Disturbingly Weak: The Current State of Financial Management Education in Library and Information Science Curricula

Abstract

Financial management skills are necessary for responsible library management. In light of the profession’s current emphasis on financial literacy, the authors posed four questions: (1) to what extent are library and information science schools providing courses in financial management for their graduates; (2) what is the quality and quantity of library financial management textbooks available for current librarians and librarians in training; (3) to what extent are there sufficient library continuing education venues available in North America to provide this training; and (4) does any evidence exist to show that librarians with library financial management responsibilities are well-trained enough to manage library finances competently and effectively? This study attempts to answer the first question. The authors examined the curricula of all American Library Association (ALA) English-language accredited library schools in North America to determine the extent to which financial management skills are taught. The results are worrying. Although many accredited Library and Information Science (LIS) programs require a general library management course for program completion, only a small percentage of these courses offered even a brief focus on financial management. The authors conclude by encouraging professional organizations and graduate library schools to enhance their menus of educational programs. The profession must provide the skills and support necessary to ensure the profession’s future.