The sound financial management of an association requires more than creating and following a budget. It needs accountability, a complete knowledge of the association and its purpose, an awareness of its membership and environment, and an eye for day‐to‐day detail. This article compares the...

Because of recent US economic decline, the impact of budget cuts has been felt in most US economic sectors, including the materials budgets in libraries. Budget cuts or reversions obviously have a negative impact upon the dollars available for purchasing library materials. However, dealing with...