---------- Forwarded message ----------
Date: Tue, 30 Nov 1999 17:19:46 -0700
From: Susan Mueller <mueller@SELWAY.UMT.EDU>
Subject: Accounting method for serials

At my institution a few years ago, we in serials were told that we had to
split our subscription cost in order to be paying for our subscriptions in
the same year that we recieved them.  In other words, our fiscal year runs
from July 1 to June 30 but our subscriptions run from Jan. 1 to Dec. 31, so
half of the previous year's bill (Jan. 1 to June 30) and half of this
year's bill (Jul 1 to Dec 31) are combined to come up with our payment to
our major vendor.  We pay the vendor the actual amount, but on the books we
show the two halves.  These don't equal the actual amount billed and paid
because of inflation, change of titles, etc.  It is also very confusing
when reconciling our local online system with the university's system.
Does anyone else have to do it this way?  Especially state-funded
libraries?  We were told to do this because of an auditor's recommendation.
 If that is the case I would think other libraries would have to also.  Any
insight would be helpful.

Susan Mueller                   e-mail: mueller@selway.umt.edu
Director of Technical Services          phone: 406-243-4558
The University of Montana               fax: 406-243-2060
Mansfield Library (MMLA01)
32 Campus Drive #9936
Missoula, MT  59812-9936