Quick Summary
Last year, Cooperative Purchasing helped libraries save over $4.1 million. How many books (or cardigans) could that buy?
In 2023, Minnesota libraries saved $4.1 million on subscriptions and purchases of electronic resources through cooperative purchasing. By partnering with various vendors, cooperative purchasing offers libraries discounted rates and facilitates the consumer experience, ultimately saving more than just money. But what does $4.1 million really mean? Let's put this big number into perspective with a little help from the 2019 Minnesota Public Library Report Key Statistics.
Library Budgets
Based on the 2019 Minnesota Public Library Report, we can estimate that the average library budget in Minnesota was roughly $692,313. Using these figures, the amount saved is equivalent to approximately six average-sized library budgets.
Books
If we assume the average book costs roughly $20, $4.1 million could purchase 204,999 new books. When distributed evenly among 356 public library locations in Minnesota, that would result in roughly 575 new books for each location, enhancing their collections. Just for fun, I wanted to visualize the distance this amount of books would cover. Stacked end-to-end, 204,999 books would be nearly twice the length of the Golden Gate Bridge and almost 15 times the height of the Eiffel Tower.
Little Free Libraries
No matter what you think about free little libraries, everyone agrees the more books, the better. The average cost to start a Little Free Library is around $250. With $4.1 million, we could fund as many as 16,400 new locations across the state. Integrating all of them into the interlibrary loan system? That would have to be considered later.
Cardigans?
A staple in every librarian's wardrobe, cardigans cost about $25 apiece. With $4.1 million, we could equip the 4,646 library staff reported in the 2019 Minnesota Public Library Report with 35 cardigans each, more than enough to tackle Minnesota's chilly weather (it's all about layers). You can never have too many cardigans!
Cooperative Purchasing
Cooperative purchasing directly aligns with the Minitex mission to strengthen libraries, cultural institutions, and the communities they serve. Through this program, we hope to streamline access to the resources libraries need by easing budget pressure. Cost reductions can free up resources for investments in new programs, new technology, or collections. Make sure to consider Cooperative Purchasing for e-resources as well as library products.
