Fund allocation formula analysis: Determining elements for best practices in libraries

The purpose of this study was to determine whether common elements in fund allocation formulas could be used to articulate “best practices” for fund allocations in academic libraries. Methodology involved a meta-analysis of published articles and Internet sites in which 75 fund allocation formulas were presented. Of the 75 formulas, 28 usable examples were analyzed to determine if there were any statistically significant elements within these formulas that could be identified, as well as to determine the degree of correlation for each component identified in the usable set. Findings are presented in this article, as well as implications for further research.