Focus on Assessment - Feb 6, 2012

Each year, the University Libraries compile the annual Libraries Insurance Valuation Report for the Risk Management Office at Penn State. The Insurance Valuation Report is combined with the reports from the other buildings throughout Penn State to form the Property Insurance Report. For more information on Penn State’s Property Insurance Report, please visit the Risk Management Office’s webpage.

The University Libraries’ Insurance Valuation Report breaks down the libraries’ collections by the home library of each item in the collection. To determine the overall value of the libraries’ collections a replacement cost as well as a processing cost is calculated for each different medium (microforms, maps, scores, etc.). An appraiser or another expert in the field determines the values of the Penn State University Libraries’ Art and Archival collections. These values are then added together to provide a final value of the Libraries’ collections. For more information and to find out the value of the Penn State University Libraries as reported to Risk Management as of Fiscal Year 2010/2011, check out the Library Assessment and Metrics Council website.