Penn State University Libraries - Focus on Assessment - Oct 8, 2012

How much?...$636,478,886!!!

By Alan W. Shay

Each year, the University Libraries compile the annual 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.

 Interesting facts from the FY 2011-2012 Libraries Insurance Valuation Report

    ·  University Libraries’ collections for FY 2011-2012 valued at $636,478,886

    ·  University Park Libraries’ collections valued at $502,806,600

    ·  Commonwealth Campus Libraries’ collections valued at $133,672,286

    ·  $71,654,139 worth of art and archival collections

For more information about the University Libraries annual Insurance Valuation Report, please visit the Libraries Assessment and Metrics Council Insurance Report webpage.