First of all, I would not want the responsibility for the decision of what to budget for a ref. collection. With that, however, I would try to think first and foremost for the specific library users. For instance, some things I would need to figure out first, is if a majority of our library patrons have computers at home and how many of them actually log on to our lib. website to search its catalog or take advantage of the online subscriptions that are already posted.
Then, of course, I would analyze how many "in-house" patrons use the O-Pacs our library issued computer stations for research/database purposes.
Even though I am a little biased toward printed material vs. electronic, I think if I was given a budget and the responsibility of purchasing ref. materials, I would definitely have some initial research to do. This would enable me to figure out, and balance how much, and what kind of printed items would need to be ordered, and what types of online subscriptions should be purchased that would best benefit the library user.
I also think that some (and I mean some) online ref. sources are more efficient than printed ones. For example, if I were to purchase an entire new set of encyclopedias each year or billing cycle, would they circulate or really just be used as ref. items? If the later, than I think patrons (including myself) would benefit more my logging into the lib. website to use their online sources from home or at the library. Why? It is just easier to type, click and type than to drive down to the lib. to find that the book needed cannot be checked out. That is my theory anyway.
So print v. electronic references....50/50. I guess it depends on the library, it demographic, users and technology based patrons.
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"First of all, I would not want the responsibility for the decision of what to budget for a ref. collection."
:) me neither! I kinda avoided the question in a way, especially because the librarian at my local library told me she reads my blog, and I don't want them to think I'm soliciting for $5,000!
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