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How to Calculate the Return on Investment (ROI)
Use a combination of your most current annual report, other statistics you keep, and the Library Value Calculator. The annual report doesn’t gather all of the numbers that the value calculator asks for. You may gather things like “Meeting Room Use Per Hour” in a separate manner from the annual report.
If you have statistics for everything asked for in the value calculator, then use those numbers. If not, then there will be some blanks in the value calculator. That is OK. The ROI you calculate will still be valid.
Fill out the value calculator
- Books Borrowed: From your annual report, subtract Total Children’s Circulation (6.1) from Total Circulation (6.2). Put this number in the value calculator as Books Borrowed.
- Paperbacks Borrowed: Get this number from your automated circulation system.
- Children’s Books Borrowed: From your annual report, use Total Children’s Circulation (6.1).
- Magazines Borrowed: Get this number from your automated circulation system.
- Movies Borrowed: Get this number from your automated circulation system.
- Audio Books Borrowed: Get this number from your automated circulation system.
- Museum Passes Borrowed: Get this number from your regularly gathered statistics.
- Magazine/Newspaper Use in the Library: This is an In-house use statistic that some libraries record all the time and some libraries designated a week every quarter to record. Some automation system allow for the scanning of items left on tables for an in house use statistic. You might also capture this number manually.
- Interlibrary Loan: From your annual report, use 4.10 Total Number of Interlibrary Loans Provided to Other Libraries.
- Meeting Room Use per Hour: Get this number from your regularly gathered statistics.
- Auditorium Use per Hour: Get this number from your regularly gathered statistics.
- Adult Programs and Classes Attended: From your annual report, use 4.4 Adult Program Attendance per year.
- Children’s Programs Attended: From your annual report, use 4.1 Children’s Program Attendance per Year.
- Hours of Computer Use: From your annual report, use 8.3 Number of Users of Internet Computers per Year.
- Reference Questions Asked: From your annual report, use 4.8 Number of Reference Transaction per year.
Calculate the ROI
To calculate the ROI, divide the total number from the value calculator by the Total Local Revenue (3.3) number from your annual report. This calculation results in the return on the investment in your library of every local dollar.