Controlling costs during fiscal crises

CHICAGO — Libraries, like many other cultural institutions such as museums, art councils and theater groups, are looking for answers to the pressing problems of financial stability and, ultimately, survival. Published by ALA Editions, “Cost Control for Nonprofits in Crisis” helps managers and directors tackle the harsh realities before them. G. Stevenson Smith, an accounting expert and financial analyst, offers:

• Techniques for determining the most cost-effective methods of providing services to clients and patrons of nonprofit cultural institutions;
• Ways to monitor financial and non-financial performance and cut out “non-value” activities that drain resources;
• Tips for planning efficiently for the future by making sure that today’s decisions fit within the institution’s mission.

Smith is the John Massey Endowed Professor of Accounting in the John Massey School of Business at Southeastern Oklahoma State University. He has been on the faculty at universities in Australia, Italy and New Zealand and was recently a Fulbright Scholar at the University of Pula in Croatia. Dr. Smith is co-author of the fourth edition of “Forensic and Investigative Accounting” and author of “Managerial Accounting for Libraries and Other Not-for-Profit Organizations,” “Accounting for Libraries and Other Not-for-Profit Organizations” and numerous articles on the subject of accounting. Prior to entering academia, Dr. Smith was a financial analyst at the Securities and Exchange Commission in Washington, D.C. He is a Certified Public Accountant and a Certified Management Accountant.

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