University Libraries' materials budget is determined at the beginning of the fiscal year. To keep pace with continually and rapidly rising costs for print and electronic periodical and serial subscriptions, University Libraries allocates more than half of the materials budget to the seven colleges and uses the remainder for reference materials, essential core periodicals, non-book materials, approval plan books, electronic resources, selections by collections development and other librarians, suggestions by the general public, etc.

The Dean of University Libraries forwards to the Provost allocations and expenditures from the previous year, together with recommendations for current fiscal- year allocations. The Provost approves or modifies the recommended budget for each college. After the Provost has approved the College allocations, the Dean of University Libraries forwards current fiscal-year allocations to College deans for their departments. Following each dean's approval, Collections Development prepares allocations for each department. Allocations are calculated by first allowing for sufficient funds to pay for the department's continuing obligations, which include series/sets, serials, periodicals, and electronic resources. The remaining balance is available to purchase non-continuing materials such as books and audio-visual materials.

The Head of Collections Development sends to departmental library representatives the initial allocation letters, monthly budget status reports, and year-end budget reports to reflect total departmental expenditures.