Diversifying Funds to Enhance Financial Sustainability of a County Library System

Diversifying Funds to Enhance Financial Sustainability of a County Library System by Francis A. Adebola-Wilson MLIS, Valdosta State University, 2012 Post Graduate Diploma, Lagos State University, Nigeria, 2001 BS, Yaba College of Technology, Yaba, Nigeria, 1990 Dissertation Submitted in Partial Fulfillment of the Requirements for the Degree of Doctor of Philosophy Public Policy and Administration Walden University January 2017 Abstract Existing research has focused on the financial challenges affecting public libraries and how to improve library efficiency and funding. However, it is unknown how financial diversification could improve the economic fortunes of public libraries. The purpose of this study was to illuminate the unique structural, legal, and operational dynamics associated with adopting a financial diversification strategy in the Clayton CountyExisting research has focused on the financial challenges affecting public libraries and how to improve library efficiency and funding. However, it is unknown how financial diversification could improve the economic fortunes of public libraries. The purpose of this study was to illuminate the unique structural, legal, and operational dynamics associated with adopting a financial diversification strategy in the Clayton County Library System (CCLS), Georgia, and to explore what would support or hinder the implementation of such a strategy. Using modern portfolio theory, the research explored how the CCLS could diversify its funding sources. A qualitative single-case study was conducted to gather information from a sample of library personnel: 2 library directors, 7 assistant directors, 6 branch managers, and 3 grant writers. Budget documents and meeting minutes over a 3-year period were also reviewed. The data were analyzed using a content analysis method, and were coded inductively. Interview data were triangulated with the results of a review of budget documents, meeting minutes, and related literature. Study findings revealed that financial diversification was an effective strategy for the participants in this study, but such diversification would be complex for the broader CCLS because of stakeholders’ concerns about CCLS’s organizational characteristics, legal frameworks, and management attitudes. The study findings may be used as a basis for further empirical investigations on adoption of financial diversification plans in public libraries. Positive social change is expected to result from this study because it provides useful data to policymakers, library administrators, and other stakeholders seeking ways to sustain public library funding. Diversifying Funds to Enhance Financial Sustainability of a County Library System by Francis A. Adebola-Wilson MLIS, Valdosta State University, 2012 Post Graduate Diploma, Lagos State University, Nigeria, 2001 BS, Yaba College of Technology, Yaba, Nigeria, 1990 Dissertation Submitted in Partial Fulfillment of the Requirements for the Degree of Doctor of Philosophy Public Policy and Administration Walden University January 2017 Dedication First, I want to reverently dedicate this dissertation to God Almighty for the grace to start, and complete this doctoral program. Second, to my family, without your love, support, and patience I wouldn’t have made it through this process. You have cheerfully taken on more than your fair share of our daily demands, and have offered your love, and support throughout the entire process. Even though your valuable time was impacted by my doctoral research, everything I have done has been done to provide a better life, and future for us. Also, I dedicate this dissertation to Dr. Yekeen Aderibigbe, who has been a mentor, father, brother, and friend to me from birth. Dr. Yekeen Aderibigbe is always there to offer advice, and directions, and always without hesitation, introduces me with pride as his brother, which is very special to me. He has taught me more to date than any other person, or educational institution has or ever will. There was never a time when Dr. Yekeen said “no,” or “don’t,” but instead he offered his advice, guidance, and most important.his support! I am eternally grateful to him for his mentorship, support, and faith throughout the years. I hope to one day be able to pay him back for all that he, and his lovely wife Auntie Earlie Rockette have done for me, and I only hope I make them proud. To my mother, thank you for your love, and prayers all the time. You instilled in me a work ethic that has made possible the completion of this study. Because of you, I have always known that I could accomplish anything through perseverance, and faith. Thank you for giving me the confidence to reach for the stars, and your loving support through my entire education. To my siblings, a big thank you all for being there for me. Last, to my very dear friend, and dissertation buddy, truly the world’s best advisor, whose credence, and love remains constant. Thank you for your steadfastness! Acknowledgments I would like to take this opportunity to thank my committee. I want to specially acknowledge my academic mentor, Dr. Gary Kelsey. You have been an inspirational, supportive, and thoughtful chair. Thank you for not accepting anything less than what you believed I was capable of doing. I wish you many blessings in the future. I acknowledge Dr. Bethe Hagens. You have been an invaluable critic, and balancer of my work, your painstaking observations placed the quality of this study on scholarly voice. I also want to say a big “thank you” to Dr. Joshua Ozymy, the meticulous URR who ensured my work passed for future resource on policy, diversification of funding sources for public libraries. Also, I would like to express my special thanks to Ms. Carey Little Brown for her editorial guidance. Your ability to change a phrase from amateur to scholarly, your timeliness, and most of all your honesty helped me fulfill a dream. A special appreciation goes to friends who touched my life, and without always realizing it, provided guidance. I want to place on record the support rendered to me during my doctoral research by friends, such as, Dr. Thomas Kayode Ige, Dr. Peter Opone, Dr. Bayo Adanri, and Dr. Denise Miller, all Walden University Alumni. Thank you all for the moral support. Finally, I want to thank Ms. Rosalind Lett, Ms. Carol Stewart, Ms. Flora Hazelton, Ms. Janice Arcuria, Ms. Yvonne Carmicheal, Ms. Veleda Simon-Simpson, Ms. Belle Reynoso, Mr. Scott Parham, Dr. Lamar Veatch, Ann McKinnon, Sue Hall, all my participants, Staff and Management of Clayton County Library System, Georgia for their contributions to ensure the completion of this PhD research study, especially during the data collection process. It is with deep appreciation I humbly offer this small token of evidence as but a partial return on your collective investment in me. To God be the glory!