Download - Tpl so much more updated may 2015
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Impact Studies
Metrics for Libraries: Outcomes, Value &
Impact
Elizabeth Glass
Toronto Public Library
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Data is the Sixth Sense
From pew to Pew Every generation gets the gurus it craves… and there’s a 40%
chance there named Dan!
The United States of Metrics. New York Times. Sunday May 18, 2015
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Context: Public Sector
Governments are faced regularly faced with tough funding choices. Policy makers have to weigh the merits of investing in different projects….most people will tell you libraries are a good thing, but decision makers need more. They need a solid, robust case for investment.
Dollars, Sense and Public Libraries. The landmark study of the socio-economic Victorian public libraries. 2011.
http://www.slv.vic.gov.au/sites/default/files/dollars-sense-public-libraries-summary-report_1.pdf
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City of Toronto’s Budget Priorities
• Core priorities for the City of Toronto are to improve customer service, be more transparent and accountable, and reduce the size and cost of government. – Emphasis on
• Key performance measures
• Alternate revenue streams
• Toronto Public Library participated in the City of Toronto Core Service Review of Library Service 2011
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Background: Research in best practices in municipal funding models
• Partnered with Institute on Municipal Finance and Governance: Monk School of Governance to present a session sponsored by the TD Bank Group
Shared Spaces: Funding and Managing Libraries and Parks in Tough Times
Speaker:Shiobhan Reardon: Director Free Library of Philadelphia
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Results of Economic Value of the Free Library of Philadelphia– Libraries prepare our workforce, by teaching over 24,000 children and
adults to read where 50% of the working population in functionally illiterate
– Libraries connect people to jobs and careers, serving as the vehicle for 979 Philadelphians finding jobs, resulting in $30 million in wages in one year and generating $1.2 million annually in city wage tax in a City
– Libraries grow businesses, with 8,630 businesses starting or improving because of help received at the Free Library.
– Libraries enrich neighborhoods, creating $698 million in home valuesand generating $18.5 million annually in property tax revenue for the city.
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Context: Toronto Public Library Study
Responds to motions by the Library Board and City Council
Toronto Public Library Board
That the City Librarian undertake a study on the economic impacts and benefits of Toronto Public Library and the role of public libraries in economic development
Toronto City Council
That the Chief Librarian prepare a cost-benefit analysis of the Open Hours Policy and the economic impact of Library services and provide a report to the City Manager for review and report prior to the 2014 budget process.
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Context for the Study
Demonstrate Toronto’s Public Library’s support for City directions in concrete terms: – Collaborating for Competitiveness: A Strategic Plan for
Accelerating Economic Growth and Job Creation in Toronto (City of Toronto 2013)
– Creative Capital Gains: An Action Plan for Toronto (City of Toronto 2011)
– City of Toronto Middle Childhood Strategy (City of Toronto 2012)
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Literature Review
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Process to develop the study
• Identified funding from the Toronto Public Library Foundation
• Issued Request for Proposal for research partner
• Selected Martin Prosperity Institute as partner– Conducted Literature review of valuation studies in the
library/public sector
– Established valuation methodology
– Completed analysis
– Reviewed Toronto Public Library results in the context of other studies
• Communicated study results
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So Much More:
The Economic Impact
of the Toronto Public
Library on the City
of Toronto
December 9, 2013
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Methodology
MPI followed a thorough, comprehensive approach
to calculating the economic impact of TPL
services.
The Martin Prosperity Institute conducted the study for the Toronto Public Library using accepted valuation methodologies commonly used in the library and public sector and standard library statistics collected for international and Canadian benchmarks. The study examined the economic impact of the Toronto Public Library from a number of lenses, building on methodologies of other studies and introducing new measures to value library space.
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Methodology
Total economic impact includes:
• Direct spending – impact of money flowing through the institution – operations, capital, employment, materials
• Direct tangible benefits- benefits of services that can be reliably estimated
• Indirect tangible benefits – the multiplier effect of direct spending and re-spending as money flows through the economy
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How value $$ was calculated
Direct benefits:
• The market value of library services used annually including collections, programs, technology access, reference and database services, and meeting and study space
• For collections two scenarios were used• Retail value at 20% of actual value
• Full retail value with the assumption that reading a book once is the equivalent of owning or it is not available
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How value $$ was calculated
Indirect Tangible Benefits
• The impact of re-spending of dollars within the local economy using a multiplier in the range of 1.4-2.0 as applied by Statistics Canada and other recent economic studies
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Toronto Public Library delivers $5.63 of economic impact for every $1 spent
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Toronto Public Library creates over $1 billion in total economic impact
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Total direct benefits reach $502 per member
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The average open hour at a branch generates $2,515 in direct benefits
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Return on Investment
ROI is 463%
The return from the City of Toronto’s investment in the Toronto Public Library is
463%, which is the midpoint of a range very conservatively estimated to be 244% and is
comfortably shown to reach 681%.
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Intangible benefits deliver value
Opportunities for residents to improve their literacy skills, enhance their educational and employment opportunities, and improve quality of life for themselves and their families through library collections, services and programs deliver a lifetime of value to residents and increase the economic competitiveness and prosperity of Toronto.
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Neighbourhood Branches Provide Communities Intangible Benefits
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“Cities that promote diversity and tolerance also tend to become places that are open to new ideas and different perspectives, promoting creativity. This in turn builds cities that are attractive to individuals and businesses involved in the creation of new ideas, products and services.”
The Importance of Diversity to the Economic and Social Prosperity of Toronto, MPI, 2010
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Results in Context
ROI is 463%
The return from the City of Toronto’s investment in the Toronto Public Library is
463%, which is the midpoint of a range very conservatively estimated to be 244% and is
comfortably shown to reach 681%.
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What were working on
Quantitative Program Evaluation
Toronto Library Settlement
Partnerships (LSP) Program
Evaluation Report
2013-2014
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What were working on
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Business Intelligence Strategy
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Moving Forward
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Data Governance Framework
Data Architecture
Tools and Technology
Processes and
Practices
Governance
Metrics
Policies, Principles and
Standards
Organization
Data
governance
framework
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9 December 2013
Q & A
(and, Thank You!)
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