Based on responses to a survey from 79 Association of Research Libraries (ARL) member libraries, this Systems and Procedures Exchange Center (SPEC) kit explores how these libraries are currently addressing management issues associated with materials budgets. The survey addressed the following broad areas: how libraries define their materials budgets; what the sources are for these funds; who is responsible for allocation and expenditure decisions; and what policies and procedures guide these activities. Responses to these questions are summarized and major issues and trends are identified. In addition, budget procedures, materials selection policies, and budget reports were provided by the following institutions: Brigham Young University; Brown University; University of California (Berkeley, Irvine, Riverside); Colorado State University; University of Florida; McMaster University; University of Miami; University of Minnesota; State University of New York (Buffalo); University of North Carolina at Chapel Hill; Pennsylvania State University; and University of Toronto. Concluding the document is a sample agreement for the acquisition of a financial database at the University of California (Riverside). The survey instrument is included. (9 selected readings) (MAB)