The Arizona State University Libraries have evolved, in the short time since becoming a PhD-granting institution, from a faculty selection model of collection shaping to the collection management approach, which includes full-time librarians in charge of policy making and planning, collection analysis and fiscal management The book budget is not sub-allocated by discipline, which allows a great deal of flexibility. The recent budget crunch felt by ASU, along with other North American libraries, resulted in a review of currently-received periodicals in order to target titles for possible cancellation. One of the consequences of the tighter budget is the increasing popularity of investigating the sub-allocation of book funds. The collection development policy statement contains valuable data that can be used as the basis for analyzing priorities and making sub-allocations.