This paper presents the findings of a study on funding of the library at the University of Benin in relation to the recurrent budget implementation during the 1992/93 to 1996/97 academic sessions. The findings indicated that the library depended on the central administrations's allocation for its funding. It also showed that the University of Benin did not allocate 5 per cent of its total recurrent budget to the library during the period of study. This action was a violation of the National Universities Commission (NUC) recommendation. Consequently, the library came under serious threat and was not able to render efficient and effective services to its users. This paper draws on an institution's implementation approach to describe the funding of its library in theorizing the concept of budgeting at the University of Benin.