How To: "Clone" a Book in Drupal
Create a place-holder for your new book
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Create Content -> Book Page
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Give the page the title of the new book. "2010-2011 Policies & Procedures"
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In the "Book Outline" section make sure to select "<create a new book>" from the drop-down:

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Fill in the URL, and other information as necessary
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Click "Save"
Copy current book into placeholder
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Navigate to the top-level of your current book
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Click on the "Derive a Copy" link at the bottom of that page.
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In the "Book Outline" section, select your new book!

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Click "Update book outline". Your new book is now encapsulated within your place-holder page.
Reorder copied pages
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"Administer -> Books"
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Find your new book in the list, and select "edit order and titles"
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Reorder, delete, and re-name pages as you see fit!