2017 Finance Subcommittee

By admin, 30 March, 2022
Date of Meeting

    2017 Finance Subcommittee

    Date: Friday 2nd week, Hilary 2017 (2017-01-27)

    Present: Hubert Au (President), Frederick Potts (Vice-President (Administrative)), Thomas Gater (Secretary), Zachary Leather (Treasurer), John Watson (Lindsay), Leah Mitchell (Foody), Alexander Toal (Foody)

    Agenda


    

    1. Matters Arising
    2. 1st and 2nd week fiscal reports
    3. AOB

    Minutes


    

    1. Matters Arising

    Fexec Minutes

     

    Freddy opened the first meeting, and welcomed the definitely quorate 6 members (Alex arrived 5 minutes late.

     

    Cameron took the floor to update Fexec on the bar's financial situation. The bar is doing well, revenue is up from last year, 1st week and 0th week have acceptable average surplus. The bop was discussed, slightly lower turnout than previous bops, but still more profitable than other nights.

     

    The payment to the piano tuners was discussed, the cash flow problem is that the GM to pass the money is after the proposed date of the tuning. It was resolved to delay the retuning as a GM motion is likely necessary for the expense; Zack is going to investigate whether Maestro Music has the authority to spend autonomously.

     

    Leah took the floor and explained that pantry use is increasing week on week but the advertising on the individual page was not effective. The quality of food is good though so pantry is in good shape generally going into the term. This has increased food costs compared to last term, but much of this increase is one off ingredients to last a while. It was resolved to do individual cost analysis on meals and make sure to keep the menu varied.

     

    Pantry have plans for Oblong Ball Weekend (this being the weekend of the superbowl and six nations), as does the bar. Bar will stay open slightly later and late night pantry will return!

     

    Zack relayed an Entz finance report – they spent almost exactly their budget and revenue was excellent for the number of people who attended. Stellentz is noted as the most fiscally responsible entz ever!

     

    Cameron notes that 5th week generally is completely rammed with events in and around the bar, so at the moment nothing new is being organised. Pantry is very ready for a terrifyingly full 7th week with formal pantry and Shrove Tuesday. 

     

    Freddy thanked committee

    1. AOB