2014 Finance Subcommittee
Date: Friday 5th week, Trinity 2014 (2014-05-30)Present: Dan Turner (President), Krista Halttunen (Vice-President (Administrative)), Max Dalton (Treasurer), Alex Mullan (Lindsay), Darryl Braier-Lorimer (Foody), Matthew Lynch (Foody)
Absent with apologies: Georgina Wilson (Secretary)
Agenda
Matters Arising
1. Rents and Charges [Dan]
2. Staffing [Max]
Agenda
1. Pantry [Darryl and Matt]
2. Bar [Alex]
3. General Finances
AOB
Minutes
Matters Arising
Rents and Charges [Dan]
DT gave a report on the meeting of the Rents and Charges committee he had attended. Next year, college food price rises will be 6% for the pre-payment deals, which will still be heavily subsidised, and 3% for everything else. This results in an average price rise of 4%, which is in line with previous years. In the same meeting, it was agreed that everyone living in staircase 22 will be given a £65 compensation for each of the two terms during which they have been disturbed by the nearby building works. DT confirmed that the works will continue in MT14, but we are not yet sure how much students will be affected.
2. Staffing [Max]
MD has hired a new cleaner, Richard.
Agenda
1. Pantry [Alex]
ML told us that takings have been high this term – they are up by 6.5% from this time last year and by 14% from this time last term, and this does not include takings from Formal Pantry. A lot of this is probably due to June Jamboree and generally high ice cream sales. Costs seem healthy, and the net profit for the term so far is £480. Pantry will be at Summer Eights with three times as many burgers to sell as last year.
DT has made inquiries about the possibility purchasing a new till that would use the same software as the ones in Hall. This would enable us to have a similar pre-payment system and also keep track of exactly which products are sold. DBL spoke against the idea, as the success of Pantry is very much a result of the convenience of the current batteling system, and changing this would probably reduce profits. MD added that the “legend” passed on from Foody to Foody is that Pantry did not become viable until the bodcard payments were made possible. DT remarked that the question should be seen in the context of the bigger issues surrounding the JCR use of Battels.
MD reported that Stephen is open to continuing his work in Pantry after the summer, but may need help finding temporary accommodation.
2. Bar [Alex]
AM said that the bar’s finances are “bleak as ever”; takings are down, but the silver lining is that he has not been buying much either. Trinity is always bad for the bar, but takings our down even compared to this time last year.
The source of the pool room flood has been identified: a leak in a pipe (part of the equipment owned by the JCR rather than the college). AM will arrange for replacing this and take the opportunity to install in some new equipment at the same time. It is not yet certain whether the poolroom will be open again before the end of term.
3. General Finances
DBL inquired whether it really is possible to get the Pantry trolley across the bridge in Christ Chruch Meadow for Summer 8s. MD assured that it is, but takes time. It was suggested that Pantry punts to the event instead.
MD has gone over bar accounts from HT14 and the JCR accounts from MT13, and both seem fine. The bar has made good profits, while the JCR in general a small loss.
June Jamboree also went well and made a profit. DT suggested that in the future, the food should be free. MD remarked that the extra profits from selling food are very useful for Pantry, and often necessary. We agreed that this decision should be made by the treasurer on a yearly basis and informed by the state of the JCR finances.
AM also reported that the bar was denied a licence for Summer Eights, but college officials have agreed to let him battel people for drinks sold at the event.