2014 Finance Subcommittee

By admin, 30 March, 2022
Date of Meeting

    2014 Finance Subcommittee

    Date: Thursday 1st week, Michaelmas 2014 (2014-10-16)

    Present: Dan Turner (President), Krista Halttunen (Vice-President (Administrative)), Georgina Wilson (Secretary), Max Dalton (Treasurer), Alex Mullan (Lindsay), Darryl Braier-Lorimer (Foody), Matthew Lynch (Foody)

    Agenda


    Matters Arising

    Agenda:

    Pantry

    Bar

    Treasurer

    Minutes


    1. Matters Arising

      Steven left.

       

      Agenda

      Pantry

      ML said that last term takings were really good in Trinity – about 10% more than in Hilary, and this has yet to include Summer 8s and Formal Pantry Takings. For every £1 of revenue, about 52p is spent on food costs. To break even we currently need to take £24,000 revenue, which we pretty much did in Trinity last term. On a high wage term, we would have to take £26,500 to break even, which might be hard to ever do. This might mean trying to change the food-cost ratio.

      DT confirmed that JCR income is normally £23,000, including takings from Pantry.

      ML said that so far this term our takings are about the same as this time last year. Freshers take-up is strong for lunches and strong for dinners. DB said that dinners have improved. DB confirmed that there are plans to open late for Crazy Tuesdays, it wasn’t open this Tuesday but he plans to open for this Tuesday. MD said that late night Tuesday Pantry might be more lucrative in Michaelmas.

      Alex Bartram has been hired to take over some morning shifts. But this is a temporary arrangement. Steven is temporally on a zero hours contract, as requested, as he currently has another job (out of College). MD pointed out that two days a week (ie, weekends only) will be a difficult job to hire for, but that DB could look at hiring someone from Hall.

      Bar

      AM said that Freshers week was about £900 down compared to the average over the past few years. DT said that he thought Freshers were around lots on Tuesday, but takings were £700 rather than the £1100 AM would have liked. MD pointed out that Crazy Tuesday takings tend to go up at the end of Michaelmas. AM said that prices haven’t gone up much, but that wages will go up because quite a few people with shifts are 21, and the minimum wage went up in October. The Dean is keen on people drinking in the bar rather than their rooms, so AM is going to do more advertising. MD suggested doing Harry Potter potions on the night of the Harry Potter films. (This is an excellent idea).

      Quizes have moved upstairs because of accessibility to the bar. MD said that the JCR has significant reserves that they would like to spend. We could afford a stair lift, for example. KH said that this could be College’s issue. I suggested getting people to think about drinks and vote on the drinks they would like. AM said that changing the taps would be unlikely because Heineken aren’t vegetarian, so we’re going to stick with Carlsburg. AM said that the infrastructure of the bar is improving.

      Treasurer

      MD said that the bar made a £5500 loss in Trinity; takings fell significantly and costs remained the same. This was put down as the infrastructure problem. AM said that takings in Trinity were down by £5000 compared to the same time last year.

      MD said that the JCR made a small change last year, although this was partly down to a technical change in accounting.