2015 Finance Subcommittee

By admin, 30 March, 2022
Date of Meeting

    2015 Finance Subcommittee

    Date: Wednesday 7th week, Hilary 2015 (2015-03-04)

    Present: Duncan Shepherd (President), Aisha Simon (Vice-President (Administrative)), Richard May (Secretary), John Clark-Maxwell (Treasurer), Richard Ware (Lindsay), Gaetano Iannetta (Foody)

    Absent with apologies: Michael Wrathall (Foody)

    Agenda


    1. Matters Arising
    2. Pantry
    3. General Finance
    4. Bar

    Minutes


    We welcomed Darryl Braier-Lorimer (the 2014 Foody) to Finance Subcommittee. He will be assisting Guy in presenting Pantry figures, since Mike is in Zambia.

    Matters Arising

    • Accumulated wage collection is still going well.
    • There hasn't been much progress on reclaiming the newly discovered Ball Committee account.
    • We have ÂŁ68,000 for bar improvements, and the JCR is paying an additional ÂŁ2000 out of bar reserves.
    • Richard Ware met with the Carlsberg rep. There seems to be confusion on the Carlsberg end regarding changing the lines; further investigation is needed.
    • On the Balliale 1263 (as it's likely to be named) front, none of the ales tested was greatly popular. However, the current cask ale is going down very well - Richard Ware plans to investigate something along those lines.
    • Bar refurbishments are going ahead in the easter, though we don’t have a quote yet.
    • Rowland, the head of maintenance, is calling in his contractors to have a look at the bar ceiling. Richard Ware plans to hang a false ceiling below the current one – this would allow us to install new lights, air conditioners etc., and would probably improve sound quality.
    • Matt Lynch is currently reorganizing the Entz cupboard in Maureen’s office.
    • John needs a confirmed TV room budget by 0th week, and will be contacting Matt Lynch regarding this.

    Pantry

    Pantry takings for week 5 and 6 have been lower than in previous years, but we have managed to cut expenditures substantially and made profits. Darryl’s projection for the term is a small profit of £200-500. He believes the primary reason for lowered expenditure is the increased usage of students over permanent staff.

    Darryl’s previous advert for staff has expired. The search for new staff is ongoing - the irregular nature of the work hours concerns is probably part of the problem.

    The meal deal cards have been designed; Finance Subcommittee expressed approval of the design. Guy will investigate the printers in the JCR office to see whether they can print on card.

    Filter coffee is selling well, and Pantry believes the decreased profit is worth the increase in quality. 

    General Finance

    There was a brief discussion of yachts, and John’s involvement thereof. The laundry room is now contracted externally. The motion about increasing the refurbishment fund passed at College Exec and was met with general approval there.

    John needs more information about charitable registration, specifically the auditing aspects - Duncan and Richard May clarified that the JCR would not need to have its accounts independently audited, but could do so if we want.

    Richard Ware and John are working on drafting a document about how much money we need in the bar reserves, which predicts ÂŁ7-12k in the running account, plus ÂŁ13-19k in the capital reserves (which is the cost of replacing everything in the bar) and ÂŁ5k in the emergency fund.

    Bar

    The bar is down substantially this year over last year. Michaelmas was down around 20% on last year, and Hilary is down around 10%. Daisy Cutts (the new Maestro Music) is planning to move Open Mic Nights to a different day to get more people attending. Bar staffing is going excellently – we have “staff coming out of our ears”.

    The external component of the bar’s cooling system needs replacing, at a cost of about £4000. It’s been shorting out the bar’s wall plugs.

    The meeting ended.