TCDSU reports €30,000 deficit for 2015/16 academic year

The report characterises the deficit as “ not sustainable” and the effect this has on the day-to-day finances of the Union as “dramatic”

NEWS

TCDSU have reported a €30,000 deficit for the 2015/2016 academic year, Trinity News has learned. The report characterises the deficit as “ not sustainable” and the effect this has on the day-to-day finances of the Union as “dramatic”.

The SU maintained its significant expenditure on Welfare, Publications (including the University Times, website and Student Diary) and also on Executive Expenditure (Class Representative training), it was anticipated the Students Union would continue this expenditure. However, all expenditure will now have to be reviewed in light to the new financial situation.

The report highlighted the “drop in Capitation income” due to cuts made to all capitated bodies in 2013 and the “the increased expenditure required to fund the position of the University Times Editor, in addition to the Communications Officer’s role.” Students voted by referendum to separate the role of Communications & Marketing Officer and editor of the University Times in 2014. The report later states that  the “significant expenditure” on Welfare, The University Times, the Student’s Union diary and also executive expenditure on Class Representative training will “now have to be reviewed in light [of] the new financial situation.”

The report acknowledged that Ents events were “very well received and supported”, with Ents reporting a “record surplus” of €29,169. The report stated that the students services surplus was in excess of €176,000, an increase of €22,378 compared to last year. All other income and expenditure accounts, the report explained, were “on budget”.

Both Student’s Union shops in House 6 and the Hamilton reported losses this year of €637 and €5,884 respectively. The report cites the “changed term structure” as a primary reason behind this “declined commercial activity”, stating that these results reflect the “increasingly difficult environment for small shop outlets.” The Student’s Union Café also suffered a loss of €2,052, with the report commenting that this is expects that this will be “reversed in the coming year” as well as stating that the Union “will not fund a loss making café in the long term.”

According to the Treasurer’s report, this deficit reflects a “dramatic reversal of the Union’s financial position” and stresses that the Union must return to a surplus “within the next two years”, as this is the length of time which the Union can feasibly sustain a loss.

Eva Short

Eva is a former Deputy Editor of Trinity News.