Present: Dan Wortman, Scooter, Darren Wheaton, Michelle Strain, Shelley Harding, Daniel Gillespie, Mike Keech, Evan Scully, Mike Currie, Sarah Carrigan-Kent (late), Ryan Sargent (late).
Regrets: Kevin Estabrooks, Iain McLeod.
Looked at the Notice of Dismissal letter for Scooter.
Should close by March 31st so we can lay Scooter off on April 3rd (he is willing to work an extra week if need be).
Sell assets to the University. Scooter should do an inventory of all assets, and then will sell them to the university for whatever amount the University wants to use in the books (possibly $1.00).
The lawyer felt that we have done as much as could be done to protect ourselves.
Scooter will take time to write a letter agreeing to a reduction in weekly salary. Scooter would sign a waiver of all claims on April 3rd when he is done.
Last day open will be March 31st, will close that night.
Order of priority to pay:
(1) CRA
(2) Employees
(3) Scooter
(4) Suppliers
(5) University
Should get back some prorated insurance money, but will keep Directors’ Insurance.
Bank should have new account ready by tomorrow.
Discussed when the board of directors should dissolve.
Will tentatively meet again on March 8th, at 6pm.
Wednesday, March 31, 2010
Board Meeting: February 15, 2010
Present: Mike Currie, Ryan Sargent, Sarah Carrigan-Kent, Dan Wortman, Michelle Strain, Scooter, Shelley Harding, Daniel Gillespie, Mike Keech, Evan Scully
Regrets: Darren Wheaton, Iain McLeod, Zach Ball, Kevin Estabrooks
Minutes from last meeting were approved.
External Accountant’s Report:
- Projected cash April 30 - $11,006. This is based upon a large number of assumptions.
- Need to get written confirmation of timely payments, and numbers are based on paying only interest on loan and no rentals.
- Add Sue’s report to the minutes.
Manager’s Report:
Things are looking worse; Scooter advised the Board to cease operations by April 10th (LDC) or even by March 31st before liquor license renewal.
Scooter reported that Sue’s report was based on better numbers than his updated numbers, and her report was pretty bleak. He reported an extremely significant drop in sales over the past two weeks, which makes Sue’s analysis essentially invalid. Uncle Larry’s seems to be taking away more patrons as they have amped up their dance floors.
We discussed closing expenses such as severance for Scooter, severance for the employees and HST & payroll.
Other Business:
Dan Gillespie spoke up and said that he felt that the Board was incapable of making decisions. He would like to resign, but he didn’t. He believes we need a formal document that says where we stand.
We need a lawyer to assist us through these proceedings, will meet with one tomorrow morning.
Need to do 3 things to ensure we are not personally liable as a board:
- Deposit remittance every week.
- Termination notices (Evan will email Darren).
- Set up separate account for HST.
Also advised to do a weekly count of cash floats (Shelley on Mondays) and get Scooter to sign a letter about his reduced salary.
Next meeting Wednesday the 17th of February at 9pm. Michelle Strain will book a room for us.
An appeal came up, with an individual who was caught smuggling beer into the Pub. After discussion of the case, a motion was passed to grant his appeal.
A second appeal camp up, with an individual who was stealing tips from tip jar. Indecision about this one, went to a vote, 5 to 4 vote to shorten the length of his ban (he had already served over four months).
Regrets: Darren Wheaton, Iain McLeod, Zach Ball, Kevin Estabrooks
Minutes from last meeting were approved.
External Accountant’s Report:
- Projected cash April 30 - $11,006. This is based upon a large number of assumptions.
- Need to get written confirmation of timely payments, and numbers are based on paying only interest on loan and no rentals.
- Add Sue’s report to the minutes.
Manager’s Report:
Things are looking worse; Scooter advised the Board to cease operations by April 10th (LDC) or even by March 31st before liquor license renewal.
Scooter reported that Sue’s report was based on better numbers than his updated numbers, and her report was pretty bleak. He reported an extremely significant drop in sales over the past two weeks, which makes Sue’s analysis essentially invalid. Uncle Larry’s seems to be taking away more patrons as they have amped up their dance floors.
We discussed closing expenses such as severance for Scooter, severance for the employees and HST & payroll.
Other Business:
Dan Gillespie spoke up and said that he felt that the Board was incapable of making decisions. He would like to resign, but he didn’t. He believes we need a formal document that says where we stand.
We need a lawyer to assist us through these proceedings, will meet with one tomorrow morning.
Need to do 3 things to ensure we are not personally liable as a board:
- Deposit remittance every week.
- Termination notices (Evan will email Darren).
- Set up separate account for HST.
Also advised to do a weekly count of cash floats (Shelley on Mondays) and get Scooter to sign a letter about his reduced salary.
Next meeting Wednesday the 17th of February at 9pm. Michelle Strain will book a room for us.
An appeal came up, with an individual who was caught smuggling beer into the Pub. After discussion of the case, a motion was passed to grant his appeal.
A second appeal camp up, with an individual who was stealing tips from tip jar. Indecision about this one, went to a vote, 5 to 4 vote to shorten the length of his ban (he had already served over four months).
Monday, March 8, 2010
Manager's Report, January 11th, 2010
Facility Problems:
- Door to main change safe feel off the safe on Saturday night. New safe = $440.
- Counter is loose in front of main cash register.
- Cash register electrical plug is screwed up – keeps resetting.
Website:
- The new website is up and running.
- Main drawback is that the photo pages are gone, but they needed to go because of extreme amount of time invested in taking photos and updating regularly. Also, less interest due to strength of Facebook.
- Goal was to make it clean, simple, easy to navigate.
- Only key missing pages still are financials and “old staff.”
- Capacity for 800+ more photos to be added to main splash page.
Security Issues:
- Stolen backpack on Friday night, from lobby. Recovered today after three and a half hours of investigation on video system.
- Mentioned the case to Rob MacCormack, in a brief email, so he is aware of the value of the lobby cameras to assist Pub staff in solving problems.
Solarium Changes:
- Description of new layout.
- Lighting issues – a bit too bright, will need to be dimmed.
- Dance lights – not useful yet, would be good to have carpenters hang a lighting rig.
- Volume levels – speakers need to be raised to reduce wattage needs, improve clarity. We can put them on poles.
- Tough for bartenders to hear drink orders.
- Much more energetic and exciting feel to the venue, from the staff point of view.
Photo Collage Potential Project:
- To be discussed in new business. Would like to add some photos to the walls, total budget approximately $200.
Financial Thoughts:
- I made an error with Travel Expenses, so our financials from September, October, and November need to be restated about $150 per month in expenses not recorded.
- Rental Cost increase.
- Possible HST Rebate for commercial rent.
- Minimum wage will be increasing. $8.25 now. $8.50 in April. $9.00 in September. $9.50 in April 2011. $10.00 in September 2011.
- Door to main change safe feel off the safe on Saturday night. New safe = $440.
- Counter is loose in front of main cash register.
- Cash register electrical plug is screwed up – keeps resetting.
Website:
- The new website is up and running.
- Main drawback is that the photo pages are gone, but they needed to go because of extreme amount of time invested in taking photos and updating regularly. Also, less interest due to strength of Facebook.
- Goal was to make it clean, simple, easy to navigate.
- Only key missing pages still are financials and “old staff.”
- Capacity for 800+ more photos to be added to main splash page.
Security Issues:
- Stolen backpack on Friday night, from lobby. Recovered today after three and a half hours of investigation on video system.
- Mentioned the case to Rob MacCormack, in a brief email, so he is aware of the value of the lobby cameras to assist Pub staff in solving problems.
Solarium Changes:
- Description of new layout.
- Lighting issues – a bit too bright, will need to be dimmed.
- Dance lights – not useful yet, would be good to have carpenters hang a lighting rig.
- Volume levels – speakers need to be raised to reduce wattage needs, improve clarity. We can put them on poles.
- Tough for bartenders to hear drink orders.
- Much more energetic and exciting feel to the venue, from the staff point of view.
Photo Collage Potential Project:
- To be discussed in new business. Would like to add some photos to the walls, total budget approximately $200.
Financial Thoughts:
- I made an error with Travel Expenses, so our financials from September, October, and November need to be restated about $150 per month in expenses not recorded.
- Rental Cost increase.
- Possible HST Rebate for commercial rent.
- Minimum wage will be increasing. $8.25 now. $8.50 in April. $9.00 in September. $9.50 in April 2011. $10.00 in September 2011.
Board Minutes, January 11th, 2010
Minutes, January 11th, 2010
Present: Ryan Sargent, Scooter, Mike Keech, Mike Currie, Michelle Strain, Dan Wortman, Dan Gillespie, Shelley Harding, Evan Scully, Sarah Carrigan-Kent.
Regrets: Darren Wheaton, Iain MacLeod, Zach Ball, Kevin Estabrooks.
- Iain MacLeod will be completing his degree at MUN this term. He will be able to provide input into decisions by phone/email.
- Michelle added an item to the agenda: more info to Board members and Liquor Policy Committee notes.
- Amended minutes from previous meeting to correct the fact that Iain was not present. Minutes were then approved.
Manager’s Report: see written report.
Dan Wortman was going to talk to Kevin to make sure that we can get financials in a timely manner in the critical months ahead.
Aramark as food partners: interested, but hours don’t really mesh well with periods when there are a lot of customers at the Pub, with the exception of Friday afternoons. The only other possibility is the Superbowl buffet – going to try to determine whether there would be enough interest to hold such an event.
The Facebook Group was discussed, including pros and cons of converting it to a “Fan Page” instead of “Group.” Decided to leave it as-is.
Corey’s Paintings: look good, only slightly over budget, but a lot of paint remains in case we elected to do additional paintings, so the next sections would be much cheaper.
DJ Booth Project: almost complete, should protect the gear. Bartenders now have eye contact with the DJ.
Liquor Policy Committee: has gone through the Liquor Control Act, and Order & Regulations. Looking to include other areas in their Special License umbrella. Advertising rules are many shades of grey and the committee is trying to gain clarity. Discussed the rules surrounding courtesy drinks.
Documents that would be of interest to Board Members were reviewed. They included:
- Incorporation Documents
- Constitution & By-Laws
- License to Operate
- Loan Agreement
- Employment Contracts
- Insurance Coverage (Directors & Officers Insurance)
- Commercial General Liability
- Obligation to maintain financials and have an annual audit
- HST Registration Number
- Bank account at Scotiabank
- Government by a Code of Conduct & Liquor Policy
- Sales Agreements
If we cease operations, we are required to pay at least four weeks of severance pay to long-term employees (over five years service). Must retain HST for remittances. Insurance has a $2500 deductible. Keep insurance open for at least one year after closure. Have to pay all non-University vendors.
Present: Ryan Sargent, Scooter, Mike Keech, Mike Currie, Michelle Strain, Dan Wortman, Dan Gillespie, Shelley Harding, Evan Scully, Sarah Carrigan-Kent.
Regrets: Darren Wheaton, Iain MacLeod, Zach Ball, Kevin Estabrooks.
- Iain MacLeod will be completing his degree at MUN this term. He will be able to provide input into decisions by phone/email.
- Michelle added an item to the agenda: more info to Board members and Liquor Policy Committee notes.
- Amended minutes from previous meeting to correct the fact that Iain was not present. Minutes were then approved.
Manager’s Report: see written report.
Dan Wortman was going to talk to Kevin to make sure that we can get financials in a timely manner in the critical months ahead.
Aramark as food partners: interested, but hours don’t really mesh well with periods when there are a lot of customers at the Pub, with the exception of Friday afternoons. The only other possibility is the Superbowl buffet – going to try to determine whether there would be enough interest to hold such an event.
The Facebook Group was discussed, including pros and cons of converting it to a “Fan Page” instead of “Group.” Decided to leave it as-is.
Corey’s Paintings: look good, only slightly over budget, but a lot of paint remains in case we elected to do additional paintings, so the next sections would be much cheaper.
DJ Booth Project: almost complete, should protect the gear. Bartenders now have eye contact with the DJ.
Liquor Policy Committee: has gone through the Liquor Control Act, and Order & Regulations. Looking to include other areas in their Special License umbrella. Advertising rules are many shades of grey and the committee is trying to gain clarity. Discussed the rules surrounding courtesy drinks.
Documents that would be of interest to Board Members were reviewed. They included:
- Incorporation Documents
- Constitution & By-Laws
- License to Operate
- Loan Agreement
- Employment Contracts
- Insurance Coverage (Directors & Officers Insurance)
- Commercial General Liability
- Obligation to maintain financials and have an annual audit
- HST Registration Number
- Bank account at Scotiabank
- Government by a Code of Conduct & Liquor Policy
- Sales Agreements
If we cease operations, we are required to pay at least four weeks of severance pay to long-term employees (over five years service). Must retain HST for remittances. Insurance has a $2500 deductible. Keep insurance open for at least one year after closure. Have to pay all non-University vendors.
Thursday, January 14, 2010
Board Minutes, December 20th, 2009
Present: Dan Gillespie, Michelle Strain, Patrick Forestell, Evan Scully, Dan Wortman, Mike Keech, Mike Currie, Shelley Harding, Scooter, Darren Wheaton.
Regrets: Kevin Estabrooks, Sarah Carrigan-Kent, Zach Ball, Iain MacLeod.
Financial Report:
- Similar to predictions from Scooter’s projected spreadsheet.
- $5.50 pitcher specials during Birthday Week were notable. Very strong sales. No profit on those pitchers, but increased traffic and sales each night as soon as the pitcher specials ended gave a good boost to the end of the month.
Promotions Report:
- Open on New Year’s Eve. Don’t expect a big crowd, but we have a small group of alumni who have booked a social event.
Security Report:
- One very strange security incident, which involved a slight altercation in Pub on the Last Day of Classes. However, most of the background and issues occurred outside the Pub in the weeks leading up to the incident. Scooter turned everything over to the University to deal with.
Old Business:
- Board members discussed three long-term (fiscal 2009-2010) options that Darren had presented to all Board members. Each member gave their personal choice among the three options, and some brief reasons for their decision. Although many members noted that none of the options were particularly attractive, there was unanimous consensus to forge ahead and operate under the assumption that we are not insolvent yet. Members also recommended spending a small budget on some infrastructure projects that would show students that we really are trying to respond to their needs. University approved the projects that were discussed (follow-up on paintings by Corey Isenor, and construction of a small portable DJ booth).
Other Business:
- Recommended that Scooter meet with Gracie’s Café and try to see if any cross-promotional ideas can be attempted.
- Talked about the effectiveness of the Pub’s Facebook Group, and the possibility of migrating it to a Fan Page instead. Scooter was going to research this idea.
- Suggestion to allow each residence to add a special “Theme Drink” to our menus, and they get to choose the name and ingredients. Scooter planned to address this possibility over the break.
- Talked about potential changes to the Board structure in the future.
- Talked about asking Commerce Groups to consider using the Pub as project data.
Next meeting: January 11th, 2010
Regrets: Kevin Estabrooks, Sarah Carrigan-Kent, Zach Ball, Iain MacLeod.
Financial Report:
- Similar to predictions from Scooter’s projected spreadsheet.
- $5.50 pitcher specials during Birthday Week were notable. Very strong sales. No profit on those pitchers, but increased traffic and sales each night as soon as the pitcher specials ended gave a good boost to the end of the month.
Promotions Report:
- Open on New Year’s Eve. Don’t expect a big crowd, but we have a small group of alumni who have booked a social event.
Security Report:
- One very strange security incident, which involved a slight altercation in Pub on the Last Day of Classes. However, most of the background and issues occurred outside the Pub in the weeks leading up to the incident. Scooter turned everything over to the University to deal with.
Old Business:
- Board members discussed three long-term (fiscal 2009-2010) options that Darren had presented to all Board members. Each member gave their personal choice among the three options, and some brief reasons for their decision. Although many members noted that none of the options were particularly attractive, there was unanimous consensus to forge ahead and operate under the assumption that we are not insolvent yet. Members also recommended spending a small budget on some infrastructure projects that would show students that we really are trying to respond to their needs. University approved the projects that were discussed (follow-up on paintings by Corey Isenor, and construction of a small portable DJ booth).
Other Business:
- Recommended that Scooter meet with Gracie’s Café and try to see if any cross-promotional ideas can be attempted.
- Talked about the effectiveness of the Pub’s Facebook Group, and the possibility of migrating it to a Fan Page instead. Scooter was going to research this idea.
- Suggestion to allow each residence to add a special “Theme Drink” to our menus, and they get to choose the name and ingredients. Scooter planned to address this possibility over the break.
- Talked about potential changes to the Board structure in the future.
- Talked about asking Commerce Groups to consider using the Pub as project data.
Next meeting: January 11th, 2010
Board Minutes, November 30th, 2009
Present: Dan Gillespie, Michelle Strain, Patrick Forestell, Iain MacLeod, Evan Scully, Zach Ball, Dan Wortman, Mike Keech, Mike Currie, Shelley Harding, Scooter, Darren Wheaton.
Regrets: Kevin Estabrooks, Sarah Carrigan-Kent.
Guests: Trevey Davis (SAC President), Ben Turkel (Student Senator, Member of Liquor Policy Committee), Julie Stevenson (Argosy).
Approval of Minutes from previous meeting. Prospective minutes were amended to fix spelling mistakes, and to provide copies of handouts provided to the Board, and to ensure that the Subcommittee compositions were included.
Old Business:
- Back to a discussion about the future of the Pub.
- Sold one of the pool tables for $500. Waiting for the mover to find time to remove it.
- Michelle provided copies of the lease for Scooter.
- Suggested renovations were not approved. Should try to fix the sound (acoustics) issues, but there is no money. Maybe put carpet on the walls? No money for benches. The University has offered to patch the walls. We are now allowed to hang pictures or posters if we desire. Wainscoting would be $7000 to $8000. Just a simple chair rail would be $3800. We don’t have enough money for that. University will repair pock marks in walls for free. There was a motion approved to look into hanging posters behind plexiglass or to get them laminated to protect them.
Scooter handed out a new income statement, based on the one circulated last week, but with some minor revisions. Assuming the loss of 1/3 of pool revenue with the first pool table sold, elimination of Solarium rental costs for Fridays, and cutting back one CP per week.
The Board suggested Kevin’s presence at the next meeting to present financial statements.
Scooter handed out a cash flow statement. Come February of 2010, he estimates that we will have less than $5000 in the current account.
Lots of discussion about what the Board wants. Varying opinions, but no Board members want to give up before April. Mike Currie suggested that we need to rebrand and find loyalty. Patrick Forestell suggested that we need a restructuring of the Board.
Board approved an expenditure of up to $500 (value of the pool table that was sold) for an investment into art/canvasses to add some colour to the walls.
Board went in-camera for a discussion.
Next meeting: December 20th, 2009
Regrets: Kevin Estabrooks, Sarah Carrigan-Kent.
Guests: Trevey Davis (SAC President), Ben Turkel (Student Senator, Member of Liquor Policy Committee), Julie Stevenson (Argosy).
Approval of Minutes from previous meeting. Prospective minutes were amended to fix spelling mistakes, and to provide copies of handouts provided to the Board, and to ensure that the Subcommittee compositions were included.
Old Business:
- Back to a discussion about the future of the Pub.
- Sold one of the pool tables for $500. Waiting for the mover to find time to remove it.
- Michelle provided copies of the lease for Scooter.
- Suggested renovations were not approved. Should try to fix the sound (acoustics) issues, but there is no money. Maybe put carpet on the walls? No money for benches. The University has offered to patch the walls. We are now allowed to hang pictures or posters if we desire. Wainscoting would be $7000 to $8000. Just a simple chair rail would be $3800. We don’t have enough money for that. University will repair pock marks in walls for free. There was a motion approved to look into hanging posters behind plexiglass or to get them laminated to protect them.
Scooter handed out a new income statement, based on the one circulated last week, but with some minor revisions. Assuming the loss of 1/3 of pool revenue with the first pool table sold, elimination of Solarium rental costs for Fridays, and cutting back one CP per week.
The Board suggested Kevin’s presence at the next meeting to present financial statements.
Scooter handed out a cash flow statement. Come February of 2010, he estimates that we will have less than $5000 in the current account.
Lots of discussion about what the Board wants. Varying opinions, but no Board members want to give up before April. Mike Currie suggested that we need to rebrand and find loyalty. Patrick Forestell suggested that we need a restructuring of the Board.
Board approved an expenditure of up to $500 (value of the pool table that was sold) for an investment into art/canvasses to add some colour to the walls.
Board went in-camera for a discussion.
Next meeting: December 20th, 2009
Saturday, January 2, 2010
Minutes from November 23rd, 2009
Present: Dan Gillespie, Dan Wortman, Shelley Harding, Michelle Strain, Sarah Carrigan-Kent, Patrick Forestell, Scooter, Zach Ball, Evan Scully, Iain McLeod, Mike Keech, Darren Wheaton
Regrets: Kevin Estabrooks, Mike Currie
Guests: Trevey Davis, Ben Turkel, Julie Stevenson
David Stewart arrived to sign off on Personal History Reports for the Provincial Liquor Board.
Board approved idea to audio record the meetings, but decided against video taping the meeting.
Approval of Guests, all guests unanimously approved.
Old Business:
- Still no replacement for Bill Waterman.
New Business:
Scooter handed out a Projected Income Statement for the remainder of the year. The statement projected a possible loss of $26,000 for the 2009-2010 fiscal year, and Scooter estimated a sensitivity analysis for a range between $21,000 to $28,000. Michelle mentioned that we still owe about $8400 on outstanding loan payments, so we could need to close doors between February and April, depending on cash flow. Scooter handed out a memo with potential courses of action, and assigned several subcomittees to look into things.
List of Subcommittees Formed:
Committee #1: Rent Investigation
Zach Ball, Pat Forestell, and Sarah Carrigan-Kent to investigate rents at other downtown Sackville facilities and at other Maritime Universities, to give useful metrics on a per-square foot basis.
Committee #2: Support from the Top
Pat Forestell, Sarah Carrigan-Kent, and Trevey Davis to approach President Campbell and convince him of how much the students want to see the Pub improved, and ask for top-down support to decorate the Pub.
Committee #3: Effectiveness of Solarium
Evan Scully & Mike Keech to write a report for David Stewart about the effectiveness of the Solarium as a shared space.
Committee #4: Restructuring the Loan
Michelle Strain to examine how the loan could be restructured to reduce our cash flow obligations.
Lots of discussion about various options, although Scooter recommended that the meeting be cut short (after a couple hours) so people could go home to digest the info presented thus far, and so various sub-committees could work on fact-finding missions.
Please see the following attachments to review files distributed at the meeting. Files may be updated in the future as these are ongoing financial analysis tools. Right-click to download to your local computer, since these are not set up as web files:
Projected Income (Excel spreadsheet format)
Notes in Budgeting Assumptions (MicroSoft Word format)
Next meeting scheduled for Monday, November 30th, at 6pm.
Regrets: Kevin Estabrooks, Mike Currie
Guests: Trevey Davis, Ben Turkel, Julie Stevenson
David Stewart arrived to sign off on Personal History Reports for the Provincial Liquor Board.
Board approved idea to audio record the meetings, but decided against video taping the meeting.
Approval of Guests, all guests unanimously approved.
Old Business:
- Still no replacement for Bill Waterman.
New Business:
Scooter handed out a Projected Income Statement for the remainder of the year. The statement projected a possible loss of $26,000 for the 2009-2010 fiscal year, and Scooter estimated a sensitivity analysis for a range between $21,000 to $28,000. Michelle mentioned that we still owe about $8400 on outstanding loan payments, so we could need to close doors between February and April, depending on cash flow. Scooter handed out a memo with potential courses of action, and assigned several subcomittees to look into things.
List of Subcommittees Formed:
Committee #1: Rent Investigation
Zach Ball, Pat Forestell, and Sarah Carrigan-Kent to investigate rents at other downtown Sackville facilities and at other Maritime Universities, to give useful metrics on a per-square foot basis.
Committee #2: Support from the Top
Pat Forestell, Sarah Carrigan-Kent, and Trevey Davis to approach President Campbell and convince him of how much the students want to see the Pub improved, and ask for top-down support to decorate the Pub.
Committee #3: Effectiveness of Solarium
Evan Scully & Mike Keech to write a report for David Stewart about the effectiveness of the Solarium as a shared space.
Committee #4: Restructuring the Loan
Michelle Strain to examine how the loan could be restructured to reduce our cash flow obligations.
Lots of discussion about various options, although Scooter recommended that the meeting be cut short (after a couple hours) so people could go home to digest the info presented thus far, and so various sub-committees could work on fact-finding missions.
Please see the following attachments to review files distributed at the meeting. Files may be updated in the future as these are ongoing financial analysis tools. Right-click to download to your local computer, since these are not set up as web files:
Projected Income (Excel spreadsheet format)
Notes in Budgeting Assumptions (MicroSoft Word format)
Next meeting scheduled for Monday, November 30th, at 6pm.
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