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
Thursday, January 14, 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.
Minutes from November 9th, 2009
Present : Patrick Forestell, Dan Wortman, Evan Scully, Mike Keech, Darren Wheaton, Michelle Strain, Shelley Harding, Daniel Gillespie, Sarah Carrigan-Kent, Zach Ball, Scooter, Iain McLeod, Mike Currie.
Regrets: Kevin Estabrooks.
Resignations: Bill Waterman.
Discussed replacing Bill Waterman, bring nominations to next committee meeting.
Old Business:
- Membership update 353 paid, $14967 before taxes (net of $13245), still a long way to the goal of 400.
- Feedback from CP's. Working out better than last month. No need for Pub Staff to do it, doubt we could staff it.
- No movement on Pub Staff doing more cleaning. Michelle spoke to Joanne about including Solarium in her cleaning duties.
New Business:
- Letter of appeal from a student who is currently banned. Wants summer time included in his ban, to shorten the overall duration. Summer is normally excluded but hard to equate to equivalent time during school year. Ban was discussed and then voted on, and the Board decided to uphold it. Darren will let him know.
- Opening on Tuesday? Due to the Keiths Crew at Uncle Larry's, there is doubt that many people would show up. Scooter will find someone to work and try it out. No dance floor in Solarium, too expensive.
Financial Report:
-Did we ask Kevin (Accountant) to come? Scooter gave report.
- Cash balance healthy, COGS up a bit due to sales discounts, rent $4000 in September, $3000 in October. Talked about changing it to a standard amount per month, but Kevin vetoed it on the principle that the change would not conform to GAAP without a new lease.
- Question about Bell Mobility for Scooter, $24 for cable.
- Revenue from SAC is in the cover charge revenue ($1500 from Halloween, the Pub’s share of the event ticket prices), about 600-700 came through the door.
- Getting rid of wine, will no longer be offered. No one drinks Scotch anymore, so we will be carrying limited amounts.
- Pop/Coffee account no longer being used.
- Negative net income for predicted for November, but there is cash in the bank account. Scooter is worried about December.
Promo Report:
- Send out survey seeing which nights would be better for last class bash, either Saturday the 5th or Monday the 7th.
- Wednesdays are experiencing poor sales. Don't want to lose Wednesdays, which are done in partnership with the SAC.
- Ceiling in men's bathroom is too low, University is going to have a tour of problems with the Pub on Tuesday.
- List of events. Moose light lime launch is being held shortly, now that the football season is over.
Security Report:
- Men's washroom ceiling destroyed.
- Some smuggling
Managers' Report:
-Coat check is booked until end of February. Expected revenue of about $2400. Need to buy a 3rd coat check rack, but at $1500, probably not smart to do it this year.
Other:
-17 year financial spreadsheet gone over by Michelle.
Meeting adjourned. Next meeting planned for December 20th, 2009.
Regrets: Kevin Estabrooks.
Resignations: Bill Waterman.
Discussed replacing Bill Waterman, bring nominations to next committee meeting.
Old Business:
- Membership update 353 paid, $14967 before taxes (net of $13245), still a long way to the goal of 400.
- Feedback from CP's. Working out better than last month. No need for Pub Staff to do it, doubt we could staff it.
- No movement on Pub Staff doing more cleaning. Michelle spoke to Joanne about including Solarium in her cleaning duties.
New Business:
- Letter of appeal from a student who is currently banned. Wants summer time included in his ban, to shorten the overall duration. Summer is normally excluded but hard to equate to equivalent time during school year. Ban was discussed and then voted on, and the Board decided to uphold it. Darren will let him know.
- Opening on Tuesday? Due to the Keiths Crew at Uncle Larry's, there is doubt that many people would show up. Scooter will find someone to work and try it out. No dance floor in Solarium, too expensive.
Financial Report:
-Did we ask Kevin (Accountant) to come? Scooter gave report.
- Cash balance healthy, COGS up a bit due to sales discounts, rent $4000 in September, $3000 in October. Talked about changing it to a standard amount per month, but Kevin vetoed it on the principle that the change would not conform to GAAP without a new lease.
- Question about Bell Mobility for Scooter, $24 for cable.
- Revenue from SAC is in the cover charge revenue ($1500 from Halloween, the Pub’s share of the event ticket prices), about 600-700 came through the door.
- Getting rid of wine, will no longer be offered. No one drinks Scotch anymore, so we will be carrying limited amounts.
- Pop/Coffee account no longer being used.
- Negative net income for predicted for November, but there is cash in the bank account. Scooter is worried about December.
Promo Report:
- Send out survey seeing which nights would be better for last class bash, either Saturday the 5th or Monday the 7th.
- Wednesdays are experiencing poor sales. Don't want to lose Wednesdays, which are done in partnership with the SAC.
- Ceiling in men's bathroom is too low, University is going to have a tour of problems with the Pub on Tuesday.
- List of events. Moose light lime launch is being held shortly, now that the football season is over.
Security Report:
- Men's washroom ceiling destroyed.
- Some smuggling
Managers' Report:
-Coat check is booked until end of February. Expected revenue of about $2400. Need to buy a 3rd coat check rack, but at $1500, probably not smart to do it this year.
Other:
-17 year financial spreadsheet gone over by Michelle.
Meeting adjourned. Next meeting planned for December 20th, 2009.
Subscribe to:
Posts (Atom)