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.