Could people not auction off the Sabb team responsible a la Slave Auction night, but instead keep the profits and never take the aforementioned Sabbs back? That should get another ?20 back towards fiscal security...
I think this shows why Council is incapable of dealing with important financial decisions and we'd all be better off if this sort of business was dealt with by the Trustee Board. Of course, this doesn't mean Council shouldn't be consulted.
I'd also be interested to know what sort of advice the Union's finance team were offering to the Executive Committee at the time this decision was made.
Inept members of council appear to have pulled a fast one, without considering where the money would actually come from. Union has insurance, but in the event of financial catastrophe the reserve is supposed to keep us solvent until we can sort out more permenant solutions.
At least our current Sabb team is keeping people informed instead of covering up. I don't envy the job of trying to sort out the financial mess.
"The elimination of reserves which are linked to specific areas of the union's activities such as the bar or the shop is a particularly risky, if currently unavoidable situation. Should for example the Union Bar suffer a major fire over the summer there would be no funds available for renovation."
There was a large group of people (me included) who voiced our concers with the likes of Mr Tibbits at the ridiculous situation of spending all the reserves on the building. The decision was "hidden" nicely in a President's report to Council. The past sabbaticals are entirely to blame.
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