Union bar posts surprise deficit
Union Bar
The Union bar has posted an unexplained £13,000 shortfall. The bar made a £4,000 loss in Hilary term, after predictions had indicated it was expected to make a £9,000 profit. The issue was raised at Standing Committee this week by the Senior Treasurer Stephen Dixon. In his comments on the accounts, he claimed the poor performance of the bar had “completely destroyed” an otherwise excellent financial performance.
Dismissing the possibility the discrepancy was due to inaccuracies in stock purchases, he suggested the difficulties were due to lack of security in the bar. “As in previous years there is absolutely no way that any member of staff can be held responsible and accountable for the bar unless and until the stock is locked away when the bar is not properly staffed. “The point has already been raised by our auditors and will no doubt feature again this year.
During the meeting he said: “I’m not saying it is all due to leakages but I’d be surprised if none of it was.” ‘Leakages’ are though to be instances of stock being taken without being paid for. President Richard Tydeman played down the suggestion: “It's not my belief that ‘leakage’ could account for much of the loss made; drinks for speakers, or for committee working over the vacation are scrupulously recorded with the expenditure placed in the accounts.
He suggested the losses were due to natural flucuations in bar usage. In Hilary term last year, by contrast, the bar posted a £7,000 profit. Possible measures to increase security include fitting a grill over the bar. Richard Tydeman is dubious, describing the idea as “a red herring”. As the current situation stands, only three people, including the President, have access to the bar when it is locked.
In standing committee, President-Elect Chris Farmer also objected to the plans: “If it’s only the President that is being locked out from the bar, it looks like the blame is placed on the President.” The Senior Treasurer also recommended current prices in the bar, last updated in 2003, should be urgently reviewed. Tydeman denied rises are inevitable, but told The Oxford Student: “My personal view is that it would be highly advisable to consider a rise.
However, he added: “There are certainly no plans to make alterations in the immediate future and the bar's loss last term is by no means a disaster for the Union by recent standards.”
19th May 2005