NUGSS Dealing With Debt

Prince George, BC, Canada / CKPG News
NUGSS Dealing With Debt

The Northern Undergraduate Student Society at UNBC has found itself in financial hot water, in debt to the tune of $100,000. President Arctic Cunningham says there is a host of reasons for that.
“Our health and dental plan costing more than the amount  that we took in. So we had to cover that,” says Cunningham, who adds some of the events put on by the Society did not make enough money to break even.
“Beyond that, there are systemic issues that we feel we need to address. The biggest one being that we’ve been taking the money that we collect as a building fee [for the Northern Undergraduate Student Centre] and taking part of that to pay off the loan that we have on the building, but the other part has been going into general revenue.”
It means no rainy day reserve was established should the building need upkeep.
However, following its AGM last week, the Board of Directors has voted to take a pay cut of 7.27% for the remainder of the year, the General Manager has volunteered to cut his pay by 20% and the Board will reduce the amount it hands out to the university’s various clubs by 20% as well.
But the fate of the Thirsty Moose Pub is what is generating a lot of interest. It operates at a loss of $40,000 per year and has been in each of the past six years.
“When we lose $40,000 in the Moose and we have to take that money out of student fees to make that business viable, that’s $40,000 that could have gone into our food bank, could have gone into our emergency financial aid fund,” she says. “It’s just irresponsible to be floating our commercial operations with student fees.”
The Society is looking at the idea of leasing the pub to a third party, and doing the same with one of the Degrees Coffees. But any of those changes, if needed, won’t happen until September 2017.

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