Unreliable funding increases OSSL losses

first_imgNewly published financial statements from Oxford Student Services Ltd (OSSL), the commercial arm of OUSU, show that gross profit fell by almost £40,000 between 2005 and 2006.OUSU sabbatical officers have warned that guaranteed funding from the University is the only way to avoid the Student Union’s current financial crisis. Overall turnover is down by around £100,000 and operating profit has fallen by £7,000.Ed Mayne, OUSU Vice-President (Finance) and OSSL Chairman, said that finances were volatile and prone to fluctuating. “Although the turnover for the 2004/5 financial year was high, the income proved to be unsustainable and many changes were made in the 2005/6 academic year. Due to the way OSSL currently operates, income and turnover will always fluctuate,” he said.OSSL plans to introduce a second business manager next year in a bid to increase revenue. “I am confident that the income we will receive in this financial year will be higher than in the previous financial year. OUSU’s publication provision will not change from its current format,” he added.In 2005, OUSU predicted that it would make a profit of £50,000 but in fact incurred a deficit of £42,702. As a result, OUSU was forced to radically reform its operations for creating revenue to remain financially viable. An estimated deficit of £60,000 the following year was proved wrong when the Student Union lost only £32,904 in 2006. The University has previously stressed that it will not provide further financial assistance until OUSU stops making losses, but the University’s Joint Committee has since reconsidered its position.OUSU President Alan Strickland said that the lack of a substantial block grant comparable to those received by student unions at other universities means that OUSU will remain financially weak due to inadequate funding and few permanent staff. “The volatility of OUSU’s commercial income makes it an unreliable source of funding for welfare, representation and other core services,” he said. “Thankfully, the University’s Joint Committee, which oversees OUSU, has accepted this. We are in advanced negotiations with them to gain stable core funding. OUSU has to guarantee provision of its core services without guaranteed funding. This is a serious problem which I hope we can remedy.”He added that OUSU expected greater OSSL profits in 2007, saying, “The overhaul of OUSU’s financial management which we’ve led this year and the hard work of our Business Manager mean that profits are stronger than last year. I’m confident that our subsidiary will be able to donate a healthier profit to OUSU at the end of the year.”Louisa Brownleelast_img read more

EPL: Everton charge into Europe contention with Palace win

first_imgAt the other end of the table, Palace are looking over their shoulders at the relegation zone.Roy Hodgson’s men still have a six-point lead over the bottom three, but have not won in eight games and just once in the league since early December.Bernard gave the hosts a deserved first half lead with a thumping finish from Theo Walcott’s cross to the back post.However, Palace were gifted a route back into the game six minutes into the second half thanks to another error from Everton goalkeeper Jordan Pickford.The England number one’s place at Euro 2020 is under debate and he let Christian Benteke’s shot slip underneath his body as the Belgian striker registered his first goal of the season.Just as Everton were wobbling, though, a moment of magic from Richarlison swung the game back in their favour seven minutes later. Loading… Promoted ContentBest & Worst Celebrity Endorsed Games Ever Made7 Of The Wealthiest Universities In The WorldWhat Happens To Your Brain When You Play Too Much Video Games?10 Risky Jobs Some Women Do5 Of The World’s Most Unique Theme Parks6 Interesting Ways To Make Money With A Drone5 Of The World’s Most Unique Theme ParksHere Are The Top 10 Tiniest Mobile Phones On The Planet!The 18 Most Visited Cities In The WorldWondering What And When Will Finally Be The Undoing Of Us?A Hurricane Can Be As Powerful As 10 Atomic Bombs2020 Tattoo Trends: Here’s What You’ll See This Year Everton moved up to seventh and within five points of the Premier League top four as their resurgence under Carlo Ancelotti continued with a 3-1 win over Crystal Palace on Saturday.Advertisementcenter_img Read Also: Coronavirus stops Ighalo from traveling with United teammates to Spain The Brazilian stormed onto Calvert-Lewin’s flick-on to carry the ball from just inside the Palace half and past Gary Cahill before placing his shot into the far corner.The same two players were involved when Everton sealed the points two minutes from time as Richarlison’s header from a corner came off the bar and Calvert-Lewin turned home his 13th goal of the season.FacebookTwitterWhatsAppEmail分享 Bernard, Richarlison and Dominic Calvert-Lewin scored the goals for the Toffees, who have won five and drawn two of eight league games since the Italian took charge in December.last_img read more

Ernst hears complaints about Corps at Riverton town hall

first_imgRIVERTON — Iowa Senators Chuck Grassley and Joni Ernst are calling on the U.S. Army Corps of Engineers to keep its commitment to repair a key levee near Hamburg.The Corps ordered that the levee be lowered eight feet following flooding in 2011 and residents say that’s one reason this year’s Missouri River flooding was so devastating. Ernst says there are indications the Corps is retreating from its earlier promise to rebuild what’s called the Ditch 6 levee.“They made a commitment to bring that levee up to 919 feet and then they backed off of it,” Ernst says, “so we’ve got to do something about that and we’ll continue to push them.”Ernst held a town hall meeting Wednesday in the small town of Riverton, which is in the far southwest corner of the state and fielded complaints about the Army Corps’ management of the river. Linda White of Hamburg told Ernst her family lost their farm to this spring’s flooding.“Who does the Corps actually have to…answer to?” White asked. “It seems like to us common people that they don’t answer to anybody except for themselves.”Ernst and Missouri Senator Josh Hawley are co-sponsoring a bill calling for the Corps to make flood control of the Missouri River its highest priority.“The Corps will answer to whatever the congress directs, but understand even those of us along the Missouri River corridor have different ideas on what those priorities should be,” Ernst said, “so if we can’t all agree up and down the river system that flood control should be the priority, it’s not going to go anywhere.”And Ernst warned that other representatives want protection for hydroelectricity and recreational projects along the river to be priorities.last_img read more