Newly 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 Brownlee
View Comments Here’s a quick roundup of stories you may have missed today. Annaleigh Ashford to Belt for BroadwayA quartet of Tony winners will headline the sixth annual Broadway Belts for PFFF. Annaleigh Ashford (You Can’t Take It With You), Randy Graff (City of Angels), Cady Huffman (The Producers) and Judy Kaye (Phantom of the Opera, Nice Work If You Can Get It), along with Allegiance’s Telly Leung, have boarded the February 29 event. Emceed by Julie Halston, the Edison Ballroom concert will honor the late AP theater critic Michael Kuchwara and others with Pulmonary Fibrosis.Kevin Spacey to Lead Hollywood StudioKevin Spacey, who recently wrapped up a decade-long tenure as Artistic Director of London’s Old Vic, has now been enlisted to run a Hollywood studio! According to The Hollywood Reporter, the Tony and Oscar winner will take charge of Relativity Studios alongside his Trigger Street partner Dana Brunetti. The pair will assume the roles of chairman and president, respectively, from mid-February.Watch Live Theater in a Hotel RoomFancy hanging in a hotel room with Max Baker, Michael Pemberton and Susannah Hoffman? The Broadway alums have been tapped to star in the New York premiere of Insignificance, which will be staged entirely within a hotel room on the fifth floor of Langham Place, New York. Penned by Tony winner Terry Johnson, the play, which is set in a hotel room in 1953, will be directed by Defibrillator’s James Hillier and is scheduled to begin previews on February 19. The official opening will take place on February 24, with the limited engagement running through March 20.Get Up Close & Personal With Jennifer HollidayAnd we’re telling you that this is not one to miss! Tony winner Jennifer Holliday (Dreamgirls) will take part in a very special Broadway Names With Julie James Live! on January 18. Tickets for the event at 42 West are available here.First Look at Baz Luhrmann’s The Get DownWe have our first trailer for Netflix’s previously reported new musical series The Get Down from Baz Luhrmann! Tony winner Billy Porter and Jimmy Smits, along with a host of newcomers, will appear in the series, which is set in 1970s New York. Check out the video below.
A 79-year-old man is now facing animal abuse charges after he tied his German Shepard to his golf cart and began dragging the dog on a road.The incident occurred in Fort Walton beach near Eglin Parkway and Highway Avenue.Witnesses say the saw the suspect, Dean Woodyatt, driving his golf cart in the road with the dog tied to it and tried to stop him. Woodyatt, however, refused to pull over even when the dog collapsed.A good Samaritan was eventually able to chase Woodyatt down, however, Woodyatt prevented anyone from helping the animal.When authorities arrived, Woodyatt tried to flee the scene but was immediately stopped and taken into custody.The dog, was taken to an animal hospital where it died from heat-related injuries.While no official charges have been filed against Woodyatt as of yet, the Panhandle Animal Welfare Society says they are looking at their options.
Published on April 7, 2014 at 12:49 am Senior Maddie Kobelt cemented herself in the Syracuse history books over the weekend by becoming the 30th player in program history to earn 100 career wins. But the historical benchmark was overshadowed as her team lost to Maryland following five hours of competition. The Orange (4-11, 4-6 Atlantic Coast) cruised to an easy 6-1 victory over Pittsburgh (4-11, 0-11), but SU was unable to win two straight after losing 4-3 to Maryland (6-10, 2-8). On Friday, junior Amanda Rodgers got the momentum going for Syracuse by defeating Pittsburgh’s Taylor Washington 6-3, 6-3. The Orange kept up the pace by sweeping the remaining singles matches, with five of them taking only two sets to complete. It marked the first road victory for SU all season, and its fourth win in the ACC. Kobelt then completed the sweep in singles for Syracuse by defeating Blakely 6-7 (4-7), 6-3, 7-6 (7-3). AdvertisementThis is placeholder textUnfortunately for Syracuse, the team came up just short of winning its second road match when it lost to Maryland on Sunday. The Terrapins imposed their will at home against the Orange. Maddie Kobelt and Valeria Salazar, the top doubles pairing for SU, lost 8-6 to Nataliya Bredikhina and Welma Luus. Olivia Gaudreault and Alexandra Stanova won in convincing fashion by earning an 8-3 win over SU’s Maria Avgerinos and Rhiann Newborn. While the Orange provided a much better fight in its singles matches, it was unable to bounce back from the loss of the doubles point.After earning her monumental win two days prior, Kobelt lost in two sets, 6-3, 6-2 to Stanova. Syracuse did not immediately back down, as Newborn, Valeria Salazar and Komal Safdar won the next three singles matches to keep the Orange within distance of a victory.However, Rodgers was unable to earn the win in her singles match, losing to Nataliya Bredikhina 6-4, 6-7 (7-9), 6-1. Avgerinos was the team’s last hope but was unable to earn the hard-fought victory, losing to Olga Bredikhina 6-7 (8-10), 6-3, 6-3.Syracuse will regroup before traveling next weekend to face Clemson and Notre Dame for its final road matches of the regular season.compiled by Matt Miselis, staff writer, [email protected] Comments Facebook Twitter Google+