Annual General Meeting

12pm, Monday 30 April


Location

Farnham – W612

Epsom – 122

Rochester – X-Change

Canterbury – Boardroom


Agenda

  1. Ratification of minutes of previous AGM held on 6 September 2017
  2. Receive the report of the Trustees on the Union’s activities since the previous AGM
  3. Receive the accounts of the Union for the previous financial year ending 31 July 2017
  4. Appointment of the auditors
  5. Approve the list of Affiliations of the Union
  6. Open questions to the Trustees by the Members.

Minutes

UCASU ANNUAL GENERAL MEETING (AGM) MINUTES

WEDNESDAY 6th March 2017, 13:00-14:00

 

 

Gilwell Park Scout Association

 

These are the minutes of The University for the Creative Arts Students’ Union, Annual General Meeting, under the marketing name of All Students Meeting.

 

The meeting was held on 6th September at 13:00 simultaneously held at Gilwell Park Scout Association

 

 

The meeting began at 13:00.

 

 

  1. Welcome from the Chair

 

TM welcomed students to the Annual General Meeting and thanked them for attendance

 

TM asked to check the amount of members in attendance.

It was agreed that at least 1% of members were in attendance and that quorum had been reached.

TM was satisfied that the requirements of article 30 of UCASU’s constitution had been met.

 

 

  1. Ratification of minutes of previous AGM;

 

TM asked the members present to approve the minutes from the previous year’s AGM.

 

The minutes were approved unanimously with no objections

 

  1. Receive the report of the Trustees on the Union’s activities since the previous AGM;

 

TM explained that because of the timing of this year’s AGM, they were unable to provide a report for the trustees, as they were new into post and therefore had only been in role for two months.

 

TM spoke about the training that the new officers received and PD and RC went into detail about the priority campaigns for this year’s officer team.

 

 

 

  1. Receive the accounts of the Union for the previous financial year;

 

PD introduced the financial statements for 2015/16 as Chair of Finance Committee.

 

PD explained that UCASU is required to produce a set of financial accounts that detail exactly where the union’s money is spent and how it is accounted for.

These are prepared under the legal requirements of the Charities Act and are signed off by last year’s auditor as being a fair and accurate representation.

 

 

PD explained our income. Our total income is £443,847 with the majority of our money (83%) comes from the university in the form of a block grant. This is money comes straight from the university each year and is made up primarily of money from tuition fees.

 

We then receive the following additional income

 

–           £30,382 comes from entertainment income; the vast majority of this is from Farnham events through ticket sales.

–           £7,359 comes from pool tables and leftover bar stock purchased when the university took control of the bar in 2015. The pool tables at Farnham are still run by the SU.

–           £31,974 came from other additional income sources. This includes merchandise (UCA hoodies), NUS cards, Freshers Fair stall hire by commercial companies (i.e. Dominos)

–           £5,118 is restricted income for clubs and societies, which can only be spent by the individual clubs and societies that hold those funds.

 

 

PD then explained our expenditure. Our total expenditure in 2015/16 is £479,625 with the majority of this money (over 90%) is spent straight back on core union activities. This includes clubs and societies, course reps, elections and democratic engagement.

 

Of that £434,494 that is spent on this, £335,639 (just over 77%) is spent on our full time staff, which make sure that the union is running on a day-to-day basis. The remaining part of this money is spent on delivering core activities and making sure essential parts of the organisation are delivered.

 

The remaining £45,131 is spent on making sure that the commercial services element that supports the union’s activities.

Of these costs,

 

–           £33,846 were spent on delivering our entertainments programme.  This is essentially how much it costs to put on events and as you can see from the previous slide, events cost lots of money to put on.

–           £6.610 was spent on supporting other income sources such as merchandise, NUS cards etc.

–           £4,675 was remaining money that contributed to the final parts of running the bar, which won’t be repeated in future years.

 

 

This means that the total budget for the year is that the union had a budget deficit (loss) of £40,110.  This was planned as a deficit and therefore we reached our budget target for the year.

 

PD explained the following reasons for the deficit;

 

1)        In order to improve areas such as clubs and societies, course reps and democracy, we decided to invest in 3 x 1 year staff posts that supported these areas. This would have totalled approximately £70,000 and by working with the university, they have agreed to provide additional support in order to make two of these permanent from last summer and hopefully the third one from this year.

2)        As a result of the union underspending its budget for a number of years, we have reserves (kind of a savings account) of £274,726. This means that even spending £40,000 this year, we still have a healthy reserve of £234,616. We have decided to invest an additional £50,000 of this over the next three years , with £42,000 invested in supporting clubs and societies and a further £8,000 on rebranding the union. This will still leave us with a healthy amount of savings to ensure the union is financially stable.

 

A vote was taken and it was unanimously agreed to approve the accounts and therefore the accounts were passed by the membership.

 

  1. Approval of the Auditors

 

PD introduced the auditor approval and explained what an auditor is and why we have an auditor.

An auditor is someone who is responsible for evaluating the validity and reliability of a company or organization’s financial statements. The accounts for 2015/16 are prepared and scrutinised by an organisation and individuals who are outside the SU and are trained professionals who are paid to make sure that any organisation is honest and reliable with how they spend and account of their money.

Any organisation which has a turnover, which is the amount of money taken by a particular organisation, of over £500,000 is required by law to be audited.

 

PD explained that last year, the AGM voted to change auditors for the first time and appointed Kingston Smith as our new auditors. PD explained that they have been a great asset to the SU in such a short time, and they have helped guide and support the union in making our finances much more transparent and make sure that the union is able to spend money in a much more efficient and cost effective manner.

Kingston Smith are one of the Top 20 accountancy firms in the country, and they specialise in providing financial support to small to medium organisations in particular to Students’ Unions and arts organisations.

They are one of only 4 recommended suppliers of audit services by NUS and we value the input and support that they give us.

 

A vote was taken and it was unanimously agreed to approve Kingston Smith and therefore the auditors were approved by the membership.

 

  1. Approval of the Affiliations

 

RC presented the affiliations of UCASU and asked the membership to approve these affiliations for this year.

 

The affiliations are;

 

  1. National Union of Students (NUS)
  2. British University & Colleges Sport (BUCS)
  3. Nightline
  4. Surrey County RFU Ltd
  5. Surrey County Football Association LTD
  6. Filmbank
  7. Basketball England

 

RC asked if members would like to approve the affiliations individually or together as a group.

 

A vote was taken and it was unanimously agreed to approve the affiliations and therefore the list of affiliations were approved by the membership.

 

  1. Open questions to the Trustees by the Members.

 

TM asked if there were any open questions.

There were no open questions to the trustees by members

 

TM then closed the meeting at 13.30

 

Audited Accounts

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UCASU Audited accounts 2017 122.80 KB 16 downloads

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List of Affiliations

1. National Union of Students (NUS)
2. British University & Colleges Sport (BUCS)
3. Nightline
4. Surrey County RFU Ltd
5. Surrey County Football Association LTD
6. Filmbank
7. Basketball England

 


 

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