The AMS services are financially on track at the mid-year mark, AMS Vice-President (Operations) Leslie Yun said.
Although all of the services’ financial statements as of Oct. 31 show a deficit, most are close to their budgeted deficit figures and some services are showing a lot of improvement, she said.
Oct. 31 is the mid-year mark for the AMS’s 2009-10 term, which began on May 1.
The AMS operates 14 services, which include the Common Ground coffee house, Destinations, the Publishing and Copy Centre (P&CC), Queen’s Student Constables, Tricolour Outfitters, the Used Book Store, Alfie’s nightclub, the Queen’s Pub, Walkhome, Yearbook and Convocation Services, the Guide to Queen’s Agenda, CFRC fm radio station, the Journal and Queen’s T.V.
“One of the biggest differences this year is for the P&CC,” Yun said, adding that the P&CC has a deficit of $11,607.73 as By Gloria Er-Chua News Editor
The AMS services are financially on track at the mid-year mark, AMS Vice-President (Operations) Leslie Yun said.
Although all of the services’ financial statements as of Oct. 31 show a deficit, most are close to their budgeted deficit figures and some services are showing a lot of improvement, she said.
Oct. 31 is the mid-year mark for the AMS’s 2009-10 term, which began on May 1.
The AMS operates 14 services, which include the Common Ground coffee house, Destinations, the Publishing and Copy Centre (P&CC), Queen’s Student Constables, Tricolour Outfitters, the Used Book Store, Alfie’s nightclub, the Queen’s Pub, Walkhome, Yearbook and Convocation Services, the Guide to Queen’s Agenda, CFRC fm radio station, the Journal and Queen’s T.V.
“One of the biggest differences this year is for the P&CC,” Yun said, adding that the P&CC has a deficit of $11,607.73 as of Oct. 31.
In 2008-09, the store finished with a $34,080.84 profit.
“Last year’s performance was an anomaly,” she said.
The copy centre ran into copyright issues last year with Access Copyright when it misinterpreted some of the , she said. As a result, the P&CC no longer offers reserve readings for students to photocopy, which cut its revenue for 2009-10.
Yun said it’s difficult to calculate the effect of the discontinuation of the reserve readings because students photocopy the readings themselves so they’re simply counted as copies on the self-serve photocopiers. However, the P&CC is budgeted to finish the 2009-10 year with a deficit of $9,549.55, she said.
Yun said Tricolour Outfitters is outperforming its budgeted figures.
Tricolour Outfitters, which sells clothing and Queen’s merchandise, is part of The AMS Merchandise Services (TAMS) along with the Used Book Store.
TAMS was projected to have a deficit of $20,323.26 as of Oct. 31, Yun said. The actual figure shows it’s at a deficit of $1,104.55.
“We’re $20,000 ahead of where we thought we would be.”
Tricolour Outfitters was budgeted to make $84,134.06 in clothing sales at the mid-year mark and $140,134.06 for 2009-10. As of Oct. 31, the store had actually sold $101,186.73 in clothing.
Yun said the AMS Board of Directors is working on long-term financial plans for the services. The board is keeping a close eye on the P&CC and the Common Ground next term, she said.
The Common Ground has made $15,824.81 less than budgeted in sales but has cut almost $20,000 in expenses, mostly related to staffing costs, Yun said.
However, it’s still unclear whether the Common Ground’s move to the Queen’s Centre will have a positive or negative effect on its performance in the winter term.
“Common Ground is seeing more competition with the expanded food services and the Tea Room.”
—With files from Holly Tousignant
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