â–ş Listen Live
â–ş Listen Live

UNBC Undergraduate Society facing financial turmoil

The UNBC Northern Undergraduate Student is facing a period of deep austerity as it struggles to balance its books.

An audit has found that the group owes $100,000 to BC Transit over the Upass, due to a historical mismanagement of funds stretching back several years.

For example, VP of Finance Eric Depenau says in 2012 the organization agreed to tie student fees to the CPI, or inflation, “and through communication errors for four years that wasn’t implemented between ourselves and the university. It’s costing us anywhere from $30-50,000, looking at our projections.”

Depenau says they are also still working to repay another $100,000 loan, which was approved at an AGM or through a referendum in 2012.

The Thirsty Moose Pub lost $40,000 in 2015
The Thirsty Moose Pub lost $40,000 in 2015

The Thirsty Moose Pub has only ever turned a profit once, in a year where they had no food and beverage manager salary to cover. Depenau says prices are a going and up, and the hours of operation will be adjusted.

“The changes that have been put in place… are showing a positive trend, unfortunately at this time that positive trend isn’t going outpace expected losses – last year the Moose had a $40,000”

Depenau says it is entirely possible that the Moose could be leased out to a private operator if they cannot turn the business profitable.

First reported by CFUR, other changes will see current tenants such as CFUR, the Northern Pride Society and Over the Edge begin to be charged rent. The events calendar has also been reworked.

General Manager Duncan Malkinson will also be taking a voluntary 20% pay cut, and the board will cut their stipends by 7.27%.

Depenau says the voluntary cuts show the leadership group’s dedication to the organization, and that they remain optimistic they will be able to pay off their debt and re-right the ship.

“It will be a sustainable organization, with significant assets and we will be able to go forward to service the students of UNBC at all of our campuses in a much more sustainable and holistic way.”

Something going on in the Prince George area you think people should know about?
Send us a news tip by emailing [email protected].

Colin Dacre
Colin Dacre
Raised in Surrey BC, graduate of BCIT that moved north to pursue the news. Email me at [email protected] or find me on twitter

Continue Reading

cjci Now playing play

cirx Now playing play

- Advertisement -

Related Articles

<p>

- Advertisement -
</p>

Latest News

Local cyclist says hit and run highlights the danger riders encounter on regular basis

One suspect who was driving a black dodge 1500 truck was taken into custody. The Tour de North rides is scheduled for September 12th to 18th consisting of an 850-kilometre journey from PG to Prince Rupert raising money for childhood cancer research.

Website refresh surfaces more of your important local stories

Regular visitors to this website will have noticed some changes to the home page and other templates in recent days.

City launching update for Active Transportation Plan

The City of Prince George is launching an update to its Active Transportation Plan, and is inviting feedback from residents. According to the City, the updated plan will guide the development of infrastructure and programs which support safer, more accessible, and more convenient travel options for people of all ages and abilities. 

RCMP looking to identify suspects in repeated vandalism investigation

The Prince George RCMP are looking to identify suspects in an investigation into repeated vandalism at a residence on the 100-block of McQueen Crescent. According to police, the initial investigation began in late May, when unidentified suspects threw a rock through the front window of the home, and spray painted the front with orange spray paint.
- Advertisement -