Trinity College Dublin Students’ Union (TCDSU) recorded a major increase to its accounting shortfall in its most recent financial year, up from €14,837 to more than €70,000, its accounts for the year show.
The increased deficit is largely down to the expenses of May’s repeal referendum, as well as to the costs of the Take Back Trinity protests in March, which meant TCDSU spent almost €45,000 more in the category of campaigns.
The union also points to the costs associated with The University Times, including the salary and campus accommodation of the paper’s editor. In 2014, students voted to introduce an independent editor of the newspaper.
Despite this, the union’s publication expenses – which include running the union’s website and printing thousands of student diaries every year – fell from €43,296 to €41,986.
For the second year in a row, the accounts also state that TCDSU’s spending on welfare campaigns and its class rep training weekend are in need of review “in light to the new financial situation”.
The report warns that the SU Cafe, located in Goldsmith Hall, may face “closure” if it fails to eliminate its deficit. The cafe’s shortfall more than doubled in the last year, jumping from €1,613 to €3,836.
In addition, the union’s shops both recorded significant deficits, after combined expenditure by TCDSU on both rose by more than €35,000. Between them, the union’s shops lost €32,087 last year, after recording a surplus of €10,172 the year before. The union attributed the loss in turnover to forced closures throughout the year due to adverse weather conditions, as well as refurbishments to the Hamilton shop, which cost €17,589.
The union’s expenditure on staff salaries remained largely constant at just over €200,000. This figure does not include the wages and salaries of union officers or of shop staff.
TCDSU Administrative Officer Simon Evans – who compiled the accounts as co-treasurer of the union alongside the president – said in his report that the union “needs to deal with this now”.
Evans said TCDSU needs to get back to obtaining a surplus “within the next two years”.
In his overview of the accounts, TCDSU President Shane De Rís described the deficit as a “substantial increase”. He said the repeal and Take Back Trinity campaigns cost the union €20,125 and €10,615 respectively.
De Rís said The University Times has not yet managed to become financially self-sustaining, “despite the trojan efforts of the Editors, alongside the SU, to increase advertisement income”.
“The recurring loss-making activities of the Union will now have to be reviewed. The future of the SU and the services it provides are at serious risk”, De Rís added.
Speaking to The University Times last year, a person with knowledge of the union’s accounts over multiple years criticised the focus on the newspaper in the union’s accounts. “It is quite strange to be suffering the consequences of expenses flagged so long ago”, they said. They spoke on the condition of anonymity because they still act in an advisory capacity to the union on a regular basis.
They went on: “It is not that significant an expenditure relative to a lot of the other things that the students’ union spends. It is also the most successful thing the students’ union spends money on.”
The accounts will be presented at Tuesday’s meeting of the union’s council.
