Trinity’s Pavilion Bar (the Pav) is likely to break even for the 2019/20 financial year, despite being closed since mid-March due to the coronavirus pandemic.
Speaking at the Dublin University Central Athletic Club (DUCAC) AGM, Pav chairman Cyril Smyth said that while he has not seen the bar’s full accounts, “the financial year balances just about.”
“In essence, the Pav made no income between March 13th to the end of the financial year”, he added.
Smyth also said that the Pav had been supporting full-time workers who were on the government’s temporary wage subsidy scheme from March until the scheme was wound down in August.
The Pav doesn’t currently owe any money to suppliers – while they do owe some money to Revenue, that money has been set aside so that it can be paid when needed.
“We don’t have bills to pay that are outstanding”, he said.
DUCAC’s honorary senior treasurer John Bolton said that DUCAC got €316,000 from capitation and club subscriptions, down from €370,000 last year. DUCAC administrator Aidan Kavanagh added that the capitation installment was sent in at the end of the financial year at the end of May or start of June and was not included in the numbers. College also did not withhold funds from DUCAC.
DUCAC would be “slightly in surplus”, Bolton said.
Bolton added that DUCAC did not have a full set of accounts yet, but that they would be provided at an EGM which is to be held later in the year.
From the period of June 1st 2019 until March 12th 2020, the Pav had been performing better than it had over the same time period the previous year, with net income up €34,000. Food sales were up €14,000 and beverage sales increased by €18,500.
Other income, mainly from advertising panels, was up €3,500.
Smyth also said this evening that the Pav wouldn’t be able operate on a profit unless coronavirus restrictions were to go back down to level two in Dublin.
The Pav has been closed since March 13th, after the country was put on lockdown in response to the pandemic.
“Realistically”, Smyth said “until we get back to level two, operating the Pav profitably is not going to happen until next year”.
