UCD Students’ Union is set to run to a deficit of €26,438 for the year 2016/2017. The amount was announced at union council last night.
President of UCDSU, Conor Viscardi explained that much of the money will go towards campaigns and events: “when we were developing the budget for this year we factored in the cost of the expanded projects.”
UCDSU is expected to run into a deficit for six months of the year, with total expenditure for the year expected to be €1,037,021, for the year ending June 30th, 2017.
Four years ago, it was revealed that UCDSU was in debt of over €1.4 million. VIscardi noted that as the union was emerging from a period of austerity, more funds were available to be used for student services. He also stated that the union were considering a financial strategic plan for the future.
The union is not expected to run into debt as a result of the deficit, with the extra costs to be covered by reserve funds. Viscardi explained “If you look at the money that the union is running on it is operational costs, €26,000 deficit is quite minimal in comparison to the other figures we’re using. But like I said, because we have a modest amount of funds in a reserve… that compensates for this deficit.”
The budget reveals that the SU budgeted €8,000 on the recent class reps for the month of October; this is alongside the costs of the SU elections in March which are also projected to be €8,000.
Between September and October, the SU have €12,000 budgeted under “class rep training/activities”, while items like orientation week and exam bus services also make for big investments during the year.