As the business manager for the Ubyssey Publication Society (UPS), I would like to thank all members for their continued support throughout this past academic year.
This business update covers the period of September 1, 2022 to March 31, 2023. As we returned to normal operations post-pandemic, student editors and staff have moved back into the office spaces and seamlessly transitioned to in-person workplace practices.
This year’s editorial team, led by Charlotte Alden, and our web development team, led by Keegan Landrigan, have combined efforts to create and produce an award-winning publication. The Ubyssey received nine awards for excellence at this year’s Canadian University Press’s annual conference held in Hamilton, Ontario, including Student Publication of the Year! These awards are reflective of the outstanding work and unwavering dedication exhibited by our team of student editors, writers, developers and volunteers.
Moving forward into the summer months and then into Fiscal Year 2023/24, The Ubyssey will continue to publish in both print and online. Print editions will be published twice monthly (monthly during the summer) and our website will continue to be updated daily. The Ubyssey’s operating budget for FY 2022/23 ending August 31, 2023 was $485,000 in total income with expenditures coming in at $475,000. At the three-quarters point in our fiscal plan we are on target to meet our budgeted plans. Any additional monies not spent will be applied to the payment of our $40,000 Canada Emergency Business Account (CEBA) loan taken out at the height of the pandemic which is due in December 2023. Our continued efforts to modernize our website will be aided by an application to the Canadian Periodical Fund for monies designated for web development. We have been informed that The Ubyssey was awarded $37,000 to assist us in these efforts. As a result we have added an additional developer to the summer/winter staff to progress our software development initiatives.
Overall, The Ubyssey projects that student fees, advertising revenues and Government of Canada grants will combine to keep The Ubyssey on solid financial ground through the remainder FY 2022/23. Currently, wages account for 75 per cent of the projected budget, equipment purchases and office expenses 15 per cent, and conferences, travel and professional development the remaining 10 per cent. Adjustments to the budget will be made to compensate for shortages and monies will be allocated as appropriate while striving to balance the books.
As a non-profit entity, we are obliged to provide transparency to our membership on budgetary matters and will make available financial information to members who seek a more detailed breakdown of expenses. I can be reached at business@ubyssey.ca and would be more than happy to discuss the business side of The Ubyssey, on request, by any member of the UPS.
Sincerely,
Douglas Baird MB CD
UPS Business Manager