The Union spends some $850,000 each year to obtain competent personnel to operate its vast program. Moreover, it spends at least another $500 thousand for goods and services in the Lawrence community and immediate area.
The Union retains the very small amount of income remaining, if any, after all outgo bills are paid, for future expansion of facilities and purchase of new equipment.
Funds for recently remodeling the cafeteria came mostly from self-generated working capital. The Hawk's Nest area has been redecorated and improved to provide better service in a pleasant and attractive atmosphere.
The bookstore operation provided enough funds above expenses last year to return $79,000 to you as patronage refunds. In addition, some $25,000 was paid to the Disadvantaged Student Loan Program from bookstore funds.
One of our foremost operations, the Student Union Activities Program, provided entertainment and educational services last year with a budget of about $210,000. The Union provides facilities, staff advisors to assist the students leading the program and a nominal allocation of money above actual income.
Only $6.50 of the $15 Union fee full-time students pay per semester ($5 per summer session) came to us to be used in our everyday operations last year. The remaining $8.50 was earmarked for debt service, major renovation or working capital funds. Allocation of the entire $15 looks like this:
$2.00—Allocated by the Board of Regents to be used for major repairs and maintenance.
2. 50—Retained to use only for debt service for the 1960 Student Union Annex and/or extraordinary repairs, replacements or renovations on the Union Annex.
3. 00—Retained for financing 1968 Union addition.
1. 00—Provided directly to the Union for creation of a special working capital reserve to be used exclusively for the purchase of new equipment.
*6.50—Provided directly to the Union for operations, utilities and minor repairs. $15.00
- A significant item of expense to the Kansas Union is insurance premium cost. Insurance on the plant and contents is necessary—especially on that two million dollars of bonded indebtedness. Insurance carriers have based premium rates on mathematical calculations of the physical hazards based on past experience of over 100 years. The current "uneasy climate" relative to insurance on public buildings, coupled with the fact that on April 20, 1970, the Kansas Union suffered a fire loss in excess of one million dollars has resulted in an annual insurance premium cost over $100,000.00 This item of new expense must be met at both the operational and student fee level. Currently, Union management committees are exploring all possible solutions.
We hope this brief summarization has shown you a little of the scope of Kansas Union operations and that you will continue to keep us informed as to how we can better serve you. Let us know how we can make your living room at K.U. more enjoyable.
Respectfully submitted,
The Kansas Union Staff
The Kansas Union Staff
University of Kansas