Sponsored by: Joseph Neguse Tri-Executive
Veronica Crespin Tri-Executive
Garrett Stanton Tri-Executive
Eugene Pearson Representative At Large
Ashley Moore Representative At Large
Authored by: Matthew Campagnoli UCSU Finance Director
Joseph Neguse Tri-Executive
Carlos Garcia UMC Director
In the summer of 2004 the UCSU Tri-Executives
initiated a financial study of UMC Food Services. UCSU Finance Director Matthew
Campagnoli carried out this study with the help of Internal Auditing and the
UMC Administration, as well as the UMC Food Services Financial Review
Committee. The purpose of the committee
was to evaluate and review the financial conditions of UMC Food Services and to
provide a greater scope of transparency to UCSU Executive and Legislative
branches. Upon the completion of the
financial review, the committee came to the conclusion that the financial
structure of UMC Food Services was in sound condition given the inherent
constraints placed upon their operation. Having come to this conclusion, the
committee also believed that the physical infrastructure of the Alfred Packer
Grill was in need of renovation.
In order to fund a renovation of this size,
UCSU must explore different revenue sources that would provide sufficient
funding for the project, for instance issuing a revenue bond in the future.
In 1986, the UMC issued a bond to renovate
UMC Food Services. After eleven years,
in 1997, this bond was reissued at a lower interest rate, and these principle
and interest payments of the 1997 series bond will be retired by the end of
this fiscal year (2004-2005).
Before a renovation of this size and scope is
initiated, a feasibility study, market analysis, and program plan must be completed.
These three segments of information will provide the first steps of
finalizing the initial outline for the renovation of UMC Food Services. Furthermore, these studies must be
outsourced and will require funding from the SOR account.
BILL
SUMMARY
This bill allocates $173,745.00 (including GA/IR) to the University Memorial Center to fund a feasibility study, market analysis, and program plan design for the renovation of UMC Food Services (including Sattellite operations). This bill provides matching funding to the support outlined in 62LCR#2 “UMC Food Service Expansion”.
BE IT ENACTED by the Legislative Council of the University of Colorado Student Union, THAT:
SECTION 1: An allocation of $173,745.00 will be made from the
SOR account to the University Memorial Center (UMC) for the following expenses:
·
Program
Plan: $114,000.00
·
Market
Analysis: $31,000.00
·
Program
Plan: $20,000.00
·
Sub
Total $165,000.00
·
Plus
GA/IR
$8,745.00
Total: $173,745.00
SECTION 2: The UMC
Board and UCSU Food Services Committee will come forward to Legislative Council
upon completion of these items to report on their findings and recommendations
for further action.
SECTION 3: The University Memorial Center Board and the UCSU Food Services Committee will utilize student involvement to the highest degree possible through internships, collaboration with academic departments, or through any and all mechanisms which can be employed to increase student participation and enrichment by this research process.
SECTION
4: The University of
Colorado Student Union requires that
the University Memorial Center Board and the University of Colorado Student
Union food service committee incorporate, as one of the criteria for
investigation, pursuing certification of the renovated area at the US Green
Building Council’s LEED Platinum rating with a minimum requisite of LEED Gold
pursuant to 61LCB#5 Green Building Standard.
SECTION 5: This resolution takes effect upon passage by
Legislative Council and upon obtaining the signatures of the Council President
and Tri-Executives.
2-10-05 Amended and Passed 9-3-4
2-17-05 Passed 12-1-1
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