The EMU may not earn as much income this year as expected, but it could still end the year without a deficit, according to EMU Business Manager Jean Sun and Director Dusty Miller.
The building had two significant heating system failures during winter break and is being heated by one overworked motor. The cost of replacing all three heating components is estimated at $50,000, a sum which will come out of the building reserve fund, according to Sun.
“We’re looking to get through the cold part of winter with a Band-Aided motor,” Miller told the EMU Board last week.
At the end of November the EMU had earned 42 percent of its expected income for the year, which Miller called “acceptable” in his director’s report last week.
“I believe the EMU is reaching the limit of its ability to generate increased earned income,” Miller wrote. “If we maintain our vigilance on expenditures we should end the year without deficit.”
For the same time period last year, roughly 45 percent of expected income had been earned.
“The EMU is experiencing a minor decline in earned revenue,” Sun said. “At this point we may not meet our double-digit increase” that was set at the beginning of the year.
Still, the news isn’t all bad. It had been estimated that the cost of maintaining current services would require a 7 percent increase over last year’s budget, but prudent spending and fewer debts than expected have brought that increase down to 5.85 percent.
Loan repayments totaling $59,000 had been budgeted for 2008-09 year. But the EMU will have to make only two payments totaling $9,000.
The EMU Board will also review six proposed projects to be paid for by Oregon’s Student Building Fee, paid by all students in the Oregon University System. Currently, the University expects to receive $4.1 million, and other buildings will submit proposals as well.
The six EMU proposals are a complete renovation of the EMU; a renovation of the Multicultural Center and the computer lab; ASUO suite expansion; KWVA studio/production renovations; and changes to the Craft Center and the Outdoor Program barn.
Miller said there will soon be an announcement regarding the fate of food vendors Holy Cow and Subway, which are seeking to renew their contracts for another five years.
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