UCD students union makes €1.1m sales in first year
THE country's largest students union has dipped its toes into the corporate world by creating a company with sales of more than €1m in its first year.
University College Dublin's students union recorded sales of €1.11m in the 12 months to the end of last June, according to the first set of annual accounts lodged by UCD Students' Union Ltd.
The campus firm recorded a surplus of €81,738 at the end of the year, despite a loss-making UCD Students' Union Ball held in Dublin's O2. It was the first time that the event was held off-campus. Headlined by DJ Chuckie, the event cost the student union body €162,519 to stage while generating income of €125,446.
The accounts show that the firm's income was made up of €725,000 in capitation fees from the approximate 24,000 students who attend UCD; UCD service income of €100,001; the students' ball income of €125,446; 'Observer' advertising income of €26,558; other income of €110,174 and contribution from shops of €25,000.
One of the firm's biggest outlays last year was the €134,344 the union paid in affiliation fees to the umbrella union for students in Ireland, the Union of Students of Ireland (USI).
The largest cost of UCDSUL was the €192,657 paid out in wages and salaries last year.