Following a series of significant decisions and discussions with the University and using your student feedback about wanting the Guild to change, we have reached a point of major development for our organisation. We believe this will have positive effects on the impact we can make on your student experience for years to come.
We are delighted to announce that Sunday Blake (Guild President) and Liv Harvey (Vice President Activities) led negotiations with the University for an additional estimated £400K each year to our block grant. This is the largest increase we have seen and allows us to become one of the best funded students’ unions in the country through block grant.
We have been underfunded for many years which has had an impact on our offering and resources; this increase allows us to continue our activities and make some improvements where needed. In order to secure the additional grant and ultimately the long-term financial security of the Students’ Guild, the Board of Trustees of the Guild have taken the difficult decision to transfer our commercial operations to the University. The block grant increase significantly exceeds our commercial operation profits. In addition, the Officers raised concerns around historic debt, including our large VAT bill, and the University have agreed to provide a one-off payment to clear this.
“We do not underestimate the weight of this decision and appreciate it will be disappointing news to some; however, the agreement we have made for our long-term financial security with the University, are in the best interests of you, our students. We are excited to work with students to use the additional funding from the University to develop our student services and opportunities, including student representation, advocacy, support and advice, student activities and societies in the future.” Sunday Blake, Guild President
The transfer of our commercial operations is still ongoing, and we are committed to being transparent, therefore we will continue to update you as the next steps and process are finalised. For the time being, our outlets will continue to be run by the Students’ Guild and will open for business as usual.
We are working with our commercial staff to support them through what is an unsettling time, and we are committed to ensuring that they can play a significant role in the transfer process. We want to thank them for their patience and continuing hard work during a challenging period.
We’d finally like to thank the University for their collaboration on this and are grateful for the opportunity to become a significantly better funded and successful Students’ Union for our amazing Exeter community.
If you have any questions about any of the information here, please contact us at firstname.lastname@example.org or visit our FAQs page for more detail.