The Ressonance team under the leadership of Mr. Oyegunle Paul has released the second financial report of the Hall during their tenure, through the office of the treasurer, Mr. Ilemobayo Tayo.
The financial report spans between March 28/03/2017 to August 01/08/2017 and as a general rule and custom the financial report gave the account of both the income and expenditure within the period stated.
The Financial report shows that the substantial part of the income of the hall came in early beginning of the session due to the hall dues paid by the members of the hall. These dues were broken down into the Students basic dues, orientation fees and the Students who paid for shirt.
Apart from the Students dues, income also came through the Rent paid by Kounty Kitchen and this was paid to cover 10 months with half payment in the 5th month. The income as stated by the financial report was also replenished through donations from Imocheezy, Uchemodo and elder Ohiewerie. And finally part of the income was also received from the sale of forms for the Premius league introduced by the Sport minister Mr. Lawani. The grand total income is therefore N1,565,075.
However, on the other hand, the Expenditure within the period took so much of the four (4) pages financial report. The expenditure of the hall took a kick off from the office of the Interior minister and these includes the expenditure for the return of soft drink crates for fresher welcome, the subscription for the TV room and fuel expenses.
There are also some expenses made from the office of the Chairman, the Vice-Chairman, the General Secretary and the Treasurer. Also there is category of other expenses that involves the refreshment for both the Excos and stakeholders’ meetings. The hall also expended some money into the support of the S.U Aspirants who are members of the hall.
A substantial was also expended for the anticipated package for the redefinition tenure and this includes shirts, stockings and books. And there was also a part payment of the Mellanby Hall Press Organization allocation. All these expenses with others not mentioned cumulated to the sum of N 1,181,250.
The financial report was concluded by the subtraction of the grand total income from the grand total expenditure and the result is N 383, 825 which was further split into N 364,688 as the cash at bank and N 19,137 as the cash at hand. So therefore, the financial report simply says Kenneth Mellanby hall has a total of N 383,825 only.