Annual Report
To the Owners of the Bookstore
‘Th* hfgh«t textbook discount among ths largost 72 coitegs
bookstoms In ttw United States.
All students, faculty and classified staff are
owners of the University Bookstore. This annual
report is the first of a series to report how your
Bookstore is serving you — its owners.
As a nonprofit corporation, any financial success
the Bookstore realizes is given back to its
owners/membership in the form of lower prices,
improved merchandise selection and better
services.
2.8% Net earnings
The bookstore's net earnings are returned to you
— the membership. Last year the earnings enabled
us to save you money with: regularly discounted
prices, maintaining the 11% textbook discount*,
improved selection and service, two 20% storewide
discounts and other special sales
Net earnings are the smallest percentage of the
total revenue which means the prices you pay are
primarily for the cost of merchandise and operating
expenses
Statement of Disposition of Revenue
For Year ending June 30,1982
Sources of Revenue
Merchandise Sales .*5,800,754
Interest Income . *31,716
Other Income . *21,706
Total Revenues .*5,854il76
How Revenue was Spent
Cost of merchandise sold .*4,430,895
Salaries & Wages . *785,333
Depreciation . *38,284
Other operating expenses. *426,786
Interest expense . *9 111
TOTAL COSTS & EXPENSES . . ‘5,690 409
Net Earnings . ‘163,767
13.5% Salaries and Wages
The Bookstore employs approximately 80 people half of whom are students
working part-time
7.3% Other operating expenses
Like everyone else the Bookstore has bills to pay: rent, utilities, telephone,
postage and freight bills, mortgage, as well as repair and maintenance costs!
Losses from shoplifting are also an operating cost.
76.4% Cost of merchandise
The largest percentage of the Bookstore's average dollar goes to the cost
of its merchandise A recent price survey showed the Bookstore s general
prices compared favorably with other stores despite the fact it buys in smaller
vo ume. The Bookstore does however buy school paper in volume with 55
other college bookstores and in this way you get the highest quality paper at
the lowest possible price.
We make sure the Bookstore works in your best interests
, f LTe!ent yOU and y°ur needs at the Bookstore. The Board of Directors
e ected by the members, consists of eight students, two faculty and a
classified staff member We make sure the Bookstore is serving your best
The Board is the policy-making body of the Bookstore, and is responsible
for evaluatmg the Bookstore's financial, merchandising and management
aCTIVITieS.
The Board's long-term goals are: 1) To provide the services and
merchandise you need during your academic or working years at the
university 2) To provide the best product for the price 3) Give the hiqhest
priority to academic supplies at the lowest cost
ThlB<Lard alS° makes decisions about current and future operations This
year the Board has been working to improve the efficiency of the Bookstore
wi a new sportswear department, new computer, new cash registers, and
the restockmg fee Other ongoing projects include: developing an investment
policy, a long-range fixture plan, a standardized manager evaluation, store
space restrictions, and developing better membership relations
Membership relations start with the understanding that you are part of the
Bookstore — you are its owners The Bookstore is non-profit and the
foundation of the store philosophy is to serve its owners — you
r
The Board of Directors
from left to right
ocon u tssig. President, senior, management
Bryan Van Meter. Vice President, senior marketing
Andy Storment, Treasurer, funior. accounting
Dale Penegor, Secretary, junior, political science
Fred Wilhelm. Classified staff
David Gold, graduate student, law
Mtirtel Jackson, faculty
Willis Winter, faculty
Maria Neese, junior, finance marketing
Peter Loop, graduate student, decision science
Michael Larson, student at large, law
Jim Williams, Ganaral Manager, works on one of
the seven terminals of the new microcomputer The
computer provides information quickly and enables
management to make decisions to benefit you in
prices, merchandise and efficiency The in-store
computer cuts cost in paperwork and assists in
inventory control, textbook ordering, budgeting and
managing cash flow The time and money saved by
the computer is returned to the membership The
computer will pay for itself in about two and a half
years, meanwhile It'll help the Bookstore
help you
Judl Johnson, Office and Personnel
Manager, trains recently hired students on the
new cash registers The cash registers,
upstairs, automatically compute the 11 %
discount off the textbook list price and
provide you with an itemized receipt
L
The service gets better and better.
Every year your Bookstore gets better and more
efficient at serving your needs 1981-82 targets for
improvement were: streamlining textbook
operations, computerizing, and carrying more used
texts Many of the changes come from your
suggestions Keep the Bookstore working for you
and write your suggestions to the Sounding Board
locatea on the stairs to the Book Dept
Bob Spencer, Assistant Manager, has recently
remodeled the University Sportswear department to
make more room and shopping more convenient
The enhanced selection of t-shirts and other
apparel are now on new modern face-forward
displays to make your shopping easier
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Otto Henrickton, Textbook Manager,
explains that the main purpose of the 50*
restocking fee on returned texts is having
more books on the shelf for students needina
the textbook
Thom Chambliss, Tradebook Manager,
helps a customer locate a book from the
40,000 plus different titles in one of the 82
categories If you can t find a book you're
looking for, you can special order the book at
no extra cost, or place an out-of-print book
search on it.