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