Buildings Agreement

Agreement between EUSA and EUTC

AGREEMENT between EDINBURGH UNIVERSITY STUDENTS' ASSOCIATION (hereinafter referred to as "the Association" which expression shall include all personsderiving title from them where the context so requires or admits) OF THE FIRST PART

and

EDINBURGH UNIVERSITY THEATRE COMPANY (hereinafter referred to as "the Theatre Company" which expression shall include all persons deriving title form them where the context so requires or admits) OF THE SECOND PART

CONSIDERING that the Association has recognised the Theatre Company as a Society of Edinburgh University;

FURTHER CONSIDERING that the Theatre Company occupies Association premises in the Bedlam Theatre (formerly know as the Old Chaplaincy Centre) on Forrest Road, Edinburgh, in terms of an Occupany Agreement between the Association and the Theatre Company;

FURTHER CONSIDERING that the Association and the Theatre Company have agreed terms whereby the finances of the Theatre company shall be integrated wit those of the Association in order to provide greater support for the Theatre Company activities from the Association, it is now therefore agreed as follows:

FIRST

Theatre Company Status

(i) The Theatre Company shall continue to be a recognised Society with respect to annual registration with Societies Centre, and answerable to Societies Council Laws and Bye-Laws.

(ii) Decisions concerning productions, administration and use of the Bedlam Theatre and other internal policy matters shall remain the perogative of the Theatre Company.

(iii) The Theatre Company shall enjoy a special relationship with the Association as regards financial and staffing support, as detailed hereinafter.

SECOND

Financial Arrangements

(i) The Assets and Liabilities of the Theatre Company will be integrated with those of the Association as at 1st August 1987.

(ii) The Association will be responsible for the preparation and audit of the Theatre Company's annual accounts, and the preparation of monthly interim accounts for the purposes of reporting to the Theatre Company

(iii) The financial year of the Theatre Company will continue to run concurrently with that of the Association, ending on 31st July.

(iv) Budget preparation will take place in September or early October on a consultative basis between the President and Business Manager of the Theatre Company and the financial fficers of the Association, The proposed budget will then be submitted to the Theatre Company Exectutive Committee for approval, and the approved budget will then be transmitted to the Finance Committee of the Association as part of the Association's overall budget for financial approval.

(v) Any surplus on the budgeted net expenses of the Theatre Company will be added to the accumulated funds of the Theatre Company account within the Association's account, and any deficits will be deducted from the Theatre Company's accumulated funds.