By: Piper Howell
Following a deficit of approximately $14,000, The Gait is projecting a $200 surplus for the current 2026-2027 academic year, according to financial documents from a recent Students’ Representative Council (SRC) special board meeting.
This year’s budget projects an increase of nearly $34,000 in revenue to $266,000 from the $232,194 generated in 2025-2026. With expenses expected to reach $265,800, The Gait is projected to finish this academic year just above break-even.
Photo courtesy of Anthony Ouellet
Last year, The Gait recorded $245,848 in expenses with $232,194 in revenue, resulting in a net loss of approximately $13,654—the current budget forecasts a different outcome.
The estimated revenue improvement comes with a projected increase in expenses. Costs of goods sold are expected to increase from $75,482 to $80,000, while salaries are budgeted to rise from $111,899 to approximately $120,000 this year.
The budget also forecasts $16,000 in amortization of tangible capital assets, compared with $9,076 in 2025-2026. Amortization accounts for the cost of assets over time, rather than representing an equivalent cash expense during the year. For example, a $10,000 sound system that is expected to last five years could be recorded as a $2,000 amortization expense each year, even if the venue paid the full $10,000 upfront.
Although the projected revenue is roughly 14.6 per cent higher than last year’s actual revenue, the gap between projected revenue and expenses leaves little room for unexpected costs.
The figures raise questions about how The Gait expects to achieve the projected revenue and manage expenses throughout the year. Although they plan to increase prices, it remains unknown if that will be enough to meet their financial target. The projected budget does not guarantee The Gait’s financial position, and many factors are included in that uncertainty. More specifically, if the revenue does fall short of expectations, or expenses do exceed the budget, the financial outcome will be affected.
Since The Gait serves as a social space for Bishops, its financial performance is relevant to the wider campus community. Its ability to cover operating costs while maintaining its role on campus will be important as the SRC works towards the budget’s projected financial targets.
Questions remain about what specifically is driving the projected increase in revenue, and whether the predictions account for changes in operating expenses. The Campus contacted the SRC Finance Committee for comment on the projected budget but had not received a response by the time of writing.
Without further clarification from the SRC, it remains unclear what specific changes will contribute to the projected improvement, or how the SRC will assess its financial targets. Despite efforts from previous years to get The Gait back on track, the SRC’s projected surplus raises questions of whether the 2026-2027 academic year will finally mark a turning point in its financial stability.
