April 1st: Celebration & Members Meetings

Glen Burns Members Updates

We have two important members meetings and a celebration for interested members to attend on Saturday April 1st at our Studio Complex in Bigge Street Liverpool.

11am Ethnic Presenters Meeting

We are planning an important meeting to discuss the future of the Ethnic Grant following the recent changes by the CBF.

Discussion will focus on the planned changes and seeking input from Program Makers.

12pm Celebration – Pizza Party (see below)

Pizza, drinks and nibbles to celebrate our ownership of 201/161 Bigge Street.

1:00pm OB Meeting

2GLF will be attending two key Outside Broadcast events within the community in April. We will use this time to plan our approach for both events.
Assyrian New Year (Sunday April 2nd) and the Fairfield Youth Festival, Bring It On (Sunday April 9th).

Both events will be held at Fairfield Showground. If you are keen to volunteer at either event, please come along to the meeting or let us know if you are available.

A note from the Treasurer….

We have just passed a significant milestone in the history of the Co-operative. Last month we made our final regular mortgage payment for our studio complex at 201/161 Bigge Street Liverpool.

In October 2011, the Members decided borrowing the funds to purchase the studio complex was the best option available for our relocation. Many of us have fond memories of the challenges of finding, designing, building and moving a radio station in less than a year.

The project cost more than half a million dollars. We successfully applied for a loan of $240,000 which made it possible to purchase our part of 161 Bigge Street. We had forecast we would spend $109,000 in Interest costs and pay the loan off by 2022 gaining full ownership of our premises.

Less than six years later we have achieved that milestone early thanks to the hard work and commitment of everyone at the station. The total Interest cost spent by the co-operative was just less than $54,000 – saving valuable funds for the operation of our service.

We now have the security of our studio complex into the foreseeable future without the commitments and limitations of a lease arrangement. Early repayment will give the station additional financial security for the future.

The board has decided to retain for the moment the ability to redraw against the loan if required. At this stage, we don’t expect that will be necessary but want to ensure we have it available until we can restore cash reserves to a suitable level.

To celebrate the start of the new financial year (no joke, it is always April 1st) debt free – the board has decided to celebrate this milestone with a lunchtime pizza party at our home that is now truly our very own.