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THREAD re @LawSocietyLSO budget
This thread proposes a way for the LSO to improve its financial position by at least $6,000,000, resulting in at least a $120 (> 5%) fee cut. It assumes that this is the most up to date budget ( https://lawsocietyontario.azureedge.net/media/lso/media/about/convocation/2019/convocation-october-2019-convocation-auditandfinancecommitteereport.pdf). https://twitter.com/michaelsfirm/status/1304787740811296770
This thread proposes a way for the LSO to improve its financial position by at least $6,000,000, resulting in at least a $120 (> 5%) fee cut. It assumes that this is the most up to date budget ( https://lawsocietyontario.azureedge.net/media/lso/media/about/convocation/2019/convocation-october-2019-convocation-auditandfinancecommitteereport.pdf). https://twitter.com/michaelsfirm/status/1304787740811296770
(1) Bencher Salaries - $2,500,000
In 2020, the LSO will spend $2,903,800 on salaries for benchers. A bencher position is a high honour in the profession, so there would be excess demand for these positions even if no salary was paid. Thus, non-lay benchers should not be paid.
In 2020, the LSO will spend $2,903,800 on salaries for benchers. A bencher position is a high honour in the profession, so there would be excess demand for these positions even if no salary was paid. Thus, non-lay benchers should not be paid.
(2) CPD - $3,000,000
In 2020, the LSO will make a $3,944,200 profit from running CPD events. Double the size of the program and the number of events the LSO runs. Not only would this be better financially, but also it would allow the LSO to produce more D&I CPD programming.
In 2020, the LSO will make a $3,944,200 profit from running CPD events. Double the size of the program and the number of events the LSO runs. Not only would this be better financially, but also it would allow the LSO to produce more D&I CPD programming.
(3) Catering & Events - $500,000
In 2020, the LSO will lose $546,100 running events. It should stop running events. I have enjoyed dining in Osgoode Hall, but that's not the LSO's purpose. And lest anyone worry, this proposal does not affect the $7,595,200 spent on Facilities.
In 2020, the LSO will lose $546,100 running events. It should stop running events. I have enjoyed dining in Osgoode Hall, but that's not the LSO's purpose. And lest anyone worry, this proposal does not affect the $7,595,200 spent on Facilities.
(4) External Relations & Communications
In 2020, the LSO will spend $3,445,500 on External Relations & Communications. Most of that is probably justified and important, but we all remember the TTC ads. This department's expenses should be reviewed more closely.
In 2020, the LSO will spend $3,445,500 on External Relations & Communications. Most of that is probably justified and important, but we all remember the TTC ads. This department's expenses should be reviewed more closely.
(5) Finances
In 2020, the LSO will spend $601,400 on the Office of the Treasurer and $3,025,200 on Finance. It is unclear how these differ or why both are necessary. Consider finding ways to make financial administration more efficient.
In 2020, the LSO will spend $601,400 on the Office of the Treasurer and $3,025,200 on Finance. It is unclear how these differ or why both are necessary. Consider finding ways to make financial administration more efficient.
