Automated Teller Machine In Goodes Hall

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Automated Teller MachineIn Goodes Hall

• November 19, 2006
• Prepared by
• Michael Jones, Director

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Objective of ATM

• Must determine the objective of an ATM in Goodes

• Revenue Generation
• Fit with long-term plan
• Easy form of revenue, but must be heavily watched
• Based on usage, can gross 4M -14M annually

• Convenience
• Ease of debit (closest ATM is JDUC or MC)
• Minimal work by ComSoc - self-running, revenues
  are added bonus

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ATM Programs

• Purchase ATM
• ATM Partial Placement
• ATM Placement

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ATM Programs Option 1

• Option 1 - Purchase ATM
• ComSoc purchases ATM (ATMs range from 3,995 to
  12,000)
• ComSoc supplies and loads cash (contracts to
  outside company i.e. Brinks), provides phone
  line and electrical outlet
• Guaranteed buy-back if the ATM does not make money

Notes -1.50 surcharge -4M-12M unit cost -Cash
replacement contractor - ?
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ATM Programs Option 2

• Option 2 - ATM Partial Placement (Retailer Cash)
• DirectCash owns the ATM
• ComSoc supplies and loads cash (outside contract
  required), phone line and electrical outlet
• DirectCash provides monthly processing and
  maintenance at its cost
• ComSoc earns a portion of the surcharge
• Based on negotiations traffic, average
  transaction amount, etc 

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ATM Programs Option 3

• Option 3 - ATM Placement (Complete)
• DirectCash owns the ATM and loads the cash
• ComSoc supplies phone line and electrical outlet
• DirectCash provides monthly processing and
  maintenance at its cost
• ComSoc earns a portion of the surcharge

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Objective Two Options

• Must determine the objective of an ATM in Goodes,
  as this will help us decide the option of choice

Revenue Generation
Option 1
Option 2
Option 3
Convenience
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Questions to Ask

• Who will manage the ATM? (option 12)
• Money supply?
• Contract with Bricks (tbd)?
• Maintenance?
• Usage logs?
• Who will fund the purchase of the ATM? (option 1)
• Core Fund, ComSoc, QSB, partnerships (e.g. Sodexo
  ComSoc)
• Where will profit be allocated?
• ComSoc budget, QSB

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Recommendation Option 3

• DirectCash owns ATM, supplies money and
  maintenance
• ComSoc receives portion of surcharge
• Rationale
• ComSoc not structured to manage process
• Responsibility owned by DirectCash guarantees
  zero complications
• Zero capital investment
• ComSoc still receives a portion of the surcharge
  between 0.50 to 1 pure profit

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Next Steps

• Building Usage Committee discussion/ approval
• QSB discussion/ approval
• Quote from Suppliers (location suggestions
  required)
• DirectCash
• Frisco Bay
• TD Canada Trust
• Choose program option
• Core Fund approval (if necessary)
• Determine ATM location in Goodes
• Purchase ATM program

Completion Before the Break