Union Loss Of £14,250
WELLINGTON. The New Zealand Rugby Union expects to make a loss of £14,250 this season, according to the budget presented to the council yesterday. The budget showed an estimated expenditure of £42,690 and an income of £28,170. The secretary (Mr G. H. Geddes) explained that most of the expected deficit of £14,520 would be taken up by the Jubilee celebrations in August—a figure of £11,640 had been earmarked for the celebration. This year’s budget was in strong contrast to last year’s figures, which showed a profit of £71,896. The gross receipts from the British Lions tour was £213,531 and the net profit £83,520. The balance sheet showed assets of £437,552—made up mainly of loans, £270,149, building fund, £47,548, and bank deposits, £95,223. Mr T. C. Morrison explained that the healthy cash position £131,000 could change quickly. Loahs had been promised to unions and if these were taken, it would amount to £112,500.
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Press, Volume CVI, Issue 31343, 13 April 1967, Page 15
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156Union Loss Of £14,250 Press, Volume CVI, Issue 31343, 13 April 1967, Page 15
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