Two Clubs Make A Profit, One Loses

Press, Volume CVII, Issue 31450, 17 August 1967, Page 4

Two Clubs Make A Profit, One Loses

Both the Timaru and Geraldine Trotting Clubs showed a profit on operations last year but the Marlborough Trotting Club did not fare as welL Although the latter club’s income from the annual race meeting exceeded expenditure by $4lO the over-all loss on the year’s activities—excluding farming—amounted to $1123. But the Marlborough, club’s financial position is sound. The balance of the accumulated funds, after deducting the loss, is shown in the balance sheet at $29,384. This does not include the club’s share of the $924 profit from the joint farming operations with the Marlborough Racing Club. A profit of $1229 boosted the Timaru club’s accumulated funds to $28,866. The Geraldine profit of $778 brought the balance of the club’s capital account to $20,605. The total stakes distributsd by the three clubs during the year amounted to $47,760. Of that total, Timaru, which has three days of racing, contributed $30,200. Marlborough gave $10,360 for Its two-day annual meeting and Geraldine, which has one day’s racing paid out £7200. The stakes distributed at Timaru last year were a record for the club. They were up $2900 on the previous year and were $6BOO higher than in 1965. The combined on and off-course turnover of $727,252 was also a record for the club.

Items of expenditure besides stakes were: totalisator operation costs $6912, wages, salaries and audit fee $5443, rent $4906, general race-day expenses $3700, Totalisator income amounted to $74,792. Nominations and acceptances brought in $7842, gate reeclpts were $2866, interest of investments $1931, sale of race books $1915 and members’ subscriptions amounted to $1536. Totalisator revenue for the Marlborough club amounted to $9760. The club also received $5llO from the Totalisator Agency Board. Other items of income were: nominations, acceptances and stabling $2788, subscriptions and interest $1602, and gate takings $1249. The unrecoverable race meeting expenses, outside of stakes, amounted to 93686. General expenses during the year, ineluding salaries and wages, amounted to $lBB4 and race-day rental, payment of interest and the Trotting Conference levy took another $2548. , The Geraldine club’s income from the totalisator was $11,036. Nominations and acceptances brought in $1751, Interest on investments $ll7B, members’ subscriptions $5BO and race book and gate receipts were $687. Besides stakes, the major items of expenditure were: racecourse rental $lB6l, totalisator commission $l3OB, salaries and wages $1204, entertainment $6BO, and advertising $620.