Speedway’s record gate

Press, Volume CXI, Issue 32708, 10 September 1971, Page 22

Speedway’s record gate

Speedway’s claim to be one of New Zealand’s most popular spectator sports is upheld by figures in the annual accounts of the Christchurch Speedway Association for the year ended May3l. More than 70,000 persons paid $42,202 to pass through the turnstiles at Templeton Stadium last season, an increase of $3890 on the previous season and a new record. The total income amounted to $46,421 and included

substantial returns from raffles, subscriptions and entry fees. However, most of the money was ploughed back into the sport and a modest profit, on the year’s working of $6082 was recorded. Expenses included payment of $7BBl fa prize money, $11,669 for attractions at meetings, $2llB for rent and rates, $2582 for insurance, $5196 for advertising, $525 to the St John Ambulance, $553 for the hire of a sound system, $721 for gate keeping. $864 for repairs and maintenance, and

$615 for Auto Cycle Union supervision fees. Also eating into the profit was a nook depreciation of assets of $2384. The balance sheet shows total fixed assets of $21,030, including the track and lighting, with a book value of $10,502. The total net assets amount to $26,018 compared with $19,936 at the same period last year. This is in spite of substantial amounts being written off in depreciation. The track and lighting, for example, cost $29,244 and has since depreciated $18,742.