Profit of $2347 for Amberley

Press, Volume CXIV, Issue 33653, 1 October 1974, Page 10

Profit of $2347 for Amberley

A profit of $2347 on the year's ! workings, against a loss of 5592 the previous year, is shown in the accounts of the Amberley Racing Club, which held the final race meeting on its home course in May. Members were told at the annua] meeting last evening that although totalisator revenue had 'dropped by 86964 on the previous year when the club had raced at Ricearton this had been largely offset by a decrease of $4252 in the race day expenses and an increase of 51260 in the T.A.B. pay-out. In his report, the president (Mr W. R. A. Parsons) said that the sale of the club’s Amberley property was satisfactory and the club had since purchased a one-sixth share in the Rangiora Racecourse after favourable negotiations with the North Canterbury Racing Club and the Rangiora Trotting Club. The negotiations included the sale of two wooden grandstands and various other buildings and chattels to the Rangiora-based clubs. Totalisator revenue for the year amounted to $16,976. compared with $23,940 in 1973, but the club’s share of the T.A.B. profits rose from $5085 to $6364. Nominations and acceptances were down by $292 to $1365, but members’ subscriptions rose from $586 to $654. Tlie club distributed stakes and trophies amounting to $10,593. This included $3300 In stakes subsidies from the N.Z. Racing Authority. The previous year the club had provided $7863 in stakes. Race meeting expenses dropped from $6617 to $2364, but advertising, printing and stationery costs were up $309 to $1955. The club paid $13,132 in Government taxes, compared with $17,493 the previous year. At balance date, the club’s accumulated funds, including the profit for the year, amounted to $34,846.