$23,571 loss for Canterbury Park

Press, 18 July 1979, Page 24

$23,571 loss for Canterbury Park

By

W. R. CARSTON

In spite of record on-course and off-course urnovers for the season the Canterbury Park Trotting Club incurred a loss of $23,571 for the year to June 12, according to iccounts to be presented it the annual meeting this wening. Revenue from on-course letting and the club’s •hare of distributed profits rom the Totalisator Agency Board for the 1977-78 season rose bv $33,439 to $369,721. Of

that total $155,028 was provided by the T.A.B. Acceptances brought in $23,488, $2891 more than in the previous year, but both members’ subscriptions, entrance fees, and gate receipts were down. The respective figures this year were $27,734 and $26,793 compared with $30,590 and $27,206 in 1978. The only other main items of income were stakes subsidies of $18,650 and interest of $19,747. During the season the club distributed $212,925 in stakes compared with $193,875 in the previous year. Totalisator expenses

rose from $57,924 to $69,906. Race-meeting expenses rose by $10,568 to $78,280 and Trotting Conference levies increased by $1639 to $17,791. At $15,901 advertising. printing, and stationery costs rose by only $895 but administration expenses were up $7086 to $36,973. Much of this increase was for salaries, which rose from $22,107 in 1978 to $29,658. After deducting the loss for the year and $lOOO for the staff's supplementary' superannuation fund, the club's accumlated funds at balance date amounted to $221,135.