Riccarton T.C’s successful year

Press, 22 August 1979, Page 23

Riccarton T.C’s successful year

By

W. R. CARSTON

The Riccarton Turf Club’s reserves increased tenfold in the last financial year. At balance date in March 31. 1978, the club’s accumulated funds amounted to $613. At the corresponding date this year that fund had reached $6162. The club’s accounts show an over-all profit of $5549 on the year’s activities and $2403 of that total was profit from the club’s inaugural on-course only totalisator meeting.

Although the outcome of the race meeting was quite pleasing, the net profit would have been healthier had the Racing Conference not set such exorbitant levies and rentals, which accounted for a reduction of $3403 in profit, says the president (Mr Ross Simpson) in his report to be presented to members at the annual meeting next Monday evening. Outside of stakes at $9OOO, the Racing Conference levy and racecourse' rent, the only other major item of expenditure in relation to the

race meeting was race-day expenses which amounted to $3277. Revenue from the totalisator brought in $12,009. The club received $2280 in acceptance fees, $2lOO in sponsorships and $1905 profit from an art union run in conjunction with the race meeting. The conducting of race trials also proved profitable. Income from this source amounted to $B3Bl and the outgoings was $4244. The Canterbury-Westland branch of the Racing Owners and Trainers’ Associaton showed a small profit on its activities last year. Their accounts, which along with the report of the president (Mr V. M. Jack), will be presented at the annual meeting next Monday evening, show that income for the year exceeded expenditure by S4J. The association’s accumulated funds at balance date, July 31, amounted to $4306. They also administer the Apprentice Encouragement Fund which stands at $4523 and the J. L. Barr Memorial Fund which has $llO4.