Successful year for Peninsula club

Press, 15 July 1980, Page 20

Successful year for Peninsula club

By

W. R. CARSTON

' Record turnovers on-H course and off-course and'' sponsorship for all races I, contributed to a successful;, financial year for the Banksil Peninsula Racing Club. Theil ciub’s’accounts for the year, - to May 31 show a profit of ; ! I $4963. The on-course and off-p course turnovers had been! 5123.754 and $239,278 re-i spectively. the club’s, presi-j dent, Mr A. G. J. Gray, told 1 members at their annual! t meeting last evening. I t Totalisator commission | and the club’s share of! t Totalisator Agency Board; profits for the previous sea- 1 ‘ son had been the club’s;

main income. The respective : amounts had been $9408 and, $13,824 compared with $8916\ and $21,445 in 1979. i Other sources of income ■ i(with the previous year’s ■figures in parenthesis) had ,been acceptance fees of; i 53096 ($3241), interest on in-: ! vestments of $2240 ($963),! ■gate receipts of $965 ($900),; ! and members’ subscriptions iof $BB2 ($954). I Stakes had been the club’s! imain item of expenditure:, '520,600 had been distributed' ’compared with $18,450 in 11979. This year’s figure had! included $6965 from the’ I Racing Authority’s stakes-! ’subsidy fund and $3400 from! I sponsorship compared with ' 1 *55875 and $2150 respectively in the previous year.

Except for rent paid to! .Motukarara Racecourse Ltd,; ’which had been increased by | $862 to S4OBO. most expenses had been down on the previous year’s figures. Officials and gatemen's i wages had dropped by 5334 !to 81930, general race meetling expenses had dropped ifrom $4104 to $3640, and ad-i ’vertising, printing, and sta-! Itionery costs had been down !$713 to $2877. ! After adding the profit for ’the year and $l5OO drawn from the Racing Authority’s lamenities-fund distribution ’and deducting capital exjpenditure of $2lB the club's; 'capital account at balance! date had amounted toj $42,447.