Fergusson Trust in red

Press, 15 July 1980, Page 6

Fergusson Trust in red

The Canterbury branch of the Laura Fergusson Trust for Disabled Persons had a $7222 deficit at the end of the last financial year. The retiring chairman of the trust (Mr W. M. Cleland) told the annual meeting last evening, that after its first full year the trust had been moderately successful financially. . The greatest ■ success was in providing the facilities for the disabled at the home in Ham Road. The trust would have to continue raising money to cover costs. “In the present

and expected economic climate we may find it more difficult to obtain the financial support we have had in the ; past,” he said. Fees paid by the 24 residents of the home were $21,485 short of direct running costs. As most residents ! received only Social Welfare benefits the trust could not • raise the fees unless the bene- ; fits increased, said Mr Cle- ; land. Fees from the residents 1 had brought in $56,445, said , the trust’s secretary-manager

(Mr J. G. Laurenson). Total income, which also included fund-raising, donations and pledges, was $102,312, compared with a total expenditure of $109,534. The home for the disabled was open debt-free but this had meant that the trust was left with no working capital, said Mr Laurenson. No money was available for additional facilities which would be needed. The trust would continue fund-raising to cover' the cost of the additions. | The meeting elected Mr K. G. Lee as chairman of the trust.