Forbury Park shows loss

Press, 20 July 1984, Page 25

Forbury Park shows loss

Special correspondent Dunedin The Forbury Park Trotting Club has shown a loss for the year of $89,042 after allowing $32,810 for depreciation. This compares with losses of $34,362 ($28,701 depreciation) last year and $93,937 ($28,767) in 1982. General income fell $51,850 from $230,280 and profit on racing dropped $21,553 to $140,403. Expenditure on racing rose by $25,266 to $455,731, the major increases being $15,891 in stakes to $318,413. Advertising costs rose by $6342 to $20,353, hospitality $3211 to $17,282, lighting $2815 to $15,919. Fund raising at $14,162 contributed $24,023 less than last year to general income. Rent received dropped by $BO3l to $11,671, due mainly to the Otago Greyhound Racing Club not conducting totalisator meetings. Mr Albie Crawford, the retiring president of the Forbury Park club, said two on-course licences had been granted for greyhound racing at Forbury Park in the 1984-85 season. Overhead expenses dropped by $1279 to $234,662. Interest was $4958 higher at $24,663, accident compensation cost $4055 less at $969, repairs and maintenance dropped $2303 to $25,292 and rates rose

$llB3 to $19,232. Mr Crawford said the decline in on-course turnover was a matter for concern. Course betting at the club’s 10 meetings dropped by $30,060 to $2,298,918, a decrease of 1.31 per cent. The national average is about nil. He said weather was a very important factor. Turnovers were showing a slight increase until the last night, which was wet and cold. Off-course betting was up $1,364,115 or 21.95 per cent. This will be reflected in the share of T.A.B. profits paid out in November.