SMALL PROFIT

Evening Post, Volume CXVII, Issue 49, 27 February 1934, Page 11

SMALL PROFIT

FOOTBALL FINANCE

RUGBY ACCOUNTS

A; small profit ,of £3 8s is shown in the -Wellington Rugby Union's income and expenditure account for the year ended. January ol,' 1931. Income amounted to £7464 16s Id, that from "gates" being: ' North-South match (Wellington's share), £476 10s l : d; cup matches, £3200 7s sd; special matches, £488 12s: 6d; Petone, Hutt, Newtown Park, and miscellaneous, £966 13s 8d; season tickets, £135 Is 9d. On. the expenditure side theie are some big amounts, which include- Rent of giounds £1280 9s 2d, inteicst £640 13s 9d, lepiesentative expenses £649 5s 7d, and depreciation £1147 Ss 6d.

It is stated in the repoit that the committee once again had an anxious time in balancing its budget. At tho beginning of last year there were not sufficient funds available to meet the instalment on tho first moitgage, lent, and other chaiges ialling due befoie icvenuo would be available. FOl--tunatelj, the New Zealand Union came to the Wellington Union's assistance with a temporaly loan of £300, which was lepaid dm ing the season.

Thcie weie many lequesls to tho committee to reduce the ehaige ±01 club games. It was possiblo to leariango the teims of tho oveidraft moitgage to tho bank, and the bank had agieed to the limit being 1 educed by £500 per annum, in heu of the £1000 onginally ananged. Tho 1 eduction 111 interest chaiges also amounted to about £200 per annum. The committee felt that the benefit of theso reductions could be passod on to pations by jeducing the admission fiom one shilling to ninepence. Enthusiasts predicted that the lcdueed ehaige would ineiease theattendance The tesult was a diop on 1932 letuins of £449, and below 1931 by £870 v

As a lesult o± tho fine attendance and the new airangement with the New Zealand Union for-local unions to' receive one thud of tho not gate of New ZeaJaud,'-Union.matches, the .North v. South match gave tho handsomo profit of £.476. Rcpiesentative matches also netted £.800 moie than the pievious yeai. Consequently tho union was able to meet tho instalments of tho fiist moitgagcl paying £495 in leduc tion of pnnupal, and 1 educing tho ovcrdiaft moitgage by £500 Tho union was again unablo to'meet < the instalments duo on tho New Zealand moitgagos;, and application ±01 an e\tension of-'time was grafted. The, committee expresses its thanks to th& New Zealand Uuion foi the consuleiation extended in ;this and the other matters referred to '

The ehaiges on the Accident Fund fot the yeai weie foitunatolj less bj £160 than for 1932 Foi this the union was laigejy indebted to the officials of St. John Ambulance and the union doctors foi "then piompt attention to plajers.

Chanty Satuiday was held on July 8, and the gate takings from all grounds as well 'as tho proceeds from tho sale of tickets for the matches wore given for charitable purposes. The sum of £362 2s 6d was distributed. Since Charity Saturday was instituted in 1922, the union has contiitiu'ted '£2469 2s sd.

The lcpoit adds:—"The finances of the union will again require the most edieful attention of the committee in the foitticoming 3 oar, as the fi\ed annual charges arc still veiy heavy."