TIMELY ECONOMY

Gisborne Herald, Volume LXVIII, Issue 20635, 10 December 1941, Page 8

TIMELY ECONOMY

GOLF CLUB FINANCE 1 MATURING INSURANCE J With membership falling off owing to , tlio absorption of men and women for tho aimed forces, the Poverty Bay Golf Club , has suffered a substantial reduction in income during the past year, and members will welcome the advice conveyed in tho annual report that a considerable saving in i overhead costs will be effected as from this year, as tho result of tho maturing of an insurance policy taken out some years ago , as an investment. 1 Tho adjustment of finances resulting from ; the maturing of this policy will mean that ■ by 1943 the club will be able to reduce 1 it? annual commitments by £2OO. The • falling-off in subscription revenue last ■ season amounted to £272. and the need for • economy has been brought forward by the • committee in an urgent recommendation to 1 members, since it is regarded as likely ■ that further reductions in income are to ; bo expected during the war. Total receipts for tne year just closed were £I2OO, as against £1482 last year, while expenditure was £1332, as against £1391, leaving a net deficit of £126 for the year in place of the previous year’s net surplus of £9l. Assets of the club are valued at £4784, this total including £2057 as tho value of shares held in i uverty Bay Golf Links, Limited. Tho reserve for improvements to tho clubhouse now stands at £462. ...umbel-ship figures for tho year just closed showed a drop from 135 to 96 in the number of full playing members in the men’s section, and from 92 to 82 in the Women’s section. Total membership in tho men’s division fell from 229 to .195; and in the women's section from 155 to 152. Several non-playing members made donations to the club funds during the year. The report records with deep regret the loss of a valuable member in Mr. 11. E. Maude, whoso death occurred recently. Thanks are extended to Mr. A. W. Harper and his sub-committee for their efforts in adding to tlie building fund, the addition during the year being £4O. The women’s catering sub-committee also receives the club’s thanks, and the report expresses appreciation of tho services rendered by the greenkeeper and his assistant. Nominations received for seats on the committee for 1941-42 comprise Messrs. W. D. Barker, M. W. Howe, E. E. Jenkinson, W. M. Jenkins, I. 11. O’Meara, and J. W. Fergic. No election will be necessary. Messrs. A. W. Harper and 11. W. T. Buckley, past members of tho committee, did not seek ■ re-election.