THE FINANCIAL SIDE

Manawatu Standard, Volume L, Issue 114, 10 April 1930, Page 2

THE FINANCIAL SIDE

A. AND P. ASSOCIATIONS POSITION. SURVEY BY~TREASURER. A brief survey of the financial side of the Manawatu A. and P. Association’s activities was given to members at the annual meeting, yesterday, by the treasurer, Mr T. R. Hodder. “Notwithstanding particularly bad weather on the two principal days, the gate takings at the National Dairy Show' were only £lO6 behind the previous year, which was the highest gate up to thq.t time,” said Mr Hodder. The net result of the show was £1450 4s 9d.

“The net results of the spring fixture were most pleasing,” he continued, the gate receipts totalling the fine sum of £1779 19s lOd, only exceeded once before-I—by 1 —by the Royal Show of 1925 — when they amounted to £lßl3. Undoubtedly the steer riding competition on the first day was mainly responsible for this, the increase being £461 13s over the first day’s gate takings of the Royal Show in 1928, which was a record up to that date. BUILDINGS AND IMPROVEMENTS During the last 10 years new buildings and improvements have been carried out costing £11,458 12s 6d, an average of £1145 17s 2d per annum, whilst -writings-off out of surpluses have amounted to £8164 14s 6d, an average of £Bl6 9s 5d per annum. When it is remembered tliat included in the balance of £3293 18s are a strong-room. Nos. 5 and 6 halls, a large portion of the boundary fence, the new. oval fence, horse boxes, a counter luhch and new bar rooms,- entertainment hall, Plunket rooms and ladies’ room, alterations to the gate stewards’ office, steer yards, new roads to side shows, besides other minor improvements, it will be seen at once what an extremely sound position the association is in with respect to the book value of the premises which now stands at £13,000. Completed works during the past year have cost the association £B9B Is 4d but, following the well established policy of the association to keep book values low, the whole of this amount has been worked off. The full amount written off for depreciation totals £lll7 2s Bd. “Owing to the age of some of the buildings the charges for upkeep ere increasing. This year £785 16s 3d, against £447 3s 4d lasfT year, has been transferred to the profit and loss ac-. cofint. . _ “It is. to be regretted,” said Mr Hodder in conclusion, “that there is a slight falling off in donations this year. The sum raised was £1149; in 1926 it was £1207; in 1927, £1254; in 1928, Royal Show, £1403. Although the association is in a good sound position it could never be in the proud position it occupies, nor could it make any advance unless it was liberally supported by voluntary subscriptions; and we me deeply grateful for this assistance, in the past. It must be borne in mind that we still have a Loan on mortgage of £BOOO, loans unsecured of £2300, and an overdraft at tho bank of £3477, a total of £13,747 Is sd, upon which we pay interest to the amount of £648. It should be tho policy of the association to wipe off loans and bank overdraft before entering into any undertakings which would involve large sums of money and thereby unduly itemise our capital account.”