FINANCIAL STATEMENT

Manawatu Standard, Volume LIII, Issue 14, 14 December 1932, Page 2

FINANCIAL STATEMENT

A. AND P. ASSOCIATION. LOSSES FROM SHOWS. “In view of the special circumstances, and the exceedingly difficult times through which we are passing, I wish to anticipate to some extent the statement which must bo made on the finances of the association at the annual meeting in April next,” stated the lion, treasurer (Mr T. R. Hodder) in submitting to the general committee of the Manawatu and West Coast A. and P. Association, today, a pro forma statement upon the recent Royal Show. “The aggregate of the outgoings is a large amount, and I feel impelled to offer a few comments upon the position in which wo find ourselves.

“Our present indebtedness is just about £16,500. We may reasonably expect a return of £240 for unsold cattle acquired for steer riding purposes, while outstanding amounts aro £sl 7s 6d. From the two Shows in 1931 wo made a profit of £Bl5 6s. and lost on the year's working £lOl Is 6d, without providing anything for depreciation. From the two Shows this year we can estimate a loss of somewhere in the vicinity of £3OO, and we must provide for some depreciation this year. ' If we needed £916 7s 6d, against which wo had a credit of £Bl6 6s, to bring us out square last year, what shall we require with this last mentioned credit turned into a debt of £3OO ?

“I have to point out that n good deal of money is urgently required for maintenance work, and every improvement put oil the grounds means a constant addition to upkeep. The association, as most of you know, has never been able to live without donations, and 1 desire to draw attention to the fact that not only is this source of income swiftly diminishing, but a general revenue from grounds- and membership fees is going the same way, whereas interest in rising and general charges cannot be greatly reduced. These facts, when coupled with the losses on the Shows, make the position most serious. “It is unnecessary to point out that, though the assets ale valuable and the bank is apparently willing to find money, we can only Joad the assets with the amount of interest we can pay. The more accommodation we get, the more rapidly will the interest rise as a matter of course. r J he estate is a large one to maintain, and the question arises as to whether or not the association lias not expanded too much for the population round about it. One or two questions obtrude themselves very forcibly. “The first of these is the constant changing of conditions, with the steady dropping out of the founders and the first generation who have carried the burden; these in turn now being succeeded by the second generation who, having gradually come in during years of progress and prosperity, do not realise how their forerunners worked, strove and gave to build up the organisation. The persistent tendency is to foster ideas that the association should be strong enough financially to pay lor many things to be done that used in days gone by to be done by members of tire committee; to institute new classes, and to vote money for improvements before it is known where the cost is coming from. In short, the way it appeals to me is that the expansion is ahead of the population's capacity, and, perhaps one might add, willingness to support it. “Another factor is the increase in the number of local shows, which have adversely affected both donations and the membership. I do not wish to be termed a pessimist, but a constantstudy of the position leads me to believe that very serious thought is required by members of the committee to what is to be done in the future, as it would appear that the association’s supporters by way of donations are quite unable to rally to its aid, and will probably be in like case lor years to come “The revenue from the grounds, buildings and plant rented and hired is also suffering severely, and 1 am of the opinion tiiat tire tendency _to grant the free use of grounds, buildings, plant and space should be checked, also the making of grants to other bodies, as the finances are in no state to allow of the, giving away of money which we have to beg for ourselves.

“The 1924 Royal Show donations amounted to £llo9 12s and tho Government subsidy to £1250, making a total of £2359 i2s lOd. The 1928 Royal Show donations were £1403 Is 9d and the Government subsidy £IOOO, making a total of £2403 Is 9d. The 1932 Royal Show donations were £530 12s 7d, and there was no Government subsidy. In addition to this, the breed societies found £167 10s, but this was all paid out in special prizes and was of no assistance to our funds. The prize moneys were £2980 9s 8d in 1924, £2580 16s lid in 1928, and £2091 17s 4d in 1932. It is evident that the association cannot pay its way unless it is liberally supported by the public.” Analysing the balance-sheet for the last Royal Show, the treasurer stated that the gates, stands, and cloak-room had yielded £1420 14s lOd, compared with £1192 10s 2d for the Spring Show of 1931, an increase of £228 4s Bd. Entry fees had amounted to £652 10s 6d, compared with £448, and space charges had returned £6OB 7s lOd, compared with £371, a very considerable increase. Privileges had brought £132 3s lid (£9B 3s lid) and donations £530 12s 7cL (£644 14s 6d), a decrease in the last named instance. The net proceeds of evening entertainments brought tho total revenue to £3352 18s. On the expenditure side prize moneys and trophies had accounted for £2071 7s 4d, compared with £1609 6s in 1931. Luncheons and judges’ expenses had caused a disbursement of £284 Is (£ll4 9s 8d). The genoral expenses were £774 Is lid, compared with £272 9s 9d, representing an increase of about £502. Labour charges were £468, an increase of £lll. The total expenses were £4059 7s 3d, showing a loss on the Show of £706 9s 3d, but this would probably* be reduced to £466 0s 3d when cattle on hand were realised on. Among the expenses incurred had been £164 11s lid for straw, green feed, mangolds and freight, and £240 9s for 74 head of cattle bought for the steer riding competitions. The actual stadium receipts showed a net profit of £8 8s 4d. There was a net loss of £3 0s 9d on the wrestling, and £l7 Is 2d on the boxing, but the community singing showed a net profit of £2B 10s 3d. However, the main gate receipts had been swelled considerably by the stadium attractions. Mr M. A. Conway suggested that the report should be submitted to a larger meeting of the committee for for mature consideration. He thanked the treasurer for bis report. Mr J. A. Nash, M.P. T congratulated the treasurer upon bis report, but expressed the opinion that the evening gate takings could l>e credited to the extent of 50 per cent, to the stadium 1 The chairman (Mr M. A. Eliott) congratulated Mr Hodder upon his excellent financial statement, and said all were indebted to him. He pointed out that tho expenses for the recent Show had increased by £I4OO, while the revenue had increased by only

£7OO. It showed that a loss must he incurred on a Royal Show without financial assistance from the Government and from the Royal Agricultural Society. The pro forma statement was received, and it was decided that it should be road again next meeting.