POVERTY BAY TURF CLUB

Poverty Bay Herald, Volume LIII, Issue 16373, 22 June 1927, Page 5

POVERTY BAY TURF CLUB

THE ANNUAL REPORT The annual report of the Poverty Bay Turf Club, which has been circulated to members of the club, is considered thoroughly satisfactory, in view of the financial position disclosed. the prolit and loss account shows a debit balance of a little over £IOOO on the years work but this figure is almost entirely offset by the value of improvements effected to tho course and appointments of the club. The report is as follows : "During the year the whole of the buildings have been, painted and repaired at a cost of £695 18s Bd, and are. in first-class condition, while road work and improvements were made at a. cost of £174. The balance-sheet .shows a etebit for the year of £lOl4 4s Bd. This can be accounted for by a falling off of receipts generally, and also by the expenditure shown in the acco "" ts r ' viz., painting and maintenance, £690 18s Bd. roading £IOO 14s 4d, and depreciation £2lO 5s 4d,; a total of £9oo 18s 4d.

" The totalisator investments for the year amounted to £54,719, as against £59,488 last year—a decrease of £4729. Tho only liability of the club at dateis the bank overdraft of £759 18s. Tho members of the, committee who retire by rotation are Messrs. J. Clark. W. G. Sherratt, and A. IT. Wells. Tho thanks of the committee are due to Mr. F. W. Nolan, lion, treasurer, and to the executive officials for their services throughout tho year."