DAIRY BOARD'S FUNDS

Stratford Evening Post, Volume I, Issue 257, 8 October 1931, Page 2

DAIRY BOARD'S FUNDS

"EXHAUSTED BY NEXT JULYPOSSIBILITY OF EXTRA LEVY The possibility of an increase in the levy imposed by the New Zeagaudi Dairy Produce Board is mentioned in the annual report. "In 1927 the board's levy was reduced to 1-32nd of a penny a pound of butter and 1-64th of a penny a pound of cheese," says the report, "but, in spite of the correspondingly reduced revenue, the board's advertising policy has been continued. As a result, the accumulated funds have been steadily depleted. In 1925 these funds stood at £46,681, whereas at July 31 1931, the amount was £13,349. The decrease for the 12 months is £BB6B. The levy, which was collected on the same basis as the previous year, yielded £39,366. Investments were responsible for a revenue amounting to £648, making the total income for the year £40,015.

"The ordinary expenditure, including expenses of branch offices, London oliice, shipping expenditure, etc., was £22,740. In addition, the sum of £3958 was paid to the New Zealand Dairy Produce Exporter Newspaper Company, Ltd., for the supply of a fret paper to all dairy producers; £420(1 was spent on scientific research, and £14,078 on advertising. The increased cost of the Exporter is due to the increased postal rate, which Look effect from the March issue. "In view of the difficult economic position of the industry, the board during the year reduced members honoraria by 20 per cent., and staff salaries in New Zealand and London by 12?. per cent. "At the National Dairy Conference in June a resolution was carried, requesting the board to grant for the coming year a subsidy of £6OOO to assist the herd-testing movement. The board agreed to this request, and the amount will be paid at the end of the 1031-32 season.

"The amounts expended during the past 12 months on activities other than ordinary expenditure are as follow: Advertising, £14,078; research, £4200 earthquake relief, £1000; New Zealand Exporter, £3958. For the incoming year the £6OOO to assist herd-testing must be taken into account. That will involve an increase in the amount of levy for 1932-33/if advertising, research, etc., are to be carried out on the same scale. It is anticipated that at July 31, 1032, the board's finances will be almost completely exhausted."