WAIPA’S YEAR SHOWS A SMALL PROFIT

Sun (Auckland), Volume II, Issue 443, 27 August 1928, Page 10

WAIPA’S YEAR SHOWS A SMALL PROFIT

NO SECOND PERMIT GRANTED (Special to THE SUN) TE AWAMUTU, Saturday. The following is the annual report to be submitted to members of th% Waipa Racing Club on September 7: Notwithstanding a drop in the totalisator turnover 'at the annual race meeting in December, the net surplus for the year is £377 16s 7d. The club’s efforts to obtain a second totalisator permit did not meet with success, notwithstanding the application was approved by the Auckland District Committee. During the year the club appointed an architect and adopted a scheme of improvements which it is proposed to undertake as funds permit, and this year authorised the building of new conveniences. This work is now being proceeded with. The club’s liabilities are shown as £12,584 0s lid, the principal items being overdraft £6,269 11s lOd, loan on building £ 500, mortgage on house property £1,500, profit and loss account £4,610 3s Id. The meeting account shows that the club paid £1,120 in stakes, £1,040 6s as dividend tax, £577 16s as totalisator tax, £55 8s 4d, amusement tax, £56 stakes tax, £144 6s lid, printing and advertising, £ll9 6s 6d wages, £45 Conference levies, and other items accounted for £ll4 17s sd, leaving a balance to profit and loss account of £947 5s Id. Gate money totalled £520 ss, totalisator £2,022 6s, totalisator dividend tax £1,040 6s. stakes tax £56, nomination and acceptance fees £353’ race card sales £l5O Is 3d, booth rights fines £8; aggregate, £4,239 18s The profit and loss account showed that subscriptions provided £299 6js, the totalisator tax refunded was £2so* training fees £133 15s, rent of strfbles £Bl 17s 6d, grazing account £7O 11s lOd, and donations 19s; meeting account profit. £946 5s Id. Interest accounted for £530 12s sd, wages and salaries £304 10s, repairs and maintenance £79 8s 2d, rates £97 8s Bd. insurance £34 4s, general expenses £ll4 17s Id, depreciation written off £2OO 12s 6d, subscriptions written off £47 5s The balance is £377 16s 7d.