HEALTHY CREDIT BALANCE

Wanganui Chronicle, Volume 90, Issue 118, 23 May 1946, Page 5

HEALTHY CREDIT BALANCE

PROFIT OF £439 LAST YEAR REVIEW OP R.S.A. FINANCE | An excess of income over expenditure of £439, an increase of £77, was revealed in lhe balance-sheet of the Wanganui R.S.A. presented to the annual meeting last night. "The year under review has been a successful one. In comparison with the previous year income increased by £517 (from £1176 to £1693), this being mainly due to the rise in subscriptions of £512 (from £486 to £99B>. Expenditure, at £1256, was £440 more than in 1944,” reported the auditor, Mr. L. H,. Holland. “As regards the balance-sheet, total assets now amount to £4911, an increase of £2795. Freehold property. £l5OO, appears for the first time, this having been financed out of a Government grant. The credit in the Post Office Savings Bank has gone up by £B2O to £1264, mainly due to the donation of carnival committee of £762.” His report concluded with a tribute to the efficiency of the secretary, Mr. E. Barnett. "Although the balance-sheet, shows we have a lot of cash in hand, we may need it later, particularly if we enlarge the hall or have some of the hardships we had after the last war,” commented the retiring president, Mr. C. S. Smith. Although the property was shown at valuation of £l5OO, it was actually worth nearer £BOOO, but the £l5OO was what it had cost them, he pointed out.

“Your membership is bound to drop to a certain level in time,” said Mr. E. W. Merewether, patron, in urging members not to take things easy just because the association was well placed now.