HEAVIER RATES

Evening Post, Volume CIX, Issue 42, 19 February 1930, Page 16

HEAVIER RATES

MIRAMAR GOLF CLUB

FINANCIAL REPORT

Increased subscriptions will be discussed at the annual meeting of the Mirainar Golf Club on Monday evening next. • The report shows that at the close o'f'the year there were 241 ordinary members in the men's section and 175 in tfre ladies' section of the club,, and 212 midweek, country, absent, non-playing,;■arid, junior members, five life members, and one contributing life member. . . .■

A small debit was shown on the year's working. The report says:—'' ln consequence of the increased valuation of the club's property, the liability for rates and taxes was very much increased. Whereas on the; old valuation the club was not liable for land tax, the tax payable on the now valuation amounted for the year to £220 9s, and rates for the current rating year to £577 10s ; as against £213 19s lOd for the previous year. Those increases accounted largely for the increased expenditure for the year, which amounted to £4359 15s 3d, as against £4146 0s Sd for the previous year. • On the other hand, the.,.iijcome..for the year, £4302 15s lOd, was greater than for the previous year, £4172 18s 3d. A reference to the balance-sheet will show increases in,,subseriptions and entrance fees and in ; green fees, but a: reduction in competition fees. This reduction was due to the policy of the committee in reducing the entrance fees for competitions other than programme events. The sum of £300 was paid off debentures out of the annual allocation for interest and sinking fund. The committee decided during the year to raise on mortgage from the. Government Insurance Department the sum of £5150, this being obtained for four years at 6 per cent., repayable at the same time as • the earlier advance of £10,150. The purpose of the advance,-. was to pay off the whole of the balance of the club's debentures. One result will be a 'considerable saving in detail work and consequent expense, and will avoid the necessity, for providing out of ea_eh year's revenue a sum for reduction of debentures. It was felt" that in view of the club's strong position there was no longer any necessity for making, this annual reduction of capital liability. The saving thus effected will be a partial set-off against the increased yearly expenditure to be met for rates and. taxes. The* committee rccom-mends-that the balance of this increased expenditure be met by an increase of £2 2s entrance fee and £1 Is in the subscriptions of ordinary. and midweek members (men) and ordinary members (ladies)." .

No new works of any magnitude wore carried out during the year, the only constructional alteration being the approach to No. 9 green. The approaches to the eighth and thirteenth greens require' attention, together with a rescheming of the bunkers guarding No. 2 green and the-widening of the "gap" on the fairway to No. 15. The shortening of No.'3 fairway was rendered necessary by the taking of -portion (City Council property) for the airpork A further portion of the fairway belonging to. the council is now held by the club, under a licence. It was not' found possible to undertake the drainage' works-referred to last year,, and' the whole matter is an important one which may require the attention of the incoming committee when it is known what funds will be available. However, the drainage of the Miramar Valley now being undertaken by the council niay beneficially affect the course. It is proposed to erect a fence on the boundary of the club's property between the third and fourth'greens to junction with the existing- fence erected by the City Council in .connection with the airport grounds.