ROTORUA CLUB.

Manawatu Standard, Volume LVII, Issue 219, 16 August 1937, Page 10

ROTORUA CLUB.

GOOD PROFIT SHOWN.

IMPROVEMENTS CONTEMPLATED.

Sound progress and a good year fmancially are recorded in the annual report of the Rotorua Racing Club, which has been granted the dates of February 12 and 14 next for its annual raco meeting, but has not been successful in obtaining an extra* permit, though the Rotorua and Bay of Plenty Hunt Clubs’ meeting will probably bo held on tho course on November 13. . , , The executive is carrying on witti tne courso improvement scheme and, as soon as tho grassing shows evidenco of permanent pasturing, it will be necessary to go into tho whole of tho building transformation scheme. Generally, the present financial arrangements are such that no embarrassment should face tho incoming committee in this connection. “It will be noted that whereas last year showed a profit of £1291 15s Id, the year under review yields £1475 Is 5d,” adds the report. “Receipts in the revenuo account exceeded the expenditure by £1745 17s .-.ld, and were carried to profit and loss account. After making provision for £253 11s 6d depreciation, and bad debts £l7 ss, there remains a profit of £1475 Is 5d to be carried to the capital account. This at date stands at £13,234 lls 2d. Assets show at £13,843 19s 8d and liabilities at £609 8s 6d, against last year’s figures of £12,465 6s lOd and £705 17s Id respectively. Taxes paid for tho last meeting were: Totalisator tax, £1760 18s; dividend tax, £1925 7s; stakes tax £26 17s 9d; amusement tax, £l2B 0s lOd; a total of £3841 4s sd. Tho statutory totalisator tax rebate has increased to 2* per cent., and has been obtained to the limit, this year amounting to £SOO. Also wo have relief of 1 per cent, on totalisator turnover. This is inosfc helpful and apprcciated by all racing clubs. It is noted tho Government has awakened to the urgent necessity of considerable taxation relief that is warranted and equitable to all racing clubs.” . Tho report states, in dealing with property improvements, that the old stables are now incorporated with tho main block, giving in all 76 looso boxes and other necessary appointments under tho heading; tho cost of removal was £422 7s lid. Considerable earth work has been carried out in connection with the new courso construction. Tho eastern bend has been completed and tho western bend is now almost completed as is also the back straight. ,It is anticipated that tho wholo of theso areas will be permanently grassed this coming spring. Tho actual cost of tho now course and lawn construction to date, _ including cultivation, manuring, and grassing, etc., totals £1991 12s Id. In this amount the sum of £lO4l 12s lid has been expended this year. Tho club’s freehold property has been ring fenced and acacia verciliata hedging has boon set to all boundaries. A large number of big pine and other trees have had to bo removed. The cost involved under this heading as property Improvements totals £277 0s 3d.