As gaming grants start to disappear from the income ledger on the balance sheets of racing clubs across New Zealand, funding needs to be found from somewhere.
The Forbury Park club is no different and its sponsorships were down from $251,849 in 2012 to $184,233 in 2013.
Initiatives such as the Christmas At The Races brand, which has been successful for many clubs throughout New Zealand, brought almost $9000 into the club.
The club ended the financial year with a net profit of $62,122 before depreciation, a figure that chairman of the board John Henderson said was pleasing. With depreciation taken into account, a loss of $72,210 was recorded.
''Finding alternative sources of funding remains a priority,'' Henderson said in his report to the club.
''While some progress was made during the year through obtaining fence signs, meeting sponsors, race sponsors and functions such as Christmas At The Races, there is much that needs to be done.''
Five motions were passed at the meeting. The committee has been reduced from 12 members to six, to work alongside the president, vice-president and immediate past president. The club's quorum was reduced from seven to four as a result.
''Over the past year, three meetings have had to be abandoned because we didn't have a quorum,'' club president Peter Gillespie said.
Members at the meeting unanimously agreed to adjust the membership and subscription structure.
Memberships will now be split into three main categories - corporate membership, membership and junior membership.
Life memberships were bestowed on Alan Clyma, a committee member for more than 20 years and president in 2009 to 2011, and Maureen Simpson, who is the longest-serving female committee member in the club's history with 18 years' service. Profiles on Clyma and Simpson will follow.
