Presidents Report 2016-2017
I am very pleased to be able to report on another profitable and exciting year for the City of Dubbo Turf Club.
Our profit was exceptional under the circumstances. Two washed out meetings, a postponed Gold Cup and three months lay off due to track drainage work, saw us well behind budget by the end of 2016, but a very strong second half of the financial year, with several successful meetings, saw our profit come in at $103,240.
The reported profit is $1,508,644 but this is inflated due to grants and interest free loans from Racing NSW. Once adjusted our trading profit is as above. While below the previous year, the club incurred extra costs due to direct and indirect expenses, related to the extensive capital works programmes carried out.
A major contributor to this profit was our starter payments. Dubbo trained horses started a total of 1,668 times in NSW during this year, resulting in a contribution to our bottom line of $222,735, well up from $176,853 for last year. This increase has propelled Dubbo to the highest producer of starters for any NSW country club this season.
TAB turnover on our ten TAB meetings conducted was almost 10.5 million dollars and from 86 races run in the season we averaged 11.67 starters, almost one per race more than the state average of 10.7.
Looking to the future, it is not this committee's intention to seek to have the highest prizemoney race or race meeting, but to develop over time several meetings and feature races that will distribute higher returns to local owners benefiting the industry as a whole in the Central and Western areas.
One of our key strategies going forward is to further develop the opportunity for trainers to increase their horses in work, thus ensuring the viability of the club.
You will shortly see the erection of a new set of twelve stalls which will be owned by the club, thanks to a loan from the Dubbo Regional Council.
We are also endeavouring to secure finances to do major renovations to the stabilizer gold training track to prolong its viability.
Our marketing and promotion sub-committee, along with our General Manager Vince Gordon have set out to re-engage the Dubbo community and I believe this is happening with renewed enthusiasm for racing and larger participation at meetings. This is still a work in progress and a long way from reaching our final goals.
Thanks to our committee for your efforts. It is a pleasure to work with a pro-active and harmonious group who as one only want racing to succeed in Dubbo and the greater area. I would like to express my personal thanks to Charles Maclean and Angus Barlow who have decided not to seek re-election for this coming year.
Vince Gordon, our General Manager, Damien Johnston, our Track Manager and all our support staff, we thank you again for your continued efforts under at times very trying conditions.
The support the club receives from both Racing NSW and Dubbo Regional Council is extremely appreciated. We have a great working relationship with both parties and this all goes well for the future of the club.
To our sponsors and members thank you for your continued support and I hope that together we can continue to foster a more vibrant racing industry in the Central West.