Stadium trust posts $49,896 loss

Despite the Marlborough Stadium Trust recording a record revenue, it posted a loss of $49,896 after depreciation for the financial year ended June, according to its annual report.

The report was presented to the Marlborough District Council's assets and services committee yesterday. It shows the trust, which runs the Marlborough Lines Stadium 2000, received more then $1.79 million for the year, up from $1.56m the previous year.

There were an estimated 341, 731 visits to the stadium, with each Marlburian averaging just over eight visits. Pool visitors reached 164,638.

The Marlborough District Council provided $310,000, including an energy subsidy, to the operating costs of the pool and stadium. It has provided this amount annually for the past eight years.

Expenses totalled just over $1.84m, with wages a large contributor at $905,570 and energy at $182,225.

Treasurer Matt Kerr said "extraordinary" costs associated with investigating options for the new aquatic development had caused the loss.

He said the trust had committed $500,000 to the aquatic redevelopment in the coming financial year.

The project is expected to be completed by mid-2011.

In his report to the committee, trust chairman Luke van Velthooven said one of the highlights of the past year was the success of a learn-to-swim programme for which more than than 1100 students enrolled each term.

He was delighted with the trust's performance.

The report will go before full council on December 10.

- The Marlborough Express