Trust meets in public eye again
@devlincolle: The Invercargill Licensing Trust's first meeting of the year was a busy affair.
It started on a lighthearted note when board member Sean Bellew attempted to watch a horse race.
He didn't get his way, the board citing Invercargill City Councillor Peter Kett's failure to attend a council meeting in favour of the Invercargill races.
Trust president Alan Dennis said it was one of the first meetings in more than a decade where a member of the public - Southland food bank charitable trust chairman Peter Swain - attended.
The public were always welcome, Mr Dennis said.
Mr Swain said it was on his bucket list to attend. It was interesting, he said, thanking the board for assisting the foodbank for more than 20 years.
Trust general manager Greg Mulvey detailed financial and operational matters. The sales performance for December 2013, compared to the same period last year, showed sales had decreased by $223,000 (2.6 per cent).
It mostly related to lower trade sales through the Centrepoint distribution business.
Food, accommodation and bar sales increased by 7.1 per cent.
December produced the highest level of monthly sales for the year, totalling $8.3 million, he said.
A review of the trust's sales performance for January 2014, compared to the same period last year, showed sales had decreased by $351,000 (6.4 per cent).
Again, the decrease related to lower trade sales through Centrepoint.
January sales result was offset by higher food, accommodation and bar sales, he said. Cool weather also had a negative effect on retail bottle store sales.
December results often determined how the end of the financial year would look.
Mr Mulvey predicted profit could be down by $50,000 on last year, attributing this to the maintenance work being carried out on trust premises.
He updated the board on the various building projects.
The level of trust donations allocated totalled $3.5m, compared to last year's full year total of $3.462m. However, this included the first payment of $750,000 for the ILT Stadium rebuild.
ILT Foundation had given out about $4.2m, and unlike last year, it had no reserve funds and profit was declining, he said.
- © Fairfax NZ News
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