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Gladstone Show Society’s finances under scrutiny

Gladstone Show Society’s finances under scrutiny
October 24, 2013

The Gladstone Show Society has been put on notice by the Queensland Office of Fair Trading (OFT), after failing to submit complete financial statements for the past two years.

With the OFT confirming that the return for 2011/12 had been outstanding since February, local media have reported uncertainty over who fills the role of the Society's Treasurer.

The return for 2010/11 was submitted last year, but was missing an auditor's report.

An OFT spokesperson explained "Gladstone Show Society was advised of this by letter dated 24th August 2012 (and) four reminder letters have subsequently been issued seeking the outstanding information, but to date it remains outstanding."

Finances for 2009/2010 were only submitted in August this year, and showed a tough financial situation.

Gate takings fell by more than $20,000 in a year to $24,265 while spending on show attractions was slashed from $17,526 in 2008/09 to just $8,858 in 2009/10.

Government grants accounted for $14,348 of the society's income that year - but overall income was down more than $40,000.

Rent and camping income was listed as $8,995 in 2009/10.

But from 2012 until July this year, dozens of motorhome residents have paid $150 a week to stay at the showgrounds, due to accommodation shortages.

Some tenants estimate the total rent - paid in cash - was more than $250,000.

Recently, the OFT gave the society a deadline of 21st September for all reports to be submitted, but it was not met.

 ‚ÄčImage courtesy of the Gladstone Show Society.

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The news we publish at www.ausleisure.com.au is independent, credible (we hope) and free for you to access, with no pay walls and no annoying pop-up ads.

However, as an independent publisher, can we ask for you to support us by subscribing to the printed Australasian Leisure Management magazine - if you don't already do so.

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