A row has broken out over the Oamaru Licensing Trust annual accounts for the past financial year as campaigning intensifies for places on the trust board in next month's local body elections.
The 2009-10 annual accounts have not yet been made public, upsetting one board member who believes they should be released before people vote.
Trust chairman Ali Brosnan yesterday acknowledged there was some disquiet in the community that the annual accounts had yet to be released.
"Unfortunately, the accounts have been held up in the auditing process, but are due to be released in the next week," he said.
However, Mr Brosnan said the result in the last year's account was "back on the loss" (worse) in the 2008-09 financial year, trading having been affected by the economic downturn.
Board member Peter Garvan, who is seeking re-election, believed the public had the right to an "immediate update" of the trading results, even though audited accounts were not available.
Voting papers had been out since September 17, and for voters not to have the update was not in accordance with the need for transparency, he said.
The dispute over the accounts between the two board members came after Mr Garvan attempted to have the financial report released before voting papers were sent out.
In the 2008-09 financial year, the trust recorded an after-tax $282,425 loss, compared with a profit of $324,474 in the previous financial year.
The loss was attributed to having one of its major liquor complexes, Northside, closed during a $3 million development.
The 2007-08 financial year included the sale of the Waihemo Lodge in Palmerston, which inflated the profit.
