Netball South bank surplus for 2018 financial year
Netball South Zone Inc has recorded a $20,000 surplus for the 2018 financial year.
Board chair Paul Buckner announced the result at the organisation’s AGM staged in Invercargill.
“The financial challenges sporting organisations face are well documented so this positive result is a credit to all involved and testament to the hard work and dedication across all facets of our sport,” he said.
The result enables Netball South to make inroads into an historic deficit.
“Carrying that negative equity into 2019 continues to place pressure on cashflow but if we can stay the course of consistently achieving a surplus in the coming years, that should ease,” Buckner said.
Netball South chief executive Lana Winders said a significant contributor to the surplus was increased sponsorship revenue and the positive financial impact of hosting the Sunshine Coast Lightning in a pre-season tournament.
“This proved instrumental in off-setting reductions in gate receipts caused by the Southern Steel fixtures rotating into a six-game home season instead of seven,” she said.
The organisation would remain focused on “cutting its cloth to fit”.
“We are always striving for surpluses but we do anticipate they will be modest in nature as gains we achieve across our revenue are consumed by the tightrope we walk to strike the right balance between what we an afford and what we need to continue delivering a winning performance environment,” Winders said.
At the AGM, Netball South delegates voted to award life membership to Invercargill Netball Centre stalwart Julie Erskine, along with service awards to Vicki-Lynne Hubber (Central Southland), Kirsten Scully (Dunedin), Joanlea Wilson (Invercargill) and Teresa Alexandra (Upper Clutha).