THE Goulburn Valley League announced at last Wednesday’s annual meeting it operated at a loss of $62,497 this year.
And when coupled with the previous season’s loss of $41,175, it is $100,000 down in just 24 months.
But league chairman David Roff looked at the bottom line in a positive light, highlighting $70,000 in club grants as the main factor behind the huge loss. Without them, he said, the organisation would be in front.
‘‘Day to day this year we’ve recorded a surplus of close to $7000,’’ Roff said.
‘‘When we sold the Dunkirk Ave building we had a discussion with the clubs and the clubs agreed to quarantine $120,000 for a facilities grant program.
‘‘Obviously we’ve been expecting to reduce our assets by that $120,000 when the clubs apply for the grant, but even taking the $50,000 remaining out, the league still has a quarter of a million dollars in the bank, which you could expect to run our organisation on for six months.
‘‘Any organisation that can carry six months’ cash flow on hand is in a pretty strong position I think.’’
The chairman spoke of the long-term benefits for clubs of new facilities - members, players, supporters and the local community.
‘‘There are five clubs yet to receive their funding for specific projects, so in all we estimate the total program will contribute to around $750,000 of facility improvement, which we believe is a very unique scenario to have a league provide such funding benefit to their member clubs,’’ he said.
But Roff expected the bank balance to be climbing in the new year.
‘‘We have got to have a bank balance to make sure we can operate the league,’’ he said.
‘‘We recorded an underlying surplus this year and we expect to do so again next year.’’
Along with signing up to AFL Goulburn Murray’s administrative services for another three years, the league also confirmed its board for next season.
Quentin Thomson, Freddo McMahon and Mick Williams were all re-elected unopposed, and with the resignations of Phil Friedlieb and Jacqui Thomson, the league reduced the board to seven members, initially slated to be done in 2019.
Roff, Jacqui Hudgson, Rhonda Kortum and Sandra Witham all come up for re-election at the end of 2018 when their two-year terms expire.