The Goulburn Valley League operated at a loss of $62497 this year.
The figure was announced at the league’s annual meeting on Wednesday night to about 30 club delegates in attendance at the Shepparton RSL.
When coupled with the previous season’s loss of $41175 that is a deficit of six figures in just 24 months.
However, league chairman David Roff is looking at the bottom line in a positive light, highlighting $70000 in club grants as the main factor behind the huge loss, which he says when taken into account puts the organisation in front for the year.
‘‘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 $120000 for a facilities grant program.
‘‘Obviously we’ve been expecting to reduce our assets by that $120000 when the clubs apply for the grant, but even taking the $50000 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 league has estimated that the grants it has handed out to seven clubs this year have enabled more than $400000 worth of development in the region, with more infrastructure to come.
‘‘In all, the league’s $70000 spent so far has contributed to $417000 worth of facility improvements which will directly benefit our clubs, their members, players, supporters and their local community,’’ Roff said.
‘‘There are five clubs yet to receive their funding for specific projects, so in all we estimate the total program will contribute to around $750000 of facility improvement, which we believe is a very unique scenario to have a league provide such funding benefit to their member clubs.’’
While engineering change in the community is an important aim of the league, Roff also knows that money in the bank is needed to run his organisation, and he expects the league’s bank account to begin to rise again soon.
‘‘We have got to have a bank balance to make sure we can operate the league,’’ he said.
‘‘Even though it’s an overall loss we’ve got that invested separately and we have to take that into account.
‘‘We recorded an underlying surplus this year and we expect to do so again next year.’’
The amalgamation of the Goulburn Valley football and netball leagues has had no discernible impact on the GVL’s bottom line in its first year, with funds acquired covering for new costs taken on board.
‘‘I’m really happy with the way it is working,’’ Roff said.
‘‘The girls with netball experience have been really valuable and it has all gone pretty smoothly.’’
Along with signing up to AFL Goulburn Murray’s administrative services for another three years, the league also confirmed the make up of its board for next season.
Quentin Thomson, Freddo McMahon and Mick Williams were all re-elected unopposed to their respective board positions, and with the resignations of Phil Friedlieb and Jacqui Thomson, the league brought forward the reduction of the board to seven members, which was initially slated for 2019.
‘‘Phil has been a valued board member over the past three years with his excellent financial and strategic knowledge, and Jacqui played a great support role over the past 12 months in assisting with the amalgamation of the football and netball into the one entity,’’ Roff said.
Roff, Jacqui Hudgson, Rhonda Kortum and Sandra Witham will all come up for re-election at the end of next year when their two-year terms expire.