A focus on cost reduction and the hosting of two national championships has helped Cycling Southland move back into positive territory and turn around a significant loss from 2017.
The organisation has reported a profit of $46,990 for the year ending March 2018, a noticeable improvement on the $52,000 loss from the previous year.
President Reece McDonald said the positive result was particularly pleasing because it reflected a significant amount of work that had gone on behind the scenes.
“We’ve worked extensively with Sport Southland to develop a robust financial management reporting system and introduced important processes to manage what can be a tricky area for sporting organisations.
“Developing that financial capability will really benefit us in the future,” he said.
It was a challenging year, with the running of the usual events and activities – including the Yunca Junior Tour of Southland the SBS Bank Tour of Southland – as well as two national championships with three weeks.
“That was a massive undertaking for us but one that worked incredibly well because of our volunteer support.”
Investment had also been made in the development of future riders with 25 new track bikes being added to the fleet, as well as a new track timing system installed, McDonald said.
“We’ve been able to do what we do and do it well because of the support of community funders including the Invercargill Licensing Trust, the ILT Foundation and the Community Trust of Southland. We have also diversified our funding sources and will continue to look for new opportunities to ensure we provide a stable financial footing for the club.
“It’s certainly not an easy environment to operate in but we’re doing a good job at providing a pathway for young cyclists and we’ve seen a lift in participation numbers as a result.”
Cycling Southland members again shone on the national and international stage, with seven riders representing New Zealand at the Commonwealth Games.
“We’re also seeing sound growth in the numbers of junior riders taking up the sport, both on the road and on the track, while the retention of the SIT Performance Hub is providing a great pathway for those looking to represent New Zealand.”
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