Wellington records improved financial result

Cricket Wellington in its first season as a body representing all regions of the game in the Capital has recorded a better financial result than expected.

When its budget was first drawn up, it expected to lose $71,000. But when its annual report was released today it showed a loss of only $20,573.

The improvement was the result of increased revenue from sponsorship and marketing activities.

One-off costs involved in the amalgamation of Wellington Cricket and the Hutt Valley Cricket Association, and the restructuring of Cricket Wellington (CW), cost $109,374.

CW chief executive Ervin McSweeney said: "Amalgamation and restructuring costs aside, this has been a pleasing result.

"Having two high profile teams in the West Indies and Australia touring has allowed Cricket Wellington to take advantage of associated activities and excellent gate revenues.

"We believe opportunities offered by the WestpacTrust Stadium, the two new training facilities (Stadium and Hutt Recreation Ground) and some innovative marketing initiatives will allow consolidation of our financial position in the next financial year," he said.

The amalgamation of Wellington and Hutt Valley has resulted in an opportunity to realign the financial reporting to give a more accurate picture of the associated income and expenditure of CW.

Wellington did suffer a $177,910 difference in hosting international cricket games compared with the summer of 1998-99. Only $404,251 was received compared to $582,161 the previous year.

McSweeney said: "The substantial difference in income this year relates to the fact that New Zealand Cricket paid the venues directly for hireage and Cricket Wellington shared in the gate revenue."

In domestic cricket income was down by $21,708 as the result of the costs of the women's 1st XI being included for the first time. It also reflected the continuing downturn in receipts from Shell Cup matches over the summer.

Costs of amalgamating club cricket in Wellington and Hutt Valley under the one controlling body were also reflected in the better return of $57,426 from club cricket.

Most pleasing was the dramatic increase in memberships last summer. These leaped from 300 the previous year to 800. This resulted in a turnaround in the decline in memberships that had developed over the two previous summers when members complained they were not being treated fairly by the administration.

Net assets of the association have improved significantly from $375,322 to $1,347,458.