Late funding leads to deficit for basketball

Basketball Manawatu¯ has declared another deficit, but it is mainly the timing of their financial year that cost them.

Basketball Manawatu¯ announced a deficit of about $40,000 at their annual meeting on Sunday night, a worse result than last year’s $5000 loss.

They had a $17,940 surplus the year before.

Operations manager Helen Richardson said there wasn’t as much grant funding in the past year.

Another reason is Basketball Manawatu’s financial year falls before the end of the calendar year and before the national secondary schools championships.

Basketball Manawatu¯ pays to host the enormous schools event, but grant money doesn’t arrive in time for the annual meeting.

There was an increase in teams this year and an increase in venue cost, which added to their costs.

Teams were up by 49, to 359 teams, the highest it’s been in years.

The association still has cash reserves.

The board is unchanged with chairwoman Tess Petley, Jemma Lawton, Vonese Walker, Kelly Chrystal, Tom Te Puni and Rawhiti Turia.

The association also had an item of general business where they talked about opportunities for players. The board put in a proposal about building development opportunities.