Otago Cricket beats forecasts to post profit
THE Otago Cricket Association (OCA) reported a small win at its annual meeting last night — that is more than the Volts can manage at the moment.
The association had budgeted for a loss, but instead recorded a modest profit of $8281 for the financial period ending July 31, 2018.
‘‘We had budgeted for a small loss this year, so it is pleasing that we were able to maintain an improved cash position,’’ OCA chief executive Mike Coggan said.
‘‘At the same time [we are] continuing to improve the quality of our training facilities and bringing on board necessary increases in staff across our region to improve our delivery in community cricket and talent pathways.’’
The association’s net revenue grew marginally from $3,483,717 to $3,495,147. But total expenses rose as well, lifting by $74,422.
Last year, the association reported a surplus of $71,274.
Longserving board member Russell Hendry officially stood down after 15 years of service.
OCA chairman James Lovelock
thanked Hendry, a life member of the association, for his wonderful contribution and lengthy service on the board.
‘‘Russell is someone whose eye is always on the ball, particularly in the finance area,’’ Lovelock said.
‘‘He was always prepared to say things that needed to be said, even [when] that wasn’t comfortable. That is crucial to have
around the board table.’’
The 79yearold played 34 firstclass games for Otago between 1962 and 1974. He also got in a couple of oneday games at the end of his career.
His spot on the board will be taken by Renuka Bayly, the second woman to join the board in the past 12 months, while Adam Gain has been reappointed for a second term.
‘‘We are very fortunate to have been able to attract a board director of the calibre of Renuka,’’ Coggan said.
‘‘Renuka is an experienced accountant with a passion and involvement in cricket, and we are fortunate that she has come on board at a time when Russell has chosen not to seek reappointment.’’
Gain and Bayly were recommended by a fourperson independent appointments panel from a shortlist of five applicants. Both directors will serve a threeyear term through to 2021.
Bayly’s appointment comes at a time when New Zealand Cricket is pushing for more female involvement at governance level.
❛ We had budgeted for a small loss this year, so it is pleasing that we were able to maintain an improved
cash position
OCA chief executive Mike Coggan