Scout
06-28-2007, 08:45 AM
Keen's Korner
Thursday, June 28, 2007
Broncos Post $160k Budget Surplus
After three years of consecutive losses, the Broncos finally put a stop to the financial bleeding by posting a budget surplus of just over $160,000 from last season. The extra money also puts the operating fund back over the $1 million dollar mark for the first time in a few years.
I attended the Annual General Meeting with about 30 others last night to get the financial facts from this last season. The major reason for the big surplus was the $328,000 dollars the team received from the Western Hockey League. I'm told this is for things like Memorial Cup and World Junior revenue plus expansion fees from Chilliwack and Edmonton.
However, the extra money allowed the franchise to add $80,000 to the Education Fund - over and above the $78,000 in acquired liability.
The AGM consisted of Chairman of the Board of Directors Joe Arling with his annual report, The team's financial picture was also presented. Dean Chynoweth handled the hockey side and outlined some of the highlights from this last season. He fielded about six or seven questions from the floor before turning things over to Director of Business Operations Eldon Moberg. He gave a detailed report of the several revenue streams and ventures the team was involved with this season.
Afterwards Randy Rolufs presented a report on the Hockey Hounds and they're work from the 06/07 season. They do a great job each and every year and should be commended.
It was great to see the big surplus this season but the Broncos are no doubt benefiting from a huge chunk of change from the Western Hockey League - something we won't see again for awhile, at least not for that amount.
It was also pointed out the Broncos hope to add about 150k-200k in extra revenues through expansion. Namely the new luxury suites which by the way aren't all sold yet. The team is confident they will all be spoken for in the coming years.
Thursday, June 28, 2007
Broncos Post $160k Budget Surplus
After three years of consecutive losses, the Broncos finally put a stop to the financial bleeding by posting a budget surplus of just over $160,000 from last season. The extra money also puts the operating fund back over the $1 million dollar mark for the first time in a few years.
I attended the Annual General Meeting with about 30 others last night to get the financial facts from this last season. The major reason for the big surplus was the $328,000 dollars the team received from the Western Hockey League. I'm told this is for things like Memorial Cup and World Junior revenue plus expansion fees from Chilliwack and Edmonton.
However, the extra money allowed the franchise to add $80,000 to the Education Fund - over and above the $78,000 in acquired liability.
The AGM consisted of Chairman of the Board of Directors Joe Arling with his annual report, The team's financial picture was also presented. Dean Chynoweth handled the hockey side and outlined some of the highlights from this last season. He fielded about six or seven questions from the floor before turning things over to Director of Business Operations Eldon Moberg. He gave a detailed report of the several revenue streams and ventures the team was involved with this season.
Afterwards Randy Rolufs presented a report on the Hockey Hounds and they're work from the 06/07 season. They do a great job each and every year and should be commended.
It was great to see the big surplus this season but the Broncos are no doubt benefiting from a huge chunk of change from the Western Hockey League - something we won't see again for awhile, at least not for that amount.
It was also pointed out the Broncos hope to add about 150k-200k in extra revenues through expansion. Namely the new luxury suites which by the way aren't all sold yet. The team is confident they will all be spoken for in the coming years.