to view the 2010 Annual Report - Triathlon New Zealand

financial
report
for the year ended 30 June 2010
Tri NZ had a satisfactory year financially given the
challenges we faced due to the economic climate and the
pressure faced by our key funders.
The High Performance arm of Tri NZ made a reasonable
surplus, as targeted, so that we are in a good position to
fund the London 2012 Olympic campaign. The Sports
Services arm of Tri NZ recorded a small deficit which, in
consideration of the circumstances, is a fair result.
Tri NZ’s income is derived from three primary sources:
SPARC, our sponsors and community trusts.
For the year to June 2010, SPARC funding was significantly
up on 2009 ($2.36 million against $1.66 million) for two
reasons. Firstly, SPARC now channels its event sponsorship
through Tri NZ rather than directly and, secondly, SPARC
has increased its funding of our High Performance
programme as we build towards the next Olympics.
After allowing for the cessation of the World Triathlon
Festival, our sponsorship revenue also rose when
compared with the prior year. This was largely as a result
of the sponsorship of our new TriWoman Series in its
inaugural year. We are extremely grateful to the long-term
partnerships that we enjoy with nearly all our sponsors.
These relationships enable us to continue providing our
many services to our members and stakeholders.
Funding from community trusts remains an extremely
valuable source of revenue to Tri NZ and, although affected
by the current economic environment, we will continue to
strive to deliver some great community sport outcomes.
We take this opportunity to thank SPARC, our sponsors,
particularly our primary sponsor, Contact Energy, and
our Community Trust partners and look forward to their
continued support.
We continue to manage our costs tightly and are in a
position to quickly react to the many challenges and
opportunities that may arise. We restructured our
organisation this year to ensure that we remain fully
focused on the efficient delivery of services to the sport of
triathlon.
With ongoing economic uncertainty, the year ahead
will continue to present Tri NZ with financial challenges.
However, our forecasting process is well established and
with significant funding already secured for the year ahead
and our strong financial position, we are confident that Tri
NZ is well placed to meet such challenges.
Triathlon New Zealand 2010 Annual Report | 58