By Derek Cornet

Financial statements show revenue drop for La Ronge Ice Wolves

Jan 30, 2019 | 6:13 PM

The La Ronge Ice Wolves Junior Hockey Club faced a tight 2017-2018 financial year ending last June, according to statements released Monday at their annual general meeting.

Revenues are down, overall, compared to the previous year with the biggest drop contributed to a nearly $70,000 decline in advertising and sponsorships. Donations and other contributions were also down by about $15,000 and the club finished its financial year with $512,000 in revenue, an overall $55,000 drop from 2016-2017. The statements show there was a $21,000 increase in fundraising revenues, which was absorbed by a $33,000 jump in fundraising costs. The club ended the last financial year $300 in the red after posting profits of $40,000 the previous year.

“Probably one of our biggest things is we’re keeping the hammer down on the debt,” club Vice-President Brent McDougall said. “Whatever we kind of make, we’re trying to put ourselves in a better financial situation. Keeping that debt lower is going to help us out in the future.”

The largest portion of revenues for the club is fundraising, which accounted for $282,000. McDougall noted the most lucrative fundraisers for the Ice Wolves are the beer gardens and concession at the Elks Fair in July, as well as their Trip of the Month promotion. An additional $75,000 was earned through admission and memberships with another $15,000 coming from the sale of merchandise.

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Fundraising also accounts for the largest expenses for the club with nearly $121,000 being spent last financial year. Travel was the next biggest expenses at $105,000 followed by salaries, billet room and board, player equipment and supplies, and player transactions.

“It’s been getting better,” McDougall said about admission to games. “Usually people who come out to watch the games are pretty happy with the level of play. We got our players out there and they’re trying hard every game. It might not show up on the scoresheet, but they’re playing hard and not giving up.”

The club also made some minor changes to the way they conduct their finances by deciding to move the end of their fiscal year from June 30 to April 30. The costs of memberships will also increase from $2 to $10 as the low price didn’t bring the executive the boost in applicants they were looking for.

derek.cornet@jpbg.ca

Twitter: @saskjourno