In years past the Moose Jaw Warriors annual general meeting could be a contentious affair.
With the fortunes of the Western Hockey League franchise on the rise on the ice and off, there was no acrimony as the team released its financial statement Tuesday.
The Warriors posted a modest profit of $16,987 in net earnings. In 2009, they posted a modest loss of $3,120. More significantly, the franchise has $487,768 cash in reserve and $677,463 in retained earnings.
“I think this franchise has come a long way in the last five or six years. It’s shown some stability,” said Warriors president Chad Taylor.
“Our goal is to have an operating budget that balances out every year and making the playoffs is our bonus.”
The Warriors return to the post-season in 2010 certainly helped the coffers.
The profit doesn’t count the money in the Warriors education fund — the money needed in reserve to fulfill their scholarship obligations for former players. This past season 16 players used $77,000 from the fund. Nor does it count the $122,000 in new money that the Booster Club brought in this past season.
“We’ve got a healthy education fund and a healthy Booster Club. At one time those were all grouped together and they’re all really healthy,” said Taylor. “The Booster Club is a part of our franchise that we don’t talk nearly enough about. If it wasn’t for the Booster Club, this franchise wouldn’t be here.”
The board added three directors by acclamation. Bob Calvert and Larry Sentes return for another term and Charles Vanden Broek will begin a new term. Rick McKeown was presented with a gift after completing his term.
For more please see Wednesday's Times-Herald.
