The meeting was the first to be held at the new Harry Jacob Community Rugby Centre at Playford Park.
Kennett said it was the first capital expenditure project since by the HKRU since the Levin Domain grandstand was built in 1961.
Gerald De Castro remained the president unopposed.
HKRU chairman John Mowbray congratulated CEO Corey Kennett for his 10 years at the helm as the union recorded another profitable year - their 10th surplus in succession.
"It's the 10th year now we've had a surplus and we're possible the only union in New Zealand that has managed to achieve that," he said.
While financial statements showed that was not a large amount - $1585 - the union had managed to fund a schedule of black tie events and reunions to celebrate its 125th anniversary this season.
Kennett said the anniversary events and expanded Heartland programme this season had put pressure on finances.
"I am extremely happy that we managed to complete all we did this year but still live within our means," he said.