New Zealand Golf chairman Phil Hassall is confident his organisation has "turned the corner" after two years of losses with the New Zealand Open.
Hassall said yesterday the annual tournament was no longer a financial risk to NZG after an agreement with promoter Tuohy & Associates.
The districtsaccepted the issues that led to the financial loss of a $345,539 operating deficit and $695,472 for the NZ Open for 2006 at the annual meeting in Wellington yesterday.
Hassall said much of the operating deficit was due to unforeseen circumstances, including a reduction in the high performance mid-year grant advised late in the year and also provision for unresolved issues from the NZ Open dating back to 2004.
"While 2006 was challenging, the board of NZ Golf is confident we have turned the corner," Hassall said. "We have addressed some long-standing issues and are in good shape as an organisation.
"Golf is still the largest participant sport in this country with 500,000 people playing each year and with 135,000 financial members."
He said general operations were on target for a surplus this year.
Hassall also stressed the importance of a single voice for golf here, wanting to see greater co-ordination and co-operation with the PGA of NZ and Golf Tour of NZ.
The board was keen to continue with an amalgamation process by staging some key events, including the amateur championship as a combined tournament with men and women.
The organisation was undergoing a review of its high performance programme.
Meanwhile, the three successful applicants for the board for the next two years were standing member Geoff Saunders, of Christchurch, former ING managing director Paul Fyfe, of Auckland, and Jeanette Futter, of Wellington.
Hassall, Susie Simcock, Richard Taylor and David Howie have another year to serve as board members.
Former NZG president Fred Henderson, of Auckland, was voted a life member of the organisation.
