Wanganui rugby union post $50,000 profit

Jeff Phillips has been voted in for another term as chairman of the Wanganui Rugby Football Union.

The Wanganui Rugby Football Union has met its annual financial targets with a stable hierarchy at the helm.

Jeff Phillips was re-elected chairman and Dave Hoskin president at last Tuesday's AGM where a $50,000 profit was also announced by chief executive Bridget Belsham.

Both Phillips and Belsham said the profit was far more modest than the record $107,000 surplus announced last year.

Last year's surplus was a major turnaround from a disastrous record $128,000 deficit under an old office regime in 2014 and a $36,000 loss in a 14-month 2015-16 period.

The union had also moved to a 12-month fiscal period finishing at the end of December each year.

Belsham then cited increased funding from New Zealand Rugby, grants from charitable trusts and sponsors combined with a prudent office policy as the major factors for the unexpectedly high 2016 surplus.

She said last year was an extraordinary season, but the union was now back on an even keel and investing in its core business.

"We are in the business of developing rugby and that is just what we are doing," Belsham said.

"Last year was an extraordinary season and got us back on track. The board has requested we achieve a $50,000 surplus each year and we achieved that. I would much rather make $50,000 after investing in rugby development than $100,000 and not investing," Belsham said.

Phillips said his board was satisfied targets had been met and that the way had been paved to work toward other goals.

"New Zealand Rugby's cash reserves policy is for each union to set aside half of their operating costs each year. We are working toward that goal, but it will probably take us four or five years to get to that level. In the meantime, the board is happy with the way things are progressing," Phillips said.

Election of officers

WRFU Board Chairman - Jeff Phillips (elected unopposed)
President - Dave Hoskin
Council of Clubs Chairman - Marty McGrath (elected unopposed)
Council of Clubs
Board Representatives
Brian (Porky) Green (elected unopposed), Alan Proude (elected unopposed)
Independent Board
Carl Gibson, Glenn Wadsworth, Gareth Hagan, Geoff Lott