Because of that, the 14-month result showed a $36,000 loss, but the 12-month result showed a $23,000 profit and suggested the WFU administration team headed by Belsham was on the right track to climb back into the black.
"There was nothing anyone could have done with the historical transitions inherited by Bridget and her team apart from tidy them up and that has been done," re-elected chairman Jeff Phillips said yesterday.
"But since Bridget and her team have been in office, they have turned things on their ear and made a $23,000 profit and we are now poised to improve on that over the next 12 months. Much of the improvement has come down to the business acumen of Bridget and her team - her nine years' experience in banking has paid dividends," he said.
Belsham said a number of factors were responsible for the turnaround.
"Sponsorship is up $33,591 on last year, which is pleasing and grant funding is significantly up by $91,235."
Meanwhile, Geoff Lott has replaced the retired independent board member Blair Ross, while Kyall Green steps in as Council of Clubs representative alongside existing members Brian 'Porky' Green and Marty McGrath. One spot remains vacant.
"While there is a risk in singling anyone out, I would like to express the board's gratitude for the contribution of three individuals - John 'JB' Phillips who came back from retirement to serve as interim CEO, Blair Ross who stood down as an independent board member after 10 years and Geoff Slight who is not standing this year after 12 years as chairman of the Council of Clubs," Phillips said.
Utiku Old Boys stalwart Colin Thomas was also awarded life membership to the WRFU at the annual meeting.
Thomas had been an active participant in rugby for the last 60 years, heavily involved in all facets of the game including as a player, referee, coach and administrator.