Treasurer’s Report Despite a promising beginning, the 2021 football season became compromised and ended in less than favourable circumstances for all VAFA clubs, players and stakeholders. In fact, the continuation of the COVID-19 pandemic interruptions has made the operational landscape for community football challenging - to say the least - and created levels of uncertainty that clubs and the VAFA Administration have not previously experienced. The VAFA Board and Administration continued to work diligently during the course of this extended ‘pandemic’ period, demonstrating fiscal prudence and financial responsibility. In doing so, we are pleased to announce a trading surplus for the 2021 financial year, and one which sufficiently has recouped operational losses of the previous two years.
5
There are several features and significant factors contributing to the fiscal improvement of the 2021 financial year, including (but not limited to):
The VAFA Board and Administration are very conscious of the financial stress that a compromised football season forces upon clubs, and we are continuing to consider initiatives to alleviate this duress and assist clubs to ensure their financial stability. The Board greatly appreciates the personal contributions to the successful operation of this most demanding year of the CEO Brett Connell, his management and administrative team of staff. The Board would also like to acknowledge the significant support of its sponsor and partners throughout the year. In particular, the ongoing financial support and technical assistance provided by Lindsay Holloway, the William Buck management team and professional staff has been invaluable to the VAFA Board and management team. As well, Bendigo Bank, Holmesglen Institute and our supplier partners who have provided financial support in difficult economic times for which the VAFA is most appreciative. Finally, the Board would like to acknowledge and thank all our member clubs and their administration teams for their ongoing support of our VAFA Administration team, their financial commitment to the competition and the way in which they have continued to manage their own club finances in these challenging times.
•
VAFA commercial partners & sponsors continued support through the pandemic period which has been maintained at ‘pre COVID-19’ levels
•
Continued loyalty, dedication and professionalism of staff combined with the prudent management of government pandemic financial support
•
A strengthened Balance Sheet (best in four years) with no core debt and robust liquidity levels, primarily as a result of positive cash flow management techniques and financial responsibility of all clubs
The Board and Administration team have significant plans for the forthcoming 2022 season by investing in our clubs, competition and business, including umpire recruitment, club development, expanded commercial activity, and 130 Year recognition events.
•
Continued review of administrative cost structures with ongoing commitment to member clubs to not increase affiliation fees and minimise financial impacts on clubs
We look forward to the challenge of a new season for the love of the game.
Mick Overman VAFA Treasurer
