Success on the pitch and at the bank for NYS

The city's biggest sports organization revealed its finances at its annual general meeting on Monday.

The Nelson Youth Soccer Association's board of directors addresses its members during Monday's annual general meeting.

The beautiful game continues to be profitable for Nelson’s biggest sports organization.

Nelson Youth Soccer was in the black for 2015 and is projected to be once again this year, according to financial statements released at the association’s annual general meeting Monday night.

Chairman Kerry Dyck said he was cautiously optimistic about the organization’s health following the AGM, which was held in a packed room at the Prestige Lakeside Resort.

“We’re certainly satisfied,” said Dyck. “I think, as some of the members made the point, you never want to get complacent just because we had a good year or maybe a couple good years [and] just assume that that will continue… Because I think when you get complacent that’s when it starts to slide.”

The organization’s actual revenue is at first glance underwhelming, but also a misleading figure when judging the health of NYS.

A minor excess of revenue over expenses of $5,491 was recorded in 2015, which is down significantly from the $32,662 profit in 2014. An increase of $27,176 in wages and benefits, which Dyck said corresponds with the need to hire staff for the indoor facility, is the main cause for the downturn in revenue.

But three other figures do a better job of reflecting the state of the organization.

Firstly, growing registration continued to pay off with $134,627 in earnings, which was up just over $2,000 from the previous year. NYS projects that figure to grow to $140,000 by 2017. The 2016 outdoor season included 964 kids and 268 adults. Indoor numbers meanwhile showed 320 youth players and 308 adults.

The organization also continues to quickly pay down debt incurred by its 2014 purchase of the indoor soccer facility. Initially the purchase was made with a $350,000 loan from the City of Nelson, with the stipulation it be paid off at a minimum of $70,000 per year plus interest.

NYS owes just $160,000 on that loan now, a figure that will be down to $90,000 by the end of 2016.

Finally, NYS has put away $76,707 in a reserve intended to eventually help fund an artificial turf field. The organization presented a preliminary plan to the city last month.

Dyck said conversations continue with Selkirk College about the plan, which would use an undeveloped field behind Mary Hall at the Tenth Street Campus.

“If we get agreement from [Selkirk], then we’ll start moving ahead with some of the specific decision making. That’s sort of what we’re waiting on. Nothing goes ahead without Selkirk College being on board.”

Just Posted

Caribou panel hears from critical public

About 250 people turned out Wednesday evening to give feedback on the provincial government’s caribou recovery plans.

Youth climate strikers present to regional district

Next continent-wide school strike for climate planned for Nelson May 3

Glacier Gymnastics wins 12 medals at provincials

The club sent eight athletes to the event

VIDEO: Alberta man creates world’s biggest caricature

Dean Foster is trying to break the world record for a radio show contest

Kirkland Signature veggie burgers recalled due to possible metal fragments

Recalled products came in 1.7 kg packages with a best before date of Apr. 23, 2019

Chaos at the ferry terminal for people heading from Vancouver to the Island

Easter crowds create backlog at Tsawwassen ferry terminal

Parents of 13 who tortured children get life after hearing victims

One of their daughters fled their home and pleaded for help to a 911 operator

Flooding, climate change force Quebecers to rethink relationship with water

Compensation for victims of recurring floods limit to 50% of a home’s value, or a maximum of $100,000

Storms blast South, where tornadoes threaten several states

9.7 million people in the Carolinas and Virginia at a moderate risk of severe weather

Private cargo ship brings Easter feast to the space station

There are three Americans two Russians and one Canadian living on the space station

Notre Dame rector: “Computer glitch” possible fire culprit

The fire burned through the lattice of oak beams supporting the monument’s vaulted stone ceiling

Most Read