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

Leafs lose marathon season opener

Nelson fell 3-2 to Fernie in double overtime

Latest round of Columbia River Treaty talks wrap up in Cranbrook

Federal, provincial, U.S. and Indigenous representatives recently met for eight round of discussions

CHECK THIS OUT: Libraries as safe spaces for the homeless

Anne DeGrace writes about an upcoming movie and talk focused on libraries and homelessness

First Nations given max compensation for Ottawa’s child-welfare discrimination

2016 ruling said feds didn’t give same funding for on-reserve kids as was given to off-reserve kids

PLACE NAMES: Kaslo and Sandon neighbourhoods

Narrow valley saw Sandon’s main street over a creek

VIDEO: Vancouver Island mayor details emergency response after fatal bus crash

Sharie Minions says she is ‘appalled’ by condition of road where bus crashed

Federal party leaders address gun violence after weekend shooting near Toronto

One teen was killed and five people injured in the shooting

Conservatives promise tax cut that they say will address Liberal increases

Scheer says the cut would apply to the lowest income bracket

B.C. VIEWS: Cutting wood waste produces some bleeding

Value-added industry slowly grows as big sawmills close

Fewer trees, higher costs blamed for devastating downturn in B.C. forestry

Some say the high cost of logs is the major cause of the industry’s decline in B.C.

Federal food safety watchdog says batch of baby formula recalled

The agency says it’s conducting a food safety investigation

UVic president offers condolences after two students killed in bus crash

‘We also grieve with those closest to these members of our campus community,’ Cassels says

Coming Home: B.C. fire chief and disaster dog return from hurricane-ravaged Bahamas

The pair spent roughly one week on Great Abaco Island assisting in relief efforts

Most Read