The Yorkton Terriers may have gone to the Saskatchewan Junior Hockey League finals, but that didn't translate into profits for the club.
In fact, the Terriers lost just more than $95,000 through the 2009-'10 season.
The large loss was announced at the team's annual general meeting held last Thursday.The loss was accumulated across most areas of the team's operation, reported team treasurer Bill Wright.
Season ticket revenues declined from $150,160 in the 2009 financial report to $127,024 this year, while game day admissions declined from $67,005 to $37,053.
The team also saw the Terrier Lotto net only $37,500, down from $109,448 a year earlier.
On the expense side salaries and benefits climbed from $156,741 in 2009, to $194,681 this year, and equipment and sticks jumped from $54,355 in 2009, to $120,378 this year.Total revenues before playoffs were $472,657 down from $595,371.The operating loss before playoffs was $170,659.
The playoffs netted $51,644, and other recoveries added $23,832, leaving the season loss at $95,183.
"Certainly the playoffs had a big impact on us," said Wright.
The Terriers went into the season with net assets of $56,811, leaving a net season loss of $38,371, reported Wright.
The major loss on the season was what Wright termed a "major issue," but noted the situation was not isolated to Yorkton "but is a league thing," where ticket sales declined last season.
Wright said the Board of Directors is keenly aware the dual issue of rising costs, and declining revenues must be addressed.
"While not a pretty picture there are a number of initiatives that should bare fruit in the future," he said.
The Terriers had relied on their home lottery the last few seasons as a major fundraiser, and this year ticket sales were not as strong as in the past, said Wright, adding such lotteries face more competition now.
As a result the Terriers have to find new revenue sources, offered Wright.
"We've got to come up with new ways to generate revenues," he said.
