2019 marks the completion of several financial goals set for BMX NSW which include the following -
- The improved funding model for our State Team athletes to support the demands of the National Series and make the team stand-out across all states in Australia.
- Single event finance model to improve revenue sharing between host clubs and the state.
- We continue to make technology and equipment investments with a focus to make life easier for all volunteers.
- We increased the rider contributions for the Test Team to better reflect the costs incurred by BMX NSW.
This has seen the 2019 State’s Balance Sheet improve from $36,192.
2018 V 2019 Financial Highlights –
Income
- Junior Test Team income increased by 42%
- Licensing income increased by 37%
- Rider Levy income declined by 11%
- State Title income increased by 13%
- Transponder fees declined by 43%
Expenditure
- Confluence was fully funded again
- Accountancy/Bookkeeping fees increased by 24%
- First Aid costs reduced by 16%
- Junior Test Team costs reduced by 18%
- Pro Prize Money reduced by 30%
- Scoring expenses were incurred for the first time
- State Team expenses reduced by 9%
- Training costs declined by 59%
The single biggest change for 2019 was the decision to reduce the number of events in 2019. This had numerous financial impacts and can be summarised as follows –
- Fewer events reduced the rider levies received
- Decreased the First Aid costs over the whole calendar year
- Reduce the amount of Pro Prize Money fund by the clubs throughout the year
The new expense incurred to have live and improved scoring at our events was deemed a success by the board and we have approved the use of Sqorz for the 2020 race season.
