2018 Finance

Owned by Melissa Chambers (Unlicensed)
Last updated: Jan 11, 2019


Role: Control, monitor and manage the financials for BMX NSW

The 2018 BMX season has seen the State experience a total income decline from $272,485.05 to $264,178.51 (-3.05%). Our total expenses increased from $267,767.75 to $287,472.65 (7.36%) resulting in a ‘Net Income’ deficit of $23,403.20.

This has seen the State’s Balance Sheet decline from $190,133.60 to $166,927.72.

2017 V 2018 Financial Highlights –

        Income

  • Junior Test Team income increased by 30%
  • Licencing income was flat
  • Rider Levy income was flat
  • State Title income was flat
  • Coaching course income was down 93%
  • Transponder fees were down 44%


        Expenditure

  • Confluence was fully funded again
  • Bookkeeping fees were down 13%
  • First Aid costs reduced by 4%
  • Junior Test Team costs increased by 18%
  • State Team expenses increased by 47%
  • State Title expenses increased by 59%


Confluence is enabling the State to continually build a comprehensive Finance library, this will provide greater transparency for the current and future boards. This information will also improve our ability to forecast and budget for the future needs of the sport.


2018 was a year of continual improvement within our sport. With the support of the Board, the Financial Portfolio looked to provide adequate support for a number of key objectives as follows - 

-State Team. Approval was provided by the Board to substantially increase the financial support of our State Team riders, to best position them in attending and competing in as many National Series Rounds as possible.

-Equipment Upgrades. With a focus on making the life of our volunteers as easy as possible, we continued to review and upgrade the software and hardware required to run successful BMX events.

-Branding. We continue to invest in branding items that will enable the sport to grow. This year the Board agreed to invest in new headsets, laptops, branded banner mesh, digital artwork, and professional photography, to name a few. We do believe the professional promotion of BMX NSW as a brand will support the future growth of our sport.

-Awards Overhauled. In support of the great work of our Events Director, the end of year dinner and awards were overhauled with great success. Award recipients, invited guests and our BMX community was delighted with the new format.

-PayPal. The State used PayPal for the first time in 2018 to support the new online Merchandising Store for State Titles. The increase in Merchandise sales can be directly attributed to the ease in which attendees could complete their online transaction.




The financial focus for the State will continue to be on controlling costs. We will also use the financial information on Confluence to help us apply for grants and sponsorship, with the aim to diversify our income.

BMXNSW