The West Australian Football Commission (WAFC) has reported an operating profit of $4.27 million and a cash result of $10.97 million for the 2017 financial year.
The operating profit and cash result includes $10.95 million of State Government funding for 2018 that was received October 30, 2017, plus a charge for accelerated Stadium depreciation.
Separate to State Government funding, the WAFC recorded a net positive cash result of $20,000.
Operating revenue in 2017 increased by 1% from 2016.
WAFC CEO Gavin Taylor said that cost reduction efforts in administration and facilities had provided opportunity to maintain the WAFC’s investment across football in WA.
“Ongoing reviews and controls of operating expenditure played a key part in containing costs in 2017, which contributed to the overall result and allowed us to increase our investment into football related activities by 4.6%,” he said.
“Subiaco Oval hosted a wide range of concerts, AFL games and functions in its final year of operation, with solid catering revenues assisting in a strong financial return and contributing over 40% of the WAFC’s total revenue in 2017.”
The WAFC would like to acknowledge the West Coast Eagles, Fremantle Football Club, the AFL and the West Australian Government through the Department of Local Government, Sport and Cultural Industries for their ongoing investment into WA football and the community benefits it delivers.
Major WAFC outcomes achieved in 2017 included: