2016 West Australian Football Commission Financial ResultMonday, February 27, 2017 - 8:16 PM

The West Australian Football Commission (WAFC) demonstrated its ability to maintain financial stability and build on cash reserves in 2016.

This included recording a net profit of $1.032m and cash result of $617,000 to achieve the WAFC’s objective of building its cash reserve balance sheet.

The cash result was outlined at tonight’s Annual General Meeting (Monday, February 27), along with the annual investment of more than $24 million into developing WA football.

WAFC Chief Executive Officer Gavin Taylor said the outcome was achieved through sound financial management and a focus on building the WAFC’s balance sheet in a period of uncertainty surrounding football’s future economic model.

“In 2014 the WAFC set an objective of developing a cash reserve of at least 10% of its annual turnover budgeted at $3 million by October 31, 2017. Solid financial management plus a range of one-off special events held at Domain Stadium over the last three years assisted the WAFC to achieve this target by the end of October 31, 2016," he said.

“The current cash reserve now provides the WAFC and its stakeholders some security in a period where the football industry is in the final stages of negotiating a future economic model and developing a reform strategy to ensure the health and success of WA Football.”

Other major achievements in 2016 included:

• A 34% increase in participation with 302,662 West Australians now actively involved in Football competitions or programs
• Arresting a declining trend in male youth participation (13 to 17-year-olds) and achieving 2% growth  
• 42% growth in female football participation
• An $11.3m net result from Domain Stadium
• Commencing a Structural Review of WA Football

The WAFC would like to acknowledge its major funding partners including Fremantle Football Club and the West Coast Eagles, the AFL and the Western Australian Government through the Department of Sport and Recreation. Their support enables the WAFC to invest in programs and initiatives which help grow and develop football in WA and deliver important social and community benefits.

CLICK HERE to view and download the 2016 WAFC Annual Report