Financial statement shows Humboldt Broncos had strong year, details tragedy expenses

An financial report released by the Humboldt Broncos shows the team is stronger than the previous year when it comes to its regular operations.

The report, released Nov. 1, details the team’s finances from June 1, 2017 to May 31, 2018.

article continues below

They reported a $225,100 surplus compared to a loss of $47,665 the previous year. These numbers exclude donations and expenses connected to the April 6 collision.

"The numbers are a bit skewed since not all of the bills for the 2017/18 hockey season were paid before May 31," wrote Jamie Brockman, the team’s president, in an email. "So they will show up in next year's financials."

Revenue increases are coming from an increase of $19,698 from gate revenues, bringing that line item up to $81,981; $65,250 more in ad revenues, bringing that line item up to $215,986; and $291,196 more in lottery revenues, bringing that line item up to $548,530. Brockman wrote the ad revenues were high because the team received payment for three years worth of advertising on its ice resurfacer.

In a separate note, the report also gave details about the financial impact of the collision.

The team received $1,579,125 in donations, while $167,383 was spent on the team’s response. The expenses were further broken down into $73,709 for travel, $59,618 for marketing, $27,047 for legal, $1,559 for office, $5,316 for meals and $134 for service charges.

“There was additional travel expenses, legal fees and communication fees for services that were needed from outside of the organization to help us get through the first few months immediately following the tragedy that we normally wouldn’t have required,” Brockman said in a media release.

No further details about those expenses have been provided.

“Now that things have slowed down somewhat, we are able to move forward with our ‘new normal’, and we are once again self-sufficient. We have the manpower internally to carry out our day-to-day business as a hockey club and some of the contracts for services with outside agencies are no longer needed,” said Brockman.

The president wrote his team aims to be fiscally responsible in the coming years.

"With the additional funds that were donated to the organization we will continue to maintain the integrity of the Humboldt Broncos," he wrote. "We will put a successful product on and off the ice for Humboldt and surrounding communities that people can be proud of. We will never forget the friends we lost and continue to support those that continue to heal."

The Journal is waiting to hear more details about how the team plans to disperse the donations.

© Copyright 2018 Humboldt Journal

Comments

NOTE: To post a comment you must have an account with at least one of the following services: Disqus, Facebook, Twitter, Google+ You may then login using your account credentials for that service. If you do not already have an account you may register a new profile with Disqus by first clicking the "Post as" button and then the link: "Don't have one? Register a new profile".

The Humboldt Journal welcomes your opinions and comments. We do not allow personal attacks, offensive language or unsubstantiated allegations. We reserve the right to edit comments for length, style, legality and taste and reproduce them in print, electronic or otherwise. For further information, please contact the editor or publisher, or see our Terms and Conditions.

comments powered by Disqus

Community Event Calendar


Find out what's happening in your community and submit your own local events.

Popular Humboldt News