Treasurer’s Report
2024/2025 Season
Annual General Meeting
May 21, 2025
 
The Financial Statement with Notes for the 2024/2025 season of the Sherwood Parkdale Rural Minor Hockey Association is attached.

• There was an increase of only $4,000 in player registrations this season accompanied by an $18,000 increase in ice rental expenses.  At the same time, there is almost $13,000 less ice rental revenue since the association had more teams than the previous season and a shortage of available ice.
• Funds received from the High 5 for Kids program were down by $8,000.  This is a result of the Belvedere Esso no longer participating in the program.  We now only have Chuckies and online sales that contribute to SPRMHA.  This was offset by increases in funds from the Early Bird Tournament and the U17 World Hockey Challenge - Legacy Fund.
• Development revenue was $14,873 and expenses were $13,745, a net profit of $1,128.  The development program was primarily put on by Andrews Hockey Growth.  Development was shared with CMHA.
• The tryout process was run differently this year, and revenues and expenses went through the association.  Tryout revenue was $18,831 and expenses were $13,240 not including referees and ice costs.  There was a small net loss to the association after including referees and ice.
• Provincial fees, league fees, and Game Sheet fees are all charged by Hockey PEI and are billed across to the individual teams at cost.
• Equipment costs are down as we are preparing to merge with Charlottetown Minor Hockey and did not purchase any new jerseys.
• Bursaries were paid out for both the 2023/2024 and 2024/2025 season.
• Education and training increased due to an increase in participation in the various HPEI certification programs.
• Office includes two years of Goal Line invoices and there was an increase of $1,500 in registrar fees.
• The season ended with a deficit of $60,756.  Even with the budgeted deficit, the association chose not to increase player registration fees again this season.  The deficit was funded by prior year retained earnings.

REVENUE
		2022/2023	2023/2024	2024/2025
	REGISTRATIONS:
1	Player Registrations	195,252	207,954	210,765
2	Registration Refunds	(7,390)	(9,265)	(6,370)
3	City Subsidy	30,960	32,280	30,720
4	Kidsport	7,010	8,498	8,345
	Total Player Registrations	225,832	239,467	243,460
	TEAM FEES:
5	Practice Fees	36,700	45,300	41,580
6	Ice Revenue	17,745	24,770	15,840
7	Referee Fees	8,000	7,600	8,250
8	Provincial Fees	8,125	9,550	10,500
9	League Fees and Gamesheet	3,750	2,050	3,949
	Total Team Fees	74,320	89,270	80,119
10a	Development	420	10,966	14,873
11a	Tryout Fees	6,825	8,118	18,831
12	High 5 for kids	20,766	22,992	15,000
13	Early Bird	20,000	17,500	20,000
14	U17 World Hockey Challenge - Legacy Funds	-	-	8,275
	Miscellaneous Revenue	-	479	-
TOTAL REVENUE		348,163	388,792	400,558
EXPENSES
15	Ice (Bell Aliant Centre)	107,196	143,678	142,771
16	Ice (Cody Banks)	91,687	92,139	100,872
17	Ice (Eastlink Centre)	25,638	24,750	36,540
18	Ice (Other Rinks)	-	13,809	12,350
	Total Ice	224,521	274,376	292,533
19	Referees	27,921	38,310	39,060
20	HPEI Registration	17,442	25,281	27,938
21	HPEI Insurance	12,980	15,771	17,428
22	Education and Training	2,262	4,006	8,322
8	HPEI Provincial Fees	8,625	9,690	10,750
9	HPEI League Fees and Gamesheet	2,050	2,225	3,950
23	Equipment & Jerseys	4,821	21,589	11,363
10b	Development	5,852	23,700	13,745
11b	Tryout Expenses	-	400	13,240
24	Miscellaneous Expense	9,825	11,743	11,134
25	Office Expenses	4,037	4,005	5,703
26	Bursary	-	-	4,000
27	Gifts & Plaques	1,322	1,220	1,848
28	Bank Charges	341	530	300
TOTAL EXPENSES		321,999	432,846	461,314
NET PROFIT / (LOSS)		26,164	(44,054)	(60,756)
OPENING BANK BALANCE		105,971	132,135	88,081
CLOSING BANK BALANCE		132,135	88,081	27,324
NOTES:
1	Player registration fees collected
2	Registration refunds and transfers
3	City subsidy for city residents
4	Players funded through Kidsport
5	Practice fees collected from each team
6	Money collected from teams that used extra ice time
7	Referee fees collected from teams
8	Provincial fees charged by Hockey PEI and billed to teams
9	League and Game Sheet fees charged by Hockey PEI and billed to teams
10a	Development fees collected from players for development programs put on by the association
10b	Fees paid to Andrews Hockey Growth for putting on development programs
11a	Tryout fees collected from players for participating in tryouts
11b	Evaluation software and payemnt to evaluators, does not include referee and ice time costs
12	Money collected from Hi 5 for kids, we lost a location which is why this has dropped from last year.
13	Income from Early Bird tournament
14	Funds received from the U17 World Hockey Challenge - Legacy Fund
15	Ice rental at the Bell Aliant Centre
16	Ice rental at Cody Banks Arena
17	Ice rental at the Eastlink Centre
18	Ice rental at other rinks
19	Referee salaries & HPEI referee fees
20	Players & bench staff registration with HPEI
21	Players & bench staff insurance with HPEI
22	HPEI fee for trainer clinics, respect in sport and coach courses
23	Pucks, jersey cresting, ipads, mini nets, 1/2 ice board clips and equipment manager fee
24	Ice coordinator fee & honorarium for executive members
25	Registrar fees, goalline invoices, sanction fees, accounting software
26	Bursaries paid to one male and one female player (this is for both 2023/2024 and 2024/2025
27	Christmas gifts for Cody Banks rink staff & plaque for long time volunters and  graduating players
28	Bank monthly charges