The New Zealand Olympic Committee presented the organisations 102nd Annual Report to its membership today at the Royal New Zealand Yacht Squadron in Auckland.
Kereyn Smith told representatives of the 42 National Sporting Organisations that 2013 had been a year of significant change.
The 2013 - 2016 Statement of Purpose designed to define the core business of the organisation and achieve greater alignment within the New Zealand sport sector had been implemented.
A number of new positions, particularly in athlete and sport facing roles, had been created and filled and a closer working relationship was formalised with HPSNZ and Sport NZ. The organisation also moved to Auckland. These changes would bring a more seamless transition for athletes into and through Olympic and Commonwealth Games and enhanced planning and risk management capability within the organisation.
The New Zealand Olympic Committee must ensure it boosts its resources and capability as the international high performance environment becomes increasingly demanding and the number of games we lead and organise grows, said Smith.
Our focus is to select, lead and organise games teams and lead and advocate in both the international and domestic sporting environments. We generate revenue to do this, and also continue to share the stories of our athletes achievements and inspire generations of young New Zealanders.
The financial position of the organisation in 2013 remains challenging. While reserves and working capital are currently protected and increased during the preceding year to $3.5 million (consolidated) and $2 million respectively, a 34% increase in revenue is required to lead and organise teams through to the Rio Olympic Games in 2016. This brings the budgeted income of the New Zealand Olympic Committee to $33 million (eds. $25 million 2009 2012).
Revenue from commercial partners, together with philanthropic and other partnerships, must increase to a total of 85% of revenue to meet this new budget. While public funding through HPSNZ and Sport NZ has increased in 2013, as a proportion, it nonetheless remains less than 10% per annum presently (at 9% per annum through to 2016). The New Zealand Olympic Committee closed 2013 with a financial surplus of $330,000.
The General Assembly moved to adopt the 102nd Annual Report and Financial Statements.
The membership re-elected Rob Hamilton to the New Zealand Olympic Committee board.
Hamilton, current audit committee chair, stood uncontested following recommendation by the Board Appointments Panel. Former Chef de Mission Dave Currie was appointed to the New Zealand Olympic Order in recognition for his service to the Olympic Movement in New Zealand.
The 102nd New Zealand Olympic Committee Annual Report can be downloaded here
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