The Olds Grizzlys are continuing to face financial challenges, adding just over $17,000 to the team's debt through the 2011-12 season, bringing the total to about $90,000.
The news was shared at the team's annual general meeting on Wednesday.
“We had a decent year, the playoffs definitely helped us out. We had some very important items throughout the season … the world juniors (pre-tournament game), that was a great bonus for us, but unfortunately our fundraising fell short this year … so we're in a little bit deeper hole than we were in last year,” said Kevin Weiss, treasurer on the team's board of directors.
Weiss said he thinks the budget for the upcoming season is an attainable one.
“Definitely, we need to start going the other way. We've only got a little bit of room left to work with so that's why it's so imperative that we start getting the organization going,” he said.
The Grizzlys had set out an ambitious plan at last year's annual general meeting of retiring about $30,000 in debt, but the club fell short on fundraising objectives. On a positive note, each playoff game brought in about $8,300 compared to about $1,700 for each regular season game. The team also made about $5,000 from hosting Team Sweden and Team Denmark in December.
Some new initiatives that outgoing team president Jim Ross pointed to as potential revenue sources include the cash calendar going ahead again this year, while plans are also in the works to host an exhibition game in late September between Calgary Flames alumni and Grizzlys alumni.
The team's revenue from season ticket sales in 2011-12 was down about $3,300 from the previous season's $10,300.
In addition to Weiss being named treasurer for the upcoming season, Henry Czarnotta assumed the president's role, taking over from Ross. Jeremy Tookey was confirmed as the club's vice-president.
