2021 Fee re-structure & financial recovery plan

Over the past months the executive committee have engaged the services of some external financial consultants to help guide the association through its current position of financial strain. 

A combination of the Monsoon Event of 2019, the COVID-19 Pandemic of 2020 and rising operation costs (mainly insurance and electricity costs) have put the association in a position where it is currently struggling to meets its financial obligations. In an attempt to make Townsville Basketball affordable for its member the association has tried to absorb some of these increases without any substantial fee increases which has led us to where the finances currently sit.

The Executive Committee and the management of Townsville Basketball last week met with the Presidents and Delegates of the seven clubs to present a pathway to financial security. The approach was accepted by these representatives as the best way forward to ensure that Townsville Basketball will not only survive but thrive into the future.

We are very proud of what has been achieved in 2020 in very trying times and there is exciting developments in the near future for our basketball community. We are currently finalising our plans around approximately $1Million of grant funded facility improvements that we are believe will present other income streams to take the pressure of our members.

I ask all of you to please take the time to read our Fee Re-Structure and Financial Recovery Plan on our website which can be found by clicking the link below. It is understandable that many members may have further questions around this plan and as such members of the executive committee and the management of TBI will be available for face to face discussion around the plan at Townsville Basketball at the following times;

Saturday 5th December 2020 at 10:00am-11:00am

Tuesday 8th December 2020 at 6:30pm-7:30pm

On behalf of all of the members of the Townsville Basketball community we would like to thank you for your continued support as we look to continue to grow our sport in Townsville.