An increase in total revenues by approximately $310,000 over the previous year was announced this past week by the New Jersey State Interscholastic Athletic Association (NJSIAA) — the governing body of high school sports in the state.
The NJSIAA’s financial report for the school year that ended June 30 revealed that along with the increase of total revenues, net assets for the 2015-16 fiscal year increased by approximately $450,000 to a total of $3.1 million. The NJSIAA also reported that expenses increased by approximately $68,000.
“Controlling our expenses across multiple categories is an ongoing commitment of ours, and these results show we’ve been successful in this regard,” said Steve Timko, NJSIAA executive director. “We experienced extremely favorable weather, particularly during the football season, which led to the increased revenues.
“Despite our solid financial performance this past year, we face several significant business risks driven by external forces. It is because of these external business risks that the association is continuing to increase its operating reserve levels to be more in-line with the best practices of similar-sized non-profit associations.”
The NJSIAA is moving forward with expansion and partnerships in various sports and programs.
“During the 2016-17 fiscal year, the NJSIAA will implement several new initiatives, such as expanding the State Individual Wrestling Tournament in Atlantic City to include 112 additional wrestlers, as well as the partnership with Special Olympics to include Unified Sports programs in certain sports both at the school- and state-tournament level,” Timko said. “Our ability to control expenses and add to our reserve levels during the past two years has enabled us to undertake these new initiatives and better serve our student-athletes.”
New Jersey has the largest variety of championship tournaments offered by any state’s scholastic athletic association.
