New Mardi Gras (NMG) will report a season loss of between $130K and $140Kto its members this week.
While significantly smaller than last year’s $575K catastrophe, co-chair Pete Urmson (pictured) is remaining optimistic.
“Quite simply, not enough people bought tickets to our parties,” Urmson said. “We have had to look at the reasons for that and have developed strategies that will broaden the organisation’s revenue potential and set down roots for the future.”
Members will get to vote on the board’s performance at the August 6 AGM. Those wanting to nominate for positions have until 5pm this Friday to lodge the necessary paperwork.
The Star Observer understands the annual report was delayed due to conflict between board members over aspects of the company’s finances.
Urmson said the reporting process had been challenging and there had been spirited discussion over some issues, but board members were working to resolve their differences.
“We are all very passionate about our role as board members, and sometimes that leads to differences of opinion,” he said. “But the auditor and the board have now signed off on the report.”
Urmson said the board had agreed on a raft of structural changes to better position the organisation for the future.
“We have learned some very significant lessons from the last two seasons as an organisation and have started putting in place a series of strategies to shore up the future of the company,” he said.
Those strategies include previously reported changes in the board’s control of NMG events; creating sub-committees to share responsibility; seeking deductible gift recipient status (DGR) from the government; protecting the company’s intellectual property rights; and greater interaction with members.
INFO: The NMG AGM is at 1pm on Saturday, August 6 at the new ACON offices, 414 Elizabeth St, Surry Hills.