Daylesford’s ChillOut Festival has posted a financial loss for the last financial year, with bad weather blamed for driving down numbers at this year’s event.

The festival declared the loss at the August 17 annual general meeting and also elected a new festival president, Michael Brady, who will take over from Bendigo-based Adam Wright.

“Despite low turnout at this year’s festival due to the unprecedented wet weather, we’ve managed to restrict our financial loss for the year to just under $6000,” Brady said in a statement.

“Obviously any loss depletes our financial resources, but we are in a workable position to take the festival forward next year, and we know the community will rally to support us next year.”

The 2010 festival weekend was one of the wettest ChillOuts yet, with heavy rain and hailstorms across Victoria, and Melbourne experiencing flash flooding.

Wright, who did not seek re-election, welcomed Brady’s appointment.

“Being president of ChillOut has been a tremendous experience, but the time has come for me to focus on other commitments,” Wright said. “Michael is a passionate and committed supporter of ChillOut and a member of our committee for many years.”

ChillOut media spokesman Paul Kidd told Sydney Star Observer the financial loss of $5915.97 was unlikely to hit the hip pocket of festival-goers.

“We are trying to build our cash reserves over time … but ticket prices will more or less be kept the same.”

Planning is now underway for the 2011 festival to be held from March 11 – 14.

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