WA Football Commission chairman Frank Cooper has played down the significance of a loss of almost $4 million for the WAFC in 2011 as it prepares to write down the value of Patersons Stadium ahead of a change to a new major stadium.
The WAFC recorded a $3.934 million loss on its books, a figure Cooper said was the direct result of the commission's decision to depreciate its old stadium over the next six years ahead of the expected change to the proposed new major stadium at Burswood in either 2017 or 2018.
Losses could be expected on the books over the coming years for the same reason but it would not affect the WAFC's overall financial position, Cooper said.
"We made a decision," he said.
"The question of the value of the stadium has been on our mind with the possibility of the new stadium coming up. While we don't have to do it yet because no contracts have been signed it is sensible to amortise the remaining value over the next few years until 2017.
"It is a non-cash item because (Patersons) Stadium has been paid for."
Cooper said an extra $4 million was allocated to stadium depreciation as part of the strategy, blowing facility expenses out from $7 million to more than $11 million, turning what would have been a $400,000 profit into a $3.9 million loss.
"Beyond that it was pretty much a standard year," he said.
Cooper said 2011 had been satisfactory financially for the commission despite the absence of any end-of-year major concerts which were a money spinner in recent years.
"We don't budget on getting a concert but getting one always helps us do a few things," he said.
He said the WAFC had "pencil bookings" for concerts later this year but would not reveal details at this point because similar tentative bookings last year had not come off.
Overall attendance at Patersons Stadium dropped from 1.1 million in 2010 to 928,000 in 2011 because of the absence of concerts but home-and-away AFL attendances had risen from 786,000 to 792,000.Cooper warned that maintaining financial stability in the industry would continue to be tough.
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