Canterbury Basketball recorded an $82,869 profit for the past financial year, bolstered by a $40,000 grant.
The body continues to lift itself out of the financial mire which beset the organisation in the mid-2000s. The positive result was inflated by the grant from FIBA Oceania, the international federation and New Zealand Basketball Foundation, and the money has been used to build relocatable premises.
"When you consider where we came from in the past five years it's a pretty pleasing result," said chief executive Megan Harlick.
Membership remained strong despite the setbacks of past years, she said. "Even with the earthquakes ruling out stadiums, people still turn up and want to play."
Long-serving board members Peter Dwan and Jane McMeeken stood down, to be replaced by Richard Evans and Jeremy Phillips.
"It was also heartening to see that we had to have an election for the board with four nominees seeking two places."
Meanwhile, Peter Crowhen, whose involvement with the sport in Canterbury goes back to 1963, was accorded life membership.
He is a former Canterbury president and New Zealand president.
- © Fairfax NZ News
Are you going to Cup Day today?Related story: Chanelle set for 'crazy week'