The Werribee Football Club is pleased to announce is has recorded a profit for a 14th consecutive year.
The club has delivered a profit of $339,646 for the year ended October 31, 2017 from a total revenue of $9.8 million.
The impressive financial result comes in spite of a year that saw the club without a home venue due to the redevelopment of Avalon Airport Oval.
Werribee CEO Mark Penaluna acknowledged the work of his staff and the support of the club's off-field partners in producing another commercially successful year despite the difficulties faced.
"It is fantastic we have been able to build on our sustained financial success through what has been very challenging 15 months," Penaluna said.
"That we have done so is a testament to the work of our staff and the commitment of our sponsors, the vast majority of which have stayed loyal throughout 2017 despite limited opportunities for game-day exposure."
Penaluna cautioned that Werribee's move to go standalone would pose some financial challenges going forward but that the club was now in a strong position to meet those challenges head on.
"The North Melbourne Football Club has provided us with crucial financial support throughout our alignment years, and we are incredibly grateful for having benefited from this," he said.
"The challenge for us now is to meet that shortfall, but we are confident our targeted membership campaign and pursuit of alternative revenue streams - notably our redeveloped Chirnsides by the River function and events space - will allow us to do so."
The financial report was delivered at Monday night's Annual General Meeting, which saw a number of other important developments for the club.
President Martin Carter was elected unopposed for what will be his third full year at the helm of the Werribee board, declaring 2017 a year of "unprecedented change" for the club that it can now look to build from.
"Not many clubs in the history of the game - if any - have faced the breadth of change we did on and off the field while remaining stable, solvent, and competitive," Carter said.
"Our success can't be measured simply in the games won or the profit generated; our success is the people we have in place, the pathway we are following, and our vision for the future."
2017 vice president Ian Hovey and treasurer David Lyons were re-elected as board members on two-years terms, while Samantha Hunter was re-elected as a board member on a one-year term.
Excitingly, the club was also able to confirm March 19 as the revised occupancy date for its redeveloped training and administration facility, ensuring the playing group and coaching and administrative staff will be well and truly settled in ahead of the first home game on April 14.
Penaluna said it was an incredibly exciting development for the club and paid tribute to the Werribee staff and board for their assistance with the project.
"The question of when we are moving in is the one I have been asked the most over the last year, so it is great that there has been so much interest around town and that we now have an end date in sight," Penaluna said.
"The project management work of football manager Stuart Balloch and board member Roland Brohaska has been exceptional through this process, as has the work of vice president Ian Hovey in attending council and subcommittee meetings, so I must thank them all for their contributions."