Triathlon New Zealand Annual Report 2025 - Flipbook - Page 47
Notes to the Performance Report
2025
2024
5. Accumulated Funds
Surplus/(Deficit)
Transfer to/(from) restricted reserve - Tokyo - High Performance
Transfer to/(from) discretionary reserve - Tri Series NZ - World Triathlon Events
(93,798)
(166,262)
-
(126,016)
244,544
-
Retained Earnings
394,356
686,634
Total Accumulated Funds
545,102
394,356
Nature and Purpose
Tokyo - High Performance
At the end of 2023, 2 years into the High Performance Sport New Zealand contract, Triathlon NZ had an underspend of $126,016
related to Tokyo Olympic Campaign. In the final year of the contract, this underspend was fully utilised to help deliver the Paris
Olympics and other significant projects undertaken by Triathlon NZ. Underspends and overspends within 4 year cycles are to be
expected. Because the HPSNZ contract has specific expectations over the use of funding, any years in which there is an
underspend will be recorded as deferred revenue and presented as a Restricted Reserve within Accumulated Funds, with the
intention of fully utilising that underspend by the end of that triennial contract.
Tri Series NZ - World Triathlon Events
In 2025, Triathlon NZ secured a three-year partnership with World Triathlon that sees Tauranga host a World Triathlon Cup in
2026, a World Triathlon Championship Series race in 2027, and the World Triathlon Championship Series Grand Final, Age Group
World Championship, and Paratriathlon World Championships in November 2028, events that will see significant economic
impact and global exposure for the region and country. As these events are material and cross over a 3 year period with
significant contracts in place alongside event partners the Ministry of Business, Innovation and Employment (MBIE), Tauranga
City Council (TCC), and World Triathlon, Triathlon NZ will show any retained earnings from these events up 2028 as separate
reserves since they are separate to the core operations of Triathlon NZ.
2025
2024
6. Deferred Revenue: Unused Significant Donations, Grants or Bequests with Documented Expectations over Use
Income in Advance
45,457
51,223
Total Deferred Revenue: Unused Significant Donations, Grants or Bequests with Documented
Expectations over Use
45,457
51,223
2025
2024
46,543
41,605
7. Commitments - Leases
No later than one year
Later than one year and no later than five years
58,313
62,158
Total Commitments - Leases
104,856
103,763
8. Contingent Liabilities and Guarantees
There are no contingent liabilities or guarantees as at 31 December 2025 (31 December 2024: $nil).
Performance Report
Triathlon New Zealand Incorporated
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