Australian Karting Association Ltd 2018 Annual Report Released

(James McMahon) #1

A press release from: Karting Australia
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Australian Karting Association Ltd (Karting Australia) today released the 2018 Annual Report covering its fifth full year of operation since restructuring as a Company Limited by Guarantee.

The 67-page report outlines the progress made by Karting Australia and the challenges faced throughout 2018.

Highlights include:

  • The increased focus on Clubs and Grassroots karting including:
  • The introduction of 4SS karting – the first Club level only Class introduced into Australian karting for many years;
  • Introduction of the SP Tools Club Driver Rankings program with Australian karting’s largest ever prize pool;
  • Initiating the Plus 1 Project leading to the Building Better Kart Clubs program and conference series;
  • A retained surplus in excess of $2 million for the third consecutive year;
  • Exceeding revenue targets for the fifth successive year;
  • Increased sponsorship revenue;
  • More than $550,000 of AKA’s total ordinary expenditure was spent on development of the sport, to the direct benefit of:
  • State Association assistance programs;
  • Building Better Kart Clubs programs;
  • AKC host Clubs revenue share;
  • State Championship support;
  • Development and new participant attraction programs;
  • Grants programs;
  • Continuation of the highly successful Junior Sprockets development program.

The report also highlights the challenges and extraordinary costs incurred as a direct result of the issues that arose in New South Wales karting during the year.

To view the 2018 Annual Report please click here.