World Triathlon has reported a modest $119,000 (£89,000/€100,000) profit for 2019 on revenue of just over $8 million (£6 million/€6.6 million).
Financial income of more than $700,000 (£533,000/€592,000) was enough to overturn an operating deficit approaching $500,000 (£381,000/€423,000).
The accounts are included in papers circulated ahead of the governing body’s virtual Congress on November 29.
A message from the Executive Board confirms that World Triathlon expects a loss for the current financial year which "will be covered by the reserve funds built up during the last eight years."
Insidethegames reported in May that the then International Triathlon Union was expecting a loss of up to $1.4 million (£1.05 million/€1.18 million) in 2020 – a year in which, owing to the pandemic, 90 per cent of the governing body’s activities are said to have been postponed.
The papers include a proposed budget for 2021 under two scenarios – a) normality and b) the Tokyo Games go ahead but only half scheduled World Triathlon events proceed.
Both foresee a positive result, but under the disrupted scenario, total income would fall to $7.87 million (£5.9 million/€6.5 million), compared with $11.16 million (£8.4 million/€9.3 million) if the full calendar can be implemented.
Both versions of the 2021 budget foresee income of just under $4.6 million (£3.45 million/€3.89 million) arising from the sport’s place on the Olympic programme.
Under the second scenario, this would be the equivalent of 58 per cent of the expected total.
The accounts put total assets at the end of 2019 at $10.35 million (£7.8 million/€8.6 million), of which $4.4 million (£3.3 million/€3.72 million) is cash and $5.37 million (£4 million/€4.5 million) short-term investments.
This compared with total assets of just over $13 million (£9.91 million/€11 million) a year earlier.
The body generated $1.1 million (£838,000/€931,000) from sponsorships in 2019 and $2.37 million (£1.78 million/€2 million) from TV and event fees.
The President’s “honorarium” for the year is put at $208,765 (£156,574/€173,275) .
Incumbent President Marisol Casado is seeking a fourth term at the helm at the upcoming Congress.
She is being opposed by Mads Freund of Denmark.