It’s not too long ago that reporting a loss of over $400,000 would be a big red flag for the Moose Jaw Warriors, but that’s not the case.

At the Warriors’ annual general meeting on Wednesday, the team reported a profit loss of $463,566, but the came after contributing over $700,000 to Mosaic Place through the organization’s pledge and arena upgrades.

The team’s overall net revenue was $267,631 for the 2016-17 season, which included $138,296 from the 2017 WHL Playoffs.

“We had a good operating profit for the year, we only have four more years to go on our pledge, so that’s in the sights to being wrapped up before we know it, but the club had a good bank balance and if we’re going to do something with that money, we might as well reinvest in our own franchise,” said Chad Taylor, the Warriors’ team president, who was re-elected for a three-year term on Wednesday.

After the loss, the Warriors still have $1,081,545 in the bank, in addition to $112,106 in the team’s Legacy Fund and $282,033 in the Education Fund.

The Warriors installed lighting and sound system upgrades to Mosaic Place prior to last season. The team decided to pay-off that investment in one year rather than spread it out over the course of the next few years.

“We had the money to do it, so what better investment for our fan experience and our players. I just love the new look, it adds another touch to our home facility and when you can do that, it’s a win-win for everybody,” said Taylor.

Through the arena upgrades, the multiplex pledge and revenue sharing, the Warriors contributed over $1.2-million to Mosaic Place and the City of Moose Jaw in 2016-17.

The Warriors have now contributed $1.7-million in the six years of their 10-year pledge for the construction of the downtown facility.

General Manager Alan Millar said it’s important for the team work as partners with the community that they call home.

“Although we show a loss this year, there’s a significant investment and partnership in the community and when you look at the balance sheet, the team is in very good shape,” he said.

“This isn’t private ownership, this a community owned team that had a mandate and a passion to put back into the City of Moose Jaw and we have a partner in Mosaic Place, which gives us a lot of advantages as a WHL franchise by playing in this great facility.”

The fact that the Warriors are able to withstand a loss and still call it a good year shows how far the organization has come financially over the past decade.

“I’ve been on the board when the times were tough, but the last 8-10 years we’ve really turned the corner,” said Taylor. “This club has come a long way and met every challenge head on and if it wasn’t for the community and the support they provide, we’d never be able to get there.”

The Booster Club continues to play a big part in the Warriors’ success as it has over the past 30+ seasons. The 2016-17 season was the second-best in the Booster Club’s history as they were able to raise $257,487 through the 50/50, lucky seat draw and much more.

The Warriors’ Education Fund also received a big boost from another successful alumni golf tournament this summer that raised over $107,000.

The Warriors will open the 2017-18 regular season on Friday in Prince Albert and then they host the Raiders on Saturday.