The Merritt Centennials welcomed a handful of new directors and bid farewell to two longtime board members at the club's annual general meeting at the Merritt Culture Club June 6.

Vice-president Tom Reynolds and secretary Cathy Frizzell stepped down from their positions. Heather Fader took over as secretary, while the vice-president post remains vacant. Frizzell had served on the board for the last seven years.

Director-at-large Tod Dean and co-marketing director Scott Howstrawser decided to step down as well.

Centennials president Jerry Canuel stayed on for a fourth term, as did treasurer Beth Nadeau.

Director of hockey operations Brian Barrett, Centennials Booster Club president Betty Doberstein, director of security Neil Menard, co-marketing director Paul Barnes, and directors-at-large Andrea Barnes and Frank Etchart also stayed on for another term.

Joining the board for the 2012-13 term are Karen Webster, already responsible for season ticket sales, and directors-at-large Steve Rose and Dave McCauley.

Canuel thanked the outgoing directors for their contributions to the Centennials at the meeting and in a statement from the club.

"The work that Tom, Cathy, Tod and Scott did as board members was invaluable to our organization and I thank them wholeheartedly for their dedication, time, and effort," he said.

As one of his final tasks on the board, Reynolds delivered a financial report for the club's 2011-12 year.

According to the report, the Centennials lost $46,200 between June 1, 2011 and May 31, 2012.

Total expenses added up to $451,838 while the total annual revenue was $405,639. The Centennials had budgeted for $439,000 in revenue for 2011-12.

Reynolds stressed the importance of watching the Centennials' cash flow in the future.

"The house at the lake was sold," said Reynolds, referring to a property on Nicola Lake that the club had owned. "That ended some serious cash drains on us."

However, because the house was sold, the Centennials lost their line of credit and needed a cash injection during the last season, he said.

Webster said a total of 300 season tickets were sold in 2011-12, considerably more than the 250 minimum specified by Centennials policy, but 29 fewer than the number sold the season before. She noted that sales for seniors' and children's season tickets increased, but adult and minor hockey sales dropped.

The goal for 2012-13 is to sell 300 season tickets again, said Webster.

Webster added that the Share Your Cents promotion would continue next season. Under Share Your Cents, season ticket holders can receive a $50 discount on their purchase for the following season if they refer someone else to buy a season ticket.