The $243,338 deficit, the association's third in five years, came despite Canterbury continuing to field one of the most successful provincial sides in New Zealand.

``We set ourselves some high targets concerning sponsorship, especially in our various membership schemes,'' Kerry Dellaca, the outgoing Canterbury Cricket chairman said yesterday.

``Although preliminary indications were favourable, the deteriorating financial climate meant some companies and individuals did not take sponsorship packages. ``We were about $100,000 under budget in this area,'' he said.

The deficit was substantially larger than Canterbury's previous worst result, a $73,000 loss in 1993-94.

Unresolved compensation claims over Canterbury's aborted match against Northern Districts last season, when the Lancaster Park wicket was left uncovered, also impacted on the large loss.

Chief executive Tony Murdoch said the game's cancellation, between the country's two top teams with their New Zealand players available, cost the association somewhere between $25,000 and $40,000 in gate receipts.

He said yesterday that he hoped the matter would be resolved within the next fort- night.

Several games also had to be removed from the association's premier ground.

``This did not only mean a drop in attendances, but also extra costs were associated with moving the matches.''

Dellaca said an increase in ground rental at Jade Stadium (Lancaster Park) and the added cost of playing under lights also increased expenditure.

Other factors which contributed to the bad result included:

The absence of New Zealand players for much of the Shell Cup season playing in Australia; and

The fleeting visit of Australia and of the lowly ranked Zimbabwe team making for a weak international calendar.

``The undulating cycle of the CCA's recent financial performances has mirrored the somewhat erratic planning for previous domestic and international seasons,'' Dellaca said.

Murdoch said future international tours were all but confirmed for the next four years, including visits by drawcards India and South African this summer and the West Indies and Australia the following season.

This would help future planning.

Dellaca said Canterbury had what it believed was the best player payment scheme in the country, enabling it to retain talented players.

However, the payments to retain New Zealand players Stephen Fleming, Chris Cairns, and Nathan Astle, who at the end of the previous season were considering playing elsewhere, were not documented.

Dellaca said some salient lessons had been learned from the past year and steps had been taken to ensure the large deficits would not be repeated.

``Board and management structures have already been overhauled in keeping with our long-term strategic plan.

``The scale of cricket grows at an increasing pace ... but our costs have risen at a greater pace.''

The deficit would not lead to a levy on clubs this season, said Murdoch.

Meanwhile, Dellaca will step down from the Canterbury board at next week's annual meeting having become financial controller at New Zealand Cricket.

Also standing down will be a former chair- man, Arthur Graves, who is now based in Greymouth.