"Our view is that one of the primary roles as a board is to provide financial stability throughout the region for the benefit and growth of rugby. This will continue to be a focus."
The union also saw its revenue grow by 8 per cent ($4.3 million) from 2012, while reducing expenditure by 3 per cent ($3.7 million).
Complimenting the strong financial result, Mr Roger said the union highlighted a number of positive achievements, which included an increase in volunteer coaches (35 per cent), volunteer referees (43 per cent) and player numbers (11 per cent) since 2009.
"The growth in our game at the community level over the past four years is particularly encouraging.
"We have focused resources in this area of our game and the results show some positive outcomes especially the strong growth in our active referees," Mr Rogers said.
"However, we still have significant work to do in continuing to grow our player participation."
Mr Rogers said volunteer referee and coach numbers were critical for the union.
"So we will continue to focus on developing this area of our game."
The union also announced its plan to establish an endowment fund to provide a fund of capital from which income is guaranteed every year to support community rugby in the Bay.
Clubs, schools and referees would be the primary beneficiaries from the fund. The initiative was aimed at assisting in providing long-term financial stability for rugby in the Bay of Plenty Mr Rogers said.
"Thanks to some very astute management over the past five years, the board has steered the union from the brink of financial ruin to a much stronger position. We must now act prudently and with conviction to escalate the growth in our financial position."
The union also confirmed there were no changes to the board with rugby directors Paul Owen, Mark Canning and independent director Bill Gartshore returned unopposed for a further three-year term.
