The Yukon Quest is slowly digging its way out of a hole of debt. The 2016 edition of the race posted a more than $36,000 surplus.

Last night members of the board and executive director Natalie Haltrich addressed an audience of about 20 at the Quest’s Yukon annual general meeting at the Kwanlin Dün Cultural Centre.

The Alaska organization also held their AGM yesterday in Fairbanks.

“The best thing now is we know it’s possible,” said Haltrich, who stepped into the executive director role last July.

“We’re still working with a bit of a debt, but I know it’s possible and that’s so uplifting.”

The 2015 edition of the race posted a $51,423 deficit and left some concern over the ability of the race to produce a sizable enough prize purse. The 2016 guaranteed prize purse was $115,000, which is split among the top finishers.

The Yukon Quest generated almost $50,000 more revenue in 2016 than the previous year. They saw a dramatic increase in fundraising and merchandise sales, up to $150,469 from $121,767 and donations, up by almost $10,000.

Halt­rich said that this year the Quest lost the sponsorship of Northwestel, which they had not budgeted for and paid nearly $7,000 for phone and internet services on the trail this year.

In his remarks, president Michael Peterson said that the mandatory rest in Dawson City was likely to stay at 36 hours in 2017.

He commended the five Canadian finishers in 2016.

There is hope to have even more mushers on the start line in 2017.

“I’d love to have 35 mushers at the start,” said Haltrich.

She said that with nine checkpoints in 1,000 miles that it’s a hard race, but that it’s not as daunting as numbers might suggest.

“I don’t think it’s unrealistic because we haven’t given it due effort yet,” she said.

Preparations for the 2017 Yukon Quest remain underway. The race will start in Whitehorse.