Adelaide has reported an operating surplus of $1,068,723 million for 2005 after paying the SANFL $450,000 as part of the club's sub-licence agreement.It is the 13th consecutive year Adelaide has produced a surplus of more than $1 million before the SANFL distribution."It is a strong surplus on the back of a much-improved on-field season," Adelaide chairman Bill Sanders said at the club's annual general meeting on Tuesday night."Since 1991, the club's surpluses have led to a distribution of exactly $14,091,621 to the SANFL, giving a huge boost to game development in this state."At the same time as paying off the AFL licence fee and establishment costs and providing SANFL distributions through the past 15 years, the club has been able to develop leading-edge facilities and a coaching and staff group of the highest order."In the process, the club has established an asset base nearing $10 million, providing a very strong foundation for the future."Retiring directors Peter Hurley and John Sutton are seeking re-election to the two vacancies on Adelaide's board, and three nominations from the membership base - those of Lindsay Blight and Noel Kennedy (both gold members) and Brett Slade (Victorian team sponsor) - also have been forwarded to the SA Football Commission for consideration for appointment to the board.The SA Football Commission will make the appointments within days.