It also inducted two new life and five new honorary members at its 147th annual meeting earlier this week.
The association reported a $56,577 surplus for the term, which follows a surplus of $85,134 for the previous financial year.
Otago Cricket Association chief executive Mike Coggan said the result was a nice boost.
"It is pleasing to continue to deliver surpluses while we continue to invest appropriately in both community and performance cricket," he said in a statement.
"Our cash reserves now exceed $500,000 and these funds will be needed to support part of the $2million build of our cricket facility at Tonga Park.
"Having appropriate levels of working capital is fundamental to the success of this priority project."
Outgoing chairman Shane Robinson and outgoing board director Rob Lawson were made life members for their service.
Both men served on the board for nine years and also played for the province.
Robinson said he had seen "monumental growth across all areas" in the nine years he had been on the board.
"It has been a pleasure and privilege to lead the board over the past three years," he said.
"Both our performance and community programmes are as strong as anywhere in New Zealand.
"We have very young and talented female and male players now starting to perform at domestic level. However, it is going to take more time for these players to build experience to be able to perform consistently and at their potential.
"I am certain Otago will see more male and female players earning national honours over the next two to three seasons."
Honorary memberships were presented to Mark Bracewell, Allan Faithful, James Lovelock, Adam Gain and John Henderson for their service to the association and the sport.
Russell Mawhinney will take over as chairman.
Former Black Caps manager Mike Sandle and former Otago seam bowler Mat Harvie were appointed to the board.
