independent

Sunday 21 September 2014

Financial deficit is turned around

Sean Wall

Published 27/11/2013 | 05:28

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THERE should be an air of optimism at next Monday night's Meath County Convention in the Navan O'Mahony's centre (7pm) following a dramatic turnaround in the financial fortunes of the board over the past 12 months.

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Treasurer Brendan Dempsey, who will be returned unopposed to serve a second year, will report a surplus for the year of €16,676, compared to a deficit of €180,801 for 2012.

A new chairman and treasurer elected at last year's convention has seen a significant tightening-up in financial affairs and that has been rewarded, with the board now back on a much more solid footing.

The biggest improvement came from gate receipts, despite admission prices being dropped to €5 for the group stages of the various championships.

Gate receipts realised €381,240, a massive jump, compared to €246,872 in 2012. Broken down the figures reveal a total of €307,869 for football and €71,371 for hurling.

With Meath operating in Division three of the NFL the share from the national league was almost halved, from €43,977 in 2012 to €22,732 for this year.

On the expenditure side team expenses dropped by over €50,000 to €430,431. The biggest savings in this area came from a drop in travelling and catering expenses to the tune of over €80,000, while 'coaching services' - which cost €15,800 in 2012 - didn't incur a fee in the year gone by.

Sponsorship of county teams rose to €137,500 compared to €110,000 in 2012. However, sponsorship of club competitions and revenue from advertising signs are both down this year.

Administration expenses were up significantly, to €277,944, compared to €242,031 for last year. However the main reason for this is a figure of €93,388 for 'bad and doubtful debts' which the board have had to write off in the year gone by.

The board has managed to cut back on both printing and stationery, and postage and telephone over the past year.

Fundraising activities dropped to €38,741 from €104,146 in 2012. The golf classic which took place earlier in the year brought in €22,289.

That fund-raising figure is set to increase in 2014, starting with the Meath GAA race day in Fairyhouse this Sunday, which has proved to be a sellout.

A number of other initiatives are already in the pipeline for the new year.

Drogheda Independent

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