FOLLOWING THE startling financial revelations of 2011 that rocked the G.A.A. in the county, last night's Convention saw a dramatic turnaround in fortunes.
While the county's financial situation has changed dramatically, there is still a considerable road ahead of the Association before it gets back on a firm financial footing.
The operating surplus for the year was €118,056 compared to a deficit of €21,473 in 2011. When extraordinary items are taken into account, totalling €118,283 - which includes a revenue settlement of €30,479, grants received of €150,000 from Croke Park for the Ferns development and a National Lottery grant of €159,858 - the nett surplus for the year comes in at €309,631 compared to €90,285 for 2011.
Income for the year is up by almost €100,000 which is helped by an increase in gate receipts of €64,000, a truly remarkable figure when other counties are reporting a drop along with huge deficits. The gate receipts includes sale of season tickets which brought in €18,012. While commercial income was some €42,000 down on 2011, this can be explained by some sponsorship showing a deficit figure.
Of quite some significance was the huge improvement in fundraising activities bringing an increase of over €110,000. The income for fundraising for 2012 was €382,300 compared to €271,698 the previous year.
While the Model County Development Draw showed a drop of some €14,000, the Wexford Supporters' Branch contribution increased to €80,040 from €18,744, while the Dublin Supporters' Branch which showed a nil contribution for 2011 came to €47,780 for this year. The boxing night was a resounding success, bringing in the remarkable sum of €34,251.
While other income was €274,385, programme sales dropped remarkably from €58,375 in 2011 to €30,705 this year, an area that will come under consideration for 2013 where huge improvements can be forthcoming.
Teams' expenses came to €663,762 for 2012 compared to €632,467 for the previous year, an increase of €30,000 approximately.
Administration expenses showed a drop of €110,000 approximately, dropping from €383,972 in 2011 to €270,463 this year. Staff costs reduced from €201,609 in 2011 to €130,300 in 2012, while printing, stationery and advertising dropped from €70,583 in 2011 to €56,452 in 2012.
Current assets stand at €496,811, with €324,050 in the bank, while debtors have decreased from €352,546 in 2011 to €169,131 in 2012. Current liabilities show a figure of €734,112, leaving nett current liabilities of €237,301 compared to €352,553 in 2011.