Tipp proud to report a profit
Published 17/12/2015 | 02:30
Tipperary GAA officials will tonight report a financial profit for a third successive year, despite increased spending on the preparation of intercounty teams and the repayment of €300,000 in various loans.
Audited figures presented to a special county board meeting in early 2013 confirmed a deficit of almost €250,000 for the previous year but since then, Premier County top brass have turned the situation around.
Loans totalling €200,000 from the four divisional boards in the county have been paid back, and €100,000 has been repaid to Croke Park.
County board secretary Tim Floyd told Tipp FM: "We borrowed from the divisions three years ago but during this year, we paid them all back in full.
"We have a loan from Croke Park which we're paying off on average €100,000 a year. So we've achieved a surplus by paying back €300,000 in loans.
"The only loan we really have is a development loan from Croke Park.
"We have no other loans and at the moment, we're not in an overdraft situation."
Floyd revealed that the outstanding balance due to Croke Park is now less than €300,000, and that Tipp officials would be in a position to access central funding again if the need arose.