Louth enjoy profit after slashing team expenses
LOUTH GAA has reported a profit for the second successive year to cap an amazing turnaround in the county's finances.
In early 2009, former treasurer Aidan Halpin warned that the Wee County was facing financial ruin, but the last two financial reports have shown encouraging profits.
Halpin was faced with an alarming situation in 2007, when he took over as treasurer, as Louth reported a massive deficit of €119,000. But two years later, and just months after issuing his dire warning, Halpin was happy to announce a €20,000 surplus.
Having succeeded Halpin as treasurer, Aidan Berrill has reported a surplus of €8,644 for the 2010 year.
Income fell by over €32,000 in 2010 from last year's figure of €769,270, but that was offset by a drop in expenditure as Louth officials managed to balance the books once again.
In 2009, Louth spent €749,071, and that figure dropped to €728,197 this year. Remarkably, team administration expenses were down considerably, despite the fact that Louth contested in the Leinster SFC final and played Dublin in an All-Ireland qualifier.
In 2009, Louth County Board officials spent over €340,000 on preparing inter-county teams, but that figure dropped to €316,868 this year.
A noteworthy item here under the heading 'team management support staff', shows expenditure of €34,417 in 2010, compared to a much higher total of €80,164 in 2009.
These figures show that team management and support staff expenses have dropped by almost €46,000 during Peter Fitzpatrick's first year at the helm, after he took over from Eamonn McEneaney at the end of the 2009 campaign.
Elsewhere, figures show that Louth's commercial income is down from €181,611 in 2009 to €136,045, but that loss has been offset by club contributions of €33,000 and 'other fundraising activities' totalling €17,705.
Sponsorship of county teams and club competitions dropped by almost €38,000, while sponsorship from kit manufacturers O'Neills fell by €10,000.
In 2009, Louth reported their highest ever figure of €216,495 for local gate receipts, and figures have remained consistent, coming in at €202,665 for the 2010 campaign.