Saturday 17 February 2018

Waterford warned over finances

Jackie Cahill

WATERFORD GAA secretary Timmy O'Keeffe has warned that management of county board finances remains a "serious challenge" as Deise accounts have revealed a deficit of €120,430 for the financial year.

The shortfall has been revealed by independent auditors, with income of €1,313,268 exceeded by expenditure of €1,433,698 for 2011.

The deficit compares to €94,000 last year but that figure included an exceptional item of €75,000 and legal proceedings have commenced to secure those funds from the estate of the debtor.

The overall cost of preparing Waterford's various inter-county teams has dropped by over €20,000, down from €673,013 in 2010 to €652,635 this year.

The cost of preparing the senior hurlers was €251,391, down from the 2010 figure of €283,746.

The money pumped into the senior football team remained steady, coming in at €150,027, compared to last year's €150,506.

Waterford's minor hurling team reached this year's All-Ireland semi-final and cost over €50,000 to run, while over €32,000 was splashed out on the U-21 hurlers.

Worryingly, gate receipts from local matches dropped by almost 25pc, from €201,598 to €153,530 this year. Commercial income is also down by some €30,000, but fundraising activities remained steady, totalling just over €69,000.

Writing in his report to annual convention, O'Keeffe reflected: "The management of the finances of the board continue to be a serious challenge for the county.

"Tight control must be kept over all expenditure, whether it is in administration or team preparation. In the economic climate, raising additional finance is a major challenge.

"However, if we are to remain competitive at inter-county level, particularly in hurling, we must continue to prepare our teams to the highest standards. We need to identify new streams of income."

Irish Independent

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