Thursday 23 November 2017

Finances stay on track

Brendan Furlong

Club delegates will be informed at next Tuesday night's annual G.A.A. Convention that the county's finances are still very much on track.

While the operating surplus for 2015 will show a drop to €112,186 compared to €208,861 last year, this can be attributed to an increase in funding for development squads and inter-county teams, while there was also considerable expenditure on the completion of the Ferns Centre of Excellence.

In what can be described as a very strong performance in 2015, the nett surplus comes in at €821,375 compared to €482,695 in 2014.

Income for the year also shows an increase to €2,317,628 compared to €2,057,972 in 2014, with expenditure rising to €2,205,442 compared to €1,849,111.

The grants owed and drawn down for the Ferns Centre of Excellence amounted to €709,189, which does not include the €200,000 Government Capital Sports Grant.

While the full financial report will be available for county Convention, the one alarming aspect of the accounts is the drop in gate receipts which could amount to more than €40,000.

This is the first such drop for some considerable time, and goes against the trend of other counties, particularly Kildare who showed an increase in gate receipts of some €70,000.

Given the base from which the County Chairman, Diarmuid Devereux, started out from some four years ago on his election, the finances have shown a dramatic turnaround, but there is still some considerable work to be undertaken in his final year in office to achieve his ultimate goal.

During that period Wexford G.A.A. has managed to clear the debt on Wexford Park, while also financing the restructuring of inter-county teams, leading to provincial success at Under-21 hurling, Intermediate hurling and Junior football, while also bringing the county out of the Senior hurling doldrums.

Despite the promising figures, the county is still dealing with the Glenbrien land loss, the Ferns land transactions and the resulting High Court award against the Association in the county.

That leaves a figure of some €200,000 in total still holding the finances back from a position which the management committee would like to see them.

It's expected that delegates will express alarm with the drop in gate receipts and will be seeking answers in an effort to try to improve the situation for 2016.

While gate receipts for the hurling final showed a drop compared to 2014, the football final receipts brought a welcome increase, but that was still unable to offset the alarming drop which is sure to occupy much attention when delegates gather for their annual review in the Riverside Park Hotel in Enniscorthy.

Wexford People

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