independent

Friday 20 July 2018

Secretary's warning on finances in report

Margaret Doyle
Margaret Doyle

Brendan Furlong

Wexford G.A.A. Secretary, Margaret Doyle, has warned clubs of the surplus required to maintain their loan and lease agreement together with future developments and team costs.

In her annual report, Ms Doyle outlined that while they are showing a surplus of €182,380 for 2017 she warned that this is not money in the bank.

To maintain their loan and lease agreements together with future developments and team costs a surplus each year of a minimum of €250,000 is required, she added.

The surplus this year came on a turnover of €3,026,116 compared to €2,843,736 the previous year when 2016 showed a surplus of €260,000 approximately.

Gate receipts showed a meagre increase of €134 going from €473,858 in 2016 to €473,992 this year, while the run of Davy Fitzgerald's Wexford senior hurling team to the semi-final saw National League receipts increase by €75,000, with the Davy factor also contributing handsomely to the commercial income, as O'Neill's Sportswear income soared from €111,276 in 2016 top €140.498 in 2017, while rent received also increased from €52,391 to €89,735 this year, with a major contributory factor being the home Wexford/Kilkenny Leinster Championship game.

The spend on inter-county teams amounted to €945,224 an increase of €250,000.

The sole contribution of the senior footballers was an income of €34,310 from this year's national league, despite reaching the Division 4 final, down from €39,676 last year.

This is in stark contrast to the senior hurlers who apart from their contribution as already mentioned, also contributed handsomely through Club Wexford, which more than offset their increased spend in earning promotion to Division 1A and qualifying for the Leinster final, while the profile of the senior hurlers also contributed hugely to numbers at the Summer Camps.

While the increased mileage rate for both senior squads as agreed through Croke Park and the GPA showed players travelling expenses of €217,113 compared to €150,638, under the agreement €55,526 was recouped under Player Travel Expenses from Central Council.

Under Current Liabilities, Creditors showed a startling increase of €90,000 approximately rising from €502,824 in 2016 to €593,137 this year. Debtors stood at €154,691 up from €138,627 last year.

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