Financial Report: MFA registers profit amounting to €670,132

The Audited Accounts and Balance Sheet of the Malta Football Association were presented during the Annual General Meeting of the Malta Football Association on Saturday. The association’s income for the year ending 31st May 2010 amounted to €5,522,379 while the expenditure amounted to €4,875,679.

Considering an unrealised gain on exchange which amounted to €23,432, the profit, or better the surplus of revenue over costs, amounted to €670,132. At the end of season 2008/09, the excess of income over expenditure amounted to €380,671.

The Accumulated fund at the end of the year therefore amounts to €4,982,927.

STATEMENT OF FINANCIAL POSITION (Balance Sheet)

Assets
Non-Current Assets €10,089,089
Current Assets €3,263,618
Total Assets €13,352,707

Equity & Liabilities

Equity – Accumulated Fund €4,982,927
Non-Current Liabilities €6,736,220
Current Liabilities €1,633,560
Total Equity and Liabilities €13,352,707

DETAILED INCOME STATEMENT
Administration

Revenue: €3,445,055 (€3,229,763 in 2008/09)
(including local matches €45,434; FIFA and UEFA subsidy and refunds €1,987,879; MFA project – Member Clubs and Member Associations facilities fund €1,105,352; sponsorships €84,599; disciplinary fines – club fines and damages €20,738; disciplinary fines – others €39,385; affiliation and other fees €36,700; interest receivable €38,007; advertising €43,672; sundry income €43,289).

Costs: €2,525,367 (€2,350,203 in 2008/09)
(including salaries €221,495; MFA officials’ allowances €75,605; foreign officials’ expenses €17,605; referees’ fees €120,172; MFA project – Member Clubs and Member Associations facilities fund €1,513,801; presentations and gifts €19,655; travelling and accommodation €12,474; professional fees €8,345; advertising €20,670; insurance €7,452; printing and stationery €22,972; office maintenance €9,187; telecommunications €27,377; water and electricity €58,175; referees’ training allowance €32,521; audit fees €3,261; awards, ceremonies and refreshments €16,081; bank loan interest and charges €210,047; general expenses €12,152; celebrations National League 100th Anniversary and 50 years of FIFA and UEFA membership €104,061).

Surplus of revenue over costs (following depreciation amounting to €84,490): €919,688
(€889,275 in 2008/09)

Sports Facilities

Revenue: €758,272 (€643,731 in 2008/09)
(including share of gates €212,540; bar concessions €54,00; advertising €52,940; broadcasting rights €30,252; complex income €364,200; car park income €10,322; football school subscriptions €7,462; course fees €25,555).

Costs: €534,221 (€553,461 in 2008/09)
(including wages and personnel expenses €234,108; maintenance €177,163; utility costs €51,221).

Surplus of revenue over costs (following a depreciation amounting to €574,277): €350,226 (€523,185 in 2008/09)

National Teams, Youths and Grassroots Development

Revenue: €1,319,052 (€1,205,871 in 2008/09)
(including international matches €1,318,072 and players’ sponsorships €980) .

Costs: €1,157,324 (€1,082,674 in 2008/09)
(includes players’ training allowance €54,051; bonuses and appearance money €28,569; travelling and accommodation for national teams €522,948; kits and training equipment €51,359; technical staff €390,438; insurance and medical €39,816; advertising €3,490).

Surplus of revenue over costs: €161,728 (€113,482 in 2008/09)

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