The Malta Football Association reported an income of €7,445,097 during season 2013/14. This emerged from the presentation of the Audited Accounts and Balance Sheet of the association by MFA Honorary Treasurer Ivan Mizzi during the Annual General Meeting which was held on Tuesday.
Income from the Administrative sector decreased from €4.2 million the previous year to €2.6 million as the association had received €1 million from the UEFA HatTrick Investment Programme and €0.5 million from the UEFA Grassroots Charter last year. Expenditure, on the other hand, was more or less the same – €1.6 million this year compared to €1.7 last year. The surplus of income over expenditure before depreciation was €977,345.
Income from the National Teams Sector increased considerably from €2.8 million last year to €4.2 million this year mainly due to a contribution of €1.4 million by UEFA for the organisation of the UEFA Under-17 Championship. Expenditure increased by around €0.7 million over the past year from €1.7 million to €2.4 million mainly due to increase of travelling and accomodation from €0.6 million to €1.1 million. The surplus of income over expenditure amounted to €1.8 million.
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Income from the Sports Facilities sector was practically the same while there was a slight reduction in expenditure for an excess of expenditure over income before depreciation of €205,219.
Throughout the past year, the surplus of income over expenditure before finance and other charges amounted to €1.77 million compared to €2.32 million the previous year, while the surplus of income over expenditure after finance charges amounted to €1.63 million compared to €2.5 million the previous year. However during the previous year, the association had registered a profit of €0.3 million on sale of immovable property.
However investment in member clubs’ facilities increased considerably with the association handing €2.8 million and finance costs amounting to €0.44 million although there was a government grant of €1.08 million. Therefore the net investment in clubs’ facilities was €2.2 million, compared to €1.24 the previous year. The excess of expenditure over income was therefore €0.58 million compared to an excess of income over expenditure of €1.26 in 2012/13. The adverse balance carried forward is €1.4 million.
BALANCE SHEET
Assets
Non-Current Assets €10,807,028
Current Assets €4,164,196
Total Assets €14,971,224Equity & Liabilities
Equity (€1,404,165)
Non-Current Liabilities €13,040,498
Current Liabilities €3,334,891
Total Equity & Liabilities €14,971,224
INCOME AND EXPENDITURE
ADMINISTRATION
Income €2,613,693 (including €368K from FIFA Financial Assistance Programme, €1.34 million from UEFA HatTrick Annual Solidarity, €130K from UEFA Referee Convention, €310K from UEFA and €219K from sponsorships)
Expenditure €1,636,348 (including €528K for salaries, €105K for ground rental assistance, €324K for referees fees for member clubs and member associations and €163 for referees convention expenses)Surplus of income over expenditure before depreciation €997,345
Depreciation €175,747
Surplus of income over expenditure €801,598SPORTS FACILITIES
Income €589,055 (including €385K from complex income)
Expenditure €794,274 (including €341K for wages and €265K for maintenance)Excess of expenditure over income before depreciation €205,219
Depreciation €638,178
Excess of expenditure over income €843,397NATIONAL TEAMS, YOUTH AND GRASSROOTS DEVELOPMENT
Income €4,242,349 (including €2.7 million from international matches, €1.4 from UEFA for Under-17 Championship and €135K from sponsorships)
Expenditure €2,428,427 (including €160K for bonuses and apprearance money, €1.15 million for travelling and accomodation of national teams, €0.743 million for technical staff)Surplus of income over expenditure €1,813,922