The Audited Accounts and Balance Sheet of the Malta Football Association for season 2014/15 was approved during the Annual General Meeting which was held on Friday at the Westin Dragonara Resort. MFA Honorary Treasurer Ivan Mizzi explained in detail these accounts.
Income at the end of May 2015 amounted to €5,715,241, compared to €7,364,384 last season. Expenditure decreased from €5,221,289 to €4,918,320. The surplus of income over expenditure after finance charges was €628,503, compared to €1,998,105 last season.
The capital contribution with regards to investment in clubs’ infrastructural facilities amounted to €1,296,814, finance costs €432,023 and the excess expenditure on domestic competitions amounted to €549,903 although there was a government grant of €808,636 for a total of €1,470,104 for these other charges.
Therefore the excess of expenditure over income was €841,601. The adverse balance brought forward was €1,404,165 and the adverse balance carried forward for next season is €2,245,766.
In line with UEFA’s drive to help good causes, the MFA took the initiative of the Football Social Responsibility.
The total contributions amounted to €44,620. Stadium entrance contribution amounted to €33,848; UEFA Captains of Change contribution €4,000; contribution from MFA disciplinary and club fines €9,928 for a total of €48,346 From this amount, €3,726 was donated to Goal ghall-Istrina.
Captains of Change is an innovative project launched by UEFA to strive for a more inclusive environment, fostering and further developing diversity within the management of football in Europe.
The budget of the Football Social Responsibilty Fund for next season is as follows:
- Captains of Change €12,000
- Istrina €10,000
- Capital Expenditure (5-a-side pitches) €15,000
- Donations and sponsorships €3,500
- Football for Life – t-shirts, footballs and equipment €3,750
Non Current Assets €10,592,987
Current Assets €3,419,508
Total Assets €14,012,495
EQUITY AND LIABILITIES
Non-Current Liabilities €12,578,517
Current Liabilities €3,679,744
Total Equity and Liabilities €14,012,495
Detailed income and expenditure
With regards to Administration, the income increased from €2,532,980 to €2,994,333 while expenditure increased from €1,184,663 to 1,288,150.
Income increased mainly through income from FIFA (from €386,524 to €918,769) and UEFA Hat-Trick Annual Solidarity (from €1,340,000 to €1,465,000) although there was a decrease in sponsorships (from €219,464 to €82,707). Expenditure increased mainly due to salaries (from €528,920 to €590,740).
The surplus of income over expenditure amounted to €1,459,281 from €1,172,570 last season.
In the Sports Facilities sector, there were only slight differences from last season. Income increased from €589,055 to €647,318 while expenditure increased from €794,274 to €872,208. In detail, income increased mainly through bar concessions (from €59,755 to €73,000) and complex fee (from €385,435 to €428,931) although there was a loss in advertising (from €36,942 to €28,973). Expenditure increased mainly due to wages and personnel expenses (from €341,147 to €402,449) and facilities maintenance (from €265,738 to €280,515).
The excess of expenditure over income, after depreciation, amounted to €856,409 compared to €843,397 to last season.
As regards to the national teams, youth and grassroots development expenditure, there was a remarkable drop in the association’s income from €4,242,349 to €2,073,590. This was due to the fact that the association had received a contribution of €1,405,000 from UEFA for the Under-17 Championship the previous year and the fact that income from international matches decreased from €2,701,944 to €1,900,166. However income from sponsorships increased from €135,405 to €173,424.
Expenditure in this sector decreased from €2,428,427 to €1,879,541 – mainly due to a decrease in the bonuses and appearance money (from 160,836 to €139,718); travelling and accommodation (€1,154,730 to €862,086), futsal national team expenses (€22,040 to €14,762), technical staff (from €743,956 to 709,803), food and beverage (from €43784 to €34,834), insurance and medical (from €94,972 to €67,421), sundry expenses (from €41,048 to €5,589), maintenance (from €89,845 to €6,635) and match expenses (from €21,780 to €8,018). However expenditure with regards to kits and training equipment increased from €23,465 to €57,808 and protocol gifts increased from €20,316 to €25,321.
The surplus of income over expenditure decreased from €1,813,922 to €194,049.
With regards to domestic competitions, the association’s income compared to that of the previous year decreased from €80,713 to €57,112 – mainly due to a hefty fine to a particular club during the previous season. Expenditure increased from €451,685 to €607,015 – mainly due to the UEFA Champions League Solidarity payments which were due to clubs amounting to €36,725 and considerable increases in ground rental asssistance (from €105,657 to €166,492) and Referees Fees (from €324,525 to €379,260).
The excess of expenditure over income amounted to €549,903 compared to €379,972 in season 2013/14.