The Malta Football Association’s Financial Report was approved during the Annual General Meeting on Saturday.
Presenting the audited accounts at the Annual General Meeting, MFA Honorary Tresurer Ivan Mizzi said that the financial report for the year ending March 31, 2017, attests to the MFA’s healthy financial situation.
The Malta Football Association administration’s income amounted to €3.9 million. 77% was income from UEFA (mainly HatTrick Annual Solidarity and HatTrick 4) and 15% from FIFA (mainly the FIFA Financial Assistance Programme). On the other hand, expenditure amounted to €1.532 million. The biggest expense was administrative salaries amounting to €784K.
The surplus of income over expenditure was €2.1 million (€2.38 million less €264K depreciation).
With regards to the national teams, youth and grassroots development, the total income amounted to €2.27 million while expenses amounted to €1.6 million, leaving a surplus of income over expenditure of €654K.
Foreign TV rights amounted to 88% of the income with the remaining amount being sponsorships. On the other hand, travelling and accommodation for the national teams amounted to 30% of the expenses (€489K) and technical staff remunerations to 40% (€651K).
With regards to facilities, the income amounted to €962K while the expenses amounted to €1.248K. The excess of expenditure over income before depreciation was €286K.
Income from the National Stadium amounted to €171K while there was a loss from the Centenary Stadium. The Millennium Stand registered a minimal loss but income will hopefully increase with the restaurant at the Trophies Lounge and the Merchandise Shop while for the first time, the clinic did not register a loss. The pool registered a profit, also thanks to the fact that the National Pool at Tal-Qroqq was closed for maintenance. The Technical Centre also registered a profit.
With regards to domestic competitions, income amounted to €55K from fines while expenditure amounted to €627K which include €60K in match expenses, €200K in ground rental assistance, €322K in referees fees and €43 in trophies. Excess of expenditure over income amounted to €571K.
Meanwhile thanks to the Football Social Responsibility programme, 20 entities will benefit from around €82K.
Income and Expenditure Account
The association’s income amounted to €7.15 million while the direct operating and administrative costs and depreciation amounted to €5.342 million which leave a surplus of income over expenditure of €1.69 million (€1.8 million less €117K finance charges).
The capital contribution to clubs over the past year amounted to €181K, finance costs €391K and the excess expenditure on domestic competitions €571K but the association received the last share of the government grant amounting to €750K.
The surplus of income over expenditure was therefore €1.295 million, less adverse balance brought forward of €663K for a surplus of €632K.
Non Current Assets €11.7M
Current Assets €3.78M
Total Assets €15.5M
EQUITY & LIABILITIES
Non-Current Liabilities €11.15M
Current Liabilities €3.7M
Total Equity & Liabilities €15.5M