The financial report of the Malta Football Association was approved during the MFA Annual General Meeting on Saturday.
MFA Honorary Treasurer Ivan Mizzi explained that the association’s income amounted to €7.6m and expenditure to €6.5. The surplus balance carried forward for next year is €418k.
Twenty nine per cent of the global expenditure was spent on domestic competitions and assistance to clubs while the sports facilities accounted for 20 per cent. The association’s operational costs represent 27 per cent while 24 per cent was taken up by national teams and youth development.
He went on to explain that the association has a strong balance sheet going up from €15.5m last year to €19m.
With regards to Football Social Responsibility, Ivan Mizzi said that they balance carried forward from last year amounted to €116k. Income this year amounted to €90k while €88k were spent. The balance at the end of March therefore amounted to €118k. Following a meeting of FSR committee, it was decided that twenty entities will benefit from €114k.
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Income & Expenditure Account
Income €7,596,451
Expenditure €6,533,438
Surplus of income before depreciation €1,063,013
Less €805,011 depreciation
Surplus of income over expenditure before finance costs €258,002
Surplus balance carried forward €418,326
National Teams, Youth and Grassroots Development
Surplus of income over expenditure: €428,889 (down from €694,705 last year)
Income included TV rights and gate money from international matches (€2.3m) and sponsorships (75k) while expenditure included mainly travelling and accommodation for a total of 61 home and away matches amounted to €726k, technical staff €659k, match expenses €138k and bonuses and appearance money €188k.
Sports Facilities
Excess of expenditure over income (before depreciation) €628,620 (up from €285,995 last year)
Income: €877,812
Expenditure: €1,560,432 (mainly wages and personnel expenses €676k and facilities maintanance €631k)
In detail:
National Stadium and Training Grounds: income €142k – expenditure €882k
Centenary Stadium: income €20k – expenditure €57k expenditure
Millennium Stand: income €118k – expenditure €114k
Pool: income €298k – expenditure €251k
Clinic: income €129k – expenditure €140k
Technical Centre: income €167k – expenditure €107k
MFA Administration
Surplus of income over expenditure (before depreciation) €901,419 (down from €1,343,190 last year)
Income: €3,047,286 (including €1.565m from UEFA HatTrick Annual Solidarity, €600 from other UEFA income, €412k from FIFA Forward Operational and €100k from UEFA Referee Convention
Expenditure: €2,145,867 (mainly administrative salaries €1m, referees convention expenses €207k, presentations, trophies and awards €121)
Domestic Competitions and Assistance to Clubs
Excess of expenditure over income (after finance costs) €57,333 (Last year, a surplus of income over expenditure of €577,940 was registered mainly due to government grant of €750k)
Income €1,286,289 (including €1m from UEFA HatTrick 4 and €190k from FIFA grant)
Expenditure €924,964 (including €239k in ground rental assistance and €338k in referees fees for member clubs and member associations)