For the financial year ending March 31, 2019, the Malta Football Association registered a surplus of income over expenditure amounting to €227,913. This was revealed during the presentation of the Audited Accounts and Balance Sheet of the Association during the Annual General Meeting which was held at the Grand Hotel Excelsior, Floriana on Saturday.
Apart from the elections, items on the agenda included the approval of the administrative report, the financial report, amendments to the Statute and motions.
While presenting the Report of Activities of the Association for the year 2018/19, MFA General Secretary Dr Angelo Chetcuti said the past season provided lots of emotions which football could give. He said the championship decider between Valletta and Hibernians was a fine advert for the game while the FA Trophy between Valletta and Balzan was another roller coaster.
Dr Chetcuti said that during the past year, the association continued to sow the seed to change “the way we think and do things” – a shift to a more digital environment.
“The COMET Football Management System is now at the core of everything we do. Risks were there but now we recognise that we had an excellent tool which is transparent and has a lot potential. Unlike before, information is being entered by all stakeholders – clubs, referees, etc – and not only by MFA officials,” said the MFA General Secretary.
He also mentioned the introduction of InStat which provides in-depth analysis of players’ performances for coaches and that thanks to a UEFA programme, the association finalised a strategy for IT.
“Everything we do and decide has to be based on a more objective valuation. The publication ‘State of play” is the result of a number of projects from the macro to the micro. “
This includes a number of research studies which have been carried out on the perceptions on football and the MFA, the social return on investment of football, the foreign player impact on the local game, InStat and the Young Players Scheme.
Dr Angelo Chetcuti added that being autocritical is not a weakness but a way to recognise any shortcomings. He said he was convinced most of the proposals by the two candidates for the post of MFA President would build on what has been achieved.
The MFA General Secretary said that there is a predisposition of a more open MFA. He said the Stadium Tours, school visits and after school sessions for girls help establish the roots of the game as more children would be more attracted to football. The Football Symposium, which will be an annual event, discussed different themes to attract people who love the game but fail to involve themselves.
He thanked MFA Technical Director Robert Gatt who expressed his desire to quit, the various partners of the association and outgoing MFA President Norman Darmanin Demajo.
“I got to know him better. He is good listener and accepted my style of work. He was kind but not weak. He definitely leaves a legacy as he was instrumental in the way priority was given to club infrastructure. I would like to thank him for the past nine years of service to the game.”
He concluded by thanking the MFA staff and volunteers and mentioning three particular episodes: the enthusiasm generated by the win over the Faroe Islands; the case of Kane Debattista who managed to unite all the football family and the fact that the fact that 70,000 watched the Championship Decider between Valletta and Hibernians on TV apart from those who attended.
In presenting the Audited Accounts and Balance Sheet, MFA Honorary Treasurer Ivan Mizzi said that over the past nine years, the association generated €66.7 million – €19.8 in the period 2011-13, €21.8 million in the period 2014-16 and €25 million in the period 2017-19. Out of these, €24.6 million went to clubs, €12.98 for the administration, €8.8 in maintanance of facilities and €17 million for the national teams.
The total income was €9,455,199 (compared to 7.6 million last year) while the expenditure (direct operating and administrative costs and depreciation) was €8,828,309 (compared to €7.3 million last year).
The surplus of income over expenditure was €227,913. The Accumulated Fund brought forward from last year was €418,326 and therefore the surplus balance carried forward for next year is €646,239.
Detailed Income Statement – Administration
Income €2,946,222. Increased by €255 over last year.This included €1.565 from the UEFA HatTrick Annual Solidarity, €642K from the FIFA Forward, €304 in other income from UEFA, €100K from the UEFA Referee Convention.
Expenditure €2,068,416. Remained practically the same as last season. The main expenditure is on administrative salaries €1.058M, €121K in meetings and events, €122K in presentations, trophies and awards and €298K in referees convention expenses.
Surplus of income over expenditure before depreciation €877,806
Surplus of income over expenditure after depreciation before finance costs €492,924
Surplus of income over expenditure after depreciation after finance costs €467,979
Detailed Income Statement – Sports Facilities
Income €949,812. Increased by €68K over last year. The main source was the complex income which amounted to €714K.
Expenditure €1,421,525. Decreased by €139K. This included wages and personnel expenses €767K and facilities maintenance €446K.
Excess of expenditure over income before depreciation €471,713
Excess of expenditure over income €1,011,769
Detailed Income Statement – National Teams, Youth and Grassroots Development
Income €3,965,100. Income increased by €1.2 million over last year, mainly thanks to UEFA grants and TV rights. Income included €2.6M from international matches, €1.1M from UEFA and €205K from sponsorships.
Expenditure €2,977,264. Expenditure increased by over €1 million, mainly due to increase in travelling and accommodation for the national teams and bonuses and appearance money. Travelling and accommodation amounted to €1.2M, bonuses and appearance money €282K, match expenses €284K, kits and training equipment €168K and technical staff €858K.
Surplus of income over expenditure €987,836
Detailed Income Statement – Domestic Competitions
Income €1,594,065. Income generated increased by €300K over last year. The biggest source of income was the €1.5M from the UEFA HatTrick IV programme with the remaining €94K resulting from fines.
Expenditure €1,436,166. Expenditure increased by €500K over last year. This included €121K in match expenses, €287K in ground rental assistance, €344K in referees fees, €158K in assistance in league and cups, €259K in capital contribution to clubs and €183K in club schemes.
Surplus of income over expenditure before finance costs €157,899
Excess of expenditure over income €216,133. The actual loss over domestic competitions amounted to €1.342M.
The Balance Sheet
Non-Current Assets (Property, plant and equipment; investment in joint-venture) €12.2 million
Current Assets (inventories; trade and other receivables; cash and cash equivalents) €5.7 million
Total Assets €17.9 million
Non-Current Liabilities (Interest; deferred income) €9.7 million
Current Liabilities (Interest; trade and other payable; deferred income) €7.6 million
There were two amendments to the statute which were both approved. The first one concerned the term of office of the Officers of the Association which will be increased from three to four years to put it in line with practice at FIFA and UEFA level as well as an increasing number of associations. This would allow for a mandate to be executed on a medium term and ensures more stability in the administration of the Association.
The second amendment was to clarify two confining statutory provisions governing the composition of the council and in particular with respect to to the representatives of the Football Referees Association. Thanks to this amendment, the term ‘active’ referees shall refer to activity in the National Leagues of the Association and these cannot be members of the Council.
On the other hand, two motions were presented which were also approved.
The first one put forward by the Council was to enact the first amendment to the Statute – the one regarding the term of office of four years. Therefore the elected Officers of the Association will be serving until season 2022/23.
The second motion put forward by the President concerned the membership of the Malta Football Referees Association which was suspended on June 5th. The motion stated that since there were developments which should lead members to elect a committee in respect with MFRA regulations, the AGM will leave it up to the Council to decide on the lifting of the suspension when deemed fit.
Among the distinguished guests for the AGM was UEFA Vice-President Michele Uva. The former Director General of the FIGC said Darmanin Demajo’s unique style made him appreciated in European football family. We don’t want to lose your energy. He encouraged him to share his experience with younger administrators and said he hopes Maltese football will continue to benefit from his legacy.
“We welcome the fact that there are two candidates as this reflects democracy. No matter the result, it is important that the football family will remain united,” concluded Uva.