images

Chairman to announce recovery in finances at convention

It’s expected that Diarmuid Devereux Chairman of Wexford GAA, will reveal a surplus of wexford-2014-jersey-purple-4_1_2_2nearly €500,000 at the county convention which takes place next Monday night.  This just three years after Devereux stood in front of convention telling them about the depths of the crisis facing Wexford with debts of €3 million, unpaid creditors and u-21 players expenses being diverted to meet day to day running costs. Wexford stood on the brink of financial disaster.

A report in this week’s ‘People Newspaper’ states that next week Devereux will tell a very different story with the accounts now showing an operating surplus of €208,861, while with Grants received of €273,834, the net surplus amounted to €482,695.

Current Liabilities also show a decrease of some €98,894, from €790,415 in 2013 to a current figure of €691,521. A major impact has also been made on long term liabilities, that includes the Ferns Centre of Excellence, for they show a reduction of €264,193, from €1,849,483 in 2013 to €1585,290 this year.

On the income side there is an increase of €95,399, from €1,962,573 in 2013, to €2,057,972 this year.

Gate Receipts have increased by €31,381, which does not include the senior football championship final plus other games not completed by October 31, coming in at €412,650 from €381,269 in 2013. National League returns also rose from €31,095 to €58,416.

The returning boost to the economy was also shown in the accounts with the Commercial Income rising by €64,152 from €233,509 in 2013 to €297,661.

On the Expenditure side the cost of team expenses rose from €695,442 to €757,262, an increase of just €61,820. This is a year where Wexford qualified for two All-Ireland finals, Under-21 and Intermediate Hurling, while the senior hurlers also enjoyed a prolonged championship campaign. Another feature under expenditure is the dramatic costs of staging games reduced from €99,020 in 2013 to €28,992 this year.