Hurling helps Model coffers
Big increase of €106,672
THE financial contribution of Wexford Senior hurlers through the Allianz National League along with the club’s Model County Draw Levy has helped the County Board show a net surplus of €481,498 for 2018 compared to €182,380 the previous year.
The county’s share from the national league came to €220,156 in 2018 compared to €140,982 in 2017, of which €182,369 can be attributed to the Senior hurlers, with the balance of €37,787 for football. The hurling showed an increase from €106,672 which can be attributed to Wexford’s tenure of playing out of Division 1A for the first time in many years.
The league contribution coupled with the club levy of some €170,00 odd on clubs through the Model County Draw for payment of the County Board bank loan on the Ferns Centre of Excellence are the main contributors to the net surplus. Taking in the hurling league contribution coupled with the club levy it provided the County Board coffers with a whopping €352,369.
Gate Receipts for the year show an increase of €41,296 which can be attributed to replays in senior football final, intermediate hurling final and Junior ‘A’ hurling final.
Creditors are still a source of concern showing a balance of €426,955 a decrease of just €7609 compared to the 2017 figure of €434,566, while the debtors have increased from €154,691 to €359,913, while cash and cash equivalents come to €306,782 in 2018, against €222,980 in 2017.
But what also must be of concern to the County Board is the drop in commercial income despite the second year of the Davy Factor in the county bringing so much hype on the hurling circuit.
Commercial Income for 2018 came to €394,638, down from €410,013 in the year 2017, some €15,375 less, and this despite an increase in rent received from holding of inter-county fixtures, which increased to €108,871 from €89,735, an increased balance of €18,136.
The drop in commercial income can be attribute to the downward trend of O’Neill’s Sports down to €124,213 in 2018 from €140,498, while Innovate dropped from €25,000 in 2017 to €15,000 this year, with Creane & Creane showing €10,000 for 2017 with a zero contribution for 2018.
Fundraising increased from €333,235 in 2017 to €397,988 for 2018, with the development draw contribution of €193,591 been the main contributor. while commercial and fundraising Income increased from €54,100 in 2017 to €139,158.
On the expenditure side, teams’ expenses showed a drop of €95,080, from €845,224 in 2017 to €850,144 in 2018, but the cost of each individual team, Senior hurling and senior football, along with the various under-age teams are not individualised in the accounts.
However, players travelling expenses increased from €217,113 in 2017 to €227,191, while teams’ administration decreased from €440,191 in 2017 to €360,201.
On the players travelling expenses some €89,642 was recouped from Central Council, while there was also a payment of €21, 171 from Central Council for teams expenses. Teams’ expenses recovered from Leinster Council came to €21,500.
Administration expenses showed an increase of €27,668 from €324,724 in 2017 to €352,392 in 2018. Staff costs provided the main increase jumping from €186,284 in 2017 to €220,981, an increase of €34,697, of which an administration grant of €30,000 is received from Central Council, along with an office administration grant of €10,000 from Leinster Council.
Expenses of County Board officers went from (€738) in 2017 to €6,959 in 2018, a significant increase under Administration Expenses.
Summer Camp income is down from €314,822 in 2017 to €294,954, while Summer Camp expenses for 2018 amounted to €225,953.