Finances satisfactory – but County Board Draw needs to re-launched

Sean Mulhern and Freda Maguire from the auditors Mulhern/Leonard in Boyle presented the financial report for the year 2007.   The Board showed a surplus of €19,635 over the year, a decrease on the surplus of €124,000 which was recorded in 2006.    The auditors reported that the drop was mostly due to the decrease in the profits from the County Board draw. The draw income in 2007 was down by €68,258 on 2006, which the auditors said was a cause for concern.   The Punchestown Race Day was a major success and netted the board a profit of €94,883. Mr. Mulhern said that if it was not for this fund-raiser the board would be looking at ‘a substantial deficit for the year’ and he stressed that the draw and Race Day need to be successful in 2008.   Gate receipts for the year were up slightly, at €145,999, a rise of just over €2,000 on 2006. Sponsorship from various sources netted the board €154,700, which was slightly down on 2006. Roscommon’s efforts in getting to the National League Division Two final netted a payout of €78,081 from the League, which was up from €27,334 in 2006.    It cost €590,046 to run county teams in 2007, up from €507,414. That figure is broken down as follows: Catering €132,389; Travelling expenses €214,035; Presentation for minor medals €8991; Team managers’ expenses €28,500; Sportsgear and equipment €105,000; Medical expenses €100,906.    The summer camps generated an income of €129,988 in 2007 while it cost €143,756 to run the camps, resulting in a deficit of €13,768 for the year.    The Hurling Board showed a healthly surplus of €46,165 after their year’s activity while the Hyde Park Committee reported a surplus of €3,894 for 2007.   The auditors reported that the board owe  Ballymore Properties €160,000 and that that loan is being re-paid at a rate of €20,000 per year. An AIB bank loan on Dr. Hyde Park is now standing at €294,000, the Connacht Council are owed €24,379 and it is also reported that a total of €305,303 has now been set aside to repay the loan of €1m received from businessman John Murphy. That loan will be repayed, interest-free, in 2012.   The auditors concluded that it was a satisfactory year, with the board showing a further improvement in its position.    Chairperson Michael McGuire said that the County Board draw would be re-launched in January and he added that it was imperative that it was a success. His comments were supported by the auditors.