MFA Registers a Surplus Income over Expenditure of €1.7 million - Ivan Mizzi (MFA Treasurer)

MFA Treasurer Mr. Ivan Mizzi gave an overview of the association’s Annual Financial Statements for the year 2013-14.   The highklights of the annual report Total Income of €7,44 million Total Expenditure of €4,86 million and a depreciation of €813k A Surplus of income over expenditure before finance cost of €1.77 million  Investment in Member Clubs facilities amounted to €2.8 million  During this year MFA has reached an agreement with the local Government for a grant of €3 million payable over four years.  Total Equity and Liabilities amount to almost €15 million.  Detailed Income and Expenditure Total Income from International Matches totalled to €4.2 million while expenditure totalled to €2.8 million with the most significant expenses being related to bonuses paid in relation to Malta’s away win against Armenia and the Women’s team qualification for the elite qualification phase With regards to Sports Facilities total Income amounted to €589k while total expenses amounted to €794k On the administration side, income amounted to €2.6  million while expenses amounted to €1.6 million