Louth in the black again as finances back on track

LOUTH GAA has reported a profit for the second successive year to cap an amazing turnaround in the county’s finances.

In early 2009, former treasurer Aidan Halpin warned the county was facing financial ruin but the last two financial reports have shown encouraging profits.

Halpin was faced with an alarming deficit in 2007, when he took over as treasurer, as Louth reported a massive deficit of €119,000. But two years later, Halpin was happy to announce a €20,000 surplus.

Having succeeded Halpin as treasurer, Aidan Berrill has reported a surplus of €8,644 for the 2010 year.

Income fell by over €32,000 in 2010 from last year’s figure of €769,270 but that was offset by a drop in expenditure.

In 2009, Louth splashed out €749,071 on various items and that figure dropped to €728,197 this year. Team administration expenses were down considerably.

In 2009, Louth county board officials spent over €340,000 on preparing intercounty teams but that figure dropped to €316,868 this year. A noteworthy item here under the heading “Team management support staff” shows expenditure of €34,417 in 2010, compared to a much higher total of €80,164 in 2009. Louth’s commercial income is down from €181,611 in 2009 to €136,045 but that loss has been offset by club contributions of €33,000 and “other fundraising activities,” totalling €17,705.