Roscommon GAA have recorded a marked upswing in their financial performance showing an increase in income from €1.6m in 2018 to €2.8m in 2019.
Costs were also reduced in 2019 with spending broadly at €1.5 million (1.55m v.1.49m in 2018).
“We’re delighted with financial results for 2019” said Roscommon county board treasurer David O’Connor. “A surplus of €1.259m has been recorded from income of €2.814m and outgoings of €1.555m.”
“An immense amount of work from the Roscommon GAA and our commercial and fundraising team, Club Rossie, has transformed the financial position of Roscommon GAA” added O’Connor.
“By increasing our revenue through the Win a House in Dublin fundraiser in particular, we were in a position to pay off our creditors, which has long been an objective of the Board, and this has helped strengthen our balance sheet”.
Our costs remained the same and we are now in a very solid financial position going into 2020 with our new fundraiser Win a Home in London just after beginning.
“We would like to thank our main two main sponsors who are exceptionally generous, Sean Mulryan of Ballymore and Tom Hunt of Ranger Pipelines.”
“Their commitment to Roscommon is inspiring” added O’Connor.
“We would also like to thank our Club Rossie business members and Roscommon supporters of Club Rossie who all make a massive contribution.”
“Together we are all making a difference which will leave Roscommon GAA in a very good place.”
“We are fully committed to delivering on our strategic priorities, the redevelopment of Dr. Hyde Park and the development of the Dermot Earley Centre of Excellence.”
”It has taken longer than we would have liked but as you can see an immense amount of work is going into getting Roscommon GAA into a position where it can once again undertake major capital projects.”
“On Monday we launched our biggest fundraiser yet which is critical to delivering these major capital projects.”
“Win a Home in London is our most ambitious venture yet and we hope that people of Roscommon will use every contact they have to help this succeed.
“Without the incredible backing of Sean Mulryan and the efforts and professionalism of the volunteer Club Rossie team a project of this magnitude would simply not be possible”.
2019 Financial Highlights:
Overall income increased from €1.6m to €2.8m, an increase of €1.2m made up largely of:
- The net contribution from Club Rossie fundraising increased from €287k in 2018 to €1.135m in 2019, an increase of €848k. The Club Rossie members Draw and Win a House in Dublin fundraiser are responsible for this increase.
- Commercial income increased from €298k in 2018 to €511k in 2019, an increase of €213k largely driven by a concerted and targeted approach to maximising business sponsorship and membership.
- Costs overall have been largely maintained at €1.5m in both 2019 and 2018 (€1.555m v €1.494m, an increase of €61,000).
- Short term creditor’s accruals have reduced by €720k, from €1,280k to €560k.
- Long term debt has reduced by €97k from €747k to €650k.
Balance Sheet highlights
- Cash at bank has increased by €99k from €865k to €964k.
- Overall net cash had increased by €191k from €55k in 2018 to €246 in 2019.
- Net balance sheet has improved by €1m (Total net assets in 2018 were €3.298m versus €4.288m in 2019).