MFA registers €835,000 surplus on €3.4m revenue

The MFA financial report, presented by auditor Vincent Curmi of Curmi & Associates, outlined revenue from local matches at €45,434, while the MFA had €1,198,897 from FIFA and UEFA subsidies and refunds.

Durinf the last financial year, the MFA made €1,987,879 from the Millennium Stand facilities and €84,599 from sponsorships. The MFA also earned €20,738 from club fines and damages, and €39,385 from other types of fines. Moreover, the MFA also earned €36,700 from affiliation and other fees, as well as €38,007 from other interest receivable.

During the last financial year, the MFA earned €43,672 from advertising revenue as well as €43,239 from sundry income. On the other hand, the MFA’s expenses included €221,495 in salaries, €75,605 for MFA officials’ allowances, €17,000 for foreign officials’ expenses.

Moreover, the MFA paid €120,172 in referees’ fees for clubs and member associations after the MFA decided that as from this year, it would pay their expenses in full. The MFA also paid €120,172 for police fees, as well as €1,513,801 on the Millennium Stadium project.

The annual report was unanimously approved.