Derry’s now debt-free annual financial report reveals

Chairman of the County of Derry, Stephen Barker.

The financial report, which details the county’s spending for the year ending October 31, 2020, shows income for the year at £ 983,401, a total down from £ 1,330,359 for the previous 12 months, which is not surprising given the successful COVID-19 season.

The total includes commercial income of £ 234,899 and income from associated organizations as well as a contribution from the #WeAreDerry Derry GAA Championships streaming service, which amounted to over £ 75,000, made up of a combination of live TV subscriptions, season passes for on-demand 2020 Championship content and partners (platform sponsorship and TV commercials).

Net spending has been reduced to £ 946,818 in 2020, which includes a drop in overall team spending to £ 340,294, from £ 561,515 in 2019.

The County Council also repaid the last installment of the guaranteed capital loan in 2013, meaning that as of October 31, Derry GAA is now debt free with £ 6.2million in assets and a net surplus for the year (2020) of 201,440 pounds sterling. Current cash in the bank stands at £ 116,874, up from £ 28,037 in 2019.

The numbers are extremely encouraging in a very difficult financial climate, and they completely refute suggestions made earlier in the year that the county council was in financial difficulty. Indeed, an additional facility of up to £ 300,000, if required, was also secured in accordance with the county’s strategic plan, which reports said “were commercially sound at current interest rates. But no part of the facility was used. .

The report puts Derry GAA in a very healthy position as the sports world seeks to overcome the aftermath of the pandemic in 2021 and in his remarks at next week’s county convention, Derry Secretary Sean Keane pays tribute to the tough guys on the finance committee and everyone who supported Derry GAA

“I would like to thank the finance committee for the outstanding job they have done during this most difficult year,” said the County Secretary for Derry. members of this committee.

“Derry received the sponsorship for the pitchside banners, the dashboard sponsorship and for the first time the digital sponsorship from Bloc Blinds and Dominoes Pizzas for the ‘We are Derry’ website. With many of Derry’s Championship games being shown live, a number of businesses and retailers have been approached for sponsorship slots during game intervals.

“H&A will remain our main sponsor for 2021 and to them and all of our sponsors from last year, thank you for the enormous contributions without which Derry simply could not exist. The list of companies sponsoring Derry continues to grow. lengthen, which bodes well for the future and for that the hard-working finance committee must take credit for it.

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