the convention was a joke gman, valuing property way over its value so as to put the account in the black.
Damn you ger doyle. damn you.
from a conversation I heard of that happened last week, it apperantly has got worse once the books were properly looked at. I think the fact Doyle couldnt get a place in any other position too spoke volumes.
Ger Doyle = cunt
Hopefully it wonât be too bad. It will serve as a good warning towards leaving a load of âyesâ men in positions at the top table.
Itâs shocking that there was no one to challenge him for the last few years. He really had everything sown up and the idea that clubs were selling Model County Development Draw tickets to finance his reign of terror is most depressing.
fact gman.
co board has had a major change in approx 25 years as far as i can see.
Have just started reading this now
Not a nice position at all. Where are they going to find 200k in cuts and a 100k increase in revenue? At least there seems to be some modicum of transparency now.
The great Colm Morris has committed to the Wexford footballers for another year after recent reports suggesting he had retired. 
Speaking to Tinnion senior this evening - he mentioned there was a report in todayâs Gorey Guardian on the state of the Co. Boardâs finances - he hadnât read it but said it looked pretty shocking. Anyone read it yet?
BT, it was mentioned above and there was a link to the official Wexford site article too. Basically the new Chairman called an emergency meeting and revealed weâre in a bit of a financial mess. The previous administration didnât really inform anyone of the financial situation but he called the meeting last week to notify the clubs.
Brendan Furlong has this in The New Ross Standard today:
[b]A county in crisis
Club officers shocked by GAA Boardâs financial state[/b]
By BRENDAN FURLONG Sports reporter
Tuesday January 17 2012
YEARS OF property madness have G.A.A. Board in a financial crisis.
Just four weeks after the County Convention, the startling financial revelations were brought before a meeting of the County Board attended by club Chairmen and Secretaries, members of Club Wexford and the Wexford G.A.A. Supportersâ Club along with representatives of the Dublin branch.
The full extent of the financial crisis was laid bare by County Board Chairman, Diarmuid Devereux, which sent out a chilling message to a startled attendance that was clearly dumbfounded at what was unveiled.
Wexford G.A.A. Board is left with a debt mountain of âŹ3m approximately, a figure that includes the expenditure on the Ferns centre of excellence along with the outstanding debt on Wexford Park, a loan that had been due for completion, but which was extended by the previous administration.
While there was alarm and concern expressed by the delegates, they were left in total shock when informed that Wexford County Board is living off its creditors, who are being left unpaid. Under-21 playersâ expenses had been utilised to pay creditors, while a High Court settlement on the morning of Convention relating to breach of contract on the Ferns land transaction was revealed.
But what is of even more significance is that some members of the county Management committee were totally unaware of what was happening within the Association in Wexford, which has clearly left them annoyed, and justifiably so. The first they heard of the financial position was in the weeks following County Convention after Chairman Devereux had trawled through the accounts.
The Chairmanâs reaction just about summed it up: âIâve enough of all this,â he said, before bringing in the County Management committee to prepare for what was one of the most devastating nights in the proud history of Wexford G.A.A.
Members at the County Board meeting were clearly upset to hear that the county can no longer pay its way - its debtors are totally out of control; the County Board has no bank overdraft; creditors can only be paid as monies come in; clubs were left without their development grants, which were utilised to pay creditors.
And the severity of the cutbacks required will also impact on inter-county team preparations, with a clawback of some âŹ90,000 signposted.
Debtors, taking into account the bank balance, leaves the County Board with a balance of âŹ483,286, but much of the âŹ109,975 in the debtors column is expected to be written off, hitting the
left Wexford County Board with a much more daunting task.
Creditors as of January 6 come to âŹ213,003, while outstanding cheques total âŹ334,778, with Leinster Council development grants showing a total of âŹ71,750.
But itâs the overall picture that is shocking. The full creditors total is at âŹ665,393, and even with a total return from debtors of âŹ483,286, it would still leave a shortfall of âŹ182,107, which is expected to be far greater.
With the Glenbrien land loss of âŹ357,803 coming back to haunt the County Board right through the accounts, they are now left fighting for their survival, with a mounting debt burden of âŹ3m approximately.
They say that a new broom sweeps clean, but the unprecedented turbulence in Wexford G.A.A. finances has left Chairman Devereux reaching out to the clubs in what is now a crisis situation for the Association in the county.
With change comes hope, but given the drastic nature of the countyâs finances, Wexford now more than ever will need the support of the clubs if the new Chairman is to bring the county back from the brink.
County Convention brought a change that was achieved although the delegates were shrouded in darkness, but now that transparency has arrived in Wexford G.A.A., the controversy could roll on.
The clubs, clearly annoyed, are now demanding further change in personnel so they can start with a clean slate to bring the county back to its rightful place in the G.A.A.
The financial crisis is simply a nightmare to deal with. But, given the response at the end of Wednesday nightâs meeting when the County Chairman received the plaudits of those present along with a standing ovation, Wexford can and will return to the top table.
Far be it for me to question Brendan Furlong but are any of you lads qualified to comment on those county board financial figures? Any accountants or financial experts on the forum? Surely a deficit of âŹ200k or âŹ300k isnât that big of a deal really? Now, the previous regime didnât have the transparency that the new Chairman intends to operate with and Iâd have misgivings about them settling court cases on the day of Convention without anyone else being aware of it and using grants to pay creditors, but itâs hardly the end of the world. Does anyone have a copy of the annual accounts? Are they publicly available? Does IFRS or Irish GAAP apply or is Irish GAAP and IFRS now the same thing?
Is it not the debt burden of âŹ3m thatâs a bigger problem rather than a few hundred thousand of a deficit?
bando,
ive a copy from the book one recieves at convention, if you wish (at great inconvenience to myself) i can put them in a pdf and mail them to you.
youâd need to be a good accountant to get a grasp of what is the full story really.
Liam Dunne has named the Wexford team for Saturdayâs Walsh Cup game against NUIG in Bellefield. As widely expected the team is almost unrecognisable from last yearâs championship side with only Jim Berry providing continuity. The team features many of what is hoped are the rising young stars of Wexford hurling, many of whom have already made names for themselves at underage and U-21 levels.
The number of new names and wide spread of clubs represented proves that the new manager is willing to experiment and draw upon talent wherever it comes from in the county. It is hoped that a good home support will get behind the team. The game throws in at 3pm.[list=1]
[]Eanna Martin; Sarsfields, Cork
[]Bobby Kenny; Buffers Alley.
[]Brendan Travers (capt) Naomh Enna.
[]Barry Kehoe; Oulart-The Ballagh.
[]Willies Devereux,; St. Martins.
[]John Lacey; Glynn-Barntown.
[]James Tonks; Ferns-St Aidans.
[]Lee Chin; Faythe Harriers.
[]Diarmaid OâKeffee; St Annes-Rathangan.
[]Daniel Martin Carroll; Rathgarogue-Cushenstown
[]Jim Berry; Faythe-Harriers.
[]Tomas OâLeary; Buffers Alley
[]Eoin Moore; Oulart-The Ballagh.
[]Jonathan Fogarty; St. Annes-Rathangan.
[]Ian Byrne; Ferns-St Aidans.
[]Mark Fanning; Glynn-Barntown.
[]Colm Farrell; HWH-Bunclody.
[]Michael OâHanlon; Horeswood.
[]Shane Tomkins; Askamore-Kilrush.
[]Padraig Doran; Oylegate-Glenbrien.
[]Brian McCormack; Oylegate-Glenbrien.
[]Shane OâGorman; Adamstown.
[]Gary Moore; Glynn-Barntown.
[]Jack Guiney; Rathnure-St Annes.
[]Rhys Clarke; Faythe-Harriers.
[]Colm kehoe; Cloughbawn.
[]Shaun Murphy; Oulart-The Ballagh.
[]Ben OâGorman; Oulart-The Ballagh.
[/list]
Manager: Paul Dempsey; Trainer: Rory Kinsella.
Selectors: Darin Fane. St Martins. Colin Furlong OâLoughlin Gaels Kilkenny. Sean Dunne Oulart The Ballagh.
Good man, count. Iâll take a copy please. Iâm on Bandage@thefreekick.com.
Mac, thatâs probably it all right. But is that âŹ3m all long term debt or is it part overdraft or what? Maybe thatâs detailed in the financials?
Obviously if theyâve an ongoing deficit then they wonât be able to meet loan repayments. If itâs say a 3-year loan at âŹ3m or whatever then theyâll be due a âŹ1m repayment each year (if my maths are correct, possibly quarterly âŹ250k) so they wonât be generating the necessary cash flow to meet these repayments.
But youâd need to know the split of ongoing overdraft and actual long term debt in the âŹ3m and how many years are left on the loan(s) and what the repayment schedule is. Are they not due a Croke Park grant to contribute to Ferns whic could be used to reduce the debt / cover repayments?
Count, if you could copy mac@thefreekick.com on that email Iâd appreciate it as well.
Very interesting team for Saturday. Will most likely head along to this to see what the future holds.
Very disappointed with the series of typos. Is that a press release from the new PRO?
Our footballers are playing this weekend too, arenât they?
wont be until tomo getns as i have the pertinent documentation back in the lair.
Yep on Sunday in either Patricks Park or Bellefield.
Itâs down for Patrickâs Park at 2pm on Sunday.