Darmanin Demajo re-elected MFA president
Malta Football Association registers €1.6 million surplus
Norman Darmanin Demajo, has been re-elected as Malta Football Association president. Despite being uncontested he still required the majority of votes to retain his position.
Darmanin Demajo got 116 votes while 18 club delegates voted against and 'id-DeDe' will now stay on for a third term which ends in 2019.
In Saturday’s annual general meeting, the MFA it ended its financial year with a €1.6 million surplus.
“MFA generated a revenue of €6,127,178, an expenditure of €3,639,559, and a €710,505 deprecation, for a total of €4,340,064 by the end of March this year,” MFA treasurer Ivan Mizzi confirmed.
This means the MFA had a revenue surplus of €1,787,114, Mizzi continued, while presenting the financial report to the MFA delegates.
This year, for the first time, MFA’s respective revenue and expenditure overall statements were issued after 10 months. It was also decided that its financial year would from now on be ending by 31st March.
Maria Mifsud, Deputy Secretary-General of the MFA, explained systematically how MFA generated almost €44,000, of which the majority was donated to the ‘Football Social and Responsibility Fund’, voluntary entities, and non-governmental associations (NGOs).
“The last 6 years of administration under Norman Darmanin Demajo were excellent, except for the year 2012, when MFA suffered an almost half a million euro deficit”, Mizzi added.
Report by Andrea Rossitto