Ghana FA generates GH¢13.7m in revenue, spends GH¢12.9m in 2010

The Ghana Football Association (GFA) as at the end of the football year June 30, 2010, generated revenue amounting to GH¢13,725,459.94.

The country’s football governing body’s expenditure at the end of the period was GH¢12,950,643.76.

This was made known when the 2010 GFA Reports and Accounts was read by officials of the Auditor General’s Office at the FA’s Ordinary Session which was held on August 4, 2011 and chaired by FA President Kwesi Nyantakyi.

This means that the FA has an amount of GH¢ 774,816.18 in its account as at June 30, 2010 as compared to GH¢1,240,686.04 it had in 2009.

“GFA obtained revenue of GH¢13,725,459.94, while the expenses amounted to GH¢12,950,643.76, leading to an overall result of GH¢774,816.18,” the association says on its website August 5, 2011 citing the report.

“In our opinion, proper books of accounts have been kept and the accounts which are in agreement therewith comply with international accounting standard and the Regulations of the Ghana Football Association and present fairly in all material respects, the financial position of the Ghana Football Association as at 30 June 2010 and of the result of operations for the year then ended,” an FA statement quoted the Auditor General’s overview of the accounts.

The report was however, accepted by the body’s Congress, the highest decision maker.

Meanwhile, Mr. Kwesi Nyantakyi says the revenue streams of the body needs an urgent increment as the FA sets out to pursue its development agenda for the next four years.

By Ekow Quandzie