Cycling Ireland’s salary bill increased by 50 per cent last year, rising to €461,000 after the organisation increased its staff.
Figures in its annual accounts reveal expenditure on “wages and salaries” increased to €460,657 in 2010, from €311,623 in 2009.
The number of staff at the organisation increased to twelve last year, from eight in 2009.
Because the accounts just published by Cycling Ireland are for 2010, they do not capture any savings that would have been made by the recent departure from the organisation of high performance director Phil Leigh.
The accounts have been published ahead of Cycling Ireland’s AGM in Dublin tomorrow, Saturday.
Apart from staff related costs, one of the biggest items of expenditure during the year related to “publicity, advertising and website” costs. These reached €116,517 last year, compared with €66,765 in the previous year.
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The cost of development at all levels – track, road, off-road, women’s and youth cycling etc – remained largely static; €184,062 in 2010 compared with €180,462 in 2009.
Performance related expenditure – that is, the money spent on the higher performance end of the sport – reached €585,591. This was an increase from the €429,051 previously.
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A breakdown of the performance budget predictably reveals the elite men’s road and track budget was the highest of all performance categories; at €215,808, compared with €138,530 in 2009, an increase of 80 per cent.
Junior and U23 road and track riders competing at a high performance level did not fare as well. They saw their budget fall to €28,842 from €43,746.
Women and paralympians were the big winners.
The women’s high performance budget more than doubled; to €100,497 from €41,340. The paralympians budget very nearly trebled; to €93,173 from €31,268.
While Cycling Ireland funded the Sean Kelly Academy to the tune to €32,925 in 2009 that expenditure stopped completely last year.
The level of sponsorship pulled in by the organisation reached €35,999, up from zero the previous year. The level of grant aid received from the Irish Sports Council reached €990,976, up from €933,263 in 2009.
Affiliation fees increased due to the rising number of cyclists joining the organisation; to €457,813 in 2010 from €380,880 the previous year.
Total revenue in 2010 was just under €1.7 million, against expenditure of just over €1.78 million, leaving a deficit for 2010 of €85,547. There was a surplus the previous year, 2009, of €68,644.
Cash in hand or in the bank decreased by €72,000 to €185,439 by year end last year.
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