ERA RECORDS OVER E27 000 SURPLUS

MATSAPHA – The Eswatini Referee Association (ERA) recorded a surplus of E27 657 during the financial year which ended on July 31 2020.

The financial statement (from August 1, 2019 to July 31, 2020) was presented by ERA Treasurer Enock Silenge during the association Annual General Meeting (AGM) which was held at the Gallery Hotel in Matsapha yesterday. The meeting, which saw 56 members in attendance, approved the financials which reflected an improved figure compared to last year’s surplus of E6 383.

Noteworthy is that this year’s income was boosted by the Eswatini Football Association’s (EFA) COVID-19 relief fund. In total this year’s income stood at E234 080 as compared to last year’s E101 474. The referees association received E125 000 from EFA which E75 000 was grant from EFA, E34 400 came from member subscriptions. The 2019/20 surplus was brought about in that there was minimal expenditure on Corporate Wear and Branding. In the previous financial statement, it reflected that E37 382 was channeled to Corporate Wear and Branding while in the 2019/20 financials only E6 038 was allocated.  The 2018/19 financials also reflects that E13 935 was spent on a social event, while none was spent on this financials year statements which clearly explains the ballooned surplus.

The financial report was approved by the members who commended the association for a job well done, but did highlight that the executive should ensure that they keep costs as minimal where possible.

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