Waterford GAA's accounts for the year show a surplus of €12,497.

In his report to Convention, Secretary Timmy O'Keeffe reveals that the 2014 figures represent a significant improvement on last year:

"I am pleased to report that the finances of the board are in a much healthier state in 2014 as compared to the last few years," he writes.

"The accounts show a surplus of €12,497 for the year as compared to a loss of €2,798 in 2013. Full credit must go to the county treasurer, Joe Cleary, and Liam Cheasty in ensuring that our finances are kept under control.

"The major expenditure heading of the board continues to be amounts spent on county teams. It is often not appreciated that every adult training session for both our hurlers and footballers costs approximately €2,000. There is no extravagance in this figure. This simply covers the cost of travel, food, floodlighting, physios and medical bills for about 30 players and eight backroom staff.

"There probably is a perception that the board wastes money but the bulk of our expenditure goes on training county teams. To remain competitive our teams must train at least as often as our opposition and for example three training sessions per week will cost €6,000."

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