The Irish Sailing Association (ISA) has published 'updated' annual financial statements ahead of its agm this Saturday.
The recently-published 2022 annual financial statements presented a picture of robust financial good health, with almost €1.4m in the bank, though nearly €900k of this reflects grants received, which have yet to be disbursed.
However, the summarised financial statements did not explain the extraordinary reversal of the overall operating result, with a surplus of €171k in 2021 turning into a loss of €67k in 2022, a swing of €238k.
The Association said today (March 20) an 'administrative error' led to the accounts posting on March 14th without data that it traditionally publishes.
As regular Afloat readers will know, the absence of customary unaudited detailed income and expenditure accounts was reported last week.
The updated accounts 'IS Financial Statements with Appendix 2022' are downloadable below and on this link here
Saturday's AGM will be held at 1 pm in the Royal Marine Hotel, Dun Laoghaire, Co. Dublin.