The Malta FA presented the financial report for season 2013/14 during thew Annual General Meeting, currently underway at the Grand Hotel Excelsior.
The accounts showed revenues of €7.4 million last season compared to €7.5m the previous term.
The annual expenditure totalled €5.67 million compared to €5.23 million in season 2012/13.
Despite reporting an annual surplus of income over expenditure of €1.6million, the Malta FA ended the year with an accumulated deficit of €1.4 million due to the substantial investment to upgrade the clubs' facilities (€2.8m) and an adverse balance of €823,188 carried forward from the previous term.
The audited accounts, presented for the first time by Ivan Mizzi who was elected MFA Honorary Treasurer at last year's AGM, showed a slight increase in the income from international matches, mainly from television rights, as well as a one-off contribution of €1.4 million from UEFA to cover the organisation of the European Under-17 Championship, staged here last May.
Sponsorship income for the national teams was €135,405.