This article is from page 39 of the 2008-09-02 edition of The Clare People. OCR mistakes are to be expected so download the original SWF or the rendered page 39 JPG
THE Board of Shannon Swimming & Leisure Ltd must bridge a shortfall of €300,000 to finance a €1.3 mil- lion redevelopment of the Shannon SR icemereesl eo.
Board member, Councillor Patricia McCarthy is confident the shortfall can be met as €1 million has already been generated through National Lottery funding, local fundraising and a proposed loan.
Cllr McCarthy was speaking yes- terday after the publication of the Shannon Centre’s latest accounts show that it is the only community- owned leisure complex in Clare with
a positive balance.
Lahinch Seaworld has accumulated losses of over €500,000 while Kil- kee Seaworld is also in the red.
However, the Shannon Swim- ming & Leisure Ltd accounts show that turnover increased by nine per cent in 2007, rising from 55,000 to ol) 01007
While costs increased from €515,000 in 2006 to €527,000 last year, the leisure centre was still in a position to report a profit for the sec- ond year in a row.
A surplus of €74,000 allowed the centre eliminate its accumulated losses and return an overall surplus of €49,000.
The accounts show €139,000 cash at bank and equity funds of €244,000.
The company has 13 employees and Staff costs are €293,000.
Commenting on the figures, Cllr McCarthy said that the performance of the centre over the past year has been brought about by a lot of hard work.
“Finances are reasonably healthy, but we are going to have higher costs with electricity and oil prices going up. The centre is a valuable resource for the entire community.”
Commenting on the redevelopment plans for the centre, Cllr McCarthy Said it would include tennis courts, a
skateboard park and a gym, as well as the retiling of the pool.
She said the National Lottery had provided €350,000 in_ funding, while €250,000 has been generated through fundraising with a further €400,000 to be raised through a bank loan.
Construction will take place on a phased basis and the board will de- cide which part of the project will be first developed.
Cllr McCarthy the shortfall in fund- ing for the new development would be bridged through fundraising.