After some turbulent and financially difficult times in Merrion Square the FAI's leadership will today present a strong set of accounts for 2004 to its agm in Waterford with the association's turnover, operating profit and cash reserves all significantly up on the previous year.

The association produced a surplus of just over €2.8 million during the 12 months to December 31st before government grants with turnover reaching €20.5 million compared with €14.7 for the nine months to the end of the previous calendar year. Net assets, meanwhile, rose from €4.3 million to €7.2 million.

The organisation's cash reserves were boosted by the sale of Bishopstown Stadium in Cork with the FAI declaring a profit of €1.4 million on the transaction. That money, as well as €2 million from the Irish Sports Council (ISC), has been received in recent weeks.

Despite its relatively strong trading position the FAI's chief executive, John Delaney, is expected to emphasise to delegates the need to further grow revenue. At an announcement of this year's grant from the ISC a week ago, Delaney was adamant that they not only needed but deserved more money from the government based on its growing participation levels and greatly increased development work.

At this afternoon's meeting he is again expected to pursue the topic by emphasising the urgent need to provide support to the thousands of youth team coaches and club administrators who give considerable amounts of their time for free.

The accounts, meanwhile, confirm that Fran Rooney was paid €400,000 in "compensation for loss of office" when he left the association last year. They also show a considerable rise in both the level of payments made to the organisation's directors and its officers.

This, in part, reflects the growing cost of the FAI's senior management and the controversial decision to pay the wages of outgoing president Milo Corcoran, who took leave of absence from his job with Heineken Ireland Ltd.

Corcoran will leave the association's top table today to be replaced by current vice president David Blood. There had been talk of Corcoran taking over as chairman of the eircom League with Paddy McCaul contesting an election against Maurice Fleming for the vacant position of vice president, but after it became clear that the move would contravene the current rules the proposal was dropped.

So McCaul will stay put while Fleming will stand unopposed as long as his eligibility to run is resolved, given that he is currently an employee of the association. As there is no nomination for the position of treasurer, there is likely to be an attempt to fill the position on an interim basis.

A notable aspect of the accounts is the absence of the breakdown of revenue that has traditionally been included for the information of delegates from clubs and leagues. This usually provided a firm indication of what profits were made from international games staged at Lansodwne Road. With the stadium about to be redeveloped, the figures are surprisingly absent on this occasion.