The IFF stated they had achieved better than expected television revenues for the World Floorball Championships in Riga ©IFF

The International Floorball Federation (IFF) have released their financial report for 2016, with the organisation having declared a "positive result".

Treasurer Monica Bakke provided the information to the IFF board, reflecting on the costs and income received by the federation, as well as their assets and equity.

The budget for 2016 was CHF1,586,890 (£1,260,349/$1,578,209/€1,486,983), with Bakke’s report stating that costs had totalled a lower figure of CHF1,531,045 (£1,215,996/$1,522,670/€1,434,654) for the year.

According the minutes of the meeting, board member Ron Spence queried the high costs associated to marketing, which represented CHF50,909 (£40,433/$50,630/€47,703) of the outlay, having been budgeted for just CHF25,000 (£19,855/$24,863/€23,426).

Bakke claimed the Global Sports Impact (GSI) Report was placed under the marketing budget, which saw the costs come in at nearly twice the initial budget.

The organisation was found to have an income of CHF1,533,785 (£1,218,172/$1,525,395/€1,437,221) for the year, representing an increase of last year’s figure of CHF1,438,546 (£1,142,530/$1,430,677/€1,347,978).

Despite the increase, the IFF fell short of the CHF1,586,890 (£1,260,349/$1,578,209/€1,486,983) they had initially expected to achieve for the year.

Bakke also stated the receivables were effectively under control, with the result at the end of 2016 being CHF2,740 (£2,176/$2,725/€2,567).

She claimed the positive result was due to better than expected television revenues for the World Floorball Championships, which took place in Riga.

The IFF have released their financial report for 2016 ©IFF
The IFF have released their financial report for 2016 ©IFF

Stefan Kratz, IFF competition manager, admitted there had been issues with equity from time to time while he detailed the governing body were still owed money from a number of nations.

He stated that Latvia has major debts associated with the recent World Championships, but the organiser is set to receive city support to settle with the IFF.

Kratz claimed Slovenia is under a change of leadership, with a long-term plan set to be put in place to help them pay part of their debt during 2017.

Russia, who were suspended over unpaid debts to the IFF and the Slovak Floorball Association (SFA) in March, were viewed to have made no breakthrough to date.

The country have requested the opportunity to register for the 2018 World Championships and Under 19 World Championships, with claims their debt will be settled this month.