Gloucestershire in the red

Gloucestershire has announced a deficit of £47,000 after tax for the year ending September 30 2008.

Honorary treasurer Roger Cooke said the deficit was disappointing but that the club made a significant surplus (£228,000 after tax) last year and he expects a return to surplus in the current year.

The major negative variance related to squad costs, up £326,000 on the previous year and £76,000 over budget.

This primarily relates to coaching changes after the budget was set which gave rise to a further £84,000 of cost during the financial year.

The club is continuing to invest in its future, with the planned improvement to dressing rooms expected to be completed in March, whilst a grant from the ECB has enabled the £600,000 drainage improvement work currently underway at Bristol.