Bermuda Cricket Board (BCB) spent more than 40 percent of their total expenses on staff wages and benefits last year, according to the association’s annual report.Figures in the report, which The Royal Gazette has obtained a copy of, indicate the Board splashed out $614,798 on staff wages and employee benefits in the year ending December 31, 2011, representing roughly 43 percent of total expenses.The BCB’s total expenses in 2011 were $1,431,127 while revenue totalled $907,305, which represents a loss of $523, 822.The loss was driven by a year-over-year $1.1 million decline in revenue as a result of large cuts in grants from both Government and the International Cricket Council (ICC).The BCB had their annual Government grant slashed from $1,025,550 in 2010 to $350,000 last year.Local cricket’s governing body also had its annual ICC grant dwindle from $796,363 in 2010 to $360,653 last year.Sponsorship was down from $93,748 in 2010 to $86,386 last year while “other” revenue increased from $89,452 in 2010 to $108,505 last year.The Board managed to slash expenses by nearly $550,000 last year, compared to 2010.Nearly half of the decline in expenditure was attributed to less spending for international competition. However, spending on salaries and employee benefits was virtually unchanged year-over year.Remaining expenses in the report included $285,272 on high performance, $198,123 on operational costs, $172,728 on international competition, $99,108 on development and another $58,509 on domestic competition.The BCB also received $108,505 from an undisclosed source and another $86,386 from sponsors in 2011.The Board managed to reduce operational costs by nearly $100,000 to $198,123 from $295,993 in 2010 while spending on international competition also declined from $444,213 in 2010 to $172,728 last year.The BCB ended the year with net assets of $1,223,133, down by more than half a million dollars.