Posted on

SVGFF in better financial position, says Delves

SVGFF in better financial position, says Delves

Share

Former President of the St. Vincent and the Grenadines Football Federation (SVGFF) Joseph Delves has declared that the organisation is in a better financial position than the way in which his Executive met it in 2007.{{more}}

Delves made this pronouncement while delivering the Executive Report at last Saturday’s Annual General Meeting, held on the second floor of the Golden Apple on Halifax Street in Kingstown.

Delves, who was giving his last speech as head of the organisation, said that the debt of the Federation stands at just over EC$385,000, significantly down from the over EC$680,000, four years ago.

The outgoing president, who did not seek re-election, also indicated that the incoming Executive will have at its disposal over EC$220,000, as cash in the bank.

He stated that the new Executive, sometime before the end of this month, will receive the final draw down of US$150,000, which is the final part of a bonus payment of $300,000, from President of FIFA Joseph “Sepp” Blatter, who is following through on a promise made to the 2010 FIFA Congress held in South Africa.

St. Vincent and the Grenadines was also the beneficiary of another US$250,000 in bonus payment, thanks to Blatter’s generosity.

In addition, Delves disclosed that the final part of the annual US$250,000, will be here in the bank account of the SVGFF next month. That amount, he said, is US $64,500.

Delves said that in 2007 when his Executive took up the mantle of leadership of the sport, they met $380 as cash in the bank, and an overdraft of $75,239.

Delves advised the packed meeting hall that under his watch, they were vigilant about incurring more debts, while prudent in the spending.

Debt reduction and management were part of the SVGFF’s Coconut Bay Resolutions of September 2009.(RT)

LATEST NEWS