TTCB president mum on NGC audit

A FINANCIAL audit conducted by the National Gas Company (NGC) on the TT Cricket Board (TTCB) has shown that 24 per cent of its sponsorship was not spent according to stipulation. The audit showed that between 2014 and 2016, $2,983,000 was spent without approval by the TTCB and not in accordance with the Memorandum of Understanding.

The NGC signed a MOU with the TTCB for three years in December, 2013 for $13.35 million. In 2016, due to a reduction by the NGC, the total sponsorship was reduced to $12.46 million.

The audit showed that $25,000 was overpaid in 2014, and funds under-utilised were unilaterally reallocated by the TTCB in the amount of $1,462,000 in 2014, $724,000 in 2015 and $797,000 in 2016.

TTCB president Azim Bassarath, in a brief interview yesterday, said, "We not making any comment."

National League representative Daren Ganga has been questioning the running of the TTCB for years.

A letter by Ganga's lawyer to Bassarath queried the management of the NGC sponsorship funds.

Part of the letter said, "Very recently, our client (Ganga) has been anonymously provided with a copy of an internal audit report conducted by the National Gas Company of TT (NGC) dated March 15, 2017.

"In this regard, the stated intent of said audit report was to determine if monies expended by the TTCB were in alignment with a Memorandum of Understanding executed between NGC and the TTCB.

"As you may recall, for the period 2014 to 2016, the TTCB has been the beneficiary of substantial sums of money from the NGC via a corporate sponsorship arrangement (which is to the tune of an estimated $13 million). Further, as you are aware, any funding and/or monies provided to the TTCB by NGC, being a state company, unequivocally comprises state resources and/or the patrimony of the citizens of TT.

"In those circumstances, it is indisputable that any audit or report which contains findings or determinations of financial impropriety, mismanagement and/or depicts flaws (procedural or otherwise) in the systems of accountability within the TTCB should not only be treated with serious care and consideration but also be placed as prime priority.

"Some of the salient and disconcerting findings and/or features of the said audit report are as follows:

a. 24 per cent of the funds provided by NGC to the TTCB was expended without approval and/or in breach of the said memorandum of understanding. b. This unapproved expenditure in breach of the said memorandum of expenditure is exacerbated by the fact that the said audit report further concluded that “The review of TTCB’s actual expenditure was hindered based on a lack of adequate documentation i.e. payment vouchers that were not supported by the respective purchase orders, contracts, invoices...

c. TTCB acted in a “deceptive” manner and did not adhere to best business practices when it reallocated a sum of $25,000 for administrative expenses without the approval of NGC."

NGC EXIT HURTING CRICKET

The financial audit by NGC follows the financial struggles that forced the TTCB to make changes to its cricket calender in 2018. Due to financial constraints, the TTCB was forced to reduce the annual three-day competition to a two-day tournament for the 2018 season. Also, the 50-over tournament was cancelled, but the T20 tournament remained on the local cricket calender.

Part of the reason the TTCB was forced to cut down the number of tournaments was because NGC stopped sponsoring local cricket at the end of 2017. NGC, a long time sponsor of local cricket, said because of financial constraints the company could not continue its sponsorship.

TTCB CEO Suruj Ragoonath this year resigned his post after close to five years in the position. The TTCB has claimed its financial struggles hindered them from keeping hold of Ragoonath's services.

The economic downturn is also affecting the amount of money given to national sporting bodies by the Government. Bassarath informed Newsday last year that the Sport Company of TT has been giving less to local cricket. In 2016, the TTCB received $200,000, compared to between $600,000 and $700,000 previously.