ZIFA Southern Region Declares A Surplus

ZIFA Southern Region Declares A Surplus

By Muziwethu Hadebe

@ The ZIFA Southern Region AGM, Bulawayo.

The ZIFA Southern Region declared a surplus of $ 1 441, 41 in its financial statement as at 31 December 2019. This was disclosed by Tizirayi Luphahla Board Member (finance), in his financial report presentation at the AGM on Saturday.

Total recorded income stood at $ 207 121.35 against an expenditure of $ 205 679.94 for the just ended year.

Although the surplus was not a huge figure it confirmed the Division One league operating within its budget as compared to the previous two financial years in which it operated in excesses of $ 5 180.65 in 2017 and $ 8 133.17 in 2018.

The auditor’s letter confirmed satisfaction with the handling of the finances by the league. It however put recommendations for the league which included;

  • Use of an accounting package to avoid arithmetic errors and to ease the production of reports and financial statements.
  • That the organisation’s assets be revalued in Zim dollars to express a true value in the financial statements.
  • That the organisation looks for more sponsors that will replace those that left or those whose sponsorship is on the low.

A sponsorship deal of $ 15 856.17 from Southland was realised for administration expenses while Liquor Hub provided $ 9 900.00 for the John Landa Memorial Cup.

Affiliation fees continued to be a key revenue earner for the league realising $ 35 815.00 while the National Association provided $ 28 255.50.

Luphahla also presented his proposed 2020 budget which was approved by members with the league expected to raise $ 884 320.00.

The only query raised on the financials was by Makomo secretary general Lewis Jeche who described as unclear the allocation by Luphahla on meetings in the new season, as he pointed out that a specific allocation for that was needed.

The region is targeting to get a sponsorship of $ 100 000 from Southland, $ 70 000 from Liqour Hub while affiliation fees is once more expected to raise most of the revenue at $ 470 000.

Half of the teams had not paid their affiliation fees resulting in them attending the AGM as observers. The league is incorporating new competition rules which will see heavy fines for offending teams; this is also expected to raise income for the league.

There is however no doubt that the league needs to be fully branded and surpass the million dollar value in terms of its annual budget as it has the talent and the potential to reach such heights. ZWL currency was used in the budget preparing the financial statement.

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