SVGFF in line to reap FIFA’s bonus payments

The St Vincent and the Grenadines Football Federation (SVGFF) is in line to receive an additional US$750,000, as part of FIFA’s bonus payment, despite concerns over the SVGFF’S audits for 2012 and 2013.{{more}}

The bonuses from football’s world governing body are in addition to the annual draw down of US $250 000.

The intention to dish out the payments was communicated in a letter dated June 12, 2014 to all FIFA member associations from FIFA’s general secretary Jerome Valcke.

According to the letter: “Following the announcement made by FIFA President Joseph S. Blatter during the 64th FIFA Congress 2014 in Säo Paulo and the good financial results achieved by our institution during the 2011-2014 cycle, we are glad to confirm that a bonus payment of USD 250,000 will be awarded to all FIFA member associations.

“For 2014, which includes the financial results of the 2014 FIFA World Cup TM in Brazil, we anticipate that an additional bonus of USD500,000 will be awarded to all of the FIFA member associations. This decision will be confirmed when the final financial results are known at the end of 2014 and the additional bonus will be paid out at the start of 2015,” Valcke’s letter further stated.

The national associations were informed that they are required to make an application for the bonus payment on forms provided by FIFA.

FIFA also outlined that the bonuses are in keeping with the general regulations which govern the FIFA Development Programmes and the FIFA Financial Assistance Programme (FAP).

“The bonus is intended for the development of football at the national level and should be used in accordance with the long-term development plan of your member association…At least 15 per cent of the bonus must be used for women’s football. This is an obligatory provision and it is of great importance to the further development of the women’s game,” Valcke’s letter prescribed.

Last month, Valcke wrote to the SVGFF expressing his concerns about the 2012 and 2013 audits.

He wrote then, “The budget is not properly monitored and there are huge deviations between the approved budget and the disbursed amount per category without FIFA approval.”

The SVGFF, in a release following Valcke’s initial concerns, noted that it has acknowledged FIFA’s concerns and is moving swiftly to put in place a comprehensive plan of action to be submitted to FIFA for approval.

Valcke’s latest letter stated: “We draw your attention to the fact that the audit will be performed against the proposed budget…Consequently, any change in the use of the bonus must be agreed by FIFA in advance”.(RT)