THE Fiji Football Association recorded a substantial deficit of $302,178 for its financial period which ended in June this year.
This is after the parent body recorded a nett profit of $264,670 for the same period in 2011.
The losses come after drop in revenue during the Champion versus Champion, Fiji FACT and the Inter District Competition.
A drastic reduction in the FIFA bonus grant also affected the Fiji FA coffers.
For the period ending 2011 Fiji FA received a FIFA bonus grant of $735,482. This is compared to the $260,508 given this time.
This year Fiji FA's income totalled $3,219,960 while it was $4,129,191 for 2011.
The expenses for 2012 totalled $3,522,138 compared to $3,864,521 in 2011.
During the tabling of the accounts, some delegates queried the expenses shown for the youth league. In 2011 the youth league expenses was $10,574 however this figure nearly doubled to $20,295 for 2012.
Fiji FA acting president Sheik Ibrahim clarified that there was nothing wrong with the accounts.
He said the financial report was passed.
"It was the Ba Football Association who questioned it. In the financial reports all the finer details are not stated. It is always a consolidated account that is presented. I want to inform the public that there is nothing wrong with the accounts."
"In 2011 we recived a bigger grant from FIFA. But this year the grant was reduced. Also the adverse weather conditions affected a few tournaments which contributed to the deficit."
"We are ready to take positive criticism and will also need to take on board the suggestions. We hope to have a very good Inter District Competition."
Meanwhile Fiji FA northern vice president Dewan Chand was stripped off his title. This after Chand was convicted on two counts of defilement of a Class Eight student in 2010. He was sentenced last month.
Another Fiji FA vice president Anil Sharma who is on leave of absence in New Zealand has been given time as to clarify when he would return to the country or risk losing his position.