Fiji Time: 11:04 PM on Tuesday 7 July

Fiji Times Logo

/ Front page / Sport

Fiji rugby pledges to regain IRB funding

Fiji Rugby Union Statement
Monday, January 13, 2014

In October 2013 the current FRU board welcomed an IRB audit which was delayed twice by previous management.

This was agreed to give the FRU board an objective view of the state of affairs at FRU.

The IRB audit letter and report was received by IRB in December 2013.

The IRB audit report highlighted financial, administration and governance issues that this current board is working hard to complete before reengaging with IRB.

To date we have completed the FRU constitution review, put in place both finance and human resources procedures and policies in line with current accepted standards of practice as recommended in the IRB report.

Please note that all these issues were inherited by this current FRU board and the board expects to clear up all these issues by end of May 2014.

The FRU acknowledges IRB's funding towards FRU in previous years. However it is important to note that funding from IRB to FRU is also taken out from the IRB Grant allocated for Fiji's Rugby World Cup 2015.

To date FRU has utilised 200,000 ($F625,717) of the 250,000 pounds ($F782,146) leaving a balance of only 50,000 pounds ($F156,429) towards the Rugby World Cup 2015 preparations.

The FRU board will only ask for the further funding from IRB only if absolutely necessary or not at all and reserve this funding for our world cup preparations.

To alleviate the financial crisis the FRU board is currently working on fundraising activities, approaching several sponsors and the Fiji Government through the Fiji Sports Commission to assist FRU.

The FRU board is also currently working on a long-term solution towards financial sustainability of the institution.

The FRU sponsors will be expected to be announced next week.

The FRU board aims to make FRU a financial stable and sustainable institution with accepted standards of practice (finance, human resources, governance and administration) with minimal dependency on grants.





Fiji Times Front Page Thumbnail

Kaila Front Page ThumbnailFiji Times & Kaila Frontpage PDF Downloads

Use the free Acrobat Reader to view.

Westpac
Code Inward TTs Outward TTs
JPY 59.223756.2237
GBP 0.30630.2983
EUR 0.43280.4208
CNY 2.99262.8926
NZD 0.72210.6891
AUD 0.64160.6166
USD 0.48080.4638

from

$0.00

Exchange Rate updated on 7th July 2015

Today's Most Read Stories

  1. Expat dies in accident
  2. Nasi Dredre Ga: Story behind the song
  3. 15s debut
  4. Team probes 'killer' trees
  5. Another gold medal
  6. Players fight for 15s team spots
  7. PM: No referendum
  8. Minister revokes Land Transport Authority board appointments
  9. University shelves new campus plans, increases leased space
  10. Land deal

Top Stories this Week

  1. Ratu Jope passes away Wednesday (01 Jul)
  2. 'Complicated' English Wednesday (01 Jul)
  3. New date Wednesday (01 Jul)
  4. 'Please do not give' Thursday (02 Jul)
  5. Lal remains in exile Thursday (02 Jul)
  6. Expat dies in accident Tuesday (07 Jul)
  7. 7s exodus Friday (03 Jul)
  8. Born to run, Naholo's sacrifice pays off Monday (06 Jul)
  9. Stay out Saturday (04 Jul)
  10. Gay marriages not a 'priority' Friday (03 Jul)