Mar 19, 2017

Thilanga challenged over profit claim Featured

Sri Lanka Cricket president Thilanga Sumathipala has been challenged over a claim by him that the institution had recorded a Rs. 200 million profit in 2016 by cutting down unnecessary expenditure, ‘Deshaya’ reports.

The SLC’s financial report issued to the media has not been independently audited, with economists saying it was unethical to make such details known to the public.

It has now come to light that the accounts report given to the sports minister had been prepared merely by comparing it to the estimated expenditure.

The report is also unacceptable due to the fact that it does not contain a balance sheet or footnotes which are procedural in account reports.

The report claims the SLC had spent over Rs. 433 million on domestic cricket development and Rs. 613 million on human resources and legal matters.

It could be deducted that the monthly allowances paid to contracted players too, are included in these expenditures.

It also says estimated expenditure in 2016 was Rs. 3,081 million, but the actual expenditure was more than Rs. 2,422 million.