Chronicle Editor
Fungai Muderere, [email protected]
TEMPERS momentarily flared during the Highlanders’ annual general meeting (AGM) at the team’s clubhouse yesterday as some Bosso paid-up members sought to block treasurer Israel Moyo from presenting unaudited financials at the Indaba.
Moyo laboured to make his presentation as some club members expressed displeasure about letting him subject them to unaudited financials.
With some club members seconding Moyo to take to the podium, it took the intervention of the club’s board members including Luke Mnkandla, Elkanah Dube and Peter Dube and he eventually presented his report.
Some members were up on their feet, finger-pointing and speaking on top of their voices to register their displeasure.
Last year, the same meeting was eventually adjourned to a later date mainly because audited financial accounts could not be availed to members.
The issue of the reporting currency was the bone of contention for the 2022 financials.
The conversion of the accounts from the local currency to the US Dollar took longer than anticipated leading to the delay in holding the adjourned annual general meeting.
The meeting was eventually held in May last year, the year in which then treasurer Busani Mthombeni resigned citing personal commitments.
The board of directors in consultation with the executive committee eventually co-opted Moyo as the treasurer.
Yesterday, Mnkandla said: “The delay in the finalisation of the 2022 financial statements, the resignation of the then executive treasurer and the coming in of the replacement treasurer coupled with the suspension of the accounting officer necessitated some remedial action to avoid a repeat of the chaotic situation involving the 2022 financial statements.
“To get around this problem, the board of directors and executive committee engaged a professional accountant to assist in the production of proper financial statements that would pass the test of external auditing.”
Mnkandla added that the internal audit and finance committee, the board of directors and the executive committee had established an internal audit and finance committee comprising club members.
“However, the said internal audit and finance committee that had been established had to be temporarily suspended to avoid duplication. The club’s external auditors PN and Chartered Accounts, resigned. However, after persuasion by the club, they resolved to continue. Unfortunately, after the above, the external auditors once again resigned citing challenges in getting the information they needed from the club. They did not get co-operation from the office and they wrote us a very long letter,” said Mnkandla.
In the preamble of his financial report, Moyo said it was frustrating to note that Highlanders’ internal checks and controls were wanting.
“The system is open for everyone to do as he or she wants. Internal audit is a very important pillar. There is a need for our financials to be validated by auditors. We need to improve on our internal checks and controls. I don’t want to be a treasurer who reduces Bosso to a financially troubled club. We are incurring a lot of losses that even affect our junior teams,” said Moyo, adding that they can’t account for US$8 000.
“Our standard operating procedures are not really up to stretch. Let’s have normal standards not only in finance but all over. I am not attacking the board or my fellow executive members. The way we relate makes it difficult for me or any other treasurer to operate,” thundered Moyo.
He also mentioned that the accounts that he presented were prepared with the information available.
“The history of it is long. I have wasted a lot of time looking for auditors. It has not been easy but we created all this mess. It’s very difficult for me to stand here with unaudited accounts,” said Moyo.
In US$ terms, in the 2023 season, Moyo reported that Bosso got a total of US$351 386 and after paying their stakeholder that include the Sport Recreation Commission (SRC), Zimbabwe Football Association (Zifa), Bulawayo City Council (BCC), Premier Soccer League (PSL), match officials, Zimbabwe Republic Police (ZRP), chief cashiers, cashiers and private security among others, Highlanders remained with US$145 482.
This was from the 17 home matches.
Turnout to Bosso matches accounted for 38 percent of the attendance at Premier Soccer League matches with the other 17 clubs contributing 62 percent.
The South African Rand account suggests that the club got a paltry share of R425 after meeting expenses from a total of R259 234 that they had realised from 17 home matches. -@FungaiMuderere
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