TTFA financials to undergo review after not being approved at AGM

PORT OF SPAIN, Trinidad, (CMC) – The FIFA-appointed Normalisation
Committee was unable to secure approval for the 2019 audited financial
statements of the Trinidad and Tobago Football Association (TTFA) at its Annual
General Meeting (AGM) on Sunday.
A statement issued by the Committee after the meeting which was held via
Zoom, disclosed that members have been tasked to review the Audited Financial
Statements for the year ended 31st December 2019 in detail, understand the
implications to the TTFA, and table all additional questions to the external
auditors Madan Ramnarine and Co.
“If we really wish to rebuild football in this country, then we must embrace the
debt crisis as the entire membership’s problem. It is an unprecedented problem,
but it is a problem that we all share,” the Committee’s chairman Robert Hadad
said.
“The issues have been aired, improvements in governance outlined, the need for
fundraising and debt repayment stated – let us work together to restore this
fractured association.”
The Normalisation Committee was appointed in March 2020 after a
FIFA/CONCACAF fact-finding mission found that extremely low overall financial
management methods, combined with massive debt, had resulted in the TTFA
facing a very real risk of insolvency and illiquidity.
During the AGM, the TTFA membership attempted to expel the Coaches
Associations from the membership, based on inactivity/dormancy.
However, this motion was not properly executed as per the TTFA Constitution,
the Normalisation Committee said.
That matter as well as the approval of the audited financial statements and
admission for membership from the Unified Football Coaches of T&T will be
tabled at an Extraordinary General Meeting to be held in two weeks.