Johannesburg, 8 April 2010 - The 2010 FIFA World Cup Organising Committee South Africa (OC) is in good financial health and on track to deliver the tournament within budget. This was the clear assessment following the OC’s Annual General Meeting of the Board of Directors in Sandton, Johannesburg today.
The OC has approved funding of $423 million from FIFA to deliver the tournament, of which 32% was spent by the end of the 2008/2009 financial year.
The financial year was an important one for the OC, with the highlight being the successful hosting of the FIFA Confederations Cup from 14 – 28 June 2009.
“Organising committees of all major events around the world have to contend with budgetary demands and pressures and this committee is no different. I am happy to report that the OC has maintained financial prudence and discipline throughout and I am confident that this will continue as we enter the final phase of delivering the tournament,” said OC CEO Dr Danny Jordaan.
“We have utilised approximately 32 per cent of the approved budget. This means that 68 per cent of the funds have been retained for the final year to deliver the most important phase of the World Cup,” said Jordaan.
Furthermore, 85 per cent of the total expenditure to date has been procured from broad-based black economic empowerment suppliers.
“I am pleased to report that the external auditors have issued an unqualified audit opinion on the annual financial statements for the year ended 30 September 2009,” said OC Chairman Dr Irvin Khoza after the meeting.
“Expenditure remained within budgeted expectations and the forecast of expenditure to the end of the event is expected to remain within approved funding,” Khoza added.
Khoza said that all committees were functioning well and commended the finance and procurement committee in particular for ensuring that the OC remains on track to deliver a successful tournament on and off the pitch.
With 63 days to go until the tournament kicks off, the OC and FIFA are confident that all is on track to host a world-class tournament in June.
“The major hurdles have been overcome. The last major inspection tour of all the stadiums has now been completed. The outcome of the inspection, which included our pitch experts, was good as it identified our focus areas for the coming weeks,” said FIFA Secretary General Jérôme Valcke. Furthermore, he explained that all FIFA World Cup stadiums are, as scheduled, undergoing winter species grass seeding.
The Board today also discussed the opportunities for local artists in the run up to and during the FIFA World Cup. It was confirmed during the meeting that FIFA TV Director Niclas Ericson and members of the OC Board, Dr Danny Jordaan, Kirsten Nematandani, Zwelinzima Vavi and Tokyo Sexwale will again meet the Minister of Arts and Culture, Lulu Xingwana, and members of the Creative Workers Union of South Africa on Monday 12 April to discuss the various platforms for local artists including the Opening and Closing Ceremonies, FIFA Fan Fests, the FIFA Congress and the Official Kick-off Concert.
Up to 2 000 performers will be part of the FIFA World Cup opening ceremony and 800 will take part in the closing event. The participants, who will be predominately South African, with representatives from the rest of the African continent, will display Africa’s colorful culture and also showcase the continent’s infrastructural and technological achievements.
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