By not submitting a financial report early, members of the Philippine Olympic Committee’s executive board believe that the organizers of the 2019 Southeast Asian Games may have already broken an agreement it got into last year.
Seven members of the 13-man Philippine Olympic Committee Executive Board expressed their agreement on this as they sought out the Philippine Southeast Asian Games Organizing Committee for the immediate submission of its audited financial statements.
“Frankly, the Phisgoc is already in breach of the Tripartite Agreement,” said the group as it replied to Phisgoc Inc. president and chief operating officer Ramon Suzara’s disclosure yesterday.
Organizers of the Games have been given a deadline by the POC General Assembly to submit a disclosure of their financial activities on Oct. 10, Saturday.
“The decision of the POC General Assembly to call for an accounting and liquidation is consistent with the duties and responsibilities of the POC under the Tripartite Agreement,” said the group in their statement.
The board members are POC chairman Steve Hontiveros, first vice president Jose Romasanta, second vice president Col. (ret.) Antonio Jeff Tamayo, Treasurer Julian Camacho, auditor Jonne Go and board members Atty. Jesus Clint Aranas and Robert Mananquil.
House Speaker Alan Peter Cayetano was the chairman of Phisgoc at that time.
The Phisgoc was tasked and mandated to manage and operate the 30th SEA Games under the agreement it signed on Aug. 15, 2019 with the POC and the Philippine Sports Commission.
Under the pact, the POC was tasked to monitor the activities of the Phisgoc, the technical aspect of the Games, oversee its expenditures and marketing activities.
In return, the Phisgoc is supposed to submit a report of its financial activities.
A budget of P6-billion that is under the care of the PSC was supposed to help organizers to be able to tackle its many obligations during the Games when it was held from Nov. 30 to Dec. 10.
