fails to submit audited financials
FRANCISTOWN: The clock is ticking for the newly promoted Francistown based football club TAFIC to submit the audited financials for the ended Debswana First Division North (DFDN) 2018/19 season as per club licensing regulations or risk being de-registered from the local elite league by the Botswana Premier League (BPL).
TAFIC, who gained automatic promotion to play in the BTC Premiership, were supposed to submit the audited financial reports early last month. However, TAFIC failed to meet the initial set deadline until it was extended to the end of September. Failure by TAFIC to submit the audited financials according to those close to the development was attributed by the team’s failure to compile the financial report.
While the team is eager to meet the second set deadline the main impediment according authorities is the financial challenges it is facing. TAFIC Chairman Carlos Sebina confirmed when addressing press conference last week that they failed to meet the deadline because at the time they were yet to complete the needed financial statements.
“We did not manage to submit because the financial statements were still incomplete. And since we have been given extension we are hopeful that we will meet the deadline. We are aware of the consequences of failing to submit and that is why we are doing everything in our power to meet the deadline,” Sebina confirmed.
Further Sebina attributed failure to meet the initial deadline to financial challenges of the team noting that the amount needed by the Auditors is too high. He said for the auditors to conduct the audit of the needed financials, the team has to pay P45 000, which they do not have. “Currently we are doing everything in our power to raise the P45 000 needed by the auditors because we do not want to risk being evicted from the elite league when we have just been promoted.
We know that all these requirements meant for purpose of club licensing and we want meet all these despite the financial challenges,” TAFIC Chairman noted.
While the BPL could not be reached for comment they have warned that all teams that fail to meet the club licensing requirements starting from the 2019/20 season will be eliminated from the elite league. “Most of the premier league clubs have been given provisional licenses though a lot of provisions were not implemented. This year we want all teams to fully comply and I hope the licensing committee will fully enforce the rules and regulations. We cannot keep clubs that are financially indiscipline in the league,” a top BPL official recently stated.