[www.inewsguyana.com] – For the financial year 2013/2014 the West Indies Cricket Board (WICB) recorded a comprehensive loss of US$1.53 million and has a negative shareholders’ equity of US$5.4 million, but according to WICB President Dave Cameron, it is a major improvement of the Board’s projections.
Cameron made the revelation to media following his 8-4 win over Barbados’ Joel Garner at the WICB Annual General Meeting at the Jamaica Pegasus on Saturday.
The newly-elected president, sitting next to his CEO Michael Muirhead and WIPA President and CEO Wavell Hinds, said the negative balance sheet was due in part to a reduction in the number of days of cricket played.
However, he gave credit to the WICB Audit, Risk and Compliance Committee, Marketing Committee and Finance Committee whose hard work, he said, created a much more favourable out-turn.
Cameron also revealed that the WICB’s financial statements were ready long before the AGM on Saturday.
“Our financial statements were actually ready 90 days after the year-end. We are only now releasing them because as a matter of protocol, we had to have them approved by our shareholders,” he said.
Cameron said the financials will be posted on the WICB website soon.
Speaking on other matters, the president said there were changes coming to the regional Under-19 competition, the Women’s Super50 competition as well as the Nagico Super50 for the coming season. Details of those pending changes will be released to the media as soon as the WICB directors review them. (Digicel Sportsmax)
