FRU makes a surplus of $586,213 in 2014 and appoints new board of directors

The Fiji Rugby Union has a new set of board of directors after holding their Annual General Meeting which was chaired by the recently appointed FRU President, Prime Minister Voreqe Bainimarama.

The new board of directors include Jay White, John O’Connor, Max Olssen, Tevita Bolanavanua, Ratu Aisea Vosailagi while Carl Cameron was retained from the previous board.

Three directors remain to be appointed. 

The trustees will appoint two while the third will be the Prime Minister’s nominee.

The new board of directors are expected to meet soon and decide on their Chairman.

The outgoing Chairman Filimoni Waqabaca in his report, presented by board member Dr. Esther Williams in his absence said that turning the FRU to a sustainable, financially and administrative strong union practicing good governance principles and processes and dedicated management team to continuously improve and develop rugby in Fiji, was their main objective.

While presenting the Union’s Financial report Dr. Williams said when the previous Board took up office, revenue were down considerably.

There was a deficit of 606,647 dollars in 2012.

Dr. Williams said the approved audited accounts show, from a deficit of $606,647 in 2012, this was turned around in 2013 with a surplus of $63,716 and in 2014 a surplus of $586,213.

She added FRU has not been in the dark for many years.

Dr. Williams said income for the 2015 budget for FRU is about 12 million dollars.

She said this is not a small operation.

The goal is to sustain and grow this.

Dr. Williams said in June 2014, World Rugby, after a series of meetings and agreements, restored funding to FRU and this year , funding support is 5 million dollars.

She said World Rugby has agreed to work with FRU as a partner and will engage with FRU in preparation for World Rugby in September 2015; projects that will assist FRU both in terms of operation and policy; training and capacity building, governance and finance.

She added World Rugby is also providing additional assistance in the new engagement including funding costs of senior management staff including a General Manager Rugby.

She said in February 2014 a sponsorship consortium agreement was signed with Vodafone for cash and kind over a five year period. In 2015 this sponsorship is budgeted at 3.1 million dollars.

Dr. Williams said FRU’s total sponsorship in cash and kind for 2015 totals 4.2 million dollars.

The AGM was observed by World Rugby, FASANOC and the Fiji National Sports Commission.