ONOC Focuses On Financial Management

Financial management was the topic of discussion during the start of the Oce­ania National Olympic Committees (ONOC) general assembly at the Westin De­narau Island Resort and Spa yesterday.

ONOC executive director, Dennis Miller said there is assistance available to those who need help in terms of finance.

“That is one way ONOC can assist and that is where everyone needs to manage their fi­nances correctly,” he highlighted.

Miller urged the participants to take-up the financial management programme which has been made available.

“This is where ONOC- member countries’ weaknesses can be addressed in terms of financial management and having proper qualified staff doing the actually financial work that is required and has to meet the re­quirements of the Olympic Solidarity.”

FEEL FREE TO APPLY

Miller told the participants that they are there to assist with the required programme.

“We have a budget so feel free to ask and make your application.”

Financial governance, Miller says, is part of an overall culture, it is not about signing cheques but following the checks and bal­ances.

On the same note Nicole Girard-Savoy who is the head of section and finance of Olym­pic Solidarity highlighted in her presenta­tion that finance teams who are responsible for the daily running of the organisation must have;

• Proper systems in place and better soft­ware,
• Financial monitoring system
• Maintain all financial documents and to keep it updated following all the required processes of accounting in finance.

Sharlene Wong, who is the finance officer-National Olympic Committee Support high­lighted that as a continental association, we have the responsibility to ensure that the objectives of the Olympic Solidarity is met.

She stressed that in finance- transparency, accountability and control were important to the proper running of the organisation.

‘Everyone must be aware of the obligation to submit financial reports to each Olympic Solidarity funding activities,” she added.

The general assembly continues on today.

Edited by Leone Cabenatabua

Feedback: rohit.kumar@fijisun.com.fj