The executive council of the Philippine Olympic Committee (POC) is contemplating on pressing charges against the Philippine Southeast Asian (SEA) Games Organizing Committee (Phisgoc) if it fails to come up with a financial report on 10 October.
In a virtual press briefing yesterday, POC director Clint Aranas said they want a full breakdown of all the expenses and revenues generated by the organizing body during the country’s hosting of the 30th SEA Games last December.
Aranas and other member of the board have already tasked POC secretary general Ed Gastanes to reach out to Phisgoc and demand for the financial report of the biennial meet.
Based on the tripartite agreement forged between the POC, Phisgoc and Philippine Sports Commission (PSC) before the biennial meet, the organizing body was required to “timely submit to the PSC and POC the documentary requirements of the SEA Games.”
So far, the Phisgoc has yet to submit anything 10 months after the completion of the Games.
“As a board member, I think we can file a case against them for not submitting the financial report. It has been 10 months, but they have yet to give any report to the POC,” said Aranas, a distinguished taxation lawyer who headed the Government Service Insurance System.
“They are supposed to inform us the television rights, sponsorships and all transactions during the country’s hosting of the SEA Games.”
POC president Abraham “Bambol” Tolentino maintained that he is strongly against the move of putting pressure on Phisgoc to come up with a financial report.
He said he believes that the report would be submitted in due time and hopes that it would have an orderly accounting.
“The SEA Games organizing committee has its own accountability and I believe it is just and equitable the way we have successfully conducted the Southeast Asian Games,” he said in a statement.
“Of course, everyone is looking forward to a clean and fair financial accounts. However, I am not attempting to put more burden on the accounting.”
“On the reason of the delay, I am confident that it will be submitted in due time and I have the patience on sensitive matters as such in order to have orderly accounting.”
Aranas, however, reminded Tolentino that demanding financial report was approved by the general assembly in a meeting last Wednesday.
“We issued a general assembly resolution. It is not for the POC president to decide on whether to send the letter to Phisgoc or not,” he said.