Synopsis of Missing Gate Collections – Rugby Seasons 2017 & ‘18
By Padmasena Dissanayake
The Royal College Union (RCU) annually appoints a Committee to organize inter school Rugby matches played at the Royal College Sports Complex (RCSC). I understand this Committee consists of a Chairman, Secretary and a Treasurer. This Committee is responsible for depositing the gate collection of each match in a nominated Bank/s in the first working day following the match date. In the Rugby Season of 2017, the banking of full collection had not taken place. At the conclusion of the Season, the RCU has to collect from the Rugby Match Organizing Committee (RMOC) the season’s Revenue/Expenditure details along with details of surplus money. It is not clear whether this Profit & Loss statement is audited annually. It is also not clear why the Finance Committee (FC) had failed to notice the Rugby gate collection had not been deposited in the Bank Account/s. RCU’s 2017/18 Audited Accounts do not reflect this anomaly.
In 2018 Rugby Season too, the ticket money had failed to reach the Bank/s. The RMOC officials seem to have continued to avoid banking the Collection, for reasons known only to them.
So for two consecutive seasons, the RMOC had misused the Gate Collection of Rugby matches played at the RCSC. We understand, the total amount of missing funds, exceeds Rs. 15 million.
It is very strange that an esteemed organization like RCU, with numerous financial experts, Chartered Accountants and CEOs, was kept in the dark by the RMOC.
The RCU has an obligation to inform its membership of:
The date they had discovered the misappropriation of funds
The steps they had taken to recover the money (in date order)
The date/s they had received cheques (without sufficient funds in the account/s) from the RMOC officials
The date/s they filed action in Courts (this will show the time gap between the misappropriation was detected and the action filed in the courts)
Names & Designations of RMOC Officials in 2017 & ’18.
Whether anyone of them still represent any Committees of the RCU
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