COA URGES APEX COURT TO IMPLEMENT NEW FUNDING POLICY

MUMBAI: The Committee of Administrators (CoA) in its fifth status report has urged the Supreme Court, which is set to hear the matter on Friday, to look into the new fund-disbursement policy prepared by audit firm Deloitte in consultation with CoA chief Vinod Rai and ex-CoA member Vikram Limaye.

The CoA, in its report, has highlighted the need for the BCCI to adopt the new disbursement policy for its state associations without which the objective to achieve the reforms would remain incomplete.

“Currently, every full member (of the BCCI) gets an equal amount from the BCCI irrespective of need/requirement. This policy also discourages existing full members from admitting new full members because the more the number of full members, the lesser the amount that each full member gets,” the report said.

According to the policy, the disbursements would be based on Fixed Amounts Due to Associations (FADA) and Variable Amounts Due to Associations (VADA). FADA amount will be payable to all members (full and associate) after approval from the BCCI general body. VADA will be payable on achievement of various parameters stipulated by the BCCI after approval of the apex council.

While FADA will be disbursed only after receiving audited financial statement, statement of utilisation of funds and response to the compliance audit report provided by the BCCI auditors, VADA’s entitlement has clear criteria for disbursement to take place. There are various categories like green (satisfactory), amber (need improvement) and red (not satisfactory) which would decide whether a state association is entitled to 100%, 50% or no entitlement.