Finance Manager’s Report Thusith Perera

The ACC's performance for 2004-05 is analyzed in Ad m i n i s t r ation Expenses. The sum spent on the Asia the context of the tremendous success of the 2004 Cup includes USD 11.5 Million given to Members of the . By successfully completing this event we AC C. Staff costs and Administration costs have gained the strength and the encouragement to organ- increased from USD 412,342 in 2003-04 to USD ize this 'giant event' at regular intervals. Furthermore, 459,446 in 2004-05 due to the increase in the activties the successful completion of the 2004 Asia Cup has and the number of staff of the ACC Secretariat in an enabled the ACC to build on its existing strengths to en vironment where the operations are ever increasing. achieve its long stated goal of building a sustainable, Tax charge for the year remained the same as previ o u s integrated Regional Cricketing Power House based yea r . on world class standards and ethics, which provides enduring benefits to all its stakeholders. The surplus for the period amounted to USD 6,597,229, being the highest ever surplus recorded by ACC since its form a t i o n . As a result the Net Assets at year end im p r o ved to a strong position of USD 6,834,444. Th e excess liquidity generated from operations has been placed in interest bearing deposits. ACC Development Fund

During the year under review USD 6,500,000 was received from the International Council, for the development of cricket in the Asian Region.

Interest Income of the Development fund increased from USD 1,938 in 2004 to USD 31,693 in 2005 due to ancial Performance the improved liquidity position.The total expenditure in 2004-05 amounted to USD 4,293,188 which remained During the year under review, the ACC recorded a his- almost the same when compared with the amount toric growth in Gross Revenue from USD 608,455 in spent in 2003-04. 2004 to USD 19,576,992 in 2005.This was due to the staggering amount of USD 19,473,426 collected from Out of the total expenditure, an amount of USD the Asia Cup. Interest income for the period also 1,047,652 was spent for ACC tournaments including increased from USD 3,363 in 2004 to USD 103,566 in the 2004 ACC Tr o p hy and the ACC Fast Tra ck 2005 mainly due to the high liquidity position of ACC. Countries Tournament. An amount of USD 161,867 was spent on the Tours. A sum of USD 643,377 was Total operating expenditure for the year 2004-05 given to Member Associations to procure ground amounted to USD 12,974,458, out of which USD equipment, cricket equipment, fitness equipment and 12,515,012 was spent on the 2004 Asia Cup, USD to develop their cricket infrastructure. A further USD 190,134 for Staff Costs and USD 269,312 for 401,758 was given under the Coach Assistance

ACC Annual Report & Accounts 2004-2005 ~ 46 ~ Program making the total direct assistance to the financial as well as non financial goals of our Member Associations a sum of USD 1,207,002. organization and also to strengthen the relationship with our stakeholders.

At present the ACC Finance Department is closely working with the ICC and our Member Associations to discuss any matters of common interest.

We also expect to implement the Finance & Accounting Manual in this year. This will help to r e m ove ambiguities and to consolidate financial strengths and capabilities of the ACC and the Member Associations. This manual will detail the transaction procedures, internal controls, line of authority, docu- mentation and time deadlines. Once implemented, it is expected that ambiguities will be eliminated and the accounting function will be streamlined. In future, the auditors will have to confirm their compliance to this manual, in addition to the normal audit functions they carry out.

Corporate Governance

We value the core principles of fairness, transparen- cy, accountability and responsibility, which are the key elements of Corporate Governance. Achievements Whilst being ethical, transparent, professional and 2004-05 was a challenging year for the Finance a c c o u n t a ble to our Members and the Exe c u t i ve Department of the ACC as the transferring of opera- Board, measures have already been taken towards tions and the relevant records from the reviewing the existing procedures. office was completed during this year. In the previous year all banking transactions and most of the opera- As the representatives of the Members, the Executive tions were carried out from the Bangladesh Office. Board meets regularly to review the activities of ACC. During the year under review we were able to build up The Finance Committee which comprises seve n a fully fledged Finance Department, which is now at members appointed by the General Body also meets its full operational level. to review, advise or provide recommendations to the Executive Committee on financial performance, finan- In order to produce more timely and accurate financial cial risk management, budgeting, internal controls information, in an environment where proper internal and the operation of bank accounts, etc. controls are in place, we successfully introduced the UBS Accounting System in 2004. As a result, the The Development Committee is there to advise and Finance Department can now produce a comprehen- recommend the Executive Board on the activities sive set of monthly financial statements by the 15th of relating to cricket's development in our member coun- each month. tries and review and approve the annual Development Calendar and Development Budget of the ACC. During the year A.Qasem & Co, an Associate Firm of PricewaterhouseCoopers in Bangladesh was appoint- We attach a high priority to the timely presentation of ed to prepare a Financial and Accounting Manual for monthly and annual financial statements to the ACC. This was done with the intention of eliminating r e s p e c t i ve fo ru m s. Financial statements for each any ambiguities relating to the line of authority, docu- month are prepared by the fifteenth of the next month mentation, and internal control procedures and also to and are sent to the President and the Chief Executive streamline the finance for review. The annual financial statements are pre- function of the ACC with its Member Associations. pared in accordance with the standards laid by the This manual is at its final stage and is expected to be Malaysian Accounting Standards Board, based on the completed soon. established International Accounting Standards. The ACC's financial statements, therefore, comply with the Going Forward International Accounting Standards in all material aspects. The annual audit of financial statements is carried out by PricewaterhouseCoopers. With a team of dedicated Finance Department staff in place, work has already begun to identify and exploit new opportunities in order to make our future steady. Thusith Perera We will continue paying due attention to achieve

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ACC Annual Report & Accounts 2004-2005 ~ 72 ~ AFGHANISTAN CRICKET FEDERATION CRICKET CONTROL BOARD OF MALDIVES National Cricket Academy Malé Sports Complex Ghazi Stadium 1st Floor Cricket Indoor Hall P.O. Box 1824 Maafaithkurufaanu Mangu Kabul Malé Afghanistan Maldives Phone : + 93 7918 1461 / 7904 1861 / 7933 7678 Phone : + 960 325 503 / 774 761 Ph/Fax : + 93 20 210 2470 Fax : + 960 325 550 Email : [email protected] Email : [email protected] Web : www.maldivescricket.com.mv BAHRAIN CRICKET ASSOCIATION P.O. Box 11437 CRICKET ASSOCIATION OF NEPAL Manama G. P.O. Box No. 20291 Bahrain Gurju Marg Phone : + 973 17 786 484 / + 973 3962 2247 Dillibazar Fax : + 973 17 234 244 Kathmandu Email : [email protected] / Nepal [email protected] Phone : + 977 1 441 2977 / 442 0925 Fax : + 977 1 442 0932 Email : [email protected] Navana Tower (5th Floor) Web : www.cricketnepal.org 45 Gulshan Avenue -1212 BOARD Bangladesh P.O. Box 3948 Phone : + 880 2 988 8956 / 989 0530 / 986 2733 Ruwi, Postal Code 112 Fax : + 880 2 988 8442 Sultanate of Oman Email : [email protected] Phone : + 968 24 787085 Fax : + 968 24 787087 BOARD OF CONTROL FOR CRICKET IN BHUTAN Email : [email protected] P.O. Box No. 1313 Thimphu Bhutan Gaddafi Stadium Phone : + 975 2 324 034 / 351 352 Lahore Fax : + 975 2 328 982 / 333 186 Pakistan Email : [email protected] Phone : + 92 42 571 7231-4 Fax : + 92 42 571 1860 BRUNEI DARUSSALAM CRICKET ASSOCIATION Email : [email protected] P.O. Box 931 Web : www.pcb.cricinfo.com M P C, Old Airpor t Berakas BB 3577 QATAR CRICKET ASSOCIATION Brunei Darussalam P.O. Box 339 Phone : + 673 8777129 Doha Fax : + 673 234 3207 / 233 0587 Arabian Gulf Email : [email protected] / Qatar [email protected] Phone : + 974 440 8225 / 440 8202 Fax : + 974 4435 3242 CHINESE CRICKET ASSOCIATION Email : [email protected] 2, Tiyu guan Road Chong Wen District SAUDI CRICKET CENTRE Beijing 100763 P.O. Box 7272 China Jeddah 21462 Fax : + 86 10 6716 2993 / + 86 10 6713 8387 Kingdom of Saudi Arabia Email : [email protected] Phone : + 966 2 665 3337 / 665 7020 Fax : + 966 2 665 7050 HONG KONG CRICKET ASSOCIATION Email : [email protected] 1019 Sports House Web : www.saudicricket.com 1 Stadium Path So Kon Po SINGAPORE CRICKET ASSOCIATION Causeway Bay 31 Stadium Crescent Hong Kong Singapore 397639 Phone : + 852 2504 8101-2 Phone : + 65 6348 6566 Fax : + 852 2577 8486 Fax : + 65 6348 6506 Email : [email protected] Email : [email protected] Web : www.hkca.cricket.org Web : www.cricket.org.sg

THE BOARD OF CONTROL FOR CRICKET IN INDIA Brabourne Stadium 35 Maitland Place North Stand Colombo 7 Veer Nariman Road Sri Lanka P.O. Box 11094 Phone : + 94 11 268 1601-4 / 267 9568 / 267 9570 Mumbai - 400 020 Fax : + 94 11 269 7405 / 267 9570 India Email : [email protected] Phone : +91 22 2202 5423, + 91 22 2285 2602 Web : www.srilankacricket.lk Fax : +91 22 2285 1361 Email : [email protected] CRICKET ASSOCIATION OF THAILAND Cricket Association of Thailand THE BASEBALL - CRICKET FEDERATION OF IRAN 13 Attakarnprasit Lane P.O. Box 15815-1881 Sathorn Road Tehran Bangkok, Thailand 10120 Islamic Republic of Iran Phone : + 66 2 873 001-2 Phone : + 98 21 830 7813 Fax : +66 2 6797720 Fax : + 98 21 882 4014 Email : [email protected] or [email protected] Website : www.thailandcricket.com KUWAIT CRICKET ASSOCIATION P.O. Box 6706 Hawalli 32042 Sharjah Cricket Stadium Kuwait P.O. Box 88 Phone : + 965 571 7196 / 572 6600 / 573 4972 Sharjah Fax : + 965 572 6622 / 573 4973 / 483 4269 Email : [email protected] Phone : + 971 6 542 2991 Web : www.cricketkuwait.com Fax : + 971 6 543 4741 / 543 3156 Email : [email protected] MALAYSIAN CRICKET ASSOCIATION Web : www.cricketlovers.com 1st Floor, Wisma O.C.M. www.emiratescricket.com Jalan Hang Jebat 50150 Kuala Lumpur, Malaysia Phone : + 60 3 2031 6761-2 Fax : + 60 3 2031 3878 Email : [email protected] Web : www.malaysiacricket.com