BNSC chokes in financial Deficit

Auditors, Grant Thornton submitted a financial report for thee year ended March 2020 to the BNSC painting a negative picture about the state of affairs at the sports body..The auditors said without qualifying their report, the Commission has an accumulated deficit amounting to P 90,982,383 and a net current liability position of P 1, 752 895 as of March 31 2020.

“The continued deterioration of the net equity position and a perennial precarious net liquidity position of the Commission raise a concern of the ability of the Commission to continue as a going concern. In addition, the COVID-19 Pandemic has affected cultural and sporting events across the world and it is expected that the effect of this pandemic will be felt by the Commission in the years 2020-2021 and 2021-2022. The ability of the Commission to continue is dependent on the continuous support of the government of Botswana in supplementing the financial needs through revenue and capital subventions,” the report reads.