Replies to Media ● Oct 13, 2016
FAS’ Reply To Media Query Regarding Expenditure On Domestic Football
‚ÄúWe wish to clarify that Mr Bernard Tan‚Äôs statement that the FAS has spent a ‚Äòquarter of a million‚Äô on grassroots football refers to the amount spent on the National Football League (NFL) and the Island-Wide League (IWL).
“The direct expenses for these two leagues, which go towards the rental of facilities, remuneration of referees, and the prize monies, is $112.3k. The net direct costs of running the competitions amount to $70.7k, after factoring in collected income of $41.5k via participation fees.
“There are, however, other cost factors involved, when a more comprehensive and holistic view of funding is adopted ‚Äì this was the point which Mr Tan was trying to share with the media.
“These additional costs, which have been derived from our cost allocation principle, include the estimated shared cost borne by FAS to run these competitions, alongside other initiatives and programmes such as the S-League. These can be further broken down to include headcount, overheads and facilities. This amount was estimated conservatively at around $180k based on allocation, leading to a total number of about $250k.
“The statement of accounts, as reflected in the FAS Annual Report, is prepared in accordance with Singapore Financial Reporting Standards. Accordingly, the figures have been audited and classified according to the nature of expenses, rather than programmes. The accounts, audited by a public accounting firm, give a true and fair view of the financial position of the FAS.”