Athletics SA officially out of debt for first time in 10 years

It was just a formality‚ but Athletics SA (ASA) on Saturday officially moved into the black when its council signed off the 2016 financial statements at a special general meeting in Johannesburg.

The 13.2-million accumulated deficit from 2015 is now an excess of R4.81-million for the non-profit organisation.

“We will always strive to have a small reserve‚ but not to do that at the expense of the athletes‚” said board member Jakes Jacobs‚ chairman of ASA’s finance committee.

This is the first time in 10 years that ASA is not in the red; just three years ago it was in debt of R27-million.

By: David Isaacson – TimesLIVE

Source: TMG Digital.

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