Fam draws K2.4 billion budget
Football Association of Malawi (Fam) has budgeted about K2.4 billion for its activities and operations from July to December this year.
The budget was drawn during a budget consultation meeting with heads of member associations over the weekend in Mangochi District.
Among other things, the meeting adopted Fam’s financial year change from the July-to-June cycle to January-to-December. The change puts Fam’s financial year in line with Fifa’s.
According to a budget document released at the end of the meeting, Fam is expected to spend about K2 billion for operations, K281 million for administration costs and K75 million for non-current expenditure.
Member associations have been given 10 days for their input on the proposed budget.
All things being equal, Fam is expected to spend K750 million for the Malawi national football team’s Africa Cup of Nations and World Cup campaigns.
In other expenditures, K197 million will go to women’s football activities while K359 million has been earmarked for member associations.
Fam gets funding from the government through the Malawi National Council of Sports every year for national team activities.
K41 million will be spent on referees’ courses with K150 million going to competitions. For marketing and events, Fam will use K230 million with beach soccer getting K86 million.
Fam will also spend K70 million on Luwinga Technical Centre’s wall while K10 million is for the facility’s furniture and fittings.
The Mzuzu-based structure will also get K5 million for kitchen equipment, and another K5 million for a borehole, a water tank and a motorised pump system.
The country’s soccer – governing body receives about K700 million from Fifa every year with the first chunk being disbursed in January while the remainder is released in July.
Football analyst George Kaudza-Masina, who is a former Fam general secretary, said the association should focus on priorities as it moves into a new financial year.
“It will be up to the association to decide which projects should come first but I know there are some that need urgent attention while the others can wait,” Kaudza- Masina said.
The budget puts the association’s deficit at K920 million.