Vila Times

Van2017 declared 74.3 mln vatu budget surplus after Pacific Games 2017

Van2017 declared 74.3 mln vatu budget surplus after Pacific Games 2017
Van2017 declared 74.3 mln vatu budget surplus after Pacific Games 2017
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Exactly 3 months after the closing ceremonies of the 2017 Pacific Mini Games in Vanuatu, Van2017, the group charged with the organizing and delivery of the Games has wrapped up.

Any remaining affairs of Van2017 will be administered for the next year by the existing Board of Van2017. All the assets have now been handed over to the Government of Vanuatu for their safekeeping/distribution, Van2017 reported.

Van2017 has declared a surplus of 74,291,000 vatu, or roughly 8% of the overall project budget.

According to Van2017, this surplus will be used by the Government and Vasanoc to further sport development in this country. A signing of the surplus agreement took place on March 15 with the President of Vasanoc and Minister of Finance, witnessed by Mark Stafford and Letlet August, DG of Finance.

Van2017 Chairman Mark Stafford thanked the Pacific Games Council for their belief and trust that Vanuatu could host these Games and to Hon Minister Seule Simeon for his leadership on the Pacific Games Authority.

Van2017 said of outmost importance now is to use the facilities, the surplus and the momentum of the Games to move forward the legacy that should result from the Games. It is critical Van2017 said that the surplus that was created goes into Sport development and not just general revenues. It is also equally important the facilities built at Korman complex are maintained for the benefit and enjoyment of all for years to come.

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