Monday 9 January 2012 | Published in Regional
Conditions have been placed on CISNOC by the Oceania National Olympic Committees (ONOC) for reporting of financial information.
In a letter to Cook Islands Sports and National Olympic Committee (CISNOC) president Sir Geoffrey Henry, ONOC president Dr Robin Mitchell confirms his organisations support of the Cook Islands sporting body.
But the letter, dated December 16, says such support is conditional on CISNOC meeting all reporting requirements as laid down in ONOC guidelines.
CISNOC has just this week revealed publicly that it is insolvent to the tune of about $800,000.
A government bail-out is likely to be confirmed in coming weeks.
Mitchell says, in his letter to Sir Geoffrey, that ONOC is pleased with CISNOCs effort to resolve its financial crisis.
I wish to confirm that the Oceania National Olympic Committees is supportive of efforts by the Cook Islands Sports and National Olympic Committee to resolve the current difficulties that you are facing. ONOC confirms that it will continue to provide annual allocations of funds designated for CISNOC and its member federations through our Continental Olympic Solidarity budgets, conditional on CISNOC meeting all reporting requirements as laid down in our guidelines, his letter states.
Finance and sport minister Mark Brown says sport is a government priority and accordingly any measures to ensure CISNOC maintains a strong relationship with ONOC and its parent body the International Olympic Committee (IOC) will be undertaken.
A supplementary budget is being prepared at present and it is possible government will channel some funds into CISNOC through this process.
The supplementary budget is due to be tabled in parliament on February 15 for consideration and adoption.