03 Aug 2017

ITF's financial platform delivering for nations

News Article

Photo: Paul ZimmerITF Director of Finance and Administration Dominic Anghileri

Delegates at the 2017 ITF Conference and AGM heard that member nations have received an increase of almost $12million between 2015 and 2017.

In their financial review on Thursday, Finance and Audit Committee chairman Rene Stammbach and ITF Executive Director of Finance Dominic Anghileri demonstrated that the financial performance and wellbeing of the ITF is enabling the governing body to deliver on behalf of its member nations.

Stammbach said: “We are able to say with confidence that the growth in money going back to our national associations illustrates that we are delivering for nations.

“Revenue has grown substantially, costs are under control, and the reserves are healthy, providing a sound base to support the organisation going forward and providing a source of funds for investment in our future.”

Anghileri went on to show delegates how the ITF’s operating income has grown from $53.8million in 2015 to a projected $70.2million in 2017, with the ITF’s major commercial contracts providing long-term guaranteed income.

This in turn means the ITF has budgeted to distribute $41.8million to its member nations in 2017, which represents an increase of almost 40 per cent on 2015. 

“The increase in income is being used to fund greater distributions to our member nations,” explained Anghileri. “Furthermore, these distributions are consistent with the priorities identified in ITF2024.”

Another key objective of the ITF is aligning and engaging with its member nations and regional associations.

International Relations Manager James McGurran introduced his new department and outlined its objectives during a presentation on Thursday afternoon.

McGurran said: "Our goal is to engage with, listen to, and understand our national associations better. What we intend to do is communicate more to understand the strengths and weaknesses of our members and the unique challenges that they face."

The ITF Conference concluded on Thursday and the formal AGM will take place on Friday 4 August.