This was the assessment following the OCs Annual General Meeting of the Board of Directors in Sandton last Thursday. The OC has approved funding of US$423 million from FIFA to deliver the tournament, of which 32 per cent was spent by the end of the 2008/2009 financial year. The financial year was an important one for the OC, with the highlight being the successful hosting of the FIFA Confederations Cup from 14 28 June 2009.
We have utilised approximately 32 per cent of the approved budget. This means that 68 per cent of the funds have been retained for the final year to deliver the most important phase of the World Cup, said OC CEO Dr Danny Jordaan. Furthermore, 85 per cent of the total expenditure to date has been procured from broad-based black economic empowerment suppliers. With 63 days to go until the tournament kicks off, the OC and FIFA are confident that all is on track to host a world-class tournament in June.