Student games lost 12.8b yuan, figures say
By Li Qian |
December 29, 2012, Saturday
|
Print Edition
Print Edition
THE largest-ever World University Games held last year in the southern city of Shenzhen caused a huge loss of 12.78 billion yuan (US$2.05 billion), figures showed.
The games brought in income of 1.217 billion yuan (US$195 million) from ticket sales and other promotional considerations, but the games' expenses were 13.996 billion yuan, according to a report released by the city's audit office.
The 26th Summer Universiade was held between August 12 and 23, 2011.
The games are an international multi-sport event, organized for university athletes by the International University Sports Federation.
The audit report showed the sports event went dramatically over budget mainly because some of the projects exceeded their budget, some made purchases that were unauthorized or in violation of rules, and some didn't have budgets.
Organizers spent 4.49 billion yuan on operating the games, including the opening and closing ceremony; 7.52 billion yuan on building and renovating venues; and 1.986 billion yuan on other support facilities, the audit showed.
The Shenzhen audit office also found donations from some sponsors were poorly arranged, and some resources, such as oil for sailing ships and bullets for competitions, were wasted.
Involved personnel would be investigated and would be punished if wrongdoing was uncovered in the process, according to the audit office.
The report was published almost 11 months later after some local political advisers and local legislators demanded a full disclosure of spending following media reports of big outlays and unpaid debts.
The Shenzhen audit office said they have started auditing the related expenditure on January 2008 and finished this September, according to Southern Metropolis Daily.
"We sent 222 teams auditing 239 units, 61 construction projects and 26 supporting programs. It takes a long time to work out the figures," the office said in response to why it took so long to publish the report, according to the paper.
Liang Daohang, former vice mayor of the city, was said to be toppled for his connection with unclear accounts in the Universiade, according to The Beijing News.
The Guangdong Province Party discipline watchdog on December 1 confirmed Liang was under the investigation for severe violations, but didn't disclose more details, according to its official website.
The games brought in income of 1.217 billion yuan (US$195 million) from ticket sales and other promotional considerations, but the games' expenses were 13.996 billion yuan, according to a report released by the city's audit office.
The 26th Summer Universiade was held between August 12 and 23, 2011.
The games are an international multi-sport event, organized for university athletes by the International University Sports Federation.
The audit report showed the sports event went dramatically over budget mainly because some of the projects exceeded their budget, some made purchases that were unauthorized or in violation of rules, and some didn't have budgets.
Organizers spent 4.49 billion yuan on operating the games, including the opening and closing ceremony; 7.52 billion yuan on building and renovating venues; and 1.986 billion yuan on other support facilities, the audit showed.
The Shenzhen audit office also found donations from some sponsors were poorly arranged, and some resources, such as oil for sailing ships and bullets for competitions, were wasted.
Involved personnel would be investigated and would be punished if wrongdoing was uncovered in the process, according to the audit office.
The report was published almost 11 months later after some local political advisers and local legislators demanded a full disclosure of spending following media reports of big outlays and unpaid debts.
The Shenzhen audit office said they have started auditing the related expenditure on January 2008 and finished this September, according to Southern Metropolis Daily.
"We sent 222 teams auditing 239 units, 61 construction projects and 26 supporting programs. It takes a long time to work out the figures," the office said in response to why it took so long to publish the report, according to the paper.
Liang Daohang, former vice mayor of the city, was said to be toppled for his connection with unclear accounts in the Universiade, according to The Beijing News.
The Guangdong Province Party discipline watchdog on December 1 confirmed Liang was under the investigation for severe violations, but didn't disclose more details, according to its official website.
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