The Federation of Motorsport Clubs of Uganda (FMU) annual General Assembly has amended the federation’s financial year.
This follows multiple failures to produce a proper financial report in past years due to the limited time allocated to prepare the report.
This year’s Annual General Meeting took place on Saturday, February 1 and the issue of financial report persisted.
As the situation began to worsen, the responsible body proposed a change, and the proposal was adopted by the 2025 AGM.
Previously, the financial year ran from January to December. The approved proposal projects a new cycle from July to June, aligning with the government’s financial year.
Speaking about the change, FMU General Secretary Reynolds Kibira applauded the decision.
“It is a positive development that this AGM has approved the change of financial year. It will ease our financial report submission, which has been an issue for the past six years.
“Another thing is that with the new financial year, it will help us with government money accountability, as we will be running in the same financial year.”
The AGM was attended by all club members, and Vice President Haj Hamid Gombo conducted the meeting as acting president on behalf of President Jimmy Akena.
