Hit by the double whammy of their biggest operational loss in recent times and a total wash-out of the first two One-Day Internationals against India last weekend, the West Indies Cricket Board (WICB) are moving to put themselves on solid financial ground.

Addressing a press conference following the Board's annual general meeting in Jamaica last weekend, WICB president Wes Hall announced three measures to counter the $16 million loss which the organisation have incurred over the last three fiscal years.

In addition, he said the Board would be urging the International Cricket Council (ICC) - the sport's world governing body - to rethink their policy of staging matches during the Caribbean's hurricane season.

This declaration came against the backdrop of the abandonment of the first two One-Day Internationals between India and the West Indies without a ball being bowled after torrential showers flooded Sabina Park in Jamaica last weekend. The estimated loss to the Board is $600,000 though ticket-holders were offered tickets for next week's One-Day against New Zealand instead of cash refunds.

Regarding the balance sheet deficits, including $7 million for the year ending September, 2001, Hall said they "are of grave concern to the Board" and that he has placed "high priority on setting the organisation and, by extension West Indies cricket, on firm financial footing".

He added that the Board had approved "a break-even position for this financial year" and outlined three steps towards redressing the dismal-looking bottom line.

First, to finance their medium-term cash-flow shortfall, the WICB has obtained a loan from First Citizens and Merchant Bank in Trinidad and Tobago and has opted to amalgamate their finance and executive committees to allow closer linkages between financial and operational matters.

Secondly, the Board have prepared a financial procedures manual which was drafted by their new Chief Financial Officer Barry Thomas.

"The Board will also be making greater efforts to encourage timely reporting from member associations that will allow us to get a clear picture of the finances in time to make adjustments operationally if necessary," said Hall, of the third measure.

The president attributed the loss to the Board's decision - despite decreased revenue - to continue with their commitment to finance the development component of their strategic plan, including expanding the Busta Cup and Red Stripe Bowl competitions.

Key factors for the revenue drop were commitments under the ICC's 10-year programme and their new, unfavourable fee structure; losses from home tournaments and the television production costs for last year's home series versus South Africa that were not offset by television rights.

As for the hosting of international cricket during the region's hurricane season, which officially starts tomorrow, Hall said the Board had reason to be concerned as more torrential rains could affect the remainder of the Indian tour and the upcoming one by New Zealand.

Should the ICC continue scheduling tours to the Caribbean stretching into June, Hall warned this could signal the demise of West Indies cricket.

ICC President Malcolm Gray and Chief Executive Officer Malcolm Speed attended the WICB meeting and will receive a detailed financial statement from the WICB, outlining the implications of the ICC 10-year programme.

"Playing cricket in June is problematic. We haven't seen the sun for five days in Jamaica - and this is May. They (ICC officials) have first-hand knowledge. They were here and that helps us make our point," said the president.