The purpose of this study was assessing the performance of financial management of sport organizations on bole sub city and some selected Districts. The study was employed in descriptive survey research method. The researcher was delimited in bole sub city and its Woredas. 7 Woredas and the bole sub city were selected by using simple random sampling. The general target populations of the study were 66 respondents, 41 finance managers, 20 sport experts and 5 administrative staffs were participated in the study. The data has been gathered mainly by Questionnaire, interview and document analysis were used. The data was analyzed by using both quantitative and qualitative methods by describing statements and frequency counts, percentages, and mean also used. Two years annual financial reports were observed and information about financial management practices were gathered. The findings indicated that in bole sub city and in each Woredas there were no professional financial sport experts found. So the Federal and Addis Ababa Sport Federation, the bole sub city itself and each Woredas and other concerned bodies need to give great emphasis regarding incorporating who are close for sport and finance management. The other major problems that are investigated by the researchers were shortage of budget ,luck of on time reporting and auditing system ,don’t get updating skills and don’t use financial plans practically were mentioned. The sport finance administrative heads should update their administration skills to work coordinately with the stake holders of sport finance management staff. Finally the task of sport financial managers should give clearly for concerned bodies with accountabilities and transparency and the operation should be evaluated regularly was underline as recommendation.