Wollongong Olympic Soccer Club expects to see an itemised account of the $2.5 million State Government grant that was referred to ICAC, at a meeting with Wollongong City Council general manager David Farmer today.

The meeting, scheduled for 1pm at Wollongong City Council, is also expected to be attended by representatives from the other two partners - Wollongong Sports and Recreation Centre Pty Ltd and Wollongong Epic Events Pty Ltd - in a joint venture to develop Lysaghts Oval.

"We want to know what's happened to the money and how it has been spent," Wollongong Olympic's Manny Mavridis said.

A Department of Premier and Cabinet spokesman confirmed on Friday that "certain allegations regarding payments from the Government relating to Wollongong soccer clubs and facilities" had been raised with the department.

The matter was then referred to the state's corruption watchdog. Wollongong City Council was appointed the trustee of the $2.5 million given to the Wollongong Wolves and Wollongong Olympic to leave Brandon Park in 2002.

Mr Farmer said the council would meet with members of the relevant organisations this week to discuss the project's progress.

"We will be in a better position to comment on this matter after meeting with the relevant parties next week," Mr Farmer said on Friday.

"Council is a trustee of a grant on behalf of the NSW Premier's Department and has fulfilled (and will continue to fulfil) its responsibilities to distribute the funds in accordance with the agreement."

A six-person building committee made up of an independent chairman, three members from Wollongong Sports and Recreation Centre Pty Ltd, the owner of Lysaghts Oval, and one each from Wollongong Olympic and Wollongong Epic Events is authorised to use the State Government funds for the project.