The initial probe conducted was over a complaint filed against Jayakody by the chief accountant of the Department of Sports Development.
The complaint is over over non issuance of funds to local sports administrative bodies after creating fraudulent documents to ensure the release of funds amounting to millions of rupees.
The All Island Sports Officials' Association says that they would resort to stern action if Ms. Jayakody is not removed from her post.
'Sri Lanka Mirror' learns that Jayakody is proven guilty of several matters.
The probe has revealed that she has reserved funds for local sports administrative bodies by using up funds reserved for international games and had reserved a monthly fuel allowance of Rs. 50,000 for the minister despite such an expense not existing in the department budget.
She is also charged of providing the TV broadcasting rights of the National Sports Festival to the Carlton Network in an arbitrary manner.
Further it is revealed that she has overriden monetary regulations when reserving funds for local sports administrative bodies while overriding the relevant circular when purchasing flight tickets.
The minister of Sports had assured sports officials that a cabinet approval to remove Ranjani would be sought if she does not accept the charges and resign. However, this too, is yet to happen.
Meanwhile, Sports minister Navin Dissanayake is to leave for New Zealand on Feb. 09 for the Sri Lanka - New Zealand match of the 2015 World Cup.