INTERNATIONAL FEDERATION OF GYMNASTICS
approved by the FIG. He expressed his gratitude to the President as well as to his friends and
colleagues on the Executive Committee. The shortage of judges is a recurring problem in Asia. He
thanked the Federations committed to development.
6.3.4 from the President of the Pan American Union Zobeira Hernandez
Before giving the floor to the PAGU President, Bruno Grandi informed of the PUR decision to make
August 29 of every year a day dedicated to gymnastics. He was pleased to learn that the
government had approved this proposal; he wished PUR every success.
Zobeira Hernandez apologized for not having published her report in the FIG Bulletin and promised
that it would be sent to everyone. In the past two years, several events were organized within the
PAGU and several Federations have participated in the World Championships. Development is on
track and several competitions were organized. Six medals were won in SIN, in particular by a
CUB gymnast, which is uplifting. She herself was able to attend the ART, TRA, and ACRO WC.
Technical development is of utmost importance and is provided through training camps and by the
Academies. Zobeira Hernandez thanked the FIG President who had always supported the PAGU;
she also thanked the Executive Committee and the CAN and USA Federations. The MEX bid for
the 2012 FIG Congress has PAGU's support; she invited the delegates to select Cancun.
6.4 Report from the President of FIG Foundation Council
Norbert Bueche presented the report in the absence of President Hybl. In 2009 Hidenori Futagi
had replaced Junichi Seki, and this year Jani Tanskanen has replaced Nadia Comaneci. The
Congress congratulated the two new members.
Norbert Bueche informed that assistance provided in 2009 amounted to CHF 20,000 and to CHF
30,000 in 2010. Aid is paid directly to individuals or is done in the form of apparatus donated to
Federations. Previously the working capital was CHF 3 million, but 1 million was lost as the result
of Lehman Brothers' bankruptcy. Since then a half million CHF was recovered. In compliance with
the Swiss law, the accounts have been audited and approved by an official auditor. We will receive
CHF 115,000 from Swiss Credit as compensation for our losses. Considering that there are always
more requests for assistance, a proposal will be submitted under item 7 for increasing the
Foundation's working capital to generate more interests, since only interests can be used.
Bruno Grandi stressed the importance of providing all required information; otherwise the FIG
cannot proceed.
7. FINANCIAL MATTERS
7.1 Presentation of the Financial Report and the 2008 + 2009 Accounts
André Gueisbuhler provided a summary of the financial documents sent to everyone, and
highlighted a few points. All figures are in CHF, and in compliance with the Swiss rule of law, the
portfolio was assessed at the minimum market value as of December 31. The former building in
Moutier was sold; this transaction will appear in the 2010 accounts. Therefore the 2009 amount of
CHF 6.9 million under "real estate" includes both the new property in Lausanne and the former one
in Moutier. He pointed out that all revenues from the IOC are spread over an entire cycle in order
to meet ongoing expenses.
The Secretary General brought to attention the liabilities and the loss caused by the collapse of
world stock market; this was already discussed in Helsinki (FIN). 2008 was not a good year, but
we managed to limit the damage. The decision was made to set up reserve funds for protection
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