INTERNATIONAL FEDERATION OF GYMNASTICS
against the fluctuations in the exchange rates and the stock markets. With respect to the income
statement, there were no World Championships in 2008 for the Olympic disciplines, since it was an
Olympic year.
7.2 Presentation of the Auditors' 2008-2009 Report
Ron Froehlich displayed on the screen a document highlighting the strong points in 2008 and
2009. The Council has already approved these accounts. The budget has been modified; the
assembly will be asked to approve the updated quadrennial plan. The Lausanne building is fully
paid, but the existing Lombard loan contracted at a very low rate will have to be repaid in 5 years.
André Gueisbuhler and Jürgen Kolb meet on a regular basis with the various banks used by the
FIG. He concluded his report by specifying that the accounts are methodically verified by the
Official Auditor, Alain Christe. He then read the Auditor's report. Ron Froehlich confirmed, on
behalf of Frans Koffrie as well, that everything was done according to the current standards.
7.3 Approval of the Financial Reports and the Auditor's Report for 2008-2009
Bruno Grandi was pleased to announce a donation of USD 1 million from VTB. This money will be
made available to the Continental Unions for the development of gymnastics. He expressed his
deep appreciation to VTB. He thanked Ron Froehlich and Frans Koffrie for their work and asked
the assembly to approve both the 2008-2009 accounts and financial reports.
Decision: The reports and accounts were approved by 178 votes in favor, 5 against, and 2
abstentions.
7.4 Presentation of the Revised 2009-2012 Quadrennial Plan
André Gueisbuhler thanked the assembly for their trust. He pointed out that the figures in
parentheses in the quadrennial plan represented losses. The Council can only approve budgets
within the limits set by the quadrennial plan. Any revision of this plan must be approved by the
Congress. A decrease in the USD exchange rate as well as lower than anticipated revenues from
the OG has made a revision of the four-year plan necessary. Furthermore, the new YOG, per diem
increases, athlete licenses, new WADA requirements are all items, which have significantly
increased our spending.
.
Regarding aid to development, the Secretary General remarked that thanks to the VTB gift, each
Continental Union currently receives USD 300,000 per year; unfortunately this money is not always
put to use. To qualify for these funds, Continental Unions are required to submit completed
projects to the FIG, yet some of them are not complying with the requirements. Office expenses
are stable. The Secretary General then discussed the revenues and expenditures per discipline
over 4 years and remarked that only Olympic disciplines generate profits. The relationship we
maintain with the IOC is important, because most of our revenues are generated by the OG. The
assembly was asked to make a decision on the CHF 3 million increase proposed for expenditures.
ARG asked if we were referring to a 50% increase in our expenditures. What are the reasons?
André Gueisbuhler replied that this followed the policy decisions made to increase the
development fund and to launch new projects. These decisions were approved by the Council.
ARG: Is reserve money therefore used to fund these projects? If so, he would recommend looking
for a new financial adviser.
92
FÉDÉRATION INTERNATIONALE DE GYMNASTIQUE