INTERNATIONAL FEDERATION OF GYMNASTICS
those who had made comments. These comments were sent to our lawyer, who had incorporated
them in the final document after verification.
Decision: The Council unanimously approved the revised Code of Discipline.
«World Gym for Life Challenge» Regulations
André remarked that the regulations project was distributed for information only. A new experiment
will be carried out in 2013 during the Cape Town (RSA) competition. Thereafter the regulations will
be updated and submitted to the Council for approval in 2014.
Margaret remarked that this new competition was filling a void. It was not possible to organize the
World Gymnaestrada every two years. She explained the differences between the «World Gym for
Life Challenge» and the World Gymnaestrada and how the new regulations were prepared. This
document will become available on the FIG website after the Council meeting. Everybody should
be able to participate in GfA events. She is pleased that an event will finally be held outside Europe
in 2013.
10. Financial Matters
Presentation of the 2010 accounts
André Gueisbuhler commented on the accounts displayed on the screen. As provided for by Swiss
law, all stocks and bonds were evaluated according to their market value on December 31. The
Moutier building was sold, which accounts for the major difference between 2009 and 2010 shown
under "Real Estate". The current building in Lausanne and the adjacent lot are listed under year
2010. Operating costs are funded by the "OG Reserve Funds", which explains the difference
between the two years appearing under this item.
The Secretary General announced that the Executive Committee had decided to move the money
from the sale of the Moutier building to the «General Reserve Funds», in order to avoid taxes. This
amount will be transferred to the Foundation's account, as soon as the headquarters of the
Foundation is officially established in Lausanne. The 2010 accounting result can be considered as
satisfactory, since a much greater loss had been anticipated in the budget.
André Gueisbuhler explained the differences between the actual costs of the 2010 events and the
budgeted amounts. The introduction of reference judges was relatively costly. Differences also
appear under "Council and Congress", as a consequence of actual costs that vary from country to
country. Under "Administration" the still unfilled position within the FIG explains why much less was
spent than we had forecast. The devaluation of the USD has created a loss of CHF 1.2 million,
because some of our assets are valued in USD. The devaluation of the EUR also had
consequences. He then pointed out that CHF 1 million was planned for development.
The Secretary General informed that our manufacturers had their apparatus certified in anticipation
of the Olympic Games, which accounts for the fact that we had more revenue that year. On the
other hand the Competitions Commission had to meet in 2010 more often than planned. He
explained the procedure in force to help the Continental Unions finance their completed technical
projects. To his regret, some Unions do not take advantage of this opportunity. The Secretary
General ended his presentation by comparing the costs and revenues of each discipline.
Report of the Auditors and the Professional Accountancy Body
Ron Froehlich reported that the portfolio value had increased. He pointed out that the loss due to
fluctuations in exchange rates was not an actual loss but a loss on paper only. Regular meetings
are scheduled with the banks, in order to reassess the situation of the portfolio based on currency
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FÉDÉRATION INTERNATIONALE DE GYMNASTIQUE