INTERNATIONAL FEDERATION OF GYMNASTICS
fluctuations. He announced that the authorization to move the Foundation from Moutier to
Lausanne was finally granted. The Professional Auditor, André Gueisbuhler, and Jürgen Kolb had
met, and the decision was made not to increase annual fees. A loss of CHF 100,000 is an
acceptable result. He read the Professional Auditor's report, which confirms that everything was
done in conformity with Swiss law. Ron Froehlich congratulated the Finance Manager for setting up
a more efficient accounts management system. Everything was done with utmost caution.
The Auditors recommended to the Council to approve the 2010 accounts.
Approval of the 2010 Accounts and the Auditors' Report
Bruno Grandi proposed voting.
Decision: The Council unanimously approved the 2010 accounts and the Auditors'
Report.
Presentation of the 2012 Budget
André Gueisbuhler summarized the decisions made for the 2012 budget; this item was already
discussed in Vysoke Tatry (SVK), following a request for amending the quadrennial plan. Congress
had then approved a loss of CHF 3.913 million, which matches the expected loss to date. The
differences concern targeted adjustments for the World Cup and symposiums but will have no
impact on the final result. He showed the figures per discipline and remarked that there would be
no World Championships for the Olympic disciplines in 2012, which explains the negative results.
Auditors' Report on the 2012 Budget
Ron Froehlich informed that the budget was prepared very carefully. We wanted to be proactive,
but without changing the final result. A budget is never final, because there are always
contingencies; nevertheless he and Frans Koffrie propose to the Council to approve the 2012
budget.
Approval of the 2012 Budget
Bruno Grandi proposed voting.
Decision: The Council unanimously approved the 2012 budget.
Financial Information on the Current Year
André Gueisbuhler provided information on the year 2011 by showing on the screen the current
situation and the decisions approved by Congress in 2010. Amendments only relate to the revenue
from television and the expenses of the World Championships, which were affected by the
introduction of reference judges. The 2011 symposiums on the codes of points, not anticipated at
first, have also been taken into account.
The Secretary General remarked that this year the situation of the USD might again seem alarming
but for the time being this represents a difference of only 5%, since our investments in USD have
been kept to a strict minimum. Nobody can know how the situation will evolve. We could take out
insurance coverage, but the premiums would be very high. He then presented the budget per
discipline, remarking that he had nothing special to report.
André Gueisbuhler pointed out that rather than looking into a specific year, it is best to consider an
entire cycle, which gives us a better picture of our financial situation. President Grandi believes that
it is best to invest in major projects for our sport rather than build large reserves. Our financial
situation is sound; with the current level of our reserves, we would be able to live through an entire
cycle without IOC income (46% of our total revenue) which is precisely what President Grandi
intended. The Secretary General further noted that this percentage is quite positive, since it had
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FÉDÉRATION INTERNATIONALE DE GYMNASTIQUE