This is an update from the 5th Board Meeting, held online on Thursday, 22 July 21.

1. The Board reviewed and approved in principle the End of Year Accounts for FY20/21, pending any final recommendations or adjustments from the Auditors. The Financial statement indicates a healthy surplus for the organisation due to frugal management of expenses during the difficult financial year, receipt of government Covid-19 support schemes, as well as receipt of grant funding under the WorkPro Programme submitted back in 2018.
2. The Board also reviewed the financials of the current financial year 21/22 as of June 2021 which shows SG tracking in line with budget and working towards a cost neutral outcome for FY 21/2
3. The Board approved the amended RG Asian Junior Championships Selection Policy.
4. The Board granted provisional Club Membership to GIM Sports International Pte Ltd who have met all the requirements with their 2021 affiliation application and have more than 20 registered athletes. As per Clause 6.3 of Singapore Gymnastics’ Constitution, the provisional Club Voting Membership status is now pending approval at the AGM in 2021. Once approved as Club Members at the 2021 AGM, these clubs will have Voting Member status at the subsequent AGM in 2022.
5. The Board continued their work on the 2022-2025 Strategic Plan after a dedicated session on 8 July 2021, looking closely at the Vision, Mission and Values of the organisation.
6. The Board reviewed the draft recommendations from the Auditors Independent Report and Review on Financial Policies and Standard Operating Procedures (SOP), with the intent to adopt the four recommendations into the policies and SOP.
7. Due to the constantly evolving situation with Covid-19 globally, the Board agreed with the National Office’s recommendation that for the rest of 2021 no travel will occur for Singapore Gymnastics National Teams unless the overseas travel plans are to approved major games and managed by SNOC. This stance will be re-evaluated in October 2021 with regard to National Team travel for the first quarter of 2022 or if the situation globally sees no travel restrictions in place.
8. In light of the tightening measures, the Board decided to postpone the AGM from 14 August to 28 August 2021 to enable a face-to-face meeting. The Board also decided there would be no further postponement should a face-to-face meeting not be tenable on 28 August 2021, in which case the meeting would proceed virtually.
9. As part of the drive for best practices in governance, the Board reviewed the Director exit survey that will be used for all outdoing Directors moving forward.

Kind regards,

Singapore Gymnastics Board of Directors