CORPORATE GOVERNANCE Building a reputation for effective leadership for the sport, underpinned by strong governance
SG is committed to a high standard of corporate governance. The Board of Directors, who were in governance up until the 22 February 2021, and the newly elected Board of Directors who commenced their tenure on the 15 March 2021, recognise the importance of good governance in providing greater transparency to the Association’s operations, as well as being critical to the effective performance of the Association. With this in mind, the Board developed a Board Governance Policy which was adopted in April 2021. This contains the governance practice of SG's Board and acts as a guide on the activities of the Board, as well as the operating activities that has been delegated to management. This policy is a cornerstone document for SG, and it complements other SG documents: 1. Singapore Gymnastics Constitution 2. SG Policies, and in particular: a. P007 SG Reserves Policy b. P015 Financial Management and Delegation Policy c. P021 Fundraising Policy d. P030 Critical Incident Policy e. P035 Conflict of Interest Policy f. P037 Whistle Blowing Policy The Board works with the General Manager to lead and manage the Organisation. The Board provides guidance and delegates the formulation of policies and the day-to-day management to the General Manager, Karen Norden, who was appointed on 4 June 2017, and the National Office staff. The General Manager and the National Office remain accountable to the Board. To assist the Board in the execution of its duties, the Board has delegated specific functions to the Board Sub-Committees. Each of these Sub-Committees operates within the Terms of Reference approved by the Board. The Board’s decision and approval is required for the following matters: Corporate and service strategies and restructuring Policies Annual budget Annual report and accounts Interested person transactions and matters involving conflict of interest for a director Any material and significant matters. The Board meets at least nine to ten times a year with a quorum of at least five members. The Board Sub-Committees meet at least three to four times a year. The number of meetings attended by the Board and Board Sub-Committees during the financial year have been outlined in the report.
Singapore Gymnastics Annual Report 2020
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