(ATR) The International Aquatics Federation released its compensation plan for top officials in the spirit of Olympic Agenda 2020.
"In answer to the IOC president Thomas Bach and Agenda 2020’s call for transparency, FINA, one of the most important stakeholders of the Olympic program states that the president, the honorary secretary, the honorary treasurer and the Bureau members do not receive any kind of indemnity," a FINA statement issued Friday said.
"They are considered volunteers and do not receive a salary."
FINA, led by Uruguayan Julio Maglione, said that up until Dec. 31 last year its top officials received $300 daily allowance for days of travel for FINA business. From Jan. 1 this rose to $400.
FINA pays for its top officials to travel business class, the federation confirmed.
Swimming’s governing body is based in Lausanne and employs 32 staff, including 11 part-time positions.
The IOC has piled pressure on the international federations to follow its example after confirming its indemnity policy.
IOC president Thomas Bach will be paid $244,000 annually to cover his costs. Executive Board members and commission chairs can claim a daily allowance of $900 when conducting IOC business.
On releasing its policy, the IOC called for every sports organization in the Olympic Movement to "establish a similar policy and make this public," in the interests of transparency.
FINA’s executive board and vice presidents have proposed to nominate a chief internal audit officer as a step towards better governance and accountability, the federation said.
The annual financial report will continue to be audited in accordance with the Swiss Audit Standards and the FINA Constitution.
Under Sepp Blatter’s leadership, FIFA has refused to publish the salaries paid to the Swiss or allowances offered to its 27-member executive committee.
Sebastian Coe told Around the Rings last week that he supports the IOC’s bid for financial transparency and promised to make public what he is paid if elected s IAAF president in Beijing this summer.
Reported by Mark Bisson
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