MUSCAT: The Board of Directors of the Sports Activities Support Fund held its first meeting in 2017 under the chair of Shaikh Saad bin Mohammed Al Mardhof al Saadi, Minister of Sports Affairs and Chairman of the Board.
The Board discussed a number of topics, most notably the recommendations of the Fund Investment Committee submitted to the Board of Directors after its first meeting of 2017. The draft final report of the Fund’s Audit Office for 2016, and the proposal to develop one of the Fund’s sites by contracting with one of the specialised offices in real estate development and feasibility studies, in addition to the recommendations relating to the status of properties owned by the Fund and the emerging changes in its financial revenues between 2016 and 2017, were among the topics.
The Board also discussed the recommendations of the Investment Committee on the report on the administrative and technical follow-up of the buildings owned by the Fund and the report of the support provided to some athletes in their 2017 international participations. The Board took the appropriate decisions.
The Board discussed the financial report of the Fund and the financial position for the year, which reflects the expenditures made during the first quarter of 2017 compared to financial revenues from the various sources of investment of the Fund. — ONA
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