LOK President George Timmer: “We welcome the cooperation with the State Audit Office and its recommendations to both the LOK and the Ministry of Education and Science and sports federations in the legal and efficient use of state funding. LOK is aware of the problems mentioned in the SAO report regarding monitoring and transparency of the use of funding allocated to sports federations, and even before the SAO report this year consistently takes various measures to improve internal processes and optimize resources, ensuring transparent financial flows and consolidation and reduction of LOC administrative expenses. “
As of January 1, 2021, the Latvian Olympic Committee has introduced the one-stop shop model in cooperation with sports federations, which envisages the principle of one financial source and, consequently, the consolidation and transparency of financial flows.
Also discussing the document “Sports Policy Guidelines for 2021-2027”, LOK encourages the Ministry of Education and Science to include in this document a task related to the arrangement of funding for the entire sports sector. That is, from 2023, implement a single-channel funding model for Olympic and non-Olympic federations separately, ensuring that one sports federation receives state budget funding from only one financial source, clearly defining achievable results and goals, while strengthening financial flow control. As a result, one sports organization would receive funding from only one source, and it could accurately and purposefully plan the development of its athletes and its sport. This proposal also provides for a clear distinction between funding for Olympic, non-Olympic and adapted sports federations.
The Latvian Olympic Committee is supported by institutional partners – the Ministry of Education and Science of Latvia, JSC “Latvijas Valsts Meži” and the IOC Olympic Solidarity; LOK Gold partners – retail chain “Rimi Latvia” and JSC “LNK Industries”; Informative partners of LOK – SIA “Izdevniecība“ Rīgas Viļņi ”and JSC” Radio SWH ”.
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