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With million-dollar salary ministers and more millions spent to send scholars to top overseas universities ... hard to believe that the margin of error can be as high as 370%.
If the error is 10 or 20% or even 50%, maybe still acceptable. But 370%? WTF!
YOG initial budgets inaccurate
Thu, Sep 16, 2010
my paper
BY CHRISTINA NG
Total amount spent: $387 million
Breakdown of spending:
$97 million: Technology
$76 million: Upgrading of sports venues and equipment
$45.5 million: Live broadcast plus staging of opening and closing ceremonies
$7 million: Journey of Youth Olympic Flame across the globe, starting in Greece
$44 million: Logistics
$18 million: Security
$14.3 million: Operational requirements
$5.4 million: Culture and Education Programme
$79.8 million: Miscellaneous costs such as medical services and training of volunteers
How much spent on food?
THE Minister for Community Development, Youth and Sports, Dr Vivian Balakrishnan, yesterday admitted that the initial budget estimates for the inaugural Youth Olympic Games (YOG) were wrong.
Calling the estimates "inaccurate", he said that this was the first YOG and that both the International Olympic Committee and Singapore were "starting from scratch".
The projected expenditure for the Games was $104 million, but it more than tripled in July to $387 million.
He said: "We had underestimated the requirements and costs for several major functional areas in hosting the Games."
He was responding to questions from Ms Irene Ng (Tampines GRC) and Mr Zaqy Mohamad (Hong Kah GRC) on why the actual expenditure of the Games was more than initially budgeted and how other Games conducted on a similar scale compared.
In a reply to Non-Constituency MP Sylvia Lim's question to elaborate on why the original budget was so low, he said that the last time Singapore hosted an international multi-sports event was in 1973, when the South-east Asian Games was held here.
Adding that he was giving an explanation and not "an excuse", he said: "We didn't think at that point in time that we were going to host a Games which was at world standard with world-class timing systems and information systems."
Costs of technology alone were projected at about $97 million.
He said that large sums also went towards the upgrading of sports venues and equipment, as well as in providing live broadcast of the Games and putting up the opening and closing ceremonies. Still, he said he was convinced that the Games would bring value to Singapore.
Dr Balakrishnan added that Singapore reaped multiple benefits as a result.
For instance, the Games was watched by over two billion viewers, and global viewership helped to feature and advance the Singapore brand over 14 days.
He also added that the Games is testament that Singapore is capable of developing youth athletes who are able to "compete head-to-head with the best in the world".
The Singapore Tourism Board had earlier estimated that the Games would bring in some $57 million in additional tourist receipts.
He said: "Singapore will now be remembered as the country that hosted the world's first Olympics for youth. The investment is an amount that will give us value for money in terms of positioning and marketing ourselves, and making sure we are on the international community's radar screens."
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