PARAMETER D: FINANCIAL MANAGEMENT

• S.1. The institution has an approved Financial Development Plan (FDP).

• S.2. The approved budget is in consonance with the FDP.

• S.3. The institution has a specific budgetary allotment for the following:

  • • S.3.1. personnel services;

    • S.3.2. Maintenance and Other Operating Expenses (MOOE);

    • S.3.3. capital outlay; and

    • S.3.4. special projects

• I.1. The Institution maintains a Financial Management Office managed by qualified and competent personnel.

• I.2. The financial management personnel is responsible for the efficient management of financial resources/funds of the Institution.

• I.3. Officials, staff, faculty, and concerned students participate in the preparation of the budget and procurement of the Institution.

• I.4. The budget of the Institution is fairly and objectively allocated.

• I.5. The Institution allocates funds for the following student services and activities:

  • • 1.5.1. cultural development;

    • I.5.2. sports development;

    • I.5.3. medical/dental services;

    • I.5.4. library;

    • I.5.5. student body organization;

    • I.5.6. guidance and counseling;

    • I.5.7. improvement of laboratories/shops;

    • I.5.8. repair and maintenance of facilities/equipment;

    • I.5.9. purchase of new equipment;

    • I.5.10. replacement of old equipment;

    • I.5.11. construction of new facilities, as needed;

    • I.5.12. improvement/expansion of physical plant;

    • I.5.13. extension/community service;

    • I.5.14. disaster and risk reduction; and

    • I.5.15. auxiliary services.

• I.6. The budget allocated for specific expenditures indicated in item 1.5. is in consonance with existing policies and guidelines.

O.1. The institution has a sound and effective financial management system.

1. Conduct of Mid-Year Assessment and Review. One of the discussions is the BUDGET UTILIZATION RATE of the different COST CENTER.

2. As proof of proper utilization of funds, the University was able to provide additional cash incentives in the past three years to employees occupying regular, contractual, or casual status:

• CNA Incentive of P 25,000 per employee.

• Service Recognition Incentive of P 10,000 per employee.

3. As proof of proper utilization of funds, the University was able to provide additional cash incentives in the past three years to employees with job order or contract of service status:

• Gratuity Pay of P 5,000 per employee.