PARAMETER D: FINANCIAL MANAGEMENT

SYSTEM - INPUTS AND PROCESSES

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

S.2. The institution has specific budgetary allotment for the following:

S.2.I. personnel services;

S.2.2. Maintenance and Other Operating Expenses (MOOE);

S.2.3. capital outlay; and

S.2.4. special projects.

S.3. The approved budget is in consonance with the FDP.

IMPLEMENTATION

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

I.2. The financial management personnel are 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 program 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:

I.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;

1.5.14. disaster and risk reduction; and

1.5.15. auxiliary services.

I.6. The budget allotted for specific expenditures indicated in item I.5. is in consonance with existing policies and guidelines.

OUTCOME/S

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