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Parameter G
SYSTEM – INPUTS AND PROCESSES
S.1 There is a sound system of management and financial control.
S.1 There is a sound system of management and financial control.
The Financial Management and Control of the Polytechnic University of the Philippines encompasses strategic planning, organizing, directing, and controlling of financial undertakings. As a Higher Education Institution (HEI) governed by the state, the PUP is expected to follow the policies of regulatory agencies in fulfilling its mandates efficiently and effectively.
The Financial Management and Control of the Polytechnic University of the Philippines encompasses strategic planning, organizing, directing, and controlling of financial undertakings. As a Higher Education Institution (HEI) governed by the state, the PUP is expected to follow the policies of regulatory agencies in fulfilling its mandates efficiently and effectively.
PLANNING
ORGANIZING
DIRECTING
CONTROLLING OF FINANCIAL UNDERTAKING
IMPLEMENTATION
I.1. Policies and system of financial management and control are developed and implemented with the involvement of administrators, faculty, and, where appropriate, students.
I.1. Policies and system of financial management and control are developed and implemented with the involvement of administrators, faculty, and, where appropriate, students.
Budget Preparations, Budget Partnership Agreement, and University Budget Dev't. Coordinating Committee (UBDCC)
Budget Forum
University Fiscal Calendars
Internal Operating Budget
Program of Receipts & Expenditures
Income Estimates
I.2. Concerned officials, faculty, staff, and students participate in budget preparation, allocation, management and control.
I.2. Concerned officials, faculty, staff, and students participate in budget preparation, allocation, management and control.
I.3. Resources are allocated to authorized expenditures to implement academic programs, research, extension, and other projects as included in the institutions program of expenditures.
I.3. Resources are allocated to authorized expenditures to implement academic programs, research, extension, and other projects as included in the institutions program of expenditures.
I.4. The Institution is able to communicate with its key stakeholders.
I.4. The Institution is able to communicate with its key stakeholders.
OUTCOME/S
O.1. Operations are efficient, effective and responsive to challenges and changes.
O.1. Operations are efficient, effective and responsive to challenges and changes.
O.2. The budget of the institution is well-prepared, judiciously allocated, effectively utilized, clearly accounted and fairly audited.
O.3. System and the processes reflect sound management, financial control, and quality assurance.
O.4. Stakeholders are satisfied with the governing body and management’s implementation of their commitments.
BEST PRACTICES
1. The PUP Income Generation Project Evaluation Committee (IGPEC) oversees the soundness and viability of all of the university's solely business-related initiatives. Its major goals are to assist the University increase the financial capacity and evaluate new sources of income. Additionally, it forges and creates connections with public and private institutions to improve the university's many commercial ventures. The IGPEC continues to implement the stringent criteria of evaluating and endorsing notable IGPs. It aims to identify, track, retain, and reward the strongest service providers for the various IGPs in the University. All IGP proposals that have undergone review and evaluation by the Committee shall be endorsed to the PUP Finance Committee for review and endorsement to PUP Executive Committee (EXECOM).
2. The PUP Finance Management Portal is a web-based, integrated system that covers specific budget services, accounting, fund and resource generation, procurement, property and supplies management processes, functions, and service of the University to improve convenience, efficiency, accuracy and timely fiscal management and reporting. The Online Payment for ODRS through Link.BizPortal was implemented on June 2, 2022. It provides convenience as more paying options are available, and efficiency of higher payment security and contactless transaction with minimal fee.
3. The judicious manner of prioritizing the projects for funding using the Funds Prioritization Criteria Matrix helped the UBDCC decide scientifically on which proposals to focus on to avoid arbitrary approval of projects.
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