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Parameter D
Governance and accountability are the key drivers reflective of the good practices among the SUCs in the Philippines. The fundamental tenet of PUP is good people equal good government. Thus, the University is committed to fostering excellence in all critical facets of education: teaching, research, extension, community service, production, industry-academic collaborations, local and worldwide connections, and stakeholder empowerment.
In order to ensure governance and accountability, PUP continues to uphold and anchor its governance conditions based on the performance drivers of the Results-Based Performance Management System (RBPMS): financial stewardship, internal process, leadership, learning, and growth.
PUP remains vigilant in ensuring compliance with the law through monitoring and evaluation mechanisms like compliance with the Government Accounting Manual (GAM) for National Agencies, regulatory reporting set by Internal & External Auditors, DBM Circulars, and CHED Memorandum and Circulars.
D.1 FINANCIAL MANAGEMENT SYSTEM
The University’s financial matters, since its foundation, are directed by the University President to the Chief of the Cashier’s Office or the Chief Accountant. However, in 1986, the Office of the Vice President for Administration and Finance was created with two directors leading the office – the Administrative Sector and the Finance Sector. The latter was in-charge of the University’s financial management through the Accounting Department, Budget Office, and the Cashier’s Office.
In 1999, the Office of the Vice President for Finance was created as one of the approved Revised Organizational Structure of the University in consonance with R.A. 8292, otherwise known as the Higher Education Modernization Act of 1997 that empowers State Universities and Colleges (SUC) in the Philippines to engage in corporate activities in order to generate revenues. The operations of the Finance Division were further expanded by the creation of the Business Operations Division (then known as the Resource Generation Office).
Today, the Office of the Vice-President for Finance (OVPF) is headed by Vice President Marisa J. Legaspi. The OVPF envisions a finance unit that manages efficiently, effectively and prudently financial resources of the University and ensures compliance with the government rules, policies, and regulations.
The Office of the Vice President for Finance (OVPF) monitors the operations of four departments. OVPF endorses all financial related transactions to the University President and the BOR for approval.
The Accounting Department (AD), Budget Services Office (BSO), and Fund Management Office (FMO) work together to facilitate settlement of University obligations endorsed by the OVPF. The BSO certifies allotments while AD prepares Disbursement Vouchers (DV) with appropriate supporting documents and ultimately the FMO prepares and releases payments once approved by the Vice President for Finance or the President.
The Resource Generation Office (RGO), on the other hand, works as a marketing arm of the University. The primary task of the RGO is to look for possible projects that have financial benefits for the University. The additional income generated by the University through RGO will augment priority programs and projects approved by the BOR.
D.2 MONITORING OF THE UTILIZATION OF FUNDS
D.2 MONITORING OF THE UTILIZATION OF FUNDS
The University maintains 4 (four) funds from various sources, namely: General Fund (Fund 101), Special Trust Fund (Fund 164), Regular Trust Fund (Fund 184), and Revolving Fund (Fund 163). They are described below, to wit:
The Regular Fund (Fund 101) is the appropriation incorporated in the Annual General Appropriations Act (GAA). Consistent with the approved budget program, the BSO records the appropriations in the Registries by expense classification. Recording is done for every transaction to prevent the incurrence of obligations in excess of allotment. The report of the balance of the General Fund must be available at any time, especially every month end to be used for decision making of the Management.
Special Trust Fund (Fund 164) represents the income of the University derived from the collection of tuition & miscellaneous fees, business concessions, professional development training and special projects
The Obligations are encoded in the database created by the Budget Services Office. A reconciliation between the BSO and Accounting Department is regularly done to update and monitor the adjustments on the obligations and disbursements. The BSO submits a monthly Statement of Allotments, Obligations and Balances (SAOB) to the Office of the Vice President for Finance for decision making affecting the University Budget.
The Regular Trust Fund (Fund 184) are collections from non-income sources authorized by law for specific purposes such as research grants from private and government grantors and other payables. The Accounting Department maintains Subsidiary Ledgers for every source of funds collected through Fund 184. A Fund Status Report can be generated every time the balance of a certain fund is needed.
The Revolving Fund (Fund 163) are resources derived from business type activities such as income from Canteen Services and Dormitory/Hostel. These funds are self-liquidating and monitored by the Accounting Department and reported periodically to the top management.
D.3 CITE THREE LATEST PROJECTS WHERE FUNDS
D.3 CITE THREE LATEST PROJECTS WHERE FUNDS
HAVE BEEN UTILIZED
HAVE BEEN UTILIZED
Funds provided by agencies and individuals are used for the intended purposes.
D.4 CITE AT LEAST THREE DISTINCT PREVAILING BEST PRACTICES
D.4 CITE AT LEAST THREE DISTINCT PREVAILING BEST PRACTICES
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