PCAARRD and BCAARRD jointly conduct “Seminar on Financial Management”Tuesday September 10,2019
Responding to the call of the Commission on Audit (COA) for an accelerated liquidation effort and a fully accounted financial management, the Philippine Council for Agriculture, Aquatic and Natural Resources Research and Development (PCAARRD), in coordination with Bicol Consortium for Agriculture, Agriculture and Natural Resources Research and Development (BCAARRD), came up with a “Seminar on Financial Management”, held last 29 to 30 August 2019 at Casa Basilisa in Guinobatan, Albay.
This seminar aims to capacitate Financial Management personnel of every member of all Consortia in the country to be able to respond to COA’s call. The participants from BCAARRD’s Consortium Member Institutions were composed of the accounting personnel, budget officers, program leader and project leaders from the thirteen agencies who attended the seminar.
At the start of the activity, Dr. Marisa N. Estrella gave the welcome address while Dr. Melvin B. Carlos, Deputy Executive Director of PCAARRD, delivered his opening remarks. In Dr. Carlos’ remarks, he mentioned that seminar conducted with BCAARRD is the second out of ten seminars for the year, wherein the PCAARRD team is visited the Consortia for the conduct of the seminar.
The PCAARRD’s efforts to increase the research and development (R&D) projects in the country is geared towards Ambisyon 2040. The R&D fund reached 8 billion pesos, where 3 billion out of the 8 billion pesos is with PCAARRD. Wherein the growth in rank in global innovation index from 73 out of 128 countries to rank 54 out of 128.
He mentioned that before the continuing provision of funds in order to innovate for the utilization of research results, fully accounted financial management must be observed, hence, the conduct of the seminar.
As part of the program’s rationale and leveling off, participants were asked to write down their expectations categorized as topics, resource person and co-participants. Most of the expectations for the topics were: Line Item Budget preparation; Financial Reports; formats of financial reports; reconciling fund transfer from old projects and completed projects.
Due to being occupied by other pressing matters, the message of the Bicol University President, Dr. Arnulfo M. Mascariñas, was delivered by Dr. Amelia A. Dorosan, BU’s Vice President for Research, Development and Extension (VPRDE).
The first topic discussed was the “Guidelines of GIA-funded Projects”, presented by Ms. Ma. Josette San Luis. The guidelines were from the Department of Science and Technology (DOST) Administrative Order 009 series of 2017 and DOST-PCAARRD A.O. No. 198-B s. 2019.
The workshop for the topic was the LIB Preparation and Realignment. An Open Forum followed where problems and issues in respective agencies were discussed. The next topic was the new report formats required by the revised DOST-GIA Guidelines, discussed by Ms. Carolina T. Busque, Accountant III of PCAARRD.
On the second day, the ‘Clarifications on PPSAS 17’ on equipment outlay was discussed by Ms. Busque. She asked the accountants from the agencies present about their current practices in relation to how equipment outlay is treated.
It was found out that the equipment outlay is interpreted differently by each of the agencies. The discussion ended with the submission and reconciliation of financial reports and other supporting documents for liquidation of completed projects.
During the closing ceremonies, the participants were asked to express their learnings and feedback, before proceeding to the awarding of certificates to the participants. Bicol University and BCAARRD were given a Certificate of Appreciation as Host Agency and Host Consortium, respectively. Dr. Marissa N. Estrella’s closing remarks marked the end of the Seminar on Financial Management. (Ms. Maria Gracia N. Sanchez-BUTC)