PCC ranks 3rd among Department of Agriculture – Attached Agencies for FY 2018 fund utilization

With a budget utilization rate (BUR) of 99.93%, the Philippine Carabao Center (PCC) is awarded as the 3rd top performer in terms of obligation among the seven attached agencies of the Department of Agriculture (DA) during the Fourth Quarter Assessment Meeting for Fiscal Year (FY) 2018 Fund Utilization held last February 8 at the Bureau of Soils and Water Management (BSWM) Convention Hall, Diliman, Quezon City.

The financial assessment meeting is held every quarter to evaluate the performance of the DA, its bureaus and attached agencies and corporations, in spending the national budget. This is anchored on the policy “Government Money Unspent is Service Undelivered”. Under Republic Act 10964, also known as the General Appropriations Act FY 2018, PCC received an allotment amounting to Php506,533,000, incurring obligations amounting to Php506,172,000, thus utilizing 99.93% of the given budget.

The performance ranking of the other attached agencies is as follows: 1st: Philippine Council for Agriculture and Fisheries (PCAF) with a BUR of 99.98%, 2nd: Agricultural Credit Policy Council (ACPC) with a BUR of 99.97%, 4th: Philippine Center for Postharvest Development and Mechanization (PHilMech) with a BUR of 99.11%, 5th: National Meat Inspection Service (NMIS) with a BUR of 93.72%, 6th: Bureau of Fisheries and Aquatic Resources (BFAR) with a BUR of 93.49%, 7th: Philippine Fiber Industry Development Authority (PhilFIDA) with a BUR of 91.85%.

The aforementioned award was later presented to the PCC community last February 11 during the weekly Monday meeting. Dr. Caro B. Salces, PCC Deputy Executive Director, recognized the efforts of everyone, especially the Administrative and Financial Management Division (AFMD), for achieving such a feat. He further mentioned that this was a testament to the steadfast commitment of PCC to one of its core values, excellence.

PCC renews its commitment to timely and accurate financial reporting

The Philippine Carabao Center (PCC) and representatives from its 12 regional centers gathered together to record, classify, summarize and interpret the results of the financial transactions for the year 2018 last January 21-25, 2019 at the Eusebio Hall.

Dr. Arnel N. Del Barrio, PCC Executive Director, reminded everyone of the issuance of Presidential Directive No. 2017-0318, which directs all government offices and instrumentalities to ensure that their transactions and contracts with suppliers and external parties are paid within 15 days, subject to existing laws, rules and regulations. He emphasized that this will promote transparency to the general public, ensuring that the government acts swiftly on the transactions it undertakes.

During the week-long activity, the participants engaged in the following tasks: (1) reconciliation of subsidy accounts and other intra-agency accounts; (2) preparation of adjusting entries for reconciling items; (3) preparation of the trial balance; (4) revaluation of biological assets; and (5) preparation of schedules in support to the notes in the financial statements and their consolidation.

Three personnel from the COA-Government Accountancy Sector, Accounting Systems Development and Other Services Office (ASDOSO), provided technical assistance on the enhanced Electronic New Government Accounting System (eNGAS) and Electronic Budget System (eBudget). Mr. Romeo C. Cruz gave an update on the recent developments of the aforementioned systems such as the added feature of being able to edit the supporting documents. This addressed the problem of having typographical errors in the reference numbers. Meanwhile, Ms. Michelle M. Gagarra and Ms. Sarah Joy M. Lambino, addressed concerns on the issues surrounding their usage, and updated them about the latest version.

Ms. Cherry Pearl C. Rivera, head of the Accounting Section of PCC-National Headquarters, recognized the vital role of every participant in the completion of the consolidated financial statements in compliance with the requirements of the Commission on Audit (COA).