Housewifely Analysis of PCS Financial Report 2007-2008 -by veronica cadag-ugates PDF Print E-mail
Tuesday, 03 February 2009
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Housewifely Analysis of PCS Financial Report 2007-2008 -by veronica cadag-ugates
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Therefore, it follows that  they should also be allowed air fare only every 2 years, so why are they going home every year? They could have alternated and provided the students some spring activities since they are paid anyway and it could have been a saving of another $ 10,000.00/ year. Further, this round trip fare should not be business class tickets even for the principal and Sr. Eva. If they want business class tickets the difference should come from there own pockets and not from the overburdened school’s funds.

Registration & other fees –
What this signifies or where they have paid this amount is also a question. Since the school is operating under the auspices of the embassy, presumably it is not paying any form of registration in this country. Otherwise, the school will be required to pay taxes which clearly it is not doing. Does this mean that the school paid this registration to the Philippine Securities and Exchange Commission towards the ambitious project of making it international in nature? The problem with that is the fact that the school is community-owned.  

Therefore it should be the owners who must apply for it not the BOT or the school administration. But would the parents want to double the tuition fees in order to match the international standards that the BOT wants? For surely the tuition would increase since there would be additional personnel to cope with the additional 2 years of school, namely,  Eleventh and Twelfth Grade. On top of that, there are requirements that the school has to meet in order to achieve such standards. 

ImageOne of them is to qualify for an international exam and therefore additional subjects with emphasis in English, Mathematics and Science embracing all areas in these three main categories.  In this connection, the school should have better than average English teachers. Granting therefore, that the parents  are willing,  the teachers and the principal have to be replaced since they do not even know what integrity nor privilege information meant. It would be a pity if the school becomes only international in name but not in nature. On the budget proposal 2007- 08, there was a mention of gratuity deposit of $ 11,050.00 which is already deducted from the school’s finances even if it has not yet been given to anybody.

Is this the separation pay mentioned in the expenditures? If not, the question is: In which bank and in whose name is this deposit kept?  Meanwhile this gratuity should be part of the school’s assets for as long as it has not yet been granted.

One other thing that came to my knowledge from 4 different sources is that for every item sold in the canteen, the school gets LD 0.250/item. Considering that there are 360 students for the past year one third of these students can generate at the least the amount of LD 25.000 /day for the school multiplied by 5 days = LD 125.000 x 4 weeks = LD 500. 000 x 10 moths = LD 5,000.00 yet nothing is reflected of the school canteen’s income for the school. Where is this money? Not to mention the income from the past years.

Then we come to the fund raising every year. Last school year, I remembered a Valentines Disco which involved a ticket of LD 1.000 x 10 tickets =LD 10.000/ student. Granted that only 300 students sold their tickets, that is still LD 3,000.00 . Where is this money when except for tuition fees there is nothing reflected in the school’s takings? Had it similarly disappeared like the LD 42,000.00 of 1992?

Based on my method which is not perfect but can at least show where the BOT had abusively granted remuneration indiscriminately, the school could have saved the following amounts for the school year 2007-2008:
                    13th month pay-                   $   5,750.00
Incentive leave pay             $ 20,550.00
COLA                                    $ 10,000.00
CASH GIFTS                         $   3,000.00
HONORARIUM                      $   4,884,62

Flight fare savings                $ 10,000.00

???Registration fees             $   ???????
???Gratuity                           $ ???????
Canteen income                   $   5,000.00
Fund raising                         $   3,000.00

                              TOTAL                            +   $ 62,184.62

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