A total of 90 researchers and accounting staff from various DOST-PCAARRD implementing agencies participated in the Financial Monitoring and Management training supported by the Philippine Council for Agriculture, Aquatic and Natural Resources Research and Development of the Department of Science and Technology (DOST-PCAARRD), in support of the Coconut Hybridization Program (CHP) Research.
Organized by the Crops Research Division (CRD), the training aimed to equip researchers with ongoing projects funded by the Council, and accounting staff with essential concepts, practical tools, and strategies to enhance financial management skills. It was held in La Breza Hotel in Quezon City.
Resource persons from DOST-PCAARRD discussed key financial policies, common compliance issues, and best practices in project fund management.
Science Research Specialist Alissa Carol M. Ibarra, of DOST-PCAARRD’s Crops Research Division (CRD) presented the DOST’s guidelines for grants-in-aid (GIA) program and its latest amendments as well as the documentary requirements for project requests.
Accountant Jaivee Ann Tabadero, of DOST-PCAARRD’s Finance and Administrative Division (FAD)-Accounting, discussed the line-item budget (LIB) preparation, fund utilization and accountability, and compliance with relevant issuances of the Commission on Audit (COA), Department of Budget Management (DBM), and Bureau of Treasury (BTR) on inter-agency fund transfers.
In addition, Project Administrative Aide VI Bezalel Ann Alvero of the FAD-Accounting also presented the common observations and financial concerns on submitted financial reports.
Project Technical Specialist Pauline Davis E. Caparas of DOST-PCAARRD's CRD led the workshop on financial monitoring and reporting using a financial monitoring tool for efficient planning and tracking of project expenses. A consultation on the preparation and submission of financial reports and other supporting documents for liquidation of ongoing and completed projects was also facilitated among project proponents and the Project Financial Monitoring and Liquidation Unit (PFLMU) of FAD-Accounting.
Deputy Executive Director for Research and Development (R&D) Juanito T. Batalon encouraged participants to ensure that their financial reporting and liquidation processes are thorough and timely to help ensure the immediate release of funds for future projects.
In her closing remarks, CRD Director Leilani D. Pelegrina emphasized the crucial role of the financial monitoring in the effective implementation of projects and reaffirmed DOST-PCAARRD’s commitment to continuously supporting project proponents.
The training was participated by researchers and accounting staff from the Visayas State University (VSU), Iloilo Science and Technology University (ISAT U), University of the Philippines Los Baños (UPLB), Davao Oriental State University (DorSU), Capiz State University (CAPSU), Romblon State University (RSU), University of Southern Mindanao (USM), Jose Rizal Memorial State University (JRMSU), Philippine Fiber Industry Development Authority (PhilFIDA), and various research centers of the Philippine Coconut Authority (PCA).