University News

OVPF hosts budget forum

Melanie Jimenez, News, Communication Management Office

The Office of the Vice President for Planning and Finance (OVPF) recently held a forum from March 12th to 14th, at Bulwagang Bonifacio, aimed at enhancing understanding and capacity regarding the fiscal year 2024 Budget Execution Process.

The forum, attended by various PUP offices, units, and campuses, had several objectives, focused on ensuring the timely implementation of FY 2024 programs, activities, and projects within the fiscal year and achieving a higher budget utilization rate (BUR) for performance incentives.

Prof. Alberto Guillo, the Vice President for Planning and Finance, emphasized the importance of planning adjustments and modifications to the budget. He highlighted that optimal utilization of limited resources is essential for achieving organizational goals.

“Planning adjustments and modifications to our budget is imperative. The optimal utilization of our limited resources will propel us towards achieving our goals,” he stated.

During the forum, discussions revolved around approved budget allocations for various offices, covering procurement activities, common-use supplies, and ICT budgets. Procedures for requesting design, layout, and cost estimates for infrastructure projects were outlined to ensure transparency and efficiency.

The fiscal year 2024 budget also includes provisions for other supplies, materials, and facility repairs, vital for operational capabilities. Additionally, there was a reiteration of the implementation of Executive Order No. 20, Series of 2021, emphasizing adherence to guidelines for financial transactions to maintain accountability and transparency.

Prudent financial management and effective resource utilization were emphasized in the forum to support organizational objectives and initiatives in fiscal year 2024.