The Management Committee met on April 6 to discuss the open items and decide on key items. The Annual Report for 2021 is also due for completion by the third week of April, and for printing and distribution in May. Pres. Val shared the progress of the strategic plan ad hoc team as regards the VMO and the action plan. Chicho Mantaring, Ega Atanacio, and Alexis Acacio presented updates for the Innovation, Finance, and Resource Generation Committees, respectively. Finance and Investment Officer Mike Magana also presented the updated financial statements of the foundation, which will be finalized after the audit by April 18. The draft Membership and Financial Stewardship policies have been sent via email to the ManCom members for initial comments.
ED Tito reported that the revised budget has been approved by the Board by referendum. The 2022 Budget adopts a change in approach, as we have split it into two sections: one showing the mainstream spending items where UPERDFI is responsible for fund-raising. This we call UPERDFI Operations. The other is where UPERDFI functions as a fund administrator for specific project funds raised from specific donors by non-UPERDFI efforts, or what we call Pass-through items.
In 2020, our UPERDFI Operations showed total actual spending of P26.4 Million, while the 2022 budget shows P58.7 Million. The major increase comes from the P20 Million HPC Project, the Teaching and Research Awards, the UPERDFI-funded Research Projects, and the Golden Jubilee Event and Book Projects.
The Pass-through budget is pegged at P40.5 Million, up from P5.6 Million in 2021. The jump comprises the major fund-raising projects of the Dept. of Industrial Engineering and Operations Research “Golden Pillars Campaign”, the Dept. of Chemical Engineering “Catalyzing Honor and Excellence Campaign”, and the donor-sponsored innovation projects administered by UPSCALE.
The consolidated spending budget is P99.2 Million, compared to the actual P31.2 Million in 2021.
The ManCom will meet again on May 4 to prepare for the General Membership meeting. The draft agenda has been presented to the committee and will be circulated to the membership.