A TWO-DAY self-assessment of the performance accomplishments of MSU-IIT’s cost centers opened this morning at the Stargate Dream Vacation Resort in Cagayan de Oro with all cost center heads and their financial assistants, and Institute officials in attendance.
The process, in particular, takes a look at the Work and Financial Plans (WFPs) of the cost centers for the year 2016 and their budget allocations for the year 2017, per quarter.
It also includes an orientation-workshop that will help cost center heads and their financial assistants in preparing their WFPs for the year 2018. The Institute’s budget proposal for the year 2017 has already been submitted to the Department of Budget and Management.
The December 5-6 year-end assessment is organized by the Office of the Vice Chancellor for Planning and Development in coordination with the Budget Management Office.
“This activity allows MSU-IIT to assess how efficiently it utilizes government funds,” Dr. Feliciano B. Alagao, Vice Chancellor for Planning and Development, said.
“From here we can go on to provide recommendations on how we can more efficiently utilize funds in the future,” Alagao added.
Ms Armilyn K. Abragan of the Internal Audit Service Unit of the Institute said that the year-end assessment allows MSU-IIT to evaluate how its cost centers utilized the amounts allotted to them.
“This is also where the Institute can learn where finances allotted to cost centers went to and how these were spent vis-a-vis the accomplishment of targets set,” she said.
“Exercises such as these present MSU-IIT with the opportunity to identify and correct mistakes, and hone its ability to properly program its funds in the future, like in the crafting of the 2018 WFPs,” Abragan added.
To keep costs under control, MSU-IIT held a year-end assessment of Work and Financial Plans (WFP) for the Fiscal Year (FY) 2014 and a workshop for the preparation of WFPs for FY 2015-2016.
Held in Marco Polo Hotel in Cagayan de Oro from October 30-31, the assessment and workshop was the first of its kind for IIT. It was attended by the Institute Chancellor; the Vice Chancellors for Planning and Development, Academic Affairs and Administration and Finance; all Cost Center Heads and financial analysts. Dr. Franco Teves, the Institute Head of Research, represented the Office of the Vice Chancellor for Research and Extension.
The main talking points of the two-day activity were the Annual Accomplishment Report, Performance-Based Bonus (PBB )Targets, consolidation by the Cost Centers of their individual efforts, Civil Service approved teacher and staff evaluation forms, and the raising of graduate passing average in board exams.
Dr. Polaus Bari of the Budget Management Office and Dr. Edgar W. Ignacio, the Vice Chancellor of Academic Affairs critiqued the presentations on the first day; while Teves, Dr. Jerson Orejudos, the Institute Registrar, and Dr. Alita T. Roxas of the School of Graduate Studies gave their comments.
Chancellor Tanggol emphasized in his opening speech that projects should be based on the actual needs of an office, department or college. He also reminded that activities should be created for specific budgets at the same time, he expressed appreciation of the present, transparent way in handling the Institute budget and finances.
Prof. Elmer Nacua, Head of the Human Resource Management Division, on the other hand, explained the Civil Service approved Strategic Performance and Monitoring System (SPMS) which would monitor the performances of both faculty and staff. SPMS had been piloted on the staff this year. Roxas also explained the concept of value-added measures.
It was noted after the presentations by the offices of their 2014 work plans that elements of timeliness and quantitative and qualitative measures were missing. Also, after Bari presented a comparison of budget utilization in 2013, 2014 and 2015, the Cost Center Heads were advised to monitor their fund utilization and not just rely on their financial analysts.
The assessment and workshop was hosted by the Office of the Vice Chancellor for Planning and Development. Beginning next year, it will be conducted twice a year.
According to the Vice Chancellor for Planning and Development, Dr. Feliciano Alagao, the targets to be achieved will cascade to all the Cost Center Heads, and Deans who, in turn, will decide what their Colleges and Schools and Offices will contribute in the achievements of these targets.