PSC welcomes budget increase
MANILA, Philippines - The Philippine Sports Commission will have a couple of millions more in its pocket for 2014 courtesy of the Department of Budget and Management (DBM).
Chairman Richie Garcia of the PSC yesterday briefed mediamen on the agency’s budget for next year which increased from P207 million this year to P214 million.
“There’s an increase of around P7 million. But anything that is given to us we can make do with it,” said Garcia at his office at the PSC administrative building.
The budget that comes from the General Appropriations Act (GAA) is spent on infrastructures, the day-to-day PSC operations and maintenance, and the salaries of its officials and employees.
The main bulk of the PSC’s annual budget, known as the National Sports Development Fund, comes from monthly contributions from cash-rich government agencies like Pagcor and PCSO.
The NSDF, which amounts to close to P500 million a year, feeds the close to 50 NSAs (national sports associations), and the needs of all the national athletes and coaches, including allowances.
Garcia welcomed the new budget for 2014.
He said right now, the PSC has around more than P300 million in the bank, but clarified that the money is already “obligated” to specific projects and programs.
Having a huge amount in its savings, Garcia said, is the result of the PSC’s full compliance with the Commission on Audit (COA) and its strict rules on liquidation.
Garcia explained that an NSA with unliquidated cash advances can no longer receive further cash advances from the PSC until the time they settle their obligations.
“If you fail to liquidate you can’t receive additional financial assistance. The amount that we cannot release stays in the bank. And carried over the last three years, we have this amount right now,” he said.
Garcia said over P200 million of the PSC savings is already allocated for certain projects, mostly in renovation and construction of sports venues and facilities.
“That’s where the savings will go because the DBM cannot provide for all these anymore,” said Garcia, referring to projects for the football, track oval, tennis courts, bowling and table tennis venues, gyms and dormitories, cafeteria, equipment and other grassroots programs.
“Then whatever is left of the P300 million is saved for contingencies and other needs,” he said.