MANILA - To provide further support to field offices and schools nationwide, the Department of Education (DepEd) maintained its 96 percent budget utilization rate (BUR) for 2021 despite the challenges brought about by the Covid-19 pandemic. "For 2021, we are aiming to maintain 96 percent or even surpass 97 percent for BUR. And I would like to congratulate and thank everyone despite Covid, 'yung iba pong department nag-stop, or talagang na-suspend but DepEd continues to operate despite 2020 is a Covid year and [in] 2020, we were able to actually implement 96 percent of our total funds," DepEd Undersecretary for Finance Annalyn Sevilla said during the Department's General Assembly 2021. Recording an 8 percent increase in BUR from 88 percent in 2015 to 96 percent in 2020, Sevilla attributed the achievement to the simplification of public financial management processes and decentralization of fund management, which promotes accountability, transparency, and competency as
MANILA - State pension fund Government Service Insurance System (GSIS) is not affected by its recent shift to Philippine Financial Reporting Standard (PFRS) 4 and is capable of paying its financial obligations to members and pensioners. PFRS 4 requires the reporting of future social benefit liabilities in its financial statement. GSIS president and general manager Rolando Macasaet said in a statement on Friday that there will be no disruption in the payment of benefits to its members and pensioners as "the new accounting standards "will not adversely affect our capability to provide their benefits, as and when they fall due." In its audited 2020 financial statements, GSIS posted a strong cash position in 2020 at PHP26 billion. "Our cash flow projection for the next five years shows that we can cover all our obligations," Macasaet said. "PFRS 4 offers an understanding of the longer-term financial sustainability of GSIS that involves projections and economic
The Government Service Insurance System (GSIS) unveiled on Tuesday, Nov. 30, its new branding campaign dubbed "Ginhawa for All."
GSIS In a statement released Wednesday, Dec. 1, GSIS President and Manager Rolando Ledesma Macasaet said the rebranding program aims to make its products and services
P65B in multi-purpose loans granted by GSIS mb.com.ph - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from mb.com.ph Daily Mail and Mail on Sunday newspapers.
GSIS multi-purpose loans hit P65-B mb.com.ph - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from mb.com.ph Daily Mail and Mail on Sunday newspapers.