The Philippine Council for Agriculture and Fisheries (PCAF) recently gained recognition towards improving and harmonizing its financial management processes through proper utilization, disbursement and obligation rates.
Early this year, PCAF landed fifth out of 40 Department of Agriculture’s (DA) bureaus, attached agencies and regional offices for “consistently maximizing the use of available cash balances every end of the month” from January to December last year.
PCAF’s Accounting Section received the award on January 28, 2020 during the Fiscal Year 2019 Year-end Financial Evaluation and Assessment Workshop in Iloilo City.
The workshop ensures all DA bureaus, agencies and offices involved in financial transactions and committed to good governance are properly guided and updated with relevant fiscal policies and issues, particularly in budgeting, accounting and auditing rules and regulations.
Aside from the award, PCAF Resident Auditor, Edwina C. Dollente also issued an audit observation memorandum “recognizing the efforts of the management for the adequate management of its fiscal responsibilities and accomplishment of programmed and planned activities scheduled for 2018, thus resulting in high utilization of the allocated fund and physical delivery rate”.
“Despite these achievements, the PCAF’s financial management process is still a work in progress and there are still number of improvements that need to be done, and challenges remain,” said PCAF Chief Accountant Maria Divina Gonzales.
In 2019, PCAF also topped the list of financial performers among DA’s attached agencies in terms of Obligation Rates for 2018. jc| ###