F.R.A.T. – A Guide To Managing our Project Funds

  

Actions pertaining to receipts, custody and disbursements of UPBSFI, Inc. project funds shall be based on the acronym FRAT - Fiscal Responsibility, Accountability and Trustworthiness (which subsumes Transparency).
 
Responsibility includes keeping and maintaining financial records within universally accepted accounting principles and practices. To the extent possible, all transactions should be (a) relevant e.g. no booze, girlie shows and the like, (b) reasonable i.e. cost of goods/services procured are within market rates, and (c) responsive i.e. according to a work program and/or a planned schedule. In the case of our Reforestration Project, Project Manager JR recently asked Shan Buyco for a GANTT CHART that will partly serve as a basis for disbursements. Ultimate responsibility lies in the President/Chairman of the Board, and under the principle of "command responsibility", the President/Chairman may either be impeached or asked to resign depending on the extent of his culpability. 
 
Accountability lies on the assigned Project Manager, who shall be responsible to the Board of Directors. The Project Manager at the local level (that's Shan Benjamin Buyco) shall be accountable to Brod JR, the Project Manager. To help PM JR on the task of managing the project on our behalf, I assigned the following Brod-experts to be Project Consultants, namely (a) Former DENR Undersecretary Rene de Rueda, who will be conducting actual site visitations and (b) Cosme Santiago, who has an experience with a similar project. We will work from the dictum that accountability cannot be delegated. Failure to appropriately account for, or reasonably explain, a transaction shall be considered an offense made against the Fraternity and, therefore, subject to penalty. The penalty will be subject to due process by a body created for the purpose.
 
Trustworthiness is a product of our proven integrity, capability and competence to manage our money and all the donations that we have solicited to support a project. It is one that we earn over time with our publics -- by submitting truthful and comprehensive reports regularly, and verified as to the correctness and authenticity by our Auditor Dan Lachica. Official Receipts shall serve as supporting documents in every transaction. In the case of the UPCV Reforestration Project, a quarterly progress report may be necessary.
 
Transparency of our financial transactions implies an open book policy. Transparency breeds trustworthiness. The more transparent we are, the more trust we will generate from our stakeholders and donors. The more trust, the more support we get. It's a healthy cycle that will redound in a durable, honorable and responsive UPBSFI, Inc.
 
The above-mentioned guidelines shall apply to all UPBSFI, Inc. projects.

 

Willie "Tatang" Vergara, 7-10-2008

 

********************************************************************************************************

 

                             U.P. VISAYAS CENTENNIAL FOREST PROJECT

 

Brods,
 
Please see below in one Excel file (four different worksheets) the following:
 
1. A PERT CHART (no CPM as labeled)
2. A Gantt Chart
3. Project Cost Estimation
4. Seedlings Inventory
 
Also below please see relevant communications, saying among others, that this shall be called The Betan Alumni Park; that the project will be undertaken in three phases; that the $500 is an initial release of a total of $1,000 for this particular year; that the Brods have finished putting up the perimeter fences; ongoing participation for freshmen and sophomores. For more details, we may also visit the website:  http://centennialforest.wordpress.com/ (These should also answer Brod Ed Quisumbing's questions regarding project plans, schedules, etc.)
 
It will also be of interest to all of us that we expect to be able to recruit a handful (at least ten?) owing to the visibility of this particular project. We will appreciate a report from Brod Shan in this regard.
 
As ever your servant,
 
Willie "Tatang" Vergara

 

 **Click picture to see UP Visayas Centennial Forest Excel file --->  

          

-------------------------------------------------------------------------------------------------------------------------------------------------

 

Date: Thu, 10 Jul 2008 22:51:00 -0700
From: shanbuyco@yahoo.com
Subject: Re: UPV Centennial Forest - UPDATE FROM BROD SHAN BUYCO - FUND MANAGEMENT
To: renederueda@yahoo.com; regadiojws@yahoo.com
CC: cosme_santiago@hotmail.com; tatang_up@hotmail.com; upv_tabets@yahoogroups.com

 

Date: Sun, 15 Jun 2008 23:54:26 -0700
From: shanbuyco@yahoo.com
Subject: UPV Centennial Forest
To: tatang_up@hotmail.com; bong73b@gmail.com; regadiojws@yahoo.com; cosme_santiago@hotmail.com; renederueda@yahoo.com; ACCRIADOR@dow.com; dcsukw@yahoo.com; jtetangco@devconceptsph.com
CC: upv_tabets@yahoogroups.com

Dear Brod Tatang:

 

Here are the latest updates for the Cenennial Forest.

1.) The Brods have successfully placed perimeter fences surrounding our alloted area (1st hectare only. 2nd hectare in 2009 and 3rd hectare in 2010).

2.) We now have sufficient seedlings thanks to various Betan donations.

3.) Digging at the area started 14 June 2008; and every weekend until 26 July 2008 (which is the date of the official launch of the project).

4.) Letters were sent to other student organizations for their participation already. Positive feedback, generally.

5.) Coordination with ROTC for participation of freshmen and sophomores on-going. We expect positive results from these negotiations. Subtle recruitment strategy.

6.) Bank Account - Landbank of the Philippines, SA account number 3051-0292-74 Account Name - Froilan B. Nazareno IN TRUST FOR UPV BETA SIGMA FRATERNITY ALUMNI ASSOCIATION, INC. 

7.) NEW WEBSITE: http://centennialforest.wordpress.com/  - we experienced problems from the last address.

We do not have enough resources as of this writing and basically are just being "creative" muna. We'd really hope more support from the rest of the Betan-world.

 

Will keep you posted. 

 

Shan

UPV 1993-B

 

-------------------------------------------------------------------------------------------------------------------------------------------------