Councilors to dissect Panagbenga earnings

THE City Council unanimously approved Monday a proposal for them to scrutinize the audited financial statement of the Panagbenga Festival.

The Committee on Tourism, Special Events, Parks and Playgrounds comprised of chairman Councilor Elmer Datuin and members Councilors Richard Cariño and Perlita Chan-Rondez recommended for the Baguio Flower Festival Executive Committee to submit a detailed income listing from the proceeds of various festival activities in 2012.

These include the Market Encounter, Session Road in Bloom Athletic Bowl stall rentals, sponsorship revenues, donations and other expenses for Panagbenga 2012 with an audited financial statement to the City Council.

The committee explained they will “determine whether or not the City Government of Baguio should still continue to provide financial assistance amounting to at least P5 million a year to the operation of Panagbenga.”

The committee shall also study the possibility of maximizing the income derived from the operation of the income generating activities as substitute funding requirement, in lieu of the financial assistance provided by the City Government of future celebrations of the Panagbenga.

BFFI executive committee co-chairman Anthony De Leon has reiterated in previous press conferences their financial statements submitted to the Securities and Exchange Commission may be freely checked by various groups.

Councilors said they are bound to examine the earnings of the festival to ensure government resources are being spent for the benefit of the public.