School has been operating at a loss for the last 2 years-A A +A
Thursday, March 14, 2013
CEBU City Medical Center’s (CCMC) College of Nursing is spending more than what it earns.
Mayor Michael Rama, though, is not worried. He said what is important is that education is being granted to the city’s constituents.
“You don’t think how much you’ve spent because education is an investment. The education you give to the students is unquantifiable,” he said.
Since it started operations 14 years ago, the school’s annual income usually fell short of its annual expenses.
Based on its records, the school earned over P1 million in 1999 but it expenses reached P5.2 million. In 2000, the school earned P1.3 million but spent P5.1 million.
In 2001, it earned P2.2 million but spent P5.5 million.
The school also only earned P3.3 million but spent P5.9 million in 2002; earned P4.5 million but spent P5.6 million in 2003; earned P4.4 million but spent P5.6 million in 2004; and earned P5.9 million but spent P6.5 million in 2005.
Making money, at last
It was only in 2006 when the school started generating revenues. That year, its income was P7.9 million, while its expenses were P5.8 million, or revenues of over P2 million.
In 2007, the school’s income reached P9.9 million and it spent only P7.3 million, or revenues of around P2.5 million.
In 2008, it earned P10.7 million and spent P8.1 million, or revenues of P2.6 million.
In 2009, the school’s revenues almost doubled and reached P4.5 million. The school’s income that year was P12.2 million and it only spent P7.2 million.
In 2010, the school’s revenues dropped to P3 million. The school earned P10.7 million and spent P7.7 million.
The school started earning after it gradually raised the tuition of first year students.
It was only in 2010, though, when the school raised the tuition of all students.
The school currently charges between P5,000 and P9,000 for first year students;
P17,000 for second year students; P15,000 to P19,000 for third year students; and P19,000 to P21,000 for fourth year students.
In the last two years, the school has been operating at a loss.
In 2011, it earned P9.3 million, but its expenses reached P9.6 million.
Last year, it earned P7.2 million, but it spent P9.7 million.
In an interview with Sun.Star Cebu yesterday, CCMC College of Nursing assistant dean Rosalita Manlunos said their expenses go up every year since they purchase nursing book, supplies and different equipment like those being used in demo nursing procedures.
Asked where they get the money to pay the salaries of the school’s 24 teachers and four staffer, Manlunos said the money is taken from the annual subsidy that the City Government extends to the school.
This year, he said, the City gave the College of Nursing P12.4 million.
Manlunos said their teachers and staffers receive a monthly salary of P18,500 to P35,000, depending on their ranks.
Published in the Sun.Star Cebu newspaper on March 15, 2013.