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Sunday, November 20, 2005
Accounting for fundraisers
DO funds donated for a good cause end up in the right hands?
Cebu City Councilor Hilario Davide III wants private and public organizations that engage in fundraising activities to publish their financial statements on these projects.
Davide finds the need to protect the integrity of the institutions and for the public to know what is being done with the money they contributed.
Complaints, he said, were usually about funds being “misappropriated.” Others pointed out that after the fundraiser, “nothing more was heard from the association, institution or agency initiating the same until the next fundraising activity.”
“It cannot be gainsaid that the funds generated by such fundraisers are imbued with public interest. Indeed, the contributing public was induced to give something because of representations that the money raised would be used for a specific noble purpose,” said Davide.
Publish amounts, expenses
He filed last Wednesday a draft ordinance requiring organizations that solicit funds in the city to publish, in a local daily of general circulation, their financial statement within 30 days after the conclusion of their fundraising activity.
He proposed that the statement indicate the name of the contributor or donor, the amount donated and the expenses incurred.
Davide also incorporated in his proposed measure that the organization that refuses to cooperate will be fined not less than P500 or not more than P2,000, be jailed for not less than 30 days or not more than three months, or face both penalties at the discretion of the court.
This way, fund drives and fundraisers are protected to the end and contributions are properly accounted for and used.
The council referred the proposed measure to the committee on laws and good government for review. (GAC)
(November 20, 2005 issue)
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