Saturday, February 02, 2008 Afrena 7 asks foundation for audit of Sinulog expenses
THE Association of Former Regional Executives of National Agencies (Afrena) passed a resolution requesting the Sinulog Foundation Inc. to submit an accounting of its income and expenditures for the last five years.
Afrena, a resolution, said the financial statement should be “duly audited” by a private and independent auditing firm and is aimed to “to negate and nullify doubts and apprehensions as to how its finances are being managed, thus protecting the good name of the group.”
In its regular monthly meeting last Thursday, Afrena also agreed to furnish copies of its resolution the chairman and members of the board of the Sinulog Foundation, Cebu City Mayor Tomas Osmeña, the rector of the Basilica del Sto. Niño and Cebu Archbishop Ricardo Cardinal Vidal.
Those who voted for the passage of the resolution were Afrena 7 presiding officer David S. Odilao Jr., Antolin dela Serna, Dodo Abella, Ted Segura, Ireneo Morales, Benjamin Divinagracia, Roger Dienla, Benito Diamos and Florencio Villarin.
Odilao was the one who started the Sinulog sa Sugbo and was called the “Father of Sinulog” after he turned over the activity to then Cebu City Mayor Florentino Solon.
When sought for comment, Sinulog Foundation executive director Ricky Ballesteros said that Afrena has already received a copy of the foundation’s financial audited report—the same one they submitted to the Securities and Exchange Commission (SEC) last year.
He said that since Sinulog is being held every third Sunday of January, their audited financial report is based on the fiscal year.
He said the foundation is still collating the expenses and payables for Sinulog 2008. The audit will start in March and may be completed by May yet.
So, they may be able to submit their financial report to SEC in July.
“In fairness to my predecessor, Dodong Aquino, they submitted a yearly audited report to SEC. During my time, there is no SEC penalty, which means, we have an updated accounting system,” Ballesteros said.
He also said that he will talk to Odilao one of these days so he could enlighten the Afrena 7 official of the foundation’s finances.
Ballesteros said he is happy that Sun.Star Cebu sought his comment because some one had told him that there were reports over the radio that some foundation officials benefited from the celebration.
“I want to inform the public that I and Dolly Suzara, the project director, received an honorarium of only P8,000 each and a take-home (pay) of only more than P5,000 minus the withholding tax,” Ballesteros said. (EOB)
