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Franzine F. Foronda
Councilor
UP Diliman University Student Council
A.Y. 2015-2016
Rationale
The Finance Committee is a standing committee for a reasonto execute any form of
initiative, especially those for the benefit of the UP students, the University Student Council (USC)
needs funding more often than not. This funding comes mostly from the Student Fund paid for by
each and every UP Diliman student, as well as the solicitations we get from generous donors and
sponsors. As such, it is the USCs responsibility to ensure that its funds are used as properly, ethically
and efficiently as possible, and that the usage of these would be known to our constituents through
measures that promote and uphold financial transparency and accountability. The Finance
Committee, particularly the USC Treasurer, embodies and carries out this role.
In particular, it is enshrined in the USC Constitution that the Treasurer shall:
(a) Act as a Custodian of the deposits in the bank of the funds of the Council;
(b) Keep a record of the funds of the Council;
(c) Disburse the same in accordance with an appropriation of the Council;
(d) Submit a financial report at the end of each semester to the Council, which shall be
published in the Philippine Collegian;
(e) Head the Finance Committee.
Given this, the Finance Committee is thus in charge of ensuring the most efficient execution
of the projects and initiatives of the USC through proper controls and budget allocation. In addition,
this years Finance Committee will take it upon itself to make it easier for student councils and
organizations to comply with the University Financial Transparency Reporting Standards (UFTRS). The
Finance Committee this year will also be a springboard for campaigns on financial transparency and
accountability within the university.
Objectives:
The Finance Committee shall:
Oversee the financial activities of the University Student Council, including but not limited to,
authorization of disbursements, issuance of acknowledgment receipts, recording of
transactions and generation of the financial statements in compliance with the UFTRS
Ensure the allocation of USC Funds in a manner it deems reasonable among its committees.
Oversee the optimal usage of the resources of the University Student Council through the
implementation of proper internal controls
Initiate campaigns that will forward the cause of Financial Transparency and Accountability
within the University
Committee Structure
Treasurer
Book Keeper
Treasurer
Book-keepers
Auditor
Finance Operations
Director
Petty Cash
Custodian
UFTRS
Compliance
Head
Auditor
Finance
Operations
Director
II.
III.
IV.
V.
UP the Budget
This initiative of the Finance Committee will be in partnership with the Education and
Research Committee. It aims to analyse UPs wide array of financial activities as well as to
democratically consult the students regarding their needs to gain a complete understanding
of the budgetary needs of the University. It proposes to look into the capital expenditure,
cash management activities, partnership inflows and internal allocations of UP so that the
USC and the students can make completely informed stances on the activities of the UP
administration.
VI.
VIII.