Connect with us

Hi, what are you looking for?

Captain Of Success
Top Stories

Stock Markets

Stricter special educ fund use urged

UNSPLASH

A SENATOR on Monday called for more mechanisms to boost transparency and accountability in the use of the Special Education Fund, which is meant to cover school building repairs, maintenance, and construction, after reports of the fund’s misuse and underspending.

In a statement, Senator Sherwin T. Gatchalian called for a transparency board that would report on and oversee special education spending to ensure it is being used for its intended purpose.

He earlier filed Senate Bill No. 155, which would expand the use of the Special Education Fund to cover salaries and honoraria of teachers and non-teaching personnel in public schools.

Citing a study by the Second Congressional Commission on Education (EDCOM II), underuse of the fund amounted to P15 billion from 2018 to 2022. The Bureau of Local Government Finance cited procurement issues and limitations on allowable use as factors in underutilization.

A 2023 Commission on Audit report also showed that millions of pesos meant for improving public education in Metro Manila have been improperly spent or underspent by several local government units. — John Victor D. Ordoñez

    You May Also Like

    Stock Markets

    Students of the Institute of Civil Engineering of the University of the Philippines Diliman experience what it’s like on-board the Circular Explorer and attend...

    Stock Markets

    THE DEVELOPMENT Bank of the Philippines (DBP) will again request for regulatory relief this year as it seeks to boost its capital position. “Just...

    Stock Markets

    In the photo are (seated L to R) Francisco “Coco” D.C. Mauricio, WeFund Lending Corp. President and CEO; Danilo “Bong” J. Mojica II, UnionDigital...

    Finance

    The Small Business Charter (SBC) has appointed entrepreneur Byron Dixon OBE, founder and chief executive of freshness-technology firm Micro-Fresh, as its new chair. Dixon...

    Disclaimer: CaptainOfSuccess.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice.
    The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.