HEADLINES

SUFA urges more benefits from Admin after 96M excess of revenues since 2017

By Ian Zane T. Esparaga | May 10, 2021

Photo courtesy of Zane Esparaga

According to Silliman University Faculty Association (SUFA) President Jonathan Te, Silliman University has a total of 96 million excess revenues over expenses from 2017 to 2020 based on the University Audited Financial Statements.

A detailed excess amount the university had each year starting from 2017 are as follows: ₱4 million in 2017, ₱12 million in 2018, ₱26 million in 2019, and ₱54 million in 2020.

The administration is obliged to provide the union with the same Audited Financial Statement they submit to the Securities and Exchange Commission (SEC) and the Board of Trustees as part of their reportorial requirements.

“Every year we get a copy of that and we look at that and that’s where we got that figure,” Te bared to tWS.

The newly elected SUFA President further explained the said expenses.

“There’s a different way in accounting when it comes to a non-stock, non-profit. Instead of calling it net income, it has a different label, it’s called excess of revenues over expenses. Meaning to say you already deducted all of your expenses.”

Since it is already called expenses, the said amount audited annually is not accumulated so the operation is on a per-year basis. 

“It would say that the university is actually earning, it’s not losing,” Te describes the Audited Financial Statement result.

In a series of tweets made by SUFA in their official Twitter account as confirmed by Te, it is one of their bases for the union’s demand for increased pay and providing better benefits for the faculty and staff.

“The faculty members, the employees, we should be able to enjoy whatever excess that the university was able to come up rather than I don’t know what they will do with the 54 million or even the 26 from the previous year and so on.”

When asked whether the university has been transparent enough, Te has a straightforward answer.

“We always challenge their transparency, we always challenge the transparency of the management.”

tWS already reached out to the administration for an interview or official statement through Atty. Myles Bejar, University General Counsel, and Dr. Jenny Chiu, Vice President for Finance and Administration, but was unresponsive as of this writing.

About theweeklysillimanian (1996 Articles)
Official student news publication of Silliman University.

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