Finance Units of the Project Support Office (PSO) and Regional Project Coordination Offices (RPCOs) in North Luzon Cluster of the Department of Agriculture – Philippine Rural Development Project (DA-PRDP) undergo a Financial Management Training from March 15-18, 2022 at El Cielito Inn, Baguio City.

The activity was spearheaded by the National Project Coordination Office (NPCO) counterpart unit and was aimed to capacitate the participating unit and other involved components such as I-BUILD and I-REAP in overall financial management and guide them in implementing, accounting for, and reporting on the operations under DA-PRDP.

Moreover, the training was conducted to help participants to understand the World Bank, regulatory and oversight agencies guidelines in monitoring the progress and status of the projects; underline the necessity of maintaining books of accounts, records and documents of the Project; and strengthen their knowledge in the importance of recording in the books of accounts and records, preparation of financial reports/statements and the timely submission of the required financial reports.

NPCO Alternate Finance Unit Head, Edgardo Aure, led the presentation on the overview of PRDP, organizational setup, funds flow, cost table, and the Implementation Management Agreement (IMA) in which he accentuated its importance in subproject implementation. In addition, he also presented the requirements for the release of funds by PRDP to LGU and payment by LGU to Contractor for I-BUILD subprojects; requirements for the release of funds by PRDP to RPCO and by LGU to Proponent Group for I-REAP subprojects; and the Statement of Receipts and Expenditures.

Meanwhile, NPCO Financial Analyst III, Arnold Jaurige, reiterated the proper monitoring of fund releases and regular coordination with partner LGU to properly monitor subproject implementation and to gradually settle unliquidated fund releases.

PSO North Luzon Deputy Project Directo Elma Mananes also graced the activity and expressed appreciation on the significance of holding such activity as the Finance Unit plays a vital role in ensuring smooth operation and implementation of target projects under DA-PRDP.

As part of the training, some clarifications, issues and concerns experienced by the participating units and components were raised and addressed by the NPCO team. (Ericson Guiao, PSO North Luzon InfoACE)