[Blueboard] Correction in our Budget Guidelines for FY 2006-2007

Treasurer's Office ovpft at admu.edu.ph
Tue Nov 29 15:08:21 PHT 2005

November 28, 2005



MEMO TO:   All Budget Administrators


FROM       :   Vice President for Finance and Treasurer


SUBJECT :    Correction in our Budget Guidelines for  FY 2006-2007




            Please provide for a 25% allocation for Employee Benefits in your budget requests for FY 2006-2007.  The previous years' 20% allocation will not be enough to cover the projected increase in cost of the various components of our employee benefits particularly the University's Contribution to CEAP, the Group Health Insurance, the Employer's share in Philhealth Contributions, and the Contribution to the Retirement Fund.  The Retirement Fund contribution has the biggest impact due to our need to comply with the International Accounting Standards No. 19 (IAS 19) which among others requires us to accelerate the payment of our past service liability.  


The above change in provision is already reflected in our Budget Guidelines - please visit our website http://www.ateneo.edu/internal/budget 


            Thank you.






                                                                        JOSE M. SANTOS

-------------- next part --------------
An HTML attachment was scrubbed...
URL: https://lists.ateneo.edu/pipermail/blueboard/attachments/20051129/23b2dbc5/attachment.html 
-------------- next part --------------
Internal Virus Database is out-of-date.
Checked by AVG Anti-Virus.
Version: 7.0.300 / Virus Database: 265.6.5 - Release Date: 12/26/04

More information about the Blueboard mailing list