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Panagbenga woes continue

Yaranon asks SEC to suspend BFFI

BAGUIO CITY (Dec. 7) — Mayor Braulio Yaranon petitioned the national office of the Securities and Exchange Commission (SEC) through Chairperson Fe B. Barin to suspend the Baguio Flower Festival Foundation, Inc. (BFFFI) for its non-compliance with the reportorial requirement regarding financial statements for previous city flower festival or the Panagbenga.

The said non-compliance is due to the alleged non-transparency of BFFFI with its submission of financial statements and statement of funds application to the SEC.

The SEC has specified in Memorandum Circular No. 1 (Guidelines of Foundations section 4), series of 2004, that the “registered foundations must submit a detailed report of the sources and amount of funds established and the names of beneficiaries and the corresponding amounts of funds granted or endowed thereto by the Foundation.”

Yaranon in his letter, subscribed and sworn on December 7, told the SEC chairperson that the request (of suspension) is for the proper accounting of city government funds turned over to the BFFI. The amounts are as follows: P2 million in 2003, and P2.4 million in 2004 as shown in a certification release by the city accountant.

The funds mentioned were disbursed to BFFFI as a form of assistance from the city government; thus the accounting is what Yaranon expects from the Foundation.

Yaranon also claims, “The reports submitted by the Foundation were signed by persons unauthorized to act for the Foundation. The same unauthorized persons are also disbursing funds therefore.”

In line with Yaranon’s appeal to SEC, he has also issued Administrative Order (AO) No. 285, series of 2005, issued last December 6. The AO states that Yaranon is “authorizing Rev. Bishop Carlito J. Cenzon, DD, CICM, as chairperson for the interim executive committee for the 2006 Panagbenga.”

According to Yaranon’s AO, the appointment of Cenzon was to proceed with preparations for the 2006 Panagbenga despite the “impasse brought about by the position of the BFFFI, to take over the staging of the festival.”

He adds, “There is urgent public need to protect public welfare and interest. The festival has been in ownership to the Baguio community.”

Yaranon also claimed that it would be unfair for the Baguio Panagbenga Flower Festival Association, Inc. (BPFFAI) to be thrown out after they had successfully pulled off the 2005 Panagbenga. Also, Yaranon explains that the handling of 2005 Panagbenga by the BPFFAI had involved participation from different communities in the Cordilleras, Ilocos region, Pangasinan, some regions in Central and Southern Luzon, Bicol, Visayas and Mindanao.

“The Panagbenga and other institutionalized events and activities should be totally shielded from personal, political, or other divisive controversy,” Yaranon concludes. # Pink-Jean Fangon Melegrito for NORDIS

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