The Divine Word Missionaries (SVD) of the Philippine Southern Province (PHS) had their seminar workshop on school and hospital governance at the SVD Retreat House of the University of San Carlos (USC) in Talamban Campus, Cebu City on June 17-18, 2016. In this one and a half day seminar workshop, the basic and best governance practices of Catholic schools in the Philippines, the reportorial requirements of the Securities and Exchange Commission, and financial literacy, particularly understanding financial statements were discussed extensively.
It also included cases and issues concerning school Board practices, SEC updates, and analyzing financial statements. Lecturers are PHS Secretary of Education Ministry Fr. Peru Dayag, SVD; USC VP for Finance Fr. Jun Rebayla, SVD; Atty. Alma Estrada-Dlena and Atty. Tara Tsarina Perez-Retuya, lawyers of the Securities and Exchange Commission.
According to the Fr. Dayag, impetus of the seminar-workshop was “to deepen the understanding of the participants on governance practices of Catholic schools in the Philippines, particularly the SVD schools; to make the participants aware of the functions of the Securities and Exchange Commission vis-à-vis registered corporations, and; to increase the knowledge of the SVDs in analyzing the financial statements of the schools and hospitals.” This is also in preparation for the other members of the congregation whenever they become part of the Board of Trustees in the future.
The SVD in the PHS owns three universities in the Visayas, namely, the University of San Carlos in Cebu, the Holy Name University of Bohol (HNU), and the Liceo del Verbo Divino in Tacloban. The Divine Word Hospital in Tacloban and the Holy Name University Medical Center in Bohol are also owned by the SVD. Just recently, the USC and HNU ranked first and fourth respectively among the best-performing Accountancy schools in the country based on the May 2016 board exams.