A tripartite agreement that should have been signed a few months ago will finally happen.
The Philippine Olympic Committee will ink a pact with the Philippine Sports Commission and the Philippine SEA Games Organizing Committee.
The accord will allow the Department of Budget Management to release the Games’ budget of P6-billion to the Philippine Sports Commission.
In turn, the Phisgoc will be able to avail of the funds for the management of the Games.
The executive board of the POC approved this during a meeting yesterday and gave their nod to have POC president Abraham Tolentino as a signatory.
In the agreement, the Phisgoc will no longer remit funds that it has gained from its marketing activities on the biennial meet and will just report on its financial status with the POC.
From the agreement, the POC, through the national sports associations, will focus on the technical aspects of the Games, while the PSC will take care of the national athletes, and the release and accounting of the funds before the Commission on Audit.
“It’s an old agreement. Hindi lang napirmahan dahil sa mga gulo,” said Tolentino, referring to the resignation of boxing chief Ricky Vargas as POC president.
Tolentino, the head of the national sports association of cycling, will meet PSC Chairman William Ramirez and PHISGOC president and chief executive officer Ramon Suzara on Wednesday to finalize the agreement.
The pact went unsigned for months after the executive board raised questions when Vargas become one of the eight incorporators of Phisgoc after it was formed.
A total budget of P7.5 billion has been allocated for the Games, with P6-billion coming from the government.
On the other hand, the Phisgoc took care in raising the remaining P1.5 billion shortfall through sponsorship funds.
The signing of the agreement comes three weeks after Tolentino, the congressman representing the seventh district of Cavite (Tagaytay), came aboard as president.
“The board has approved and under the guidelines, there is no financial obligations on the part of the Phisgoc, just financial updates and reports to the POC,” said POC Chairman Steve Hontiveros.
This arrangement, according to POC, will enable the national sports associations to smoothly run activities that are related to the Games.
Meanwhile, the board has approved the reinstatement of secretary general Patrick Gregorio.
On the other hand, Ormoc City Mayor Richard Gomez (fencing) will be the deputy secretary general for NSA affairs.
Administrative functions will be delegated official after Tolentino appointed Samahang Basketball ng Pilipinas secretary general Sonny Barrios as deputy secretary general (admin affairs).
They will work alongside Col. Lucas Managuelod (membership), Atty. Alberto Agra and Atty. Billy Sumagui (legal) and Vargas (constitutional commission).
