P12M IN EXCESS FUNDS

Sinulog Foundation has extra money from last year’s celebration

The Sinulog Foundation Inc. (SFI) had P12 million in excess funds from last year’s celebration, but how will it spend this extra money?

Last April, Cebu City Mayor Tomas Osmeña said the amount will go back to the SFI and will be used for the next Sinulog Festival.

The mayor, though, did not specify what specific project or endeavor the P12 million will be used for.

In a phone interview last Thursday, Jan. 3, Councilor Dave Tumulak, Sinulog executive committee head, said he is still waiting for the mayor’s instructions.

“For now, there are no specific instructions yet on the matter and if it will be added to our budget for Sinulog 2019. We will just have to wait for the mayor’s directive,” he said.

Based on the approved annual budget for 2019, the City Government allocated P35 million for the Sinulog activities under City-sponsored activities.

SunStar Cebu tried to reach Osmeña, but he was not available as of press time.

In the financial report for 2018, Osmeña presented to some members of the media last April that the SFI had P39.5 million in sponsorships from its transactions from December 2017 to Feb. 15, 2018.

Of the amount, around P24.1 million were cash donations, while the remaining P15.4 million were in kind.

The total amount generated from sponsorships last year was P11.4 million higher than what it had in 2017.

In 2017, the SFI received P28.1 million in sponsorhips. Around P22.7 million of this was cash, while some P5.3 million were noncash donations.

From its activities in 2018, the SFI was only able to spend P27.4 million, of which P12 million was cash, while around P15.4 million was non-cash.

In 2017, the SFI spent P25 million for its activities, of which P19.6 million was in cash while some P5.3 million was non-cash.

SunStar Cebu tried to get a copy of SFI’s financial reports for 2018 and 2017, but personnel said the documents are confidential.

Meanwhile, Tumulak said a grand musical fireworks display inside the Cebu City Sports Center will be one of the highlights during the Sinulog Grand Parade on Jan. 20.

“This is the first time that we will have a musical fireworks display,” he said.

Tumulak said AirAsia shouldered the P500,000 expense for the musical fireworks display, which will happen after the grand finale.

This year, the City is spending P30 million for the Sinulog. It covers the subsidy for the contingents and prizes of the winners.

It is also the first time in 15 years that Cebu City will celebrate the Sinulog festival without Ricardo “Ricky” Ballesteros.

Ballesteros had been the executive director of the SFI for the past 15 years before he resigned from the position last April 2018.