BOARD RESOLUTION NO.24-10-34
Approving the Endorsement of the Corporate Operating Budget of the
Employees’ Compensation Commission and Occupational Safety and Health
Center for Calendar Year 2025 to the Department of Budget and Management
WHEREAS, this Commission duly discussed the Corporate Operating Budget (COB) for Calendar Year (CY) 2025 as proposed by the Employees’ Compensation Commission and the Occupational Safety and Health Center in the amount of FOUR HUNDRED FORTY-FIVE MILLION ONE HUNDRED SEVENTY-SIX THOUSAND ONE HUNDRED FIFTY-FIVE PESOS (P445,176,155.00) and THREE HUNDRED NINETY-TWO MILLION SEVEN HUNDRED NINETY-SIX THOUSAND NINE HUNDRED FIFTY-NINE PESOS (P392,796,959.00),respectively;
WHEREAS, the proposed COB for 2025 includes the amount of FIFTY- SEVEN MILLION SIX HUNDRED FIFTY THOUSAND PESOS (P57,650,000.00) as re- budget capital outlay for ECC and NONE for OSHC which amount was previously approved by the ECC Board and DBM chargeable to ECC Budget Savings (retained earnings);
WHEREAS, from the proposed COB for CY 2025 of ECC (net of re-budget capital outlay) at the amount of THREE HUNDRED EIGHTY-SEVEN MILLION FIVE HUNDRED TWENTY-SIX THOUSAND ONE HUNDRED FIFTY-FIVE PESOS (P387,526,155.00), the amount of THREE HUNDRED SEVENTY-FOUR MILLION NINE HUNDRED EIGHTY-SIX THOUSAND ONE HUNDRED FIFTY-FIVE PESOS (P374,986,155.00) shall be charged to the State Insurance Fund (SIF);
WHEREAS, from the proposed COB for 2025 of OSHC (no re-budget capital outlay)at the amount of THREE HUNDRED NINETY-TWO MILLION SEVEN HUNDRED NINETY-SIX THOUSAND NINE HUNDRED FIFTY-NINE PESOS (P392,796,959.00)the amount of THREE HUNDRED FIFTY-SEVEN MILLION SEVEN HUNDRED EIGHTY-EIGHT THOUSAND TWO HUNDRED SEVENTY-TWO PESOS (P357,788,272.00)shall be charged to the State Insurance Fund (SIF);
WHEREAS, from the respective proposed COB for 2025 of both agencies, TWELVE MILLION FIVE HUNDRED FORTY THOUSAND PESOS (P12,540,000.00) for ECC and THIRTY-FIVE MILLION EIGHT THOUSAND SIX HUNDRED EIGHTY-SEVEN PESOS (P35,008,687.00)for OSHC shall be charged to the respective Budget Savings (retained earnings) of ECC and OSHC;
WHEREAS, the amount proposed to be charged to the SIF is within the allowable disbursement from the contributions and investment earnings collected for operational expenses as provided in Article 185 of PD 626,as amended;
WHEREAS, this Commission finds the proposed budget in order and necessary to implement the programs and activities of both ECC and OSHC;
NOW THEREFORE, ON MOTION DULY MADE AND SECONDED
This Commission RESOLVES AS IT HEREBY RESOLVED, to approve the endorsement of the ECC and OSHC Corporate Operating Budget for Calendar Year 2025 to the Department of Budget and Management for approval, in the total amount of FOUR HUNDRED FORTY-FIVE MILLION ONE HUNDRED SEVENTY-SIX THOUSAND ONE HUNDRED FIFTY-FIVE PESOS (P445,176,155.00) for ECC and THREE HUNDRED NINETY-TWO MILLION SEVEN HUNDRED NINETY-SIX THOUSAND NINE HUNDRED FIFTY-NINE PESOS (P392,796,959.00) for OSHC, broken down as follows:
- The amount of THREE HUNDRED SEVENTY-FOUR MILLION NINE HUNDRED EIGHTY-SIX THOUSAND ONE HUNDRED FIFTY-FIVE PESOS (P374,986,155.00) for ECC and THREE HUNDRED FIFTY-SEVEN MILLION SEVEN HUNDRED EIGHTY-EIGHT THOUSAND TWO HUNDRED SEVENTY-TWO PESOS (P357,788,272.00) for OSHC shall be charged to the share of ECC and OSHC in the twelve percent (12%) loading fund of the State Insurance Fund (SIF), based on a “fifty point twenty-six percent SSS and forty-nine point seventy-four percent GSIS” (50.26:49.74) sharing scheme as agreed upon by the administering agencies of the SIF;
- The amount of TWELVE MILLION FIVE HUNDRED FORTY THOUSAND PESOS (P12,540,000.00) for ECC and THIRTY-FIVE MILLION EIGHT THOUSAND SIX HUNDRED EIGHTY-SEVEN PESOS (P35,008,687.00) for OSHC shall be charged to the respective Budget Savings (retained earnings) of ECC and OSHC;
- The amount of FIFTY-SEVEN MILLION SIX HUNDRED FIFTY THOUSAND PESOS (P57,650,000.00) as re-budget capital outlay for ECC and NONE as re-budget capital outlay for OSHC which was previously approved by the ECC Board and DBM to be charged also to the Budget Savings (retained earnings) of ECC.
RESOLVED FURTHER, that copies of this Resolution be duly furnished the concerned agencies for information and appropriate action.
APPROVED, this 24th day of October 2024, in Quezon City,Philippines.
(SGD.) BIENVENIDO E. LAGUESMA
Chairperson
Department of Labor and Employment
(SGD.) ELVIRA G. ALCANTARA-RESARE
Member-Alternate
Social Security System
(SGD) JASON C. TENG
Member-Alternate
Government Service Insurance System
(SGD) ALLAN S. MONTANO
Member
Employees’ Sector
(SGD) FEDERICO R. MARQUEZ, JR.
Member
Employers’ Sector
(SGD) DENNIS S. MAS
Member-Alternate
Philippine Health Insurance Corporation
(SGD) ATTY. KAIMA VIA B. VELASQUEZ
Member
Employees’ Compensation Commission-Secretariat