𝗘𝗺𝗽𝗼𝘄𝗲𝗿𝗶𝗻𝗴 𝗖𝗼𝗺𝗺𝘂𝗻𝗶𝘁𝗶𝗲𝘀: 𝗔𝗖𝗖 𝗟𝗲𝗮𝗱𝘀 𝗙𝗶𝗻𝗮𝗻𝗰𝗶𝗮𝗹 𝗠𝗮𝗻𝗮𝗴𝗲𝗺𝗲𝗻𝘁 𝗦𝗲𝗺𝗶𝗻𝗮𝗿 𝗳𝗼𝗿 𝗔𝗯𝘂𝘆𝗼𝗴 𝗦𝗟𝗣𝗔𝘀 𝗘𝗺𝗽𝗼𝘄𝗲𝗿𝗶𝗻𝗴 𝗖𝗼𝗺𝗺𝘂𝗻𝗶𝘁𝗶𝗲𝘀: 𝗔𝗖𝗖 𝗟𝗲𝗮𝗱𝘀 𝗙𝗶𝗻𝗮𝗻𝗰𝗶𝗮𝗹 𝗠𝗮𝗻𝗮𝗴𝗲𝗺𝗲𝗻𝘁 𝗦𝗲𝗺𝗶𝗻𝗮𝗿 𝗳𝗼𝗿 𝗔𝗯𝘂𝘆𝗼𝗴 𝗦𝗟𝗣𝗔𝘀 by Margiely Adrilyde Sombilon
On November 6, 2024, the Abuyog Community Center (ACC) held a Financial Management Seminar for Sustainable Livelihood Program Association (SLPA) members in Abuyog, Leyte held at the Business Incubation Facility.
Recognizing the need for improved financial literacy within the community, ACC spearheaded this initiative to equip SLPA members with essential financial management skills to ensure the sustainability and growth of their livelihood projects.
The seminar brought together various SLPA groups from Abuyog, Leyte, offering them a platform to learn, discuss, and enhance their understanding of financial planning, budgeting, savings, and investment practices.
Participants were warmly welcomed by the College President, Dr. Clemelle L. Montallana who emphasized the importance of financial literacy as a foundation for sustainable livelihood projects.
Dr. Montallana also noted that by investing in financial education, ACC has paved the way for SLPA members to achieve greater economic resilience and independence.
Moreover, Municipal Administrator, Mrs. Luz Concha K. Daganzo expressed her delight with the said initiative of the local government unit of Abuyog partnered with the academic institution.
Mrs. Daganzo was optimistic that this will be a successful step toward sustainable community empowerment, with the participants who are eager to put their learning into practice.
The session began with the introduction of participants, resource speakers and guests by the director of Community and Extension Services Office, Prof. Irene Belleza.
A key segment of the seminar covered the application process for new bank accounts with resource speakers from First Consolidated Bank (FCB) Abuyog Branch, Manager, Mr. Marvin P. Orag together with his team.
They provided a step-by-step guide on how SLPAs could set up bank accounts, an essential tool for managing funds more transparently. This session not only highlighted the technical steps involved in opening accounts but also the broader purpose of ensuring secure, efficient transactions and accountability within the associations.
Following this, the seminar delved into basic financial management principles. Prof. Dulce Amor Cutura, faculty member of the College of Hospitality Management and Entrepreneurship discussed the importance and purpose of managing finances well, explaining how it helps SLPAs track income and expenses, prepare for unexpected costs, and make informed decisions.
Participants were shown how these practices could enable their projects to thrive long-term, benefiting members and the broader community.
The next part of the seminar introduced simplified bookkeeping and accounting practices. Facilitated by Dr. Asuncion M. Villote, ACC Executive Vice-president using practical examples tailored to the participants’ context, making the concepts accessible and easy to apply.
Attendees learned how to maintain clear financial records, understand the basics of cash flow, and manage budgets in a way that promotes transparency and accountability.
The seminar concluded with a closing message from the Mr. Sean G. Lim
Implementing Project Development Officer of the DSWD – Sustainable Livelihood Program who encouraged the participants to apply what they learned and continue developing their financial skills.
Mr. Lim reiterated that mastering financial management is an ongoing process but assured the attendees that even small, consistent steps could lead to significant improvements in their business operations.
Overall, this seminar was a valuable steppingstone toward financial literacy and independence for the SLPAs of Abuyog, setting a positive example of how targeted community programs can drive meaningful change.
The participants now have the foundational skills necessary to take charge of their finances, laying the groundwork for sustainable growth and a brighter economic future.