Bacolod SP asks MassKara organizer for financial reports 

Posted by watchmen
March 5, 2024


By Mae Singuay

The Bacolod Sangguniang Panlungsod (SP) is asking MassKara Festival organizer Bacolod Yuhum Foundation (BYF) for the submission of its audited financial report.

“They submitted the documents, but it’s still not complete. We are asking for an audited financial report,” SP committee on appropriations chair, Councilor Thaddy Sayson said.

The BYF is required to submit their audited financial report before the ratification of their new contract with the city government as the official organizer for this year’s MassKara Festival.

BYF’s reports will be included in the committee report.

Sayson said BYF’s initial reports still showed a deficit in its collections, which resulted in the city government covering up around P10 million worth of expenses.

The organizer generated a P70 million income during the MassKara Festival 2023, but expenses have reached almost P80 million, the councilor said.

Among the big expenses incurred by the organizer were plane tickets for festival guests.

For this year’s festival, Sayson advised the BYF to book travel tickets in advance to avail of lower fare rates, and to make transactions for sponsorship as early as possible.

Sayson hopes that the SP will ratify the contract within this month, so that BYF can start negotiating with the festival sponsors.

The councilor said they proposed holding an income-generating sporting event during the festival.

The BYF is also considering reducing the number of festival venues for this year.

Earlier, Mayor Alfredo Abelardo Benitez requested authority to sign BYF’s contract.

The MassKara Festival is celebrated every October./MS, WDJ

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