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DoF remits $561K to PSS
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Posted on Feb 17 2005
The Public School System is very happy with the attention being showered it as of late by the Department of Finance.
Education commissioner Rita H. Inos confirmed Wednesday that Finance has remitted $561,000 to PSS’ “all others” account.
That leaves the Department of Finance “only” $64,000 short of paying off the rest of PSS’ “all others” account.
PSS has been in default of payments to its vendors since last year because of the pending transfer of the account.
Inos said they are very thankful for the partial transfer of the fund, which occurred about two weeks ago.
“They gave us [a majority] of our money and we appreciate their consideration to acknowledge that PSS indeed needs their support,” she said.
The transfer of a portion of the “all others” arrears account was confirmed last week by PSS director of finance Richard Waldo. He told Inos that PSS is close to coming out of the red regarding its financial obligations.
“We need their support and we do need funds, so that we can make sure we can run the system for the children,” she said.
Vendors and suppliers of PSS also welcome the good news and are looking forward for PSS to fulfill its obligations.
“Our vendors are now looking at us as an organization that they can work with and support and provide necessary services for running it, because our kids need it. Children look forward to coming to school everyday, so we [must] have to have all the supplies for them everyday in school, whatever supplies we can get,” she said.
Waldo stressed, however, that payment procedures would take two to three days due to the time required to locate all old papers for proper payment processes. He also said PSS would prioritize remitting payments to their vendors starting from the oldest bill to the latest. (Marconi Calindas)
