GROSS corporate revenues of Western Mindanao State University (WMSU) jumped to 65.8-million in 2005, marking a major increase from 2004’s P44.5-million in total earnings.
The quantum financial performance came from the 12 business centers of the institution, whose latest addition is the university’s two-year old training and review center. The center initially offers short refreshers for civil service examinations.
WMSU President Dr. Eldigario Gonzales said the revenues enable the university to keep from raising tuition fees, which are now one of the lowest among the country’s state universities.
“The university’s entrepreneurial and corporate ventures speak of what a university of the future is – vibrant, relevant and self-sustaining. While its corporate character builds a strong foundation for the support of its programs, it bridges the gap between academic excellence and socio-economic relevance,” Dr. Gonzales said in the recently-issued corporate annual report.
The report was prepared by Vice-President for Corporate Affairs Clemencio Bascar, who retired last month. Dr. Gonzales has assumed the position on a temporary capacity, pending the appointment of Bascar’s successor.
According to the annual report, the university made a net profit of P11.5-million from the 2005’s earnings, while contributing P16.8-million to the Special Trust Fund. The latter was utilized to augment regular government subsidy for current operating expenses, equipment purchase and special projects. Some P3.3-million went into infrustructure facilities. Some 170 contractual employees including part-time instructors were paid of the earnings, too.
Revenues for this year are poised to continue to climb as new services are added and existing potentials are tapped. These include the introduction of digital interactive classrooms that will increase the student-to-instructor ratio and thus reduce effective cost in faculty personnel services in the long run. The university is also expected to start operating its own internet service provider (ISP) on a commercial scale, serving as well its 15 external campus units in the region with a total population of some 18,000 students.
Dr. Gonzales has also underscored recently the need to convert its researches into income-generating ventures, including a major push in agribusinesses.
A new budgeting scheme enacted by the national government requires state universities to achieve greater financial self-reliance in the coming years, Dr. Gonzales said. The Philippine Association of State Universities and Colleges (PSUC), of which he is president, has interposed its reservations against the scheme, he said, fearing that it will prejudice the services of many less-capable institutions. WMSU, however, views the scheme as more of a challenge than a threat, Dr. Gonzales said. (Rey-Luis Banagudos / PAO-WMSU)