Sinulog group to cover stolen P700-T funds
The Sinulog Foundation Inc. will refund the P757,000 stolen from the vault in last Monday dawn’s burglary at the Cebu City Sports Center (CCSC).
Sinulog Foundation Inc. (SFI) executive director Ricky Ballesteros said the decision came after yesterday’s meeting with Cebu City Mayor Michael Rama, the foundation’s board of trustees and the city police.
If the money is not recovered by the police, Ballesteros said this will have to be declared as “lost” during the annual audit of the foundation’s finances.
“But the board decided to look for ways to cover the lost money,” he told Cebu Daily News.
Rama, also the Sinulog overall chairman, ordered Senior Supt. Melvin Buenafe, Cebu City police chief, to expedite the recovery of the lost cash and valuables amounting to a total P1.6 million.
The P757,000 will pay for the honoraria of the performers of the Sinulog Grand Parade finale participants.
Article continues after this advertisement“As much as possible, we don’t want City Hall to pay for the refund,” Rama said.
Article continues after this advertisementUniversity dance groups are to be paid P20,000 each while different rates are paid to the models, singers and staff.
Ballesteros said if the finale money is not recovered, this will have to be declared as lost together with the P880,000 in foundation money that was stolen.
“The foundation has seed money that can be used if the Sinulog flops,” he said.
Rama said he also told the Sinulog board of trustees that only Ballesteros should be “handling” the foundation’s money” that will be kept in a safe located inside his sports center office.
Ballesteros said the foundation is now considering the possibility of acquiring a new cash vault and the installation of CCTVs in their area.
As a practice, daily collections by the Sinulog foundation is kept in a cash vault.
The amount will be deposited to their Allied Bank Fuente Osmeña branch bank the next morning.
Rama said he was unaware that money was kept at the Sinulog Foundation Office until after the robbery.
He also clarified accusations by Rep. Tomas Osmeña of Cebu City’s south district that the removal of barangay intelligence network (BIN) personnel assigned at the sports center contributed to the robbery.
The mayor said Ballesteros told him that he terminated the BINs about a year ago after he caught them sleeping on the job.
Sta. Ana Auditing Firm, a private audit firm, looks into the foundation’s yearly finances.
A copy of their audit report is submitted to the Securities and Exchange Commission (SEC).
For their part, the National Bureau of Investigation in Central Visayas (NBI-7) will conduct a polygraph or lie detector test on four CCSC employees and Sinulog staff.
Security guard Joselyndo Jabagat, who was arrested for the robbery and fellow guard John Eric Carcedo, utility worker Manuel Quemada, maintenance worker l Rosita Velasco and John Michael Pepito of the SFI will undergo the tests.
Jabagat faces qualified theft charges before the Cebu City Prosecutors’ Office and he is seeking assistance from Rep. Juan Miguel Arroyo of the Ang Galing party list group for his case.
NBI-7 Asst. Regional Director Lauro Reyes said polygraph test results will be sent to the police who will decide whether or not to release them to the media.
Cebu City police also recovered from the crime scene two metal cutters used by the burglars.
The office of the Firearms Explosives Security and Guards Supervisory Section will conduct a separate investigation on Jabagat and the agency he worked for, Golden Dragon Security Agency. With Reporter Ador Vincent Mayol and Correspondents Chito Aragon and Patricia Andrea Pateña.
