RESOLUTION NO. 2019-0077 (Sponsor: Committee on Commerce, Trade and Industry, Economic Enterprise and Cooperatives) "A RESOLUTION URGING THE CITY ECONOMIC ENTERPRISES OFFICER TO PROVIDE THE HONORABLE CITY MAYOR AND COPY FURNISH THE SANGGUNIANG PANLUNGSOD WITH AN ANNUAL FINANCIAL STATUS REPORT ON THE OPERATION OF THE DIFFERENT CITY ECONOMIC ENTERPRISES FACILITIES INCLUDING A COMPREHENSIVE ANALYSIS ON ITS FINANCIAL VIABILITY" WHEREAS, concern on the information that the City Economic Enterprises Department has not regularly submitted financial status report including financial analysis on the viability of the different economic enterprises facilities operated by the City Government cannot be understated; WHEREAS, this august body finds it rather disturbing the information on the lack of financial record including financial analysis on the viability of the different economic enterprises facilities operated by the City Government; WHEREAS, there is a need for the City Chief Executive to be updated and apprised regularly on the operation of each facilities to include their financial viability to help him assess and evaluate whether to pursue the operation or not, such that directing the CEEO to provide and submit financial status report annually; WHEREAS, the Committee on Commerce, Trade & Industry, Economic Enterprises and Cooperatives to which the foregoing matter was referred for preliminary consideration, finds the prevailing situation rather disturbing, thus the need to require the City Economic Enterprise Department to come up with an Annual Financial Report including a comprehensive analysis of each economic enterprise facilities' financial viability and submit such findings to the City Mayor and furnish copy the Sangguniang Panlungsod for information; NOW, THEREFORE, on seconded motion of Honorable Fernando Y. Pameron, be it RESOLVED to urge, as this body hereby urges the City Economic Enterprises Officer to regularly provide the Honorable City Mayor and copy furnish the Sangguniang Panlungsod with an Annual Financial Status Report on the operation of the different City Economic Enterprises Facilities including a comprehensive analysis on its financial viability. RESOLVED FURTHER, to let copies of this Resolution be forwarded to the Honorable City Mayor, for favorable consideration; and to the City Economic Enterprise Department, for information, guidance and/or appropriate action. APPROVED UNANIMOUSLY. I HEREBY CERTIFY to the correctness of the foregoing resolution. MAPHILINDO Q. OBAOB, MPA, MAGaD Verified: City Vice Mayor/Presiding Officer ATTY. TEODORO M. QUICOY SP Member/ Floor Leader Attested: ELKID P. NACUA Acting Secretary to the Sanggunian