Apr 07
ACADEMY COPES WITH REDUCE MMFFP SHARE by fapweb  |  Posted in Articles  |  on Fri, Apr 7, 2006

The Board of Governors of the Film Academy of the Philippines held an emergency meeting last Monday, April 10, to tackle the very urgent matter of the reduction of the Academy’s share from the proceeds of last year’s Metro Manila Film Festival Philippines from 30% to a meager 10%.

For the sake of the continuance of the FAP offices so that it will still be able to sustain operations and provide the necessary functions provided for in its charter, the officers of the board volunteered to reduce their honoraria and allowances by almost 70% collectively.

Inspite efforts by the Academy officers to shield the FAP employees’ salaries and other benefits, a 10% reduction in basic salaries will still be implemented though the officers assured that nobody will be terminated.

Academy officials expressed the hope that this present situation is only temporary. The reduction in share is actually still being appealed. But for the time being, radical measures must be resorted to, Director General Leo G. Martinez explained.

This belt tightening measures are the collective decision of the guilds who were one in expressing that unity and staying together will certainly prove that being together for the last 24 years had indeed firmly unified the guilds of the academy.

Aside from the cost-saving measures effected by the Board regarding the salaries of its employees, it has also resolved that grants to the thirteen guilds under its wings will be reduced by 70% as well. Honoraria to the members of the Board of Governors has also been reduced to 60%, with officers of the Board waiving their own honoraria.

Regular expenses will be reduced to 50% or more across the board. It is hoped that with this drastic cuts of the Academy’s operating expenses, it will be able to sustain itself and perform the functions assigned to it by Executive Order 640-A.