00:00 Q: Why is SRI paid per person?
00:02 A: Well, according to our Bureau, SRI is a US savings.
00:08 We use it per person.
00:10 We really look at the numbers, we try to see if we can get 20.
00:16 But I think the maximum we can give is significantly higher than last year.
00:25 Q: They say that it can go beyond the BBR, but it's not enough.
00:30 A: No, I think they're saying that the programs, MOVs, can be converted to BS.
00:36 But our budgets are continuing, we'll use it per person next year.
00:41 We'll see what's the maximum we can give.
00:45 Our maximum is 18,000.
00:49 Q: What challenges do you see in distributing the money?
00:54 A: Of course, we remind the regions that the distribution should be orderly because of the cash flow.
01:01 We are constantly monitoring.
01:03 Of course, we talk to the regions to make sure that they have the procedures in place so that our teachers won't have a hard time.
01:12 Last year, we experienced that it was hard to distribute in far-flung areas.
01:19 That's why we said that as long as there's a written request from the teachers, we allow ATM.
01:27 Again, I'd like to emphasize that there should be a written request from the teachers.
01:32 Q: Why is it cash and not electronically?
01:36 A: We want the money to be used by the teachers for Christmas.
01:41 We want the money to be given directly to the teachers.
01:44 So, our distribution is cash flow.
01:47 So, there will be no legislative sanctions.
01:50 Q: Is it all cash?
01:52 A: No.
01:53 Our general rule is that the distribution should be cash flow.
01:58 But we put an exception there.
02:00 For teachers in far-flung areas, as long as they submit a written request,
02:05 we allow them to give their SRIs through ATM.
02:10 Q: Do you have a target to release the money?
02:14 A: Yes, we started today.
02:16 Definitely, our instruction is that before Christmas,
02:19 we should give the SRIs to our teachers and non-teaching personnel.
02:24 Q: In which region did you start?
02:26 A: I have a report that around 7 regions started.
02:31 Region 6, for example, sent pictures.
02:34 We can give you the specific regions that started.
02:37 We also monitor the day.
02:39 We're trying to reach out to the regions to find out if they started.
02:43 If they haven't started, what's the reason?
02:46 Because there might be help from the central office
02:49 so that the distribution and their regions can start.
02:53 But we are monitoring the situation.
02:55 Q: In NCR, is there anything?
02:57 A: In NCR, our latest update, they're just checking the amount, tax deductions, and all that.
03:05 And they are looking to distribute as much as possible.
03:08 In fact, we want to call NCR later to follow up on the status.
03:13 Q: Obviously, you can't get the entire 18K because of the taxes.
03:16 Some might say that you'll get a death end if you sweat.
03:20 A: The tax is in the tax loss.
03:24 Because when it exceeds 90,000, the benefits received by the employees
03:32 becomes taxable.
03:34 So it's not a death end policy.
03:36 The tax is really in our tax loss.
03:38 So it's a provision in the tax loss.
03:40 I don't have a controlling death end over the tax of these benefits.
03:46 Q: Sir, how much is the budget?
03:48 A: Our deficit in the death end is almost a million teaching and non-teaching personnel.
03:57 So the budget is roughly around P17.7 to P17.8 billion in total to provide P18,000 of uniform SRI
04:07 to our teaching and non-teaching personnel.
04:09 [SILENCE]
04:16 [TYPING SOUNDS]
04:18 [DING]
04:20 [BLANK_AUDIO]
Comments