Utilization of Income and Establishment of Revolving Fund
- All income generated from NMYC’s activities shall be deposited into a Revolving Fund.
- The Revolving Fund is used to cover operational expenses related to these activities, including payment of honoraria to involved personnel.
Nature and Management of the Revolving Fund
- The revolving account is self-liquidating and perpetuating, ensuring sustainability.
- The Fund must be deposited in an authorized government depository bank.
- Interest earned from the Fund accrues to the Fund and is used exclusively for its intended purpose.
Encouragement of Interagency Cooperation
- Other government agencies are encouraged to utilize the goods and services produced by the NMYC.
- There is an invitation for these agencies to establish productive partnerships and linkages with the NMYC to maximize the use of the program’s outputs.
Overall Objective and Rationale
- The Sariling Sikap Program aims to uplift the socio-economic conditions of the nation.
- The program leverages the technical expertise and training facilities of the NMYC.
- Practical application of acquired skills through production activities ensures optimum resource utilization and self-reliance of the Council.