Ever since its creation in 2009, the National Book Development Board, which administers the trust fund for use in supporting Filipino book authorship had not been using the interest accrued from the National Book Trust Fund, which since 2019 has reached P14.14 million.
Under Republic Act No. 9521, creating the National Book Development Trust Fund of 2009, the government should promote the continuing development of the book publishing industry in all regions of the country with a fund coming from the budget, PAGCOR and PCSO (each at P50 million). It took effect 15 days after publication.
Since 2009 until P2019, it had accumulated so much interest in banks where they were deposited as trust fund.
But since 2019, the Commission on Audit found that the National Book Development Board did not use the interest income from its trust fund in awarding publication grants to Filipino book authors.
In a 2021 report that was released on Friday, state auditors said the board currently had an accumulated interest income of P14,140,333.08 from its National Book Development Trust Fund, which had been untapped since 2019, the Inquirer reported.
Broken down, the P14.14 million consisted of P4.87 million in 2019, P4.82 million in 2020 and P4.45 million in 2021.
Administrator
The COA said “no grants were awarded for three years since 2019 for the support and promotion of Filipino authorship.” It noted further that the objective for establishing the trust fund was precisely to support Filipino authorship especially in the field of science and technology.
Under that 2009 law, a trust fund “is hereby established exclusively for the support and promotion of Filipino authorship especially in science and technology and in subject areas wherein locally authored books are either few or nonexistent.”
The law, which identifies the NBDB as administrator of the trust fund, further states that its “interest … shall be awarded as grants to promote Filipino authorship and to support the completion of local manuscripts or research works for publication.”
Create, revive programs
The COA recommended that the board “create/revive relevant programs … to ensure the efficient and effective utilization of the interest income earned from the fund, so that the purpose [for its] establishment … will be attained.”
The NBDB was also directed to submit to state auditors its final updated guidelines on the fund’s implementation.
‘Stimulus package’
The agency, in response to the COA, said there were no activities last year in connection with the trust fund, adding that it “need[ed] to come up with a new stimulus package” for the book publishing industry amid the COVID-19 pandemic.
Apart from no publishing grants awarded, state auditors found no other projects or activities in 2021 in connection with the trust fund.
That year, the COA also noted that the board could not form an advisory committee to evaluate manuscript proposals.
The board said it submitted in April its draft calendar and draft guidelines on the fund’s use—which the COA acknowledged in its report.
The auditors also said the NBDB had otherwise utilized its P97.37 million budget last year, leaving only P1.04 million left unused.
Since authorship is one of the major components of book publishing, the national book policy obliges the State to create a dynamic and conducive environment for the promotion of Filipino authorship and other creative activities in book development.
The law grants exemptions from donor’s tax to the Fund and the same shall be considered as allowable deductions from the gross income of the donor, in accordance with the provisions of the National Internal Revenue Code of 1997, as amended: Provided, That the allowable deductions shall be equivalent to one hundred fifty percent (150 percent) of the value of such donation.
Tags: #RA9521, #Filipinoauthors, #scienceandtechnology, #NationalBookTrustFund, #money