ASABE Technical Library - Abstract

Abstract

This study determined to know the objectives, procedures, and feedbacks from creditors and suppliers of goods and services and from department heads/workers involved; to analyze its strengths and weaknesses; to identify the problems encountered, suggest solutions in the procedures, and to make recommendations for modification and improvement of funds disbursement. The purpose is to achieve a more tight control over funds and provide administrative techniques to satisfy the needs of creditors and suppliers in the collection of payments of goods and services delivered in a private hospital.

Twenty (20) creditors and suppliers of goods and services and fifteen (15) department heads/workers involved, with a total of 35 respondents participated in answering the survey questionnaires.

The President, the Vice-President for Finance and her Secretary, the Comptroller, and the Accountant were the respondents to the five sets of structured interview questionnaire respectively.

A majority of creditors and suppliers, and departments heads/workers involved in the disbursement of funds in a private hospital were satisfied with their procedures; however, a private hospital are not totally following the disbursement cycle controls. There is still a need to further strengthen and update proper disbursement scheme to better safeguard the funds and promote better relations and satisfaction with its creditors and suppliers, employees and the general public.

Similar studies on funds disbursement of private and public hospitals in the local and foreign setting be conducted. Variables should be included in the profile of respondents in related studies of funds disbursement.