The payment status of accounts receivable of full-time faculty and staff of Central Philippine University for school year 2006-2007 to school year 2009-2010

Abstract

The primary purpose of this study was to find out the payment status of Accounts Receivable of Full-time faculty and staff of Central Philippine University for School Year 2006-2007 to School Year 2009-2010 and the factors associated with the Faculty and Staff payment status. This study described the personal characteristics of the employees in terms of category, gender, civil status and number of dependents, the work status of the employees in terms of length of service, their basic pay and their average net pay, the amount of Accounts Receivable, the trend of Accounts Receivable, the payment status of full-time faculty and staff, the nature of Accounts Receivable for full-time faculty and staff, the payment status of respondents according to gender, civil status, number of dependents, length of service, basic salary, and average net pay to payment of status of Accounts receivable; the significant association according to gender, civil status and account receivable balance; and the relationship between number of dependents, length of service, basic salary, average net pay and account receivable balance for School Year 2006-2007 to School Year 2009-2010. The respondents of this study were the full-time faculty and staff who were employed during the School Year 2006-2007 until School Year 2009-2010. Personal characteristics, Work Status and Nature of Accounts Receivable of each respondent were summarized and tabulated using the Microsoft Excel. Amount of charges, payment and balance of Account Receivable with percentage were used in the analysis and interpretation of data. The findings of the study showed that majority of the employees of Central Philippine University were faculty with 65.06 percent of the total full-time employees who were employed during School Year 2006-2007 to School Year 2009-2010. Majority of the faculty and staff were female and were married. Most faculty and staff have served Central Philippine University below 10 years. Majority of the faculty and staff had a basic salary ranging from P10,001 to P20,000. With regards to average net pay, most of the faculty had an average net pay ranging from P2,501 to P5,000 while most of the staff had an average net pay below P2,500. The amount of Accounts Receivable of Faculty for the following respective School Year are: School Year 2006-2007 - P2,450,027.24; School Year 2007-2008 - P2,547,617.38; School Year 2008-2009 - P2,659,385.02, School Year 2009-2010 -P4,828,857.54. On the other hand, the amount of Accounts Receivable of Staff for the following respective School Year are: School Year 2006-2007 - P 3,489,895.74; School Year 2007-2008 - P4,180,301.98; School Year 2008-2009 - P5,016,403.82; School Year 2009-2010 - P6,678,299.85.

The trend of the account receivable from faculty was increasing from 3.98% in School Year 2007-2008, 8.55% in School Year 2008-2009 and 81.58% in School Year 2009- 2010. The same trend is also seen in the Accounts Receivable from Staff. From 19.78% in School Year 2007-2008, it increased to 20% in School Year 2008-2009 and, rose higher to 33.13% in School Year 2009-2010.

For School Year 2006-2007, the total charges including old accounts from previous years of full-time faculty amounted to P9, 870,617.12 and more than 70 percent (73.18%) collected was paid during the same year; 10.66% was paid in School Year 2007-2008 and 2.92% in School Year 2009-2010.There was a balance of P 865,410.82as of May 31, 2010.For School Year 2006-2007, the total charges including old accounts from previous years of full-time staff amounted to P 8,124,507.30. More than 56 percent (56.85%) was paid during the same year and as of May 31, 2010 there was a balance of P1,233,320.27. Of all the nature of accounts receivable, old accounts had the highest account balance. As the account gets older, it became more difficult to collect On average, the faculty paid 80.26% of the current year charges. On the other hand, staff paid 70.56% of the current year charges.

In School Year 2006-2007, there is a .43% difference in the percentage of payment between female and male faculty respondents with regard to the payment of old accounts from School Year 2007-2008 to School Year 2009-2010. The differences in the percentage of payment between female and male faculty respondents are 2.37%, 3.99% and 2.86% respectively. The difference in the percentage of payment between female and male faculty respondents is 2.49%. On the other hand, payments made for old accounts for School Year 2008-2009 and School Year 2009-2010 are 1.03% and .51% respectively. The difference in the percentage of payment between female and male faculty respondents is 1.42% and payment for old accounts has a difference of 1.45%. For School Year 2009-2010, there is a difference in the percentage of payment of 11.16% between female and male faculty respondents. Payment patterns between female and male staff are not consistent. For school year 2006-2007, payments made by male staff were 2.81% higher as compared to female staff. In school year 2007-2008, it was the female staff who had a higher payment percentage as compared to the male staff, payment made by female staff was 4.32%. However, in the next succeeding school years, the payments made by the male staff were higher as compared to that of the female staff. It was higher by 12.68% in 2008-2009 and 0.44% higher in 2009-2010. A comparison of payment habits of female and male full-time staff for School Years 2007- 2008, 2008-2009 and 2009-2010, shows that payments made by male-full time staff was higher to that of female full-time staff by 4.69%, 1.37% and 1.62% respectively. In School Year 2008-2009, the payments made by female full-time staff were higher by 5.57% as compared to the male full-time staff. But in SY 2009-2010, payments made by the male full-time staff were higher by 3.32% as compared to female full-time staff. For SY 2009-2010, the payments made by male full-time staff was higher by 3.36% as compared to the payments made by female full-time staff. Full-time single faculty has less charge compared to full time married faculty, although the former paid a lesser amount compared to the latter during the School Year 2006-2007. The data revealed that during School Year 2007-2008 until School Year 2009-2010, the payment of both married and single full-time faculty decreased. On the contrary, married full-time faculty has a greater account balance compared to the full-time single faculty. A comparative analysis of the payment status on a school year to school year basis shows that in School Year 2006-2007, payments made by single full-time staff were by higher by 16.65% as compared to the married staff. The same holds true in School Year 2007- 2008 where payments made by single staff were higher by 0.96% as compared to married staff. However, for the next succeeding school years, payments made by married staff were now higher as compared to single staff. Their payments were higher by 6.46% in School Year 2008-2009 and higher by 0.95% in SY 2009-2010. In School Year 2006-2007, the respondents with zero dependent has the lowest percentage of payment followed by respondents with four dependents and those with two dependents has the highest percentage of payment. The difference between the highest and the lowest percentage of payment is 15.34% with regard to the payment of old accounts. For School Year 2007-2008, those with zero dependents have the highest percentage of payment and those with four dependents have the lowest percentage of payment and there is a difference of 7.99%. For School Year 2008-2009, those with only one dependent have the highest percentage of payment and those with three respondents has the lowest percentage of payment with a 4.04% difference. For School Year 2009- 2010, those with zero dependent have the highest percentage of payment and those with two dependents have the lowest percentage of payment with a 3.71% difference. Although they do not have dependents, still they have the highest balance compared with those staff having dependents. Full-time staff with zero dependent have the highest payment during the School Year 2006-2007 followed by full-time staff with four dependents. During the School Year 2007-2008 it decreased as compared to School Year 2006-2007. The difference between the full-time staff with dependents with highest level of payments and staff with lowest level of payments that is belonging to the 0 dependents and 2 dependents category, would show that in School Year 2006-2007, there was a difference of 12.81%; in School Year 2007-2008, there was a difference of 11.83%; in School Year 2008-2009, there was a difference of 16.56%; and in School Year 2009-2010, there was a difference of 0.17%. Those faculty who have served the University for 31-40 years have the lowest percentage of payment and those faculty below 10 years of service have the highest percentage of payment with a 29.67% difference. With regard to the payment of old accounts in School Year 2007-2008, those under 11-20 years in service have the lowest percentage of payment, and those under 31-40 years have the highest percentage of payment with a 7.86% difference in School Year 2008-2009; those under 11-20 years have the highest percentage of payment with a 4.71% difference. In School Year 2009-2010, the highest percentage of payment are those under 31-40 years and the lowest percentage of payment are those under below 10 years with a 7.99% difference. In School Year 2006-2007, full-time staff that have served below 10 years have a highest payment during the School Year 2006-2007, and those staff who have served the University for 31-40 years have the lowest percentage of payment with a 30.84% difference. With regard to the payment of old accounts in School Year 2007-2008, those under 21-30 years in service have the highest percentage of payment and those under 11-20 years have the lowest percentage of payment with a 8.79% difference. In School Year 2008-2009, those under 11-20 years have the highest percentage of payment and those under 21-30 years of service have the lowest percentage of payment with a 23.32% difference. In School Year 2009-2010, the highest percentage of payment are those under 21-30 years and the lowest percentage of payment are those under below 10 years with a 4.56% difference. In School Year 2006-2007, a faculty member with a basic salary of 10,001-20,000 has the highest percentage of payment and those faculty with a basic salary of 20,001-30,000 have the lowest percentage of payment with a 23.37%. With regard to the payment of old accounts, those faculty with a basic salary of 20,001-30,000 have the highest percentage of payment and those faculty with a basic salary of 10,001-20,000 have the lowest percentage of payment for School Year 2007-2008, School Year 2008-2009, and School Year 2009-2010 with a difference of .97%, 2.03% and 5.76% respectively. For staff, the difference of payments between the group with the highest variable, those earning salary between 20,001 - 30,000 and those with the lowest variable, 10,001 - 20,000 is 36.57% for School Year 2006-2007. Their difference in School Year 2007- 2008 is 4.02% and 11.06% in School Year 2009-2010. By School Year 2009-2010, the 20,001 - 30,000 bracket already paid their accounts payable. Faculty members with an average net pay of 12,501-15,000 and 15,001-17,000 have a 100% payment for their charges for School Year 2006-2007 and those faculty with average net pay at 7,501- 10,000 have the lowest percentage of payment, and there is a 45.44% difference with regards to payment of old accounts. For School Year 2007-2008, those with average net pay of 7,501-10,000 have the highest percentage of payment and those with average net pay of 2,501-5,000 have the lowest percentage of payment with a 10.01% difference. For School Year 2008-2009, those with average net pay of 5,001-7,500 have the lowest percentage of payment and those with average net pay below 2,500 have the highest percentage of payment with 6.08% difference. For School Year 2009-2010, those with average net pay of 7,501-10,000 have the highest percentage of payment and those with average net pay of 5,001-7,500 have the lowest percentage of payment with a 1.69% difference. The difference of payments of full-time staff between the group with the highest variable, those earning salary between 7,501-10,000 and those with the lowest variable, below 2,500 is 48.42% for SY 2006-2007. Their difference in School Year 2007-2008 is 9.61% and by School Year 2008-2009 to 2009-2010, the 7,501- 10,000 bracket already paid their accounts payable.