Regarding one of its reports about financial support data circulating on the internet recently, the Cultural Development Fund (FDC) reaffirmed in a statement on Friday that the report has been tampered with and that the figures contain a number of errors and inaccuracies, urging the public to verify the information through official channels, such as the official websites of the FDC, the Public Assets Supervision and Planning Office (GPSAP) and the Printing Bureau (IO).
The altered FDC report purporting to list its financial support to a local entertainment company resulted in a heated discussion on social media platforms last week. The altered report alleged that “the company received over 40 million patacas in subsidies and loans from the government in 10 years”.
The FDC statement did not reveal the amount that the respective company did in fact receive in financial support from the government.
In addition to jointly monitoring the evolution of the funded projects with the community, the statement underlined, the FDC will also continue to pay attention to the impact of funded projects on social development during the financial support period, while also carrying out proper oversight of funded projects in an “open and transparent” manner.
If there is any violation by the beneficiaries of the “Regulation for the Granting of Financial Support by the Cultural Development Fund” and the regulations of the relevant financial support plans, the statement stressed, the FDC will cancel the granting of financial support in line with the applicable requirements while, at the same time, requiring the beneficiaries to refund all sums received. The statement added that any applications from the violators will be rejected within two years from the date of the notice of cancellation of the grant.
Meanwhile, according to the statement, since the establishment of the FDC in January last year, the FDC has created a “rigorous” mechanism for evaluating, approving and overseeing the granting of financial support, taking into account the opinions in a report issued by the Commission of Audit (CA), the regulation for the granting of financial support, as well as the instructions and requirements set by the GPSAP.
The statement said that the beneficiaries are required to submit regular reports to the FDC on the execution of their projects, while in order to monitor and follow up on the progress of the projects, the FDC also takes the initiative of communicating with companies through site visits, face-to-face meetings and questionnaires, paying close attention to the beneficiaries’ publicity materials and participating in their promotional activities. The FDC promised in the statement to continue to reinforce its supervisory work by requiring the subsisided companies to present audited financial statements of their projects and adjust the amount of funds granted in light of the actual implementation results of projects to ensure the rational use of public funds.
FDC project must have positive impact on society: Ao Ieong
Meanwhile, speaking to the media on the sidelines of the kick-off ceremony of the “Art Macao: Macao International Art Biennale 2023” at the Macau Museum of Art in Nape on Friday, Secretary for Social Affairs and Culture Elsie Ao Ieong U underlined that the approval process for each FDC project will consider whether the project would have a positive impact on society, i.e., the project should not endanger national security and public order, as well as promote good habits. She also stressed that any violations will result in the cancellation of financial support. However, she was quick to add that so far no projects have been cancelled due to non-compliance.
The Cultural Development Fund, according to Ao Ieong, aims to promote the development of the local cultural industry, in which successful local business operators are expected to drive the progress of new cultural and creative enterprises.
Secretary for Social Affairs and Culture Elsie Ao Ieong U, accompanied by Cultural Affairs Bureau (IC) President Leong Wai Man (right), talks to reporters on the sidelines of Friday’s kick-off ceremony of the “Art Macao: Macao International Art Biennale 2023” in the Macau Museum of Art in Nape. – Photo courtesy of TDM
