LYCEUM OF SUBIC BAY, Inc. a non-stock, non-profit educational institution established in the heart of SubicBay Freeport Zone in June 2003. During the first year of its operation, the institution was registered in the Securities and Exchange Commission (SEC) as National College of Science and Technology, Inc. (NCST) with Mr.Alfonso E. Borda as its first President and Chief Executive Officer. The school started with a five lecture rooms, one computer laboratory, a small HRM-THRO laboratory and a small library with two hundred sixty (260) officially enrolled students. Fifteen of them were full scholars working as Student Assistants (S.A). With the meager budget allocated for its operation the school was able to furnish all rooms with brand new air conditioning units for comfortable learning environment. The demand to provide quality and competitive educational institution inside the Freeport zone is expensive. Not withstanding the reality that the only resource to defray the enormous financial requirements of the institution is from the very minimal tuition fees per semester of about nine to twelve thousand pesos. The situation was beyond sustainability. The amount of collections was not enough to cover the total operational expenses of the school and the Incorporators were no longer interested in infusing additional investments. As a result the school incurred delays in payments of salaries and wages and other utility expenses. Realizing the gravity of the problem, The President called the department heads for a special meeting where he laid down the financial difficulties of the institution. Initially there were natural negative reactions amongst the department heads and some faculty members.
LYCEUM OF SUBIC BAY, Inc. a non-stock, non-profit educational institution established in the heart of SubicBay Freeport Zone in June 2003. During the first year of its operation, the institution was registered in the Securities and Exchange Commission (SEC) as National College of Science and Technology, Inc. (NCST) with Mr.Alfonso E. Borda as its first President and Chief Executive Officer. The school started with a five lecture rooms, one computer laboratory, a small HRM-THRO laboratory and a small library with two hundred sixty (260) officially enrolled students. Fifteen of them were full scholars working as Student Assistants (S.A). With the meager budget allocated for its operation the school was able to furnish all rooms with brand new air conditioning units for comfortable learning environment. The demand to provide quality and competitive educational institution inside the Freeport zone is expensive. Not withstanding the reality that the only resource to defray the enormous financial requirements of the institution is from the very minimal tuition fees per semester of about nine to twelve thousand pesos. The situation was beyond sustainability. The amount of collections was not enough to cover the total operational expenses of the school and the Incorporators were no longer interested in infusing additional investments. As a result the school incurred delays in payments of salaries and wages and other utility expenses. Realizing the gravity of the problem, The President called the department heads for a special meeting where he laid down the financial difficulties of the institution. Initially there were natural negative reactions amongst the department heads and some faculty members.
LYCEUM OF SUBIC BAY, Inc. a non-stock, non-profit educational institution established in the heart of SubicBay Freeport Zone in June 2003. During the first year of its operation, the institution was registered in the Securities and Exchange Commission (SEC) as National College of Science and Technology, Inc. (NCST) with Mr.Alfonso E. Borda as its first President and Chief Executive Officer. The school started with a five lecture rooms, one computer laboratory, a small HRM-THRO laboratory and a small library with two hundred sixty (260) officially enrolled students. Fifteen of them were full scholars working as Student Assistants (S.A). With the meager budget allocated for its operation the school was able to furnish all rooms with brand new air conditioning units for comfortable learning environment. The demand to provide quality and competitive educational institution inside the Freeport zone is expensive. Not withstanding the reality that the only resource to defray the enormous financial requirements of the institution is from the very minimal tuition fees per semester of about nine to twelve thousand pesos. The situation was beyond sustainability. The amount of collections was not enough to cover the total operational expenses of the school and the Incorporators were no longer interested in infusing additional investments. As a result the school incurred delays in payments of salaries and wages and other utility expenses. Realizing the gravity of the problem, The President called the department heads for a special meeting where he laid down the financial difficulties of the institution. Initially there were natural negative reactions amongst the department heads and some faculty members.