The enactment of Republic Act 8292, also known as the Higher Education Modernization Act of 1997, authorized SUCs to use its income from tuition fees, other school charges, and generate income and become self-sufficient, as a response to the national government’s move withdrawing the capital outlay (CO) and to gradually withdraw its maintenance and other operating expenses (MOOE).The Commission on Audit (COA) then issued Circular No. 2000-02 to provide accounting guidelines and procedures in the use of income of SUCs pursuant to RA 8292.
Ultimately, SUCs are to operate as a corporate entity, optimally managing their fiscal resources, maximize income and operate efficiently at least possible cost without sacrificing its ability to provide quality education and attaining its goals and objectives.
- 1991 - WVSU invested PhP200,000.00 as seed money to operate its agri-based income generating projects for rice, coffee, broiler, vegetables and banana production, and for the seedling bank with the approval of DBM based on National Budget Circular No. 331 and 331-A dated November 27, 1980 and December 23, 1982, respectively, to retain as Revolving Fund the income from agricultural operations using Fund Code 161. The agri-based projects were all located at the College of Agriculture and Forestry campus in Lambunao, Iloilo.
- 1997 - The enactment of Republic Act 8292, otherwise known as the Higher Education Modernization Act that authorized SUCs to use income from tuition fees and necessary school charges, as well as those generated from the operation of auxiliary services. The enactment of this law has challenged WVSU to generate more income and become self-sufficient as a response to the national government’s move withdrawal of capital outlay to gradually withdraw its subsidy for maintenance and other operating expenses.
- 2000 - WVSU initially established four (4) income generating projects (IGPs) to augment its income and become self-sufficient. These pioneering IGPs were the Dormitory, Language Center, Hometel and the Statistical Data Processing Center.
- 2001 - The IGPs grew to nine (9) with the addition of the Audio Visual Center, Cultural Center, Drop-In Center, Printing Press, and the Review Center.
- 2002 - The Center for Professional Development and Continuing Education (CPDCE) was established as an additional IGP of the University.
2003 - With the new organizational chart of the University approved by the Board of Regents (BOR), the Drop-In Center, Language Center, and the CPDCE were no longer considered as IGPs. Both the Language Center and the CPDE became part of the extension projects of the university under the Office of Extension while the Drop-In Center was under the Gender and Development Office.
- In order to have a comprehensive guide for the operation and administration of IGPs both for agricultural and auxiliary operations, a Manual of Operation for the University Resource Generation Program (URGP) was approved by the BOR in November 17, 2003.
- 2004 - URGP was implemented. The Bookstore started its operation in April under the management of the University Printing Press.
- 2006 - The Language Center was re-integrated to the URGP in May.
To contribute to the realization of the vision of the West Visayas State University as a model for strengthened entrepreneurship among SUCs