ILOILO CITY (PNA) – The Iloilo Dinagyang Foundation, Inc. (IDFI) has received P11.5 million in cash and pledges with nearly three days left before the 2010 Dinagyang Festival.

The amount is much higher than the foundation’s estimated budget of P9 million.

IDFI’s committee on finance chair Marissa Segovia said they received P11.5 million in cash and pledges.

The foundation is expected to accrue expenses similarly with the present cash and pledges.

Segovia said most of the cash donations and pledges came from government and private sectors. The foundation received smaller amount of donations but it contributed to the IDFI’s coffers to cover its expenses incurred before and after the event.

The foundation is also expecting the release of P1 million in donations from the Department of Tourism (DoT) with the assistance of Mayor Jerry Trenas and DoT 6 Director Edwin Trompeta.

In yesterday’s final media briefing, Segovia was very proud to say that the foundation did not resort to borrowing to finance the activities in line with the celebration.

The foundation was able to pay its P1 million debt from the previous savings in less than a week. Last year’s savings amounted to P1,750,000, said Segovia.

“Members of the foundation can wear their best smile with the present bank savings,” said Segovia.