BUDGET OKd. The Sangguniang Panlungsod approves on Wednesday (Nov. 15, 2023) the PHP3.6 billion budget of the city government for 2024. The approved budget is 21.88 percent higher than this year's budget of over PHP2.9 billion (Photo by PGLena)
ILOILO CITY – The city council approved on Wednesday the proposed PHP3.6 billion budget for next year.
The approved budget is 21.88 percent higher than this year’s PHP2.9 billion, attributing to the updated city revenue code and high collection of non-taxes revenues.
In his 26-page committee report, PHP1.86 billion of the budget will come from tax revenue, including professional and community tax, property tax and goods and service tax; PHP1.455 billion from the National Tax Allotment; PHP238.88 million from non-tax revenue comprising of service and business income and miscellaneous income; and PHP45 million from the 2-percent share from the economic zone.
The Maintenance and Other Operating Expenses (MOOE) and the Personal Services (PS) will get the lion share at PHP1.463 billion and PHP1.165 billion, respectively.
The higher budget for the MOOE was in anticipation of the increased travel like seminars and meetings, and the hike in prices for fuel, office supplies and electricity due to inflation.
The PS, on the other hand, comprises only 33.68 percent of the total appropriation, far from the 45 percent ceiling.
Other expenditures include the PHP121.95 million for financial expenses, PHP152.558 million for capital outlay and PHP696.479 million for special purpose appropriation, including the local disaster risk reduction management fund, aid to barangays, debt service and the local council for the protection of children. (PNA)
