City’s P7.8-B budget up for final reading

THE 18TH Davao City Council is set to approve on third and final reading this week the P7.8 billion budget of Davao City for 2018.

Davao City Councilor Danilo Dayanghirang in an interview with Sun. Star Davao last Friday said the committee report on the item recommended by the committee on finance, ways and means, and appropriations did not meet any strong objections.

“Wala man so far, so far the endorsement is well presented and the members of the council appreciated it. I have not encountered any strong objection. Next week will

be the third and final reading,” he said.

Based on the copy of the ordinance, which was approved on second reading, the budget is earmarked at P7.8 billion -- P3,325,867,119 of it will be sourced from local sources and P4,474,132,881 will come from the city's Internal Revenue Allotment (IRA).

Based on the ordinance, the total budget will be used for the aligned projected expenditures of the city pegged at P7,639,481,158 wherein 81.6 percent or P6.2 billion will be allotted for the General Fund, 16.6 percent or P1.2 billion will be allotted for the Development Fund, and 1.8 percent or P134,272,650 will cover the operational expenses of eight economic enterprises of the city.

General fund will cover the expenditures for statutory and contractual obligations, and other lump sum appropriations, personal services, maintenance and other operating expenses (MOOE) and capital outlays of the departments, offices and units of the city government of Davao.

The development fund will cover expenditures for infrastructures and non-infrastructure projects including debt servicing for the ensuing year.

Meanwhile, there will be an unappropriated balance of P160,518,842 under the Annual Development Fund, and the Economic Enterprises in the amounts of P72,102,384 and 88,416,458, respectively.