P7.6-B 2018 budget ok’d

THE 18th Davao City Council approved on third and final reading yesterday the Supplemental Budget No. 2 for 2017, and the 2018 Annual Budget.

The city council approved yesterday worth P7,639,481,158 annual budget of Davao City for 2018.

This will comprise the total budget for expenditures under the general fund proper, the economic enterprises for the operation of markets, slaughterhouse, Davao City Recreation Center, Magsaysay Park, cemeteries, Pasalubong center, and the annual development fund.

With the approved amount, 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 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.

Based on the draft of the ordinance and the committee report, which was approved on second reading, the budget is earmarked at P7.8 billion a certified by the City Budget officer from local sources and Internal Revenue Code.

But with this available amount it was noted 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 This remaining balance needs another ordinance to be utilized.

Meanwhile, aside from the annual budget, the council also approved P714,668,560 worth Supplemental Budget 2 (SB 2) for 2017. KVC (For full story visit www.sunstar.com.ph/ davao/)