‘Realizable’ budget

AMOUNT LOWER THAN LAST YEAR’S

Less than 10 days to deadline, Cebu City’s executive department is eyeing at proposing a budget of P6.3 billion for 2018, an amount lower by P900 million than its budget this year, which is P7.2 billion.

City Budget Officer Marietta Gumia explained, “Conservative kaayo ni-project ang local finance (committee) para realizable ang estimates and ma-meet ang target kay mo-suffer ang local dream fund o kining calamity fund, which is five percent sa budget.”

The executive department has until October 16 to submit its budget proposal to the City Council.

It will be finalized within the week.

Gumia said the local dream fund will be transferred to trust fund if it will not be utilized within the year.

In 2012, the City Council approved a P5.3 billion annual budget, which was roughly half of the proposed budget of P11.8 billion. The year after, it approved P5.19 billion; P5.9 billion in 2014; and P13.4 billion in 2015.

City Treasurer Tessie Camarillo said the executive department did not include as a source of fund the P11 billion from giant developers that bought the P45.2 hectares of lots at the South Road Properties (SRP).

Mayor Tomas Osmeña has been vocal about his plan to rescind the sale of the SRP lots, which materialized during the term of former mayor Michael Rama.

It was in 2015 when the city sold the 45.2 hectares of lots at P16.7 billion. Developers then made a 50 percent down payment amounting to P8.35 billion.

In 2016, the city got a P3 billion first installment payment, but Osmeña ordered that the money not be utilized, as he wants to rescind the sale.

For next year, Osmeña said the city will prioritize projects that would mitigate problems on flood, traffic, and garbage collection, among others.

He said the city will identify all disaster-prone areas, which will be declared as such through a legislative pronouncement by the Council.

“We are starting to do some asphalting but some roads we have to cement, we cannot asphalt anymore because it’s prone to flood. When flood comes out, it destroys the asphalt,” he said.

Several roads would also be cemented, like those in Barangays Mambaling, San Nicolas, Lahug, and Apas, among others.

Osmeña said the road asphalting and cementing projects are estimated to cost about P1 billion budget.

“We don’t like to be pressured to rush the sale of our three-hectares where we supposed to get three billion. So, we will get a revolving line from Land Bank of the Philippines for P2 to P3 billion and they are charging us 3 percent interest,” he said.

The infra projects, he said, are projected to be approved before Christmas, he said.