Iloilo City gov’t gets budget
ILOILO CITY (PNA) — The city government will be operating on a 12.089-billion budget in 2017. The Sangguniang Panlungsod (city council) on Tuesday approved the budget, which is lower by 181.285 million, compared to the 2016 budget.
This year’s 12.171-billion budget is boosted by the 1360-million loan of the city government with the Land Bank of the Philippines (LBP). The loan is intended for the construction of school buildings for senior high school, according to Appropriations Committee chair Eduardo Peñaredondo.
The 2017 budget allotted 1426.7 million for the city’s statutory/mandatory obligations; 1108.54 million for contractual obligations; 1163.35 million for financial assistance and other obligations; and 181.89 million for programs and projects.
“With the total budget, the city can best answer and meet the basic needs of our constituents to the best we can and further continue the fast pace development of our city in all areas of concern,” he said.
Meanwhile, City Budget Officer Ninda Atinado said that the city is no longer dependent on its Internal Revenue Allotment (IRA) fund and relies mostly on its local revenue sources.
Some 58.88 percent of the fund will be sourced from local taxes, 40.66 percent from IRA and .45 percent from the 2 percent share in economic zone.
Meanwhile, the SP also approved the 177.8-million budget of the Local Economic Enterprise Office (LEEO).
Peñaredondo in his report expressed hope that the office could earn a higher income next year following the acquisition of new boilers.
Several city councilors also wanted to take a closer look at the provisions of the ordinance creating the LEEO following the losses it has incurred since it started operating.
Peñaredondo added that the ordinance mandates that after five years of losing, the LEEO may be dissolved and its operation will revert to the City Treasurer’s Office (CTO).
To date, the LEEO, which also operates the city public markets, has some 139 million in unpaid electricity bill from the Panay Electric Company (PECO).