Bacolod seeks P2.52B budget for 2019
Bacolod City may have a budget of P2.53 billion for 2019, after the city council approved the budget proposal of the city government on first reading.
Mayor Evelio Leonardia submitted the city government’s proposed budget, P270 million higher than the previous year’s, to the Sangguniang Panlungsod last week.
Leonardia said boosting tourism will be a focus of the 2019 budget, adding a significant portion of the budget is for infrastructure development.
Councilor Caesar Distrito, who chairs the city council’s Committee on Appropriations and Finance, said 50 percent of the budget comes from the Internal Revenue Allotment (IRA) amounting to P1.26 billion (https://thedailyguardian.net/negros/bacolod-proposes-p2-52-b-budget-for-2019/).
Distrito said the other half will be from local sources at P1.258 billion.
He said 52.92 percent or P1.33 billion of the budget will go to Maintenance and Other Operating Expenses while 26.21% (P660 million) is for personnel services.
Another 7.29% (P252 million) will go to the Development Fund; 3.24% (P81.7 million) for equipment expenses; 0.32% (P7.9 million) for financial expenses; and 10.02% (P184 million) for other purposes.
Leonardia pointed out the city’s collection of local taxes and real property and business taxes are rising, mainly to the confidence of the valued taxpayers.
He added the city is now at the turning point of its fiscal management history.
Meanwhile, Distrito said he will conduct public hearings on the proposed budget and will invite all city government departments to defend it.