Council approves P5.2B budget-A A +A
Wednesday, December 4, 2013
THE City Council approved on final reading Tuesday the Davao City 2014 annual budget pegged at P5.16 billion, with the bulk going to the City Mayor's Office (CMO) with total appropriation of P1.5 billion.
The members of the City Council unanimously approved the annual budget, amounting to P5,165,430,052.
The appropriation of the entire budget consists of the general fund proper (P4,127,933.539), economic enterprises (P103,824,815), and development fund (P913,671,698).
Under the general fund proper, CMO takes the highest percentage of allocation since its budget includes the funds for the Peace and Order Program, the Central 911, Traffic Management, Lingap Program, and eight other units/offices.
The sources of funds of the annual budget is from local sources (local taxes, fees, permits and license income, service income, business income) with P2,107,785,000; economic enterprises with P124,950,000; and IRA with P2,932,695,052.
Meanwhile, an increase of P658,662,582 or 15 percent is reflected on the 2014 sources of funds as compared to the previous year, attributed to the increase in the Internal Revenue Allotment (IRA) for 2014 following an increased collection in internal revenue in 2011.
The IRA for 2014 is pegged at P2,932,695,052. It has increased by 12 percent or P305,950,782 compared to P2,626,744,270 in 2013.
Published in the Sun.Star Davao newspaper on December 04, 2013.