Wednesday, October 08, 2003
City budget 4% higher than last year
By Aurea A. Gerundio
* This year's standing budget already reached P2.131 billion as compared to last year's P2.039 billion
THE standing total budget for the year 2003 is four percent higher than the previous year, Davao City Councilor Myrna Dalodo-Ortiz said Tuesday.
Ortiz, chair of the City Council's committee on finance, said they would conduct the first committee hearing Wednesday at the session hall on the three supplemental budgets (SB) submitted by the executive department amounting to P195 million.
"The SBs include the SB2 for the general fund and the two SB1 for the development fund and the economic enterprise. With these, the total budget now stands at P2.131 billion, inclusive of the annual budget of P1.951 billion and P107.2 million SB1. Last year, the total budget was P2.039 billion," Ortiz said.
Ortiz said SB2 for the general fund is P141.8 million, P47.6 million for the development projects and P5.5 million for the city's economic enterprises that include public markets, terminals, slaughterhouses, and ports.
Based on the records furnished to reporters Tuesday, sources of funds for the three SBs are from the existing appropriations in the amount of P119.6 million, P59.6 million from the additional internal revenue allotment (IRA), P8.4 million from the city's share from the national revenues, P5 million from the additional collection of taxes, and P2.2 million from the unappropriated balance from current revenues.
But upon computation, total amount of the sources of funds is short of P100,000 to meet the appropriations for the three SBs.
(October 8, 2003 issue)
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