Wednesday, August 08, 2007
P423.9M SB1 okayed on 2nd reading
By Grace L. Plata
THE City Council approved on second reading the P423.947 million supplemental budget no. 1 (SB1) for 2007 without much fuss in Tuesday's session.
The biggest single allocation is for the mayor's peace and order fund amounting to P180 million while P25.7 million will go to the salary increase of city employees.
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Other major allocations were for infrastructure projects set at P40,453,383.60, the Regional Peace and Order Council Fund set at to P5,439,000, Barangay Enhancement Fund amounts to P4,368,000 and the People's Law Enforcement Body funding is set as P3,506,000.
SB1 will be funded by the following sources: Additional Estimated Internal Revenue Allotment CY 2007 amounting to P312,11,038 comprising 73.64 percent of the total fund; the unappropriated surplus of CY 2006 amounting to P68,063,845 (16.05 percent); Internal Revenue Allotment for CY 2000 and 2001 amounting to P29,651,710 (6.99 percent); reverted appropriations amounting to P7,479,732 (1.76 percent); and the unappropriated balance in the 2007 annual budget amounting to P6,584,696 (1.55 percent).
For more Philippine news, visit Sun.Star Bacolod. href="http://www.sunstar.com.ph/superbalitaDAVAO/index.html">Click here.(August 8, 2007 issue)
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