THE Cebu Provincial Government will have a 2018 annual budget of not less than P4 billion because of its increasing income.
Provincial Budget Officer Danilo K. Rodas said the budget next year is higher than the P3.6-billion budget this year.
“I can’t give the exact figure for 2018 budget because we are still evaluating the income estimate. However, our budget for next year will be not less than P4 billion because our income is also increasing,” Rodas said.
He said that the finance committee is still finalizing the estimated income for next year to come up with a reasonable figure.
For the 40 percent share of Cebu Province on the Internal Revenue Allotment (IRA), Rodas said it increased by seven percent or about P200 million this year.
“If our IRA share increases, that means the revenue collections of BIR (Bureau of Internal Revenue) will also increase,” Rodas said.
He said that while IRA is based on land area, population and income, it is steady because revision of population happens only every four years.
“The latest official census is used to compute IRA for the next four years,” Rodas said.
He said that the annual budget for next year, was discussed during the Provincial Development Council PDC) meeting last Sept. 27 at the Capitol Social Hall.
“The PDC approved the projects under the development fund, disaster fund and other proposed projects to the Province of Cebu for 2018,” Rodas.
He said that although the project proposals amounted to about P6 billion, the funds can be allocated through supplemental budgets. (EOB)