THE Department of Budget and Management (DBM), in partnership with the Association of Local Budget Officers-Central Visayas Inc. (ALBOCV), has successfully conducted the Public Financial Management (PFM) Competency Program for local government units (LGUs) in Central Visayas from February 19 to 21, 2024 at the Bai Hotel, Mandaue City.
More than 600 local budget officers from the provinces of Bohol, Cebu, Negros Oriental and Siquijor; City of Cebu, City of Mandaue and City of Lapu-Lapu; and from other cities and municipalities in Central Visayas were engaged to deepen their knowledge and strengthen their capabilities in all stages of the PFM process -- from budget preparation and procurement to budget implementation and accountability.
During her keynote message, DBM Secretary Amenah F. Pangandaman emphasized that the PFMCP will not only assist LGUs in budgeting their local finances on the right priorities, but also on managing their budget wisely and within their means.
"I cannot emphasize enough the crucial role of PFM practitioners in bridging the needs of our fellow Filipinos and the government's responses, especially in crafting a truly inclusive and people-centered budget. And this is what the Bagong Pilipinas is all about -- shaping a government that is truly responsive to the needs of the people; one that is visionary and accountable to its constituents; and one that fulfills its promise of prosperity for everyone. Our growth and prosperity will never be truly inclusive without our local governments," Pangandaman said.
The PFMCP for LGUs covered sessions on Maintaining PFM Understanding, Principles of Internal Controls and Internal Audit, Relationship Management, Budget Preparation, Budget Authorization and Review, Budget Execution and Accountability and Procurement.
The PFMCP for LGUs is aligned with the DBM's commitment to improving the government's spending efficiency by encouraging LGUs to practice sound and efficient fiscal management in utilizing their resources, and ultimately, promote the timely and effective implementation of local programs and projects aimed at reducing poverty rates; providing more quality jobs; increasing infrastructure and human capital investments and building a resilient and prosperous economy.
Pangandaman was warmly welcomed by the local chief executives of Cebu led by President of the League of Mayors and City of Cebu Mayor Michael Rama and ALBOCV President Samuel Penales. (PR)