P7.6B budget approved

Councilors unanimously favor Mayor Sara’s request

THE CITY Council yesterday approved on third and final reading the proposed P7.6 billion annual budget for the local government next year.

The lawmakers unanimously voted the approval of the 2018 budget of the city government endorsed by Councilor Danilo Dayanghirang, committee chair on budget and finance, as requested by Mayor Sara Duterte-Carpio.

The budget will be used for the projected expenditures of the city, amounting to P7,639,481,158, where 81% of the budget will be allotted for the General Fund covers personal services, maintenance and other operating expenses, and special appropriations.

The 16.6% of the budget will go to the Development Fund, which finances the construction and rehabilitation of health centers, government building, roads, highways and bridges, and other infrastructure projects.

The remaining 1.8% of the budget will cover the operational expenses of eight economic enterprises of the city.

The annual budget is funded by revenues and income from the city’s internal revenue allotment (IRA), revenues from local sources and receipts from economic enterprises.

For 2017, the city has P6.9 billion budget, a 10% increase compared to the P6.3 billion in 2016

Meanwhile, the City Council also approved the P714,668,560 supplemental budget 2 (SB 2) for 2017 on its third and final reading.

Based on the ordinance granting legislative authority to the proposed SB2 of the city government of Davao for 2017, general fund proper got the biggest share of 62% or P446,470,519. Followed by the development fund with 37% or P261,775,172 while Davao City Economic Enterprises has a one-percent share of P6,422,868.

Funds will be sourced from the retained operating surplus, reversion of accounts payable and transfers from trust fund property.