The Sangguniang Panlungsod has recently approved the proposed annual budget of City Mayor Patrick Escalante the sum of P508,301,056.00 for general fund and 23,033,518.00 for Economic Enterprise Fund in its regular session last December 14, 2011 at SP Session Hall.
Councilor Antonio Lacson, III, chairperson committee on finance, moved to enact Appropriation Ordinance No. 2011-08 and to authorize the Local Chief Executive or the Presiding Officer to augment any item in the approved annual and supplemental budget in their respective offices from savings in other items within the same expense class with their respective appropriations.
Mayor Escalante in his report said the reduction on RA share from P546, 468,191 in 2011 to P464, 801,056.00 for 2012 resulting to a difference of P81, 667,135.00 was the corollary effect of the number of municipalities that were converted to chartered cities.
'The only solution, as far as dependence on IRA is concerned, is to find means to increase our local revenues and this could be done through the unselfish cooperation not only by the city officials but by the people of Cadiz in general', the mayor said.
Despite the financial constraint that the city is facing, the city government will implement the third tranche salary schedule for Local Government Personnel effective January 1, 2012 based on income class while the City Health Workers will still enjoy the stipulated rate of RA 7305 or otherwise known as Magna Carta for Public Health Workers and the Reorganization of Organizational Structure in accordance with SP Resolution No. 2010-185.
Of the 508.3 million budget for general fund, 229.3 million is intended for general public services, 112,532,000 will be spent for the Economic Services, 53.7 million for Health services, 34.9 million will go to social services, 6.2 million aid to 22 barangays , 46 million for debt servicing and 25.4 million is appropriated for Local Disaster Risk Reduction and Management Program.
The city government is paying 36 million as loan amortization to PNB, 6.5 million to Phil. Veterans Bank, 1.5 million to Land Bank of the Philippines as interest payments for IRA Monetization, 1.7million for Security and Intelligence Services./*
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