DAVAO CITY, Philippines – Just before the year ends, the 18th Council of the Sangguniang Panlunsod approved in the third and final reading the proposed P8.8 billion budget of the city.
The Council voted yes to allocate a total of P8.8Billion for the city’s annual budget that is seven percent higher compared to the P7.6 billion appropriation this year.
The 2019 approved budget came from the P3.9 billion local sources and P4.9 billion internal revenues of the city.
In its breakdown, a total of P618,316,444.36 is available as “Source of Funds” for the General Fund Supplemental Budget (SB) 2 for general fund proper and development fund appropriations.
Under the general fund, the budget allocated is amounting to P412.4 million while under the development fund the city will allocate a total of P205.8 million.
Councilor Danilo Dayanghirang, chairperson of the finance, appropriations; ways and means committee said the budget would ensure the delivery of basic services to the city’s 1.5 million residents and fund the local government’s operations.(davaotoday.com)