City Council rushes approval of P458.4-M supplemental budget Share On Facebook Share On Myspace Share On Stumbleupon Share On Digg Share On Email Share On Print | Share On Facebook_likeMore | By Jereco O. Paloma

THE Davao City Council approved on third and final reading on Friday the city's first supplemental budget (SB1) for 2012 amounting to P458.4 million.


THE Davao City Council approved on third and final reading on Friday the city's first supplemental budget (SB1) for 2012 amounting to P458.4 million.

Councilor Myrna L'Dalodo Ortiz, chair of the City Council committee on finance, ways and means, and appropriation, in an interview at the plenary hall on Friday, said the approval of SB1 was rushed because the city has to pay its loan with the Land Bank of The Philippines (LBP) to avoid incurring penalties.

The SB1, which totaled to P458,432,205.42, passed the council's second reading during its regular session on Thursday.

This year's SB1 is P87.1 million lower than last year's SB1 of P545,556,140.

"Kailangan nato ni mabayaran atong utang sa Land Bank para dili ta madak-an sa penalty (We have to pay our debts with the LBP to avoid incurring penalties on our part)," Ortiz said.

At least half of this year's SB1 was sourced from reversion of current and prior appropriations amounting to P231,540,675.98; 47 percent from unappropriated surplus from the previous years that totaled to P217,313,412.51; P6,879,116.93 from new revenues; and roughly P2.7 million from the Priority Development Assistance Fund (PDAF).

In terms of appropriation for this year's SB1, most of the fund was placed under general fund proper totaling to P236,668,436.70 representing 52 percent of the entire SB1; P213,162,139.13 under Development Fund or 46 percent; and P8,601,629.59 translating to 2 percent.

Under the general fund proper, a large chunk was appropriated to the City Mayor's Office (CMO) in the amount of P217,952,619.91 translating to P92.1 percent of the total amount of SB1.

Of the amount, 38 percent or P84,410,694.63 is allocated for peace and order program of the city or almost a million higher than the P82,410,694.63 budget appropriation for the city's Lingap program.

"Among the appropriations to be funded under the peace and order program is the procurement of vehicles for Task Force Davao and for various barangays in their peace and order campaign," Ortiz said.