Dagupan proposes P948-M annual budget in 2018
THE office of Mayor Belen Fernandez has proposed to the city council a P948,000 annual budget for Dagupan City next year.
This was gleaned from a letter sent to the city council by Atty. Farah Marie Decano, city administrator, through Vice Mayor Marc Brian Lim, the council’s presiding officer dated Oct. 13, 2017, released to the media on Wednesday by City Secretary Ryan Ravanzo.
This is so far the biggest annual budget of Dagupan City ever, P80 million higher than the current 2016 annual budget of the city in the amount of P868 million.
Decano said the proposed P948 annual budget for 2017 was endorsed in a resolution of the City Development Council (CDC).
In the proposed annual budget, P329,821,985 will go to personal service, P421,904,113 for maintenance and other operating expenses (MOOE), P167,889,901 for capital outlay; and P28,384,000 for financial expenses.
Mayor Fernandez said Dagupan aims to be the first city in Region 1 to have an annual budget of more than P1 billion in 2019.
In its proposed P948 million annual budget for 2018, Dagupan will be just P52 million short of P1 billion.
Fernandez is confident that Dagupan can reach its target to post more than P1 billion due to very encouraging economic activities in the city as new business establishments continue to come in.
Two shopping malls are set to start operations here next year that will not only contribute additional taxes to the city but also employment to thousands of the city’s college graduates.
Fernandez said the updated revenue code of the city as well as updated taxes on gross receipts from business establishments will fund the additional increase in the city’s annual budget.
A source said that a more than P1 billion budget in 2018 may be sourced partly from the P119 million realized by the city for the sale of MC Adore building which was yet put into trust fund at the start of the administration of Mayor Fernandez in 2013.
Or it could be partly funded by the increased Internal Revenue Allotment (IRA) owing to the impending reclassification of Dagupan from second to first class due to improved revenue collection during the past four years. (Leonardo Micua)
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