SP initiates hearings on P5.7-B provincial 2024 budget
THE committee on appropriations of the Sangguniang Panlalawigan started hearings for the proposed 2024 annual budget of Pangasinan, totaling P5.7 billion.
Vice Governor Mark Lambino said since the proposed Appropriation Ordinance No. 4-2023 passed its first reading, it was immediately referred to the committee chaired by Third District Board Member Vici Ventanilla.
He said the budget ordinance, titled “An ordinance enacting the General Fund Annual Budget for the operation of the Provincial Government of Pangasinan during the period January 01, 2024, to December 31, 2024, and providing appropriations,” was scheduled for successive hearings starting on Tuesday, October 17, following the Monday session.
Towards this end, he said local finance committee members and provincial department heads are expected to present their respective budgets during these hearings.
The Appropriations Committee’s report will subsequently be presented by its chair to the plenary for the body’s approval.
Vice Governor Lambino highlighted the 6.5 percent increase from the National Tax Allocation (NTA), that contributed an additional P400 million to the province’s annual budget. This increase was made from the 2023 fiscal year budget, pegged at P5.3 billion.
More than 30 percent of the budget is allocated to personnel services, primarily for the provincial government’s 7,000 employees’ (permanent, casual and job orders) salaries.
The remaining 70 percent of the budget covers plans, programs, activities, maintenance and other operating expenses, mandatory payments, loans, and other taxes.
The vice governor added that the budget focuses on education similar to its 2023 allocation, particularly P30 million in funding for the Polytechnic College.
The 2024 budget also includes debt servicing, funded by Pangasinan’s Development Fund, which accounts for 20 percent of the NTA.
However, no payments will occur for the provincial government’s omnibus loan until the drawdown and eventual remittance happen.
The debt servicing coverage includes P450 million and P300 million loans availed by the previous administration, while the P200 million payment status is still to be confirmed.
Vice Governor Lambino said he’s not sure if the P200-million has been paid completely, but there are some loans that are already considered matured. (Eva Visperas)
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