DBM Region VI to release P942-M IRA this week
The Department of Budget and Management (DBM) Regional Office VI will be releasing the P942,780,000 Internal Revenue Allotment (IRA) shares of the local government units (LGUs) in Western Visayas within this week.
DBM Regional Dir. Nilo Buot said that 80 percent of the IRA share of the LGUs to be released for the month of February will be for the six provinces, cities and municipalities in the region.
However, the 80 percent IRA share for the barangays will be released on Monday next week.
Buot said that they intend to release the balance of IRA's 20 percent for the LGUs on Feb. 25.
The IRA share being released to the LGUs is based on the equal sharing formula being used which takes into consideration the income and area of the province, city or municipality. (PNA)