Bacolod City 30% IRA dependent; SP reviews P1.1-B 2009 budget
BACOLOD CITY – Year 2009 is another milestone to Bacolod since this year's P1 billion budget will increase by 10% next year or P1.1 billion.
Bacolod City is dependent on the Internal Revenue Allotment (IRA) for only 30 per cent.
Mayor Evelio Leonardia attributed this achievement to the increase in business and real property taxes which is an indicator of the healthy financial condition of Bacolod.
Leonardia believes that the substantial and dramatic increase in the local income is also a show of confidence on the part of the taxpayers in the present administration.
According to the Department of Interior and Local Government about 90 percent of the local governments are dependent on the IRA, which usually comprises more than 50 percent of their budget.
From the 1960s to the 1980s, Bacolod always had a bigger budget than Iloilo but sometime in 2001, Iloilo under the leadership of Mayor Mayor Jerry Treñas overtook Bacolod.
But today Bacolod overtook Iloilo City when it belonged to the billionaire's club in 2008.
The increase in the annual budget will improve the overall services of the city, Leonardia said.
Meanwhile, Vice-Mayor Jude Thaddeus Sayson announced that he received the copy of the budget before the deadline set by law which is on or before October 16.
Because of the joint efforts of the city's collecting offices like the Permits and Licensing Division, City Treasurer and City Assessor, the local income of the city is definitely increasing.
"Let's give the credit to the people behind these offices who are efficiently doing their job and all taxpayers who did their role as responsible citizens," Sayson said.
Councilor Al Victor Espino, chairman of the Committee on Appropriation and Finance, partly tackled the budget Wednesday and give every committee member time to review and scrutinize it.