The city’s budget for fiscal year 2020 may be out by next month, a councilor said.
Councilor Danilo Dayanghirang, committee chair on finance, ways and means and appropriations, told reporters on Monday that he is set to attend budget hearings for the different offices within the month.
“I have already the calendar for the series of committee hearings. My forecast is that we will be approving the budget for second reading in the second week of November,” Dayanghirang said.
According to the Councilor, the budget may increase by a billion this year. Among the factors, he said, is the influx of investors in the City.
“I have not seen it but I am sure it will be more than P9 billion. We may reach to P9.8 B to P10 B,” Dayanghirang said.
“We are just waiting for it, the mayor (Sara Duterte) said once it is complete, she will submit it to us,” she said.
The bulk of the budget, the councilor said, will go to maintenance operating expenditures that may account for about 55% of the budget.
Also, 20%, on Dayanghirang’s estimate, may be allotted for annual development fund, and while some funds may be allocated for non-infrastructure and infrastructure development projects.
Dayanghirang said there might still be supplemental budget to be passed within this year.
“There might be supplemental budget this year, once the accountant and the budget office see excesses and surpluses of the previous year to comply possible circulars of the Deparment of Budget Management like salary increase or bonuses because I think the President announced recently that there might be increases also,” he said.
In August this year, the city approved Supplemental Budget 1 amounting to P1.4 billion.
This year, the city operates with a P8.9 billion budget. About P4.9 billion of such is from Internal Revenue Allotment and P3.9 billion from local sources.