BACOLOD City – This highly urbanized city will have a P3.6 billion budget allocation for 2024. Members of the Sangguniang Panlungsod approved the proposed appropriation on Wednesday, Dec. 13.
The 2024 budget is higher by P350 million, or about 9.7 percent, than the current budget of P3.25 billion. The city has also maintained its fiscal trajectory since attaining the P3-billion mark in 2020, according to Mayor Alfredo Alfredo Abelardo Benitez.
It will be sourced from the local revenues amounting to P1,629,870,000, with an equivalent of 45 percent, and 55 percent, or P1,970,130,000, from the national tax allotment.
Of the P3.6 billion, the largest portion is reserved for the general public services sector, totaling P1,325,986,149, making up 36.83 percent of the annual budget.
Under this sector, the executive and legislative services have the predominant shares of P828,604,409 and P123,547,653, respectively, said Benitez in his budget message.
He said the remaining amount is distributed among the rest of the departments and offices in the city government. Specifically, 34.61 percent (P1,245,860,629) for social services; 8.83 percent (P317,956,557) for economic services; and 19.73 percent (P710,196,665) for others.
The city mayor explained the annual budget was formulated to encapsulate the centralized goal of transforming Bacolod City into a Super City — a global city with a thriving economy and skilled labor force and a model for green development and upright governance./PN
