City pushes P10.4 billion annual budget for 2020

CEBU, Philippines — Cebu City Mayor Edgardo Labella has proposed an annual budget worth P10.4 billion for 2020.

The mayor submitted his budget proposal to the City Council on Wednesday for appropriate action. Bulk of the P10,461,820,000 proposed budget next year or P4.8 billion was earmarked for general public services.

At least P2.9 billion was allocated for social services, including the financial aid for the senior citizens. The executive department has earmarked P700 million for debt servicing, mostly payment for the loan for the South Road Properties.

Economic services get P508 million while P500 million was allocated as local development fund. At least P492 million will be spent as aid to the barangays. Disaster fund is P435 million while another P20 million was earmarked for miscellaneous expenses.

Labella said the 2020 annual budget will be funded out of the city’s revenues, sales of the SRP lots, and Internal Revenue Allotment (IRA).

The City Council is expected to refer the budget proposal to the committee on budget during their regular session next week.

Councilor Raymond Alvin Garcia, chairman of the committee on budget, said the City Council needs to approve first the Annual Investment Plan before they could start the budget deliberation.

The Cebu City Development Council recently approved a P15 billion proposed AIP next year. FPL (FREEMAN)