Aklan SP Starts Marathon Budget Hearings Today

Kalibo, Aklan- Spearheaded by the Sangguniang Panlalawigan Committee on Finance, Appropriations, Budget and Ways and Means chaired by the Hon. Selwyn C. Ibarreta, the provincial legislative body was initially briefed by the Provincial Local Finance Committee (PLFC) this morning (November 11, 2010) of the salient and substantial features of the 2011-almost a billion peso General fund and EEDD annual budgets for 2011 proposed by the Governor Carlito S. Marquez.

The initial briefing conducted by the PLFC centered on actual and projected revenues by sources during the last three years, specific expenditures programs per sector and per office, macro-sectoral expenditure program and outstanding loans incurred by the province, both under the general fund and EEDD budgets.

Marquez has proposed a total of P976, 436,012 general fund and EEDD budget P587, 989,907 for the general fund and P388, 446,105 for EEDD.

Provincial Accountant Ma. Victoria A. Salido has declared in the briefing that the province of Aklan has an outstanding loan balance as of September 2010 to the total amount of P 456,964,648.24 broken down as follows:

LOGOFIND for DRSTMH Expansion-P68, 767,362.28

RPTA System (PNB) - P4, 747,000.91

Electronic Hospital Management Information System (LBP)-P19, 858,851.35

Aklan Sports Complex (LBP)-P47, 495,191.17

School of Nursing Building-P27, 471,933.01

Installation of Unified Ticketing (LBP) System, Passenger Holding Area, Jetty Port Areas -P28,624,299.53.

Even then, the SP has further approved the request of Governor Marquez for a standby loan term facility with the Land Bank of the Philippines to a total amount of P480 million for future programs and projects of the Province that will need financing.

The Bureau of Local Government Finance has certified that as of this year, the provincial government of Aklan has a borrowing capacity of P642-million based on its Net Debt Service Ceiling of P100.18 million.

The provincial government of Aklan has a duly total audited total annual income in 2009 of P733, 919,997.47.

The budget hearings are expected to lost up to the middle of next month to beat the statutory deadline by the end of the year for the SP to pass the budgets.