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LFC holds hearings on CY2023 Budget Proposals

LFC holds hearings on CY2023 Budget Proposals

In compliance with the Memorandum Order (MO) of Governor Carlos M. Padilla to all heads of the different offices of the Provincial Government of Nueva Vizcaya (PGNV), dated August 26, 2022, the Local Finance Committee (LFC) headed by Provincial Planning and Development Coordinator Edgardo D. Sabado commenced its mandated hearing of Office Budget Proposals for the Calendar Year 2023 on September 05, 2022 at the Provincial Treasury Conference Room, Main Executive Bldg., Provincial Capitol.

The other members of the collegial body are Provincial Legal Officer Voltaire B. Garcia, Provincial Administrator Maybelle Dumlao Sevillena, Provincial Accountant Yunisa D. Patricio, Provincial Treasurer Rhoda S. Moreno, and Provincial Budget Officer Virginia N. Iglesias.

The MO enjoins the office heads, who are allowed to be assisted by technical staff, to personally present their respective budget proposals for the ensuing year, along with their office accomplishments for CY2021 and 1st Semester of CY2022, and respond to queries thereon. Each presenter, however, is limited to only an hour of engagement with the LFC, of which 15 minutes thereof shall be devoted to the reporting of accomplishments.

As also ordered, the LFC has only five (5) days, or up to September 09, 2022, to scrutinize the proposed budgets of all offices under both the executive and legislative branches of the PGNV, including those of certain national government agencies.

This is to give ample time for the completion of the final executive budget, which has been set to be submitted to the Sangguniang Panlalawigan on or before October 15, 2022 for its appropriate legislative action.

This will be followed by its endorsement by the Governor to the Department of Budget and Management for the latter’s requisite review and acquiescence which, ideally, should be accomplished before the onset of the budget implementation year.

The proposed consolidated executive budget proposal is anchored on inputs from concerned National Government Agencies, together with assumptions of relevant local and international economic indicators, such as Average Inflation Rate, Average Foreign Exchange Rate, Average Crude Oil Price, Price Monitoring Report of the PGSO, and Philippine Drug Price Reference Index, among others.

Accordingly, the Provincial Treasury estimated the total PGNV Receipts at P2,049,792,302.18, about 86% of which represents the National Tax Allotment (NATA) share of the province.

Based on the foregoing, the LFC has set budgetary ceilings per PGNV office, summarized as follows: by Expense Category, i.e., Personnel Services (P714,291,264.00), Miscellaneous Operating and Other Expenses (P985,746,267.15), and Capital Outlay (P349,754,771.03); and by Sector/Service Category, i.e., General (P748,924,566.48), Social (P581,303,341.73), Economic (P266,874,911.78), and Special Purpose (P452,689,482.19).

The details are all contained in an earlier executive issuance to all PGNV offices, through the LFC, to facilitate the preparation and review of the individual budget proposals of the different PGNV offices.

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