DEPARTMENT OF FINANCE LISTS LIMAY AS THE COUNTRY’S SECOND TOP MUNICIPALITY GENERATING LOCALLY SOURCED REVENUES The Municipality of Limay, Bataan placed second in a survey conducted from FY 2010 to 2012 among 286 first class municipalities in the Philippines. The Bureau of Local Government Finance of the Department of Finance (DOF) has recently posted a full-page ad in major newspapers listing the top 10 first class municipalities generating locally sourced revenues. The ad highlighted how local government units (LGUs) manage the taxpayers’ money by showing how dependent the LGUs are on the Internal Revenue Allotment (IRA). The data showed that Limay has a 79.89% dependence on local income, or only 20.11% dependence on national government revenue. In 2010, dependence on local revenues was at 58%. It rose to 73.6% in 2011, and hit 79.9% in 2012. Limay’s dependence on local income includes real property taxes, business and other taxes, regulatory fees, service/user charges, and income from economic enterprises aside from the total regular income of the municipality. For the evaluated period, Limay’s Assessor, License and Permits, and Treasury departments under the leadership of Mayor Lilvir “Ver” B. Roque, have realized these figures through increased campaigns in revenue generation, and local collection efforts. The Department of Finance measures and monitors the transparency and governance of LGUs, and “to supervise and monitor the revenue operations of the LGUs, and [their] thrust to promote good governance at all levels, [have] assessed the fiscal performance of all LGUs through the LGU Fiscal Sustainability Scorecard.” This scorecard measured Limay’s performance in Four Key Result Areas, namely: Revenue Generation Capacity, Local Collection Growth, Expenditure Management, and Timeliness in Report Submission. Revenue generation capacity measured levels of the municipality’s income, growth, and how much it’s economy depended on locally sourced and IRA incomes. Local collection growth measured Limay’s growth in tax and non-tax revenues, which all posted aboveboard figures for the period. Expenditure management measured Limay’s use of funds, where, on the average, over 20% of the IRA was used for local development projects such as infrastructure. Noteworthy is the fact that Limay has no debt service arrangements due to its financial stewardship. Furthermore, “based on the reports submitted by local treasurers and assessors to the DOF and the BLGF from 2009 to 2012,” Limay earned an average of 89 points from 2010-2012, with a consistent “A” or Excellent rating. It is from this website that the data listing Limay’s accomplishments have been documented (for more information, see: iskor.blgf.gov.ph)
Posted on: Fri, 12 Dec 2014 07:16:24 +0000
Trending Topics
Recently Viewed Topics
© 2015