CEBU, Philippines – The Cebu City Council yesterday approved the Fifth Supplemental Budget (SB5) amounting to over P313 million.
The SB5, authored by Councilor Jose Daluz III, chair of the council committee on budget and finance, was submitted two weeks ago following the approval of Supplemental Budget 4 amounting to P255.4 million.
The bulk of the SB5 is for the South Road Properties (SRP) loan amortization amounting to P75 million and another P100 million for the loan interest payment.
“It will complete the SRP loan payment for this year,” Daluz said.
Another P52 million was also appropriated for road asphalting, which forms part of the Operation Asphalt Storm in which P100 million was earlier included in SB4 for the purchase of heavy equipment.
Acquisition of right of ways was also appropriated with P900,000 from the Local Development Fund.
Around P2 million was also appropriated as financial assistance to the Cebu Chamber of Commerce and Industry (CCCI).
Daluz said the executive department also included P1 million for the Judiciary Equalization Fund, an undertaking of the city government and the Supreme Court.
The equalization fund, which will be deposited with the SC, will replenish the allowances of judges taken away by local government units.
The source of fund include the Internal Revenue Allotment difference from January to June 2009 worth P61 million, realignment of the continuing appropriations last year amounting to P14 million, P99 million from 2009 unappropriated balance, and the P71 million Retained Operating Surplus.
Another P66 million was taken from the special accounts as subsidy.
Daluz assured that the city has fund sources for the new supplemental budget.
The 2009 budget of the city government is P2.632 billion.
Also approved yesterday was a resolution appropriating P3.5 million for the purchase of medicines by the City Health Department (CHD).
These medicines, according to council committee on health chair Christopher Alix, will be used by different barangay health centers in the city.
Close to P8 million would be appropriated in the upcoming Supplemental Budget 6 to purchase medical equipment for barangay health centers as part of the move to decongest the Cebu City Medical Center. — Ferliza C. Contratista/LPM (THE FREEMAN)