Wenceslao to executive department: Explain city’s financial state

CEBU, Philippines - Cebu City Councilor Noel Eleuterio Wenceslao wants the executive department to apprise the council of the city’s financial situation after the Commission on Audit released its audit report that the city has close to P1 billion overdraft.

Wenceslao, vice chair of the Committee on Budget and Finance, said he is worried upon reading a news item that the city has incurred a deficit of about P965.5 million because of  several payables amounting to over P1.9 billion and the city only had more than P1.016 billion as of December last year.

Wenceslao said also wants to know if the “liquidity problem” of the city is caused by financial mismanagement.

Wenceslao is scheduled to deliver a privilege speech in today’s regular session of the council.

Wenceslao also said he could not believe that the amount deducted from the salaries of the employees intended for other government agencies, particularly  the Government Service Insurance System (GSIS), was not remitted on time.

He also wants to know why the City Government has yet to release the cash assistance for senior citizens.

“When are we giving financial assistance to our senior citizens? Is it true that our constituents using CHAMP (City Hospitalization Assistance and Medical Program) were not given medicines when they go to the accredited pharmacies because we have not yet paid our obligations to these drugstores?” Wenceslao said.

He also revealed that close to 10,000 city scholars failed to receive their school supply allowance at P1,000 each for school year 2011-2012 and another P1,000 for the school year 2012-2013.

“The mayor had a pronouncement to dispose of the properties in SRP. Is the real intention is to solve the liquidity problem or the dwindling cash position of the city? This is a serious matter that needs immediate and urgent attention. The council and the public has the right to know,” Wenceslao said. – (FREEMAN)