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13 Bicol towns pass fiscal stability scorecard – DOF

Cbanga360.Net - The Bicol Street Journal

Published         6 Feb , 2015      12:51 am          397 views.

13 Bicol towns pass fiscal stability scorecard – DOF

Thirteen municipalities in Bicol garnered satisfactory ratings in financial accomplishments according to the Department of Finance tally for local government units of the country.

These municipalities pulled a surprise by capturing either the “Good” or “Very Good” rating in the DOF’s LGU scorecard on preliminary assessment that evaluated overall revenue generation and handling taxpayers’ money performance from Fiscal Years (FY) 2010 to 2012.

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Rolled out by the Bureau of Local Government Finance (BLGF), the pilot online assessment of LGUs’ fiscal sustainability aimed at promoting transparency and good governance.

Called the “Iskor ng ‘yong Bayan”, the review covered 1,493 municipalities nationwide which were rated either as excellent, very good, good, average, needs improvement or poor.

Rated “Very Good” are the municipalities of Malilipot, Sto. Domingo and Daraga — in the province of Albay; San Lorenzo Ruiz, Camarines Norte; and Cataingan, Masbate, which, the BLGF said have satisfactory revenue and expenditure indicators and high compliance with reportorial requirements.

Both Malilipot and Sto Domigo are fourth class municipalities while Daraga is a first class town. San Lorenzo Ruiz is a fifth class upland town, and Cataingan, a coastal town of Masbate, is second class.

“Very Good” because their overall revenue generation capacity from 2010 to 2012 indicated a regular income level needing improvement, good local revenue level, good dependence on locally sourced income, and fair dependence on Internal Revenue Allotment (IRA) in relation to their income classifications.

Bicol municipalities rated “Good” are the capital towns of Virac and Daet in the provinces of Catanduanes and Camarines Norte, respectively; Rapu-Rapu, Albay; Bula, Camarines Sur; and Bulan, Casiguran and Matnog, of Sorsogon province.

“Good” ratings means these towns’ overall revenue generation capacity from FY2010 to FY2012 continuously improved in terms of increasing local revenue level and collection growth, increasing dependence on locally sourced income and reducing IRA dependence. (PNA report)

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