Thursday, November 06, 2014

Miraflores Submits P1.527 Billion 2015 Annual Budget For SP Review

Miraflores Submits P1.527 
Billion 2015 Annual Budget For SP Review

The Aklan Sangguniang Panlalawigan has set marathon schedules of budget briefings and hearings starting November 3, 2014 on the proposed 2015 annual budget of the Province of Aklan. It carries a total appropriation of P1,527,370,719.00 submitted by Gov. Florencio T. Miraflores.

The 2015 proposed budget is higher than P300 million over that of this year’s annual budget of P1.2 billion. 

The 2015 budget is projected to be funded by income/revenue projections of P149.2 million from regular local income sources, some P618.805 million income projections from the operation of the province’s economic enterprises, mainly from the operation of jetty ports and terminals and the projected share of the Province from the national government’s Internal Revenue Allotment (IRA) of P759.365 million.

As to next year’s expenditure programs, out of the budgetary allocations, some P45.428 million is reserved as calamity fund; P53.339 million for debt servicing; P121.485 million for social services; P262.678 for economic programs and services; and P425.634 for general public services.

“Transparent and Accountable Allocation of Government Resources by Delivering Basic Services that are Responsive to People’s Needs,” is next year’s budget theme according to Gov. Miraflores.
Local non-tax revenue is projected to be at P618.805 million and some P544.230 million tax revenue from the operation of the economic enterprises.

Under the general/regular fund operations, the total tax revenue for 2015 is projected at P235.7 million, P18.5 million from non-tax revenue, and P759.365 million from external sources, and P105 million from the Special Education Fund. 

Since three years ago, Aklan has joined the elite Billionaires Club of Provinces throughout the country in terms of revenue generation and budgetary appropriations.  It also ranks first in local income generation among the provinces in the entire country last year, thus, greatly reduced its dependence on its share of the Internal Revenue Allotment.  Aklan is also one province at the top 10 of the heirarchy which spends more amounts for the education of its young people through the Special Education Fund. /MP 

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