The Sangguniang Panlungsod of Bacolod City approved on second and third reading yesterday the General Budget for fiscal year 2024 amounting to P3.6 billion, anĀ amount increase of P350 million, or 11 percent, from the 2023 annual budget.
Bacolod Councilor Jude Thaddeus Sayson, Chair of the SP Committee on Appropriation and Finance, yesterday said that the annual budget for 2023 was P3.25 billion.
The largest portion of the 2024 Annual Budget is reserved for the general public service sector, amounting to P1,325,986,149, making up 36.83 percent of the annual budget.
About 34.61 percent of the budget amounting to P1,245,860,629 is reserved for social services; P317,956,557 or 8.83 percent for economic services; and P710,196,665 or 19.73 percent for other services.
The fund sources of the 2024 Annual Budget of Bacolod City come from local sources amounting to P1,629,870,000, and the national tax allocation amounting to P1,970,130,000.
(Chrysee Semillano via The Visayan Daily Star (TVDS), photo courtesy by TVDS)