Cebu Provincial Development Council (PDC) approved today the budget for the 2015 annual investment plan (AIP) of the Cebu Provincial Government.
The P462.6 million-budget will be funded by the 20 percent development fund from Capitol’s internal revenue allotment (IRA) for 2015.
“This year’s AIP budget has slightly increased from that of last year’s because our IRA has also increased,” said Governor Hilario Davide III.
The IRA now amounts to P2.313 billion, he added. Last year’s IRA amounted to P2.033 billion.
Payment of loan for heavy equipment has the largest share in the budget amounting to P110 million.
Davide said the Province intends to loan heavy equipment. But he clarified that nothing is set yet as he will still discuss the AIP to the Provincial Board (PB).
Construction, rehabilitation and repair of provincial, city, municipal, and barangay roads, bridges and other structures follow with P86 million allocated budget.
This then is followed by the P75 million-subsidy to Provincial Governor. This has slightly increased as well compared to last year’s subsidy allocation of P65 million.
“Daghang mangayo sa governor in terms of projects, so ato na ibutang diha (Many are asking financial support for projects from the governor so we will get the funds for that here),” said Davide.
A P50 million-budget is also allocated to construction of farm-to-market roads under the Philippine Rural Development Program of the Department of Agriculture.
“This is the Province’s 10 percent counterpart to the project as DA’s implementing partner,” explained Chris Lucero, provincial planning and development officer.
Subsidy for PB members then follows with P34.5 million and P29.3 million-budget for the procurement of hospital, medical, dental, and laboratory equipment.
Aside from AIP budget, PDC also approved today the 2015 budget of Provincial Disaster Risk Reduction and Management Office (PDRRMO).
The P121.4 million-budget will be sourced out from five percent of the IRA.
“Seventy percent of the fund or almost P85 million will go to disaster prevention, mitigation, preparedness, rehabilitation, and recovery efforts,” said PDRRMO head Baltazar Tribunalo.
The remaining 30 percent or about P36 million will serve as quick response fund, he added.
Capitol’s proposed budget for 2015 is roughly about P3 billion.
The 2015 AIP and PDRRMO fund now await PB’s approval.