- Status of Financial Health
Being a fifth class municipality with a limited area and population, the major sources of generation of local revenues of the Municipality of Belison are Municipal Business, Real Property Tax, Market Collection, and community tax. However, the yearly formulation of the executive budget is always a result of thorough discussion and study among stakeholders composing of department heads, members of municipal development council, non-government organizations and other concern entities so that the allocation of resources and prioritization of programs and projects be more participative, transparent and proactive thus responding to the present socio-economic problems of the town. Its preparation had firmly complied the budgeting parameters/fiscal policies set by Local Budget Memorandum No. 50 of the Department of Budget and Management thus, catering the needs of the Belisongnons notwithstanding of the town’s meager income and resources. Based on the Statement of Financial Performance issued by the Office of the Municipal Accountant, the financial health of the LGU is quite good with a surplus of P16,178,834.77.
- Revenues by Source
To date, Internal Revenue Allotment (IRA) remains to be the biggest source of the LGU’s total income which percentage in relation to the total income of the year ranged from 86% to 90%. which only shows that the municipality is highly dependent on the IRA from the National Government and outside sources of financing. The total income for the year 2018 ranges to P67,711,172.37 This amount comprises the IRA amounting to P53,849741.00 together with the local income from taxes and other operating and miscellaneous revenues amounting to P8,870,431.37. The pie chart and table below present the revenues by source of the municipality for fiscal year 2018.
Figure 6.2.2 Revenues by Source, FY 2018
- Actual Expenditures by General Account
There are four salient account to with expenditures were focused. These are the personal services, maintenance and other operating expenses, non-cash expenses and financial expenses. Personnel services had the largest share of pie, followed by maintenance and other operating expenses by the offices/department which normally runs the affairs of the local government. At the same time, the last two account with the least expenditure are the non-cash and financial expenses. The summary of expenditures program by general account is shown in the table below with a corresponding pie presentation to make it more comprehensible.
Figure 6.2.3 Actual Expenditures by General Account, FY 2018