BY GILBERT P. BAYORAN
The provincial government of Negros Occidental expects to have a lower budget in 2023 due to reduction of its National Tax Allotment (NTA) by more than P780 million.
There will be adjustments, especially in our financial assistance, disclosed Gov. Eugenio Jose Lacson yesterday.
The reduction of NTA budget allocations for all local government units by 14 percent, as reported by the Department of Budget and Management, is due to a drop in tax collection by revenue agencies due to the COVID 19 pandemic.
Lacson said they are now preparing the proposed 2023 budget, for submission to the Sangguniang Panlalawigan of Negros Occidental by October.
Hopefully, it will be approved before the year ends, he added.
Under the Local Budget Memorandum 85, DBM said the NTA for all LGUs would drop to P820.27 billion in 2023 from P959 billion this year.
To cushion its impact, the provincial government of Negros Occidental is focusing its efforts in raising local revenues.
Lacson said he is constantly reminding the Economic Enterprise Development Department to open the Food Terminal, saying its earnings provide additional income for the provincial government.
The provincial government is also earning income from the rent of Capitol property by the Ayala Mall, as well as its Cyber Center, aside from managing the Mambukal Mountain Resort in Murcia and the Negros Residences in Bacolod City.*
