20 Dec P4.5B Budget for Cagayan De Oro Approved by City Council
The 4.5 billion of the proposed P5.4 billion budget for the year 2017, was already approved by the Cagayan de Oro City Council.
According to a report from Sun.Star, this is the biggest annual budget given under the Cagayan de Oro City Mayor Oscar Moreno administration.
Vice Mayor Rainier Joaquin Uy stated that before they approved the budget, it has gone through a precise consideration. He added that the finance committee decided to cut off some money from the proposed budget as they have noticed that something should not be considered and that they have to respect that.
The P1 billion cut from the proposed budget is supposedly for programs which are deemed to be non-urgent and could be approved later on, said City Councilor Edna Dahino, chair of the committee on finance.
The city government will not levy higher tax rates to businessmen next year, she said, adding that they would only base it on the revenue code and that it will go through the City Council. There will be no loans, no increase on tax rates, a just strict collection of taxes, she declared.
Meanwhile, Mayor Moreno said that this is an ambitious budget but they wanted to do it to move forward and aim higher.
The mayor assured that the City Council will not impose new taxes as there have been concerns regarding the P5 million budget that could trigger the increase of tax rates.