Osmeña: We can make this budget work

Councilor Margot Osmeña said the City Council heavily reduced the  executive budget because they were uncertain the administration could raise enough money to support it.

Mayor Michael Rama submitted his P11.8-billion draft budget on Oct. 14.

The council held 10 budget hearings and six settings for city council deliberations to scrutinize it.

A  P2-billion amount proposed as revenue by the mayor was found “not feasible” by the legislators.

The Local Finance Committee, which includes the treasurer and key department heads, could not explain how they would raise P4 billion  in revenues projected from the city’s economic enterprises.

Cebu City expects to earn P300 million next year from its joint venture with Filinvest and another P1 million as share in a joint venture with the Philippine Water Resources Inc., but the the LFC failed to show in detail how the city would  earn from its economic enterprises.

Vice Mayor Joy Augustus Young said in an earlier interview that the council only considered as a valid revenue source that almost P2 billion, which the city would raise from tax collections and its close to P900 million Internal Revenue Allotement (IRA) share from national taxes.

Osmeña said she was confident Cebuanos would understand the decision to slash the mayor’s proposal.

“To the people of Cebu City, we are grateful for your patience and hopefully your understanding,” she said.

“To the executive department, here’s our budget.  We can make this work.” /Chief of the reporter Doris C. Bongcac