Wednesday, April 13, 2011

Local governments told to disclose all finances, transactions

ZAMBOANGA CITY, Philippines (Mindanao Examiner / Apr. 13, 2011) – The Department of the Interior and Local Government said all local governments must comply with the so-called “Full Disclosure Policy”.

The Full Disclosure Policy requires local government units to fully disclose budgets, finances and public offering by publishing them in newspapers and posting in other conspicuous places in their localities or official website, or on the DILG website.

Local governments are strictly required to post these documents: Current Annual Budget; Quarterly Statement of Cash Flows; Statement of Receipts and Expenditure; Priority Development Assistance Fund Utilization; Special Education Fund Utilization; 20% Component of the Internal Revenue Allotment Utilization; Gender and Development Fund Utilization;
Statement of Debt Service; Annual Procurement Plan or Procurement List; Items to Bid; Bid Results on Civil Works, Goods and Services; and the Abstract of Bids as Calculated.

The DILG said local governments which do not comply with the disclosure policy may face administrative sanction for gross negligence or dereliction of duty under Section 60 of the Local Government Code of 1991. (Mindanao Examiner, Philippine Information Agency)

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