Collections of locally sourced revenues (LSRs) slightly dipped in the third-quarter, as provinces, cities, and municipalities continue to rely heavily on their respective internal revenue allotment (IRA) shares to fund operations and programs. In a report to Finance Secretary Carlos G. Dominguez...
The Bureau of Local Government Finance (BLGF) continued to carry out its role of helping improve the fiscal position of the local government units (LGUs) by professionalizing the country’s local treasury service. In a statement Monday, Oct. 25, Niño Raymond Alvina, BLGF executive director, said...
Real property valuations of local government units (LGUs) are not increasing fast enough to keep up with the market values of land in the country, the Asian Development Bank (ADB) said. During the virtual Bureau of Local Government Finance (BLGF) webinar Thursday, Oct. 21, Jose Antonio Tan III, ADB...
Most local executives remained heavily dependent on income they received from the national government to fund their operations, data from the Department of Finance’s (DOF) Bureau of Local Government Finance (BLGF) revealed. Based on the latest operating income reports submitted by local...