Transparency and accountability
Published by the Visayan Daily Star Publications, Inc.
|NINFA R. LEONARDIA|
Editor-in-Chief & President
NIDA A. BUENAFE
MAJA P. DELY
ANTONIO L. LEONARDIA|
The recent typhoon and flood that hit Negros Oriental did not deter other local government units from attending the workshop for increasing transparency in local governance through informed citizen’s participation in local public finance.
The expertise of the country’s public finance experts who conducted the workshop on revenue and management for the local government unit executives, opened an opportunity to enhance transparency in public finance down to the municipal level.
The purview of public finance is considered to be threefold: government effects on efficient allocation of resources, distribution of income, and macroeconomic stabilization.
In the light of the increasing levels of Internal Revenue Allotment or IRA, yearly and the large potential of LGUs to generate revenue, the full disclosure policy will promote orderly management of public finances, help minimize the misuse of public funds and increase people’s awareness of the available resources in their localities.
In 2011, the IRA amounted to P287 billion, or about 20 percent of the national budget. Other sources of income for LGUs provide an estimated PhP60 billion annually.
We believe that with the increasing levels of investment needed in the infrastructure and development goals of our government, now is the time for LGUs to adhere to a full disclosure of local budget and finances. This is central to institutionalizing good governance, transparency and accountability.
We hope that those who attended the workshop on local planning, revenue generation, budgeting, procurement and auditing processes, will apply what they learned from the experts on their offices so that greater transparency and accountability will be achieved within our lifetime.*