Quezon City News
Belmonte creates QC Finance Committee
Quezon City Mayor Joy Belmonte ordered the development and organization of a City Finance Committee to better handle the fiscal affairs of the local government.
“As stated in my inaugural address, the fiscal affairs of Quezon City must be guided by the principles of transparency, prudence, and accountability, “Mayor Belmonte said through her Executive Order No. 5.
The finance committee is responsible for determining the revenue from the town as “reasonably projected as collectible for the ensuing fiscal year.”
It will help the City Council in reviewing and evaluating the budgets of QC Barangays and evaluating periodic and additional annual budgets.
The City Finance Committee members include the City Administrator, the Secretary to the Mayor, the City Treasurer, the City Budget Officer, and the City Planning and Development Officer.
The committee will also suggest suitable tax and other income or borrowing measures that may be suitable to help the budget ; advise the mayor of the municipality on the level of annual expenditure and expenditure limits for financial, social and general facilities based on approved local development plans ; and recommend to the city mayor the proper allocation of expenditures for each development activity between operating expenditures and capital outlays.
The establishment of the City Finance Committee is also known as the 1991 Local Government Code pursuant to Section 316 of Republic Act 7160.