Parañaque City, one of the 10 wealthiest local government units (LGUs) in the country, spent 20 percent of its development fund for 2022 in accordance with guidelines except for Davao City, according to the Commission on Audit (COA).
A review of compliance audit reports for each LGU showed auditors commended Parañaque for their proper utilization of the development fund, a list that includes Quezon City, Makati City, City of Manila, Pasig City, Taguig City, Mandaue City, Cebu City, and Mandaluyong City.
Section 287 of RA No 7160 or the Local Government Code requires all LGUs to set aside at least 20 percent of their Internal Revenue Allotment (IRA) shares for development programs, projects, and activities that promote effective governance and the general welfare of the people.
COA commended Parañaque, the seventh richest city in Metro Manila, after seeing how the LGU properly utilized its allotted budget last year, particularly for school and hospital buildings and assistance to hospitals and health centers.
Parañaque City Mayor Eric Olivarez vowed the city government would align its 2023 and succeeding budgets to comply with existing rules and laws, particularly rules governing development funds.
Under the leadership of Olivarez, the city aims to be the prime habitat of the southern Metro Manila, a place with quality education and a healthy environment sustained by economic competitiveness and sound governance.