The Davao City Council approved on third and final reading Supplemental Budget No. 3 during the 48th regular session at the Sangguniang Panlungsod on Thursday.
Authored by Councilor Myrna Dalodo-Ortiz, chairperson of the Committee of Finance, Ways and Means, and Appropriations and Committee on Trade, Commerce and Industry, the ordinance was passed Granting Legislative Authority To Supplemental Budget No. 3 Of The City Government Of Davao For Calendar Year 2024.
SB No. 3 comprises the budget under the general fund proper, the development fund and the economic enterprises amounting to P433,928,192.87.
Ortiz said the bulk of SB No. 3 is the development fund amounting to P357,075,711.87, which represents 82.3% of the total supplemental appropriations.
Ortiz added that the second largest allocation is for the general fund proper with a total of P76,852,481.
Ortiz mentioned that SB No. 3 of the city government of Davao for CY 2024 is funded from two sources namely surplus from CY 2023 operations and the reversion of appropriations.
