Local governments targeting P305.7B in revenues for 2022

The Department of Finance (DOF), through the Bureau of Local Government Finance (BLGF), tasked local treasurers to collect a total of P305.7 billion in revenues for 2022, which is 22 percent more than the actual intake of P249.8 billion in 2021.

Collected by all provincial, city, and municipal governments across the nation, locally sourced revenues (LSR) come from real property tax, local business tax, fees and charges and receipts from economic enterprises.

The setting of annual local revenue collection target is part of the performance evaluation of local treasurers who are under the administrative and technical supervision of the DOF, through the BLGF.

Data from BLGF Executive Director Niño Raymond Alvina shows that this year’s preliminary target for LSR is 37-percent higher than the goal for 2021.

“In fiscal year 2021, the actual local revenue collections of all provinces, cities and municipalities surpassed the full-year collection target of P223.9 billion, reaching 112-percent efficiency,” Alvina said.

BLGF’s initiatives

In a 2021 report, Alvina touted the bureau’s response mechanisms to emerging risks and their implications on local fiscal policy development and in monitoring the local government units’ (LGUs) fiscal performance and treasury and assessment operations.

He also noted efforts to sustain the BLGF’s initiatives for the professionalization of local treasurers and assessors and the enhanced collaboration with stakeholders.

Alvina said the BLGF had become more responsive, forward-looking and proactive, together with LGUs, key stakeholders and other oversight agencies and regulatory bodies.

For 2022, BLGF priorities include local fiscal strengthening initiatives, full implementation of the Standardized Examination and Assessment for Local Treasury Service Program, rollout of updated treasury and assessment manuals, capacity building interventions, expansion of the Local Finance Modernization Program, Real Property Valuation and Assessment Reform advocacy in Congress, the establishment of the BLGF- Bangsamoro Autonomous Region in Muslim Mindanao and support to Marawi rebuilding.

“The central theme of all this work is focused on innovation, improvement and inspiration, that through resilience, adaptability and collaboration, we will uplift the local economy towards recovery,” Alvina said.