Cebu City government employees will have something extra in their wallets this Christmas.
The City Council approved a P55.98 million Supplemental Budget 3 (SB3), the bulk of which will go to the P10,000 performance bonus for each of the city’s casual and regular employees.
It took less than an hour for the council to approve the budget in a special session yesterday.
“We know better. I will discuss with my core group and the HR on when the bonus will be given. It can’t be earlier than Dec. 15 since it might get used up quickly if it’s given early,” Cebu City Mayor Michael Rama told reporters.
Based on guidelines of the Department of Budget and Management (DBM), the Productivity Enhancement Incentive (PEI) should be given not earlier than Dec. 15.
About P35.13 million from the general fund will go to bonuses of the employees.
Other allocations include terminal leave benefits for employees under the city administrator’s office (P3 million) and the City Council (P500,000) and honoraria for commissions under the mayor’s office (P3 million).
All of the P14.35 million under special accounts will be used as PEIs for employees under the Cebu City Traffic Operations Management (P5.86 million), Cebu City Resource Management and Development Center (P190,000), Cebu City Medical Center (P5.74 million), Division for the Welfare of the Urban Poor (P750,000), city markets (P1.2 million) and the City Slaughterhouse (P610,000).
Yesterday the council also approved an amendment of the Loan No. 1 Subsidiary Loan Agreement for the Cebu South Reclamation Project under OWCF Loan No. PH-P157 with the Land Bank of the Philippines (LBP).
Under the amendment, the LBP will assume the one percent guaranty fee being paid by the city to the Department of Finance (DOF) for its loan payments for the South Road Properties.
The city allocates P50 million a year for the guaranty which is usually paid by December.
The LBP said the bank is willing to assume the fee on behalf of the Cebu City government.
The resolution allows Mayor Rama to sign the loan amendment with LBP starting this year.
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