Cebu City gets seal of ‘good financial housekeeping’
The Cebu city government was awarded the Seal of Good Financial Housekeeping by the Department of Interior and Local Government (DILG) last year. The award qualifies them to avail of funds from the agency for the city’s various projects.
In yesterday’s press conference, Cebu City Mayor Michael Rama said the DILG issued the certification upon the request of his office to enable the city government to source funds from the DILG’s Payapa at Masaganang Pamayanan (Pamana) program.
The program is used to fund programs for reconstruction, and development.
The Seal of Good Financial Housekeeping was an incentive program launched by the late Interior and Local Government Secretary Jesse Robredo.
The program monitors and awards local government units with exemplary performance in local legislation, development planning, resource generation and allocation.
Rama said the DILG pronouncement proves that Cebu City’s financial condition is in “the pink of health.”
He said this proves that “the city has not been what my critics described as in dire financial straits.”
Even without the seal, Rama said banks can “make exceptions” and that he will pursue a World Bank (WB) loan to finance the reconstruction of the Cebu City Medical Center.
One of the requirements for a World Bank loan is the seal issued by the DILG.
The mayor said the Bando Osmeña-Pundok Kauswagan (BO-PK) bloc in the Cebu City Council is blocking approval of the resolution to avail of the World Bank loan in their belief that the city is going bankrupt.
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