The Negros Occidental and Bacolod City governments will have bigger budgets next year.
The proposed 2024 provincial government budget is P5.5 billion, which is P400 million higher than this year’s P5.1 billion budget, Gov. Eugenio Jose Lacson said Monday, September 18.
The governor attributed this to an increase in tax collection following the COVID-19 pandemic, although it is still not back to the 2019 level.
The Negros Occidental provincial government’s National Tax Allotment (NTA) share for 2024 will be P4,904,713,544, or an increase by P287,622,099.
Locally sourced funds of the province have also increased by about P10 million, from P329 million to P339 million, Lacson said.
The local income comes from taxes and non-tax revenue, he said.
The provincial economic enterprise income also increased by P300,000 from P257.9 million to P258.2 million, he said.
Lacson said he will submit the proposed 2024 provincial government budget to the Sangguniang Panlalawigan for review before the October 16 deadline.
The 2024 budgets of the towns and cities of Negros Occidental will also increase as they are also receiving bigger NTA shares, Lacson said.
Bacolod Mayor Alfredo Abelardo Benitez said he is proposing a P3.6 billion budget for the city government in 2024 from P3.250 billion this year.
The increase will come from the improved revenue collection of Bacolod and its increased NTA share.
Bacolod City’s NTA share will be P1,895,045,662 in 2024, or an increase by P110,702,531.*