In a move aimed at strengthening transparency, accountability, and fiscal responsibility, the Sangguniang Panlungsod of Bacolod has unanimously approved a resolution directing a comprehensive review of approximately ₱5.87 billion in total loans obtained by the Bacolod City government from the Development Bank of the Philippines (DBP) under two previous administrations.
Authored by Councilor Caesar Z. Distrito, the resolution designates the Committees on Appropriations and Finance, Laws, and Government Assets to coordinate directly with the Local Finance Committee, the DBP, and all concerned city offices.
The joint body will determine the complete status of every loan entered into by the local government during the administrations of former mayors Evelio R. Leonardia and Alfredo Abelardo Benitez, a press release from Distrito said Wednesday, July 29.
The audit covers a ₱4.171-billion term loan that financed major infrastructure and development projects, including property acquisitions, the rehabilitation of the Old City Hall, road and drainage system improvements, solar power generating installations, asphalt overlay projects, the Legislative Building, the City Health Complex, traffic signalization, the City Engineering Motorpool Area, the Bacolod Warehouse, and an animal shelter, he said.
It also encompasses roughly ₱1.7 billion in outstanding DBP loans funding projects such as the Bacolod City College, Progreso Village, the MassKara Coliseum, and road developments along Lacson Street, the Mansilingan-Felisa Road, and the Gonzaga Street Extension, he added.
Under the resolution, the committees are tasked to verify total approved and released amounts, release schedules, funded projects, payments made, outstanding principal balances, accrued interest, maturity dates, remaining municipal obligations, and the physical completion status of every project.
To ensure a complete assessment, the committees are authorized to require the submission of loan agreements, statements of account, disbursement records, project accomplishment reports, certifications, and other pertinent financial and technical documents, Distrito said.
Distrito said the measure is not intended to question the authority of previous administrations to secure loans, but rather to enable the Sangguniang Panlungsod to fully understand the city’s present financial liabilities and ensure that public borrowings were utilized for their intended purposes.
“As representatives of the people, we have the responsibility to know the current status of every loan contracted by the City Government,” Distrito said. “This review is about transparency, accountability, and ensuring that future financial decisions are based on complete and accurate information.”
Following the investigation, the committees will submit a comprehensive report detailing their findings and recommendations to the Sangguniang Panlungsod, which will serve as a foundational baseline for future legislative and policy actions regarding the city’s financial management and capital investment programs, he added.*
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