Local govts receive P71.74-B IRAs in Q1, says DBM

A total of P71.74 billion in internal revenue allotments (IRAs) were released to local government units (LGUs) in the first quarter of this year, the Department of Budget and Management announced Wednesday. The January-March allotments were 25 percent of the total IRA appropriation of P286.94 billion for 2011, the department said in a statement. Budget Secretary Florencio Abad urged LGUs to exercise prudence and transparency in the use of their IRA shares. Abad also asked civil society organizations to monitor where the government funds are going. “They have the right to be informed about how local governments spend their budgets." For March alone, the government has already released 80 percent of the P23.9 billion in IRAs to LGUs, according to Abad. The rest will be released on March 24. The released amount includes the P158.5 million that represents the 5-percent contribution to the Metro Manila Development Authority, as mandated by the Republic Act 7924. According to Sec. 284 of the Local Government Code, IRA is a local government’s share of revenues from the national government. — JE, GMA News