• GILBERT P. BAYORAN
Starting January next year Bago, Cadiz and San Carlos will be elevated to first-class component cities while E.B. Magalona will become a first-class municipality.
The reclassification of these four local government units (LGUs) in Negros Occidental was based on the guidelines set by the Department of Finance-Bureau of Local Government Finance (DOF-BLGF).
Sipalay, Escalante, Silay and Talisay will step up as third-class cities while Sagay and Himamaylan will become second-class cities.
La Carlota and Victorias will remain as fourth-class cities.
The DOF-BLGF, through its Order No. 074-2024 published Dec. 5, updated the income classification of all LGUs across the country according to their current financial capabilities.
For a city to be classified as first-class, its average annual revenue must range from P1.3 billion or more derived from local revenue sources, including real property, business taxes, and other local taxes.
For a municipality to be classified as first-class, its average annual income must also range from P200 million or more for three fiscal years (2022 to 2024) preceding a general income reclassification.
Mayor Marvin Malacon said the reclassification of E. B. Magalona from second-class to first-class municipality is a recognition of the town’s sound fiscal policy and financial management through the years, resulting in effective revenue generation and sustainable growth initiatives.”
E. B. Magalona had an 18 percent increase in its National Tax Allotment this year, and the municipality will have a projected budget of P300 million for next year, including from its local sources of revenues.
Malacon added that the increase in annual budget would translate to more basic services for Saraviahanon constituents, more programs and projects, and increase in salaries of employees and the number of plantilla positions in the municipal government. | GB
