Goking backs new financial mgmt plan
COUNCILOR George S. Goking, chair of the City Council committee on ways & means, said he is in favor of the new strategic financial management plan presented last week by the United States Agency For International Development (USAID).
One of the discussions during the webinar was the LGU Financial Performance, highlighting income patterns, expense patterns, local economic enterprises, analysis of special funds and accounts and analysis of loans and other indebtedness.
Councilor Goking said that the income and expense projection thru the multi-year budget is needed.
“We need to know the income projections as well as the possible expense projections to make it balance,” he added.
During the meeting, the SWOT Analysis of the LGU financial Management, the LGU external environment analysis, opportunities and threats, considering the pandemic and the new normal were also discussed.
The LGU internal environment analysis; strengths and weaknesses and more information were given during the meeting like revisiting the functional goals and objectives, updating the implementation mechanism plan, Goking added.
“At this time of pandemic when businesses suffer big losses because of the pandemic, we need to be careful in budgeting the income and expenses, there should be a balance to sustain the economy,” he cited.