From Left: BLGF XI RD Melvin Joy L. Yu, RDC XI Vice Chairperson and NEDA XI RD Priscilla R. Sonido, DAC XI Co-Chairperson and Presiding Officer, PSR Augusto S. Blanco, Jr., and OCD XI RD Ednar G. Dayanghirang exchange views on improving public financial management, investment programming and budgeting at the local and regional levels during the Third Quarter 2024 DAC XI Meeting

Davao City – Department of Finance – Bureau of Local Government Finance (BLGF) XI Regional Director Melvin Joy L. Yu’s presented the Implementing Rules and Regulations of Republic Act No. 11964, or the Automatic Income Classification of LGUs Act, and the status of updating of the LGUs’ respective Local Revenue Codes in Davao Region during the Third Quarter Meeting of the RDC XI Development Administration Committee, or DAC XI, on 03 September 2024. He emphasized the LGUs’ roles in improving public financial management through proper fiscal planning and management and the reduction of the LGUs’ dependence on National Tax Allotments.

Relatedly, the Committee passed a Resolution recommending to the RDC XI to enjoin all LGUs of Davao Region to update Local Revenue Codes, based on DILG-DOF Joint Memorandum Circular 2019-1, revise their Schedule of Market Values, and conduct General Revision of Properties, pursuant to pertinent provisions of Republic Act No. 7160, or the Local Government Code, on Improving Local Source Revenues.

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