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Author Topic: “Full disclosure policy” needed for LGU loans  (Read 712 times)

Lorenzo

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“Full disclosure policy” needed for LGU loans
« on: February 21, 2012, 10:08:58 AM »
TAGBILARAN CITY, Bohol Sept 17 (PIA) — Local Government Units which have hidden their financial statements to the public may soon run out of other sources of priority development funds.

This as the Department of Interior and Local Government (DILG) hints the imposition of transparency in local governance and fiscal management through the imposition of the full disclosure policy.

The DILG, which has been awarding to towns and cities the seals of good housekeeping has reportedly made the full disclosure policy as a pre-requisite for loans, government financial assistance and grants from government financial institutions and international donors.
In fact, there have been reports that there are plans to devolve the management and monitoring of the government’s conditional cash transfers (CCT) to local government units who have satisfactorily shown they can be trusted.

The trust can come first from the local government’s compliance of the full disclosure policy, which will tell whether the funds at the LGU’s disposal were indeed spent according to plans.

At the recent Kapihan sa PIA, DILG Provincial Director Louella Lucino bared this as the DILG has earlier issued statements that towns or cities without the Seal of Good Housekeeping are barred from getting loans from government financial institutions.



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Lorenzo

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Re: “Full disclosure policy” needed for LGU loans
« Reply #1 on: February 21, 2012, 10:09:10 AM »


BANKING ON TRUST. DILG Bohol Provincial Director Louella Lucino reiterates the Sec. Jesse Robredo’s statement that it may not be long when only LGUS with the Seal of Good Housekeeping are eligible for government financial assistance and that loans and grants can only be allowed for towns or cities who can transparently disclose their fiscal management system (RAC/PIABOhol)

The seal of good housekeeping, which comes with a P1-million cash incentive has been awarded to at least three of Bohol’s towns and eight more are set to get it upon their compliance of claim requirements, she said.

The housekeeping seal is given to LGUS who have satisfactorily complied with the DILG directive to disclose how they spent their budgets.
In separate reports, DILG secretary Jesse Robredo has been quoted as saying that before the end of the year, provinces, towns or cities without the DILG Seal of Good Housekeeping and a passing report card from state auditors would not get loans from the Land Bank of the Philippines, Development Bank of the Philippines or the Philippine National Bank.

This too as the DILG reiterates, local governments must also comply with government audit reports.
Robredo also reportedly revealed the plans [of government] to devolve the management and monitoring of the CCT to local governments that can be trusted or that the avail-ment of the CCT may also be soon requiring a housekeeping seal.
On the full disclosure policy, DILG Lucino said towns are mandated to put up their financial statements in conspicuous areas in their town centers, in a newspaper of wide circulation or on a local government website.

The Local Government Code and the Procurement Reform Act of 2003 has also directed local governments to post their annual transactions in public places.

Owing to the costs of posting its own websites, the local DILG has offered their DILG website as the venue where they can temporarily publish their financial reports. (30)

http://infoofficers.journ.ph/2011/09/30/%E2%80%9Cfull-disclosure-policy%E2%80%9D-needed-for-lgu-loans-2/

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Lorenzo

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Re: “Full disclosure policy” needed for LGU loans
« Reply #2 on: February 21, 2012, 10:11:47 AM »


The trust can come first from the local government’s compliance of the full disclosure policy, which will tell whether the funds at the LGU’s disposal were indeed spent according to plans.

At the recent Kapihan sa PIA, DILG Provincial Director Louella Lucino bared this as the DILG has earlier issued statements that towns or cities without the Seal of Good Housekeeping are barred from getting loans from government financial institutions.



Mao gayod ! I agree with this statement , Mommy Wella. More transparency and more fiscal responsibility should be exercised by the local government units. Good Job Mommy! :)

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Lorenzo

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Re: “Full disclosure policy” needed for LGU loans
« Reply #3 on: February 21, 2012, 10:13:52 AM »


BANKING ON TRUST. DILG Bohol Provincial Director Louella Lucino reiterates the Sec. Jesse Robredo’s statement that it may not be long when only LGUS with the Seal of Good Housekeeping are eligible for government financial assistance and that loans and grants can only be allowed for towns or cities who can transparently disclose their fiscal management system (RAC/PIABOhol)

The seal of good housekeeping, which comes with a P1-million cash incentive has been awarded to at least three of Bohol’s towns and eight more are set to get it upon their compliance of claim requirements, she said.

The housekeeping seal is given to LGUS who have satisfactorily complied with the DILG directive to disclose how they spent their budgets.

http://infoofficers.journ.ph/2011/09/30/%E2%80%9Cfull-disclosure-policy%E2%80%9D-needed-for-lgu-loans-2/

Excellent ! Yes, local government units should be held liable for their financial transactions and their manner of use should be taken into consideration and should dictate whether or not they should get loans again.

Mao gayod!

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