Tag: local finance

Changes in Bicol # 5

Unlike before the 1991 Local Government Code (R.A. 7160), local government units (LGUs) nowadays have an automatic budget allocation called the internal revenue allotment popularly known as IRA. According to Section 285 of the LGC, the share of each LGU on the IRA is determined by the following formula: a. Population - Fifty percent (50%); … Continue reading Changes in Bicol # 5