The League of Municipalities in the Philippines (LMP) has been assured of an estimated P5.5 billion as a slice in the P17.5 billion internal revenue allotment (IRA) share of local government units for calendar years 2000 and 2001 as approved by President Gloria Macapagal-Arroyo. Sarrat Mayor and LMP-Ilocos Norte Chapter President Corazon R. Abad made this announcement on February 9 during the LMP regular meeting at the Provincial Capitol Session Hall. To avail of the IRA monetization, which is expected by February 24, all mayors concerned should accomplish six sets of enrolment documents, including an approved resolution from the local sanggunian, clearance from the Department of Interior and Local Government (DILG), payment of annual dues, subscription agreement, terms of trust agreements and at least two signature specimen cards from the Land Bank of the Philippines (LBP). According to Abad, all municipal mayors are given two options—to avail of the two-year monetization of their IRA or to wait for another seven years, which will be divided equally for the IRA release as per agreed payment schedule yearly. As a result of the recent LMP national meeting in Metro Manila, only the LMP can avail of the IRA monetization. However a deduction of 39 percent will be charged from the municipal government’s share as payment of their annual dues to the league. For mayors who are on their final three-year terms, the monetization option would be more beneficial as they could use their town’s IRA share before their terms end. All Ilocos Norte municipal mayors agreed to avail of the IRA monetization this month saying the money is badly needed for the distribution of services to their respective constituents more so since there has been no assurance that if they opted for the other option that the IRA share would be released in seven years. Leilanie G. Adriano
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