Summary of Annual Budget 2010

The Local budget is the LGU's financial plan and instrument for implementing local development plan and its investment program.

It is an authority to spend in compliance with the RA 7160 (Local Government Code)requirement that no money shall be paid out of the local treasury excepy in pursuance of an appropriation ordianance or law (Section 305a)

Source: Celestino, Malvar and Zipagan 1998, Handbook on Local Fiscal Administration in the Philippines.