Council defers projects under Pagcor funds-A A +A
Thursday, August 21, 2014
THE Cebu City Council will hold the approval of all resolutions on the charges made against the Philippine Amusement and Gaming Corp. (Pagcor) funds.
The City has pending Pagcor charges worth P3.9 million that have yet to be issued with certificate of availability of funds (CAF) by the City Treasurer’s Office (CTO).
Based on the financial status of Pagcor funds submitted by City Treasurer Diwa Cuevas to the council, as of last month, requests for funding under the account has reached P12.3 million.
However, from May to June 2014, the City has only P8.4 million in available funds.
The records showed that the CTO had issued CAF’s to some P50.9 million worth of projects under Pagcor from January to July 1, 2014.
All of the projects were already prioritized by the executive department and funds were set aside for implementation.
After the council approved the motion of Councilor Margarita Osmeña, who chairs the committee on budget and finance during their regular session yesterday, succeeding charges under Pagcor funds were deferred.
As of yesterday, three resolutions were put on hold, pending the evaluation of the available funds under the Pagcor account.
Osmeña, though, clarified that the delay is only temporary and the approval of several resolutions will continue after her committee reports on the matter.
To recall, the council asked CTO to furnish the body a report on the availability of cash to support several requests for Pagcor charges.
Every month, the City receives P4 million from Pagcor for allowing them to operate casinos in the city.
By law, funds under the account will be used to finance projects and programs in health care, self-sustainable livelihood projects, scholarships and infrastructure projects, among others.
Published in the Sun.Star Cebu newspaper on August 21, 2014.