The Department of Budget and Management (DBM) and the Association of Local Budget Officers-Central Visayas Inc. (ALBOCV) have joined forces to enhance the financial management skills of local government officials in Central Visayas.
The Public Financial Management (PFM) Competency Program, held from February 19 to 21, 2024, at the Bai Hotel in Mandaue City, attracted over 600 local budget officers from across the region, including Bohol, Cebu, Negros Oriental, Siquijor, and several cities and municipalities within Central Visayas.
The program aimed to deepen participants’ understanding and improve their capabilities across all stages of the public financial management process, encompassing budget preparation, procurement, implementation, and accountability.
DBM Secretary Amenah F. Pangandaman, in her keynote address, highlighted the significance of the PFM Competency Program (PFMCP) in assisting local government units (LGUs) to prioritize their finances effectively and manage their budgets within their means.
Secretary Pangandaman stressed the importance of PFM practitioners in creating inclusive and people-centered budgets, aligning with the vision of Bagong Pilipinas to establish a government responsive to its citizens’ needs, ensuring accountability, and promising prosperity for all.
She emphasized that inclusive growth and prosperity depend on the active role of local governments.
The PFMCP covered various topics, including maintaining PFM understanding, principles of internal controls and audit, relationship management, budget preparation and authorization, budget execution, accountability, and procurement.
This initiative aligns with the DBM’s goal to enhance government spending efficiency, urging LGUs to adopt sound fiscal management practices.
This, in turn, is expected to foster the timely and effective implementation of local programs and projects, aimed at reducing poverty, creating quality jobs, increasing infrastructure and human capital investments, and building a resilient and prosperous economy.
Local chief executives of Cebu, led by the President of the League of Mayors and City of Cebu Mayor Michael Rama, along with ALBOCV President Samuel Penales, warmly welcomed Secretary Pangandaman, showcasing the region’s commitment to improving governance and fiscal responsibility.
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