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THE Cagayan de Oro City Council approved the amount of P11.2 billion as the city's 2024 budget during the executive budget hearing held on Tuesday, November 7, 2023.The 2024 city budget is P3.4 billion more than the P7.8 billion budget set aside for the city in 2023, according to Acting City Budget Officer Roxanne Ravidas.'But inclusive in that P3.4 billion increase is the P2.7 billion local borrowings we proposed to the City Council.
'The budget is approved and Monday’s session is but a formality,' said majority floor leader City Councilor Edgar Cabanlas, who is also the chairman of the council's laws and rules committee.Uses of budgetAccording to Ravidas, around P10.36 billion of the P11.2 billion 2024 city budget will be generated by external and local revenue sources.'The crafting of the 2024 budget is guided by the Rise development and governance agenda of the Klarex administration,' Ravidas said.
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