MANILA, Philippines - The Department of Finance has piloted a scorecard system for local government units (LGUs) in line with efforts to promote transparency and accountability among LGUs in the country.
The LGU Fiscal Sustainability Scorecard, a brainchild of the DOF’s Fiscal Intelligence Unit (FIU) and the Bureau of Local Government Finance, aims to institutionalize the regular publication of fiscal indicators and the performance review of municipal, city and provincial governments.
Financial information concerning LGUs will be based on official quarterly and yearend reports submitted by all local treasurers (through the electronic Statement of Receipts and Expenditures [SRE]) and assessors (through the Quarterly Report on Real Property Assessment) to the BLGF.
The scorecard takes into account key results areas of local revenue generation capacity, local collection growth, expenditure management, updating of schedule of market values, and reportorial compliance of treasurers and assessors with the DOF and BLGF.
It will be accessible to the public through an online portal called Iskor ng ‘yong Bayan.
The project is part of the DOF’s Transparency Initiative, which aims to use the power of data to drive performance.
Finance Secretary Cesar Purisima earlier said the DOF was open to giving due recognition to outstanding local treasurers and assessors.
A scoring system for LGU treasurers will also be institutionalized in terms of meeting operational goals and improving professional competence.
In addition, the DOF is considering conducting an examination for all local treasurers, as “fitness†test on their knowledge on basics in public finance, treasury operations, disbursement and fund management, ethics, and other matter.