CH officials, staff to get P10T bonus

CEBU, Philippines - Cebu City government officials and employees will each get P10,000 bonus on Christmas Day.

Mayor Michael Rama made the announcement yesterday after the City Council approved the P55.98 million third supplemental budget this year. Although Rama made the announcement early, the amount will not be released until December 25.

"It should not be possible before December 15. Why giving them early, for what? The best time would definitely be on December 25 to make everyone happy," Rama said.

 The giving of bonus, however, is still subject to the guidelines of the Department of Budget and Management, which sets a 45-percent limit on personal services.

Councilor Sisinio Andales moved for the distribution of cash gift on or before December 15. However, Councilor Noel Eleuterio Wenceslao invoked the memorandum circular of the DBM dated December 3, which states that payment of the Productivity Enhancement Incentive shall be made not earlier than December 15.

 "We know better what ought to be done as to the date of the distribution," Rama said in response.

 Aside from the Christmas bonus of the employees, SB-3 also contained the honoraria of different commissions under the Office of the Mayor (P3 million); terminal leave credits of 11 city employees (P3.5 million), among others.

 The SB-3 was approved to cover "urgent and necessary" expenses under the General Fund Proper amounting to P41.63 million and P14.35 million for special accounts without any objection.

 The amount will be sourced from the savings of personal services and guarantee fee interest for the South Road Properties Loan.

 This after the Land Bank of the Philippines promised to assume the one-percent guarantee fee payable to the Department of Finance that commences this year.

The city government is obligated to pay the national government one percent of its loan balance as guarantor. At present, the city has an outstanding balance of P2.9 billion based on the prevailing foreign exchange rate.

Cebu City was granted P5.6 billion loan by JICA to undertake the 300-hectare South Reclamation Project. So far, it has only paid P2.66 billion. The loan will mature in 2025.— (FREEMAN)