City Hall incurs P4M overdraft

CEBU, Philippines - The Cebu City government has incurred close to P4 million overdraft in Philippine Amusement and Gaming Corporation funds.

Councilor Margarita “Margot” Osmeña said there is a total of P12,267,320 request for certificate of availability of funds for June and July but the actual available funds is only P8.43 million.

In a committee report, Osmeña said a total of P3.92 million request is yet to be funded. The report says a total of P7,799,511.86 had been issued with certificate of availability of funds by the City Treasurer’s Office as of July, subject to prioritization. (FREEMAN)