Department of Budget and Management (DBM) 3 Director Elisa Salon yesterday reminded the government offices to fast track their 2017 budget implementation so as to avoid any further complications.
“It is either use it, or lose it. This is according to the conditional veto of the President that if the appropriations for this year are not utilized, these will be automatically reverted to the national treasury,” she said.
The reminder was made during the Regional Development Council-3 Sectoral Committee on Social Development Meeting Budget Review Proposal held at National Economic Development Authority (NEDA) 3 here.
The DBM director said that the government offices are given until December 31, 2017 to utilize and liquidate their allotted budget or else, their excess funds will be returned to the national treasury.
However, the budget director said that the unexpended portion for the continuing appropriations of 2016, including the Maintenance and Other Operational Expenses (MOOE) and the Capital Outlay must also be utilized this year, hence, the extension up to December 31, 2017.
“So your 2016 budget is extended up to December 31, but your current budget, matatapos sa December 31, 2017. So please fast track the implementation of your programs and projects, else they will be reverted to the national treasury,” she added.