The Department of Interior and Local Government has given the Seal of Good Financial Housekeeping (SGFH) to Makati City after the administration of Mayor Abigail Binay passed the agency’s assessment to all local government units to ensure transparency and honesty in spending public funds.
“I would like to congratulate the city for passing the stringent DILG assessment for its Seal of Good Financial Housekeeping for 2018. This means a lot to Makati and to me, personally. It signifies that our public funds are being spent efficiently, honestly, and only for the benefit of our constituents,” said Mayor Abigail Binay on Wednesday.
The SGFH assesses how local government units comply with set accounting and auditing standards, rules and regulations. Passing the assessment means Makati City has spent and audited its public funds accurately and transparently.
“Strict compliance with laws and policies governing the use of public funds is key to ensuring that our constituents receive the optimum benefits intended for them through our programs and services. The SGFH certification granted by the DILG affirms that we have truly done justice to our taxpayers’ money allocated in our annual city budget,” said Binay.
“I am proud to share this latest achievement of the city with all the departments and offices of the city government, which have strictly observed current guidelines and standards in the implementation of their respective programs and activities,” she added.
Part of the criteria includes an Unqualified or Qualified Commission on Audit (COA) Opinion of the immediately preceding year.
It also includes Compliance with the Full Disclosure Policy of Local Budget and Finances, Bids and Public Offerings such as Annual Budget, Statement of Receipts and Expenditures, Annual Procurement Plan or Procurement List, and Bid Results On Civil Works, Goods and Services and Consulting Services, among others.
Obtaining the SGFH certification put Makati one step closer to its bid of getting the Seal of Good Local Governance.
For this distinction, an LGU is assessed and judged in areas such as Disaster Preparedness; Social Protection; Business-Friendliness and Competitiveness; Peace and Order; and Environmental Management.