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Sunday, April 21, 2024

Muntinlupa earns Good Financial Housekeeping Seal

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The city of Muntinlupa has earned the prestigious Seal of Good Financial Housekeeping following a rigorous evaluation of financial practices by the Department of the Interior and Local Government (DILG).

Mayor Ruffy Biazon welcomed this recognition from the DILG, saying, “Muntinlupa City’s attainment of the Seal of Good Financial Housekeeping for the year 2023 underscores its commitment to responsible financial stewardship, which in turn fosters public trust and confidence in the local government’s management of public funds.”

Recently, the City Government posted an annual overall collection of P6.4 billion for 2023, up from its 2022 collection of P6.2 billion and equivalent to a collection efficiency of 100.98%, according to the report presented by City Treasurer Erwin P. Vibora.

The Seal of Good Financial Housekeeping is awarded by the DILG to local government units in recognition of excellent financial management and accountable governance.

The criteria for evaluation consists of transparency, accountability, and compliance with financial regulations, including timely submission of financial reports, adherence to budget guidelines, effective revenue generation strategies, prudent fiscal management practices, and sound internal control mechanisms.

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Biazon believes that the seal reflects positively on the current governance and enhances its reputation as a well-managed and financially stable locality, thus encouraging local and outside investment and contributing to the city’s overall development and prosperity.

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