City given 2023 Good Financial Housekeeping Award

Here’s another feather in the Summer Capital’s cap of achievements.     

On behalf of the city government, Mayor Benjamin Magalong and Vice Mayor Faustino Olowan led other officials in receiving a plaque of recognition from the Department of the Interior and Local Government-Cordillera Administrative Region (DILG-CAR) for passing the 2023 Good Financial Housekeeping (GFH) with a rating of 100 percent.      

The award was handed-over by DILG CAR Dir. Araceli San Jose and Baguio Office head Millicent Carino during flag-rites at City Hall, February 19.    

The DILG, through the GFH program, recognizes local government units (LGUs) that prioritize accountability and transparency in their financial management practices and systems that result in excellence in financial administration, Carino said.       

She added that the program looks into the LGU’s adherence to Commission on Audit (COA) rules and regulations on accounting and auditing standards including the timely and full compliance to the full disclosure policy (FDP).  

The FDP, as mandated by DILG Memorandum Circular No. 2010-083, requires LGUs to fully disclose particular financial documents to their constituents, such as the budget and how it is disbursed and used, to minimize corruption and misuse of public funds. – Gaby B. Keith