Sources of Funds and The Operating Budget
- The annual expenditures including capital outlays of the MMDA is provided for in the General Appropriations Act otherwise known as the National Budget;
- The MMDA receives an internal revenue allotment (IRA) from the President;
- The MMDA is likewise empowered to levy fines, and impose fees and charges for various services rendered;
- Five percent (5%) of the total annual gross revenue of the preceding year, net of the internal revenue allotment, or each local government unit, accrue and become payable monthly to the MMDA by each city or municipality. In case of failure to remit the said fixed contribution, the DBM can cause the disbursement of the same to the MMDA chargeable against the IRA allotment of the city or municipality concerned.
Read more about this topic: Metropolitan Manila Development Authority
Famous quotes containing the words sources of, sources, operating and/or budget:
“On board ship there are many sources of joy of which the land knows nothing. You may flirt and dance at sixty; and if you are awkward in the turn of a valse, you may put it down to the motion of the ship. You need wear no gloves, and may drink your soda-and-brandy without being ashamed of it.”
—Anthony Trollope (1815–1882)
“My profession brought me in contact with various minds. Earnest, serious discussion on the condition of woman enlivened my business room; failures of banks, no dividends from railroads, defalcations of all kinds, public and private, widows and orphans and unmarried women beggared by the dishonesty, or the mismanagement of men, were fruitful sources of conversation; confidence in man as a protector was evidently losing ground, and women were beginning to see that they must protect themselves.”
—Harriot K. Hunt (1805–1875)
“... the modern drama, operating through the double channel of dramatist and interpreter, affecting as it does both mind and heart, is the strongest force in developing social discontent, swelling the powerful tide of unrest that sweeps onward and over the dam of ignorance, prejudice, and superstition.”
—Emma Goldman (1869–1940)
“The United States is the only great nation whose government is operated without a budget. The fact is to be the more striking when it is considered that budgets and budget procedures are the outgrowth of democratic doctrines and have an important part in developing the modern constitutional rights.... The constitutional purpose of a budget is to make government responsive to public opinion and responsible for its acts.”
—William Howard Taft (1857–1930)