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:
“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 sources of poetry are in the spirit seeking completeness.”
—Muriel Rukeyser (1913–1980)
“I love meetings with suits. I live for meetings with suits. I love them because I know they had a really boring week and I walk in there with my orange velvet leggings and drop popcorn in my cleavage and then fish it out and eat it. I like that. I know I’m entertaining them and I know that they know. Obviously, the best meetings are with suits that are intelligent, because then things are operating on a whole other level.”
—Madonna [Madonna Louise Ciccione] (b. 1959)
“A budget takes the fun out of money.”
—Mason Cooley (b. 1927)