The ₱250 million trust fund of the city is complete and has no shortage.
This was disclosed by Councilor Yan Lam Kim, chairman of the Committee on Finance, Budget and Appropriations, during his special report at the regular session of the city council last week.
It was learned that the ₱250 million budget was allocated for the construction of a multi-purpose building under the national budget through the Aid to Local Government Units (ALGU), but it was later proposed that it instead be used as additional funding for the New City Hall Complex rather than building another facility.
However, nearly two years have passed and the fund has not yet been utilized due to issues in land acquisition for the New City Hall.
This is the main reason why the project has not started, which also led to questions from the Department of the Interior and Local Government (DILG) regarding the timeline for its implementation.
It can be recalled that questions and issues surfaced on social media claiming that the fund had already been used, but this was clarified as false—the fund remains complete and untouched.
According to Councilor Lim, he personally reviewed the matter together with the City Finance Office to ensure the status of the fund.
In addition, the Land Bank of the Philippines was also checked, where it was confirmed that the amount remains intact and has even grown to over ₱300 million.
This was verified through certifications from both the City Finance Office and Landbank, showing a deposit of more than ₱300 million.
Thus, Councilor Lim urged the public to be vigilant and exercise due diligence in verifying news, especially those seen on social media where troll accounts may be present.
He also appealed to media partners to continue responsible and balanced reporting to avoid misinformation, after presenting the Landbank certification as proof. (MDS / Photos by: Jomar Figuracion / CIO)
