Development of an effective Public Financial Management System in the Municipality of Baliwag

The Municipality of Baliwag, in partnership with the Department of Budget and Management-Region III, works on the improvement of the public financial management system through the introduction of the Public Financial Management Assessment Tool (PFMAT) and the Public Financial Improvement Plan (PFMIP). Such tools will help to bolster the refinement of the system currently implemented in the locality.

In a series of seminars conducted by DBM-Region III dating back last 2016, the significance of establishing a sound Public Financial Management System has been raised to the awareness of the LGUs. According to Mr. Reymon Romero, the local chief executives together with the local finance committee must ensure the effective utilization of public funds in an effort to achieve good local governance. He also added that a local government unit must spend within its means and learn to prioritize programs that are necessary for the improvement of the local economy, and for the creation of a more sustainable economic management.

As a part of the implementation of the tools launched by the Department of Budget and Management, the Local Finance Committee, headed by Engr. Nemencio M. De Leon, conducted an internal assessment of the current status of Baliwag’s Public Financial Management System. Through the Public Financial Management Assessment Tool (PFMAT), the team was able to identify the strengths and weaknesses of the municipality.

All the weaknesses pointed out in the assessment was used in the accomplishment of a Public Financial Management Improvement Plan (PFMIP), which will aid the Municipality of Baliwag to establish a local government trusted for its transparency, and accountable leadership all envisioned by Mayor Ferdinand V. Estrella through Serbisyong May Malasakit.

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