THE Department of Budget and Management (DBM) has released the guidelines on the preparation of the FY 2024 annual budgets of Local Government Units (LGUs) as their indicative National Tax Allotment (NTA) shares for fiscal year (FY) 2024 were pegged at P871.38 billion.
DBM Secretary Amenah F. Pangandaman signed on 09 June 2023 the Local Budget Memorandum (LBM) No. 87, spelling out the factors in the allocation of the FY 2024 NTA shares of the LGUs consistent with the codal formula provided in the Local Government Code of 1991 and in compliance with the Supreme Court Ruling on the consolidated cases of Congressman Hermilando I. Mandanas, et al. vs. Executive Secretary Paquito N. Ochoa, Jr., et al. and Honorable Enrique T. Garcia, Jr. vs. Executive Secretary Paquito Ochoa, et al.
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