Cash utilization rate hits 94% at end of July
GOVERNMENT agencies’ cash utilization was 94% in the seven months to July, the Department of Budget and Management (DBM) said.
In a report, the DBM said the National Government, local governments and state-owned companies used P2.58 trillion of the P2.74 trillion worth of notices of cash allocation (NCAs) issued as of the end of July. Unused NCAs amounted to P153.8 billion.
The cash utilization rate at the end of July was ahead of the 92% year-earlier pace.
NCAs are a quarterly disbursement authority that the DBM issues to agencies, allowing them to withdraw funds from the Treasury for their spending needs.
In the seven-month period, line departments used P1.91 trillion or 93% of their allotments.
The Commission on Human Rights posted the highest budget usage rate of 99% at the end of July. This was followed by the Commission on Audit (98%), the departments of National Defense (96%), Education and Interior and Local Government (both 95%).
The Department of Migrant Workers recorded the lowest usage rate of 68%.
The DBM reported earlier that it had released P5.43 trillion or 94.2% of the P5.768-trillion 2024 national budget as of the end of July. — Beatriz Marie D. Cruz