The Bureau of Local Government Finance (BLGF) is pushing for an enhanced financial data disaggregation for local government units (LGUs) during the Training-Workshop on the Proper Encoding of LGU Financial Data on Disaggregated Budget and Expenditures for FY2023-Q4, Statement of Receipts and Expenditures (SRE), and Quarterly Report of Real Property Assessment (QRRPA) Review, Validation, and Uploading of 4th Quarter Report FY2023 held on February 16 in Puerto Princesa.
In her keynote message, BLGF Executive Director Consolacion Agcaoili emphasized the crucial need for an upgraded LGU Integrated Financial Tool (LIFT) system.
This enhancement aims to generate detailed local finance data, facilitating improved data presentation and analysis.
BLGF stressed that the goal is to enhance decision-making processes, aid policy development, and support the implementation of Republic Act No. 11964, also known as the Automatic Income Classification of Local Government Units Act.
The training-workshop focused on equipping participants with the necessary skills for the proper encoding of LGU financial data.
By promoting financial data disaggregation, the BLGF aims to empower LGUs with more comprehensive and nuanced information to guide their financial strategies and comply with relevant legislation.
