City officials recently commended and congratulated all treasurers, assessors, budget officers and focal persons of all provinces, cities and municipalities in the Cordillera Administrative Region (CAR) for achieving 100 percent submission of fiscal year 2023 1st and 2nd quarter statement of receipts and expenditures report and quarterly report on real property assessment.
In a resolution authored by Councilor Leandro B. Yangot, Jr., local legislators stated the Bureau of Local Government Finance (BLGF) in the Cordillera and the entire city and the Cordillera region are delighted and proud of such an incredible performance worthy of admiration and commendation.
Earlier, provincial, municipal and city treasurers, assessors, budget officers and focal persons in the Cordillera achieved 100 percent compliance on the submission of fiscal year 2023 1st and 2nd quarter statement of receipts and expenditures report and quarterly report on real property assessment.
The statement of receipts and expenditures is the official financial management reporting system prescribed by the Department of Finance to monitor the financial performance of local governments.
Under Department Order No. 59-2015, assessors will upload their quarterly report on property assessments through a dedicated module in the electronic statement of receipts and expenditures system that local governments use in reporting their local fiscal operations to the finance department.
Pursuant to Republic Act (RA) 9646 or the Real Estate Service Act, assessors, who are licensed real appraisers, must prepare quarterly report on real property assessment on a quarterly basis to determine the aggregate market and assessed values of all real properties according to property classification, type and size to establish the corresponding collectible basic real property tax and additional levy on real property.
Copies of the approved resolution will be forwarded to the concerned provincial treasurers, assessors, budget officers and focal persons in the different parts of the region for their information, guidance, ready reference and further needed action.