THE cash utilization rate posted by government agencies hit 95% in the first eight months of the year, the Department of Budget and Management (DBM) said.
The National Government, local governments and government-owned companies used P2.96 trillion of the P3.12 trillion worth of notices of cash allocation (NCAs) issued as of the end of August. Unused NCAs amounted to P161.97 billion.
The NCA utilization rate was ahead of the pace compared with the 93% posted a year earlier, DBM said.
In August, the utilization rate was 99% or P378.48 billion of NCAs. Line departments used P285.87 billion, the DBM said.
NCAs are a quarterly disbursement authority that the DBM issues to agencies. This is needed to withdraw funds from the Treasury to support their spending needs.
At the end of August, line departments had used P2.19 trillion or 93% of their total allocations.
Only the Commission on Audit posted a 100% utilization rate at the end of August. This was followed by the Commission on Human Rights at 99% and the Department of Social Welfare and Development at 96%.
Agencies that posted 95% usage rates were the departments of Education, Foreign Affairs, Interior and Local Government, and Public Works and Highways.
The DBM had the lowest rate of 73%.
The DBM has said it released P5.59 trillion or 96.9% of this year’s national budget as of the end of August. — Beatriz Marie D. Cruz