Fiscal Administration

Local monetary administration refers to systems, structures, processes, resources, and the indemnity environment government the inter-governmental and inter-local fiscal relations, affecting, among others the following o the giving of allotments and grants by the subject area government (NG) to local government units (LGUs) o sharing of revenue enhancementing powers between the NG and the LGUs, and among LGUs units o policy on tax rates and structure o revenue and usance planning revenue and expenditure planning o revenue utilization and expenditure allocation o monitoring and approval of budgets, tax ordinances and other fiscal measures o policy on borrowing and borrowing instruments and o appointment and care of local fiscal officers. The trends in local fiscal administration are inadequacy of own-source revenue to pay basic and devolved functions and thus render LGUs dependent on transfers from the NG.Reliance on few local taxes, particularly the concrete property tax and business tax and uneven level of expenditures hence, unequal access to local universal services. With regards to the inadequacy of lgus, the matter government must assist lgus in making development strategies to maximize the resources available. In that way, lgus can somehow sustain themselves and become less dependent to national government.It must also table service in attracting investors regardless if the leaders are opposition or administration. Lgus must not sole trust on few local taxes. It must encourage business to pay honestly the taxes and give realization to those who pay on time. Those who evade must be persecuted regardless if they are powerful individuals and has connecrtion to top officials. The national government must help in regulating taxes and help in catching the big fishes.