THE cash utilization rate posted by government agencies was 78% in January, according to the Department of Budget and Management (DBM).
The National Government, local governments, and government-owned and –controlled corporations (GOCCs) used P233.80 billion worth of notices of cash allocation (NCAs) issued as of the end of January.
Meanwhile, unused NCAs amounted to P66.87 billion, against the P300.67 billion released during the period.
The January utilization rate was ahead of the year-earlier pace of 70%, the DBM said.
In January, the utilization rate of departments was 70% or P143.10 billion of its P202.99 billion in allocations, leaving P59.89 billion unused.
NCAs are a quarterly disbursement authority that the DBM issues to agencies, a requirement to withdraw funds from the Treasury to support their spending needs.
The Office of the Vice-President posted a 100% utilization rate at the end of January, followed by the Department of Foreign Affairs at 95% and the Department of Budget and Management (DBM) at 91%.
Budgetary Support to GOCCs was 100% utilized, with P4.39 billion of funds released.
The departments of Energy and Migrant Workers both posted an 89% release rate in January.
Meanwhile, the Office of the Ombudsman (28%) and the Commission on Elections (32%) posted the lowest utilization rates.
The DBM has yet to release the full-year cash utilization rate by government agencies and GOCCs for 2024. — Aubrey Rose A. Inosante