Who are qualified to access the PCF?
- The PC Fund is open to all provinces, cities and municipalities that passed the “Seal of Good Housekeeping (SGH)” focused on :
- Sound Fiscal Management highlighting the absence of adverse COA Opinion on LGU financial statements; and
- Transparent and Accountability Governance putting value on the Full Disclosure Policy.
- LGUs that were recipient of previous year’s PCF (e.g. 2010) shall be eligible to the current year’s PCF if they :
- Passed the Seal of Good Housekeeping
- Have completed the previous year’s PCF-supported projects; and
- Have submitted to the concerned DILG Regional Office corresponding Project Completion Report and the Report of Disbursement verified by COA Field Office
What is the Maximum Amount PCF Subsidy and the Counterpart Sharing Scheme?
A “50-50” counterpart sharing scheme between the National Government PCF and the eligible LGU shall be applied. The PCF subsidy shall match the investment of eligible LGU up to a maximum amount based on the LGU level. The maximum subsidy for a province is P7M; city—P3M ; and for a municipality—P 1M.
How is the PC Fund Utilized?
- The PCF with the LGU counterpart may be used as:
- subsidy for big projects of LGUs;
- counterpart funds for foreign-assisted projects of the LGUs,
- co-financing for joint projects with other LGUs, and
- counterpart for projects of the LGUs with the private sector in the context of public private partnership in establishing more economic activities.
- The utilization of PCF shall be governed by the existing policies on the appropriations and utilization of 20% development component of the Annual Internal Revenue Allotment (IRA) of LGUs.