Bohol, along with 1,303 other local government units (LGUs) assessed by the Home Office and Local Government (DILG), have adopted sound financial management standards (GFH) set by the agency.
A DILG document showed that 1,715 provinces, municipalities and cities were assessed for the GFH, which recognizes the accounting and auditing measures of an LGU.
In the Central Visayas, 55 percent or 75 of the 136 LGUs assessed were successful.
In Bohol, the city of Tagbilaran and 37 other municipalities have also sufficiently adhered to the GFH as of November 5, 2021.
The municipalities of Bohol that passed were as follows:
- Balance sheet
- Well Unido
- Et un
- San Isidro
According to the DILG, the GFH DILG standards specifically assess an LGU’s level of compliance with the agency’s full disclosure policy on budget, revenue, and procurement.
The GFH was launched in 2010. It is one of the minimum requirements for the Seal of Good Local Governance (SGLG), in particular for the financial administration evaluation criteria.