CEBU CITY, Cebu, Philippines (PNA) — Cebu City’s total appropriation this year has soared to P5.5 billion, according to the City Budget Office.

Said amount includes Cebu City’s annual budget for this year which is pegged at P4.6 billion, the city’s first supplemental budget of P47 million, and its second P473-million supplemental budget, Budget Officer Nelfa Briones said.

Of the P5.5-billion appropriation, Briones reported that at least P4.1 billion has already been allotted or earmarked for expenses.

Out of said P4.1-billion earmarked for expenses, she said that only P2.1 billion has been obligated, leaving the city with an unobligated billion of P2 billion.

On the basis of last year’s comparative statement of receipts, the Cebu City government’s revenues increased by 36.36 percent from 2009 to 2010.

Briones said that if the city keeps growing at its current pace, it is very likely that its revenues can total as much as P6.14 billion by yearend.