By Emmanuel T. Erediano
[email protected]
Variety News Staff
THE Department of Finance on Friday reported to the Legislature a $10.5 million revenue collection for February 2026, falling short of the projected $12.7 million.
Finance Secretary Tracy B. Norita also warned that departments and agencies may experience funding shortfalls by the end of the fiscal year if spending levels are not adjusted accordingly.
Norita, in her monthly financial report to Senate President Karl King-Nabors and House Speaker Edmund S. Villagomez, said the $2.2 million, or 17%, deficit was offset by the $2.4 million surplus previously recorded for January. As a result, she said, cumulative collections stand at $1.02 million, or 2% short of the budget forecast as of Feb. 28, 2026.
Norita explained that one contributing factor was the decrease in hotel occupancy tax collections. She said total actual collections reached $1.3 million, falling short of the projected $1.8 million, or 25%.
Another factor, she said, was the decrease in total cumulative collections in the non-aviation fuel tax, where actual collections reached $647,187, falling short of the $1.1 million forecast.
The secretary also informed King-Nabors and Villagomez that the general fund has an available balance of $10.3 million for budget allotment after actual expenditures. While this reflects a surplus of available funds at present, she said, the balance does not indicate the projected fiscal year-end position.
She said that due to the implementation of the $4.4 million proportionate budget cut, monthly allotments have been reduced moving forward.
“As a result, it is anticipated that most departments and agencies may experience funding shortfalls by the end of the fiscal year if expenditure levels are not adjusted accordingly,” Norita said.
She added that the Office of Management and Budget will continue to closely monitor expenditures and allotment distributions and will provide timely updates as the fiscal year progresses.
Emmanuel “Arnold” Erediano has a bachelor of science degree in Journalism. He started his career as police beat reporter. Loves to cook. Eats death threats for breakfast.
