Office of Local Government Finance in the Department of Finance.
Section 11
SEC. 11. Office of Local Government Finance in the Department of Finance. — The Secretary of Finance and the Undersecretary for Administration shall carry out the powers and functions of the Department of Finance in the exercise of general management and direct supervision over its regional offices. Accordingly, the Local Government Finance Service of the Department is hereby elevated into an office to be known as the Office of Local Government Finance, which shall be headed by a Director and for this purpose, the position of Finance Service Chief is hereby converted into Director and assigned to CES Rank II. There is also hereby created the positions of Assistant Director for Local Fiscal Operations and Assistant Director for Real Property Tax Administration, both of which are assigned to CES Rank III. The said positions of Director and Assistant Directors shall belong to the Career Executive Service. The Office of Local Government Finance shall, under general direction, provide assistance in the exercise of direct executive supervision over the regional offices and over the financial affairs and revenue-raising units of local governments and the formulation of appropriate policies that will foster sound fiscal management at local government levels. It shall also provide the local governments with technical assistance in the execution of policies, preparation of fiscal plans and programs, the enactment of tax ordinances, real property valuation and the utilization of credit facilities in order to enhance their financial stability and growth.