The Sangguniang Panlungsod of Dumaguete City is set to endorse the formation of an independent review committee tasked with evaluating the feasibility study and proposed borrowing intended to finance two major capital infrastructure projects: a new city public market and a twin two-storey City Hall extension building with a parking facility.
The measure, sponsored by Councilor Jose Victor V. Imbo, chairperson of the Committee on Finance, was filed as of Friday, June 5, 2026, and would refer the creation of the proposed committee to the Executive Department. The panel would be directed to deliver objective findings on whether the two projects are viable and whether borrowing represents an appropriate financing mechanism for the city government.
Four-Member Panel to Combine Legal, Engineering, and Financial Expertise
Under the terms of the resolution, the independent committee would be composed of four members drawn from legal, engineering, and financial disciplines.
The lineup includes lawyer Golda S. Benjamin; Engineer Richard U. Lao, who serves as president of the Philippine Institute of Civil Engineers (PICE) in Negros Oriental; and two nationally recognized accounting and auditing firms — Reyes Tacandong & Co. and SyCip Gorres Velayo & Co. (SGV & Co.), both headquartered in Cebu.
The composition pairs professional legal and engineering competence with established independent financial auditing capacity. The Finance Committee framed this structure as necessary to ensure that the city's assumptions, financial projections, and debt exposure are evaluated without bias or internal influence.
SGV & Co. is one of the Philippines' largest and most widely recognized auditing and professional services firms, with decades of experience in public and private sector financial review. Reyes Tacandong & Co. is similarly regarded as a major independent auditing firm operating nationally.
Scope of the Committee's Mandate: Costs, Revenues, Risks, and Alternatives
The resolution lays out a comprehensive and detailed mandate for the proposed panel, extending well beyond a standard financial audit.
According to the measure, the committee would be tasked with reviewing the assumptions, methodologies, and conclusions contained in the city-prepared feasibility study for both projects. It would further assess the technical, financial, economic, social, environmental, and operational viability of the proposed new public market and City Hall extension.
The panel's work would also include a thorough examination of projected costs, expected revenue streams, economic benefits, debt-servicing requirements, and associated risks tied to both projects. The committee is additionally directed to evaluate the fiscal impact of the proposed borrowing arrangement on Dumaguete City's overall financial position, debt capacity, budgetary flexibility, and long-term financial sustainability.
Critically, the resolution directs the panel to determine whether alternative financing arrangements or other implementation options might prove more advantageous to the city government — an instruction that signals the council's intent to ensure that a loan is not the only option examined before a decision is made.
Panel May Consult Stakeholders, Offices, and Independent Experts
To carry out its mandate, the independent committee is authorized to conduct consultations, interviews, and meetings with concerned city offices, relevant stakeholders, and subject matter experts as deemed necessary.
Upon completion of its review, the panel is required to submit a formal written report containing its findings and recommendations to both the City Mayor and the Sangguniang Panlungsod within a reasonable period. The resolution does not specify a fixed deadline for the submission of the report, leaving the timeframe open to be determined in the committee's actual referral to the Executive Department.
Copies of the resolution are to be furnished to the Office of the City Mayor, the City Planning and Development Office, the City Treasurer's Office, the City Budget Office, and other concerned offices for appropriate action.
Advisory Role Only: Findings Will Inform, Not Bind, City Decisions
The resolution is explicit on the legal standing of the committee's output. The independent panel would serve purely in an advisory capacity, and its findings would function as inputs to guide both the Executive Department and the Sangguniang Panlungsod in deliberating whether to proceed with the projects and the associated borrowing arrangement.
The committee's conclusions would carry no binding legal or administrative effect. Final decisions on both the projects and the proposed loan would remain with the city government's elected and executive officials.
This distinction is significant given the scale of the borrowing under consideration. The resolution does not disclose the exact loan amount being contemplated, but characterizes it as a substantial borrowing package tied directly to the construction of the new public market and the City Hall extension building.
Public Market and City Hall Extension Under Financial Scrutiny
The move to establish the independent committee comes at a critical juncture for Dumaguete City's capital planning, as local officials weigh the financial merits and risks of committing to a significant loan obligation to bankroll two of its most publicly visible infrastructure priorities.
The proposed new public market has long been a subject of discussion in Dumaguete, given the city's existing market infrastructure and the need to address capacity, sanitation, and operational concerns that have accumulated over time. The proposed City Hall extension, which would comprise a twin two-storey structure with a dedicated parking area, is likewise intended to address growing space and operational requirements within the city government's administrative core.
Both projects, however, have drawn public scrutiny — particularly regarding the associated costs, the city's current debt capacity, and the long-term financial burden that a major borrowing arrangement would place on local government finances and the public it serves.
Finance Committee Frames Outside Review as Necessary Safeguard
By endorsing an outside review before any loan agreement is finalized, the Sangguniang Panlungsod — through Councilor Imbo's measure — introduces a layer of independent evaluation into what has been primarily an executive-driven process.
The Finance Committee's decision to sponsor the resolution reflects a broader concern within the council regarding fiscal prudence. Engaging firms of the caliber of SGV & Co. and Reyes Tacandong & Co., alongside a licensed civil engineer and a legal professional, suggests that the council intends the review to be rigorous and comprehensive rather than perfunctory.
The referral of the committee's creation to the Executive Department means that the Mayor's office would formally constitute the panel and facilitate its access to the city's internal documents, financial records, and project data — a process that will be essential to the committee carrying out a thorough and credible review.
Council's Next Steps as Resolution Moves Forward
As the resolution moves through the legislative process within the Sangguniang Panlungsod, its passage would formalize the referral and set in motion the process of constituting the four-member independent committee. The city government would then be expected to provide the panel with the full feasibility study documents, financial projections, and other supporting materials needed for its assessment.
The outcome of the independent review is expected to carry significant weight in the council's eventual deliberations on whether to authorize the proposed borrowing and move forward with construction of both the new public market and the City Hall extension. The findings, once submitted, will be a matter of public record shared with multiple city offices.
No timeline has been set publicly for when the committee's report is expected to be completed, and it remains to be seen how quickly the Executive Department acts on the referral once the resolution is formally adopted by the Sangguniang Panlungsod.
Photo credit: Photo courtesy of Sangguniang Panlungsod ng Dumaguete City