CEBU - After more than two months since the Bureau of Local Government Finance downgraded its status from a second-class municipality to third-class, Argao bounced back by even surpassing its original status.
In a memorandum circular dated January 6, BLGF executive director Ma. Presentacion Montesa re-classified Argao into a first-class municipality by amending the memorandum the BLGF issued last November downgrading the town’s classification.
The re-classification stemmed from the move of the town officials asking the BGLF to reconsider the downgrading of its status late last year.
Mayor Edcel Galeos sought for the re-examination of the financial report of the municipality which was made as basis in the classification of towns.
BLGF admitted that there was an error in the appreciation of the figures relative to the annual income of the municipality.
It was earlier reported that the town only has an annual income of P41,990,345, below the P44 million requirement for the second-class municipality.
In a review of the financial status of Argao, BLGF found out that the town actually has a regular annual income of P66,576,352.11 and has an average income of P78,179,244.18 from 2004 to 2007.
Montessa said Argao was upgraded to first-class town based on the Department of Finance Order No. 23-08 issued on July 29, 2008, which provides a benchmark of P55-million annual income for the first-class municipality.
In an interview over dyLA, Galeos welcomed the upgrading of the town’s status, saying it would open a window of opportunities for them. He said it would encourage investors to put up capital in the town.
Municipal administrator Eliezer Sarmago, on the other hand, said the reclassification would also mean the upgrading of the salaries and benefits of the municipal employees and officials.
Sarmago also clarified that property owners should not worry because the town’s new status would not have any effect on the real property taxes. – Fred P. Languido/LPM (THE FREEMAN)