Capitol few millions shy from hitting revenue target

CEBU, Philippines – The Cebu provincial government has already collected 96 percent of its annual revenue collection target as of October this year.

The provincial treasurer’s office reported a total revenue collection of P2.715 billion from various sources against its P2.859 billion target.

Provincial treasurer Emmanuel Guial said he is expecting to hit more than their collection target by the yearend. The target, however, included the P144 million projected sale of the Capitol-owned lot at Maria Luisa Subdivision in Barangay Banilad, Cebu City.

The Capitol wants to sell the property, which then governor Gwendolyn Garcia refused to dispose because of its great contribution to the financial position of the province, allegedly to fund various projects.

However, the Commission on Audit requirements hindered the administration of Governor Hilario Davide III from disposing the lot within this year.

The Capitol records show that the provincial government collected P123,408,535 taxes from amusement, delivery trucks and vans, sand and gravel and other quarry products, as well as fines and penalties since January to October.

It has also collected P45,743,864.26 on non-tax receipts, which include regulatory fees, business and services income. The Capitol income also included the P1,543,238,623.20 share of the Internal Revenue Allotment, P2,247,137 share from Philippine Charity Sweepstakes Office, P55,532,878.77 income from South Bus Terminal, and P150,455,815.32 from district hospitals.

The Capitol was recognized by the regional office of the Bureau of Local Government Finance as top performing local government unit in revenue collection and assessment operation in 2014.

BLGF-7 conducted in June 2015 the performance evaluation of local treasurers and assessors of four provinces in the region, as well as 16 cities and 116 municipalities.

Cebu Province scored an average growth rate of 39.61 percent on revenue collection and emerged on top of the list of all the LGUs in Central Visayas.— /FPL (FREEMAN)