From Negros OCC LGU bank deposits: Vice Gov. Lacson explores fund for Cyber Center

BACOLOD CITY, Philippines — Negros Occidental Vice Governor Eugenio Jose Lacson yesterday said he was looking for possible extra money from the P1.6-billion bank deposits of the provincial government to cover the P180-million budget for the second phase of the NEGROS FIRST Cyber Center.

“Probably there are still some unrestricted fund that the provincial accountant can tell us,” Lacson said.

Governor Alfredo Marañon Jr. was proposing for a second loan of P180 million to finance such project, but Lacson said the Provincial Board will still scrutinize the loan request.

Lacson said the PB will ask for a breakdown of the P1.6 billion bank deposits (not P1.4 billion as disclosed last week by Marañon), and study if there are funds that are not restricted that can be used for the project so that there would be no need for a loan.

Based on the summary of bank balances of the Capitol, as of May 31 this year, submitted by acting provincial accountant Carolina Isuga to Lacson yesterday, the province has a total of P1,638,496,360.79 in bank deposits.

Of this amount, P261,562,829.70 are for trust fund or restricted, P125,994,860.43 in current account and P135,567,969.27 in time deposit. Others are general fund (P829,348,255.56), economic enterprise development department (P404,534,343.06) and special education fund (P143,050,892.37).

Of the total deposits, P1.09 billion is on time deposit, and P545 million is on current account, Isuga told PB.

The PB yesterday failed to tackle the P180-million loan proposed by the governor during its regular session, as it was not inlcuded in the calendar of business for the day. Lacson, in an interview after the session, said he only learned yesterday that the letter for a loan request from Marañon was already submitted to the PB Secretariat last June 19 yet.

Nonetheless, PB Member Salvador Escalante Jr. said a committee hearing will deliberate on the matter first, before it can be tackled in the session. The hearing is set next Wednesday, spearheaded by the committees of finance, budget and appropriation — chaired by Escalante himself—and of public works and infrastructure, headed by PB Member Rolando Ponsica.

Escalante explained that the P450-million loan for the first phase of the Cyber Center project has been approved by the previous PB, but only 60 percent of it have been used, with the remaining P200 million yet to be released.

The construction of the Cyber Center is 50 percent complete, Marañon told the PB members when he toured them to the facility last Friday, adding that its completion is expected in December.

Marañon’s requested P180-million loan will be for the generator, electrical connections, air-conditioning, elevators and parking space of the center, and without this money the facility could not operate, he said.

Once fully operational, the Cyber Center is projected to generate about 6,000 direct jobs and 20,000 indirect jobs within the next five years, with annual revenues from lease of spaces estimated to be P63.6 million. (FREEMAN)