City’s 2012 collection higher than 2011

CEBU, Philippines - Acting Cebu City Treasurer Emma Villarete disclosed that there is an increase of 6 percent in their revenue performance for 2012 compared to 2011.

Villarete presented the 2012 accomplishment report of the City Treasurer’s Office (CTO) yesterday to members of the media at the Conference Room of the City Mayor’s Office.

From P3.5 million in 2011, the revenue performance for 2012 went up to P3.7 million. Villarete said that the city’s share in the Internal revenue Allotment (IRA) decreased last year, this is why the increase is not that high.

The expenditures, however, also increased by 10.2 percent from P3.3 million total expenditures in 2011 to P3.7 million last year.

Villarete said that they have a great challenge to achieve P4 billionto P6 billion revenues this year from real property taxes, business and other taxes, regulatory and license fees, economic enterprises, proceeds from sale of government lots, share from economic zones and Internal Revenue Allotment (IRA).

The city’s potentials, according to Villarete, are the 29,621 registered business establishments, 215,475 real property units, 42 amusement places, 10 markets, 32 abattoirs, 200 social amelioration centers, players in the construction industry, government owned lots and PEZA registered establishments.

Villarete said that the P4 billion target is achievable but they will do their best to get more than the amount.

“This is the right time to demand, we will be conducting our job in terms of collection in order to realize the projects and programs for Cebu City,” said Villarete. —(FREEMAN)