Good financial management resulted in this city’s gaining over PHP400 million surplus amid the health pandemic.
The city’s Public Information Office (PIO) in a press statement on Wednesday said the city has an excess collection of PHP149.31 million, PHP237.11 million savings from Personnel Services (PS) and Maintenance and Other Operating Expenses (MOOE), and PHP14.27 million adjustment as per the report of the City Accountant’s Office.
City Treasurer Jinny Hermano said the savings were from projects and programs that were not implemented, unspent PS, and underestimated revenue with the city treasurer collecting more than the projected collectibles.
He said the city government exceeded its business taxes by PHP136 million and real property tax by at least PHP65 million.
“The gains were the outcome of good financial management. We hope for another surplus this year as the city intends to re-implement its collection strategy while encouraging prudent spending,” said Hermano in the press statement.
He added that due to the pandemic, the expenses were limited to what was appropriated by the city government.
“We did not spend too much that’s why we have savings from MOOE and PS,” Hermano said.
Only last month, the city government announced that the Local Economic Enterprise Office (LEEO) that manages the operations of the markets and slaughterhouse also posted a higher collection last year.
Its market collection was higher by PHP3 million from its PHP78 million target while the slaughterhouse collection was up by PHP4 million from its PHP18 million target.
In a press conference on Monday, Iloilo City Mayor Jerry P. Treñas said that the surplus will be used for programs that were not funded last year and other projects that were identified by the Local Development Council.
Source: Philippines News Agency