City incurs P38M budget surplus
For the first time the city government under Mayor Jerry P. Treñas incurred a surplus of P38 million from last year's budget.
Treñas thus praised the city's economic managers for their efforts which resulted to said achievement.
The city's economic managers are City Treasurer Katherine Tingson, City Budget Officer Ninda Atinado, City Accountant Consolacion Tormon and City Assessor' Office chief Nelson Parreño.
The P38 million surplus will be allocated as additional salary for all regular employees, for Magna Carta for Health which is P6 million and another P5,000 for employees covered in the city's Collective Negotiation Agreement (CNA). Employees except division chiefs will receive P5,000 from the city government.
Meanwhile, City Treasurer Tingson said they have an over collection of P26,289,182 in 2006. Their actual collection is 103 percent higher than what was targeted.
However, Tingson said their real property tax collection fell short after the Philippine Ports Authority (PPA) ceased from paying the city of their debts.
Tingson said they have a collectibles of P15 million from the PPA. Nevertheless, the city government was able to collect P127,170.565.85 from the real property tax. The actual collections made is P127,170,565.85. The deficit is P12,139,434.13. It is much lesser compared with the P15,000,000 collectibles they have from the ports authority.
In 2006, the target collection for business and other taxes was P208,210,000. The actual collections reached P236,315,9299.28.
For the non-tax revenues which includes payment for clearances, the target is P55,240,000 and the actual collections made is PP60,943,545. There is an increase of P5,703,545 or an increase of 110 percent from its target collections.
For the markets and slaughterhouse, the target collection is P26,740,000. The actual collections made is P30,359,149.23. There is an increase of P3,619,148.23 or an increased of 114 percent from its target, said Tingson.