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Bacolod City, Philippines Thursday, July 11, 2013
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‘Bacolod gov't
financially stable'

BY CHRYSEE SAMILLANO

“Bacolod City is financially stable, its collection is very efficient and we are on the right track of collecting the estimated revenue for 2013.”

This was the assurance given by Bacolod City Treasurer Annabelle Badajos to the members of the Sangguniang Panlungsod yesterday during its regular session, where she was invited together with the City Accountant and acting Budget Officer to enlighten the city officials on the financial status of the city.

Badajos said “I am quite optimistic that we will have an excess of under estimated income towards the end of the year that can be used for supplemental budgets if ever the new administration would like to avail of it.”

However, they have estimated a reduction in the Internal Revenue Allotment of the city of about P12.8 million a year (due to the creation of new cities), she said.

CURRENT ACCOUNTS, TIME DEPOSITS

Badajos informed the members of the SP that as of June 30, the city has P313 million in time deposit at the Philippine National Bank and Philippine Veterans Bank, and P433 million in various current accounts at the Land Bank of the Philippines.

Badajos said the time deposits placed in the different banks are earning a lot of interests for the city and that she will furnish the City Council the list of time deposits scheduled for maturity.

SURPLUS AVAILABLE

City Accountant Ed Ravena said he has issued a certification that there is a surplus of P50 million available from the 2012 collection of the city, which the new administration can freely use (either for supplemental budget to hire casuals or for other needs of the city).

Badajos said the source of funds paid to the job order casuals by the previous administration was certified by the City Accountant and taken from the surplus, although usually taken from the General Fund.

Councilor Caesar Distrito asked Ravena if the P50 million is enough to fund the necessary salaries and wages for the next six months for the same number of casuals hired by the previous administration.

Ravena replied that if the Mayor opts to hire plantilla casuals of the same number, perhaps the amount would be sufficient.

FEARS BEING SPREAD

Disttrito said the statements of the three department heads regarding the income of the city is enough to allay the fears being spread by some quarters that the city does not have enough money.

Vice Mayor Greg Gasataya said it was pointed out during the session that, as of June 30, the total expenditures of the city is about P730 million out of its P1.2 billon annual budget. The department heads have clarified that the city has money left for the new administration, he said.

Councilor Wilson Gamboa Jr. asked to be furnished copy of the periodic budget report of each department and appraisal of actual financial condition of the city.

He noted that there were budgets from the General Fund that have already been obligated and that he was informed that some items have no balance left.

ALL PASSED BY SP

Badajos assured Gamboa that all these have passed through the SP.

Councilor Ana Marie Palermo also asked to be furnished by the City Planning and Development Office the list of projects under the 20 percent Development Fund.

Before the start of the session, Distrito, who is the floor leader, pointed out that there should be a resolution or ordinance inviting the City Treasurer, City Accountant and City Budget Officer to the session.

He said he only received a letter inviting them to appear at the session to shed light on the financial status of the city on Tuesday.*CGS

 

 

 

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