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[av_heading heading=’Don’t just rely on taxes, LGUs told’ tag=’h3′ style=’blockquote modern-quote’ size=” subheading_active=’subheading_below’ subheading_size=’15’ padding=’10’ color=” custom_font=” av-medium-font-size-title=” av-small-font-size-title=” av-mini-font-size-title=” av-medium-font-size=” av-small-font-size=” av-mini-font-size=” admin_preview_bg=”][/av_heading]
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BACOLOD City – Local government units (LGUs) in Negros Occidental must not solely rely on taxes, according to Gov. Alfredo Marañon Jr. They must continue to implement their income-generating projects, he said.
Marañon said these projects will help Negros Occidental become “self-sustaining.”
The provincial government released its Business Income Report for 2016 on Thursday.
The report showed that the province posted a P4.138-billion income in 2016, from P3.646-billion income in 2015.
The 2016 provincial income were from internal sources contributing P1.037 billion and the external sources, P3.1 billion.
Internal sources refer to real property taxes (P124 million), business and other local taxes (P34 million), fees and charges (P774 million), and economic enterprise (P103 million).
The external sources, on the other hand, were the Internal Revenue Allotment (P2.575 billion), the province’s share for national collection (P16.165 million), inter-local transfers (P509 million), and extraordinary receipts (P10,000).
In 2016, Negros Occidental collected P69 million from the lease and rental of its facilities and P30 million from the income of its 11 district hospitals.
In October 2017, the Commission on Audit (COA) released a financial report showing that Negros Occidental earned the highest revenues among provinces in the country with P4.726 billion in 2016.
Provincial Budget Officer Jose Percival Salado Jr. said the provincial government sources its local revenues from earnings posted by the entities run by the Economic Enterprise Development Department and from the real property tax collections.
The provincial government runs the Mambukal Resort and the Food Terminal Market, among others.
Salado said Negros Occidental gets “high collection” from Mambukal Resort and the district hospitals.
Negros Occidental is the third richest province in the country, based on COA’s 2016 Annual Financial Report for Local Government Units.
It maintained its previous year’s ranking after its assets increased from P9.40 billion in 2015 to P11.041 billion in 2016.
Salado attributed the “satisfactory financial standing” of the province to its “good accounting system.”
He added that Negros Occidental has many properties, almost 90 percent of which were fully accounted and fully valued. (PNA/PN)
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