Capitol posts P3.5B revenue in 2017

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09:44 PM January 10th, 2018

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By: Morexette B. Erram, January 10th, 2018 09:44 PM

 

Capitol (CDN PHOTO/LITO TECSON)

THE provincial government of Cebu has exceeded its target income of P3.3 billion for the year 2017 by posting a P3.54 revenue by the end of the year.

 

Provincial Treasurer Emmanuel Guial told reporters at a press conference yesterday that based on their records, their collection for 2017 was also higher compared to the P3.09 billion generated in 2016.

Guial added that nearly a third of Capitol’s revenue came from the national government, in the form of its Internal Revenue Allotment (IRA) amounting to P1.3 billion.

Meanwhile, province-owned hospitals topped the list of highest earning contributors with P297. 7 million. Guial also revealed that the provincial government also earned P68.7 million from the Cebu South Bus Terminal (CSBT) and P5.8 million from the Larsian food complex located at the Fuente Osmeña area in Cebu City.

“The income will be used as general funds for this year. When you mean general fund, it can be spent for whatever purposes,” he said.

The Capitol owns and operates 16 hospitals in the province, four of which are classified as provincial hospitals, which can accommodate more than 100 beds, while the rest are district hospitals.

But Guial added that they were expecting higher expenditures for 2018 especially on upgrades and improvements in province-owned hospitals and medical equipment.

For 2018, the province has approved a P4.5 billion budget. Health services received the largest share at P1.4 billion.

“Expenditures will be bigger for our hospitals. It is the number one priority of our governor (Hilario Davide III). From our proceeds, we allocated quite a lot for health services such as upgrading infrastructures of hospitals,” said Guial.

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