Cebu City to operate on P8B budget next year
Acting City Treasurer Veronica Morelos. (CDN PHOTO/JUNJIE MENDOZA)
THE Cebu City government will operate on a P8.1 billion budget next year, or P1.9 billion higher than this year’s P6.2 billion.
The executive department is however confident that they will be able to raise enough money to fund the 2019 proposed budget.
During yesterday’s budget hearing, the Local Finance Committee (LFC) told members of the legislative committee on budget and finance that they expect a higher collection from local, real property, and business taxes this year.
Tax revenues amounting to P3.5 billion comprised the biggest share in the city’s source of funds for next year’s budget.
The remaining amount will be sourced from the Internal Revenue Allotment (P1.99 billion); non-tax revenues (P1.17 billion); estimated revenue sources (P1 billion) and shares from joint-ventures (P250 million).
The LFC is composed of the city’s accounting, budget, and treasury offices.
Acting City Treasurer Veronica Morelos said this is due to the city government’s intensified crackdown on delinquent taxpayers.
“From 92, there’s now only 11 individuals whom we are yet to identify who have failed to pay their real property taxes,” Morelos said.
It was also revealed yesterday that the city government managed to collect P1.47 billion from business taxes alone in 2017.
For January to June this year, they recorded an income from business taxes at P1.167 billion. The city is also expecting an additional P587 million from collection of business tax for the period covering July to December this year.
This means that the city government can earn up to a total of P1.755 billion from business taxes, or P285 million more than in 2017.
During the budget hearing yesterday, the council discussed the expenses, as well as special projects, for the Office of the Mayor which was allotted P1.35 billion.
Under the city-sponsored programs that cost up to P80 million, P35 million will be allocated for the Sinulog 2019 celebration, which is now only three months away.
Meanwhile, P455 million will be used as financial aid for the city’s senior citizens, P158 million to fund the scholarship program, and P1.1 million for the continuing operations of the Call Center Program.
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