Good financial management resulted in Iloilo City’s gaining over P400 million surplus amid the health pandemic.
Iloilo’s Public Information Office (PIO) said the city has an excess collection of P149.31 million, P237.11 million savings from Personnel Services (PS) and Maintenance and Other Operating Expenses (MOOE), and P14.27 million adjustment as per the report of the City Accountant’s Office.
City Treasurer Jinny Hermano said the savings were from projects and programs that were not implemented, unspent PS, and underestimated revenue with the city treasurer collecting more than the projected collectibles.
Hermano said the city government exceeded its business taxes by P136 million and real property tax by at least P65 million.
“The gains were the outcome of good financial management.”
“The gains were the outcome of good financial management. We hope for another surplus this year as the city intends to re-implement its collection strategy while encouraging prudent spending,” he stressed.
“Due to the pandemic, the expenses were limited to what was appropriated by the city government.”
Hermano added that due to the pandemic, the expenses were limited to what was appropriated by the city government.
“We did not spend too much, that’s why we have savings from MOOE and PS,” he stressed.
In February, the city government announced that the Local Economic Enterprise Office (LEEO) that manages the operations of the markets and slaughterhouse also posted a higher collection last year.
Its market collection was higher by P3 million from its P78 million target while the slaughterhouse collection was up by P4 million from its P18 million target.
Iloilo City Mayor Jerry Treñas said that the surplus will be used for programs that were not funded last year and other projects that were identified by the Local Development Council.
