Saturday, February 03, 2007 Oro earns P1.4 billion in 2006
FISCAL year 2006 was one of the finest year in Cagayan de Oro City as it posted a remarkable 22.65 percent increase in income over that of the previous year.
City Treasurer Lino Daral disclosed that the City Government's income in 2006 was pegged at P1,401,915,239.57, which is P317,548,973.31 higher than the P1,084,366,266.26 income in 2005.
Daral said last year's income was mainly generated from local tax and non-tax revenue sources.
The tax revenue sources came from real property tax (P108,255,495.45), business tax (P275,113,900.93) and other taxes (P26,513,186.35).
While the non-tax revenue sources were derived from collection in regulatory fees (P20,308,926.74), service users charges (P32,588,991.78), receipts from economic enterprise (P70,532,445.61), other receipts (P1,440,962.68), share from national tax collection (P585,566,290.12) and other sources (P194,787,680.34).
The total income for general fund is P1,315,107,879.92 while the special education fund is P86,807,359.65.
With the high income posted in 2006, the city treasurer thanked the city's taxpayers for their cooperation and confidence in the City Government.
Daral stressed that the trust and confidence shown by the Cagayanons in promptly paying their tax obligations is a positive sign for Mayor Vicente Y. Emano's budgetary thrusts and reforms along fiscal management programs of the local government. (CIO)
