THE Provincial Government of Misamis Oriental has collected more than P1.5-billion revenue during the fourth quarter of 2018, according to a report of the Provincial Treasurer’s Office (PTO) last Wednesday, February 20.
Roland Jame Violion, head of the PTO of Misamis Oriental, reported that most of the collections among the local sources came from the economic enterprise, which amounted to P102.9 million.
The economic enterprise consisted of collected revenues from rentals (P4.2 million), hospitals (P92.4 million), and Misortel (P6.2 million).
Other local sources of revenues include: Real Property Tax at P84.18 million; Business Tax at P25.38 million; Fees and Charges at P24.2 million and Other Receipts at P95,351.13.
However, the bulk of the general fund of the province came from the external sources, particularly the Internal Revenue Allotment or IRA with the total of 1.3 billion.
The IRA refers to a local government unit’s share of revenue from the National Government.
Even though the province has collected a total of P1,583,683,857.67 last year, it also spent almost the same amount, at P1,505,114,826.09, leaving a balance difference of around P78 million.
Most of the money spent by the province were recorded for Current Operating Expenditures which amounted to P1.31 billion.
Other expenditures include: Non-Current Expenditures (P156.6 million), Payment of Prior Years’ Accounts Payable (P25.8 million) and Continuing Appropriation (P12.3 million).