THE Cebu Provincial Government posted a 12.62 percent increase in total earnings in 2013 compared to what it earned in 2012.
According to the statement of revenue shown by the Provincial Treasurer’s Office, Capitol earned a total of P2.287 billion in 2013. The Provincial Government made P256 million more compared to the P2.031 billion in 2012.
The 2013 earnings represented the P2.216 billion in total revenues plus the P71.896 million in real property taxes.
Provincial Treasurer Manny Guial attributed the increase in revenue to the Capitol’s campaign strategy, which is “to encourage more businessmen to come in,” as well as the office’s efforts to collect the arrears from big companies and utilities, and the efficient collection of taxes.
Guial said that the high income of Larsian Food Park and the Internal Revenue Allotment (IRA) share from the National Government also added to the increase in Capitol earnings.
Larsian Food Park, which is now under the supervision of former terminal manager Carmen Quijano, posted a total of P6.149 million in collections in 2013, which is way above the 2012 collections of only P1.064 million.
IRA share from the National Government also increased, from P1.627 billion in 2012 to P1.823 billion in 2013.
The amount, though, fell short of the Capitol target to support this year’s P2.596 billion budget, the same statement of revenue revealed.
Guial assured, though, that the Capitol has a P200-million standby credit in a bank that will only be utilized if there is a need.
The annual budget has also set aside P11 million to pay for loan interests in case
Capitol would use the credit line.
Not all collections, though, were bright in 2013.
The Cebu South Bus Terminal (CSBT), which is managed by Vicente Dejoras Jr., showed a decrease in total collection from P65.156 million in 2012 to P59.889 million in 2013.
Guial said it was because of the decrease in the rate of parking fee and abolition of terminal entrance fee.