THE Provincial Government of Cebu reported a 6.5 percent increase in its total earnings for the first five months of this year compared to the same period last year.
This means that the Capitol has earned an additional P11.658 million compared to its collection covering the same period last year, according to its statement of revenue.
Gov. Hilario Davide III, who was glad about the reported increase in revenues, said the amount will be used to help improve the delivery of basic services.
Emmanuel Guial, chief of the Provincial Treasurer’s Office, attributed the improvement of Capitol earnings to the help of the other officers and the assistance of the other income-generating offices, such as the Provincial Environment and Natural Resources Office, Cebu South Bus Terminal, Larsian and the Provincial district hospitals.
He also attributed the increase in the revision of Capitol’s schedule of market values, which was implemented last year.
In 2012, the Provincial Board approved an ordinance increasing the assessment value of properties from 40 to 50 percent. The ordinance was implemented in 2013.
He said the move did not drive investors away.
“As an investor, they have already forecasted the amount of their investment for the purpose of taxes. It is already encoded, and they will be able to see how much they have invested for capital inputs,” he said.
In 2013, Capitol collected a total of P178,142,322.62 from January to May.
For this year, the Provincial Treasurer’s Office collection for the last five months have reached P189,800,093.70.
The district hospitals proved to be the Capitol’s top earning office, with P41.387-million collection for only four months. No figure shown for the month of May.
It is followed by the south bus terminal, with P25.238 million. The terminal gets its income from parking fees, lease of properties and miscellaneous.
The other revenues came from the P2.935 million rent of Filinvest Land Inc., which is building four towers on Salinas Drive, Barangay Lahug, Cebu City; and the Larsian Food Park also in Cebu City, with P2.650 million.