Mandaue’s income rises to P1.2 billion

CEBU, Philippines – The income of the Mandaue City government had risen from P664 million in 2007 to P1.2 billion last year, with business and real property taxes among the biggest earners.

Based on the city treasurer’s records, the city’s P664,566,328.98 income in 2007 increased by 10.1 percent (P731,062,343.07) the following year.

Vice Mayor Glen Bercede, in a speech before the Department of Education-Mandaue City officials, said since Mayor Jonas Cortes assumed office in 2007, the city has been enjoying a steady increase of its local income, resulting in an increase also of the city’s Special Education Fund (SEF).

Using its SEF, the city government was able to give calculators, computer sets and photocopiers to DepEd, where Bercede gave the speech. A portion of certain local income like the real property tax is set aside for SEF, he said.

Over the last eight years (2007-2014), Mandaue gained the highest income at 15.03 percent, in 2009, when it  earned P840 million, including the internal revenue allotment of P323 million.

In 2010, the increase was 6.21 percent or P893 million, and P991 million or 11.03 percent in 2011. In 2012, the city reached its first billion-peso income at P1.031 billion, including its IRA of P303 million, business tax at P244 million and real property taxes at P90 million.

In 2013, the city’s income rose by 10.86 percent or P1.143 billion, and last year, it grew further to 8.14 percent or P1.2 billion.

This year, the city treasurer has yet to close its accounts for its realized and actual income. The City Council had however passed on first reading the P2.6 billion the city’s proposed budget for 2016. —/RAE (FREEMAN)