Makati's 11-month revenues hit P11B

MANILA, Philippines - Makati City has collected P11.01 billion in total revenue collection as of end-November last year, Makati City Mayor Jejomar Erwin Binay said on Tuesday.

“The latest revenue collection report of our City Treasurer has boosted our confidence in being able to achieve, if not surpass, our goals for 2013,” Binay said in a statement.

Binay said priority programs to be implemented by the city government this year will focus on the upgrading of systems aimed toward more efficient and effective delivery of services, such as the full implementation of the Unified Benefits Card that consolidates all benefits for residents in one card.

The subsidized hospitalization program of the city will also be expanded to include other major health institutions like the Philippine Heart Center and the National Kidney and Transplant Institute as its partners.

Makati City Treasurer Nelia Barlis has reported that total revenue collection from January to November 2012 amounted to about P11.01 billion,  which is six percent higher than the amount collected for the same period in 2011.

Binay said the bulk of the collection came from local sources, led by Business Tax that increased by 13 percent, from P5.06 billion to P5.72 billion; Real Property Tax with P3.71 billion, or one percent higher than P3.68 billion collected from January to November 2011.

For the same comparative period, the city’s collection from miscellaneous fees and charges increased by one percent from P574.60 million to P578.29 million, while its earnings from economic enterprises dipped to P197.30 million, or four percent lower than P205.27 million recorded as of November 2011.

Meanwhile, the other sources of revenue for the city consist of interest income, which increased by five percent to P131.14 million in the same period, and the Internal Revenue Allotment (IRA) share from the national government, which has decreased by seven percent from P713.97 million to P664.74 million last November.

Binay noted that Makati’s income from local sources has consistently topped that of other cities in Metro Manila, with the bulk of collections comprised by business and realty taxes.

“We once again gratefully acknowledge the support of our taxpayers – the business community and real property owners in Makati – who have been our steadfast partners in building stable and sustainable growth and development for our city and its people,” Binay said.

Binay said the city government will reciprocate the support and confidence shown by stakeholders through enhancing governance and pursuing more innovations to render world-class public service.  - Mike Frialde