Tag: Department of Finance

NegOcc to obtain DOF loan for employees’ housing project

BACOLOD CITY — The Negros Occidental provincial government is seeking a loan from the Municipal Development Fund Office (MDFO) of the Department of Finance (DOF) to develop a housing sub-project for its employees.

The Provincial Board granted authority to Governor Alfredo Marañon Jr. on Wednesday to negotiate for the loan, chairman of the committee on appropriation, budget and finance, said 2nd District Board Member Salvador Escalante Jr.

The total project amount will be determined after the completion of the detailed engineering and development plan, he added.


Facade of the  Negros Occidental Provincial Capitol in Bacolod City.
Photo courtesy of Negros Occidental Capitol PIO

The housing project, which will rise on a 40-hectare property in Barangay Mansilingan, Bacolod City, will have 400 to 500 lots.

Escalante said the provincial government will implement the project on its own instead of partnering with a developer through a joint venture.

“(This way,) we can make sure the project cost will be reasonable,” he said.

Escalante said the development will include roads and parking spaces, among others.

Also on Wednesday, the Provincial Board approved a PHP50-million supplemental budget mainly intended for local government units (LGUs).

Of the total amount, PHP48 million was allocated as aid for LGUs and the rest, for the repair of a portion of the session hall.

Escalante said the source of fund is the PHP50-million allocation previously intended for the purchase of an aircraft for monitoring and cloud seeding operations.

“The initial plan did not push through so the fund was realigned for the aid requests of various cities and municipalities,” the board member said. (PNA)

Source: http://www.pna.gov.ph/articles/1059934

Bacolod City rakes in P1.4-B in taxes, other revenues in 2018

BACOLOD CITY — The City of Bacolod raked in PHP1.444 billion in real property taxes and other non-tax revenues in 2018, with a collection efficiency of 143 percent, records of the City Treasurer’s Office (CTO) showed.

A report submitted by City Treasurer Giovanni Balalilhe to Mayor Evelio Leonardia showed the collection target set by the Department of Finance – Bureau of Local Government Finance (DOF-BLGF) for Bacolod was only PHP1.013 billion.

“Again, major economic indicators for Bacolod are pointing upwards. This is a solid statement that we have restored business confidence,” the mayor said in a statement on Thursday.

The CTO reported that in 2018, the city’s real property taxes reached PHP730.528 million, indicating a collection efficiency of 186 percent, compared to the target of PHP392.671 million.

It added that non-tax revenues, including business and other local taxes, fees and other charges, and economic enterprises, contributed a total of PHP714.199 million, posting a collection efficiency of 115 percent as against the target collection of PHP621.145 million.

“With (our) total collection efficiency was 143 percent, we exceeded the target of DOF-BLGF,” Balalilhe said.


He noted that CTO-Bacolod had received three awards from the DOF-6 (Western Visayas) in 2017 for having the highest collection efficiency among the cities in the region.

In 2018, Bacolod hit a record-high of 23,187 business permits registration, which is 23.2 percent or 4,370 higher since 2015. (PNA)

Source: http://www.pna.gov.ph/articles/1059268