DUMAGUETE CITY – The City Council is set to deliberate and approve its biggest city budget ever proposed to the tune of P 790 million for 2019, a significant leap from P 689 million from the current fiscal year, or an increase of P 101 Million.
There is a steady and hefty increase in the city’s annual budgets is credited to the high income collections from local businesses and local taxes said City Treasurer Cristina Merced. She also credited her staff for their industry and the city’ residents for their honesty in religiously paying their taxes to the treasury.
City Budget Officer Antonieta General said that for 2019 the two main sources of income for the city are the Internal Revenue Allotment at P 466 million and P 324 million from local taxes and fees sources.
Incomes derived from businesses constitute income from local sources while IRA are shares from national taxes collected mainly by the Bureau of Internal Revenue.
In 2017, the estimated income was only P 639 million but at the end of the year, the total collection reached P 730.4 million or an excess of P 91.4 million.
Treasurer KC Merced also revealed that the number of business establishments operating in the city has steadily increase from 7, 074 in 2016, 7, 415 in 2017 and 7, 459 as of June 30, 2018.
However, the number of newly opened business has fluctuated from 608 in 2016 to 673 in 2017 to a low of 401 in the first half of 2018. Collection from call centers or BPOs located in the city amounted to 29.9 million in 2017.