Thursday, 24 May 2012

JPanganiban ups cash reserve by 58% to P48.5m

The neat-looking Jose Panganiban town hall … richer by P48.6 million at the end of 2011, thanks to computerized tax and fee collection. – MWBuzzpic by ALFREDO P HERNANDEZ


THE municipal government of Jose Panganiban, CamNorte has an accumulated cash of P48.5 million at the end of 2011.

This was revealed by the LGU’s financial statement for the year ended December 30, 2011 prepared by municipal accountant Christine S Napa.

A copy of the report was obtained by MWBuzz.

It disclosed a total of P48.56 million in various forms of cash accounts at the end of 2011.

The figure showed an increase of P17.8 million, or 57.86 per cent, from the cash balance of P30.76 million reflected at the end of 2010.

The funds are being held in bank accounts.

It should be noted that the current mayor Ricarte Padilla took over the municipal administration on June 30, 2010 from then mayor William A Lim after winning the local elections in May 2010.

The big jump in the LGU’s year-end cash balance for 2011 showed the success of the municipal government in revenue generation through computerization of its business fee collection and other forms of revenue sources generated from the municipality’s business, commercial and industry sectors.

Padilla told MWBuzz in a recent interview that through the scheme, “the right amount of fees and taxes are now being paid to the municipal government .. no more hanky panky this time …”.

He said: “What the computer shows in fees, especially the business fees, is the amount that the businessman must pay … otherwise any amount he pays won’t be accepted by the computer.”

Mayor Padilla … no more hanky-panky in business fee collection. – MWBuzzpic by ALFREDO P HERNANDEZ
“During those days, anybody who did not want to pay the right fees haggled with the municipal treasurer so he could reduce the amount,” Padilla said.

“With that alone, the municipal coffers had lost thousands… even millions in ‘discounted’ fees’ over the years.”

Padilla said the computerized fee collection was launched at the beginning of 2011, “and it has been very successful”.

Of the P48.56 million cash balance, P429,529 represented “cash in vault”, up P347,342 (422.62 percent), from the P82,186 at the end of 2010.

There was a total of P40.19 million in the bank (local currency) representing “current account”, up P9.65 million (or 31.4 per cent), from the 2010 ending balance of P30.53 million.

However, the P7.8 million in savings account at the end of 2010 has remained the same at the end of 2011.

The LGU said that the time deposits totalling P135,883.56 are renewed annually.

Recently, Padilla appealed to his constituents alongside the business and industry community to pay taxe due the LGU to fund various on-going projects across the municipality of 27 baranggays.

Among these projects are the baranggay road cementing project, which is getting support from many donors of cement, and the construction/cementing of farm-to-market roads designed to speed up movement of goods and services in the municipality’s rural baranggays.

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