Friday, 25 April 2014

Mambulao LGU cash balance up 7.9%


THE Mambulao local government posted a cash balance of P50.45 million, up 7.9% or P3.695 million at the end of 2013, from P46.756 million at the end of 2012.

Figures from the Treasurer’s Office showed that total cash flow last year was P120.895 million, coming from different sources.

Of last year’s total receipts, P88 million came from the LGU’s share from internal revenue collection and other receipts totalling P11.35 million.

During the year, the LGU paid out various items totalling P92.366 million, leaving the coffers with at least P28.53 million at the end of the year.

The cash out flow account included payment to suppliers/creditors (P32.60 million); personnel wages and salaries (P27.69 million); interest expense (827,979); and others (P31,328 million).

During the year, the LGU collected P19,566 representing payment for principals on loans to other entities.

The LGU spent P22.33 million on property, plant and equipment and made loans to other entities, amounting to P103,903 million.
During the period, P2.41 million went to loan amortization.

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