NOV 18-24, 2010
COMMENTARY
As legislative departments of local government units wrapped up annual budgets for the next fiscal year, 2011, it’s clear now that the Tagum City government is standing up as the richest LGU throughout Davao del Norte and Compostela Valley areas. With its P815.4 million budget for 2011, the city government is clearly inching its way to become a member of the elite club of few billionaire local governments in the country. For next year and for today’s budget news, Tagum City government has broken an unprecedented record of having a budget greater than the respective budgets of the provincial governments of Davao del Norte and Compostela Valley provinces.
Its 2011 budget is P29.3-million greater than the P786,110,100 annual budget of Davao del Norte provincial government and P60.5 million greater than the P754,941,937 annual budget of Compostela Valley provincial government.
Tagum City’s overgrown budget is due to a number of factors inclduing the vigorous income-collection efforts springing from the revised revenue code (which particularly caused for the sudden shooting up of the real property tax collections), the large incomes generated out of its economic enterprises and the continued growing of economic activities of Tagum City.
To stress, the city’s revenue code revised two years ago to be attuned with realistic levels of valuation and market and business considerations is continuously paying off in boosting the city government’s income.
With the expected topping of Tagum City in terms of budget and income for the next fiscal year, City Mayor Rey “Chiong Oy” Uy becomes the most budget-powerful chief executive of the DavNor-Comval land.
Mayor Uy in earlier interview with the Valley & City Chronicle said that city’s budget for 2011 has been all expected because of robust local income sources derived from its RPT, economic enterprises and business taxes. And earlier, city treasurer Edgar de Guzman said that it would now take about two to three years more for the city government to hit a P1-billion income mark.
Treasury officials said that the city government under the mayor’s local income thrust has been generating since the recent years accelerating income levels characterized by the higher rates of increases in the local incomes greater than the rates of increases of its Internal Revenue Allotment (IRA), which is dependent on the budgetary formulation and decision of the Manila’s central government through the Dept. of Budget and Management.
It’s definitely good tiding that the premier city of Tagum is achieving budgetary feats so that it can fuel further its physical and economic development not only for the good of its people but for the benefit of the people of the neighboring towns and provinces which have been patronizing the city’s commercial and industrial services and facilities for playing since then as a sub-regional service centre in this part of the country.- Cha Monforte
Filed under: tagum comval davao del norte budget, tagum comval davao del norte budget
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