BAGUIO CITY – The City Accounting Office recently reported the city government’s financial status based on 2024 revenue and actual receipts.
City Accountant Freda Jimenez said that the consolidated figure based in the city government’s consolidated report of revenue and total receipts showed that the city fell short of its target by almost four percent.
The city government had a target collection of PhP2,685,274,171.00 from its non-tax and other tax revenues last year but it was only able to collect PhP2,673,188,650.12, less than PhP12,085,520.88 from the projected target.
In terms of budget and the actual amount, the city targeted some PhP2,910,380,171.00 last year but the actual amount that was generated was only PhP2,805,032,348.92, a difference of PhP105,347,822.08 or negative 3.76 percent compared to the said target.
Jimenez claimed that in spite of the fact that some income sources fell short of the targets set at the beginning of 2024, an increase in total revenue of 2024 was realized in the amount of PhP64,673,068.60 or two percent higher over the income realized in 2023.
For real property taxes that came in slightly below the city’s forecasted goals by around five percent, Jimenez said that they still represented a solid increase of 17 percent in 2024 compared to 2023.
When it comes to expenditures, Jimenez pointed out that the city’s performance for 2024 reflects a notable decrease compared to 2023.
She emphasized that conducting detailed review of the actual expenditures of 2024 provided valuable insights into the city’s financial management and overall budget efficiency.
Based on the level of the city’s actual spending, the city government generated savings in terms of personnel services – PhP134,236,168.99, maintenance and other operating expenses (MOOE) – PhP334,746,430.57, and financial expenses – PhP24,944.80.
She asserted that the generated savings marked a significant increase in the city’s surplus for 2024 which is PhP707,984,833.73 that is mainly due to increase in subsidy from government-owned and controlled corporations like the Philippine Health Insurance Corporation, increase and gains from sale of PPE and decrease in expenditures in MOOE and non-cash.
She expressed her gratitude to the accounting office staff, who sacrificed their personal time, after 5 pm, during weekends and even on holidays, to accomplish the prescribed financial reports on time. By Dexter A. See
