Francisco Vales, Jr., city economic enterprise officer-in-charge, told reporters Monday that his office has surpassed its P50 million target for 2006. The amount, he said, is more than 10 percent higher than actual collections in 2006, but is still a small portion of the city’s revenue.
More than half or P40 million of the target revenue of P62.65 million this year will be drawn from collections in nine public markets run by the city.
The rest are expected from the slaughterhouse (P11 million), the Davao City Overland Transport Terminal in Ecoland (P1 million), Sta. Ana Port facility (P950,000), Cemeteries (P800,000) and Davao City Recreation Center (P300,000).
Vales cited a 400% increase in collections from lot rentals in the city's 10 public cemeteries this year after the implementation of the city's revised revenue code.
The target revenue from economic enterprises, however, is around P10 million short of the approved expenses approved for 2007 at P72.6 million expenses in establishments such as markets, slaughterhouses, sea port and cemeteries.
The city government's overall target income in 2007 is estimated at P1.04 billion from local sources, including P867 million in tax revenues and the city enterprises office's P62.65 million.
The City Council here approved in November a P2.59-billion budget for 2007, half of that from the city’s income from local sources and the rest from the city’s internal revenue allotment of P1.48 billion.
The increase in the budget is based on the projected increase of P311.3 million in income this year.
The city government registered an improvement in estimated income from local sources from 35 percent in 2006 to 43 percent in 2007. The ratio of the IRA as source went down from 65 percent in 2006 to 57 percent in 2007. (Walter I. Balane/MindaNews)