Malabon reports dropping income | Inquirer News
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Malabon reports dropping income

The Malabon City government posted a lower operating income for 2012, despite its intensified revenue-generating and tax-collection campaign.

Its 2012 annual report, released recently, showed that its operating income for the year was P802.92 million, 17 percent off its target of P971.29 million and 13 percent lower than its operating income of P923.71 million in 2011.

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The city’s net income, which represents the part of income the city retains after expenses, was not stated in the report.

More than 50 percent of the earnings were from the city’s P463.90-million internal revenue allotment (IRA), a budgetary support from the national government.

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The rest came from local income, amounting to P339.02 million, down 17 percent from P409.70 million in 2011.

“The city government was able to generate a total revenue collection of P339.02 million from its local sources, or 42.22 percent of total income and about 66.82 percent of the total local revenue target.

“The total collection for the year 2012, including the IRA share of the city government, was P802.92 million, or 82.67 percent of the total local revenue target. In terms of revenue sources, Malabon City’s financial data reflected a 57.78-percent IRA dependency,” the report read.

The bulk of the city’s local income came from taxes, which declined to P231 million from P263 million in 2011.

The city was expecting to collect P328 million in taxes last year. Real property and business tax payments made up most of the city’s income from taxes.

Nontax income also declined, from P144 million in 2011 to P108 million. The city earns nontax income from permits, certificates and fees.

The city racked up expenses worth P677.81 million in 2012, with personnel services and maintenance and other operating expenses taking up P569 million.

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Debt payments, donations and subsidies for the city’s socioeconomic projects were also accounted for in the expenses.

The city’s reduced earnings came as it reported intensive revenue and tax collection initiatives.

“As part of its tax awareness campaign and to enhance revenue generation, the city government through the City Treasury Department conducted ‘Operation Timbangan’ in public markets and made use of billboards, streamers, print media and public address system,” the report said.

“Posting of certified list of delinquent real property taxpayers; coordination with barangay officials, religious groups, NGOs and school sector for tax decorum as well as issuance of notices to delinquent real property taxpayers were likewise made,” it added.

For 2013, the city government has set a budget of P880 million, with P394 million expected to come from local revenue.

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TAGS: City government, Earnings, income, malabon
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