Filinvest pays P150 M, shores up city budget
Cebu City Hall now has money to spend after Filinvest Land Inc. turned over P150 million as advance payment to the City Treasurer’s Office (CTO) yesterday.
The last-ditch meeting of Mayor Michael Rama in Manila with Filinvest officials to press payment of P400 million or a portion of that for the city’s share in the joint venture development of a lot in the South Road Properties (SRP) apparently paid off.
Acting City Treasurer Diwa Cuevas said the Filinvest’s P150 million would help cover the city’s yearend financial obligations.
The Cebu City Council yesterday approved Supplemental Budget 3 worth P156 million.
Of this sum, P84 million is set aside for the “calamity assistance” of P20,000 for each of its 4,200 employees and officials.
Another amount of P47.9 million will cover monthly allowances of judges, prosecutors, clerks of courts, policemen, firefighters and National Bureau of Investigation (NBI) agents assigned in the city from July to December.
Another P10 million would pay for tipping fees to a private landfill facility in Consolacion town where the city dumps its garbage.
Mayor Rama, City Legal Officer Jerone Castillo and Cuevas were in Manila last Tuesday to meet Filinvest top officials.
The Cebu City government and Filinvest also came out with a newspaper advertisement today to “reaffirm their common and continuing commitment to their joint venture in the South Road Properties.”
The announcement in behalf of City Legal Officer Castillo and Tristan Las Marias, Filinvest vice president for the Visayas and Mindanao, mentioned of the Manila meeting.
“The City Treasurer also confirmed that Filinvest has not been remiss in its obligations to the city under the JV and is regularly remitting the City’s share in the sales proceeds of the project,” the ad says.
During yesterday’s session, Councilor Margot Osmeña asked Cuevas why the city has not yet paid its barangay environment officers.
Cuevas said there were delays in the processing of their honoraria.
Councilors Alvin Dizon and Eugenio Gabuya said the city’s job order employees weren’t included in the calamity assistance allocation.
The council also approved a resolution by Councilor Dave Tumulak seeking the allocation of P3.8 million to fund the city’s Christmas activities.
This includes giving each job order employee a basket of Christmas goodies consisting of ham, five kilos of rice and assorted feast items.
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