NORTH Cotabato province continues to be debt-free as reflected in fiscal year 2024, governor Emmylou “Lala” Taliño Mendoza reported on Tuesday.
During her State of the Province Address (SOPA) on Tuesday, March 18, Mendoza stressed the province enjoys the status, attributing it “transparency driven” initiative of the provincial government.
“Ipinatupad ang transparency-driven na pamamahala ng kaban ng bayan, kasabay ng mas epektibong proseso at estratehiya sa pangongolekta ng buwis at iba pang bayarin na nagbunga ng mas matatag na financial status sa lalawigan,” Mendoza said.
Mendoza reported a total tax revenue collection of P100,759,356 million, 130.81% greater than the P77 million target for the whole year 2024.
Regulatory fees or non-tax revenues also surpassed the target by 182.72%, with P559.5 million collected from a P306.2 million estimate.
Special education funds sourced from real property tax collections reached P87.7 million actual income, from the P64 million budget estimate.
General fund and special fund reached P4.5 billion, a 107% increase from P4.1 billion target income.
The trust fund including the medical assistance for indigent patients from the Department of Health and social pension program of the Department of Social Welfare and Development for senior citizens amounts to P1.1 billion.
About P853 million or 20% of the National Tax Allotment is allocated to economic services such as concreting of provincial and barangay roads, construction of multi-purpose buildings and procurement of various road building equipment.
The governor also reported a surplus of P769 million in 2024 indicating the integrity of the financial status, with total assets increasing to P15.9 billion and total equity of P15.1 billion, and decreased liabilities with P834 million.
“Ito ay nagpapatunay ng pagdami ng ari-arian, paglago ng lalawigan, matatag at kakayahan ng kapitolyo upang matugunan ang lahat ng bayarin at mapondohan ang susunod pang mga programa,” Mendoza said.
For 2024, the province reported a P78 million interest income, from P2.4 billion special savings or cash fund of the capitol with the Landbank and DBP Kidapawan.
Under the general revision of assessment and property classification project, the total assessed value of property assessed amounting to P26.4 billion.
“We will continue to uphold the Serbisyong Totoo brand of governance through fiscal management,” she stressed.
The governor also highlighted the awards received such as 2023 Seal of Local Governance Award; FY 2023 Yearly Growth of Local Source Revenue (3rd place nationwide); Subaybayani Awards for promoting good governance through innovation, transparency, innovation and infrastructure development, among others.
