Capitol income up by P200M last year

• Source: http://old.philstar.com/cebu-news/2018/01/11/1776751/capitol-income-p200m-last-year
• Tuesday, January 11, 2018 12:00 am

By Lorraine Mitzi A. Ambrad (The Freeman)

CEBU, Philippines — The 2017 income of the Cebu provincial government has exceeded its P3.3-billion target by P200 million.

Provincial Treasurer Emmanuel Guial reported that the provincial government earned more than P3.542 million last the year or over P500 million than the income in 2016.

With this development, Guial said that the provincial government has been successful in sustaining the positive trend each year.

Capitol had an annual income of P2.8 billion, P3.09 billion, and PP3.54 billion in 2015, 2016, and 2017 respectively.

The biggest chunk of the income last year was from the P1.3 billion Internal Revenue Allotment (IRA) shared of the province from the national government.

In the beginning of 2017, the provincial government has projected to get an IRA of P2.9 billion and a consolidated income of P3.3 billion. Freeman ( Article MRec ), pagematch: 1, sectionmatch:

The next biggest source of Capitol’s income is the provincial-run hospitals with a total earning of P296.7 million.

From tax collection, Capitol earned P176.5 million, P68.7 million from the Cebu South Bus Terminal (CSBT), P57.8 million from the collection of regulatory fees and P5.8 million from the stall rental of Larsian food strip.