This is for those who have not heard or read the 2013 State of the Cty Address of outgoing city mayor Atty. Evelio LEonardia ------------------------------------------------------- LEONARDIA SAYS ‘I’m turning over a billionaire city’ BY CHRYSEE SAMILLANO “As we leave office on June 30, we are entrusting to the incoming administration a ‘billionaire city’, one of the few in the country that have attained this financial stature.” This was what Bacolod Congressman-elect and outgoing Mayor Evelio Leonardia said in his 12th State of the City Address at the session hall of the Sangguniang Panlunsod yesterday during its last regular session under his administration. Leonardia recalled that when their administration took over in the middle of 2004, the city’s annual budget was only P614 million. And in the past nine years, they have doubled it to the present budget of P1.230 billion for 2013. “Over the past nine years of our administration, the financial condition of Bacolod City remains sound and in excellent health,” he said. Leonardia said Bacolod continues to be liquid and solvent. “By liquid, we mean that our current assets can amply cover our current liabilities including loan installments due for each current year. By solvent, we mean that we have sufficient cash funds to pay for operating expenses and current obligations as they fall due,” he added. During his SOCA, the Mayor presented in capsulized form the highlights of his administration’s financial management that centered on income and revenue generation; annual general fund budget, and consolidated annual surplus – the three criteria of financial performance. FINANCIAL MANAGEMENT He first took up the issue of financial management because it is now the hottest topic of his political adversaries, he said, Leonardia said that in 2004 the annual revenues generated or gross income of the city was only P669 million and they succeeded in increasing the city’s revenues, with 2012 registering the highest, so far, at P1.4 billion. He cited that the revenues of the city grew from 2004 to 2012 mainly because of the expansion of the local economy from new businesses that opened in the city, upward adjustment in the land tax rates, intensified tax collection campaign, and updating of the revenue code. NO DEFICIT EVER Leonardia said that in the nine years of their administration, they have never suffered a budget deficit. “We always ended each year with a surplus or a net income. Our formula was simple: We always spent less than what we collected during the year.” He said that, based on records, their consolidated annual surplus or net income was P68 million in 2004 which grew to P293 million in 2012. Of the annual general fund budget of P1.230 billion for this year, they have already collected P677 million as of May 31, 2013, or about 55 percent, Leonardia said. The increase in local revenues in 2012, coming mainly from the revised local tax code had cushioned the city from the more painful effects of the Internal Revenue Allotment (IRA) diminution as a result of the creation of 16 new cities, he said. MONEY TO SPEND Leonardia assured that the incoming administration will have money to spend, in response to doomsday speculations about the finances of the city by some people using their media outlets. Based on the daily cash report of the City Treasurer’s Office, as of June 24, the city has a total bank deposit of P746,890,475.21. Of this, P313.5 million is in time deposit and P433.4 million in current accounts, he said. Leonardia said that, for the next months of July to December, the incoming administration can expect the following inflows - P55.6 million of monthly IRA or a total of P334 million, and local revenues totaling about P60 million per estimate of the City Treasurer. It will have more flexibility in disposing of what remains of the unused surplus from the 2012 operations because these funds have not yet been appropriated, he said. The stories of “no more money left” being spread in the city are simply political propaganda to mislead the people and destroy their good regard for our administration,” Leonardia said. BREAD AND STONES He also said “These propagandist have thrown enough stones at me. Now, let me throw back ‘bread’ to them in the form of time deposits worth P314 million and current accounts worth P433 ---money that my administration is leaving behind and entrusting to the incoming city officials by 12 noon of June 30.” On loans availed of, Leonardia said the city had a total approved loans of P684 million, but total availment was P665 million, total partial payments on principal - P180 million, thus the remaining outstanding principal balance is only P485 million as of June 3. Leonardia said they have completed P1.317 billion worth of public infrastructure projects which include roads and bridges, and the Bacolod City Government Center. Private infrastructure spending was only P966 million annually in 2004, and this ballooned to P3.7 billion in 2012, he said. Leonardia said employment was also an all-time high under their administration where, based on records of the Public Employment Service Office (PESO), out of a total of 177,362 job applicants registered; 47,006 were locally deployed and 21,575 went overseas. Leonardia also reported on their other accomplishments which include resettlement project, education, slaughterhouse, social services, health, disaster risk reduction and peace and order, as well as recognitions bestowed upon the city. TAKE GOOD CARE He again reminded those who will have the privilege of staying and working in the Government Center in the future to “Please take good care of my baby.” “Let this era speak for itself. Let history judge us,” Leonardia said after thanking his family, the department heads and employees of the city, elected officials of the city, barangay officials, the business and private sectors, as he ended his speech. Meanwhile, former Negros Occidental Vice Governor and former Bacolod Councilor Lorendo Dilag said the SOCA made him proud and at the same time sad, especially when the Mayor mentioned the government center, a project that he said he shares. Dilag recalled that when he was still a councilor, he was chairman of the selection committee of the site. There were people who did not like the choice but he said he was guided by the principle of “the greatest good for the greatest number for the longest period of time.” That is why he recommended the present site of the government center, he said.*CGS
Posted on: Sun, 30 Jun 2013 05:38:21 +0000
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