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Davide: Cebu’s Success as Richest Province for All Cebuanos

Davide: Cebu’s Success as Richest Province for All Cebuanos

With Cebu still tagged as the richest province in the country, Governor Hilario P. Davide III assures that the Provincial Government continues to work for holistic and inclusive growth.

“I would like to assure ang atong mga kaigsuonan sa probinsiya nga ang inyong Provincial Government naningkamot gyud kutob sa among mahimo nga ikahatag kaninyo nga serbisyo,” Davide said.

Based on the annual financial report of COA for the year 2016, Cebu has assets amounting to P32.43 billion.

Davide clarified though that bulk of the amount, which is around P30 billion, is Capitol’s capital asset. The remaining P2 billion is cash in bank and is already allocated for Capitol’s programs and projects.

“Ako lang klarohon nga katong P32 billion sa COA report, asset kana sa probinsiya, dili kana cash. Dunay cash nga atong gigahin, mao kini ang cash nga naglangkob sa atong budget,” Davide said in an interview over the radio program “Frankahay Ta” of dyCM.

Davide explained that the value of these real properties, mostly in Cebu City, appreciated through the years. Real properties also include equipment, machineries, vehicles and heavy equipment.

Cash in bank, as of this month of October, is P2.8 billion, said Davide.

Cebu’s standing as the richest province has been consistent for three years now. In 2015, Cebu also topped the list with P30.3 billion, and in 2014 with P28 billion.

“Karong tuiga and last year ni improve ang atong collection, ang income,” the governor said.

Also, he said the Provincial Government’s internal revenue allotment (IRA) increased.

“This year nagdawat kita og P242 million monthly, and last year P210 million,” he said.

For the whole year last year, Capitol received a total share of P2.5 billion from the IRA. He expects a bigger share this year.

Davide said the biggest bulk of Capitol’s cash in bank is sourced from IRA.

“Be assured nga nagpadayon gyud ang among serbisyo ug hinaut nga magpabiling hugot ug lig-on ang inyong pagtuo ug pagsalig sa provincial government,” he added.