Davao City collected a total income close to P4 billion from combined sources locally and the Internal Revenue Allotment (IRA) share last year.
City Treasurer Rodrigo Riola said the city's revenues amounting to P3,787,453,494.09 were sourced from local collections of P1,386,788,247.09 and IRA share of P2,400,665,247.
Riola said the total income exceeded the annual target for 2009 of 3,780,869,248 by 0.17 percent.
He said the City Treasurer's Office (CTO) collected P1,096,980,354.35 for tax revenue; P88,940,859.50 for permits and licensing; P93,060,190.71 for service income; P2,980,187.15 for business income; P17,942,436.17 for other income; and P86,884,219.21 under the economic enterprises.
Riola said for the year 2010, the target revenue is P3,799,803,248 that will be sourced from targeted local collections of P1,389,138 and IRA share of P2,410,665,248.
He said the CTO projected the increase in 2010 target before the Supreme Court issued a ruling that confirms the constitutionality of the 16 newly-created cities, which would affect the IRA share of old cities.
"The total appropriation (for 2010) will be utilized under the following accounts. For the general fund: P3,151,580,437 and for the Annual Development Fund P562,425,321," Riola said.
He also gave an update on the city's business permit collection, which the CTO, through the Business Bureau, processed from January 4 to 26.
He said compared with the 2009 business permit statistics, within the period of January 4 to 26, there were 713 new permit applications, 24,279 permits renewed for a total of 24,992 permits processed.
Meanwhile, he said there were 25,464 business permits renewed while there were 790 new business permit applications. This totals to 26,255 permits processed under this year's first quarter or renewal period.
Out of the 26,255 permits, 25,902 have been approved, Riola added. (PNA)
LAP/Judy G. Quiros/lvp
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