Agnes: Capitol is “bankrupt”
By Gregg M. Rubio (The Freeman) | Updated December 28, 2012 - 12:00am
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Magpale
CEBU, Philippines - Acting Governor Agnes Magpale claimed yesterday that the Province of Cebu is “bankrupt” with almost P200 million in payables and only P90.4 million cash in bank representing the general fund as of December 26, 2012.
But suspended governor Gwendolyn Garcia and her brother, Rep. Pablo John Garcia, retorted that Magpale is presenting an “incomplete” and “totally false” financial picture of the Province.
She challenged Magpale for a one-on-one debate on the financial condition of the Province just to save the image of Cebu.
“Let her bring in her best accountants and I will show her the true and accurate financial picture of the Province, it might educate her,” Garcia added.
Cash report
Magpale along with Provincial Board Members Peter John Calderon and Arleigh Jay Sitoy presented before the media the cash report of Provincial Treasurer Roy Salubre.
The cash report shows that the Province of Cebu has a total of P387.4 million cash in bank including those of Special Education Fund amounting to P61.6 million, Trust Fund amounting to P235.4 million and the P90.4 million of general fund.
Calderon who chairs the PB committee on budget and appropriations said that this is in contrary to the claim of suspended Governor Gwendolyn Garcia that the province has P2 billion surplus and zero debts.
Salubre said that only the general fund can be utilized and the estimated amount of payables in his office is already almost P200 million.
“Ug ato na bayran sa pagkakaron, kuwangan gyud ang pondo nga naa sa provincial treasury,” Salubre said. (If we pay all that now, we don’t have enough money.)
Magpale asked Salubre if Cebu Province can be considered bankrupt should they pay all the payables now.
“Di pud siguro bankrupt Ma’am, but we have to prioritize sa atong bayra-nan,” Salubre told Magpale adding that, “wa gyud ta’y ikabayad sa tanan.” (We’re not really bankrupt, but we have to prioritize which ones to pay first because we can’t pay all of those at one time.)
Irresponsible
But Gov. Garcia and Rep. PJ Garcia called the statements of Magpale and Salubre as irresponsible.
“I categorically state that it is a very irresponsible statement and it is not the treasurer who says that’s in the red because it’s the accounting that knows unsay status,” Gov. Garcia said.
Rep. Garcia also supported his sister saying that Magpale presented an incomplete picture of the finances of the Capitol just to show that the Province is in dire financial straits which is totally false.
“I’m not directly accusing her of being a liar but she is half liar,” Rep. Garcia said.
Gov. Garcia explained the Internal Revenue Allotment (IRA) share in the amount of P133 million enters the Capitol’s coffer every month.
The Province is also projecting more than a billion pesos of income from the sale of province-owned lots previously covered by Ordinance 93-1 that were already settled.
The province is now receiving P600,000 from Filinvest Land, Inc. as rental of the lot previously occupied by Cebu City Jail and other sources of revenues.
Garcia accused Magpale of destroying the image of Cebu that has given interest in investments and in tourism.
“But she is trying to destroy that image because of her hatred of me. That shows her small-mindedness, kay wa siya nagtan-aw sa general perspective and more so wa siya kasa-bot sa financial position,” she said.
Garcia said that what Magpale has presented to the people were projected payables and that she was placed in an unfair situation incomplete data regarding the financial status of the province was presented.
“Pero ipakita ninyong figures unya dili kasabot labi na ni atong overacting karon wa kasabot, she has been drumming this up, it’s as though gikawat nang kwarta, intawon oy,” Garcia said. (Show the real figures, especially to this overacting who does not understand. It’s as if money was stolen, which was not.)
Garcia explained that the unexpended Trust Fund can be reverted to the general fund that will amount to more than the estimated payables.
Garcia cited the P9.8 million Trust Fund for the vegetable highway project but was not spent so this can be reverted.
Revenue non-collection
Meanwhile, Calderon believes that the “shortfall” was due to non-collection of the projected revenues for this year.
Salubre’s report did not contain the collectibles and other sources of revenue of the province.
Calderon said he is inclined to lower the P3.6 billion proposed budget after finding out in the budget hearing for the 2013 annual appropriations that there are some unrealistic revenue sources.
He pointed out that as long as the projected revenues will be materialized, the governor can submit a supplemental to the PB.
“I think that is the most prudent and sound fiscal management nga conservative ang atong estimate sa revenues ig-prepare sa annual budget,” Calderon said.
Calderon added that he will ask Magpale to certify as urgent the passage of the 2013 budget so that they can enact it before the end of January next year.
The PB will resume its session on January 21. — /JPM (FREEMAN)
Mao diay di mokanaog kay aron di sakpan iyang pug-ok
Cebu Provincial Capitol is Bankrupt????? Magpale said...
Asa naman dia ang halin sa mga yuta nga g pamalegya nila tru the years nga wala man hapit project na si Gov
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