North Cotabato province collected PHP4.5 billion in taxes under its general and special funds in 2024, surpassing its estimated income of PHP4.1 billion and maintaining its status as a debt-free province, Governor Emmylou Taliño-Mendoza announced Tuesday.
In her State of the Province Address (SOPA), Mendoza highlighted the province’s strong financial performance, noting that local tax revenue reached PHP100.7 million, exceeding the PHP77 million target by 130.81 percent.
Regulatory fees also surpassed expectations, with PHP559.5 million collected against a PHP306.2 million estimate.
Realty tax collections reached PHP87.7 million, significantly higher than the PHP64 million target.
“We implemented transparency-driven treasury management and more effective tax collection strategies, resulting in a stable financial status,” Mendoza said.
The province also disbursed PHP1.1 billion from trust funds, including the Department of Health’s Medical Assistance for Indigent Patients (MAIP) and the Department of Social Welfare and Development’s social pension program for senior citizens.
Around PHP853 million, or 20 percent of the national allotment, was allocated to economic services, such as road construction, multipurpose buildings, and procurement of road equipment.
Mendoza reported a surplus of PHP769 million in 2024, with total assets increasing to PHP15.9 billion and total equity reaching PHP15.1 billion. Total liabilities decreased to PHP834 million.
“This proves the growth of the province and the strong ability of the provincial government to fund future programs,” Mendoza said. (PNA)
