4. Cash and Cash Equivalents
2024 2023
Cash in Bank – Local Currency, Current
₱ 179,338,247.50 ₱ 201,908,732.13
Account
Cash in Bank – Local Currency, Time
30,716.62 30,576.91
Deposits
Total Cash and Cash Equivalents ₱ 179,368,964.12 ₱ 201,939,309.04
Cash in bank earns interest based on the prevailing bank deposit rates. Short-term deposits
are made for varying periods, depending on the immediate cash requirements of the LGU
and earn interest at the respective short-term deposit rate.
5. Receivables
Current Receivables
Real Property Tax Receivable ₱ 8,575,539.39 ₱ 7,600,029.00
Special Education Tax Receivable 8,575,539.39 7,600,029.00
Loans Receivable – GOCC
Loans Receivable – Others 4,206,183.81 4,029,933.81
Due from National Government Agencies 426.17 426.17
Due from LGUs 350,000.00 350,000.00
Due from Other Funds 7,151,082.81 8,306,309.63
Advances to Special Disbursing Officer 0.00 500,000.00
Advances to Officers and Employees 0.00 7,068.00
Due from Officers and Employees 2,458,717.68 2,535,765.75
Total ₱ 31,317,489.25 ₱ 30,929,561.36
Less: Intra-Agency Receivables (7,151,082.81) (8,306,309.63)
Net, Current Receivables ₱ 24,166,406.44 ₱ 22,623,251.73
Non-Current Receivables
Other Receivables ₱ 420,204.75 ₱ 574,816.19
Other Receivables represents mobilization from VESA Engineering and Construction not
yet recouped as they have not yet reached the 90% work accomplishment since 2021, Pag
ibig remittance which was doubled due to Bancnet Technical error in Year 2022, Holcim’s
National Greening Program.
Transfers from other government agencies represent those funds received for specific
projects undertaken by the LGU for a specific purpose. These funds were received on the
basis of the project budgets submitted. Accordingly, the LGU is contractually bound to
spend these funds only in connection with the projects. Furthermore, the contracts stipulate
that the funds received for the project may only be applied to the costs incurred for the
project, as and when the phases of the project are certified as complete. The conditions
remaining therefore represent phases of the projects that are yet to be certified as complete.
Return of the unspent portion of the fund is subject to the conditions stated in the respective
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