The Guaranty/Security Deposits Payable account consists of bidder’s bond,
performance bond, retention, and warranty security.
The Trust Liabilities – Disaster Risk Reduction and Management Fund account, with
a balance of ₱16,337,694.87 represents the amounts transferred from the General Fund to the
Trust Fund set aside by the LGU to support its disaster risk management activities pursuant
to RA No. 10121, otherwise known as the “Philippine Disaster Risk Reduction and
Management Act of 2010.”
Customers’ Deposit Payable represents the security deposit paid by the lessees of the
Bacong Commercial Complex, which shall be returned by the lessor, the Municipality of
Bacong, only after the lessees vacate and redeliver physical possession of the premises.
Note 14 – Deferred Credits/Unearned Income
This account consists of the following:
Current: 2024 2023
Deferred Real Property Tax ₱ 17,950,170.16 ₱ 14,733,278.02
Deferred Special Education Tax 17,281,711.49 15,285,747.52
Other Deferred Credits 5,114,353.44 5,114,353.44
Total Deferred Credits/Unearned Income ₱ 40,346,235.09 ₱ 35,133,378.98
Note 15 – Other Payables
This account consists of the following:
Current ₱ 85,899.79 ₱ 179,792.00
Non current 223,690.09 107,796.70
Total Other Payables ₱ 309,589.88 ₱ 287,588.70
Note 16 – Tax Revenue
This account consists of the following:
Tax Revenue – Individual and Corporation
Community Tax ₱ 807,155.91 ₱ 804,127.58
Tax Revenue – Property
Real Property Tax – Basic ₱ 7,397,036.19 ₱ 6,826,136.79
Discount on Real Property Tax – Basic 1,032,034.86 813,017.87
Sub-total 6,365,001.33 6,013,118.92
Special Education Tax 9,459,194.45 8,758,937.51
Discount on Special Education Tax 1,502,889.66 1,273,625.18
Sub-total 7,956,304.79 7,485,312.33
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