Note 5 – Investments
2024 2023
Guaranty Deposits ₱43,800.00 ₱43,800.00
Other Investments 355,000.00 355,000.00
Total ₱ 398,800.00 ₱398,800.00
Other Investment in the amount of ₱355,000.00 consists of investment to the KADIWA
CENTER for ₱25,000.00 and ₱330,000.00 as investment to the Bais City Negros Oriental
Special Economic Zone (BACONSEZ) with the objectives of attracting investors to the City
through the competitive advantage in agro-industrial development and providing a one-stop-
shop for business information and establishment of factory in Bais City.
Note 6 – Receivables
Loans and Receivable Accounts
Accounts Receivables ₱ 23.59 ₱22.59
Real Property Tax Receivable 177,031,875.61 161,155,361.20
Special Education Tax Receivable 148,477,239.99 130,121,832.91
Total ₱ 325,509,139.19 ₱291,277,216.70
The amount set up in the General Fund as Real Property Tax Receivable at the start of the year
is ₱68,703,511.51 of which 41.03% was collected during the year.
Of the total amount of ₱45,802,3410.07 set up as Special Education Tax Receivable at the start
of the year, 43.09% was collected.
Inter-Agency Receivables
Due from National Government Agencies ₱2,131,043.88 ₱2,515,543.38
Due from GOCC's 10,244.12 10,244.12
Due from Local Government Agencies 4,036.76 4,036.76
Total ₱2,145,324.76 ₱2,529,824.26
Transfers from other government agencies represent those funds received for specific projects
undertaken by the LGU for 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 Memorandums of Agreement executed between the LGU
and the proponent government agencies.
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