Interest – Payable quarterly in arrears to start at
the end of the first quarter from date of initial
release
g. Collateral Assignment of 20% of LGU’s NTA
As of 31 December 2024, the loan proceeds are not yet downloaded to the account of
the municipality.
11. Inter-Agency Payables
This account is composed of the following:
Inter-Agency Payables 2024 2023
Due to BIR ₱ 194,702.76 ₱ 268,173.11
Due to GSIS 1,361,027.86 1,102,483.56
Due to Pag-IBIG 119,624.96 111,942.59
Due to PhilHealth 354,102.68 311,603.23
Due to NGAs 50,743,599.54 25,319,068.30
Due to LGUs 11,362,425.02 11,032,874.09
Total ₱ 64,135,482.82 ₱ 38,146,144.88
a. Statutory Obligations
The first four accounts represent the amount deducted from the salaries of officials
and employees and is remitted to the respective government agencies immediately on
the month following the month for which these were deducted. During the
immediately succeeding month, i.e. January 2025, the following remittances were
made:
PAYEE DATE PARTICULARS TOTAL
BIR 01/10/2025 Remittance to BIR ₱ 194,702.76
Commissioner
GSIS 01/09/2025 Remittance to GSIS 881,773.14
PhilHealth 01/15/2025 Remittance to PhilHealth 157,830.05
Differences in the amounts are still subject to further verification. The remaining
accounts represent balances of funds received by the LGU for specific purposes.
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