Note 5 - Receivables
This account consists of the following:
2024 2023
Current:
Real Property Tax Receivable ₱ 1,245,109.02 ₱ 1,336,813.76
Special Education Tax Receivable 298,226.54 463,029.99
Loans Receivable-Local Government Units 172,000.00 214,087.96
Loans Receivable-Others 9,314,677.23 9,498,046.27
Due from NGAs 200,460.00 200,460.00
Due from Local Government Units 7,536,700.00 6,616,910.23
Due from Other Funds 18,951,772.50 36,195,180.29
Due from Special Accounts 4,494,408.17 59,869.52
Advances to Special Disbursing Officer 220,845.00 44,035.00
Advances for Officers and Employees 19,750.00 44,826.00
Receivables-Disallowances/Charges 1,597,349.23 2,199,849.23
Due from Officers and Employees 1,029,154.96 5,305,522.65
Due from NGOs/POs 474,999.17 429,166.27
Other Receivables 394,268.61 405,768.61
Total Current Receivables ₱45,949,720.43 ₱ 63,013,565.78
Less: Off-set
Due to Other Funds ₱ 18,951,772.50 ₱ 36,195,180.29
Due to Special Accounts 4,494,408.17 59,869.52
₱ 23,446,180.67 ₱ 36,255,049.81
Net Current Receivables ₱ 22,503,539.76 ₱ 26,758,515.97
Non-Current:
Other Receivables -
Due from NGOs/POs ₱ 1,081,668.77 ₱ 1,545,834.66
Total Non-current Receivables ₱ 1,081,668.77 ₱ 1,545,834.66
The balances of Real Property Tax (RPT) Receivable and Special Education Tax (SET)
Receivable as of December 31, 2023 were closed at the beginning of CY 2024. At the same
time, Receivables from RPT and SET for 2024 were set up based on the Certified List of
Taxpayers provided by the City Treasurer.
The ₱172,000.00 balance of Loans Receivable –Local Government Units represents the
capitalization for the Bigasang Barangay outlets in 31 barangays to address the city-wide rice
shortage in 2008. It was a joint project of the National Food Authority and the City
Government. The loans were granted to the Barangays without interest.
Loans Receivable – Others account includes the Loans Receivable set up in January 2018 for
the Swine Feeds Program granted in CYs 2014 and 2015 under the General Fund. Outstanding
balance as of December 31, 2024 was ₱9,314,677.23.
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