Note 9 – Road Network System
The LGU has a total of 82.849 kilometers of locally-funded roads with a total cost of
₱625,571,684.76. For the year ended, the agency booked a total of ₱108,544,438.14 for
local road additions, none for major repairs and none for regular maintenance. Reductions
in the amount of ₱4,668,928.30 were recorded due to reclassification.
Note 10 – Intangible Assets
This account consists of the following:
2024 2023
Computer Software ₱ 3,500,000.00 ₱ 3,500,000.00
Total ₱ 3,500,000.00 ₱ 3,500,000.00
Note 11 – Financial Liabilities
This account consists of the following:
Current:
Accounts Payable ₱ 204,147,206.52 ₱ 172,185,847.57
Due to Officers and Employees 4,836,446.29 6,807,406.27
Loans Payable-Domestic 55,385,904.82 5,826,781.91
Total Current Financial Liabilities ₱ 264,369,557.63 ₱ 184,820,035.75
Non-Current:
Loans Payable-Domestic ₱ 602,318,171.17 ₱ 580,635,102.26
In FY 2022, the City started availing of its Omnibus Term Loan Line from the LBP to
finance the full payment of lots acquired as site of the New Government Complex and of
the Directorate for Integrated Police Operations (DIPO) – Visayas of the Philippine
National Police, the Site Development of the New Government Complex, the Construction
of the New Government Center and the Construction of the Sports Complex.
The loan releases for the acquisition of lots in Barangay Malusay for the New Government
Complex and in Barangay Calamba for the DIPO – Visayas were consolidated into one (1)
promissory note in CY 2023.
Loan releases for the Site Development of the New Government Complex, the Construction
of the New Government Center and the Construction of the Sports Complex are based on
progress billings and Statements of Work Accomplished. Presented on the next page is the
list of outstanding loans as of December 31, 2024:
27
