1.3.10. Acquisition of LED Wall
1.3.11. Establishing of Waterworks for various barangays
1.4. These loans are authorized by SB Resolution No. 81, s. 2017, SB Resolution No. 46
with Ordinance No. 5, s. 2017 and SB Resolution No. 375 with Ordinance No. 99-
A, s. 2021. The various loans are subject to thirty-two (32) and fifty-six (56) equal
quarterly amortizations and will mature in CY 2029, CY 2037, and CY 2039.
1.5. In support of this, the bank confirmation dated December 31, 2024, received from
the Land Bank of the Philippines confirmed that the Local Government Unit (LGU)
had availed of the following loan facilities.
1.6. Our review of the Loan Profile and the schedule of loan payments due for CY 2025
submitted by the Municipal Accountant provided a basis for the audit team to
examine and validate the amount of the loan to be classified as current and non-
current portions of the loans as shown below: (See Appendix 1 for details)
Outstanding Amortization
Particulars Balance
Current Non-Current
As of 12/31/2024
Terminal Bus Complex ₱ 0.00 ₱ 0.00 ₱ 0.00
Mabinay Spring Resort 50.11 50.11 0.00
Rehabilitation of Farm to Market
4,478.52 4,478.52 0.00
Roads
Heavy Equipments 0.00 0.00 0.00
Construction of 2-Storey
24,252,036.28 5,100,416.32 19,151,619.96
Commercial Building
Construction of People's Park with
15,881,494.76 3,340,656.36 12,540,838.40
Commercial Stalls
Improvement and Expansion of Wet
17,425,232.49 3,691,688.92 13,733,543.57
Market and Vegetable Building
Government Center 121,375,722.25 9,978,022.08 111,397,700.17
Const. & Rehab. Of Farm to Markets 83,248,560.81 6,838,323.24 76,410,237.57
Water Works System 22,019,406.63 1,808,666.48 20,210,740.15
Heavy Equipments 27,966,403.00 6,650,750.00 21,315,653.00
Acquisition of Led Wall 1,999,586.00 399,917.20 1,599,668.80
Improvement of Mabinay Spring
20,025,681.70 715,202.92 19,310,478.78
Resort
Establishment of Water Works for
6,496,500.00 0.00 6,496,500.00
Various Barangays
Government Center - Site
44,913,577.69 1,604,056.34 43,309,521.35
Developmemt (Phase II)
TOTAL 385,608,730.24 40,132,228.49 345,476,501.75
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