Trust Liabilities were receipts of amounts held in trust for a specific purpose. Trust
Liabilities-DRRMF was balances from MOOE & QRF 2024 and Special Trust
2022-2029 balance amounting to ₱4,169,473.33 and ₱6,027,925.02, respectively.
Guaranty/Security Deposits Payables are balances from Bid Security,
Performance Security, Warranty Security, and Retentions related to procurements
from bidders or suppliers.
Note 15: Deferred Credits and Unearned Income
2024 2023
Deferred Credits / Non- Non-
Current Current
Unearned Income current current
Deferred Credits
Deferred Real ₱
13,597,963.60 0.00 12,976,092.59 0.00
Property Tax
Deferred Special
13,597,963.60 0.00 12,976,092.58 0.00
Education Tax
Other Deferred
82,397.00 0.00 82,397.00 0.00
Credits
Total Deferred ₱
Credits / Unearned 27,278,324.20 0.00 26,034,582.17 0.00
Income
This amount refers to uncollected prior Real Property Tax taken as a Liability
account. The Deferred Real Property Tax is the reciprocal account of Real
Property Tax Receivable.
Note 16: Other Payables
Non- Non-
Current Current
Current Current
Other Payables ₱ 451,707.08 0.00 438,864.78 0.00
Total Other ₱
451,707.08 0.00 438,864.78 0.00
Payables
This amount refers mostly to the Trust Fund Account’s interest income during
the period and prior years.
Note 17: Tax Revenue
2024 2023
Tax Revenue – Individual and Corporate
Community Tax ₱ 535,839.53 565,595.48
Tax Revenue – Property
Real Property Tax – Basic 394,221.41 453,210.31
Special Education Tax 492,776.51 566,512.76
Tax Revenue – Goods and Services
Business Tax 3,736,491.44 3,182,259.94
Tax Revenue – Fines and Penalties
Tax Revenue – Fines and Penalties –
135,728.51 122,816.77
Taxes on Goods and Services
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