SILANG, Cavite, the country’s third wealthiest municipality after Carmona in Cavite and Limay in Bataan, saw its income balloon by 44 percent in 2022 equivalent to P439.428 million.
The increase catapulted its total income for the year well past the billion mark at P1.427 billion from only P987.755 billion in 2021.
The figures were disclosed in the municipality’s 2022 Financial Statements attached to the audit report released by the Commission on Audit last May 22.
A copy of the report was submitted to the Office of municipal Mayor Alston Kevin Anarna last April 23, 2023.
Silang’s total assets also grew by P716.052 million during the year to settle at P4.454 billion from P3.738 billion a year ago.
“The increase in revenue was due to increases in Internal Revenue Allotment received from the Department of Budget and Management (DBM), other shares from national taxes, tax revenues, and service and business incomes,” the COA said.
However, government auditors recommended that the municipality initiate legal action against the contractors for the P12.985 million “Rehabilitation of Storm Drainage System along Metro Silang” project and the contractor for the P6.6 million SPED Building at Silang Central School.
The audit team said the storm drainage was supposed to be completed by December 19, 2022 but the worksite was abandoned by the contractor with the project only 75 percent completed.
A review of records revealed the 15 percent mobilization fee amounting to P1.95 million was paid out even if the contractor did not submit an irrevocable standby letter of credit from a commercial bank, a bank guarantee, or a surety bond.
