Former Treasurer Arlene Rentuza said the amounts include money from the general fund, trust fund, and special education fund.
Freeman Photo
City has P14B, $1M from Osmeña’s term
Jean Marvette A. Demecillo (The Freeman) - July 22, 2019 - 12:00am

CEBU, Philippines — The term of former mayor Tomas Osmeña left P14 billion and $1 million according to the cash report of the City Treasurer’s Office.

Former Treasurer Arlene Rentuza said the amounts include money from the general fund, trust fund, and special education fund.

The general fund is P11.5 billion, the trust fund is P1.4 billion, and the special education fund (SEF) is P1.1 billion.

The money in the general fund came from the P3.5 billion first installment payment from the firms that bought 45.5 hectares of lots at the South Road Properties, the P3.2 billion second payment, and the P143 million interest.

The money in the trust fund came from the P20 million peso account for the “Piso, Mo Hospital Ko” project, the P98 million from the Philippine Amusement and Gaming Corp. account, and the P469.56 million Bus Rapid Transit project fund, among others.

Meanwhile, the dollar amount represents the $368,275.55 current dollar account and $635,796.32 time deposit of Bigfoot for its rental for lots at the South Road Properties, and the trust fund of Piso Mo, Hospital Ko amounting to $55,240.77.

“Dunay in peso nga P14,045,992,647.59. Unaudited and unreconciled kay it’s the accounting office that will have the final amount kay moagi man og bank reconciliation. Dunay dollar bank deposit nag total pod og $1,059,312.64 from the rental of Bigfoot and Piso Mo Hospital Ko account (There is money in peso at P14,045,992,647.59. This is unaudited and unreconciled since it’s the accounting office that will come up with the final amount after bank reconciliation. There is also a dollar deposit amounting to $1,059,312.64 from the rental fees of Bigfoot and Piso Mo Hospital Ko),” Rentuza told The FREEMAN.

Mayor Edgardo Labella said he will have Atty. Jerone Castillo, the new treasurer, verify the matter, especially that the city needs money to fund the first supplemental budget this year, as well as the remaining tranches of financial aid to senior citizens amounting to P455 million.

Rentuza said the city can use the general fund but the trust fund cannot be used unless dictated by the trustor or the one who gave the budget. The city also cannot use the SEF as it is covered by disbursement guidelines.

The city has P8.1 billion Annual Budget for this year.

In a separate development, Labella said the executive department is now preparing for the approval of Rentuza’s replacement by the Bureau of Local Government Finance (BLGF) since the position requires “trust and confidence” of the mayor. (FREEMAN)  

TOMAS OSMEñA
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