Bohol excels in fund management

Bohol copped the 25th slot among 79 provinces in handling its finances for Fiscal Year 2005.

The Commission on Audit (COA) published the financial reports of the 79 provinces and 117 cities as well as those of the municipalities in the National Capital Region, Region 1, Cordillera Administrative Region and Region 2 in the Wednesday, Aug. 23 issue of The Philippine Star.

In Region 7, Cebu, Bohol and Oriental Negros are 1st Class provinces while Siquijor is a 4th Class province.

The balance sheet showed that Bohol has total assets of P1,228,853,000, total liabilities of P191,692,000 and total equity of P1,037,161,000. This means the province has a total income of P656,094,000 that clinched for it the 25th rank out of 79 provinces where total income is concerned.

Regionwide, Bohol ranks No. 3 income-wise.

Of this income, Bohol spent P492,267,000 claiming the 26th slot where expenses are concerned, making it the 3rd fastest spender in Region 7, next to Cebu and Oriental Negros, in that order.

After expenses, Bohol's net income stood at P163,827,000 landing it on the 18th of 79 provinces in handling its finances and second best after Cebu in the region ? landing a better mark than Oriental Negros this time.

All told, the percentage of Bohol's net income to its total income landed it the 25th slot. Cebu landed 16th, Oriental Negros 21st and Siquijor 27th.

Approximating Bohol's total income in Region 6 is Capiz with P514,746,000. However, it spent P425,239,000, hence it netted only P89,507,000 and landed 34/79. A 1st Class province, Capiz is 2/6 regionwide.

In Region 8, top-ranking Leyte topped Bohol at P839,241,000 in total income, but it spent P677,391,000 and netted P161,850,000 in the process. It landed 19/79 and 1st of 6 provinces regionwide.

Meanwhile, Tagbilaran, a 3rd Class city, had a total income of P279,549,000, the 6th of 12 cities in Region 7. It spent P247,697,000 or 76/117 and still 6/12 regionwide. As such, it netted P31,852,000 or 94/117 or 10/12 regionwide. Its net income is 11 percent of its total income. (BT)