CBO nets P33M in Q1-A A +A
Monday, June 30, 2014
THE City Building Office (CBO) registered a total of P33.142 million in revenue collection during the first quarter of 2014, up by 9.5 percent as compared to the same period last year with P29.98 million.
Based on the data released by CBO, the collection is already more than half of its target for this year at P71.5 million.
The office, posting with high revenues, rounded off the first quarter with a collection efficiency of 46.35 percent.
The bulk of the revenues was recorded in January 2014 with P16.32 million, then P12.974 million in February, and P3.844 million in March.
The surge in revenues was brought about by a steady stream of big ticket real estate investments in Davao City.
The CBO is yet to release the collections for the first half of the year.
In 2013, CBO posted a total of P73.9 million in collected revenues, surpassing its target of P65 million.
The agency ended the year 2013 with a high collection efficiency of 113.65 percent.
The agency's sources of revenues are from certification fees; signage and sign support fees; building permit; electrical permit; plumbing permit; mechanical permit; electronic fee; and annual inspection fee.
Published in the Sun.Star Davao newspaper on June 30, 2014.