Administrator: City is stable, not bankrupt

ANGELES CITY — The city is financially stable and is able to pay its debts, including the P1.3 billion incurred by the two previous administrations, a city executive said.
Lawyer Dennis Albert Pamintuan, City Administrator, debunked earlier reports and assured the public that the City Government is not bankrupt.
“The good news is, it will pay the bonuses of its employees on time this Christmas, unlike the previous administrations,” Pamintuan said.
According to him, as of August 2012, the City Government had a total of P143.59 million, of which only P36 million came from the internal revenue allotments (IRA).
Earlier, the camp of Congressman Carmelo Lazatin, who is vying for mayor against incumbent Mayor Edgardo Pamintuan, charged that the city coffers are empty, and that the city relies solely on IRA.

“We have not defaulted in any of our obligations, unlike during Lazatin’s time when the employees union had to walk out and strike to demand payment of their delayed benefits, and also during the term of Lazatin electricity at City Hall was cut because of unpaid power bills,” Pamintuan said.
It was reported that when the employees union, Agenda, staged a strike to press for unpaid benefits, the mayor was allegedly gambling in a casino.
Pamintuan enumerated the following:
* All infrastructure projects like barangay halls are done in phases, and all have appropriations until next year. The city allots P60 million yearly for infrastructure, which is why projects can only be done in phases.
* All local government units also rely on the IRA, including the administrations of Lazatin and Nepomuceno. That is why a lot of city LGUs protested the creation of new cities, effectively reducing their IRA allotments. The current administration relies on the IRA for less than 40 percent of its budget, while more than 60 percent comes from internally generated revenues.
* Lazatin and Nepomuceno resorted to borrowings to cover up for the deficits. Lazatin borrowed P330 million and Nepomuceno’s loans were up to P1 billion. The Pamintuan administration is paying for these loans until now. The current administration has so far not resorted to borrowing, which is a sign of good fiscal management.
* The Pamintuan administration has paid up for other obligations incurred by the two administrations, including unpaid power and garbage bills amounting to P21 million and P63 million respectively. It also paid about P50 million to suppliers and contractors of the past administrations.
* We were able to fully implement Phases 1 to 3 of the mandated 2010-2013 Salary Standardization Part 3 and we will implement Phase 4 next year. This increased the city’s budget for personal expenditures by more than P100 million. Also, we paid for the collective negotiation agreement (CAN) bonus of the employees for two consecutive years in 2010 and 2011.
* Also, we increased the Special Education Fund from P50 million to P55 million annually, and we even approved a Supplemental Budget amounting to P11 million.
“The point is, despite all the financial problems left by past administrations, our finances are still stable. As I said, we will be able to pay the Christmas bonuses and other benefits of our employees on time,” he said.
City Treasurer Juliet Quinsaat also assured the stability of the city’s financial position.
“There are no adverse findings of the Commission on Audit (on the city’s finances),” Quinsaat said.
“This is the nth time we responded to this issue. However, it seems the political opponents of the current administration keeps on pounding on this issue, probably for lack of anything to say,” Pamintuan said.
Best Restaurant in Clark Pampanga unveils regional dinner menu featuring the classic cuisine of Italy, all designed to pair nicely with fine vintage wines from Italy’s wine regions such as Tuscany, Piedmont, Veneto and Sicily, one more reasons for food and wine lovers to travel to Angeles City, Clark Philippines to satisfy their thirst for a wonderful meal at a fine dining restaurant, the best place to eat in Pampanga.

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Getting to this fine dining restaurant of Angeles City Clark Freeport Zone Pampanga Philippines
How to get to this fine-dining restaurant in Clark Pampanga? Once you get to Clark Freeport, go straight until you hit Mimosa. After you enter Mimosa, stay on the left on Mimosa Drive, go past the Holiday Inn and Yats Restaurant (green top, independent 1-storey structure) is on your left. Just past the Yats Restaurant is the London Pub.

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