Rizal Province directory, Volume I.

PUBLIC FINANCE
THE PROVINCE OF RIZAL is a "First Class B" province.
It has an income of P462,587.97 in 1933, excluding insular allotment of P177,992.00 for public works purposes. The total real
property tax collection in 1933 amounted to P566,674.71 as
against P615,728.19 in 1932, thereby showing a decrease of
P49,053.48. This decrease is attributed to the economic crisis
now prevailing almost everywhere. The outstanding land tax
delinquency at the end of the year 1933 was P330,835.32 compared with P237,463.43 as of December 31, 1932, or an increase
in delinquency in the amount of P93,371.89. Of this increase
in delinquency, P49,053.48 was due to decrease in collection and
P44,318.41 to increase in assessment of real properties in 1933.
With this disfavorable showing, the finances of the province of
Rizal should have suffered a great handicap and the different
activities would have been paralyzed. But, in spite of this, the
financial standing of the province still remains firm and stable
financially speaking. Unlike other provinces of the same category, the officials and employees of this province are fortunate
enough, not to suffer until this time from any cut in their pay.
This facts indicates that the finances of the province are in
highly sound condition. Our provincial general fund budget
for the current year has been balanced without difficulty. All
the statutory obligations and administrative expenses of imperative nature, election expenses not excluded, have all been
duly provided for in the said budget. The necessary transfer
to school and health funds was also included. And no overdraft is expected at the end of the current year.
The balance sheet as of December 31, 1933, is as follows:
BALANCE SHEET OF THE PROVINCE OF RIZAL
as of December 31, 1933
ASSETS
Cash in the Prov. Treasury............................. p7,684.28
Current Accts., Gov't. Depositories...................... 71,469.86
Time Deposits, Gov't. Depositories....................... 275,000.00
Advances to Disb. Officers.............................. 285.41
Supplies and materials................................. 6,431.57
Accounts Received....................................... 21,514.79
Deferred Charges (prepayment)......................... (35.36)
Loans to municipalities.................................. 44,040.00
Real Properties excluding accrued depreciation............ 3,731,820.68
Equipments excluding accrued deprecation................ 164,126.98
TOTALS.......................... P4,322,338.21
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