In its Consolidated Yearend Report, the National Irrigation Administration (NIA) under the leadership of Administrator Claro V. Maranan reports that it generated a total revenue of P4.0453 billion in CY 2013, an increase of P492 million compared to P3.5535 billion in CY 2012.
Based on the Financial Performance Report from the Deputy Administrator for Administrative and Finance Lorna Grace B. Rosario dated March 20, 2014, the significant increase in revenue by the Agency was credited to the improved collection of Irrigation Service Fees (ISF) of P204 million (P1.4456 billion in CY 2012 to P1.6478 billion in CY 2013); decrease in 10% discount on ISF of P2 million and increase in loss on sale of palay P.122 million; increase of P197 million in Subsidy income from the National Government, specifically in 5% Management Fee (P984.36 million CY 2012 and P1.187 billion in CY 2013 less decrees of P5.5 million in Management Fee.
Other factors were the increase of P12 million for CIP/CIS/Pump Amortization and Equity; increase of P75 million in Water Fees and Energy Delivery Fees; increase of P12 million in Rent Income and Penalties; increase of P7 million in Miscellaneous and other fines and penalties and decrease in interest income of P15 million.
The increase was also due to the Agency's on-going effort to attain financial viability through the dedication and perseverance of regional directors, project and irrigation managers and all NIA officials and employees who worked hard towards attaining targets, collection and remittance of irrigation fees.
The expected dividend to be remitted to the Bureau of Treasury is P17,010,429.66. The final amount of dividend is computed based on the Audited Income Statement as prescribed under the Revised Implementing Rules and Regulations of Republic Act 7656, An Act Requiring Government-Owned and Controlled Corporations (GOCCs) to Declare Dividends to the National Government. The last time the NIA was able to remit dividends was in 2009.
Administrator Maranan thanked all those who have worked hard to make this possible and called on all NIAns to keep up the good work to ensure a better future for the Agency.
