NIA Increases Revenue Collection for CY2013
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.