Budget 2017-18: RMC set to table Rs3.16b surplus budget
Budget expected to be approved in corporation meeting today
PHOTO: REUTERS
RAWALPINDI:
The Rawalpindi Municipal Corporation (RMC) has prepared a surplus annual budget worth Rs3.16 billion for the incoming fiscal year of 2017-2018.
The annual budget for the next fiscal year, along with an amended budget for the past six months from January to June 2017, is expected to be approved by the corporation at a meeting on June 30 (today).
Big on earnings
The RMC expects to earn Rs3.16 billion during the upcoming fiscal year, according to budget documents available with The Express Tribune.
This includes Rs286.2 million which the RMC had saved from the previous fiscal year. The remaining money is expected to be raised through different receipts, fees and taxes.
The RMC estimates that it will generate as much as Rs307.2 million through property tax. The tax is collected by the Department of Excise and Taxation Government of Punjab. The department, though, deducts 15 per cent of all tax money collected as collection charges.
The rest of the money is transferred to the relevant municipal authorities through the provincial finance department every two months.
The corporation has also estimated that it would raise Rs120 million through taxes on the transfer of movable properties. Further, the corporation estimates to collect Rs3.6 million in parking fees from across the city.
The RMC will also receive Rs29.28 million from the Punjab government under the Provincial Finance Fund.
The corporation is also expected to receive Rs825.5 million from the Punjab government as a grant. The massive grant, the RMC has outlined, would be primarily used to pay the salaries of RMC’s sanitation staff - now part of the Rawalpindi Waste Management Company.
Additional revenue, which the RMC hopes to generate during the upcoming fiscal year, include Rs30 million in fees for approving building plans, Rs20 million in commercialisation fees, Rs15 million from charges and fines imposed on violating building by-laws in the garrison city, Rs10.58 million from the slaughter house, Rs77.6 million in rent from RMC-owned shops, Rs12.54 million in rent from shops at the Pirwadhai General Bus Stand, Rs19.2 million in rent from a commercial plaza on Liaquat Road, and Rs3 million in rent collected from RMC shops at the Commercial Market.
Expenditures
As far as expenditures of the RMC are concerned, the corporation has set aside Rs3.038 billion for its expenses in FY 2017-18.
A major chunk of the funds, though, have been earmarked to pay the salaries and pensions of its staff.
The corporation has estimated that around Rs1.38 billion or around 45.42 per cent of the total expenses, would be used for non-development and current expenditures.
Of this, Rs878.66 million would be spent on paying salaries and pensions. The corporation has further set aside Rs500.045 million as contingency funds.
Development
The corporation would spend over Rs1.65 billion or 54.31 per cent of the expenses, on different development projects in the garrison city.
Of this, Rs574.3 million has been set aside for new development schemes, Rs85.6 million for on-going schemes, Rs500 million for programmes under the ADP, Rs30 million which would be spent on the direction of the chief minister, Rs20 million for the construction of a community hall in the Shaman Zar Colony in UC-45, Rs20 million for renovating Jinnah Hall, Rs10 million for constructing public toilets and check posts for anti-encroachment staff, Rs11 million for the repair and maintenance for different departments, and Rs378.131 million for general repair and maintenance – the money for which has been provided by the World Bank as a grant.
The closing balance of the RMC stands Rs122.19 million.
Published in The Express Tribune, June 30th, 2017.
The Rawalpindi Municipal Corporation (RMC) has prepared a surplus annual budget worth Rs3.16 billion for the incoming fiscal year of 2017-2018.
The annual budget for the next fiscal year, along with an amended budget for the past six months from January to June 2017, is expected to be approved by the corporation at a meeting on June 30 (today).
Big on earnings
The RMC expects to earn Rs3.16 billion during the upcoming fiscal year, according to budget documents available with The Express Tribune.
This includes Rs286.2 million which the RMC had saved from the previous fiscal year. The remaining money is expected to be raised through different receipts, fees and taxes.
The RMC estimates that it will generate as much as Rs307.2 million through property tax. The tax is collected by the Department of Excise and Taxation Government of Punjab. The department, though, deducts 15 per cent of all tax money collected as collection charges.
The rest of the money is transferred to the relevant municipal authorities through the provincial finance department every two months.
The corporation has also estimated that it would raise Rs120 million through taxes on the transfer of movable properties. Further, the corporation estimates to collect Rs3.6 million in parking fees from across the city.
The RMC will also receive Rs29.28 million from the Punjab government under the Provincial Finance Fund.
The corporation is also expected to receive Rs825.5 million from the Punjab government as a grant. The massive grant, the RMC has outlined, would be primarily used to pay the salaries of RMC’s sanitation staff - now part of the Rawalpindi Waste Management Company.
Additional revenue, which the RMC hopes to generate during the upcoming fiscal year, include Rs30 million in fees for approving building plans, Rs20 million in commercialisation fees, Rs15 million from charges and fines imposed on violating building by-laws in the garrison city, Rs10.58 million from the slaughter house, Rs77.6 million in rent from RMC-owned shops, Rs12.54 million in rent from shops at the Pirwadhai General Bus Stand, Rs19.2 million in rent from a commercial plaza on Liaquat Road, and Rs3 million in rent collected from RMC shops at the Commercial Market.
Expenditures
As far as expenditures of the RMC are concerned, the corporation has set aside Rs3.038 billion for its expenses in FY 2017-18.
A major chunk of the funds, though, have been earmarked to pay the salaries and pensions of its staff.
The corporation has estimated that around Rs1.38 billion or around 45.42 per cent of the total expenses, would be used for non-development and current expenditures.
Of this, Rs878.66 million would be spent on paying salaries and pensions. The corporation has further set aside Rs500.045 million as contingency funds.
Development
The corporation would spend over Rs1.65 billion or 54.31 per cent of the expenses, on different development projects in the garrison city.
Of this, Rs574.3 million has been set aside for new development schemes, Rs85.6 million for on-going schemes, Rs500 million for programmes under the ADP, Rs30 million which would be spent on the direction of the chief minister, Rs20 million for the construction of a community hall in the Shaman Zar Colony in UC-45, Rs20 million for renovating Jinnah Hall, Rs10 million for constructing public toilets and check posts for anti-encroachment staff, Rs11 million for the repair and maintenance for different departments, and Rs378.131 million for general repair and maintenance – the money for which has been provided by the World Bank as a grant.
The closing balance of the RMC stands Rs122.19 million.
Published in The Express Tribune, June 30th, 2017.