NOVELETA, Cavite — The local government led by Mayor Dino Reyes Chua has announced that the town has been named the debt-free LGU of Cavite for 2019.
Maria Lynda Colina, Noveleta municipal treasurer, said P3,525,765.85 in loans, plus P128,038.42 in interest in a total of P3,653,804.27 was incurred under the previous administration which Reyes Chua’s administration fully paid as of September 2017.
The Office of Municipal Accountant also certified that the Noveleta local government has no outstanding loan to any lending or financial institution as of the first quarter of 2019.
According to the transaction slip of the LGU, Noveleta has P4,810,552.91 Special Education Funds in the bank and P24,666,330.67 General Funds and P13,256,566.05 on a trust fund or a total of P42,733,449.63 certified by Land Bank of the Philippines.
“We want a clean slate for 2019 and we are happy to announce that Noveleta is now a ‘debt-free municipality,” Chua said.
Chua was re-elected for a second term during last May’s elections together with Vice Mayor-elect Arlyn Torres and re-elected Councilors Kate Bernal, Elvie Magat, Boy Alvarez, Kon Kon Alvarez, Councilor-elect Former ABC Emelito Lontoc, Dave Manalo, Edwin Salud, and Ronel Lamit.
Under his leadership, the locality was named the top performing LGU in health governance in Calabarzon (Cavite-Laguna-Bataan-Rizal-