Cavite town now debt-free

NOVELETA, Cavite – The local government here led by mayor Dino Reyes Chua announced recently that the locality is now a debt-free LGU for 2019.

Maria Lynda Colina, Noveleta municipal treasurer, said a total of P3,525,765.85 in loans, plus P128,038.42 in interest for a total of P3,653,804.27 was incurred under the previous administration which Mayor Chua’s administration fully paid as of September 2017.

The office of the municipal accountant also certified that the Noveleta local government unit (LGU) has no outstanding loan to any lending or financial institution as of first quarter of the year 2019.

According to the transaction slip of the LGU, Noveleta has P4,810,552.91 Special Education Funds in bank and P24,666,330.67 general funds and P13,256,566.05 in trust fund or a total of P42,733,449.63 certified by the 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 and proclaimed municipal mayor for 2nd term during the May 13, midterm election.

Under his leadership, the locality was awarded as top performing LGU in health governance in Calabarzon. It is also one of the Top 5 Performing LGUs in anti-drugs programs.

The Department of Trade and Industry (DTI) recently named Noveleta as the top LGU with the most number of businesses in the province.

Noveleta under Mayor Chua garnered 97.71 grade for the Performance Profile based on the Peace and Order Council Performance Audit release by Department of Interior and Local Government last May.