QUEZON City remains firmly in place as the country’s wealthiest local government unit with total assets of P451.007 billion in 2021 despite a P1 billion decrease from P452.333 billion declared in 2020.
Makati City, which last held the top spot in 2019, came in second with reported assets totaling P238.562 billion, only a shade higher than the year before at P238.465 billion.
At third place is Cebu province, which increased its assets in 2021 by a couple of billions to P215.27 billion from P213 billion the previous year.
The figures were contained in the 2021 Annual Financial Report (AFR) on LGUs released by the Commission on Audit last October 10.
The 215-page report covered the financial statements of 1,676 LGUs, including 81 provinces, 146 cities, 1,488 municipalities, 22,680 barangays and the Bangsamoro Government.
According to COA, there was a 97.7 percent compliance by the country’s 1,715 LGUs in submitting their financial statements for audit.
Just like in 2020, only Quezon City, Makati City, and Cebu Province are the members of the hundred billion club among local governments.
Pasig City stood in fourth with P51.176 billion, followed by Taguig City, P36.117 billion; Cebu City, P33.343 billion; Mandaue City, P33.007 billion; Mandaluyong City, P31.440 billion; Davao City, P26.556 billion; and Caloocan City, P23.383 billion.
The top four cities retained their places in the rankings but Taguig leapfrogged past Cebu and Mandaue to capture fifth spot.
Mandaluyong, which was not in the top 10 in 2020 barged in to grab 8th place, dropping Caloocan to the bottom and booting Zamboanga City out of the 2021 list.
Cebu emerged as the richest province with P215.27 billion, followed by Rizal, P30.638 billion; Batangas, P29.705 billion; Davao de Oro, P23.211 billion; Bukidnon, P19.455 billion; Negros Occidental, P18.025 billion; Ilocos Sur, P17.907 billion; Iloilo, P17.399 billion; Isabela, P16.419 billion; and Palawan, P16.109 billion.
Rizal’s declared assets ballooned by over P7 billion from P23.053 billion in 2020, catapulting it past Batangas to land just behind Cebu in the rankings.
Davao de Oro, Bukidnon, and Negros Occidental did not move but newcomer Ilocos Sur clambered over three other provinces to capture 7th spot in the list.
Iloilo’s assets grew P2.5 billion, enough to move from dead last in 2020 to 8th place, dropping Isabela two rungs from No. 7 to No. 9.
Palawan, at 9th spot in 2020, settled for the last place in the 2021 list.
Carmona, Cavite emerged as the wealthiest municipality with P6.212 billion, followed by Limay, Bataan, P4.795 billion; Silang, Cavite, P3.738 billion; Cainta, Rizal, P3.393 billion; Taytay, Rizal, P3.274 billion; Binangonan, Rizal, P3.141 billion; Caluya, Antique, P3.117 billion; Sta. Maria, Ilocos Sur, P3.044 billion; Cabugao, Ilocos Sur, P2.967 billion; Rodriguez, Rizal, P2.915 billion.
Carmona was the major mover in the last list, climbing from 7th spot in 2020 to the top municipality, powered by a P3.74 billion increase in assets.
Mariveles in Bataan and Sual in Pangasinan were booted out by newcomers Sta. Maria and Cabugao, both from Ilocos Sur.
Caluya remains the only municipality in the list that was not in Luzon.
