BACOLOD City – This city was recognized as among the National Top-Performing Cities in Strengthening Local Government Finance for 2023 by the Bureau of Local Government Finance (BLGF).
Mayor Alfredo Abelardo Benitez said the city ranked fifth with a 20.44 percent year-on-year growth in local source revenues in 2023.
This achievement marks the first time the city government has received such recognition from the BLGF, underscoring the city’s dedication to improving financial management and strengthening its local economy.
“This is the first time Bacolod City has received such recognition. It is a strong testament to our commitment to driving financial growth and sustainable development in our beloved city,” the mayor added.
Here is the complete list of the top 10 highly-urbanized cities recognized by the BLGF through Memorandum Circular 017-2024: Quezon City (30.02 percent), Makati City (26.02 percent), Pasay City (22.56 percent), Olongapo City (21.30 percent), Bacolod City (20.44 percent), Mandaluyong City (19.80 percent), Parañaque City (17.41 percent), Caloocan City (17.09 percent), Las Piñas City (15.88 percent), and Cebu City (15.26 percent).
Local source revenues consist of income generated internally by the city, which includes tax revenues from real property, businesses, and other local taxes, as well as non-tax receipts from fees and charges, government business operations, and miscellaneous income./PN
