Cebu Province has been recognized as one of the country’s top-performing local governments in fiscal management, ranking second nationwide among all provinces in locally sourced revenues (LSR) for 2024.
The Bureau of Local Government Finance (BLGF) announced the ranking through Memorandum Circular 017-2025, released on October 1, which cited outstanding performance in local revenue generation, fiscal discipline, and transparency. The evaluation was based on each province’s 2023–2024 Statement of Receipts and Expenditures.
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Strong Fiscal Discipline, Consistent Growth
Cebu generated P3.01 billion in locally sourced revenues in 2024, trailing only Bulacan, which topped the list with P3.39 billion. Rounding out the top five were Rizal with P2.82 billion, Pampanga with P2.70 billion, and Quezon with P2.30 billion.
The province also placed fifth nationwide in the ratio of LSR to Total Current Operating Income (TCOI) at 36.25 percent—a measure of its fiscal independence from national funding. Cebu further ranked fifth in year-on-year growth, recording an 88.15 percent increase in local revenue collection compared to the previous year.
According to the BLGF, the rankings were determined based on four fiscal indicators: total LSR, LSR-to-TCOI ratio, LSR growth rate, and per-capita operating expenditure. The bureau emphasized that these benchmarks reflect how local governments are performing under the fiscal autonomy granted by the Local Government Code.
Cities and Municipalities Show Strong Revenue Gains
Cebu’s highly urbanized and component cities contributed significantly to its fiscal success. Lapu-Lapu City led all highly urbanized cities in revenue growth, with a 37.35 percent increase in 2024. Cebu City followed closely, ranking third nationwide with a 25.76 percent rise in local income, joining other top-performing cities such as Iloilo, Pasig, and Quezon City.
Cebu City also ranked tenth nationwide in total LSR, collecting P5.9 billion last year, putting it alongside major economic centers like Makati and Davao.
Toledo City, one of Cebu’s component cities, recorded an 18.78 percent rise in revenues, placing it among the top five nationwide for growth. Meanwhile, Consolacion ranked seventh nationwide among municipalities with P711.55 million in LSR and ninth in fiscal independence with a 61.19 percent LSR-to-TCOI ratio.
Bohol and Badian Among Fastest-Rising Localities
Among Cebu’s municipalities, Badian also stood out with a 106.42 percent increase in revenue, ranking ninth nationwide in growth. It joined other fast-developing towns such as Caoayan in Ilocos Sur and Kapalong in Davao del Norte.
The BLGF lauded Cebu’s consistency in strengthening local income sources, saying that fiscal performance “demonstrates effective governance and local innovation.” The agency further encouraged LGUs to continue sharing best practices and developing strategies to boost local revenue collection and fiscal discipline across regions.
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