Cebu second nationwide in terms local source revenue

CEBU, Philippines — Cebu Province has stood out as one of the country’s top-performing local governments in fiscal management, ranking second nationwide among all provinces in Local Source Revenues (LSR) for 2024, according to the Bureau of Local Government Finance (BLGF).

In its Memorandum Circular No. 017-2025 issued on October 1, 2025, the BLGF named outstanding provinces, cities, and municipalities that demonstrated excellence in revenue generation and fiscal discipline based on the 2023–2024 Statement of Receipts and Expenditures.

Cebu generated ?3.01 billion in locally-sourced revenues last year, trailing only Bulacan, which topped the list with ?3.39 billion.

The province outperformed other large economies such as Rizal (?2.82 billion), Pampanga (?2.70 billion), and Quezon (?2.30 billion).

Aside from its revenue size, Cebu also placed fifth nationwide in the ratio of Local Source Revenues to Total Current Operating Income (TCOI) at 36.25%. This is an indicator that measures the degree of fiscal independence from external funding sources such as the National Tax Allotment.

The province likewise ranked fifth in year-on-year growth in LSR, posting an 88.15% jump from the previous year. Only Samar, Siquijor, Catanduanes, and neighboring Bohol recorded higher growth rates.

At the city level, Cebu’s highly-urbanized centers also recorded impressive fiscal outcomes. Lapu-Lapu City led all highly-urbanized cities nationwide in revenue growth, posting a remarkable 37.35% increase in 2024.

Cebu City followed closely in third place with 25.76% growth, joining Iloilo City and other major urban hubs like Pasig, Taguig, and Quezon City in the top 10.

Cebu City also ranked 10th nationwide in total Local Source Revenues, generating ?5.9 billion in 2024 alongside some of the country’s largest and wealthiest cities including Quezon City, Makati, and Davao.

Among component and independent cities, Toledo City made its mark as one of the top five in year-on-year growth, with an 18.78% increase in locally-sourced income.

In the municipal category, the first-class municipality of Consolacion also placed prominently in several indicators.

It ranked seventh nationwide in total Local Source Revenues with ?711.55 million, ninth in the LSR-to-TCOI ratio at 61.19%, and fifth in growth rate at 158.73%.

Another Cebu municipality, Badian, joined the top performers with a 106.42% growth in LSR --placing it ninth nationwide. It stood among fast-rising localities such as Caoayan in Ilocos Sur, Kapalong in Davao del Norte, and San Felipe in Zambales.

The BLGF explained that the recognition was anchored on four fiscal indicators: local source revenues, ratio of LSR to TCOI, year-on-year growth in LSR, and total current operating expenditures per capita.

To qualify, provinces and municipalities were required to maintain at least a twenty-percent LSR-to-National Tax Allotment ratio, while cities needed to achieve at least 80%.

All LGUs also had to maintain a sixty-percent expenditure ratio to ensure fiscal responsibility.

Data validation and ranking were conducted by the BLGF’s Local Financial Data Analysis Division in coordination with regional offices, ensuring accuracy and consistency across all submissions.

The bureau urged regional and local officials to share best practices in fiscal management and strengthen local revenue collection strategies aligned with the Local Government Code. — (FREEMAN)