Negros Occ has highest income among Philippine provinces
BACOLOD CITY, Philippines — Negros Occidental has the highest income among all the provinces in the country, according to the report of the Commission on Audit.
The 2014 annual financial report showed that Negros Occidental was the top province to post the highest income of P3.332 billion, followed by Bulacan with P3.256 billion.
Other provinces with high income are: Cebu with P2.768 billion; Cavite (P2.757 billion); Pangasinan (P2.753 billion); Rizal (P2.741 billion); Laguna (P2.687 billion); Nueva Ecija (P2.599 billion); Batangas (P2.589 billion); and Quezon (P2.393 billion).
Among cities, Quezon ranked first with P13.88 billion followed by Makati (P11.828 billion), and Manila (P10.966 billion).
According to the COA report, the local government units were ranked based on its income for the year, which comprised the total operating income, subsidies from other national government agencies or local government units, or funds and extraordinary items.
Negros Occidental also ranked first among the provinces nationwide in terms of expenditures, with P2.783 million, followed by Bulacan (P2.321 million); Laguna (P2.257 million); Cebu (P2.116 million); Pangasinan (P2.058 million); Cavite (P2.049 million); and Capiz (P2.047 million).
Based on equity, Cebu is the richest province in the country with P28.181 billion, followed by Rizal (P6.715 billion), Cavite (4.918 billion), and Negros Occidental (4.741 billion).
Equity is the difference between the amount of assets and liabilities of LGUs, according to COA, adding that Dinagat Islands in Mindanao is the poorest province with only P281.293 million under this category. — Marchel P. Espina (FREEMAN)
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