Bacolod City ranked 5th among the National Top-Performing Cities in Strengthening Local Government Finance for Fiscal Year 2023.
“This recognition reflects our commitment to building a business-friendly city and driving growth in Bacolod,” Mayor Albee Benitez said.
“This recognition reflects our commitment to building a business-friendly city and driving growth in Bacolod.”
This recognition, bestowed by the Bureau of Local Government Finance (BLGF) through Memorandum Circular 017-2024 highlights Bacolod’s impressive 20.44% year-on-year growth in Local Source Revenues submitted quarterly.
“I am proud to share that Bacolod City has ranked 5th among the National Top-Performing Cities in Strengthening Local Government Finance for FY 2023, as recognized by the Bureau of Local Government Finance. We achieved a 20.44% year-on-year growth in Local Source Revenues in 2023,” Benitez said.
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.
The achievement underscoring the city’s dedication to improving financial management and strengthening its local economy.
“It is a strong testament to our commitment to driving financial growth and sustainable development in our beloved city.”
“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.
The Top 10 HUCs – Year-on-Year Growth in Local Source Revenues 2023 are as follows:
1. Quezon City (NCR) – 30.02%
2. Makati City (NCR) – 26.02%
3. Pasay City (NCR) – 22.56%
4. Olongapo City (Region II) – 21.30%
5. Bacolod City (Region VI) – 20.44%
6. Mandaluyong City (NCR) – 19.80%
7. Parañaque City (NCR) – 17.41%
8. Caloocan City (NCR) – 17.09%
9. Las Piñas City (NCR) – 15.88%
10. Cebu City (Region VII) – 15.26%
