October 18, 2022
MANILA — Quezon City retained its title as the country’s wealthiest local government in 2021.
According to the annual financial report released by the Commission on Audit (COA), the city reported total assets of P451 billion, which is a billion less than P452 billion in 2020.
Quezon City posted the highest assets among provincial and city governments this year.
Makati City, on the other hand, also remained in the second spot with a total asset of P239 billion. The city had a three-year streak of being the richest local government from 2017 to 2019 until it was dethroned by Quezon City in 2020.After Quezon City and Makati City, the eight other wealthiest cities for 2021 were Manila (P65.3 billion), Pasig City (P51.2 billion), Taguig City (P36.1 billion), Cebu City (P33.3 billion), Mandaue City (P33 billion), Mandaluyong City (P31.4 billion), Davao City (P26.6 billion) and Caloocan City (P23.4 billion).
As for provincial local governments, Cebu City led with P215 billion, followed by Rizal (P30.6 billion), Batangas (P29.7 billion), Davao de Oro (P23.2 billion), Bukidnon (P19.5 billion), Negros Occidental (P18 billion), Ilocos Sur (P17.9 billion), Iloilo (P17.4 billion), Isabela (P16.4 billion) and Palawan (P16.1 billion).
Aside from retaining the top spot as richest local government, Quezon City also received a second “unqualified opinion” from the commission for 2021.
According to the COA, the “unqualified opinion” is given to local governments that have fulfilled the financial statements and material requirements in accordance with the applicable financial reporting framework.
To show her appreciation, Quezon City Mayor Joy Belmonte gave city government employees a P10,000 incentive each on Oct. 9.
“This bonus is a recognition of our local government and our Quezon City Council, under the leadership of presiding officer and Vice Mayor Gian Sotto, of our people’s diligence in helping us achieve the distinction from the Commission on Audit,” said Belmonte.
The incentive covers all city hall employees, including job orders and contractual employees.