Negros Occidental is the top performing province in the country in strengthening local government finance for fiscal years 2022 and 2023, the Department of Finance announced.
A memorandum from the DOF’s Bureau of Local Government Finance showed Negros Occidental as the top province in growth of local sourced revenues by 163.66 percent.
The growth in local government finance is measured through the local source revenues (LSR) in nominal terms and its ratio to the total current operating income (TCOI), year-on-year growth in LSR, and total current operating expenditures (TCOE) per capita.
Negros Occidental is followed by Camarines Sur with 126.72 percent, North Cotabato – 74.34 percent, Nueva Vizcaya – 68.20 percent, Misamis Occidental – 66.49 percent, Zambales – 56.89 percent, Palawan – 52.73 percent, Nueva Ecija – 51.85 percent, Sorsogon – 37.95 percent, and Davao Oriental – 34.17 percent.
Bacolod City ranked fifth among the highly-urbanized cities in the country with a 20.44 percent growth.
The BLGF memorandum said that the data used were based on the statement of receipts and expenditures reports submitted by the local treasurers and were evaluated by the bureau’s Local Financial Data Analysis Division.*