Cebu’s local governments have earned top marks in fiscal performance for 2024, joining the country’s most financially dynamic local government units (LGUs), according to the Bureau of Local Government Finance (BLGF).
In Memorandum Circular No. 017-2025 issued on October 1, 2025, the BLGF recognized outstanding provinces, cities, and municipalities for excellence in local revenue generation and fiscal management.
The recognition was based on four indicators, including Local Source Revenues (LSR), Ratio of LSR to Total Current Operating Income (TCOI), Year-on-Year Growth in LSR, and Total Current Operating Expenditures (TCOE) per Capita.
Strong provincial performance
Cebu Province ranked second nationwide among all provinces in Local Source Revenues, generating P3.01 billion in 2024, trailing only Bulacan with P3.39 billion.
The rest of the top five were Rizal (P2.82 billion), Pampanga (P2.70 billion), and Quezon (P2.30 billion).
Cebu also placed fifth nationwide in the Ratio of Local Source Revenues to Total Current Operating Income (TCOI) with 36.25 percent, showing strong reliance on locally generated income.
In the Year-on-Year Growth in Local Source Revenues, Cebu ranked fifth among provinces with an 88.15 percent increase, following Samar (110.08 percent), Siquijor (101.15 percent), Catanduanes (99.35 percent), and Bohol (97.40 percent).
Top-performing highly urbanized cities
Two of Cebu’s highly urbanized cities led the country in revenue growth.
Lapu-Lapu City topped all highly urbanized cities nationwide, posting a 37.35 percent increase in Year-on-Year Growth in Local Source Revenues.
Cebu City followed in third place with 25.76 percent growth, joining Iloilo City in second place and major urban centers such as Pasig, Baguio, Angeles, Taguig, San Juan, Quezon City, and Manila in the top 10.
Cebu City also ranked 10th nationwide in total Local Source Revenues, collecting P5.9 billion in 2024.
It stood alongside the country’s largest revenue-generating cities including Quezon City, Makati, Taguig, Pasig, Manila, Parañaque, Pasay, Davao, and Mandaluyong.
Rising component and municipal governments
Among component and independent cities, Toledo City ranked fourth nationwide in Year-on-Year Growth, with an 18.78 percent increase in locally sourced revenues, placing it beside cities such as Tagaytay, Lipa, San Pedro, Santa Rosa, and Naga.
In the municipal category, Consolacion stood out as one of the country’s strongest performers. It ranked seventh nationwide in Local Source Revenues with P711.55 million, ninth in the Ratio of LSR to TCOI at 61.19 percent, and fifth in Year-on-Year Growth with a 158.73 percent increase from 2023 to 2024.
Another Cebu municipality, Badian, also made the national list, placing ninth in the growth category with 106.42 percent, joining other fast-growing towns such as Caoayan (Ilocos Sur), Kapalong (Davao del Norte), and San Felipe (Zambales).
Basis of recognition
The BLGF based the rankings on the 2023 and 2024 Statement of Receipts and Expenditures (SRE) submitted by local treasurers in accordance with Department of Finance Order No. 8-2011.
The Local Financial Data Analysis Division (LFDAD) processed and verified the data with the assistance of BLGF regional offices.
To qualify, provinces and municipalities needed a minimum ratio of 20 percent LSR to National Tax Allotment (NTA), while cities required 80 percent.
All LGUs were also required to maintain a 60 percent ratio of Total Current Operating Expenditures (TCOE) to Total Current Operating Income (TCOI) to ensure fiscal discipline.
Cebu’s fiscal strength
The BLGF instructed its regional and central offices to circulate the list to encourage best practices in local revenue generation.
The bureau also emphasized that LGUs should align their fiscal policies with the Local Government Code and other relevant financial rules.
With Cebu Province, Lapu-Lapu City, Cebu City, Toledo City, Consolacion, and Badian all securing places in the national rankings, Cebu demonstrated consistent fiscal performance across all levels of local governance.
Alongside Bohol and other high-performing provinces such as Bulacan, Pampanga, Rizal, and Quezon, Cebu solidified its reputation as one of the country’s most fiscally resilient areas in 2024.
