Quezon City is still the country’s wealthiest city in terms of assets, while Cebu remained on top as the richest province.
A 2021 report by the Commission on Audit (COA) indicated that Metro Manila’s largest and most populous city has assets totaling P451.007 billion.
On the other hand, Cebu has P215.27 billion total assets.
The COA report also showed that the municipality of Carmona, Cavite is also the country’s wealthiest town with P6.211 billion worth of assets.
The report covers financial statements of 1,676 or 97.7 percent of the 1,715 local government units in the Philippines, consisting of 81 provinces, 1,488 municipalities, 22,680 barangays and the Bangsamoro government composed of 21 ministries and offices.
Here is the ranking of the local government units (LGUs) in terms of assets as prepared by the COA:
Quezon City: P451.007 billion
Makati: P238.561 billion
Manila: P65.252 billion
Pasig City: P51.176 billion
Taguig: P36.116 billion
Cebu City: P33.343 billion
Mandaue: P33.006 billion
Mandaluyong P31.44 billion
Davao City: P26.555 billion
Caloocan: P23.383 billion
Cebu: P215.27 billion
Rizal: P30.637 billion
Batangas: P29.705 billion
Davao de Oro: P23.211 billion
Bukidnon: P19.455 billion
Negros Occidental: P10.025 billion
Ilocos Sur: P17.907 billion
Iloilo: P17.399 billion
Isabela: P16.419 billion
Palawan: P16.108 billion
Carmona, Cavite: P6.211 billion
Limay, Bataan: P4.794 billion
Silang, Cavite: P3.738 billion
Cainta, Rizal: P3.393 billion
Taytay, Rizal: P3.274 billion
Binangonan, Rizal: P3.141 billion
Caluya, Antique: P3.11 billion
Sta. Maria, Ilocos Sur: P3.044 billion
Cabugao, Ilocos Sur: P2.966 billion
Rodriguez, Rizal: P2.915 billion
Limay, Bataan was the wealthiest municipality in 2020, with total assets worth P4.463 billion while Carmona, Cavite took a quantum leap from 8th place with total assets amounting to P2.471 billion.
The annual financial report for LGUs was submitted by COA officer-in-charge Roland Pondoc to the offices of President Ferdinand Marcos, Jr., Senate President Juan Miguel Zubiri and Speaker Ferdinand Martin Romualdez on September 29.