Mandaue ranks 2nd in fiscal independence

The Bureau of Local Government Finance (BLGF) will award Mandaue City with the second Highest Year-on-year Growth in Local Sourced Income for FY 2022 among all highly urbanized cities in the country.

BLGF executive director Consolacion Q. Agcaoili in her letter addressed to City Mayor Jonas Cortes dated 23 August 2024 invited Cortes and City Treasure Atty Regal Oliva to receive the award on 9 October in Metro Manila.

“On this note, may we invite you together with your City Treasurer, Atty. Regal M. Oliva, for the ‘Awarding of National Top-Performing Provinces, Cities, and Municipalities in Strengthening Local Government Finance for FYs 2022 and 2023,’ as part of the BLGF 37th Anniversary,” Agcaoili said.

Oliva told reporters that the recognition shows the city’s growing financial autonomy.

“We are no longer dependent on the national government for funding. Mandaue has moved into an independent city when it comes to tax collection,” Oliva stressed.

Citing 75 percent of Mandarin City’s total revenue, amounting to P3.3 billion in 2022 was generated locally, with only P1.1 billion, or 30 percent from the national tax allotment.

“The more development Mandaue is experiencing, the more taxes we gain from it, and if more taxes we gain, it means the more employment and economic activities happen in Mandaue City,” Oliva added.