The Commission on Audit (COA), in its recent financial report, revealed the wealthiest municipalities in the province of Cebu based on assets and equity, with at least P1 billion in assets and equity or net assets.

COA identified the top five wealthiest towns in Cebu for 2023.

Topping the list is Consolacion, a northern town, with P2.2 billion in assets and P1.6 billion in equity. It is followed by Minglanilla in the south, with assets of P2.1 billion and equity of P1.5 billion. Next is Balamban in the west, with P1.7 billion in assets and P1.4 billion in equity. Consolacion, Minglanilla, and Balamban are all first-class towns.

Fourth in rank is Tuburan in the west, with P1.6 billion in assets and P1.1 billion in equity. The fifth is Oslob, a southern town famous for whale shark-watching, with P1.2 billion in assets and P1 billion in equity.

The 15 other towns in Cebu declared as the richest were:
6. Pinamungajan (P985,636,000);
7. San Fernando (P942,035,000);
8. Liloan (P886,595,000);
9. Carmen (P832,983,000);
10. Dalaguete (P799,373,000);
11. Daanbantayan (P762,168,000);
12. Dumanjug (P688,557,000);
13. San Remigio (P670,529,000);
14. Carmen (P656,468,000);
15. Badian (P609,173,000);
16. Argao (P595,172,000);
17. Compostela (P574,952,000);
18. Bantayan (P546,738,000);
19. Medellin (P530,776,000);
20. Tabuelan (P483,787,000).

In terms of equity, the rankings are:
6. Liloan;
7. Pinamungajan;
8. Dumanjug;
9. Dalaguete;
10. San Fernando;
11. Argao;
12. Carmen;
13. San Francisco;
14. Daanbantayan;
15. San Remigio;
16. Badian;
17. Compostela;
18. Bantayan;
19. Catmon;
20. Poro.

There are 44 municipalities in Cebu province.