MANDAUE CITY—The Department of Finance's Bureau of Local Government Finance (BLGF) will recognize Mandaue City as the second highest in year-on-year growth in locally sourced income for fiscal year 2022 among all highly urbanized cities in the country.
BLGF Executive Director Consolacion Q. Agcaoili, in a letter dated 23 August 2024, invited Mayor Jonas Cortes and City Treasurer Atty. Regal Oliva to receive the award on 9 October in Metro Manila. The award ceremony is part of the BLGF’s 37th anniversary celebration.
Atty. Oliva highlighted that the recognition reflects the city's growing financial independence. "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 said.
In 2022, Mandaue generated 75% of its P3.3 billion total revenue locally, with only 30% or P1.1 billion coming from the national tax allotment (NTA). Oliva pointed out that increased development in the city has driven higher tax revenues, which translates to more employment and economic activity.
Mayor Cortes praised the efforts of his administration and the trust of the people, saying, "We are not just building a better today—we are laying the foundation for an even stronger tomorrow."
Mandaue City has been consistently recognized for its business-friendly policies, including streamlined tax payment processes and online platforms, which have contributed to its economic growth.