BALAMBAN IS CEBU’S RICH­EST TOWN: COA

None of Cebu’s 44 mu­nic­i­pal­i­ties made it to the top 10 list of to­tal as­sets, li­a­bil­i­ties and net worth Balamban’s to­tal net worth of P853.93 mil­lion pales in com­par­i­son to Cainta, Rizal’s net worth of P2.19 bil­lion In terms of li­a­bil­i­ties, Con­so­la­cion is

Sun.Star Cebu - - TOP STORIES - RONA T. FER­NAN­DEZ / Re­porter @rjt­fer­nan­dez

With a to­tal net worth of P853.93 mil­lion, Balamban is the num­ber one out of 44 mu­nic­i­pal­i­ties in Cebu in terms of eq­uity.

Balamban’s to­tal net worth, how­ever, is P1.34 bil­lion less than that of Cainta, Rizal, the rich­est mu­nic­i­pal­ity in the coun­try in terms of net worth with P2.19 bil­lion, ac­cord­ing to the Com­mis­sion on Au­dit (COA).

In its 2017 an­nual fi­nan­cial re­port, the COA clas­si­fied provinces, cities and mu­nic­i­pal­i­ties with the high­est to­tal as­sets, li­a­bil­i­ties and net worth.

Un­like Cebu Prov­ince and Cebu City, which earned a spot in their re­spec­tive cat­e­gories, none of the 44 towns in Cebu made it to the list of top 10 mu­nic­i­pal­i­ties in terms of as­sets, li­a­bil­i­ties and net worth.

Based on the fi­nan­cial pro­file of mu­nic­i­pal­i­ties for cal­en­dar year 2017, the 44 towns in Cebu have P15.74 bil­lion in as­sets, P4.6 bil­lion in li­a­bil­i­ties and a net worth of P11.13 bil­lion.

Fol­low­ing Balamban in the list of Cebu mu­nic­i­pal­i­ties with the high­est net worth is Minglanilla (P811.98 mil­lion) and Con­so­la­cion (P724.32 mil­lion).

Other towns in­clude Os­lob (P513.32 mil­lion), Liloan (P434.84 mil­lion), San Fer­nando (P383.48 mil­lion), Car­men (P381.58 mil­lion), Pi­na­munga­jan (P356.47 mil­lion), Daan­ban­tayan (P355.79 mil­lion) and Si­bonga (P334.5 mil­lion).

In terms of as­sets, Con­so­la­cion ranked first with P1.1 bil- lion, fol­lowed by Balamban with P1.09 bil­lion and Minglanilla with P1.07 bil­lion.

Fourth on the list is Liloan with P750.88 mil­lion fol­lowed by Os­lob with P586.41 mil­lion, Tubu­ran with P499.62 mil­lion, San Fer­nando with P481.77 mil­lion, Pi­na­munga­jan with P478.47 mil­lion, Car­men with P476.85 mil­lion, and Daan­ban­tayan with P450.82 mil­lion.

In terms of li­a­bil­i­ties, Con­so­la­cion is also at the top with P374.6 mil­lion, fol­lowed by Liloan with P316.03 mil­lion and Minglanilla with P255.85 mil­lion.

Other towns with the high­est li­a­bil­i­ties in­clude Balamban (P232.2 mil­lion), Tubu­ran (P182.66 mil­lion), Dalaguete (P159.16 mil­lion), Madride­jos (P138.62 mil­lion), Medellin (P137.05 mil­lion), Bar­ili (P134.08 mil­lion) and Du­man­jug (129.85 mil­lion).

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