BACOLOD CITY – Negros Occidental topped the ranking in terms of growth in local source revenues among all the provinces in the country in 2023, based on the list released by the Department of Finance-Bureau of Local Government Finance (DOF-BLGF).
“We have been recognized. It’s even more a challenge for us to be able to continuously increase our local source of funds,” Governor Eugenio Jose Lacson said in an interview on Wednesday.
Based on the year-on-year growth in local source revenues, Negros Occidental recorded the highest ratio of 163.66 percent for fiscal year 2023.
The recognition of nationally ranked top-performing local government units in strengthening local government finance for fiscal years 2022 and 2023 was in BLGF Memorandum Circular 017-202, dated Aug. 19.
Trailing behind Negros Occidental are Camarines Sur, North Cotabato, Nueva Viscaya, Misamis Occidental, Zambales, Palawan, Nueva Ecija, Sorsogon, and Davao Oriental.
Lacson mentioned in his State of the Province Address last month that the Provincial Treasurer’s Office “exceeded expectations in revenue generation for both calendar year 2023 and the first semester of 2024.”
Data showed that local revenue generation in the previous year “soared to a staggering 198 percent of our target, amounting to PHP1.2 billion compared to the previous period (2022) with an estimated target collection amounting to PHP635.9 million.”
“This remarkable achievement demonstrates our team’s successful efforts in revenue generation and its significant contribution to local finances,” the governor said.
In the first half of 2024, the province’s collection efficiency of local sources stands at 103 percent, with an actual collection of PHP713.3 million, from last year’s PHP694 million.
“It proves that the revised revenue measures have been effective, efficient, equitable, and sustainable,” Lacson said. (PNA)
