THE VIEW FROM RIZAL
Late last week, traditional and online media outfits went to town with stories on the country’s richest provinces, cities, and municipalities. The stories were based on the audit report of the Commission on Audit as of the end of 2022.
We are elated by the fact that the stories invited much attention. This is not only because the coverage showed the ranking of the local government units based on who’s the richest and who’s the least rich. The stories may have generated interest the same way stories about the results of bar exams, board and licensure exams, and beauty contests do. After all, the public loves looking at the list that shows who got into the shortlist of semi-finalists, who topped the contest, who the runners-up were, and who got eliminated.
As far as the COA report is concerned, it is definitely not a contest, beauty or otherwise.
It was not primarily intended to be a report on which LGUs are the richest and which of their siblings are not as blessed.
The COA report is, first and foremost, about financial performance.
It was a presentation of the financial condition of LGUs, their equity, cash flow, and how they fared in the utilization of their budgets.
While some portions of the report showed which LGUs had more assets, equities, and liabilities than others, it was not particularly meant to be a comparison. From the viewpoint of local governments, the tables summing up performances in various categories were meant to show how well the LGUs have generated financial resources with which to fund development in their communities, and how efficiently they have managed and used them.
Based on the COA report for 2022, it looks like the local government sector deserves kudos for a job well done. Consider this: revenue generated by cities in 2022 reached ₱429.05 billion, eclipsing the 2021 level of ₱339.03 billion or a 17.85 percent increase. The same is true for provinces: ₱271.94 billion in 2022, surpassing the 2021 record of ₱187.75 billion for a 31.85 percent increase.
The country’s municipalities did not allow themselves to be left behind. In 2022, their aggregate revenues hit ₱401 billion, a whopping 30.35 percent over their record of some ₱310 billion.
While a significant portion of LGU revenues come from the so-called Internal Revenue Allotment or IRA, their revenue performance likewise showcases their ability to generate their own income. The figures show that they are collecting local taxes more efficiently and that they are generating more income from the services they provide to the business and industrial establishments present in their localities.
Interestingly, four out of the top 10 municipalities with the highest revenues earned in 2022 are in Rizal province: Cainta, Taytay, Montalban, and Binangonan. In terms of “wealth” or assets, Cainta, Taytay, and Binangonan made it to the list of the top 10 richest towns in the country today.
Rizal province itself is among the top 10 provinces with the highest revenues generated in 2022, coming in fourth behind Bulacan, Cavite, and Ilocos Sur, in that order. Coming in fifth in terms of revenues earned in 2022 is the country’s leading province in terms of assets – Cebu province. Based on the same criterion, Rizal province – officially the country’s most competitive province – managed to land in the list of the country’s top 10 richest provinces with more than ₱35 billion in assets.
Antipolo City, meanwhile, is on the list of the 20 “wealthiest cities” in the country, with total assets of nearly ₱19 billion, more than ₱5 billion in revenues in 2022, a budget surplus of nearly ₱1.8 billion, and ended the year 2022 with a cash balance of almost ₱9 billion – ₱1 billion more than what it started with that year.
It is interesting that, unlike the National Competitiveness Report, the COA report does not separate component cities from highly urbanized cities, nor does it put municipalities into their respective classes. This is important because the COA report shows that component cities are not far behind their highly urbanized counterparts in terms of the ability to create “wealth.”
For the province of Rizal, there is more to the report than just a presentation of how much money it made. The COA review of its financial performance attests to the ability of the province to bounce back from adversity and move forward.
Our young readers may not be aware of it, but Rizal used to have more than just 13 towns and one city. Before the year 1975, the province included in its territory 11 cities and one municipality which are now part of the National Capital Region: Marikina, Malabon, Navotas, Pateros, Taguig, Makati, Parañaque, Muntinlupa, San Juan, Mandaluyong, Las Piñas and Pasig.
When these ultra-prosperous entities were cut off from the mother province, many thought it was all over for Rizal. It would become nothing more than a dormant backyard neighbor of Metro Manila.
Cynics have been proven wrong. It is now the country’s most competitive province and second wealthiest. The feat is a testament to the spirit of the Rizaleños – always resilient and hopeful. It is also a tribute to the power of collaboration between the public and private sectors, and to the inspiration of the memory of the national hero after whom the province was named. ([email protected])