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Manila Bulletin devider Philippines devider Metro Manila devider Makati City cited for efficient local revenue generation, finance management

Makati City cited for efficient local revenue generation, finance management

Published Nov 6, 2025 03:48 pm
Mayor Nancy Binay, together with City Treasurer Jesusa Cuneta, proudly accepted three prestigious Plaques of Recognition for the City of Makati from the Bureau of Local Government Finance (BLGF) during the 2025 Local Treasury Operations Summit on Nov. 5. (Photo from Makati PIO)
Mayor Nancy Binay, together with City Treasurer Jesusa Cuneta, proudly accepted three prestigious Plaques of Recognition for the City of Makati from the Bureau of Local Government Finance (BLGF) during the 2025 Local Treasury Operations Summit on Nov. 5. (Photo from Makati PIO)

The Makati City local government was recognized by the Department of Finance's (DOF) Bureau of Local Government Finance (BLGF) on Wednesday, Nov. 5, as one of the top-performing cities in the country for Finance Year 2024.

Makati Mayor Nancy Binay said the city was ranked among the Top 10 Cities Nationwide across multiple performance indicators assessing efficiency in local revenue generation, fiscal independence, and expenditure management.

"Under the Local Source Revenues (LSR) category, Makati City placed second nationwide, following Quezon City, for its outstanding performance in generating locally sourced revenues totaling P18.9 billion for FY2024," Binay shared.

"The city also secured the top spot in the Ratio of Local Source Revenues (LSR) to Total Current Operating Income (TCOI), with an impressive 93.32 percent, the highest ratio among all cities evaluated. This means that the majority of Makati’s operating income comes from its local revenue sources—demonstrating the city’s strong fiscal autonomy and sound revenue administration," she added.

Makati was also cited in the Total Current Operating Expenditures (TCOE) per Capita category after recording expenditures amounting to P54,029.59 per capita, reflecting the city’s commitment to efficient budget utilization and investment in services that directly benefit its citizens.

The mayor expressed her gratitude for the recognitions as she stressed that Makati’s fiscal strength mirrors its good governance and efficient use of public funds.

"The BLGF’s annual performance evaluation aims to acknowledge local government units (LGUs) that demonstrate excellence in local financial administration, focusing on indicators such as Local Source Revenues, Ratio of LSR to Total Current Operating Income, Year-on-Year Growth in LSR, and Total Current Operating Expenditures per Capita," Binay explained.

"Makati City continues to lead in fiscal innovation and governance reforms, upholding its position as one of the country’s most financially stable and self-reliant local government units," she noted.

Related Tags

MAKATI CITY DOF BLGF FISCAL YEAR 2024 REVENUE INCOME FINANCES METRO NEWS NANCY BINAY
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