The municipality of Pagbilao stays as Quezon province’s richest municipality with P1.585 billion in total assets in 2020, according to a report of the Commission on Audit (COA).
THE municipality of Pagbilao is still Quezon province’s richest municipality with P1.585 billion in total assets in 2020, according to a report of the Commission on Audit (COA).
In its latest Annual Financial Report (AFR) for Local Government, Pagbilao’s assets increased by P123,793,073.48 from its listed total assets of P1,462,035,273.71 billion in 2019.
The municipality generated a total income of P489,220,253.46 from local taxes, permits and licenses, service and business income, Internal Revenue Allotment and other income which was an increase of P 39,714,924.02 as compared to last year’s total income of P449,505,329.44.
Mauban, Quezon is second richest municipality with P1.523 billion in total assets, followed by Tiaong with P1.265 billion, Sariaya with P1.122 billion and Candelariawith P1.079 billion.
From tenth place, Tagkawayan advanced to sixth with P911.7 million while General Nakar ranked seventh with P807.7 million.
The COA Report also identified Catanuan in eighth place with P867.3 million and Lopez ranked ninth with P 862.8 million.
Joining the list is a newcomer, Infanta at tenth place with P664.7 million in total assets.
The AFR aims to provide essential information on the financial condition, performance, changes in equity, cash flows and comparative budget and actual amount of LGUs and the local government sector as a whole, to a wide range of user and stakeholders.
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