BACOLOD CITY – Negros Occidental ranked first in the Philippines for local source revenue growth among all provinces in 2023, according to the Department of Finance-Bureau of Local Government Finance (DOF-BLGF). The province recorded an impressive growth ratio of 163.66 percent for the fiscal year, as noted in a recent list released by the agency.
Governor Eugenio Jose Lacson acknowledged the achievement in an interview on Wednesday, expressing pride in the recognition while highlighting the challenges that come with it. “It’s even more a challenge for us to continuously increase our local source of funds,” Lacson stated.
The DOF-BLGF’s Memorandum Circular 017-2022, dated August 19, recognized the top-performing local government units in the country for strengthening local government finance during fiscal years 2022 and 2023. Trailing Negros Occidental in the rankings were Camarines Sur, North Cotabato, Nueva Vizcaya, Misamis Occidental, Zambales, Palawan, Nueva Ecija, Sorsogon, and Davao Oriental.
Governor Lacson, in his State of the Province Address last month, praised the Provincial Treasurer’s Office for exceeding expectations in revenue generation, reporting that the local revenue soared to 198 percent of the target for 2023. The province collected PHP1.2 billion, a significant increase from the estimated target collection of PHP635.9 million for the previous year.
“This remarkable achievement demonstrates our team’s successful efforts in revenue generation and its significant contribution to local finances,” the governor added.
In the first half of 2024, the province’s collection efficiency continued to rise, reaching 103 percent, with an actual collection of PHP713.3 million compared to last year’s PHP694 million. Lacson noted that this proves the revised revenue measures have been “effective, efficient, equitable, and sustainable.” (PNA)