City awarded for Outstanding Local Revenue Growth

The Bureau of Local Government Finance (BLGF) has cited Baguio City for its outstanding performance in local revenue generation. The city ranked fifth among Highly Urbanized Cities (HUCs) nationwide with exceptional growth rate in locally sourced revenues for Fiscal Year 2024 posting a 19.44 percent growth rate in locally sourced revenues compared to 2023.

The City Treasury Office under City Treasurer Alex Cabarrubias said that in 2023, it posted a growth rate of 7.79 percent as compared to 2022.

For its feat, the city along with other local government units (LGUs) that demonstrated excellence in fiscal management was awarded during the BLGF’S 38th Anniversary celebration on November 5 at the SMX Convention Center in Taguig City.

Representatives from the City Treasury Office and the City Assessor’s Office received the award on behalf of the City Government.

Mayor Benjamin Magalong welcomed the latest recognition which he said proves the city’s strong commitment to sound fiscal governance, efficient revenue collection, and sustainable local development, all of which contribute to improved delivery of public services and continued economic resilience. – Aileen P. Refuerzo