Cebu second nationwide in terms local source revenue

Cebu Province has stood out as one of the country's top-performing local governments in fiscal management, ranking second nationwide among all provinces in Local Source Revenues (LSR) for 2024, according to the Bureau of Local Government Finance (BLGF).

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In its Memorandum Circular No. 017-2025 issued on October 1, 2025, the BLGF named outstanding provinces, cities, and municipalities that demonstrated excellence in revenue generation and fiscal discipline based on the 2023-2024 Statement of Receipts and Expenditures.

Cebu generated P3.01 billion in locally-sourced revenues last year, trailing only Bulacan, which topped the list with P3.39 billion.

The province outperformed other large economies such as Rizal (P2.82 billion), Pampanga (P2.70 billion), and Quezon (P2.30 billion).

Aside from its revenue size, Cebu also placed fifth nationwide in the ratio of Local Source Revenues to Total Current Operating Income (TCOI) at 36.25%. This is an indicator that measures the degree of fiscal independence from external funding sources such as the National Tax Allotment.