Quezon City still Phl's richest LGU

For four consecutive years, the Quezon City government under the helm of Mayor Joy Belmonte has been recognized as the richest local government unit (LGU), with total assets of P448.509 billion as of end-2023.

- Elizabeth Marcelo

Based on the Commission on Audit (COA)'s 2023 Annual Financial Report on Local Government, Quezon City led all LGUs, surpassing the total assets of the country's richest province, Cebu, at P309.897 billion.

The COA said the total assets were computed based on the LGU's cash, cash equivalent and receivables as well as its non-current assets such as property, plant and equipment.