September 10, 2024 – Bacolod City has ranked 5th among the National Top-Performing Cities in Strengthening Local Government Finance for Fiscal Year 2023. This recognition, bestowed by the Bureau of Local Government Finance (BLGF) through Memorandum Circular 017-2024, issued on August 19, 2024, highlights Bacolod’s impressive 20.44% year-on-year growth in Local Source Revenues submitted quarterly to BGLF.

Local Source Revenues consist of income generated internally by the city, which includes tax revenues from real property, businesses, and other local taxes, as well as non-tax receipts from fees and charges, government business operations, and miscellaneous income.

This achievement marks the first time Bacolod City has received such recognition from the BLGF, underscoring the city’s dedication to improving financial management and strengthening its local economy.

Top 10 HUCs – Year-on-Year Growth in Local Source Revenues 2023:

1. Quezon City (NCR) – 30.02%

2. Makati City (NCR) – 26.02%

3. Pasay City (NCR) – 22.56%

4. Olongapo City (Region II) – 21.30%

5. Bacolod City (Region VI) – 20.44%

6. Mandaluyong City (NCR) – 19.80%

7. Parañaque City (NCR) – 17.41%

8. Caloocan City (NCR) – 17.09%

9. Las Piñas City (NCR) – 15.88%

10. Cebu City (Region VII) – 15.26%
(Source: Bacolod City Public Information Office)