Cagayan de Oro City had an equity of P4.67 billion in 2014 and made it to the Top 10 cities in the Philippines with the highest equity based on the 2014 Annual Financial Report of the Commission on Audit (COA).
Meanwhile, Region 10 (Northern Mindanao) had an equity of P22.274 billion ranking 5th among all regions in the country.
Equity is the difference between the amount of assets and liabilities of LGUs. It is a financial resource that may be saved, or used for local projects such as infrastructures, investments and operating expenses. Read more article by Carolyn Bonquin of ABS-CBN News HERE.
You can download the Financial Reports HERE.
photo by vincent tom udasco