Cagayan de Oro City had an equity of P6.297 billion in 2016 and made it to the Top 10 cities in the Philippines with the highest equity based on the 2016 Annual Financial Report of the Commission on Audit (COA).
Based on the said report which was released in October 2017, at the end of Fiscal Year 2016, Cagayan de Oro City had total assets amounting to P8.813 billion with total liabilities of P2.516 billion. 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. The said report also stated the city earned P2.888 billion in 2016.
Below is the Top 14 of cities in terms of Equity. The city though did not make it to the Top 10 in terms of assets.
Here’s the tabulated data for Cagayan de Oro and Northern Mindanao. Iligan City has larger assets (P.897 billion) but because of higher liabilities (P6.309 billion), their equity was much lower at P3.588 billion.
Download the Annual Financial Report for 2016 in the links below.