Cebu tops in Assets
The Commission of audit recently released the financial highlights of local government units. cebu was ranked 7th among the cities with teh highest gross income of P2.135 billion. It was 6th among cities with highest net income of P511.1 million, and 7th in the list of cities with highest expenses of P1.623 billion.
In terms of current assets, Cebu was 6th with P1.744 billion, and it also has P1.044 billion in the bank.
The province of Cebu holds the top in assets among the provinces with total of P1.242 billion, followed by Zamboanga del Norte with about P800 million. Cebu province also topped the provinces in terms of cash in bank with P899 million. Cebu Province posted P1.409 billion in total gross income, and posted a net income of P247 milion which put it 7th in the top 10.