Bulacan emerges as Top 1 Province in Local Source Revenues for FY 2022

CITY OF MALOLOS- The Province of Bulacan added another feather to its cap as it was hailed as the Top 1 Province in Local Source Revenues (LSR) in Nominal Terms for the Fiscal Year (FY) 2022, and Top 3 for FY 2023 during the 37th Bureau of Local Government Finance (BLGF) Anniversary Stakeholders’ Recognition held at Seda Manila Bay, Parañaque City last Wednesday, October 9, 2024.

Bulacan achieved ₱2.4 billion in local revenues in 2022 and ₱2.2 billion in 2023 coming from tax revenues including real property tax, tax on business, and other taxes; and non-tax revenues including regulatory fees, service or user charges, receipts from economic enterprise, and other receipts.

Governor Daniel R. Fernando, together with Provincial Treasurer Atty. Maria Teresa L. Camacho, received the recognitions from Department of Finance Secretary Ralph G. Recto and BLGF Executive Director Consolacion Q. Agcaoili.

In his speech, Sec. Recto said that local government units and their leaders are the true drivers of inclusive economic growth for the nation because they are the frontline institutions that create opportunities, uplift lives, and directly transform the communities.

“Saludo po ako sa inyong dedikasyon na patuloy na iangat ang antas ng serbisyo para sa ating mga kababayan. I am confident that each of you will become a shining example for all other LGUs, inspiring them to strive harder and deliver better, for the success of every LGU translates into prosperity for the people you serve,” the finance secretary said.

The province was also awarded as Top 5 in FY 2022 and Top 7 in FY 2023 for the Ratio of Local Source Revenues to Total Current Operating Income; and Top 10 in FY 2022 for the Year-on-Year Growth in Local Source Revenue achieving 29.22% growth.