The province of Nueva Vizcaya has emerged as a standout performer in local governance and fiscal management, securing the fourth spot in local revenue growth among the 82 provinces in the Philippines for 2023. This impressive feat was achieved under the leadership of Governor Atty. Jose V. Gambito was revealed in the latest report by the Department of Finance-Bureau of Local Government Finance (DOF-BLGF).
The province reported a remarkable year-on-year growth ratio of 68.20 percent in local source revenues for the fiscal year 2023. This significant increase highlights the province’s effective strategies in enhancing local revenue generation, budgetary discipline, and economic development initiatives.
In addition to the province’s success, the municipality of Kasibu has also garnered national attention by ranking sixth among the 1,489 municipalities across the country. Kasibu achieved an extraordinary growth ratio of 214.93 percent, reflecting its robust local revenue enhancement measures.
These top-performing local government units were recognized in BLGF Memorandum Circular 017-202, dated August 19. This memorandum highlights the outstanding efforts of local governments in improving their financial management for fiscal years 2022 and 2023.
The data supporting these achievements were compiled from the FY 2019, 2022, and 2023 Statements of Receipts and Expenditures (SRE) reports, submitted by Local Treasurers in line with Department of Finance Order No. 8-2011. The Bureau of Local Financial Data Analysis Division (LFDAD) carefully evaluated and processed these reports, which were then verified by the concerned BLGF regional offices.
Significantly, Nueva Vizcaya is the only province in the entire Cagayan Valley region to make it into the top ten for local revenue growth for 2023, highlighting its leadership and innovative governance.
Governor Gambito expressed his pride in the province’s achievements, attributing the success to the collective efforts of local government officials, employees, and the community. “This recognition is a testament to our commitment to good governance, transparency, and fiscal responsibility. We will continue to strive for excellence and work towards sustainable development for the benefit of our constituents. Our focus has always been on creating an environment where economic growth is not just a goal but a reality for every resident of Nueva Vizcaya,” he said.
Provincial Treasurer Rhoda S. Moreno also highlighted the innovative strategies that contributed to this success. “The remarkable escalation of our local sources is the result of the various innovative approaches introduced by the Provincial Treasury coupled with the tax ordinances passed by the SP granting discounts and providing convenience for our taxpayers to pay in staggered payments without penalties, and of course, the strong support of our Governor, Atty. Jose Gambito, to our revenue generation activities geared toward the increase of our locally-sourced revenues,” Moreno stated.
The awarding ceremony to honor these top-performing local government units is scheduled to take place on October 9 in Manila, where Nueva Vizcaya’s exemplary performance will be formally recognized. /rmi
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