AMONG 8 ILOCOS REGION CITIES

LINGAYEN – Move over Dagupan City, Urdaneta City is now the cream of the crop.

Based on the financial report released by the Commission on Audit for 2005, Urdaneta City is now the leading city not only in Pangasinan but in the Ilocos region in terms of net income, gross income, total assets and total equity.

The COA report showed  Urdaneta reported a net income of P132,107,000  with a gross income of  P382,699,000 and expenses amounting to  P250,582,000, considered only as the third highest among eight cities in the region.

Urdaneta, which won its cityhood only in March 1998, had the highest  total assets among all  the region’s cities totaling P810,722,000, registering total equity of  P693,166,000 with total liabilities of P117,546,000, among the lowest in the region so far.

In contrast, Dagupan the oldest city in Region 1 had the lowest net income among in the province and among eight Ilocos cities at P18,901,000, according  to the COA financial  report.

Dagupan, however, registered the second highest total income at P357,404,000 but the report showed it is also the biggest spender among all eight cities, registering total expenditure amounting to P338,503,000 in 2005.

San Carlos, another city in Pangasinan, registered the second highest net income for 2005 at P79,956 while its total income was P264,663,000, the fifth highest in the region and was able to pare down its expenses to P184,707,000, the third lowest expenses registered in the region.

Alaminos, also in Pangasinan had the second highest net income at P53,380,000 and was in sixth place in point of total income at P205,634,000 against its total expenses at P152,254,000.

Alaminos had the lowest total liabilities among all eight cities at P24,134,000. Its total assets was pegged atP342,415, the second lowest in the region with its equity totaling P318,281,000, also the region’s second lowest.

San Carlos is a third class city while Alaminos is in fifth class.

Urdaneta and Dagupan City are the only second class cities in the Ilocos region today. But Urdaneta’s rise to second class from fourth class when it earned its city hood eight years ago is considered phenomenal.

Dagupan trails Urdaneta in total assets at P713,760,000 but again it registered the highest total liabilities among all cities in the region at P372,420,000, placing its total equity to P341,340,000.

Pangasinan is still best
earner in Ilocos region

Pangasinan maintained its lead among the four Ilocos provinces, as the best earning province.

In 2005, the provincial government registered P297,677,000 in net income, from a gross income of P1,255,170,000, and expenses of P957,492,000, incidentally also the highest in the region.

La Union is second in net income at P158,615,000 from its gross income of  P646,550,000 and expenses of  P576,266,000.

Third is Ilocos Norte with net income of P110,058,000, registering a gross income of P559,200,000 and total expenditures of P449,142,000.

 Tail-ender Ilocos Sur had a net income of P89,734,000, with a gross income of  P668,000,000 and total expenditures of P578,266,000.

But although Ilocos Sur had the lowest  net income in the region, it registered the highest total assets ay P2,613,027, besting Pangasinan at only P1,604,109,000.

Ilocos Sur’s total liabilities of P528,633,000 was the highest recorded in the region while its  total equity was P2,084,494,000.

Pangasinan has total liabilities of P369,264,000 with its total equity pegged at  P1,234,846.

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