Dagupan, 109th among 117 cities in net income
THE cash-strapped city of Dagupan registered not only the lowest net income for the whole Ilocos region but it also registered one of the lowest net incomes (109th among 117 cities in the whole country.
The financial highlights of Local Government Units made public by the Commission on Audit showed that Dagupan’s net income of P18.9 million last year was among the lowest among all Philippine cities.
City hall insiders fear that the 2006 report will even be more dismal since collections of rentals at the new Malimgas Public Market and collection from enforcement of the city’s fishery code have not improved but expenses continue to mount.
It was little consolation that Dagupan bested in point of net income the cities of Cabanatuan, P17.5 million; Oroquieta, P15.1 million; Balanga, P12.9 million; Tangub, 11.0 million; Palayan, P68 million; Ozamis, P6.0 million; Iriga, P4.9 million; and Bago, P3.5 million.
COA records showed that based on its P18.9 million net income, Dagupan only retained five per cent of its total income for 2005 in the amount of P357.04 million.
While the city registered a big total income, it also spent P338.5 million.
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