MANILA — Quezon City remains the Philippines' wealthiest city in terms of assets, a 2021 report from the Commission on Audit (COA) showed.

According to the COA report, Metro Manila's largest and most populous city has assets totaling P451.007 billion.

Cebu, meanwhile, also retained its place as the country's richest province, with assets of up to P215.27 billion.

The town of Carmona, Cavite is also the country's wealthiest town with P6.211 billion worth of assets.

The figures are included in the 2021 Annual Financial Report for Local Government prepared by COA, as mandated by the Constitution and the Government Auditing Code of the Philippines.

The report covers financial statements of 1,676 or 97.7 percent of the 1,715 local government units, consisting of 81 provinces, 1,488 municipalities, 22,680 barangays and the Bangsamoro government composed of 21 ministries and offices.

COA listed the following places among the country's wealthiest:

CITIES

• Quezon City: P451.007 billion
• Makati: P238.561 billion
• Manila: P65.252 billion
• Pasig City: P51.176 billion
• Taguig: P36.116 billion
• Cebu City: P33.343 billion
• Mandaue: P33.006 billion
• Mandaluyong P31.44 billion
• Davao City: P26.555 billion
• Caloocan: P23.383 billion

PROVINCES

• Cebu: P215.27 billion
• Rizal: P30.637 billion
• Batangas: P29.705 billion
• Davao de Oro: P23.211 billion
• Bukidnon: P19.455 billion
• Negros Occidental: P10.025 billion
• Ilocos Sur: P17.907 billion
• Iloilo: P17.399 billion
• Isabela: P16.419 billion
• Palawan: P16.108 billion

MUNICIPALITIES

• Carmona, Cavite: P6.211 billion
• Limay, Bataan: P4.794 billion
• Silang, Cavite: P3.738 billion
• Cainta, Rizal: P3.393 billion
• Taytay, Rizal: P3.274 billion
• Binangonan, Rizal: P3.141 billion
• Caluya, Antique: P3.11 billion
• Sta. Maria, Ilocos Sur: P3.044 billion
• Cabugao, Ilocos Sur: P2.966 billion
• Rodriguez, Rizal: P2.915 billion

In COA's 2020 report, Quezon City had total assets amounting to P452.333 billion while Cebu province had P213.005 billion.

Limay, Bataan was the wealthiest municipality in 2020, with total assets worth P4.463 billion while Carmona, Cavite was at 8th place with total assets amounting to P2.471 billion.

The annual financial report for local governments was
submitted by COA Officer-in-Charge Roland Pondoc to the offices of President Ferdinand Marcos, Jr., Senate President Juan Miguel Zubiri and Speaker Ferdinand Martin Romualdez on September 29.