Masbate News Public Finance

Annual Income of Bicol Cities and Provinces for 2006

Cbanga360.Net - The Bicol Street Journal

Published     10 Nov , 2010  9:14 am   Updated   21 Apr , 2013 at 3:36 pm   2,018 views.

The archway entrance to the city of Masbate, in the island province of Masbate.

We have been presenting income, expenditures, etc., of Bicol LGUs for so much posts already. But while Bicol LGUs earn millions (in pesos), it does not follow that the constituents are also that rich.

On the contrary, not much has changed on more than majority of the people’s earnings and income. Many families are still below the poverty threshold level around the region. So that there is the strong contrast of the government awashed with money and the people stricken in poverty.

For the year 2006, only the city of Tabaco gets left behind with an income less than P200M– P169,113,444 to be exact.

Naga city continue to lead with P466,138,277. Legazpi came in second with P421,838,151.

Sorsogon city on third with P349,656,671. Ligao city next with P253,266,953.

Masbate city earned P236,262,651 while Iriga city had P234,625,310.

Check out the percentage of dependence of these cities from the Internal Revenue Allotment for our reference year:
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RankLGUIRA
1Sorsogon City266,774,662
2Legaspi City260,001,121
3Ligao City223,710,598
4Naga City206,296,238
5Iriga City201,285,607
6Masbate City185,632,412
7Tabaco City144,960,590

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Out of seven cities, Ligao ended with a deficit, -P46,791.210. All others shelved a good amount of savings led by Naga.

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RankLGUExcess or Deficit
1Naga City135,524,704
2Tabaco City50,135,906
3Legaspi City46,323,955
4Sorsogon City39,394,494
5Iriga City16,321,708
6Masbate City7,467,508
7Ligao City-46,791,210

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Turning our sight now on the six Bicol provinces, Camarines Sur earned P805,591,000 followed by Albay’s P764,136,928. In the next few years, if governor Joey Salceda’s honest effort at his economic push of the province come into full fruition, Albay may takeover the lead off Camsur.

Sorsogon is a far third with P560,056,184 and close on the heels is Camarines Norte with P495,287,568.

Soon, Masbate will get enough steam and may earn more. For the meantime, its annual income of P494,777,510 was a modest one.  Catanduanes marked P305,712,564 for 2006.

Here’s the table for the six provinces’ Internal Revenue Allotment. To get the percentage of each LGU’s dependence, divide the IRA share by the respective annual income. Example: The province of Sorsogon is 79.31% dependent on IRA share.

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RankLGUIRA Share
1Camarines Sur739,045,000
2Albay615,006,230
3Masbate484,384,525
4Sorsogon444,165,933
5Camarines Norte387,997,313
6Catanduanes295,434,420

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At the end of the year, not one provincial LGU went on the red. Good news though for they saved modestly the people’s money. Sorsogon banked 21.07% of its annual income for the rainy days. Very nice.
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RankLGUExcess
1Sorsogon118,018,537
2Albay86,246,737
3Camarines Sur49,480,000
4Catanduanes42,831,091
5Masbate37,553,946
6Camarines Norte36,265,227

To be continued.


Thanks and photo courtesy of Dr. Elnora A. Brocales.
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