14 towns in Cebu upgraded and reclassified
Cebu City (19 February) -- Fourteen (14) municipalities in Cebu Province have been upgraded and reclassified based on the growth of their annual income as reviewed correctly by the Department of Finance (DOF).
The towns that have been upgraded from 4th class municipality to 3rd class municipality are Badian, Compostela, San Francisco in Camotes Island and Tabogon. Only Santander considered a 5th class municipality has been promoted to a 4th class town
Towns that have been upgraded from 3rd class to 2nd class towns are Barili, Medellin and Pinamungahan.
Four towns have likewise been promoted to a first class municipality from second class namely Bantayan, Consolacion, Daan Bantayan and Dalaguete.
After the review by the DOF on the income ranges of local government units (LGUs) which serves as the basis for their income classification in order that it may continue to conform with prevailing economic conditions and the overall financial status of the local governments, and upon proper considerations of the trends and patterns reflected in the Financial Statements of the LGUs for calendar years 2004-2007 as certified by the Commission on Audit, the reclassification of the identified towns was approved and became effective in July 2008.
Based on the income bracket of LGUs on the classification of municipalities, first class municipalities must earn an average annual income of P55M or more while second class towns should have an average yearly income of P45M or more but less than P55M. Third class towns must earn an average annual income of P35M or more but less than P45M and fourth class municipalities must have an average yearly income of P25M or more but less than P35M.
Fifth class towns should have an average yearly income of P15M or more but less than P25M and sixth class towns should have an average annual income of below P15M.
Copies of the order on the DOF-approved reclassification had been provided to the Provincial Governor, Office of the Municipal Mayors and the Members of the Provincial and Municipal Sanggunian for their proper information and guidance. (PIA-Cebu/FCR) [top]