Quezon City credited good governance after it was named by the Commission on Audit (COA) as the country’s richest city for the second straight year.

Mayor Joy Belmonte said the distinction showed the city’s efforts, particularly on fiscal reforms, have paid off.

“We owe this to the hardworking men and women of the city government. Without them, we cannot accomplish this feat,” she said in a statement.

With a total asset of PHP451 billion, QC maintained its position as the wealthiest city in the country in 2021, despite a PHP1 billion drop from its declared assets in 2020.

“This honor will serve as our source of inspiration and strength to continue working for the betterment of our city and for the welfare of QCitizens,” Belmonte said.

Makati City remained second with PHP238.5 billion while the City of Manila landed third with PHP65.2 billion.

Other local government units listed in COAs 215-page Annual Financial Report for 2021 are Pasig City with PHP51.17 billion; Taguig City, PHP36.18 billion; Cebu City, PHP33.34 billion; Mandaue City, PHP33.01 billion; Mandaluyong City, PHP31.44 billion; Davao City, PHP26.55 billion; and Caloocan City, PHP23.38 billion

The top 10 wealthiest provinces last year are Cebu with PHP215.27 billion; Rizal, PHP30.64 billion; Batangas, PHP29.70 billion; Davao de Oro, PHP23.21 billion; Bukidnon, PHP19.45 billion; Negros Occidental, PHP18.02 billion; Ilocos Sur, PHP17.91 billion; Iloilo, PHP17.39 billion; Isabela, PHP16.42 billion; and Palawan, PHP16.11 billion. (PNA)