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CEBU CITY, Philippines — Consolacion is the richest town in Cebu, both in terms of assets and equity, according to the latest financial report from the Commission on Audit (COA).
The top five wealthiest municipalities here have at least P1 billion in assets and in equity or net assets, which is the value of assets after liabilities for the fiscal year 2023.
Topping the list is the town of Consolacion in northern Cebu, with assets worth of P2.2 billion and equity of P1.6 billion.
It was followed by Minglanilla with assets of P2.1 billion, and equity of P1.5 billion; and Balamban whose assets were valued at approximately P1.7 billion and assets at P1.4 billion.
Consolacion, Minglanilla, and Balamban are first-class towns.
Ranking 4th is Tuburan, with assets around P1.6 billion and equity of P1.1 billion.
Rounding up the top five is the town of Oslob in the south, which is famous for its whale shark-watching activities, after it posted assets worth P1.2 billion, and equity of P1 billion.
See the list below for the top 20 wealthiest municipalities based on net assets or equity.
In terms of assets, here are the top 20 wealthiest towns in Cebu.
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