The towns of Silang and Carmona, both located in Cavite’s fifth district, were among the country’s wealthiest municipalities, the Commission on Audit (COA) reported.
According to its 2020 Annual Financial Report for Local Government Units (LGUs), Silang was the second richest municipality, with a total of P4,238,550,000 in assets.
Silang’s assets increased by P395,940,000 this year compared to its total assets of P3,842,610,000 last 2019.
On the other hand, Silang posted a total of P2,090,910,000 in liabilities, putting the town in first place.
Along with Silang, the municipality of Carmona took the eighth rank with total assets of P2,471,610,000.
Carmona was placed tenth in the 2019 report, with just a total asset of P2,075,790,000.
In terms of the net assets, or the difference between total assets and liabilities, Silang has at least P2,147,640,000, while Carmona has P2,131,080,000, putting them in sixth and eighth place, respectively.
Meanwhile, Cavite province’s total net assets reached P12,425,723,000 this year, higher from P10,098,362,000 in 2019.
Here are the total net assets for each city and municipality in Cavite:
Cities: (in alphabetical order)
- Bacoor – P4,168,165,000
- Cavite – P1,489,514,000
- Dasmariñas – P7,763,708,000
- Gen. Trias – P3,907,488,000
- Imus – P3,089,964,000
- Tagaytay – P4,915,634,000
- Trece Martires – P2,013,582,000
Municipalities: (in alphabetical order)
- Alfonso – P307,543,000
- Amadeo – P243,341,000
- Carmona – P2,131,080,000
- Gen. Emilio Aguinaldo – P170,207,000
- Gen.Mariano Alvarez – P451,969,000
- Indang – P308,464,000
- Kawit – P403,331,000
- Magallanes – P182,509,000
- Maragondon – P224,410,000
- Mendez-Nuñez – P293,640,000
- Naic – P1,020,154,000
- Noveleta – P139,228,000
- Rosario – P1,619,415,000
- Silang – P2,147,638,000
- Tanza – P943,800,000
- Ternate – P153,200,000
