Toledo is richest city in Cebu province

Local

TOLEDO City, a first income-class city, is the wealthiest city among the six component cities of Cebu Province in terms of net assets or equity.

Based on its consolidated statement of financial position uploaded by the Commission on Audit (COA) on its website, Toledo City has total assets worth P8.858 billion. This includes current assets comprising cash and cash equivalents, investments, receivables, inventories, prepayments and deferred charges totaling P4.320 billion, and non-current assets worth P4.537 billion, which are comprised of the city’s investments; investment property; property, plant, and equipment; and biological assets.

Toledo’s assets in 2025 increased by 16.76% or P1.271 billion from its 2024 assets, which amounted to P7.586 billion.

As to its liabilities, the city recorded P2.480 billion in liabilities as of December 31, 2025, bringing its net assets or equity to P6,377,303,118.06, the highest among the six component cities in the province.

Its liabilities also grew over a year, with debt increasing by P546,327,914.19 or 28.24% from 2024 to 2025.

Second to Toledo is the City of Naga with a total net worth of over P4 billion from its assets of P5.886 billion and liabilities of P1.879 billion.

Net assets or equity is the product of total assets minus

total liabilities.

Ranking third is Carcar City with P4.917 billion worth of assets minus P1.176 billion in liabilities, leaving its equity at P3.7 billion.

Carcar is followed by Danao City in the north with P3.781 billion in assets, P881.9 million in liabilities, and P2.899 billion in net equity.

Following Danao is Talisay City, registering P2.764 billion in net assets or equity in the year 2025 from P3.673 billion in assets minus P908.6 million in liabilities.

Bogo City has P3.168 billion in assets, deducted by P1.122 billion in liabilities, totaling P2.045 billion in net worth.

In terms of liabilities, Toledo also has the biggest liability or debt. According to COA’s report, among Toledo’s loan payable accounts were financed by the Land Bank of the Philippines (LBP) for the construction of the city’s Sports Complex amounting to P597.8 million, payable for 15 years; senior citizens building, land transportation terminal, and public market.

State auditors conduct their annual auditing of LGUs, with audit reports posted on its website the following year.(MyTVCebu)