According to Commission on Audit or COA published 2019 Annual Audit Reports, Lipa City's revenue increased by more than 203M from 2018 which pulled up its 2019 revenue to 2.12B pesos from local taxes, permits and licenses, services and business income, and internal revenue allotment. City's Asset has increased to almost 5B pesos while Liabilities is also up to more than 1.5B.
Lipa City ranked #9 in CALABARZON for 2018 with highest revenue out of 19 cities. Ranking for 2019 is not yet definite due to reports yet to be posted for the rest of the cities.
While every places in the country is having the most challenging period of the year, 2020 financial reports will be a good indicator on how the administration of each cities and municipalities will be fair in managing its revenues and liabilities.
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