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MANILA, Philippines – The Leyte Metropolitan Water District (LMWD) has surpassed the Cagayan de Oro Water District (COWD) to become the third wealthiest tap water distributor in the country.
The COWD’s assets decreased by P161 million from its previous declaration of P2.7 billion two years ago.
With reported expenses of P1.156 billion exceeding its income of P1.124 billion, the COWD ended 2022 with a comprehensive loss of P138.47 million, trailing behind the LMWD.
The LMWD now holds assets totaling P2.653 billion, surpassing the COWD’s P2.539 billion, showed the 2022 Annual Financial Report for Government Corporations released by the Commission on Audit (COA).
The COA report covered 503 water districts, considered government-owned and -controlled corporations (GOCCs), with a combined asset value of P99.1 billion and total liabilities of P30.676 billion.
In 2022, the water districts collectively had an income of P2.286 billion, with earnings amounting to P29.814 billion and total expenses of P27.509 billion.
The COA report showed that the Davao City Water District (DCWD) remains the wealthiest in the country, boasting total assets of P11.61 billion as of the end of 2022, up by P622 million from its 2020 declaration.
Holding the second position is the Metro Cebu Water District (MCWD), reporting P5.245 billion in total assets for 2022, a modest gain of P5 million from 2020.
The Baguio City Water District (BCWD) maintains fifth place with assets of P2.278 billion, marking an increase of P412 million from 2020.
Palawan’s Puerto Princesa Water District (PPWD) advanced one spot to capture the sixth position with P2.252 billion in assets, an increase of P429 million from two years ago.
The Zamboanga City Water District (ZCWD) climbed to seventh place with declared assets of P2.104 billion, up by P290 million in two years.
San Jose del Monte Water District in Bulacan fell two places to land in eighth place, reporting P1.755 billion in assets, a decrease of P98 million from its 2020 declaration.
The Metro Iloilo Water District (MIWD) maintained its ninth position with P1.573 billion in assets, an increase of P25 million from 2020.
Batangas’ Metro Lipa Water District held the tenth spot with total assets of P1.523 billion, marking an increase of P37 million from two years earlier. – Rappler.com
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