The Municipality of Loay, a coastal town in the island province of Bohol, has received two awards from the Department of Finance (DOF) and the Bureau of Local Government Finance (BGLF) for its outstanding performance in local revenue generation and collection.
According to a post by One Loay Facebook page, Loay ranked 8th among all the municipalities in the Philippines based on the 2021 Year-on-Year Growth in Locally Sourced Growth, and 10th among all the municipalities in the Philippines based on the 2021 Collection Efficiency of Locally Sourced Revenues.
Mayor Hilario Ayuban expressed his gratitude to DOF and BGLF for recognizing Loay’s achievements, as well as to LGU officials, Sangguniang Bayan (led by Vice Mayor Janjan Cubarol), Head of Offices especially Treasurer’s Office (led by Municipal Treasurer Marifel Dumayac), and “above all to the people who are faithful in paying their taxes.”
Loay is a 5th class municipality with a population of 17,855 as of 2020 Census. It has a land area of 48.24 square kilometers or 18.63 square miles which constitutes 1.01% of Bohol’s total area. It is located at the mouth of Loboc River and can be divided into a lower and an upper part.