A Review of CDO’s Housing and Debt Management
UY, KLAREX • Mayor of Cagayan de Oro • Mar 27, 2026
In 2024, Cagayan de Oro City incurred an additional ₱14,074,383.18 in interest expenses after failing to comply with a loan condition set by Land Bank of the Philippines. Under the agreement, the City was required to maintain a 1:1 deposit-to-loan ratio—meaning its deposits with the bank should match the amount it borrowed. When this requirement was not met, the loan’s interest rate increased significantly, rising from 2.85% to 7.11%. As a result, the higher interest payments led to over ₱14 million in extra costs—expenses that could have been avoided if the loan conditions had been properly maintained. This situation highlights the importance of careful financial management in government, where meeting loan obligations helps prevent unnecessary spending of public funds.
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Approved deped classroom Budget Allocation
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Approved budget
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Approved budget for this year
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Quality Score: 35/100
Fair