URDANETA CITY, Pangasinan - Urdaneta in Pangasinan is now the leading city in the Ilocos region not only in net income but also in total income, total assets and total equity based on the financial report released by the Commission on Audit for 2005.

The COA financial report showed Urdaneta had a net income of P132,107,000 from a total income of P382,699.000 million less its expenses of P250,582,000, which is the third highest among eight cities in the region so far.

Urdaneta and Dagupan City are the only second class cities in the Ilocos Region today. But Urdaneta’s rise to second class from nowhere since it earned its city hood nine years ago was almost phenomenal.

In contrast, Dagupan - the oldest city in Region I - had the lowest net income among eight Ilocos cities at P18,901,000 but registering total expenditures of P338,503,000.

Dagupan trails Urdaneta in total assets at P713,760,000 but again it registered the highest total liabilities among all cities in the region at P372,420,000, placing its total equity to P341,340,000.

San Carlos, another city in Pangasinan, registered the second highest net income for 2005 at P79,956 while its total income was P24,663,000, the fifth highest in the region and was able to pare down its expenses to P184,707,000, the third lowest in the region.

Alaminos, also in Pangasinan, had the second highest net income at P53,380,000 and was in sixth place in point of total income at P205,634,000 against its total expenses at P152,254,000.

Alaminos had the lowest total liabilities among all eight cities at P24,134,000. Its total assets was pegged at P342,415, the second lowest in the region with its equity totaling P318,281,000, also the region’s second lowest.

San Carlos is a third class city with Alaminos in fifth class.