CEBU City Councilor Nestor Archival is the richest elected official in this city with a net worth of P17.97 million.

Archival's wealth, as reflected in his his Statements of Assets, Liabilities and Net Worth (SALN) for 2013, comes from his personal and other properties amounting to P9.5 million.

Archival's assets include eight residential lots and three buildings in Cebu City collectively valued at P6.55 million.

He also owns a condominium unit in Barangay Guadalupe worth P2.42 million.

Archival also listed savings/personal properties worth P6 million and accounts receivable amounting to P3.5 million. His liabilities reached P500,000 as of Dec.31, 2013.

Net worth

Archival is followed by Councilor Mary Ann delos Santos, who declared a net worth of P11. 66 million.

The bulk of delos Santos' money comes from her personal and other properties valued at P6.25 million.

These include cash in bank of P1.5 million, a Mitsubishi Montero, Toyota Grandia, and P1.35 million-worth of watches and jewelry.

Delos Santos also owns a residential lot in Barangay Guba, Cebu City worth P6.49 million, agricultural land in Barangay Guba worth P250,000 and a P6-million house-and-lot she inherited.

She had no financial liability as of Dec.31, 2013.

Cebu City Vice Mayor Edgardo Labella ranks third among the officials with the fattest wallets at City Hall with P11. 38 million net worth.

Labella owns two residential lots in Cebu City, three in Lapu-Lapu City, four residential lots in Bohol, one agricultural lot in Aloguinsan town, Cebu and a condominium unit in Makati City totaling P12.45 million.

The vice mayor's liabilities reached P2.6 million as of Dec. 31, 2013.


Labella also owns an agricultural business in Barangay Mabolo while his wife is running a family-owned business, Joybell's Catering.

Councilor James Anthony Cuenco ranked fourth with a net worth of P10.91 million. Cuenco's assets, which totaled P12,035,000, includes a house and lot in Quezon City worth P7.2 million.

His personal properties, which amounts to P12.03 million, include jewelry, appliances and gadgets, Ford Fusion, Honda Civic, Hyundai Starex, and cash-on-hand of P1.5 million.

Cuenco's liabilities reached P1.12 million.

The other city officials whose SALNs were released by the Visayas Ombudsman on Monday, with their respective net worth are: Councilors Gerardo Carillo, who registered a net worth of P9.73 million; Eugenio Gabuya, P7.62 million; Margarita Osmeña and her husband, former mayor Tomas, P6.64 million; and Leah Japson, P5.29 million.

Mayor Mayor Michael Rama registered a net worth of P4.44 million while Councilors Nida Cabrera has P4.19 million; Alvin Arcilla, P4.17 million; Noel Eleuterio Wenceslao, P2.05 million; Richard Osmeña, P1.45 million; and Roberto Cabarrubias, P1.30 million.

Lowest net worth

Councilors Alvin Dizon and Dave Tumulak had the least net worth at less than a million with P875,000 and P552,000, respectively.

The officials filed their annual asset papers to the Office of the Ombudsman-Visayas pursuant to Republic Act (RA) 6713 or the Code of Conduct and Ethical Standards for Public Officials and Employees, which requires all government officials and employees to submit declarations under oath on or before April 30 every year.

A public official’s net worth is computed by deducting his total liabilities from his total assets.

Uniform Rules on Administrative Cases in the Civil Service (Section 52 (b) (8), Rule 4) provides that failure of public officials to submit their SALN is punishable by suspension for one to six months for the first offense and dismissal from service for the second offense. (GMD)