Valencia town has become the third municipality in Oriental Negros to be reclassified into a first class municipality.

The two other first class municipalities in the province are Guihulngan and Sta. Catalina.

Maria Presentacion Montessa, Executive Director of the Bureau of Local Government Finance, who announced the municipality's new status, said that from a third class municipality, Valencia has been reclassified to first class because of its P81 million annual income.

The income is the highest among other municipalities in the province, made possible because of the operation of the Philippine National Oil Company-Energy Development Corporation that is tapping Valencia's rich geothermal sources for energy. A municipality below the first class status must have a minimum income of not less than P50 million to qualify for reclassification.

Valencia has also been declared the leading financial performer among the 122 municipalities in Region 7 by the Commission on Audit, beating Naga of Cebu and Talibon, Bohol.

This is aside from the municipality's high financial performance rating for proper use of its money.

Reacting to the latest development in his town's status, Valencia Mayor Rodolfo Gonzalez Jr. said the re-classification reflects its development.

Gonzales said the COA findings also showed that his administration has been putting its financial resources into proper use.*

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