Baguio City Rep. Bernardo Vergara is the wealthiest among the Cordillera congressmen while Ifugao Rep. Teddy Baguilat Jr. ranks the poorest.
Based on the Lower House’s summary report on the 2011 Statement of Assets, Liabilities, and Net worth (SALN) filed by its members, Vergara declared a net worth of P48.720 million.
Net worth is the difference between one’s total assets and liabilities. Assets comprise one’s belongings, either real (such as lands and buildings) or personal (jewelries and cars) while liabilities refer to obligations that must be paid, such as personal and financial loans.
Vergara’s SALN listed P54.660M in his total assets and placed his liabilities at P5.940M. He reported his real assets are worth P25.650M using the current fair market value or real properties and his personal assets to be worth P28.010M. The city solon is vice chair of the Lower House committee on public works.
Baguilat, meanwhile, ranks the poorest with a declared net worth of P2.118M. His SALN showed he had a P5.958M worth of real properties and a debt of P3.840M. He listed his real assets at P1.350M and personal assets at P4.608M. Baguilat chairs the committee on indigenous peoples.
Trailing Vergara on the list of wealthy lawmakers is Benguet Rep. Ronald Cosalan who declared a net worth of P44,005,540.
Cosalan, chair of the committee on public works, placed his total assets at P51,843,000 and his liabilities at P7,837,460.
Abra Rep. Ma. Jocelyn Bernos declared a net worth of P14M. The lady solon reported P4M in her real assets and P10M in her personal assets. Her SALN showed she has no debts.
Bernos is vice chair of the committee on cooperative development.
Mountain Province Rep. Maximo Dalog’s net worth was placed at P9,709,496. He declared P14,430,666 in total assets and P4,721,170 in liabilities.
Kalinga Rep. Manuel Agyao declared a net worth of P8,565,220. The chair of the committee on bases conversion listed P13,071,220 worth of total assets and P4.506M as liabilities.
Apayao Rep. Eleanor Begtang placed her net worth at P7,287,354.80. Her SALN listed her total assets at P9,558,025 and her liabilities at P1,704,350.
Republic Act 6713 or the Code of Conduct and Ethical Standards for Public Officials requires all government officials and employees to disclose their assets and liabilities in their annual SALNs, which must be filed on or before April 30 of every year.