"This recognition reflects the daily work of a dedicated team and the commitment to the good management of public resources," pointed out Ana Paula Martins, mayor of the municipality in the Faro district, in a written statement sent to Lusa news agency.

According to the socialist mayor, re-elected in the municipal elections of October 12, the management of the municipality "is not carried out thinking about the ranking, but rather about improving the well-being of the community."

The work is developed "with a constant focus on improving the quality of life of the people of Tavira," she stressed.

For Ana Paula Martins, the rise of another position compared to last year's ranking "is not only a source of pride, but also recognition and consolidation of Tavira's image as a financially sustainable municipality."

The mayor guaranteed that the municipal executive will continue working "with responsibility, transparency and proximity, so that Tavira continues to be a benchmark for development and good governance."

Rankings

The 2024 performance ranking, compiled in the Municipal Financial Yearbook, was presented on Tuesday in Porto, and evaluated 308 municipalities based on ten financial indicators, including liquidity, indebtedness, budget execution and payment terms.

The study by the Center for Research in Accounting and Taxation of the Polytechnic Institute of Cávado and Ave, has the support of the Order of Certified Accountants and the Court of Auditors.

According to the document, only 86 municipalities (13 large, 27 medium, and 46 small) achieved a level considered satisfactory in terms of financial effectiveness and efficiency.

The rankings in the Financial Yearbook are based on a score that can reach up to 1,900 points, encompassing 10 indicators: liquidity index, ratio between EBITDA (earnings before interest, taxes, depreciation, and amortization) and operating revenues, weight of current liabilities in assets, liabilities per capita, financial coverage rate of expenditure incurred in the fiscal year, average payment term, degree of execution of the effective balance, total debt index 2021, surplus index, and direct taxes per capita.

In smaller municipalities, the ranking is led by Óbidos (Leiria), with 1,606 points, followed by Murtosa (Aveiro) with 1,583 points and Santa Cruz das Flores (Autonomous Region of the Azores), with 1,573 points.

In the top 100 municipalities, only 28% are small municipalities.

In large municipalities, the list is led by Sintra (Lisbon district), with 1,695 points, followed by Maia (Porto), with 1,683 points and Amadora (Lisbon), with 1,554 points.

In medium-sized municipalities, the ranking is led by Abrantes (Santarém), with 1,554 points, followed by Tavira (Faro), with 1,504 points, and Castelo Branco, with 1,493 points.