The municipality of Velas, on the island of São Jorge, is among the best in the country to live in, according to the 20th edition of the Financial Yearbook of Portuguese Municipalities.
Velas occupies 24th place in the Global Ranking of Municipalities included in the list of the 100 best globally ranked, having risen 4 places from the previous year. It is the 3rd best in the Azores in terms of overall score for the year 2023, a position it maintains from the previous year.
“Reinforcing what is the good management of the Executives led by Luís Silveira, a more adequate and balanced management in the allocation of its income, it should be noted that the Municipality of Velas is among the best in the country as a whole, with regard to the best liquidity index, occupying 20th place,” reads a note sent to DI by the municipality of Velas.
The Financial Yearbook of Portuguese Municipalities is a document prepared by order of Certified Accountants, which analyzes the financial health of the Public Sector and the Good Management of Public Entities, “being, in fact, the mirror of what goes on in Portuguese Municipalities and a contribution to better knowledge of Local Government.”

“Although the Municipality’s objective is not profit, but rather the well-being and generalized good quality of life of its citizens, the value of the economic results presented is still worthy of evaluation and scoring, especially the operating results, where the Municipality of Velas stands out at national level, occupying 3rd place,” says the note from the municipality led by Luís Silveira.
Another indicator analyzed concerns the degree of expenditure execution related to the commitments made. In this field, “the Municipality of Velas once again stands out among the 20 best in the country, with a surplus index of 130.7%”.
Concerning the level of execution of the revenue collected in 2023, Velas ranks 2nd in the Azores. Regarding the weight of revenue from taxes, fees, and licenses in the total collected, Velas ranks 16th for the Autonomous Region of the Azores, “thus remaining one of the municipalities with the lowest tax burden.”

In Diário Insular – José Lourenço, director

Translated to English as a community outreach program from the Portuguese Beyond Borders Institute (PBBI) and the Modern and Classical Languages and Literatures Department (MCLL) as part of Bruma Publication and ADMA (Azores-Diaspora Media Alliance) at California State University, Fresno, PBBI thanks Luso Financial for sponsoring NOVIDADES.