The 2024 performance ranking is compiled in the Municipal Financial Yearbook, which counts only 86 at a satisfactory level of efficiency.

“Only 86 municipalities (13 large, 27 medium-sized and 46 small) achieved a level considered satisfactory in terms of financial effectiveness and efficiency, that is, they reached at least 50% of the total possible score” in 2024, according to the document, prepared by the Centre for Research in Accounting and Taxation of the Polytechnic Institute of Cávado and Ave (CICF/IPCA) with the support of the Order of Certified Accountants (OCC) and the Court of Auditors (TdC).

According to the yearbook, “a total of 222 municipalities obtained a score of less than 950 points (less than 50% of the total score)” and “most of the remaining municipalities (58 out of 86) scored between 50% and 70% of the total score”.

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

Thus, 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. Among 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.

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.

Of the 100 municipalities with the best ranking, "13 are large, 35 are medium-sized and 52 are small", thus concluding in the yearbook that in the 'top 100' list are "represented 50% of large municipalities, 36.5% of medium-sized municipalities and 28% of small municipalities".

"Thus, it is observed that small municipalities are the ones that have the most difficulty in being included in the ranking of the 100 best municipalities, in terms of effectiveness and financial efficiency, a situation justified, essentially, by the low value of their own revenues, particularly those from taxes," the document reads.

By district, "it is observed that the districts of Faro and Lisbon, as well as the Madeira Region, manage to include half or more of their municipalities in the list of the 100 municipalities with the best overall evaluation in terms of effectiveness and financial efficiency," the document reads.