Abstract: This paper attempts to answer the question: Is the financial capability of local governments affected by the quality of its leaders? Financial capability is measured in terms of the Own-Source Revenues generated by every barangay’s net of their Internal Revenue Allotment. Ordinary least squares method with log transformations in a multiple regression analysis is used to estimate how much of Zamboanga City’s ninety-eight barangays’ own-source revenues are affected by the qualities of their chairpersons. The regression results support the existing literature that education of punong barangays positively affect the level of barangays’ financial capability in Zamboanga City. The leaders’ age and experience are also positive contributors. Other qualities of the punong barangay such as civil status, family affiliation, and gender do not significantly affect barangay own-source revenues. These research findings imply that for village councils to have sufficient and sustainable funding, the electorate has to choose quality local leaders who are well-educated, experienced, and are old or mature enough to be able to generate and maintain local funds.