Naguilian, Isabela

CONSOLIDATED STATEMENT OF FINANCIAL POSITION

As at December 31, 2017
(With comparative figure for CY 2016)

Note 2017 2016

ASSETS
Current Assets
Cash and Cash Equivalents 4 53,346,029.88 53,491,902.53
Receivables 5 419,758.33 859,343.00
Total Current Assets 53,765,788.21 54,351,245.53

Non-Current Assets ###

Receivables 5 1,706,248.50 3,370,290.48
Property, Plant and Equipment 6 66,082,832.74 59,748,026.55
Total Non-Current Assets 67,789,081.24 63,118,317.03

Total Assets 121,554,869.45 117,469,562.56

LIABILITIES
Current Liabilities
Financial Liabilities 7 4,253,113.78 1,018,712.99
Inter-Agency Payables 7 20,397,846.93 26,071,740.33
Trust Liabilities 7 9,442,455.70 6,662,343.56
Deferred Credits/Unearned Income 7 0.00 609,024.75
Total Current Liabilities 34,093,416.41 34,361,821.63

Non-Current Liabilities ###

Deferred Credits/Unearned Income 7 0.00 1,403,853.12
Total Non-Current Liabilities 0.00 1,403,853.12

Total Libilities 34,093,416.41 35,765,674.75

NET ASSET/EQUITY
Government Equity 87,461,453.04 81,703,887.81

Total Liabilities and Net Asset/Equity 121,554,869.45 117,469,562.56

###
(See accompanying Notes to Financial Statements)

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Naguilian, Isabela
CONSOLIDATED STATEMENT OF FINANCIAL PERFORMANCE
For the Year Ended December 31, 2017
(With comparative figure for CY 2016)

Note 2017 2016

Revenue
Tax Revenue 8 4,305,922.21 3,602,029.17
Share from Internal Revenue Collections 9 96,106,416.00 84,848,345.00
Other Share from National Taxes 0.00 0.00
Service and Business Income 9 5,190,131.27 3,896,521.88
Share, Grants and Donations 3,146,850.00 0.00
Gains 0.00 0.00
Other Income 9 388,808.94 469,508.79
Total Revenue 109,138,128.42 92,816,404.84

Less: Current Operating Expenses

Personnel Services 10 37,857,985.22 34,647,277.69
Maintenance and Other Operating Expenses 11 36,348,658.67 29,950,476.29
Non-cash Expenses 12 9,114,389.43 5,864,250.94
Financial Expenses 0.00 0.00
Current Operating Expenses 83,321,033.32 70,462,004.92

Surplus (Deficit) from Current Operation 25,817,095.10 22,354,399.92

Add (Deduct)
Transfer, Assistance and Subsidy From 0.00 0.00
Transfer, Assistance and Subsidy To 4 2,771,362.41 2,375,985.94
Surplus (Deficit) for the period 23,045,732.69 19,978,413.98

(See accompanying Notes to Financial Statements)

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Naguilian, Isabela
CONSOLIDATED STATEMENT OF CASH FLOW
For the Year Ended December 31, 2017
(With comparative figure for CY 2016)

Note 2017 2016

Cash Flows from Operating Activities:
Cash Inflows
Collection from taxpayers 9 4,305,922.21 3,602,029.17
Share from Internal Revenue Allotment 9 96,106,416.00 84,848,345.00
Receipts from business/service income 9 5,190,131.27 4,320,065.47
Interest Income 9 52,637.95 45,965.20
Deividend Income 0.00 0.00
Other Receipts 10,693,329.20 36,736,234.78
Total Cash Inflows 116,348,436.63 129,552,639.62
Cash Outflows
Payment of expenses 11 36,348,658.67 32,326,462.23
Payment of suppliers and creditors 6,434,533.92 0.00
Payment of employees 10 37,857,985.22 34,647,277.69
Interest Expense 0.00 0.00
Other Expenses 4,173,194.05 24,642,398.26
Total Cash Outflows 84,814,371.86 91,616,138.18
Net Cash Flows from Operating Activities 31,534,064.77 37,936,501.44
Cash Flows from Investing Activities
Cash Inflows ###
Proceeds from Sale of Investment Property 0.00 0.00
Proceeds from Sale/Disposal of Property, Plant and ###
Equipment 0.00 0.00
Proceeds from sale of Non-Current Investments 0.00 0.00
Collection of Principal on loans to other entities 0.00 0.00
Total Cash Inflows 0.00 0.00
Cash Outflows ###
Purchase/Construction of Investment Property 0.00 0.00
Purchase/Construction of Property, Plant and Equipment 6 31,679,937.42 21,401,843.87
Investment 0.00 0.00
Purchase of Bearer Biological Assets 0.00 0.00
Purchase of Intangible Assets 0.00 0.00
Grant of Loans 0.00 0.00
Total Cash Outflows 31,679,937.42 21,401,843.87
Net Cash Flows from Investing Activities (31,679,937.42) (21,401,843.87)

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Cash Flows from Financing Activities
Cash Inflows ###
Proceeds from issuance of Bonds 0.00 0.00
Proceeds from Loans 0.00 0.00
Total Cash Inflows 0.00 0.00
Cash Outflows
Payment of Long-Term Liabilities 0.00 0.00
Retirement/Redemption of debt securities 0.00 0.00
Payment of loan amortization 0.00 0.00
Total Cash Outflows 0.00 0.00
Net Cash Flows from Financing Activities 0.00 0.00
Total Cash Provided by Operating, Investing and
Financing Activities (145,872.65) 16,534,657.57
Add: Cash at the Beginning of the year 53,491,902.53 36,957,244.96
Cash Balance at the End of the Year 53,346,029.88 53,491,902.53
###
(See accompanying Notes to Financial Statements)

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Naguilian, Isabela
CONSOLIDATED STATEMENT OF CHANGES IN NET ASSETS/EQUITY
For the Year Ended December 31, 2017
(With comparative figure for CY 2016)

2017 2016
Balance at January 1, 2017 81,703,887.81 77,412,416.69
Add (Deduct)
Change in Accounting Policy 0.00 8,009,023.09
Prior Period Errors (1,057,425.66) (23,695,965.95)
Restated Balance 80,646,462.15 61,725,473.83
Add (Deduct) Changes in ne assets/equity during the year
Adjustment of net revenue recognized directly in net assets/equity (16,230,741.80) 0.00
Surplus (Deficit) for the period 23,045,732.69 19,978,413.98
Total recognized revenue and expenses for the period 6,814,990.89 19,978,413.98
Balance at December 31, 2017 87,461,453.04 81,703,887.81

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MUNICIPAL GOVERNMENT OF NAGUILIAN
CONSOLIDATED STATEMENT OF COMPARISON OF BUDGET AND ACTUAL AMOUNTS
For the Year Ended December 31, 2017

Budgeted Amounts Difference Difference

Particulars Note Original and Actual Final Budget
Original Final Final Budget Amounts and Actual

Revenue
A. Local Sources
1. Tax Revenue
a. Tax Revenue - Property 8 1,584,000.00 1,737,740.67 (153,740.67) 2,668,596.47 930,855.80
b. Tax Revenue - Goods and Services 9 1,100,000.00 1,616,815.00 (516,815.00) 2,222,587.37 605,772.37
c. Other Local Taxes 9 66,000.00 133,037.01 (67,037.01) 152,331.05 19,294.04
Total Tax Revenue 2,750,000.00 3,487,592.68 (737,592.68) 5,043,514.89 1,555,922.21
2. Non-Tax Revenue
a. Service Income 9 896,500.00 2,318,378.12 (1,421,878.12) 4,698,442.33 2,380,064.21
b. Business Income 9 759,000.00 759,000.00 0.00 1,774,917.06 1,015,917.06
c. Other Income and Receipts 9 935,000.00 935,000.00 0.00 191,287.95 (743,712.05)
Total Non-Tax Revenue 2,590,500.00 4,012,378.12 (1,421,878.12) 6,664,647.34 2,652,269.22
B. External Sources
1. Share from the National Internal Revenue Taxes (IRA) 9 96,106,416.00 96,106,416.00 0.00 96,106,416.00 0.00
2. Share from GOCCs 0.00 0.00 0.00 0.00 0.00
3. Other Shares from National Tax Collections
a. Share from Ecozone 0.00 0.00 0.00 0.00 0.00
b. Share from EVAT 0.00 0.00 0.00 0.00 0.00
c. Share from National Wealth 9 50,000.00 83,835.79 (33,835.79) 86,345.78 2,509.99
d. Share from Tobacco Excise Tax 0.00 0.00 0.00 283,661.00 283,661.00
4. Other Receipts
a. Grants and Donations 0.00 0.00 0.00 3,146,850.00 3,146,850.00

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 b. Other Subsidy Income 0.00 0.00 0.00 0.00 0.00
5. Inter-local Transfer 0.00 0.00 0.00 0.00 0.00

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 6. Capital/Investment Receipts
a. Sale of Capital Assets 0.00 0.00 0.00 0.00 0.00
b. Sale of Investments 0.00 0.00 0.00 0.00 0.00
c. Proceeds from Collections of Loans Receivable 0.00 0.00 0.00 0.00 0.00
C. Receipts from Borrowings/Savings 0.00 8,959,048.40 (8,959,048.40) 8,959,048.40 0.00
Total Revenues and Receipts 101,496,916.00 112,649,270.99 (11,152,354.99) 120,290,483.41 7,641,212.42
Expenditures
General Public Services 0.00
Personnel services 10 31,297,528.66 32,238,570.30 (941,041.64) 27,951,438.30 4,287,132.00
Maintenance and Other Operating expenses 11 24,449,660.76 33,271,309.11 (8,821,648.35) 29,076,970.83 4,194,338.28
Capital Outlay 12 3,697,500.00 4,977,500.00 (1,280,000.00) 4,006,595.30 970,904.70
Education
Personnel services 10 0.00 0.00 0.00 0.00 0.00
Maintenance and Other Operating expenses 11 880,000.00 880,000.00 0.00 892,470.07 (12,470.07)
Capital Outlay 12 0.00 0.00 0.00 0.00 0.00
Health, Nutrition and Population Control
Personnel services 10 4,793,368.00 4,793,368.00 0.00 4,793,365.84 2.16
Maintenance and Other Operating expenses 11 3,201,000.00 3,201,000.00 0.00 2,412,891.82 788,108.18
Capital Outlay 12 20,000.00 20,000.00 0.00 19,550.00 450.00
Labor and Employment
Personnel services 0.00 0.00 0.00 0.00 0.00
Maintenance and Other Operating expenses 0.00 0.00 0.00 0.00 0.00
Capital Outlay 0.00 0.00 0.00 0.00 0.00
Housing and Community Development
Personnel services 10 623,064.00 623,064.00 0.00 623,064.00 0.00
Maintenance and Other Operating expenses 11 30,000.00 30,000.00 0.00 10,177.00 19,823.00
Capital Outlay 0.00 0.00 0.00 0.00 0.00
Social Services and Social Welfare
Personnel services 10 1,555,938.00 1,555,938.00 0.00 1,291,519.04 264,418.96
Maintenance and Other Operating expenses 11 1,373,756.58 1,373,756.58 0.00 1,201,695.74 172,060.84

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Capital Outlay 12 30,000.00 30,000.00 0.00 25,401.00 4,599.00

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Economic Services
Personnel services 10 3,870,971.00 3,870,971.00 0.00 3,198,598.04 672,372.96
Maintenance and Other Operating expenses 11 847,000.00 847,000.00 0.00 742,904.92 104,095.08
Capital Outlay 12 200,000.00 200,000.00 0.00 180,556.62 19,443.38
Other Purposes:
Debt Service 0.00 0.00 0.00 0.00 0.00
Financial expense 0.00 0.00 0.00 0.00 0.00
Amortization 0.00 0.00 0.00 0.00 0.00
LDRRMF
Maintenance and Other Operating expenses 11 4,914,481.00 5,024,146.00 (109,665.00) 1,917,593.29 3,106,552.71
Capital Outlay 12 116,365.00 116,365.00 0.00 116,365.00 0.00
20% Development Fund
Maintenance and Other Operating expenses 12 0.00 0.00 0.00 0.00 0.00
Capital Outlay 12 19,221,283.00 19,221,283.00 0.00 17,148,127.00 2,073,156.00
Share from National Wealth
Maintenance and Other Operating expenses 0.00 0.00 0.00 0.00 0.00
Capital Outlay 0.00 0.00 0.00 0.00 0.00
Allocation for Senior Citizens and PWD
Maintenance and Other Operating expenses 0.00 0.00 0.00 0.00 0.00
Capital Outlay 0.00 0.00 0.00 0.00 0.00
Others
Personnel services 0.00 0.00 0.00 0.00 0.00
Maintenance and Other Operating expenses 11 350,000.00 350,000.00 0.00 93,955.00 256,045.00
Capital Outlay 12 25,000.00 25,000.00 0.00 0.00 25,000.00
Continuing Appropriations
General Services 0.00 0.00 0.00 0.00 0.00
Education 0.00 0.00 0.00 0.00 0.00
Health, Nutrition and Population Control 0.00 0.00 0.00 0.00 0.00
Labor and Employment 0.00 0.00 0.00 0.00 0.00
Housing and Community Development 6,882,559.05 6,882,559.05 0.00 6,486,659.09 395,899.96

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 Economic Services 0.00 0.00 0.00 0.00 0.00
Total 108,379,475.05 119,531,830.04 (11,152,354.99) 102,189,897.90 17,341,932.14
Surplus (Deficit) for the period (6,882,559.05) (6,882,559.05) 0.00 18,100,585.51 (9,700,719.72)

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