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ANNUAL REPORT 2014 |
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COMPARATIVE
STATEMENT OF INCOME AND EXPENSES |
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For
the Calendar Year Ended
December 31, 2014 |
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STATEMENT OF INCOME AND EXPENSES - 2014 |
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ACTUAL |
BUDGET |
DIFFERENCE
Inc. (Dec.) |
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INCOME |
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Income from Waterworks System |
P
9,389,130.73 |
P
10,418,937.00 |
P (1,029,806.27) |
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Other Business Income |
375,931.11 |
576,840.00 |
(200,908.89) |
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Fines and Penalties |
493,055.07 |
416,757.48 |
76,297.59 |
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GROSS INCOME |
10,258,116.91 |
11,412,534.48 |
(1,154,417.57) |
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LESS:
EXPENSES |
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PERSONAL
SERVICES |
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Salaries and Wages - Regular |
2,284,348.50 |
2,405,727.00 |
(121,378.50) |
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Salaries
and Wages - Contractual |
281,124.35 |
369,570.00 |
(88,445.65) |
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Personal
Economic Relief Allowance (PERA) |
264,000.0 |
264,000.00 |
0.00 |
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Representation Allowance (RA) |
60,000.00 |
60,000.00 |
0.00 |
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Transportation Allowance (TA) |
60,000.00 |
60,000.00 |
0.0 |
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Clothing/Uniform Allowance |
65,325.00 |
67,000.00 |
(1,675.00) |
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Productivity Incentive Allowance |
22,000.00 |
22,000.00 |
0.00 |
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Other Bonuses and Allowances |
208,080.00 |
418,000.00 |
(209,920.00) |
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Overtime and Night Pay |
137,122.78 |
120,000.00 |
17,122.00 |
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Cash Gift |
55,000.00 |
55,000.00 |
0.00 |
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Year End Bonus |
214,163.00 |
208,750.00 |
5,413.00 |
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Life and Retirement Insurance Contributions |
276,406.68 |
281,508.84 |
(5,102.16) |
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PAG-IBIG Contributions |
13,200.00 |
13,200.00 |
0.00 |
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PHILHEALTH Contributions |
25,875.00 |
28,044.00 |
(2,169.00) |
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ECC - Contributions |
13,060.00 |
13,200.00 |
(140.00) |
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Terminal Leave Benefits |
167,316.79 |
150,000.00 |
17,316.79 |
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Provident Fund Benefits |
15,922.69 |
24,057.27 |
(8,134.58) |
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Other Personal Benefits |
0.00 |
22,000.00 |
(22,000.00) |
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Total
Personal Services |
4,162,944.79 |
4,582,057.11 |
(419,112.32) |
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MAINTENANCE
AND OTHER OPERATING EXPENSES |
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Traveling Expenses - Local |
185,776.25 |
139,360.00 |
46,416.25 |
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Training Expenses |
18,663.00 |
255,400.00 |
(236,737.00) |
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Office Supplies Expenses |
65,122.29 |
75,000.00 |
(9,877.71) |
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Accountable Forms Expense |
68,934.00 |
30,000.00 |
38,934.00 |
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Gasoline, Oil and Lubricants Expenses |
1,328,598.00 |
700,000.00 |
628,598.00 |
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Other Supplies Expenses |
19,438.05 |
25,000.00 |
(5,561.95) |
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Electricity Expense |
151,783.79 |
250,000.00 |
(98,216.21) |
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Postage and Deliveries |
1,080.00 |
5,000.00 |
(3,920.00) |
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Telephone Expenses - Landline |
14,719.24 |
15,000.00 |
(280.76) |
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Telephone Expenses - Mobile |
19,331.00 |
32,400.00 |
(13,069.00) |
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Internet Expenses |
10,989.00 |
12,000.00 |
(1,011.00) |
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Cable, Satellite, Telegraph and Radio
Expenses |
1,820.00 |
5,000.00 |
(3,180.00) |
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Membership Dues & Contributions to
Organization |
5,517.60 |
5,000.00 |
517.60 |
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Advertising Expenses |
0.00 |
35,000.00 |
(35,000.00) |
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Rent Expense |
2,000.00 |
2,000.00 |
0.00 |
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Representation Expenses |
127,414.00 |
60,000.00 |
67,414.00 |
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Rewards and Other Claims |
0.00 |
5,000.00 |
(5,000.00) |
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Legal Services |
0.00 |
5,000.00 |
(5,000.00) |
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Auditing Services |
0.00 |
30,000.00 |
(30,000.00) |
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Board Members Allowances and Other Benefits |
176,832.00 |
435,000.00 |
(258,168.00) |
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Repairs and Maintenance - Water System and
Structures |
641,629.88 |
500,000.00 |
141,629.88 |
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Repairs and Maintenance - Office Buildings |
2,115.00 |
5,000.00 |
(2,885.00) |
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Repairs and Maintenance - Office Equipment |
822.00 |
5,000.00 |
(4,178.00) |
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Repairs and Maintenance - Furniture &
Fixtures |
0.00 |
5,000.00 |
(5,000.00) |
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Repairs and Maintenance - IT Equipment |
2,622.00 |
5,000.00 |
(2,378.00) |
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Repairs and Maintenance - Machineries |
0.00 |
5,000.00 |
(5,000.00) |
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Repairs and Maintenance - Communication
Equipment |
0.00 |
5,000.00 |
(5,000.00) |
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Repairs and Maintenance - Other Machineries
& Equipment |
0.00 |
5,000.00 |
(5,000.00) |
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Repairs and Maintenance - Motor Vehicles |
18,413.00 |
25,000.00 |
(6,587.00) |
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Repairs and Maintenance - Reforestation |
0.00 |
15,000.00 |
(15,000.00) |
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Donations |
0.00 |
12,000.00 |
(12,000.00) |
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Taxes, Duties and Licenses |
233,123.48 |
275,000.00 |
(41,876.52) |
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Fidelity Bond Premiums |
3,975.00 |
5,000.00 |
(1,025.00) |
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Insurance Expenses |
33,924.49 |
30,000.00 |
3,924.49 |
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Bad Debts Expense |
101,460.48 |
75,000.00 |
26,460.48 |
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Depreciation - Land Improvement |
3,424.31 |
0.00 |
3,424.31 |
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Depreciation - Water System and Structures |
1,169,427.82 |
1,450,000.00 |
(280,572.18) |
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Depreciation - Office Buildings |
68,683.68 |
70,000.00 |
(1,316.32) |
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Depreciation - Office Equipment |
9,668.96 |
5,000.00 |
4,668.96 |
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Depreciation - Furniture and Fixtures |
10,415.02 |
10,000.00 |
415.02 |
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Depreciation - IT Equipment |
23,417.01 |
20,000.00 |
3,417.01 |
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Depreciation - Machineries |
1,800.00 |
20,000.00 |
(18,200.00) |
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Depreciation - Communication Equipment |
1,761.30 |
3,500.00 |
(1,738.70) |
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Depreciation - Other Machineries and
Equipment |
6,348.67 |
14,000.00 |
(7,651.33) |
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Depreciation - Motor Vehicles |
14,888.29 |
20,000.00 |
(5,111.71) |
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Total
Maintenance and Other Operating Expenses |
4,545,938.61 |
4,705,660.00 |
(159,721.39) |
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FINANCIAL
EXPENSES |
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Bank Charges |
0.00 |
1,000.00 |
(1,000.00) |
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Interest Expense |
1,879,745.87 |
1,879,745.87 |
0.00 |
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Total
Financial Expenses |
1,879,745.87 |
1,880,745.87 |
(1,000.00) |
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TOTAL EXPENSES |
10,588,629.27 |
11,168,462.98 |
(579,833.71) |
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Income (Loss)
from Operation |
(330,512.36) |
244,071.50 |
(574,583.86) |
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Other Income
(Loss) |
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Interest Income |
3,035.39 |
5,000.00 |
(1,964.61) |
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Prior Years Adjustment |
0.72 |
0.00 |
0.72 |
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Total Other
Income (Loss) |
6,355.84 |
5,000.00 |
(1,963.89) |
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NET INCOME
(LOSS) |
(327,476.25) |
249,071.50 |
(576,547.75) |
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