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ANNUAL REPORT 2014

 
     
     
 

COMPARATIVE STATEMENT OF INCOME AND EXPENSES

 
 

For the Calendar Year Ended December 31, 2014

 
     
 

 

 
 

                            

STATEMENT OF INCOME AND EXPENSES - 2014
  ACTUAL BUDGET      DIFFERENCE       Inc. (Dec.)
INCOME      
   Income from Waterworks System P      9,389,130.73 P    10,418,937.00  P   (1,029,806.27) 
   Other Business Income 375,931.11 576,840.00 (200,908.89)
   Fines and Penalties 493,055.07 416,757.48 76,297.59

GROSS INCOME

10,258,116.91 11,412,534.48 (1,154,417.57)
       
LESS:  EXPENSES      
PERSONAL SERVICES      
   Salaries and Wages - Regular 2,284,348.50 2,405,727.00 (121,378.50)
   Salaries and Wages - Contractual 281,124.35 369,570.00 (88,445.65)
   Personal Economic Relief Allowance (PERA) 264,000.0 264,000.00 0.00
   Representation Allowance (RA) 60,000.00 60,000.00 0.00
   Transportation Allowance (TA) 60,000.00 60,000.00 0.0
   Clothing/Uniform Allowance 65,325.00 67,000.00 (1,675.00)
   Productivity Incentive Allowance 22,000.00 22,000.00 0.00
   Other Bonuses and Allowances 208,080.00 418,000.00 (209,920.00)
   Overtime and Night Pay 137,122.78 120,000.00 17,122.00
   Cash Gift 55,000.00 55,000.00 0.00
   Year End Bonus 214,163.00 208,750.00 5,413.00
   Life and Retirement Insurance Contributions 276,406.68 281,508.84 (5,102.16)
   PAG-IBIG Contributions 13,200.00 13,200.00 0.00
   PHILHEALTH Contributions 25,875.00 28,044.00 (2,169.00)
   ECC - Contributions 13,060.00 13,200.00 (140.00)
   Terminal Leave Benefits 167,316.79 150,000.00 17,316.79
   Provident Fund Benefits 15,922.69 24,057.27 (8,134.58)
   Other Personal Benefits 0.00 22,000.00 (22,000.00)

Total Personal Services

4,162,944.79 4,582,057.11 (419,112.32)
       
MAINTENANCE AND OTHER OPERATING EXPENSES      
   Traveling Expenses - Local 185,776.25 139,360.00 46,416.25
   Training Expenses 18,663.00 255,400.00 (236,737.00)
   Office Supplies Expenses 65,122.29 75,000.00 (9,877.71)
   Accountable Forms Expense 68,934.00 30,000.00 38,934.00
   Gasoline, Oil and Lubricants Expenses 1,328,598.00 700,000.00 628,598.00
   Other Supplies Expenses 19,438.05 25,000.00 (5,561.95)
   Electricity Expense 151,783.79 250,000.00 (98,216.21)
   Postage and Deliveries 1,080.00 5,000.00 (3,920.00)
   Telephone Expenses - Landline 14,719.24 15,000.00 (280.76)
   Telephone Expenses - Mobile 19,331.00 32,400.00 (13,069.00)
   Internet Expenses 10,989.00 12,000.00 (1,011.00)
   Cable, Satellite, Telegraph and Radio Expenses 1,820.00 5,000.00 (3,180.00)
   Membership Dues & Contributions to Organization 5,517.60 5,000.00 517.60
   Advertising Expenses 0.00 35,000.00 (35,000.00)
   Rent Expense 2,000.00 2,000.00 0.00
   Representation Expenses 127,414.00 60,000.00 67,414.00
   Rewards and Other Claims 0.00 5,000.00 (5,000.00)
   Legal Services 0.00 5,000.00 (5,000.00)
   Auditing Services 0.00 30,000.00 (30,000.00)
   Board Members Allowances and Other Benefits 176,832.00 435,000.00 (258,168.00)
   Repairs and Maintenance - Water System and Structures 641,629.88 500,000.00 141,629.88
   Repairs and Maintenance - Office Buildings 2,115.00 5,000.00 (2,885.00)
   Repairs and Maintenance - Office Equipment 822.00 5,000.00 (4,178.00)
   Repairs and Maintenance - Furniture & Fixtures 0.00 5,000.00 (5,000.00)
   Repairs and Maintenance - IT Equipment 2,622.00 5,000.00 (2,378.00)
   Repairs and Maintenance - Machineries 0.00 5,000.00 (5,000.00)
   Repairs and Maintenance - Communication Equipment 0.00 5,000.00 (5,000.00)
   Repairs and Maintenance - Other Machineries & Equipment 0.00 5,000.00 (5,000.00)
   Repairs and Maintenance - Motor Vehicles 18,413.00 25,000.00 (6,587.00)
   Repairs and Maintenance - Reforestation 0.00 15,000.00 (15,000.00)
   Donations 0.00 12,000.00 (12,000.00)
   Taxes, Duties and Licenses 233,123.48 275,000.00 (41,876.52)
   Fidelity Bond Premiums 3,975.00 5,000.00 (1,025.00)
   Insurance Expenses 33,924.49 30,000.00 3,924.49
   Bad Debts Expense 101,460.48 75,000.00 26,460.48
   Depreciation - Land Improvement 3,424.31 0.00 3,424.31
   Depreciation - Water System and Structures 1,169,427.82 1,450,000.00 (280,572.18)
   Depreciation - Office Buildings 68,683.68 70,000.00 (1,316.32)
   Depreciation - Office Equipment 9,668.96 5,000.00 4,668.96
   Depreciation - Furniture and Fixtures 10,415.02 10,000.00 415.02
   Depreciation - IT Equipment 23,417.01 20,000.00 3,417.01
   Depreciation - Machineries 1,800.00 20,000.00 (18,200.00)
   Depreciation - Communication Equipment 1,761.30 3,500.00 (1,738.70)
   Depreciation - Other Machineries and Equipment 6,348.67 14,000.00 (7,651.33)
   Depreciation - Motor Vehicles 14,888.29 20,000.00 (5,111.71)

Total Maintenance and Other Operating Expenses

4,545,938.61 4,705,660.00 (159,721.39)
       
FINANCIAL EXPENSES      
   Bank Charges 0.00 1,000.00 (1,000.00)
   Interest Expense 1,879,745.87 1,879,745.87 0.00

Total Financial Expenses

1,879,745.87 1,880,745.87 (1,000.00)
       

TOTAL EXPENSES

10,588,629.27 11,168,462.98 (579,833.71)
       

Income (Loss) from Operation

(330,512.36) 244,071.50 (574,583.86)
       

Other Income (Loss)

     
   Interest Income 3,035.39 5,000.00     (1,964.61)
   Prior Years Adjustment 0.72 0.00     0.72

Total Other Income (Loss)

6,355.84 5,000.00 (1,963.89)
       

NET INCOME (LOSS)

(327,476.25) 249,071.50 (576,547.75)

 

 

 
   

 

 
 

                         

 
 
 
 
 

 

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