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ANNUAL REPORT 2015

 
     
     
 

COMPARATIVE STATEMENT OF INCOME AND EXPENSES

 
 

For the Calendar Year Ended December 31, 2015

 
     
 

 

 
 

                            

STATEMENT OF INCOME AND EXPENSES - 2015
  ACTUAL BUDGET      DIFFERENCE       Inc. (Dec.)
INCOME      
   Income from Waterworks System P      9,397,844.31 P    10,790,844.00  P    (1,392,999.69) 
   Other Business Income 363,844.44 642,180.00 (278,291.56)
   Fines and Penalties 492,079.00 431,633.76 60,445.24

GROSS INCOME

10,253,811.75 11,864,657.76 (1,610,846.01)
       
LESS:  EXPENSES      
PERSONAL SERVICES      
   Salaries and Wages - Regular 2,284,963.55 2,569,956.00 (284,992.45)
   Salaries and Wages - Contractual 287,857.85 372,570.00 (84,712.15)
   Personal Economic Relief Allowance (PERA) 237,000.00 264,000.00 (27,000.00)
   Representation Allowance (RA) 60,000.00 60,000.00 0.00
   Transportation Allowance (TA) 60,000.00 60,000.00 0.00
   Clothing/Uniform Allowance 61,630.00 67,000.00 (5,370.00)
   Productivity Incentive Allowance 20,000.00 22,000.00 (2,000.00)
   Other Bonuses and Allowances 291,482.00 273,000.00 18,482.00
   Honoraria 10,000.00 0.00 10,000.00
   Overtime and Night Pay 16,059.26 75,000.00 (58,940.74)
   Cash Gift 49,750.00 55,000.00 (5,250.00)
   Year End Bonus 198,754.50 214,163.00 (15,408.50)
   Life and Retirement Insurance Contributions 271,878.48 308,394.72 (36,516.24)
   PAG-IBIG Contributions 11,700.00 13,200.00 (1,500.00)
   PHILHEALTH Contributions 25,537.50 28,644.00 (3,106.50)
   ECC - Contributions 11,700.00 13,200.00 (1,500.00)
   Terminal Leave Benefits 234,814.51 150,000.00 84,814.51
   Provident Fund Benefits 14,968.60 25,699.56 (10,730.96)
   Other Personal Benefits 0.00 22,000.00 (22,000.00)

Total Personal Services

4,148,096.25 4,593,827.28 (445,731.03)
       
MAINTENANCE AND OTHER OPERATING EXPENSES      
   Travelling Expenses - Local 179,805.08 155,080.00 24,725.08
   Training Expenses 62,409.00 255,400.00 (192,991.00)
   Office Supplies Expenses 55,443.84 75,000.00 (19,556.16)
   Accountable Forms Expense 90,133.00 30,000.00 60,133.00
   Gasoline, Oil and Lubricants Expenses 799,593.85 1,300,000.00 (500,406.15)
   Other Supplies Expenses 21,989.42 25,000.00 (3,010.58)
   Electricity Expense 114,535.55 150,000.00 (35,464.45)
   Postage and Deliveries 1,630.00 5,000.00 (3,370.00)
   Telephone Expenses - Landline 8,521.78 15,000.00 (6,478.22)
   Telephone Expenses - Mobile 18,559.00 32,400.00 (13,841.00)
   Internet Expenses 12,418.06 12,000.00 418.06
   Cable, Satellite, Telegraph and Radio Expenses 2,600.00 5,000.00 (2,400.00)
   Membership Dues & Contributions to Organization 5,517.60 5,000.00 517.60
   Advertising Expenses 10,000.0 35,000.00 (25,000.00)
   Rent Expense 2,000.00 2,000.00 0.00
   Representation Expenses 125,009.20 60,000.00 65,009.20
   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 181,152.00 360,000.00 (178,848.00)
   Repairs and Maintenance - Land Improvements 8,647.50 0.00 8,647.50
   Repairs and Maintenance - Water System and Structures 669,854.61 500,000.00 169,854.61
   Repairs and Maintenance - Office Buildings 5,785.00 5,000.00 785.00
   Repairs and Maintenance - Office Equipment 2,400.00 5,000.00 (2,600.00)
   Repairs and Maintenance - Furniture & Fixtures 200.00 5,000.00 (4,800.00)
   Repairs and Maintenance - IT Equipment 550.00 5,000.00 (4,450.00)
   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 12,719.00 25,000.00 (12,281.00)
   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 237,417.04 275,000.00 (37,582.96)
   Fidelity Bond Premiums 3,862.54 5,000.00 (1,137.46)
   Insurance Expenses 39,888.06 30,000.00 9,888.06
   Bad Debts Expense 103,873.17 75,000.00 28,873.17
   Depreciation - Land Improvement 3,424.31 5,000.00 (1,575.69)
   Depreciation - Water System and Structures 1,192,914.53 1,445,000.00 (252,085.47)
   Depreciation - Office Buildings 68,683.68 70,000.00 (1,316.32)
   Depreciation - Office Equipment 23,304.95 20,000.00 3,304.95
   Depreciation - Furniture and Fixtures 9,044.99 10,000.00 (955.01)
   Depreciation - IT Equipment 23,045.82 20,000.00 3,045.82
   Depreciation - Machineries 1,482.83 5,000.00 (3,517.17)
   Depreciation - Communication Equipment 1,761.30 3,500.00 (1,738.70)
   Depreciation - Other Machineries and Equipment 3,179.84 14,000.00 (10,820.16)
   Depreciation - Motor Vehicles 12,731.53 20,000.00 (7,268.47)

Total Maintenance and Other Operating Expenses

4,116,088.08 5,146,380.00 (1,030,291.92)
       
FINANCIAL EXPENSES      
   Bank Charges 0.00 1,000.00 (1,000.00)
   Interest Expense 1,215,362.00 1,809,399.00 (594,037.00)

Total Financial Expenses

1,215,362.00 1,810,399.00 (595,037.00)
       

TOTAL EXPENSES

9,479,546.33 11,550,606.28 (2,071,059.95)
       

Income (Loss) from Operation

774,265.42 314,051.48 460,213.94
       

Other Income (Loss)

     
   Interest Income 7,649.10 5,000.00          2,649.10
   Miscellaneous Income 17,000.00 0.00 17,000.00
   Prior Years Adjustment (26,509.10) 0.00         (26,509.10)

Total Other Income (Loss)

(1,860.00) 5,000.00 (6,860.00)
       

NET INCOME (LOSS)

772,405.42 319,051.48 453,353.94

 

 

 
   

 

 
 

                         

 
 
 
 
 

 

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