| |
|
|
|
|
|
|
|
|
|
|
 |
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 |
|
|
|
|
|
|
|
|
|
 |
|
|
|
|
|
|
|
