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ANNUAL REPORT 2016 |
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COMPARATIVE
STATEMENT OF INCOME AND EXPENSES |
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For
the Calendar Year Ended
December 31, 2016 |
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STATEMENT OF INCOME AND EXPENSES - 2016 |
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ACTUAL |
BUDGET |
DIFFERENCE
Inc. (Dec.) |
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INCOME |
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Income from Waterworks System |
P
10,812,420.93 |
P
10,873,338.00 |
P
(60,917.07) |
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Other Business Income |
535,089.88 |
280,000.00 |
(255,089.88) |
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Fines and Penalties |
551,464.02 |
535,818.90 |
15,645.12 |
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GROSS INCOME |
11,898,974.83 |
11,689,156.90 |
209,817.93 |
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LESS:
EXPENSES |
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PERSONAL
SERVICES |
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Salaries and Wages - Regular |
2,117,053.34 |
2,594,076.00 |
(477,022.66) |
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Salaries
and Wages - Contractual |
354,120.81 |
366,300.00 |
(12,179.19) |
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Personal
Economic Relief Allowance (PERA) |
224,000.00 |
264,000.00 |
(40,000.00) |
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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 |
0.00 |
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Clothing/Uniform Allowance |
57,436.00 |
65,000.00 |
(7,564.00) |
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Productivity Incentive Allowance |
0.00 |
22,000.00 |
(22,000.00) |
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Other Bonuses and Allowances |
285,273.00 |
310,973.00 |
(25,700.00) |
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Honoraria |
3,500.00 |
0.00 |
3,500.00 |
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Overtime and Night Pay |
16,665.73 |
18,000.00 |
(1,334.27) |
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Cash Gift |
47,500.00 |
55,000.00 |
(7,500.00) |
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Year End Bonus |
207,773.00 |
216,173.00 |
(8,400.00) |
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Life and Retirement Insurance Contributions |
255,797.73 |
311,289.12 |
(55,491.39) |
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PAG-IBIG Contributions |
11,200.00 |
13,200.00 |
(2,000.00) |
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PHILHEALTH Contributions |
25,000.00 |
28,950.00 |
(3,950.00) |
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ECC - Contributions |
11,200.00 |
13,200.00 |
(2,000.00) |
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Terminal Leave Benefits |
142,108.37 |
144,51619 |
(2,407.82) |
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Provident Fund Benefits |
0.00 |
16,272.12 |
(16,272.12) |
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Other Personal Benefits |
9,780.00 |
0.00 |
9,780.00 |
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Total
Personal Services |
3,888,407.98 |
4,558,949.43 |
(670,541.45) |
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MAINTENANCE
AND OTHER OPERATING EXPENSES |
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Travelling Expenses - Local |
145,570.72 |
170,000.00 |
(24,429.28) |
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Training Expenses |
161,593.70 |
240,000.00 |
(78,406.30) |
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Office Supplies Expenses |
56,186.53 |
60,000.00 |
(3,813.47) |
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Accountable Forms Expense |
90,188.73 |
98,820.00 |
(8,631.27) |
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Gasoline, Oil and Lubricants Expenses |
303,523.15 |
523,440.00 |
(219,916.85) |
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Other Supplies Expenses |
29,257.86 |
67,230.00 |
(37,972.14) |
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Electricity Expense |
422,603.06 |
342,000.00 |
80,603.06 |
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Postage and Deliveries |
1,115.00 |
6,000.00 |
(4,885.00) |
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Telephone Expenses - Landline |
10,361.82 |
18,000.00 |
(7,638.18) |
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Telephone Expenses - Mobile |
17,276.00 |
24,000.00 |
(6,724.00) |
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Internet Expenses |
21,728.75 |
14,400.00 |
7,328.75 |
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Cable, Satellite, Telegraph and Radio
Expenses |
1,490.00 |
2,400.00 |
(910.00) |
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Membership Dues & Contributions to
Organization |
8,061.00 |
9,000.00 |
(939.00) |
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Advertising Expenses |
5,000.00 |
10,000.00 |
(5,000.00) |
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Rent Expense |
5,000.00 |
2,000.00 |
3,000.00 |
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Representation Expenses |
91,415.00 |
140,000.00 |
(48,585.00) |
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Rewards and Other Claims |
0.00 |
0.00 |
0.00 |
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Legal Services |
0.00 |
0.00 |
0.00 |
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Auditing Services |
0.00 |
0.00 |
0.00 |
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Board Members Allowances and Other Benefits |
179,424.00 |
214,272.00 |
(34,848.00) |
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Repairs and Maintenance - Land Improvements |
0.00 |
10,000.00 |
(10,000.00) |
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Repairs and Maintenance - Water System and
Structures |
639,303.53 |
807,900.00 |
(168,596.47) |
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Repairs and Maintenance - Office Buildings |
9,687.00 |
50,000.00 |
(40,313.00) |
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Repairs and Maintenance - Office Equipment |
4,000.00 |
8,000.00 |
(4,000.00) |
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Repairs and Maintenance - Furniture &
Fixtures |
0.00 |
6,000.00 |
(6,000.00) |
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Repairs and Maintenance - IT Equipment |
7,300.00 |
10,000.00 |
(2,700.00) |
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Repairs and Maintenance - Machineries |
0.00 |
3,000.00 |
(3,000.00) |
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Repairs and Maintenance - Communication
Equipment |
200.00 |
1,000.00 |
(800.00) |
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Repairs and Maintenance - Other Machineries
& Equipment |
0.00 |
0.00 |
0.00 |
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Repairs and Maintenance - Motor Vehicles |
33,710.05 |
24,000.00 |
9,710.00 |
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Repairs and Maintenance - Reforestation |
0.00 |
18,000.00 |
(18,000.00) |
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Donations |
0.00 |
0.00 |
0.00 |
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Taxes, Duties and Licenses |
262,693.23 |
249,681.35 |
13,011.88 |
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Fidelity Bond Premiums |
5,049.96 |
6,000.00 |
(950.04) |
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Insurance Expenses |
39,888.12 |
67,000.00 |
(27,111.85) |
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Bad Debts Expense |
105,321.41 |
130,000.00 |
(24,678.59) |
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Depreciation - Land Improvement |
3,424.31 |
3,500.00 |
(75.69) |
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Depreciation - Water System and Structures |
1,214,620.61 |
1,645,600.00 |
(430,979.39) |
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Depreciation - Office Buildings |
68,683.68 |
68,700.00 |
(16.32) |
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Depreciation - Office Equipment |
16,618.43 |
12,700.00 |
3,918.43 |
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Depreciation - Furniture and Fixtures |
8,415.11 |
10,500.00 |
(2,804.89) |
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Depreciation - IT Equipment |
26,261.82 |
23,500.00 |
(2,761.82) |
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Depreciation - Machineries |
2,285.10 |
6,000.00 |
(3,714.90) |
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Depreciation - Communication Equipment |
1,012.05 |
3,000.00 |
(1,987.95) |
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Depreciation - Other Machineries and
Equipment |
885.32 |
6,500.00 |
(5,614.68) |
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Depreciation - Motor Vehicles |
13,556.82 |
20,000.00 |
(6,443.18( |
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Total
Maintenance and Other Operating Expenses |
4,012,711.87 |
5,132,143.35 |
(1,119,431.48) |
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FINANCIAL
EXPENSES |
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Bank Charges |
0.00 |
0.00 |
0.00 |
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Interest Expense |
1,145,880.00 |
1,516,930.00 |
(371,050.00) |
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Total
Financial Expenses |
1,145,880.00 |
1,516,930.00 |
(371,050.00) |
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TOTAL EXPENSES |
9,046,999.85 |
11,208,022.78 |
(2,161,022.93) |
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Income (Loss)
from Operation |
2,851,974.98 |
481,134.12 |
2,370,840.86 |
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Other Income
(Loss) |
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Interest Income |
9,061.46 |
2,000.00 |
7,061.46 |
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Miscellaneous Income |
3,500.00 |
0.00 |
3,500.00 |
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Prior Years Adjustment |
(180,000.00) |
0.00 |
(180,000.00) |
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Total Other
Income (Loss) |
(167,438.54) |
2,000.00 |
(169,438.54) |
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NET INCOME
(LOSS) |
2,684,536.44 |
483,134.12 |
2,201,402.32 |
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