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ANNUAL REPORT 2017 |
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COMPARATIVE
STATEMENT OF INCOME AND EXPENSES |
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For
the Calendar Year Ended
December 31, 2017 |
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STATEMENT OF INCOME AND EXPENSES
January 1 - December 31, 2017 |
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ACTUAL |
BUDGET |
DIFFERENCE
Inc. (Dec.) |
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INCOME |
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SERVICE AND BUSINESS INCOME |
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Waterworks System Fees |
P
11,624,521.92 |
P
11,421,516.00 |
P
203,005.92 |
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Interest Income |
8,925.00 |
5,000.00 |
3,925.00 |
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Fines and
Penalties - Business Income |
515,967.79 |
371,199.27 |
144,768.52 |
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Other Business Income |
566,951.67 |
508,880.00 |
58,071.67 |
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Total
Business Income |
12,716,366.38 |
12,306,595.27 |
409,771.11 |
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OTHER NON-OPERATING INCOME |
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Miscellaneous Income |
5,500.00 |
0.00 |
5,500.00 |
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Total
Non-Operating Income |
5,500.00 |
0.00 |
5,500.00 |
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TOTAL INCOME |
12,721,866.38 |
12,306,595.27 |
415,271.11 |
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LESS:
EXPENSES |
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PERSONAL
SERVICES |
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Salaries and Wages - Regular |
2,758,816.50 |
2,850,746.00 |
(91,929.50) |
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Salaries
and Wages - Contractual |
403,435.70 |
730,575.00 |
(327,139.30) |
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Personal
Economic Relief Allowance (PERA) |
240,000.00 |
250,000.00 |
(10,000.00) |
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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 |
60,249.00 |
62,500.00 |
(2,251.00) |
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Honoraria |
5,000.00 |
0.00 |
5,000.00 |
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Overtime and Night Pay |
0.00 |
18,000.00 |
(18,000.00) |
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Year End Bonus |
230,957.00 |
249,174.00 |
(18,217.00) |
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Cash Gift |
50,000.00 |
50,000.00 |
0.00 |
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Other Bonuses and Allowances |
383,708.00 |
606,348.28 |
(222,640.28) |
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Retirement and Life Insurance Premiums |
330,918.12 |
342,089.52 |
(11,171.40) |
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PAG-IBIG Contributions |
12,000.00 |
12,500.00 |
(500.00) |
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PHILHEALTH Contributions |
29,125.00 |
30,375.00 |
(1,250.00) |
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Employees Compensation Insurance Premiums |
12,000.00 |
12,500.00 |
(500.00) |
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Terminal Leave Benefits |
107,701.67 |
205,960.91 |
(98,259.24) |
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Other Personnel Benefits |
3,500.00 |
4,000.00 |
(500.00) |
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Provident/Welfare Fund Contributions |
0.00 |
22,478.30 |
(22,478.30) |
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Total
Personal Services |
4,747,410.99 |
5,567,247.01 |
(819,836.02) |
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MAINTENANCE
AND OTHER OPERATING EXPENSES |
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Traveling Expenses - Local |
175,809.00 |
281,640.00 |
(105,831.00) |
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Training Expenses |
208,000.23 |
300,000.00 |
(91,999.77) |
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Office Supplies Expenses |
57,114.64 |
80,000.00 |
(22,885.36) |
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Accountable Forms Expense |
115,935.57 |
156,600.00 |
(40,664.43) |
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Fuel, Oil and Lubricants Expenses |
290,302.12 |
419,100.00 |
(128,797.88) |
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Chemical and Filtering Supplies
Expenses |
48,462.70 |
102,500.00 |
(54,037.30) |
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Semi-Expendable Machinery and Equipment xpenses |
31,734.00 |
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31,734.00 |
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Semi-Expendable Furniture,
Fixtures and Books Expenses |
4,901.20 |
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4,901.20 |
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Electricity Expenses |
483,334.64 |
500,000.00 |
(16,665.36) |
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Postage and Courier Services |
2,510.00 |
6,000.00 |
(3,490.00) |
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Telephone Expenses |
31,753.33 |
35,000.00 |
(3,246.67) |
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Internet Subscription Expenses |
21,968.70 |
24,000.00 |
(2,031.30) |
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Cable, Satellite, Telegraph and Radio
Expenses |
1,980.00 |
2,400.00 |
(420.00) |
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Repairs and Maintenance - Land Improvements |
0.00 |
25,000.00 |
(25,000.00) |
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Repairs and Maintenance - Infrastructure
Assets |
952,259.13 |
946,840.00 |
5,419.13 |
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Repairs and Maintenance - Buildings and
Other Structures |
1,990.00 |
50,000.00 |
(48,010.00) |
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Repairs and Maintenance - Machinery and Equipment |
4,975.00 |
30,000.00 |
(25,025.00) |
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Repairs and Maintenance - Transportation
Equipment |
24,210.00 |
25,000.00 |
(790.00) |
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Repairs and Maintenance - Furniture and
Fixtures |
85.00 |
6,000.00 |
(5,915.00) |
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Taxes, Duties and Licenses |
288,966.47 |
360,195.32 |
(71,228.85) |
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Fidelity Bond Premiums |
7,500.00 |
6,000.00 |
1,500.00 |
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Insurance Expenses |
41,896.62 |
67,000.00 |
(25,103.38) |
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Advertising, Promotional and Marketing Expenses |
25,074.75 |
102,500.00 |
(77,425.25) |
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Representation Expenses |
67,245.00 |
140,000.00 |
(72,755.00) |
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Rent/Lease Expenses |
5,000.00 |
2,000.00 |
3,000.00 |
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Membership Dues & Contributions to
Organizations |
2,687.00 |
9,000.00 |
(6,313.00) |
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Subscription Expenses |
6,664.00 |
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6,664.00 |
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Auditing Services |
0.00 |
100,000.00 |
(100,000.00) |
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Directors and Committee Members' Fees |
202,752.00 |
214,272.00 |
(11,520.00) |
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Total
Maintenance and Other Operating Expenses |
3,105,111.10 |
3,991,047.32 |
(885,936.22) |
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FINANCIAL
EXPENSES |
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Interest Expenses |
1,070,485.00 |
1,070,485.00 |
0.00 |
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Total
Financial Expenses |
1,070,485.00 |
1,070,485.00 |
0.00 |
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NON-CASH
EXPENSES |
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DEPRECIATION |
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Depreciation - Land Improvements |
3,241.31 |
3,421.31 |
0.00 |
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Depreciation - Infrastructure Assets |
1,233,945.70 |
1,617,321.48 |
(383,375.78) |
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Depreciation - Buildings and Other
Structures |
68,651.52 |
68,683.68 |
(32.16) |
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Depreciation - Machinery and Equipment |
29,876.87 |
67,906.54 |
(38,029.67) |
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Depreciation - Transportation Equipment |
10,786.50 |
17,536.50 |
(6,750.00) |
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Depreciation - Furniture, Fixtures and Books |
0.00 |
8,252.16 |
(8,252.16) |
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Total
Depreciation |
1,346,684.90 |
1,783,124.67 |
(436,439.77) |
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IMPAIRMENT LOSS |
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Impairment Loss - Loans and Receivables |
104,405.31 |
110,400.00 |
(5,994.69) |
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Total
Impairment Loss |
104,405.31 |
110,400.00 |
(5,994.69) |
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Total
Non-Cash Expenses |
1,451,090.21 |
1,893,524.67 |
(442,434.46) |
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TOTAL
EXPENSES |
10,374,097.30 |
12,522,304.00 |
(2,148,206.70) |
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NET INCOME
(LOSS) |
2,347,769.08 |
(215,708.73) |
2,563,477.81 |
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