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ANNUAL REPORT 2017

 
     
     
 

COMPARATIVE STATEMENT OF INCOME AND EXPENSES

 
 

For the Calendar Year Ended December 31, 2017

 
     
 

 

 
 

                            

STATEMENT OF INCOME AND EXPENSES    January 1 - December 31, 2017
  ACTUAL BUDGET      DIFFERENCE       Inc. (Dec.)
INCOME      
SERVICE AND BUSINESS INCOME      
   Waterworks System Fees P     11,624,521.92 P    11,421,516.00  P       203,005.92 
   Interest Income 8,925.00 5,000.00 3,925.00
   Fines and Penalties - Business Income 515,967.79 371,199.27 144,768.52
   Other Business Income 566,951.67 508,880.00 58,071.67

Total Business Income

12,716,366.38 12,306,595.27 409,771.11
       
OTHER NON-OPERATING INCOME      
   Miscellaneous Income 5,500.00 0.00 5,500.00

Total Non-Operating Income

5,500.00 0.00 5,500.00
       
TOTAL INCOME

12,721,866.38

12,306,595.27 415,271.11 
       
LESS:  EXPENSES      
PERSONAL SERVICES      
   Salaries and Wages - Regular 2,758,816.50 2,850,746.00 (91,929.50)
   Salaries and Wages - Contractual 403,435.70 730,575.00 (327,139.30)
   Personal Economic Relief Allowance (PERA) 240,000.00 250,000.00 (10,000.00)
   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 60,249.00 62,500.00 (2,251.00)
   Honoraria 5,000.00 0.00 5,000.00
   Overtime and Night Pay 0.00 18,000.00 (18,000.00)
   Year End Bonus 230,957.00 249,174.00 (18,217.00)
   Cash Gift 50,000.00 50,000.00 0.00
   Other Bonuses and Allowances 383,708.00 606,348.28 (222,640.28)
   Retirement and Life Insurance Premiums 330,918.12 342,089.52 (11,171.40)
   PAG-IBIG Contributions 12,000.00 12,500.00 (500.00)
   PHILHEALTH Contributions 29,125.00 30,375.00 (1,250.00)
   Employees Compensation Insurance Premiums 12,000.00 12,500.00 (500.00)
   Terminal Leave Benefits 107,701.67 205,960.91 (98,259.24)
   Other Personnel Benefits 3,500.00 4,000.00 (500.00)
   Provident/Welfare Fund Contributions 0.00 22,478.30 (22,478.30)

Total Personal Services

4,747,410.99 5,567,247.01 (819,836.02)
       
MAINTENANCE AND OTHER OPERATING EXPENSES      
   Traveling Expenses - Local 175,809.00 281,640.00 (105,831.00)
   Training Expenses 208,000.23 300,000.00 (91,999.77)
   Office Supplies Expenses 57,114.64 80,000.00 (22,885.36)
   Accountable Forms Expense 115,935.57 156,600.00 (40,664.43)
   Fuel, Oil and Lubricants Expenses 290,302.12 419,100.00 (128,797.88)
   Chemical and Filtering Supplies Expenses 48,462.70 102,500.00 (54,037.30)
   Semi-Expendable Machinery and Equipment xpenses 31,734.00   31,734.00
   Semi-Expendable Furniture, Fixtures and Books Expenses 4,901.20   4,901.20
   Electricity Expenses 483,334.64 500,000.00 (16,665.36)
   Postage and Courier Services 2,510.00 6,000.00 (3,490.00)
   Telephone Expenses 31,753.33 35,000.00 (3,246.67)
   Internet Subscription Expenses 21,968.70 24,000.00 (2,031.30)
   Cable, Satellite, Telegraph and Radio Expenses 1,980.00 2,400.00 (420.00)
   Repairs and Maintenance - Land Improvements 0.00 25,000.00 (25,000.00)
   Repairs and Maintenance - Infrastructure Assets 952,259.13 946,840.00 5,419.13
   Repairs and Maintenance - Buildings and Other Structures 1,990.00 50,000.00 (48,010.00)
   Repairs and Maintenance - Machinery and Equipment 4,975.00 30,000.00 (25,025.00)
   Repairs and Maintenance - Transportation Equipment 24,210.00 25,000.00 (790.00)
   Repairs and Maintenance - Furniture and Fixtures 85.00 6,000.00 (5,915.00)
   Taxes, Duties and Licenses 288,966.47 360,195.32 (71,228.85)
   Fidelity Bond Premiums 7,500.00 6,000.00 1,500.00
   Insurance Expenses 41,896.62 67,000.00 (25,103.38)
   Advertising, Promotional and Marketing Expenses 25,074.75 102,500.00 (77,425.25)
   Representation Expenses 67,245.00 140,000.00 (72,755.00)
   Rent/Lease Expenses 5,000.00 2,000.00 3,000.00
   Membership Dues & Contributions to Organizations 2,687.00 9,000.00 (6,313.00)
   Subscription Expenses 6,664.00   6,664.00
   Auditing Services 0.00 100,000.00 (100,000.00)
   Directors and Committee Members' Fees 202,752.00 214,272.00 (11,520.00)

Total Maintenance and Other Operating Expenses

3,105,111.10 3,991,047.32 (885,936.22)
       
FINANCIAL EXPENSES      
   Interest Expenses 1,070,485.00 1,070,485.00 0.00

Total Financial Expenses

1,070,485.00 1,070,485.00 0.00
       
NON-CASH EXPENSES      
  DEPRECIATION      
   Depreciation - Land Improvements 3,241.31 3,421.31 0.00
   Depreciation - Infrastructure Assets 1,233,945.70 1,617,321.48 (383,375.78)
   Depreciation - Buildings and Other Structures 68,651.52 68,683.68 (32.16)
   Depreciation - Machinery and Equipment 29,876.87 67,906.54 (38,029.67)
   Depreciation - Transportation Equipment 10,786.50 17,536.50 (6,750.00)
   Depreciation - Furniture, Fixtures and Books 0.00 8,252.16 (8,252.16)

Total Depreciation

1,346,684.90 1,783,124.67 (436,439.77)
       
  IMPAIRMENT LOSS      
   Impairment Loss - Loans and Receivables 104,405.31 110,400.00 (5,994.69)

Total Impairment Loss

104,405.31 110,400.00 (5,994.69)
       

Total Non-Cash Expenses

1,451,090.21 1,893,524.67 (442,434.46)
       
TOTAL EXPENSES

10,374,097.30

12,522,304.00 (2,148,206.70)
       

NET INCOME (LOSS)

2,347,769.08 (215,708.73) 2,563,477.81

 

 

 
   

 

 
 

                         

 
 
 
 
 

 

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