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ANNUAL REPORT 2018

 
     
     
 

COMPARATIVE STATEMENT OF INCOME AND EXPENSES

 
 

For the Year Ended December 31, 2018

 
     
 

 

 
 

                            

STATEMENT OF INCOME AND EXPENSES    January 1 - December 31, 2018
  ACTUAL BUDGET      DIFFERENCE       Inc. (Dec.)
INCOME      
SERVICE AND BUSINESS INCOME      
   Waterworks System Fees P     12,202,043.97 P    12,975,051.00  P       (773,007.03) 
   Interest Income 7,478.09 10,000.00 (2,521.91)
   Fines and Penalties - Business Income 508,025.31 348,749.26 159,276.05
   Other Business Income 21,049.23 0.00 21,049.23
   Income from Grants and Donations in Cash 1,500,000.00 0.00 1,500,000.00
   Miscellaneous Income 9,952.00 0.00 9,952.00
       
TOTAL INCOME 14,248,548.60 13,333,800.26 914,748.34
       
EXPENSES      
PERSONNEL SERVICES      
  Salaries and Wages      
   Salaries and Wages - Regular 2,834,468.75 2,834,469.00 (0.25)
   Salaries and Wages - Casual/Contractual 712,250.00 785,400.00 (73,150.00)
   Total Salaries and Wages 3,546,718.75 3,619,869.00 (73,150.25)
  Other Compensation      
   Personal Economic Relief Allowance (PERA) 430,000.00 462,000.00 (32,000.00)
   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 104,181.60 124,200.00 (20,018.40)
   Honoraria 5,000.00 3,500.00 1,500.00
   Overtime and Night Pay 58,059.38 75,000.00 (16,940.62)
   Year End Bonus 284,841.00 298,041.00 (13,200.00)
   Cash Gift 85,000.00 100,000.00 (15,000.00)
   Other Bonuses and Allowances 430,941.00 735,187.00 (304,246.00)
   Total Other Compensation 1,518,022.98 1,917,928.00 (399,905.02)
  Personnel Benefit Contributions      
   Retirement and Life Insurance Premiums 421,962.01 434,384.28 (12,422.27)
   PAG-IBIG Contributions 21,500.00 23,100.00 (1,600.00)
   PHILHEALTH Contributions 47,779.67 51,768.95 (3,989.28)
   Employees Compensation Insurance Premiums 17,964.00 23,100.00 (5,136.00)
   Total Personnel Benefit Contributions 509,205.68 532,353.23 (23,147.55)
  Other Personnel Benefits      
   Terminal Leave Benefits 116,801.95 229,565.55 (112,763.60)
   Other Personnel Benefits 0.00 8,000.00 (8,000.00)
   Total Personnel Benefit Contributions 116,801.95 237,565.55 (120,763.60)
       

Total Personnel Services

5,690,749.36 6,307,715.78 (616,966.42)
       
MAINTENANCE AND OTHER OPERATING EXPENSES      
  Traveling Expenses      
   Traveling Expenses - Local 196,512.00 229,800.00 (33,288.00)
   Total Traveling Expenses 196,512.00 229,800.00 (33,288.00)
  Training and Scholarship Expenses      
   Training Expenses 68,947.00 113,000.00 (44,053.00)
   Total Training and Scholarship Expenses 68,947.00 113,000.00 (44,053.00)
  Supplies and Materials Expenses      
   Office Supplies Expenses 67,806.78 70,000.00 (2,193.22)
   Accountable Forms Expense 149,003.17 150,720.00 (1,716.83)
   Fuel, Oil and Lubricants Expenses 1,031,672.72 1,075,520.00 (43,847.28)
   Chemical and Filtering Supplies Expenses 52,002.64 56,500.00 (4,497.36)
   Semi-Expendable Machinery and Equipment Expenses 22,510.00 25,000.00 (2,490.00)
   Semi-Expendable Furniture, Fixtures and Books Expenses 6,400.00 8,000.00 (1,600.00)
   Other Supplies Expenses 0.00 10,000.00 (10,000.00)
   Other Supplies and Materials Expenses 6,500.00 8,000.00 (1,500.00)
   Total Supplies and Materials Expenses 1,335,895.31 1,403,740.00 (67,844.69)
  Utility Expenses      
   Electricity Expenses 726,988.70 746,000.00 (19,011.30)
   Other Utility Expenses 725.00 4,200.00 (3,475.00)
   Total Utility Expenses 727,713.70 750,200.00 (22,486.30)
  Communication Expenses      
   Postage and Courier Services 3,110.00 6,000.00 (2,890.00)
   Telephone Expenses 32,047.63 36,600.00 (4,552.37)
   Internet Subscription Expenses 23,940.00 24,000.00 (60.00)
   Cable, Satellite, Telegraph and Radio Expenses 4,100.00 3,000.00 1,100.00
   Total Communication Expenses 63,197.63 69,600.00 (6,402.37)
  Professional Services      
   Auditing Services 0.00 75,000.00 (75,000.00)
   Other Professional Services 0.00 3,700.00 (3,700.00)
   Total Professional Services 0.00 78,700.00 (78,700.00)
  Repairs and Maintenance      
   Repairs and Maintenance - Land Improvements 0.00 20,000.00 (20,000.00)
   Repairs and Maintenance - Infrastructure Assets 508,865.97 510,000.00 (1,134.03)
   Repairs and Maintenance - Buildings and Other Structures 23,569.00 50,000.00 (26,431.00)
   Repairs and Maintenance - Machinery and Equipment 1,200.00 30,000.00 (28,800.00)
   Repairs and Maintenance - Transportation Equipment 16,549.00 25,000.00 (8,451.00)
   Repairs and Maintenance - Furniture and Fixtures 0.00 6,000.00 (6,000.00)
   Total Repairs and Maintenance 550,183.97 641,000.00 (90,816.03)
  Taxes, Insurance Premiums and Other Fees      
   Taxes, Duties and Licenses 292,645.83 307,932.22 (15,286.39)
   Fidelity Bond Premiums 7,125.00 15,000.00 (7,875.00)
   Insurance Expenses 47,121.39 141,000.00 (93,878.61)
   Total Taxes, Insurance Premiums and Other Fees 346,892.22 463,932.22 (117,040.00)
  Other Maintenance and Operating Expenses      
   Labor and Wages 600.00 8,800.00 (8,200.00)
   Advertising, Promotional and Marketing Expenses 5,000.00 (10,000.00) (5,000.00)
   Representation Expenses 103,954.00 120,000.00 (16,046.00)
   Rent/Lease Expenses 5,000.00 5,000.00 0.00
   Membership Dues & Contributions to Organizations 8,751.00 9,000.00 (249.00)
   Subscription Expenses 13,192.00 20,000.00 (6,808.00)
   Directors and Committee Members' Fees 177,984.00 194,272.00 (16,288.00)
   Total Other Maintenance and Operating Expenses 314,481.00 367,072.00 (52,591.00)
       

Total Maintenance and Other Operating Expenses

3,603,822.83 4,117,044.22 (513,221.39)
       
FINANCIAL EXPENSES      
  Financial Expenses      
   Interest Expenses 988,666.00 988,666.00 0.00

Total Financial Expenses

988,666.00 988,666.00 0.00
       
NON-CASH EXPENSES      
  Depreciation      
   Depreciation - Land Improvements 3,424.31 3,500.00 (75.69)
   Depreciation - Infrastructure Assets 1,246,208.95 1,620,000.00 (373,791.05)
   Depreciation - Buildings and Other Structures 68,651.52 70,000.00 (1,348.48)
   Depreciation - Machinery and Equipment 36,582.00 69,000.00 (32,418.00)
   Depreciation - Transportation Equipment 19,773.66 18,000.00 1,773.66
   Depreciation - Furniture, Fixtures and Books 0.00 8,500.00 (8,500.00)

Total Depreciation

1,374,640.44 1,789,000.00 (414,359.56)
  Impairment Loss      
   Impairment Loss - Loans and Receivables 775.39 120,000.00 (119,224.61)

Total Impairment Loss

775.39 120,000.00 (119,224.61)
       

Total Non-Cash Expenses

1,375,415.83 1,909,000.00 (533,584.17)
       
TOTAL EXPENSES 11,658,654.02 13,322,426.00 (1,663,771.98)
       

NET INCOME (LOSS)

2,589,894.58 11,374.26 2,578,520.32

 

 

 
   

 

 
 

                         

 
 
 
 
 

 

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