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ANNUAL REPORT 2020

 
     
     
 

COMPARATIVE STATEMENT OF INCOME AND EXPENSES

 
 

For the Year Ended December 31, 2020

 
     
 

 

 
 

                            

STATEMENT OF INCOME AND EXPENSES    January 1 - December 31, 2020
  ACTUAL BUDGET      DIFFERENCE       Inc. (Dec.)
INCOME      
SERVICE AND BUSINESS INCOME      
   Waterworks System Fees P     12,341,773.54 P    13,617,409.00  P    (1,275,635.46) 
   Interest Income 4,512.33 5,000.00 (487.67)
   Fines and Penalties - Business Income 358,615.45 363,315.37 (4,699.92)
   Other Business Income 61,639.31 20,000.00 41,639.31
   Miscellaneous Income 2,250.00 5,000.00 (2,750.00)
       
TOTAL INCOME 12,768,790.63 14,010,724.37 (1,241,933.74)
       
EXPENSES      
PERSONNEL SERVICES      
  Salaries and Wages      
   Salaries and Wages - Regular 3,015,533.50 3,249,625.60 (234,092.10)
   Salaries and Wages - Casual/Contractual 1,158,813.35 1,185,600.00 (26,786.65)
   Total Salaries and Wages 4,174,346.85 4,435,225.60 (260,878.75)
  Other Compensation      
   Personal Economic Relief Allowance (PERA) 412,000.00 432,000.00 (20,000.00)
   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 106,475.00 112,200.00 (5,725.00)
   Honoraria 1,000.00 5,000.00 (4,000.00)
   Hazard Pay 64,750.00 65,000.00 (250.00)
   Overtime and Night Pay 41,943.00 72,000.00 (30,057.00)
   Year End Bonus 340,304.00 356,054.60 (15,750.60)
   Cash Gift 90,000.00 90,000.00 0.00
   Other Bonuses and Allowances 660,617.00 674,063.00 (13,446.00)
   Total Other Compensation 1,837,089.00 1,926,317.60 (89,228.60)
  Personnel Benefit Contributions      
   Retirement and Life Insurance Premiums 471,011.26 511,803.07 (40,791.81)
   PAG-IBIG Contributions 20,600.00 21,600.00 (1,000.00)
   PHILHEALTH Contributions 55,889.44 60,049.96 (4,160.52)
   Employees Compensation Insurance Premiums 19,376.00 21,600.00 (2,224.00)
   Total Personnel Benefit Contributions 566,876.70 615,053.03 (48,176.33)
  Other Personnel Benefits      
   Terminal Leave Benefits 75,776.89 107,897.50 (32,120.61)
   Total Personnel Benefit Contributions 75,776.89 107,897.50 (32,120.61)
       

Total Personnel Services

6,654,089.44 7,084,493.73 (430,404.29)
       
MAINTENANCE AND OTHER OPERATING EXPENSES      
  Traveling Expenses      
   Traveling Expenses - Local 115,745.00 257,600.00 (141,855.00)
   Total Traveling Expenses 115,745.00 257,600.00 (141,855.00)
  Training and Scholarship Expenses      
   Training Expenses 43,852.00 400,000.00 (356,148.00)
   Total Training and Scholarship Expenses 43,852.00 400,000.00 (356,148.00)
  Supplies and Materials Expenses      
   Office Supplies Expenses 56,995.56 70,000.00 (13,004.44)
   Accountable Forms Expense 129,265.48 167,700.00 (38,434.52)
   Fuel, Oil and Lubricants Expenses 264,508.54 384,690.00 (120,181.46)
   Chemical and Filtering Supplies Expenses 40,063.12 75,900.00 (35,836.88)
   Semi-Expendable Machinery and Equipment Expenses 3,465.00 0.00 3,465.00
   Other Supplies Expenses 12,226.00 20,000.00 (7,774.00)
   Total Supplies and Materials Expenses 506,523.70 718,290.00 (211,766.30)
  Utility Expenses      
   Electricity Expenses 783,372.04 1,041,000.00 (257,627.96)
   Total Utility Expenses 783,372.04 1,041,000.00 (257,627.96)
  Communication Expenses      
   Postage and Courier Services 2,569.00 6,000.00 (3,431.00)
   Telephone Expenses 32,102.30 36,600.00 (4,497.70)
   Internet Subscription Expenses 21,939.00 24,000.00 (2,061.00)
   Cable, Satellite, Telegraph and Radio Expenses 720.00 4,800.00 (4,080.00)
   Total Communication Expenses 57,330.30 71,400.00 (14,069.70)
  Repairs and Maintenance      
   Repairs and Maintenance - Land Improvements 0.00 20,000.00 (20,000.00)
   Repairs and Maintenance - Infrastructure Assets 442,016.17 616,800.00 (174,783.83)
   Repairs and Maintenance - Buildings and Other Structures 1,660.00 50,000.00 (48,340.00)
   Repairs and Maintenance - Machinery and Equipment 24,505.00 30,000.00 (5,495.00)
   Repairs and Maintenance - Transportation Equipment 14,890.00 25,000.00 (10,110.00)
   Repairs and Maintenance - Furniture and Fixtures 310.00 6,000.00 (5,690.00)
   Total Repairs and Maintenance 483,381.17 747,800.00 (264,418.83)
  Taxes, Insurance Premiums and Other Fees      
   Taxes, Duties and Licenses 273,692.10 378,889.49 (105,197.39)
   Fidelity Bond Premiums 24,943.17 22,957.50 1,985.67
   Insurance Expenses 43,706.87 141,000.00 (97,293.13)
   Total Taxes, Insurance Premiums and Other Fees 342,342.14 542,846.99 (200,504.85)
  Other Maintenance and Operating Expenses      
   Representation Expenses 53,863.00 120,000.00 (66,137.00)
   Rent/Lease Expenses 2,000.00 2,000.00 0.00
   Membership Dues & Contributions to Organizations 3,008.00 9,300.00 (6,292.00)
   Subscription Expenses 0.00 10,000.00 (10,000.00)
   Directors and Committee Members' Fees 159,552.00 384,000.00 (224,448.00)
   Total Other Maintenance and Operating Expenses 218,423.00 525,300.00 (306,877.00)
       

Total Maintenance and Other Operating Expenses

2,550,969.35 4,304,236.99 (1,753,267.64)
       
FINANCIAL EXPENSES      
  Financial Expenses      
   Interest Expenses 466,217.00 810,000.00 (343,783.00)

Total Financial Expenses

466,217.00 810,000.00 (433,783.00)
       
NON-CASH EXPENSES      
  Depreciation      
   Depreciation - Land Improvements 3,424.31 3,500.00 (75.69)
   Depreciation - Infrastructure Assets 1,592,253.84 1,400,000.00 192,253.84
   Depreciation - Buildings and Other Structures 61,838.97 70,000.00 (8,161.03)
   Depreciation - Machinery and Equipment 94,073.94 38,000.00 56,073.94
   Depreciation - Transportation Equipment 28,760.79 30,000.00 (1,239.21)

Total Depreciation

1,780,351.85 1,541,500.00 238,851.85
  Impairment Loss      
   Impairment Loss - Loans and Receivables 8,325.97 150,000.00 (141,674.03)

Total Impairment Loss

8,325.97 150,000.00 (141,674.03)
       

Total Non-Cash Expenses

1,788,677.82 1,691,500.00 97,177.82
       
TOTAL EXPENSES 11,459,953.61 13,890,230.72 (2,430,277.11)
       

NET INCOME (LOSS)

1,308,837.02 120,493.65 1,888,343.37

 

 

 
   

 

 
 

                         

 
 
 
 
 

 

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