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Note 9 - Accumulated Surplus /Deficit

Changes of the Agency’s Accumulated Surplus /Deficit account are stated as follows:
Increase
Particulars 2016 2015
(Decrease)
Balance beginning
Changes in Accounting Policy (493,961.00) (2,145,935.23) 1,651,974.23
Prior Year Adjustment 144,473.42 369,069.43 (224,596.01)
Restated Balance (349,487.58) (1,776,865.80) 1,427,378.22
Changes in Net Assets/Equity
Surplus (deficit) for the period (116,996.19) 1,282,904.80 (1,399,900.99)
Total recognized revenue and (116,996.19) 1,282,904.80 (1,399,900.99)
expense for the period
Balance Ending (446,483.77) (493,961.00) 27,477.23

Note 7.1- Accumulated Surplus/Deficit

Beginning Balance 2016 2015 Increase (Decrease)


Changes in Accounting Policy (493,961.00) (2,145,935.23) 1,651,974.23
Prior Year Adjustment 144,473.42 369,069.43 (224,596.01)
Restated Balance (349,487.58) (1,776,865.80) (224,596.01)
Changes in Net
Assets/Equity
Adjustment of Net Rev Re
Surplus (deficit) for the period (116,996.19) 1,282,904.80 (1,399,900.99)
Total recognized revenue (116,996.19 1,282,904.80 (1,399,900.99)
and expense for the period
Ending Balance (446,483.77) (493,961.00) 27,477.23

7.2 Prior year’s adjustment represents amount adjusted on depreciation of PPEs and liquidation of
receivables/disallowances.
.
7.3 The agency has accumulated a P 116,996.19 which comprises depreciation expense for
the year.

I. FINANCIAL PERFORMANCE
Note 8 – Assistance and Subsidy

18.1 The Subsidy from National Government consists of receipts of Notice of Cash
Allocation/Notice of Transfer of Allocation for Regular Fund, Terminal Leave Benefit and
issuances of Tax Remittance Advices to Bureau of Internal Revenue

Subsidy from Nat “I Govt 2016 2015 Increase(Decrease)


Receipt of NCA - 1,573,463.00 (1,573,463.00)
Receipt of NTA fr CO
TRA
Less:R eversion of Unused 0 0.36 0.36
NCA

Total Assistance/Subsidy - 1573462.64 (1,573,462.64)

8.1 There was no NCA received under CARP Fund 158 for CY 2016.

Expenses

Note 9 – Non-Cash

Note 9.1 – Non-Cash Expenses

Depreciation 2016 2015 Increase(Decrease)

Depreciation-Machinery Eqpt 77,671.79 259,637,33 (181,965.54)


Depreciation-Transp Eqpt 0 97,714.08 (97,714.08)
Depreciation- Fur & Fixture 39,324.50 42,462.91 (3,138.41)

Total 116,996.29 399,814.32 (282,818.03)

9.1 As shown in the table, a decrease of P 282,818.03was due to adjustment of


overstatement of depreciation of PPE and transfer of Motor Vehicle to PENRO
Pangasinan.
II. COMPARISON OF BUDGET AND ACTUAL AMOUNTS

PPSAS 24 requires comparison of budget amounts and the actual amounts arising from
execution of the budget to be included in the financial statements of entities that are required to,
or elect to, mail publicly available their approved budget, and for which they are, therefore held
publicly accountable. Compliance with the requirements of the standard will ensure

that public sector entities discharge their accountability obligations and enhance the
transparency of their financial statements by demonstrating (a) compliance with the approved
budget for which they are held publicly accountable and (b) where the budget and the financial
statements are prepared on the same basis, their financial performance in achieving the budgeted
results.

Budgeted Amount Actual


Amounts
Difference Final
Particulars on
Original Final Budget and Actual
Compara
ble Basis

RECEIPTS

Tax Revenue - - - -

Services and Business Income - - - -

Services and Business Income (UPLC) - - - -

Loan Proceeds - - - -

Refund of Petty Cash and Advances - - - -

184,080.0
Others - Collection from COA Disallowance - - 0 184,080.00

184,080.0
- - 0 184,080.00
PAYMENTS

- - - -

Maintenance and Other Operating Expenses - - - -

Capital Outlay - - - -

Financial Expenses - - - -
Other Disbursements
Loan Repayment

Remittance of Income/Revenue to Bureau of the 184,080.0


Treasury - - 0 184,080.00

Others - - -

184,080.0
- - 0 184,080.00

NET RECEIPS/PAYMENT - - - -

OPERATING -

INVESTING -

TOTAL -
that public sector entities discharge their accountability obligations and enhance the
transparency of their financial statements by demonstrating (a) compliance with the approved
budget for which they are held publicly accountable and (b) where the budget and the financial
statements are prepared on the same basis, their financial performance in achieving the budgeted
results.

Note 10 – Other Disbursements

10..1 The other disbursements/cash payments represent remittances to National


Treasury of refunds of Other receivables and COA Disallowance.
III. CASH FLOWS

Note 11 – Collection of Receivables

11.1 Collection of Receivables amounting to P 170,080.00 consists of the following:

Particulars Amount
Settlement of Disallowance -
Collection of other receivables 170,080.00
Total 170,080.00

:
Note 12. Remittance to National Treasury

12.1 Remittance to National Treasury amounting to P 170,080.00 represents collected


receivables/disallowances.

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