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CY 2018

Annual Financial Report

Local Government

Volume I
EXECUTIVE SUMMARY

Legal Framework

In keeping with its mandate under the 1987 Philippine Constitution and the Government
Auditing Code of the Philippines (P.D. No. 1445), the Commission on Audit (COA)
prepares the Annual Financial Report (AFR) for the National Government, Government
Corporations, and Local Government.

Specifically, the 1987 Constitution, under Section 4, Article IX-D, states that: “The
Commission shall submit to the President and the Congress, within the time fixed by law,
an annual report covering the financial condition and operations of the Government, its
subdivisions, agencies and instrumentalities, including government-owned or controlled
corporations and non-governmental entities subject to its audit, and recommend measures
necessary to improve their effectiveness and efficiency. It shall submit such other reports as
may be required by law.”

Further, pursuant to Section 41 (1) of P.D. No. 1445, the Commission shall submit to the
President and the Congress not later than the last day of September of each year an annual
report of the financial condition and results of operation of all agencies of the government
which shall include recommendations and measures necessary to improve the efficiency and
effectiveness of these agencies.

The Government Accountancy Sector (GAS) is tasked to prepare the AFR for the Local
Government pursuant to COA Resolution No. 2013-021 dated November 20, 2013, the
Restructuring of the GAS of the Commission.

The COA, through COA Resolution No. 2014-003 dated January 24, 2014, prescribed the
adoption of the Philippine Public Sector Accounting Standards (PPSAS), which are aligned
to the International Public Sector Accounting Standards. The implementation of the PPSAS
aims to enhance the quality and uniformity in financial reporting by Philippine public sector
entities, and to ensure accountability, transparency and comparability of financial
information with other public sector entities around the world. For the local government
units (LGUs), COA issued COA Resolution No. 2015-009 dated March 9, 2015 prescribing
the adoption of the PPSAS effective on January 1, 2015.

Objectives
This AFR for Local Government aims to provide essential information on the financial
condition, performance, changes in equity, cash flows, and comparative budget and actual
amounts, of the individual LGUs and the local government sector as a whole, to a wide
range of users and stakeholders. Foremost of the stakeholders are: a) the President, being
the head of the executive branch and in charge of overseeing the management of the whole
government; b) the Senate President, and the Speaker of the House of Representatives, being
the heads of the legislative branch, which is responsible for the promulgation of national

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laws and state policies; and c) the Department of the Interior and Local Government, as the
main oversight national agency over the LGUs.

This Report also caters to the information and statistics needs of economic planners and
other government officials, especially the local chief executives and the members of the
Sangguniang Panlalawigan, Sangguniang Panlungsod, and Sangguniang Pambayan, in the
deliberation of the local budget ordinance and other ordinances and in the determination of
sound economic policies and wise decisions for the betterment of the living condition of the
citizenry. The public, as the majority stakeholder, is the prime user of the information in
consonance with the fiscal policy of transparency and public accountability.

This AFR also provides the audit opinions on the fairness of the presentation of the LGUs’
financial statements (FSs), as well as the significant and common audit observations, and
the corresponding recommendations for reference of the local chief executives and the
members of the Sanggunians to implement corrective measures, improve the efficiency and
effectiveness of LGU operations, and enhance the delivery of services to the public.

Contents and Limitations


This Report presents the combination of the FSs of 1,679 of the 1,715 LGUs consisting of
81 provinces, 145 cities, and 1,489 municipalities as discussed in detail in Coverage below.
The FSs of barangays are not included in the combination but the financial profiles of
barangays, by city/municipality, are included in Part III, Volume I of this AFR, together
with the financial profiles of provinces, cities and municipalities which are presented in
separate captions.

The combined FSs for calendar year (CY) 2018 are presented by fund, namely: General
Fund (GF), Special Education Fund (SEF), and Trust Fund (TF), and by LGU category
(province, city and municipality). These FSs and related non-financial information are based
on the data submitted by the COA Regional Offices. The audit opinion rendered on the
fairness of presentation of the FSs of each LGU was a representation and sole responsibility
of the auditor concerned.

Further, this Report includes a brief discussion on the combined financial position, financial
performance, changes in net assets/equity, cash flows, and comparison of budget and actual
amounts of the LGUs.

Financial Statements
The combined FSs presented in Part II of this Report consist of the following six
components:

1. Statement of Financial Position (SFPos), which presents the assets and liabilities
classified as current and non-current, and equity of the Local Government;

2. Statement of Financial Performance (SFPer), which presents the revenue, expenses,


net financial subsidy, gains or losses, and net surplus or deficit for the period;

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3. Statement of Changes in Net Assets/Equity (SCNA/E), which presents the net
surplus or deficit for the period, effects of changes in accounting policies, and prior
period and other adjustments;

4. Statement of Cash Flows (SCF), which presents the sources (cash inflows) and
utilizations (cash outflows) of funds;

5. Statement of Comparison of Budget and Actual Amounts (SCBAA), which presents


the comparative budget information on the original and final budgets, and the actual
receipt and utilization of funds; and

6. Notes to Financial Statements, which presents additional and relevant information


and disclosures on the data presented in the combined FSs and information about
items that do not qualify for recognition in those statements.

Methodology
In compliance with COA Memorandum No. 2018-005 dated April 30, 2018, the COA
Regional Directors (RDs) were required to submit to the GAS the consolidated FSs of
provinces, cities, and municipalities; financial profile of provinces, cities, municipalities,
and barangays; and list of loans/credit lines availed by each LGU.

The COA RDs were also required to submit copies of annual audit reports and region-wide
summary of audit opinions on the fairness of presentation of the FSs; region-wide summary
of common and significant audit observations and recommendations (CSAOR), by
province, city, municipality, and barangay; and region-wide status of implementation of
prior years’ audit recommendations (PYAR), by province, city, and municipality to the
Local Government Sector (LGS) of COA. In turn, the LGS prepared and submitted to the
GAS the nationwide summary of audit opinions on the fairness of presentation of the FSs;
nationwide summary of CSAOR, by province, city, municipality, and barangay; and
nationwide status of implementation of PYAR, by province, city, and municipality.

The inputs coming from the COA RDs and the LGS were combined by the GAS to generate
the overall financial information presented in this Report. Proper coordination with the COA
RDs and the Head of the LGS was done to ensure the integrity of the financial data gathered.

All amounts presented in this Report are expressed in Philippine peso, rounded off to the
nearest thousands (P000), unless stated otherwise. The difference between the total amount
and the sum of components presented in the tables is due to rounding off.

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Coverage
The Philippine Standard Geographic Code data of the Philippine Statistics Authority as at
December 31, 2018 showed a total of 43,760 LGUs consisting of 81 provinces, 145 cities,
1,489 municipalities and 42,045 barangays.

The combined comparative FSs in this Report pertain to 1,679 LGUs of the total 1,715
provinces, cities, and municipalities which were able to submit both the calendar years
(CYs) 2018 and 2017 FSs as of the cut-off date on July 31, 2019. The FSs of 36 LGUs that
did not submit either the CY 2018 or CY 2017 FSs were not included in the combined FSs.

Of the 81 provinces, only 73 or 90.12 percent have submitted the complete required FSs
while 8 provinces have submitted the required FSs except the SCBAA. Of the 145 cities,
only 125 or 86.21 percent have submitted the complete required FSs while 20 cities have
submitted the required FSs except the SCBAA. A total of 1,266 or 85.02 percent of 1,489
municipalities have submitted the complete required FSs, 190 or 12.76 percent have
submitted the required FSs except the SCBAA, and 33 or 2.22 percent did not submit any
of the required FSs. Tables 1 to 3 show the details of submission of FSs by LGU
classification per region while Table 4 shows the submission of barangay financial profiles
by region.

Table 1 – Submission by Provinces by Region of CY 2018 Financial Statements

Provinces
Region With With
Percent
Target Complete Unsubmitted
Compliance
FSs SCBAA
CAR 6 6 - 100.00
Region I 4 4 - 100.00
Region II 5 5 - 100.00
Region III 7 7 - 100.00
Region IV-A 5 5 - 100.00
Region IV-B 5 5 - 100.00
Region V 6 6 - 100.00
Region VI 5 5 - 100.00
Region VII 3 3 - 100.00
Region VIII 6 3 3 50.00
Region IX 3 3 - 100.00
Region X 5 5 - 100.00
Region XI 5 4 1 80.00
Region XII 4 3 1 75.00
Region XIII 5 5 - 100.00
Sub-Region XVI 2 1 1 50.00
ARMM 5 3 2 60.00
Total 81 73 8 90.12

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Table 2 – Submission by Cities by Region of CY 2018 Financial Statements

Cities
With With
Percent
Target Complete Unsubmitted
Compliance
FSs SCBAA
NCR 16* 12* 4 75.00
CAR 2 2 - 100.00
Region I 9 9 - 100.00
Region II 4 4 - 100.00
Region III 14 14 - 100.00
Region IV-A 19 19 - 100.00
Region IV-B 2 2 - 100.00
Region V 7 7 - 100.00
Region VI 3 3 - 100.00
Region VII 10 10 - 100.00
Region VIII 7 6 1 85.71
Region IX 4 4 - 100.00
Region X 9 9 - 100.00
Region XI 6 5 1 83.33
Region XII 5 5 - 100.00
Region XIII 6 6 - 100.00
Sub-Region XVI 19 6 13 31.58
ARMM 3 2 1 66.67
Total 145 125 20 86.21
*includes two component units: Pamantasan ng Lungsod ng Maynila and Quezon
City General Hospital

Table 3 – Submission by Municipalities by Region of CY 2018 Financial Statements

Municipalities
Regions With With With
Percent
Target Complete Unsubmitted Unsubmitted
Compliance
FSs SCBAA FSs
NCR 1 1 - - 100.00
CAR 75 67 0 8 89.33
Region I 116 116 - - 100.00
Region II 89 85 2 2 95.51
Region III 116 115 - 1 99.14
Region IV-A 123 121 - 2 98.37
Region IV-B 71 65 4 2 91.55
Region V 107 107 - - 100.00
Region VI 98 95 - 3 96.94
Region VII 97 88 - 9 90.72
Region VIII 136 77 58 1 56.62
Region IX 67 67 - - 100.00
Region X 84 84 - - 100.00
Region XI 43 32 11 - 74.42
Region XII 45 17 27 1 37.78
Region XIII 67 67 - - 100.00
Sub-Region XVI 38 19 18 1 50.00
ARMM 116 43 70 3 37.07
Total 1,489 1,266 190 33 85.02

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Table 4 – Submission of CY 2018
Financial Profiles of Barangays by Region

Barangays
With With
Regions Submitted Unsubmitted Percent
Target
Financial Financial Compliance
Profile Profile
NCR 1,710 436 1,274 25.50
CAR 1,178 965 213 81.92
Region I 3,267 3,263 4 99.88
Region II 2,311 1,955 356 84.60
Region III 3,102 2,319 783 74.76
Region IV-A 4,011 3,098 913 77.24
Region IV-B 1,460 1,035 425 70.89
Region V 3,471 1,795 1,676 51.71
Region VI 3,389 2,007 1,382 59.22
Region VII 2,446 1,713 733 70.03
Region VIII 4,390 1,887 2,503 42.98
Region IX 1,859 1,057 802 56.86
Region X 2,022 1,437 585 71.07
Region XI 1,162 1,025 137 88.21
Region XII 1,197 441 756 36.84
Region XIII 1,316 1,167 149 88.68
Sub-Region XVI 1,219 0 1,219 0.00
ARMM 2,535 607 1,928 23.94
Total 42,045 26,207 15,838 62.33

In order to present comparative FSs, the CY 2017 combined FSs were restated to include
the FSs of 56 LGUs which were not able to submit their FSs in CY 2018 cut-off date, but
were able to submit both their CYs 2017 and 2018 FSs on or before the July 31, 2019 cut-
off date. The above-mentioned 56 LGUs consist of 2 provinces, 4 cities, and 50
municipalities. Moreover, the FSs of 18 municipalities, although they submitted the CY
2017 FSs, were excluded from the CY 2017 combined FSs due to their failure to submit the
CY 2018 FSs.

Financial Highlights

The combined assets, liabilities, and net assets/equity for CY 2018 amounted to P2.092
trillion, P573.43 billion, and P1.519 trillion, respectively. Compared with CY 2017, total
assets increased by P318.56 billion or 17.96 percent, total liabilities increased by P61.63
billion or 12.04 percent, and net assets/equity increased by P256.93 billion or 20.36 percent.

Total revenue of P710.88 billion for CY 2018 increased by P70.63 billion or 11.03 percent
compared with the total revenue of P640.25 billion for CY 2017, while total expenses of
P535.01 billion increased by P65.24 billion or 13.89 percent compared with CY 2017 total
expenses of P469.77 billion.

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Summary of Audit Opinions and Significant and Common
Audit Observations and Recommendations

This Report presents the summary of audit results of each LGU, which includes a summary
of audit opinions on the fairness of presentation of the FSs, significant and common audit
observations, and corresponding recommendations towards efficient and effective
operations of the LGUs.

Guide to Users
This Report consists of two volumes. Volume I presents the Executive Summary, Financial
Highlights, Combined FSs, Notes to FSs, Financial Profile of LGUs, Summary of
Loans/Credit Lines availed by LGUs from government or private banks and lending
institutions, and Annexes.

Volume II contains the Summary of Audit Results, which includes: (1) nationwide summary
of audit opinions on the fairness of presentation of the FSs, (2) nationwide summary of
CSAOR on provinces, cities, municipalities, and barangays, and (3) nationwide status of
implementation of PYAR on provinces, cities, and municipalities. Complete details of the
audit observations and recommendations concerning provinces, cities, and municipalities
are presented in the individual Annual Audit Reports on LGUs which are published in the
COA Website at http://www.coa.gov.ph.

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CY 2018

ANNUAL FINANCIAL REPORT


LOCAL GOVERNMENT
Volume I

TABLE OF CONTENTS

PART I FINANCIAL HIGHLIGHTS


 Financial Position ............................................................ 1
 Financial Performance ..................................................... 8
 Cash Flows ..................................................................... 14
 Changes in Net Assets/Equity ........................................... 21
 Comparison of Budget and Actual Amounts ..................... 22

PART II COMBINED FINANCIAL STATEMENTS


 Statement of Financial Position ......................................... 23
 Statement of Financial Performance .................................. 26
 Statement of Cash Flows .................................................. 29
 Statement of Changes in Net Assets/Equity .................... 32
 Statement of Comparison of Budget and Actual Amounts... 33
 Notes to Financial Statements ............................................ 35

PART III FINANCIAL PROFILE OF LOCAL GOVERNMENT


UNITS
 Provinces ............................................................................ 101
 Cities ................................................................................ 106
 Municipalities .................................................................... 113
 Barangays ........................................................................... 162

PART IV LIST OF LOANS/CREDIT LINES AVAILED BY


LGUs ..................................................................................... 216

PART V ANNEXES ............................................................................. 404


LIST OF ANNEXES
Annex
No. Particulars Page

1 List of LGUs not included in the CY 2017 AFR but


which have submitted FSs for CYs 2018 and 2017
and thus included in the CY 2018 AFR ............................ 404

2 List of Municipalities included in the CY 2017 AFR


but excluded from the CY 2018 AFR due to non-
submission of CY 2018 FS ................................................ 406

3 List of Municipalities not included in the Combined


2018 FSs (By Region) ........................................................ 407

4 Matrix of Provinces, Cities, and Muncipalities which


Submitted Incomplete Financial Statements for CY 2018 .. 408

5 Regional Breakdown of Permit Fees


Ranked from Highest to Lowest ........................................ 414

6 Regional Breakdown of Business Income


Ranked from Highest to Lowest ........................................ 415

7 Regional Breakdown of Share from PAGCOR and PCSO


Ranked from Highest to Lowest ........................................ 416

8 Regional Breakdown of Grants and Donations


in Cash and in Kind
Ranked from Highest to Lowest ....................................... 417

9 Regional Breakdown of Total Gains


Ranked from Highest to Lowest ...................................... 418

10 Regional Breakdown of Salaries and Wages


Ranked from Highest to Lowest ...................................... 419

11 Supplies and Materials Expenses by Region


Ranked from Highest to Lowest ...................................... 420

12 Regional Breakdown of General Services


Ranked from Highest to Lowest ...................................... 421

13 Other Maintenance and Operating Expenses, By Region


Ranked from Highest to Lowest ...................................... 422

14 Regional Breakdown of Gains – Other Non-Operating


Income Ranked from Highest to Lowest ......................... 423
LIST OF TABLES
Table
Particulars Page
No.

I.A.1 Assets by LGU Classification ............................................ 3

I.A.2 Ten Provinces, Cities, and Municipalities with Biggest


Amount of Total Assets ................................................... 4

I.A.3 Liabilities by LGU Classification ..................................... 5

I.A.4 Ten Provinces, Cities, and Municipalities with Biggest


Amount of Total Liabilities .............................................. 5

I.A.5 Ten Provinces, Cities, and Municipalities with Biggest Net


Assets/Equity ..................................................................... 7

I.B.1 Summary of Results of Operations by LGU Classification.. 8

I.B.2 Summary of Results of Operations by Fund ........................ 9

I.B.3 Ten Provinces, Cities, and Municipalities with Highest


Amount of Total Revenue .................................................. 10

I.B.4 Internal Revenue Allotment by Region, by LGU


Classification ...................................................................... 11

I.B.5 Ten Provinces, Cities, and Municipalities with


Highest Amount of Total Expenses .................................. 13

I.C.1 Top Ten Provinces, Cities, and Municipalities with


Substantial Cash Inflows from Local Taxes and
Internal Revenue Allotment ............................................... 16

I.D.1 Changes in Net Assets/Equity ............................................ 21

I.E.1 Condensed SCBAA CY 2018 ............................................ 22


LIST OF CHARTS
Chart
No. Particulars Page

I.A.1 Financial Position of Local Government Units .................. 1

I.A.2 Financial Position by LGU Classification …........................ 2

I.A.3 LGU Financial Position by Fund ........................................ 2

I.A.4 Composition of Combined Assets of LGUs ....................... 3

I.A.5 Breakdown of Net Assets/Equity ....................................... 6

I.B.1 Revenue and Expenses by LGU Classification .................. 8

I.B.2 Revenue and Expenses by Fund ......................................... 9

I.B.3 Total Revenue by LGU Classification, by Source ............. 10

I.B.4 Composition of Current Operating Revenue ....................... 11

I.B.5 Total Expenses by LGU Classification, by Expense Type ... 12

I.B.6 Composition of Current Operating Expenses …................. 13

I.C.1 Comparative Cash Inflows, CYs 2018 and 2017 ................ 14

I.C.2 Comparative Cash Outflows, CYs 2018 and 2017 ............. 15

I.C.3 Sources of Cash Inflows from Operating Activities ........... 16

I.C.4 Cash Outflows from Operating Activities .......................... 17

I.C.5 Comparative Cash Inflows from Investing Activities,


CYs 2018 and 2017 ............................................................. 18

I.C.6 Comparative Cash Outflows from Investing Activities,


CYs 2018 and 2017 ............................................................ 19

I.C.7 Cash Flows from Financing Activities ............................... 19

I.C.8 Total Cash Inflows and Outflows by LGU Classification... 20

I.C.9 Total Cash Inflows and Outflows by Fund ......................... 20


PART I

FINANCIAL
HIGHLIGHTS
PART I – FINANCIAL HIGHLIGHTS

In order to present comparative financial statements (FSs), the calendar year (CY) 2017
combined FSs were restated to include the FSs of 56 local government units (LGUs)
which were not able to submit their CY 2017 FSs as of the CY 2018 cut-off date, but
were able to submit both their CYs 2017 and 2018 FSs within the CY 2019 cut-off date.
The above-mentioned 56 LGUs, which are listed in Annex 1, consist of 2 provinces, 4
cities, and 50 municipalities. The FSs of 18 municipalities listed in Annex 2 were
excluded from the CY 2017 combined FSs contained in the CY 2017 AFR due to their
failure to submit the CY 2018 FSs while the 36 municipalities which were excluded from
the CY 2018 combined FSs as they did not submit their FSs for either CY 2018 or CY
2017 are listed in Annex 3.

A. FINANCIAL POSITION
The combined CY 2018 FSs of 1,679 LGUs showed total assets of P2.092 trillion, total
liabilities of P573.43 billion and aggregate net assets/equity of P1.519 trillion. Compared
to previous year, there was an increase in total assets of P318.56 billion or 17.96 percent,
an increase in total liabilities of P61.63 billion or 12.04 percent, and increase in net
assets/equity of P256.93 billion or 20.36 percent. Chart I.A.1 presents the financial
position of LGUs by major components as at December 31, 2018.

Chart I.A.1 – Financial Position of Local Government Units


CY 2018
(in billion pesos)

Assets
2,092.33

Net Assets/ Liabilities


Equity 573.43
1,518.90

As in prior years, cities have the biggest share in the total assets, liabilities, and net
assets/equity of the LGUs amounting to P1.009 trillion, P261.84 billion, and P747.69
billion, respectively, as at December 31, 2018. Chart I.A.2 shows the financial position
by LGU classification.

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Chart I.A.2 – Financial Position by LGU Classification
CY 2018
(in billion pesos)
1200.00

1000.00

800.00

600.00

400.00

200.00

0.00
Provinces Cities Municipalities
Assets 538.56 1,009.53 544.23
Liabilities * 138.97 261.84 172.62
Equity 399.60 747.69 371.61
* Includes Deferred Credits/Unearned Income of P2.53 billion, P104.44 billion and P34.05 billion for provinces, cities and municipalities,
respectively

The General Fund (GF), the main operating fund of the LGUs, is sourced from the share
of LGUs in national taxes including Internal Revenue Allotment (IRA), service and
business income, and all other sources such as donations and grants. The Special
Education Fund (SEF) is a special fund for use of the Local School Board while Trust
Fund (TF) represents funds received for specific purposes as identified by the source
agencies/institutions.

Among the funds of LGUs, the GF has the biggest share in total assets, liabilities, and net
assets/equity of P1.714 trillion or 81.92 percent, P333.73 billion or 58.20 percent, and
P1.380 trillion or 90.87 percent, respectively, as shown in Chart I.A.3.

Chart I.A.3 – LGU Financial Position by Fund


CY 2018
(in billion pesos)

1,800.00
1,600.00
1,400.00
1,200.00
1,000.00
800.00
600.00
400.00
200.00
0.00
General Fund Special Education Trust Fund
Fund
Assets 1,713.99 183.94 194.40
Liabilities 333.73 57.06 182.64
Equity 1,380.26 126.88 11.76

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Assets

The combined assets of LGUs of P2.092 trillion are composed of current assets in the
amount of P817.57 billion or 39.07 percent and non-current assets of P1.275 trillion or
60.93 percent. Chart I.A.4 shows the composition of combined assets of LGUs.

Chart I.A.4 – Composition of Combined Assets of LGUs


CY 2018
(in billion pesos)

Current Assets Non-Current Assets


817.57 1,274.76

Of the current assets, Cash and Cash Equivalents of P559.37 billion, and Receivables of
P175.24 billion represent 26.73 percent and 8.38 percent, respectively, of the total assets.
On the other hand, Property, Plant and Equipment of P1.242 trillion, which is classified
as non-current asset, is 59.36 percent of the total assets.

By LGU classification, 48.25 percent of the total assets pertains to cities, while 26.01
percent and 25.74 percent pertain to municipalities and provinces, respectively, as shown
in Table I.A.1.

Table I.A.1 – Assets by LGU Classification


CY 2018
(in million pesos)

Non-
Current Percent
LGU Classification Current Total
Assets Distribution
Assets
Provinces 205,991.11 332,573.29 538,564.40 25.74
Cities 385,664.23 623,865.36 1,009,529.59 48.25
Municipalities 225,913.62 318,321.37 544,234.98 26.01
Total 817,568.96 1,274,760.02 2,092,328.98 100.00

Table I.A.2 shows the ten provinces, cities and municipalities with biggest amount of
total assets, classified into current and non-current. The Province of Cebu, City of
Makati, and Municipality of Cainta, Rizal topped in their respective LGU classification
with P35.66 billion, P230.83 billion and P4.44 billion, respectively, followed by
Compostela Valley, City of Quezon and Municipality of Mariveles, Bataan with P19.62
billion, P87.29 billion and P3.02 billion, respectively.

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Table I.A.2 – Ten Provinces, Cities, and Municipalities
With Biggest Amount of Total Assets
CY 2018
(in million pesos)

Total Current Non-Current


Particulars
Assets Assets Assets
Provinces
Cebu 35,659.47 7,388.02 28,271.45
Compostela Valley 19,615.34 1,898.63 17,716.71
Batangas 18,185.65 4,718.26 13,467.39
Rizal 18,076.92 8,014.17 10,062.75
Bukidnon 15,278.83 5,269.88 10,008.95
Negros Occidental 14,446.03 7,171.35 7,274.68
Laguna 11,587.44 3,339.34 8,248.10
Iloilo 11,441.66 6,888.95 4,552.71
Palawan 11,277.13 6,091.21 5,185.92
Zambales 11,241.55 2,438.61 8,802.94
Cities
Makati 230,833.17 34,059.56 196,773.61
Quezon 87,285.27 34,366.03 52,919.24
Manila 40,711.07 21,174.22 19,536.84
Pasig 38,985.15 17,418.45 21,566.70
Cebu 33,884.37 23,766.08 10,118.29
Taguig 24,535.71 17,147.95 7,387.76
Caloocan 18,380.72 7,341.23 11,039.49
Pasay 18,278.12 9,190.43 9,087.69
Davao 16,258.95 8,572.08 7,686.87
Calamba 12,605.81 6,108.55 6,497.26
Municipalities
Cainta, Rizal 4,437.05 2,089.40 2,347.65
Mariveles, Bataan 3,015.63 1,745.30 1,270.33
Sual, Pangasinan 2,804.90 1,851.05 953.84
Sto. Tomas, Batangas 2,566.07 1,295.06 1,271.01
Binangonan, Rizal 2,218.16 711.22 1,506.94
Caluya, Antique 2,161.14 1,114.16 1,046.98
Tanay, Rizal 2,013.86 1,118.30 895.56
Carmona, Cavite 1,969.47 727.85 1,241.62
Silang, Cavite 1,900.43 866.04 1,034.39
Calaca, Batangas 1,875.79 907.64 968.15

4
Liabilities

The combined liabilities of LGUs in CY 2018 aggregating to P573.43 billion comprised


of current liabilities totaling P438.98 billion or 76.55 percent and non-current liabilities
totaling P134.45 billion or 23.45 percent. The total Inter-Agency Payables of P131.03
billion or 29.85 percent is the biggest portion of the current liabilities, followed by the
Financial Liabilities of P104.37 billion or 23.78 percent. Of the total non-current
liabilities, Financial Liabilities of P74.59 billion, and Deferred Credits/Unearned Income
of P47.69 billion represent 55.48 percent and 35.47 percent, respectively.
The total liabilities by LGU classification is shown in Table I.A.3.
Table I.A.3 – Liabilities by LGU Classification
CY 2018
(in million pesos)

Current Non-Current Total Percent


LGU Classification
Liabilities Liabilities Liabilities Distribution
Provinces 113,332.89 25,635.47 138,968.36 24.23
Cities 184,491.27 77,347.86 261,839.14 45.66
Municipalities 141,157.52 31,466.30 172,623.82 30.11
Total 438,981.68 134,449.63 573,431.31 100.00

Table I.A.4 presents the ten provinces, cities and municipalities with the biggest total
liabilities. The Province of Negros Occidental with P5.85 billion topped the provinces,
followed by the Province of Palawan with P5.16 billion. Among the cities, Cebu still
ranked first with the highest liabilities of P24.50 billion due to its Other Deferred Credits
of P15.00 billion, which represents 61.05 percent of its total liabilities. The Municipality
of Cainta, Rizal topped the list of municipalities with the highest liabilities, also due to
the substantial balance of its total Deferred Credits/Unearned Income of P1.54 billion,
which is 71.01 percent of its total liabilities of P2.17 billion.
Table I.A.4 – Ten Provinces, Cities, and Municipalities
With Biggest Amount of Total Liabilities
CY 2018
(in million pesos)

Total Current Non-Current


Particulars
Liabilities Liabilities Liabilities
Provinces
Negros Occidental 5,849.40 4,179.89 1,669.51
Palawan 5,155.50 3,479.90 1,675.60
Isabela 4,331.67 1,908.32 2,423.34
Cebu 4,300.17 4,189.10 111.07
Camarines Sur 3,163.39 1,851.20 1,312.19
Iloilo 3,070.22 3,023.76 46.46
Albay 2,963.07 2,331.67 631.39
Bohol 2,918.20 2,708.60 209.60
Batangas 2,817.38 2,472.14 345.24
Quezon 2,779.94 2,258.54 521.40

5
Total Current Non-Current
Particulars
Liabilities Liabilities Liabilities
Cities
Cebu 24,496.89 24,496.89 -
Manila 19,253.95 9,705.52 9,548.43
Quezon 18,471.04 6,116.46 12,354.58
Makati 13,825.19 12,819.43 1,005.76
Taguig 12,609.21 12,609.21 -
Pasay 9,886.89 3,339.81 6,547.08
Caloocan 8,013.47 5,829.95 2,183.52
Olongapo 6,776.85 1,566.11 5,210.74
Iligan 5,981.77 745.78 5,235.99
Pasig 4,800.33 3,987.86 812.47
Municipalities
Cainta, Rizal 2,165.77 2,155.80 9.97
Sual, Pangasinan 1,734.81 1,734.81 -
Mariveles, Bataan 1,520.86 1,456.01 64.85
Santa Cruz, Davao del Sur 1,156.15 250.03 906.12
Pagbilao, Quezon 892.15 892.15 -
Tanay, Rizal 856.29 803.14 53.15
Nasugbu, Batangas 776.36 148.36 628.00
Binangonan, Rizal 748.88 524.19 224.69
Sto. Tomas, Batangas 714.23 596.28 117.95
Calaca, Batangas 680.29 466.90 213.39

Net Assets/Equity

The combined Net Assets/Equity of P1.519 trillion is the difference between the
combined assets of P2.092 trillion and combined liabilities of P573.43 billion. The net
assets/equity, as shown in Chart I.A.5, is composed of the following: restated beginning
balance – P1.265 trillion, adjustments recognized directly in net assets/equity – P77.63
billion and surplus for the period – P175.87 billion.

Chart I.A.5 – Breakdown of Net Assets/Equity


CY 2018
(in billion pesos)

Adjustments
recognized directly
Restated Balance in net assets/ equity
1,265.40 77.63
Surplus for the
period
175.87

6
Table I.A.5 shows the ten LGUs by classification with biggest net assets/equity. The top
province, city and municipality are Cebu with P31.36 billion, Makati with P217.01
billion, and Cainta, Rizal with P2.27 billion, respectively.

Table I.A.5 – Ten Provinces, Cities, and Municipalities


With Biggest Net Assets/Equity
CY 2018
(in million pesos)

Net Assets/ Net Assets/ Net Assets/


Provinces Cities Municipalities
Equity Equity Equity
Cebu 31,359.30 Makati 217,007.98 Cainta, Rizal 2,271.28
CompostelaValley 17,443.01 Quezon 68,814.23 Sto. Tomas, Batangas 1,851.83
Rizal 15,804.60 Pasig 34,184.81 Caluya, Antique 1,751.42
Batangas 15,368.27 Manila 21,457.11 Carmona, Cavite 1,663.99
Bukidnon 12,705.79 Davao 12,263.93 Silang, Cavite 1,553.99
Zambales 9,166.99 Taguig 11,926.50 Mariveles, Bataan 1,494.76
Laguna 9,042.16 Zamboanga 10,405.37 Binangonan, Rizal 1,469.28
Pangasinan 8,658.23 Caloocan 10,367.25 Claver, Surigao del Norte 1,449.56
Negros Occidental 8,596.63 Calamba 9,425.92 Narvacan,Ilocos Sur 1,423.62
Bulacan 8,543.02 Cebu 9,387.48 Sta. Maria, Ilocos Sur 1,358.61

7
B. FINANCIAL PERFORMANCE

The total combined surplus of LGUs for CY 2018 of P175.87 billion registered an increase
of P5.39 billion, or 3.16 percent from CY 2017 total of P170.48 billion. The total revenue
during the year reached P710.88 billion, sourced largely from current operating revenue of
P680.56 billion or 95.73 percent. Compared to previous year’s total revenue of P640.25
billion, there was an increase of P70.63 billion or 11.03 percent.

On the other hand, for total expenses of P535.01 billion which were incurred mainly for
current operations, there was an increase of P65.24 billion or 13.89 percent from CY 2017
total expenses of P469.77 billion. The summaries of results of operations of the local
government, by LGU classification and by fund, for CY 2018 are presented in Tables I.B.1
and I.B.2, respectively, while Revenue and Expenses by LGU classification and by fund are
shown in Charts I.B.1 and I.B.2, respectively.

Table I.B.1 – Summary of Results of Operations by LGU Classification


CY 2018
(in million pesos)

Particulars Total Provinces Cities Municipalities


Revenue 710,881.46 169,612.40 295,191.62 246,077.44
Current Operating Revenue 680,556.02 158,336.76 287,333.64 234,885.62
Total Transfers, Assistance and
Subsidy from 27,105.92 10,479.68 6,462.93 10,163.30
Other Non-Operating Income 3,219.52 795.96 1,395.05 1,028.51
Expenses 535,014.18 123,057.37 223,698.28 188,258.53
Current Operating Expenses 496,572.45 109,266.24 208,420.05 178,886.15
Total Transfers, Assistance and
Subsidy to 37,701.78 13,438.46 14,939.96 9,323.36
Losses 739.96 352.68 338.26 49.01
Surplus for the period 175,867.28 46,555.02 71,493.34 57,818.91

Chart I.B.1 – Revenue and Expenses by LGU Classification


CY 2018
(in billion pesos)

310 295.19
246.08
260 223.70
188.26
210 169.61

160 123.06

110

60

10 Provinces Cities Municipalities


Revenue* Expenses*
*Includes transfers, assistance and subsidy (from/to), and other non-operating income/losses

8
Table I.B.2 – Summary of Results of Operations by Fund
CY 2018
(in million pesos)

Particulars Total GF SEF TF


Revenue 710,881.46 667,605.46 33,058.01 10,217.98
Current Operating Revenue 680,556.02 645,166.64 32,977.75 2,411.63
Total Transfers, Assistance and
Subsidy from 27,105.92 19,638.25 63.22 7,404.45
Other Non-Operating Income 3,219.52 2,800.58 17.04 401.90
Expenses 535,014.18 507,816.27 18,410.76 8,787.15
Current Operating Expenses 496,572.45 470,903.89 18,136.32 7,532.23
Total Transfers, Assistance and
Subsidy to 37,701.78 36,184.40 262.54 1,254.84
Losses 739.96 727.98 11.89 0.08
Surplus the period 175,867.28 159,789.19 14,647.25 1,430.83

Chart I.B.2 – Revenue and Expenses by Fund


CY 2018
(in billion pesos)

667.61
810
507.82
610 10.22 8.79
33.06
410
18.41
210

10
Revenue* Expenses*
GF SEF TF
*Includes transfers, assistance and subsidy (from/to) and other non-operating income/losses

Revenue

Revenue of P710.88 billion was sourced from current operations; transfers, assistance and
subsidy (TAS); and other non-operating income. Chart I.B.3 presents the composition of
total revenue by LGU classification and by source.

9
Chart I.B.3 – Total Revenue by LGU Classification, by Source
CY 2018
(in billion pesos)

287.33
300
234.89
250

200 158.34

150

100

50 10.48 0.80 6.46 1.39 10.16 1.03

0
Provinces Cities Municipalities
Current Operating Revenue P680.56 TAS P27.11 Non-Operating Income P3.22

The ten provinces, cities and municipalities with highest amount of total revenue are shown
in Table I.B.3.

Table I.B.3 – Ten Provinces, Cities, and Municipalities


with Highest Amount of Total Revenue
CY 2018
(in million pesos)

Provinces Revenue Cities Revenue Municipalities Revenue


Negros Occidental 5,987.92 Quezon 20,594.73 Cainta, Rizal 1,305.72
Ilocos Sur 5,719.72 Makati 17,817.36 Taytay, Rizal 1,019.46
Bulacan 4,995.10 Manila 14,103.20 Caluya, Antique 1,002.89
Cebu 4,646.68 Pasig 12,309.64 Rodriguez, Rizal 976.46
Rizal 4,322.36 Taguig 11,276.18 Balaoan, La Union 908.29
Laguna 4,320.07 Davao 9,539.27 Marilao, Bulacan 894.68
Cavite 4,204.72 Cebu 6,743.88 Sta. Cruz, Ilocos Sur 843.98
Pangasinan 4,093.69 Parañaque 6,668.78 Sto. Tomas, Batangas 809.09
Quezon 3,960.55 Caloocan 5,685.57 Bataraza, Palawan 796.02
Batangas 3,773.26 Pasay 5,659.04 Rosario, Cavite 785.06

10
Revenue from Current Operations

Chart I.B.4 presents the composition of total current operating revenue. This does not
include gains, which has almost zero-percentage share.

Chart I.B.4 – Composition of Current Operating Revenue


CY 2018
(in billion pesos)

Service and Shares, Grants and


Business Income Donations
59.99 8.90
8.81% 1.31%
Tax Revenue
Other National 165.63
Taxes 31.04 24.34%
4.56%

IRA
414.98
60.98%

Total revenue from current operations amounting to P680.56 billion was generated from tax
revenue, other national taxes, IRA, service and business income, shares, grants and
donations, and gains. The IRA remains to be the major source of revenue for the LGUs for
CY 2018 totalling P414.98 billion or 60.98 percent of the total current operating revenue.

Share from Internal Revenue Allotment

The NG provides revenue allocation to the LGUs in the form of Internal Revenue Allotment
(IRA), which is equivalent to 40 percent of its total internal revenue collections based on
the collections of the third preceding year. The total IRA of the LGUs is allocated in the
following manner: municipalities – 34 percent, provinces and cities – 23 percent each, and
barangays – 20 percent. Table I.B.4 summarizes the IRA received by the LGUs by region
for CY 2018:

Table I.B.4 – IRA by Region, by LGU Classification


CY 2018
(in million pesos)

Regions Total Provinces Cities Municipalities


NCR 22,857.26 - 22,726.64 130.62
CAR 12,989.53 5,125.10 1,653.84 6,210.58
Region I 22,001.63 6,647.10 4,034.82 11,319.70
Region II 22,130.76 7,347.79 3,828.44 10,954.54
Region III 40,023.51 12,775.81 9,246.56 18,001.14
Region IV-A 46,799.41 14,311.10 14,799.80 17,688.51
Region IV-B 19,120.66 6,492.43 2,977.42 9,650.81
Region V 25,083.72 8,296.63 3,847.11 12,939.98
Region VI 18,293.43 6,214.19 1,949.51 10,129.73

11
Regions Total Provinces Cities Municipalities
Region VII 20,553.81 5,444.15 6,800.94 8,308.73
Region VIII 24,989.23 7,507.73 5,298.15 12,183.35
Region IX 16,673.00 4,615.33 4,542.14 7,515.53
Region X 23,264.43 6,455.04 7,599.27 9,210.12
Region XI 21,307.86 5,987.52 8,045.71 7,274.63
Region XII 19,218.90 6,296.83 4,056.87 8,865.20
Region XIII 17,507.43 5,548.53 4,481.21 7,477.70
Sub-Region XVI 22,122.54 4,981.57 12,228.96 4,912.02
ARMM 20,045.72 7,262.39 1,620.46 11,162.87
Total 414,982.83 121,309.25 119,737.83 173,935.75

Expenses

Of the total expenses amounting to P535.01 billion for CY 2018, cities had the biggest share
of P223.70 billion or 41.81 percent, followed by municipalities of P188.26 billion or 35.19
percent, and provinces of P123.06 billion or 23.00 percent. The total expenses include
current operating expenses; transfers, assistance and subsidy (TAS) to NGAs/Other
LGUs/Funds; and losses. The CY 2018 total expenses by LGU classification by expense
type is shown in Chart I.B.5.

Chart I.B.5 – Total Expenses by LGU Classification, by Expense Type


CY 2018
(in billion pesos)

208.42
210 178.89

160
109.27
110

60
13.44 0.35 14.94 0.34 9.32 0.05
10
Provinces Cities Municipalities
Current Operating Expenses P496.57 TAS P37.70 Losses P0.74

LGUs with Highest Reported Total Expenses

As presented in Table I.B.5, the Province of Negros Occidental, City of Makati and
Municipality of Cainta, Rizal topped the list of the top ten LGUs with total expenses of
P5.12 billion, P15.42 billion and P1.23 billion, respectively, followed by the province of
Cebu with P4.28 billion, City of Quezon with P14.58 billion, and Municipality of Taytay,
Rizal with P0.95 billion.

12
Table I.B.5 – Ten Provinces, Cities, and Municipalities
With Highest Amount of Total Expenses
CY 2018
(in million pesos)

Provinces Expenses Cities Expenses Municipalities Expenses


Negros Occidental 5,120.48 Makati 15,419.98 Cainta, Rizal 1,233.91
Cebu 4,280.81 Quezon 14,578.82 Taytay, Rizal 950.20
Bulacan 3,843.32 Manila 11,122.47 Rodriguez, Rizal 824.35
Laguna 3,373.20 Taguig 7,588.14 Marilao, Bulacan 754.38
Ilocos Sur 3,315.68 Davao 7,274.04 Rosario, Cavite 641.92
Pangasinan 3,177.95 Pasig 6,989.81 San Mateo, Rizal 577.60
Quezon 2,963.35 Cebu 6,387.68 Carmona, Cavite 552.57
Batangas 2,848.01 Pasay 4,903.24 Sto. Tomas, Batangas 550.74
Pampanga 2,843.47 Mandaluyong 4,618.59 Silang, Cavite 547.45
Cavite 2,782.60 Caloocan 4,425.24 Sta. Maria, Bulacan 544.15

Expenses for Current Operations

The total current operating expenses of P496.57 billion is composed of personnel services
(PS) of P189.75 billion or 38.21 percent, maintenance and other operating expenses
(MOOE) of P257.93 billion or 51.94 percent, financial expenses (FE) of P4.83 billion or
0.97 percent, and non-cash expenses of P44.06 billion or 8.87 percent, as presented in Chart
I.B.6.

Chart I.B.6 – Composition of Current Operating Expenses


CY 2018
(in billion pesos)

257.93

280
189.75
240
200
160
120
80 44.06

40 4.83

0
PS MOOE FE Non-Cash

13
C. CASH FLOWS

The Statement of Cash Flows (SCF) of the LGUs provides an overview of the cash inflows
and outflows and the net changes in cash resulting from operating, investing and financing
activities.

The SCF for CY 2018 shows P970.19 billion inflows and P895.57 billion outflows, resulting
in net cash flows of P74.62 billion. Compared with the previous year’s net cash flows of
P117.45 billion, there was a decrease of P42.84 billion or 36.47 percent.

Cash Inflows

Of the aggregate cash inflows of P970.19 billion for CY 2018, P947.62 billion or 97.67
percent was from operating activities, P1.49 billion or 0.15 percent from investing activities
and P21.07 billion or 2.17 percent from financing activities. The increase in cash inflows of
P110.01 billion or 12.79 percent from CY 2017 total cash inflows of P860.17 billion was
due to the increases in operating activities of P103.81 billion and financing activities of
P6.84 billion, and a decrease in investing activities of P0.63 billion. Chart I.C.1 shows the
comparative cash inflows for CYs 2018 and 2017.

Chart I.C.1 – Comparative Cash Inflows


CYs 2018 and 2017
(in billion pesos)

947.62
1,000.00 843.82
900.00
800.00
700.00
600.00
500.00
400.00
300.00
200.00 21.07
100.00 1.49 2.12 14.24
-
Operating Activities Investing Activities Financing Activities

2018 2017

14
Cash Outflows
The combined cash outflows for all activities amounted to P895.57 billion, broken down as
follows: operating activities of P719.23 billion or 80.31 percent, investing activities of
P161.20 billion or 18.00 percent and financing activities of P15.14 billion or 1.69 percent.
The increase of cash outflows of P152.85 billion or 20.58 percent from the previous year
balance of P742.72 billion was a result of the increases in operating and investing activities
of P105.51 billion and P47.81 billion, respectively, and a decrease in financing activities of
P0.46 billion. Chart I.C.2 shows the comparative cash outflows for CYs 2018 and 2017.

Chart I.C.2 – Comparative Cash Outflows


CYs 2018 and 2017
(in billion pesos)

719.23
800.00
613.72
700.00
600.00
500.00
400.00
300.00 161.20
113.39
200.00
15.14 15.61
100.00
0.00
Operating Activities Investing Activities Financing Activities

2018 2017

Cash Flows from Operating Activities

The total cash inflows derived from operating activities amounted to P947.62 billion while
the total cash outflows was P719.23 billion, resulting in net inflows of P228.40 billion.
Internal Revenue Allotment (IRA) of P415.59 billion was the biggest source, representing
43.86 percent of the total cash inflows. The inflows also included collections from taxpayers
(local taxes), service/business income, interest income, dividend income, and other receipts.
Chart I.C.3 shows the sources of cash inflows from operating activities.

15
Chart I.C.3 – Sources of Cash Inflows from Operating Activities
CY 2018
(in billion pesos)
Interest Income
2.39
0.25%

Local Taxes
Other Receipts 178.72
292.69 18.86%
30.89%

IRA
415.59
43.86%

Dividend Income
1.60
0.17% Service/Business
Income
56.64
5.98%

The top ten provinces, cities and municipalities with substantial cash inflows from local
taxes and IRA are presented in Table I.C.1.

Table I.C.1 – Top Ten Provinces, Cities, and Municipalities


with Substantial Cash Inflows from Local Taxes
and Internal Revenue Allotment
(in million pesos)
Local Taxes Internal Revenue Allotment
LGUs Amount LGUs Amount
Provinces Provinces
La Union 1,138.23 Cavite 3,339.79
Batangas 1,076.11 Bulacan 3,180.63
Rizal 979.95 Pangasinan 3,176.81
Bulacan 954.23 Cebu 3,122.06
Cavite 786.83 Negros Occidental 3,038.19
Zambales 623.85 Laguna 2,894.71
Bataan 616.01 Batangas 2,740.78
Palawan 570.09 Rizal 2,681.06
Antique 447.12 Isabela 2,671.61
Zamboanga del Sur 427.21 Quezon 2,654.76
Cities Cities
Makati 15,344.68 Davao 4,474.13
Quezon 11,189.68 Quezon 4,018.85
Manila 10,391.08 Manila 2,561.85
Taguig 9,057.37 Zamboanga 2,544.38
Pasig 8,855.64 Caloocan 2,448.07
Parañaque 4.393.16 Puerto Princesa 2,384.60
Mandaluyong 3,737.93 Cebu 2,116.76
Davao 3,693.77 Calamba 1,751.64
Muntinlupa 3,558.10 Antipolo 1,566.73
Santa Rosa 3,420.83 Cagayan de Oro 1,512.18

16
Local Taxes Internal Revenue Allotment
LGUs Amount LGUs Amount

Municipalities Municipalities
Cainta, Rizal 925.23 Rodriguez, Rizal 599.51
Pagbilao, Quezon 713.67 Cainta, Rizal 510.56
Bataraza, Palawan 713.53 Taytay, Rizal 508.46
Calaca, Batangas 478.57 Sablayan, Occ. Mindoro 475.80
Carmona, Cavite 465.70 Binangonan, Rizal 458.93
Pinili, Ilocos Norte 426.93 Silang, Cavite 428.10
San Miguel, Bulacan 421.74 Sta. Maria, Bulacan 422.02
Mauban, Quezon 380.49 San Mateo, Rizal 411.72
Guiguinto, Bulacan 377.09 Tanza, Cavite 378.24
Marilao, Bulacan 368.15 Marilao, Bulacan 362.22

Chart I.C.4 shows the breakdown of the total cash outflows from operating activities
amounting to P719.23 billion which represents payment to suppliers and creditors, payment
to employees, interest expense, payment of expenses and other payments.

Chart I.C.4 – Cash Outflows from Operating Activities


CY 2018
(in billion pesos)

Payment of
Other expenses
84.79
Payments
11.79% Payment to
235.56
32.75% suppliers and
creditors
Payment to 211.02
employees 29.34%
182.65
25.40%
Interest
Expense
5.20
0.72%

Disbursements other than interest expense, payment to suppliers and creditors, and payment
to employees were all reported as payment of expenses. Other Payments amounting to
P235.56 billion include, among others, inter/intra agency fund transfers; grants, subsidies
and donations; awards and indemnities; disbursements/payments of payables for expenses
incurred in prior years; refunds/payments of trust liabilities; and other maintenance and
operating expenses such as training, travel, professional/consultancy services, and others.

17
Cash Flows from Investing Activities

For CY 2018, a 29.68 percent decrease in total cash inflows of P1.49 billion against P2.12
billion of the previous year was reported. Of the P1.49 billion, P816.22 million or 54.74
percent was sourced from collection of principal on loans to other entities. Other sources of
cash comprised of proceeds from sale of investment property amounting to P363.94 million
or 24.41 percent; proceeds from sale/disposal of PPE amounting to P287.75 million or 19.30
percent; and proceeds from sale of investments amounting to P23.17 million or 1.55 percent.

Total cash outflows from investing activities amounting to P161.20 billion increased by
P47.81 billion or 42.16 percent compared to P113.39 billion of previous year. Significant
cash outflows for CY 2018 pertained to the purchase/construction of PPE amounting to
P149.68 billion or 92.85 percent. Chart I.C.5 and Chart I.C.6 show the Comparative Cash
Inflows and Cash Outflows for CYs 2018 and 2017, respectively.

Chart I.C.5 – Comparative Cash Inflows from Investing Activities


CYs 2018 and 2017
(in million pesos)

1162.66
1200.00

1000.00 816.22
800.00
586.91
600.00
363.94 287.75 321.28
400.00

200.00 49.54
23.17
0.00
Proceeds from Proceeds from Proceeds from Collection of
Sale of Investment Sale/ Disposal of Sale of Principal on loans
Property PPE Investments to other entities

2018 2017

18
Chart I.C.6 – Comparative Cash Outflows from Investing Activities
CYs 2018 and 2017
(in billion pesos)

149.68
160.00
140.00
120.00 105.79
100.00
80.00
60.00
40.00
20.00 4.97 3.08 5.47 2.88 0.26 1.16 0.12 0.07 0.71 0.39
0.00
Purchase/ Purchase/ Investment Purchase of Purchase of Grant of
Construction Construction Bearer Intangible Loans
of Investment of PPE Biological Assets
Property Assets

2018 2017

Cash Flows from Financing Activities

The LGUs posted an aggregate net cash flows from financing activities of P5.93 billion, a
significant increase of P7.30 billion or 531.93 percent from the reported negative cash flows
of P1.37 billion posted in CY 2017. Cash inflows amounted to P21.07 billion while the cash
outflows amounted to P15.14 billion. The main sources of cash inflows from this activity
were proceeds from domestic and foreign loans and issues of bills and bonds. Cash outflows
pertained to payments of loan amortization and long-term liabilities, and retirement/
redemption of debt securities. Chart I.C.7 shows the cash flows from financing activities for
CY 2018.

Chart I.C.7 – Cash Flows from Financing Activities


CY 2018
(in billion pesos)

Cash Inflows Cash Outflows Net Cash Flows


21.07 15.14 5.93

19
Cash Flows by LGU Classification and by Fund

Cash inflows and outflows by LGU classification and by fund are shown in Charts I.C.8 and
I.C.9, respectively. As to the highest cash inflows and corresponding outflows, the cities
ranked first, followed by municipalities and provinces. By fund, the GF, being the main
operating fund of LGUs, posted the biggest amount of cash inflows and outflows.

Chart I.C.8 -Total Cash Inflows and Outflows by LGU Classification


CY 2018
(in billion pesos)

383.92
400.00 350.45 341.35
319.97
350.00
300.00 244.92
225.14
250.00
200.00
150.00
100.00
50.00
-
Provinces Cities Municipalities

Total Cash Inflows Total Cash Outflows

Chart I.C.9 - Total Cash Inflows and Outflows by Fund


CY 2018
(in billion pesos)

811.23
900.00 745.80
800.00
700.00
600.00
500.00
400.00
300.00 116.07
113.80
200.00 42.89 35.98
100.00
-
GF SEF TF

Total Cash Inflows Total Cash Outflows

20
D. CHANGES IN NET ASSETS/EQUITY

For CY 2018, the consolidated net assets/equity of the LGUs amounted to P1.519 trillion.
The balance was a result of : (a) restated ending balance of CY 2017 amounting to P1.262
trillion, (b) adjustments due to change in accounting policy, prior period errors, and other
adjustments totaling P3.44 billion, resulting in the restated CY 2017 beginning balance of
P1.265 trillion, and (c) total changes in net assets/equity for the period of P253.50 billion.

Details of the changes in net assets/equity are shown in Table I.D.1.

Table I.D.1 Changes in Net Assets/Equity


CY 2018
(in million pesos)

AMOUNT
PARTICULARS 2017
2018
Restated
NET ASSETS/EQUITY
Balance as at January 1 1,261,965.15 906,091.69
Add (Deduct)
Changes in accounting policies 10,609.04 10,590.09
Prior period errors (8,224.62) 3,046.18
Other adjustment 1,051.36 0
Restated Balance 1,265,400.93 919,727.97
Add (Deduct) Changes in net
assets/equity during the year
Adjustments recognized directly in net
assets/equity 77,629.46 171,759.39
Surplus for the period 175,867.28 170,477.79
Total changes during the year 253,496.74 342,237.18
Balance as at December 31 1,518,897.66 1,261,965.15

The ending balance as at December 31, 2017 of P1.242 trillion presented in the CY 2017
AFR for Local Government was restated to P1.262 trillion in this Report. The difference of
P0.02 billion was attributed to FSs of 56 LGUs (2 provinces, 4 cities, and 50 municipalities)
listed in Annex I which were not included in the combination due to the absence of
comparable figures for CYs 2018 and 2017.

21
E. COMPARISON OF BUDGET AND ACTUAL AMOUNTS

With the adoption of the Philippine Public Sector Accounting Standards (PPSAS) 24 on
presentation of budget information in the FSs, the Statement of Comparison of Budget and
Actual Amounts (SCBAA) is required as an additional component of the FSs. Philippine
Application Guidance (PAG) No. 4 of PPSAS 1-Presentation of Financial Statements
provides that a separate additional financial statement for comparison of budget and actual
amounts shall be prepared, since the financial statements and budget of National
Government Agencies (NGAs), LGUs and Government-Owned and/or Controlled
Corporations (GOCCs) not considered as Government Business Enterprises (GBEs) are not
on the same accounting basis.

In the Philippine public sector situation, budgets are on cash basis while the FSs are prepared
on accrual basis, thus PAG No. 4 was prescribed. Compliance with the said requirement
shall ensure that public sector entities shall discharge their accountability obligations and
enhance the transparency of their FSs by demonstrating compliance with the approved
budgets for which they are held publicly accountable.

Based on the combined CY 2018 SCBAA, the final budget and actual amounts of
revenue/other receipts totaled P613.54 billion and P604.76 billion, respectively, or a
difference of P8.78 billion. Of the final budget or total appropriations amounting to P768.35
billion, P523.03 billion or 68.07 percent represents actual expenditures, which includes debt
service and continuing appropriations for capital outlay, resulting in a difference of P245.33
billion. The details are presented in Table I.E.1.
Table I.E.1 – Condensed SCBAA CY 2018
(in million pesos)
Budget Amount Difference
Actual Final
PARTICULARS
Original Final Difference Amount Budget and
Actual
Revenue
A. Local Sources
Tax Revenue 119,944.54 123,226.16 3,281.62 124,524.10 (1,297.94)
Non-Tax Revenue 63,638.34 71,062.69 7,424.35 67,416.22 3,646.47
B. External Sources
Share from the National Internal
Revenue Taxes (IRA) 343,764.88 339,345.52 (4,419.36) 339,814.62 (469.11)
Share from GOCCs 9,764.58 8,017.42 (1,747.16) 8,144.08 (126.66)
Other Shares from National
Tax Collections 9,650.60 21,044.00 11,393.40 29,948.44 (8,904.45)
Other Receipts 3,324.25 5,561.03 2,236.79 8,357.71 (2,796.67)
Inter-local Transfer 1,200.26 4,294.56 3,094.29 2,044.77 2,249.79
Capital /Investment Receipts 2,442.20 2,203.12 (239.08) 632.40 1,570.72
C. Receipts from Borrowings 14,781.40 38,784.33 24,002.94 23,873.94 14,910.39
Total Revenue and Receipts 568,511.04 613,538.83 45,027.79 604,756.28 8,782.54
Expenditures
Personnel Services 181,959.30 180,962.26 (997.05) 159,255.13 21,707.13
MOOE 260,171.30 288,931.94 28,760.64 231,361.68 57,570.27
Capital Outlay 122,843.86 182,354.85 59,510.99 80,004.61 102,350.24
Debt Service
Financial Expense 6,367.53 8,187.33 1,819.80 5,585.98 2,601.35
Amortization 6,800.31 6,302.80 (497.51) 5,561.99 740.81
Total Current Appropriations 578,142.30 666,739.18 88,596.88 481,769.38 184,969.80
Continuing Appropriations
Capital Outlay 118,072.54 101,614.47 (16,458.07) 41,256.17 60,358.30
Total Continuing Appropriations 118,072.54 101,614.47 (16,458.07) 41,256.17 60,358.30
Total Appropriations 696,214.84 768,353.65 72,138.81 523,025.55 245,328.10

22
PART II

FINANCIAL
STATEMENTS
Republic of the Philippines
Local Government
Combined Statement of Financial Position
as at December 31, 2018
(in thousand pesos)

2017
Particulars Notes 2018
(Restated)

ASSETS
CURRENT ASSETS
Cash and Cash Equivalents 4 559,372,950 483,662,137
Investments 5 42,058,537 41,391,776
Receivables 6 175,241,051 144,576,327
Inventories 7 26,828,836 22,347,972
Prepayments and Deferred Charges 8 14,067,582 12,000,025
Total Current Assets 817,568,956 703,978,237
NON- CURRENT ASSETS
Investments 9 5,784,964 4,425,584
Receivables 10 10,992,649 24,484,768
Investment Property 11 13,665,383 13,074,380
Property, Plant and Equipment 12 1,242,107,815 1,026,061,926
Biological Assets 13 1,119,662 890,132
Intangible Assets 14 1,089,546 851,606
Total Non-Current Assets 1,274,760,020 1,069,788,396
TOTAL ASSETS 2,092,328,975 1,773,766,633

LIABILITIES
CURRENT LIABILITIES
Financial Liabilities 15 104,371,837 85,701,958
Inter-Agency Payables 16 131,027,485 124,174,409
Intra-Agency Payables 17 35,602,025 32,095,990
Trust Liabilities 18 58,494,669 48,546,022
Deferred Credits/Unearned Income 19 93,329,829 69,257,841
Provisions 20 362,767 482,714
Other Payables 21 15,793,068 13,645,111
Total Current Liabilities 438,981,680 373,904,045
Non-Current Liabilities
Financial Liabilities 22 74,591,031 68,874,950
Deferred Credits/Unearned Income 23 47,694,231 57,885,795
Provisions 24 20,642 30,810
Other Payables 25 12,143,727 11,105,881
Total Non-Current Liabilities 134,449,632 137,897,435
TOTAL LIABILITIES 573,431,312 511,801,481
NET ASSETS/EQUITY
Net Assets/Equity 26 1,518,897,663 1,261,965,152
Total Net Assets/Equity 1,518,897,663 1,261,965,152
TOTAL LIABILITIES AND NET ASSETS/EQUITY 2,092,328,975 1,773,766,633

23
Republic of the Philippines
Local Government
Combined Statement of Financial Position by LGU Classification
as at December 31, 2018
(in thousand pesos)

Particulars Total Provinces Cities Municipalities

ASSETS
CURRENT ASSETS
Cash and Cash Equivalents 559,372,950 152,043,678 237,624,107 169,705,164
Investments 42,058,537 7,913,437 32,422,087 1,723,014
Receivables 175,241,051 29,777,671 96,608,635 48,854,745
Inventories 26,828,836 11,927,525 12,240,716 2,660,595
Prepayments and Deferred Charges 14,067,582 4,328,799 6,768,686 2,970,097
Total Current Assets 817,568,956 205,991,110 385,664,231 225,913,615
NON- CURRENT ASSETS
Investments 5,784,964 542,843 5,038,695 203,427
Receivables 10,992,649 2,519,436 5,063,191 3,410,021
Investment Property 13,665,383 4,350,114 6,818,604 2,496,665
Property, Plant and Equipment 1,242,107,815 324,540,986 606,083,957 311,482,873
Biological Assets 1,119,662 431,281 193,972 494,410
Intangible Assets 1,089,546 188,628 666,944 233,974
Total Non-Current Assets 1,274,760,020 332,573,288 623,865,362 318,321,369
TOTAL ASSETS 2,092,328,975 538,564,398 1,009,529,593 544,234,984

LIABILITIES
CURRENT LIABILITIES
Financial Liabilities 104,371,837 27,113,497 52,013,091 25,245,249
Inter-Agency Payables 131,027,485 48,707,881 22,195,308 60,124,295
Intra-Agency Payables 35,602,025 13,375,298 11,736,222 10,490,506
Trust Liabilities 58,494,669 16,867,190 24,767,342 16,860,137
Deferred Credits/Unearned Income 93,329,829 1,651,124 66,399,415 25,279,290
Provisions 362,767 189,614 163,860 9,294
Other Payables 15,793,068 5,428,284 7,216,035 3,148,748
Total Current Liabilities 438,981,680 113,332,888 184,491,273 141,157,519
Non-Current Liabilities
Financial Liabilities 74,591,031 21,185,878 33,423,914 19,981,239
Deferred Credits/Unearned Income 47,694,231 878,870 38,040,790 8,774,572
Provisions 20,642 - - 20,642
Other Payables 12,143,727 3,570,720 5,883,160 2,689,847
Total Non-Current Liabilities 134,449,632 25,635,468 77,347,864 31,466,300
TOTAL LIABILITIES 573,431,312 138,968,356 261,839,137 172,623,819
NET ASSETS/EQUITY
Net Assets/Equity 1,518,897,663 399,596,042 747,690,457 371,611,165
Total Net Assets/Equity 1,518,897,663 399,596,042 747,690,457 371,611,165
TOTAL LIABILITIES AND NET ASSETS/EQUITY 2,092,328,975 538,564,398 1,009,529,593 544,234,984

24
Republic of the Philippines
Local Government
Combined Statement of Financial Position by Fund
as at December 31, 2018
(in thousand pesos)

Special
PARTICULARS AMOUNT General Fund Trust Fund
Education Fund

ASSETS
CURRENT ASSETS
Cash and Cash Equivalents 559,372,950 397,715,289 48,576,720 113,080,940
Investments 42,058,537 38,751,314 1,363,093 1,944,130
Receivables 175,241,051 121,742,435 40,193,970 13,304,646
Inventories 26,828,836 21,961,190 2,742,337 2,125,309
Prepayments and Deferred Charges 14,067,582 8,453,933 1,696,405 3,917,244
Total Current Assets 817,568,956 588,624,162 94,572,525 134,372,270
NON- CURRENT ASSETS
Investments 5,784,964 5,630,509 49,622 104,833
Receivables 10,992,649 8,499,622 1,681,097 811,929
Investment Property 13,665,383 13,521,272 699 143,412
Property, Plant and Equipment 1,242,107,815 1,095,631,762 87,567,664 58,908,389
Biological Assets 1,119,662 1,066,766 143 52,754
Intangible Assets 1,089,546 1,021,216 66,116 2,215
Total Non-Current Assets 1,274,760,020 1,125,371,146 89,365,341 60,023,532
TOTAL ASSETS 2,092,328,975 1,713,995,308 183,937,866 194,395,802

LIABILITIES
CURRENT LIABILITIES
Financial Liabilities 104,371,837 94,915,219 6,902,887 2,553,731
Inter-Agency Payables 131,027,485 23,315,424 1,557,480 106,154,580
Intra-Agency Payables 35,602,025 25,619,392 420,227 9,562,405
Trust Liabilities 58,494,669 10,293,726 253,324 47,947,619
Deferred Credits/Unearned Income 93,329,829 63,524,416 29,330,284 475,130
Provisions 362,767 330,028 - 32,740
Other Payables 15,793,068 7,394,503 155,612 8,242,953
Total Current Liabilities 438,981,680 225,392,709 38,619,814 174,969,158
Non-Current Liabilities
Financial Liabilities 74,591,031 73,386,608 854,910 349,513
Deferred Credits/Unearned Income 47,694,231 29,329,577 17,384,386 980,268
Provisions 20,642 18,256 - 2,386
Other Payables 12,143,727 5,604,613 199,909 6,339,205
Total Non-Current Liabilities 134,449,632 108,339,055 18,439,204 7,671,373
TOTAL LIABILITIES 573,431,312 333,731,763 57,059,018 182,640,530
NET ASSETS/EQUITY
Net Assets/Equity 1,518,897,663 1,380,263,544 126,878,847 11,755,272
Total Net Assets/Equity 1,518,897,663 1,380,263,544 126,878,847 11,755,272
TOTAL LIABILITIES AND NET ASSETS/EQUITY 2,092,328,975 1,713,995,308 183,937,866 194,395,802

25
Republic of the Philippines
Local Government
Combined Statement of Financial Performance
For the Year Ended December 31, 2018
(in thousand pesos)

2017
Particulars Notes 2018
(Restated)

REVENUE
Tax Revenue 27 165,627,686 145,546,402
Share from Internal Revenue Collections (IRA) 28 414,982,826 386,729,814
Other Share from National Taxes 29 31,043,264 8,862,590
Service and Business Income 30 59,989,128 55,082,247
Shares, Grants and Donations 31 8,899,700 6,736,643
Gains 32 13,418 28,547
Total Current Operating Revenue 680,556,023 602,986,243
Less: Current Operating Expenses
Personnel Services 33 189,745,425 172,575,679
Maintenance and Other Operating Expenses 34 257,931,753 220,057,088
Financial Expenses 35 4,833,235 4,830,419
Non-Cash Expenses 36 44,062,031 35,720,909
Total Current Operating Expenses 496,572,445 433,184,095
Surplus (Deficit) from Current Operations 183,983,577 169,802,147

Add (Deduct): Transfers, Assistance and Subsidy


Transfers, Assistance and Subsidy from NGAs/
LGUs/GOCCs/Other Funds 37 27,105,917 23,362,337
Transfers, Assistance and Subsidy to NGAs/
Other LGUs/Funds 38 37,701,779 36,289,325
Net Financial Assistance/Subsidy (10,595,861) (12,926,988)

Other Non-Operating Income/(Losses)


Sale of Assets 39 8,080 74,152
Gains 40 234,332 11,637,624
Miscellaneous Income 41 2,977,106 2,188,018
Losses 42 739,956 297,163
Net Other Non-Operating Income/(Losses) 2,479,563 13,602,632

SURPLUS (DEFICIT) FOR THE PERIOD 175,867,279 170,477,791

26
Republic of the Philippines
Local Government
Combined Statement of Financial Performance
By LGU Classification
For the Year Ended December 31, 2018
(in thousand pesos)

PARTICULARS Total Provinces Cities Municipalities

REVENUE
Tax Revenue 165,627,686 12,431,280 129,943,038 23,253,368
Share from Internal Revenue Collections (IRA) 414,982,826 121,309,248 119,737,826 173,935,752
Other Share from National Taxes 31,043,264 7,781,017 6,015,230 17,247,016
Service and Business Income 59,989,128 14,914,578 28,320,239 16,754,310
Shares, Grants and Donations 8,899,700 1,899,578 3,311,473 3,688,650
Gains 13,418 1,059 5,832 6,527
Total Current Operating Revenue 680,556,023 158,336,760 287,333,638 234,885,624
Less: Current Operating Expenses
Personnel Services 189,745,425 42,776,705 68,406,339 78,562,381
Maintenance and Other Operating Expenses 257,931,753 55,812,686 116,070,934 86,048,133
Financial Expenses 4,833,235 1,314,462 1,867,601 1,651,173
Non-Cash Expenses 44,062,031 9,362,384 22,075,180 12,624,467
Total Current Operating Expenses 496,572,445 109,266,237 208,420,055 178,886,154
Surplus (Deficit) from Current Operations 183,983,577 49,070,523 78,913,584 55,999,471

Add (Deduct): Transfers, Assistance and Subsidy


Transfers, Assistance and Subsidy from NGAs/
LGUs/GOCCs/Other Funds 27,105,917 10,479,681 6,462,933 10,163,303
Transfers, Assistance and Subsidy to NGAs/
Other LGUs/Funds 37,701,779 13,438,457 14,939,964 9,323,358
Net Financial Assistance/Subsidy (10,595,861) (2,958,777) (8,477,030) 839,946

Other Non-Operating Income/(Losses)


Sale of Assets 8,080 842 3,065 4,172
Gains 234,332 190,633 25,873 17,826
Miscellaneous Income 2,977,106 604,482 1,366,115 1,006,509
Losses 739,956 352,679 338,262 49,014
Net Other Non-Operating Income/(Losses) 2,479,563 443,278 1,056,791 979,493

SURPLUS (DEFICIT) FOR THE PERIOD 175,867,279 46,555,025 71,493,344 57,818,909

27
Republic of the Philippines
Local Government
Combined Statement of Financial Performance
By Fund
For the Year Ended December 31, 2018
(in thousand pesos)

Special
PARTICULARS Total General Fund Trust Fund
Education Fund

REVENUE
Tax Revenue 165,627,686 132,837,098 32,790,174 414
Share from Internal Revenue Collections (IRA) 414,982,826 414,982,826 - -
Other Share from National Taxes 31,043,264 31,037,097 - 6,167
Service and Business Income 59,989,128 59,495,058 175,665 318,405
Shares, Grants and Donations 8,899,700 6,801,157 11,914 2,086,629
Gains 13,418 13,403 - 16
Total Current Operating Revenue 680,556,023 645,166,639 32,977,753 2,411,631
Less: Current Operating Expenses
Personnel Services 189,745,425 187,812,214 1,502,622 430,589
Maintenance and Other Operating Expenses 257,931,753 238,848,019 12,097,337 6,986,398
Financial Expenses 4,833,235 4,779,585 49,038 4,612
Non-Cash Expenses 44,062,031 39,464,070 4,487,327 110,634
Total Current Operating Expenses 496,572,445 470,903,888 18,136,324 7,532,233
Surplus (Deficit) from Current Operations 183,983,577 174,262,751 14,841,429 (5,120,602)

Add (Deduct): Transfers, Assistance and Subsidy


Transfers, Assistance and Subsidy from NGAs/
LGUs/GOCCs/Other Funds 27,105,917 19,638,246 63,217 7,404,454
Transfers, Assistance and Subsidy to NGAs/
Other LGUs/Funds 37,701,779 36,184,400 262,542 1,254,836
Net Financial Assistance/Subsidy (10,595,861) (16,546,154) (199,325) 6,149,618

Other Non-Operating Income/(Losses)


Sale of Assets 8,080 8,078 2 -
Gains 234,332 234,257 75 -
Miscellaneous Income 2,977,106 2,558,243 16,966 401,898
Losses 739,956 727,981 11,894 81
Net Other Non-Operating Income/(Losses) 2,479,563 2,072,596 5,149 401,817

SURPLUS (DEFICIT) FOR THE PERIOD 175,867,279 159,789,193 14,647,253 1,430,833

28
Republic of the Philippines
Local Government
Combined Statement of Cash Flows
For the Year Ended December 31, 2018
(in thousand pesos)

2017
Particulars Notes 2018
(Restated)

Cash Flows From Operating Activities


Total Cash Inflows 43 947,623,217 843,817,953
Total Cash Outflows 44 719,225,302 613,719,367
Net Cash Flows from Operating Activities 228,397,915 230,098,586
Cash Flows From Investing Activities
Total Cash Inflows 45 1,491,085 2,120,390
Total Cash Outflows 46 161,199,918 113,392,264
Net Cash Flows from Investing Activities (159,708,833) (111,271,873)
Cash Flows From Financing Activities
Total Cash Inflows 47 21,072,619 14,235,198
Total Cash Outflows 48 15,143,607 15,607,861
Net Cash Flows from Financing Activities 5,929,012 (1,372,663)
Total Cash Provided by Operating, Investing and Financing Activities 74,618,095 117,454,050
Cash at the Beginning of the Year 484,694,748 366,207,940
Cash Balance at the End of the Year 559,312,842 483,661,991

Republic of the Philippines


Local Government
Combined Statement of Cash Flows
For the Year Ended December 31, 2018
(in thousand pesos)

2017
Particulars Notes 2018
(Restated)

Cash Inflows
Operating Activities 43 947,623,217 843,817,953
Investing Activities 45 1,491,085 2,120,390
Financing Activities 47 21,072,619 14,235,198
Total Cash Inflows 970,186,921 860,173,541
Cash Outflows
Operating Activities 44 719,225,302 613,719,367
Investing Activities 46 161,199,918 113,392,264
Financing Activities 48 15,143,607 15,607,861
Total Cash Outflows 895,568,826 742,719,491
Total Cash Provided by Operating, Investing and Financing Activities 74,618,095 117,454,050
Cash at the Beginning of the Year 484,694,748 366,207,940
Cash Balance at the End of the Year 559,312,842 483,661,991

Notes:
1 Difference in CY 2018 of P0.06 million between the Total Cash and Cash Equivalents in the Statement of Financial Position (SFPo) and
Cash at the End of the Period in the Statement of Cash Flows (SCF) is due to the discrepancies in the cash balances per submitted
SFPos and SCFs of the LGUs: a) Quezon City, NCR, b) Talipao, Sulu, ARMM, and c) unsubmitted SCF of Masaysay, Palawan,
Region IV-B.
2 Difference in CY 2017 of P0.15 million between the Total Cash and Cash Equivalents in the Statement of Financial Position (SFPo) and
Cash at the End of the Period in the Statement of Cash Flows (SCF) is due to the discrepancy in the cash balances per submitted
SFPo and SCF of Municipality of Mayoyao, Ifugao, CAR.

29
Republic of the Philippines
Local Government
Combined Statement of Cash Flows, By LGU Classification
For the Year Ended December 31, 2018
(in thousand pesos)

Particulars Total Provinces Cities Municipalities

Cash Flows From Operating Activities


Total Cash Inflows 947,623,217 238,353,560 375,796,323 333,473,335
Total Cash Outflows 719,225,302 179,083,013 283,632,630 256,509,659
Net Cash Flows from Operating Activities 228,397,915 59,270,547 92,163,692 76,963,676
Cash Flows From Investing Activities
Total Cash Inflows 1,491,085 693,478 85,348 712,259
Total Cash Outflows 161,199,918 42,156,734 59,964,787 59,078,396
Net Cash Flows from Investing Activities (159,708,833) (41,463,255) (59,879,440) (58,366,137)
Cash Flows From Financing Activities
Total Cash Inflows 21,072,619 5,874,566 8,037,791 7,160,261
Total Cash Outflows 15,143,607 3,902,035 6,856,901 4,384,671
Net Cash Flows from Financing Activities 5,929,012 1,972,531 1,180,890 2,775,591
Total Cash Provided by Operating, Investing and Financing Activities 74,618,095 19,779,823 33,465,142 21,373,129
Cash at the Beginning of the Year 484,694,748 132,263,856 204,158,965 148,271,927
Cash Balance Ending December 31, 2018 559,312,842 152,043,678 237,624,107 169,645,057

Republic of the Philippines


Local Government
Combined Statement of Cash Flows, By LGU Classification
For the Year Ended December 31, 2018
(in thousand pesos)

Particulars Total Provinces Cities Municipalities

Cash Inflows
Operating Activities 947,623,217 238,353,560 375,796,323 333,473,335
Investing Activities 1,491,085 693,478 85,348 712,259
Financing Activities 21,072,619 5,874,566 8,037,791 7,160,261
Total Cash Inflows 970,186,921 244,921,604 383,919,461 341,345,855
Cash Outflows
Operating Activities 719,225,302 179,083,013 283,632,630 256,509,659
Investing Activities 161,199,918 42,156,734 59,964,787 59,078,396
Financing Activities 15,143,607 3,902,035 6,856,901 4,384,671
Total Cash Outflows 895,568,826 225,141,781 350,454,319 319,972,726
Total Cash Provided by Operating, Investing and Financing Activities 74,618,095 19,779,823 33,465,142 21,373,129
Cash at the Beginning of the Year 484,694,748 132,263,856 204,158,965 148,271,927
Cash Balance Ending December 31, 2017 559,312,842 152,043,678 237,624,107 169,645,057

30
Republic of the Philippines
Local Government
Combined Statement of Cash Flows, By Fund
For the Year Ended December 31, 2018
(in thousand pesos)

Special
General Trust
Particulars Total Education
Fund Fund
Fund

Cash Flows From Operating Activities


Total Cash Inflows 947,623,217 790,581,523 42,781,284 114,260,411
Total Cash Outflows 719,225,302 610,803,939 24,291,958 84,129,404
Net Cash Flows from Operating Activities 228,397,915 179,777,584 18,489,325 30,131,006
Cash Flows From Investing Activities
Total Cash Inflows 1,491,085 404,908 3,389 1,082,788
Total Cash Outflows 161,199,918 120,507,410 11,272,890 29,419,617
Net Cash Flows from Investing Activities (159,708,833) (120,102,502) (11,269,502) (28,336,829)
Cash Flows From Financing Activities
Total Cash Inflows 21,072,619 20,238,740 107,484 726,395
Total Cash Outflows 15,143,607 14,484,055 412,821 246,732
Net Cash Flows from Financing Activities 5,929,012 5,754,685 (305,337) 479,663
Total Cash Provided by Operating, Investing and Financing Activities 74,618,095 65,429,767 6,914,487 2,273,840
Cash at the Beginning of the Year 484,694,748 332,247,628 41,662,018 110,785,102
Cash Balance Ending December 31, 2018 559,312,842 397,677,395 48,576,505 113,058,942

Republic of the Philippines


Local Government
Combined Statement of Cash Flows, By Fund
For the Year Ended December 31, 2018
(in thousand pesos)

Special
General Trust
Particulars Total Education
Fund Fund
Fund

Cash Inflows
Operating Activities 947,623,217 790,581,523 42,781,284 114,260,411
Investing Activities 1,491,085 404,908 3,389 1,082,788
Financing Activities 21,072,619 20,238,740 107,484 726,395
Total Cash Inflows 970,186,921 811,225,171 42,892,156 116,069,594
Cash Outflows
Operating Activities 719,225,302 610,803,939 24,291,958 84,129,404
Investing Activities 161,199,918 120,507,410 11,272,890 29,419,617
Financing Activities 15,143,607 14,484,055 412,821 246,732
Total Cash Outflows 895,568,826 745,795,404 35,977,669 113,795,753
Total Cash Provided by Operating, Investing and Financing Activities 74,618,095 65,429,767 6,914,487 2,273,840
Cash at the Beginning of the Period 484,694,748 332,247,628 41,662,018 110,785,102
Cash Balance Ending December 31, 2018 559,312,842 397,677,395 48,576,505 113,058,942

31
Republic of the Philippines
Local Government
Combined Statement of Changes in Net Assets/Equity
For the Year Ended December 31, 2018
(in thousand pesos)

2017
Particulars 2018
(Restated)
NET ASSETS/EQUITY
Balance at January 1, 2018 1,261,965,152 906,091,693
Add (Deduct)
Change in Accounting Policy 10,609,039 10,590,090
Prior Period Errors (8,224,623) 3,046,184
Other Adjustments 1,051,358
Restated Balance 1,265,400,925 919,727,967
Add (Deduct) Changes in net assets/equity during the Year
Adjustment of net revenue recognized directly in net assets/equity 77,629,460 171,759,394
Suplus (Deficit) for the period 175,867,279 170,477,791
Total changes during the year 253,496,738 342,237,185
Balance at December 31, 2018 1,518,897,663 1,261,965,152

Republic of the Philippines


Local Government
Combined Statement of Changes in Net Assets/Equity - By LGU Classification
For the Year Ended December 31, 2018
(in thousand pesos)

Particulars TOTAL Provinces Cities Municipalities


NET ASSETS/EQUITY
Balance at January 1, 2018 1,261,965,152 330,233,621 635,476,786 296,254,745
Add (Deduct)
Change in Accounting Policy 10,609,039 6,070,122 1,735,585 2,803,332
Prior Period Errors (8,224,623) (396,934) (8,677,861) 850,172
Other Adjustments 1,051,358 554,169 (4,890) 502,078
Total 3,435,773 6,227,357 (6,947,166) 4,155,583
Restated Balance 1,265,400,925 336,460,978 628,529,620 300,410,327
Add (Deduct) Changes in net assets/equity during the Year
Adjustment of net revenue recognized directly in net assets/equity 77,629,460 16,580,040 47,667,492 13,381,928
Suplus (Deficit) for the period 175,867,279 46,555,025 71,493,344 57,818,910
Total changes during the year 253,496,738 63,135,064 119,160,836 71,200,838
Balance at December 31, 2018 1,518,897,663 399,596,042 747,690,457 371,611,165

Republic of the Philippines


Local Government
Combined Statement of Changes in Net Assets/Equity - By Fund
For the Year Ended December 31, 2018
(in thousand pesos)

Special
Particulars Total General Fund Education Trust Fund
Fund
NET ASSETS/EQUITY
Balance at January 1, 2018 1,261,965,152 1,138,537,590 113,175,519 10,252,044
Adjustment to Government Equity, beginning
Add (Deduct)
Change in Accounting Policy 10,609,039 10,558,850 1,592 48,596
Prior Period Errors (8,224,623) (7,697,951) (712,602) 185,930
Other Adjustments 1,051,358 1,217,859 (91,259) (75,243)
Total 3,435,773 4,078,758 (802,269) 159,284
Restated Balance 1,265,400,925 1,142,616,348 112,373,250 10,411,327
Add (Deduct) Changes in net assets/equity during the Year
Adjustment of net revenue recognized directly in net assets/equity 77,629,460 77,858,003 (141,655) (86,888)
Suplus (Deficit) for the period 175,867,279 159,789,193 14,647,253 1,430,833
Total changes during the year 253,496,738 237,647,197 14,505,597 1,343,944
Balance at December 31, 2018 1,518,897,663 1,380,263,544 126,878,847 11,755,272

32
Republic of the Philippines
Local Government
Statement of Comparison of Budget and Actual Amounts
For the Year Ended December 31, 2018
(in thousand pesos)

OVER-ALL TOTAL
Budgeted Amounts Difference Difference
Particulars
Original and Actual Amounts Final Budget
Original Final
Final Budget and Actual

Revenue
A. Local Sources
1. Tax Revenue
a. Tax Revenue - Property 50,541,258.19 51,509,348.35 968,090.16 47,477,043.50 4,032,304.85
b. Tax Revenue - Goods and Services 55,640,567.21 56,524,885.52 884,318.31 65,421,746.09 (8,896,860.57)
c. Other Local Taxes 13,762,710.33 15,191,921.49 1,429,211.16 11,625,306.26 3,566,615.23
Total Tax Revenue 119,944,535.73 123,226,155.36 3,281,619.63 124,524,095.85 (1,297,940.49)
2. Non-Tax Revenue
a. Service Income 19,146,100.99 19,417,355.18 271,254.19 18,351,801.62 1,065,553.55
b. Business Income 29,890,225.22 31,019,869.40 1,129,644.18 32,814,748.58 (1,794,879.18)
c. Other Income and Receipts 14,602,015.86 20,625,467.13 6,023,451.27 16,249,667.49 4,375,799.64
Total Non-Tax Revenue 63,638,342.06 71,062,691.71 7,424,349.64 67,416,217.70 3,646,474.01
B. External Sources
1. Share from the National Internal Revenue Taxes (IRA) 343,764,881.76 339,345,519.45 (4,419,362.30) 339,814,624.81 (469,105.35)
2. Share from GOCCs 9,764,576.70 8,017,417.86 (1,747,158.84) 8,144,079.65 (126,661.79)
3. Other Shares from National Tax Collections 9,650,596.73 21,043,997.80 11,393,401.07 29,948,444.75 (8,904,446.94)
a. Share from Ecozone 3,836,333.17 4,331,719.01 495,385.84 5,258,804.33 (927,085.32)
b. Share from EVAT 554,894.54 680,842.97 125,948.43 523,304.05 157,538.92
c. Share from National Wealth 1,371,869.03 2,205,674.55 833,805.52 2,689,496.36 (483,821.82)
d. Share from Tobacco Excise Tax 3,887,499.99 13,825,761.27 9,938,261.28 21,476,840.00 (7,651,078.73)
4. Other Receipts 3,324,245.75 5,561,034.75 2,236,789.00 8,357,709.62 (2,796,674.87)
a. Grants and Donations 1,367,670.55 1,820,800.07 453,129.52 3,104,267.68 (1,283,467.62)
b. Other Subsidy Income 1,956,575.20 3,740,234.68 1,783,659.48 5,253,441.93 (1,513,207.25)
5. Inter-local Transfer 1,200,263.74 4,294,555.80 3,094,292.06 2,044,768.26 2,249,787.54
6. Capital /Investment Receipts 2,442,198.95 2,203,119.48 (239,079.46) 632,398.52 1,570,720.96
a. Sale of Capital Assets 458,224.47 458,446.85 222.37 50,663.87 407,782.97
b. Sale of Investments 266,248.46 9,073.02 (257,175.44) 22,565.91 (13,492.89)
c. Proceeds from Collections of Loan Receivables 1,717,726.02 1,735,599.62 17,873.60 559,168.74 1,176,430.88
C. Receipts from Borrowings 14,781,397.82 38,784,333.70 24,002,935.88 23,873,943.43 14,910,390.27
Total Revenue and Receipts 568,511,039.23 613,538,825.92 45,027,786.68 604,756,282.57 8,782,543.34

Expenditures
Current Appropriations
General Public Services
Personal Services 99,065,975.62 99,707,049.84 641,074.22 88,539,694.72 11,167,355.12
Maintenance and Other Operating Expenses 106,488,142.56 120,857,072.73 14,368,930.18 101,688,753.27 19,168,319.47
Capital Outlay 17,008,880.54 31,580,608.59 14,571,728.05 13,468,794.75 18,111,813.84
Education
Personal Services 4,886,256.98 4,839,025.51 (47,231.47) 3,495,594.30 1,343,431.22
Maintenance and Other Operating Expenses 13,625,792.85 15,072,011.46 1,446,218.61 10,781,446.99 4,290,564.47
Capital Outlay 7,747,978.47 10,432,972.96 2,684,994.49 4,091,711.77 6,341,261.19
Health, Nutrition and Population Control
Personal Services 35,575,949.15 34,620,421.72 (955,527.42) 30,034,453.56 4,585,968.17
Maintenance and Other Operating Expenses 27,045,028.13 28,491,643.63 1,446,615.50 24,071,729.23 4,419,914.40
Capital Outlay 1,772,766.19 3,578,723.23 1,805,957.05 1,124,950.10 2,453,773.13
Labor and Employment
Personal Services 401,502.18 391,420.57 (10,081.61) 276,648.68 114,771.89
Maintenance and Other Operating Expenses 655,440.27 694,478.71 39,038.45 526,977.88 167,500.84
Capital Outlay 22,148.01 32,306.06 10,158.05 20,837.20 11,468.86
Housing and Community Development
Personal Services 1,378,292.53 1,333,508.80 (44,783.73) 1,090,284.57 243,224.23
Maintenance and Other Operating Expenses 5,969,842.06 6,490,394.27 520,552.22 5,796,144.86 694,249.41
Capital Outlay 1,376,942.45 1,894,130.66 517,188.21 847,062.13 1,047,068.53
Social Services and Social Welfare
Personal Services 10,165,685.54 10,145,104.03 (20,581.51) 8,744,777.03 1,400,327.01
Maintenance and Other Operating Expenses 21,563,067.80 23,647,091.51 2,084,023.71 19,156,337.04 4,490,754.47
Capital Outlay 2,061,722.72 2,721,386.78 659,664.06 1,038,071.08 1,683,315.69

33
Republic of the Philippines
Local Government
Statement of Comparison of Budget and Actual Amounts
For the Year Ended December 31, 2018
(in thousand pesos)

OVER-ALL TOTAL
Budgeted Amounts Difference Difference
Particulars
Original and Actual Amounts Final Budget
Original Final
Final Budget and Actual

Economic Services
Personal Services 27,625,281.82 27,216,766.18 (408,515.64) 24,792,688.56 2,424,077.62
Maintenance and Other Operating Expenses 27,967,797.21 30,817,556.08 2,849,758.87 25,365,557.46 5,451,998.62
Capital Outlay 17,052,924.67 35,745,262.53 18,692,337.86 11,851,615.75 23,893,646.78
Other Purposes:
Debt Service
Financial Expense 6,367,529.61 8,187,331.07 1,819,801.46 5,585,980.51 2,601,350.56
Amortization 6,800,313.06 6,302,800.21 (497,512.86) 5,561,986.96 740,813.25
LDRRMF
Maintenance and Other Operating Expenses 15,146,879.36 15,019,390.93 (127,488.43) 9,729,385.30 5,290,005.63
Capital Outlay 8,420,077.26 9,171,920.42 751,843.16 4,003,203.24 5,168,717.18
20% Development Fund
Maintenance and Other Operating Expenses 15,935,019.87 17,381,984.82 1,446,964.95 10,797,744.10 6,584,240.73
Capital Outlay 48,651,716.04 56,408,612.33 7,756,896.29 29,026,093.81 27,382,518.51
Share from National Wealth
Maintenance and Other Operating Expenses 626,369.47 646,495.37 20,125.91 520,276.54 126,218.83
Capital Outlay 887,506.62 2,100,617.43 1,213,110.81 1,045,712.24 1,054,905.18
Allocation for Senior Citizens and PWD
Maintenance and Other Operating Expenses 3,119,140.62 3,473,610.68 354,470.05 2,917,580.68 556,030.00
Capital Outlay 434,455.30 678,844.66 244,389.36 349,971.62 328,873.05
Others
Personal Services 2,860,359.69 2,708,961.82 (151,397.87) 2,280,987.04 427,974.79
Maintenance and Other Operating Expenses 22,028,780.54 26,340,212.18 4,311,431.64 20,009,743.27 6,330,468.91
Capital Outlay 17,406,736.87 28,009,461.76 10,602,724.89 13,136,586.06 14,872,875.70
Total Current Appropriations 578,142,302.06 666,739,179.54 88,596,877.48 481,769,382.27 184,969,797.27
Continuing Appropriations
General Public Services
Capital Outlay 23,108,893.88 24,834,395.73 1,725,501.85 10,432,371.95 14,402,023.78
Education
Capital Outlay 29,015,601.79 6,216,656.90 (22,798,944.89) 2,651,821.31 3,564,835.59
Health, Nutrition and Population Control
Capital Outlay 3,773,312.92 3,763,644.01 (9,668.91) 1,409,764.55 2,353,879.46
Labor and Employment
Capital Outlay 98,644.11 101,726.78 3,082.66 73,974.17 27,752.61
Housing and Community Development
Capital Outlay 3,790,764.06 3,728,019.77 (62,744.29) 1,537,811.86 2,190,207.91
Social Services and Social Welfare
Capital Outlay 3,435,636.39 3,376,936.34 (58,700.06) 1,666,435.82 1,710,500.51
Economic Services
Capital Outlay 26,646,441.07 31,394,089.60 4,747,648.54 11,454,835.76 19,939,253.84
Other Purposes:
Capital Outlay 28,203,243.28 28,198,999.18 (4,244.10) 12,029,154.07 16,169,845.11
Total Continuing Appropriations 118,072,537.51 101,614,468.31 (16,458,069.20) 41,256,169.50 60,358,298.81
Total Appropriations 696,214,839.57 768,353,647.85 72,138,808.28 523,025,551.78 245,328,096.07
Summary:
Expenditures
Current Appropriations
Total Personal Services 181,959,303.52 180,962,258.49 (997,045.04) 159,255,128.45 21,707,130.03
Total Maintenance and Other Operating Expenses260,171,300.73 288,931,942.38 28,760,641.65 231,361,676.61 57,570,265.77
Total Capital Outlay 122,843,855.13 182,354,847.40 59,510,992.26 80,004,609.74 102,350,237.66
Debt Service
Financial Expense 6,367,529.61 8,187,331.07 1,819,801.46 5,585,980.51 2,601,350.56
Amortization 6,800,313.06 6,302,800.21 (497,512.86) 5,561,986.96 740,813.25
Total Current Appropriations 578,142,302.06 666,739,179.54 88,596,877.48 481,769,382.27 184,969,797.27
Continuing Appropriations
Total Capital Outlay 118,072,537.51 101,614,468.31 (16,458,069.20) 41,256,169.50 60,358,298.81
Total Continuing Appropriations 118,072,537.51 101,614,468.31 (16,458,069.20) 41,256,169.50 60,358,298.81
Total Appropriations 696,214,839.57 768,353,647.85 72,138,808.28 523,025,551.78 245,328,096.07

34
Republic of the Philippines
Local Government
Combined Notes to Financial Statements
For the Year Ended December 31, 2018

1. GENERAL INFORMATION

The AFR for the Local Government for the year ended December 31, 2018 presents
the combined FSs submitted by 81 provinces, 145 cities, and 1,453 municipalities or
a total of 1,679 LGUs, which is 97.90 percent of the 1,715 LGUs. The FSs of 36 LGUs
listed in Annex 3 are not included in the combination, 33 of which did not submit their
CY 2018 FSs, while 3 submitted their CY 2018 FSs on or before the cut-off date of
July 31, 2019 but did not submit their CY 2017 FSs.

Following the requirement of PPSAS 1-Presentation of Financial Statements on


presenting comparative figures in the FSs, the CY 2017 balances were adjusted to
include the accounts of 56 LGUs shown in Annex 1 since they were able to submit
their FSs for CYs 2018 and 2017. On the other hand, 18 municipalities shown in
Annex 2 were excluded from the CY 2017 balances due to non-submission of their
CY 2018 FSs on the cut-off date.

2. STATEMENT OF COMPLIANCE AND BASIS OF


PREPARATION OF FINANCIAL STATEMENTS

The combined FSs were prepared in accordance with the PPSAS adopted through
COA Resolution No. 2014-003 dated January 24, 2014 but implementation thereof by
LGUs was deferred from January 1, 2014 to January 1, 2015 under COA Resolution
No. 2015-009 dated March 9, 2015. The accounts used are in conformity with the
Revised Chart of Accounts for LGUs prescribed under COA Circular No. 2015-009
dated December 1, 2015. The FSs are presented in accordance with the prescribed
formats under COA Circular No. 2016-004 dated September 30, 2016.

Detailed disclosures on FSs presentation as required by PPSAS are not completely


presented in this Report. Readers interested in the detailed disclosures may refer to the
audited FSs contained in the Annual Audit Reports on individual LGUs that are posted
in the COA website (http://coa.gov.ph).

The Statement of Cash Flows is prepared using the direct method whereby major
classes of gross cash receipts and gross cash payments are disclosed. The FSs were
prepared based on historical cost, unless stated otherwise.

3. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

3.1. Currency of presentation

All amounts presented in this Report are expressed in Philippine peso, rounded
off to the nearest thousands (P000), unless stated otherwise. The difference

35
between the total amount and sum of components presented in the tables is due
to rounding off.

3.2. Accrual basis of accounting

The combined FSs of LGUs were prepared on an accrual basis in accordance


with applicable PPSAS. Accrual basis of accounting means transactions and
events are recognized in the period in which they occur. All expenses are
recognized and reported in the FSs in the period to which they relate. Income
is on accrual basis except for transactions where accrual basis is impractical or
when the law requires other methods.

3.3. Combination

The combined FSs presented in this Report are based on the consolidated FSs
of 1,679 LGUs. The consolidated FSs present financial data of the LGUs and
their respective controlled economic enterprises. The controlled funds are all
those over which the entity has the power to govern the financial and operating
activities. Inter-fund transactions, balances and unrealized gains and losses on
transactions between funds are eliminated.

The LGUs maintain three funds namely: GF, SEF and TF. Special accounts
under the GF are also maintained, which include, among others, the following
funds and economic enterprises:

a. 20% Development Fund


b. Local Disaster Risk Reduction and Management Fund
c. Hospital Operations
d. School Operations
e. Lending Programs
f. Market Operations
g. Slaughter House Operations
h. Toll Roads and Bridges Operations
i. Transportation Operations
j. Recreational Center Operations
k. Cemeteries Operations
l. Parks Operations
m. Pasalubong Center Operations
The combined FSs reflect the assets, liabilities, revenue, expenses, cash flows,
changes in net assets/equity, comparison of budget and actual amounts, and
corresponding notes to FSs covering all funds of the LGUs concerned.

3.4. Presentation of financial statements

The general purpose FSs listed below were prepared in accordance with
applicable PPSAS:

a. Statement of Financial Position;


b. Statement of Financial Performance;
c. Statement of Cash Flows;

36
d. Statement of Changes in Net Assets/Equity;
e. Statement of Comparison of Budget and Actual Amounts; and
f. Notes to Financial Statements.

3.5. Correction of prior years’ errors

Prior years’ errors requiring adjustments are corrected retrospectively by


adjusting the Accumulated Surplus/(Deficit) and related accounts.

3.6. Changes in accounting policies and estimates

The LGUs recognized the effects of changes in accounting policy


retrospectively. If retrospective application is impractical, prospective
application is used.

The effects of changes in accounting estimates are applied prospectively by


including the adjustments in surplus or deficit.

3.7. Foreign currency transactions

Transactions in foreign currencies are initially accounted for at the rate of


exchange on the date of the transaction. Trade receivables and payables
denominated in foreign currency are valued at the SFPos reporting date by
applying the exchange rate on that date. Exchange differences arising on (a)
the settlement of monetary items, or (b) translating monetary items at rates
different from those at which they were translated on initial recognition during
the period or in previous FSs, are recognized in surplus or deficit in the period
in which they arise.

3.8. Borrowing costs

Borrowing costs are recognized under the allowed alternative treatment,


wherein costs are recognized as expenses in the period in which they are
incurred, except the costs that are directly attributable to the acquisition,
construction, or production of a qualifying asset which are capitalized as part
of the cost of the asset. Such borrowing costs are capitalized over the period
during which the asset is being acquired or constructed and borrowings have
been incurred. Capitalization ceases when construction of the asset is
complete.

3.9. Related parties

The LGU regards a related party as a person or an entity with the ability to
exert control individually or jointly, or to exercise significant influence over
the LGU, or vice versa. Members of key management such as governors, vice-
governors, mayors, and vice-mayors, sanggunian members, and department
heads are regarded as related parties.

37
3.10. Interests in joint ventures

The LGU has interest in a joint venture which is a jointly controlled entity,
whereby the venturers have a binding arrangement that establishes joint
control over the economic activities of the entity. The LGU recognizes its
interest in the joint venture using the equity method. The LGU contributes its
resources to the jointly controlled entity and recognizes the contributions as an
investment in the jointly controlled entity.

3.11. Revenue recognition

a. Revenue from non-exchange transactions

Taxes

The LGU recognizes revenue from taxes when the taxable event occurs
and the asset recognition criteria are met. To the extent that there is a
related condition attached that would give rise to a liability to repay the
amount, liability is recognized instead of revenue. Other non-exchange
revenue are recognized when it is probable that the future economic
benefits or service potential associated with the asset will flow to the
entity and the fair value of the asset can be measured reliably.

The LGUs availed of the five-year transitional provision for the


recognition of Tax Revenue-Real Property and Special Education Tax.

Fees and fines not related to taxes

Revenue from fees and fines, except those related to taxes, are recognized
when earned and when the asset recognition criteria are met. Deferred
income is recognized instead of revenue if there is a related condition
attached that would give rise to a liability to repay the amount.

Gifts and donations

Revenue from gifts and donations are recognized when it is probable that
the future economic benefits or service potential will flow to the entity
and the fair value of the assets can be measured reliably.

Services in-kind

Services in-kind are not recognized as asset and revenue considering the
complexities in the determination and measurement of such services.

Transfers from other government entities

Transfers from other government entities are measured at fair value and
recognized on obtaining control of the asset (cash, goods, services and
property) if the transfer is free from conditions and if it is probable that

38
the economic benefits or service potential related to the asset will flow
to the entity and can be measured reliably.

b. Revenue from exchange transactions

Rendering of services

Revenue from rendering of services is recognized by reference to the


stage of completion when the outcome of the transaction can be
estimated reliably. The stage of completion is measured by reference to
the percentage of labor hours incurred to date to estimated total labor
hours for each contract.

Where the contract outcome cannot be measured reliably, revenue is


recognized only to the extent of the recoverability of the expenses
already recognized.

Sale of goods

Revenue from the sale of goods is recognized when the significant risks
and rewards of ownership are transferred to the buyer, usually on
delivery of the goods, the entity retains neither continuing management
involvement to the degree usually associated with ownership nor
effective control over the goods sold, the amount of revenue can be
measured reliably, it is probable that future economic benefits or service
potential associated with the transaction will flow to the entity, and cost
incurred or to be incurred in respect of the transaction can be measured
reliably.

Interest income

Interest income is accrued using the effective yield method. The effective
yield discounts estimated future cash receipts through the expected life
of the financial asset to that asset’s net carrying amount. The method
applies this yield to the outstanding principal to determine interest
income for each period.

Dividends

Dividends or similar distributions are recognized when the entity’s right


to receive payments is established.

Rental income

Rental income arising from operating leases on investment property is


accounted for on a straight line basis over the lease terms.

39
3.12. Financial assets

a. Initial recognition and measurement

LGUs recognize financial assets in their respective SFPos when they


become party to the contractual provisions of the instrument. A financial
asset is measured initially at its fair value plus, in the case of financial
asset not measured at fair value through surplus or deficit, transaction
costs that are directly attributable to the acquisition or issue of the
financial asset.
Financial assets are classified as: (1) financial assets at fair value through
surplus or deficit, (2) loans and receivables, (3) held-to-maturity
investments, and (4) available-for-sale financial assets, as appropriate.

b. Subsequent measurement

The subsequent measurement of financial assets depends on their


classification.

After initial recognition, LGUs measure financial assets, including


derivatives that are assets, at their fair values, without any deduction for
transaction costs they may incur on sale or other disposal, except for the
following financial assets:

i. Loans and receivables measured at amortized cost using the effective


interest method;
ii. Held-to-maturity investments measured at amortized cost using the
effective interest method; and
iii. Investments in equity instruments that do not have a quoted market
price in an active market and whose fair value cannot be reliably
measured and derivatives that is linked to and must be settled by
delivery of such unquoted equity instruments, which are measured at
cost.

c. Impairment

The LGU assesses at each reporting date whether there is objective


evidence that a financial asset or a group of assets is impaired. A financial
asset or a group of financial assets is deemed impaired if there is
objective evidence of impairment as a result of one or more events that
occurred after the initial recognition of the asset and that loss event has
an impact on the estimated future cash flows of the financial asset or the
group of financial assets that can be reliably estimated. Evidence of
impairment may include the following indicators:

i. The debtors or a group of debtors are experiencing significant


financial difficulty;
ii. Default or delinquency in interest or principal payments;
iii. The probability that debtors will enter bankruptcy or other financial
reorganization; and

40
iv. Observable data indicates a measurable decrease in estimated future
cash flows (e.g., changes in arrears or economic conditions that
correlate with defaults).

If there is objective evidence that an impairment loss of financial assets


has been incurred, the amount of the loss is measured as the difference
between the asset’s carrying amount and the present value of the
estimated future cash flows discounted at the financial asset’s original
effective interest rate. The carrying amount of the asset is reduced
through the use of the allowance account, and the amount of the loss is
recognized in the SFPer.

d. Derecognition

LGUs derecognize a financial asset or, where applicable, a part of a


financial asset or part of a group of similar financial asset when:

i. the contractual rights to the cash flows from the financial asset
expired or are waived; and
ii. the entity has transferred its contractual rights to receive the cash
flows of the financial assets, or retains the contractual rights to
receive the cash flows of the financial assets but assumes a
contractual obligation to pay the cash flows to one or more recipients
in an arrangement that meets the conditions set forth in PPSAS 29-
Financial Instruments: Recognition and Measurement; and either the
entity has:

 transferred substantially all the risks and rewards of ownership of


the financial asset; or
 neither transferred nor retained substantially all the risks and
rewards of ownership of the financial asset, but has transferred
the control of the asset.

3.13. Financial liabilities

a. Initial recognition and measurement

LGUs recognize financial liabilities in their respective books of accounts


when they become party to the contractual provisions of the instrument.
A financial liability is measured initially at its fair value plus, in the case
of financial liability not measured at fair value through surplus or deficit,
transaction costs that are directly attributable to the acquisition or issue
of the financial liability.

Financial liabilities are classified as: (1) financial liabilities at fair value
through surplus or deficit or (2) loans and borrowings, as appropriate.
LGUs’ financial liabilities include trade and other payables, bank
overdrafts, loans and borrowings.

41
b. Subsequent measurement

After initial recognition, LGUs measure all financial liabilities at


amortized cost using the effective interest method, except for:

i. Financial liabilities at fair value through surplus or deficit. Such


liabilities, including derivatives that are liabilities, are measured at
fair value except for a derivative liability that is linked to and must
be settled by delivery of an unquoted equity instrument whose fair
value cannot be reliably measured, which shall be measured at cost;
ii. Financial liabilities that arise when transfer of a financial asset does
not qualify for derecognition or when the continuing involvement
approach applies;
iii. Financial guarantee contracts which are measured at the higher of the
amount determined as provision, and the amount initially recognized
net of cumulative amortization recognized; and
iv. Commitments to provide a loan at below-market interest rate which
are measured at the higher of the amount determined as provision,
and the amount initially recognized less, when appropriate,
cumulative amortization recognized.

Amortized cost is calculated by taking into account any discount or


premium on acquisition and fees or costs that are an integral part of the
effective interest rate.

c. Derecognition

LGUs remove a financial liability (or a part of a financial liability) from


their SFPos when the obligation specified in the contract is discharged,
waived or cancelled, or expired.

When an existing financial liability is replaced by another from the same


lender on substantially different terms, or the terms of an existing liability
was substantially modified, such an exchange or modification is treated
as a derecognition of the original liability and the recognition of a new
liability. The difference between the carrying amount of a financial
liability (or part of a financial liability) extinguished or transferred to
another party and the consideration paid, including any non-cash assets
transferred or liability assumed, shall be recognized in surplus or deficit.

Gains or losses

A gain or loss arising from a change in the fair value of a financial asset
or financial liability is recognized as follows:

i. A gain or loss on a financial asset or financial liability classified as


at fair value through surplus or deficit shall be recognized in surplus
or deficit.
ii. A gain or loss on an available-for-sale financial asset is recognized
directly in net assets/equity through the SCNA/E, except for

42
impairment losses and foreign exchange gains and losses, until the
financial asset is derecognized, at which time the cumulative gain or
loss previously recognized in net assets/equity is recognized in
surplus or deficit. However, interest calculated using the effective
interest method is recognized in surplus or deficit. Dividends or
similar distributions on an available-for-sale equity instrument are
recognized in surplus or deficit when the LGUs’ right to receive
payment is established.

Gains and losses on loans and borrowings are recognized in surplus or


deficit when the liabilities are derecognized as well as through the
effective interest method amortization process.

3.14. Cash and cash equivalents

Cash and Cash Equivalents comprise of cash on hand and cash in bank,
deposits on call and highly liquid investments purchased three months or less
before their maturity, which are readily convertible to known amount of cash
and are subject to an insignificant risk of changes in value.

Petty Cash Fund (PCF) is maintained on an imprest system wherein


replenishment is charged to the expense account. The PCF is not used to
purchase regular inventory items for stock and other disbursements which
should be paid through checks.

3.15. Inventories

Inventories are recognized and measured at cost upon initial recognition. For
inventories received through non-exchange transactions (for no cost or for a
nominal cost), the cost is measured at its fair value at the date of the
acquisition.

After initial recognition, inventory is measured at the lower of cost and net
realizable value. However, to the extent that a class of inventory is distributed
or deployed at no charge or for a nominal charge, that class of inventory is
measured at the lower of cost and current replacement cost.

Inventory is recorded using perpetual inventory method wherein regular


purchases are coursed through the inventory account. Inventories are
recognized as expense when issued for utilization or consumption in the
ordinary course of operation.

3.16. Investment property

Investment Property is either a land or a building or part of a building or both,


held by the owner or a lessee under a finance lease to earn rentals or for capital
appreciation, or both.

43
a. Initial recognition and subsequent measurement

Investment Property is measured initially at cost, including transaction


costs. The carrying amount includes the replacement cost of components
of an existing investment property at the time that cost is incurred if the
recognition criteria are met.

Investment Property acquired through non-exchange transaction is


measured at its fair value at the date of acquisition. Subsequent to initial
recognition, investment property is measured using the cost model and is
depreciated over its estimated useful life. Investment Property is also
tested for impairment and impairment losses are also recognized when
appropriate. Impairment is a loss in the future economic benefits or
service potential of an Investment Property. In the case of Investment
Property, Building, impairment is a loss in the future economic benefits
or service potential over and above the systematic recognition of the loss
of the asset’s future economic benefits or service potential through
depreciation. After recognition of an impairment loss, the depreciation
charge of the Investment Property shall be adjusted in future periods to
allocate the asset’s revised carrying amount over its remaining useful
life.

Investment property is derecognized either when this has been disposed


of or when the investment property is permanently withdrawn from use.
The difference between the net disposal proceeds and the carrying
amount of the asset is recognized in surplus or deficit in the period of
derecognition. Transfers to or from investment property are made only
when there is a change in use.

3.17. Property, plant and equipment

Property, Plant and Equipment (PPE) is a tangible asset that is purchased,


constructed, developed or otherwise acquired; held for use in the production
or supply of goods or services or to produce program outputs; for rental to
others; for administrative purposes; expected to be used during more than one
reporting period; and not intended for resale in the ordinary course of
operations.

a. Initial recognition and subsequent measurement

PPE is initially measured at cost. If acquired through a non-exchange


transaction, the initial cost is its fair value at the date of acquisition. Cost
includes the purchase price and expenditures directly attributable to the
acquisition of the asset. When significant parts of the PPE are required
to be replaced at intervals, such parts are recognized as individual assets
with specific useful lives and are depreciated accordingly. Likewise,
when a major repair and maintenance is performed, its cost is recognized
in the carrying amount of the PPE as replacement if the recognition
criteria are met. All other repair and maintenance costs are recognized in
surplus or deficit as incurred.

44
Subsequently, PPE is measured at cost less accumulated depreciation and
accumulated impairment losses.

The LGUs availed of the five-year phased transitional provision for the
recognition of their Public Infrastructure from CYs 2015 to 2019.

b. Depreciation

Depreciation, which is the systematic allocation of the depreciable


amount of a PPE over its useful life, is charged on a straight-line basis.
Depreciation is charged at rates calculated to allocate cost of the asset
less estimated residual value of at least five percent (5%), over its
estimated useful life. Depreciation commences when the PPE becomes
available for use.

c. Impairment

PPE is assessed at each reporting date to determine the existence of


impairment, which is recognized when the carrying amount is greater
than the estimated recoverable service amount. Impairment is a loss in
the future economic benefits or service potential over and above the
systematic recognition of the loss of the PPE’s future economic benefits
or service potential through depreciation. After recognition of an
impairment loss, the depreciation charge of the PPE shall be adjusted in
future periods to allocate the asset’s revised carrying amount over its
remaining useful life.

d. Derecognition

LGUs derecognize items of PPE and/or any significant part of a PPE


upon disposal or when no future economic benefits or service potential
are expected from its continued use. Any gain or loss arising from
derecognition of the asset is included in surplus or deficit.

3.18. Leases

a. LGU as a lessor

Leases in which the LGUs do not transfer substantially all the risks and
benefits incidental to ownership of an asset are classified as operating
leases. Initial direct costs incurred in negotiating an operating lease are
added to the carrying amount of the leased asset and recognized over the
lease term. Rent received from an operating lease is recognized as
income on a straight-line basis over the lease term. Contingent rents are
recognized as revenue in the period in which they are earned.

In a finance lease, LGU recognizes lease payments receivable at an


amount equal to the net investment in the lease. Initial direct costs are
included in the initial measurement of the finance lease receivable and
reduce the amount of revenue recognized over the lease term. The

45
recognition of finance revenue is based on a pattern reflecting a constant
periodic rate of return on the lessor’s net investment in the finance lease.

b. LGU as a lessee

Operating lease payments are recognized as operating expense in the


surplus or deficit on a straight-line basis over the lease term. Operating
lease does not transfer substantially all the risks and benefits incidental
to ownership of the leased property to the lessee.

LGU recognizes assets acquired under finance leases as assets, and the
associated lease obligations as liabilities. The assets and liabilities are
recognized at amounts equal to the fair value of the leased property or, if
lower, the present value of the minimum lease payments, each
determined at the inception of the lease.

The discount rate to be used in calculating the present value of the


minimum lease payments is the interest rate implicit in the lease, if this
is practicable to determine; if not, the lessee’s incremental borrowing rate
shall be used.

3.19. Intangible assets

Intangible Assets are identifiable non-monetary assets without physical


substance.

a. Initial recognition and subsequent measurement

Intangible asset is measured initially at cost; if acquired through a non-


exchange transaction the initial cost is its fair value at the date of
acquisition.

Intangibles are recognized as Intangible Assets if the items are


identifiable and separable, the items are controlled by the LGUs, it is
probable that the future economic benefits or service potential that are
associated with the items will flow to the LGUs, and the cost or fair value
can be measured reliably.

After initial recognition, intangible assets are carried at cost less any
accumulated amortization and accumulated impairment losses. No
intangible asset arising from research (or from the research phase of an
internal project) shall be recognized. Expenditure on research (or on the
research phase of an internal project) shall be recognized as an expense
when it is incurred.

An intangible asset arising from development (or from the development


phase of an internal project) shall be recognized if, and only if, an entity
can demonstrate all of the following:

i. The technical feasibility of completing the intangible asset so that it


will be available for use or sale;

46
ii. Its intention to complete the intangible asset and use or sell it;
iii. Its ability to use or sell the intangible asset;
iv. How the intangible asset will generate probable future economic
benefits or service potential. Among other things, the entity can
demonstrate the existence of a market for the output of the intangible
asset or the intangible asset itself or, if it is to be used internally, the
usefulness of the intangible asset;
v. The availability of adequate technical, financial and other resources
to complete the development and to use or sell the intangible asset;
and
vi. Its ability to measure reliably the expenditure attributable to the
intangible asset during its development.

b. Amortization

The useful lives of intangible assets are assessed as either finite or


indefinite. Those with finite lives are amortized over the useful life.
Those with indefinite lives are not amortized but LGUs are required to
test their intangible assets for impairment at least annually or whenever
there is an indication that the intangible asset may be impaired. The
amortization expense of an intangible asset with a finite useful life is
recognized in surplus or deficit.

Amortization shall begin when the intangible asset is available for use,
i.e., when it is in the location and condition necessary for it to be capable
of operating in the manner intended by management. Amortization shall
cease at the earlier of the date that the asset is classified as held for sale
(or included in a disposal group that is classified as held for sale) and the
date the asset is derecognized.

c. Impairment

Intangible assets are assessed at reporting date to determine the existence


of impairment, which is recognized when the carrying amount is greater
than the estimated recoverable amount or recoverable service amount.

Intangible assets with finite lives are assessed for impairment at each
reporting date whenever there is an indication that the asset is impaired.

LGUs are required to review the useful lives of their intangible assets
with indefinite lives each year to determine whether events and
circumstances continue to support an indefinite useful lives assessment
for that asset. If they do not, change in the useful life assessment from
indefinite to finite shall be accounted for as a change in an accounting
estimate.

d. Derecognition

Gains or losses arising from derecognition of an intangible asset are


measured as the difference between the net disposal proceeds and the

47
carrying amount of the asset and are recognized in surplus or deficit when
the asset is derecognized.

3.20. Provisions

Provisions are liabilities of uncertain timing and amount. Provisions are


recognized when LGUs have present obligations (legal or constructive) at the
reporting date as a result of a past event, it is probable that an outflow of
resources embodying economic benefits or service potential will be required
to settle the obligation, and a reliable estimate can be made of the amount of
obligation. The provision to be recognized should be the best estimate of the
expenditure to settle the obligation. Best estimate is an amount that an LGU
would rationally pay to settle the obligation at the reporting date or to transfer
it to a third party. Best estimate is usually based on costs incurred by the LGU
and not on the transfer price to a third party which could include a margin.
Further, the risks and uncertainties that inevitably surround many events and
circumstances shall be taken into account in reaching the best estimates of a
provision. The expense relating to any provision is presented in the SFPer.

3.21. Contingent assets and contingent liabilities

Contingent asset is not recognized in the books but details of possible asset
whose existence is contingent on the occurrence or non-occurrence of one or
more uncertain future events not wholly within the control of the LGU are
disclosed in the Notes to FSs. Contingent assets are assessed continually to
ensure that developments are appropriately reflected in the FSs. If it has
become virtually certain that an inflow of economic benefits or service
potential will arise and the asset's value can be measured reliably, the asset and
the related revenue are recognized in the FSs of the period in which the change
occurs.

Contingent liability is:

a. possible obligation that arises from past events, and whose existence will
be confirmed only by the occurrence or non-occurrence of one or more
uncertain future events not wholly within the control of the LGU; or

b. present obligation that arises from past events, but is not recognized or
recorded in the books because:

i. it is not probable that an outflow of resources embodying economic


benefits or service potential will be required to settle the obligation;
or
ii. the amount of the obligation cannot be measured or valued with
sufficient reliability.

LGUs do not recognize contingent liabilities in the books of accounts but they
are required to disclose contingent liabilities in the Notes to FSs unless the
possibility of an outflow of resources embodying economic benefits or service

48
potential is remote, in which case, contingent liabilities should not be
disclosed.

Contingent liabilities may develop in a way not initially expected. Hence, they
are assessed continually to determine whether an outflow of resources
embodying economic benefits or service potential has become probable. If it
becomes probable that an outflow of future economic benefits or service
potential will be required for an item previously treated as a contingent
liability, a provision is recognized in the period in which the change in
probability occurs, except in the extremely rare circumstances where no
reliable estimate can be made.

3.22. Nature and purpose of reserves

LGUs create and maintain reserves in terms of specific requirements.

Sinking Fund

LGUs maintain sinking fund as required in the agreements for


issue/acquisition of long term indebtedness. The funds maintained are used to
pay the interest and the amortization of the principal. Cash back up are placed
in investments until realized.

3.23. Budget information

The annual budget is prepared on the modified cash basis, that is all planned
costs and income are presented in a single statement to determine the needs of
the LGUs. As a result of the adoption of the modified cash basis for budgeting
purposes, there are basis, timing and entity differences that would require
reconciliation between the actual amounts presented on a comparable basis to
the budget as presented in the SCBAA and the actual amounts presented in
other FSs such as the SFPer and SCF.

LGUs prepare separate FS or the SCBAA since the budget and the FSs are not
prepared on a comparable basis. The SCBAA presents the original and final
budget and the actual amounts on a comparable basis to the budget. The actual
amounts presented on a comparable basis to the budget are reconciled with the
actual amounts presented in the FSs identifying separately any basis, timing
and entity differences. The reconciliation is disclosed on the face of the
SCBAA or in the Notes to FSs.

3.24. Impairment of non-financial assets

a. Impairment of cash-generating assets

At each reporting date, LGUs assess whether there is an indication that


an asset may be impaired. If any indication exists, or when annual
impairment testing for an asset is required, the LGUs estimate the asset's
recoverable amount. An asset's recoverable amount is the higher of an
asset's or cash-generating unit's fair value less costs to sell and its value

49
in use and is determined for an individual asset, unless the asset does not
generate cash inflows that are largely independent of those from other
assets or groups of assets.

Where the carrying amount of an asset or the cash-generating unit


exceeds its recoverable amount, the asset is considered impaired and is
written down to its recoverable amount. In assessing value in use, the
estimated future cash flows are discounted to their present value using a
discount rate that reflects current market assessments of the time value
of money and the risks specific to the asset. In determining fair value less
costs to sell, recent market transactions are taken into account, if
available. If no such transactions can be identified, an appropriate
valuation model is used.

LGUs assess at each reporting date whether there is any indication that
an impairment loss recognized in prior periods for an asset may no longer
exist or may have decreased. If such indication exists, LGUs estimate the
recoverable amount of the assets taking into account external and internal
sources of information. Then, a previously recognized impairment loss
is reversed. The reversal is limited so that the carrying amount of the
asset does not exceed its recoverable amount, nor exceed the carrying
amount that would have been determined, net of depreciation, had no
impairment loss been recognized for the asset in prior years. Such
reversal is recognized in surplus or deficit.

b. Impairment of non-cash generating assets

LGUs assess at each reporting date whether there is an indication that a


non-cash-generating asset may be impaired. If any indication exists, or
when annual impairment testing for an asset is required, LGUs estimate
the asset's recoverable service amount. An asset's recoverable service
amount is the higher of the non-cash generating asset's fair value less
costs to sell and its value in use.

Where the carrying amount of an asset exceeds its recoverable service


amount, the asset is considered impaired and is written down to its
recoverable service amount.

In assessing value in use, LGUs adopt the depreciated replacement cost


approach. Under this approach, the present value of the remaining service
potential of an asset is determined as the depreciated replacement cost of
the asset. The depreciated replacement cost is measured as the
reproduction or replacement cost of the asset, whichever is lower, less
accumulated depreciation calculated on the basis of such cost, to reflect
the already consumed or expired service potential of the asset.

In determining fair value less costs to sell, the price of an asset in a


binding agreement in an arm's length transaction, adjusted for
incremental costs that would be directly attributed to the disposal of the
asset is used. If there is no binding agreement, but the asset is traded on

50
an active market, fair value less cost to sell is the asset's market price less
cost of disposal. If there is no binding sale agreement or active market
for an asset, the LGU determines fair value less cost to sell based on the
best available information.

For each asset, an assessment is made at each reporting date as to whether


there is any indication that previously recognized impairment losses may
no longer exist or may have decreased. If such indication exists, LGUs
estimate the asset's recoverable service amount. A previously recognized
impairment loss is reversed only if there has been a change in the
assumptions used to determine the asset's recoverable service amount
since the last impairment loss was recognized. The reversal is limited so
that the carrying amount of the asset does not exceed its recoverable
service amount, nor exceed the carrying amount that would have been
determined, net of depreciation, had no impairment loss been recognized
for the asset in prior years. Such reversal is recognized in surplus or
deficit.

3.25. Significant judgements and sources of estimation uncertainty

The preparation of FSs in conformity with PPSAS requires the LGUs to


exercise judgment, to make estimates and use assumptions that affect the
reported amounts of assets, liabilities, revenue or expenses, and disclosures.
LGUs review their estimates on an ongoing basis using currently available
information. Changes in facts and circumstances may result in revised
estimates. Actual results could differ from the estimates. However, uncertainty
about these assumptions and estimates could result in outcomes that require a
material adjustment to the carrying amount of the asset or liability affected in
future periods.

The main estimates and judgments considered in the preparation of FSs


concern the following:

a. Judgments

In the process of applying the LGUs accounting policies, management


has made judgments, which have the most significant effect on the
amounts recognized in the combined financial statements.

b. Estimates and assumptions

The key assumptions concerning the future and other key sources of
estimation uncertainty at the reporting date that have significant risks of
causing material adjustments to the carrying amounts of assets and
liabilities within the next financial year, are described below. LGUs base
their assumptions and estimates on parameters available when they
prepare their FSs. However, existing circumstances and assumptions
about future developments may change due to market changes or
circumstances arising beyond the control of the LGUs. Such changes are
reflected in the assumptions when they occur.

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c. Useful lives and residual values

The useful lives and residual values of assets are assessed using the
following indicators to inform users of financial information of the
potential future use and value from disposal:

i. The condition of the assets based on the assessment of experts


employed by the LGUs;
ii. The nature of the asset, its susceptibility and adaptability to changes
in technology and processes;
iii. The nature of the processes in which the asset is deployed; and
iv. Changes in the market in relation to the asset.

The estimation of the useful life of the asset is a matter of judgment based
on the experience of the LGU.

d. Fair value estimation–financial instruments

Where the fair value of financial assets and financial liabilities presented
in the SFPos cannot be derived from active markets, their fair value is
determined using valuation techniques including the discounted cash
flow model. The inputs to these models are taken from observable
markets where possible.

e. Financial instruments–financial risk management

Investment in bonds is based on price quotations at the reporting date.


LGUs limit their exposure to credit risks by investing cash and cash
equivalents with only reputable financial institutions that have sound
credit rating and within specific guidelines set for the purpose. The
primary purpose of managing the LGUs’ capital is to ensure that
sufficient cash is available to support their funding requirements,
including capital expenditures, to ensure that the LGUs remain
financially sound.

4. CASH AND CASH EQUIVALENTS

Total Cash and Cash Equivalents of P559.37 billion represents 68.42 percent of the
total current assets of P817.57 billion and 26.73 percent of the total assets of P2.092
trillion. The breakdown of Cash and Cash Equivalents is as follows:

Amount
(in thousand pesos)
Account
Increase/
2018 2017
(Decrease)
Cash on Hand 7,317,101 7,008,978 308,123
Cash-Local Treasury 7,047,073 6,665,338 381,736
Petty Cash 270,027 343,640 (73,613)
Cash in Bank-Local Currency 441,917,689 400,560,945 41,356,744
Cash in Bank-Local Currency, Current Account 406,539,936 358,030,484 48,509,452
Cash in Bank-Local Currency, Savings Account 35,377,753 42,530,461 (7,152,708)

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Amount
(in thousand pesos)
Account
Increase/
2018 2017
(Decrease)

Cash in Bank-Foreign Currency 1,902,094 2,610,249 (708,155)


Cash in Bank-Foreign Currency, Current
Account 1,837,588 2,575,260 (737,672)
Cash in Bank-Foreign Currency, Savings
Account 64,507 34,990 29,517
Investments in Time Deposits (90 days) 108,236,066 73,481,965 34,754,101
Cash in Bank-Local Currency, Time Deposits 108,187,081 72,328,625 35,858,455
Cash in Bank-Foreign Currency, Time Deposits 48,985 1,153,340 (1,104,354)
Total 559,372,950 483,662,137 75,710,813

Cash-Local Treasury represents undeposited collections, which includes collections


during the last working day of the year.

Petty Cash represents the advances of petty cash custodian intended, among others,
for small maintenance/miscellaneous expenses which cannot be conveniently paid by
checks. Liquidation of these petty cash was still in process at year-end.

Cash maintained in banks are deposits to authorized government depository banks


(AGDBs), which include, among others, Land Bank of the Philippines (LBP),
Development Bank of the Philippines (DBP) and Philippine Veterans Bank (PVB),
and earn interest based on the prevailing bank deposit rates.

Investments in Time Deposits (90 days) consist of fixed-term deposits placed in


varying periods, after considering the provisions for regular and recurring cash
requirements of LGUs. These investments earn interest at the respective short-term
deposit rates.

Cash in Bank-Local Currency, Current Account amounting to P406.54 billion and


Cash in Bank-Local Currency, Time Deposits amounting to P108.19 billion represent
72.68 percent and 19.34 percent, respectively, of the total Cash and Cash Equivalents.

The following shows the regional breakdown of the reported Cash in Bank balances:

Amount
(in thousand pesos)
Region Cash in Bank-Local Cash in Bank-Local Cash in Bank-Local
Currency, Current Currency, Savings Currency, Time
Account Account Deposits
National Capital Region(NCR) 44,012,209 1,714,889 51,011,166
Cordillera Administrative
Region (CAR) 12,527,303 780,434 254,777
Region I 22,090,768 2,203,743 12,293,656
Region II 18,414,106 2,374,557 280,648
Region III 30,744,727 1,692,656 4,671,383
Region IV-A 59,876,319 2,183,596 12,756,723
Region IV-B 15,816,145 300,121 5,792,272
Region V 21,660,019 949,517 2,320,441
Region VI 23,160,798 1,004,067 3,227,258
Region VII 25,294,391 4,265,776 5,550,704
Region VIII 25,744,233 1,732,479 398,742

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Amount
(in thousand pesos)
Region Cash in Bank-Local Cash in Bank-Local Cash in Bank-Local
Currency, Current Currency, Savings Currency, Time
Account Account Deposits
Region IX 17,932,586 216,187 2,033,076
Region X 20,280,667 1,796,754 3,239,489
Region XI 14,583,214 6,981,599 242,440
Region XII 13,826,585 1,420,349 1,302,396
Region XIII 16,876,154 768,192 892,552
Sub-Region XVI 20,458,977 4,938,764 1,919,358
Autonomous Region in Muslim
Mindanao (ARMM) 3,240,735 54,072 -
Total 406,539,936 35,377,753 108,187,081

Region IV-A, NCR and Region III reported the highest Cash in Bank-Local Currency,
Current Account balances amounting to P59.88 billion, P44.01 billion and P30.74
billion, respectively.

Region XI, Sub-Region XVI and Region VII, reported the highest Cash in Bank-Local
Currency, Savings Account balances amounting to P6.98 billion, P4.94 billion and
P4.27 billion, respectively.

NCR, Region IV-A and Region I topped in Cash in Bank-Local Currency, Time
Deposits amounting to P51.01 billion, P12.76 billion and P12.29 billion, respectively.

Total Cash and Cash Equivalents of P559.37 billion in SFPos differed by P60.11
million from the Cash Balance at the end of the period of P559.31 billion in the SCF
due to the discrepancies in the cash balances in the SFPos and SCFs submitted by the
Quezon City, NCR; Talipao, Sulu, ARMM and the unsubmitted SCF of Magsaysay,
Palawan, Region IV-B.

5. INVESTMENTS (Current)

Current investments of P42.06 billion represents 87.91 percent of total investments of


P47.84 billion. The breakdown of current investments is as follows:

Amount
(in thousand pesos)
Account
Increase/
2018 2017
(Decrease)
Current
Investments in Time Deposits (91 days to 1 year) 39,651,141 39,514,721 136,420
Cash in Bank-Local Currency, Time Deposits 39,624,436 39,260,253 364,182
Cash in Bank-Foreign Currency, Time Deposits 26,205 253,471 (227,266)
Treasury Bills 501 997 (497)
Financial Assets at Fair Value through Surplus
or Deficit 3,182 3,182 -
Financial Assets Held for Trading 3,182 2,932 250
Financial Assets Designated at Fair Value
through Surplus (Deficit) - 250 (250)
Financial Assets-Held to Maturity 49,191 1,355 47,837
Investments in Treasury Bills-Local 38,297 27 38,270
Investments in Bonds-Local 10,894 1,328 9,566

54
Amount
(in thousand pesos)
Account
Increase/
2018 2017
(Decrease)
Financial Assets-Available for Sale 415,686 381,875 33,811
Investments in Stocks 415,152 381,644 33,508
Investments in Bonds 534 231 303
Financial Assets-Others 1,888,285 1,436,946 451,339
Deposits on Letters of Credit 1,451,189 1,016,783 434,406
Guaranty Deposits 284,133 259,770 24,363
Other Investments (Net) 152,962 160,392 (7,430)
Investments in Joint Venture 34,584 9,584 25,000
Sinking Fund 16,468 44,113 (27,645)
Total 42,058,537 41,391,776 666,761

The current portion of Cash in Bank-Local Currency, Time Deposits amounting to


P39.62 billion or 94.21 percent is the biggest portion of the total current investments
of P42.06 billion. Major investors are LGUs from NCR, Region VII and CAR
amounting to P14.05 billion or 33.39 percent, P10.57 billion or 25.13 percent, and
P4.99 billion or 11.86 percent, respectively, as shown below.

Amount
Region Percent
(in thousand pesos)
NCR 14,045,920 33.39
CAR 4,987,544 11.86
Region I 525,076 1.25
Region II 95,278 0.23
Region III 1,299,736 3.09
Region IV-A 2,344,853 5.58
Region IV-B 549,916 1.31
Region V 490,395 1.17
Region VI 72,957 0.17
Region VII 10,569,376 25.13
Region VIII 1,239,988 2.95
Region IX 115,094 0.27
Region X 725,947 1.73
Region XI 1,009,382 2.40
Region XII 2,645,785 6.29
Region XIII 359,362 0.85
Sub-Region XVI 905,937 2.15
ARMM 75,991 0.18
Total 42,058,537 100.00

6. RECEIVABLES (Current)

The current portion of Receivables amounting to P175.24 billion, which is net of


allowance for impairment of P157.82 million, makes up 94.10 percent of the total
Receivables of P186.23 billion and 21.43 percent of the total current assets of P817.57
billion. The breakdown of Receivables is shown below.

55
Amount
(in thousand pesos)
Account
Increase/
2018 2017
(Decrease)
Current, net of allowance for impairment
Loans and Receivables 100,228,534 77,039,110 23,189,424
Lease Receivables 768,989 647,708 121,281
Inter-Agency Receivables 14,069,861 12,079,256 1,990,604
Intra-Agency Receivables 32,036,720 28,922,636 3,114,084
Advances 11,069,181 10,844,128 225,053
Other Receivables 17,067,767 15,043,489 2,024,278
Total 175,241,051 144,576,327 30,664,724

The detailed classifications of the current portion of Receivables, net of Allowance for
Impairment, consist of the following:

Net Amount
Account
(in thousand pesos)
Loans and Receivables (Net of Allowance for Impairment) 100,228,534
Accounts Receivable 4,056,607
Real Property Tax Receivable 55,668,726
Special Education Tax Receivable 36,240,710
Notes Receivable 119,441
Loans Receivable-Government-Owned and Controlled Corporations 426,466
Loans Receivable-Local Government Units 79,129
Interests Receivable 305,972
Loans Receivables-Others 3,331,483
Lease Receivables 768,989
Operating Lease Receivable 339,881
Finance Lease Receivable 429,109
Inter-Agency Receivables 14,069,861
Due from National Government Agencies 3,018,716
Due from Government-Owned and Controlled Corporations 1,198,697
Due from Local Government Units 9,852,433
Due from Joint Venture 14
Intra-Agency Receivables 32,036,720
Due from Other Funds 23,510,472
Due from Special Accounts 5,890,089
Due from Local Economic Enterprise 2,636,159
Advances 11,069,181
Advances for Operating Expenses 1,124,628
Advances for Payroll 1,316,584
Advances to Special Disbursing Officer 5,734,255
Advances to Officers and Employees 2,893,714
Other Receivables 17,067,767
Receivables-Disallowances/Charges 3,056,988
Due from Officers and Employees 2,153,758
Due from Non-Government Organizations/People’s Organizations 1,549,440
Other Receivables 10,307,582
Total 175,241,051

56
7. INVENTORIES

Inventory Held for Consumption aggregating P17.76 billion and Inventory Held for
Distribution totaling P7.85 billion account for 66.18 percent and 29.25 percent,
respectively, of the total Inventories of P26.83 billion. This group of accounts consists
of the following:

Amount
(in thousand pesos)
Account
Increase/
2018 2017
(Decrease)
Inventory Held for Sale 1,215,980 1,015,341 200,639
Merchandise Inventory 1,215,980 1,015,341 200,639
Inventory Held for Distribution 7,846,329 5,626,687 2,219,642
Food Supplies for Distribution 273,003 346,320 (73,317)
Welfare Goods for Distribution 646,186 282,123 364,063
Drugs and Medicines for Distribution 859,862 812,836 47,026
Medical, Dental and Laboratory Supplies for
Distribution 330,073 380,667 (50,594)
Agricultural and Marine Supplies for
Distribution 765,715 449,870 315,845
Agricultural Produce for Distribution 270,673 186,382 84,291
Textbooks and Instructional Materials for
Distribution 472,280 482,411 (10,131)
Construction Materials for Distribution 427,397 411,262 16,135
Property and Equipment for Distribution 1,919,383 887,233 1,032,150
Other Supplies and Materials for Distribution 1,881,757 1,387,584 494,173
Inventory Held for Manufacturing 10,884 11,562 (678)
Raw Materials Inventory 7,169 6,872 297
Work-in-Process Inventory 1,059 1,739 (681)
Finished Goods Inventory 2,656 2,950 (295)
Inventory Held for Consumption 17,755,643 15,694,382 2,061,261
Office Supplies Inventory 1,730,182 1,623,348 106,834
Accountable Forms, Plates and Stickers
Inventory 436,257 433,662 2,595
Non-Accountable Forms Inventory 39,973 32,655 7,318
Animal/Zoological Supplies Inventory 138,617 125,891 12,725
Food Supplies Inventory 265,350 255,432 9,918
Drugs and Medicines Inventory 3,322,641 2,857,438 465,203
Medical, Dental and Laboratory Supplies
Inventory 3,611,666 2,951,352 660,314
Fuel, Oil and Lubricants Inventory 1,122,498 1,075,357 47,141
Agricultural and Marine Supplies Inventory 345,423 363,993 (18,570)
Textbooks and Instructional Materials Inventory 473,441 401,002 72,439
Military, Police and Traffic Supplies Inventory 63,877 15,414 48,463
Chemical and Filtering Supplies Inventory 41,519 29,969 11,550
Construction Materials Inventory 1,213,717 1,358,538 (144,821)
Other Supplies and Materials Inventory 4,950,482 4,170,331 780,152
Total 26,828,836 22,347,972 4,480,864

57
8. PREPAYMENTS AND DEFERRED CHARGES

This group of accounts is broken down as follows:

Amount
(in thousand pesos)
Account
Increase/
2018 2017
(Decrease)
Prepayments 11,591,493 9,904,291 1,687,202
Advances to Contractors 10,016,572 8,430,809 1,585,763
Prepaid Rent 14,689 80,609 (65,920)
Prepaid Registration 5,516 2,487 3,029
Prepaid Interest 15,231 13,854 1,377
Prepaid Insurance 370,628 308,948 61,680
Other Prepayments 1,168,857 1,067,583 101,273
Deferred Charges
Discount on Advance Payments 2,476,089 2,095,735 380,354
Total 14,067,582 12,000,025 2,067,556

9. INVESTMENTS (Non-Current)

Non-Current portion of Investments totaling P5.78 billion represents 12.09 percent of


total investments of P47.84 billion. Breakdown is as follows:

Amount
(in thousand pesos)
Account
Increase/
2018 2017
(Decrease)
Investments in Time Deposits ( more than 1 year) 1,308,448 279,920 1,028,527
Cash in Bank-Local Currency, Time Deposits 1,308,140 279,628 1,028,512
Cash in Bank-Foreign Currency, Time Deposits 11 - 11
Treasury Bills 297 292 5
Financial Assets at Fair Value through Surplus
(Deficit) 502 - 502
Financial Assets Held for Trading 502 - 502
Financial Assets-Held to Maturity 199,213 21,295 177,918
Investments in Treasury Bills-Local 173,909 21,267 152,642
Investments in Bonds-Local 25,304 28 25,276
Financial Assets-Available for Sale 1,503,992 1,610,273 (106,281)
Investments in S tocks 523,169 643,326 (120,156)
Investments in Bonds 980,823 966,947 13,876
Financial Assets-Others 1,766,040 1,559,339 206,701
Deposits on Letters of Credit 282,559 131,986 150,573
Guaranty Deposits 389,893 350,548 39,345
Other Investments 1,093,588 1,076,804 16,783
Investments in Joint Venture (net) 941,498 925,758 15,740
Sinking Fund 65,271 28,999 36,272
Total 5,784,964 4,425,584 1,359,380

58
The regional breakdown of selected accounts under long-term/non-current
investments are as follows:

Financial Assets Available


Financial Financial Investments
for Sale
Region Assets- Assets-Held in Joint
Investments Investments
Others to Maturity Venture
in Stocks in Bonds
NCR 256,911 979,450 1,169,239 - 831,687
CAR - - - 20,000 1,229
Region I - - 10,038 - -
Region II 18,181 - 30,671 1,267 10,000
Region III 548 - 47,346 152,646 69,022
Region IV-A 1,445 1,373 108,751 - 1,133
Region IV-B - - 8,021 - -
Region V - - 29,632 - -
Region VI - - 7,517 25,276 4,803
Region VII 234,762 - 72,076 5 20,000
Region VIII - - 3,243 - -
Region IX 1,041 - 4,589 - 3,500
Region X 10,281 - 189,812 - -
Region XI - - 5,242 - -
Region XII - - 6,000 - -
Region XIII - - 46,206 19 -
Sub-Region XVI - - 22,523 - -
ARMM - - 5,133 - 125
Total 523,169 980,823 1,766,040 199,213 941,498

Majority of non-current investments in stocks represents share ownership in various


corporations, which include, among others, Housing Urban Renewal Authority
(HURA) of Quezon City Government, Quezon City – P250 million, Cebu Manila
Water Development Corporation – P110.40 million and Cebu Property Ventures and
Development Corporation – P77.86 million, both in the province of Cebu.

9.1. Investments in Joint Venture

Investments in Joint Venture of P941.50 million include, among others, the


following:

a. Joint Venture of Pasay City with SM Development Corporation


reclamation and other development projects – P820.32 million
(represents fair market value of the land invested by the LGU)
b. Provincial Government of Bataan project in the 1Bataan Integrated
Transport System, Inc. – P65.00 million under Public-Private Partnership
Program
c. Joint Venture of Naga City, Cebu with Abejo Waters Corp – P20.00
million (represents the value of LGUs equity in the new company Naga
City Water System, Inc.)
d. Cagayan Province’s investment in the RORO Project of the Northeastern
Luzon Pacific Coastal Services Inc. composed of different Coastal
Provinces in Region II – P10 million

59
10. RECEIVABLES (Non-current)

The non-current portion of Receivables amounting to P10.99 billion, which is net of


allowance for impairment of P1.82 million, makes up 5.90 percent of the total
Receivables of P186.23 billion and 0.86 percent of the total non-current assets of
P1.275 trillion. This group of accounts is broken down as follows:

Amount
(in thousand pesos)
Account
Increase/
2018 2017
(Decrease)
Non-Current, net of allowance for impairment
Loans and Receivable 5,835,801 17,720,975 (11,885,174)
Lease Receivables 621 23,569 (22,949)
Inter-Agency Receivables 1,364,870 1,807,121 (442,251)
Intra-Agency Receivables 1,606,178 1,876,817 (270,639)
Advances 683,877 878,877 (195,000)
Other Receivables 1,501,302 2,177,408 (676,106)
Total 10,992,649 24,484,768 (13,492,119)

The detailed classification of the non-current portion of Receivables, net of Allowance


for Impairment, consists of the following:

Net Amount
Account
(in thousand pesos)
Loans and Receivables (Net of Allowance for Impairment) 5,835,801
Accounts Receivable 1,368,823
Real Property Tax Receivable 2,148,918
Special Education Tax Receivable 1,543,516
Notes Receivable 62,978
Loans Receivable-Government-Owned and/or Controlled
Corporations 3,864
Loans Receivable-Local Government Units 29,087
Loans Receivables-Others 678,615
Lease Receivables 621
Operating Lease Receivable 73
Finance Lease Receivable 548
Inter-Agency Receivables 1,364,870
Due from National Government Agencies 176,893
Due from Government-Owned and/or Controlled
Corporations 48,007
Due from Local Government Units 1,139,970
Intra-Agency Receivables 1,606,178
Due from Other Funds 1,527,876
Due from Special Accounts 57,796
Due from Local Economic Enterprise 20,506
Advances 683,877
Advances for Operating Expenses 38,198
Advances for Payroll 5,715
Advances to Special Disbursing Officer 495,635
Advances to Officers and Employees 144,329

60
Net Amount
Account
(in thousand pesos)
Other Receivables 1,501,302
Receivables-Disallowances/Charges 340,540
Due from Officers and Employees 122,556
Due from Non-Government
Organizations/People’s Organizations 139,860
Other Receivables 898,347
Total 10,992,649

11. INVESTMENT PROPERTY

This account consists of the following:

Amount
(in thousand pesos)
Account
Increase/
2018 2017
(Decrease)
Land and Buildings
Investment Property, Land 3,917,145 3,496,357 420,788
Less: Accumulated Impairment Losses-
Investment Property, Land 138,163 175,322 37,159
Net Value 3,778,982 3,321,035 383,629
Investment Property, Buildings 12,076,216 11,401,264 674,952
Less: Accumulated Depreciation-Investment
Property, Buildings 2,465,771 1,843,081 622,690
Net Value 9,610,445 9,555,183 52,262
Construction in Progress-Investment Property,
Buildings 275,957 195,162 80,794
Total 13,665,383 13,074,380 591,003

The total Investment Property, Buildings of P9.61 billion comprises 70.33 percent of
the total Investment Property of P13.67 billion. Regions I, II, and IX are the top
regions which reported large amounts. In the case of Investment Property, Land, NCR,
Region XIII and CAR are the top three regions. Regions VIII, I and IV-B registered
the highest amounts of Construction in Progress-Investment Property, Buildings.
Details of this group of accounts, net of accumulated depreciation and/or impairment,
are shown below:

Net Amount
(in thousand pesos)
Construction in
Region Investment Property, Investment Progress -
Land Property, Buildings Investment
Property, Buildings
NCR 999,497 820,850 -
CAR 356,725 105,103 -
Region I 35,999 3,207,478 51,684
Region II 145,741 1,266,593 4,784
Region III 219,208 504,511 3,677
Region IV-A 313,462 835,731 23,441
Region IV-B 91,915 394,437 43,227
Region V 176,970 428,159 -
Region VI 69,856 11,910 30,481

61
Net Amount
(in thousand pesos)
Construction in
Region Investment Property, Investment Progress -
Land Property, Buildings Investment
Property, Buildings
Region VII 351,599 338,842 13,015
Region VIII 25,481 360,049 72,562
Region IX 27,721 867,250 8,469
Region X 168,690 54,327 22,129
Region XI 43,960 15,415 -
Region XII 30,031 82,416 1,950
Region XIII 564,350 181,476 338
Sub-Region XVI 110,833 31,825 199
ARMM 46,943 104,073 -
Total 3,778,981 9,610,445 275,957

12. PROPERTY, PLANT AND EQUIPMENT

PPE consists of the following major account groups:

Amount
(in thousand pesos)
Account
Increase
2018 2017
(Decrease)
Land 133,331,290 123,756,642 9,574,647
Land Improvements 24,536,061 23,588,353 947,708
Infrastructure Assets 448,803,661 323,482,563 125,321,098
Buildings and Other Structures 301,827,399 276,296,644 25,530,755
Machinery and Equipment 115,575,828 98,604,663 16,971,165
Transportation Equipment 27,366,986 23,660,724 3,706,263
Furniture, Fixtures and Books 10,778,897 9,960,687 818,210
Leased Assets 1,645,740 260,766 1,384,974
Leased Assets Improvements 35,424 22,054 13,370
Construction in Progress 168,224,753 136,064,999 32,159,754
Service Concession Assets 146,050 156,893 (10,843)
Other Property, Plant and Equipment 9,835,726 10,206,937 (371,212)
Total 1,242,107,815 1,026,061,926 216,045,889

The total PPE for CY 2018 reached P1.242 trillion, net of accumulated depreciation
amounting to P295.95 billion and impairment losses of P1.23 billion. Infrastructure
Assets got the biggest share of P448.80 billion or 36.13 percent of the total PPE,
followed by Buildings and Other Structures amounting to P301.83 billion or 24.30
percent.

62
Amount
(in thousand pesos) Percent
Account Accumulated to
Gross Accumulated Net
Impairment Total
Amount Depreciation Value
Loss
Land 133,337,426 - (6,136) 133,331,290 10.73
Land Improvements 39,593,797 (15,052,838) (4,897) 24,536,061 1.98
Infrastructure Assets 493,995,169 (44,631,193) (560,315) 448,803,661 36.13
Buildings and Other
Structures 399,968,502 (98,109,596) (31,507) 301,827,399 24.30
Machinery and
Equipment 209,316,052 (93,130,653) (609,571) 115,575,828 9.30
Transportation
Equipment 53,999,923 (26,617,462) (15,475) 27,366,986 2.20
Furniture, Fixtures
and Books 20,453,318 (9,671,080) (3,340) 10,778,897 0.87
Leased Assets 2,069,808 (424,068) - 1,645,740 0.13
Leased Assets
Improvements 46,414 (10,990) - 35,424 0.003
Construction in
Progress 168,224,753 - - 168,224,753 13.54
Service Concession
Assets 166,082 (20,032) - 146,050 0.01
Other Property, Plant
and Equipment 18,120,169 (8,283,072) (1,371) 9,835,726 0.79
Total 1,539,291,412 (295,950,986) (1,232,611) 1,242,107,815 100.00

12.1. Buildings and Other Structures

Breakdown is as follows:

Amount
(in thousand pesos) Percent
Account Accumulated to
Gross Accumulated Net Total
Impairment
Amount Depreciation Value
Losses
Buildings 119,228,808 (28,561,146) (5,378) 90,662,283 30.04
School
Buildings 106,664,523 (26,583,847) (4,909) 80,075,767 26.53
Hospitals and
Health Centers 37,585,671 (8,723,944) (831) 28,860,896 9.56
Markets 40,065,986 (11,114,027) (13,206) 28,938,753 9.59
Slaughterhouses 3,111,284 (772,812) (1,384) 2,337,088 0.77
Hostels and
Dormitories 661,201 (250,120) - 411,081 0.14
Other Structures 92,651,031 (22,103,701) (5,799) 70,541,532 23.37
Total 399,968,502 (98,109,596) (31,507) 301,827,399 100.00

12.2. Infrastructure Assets

This group of assets includes road networks, sewer systems, water and power
supply systems, communication networks, seaport and airport systems, and
parks, plazas and monuments constructed by LGUs for public use.

63
The regional breakdown of the reported assets by Provinces, Cities, and
Municipalities is shown below:

Region Total Provinces Cities Municipalities


NCR 186,685,571 - 186,658,788 26,783
CAR 9,120,912 3,791,465 678,641 4,650,806
Region I 27,131,421 8,274,102 2,553,643 16,303,675
Region II 12,167,269 4,777,540 2,579,083 4,810,646
Region III 25,881,317 12,387,936 5,414,381 8,079,000
Region IV-A 25,940,277 10,281,650 7,382,185 8,276,443
Region IV-B 9,939,766 4,816,723 1,224,071 3,898,971
Region V 20,354,993 9,691,681 2,556,904 8,106,409
Region VI 9,730,678 5,211,023 1,035,123 3,484,532
Region VII 11,388,029 3,707,813 3,311,155 4,369,061
Region VIII 17,147,399 6,064,872 3,294,968 7,787,559
Region IX 7,645,988 2,813,378 741,146 4,091,464
Region X 17,775,527 10,480,547 2,648,326 4,646,654
Region XI 29,923,711 22,668,702 4,871,936 2,383,073
Region XII 10,277,878 5,101,511 2,217,582 2,958,785
Region XIII 11,563,508 7,403,564 1,175,531 2,984,412
Sub-Region
XVI 9,832,763 1,578,507 6,516,545 1,737,710
ARMM 6,296,654 2,464,678 505,511 3,326,465
Total 448,803,661 121,515,693 235,365,519 91,922,448

13. BIOLOGICAL ASSETS

Biological Assets are composed of the following:

Amount
(in thousand pesos)
Account
Increase/
2018 2017
(Decrease)
Bearer Biological Assets
Breeding Stocks 819,704 619,791 199,913
Plants and Trees 262,682 241,226 21,456
Aquaculture 8,335 6,540 1,795
Other Bearer Biological Assets 28,941 22,575 6,366
Total 1,119,662 890,132 229,530

64
14. INTANGIBLE ASSETS

The details of Intangible Assets are as follows:

Amount
(in thousand pesos)
Account
Increase/
2018 2017
(Decrease)
Patents/Copyrights 1,357 1,357 -
Computer Software 2,066,001 1,523,894 542,106
Less: Accum. Amortization-Computer Software 999,746 699,708 300,038
Computer Software, Net 1,066,254 824,186 242,068
Other Intangible Assets 21,365 23,782 (2,417)
Less: Accum. Amortization-Other Intangible
Assets 3,138 1,426 1,712
Other Intangible Assets, Net 18,227 22,355 (4,128)
Service Concession Assets-Intangible Assets 3,708 3,708 -
Total 1,089,546 851,606 237,940

15. FINANCIAL LIABILITIES (Current)

Total Current Financial Liabilities is composed of the following major accounts:

Amount
(in thousand pesos)
Account
Increase/
2018 2017
(Decrease)
Payables 78,488,655 62,916,740 15,571,915
Bills/Bonds/Loans Payable 25,883,182 22,785,218 3,097,964
Total 104,371,837 85,701,958 18,669,879

15.1. Payables

Of the total current payables of P78.49 billion, Accounts Payable amounting


to P71.69 billion represents 91.34 percent. Details of the total current payables
are as follows:

Amount
(in thousand pesos)
Account
Increase/
2018 2017
(Decrease)
Accounts Payable 71,692,195 56,709,714 14,982,481
Due to Officers and Employees 6,169,381 5,528,797 640,584
Notes Payable 22,689 119,144 (96,455)
Interest Payable 171,663 227,705 (56,042)
Finance Lease Payable 2,958 4,030 (1,072)
Awards and Rewards Payable 8,273 3,469 4,804
Service Concession Arrangements
Payable 1,267 - 1,267
Pension Benefits Payable 16,138 17,516 (1,378)
Leave Benefits Payable 397,857 293,958 103,899
Retirement Gratuity Payable 6,234 12,407 (6,173)
Total 78,488,655 62,916,740 15,571,915

65
The regional breakdown of Accounts Payable for CY 2018 is as follows:

Accounts Payable
Region Amount Percent
(in thousand pesos) to Total
NCR 16,588,331 23.14
CAR 1,016,797 1.42
Region I 4,300,339 6.00
Region II 1,571,259 2.19
Region III 7,831,567 10.92
Region IV-A 11,601,684 16.18
Region IV- B 2,512,089 3.50
Region V 3,276,573 4.57
Region VI 2,134,034 2.98
Region VII 4,373,100 6.10
Region VIII 2,502,122 3.49
Region IX 1,468,193 2.05
Region X 3,494,014 4.87
Region XI 3,172,404 4.43
Region XII 1,741,135 2.43
Region XIII 1,274,777 1.78
Sub-Region XVI 2,604,841 3.63
ARMM 228,939 0.32
Total 71,692,195 100.00

Of the total accounts payables of P71.69 billion, NCR got the biggest amounts
of P16.59 billion represents 23.14 percent. The cities of Manila, Makati and
Taguig are the topped three cities with the highest amounts of P4.74 billion,
P3.34 billion and P2.66 billion, respectively.

15.2. Bills/Bonds/Loans Payable

The current portion of the major account Bills/Bonds/Loans Payable for CY


2018 is composed of the following:
Amount
(in thousand pesos)
Account
Increase/
2018 2017
(Decrease)
Bonds Payable-Domestic 446,695 242,975 203,720
Discount on Bonds Payable-Domestic (16) (6) (10)
Premium on Bonds Payable-Domestic 865 94,215 (93,350)
Loans Payable-Domestic 23,375,695 22,430,855 944,840
Loans Payable-Foreign 2,059,943 17,179 2,042,764
Total 25,883,182 22,785,218 3,097,964

The regional breakdown of the Loans Payable-Domestic totaling P23.38


billion is as follows.

66
Loans Payable-Domestic
Region Amount Percent
(in thousand pesos) to Total
NCR 1,239,635 5.30
CAR 126,122 0.54
Region I 1,443,436 6.17
Region II 579,995 2.48
Region III 2,645,840 11.32
Region IV-A 1,562,952 6.69
Region IV- B 823,593 3.52
Region V 1,888,474 8.08
Region VI 1,323,976 5.66
Region VII 391,441 1.67
Region VIII 2,054,438 8.79
Region IX 1,944,196 8.32
Region X 1,276,956 5.46
Region XI 1,093,158 4.68
Region XII 1,076,413 4.60
Region XIII 1,469,296 6.29
Sub-Region XVI 1,364,416 5.84
ARMM 1,071,358 4.58
Total 23,375,695 100.00

Regions III, VIII, and IX registered the highest amounts at P2.65 billion or
11.32 percent, P2.05 billion or 8.79 percent, and P1.94 billion or 8.32 percent,
respectively.

16. INTER-AGENCY PAYABLES

This major group of accounts pertains to payables that subsist between NGAs, LGUs
and GCs, as shown below.

Amount
(in thousand pesos)
Account
Increase/
2018 2017
(Decrease)
Due to BIR 4,694,773 4,275,419 419,354
Due to GSIS 2,923,821 2,425,165 498,656
Due to Pag-IBIG 581,537 665,155 (83,618)
Due to PhilHealth 902,549 813,008 89,541
Due to NGAs 100,522,144 97,091,828 3,430,316
Due to GOCCs 3,186,494 2,726,133 460,360
Due to LGUs 18,184,242 16,102,486 2,081,757
Due to Joint Venture 31,925 75,216 (43,291)
Total 131,027,485 124,174,409 6,853,076

67
The total Inter-Agency Payables of P131.03 billion by regions is shown below.

Amount Percent
Region
(in thousand pesos) to Total
NCR 6,847,323 5.23
CAR 3,945,814 3.01
Region I 5,005,714 3.82
Region II 5,166,972 3.94
Region III 7,478,169 5.71
Region IV-A 9,347,063 7.13
Region IV-B 7,001,630 5.34
Region V 7,755,285 5.92
Region VI 7,878,949 6.01
Region VII 9,762,312 7.45
Region VIII 11,966,532 9.13
Region IX 7,719,757 5.89
Region X 9,784,549 7.47
Region XI 7,162,276 5.47
Region XII 4,860,612 3.71
Region XIII 7,871,993 6.01
Sub-Region XVI 6,296,342 4.81
ARMM 5,176,193 3.95
Total 131,027,485 100.00

Of the Inter-Agency Payables totaling P131.03 billion, Due to NGAs got the biggest
amount of P100.52 billion or 76.72 percent. Regional breakdown is shown below:

Due to NGAs
Region Amount Percent
(in thousand pesos) to Total
NCR 1,557,415 1.55
CAR 3,401,750 3.38
Region I 4,039,177 4.02
Region II 4,105,208 4.08
Region III 4,864,113 4.84
Region IV-A 5,597,471 5.57
Region IV-B 6,059,916 6.03
Region V 6,584,318 6.55
Region VI 6,157,524 6.13
Region VII 7,347,476 7.31
Region VIII 10,101,403 10.05
Region IX 6,711,760 6.68
Region X 7,711,714 7.67
Region XI 6,269,203 6.24
Region XII 4,028,074 4.01
Region XIII 6,608,420 6.57
Sub-Region XVI 4,686,691 4.66
ARMM 4,690,511 4.67
Total 100,522,144 100.00

68
17. INTRA-AGENCY PAYABLES

Intra-Agency Payables are reciprocal accounts that subsist within the LGU. The total
amount of P35.60 billion is composed of the following:

Amount
(in thousand pesos)
Account
Increase/
2018 2017
(Decrease)
Due to Other Funds 25,670,701 23,422,831 2,247,870
Due to Special Accounts 8,648,345 7,324,274 1,324,071
Due to Local Economic Enterprises 1,282,979 1,348,885 (65,906)
Total 35,602,025 32,095,990 3,506,035

18. TRUST LIABILITIES

This major group of accounts consists of amounts held in trust for specific purposes,
such as Disaster-Risk Reduction and Management Fund, and Guaranty/Security
Deposits. Details are as follows:

Amount
(in thousand pesos)
Account
Increase/
2018 2017
(Decrease)
Trust Liabilities 11,034,271 9,056,116 1,978,155
Trust Liabilities-Disaster Risk Reduction and
Management Fund 36,290,913 31,077,724 5,213,189
Bail Bonds Payable 933,492 972,954 (39,462)
Guaranty/Security Deposits Payable 10,055,710 7,369,147 2,686,562
Customers' Deposits Payable 180,284 70,081 110,204
Total 58,494,669 48,546,022 9,948,648

As shown above, Trust Liabilities-Disaster Risk Reduction and Management Fund,


and Trust Liabilities represent the top two components of the total Trust Liabilities at
P36.29 billion or 62.04 percent, and P11.03 billion or 18.86 percent, respectively. The
balances per region are shown below:

69
Trust Liabilities-Disaster Risk
Trust Liabilities
Reduction and Management Fund
Region
Amount Percent Amount Percent
(in thousand pesos) to Total (in thousand pesos) to Total
NCR 2,054,595 18.62 8,676,955 23.91
CAR 597,574 5.42 591,307 1.63
Region I 274,435 2.49 1,406,532 3.88
Region II 264,680 2.40 1,120,844 3.09
Region III 459,980 4.17 2,780,638 7.66
Region IV-A 1,962,118 17.78 4,200,455 11.57
Region IV-B 158,866 1.44 1,372,362 3.78
Region V 690,372 6.26 2,736,050 7.54
Region VI 805,554 7.30 1,289,284 3.55
Region VII 1,051,185 9.53 2,537,838 6.99
Region VIII 490,664 4.45 1,444,033 3.98
Region IX 416,915 3.78 1,423,375 3.92
Region X 586,095 5.31 1,184,499 3.26
Region XI 229,201 2.08 1,206,156 3.32
Region XII 136,474 1.24 911,991 2.51
Region XIII 448,390 4.06 752,469 2.07
Sub-Region XVI 379,215 3.44 2,007,940 5.53
ARMM 27,958 0.25 648,185 1.79
Total 11,034,271 100.00 36,290,913 100.00

19. DEFERRED CREDITS/UNEARNED INCOME (Current)

This group of accounts is composed of the following:

Amount (in thousand pesos)


Account Increase/
2018 2017
(Decrease)
Deferred Real Property Tax 41,055,986 30,578,547 10,477,439
Deferred Special Education Tax 25,976,336 26,639,300 (862,964)
Deferred Finance Lease Revenue 89,930 61,460 28,470
Deferred Service Concession Revenue - 24,162 (24,162)
Unearned Revenue-Investment Property 444,912 67,211 377,702
Other Deferred Credits 25,962,665 11,887,162 14,075,503
Total 93,329,829 69,257,841 24,071,988

20. PROVISIONS (Current)

This group of accounts comprised the following:

Amount
(in thousand pesos)
Account
Increase/
2018 2017
(Decrease)
Termination Benefits 2,771 7,712 (4,942)
Other Provisions 359,997 475,002 (115,005)
Total 362,767 482,714 (119,947)

70
The balances per region are shown below:

Termination Benefits Other Provisions


Amount Amount
Region Percent Percent
(in thousand (in thousand
to Total to Total
pesos) pesos)
NCR - - 163,332 45.37
Region I - - 5,084 1.41
Region II - - 438 0.12
Region IV-B - - 189,614 52.67
Region V 39 1.39 - -
Region VII 1,593 57.48 139 0.04
Region IX - - 24 0.01
Region X 113 4.06 37 0.01
Region XI - - 528 0.15
Region XIII 1,027 37.06 802 0.22
Total 2,771 100.00 359,997 100.00

Of the total Current Provisions of P362.77 million, Other Provisions got the biggest
share at P360.00 million or 99.24 percent. Region IV-B and NCR got the biggest
amounts at P189.61 million and P163.33 million, respectively. Of the total
Termination Benefits of P2.77 million, Regions VII and XIII got the highest shares at
P1.59 million and P1.03 million, respectively.

21. OTHER PAYABLES (Current)

Other Payables totaling P15.79 billion shared 3.60 percent of the total Current
Liabilities of P438.98 billion as shown in the SFPos. The regional breakdown is shown
below.

Amount Percent
Region
(in thousand pesos) to Total
NCR 3,702,668 23.44
CAR 117,388 0.74
Region I 1,175,924 7.45
Region II 977,804 6.19
Region III 1,534,922 9.72
Region IV-A 2,312,884 14.64
Region IV-B 806,694 5.11
Region V 215,882 1.37
Region VI 703,305 4.45
Region VII 504,224 3.19
Region VIII 897,168 5.68
Region IX 466,643 2.95
Region X 420,107 2.66
Region XI 299,550 1.90
Region XII 231,412 1.47
Region XIII 564,094 3.57
Sub-Region XVI 835,954 5.29
ARMM 26,445 0.17
Total 15,793,068 100.00

71
22. FINANCIAL LIABILITIES (Non-Current)

The total Non-Current Financial Liabilities is composed of the following major


accounts:

Amount
(in thousand pesos)
Account
Increase/
2018 2017
(Decrease)
Payables 6,358,912 5,725,687 633,225
Bills/Bonds/Loans Payable 68,232,119 63,149,262 5,082,857
Total 74,591,031 68,874,950 5,716,081

22.1. Payables

Accounts Payable amounting to P6.07 billion or 95.41 percent is the bulk of


the total Non-Current Payables of P6.36 billion. Details are as follows:

Amount
(in thousand pesos)
Account
Increase/
2018 2017
(Decrease)
Accounts Payable 6,066,877 5,575,660 491,217
Due to Officers and Employees 107,553 76,965 30,588
Notes Payable 121,025 27,043 93,982
Interest Payable 37,142 17,542 19,601
Finance Lease Payable 26,314 28,405 (2,091)
Retirement Gratuity Payable - 72 (72)
Total 6,358,912 5,725,687 633,225

22.2. Bills/Bonds/Loans Payable

The non-current portion of the major account Bills/Bonds/Loans Payable


totaled P68.23 billion, of which Loans Payable-Domestic account reported a
significant amount of P66.03 billion or 96.77 percent. It is composed of the
following accounts:

Amount
(in thousand pesos)
Account
Increase/
2018 2017
(Decrease)
Bonds Payable-Domestic 2,163,335 821,496 1,341,839
Premium on Bonds Payable-Domestic - 241,422 (241,422)
Loans Payable-Domestic 66,025,740 59,962,107 6,063,633
Loans Payable-Foreign 43,044 2,124,237 (2,081,193)
Total 68,232,119 63,149,262 5,082,857

72
Loans Payable-Domestic

The regional breakdown of Loans Payable-Domestic is shown below:

Amount Percent
Region
(in thousand pesos) to Total
NCR 8,295,975 12.56
CAR 923,377 1.40
Region I 2,716,817 4.11
Region II 4,239,740 6.41
Region III 7,688,870 11.65
Region IV-A 8,285,845 12.55
Region IV-B 3,484,134 5.28
Region V 4,332,282 6.56
Region VI 2,740,622 4.15
Region VII 2,029,852 3.07
Region VIII 2,062,624 3.12
Region IX 2,132,342 3.23
Region X 3,220,578 4.88
Region XI 4,510,167 6.83
Region XII 2,561,150 3.88
Region XIII 1,710,798 2.59
Sub-Region XVI 3,388,388 5.13
ARMM 1,702,179 2.58
Total 66,025,740 100.00

23. DEFERRED CREDITS/UNEARNED INCOME (Non-Current)

This group of accounts is composed of the following:

Amount
(in thousand pesos)
Account
Increase/
2018 2017
(Decrease)
Deferred Real Property Tax 22,332,579 23,702,376 (1,369,797)
Deferred Special Education Tax 16,303,007 9,937,486 6,365,521
Deferred Finance Lease Revenue 351,756 464,722 (112,966)
Deferred Service Concession Revenue 143,942 155,277 (11,335)
Unearned Revenue-Investment Property 43,027 412,106 (369,078)
Other Deferred Credits 8,519,921 23,213,828 (14,693,907)
Total 47,694,231 57,885,795 (10,191,564)

24. PROVISIONS (Non-Current)

The composition of Provisions is shown below:

Amount
(in thousand pesos)
Account
Increase/
2018 2017
(Decrease)
Termination Benefits 13,684 5,718 7,965
Other Provisions 6,958 25,092 (18,133)
Total 20,642 30,810 (10,168)

73
25. OTHER PAYABLES (Non-Current)

Other Payables of P12.14 billion shared 9.03 percent of the Non-Current Liabilities
totaling P134.45 billion and the details are shown below.

Amount Percent
Region
(in thousand pesos) to Total
NCR 3,044,309 25.07
CAR 697,044 5.74
Region I 360,527 2.97
Region II 440,470 3.63
Region III 1,192,501 9.82
Region IV-A 601,838 4.96
Region IV-B 293,302 2.42
Region V 405,465 3.34
Region VI 345,259 2.84
Region VII 316,953 2.61
Region VIII 590,649 4.86
Region IX 195,869 1.61
Region X 1,233,643 10.16
Region XI 659,709 5.43
Region XII 604,782 4.98
Region XIII 119,158 0.98
Sub-Region XVI 984,912 8.11
ARMM 57,338 0.47
Total 12,143,727 100.00

26. NET ASSETS/EQUITY

The Net Assets/Equity of the LGUs for CY 2018 of P1.519 trillion increased by
P256.93 billion or 20.36 percent from CY 2017 of P1.262 trillion.

The regional breakdown of Net Asset/Equity by Unit is as follows:

Percent
Region Total Province Cities Municipalities
to Total
NCR 417,398,029 - 417,133,516 264,514 27.48
CAR 33,106,184 12,695,019 7,323,695 13,087,470 2.18
Region I 91,031,043 26,762,894 13,700,774 50,567,375 5.99
Region II 47,498,669 18,349,853 8,646,761 20,502,055 3.13
Region III 107,236,713 44,131,014 27,686,010 35,419,689 7.06
Region IV-A 174,191,800 53,927,782 74,902,312 45,361,707 11.47
Region IV-B 43,254,561 16,135,020 7,787,291 19,332,249 2.85
Region V 61,906,457 23,210,214 12,603,055 26,093,189 4.08
Region VI 51,801,079 21,653,091 8,149,446 21,998,542 3.41
Region VII 95,016,573 38,684,582 34,307,862 22,024,128 6.26
Region VIII 61,559,599 19,973,423 15,771,815 25,814,360 4.05
Region IX 43,035,697 13,059,394 15,466,712 14,509,591 2.83
Region X 64,919,735 25,011,002 22,813,327 17,095,405 4.27
Region XI 61,443,449 29,444,734 20,697,488 11,301,227 4.05
Region XII 41,002,662 16,163,328 10,990,076 13,849,258 2.70
Region XIII 46,830,112 18,067,137 13,691,485 15,071,490 3.08
Sub-Region XVI 59,398,300 15,874,569 33,230,537 10,293,194 3.91
ARMM 18,267,002 6,452,986 2,788,294 9,025,722 1.20
Total 1,518,897,663 399,596,042 747,690,457 371,611,165 100.00

74
27. TAX REVENUE

Tax Revenue amounting to P165.63 billion represents 24.34 percent of the total
current operating revenue of P680.56 billion. The details are presented below:

Amount
(in thousand pesos)
Account
Increase/
2018 2017
(Decrease)

Tax Revenue-Individual and Corporation 2,358,500 2,225,593 132,906


Professional Tax 126,117 91,781 34,336
Community Tax 2,232,383 2,133,812 98,571
Tax Revenue-Property 69,204,830 62,284,639 8,522,845
Real Property Tax-Basic 34,467,871 31,033,527 3,434,344
Less: Discount on Real Property Tax-Basic 3,606,234 3,145,606 460,628
Special Education Tax 34,624,561 31,877,164 2,747,396
Less: Discount on Special Education Tax 3,189,601 2,848,902 340,699
Special Levy on Idle Lands 361,982 341,191 20,791
Special Levy on Lands Benefited by Public
Works Projects 53,917 10,452 43,464
Real Property Transfer Tax 6,492,335 5,016,813 1,475,522
Tax Revenue-Goods and Services 88,342,600 76,069,198 12,273,402
Business Tax 83,138,502 71,510,825 11,627,677
Tax on Sand, Gravel and Other Quarry
Products 1,453,148 1,192,675 260,473
Tax on Delivery Trucks and Vans 339,757 288,482 51,275
Amusement Tax 1,083,584 959,978 123,606
Franchise Tax 2,222,073 2,045,710 176,363
Printing and Publication Tax 105,536 71,529 34,007
Tax Revenue-Others 1,420,174 1,216,419 203,755
Other Taxes 1,420,174 1,216,419 203,755
Tax Revenue-Fines and Penalties 4,301,583 3,750,553 551,030
Tax Revenue-Fines and Penalties-Taxes on
Individual and Corporation 416,155 523,843 (107,688)
Tax Revenue-Fines and Penalties-Property Taxes 2,651,206 2,238,555 412,651
Tax Revenue-Fines and Penalties-Taxes on Goods
and Services 756,056 562,997 193,059
Tax Revenue-Fines and Penalties-Other Taxes 478,166 425,158 53,008
Total 165,627,686 145,546,402 21,683,938

27.1 Tax Revenue-Individual and Corporation

This account contributed P2.36 billion or 1.42 percent of the total tax revenue
of P165.63 billion. Of the P2.36 billion, P2.23 billion or 94.65 percent was
sourced from community tax and the remaining balance of P126.12 million or
5.35 percent represents revenue from professional tax.

75
27.2 Tax Revenue-Property

This account amounting to P69.20 billion or 41.78 percent represents the


second highest component of tax revenue. Special Education Tax (SET) of
P31.43 billion or 45.42 percent and Real Property Tax (RPT)-Basic of P30.86
billion or 44.59 percent were two of the highest components of Tax Revenue-
Property. NCR contributed the highest RPT and SET amounting to P16.53
billion and P13.42 billion, respectively. Next is Region IV-A with a
contributed RPT of P5.76 billion and SET of P7.38 billion. The third highest
contributor is Region III with RPT of P3.04 billion and SET of P3.67 billion.

The regional breakdown of RPT and SET is as follows:

Amount
(in thousand pesos)
Region
Real Property Special Education
Tax-Basic Tax
NCR 16,527,463 13,418,149
CAR 242,424 216,024
Region I 827,096 1,004,432
Region II 353,102 431,477
Region III 3,044,794 3,668,314
Region IV-A 5,760,441 7,383,941
Region IV-B 555,469 536,860
Region V 444,755 545,630
Region VI 1,093,410 1,047,022
Region VII 1,462,547 1,382,140
Region VIII 299,183 354,747
Region IX 266,427 361,215
Region X 885,585 1,002,162
Region XI 1,105,048 1,239,579
Region XII 401,788 575,827
Region XIII 236,409 284,666
Sub-Region XVI 919,225 1,136,721
ARMM 42,704 35,655
Total 34,467,871 34,624,561

76
27.3 Tax Revenue-Goods and Services

Tax revenue on goods and services amounting to P88.34 billion or 53.34


percent marks as the highest component of tax revenue. Business Tax of
P83.14 billion or 94.11 percent is the bulk of the total Tax Revenue-Goods and
Services. Compared with previous year’s balance of P71.51 billion, revenue
from business tax increased by P11.63 billion, which represents the highest
increase among the components of this account. The highest revenue on
business tax was reported by NCR, Region IV-A and Region III amounting to
P45.74 billion or 55.01 percent, P12.00 billion or 14.44 percent and P5.27
billion or 6.34 percent, respectively. The details of Business Tax by Region is
shown below:

Amount
(in thousand pesos)
Region
Percent
Business Tax
Distribution
NCR 45,736,000 55.01
CAR 552,177 0.66
Region I 1,778,350 2.14
Region II 1,313,504 1.58
Region III 5,271,961 6.34
Region IV-A 12,001,695 14.44
Region IV-B 656,299 0.79
Region V 1,158,202 1.39
Region VI 1,420,930 1.71
Region VII 4,068,621 4.89
Region VIII 698,883 0.84
Region IX 688,305 0.83
Region X 1,893,238 2.28
Region XI 2,735,515 3.29
Region XII 961,521 1.16
Region XIII 959,006 1.15
Sub-Region XVI 1,186,710 1.43
ARMM 57,583 0.07
Total 83,138,502 100.00

27.4 Tax Revenue-Fines and Penalties

The total Tax Revenue-Fines and Penalties of P4.30 billion represents 2.60
percent of the total tax revenue. Fines and penalties on late payment of property
taxes amounting to P2.65 billion or 61.63 percent was the highest source of tax
revenue on fines and penalties.

28. SHARE FROM INTERNAL REVENUE COLLECTIONS

Out of the total current operating revenue of P680.56 billion, majority was sourced
from Share from Internal Revenue Collections amounting to P414.98 billion or 60.98
percent. CY 2018 share from internal revenue collections increased by P28.25 billion
or 7.31 percent from CY 2017 amount of P386.73 billion. Presented below is the
regional breakdown ranked from highest to lowest.

77
Amount
Region
(in thousand pesos)
Region IV-A 46,799,412
Region III 40,023,514
Region V 25,083,718
Region VIII 24,989,230
Region X 23,264,427
NCR 22,857,258
Region II 22,130,760
Sub-Region XVI 22,122,543
Region I 22,001,627
Region XI 21,307,862
Region VII 20,553,813
ARMM 20,045,724
Region XII 19,218,903
Region IV-B 19,120,655
Region VI 18,293,427
Region XIII 17,507,429
Region IX 16,673,000
CAR 12,989,526
Total 414,982,826

29. OTHER SHARE FROM NATIONAL TAXES

This group of accounts totaling P31.04 billion comprises of Share from Expanded
Value Added Tax – P786.73 million or 2.53 percent, Share from National Wealth –
P2.10 billion or 6.77 percent, Share from Tobacco Excise Tax (RA 7171 and 8240) –
P22.21 billion or 71.56 percent, and Share from Economic Zones – P5.94 billion or
19.14 percent. Comparative details are as follows:

Amount
(in thousand pesos)
Account
Increase/
2018 2017
(Decrease)
Share from Expanded Value Added Tax 786,733 361,998 424,734
Share from National Wealth 2,100,639 1,340,609 760,029
Share from Tobacco Excise Tax (RA 7171 and
8240) 22,213,747 2,033,331 20,180,415
Share from Economic Zones 5,942,146 5,126,651 815,495
Total 31,043,264 8,862,590 22,180,674

30. SERVICE AND BUSINESS INCOME

The total Service and Business Income of P59.99 billion represents 8.81 percent of the
total current operating revenue of P680.56 billion. Comparative details are as follows:

Amount
(in thousand pesos)
Account
Increase/
2018 2017
(Decrease)
Service Income 19,327,344 16,372,491 2,954,854
Permit Fees 8,489,219 7,536,672 952,547
Registration Fees 759,379 688,675 70,704

78
Amount
(in thousand pesos)
Account
Increase/
2018 2017
(Decrease)
Registration Plates, Tags and Stickers Fees 161,848 144,574 17,274
Clearance and Certification Fees 2,938,149 2,409,744 528,405
Supervision and Regulation Enforcement Fees 774,892 549,163 225,729
Inspection Fees 1,700,563 1,432,805 267,757
Verification and Authentication Fees 55,884 49,890 5,994
Processing Fees 245,993 155,272 90,720
Occupation Fees 414,769 362,601 52,168
Fishery Rentals, Fees and Charges 79,550 68,385 11,165
Fees for Sealing and Licensing of Weights and
Measures 101,614 74,171 27,443
Fines and Penalties-Service Income 548,115 430,947 117,169
Other Service Income 3,057,369 2,469,590 587,779
Business Income 40,661,783 38,709,756 1,952,027
School Fees 1,859,318 1,749,249 110,068
Affiliation Fees 4,936 4,700 236
Seminar/Training Fees 29,995 27,287 2,708
Rent Income 2,929,568 2,710,022 219,545
Communication Network Fees 26,828 18,257 8,571
Transportation System Fees 565,762 419,888 145,874
Road Network Fees 467,067 631,375 (164,308)
Waterworks System Fees 2,008,232 1,838,614 169,618
Power Supply System Fees 40,990 37,068 3,922
Seaport System Fees 158,268 155,540 2,727
Parking Fees 585,477 560,781 24,696
Receipts from Operation of
Hostels/Dormitories and Other Like
Facilities 201,566 181,375 20,191
Receipts from Market Operations 5,812,641 5,498,941 313,700
Receipts from Slaughterhouse Operation 1,226,170 1,105,440 120,730
Receipts from Cemetery Operations 481,751 411,835 69,916
Receipts from Printing and Publication 7,676 4,906 2,771
Sales Revenue 980,476 1,046,194 (65,718)
Less:
Sales Discounts 1,498 1,145 353
Cost of Goods Manufactured 3,474 2,961 513
Direct Materials 3,205 2,817 387
Direct Labor 214 144 71
Manufacturing Overhead 54 - 54
Cost of Sales 798,764 566,156 232,608
Cost of Sales 798,764 566,156 232,608
Total 803,736 570,262 233,474
Net Sales Revenue 176,740 475,931 (299,192)
Garbage Fees 2,473,013 2,147,020 325,993
Hospital Fees 15,225,192 14,506,842 718,350
Dividend Income 53,969 61,025 (7,055)
Interest Income 2,789,272 2,499,696 289,576
Service Concession Revenue 33,797 19,923 13,874
Other Service Concession Revenue 27,130 5,863 21,267
Lease Revenue 129,570 126,430 3,140
Share in the Profit of Joint Venture 32,715 767,673 (734,958)
Fines and Penalties-Business Income 242,762 170,472 72,290
Other Business Income 3,071,378 2,573,604 497,774
Total 59,989,128 55,082,247 4,906,881

79
30.1 Service Income

Service Income of P19.33 billion constitutes 32.22 percent of the total Service
and Business Income of P59.99 billion. Permit Fees amounting to P8.49 billion
or 43.92 percent represents the bulk of the total Service Income. As shown in
Annex 5, NCR, Region IV-B and Region III contributed the highest permit
fees amounting to P3.09 billion, P1.39 billion and P919.53 million,
respectively.

30.2 Business Income

Of the total Service and Business Income, 67.78 percent was sourced from
Business Income amounting to P40.66 billion. The highest sources of Business
Income are hospital fees of P15.23 billion or 37.44 percent, followed by
Receipt from Market Operations of P5.81 billion or 14.30 percent. The top
three contributors with a reported business income of P6.72 billion, P4.22
billion and P3.62 billion are NCR, Region IV-B and Region III, respectively,
as presented in Annex 6.

31. SHARES, GRANTS AND DONATIONS

The comparative detail of shares, grants and donations are as follows:


25: SERVICE AND BUSINESS INCOME
Amount
(in thousand pesos)
Account
Increase/
2018 2017
(Decrease)
Share 943,535 735,091 208,444
Share from PAGCOR 206,600 180,476 26,125
Share from PCSO 736,935 554,615 182,320
Grants and Donations 7,956,165 6,001,552 1,954,613
Grants and Donations in Cash 2,414,233 2,451,197 (36,965)
Grants and Donations in Kind 5,523,993 3,547,632 1,976,361
Grants from Concessionary Loans 17,939 2,723 15,216
Total 8,899,700 6,736,643 2,163,057

31.1 Share

Share from PAGCOR and Share from PCSO represent 21.90 percent and 78.10
percent, respectively, of the total Share. As shown in Annex 7, Region III got
the highest share from PAGCOR and PCSO amounting to P73.41 million and
P149.43 million, respectively. On the other hand, Region IV-B received the
lowest share from PAGCOR amounting to P808.57 thousand while ARMM
received the lowest share from PCSO amounting to P1.19 million.

31.2 Grants and Donations

Grants and Donations of P7.96 billion or 89.40 percent is the bulk of the total
Shares, Grants and Donations. Region VII reported the highest amount of
grants and donations in cash amounting to P654.86 million while NCR
reported the highest amount of grants and donations in kind amounting to
P2.04 billion, as shown in Annex 8.

80
32. GAINS

Gains amounting to P13.42 million consist of the following:

Amount
(in thousand pesos)
Account
Increase/
2018 2017
(Decrease)
Gain on Initial Recognition of Biological Assets 3,535 15,813 (12,278)
Gain on Sale of Biological Assets 6,234 7,901 (1,667)
Gain from Changes in Fair Value Less Cost to Sell
of Biological Assets Due to Physical Change 2,101 2,934 (833)
Gain from Changes in Fair Value Less Cost to Sell
of Biological Assets Due to Price Change 108 43 66
Gain from Initial Recognition of Agricultural
Produce 1,440 1,856 (416)
Total 13,418 28,547 (15,129)

The highest source of gain is from Gain on Sale of Biological Assets which constitutes
P6.23 million or 46.46 percent of the total gains, followed by Gain on Initial
Recognition of Biological Assets of P3.54 million or 26.35 percent. The regional
breakdown of total gains presented in Annex 9 shows that Sub-Region XVI reported
the highest gains of P4.87 million or 36.30 percent of the total gains of P13.42 million.

33. PERSONNEL SERVICES

Personnel Services totaling P189.75 billion represents 38.21 percent of the total
current operating expenses of P496.57 billion. Below are the comparative details of
personnel services.

Amount
(in thousand pesos)
Account
Increase/
2018 2017
(Decrease)
Salaries and Wages 112,685,523 102,735,443 9,950,080
Salaries and Wages-Regular 95,330,519 86,144,499 9,186,020
Salaries and Wages-Casual/Contractual 17,355,003 16,590,944 764,060
Other Compensation 48,831,876 44,764,590 4,067,286
Personal Economic Relief Allowance (PERA) 9,677,600 9,444,877 232,724
Representation Allowance (RA) 3,371,386 3,280,128 91,259
Transportation Allowance (TA) 3,026,950 2,938,956 87,994
Clothing/Uniform Allowance 2,233,899 1,861,558 372,341
Subsistence Allowance 1,141,137 1,145,618 (4,481)
Laundry Allowance 128,726 129,007 (281)
Quarters Allowance 8,075 8,742 (667)
Productivity Incentive Allowance 963,869 765,108 198,761
Overseas Allowance 3,160 11,196 (8,036)
Honoraria 1,490,968 1,486,415 4,552
Hazard Pay 3,371,833 2,868,673 503,159
Longevity Pay 166,964 248,813 (81,849)
Overtime and Night Pay 1,681,534 1,375,511 306,023
Year End Bonus 12,889,396 11,907,853 981,543
Cash Gift 2,136,653 2,113,979 22,674
Other Bonuses and Allowances 6,539,726 5,178,158 1,361,569

81
Amount
(in thousand pesos)
Account
Increase/
2018 2017
(Decrease)

Personnel Benefits Contributions 15,188,990 13,650,664 1,538,326


Retirement and Life Insurance Premiums 12,471,825 11,282,641 1,189,184
Pag-IBIG Contributions 903,147 844,826 58,321
PhilHealth Contributions 1,324,378 1,045,237 279,141
Employees Compensation Insurance Premiums 478,550 463,777 14,773
Provident/Welfare Fund Contributions 11,091 14,184 (3,092)
Other Personnel Benefits 13,039,036 11,424,981 1,614,055
Pension Benefits 122,900 145,412 (22,511)
Retirement Gratuity 109,123 56,938 52,185
Terminal Leave Benefits 4,907,728 4,342,309 565,420
Other Personnel Benefits 7,899,284 6,880,323 1,018,961
Total 189,745,425 172,575,679 17,169,746

33.1 Salaries and Wages

Among the four components of Personnel Services, majority came from


Salaries and Wages amounting to P112.69 billion or 59.39 percent. Region IV-
A, NCR and Region III were the top three regions with highest amounts of
P10.82 billion, P9.20 billion, and P8.72 billion, respectively, as shown in
Annex 10.

33.2 Other Compensation

This group of accounts aggregating P48.83 billion represents 25.74 percent of


the total Personnel Services of P189.75 billion, mostly were spent for Year
End Bonus of P12.89 billion or 26.40 percent and Personal Economic Relief
Allowance (PERA) of P9.68 billion or 19.82 percent. Among the account
components of Other Compensation, Year-End Bonus has increased
significantly by P981.54 million or 26.40 percent from the previous year’s
amount of P11.91 billion

33.3 Personnel Benefits Contributions

Retirement and Life Insurance Premiums of P12.47 billion or 82.11 percent is


the bulk of the total Personnel Benefits Contributions of P15.19 billion.

33.4 Other Personnel Benefits

The top two major components of the total Other Personnel Benefits of P13.04
billion were Other Personnel Benefits of P7.90 billion or 60.58 percent and
Terminal Leave Benefits of P4.91 billion or 37.64 percent.

82
34. MAINTENANCE AND OTHER OPERATING EXPENSES

MOOE of P257.93 billion represents 51.94 percent of the total current operating
expenses of P496.57 billion. The top four components of MOOE are Other
Maintenance and Operating Expenses – P86.03 billion or 33.35 percent, Supplies and
Materials Expenses – P52.76 billion or 20.46 percent, General Services – P42.44
billion or 16.45 percent, and Repairs and Maintenance – P22.12 billion or 8.58 percent.
Comparative details are as follows:

Amount
(in thousand pesos)
Account
Increase/
2018 2017
(Decrease)
Traveling Expenses 5,898,644 5,763,576 135,068
Training and Scholarship Expenses 8,769,186 7,773,080 996,106
Supplies and Materials Expenses 52,764,095 44,958,235 7,805,859
Utility Expenses 16,551,426 14,635,240 1,916,186
Communication Expenses 2,444,883 2,296,264 148,619
Awards/Rewards and Prizes 1,292,539 896,308 396,231
Survey, Research, Exploration and
Development Expenses 189,360 127,709 61,651
Demolition/Relocation and Desilting/Dredging
Expenses 298,147 362,781 (64,633)
Generation, Transmission and Distribution
Expenses 80,465 23,629 56,835
Confidential, Intelligence and Extraordinary
Expenses 5,410,203 4,693,108 717,095
Professional Services 11,387,203 9,180,811 2,206,392
General Services 42,438,577 35,154,814 7,283,764
Repairs and Maintenance 22,121,274 20,839,258 1,282,017
Taxes, Insurance Premiums and Other Fees 2,258,316 1,839,627 418,689
Other Maintenance and Operating Expenses 86,027,435 71,512,648 14,514,787
Total 257,931,753 220,057,088 37,874,665

34.1 Traveling Expenses

The details of Traveling Expenses are as follows:

Amount
Percent
Account (in thousand
to Total
pesos)
Traveling Expenses-Local 5,805,046 98.41
Traveling Expenses-Foreign 93,599 1.59
Total 5,898,644 100.00

83
34.2 Training and Scholarship Expenses

The breakdown of Training and Scholarship Expenses is as follows:

Amount
Percent
Account (in thousand
to Total
pesos)
Training Expenses 5,729,076 65.33
Scholarship Grants/Expenses 3,040,110 34.67
Total 8,769,186 100.00

34.3 Supplies and Materials Expenses

This group of accounts totaling P52.76 billion or 20.46 percent represents the
second major component of MOOE. It increased by P7.81 billion or 17.36
percent from the previous year’s amount of P44.96 billion. Of the total
Supplies and Materials Expenses, majority represent Other Supplies and
Materials Expenses of P11.51 billion or 21.81 percent, Fuel, Oil and
Lubricants Expenses of P9.86 billion or 18.68 percent and Drugs and
Medicines Expenses of P9.60 billion or 18.19 percent.

Among the regions, NCR reported the highest amount at P11.47 billion or
21.73 percent, followed by Region IV-A with P6.23 billion or 11.82 percent,
and Region III with P5.88 billion or 11.15 percent as presented in Annex 11.

The breakdown of Supplies and Materials Expenses is shown below:

Amount
Percent
Account (in thousand
to Total
pesos)
Office Supplies Expenses 5,165,725 9.79
Accountable Forms Expenses 597,546 1.13
Non-Accountable Forms Expenses 187,448 0.36
Animal/Zoological Supplies Expenses 363,699 0.69
Food Supplies Expenses 4,762,245 9.03
Welfare Goods Expenses 1,036,533 1.96
Drugs and Medicines Expenses 9,599,584 18.19
Medical, Dental and Laboratory Supplies
Expenses 5,952,978 11.28
Fuel, Oil and Lubricants Expenses 9,858,027 18.68
Agricultural and Marine Supplies
Expenses 2,045,796 3.88
Textbooks and Instructional Materials
Expenses 1,370,969 2.60
Military, Police and Traffic Supplies
Expenses 182,081 0.35
Chemical and Filtering Supplies Expenses 134,549 0.26
Other Supplies and Materials Expenses 11,506,916 21.81
Total 52,764,095 100.00

84
34.4 Utility Expenses

The details of Utility Expenses are as follows:

Amount
Percent
Account (in thousand
to Total
pesos)
Water Expenses 2,099,413 12.68
Electricity Expenses 14,452,013 87.32
Total 16,551,426 100.00

34.5 Communication Expenses

The breakdown of Communication Expenses is as follows:

Amount
Percent
Account (in thousand
to Total
pesos)
Postage and Courier Services 48,319 1.98
Telephone Expenses 1,780,800 72.84
Internet Subscription Expenses 556,998 22.78
Cable, Satellite, Telegraph and Radio
Expenses 58,767 2.40
Total 2,444,883 100.00

34.6 Awards/Rewards and Prizes

The details of Awards/Rewards and Prizes are as follows:

Amount
Percent
Account (in thousand
to Total
pesos)
Awards/Rewards Expenses 411,140 31.81
Prizes 881,400 68.19
Total 1,292,539 100.00

34.7 Survey, Research, Exploration and Development Expenses

The details of Survey, Research, Exploration and Development Expenses are


as follows:

Amount
Percent
Account (in thousand
to Total
pesos)
Survey Expenses 97,866 51.68
Research, Exploration and Development
Expenses 91,494 48.32
Total 189,360 100.00

85
34.8 Demolition/Relocation and Desilting/Dredging Expenses

The details of Demolition/Relocation and Desilting/Dredging Expenses are as


follows:

Amount
Percent
Account (in thousand
to Total
pesos)
Demolition and Relocation Expenses 76,006 25.49
Desilting/Dredging Expenses 222,141 74.51
Total 298,147 100.00

34.9 Confidential, Intelligence and Extraordinary Expenses

The details of Confidential, Intelligence and Extraordinary Expenses are as


follows:

Amount
Percent
Account (in thousand
to Total
pesos)
Confidential Expenses 3,675,790 67.94
Intelligence Expenses 230,324 4.26
Extraordinary and Miscellaneous Expenses 1,504,090 27.80
Total 5,410,203 100.00

34.10 Professional Services

The details of Professional Services are as follows:

Amount
Percent
Account (in thousand
to Total
pesos)
Legal Services 74,311 0.65
Auditing Services 270,358 2.37
Consultancy Services 1,502,364 13.19
Other Professional Services 9,540,170 83.78
Total 11,387,203 100.00

34.11 General Services

This group of accounts aggregating P42.44 billion or 16.45 percent is the third
major component of MOOE. The three regions with the highest general
services are NCR – P12.37 billion or 29.15 percent, Region IV-A – P5.42
billion or 12.76 percent, and Region III – P4.44 billion or 10.47 percent as
presented in Annex 12.

Presented below is the breakdown of total General Services:

86
Amount
Percent
Account (in thousand
to Total
pesos)
Environment/Sanitary Services 12,765,870 30.08
Janitorial Services 2,235,438 5.27
Security Services 4,016,670 9.46
Other General Services 23,420,599 55.19
Total 42,438,577 100.00

34.12 Repairs and Maintenance

Breakdown of Repairs and Maintenance is as follows:

Amount
Percent
Account (in thousand
to Total
pesos)
Repairs and Maintenance-Investment Property 47,527 0.21
Repairs and Maintenance-Land Improvements 433,982 1.96
Repairs and Maintenance-Infrastructure Assets 10,306,523 46.59
Repairs and Maintenance-Buildings and Other
Structures 5,751,866 26.00
Repairs and Maintenance-Machinery and
Equipment 2,203,115 9.96
Repairs and Maintenance-Transportation
Equipment 3,026,771 13.68
Repairs and Maintenance-Furniture and Fixtures 44,453 0.20
Repairs and Maintenance-Leased Assets 2,718 0.01
Repairs and Maintenance-Leased Assets
Improvements 15,898 0.07
Repairs and Maintenance-Other Property, Plant
and Equipment 288,422 1.30
Total 22,121,274 100.00

ARMM posted the highest Repairs and Maintenance amounting to P3.84


billion as shown below.

Amount
Region
(in thousand pesos)
NCR 2,333,221
CAR 1,086,436
Region I 722,722
Region II 897,237
Region III 2,409,457
Region IV-A 2,121,944
Region IV-B 545,099
Region V 936,114
Region VI 605,512
Region VII 968,353
Region VIII 506,384
Region IX 645,682
Region X 833,799
Region XI 1,103,501
Region XII 813,283
Region XIII 713,530
Sub-Region XVI 1,042,852
ARMM 3,836,149
Total 22,121,274

87
34.13 Taxes, Insurance Premiums and Other Fees

The breakdown of Taxes, Insurance Premiums and Other Fees is as follows:

Amount
Percent
Account (in thousand
to Total
pesos)
Taxes, Duties and Licenses 553,867 24.53
Fidelity Bond Premiums 164,573 7.29
Insurance Expenses 1,539,876 68.19
Total 2,258,316 100.00

34.14 Other Maintenance and Operating Expenses

This group of accounts in the total amount of P86.03 billion or 33.35 percent
is the top component of MOOE. NCR reported the biggest expenses at P11.51
billion or 13.38 percent, followed by Region IV-A with P10.97 billion or 12.75
percent, and Region III with P8.69 billion or 10.11 percent as shown in Annex
13.

Presented below is the breakdown of Other Maintenance and Operating


Expenses:

Amount
Percent
Account (in thousand
to Total
pesos)
Advertising Expenses 628,999 0.73
Printing and Publication Expenses 652,342 0.76
Representation Expenses 3,955,570 4.60
Transportation and Delivery Expenses 121,622 0.14
Rent Expenses 1,465,602 1.70
Membership Dues and Contributions to
Organizations 298,835 0.35
Subscription Expenses 106,320 0.12
Donations 28,037,638 32.59
Other Maintenance and Operating
Expenses 50,760,506 59.01
Total 86,027,435 100.00

88
35. FINANCIAL EXPENSES
Of the total Financial Expenses of P4.83 billion, P4.58 billion, or 94.66 percent
represents Interest Expenses, which is the major component of this category. The
details of Financial Expenses are as follows:

Amount
(in thousand pesos)
Account
Increase/
2018 2017
(Decrease)
Management Supervision/Trusteeship
Fees 17,729 39,098 (21,368)
Interest Expenses 4,575,308 4,604,278 (28,970)
Guarantee Fees 4,643 4,555 88
Bank Charges 63,103 39,703 23,400
Commitment Fees 2,817 12,056 (9,239)
Other Financial Charges 169,635 130,730 38,905
Total 4,833,235 4,830,419 2,816

Of the Interest Expenses amounting to P4.58 billion, Region III, Region IV-A and
NCR were the three top regions which reported the highest amounts of P544.19
million or 11.89 percent, P496.63 million or 10.85 percent, and P495.72 million or
10.83 percent, respectively.

The regional breakdown of Interest Expenses ranked from highest to lowest is shown
below:

Amount Percent
Region
(in thousand pesos) To Total
Region III 544,187 11.89
Region IV-A 496,630 10.85
NCR 495,716 10.83
Region IX 321,837 7.03
Region II 301,432 6.59
Region VIII 227,534 4.97
Region I 223,100 4.88
Region VII 221,457 4.84
Region XI 214,711 4.69
Region X 213,923 4.68
Sub-Region XVI 207,585 4.54
Region V 207,121 4.53
Region VI 186,600 4.08
Region IV-B 167,326 3.66
Region XIII 165,225 3.61
ARMM 158,676 3.47
Region XII 154,869 3.38
CAR 67,379 1.47
Total 4,575,308 100.00

89
36. NON-CASH EXPENSES

Of the Non-Cash Expenses of P44.06 billion, Depreciation represents the component


with the highest amount at P43.79 billion or 99.39 percent, as shown below.

Amount
(in thousand pesos)
Account
Increase/
2018 2017
(Decrease)
Depreciation 43,794,864 35,562,725 8,232,139
Depreciation-Investment Property 304,294 270,881 33,412
Depreciation-Land Improvements 1,828,722 1,490,943 337,779
Depreciation-Infrastructure Assets 8,373,463 4,464,600 3,908,863
Depreciation-Buildings and Other Structures 13,005,891 11,990,842 1,015,049
Depreciation-Machinery and Equipment 14,011,751 11,932,895 2,078,856
Depreciation-Transportation Equipment 3,854,597 3,224,809 629,788
Depreciation-Furniture, Fixtures and Books 1,089,593 1,011,851 77,742
Depreciation-Leased Assets 36,852 3,991 32,860
Depreciation-Leased Assets Improvements 10,560 7,830 2,729
Depreciation-Service Concession Assets 8,615 7,134 1,482
Depreciation-Other Property, Plant and
Equipment 1,270,527 1,156,949 113,578
Amortization 106,551 86,903 19,648
Amortization-Intangible Assets 106,551 86,903 19,648
Impairment Loss 157,423 67,396 90,028
Impairment Loss-Loans and Receivables 20,708 27,316 (6,607)
Impairment Loss-Lease Receivables - 857 (857)
Impairment Loss-Investment in GOCCs 1 1 (1)
Impairment Loss-Investments in Joint Venture - 500 (500)
Impairment Loss-Other Receivables 625 10,021 (9,396)
Impairment Loss-Inventories 19,578 3,336 16,242
Impairment Loss-Investment Property 666 - 666
Impairment Loss-Property, Plant and
Equipment 7,510 24,348 (16,838)
Impairment Loss-Intangible Assets 108,334 1,017 107,317
Losses 3,193 3,800 (608)
Loss on Sale of Biological Assets 244 3,705 (3,461)
Loss on Initial Recognition of Biological Assets 2,949 95 2,853
Grants - 85 (85)
Grants for Concessionary Loans - 85 (85)
Total 44,062,031 35,720,909 8,341,123

36.1 Depreciation
Among its components, depreciation on machinery and equipment, and
buildings and other structures were the highest amounting to P14.01 billion or
31.99 percent and P13.01 billion or 29.70 percent, respectively.

90
36.2 Amortization
The regional breakdown of amortization totaling P106.55 million is shown
below:
Amounts
Percent
Region (in thousand
to Total
pesos)
NCR 41,788 39.22
CAR 261 0.24
Region I 4,111 3.86
Region II 1,046 0.98
Region III 5,086 4.77
Region IV-A 34,802 32.66
Region IV-B 1,910 1.79
Region V 203 0.19
Region VI 334 0.31
Region VII 1,643 1.54
Region VIII 13 0.01
Region IX 196 0.18
Region X 586 0.55
Region XI 3,165 2.97
Region XII - -
Region XIII 197 0.19
Sub-Region XVI 2,702 2.54
ARMM 8,509 7.99
Total 106,551 100.00

NCR, Region IV-A and ARMM reported the highest amortization of intangible
assets amounting to P41.79 million or 39.22 percent, P34.80 million or 32.66
percent, and P8.51 million or 7.99 percent, respectively.

36.3 Impairment Loss


The regions with impairment losses are:
Amounts
Percent
Region (in thousand
to Total
pesos)
CAR 29,157 18.52
Region I 1,398 0.89
Region II 1,513 0.96
Region III 56 0.04
Region IV-A 31,296 19.88
Region IV-B 8,980 5.70
Region V 105 0.07
Region VII 297 0.19
Region VIII 50,275 31.94
Region IX 438 0.28
Region X 1,363 0.87
Region XI 5,164 3.28
Region XII 21,113 13.41
Region XIII 1,102 0.70
Sub-Region XVI 705 0.45
ARMM 4,461 2.83
Total 157,423 100.00

91
37. TRANSFERS, ASSISTANCE AND SUBSIDY FROM
The comparative details of Transfers, Assistance and Subsidy from are as follows:

Amount
(in thousand pesos)
Account
Increase/
2018 2017
(Decrease)
Assistance and Subsidy 25,763,713 22,566,846 3,196,868
Subsidy from National Government 8,580,549 7,443,929 1,136,620
Subsidy from Local Government Units 1,863,796 2,037,567 (173,771)
Subsidy from Government-Owned and/or
Controlled Corporations 199,350 214,246 (14,896)
Subsidy from Other Funds 5,754,523 4,643,007 1,111,516
Subsidy from General Fund Proper/Other Special
Accounts 9,119,283 8,012,907 1,106,376
Subsidy from Other Local Economic Enterprise 246,213 215,190 31,022
Transfers 1,342,204 795,491 546,713
Transfers from General Fund of LGU
Counterpart/Equity Share 415,068 409,786 5,282
Transfers from General Fund of Unspent DRRMF 486,983 234,581 252,402
Transfers from National Government 392,629 147,518 245,111
Transfers from Other Local Government 47,524 3,606 43,918
Total 27,105,917 23,362,337 3,743,580

38. TRANSFERS, ASSISTANCE AND SUBSIDY TO

The comparative details of Transfers, Assistance and Subsidy To are as follows:

Amount
(in thousand pesos)
Account
Increase/
2018 2017
(Decrease)
Financial Assistance/Subsidy 27,701,538 26,181,842 1,519,696
Subsidy to NGAs 4,443,050 4,263,330 179,720
Subsidy to Other Local Government Units 5,253,301 4,798,166 455,136
Subsidy to Other Funds 6,199,744 6,028,556 171,188
Subsidy to General Fund Proper/Special Accounts 7,558,260 7,526,625 31,635
Subsidy to Local Economic Enterprises 2,530,314 1,873,275 657,038
Subsidies-Others 1,716,869 1,691,890 24,979
Transfers 10,000,241 10,107,483 (107,242)
Transfers of Unspent Current Year DRRM Funds
to the Trust Funds 8,536,304 8,264,200 272,104
Transfers for Project Equity Share /LGU
Counterpart 1,463,937 1,843,283 (379,346)
Total 37,701,779 36,289,325 1,412,454

92
39. SALE OF ASSETS (Other Non-Operating Income)
Sale of Garnished/Confiscated/Abandoned/Seized Goods and Property remarkably
decreased by P66.07 million or 89.10 percent, from P74.15 million in CY 2017 to
P8.08 million in CY 2018.
As shown below, the three regions that reported the biggest amounts of Sale of
Garnished/Confiscated/Abandoned/Seized Goods and Property are Region III at P3.42
million, Region XI at P2.93 million and Region XIII at P0.89 million. The regional
breakdown is shown below:

Amount
Region
(in thousand pesos)
NCR 511
CAR -
Region I -
Region II 294
Region III 3,420
Region IV-A 30
Region IV-B -
Region V -
Region VI -
Region VII -
Region VIII -
Region IX -
Region X -
Region XI 2,931
Region XII -
Region XIII 894
Sub-Region XVI -
ARMM -
Total 8,080

40. GAINS (Other Non-Operating Income)

The comparative details of total gains are as follows:

Amount
(in thousand pesos)
Account
Increase/
2018 2017
(Decrease)
Gain from Changes in Fair Value of Financial
Instruments 215 5 210
Gain on Foreign Exchange (FOREX) 2,669 269 2,399
Gain on Sale of Investments 360 407 (47)
Gain on Sale of Investment Property 6,087 519 5,568
Gain on Sale of Property, Plant and Equipment 210,423 192,638 17,785
Other Gains 14,578 11,443,785 (11,429,207)
Total 234,332 11,637,624 (11,403,292)

Of the total Gains of P234.33 million, P210.42 million or 89.80 percent was derived
from Gain on Sale of Property, Plant and Equipment.

93
Region V and Region III are the leading contributors to this category amounting to
P169.79 billion or 72.46 percent and P18.43 million or 7.86 percent, respectively, as
shown in Annex 14.

41. MISCELLANEOUS INCOME (Other Non-Operating Income)

The Miscellaneous Income totaling P2.98 billion increased by P789.09 million or


36.06 percent as compared to previous year’s total of P2.19 billion.

42. LOSSES (Other Non-Operating Losses)


The comparative details of losses are as follows:

Amount
(in thousand pesos)
Account
Increase/
2018 2017
(Decrease)
Loss on Foreign Exchange (FOREX) 172,463 108,539 63,924
Loss on Sale of Property, Plant and Equipment 477,304 120,946 356,358
Loss on Sale of Intangible Assets 314 - 314
Loss on Sale of Assets 49,225 15,285 33,940
Loss of Assets 13,262 42,744 (29,482)
Loss on Guaranty - 35 (35)
Other Losses 27,387 9.614 17,774
Total 739,956 297,163 442,793

Region VII and NCR reported the highest losses at P461.18 million or 62.33 percent
and P115.48 million or 15.61 percent, respectively. The details are presented below.

Amount
Percent
Region (in thousand
to Total
pesos)
NCR 115,479 15.61
CAR 14,232 1.92
Region I 2,919 0.39
Region II 1,512 0.20
Region III 33,323 4.50
Region IV-A 52,812 7.14
Region IV-B 807 0.11
Region V 9,870 1.33
Region VI 14,774 2.00
Region VII 461,180 62.33
Region VIII 1,906 0.26
Region IX 7,577 1.02
Region X 1,886 0.25
Region XI 3,117 0.42
Region XII 515 0.07
Region XIII 12,930 1.75
Sub-Region XVI 5,114 0.69
ARMM - -
Total 739,956 100.00

94
43. CASH INFLOWS FROM OPERATING ACTIVITIES

The comparative details are as follows:

Amount
(in thousand pesos)
Particulars
Increase/
2018 2017
(Decrease)

Collection from taxpayers 178,716,816 160,234,378 18,482,438


Share from Internal Revenue Allotment 415,588,669 380,311,852 35,276,817
Receipts from business/service income 56,637,208 51,866,537 4,770,672
Interest Income 2,387,842 2,233,567 154,276
Dividend Income 1,604,361 610,468 993,893
Other Receipts 292,688,322 248,561,152 44,127,169
Total 947,623,217 843,817,953 103,805,264

The regional breakdown of Cash Inflows from Operating Activities is as follows:

Receipts
Share from
Collection from
Internal Interest Dividend Other
Region Total from Business/
Revenue Income Income Receipts
taxpayers Service
Allotment
Income

NCR 171,759,545 80,400,272 21,332,602 11,070,460 1,134,270 - 57,821,941


CAR 26,100,121 1,565,213 13,447,475 1,537,162 63,808 5 9,486,457
Region I 61,497,591 6,078,444 22,142,390 3,818,988 131,927 29,334 29,296,508
Region II 41,216,869 2,355,488 22,262,455 2,065,944 62,420 16,242 14,454,320
Region III 81,980,124 15,369,438 39,596,263 4,597,802 101,770 29,959 22,284,892
Region IV-A 113,862,778 29,841,710 47,757,652 7,265,170 182,800 884 28,814,560
Region IV-B 36,836,377 2,883,686 19,068,581 1,328,838 79,146 - 13,476,126
Region V 45,842,986 2,886,317 25,196,761 1,885,162 66,159 - 15,808,586
Region VI 40,211,143 4,718,040 18,330,705 4,210,287 57,553 14,836 12,879,724
Region VII 48,509,276 8,827,778 20,885,044 3,911,764 123,764 15,798 14,745,128
Region VIII 40,976,445 2,060,694 24,978,607 2,349,697 36,320 30,437 11,520,689
Region IX 30,153,436 1,897,594 16,645,208 1,474,347 54,152 979,055 9,103,079
Region X 43,706,426 5,022,320 23,309,323 2,851,441 55,914 80,428 12,386,999
Region XI 42,004,014 6,020,234 21,258,875 3,171,182 61,932 39,671 11,452,119
Region XII 32,600,040 2,641,431 19,507,300 1,776,140 38,163 - 8,637,006
Region XIII 29,510,728 2,144,822 17,457,310 1,930,016 27,994 274,630 7,675,955
Sub-Region XVI 36,851,859 3,802,729 22,168,741 1,179,143 46,737 67,765 9,586,744
ARMM 24,003,461 200,605 20,243,375 213,665 63,014 25,316 3,257,486
Total 947,623,217 178,716,816 415,588,669 56,637,208 2,387,842 1,604,361 292,688,322

95
44. CASH OUTFLOWS FROM OPERATING ACTIVITES

The comparative details are as follows:

Amount
(in thousand pesos)
Particulars
Increase/
2018 2017
(Decrease)

Payments of expenses 84,794,160 69,446,419 15,347,741


Payment to suppliers and creditors 211,018,428 182,476,603 28,541,824
Payment to employees 182,649,558 166,311,523 16,338,034
Interest Expense 5,203,068 5,413,184 (210,116.68)
Other Expenses 235,560,087 190,071,635 45,488,451
Total 719,225,302 613,719,367 105,505,935

The regional breakdown of Cash Outflows from Operating Activities is as follows:

Payment to
Payment suppliers Payment to Interest Other
Region Total
of expenses and employees Expense Expenses
creditors

NCR 134,615,615 15,554,361 36,191,667 21,080,108 487,820 61,301,659


CAR 20,292,040 1,467,435 6,155,144 5,097,713 127,138 7,444,610
Region I 36,465,625 6,879,562 12,431,766 9,269,422 198,832 7,686,044
Region II 33,230,744 1,263,703 8,903,093 8,458,978 442,489 14,162,482
Region III 63,791,291 3,921,676 21,780,800 18,832,953 632,822 18,623,039
Region IV-A 81,449,370 8,838,648 26,957,161 20,185,964 451,649 25,015,949
Region IV-B 29,203,042 2,540,729 7,259,060 6,045,628 553,157 12,804,468
Region V 35,042,678 5,421,281 9,183,615 10,821,824 246,857 9,369,101
Region VI 30,794,569 3,197,981 11,185,505 8,220,546 270,646 7,919,892
Region VII 37,443,499 6,481,765 8,347,401 7,607,873 197,725 14,808,735
Region VIII 28,871,982 2,970,778 7,606,818 9,364,712 266,398 8,663,276
Region IX 22,443,010 3,234,781 6,095,700 6,196,893 207,747 6,707,888
Region X 35,151,647 3,653,168 12,033,013 11,054,051 180,730 8,230,685
Region XI 32,246,644 8,883,030 6,717,744 8,587,876 224,245 7,833,749
Region XII 26,743,564 3,932,636 8,423,877 8,910,169 256,512 5,220,369
Region XIII 23,249,647 2,203,259 5,506,537 7,298,036 130,755 8,111,061
Sub-Region XVI 29,079,919 2,011,998 8,021,064 8,829,720 154,157 10,062,980
ARMM 19,110,414 2,337,371 8,218,461 6,787,092 173,390 1,594,100
Total 719,225,302 84,794,160 211,018,428 182,649,558 5,203,068 235,560,087

96
45. CASH INFLOWS FROM INVESTING ACTIVITIES

The comparative details are as follows:

Amount
(in thousand pesos)
Particulars
Increase/
2018 2017
Decrease

Proceeds from Sale of Investment Property 363,937 49,541 314,396


Proceeds from Sale/Disposal of Property,
Plant and Equipment 287,752 321,278 (33,526)
Proceeds from Sale of Investments 23,175 586,909 (563,734)
Collection of Principal on Loans to Other
Entities 816,221 1,162,662 (346,441)
Total 1,491,085 2,120,390 (629,306)

The regional breakdown of Cash Inflows from Investing Activities is as follows:

Proceeds from Collection of


Proceeds from Proceeds
Sale of Principal on
Region Total Sale/ Disposal from Sale of
Investment Loans to Other
of PPE Investments
Property Entities

NCR 4,453 - 4,453 - -


CAR 35,892 - 3,090 - 32,803
Region I 24,287 - 7,413 - 16,874
Region II 422,055 - 1,111 100 420,844
Region III 93,577 13,327 30,108 3,546 46,596
Region IV-A 63,248 - 16,717 - 46,531
Region IV-B 37,546 - 97 - 37,449
Region V 45,707 - 1,837 - 43,870
Region VI 159,831 68,618 26,625 - 64,588
Region VII 11,323 - 1,134 9,949 240
Region VIII 102,475 - 57,485 - 44,990
Region IX 9,149 5 3,626 4 5,514
Region X (6,158) - 5,617 305 (12,080)
Region XI 91,463 - 36,045 - 55,418
Region XII 91,410 17 88,058 285 3,050
Region XIII 17,072 - 1,378 8,682 7,013
Sub-Region XVI 5,784 - 2,959 304 2,521
ARMM 281,970 281,970 - - -
Total 1,491,085 363,937 287,752 23,175 816,221

97
46. CASH OUTFLOWS FROM INVESTING ACTIVITIES

The comparative details are as follows:

Amount
(in thousand pesos)
Particulars
Increase/
2018 2017
Decrease

Purchase/Construction of Investment
Property 4,968,624 3,083,793 1,884,831
Purchase/Construction of Property, Plant
and Equipment 149,678,929 105,793,693 43,885,236
Investment 5,471,211 2,881,990 2,589,221
Purchase of Bearer Biological Assets 255,151 1,164,607 (909,456)
Purchase of Intangible Assets 117,623 74,246 43,377
Grant of Loans 708,380 393,935 314,445
Total 161,199,918 113,392,264 47,807,654

The regional breakdown of Cash Outflows from Investing Activities is as follows:

Purchase/ Purchase of Purchase


Purchase/
Construction Bearer of Grant of
Region Total Construction Investment
of Investment Biological Intangible Loans
of PPE
Property Assets Assets

NCR 22,972,324 1,276,282 21,030,152 580,000 2,312 75,228 8,350


CAR 4,896,945 481,818 4,011,286 400,480 - - 3,362
Region I 11,056,804 351,894 10,438,848 244,308 5,142 - 16,612
Region II 7,314,049 48,950 6,933,757 6,083 4,362 4,267 316,630
Region III 14,086,417 300,054 12,848,672 899,953 7,947 8,113 21,678
Region IV-A 19,934,659 94,206 19,455,626 325,250 6,605 21,661 31,309
Region IV-B 5,858,080 65,066 5,320,012 452,716 256 3,260 16,769
Region V 8,475,198 67,642 8,067,972 308,543 7,022 1,061 22,959
Region VI 6,753,425 142,626 6,558,810 37,233 - 380 14,375
Region VII 7,358,922 117,207 7,207,077 32,414 458 1,765 -
Region VIII 9,165,089 131,259 9,018,276 7,172 5,600 260 2,522
Region IX 5,515,164 196,556 4,972,822 343,925 62 - 1,800
Region X 8,194,607 764,954 7,396,428 31,917 582 - 727
Region XI 7,086,120 414,243 5,500,724 957,533 211,947 369 1,303
Region XII 5,999,252 120,579 5,750,604 95,958 756 475 30,879
Region XIII 5,585,975 215,000 5,141,388 109,801 873 588 118,324
Sub-Region XVI 5,448,490 144,636 4,940,435 300,169 1,029 194 62,027
ARMM 5,498,400 35,652 5,086,040 337,756 198 - 38,754
Total 161,199,918 4,968,624 149,678,929 5,471,211 255,151 117,623 708,380

98
47. CASH INFLOWS FROM FINANCING ACTIVITIES

The comparative details are as follows:

Amount
(in thousand pesos)
Particulars
Increase/
2018 2017
Decrease
Proceeds from Issuance of Bills and Bonds 1,077,389 496,103 581,286
Proceeds from Domestic and Foreign
Loans 19,995,229 13,739,095 6,256,135
Total 21,072,619 14,235,198 6,837,421

The regional breakdown of Cash Inflows from Financing Activities is as follows:

Proceeds from Proceeds from


Region Total Issuance of Bills Domestic and
and Bonds Foreign Loans

NCR 1,406,437 5,934 1,400,503


CAR 192,828 - 192,828
Region I 733,099 - 733,099
Region II 1,659,761 - 1,659,761
Region III 1,431,979 25,775 1,406,205
Region IV-A 2,205,545 - 2,205,545
Region IV-B 644,123 - 644,123
Region V 1,498,106 126,835 1,371,272
Region VI 817,905 - 817,905
Region VII 734,319 - 734,319
Region VIII 746,627 249,688 496,939
Region IX 748,876 - 748,876
Region X 1,336,270 329,669 1,006,600
Region XI 1,967,374 - 1,967,374
Region XII 1,715,397 42,559 1,672,838
Region XIII 924,996 11,806 913,190
Sub-Region XVI 1,489,745 285,124 1,204,621
ARMM 819,231 - 819,231
Total 21,072,619 1,077,389 19,995,229

99
48. CASH OUTFLOWS FROM FINANCING ACTIVITIES

The comparative details are as follows:

Amount
(in thousand pesos)
Particulars
Increase/
2018 2017
Decrease

Payment of Long-Term Liabilities 2,108,465 3,960,843 (1,852,378)


Retirement/Redemption of Debt Securities 54,593 45,525 9,067
Payment of Loan Amortization 12,980,550 11,601,493 1,379,057
Total 15,143,607 15,607,861 (464,254)

The regional breakdown of Cash Outflows from Financing Activities is as follows:

Retirement/
Payment of Payment of
Redemption of
Region Total Long-Term Loan
Debt
Liabilities Amortization
Securities

NCR 2,418,628 376,984 - 2,041,644


CAR 225,243 13,215 - 212,029
Region I 827,150 96,500 274 730,376
Region II 532,458 67,595 18,136 446,727
Region III 1,654,554 227,164 - 1,427,390
Region IV-A 1,835,160 242,115 9,848 1,583,197
Region IV-B 550,805 262,957 - 287,848
Region V 792,509 33,689 - 758,820
Region VI 601,830 11,659 - 590,170
Region VII 557,661 330,850 - 226,810
Region VIII 500,144 27,694 2,267 470,184
Region IX 664,883 7,501 - 657,382
Region X 528,657 (31,721) 1,721 558,657
Region XI 857,007 79,028 - 777,979
Region XII 758,394 - 19,158 739,236
Region XIII 474,967 44,801 - 430,165
Sub-Region XVI 699,900 155,196 - 544,704
ARMM 663,656 163,236 3,188 497,232
Total 15,143,607 2,108,465 54,593 12,980,550

100
PART III

FINANCIAL PROFILE
OF LOCAL
GOVERNMENT UNITS
Provinces
Republic of the Philippines
Financial Profile - Provinces
Calendar Year 2018
(in thousand pesos)

Region Financial Position Financial Performance Cash Position


Net Cash
1
Provinces Assets Liabilities Equity Revenue Expenses 2 Surplus (Deficit) Cash Bal. Beg. Provided by Cash Bal. End
(Used In)

CAR
Abra 4,003,678 1,101,159 2,902,519 2,336,164 1,134,248 1,201,916 634,212 182,504 816,716
Apayao 2,616,009 646,717 1,969,292 928,233 631,872 296,362 1,224,836 102,454 1,327,290
Benguet 4,217,879 849,278 3,368,602 1,488,397 1,039,634 448,763 516,306 46,083 562,389
Ifugao 2,542,433 941,701 1,600,732 993,508 812,084 181,424 1,076,898 192,198 1,269,096
Kalinga 2,076,118 888,476 1,187,642 1,075,778 812,476 263,301 943,401 10,598 953,999
Mountain Province 2,572,295 906,061 1,666,234 838,124 659,224 178,900 647,869 54,161 702,030
Sub-total 18,028,411 5,333,392 12,695,019 7,660,204 5,089,538 2,570,666 5,043,522 587,999 5,631,521

REGION I
Ilocos Norte 5,636,244 1,057,943 4,578,300 2,396,412 1,152,028 1,244,384 1,199,318 743,169 1,942,487
101

Ilocos Sur 9,111,955 2,329,232 6,782,722 5,719,719 3,315,685 2,404,034 1,418,310 2,037,835 3,456,145
La Union * 7,699,623 955,981 6,743,642 2,823,771 1,689,455 1,134,317 1,023,343 575,016 1,598,359
Pangasinan 11,124,188 2,465,958 8,658,230 4,093,692 3,177,955 915,737 2,284,451 607,846 2,892,297
Sub-total 33,572,009 6,809,115 26,762,894 15,033,594 9,335,122 5,698,472 5,925,422 3,963,867 9,889,289

REGION II
Batanes 1,061,439 429,291 632,148 428,490 338,231 90,259 411,758 65,826 477,585
Cagayan 6,975,713 1,173,718 5,801,995 2,376,534 982,501 1,394,033 3,559,174 911,382 4,470,555
Isabela 9,208,120 4,331,667 4,876,453 3,085,563 2,543,681 541,883 3,330,216 51,895 3,382,111
Nueva Vizcaya 5,006,819 858,659 4,148,160 1,427,244 1,157,893 269,351 1,207,159 (2,138) 1,205,021
Quirino 3,652,275 761,177 2,891,097 1,282,871 1,026,068 256,803 653,252 (173,130) 480,123
Sub-total 25,904,366 7,554,512 18,349,853 8,600,703 6,048,374 2,552,329 9,161,559 853,836 10,015,395

REGION III
Aurora 2,180,187 315,962 1,864,225 906,054 697,559 208,495 766,207 157,237 923,444
Bataan 7,326,947 2,367,859 4,959,088 2,843,490 2,192,319 651,171 1,345,061 93,191 1,438,253
Bulacan 11,165,937 2,622,912 8,543,025 4,995,102 3,843,318 1,151,784 1,102,589 144,481 1,247,069
Nueva Ecija 9,660,158 2,751,653 6,908,505 3,614,775 2,526,085 1,088,690 1,921,686 811,175 2,732,861
Pampanga 10,296,466 2,374,042 7,922,424 3,259,191 2,843,468 415,723 3,834,949 482,466 4,317,415
Republic of the Philippines
Financial Profile - Provinces
Calendar Year 2018
(in thousand pesos)

Region Financial Position Financial Performance Cash Position


Net Cash
1
Provinces Assets Liabilities Equity Revenue Expenses 2 Surplus (Deficit) Cash Bal. Beg. Provided by Cash Bal. End
(Used In)
Tarlac 7,225,505 2,458,746 4,766,759 2,089,049 1,696,859 392,190 2,017,029 218,079 2,235,107
Zambales 11,241,553 2,074,566 9,166,987 1,700,197 1,061,500 638,697 876,199 46,597 922,796
Sub-total 59,096,753 14,965,739 44,131,014 19,407,858 14,861,107 4,546,752 11,863,719 1,953,225 13,816,944

REGION IV-A
Batangas 18,185,648 2,817,380 15,368,269 3,773,263 2,848,007 925,256 2,860,288 191,957 3,052,245
Cavite 8,285,991 1,022,221 7,263,769 4,204,717 2,782,602 1,422,115 2,695,290 757,508 3,452,798
Laguna 11,587,438 2,545,278 9,042,160 4,320,075 3,373,203 946,872 2,318,239 23,884 2,342,123
Quezon 9,228,923 2,779,936 6,448,988 3,960,552 2,963,349 997,203 3,348,263 364,986 3,713,249
Rizal 18,076,918 2,272,322 15,804,596 4,322,358 2,090,673 2,231,686 5,656,401 1,640,039 7,296,439
Sub-total 65,364,918 11,437,136 53,927,782 20,580,964 14,057,833 6,523,132 16,878,481 2,978,374 19,856,855
102

REGION IV-B
Marinduque 2,407,984 687,038 1,720,946 688,002 530,921 157,081 1,006,292 52,862 1,059,154
Occidental Mindoro 2,652,631 842,267 1,810,364 1,538,047 1,398,549 139,498 299,968 (105,052) 194,915
Oriental Mindoro 6,414,983 2,013,078 4,401,905 1,873,534 1,214,872 658,662 1,795,620 151,698 1,947,318
Palawan 11,277,134 5,155,502 6,121,633 3,030,845 2,293,738 737,107 4,464,623 168,402 4,633,024
Romblon 2,871,523 791,351 2,080,172 864,042 633,857 230,185 744,406 72,880 817,286
Sub-total 25,624,255 9,489,235 16,135,020 7,994,469 6,071,937 1,922,533 8,310,907 340,790 8,651,697

REGION V
Albay 8,441,000 2,963,067 5,477,932 2,009,263 1,352,797 656,466 1,982,177 1,512,348 3,494,525
Camarines Norte 5,650,734 1,364,547 4,286,187 1,241,818 960,527 281,290 500,404 170,241 670,645
Camarines Sur 9,540,870 3,163,388 6,377,482 3,124,554 2,351,797 772,757 1,396,755 301,833 1,698,588
Catanduanes 2,435,237 984,533 1,450,704 903,183 704,130 199,052 710,621 94,386 805,007
Masbate 4,898,279 1,156,189 3,742,090 1,592,468 1,156,928 435,540 1,542,947 194,593 1,737,540
Sorsogon 3,148,964 1,273,146 1,875,819 1,521,971 1,180,820 341,151 822,197 93,503 915,700
Sub-total 34,115,084 10,904,870 23,210,214 10,393,257 7,706,999 2,686,257 6,955,101 2,366,905 9,322,007

REGION VI
Aklan 6,076,284 2,028,151 4,048,134 1,668,572 1,455,506 213,067 1,369,927 (111,209) 1,258,718
Antique 5,373,970 1,612,815 3,761,155 1,684,328 1,022,300 662,029 2,175,613 603,436 2,779,049
Republic of the Philippines
Financial Profile - Provinces
Calendar Year 2018
(in thousand pesos)

Region Financial Position Financial Performance Cash Position


Net Cash
1
Provinces Assets Liabilities Equity Revenue Expenses 2 Surplus (Deficit) Cash Bal. Beg. Provided by Cash Bal. End
(Used In)
Capiz 4,679,252 1,341,773 3,337,479 2,361,102 2,020,818 340,284 1,180,506 131,656 1,312,162
Guimaras 2,603,833 468,947 2,134,886 723,729 530,418 193,312 489,933 71,074 561,007
Iloilo 11,441,658 3,070,220 8,371,438 3,623,489 2,264,562 1,358,927 4,329,597 463,953 4,793,551
Sub-total 30,174,998 8,521,906 21,653,091 10,061,221 7,293,603 2,767,618 9,545,576 1,158,910 10,704,487

REGION VII
Bohol 8,186,852 2,918,201 5,268,651 2,338,195 1,768,365 569,830 3,573,505 77,415 3,650,920
Cebu 35,659,470 4,300,173 31,359,297 4,646,684 4,280,805 365,879 3,610,800 815,387 4,426,187
Siquijor 2,831,044 774,410 2,056,634 574,034 385,539 188,495 835,981 71,194 907,175
Sub-total 46,677,366 7,992,784 38,684,582 7,558,912 6,434,709 1,124,204 8,020,287 963,995 8,984,282

REGION VIII
Biliran 1,550,364 442,593 1,107,771 672,893 527,563 145,330 323,858 3,193 327,051
103

Eastern Samar 3,135,669 1,119,554 2,016,115 1,283,426 925,995 357,430 1,286,877 449,644 1,736,520
Leyte 10,306,650 2,294,458 8,012,192 2,767,579 1,741,485 1,026,094 2,906,190 403,840 3,310,030
Northern Samar 6,186,553 2,603,214 3,583,339 1,450,564 915,961 534,603 1,730,960 346,810 2,077,769
Samar 5,517,149 2,276,444 3,240,705 1,904,471 1,326,189 578,282 1,253,094 371,621 1,624,715
Southern Leyte 3,286,429 1,273,127 2,013,302 1,125,720 804,173 321,547 972,889 162,404 1,135,293
Sub-total 29,982,814 10,009,391 19,973,423 9,204,652 6,241,366 2,963,286 8,473,867 1,737,511 10,211,378

REGION IX
Zamboanga Del Norte 6,516,313 2,380,451 4,135,861 2,156,011 1,502,532 653,478 1,325,425 145,444 1,470,870
Zamboanga Del Sur 8,734,211 1,986,418 6,747,793 2,109,813 1,336,865 772,948 2,458,537 504,983 2,963,520
Zamboanga Sibugay 3,420,801 1,245,061 2,175,739 1,472,809 866,298 606,511 1,405,204 195,635 1,600,839
Sub-total 18,671,324 5,611,930 13,059,394 5,738,633 3,705,696 2,032,937 5,189,166 846,063 6,035,229

REGION X
Bukidnon 15,278,831 2,573,040 12,705,791 3,494,673 2,373,498 1,121,175 4,024,924 (119,123) 3,905,801
Camiguin 1,727,118 546,312 1,180,806 501,342 396,910 104,432 539,020 (34,333) 504,687
Lanao Del Norte 5,643,663 922,823 4,720,840 1,616,085 964,678 651,408 2,319,637 376,951 2,696,588
Misamis Occidental 4,806,228 1,304,260 3,501,967 1,464,473 1,210,853 253,620 887,259 148,493 1,035,752
Misamis Oriental 4,879,564 1,977,968 2,901,597 1,901,704 1,602,156 299,548 1,274,600 (20,343) 1,254,257
Sub-total 32,335,405 7,324,403 25,011,002 8,978,278 6,548,094 2,430,183 9,045,439 351,646 9,397,085
Republic of the Philippines
Financial Profile - Provinces
Calendar Year 2018
(in thousand pesos)

Region Financial Position Financial Performance Cash Position


Net Cash
1
Provinces Assets Liabilities Equity Revenue Expenses 2 Surplus (Deficit) Cash Bal. Beg. Provided by Cash Bal. End
(Used In)

REGION XI
Compostela Valley 19,615,342 2,172,329 17,443,013 2,057,553 2,023,921 33,633 1,304,725 16,587 1,321,312
Davao Del Norte 5,638,279 2,421,540 3,216,739 1,739,290 1,573,173 166,117 1,667,775 (633) 1,667,142
Davao Del Sur 6,567,254 1,905,504 4,661,750 1,298,573 1,156,950 141,623 1,518,443 (77,112) 1,441,331
Davao Occidental 2,454,632 900,506 1,554,126 898,140 564,878 333,262 676,633 357,341 1,033,974
Davao Oriental 3,822,320 1,253,213 2,569,106 1,598,558 1,529,698 68,860 624,526 (43,422) 581,104
Sub-total 38,097,827 8,653,092 29,444,734 7,592,115 6,848,620 743,495 5,792,102 252,761 6,044,863

REGION XII
North Cotabato 9,114,520 1,876,782 7,237,738 2,771,781 1,366,419 1,405,362 1,334,102 125,661 1,459,763
Sarangani 3,438,539 1,148,554 2,289,985 1,553,073 881,585 671,487 1,241,607 31,557 1,273,165
South Cotabato 5,566,362 1,662,250 3,904,112 1,998,729 1,454,907 543,822 1,699,624 139,570 1,839,194
104

Sultan Kudarat 3,639,708 908,215 2,731,493 1,536,439 1,432,630 103,809 1,227,421 (162,948) 1,064,473
Sub-total 21,759,129 5,595,801 16,163,328 7,860,022 5,135,541 2,724,480 5,502,754 133,840 5,636,594

REGION XIII
Agusan Del Norte 3,654,269 1,136,489 2,517,780 1,661,084 1,308,042 353,042 1,318,732 (11,964) 1,306,768
Agusan Del Sur 8,050,159 2,023,978 6,026,181 2,116,398 1,345,686 770,713 2,336,016 411,616 2,747,632
Dinagat Islands 1,132,468 208,623 923,845 614,117 463,051 151,067 496,355 91,511 587,866
Surigao Del Norte 8,784,045 2,478,726 6,305,320 1,156,677 893,547 263,129 1,886,333 (121,289) 1,765,044
Surigao Del Sur 4,090,515 1,796,504 2,294,011 1,376,749 1,058,816 317,932 1,103,493 (170,538) 932,955
Sub-total 25,711,456 7,644,320 18,067,137 6,925,025 5,069,143 1,855,882 7,140,929 199,336 7,340,264

SUB-REGION XVI
Negros Occidental 14,446,029 5,849,398 8,596,631 5,987,917 5,120,478 867,438 4,414,983 612,354 5,027,337
Negros Oriental 9,396,773 2,118,836 7,277,938 2,431,988 1,488,572 943,415 3,042,924 780,681 3,823,606
Sub-total 23,842,802 7,968,233 15,874,569 8,419,904 6,609,051 1,810,854 7,457,907 1,393,035 8,850,942

ARMM
Basilan 1,193,063 573,110 619,953 952,108 850,759 101,350 205,573 (234) 205,339
Lanao Del Sur 4,574,099 1,546,337 3,027,762 2,294,037 1,725,374 568,663 1,041,631 22,764 1,064,395
Republic of the Philippines
Financial Profile - Provinces
Calendar Year 2018
(in thousand pesos)

Region Financial Position Financial Performance Cash Position


Net Cash
1
Provinces Assets Liabilities Equity Revenue Expenses 2 Surplus (Deficit) Cash Bal. Beg. Provided by Cash Bal. End
(Used In)

Maguindanao 1,661,534 991,068 670,466 2,103,575 1,869,214 234,361 445,685 (110,651) 335,034
Sulu 501,487 29,053 472,434 1,227,126 720,271 506,855 238,440 (208,851) 29,589
Tawi Tawi 1,675,298 12,927 1,662,371 1,025,742 835,025 190,717 25,788 (5,297) 20,491
Sub-total 9,605,481 3,152,495 6,452,986 7,602,588 6,000,642 1,601,945 1,957,116 (302,269) 1,654,847
GRANDTOTAL 538,564,398 138,968,356 399,596,042 169,612,398 123,057,374 46,555,025 132,263,856 19,779,823 152,043,678

1 Revenue data includes Transfers from, Assistance from, Subsidy from and Other Non-Operating Income
2 Expenses data includes Transfers to, Assistance to, Subsidy to and Losses

* La Union Province data includes the Financial Statements of La Union Medical Center
105
Cities
Republic of the Philippines
Financial Profile - Cities
Calendar Year 2018
(in thousand pesos)

Region Financial Position Financial Performance Cash Position


Net Cash
1 2
Cities Assets Liabilities Equity Revenue Expenses Surplus (Deficit) Cash Bal. Beg. Provided by Cash Bal. End
(Used In)

NCR
Caloocan 18,380,722 8,013,468 10,367,253 5,685,574 4,425,237 1,260,337 2,649,236 682,842 3,332,078
Las Piñas 7,912,088 2,867,669 5,044,419 2,977,797 2,265,478 712,319 2,648,659 339,297 2,987,956
Makati 230,833,167 13,825,187 217,007,980 17,817,363 15,419,977 2,397,386 14,755,705 3,641,923 18,397,627
Malabon 3,054,706 890,342 2,164,364 1,705,759 1,444,765 260,994 932,242 (229,274) 702,969
Mandaluyong 6,790,558 2,548,802 4,241,756 4,918,174 4,618,591 299,583 2,240,052 138,852 2,378,904
Manila 40,711,068 19,253,953 21,457,115 14,103,197 11,122,474 2,980,723 10,544,862 1,239,526 11,784,388
Marikina 7,615,510 1,937,430 5,678,080 2,598,140 2,354,964 243,176 1,648,775 (177,834) 1,470,941
Muntinlupa 9,436,380 2,800,055 6,636,325 5,466,431 4,105,776 1,360,655 1,380,168 1,158,839 2,539,008
Navotas 3,695,599 785,407 2,910,192 1,516,463 1,137,341 379,122 359,125 221,834 580,958
Parañaque 11,148,976 4,422,347 6,726,629 6,668,781 4,401,588 2,267,193 2,028,503 1,188,724 3,217,226
Pasay 18,278,121 9,886,892 8,391,229 5,659,042 4,903,236 755,806 4,038,101 279,627 4,317,728
106

Pasig 38,985,146 4,800,331 34,184,815 12,309,643 6,989,812 5,319,832 8,732,391 1,560,238 10,292,629
Quezon 87,285,266 18,471,036 68,814,230 20,594,730 14,578,822 6,015,908 21,781,466 (467,950) 21,313,516
San Juan 4,470,920 1,400,443 3,070,477 1,929,619 1,665,623 263,996 1,261,349 362,191 1,623,540
Taguig 24,535,710 12,609,212 11,926,498 11,276,178 7,588,140 3,688,038 8,100,211 3,263,703 11,363,914
Valenzuela 8,503,923 3,720,450 4,783,472 4,194,973 3,830,068 364,906 277,778 (219,134) 58,645

Component Units
Pamantasan ng Lungsod ng Maynila 1,183,061 108,869 1,074,192 706,241 538,957 167,284 603,193 76,932 680,125
Quezon City General Hospital 3,016,943 362,454 2,654,489 1,136,120 712,938 423,181 1,449,841 108,979 1,558,820
Sub-total 525,837,864 108,704,348 417,133,516 121,264,226 92,103,787 29,160,439 85,431,658 13,169,314 98,600,972

CAR
Baguio 8,510,310 3,030,318 5,479,992 1,910,296 1,220,168 690,129 1,031,700 (58,080) 973,620
Tabuk 2,169,535 325,832 1,843,704 963,113 693,718 269,395 899,707 (17,749) 881,958
Sub-total 10,679,845 3,356,150 7,323,695 2,873,409 1,913,885 959,524 1,931,407 (75,829) 1,855,578

REGION I
Alaminos 1,656,575 396,912 1,259,663 634,178 573,375 60,803 214,644 18,165 232,809
Batac 2,200,988 279,464 1,921,524 537,382 315,449 221,932 1,159,810 64,731 1,224,541
Candon 2,192,096 152,201 2,039,895 1,121,700 567,616 554,084 374,064 421,772 795,836
Dagupan 2,662,634 728,020 1,934,614 989,006 702,835 286,171 646,716 135,737 782,452
Republic of the Philippines
Financial Profile - Cities
Calendar Year 2018
(in thousand pesos)

Region Financial Position Financial Performance Cash Position


Net Cash
1 2
Cities Assets Liabilities Equity Revenue Expenses Surplus (Deficit) Cash Bal. Beg. Provided by Cash Bal. End
(Used In)
Laoag 1,895,139 739,622 1,155,518 942,081 759,627 182,454 425,324 143,218 568,542
San Carlos 1,550,203 495,600 1,054,603 784,795 578,719 206,076 401,096 38,100 439,196
San Fernando 1,629,325 248,097 1,381,228 808,972 558,906 250,066 482,266 141,453 623,720
Urdaneta 2,044,612 340,714 1,703,898 914,250 759,766 154,484 618,395 125,350 743,745
Vigan 1,434,476 184,646 1,249,830 628,075 388,049 240,026 459,122 240,157 699,279
Sub-total 17,266,049 3,565,275 13,700,774 7,360,441 5,204,344 2,156,097 4,781,437 1,328,683 6,110,121

REGION II
Cauayan 1,330,598 692,772 637,826 926,808 835,777 91,032 252,117 90,768 342,885
Ilagan 2,348,867 1,725,923 622,944 1,627,788 1,383,979 243,809 49,371 (11,244) 38,127
Santiago 4,625,404 550,957 4,074,447 1,578,447 1,237,697 340,750 1,080,627 86,482 1,167,109
Tuguegarao 3,727,800 416,256 3,311,544 947,753 758,260 189,493 617,357 (49,672) 567,685
Sub-total 12,032,669 3,385,908 8,646,761 5,080,797 4,215,713 865,083 1,999,473 116,334 2,115,806
107

REGION III
Angeles 5,397,577 2,088,381 3,309,196 2,230,163 1,391,991 838,172 1,267,147 365,146 1,632,293
Balanga 1,445,552 441,515 1,004,037 768,276 550,172 218,104 665,303 (14,371) 650,932
Cabanatuan 5,855,508 2,474,911 3,380,597 1,553,865 1,208,989 344,876 1,453,189 234,191 1,687,380
Gapan 1,341,451 439,100 902,351 624,316 474,763 149,554 232,031 (92,062) 139,969
Mabalacat 1,895,099 372,331 1,522,768 1,591,345 1,319,158 272,188 700,980 105,433 806,413
Malolos 1,242,911 775,390 467,521 1,107,474 961,318 146,156 139,036 31,407 170,442
Meycauyan 3,497,656 821,187 2,676,469 1,333,664 915,830 417,835 809,369 (105,874) 703,495
Olongapo 8,952,641 6,776,847 2,175,794 1,588,216 1,188,523 399,693 467,355 2,320 469,675
Palayan 877,318 168,391 708,927 370,413 291,340 79,073 222,149 38,541 260,690
San Fernando 3,972,353 1,511,548 2,460,806 1,846,605 1,609,590 237,015 1,468,055 (18,273) 1,449,782
San Jose 2,585,561 359,859 2,225,701 781,880 695,590 86,289 196,776 (33,122) 163,654
San Jose Del Monte 3,401,537 1,057,747 2,343,790 1,757,023 1,368,622 388,400 1,196,174 251,425 1,447,600
Science City Of Muñoz 1,596,049 403,351 1,192,697 557,519 382,197 175,322 254,821 (934) 253,887
Tarlac 4,501,925 1,186,569 3,315,356 1,533,144 1,198,032 335,113 710,128 180,207 890,335
Sub-total 46,563,136 18,877,126 27,686,010 17,643,903 13,556,115 4,087,788 9,782,513 944,035 10,726,547

REGION IV-A
Antipolo 8,267,558 2,186,543 6,081,014 3,418,790 2,445,062 973,728 3,204,076 1,114,880 4,318,956
Republic of the Philippines
Financial Profile - Cities
Calendar Year 2018
(in thousand pesos)

Region Financial Position Financial Performance Cash Position


Net Cash
1 2
Cities Assets Liabilities Equity Revenue Expenses Surplus (Deficit) Cash Bal. Beg. Provided by Cash Bal. End
(Used In)
Bacoor 4,902,147 1,512,937 3,389,210 2,054,486 1,742,342 312,144 641,415 28,475 669,890
Batangas 7,567,818 2,170,234 5,397,584 2,641,176 2,171,649 469,527 1,970,844 157,994 2,128,837
Biñan 7,701,113 2,273,626 5,427,487 2,754,451 2,124,834 629,618 801,470 387,462 1,188,932
Cabuyao 4,770,909 1,409,868 3,361,041 2,083,212 1,795,626 287,586 1,483,213 153,355 1,636,568
Calamba 12,605,812 3,179,890 9,425,923 4,280,669 2,879,284 1,401,385 4,870,982 861,781 5,732,762
Cavite 1,604,045 374,850 1,229,195 503,581 387,858 115,723 500,571 117,775 618,345
Dasmariñas 8,699,818 2,273,369 6,426,449 2,730,601 1,780,681 949,920 2,907,313 776,027 3,683,340
Gen. Trias 3,100,661 443,196 2,657,465 1,868,139 1,251,948 616,191 1,329,719 384,419 1,714,138
Imus 3,384,416 627,990 2,756,426 1,821,463 1,466,900 354,563 725,487 (87,651) 637,836
Lipa 4,046,164 1,141,627 2,904,537 1,918,243 1,447,259 470,985 1,234,353 508,158 1,742,511
Lucena 2,248,085 810,510 1,437,575 1,273,753 1,123,869 149,884 522,177 205,565 727,742
San Pablo 2,582,595 344,007 2,238,588 1,217,013 1,005,308 211,705 211,063 139,048 350,111
108

San Pedro 3,720,286 842,131 2,878,155 1,288,360 846,411 441,949 938,282 280,157 1,218,439
Santa Rosa 10,338,206 1,942,324 8,395,882 4,770,967 3,147,781 1,623,186 2,217,834 1,173,253 3,391,086
Tagaytay 6,115,064 1,749,518 4,365,546 1,292,302 881,928 410,374 709,492 164,496 873,987
Tanauan 4,089,119 784,317 3,304,803 1,573,334 1,037,580 535,754 955,336 379,493 1,334,829
Tayabas 2,041,625 286,566 1,755,060 630,273 402,807 227,465 873,971 72,395 946,366
Trece Martirez 2,498,324 1,027,951 1,470,373 768,299 574,523 193,776 615,346 123,419 738,765
Sub-total 100,283,765 25,381,453 74,902,312 38,889,111 28,513,648 10,375,463 26,712,943 6,940,499 33,653,442

REGION IV-B
Calapan 1,227,062 304,407 922,655 1,015,640 909,875 105,765 406,929 (94,882) 312,047
Puerto Princesa 8,918,902 2,054,267 6,864,636 3,213,404 1,968,735 1,244,669 2,656,699 429,399 3,086,098
Sub-total 10,145,964 2,358,673 7,787,291 4,229,044 2,878,610 1,350,434 3,063,628 334,517 3,398,145

REGION V
Iriga 973,892 401,736 572,155 583,282 478,107 105,176 93,089 75,241 168,330
Legaspi 2,369,035 422,845 1,946,190 1,197,520 889,190 308,331 690,322 176,846 867,168
Ligao 2,538,582 311,008 2,227,575 650,341 374,492 275,849 680,501 (124,847) 555,654
Masbate 1,303,487 410,622 892,864 575,011 461,113 113,898 207,374 (15,422) 191,952
Naga 5,074,372 735,017 4,339,355 1,270,459 1,062,101 208,358 1,166,710 61,323 1,228,033
Sorsogon 1,662,099 666,984 995,115 843,129 734,621 108,508 341,345 (43,340) 298,005
Republic of the Philippines
Financial Profile - Cities
Calendar Year 2018
(in thousand pesos)

Region Financial Position Financial Performance Cash Position


Net Cash
1 2
Cities Assets Liabilities Equity Revenue Expenses Surplus (Deficit) Cash Bal. Beg. Provided by Cash Bal. End
(Used In)
Tabaco 1,918,906 289,105 1,629,801 612,423 443,511 168,912 974,169 95,808 1,069,977
Sub-total 15,840,373 3,237,318 12,603,055 5,732,167 4,443,135 1,289,032 4,153,512 225,608 4,379,119

REGION VI
Iloilo 7,263,183 1,997,111 5,266,071 2,889,850 2,186,561 703,289 2,777,568 631,743 3,409,311
Passi 2,463,003 1,101,547 1,361,456 693,684 529,920 163,764 684,356 28,779 713,136
Roxas 1,836,608 314,689 1,521,919 880,672 690,993 189,679 593,377 (99,149) 494,227
Sub-total 11,562,793 3,413,348 8,149,446 4,464,206 3,407,474 1,056,731 4,055,301 561,373 4,616,674

REGION VII
Bogo 1,397,153 391,958 1,005,195 547,104 378,732 168,372 383,405 38,725 422,129
Carcar 2,464,031 960,009 1,504,022 581,705 360,499 221,206 804,506 (73,771) 730,735
109

Cebu 33,884,374 24,496,893 9,387,481 6,743,876 6,387,675 356,201 1,617,561 353,181 1,970,742
Danao 2,045,676 451,286 1,594,390 787,770 596,907 190,863 595,237 29,453 624,690
Lapu-Lapu 8,157,102 3,061,844 5,095,258 2,430,642 1,755,816 674,826 2,495,724 715,912 3,211,636
Mandaue 10,348,961 4,779,203 5,569,758 2,431,094 1,722,181 708,913 2,242,702 268,063 2,510,765
Naga 4,678,859 2,421,599 2,257,260 820,286 564,104 256,182 854,137 144,042 998,180
Tagbilaran 2,285,219 347,648 1,937,571 824,295 635,239 189,056 894,817 39,528 934,344
Talisay 2,312,066 483,554 1,828,512 954,798 924,504 30,294 610,578 (96,647) 513,931
Toledo 5,031,073 902,658 4,128,415 1,188,737 932,818 255,919 2,225,226 296,881 2,522,108
Sub-total 72,604,515 38,296,653 34,307,862 17,310,307 14,258,475 3,051,831 12,723,892 1,715,368 14,439,260

REGION VIII
Baybay 2,283,000 478,201 1,804,799 858,346 505,096 353,250 686,014 24,923 710,937
Borongan 1,426,878 208,919 1,217,959 715,100 369,880 345,220 553,001 (20,224) 532,777
Calbayog 2,967,793 742,417 2,225,376 1,309,176 843,053 466,122 226,696 196,168 422,864
Catbalogan 1,297,329 356,737 940,593 689,148 482,197 206,950 395,857 121,389 517,246
Maasin 2,205,255 219,150 1,986,104 615,329 324,453 290,877 1,016,205 150,446 1,166,651
Ormoc 6,199,958 687,526 5,512,432 1,452,177 1,230,802 221,375 1,911,276 241,779 2,153,054
Tacloban 3,490,947 1,406,395 2,084,552 1,203,423 1,161,085 42,338 465,375 78,746 544,121
Sub-total 19,871,160 4,099,345 15,771,815 6,842,698 4,916,566 1,926,132 5,254,424 793,226 6,047,650
Republic of the Philippines
Financial Profile - Cities
Calendar Year 2018
(in thousand pesos)

Region Financial Position Financial Performance Cash Position


Net Cash
1 2
Cities Assets Liabilities Equity Revenue Expenses Surplus (Deficit) Cash Bal. Beg. Provided by Cash Bal. End
(Used In)

REGION IX
Dapitan 1,380,941 356,314 1,024,627 680,341 640,685 39,656 356,318 (46,407) 309,911
Dipolog 4,265,277 1,636,796 2,628,481 1,043,361 650,414 392,947 590,413 225,987 816,400
Pagadian 2,514,164 1,105,927 1,408,237 1,069,595 800,990 268,605 603,481 31,339 634,820
Zamboanga 11,686,218 1,280,851 10,405,367 3,585,748 2,017,237 1,568,511 5,264,734 1,011,114 6,275,847
Sub-total 19,846,600 4,379,887 15,466,712 6,379,046 4,109,327 2,269,719 6,814,945 1,222,032 8,036,977

REGION X
Cagayan De Oro 10,914,012 3,088,682 7,825,330 3,613,235 2,696,881 916,353 1,568,300 (241,707) 1,326,593
El Salvador 1,248,336 387,248 861,088 439,379 331,784 107,596 293,880 19,593 313,473
Gingoog 3,111,283 983,788 2,127,495 957,593 718,634 238,959 1,390,428 135,036 1,525,464
110

Iligan 9,945,320 5,981,772 3,963,547 2,109,464 1,490,311 619,154 2,353,561 321,421 2,674,982
Malaybalay 4,111,946 848,297 3,263,649 1,372,303 1,049,029 323,273 931,362 (107,946) 823,417
Oroquieta 1,845,128 489,929 1,355,200 580,102 445,551 134,551 216,257 168,628 384,885
Ozamiz 1,914,071 353,387 1,560,683 805,575 610,008 195,567 171,240 37,429 208,669
Tangub 1,341,329 323,307 1,018,022 501,786 378,516 123,270 296,837 78,072 374,909
Valencia 1,909,369 1,071,057 838,313 1,180,805 1,103,929 76,876 455,186 38,158 493,344
Sub-total 36,340,794 13,527,467 22,813,327 11,560,242 8,824,643 2,735,599 7,677,050 448,684 8,125,734

REGION XI
Davao 16,258,953 3,995,020 12,263,933 9,539,269 7,274,041 2,265,227 5,255,330 2,674,954 7,930,283
Digos 1,972,007 958,927 1,013,080 980,719 851,574 129,145 687,547 218,288 905,835
Island Garden City of Samal 1,757,575 497,076 1,260,500 785,839 667,199 118,640 425,674 (1,961) 423,713
Mati 1,410,236 546,848 863,387 1,008,760 871,385 137,375 197,214 20,595 217,808
Panabo 2,935,326 540,241 2,395,085 1,139,537 750,152 389,385 620,513 148,923 769,436
Tagum 4,114,080 1,212,576 2,901,503 1,553,835 1,335,590 218,245 537,754 197,002 734,755
Sub-total 28,448,176 7,750,688 20,697,488 15,007,958 11,749,941 3,258,017 7,724,031 3,257,801 10,981,831

REGION XII
Cotabato 1,905,568 768,695 1,136,873 955,573 951,742 3,831 147,448 (93,903) 53,545
General Santos 7,671,507 1,684,843 5,986,664 2,459,222 1,942,713 516,509 3,359,305 432,344 3,791,649
Republic of the Philippines
Financial Profile - Cities
Calendar Year 2018
(in thousand pesos)

Region Financial Position Financial Performance Cash Position


Net Cash
1 2
Cities Assets Liabilities Equity Revenue Expenses Surplus (Deficit) Cash Bal. Beg. Provided by Cash Bal. End
(Used In)
Kidapawan 1,279,218 455,039 824,179 907,069 798,282 108,787 530,163 (44,199) 485,964
Koronadal 2,205,382 343,968 1,861,415 918,742 797,756 120,986 597,996 (37,130) 560,866
Tacurong 1,377,270 196,325 1,180,945 608,475 515,834 92,641 383,046 94,762 477,808
Sub-total 14,438,947 3,448,871 10,990,076 5,849,081 5,006,327 842,753 5,017,957 351,874 5,369,832

REGION XIII
Bayugan 3,179,893 320,992 2,858,900 998,991 495,565 503,427 933,645 134,958 1,068,603
Bislig 1,806,960 581,571 1,225,389 684,635 598,686 85,949 248,453 45,469 293,921
Butuan 6,979,633 1,085,609 5,894,024 2,194,697 1,255,164 939,533 1,777,056 431,335 2,208,391
Cabadbaran 1,888,101 292,181 1,595,920 731,467 491,393 240,073 747,515 142,414 889,929
Surigao 1,526,018 417,819 1,108,199 979,995 865,211 114,784 427,242 (45,237) 382,006
Tandag 1,367,862 358,809 1,009,053 649,144 521,269 127,875 340,560 238,331 578,892
111

Sub-total 16,748,465 3,056,981 13,691,485 6,238,929 4,227,289 2,011,640 4,474,471 947,270 5,421,741

SUB-REGION XVI
Bacolod 5,138,397 1,316,353 3,822,044 2,322,672 2,012,937 309,735 1,044,175 (197,885) 846,291
Bago 2,451,550 703,435 1,748,115 975,733 815,028 160,706 590,776 (1,613) 589,163
Bais 2,707,595 548,360 2,159,235 658,184 400,699 257,485 856,735 204,675 1,061,410
Bayawan 2,963,337 1,098,900 1,864,437 993,281 777,863 215,418 1,059,333 (23,927) 1,035,406
Cadiz 3,128,268 1,134,473 1,993,795 1,078,026 800,619 277,407 435,607 226,620 662,227
Canlaon 1,301,914 195,654 1,106,261 484,474 356,714 127,761 229,485 52,870 282,355
Dumaguete 2,767,575 628,736 2,138,839 855,903 574,944 280,958 802,032 163,557 965,590
Escalante 1,689,387 666,611 1,022,776 553,600 477,017 76,583 251,013 6,368 257,381
Guihulngan 2,216,041 451,544 1,764,497 720,823 493,524 227,299 1,089,540 163,035 1,252,575
Himamaylan 2,228,935 654,254 1,574,681 705,887 498,441 207,446 346,736 55,309 402,045
Kabankalan 4,084,381 954,701 3,129,680 1,185,263 778,082 407,180 1,314,204 193,536 1,507,740
La Carlota 1,417,427 402,842 1,014,585 550,502 473,344 77,159 302,509 34,645 337,155
Sagay 2,192,149 990,393 1,201,756 958,581 776,457 182,124 250,026 (6,271) 243,755
San Carlos 3,242,537 628,858 2,613,679 1,371,302 979,953 391,349 828,411 179,535 1,007,946
Silay 1,127,575 559,901 567,674 718,531 674,116 44,415 263,740 (10,397) 253,343
Sipalay 1,746,625 523,694 1,222,931 624,259 470,364 153,895 196,540 (2,422) 194,118
Talisay 1,878,639 642,082 1,236,557 729,667 616,383 113,284 713,749 (12,343) 701,406
Republic of the Philippines
Financial Profile - Cities
Calendar Year 2018
(in thousand pesos)

Region Financial Position Financial Performance Cash Position


Net Cash
1 2
Cities Assets Liabilities Equity Revenue Expenses Surplus (Deficit) Cash Bal. Beg. Provided by Cash Bal. End
(Used In)
Tanjay 1,930,372 259,519 1,670,853 597,234 464,219 133,015 710,426 (41,132) 669,294
Victorias 2,045,332 667,188 1,378,145 606,580 528,520 78,060 731,033 67,876 798,908
Sub-total 46,258,037 13,027,500 33,230,537 16,690,503 12,969,224 3,721,280 12,016,070 1,052,035 13,068,104

ARMM
Isabela 1,135,678 166,757 968,921 572,772 476,660 96,112 197,178 73,005 270,183
Lamitan 1,592,839 1,029,792 563,047 540,609 440,256 100,353 198,120 9,273 207,393
Marawi 2,031,924 775,597 1,256,326 662,177 482,862 179,315 148,955 50,041 198,997
Sub-total 4,760,440 1,972,147 2,788,294 1,775,558 1,399,778 375,780 544,254 132,319 676,573
GRANDTOTAL 1,009,529,593 261,839,137 747,690,457 295,191,625 223,698,280 71,493,344 204,158,965 33,465,142 237,624,107
1 Revenue data includes Transfers from, Assistance from, Subsidy from and Other Non-Operating Income
2 Expenses data includes Transfers to, Assistance to, Subsidy to and Losses
112
Municipalities
Republic of the Philippines
Financial Profile - Municipalities
Calendar Year 2018
(in thousand pesos)

Region Financial Condition Financial Performance Cash Position


1 2 Net Cash
Municipalities Assets Liabilities Equity Revenue Expenses Surplus/ (Deficit) Provided by
Cash Bal. Beg. (Used In) Cash Bal. End

NCR

1 Pateros 437,221 172,708 264,514 234,065 232,388 1,677 205,086 (5,446) 199,640
Total 437,221 172,708 264,514 234,065 232,388 1,677 205,086 (5,446) 199,640

CAR

Abra
1 Baay-Licuan - - - - - - - - -
2 Bangued 353,733 66,086 287,647 283,071 293,179 (10,108) 139,335 (109,345) 29,990
3 Boliney - - - - - - - - -
4 Bucay 231,767 56,050 175,717 106,128 71,649 34,479 13,031 8,240 21,270
5 Bucloc - - - - - - - - -
113

6 Daguioman 171,245 19,088 152,157 116,995 40,353 76,641 10,639 28,072 38,711
7 Danglas 201,296 117,144 84,153 88,836 52,032 36,804 20,680 24,347 45,026
8 Dolores 302,173 157,143 145,030 111,692 77,255 34,437 9,724 102,753 112,477
9 La Paz 219,202 100,293 118,908 90,533 56,522 34,010 10,351 67,496 77,847
10 Lacub 173,689 75,422 98,266 106,898 78,377 28,521 5,422 31,931 37,352
11 Lagangilang 207,274 52,749 154,525 99,231 64,014 35,217 1,014 758 1,771
12 Lagayan 165,940 77,033 88,907 95,357 53,604 41,752 16,140 34,501 50,641
13 Langiden 129,379 18,891 110,488 79,948 51,505 28,443 19,671 (11,072) 8,599
14 Luba 407,974 63,872 344,103 68,007 65,645 2,362 211,339 (108,313) 103,026
15 Malibcong - - - - - - - - -
16 Manabo 165,193 21,392 143,801 93,883 54,221 39,662 9,272 21,034 30,305
17 Peñarrubia - - - - - - - - -
18 Pidigan - - - - - - - - -
19 Pilar 334,503 12,969 321,534 60,434 58,837 1,597 36,683 (12,912) 23,772
20 Sal-lapadan 174,586 31,536 143,050 122,538 48,095 74,443 6,005 9,499 15,503
21 San Isidro - - - - - - - - -
22 San Juan 230,460 50,948 179,512 91,286 64,102 27,183 9,273 5,493 14,766
23 San Quintin 283,485 34,001 249,484 50,136 57,471 (7,335) 117,694 (70,181) 47,513
24 Tayum 384,485 52,964 331,520 208,193 54,807 153,386 12,301 (3,500) 8,801
25 Tineg - - - - - - - - -
26 Tubo 238,306 25,398 212,907 133,847 87,230 46,616 23,608 20,433 44,041
27 Villaviciosa 515,382 33,271 482,111 78,817 125,667 (46,851) 350,406 (210,718) 139,688
Sub-Total 4,890,071 1,066,250 3,823,821 2,085,828 1,454,567 631,261 1,022,587 (171,486) 851,101
Republic of the Philippines
Financial Profile - Municipalities
Calendar Year 2018
(in thousand pesos)

Region Financial Condition Financial Performance Cash Position


1 2 Net Cash
Municipalities Assets Liabilities Equity Revenue Expenses Surplus/ (Deficit) Provided by
Cash Bal. Beg. (Used In) Cash Bal. End

Apayao
1 Calanasan 580,155 151,866 428,289 238,284 178,778 59,506 229,896 71,645 301,541
2 Conner 315,322 44,832 270,490 178,529 139,897 38,632 67,205 26,615 93,820
3 Flora 288,351 120,230 168,121 116,400 94,667 21,733 89,682 15,941 105,623
4 Kabugao 343,909 93,482 250,428 194,991 116,757 78,234 35,754 37,551 73,305
5 Luna 302,494 32,242 270,252 159,364 115,821 43,543 153,646 (4,577) 149,069
6 Pudtol 226,714 85,675 141,039 108,277 85,265 23,012 97,863 4,308 102,171
7 Sta. Marcela 150,624 43,196 107,428 86,033 74,083 11,950 45,280 (1,224) 44,056
Sub-Total 2,207,569 571,523 1,636,046 1,081,878 805,268 276,609 719,327 150,258 869,585

Benguet
1 Atok 256,547 52,993 203,553 98,130 69,700 28,431 123,102 25,323 148,425
2 Bakun 200,869 32,724 168,145 112,858 79,689 33,169 66,578 (11,808) 54,770
114

3 Bokod 439,862 94,834 345,028 151,517 118,992 32,525 242,956 (4,951) 238,006
4 Buguias 243,131 68,383 174,748 137,576 96,111 41,465 79,948 22,028 101,976
5 Itogon 865,979 450,162 415,818 291,217 185,264 105,953 163,938 129,784 293,722
6 Kabayan 177,783 57,030 120,753 96,969 71,745 25,224 79,981 7,379 87,360
7 Kapangan 217,302 42,535 174,767 106,419 94,352 12,067 61,335 2,978 64,313
8 Kibungan 166,086 50,136 115,950 101,936 86,580 15,356 71,028 (5,934) 65,095
9 La Trinidad 825,702 179,400 646,302 517,980 333,299 184,681 447,882 126,056 573,938
10 Mankayan 274,376 71,273 203,103 126,413 114,500 11,913 200,917 10,003 210,920
11 Sablan 169,350 40,200 129,149 74,721 62,211 12,509 63,035 (1,786) 61,249
12 Tuba 450,101 59,560 390,541 195,331 143,209 52,122 148,270 7,852 156,122
13 Tublay 158,054 37,858 120,197 82,145 63,780 18,365 54,854 5,583 60,437
Sub-Total 4,445,143 1,237,089 3,208,055 2,093,211 1,519,432 573,779 1,803,825 312,506 2,116,331

Ifugao
1 Aguinaldo 282,642 31,646 250,996 143,194 113,164 30,030 153,291 (32,590) 120,701
2 Alfonso Lista 319,857 79,742 240,115 206,066 169,220 36,846 96,089 21,159 117,248
3 Asipulo 203,283 21,792 181,490 104,754 68,205 36,549 45,677 (24,077) 21,599
4 Banaue 215,840 78,327 137,512 98,252 78,440 19,812 73,026 20,200 93,226
5 Hingyon 142,241 24,640 117,601 54,633 47,749 6,884 34,529 12,259 46,788
6 Hungduan 213,399 48,218 165,181 96,555 77,250 19,305 68,465 9,521 77,986
7 Kiangan 210,264 48,298 161,966 91,633 92,699 (1,066) 64,468 8,435 72,903
8 Lagawe 184,010 33,122 150,888 106,325 90,511 15,814 37,553 (1,152) 36,401
Republic of the Philippines
Financial Profile - Municipalities
Calendar Year 2018
(in thousand pesos)

Region Financial Condition Financial Performance Cash Position


1 2 Net Cash
Municipalities Assets Liabilities Equity Revenue Expenses Surplus/ (Deficit) Provided by
Cash Bal. Beg. (Used In) Cash Bal. End
9 Lamut 270,250 36,703 233,547 106,285 85,185 21,100 76,048 4,574 80,622
10 Mayoyao 216,786 45,576 171,210 95,636 82,010 13,626 62,302 6,047 68,349
11 Tinoc 243,792 60,877 182,915 94,366 72,302 22,064 82,977 (15,202) 67,775
Sub-Total 2,502,363 508,941 1,993,422 1,197,699 976,735 220,964 794,426 9,174 803,600

Kalinga
1 Balbalan 361,765 95,833 265,932 133,887 95,887 37,999 123,756 22,635 146,391
2 Lubuagan 229,455 79,552 149,903 99,503 63,665 35,839 115,175 (16,074) 99,100
3 Pasil 58,018 24,188 33,830 75,019 65,564 9,455 37,161 2,119 39,279
4 Pinukpuk 450,440 78,110 372,330 190,996 105,805 85,192 221,721 17,360 239,081
5 Rizal 218,038 88,774 129,265 97,436 69,634 27,802 66,516 13,743 80,259
6 Tanudan 217,136 25,869 191,266 91,713 75,256 16,456 39,320 (11,076) 28,243
7 Tinglayan 129,640 41,295 88,345 92,879 79,656 13,223 71,354 4,303 75,656
Sub-Total 1,664,492 433,622 1,230,870 781,433 555,467 225,966 675,002 33,008 708,010
115

Mt. Province
1 Barlig 166,146 31,680 134,466 74,129 60,221 13,908 74,454 (1,930) 72,524
2 Bauko 121,576 45,411 76,165 155,496 152,655 2,841 49,316 7,370 56,686
3 Besao 224,369 24,685 199,684 69,655 50,958 18,697 42,428 13,734 56,163
4 Bontoc 344,239 177,401 166,838 157,042 129,379 27,663 131,080 11,144 142,224
5 Natonin 74,067 29,286 44,781 87,400 85,194 2,207 37,072 5,193 42,266
6 Paracelis 210,303 62,422 147,881 169,641 153,364 16,277 103,723 12,156 115,879
7 Sabangan 232,122 109,465 122,656 72,644 53,934 18,710 69,889 29,964 99,853
8 Sadanga 142,082 28,709 113,372 62,168 51,040 11,127 69,458 (4,126) 65,333
9 Sagada 131,628 35,292 96,336 73,005 60,478 12,526 89,857 2,697 92,554
10 Tadian 131,210 38,134 93,077 91,324 82,340 8,984 61,141 (7,222) 53,918
Sub-Total 1,777,742 582,486 1,195,256 1,012,504 879,563 132,941 728,419 68,981 797,401
REGIONAL TOTAL 17,487,381 4,399,911 13,087,470 8,252,553 6,191,032 2,061,520 5,743,586 402,442 6,146,028

Region I

Ilocos Norte
1 Adams 229,163 64,184 164,979 83,923 58,171 25,753 56,519 563 57,083
2 Bacarra 309,747 67,334 242,413 177,465 113,739 63,726 62,106 37,860 99,966
3 Badoc 700,746 93,754 606,992 370,543 111,938 258,605 91,728 115,020 206,748
4 Bangui 381,955 110,775 271,180 138,755 86,834 51,921 160,902 41,865 202,767
5 Banna 509,154 98,372 410,782 206,887 82,091 124,796 125,119 110,616 235,735
Republic of the Philippines
Financial Profile - Municipalities
Calendar Year 2018
(in thousand pesos)

Region Financial Condition Financial Performance Cash Position


1 2 Net Cash
Municipalities Assets Liabilities Equity Revenue Expenses Surplus/ (Deficit) Provided by
Cash Bal. Beg. (Used In) Cash Bal. End
6 Burgos 653,763 296,245 357,518 187,545 91,973 95,571 306,434 18,422 324,856
7 Carasi 162,108 29,763 132,345 72,010 36,060 35,950 51,303 20,566 71,869
8 Currimao 516,101 145,009 371,092 205,449 69,491 135,958 61,567 176,049 237,616
9 Dingras 525,284 191,175 334,108 247,719 109,894 137,825 67,580 116,477 184,057
10 Dumalneg 156,256 24,602 131,654 75,881 43,053 32,828 43,061 20,586 63,647
11 Marcos 524,671 120,143 404,528 213,854 54,170 159,684 91,351 90,022 181,373
12 Nueva Era 679,584 221,958 457,626 196,404 102,928 93,476 140,834 13,693 154,527
13 Pagudpud 562,409 158,953 403,456 154,382 64,402 89,980 336,557 (17,923) 318,634
14 Paoay 454,758 204,919 249,838 155,848 70,358 85,490 102,359 84,601 186,960
15 Pasuquin 479,796 149,296 330,500 184,497 90,514 93,984 92,942 25,034 117,976
16 Piddig 402,395 188,300 214,095 105,879 95,061 10,818 88,036 (29,323) 58,713
17 Pinili 789,187 48,267 740,920 503,343 91,917 411,425 88,414 355,150 443,565
18 San Nicolas 785,919 161,587 624,331 224,524 135,917 88,608 276,337 36,050 312,386
19 Sarrat 457,950 60,461 397,488 164,948 76,686 88,262 140,501 (6,586) 133,914
116

20 Solsona 438,846 108,222 330,624 154,696 95,372 59,324 135,627 19,545 155,172
21 Vintar 565,019 106,965 458,053 294,171 148,484 145,687 129,801 109,664 239,465
Sub-Total 10,284,811 2,650,287 7,634,523 4,118,724 1,829,052 2,289,672 2,649,079 1,337,951 3,987,029

Ilocos Sur
1 Alilem 355,722 82,406 273,316 150,290 52,648 97,642 130,518 59,761 190,279
2 Banayoyo 834,808 95,457 739,351 480,156 47,286 432,869 141,947 335,156 477,103
3 Bantay 602,447 65,392 537,055 227,410 105,766 121,644 48,222 41,702 89,924
4 Burgos 961,046 30,299 930,747 589,313 105,109 484,204 204,029 392,270 596,299
5 Cabugao 1,235,869 157,339 1,078,529 664,088 268,792 395,296 165,654 248,460 414,114
6 Caoayan 376,969 70,314 306,656 206,242 64,489 141,753 40,518 (5,283) 35,234
7 Cervantes 450,564 111,372 339,191 204,167 85,904 118,263 29,619 41,669 71,288
8 G. Del Pilar 567,488 33,898 533,590 332,100 43,527 288,573 71,522 221,564 293,086
9 Galimuyod 642,883 31,773 611,110 433,944 92,851 341,093 106,849 223,190 330,039
10 Lidlidda 557,738 68,303 489,434 291,960 46,020 245,940 90,656 185,857 276,514
11 Magsingal 1,058,717 152,787 905,930 497,096 93,461 403,635 46,791 126,720 173,511
12 Nagbukel 473,880 21,537 452,344 315,564 63,497 252,067 63,146 183,305 246,451
13 Narvacan 1,591,301 167,679 1,423,622 191,167 203,621 (12,455) 591,301 (239,930) 351,371
14 Quirino 516,263 106,120 410,143 181,266 75,572 105,695 58,322 53,211 111,534
15 Salcedo 1,028,584 153,060 875,523 592,431 92,396 500,035 180,476 469,672 650,147
16 San Emilio 957,838 99,532 858,306 599,563 63,613 535,950 122,870 362,595 485,465
17 San Esteban 653,893 65,400 588,493 81,947 86,003 (4,056) 270,097 (62,524) 207,573
Republic of the Philippines
Financial Profile - Municipalities
Calendar Year 2018
(in thousand pesos)

Region Financial Condition Financial Performance Cash Position


1 2 Net Cash
Municipalities Assets Liabilities Equity Revenue Expenses Surplus/ (Deficit) Provided by
Cash Bal. Beg. (Used In) Cash Bal. End
18 San Ildefonso 376,932 35,218 341,713 170,200 48,745 121,455 55,184 58,454 113,638
19 San Juan 1,031,967 108,882 923,085 665,871 316,033 349,838 192,133 282,439 474,572
20 San Vicente 113,546 23,587 89,959 150,763 52,268 98,495 20,531 20,056 40,587
21 Santa 375,244 42,319 332,924 167,928 70,315 97,613 30,706 33,144 63,850
22 Santiago 997,598 52,848 944,750 596,757 77,266 519,491 52,631 188,854 241,485
23 Sigay 670,763 43,630 627,133 377,187 47,284 329,903 113,827 286,700 400,528
24 Sinait 1,108,223 99,292 1,008,931 528,979 107,133 421,846 253,289 303,460 556,749
25 Sta. Catalina 227,298 58,633 168,665 113,674 53,487 60,187 44,459 81,063 125,522
26 Sta. Cruz 1,382,619 148,789 1,233,830 843,976 210,212 633,764 181,980 510,634 692,614
27 Sta. Lucia 771,732 57,805 713,927 428,127 108,278 319,849 133,644 265,591 399,235
28 Sta. Maria 1,488,472 129,867 1,358,605 656,606 91,561 565,045 242,165 397,954 640,119
29 Sto. Domingo 774,467 66,041 708,426 416,194 106,285 309,909 80,091 182,303 262,394
30 Sugpon 300,973 48,013 252,960 153,538 37,779 115,759 112,993 79,786 192,779
31 Suyo 365,388 64,915 300,473 170,259 85,993 84,266 45,835 38,232 84,067
117

32 Tagudin 493,092 50,662 442,430 341,841 176,368 165,473 61,582 122,534 184,116
Sub-Total 23,344,322 2,543,168 20,801,155 11,820,603 3,179,562 8,641,041 3,983,589 5,488,599 9,472,188

La Union
1 Agoo 1,068,833 211,783 857,050 376,590 239,706 136,884 194,715 61,135 255,850
2 Aringay 397,480 54,214 343,266 242,609 136,282 106,328 77,916 47,564 125,480
3 Bacnotan 838,138 163,990 674,149 168,124 135,829 32,295 199,760 (21,017) 178,743
4 Baguilin 171,251 31,979 139,272 100,649 56,785 43,864 60,582 27,785 88,367
5 Balaoan 983,695 85,023 898,672 908,292 260,769 647,524 200,157 541,488 741,645
6 Bangar 698,723 78,690 620,033 311,472 90,434 221,038 118,337 169,560 287,897
7 Bauang 871,490 189,589 681,901 390,022 258,314 131,708 226,133 57,213 283,346
8 Burgos 174,992 20,743 154,249 61,513 60,829 684 52,709 (9,602) 43,107
9 Caba 284,970 32,531 252,438 166,645 72,656 93,990 31,234 4,856 36,089
10 Luna 241,478 35,733 205,746 146,300 85,914 60,386 90,602 28,236 118,838
11 Naguilian 655,926 222,768 433,158 175,483 124,354 51,129 114,654 40,035 154,689
12 Pugo 344,605 62,503 282,102 109,919 53,420 56,499 89,662 46,206 135,867
13 Rosario 319,164 105,858 213,306 260,519 216,988 43,531 94,386 38,462 132,849
14 San Gabriel 364,539 60,552 303,987 161,674 69,545 92,129 81,525 76,121 157,645
15 San Juan 756,587 152,386 604,200 294,550 140,972 153,578 132,515 123,566 256,081
16 Santo Tomas 643,353 72,497 570,856 200,791 80,098 120,693 143,726 81,098 224,825
17 Santol 408,301 29,739 378,562 73,599 66,093 7,506 171,283 (127,920) 43,363
18 Sudipen 232,113 87,205 144,908 260,594 192,191 68,403 75,986 90,172 166,158
Republic of the Philippines
Financial Profile - Municipalities
Calendar Year 2018
(in thousand pesos)

Region Financial Condition Financial Performance Cash Position


1 2 Net Cash
Municipalities Assets Liabilities Equity Revenue Expenses Surplus/ (Deficit) Provided by
Cash Bal. Beg. (Used In) Cash Bal. End
19 Tubao 139,135 28,156 110,979 161,855 145,017 16,838 24,935 (6) 24,929
Sub-Total 9,594,773 1,725,939 7,868,833 4,571,201 2,486,195 2,085,006 2,180,817 1,274,950 3,455,766

Pangasinan
1 Agno 282,255 61,500 220,755 111,172 83,472 27,700 63,880 2,207 66,087
2 Aguilar 366,434 40,997 325,437 137,073 119,765 17,307 75,615 20,411 96,026
3 Alcala 350,014 21,939 328,075 213,595 123,636 89,959 30,849 39,674 70,523
4 Anda 293,834 53,993 239,841 123,105 96,493 26,612 64,594 12,313 76,908
5 Asingan 343,183 87,942 255,241 151,470 126,944 24,526 83,370 4,612 87,982
6 Balungao 326,879 41,987 284,892 112,547 96,261 16,285 47,404 29,835 77,238
7 Bani 228,762 69,922 158,840 156,955 145,129 11,825 72,414 (68) 72,346
8 Basista 95,646 9,639 86,007 93,901 79,699 14,202 29,491 (1,891) 27,600
9 Bautista 178,707 25,756 152,950 92,748 86,097 6,651 26,559 11,260 37,818
10 Bayambang 652,510 206,878 445,632 396,215 322,553 73,663 82,252 (11,857) 70,395
118

11 Binalonan 610,179 127,916 482,264 207,618 161,656 45,962 128,632 48,131 176,763
12 Binmaley 519,367 155,937 363,429 202,997 151,598 51,399 87,490 (9,653) 77,837
13 Bolinao 638,925 202,325 436,600 274,247 202,423 71,824 245,047 123,358 368,405
14 Bugallon 257,789 75,030 182,759 187,236 153,825 33,412 47,768 1,259 49,027
15 Burgos 236,075 45,492 190,583 99,054 78,104 20,950 40,572 10,939 51,511
16 Calasiao 538,058 96,615 441,442 289,746 221,037 68,710 60,480 (15,832) 44,648
17 Dasol 386,340 98,033 288,307 114,738 92,837 21,901 115,642 (7,592) 108,050
18 Infanta 300,941 107,085 193,856 123,065 101,437 21,628 38,874 (9,144) 29,731
19 Labrador 232,690 28,954 203,736 88,508 68,766 19,742 37,104 819 37,923
20 Laoac 446,977 52,039 394,938 150,217 82,726 67,491 61,036 33,963 94,998
21 Lingayen 457,977 59,919 398,058 333,263 272,497 60,766 91,670 (14,498) 77,172
22 Mabini 181,909 42,288 139,621 124,187 119,000 5,187 27,307 4,561 31,868
23 Malasiqui 573,925 103,125 470,800 315,099 250,710 64,389 132,911 (18,628) 114,283
24 Manaoag 458,468 82,944 375,524 200,617 131,278 69,339 97,861 19,208 117,069
25 Mangaldan 570,148 89,824 480,324 274,182 233,468 40,715 149,339 (46,515) 102,824
26 Mangatarem 487,891 143,251 344,639 215,229 161,607 53,622 136,514 28,761 165,275
27 Mapandan 292,959 60,247 232,712 106,699 97,514 9,185 28,173 18,397 46,570
28 Natividad 229,845 82,519 147,326 95,205 68,751 26,455 35,644 (188) 35,457
29 Pozorrubio 764,385 56,300 708,085 215,583 167,790 47,792 188,709 49,662 238,371
30 Rosales 896,706 52,261 844,446 241,475 220,691 20,784 62,792 10,704 73,495
31 San Fabian 151,460 37,825 113,635 198,013 193,628 4,385 38,632 4,273 42,904
32 San Jacinto 213,738 64,002 149,736 122,323 88,595 33,728 123,542 26,473 150,015
Republic of the Philippines
Financial Profile - Municipalities
Calendar Year 2018
(in thousand pesos)

Region Financial Condition Financial Performance Cash Position


1 2 Net Cash
Municipalities Assets Liabilities Equity Revenue Expenses Surplus/ (Deficit) Provided by
Cash Bal. Beg. (Used In) Cash Bal. End
33 San Manuel 460,464 153,336 307,128 197,694 175,909 21,784 39,444 7,051 46,495
34 San Nicolas 202,604 82,382 120,222 144,634 138,049 6,585 18,017 8,246 26,264
35 San Quintin 166,022 34,993 131,029 112,511 104,221 8,290 54,677 4,351 59,028
36 Sison 566,918 153,703 413,214 160,091 103,727 56,364 133,985 59,477 193,463
37 Sta. Barbara 660,533 194,478 466,055 230,703 188,690 42,013 122,659 33,218 155,877
38 Sta. Maria 304,130 21,823 282,307 123,774 86,041 37,733 40,268 7,216 47,484
39 Sto. Tomas 198,867 35,025 163,842 63,485 57,864 5,621 41,512 (1,962) 39,550
40 Sual 2,804,897 1,734,813 1,070,084 336,444 183,382 153,061 233,350 40,545 273,895
41 Tayug 205,554 31,869 173,685 149,929 124,271 25,657 73,798 7,512 81,310
42 Umingan 340,808 55,812 284,996 272,838 190,496 82,341 73,473 (18,951) 54,522
43 Urbiztondo 244,644 73,464 171,180 134,493 97,236 37,257 51,625 (14,102) 37,524
44 Villasis 663,622 64,992 598,630 247,969 181,185 66,784 90,522 13,794 104,315
Sub-total 19,384,040 5,121,176 14,262,864 7,942,645 6,231,059 1,711,587 3,525,499 511,349 4,036,848
REGIONAL TOTAL 62,607,946 12,040,571 50,567,375 28,453,174 13,725,868 14,727,306 12,338,984 8,612,848 20,951,832
119

Region II

Batanes
1 Basco 140,161 68,337 71,824 69,783 56,438 13,345 76,167 12,940 89,107
2 Itbayat 84,599 52,464 32,135 50,560 42,744 7,817 50,046 5,886 55,932
3 Ivana 85,819 54,211 31,608 38,562 38,768 (205) 23,201 36,434 59,635
4 Mahatao 70,155 31,767 38,387 32,376 31,853 523 42,313 2,311 44,624
5 Sabtang 85,746 59,654 26,091 49,932 46,889 3,043 35,654 7,169 42,823
6 Uyugan 58,733 32,387 26,346 36,744 30,980 5,764 48,428 (8,459) 39,969
Sub-Total 525,211 298,820 226,391 277,958 247,672 30,286 275,809 56,282 332,090

Cagayan
1 Abulug 374,929 114,169 260,760 118,939 103,478 15,461 51,834 6,604 58,438
2 Alcala 275,238 94,222 181,016 124,639 107,344 17,295 57,622 41,663 99,285
3 Allacapan 313,973 38,107 275,866 143,189 117,904 25,285 83,839 (21,907) 61,933
4 Amulung 631,284 204,135 427,150 147,710 136,470 11,240 309,731 56,377 366,109
5 Aparri 729,833 116,470 613,363 212,536 134,567 77,969 284,481 40,602 325,083
6 Baggao 725,676 155,140 570,536 319,018 262,766 56,252 276,024 57,545 333,568
7 Ballesteros 256,181 65,044 191,137 110,473 79,230 31,243 102,338 23,178 125,516
8 Buguey 206,161 80,206 125,955 111,941 107,020 4,921 17,119 8,691 25,810
9 Calayan 322,909 129,956 192,953 137,025 120,667 16,359 85,301 (7,596) 77,705
Republic of the Philippines
Financial Profile - Municipalities
Calendar Year 2018
(in thousand pesos)

Region Financial Condition Financial Performance Cash Position


1 2 Net Cash
Municipalities Assets Liabilities Equity Revenue Expenses Surplus/ (Deficit) Provided by
Cash Bal. Beg. (Used In) Cash Bal. End
10 Camalaniugan 121,587 56,348 65,239 101,524 85,243 16,281 47,527 (1,183) 46,344
11 Claveria 254,670 59,901 194,769 125,461 94,969 30,492 124,315 19,703 144,018
12 Enrile 203,864 73,911 129,953 152,600 150,390 2,210 44,531 (21,114) 23,417
13 Gattaran 460,895 45,603 415,292 278,291 219,765 58,526 139,766 24,410 164,176
14 Gonzaga 523,664 76,795 446,870 199,052 173,312 25,740 159,909 11,196 171,104
15 Iguig 237,743 112,135 125,608 102,806 89,204 13,602 17,217 42,341 59,558
16 Lallo 563,412 385,327 178,086 279,278 265,873 13,405 141,366 45,525 186,891
17 Lasam 231,020 30,111 200,909 137,834 104,646 33,188 33,833 9,752 43,585
18 Pamplona 279,306 77,681 201,625 97,458 78,282 19,176 149,679 6,876 156,556
19 Peñablanca 388,412 11,053 377,359 292,676 238,370 54,307 82,661 10,422 93,083
20 Piat 257,631 64,629 193,002 100,428 75,399 25,029 114,902 26,526 141,428
21 Rizal 117,836 32,431 85,406 80,327 67,126 13,200 22,307 515 22,822
22 Sanchez Mira 251,831 63,973 187,858 115,010 88,202 26,808 90,050 (265) 89,785
23 Solana 735,857 304,401 431,457 272,397 181,085 91,311 92,971 53,612 146,583
120

24 Sta. Ana 424,631 116,842 307,790 178,918 145,464 33,454 136,573 17,522 154,095
25 Sta. Praxedes 102,473 13,490 88,984 56,790 50,621 6,169 29,916 (4,361) 25,555
26 Sta. Teresita 158,015 47,884 110,130 97,284 79,932 17,351 52,388 27,921 80,309
27 Sto. Niño - - - - - - - - -
28 Tuao 438,848 92,676 346,172 180,545 107,498 73,047 129,447 81,906 211,354
Sub-Total 9,587,880 2,662,638 6,925,243 4,274,149 3,464,828 809,321 2,877,646 556,464 3,434,109

Isabela
1 Alicia 358,005 150,864 207,142 220,225 195,442 24,783 144,885 (12,235) 132,651
2 Angadanan 471,395 41,797 429,598 136,286 132,515 3,771 101,099 (42,097) 59,002
3 Aurora 555,761 101,009 454,752 424,245 193,966 230,279 87,807 152,825 240,632
4 Benito Soliven 194,008 60,661 133,347 109,374 102,622 6,752 10,261 8,445 18,705
5 Burgos 330,451 139,121 191,330 83,558 64,472 19,086 119,625 (39,281) 80,344
6 Cabagan 396,425 243,594 152,831 187,997 162,581 25,415 119,672 66,601 186,273
7 Cabatuan 294,815 99,243 195,572 130,795 103,717 27,078 41,179 30,940 72,119
8 Cordon 223,503 72,201 151,301 147,382 119,429 27,953 24,887 8,303 33,190
9 Delfin Albano 245,649 61,610 184,039 159,599 116,834 42,765 76,908 31,353 108,261
10 Dinapigue 246,261 48,554 197,707 170,528 125,998 44,531 10,791 5,102 15,893
11 Divilacan 315,998 70,948 245,050 171,602 150,027 21,574 147,259 (22,062) 125,197
12 Echague 1,106,014 439,907 666,107 375,602 324,656 50,946 134,474 15,508 149,983
13 Gamu 174,525 49,675 124,851 118,029 99,515 18,514 51,933 (2,959) 48,974
14 Jones 616,803 173,351 443,453 252,361 193,848 58,513 44,056 8,151 52,206
Republic of the Philippines
Financial Profile - Municipalities
Calendar Year 2018
(in thousand pesos)

Region Financial Condition Financial Performance Cash Position


1 2 Net Cash
Municipalities Assets Liabilities Equity Revenue Expenses Surplus/ (Deficit) Provided by
Cash Bal. Beg. (Used In) Cash Bal. End
15 Luna 182,112 74,814 107,299 89,182 91,746 (2,565) 15,454 2,837 18,291
16 Maconacon 177,036 19,584 157,452 119,919 101,140 18,779 62,957 (8,985) 53,971
17 Mallig 545,755 172,538 373,216 108,906 101,725 7,181 21,496 34,208 55,704
18 Naguilian 130,375 26,025 104,350 130,683 100,000 30,683 53,346 (13,905) 39,441
19 Palanan 191,199 1,436 189,763 250,470 222,256 28,214 32,024 (21,742) 10,283
20 Quezon 150,983 22,034 128,949 135,670 132,391 3,278 74,519 (42,199) 32,320
21 Quirino 408,527 200,988 207,540 115,740 102,747 12,993 129,849 33,555 163,404
22 Ramon 373,618 135,109 238,509 212,384 206,296 6,089 69,608 12,662 82,270
23 Reina Mercedes 203,700 49,668 154,032 257,763 168,432 89,330 12,318 50,151 62,469
24 Roxas 567,585 327,891 239,694 233,419 237,756 (4,337) 49,633 173,393 223,025
25 San Agustin 224,738 81,437 143,301 113,715 92,547 21,168 44,926 32,557 77,483
26 San Guillermo 226,989 65,642 161,347 115,598 83,361 32,238 99,994 (2,930) 97,065
27 San Isidro 361,633 81,963 279,670 84,345 62,445 21,900 48,286 20,808 69,094
28 San Manuel 367,110 151,399 215,710 107,921 109,991 (2,071) 70,730 (7,242) 63,489
121

29 San Mariano 684,818 124,685 560,133 447,737 344,118 103,619 136,889 10,887 147,776
30 San Mateo 548,148 220,885 327,263 237,068 203,021 34,047 83,949 (23,508) 60,441
31 San Pablo 338,855 71,548 267,308 167,450 111,467 55,982 81,348 26,996 108,344
32 Sta. Maria 164,701 27,250 137,451 109,323 97,346 11,977 23,402 16,808 40,210
33 Sto. Tomas - - - - - - - - -
34 Tumauini 609,042 267,250 341,792 305,894 252,723 53,171 43,807 16,282 60,089
Sub-Total 11,986,537 3,874,678 8,111,859 6,030,768 4,907,133 1,123,636 2,269,372 519,227 2,788,599

Nueva Viscaya
1 A. Castaneda 403,400 70,170 333,231 137,140 129,000 8,141 73,202 (31,097) 42,105
2 Ambaguio 112,015 49,965 62,050 77,971 66,891 11,080 36,031 (8,284) 27,747
3 Aritao 296,499 54,657 241,842 168,799 136,736 32,063 107,245 11,428 118,672
4 Bagabag 271,985 53,798 218,186 136,563 110,090 26,473 126,345 4,164 130,509
5 Bambang 458,635 124,684 333,952 217,797 175,352 42,444 194,520 21,396 215,916
6 Bayombong 275,471 75,665 199,806 194,092 165,598 28,494 157,355 (14,971) 142,384
7 Diadi 114,017 43,799 70,218 89,890 87,393 2,496 33,109 (17,606) 15,504
8 Dupax del Norte 288,941 50,289 238,652 132,193 115,319 16,874 110,056 (1,722) 108,334
9 Dupax del Sur 366,393 49,743 316,650 166,251 110,613 55,638 167,161 9,706 176,867
10 Kasibu 550,203 96,639 453,563 278,972 230,545 48,427 331,420 325 331,746
11 Kayapa 254,089 44,375 209,715 137,560 114,679 22,882 124,380 4,307 128,687
12 Quezon 201,628 71,659 129,969 143,867 112,691 31,177 61,361 33,169 94,530
13 Solano 815,979 107,632 708,347 259,455 197,955 61,500 180,882 (2,446) 178,436
Republic of the Philippines
Financial Profile - Municipalities
Calendar Year 2018
(in thousand pesos)

Region Financial Condition Financial Performance Cash Position


1 2 Net Cash
Municipalities Assets Liabilities Equity Revenue Expenses Surplus/ (Deficit) Provided by
Cash Bal. Beg. (Used In) Cash Bal. End
14 Sta. Fe 157,084 37,390 119,694 119,119 103,013 16,106 43,883 5,203 49,086
15 Villaverde 155,072 53,465 101,607 75,617 66,177 9,441 59,761 10,786 70,547
Sub-Total 4,721,411 983,930 3,737,482 2,335,287 1,922,052 413,236 1,806,712 24,358 1,831,071

Quirino
1 Aglipay 177,541 20,034 157,507 120,237 100,013 20,224 17,605 5,166 22,772
2 Cabarroguis 263,660 78,800 184,859 202,314 177,967 24,347 86,670 29,507 116,177
3 Diffun 437,072 132,386 304,686 195,216 158,407 36,809 157,061 (7,311) 149,750
4 Maddela 450,658 145,773 304,885 310,119 259,702 50,418 110,484 (783) 109,701
5 Nagtipunan 632,840 103,900 528,940 385,477 264,426 121,051 196,204 68,693 264,897
6 Saguday 46,461 26,258 20,203 69,508 65,554 3,954 21,437 (338) 21,099
Sub-Total 2,008,232 507,151 1,501,081 1,282,871 1,026,068 256,803 589,461 94,933 684,394
REGIONAL TOTAL 28,829,272 8,327,217 20,502,055 14,201,033 11,567,752 2,633,282 7,819,000 1,251,264 9,070,264
122

Region III

Aurora
1 Baler 398,829 155,219 243,610 149,269 146,608 2,661 91,397 5,421 96,818
2 Casiguran 373,318 115,423 257,896 182,048 139,273 42,775 89,351 26,196 115,547
3 Disalag 189,774 41,570 148,204 109,600 88,801 20,799 56,249 10,573 66,823
4 Dinalungan 135,317 41,832 93,484 99,799 89,343 10,456 28,158 7,078 35,236
5 Dingalan 204,753 76,466 128,286 124,077 102,937 21,139 35,775 2,133 37,908
6 Dipaculao 247,444 40,978 206,465 148,939 121,194 27,744 69,815 5,391 75,206
7 Maria Aurora 211,709 27,227 184,481 177,307 157,691 19,617 46,047 (5,044) 41,003
8 San Luis 393,222 106,802 286,420 176,502 131,659 44,843 75,823 14,115 89,938
Sub-Total 2,154,365 605,518 1,548,847 1,167,540 977,507 190,033 492,616 65,864 558,480

Bataan
1 Abucay 396,920 149,543 247,377 141,018 135,763 5,255 145,678 38,014 183,692
2 Bagac 398,212 202,095 196,117 131,144 109,424 21,720 104,717 (36,549) 68,167
3 Dinalupihan 424,528 194,737 229,791 315,526 295,811 19,715 115,613 1,682 117,295
4 Hermosa 531,123 144,237 386,886 261,902 176,281 85,620 129,253 25,407 154,660
5 Limay - - - - - - - - -
6 Mariveles 3,015,629 1,520,865 1,494,764 687,690 483,994 203,696 444,405 (54,748) 389,657
7 Morong 357,668 83,593 274,075 173,702 129,590 44,113 105,689 16,973 122,662
8 Orani 429,997 189,391 240,606 219,911 221,355 (1,444) 111,222 (1,365) 109,857
Republic of the Philippines
Financial Profile - Municipalities
Calendar Year 2018
(in thousand pesos)

Region Financial Condition Financial Performance Cash Position


1 2 Net Cash
Municipalities Assets Liabilities Equity Revenue Expenses Surplus/ (Deficit) Provided by
Cash Bal. Beg. (Used In) Cash Bal. End
9 Orion 446,087 212,416 233,671 157,975 126,832 31,144 136,113 65,877 201,990
10 Pilar 353,297 62,805 290,492 134,664 107,538 27,126 55,791 5,976 61,767
11 Samal 257,610 115,817 141,793 134,829 125,638 9,191 92,411 (32,211) 60,199
Sub-Total 6,611,071 2,875,498 3,735,573 2,358,361 1,912,226 446,135 1,440,892 29,054 1,469,946

Bulacan
1 Angat 309,366 108,253 201,113 201,181 132,496 68,685 115,458 21,036 136,493
2 Balagtas 543,728 195,962 347,766 275,817 247,079 28,738 156,902 (53,276) 103,626
3 Baliuag 984,156 286,388 697,768 520,777 538,222 (17,445) 163,120 19,583 182,703
4 Bocaue 430,216 147,485 282,731 354,353 326,189 28,164 191,042 1,404 192,446
5 Bulakan 311,665 123,354 188,311 190,391 187,856 2,535 34,523 (8,821) 25,702
6 Bustos 149,851 36,814 113,037 179,142 158,074 21,068 47,322 5,792 53,114
7 Calumpit 415,178 168,267 246,911 292,526 254,627 37,899 90,352 (559) 89,793
8 D.R. Trinidad 727,306 165,408 561,899 238,710 138,646 100,064 156,393 5,470 161,863
123

9 Guiguinto 891,362 380,590 510,773 475,737 361,372 114,365 280,355 28,541 308,896
10 Hagonoy 852,269 288,777 563,492 294,001 240,590 53,411 88,834 (2,485) 86,349
11 Marilao 1,376,173 370,117 1,006,057 894,679 754,385 140,295 307,302 35,705 343,007
12 Norzagaray 1,385,974 539,084 846,890 487,840 387,049 100,791 403,591 84,618 488,209
13 Obando 177,573 77,136 100,436 154,827 146,476 8,350 75,733 (27,574) 48,159
14 Pandi 634,111 135,803 498,308 226,396 158,209 68,187 314,581 (24,488) 290,093
15 Paombong 256,992 122,497 134,494 134,829 129,809 5,020 67,504 (14,218) 53,286
16 Plaridel 799,257 129,906 669,351 320,827 292,768 28,059 152,332 (26,137) 126,195
17 Pulilan 593,462 165,753 427,709 422,259 358,584 63,674 211,749 42,396 254,146
18 San Ildefonso 1,045,984 618,591 427,394 385,035 303,835 81,200 244,487 96,150 340,637
19 San Miguel 719,325 398,919 320,406 366,832 311,699 55,133 135,164 32,371 167,535
20 San Rafael 841,528 249,988 591,540 306,313 218,858 87,454 186,920 52,057 238,977
21 Sta. Maria 1,489,327 205,689 1,283,638 737,635 544,151 193,484 400,968 34,549 435,517
Sub-Total 14,934,804 4,914,781 10,020,022 7,460,105 6,190,973 1,269,132 3,824,632 302,115 4,126,747

Nueva Ecija
1 Aliaga 558,531 194,485 364,046 159,187 99,359 59,828 119,804 25,527 145,332
2 Bongabon 579,827 365,187 214,640 223,227 212,932 10,296 93,588 (1,315) 92,273
3 Cabiao 372,568 193,280 179,288 221,614 176,811 44,802 26,063 9,403 35,466
4 Carrangalan 418,405 157,161 261,244 204,531 167,110 37,420 142,940 42,169 185,109
5 Cuyapo 386,016 72,887 313,129 186,646 152,774 33,872 25,417 8,413 33,830
6 Gabaldon 346,354 151,112 195,242 147,266 107,347 39,919 49,426 12,664 62,090
Republic of the Philippines
Financial Profile - Municipalities
Calendar Year 2018
(in thousand pesos)

Region Financial Condition Financial Performance Cash Position


1 2 Net Cash
Municipalities Assets Liabilities Equity Revenue Expenses Surplus/ (Deficit) Provided by
Cash Bal. Beg. (Used In) Cash Bal. End
7 G.M. Natividad 316,830 56,088 260,742 127,784 101,344 26,440 57,033 21,557 78,590
8 Gen. Tinio 236,029 89,045 146,984 202,793 177,893 24,900 21,530 (5,988) 15,541
9 Guimba 749,127 360,943 388,183 309,933 242,334 67,600 134,164 95,197 229,361
10 Jaen 316,854 96,568 220,286 177,910 129,947 47,963 50,093 42,206 92,299
11 Laur 393,488 133,934 259,554 145,446 102,107 43,339 70,385 23,270 93,655
12 Licab 210,362 84,528 125,833 90,666 84,484 6,182 15,236 (1,306) 13,931
13 Llanera 380,269 209,497 170,772 151,168 96,116 55,052 47,065 18,555 65,620
14 Lupao 168,972 48,487 120,485 134,594 98,891 35,703 12,631 40,031 52,662
15 Nampicuan 198,293 45,779 152,514 88,085 64,957 23,128 16,530 1,646 18,176
16 Pantabangan 1,069,819 478,709 591,110 192,640 176,643 15,998 35,739 1,775 37,514
17 Peñaranda 263,189 140,091 123,098 159,944 138,849 21,095 45,647 5,684 51,331
18 Quezon 143,607 79,749 63,858 129,792 125,430 4,362 16,038 3,932 19,970
18 Rizal 320,646 136,981 183,665 176,861 137,592 39,269 84,616 40,693 125,308
20 San Antonio 480,774 240,339 240,434 201,901 183,654 18,246 53,334 (17,906) 35,428
124

21 San Isidro 516,074 237,258 278,816 143,385 136,347 7,038 23,022 1,801 24,823
22 San Leonardo 335,372 257,427 77,945 206,812 192,299 14,512 15,270 13,775 29,045
23 Sta. Rosa 571,435 220,587 350,848 205,931 158,737 47,195 86,656 35,223 121,879
24 Sto. Domingo 489,513 260,908 228,605 154,889 151,550 3,339 84,271 (29,489) 54,781
25 Talavera 1,221,521 615,768 605,754 365,086 282,657 82,429 85,977 23,097 109,075
26 Talugtog 386,765 147,444 239,321 134,902 100,910 33,992 31,151 4,020 35,171
27 Zaragosa 342,922 119,636 223,286 141,313 116,850 24,462 59,569 6,379 65,948
Sub-Total 11,773,563 5,193,882 6,579,681 4,784,307 3,915,924 868,383 1,503,194 421,013 1,924,207

Pampanga
1 Apalit 301,693 130,534 171,159 272,113 288,223 (16,110) 73,282 (31,774) 41,508
2 Arayat 124,476 33,484 90,992 279,093 277,182 1,911 24,192 3,028 27,219
3 Bacolor 319,987 133,683 186,304 181,207 164,265 16,942 98,591 (5,883) 92,707
4 Candaba 244,978 43,093 201,885 228,140 197,671 30,469 111,481 (9,708) 101,772
5 Florida Blanca 304,913 87,895 217,018 329,815 278,737 51,078 103,121 24,691 127,812
6 Guagua 481,883 217,333 264,549 336,292 261,407 74,885 129,585 1,967 131,552
7 Lubao 757,434 280,943 476,491 414,072 322,862 91,210 283,284 41,812 325,096
8 Macabebe 174,316 82,175 92,141 197,611 165,940 31,671 19,823 3,987 23,810
9 Magalang 190,728 54,283 136,445 288,609 284,426 4,182 83,930 (34,965) 48,966
10 Masantol 156,525 52,523 104,002 167,476 143,103 24,373 42,400 8,865 51,265
11 Mexico 804,595 190,957 613,638 542,053 466,593 75,459 204,555 42,107 246,662
12 Minalin 78,006 18,575 59,430 124,107 120,606 3,500 32,827 (8,334) 24,493
Republic of the Philippines
Financial Profile - Municipalities
Calendar Year 2018
(in thousand pesos)

Region Financial Condition Financial Performance Cash Position


1 2 Net Cash
Municipalities Assets Liabilities Equity Revenue Expenses Surplus/ (Deficit) Provided by
Cash Bal. Beg. (Used In) Cash Bal. End
13 Porac 519,666 74,674 444,992 397,351 296,009 101,342 244,443 28,605 273,048
14 San Luis 356,728 104,755 251,973 159,091 116,507 42,584 83,725 (8,833) 74,893
15 San Simon 366,763 146,915 219,848 216,274 173,004 43,270 141,974 7,841 149,816
16 Sasmuan 67,880 22,674 45,206 89,634 85,183 4,451 12,656 3,502 16,158
17 Sta. Ana 258,309 95,817 162,492 166,967 116,309 50,659 60,279 14,592 74,871
18 Sta. Rita 272,242 62,823 209,419 132,604 119,854 12,750 89,766 (13,411) 76,355
19 Sto. Tomas 108,919 35,760 73,158 112,940 110,444 2,496 41,086 5,133 46,219
Sub-Total 5,890,038 1,868,898 4,021,140 4,635,448 3,988,325 647,123 1,881,000 73,222 1,954,222

Tarlac
1 Anao 134,781 21,959 112,822 65,984 44,415 21,569 39,764 4,957 44,720
2 Bamban 470,086 211,137 258,948 197,385 182,435 14,950 109,196 (21,203) 87,993
3 Camiling 931,989 214,860 717,129 237,789 159,671 78,118 104,181 40,925 145,106
4 Capas 810,228 364,220 446,007 445,799 406,151 39,647 139,655 30,977 170,632
125

5 Concepcion 688,300 120,789 567,510 369,979 294,691 75,288 224,245 (663) 223,582
6 Gerona 489,102 130,768 358,334 251,418 209,717 41,701 107,442 18,568 126,009
7 La Paz 377,566 186,686 190,880 166,028 151,089 14,939 71,520 24,538 96,059
8 Mayantoc 271,486 45,970 225,516 142,664 96,378 46,286 63,549 4,020 67,569
9 Moncada 518,103 166,402 351,701 188,109 181,276 6,833 56,585 27,975 84,559
10 Paniqui 722,000 150,695 571,306 263,710 179,870 83,839 232,731 (8,455) 224,277
11 Pura 168,085 38,406 129,680 91,801 74,432 17,369 48,069 16,990 65,059
12 Ramos 268,165 27,988 240,177 74,604 59,803 14,801 35,686 5,044 40,730
13 San Clemente 151,515 23,692 127,824 62,491 52,968 9,524 32,955 6,291 39,246
14 San Jose 430,307 147,070 283,237 146,315 97,686 48,629 104,654 24,248 128,903
15 San Manuel 287,974 50,821 237,153 93,966 104,943 (10,978) 62,944 (46,351) 16,593
16 Sta. Ignacia 342,559 72,365 270,194 162,601 119,368 43,233 52,826 22,566 75,392
17 Victoria 437,137 189,734 247,403 169,932 161,618 8,314 197,902 (26,825) 171,077
Sub-Total 7,499,383 2,163,561 5,335,822 3,130,572 2,576,511 554,061 1,683,905 123,602 1,807,507

Zambales
1 Botolan 664,512 298,699 365,813 288,430 253,363 35,068 71,740 12,603 84,343
2 Cabangan 209,972 101,770 108,202 118,446 79,200 39,245 97,137 10,776 107,913
3 Candelaria 303,080 78,254 224,826 137,590 111,576 26,013 116,929 (2,278) 114,651
4 Castillejos 475,666 120,791 354,875 235,126 150,402 84,724 195,262 31,071 226,333
5 Iba 544,070 307,479 236,592 195,307 160,569 34,738 84,566 (7,654) 76,912
6 Masinloc 1,431,982 416,014 1,015,968 471,391 328,423 142,967 244,531 43,932 288,464
7 Palauig 358,665 138,513 220,152 144,392 107,360 37,031 93,022 2,436 95,458
Republic of the Philippines
Financial Profile - Municipalities
Calendar Year 2018
(in thousand pesos)

Region Financial Condition Financial Performance Cash Position


1 2 Net Cash
Municipalities Assets Liabilities Equity Revenue Expenses Surplus/ (Deficit) Provided by
Cash Bal. Beg. (Used In) Cash Bal. End
8 San Antonio 434,707 114,302 320,404 166,823 127,898 38,926 86,679 3,117 89,796
9 San Felipe 241,544 71,298 170,246 135,861 88,312 47,549 34,148 1,707 35,854
10 San Marcelino 518,819 161,330 357,489 213,950 161,045 52,905 51,431 (73) 51,358
11 San Narciso 258,267 66,446 191,821 100,645 83,321 17,325 113,981 4,226 118,207
12 Sta. Cruz 794,437 364,313 430,125 221,697 183,443 38,255 246,315 (41,128) 205,188
13 Subic 579,686 397,595 182,091 351,746 370,350 (18,604) 66,292 2,552 68,844
Sub-Total 6,815,408 2,636,804 4,178,604 2,781,405 2,205,262 576,142 1,502,032 61,288 1,563,321
REGIONAL TOTAL 55,678,631 20,258,942 35,419,689 26,317,737 21,766,728 4,551,009 12,328,271 1,076,159 13,404,430

Region IV - A

Batangas
1 Agoncillo 223,943 53,501 170,442 123,526 87,792 35,734 96,153 9,002 105,155
2 Alitagtag 222,024 37,014 185,009 82,963 71,770 11,193 61,072 1,977 63,049
126

3 Balayan 850,672 430,416 420,256 300,452 211,528 88,923 114,955 71,312 186,267
4 Balete 127,254 26,917 100,337 76,472 62,694 13,779 43,901 4,916 48,817
5 Bauan 1,014,323 379,063 635,260 371,683 267,965 103,719 277,115 (18,247) 258,868
6 Calaca 1,875,786 680,293 1,195,494 703,494 387,387 316,108 682,544 194,058 876,603
7 Calatagan 546,625 137,923 408,703 226,989 157,465 69,524 92,607 33,187 125,794
8 Cuenca 249,345 34,758 214,587 107,064 84,660 22,403 101,507 9,778 111,285
9 Ibaan 246,150 72,943 173,207 157,603 131,896 25,707 85,350 10,806 96,156
10 Laurel 523,590 215,087 308,503 167,150 121,690 45,460 82,368 (12,561) 69,807
11 Lemery 629,869 159,236 470,632 287,542 215,751 71,791 115,430 31,510 146,940
12 Lian 373,869 155,734 218,135 156,951 124,066 32,884 82,315 31,440 113,755
13 Lobo 331,359 129,943 201,416 138,624 93,071 45,553 110,969 27,462 138,431
14 Mabini 568,573 95,541 473,032 213,925 163,375 50,550 157,181 9,852 167,033
15 Malvar 908,006 131,151 776,854 277,274 148,924 128,350 359,486 90,073 449,559
16 Mataas Na Kahoy 244,336 38,489 205,848 98,238 68,104 30,134 111,707 13,620 125,326
17 Nasugbu 1,630,229 776,366 853,863 455,376 333,665 121,711 133,486 54,913 188,399
18 Padre Garcia 383,276 82,104 301,172 190,608 148,262 42,346 65,141 20,901 86,042
19 Rosario 634,480 123,307 511,173 331,258 258,564 72,695 196,706 53,221 249,927
20 San Jose 806,328 103,496 702,831 238,757 159,507 79,250 326,288 14,721 341,009
21 San Juan 714,378 97,937 616,442 349,355 295,524 53,830 153,760 (9,596) 144,164
22 San Luis 194,848 30,474 164,373 110,129 81,597 28,532 80,857 (3,225) 77,633
23 San Nicolas 154,044 34,107 119,937 96,967 69,957 27,009 53,127 10,381 63,509
24 San Pascual 678,427 95,527 582,900 257,392 191,295 66,098 203,378 (27,130) 176,248
25 Sta. Teresita 233,275 41,828 191,447 74,377 58,337 16,039 96,728 11,902 108,630
26 Sto. Tomas 2,566,066 714,234 1,851,832 809,094 550,743 258,351 694,450 140,721 835,170
Republic of the Philippines
Financial Profile - Municipalities
Calendar Year 2018
(in thousand pesos)

Region Financial Condition Financial Performance Cash Position


1 2 Net Cash
Municipalities Assets Liabilities Equity Revenue Expenses Surplus/ (Deficit) Provided by
Cash Bal. Beg. (Used In) Cash Bal. End
27 Taal 293,506 53,813 239,694 154,686 110,547 44,139 43,728 10,992 54,721
28 Talisay 539,097 247,394 291,702 178,585 142,318 36,267 60,576 (3,290) 57,286
29 Taysan 406,110 125,149 280,961 157,107 138,362 18,745 97,825 7,097 104,922
30 Tingloy 124,304 43,519 80,784 67,085 47,684 19,401 93,900 (25,658) 68,242
31 Tuy 373,363 83,557 289,806 152,564 106,447 46,118 38,689 (5,367) 33,321
Sub-Total 18,667,453 5,430,820 13,236,633 7,113,290 5,090,946 2,022,344 4,913,301 758,768 5,672,068

Cavite
1 Alfonso 358,597 83,555 275,042 200,054 148,598 51,456 140,219 9,979 150,198
2 Amadeo 235,449 79,968 155,481 115,317 112,377 2,940 39,325 3,262 42,587
3 Carmona 1,969,468 305,482 1,663,986 767,701 552,573 215,128 601,681 111,175 712,856
4 Gen. Emilio Aguinaldo 157,176 35,543 121,633 83,471 70,505 12,967 36,906 6,005 42,911
5 Gen. Mariano Alvarez 582,424 208,259 374,165 388,126 339,257 48,869 124,381 (6,210) 118,171
6 Indang 389,119 133,765 255,354 221,213 178,159 43,055 119,284 3,015 122,298
127

7 Kawit 556,415 185,572 370,843 261,047 233,883 27,164 106,778 40,801 147,580
8 Magallanes 178,108 58,619 119,489 98,446 84,770 13,675 51,873 247 52,120
9 Maragondon 232,392 83,748 148,644 131,077 130,157 920 90,954 (3,195) 87,759
10 Mendez-Nunez 310,389 38,171 272,218 110,826 99,683 11,142 47,829 (3,658) 44,172
11 Naic 927,093 153,726 773,367 326,190 213,995 112,196 293,849 63,937 357,786
12 Noveleta 136,106 41,484 94,622 141,602 127,436 14,165 38,711 (6,981) 31,730
13 Rosario 1,461,266 120,511 1,340,755 785,062 641,920 143,142 74,531 54,102 128,632
14 Silang 1,900,427 346,435 1,553,992 763,829 547,452 216,377 656,520 103,168 759,689
15 Tanza 1,055,813 271,117 784,695 568,711 437,759 130,952 376,324 81,730 458,054
16 Ternate 309,200 200,851 108,349 110,388 76,370 34,019 60,936 17,368 78,304
Sub-Total 10,759,441 2,346,807 8,412,634 5,073,060 3,994,895 1,078,166 2,860,101 474,746 3,334,847

Laguna
1 Alaminos 416,344 83,382 332,961 162,089 107,779 54,310 203,832 18,681 222,513
2 Bay 388,972 125,309 263,664 189,325 128,051 61,274 150,771 35,469 186,240
3 Calauan 638,636 125,912 512,723 209,030 132,939 76,091 364,396 88,288 452,685
4 Cavinti 242,258 98,939 143,319 128,673 106,051 22,622 78,201 33,167 111,368
5 Famy 131,446 50,839 80,606 68,553 52,619 15,933 70,056 21,259 91,314
6 Kalayaan 138,641 30,593 108,049 102,970 96,704 6,266 30,827 (9,055) 21,772
7 Liliw 175,762 65,985 109,777 107,605 93,305 14,300 62,959 12,841 75,800
8 Los Baños 820,120 232,581 587,538 327,114 242,930 84,184 360,041 57,367 417,408
9 Luisiana 246,365 125,149 121,216 91,059 82,680 8,379 56,112 13,046 69,158
Republic of the Philippines
Financial Profile - Municipalities
Calendar Year 2018
(in thousand pesos)

Region Financial Condition Financial Performance Cash Position


1 2 Net Cash
Municipalities Assets Liabilities Equity Revenue Expenses Surplus/ (Deficit) Provided by
Cash Bal. Beg. (Used In) Cash Bal. End
10 Lumban 146,880 42,955 103,925 112,323 102,671 9,652 40,876 (16,803) 24,073
11 Mabitac 99,300 31,267 68,032 80,004 65,336 14,668 45,582 (676) 44,906
12 Magdalena 192,316 38,437 153,878 101,555 91,231 10,324 67,106 2,855 69,961
13 Majayjay 167,751 38,414 129,337 94,836 80,525 14,311 83,818 (20,219) 63,599
14 Nagcarlan 412,144 143,616 268,527 170,597 163,122 7,475 149,807 15,579 165,385
15 Paete 190,569 54,013 136,555 111,528 76,001 35,528 60,393 5,946 66,339
16 Pagsanjan 260,123 120,368 139,756 138,267 134,220 4,048 89,726 7,072 96,797
17 Pakil 178,772 77,905 100,867 78,855 68,839 10,016 48,197 (6,445) 41,752
18 Pangil 182,091 60,787 121,303 100,105 90,112 9,993 55,397 4,710 60,107
19 Pila 241,036 102,008 139,029 137,910 115,275 22,635 85,093 (3,511) 81,582
20 Rizal 95,572 52,720 42,852 73,657 63,210 10,447 43,576 (1,911) 41,665
21 Siniloan 197,268 83,644 113,624 132,043 132,016 28 54,915 (30,818) 24,097
22 Sta. Cruz 455,740 115,519 340,221 366,630 322,295 44,335 127,924 23,029 150,954
23 Sta. Maria 218,641 58,578 160,063 111,931 88,953 22,978 33,600 13,414 47,014
128

24 Victoria 221,186 67,471 153,715 121,228 87,015 34,213 82,743 2,824 85,567
Sub-Total 6,457,931 2,026,393 4,431,539 3,317,889 2,723,879 594,010 2,445,946 266,110 2,712,056

Quezon
1 Agdangan 113,103 37,196 75,907 58,310 45,036 13,274 66,146 3,078 69,225
2 Alabat 134,597 51,844 82,754 78,133 72,936 5,197 53,004 (7,136) 45,869
3 Atimonan 349,291 81,150 268,141 195,099 172,402 22,697 135,289 (27,030) 108,258
4 Buenavista 383,290 164,493 218,797 107,870 83,870 24,000 105,243 32,310 137,553
5 Burdeous - - - - - - - - -
6 Calauag 577,629 160,874 416,755 191,885 141,480 50,405 224,172 15,586 239,758
7 Candelaria 746,896 225,753 521,143 312,352 217,992 94,361 217,839 57,008 274,847
8 Catanauan 705,105 315,455 389,651 202,283 164,610 37,673 181,031 (2,913) 178,118
9 Dolores 240,013 52,338 187,674 115,248 78,031 37,217 113,891 2,044 115,935
10 Gen. Luna 174,324 114,411 59,912 90,976 95,052 (4,077) 51,556 38,853 90,409
11 Gen. Nakar 613,427 75,973 537,454 311,859 211,827 100,032 173,003 (38,958) 134,044
12 Guinayangan 462,708 307,037 155,672 141,392 114,708 26,684 122,933 21,772 144,705
13 Gumaca 369,156 126,719 242,437 207,791 182,501 25,290 136,691 (21,335) 115,356
14 Infanta 557,564 99,253 458,312 224,356 168,349 56,007 265,647 18,091 283,737
15 Jomalig - - - - - - - - -
16 Lopez 739,334 281,311 458,024 262,164 207,818 54,346 374,013 62,412 436,425
17 Lucban 382,161 150,136 232,025 176,880 146,477 30,403 146,635 29,990 176,624
18 Macaleleon 291,329 118,067 173,262 100,275 80,369 19,906 131,419 15,628 147,048
Republic of the Philippines
Financial Profile - Municipalities
Calendar Year 2018
(in thousand pesos)

Region Financial Condition Financial Performance Cash Position


1 2 Net Cash
Municipalities Assets Liabilities Equity Revenue Expenses Surplus/ (Deficit) Provided by
Cash Bal. Beg. (Used In) Cash Bal. End
19 Mauban 1,116,420 375,552 740,868 510,795 355,151 155,644 248,154 108,260 356,414
20 Mulanay 361,959 180,818 181,142 189,040 153,069 35,971 209,821 (47,018) 162,803
21 Padre Burgos 205,018 44,483 160,535 87,049 63,696 23,353 76,898 10,786 87,684
22 Pagbilao 1,639,124 892,154 746,969 285,491 207,453 78,038 400,280 547,628 947,908
23 Panulukan 191,223 48,331 142,892 93,571 69,063 24,508 70,563 (2,120) 68,443
24 Patnanungan 106,496 65,475 41,021 55,625 58,071 (2,445) 31,247 5,420 36,667
25 Perez 188,817 83,154 105,663 60,856 53,879 6,978 84,874 3,933 88,807
26 Pitogo 188,224 71,674 116,550 83,436 64,107 19,329 87,361 11,738 99,099
27 Plaridel 91,705 12,124 79,581 68,959 46,389 22,570 21,428 (56) 21,373
28 Polilio 377,979 108,410 269,569 151,824 97,154 54,670 196,047 20,414 216,461
29 Quezon 148,135 56,063 92,072 67,795 59,173 8,621 82,208 7,931 90,139
30 Real 534,185 150,506 383,679 185,737 143,272 42,465 204,459 42,867 247,326
31 Sampaloc 215,715 173,608 42,107 75,796 73,017 2,778 48,522 22,124 70,646
32 San Andres 120,813 74,357 46,456 115,807 95,621 20,186 34,982 (2,614) 32,368
129

33 San Antonio 249,538 135,018 114,520 99,602 86,725 12,877 73,135 13,026 86,161
34 San Francisco 336,801 164,305 172,496 173,533 120,906 52,627 85,801 34,531 120,332
35 San Narciso 497,349 165,415 331,934 160,600 99,349 61,251 157,636 52,621 210,256
36 Sariaya 765,534 325,180 440,354 393,501 308,285 85,216 317,889 (5,963) 311,926
37 Tagkawayan 576,758 194,850 381,908 200,536 161,133 39,403 208,009 (53,001) 155,008
38 Tiaong 935,500 385,673 549,827 264,249 178,471 85,778 256,716 98,199 354,915
39 Unisan 270,185 80,949 189,236 98,461 88,261 10,200 73,507 (1,411) 72,096
Sub-Total 15,957,407 6,150,110 9,807,297 6,199,141 4,765,705 1,433,436 5,468,048 1,066,693 6,534,741

Rizal
1 Angono 647,949 395,414 252,536 431,131 397,666 33,465 139,989 27,673 167,662
2 Baras 356,000 170,622 185,377 181,401 148,999 32,403 94,529 34,592 129,121
3 Binangonan 2,218,157 748,879 1,469,277 696,492 443,678 252,814 434,050 65,135 499,185
4 Cainta 4,437,052 2,165,771 2,271,281 1,305,721 1,233,914 71,807 733,514 14,675 748,189
5 Cardona 270,241 95,761 174,480 139,741 113,654 26,087 63,115 10,158 73,273
6 Jala-Jala 333,931 149,753 184,178 99,397 88,965 10,433 84,787 2,706 87,493
7 Morong 340,828 81,474 259,354 186,443 149,311 37,131 82,346 12,055 94,401
8 Pililia 400,026 123,106 276,920 201,645 166,947 34,698 137,202 25,991 163,193
9 Rodriguez 1,647,870 592,464 1,055,407 976,464 824,353 152,111 644,035 64,739 708,774
10 San Mateo 1,505,221 602,371 902,850 683,340 577,601 105,739 510,535 34,530 545,065
11 Tanay 2,013,860 856,290 1,157,570 407,265 258,599 148,666 440,129 87,966 528,094
12 Taytay 1,700,548 667,673 1,032,875 1,019,462 950,196 69,266 497,835 14,735 512,570
13 Teresa 412,639 161,139 251,500 242,958 185,259 57,699 196,804 32,237 229,041
Republic of the Philippines
Financial Profile - Municipalities
Calendar Year 2018
(in thousand pesos)

Region Financial Condition Financial Performance Cash Position


1 2 Net Cash
Municipalities Assets Liabilities Equity Revenue Expenses Surplus/ (Deficit) Provided by
Cash Bal. Beg. (Used In) Cash Bal. End
Sub-Total 16,284,321 6,810,717 9,473,604 6,571,461 5,539,142 1,032,319 4,058,870 427,191 4,486,061
REGIONAL TOTAL 68,126,553 22,764,846 45,361,707 28,274,840 22,114,566 6,160,274 19,746,266 2,993,508 22,739,774

Region IV - B

Marinduque
1 Boac 599,165 144,324 454,841 210,226 151,608 58,618 301,923 53,020 354,943
2 Buenavista 245,521 89,364 156,157 84,995 61,819 23,176 111,345 (38,123) 73,222
3 Gasan 364,069 83,964 280,105 126,641 108,104 18,537 148,424 (7,730) 140,694
4 Mogpog 236,459 57,274 179,185 113,672 87,069 26,604 126,353 (13,824) 112,529
5 Santa Cruz 495,802 171,796 324,006 182,625 144,832 37,793 237,043 (60,483) 176,560
6 Torrijos 223,850 67,170 156,680 119,320 95,737 23,582 142,623 (11,353) 131,270
Sub-Total 2,164,867 613,892 1,550,975 837,480 649,170 188,310 1,067,711 (78,493) 989,218
130

Occidental Mindoro
1 Abra de Ilog 419,505 81,945 337,560 185,911 154,490 31,422 196,727 8,509 205,237
2 Calintaan 228,089 83,604 144,484 158,841 142,554 16,287 43,618 15,536 59,154
3 Looc 228,467 64,395 164,072 75,621 48,276 27,346 126,844 7,529 134,373
4 Lubang 348,452 73,120 275,331 99,455 107,933 (8,478) 54,690 12,147 66,837
5 Magsaysay 224,059 73,520 150,539 162,418 128,060 34,359 41,685 3,393 45,078
6 Mamburao 328,424 263,920 64,504 184,329 152,093 32,236 90,679 4,132 94,811
7 Paluan 415,363 75,160 340,202 174,496 122,352 52,144 121,310 19,204 140,514
8 Rizal 273,143 129,725 143,417 152,433 132,291 20,142 78,217 25,263 103,480
9 Sablayan 1,109,930 235,581 874,349 586,644 454,236 132,408 168,496 14,943 183,439
10 San Jose 1,161,983 467,033 694,951 439,990 413,512 26,478 144,042 70,448 214,490
11 Sta. Cruz 521,738 216,581 305,157 251,928 200,331 51,597 103,048 18,567 121,615
Sub-Total 5,259,151 1,764,584 3,494,567 2,472,067 2,056,127 415,940 1,169,355 199,672 1,369,027

Oriental Mindoro
1 Baco 303,657 76,864 226,793 133,223 110,001 23,223 105,662 4,056 109,718
2 Bansud 280,901 89,136 191,764 153,064 122,584 30,480 105,420 32,299 137,719
3 Bongabong 765,824 208,783 557,041 249,769 170,071 79,698 329,583 71,089 400,672
4 Bulalacao 394,676 235,675 159,001 165,211 115,872 49,339 73,740 (18,320) 55,421
5 Gloria 426,223 111,469 314,754 163,459 144,747 18,713 237,812 (161,190) 76,622
6 Mansalay 646,994 176,759 470,235 188,078 150,703 37,375 84,181 47,021 131,201
7 Naujan 852,043 96,246 755,798 321,474 215,262 106,213 298,025 34,793 332,818
8 Pinamalayan 497,199 122,745 374,454 265,835 200,075 65,760 267,775 30,011 297,787
Republic of the Philippines
Financial Profile - Municipalities
Calendar Year 2018
(in thousand pesos)

Region Financial Condition Financial Performance Cash Position


1 2 Net Cash
Municipalities Assets Liabilities Equity Revenue Expenses Surplus/ (Deficit) Provided by
Cash Bal. Beg. (Used In) Cash Bal. End
9 Pola 493,259 197,793 295,465 113,083 82,580 30,503 258,498 (109,840) 148,658
10 Puerto Galera 364,747 147,161 217,585 193,919 183,490 10,430 137,411 6,733 144,144
11 Roxas 250,128 52,892 197,236 160,847 138,793 22,054 93,306 (1,145) 92,162
12 San Teodoro 157,772 41,819 115,953 118,814 102,629 16,185 68,068 (13,308) 54,760
13 Socorro 943,222 535,588 407,634 129,196 111,890 17,306 155,301 301,353 456,653
14 Victoria 377,153 91,468 285,686 153,220 130,016 23,204 184,777 (29,876) 154,900
Sub-Total 6,753,798 2,184,398 4,569,399 2,509,194 1,978,712 530,481 2,399,559 193,677 2,593,235
Palawan
1 Aborlan 711,636 249,957 461,679 220,356 164,434 55,922 302,279 45,313 347,592
2 Agutaya 152,389 53,462 98,927 57,042 44,306 12,736 55,098 (4,672) 50,425
3 Araceli 195,442 136,519 58,922 88,101 77,594 10,507 80,449 19,595 100,043
4 Balabac 298,125 112,807 185,317 178,348 134,140 44,208 102,356 19,480 121,836
5 Bataraza 1,584,689 466,787 1,117,902 796,019 318,684 477,335 263,564 205,255 468,818
131

6 Brookespoint 979,279 323,279 656,000 399,205 330,691 68,514 339,341 (21,599) 317,742
7 Busuanga 427,261 126,408 300,853 133,899 104,314 29,585 82,867 (2,901) 79,966
8 Cagayancillo 91,120 22,719 68,401 45,791 34,834 10,956 47,712 4,620 52,332
9 Coron 631,930 155,458 476,472 280,474 193,351 87,124 267,736 70,088 337,824
10 Culion 221,998 73,001 148,997 143,085 118,782 24,303 72,787 9,282 82,068
11 Cuyo 222,564 98,280 124,284 101,979 81,386 20,593 104,081 16,558 120,639
12 Dr. Jose P. Rizal 512,561 133,822 378,739 314,520 243,768 70,752 209,258 55,249 264,507
13 Dumaran 326,853 89,401 237,452 139,110 111,377 27,733 76,031 26,475 102,505
14 El Nido - - - - - - - - -
15 Kalayaan 151,150 45,982 105,168 73,015 61,731 11,284 72,427 (4,578) 67,848
16 Linapacan - - - - - - - - -
17 Magsaysay 167,827 77,245 90,583 72,997 50,776 22,221 - - -
18 Narra 919,051 433,762 485,288 337,965 254,050 83,916 294,728 52,257 346,985
19 Quezon 767,265 336,346 430,919 283,710 213,820 69,889 315,957 120,442 436,399
20 Roxas 793,553 349,253 444,300 331,736 280,055 51,680 224,532 34,426 258,958
21 San Vicente 765,199 238,689 526,510 317,837 206,130 111,708 240,075 152,091 392,166
22 Sofronio Española 450,036 240,160 209,876 168,561 133,345 35,216 116,959 524 117,483
23 Taytay 967,763 336,059 631,704 361,581 279,876 81,705 339,998 94,848 434,846
Sub-Total 11,337,691 4,099,396 7,238,295 4,845,330 3,437,445 1,407,885 3,608,233 892,752 4,500,985
Romblon
1 Alcantara 151,422 32,994 118,427 68,412 58,912 9,500 43,179 (5,924) 37,255
2 Banton 154,126 54,066 100,060 49,038 39,956 9,082 45,211 6,991 52,202
3 Cajidiocan 346,474 57,322 289,152 97,652 65,843 31,809 183,187 14,060 197,247
Republic of the Philippines
Financial Profile - Municipalities
Calendar Year 2018
(in thousand pesos)

Region Financial Condition Financial Performance Cash Position


1 2 Net Cash
Municipalities Assets Liabilities Equity Revenue Expenses Surplus/ (Deficit) Provided by
Cash Bal. Beg. (Used In) Cash Bal. End
4 Calatrava 144,179 33,530 110,649 61,738 46,232 15,507 53,060 10,886 63,945
5 Concepcion 135,472 43,852 91,620 46,539 36,031 10,508 50,173 25,771 75,944
6 Corcuera 114,263 19,202 95,061 53,132 44,601 8,530 32,037 (2,476) 29,561
7 Ferrol 173,386 69,146 104,240 49,835 39,521 10,314 40,249 (4,114) 36,134
8 Looc 492,405 382,760 109,645 94,984 74,725 20,259 88,984 (4,678) 84,306
9 Magdiwang 245,871 58,705 187,167 83,707 73,753 9,954 65,354 (6,601) 58,753
10 Odiongan 304,497 53,294 251,204 171,897 133,637 38,260 114,373 6,213 120,586
11 Romblon 200,882 54,898 145,984 120,491 107,922 12,570 46,467 (699) 45,768
12 San Agustin 199,493 52,753 146,740 97,990 84,800 13,190 88,546 3,152 91,698
13 San Andres 237,943 91,852 146,091 72,758 52,456 20,302 65,953 (3,031) 62,922
14 San Fernando 246,477 46,507 199,970 99,541 77,989 21,552 86,300 (5,098) 81,202
15 San Jose 146,864 61,142 85,723 71,881 60,750 11,131 47,646 (3,130) 44,516
16 Santa Fe 215,426 37,803 177,623 103,108 69,562 33,546 50,118 (6,403) 43,715
17 Santa Maria 147,555 27,898 119,657 62,926 46,558 16,368 40,040 (1,713) 38,327
132

Sub-Total 3,656,734 1,177,722 2,479,013 1,405,630 1,113,247 292,383 1,140,876 23,206 1,164,082
REGIONAL TOTAL 29,172,242 9,839,992 19,332,249 12,069,701 9,234,701 2,835,000 9,385,734 1,230,813 10,616,547

Region V
Albay
1 Bacacay 647,290 129,451 517,840 167,438 106,164 61,274 291,760 33,720 325,480
2 Camalig 490,648 94,309 396,339 182,978 135,952 47,026 140,471 30,417 170,888
3 Daraga 1,260,263 473,891 786,371 337,425 260,945 76,480 237,779 23,537 261,316
4 Guinobatan 615,021 183,545 431,476 248,060 191,324 56,736 210,411 16,784 227,195
5 Jovellar 112,201 40,904 71,297 74,430 59,710 14,721 21,848 6,251 28,099
6 Libon 676,028 132,264 543,764 211,463 124,546 86,917 199,611 (36,488) 163,123
7 Malilipot 283,637 47,125 236,512 109,352 94,653 14,698 149,238 (45,456) 103,782
8 Malinao 188,669 29,117 159,552 125,405 94,756 30,649 41,520 5,774 47,293
9 Manito 397,187 76,038 321,149 128,268 82,298 45,970 167,393 (192) 167,202
10 Oas 489,728 121,765 367,963 173,216 119,165 54,051 106,225 30,383 136,608
11 Pio Duran 283,869 26,204 257,664 131,205 111,286 19,919 54,526 (18,776) 35,751
12 Polangui 739,068 183,458 555,610 247,055 199,130 47,925 120,192 19,590 139,782
13 Rapu-Rapu 372,789 38,074 334,715 132,511 97,322 35,189 247,159 (20,890) 226,270
14 Sto. Domingo 234,402 67,620 166,782 115,030 98,203 16,828 52,482 (2,200) 50,282
15 Tiwi 401,352 72,524 328,827 194,489 159,168 35,321 285,099 (15,960) 269,139
Sub-Total 7,192,151 1,716,290 5,475,862 2,578,326 1,934,623 643,703 2,325,714 26,495 2,352,209

Camarines Norte
1 Basud 429,372 106,245 323,127 138,229 101,468 36,761 85,105 823 85,928
Republic of the Philippines
Financial Profile - Municipalities
Calendar Year 2018
(in thousand pesos)

Region Financial Condition Financial Performance Cash Position


1 2 Net Cash
Municipalities Assets Liabilities Equity Revenue Expenses Surplus/ (Deficit) Provided by
Cash Bal. Beg. (Used In) Cash Bal. End
2 Capalonga 318,606 84,900 233,706 127,075 104,830 22,245 80,098 9,563 89,661
3 Daet 553,489 166,709 386,780 307,727 258,605 49,122 131,404 4,631 136,035
4 Jose Panganiban 367,801 149,665 218,135 174,494 134,462 40,032 160,153 28,371 188,524
5 Labo 872,304 247,514 624,789 316,579 235,755 80,823 260,428 (1,280) 259,148
6 Mercedes 339,955 201,127 138,828 178,012 132,204 45,807 98,193 18,140 116,333
7 Paracale 331,541 102,942 228,600 160,063 116,616 43,447 70,813 23,238 94,050
8 San Lorenzo Ruiz 219,990 56,470 163,519 75,758 55,818 19,940 33,710 18,214 51,924
9 San Vicente 127,498 56,040 71,457 57,762 56,141 1,620 18,610 (2,928) 15,682
10 Santa Elena 411,323 151,696 259,626 130,637 96,923 33,714 131,682 19,603 151,284
11 Talisay 248,479 158,497 89,982 81,535 70,913 10,622 16,966 10,753 27,719
12 Vinzons 242,244 84,626 157,618 124,645 105,812 18,833 103,964 (31,021) 72,943
Sub-Total 4,462,600 1,566,432 2,896,168 1,872,516 1,469,549 402,967 1,191,124 98,106 1,289,231
133

Camarines Sur
1 Baao 561,474 235,030 326,443 163,640 101,445 62,195 227,746 34,127 261,874
2 Balatan 248,715 52,551 196,164 96,144 85,284 10,860 69,143 (8,421) 60,722
3 Bato 390,661 217,526 173,135 130,938 118,873 12,066 46,577 (6,828) 39,749
4 Bombon 201,246 68,045 133,201 76,402 45,930 30,472 89,836 (3,666) 86,170
5 Buhi 312,078 63,592 248,486 194,185 144,158 50,027 99,562 45,560 145,122
6 Bula 480,283 189,904 290,379 176,886 143,602 33,284 81,071 13,131 94,202
7 Cabusao 118,255 40,757 77,498 67,901 53,739 14,162 58,271 (4,134) 54,137
8 Calabanga 297,963 66,958 231,004 208,917 169,120 39,797 158,718 (25,398) 133,320
9 Camaligan 172,629 36,684 135,944 72,013 59,442 12,571 43,708 (11,907) 31,801
10 Canaman 190,588 45,961 144,627 95,286 71,236 24,050 45,081 11,579 56,660
11 Caramoan 306,724 79,322 227,402 188,783 153,789 34,994 62,646 15,390 78,036
12 Del Gallego 571,412 245,521 325,891 104,946 75,853 29,093 180,458 (14,703) 165,755
13 Gainza 114,179 40,881 73,298 51,259 42,984 8,274 20,379 19,416 39,795
14 Garchitorena 372,262 111,378 260,883 121,592 90,237 31,355 108,835 7,010 115,845
15 Goa 481,081 178,800 302,281 182,375 133,471 48,903 206,949 14,098 221,047
16 Lagonoy 277,701 99,787 177,914 175,476 144,808 30,668 149,423 13,099 162,521
17 Libmanan 1,071,109 410,387 660,723 270,911 185,751 85,160 297,926 121,940 419,866
18 Lupi 284,211 84,699 199,512 117,391 79,328 38,063 138,756 22,197 160,953
19 Magarao 151,717 56,574 95,142 80,863 68,776 12,087 46,325 (5,383) 40,941
20 Milaor 628,995 162,144 466,850 107,360 96,578 10,783 43,738 3,448 47,186
21 Minalabac 544,317 78,711 465,606 138,007 87,591 50,416 224,684 17,602 242,286
22 Nabua 584,384 243,068 341,316 209,462 153,480 55,981 122,945 19,798 142,743
Republic of the Philippines
Financial Profile - Municipalities
Calendar Year 2018
(in thousand pesos)

Region Financial Condition Financial Performance Cash Position


1 2 Net Cash
Municipalities Assets Liabilities Equity Revenue Expenses Surplus/ (Deficit) Provided by
Cash Bal. Beg. (Used In) Cash Bal. End
23 Ocampo 274,455 130,471 143,983 137,400 116,254 21,146 64,850 13,002 77,852
24 Pamplona 311,127 134,124 177,002 103,042 77,099 25,943 135,498 32,462 167,960
25 Pasacao 309,091 68,933 240,158 150,043 117,650 32,393 78,156 29 78,184
26 Pili 638,070 216,282 421,787 338,226 210,782 127,445 230,737 117,018 347,755
27 Presentacion 116,520 38,507 78,013 84,988 61,382 23,606 12,818 11,539 24,357
28 Ragay 534,357 200,351 334,006 185,291 128,401 56,891 218,956 38,553 257,510
29 Sagnay 264,975 45,222 219,753 110,348 94,078 16,270 89,861 750 90,610
30 San Fernando 316,795 63,957 252,838 104,600 74,702 29,898 107,881 (22,365) 85,516
31 San Jose 187,664 52,316 135,348 104,645 85,768 18,877 44,996 (6,804) 38,191
32 Sipocot 431,722 186,986 244,735 184,734 151,396 33,338 219,720 (18,048) 201,672
33 Siruma 133,505 23,198 110,307 79,520 62,253 17,267 36,707 9,540 46,247
34 Tigaon 383,456 101,512 281,944 186,738 126,565 60,173 91,735 (21,840) 69,895
35 Tinambac 222,628 52,595 170,033 197,292 157,610 39,682 27,502 (1,648) 25,854
Sub-Total 12,486,345 4,122,736 8,363,609 4,997,604 3,769,411 1,228,193 3,882,192 430,141 4,312,334
134

Catanduanes
1 Bagamanoc 157,778 60,382 97,397 63,631 52,613 11,017 43,569 (12,274) 31,295
2 Baras 146,148 35,609 110,539 87,765 55,511 32,254 43,219 1,627 44,847
3 Bato 153,720 57,428 96,292 75,031 63,684 11,348 73,373 73 73,446
4 Caramoran 323,563 108,741 214,822 119,747 114,785 4,961 56,926 (5,014) 51,912
5 Gigmoto 99,696 32,673 67,023 72,909 59,118 13,791 48,200 (13,249) 34,950
6 Pandan 198,250 90,676 107,575 82,395 69,784 12,612 74,290 3,341 77,630
7 Panganiban 60,959 37,276 23,682 61,220 60,291 929 23,771 (3,414) 20,357
8 San Andres 296,224 91,292 204,932 120,179 95,356 24,823 93,623 (9,133) 84,490
9 San Miguel 76,877 9,304 67,573 76,765 76,495 269 45,077 (8,914) 36,162
10 Viga 143,169 54,231 88,938 91,105 72,250 18,855 93,481 (16,921) 76,560
11 Virac 582,060 93,905 488,156 228,878 191,209 37,669 279,728 (31,019) 248,710
Sub-Total 2,238,444 671,515 1,566,929 1,079,625 911,097 168,528 875,257 (94,898) 780,359

Masbate
1 Aroroy 981,311 265,233 716,077 420,257 367,978 52,279 224,341 2,288 226,630
2 Baleno 259,347 126,325 133,022 103,046 90,441 12,604 27,315 3,763 31,078
3 Balud 205,682 39,910 165,772 124,714 89,944 34,771 17,699 (7,665) 10,033
4 Batuan 163,878 78,475 85,403 63,358 49,136 14,222 44,099 (6,143) 37,955
5 Cataingan 404,422 120,596 283,826 166,328 143,030 23,298 66,640 (17,728) 48,912
6 Cawayan 438,409 89,914 348,495 178,684 162,164 16,520 72,919 (10,979) 61,940
Republic of the Philippines
Financial Profile - Municipalities
Calendar Year 2018
(in thousand pesos)

Region Financial Condition Financial Performance Cash Position


1 2 Net Cash
Municipalities Assets Liabilities Equity Revenue Expenses Surplus/ (Deficit) Provided by
Cash Bal. Beg. (Used In) Cash Bal. End
7 Claveria 391,798 127,901 263,897 144,592 107,308 37,284 150,779 23,571 174,350
8 Dimasalang 268,482 63,718 204,764 131,526 89,528 41,998 45,732 (19,255) 26,477
9 Esperanza 241,713 119,734 121,979 71,578 54,049 17,529 52,511 (18,542) 33,969
10 Mandaon 278,404 41,659 236,746 136,277 130,209 6,068 96,370 (7,232) 89,138
11 Milagros 673,537 219,599 453,938 204,244 178,167 26,077 109,932 (3,232) 106,700
12 Mobo 280,773 92,133 188,640 121,919 99,735 22,184 75,585 (8,456) 67,129
13 Monreal 195,029 49,780 145,250 93,169 84,215 8,954 47,195 (5,009) 42,187
14 Palanas 244,861 61,912 182,949 102,503 88,065 14,438 56,108 1,593 57,701
15 Pio V. Corpuz 153,309 56,650 96,659 86,122 85,860 263 50,809 (20,703) 30,106
16 Placer 267,297 61,310 205,988 154,758 123,335 31,424 80,373 12,689 93,062
17 San Fernando 202,142 23,771 178,370 82,700 68,952 13,748 19,769 (3,543) 16,226
18 San Jacinto 297,811 85,575 212,237 99,532 75,076 24,456 136,326 6,328 142,655
19 San Pascual 382,550 77,799 304,751 161,660 118,212 43,448 156,372 32,102 188,474
20 Uson 424,721 141,802 282,919 148,112 104,770 43,342 157,357 28,736 186,093
Sub-Total 6,755,477 1,943,795 4,811,682 2,795,079 2,310,172 484,907 1,688,232 (17,416) 1,670,816
135

Sorsogon
1 Barcelona 191,128 45,169 145,959 88,812 85,465 3,347 38,430 (1,239) 37,192
2 Bulan 596,566 277,244 319,323 307,997 200,186 107,811 128,134 (12,796) 115,337
3 Bulusan 164,055 20,036 144,019 91,294 80,158 11,137 14,981 6,118 21,099
4 Casiguran 284,043 112,784 171,259 105,710 86,204 19,506 26,708 1,309 28,017
5 Castila 367,049 136,070 230,980 169,378 137,826 31,552 131,871 33,206 165,077
6 Donsol 367,080 127,062 240,018 168,990 150,130 18,860 174,241 21,005 195,245
7 Gubat 426,676 170,606 256,070 160,772 140,047 20,725 101,314 (14,284) 87,030
8 Irosin 389,262 159,238 230,024 205,012 168,568 36,444 87,279 5,131 92,410
9 Juban 302,796 113,932 188,864 126,636 93,941 32,695 70,050 (873) 69,177
10 Magallanes 296,783 80,214 216,569 122,016 107,030 14,986 77,704 2,131 79,835
11 Matnog 191,116 118,334 72,781 145,342 130,251 15,091 33,594 (27,326) 6,268
12 Pilar 632,344 117,032 515,312 239,577 222,916 16,661 122,159 18,653 140,812
13 Prieto Diaz 197,294 78,726 118,567 101,946 78,209 23,737 95,435 8,030 103,464
14 Sta. Magdalena 177,240 48,046 129,194 68,723 61,427 7,297 24,077 2,409 26,486
Sub-Total 4,583,431 1,604,492 2,978,940 2,102,205 1,742,359 359,847 1,125,977 41,473 1,167,450
REGIONAL TOTAL 37,718,448 11,625,259 26,093,189 15,425,356 12,137,213 3,288,143 11,088,496 483,901 11,572,398

Region VI
Aklan
1 Altavas 251,691 80,003 171,688 100,575 75,753 24,822 80,041 (6,409) 73,632
Republic of the Philippines
Financial Profile - Municipalities
Calendar Year 2018
(in thousand pesos)

Region Financial Condition Financial Performance Cash Position


1 2 Net Cash
Municipalities Assets Liabilities Equity Revenue Expenses Surplus/ (Deficit) Provided by
Cash Bal. Beg. (Used In) Cash Bal. End

2 Balete 287,942 60,791 227,151 102,970 85,896 17,074 52,438 3,506 55,944
3 Banga 226,116 68,016 158,100 116,157 95,872 20,284 63,898 2,351 66,249
4 Batan 204,717 74,383 130,333 101,466 78,890 22,576 101,373 15,941 117,314
5 Buruanga 196,281 57,667 138,615 87,861 64,662 23,198 57,793 12,887 70,680
6 Ibajay 380,498 83,223 297,275 176,108 119,545 56,562 126,348 (1,111) 125,237
7 Kalibo 895,970 211,494 684,476 365,159 291,121 74,038 197,743 (3,206) 194,537
8 Lezo 105,076 18,297 86,779 60,148 42,245 17,902 38,894 (874) 38,020
9 Libacao 348,658 241,340 107,318 117,459 93,532 23,927 92,668 69,608 162,275
10 Madalag 157,432 64,342 93,090 102,005 83,186 18,819 87,895 (4,643) 83,252
11 Makato 221,151 34,994 186,157 88,921 77,120 11,800 89,662 (13,380) 76,282
12 Malay 1,159,855 327,298 832,557 486,384 428,754 57,630 553,460 34,438 587,898
13 Malinao 403,610 136,683 266,927 99,878 67,201 32,677 143,120 2,068 145,188
14 Nabas 263,257 47,845 215,412 123,967 102,134 21,834 165,094 (18,338) 146,756
136

15 New Washington 340,689 77,148 263,541 125,229 96,391 28,838 114,296 16,633 130,929
16 Numancia 306,268 74,015 232,253 120,346 81,792 38,554 94,507 4,825 99,331
17 Tangalan 224,167 56,326 167,841 103,915 65,473 38,441 73,190 (328) 72,862
Sub-Total 5,973,378 1,713,865 4,259,513 2,478,548 1,949,568 528,980 2,132,418 113,969 2,246,387

Antique
1 Anini-y 114,211 45,227 68,984 85,409 80,391 5,018 50,739 9,289 60,028
2 Barbaza 151,066 48,793 102,274 94,145 82,627 11,517 85,671 (14,318) 71,353
3 Belison 150,750 58,382 92,368 63,393 47,067 16,326 37,569 24,409 61,978
4 Bugasong 282,091 112,587 169,504 133,869 113,849 20,020 79,580 14,731 94,311
5 Caluya 2,161,141 409,724 1,751,417 1,002,888 337,739 665,149 685,970 356,289 1,042,259
6 Culasi 361,672 160,190 201,482 139,348 110,310 29,038 121,837 24,578 146,415
7 Hamtic 304,545 118,400 186,145 164,443 109,977 54,466 96,307 (3,046) 93,261
8 Laua-an 224,261 51,839 172,423 91,732 68,128 23,604 125,581 (1,497) 124,084
9 Libertad 131,061 62,704 68,357 72,367 60,590 11,777 54,900 8,063 62,963
10 Pandan 269,386 140,952 128,433 117,055 91,002 26,053 89,835 (1,143) 88,692
11 Patnongon 201,458 24,910 176,548 127,521 96,765 30,756 78,767 (7,123) 71,645
12 San Jose de Bautista 452,131 116,824 335,306 240,793 197,294 43,499 161,531 14,385 175,916
13 San Remegio 279,008 207,929 71,079 146,877 119,693 27,184 105,538 21,346 126,884
14 Sebaste 292,268 152,526 139,742 94,682 77,485 17,197 82,605 (10,749) 71,856
15 Sibalom 437,109 114,393 322,716 184,439 147,210 37,229 151,924 11,506 163,429
16 Tibiao 232,605 95,333 137,272 105,310 95,543 9,767 125,531 27,071 152,602
Republic of the Philippines
Financial Profile - Municipalities
Calendar Year 2018
(in thousand pesos)

Region Financial Condition Financial Performance Cash Position


1 2 Net Cash
Municipalities Assets Liabilities Equity Revenue Expenses Surplus/ (Deficit) Provided by
Cash Bal. Beg. (Used In) Cash Bal. End
17 Tobias Fornier 231,304 73,053 158,250 106,598 89,619 16,979 95,222 494 95,715
18 Valderrama 236,464 103,918 132,546 113,871 88,133 25,738 87,141 9,593 96,734
Sub-Total 6,512,531 2,097,686 4,414,845 3,084,740 2,013,422 1,071,318 2,316,247 483,878 2,800,125

Capiz
1 Cuartero 217,332 52,947 164,385 122,294 84,929 37,365 38,378 2,539 40,917
2 Dao 89,927 19,546 70,381 100,601 82,894 17,707 29,856 9,771 39,626
3 Dumalag 311,785 74,993 236,792 96,843 82,621 14,223 60,527 (3,046) 57,481
4 Dumarao 256,236 46,091 210,145 149,134 122,603 26,531 74,017 (13,867) 60,149
5 Ivisan 262,767 80,558 182,209 94,440 73,439 21,001 126,450 7,667 134,117
6 Jamindan 224,865 63,596 161,269 152,533 125,564 26,969 55,016 7,865 62,880
7 Maayon 292,400 58,453 233,947 152,642 87,156 65,486 87,305 (38,568) 48,737
8 Mambusao 401,719 186,398 215,322 122,949 96,517 26,431 43,269 (12,900) 30,369
9 Panay 233,400 92,200 141,201 133,235 105,311 27,924 86,159 (14,567) 71,591
137

10 Panitan 147,788 51,188 96,600 112,678 99,569 13,109 68,488 (29,258) 39,230
11 Pilar 303,126 65,242 237,884 133,385 95,426 37,959 48,005 (3,711) 44,294
12 Pontevedra 203,597 43,980 159,617 133,560 114,772 18,788 66,235 (27,057) 39,178
13 President Roxas 387,155 166,191 220,965 132,257 100,916 31,340 75,442 (313) 75,129
14 Sapian 208,796 45,761 163,035 91,365 79,542 11,823 65,288 (969) 64,320
15 Sigma 200,410 59,063 141,347 103,872 90,621 13,251 68,105 (16,234) 51,871
16 Tapaz 333,120 102,544 230,576 231,937 196,263 35,674 140,163 (17,427) 122,735
Sub-Total 4,074,425 1,208,751 2,865,674 2,063,724 1,638,143 425,581 1,132,701 (150,077) 982,624

Guimaras
1 Buenavista 322,576 141,587 180,989 151,510 129,659 21,851 87,509 63,816 151,325
2 Jordan 257,492 102,796 154,696 129,008 110,573 18,436 99,741 14,657 114,398
3 Nueva Valencia 294,615 62,201 232,414 121,757 99,795 21,962 89,336 (13,658) 75,678
4 San Lorenzo 196,843 98,189 98,654 113,525 91,711 21,815 99,774 (4,752) 95,023
5 Sibunag 238,425 95,133 143,292 85,771 70,332 15,440 74,807 9,815 84,622
Sub-Total 1,309,951 499,906 810,045 601,572 502,068 99,504 451,167 69,878 521,045

Iloilo
1 Ajuy 313,042 93,849 219,193 143,728 105,009 38,719 168,801 42,730 211,531
2 Alimodian 261,181 65,867 195,314 128,690 104,242 24,448 36,312 8,301 44,614
3 Anilao 236,743 98,003 138,740 97,976 80,877 17,099 73,343 (12,315) 61,028
4 Badiangan 220,083 89,033 131,050 88,999 68,527 20,472 95,209 15,405 110,615
5 Balasan 291,215 91,906 199,309 120,055 75,576 44,479 134,710 33,902 168,612
6 Banate 235,216 57,417 177,799 113,613 83,406 30,208 89,908 6,843 96,750
Republic of the Philippines
Financial Profile - Municipalities
Calendar Year 2018
(in thousand pesos)

Region Financial Condition Financial Performance Cash Position


1 2 Net Cash
Municipalities Assets Liabilities Equity Revenue Expenses Surplus/ (Deficit) Provided by
Cash Bal. Beg. (Used In) Cash Bal. End
7 Barotac Nuevo - - - - - - - - -
8 Barotac Viejo - - - - - - - - -
9 Batad 219,125 57,450 161,676 75,110 51,496 23,614 116,102 17,610 133,712
10 Bingawan 182,212 46,287 135,925 71,109 71,756 (647) 28,417 10,609 39,026
11 Cabatuan 417,780 172,876 244,904 189,343 142,511 46,832 130,357 8,901 139,258
12 Calinog 425,534 139,401 286,134 275,692 199,355 76,337 138,168 (4,755) 133,414
13 Carles 469,017 240,154 228,864 190,193 138,360 51,833 50,658 92,355 143,013
14 Concepcion 294,785 136,510 158,275 129,078 105,581 23,497 112,525 12,753 125,278
15 Dingle 598,658 126,122 472,536 153,001 105,500 47,501 107,387 (14,982) 92,405
16 Dueñas 255,602 82,020 173,582 108,033 86,357 21,677 99,926 11,078 111,004
17 Dumangas 493,691 109,749 383,942 181,514 145,967 35,547 173,590 17,701 191,291
18 Estancia 247,560 103,363 144,197 145,055 104,996 40,059 112,526 8,919 121,446
19 Guimbal 315,082 69,248 245,834 110,006 67,000 43,007 172,324 11,594 183,918
20 Igbaras 307,114 87,949 219,164 110,110 77,942 32,168 131,398 (1,690) 129,707
21 Janiuay 442,250 103,457 338,793 182,385 144,243 38,142 161,884 45,639 207,523
138

22 Lambunao 525,886 224,847 301,039 210,308 159,692 50,616 109,647 61,474 171,121
23 Leganes 287,523 101,005 186,517 115,544 81,780 33,763 82,952 29,246 112,198
24 Lemery 275,723 89,801 185,922 101,429 83,881 17,548 133,249 7,820 141,069
25 Leon 454,033 99,441 354,591 152,910 109,521 43,389 189,806 14,203 204,010
26 Maasin 273,503 91,052 182,451 116,706 82,179 34,527 130,147 16,856 147,003
27 Miag-ao 522,832 174,697 348,135 187,013 133,963 53,050 204,270 27,225 231,495
28 Mina 399,072 130,113 268,959 87,735 61,229 26,506 83,670 (13,302) 70,368
29 New Lucena - - - - - - - - -
30 Oton 737,397 233,121 504,275 253,839 168,013 85,826 233,080 46,264 279,344
31 Pavia 719,952 210,061 509,891 248,820 137,646 111,174 295,561 60,083 355,644
32 Pototan 577,833 195,256 382,577 206,412 134,732 71,680 265,825 56,355 322,180
33 San Dionisio 288,487 102,084 186,404 121,055 85,458 35,597 110,988 16,833 127,821
34 San Enrique 118,368 66,091 52,277 116,812 107,410 9,402 34,765 18,091 52,856
35 San Joaquin 540,353 115,900 424,453 160,332 88,411 71,922 325,300 35,905 361,205
36 San Miguel 348,970 102,640 246,330 102,558 68,034 34,524 144,372 26,877 171,248
37 San Rafael 284,630 106,234 178,396 96,809 47,341 49,467 100,263 20,758 121,021
38 Sara 182,889 102,240 80,649 152,566 141,961 10,605 30,606 (3,712) 26,894
39 Sta. Barbara 554,751 209,186 345,565 195,860 129,476 66,384 205,110 33,501 238,610
40 Tigbauan 412,829 112,400 300,429 160,131 116,218 43,913 162,060 42,463 204,523
41 Tubungan 218,452 57,400 161,052 85,372 65,689 19,684 68,007 1,632 69,639
42 Zarraga 310,724 117,401 193,322 95,681 79,273 16,409 62,783 (8,043) 54,740
Sub-Total 14,260,098 4,611,633 9,648,465 5,581,582 4,040,607 1,540,976 5,106,008 801,125 5,907,133
REGIONAL TOTAL 32,130,383 10,131,841 21,998,542 13,810,166 10,143,808 3,666,358 11,138,541 1,318,772 12,457,314
Republic of the Philippines
Financial Profile - Municipalities
Calendar Year 2018
(in thousand pesos)

Region Financial Condition Financial Performance Cash Position


1 2 Net Cash
Municipalities Assets Liabilities Equity Revenue Expenses Surplus/ (Deficit) Provided by
Cash Bal. Beg. (Used In) Cash Bal. End

Region VII

Bohol
1 Albuquerque 144,357 44,933 99,423 64,397 45,204 19,193 75,469 5,986 81,456
2 Alicia 280,472 97,444 183,028 108,882 92,060 16,822 98,352 15,613 113,965
3 Anda 160,911 44,833 116,078 80,769 78,886 1,883 46,255 (7,423) 38,833
4 Antequera 235,297 83,285 152,012 105,843 92,667 13,176 55,948 (5,642) 50,305
5 Baclayon 130,450 49,813 80,637 88,410 80,247 8,162 85,182 (4,897) 80,284
6 Balilihan 269,794 112,221 157,573 120,980 101,621 19,359 120,119 (1,350) 118,769
7 Batuan 239,842 82,150 157,692 65,879 51,655 14,224 136,549 (1,720) 134,829
8 Bien Unido 148,707 22,690 126,017 99,721 89,560 10,161 47,743 (18,413) 29,329
9 Bilar 189,083 52,497 136,585 106,574 94,258 12,316 54,754 (4,143) 50,612
10 Buenavista 296,977 112,752 184,226 158,968 131,877 27,091 70,637 17,937 88,574
139

11 Calape 371,349 52,450 318,898 185,310 154,812 30,498 104,067 (7,068) 96,999
12 Candijay 177,071 59,154 117,917 149,059 138,025 11,035 38,860 (2,907) 35,953
13 Carmen 619,671 217,835 401,837 267,231 234,041 33,190 198,878 43,337 242,215
14 Catigbian 374,979 69,380 305,599 203,304 86,974 116,329 133,353 4,674 138,027
15 Clarin 298,601 75,850 222,750 89,549 79,977 9,572 55,032 264 55,296
16 Corella 112,327 29,097 83,230 62,674 49,693 12,981 45,780 1,795 47,575
17 Cortes 175,921 46,917 129,004 81,878 61,687 20,191 94,163 19,050 113,213
18 Dagohoy 204,081 91,230 112,851 92,815 88,123 4,692 66,703 430 67,132
19 Danao 289,066 142,231 146,835 124,005 96,116 27,889 104,401 4,395 108,796
20 Dauis 314,598 56,957 257,641 142,003 103,815 38,188 143,559 27,465 171,024
21 Dimiao 252,760 88,597 164,163 83,946 59,720 24,226 84,563 30,457 115,020
22 Duero 176,576 34,525 142,051 96,233 72,549 23,684 72,973 (14,940) 58,034
23 Garcia-Hernandez 194,309 42,166 152,143 105,346 78,519 26,827 98,263 (13,188) 85,075
24 Getafe 290,303 75,510 214,793 117,095 86,249 30,846 132,556 20,506 153,062
25 Guindulman 433,950 129,022 304,928 127,912 114,788 13,124 111,287 (5,517) 105,770
26 Inabanga 613,812 209,466 404,346 165,566 98,296 67,270 189,888 36,952 226,840
27 Jagna 240,109 59,073 181,036 146,262 117,284 28,978 109,566 14,696 124,262
28 Lila 180,074 57,788 122,286 80,460 62,353 18,108 56,810 357 57,167
29 Loay 169,668 67,872 101,796 80,653 64,713 15,940 90,249 2,314 92,563
30 Loboc 268,287 70,227 198,060 166,476 122,900 43,577 106,076 39,919 145,995
31 Loon 598,353 168,161 430,192 188,692 117,936 70,756 266,706 13,464 280,170
32 Mabini 252,637 53,056 199,581 126,674 108,245 18,429 71,062 1,040 72,102
33 Maribojoc 295,756 112,917 182,838 158,340 79,105 79,235 122,177 (13,880) 108,298
Republic of the Philippines
Financial Profile - Municipalities
Calendar Year 2018
(in thousand pesos)

Region Financial Condition Financial Performance Cash Position


1 2 Net Cash
Municipalities Assets Liabilities Equity Revenue Expenses Surplus/ (Deficit) Provided by
Cash Bal. Beg. (Used In) Cash Bal. End
34 Panglao 580,546 142,524 438,021 191,771 125,381 66,391 238,340 39,750 278,090
35 Pilar 248,627 138,494 110,133 125,440 105,586 19,854 77,008 13,803 90,811
36 President Carlos P. Garcia 186,248 53,450 132,797 114,651 102,792 11,859 54,945 7,383 62,328
37 Sagbayan 313,899 43,521 270,377 111,392 107,845 3,547 48,812 (12,682) 36,129
38 San Isidro 203,349 87,461 115,888 57,442 52,444 4,999 54,614 13,703 68,317
39 San Miguel 247,996 82,670 165,325 103,345 94,725 8,621 73,742 18,412 92,154
40 Sevilla 315,299 96,246 219,053 154,570 61,124 93,445 87,056 (13,485) 73,571
41 Sierra-Bullones 332,599 82,582 250,016 134,014 115,439 18,576 76,108 (7,891) 68,217
42 Sikatuna 168,273 52,760 115,513 63,022 54,129 8,893 64,097 (6,558) 57,538
43 Talibon 549,805 106,532 443,273 286,101 233,312 52,789 175,580 (9,532) 166,048
44 Trinidad 368,114 79,771 288,343 206,294 157,762 48,532 147,314 (19,482) 127,832
45 Tubigon 571,904 141,899 430,005 222,278 199,148 23,130 97,087 18,924 116,011
46 Ubay 437,918 137,070 300,848 275,117 211,321 63,796 191,611 10,548 202,159
47 Valencia 463,574 56,463 407,111 114,958 77,356 37,602 186,948 27,788 214,735
140

Sub-Total 13,988,297 4,013,544 9,974,753 6,202,302 4,832,318 1,369,985 4,861,242 280,244 5,141,486

Cebu
1 Alcantara 187,949 49,320 138,629 64,101 48,533 15,567 85,597 (5,050) 80,547
2 Alcoy 313,535 73,349 240,186 87,396 59,844 27,552 152,559 (424) 152,134
3 Alegria 245,392 62,431 182,960 189,958 149,337 40,621 79,257 (9,178) 70,079
4 Aloquinsan 245,473 61,143 184,330 95,103 65,336 29,767 142,579 18,358 160,937
5 Argao - - - - - - - - -
6 Asturias 396,330 143,217 253,113 180,345 154,883 25,462 121,877 29,974 151,851
7 Badian 471,571 135,217 336,354 166,882 109,454 57,428 211,645 42,087 253,732
8 Balamban 1,222,838 214,328 1,008,511 421,616 285,517 136,099 389,329 53,486 442,816
9 Bantayan 452,997 114,258 338,739 232,482 199,271 33,211 216,831 (42,117) 174,714
10 Barili 435,662 150,212 285,450 205,987 175,410 30,577 152,089 22,096 174,185
11 Boljo-on 292,698 105,635 187,063 85,147 58,684 26,463 112,228 22,228 134,456
12 Borbon - - - - - - - - -
13 Carmen 535,127 98,872 436,255 175,399 118,662 56,736 201,402 26,371 227,773
14 Catmon 364,077 57,461 306,616 111,248 67,978 43,271 211,341 7,221 218,562
15 Compostela 379,234 103,273 275,961 159,728 114,040 45,688 111,691 50,890 162,581
16 Consolacion - - - - - - - - -
17 Cordova - - - - - - - - -
18 Daan Bantayan 526,204 111,798 414,406 228,428 171,936 56,492 242,423 50,967 293,389
19 Dalaguete 517,126 172,629 344,497 192,590 163,247 29,343 116,288 18,554 134,842
Republic of the Philippines
Financial Profile - Municipalities
Calendar Year 2018
(in thousand pesos)

Region Financial Condition Financial Performance Cash Position


1 2 Net Cash
Municipalities Assets Liabilities Equity Revenue Expenses Surplus/ (Deficit) Provided by
Cash Bal. Beg. (Used In) Cash Bal. End
20 Dumanjug 438,620 138,165 300,455 170,920 132,705 38,215 155,137 26,104 181,241
21 Ginatilan 200,145 51,034 149,111 84,725 65,909 18,815 63,603 (3,842) 59,761
22 Liloan 836,464 312,001 524,462 317,792 242,596 75,195 261,243 57,156 318,398
23 Madridejos - - - - - - - - -
24 Malabuyoc 264,145 90,517 173,628 140,831 104,935 35,896 84,345 49,341 133,686
25 Medellin 305,516 140,931 164,585 206,889 195,598 11,291 54,868 (8,334) 46,534
26 Minglanilla 1,262,800 244,634 1,018,166 379,879 174,445 205,434 671,841 112,664 784,505
27 Moalboal - - - - - - - - -
28 Oslob 784,598 92,442 692,156 282,106 103,373 178,733 440,989 165,623 606,612
29 Pilar 178,477 65,910 112,567 59,856 46,531 13,325 66,778 12,720 79,498
30 Pinamungahan 574,107 153,160 420,947 202,258 136,670 65,587 212,425 20,907 233,333
31 Poro 276,467 141,647 134,820 123,812 97,295 26,517 72,465 21,046 93,512
32 Ronda - - - - - - - - -
33 Samboan 289,541 36,914 252,628 106,994 69,391 37,602 80,617 5,474 86,091
141

34 San Fernando 544,166 84,458 459,707 225,926 174,763 51,162 181,805 25,182 206,987
35 San Francisco - - - - - - - - -
36 San Remegio 337,814 131,478 206,336 183,555 175,047 8,508 60,915 1,646 62,561
37 Santa Fe 241,992 46,780 195,212 114,810 93,713 21,097 85,412 (10,961) 74,451
38 Santander 265,281 73,971 191,310 145,114 108,748 36,365 82,969 18,483 101,453
39 Sibonga 465,145 60,763 404,381 161,474 116,283 45,191 165,418 27,144 192,561
40 Sogod 345,526 55,645 289,882 155,902 111,593 44,310 92,531 (20,857) 71,675
41 Tabogon 271,716 97,628 174,088 142,656 128,364 14,291 37,730 (5,679) 32,051
42 Tabuelan 341,722 130,182 211,540 166,425 103,567 62,858 160,819 (2,681) 158,138
43 Tuburan 653,527 288,127 365,400 190,194 155,518 34,677 266,632 50,758 317,390
44 Tudela 121,244 41,642 79,601 81,124 69,349 11,775 12,309 25,801 38,110
Sub-Total 15,585,225 4,131,172 11,454,053 6,239,650 4,548,529 1,691,121 5,857,987 853,158 6,711,146

Siquijor
1 Enrique Villanueva 106,382 52,546 53,836 49,519 42,192 7,327 48,364 15,661 64,025
2 Larena 224,359 108,148 116,211 102,024 83,841 18,182 76,339 12,492 88,832
3 Lazi - - - - - - - - -
4 Maria 100,450 41,278 59,172 67,804 57,766 10,038 56,314 18,627 74,941
5 San Juan 225,995 73,518 152,477 70,719 58,620 12,099 127,860 11,879 139,739
6 Siquijor 294,319 80,694 213,625 122,241 93,930 28,311 88,687 23,411 112,098
Sub-Total 951,506 356,183 595,322 412,306 336,348 75,958 397,563 82,071 479,634
REGIONAL TOTAL 30,525,028 8,500,899 22,024,128 12,854,258 9,717,195 3,137,063 11,116,792 1,215,473 12,332,266
Republic of the Philippines
Financial Profile - Municipalities
Calendar Year 2018
(in thousand pesos)

Region Financial Condition Financial Performance Cash Position


1 2 Net Cash
Municipalities Assets Liabilities Equity Revenue Expenses Surplus/ (Deficit) Provided by
Cash Bal. Beg. (Used In) Cash Bal. End

Region VIII

Biliran
1 Almeria 152,917 58,976 93,941 80,446 78,280 2,165 38,975 12,498 51,473
2 Biliran 208,606 80,618 127,989 78,741 57,975 20,766 81,041 10,997 92,038
3 Cabucgayan 182,746 83,536 99,210 98,954 88,487 10,467 23,387 21,837 45,225
4 Caibiran 193,115 126,036 67,079 90,513 72,533 17,980 60,974 15,421 76,395
5 Culaba 148,085 96,219 51,866 89,443 79,380 10,064 26,321 12,830 39,151
6 Kawayan 178,353 61,558 116,795 89,471 77,718 11,753 40,048 3,823 43,871
7 Maripipi 145,509 70,706 74,803 54,220 41,011 13,209 79,294 19,386 98,680
8 Naval 283,384 99,209 184,176 171,717 168,513 3,204 61,483 22,005 83,488
Sub-Total 1,492,717 676,858 815,859 753,506 663,898 89,608 411,523 118,797 530,320

Eastern Samar
142

1 Arteche 190,789 55,256 135,533 120,902 85,525 35,377 25,480 3,762 29,242
2 Balangiga 277,988 76,710 201,278 142,398 72,661 69,738 67,542 24,150 91,692
3 Balangkayan 172,449 111,741 60,708 81,006 77,183 3,823 17,200 30,234 47,434
4 Can-avid 348,995 164,109 184,885 110,113 79,326 30,788 48,126 7,628 55,754
5 Dolores 505,187 236,984 268,204 149,409 140,827 8,582 106,873 (37,860) 69,013
6 Gen. Mcarthur 184,660 23,246 161,414 80,518 60,644 19,874 78,802 (10,965) 67,838
7 Giporlos 247,804 68,350 179,454 66,247 51,700 14,547 45,386 (14,423) 30,964
8 Guiuan 651,182 95,960 555,222 159,079 122,985 36,094 176,774 (63,339) 113,436
9 Hernani 172,387 32,857 139,530 91,045 50,487 40,558 51,388 (5,515) 45,873
10 Jipapad 109,997 24,706 85,291 81,457 72,335 9,122 71,649 (21,559) 50,090
11 Lawa-an 206,470 123,459 83,011 79,298 69,068 10,230 45,125 4,774 49,898
12 Llorente 420,445 129,891 290,555 239,481 142,163 97,318 199,189 (57,383) 141,806
13 Maslog 166,849 43,338 123,511 77,003 48,840 28,163 53,318 22,951 76,268
14 Maydolong 197,355 65,709 131,646 119,105 98,859 20,247 60,866 17,991 78,857
15 Mercedes 117,076 44,236 72,839 43,882 26,115 17,767 69,504 4,692 74,196
16 Oras 160,974 86,396 74,577 157,728 145,994 11,734 23,145 14,479 37,624
17 Quinapondan 251,346 142,278 109,067 109,633 73,528 36,105 61,606 6,720 68,326
18 Salcedo 159,147 44,665 114,482 103,677 76,108 27,569 52,679 (2,646) 50,033
19 San Julian 220,224 62,195 158,029 118,776 112,724 6,052 71,592 8,299 79,890
20 San Policarpio 154,111 62,885 91,226 66,080 49,297 16,784 60,756 2,694 63,450
21 Sulat 177,068 46,397 130,671 106,835 96,756 10,079 56,441 (4,825) 51,616
22 Taft 171,119 51,033 120,086 116,420 81,016 35,404 60,332 (1,020) 59,312
Sub-Total 5,263,620 1,792,402 3,471,218 2,420,095 1,834,142 585,953 1,503,773 (71,161) 1,432,612
Republic of the Philippines
Financial Profile - Municipalities
Calendar Year 2018
(in thousand pesos)

Region Financial Condition Financial Performance Cash Position


1 2 Net Cash
Municipalities Assets Liabilities Equity Revenue Expenses Surplus/ (Deficit) Provided by
Cash Bal. Beg. (Used In) Cash Bal. End

Leyte
1 Abuyog 840,660 181,301 659,358 326,860 252,578 74,282 199,230 25,311 224,540
2 Alang-alang 530,854 273,120 257,734 187,736 151,379 36,357 147,504 41,317 188,821
3 Albuera 519,496 80,137 439,359 179,191 112,536 66,655 228,771 41,624 270,395
4 Babatngon 223,514 102,361 121,153 116,349 97,137 19,212 88,997 33,525 122,522
5 Barugo 279,730 117,076 162,654 116,900 103,899 13,001 103,119 18,432 121,551
6 Bato 275,282 78,786 196,496 155,482 145,300 10,181 64,637 (27,873) 36,764
7 Burauen 643,877 179,399 464,478 218,008 153,360 64,649 278,846 14,726 293,572
8 Calubian 233,017 136,292 96,725 113,424 89,478 23,946 26,115 5,925 32,040
9 Capoocan 428,807 125,828 302,980 119,187 89,016 30,171 204,871 (3,695) 201,176
10 Carigara 489,511 135,060 354,451 151,649 99,524 52,125 184,652 41,428 226,081
11 Dagami 353,732 66,066 287,666 191,575 114,355 77,220 134,042 (16,528) 117,514
12 Dulag 378,556 86,639 291,917 143,648 105,326 38,322 165,014 (3,862) 161,151
13 Hilongos 644,640 122,673 521,967 238,138 175,769 62,369 137,394 7,865 145,259
143

14 Hindang 344,679 92,223 252,457 120,556 98,666 21,890 158,267 (18,787) 139,480
15 Inopacan 243,403 72,264 171,139 151,983 135,617 16,366 94,435 (8,048) 86,387
16 Isabel 697,533 378,052 319,481 276,468 244,144 32,324 77,965 (2,328) 75,637
17 Jaro 534,093 173,052 361,042 232,320 128,261 104,059 142,380 (21,636) 120,744
18 Javier 648,432 332,443 315,988 192,373 177,709 14,664 155,425 (27,144) 128,281
19 Julita 295,441 99,340 196,100 96,576 62,387 34,189 92,675 (26,149) 66,526
20 Kananga 1,186,594 579,164 607,430 274,518 217,010 57,507 325,607 646 326,253
21 La Paz 274,041 135,954 138,088 80,194 69,519 10,674 73,965 265 74,230
22 Leyte 447,586 176,996 270,590 136,791 107,152 29,639 151,510 56,883 208,393
23 Mahaplag 266,595 162,851 103,744 114,703 101,942 12,761 61,450 4,103 65,553
24 Matag-ob 267,392 70,882 196,510 85,990 71,898 14,093 113,623 7,343 120,966
25 Matalom 394,939 134,636 260,303 127,937 97,297 30,640 164,104 11,144 175,248
26 Mayorga 148,221 42,844 105,377 68,931 76,735 (7,804) 44,104 8,711 52,815
27 McArthur 131,759 21,815 109,944 95,871 94,241 1,630 33,894 (18,689) 15,205
28 Merida 269,950 100,130 169,821 103,895 78,818 25,077 116,511 21,391 137,902
29 Palo 809,226 311,009 498,217 185,162 144,667 40,495 368,103 70,180 438,283
30 Palompon 599,868 226,525 373,343 238,233 185,847 52,386 122,433 5,470 127,903
31 Pastrana 221,515 105,242 116,273 74,148 55,508 18,639 51,945 24,369 76,314
32 San Isidro 431,455 239,993 191,462 184,902 122,137 62,764 48,919 46,713 95,632
33 San Miguel 285,139 105,615 179,525 85,265 62,425 22,840 62,697 31,476 94,174
34 Sta. Fe 218,418 38,885 179,533 80,655 60,740 19,915 85,639 5,712 91,351
35 Tabango 359,573 147,916 211,658 176,191 105,630 70,561 47,119 28,447 75,567
36 Tabon-Tabon 135,146 66,227 68,919 56,687 52,477 4,210 75,884 (11,260) 64,624
37 Tanauan 469,594 105,448 364,147 173,794 138,571 35,223 190,120 19,964 210,084
Republic of the Philippines
Financial Profile - Municipalities
Calendar Year 2018
(in thousand pesos)

Region Financial Condition Financial Performance Cash Position


1 2 Net Cash
Municipalities Assets Liabilities Equity Revenue Expenses Surplus/ (Deficit) Provided by
Cash Bal. Beg. (Used In) Cash Bal. End
38 Tolosa 202,102 60,340 141,762 73,338 58,860 14,478 33,737 9,220 42,958
39 Tunga 134,797 67,696 67,101 51,117 38,437 12,681 16,084 25,638 41,722
40 Vilaba 301,790 153,129 148,660 144,309 122,981 21,327 141,092 (11,818) 129,274
Sub-Total 16,160,958 5,885,408 10,275,549 5,941,052 4,599,333 1,341,719 5,012,879 410,013 5,422,892

Northern Samar
1 Allen 284,569 144,961 139,608 99,317 84,325 14,992 7,509 7,704 15,212
2 Biri 146,021 58,055 87,966 61,358 51,539 9,818 44,162 3,403 47,565
3 Bobon 292,445 98,192 194,253 157,657 139,096 18,560 41,825 12,419 54,244
4 Capul 136,338 39,313 97,025 58,754 49,516 9,238 37,509 (2,324) 35,185
5 Catarman 762,223 155,299 606,924 408,266 356,835 51,431 81,918 (6,479) 75,439
6 Catubig 293,401 107,928 185,473 175,038 153,098 21,940 161,383 9,449 170,831
7 Gamay 346,925 117,335 229,590 107,928 87,893 20,036 50,406 (7,175) 43,232
8 Laoang 518,557 150,306 368,252 186,502 115,635 70,867 212,703 44,087 256,790
144

9 Lapinig 127,656 24,269 103,386 106,879 84,386 22,492 53,871 (5,165) 48,707
10 Las Navas 338,599 139,110 199,488 169,304 128,586 40,718 93,193 16,341 109,534
11 Lavezares 264,431 58,629 205,802 97,072 74,072 22,999 64,540 (9,813) 54,726
12 Lope de Vega 189,174 50,272 138,902 123,505 86,947 36,558 58,345 817 59,162
13 Mapanas 249,688 42,776 206,912 79,789 68,302 11,487 70,359 (10,355) 60,004
14 Mondragon 436,943 129,814 307,129 153,958 94,054 59,904 181,013 4,453 185,467
15 Palapag 371,510 88,412 283,098 132,873 93,261 39,611 141,835 14,632 156,467
16 Pambujan 224,684 42,572 182,113 117,964 104,879 13,085 87,338 (17,701) 69,637
17 Rosario 121,359 70,215 51,144 51,949 43,917 8,032 27,023 12,309 39,332
18 San Antonio 99,918 50,443 49,475 50,522 39,861 10,661 49,781 (3,188) 46,592
19 San Isidro 325,952 112,317 213,635 122,316 99,312 23,005 88,569 3,749 92,318
20 San Jose 155,961 42,772 113,189 74,145 64,714 9,431 68,325 (2,793) 65,532
21 San Roque 242,615 50,083 192,531 115,182 89,481 25,701 102,870 (9,041) 93,828
22 San Vicente 103,586 41,233 62,353 45,968 38,313 7,655 42,203 11,930 54,133
23 Silvino Lubos 243,504 49,111 194,393 96,776 70,636 26,140 76,585 (16,428) 60,157
24 Victoria 314,772 120,817 193,955 111,147 91,589 19,559 68,938 (11,741) 57,197
Sub-Total 6,590,830 1,984,235 4,606,595 2,904,168 2,310,248 593,920 1,912,202 39,092 1,951,294

Samar
1 Almagro - - - - - - - - -
2 Basey 631,116 144,227 486,888 222,221 201,164 21,057 111,781 57,573 169,354
3 Calbiga 310,906 61,041 249,865 126,007 115,481 10,526 45,381 3,210 48,591
Republic of the Philippines
Financial Profile - Municipalities
Calendar Year 2018
(in thousand pesos)

Region Financial Condition Financial Performance Cash Position


1 2 Net Cash
Municipalities Assets Liabilities Equity Revenue Expenses Surplus/ (Deficit) Provided by
Cash Bal. Beg. (Used In) Cash Bal. End
4 Daram 351,802 85,669 266,133 137,710 113,060 24,650 88,103 17,253 105,355
5 Gandara 282,969 18,582 264,387 197,469 167,769 29,701 25,028 (6,812) 18,216
6 Hinabangan 259,465 55,969 203,496 125,077 82,640 42,438 51,848 19,176 71,024
7 Jiabong 96,155 20,538 75,617 70,477 56,717 13,760 21,981 (5,619) 16,362
8 Marabut 397,718 44,465 353,253 206,635 88,014 118,621 50,688 (9,680) 41,008
9 Matuguinao 134,573 26,775 107,797 70,888 51,840 19,048 34,811 33,791 68,602
10 Motiong 153,824 44,812 109,012 93,491 82,574 10,917 36,052 1,752 37,804
11 Pagsanghan 156,518 28,254 128,264 72,825 51,830 20,995 27,377 (6,871) 20,505
12 Paranas 404,512 78,470 326,042 170,469 117,936 52,533 80,272 (2,871) 77,401
13 Pinabacdao 203,922 74,446 129,476 100,276 75,737 24,539 44,971 17,615 62,586
14 San Jorge 184,295 68,893 115,402 98,841 78,822 20,019 75,339 (39,699) 35,641
15 San Jose de Buan 195,563 53,247 142,316 100,930 80,168 20,763 68,538 9,747 78,285
16 San Sebastian 139,957 49,937 90,020 53,955 41,999 11,956 39,416 18,548 57,964
17 Sta. Margarita 211,743 132,631 79,111 105,716 89,396 16,320 30,681 3,737 34,419
145

18 Sta. Rita 543,662 281,278 262,384 199,219 156,487 42,732 93,077 4,154 97,231
19 Sto. Niño 214,547 55,332 159,215 56,878 41,395 15,483 65,573 (4,723) 60,850
20 Tagapul-an 66,923 12,508 54,415 49,018 31,139 17,879 7,063 3,750 10,813
21 Talalora 186,326 74,170 112,155 47,523 39,534 7,989 47,089 14,759 61,848
22 Tarangnan 213,502 43,596 169,907 102,014 80,883 21,131 55,266 4,163 59,429
23 Villareal 216,464 96,097 120,366 107,346 83,675 23,672 38,861 7,688 46,550
24 Zumarraga 90,089 48,723 41,366 88,862 75,381 13,480 24,442 18,881 43,323
Sub-Total 5,646,547 1,599,660 4,046,887 2,603,846 2,003,640 600,206 1,163,639 159,522 1,323,162

Southern Leyte
1 Anahawan 169,832 99,943 69,888 63,481 56,685 6,796 45,226 3,390 48,616
2 Bontoc 225,034 100,937 124,097 97,983 87,139 10,844 55,907 (475) 55,432
3 Hinunangan 235,240 85,062 150,179 120,736 86,963 33,773 75,527 10,699 86,227
4 Hinundayan 167,184 63,211 103,973 66,322 56,318 10,004 57,116 7,546 64,662
5 Libagon 255,870 64,527 191,343 89,590 75,209 14,381 39,768 17,704 57,472
6 Liloan 319,587 74,356 245,232 89,950 61,961 27,989 114,233 (7,848) 106,385
7 Limasawa 161,819 48,759 113,060 48,336 46,828 1,508 60,528 (9,750) 50,778
8 Macrohon 229,789 66,098 163,691 109,040 91,692 17,347 91,070 6,764 97,834
9 Malitbog 219,516 46,095 173,420 83,982 59,255 24,727 45,201 3,644 48,845
10 Padre Burgos 163,351 82,365 80,986 59,695 47,703 11,992 33,077 12,303 45,380
11 Pintuyan 200,366 65,530 134,836 55,284 36,467 18,818 78,161 6,138 84,299
12 Saint Bernard 260,547 72,863 187,685 118,482 86,711 31,771 61,744 13,111 74,856
Republic of the Philippines
Financial Profile - Municipalities
Calendar Year 2018
(in thousand pesos)

Region Financial Condition Financial Performance Cash Position


1 2 Net Cash
Municipalities Assets Liabilities Equity Revenue Expenses Surplus/ (Deficit) Provided by
Cash Bal. Beg. (Used In) Cash Bal. End
13 San Francisco 198,992 81,570 117,422 65,702 45,698 20,004 51,660 12,009 63,669
14 San Juan 174,339 75,896 98,442 74,511 63,519 10,992 99,909 3,295 103,204
15 San Ricardo 196,103 54,470 141,633 60,861 38,661 22,200 65,698 16,631 82,329
16 Silago 238,084 38,464 199,620 84,837 68,739 16,098 40,198 (4,874) 35,325
17 Sogod 425,211 199,798 225,413 165,422 158,927 6,496 51,824 13,827 65,650
18 Tomas Oppus 154,469 77,139 77,330 67,541 55,432 12,109 64,730 (2,782) 61,948
Sub-Total 3,995,332 1,397,081 2,598,252 1,521,754 1,223,906 297,848 1,131,578 101,333 1,232,911
REGIONAL TOTAL 39,150,004 13,335,644 25,814,360 16,144,420 12,635,167 3,509,253 11,135,595 757,596 11,893,190

Region IX

Zamboanga del Norte


1 Baliguian 398,267 219,716 178,550 129,523 92,428 37,095 97,638 (5,260) 92,377
2 Godod 246,373 106,346 140,027 99,251 88,304 10,946 53,753 10,249 64,002
146

3 Gutalac 221,195 45,060 176,135 176,697 163,116 13,581 30,407 9,519 39,926
4 Jose Dalman 189,208 59,066 130,142 109,544 101,090 8,454 46,339 (6,006) 40,333
5 Kalawit 176,763 34,795 141,968 113,632 109,295 4,337 59,957 (14,246) 45,711
6 Katipunan 324,308 71,929 252,379 224,876 197,823 27,054 141,382 10,350 151,732
7 Labason 377,652 81,349 296,303 154,174 138,386 15,788 93,027 (19,026) 74,001
8 La Libertad 160,308 53,045 107,263 63,238 53,297 9,941 53,483 (4,374) 49,109
9 Leon B. Postigo 166,103 64,476 101,627 146,543 132,716 13,827 74,018 5,286 79,303
10 Liloy 268,404 80,423 187,981 146,501 123,942 22,559 60,968 12,253 73,221
11 Manukan 478,767 134,601 344,166 199,952 153,649 46,304 127,462 (2,679) 124,783
12 Mutia 238,578 70,307 168,271 93,087 70,485 22,602 62,316 12,681 74,997
13 Piñan 291,661 63,847 227,814 102,712 95,129 7,583 46,400 12,983 59,383
14 Polanco 329,220 94,971 234,249 131,195 107,229 23,966 91,173 (617) 90,556
15 Pres. Manuel A.Roxas 415,700 130,096 285,603 216,651 163,871 52,779 102,011 20,285 122,296
16 Rizal 179,093 59,522 119,571 102,583 92,397 10,186 61,053 (1,101) 59,952
17 Salug 177,196 56,009 121,188 139,530 117,055 22,475 92,228 (10,705) 81,524
18 Sergio Osmeña Sr. 396,306 100,544 295,762 218,983 153,082 65,901 84,241 (2,265) 81,977
19 Siayan 506,580 154,090 352,491 173,034 136,559 36,475 195,283 3,939 199,222
20 Sibuco 358,794 144,023 214,771 206,434 174,876 31,558 80,723 (61,366) 19,357
21 Sibutad 190,791 71,222 119,569 107,763 74,667 33,095 98,104 (4,502) 93,601
22 Sindangan 592,869 227,567 365,302 371,639 286,502 85,137 227,908 709 228,618
23 Siocon 658,226 243,856 414,370 202,915 189,204 13,711 91,124 (15,399) 75,724
24 Sirawai 273,233 101,408 171,825 116,545 115,618 927 45,877 1,341 47,218
25 Tampilisan 276,581 127,590 148,991 108,265 103,406 4,859 60,058 (7,115) 52,943
Sub-Total 7,892,178 2,595,860 5,296,318 3,855,269 3,234,125 621,143 2,176,932 (55,068) 2,121,865
Republic of the Philippines
Financial Profile - Municipalities
Calendar Year 2018
(in thousand pesos)

Region Financial Condition Financial Performance Cash Position


1 2 Net Cash
Municipalities Assets Liabilities Equity Revenue Expenses Surplus/ (Deficit) Provided by
Cash Bal. Beg. (Used In) Cash Bal. End

Zamboanga del Sur


1 Aurora 709,858 374,206 335,652 197,014 123,930 73,084 245,219 (9,410) 235,809
2 Bayog 317,430 149,160 168,271 189,153 155,197 33,955 68,020 23,860 91,879
3 Dimataling 185,280 91,917 93,362 102,799 88,558 14,241 82,019 2,790 84,809
4 Dinas 336,189 152,999 183,189 113,913 92,514 21,398 104,764 13,764 118,528
5 Dumalinao 358,641 130,061 228,580 113,545 87,866 25,678 119,835 39,287 159,122
6 Dumingag 368,333 146,045 222,288 180,225 152,551 27,674 120,911 16,256 137,167
7 Guipos 226,370 118,677 107,693 85,330 74,480 10,850 42,901 (13,161) 29,740
8 Josefina 305,268 101,022 204,246 75,490 48,355 27,135 75,492 19,574 95,066
9 Kumalarang 482,853 257,498 225,356 126,278 104,022 22,257 70,566 12,117 82,682
10 Labangan 333,705 101,317 232,389 137,683 105,197 32,487 91,599 23,919 115,519
11 Lakewood 198,007 84,735 113,271 97,405 86,770 10,634 43,067 (4,905) 38,162
12 Lapuyan 402,412 140,138 262,275 129,137 96,515 32,621 134,361 3,631 137,992
147

13 Mahayag 418,230 180,873 237,357 169,980 133,255 36,726 138,043 31,288 169,330
14 Margosatubig 561,544 298,593 262,951 123,708 76,421 47,287 113,120 69,307 182,427
15 Midsalip 463,303 146,566 316,736 109,606 78,004 31,602 126,369 56,784 183,154
16 Molave 750,902 182,872 568,030 218,187 139,287 78,901 202,506 60,960 263,466
17 Pitogo 238,894 161,836 77,058 99,654 89,462 10,191 49,820 10,674 60,494
18 Ramon Magsaysay 315,838 135,374 180,464 105,399 89,099 16,300 107,397 4,279 111,676
19 San Miguel 260,049 173,828 86,221 93,187 75,363 17,824 79,571 604 80,175
20 San Pablo 283,767 158,038 125,729 98,532 78,099 20,433 66,307 11,584 77,891
21 Sominot 184,669 47,265 137,404 79,450 77,149 2,302 46,959 10,314 57,273
22 Tabina 299,335 133,702 165,632 82,338 73,570 8,768 61,713 (16,702) 45,011
23 Tambulig 239,785 110,749 129,036 114,738 101,063 13,676 90,462 13,142 103,604
24 Tigbao 358,521 241,447 117,074 82,964 72,790 10,174 75,840 6,329 82,169
25 Tukuran 491,287 149,631 341,656 131,711 89,570 42,142 137,273 12,845 150,118
26 Vincenzo Sagun 193,716 56,762 136,954 102,399 68,775 33,624 55,258 8,033 63,290
Sub-Total 9,284,185 4,025,310 5,258,875 3,159,826 2,457,862 701,963 2,549,393 407,159 2,956,552

Zamboanga Sibugay
1 Alicia 461,187 232,846 228,341 117,982 103,882 14,100 93,027 (17,515) 75,512
2 Buug 473,489 148,572 324,916 137,323 101,302 36,022 73,830 26,793 100,622
3 Diplahan 292,380 87,580 204,800 134,560 116,630 17,930 68,431 (15,232) 53,199
4 Imelda 294,861 111,881 182,980 104,967 95,061 9,906 61,536 (3,494) 58,042
5 Ipil 938,912 205,507 733,405 256,708 233,560 23,148 175,187 (17,160) 158,027
6 Kabasalan 496,347 198,659 297,688 164,136 134,727 29,408 138,074 (9,774) 128,300
Republic of the Philippines
Financial Profile - Municipalities
Calendar Year 2018
(in thousand pesos)

Region Financial Condition Financial Performance Cash Position


1 2 Net Cash
Municipalities Assets Liabilities Equity Revenue Expenses Surplus/ (Deficit) Provided by
Cash Bal. Beg. (Used In) Cash Bal. End
7 Mabuhay 343,406 302,454 40,952 106,278 100,105 6,173 74,268 (2,858) 71,410
8 Malangas 413,162 158,337 254,824 124,910 95,853 29,056 189,035 (19,228) 169,807
9 Naga 271,989 71,211 200,778 194,521 157,528 36,993 51,195 2,210 53,404
10 Olutanga 191,060 33,247 157,813 106,300 91,613 14,688 61,030 (17,551) 43,479
11 Payao 357,415 115,133 242,281 124,620 103,977 20,644 74,108 (14,946) 59,162
12 RosellerT. Lim 283,459 149,425 134,034 150,979 122,329 28,650 102,730 4,030 106,759
13 Siay 406,528 110,445 296,083 165,610 134,803 30,808 20,626 (8,000) 12,627
14 Talusan 313,003 88,798 224,205 91,172 77,505 13,668 77,179 (19,726) 57,453
15 Titay 386,244 145,228 241,016 211,942 180,522 31,419 77,987 (14,264) 63,724
16 Tungawan 455,843 265,561 190,282 296,608 271,826 24,782 63,436 (5,067) 58,369
Sub-Total 6,379,282 2,424,884 3,954,398 2,488,617 2,121,223 367,395 1,401,679 (131,783) 1,269,896
REGIONAL TOTAL 23,555,645 9,046,054 14,509,591 9,503,712 7,813,211 1,690,501 6,128,004 220,309 6,348,313

Region X
148

Bukidnon
1 Baungon 325,027 110,906 214,121 146,950 114,831 32,119 178,737 43,725 222,462
2 Cabanglasan 420,567 241,069 179,498 127,129 108,671 18,459 102,249 59,951 162,200
3 Damulog 313,260 215,322 97,938 118,555 103,469 15,085 111,308 6,301 117,609
4 Dangcagan 285,989 75,737 210,252 143,522 110,355 33,168 84,722 30,777 115,498
5 Don Carlos 712,083 353,407 358,676 209,844 176,181 33,664 297,049 31,032 328,081
6 Impasug-0ng 551,365 149,929 401,436 286,170 231,559 54,611 271,039 9,041 280,080
7 Kadingilan 304,711 150,424 154,287 129,827 115,814 14,013 86,406 (12,405) 74,000
8 Kalilangan 484,210 172,529 311,681 151,868 123,483 28,385 158,439 35,810 194,249
9 Kibawe 434,694 120,646 314,047 168,325 144,045 24,280 171,885 3,859 175,744
10 Kitaotao 425,980 129,022 296,958 228,096 166,665 61,431 134,198 36,940 171,137
11 Lantapan 708,813 256,875 451,939 194,611 157,532 37,079 183,063 24,664 207,727
12 Libona 422,890 146,685 276,204 171,912 146,759 25,153 105,797 (34,121) 71,676
13 Malitbog 661,037 290,147 370,891 158,978 113,771 45,207 167,024 12,934 179,958
14 Manolo Fortich 1,404,261 565,330 838,930 397,976 297,000 100,976 359,368 33,516 392,884
15 Maramag 982,877 295,809 687,068 360,757 313,281 47,475 182,283 62,382 244,665
16 Pangantucan 678,689 194,251 484,438 204,862 177,102 27,760 180,172 (14,521) 165,651
17 Quezon 733,286 172,391 560,895 354,530 312,547 41,983 159,951 5,897 165,849
18 San Fernando 642,651 199,038 443,614 230,265 165,304 64,961 198,147 (3,964) 194,184
19 Sumilao 285,899 156,830 129,068 130,490 110,159 20,331 81,392 18,413 99,805
20 Talakag 620,965 234,281 386,684 286,934 227,456 59,478 258,421 88,319 346,740
Sub-Total 11,399,252 4,230,627 7,168,625 4,201,601 3,415,982 785,618 3,471,649 438,550 3,910,199
Republic of the Philippines
Financial Profile - Municipalities
Calendar Year 2018
(in thousand pesos)

Region Financial Condition Financial Performance Cash Position


1 2 Net Cash
Municipalities Assets Liabilities Equity Revenue Expenses Surplus/ (Deficit) Provided by
Cash Bal. Beg. (Used In) Cash Bal. End

Camiguin
1 Catarman 185,155 28,220 156,935 72,804 60,550 12,253 69,048 (1,552) 67,496
2 Guinsiliban 83,538 54,269 29,268 44,349 35,257 9,092 44,054 9,938 53,992
3 Mahinog 169,810 41,487 128,322 70,829 63,294 7,535 57,772 (7,142) 50,630
4 Mambajao 302,311 88,296 214,015 149,470 140,091 9,378 67,800 9,241 77,041
5 Sagay 112,087 44,642 67,445 60,136 49,724 10,413 37,616 (12,102) 25,513
Sub-Total 852,901 256,915 595,986 397,588 348,916 48,672 276,290 (1,618) 274,672

Lanao del Norte


1 Bacolod 100,030 32,761 67,269 91,873 81,341 10,532 10,734 (3,108) 7,626
2 Baloi 356,054 17,775 338,279 150,496 113,307 37,189 103,905 (3,134) 100,771
3 Baroy 155,881 50,144 105,737 85,035 81,319 3,716 40,508 1,097 41,605
4 Kapatagan 507,559 310,650 196,909 200,781 168,841 31,940 117,810 (36,474) 81,336
5 Kauswagan 271,421 77,434 193,987 112,937 111,844 1,092 50,113 (12,813) 37,300
149

6 Kolambugan 321,463 143,740 177,724 103,152 97,354 5,798 111,761 11,316 123,077
7 Lala 505,126 170,837 334,289 201,899 158,825 43,074 113,630 13,772 127,402
8 Linamon 129,221 40,187 89,035 84,073 78,726 5,346 61,657 (11,205) 50,452
9 Maigo 157,680 75,497 82,183 91,863 84,852 7,011 29,534 9,499 39,033
10 Matungao 59,882 909 58,973 78,201 66,907 11,295 9,734 (978) 8,756
11 Munai 82,878 23,683 59,196 108,989 106,325 2,663 316 2,411 2,727
12 Nunungan 255,424 77,695 177,729 177,529 130,693 46,836 68,674 (5,886) 62,788
13 Pantao-Ragat 34,975 3,477 31,498 90,366 90,744 (378) 4,263 (1,113) 3,150
14 Pantar 11,003 2,431 8,572 73,470 73,663 (192) 6,889 (338) 6,551
15 Poona Piagao 191,689 57,442 134,247 108,987 95,699 13,288 3,288 1,389 4,677
16 R. Magsaysay 65,604 21,171 44,433 83,971 78,843 5,127 21,843 (6,825) 15,018
17 S.N. Dimaporo 109,786 28,952 80,834 129,411 110,839 18,572 46,006 (3,894) 42,111
18 Salvador 168,653 84,071 84,582 75,255 63,736 11,518 62,095 13,246 75,341
19 Sapad 123,283 67,965 55,318 68,033 66,603 1,430 13,439 4,843 18,282
20 Tagoloan 81,830 48,630 33,200 68,217 65,695 2,522 2,811 (1,842) 969
21 Tangkal 161,928 17,435 144,493 79,166 78,238 929 14,875 (5,890) 8,985
22 Tubod 426,564 138,469 288,094 167,290 138,586 28,703 162,139 (34,516) 127,623
Sub-Total 4,277,935 1,491,356 2,786,579 2,430,991 2,142,980 288,011 1,056,023 (70,443) 985,580

Misamis Occidental
1 Aloran 242,141 90,524 151,618 103,831 101,949 1,882 61,185 (1,452) 59,733
2 Baliangao 35,168 14,706 20,462 70,633 71,467 (834) 15,839 (8,496) 7,343
Republic of the Philippines
Financial Profile - Municipalities
Calendar Year 2018
(in thousand pesos)

Region Financial Condition Financial Performance Cash Position


1 2 Net Cash
Municipalities Assets Liabilities Equity Revenue Expenses Surplus/ (Deficit) Provided by
Cash Bal. Beg. (Used In) Cash Bal. End
3 Bonifacio 455,286 54,962 400,324 112,400 139,581 (27,181) 30,619 (3,168) 27,451
4 Calamba 296,238 171,475 124,763 108,457 97,245 11,212 119,766 (16,507) 103,259
5 Clarin 209,848 146,826 63,021 118,277 119,298 (1,021) 60,950 5,296 66,246
6 Concepcion 144,930 58,220 86,710 56,124 38,617 17,507 44,820 11,712 56,531
7 Don Victorino 320,018 123,953 196,065 90,948 57,891 33,056 100,702 49,138 149,840
8 Jimenez 382,415 98,905 283,509 132,351 111,415 20,935 105,134 (16,847) 88,287
9 Lopez Jaena 338,252 163,661 174,591 91,115 81,664 9,451 72,937 8,624 81,561
10 Panaon 279,919 144,453 135,466 65,340 70,015 (4,675) 54,522 5,286 59,807
11 Plaridel 294,663 52,644 242,020 137,736 120,442 17,294 41,243 6,393 47,636
12 Sapang Dalaga 255,691 103,623 152,067 77,862 56,581 21,281 47,170 (14,693) 32,476
13 Sinacaban 238,948 199,107 39,841 81,149 73,240 7,909 39,469 3,568 43,038
14 Tudela 409,004 212,273 196,730 106,207 105,486 721 81,992 8,812 90,803
Sub-Total 3,902,522 1,635,334 2,267,187 1,352,429 1,244,892 107,538 876,346 37,665 914,011
150

Misamis Oriental
1 Alubijid 288,972 65,993 222,978 111,533 94,732 16,801 69,545 (10,265) 59,280
2 Balingasag 508,395 124,349 384,045 224,138 180,580 43,558 123,219 (2,426) 120,794
3 Balingoan 137,862 75,507 62,355 63,465 54,413 9,052 56,732 (2,227) 54,505
4 Binuangan 119,118 53,097 66,021 49,777 44,298 5,479 50,429 2,591 53,020
5 Claveria 396,993 152,899 244,094 217,106 203,587 13,518 97,981 (13,341) 84,640
6 Gitagum 141,950 31,964 109,986 77,711 61,101 16,610 53,399 1,337 54,737
7 Initao 384,842 126,014 258,828 123,437 96,806 26,631 113,982 1,897 115,879
8 Jasaan 377,058 223,114 153,943 196,456 207,260 (10,804) 81,351 (75,616) 5,736
9 Kinoguitan 191,396 134,741 56,655 62,224 60,238 1,986 51,020 8,239 59,259
10 Lagonglong 226,484 131,465 95,019 83,369 69,887 13,482 46,850 (8,719) 38,132
11 Laguindingan 223,115 92,916 130,199 95,869 83,256 12,612 58,404 4,560 62,964
12 Libertad 115,633 38,471 77,162 57,320 45,842 11,478 66,280 455 66,735
13 Lugait 483,391 120,472 362,919 114,210 85,222 28,988 185,827 5,527 191,354
14 Magsaysay 317,171 143,792 173,379 117,097 101,688 15,409 86,112 (22,699) 63,414
15 Manticao 230,817 40,195 190,622 101,440 74,194 27,246 89,644 3,307 92,951
16 Medina 291,436 129,528 161,908 129,940 125,080 4,860 72,689 (34,838) 37,851
17 Naawan 235,198 79,263 155,935 91,941 81,402 10,539 66,605 (3,500) 63,104
18 Opol 489,155 196,884 292,271 210,228 162,629 47,599 94,369 35,129 129,498
19 Salay 330,666 128,434 202,231 109,425 103,719 5,705 69,584 (19,433) 50,151
20 Sugbong Cogon 208,586 55,401 153,185 55,772 43,097 12,674 39,065 (9,607) 29,458
21 Tagoloan 456,714 185,998 270,716 374,439 306,080 68,359 132,732 55,538 188,270
Republic of the Philippines
Financial Profile - Municipalities
Calendar Year 2018
(in thousand pesos)

Region Financial Condition Financial Performance Cash Position


1 2 Net Cash
Municipalities Assets Liabilities Equity Revenue Expenses Surplus/ (Deficit) Provided by
Cash Bal. Beg. (Used In) Cash Bal. End
22 Talisayan 146,918 56,021 90,897 92,216 77,504 14,712 34,516 12,513 47,030
23 Villanueva 620,620 258,943 361,678 294,051 233,495 60,556 163,003 28,717 191,720
Sub-Total 6,922,489 2,645,461 4,277,028 3,053,161 2,596,111 457,050 1,903,340 (42,859) 1,860,481
REGIONAL TOTAL 27,355,099 10,259,694 17,095,405 11,435,770 9,748,881 1,686,889 7,583,647 361,296 7,944,943

Region XI

Compostela Valley
1 Compostela 663,236 251,107 412,129 301,855 253,064 48,792 223,192 7,044 230,236
2 Laak 460,817 95,532 365,285 322,118 283,945 38,173 110,146 28,236 138,382
3 Mabini 246,641 62,863 183,778 170,918 150,521 20,396 86,725 (15,293) 71,432
4 Maco 550,220 125,072 425,148 336,995 313,912 23,083 148,529 (11,915) 136,614
5 Maragusan 327,878 53,973 273,905 228,542 193,690 34,852 98,679 (2,863) 95,816
6 Mawab 419,640 220,401 199,240 139,395 141,425 (2,031) 80,682 (2,246) 78,436
151

7 Monkayo 847,806 320,215 527,591 353,971 315,804 38,167 126,066 (24,298) 101,768
8 Montevista 301,830 150,444 151,387 186,283 175,009 11,274 82,856 19,540 102,396
9 Nabunturan 566,557 163,268 403,289 305,153 253,638 51,514 183,858 34,658 218,516
10 New Bataan 408,238 177,276 230,962 203,007 162,088 40,919 117,647 35,233 152,880
11 Pantukan 591,472 138,000 453,472 311,332 265,429 45,903 140,281 24,633 164,914
Sub-Total 5,384,335 1,758,151 3,626,184 2,859,568 2,508,526 351,043 1,398,662 92,728 1,491,390

Davao del Norte


1 Asuncion 463,170 238,831 224,339 193,079 170,197 22,882 75,182 (19,367) 55,815
2 BE Dujali 252,273 125,232 127,040 121,545 112,544 9,001 86,325 (7,853) 78,472
3 Carmen 467,406 92,976 374,430 243,964 182,991 60,973 119,474 (4,697) 114,777
4 Kapalong 686,433 282,126 404,307 335,024 298,606 36,419 171,314 (47,138) 124,176
5 New Corella 314,911 76,150 238,761 184,251 146,076 38,175 87,178 (2,932) 84,247
6 San Isidro 294,820 201,026 93,794 94,549 94,077 473 56,340 10,566 66,906
7 Sto. Tomas 1,108,684 332,398 776,286 381,817 310,259 71,558 306,808 (19,508) 287,300
8 Talaingod 312,786 150,437 162,349 180,509 154,083 26,425 105,449 (39,381) 66,068
Sub-Total 3,900,483 1,499,177 2,401,306 1,734,738 1,468,832 265,905 1,008,070 (130,311) 877,760

Davao Occidental
1 Don Marcelino 216,364 46,375 169,989 146,757 123,347 23,410 83,341 5,231 88,572
2 Jose Abad Santos 323,991 86,367 237,624 237,602 191,058 46,544 52,352 33,382 85,734
3 Malita 1,092,605 515,805 576,800 421,064 325,686 95,378 171,613 82,910 254,523
Republic of the Philippines
Financial Profile - Municipalities
Calendar Year 2018
(in thousand pesos)

Region Financial Condition Financial Performance Cash Position


1 2 Net Cash
Municipalities Assets Liabilities Equity Revenue Expenses Surplus/ (Deficit) Provided by
Cash Bal. Beg. (Used In) Cash Bal. End
4 Santa Maria 327,710 96,520 231,190 160,732 140,081 20,651 30,201 (334) 29,868
5 Saranggani 220,362 77,329 143,033 83,930 71,659 12,270 61,196 28,301 89,497
Sub-Total 2,181,033 822,396 1,358,636 1,050,086 851,831 198,255 398,703 149,491 548,194
Davao Oriental
1 Baganga 418,694 136,177 282,517 265,297 221,558 43,739 106,142 17,554 123,696
2 Banay-Banay 232,110 90,655 141,454 169,894 150,027 19,867 46,370 12,908 59,279
3 Boston 185,110 81,251 103,860 106,632 90,132 16,501 68,606 (9,031) 59,575
4 Caraga 418,529 129,250 289,279 190,360 152,708 37,653 119,899 33,301 153,200
5 Cateel 211,487 102,717 108,770 220,102 170,402 49,700 18,749 (2,276) 16,473
6 Gov. Generoso 145,203 51,951 93,251 192,738 185,868 6,870 34,153 4,013 38,166
7 Lupon 514,938 283,337 231,601 305,093 311,190 (6,097) 48,941 64,964 113,906
8 Manay 296,657 129,399 167,258 167,565 139,967 27,598 48,902 (21,213) 27,690
9 San Isidro 311,728 146,501 165,227 130,516 123,851 6,665 63,598 4,648 68,245
152

10 Tarragona 384,172 85,575 298,597 120,177 127,166 (6,988) 8,990 (7,516) 1,474
Sub-Total 3,118,628 1,236,814 1,881,814 1,868,375 1,672,867 195,508 564,351 97,352 661,704
Davao del Sur
1 Bansalan 425,592 191,783 233,810 200,715 160,094 40,621 129,174 8,957 138,132
2 Hagonoy 203,149 78,574 124,575 152,022 147,568 4,454 73,272 (441) 72,831
3 Kiblawan 500,718 265,812 234,906 193,872 155,015 38,857 98,071 (20,617) 77,454
4 Magsaysay 407,155 259,925 147,231 198,989 188,993 9,997 49,812 12,220 62,032
5 Malalag 279,103 75,295 203,808 153,883 128,992 24,891 71,209 (4,518) 66,691
6 Matanao 424,021 158,685 265,336 210,730 189,411 21,319 98,100 (13,952) 84,148
7 Padada 184,442 32,552 151,890 107,773 104,116 3,657 23,294 (10,858) 12,436
8 Santa Cruz 1,686,577 1,156,149 530,427 399,124 321,795 77,330 618,762 188,284 807,046
9 Sulop 202,926 61,623 141,303 126,869 107,744 19,124 48,306 (5,817) 42,489
Sub-Total 4,313,684 2,280,399 2,033,285 1,743,976 1,503,727 240,249 1,210,000 153,258 1,363,258
REGIONAL TOTAL 18,898,163 7,596,936 11,301,227 9,256,743 8,005,783 1,250,960 4,579,787 362,519 4,942,306

Region XII
North Cotabato
1 Alamada 535,769 146,016 389,753 257,275 187,432 69,843 257,457 23,961 281,418
2 Aleosan 389,338 220,516 168,823 131,537 111,645 19,892 77,566 13,788 91,355
3 Antipas 232,710 94,324 138,387 161,447 149,779 11,668 63,781 (2,750) 61,031
4 Arakan 335,437 108,244 227,193 213,087 179,050 34,037 135,340 5,498 140,839
Republic of the Philippines
Financial Profile - Municipalities
Calendar Year 2018
(in thousand pesos)

Region Financial Condition Financial Performance Cash Position


1 2 Net Cash
Municipalities Assets Liabilities Equity Revenue Expenses Surplus/ (Deficit) Provided by
Cash Bal. Beg. (Used In) Cash Bal. End
5 Banisilan - - - - - - - - -
6 Carmen 878,780 152,263 726,517 404,610 316,059 88,550 308,269 50,070 358,339
7 Kabacan 492,216 134,416 357,799 290,674 254,138 36,536 146,727 15,607 162,334
8 Libungan 376,372 132,710 243,662 155,509 129,585 25,924 54,920 (2,985) 51,935
9 Magpet 554,590 131,740 422,850 235,174 205,862 29,312 77,224 1,762 78,986
10 Makilala 737,483 390,591 346,893 280,904 239,822 41,081 221,490 237 221,727
11 Matalam 817,441 68,473 748,968 243,728 164,249 79,479 297,436 28,835 326,271
12 Midsayap 1,104,066 436,841 667,226 390,626 251,766 138,861 290,476 27,674 318,150
13 M'lang 529,366 225,805 303,561 274,950 210,108 64,842 190,587 (1,109) 189,478
14 Pigcawayan 323,466 99,111 224,355 201,376 167,137 34,239 113,117 19,668 132,785
15 Pikit 343,734 69,170 274,564 363,775 303,797 59,978 95,570 (4,788) 90,782
16 President Roxas 331,248 122,387 208,861 218,744 173,256 45,488 88,301 (12,698) 75,603
17 Tulunan 448,167 212,555 235,612 200,100 158,425 41,674 113,339 12,376 125,715
Sub-Total 8,430,184 2,745,160 5,685,024 4,023,515 3,202,111 821,404 2,531,602 175,146 2,706,748
153

Sarangani
1 Alabel 323,803 76,981 246,822 265,003 242,952 22,051 142,016 (15,687) 126,329
2 Glan 883,601 232,246 651,355 321,708 227,889 93,819 299,923 31,008 330,931
3 Kiamba 292,784 105,734 187,050 199,469 169,344 30,125 86,291 8,148 94,439
4 Maasim 453,943 186,465 267,478 249,898 204,838 45,059 108,336 26,421 134,757
5 Maitum 500,290 169,652 330,638 208,423 147,496 60,927 136,899 14,051 150,950
6 Malapatan 497,890 96,839 401,051 248,311 170,503 77,808 35,063 50,394 85,458
7 Malungon 292,310 66,409 225,902 317,661 284,988 32,673 41,714 29,417 71,130
Sub-Total 3,244,621 934,327 2,310,294 1,810,473 1,448,010 362,463 850,241 143,753 993,994

South Cotabato
1 Banga 600,730 245,200 355,531 222,238 193,043 29,195 82,144 12,014 94,158
2 Lake Sebu 330,427 89,735 240,692 290,357 272,025 18,332 47,665 (8,375) 39,290
3 Norala 375,718 129,444 246,275 136,871 117,953 18,917 129,927 (17,432) 112,494
4 Polomolok 1,650,941 567,381 1,083,560 517,484 405,263 112,221 138,449 117,994 256,443
5 Santo Niño 286,272 67,261 219,010 120,673 98,780 21,892 86,605 (9,561) 77,044
6 Surallah 706,153 269,175 436,977 333,564 262,980 70,584 175,349 63,522 238,871
7 Tampakan 315,596 47,323 268,273 171,676 146,612 25,065 149,054 (19,678) 129,376
8 Tantangan 353,529 175,295 178,234 129,724 109,909 19,815 47,259 9,640 56,899
9 T'boli 388,626 162,109 226,517 353,596 314,899 38,697 45,652 4,588 50,240
10 Tupi 415,899 179,470 236,430 254,150 219,785 34,364 116,464 (7,216) 109,248
Sub-Total 5,423,891 1,932,392 3,491,499 2,530,333 2,141,251 389,083 1,018,568 145,496 1,164,063
Republic of the Philippines
Financial Profile - Municipalities
Calendar Year 2018
(in thousand pesos)

Region Financial Condition Financial Performance Cash Position


1 2 Net Cash
Municipalities Assets Liabilities Equity Revenue Expenses Surplus/ (Deficit) Provided by
Cash Bal. Beg. (Used In) Cash Bal. End

Sultan Kudarat
1 Bagumbayan 404,726 129,592 275,134 242,909 212,182 30,727 101,493 18,589 120,082
2 Columbio 272,115 121,850 150,265 226,991 218,190 8,801 34,723 6,539 41,262
3 Esperanza 454,250 88,108 366,142 210,759 175,400 35,359 194,232 18,654 212,886
4 Isulan 542,419 251,193 291,225 333,481 292,963 40,518 223,476 8,857 232,334
5 Kalamansig 289,073 71,425 217,648 229,540 189,787 39,753 120,899 (801) 120,098
6 Lambayong 504,654 193,199 311,455 196,436 169,709 26,728 62,744 (15,829) 46,915
7 Lebak 420,784 184,402 236,382 251,628 271,226 (19,598) 183,436 (23,141) 160,295
8 Lutayan 161,044 75,388 85,656 168,223 152,594 15,628 46,495 (22,473) 24,022
9 Ninoy Aquino 134,379 43,201 91,178 144,770 120,210 24,560 44,620 (8,431) 36,189
10 Palimbang 286,103 36,746 249,357 238,694 233,713 4,981 64,538 (25,399) 39,139
11 Pres. Quirino 149,757 61,759 87,999 130,711 95,501 35,210 7,148 (1,037) 6,111
Sub-Total 3,619,304 1,256,864 2,362,441 2,374,143 2,131,476 242,667 1,083,804 (44,471) 1,039,333
154

REGIONAL TOTAL 20,718,001 6,868,743 13,849,258 10,738,464 8,922,848 1,815,616 5,484,215 419,924 5,904,139

Region XIII

Agusan del Norte


1 Buenavista 414,411 81,896 332,515 229,028 172,346 56,682 100,396 41,321 141,717
2 Carmen 236,925 42,256 194,669 155,074 124,464 30,610 59,077 (7,317) 51,760
3 Jobonga 196,263 111,620 84,643 144,964 122,467 22,497 34,690 (27,869) 6,821
4 Kitcharao 421,189 107,810 313,379 267,011 99,926 167,084 71,410 717 72,126
5 Las Nieves 393,445 142,682 250,764 203,120 166,486 36,634 78,349 19,174 97,524
6 Magallanes 297,566 75,037 222,529 110,604 84,680 25,924 64,984 27,870 92,854
7 Nasipit 241,928 124,747 117,181 175,138 171,605 3,533 72,069 4,068 76,137
8 R. T. Romualdes 189,117 99,233 89,884 80,241 63,777 16,464 46,614 4,488 51,103
9 Santiago 238,831 24,230 214,601 123,306 97,629 25,677 17,588 (7,080) 10,508
10 Tubay 191,864 40,651 151,213 142,495 112,747 29,748 96,391 9,061 105,452
Sub-Total 2,821,538 850,162 1,971,376 1,630,980 1,216,126 414,854 641,568 64,434 706,002

Agusan del Sur - -


1 Bunawan 959,372 195,848 763,524 264,479 168,488 95,990 140,094 23,502 163,596
2 Esperanza 908,925 413,262 495,662 424,925 354,741 70,183 333,260 (61,529) 271,732
3 La Paz 499,683 195,286 304,397 296,869 272,975 23,894 54,379 (9,941) 44,439
4 Loreto 657,003 225,387 431,616 313,965 235,318 78,648 246,571 52,889 299,460
5 Prosperidad 590,219 179,579 410,640 276,787 223,357 53,430 156,931 (12,381) 144,550
Republic of the Philippines
Financial Profile - Municipalities
Calendar Year 2018
(in thousand pesos)

Region Financial Condition Financial Performance Cash Position


1 2 Net Cash
Municipalities Assets Liabilities Equity Revenue Expenses Surplus/ (Deficit) Provided by
Cash Bal. Beg. (Used In) Cash Bal. End
6 Rosario 479,794 268,930 210,864 210,236 169,256 40,980 121,807 (16,989) 104,818
7 San Francisco 1,022,897 122,618 900,280 325,164 283,852 41,311 203,727 (26,307) 177,420
8 San Luis 349,259 301,612 47,647 233,024 208,863 24,160 31,349 (11,254) 20,094
9 Sibagat 302,621 98,579 204,042 173,916 143,252 30,664 56,607 2,326 58,933
10 Sta. Josefa 344,062 179,016 165,046 134,265 117,074 17,191 92,479 (23,367) 69,113
11 Talacogon 420,962 156,748 264,214 187,983 175,131 12,852 57,931 8,749 66,681
12 Trento 1,031,769 600,894 430,876 239,724 180,392 59,332 203,643 50,372 254,015
13 Veruela 354,519 180,824 173,695 159,573 134,674 24,899 75,511 130 75,641
Sub-Total 7,921,086 3,118,583 4,802,503 3,240,911 2,667,375 573,536 1,774,291 (23,800) 1,750,491

Dinagat Islands
1 Basilisa 298,213 139,209 159,004 103,160 67,291 35,869 87,243 (1,474) 85,769
2 Cagdianao 451,688 55,702 395,987 143,966 107,898 36,068 185,953 (14,970) 170,982
3 Dinagat 202,990 30,564 172,426 69,719 65,929 3,789 42,773 (910) 41,864
155

4 Libjo 198,162 19,962 178,200 92,967 69,738 23,229 69,171 19,377 88,549
5 Loreto 356,472 60,918 295,554 121,739 93,386 28,354 98,509 26,132 124,641
6 San Jose 168,064 46,140 121,923 81,935 69,894 12,040 59,878 7,529 67,407
7 Tubajon 186,609 44,403 142,206 66,127 49,485 16,642 65,938 8,324 74,261
Sub-Total 1,862,198 396,898 1,465,300 679,613 523,621 155,991 609,465 44,008 653,472

Surigao del Norte


1 Alegria 185,847 110,418 75,429 91,842 88,885 2,956 14,869 (5,460) 9,408
2 Bacuag 162,411 45,507 116,904 71,220 51,090 20,130 75,418 2,649 78,067
3 Burgos 106,222 63,825 42,397 43,994 36,700 7,294 22,428 105 22,533
4 Claver 1,684,864 235,306 1,449,558 580,195 253,146 327,049 554,945 85,194 640,139
5 Dapa 310,675 28,804 281,871 119,869 71,481 48,388 90,362 27,944 118,306
6 Del Carmen 475,863 331,497 144,365 95,529 82,480 13,049 115,610 (19,184) 96,426
7 Gen. Luna 82,594 6,391 76,203 104,628 100,897 3,731 13,471 (5,788) 7,684
8 Gigaquit 139,982 77,880 62,101 90,289 93,240 (2,951) 40,707 (6,610) 34,097
9 Mainit 303,496 88,067 215,429 115,539 88,428 27,112 91,956 4,609 96,565
10 Malimono 242,293 117,491 124,802 75,507 55,930 19,577 41,228 (2,594) 38,634
11 Pilar 214,571 79,601 134,971 68,149 44,874 23,275 39,222 19,195 58,417
12 Placer 289,102 83,902 205,199 121,070 85,143 35,927 97,119 473 97,592
13 San Benito 154,453 66,036 88,417 83,657 40,752 42,905 34,866 (527) 34,340
14 San Francisco 91,997 35,071 56,926 63,949 52,140 11,809 57,204 (10,171) 47,033
15 San Isidro 178,556 59,396 119,160 56,185 46,229 9,955 29,784 (9,286) 20,498
16 Sison 210,243 77,642 132,601 80,698 85,871 (5,173) 59,595 (21,985) 37,610
17 Socorro 171,866 58,473 113,393 107,086 91,964 15,121 45,826 (3,328) 42,497
Republic of the Philippines
Financial Profile - Municipalities
Calendar Year 2018
(in thousand pesos)

Region Financial Condition Financial Performance Cash Position


1 2 Net Cash
Municipalities Assets Liabilities Equity Revenue Expenses Surplus/ (Deficit) Provided by
Cash Bal. Beg. (Used In) Cash Bal. End
18 Santa Monica 153,032 56,356 96,676 55,290 45,103 10,187 35,541 11,532 47,073
19 Tagana-an 389,067 71,341 317,726 116,355 93,125 23,231 146,568 (17,604) 128,964
20 Tubod 212,722 26,169 186,553 102,301 73,779 28,522 96,045 (39,130) 56,915
Sub-Total 5,759,856 1,719,172 4,040,683 2,243,353 1,581,257 662,096 1,702,766 10,032 1,712,798

Surigao del Sur


1 Barobo 205,302 60,695 144,607 208,330 183,740 24,590 82,799 548 83,347
2 Bayabas 134,030 58,661 75,369 77,840 66,634 11,207 33,680 14,376 48,056
3 Cagwait 248,383 73,170 175,212 127,000 118,790 8,210 26,751 (3,810) 22,940
4 Cantilan 468,598 124,401 344,197 178,602 135,025 43,578 167,018 (13,977) 153,041
5 Carmen 111,429 55,527 55,902 106,489 100,178 6,311 56,015 1,523 57,538
6 Carrascal 692,990 172,657 520,333 247,143 280,290 (33,146) 288,002 (54,690) 233,312
7 Cortes 175,454 85,419 90,035 110,177 88,061 22,116 47,467 (13,667) 33,800
8 Hinatuan 299,472 76,631 222,841 172,269 137,079 35,191 106,719 (4,494) 102,225
156

9 Lanuza 217,236 125,618 91,618 106,218 92,797 13,421 57,735 27,877 85,612
10 Lianga 135,938 38,240 97,698 120,565 114,818 5,747 43,483 (8,489) 34,994
11 Lingig 250,964 143,998 106,966 142,835 139,601 3,234 43,840 (6,227) 37,613
12 Madrid 171,694 41,347 130,347 93,991 85,289 8,703 58,674 (17,640) 41,034
13 Marihatag 259,244 115,288 143,957 134,059 110,645 23,414 69,676 (2,574) 67,102
14 San Agustin 209,946 88,799 121,147 124,198 109,294 14,904 31,110 (12,083) 19,027
15 San Miguel 340,591 146,523 194,068 183,275 162,899 20,376 56,472 (9,803) 46,669
16 Tagbina 263,516 96,457 167,059 137,310 119,977 17,333 67,568 12,498 80,066
17 Tago 222,288 112,015 110,273 133,333 114,951 18,383 71,029 (8,438) 62,591
Sub-Total 4,407,074 1,615,447 2,791,628 2,403,637 2,160,067 243,570 1,308,039 (99,072) 1,208,967
REGIONAL TOTAL 22,771,752 7,700,262 15,071,490 10,198,493 8,148,445 2,050,048 6,036,129 (4,398) 6,031,731

Sub-Region XVI

Negros Occidental
1 Binalbagan 652,372 310,979 341,393 229,594 218,451 11,143 109,438 (1,123) 108,315
2 Caltrava 753,971 126,290 627,681 294,188 201,657 92,531 297,866 33,261 331,127
3 Candoni 297,041 48,565 248,476 108,045 94,577 13,469 30,948 (4,254) 26,694
4 Cauayan 1,006,003 462,740 543,263 277,826 180,583 97,243 360,728 19,265 379,993
5 D.S. Benedicto - - - - - - - - -
6 E.B. Magalona 338,508 82,446 256,062 172,145 163,641 8,504 111,711 (7,800) 103,911
7 Hinigaran 496,708 171,878 324,831 285,529 246,952 38,577 195,869 2,526 198,395
8 Hinoba-an 432,033 233,366 198,667 199,069 175,773 23,296 91,181 (22,225) 68,956
9 Ilog 562,052 299,879 262,173 188,762 163,354 25,407 120,576 10,784 131,360
Republic of the Philippines
Financial Profile - Municipalities
Calendar Year 2018
(in thousand pesos)

Region Financial Condition Financial Performance Cash Position


1 2 Net Cash
Municipalities Assets Liabilities Equity Revenue Expenses Surplus/ (Deficit) Provided by
Cash Bal. Beg. (Used In) Cash Bal. End
10 Isabela 307,548 50,088 257,461 211,169 211,272 (103) 79,885 (15,764) 64,121
11 La Castellana 140,633 63,304 77,329 188,203 166,913 21,290 30,602 (2,404) 28,198
12 Manapla 327,905 116,073 211,832 159,501 126,046 33,455 150,936 2,242 153,178
13 Moises Padilla 393,282 133,940 259,342 143,888 136,942 6,946 109,756 (26,164) 83,592
14 Murcia 523,618 225,771 297,847 255,177 248,882 6,295 171,777 (23,432) 148,345
15 Pontevedra 494,114 320,599 173,516 150,328 126,582 23,746 123,252 25,394 148,646
16 Pulupandan 305,719 223,360 82,359 91,565 87,435 4,130 64,302 14,508 78,811
17 San Enrique 154,243 55,129 99,114 77,724 68,938 8,786 42,968 1,839 44,808
18 Toboso 490,721 157,932 332,789 131,780 112,429 19,351 147,947 (4,891) 143,056
19 Valladolid 236,907 124,298 112,610 122,933 95,577 27,356 65,017 2,883 67,900
Sub-Total 7,913,379 3,206,636 4,706,743 3,287,424 2,826,002 461,422 2,304,760 4,644 2,309,404

Negros Oriental
1 Amlan 190,413 72,212 118,201 96,771 86,192 10,579 54,902 4,612 59,514
2 Ayungon 437,697 97,138 340,559 172,408 140,605 31,802 151,383 36,551 187,934
157

3 Bacong 337,535 137,095 200,439 127,117 86,324 40,793 134,959 46,412 181,371
4 Basay 225,131 70,965 154,166 119,118 109,765 9,353 53,544 26,934 80,478
5 Bindoy 350,535 91,564 258,971 156,335 120,555 35,780 105,354 20,755 126,110
6 Dauin 286,442 80,090 206,352 150,536 113,506 37,030 136,584 26,501 163,085
7 Jimalalud 260,743 43,020 217,723 99,623 71,113 28,510 89,227 6,457 95,684
8 La Libertad 682,792 214,317 468,475 360,805 108,836 251,969 237,393 231,786 469,179
9 Mabinay 621,647 130,449 491,198 234,277 181,841 52,436 203,771 28,603 232,374
10 Manjuyod 519,688 171,583 348,105 159,694 114,694 45,000 201,055 51,315 252,370
11 Pamplona 277,330 113,151 164,179 126,800 99,354 27,446 118,239 9,485 127,724
12 San Jose 178,998 36,868 142,129 78,286 57,342 20,944 67,392 2,872 70,264
13 Siaton 543,369 174,480 368,888 218,985 168,086 50,900 193,317 46,841 240,158
14 Sibulan 449,893 106,570 343,323 216,520 160,277 56,243 222,543 38,889 261,432
15 Sta. Catalina 744,983 185,787 559,196 290,025 199,178 90,846 347,279 32,923 380,202
16 Tayasan 384,213 155,798 228,415 129,920 94,117 35,803 142,052 42,023 184,076
17 Valencia 987,305 316,692 670,613 207,960 177,583 30,377 440,355 35,155 475,510
18 Vallehermoso 268,806 122,726 146,080 131,572 99,008 32,565 94,862 (10,960) 83,902
19 Zamboanguita 261,836 102,396 159,440 119,673 100,791 18,882 95,783 (7,788) 87,996
Sub-Total 8,009,353 2,422,901 5,586,451 3,196,424 2,289,167 907,257 3,089,997 669,365 3,759,362
REGIONAL TOTAL 15,922,731 5,629,537 10,293,194 6,483,848 5,115,169 1,368,679 5,394,758 674,009 6,068,766

ARMM

Basilan
1 Adjul 2,221 2,207 13 3,580 3,633 (53) 137 (53) 83
Republic of the Philippines
Fi