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Republic of the Philippines

Province of Agusan del Norte


City of Cabadbaran

OFFICE OF THE CITY AGRICULTURIST

LIVELIHOOD PROJECT PROPOSAL


Business Plan

I. Identifying Information:

Project Enterprise Title: Milkfish Culture in Cage


Proponent Enterprise group: Gentle Island Fisherfolk Association

Location:
Barangay, City: Kauswagan, Cabadbaran City

Province: Agusan del Norte

No. of Beneficiaries: Total: 66


Male : 38
Female: 28

Contact Person:
Name : Rheabeth J. Ranque
Position : PO President
Contact Number: 09216474301

Total Project Cost: 252, 446.60

FishCORAL Fund: 203,783.00


Beneficiary equity: 18,786.60
LGU equity: 40,000.00

II. Rationale:

Milkfish or bangus comprise the bulk of aquaculture production in the country. The fish
is fast growing, hardy and remains a staple food for Filipinos. It is a cheap source of animal
protein and as such is acceptable to consumers from different socioeconomic strata.
Traditionally, milkfish was cultured in brackishwater and freshwater fishponds, as well as in pen
enclosures, in the case of Laguna de Bay.

Milkfish(Chanos chanos) or popularly known as “Bangus” is the National fish of the Philippines.
The demand for milkfish is increasing yearly as the consumer population increases. The popularity of
milkfish as a food fish maybe traced to its abundance in the local market as well as and to its good and
tasty white meat. However, with the growing environmental constraint over the country’s dwindling
mangrove resources, expansion of production areas is not anymore seen as an option. The direction of
milkfish farming will inevitably be towards improvements on the existing production areas.
Project Objectives

1. To capacitate the fisherfolk organization members on good aquaculture practices


and technology;
2. to promote and utilize Milkfish Cage Farming technology among PO members;
3. to increase milkfish production for poorly-developed but rich natural aquatic
resources;
4. to provide qualified PO members with a complementary livelihood activity that
can augment their fishing income;
5. to reduce fishing pressure and resource extraction by involving fisherfolk in an
environment-friendly aquaculture activity.

III. Brief Project Description:


The Bangus Culture in Cage Project is the identified livelihood of the Gentle Island
Fisherfolk Association. Fresh bangus will be the finish product of this project. The association
aims to increase the production of milkfish in the municipality to meet the demand of the said
commodity in the market. The planned dimension of the cage will be 8m x 8m x 4m.

IV. BP Components

Section 1: Marketing Plan

1. Description of the Product

Packaging
Product Description Material Size

Fresh Bangus Fresh bangus, 2pcs Styrofoam (Box-type) 3ft x 2ft x 2ft
(500g/pc)/Kg Plastic bag 36inches x 40 inches
(Transparent) or XL
Ice Crushed
Wooden Box 3.5ft x 2.5ft x 2.5ft

2. Comparison of the Product with its competitors

DESCRIPTION PO LOCAL (EXISTING


PRODUCERS/COMPETITOR)
1. Price Low High Season
Season
a) Farmgate Price 90.00- 85.00- 90.00-100.00/kg
100.00/ kg 90.00/kg
b) Market Price 120.00kg 110.00/kg
2.Quality
a) Odor & taste No foul odor Presence of foul odor
b) Size 450-500 g 450-500 g
c) Apperance Firm, shiny, red gills Dull, Pale
3.Accessibility (Farm- From Barobo to Aras-asan
Market)
a) Distance 5.4km 68 km
b) Time 10 mins-15 mins 1hr and 15mins
3. Location: Gentle Island, Kauswagan, Cabadbaran City

4. Market area: Cabadbaran Public Market and Agusan del Nort

5. Main customers: Trader, Middleman, Consolidator, Broker


6. Total demand:
Projected Demand (Insert table in Section 1: Marketing Plan - #6 Total Demand)
Projected Multiply: per Capita Projected Annual
Particulars
Population Consumption (kg) Demand (kg)
Milkfish
Cabadbaran City 73,639 2.071 152,506
Agusan del Norte 354,503 2.071 734,176
Source: Philippine Statistics Authority, Bureau of Agricultural Statistics
7. Market share:
Market Share (Insert table in Section 1: Marketing Plan - #7 Market Share)
Production Volume
Particulars Projected Demand Market Share
(kg)
Milkfish
Cabadbaran city 5400 152,506 3.5%
Agusan del Norte 5400 734,176 0.7%
Source: Philippine Statistics Authority, Bureau of Agricultural Statistics
8. Selling price: Low season (90.00-100.00/kg); Peak season (95.00-100.00/kg)
9. Sales forecast:
High Season Low Season
Product Year 1 Year 2 Year 3
Price/kg Sales Price/kg Sales
Milkfish ₱ 90.00 ₱243,000.00 ₱ 95.00 ₱ 256,500.00 ₱ 499,500.00 ₱ 509,521.44 ₱ 519,743.94
Total Sales ₱243,000.00 ₱ 256,500.00 ₱ 499,500.00 ₱ 509,521.44 ₱ 519,743.94

10. Marketing strategy:


By the City Agriculture Office will also be considered as part of the marketing
scheme of the project; word of mouth from the members of the associations and the
neighboring constituents, and transactional activities to the main costumers.

11. Marketing budget:

1st
Activities
Cropping 2nd Cropping Year 1 Year 2 Year 3
Communication Expense 50.00 50.00 100.00 102.50 105.06
Transportation/Freight-out 250.00 250.00 500.00 512.50 525.31
Total 300.00 300.00 600.00 615.00 630.38
Section 2: Production Plan

Production process

Site
Preparati Sourcing Maintena
Feeding
Site on/ of Acclimati nce
Stocking Manage Harvesting
Selection Installme Fingerling zation (Sampling
s ment & Repair)
nt of Fish
Cage

1.2. Process or procedures


a. Pre-operational- It includes Site Selection, Site Preparation, Contruction of Fish
Cage, Purchase of inputs and materials.
b. Stocking- The stocking density of bangus fingerlings 50-60 gramsof fingerslings
with with a total stocking of 6,000pcs bangus fingerlings. Stocking of bangus will
be done early in the morning after acclimatization.
c. Feeding – Bangus will fed with commercial feeds at 2% of body weight twice a
day, early in the morning and late afternoon.
d. Stock sampling – Weighing the Fish by using Digital weighing scale.
e. Sampling and Monitoring – This will done weekly and monthly to monitor
various parameters such as water quality, feed consumption, growth and survival
and health with the assistance of BFAR. Records will be kept and use as reference
for the succeeding operations of the project as well as can be a source of policy
making.

Aside from those parameters to record, the association will also monitor and
record the following :

1.
Date of bangus stocked.
2.
No. of bangus stock.
3.
Average size/kgs of bangus stocked.
4.
Supplementary feeds provided per day, including details of the type of
feed used and the weight provided per feed.
5. An estimates of feed used per day compared the percentage (%) of
feeds left or not consumed at the feeding period/
6. Any signs of deseases or health provided.
7. Number of kilograms of bangus and at harvest.
f. Harvesting – After 4 months of culture, harvest stock with an estimated weight
ranging from 250-500 grams.
Total harvest-Roll a bamboo, starting from one end going to another end to
concentrate the fish on the other side of the net.
g. Packing – By using

Styrofoam 3ft x 2ft x 2ft


(Box-type)
Plastic bag 36inches x 40 inches or XL
(Transparent
)
Ice Crushed
Wooden Box 3.5ft x 2.5ft x 2.5ft

h. Selling/marketing – The harvest bangus is transporting to the direct fish traders.

i. Repair and maintenance – Inspect regular for the net breakage to ensure the
safety of the stocks, clean the net regularly by shaking it vigorously or by
brushing and tow the cage structure at a sheltered area during the occurrence of
bad weather.

1. Project location, design and/or lay-out : Sample


2. Equipment specifications, sources, costs
Annual Accu. Dep'n
Particulars Quantity Unit Unit Cost Total Cost Life Span
Depreciation Year 1 Year 2 Year 3
Bamboo Floating Cage (8m x 8m x 4m)
Bamboo Poles 12 k- 15 m., 5 in. dia. 40 pcs 120.00 4,800.00
Plastic Drums 12 pcs 1,000.00 12,000.00
Monolyn 189 lbs. test 10 kgs 450.00 4,500.00
P.E. Net 400/12, 4 K 100 MD 2 bdls 7,800.00 15,600.00
P.E. Rope 12mm 1 roll 3,600.00 3,600.00
P.E. Rope 10mm 1 roll 1,000.00 1,000.00
P.E. Rope 8mm 6 rolls 675.00 4,050.00
Mononylon 180 lbs. test 1 kg 450.00 450.00
Netting Needle 5 pcs 30.00 150.00
Total Materials Cost (A) 46,150.00
Labor Cost: Net mending, Cage
10 MAD 250.00 2,500.00
Construction & Installation (B)
TOTAL COST (A+B) 48,650.00 3 16,216.67 16,216.67 32,433.33 48,650.00

Caretaker's Hut
Nipa Shringles 150 pcs 7.00 1,050.00
Round Logs 10ft 6 pcs 400.00 2,400.00
Bamboo Matting 4x8ft 8 pcs 175.00 1,400.00
Common nails #2 1 kgs 70.00 70.00
Sliced bamboo 10ft. 4 bdls 400.00 1,600.00
Common nails #5 3 kgs 70.00 210.00
Lumber 2x2x8ft. 1 bdls 400.00 400.00
Lumber 1x2x8ft. 4 bdls 400.00 1,600.00
Plastic Rattan 2 rolls 75.00 150.00
Common nails #3 1 kgs 70.00 70.00
Total Materials Cost (A) 8,950.00
Labor Cost: Hut Construction (B) 10 MAD 250.00 2,500.00
TOTAL COST (A+B) 11,450.00 3 3,816.67 3,816.67 7,633.33 11,450.00

Mooring System
P.E. rope 20,, (100m) 1 roll 3,600.00 3,600.00
Mooring Blocks (500kgs cap) 4 pcs 2,500.00 10,000.00
TOTAL COST 13,600.00 3 4,533.33 4,533.33 9,066.67 13,600.00

Tools and Equipment


Annual Accu. Dep'n
Particulars Quantity Unit Unit Cost Total Cost Life Span
Depreciatio Year 1 Year 2 Year 3
Flashlight (Heavy duty) 1 pc 780.00 780.00 3 260.00 260.00 520.00 780.00
Weighing Scale (10 kgs capacity) 1 pc 680.00 680.00 3 226.67 226.67 453.33 680.00
Non-motorized Banca 1 pc 6,000.00 6,000.00 3 2,000.00 2,000.00 4,000.00 6,000.00
TOTAL 7,460.00 2,486.67 2,486.67 4,973.33 7,460.00

3. Planned capacity/production cycle per year: 2,700kg/cropping @ 2 cropping/year


4. Future capacity: the project is expected to expand another one (1) unit of FishCage after
one (1) year. A production of 5,400 kg per cropping.
5. Raw materials (Production Cost)

Farm Inputs (Insert table in Section 2. Prod'n Plan - #6 Farm Inputs (volume, Cost, source))
Total Cost (1st Total Cost (2nd
Item/Description/Specification Quantity Unit Unit Cost Source Year 1 Year 2 Year 3
Cropping) Cropping)
Milkfish Fingerlings (50-60g) 6,000 pcs 6.00 36,000.00 36,000.00 72,000.00 73,800.00 75,645.00
Starter Pellets (Extruded) 20 bags 690.00 13,800.00 13,800.00 27,600.00 28,290.00 28,997.25
Grower Pellets (Extruded) 80 bags 800.00 64,000.00 64,000.00 128,000.00 131,200.00 134,480.00
Finisher Pellets (Extruded) 30 bags 790.00 23,700.00 23,700.00 47,400.00 48,585.00 49,799.63
Total ₱ 137,500.00 ₱ 137,500.00 ₱ 275,000.00 ₱ 281,875.00 ₱ 288,921.88
Note: Costs are assumed to inrease by 2.5% annually based on the inflation rate in CARAGA.

6. Labor ( manpower and cost)

Direct Labor (Insert table in Section 2. Prod'n Plan - #7 Labor ( manpower and cost))
Position No. of Worker/s Duties Basic Salary 1st Cropping 2nd Cropping Year 1 Year 2 Year 3
Direct Labor
Caretaker 1 P1,500 per month 6,000.00 6,000.00 12,000.00 12,300.00 12,607.50
Subtotal 6,000.00 6,000.00 12,000.00 12,300.00 12,607.50
Indirect Labor
Harvesters 2 P250 per day 500.00 500.00 1,000.00 1,025.00 1,050.63
Subtotal 500.00 500.00 1,000.00 1,025.00 1,050.63
Total ₱ 6,500.00 ₱ 6,500.00 ₱ 13,000.00 ₱ 13,325.00 ₱ 13,658.13
Note: Costs are assumed to inrease by 2.5% annually based on the inflation rate in CARAGA.

7. Production cost:

Production Cost (Insert table in Section 2. Prod'n Plan - #8 Production Cost)


Particulars 1st Cropping 2nd Cropping Year 1 Year 2 Year 3
Farm Inputs 137,500.00 137,500.00 275,000.00 281,875.00 288,921.88
Direct Labor 6,000.00 6,000.00 12,000.00 12,300.00 12,607.50
Production Overhead 15,338.27 15,338.27 30,676.53 30,767.11 30,859.96
Total Production Cost 158,838.27 158,838.27 317,676.53 324,942.11 332,389.33

8. Overhead expenses

Production Overhead (Insert table in Section 2. Prod'n Plan - #9 Overhead Expenses)


Particulars 1st Cropping 2nd Cropping Year 1 Year 2 Year 3
Indirect Labor
(2 Harvesters x Php250.00 labor cost 500.00 500.00 1,000.00 1,025.00 1,050.63
per harvest)
Transportation/Freight-in 500.00 500.00 1,000.00 1,025.00 1,050.63
Repairs & Maintenance 811.60 811.60 1,623.20 1,663.78 1,705.37
Subtotal 1,811.60 1,811.60 3,623.20 3,713.78 3,806.62
Add: Depreciation 13,526.67 13,526.67 27,053.33 27,053.33 27,053.33
Amortization 3,333.33 3,333.33 6,666.67 6,666.67 6,666.67
Total ₱ 15,338.27 ₱ 15,338.27 ₱ 30,676.53 ₱ 30,767.11 ₱ 30,859.96
Note: Costs are assumed to inrease by 2.5% annually based on the inflation rate in CARAGA.
Repairs and Maintenance is assumed to be 2% of the total cost of facilities
Section 3: Organizational and management plan

1. Form of business:
Gentle Island Fisherfolk Association is a bonafide association, duly registered with the
Department of Labor and Employment (DOLE); accredited by the Sangguniang
Panlungsod of Cabadbaran; gendered (42% female); and all its 66 members are
registered fisherfolk.

2. Organizational structure

P.O

Administration/Finance Production Marketing

3. Staffing

Honorariums (Insert table in Section 3: Organizational and Management Plan/ Operations Plan - #3 Staffing)
No. of Mothly 2nd
Particulars Duties 1st Cropping Year 1 Year 2 Year 3
workers Honorarium Cropping
Project/Production Manager 1 250.00 1,000.00 1,000.00 2,000.00 2,050.00 2,101.25
Marketing Officer 1 250.00 1,000.00 1,000.00 2,000.00 2,050.00 2,101.25
Admin/ Monitoring and Evaluation Officer 1 250.00 1,000.00 1,000.00 2,000.00 2,050.00 2,101.25
Bookkeeper 1 200.00 800.00 800.00 1,600.00 1,640.00 1,681.00
Treasurer 1 200.00 800.00 800.00 1,600.00 1,640.00 1,681.00
Total 1,150.00 4,600.00 4,600.00 9,200.00 9,430.00 9,665.75
Note: Costs are assumed to inrease by 2.5% annually based on the inflation rate in CARAGA.

4. Pre-operating expenses

Training (Insert table in Section 3: Organizational and Management Plan/ Operations Plan - #4. Pre-operating Expenses)
No. of Business Annual Accu. Amortization
Particulars No. of Pax Unit Cost Total Cost
Day/s Life Amortization Year 1 Year 2 Year 3
Technical / Hands-on Training on
Project Management and culture of
milkfish.
a. Meal & Snacks 40 2 250.00 20,000.00 3 6,666.67 6,666.67 13,333.33 20,000.00
5. Office equipment and supplies

Office Supplies (Insert table in Section 3: Organizational and Management Plan/ Operations Plan - #5 Office Equipment and Suppl
Particulars Quantity Unit Cost 1st Cropping 2nd Cropping Year 1 Year 2 Year 3
Record Book (250 pages) 2 150.00 300.00 300.00 600.00 615.00 630.38
Ball pen 5 5.00 25.00 25.00 50.00 51.25 52.53
Total 325.00 325.00 650.00 666.25 682.91
Note: Costs are assumed to inrease by 2.5% annually based on the inflation rate in CARAGA.

6. Administrative expenses

Selling and Administrative Expense (Insert table in Section 3: Organizational and Management Plan/ Operations P
Particulars 1st Cropping2nd Cropping Year 1 Year 2 Year 3
Administrative
Honorariums 4,600.00 4,600.00 9,200.00 9,430.00 9,665.75
Miscellaneous Expense 250.00 250.00 500.00 512.50 525.31
Office Supplies 325.00 325.00 650.00 666.25 682.91
Subtotal (A) 5,175.00 5,175.00 10,350.00 10,608.75 10,873.97
Marketing Budget:
Packaging and Labelling
Communication Expense 50.00 50.00 100.00 102.50 105.06
Transportation/Freight-out 250.00 250.00 500.00 512.50 525.31
Subtotal (B) 300.00 300.00 600.00 615.00 630.38
Total (A+B) 5,475.00 5,475.00 10,950.00 11,223.75 11,504.34
Note: Costs are assumed to inrease by 2.5% annually based on the inflation rate in CARAGA.
Section 4. Financial plan

Milkfish in Cage
Gentle Island Fisherfolk Association
Total Project Cost
To be Acquired
Particulars Total
IFAD LGU PO
Assets
Facilities
Bamboo Floating Cage (8m x 8m x 4m) 46,150.00 2,500.00 48,650.00
Caretaker's Hut 8,950.00 2,500.00 11,450.00
Mooring System 13,600.00 13,600.00
Tools and Equipment -
Flashlight (Heavy duty) 780.00 780.00
Weighing Scale (10 kgs capacity) 680.00 680.00
Non-motorized Banca 6,000.00 6,000.00
Subtotal (A) 76,160.00 - 5,000.00 81,160.00
Other Assets
Pre-Operating Expenses (Training) 20,000.00 20,000.00
Subtotal (B) - 20,000.00 - 20,000.00
Total Assets (A+B) 76,160.00 20,000.00 5,000.00 101,160.00

Working Capital (4 months)


Farm Inputs 137,500.00 137,500.00
Direct Labor 6,500.00 6,500.00
Production Overhead 1,811.60 1,811.60
Selling & Administrative Expense 5,475.00 5,475.00
Subtotal 137,500.00 - 13,786.60 151,286.60

Total Project Cost 213,660.00 20,000.00 18,786.60 252,446.60

(Insert table in Section 4: Financial Plan - #2 Financing plan


Breakdown of IFAD Grant and requirement)
Particulars Quantity Unit Unit Cost Total Cost

Bamboo Floating Cage (8m x 8m x 4m)        


Bamboo Poles 12 k- 15 m., 5 in. dia. 40 pcs 120.00 4,800.00
Plastic Drums 12 pcs 1,000.00 12,000.00
Monolyn 189 lbs. test 5 kgs 450.00 2,250.00
P.E. Net 400/12, 4 K 100 MD 2 bdls 7,800.00 15,600.00
P.E. Rope 12mm 1 roll 1,500.00 1,500.00
P.E. Rope 1mm 5 rolls 100.00 500.00
Mononylon 180 lbs. test 1 kg 450.00 450.00
Netting Needle 5 pcs 30.00 150.00
Total Materials Cost       37,250.00
Caretaker's Hut        
Corrugated shape 40x12ft / 24 gauge 6 pcs 350.00 2,100.00
Hardwood 100 boardfeet 24.00 2,400.00
Umbrella Nails 1.5 kgs 100.00 150.00
Common Nails 5 kgs 70.00 350.00
Total Materials Cost       5,000.00
         
Mooring System        
P.E. rope 20,, (100m) 1 roll 3,600.00 3,600.00
Mooring Blocks (500kgs cap) 4 pcs 2,500.00 10,000.00
Total Cost       13,600.00
         
Tools and Equipment        
Flashlight (Heavy duty) 1 pc 780.00 780.00
Weighing Scale (10 kgs capacity) 1 pc 680.00 680.00
Non-motorized Banca 1 pc 6,000.00 6,000.00
Total Cost       7,460.00
Farm Inputs        
Milkfish Fingerlings (50-60g) 3,000 pcs 6.00 18,000.00
Starter Crumble (Premium) 5 bags 725.00 3,625.00
Starter Pellets (Extruded) 10 bags 690.00 6,900.00
Grower Pellets (Extruded) 50 bags 800.00 40,000.00
Finisher Pellets (Extruded) 35 bags 790.00 27,650.00
Total Cost       96,175.00
GRAND TOTAL       159,485.00
2. Projected Profit Income statement

Milkfish in Cage
Gentle Island Fisherfolk Association
Projected Income Statement
For the Years Ending
PARTICULAR 1st Cropping 2nd Cropping YEAR 1 YEAR 2 YEAR 3
INCOME
CASH SALES
Sales of output 243,000.00 256,500.00 499,500.00 509,521.44 519,743.94
A. TOTAL SALES 243,000.00 256,500.00 499,500.00 509,521.44 519,743.94
NON-CASH SALES
Produced given to others - - - - -
B. TOTAL NON-CASH SALES - - - - -
C.TOTAL INCOME (A-B) 243,000.00 256,500.00 499,500.00 509,521.44 519,743.94

COSTS
VARIABLE CASH COSTS
Farm Inputs 137,500.00 137,500.00 275,000.00 281,875.00 288,921.88
Direct Labor 6,000.00 6,000.00 12,000.00 12,300.00 12,607.50
Production Overhead:
Indirect Labor 500.00 500.00 1,000.00 1,025.00 1,050.63
Transportation/Freight-in 500.00 500.00 1,000.00 1,025.00 1,050.63
Selling and Admin. Exp:
Transportation/Freight-out 250.00 250.00 500.00 512.50 525.31
D. TOTAL VARIABLE COSTS 144,750.00 144,750.00 289,500.00 296,737.50 304,155.94
E. GROSS MARGIN(C-D) 98,250.00 111,750.00 210,000.00 212,783.94 215,588.01
FIXED CASH COSTS
Production Overhead:
Repairs and Maintenance 811.60 811.60 1,623.20 1,663.78 1,705.37
Selling and Admin. Exp.:
Honorariums 4,600.00 4,600.00 9,200.00 9,430.00 9,665.75
Miscellaneous Expense 250.00 250.00 500.00 512.50 525.31
Office Supplies 325.00 325.00 650.00 666.25 682.91
Promotional Expense - - - - -
Communication Expense 50.00 50.00 100.00 102.50 105.06
F. TOTAL FIXED CASH COSTS 6,036.60 6,036.60 12,073.20 12,375.03 12,684.41
FIXED NON-CASH COSTS
Depreciation 13,526.67 13,526.67 27,053.33 27,053.33 27,053.33
Amortization 3,333.33 3,333.33 6,666.67 6,666.67 6,666.67
G. TOTAL FIXED NON-CASH COSTS 16,860.00 16,860.00 33,720.00 33,720.00 33,720.00
H. TOTAL COSTS (D+F+G) 167,646.60 167,646.60 335,293.20 342,832.53 350,560.34
I. NET INCOME BEFORE TAX (C-H) 75,353.40 88,853.40 164,206.80 166,688.91 169,183.60
J. TAX(3%) 2,260.60 2,665.60 4,926.20 5,000.67 5,075.51
K. NET INCOME (I-J) 73,092.80 86,187.80 159,280.60 161,688.25 164,108.09
3. Projected cash flow

Milkfish in Cage
Gentle Island Fisherfolk Association
Projected Cash Flow
For the Years Ending
PRE-OPERATION 1st Cropping 2nd Cropping YEAR 1 YEAR 2 YEAR 3
Cash Inflows
Cash Sales 243,000.00 256,500.00 499,500.00 509,521.44 519,743.94
PO Equity - CBU or Initial
7,286.60
Investment
A.TOTAL CASH INFLOWS 7,286.60 243,000.00 256,500.00 499,500.00 509,521.44 519,743.94

Cash Outflows
Farm Inputs 137,500.00 137,500.00 281,875.00 288,921.88
Direct Labor 6,000.00 6,000.00 12,000.00 12,300.00 12,607.50
Production Overhead:
Indirect Labor 500.00 500.00 1,000.00 1,025.00 1,050.63
Transportation/Freight-in 500.00 500.00 1,000.00 1,025.00 1,050.63
Repairs and Maintenance 811.60 811.60 1,623.20 1,663.78 1,705.37
Selling and Administrative
Expenses:
Honorariums 4,600.00 4,600.00 9,200.00 9,430.00 9,665.75
Communication Expense 50.00 50.00 100.00 102.50 105.06
Miscellaneous Expense 250.00 250.00 500.00 512.50 525.31
Office Supplies 325.00 325.00 650.00 666.25 682.91
Transportation/Freight-out 250.00 250.00 500.00 512.50 525.31
Promotional Expense - - - - -
Withdarwals - CBU 7,286.60 7,286.60
Distribution of Dividends 111,496.42 111,496.42 113,181.77 114,875.67
B. TOTAL CASH OUTFLOWS - 20,573.20 262,283.02 282,856.22 422,294.30 431,716.01

C.NET CASH FLOW BEFORE TAX (A-B) 7,286.60 222,426.80 - 5,783.02 216,643.78 87,227.14 88,027.94

D. Tax (3%) 2,260.60 2,665.60 4,926.20 5,000.67 5,075.51


E. NET CASH FLOW (C-D) 7,286.60 220,166.20 - 8,448.62 211,717.58 82,226.47 82,952.43
F. Beginning Cash Balance (G) 7,286.60 227,452.80 7,286.60 219,004.18 301,230.65
G. Ending Cash Balance (E+F) 7,286.60 227,452.80 219,004.18 219,004.18 301,230.65 384,183.08

4. Balance Sheet
Milkfish in Cage
Gentle Island Fisherfolk Association
Projected Balance Sheet
As of the Years Ending
PARTICULAR PRE-OPERATION 1st Cropping 2nd Cropping YEAR 1 YEAR 2 YEAR 3
ASSETS
CURRENT ASSETS
Cash 7,286.60 227,452.80 219,004.18 219,004.18 301,230.65 384,183.08
Farm Inputs Inventory 137,500.00
Total Current Assets 144,786.60 227,452.80 219,004.18 219,004.18 301,230.65 384,183.08

NON-CURRENT ASSETS
Fixed Assets
Facilities 73,700.00 73,700.00 73,700.00 73,700.00 73,700.00 73,700.00
Tools and Equipment 7,460.00 7,460.00 7,460.00 7,460.00 7,460.00 7,460.00
Total Fixed Assets 81,160.00 81,160.00 81,160.00 81,160.00 81,160.00 81,160.00
Less: Accumulated Depreciation 13,526.67 27,053.33 27,053.33 54,106.67 81,160.00
Net Fixed Assets 81,160.00 67,633.33 54,106.67 54,106.67 27,053.33 -
Total Noncurrent Assets 81,160.00 67,633.33 54,106.67 54,106.67 27,053.33 -

OTHER ASSETS
Pre-Operating Expenses (Training) 20,000.00 20,000.00 20,000.00 20,000.00 20,000.00 20,000.00
Less: Accum. Amortization 3,333.33 6,666.67 6,666.67 13,333.33 20,000.00
Total Other Assets 20,000.00 16,666.67 13,333.33 13,333.33 6,666.67 -
TOTAL ASSETS 245,946.60 311,752.80 286,444.18 286,444.18 334,950.65 384,183.08

LIABILITIES & EQUITY


Capital Beginning 245,946.60 311,752.80 245,946.60 286,444.18 334,950.65
Add: IFAD Grant Proceeds 213,660.00 - -
LGU Counterpart 20,000.00
PO Equity - CBU
7,286.60
(43members x Php285.89)
PO Equity - In-kind 5,000.00
Net Income 73,092.80 86,187.80 159,280.60 161,688.25 164,108.09
Subtotal 245,946.60 319,039.40 397,940.60 405,227.20 448,132.42 499,058.75
Less: Withdrawals - CBU - 7,286.60 - 7,286.60 - -
Distribution of Dividends - - 111,496.42 111,496.42 113,181.77 114,875.67
CAPITAL, END 245,946.60 311,752.80 286,444.18 286,444.18 334,950.65 384,183.08
TOTAL LIABILITIES & OWNER’S
245,946.60 311,752.80 286,444.18 286,444.18 334,950.65 384,183.08
EQUITY

7. Breakeven point and Return on Investment

Section 5. Sustainability or Expansion Plan


The Local Government Units (LGUs) together with the PO as beneficiary shall ensure
that the project will be sustained as additional source of livelihood to its members.

The PO beneficiary will set aside at least 10% of their net income per cropping cycle and
save. The organization will also set aside at least 10% of its net income for the Trust Fund. The
Trust Fund is a separate account of the PO where shares of the beneficiaries derived from the
bangus culture are deposited. This will be used for re-investing bangus culture for the next cycle.
Another 10% of the PO’s net income will be set aside for the mobilization fund to support
operational activities of the PO related to Bangus culture.

The remaining 70% of the PO’s net income will be shared among the members as
dividend. With Trust Fund in place for re-investment and the functionality of the key officers and
committees, and the technical support from BFAR and other support agencies, the PO can
already manage the project sustainably. Strengthen partnership with the relevant agencies, such
as DENR, LGU, NGO, BFAR. LGU- Management of resources in their locality.
MONITORING AND EVALUATION, M&E

The success in the management of any bangus culture project generally depends on the care and
maintenance of the stocks. It is imperative that the project be vigorously monitored weekly,
which can be conducted through a joint effort of PO, LGU and BFAR-FishCORAL. Monitoring
shall be repeated every production cycle, which shall focus mainly on the application of the
technology disseminated during the lecture. Specifically, it shall determine the:

a. Status and condition of the fishpen;


b. Extent of the pen operational plan/schedules of implementation;
c. Production, income of the beneficiaries;
d. Growth of the stock to project future harvest.

Project updating shall be done through conducting regular meeting every month. Participative
project evaluation shall be done during mid and post project activities to be undertaken by
FishCORAL and LGU. The reports highlighting project successes and lessons learned will
provide basis for developing future plans, particular for sustaining projects or project expansion.

ANNEXES

I. List of direct sub-project implementers/beneficiaries with filled-up baseline.

Gende AG
Designation
Name r E
1 Rheabeth J. Ranque President Female 36
2 Jerry C. Dejarme Vice President Male 33
3 Marialyn R. Ellevera Secretary Female 25
4 Gloria N. Legaspi Treasurer Female 36
5 Nestor I. Ellevera Auditor Male 38
6 Emilda M. Baron P.R.O Female 49
7 Librada D. Yumo P.R.O Female 57
8 Roslyn G. Dela Pesa Business Manager Female 55
9 Anthony D. Yumo Peace Officer Male 35
1
0 Junrey G. Dela Pesa Peace Officer Male 33
1
1 Jover G. Dela Pesa Peace Officer Male 35
1
2 Arnel G. Sienes BOD Male 37
1
3 Angelo E. Perez Jr. BOD Male 31
1
4 Jona Mary C. Antiga BOD Female 23
1
5 Gina B. Antiga BOD Female 24
1
6 Virgelio Buco BOD Male 60
1
7 Simplicio N. Baron BOD Male 60
1
8 Naga C. Abdul BOD Male 27
1
9 Mario I. Ellevera Member Male 50
2
0 Leonardo C. Bacergo Sr. Member Male 63
2
1 Ryan F. Antiga Member Male 25
2
2 Gelyn G. Antiga Member Female 20
2
3 Roderick D Tabama Member Male 31
2
4 Orlando S. Chavez Member Male 43
2
5 Allan A. Ellevera Member Male 40
2
6 Madelyn Yumo Member Female 27
2
7 Genesis O. Higuinto Member Male 26
2
8 Jonalyn E. Taylan Member Female 23
2
9 Cheryl Dalo Member Female 27
3
0 Ellen E. Dela Pesa Member Female 31
3
1 Lucita V. Rojo Member Female 60
3
2 Jolie A. Higuinto Member Female 21
3
3 Bon Higuinto Member Male 25
3
4 Ara A. Higuinto Member Female 18
3
5 Fe S. Chavez Member Female 38
3
6 Genelyn G. Dela Pesa Member Female 29
3
7 Jovannie P. Dela Pesa Member Male 56
3 Domie C. Rodriguez Member Female 39
8
3
9 Jack G. Bacergo Member Male 28
4
0 Glenn Zapanta Member Male 28
4
1 Felix I. Ellevera Sr. Member Male 54
4
2 Jefrey G. Dela Pesa Member Male 27
4
3 William D. Yumo Jr. Member Male 30
4
4 Welson C. Antiga Member Male 31
4
5 Daylinda N. Gales Member Female 44
4
6 Jenny T. Abdul Member Female 28
4
7 Norito M. Taylan Member Male 50
4
8 Lourdes E. Taylan Member Female 49
4
9 Joselito O. Higuinto Member Male 50
5
0 William B. Yumo Sr. Member Male 59
5
1 Noriel F. Antiga Member Male 23
5
2 Dennis V. Saylones Member Male 40
5
3 Merlyn Ellevera Member Female 53
5
4 Melinda A. Piedra Member Female 50
5
5 Juvielyn Perez Member Female 28
5
6 Liza E. Dela Pesa Member Female 38
5
7 Mario B. Ranque Jr. Member Male 38
5
8 Ronaldo Dalo Member Male 26
5
9 Nelson C. Antiga Member Male 36
6
0 Mary Joy R. Dejarme Member Female 34
6
1 Dorie B. Rodriguez Member Male 40
6
2 Alexander H. Constantino Jr. Member Male 18
6
3 Joel D. Cabalan Sr. Member Male 48
6
4 Rogelio A. Gales   Member Male 49
6
5 Jesryl J. Dagani   Member Male 28
6
6 Emily N. Cabalan Member Female 42

Requested by: Prepared and Assisted by:

RHEABETH J. RANQUE JONALYN J. NAÏVE


PO President FishCORAL Community Facilitator

Endorsed by: Recommended by:

MA. ARCELI C. SORIA EDGARDO P. BALAMBAO


City Agriculturist Regional FishCORAL Project Coordinator

Approved by:

DR. JUAN D. ALBALADEJO


Regional Director
FEEDS & FEEDING MANAGEMENT

Feeding Guide based on stocking density (SD) 6,000 pcs bangus fingerling
Feed Type (# of bags)
Days of Feeding
Culture Rate (FR) Starter Grower Finisher Kg/bag Total
(DOC) Pellets Pellets Pellets

1 – 30 6%
(1st month) 20 20 400

31-60 5%
(2nd month) 35 25 875

61-90 4%
(3rd month) 45 25 1,125

91-120 3%
(4th month) 30 25 750

Total 3,150