Municipality of Compostela

Statement of Financial Position - All Funds

As at December 31, 2016
(With Comparative Figures for CY 2015)
(In Philippine Peso)

Note 2016 2015

ASSETS
Current Assets
Cash and Cash Equivalents 4 171,791,371.12 113,028,625.13
Receivables 5 63,647,942.44 13,874,477.00
Inventories 6 24,353,924.26 8,475,660.03
Prepayments and Deferred Charges 7 753,110.14
295,220.47
Total Current Assets 260,088,458.29 136,131,872.30
Non-Current Assets
Property, Plant and Equipment 8 182,491,033.84 173,924,938.36
Total Non-Current Assets 182,491,033.84 173,924,938.36
Total Assets 442,579,492.13 310,056,810.66

LIABILITIES
Current Liabilities
Financial Liabilities 9 17,555,795.17 15,228,568.76
Inter-Agency Payables 10 53,153,281.07 34,271,904.32
Intra-Agency Payables 11 555,101.95 367,065.75
Trust Liabilities 12 13,509,160.21 1,387,076.86
Total Current Liabilities 84,773,338.40 51,254,615.69
Non-Current Liabilities
Loans Payable - Domestic 13 53,000,000.00 -
Deferred Credits/Unearned
14
Income 7,491,164.89 9,340,149.92
Other Payables 15 2,213,913.37 9,679,171.38
Total Non-Current Liabilities 62,705,078.26 19,019,321.30

Total Liabilities 147,478,416.66 70,273,936.99

NET ASSETS/EQUITY
Government Equity 16 295,101,075.47 239,782,873.67

Total Liabilities and Net Assets/Equity 442,579,492.13 310,056,810.66

-
(See accompanying Notes to Financial Statements.)

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 Municipality of Compostela

Statement of Financial Performance – All Funds

For the Year Ended December 31, 2016
(With Comparative Figures for CY 2015)
(In Philippine Peso)

Note 2016 2015

Revenue
Tax Revenue 17 19,936,631.62 19,945,739.17
Share from Internal Revenue
Collections 18 167,888,112.00 152,221,872.00
Service and Business Income 19 18,360,879.18 22,595,415.15
Shares, Grants and Donations 20 61,988.87 6,522,560.67
Other Income 21 767,913.16 33,482.75
Total Revenue 207,015,524.83 201,319,069.74

Less: Current Operating Expenses

Personnel Services 23 53,448,270.72 49,027,671.23
Maintenance and Other Operating
Expenses 24 97,450,008.37 87,110,770.23
Financial Expenses 25 184,500.55 455,172.28
Non-Cash Expenses 26 17,781,396.18 12,543,571.46
Current Operating Expenses 168,864,175.82 149,137,185.20

Surplus (Deficit) from Current Operation 38,151,349.01 52,181,884.54

Add (Deduct):
Transfers, Assistance and Subsidy
From 22 22,815,107.65 2,924,823.54
Transfers, Assistance and Subsidy T 27 (20,119,299.10) (8,891,494.34)
Surplus(Deficit) for the period 40,847,157.56 46,215,213.74

(See accompanying Notes to Financial Statements.)

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 Municipality of Compostela

Statement of Changes in Net Assets / Equity - All Funds

For the Year Ended December 31, 2016
(With Comparative Figures for CY 2015)
(In Philippine Peso)

Note 2016 2015

Balance at January 1 239,782,873.67 206,293,944.51

Add (Deduct)
Change in Accounting Policy - -
Prior Period Adjustment 16 (3,699,365.65) (12,661,980.08)
Restated Balance 236,083,508.02 193,631,964.43

Add (Deduct) Changes in net assets/equity

during the year
Adjustment of net revenue recognized
directly in net assets/equity - -
Surplus (Deficit) for the period 40,847,157.56 46,215,213.74
Total recognized revenue and
expenses for the period 40,847,157.56 46,215,213.74

Add (Deduct) Other Adjustments that

affect net assets/equity
Recognition of unrecorded assets
and assets from Trust Fund 641,019.82 18,178,646.52
Derecognition of PPE and Public
Infrastructures (479,428.13) (18,242,951.02)
Recognition of Public Infrastructures 18,008,818.20 -
Total other adjustments that affect
net assets/Equity 18,170,409.89 (64,304.50)

Balance at December 31 16 295,101,075.47 239,782,873.67

(See accompanying Notes to Financial Statements.)

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 Municipality of Compostela

Cash Flow Statement - All Funds

For the Year Ended December 31, 2016
(With Comparative Figures for CY 2015)
(In Philippine Peso)

Note 2016 2015

Cash Flows from Operating Activities
Cash Inflows
Collection from taxpayers 26,577,842.77 25,856,989.57
Share from Internal Revenue Allotment 167,888,112.00 152,221,872.00
Receipts from business/service income 11,604,622.96 10,677,422.71
Interest Income 254,233.90 178,943.97
Other Receipts 96,819,053.98 42,117,593.29
Total Cash Inflows 303,143,865.61 231,052,821.54
Cash Outflows
Payments to suppliers and creditors 24,083,784.47 21,328,580.95
Payments to employees 99,497,959.04 85,326,032.31
Interest Expense 176,220.55 455,172.28
Other Expenses 104,381,189.25 65,958,054.89
Total Cash Outflows 228,139,153.31 173,067,840.43
Net Cash Flows from Operating Activities 75,004,712.30 57,984,981.11
Cash Flows from Investing Activities
Cash Outflows
Purchase/Construction of Investment Property - 1,267,023.56

Purchase/Construction of Property,
Plant and Equipment 12,229,458.63 17,735,007.35
Transfer of Funds for Implementation of
Capital - 2,800,000.09
Total Cash Outflows 12,229,458.63 21,802,031.00
Net Cash Flows from Investing Activities (12,229,458.63) (21,802,031.00)

Cash Flows from Financing Activities

Cash Outflows
Payment of loan amortization 4,012,507.68 4,012,507.68
Total Cash Outflows 4,012,507.68 4,012,507.68
Net Cash Flows from Financing Activities (4,012,507.68) (4,012,507.68)

Net Increase in Cash 58,762,745.99 32,170,442.43

Add: Cash at the Beginning of the year 113,028,625.13 80,858,182.70
Cash Balance at the End of the Year 4 171,791,371.12 113,028,625.13

(See accompanying Notes to Financial Statements.)

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 Municipality of Compostela

Statement of Comparison of Budget and Actual Amounts - All Funds

For the Year Ended December 31, 2016
(In Philippine Peso)

Budget Amounts Difference Original Actual Difference Final

Particulars Notes
Original Final and Final Budget Amount Budget and Actual
Revenue
A. Local Sources
1. Tax Revenue
a. Tax Revenue - Property 9,000,000.00 10,789,323.06 1,789,323.06 6,203,079.35 (4,586,243.71)
b. Tax Revenue - Goods and Services 11,010,000.00 11,010,000.00 - 10,344,604.30 (665,395.70)
c. Other Local Taxes 1,200,000.00 3,586,765.23 2,386,765.23 3,656,495.85 69,730.62
Total Tax Revenue 21,210,000.00 25,386,088.29 4,176,088.29 20,204,179.50 (5,181,908.79)
2. Non-Tax Revenue
a. Service Income 6,210,000.00 6,210,000.00 - 6,413,716.63 203,716.63
b. Business Income 7,900,000.00 7,912,816.21 12,816.21 8,948,774.86 1,035,958.65
c. Other Income and Receipts 2,720,000.00 2,720,201.52 201.52 3,498,752.97 778,551.45
Total Non-Tax Revenue 16,830,000.00 16,843,017.73 13,017.73 18,861,244.46 2,018,226.73
B. 1.External Sources
Share from the National Internal
Revenue
Taxes (IRA) 167,391,124.00 167,391,124.00 - 167,888,112.00 496,988.00
3. Other Shares from the National Taxe Collection
c. Share from PAGCOR 50,000.00 50,000.00 - 61,988.87 11,988.87
Total Revenues and Receipts 205,481,124.00 209,670,230.02 4,189,106.02 207,015,524.83 (2,654,705.19)

Expenditures
General Public Services 81,668,208.00 97,335,147.77 15,666,939.77 85,653,062.30 11,682,085.47
Personal Services 32,243,027.00 41,074,108.13 8,831,081.13 37,413,064.32 3,661,043.81
Maintenance and Other Operating Expenses 47,307,181.00 50,872,529.64 3,565,348.64 44,192,054.98 6,680,474.66
Capital Outlay 2,118,000.00 5,388,510.00 3,270,510.00 4,047,943.00 1,340,567.00

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 Budget Amounts Difference Original Actual Difference Final
Particulars Notes
Original Final and Final Budget Amount Budget and Actual

Education 4,500,000.00 6,289,323.06 1,789,323.06 4,869,274.26 1,420,048.80

Maintenance and Other Operating Expenses 4,500,000.00 6,099,323.06 1,599,323.06 4,715,276.26 1,384,046.80
Capital Outlay - 190,000.00 190,000.00 153,998.00 36,002.00

Health, Nutrition and Population Control 20,326,788.28 21,416,968.53 1,090,180.25 19,589,152.44 1,827,816.09
Personal Services 6,740,228.92 7,830,409.17 1,090,180.25 6,795,598.35 1,034,810.82
Maintenance and Other Operating Expenses 13,586,559.36 13,586,559.36 - 12,793,554.09 793,005.27

Social Services and Social Welfare 15,731,812.72 7,309,146.86 (8,422,665.86) 7,008,350.21 300,796.65
Personal Services 2,045,724.08 2,048,349.00 2,624.92 2,045,724.08 2,624.92
Maintenance and Other Operating Expenses 13,586,088.64 5,160,797.86 (8,425,290.78) 4,862,626.13 298,171.73
Capital Outlay 100,000.00 100,000.00 - 100,000.00 -

Economic Services 29,573,983.58 65,697,670.53 36,123,686.95 59,249,882.61 6,447,787.92

Personal Services 6,110,942.00 7,795,233.78 1,684,291.78 7,193,883.97 601,349.81
Maintenance and Other Operating Expenses 21,670,587.00 22,140,330.80 469,743.80 18,235,244.44 3,905,086.36
Capital Outlay 1,792,454.58 35,762,105.95 33,969,651.37 33,820,754.20 1,941,351.75

Other Purposes: 4,197,008.23 4,197,008.23 - 4,197,008.23 -

Financial Expense 184,500.55 184,500.55 - 184,500.55 -
Amortization 4,012,507.68 4,012,507.68 - 4,012,507.68 -

LDRRMF 4,434,695.39 4,434,695.39 - 4,434,695.39 -

Maintenance and Other Operating Expenses 1,144,312.09 1,144,312.09 - 1,144,312.09 -
Capital Outlay 3,290,383.30 3,290,383.30 - 3,290,383.30 -

20% Development Fund 21,971,770.42 21,971,770.42 - 5,406,496.50 16,565,273.92

Maintenance and Other Operating Expenses 2,500,000.00 2,500,000.00 - 1,848,307.00 651,693.00
Capital Outlay 19,471,770.42 19,471,770.42 - 3,558,189.50 15,913,580.92

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 Budget Amounts Difference Original Actual Difference Final
Particulars Notes
Original Final and Final Budget Amount Budget and Actual

Others 23,076,857.38 20,599,119.98 (2,477,737.40) 3,828,851.23 16,770,268.75

Personal Services 10,738,504.00 10,738,504.00 - 10,738,504.00
Maintenance and Other Operating Expenses 7,317,464.91 6,243,152.82 (1,074,312.09) 3,828,851.23 2,414,301.59
Capital Outlay 5,020,888.47 3,617,463.16 (1,403,425.31) - 3,617,463.16

TOTAL 205,481,124.00 249,250,850.77 43,769,726.77 194,236,773.17 55,014,077.60

Surplus (Deficit) for the Period - (39,580,620.75) (39,580,620.75) 12,778,751.66 (57,668,782.79)

(See accompanying Notes to Financial Statements.)

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