ION ON
ISS
A
T
DI
U
PP
UB
IN
ES
REP
IC
OF
THE P
L
HI
COMMISSION ON AUDIT
Commonwealth Avenue, Quezon City
2013
Annual
Financial
Report
2013
Annual
Financial
Report
Table of Contents
Page
Chapter I - Introduction
Legal basis.
COA - CY 2013 Thrusts
Objectives
Structure, contents, and limitations
Methodology of summarization.
Guide to users
1
1
2
2
4
5
6
9
11
12
15
16
17
20
21
67
115
161
231
285
336
337
379
380
Chapter I
Introduction
Legal basis
1
The Corporate Government Sector of COA has audit jurisdiction over all GOCCs
including GFIs. In line with the implementation of the Integrated/Unified Audit
Approach, the GOCCs are grouped into six clusters (Annex 1) under the
supervision of Cluster Directors. The summary functions of GOCCs under the
clusters are summarized in Annex 4.
Stand-alone GOCCs situated in the fifteen regions including water districts are
placed under the audit jurisdiction of the Regional Directors assigned nationwide.
competence
and
Objectives
5
It aims to make available to a wide range of users the necessary information on the
financial position, performance, changes in equity, and cash flows not only of the
individual GOCC but also of the entire corporate government. The wide range of
users include, among others, the President, the executive branch tasked to manage
the affairs of the entire bureaucracy, and the legislative branch of government in
charge of governance relative to its rendition of economic decisions. It also
provides information, in summarized form, on the audit observations and the
corresponding value-added measures recommended by the Commission, including
the status of implementation of the previous years audit recommendations,
intended to enhance the relevance and reliability of financial reporting and
management or operational processes of GOCCs. Primarily, the contents are aimed
at satisfying the information needs of government stakeholders, present and
potential investors, employees, lenders, suppliers and other trade creditors,
customers, and the public.
The AFR presents in capsule form the audited financial statements of the GOCCs
for the year ended December 31, 2013. It reports, in a summarized structure, the
GOCCs financial position as of December 31, 2013, the financial performance,
changes in equity, cash flows for the year then ended, and the summary of
significant accounting policies and other explanatory information. The details of
the CY 2013 financial statements including the findings and recommendations and
status of implementation of prior years audit recommendations are discussed in the
individual Annual Audit Report (AAR) of the respective GOCCs which can be
accessed from the COA website (www.coa.gov.ph). Reference to the individual
AAR is advised in view of its detailed layout and propriety of the agency-specific
financial information. The data as presented in the individual AARs shall
necessarily prevail over the summarized information presented in this report.
Featured in this 2013 AFR are the financial reports of 596 or 90.44 percent of the
total 659 GOCCs/GFIs under the audit jurisdiction of the Corporate Government
Sector of the Commission on Audit. Of the 596 agencies, 138 are regular GOCCs
Of the 596 financial reports consolidated in two volumes, only 309 or 51.85 percent
were audited while the remaining 287 or 48.15 percent are yet to be audited. The
bulk of the unaudited financial statements pertain to water districts located in the
different regions. These water districts are audited through team audit approach,
the audit engagement of which are usually performed after the audits of the regular
agencies. Audits of regular GOCCs are prioritized due to the assignment of
resident auditors in these agencies.
10
Chapter II presents the comparative financial highlights and analysis of the CYs
2013 and 2012 financial profile of GOCCs. Analysis is based on the overall
financial data and summary totals of the major line figures shown in the
consolidated financial statements as presented in Chapter III of this report.
11
12
Chapter IV presents the Summary Audit Results, which includes the (i) type of
audit opinions rendered, (ii) summary of significant and common audit
observations with their corresponding recommendations, (iii) suspensions,
disallowances and charges; and the (iv) summary of implementation of prior years
audit recommendations. Presented after Chapter IV are the various annexes to
support topics discussed.
13
Methodology of summarization
14
15
On the other hand, the financial information of water districts are initially
summarized at the regional level. The inputs coming from the fifteen regions for
the water districts are combined at the Office of the Assistant Commissioner for
Corporate Government Sector to generate the overall figures and presented as one
combined data for the water districts nationwide in the summarized financial
statements of Cluster 3 Public Utilities. The top level summarization done at the
Office of the Assistant Commissioner for CGS combines the financial data which
were summarized at the Cluster level.
16
Only those available data as of September 10, 2013 pertaining to the audit opinion
rendered, significant and common audit observations with their corresponding
recommendations, status of issuance and settlement of the notices of suspensions,
disallowances and charges and the status of implementation of prior years audit
recommendations for GOCCs are included in this report.
17
The financial reporting framework adopted by the GOCCs in the presentation and
preparation of the financial statements are varied. A significant number of GOCCs
grouped under Cluster 1 Banking and Credit adopts the Philippine Financial
Reporting Standards (PFRS) and to some extent, the various regulatory frameworks
such as those prescribed by the Bangko Sentral ng Pilipinas and the Insurance
Commission. All the other GOCCs adopt a variety of financial reporting
frameworks ranging from the PFRS, the accounting principles generally accepted
in the Philippines, and the accounting principles enunciated under the New
Government Accounting System (NGAS).
Guide to users
18
Volume II-A of the AFR is composed of four chapters, namely: (I) Introduction;
(II) Financial Highlights and Analysis; (III) Financial Statements; and (IV)
Summary Audit Results; and Annexes. The financial data as presented are
summarized/consolidated to provide readers an overview of the financial position
and results of performance of the entire corporate government sector.
19
The first set of summary financial statements presented in Chapter III, shows the
overall financial figures for the entire government corporate sector duly supported
with the summarized financial information by Cluster. The Cluster summarization
is further supported by the individual GOCC financial data which is published at
the COA Website at http://www.coa.gov.ph.
Chapter II
Financial Highlights and Analysis
20
The analysis and interpretation of the financial data of the entire governmentowned and/or controlled corporations (GOCCs) were based on the summary totals
of the major accounts from the combined financial statement components (balance
sheet, income statement, statement of changes in equity and statement of cash flow)
presented in Chapter III hereof. Such financial analysis and interpretation of data
are stated in general terms and do not reflect the financial position, performance,
changes in equity and corresponding cash flows of the individual GOCC. The
separate discussion on the financial highlights and analyses of the transactions of
the individual GOCC are presented in the Annual Audit Reports (AARs) rendered
by the Commission on Audit (COA) for each GOCC/government financial
institution (GFIs) which can be accessed through the COA Website at
http://www.coa.gov.ph.
Financial condition
21
The GOCCs had a combined total assets of P9,278.88 billion, total liabilities of
P7,023.79 billion and equity of P2,255.08 billion as of December 31, 2013. In
general, the excess of total assets over total liabilities indicates the ability of
GOCCs to deliver expected services and benefits to the public, its constituents and
various stakeholders. Further, the GOCCs net worth signify the amount that is
available for claims of the government as its major stakeholder. A graphical
comparison of the over-all financial condition of GOCCs for CYs 2013 and 2012 is
shown in Chart II 1.
Chart II 1
Comparative financial condition
(in billion pesos)
9,278.88
Assets
8,715.03
7,023.79
Liabilities
6,551.77
2,255.08
Equity
2,163.26
2,000
4,000
2012
6,000
2013
8,000
10,000
22
GOCCs ability to provide future services to its clients can be gleaned from its
combined CY 2013 total assets which reached the level of P9,278.88 billion, an
increase of P563.85 billion or 6.47 percent when compared to previous years level
of P8,715.03 billion. The top 20 GOCCs ranked in terms of total assets based on
those that submitted the required financial data is shown in Annex 5.
23
0.49%
7.23%
24
25
Chart II 4
Composition of non-current assets
(in percentage)
27.69%
Long-term receivables
Long-term investments
Property, plant & equipment
Investment property
BOT electric plants under capital lease
Intangible assets
M iscellaneous assets and deferred credits
Others
4.79%
1.46%
0.00%
0.00%
9.21%
29.98%
26.86%
26
The GOCCs collectively incurred total liabilities of P7,023.79 billion for CY 2013
higher by P472.03 billion or 7.20 percent as compared to previous years balance
of P6,551.77 billion. From among the GOCCs that submitted financial reports, the
top 20 agencies ranked by total liabilities are presented in Annex 6.
27
28
Chart II 4
Composition of non-current liabilities
(in billion pesos)
Other non-current
liabilities 744.65
Foreign
borrowings
346.00
Domestic
borrowings
435.82
29
The working capital or liquidity ratio (current assets of P6,166.78 billion divided
by current liabilities of P5,497.32 billion) shows a positive ratio of P1.12 current
assets for every P1.00 current liabilities.
30
Financial performance
31
32
The CY 2013 combined gross income of P732.57 billion posted a slight decrease of
P23.40 billion or 3.09 percent compared to the P755.97 billion generated in CY
2012. From among the GOCCs that submitted their financial statements, the top 20
GOCC revenue grossers are presented in Annex 10.
33
The bulk of the revenues generated by GOCCs came from its business and service
income amounting to P652.80 billion. The CY 2013 total is P9.27 billion or 1.44
percent higher compared to the 2012 total of P643.53 billion. Chart II 5 shows
the composition of income expressed in billion pesos.
Chart II 5
Composition of income
(in billion pesos)
700
600
500
400
300
200
100
0
Business and
service income
Gains and
premiums
Others
34
This years share of the National Government (NG) from the income of GOCCs
totaling P31.32 billion exceeded last years share of P28.99 billion by P2.33 billion
or 8.05 percent. The bulk of the amount was contributed by the Philippine
Amusement and Gaming Corporation (PAGCOR). The NG share from PAGCOR
is computed at 50 percent of winnings, net of payouts and after the five percent
franchise tax. It is directly remitted to the Bureau of Treasury.
35
The CY 2013 total expenses totalling P603.31 billion was lower by P35.00 billion
or 5.48 percent compared to the CY 2012 totals of P638.31 billion. The top 20
GOCCs ranked by total expenditures, culled from among those that submitted their
financial statements, is exhibited in Annex 11.
36
23.42
Business expenses
Personal services
M OOE
Financial expenses
63.84
Others
274.25
10
37
Taken from the submitted financial data of GOCCs included in the herein
consolidation, presented in Annex 12 is a summary of the discretionary (P24.54
million),
representation
and
entertainment
(P1,085.44
million),
extraordinary/contingency/emergency (P140.32 million), promotional/advertising
(P3,073.33 million), confidential/intelligence (P191.96 million), and consultancy
(P3,849.71 million) expenditures, or a total of P8,365.29 million, accounting for the
1.39 percent of the total expenditures incurred for CY 2013.
38
Subsidy provided by the national government (NG) and other government agencies
to GOCCs increased by P6.88 billion or 9.09 percent from P75.71 billion in 2012 to
P82.60 billion in CY 2013. Annex 13 presents the list of GOCCs and the annual
increase on subsidy received from the NG while Annex 14 details the subsidy
received from other government agencies.
39
40
Net income after taxes amounted to P168.86 billion at the end of CY 2013. The
amount is P20.68 billion or 13.95 percent more than the previous year-end total of
P148.18 billion.
41
A list of the top 20 GOCCs that remitted the sum of P12.07 billion dividends to the
NG during CY 2013 is presented in Annex 16.
42
Changes in equity
43
This years total equity which closed at P2,255.08 billion is higher by P91.82
billion or 4.24 percent compared to the previous years total equity of P2,163.26
billion.
44
The largest portion of the total equity was provided by surplus reserves amounting
to P927.25 billion which comprised 41.12 percent of the total equity. Other
11
Chart II 7
Composition of equity
(in billion pesos)
1000
5
7.2
92
900
800
700
600
500
400
300
1
4.4
17
5
6.5
38
3
1.2
18
200
.6 8
.4 8 249
4
21
8
1.4
12
100
0
l
y
s
rs
ity
gs
nt
i ta
ui t
qu
rve arni n
the
me
ap
eq
e
e
e
c
O
t
r
s
s
e
e
r'
en
in c
a re
sr
be
ed
Sh
rnm ai sal
pl u etai n
em
e
r
v
r
u
M
p
S
R
Go
Ap
Cash flows
46
At the end of calendar year 2013 the combined Cash Flow Statement showed cash
and cash equivalents amounting to P486.96 billion. The amount is P250.94 billion
or 106.32 percent higher than the previous year-end total of P236.02 billion. Chart
II 8 shows the comparative cash flow activities of GOCCs for calendar years
2013 and 2012.
12
400
Chart II 8
Comparative cash flow activities
(in billion pesos)
300
200
100
.09
308
8)
3.5
5
1
(
92
43.
0
-100
2013
)
5)
.87
7.1
5
(67
1
(
53
31.
2012
-200
Operating
47
Investing
Financing
An increase of P375.96 billion or 553.92 percent was noted in the net cash
provided from operating activities of CY 2013 as it reached P308.09 billion,
higher than the previous years negative net cash used from operating activities of
P67.87 billion. A total of P1,190.77 billion cash inflows were generated from
operations compared to the P882.68 billion cash out flows which the GOCCs
collectively incurred during the year.
48
Net cash used for investing activities at P153.58 billion in CY 2013 is 2.27 percent
lower than the P157.15 billion net cash used in investing activities in CY 2012.
Investing transactions in CY 2013 accumulated cash outflows amounting to
P395.07 billion which outpaced cash inflows of P241.49 billion. A decline of
P3.56 billion was noted in the cash used as the GOCCs collective cash outflows
continued to outpace cash inflows during the last couple of years.
49
The CY 2013 net cash provided by financing activities generated P43.92 billion
which depicted a P12.39 billion or 39.29 percent increase compared with the
previous year level of P31.53 billion. Net cash provided in financing activities
resulted from engaging inflows of P538.41 billion over P494.50 billion outflows.
13
Chapter III
Summary Financial Statements
50
The financial statements in the succeeding pages pertain to the summarized financial
data from the consolidated balance sheet, income statement, statement of changes in
equity, and cash flow statements of Government Owned and/or Controlled
Corporations (GOCCs) with head offices in the National Capital Region (NCR) under
the audit supervision of the six Clusters of the Corporate Government Sector as well
as the stand-alone GOCCs with head offices in the regions and the water districts
which are located nationwide.
51
The overall balance sheet presents the total financial position of GOCCs as of
December 31, 2013 while the income statement shows their entire financial
performance for the year ended December 31, 2013. The statement of changes in
equity provides information on all the changes in equity. The cash flow statement
imparts information on the cash flow from operating, investing and financing
activities as well as the effects of exchange rate changes.
52
53
The summarized financial statements showing the total per GOCC under each cluster
are also presented. These include the summarized financial statements of stand-alone
GOCCs, the head offices for which are located in the Regions. Audit supervisions of
these GOCCs are vested in the respective COA Regional Offices where these are
located. The overall total for the water districts is incorporated in Cluster 3 Public
Utilities.
54
14
2012
Assets
Current Assets
Cash and cash equivalents
Gross international reserves
Short-term investments
Receivables (net)
Inventories (net)
Prepayments and deferred charges
Others
6,166,775,942
445,791,287
3,670,012,816
817,637,457
1,144,135,360
37,423,620
21,628,486
30,146,916
5,660,842,938
366,668,298
3,424,294,819
697,201,407
1,084,522,769
44,062,085
17,602,942
26,490,618
Non-current assets
Long-term receivables (net)
Long-term investments (net)
Property, plant and equipment (net)
Investment property
BOT electric plants under capital lease
Intangible assets
Miscellaneous assets and deferred credits
Others
3,112,100,821
835,966,802
932,935,010
861,700,280
149,127,129
45,547,019
81,668
62,302
286,680,611
3,054,183,662
905,815,566
845,921,778
849,066,257
135,004,001
47,506,125
91,752
86,623
270,691,561
Total assets
9,278,876,763
8,715,026,601
5,497,322,929
3,236,119,595
797,451,937
293,904,980
546,887,101
75,046,833
13,361,575
34,792,932
499,757,976
5,014,816,317
3,036,675,906
692,657,077
278,496,737
411,046,498
69,756,287
10,604,973
32,087,802
483,491,037
Non-current liabilities
Bills payable
Mortgage payable
Notes payable
Bonds payable
Loans and advances payable
Contracts payable
BOT lease obligation
Provision for estimated liabilities
Accrued retirement benefits
Deferred credits
Others
1,526,470,962
61,578,394
115,672
17,621,134
51,477,665
890,363,866
51,533
254,865,466
576,835
3,012,750
99,708,641
147,099,006
1,536,949,126
70,461,687
637,246
14,134,826
48,807,845
890,818,733
42,455
265,356,326
628,938
3,024,819
97,934,595
145,101,656
Liabilities
Equity
Total liabilities and equity
7,023,793,891
2,255,082,872
9,278,876,763
6,551,765,443
2,163,261,158
8,715,026,601
15
2012
Income
732,570,932
755,965,961
652,800,204
29,904,413
49,866,315
643,530,060
47,938,312
64,497,589
31,324,479
28,991,835
701,246,453
726,974,126
Expenses
603,310,685
638,314,189
Business expenses
Personal services
Maintenance and other operating expenses
Financial expenses
Others
274,248,469
63,840,114
191,919,218
49,884,624
23,418,260
275,708,801
62,717,532
183,957,338
52,384,047
63,546,471
97,935,768
88,659,937
Subsidy income
82,598,688
75,714,218
180,534,456
164,374,155
11,675,730
16,191,713
168,858,726
148,182,442
(25,137,082)
31,199,068
143,721,644
179,381,510
16
2012
Government equity
Balance, beginning of period
Additions/deductions
Balance, end of period
375,471,355
11,079,006
386,550,361
340,435,967
34,824,348
375,260,315
Share capital
Balance, beginning of period
Additions/deductions
Balance, end of period
236,239,978
(21,757,006)
214,482,972
182,413,641
53,826,337
236,239,978
Contingent capital
Balance, beginning of period
Additions/deductions
Balance, end of period
47,605
142
47,747
47,307
298
47,605
Share premium
Balance, beginning of period
Additions/deductions
Balance, end of period
1,218,833
1,218,833
1,218,833
1,218,833
Invested capital
Balance, beginning of period
Additions/deductions
Balance, end of period
2,899,283
2,899,283
3,127,009
(227,726)
2,899,283
6,524,986
6,524,986
6,524,986
6,524,986
Restricted capital
Balance, beginning of period
Additions/deductions
Balance, end of period
10,649,364
1,910,580
12,559,944
11,114,698
(465,393)
10,649,305
Appraisal increment
Balance, beginning of period
Additions/deductions
Balance, end of period
187,305,171
(6,074,306)
181,230,865
162,669,447
24,635,724
187,305,171
Members equity
Balance, beginning of period
Additions/deductions
Balance, end of period
228,304,889
21,377,912
249,682,801
215,183,559
13,121,330
228,304,889
17
2013
Net unrealized gains and losses
Balance, beginning of period
Additions/deductions
Balance, end of period
2012
90,835,155
(21,913,628)
68,921,527
66,159,090
24,676,065
90,835,155
Donated capital
Balance, beginning of period
Additions/deductions
Balance, end of period
12,580,698
622,149
13,202,847
9,586,724
2,997,638
12,584,362
15,000
15,000
15,000
15,000
Miscellaneous surplus
Balance, beginning of period
Additions/deductions
Balance, end of period
3,536,431
187,831
3,724,262
9,698,948
(6,162,517)
3,536,431
Surplus reserves
Balance, beginning of period
Additions/deductions
Balance, end of period
867,651,555
59,594,947
927,246,502
801,444,703
66,206,852
867,651,555
19,366,517
(691,447)
18,675,070
1,540,511
17,826,006
19,366,517
Appraisal capital
Balance, beginning of period
Additions/deductions
Balance, end of period
6,320,841
50,295
6,371,136
193,472
6,127,369
6,320,841
Trust fund
Balance, beginning of period
Additions/deductions
Balance, end of period
110,216
2,388
112,604
106,306
3,910
110,216
Retained earnings
Balance, beginning of period
Additions/deductions
Balance, end of period
124,199,800
50,210,270
174,410,070
64,063,703
59,922,401
123,986,104
Treasury shares
Balance, beginning of period
Additions/deductions
Balance, end of period
(735)
(735)
(735)
(735)
18
2013
Accumulated other comprehensive income
Balance, beginning of period
Additions/deductions
Balance, end of period
Non-controlling interest in the net assets
Balance, beginning of period
Additions/deductions
Balance, end of period
Total Equity
2012
(9,598,954)
(3,197,504)
(12,796,458)
(9,822,257)
223,303
(9,598,954)
4,322
(742)
3,580
4,664
(342)
4,322
2,255,083,197
2,163,261,179
Variances between the total equity reflected in the Summary Statement of Changes in
Equity vis--vis the Summary Balance Sheet amounting to P0.33 million and P0.02 million
for the years ending 2013 and 2012, respectively, were attributed to the variances in the
financial statements of water districts. The breakdown thereof is presented in Annex E of
Volume II-B of this report.
19
2012
1,190,767,380
882,678,359
308,089,021
1,075,155,258
1,143,028,448
(67,873,190)
241,490,118
395,070,680
(153,580,562)
268,770,973
425,916,374
(157,145,401)
538,412,196
494,497,039
43,915,157
597,754,738
566,227,590
31,527,148
52,513,201
(94,052,388)
250,936,816
(287,543,831)
236,020,436
523,563,526
486,957,253
236,019,695
** Of the total variances between the cash and cash equivalents reflected in the Summary Cash
Flow Statement vis--vis the Summary Balance Sheet amounting to P41.17 billion and
P130.65 billion for the years ending 2013 and 2012, respectively, P41.70 billion and
P130.19 billion were attributed to the balances reflected as main components of the Bangko
Sentral ng Pilipinas gross international reserves, short-term investments and receivables
reduced by the demand liabilities consisting of government demand deposits and deposit of
banks and other financial institutions, P0.46 billion and P0.39 billion for years 2013 and
2012, respectively, were attributed to the non-submission of Statement of Cash Flows of the
National Irrigation Administration - Special Fund. The remaining P0.07 billion each for
years 2013 and 2012 resulted from the variances in the financial statements of water
districts. The breakdown thereof is presented in Annex D of Volume II-B of this report.
20
CLUSTER - 1
and
Note
2013
Assets
Current assets
Cash and cash equivalents
Gross International reserves
Short-term investments
Receivables (net)
Inventories (net)
Prepayments and deferred charges
Others
2
3
4
5
6
7
8
4,523,252,196.00
127,728,144
3,670,012,816
312,587,683
403,263,489
8,489,310
47,842
1,122,912
4,185,346,467
105,452,760
3,424,294,819
254,453,798
391,136,602
9,006,578
115,590
886,320
Non-current assets
Long-term receivables (net)
Long-term investments (net)
Property, plant and equipment (net)
Investment property
Others
9
10
11
12
13
290,051,740
24,087,101
180,320,172
20,165,009
15,738,867
49,740,591
323,501,563
39,609,446
165,468,162
19,095,603
11,204,305
88,124,047
4,813,303,936
4,508,848,030
4,809,496,592
3,236,119,595
797,451,937
293,904,980
8,434,256
42,124,301
431,461,523
4,484,028,502
3,036,675,906
692,657,077
278,496,737
10,535,898
36,253,883
429,409,001
235,350,309
61,578,394
15,621,134
35,461,347
63,486,288
1,499,273
394,787
57,309,086
234,887,608
70,461,687
12,134,826
32,796,054
63,965,418
1,509,763
471,497
53,548,363
5,044,846,901
4,718,916,110
(231,542,965)
4,813,303,936
(210,068,080)
4,508,848,030
Total assets
Liabilities and equity
Liabilities
Current liabilities
Deposit liabilities
Currency in circulation
Securities sold under agreements to repurchase
Trade and non-trade payables
Current portion of long-term debt
Others
14
15
16
17
19, 22
18
Non-current liabilities
Bills payable
Notes payable
Bonds payable
Loans payable
Accrued retirement benefits
Deferred credits
Others
19
20
21
22
23
24
25
Total liabilities
Equity
Total liabilities and equity
26
23
CB-BOL
CIC
PICCI
2013
2012
(As restated)
Assets
Current assets
Cash and cash equivalents
Gross International reserves
Short-term investments
Receivables (net)
Inventories (net)
Prepayments and deferred charges
Others
4,083,855,887
3,670,012,816
173,810,479
231,513,775
8,233,603
285,214
3,831,467,590
3,424,294,819
173,161,366
224,996,648
8,729,543
285,214
869,492
91,651
777,841
-
871,636
93,795
777,841
-
177,216
176,863
49
33
271
-
148,237
147,921
34
5
277
-
535,217
456,614
64,453
14,119
31
-
501,131
422,774
64,775
13,422
160
-
Non-current assets
Long-term receivables (net)
Long-term investments (net)
Property, plant and equipment (net)
Investment property
Others
118,229,691
45,695,504
17,749,582
14,525,327
40,259,278
144,901,908
44,981,355
16,497,523
10,429,445
72,993,585
716,583
716,583
714,982
714,982
2,061
2,061
-
1,188
1,188
-
41,230
41,230
39,717
39,717
Total assets
4,202,085,578
3,976,369,498
1,586,075
1,586,618
179,277
149,425
576,447
540,848
4,080,275,056
2,978,406,003
797,451,937
293,904,980
449,700
3,835,419,974
2,854,129,486
692,657,077
278,496,737
449,700
416,565,215
191
416,565,190
166
591
591
592
592
219,072
100,267
221,268
85,703
10,062,436
9,686,974
416,565,024
416,565,024
118,805
135,565
81,039,619
75,636,292
1,412
105
22,198,052
57,661
1,479,812
20,537,695
52,792
1,501,127
Non-current liabilities
Bills payable
Notes payable
Bonds payable
Loans payable
Accrued retirement benefits
Deferred credits
Others
Total liabilities
Equity
Total liabilities and equity
2013
2012
2013
57,304,094
53,544,678
1,412
105
4,161,314,675
3,911,056,266
416,566,627
416,565,295
40,770,903
65,313,232
(414,980,552)
(414,978,677)
4,202,085,578
3,976,369,498
1,586,075
24
2012
(As restated)
1,586,618
2012
(As restated)
2013
591
592
219,072
221,268
178,686
148,833
357,375
319,580
179,277
149,425
576,447
540,848
AAIIBP
2012
(As restated)
DBPMC
2012
(As restated)
2013
2013
DCI
2012
2013
2012
415,258,575
119,377,860
332,564,653
99,734,270
664,491
434,932
686,835
547,523
44,555
40,519
40,163
36,126
62,318
23,735
51,228
21,187
136,878,030
159,002,685
-
80,238,107
152,592,276
-
6,441
220,042
1,991
1,085
-
6,646
130,175
1,774
717
-
4,036
-
4,037
-
38,076
507
-
29,802
239
-
Non-current assets
Long-term receivables (net)
Long-term investments (net)
Property, plant and equipment (net)
Investment property
Others
12,093,798
19,164,717
14,059
20,458
39,789
40,104
13,095
7,171
2,477,518
2,076,687
1,034,357
6,505,236.00
3,230,109
2,240,851
567,302
13,126,455
65
10,685
3,309
65
16,482
3,911
36,045
3,744
36,360
3,744
1,145
11,950
5,000
1,491
680
Total assets
427,352,373
351,729,370
678,550
707,293
84,344
80,267
75,413
58,399
298,810,107
251,083,365
3,274,805
40,526,554
3,925,383
217,569,894
176,920,854
2,897,871
35,041,742
2,709,427
286,155
244,466
422
41,267
265,359
223,429
1,050
40,880
4,029
4,026
3
4,196
4,196
-
11,473
11,312
161
11,611
11,450
161
87,788,855
58,904,426
15,621,134
13,263,295
91,829,972
67,436,787
12,134,826
12,258,359
Non-current liabilities
Bills payable
Notes payable
Bonds payable
Loans payable
Accrued retirement benefits
Deferred credits
Others
Total liabilities
Equity
Total liabilities and equity
3,580
-
3,580
-
19,461
-
8,636
-
3,580
3,580
19,461
-
8,636
-
386,598,962
309,399,866
286,155
265,359
7,609
7,776
30,934
20,247
40,753,411
42,329,504
392,395
441,934
76,735
72,491
44,479
38,152
427,352,373
351,729,370
678,550
707,293
84,344
80,267
75,413
58,399
25
IGLF
2012
(As restated)
LBRDC
LCDFI
2012
(As restated)
2013
2012
278,483
104,537
168,098
214
5,210
424
6,714,904
2,968,943
1,770,131
1,975,830
-
6,672,515
930,307
894,352
4,847,856
-
223,842
88,505
102,736
14,931
17,670
-
244,628
115,768
91,861
15,341
21,658
-
32,249
8,853
23,151
39
194
12
17,933
10,159
7,506
39
193
36
1,028,238
974,634
50,250
3,341
13
1,201,708
1,198,684
3,007
17
14,204
52
13,672
480
18,377
52
13,672
4,653
269,167
136,471
10,947
118,938
2,811
240,470
109,743
11,575
112,673
6,479
72,979
71,701
1,000
278
88,832
85,907
2,647
278
1,243,704
1,480,191
6,729,108
6,690,892
493,009
485,098
105,228
106,765
93,603
3,432
44,736
45,435
111,537
2,849
45,808
62,880
52,357
5,237
43,633
3,487
58,769
3,645
43,633
11,491
57,581
48,067
9,514
62,878
54,434
8,444
2,905
2,905
-
2,786
2,786
-
Non-current liabilities
Bills payable
Notes payable
Bonds payable
Loans payable
Accrued retirement benefits
Deferred credits
Others
527,936
267,149
647,366
336,978
392,698
392,698
436,331
436,331
75
-
147
-
260,787
-
310,388
-
75
-
147
-
Total liabilities
621,539
758,903
445,055
495,100
57,656
63,025
2,905
2,786
Equity
622,165
721,288
6,284,053
6,195,792
435,353
422,073
102,323
103,979
1,243,704
1,480,191
6,729,108
6,690,892
493,009
485,098
105,228
106,765
Assets
Current assets
Cash and cash equivalents
Gross International reserves
Short-term investments
Receivables (net)
Inventories (net)
Prepayments and deferred charges
Others
215,466
87,794
120,925
138
6,606
3
Non-current assets
Long-term receivables (net)
Long-term investments (net)
Property, plant and equipment (net)
Investment property
Others
Total assets
Liabilities and equity
Liabilities
Current liabilities
Deposit liabilities
Currency in circulation
Securities sold under agreements to repurchase
Trade and non-trade payables
Current portion of long-term debt
Others
26
2013
2013
2012
LLC
2012
2013
MSI
2012
2013
2013
2012
164,455
79,824
37,055
39,883
6,369
1,324
3,606,269
549,343
3,052,156
2,057
2,713
-
3,663,489
260,135
3,400,625
856
1,873
-
9,453
57
4,746
4,650
-
5,616
57
909
4,650
-
185,155
10,964
34,669
139,522
215,575
11,160
74,249
130,166
3,132,332
179,640
170,071
3,791,424
3,879,064
1,706,748
167,950
1,509,378
29,420
1,315,106
156,109
1,122,700
36,297
69,474
59,745
9,729
66,344
54,552
11,792
578,537
69,171
509,366
154,054
98,632
55,422
728,893
594,968
133,925
-
605,147
444,185
160,962
-
2,079,000
2,079,000
-
2,580,715
2,580,715
-
Assets
Current assets
Cash and cash equivalents
Gross International reserves
Short-term investments
Receivables (net)
Inventories (net)
Prepayments and deferred charges
Others
280,108
202,539
643
76,092
734
100
689,291
619,739
412
68,219
765
156
1,180,342
23,047
1,146,999
3,987
6,309
696,239
44,594
645,012
1,924
4,709
170,187
92,208
33,816
38,887
4,085
1,191
Non-current assets
Long-term receivables (net)
Long-term investments (net)
Property, plant and equipment (net)
Investment property
Others
715,386
687,398
24,293
3,695
214,831
186,035
25,603
3,193
2,531,982
2,406,292
14,524
33,118
7,254
70,794
2,436,093
2,319,316
7,060
35,170
2,314
72,233
Total assets
995,494
904,122
3,712,324
159,693
142,744
16,949
101,315
89,854
11,461
Non-current liabilities
Bills payable
Notes payable
Bonds payable
Loans payable
Accrued retirement benefits
Deferred credits
Others
PCFC
2012
(As restated)
Total liabilities
159,693
101,315
2,435,641
1,920,253
69,474
66,344
2,657,537
2,734,769
Equity
835,801
802,807
1,276,683
1,212,079
110,166
103,727
1,133,887
1,144,295
995,494
904,122
3,712,324
3,132,332
179,640
170,071
3,791,424
3,879,064
27
PDIC
2012
2013
PPSBI
2012
(As restated)
2012
(As restated)
2013
Assets
Current assets
Cash and cash equivalents
Gross International reserves
Short-term investments
Receivables (net)
Inventories (net)
Prepayments and deferred charges
Others
227,059
5,896
37,658
181,801
1,226
478
243,075
2,844
37,448
201,013
1,210
560
3,837,574
3,002,307
1,080
1,711
2,871
829,605
2,747,540
2,146,154
881
4,488
2,120
593,897
5,296,445
96,535
121,959
5,072,089
5,862
-
3,597,346
135,103
152,915
3,236,453
72,875
-
Non-current assets
Long-term receivables (net)
Long-term investments (net)
Property, plant and equipment (net)
Investment property
Others
22,306
10,934
11,372
24,422
13,208
11,214
152,130,564
20,361,539
129,796,575
142,801
1,829,649
151,677,624
35,557,665
115,095,500
146,453
878,006
1,922,000
344,636
1,354,064
82,653
140,647
2,487,770
533,781
1,730,971
88,284
134,734
249,365
267,497
155,968,138
154,425,164
7,218,445
6,085,116
1,066,002
1,055,871
10,131
1,039,408
1,034,076
5,332
2,975,296
2,975,296
-
5,555,389
5,555,389
-
6,562,698
6,385,761
62,524
114,413
5,502,832
5,402,137
32,844
67,851
6,577
-
6,577
-
62,762,203
-
63,132,740
-
6,577
6,577
62,762,203
63,132,740
1,072,579
1,045,985
Total assets
Liabilities and equity
Liabilities
Current liabilities
Deposit liabilities
Currency in circulation
Securities sold under agreements to repurchase
Trade and non-trade payables
Current portion of long-term debt
Others
Non-current liabilities
Bills payable
Notes payable
Bonds payable
Loans payable
Accrued retirement benefits
Deferred credits
Others
Total liabilities
Equity
Total liabilities and equity
65,737,499
68,688,129
6,562,698
5,502,832
(823,214)
(778,488)
90,230,639
85,737,035
655,747
582,284
249,365
267,497
155,968,138
154,425,164
7,218,445
6,085,116
28
Note
Income
27
28
Business expenses
Personal services
Maintenance and other operating expenses
Financial expenses
Others
Net income/(loss) before subsidy
Subsidy income
27
29
2013
102,426,624
102,626,521
83,610,251
8,436,005
10,380,368
92,354,902
1,734,168
8,537,451
116,368,023
190,039,333
80,745,987
14,162,695
12,459,585
8,423,363
576,393
107,323,072
13,285,959
10,401,014
8,356,655
50,672,633
(13,941,399)
(87,412,812)
3,455,580
3,238,476
(10,485,819)
(84,174,336)
3,373,315
2,991,515
(13,859,134)
(87,165,851)
(3,197,504)
(17,056,638)
29
2012
As restated
223,303
(86,942,548)
CB-BOL
CIC
2012
2013
PICCI
2012
As restated
2013
2012
2013
2012
As restated
2012
As restated
Income
62,174,515
65,682,211
2,178
4,291
2,370
1,471
214,613
210,126
49,298,356
5,598,245
7,277,914
59,400,882
6,281,329
2,168
10
3,171
1,120
2,370
1,471
200,038
14,575
192,516
17,610
Expenses
84,914,549
160,628,043
27,736
167,382
23,076
11,562
187,785
207,005
Business expenses
Personal services
Maintenance and other operating expenses
Financial expenses
Others
66,776,194
10,246,244
7,892,111
-
98,045,268
9,364,820
2,842,104
50,375,851
901
4,586
22,249
183
16,528
682
149,989
2,529
20,547
-
1,365
10,197
-
62,083
125,702
-
64,851
142,149
5
(22,740,034)
(94,945,832)
(25,558)
(163,091)
(20,706)
(10,091)
26,828
3,121
44,725
28,410
24,019
18,319
26,828
3,121
6,640
(22,740,034)
2,312,246
(25,052,280)
1,169,639
(23,882,641)
(94,945,832)
53,220
(94,999,052)
(38,203)
(95,037,255)
(25,558)
(25,558)
(25,558)
30
(163,091)
(163,091)
(163,091)
24,019
18,319
20,188
3,121
24,019
18,319
20,188
3,121
AAIIBP
2012
2013
DBPMC
DCI
2012
As restated
2013
As restated
2013
2012
2013
2012
Income
19,251,040
17,094,688
26,797
45,128
4,842
3,921
73,617
63,399
14,826,500
2,788,667
1,635,873
14,162,475
1,726,113
1,206,100
17,400
9,397
14,792
30,336
4,842
1,008
2,913
71,637
1,980
60,431
2,968
Expenses
13,290,906
12,266,522
76,336
76,781
283
634
64,492
58,035
2,142,842
2,518,545
3,473,222
4,682,390
473,907
2,117,953
2,451,728
2,862,978
4,687,633
146,230
1,010
37,941
37,305
80
-
1,823
37,558
37,247
153
-
283
-
634
-
24,293
37,292
2,705
202
12,965
41,692
3,378
-
Business expenses
Personal services
Maintenance and other operating expenses
Financial expenses
Others
Net income/(loss) before subsidy
Subsidy income
(49,539)
(31,653)
4,559
3,287
9,125
5,364
142
2,798
1,412
(49,539)
(31,653)
4,559
3,145
6,327
3,952
3,917
(49,539)
(31,653)
7,062
6,327
3,952
5,960,134
4,828,166
678,328
621,243
5,281,806
4,206,923
(4,307,899)
973,907
256,111
4,463,034
31
(315)
4,244
IGLF
LBRDC
LCDFI
2012
2013
2012
2013
2012
2013
2012
2013
As restated
Income
75,257
72,702
182,139
232,070
200,367
220,395
25,454
29,578
56,481
18,776
68,765
3,937
176,500
1
5,638
231,301
144
625
198,156
2,211
217,958
2
2,435
23,481
1,973
24,999
4,579
173,993
86,693
17,770
22,457
169,023
194,852
27,110
24,304
12,060
75,377
14,774
71,782
15,877
55,510
15,306
-
13,173
4,597
-
17,651
4,806
-
132,867
17,590
18,255
311
164,013
14,839
16,000
-
25,116
1,994
-
22,890
1,414
-
Subsidy income
(98,736)
(13,991)
Expenses
Business expenses
Personal services
Maintenance and other operating expenses
Financial expenses
Others
387
343
164,369
209,613
31,344
25,543
(1,656)
5,274
23,996
34,451
8,606
6,628
175,162
22,738
18,915
(1,656)
5,274
22,738
18,915
(1,656)
5,274
(99,123)
(14,334)
140,373
(28,476)
(99,123)
(14,334)
111,897
32
(5,985)
169,177
LLC
MSI
PCFC
2012
2013
2012
2013
2012
2013
As restated
2013
2012
115,939
115,309
506,632
519,963
225,596
182,856
290,801
344,073
87,607
28,332
85,976
228
29,105
453,396
53,236
461,880
58,083
225,596
-
182,856
-
286,745
4,056
342,672
1,401
Expenses
31,192
30,959
303,477
333,633
209,631
173,556
240,699
259,308
Business expenses
Personal services
Maintenance and other operating expenses
Financial expenses
Others
16,843
14,349
-
15,995
14,915
49
174,116
17,149
37,924
74,288
-
191,117
16,139
39,605
86,772
-
189,190
11,547
8,373
521
155,266
7,115
10,810
365
41,198
90,609
108,892
-
39,958
89,129
130,221
-
Subsidy income
84,747
84,350
203,155
186,330
15,965
9,300
50,102
84,765
17,203
16,767
44,421
40,739
4,477
3,291
15,384
21,462
67,544
67,583
158,734
145,591
11,488
6,009
34,718
63,303
67,544
67,583
11,488
6,009
34,718
63,303
Income
509
159,243
33
145,591
PDIC
2012
2013
PPSBI
2012
As restated
2013
2012
As restated
2013
As restated
Income
139,371
107,725
18,287,095
17,169,468
628,001
527,147
138,808
563
106,899
826
17,035,800
1,251,295
16,339,139
830,329
511,582
49,092
67,327
457,182
7,681
62,284
Expenses
183,622
149,998
15,879,300
14,850,783
547,043
496,826
Business expenses
Personal services
Maintenance and other operating expenses
Financial expenses
Others
116,403
12,068
11,351
36,379
7,421
87,833
12,888
14,073
35,060
144
11,055,256
952,341
377,998
3,493,705
-
6,400,212
1,057,584
4,005,120
3,387,867
-
108,700
176,364
253,721
8,258
-
123,732
143,367
221,572
8,155
-
(44,251)
(42,273)
2,407,795
2,318,685
80,958
30,321
3,410,855
3,210,066
(44,251)
(42,273)
5,818,650
5,528,751
80,958
30,321
242,297
2,191,817
16,532
(44,251)
(42,273)
5,576,353
3,336,934
64,426
30,321
(30,962)
7,463
(44,251)
(42,273)
33,464
37,784
Subsidy income
Net income/(loss) before tax
Income tax expense
Net income/(loss) after tax
Other comprehensive income/(loss)
Total comprehensive income/(loss)
5,576,353
34
3,336,934
Note
2013
2012
(As restated)
Government equity
Balance at beginning of period
Additions/(deductions)
Balance at end of period
803,304
803,304
803,304
803,304
Share capital
Balance at beginning of period
Additions/(deductions)
Balance at end of period
56,378,322
45,834
56,424,156
36,168,110
20,210,212
56,378,322
Restricted capital
Balance at beginning of period
Additions/(deductions)
Balance at end of period
3,015,000
3,015,000
3,015,000
3,015,000
Appraisal increment
Balance at beginning of period
Additions/(deductions)
Balance at end of period
61,200
61,200
66,444
(5,244)
61,200
Surplus reserves
Balance at beginning of period
Additions/(deductions)
Balance at end of period
143,297,967
(239,982)
143,057,985
138,937,084
4,360,883
143,297,967
Retained earnings/(Deficit)
Balance at beginning of period
Additions/(deductions)
Balance at end of period
(411,469,114)
(18,083,233)
(429,552,347)
(319,120,801)
(92,348,313)
(411,469,114)
(9,598,954)
(3,197,504)
(12,796,458)
(9,822,257)
223,303
(9,598,954)
6,524,986
6,524,986
6,524,986
6,524,986
919,209
919,209
919,209
919,209
29
26
35
(231,542,965)
(210,068,080)
40,770,903
CB-BOL
2012
(As restated)
20,000,000
20,000,000
40,000,000
2013
CIC
2012
2013
PICCI
2012
(As restated)
113,333
5,834
119,167
90,000
23,333
113,333
2012
(As restated)
2013
-
50,000
50,000
50,000
50,000
2,000
2,000
2,000
2,000
267,580
37,795
305,375
253,710
13,870
267,580
77,798,147
709,693
78,507,840
50,184,226
(95,323,130)
(45,138,904)
(8,017,500)
(38,204)
(8,055,704)
(414,978,677)
(1,875)
(414,980,552)
(414,833,176)
(145,501)
(414,978,677)
35,500
24,019
59,519
17,181
18,319
35,500
65,313,232
(414,980,552)
36
(414,978,677)
178,686
148,833
357,375
319,580
AAIIBP
2012
(As restated)
-
12,500,000
12,500,000
12,500,000
12,500,000
DBPMC
2012
(As restated)
2013
200,002
200,002
200,002
200,002
DCI
2012
(As restated)
2013
2013
2012
45,000
45,000
45,000
45,000
20,280
20,280
20,280
20,280
2,493
2,493
2,493
2,493
20,000
20,000
20,000
20,000
3,574
4,559
8,133
27,968
(24,394)
3,574
17,872
6,327
24,199
18,920
(1,048)
17,872
275,852
(47,767)
228,085
273,357
2,495
275,852
24,661,646
2,779,573
27,441,219
24,211,392
450,254
24,661,646
(1,632,980)
(4,307,899)
(5,940,879)
(1,889,091)
256,111
(1,632,980)
3,917
(315)
3,602
3,917
3,917
6,524,986
6,524,986
6,524,986
6,524,986
72,491
44,479
38,152
40,753,411
42,329,504
(565,799)
(49,539)
(615,338)
805,238
(534,146)
(31,653)
(565,799)
805,238
805,238
392,395
441,934
76,735
37
805,238
IGLF
2012
732,000
732,000
2013
-
2012
803,304
803,304
600,000
132,000
732,000
LBRDC
2013
803,304
803,304
LCDFI
2012
(As restated)
-
138,375
138,375
105,163
33,212
138,375
2013
2012
-
15,000
15,000
15,000
15,000
61,200
61,200
61,200
61,200
105,000
45,000
150,000
105,000
105,000
20,618
20,618
20,618
20,618
117,498
(31,720)
85,778
104,724
12,774
117,498
68,361
(1,656)
66,705
63,087
5,274
68,361
(10,712)
(99,123)
(109,835)
-
8,229
(18,941)
(10,712)
190,187
12,659
202,846
5,139,576
105,341
5,244,917
5,002,573
137,003
5,139,576
50,066
(28,476)
21,590
56,052
(5,986)
50,066
622,165
(1)
1
202,846
11,396
214,242
721,288
6,284,053
38
6,195,792
435,353
422,073
102,323
103,979
LLC
2012
300,000
300,000
2013
-
300,000
300,000
MSI
2012
485,552
485,552
2013
-
485,552
485,552
PCFC
2012
(As restated)
100,000
100,000
100,000
100,000
2013
2012
-
3,727
6,439
10,166
(2,282)
6,009
3,727
-
266,000
(111,000)
155,000
230,000
36,000
266,000
236,807
143,994
380,801
241,552
(4,745)
236,807
618,381
64,095
682,476
536,397
81,984
618,381
1,000,000
1,000,000
1,000,000
1,000,000
144,295
(10,408)
133,887
184,974
(40,679)
144,295
(5,825)
509
(5,316)
(5,825)
(5,825)
835,801
802,807
113,971
113,971
113,971
113,971
1,276,683
1,212,079
39
110,166
103,727
1,133,887
1,144,295
PDIC
2012
104,545
104,545
2013
-
104,545
104,545
(883,033)
(44,726)
(927,759)
(825,764)
(57,269)
(883,033)
PPSBI
2012
As restated
3,000,000
3,000,000
3,000,000
3,000,000
2012
(As restated)
2013
589,235
40,000
629,235
549,235
40,000
589,235
63,895,318
63,895,318
60,295,282
3,600,036
63,895,318
18,841,717
4,493,604
23,335,321
16,160,254
2,681,463
18,841,717
(48,523)
64,425
15,902
59,380
(107,903)
(48,523)
41,572
(30,962)
10,610
34,108
7,464
41,572
(823,214)
(778,488)
90,230,639
40
85,737,035
655,747
582,284
Note
Cash flows from operating activities
Cash inflows
Cash outflows
2013
2012
(As restated)
269,491,208
(154,345,225)
124,641,319
(320,256,839)
115,145,983
(195,615,520)
122,631,202
(202,364,567)
141,465,482
(255,390,587)
(79,733,365)
(113,925,105)
494,299,903
(387,209,809)
503,935,750
(427,973,167)
107,090,094
75,962,583
142,502,712
(233,578,042)
51,659,588
(93,461,534)
(24,736,581)
302,302,995
169,425,719
(24,736,581)
41
CB-BOL
2012
(As restated)
2013
CIC
2012
2013
PICCI
2012
2013
2012
69,688,961
(302,993,343)
3,430
(5,223)
8,391
(2,385)
47,056
(22,824)
29,881
(12,241)
214,547
184,691
(198,314)
(180,005)
18,609,458
(233,304,382)
(1,793)
6,006
24,232
17,640
16,233
4,686
(3,181,539)
(83,324,637)
(351)
(152)
(1,123)
(1,274)
(3,181,539)
(83,324,637)
(351)
(152)
(1,123)
(1,274)
474,607,165
(369,807,360)
481,341,271
(417,998,445)
5,834
-
23,333
-
18,006
(398)
14,362
(3,613)
104,799,805
63,342,826
5,834
23,333
17,608
10,749
Cash inflows
Cash outflows
Net cash provided by (used in) operating activities
Cash flows from investing activities
Cash inflows
Cash outflows
Net cash used in investing activities
Cash flows from financing activities
Cash inflows
Cash outflows
120,227,724
(253,286,193)
(2,144)
5,854
28,943
39,699
33,841
15,435
51,659,192
(93,461,384)
(130,189,341)
216,558,236
93,795
87,941
147,921
108,222
422,774
407,339
41,697,575
(130,189,341)
91,651
93,795
176,864
147,921
456,615
422,774
42
AAIIBP
2012
(As restated)
2013
DBPMC
2012
2013
DCI
2012
2013
2012
86,236,631
(7,574,321)
29,565,959
(3,527,943)
50,929
(158,617)
74,259
(89,182)
665
(449)
14,023
(3,101)
66,559
(63,712)
57,451
(56,566)
78,662,310
26,038,016
(107,688)
(14,923)
216
10,922
2,847
885
(61,951,790)
(9,180,287)
1,766
(6,669)
2,706
(5,664)
4,177
-
1,277
(27,539)
4,701
-
(61,951,790)
(9,180,287)
(4,903)
(2,958)
4,177
(26,262)
4,701
12,392,386
(9,459,316)
16,939,574
(4,213,681)
(5,000)
2,933,070
12,725,893
(5,000)
19,643,590
29,583,622
(17,881)
4,393
(15,340)
2,548
(112,591)
885
99,734,270
70,150,648
547,523
565,404
36,126
51,466
21,187
20,302
119,377,860
99,734,270
434,932
547,523
40,519
36,126
23,735
21,187
43
IGLF
2012
2013
LBRDC
2012
LCDFI
2013
2012
2013
177,483
(165,421)
215,170
(206,750)
2012
76,778
(61,888)
66,838
(65,043)
2,980,398
(898,129)
14,890
1,795
2,082,269
432,247
(1,098,398)
(666,151)
1,892
(17,359)
9,850
(5,048)
12,062
8,420
(15,467)
4,802
131,760
(352,457)
424
-
8,039
(37,906)
10,493
(24,198)
83,240
(69,080)
48,962
(56,209)
39,267
(220,697)
424
(29,867)
(13,705)
14,160
(7,247)
(70,901)
282,000
(17,535)
(43,633)
(43,633)
(9,458)
(6,141)
(70,901)
264,465
(43,633)
(43,633)
(9,458)
(6,141)
(16,744)
45,563
(709,360)
(27,263)
(11,426)
(1,307)
(2,445)
Cash inflows
Cash outflows
Net cash used in investing activities
Cash flows from financing activities
Cash inflows
Cash outflows
2,038,636
-
104,537
58,974
930,308
1,639,668
115,769
127,195
10,160
12,605
87,793
104,537
2,968,944
930,308
88,506
115,769
8,853
10,160
44
LLC
2012
MSI
2013
2012
2013
PCFC
2012
(As restated)
2013
2012
152,834
(33,094)
103,140
(53,288)
461,462
(925,613)
489,679
(389,393)
228,090
(206,671)
166,428
(143,569)
1,092,783
(258,076)
94,197
(304,676)
119,740
49,852
(464,151)
100,286
21,419
22,859
834,707
(210,479)
52,267
(554,656)
240,162
(1,318)
(174)
(2,169)
6
(4,264)
(15,297)
39,451
(2,110)
4,202
(932)
(502,389)
238,844
(174)
(2,169)
(4,258)
(15,297)
37,341
3,270
(34,551)
(36,000)
2,224,300
(1,781,522)
1,843,800
(1,917,296)
(4,777)
1,698,107
(2,280,947)
(34,551)
(36,000)
442,778
(73,496)
(4,777)
(582,840)
189,237
(417,200)
252,696
(21,547)
24,621
12,384
7,562
289,208
(17,972)
1,914,563
(1,725,326)
619,739
367,043
44,594
19,973
79,824
72,262
260,135
278,107
202,539
619,739
23,047
44,594
92,208
79,824
549,343
260,135
45
PDIC
2013
2012
2013
178,266
(171,872)
139,460
(140,082)
PPSBI
2012
2013
2012
6,394
(622)
21,198,684
(5,531,763)
21,417,929
(9,716,184)
1,993,680
(2,332,296)
1,882,765
(1,269,642)
15,666,921
11,701,745
(338,616)
613,123
(1,239)
94
(1,844)
122,030,204
(136,445,305)
140,998,660
(161,750,323)
286,153
(26,430)
26,742
(646,287)
(1,239)
(1,750)
(14,415,101)
(20,751,663)
259,723
(619,545)
(2,103)
5,982
(4,039)
3,314,105
(3,709,843)
1,530,865
(2,007,458)
40,000
-
40,000
-
(2,103)
1,943
(395,738)
(476,593)
40,000
40,000
(38,893)
33,578
3,052
(429)
856,082
(9,526,511)
71
(153)
2,844
3,273
2,146,154
5,896
2,844
3,002,307
46
325
11,672,818
135,103
101,522
2,146,154
96,535
135,103
47
revaluation and translation of foreign currency denominated assets and liabilities are
credited to or charged against operations in the year in which the rates change.
Non-monetary items that are measured in terms of historical cost in a foreign currency
are translated using the exchange rates as at the dates of the initial transactions. Nonmonetary items measured at fair value in a foreign currency are translated using the
exchange rates at the date when the fair value was determined.
Accrual Basis of Accounting
In accordance with Philippine Accounting Standard (PAS) 1, the financial statements,
except for cash flow information, have been prepared using the accrual basis of
accounting.
Significant accounting judgments and estimates
In accordance with PFRS and GAAP, the preparation of the financial statements
requires the use of certain critical accounting estimates and assumptions that affect the
reported amount of assets, liabilities, income and expenses and disclosure of
contingent assets and contingent liabilities. It also requires management to exercise its
judgment in applying the Corporations accounting policies. Future events may occur
which will cause the assumptions used in arriving at the estimates to change. The
effects of any change in estimates are reflected in the financial statements as they
become reasonably determinable.
Financial assets
Financial assets are classified in the following major categories: financial assets at fair
value through profit or loss, financial assets at fair value through other comprehensive
income, held to maturity investments, available-for-sale financial assets, investment in
securities, and loans and receivables. At initial recognition, the agencies classify the
financial assets based on the purpose for which they are acquired and re-evaluate the
designation at every reporting date.
Financial liabilities
BSPs financial liabilities are denominated in foreign and local currencies. Financial
liabilities denominated in foreign currency comprise of short-term foreign currency
deposits of banks, the National Government and other government entities, and short
and long-term borrowings of the BSP. These liabilities are initially recognized at cost
and subsequently converted at the current value using weighted average exchange
rates at the reporting date. Interest is accrued monthly and recognized in the
statement of profit or loss and other comprehensive income. Foreign currency
borrowings contracted after the creation of BSP in CY 1993 are collateralized either by
securities or gold. As of end of CY 2013, there are no outstanding foreign currency
borrowings collateralized by securities or gold.
Financial liabilities denominated in local currency refer to deposits of the National
Government, banks and other financial institutions. All banks and quasi-banks
operating in the country are required to maintain reserves against their deposit and/or
deposit substitutes liabilities. The reserve position of each bank or quasi-bank is
calculated daily on the basis of the amount of the institutions reserves at the close of
business for the day and the amount of its liability accounts against which reserves are
48
required to be maintained.
A portion of these deposits is paid interest at rates
approved by the Monetary Board until April 5, 2012. Interest is accrued monthly and
credited quarterly to the respective demand deposit accounts. The fair value of
deposits with no stated maturity is the amount repayable on demand.
Financial assets and liabilities are classified in the financial statements at the
appropriate assets and liabilities accounts.
Sale and repurchase agreements
Repurchase and reverse repurchase transactions are used as monetary tools when
BSP engages in purchase and sale of government securities that intends to expand or
contract, for the time being, money supply in the market. Government securities
purchased under agreements to resell are presented under Receivables while income
earned from the transaction is reflected in the statement of profit or loss and other
comprehensive income as business and service income.
Securities sold under agreements to repurchase remain part of the government
securities inventory but are reclassified in the financial statements every end of the
month. The obligation to repurchase is recognized as a liability while the difference
between the sale and repurchase price represents interest expense and is recognized
in the statement of profit or loss and other comprehensive income.
Impairment of financial assets
The Corporations assesses at each reporting date whether there is objective evidence
that a financial asset or group of financial assets is impaired. A financial asset or a
group of financial assets is impaired and impairment losses are incurred if, and only if,
there is objective evidence of impairment as a result of one or more events that
occurred after the initial recognition of the asset (a loss event) and that loss event has
an impact on the estimated future cash flows of the financial asset or group of financial
assets that can be reliably estimated.
If there is objective evidence that an impairment loss on loans and receivables carried
at amortized cost has been incurred, the amount of the loss is measured as the
difference between the assets carrying amount and the present value of the estimated
future cash flows discounted at the financial assets original effective interest rate. The
carrying amount of the asset is reduced through the use of an allowance account, and
the amount of the loss is recognized in the statement of profit or loss and other
comprehensive income.
If, in a subsequent period, the amount of the impairment loss decreases and the
decrease can be related objectively to an event occurring after the impairment was
recognized, the previously recognized impairment loss is reversed by adjusting the
allowance account. However, the carrying amount after the reversal of the impairment
loss should not exceed the carrying amount of the loan account had there been no
impairment loss recognized. The amount reversed is recognized in the statement of
profit or loss and other comprehensive income.
When an indicator of impairment of property and equipment, investment property and
other resources exists, the Corporations make a formal estimate of the recoverable
amount. Where the carrying amount of an asset exceeds its recoverable amount, the
asset is considered impaired and is written down to its recoverable amount.
Recoverable amount is the higher of an assets or cash-generating units fair value less
49
costs to sell and its value 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 group of assets.
Allowance for probable losses
Allowance for probable losses is adequately set up at a level to provide for potential
receivables, the collection of which is considered remote. The level of this allowance is
based on managements evaluation on past collection experience and other factors
that may affect collectibility. Periodic evaluation of receivables is made to identify
potential accounts that require allowance.
Property, plant and equipment
Property, plant and equipment, except land, are stated at cost less accumulated
depreciation/amortization and impairment in value. Cost includes expenditure that is
directly attributable to the acquisition of the items. Subsequent costs are included in
the assets carrying amount or recognized as a separate asset, as appropriate, when it
is probable that future economic benefits associated with the item will flow to the
entities and the cost of the item can be measured reliably. All other repairs and
maintenance are charged to the statement of profit or loss during the financial period in
which they are incurred.
Recognition of income and expenses
Income is recognized on accrual basis to the extent that it is probable that the
economic benefits will flow into the corporations and the income can be reliably
measured. Expenses are recognized on accrual basis when the expenses are
incurred.
Subsequent events
Any post-year end event that provides additional information about the Corporations
position at the reporting date (adjusting event) is reflected in the financial statements.
Post-year end events that are non-adjusting events, if any, are disclosed in the
individual Notes to financial statements, when material.
2.
50
2013
109,450,068
9,661,231
6,024,608
2,274,253
317,984
2012
(As restated)
78,356,424
5,743,714
5,158,203
7,265
1,187,154
127,728,144
15,000,000
105,452,760
The cash and cash equivalents, end of period, shown in the statement of cash flows of
the BSP aggregating P41,697,575 for 2013 and negative P130,189,341 for 2012 were
not included in the above breakdown. The said balances are reflected as main
components of gross international reserves, short-term investments and receivables
reduced by the demand liabilities consisting of government demand deposits and
deposit of banks and other financial institutions. This is consistent with the
presentation of the accounts in the balance sheet of BSP.
Short-term investments classified as cash equivalents have maturities of three months
or less from date of acquisition.
3.
Investment securities
Deposits with foreign banks
Gold
IMF special drawing rights
Loan to IMF
Other cash balances
2012
2,744,317,114
198,802,059
425,279,338
52,928,624
2,538,255
429,429
3,424,294,819
SHORT-TERM INVESTMENTS
These include temporary investments on mostly government securities, as follows:
51
2013
283,911,879
28,170,778
2012
227,924,612
22,193,126
381,808
121,959
4,181,912
152,915
5,281
5,486
1,160
643
1,160
412
(5,825)
312,587,683
5.
(5,825)
254,453,798
RECEIVABLES
This account consists of the following:
2013
169,005,695
94,891,206
94,628,416
29,913,775
12,116,017
1,153,273
923,990
523,491
378,055
368,889
92,396
33,438
31,682
4,499
4,092
3,664
2,234
1,336
977
481
65
6
249
(814,437)
403,263,489
2012
(As restated)
164,188,823
118,009,437
59,867,701
29,956,212
15,097,558
742,225
584,190
406,364
1,307,503
1,521,056
123,867
37,942
38,141
3,273
4,192
2,430
7,334
1,250
726
698
65
19,309
2,399
(786,093)
391,136,602
Loans and discounts/loans receivable are generally carried in the books at amortized
cost or at the amount at which the financial asset is measured at initial recognition
minus principal repayments, plus or minus the cumulative amortization, using the
effective interest method, of any difference between the initial amount and the maturity
amount, and minus any reduction (directly or through the use of an allowance account)
for impairment or uncollectibility.
6.
INVENTORIES
The breakdown of this account is as follows:
2013
1,628,241
3,208,189
2,494,738
52
2012
3,074,295
2,780,398
1,803,090
Currency inventory
Merchandise Inventory
Agricultural products and supplies inventory
Gold for domestic sale
Office supplies inventory
Construction materials inventory
Silver for refining
Contract in progress
Spare parts inventory
Other inventory
Allowance for obsolescence
7.
2013
882,136
135,646
86,217
16,597
20,560
12,279
3,316
3,804
3,776
1,028
(7,217)
8,489,310
2012
1,034,592
147,641
86,664
26,563
20,976
11,216
10,219
5,640
3,952
1332
9,006,578
2013
43,880
1,497
1,446
948
71
47,842
2012
112,592
1,456
1,446
65
31
115,590
2013
285,214
19,940
817,758
1,122,912
2012
285,214
18,672
582,434
886,320
Prepaid expenses
Prepaid rent
Deferred charges
Prepaid tax
Input tax
Others
8.
Property dividend to NG
Guaranty deposits
Others
9.
LONG-TERM RECEIVABLES
These are non-current receivables that are expected to be recovered or realized
beyond twelve months after the balance sheet date, broken down as follows:
53
2013
21,214,144
2,329,712
399,392
297,171
2012
(As restated)
36,461,670
2,289,606
490,735
477,652
47,465
81
(200,864)
24,087,101
10.
56,129
43,525
247
(210,118)
39,609,446
LONG-TERM INVESTMENTS
The details of this account are as follows:
11.
2013
123,493,575
46,679,408
2012
(As restated)
108,792,500
46,890,473
6,303,000
2,094,470
1,788,930
168,439
50,307
20,454
14,524
4,000
65
6,303,000
1,662,882
1,656,930
168,439
57
20,370
7,060
4,000
65
(297,000)
180,320,172
(37,614)
165,468,162
Construction
in progress
Furniture,
fixtures, and
office
equipment
Machineries
and
equipment
Transportatio
n Equipment/
Motor
Vehicle
Others
Total
Cost
Accumulated
depreciation/
Amortization
19,674,091
968,773
3,154,157
9,017,547
678,751
29,189
33,522,508
(5,873,104)
(2,166,935)
(4,763,950)
(545,793)
(7,717)
(13,357,499)
Net carrying
amount,
12/31/13
13,800,987
968,773
987,222
4,253,597
132,958
21,472
20,165,009
Net carrying
amount,12/31/12,
as restated
14,151,956
748,072
929,307
3,132,538
132,532
1,198
19,095,603
12.
INVESTMENT PROPERTY
This account pertains to real properties acquired by the government corporations and
subsidiaries in settlement of loans. The investment properties are recognized in the
books either at cost or fair value. Prior to the adoption of PFRS 1 which became
54
For corporations that adopted the fair value model, the investment properties are
initially measured at cost, including transaction costs. After initial recognition, it is
measured at fair value with any change therein recognized in the statement of profit or
loss and other comprehensive income for the period.
The following corporations recorded significant amount of investment properties in
2013 and 2012:
13.
2013
14,525,327
1,034,357
118,938
34,669
13,672
7,254
4,650
15,738,867
2012
10,429,445
567,302
112,673
74,249
13,672
2,314
4,650
11,204,305
2013
32,553,613
7,517,940
6,726,854
2,324,577
1,795,377
82,293
11,262
208
991,247
(2,262,780)
49,740,591
55
2012
(As restated)
64,562,905
14,144,372
6,973,859
2,286,770
1,295,674
95,595
208
935,522
(2,170,858)
88,124,047
14.
DEPOSIT LIABILITIES
These consist of current local and foreign deposits of the banks clients that earn
annual fixed interest rates.
The details of this account are as follows:
Special deposit
Deposits of banks and quasi banks local currency
Government deposits - local currency
Demand/savings/time deposit
Deposits of the IMF and other financial
institutions - local currency
Short-term deposits - foreign currency
15.
2013
1,367,547,319
2012
(As restated)
1,640,280,694
1,158,625,171
415,039,746
257,469,126
812,434,652
328,778,682
182,322,991
35,464,473
1,973,760
3,236,119,595
40,331,897
32,526,990
3,036,675,906
CURRENCY IN CIRCULATION
This represents liability recorded at face value, for Philippine currency notes and coins
issued by BSP, fully guaranteed by the government of the Republic of the Philippines,
in favor of the holder.
In accordance with Section 51 of Republic Act 7653 or the New Central Bank Act,
notes and coins issued by the BSP shall be liabilities of BSP and may be issued only
against, and in amounts not exceeding, the assets of the BSP. Said notes and coins
shall be a first and paramount lien on all assets of the BSP.
The BSPs holdings of its own notes and coins are not considered part of its currency
issue, and accordingly, do not form part of the assets and liabilities of the BSP.
Quantity
Denomination
Notes
100,000
2,000
1,000
500
200
100
50
20
10
5
Total notes in circulation
Coins
10 Piso
5 Piso
1 Piso
25 Sentimo
10 Sentimo
5 Sentimo
1 Sentimo
2013
2012
127
32,139
402,712,977
526,771,690
46,484,431
599,096,329
402,720,479
846,379,575
67,746,303
30,205,819
122
30,882
357,208,764
428,661,228
36,739,177
565,412,913
413,605,566
681,631,519
68,029,405
30,285,697
617,562,301
1,811,486,684
6,704,589,959
6,612,356,670
2,934,524,742
2,207,033,786
26,714,401
554,327,359
1,644,619,551
6,145,911,809
6,157,221,807
2,734,758,713
2,046,369,034
24,680,206
56
Amount
2013
2012
12,700
12,200
64,278
61,764
402,712,977
357,208,764
263,385,845
214,330,614
9,296,886
7,347,836
59,909,633
56,541,291
20,136,024
20,680,278
16,927,591
13,632,630
677,463
680,294
151,029
151,429
773,274,426
670,647,100
6,175,623
5,543,273
9,057,433
8,223,098
6,704,590
6,145,912
1,653,089
1,539,305
293,453
273,476
110,352
102,318
267
247
Quantity
Denomination
BSP commemorative
coins
Total coins in circulation
Total currency in circulation
16.
Amount
2013
2012
3,293,505
3,258,957
2013
23,994,807
2012
21,827,629
182,704
24,177,511
797,451,937
182,348
22,009,977
692,657,077
17.
18.
2013
6,246,071
1,270,259
485,700
321,602
104,808
5,816
8,434,256
2012
(As restated)
7,112,958
2,481,058
526,700
323,472
87,325
4,385
10,535,898
57
2013
2012
(As restated)
416,565,976
5,566,732
5,030,581
3,759,077
196,579
57,891
43,411
416,565,456
4,547,797
5,216,547
2,532,468
208,835
59,089
59,672
42,411
22,607
20,800
18,714
12,097
42,023
19,862
17,335
15,038
18,780
Inter-agency payables
Handling fee payable
Performance/bidders/bail bonds payable
Accounts payable - others
Deposit to other banks
Accounts payable - suppliers
Others
19.
2013
10,390
6,546
3,751
1,879
758
63
101,260
431,461,523
2012
(As restated)
5,704
4,383
4,059
1,352
209
11,735
78,657
429,409,001
BILLS PAYABLE
This represents domestic and foreign borrowings of the following corporations:
2013
58,904,426
2,079,000
594,968
61,578,394
2012
67,436,787
2,580,715
444,185
70,461,687
The balance includes foreign borrowings to multilateral and bilateral funding agencies
such as the World Bank, Asian Development Bank, Japan International Cooperation
Agency, ANZ Bank, Cobank Denver, and Kreditanstalt fur Wiederaufbau. Most of
these foreign borrowings are provided with foreign exchange (FX) risk cover by the
National Government.
Bills payable with maturities of one year or less are classified in this Report under the
Current portion of long-term debt account amounting to P1,509,378 and P1,122,700
as at December 31, 2013 and 2012, respectively.
20.
NOTES PAYABLE
This account which is recorded as Unsecured Subordinated Debt in the books of DBP
represent long-term domestic securities issued by the bank to increase and strengthen
its capital base with a balance of P15,621,134 and P12,134,826 as at December 31,
2013 and 2012, respectively.
21.
BONDS PAYABLE
This account includes foreign currency financial liabilities consisting of Yankee Bonds
issued by BSP on June 24, 1997, due 2027 and 2097, with balances of P22,198,052
and P20,537,695 as at December 31, 2013 and 2012, respectively. It also includes
DBPs issuance of 5.5 per cent US$300.00 million notes due on March 25, 2021
approved by the Monetary Board of Bangko Sentral ng Pilipinas amounting to
P13,263,295 and P12,258,359 as at December 31, 2013 and 2012, respectively.
58
22.
LOANS PAYABLE
2013
63,035,929
450,359
63,486,288
Loans payable-domestic
Loans payable-foreign
2012
(As restated)
63,476,295
489,123
63,965,418
The current portion of the Loans payable are classified in this Report under the Current
portion of long-term debt account amounting to P40,614,923 and
P35,131,183 as
at December 31, 2013 and 2012, respectively.
23.
24.
DEFERRED CREDITS
This account consists of the following:
25.
2013
182,810
211,902
75
394,787
2012
246,734
224,616
147
471,497
2013
2012
26.
57,304,045
52,909,772
5,041
57,309,086
634,857
3734
53,548,363
EQUITY
The composition and changes in this account consist of the following:
a) Government equity pertains to the National Governments share in IGLF.
b) Share capital has increase in CY 2012 as a result of an issuance of capital
stock of PPSBI and additional paid-in capital of CIC.
59
c) Restricted capital includes the Restricted Fund of PDIC and LCDFI in the
amount of P3,000,000,000 and P15,000,000, respectively.
d) The appraisal increment pertains to the LBRDCs revaluation increment in
property.
e) Surplus reserves include, among others, additional reserve for trust business of
DBP,
reserve
for
expansion/renovation
of
field
offices
and
upgrading/enhancement of telecommunications of LBP, net increment of BSPs
managed fund and additional estimated insurance losses of PDIC.
f)
INCOME
The income reported by government-owned and/or controlled corporations under the
Cluster is classified into three categories: business and service income, gains and
premiums and other income, details as follows:
a) Business and service income include among others, interest income from
foreign/local currency financial assets of BSP, DBP, and AAIBP totaling
P47,270,383; assessment, service, financing, guarantee and commitment fees,
rental/lease income and construction income, which are directly related to the
principal revenue-producing activities of the entities.
b) Gains and premiums include income from financial asset and liabilities held for
trading, sale/derecognition of securities/investment, dealings in foreign currency
and disposal of assets.
c) Other income includes interest on bank deposits, dividend and commission income
and other miscellaneous income which do not fall under business and service
income or gains and premiums.
d) Subsidy income represents subsidy from the National Government to CIC
amounting to P44,725 and P28,410 in 2013 and 2012, respectively; and PDICs
tax obligations charged to the Tax Expenditure Fund in accordance with Section 17
of PDIC Charter amounting to P3,410,855 and P3,210,066 in 2013 and 2012,
respectively.
60
Total income for calendar years 2013 and 2012 (exclusive of subsidy) amounted to
P102,426,624 and P102,626,521, respectively.
28.
EXPENSES
Expenses are classified into business expenses, personal services, maintenance and
other operating expenses, financial expenses, and other expenses, detailed as follows:
a) Business expenses include, among others, interest expense on local and foreign
currency financial liabilities of BSP of P66,776,194, interest expense on deposit
liabilities of DBP, PPSBI and AAIIBP totaling P2,320,216, and other business
expense consists of lending cost, construction cost, commission, property
development expenses, currency printing and minting cost; and insurance and
assistance financial losses such as deposit claims pay-out, rehabilitation cost and
receivership and liquidation expenses totaling P11,649,577.
b) Personal services consist of salaries and wages, personnel benefits contributions
to GSIS, HDMF, PHIC and ECC and employees terminal benefits, and other
benefits. The breakdown is presented below:
2013
11,164,731
2,238,564
759,400
14,162,695
2012
(As restated)
10,319,525
2,186,709
779,725
13,285,959
61
2012
(As restated)
6,808,874
698,475
481,100
355,368
286,679
865,124
707,390
407,798
367,456
318,368
227,550
191,944
202,163
209,070
172,970
164,894
160,157
126,865
94,084
253,319
144,818
144,904
144,412
85,740
78,815
66,417
17,829
3,679,463
74,542
18,337
14,786
10,586
7,382
5,898
4,811
4,211
3,217
3,167
1,844
2012
(As restated)
13,689
9,942
4,503
4,817
3,361
3,082
2,910
1,921
1,679
1,592
1,151
476
420
412
323
271
38
1,673
3,085
1,135
371
419
266
210
283
57
36
2,455,045
12,459,585
92
2,736,513
10,401,014
2013
Information technology
Impairment Loss
Advertising expenses
Directors' fees and allowances
Fuel, oil and lubricants
Amortization expense
Provident fund contribution
Management fees
Commission
Membership dues and contributions to
organizations
Transportation and delivery expenses
Business development expenses
Interest expense
Printing and binding expenses
Training and scholarship expenses
Meetings and conferences
Subscription expenses
Cultural and athletic expenses
Confidential, intelligence,
extraordinary and miscellaneous
Others
d) Financial expenses are those that are not directly related to the operations of the
entities such as interest expense on loans obtained, documentary stamp taxes,
bank charges, commitment fees and other financial charges.
2013
8,409,939
8,338
171
4,915
8,423,363
Interest expenses
Documentary stamps expenses
Bank charges
Others
2012
8,343,121
8,308
117
5,109
8,356,655
e) All other expenses that are not classified as personal services, maintenance and
other operating expenses and financial expenses are classified as other expenses
totaling P576,393. These expenses include, among others, loss on inventory
writedown, loss on palay shrinkage, and impairment loss totaling P553,427.
Total expenses for calendar years 2013 and 2012 (excluding income tax)
amounted to P116,368,023 and P190,039,333, respectively.
29.
62
The following corporations reported other comprehensive income/(loss) for the years
2013 and 2012, as shown below:
2013
1,169,639
509
(4,307,899)
(30,962)
(28,476)
(315)
(3,197,504)
30.
2012
(38,203)
256,111
7,463
(5,985)
3,917
223,303
31.
63
Authority. LIVECOR merged with National Livelihood Support Fund (NLSF) now
National Livelihood Development Corporation (NLDC) by virtue of Executive Order
(E.O.) Nos. 681 and 681A. NFC is attached for supervision, control and policy/program
coordination with the Department of Agriculture by virtue of E.O. No. 233.
64
Schedule 1
CORPORATE GOVERNMENT SECTOR
CLUSTER 1 - BANKING AND CREDIT
Summary Data of Agencies Under Cluster 1 - Banking and Credit
Agency Name
1 Bangko Sentral ng Pilipinas
Parent /
Abbreviation Controlling
Entity
BSP
CIC
BSP
RA No. 9510
PICCI
BSP
DBP
AAIIBP
DBP
DCI
DBP
DLC
DBP
DBPMC
DBP
CB-BOL
Enabling Law/Creation
BSP
Address
65
Agency Name
Parent /
Abbreviation Controlling
Entity
IGLF
DBP
LBP
Address
Enabling Law/Creation
RA 3844
LCDFI
LBP
LBRDC
LBP
LIBI
LBP
LLC
LBP
MSI
LBP
NFC
NLDC
SEC Registered
NLDC
LBP
PCFC
LBP
PDIC
RA No. 3591
PPSBI
PPC
66
CLUSTER 2 SOCIAL
SECURITY SERVICES
AND HOUSING
2013
FINANCIAL
STATEMENTS
Cluster 2
Summary Statement of Financial Position
December 31, 2013
(With corresponding figures for 2012)
In thousand pesos
Note
Assets
Current assets
Cash and cash equivalents
Short-term investments
Receivables (net)
Inventories
Prepayments and deferred charges
Others
Non-current assets
Long-term receivables (net)
Long-term investments (net)
Property, plant and equipment (net)
Investment property (net)
Others (net)
2012
(As restated)
3
4
5
6
7
59,098,590
488,360,326
384,399,696
11,174,251
438,786
374,918
943,846,567
66,836,917
430,000,070
346,479,392
6,609,235
329,533
503,792
850,758,939
8
9
10
11
12
323,562,809
297,236,248
17,718,721
69,479,646
26,407,978
734,405,402
309,832,469
286,437,050
20,120,058
63,934,828
27,144,379
707,468,784
1,678,251,969
1,558,227,723
13
14
15
32,295,545
13,361,575
39,724,498
85,381,618
42,376,744
10,604,973
27,084,738
80,066,455
16
17
18
50,901,206
36,546,409
12,101,964
1,513,477
6,646,472
107,709,528
41,670,149
36,534,369
12,070,860
1,515,056
500,000
5,212,412
97,502,846
193,091,146
177,569,301
1,485,160,823
1,380,658,422
1,678,251,969
1,558,227,723
Total assets
Liabilities and equity
Liabilities
Current liabilities
Trade and non-trade payables
Current portion of members' equity
Others
2013
Non-current liabilities
Loans and advances payable
Deferred credits
Bonds payable
Lease contracts payable
Accrued retirement benefits
Mortgage payable
Others
19
Total liabilities
Equity
20
69
Cluster 2
Statement of Financial Position
December 31, 2013
(With corresponding figures for 2012)
In thousand pesos
AFPRSBS
SUMSI
2012
Assets
Current assets
Cash and cash equivalents
Short-term investments
Receivables (net)
Inventories
Prepayments and deferred charges
Others
4,302,418
246,594
3,460,063
574,203
21,558
4,486,096
374,986
3,311,216
782,205
17,689
20,847
14,724
5,862
261
-
20,084
12,869
6,794
404
17
-
118,218,424
5,136,077
10,439,248
102,488,293
154,806
94,757,355
4,114,541
5,706,790
84,685,612
250,412
5,138,723
3,330,413
1,040,818
722,713
3,918
6,592
34,269
4,736,036
3,537,970
1,157,172
4,549
1,939
34,406
Non-current assets
Long-term receivables (net)
Long-term investments (net)
Property, plant and equipment (net)
Investment property (net)
Others (net)
10,710,790
591,501
9,607,227
36,838
2,870
472,354
9,853,869
607,616
8,745,827
30,568
188
469,670
5,976
5,934
42
6,385
6,343
42
226,455,646
181,638,284
31,105,230
1,195,170
11,707,133
809,829
219,778,537
183,691,357
23,698,893
1,110,981
10,392,686
884,620
30,877,786
26,640,859
1,611,550
281,258
2,344,119
30,782,762
26,395,707
1,611,550
291,684
2,483,821
Total assets
15,013,208
14,339,965
26,823
26,469
344,674,070
314,535,892
36,016,509
35,518,798
1,404,085
518,830
885,255
1,299,836
541,493
758,343
1,854
1,737
117
1,945
1,463
482
27,514,470
10,551,484
13,361,575
3,601,411
23,452,151
10,477,857
10,604,973
2,369,321
2,981,729
1,204,946
1,776,783
2,455,771
958,978
1,496,793
Non-current liabilities
Mortgage payable
Bonds payable
Loans and advances payable
Deferred credits
Accrued retirement benefits
Others
3,132,013
2,874,482
842
842
35,089,005
35,216,503
34,973,322
35,958,014
304,383
2,827,630
321,561
2,552,921
842
842
11,871,109
5,000,000
18,217,896
-
11,767,305
5,000,000
18,449,198
-
29,113,893
4,510,361
1,349,068
30,376,386
4,201,912
1,379,716
Total liabilities
4,536,098
4,174,318
2,696
2,787
62,603,475
58,668,654
37,955,051
38,413,785
Equity
10,477,110
10,165,647
24,127
23,682
282,070,595
255,867,238
(1,938,542)
(2,894,987)
15,013,208
14,339,965
26,823
26,469
344,674,070
314,535,892
36,016,509
35,518,798
70
2012
(As restated)
2013
NHMFC
2013
2013
HDMF
2012
2013
2012
(As restated)
Cluster 2
Statement of Financial Position
December 31, 2013
(With corresponding figures for 2012)
In thousand pesos
PDGCC
2013
SBC
2012
ECC
2013
2012
26,062
15,021
10,858
55
128
-
3,205,130
507,012
236,904
2,461,214
-
3,503,117
421,776
77,490
3,003,851
-
342,826
330,731
11,381
228
473
13
308,796
304,933
3,232
352
266
13
237,988
186,005
48,823
3,027
133
-
221,517
169,142
49,315
2,961
99
-
1,025
1,004
21
1,245
1,243
2
2,698,558
222,995
1,871,795
83,097
144,593
376,078
2,282,221
140,868
1,848,935
88,051
103,451
100,916
40,576
5,329
31,991
167
3,089
49,706
5,005
41,568
167
2,966
69,674
69,206
468
75,989
75,521
468
Total assets
39,498
27,307
5,903,688
5,785,338
383,402
358,502
307,662
297,506
17,337
17,337
6,509
6,509
1,372,825
1,354,390
18,435
1,133,107
1,114,957
18,150
6,998
1,651
5,347
8,339
3,074
5,265
31,482
14,917
16,565
39,924
22,646
17,278
2,128,230
2,190,814
32,494
26,450
2,080,131
48,099
2,162,414
28,400
11,469
21,025
10,728
15,722
Total liabilities
17,337
6,509
3,501,055
3,323,921
39,492
34,789
31,482
39,924
Equity
22,161
20,798
2,402,633
2,461,417
343,910
323,713
276,180
257,582
39,498
27,307
5,903,688
5,785,338
383,402
358,502
307,662
297,506
Assets
Current assets
Cash and cash equivalents
Short-term investments
Receivables (net)
Inventories
Prepayments and deferred charges
Others
38,473
30,467
7,838
38
128
2
Non-current assets
Long-term receivables (net)
Long-term investments (net)
Property, plant and equipment (net)
Investment property (net)
Others (net)
Non-current liabilities
Mortgage payable
Bonds payable
Loans and advances payable
Deferred credits
Accrued retirement benefits
Others
71
2013
OSHC
2012
2013
2012
Cluster 2
Statement of Financial Position
December 31, 2013
(With corresponding figures for 2012)
In thousand pesos
GSIS
2013
SSS
2012
(As restated)
2013
NHA
2012
2013
HGC
2012
2013
2012
(As restated)
Assets
Current assets
Cash and cash equivalents
Short-term investments
Receivables (net)
Inventories
Prepayments and deferred charges
Others
743,050,913
25,393,774
454,194,573
263,291,648
9,867
161,051
690,304,742
35,348,722
411,404,294
243,313,382
40,443
197,901
41,937,010
17,949,860
16,039,433
7,831,483
114,166
1,304
764
32,279,036
16,151,335
7,978,853
8,043,016
104,267
61
1,504
20,175,556
3,792,298
4,981,103
11,050,915
351,240
-
14,268,931
3,822,209
3,761,312
6,495,097
190,313
-
4,466,397
2,016,207
1,367,279
1,016,092
782
66,037
-
3,439,653
2,378,542
27,644
962,729
1,063
69,675
-
Non-current assets
Long-term receivables (net)
Long-term investments (net)
Property, plant and equipment (net)
Investment property (net)
Others (net)
44,994,704
10,772,036
32,431,860
1,790,808
43,263,147
10,671,990
31,026,078
1,565,079
342,696,268
73,569,003
243,978,177
3,061,203
17,062,746
5,025,139
330,526,019
65,742,056
241,470,973
3,207,866
14,222,593
5,882,531
46,347,821
34,846,234
7,614,037
2,010,674
1,876,876
40,795,050
26,756,730
7,619,992
4,410,172
2,008,156
29,021,031
5,763,814
1,447,946
90,180
8,043,696
13,675,395
29,287,423
5,992,502
1,440,594
100,077
8,045,544
13,708,706
788,045,617
733,567,889
384,633,278
362,805,055
66,523,377
55,063,981
33,487,428
32,727,076
25,452,562
11,843,841
13,608,721
15,920,924
10,973,781
4,947,143
11,036,502
4,045,891
6,990,611
9,484,199
3,520,977
5,963,222
6,973,117
296,289
6,676,828
6,867,468
584,486
6,282,982
6,061,011
87,209
5,973,802
16,828,982
11,768,511
5,060,471
6,445,046
4,250,115
2,194,931
5,954,245
4,910,596
1,043,649
1,876,388
374,380
1,502,008
-
1,898,818
394,490
1,504,328
-
4,353,954
337,991
3,811,086
204,877
5,118,383
500,000
337,991
4,089,230
191,162
19,660,318
230,855
14,369,191
5,060,272
-
8,260,808
303,555
3,793,358
4,163,895
-
31,897,608
21,875,169
12,912,890
11,383,017
11,327,071
11,985,851
25,721,329
25,089,790
Equity
756,148,009
711,692,720
371,720,388
351,422,038
55,196,306
43,078,130
7,766,099
7,637,286
788,045,617
733,567,889
384,633,278
362,805,055
66,523,377
55,063,981
33,487,428
32,727,076
Total assets
Liabilities and equity
Liabilities
Current liabilities
Trade and non-trade payables
Current portion of members' equity
Others
Non-current liabilities
Mortgage payable
Bonds payable
Loans and advances payable
Deferred credits
Accrued retirement benefits
Others
Total liabilities
72
Cluster 2
Statement of Financial Position
December 31, 2013
(With corresponding figures for 2012)
In thousand pesos
TIDCORP
2013
2012
(As restated)
Assets
Current assets
Cash and cash equivalents
Short-term investments
Receivables (net)
Inventories
Prepayments and deferred charges
Others
2,711,862
164,428
1,582,008
959,043
916
3,012
2,455
2,407,514
184,871
1,493,783
699,914
487
26,592
1,867
Non-current assets
Long-term receivables (net)
Long-term investments (net)
Property, plant and equipment (net)
Investment property (net)
Others (net)
485,547
284,790
286
80,130
86,581
33,760
766,431
500,628
286
83,994
144,121
37,402
Total assets
3,197,409
3,173,945
2,527,646
2,374,360
153,286
2,567,300
2,408,521
158,779
17,916
17,916
-
3,487
3,487
-
2,545,562
2,570,787
651,847
603,158
3,197,409
3,173,945
Non-current liabilities
Mortgage payable
Bonds payable
Loans and advances payable
Deferred credits
Accrued retirement benefits
Others
Total liabilities
Equity
TOTAL LIABILITIES AND EQUITY
73
Cluster 2
Summary Statement of Comprehensive Income
Year ended December 31, 2013
(With corresponding figures for 2012)
(In thousand pesos)
TOTAL
Note
Income
21
22
Business expenses
Personal services
Maintenance and other operating expenses
Financial expenses
Others
Net income before subsidy
Subsidy income
23
24
74
2013
2012
(As restated)
311,206,894
304,214,121
296,218,131
7,112,269
7,876,494
297,496,411
797,602
5,920,108
212,536,851
193,455,847
186,739,815
11,802,425
10,321,053
2,262,875
1,410,683
159,349,128
11,767,474
11,674,518
2,560,268
8,104,459
98,670,043
110,758,274
13,927,987
5,733,471
112,598,030
116,491,745
133,747
93,812
112,464,283
116,397,933
(21,939,578)
30,975,765
90,524,705
147,373,698
Cluster 2
Statement of Comprehensive Income
Year ended December 31, 2013
(With corresponding figures for 2012)
(In thousand pesos)
AFPRSBS
2013
Income
Business and service income
Gains and premiums
Others
Expenses
Business expenses
Personal services
Maintenance and other operating expenses
Financial expenses
Others
Net income (loss) before subsidy
Subsidy income
Net income (loss) before tax
Income tax expense
Net income (loss) after tax
Other comprehensive income
Total comprehensive income (loss)
SUMSI
2012
2013
HDMF
2012
(As restated)
2013
NHMFC
2012
2013
2012
(As restated)
250,580
272,773
19,864
20,290
29,445,740
25,252,886
1,035,547
4,459,397
250,580
-
272,773
-
19,636
228
19,822
468
25,847,150
537,447
3,061,143
22,730,566
159,138
2,363,182
749,912
285,635
3,840,126
45,742
573,529
107,748
123,531
19,112
18,792
15,008,836
12,002,035
952,331
4,174,109
59,924
47,824
-
57,515
66,016
-
11,767
3,846
3,499
-
11,776
3,564
3,452
-
9,630,654
1,655,513
2,778,373
944,296
7,093,791
1,605,269
2,039,293
1,014,534
319,127
405,205
227,999
305,427
3,477,917
390,765
142,832
142,832
142,832
142,832
149,242
149,242
149,242
149,242
752
-
1,498
-
752
1,498
173
361
579
1,137
579
75
1,137
14,436,904
14,436,904
14,436,904
14,436,904
249,148
13,250,851
13,250,851
13,250,851
5,038
13,255,889
83,216
285,288
1,011,301
500,000
1,094,517
785,288
27,266
46,441
1,067,251
738,847
1,067,251
738,847
Cluster 2
Statement of Comprehensive Income
Year ended December 31, 2013
(With corresponding figures for 2012)
(In thousand pesos)
PDGCC
2013
Income
Business and service income
Gains and premiums
Others
Expenses
Business expenses
Personal services
Maintenance and other operating expenses
Financial expenses
Others
Net income (loss) before subsidy
Subsidy income
Net income (loss) before tax
Income tax expense
Net income (loss) after tax
Other comprehensive income
Total comprehensive income (loss)
SBC
2012
2013
2012
13,576
11,546
13,576
-
11,546
-
12,231
11,411
1,893
10,338
-
1,766
9,645
-
1,345
1,345
1,345
1,345
135
135
2012
2013
2012
100,498
93,224
12,601
12,370
347,380
660
13,955
96,705
3,793
86,508
6,716
9,970
2,631
8,743
3,627
297,074
80,879
74,620
101,700
99,093
111,406
111,879
73,789
40,842
40,037
-
37,662
36,958
-
48,523
53,171
6
46,751
52,335
7
64,921
19,619
18,604
(89,099)
(86,723)
105,256
121,607
64,921
19,619
18,604
16,157
34,884
(4,307)
(3,758)
4,307
68,679
19,619
18,604
16,157
34,884
(89,652)
4,307
(20,973)
19,619
18,604
16,157
34,884
0
-
135
-
2013
OSHC
361,995
135
-
ECC
76
Cluster 2
Statement of Comprehensive Income
Year ended December 31, 2013
(With corresponding figures for 2012)
(In thousand pesos)
GSIS
2013
SSS
2012
2013
NHA
2012
2013
HGC
2012
2013
2012
(As restated)
Income
Business and service income
Gains and premiums
Others
Expenses
Business expenses
Personal services
Maintenance and other operating expenses
Financial expenses
Others
Net income (loss) before subsidy
Subsidy income
Net income (loss) before tax
Income tax expense
(As restated)
139,172,764
140,693,191
137,874,258
130,473,648
1,528,899
1,229,392
831,850
131,561,158
6,434,352
1,177,254
138,044,750
583,735
2,064,706
134,651,669
3,222,589
129,781,879
691,769
1,511,865
17,034
1,168,092
61,300
813,289
13,582
4,979
90,811,640
78,074,037
100,276,624
94,317,921
3,319,637
2,581,536
1,179,902
85,696,646
3,369,073
1,654,760
-
68,070,718
3,232,686
1,527,878
-
91,400,748
5,233,280
2,355,754
-
84,172,843
5,326,608
2,313,640
-
734,399
2,577,696
7,542
817,716
1,762,641
1,179
109,763
175,173
864,518
91,161
5,242,755
1,286,842
2,504,830
30,448
48,361,124
62,619,154
37,597,634
36,155,727
(348,052)
759,572
38,357,206
48,361,124
-
62,619,154
-
48,361,124
62,619,154
38,357,206
(3,865,093)
30,689,231
(17,978,880)
44,496,031
93,308,385
20,378,326
77
(1,790,738)
(1,352,144)
45,280
12,051,858
5,066,584
36,201,007
10,261,120
3,714,440
36,201,007
326,965
36,527,972
10,261,120
10,261,120
3,714,440
3,714,440
(348,052)
25,557
30,470
(373,609)
(30,470)
2,421
(371,188)
297
(30,173)
Cluster 2
Statement of Comprehensive Income
Year ended December 31, 2013
(With corresponding figures for 2012)
(In thousand pesos)
TIDCORP
2013
2012
(As restated)
Income
Business and service income
Gains and premiums
Others
Expenses
Business expenses
Personal services
Maintenance and other operating expenses
Financial expenses
Others
Net income (loss) before subsidy
Subsidy income
Net income (loss) before tax
580,218
552,815
367,203
126,888
86,127
367,674
54,069
131,072
221,499
322,724
111,280
108,198
113,858
98,201
107,937
2,021
2,728
358,719
230,091
358,719
230,091
85,058
20,298
273,661
209,793
(18,196)
255,465
209,793
78
Cluster 2
Summary Statement of Changes in Equity
Period Ended December 31, 2013
(with corresponding figures for 2012)
(in thousand pesos)
TOTAL
2013
2012
(As restated)
Government equity
Balance at beginning of period
Additions/deductions
Balance at end of period
308,195
308,195
308,195
308,195
Share capital
Balance at beginning of period
Additions/deductions
Balance at end of period
28,677,555
530,673
29,208,228
28,177,555
500,000
28,677,555
Miscellaneous Capital
Balance at beginning of period
Additions/deductions
Balance at end of period
3,475,061
187,831
3,662,892
9,637,578
(6,162,517)
3,475,061
Appraisal Capital
Balance at beginning of period
Additions/Deductions
Balance at end of period
6,127,219
50,297
6,177,516
6,127,219
6,127,219
Appraisal increment
Balance at beginning of period
Additions/deductions
Balance at end of period
10,682,345
9,995
10,692,340
4,339,167
6,343,178
10,682,345
Members' equity
Balance at beginning of period
Additions/deductions
Balance at end of period
228,304,889
21,377,912
249,682,801
215,183,559
13,121,330
228,304,889
90,835,155
(21,913,628)
68,921,527
66,159,090
24,676,065
90,835,155
4,465,902
4,465,902
1,640,231
2,825,671
4,465,902
Donated capital
Balance at beginning of period
Additions/deductions
Balance at end of period
79
Cluster 2
Summary Statement of Changes in Equity
Period Ended December 31, 2013
(with corresponding figures for 2012)
(in thousand pesos)
TOTAL
2012
(As restated)
2013
Surplus reserve
Balance at beginning of period
Additions/deductions
Balance at end of period
603,829,826
58,144,773
661,974,599
543,340,150
60,489,676
603,829,826
Retained earnings
Balance at beginning of period
Additions/deductions
Balance at end of period
403,947,953
46,115,290
450,063,243
360,521,712
43,426,241
403,947,953
4,322
(742)
3,580
TOTAL EQUITY
1,485,160,823
80
4,664
(342)
4,322
1,380,658,422
Cluster 2
Summary Statement of Changes in Equity
Period Ended December 31, 2013
(with corresponding figures for 2012)
(in thousand pesos)
AFPRSBS
2013
Government equity
Balance at beginning of period
Additions/deductions
Balance at end of period
SUMSI
2012
200,000
200,000
2013
200,000
200,000
HDMF
2012
(As restated)
2013
NHMFC
2012
2013
2012
(As restated)
108,195
108,195
108,195
108,195
4,270,510
4,270,510
4,270,510
4,270,510
Share capital
Balance at beginning of period
Additions/deductions
Balance at end of period
10,000
10,000
10,000
10,000
Miscellaneous Capital
Balance at beginning of period
Additions/deductions
Balance at end of period
Appraisal Capital
Balance at beginning of period
Additions/Deductions
Balance at end of period
Appraisal increment
Balance at beginning of period
Additions/deductions
Balance at end of period
219,798,281
20,614,633
240,412,914
207,682,571
12,115,710
219,798,281
Members' equity
Balance at beginning of period
Additions/deductions
Balance at end of period
8,158,623
701,511
8,860,134
7,483,090
675,533
8,158,623
5,038
5,038
5,038
5,038
Donated capital
Balance at beginning of period
Additions/deductions
Balance at end of period
251
251
251
251
81
Cluster 2
Summary Statement of Changes in Equity
Period Ended December 31, 2013
(with corresponding figures for 2012)
(in thousand pesos)
AFPRSBS
2013
Surplus reserve
Balance at beginning of period
Additions/deductions
Balance at end of period
Retained earnings
Balance at beginning of period
Additions/deductions
Balance at end of period
Other (Non controlling interest
in the net assets)
Balance at beginning of period
Additions/deductions
Balance at end of period
TOTAL EQUITY
SUMSI
2012
1,807,024
(390,048)
1,416,976
10,477,110
2013
1,999,547
(192,523)
1,807,024
10,165,647
HDMF
2012
(As restated)
13,682
445
14,127
24,127
82
2013
NHMFC
2012
2013
2012
(As restated)
163,411
430
163,841
161,579
1,832
163,411
13,145
537
13,682
35,900,257
5,588,294
41,488,551
33,281,325
2,618,932
35,900,257
(7,273,692)
956,445
(6,317,247)
(8,290,104)
1,016,412
(7,273,692)
23,682
282,070,595
255,867,238
(1,938,542)
(2,894,987)
Cluster 2
Summary Statement of Changes in Equity
Period Ended December 31, 2013
(with corresponding figures for 2012)
(in thousand pesos)
PDGCC
2013
SBC
2012
2013
ECC
2012
Government equity
Balance at beginning of period
Additions/deductions
Balance at end of period
Share capital
Balance at beginning of period
Additions/deductions
Balance at end of period
Miscellaneous Capital
Balance at beginning of period
Additions/deductions
Balance at end of period
Appraisal Capital
Balance at beginning of period
Additions/Deductions
Balance at end of period
Appraisal increment
Balance at beginning of period
Additions/deductions
Balance at end of period
Members' equity
Balance at beginning of period
Additions/deductions
Balance at end of period
2013
2012
2013
2012
17,898
17,898
17,898
17,898
Donated capital
Balance at beginning of period
Additions/deductions
Balance at end of period
1,968,739
30,673
1,999,412
83
OSHC
1,968,739
1,968,739
249,042
249,042
249,042
249,042
Cluster 2
Summary Statement of Changes in Equity
Period Ended December 31, 2013
(with corresponding figures for 2012)
(in thousand pesos)
PDGCC
2013
SBC
2012
2013
Government equity
Surplus reserve
Balance at beginning of period
Additions/deductions
Balance at end of period
Retained earnings
Balance at beginning of period
Additions/deductions
Balance at end of period
2,900
1,363
4,263
2,636
264
2,900
22,161
20,798
2012
492,678
(89,457)
403,221
2,402,633
84
ECC
2013
511,821
(19,143)
492,678
2,461,417
OSHC
2012
1,271
1,271
1,271
1,271
322,442
20,197
342,639
343,910
2013
2012
303,838
18,604
322,442
8,540
18,598
27,138
(27,847)
36,387
8,540
323,713
276,180
257,582
Cluster 2
Summary Statement of Changes in Equity
Period Ended December 31, 2013
(with corresponding figures for 2012)
(in thousand pesos)
GSIS
2013
Government equity
Balance at beginning of period
Additions/deductions
Balance at end of period
SSS
2012
(As restated)
2013
NHA
2012
2013
HGC
2012
Share capital
Balance at beginning of period
Additions/deductions
Balance at end of period
2,893,407
2,893,407
2,893,407
2,893,407
Miscellaneous Capital
Balance at beginning of period
Additions/deductions
Balance at end of period
3,475,061
187,831
3,662,892
9,637,578
(6,162,517)
3,475,061
Appraisal Capital
Balance at beginning of period
Additions/Deductions
Balance at end of period
6,127,219
50,297
6,177,516
6,127,219
6,127,219
Members' equity
Balance at beginning of period
Additions/deductions
Balance at end of period
Net unrealized gain/loss on AFS
Balance at beginning of period
Additions/deductions
Balance at end of period
Donated capital
Balance at beginning of period
Additions/deductions
Balance at end of period
6,511,277
9,995
6,521,272
63,179,561
(3,875,088)
59,304,473
-
426,201
6,085,076
6,511,277
38,575,406
24,604,155
63,179,561
-
2012
(As restated)
Appraisal increment
Balance at beginning of period
Additions/deductions
Balance at end of period
2013
14,073,000
500,000
14,573,000
13,573,000
500,000
14,073,000
1,763,626
1,763,626
1,505,524
258,102
1,763,626
330,087
61,768
391,855
330,087
330,087
27,536,562
68,863
27,605,425
1,245
2,422
3,667
15,419
(14,174)
1,245
27,605,425
(17,978,880)
9,626,545
11,392
11,392
85
11,392
11,392
136,062
136,062
136,062
136,062
2,407,442
2,407,442
4,069,155
4,069,155
2,407,442
2,407,442
1,379,546
2,689,609
4,069,155
Cluster 2
Summary Statement of Changes in Equity
Period Ended December 31, 2013
(with corresponding figures for 2012)
(in thousand pesos)
GSIS
2013
Government equity
Surplus reserve
Balance at beginning of period
Additions/deductions
Balance at end of period
603,665,144
58,144,343
661,809,487
SSS
2012
(As restated)
2013
543,177,300
60,487,844
603,665,144
NHA
2012
2013
HGC
2012
2013
2012
(As restated)
Retained earnings
Balance at beginning of period
Additions/deductions
Balance at end of period
38,332,416
(9,823,219)
28,509,197
36,232,198
2,100,218
38,332,416
321,711,508
38,215,462
359,926,970
285,619,354
36,092,154
321,711,508
30,446,381
11,880,048
42,326,429
28,243,227
2,203,154
30,446,381
(12,913,556)
(373,609)
(13,287,165)
(12,350,458)
(563,098)
(12,913,556)
4,322
(742)
3,580
756,148,009
4,664
(342)
4,322
711,692,720
371,720,388
351,422,038
55,196,306
43,078,130
7,766,099
7,637,286
86
Cluster 2
Summary Statement of Changes in Equity
Period Ended December 31, 2013
(with corresponding figures for 2012)
(in thousand pesos)
TIDCORP
2013
Government equity
Balance at beginning of period
Additions/deductions
Balance at end of period
Share capital
Balance at beginning of period
Additions/deductions
Balance at end of period
2012
(As restated)
-
5,461,899
5,461,899
5,461,899
5,461,899
Miscellaneous Capital
Balance at beginning of period
Additions/deductions
Balance at end of period
Appraisal Capital
Balance at beginning of period
Additions/Deductions
Balance at end of period
Appraisal increment
Balance at beginning of period
Additions/deductions
Balance at end of period
Members' equity
Balance at beginning of period
Additions/deductions
Balance at end of period
43,886
(62,082)
(18,196)
31,703
12,183
43,886
Donated capital
Balance at beginning of period
Additions/deductions
Balance at end of period
87
Cluster 2
Summary Statement of Changes in Equity
Period Ended December 31, 2013
(with corresponding figures for 2012)
(in thousand pesos)
TIDCORP
2013
Government equity
Surplus reserve
Balance at beginning of period
Additions/deductions
Balance at end of period
Retained earnings
Balance at beginning of period
Additions/deductions
Balance at end of period
Other (Non controlling interest
in the net assets)
Balance at beginning of period
Additions/deductions
Balance at end of period
TOTAL EQUITY
2012
(As restated)
(4,902,627)
110,771
(4,791,856)
651,847
(5,016,970)
114,343
(4,902,627)
603,158
88
Cluster 2
Summary Statement of Cash Flows
For the Year Ended December 31, 2013
(With corresponding figures for 2012)
(In thousand pesos)
Total
Note
2013
2012
409,205,899
(383,310,704)
25,895,195
497,372,187
(462,122,373)
35,249,814
52,660,577
(106,047,700)
(53,387,123)
57,194,210
(111,651,815)
(54,457,605)
29,894,253
(10,144,461)
19,749,792
27,114,048
(16,085,120)
11,028,928
(7,742,136)
(8,178,863)
3,809
66,836,917
(8,745)
75,024,525
59,098,590
66,836,917
89
Cluster 2
Statement of Cash Flows
For the Year Ended December 31, 2013
(With corresponding figures for 2012)
(In thousand pesos)
AFPRSBS
SUMSI
2013
HDMF
2012
2013
NHMFC
2013
2012
2012
556,598
(908,933)
(352,335)
(27,318)
(845,069)
(872,387)
3,648
(590)
3,058
1,062
(169)
893
69,227
(948,415)
(879,188)
44,979
104,512
149,491
(1,203)
(1,203)
(1,198)
(1,198)
6,233,383
(15,845,618)
(9,612,235)
6,746,827
(9,566,503)
(2,819,676)
1,683,597
(580,466)
1,103,131
1,426,286
(496,207)
930,079
15
(600)
(585)
26,705,029
(6,815,374)
19,889,655
24,308,040
(12,833,843)
11,474,197
(128,392)
207,183
1,855
(890)
1,017,900
(4,949,856)
3,635
(8,379)
2013
2012
162,800,800
270,716,350
(172,060,320) (284,320,727)
(9,259,520) (13,604,377)
5,560,200
(4,174,535)
1,385,665
5,939,093
(4,792,309)
1,146,784
1,018,371
(2,611,593)
(1,593,222)
632,721
(1,275,638)
(642,917)
(207,557)
503,867
374,986
167,803
12,869
13,759
4,114,542
9,072,776
3,537,970
3,034,103
246,594
374,986
14,724
12,869
5,136,077
4,114,541
3,330,413
3,537,970
90
Cluster 2
Statement of Cash Flows
For the Year Ended December 31, 2013
(With corresponding figures for 2012)
(In thousand pesos)
PDGCC
2013
SBC
2012
2013
ECC
2012
2013
OSHC
2012
2013
2012
88,198
(72,744)
15,454
76,058
(81,223)
(5,165)
3,414,624
(3,104,111)
310,513
3,631,112
(3,680,752)
(49,640)
94,492
(70,560)
23,932
110,509
(61,742)
48,767
128,911
(111,204)
17,707
102,023
(102,863)
(840)
(457)
(457)
69,340
(391,042)
(321,702)
83,269
(134,887)
(51,618)
3,781
(1,915)
1,866
6,672
(7,522)
(850)
1,505
(2,349)
(844)
3,113
(9,757)
(6,644)
(7)
(7)
472,589
(376,164)
96,425
319,037
(347,511)
(28,474)
15,447
(5,622)
85,236
(129,732)
25,798
47,917
16,863
(7,484)
15,020
20,643
421,776
551,508
304,933
257,016
169,142
176,626
30,467
15,021
507,012
421,776
330,731
304,933
186,005
169,142
91
Cluster 2
Statement of Cash Flows
For the Year Ended December 31, 2013
(With corresponding figures for 2012)
(In thousand pesos)
GSIS
2013
SSS
2012
2013
NHA
2012
2013
HGC
2012
2013
2012
91,959,331
(87,353,082)
4,606,249
87,891,657
(69,366,231)
18,525,426
127,270,879
(100,544,248)
26,726,631
119,145,481
(90,238,399)
28,907,082
15,515,437
(13,915,113)
1,600,324
7,980,659
(7,755,153)
225,506
1,263,239
(506,935)
756,304
1,219,304
(480,458)
738,846
44,397,709
(58,958,906)
(14,561,197)
49,603,449
(72,900,421)
(23,296,972)
(24,848,129)
(24,848,129)
(27,933,950)
(27,933,950)
331
(186,717)
(186,386)
1,118
(222,937)
(221,819)
781,835
(2,083,087)
(1,301,252)
71,640
(44,457)
27,183
80,915
(160,892)
(79,977)
58,327
(141,389)
(83,062)
(1,443,849)
(1,443,849)
(20,682)
(20,682)
502,123
(319,674)
182,449
502,343
(1,396,116)
(893,773)
(29,911)
(16,995)
(362,499)
(127,744)
(9,954,948)
(4,771,546)
1,798,525
890,070
164
(136)
35,348,722
40,120,268
16,151,335
15,261,265
3,822,209
3,839,204
2,378,542
2,506,422
25,393,774
35,348,722
17,949,860
16,151,335
3,792,298
3,822,209
2,016,207
2,378,542
92
Cluster 2
Statement of Cash Flows
For the Year Ended December 31, 2013
(With corresponding figures for 2012)
(In thousand pesos)
TIDCORP
2013
2012
549,542
(488,329)
61,213
586,197
(397,278)
188,919
85,095
(168,719)
(83,624)
422
341,400
341,822
450,000
(448,042)
1,958
500,000
(848,772)
(348,772)
(20,453)
181,969
10
184,871
3,132
164,428
184,871
(230)
93
1.
GENERAL INFORMATION
COA Resolution No. 2014-015 dated May 7, 2014 provided for the 2014 COA
Organizational Structure. This resolution includes, among others, the restructuring of
the Corporate Government Sector (CGS) creating four (4) clusters per COA Resolution
No. 2012-016 dated December 7, 2012. However, to pave the way for a seamless
implementation of the unified and package audits of agencies in the Central and
Regional Offices and to attain the integrated audit actions for more efficient and
effective delivery of audit services, the four (4) clusters were increased to six (6) as
provided under COA Resolution No. 2012-019 dated December 20, 2012. The Cluster
2 - Social Security Services and Housing is one of the six (6), clusters which has the
following government- owned or controlled corporations (GOCCs) under its audit
jurisdiction:
1.
2.
3.
4.
5.
6.
7.
8.
9.
10.
11.
12.
13.
14.
15.
Six of the 15 GOCCs are stand alone agencies operating only at the National Capital
Region, namely; AFPRSBS, GFB, HGC, PDGCC, TIDCORP and SUMSI while the rest
have branches, extension or project offices, satellite/desk offices and
receiving/information centers in the regions. Details on the complete list identifying the
parent and its subsidiaries as well as information on the complete address and the
enabling law creating the GOCCs are detailed in Schedule 1 of this Report.
The functions of the GOCCs included in this Report are discussed in details in Annex
4.
2.
94
The financial statements of nine Corporations, namely; AFPRSBS, ECC, GSIS, GFB,
HDMF, HGC, SBC, SSS and TIDCORP included in this Report have been prepared in
accordance with accounting principles generally accepted in the Philippines as set forth
in the Philippine Financial Reporting Standards (PFRS) while the remaining six,
namely; NHA, PDGCC, NHMFC, SHFC, SUMSI and OSHC were prepared in
accordance with the generally accepted accounting principles (GAAP). Five agencies
adopted the account titles and codes as prescribed in the New Government Accounting
System (NGAS), namely; NHMFC, SHFC, SUMSI, ECC and OSHC.
The relevant new and revised PFRS and other specific accounting policies adopted
by the Corporations included in this Report and the standards, amendments and
interpretations which became effective early or for annual periods beginning on or after
January 1, 2013 are discussed extensively in the individual Notes to Financial
Statements of every AAR.
Consolidated Annual Audit Report
The Annual Audit Reports of GSIS and NHMFC for CY 2013 included consolidated
financial data from its subsidiary, GFB and SHFC, respectively.
The reports on the Abot-Kaya Pabahay Fund under the trusteeship of the NHMFC,
SHFC and HGC pursuant to RA No. 6846 (as amended by RA 7835) and EO No. 272
are prepared separately but are likewise consolidated with the trustees as follows:
Currency of presentation
Unless otherwise stated, all amounts presented in this report are expressed in
Philippine pesos, rounded off to the nearest thousands (P000).
Accrual Basis of Accounting
In accordance with Philippine Accounting Standard (PAS) 1, the financial statements,
except for cash flow information, have been prepared using the accrual basis of
accounting.
Significant accounting judgments and estimates
In accordance with PFRS and old GAAP, the preparation of the financial statements
requires the use of certain critical accounting estimates and assumptions that affect the
reported amount of assets, liabilities, income and expenses and disclosure of
contingent assets and contingent liabilities. It also requires management to exercise its
judgment in applying the Corporations accounting policies. Future events may occur
which will cause the assumptions used in arriving at the estimates to change. The
effects of any change in estimates are reflected in the financial statements as they
become reasonably determinable.
Financial assets
95
Financial assets are classified in the following major categories: financial assets at fair
value through profit or loss, held to maturity investments, available-for-sale financial
assets and loans and receivables. At initial recognition, the agencies classify the
financial assets based on the purpose for which they are acquired and re-evaluate the
designation at every reporting date. Financial assets are derecognized when the rights
to receive cash flows from the asset have expired or has transferred its rights to
receive cash flows from the asset and either has transferred substantially all the risks
and rewards of the asset, or has neither transferred nor retained the risk and rewards
of the asset but has transferred the control of the asset.
Financial liabilities
Financial liabilities are recognized when the Corporation becomes a party to the
contractual agreements of the instrument. All interest and related charges are
recognized as an expense in the statement of comprehensive income. Financial
liabilities are derecognized from the statement of financial position only when the
obligations are extinguished either through discharge, cancellation or expiration.
Financial assets and liabilities are classified in the financial statements at the
appropriate assets and liabilities accounts.
Impairment of financial assets
The Corporation assesses at each balance sheet date whether there is objective
evidence that a financial asset or group of financial assets is impaired. A financial
asset or a group of financial assets is impaired and impairment losses are incurred if,
and only if, there is objective evidence of impairment as a result of one or more events
that occurred after the initial recognition of the asset (a loss event) and that loss event
has an impact on the estimated future cash flows of the financial asset or group of
financial assets that can be reliably estimated.
If there is objective evidence that an impairment loss on loans and receivables carried
at amortized cost has been incurred, the amount of the loss is measured as the
difference between the assets carrying amount and the present value of the estimated
future cash flows discounted at the financial assets original effective interest rate. The
carrying amount of the asset is reduced through the use of an allowance account, and
the amount of the loss is recognized in the income statement.
If, in a subsequent period, the amount of the impairment loss decreases and the
decrease can be related objectively to an event occurring after the impairment was
recognized, the previously recognized impairment loss is reversed by adjusting the
allowance account. However, the carrying amount after the reversal of the impairment
loss should not exceed the carrying amount of the loan account had there been no
impairment loss recognized. The amount reversed is recognized in the income
statement.
When an indicator of impairment of property and equipment, investment property and
other resources exists, the Corporations make a formal estimate of the recoverable
amount. Where the carrying amount of an asset exceeds its recoverable amount, the
asset is considered impaired and is written down to its recoverable amount.
Recoverable amount is the higher of an assets or cash-generating units fair value less
costs to sell and its value in use and is determined for an individual asset, unless the
96
asset does not generate cash inflows that are largely independent of those from other
assets or group of assets.
97
measured.
incurred.
2012
38,030,826
21,067,764
34,376,511
32,460,406
59,098,590
66,836,917
Cash in banks earn interest at the respective bank deposit rates. Cash equivalents
consist of money market placements, special savings, time deposits and other fixed
income securities with maturities of three months or less from date of acquisition and
which earn interest at the respective short-term deposit rates. .High yield short term
placements (HYSTPs) and special savings deposits (SSDs) are made for varying
periods of up to 90 days depending on the immediate cash requirements of and earn
interest at the prevailing HYSTP and SSD rates.
4. SHORT-TERM INVESTMENTS
This account includes the following:
2013
Securities available for sale
Securities held for trading
Securities held to maturity
Marketable securities
Investments in bonds & other debt instruments
455,776,581
15,801,010
11,955,393
3,460,063
1,367,279
488,360,326
2012
412,898,077
8,344,577
5,418,556
3,311,216
27,644
430,000,070
The financial assets available for sale includes the securities of GSIS and TIDCORP
amounting to P454.195 billion and P1.582 billion, respectively while the financial
assets held for trading account includes securities of HDMF, SSS and NHMFC
amounting to P10.439 billion, P4.321 and P1.041 billion, respectively.
98
The increase of held to maturity investments of P6.536 billion was mainly due to
investments placed by SSS and SBC amounting to P6.377 and P0.159 billion,
respectively.
5. RECEIVABLES
This account consists of the following:
2013
284,112,964
48,155,283
40,681,071
22,805,562
21,397,520
9,521,170
9,023,160
5,410,074
2,424,320
920,270
809,996
257,739
226,540
174,438
117,129
70,538
17,343
8,012
6,755
3,096,400
449,236,284
(64,836,588)
384,399,696
Loans receivable
Mortgage contracts receivable
Premiums receivable
Interest receivable
Sales contracts receivable
Accounts receivable
Due from reinsurer
Due from other banks/collecting banks
Rent receivable
Due from LGUs
Due from GOCCs
Notes receivable
Due from other funds
Due from NGAs
Receivables disallowances/charges
Dividend receivable
Due from officers and employees
Advances to officers and employees
Advances to contractors/affiliates
Other receivables
Allowance for doubtful accounts
2012
274,510,327
31,562,849
39,428,914
20,703,383
16,661,064
8,809,282
2,272,390
5,716,292
2,387,519
130,350
912,511
457,738
184,440
223,881
117,006
53,867
20,788
6,404
23,378
3,385,204
407,567,587
(61,088,195)
346,479,392
Loans receivable are generally carried in the books at amortized cost or at the amount
at which the financial asset is measured at initial recognition minus principal
repayments, plus or minus the cumulative amortization, using the effective interest
method, of any difference between the initial amount and the maturity amount, and
minus any reduction (directly or through the use of an allowance account) for
impairment or uncollectibility.
Loans receivable represents loans granted to members, government agencies and
private entities by GSIS, HDMF, NHA, SSS NHMFC, SBC and AFPRSBS.
Mortgage contract receivable represents loans that are backed-up by real estate
mortgages (REM) under various home lending programs mainly of the HDMF. The
increase of P16.592 billion or 53 per cent was caused mostly by the loans granted by
99
HDMF which amounted to P48.034 billion and P31.553 billion for the calendar years
(CYs) 2013 and 2012, respectively .
Premium receivable represents receivable arising from unremitted members
contribution and other premiums already due but not yet collected by the GSIS.
Sales contracts receivable pertains to high yielding receivables purchased from various
developers intended to provide them with liquidity mechanism. The purchase is with
recourse, substitution, buy back feature and a cash flow guarantee that ensures full
remittance of the monthly interest and principal. This account represents mostly loans
to Pag-IBIG members that are secured by Contract to Sell.
6. INVENTORIES
The breakdown of this account is as follows:
2013
7,345,323
3,698,695
128,939
261
150
38
845
11,174,251
Merchandise inventory
Construction in progress
Office supplies inventory
Materials inventory
Drugs and medicines inventory
Accountable forms inventory
Other inventory
2012
5,096,614
1,391,583
119,106
404
154
55
1,319
6,609,235
Merchandise Inventory account represents the cost of completed projects available for
disposition/sale and properties acquired from beneficiaries who failed to pay their
accounts with NHA.
Construction in Progress account pertains to the cost of on-going projects of NHA.
7. PREPAYMENTS AND DEFERRED CHARGES
This account consists of the following:
2013
344,445
81,456
9,332
3,553
438,786
Advances to contractors
Prepaid expenses
Prepaid insurance
Prepaid rent
Deposit on letters of credit
Deferred charges
Prepaid tax
100
2012
88,240
113,744
2,475
255
101,379
23,437
3
329,533
2012
106,541,752
100,855,709
84,754,373
11,435,944
4,362,122
1,946,494
338,320
279,521
29,682,335
340,196,570
(30,364,101)
309,832,469
101
149,184,562
127,762,428
8,876,520
6,857,956
1,482,920
1,447,946
12,080
1,738,280
297,362,692
(126,444)
297,236,248
2012
149,197,428
117,814,161
7,950,792
6,907,033
1,483,827
1,440,594
31,379
1,738,280
286,563,494
(126,444)
286,437,050
Land,
Buildings and
Leasehold
Improvements
Furniture,
Fixtures, and
Office
Equipment
Transportation Construction
Equipment
in
/Motor Vehicle
Progress
Total
Cost
Accumulated depreciation
19,937,364
(4,957,396)
4,143,975
(2,669,118)
4,959,783
(3,995,720)
299,833
-
29,340,955
(11,622,234)
14,979,968
1,474,857
964,063
299,833
17,718,721
17,602,874
1,398,873
1,003,883
114,428
20,120,058
Land
Cost
Accumulated depreciation
Allowance for probable losses
Buildings
& Building
Improvements
20,729,005
-
4,534,387
(163,509)
-
Others
32,739,931
-
(18,242)
Total
79,193,146
(9,695,258)
18,242)
20,729,005
4,370,878
11,639,832
32,739,931
69,479,646
18,316,626
4,167,267
10,114,802
31,336,133
63,934,828
This account consists of property acquired by AFPRSBS, GSIS, HDMF, SSS, HGC,
SBC, and TIDCORP from defaulting borrowers in settlement of receivables and
guarantee paid accounts which are held to earn rental or for capital appreciation or
both. Under PAS 40 on Investment Property (IP), ROPA are reclassified as IP.
102
9,470,901
4,236,681
1,242,679
1,101,915
1,065,188
414,418
334,490
296,945
268,040
139,796
96,142
7,792,368
26,459,563
2012
9,663,184
5,135,261
1,017,184
1,163,304
1,068,790
411,918
302,293
348,486
5,877
131,312
103,998
7,844,432
27,196,039
(51,585)
26,407,978
(51,660)
27,144,379
The Garnished/foreclosed assets account pertains mostly to the book value of various
called projects of HGC. This also includes property acquired by NHMFC on the
settlement of loans and receivables.
13. TRADE AND NON-TRADE PAYABLES
This account consists of the following:
2013
Accounts payable and accrued expenses
Social insurance claims payable
Due to reinsurers
Loans payable - domestic
Notes payable
Dividends payable
Loans payable - foreign
Bonds payable
Interest payable
Due to officers and employees
Income tax payable
17,333,247
8,157,524
2,726,005
2,200,000
1,230,589
335,411
97,024
74,097
73,091
56,330
12,227
32,295,545
2012
16,324,225
7,279,864
2,988,172
2,050,000
978,316
289,322
109,567
11,768,122
522,624
60,519
6,013
42,376,744
103
2013
10,110,235
2,647,062
2,415,996
1,942,574
1,741,964
1,416,521
Inter-agency payables
Funds held in trust
Vouchers payable
Members contribution payable
Other deferred credits
Unreleased checks
Estimated liability on earnings of members'
contributions
Unearned/deferred income
Provision for pending litigation
Accrued taxes payable
Due to BIR/HDMF/PHIC/GSIS
Performance/bidders/bail bonds payable
Tax refunds payable
Other current liabilities
2012
1,909,328
1,904,396
2,371,884
757,845
938,235
1,086,890
2013
2012
1,174,629
934,476
792,773
628,819
262,473
258,914
637,399
1,221,297
587,261
537,558
231,446
456,390
256,436
169,987
159,000
64,771
36,174
14,118
3,206
14,694,370
39,724,498
220,785
178,241
185,356
68,958
30,591
13,128
2,583
13,745,167
27,084,738
The Provision for unadjusted claims account is initially accrued when the insured
events occur. The liabilities for unadjusted claims are based on estimated cost of
settling the claims. Changes in estimates of claim costs and the difference between
estimates and final adjusted amount of claims are recognized as addition or deduction
to this liability account in the period in which the estimates are changed or final
adjustments are made. This account increase significantly by P8.201 billion due to
the estimated claims and losses brought about by catastrophic event in the Visayas
Region such as the earthquake in Bohol and super typhoon Yolanda in Tacloban.
The Undistributed collections account includes payments that cannot be credited to
the proper accounts at the time of receipt. In the absence of any other account to
which collections can be properly classified, the payments of the borrowers for their
loan amortization are temporarily recorded in this account by the HDMF and SSS.
The Other current liabilities account consists among others, the recognized liability for
call on HGC guaranty which has been approved for payment by the HGC Board
amounting to P4.589 billion and P4.295 billion for CYs 2013 and 2012, respectively.
The rights to the property securing the guaranteed obligation have been conveyed to
and/or claims of the mortgagee against the mortgagor have been assigned to the
Corporation.
104
This account also includes collections credited to the accounts pending receipt of
collecting agencies documents and actual distribution of collections and payments
whose nature are not indicated by payors of the SSS amounting to P6.246 billion and
P5.008 billion for CYs 2013 and 2012, respectively.
Loans payable-domestic
Due to other NGAs
Loans payable-foreign
Trust liabilities
Due to other funds
2012
34,568,490
1,145,887
2,162,414
2,724,568
1,068,790
41,670,149
105
22,728,257
4,116,960
3,096,959
2,383,207
2,300,893
645,420
595,227
53,919
2012
22,651,110
4,052,711
3,160,698
2,773,901
1,759,791
866,840
813,136
46,904
7,582
617,985
36,546,409
6,795
402,483
36,534,369
The Deferred credits account consists of the capitalized interest income on HDMF Multi-Purpose Loans and restructured housing loans which are credited to interest
income upon amortization every month end. It also includes capitalized origination
fees on loans processed prior to May 30, 2001, being amortized and credited as
income over the term of the loan; unearned income from Housing Loans; and rental
payments on foreclosed properties under the redemption period or rent-to-own
arrangement. The balance of HDMF deferred credits amounted to P18.218 billion and
P18.449 billion for CYs 2013 and 2012, respectively.
The unrealized income of the NHMFC: from capitalized arrearages of Restructed
Loans-Folio II; from capitalized interest income from commingle and liquidity reserve;
from take-out of PRA accounts against payable to BTr; from Folio I accounts returned
by HDMF; and from negotiated sale and unrealized service fee income from renewal of
MRI coverage with more than 12 months in arrears, also form part of the deferred
credits account amounting to P4.510 billion and P4.202 billion for CYs 2013 and 2012,
respectively.
18. BONDS PAYABLE
This account consists the non-current portion of the HDMF outstanding 5-year housing
bonds with interest of 5 per cent per annum, payable semi-annually, maturing on
March 12, 2015, which totaled P11.871 billion and P11.767 billion (net of bond issue
cost) for CYs 2013 and 2012, respectively.
This account also includes the HGC debenture bonds issued in payment of call on
HGC guaranty amounting to P0.231 billion and P0.304 billion for CYs 2013 and 2012,
respectively.
.
19. OTHER NON-CURRENT LIABILITIES
This account consists among others the estimated liability on earning of members
contribution of AFPRSBS amounting to P2.828 billion and P2.553 billion for CYs 2013
and 2012.
Total other non-current liabilities amounted to P3.819 billion and P2.631 billion for CYs
2013 and 2012, respectively.
20. EQUITY
This account consists among others the following:
a. Share in capital consists of the paid in portion of the authorized capital of the
Corporations.
106
b. Surplus reserves consists among others the net operating revenue of GSIS
reduced by the increase in reserves. This also includes the reserve fund of
SSS which consist of the total comprehensive income reduced by the corporate
operating budget for ECC and OSHC.
c. Members equity represents among others the contributions reduced by
withdrawals/refund of the members of HDMF and AFPRSBS.
For HDMF, it includes the corresponding employers counterpart of the
members contributions as well as the accumulated dividends of members. The
account is reduced by the provident claims of members, offsetting of unpaid
provident/multi-purpose loans against Total Accumulated Values (TAV) and
projected 20-year maturing TAVs.
For AFPRSBS, it includes the members contributions stated based on
remittance reports on actual deductions from the compensation of officers and
enlisted personnel in the active service. This also includes contributions from
the retirees covered by PD No. 1909 which is equivalent to 5 per cent of their
gross monthly pension. The account is reduced by the estimated amount of
refund of contributions payable to retiring members of the AFP within a oneyear period.
d. The retained earnings account includes among others, the net income after tax
and before other comprehensive income of the Corporations which totaled
P112.464 billion and P116.398 billion for CYs 2013 and 2012, respectively; the
transfer reserves of GSIS amounting to P58.144 billion and P60.488 billion for
CYs 2013 and 2012, respectively; dividends to HDMF members of P9.277
billion and P8.491 billion in CYs 2013 and 2012, respectively, and other prior
period adjustments.
This account was reduced among others, by the HDMFs dividends to members
amounting to P9.277 billion and P8.491 billion for CYs 2013 and 2012,
respectively; SBCs decrease in fair value adjustment of P79.830 million and
P89.652 billion for CYs 2013 and 2012, respectively, and stock dividends
released by SBC to GSIS amounting to P30.672 million for CY 2013.
21. INCOME
The reported income by government-owned and/or controlled corporations under the
Cluster is classified into three categories: business and service income, gains and
premiums and other income, details are as follows:
a.
107
For calendar years 2013 and 2012, total business and service income
amounted to P296.218 billion and P297.496 billion, respectively.
b. Gains and premiums include gain on; foreign exchange dealings; financial
asset and liabilities held for trading, sale of acquired assets; on sale of
disposed assets; and on sale of securities/investments..
For calendar years 2013 and 2012, total gains and premiums amounted to
P7.112 billion and P0.798 billion, respectively. The increase was caused
among others, by the gain on foreign exchange dealings of GSIS, HDMF HGC
and TIDCORP amounting to P4.064 billion and the gain from financial assets
held for trading of GSIS and HDMF amounting to P2.339 billion.
Claims and benefits paid by GSIS for social, optional life, general, pre-need and
employee compensation insurance of P85.697 billion and P68.071 billion for
CYs 2013 and 2012, respectively.
Lending costs of HDMF totaling P9.631 billion and P7.094 billion for CYs 2013
and 2012 respectively.
b. Personal services consist of salaries and wages and other manpower costs
including personnel benefits contributions to GSIS, HDMF, PHIC and ECC and
employees terminal benefits. The breakdown is presented as follows:
2013
4,506,513
108
2012
4,351,957
2,597,010
2,119,884
2,579,018
11,802,425
Other compensation
Personnel benefits contributions
Others
2,656,851
2,029,565
2,729,101
11,767,474
Utility expenses
Foreclosure / litigation expenses and legal
Communication expenses
Supplies and materials expenses
Advertising expenses
Confidential, intelligence, extraordinary and
miscellaneous expenses
Insurance
Taxes, insurance premiums and other fees
Provision for probable losses/bad debts
Traveling expenses
Training and scholarship expenses
Membership dues & contributions to organizations
Donations
Representation expenses
Fuel, oil and lubricants
Transportation and delivery expenses
Cultural and athletic expenses
Printing and binding expenses
Amortization expense
Program development expenses
Meetings and conferences
Business development expenses
Directors' fees and allowances
Subscription expenses
Rewards and other claims
Others
109
1,598,041
1,070,588
852,717
573,050
2012
1,087,947
1,053,404
719,560
509,081
2013
2012
552,148
401,412
382,021
327,458
219,466
557,912
251,910
379,975
339,633
168,756
151,505
148,966
145,153
127,601
97,014
74,677
62,909
60,749
35,895
22,058
17,336
15,070
5,971
5,356
3,022
2,744
2,231
1,492
631
3,363,772
177,936
161,959
200,259
3,212,620
91,008
60,434
68,357
5,919
26,937
21,740
19,372
18,960
7,115
1,675
2,394
3,104
3,655
1,833
625
511
2,519,927
10,321,053
11,674,518
d. Financial expenses are those that are not directly related to the operations of the
agencies such as interest expense on loans, bank charges and other financial
charges, details as follows:
2013
2,219,651
13,082
30,142
2,262,875
Interest expense
Bank charges
Others
2012
2,548,144
9,228
2,896
2,560,268
Interest expense account include among others, the interest on bonds and
borrowings by HDMF, HGC NHMFC, SBC and TIDCORP.
e. All other expenses that are not classified as personal services, maintenance and
other operating expenses and financial expenses are classified as other expenses,
which include among others, impairment loss, loss on sale of disposed assets and
loss on foreign exchange transactions.
12,051,858
1,011,301
759,572
105,256
13,927,987
2012
5,066,584
500,000
45,280
121,607
5,733,471
110
errors. Material prior period errors on the financial statements of some corporations
included in this report were restated or corrected retrospectively by:
a.
Restating the comparative amounts for the prior period(s) presented in which
the error occurred; or
b.
If the error occurred before the earliest prior period presented, restating the
opening balances of assets, liabilities and equity of the earliest prior period
presented.
The financial statements for CY 2013 of GSIS, HGC, NHMFC, SUMSI and TIDCORP
were restated to conform with the provisions of PAS 8.
Also, certain accounts in the 2012 financial statements were reclassified to conform
with the 2013 presentation.
111
112
Schedule 1
CORPORATE GOVERNMENT SECTOR
CLUSTER 2 - SOCIAL SECURITY SERVICES AND HOUSING
Summary Data of Agencies Under Cluster 2 - Social Security Services and Housing
Agency Name
Parent /
Abbreviation Controlling
Entity
Address
AFPRSBS
ECC
GSIS
GFB
GSIS
HDMF
HGC
NHMFC
NHA
OSHC
PDGCC
SBC
SHFC
NHMFC
SSS
SUMSI
TIDCORP
Enabling Law/Creation
PD No. 1656 & PD No. 1909
PD No. 626
RA 8291
Organized & Registered under SEC
RA 9679
RA 8763
PD No. 1267
PD 757 as amended EO 90 of 1986
113
RA No. 8282
Organized & Registered under SEC
PD No. 550 and PD No. 1080
Financial
Statements
of
GOCCs
Cluster 3
2012
ASSETS
Current assets
Cash and cash equivalents
Short term investments
Receivables, net
Inventories, net
Prepayments and deferred charges
Others
451,099,262
128,370,323
49,540
278,300,923
5,444,171
11,163,667
27,770,638
385,336,385
79,482,235
763,527
267,682,328
5,566,413
7,943,034
23,898,848
Non-Current Assets
Long-term receivable, net
Long-term investments
Investment property
Property, plant and equipment, net
BOT Electric Plants Under Capital Lease
Intangible assets
Others
1,447,985,668
465,722,664
234,996,403
14,426,327
521,472,025
45,547,019
54,024
165,767,206
1,476,486,872
535,116,783
234,877,920
12,965,246
533,756,197
47,506,125
68,473
112,196,128
TOTAL ASSETS
1,899,084,930
1,861,823,257
Current liabilities
Trade & Non-trade payables
Loans payable/bonds payable (current portion)
BOT Lease Obligation
Other current liabilities
351,145,056
267,951,218
26,968,174
34,792,932
21,432,732
269,097,213
190,051,854
27,165,824
32,087,802
19,791,733
Non-Current Liabilities
Notes payable
Mortgage payable
Bonds payable
Contracts payable
Loans and advances payable
BOT Lease Obligation
Provision for estimated liabilities
Deferred credits
Others
933,381,942
2,000,000
3,717
413,989
51,533
593,458,196
254,865,466
571,030
18,514,637
63,503,374
949,161,650
2,000,000
4,386
440,566
42,455
596,504,951
265,356,326
625,062
16,860,277
67,327,627
1,284,526,998
1,218,258,863
614,557,932
643,564,394
1,899,084,930
1,861,823,257
TOTAL LIABILITIES
TOTAL EQUITY
TOTAL LIABILITIES AND EQUITY
117
CPA
2012
ASSETS
Current assets
Cash and cash equivalents
Short term investments
Receivables, net
Inventories, net
Prepayments and deferred charges
Others
Non-Current Assets
Long-term receivable, net
Long-term investments
Investment property
Property, plant and equipment, net
BOT Electric Plants Under Capital Lease
Intangible assets
Others
TOTAL ASSETS
224,444
24,293
84,614
47,345
61,204
6,988
86,396
12,234
383
55,214
285
18,280
310,840
240,606
29,736
87,819
70,651
52,347
53
126,649
18,402
383
91,271
285
16,308
367,255
131,747
117,593
14,154
194,362
114,294
80,068
326,109
197,400
93,646
103,754
187,922
105,128
82,794
385,322
2013
LRTA
2012
504,752
248,294
422,628
200,641
43,851
6,064
205,080
1,463
5,118,983
22,405
12,909
185,804
869
4,945,650
2013
5,461,616
1,353,816
2,833,799
1,253,477
20,524
65,635,903
4,162,407
380,277
2,509,723
1,267,518
4,889
66,625,982
217
57,312,751
8,322,935
71,097,519
5,081,039
4,910,207
37,944
5,623,735
35,443
5,368,278
408,919
230,939
338,603
134,393
177,980
9,691
204,210
6,902
8,100,684
4,874,217
2,461,817
764,650
57,811,337
6,902
345,505
57,811,337
65,912,021
9,691
418,610
LWUA
2012
2013
2012
217
58,162,639
8,463,126
70,788,389
2,209,543
1,730,712
416,954
1,845
60,032
13,570,847
10,056,472
531,845
163,654
2,818,876
15,780,390
2,769,051
1,862,287
843,321
3,039
60,404
12,785,515
8,522,448
553,569
181,596
3,527,902
15,554,566
9,112,831
4,960,004
2,780,872
1,371,955
60,402,002
2,740,679
291,921
531,026
1,917,732
6,411,590
3,615,034
66,362
647,160
2,901,512
5,480,562
60,402,002
69,514,833
4,783,043
1,628,547
9,152,269
5,473,907
6,655
9,095,596
TOTAL EQUITY
(15,269)
(18,067)
5,205,125
5,022,773
5,185,498
1,273,556
6,628,121
6,458,970
310,840
367,255
5,623,735
5,368,278
71,097,519
70,788,389
15,780,390
15,554,566
118
NEA
2012
2013
NPC
2012
2013
PNR
2012
2013
2012
10,601,695
2,396,509
7,901,791
350
303,045
43,207,801
386,949
41,809,738
1,011,114
53,809,496
10,035,248
1,970,887
7,761,761
644
301,956
44,041,527
366,685
42,786,010
888,832
54,076,775
15,353,924
6,361,510
8,980,463
10,421
1,530
8,355,179
8,093,683
1,038
256,785
3,673
23,709,103
11,937,199
6,084,544
5,840,293
11,210
1,152
7,832,933
7,575,920
1,038
252,302
3,673
19,770,132
18,648,512
5,515,344
11,980,295
1,089,332
63,541
20,985,021
1,917,595
8,150,264
10,917,162
39,633,533
17,610,290
4,323,340
11,989,474
1,265,911
31,565
21,668,724
269,662
8,655,777
12,743,285
39,279,014
769,346
186,118
529,576
9,144
44,508
52,099,273
52,083,304
15,969
52,868,619
846,873
324,639
471,985
9,764
40,485
52,255,681
52,239,712
15,969
53,102,554
2,785,485
1,528,878
1,014,050
242,557
14,306,884
2,798,729
1,359,727
978,131
460,871
14,563,974
22,113,249
11,978,957
44,034
10,090,258
447,407
18,211,294
12,102,200
359,993
5,749,101
480,851
4,540,525
4,493,066
47,459
12,477,906
3,859,243
3,816,690
42,553
14,177,028
23,321,921
23,002,771
258,792
60,358
2,792,681
22,971,621
22,584,811
335,338
51,472
2,984,411
11,009,586
3,297,298
17,092,369
11,641,293
2,922,681
17,362,703
397,706
49,701
22,560,656
426,693
54,158
18,692,145
852,018
571,030
143,108
10,911,750
17,018,431
806,504
625,062
7,303
12,738,159
18,036,271
2,586,993
205,688
26,114,602
2,792,261
192,150
25,956,032
TOTAL EQUITY
36,717,127
36,714,072
1,148,447
1,077,987
22,615,102
21,242,743
26,754,017
27,146,522
53,809,496
54,076,775
23,709,103
19,770,132
39,633,533
39,279,014
52,868,619
53,102,554
119
PPC
2013
PNOC
2013
2012
2012
2013
8,876,095
6,191,195
1,761,652
46,968
759,057
117,223
97,108,531
2,046,823
94,120,591
941,117
105,984,626
6,607,518
4,522,343
1,243,892
43,379
671,161
126,743
97,895,869
1,989,104
95,569,305
337,460
104,503,387
12,726,694
7,462,228
4,283,121
938,417
42,928
1,919,362
67,386
(1,748,897)
3,416,316
184,557
14,646,056
6,417,599
2,425,947
3,040,444
912,544
38,664
2,804,268
(785,484)
3,518,858
70,894
9,221,867
2,786,741
909,476
37,331
562,693
1,277,241
37,822,434
10,159,178
11,584,082
219,766
15,859,408
40,609,175
3,125,861
2,233,573
417,635
474,653
8,652,966
2,000,000
5,695,563
572,527
384,876
11,778,827
3,428,102
2,440,573
475,554
511,975
9,901,234
2,000,000
7,072,227
398,892
430,115
13,329,336
11,012,346
10,300,461
711,885
2,722,910
4,218,247
4,110,463
107,784
2,565,761
633,788
2,089,122
13,735,256
369,243
2,196,518
6,784,008
PNOC-AFC
2012
2013
2012
4,567,421
2,910,852
37,688
387,010
1,231,871
36,139,318
8,394,707
11,600,292
225,643
15,918,676
40,706,739
524,597
473,753
45,831
5,013
3,429,365
3,657
2,574,485
851,223
3,953,962
533,545
422,574
98,218
12,718
35
2,388,149
2,155
1,098,989
1,287,005
2,921,694
367,730
265,767
101,963
5,015,587
419,836
341,954
77,882
5,008,231
33,202
33,202
721,239
24,462
24,462
405,877
2,789,156
2,226,431
5,383,317
2,790,605
2,217,626
5,428,067
700,162
21,077
754,441
386,747
19,130
430,339
94,205,799
91,174,051
910,800
2,437,859
35,225,858
35,278,672
3,199,521
2,491,355
105,984,626
104,503,387
14,646,056
9,221,867
40,609,175
40,706,739
3,953,962
2,921,694
120
PNOC-EC
2012
2013
PNOC-MPC
2012
2013
PNOC-RC
2012
2013
2012
502,988
301,552
149,575
37,549
14,312
369,269
85,000
267,760
4,046
12,463
872,257
492,243
276,352
162,599
40,334
12,958
406,340
123,000
265,965
4,925
12,450
898,583
6,575,499
4,823,210
1,166
629,925
353,845
767,353
10,169,590
194,456
9,106,247
868,887
16,745,089
4,787,018
2,087,771
729,070
960,576
455,315
554,286
9,171,190
373,923
8,026,898
770,369
13,958,208
757
11
742
4
757
746
11
728
7
746
329,923
247,174
56,795
25,954
774,900
492,731
282,148
21
1,104,823
493,519
397,199
62,177
12,517
21,626
627,639
347,850
279,768
21
1,121,158
12,207
8,180
4,027
234,716
10,042
6,673
3,369
245,163
733,791
641,210
92,581
2,654,114
935,201
344,257
590,944
2,588,465
1,659
1,659
-
1,632
1,632
-
31,389
31,389
80,494
30,843
30,843
80,494
80,246
154,470
246,923
79,707
165,456
255,205
2,464,940
189,174
3,387,905
2,441,936
146,529
3,523,666
1,659
1,632
80,494
111,883
80,494
111,337
TOTAL EQUITY
625,334
643,378
13,357,184
10,434,542
(902)
(886)
872,257
898,583
16,745,089
13,958,208
757
746
121
992,940
1,009,821
1,104,823
1,121,158
PSALM
2012
2013
TRANSCO
WATER DISTRICTS
2012
2013
2012
2013
2012
344,071,581
84,142,523
228,738,461
5,072,009
26,118,588
697,548,793
386,347,951
222,085,519
282,308,825
45,719,409
210,742,059
3,527,965
22,319,392
715,078,732
398,140,822
222,831,094
9,878,286
496,790
6,436,196
53,268
2,892,032
348,792,837
59,203,781
608
21,308,001
756,902
18,690,549
53,142
1,807,408
362,139,406
120,565,315
610
10,954,327
5,485,893
47,632
3,359,651
1,580,905
259,341
220,905
40,651,493
23,562
751,454
9,680,606
4,750,112
33,729
3,072,856
1,401,772
230,825
191,312
38,680,208
24,214
673,627
97,942
19,922
31,038
15,241
17,823
13,918
339,691
5,442
334,015
234
437,633
115,042
36,412
44,482
5,764
12,769
15,615
873,092
5,442
858,908
8,742
988,134
29,693,250
45,547,019
34,594,680
47,506,125
181,152,561
186,002,541
37,379,113
36,108,152
13,875,054
1,041,620,374
12,006,011
997,387,557
108,435,887
358,671,123
55,570,940
383,447,407
53,739
2,443,625
51,605,820
68,188
1,806,027
48,360,814
97,549
97,549
1,336,852
103,588
103,588
1,320,134
256,500,487
199,514,194
22,193,361
34,792,932
664,757,741
182,581,777
128,947,752
21,546,223
32,087,802
656,929,876
11,018,065
4,701,463
6,316,602
134,037,162
12,525,595
5,221,901
7,303,694
152,933,985
4,067,561
3,604,229
463,332
18,716,303
3,713,133
3,359,923
353,210
18,898,778
1,336,852
1,434,401
1,320,134
1,423,722
365,945,217
254,865,466
870,801
43,076,257
921,258,228
345,706,012
265,356,326
931,839
44,935,699
839,511,653
120,257,717
8,844,598
4,934,847
145,055,227
138,611,197
9,387,941
4,934,847
165,459,580
3,717
413,989
51,533
17,255,936
654,861
336,267
22,783,864
4,386
440,566
42,455
17,318,995
721,902
370,474
22,611,911
120,362,146
157,875,904
213,615,896
217,987,827
28,821,956
25,748,903
1,041,620,374
997,387,557
358,671,123
383,447,407
51,605,820
48,360,814
(996,768)
(435,588)
437,633
988,134
122
TOTAL
Notes
2013
2012
120,457,493
96,923,273
6,272,310
17,261,910
138,355,543
90,973,685
38,561,398
8,820,460
120,457,493
138,355,543
Expenses
Business expenses
Personal services
Maintenance and other operating expenses
Financial expenses
Others
103,407,675
6,628,358
12,502,468
35,076,478
28,889,497
20,310,874
88,092,424
8,897,205
12,320,770
35,463,170
29,878,290
1,532,989
17,049,818
50,263,119
Subsidy income
11,350,990
18,142,217
28,400,808
68,405,336
(3,081,896)
(2,783,870)
25,318,912
65,621,466
Income
Business and service income
Gains and premiums
Others
17
18
123
19
20
21
17
18
19
20
21
CPA
2012
2013
LRTA
2012
2013
LWUA
2012
2013
2012
2013
535,964
531,132
4,832
412,351
408,746
1,085
2,520
906,837
902,497
4,340
835,613
830,686
4,927
7,289,259
3,460,156
3,592,861
236,242
9,679,520
3,442,165
6,010,349
227,006
1,054,594
988,154
60,827
5,613
1,751,932
1,106,927
641,101
3,904
535,964
412,351
906,837
835,613
7,289,259
9,679,520
1,054,594
1,751,932
503,859
354,378
60,019
82,935
708
5,819
393,958
281,707
44,483
61,639
948
5,181
442,589
118,736
323,853
-
409,522
89,930
319,592
-
5,336,570
3,190,765
800,975
250,121
1,094,709
-
5,879,031
3,494,266
628,897
240,837
1,514,471
560
899,842
576,773
98,183
224,886
-
807,092
406,717
113,675
286,700
-
32,105
18,393
464,248
426,091
1,952,689
3,800,489
154,752
944,840
32,105
18,393
464,248
426,091
(10,317)
(1,698)
(140,645)
(154,970)
21,788
16,695
323,603
271,121
124
1,314,000
3,266,689
3,266,689
3,800,489
3,800,489
154,752
944,840
(27,393)
(77,103)
127,359
867,737
17
18
19
20
21
NEA
2012
2013
NPC
2012
2013
PNR
2012
2013
2012
2013
2,479,681
2,474,981
3,933
767
4,077,407
2,719,051
1,357,705
651
852,817
724,780
83,712
44,325
864,828
762,188
69,254
33,386
10,165,816
9,631,990
11,782
522,044
10,163,391
9,473,987
39,083
650,321
403,070
237,878
165,192
676,197
233,964
272,477
169,756
2,479,681
4,077,407
852,817
864,828
10,165,816
10,163,391
403,070
676,197
2,050,167
160,305
1,425,565
221,549
242,748
2,131,702
193,214
1,682,336
256,017
135
358,348
201,241
129,386
27,717
4
412,321
204,671
117,623
90,027
-
9,660,740
495,168
9,036,249
17,187
112,136
9,765,811
617,402
9,088,874
32,572
26,963
920,134
99,198
567,912
225,308
27,716
1,178,179
990
100,953
638,315
404,682
33,239
429,514
1,945,705
494,469
452,507
505,076
397,580
429,514
429,514
1,945,705
1,945,705
494,469
452,507
(120,367)
(111,929)
374,102
340,578
125
987,761
1,492,837
1,492,837
397,580
397,580
(517,064)
(501,982)
254,605
128,653
(262,459)
(373,329)
(262,459)
(373,329)
17
18
19
20
21
PPC
2012
2013
2013
PNOC
2012
PNOC-AFC
2012
2013
2012
2013
11,825,097
10,915,345
756,126
153,626
10,542,361
9,124,361
1,244,503
173,497
3,240,882
3,109,020
226
131,636
3,307,360
3,250,851
56,509
1,041,955
1,018,035
9,947
13,973
2,036,439
2,036,406
33
-
1,589,350
103,180
1,475,496
10,674
103,330
86,161
17,169
11,825,097
10,542,361
3,240,882
3,307,360
1,041,955
2,036,439
1,589,350
103,330
6,650,847
1,194,662
4,705,877
379,135
371,173
6,323,785
1,285,046
4,539,043
459,979
39,717
3,309,832
3,057
1,682,408
1,159,560
43,182
421,625
3,255,314
3,771
2,311,292
895,074
25,894
19,283
256,171
171,120
83,054
1,989
8
334,076
158,894
76,815
29,921
68,446
532,069
62,071
21,836
17,527
1,052
429,583
108,682
68,319
20,905
18,256
1,202
-
5,174,250
4,218,576
(68,950)
52,046
785,784
1,702,363
1,057,281
657,911
600,538
588,961
652,584
5,174,250
4,218,576
(1,472,072)
(1,060,556)
3,702,178
3,158,020
588,961
126
652,584
785,784
(47,176)
738,608
1,702,363
(48,261)
1,654,102
1,057,281
(316,186)
741,095
(5,352)
(5,352)
(427)
(5,779)
PNOC-EC
2012
2013
PNOC-MPC
2012
2013
PNOC-RC
2012
2013
2012
2013
66,313
37,019
1,795
27,499
81,217
47,806
33,411
6,702,362
6,451,523
189,528
61,311
8,963,359
8,885,500
77,859
11
11
14
14
64,302
46,389
17,913
39,339
131
39,208
66,313
81,217
6,702,362
8,963,359
11
14
64,302
39,339
47,052
10,407
22,560
13,961
124
-
46,513
8,025
22,357
15,977
154
-
2,835,253
2,185,904
236,537
379,882
32,930
4,747,243
3,941,924
224,013
489,646
91,660
27
27
-
26
26
-
80,778
26,503
21,485
21,057
11,733
-
33,253
104
14,900
17,202
1,047
-
19,261
34,704
3,867,109
4,216,116
(16)
(12)
(16,476)
6,086
19,261
34,704
(16)
(12)
(16,476)
6,086
(1,410)
(2,860)
17,851
31,844
(16)
(12)
17
18
19
20
21
3,867,109
(944,467)
2,922,642
127
4,216,116
(1,320,892)
2,895,224
(405)
(16,881)
(306)
5,780
17
18
19
20
21
PSALM
2012
2013
2013
TRANSCO
2012
WATER DISTRICTS
2012
2013
2013
2012
90,605
82,925
7,680
223,512
220,221
3,291
35,688,874
20,121,292
80,575
15,487,007
46,466,009
10,634,681
28,899,960
6,931,368
13,819,009
13,733,090
2,675
83,244
17,291,038
17,135,575
22,604
132,859
22,640,695
22,353,887
2,827
283,981
20,840,326
20,574,278
3,244
262,804
90,605
223,512
35,688,874
46,466,009
13,819,009
17,291,038
22,640,695
20,840,326
664,293
88,136
15,773
11,644
2,744
545,996
595,009
279,362
13,326
10,938
12,941
278,442
43,832,006
150,945
487,968
25,115,536
18,077,557
26,556,949
144,682
1,202,782
25,209,485
-
5,791,732
40,849
114,226
5,626,347
1,141
9,169
6,744,202
42,441
104,938
5,678,376
1,601
916,846
19,235,366
6,941,735
10,736,435.00
1,522,786
34,410
18,369,756
6,433,631
10,303,038
1,580,570
52,517
(573,688)
(371,497)
(8,143,132)
19,909,060
8,027,277
10,546,836
3,405,329
2,470,570
8,134,690
16,545,140
864,128
2,023
3,758
11,410,964
3,407,352
2,474,328
(573,688)
(573,688)
(371,497)
(8,442)
(371,497)
(8,442)
128
36,454,200
36,454,200
8,027,277
8,027,277
11,410,964
(1,458)
3,405,894
(4,868)
2,469,460
2012
2013
Government equity
Balance, beginning of period
236,630,224
Additions/deductions
(445,465)
200,786,507
35,632,677
236,184,759
236,419,184
79,979,394
40,835,712
(22,716,832)
39,143,682
57,262,562
79,979,394
35,431
35,431
35,431
35,431
Share premium
Balance, beginning of period
62,007
62,007
Share capital
Balance, beginning of period
Additions/deductions
Balance, end of period
Contingent capital
Balance, beginning of period
Additions/deductions
Additions/deductions
Balance, end of period
62,007
62,007
193,622
193,472
Appraisal capital
Balance, beginning of period
Additions/deductions
(2)
150
193,620
193,622
165,838,829
131,843,380
Appraisal increment
Balance, beginning of period
Additions/deductions
(3,526,447)
33,995,449
162,312,382
165,838,829
7,412,548
7,244,245
622,149
171,967
8,034,697
7,416,212
61,370
61,370
61,370
61,370
Donated capital
Balance, beginning of period
Additions/deductions
Balance, end of period
Miscellaneous surplus
Balance, beginning of period
Additions/deductions
Balance, end of period
129
2012
2013
Surplus reserves/appropriated RE
Balance, beginning of period
6,556,293
Additions/deductions
5,200,000
1,356,293
6,556,293
6,556,293
128,375,666
47,189,056
16
(2,799,188)
81,514,140
125,576,478
128,703,196
(735)
(735)
Treasury shares
Balance, beginning of period
Additions/deductions
(735)
(735)
Restricted capital
Balance, beginning of period
491,908
456,383
Additions/deductions
(29,051)
35,466
462,857
491,849
17,807,763
Additions/deductions
Balance, end of period
TOTAL EQUITY
See accompanying Notes to Summary Financial Statements
130
8,773
17,807,763
17,816,536
17,807,763
614,558,257
643,564,415
2013
LRTA
2012
2013
CPA
2012
LWUA
2013
2012
2013
4,159,926
4,159,926
4,159,926
4,159,926
Government equity
Balance, beginning of period
Additions/deductions
Balance, end of period
Share capital
Balance, beginning of period
Additions/deductions
Balance, end of period
2,985,546
2,985,546
2,985,546
2,985,546
Contingent capital
Balance, beginning of period
Additions/deductions
Balance, end of period
35,431
35,431
35,431
35,431
Share premium
Balance, beginning of period
Additions/deductions
Balance, end of period
Appraisal capital
Balance, beginning of period
Additions/deductions
Balance, end of period
Appraisal increment
Balance, beginning of period
Additions/deductions
Balance, end of period
17,442
(10,465)
6,977
27,907
(10,465)
17,442
231
231
Donated capital
Balance, beginning of period
Additions/deductions
Balance, end of period
3,193
3,193
3,193
3,193
23
23
131
3,034,879
(3,034,648)
231
23
23
2012
-
2,500,000
2,500,000
2,500,000
2,500,000
3,639,193
157,201
3,796,394
3,542,118
97,075
3,639,193
2013
LRTA
2012
2013
CPA
2012
2013
LWUA
2012
2013
2012
Miscellaneous surplus
Balance, beginning of period
Additions/deductions
Balance, end of period
61,370
61,370
61,370
61,370
Surplus reserves/appropriated RE
Balance, beginning of period
Additions/deductions
Balance, end of period
(38,702)
13,263
(25,439)
(54,079)
15,377
(38,702)
Treasury shares
Balance, beginning of period
Additions/deductions
Balance, end of period
Restricted capital
Balance, beginning of period
Additions/deductions
Balance, end of period
17,807,763
8,773
17,816,536
17,807,763
17,807,763
(15,269)
(18,067)
5,185,498
1,273,556
TOTAL EQUITY
16
(19,555,438)
3,903,169
(15,652,269)
132
(24,967,363)
5,411,925
(19,555,438)
862,847
182,352
1,045,199
5,205,125
734,980
127,867
862,847
5,022,773
258,407
11,950
270,357
6,628,121
(609,330)
867,737
258,407
6,458,970
2013
NEA
2012
6,095,205
6,095,205
NPC
2013
2012
4,970,461
4,970,461
4,970,461
4,970,461
6,095,205
6,095,205
2013
PNR
2012
27,048,871
27,048,871
2013
-
27,048,871
27,048,871
2012
903
903
903
903
1,500,000
1,500,000
1,500,000
1,500,000
Contingent capital
Balance, beginning of period
Additions/deductions
Balance, end of period
Share premium
Balance, beginning of period
Additions/deductions
Balance, end of period
Appraisal capital
Balance, beginning of period
Additions/deductions
Balance, end of period
Appraisal increment
Balance, beginning of period
Additions/deductions
Balance, end of period
28,656,080
(228,176)
28,427,904
28,656,080
28,656,080
Donated capital
Balance, beginning of period
Additions/deductions
Balance, end of period
1,046,971
1,046,971
1,046,971
1,046,971
177,561
177,561
133
177,561
177,561
2,222,387
(84)
2,222,303
2,823
229
3,052
2,222,387
2,222,387
4,158
(1,335)
2,823
40,699,652
40,699,652
-
1,023,588
39,676,064
40,699,652
-
2013
NEA
2012
2013
NPC
2012
2013
PNR
2012
2013
2012
Government equity
Miscellaneous
surplus
Balance, beginning of period
Additions/deductions
Balance, end of period
Surplus reserves/appropriated RE
Balance, beginning of period
Additions/deductions
Balance, end of period
16
915,816
231,231
1,147,047
(1,149,185)
2,065,001
915,816
(4,070,035)
70,460
(3,999,575)
(3,905,752)
(164,283)
(4,070,035)
(8,031,338)
1,372,214
(6,659,124)
(15,628,655)
7,597,317
(8,031,338)
(15,054,033)
(392,505)
(15,446,538)
(14,509,690)
(544,343)
(15,054,033)
Treasury shares
Balance, beginning of period
Additions/deductions
Balance, end of period
Restricted capital
Balance, beginning of period
Additions/deductions
Balance, end of period
TOTAL EQUITY
36,717,127
36,714,072
1,148,447
134
1,077,987
22,615,102
21,242,743
26,754,017
27,146,522
2013
PPC
2012
4,312,337
4,312,337
2013
-
4,312,337
4,312,337
PNOC
2012
3,721,708
(1,180,524)
2,541,184
2013
-
3,756,810
(35,102)
3,721,708
PNOC-AFC
2012
3,114,596
3,114,596
2013
-
3,114,596
3,114,596
2012
-
2,400,000
2,400,000
2,400,000
2,400,000
Contingent capital
Balance, beginning of period
Additions/deductions
Balance, end of period
Share premium
Balance, beginning of period
Additions/deductions
Balance, end of period
Appraisal capital
Balance, beginning of period
Additions/deductions
Balance, end of period
Appraisal increment
Balance, beginning of period
Additions/deductions
Balance, end of period
66,444,070
(1,089,159)
65,354,911
Donated capital
Balance, beginning of period
Additions/deductions
Balance, end of period
892,839
327,757
1,220,596
66,559,868
(115,798)
66,444,070
892,839
892,839
1,575,207
221,617
1,796,824
5,835
5,835
135
1,575,397
(190)
1,575,207
-
1,008,396
1,008,396
-
1,008,396
1,008,396
-
2013
PPC
2012
2013
PNOC
2012
2013
PNOC-AFC
2012
2013
2012
Government equity
Miscellaneous
surplus
Balance, beginning of period
Additions/deductions
Balance, end of period
Surplus reserves/appropriated RE
Balance, beginning of period
Additions/deductions
Balance, end of period
16
19,524,805
3,793,150
23,317,955
16,369,374
3,155,431
19,524,805
(2,859,056)
(573,987)
(3,433,043)
(3,038,586)
179,530
(2,859,056)
32,164,076
(52,814)
32,111,262
34,740,239
(2,576,163)
32,164,076
(917,041)
708,166
(208,875)
(911,262)
(5,779)
(917,041)
Treasury shares
Balance, beginning of period
Additions/deductions
Balance, end of period
Restricted capital
Balance, beginning of period
Additions/deductions
Balance, end of period
TOTAL EQUITY
94,205,799
91,174,051
910,800
136
2,437,859
35,225,858
35,278,672
3,199,521
2,491,355
2013
PNOC-EC
2012
2013
PNOC-MPC
2012
Government equity
Balance, beginning of period
Additions/deductions
Balance, end of period
Share capital
Balance, beginning of period
Additions/deductions
Balance, end of period
72,301
72,301
72,301
72,301
Contingent capital
Balance, beginning of period
Additions/deductions
Balance, end of period
Share premium
Balance, beginning of period
Additions/deductions
Balance, end of period
Appraisal capital
Balance, beginning of period
Additions/deductions
Balance, end of period
Appraisal increment
Balance, beginning of period
Additions/deductions
Balance, end of period
Donated capital
Balance, beginning of period
Additions/deductions
Balance, end of period
2013
2012
2013
2012
625
625
625
22,425
22,425
22,425
22,425
95,808
95,808
95,687
121
95,808
89,308
89,308
89,308
89,308
2,002,253
2,002,253
137
PNOC-RC
2,002,253
2,002,253
625
374,972
374,972
187,820
187,820
-
374,972
374,972
187,820
187,820
-
2013
PNOC-EC
2012
2013
Government equity
Miscellaneous
surplus
Balance, beginning of period
Additions/deductions
Balance, end of period
Surplus reserves/appropriated RE
Balance, beginning of period
Additions/deductions
Balance, end of period
PNOC-MPC
2012
2013
-
PNOC-RC
2012
2013
2012
-
6,312,000
6,312,000
5,200,000
1,112,000
6,312,000
244,293
244,293
244,293
244,293
2,009,291
2,922,642
4,931,933
2,161,428
(152,137)
2,009,291
(1,511)
(16)
(1,527)
(1,499)
(12)
(1,511)
202,736
(16,881)
185,855
440,601
(237,865)
202,736
(735)
(735)
(735)
(735)
16
475,269
(18,044)
457,225
443,546
31,723
475,269
Treasury shares
Balance, beginning of period
Additions/deductions
Balance, end of period
Restricted capital
Balance, beginning of period
Additions/deductions
Balance, end of period
TOTAL EQUITY
625,334
643,378
13,357,184
138
10,434,542
(902)
(886)
992,940
1,009,821
2013
PSALM
2012
-
190,000
190,000
2013
-
190,000
190,000
TRANSCO
2012
23,660,980
(21,536,308)
2,124,672
2013
-
(15,517,804)
39,178,784
23,660,980
WATER DISTRICTS
2012
222,831,093
(745,575)
222,085,518
187,532,230
35,298,863
222,831,093
2013
2012
4,667,841
300,110
4,967,951
4,122,987
333,814
4,456,801
Contingent capital
Balance, beginning of period
Additions/deductions
Balance, end of period
Share premium
Balance, beginning of period
Additions/deductions
Balance, end of period
39,582
39,582
39,582
39,582
Appraisal capital
Balance, beginning of period
Additions/deductions
Balance, end of period
193,622
(2)
193,620
193,472
150
193,622
Appraisal increment
Balance, beginning of period
Additions/deductions
Balance, end of period
Donated capital
Balance, beginning of period
Additions/deductions
Balance, end of period
24,931,736
(2,420,180)
22,511,556
-
139
27,451,371
(2,519,635)
24,931,736
-
1,560,637
131,127
1,691,764
1,488,074
76,227
1,564,301
2013
PSALM
2012
2013
TRANSCO
2012
2013
WATER DISTRICTS
2012
2013
2012
Government equity
Miscellaneous
surplus
Balance, beginning of period
Additions/deductions
Balance, end of period
Surplus reserves/appropriated RE
Balance, beginning of period
Additions/deductions
Balance, end of period
16
(625,588)
(561,180)
(1,186,768)
(308,210)
(317,378)
(625,588)
109,283,188
(13,557,270)
95,725,918
42,447,811
66,835,377
109,283,188
(4,843,266)
(3,626,356)
(8,469,622)
(1,962,202)
(2,881,064)
(4,843,266)
Treasury shares
Balance, beginning of period
Additions/deductions
Balance, end of period
Restricted capital
Balance, beginning of period
Additions/deductions
Balance, end of period
TOTAL EQUITY
(996,768)
(435,588)
120,362,146
140
157,875,904
213,615,896
217,987,827
18,675,239
2,791,268
21,466,507
491,908
(29,051)
462,857
28,822,281
16,896,890
2,105,879
19,002,769
456,383
35,466
491,849
25,748,924
2012
276,323,211
(146,407,938)
129,915,273
221,923,137
(161,513,429)
60,409,708
20,674,536
(32,184,996)
(11,510,460)
4,912,615
(10,148,176)
(5,235,561)
12,173,083
(82,000,873)
(69,827,790)
60,695,245
(95,324,710)
(34,629,465)
308,366
(48,102)
48,885,389
20,496,580
79,411,528
58,914,207
128,296,917
79,410,787
141
CPA
LRTA
2013
2012
2013
2012
499,128
(508,070)
(8,942)
576,537
(562,224)
14,313
971,671
(699,304)
272,367
911,921
(691,777)
220,144
4,818,939
(2,866,395)
1,952,544
3,749,560
(3,090,920)
658,640
993,093
(736,080)
257,013
1,108,522
(889,710)
218,812
(6,836)
(6,836)
(21,125)
(21,125)
(224,714)
(224,714)
(279,854)
(279,854)
(538,848)
(538,848)
(339,414)
(339,414)
60,472
(426,385)
(365,913)
40,538
(576,707)
(536,169)
14,812
(4,477)
10,335
7,959
(4,365)
3,594
(440,157)
(440,157)
85,250
(4,878,662)
(4,793,412)
1,134,602
(1,157,277)
(22,675)
1,284,204
(702,762)
581,442
(5,443)
(3,218)
47,653
(59,710)
973,539
(4,474,186)
29,736
32,954
200,641
260,351
380,277
4,854,463
1,862,287
1,598,202
24,293
29,736
248,294
200,641
1,353,816
380,277
1,730,712
1,862,287
142
2013
LWUA
2012
2013
2012
(131,575)
264,085
NEA
2012
2013
NPC
2012
2013
PNR
2012
2013
2012
3,068,103
(348,834)
2,719,269
2,906,042
(338,385)
2,567,657
10,531,071
(9,596,140)
934,931
11,203,385
(7,478,080)
3,725,305
10,551,700
(9,293,248)
1,258,452
14,772,774
(11,338,810)
3,433,964
606,430
(653,068)
(46,638)
472,241
(633,347)
(161,106)
(804,399)
(804,399)
180,000
(2,424,175)
(2,244,175)
(17,947)
(17,947)
(12,466)
(12,466)
57,037
(60,219)
(3,182)
69,474
(89,723)
(20,249)
13,371
(94,132)
(80,761)
331,597
(136,841)
194,756
443,246
(1,935,972)
(1,492,726)
2,274,446
(2,036,733)
237,713
(640,018)
(640,018)
(822,239)
(822,239)
(63,266)
(63,266)
65,000.00
(2,380,685)
(2,315,685)
(11,122)
(11,122)
(2,170)
(2,170)
3,478
(3,215)
(25)
425,622
557,980
276,966
2,890,600
1,192,004
1,098,005
(138,521)
31,480
1,970,887
1,412,907
6,084,544
3,193,944
4,323,340
3,225,335
324,639
293,159
2,396,509
1,970,887
6,361,510
6,084,544
5,515,344
4,323,340
186,118
324,639
143
PPC
2012
2013
PNOC
2012
PNOC-AFC
2013
2012
2013
2012
11,221,849
(6,250,007)
4,971,842
10,497,095
(6,802,927)
3,694,168
3,834,606
(3,194,956)
639,650
3,657,405
(3,056,751)
600,654
476,127
(448,155)
27,972
593,753
(297,934)
295,819
138,086
(90,828)
47,258
118,178
(103,065)
15,113
(1,555,166)
(1,555,166)
194,369
(1,111,900)
(917,531)
17,630,704
(13,125,740)
4,504,964
1,087,296
(695,365)
391,931
280,379
(1,809,727)
(1,529,348)
1,947,088
(202,798)
1,744,290
12,796
(8,875)
3,921
14,393
(14,652)
(259)
(1,745,893)
(1,745,893)
(2,354,111)
(2,354,111)
(107,166)
(107,166)
(47,729)
(47,729)
(500,000)
(500,000)
(3,577,533)
(3,577,533)
(1,167)
(1,890)
(1,931)
1,704
1,668,852
424,230
5,036,281
942,966
4,522,343
4,098,113
2,425,947
6,191,195
4,522,343
7,462,228
144
(2,001,376)
(1,537,424)
51,179
14,854
1,482,981
2,910,852
4,448,276
422,574
407,720
2,425,947
909,476
2,910,852
473,753
422,574
PNOC-EC
2012
2013
PNOC-MPC
2012
2013
2012
71,234
(47,402)
23,832
92,849
(52,316)
40,533
6,856,100
(2,938,646)
3,917,454
8,441,661
(5,756,671)
2,684,990
73,000
(36,395)
36,605
(52,157)
(52,157)
929,349
(1,800,391)
(871,042)
(937,192)
(937,192)
(35,237)
(35,237)
(500,501)
(500,501)
189,528
25,200
(11,624)
2,735,439
239,933
276,352
287,976
2,087,771
1,847,838
11
301,552
276,352
4,823,210
2,087,771
11
145
PNOC-RC
2013
2012
78,890
(70,910)
7,980
16,282
(38,251)
(21,969)
14
(14)
-
14
(14)
-
21,227
(179,232)
(158,005)
34,398
(234,287)
(199,889)
(1,501,503)
(1,501,503)
(6,362)
(150,025)
(221,858)
11
397,199
619,057
11
247,174
397,199
PSALM
2013
2012
2013
115,588
(144,957)
(29,369)
256,202
(235,688)
20,514
TRANSCO
2012
197,833,331
140,907,410
(89,860,193) (102,794,662)
107,973,138
38,112,748
(46,327)
(46,327)
(7,120,401)
(7,120,401)
(234,386)
(234,386)
33,000
(20,121)
12,879
152,000
(120,163)
31,837
9,744,614
(72,290,019)
(62,545,405)
56,255,469
(74,629,703)
(18,374,234)
2012
2013
253,294
(278,225)
(24,931)
266,870
(290,927)
(24,057)
23,403,971
(18,382,520)
5,021,451
21,374,450
(17,060,984)
4,313,466
1,315,782
(1,553,639)
(237,857)
667,489
(479,341)
188,148
280,405
(2,821,936)
(2,541,531)
345,959
(2,259,452)
(1,913,493)
802,809
(2,549,647)
(1,746,838)
570,917
(2,266,352)
(1,695,435)
2,676
(2,492)
2012
(16,490)
6,024
38,423,114
19,468,306
(260,112)
161,599
733,082
704,538
36,412
30,388
45,719,409
26,251,103
756,902
595,303
4,679,405
3,974,126
19,922
36,412
84,142,523
45,719,409
496,790
756,902
5,412,487
4,678,664
146
(35,822)
2013
115,782
WATER DISTRICTS
CLUSTER 3
GENERAL INFORMATION
Cluster 3 composes of GOCCs engaged in energy, electrification, communication, transportation, water
and real estate development. The mandates of the GOCCs under this Cluster are enumerated in Annex 4.
As of December 31, 2013, a total of 19 GOCCs composes this Cluster consisting of 11 parent/stand alone
corporations, 8 subsidiaries and 477 Water Districts. The audit jurisdiction and supervision over the 477
Water Districts and the following GOCCs, which are located in the Regions, is with the various COA
Regional Offices:
NAME OF GOCC
Stand alone
Light Rail Transit Authority
Local Water Utilities Administration
Metropolitan Waterworks and Sewerage Authority
National Electrification Administration
National Power Corporation
Philippine National Oil Company
Philippine National Railways
Philippine Ports Authority
Philippine Postal Corporation
Power Sector Assets and Liabilities Management Corp.
Cebu Port Authority
Subsidiary
APO Production Unit
National Transmission Corporation
PNOC-Alternative Fuels Corporation
PNOC-Renewables Corporation
PNOC-Development and Management Corporation
PNOC-Shipping and Transport Corporation
PNOC-Exploration Corporation
PNOC-Malampaya Production Corporation
ACRONYM
REGION
LRTA
LWUA
MWSS
NEA
NPC
PNOC
PNR
PPA
PPC
PSALM
CPA
NCR
NCR
NCR
NCR
NCR
NCR
NCR
NCR
NCR
NCR
VII
APU
TransCo
PNOC-AFC
PNOC-RC
PNOC-DMC
PNOC-STC
PNOC-EC
PNOC-MPC
NCR
NCR
NCR
NCR
NCR
NCR
NCR
NCR
A complete listing of the GOCCs under the audit jurisdiction of this Cluster, including their acronyms, the
addresses of their registered offices and the laws creating them, is presented in Schedule 1.
Report Coverage/Limitations
The discussions that follow pertain to the Summary Financial Statements of GOCCs under this Cluster
other than the Water Districts. The Summary Financial Statements of the various Water Districts are
presented separately but without Notes to Financial Statements.
Excluding the Water Districts, there are 19 parent and subsidiary corporations under this Cluster. The
financial statements of these GOCCs were included in this AFR, with Annual Audit Reports on 19 GOCCs
already transmitted to their Boards/Managements.
The members of the governing boards of the GOCCs under this Cluster are listed in Annex 2.
147
CLUSTER 3
NOTES TO SUMMARY FINANCIAL STATEMENTS
(in thousand pesos)
1.
SUMMARY OF SIGNIFICANT
EXPLANATORY INFORMATION
ACCOUNTING
POLICIES
AND
OTHER
Basis of Preparation
The financial statements of the PNOC and subsidiaries and PSALM have been prepared in
accordance with the Philippine Financial Reporting Standards (IFRS). On the other hand, the
financial statements of the other GOCCs included in this AFR have been prepared in accordance
with the Generally Accepted Accounting Principles in the Philippines.
These financial statements have been prepared using the historical cost basis except for certain
properties which are stated at appraised or fair value.
The financial statements of the parent corporations were presented separately from those of their
subsidiaries.
The financial statements are presented in Philippine peso, which is the functional and presentation
currency of all the GOCCs under this Cluster. All amounts are rounded to the nearest thousand.
Cash and Cash Equivalents
Cash includes cash on hand and in banks. Cash equivalents are short-term, highly liquid
investments that are readily convertible to known amounts of cash with original maturities of three
months or less from dates of acquisition and that are subject to insignificant risk of changes in
value.
Receivables
Receivables are stated at face value, less allowance for doubtful accounts. Allowance for doubtful
account is established based on a certain percentage of the receivables as aged which varies among
the GOCCs.
Inventories
Most GOCCs stated their inventories at cost which is determined by either the moving average
method or the first-in, first-out (FIFO) method. Other GOCCs stated their inventories at the lower
of cost and net realizable value.
Property, Plant and Equipment
Property, plant and equipment, except for land, are carried at cost less accumulated depreciation
and any impairment in value.
LRTAs property and equipment pertaining to its Line 1 and 2 operations are measured at
appraised value.
Likewise, property and equipment of PPA, PNR and MWSS are carried at appraised value except
148
for additions in between the periods of appraisal which are recorded at acquisition cost.
Utility plants of NPC and TransCo are carried at revalued amount less any accumulated
depreciation except for additions and acquisitions during the year which are initially recorded at
cost.
NPC-transferred assets are recognized in PSALMs books at their carrying amounts as stated in
NPC books as of transfer date of December 31, 2008.
Depreciation is calculated on a straight-line basis over the estimated useful lives of the
corresponding assets.
Major repairs and improvements that will prolong the useful lives of the assets are capitalized,
while maintenance minor replacements and repair costs are charged to operations in the year
expenses are incurred.
The costs of assets sold, retired or disposed, together with the accumulated depreciation, are
removed from the accounts and any resulting gain or loss on disposition is recognized for the
period.
Construction In-Progress
Construction in-progress is stated at cost. While the construction is in progress, no provision for
depreciation is recognized.
Construction in-progress is transferred to the related Property, Plant and Equipment account when
the construction or installation and related activities necessary to prepare the property, plant and
equipment for their intended use have been completed and ready for use.
Build-Operate-Transfer (BOT) Plants
Total capacity fees for the duration of the cooperation period are capitalized and recognized as
asset under BOT Electric Plants under Capital Lease account. A liability corresponding to the
unpaid portion of the capital recovery fees is set up under BOT Lease Obligation. Privatized
BOT plants are derecognized from the books upon their turnover to the appointed Independent
Power Producer Administrator.
Revenue Recognition
Seven corporations measure revenue at fair value of the consideration received or receivable.
Revenue is recognized when there is persuasive evidence that an arrangement exists, delivery has
occurred, title has transferred, selling price is fixed or determinable and collectability of the selling
price is reasonably assured.
Nine corporations adopt the accrual method of accounting for revenue and expenses wherein
income and expenses are recognized as they are earned and incurred.
One agency uses the accrual basis of accounting, except for income from ticket sales and income
on lease of real property not covered with lease contracts which are recorded upon receipt, while
another agency adopts the installment method of accounting in the determination of the periods
income. Income is recognized upon receipt of sufficient down payment. Under the installment
method, gross profit on sale is initially deferred and recognized when the principal payments on
149
the related installment contracts receivable are collected. Realized income is computed based on
the collections multiplied by the average gross profit rate of the project.
Foreign Currency Transactions
Foreign currency transactions are recorded based on either the Bangko Sentral ng Pilipinas (BSP)
or the Philippine Dealing System (PDS) reference rates prevailing on the date of transactions.
Monetary assets and liabilities denominated in foreign currencies are translated using the exchange
rate at balance sheet date. Translation adjustments are recognized in profit or loss for the period.
2.
Cash on hand
Cash in banks
Short-term placements
2012
2,061,765
61,247,899
11,422,459
74,732,123
Cash in banks, which are in local and foreign currencies, earn interest at the respective bank
deposit rates.
Short-term placements are made for varying periods of up to three months. These placements earn
interest at the respective short-term placement rates.
3.
RECEIVABLES
Accounts receivable
Lease/rent receivable
Loans receivable
Due from GOCCs, NGAs and LGUs
Interest receivable
Due from Non-Government Organizations
and cooperatives
Due
from
operating
units/other
funds/subsidiaries and affiliates
Due from officers and employees
Notes receivable
Receivablesdisallowances/charges
Dividends Receivable
Advances to contractors
Others
Less: Allowance for doubtful accounts
Allowance for impairment
2013
155,062,995
462,266
3,568,753
98,522,566
4,067,824
2012
142,687,628
409,876
4,257,959
90,468,898
5,907,893
6,369,401
3,538,923
3,707,594
429,072
17,978
44,783
4
54,134
17,250,246
289,557,616
14,235,999
380,345
274,941,272
9,827,682
409,566
17,419
47,963
51,804
15,312,904
272,938,515
8,049,589
279,454
264,609,472
150
charges, including ancillary service charges and restructured power receivables, net of refunds to
power customers as a result of ERC decisions. It also consists of PSALMs receivable from
various Independent Power Producer Administrators (IPPAs) amounting to P42,722.161 million
and P38,809.086 million for CY 2013 and CY 2012, respectively, and receivables of NPC from
power customers amounting to P8,239.003 million and P9,458.459 million for CY 2013 and CY
2012, respectively.
Others substantially consist of PSALMs account representing various transferred accounts from
NPC amounting to P4,688.110 million and P4,339.334 million for CY 2013 and CY 2012,
respectively, the nature of which is subject to validation upon disclosure of further details and
submission of supporting documents by NPC. It also consists of MWSS receivables from its two
concessionaires, the Maynilad Water Services, Inc. (MWSI) and the Manila Water Company
Incorporated (MWCI). The receivable from MWSI pertains to the restructured concession fees
amounting to P5,647.357 million and P5,591.216 million for CY 2013 and CY 2012, respectively,
which composes the Tranche A2 concession fees-debt service and Tranche B concession fees-cost
of borrowings, while that of the MWCI amounted to P138.750 million and P136.194 million for
CY 2013 and CY 2012, respectively.
4.
INVENTORIES
At net realizable value:
Merchandise inventory
Materials and supplies
Gasoline, oil and lubricants
Others
Less : Allowance for obsolescence
2013
2012
69,618
2,693,298
10,216
1,096,393
3,869,525
6,259
3,863,266
59,404
2,836, 412
10,785
1,262,841
4,169,442
4,801
4,164,641
Materials and Supplies substantially consists of spare parts for the repair and maintenance of
rolling stocks of LRTA.
5.
Prepayments
Input VAT
Creditable withholding tax
Prepaid taxes
Deferred charges
Advances to contractors
Guaranty deposits
Others
151
2012
2,664,099
629,870
167,740
330,657
241,172
767,633
958,236
1,952,802
7,712,209
6.
7.
LONG-TERM RECEIVABLES
2013
470,218,723
20,036,161
4,952,596
495,207,480
29,508,378
465,699,102
Accounts receivable
Loans receivable
Others
Less: Allowance for doubtful accounts
2012
523,865,221
17,989,584
4,938,233
546,793,038
11,700,469
535,092,569
8.
LONG-TERM INVESTMENTS
Investment
in
subsidiaries/affiliates/
joint ventures
Investment in stocks
Sinking fund
Investment in Treasury Bills/Notes
Investment in bonds
Others
Less: Allowance for impairment
2013
2012
228,097,097
409,927
1,773,928
4,963,108
322,401
(755,397)
234,811,064
566,115
234,244,949
228,797,294
410,269
1,466,872
3,402,182
593,442
100,349
234,770,408
566,115
234,204,293
152
TransCo of PSALM amounting to P 222,085.519 million and P 222,831.094 million for CY 2013
and CY 2012, respectively.
Others includes PPCs Investments in Area Offices account which showed an abnormal negative
balance of P 2,225.199 million and P1,261.484 million for CY 2013 and CY 2012, respectively.
All intermediate/reciprocal accounts, such as Due from Area Offices and Due to Area Offices
which are maintained in the Central Office books, were closed to the Investment in Area Offices
accounts maintained in the Central Office books and Areas Equity Account maintained in the Area
Offices books.
9.
2012
142,417,077
343,198
15,859,536
53,891,799
3,521
5,455,564
3,317,140
49,774,452
401,972,605
29,935,358
61,459,438
1,902,878
766,332,566
303,196,265
463,136,301
34,511,744
497,648,045
Utility plant refers to Electric Plant in Service of PSALM, NPC and TransCo which include
transmission and distribution facilities, general plant and equipment, as well as substation and
communication equipment. This account also includes electric plants which are not in service at
NPC and TransCo.
Transportation equipment substantially consists of the trains of LRTA.
Plant equipment and transmission lines include the costs of transmission lines of MWSS.
Construction-in-progress includes the costs of Engineering Expansion Projects and operation and
maintenance/system operation/metering projects of TransCo amounting to P 7,422.333 million and
P 7,882.513 million for CY 2013 and CY 2012, respectively. It also includes Line I
Rehabilitation and Modernization Project and initial costs of North Extension Project which are
both LRTA projects amounting to P14,921.415 million and P14,725.585 million for CY 2013 and
CY 2012, respectively. The implementation of Angat Water Utilization and Aqueduct
Improvement Project (AWUAIP) Phase 2 of MWSS is also included in this account amounting to
P 6,401.373 million and P 5,774.051 million, respectively.
153
10.
INVESTMENT PROPERTY
This account consists of land being leased to third parties by PNOC and PNOC-DMC. It also
includes the land and building in the Energy Center and eight (8) properties conveyed by the
National Development Company to PNOC as redemption of the preferred shares through a twotranche dacion en pago.
11.
12.
2013
15,682,566
8,210,320
2,889,157
1,239,273
579,623
36,748
13,519
2012
15,608,050
2,227,492
12,571,131
1,218,420
554,789
4,549,640
6,212
134,864,289
73,834,057
163,515,495
191,537
377
163,323,581
110,569,791
179,313
377
110,390,101
154
13.
2013
31,946,634
34,702,840
2012
27,854,863
34,326,670
106,825,929
55,984,910
7,608,262
288,663
52,863,727
52,975,438
8,957,713
120,542
1,543,022
983,466
6,918,583
17,544,680
264,346,989
1,455,659
554,698
1,793,266
5,789,355
186,691,931
Due to operating units/other funds/subsidiaries and affiliates refer mostly to the amount of
concession fees received by PSALM from NGCP. The amount shall be offset by: (i) any
remittance made by PSALM to TransCo; (ii) the receipt of dividends from TransCo; and (iii) the
reduction in value of TransCo assets, represented by the amount of depreciation.
14.
2013
420,141,868
2012
434,603,094
14,476
3,650,403
151,877,473
518,040
576,202,260
14,243
3,340,051
141,038,890
189,678
579,185,956
Loans payable represents domestic and foreign loans of the various GOCCs.
15.
RETAINED EARNINGS
2013
109,700,427
21,913,018
(3,229,683)
(24,273,790)
104,109,972
155
2012
30,292,166
63,152,006
(3,828,044)
20,084,299
109,700,427
Six (6) of the GOCCs included in this summarization suffered deficits in CY 2013 and CY 2012
with the following incurring the biggest deficits:
2013
(573,688)
(262,459)
(16.881)
(8,442)
(16)
0
PNOC-STC
PNR
PNOC-RC
PSALM
PNOC-MPC
PNOC-AFC
16.
2012
(371,497)
(373,329)
0
0
(12)
(5,779)
2012
37,345,547
1,184,537
27,626
444
38,558,154
Gain on foreign exchange substantially consists of PSALMs account which pertains to foreign
exchange adjustments realized on repayment of loans and unrealized on restatement of outstanding
balances of foreign-currency denominated loans, trade and other payables, short-term placements
and cash in banks.
17.
OTHER INCOME
2013
14,484,417
608
34
1,711,081
6,980
225,744
69,498
331,807
147,760
16,977,929
Dividend income
Equipment rental
Liquidated damages
Interest income
General Income
Miscellaneous
Other Income
Rent income
Others
2012
6,095,120
602
18
1,805,211
7,364
178,350
106,188
299,242
65,562
8,557,657
Dividend income substantially consists of TransCos remittance to PSALM of its net profit as
provided for under the EPIRA law.
18.
PERSONAL SERVICES
2013
3,187,111
1,381,361
401,304
156
2012
3,490,358
1,523,731
509,208
Others
19.
20.
590,957
5,560,733
363,842
5,887,139
2012
10,286,428
6,388,963
316,855
1,499,122
1,240,936
697,614
139,817
399,017
324,107
132,384
28,380
177,804
75,078
11,150
32,725
35,295
1,479,290
288
1,280,901
613,977
25,160,131
OTHER EXPENSES
2013
7,335
18,445,669
22,791
390,251
1,410,418
20,276,464
2012
81,360
50,153
11,105
25,460
1,312,394
1,480,472
Note: The figures presented herein do not include Water Districts. The Notes to FS of the Water
Districts are separately prepared.
157
Parent/
Agency Name
Acronym
Controlling
Entity
1. APO Production Unit, Inc.
APU
CPA
LRTA
LWUA
MWSS
PNOC
PAFC
PNOC
PDMC
PNOC
NEA
NPC
158
Enabling
Law/Creation
LOI 197 of 1974 and
RA 10149 of 2011
RA 7621
EO 603 as amended by
EO 830 of 1982 and EO
210 of 1987
PD 198 of 1973 as
amended by PD 768 and
PD 1479
MWSS Bldg., Katipunan Road, Old RA 6234 o 1971 and RA
Balara, Quezon City
8041 of 1995
NIA Road, Government Center,
PD 269 of 1973
Diliman, Quezon City
Quezon Avenue cor. BIR Road,
CA 120 of 1936 as
Diliman, 1100 Quezon City
amended by RA 6395
PNOC Bldg. 6, Energy Center, Fort PD 334 of 1973
Bonifacio, Taguig City
2263 La Panday Center, Pasong
Corporation Law
Tamo Extension, Makati City
PNOC Bldg. 6, Energy Center, Fort Corporation Law
Bonifacio, Taguig City
Parent/
Agency Name
Acronym
Controlling
PNOC-EC
Entity
PNOC
PMPC
PNOC
PNOC-RC
PNOC
PSTC
PNOC
PPA
PPC
PNR
PSALM
TransCo
PSALM
159
Enabling
Law/Creation
Corporation Law
Corporation Law
Corporation Law
Corporation Law
RA 4156 and 6366; PD
741
PD 505 of 1974 as
revised by PD 857 of
1975
RA 7354 of 1992
RA 9136
RA 9136
Financial
Statements
Of
GOCCs
Cluster 4
Cluster 4
Summary Balance Sheet
December 31, 2013
(With corresponding figures for 2012)
(In thousand pesos)
TOTAL
Notes
2013
2012
3
4
5
6
84,027,557
47,577,259
2,363,825
23,606,192
2,300,136
7,562,614
617,531
79,376,621
41,161,945
68,670
26,810,554
3,061,109
7,313,590
960,753
7
8
9
10
11
253,215,614
20,030,509
43,092,610
111,405,273
49,482,289
29,204,933
252,469,743
18,690,785
47,233,795
110,519,878
46,899,622
29,125,663
337,243,171
331,846,364
39,273,591
32,252,865
5,954,358
1,066,368
44,199,078
36,770,270
6,336,580
1,092,228
94,975,115
3,500,365
61,244,407
5,805
24,296,873
5,927,665
98,752,998
3,500,365
65,603,316
3,876
24,342,611
5,302,830
Total Liabilities
134,248,706
142,952,076
Equity
202,994,465
188,894,288
337,243,171
331,846,364
Assets
Current Assets
Cash and cash equivalents
Short term investments
Receivables (net)
Inventories, net
Prepayments and deferred charges
Others
Non-Current Assets
Long-term receivables, net
Long-term investments
Property, plant and equipment - net
Investment property
Others
Total Assets
Liabilities and Equity
Current Liabilities
Trade & non-trade payables
Current portion of long-term debt
Others
Non-Current Liabilities
Bonds payable
Loans and advances payable
Provision for estimated liabilities
Deferred credits
Others
12
13
163
Cluster 4
Summary Balance Sheet
December 31, 2013
(With corresponding figures for 2012)
(In thousand pesos)
AFAB
2013
Assets
Current Assets
Cash and cash equivalents
Short term investments
Receivables (net)
Inventories, net
Prepayments and deferred charges
Others
APECO
2012
2013
BCDA
2012
2013
BTPI
2012
2013
2012
459,825
268,594
108,019
4,052
79,160
-
374,348
230,992
88,415
3,778
51,163
-
109,880
61,351
12,953
170
35,406
131,104
77,760
15,761
42
37,541
-
16,792,976
7,333,685
2,133,499
5,236,143
1,127,662
426,878
535,109
16,656,861
9,197,589
10,627
4,863,864
1,286,838
417,089
880,854
17,804
5,799
9,609
1,343
1,053
-
19,839
7,819
9,620
1,347
1,053
-
Non-Current Assets
Long-term receivables, net
Long-term investments
Property, plant and equipment - net
Investment property
Others
1,043,118
1,039,492
3,626
1,031,794
1,024,616
7,178
661,983
661,983
-
565,927
565,927
-
112,475,307
3,235,106
38,135,857
43,159,083
26,424,782
1,520,479
113,409,255
197,919
41,663,909
43,595,515
26,424,782
1,527,130
16,863
9,133
7,730
38,174
30,327
7,847
Total Assets
1,502,943
1,406,142
771,863
697,031
129,268,283
130,066,116
34,667
58,013
459,730
456,721
3,009
374,979
372,620
2,359
9,783
9,783
-
23,022
23,022
-
9,475,694
8,667,667
808,027
-
10,125,203
9,247,072
878,131
-
541,973
541,973
-
527,591
527,591
-
Non-Current Liabilities
Bonds payable
Loans and advances payable
Provision for estimated liabilities
Deferred credits
Others
64,439
64,439
-
145,666
145,666
-
28,776,068
21,816,733
6,959,335
-
32,097,276
25,602,393
6,494,883
-
3,117
365
2,752
3,117
365
2,752
Total Liabilities
524,169
520,645
9,783
23,022
38,251,762
42,222,479
545,090
530,708
Equity
978,774
885,497
762,080
674,009
91,016,521
87,843,637
(510,423)
(472,695)
1,502,943
1,406,142
771,863
697,031
129,268,283
130,066,116
34,667
58,013
164
Cluster 4
Summary Balance Sheet
December 31, 2013
(With corresponding figures for 2012)
(In thousand pesos)
BMHI
2013
Assets
Current Assets
Cash and cash equivalents
Short term investments
Receivables (net)
Inventories, net
Prepayments and deferred charges
Others
CDC
2012
CIAC
2013
2012
2013
JHMC
2012
2013
2012
311,757
246,035
29,249
31,697
328
4,448
-
283,528
256,939
23,344
306
2,939
-
1,674,397
1,433,572
233,768
2,997
4,060
-
1,195,191
982,692
186,710
2,961
22,828
-
425,145
162,349
230,719
5,451
26,623
3
316,019
164,163
140,916
5,482
5,458
-
109,116
77,151
21,450
7,384
3,131
-
85,758
68,728
8,825
7,358
847
-
Non-Current Assets
Long-term receivables, net
Long-term investments
Property, plant and equipment - net
Investment property
Others
177,869
198,548
43,325
4,712
129,832
73,325
5,164
120,059
4,047,740
597,769
88,100
3,137,977
223,894
4,880,685
1,311,287
88,043
3,186,088
295,267
1,527,701
884
1,526,328
489
1,278,953
884
1,277,388
681
58,166
10,782
132
35,969
11,283
81,212
22,369
132
47,428
11,283
Total Assets
489,626
482,076
5,722,137
6,075,876
1,952,846
1,594,972
167,282
166,970
154,752
154,752
-
145,519
145,519
-
513,637
484,114
8,364
21,159
596,828
513,767
65,456
17,605
253,768
253,768
-
154,847
154,847
-
35,314
35,314
-
32,142
32,142
-
Non-Current Liabilities
Bonds payable
Loans and advances payable
Provision for estimated liabilities
Deferred credits
Others
6,566
6,566
-
5,965
5,965
-
1,714,570
1,781,045
1,353,738
360,832
1,348,841
1,320,154
28,687
1,781,045
-
1,558,025
1,558,025
-
264,931
1,117
263,814
264,010
3,737
1,146
259,127
Total Liabilities
161,318
151,484
2,228,207
1,945,669
2,034,813
1,712,872
300,245
296,152
Equity
328,308
330,592
3,493,930
4,130,207
(132,963)
(129,182)
489,626
482,076
5,722,137
6,075,876
167,282
166,970
165
(81,967)
1,952,846
(117,900)
1,594,972
Cluster 4
Summary Balance Sheet
December 31, 2013
(With corresponding figures for 2012)
(In thousand pesos)
NORTHRAIL
PPMC
2013
2012
8,543,767
2,311,266
187,399
137
6,044,226
739
7,476,318
1,237,040
198,635
284
6,039,393
966
39,994
25,708
10,104
945
3,237
-
98,668
74,799
19,636
1,586
2,647
-
857,482
425,249
426,072
19
6,142
-
719,330
263,734
339,996
97
115,503
-
Non-Current Assets
Long-term receivables, net
Long-term investments
Property, plant and equipment - net
Investment property
Others
13,747,998
13,175
773,564
17,637
12,943,622
14,471,564
13,175
1,662,887
23,571
12,771,931
57,199
15,015
23,079
19,105
56,585
15,015
22,645
18,925
4,618,401
2,276
692,249
3,920,645
3,231
Total Assets
22,291,765
21,947,882
97,193
155,253
432,630
432,630
-
403,274
403,274
-
17,985
15,075
2,910
Non-Current Liabilities
Bonds payable
Loans and advances payable
Provision for estimated liabilities
Deferred credits
Others
21,282,154
20,505,400
15,549,901
3,920,462
1,811,791
Total Liabilities
Equity
Total Liabilities and Equity
2012
2013
NLPCSI
Assets
Current Assets
Cash and cash equivalents
Short term investments
Receivables (net)
Inventories, net
Prepayments and deferred charges
Others
2013
CEZA
2012
2013
2012
42,079
10,479
31,600
-
41,589
41,589
-
3,983,715
2,276
687,249
3,290,959
3,231
5,475,883
4,703,045
42,079
41,589
76,072
74,403
1,669
285,567
283,616
1,951
149,859
147,927
1,932
3,206
3,141
65
6,334
6,269
65
14,737,750
3,955,859
1,811,791
18,437
18,437
-
18,437
18,437
-
2,091
2,091
-
2,762
2,762
-
21,714,784
20,908,674
36,422
94,509
287,658
152,621
3,206
6,334
576,981
1,039,208
60,771
60,744
5,188,225
4,550,424
38,873
35,255
22,291,765
21,947,882
97,193
155,253
5,475,883
4,703,045
42,079
41,589
166
Cluster 4
Summary Balance Sheet
December 31, 2013
(With corresponding figures for 2012)
(In thousand pesos)
CAAP
2013
Assets
Current Assets
Cash and cash equivalents
Short term investments
Receivables (net)
Inventories, net
Prepayments and deferred charges
Others
MCIAA
2012
MIAA
2013
2012
2013
NDC
2012
2013
2012
12,410,347
9,424,631
2,715,923
23,414
246,379
-
2,955,750
835,435
79,904
1,959,860
3,813
76,738
2,429,191
796,483
58,043
1,498,127
2,533
74,005
10,159,140
5,183,014
1,572,728
24,412
2,872,723
506,263
9,864,695
4,890,163
1,564,549
20,810
2,879,727
509,446
13,105,851
5,389,743
7,708,356
4,625
3,127
14,792,450
4,140,864
10,648,459
3,127
2,306,016
2,050,387
162,771
26,238
66,620
-
2,011,268
1,774,372
129,572
31,829
75,495
-
12,571,606
9,953,106
8,442,402
2,967,340
5,053,035
3,053
5,046,439
3,543
4,517,655
3,053
4,511,029
3,573
19,679,167
5,475,062
8,400,958
2,639,789
5,761,169
12,505
14,675,618
49,129
4,941,915
19,833,131
138,006
12,505
14,688,540
52,165
4,941,915
21,548,253
23,193,408
7,359,051
6,528,923
32,250,773
32,243,478
13,114,890
12,293,886
2,681,497
2,669,790
11,707
6,322,484
6,314,974
7,510
280,129
241,701
38,428
290,552
247,887
42,665
4,253,180
2,973,496
871,812
407,872
4,936,840
3,623,843
917,549
395,448
4,609,588
666,699
3,873,470
69,419
4,451,229
599,926
3,786,272
65,031
Non-Current Liabilities
Bonds payable
Loans and advances payable
Provision for estimated liabilities
Deferred credits
Others
147,922
52,365
95,557
63,755
52,030
11,725
7,369,069
7,068,862
299,773
434
8,478,073
8,402,834
74,804
435
3,920,315
3,500,000
308,099
112,216
3,959,014
3,500,000
308,099
150,915
2,829,419
6,386,239
280,129
290,552
11,622,249
13,414,913
8,529,903
8,410,243
Equity
18,718,834
16,807,169
7,078,922
6,238,371
20,628,524
18,828,565
4,584,987
3,883,643
21,548,253
23,193,408
7,359,051
6,528,923
32,250,773
32,243,478
13,114,890
12,293,886
Non-Current Assets
Long-term receivables, net
Long-term investments
Property, plant and equipment - net
Investment property
Others
Total Assets
Total Liabilities
167
2,036,608
29,105
552,787
Cluster 4
Summary Balance Sheet
December 31, 2013
(With corresponding figures for 2012)
(In thousand pesos)
BLCI
2013
FCIEI
2012
2013
GYREI
2012
2013
IIGSI
2012
2013
2012
Assets
Current Assets
Cash and cash equivalents
Short term investments
Receivables (net)
Inventories, net
Prepayments and deferred charges
Others
35,895
35,718
154
23
-
32,274
32,035
239
-
8,781
6,539
2,242
-
10,267
7,974
2,293
-
124,284
4,404
119,880
-
135,691
2,526
133,165
-
113
113
-
113
113
-
Non-Current Assets
Long-term receivables, net
Long-term investments
Property, plant and equipment - net
Investment property
Others
34,017
35
19
33,963
-
35,289
41
40
35,208
-
1,166
1,166
135
135
9,105
9,086
19
9,086
9,086
-
18,651
18,651
-
16,920
16,920
-
Total Assets
69,912
67,563
9,947
10,402
133,389
144,777
18,764
17,033
13,135
13,135
-
22,401
22,401
-
12,628
12,628
-
11,229
11,229
-
1,313
1,313
-
2,496
2,496
-
74,164
74,164
-
74,061
74,061
-
Non-Current Liabilities
Bonds payable
Loans and advances payable
Provision for estimated liabilities
Deferred credits
Others
Total Liabilities
13,135
22,401
12,628
11,229
1,313
2,496
74,164
74,061
Equity
56,777
45,162
(2,681)
132,076
142,281
(55,400)
(57,028)
69,912
67,563
9,947
133,389
144,777
18,764
17,033
168
(827)
10,402
Cluster 4
Summary Balance Sheet
December 31, 2013
(With corresponding figures for 2012)
(In thousand pesos)
KRC
2013
MGC
2012
2013
NPIC
2012
2013
PRC
2012
2013
2012
Assets
Current Assets
Cash and cash equivalents
Short term investments
Receivables (net)
Inventories, net
Prepayments and deferred charges
Others
8,850
8,790
16
44
-
12,269
7,364
4,905
-
136,177
132,938
3,017
222
-
142,247
138,977
3,048
222
-
53,398
53,349
49
-
53,412
53,399
13
-
1,575
1,572
3
-
1,502
1,496
6
-
Non-Current Assets
Long-term receivables, net
Long-term investments
Property, plant and equipment - net
Investment property
Others
6,252
6,252
-
6,252
6,252
-
178,235
18,764
1
158,575
895
176,531
17,033
1
158,612
885
6,575
6,575
-
6,575
6,575
-
2,252
2,252
-
2,252
2,252
-
15,102
18,521
314,412
318,778
59,973
59,987
3,827
3,754
2,232
2,195
37
1,770
1,723
47
1,703
1,703
-
3,052
3,052
-
17
17
-
51
51
-
129
128
1
131
129
2
Non-Current Liabilities
Bonds payable
Loans and advances payable
Provision for estimated liabilities
Deferred credits
Others
2,303
1,813
490
2,303
1,813
490
2,232
1,770
1,703
3,052
2,320
2,354
129
131
Equity
12,870
16,751
312,709
315,726
57,653
57,633
3,698
3,623
15,102
18,521
314,412
318,778
59,973
59,987
3,827
3,754
Total Assets
Total Liabilities
169
Cluster 4
Summary Balance Sheet
December 31, 2013
(With corresponding figures for 2012)
(In thousand pesos)
PADC
2013
PEZA
2012
98,456
25,586
8,029
64,841
-
3,586,834
2,592,154
892,978
14,390
87,281
31
2,666,737
1,820,590
746,476
14,938
84,702
31
984,483
181,265
780,485
6,377
16,356
-
898,322
27,726
847,976
6,505
16,115
-
429,182
299,298
89,573
29,183
11,128
-
602,582
572,558
28,614
1,410
-
29,108
4,959
14,453
9,696
33,646
191
4,959
14,526
13,970
2,384,298
2,349,094
35,204
2,472,343
2,437,204
35,139
11,467,637
261,751
569,204
10,442,198
194,484
8,859,332
261,969
557,770
7,848,246
191,347
100,049
100,000
49
-
64
64
-
120,824
132,102
5,971,132
5,139,080
12,452,120
9,757,654
529,231
602,646
20,852
20,852
-
18,512
18,512
-
1,443,440
1,115,924
9,812
317,704
1,238,419
913,949
11,080
313,390
8,860,409
8,860,409
-
8,581,897
8,581,897
-
16,781
16,781
-
97,955
97,955
-
Non-Current Liabilities
Bonds payable
Loans and advances payable
Provision for estimated liabilities
Deferred credits
Others
11,506
5,701
5,805
-
9,488
5,612
3,876
-
274,706
122,654
152,052
-
314,508
149,577
164,931
-
3,461,315
3,461,315
-
2,700,834
2,686,988
13,846
-
Total Liabilities
32,358
28,000
1,718,146
1,552,927
12,321,724
11,282,731
16,781
97,955
Equity
88,466
104,102
4,252,986
3,586,153
130,396
(1,525,077)
512,450
504,691
120,824
132,102
5,971,132
5,139,080
12,452,120
9,757,654
529,231
602,646
91,716
28,997
9,408
53,043
268
-
Non-Current Assets
Long-term receivables, net
Long-term investments
Property, plant and equipment - net
Investment property
Others
Total Assets
170
2013
ASDI
2013
Assets
Current Assets
Cash and cash equivalents
Short term investments
Receivables (net)
Inventories, net
Prepayments and deferred charges
Others
2012
PNCC
2012
2013
2012
Cluster 4
Summary Balance Sheet
December 31, 2013
(With corresponding figures for 2012)
(In thousand pesos)
CDCP-FC
2013
DCBGSI
2012
2013
TFC
2012
2013
TCPC
2012
2013
2012
Assets
Current Assets
Cash and cash equivalents
Short term investments
Receivables (net)
Inventories, net
Prepayments and deferred charges
Others
1,059
409
650
-
1,096
408
688
-
222,215
149,682
62,425
3,568
6,540
-
219,997
157,715
54,048
2,680
5,554
-
42
42
62
20
42
4,743
361
1,099
271
3,012
-
9,265
1,384
1,128
3,696
3,057
-
Non-Current Assets
Long-term receivables, net
Long-term investments
Property, plant and equipment - net
Investment property
Others
11,379
11,379
-
11,379
11,379
-
15,849
930
13,016
1,903
15,173
930
12,631
1,612
2,951
627
2,324
2,951
627
2,324
1,207
560
647
1,993
1,313
680
Total Assets
12,438
12,475
238,064
235,170
2,993
3,013
5,950
11,258
33,647
33,647
-
33,654
33,654
-
21,867
21,867
-
18,978
18,978
-
233
233
-
50
50
-
3,747
3,645
102
3,773
3,637
136
Non-Current Liabilities
Bonds payable
Loans and advances payable
Provision for estimated liabilities
Deferred credits
Others
175,246
175,246
-
172,108
172,108
-
55,463
55,463
-
55,463
55,463
-
56,757
56,757
-
60,457
60,457
-
33,647
33,654
197,113
191,086
55,696
55,513
60,504
64,230
(21,209)
(21,179)
40,951
44,084
(52,703)
(52,500)
(54,554)
(52,972)
12,438
12,475
238,064
235,170
2,993
3,013
5,950
11,258
Total Liabilities
Equity
Total Liabilities and Equity
171
Cluster 4
Summary Balance Sheet
December 31, 2013
(With corresponding figures for 2012)
(In thousand pesos)
PRA
PEATC
2013
2012
Assets
Current Assets
Cash and cash equivalents
Short term investments
Receivables (net)
Inventories, net
Prepayments and deferred charges
Others
2013
9,802,504
6,481,642
2,429,683
885,449
4,187
1,543
8,636,730
3,856,836
3,290,838
1,477,433
10,070
1,553
235,451
228,410
7,041
-
Non-Current Assets
Long-term receivables, net
Long-term investments
Property, plant and equipment - net
Investment property
Others
23,683,300
10,341,887
535,631
112,259
9,641,904
3,051,619
24,586,941
11,451,266
539,857
116,722
9,641,904
2,837,192
Total Assets
33,485,804
SBMA
2013
2012
2013
2012
204,696
197,009
7,687
-
1,605,464
1,152,799
332,078
112,026
8,561
-
1,066,857
730,872
215,096
111,482
9,407
-
6,246,149
5,550,214
517,467
13,050
165,418
-
5,435,304
4,725,949
536,323
12,778
160,254
-
41,672
34,216
5,838
1,618
41,944
34,131
6,193
1,620
26,483,575
621,161
395,800
25,409,930
56,684
26,953,932
640,525
358,481
25,902,623
52,303
6,167,918
410,036
5,699,441
58,441
5,843,442
250,036
5,584,898
8,508
33,223,671
277,123
246,640
28,089,039
28,020,789
12,414,067
11,278,746
2,773,660
2,591,311
182,349
3,363,921
3,127,521
236,400
11,934
2,279
9,655
10,058
2,089
7,969
1,083,207
700,334
382,873
-
1,344,626
666,534
678,092
-
857,908
857,908
-
724,643
724,643
-
Non-Current Liabilities
Bonds payable
Loans and advances payable
Provision for estimated liabilities
Deferred credits
Others
14,920,939
1,576,230
10,323,464
3,021,245
15,370,069
1,577,802
10,985,449
2,806,818
261,286
261,286
232,842
232,842
10,030,942
7,442,498
2,588,444
-
10,923,197
8,338,726
2,584,471
-
373,726
333,111
40,615
-
460,722
405,145
55,577
-
Total Liabilities
17,694,599
18,733,990
273,220
242,900
11,114,149
12,267,823
1,231,634
1,185,365
Equity
15,791,205
14,489,681
3,903
3,740
16,974,890
15,752,966
11,182,433
10,093,381
33,485,804
33,223,671
277,123
246,640
28,089,039
28,020,789
12,414,067
11,278,746
172
2012
TIEZA
Cluster 4
Summary Balance Sheet
December 31, 2013
(With corresponding figures for 2012)
(In thousand pesos)
CFI
2013
ZCSEZA
2012
2013
SPDA
2012
2013
2012
Assets
Current Assets
Cash and cash equivalents
Short term investments
Receivables (net)
Inventories, net
Prepayments and deferred charges
Others
11,321
9,258
1,778
267
18
-
11,665
8,682
2,534
421
28
-
59,258
52,976
4,727
1,555
-
56,960
51,258
4,216
1,486
-
54,618
16,462
36,301
1,017
639
199
38,308
1,294
35,429
771
639
175
Non-Current Assets
Long-term receivables, net
Long-term investments
Property, plant and equipment - net
Investment property
Others
131,313
131,154
159
92,911
92,866
45
582,928
582,928
-
594,786
594,786
-
90,088
11,212
78,876
-
93,015
11,212
81,535
268
Total Assets
142,634
104,576
642,186
651,746
144,706
131,323
5,408
5,408
-
4,267
4,267
-
9,606
9,606
-
7,762
7,762
-
17,138
17,138
-
18,597
18,597
-
Non-Current Liabilities
Bonds payable
Loans and advances payable
Provision for estimated liabilities
Deferred credits
Others
39
39
-
39
39
-
163
163
-
627
500
127
-
5,408
4,267
9,645
7,801
17,301
19,224
Equity
137,226
100,309
632,541
643,945
127,405
112,099
142,634
104,576
642,186
651,746
144,706
131,323
Total Liabilities
173
Cluster 4
Summary Statement of Income and Expenses
Year ended December 31, 2013
(With corresponding figures for 2012)
(in thousand pesos)
Total
2013
2012
47,066,382
35,958,164
7,769,562
4,515,302
48,243,028
(1,176,646)
47,066,382
42,958,938
33,200,377
6,767,154
3,925,236
43,892,767
(933,829)
42,958,938
25,824,904
134,309
5,325,986
18,382,479
1,571,517
410,613
25,914,645
139,396
5,255,233
18,093,404
1,861,237
565,375
21,241,478
17,044,293
361,776
323,008
21,603,254
17,367,301
(3,574,096)
(2,269,844)
18,029,158
15,097,457
18,013,834
15,111,477
Notes
Income
Business and service income
Gains and premiums
Others
15
16
174
17
18
19
Cluster 4
Summary Statement of Income and Expenses
Year ended December 31, 2013
(With corresponding figures for 2012)
(in thousand pesos)
AFAB
2013
Income
Business and service income
Gains and premiums
Others
APECO
2012
2013
BCDA
2012
BTPI
2013
2012
2013
2012
823,967
806,200
482
17,285
823,967
823,967
857,558
839,454
18,104
857,558
857,558
779
396
383
779
779
2,181
2,136
45
2,181
2,181
7,548,691
2,278,144
2,993,150
2,277,397
7,548,691
7,548,691
8,281,618
1,649,609
4,755,427
1,876,582
8,281,618
8,281,618
1,813
1,810
3
1,813
1,813
8,229
8,229
8,229
8,229
Expenses
Business expenses
Personal services
Maintenance and other operating expenses
Financial expenses
Others
816,437
61,347
752,061
3,029
-
832,319
57,398
766,871
8,048
2
64,338
21,765
42,512
61
-
60,597
17,136
43,456
5
-
3,745,372
246,798
3,028,768
467,722
2,084
3,275,405
233,611
2,453,582
588,209
3
37,378
7,564
29,814
-
52,726
8,865
43,854
7
7,530
25,239
(63,559)
(58,416)
3,803,319
5,006,213
(35,565)
(44,497)
76,000
55,000
137,556
152,844
7,530
25,239
12,441
(3,416)
3,940,875
5,159,057
(35,565)
(44,497)
7,530
25,239
12,441
(3,416)
(35,565)
(44,497)
175
(48,908)
3,891,967
(46,436)
5,112,621
Cluster 4
Summary Statement of Income and Expenses
Year ended December 31, 2013
(With corresponding figures for 2012)
(in thousand pesos)
BMHI
2013
Income
Business and service income
Gains and premiums
Others
CDC
2012
CIAC
2013
2012
2013
JHMC
2012
2013
2012
62,417
49,177
13,240
62,417
62,417
60,669
46,114
14,555
60,669
60,669
1,303,999
1,212,744
17,557
73,698
1,303,999
1,303,999
1,181,930
1,119,044
62,886
1,181,930
1,181,930
569,151
539,874
29,277
569,151
569,151
516,138
499,581
16,557
516,138
516,138
79,067
78,365
459
243
79,067
79,067
71,275
71,062
213
71,275
71,275
Expenses
Business expenses
Personal services
Maintenance and other operating expenses
Financial expenses
Others
59,573
42,579
11,796
5,198
-
51,520
37,120
10,039
4,361
-
947,033
574,616
372,363
54
-
972,990
599,361
370,662
45
2,922
529,508
212,931
301,757
14,820
-
523,480
200,844
300,487
22,149
-
74,686
21,407
53,276
3
-
64,117
22,488
41,242
3
384
2,844
9,149
356,966
208,940
39,643
(7,342)
4,381
7,158
2,844
9,149
(7,342)
4,381
7,158
(1,345)
3,036
7,158
(236)
2,608
(181)
8,968
356,966
208,940
39,643
(25,229)
(21,657)
(1,763)
331,737
187,283
37,880
176
(621)
(7,963)
Cluster 4
Summary Statement of Income and Expenses
Year ended December 31, 2013
(With corresponding figures for 2012)
(in thousand pesos)
NORTHRAIL
2013
PPMC
2012
2013
CEZA
2012
2013
NLPCSI
2012
2013
2012
190,272
171,498
18,774
190,272
190,272
18,534
6
18,528
18,534
18,534
66,259
66,108
151
66,259
66,259
69,628
69,243
385
69,628
69,628
492,963
445,741
5,118
42,104
492,963
492,963
335,699
310,948
24,751
335,699
335,699
520
520
520
520
151
151
151
151
Expenses
Business expenses
Personal services
Maintenance and other operating expenses
Financial expenses
Others
90,925
35,002
55,725
3
195
76,462
40,247
28,062
8,153
69,215
21,977
40,759
6,479
72,273
22,736
43,466
6,071
209,862
25,594
184,266
2
-
227,264
22,806
196,838
160
7,460
30
20
10
-
11
11
99,347
(57,928)
(2,956)
(2,645)
283,101
108,435
490
140
Subsidy income
38,914
11,361
306
1,811
138,261
(46,567)
(2,956)
(2,645)
283,407
110,246
490
140
(1,322)
(1,386)
(83,069)
(37,650)
(46,567)
(4,278)
(4,031)
200,338
72,596
490
140
Income
Business and service income
Gains and premiums
Others
138,261
177
Cluster 4
Summary Statement of Income and Expenses
Year ended December 31, 2013
(With corresponding figures for 2012)
(in thousand pesos)
CAAP
MCIAA
MIAA
2013
2012
2013
2012
5,029,371
4,944,663
19,853
64,855
5,029,371
5,029,371
4,686,177
4,599,955
86,222
4,686,177
4,686,177
1,514,690
1,485,800
7,133
21,757
1,514,690
1,514,690
1,482,340
1,444,703
630
37,007
1,482,340
1,482,340
8,525,591
8,701,512
821,567
179,158
9,702,237
(1,176,646)
8,525,591
8,003,938
8,276,461
471,921
189,385
8,937,767
(933,829)
8,003,938
846,471
748,641
75,592
22,238
846,471
846,471
826,425
763,918
22,899
39,608
826,425
826,425
Expenses
Business expenses
Personal services
Maintenance and other operating expenses
Financial expenses
Others
2,944,059
1,445,868
1,497,087
1,104
-
2,760,470
1,352,604
1,281,230
1,148
125,488
885,184
307,889
574,833
10
2,452
1,335,104
240,069
1,092,934
64
2,037
4,636,335
680,650
3,553,533
361,548
40,604
4,537,815
695,672
3,416,862
425,281
-
355,888
21,691
76,227
254,571
3,399
489,568
21,181
79,738
303,587
85,062
2,085,312
1,925,707
629,506
147,236
3,889,256
3,466,123
490,583
336,857
Income
Business and service income
Gains and premiums
Others
Subsidy income
Net income (loss) before tax
Income Tax Expense
NET INCOME (LOSS) AFTER TAX
2,085,312
2,085,312
1,925,707
1,925,707
2013
NDC
629,506
147,236
(108,920)
(55,950)
520,586
91,286
178
2012
3,889,256
(955,133)
2,934,123
2013
3,466,123
(825,564)
2,640,559
2012
490,583
(6,577)
484,006
336,857
(6,307)
330,550
Cluster 4
Summary Statement of Income and Expenses
Year ended December 31, 2013
(With corresponding figures for 2012)
(in thousand pesos)
BLCI
2013
Income
Business and service income
Gains and premiums
Others
FCIEI
2012
2013
GYREI
2012
2013
IIGSI
2012
2013
108,693
16,685
90,989
1,019
108,693
108,693
17,986
17,264
722
17,986
17,986
794
794
794
794
865
865
865
865
4,567
4,567
4,567
4,567
4,563
4,563
4,563
4,563
Expenses
Business expenses
Personal services
Maintenance and other operating expenses
Financial expenses
Others
3,808
893
2,865
50
-
6,016
806
5,194
16
-
2,655
430
936
1,289
-
2,418
408
771
1,239
-
12,889
59
12,830
-
104,885
11,970
(1,861)
(1,553)
104,885
11,970
(31,166)
(3,380)
73,719
8,590
2012
1
-
1
-
1
1
-
1
1
-
13,102
54
13,048
-
96
96
-
32
32
-
(8,322)
(8,539)
(95)
(31)
(1,861)
(1,553)
(8,322)
(8,539)
(95)
(31)
(13)
(13)
(91)
(91)
(1,874)
(1,566)
(8,413)
(8,630)
(95)
(31)
179
Cluster 4
Summary Statement of Income and Expenses
Year ended December 31, 2013
(With corresponding figures for 2012)
(in thousand pesos)
KRC
2013
Income
Business and service income
Gains and premiums
Others
MGC
2012
2013
NPIC
2012
2013
PRC
2012
2013
2012
5,135
5,135
5,135
5,135
6,073
6,073
6,073
6,073
1,805
1,805
1,805
1,805
5,017
5,017
5,017
5,017
947
947
947
947
1,610
1,610
1,610
1,610
1,809
1,809
1,809
1,809
1,830
1,830
1,830
1,830
Expenses
Business expenses
Personal services
Maintenance and other operating expenses
Financial expenses
Others
2,820
59
2,753
8
-
2,063
54
2,006
3
-
6,457
370
6,047
40
-
7,148
356
6,607
154
31
946
582
315
49
-
980
558
382
40
-
271
58
212
1
-
396
54
341
1
-
2,315
4,010
630
1,538
1,434
(2,131)
-
(4,652)
-
2,315
4,010
(4,652)
(2,131)
1,538
1,434
(1,169)
2,841
(4,652)
(2,131)
Subsidy income
Net income (loss) before tax
Income Tax Expense
NET INCOME (LOSS) AFTER TAX
(652)
1,663
180
630
-
630
(455)
1,083
(417)
1,017
Cluster 4
Summary Statement of Income and Expenses
Year ended December 31, 2013
(With corresponding figures for 2012)
(in thousand pesos)
PADC
2013
Income
Business and service income
Gains and premiums
Others
PEZA
2012
PNCC
2013
2012
2013
ASDI
2012
2013
2012
52,062
17,169
195
34,698
52,062
52,062
46,465
13,667
32,798
46,465
46,465
7,979,394
6,943,302
32,448
1,003,644
7,979,394
7,979,394
7,581,352
6,672,623
9,846
898,883
7,581,352
7,581,352
2,751,887
147,631
2,600,138
4,118
2,751,887
2,751,887
139,612
116,170
4,472
18,970
139,612
139,612
12,253
12,253
12,253
12,253
91,952
74,892
17,060
91,952
91,952
Expenses
Business expenses
Personal services
Maintenance and other operating expenses
Financial expenses
Others
46,534
17,291
13,745
15,498
-
39,392
16,563
11,514
11,315
-
6,501,079
501,834
5,989,988
7,242
2,015
6,504,596
511,056
5,986,990
6,527
23
332,080
36,706
37,366
258,008
-
350,857
44,162
48,654
258,037
4
2,042
1,100
571
371
-
2,802
1,311
1,289
202
-
5,528
7,073
1,478,315
1,076,756
2,419,807
(211,245)
10,211
89,150
5,528
7,073
10,211
89,150
(2,451)
(25,039)
7,760
64,111
(1,556)
3,972
(591)
6,482
1,478,315
(441,395)
1,036,920
181
1,076,756
(336,516)
740,240
2,419,807
(778,186)
1,641,621
(211,245)
(211,245)
Cluster 4
Summary Statement of Income and Expenses
Year ended December 31, 2013
(With corresponding figures for 2012)
(in thousand pesos)
CDCP - FC
2012
(as restated)
2013
Income
Business and service income
Gains and premiums
Others
DCBGSI
2013
Expenses
Business expenses
Personal services
Maintenance and other operating expenses
Financial expenses
Others
31
31
-
48
48
-
75,946
62,275
11,501
2,170
-
83,911
71,900
8,437
3,436
138
-
28
28
-
(30)
(47)
(3,133)
10,199
(28)
Subsidy income
(30)
(47)
(3,133)
10,199
(30)
(47)
(3,133)
10,199
1
1
1
1
-
182
TCPC
2012
2012
72,813
72,375
438
72,813
72,813
2013
TFC
94,110
93,104
1,006
94,110
94,110
2013
1
1
1
1
1
-
(28)
(28)
1
1
2012
1,371
313
1,056
2
1,371
1,371
506
396
104
6
506
506
2,583
257
1,764
561
1
-
2,795
326
1,839
628
2
(1,212)
(2,289)
(1,212)
(2,289)
(1,212)
(2,289)
Cluster 4
Summary Statement of Income and Expenses
Year ended December 31, 2013
(With corresponding figures for 2012)
(in thousand pesos)
PRA
PEATC
2013
2012
3,710,313
3,636,093
21
74,199
3,710,313
3,710,313
3,236,438
3,161,883
74,555
3,236,438
3,236,438
Expenses
Business expenses
Personal services
Maintenance and other operating expenses
Financial expenses
Others
202,717
110,316
87,141
5,260
-
177,411
88,271
85,248
3,892
-
3,507,596
3,059,027
Income
Business and service income
Gains and premiums
Others
3,507,596
(1,030,231)
2,477,365
2013
3,059,027
(895,563)
2,163,464
183
SBMA
2012
TIEZA
2013
2012
2013
2012
163
163
163
163
163
163
163
163
2,954,140
1,629,367
888,102
436,671
2,954,140
2,954,140
3,012,150
1,365,608
1,346,264
300,278
3,012,150
3,012,150
2,304,091
2,092,198
42,651
169,242
2,304,091
2,304,091
2,268,103
2,016,550
78,821
172,732
2,268,103
2,268,103
1,788,292
388,789
862,968
183,291
353,244
2,201,222
641,432
1,007,393
226,068
326,329
1,215,165
11,907
497,364
692,936
12,958
-
1,031,922
13,487
336,353
664,944
16,148
990
163
163
1,165,848
810,928
1,088,926
1,236,181
163
163
163
163
1,165,848
(55,398)
1,110,450
810,928
(11,313)
799,615
1,088,926
1,088,926
1,236,181
1,236,181
Cluster 4
Summary Statement of Income and Expenses
Year ended December 31, 2013
(With corresponding figures for 2012)
(in thousand pesos)
25 TRANSMITTED AARs
9 draft
CFI
2013
Income
Business and service income
Gains and premiums
Others
SPDA
ZCSEZA
2012
2013
2012
2013
2012
23,552
23,208
71
273
23,552
23,552
24,935
24,445
490
24,935
24,935
18,883
18,883
18,883
18,883
17,827
17,827
17,827
17,827
5,687
1,765
1,482
2,440
5,687
5,687
4,888
377
1,878
2,633
4,888
4,888
Expenses
Business expenses
Personal services
Maintenance and other operating expenses
Financial expenses
Others
32,586
4,427
28,018
141
31,281
4,707
26,178
396
80,693
31,801
48,892
-
76,832
33,413
43,419
-
49,363
27,273
22,068
22
-
47,300
25,391
21,836
73
-
(9,034)
(6,346)
(61,810)
(59,005)
(43,676)
(42,412)
24,500
50,000
49,100
59,000
28,392
(9,034)
18,154
(11,810)
(9,905)
15,324
(14,020)
(9,034)
18,154
(11,810)
(9,905)
15,324
(14,020)
Subsidy income
Net income (loss) before tax
Income Tax Expense
NET INCOME (LOSS) AFTER TAX
184
Cluster 4
Summary Statement of Changes in Equity
Period Ended December 31, 2013
(with corresponding figures for 2012)
(in thousand pesos)
Total
Note
2013
2012
95,703,686
97,502,337
Government equity
Balance, beginning of period
Additions/deductions
76,223
(1,798,651)
95,779,909
95,703,686
55,398,407
61,435,964
Share capital
Balance, beginning of period
Additions/deductions
383,315
(6,037,557)
55,781,722
55,398,407
3,413
3,115
143
298
3,556
3,413
2,899,283
3,127,009
Contingent capital
Balance, beginning of period
Additions/deductions
Balance, end of period
Invested capital
Balance, beginning of period
Additions/deductions
(227,726)
2,899,283
2,899,283
590,129
614,795
13,527
(24,666)
603,656
590,129
150,579
150,579
Appraisal increment
Balance, beginning of period
Additions/deductions
Balance, end of period
Donated capital
Balance, beginning of period
Additions/deductions
150,579
150,579
15,000
15,000
15,000
15,000
32,574,730
17,607,066
Additions/deductions
14,327,189
14,967,664
46,901,919
32,574,730
13
185
Cluster 4
Summary Statement of Changes in Equity
Period Ended December 31, 2013
(with corresponding figures for 2012)
(in thousand pesos)
Total
Note
2012
2013
Restricted capital
Balance, beginning of period
307
307
Additions/deductions
307
307
1,558,754
1,540,511
(700,220)
186
18,243
858,534
1,558,754
202,994,465
188,894,288
Cluster 4
Summary Statement of Changes in Equity
Period Ended December 31, 2013
(with corresponding figures for 2012)
(in thousand pesos)
AFAB
APECO
2012
2013
BCDA
2012
2013
BTPI
2012
2013
2012
2013
Government equity
Balance, beginning of period
951,923
901,676
659,194
573,827
92,964
50,247
80,114
85,367
77,269,614
(1,934,265)
1,044,887
951,923
739,308
659,194
75,245,278
75,335,349
Additions/deductions
100,000
100,000
100,000
100,000
Additions/deductions
Additions/deductions
Additions/deductions
Additions/deductions
Balance, end of period
Additions/deductions
Balance, end of period
75,335,349
(90,071)
Share capital
Contingent capital
Invested capital
Appraisal increment
Donated capital
187
Cluster 4
Summary Statement of Changes in Equity
Period Ended December 31, 2013
(with corresponding figures for 2012)
(in thousand pesos)
AFAB
APECO
2012
2013
BCDA
2012
2013
BTPI
2012
2013
2012
2013
(118,224)
14,815
18,663
12,508,288
6,395,579
(572,695)
(516,642)
51,798
7,957
(3,848)
3,262,955
6,112,709
(37,728)
(56,053)
(66,426)
22,772
14,815
15,771,243
12,508,288
(610,423)
(572,695)
(66,426)
313
(66,113)
Restricted capital
Balance, beginning of period
Additions/deductions
Additions/deductions
978,774
885,497
762,080
674,009
91,016,521
87,843,637
TOTAL EQUITY
See notes to summary financial statements
521
188
(510,423)
(472,695)
Cluster 4
Summary Statement of Changes in Equity
Period Ended December 31, 2013
(with corresponding figures for 2012)
(in thousand pesos)
BMHI
CDC
2012
2013
CIAC
2012
2013
JHMC
2012
2013
2,012
2013
Government equity
Balance, beginning of period
Additions/deductions
280,000
280,000
2,813,507
2,813,507
1,250
1,250
120,000
120,000
280,000
280,000
2,813,507
2,813,507
1,250
1,250
120,000
120,000
Share capital
Balance, beginning of period
Additions/deductions
Balance, end of period
Contingent capital
Balance, beginning of period
Additions/deductions
Additions/deductions
Additions/deductions
Additions/deductions
Balance, end of period
Invested capital
Appraisal increment
Donated capital
189
Cluster 4
Summary Statement of Changes in Equity
Period Ended December 31, 2013
(with corresponding figures for 2012)
(in thousand pesos)
BMHI
CDC
2012
2013
CIAC
2012
2013
JHMC
2012
2013
2,012
2013
Government
Equity in jointequity
venture
Balance, beginning of period
50,592
47,543
612,175
596,713
(951,398)
(938,771)
(249,182)
Additions/deductions
(2,284)
3,049
68,248
15,462
35,933
(12,627)
(3,781)
48,308
50,592
680,423
612,175
(915,465)
(951,398)
(252,963)
Additions/deductions
Additions/deductions
Balance, end of period
Retained earnings (deficit)
(281,822)
32,640
(249,182)
Restricted capital
704,525
689,238
832,248
832,248
Additions/deductions
(704,525)
15,287
704,525
832,248
832,248
328,308
330,592
3,493,930
4,130,207
(81,967)
(117,900)
TOTAL EQUITY
See notes to summary financial statements
190
(132,963)
(129,182)
Cluster 4
Summary Statement of Changes in Equity
Period Ended December 31, 2013
(with corresponding figures for 2012)
(in thousand pesos)
NORTHRAIL
PPMC
2,012
2013
CEZA
2,012
2013
NLPCSI
2012
2013
2012
2013
Government equity
Balance, beginning of period
33,456
Additions/deductions
(7,115)
33,456
26,341
33,456
100,000
100,000
80,000
80,000
4,202,656
3,908,708
40,000
40,000
546,806
293,948
100,000
100,000
80,000
80,000
4,749,462
4,202,656
40,000
40,000
Share capital
Balance, beginning of period
Additions/deductions
Balance, end of period
Contingent capital
Balance, beginning of period
Additions/deductions
Additions/deductions
Additions/deductions
Additions/deductions
Balance, end of period
Invested capital
Appraisal increment
Donated capital
191
Cluster 4
Summary Statement of Changes in Equity
Period Ended December 31, 2013
(with corresponding figures for 2012)
(in thousand pesos)
NORTHRAIL
PPMC
2,012
2013
CEZA
2,012
2013
NLPCSI
2012
2013
2012
2013
Government
Equity in jointequity
venture
Balance, beginning of period
Additions/deductions
Balance, end of period
15,000
15,000
15,000
15,000
939,208
372,609
(56,237)
(47,665)
314,312
288,378
(4,745)
(462,227)
566,599
(4,278)
(8,572)
98,110
25,934
3,618
476,981
939,208
(60,515)
(56,237)
412,422
314,312
(1,127)
Additions/deductions
21,981
19,025
Additions/deductions
4,305
2,956
26,286
21,981
576,981
1,039,208
60,771
60,744
5,188,225
4,550,424
38,873
35,255
Additions/deductions
Balance, end of period
(4,885)
140
(4,745)
Restricted capital
TOTAL EQUITY
See notes to summary financial statements
192
Cluster 4
Summary Statement of Changes in Equity
Period Ended December 31, 2013
(with corresponding figures for 2012)
(in thousand pesos)
CAAP
MCIAA
2012
2013
MIAA
2012
2013
NDC
2012
2013
2012
2013
Government equity
Balance, beginning of period
7,191,934
7,191,934
8,602,803
Additions/deductions
8,602,803
-
7,191,934
7,191,934
8,602,803
8,602,803
13,750,091
20,081,596
1,724,121
1,724,121
Share capital
Balance, beginning of period
Additions/deductions
Balance, end of period
(163,491)
(6,331,505)
13,586,600
13,750,091
1,724,121
1,724,121
3,413
3,115
Additions/deductions
143
298
3,556
3,413
2,867,516
2,867,516
Additions/deductions
2,867,516
2,867,516
28,883
28,883
Contingent capital
Invested capital
Appraisal increment
Balance, beginning of period
Additions/deductions
28,883
28,883
221
221
112,740
112,740
Additions/deductions
Balance, end of period
221
221
112,740
112,740
Donated capital
193
Cluster 4
Summary Statement of Changes in Equity
Period Ended December 31, 2013
(with corresponding figures for 2012)
(in thousand pesos)
CAAP
MCIAA
2012
2013
MIAA
2012
2013
NDC
2012
2013
2012
2013
Government
Equity in jointequity
venture
Balance, beginning of period
3,057,078
2,503,327
1,643,321
1,601,265
11,636,410
10,276,110
Additions/deductions
2,075,156
553,751
840,408
42,056
1,799,959
1,360,300
5,132,234
3,057,078
2,483,729
1,643,321
13,436,369
11,636,410
Additions/deductions
Additions/deductions
18,718,834
16,807,169
7,078,922
6,238,371
20,628,524
18,828,565
4,584,987
3,883,643
Additions/deductions
Balance, end of period
Retained earnings (deficit)
(4,860,783)
701,344
(4,159,439)
(7,295,295)
2,434,512
(4,860,783)
Restricted capital
TOTAL EQUITY
See notes to summary financial statements
194
Cluster 4
Summary Statement of Changes in Equity
Period Ended December 31, 2013
(with corresponding figures for 2012)
(in thousand pesos)
BLCI
FCIEI
2012
2013
GYREI
2012
2013
IIGSI
2012
2013
2012
2013
Government equity
Balance, beginning of period
Additions/deductions
36,623
36,623
10,000
10,000
9,086
9,086
4,300
4,300
36,623
36,623
10,000
10,000
9,086
9,086
4,300
4,300
Share capital
Balance, beginning of period
Additions/deductions
Balance, end of period
Contingent capital
Balance, beginning of period
Additions/deductions
Additions/deductions
16,676
16,676
Additions/deductions
1,731
18,407
16,676
Invested capital
Appraisal increment
Donated capital
Balance, beginning of period
Additions/deductions
Balance, end of period
195
Cluster 4
Summary Statement of Changes in Equity
Period Ended December 31, 2013
(with corresponding figures for 2012)
(in thousand pesos)
BLCI
FCIEI
2012
2013
GYREI
2012
2013
IIGSI
2012
2013
2012
2013
Government
Equity in jointequity
venture
Balance, beginning of period
Additions/deductions
Balance, end of period
8,539
9,534
(10,827)
(9,258)
133,195
144,026
(1,854)
(1,569)
(10,205)
(10,831)
(12,681)
(10,827)
122,990
133,195
56,777
45,162
132,076
142,281
Additions/deductions
11,615
(995)
20,154
8,539
Additions/deductions
Additions/deductions
(78,004)
(77,973)
(103)
(31)
(78,107)
(78,004)
Restricted capital
TOTAL EQUITY
See notes to summary financial statements
(2,681)
777
196
(827)
(55,400)
(57,028)
Cluster 4
Summary Statement of Changes in Equity
Period Ended December 31, 2013
(with corresponding figures for 2012)
(in thousand pesos)
KRC
MGC
2012
2013
NPIC
2012
2013
PRC
2012
2013
2012
2013
Government equity
Balance, beginning of period
Additions/deductions
6,733
6,733
120,000
120,000
80,000
80,000
2,252
2,252
6,733
6,733
120,000
120,000
80,000
80,000
2,252
2,252
Additions/deductions
Additions/deductions
158,375
181,430
Additions/deductions
(23,055)
158,375
158,375
Additions/deductions
Balance, end of period
Share capital
Balance, beginning of period
Additions/deductions
Balance, end of period
Contingent capital
Invested capital
Appraisal increment
Donated capital
197
Cluster 4
Summary Statement of Changes in Equity
Period Ended December 31, 2013
(with corresponding figures for 2012)
(in thousand pesos)
KRC
MGC
2012
2013
NPIC
2012
2013
PRC
2012
2013
2012
2013
Government
Equity in jointequity
venture
Balance, beginning of period
10,018
3,763
37,351
109,521
1,371
1,517
Additions/deductions
(3,881)
6,255
(3,017)
(72,170)
6,137
10,018
34,334
37,351
Additions/deductions
Additions/deductions
12,870
16,751
Additions/deductions
Balance, end of period
Retained earnings (deficit)
(22,367)
20
(22,347)
(22,985)
618
(22,367)
75
(146)
1,446
1,371
312,709
315,726
57,653
57,633
3,698
3,623
Restricted capital
TOTAL EQUITY
See notes to summary financial statements
198
Cluster 4
Summary Statement of Changes in Equity
Period Ended December 31, 2013
(with corresponding figures for 2012)
(in thousand pesos)
PADC
2,013
PEZA
PNCC
2,012
2,013
2,012
2,136,008
2,136,008
2,013
ASDI
2,012
2,013
2,012
Government equity
Balance, beginning of period
Additions/deductions
257,667
257,667
7,808,762
7,808,762
500,000
500,000
257,667
257,667
7,808,762
7,808,762
500,000
500,000
Additions/deductions
Additions/deductions
366,216
367,827
2,136,008
2,136,008
Share capital
Balance, beginning of period
Additions/deductions
Balance, end of period
Contingent capital
Invested capital
Appraisal increment
Balance, beginning of period
Additions/deductions
11,796
378,012
366,216
(1,611)
Additions/deductions
Balance, end of period
Donated capital
199
Cluster 4
Summary Statement of Changes in Equity
Period Ended December 31, 2013
(with corresponding figures for 2012)
(in thousand pesos)
PADC
PEZA
2,013
2,012
PNCC
2,013
2,012
ASDI
2,013
2,012
2,013
2,012
Government
Equity in jointequity
venture
Balance, beginning of period
Additions/deductions
Balance, end of period
Retained earnings (deficit)
Balance, beginning of period
Additions/deductions
Balance, end of period
(153,565)
(166,056)
(15,636)
12,491
(169,201)
(153,565)
1,450,145
1,042,643
666,833
407,502
2,116,978
1,450,145
(9,700,055)
1,643,677
(8,056,378)
(9,616,705)
4,691
(20,237)
(83,350)
7,759
24,928
(9,700,055)
12,450
4,691
Restricted capital
Balance, beginning of period
Additions/deductions
Additions/deductions
88,466
104,102
512,450
504,691
TOTAL EQUITY
4,252,986
200
3,586,153
130,396
(1,525,077)
Cluster 4
Summary Statement of Changes in Equity
Period Ended December 31, 2013
(with corresponding figures for 2012)
(in thousand pesos)
CDCP-FC
DCBGSI
TFC
2012
TCPC
2,013
2,012
Additions/deductions
15,120
15,120
97,013
97,013
45,135
45,135
1,000
1,000
15,120
15,120
97,013
97,013
45,135
45,135
1,000
1,000
Additions/deductions
10,299
10,299
2013
2012
2013
2012
2013
Government equity
Share capital
Balance, beginning of period
Additions/deductions
Balance, end of period
Contingent capital
Balance, beginning of period
Additions/deductions
Balance, end of period
Invested capital
Appraisal increment
Balance, beginning of period
Additions/deductions
10,299
10,299
Additions/deductions
Balance, end of period
201
Cluster 4
Summary Statement of Changes in Equity
Period Ended December 31, 2013
(with corresponding figures for 2012)
(in thousand pesos)
CDCP-FC
DCBGSI
TFC
2012
TCPC
2,013
2,012
2013
2012
2013
2012
2013
Government
Equity in jointequity
venture
Balance, beginning of period
Additions/deductions
Balance, end of period
Retained earnings (deficit)
Balance, beginning of period
Additions/deductions
Balance, end of period
(46,598)
(30)
(46,628)
(46,635)
37
(46,598)
(52,929)
(62,244)
(3,133)
9,315
(56,062)
(52,929)
(97,635)
(97,412)
(53,972)
(51,291)
(203)
(223)
(1,582)
(2,681)
(97,838)
(97,635)
(55,554)
(53,972)
Restricted capital
Balance, beginning of period
Additions/deductions
Additions/deductions
40,951
44,084
TOTAL EQUITY
(21,209)
(21,179)
202
(52,703)
(52,500)
(54,554)
(52,972)
Cluster 4
Summary Statement of Changes in Equity
Period Ended December 31, 2013
(with corresponding figures for 2012)
(in thousand pesos)
PRA
PEATC
2012
2013
SBMA
2012
2013
TIEZA
2012
2013
2012
2013
Government equity
Balance, beginning of period
10,850
Additions/deductions
10,850
-
10,850
10,850
3,248,276
3,248,276
2,000
2,000
19,942,815
19,942,815
3,248,276
3,248,276
2,000
2,000
19,942,815
19,942,815
Additions/deductions
31,767
259,493
Additions/deductions
(227,726)
31,767
31,767
9,680
9,680
Share capital
Balance, beginning of period
Additions/deductions
Balance, end of period
Contingent capital
Invested capital
Appraisal increment
Balance, beginning of period
Additions/deductions
9,680
9,680
Donated capital
Balance, beginning of period
37,618
37,618
Additions/deductions
Balance, end of period
37,618
37,618
203
Cluster 4
Summary Statement of Changes in Equity
Period Ended December 31, 2013
(with corresponding figures for 2012)
(in thousand pesos)
PRA
PEATC
2012
2013
SBMA
2012
2013
TIEZA
2012
2013
2012
2013
Government
Equity in jointequity
venture
Balance, beginning of period
11,241,405
10,172,529
1,740
1,577
1,301,524
1,068,876
163
163
12,542,929
11,241,405
1,903
1,740
Additions/deductions
Additions/deductions
15,791,205
14,489,681
3,903
Additions/deductions
Balance, end of period
Retained earnings (deficit)
Balance, beginning of period
Additions/deductions
Balance, end of period
(4,259,541)
(5,519,433)
10,072,851
8,819,760
1,221,924
1,259,892
1,089,052
1,253,091
(3,037,617)
(4,259,541)
11,161,903
10,072,851
Restricted capital
307
307
307
307
3,740
16,974,890
15,752,966
TOTAL EQUITY
See notes to summary financial statements
204
11,182,433
10,093,381
Cluster 4
Summary Statement of Changes in Equity
Period Ended December 31, 2013
(with corresponding figures for 2012)
(in thousand pesos)
CFI
ZCSEZA
2012
2013
SPDA
2012
2013
2012
2013
Government equity
Balance, beginning of period
782,169
782,169
Additions/deductions
331
782,500
782,169
Additions/deductions
Additions/deductions
Additions/deductions
Additions/deductions
Additions/deductions
Balance, end of period
Share capital
Contingent capital
Invested capital
Appraisal increment
Donated capital
205
Cluster 4
Summary Statement of Changes in Equity
Period Ended December 31, 2013
(with corresponding figures for 2012)
(in thousand pesos)
CFI
ZCSEZA
2012
2013
SPDA
2012
2013
2012
2013
Government
Equity in jointequity
venture
Balance, beginning of period
Additions/deductions
Balance, end of period
100,309
82,155
(138,224)
(128,189)
112,099
141,576
36,917
18,154
(11,735)
(10,035)
15,306
(29,477)
137,226
100,309
(149,959)
(138,224)
127,405
112,099
Additions/deductions
Additions/deductions
137,226
100,309
632,541
643,945
127,405
112,099
Additions/deductions
Balance, end of period
Restricted capital
TOTAL EQUITY
See notes to summary financial statements
945
206
Cluster 4
Summary Cash Flow Statement
Year Ended December 31, 2013
(With corresponding figures for 2012)
(In thousand pesos)
TOTAL
2013
2012
51,291,079
(38,202,977)
13,088,102
43,819,594
(31,651,981)
12,167,613
1,191,810
(3,151,838)
(1,960,028)
922,394
(4,347,131)
(3,424,737)
1,602,970
(6,840,194)
(5,237,224)
5,564,442
(11,131,804)
(5,567,362)
524,464
(506,181)
6,415,314
2,669,333
41,161,945
38,492,612
47,577,259
41,161,945
207
Cluster 4
Summary Cash Flow Statement
Year Ended December 31, 2012
(With corresponding figures for 2011)
(In thousand pesos)
AFAB
APECO
2013
BCDA
2013
2012
809,862
(789,498)
20,364
829,567
(758,805)
70,762
149,889
(75,180)
74,709
155,270
(95,135)
60,135
6,030,229
(6,162,461)
(132,232)
5,357,837
(1,623,072)
3,734,765
878
(50,108)
(49,230)
(86,130)
(86,130)
(91,118)
(91,118)
(165,773)
(165,773)
(101,916)
(101,916)
79,087
(12,619)
66,468
50,248
50,248
93,505
(1,723,546)
(1,630,041)
37,602
34,880
(16,409)
(105,638)
(1,863,904)
230,992
196,112
77,760
183,398
268,594
230,992
61,351
77,760
208
2012
2013
BTPI
2012
2013
2012
16,991
(19,011)
(2,020)
36,780
(30,530)
6,250
(217,611)
(217,611)
(1,270)
(1,270)
15,287
(1,507,416)
(1,492,129)
2,025,025
(2,020)
4,980
9,197,589
7,172,564
7,819
2,839
7,333,685
9,197,589
5,799
7,819
285
Cluster 4
Summary Cash Flow Statement
Year Ended December 31, 2012
(With corresponding figures for 2011)
(In thousand pesos)
BMHI
2013
CDC
2012
2013
CIAC
2012
JHMC
2013
2012
2013
2012
76,423
(72,371)
4,052
54,334
(86,439)
(32,105)
1,589,827
(1,110,679)
479,148
1,334,817
(1,194,341)
140,476
430,621
(384,455)
46,166
516,967
(344,319)
172,648
106,338
(100,354)
5,984
122,979
(88,526)
34,453
4,788
(13,202)
(8,414)
55,852
(271)
55,581
15,407
(58,981)
(43,574)
9,157
(99,523)
(90,366)
44,644
(349,987)
(305,343)
66,134
(73,016)
(6,882)
(1,950)
(1,950)
1
(2,737)
(2,736)
(6,542)
(6,542)
(4,270)
(4,270)
95,475
(97,559)
(2,084)
120,427
(116,851)
3,576
313,000
(55,637)
257,363
(55,379)
(55,379)
3,930
3,930
6,953
6,953
17,390
(10,904)
19,206
450,880
53,126
256,939
237,733
982,692
929,566
246,035
256,939
1,433,572
982,692
209
(560)
(1,814)
459
(369)
110,387
8,423
38,301
164,163
53,776
68,728
30,427
162,349
164,163
77,151
68,728
Cluster 4
Summary Cash Flow Statement
Year Ended December 31, 2012
(With corresponding figures for 2011)
(In thousand pesos)
NORTHRAIL
2013
PPMC
2012
2012
2013
2012
111,848
(116,885)
(5,037)
399,603
(136,307)
263,296
291,748
(119,294)
172,454
520
(30)
490
330
330
(565,308)
(565,308)
(365,257)
(365,257)
(31,600)
(31,600)
546,806
(88,396)
458,410
293,948
(7,264)
286,684
(7,460)
424
(91,313)
(90,889)
126
(98,487)
(98,361)
111,808
(110,766)
1,042
1,064,340
(27,459)
1,036,881
124,359
(1,605,323)
(1,480,964)
117
(50,250)
(50,133)
2013
2012
152
152
(143,428)
(143,428)
50,250
50,250
128,234
(99,168)
1,074,226
(1,821,921)
(49,091)
45,543
161,515
86,421
(31,110)
1,237,040
3,058,961
74,799
29,256
263,734
177,313
41,589
41,437
2,311,266
1,237,040
25,708
74,799
425,249
263,734
10,479
41,589
NLPCSI
2013
CEZA
210
5,117
152
Cluster 4
Summary Cash Flow Statement
Year Ended December 31, 2012
(With corresponding figures for 2011)
(In thousand pesos)
CAAP
2013
MCIAA
2012
2013
MIAA
2012
2013
NDC
2012
2013
2012
6,525,899
(5,097,555)
1,428,344
5,848,028
(5,786,185)
61,843
1,657,662
(982,593)
675,069
1,645,915
(1,304,541)
341,374
11,848,925
(8,825,817)
3,023,108
10,170,764
(7,523,975)
2,646,789
332,984
(322,557)
10,427
396,125
(325,686)
70,439
(189,078)
(10,246)
(199,324)
(463,168)
(463,168)
(358,036)
(358,036)
(91,642)
(91,642)
3,067
(550,467)
(547,400)
1,474
(508,540)
(507,066)
85,112
(43,863)
41,249
54,935
(28,438)
26,497
(41,018)
(41,018)
(84,371)
(84,371)
(2,282,099)
(2,282,099)
4,882,278
(7,455,383)
(2,573,105)
89,688
(102,491)
(12,803)
179,375
(93,449)
85,926
19,859
(125,501)
1,248,879
(526,826)
4,140,864
5,389,743
334,866
(176,489)
79
(13,119)
(609,871)
38,952
169,743
276,015
165,361
528,475
4,667,690
1,774,372
1,609,011
9,424,631
10,034,502
796,483
626,740
4,140,864
2,050,387
1,774,372
9,953,106
9,424,631
835,435
796,483
211
Cluster 4
Summary Cash Flow Statement
Year Ended December 31, 2012
(With corresponding figures for 2011)
(In thousand pesos)
BLCI
2013
Cash flows from operating activities
Cash inflows
Cash outflows
Net cash from operating activities
FCIEI
2012
2013
2012
2013
2012
4,284
(4,548)
(264)
18,440
(16,562)
1,878
16,209
(14,782)
1,427
13
(55)
(42)
(62,112)
(62,112)
(9,524)
(9,524)
3,683
8,262
(1,435)
1,878
1,427
32,035
23,773
7,974
8,238
2,526
1,099
113
112
35,718
32,035
6,539
7,974
4,404
2,526
113
113
7
7
28,403
(10,575)
17,828
2012
IIGSI
4,268
(5,703)
(1,435)
108,046
(42,258)
65,788
2013
GYREI
212
(264)
1
(1)
1
1
Cluster 4
Summary Cash Flow Statement
Year Ended December 31, 2012
(With corresponding figures for 2011)
(In thousand pesos)
KRC
2013
MGC
2012
2013
NPIC
2012
2013
11,138
(5,161)
5,977
6,150
(2,733)
3,417
1,839
(7,881)
(6,042)
(4,551)
(4,551)
1,426
3,417
7,364
3,947
138,977
209,765
8,790
7,364
132,938
138,977
213
2012
2013
2012
1,155
(1,205)
(50)
2,092
(1,217)
875
1,932
(839)
1,093
1,956
(936)
1,020
(46)
(46)
2
(69,417)
(69,415)
(1,017)
(1,017)
(1,163)
(1,163)
(6,039)
(70,788)
(50)
875
76
53,399
52,524
1,496
1,639
53,349
53,399
1,572
1,496
3
3
5,788
(7,115)
(1,327)
PRC
(143)
Cluster 4
Summary Cash Flow Statement
Year Ended December 31, 2012
(With corresponding figures for 2011)
(In thousand pesos)
PADC
2013
PEZA
2012
2013
PNCC
2012
ASDI
2013
2012
2013
2012
58,847
(52,354)
6,493
42,857
(42,786)
71
8,178,744
(6,997,129)
1,181,615
7,696,069
(6,726,565)
969,504
235,692
(111,068)
124,624
139,634
(177,481)
(37,847)
8,833
(7,639)
1,194
(1,082)
(1,082)
(1,472)
(1,472)
119
(30,291)
(30,172)
2,203
(153,957)
(151,754)
31,139
(2,224)
28,915
44,284
(91,025)
(46,741)
(274,454)
(274,454)
(2,000)
(2,000)
(389,721)
(389,721)
(382,809)
(382,809)
(39,383)
(39,383)
(1,011)
3,411
(1,401)
25,586
28,997
9,842
13,344
(26,024)
(12,680)
406,531
406,531
771,564
433,930
153,539
(84,588)
(273,260)
354,468
26,987
1,820,590
1,386,660
27,726
112,314
572,558
218,090
25,586
2,592,154
1,820,590
181,265
27,726
299,298
572,558
214
Cluster 4
Summary Cash Flow Statement
Year Ended December 31, 2012
(With corresponding figures for 2011)
(In thousand pesos)
CDCP FC
2013
DCBGSI
2012
2013
2012
39
39
(38)
(38)
540
540
86
(126)
(40)
TFC
2013
TCPC
2012
2013
68,190
(75,488)
(7,298)
87,373
(80,312)
7,061
438
(1,713)
(1,275)
6,873
(101)
6,772
90,043
(5,867)
84,176
(8,033)
98,009
(249)
(1,023)
1,384
1,282
361
1,384
(40)
1
(1)
2012
374
(1,937)
(1,563)
3,393
(2,197)
1,196
1,207
1,207
540
(1,207)
(667)
249
(1,341)
(1,092)
(249)
(249)
408
448
157,715
59,706
249
409
408
149,682
157,715
215
(2)
102
Cluster 4
Summary Cash Flow Statement
Year Ended December 31, 2012
(With corresponding figures for 2011)
(In thousand pesos)
PRA
2013
PEATC
2012
2013
5,904,405
(2,253,225)
3,651,180
2,448,396
(826,169)
1,622,227
75,344
(19,617)
55,727
(1,082,101)
(1,082,101)
SBMA
2012
2013
56,032
(55,369)
663
44,989
(43,772)
1,217
75,382
(11,798)
63,584
4,613
4,613
(700,000)
(700,000)
TIEZA
2012
2013
2012
2,143,362
(1,231,206)
912,156
2,096,374
(1,313,956)
782,418
4,243,831
(2,934,652)
1,309,179
4,149,469
(2,754,295)
1,395,174
7,618
7,618
47,895
(1,263)
46,632
64,188
(69,349)
(5,161)
(451,723)
(451,723)
(266,281)
(266,281)
26,125
26,125
17,079
17,079
309,158
(854,324)
(545,166)
1,731
(560,845)
(559,114)
(33,219)
(33,219)
(36,823)
(36,823)
8,305
(82,490)
28
(12)
2,624,806
985,811
31,401
25,914
421,927
135,653
824,265
1,092,058
3,856,836
2,871,025
197,009
171,095
730,872
595,219
4,725,949
3,633,891
6,481,642
3,856,836
228,410
197,009
1,152,799
730,872
5,550,214
4,725,949
216
Cluster 4
Summary Cash Flow Statement
Year Ended December 31, 2012
(With corresponding figures for 2011)
(In thousand pesos)
CFI
2013
ZCSEZA
2012
2013
SPDA
2012
2013
2012
24,237
(21,927)
2,310
48,910
(25,071)
23,839
69,798
(49,975)
19,823
78,744
(55,883)
22,861
63,871
(50,451)
13,420
31,815
(39,217)
(7,402)
(46,850)
(46,850)
(22,209)
(22,209)
(18,105)
(18,105)
642
(20,386)
(19,744)
1,773
(25)
1,748
2,418
(1,753)
665
45,116
45,116
576
1,630
1,718
3,117
15,168
(6,737)
8,682
7,052
51,258
48,141
1,294
8,031
9,258
8,682
52,976
51,258
16,462
1,294
217
CLUSTER 4
GENERAL INFORMATION
Pursuant to COA Resolution No. 2012-019 dated December 20, 2012, the Corporate Government
Sector was divided into six (6) clusters. The then Cluster B was subdivided into two (2) Clusters
which are Cluster 3 and Cluster 4.
Cluster 4 composes of GOCCs engaged in transportation, housing and area development. The
mandates of the GOCCs under this Cluster are enumerated in Annex 4.
As of December 31, 2013, a total of 43 GOCCs composes this Cluster consisting of 20
parent/stand alone corporations and 23 subsidiaries. The audit jurisdiction and supervision over
the following stand alone GOCCs, located in the Regions is with the various COA Regional
Offices:
NAME OF GOCC
Subic Bay Metropolitan Authority
Authority of the Freeport Area of Bataan
Aurora Pacific Economic Zone Authority
Partido Development Administration
Mactan Cebu International Airport Authority
Zamboanga City Special Economic Zone
Authority
Marawi Resort Hotels, Inc.
PHIVIDEC Industrial Authority
Southern Philippines Development Authority
ABBREVIATION
SBMA
AFAB
APECO
PDA
MCIAA
ZCSEZA
REGION
III
III
IV
V
VII
IX
MRHI
PIA
SPDA
X
X
X
A complete listing of the GOCCs under the audit jurisdiction of this Cluster, including their
acronyms, the addresses of their registered offices and the laws creating them, is presented in
Schedule 1.
Report Coverage/Limitations
The discussions that follow pertain to the Summary Financial Statements of GOCCs under this
Cluster.
There are 43 parent and subsidiary corporations under this Cluster. The financial statements of 39
of these GOCCs were included in this AFR, with 38 Annual Audit Reports (AARs) already
transmitted to their Boards/Managements and 1 with transmittal letter but with request to put on
hold pending authorization for issue by its Board of Directors. The financial statements not
included in this AFR pertain to the 2 GOCCs with AARs not yet submitted to this Cluster, 1
GOCC with AAR still under review and 1 GOCC with incomplete notes. The status of audit as of
August 16, 2014 of each of the corporations under this Cluster is listed in Annex 1.
The members of the governing boards of the GOCCs under this Cluster are listed in Annex 2.
218
CLUSTER 4
NOTES TO SUMMARY FINANCIAL STATEMENTS
(in thousand pesos)
1. SUMMARY OF SIGNIFICANT
EXPLANATORY INFORMATION
ACCOUNTING
POLICIES
AND
OTHER
Basis of Preparation
The financial statements of the 39 GOCCs included in this AFR have been prepared in
accordance with the Generally Accepted Accounting Principles in the Philippines.
These financial statements have been prepared using the historical cost basis except for certain
properties which are stated at appraised or fair value.
The financial statements of the parent corporations were presented separately from those of their
subsidiaries.
The following subsidiaries of the NDC have changed their basis of accounting from the goingconcern to the liquidation basis due to the winding down of their operations because of continued
losses or shortening of corporate life, or impending dissolution. Accordingly, the carrying values
of the remaining assets of these subsidiaries are presented at estimated realizable values, while the
liabilities are presented at estimated settlement amounts:
1. IIGSI
2. MGC
3. NPIC
The financial statements are presented in Philippine peso, which is the functional and presentation
currency of all the GOCCs under this Cluster. All amounts are rounded to the nearest thousand.
Cash and cash equivalents
Cash includes cash on hand and in banks. Cash equivalents are short-term, highly liquid
investments with original maturities of three months or less from dates of purchase.
Receivables
Receivables are stated at face value, less allowance for doubtful accounts. Allowance for
uncollectibility is established based on a certain percentage of the receivables as aged which
varies among the GOCCs.
Inventories
Inventories are stated at the lower of cost and net realizable value. Cost is determined by either
the moving-average method or the first-in, first-out (FIFO) method.
Investments
The BCDA, PRA, NDC and CDC adopted the cost method of valuation of their investments in
subsidiaries less allowance for impairment except for CDCs investment in Clark Expo which is
accounted for under the equity method.
SBMAs and NDCs investments in affiliates are accounted for under the equity method.
219
Cash on hand
Cash in banks
Short-term placements
2012
229,790
15,950,581
24,981,574
41,161,945
Cash in banks, which are in local and foreign currencies, earn interest at the respective bank
deposit rates.
Short-term placements are made for varying periods of up to three months. These placements
earn interest at the respective short-term placement rates.
3. RECEIVABLES
2013
14,640,559
3,421,101
Accounts receivable
Lease/rent receivable
220
2012
15,003,191
3,365,893
Loans receivable
Due from GOCCs, NGAs and LGUs
Interest receivable
Due from Non-Government Organizations
and cooperatives
Due from operating units/other funds/
subsidiaries and affiliates
Due from officers and employees
Notes receivable
Receivables disallowances/charges
Dividends receivable
Advances to contractors
Others
Less: Allowance for doubtful accounts/
impairment
272,320
3,226,220
2,626,391
272,320
3,333,741
2,210,065
35,534
41,189
1,985,195
105,955
76,646
189,208
386,336
2,288
1,695,237
28,662,990
5,556,739
106,679
5,329
183,110
27,542
10,086
1,653,338
31,769,222
5,056,798
23,606,192
4,958,668
26,810,554
4. INVENTORIES
2013
656,686
239,027
1,128,627
283,075
26,139
5,231
2,338,785
38,649
2,300,136
Finished goods
Work in process
Merchandise inventory
Materials and supplies
Gasoline, oil and lubricants
Others
Less: Allowance for obsolescence
2012
1,261,432
224,626
1,287,844
294,157
23,912
4,840
3,096,811
35,702
3,061,109
Finished goods are comprised of the Coastal Plaza lots and share of PRA on the reclaimed lots at
the Central Business Park IA, IB/C and II.
Merchandise inventory substantially consists of subdivision lots, condominium and residential
units allocated to BCDA in McKinley Hills, Serendra, Newport City and Pacific Plaza Tower
Projects.
The accounts of MGC, IIGSI, PADC, PNCC and TCPC were provided with an allowance for
221
obsolescence.
5. PREPAYMENTS AND DEFERRED CHARGES
2013
289,329
94,454
469,100
65,004
36,636
6,380,653
66,472
160,966
7,562,614
Prepayments
Input VAT
Prepaid taxes
Creditable withholding tax
Deferred charges
Advances to contractors
Guaranty deposits
Others
2012
275,256
42,228
446,825
40,019
28,783
6,405,595
59,993
14,891
7,313,590
7. LONG-TERM RECEIVABLES
Accounts receivable
Installment receivable
Loans receivable
Due from GOCCs, NGAs and LGUs
Due
from
operating
units/other
funds/subsidiaries and affiliates
Due from officers and employees
Due from Non-Government Organizations
and cooperatives
Others
Less: Allowance for doubtful accounts
/impairment
2013
3,358,737
36,207
5,842,044
10,497,482
2012
3,246,327
32,633
5,735,249
12,281,420
3,476,279
19,136
577,988
18,337
14,488
240,909
23,485,282
14,488
172,191
22,078,633
3,454,773
20,030,509
3,387,848
18,690,785
Due from GOCCs, NGAs and LGUs substantially pertains to the non-current portion of PRA
receivables arising from the sale of lots to GOCCs, Lease with Option to Purchase Agreements
for the completed buildings financed and constructed by PRA for NGAs, and the Value-Added
Tax due from the City Governments of Paraaque and Pasay.
Loans receivable pertains to NDC account representing the non-current portion of the loan
granted to National Irrigation Administration (NIA), which loan was funded from the proceeds of
Agri-Agra bonds.
222
8. LONG-TERM INVESTMENTS
Investment in subsidiaries/affiliates/joint
ventures
Investment in stocks
Investment in Treasury Bills/Notes
Investment in bonds
Others
Less: Allowance for decline in value of
investments/impairment
2013
2012
39,202,913
5,558,111
576,012
1,457,064
295,496
47,089,596
39,890,648
4,631,996
606,611
2,082,181
4,219,140
51,430,576
3,996,986
43,092,610
4,196,781
47,233,795
2013
97,086,186
39,884,804
1,036,840
388,459
4,023,739
2,220,894
9,743,266
541,205
154,925,393
50,741,274
104,184,119
7,221,154
111,405,273
2012
96,402,970
39,644,814
994,671
388,459
3,897,754
2,228,431
9,567,288
593,464
153,717,912
49,423,303
104,294,609
6,225,269
110,519,878
Land and land improvements substantially consists of BCDAs account amounting to P47,249.49
million and P47,404.78 million for CY 2013 and CY 2012, respectively.
Machineries and equipment mostly pertains to MIAAs account amounting to P5,918.28 million
and P5,698.91 million for CY 2013 and CY 2012, respectively.
10. INVESTMENT PROPERTY
This account substantially consists of lands and other assets which are held for undetermined
future use. These are the following:
2012
2013
Three Islands
6,704,979
6,704,979
Esplanade
1,161,852
1,161,852
Asiaworld
788,648
788,648
R-1 Landstrips
632,820
632,820
Bacolod Reclamation
323,868
323,868
223
Libertad Channel
29,737
9,641,904
29,737
9,641,904
Three Islands consist of 157.844 hectares reclaimed land at various elevation recorded at June
2008 appraisal while the Asiaworld represents lots 2A & 2B of the Reclamation Plan with a total
area of 28,166 square meters. R-1 Landstrips pertain to the 154,272 square meter lots along the
Coastal Road area recorded at June 2007 and June 2008 appraisals. These accounts, together with
Bacolod Reclamation and Libertad Channel accounts pertain to PRA.
2013
423,549
63,078
360,471
6,057,910
2012
421,350
59,495
361,855
6,387,034
12,881
6,045,029
5,291,069
9,615,422
3,159,496
12,881
6,374,153
5,277,578
9,615,422
2,933,845
9,203,170
5,449,908
12,521
682,838
33,414,424
39,819,924
10,614,991
29,204,933
9,031,417
5,518,322
15,406
612,675
33,004,665
39,740,673
10,615,010
29,125,663
2013
3,768,538
6,078,782
2012
3,341,698
5,470,399
3,395,232
10,725,435
593,206
2,878,324
7,628,851
11,603,201
600,721
2,580,891
1,414,064
520,757
920,081
1,958,446
32,252,865
1,808,826
527,428
1,412,143
1,796,112
36,770,270
224
Due to GOCCs, NGAs and LGUs refer mostly to the account of PNCC pertaining to the amount
of concession fees payable to the Toll Regulatory Board, unremitted share in the toll revenue and
unremitted Joint Venture companies dividends.
2013
41,894,941
11,830,215
2012
51,850,553
7,078,836
497,489
4,620,963
2,400,799
61,244,407
498,055
3,837,722
2,338,150
65,603,316
Loans payable represents domestic and foreign loans of the various GOCCs.
2012
17,607,066
15,097,457
(2,948,551)
2,818,758
32,574,730
Total deficit amounted to P911.900 million and P2,429.36 million for CY 2013 and CY 2012,
respectively. Eight (8) and nine (9) of the GOCCs included in this summarization suffered
deficits in CY 2013 and CY 2012, respectively, as follows:
BTPI (2013 and 2012)
CIAC (2013 and 2012)
JHMC (2013 and 2012)
FCIEI (2013 and 2012)
IIGSI (2013 and 2012)
CDCP-FC (2013 and 2012)
TFC (2013 and 2012)
TCPC (2013 and 2012)
PNCC (2012)
2012
5,316,570
1,346,264
104,320
6,767,154
Gain on foreign exchange substantially consists of BCDAs account representing unrealized gain
225
or loss from translation of foreign denominated accounts to its peso equivalent using the BSP rate
as of reporting date.
Gain on revaluation substantially consists of PNCCs account representing the change in fair
value of investment property.
2013
954,437
556,480
1,370,270
900,513
733,602
4,515,302
2012
521,018
612,935
1,408,582
842,626
540,075
3,925,236
Share from income of joint venture operations refers mostly to BCDAs share from joint venture
companies.
2012
2,976,304
1,333,340
309,966
635,623
5,255,233
226
2013
7,622,618
2,846,943
2,678,242
1,691,550
816,623
426,067
418,214
255,604
366,087
161,594
198,284
120,992
71,264
44,506
26,896
16,565
2,764
617,666
2012
7,588,106
3,030,244
2,360,156
1,106,284
937,740
439,762
948,600
196,495
298,198
166,657
198,930
122,348
76,646
23,351
32,511
5,459
1,952
559,965
18,382,479
18,093,404
2013
2,573
34,563
1,113
45,865
326,499
410,613
2012
1,365
351,947
106,551
6,132
99,380
565,375
227
Schedule 1
CORPORATE GOVERNMENT SECTOR
Cluster 4
Summary Data of Agencies Under Cluster 4
Agency Name
Acronyms
Parent
/Controlling
Entity
Enabling Law/Creation
1.
2.
3.
BCDA
4.
BTPI
BCDA
5.
BMHI
BCDA
6.
CDC
BCDA
Clark Special Economic Zone, Clark Field, Angeles City, Corporation Law
Pampanga
7.
CIAC
BCDA
Corporate Office Bldg., Clark Freeport Zone, Clark Field, Corporation Law
Pampanga
8.
JHMC
BCDA
9.
NORTHRAIL
BCDA
PPMC
BCDA
CEZA
APECO
Casiguran, Aurora
AFAB(BEPZ)
Mariveles, Bataan
RA 9728
NLPCSI
2F Bonifacio Technology Center, 31st Street, Cresent Park RA 7227 amended by RA 9717
West Bonifacio Global City, Taguig City
Corporation Law
Corporation Law
Corporation Law
CAAP
RA 9497
LLDA
RA 6958
MCIAA
228
Agency Name
Acronyms
Parent
/Controlling
Entity
Enabling Law/Creation
MIAA
MRHI
Marawi City
Corporation Law
NDC
BLCI
NDC
FCIEI
NDC
Corporation Law
GYREI
NDC
Corporation Law
IIGSI
NDC
Corporation Law
KRC
NDC
Corporation Law
MGC
NDC
Corporation Law
NPIC
NDC
Corporation Law
PRC
NDC
Corporation Law
PDA
RA 7820 of 1994
PADC
PEZA
PNCC
ASDI
PNCC
Corporation Law
CDCP-FC
PNCC
Corporation Law
DISCCBGSI
PNCC
Corporation Law
TFC
PNCC
Corporation Law
TCPC
PNCC
Corporation Law
229
Agency Name
36. Philippine Reclamation Authority
37. PEA Tollway Corporation
38 PHIVIDEC Industrial Authority
Acronyms
PRA(PEA)
PEATC
SPDA
SBMA
TIEZA
CFI
ZCSEZA
PIA
Parent
/Controlling
Entity
Enabling Law/Creation
PD 1084 of 1977
Corporation Law
1980
Corporation Law
RA 7903 of 1995
230
PHILIPPINE
SUGAR
CORPORATION
Financial
Statements
of GOCCs
(Cluster 5)
2013
2012
(As Restated)
3
4
5
6
7
8
87,347,631
27,131,276
5,426,957
43,969,272
8,527,875
2,135,046
157,205
91,116,387
22,878,549
5,165,302
43,132,669
18,272,846
1,505,519
161,502
9
10
11
12
215,319,810
1,326,388
60,094,420
147,268,639
6,630,363
140,563,559
1,274,029
2,738,304
130,262,166
6,289,060
TOTAL ASSETS
302,667,441
231,679,946
297,915,351
157,581,467
153,941,114
3,640,353
234,424,135
92,771,022
89,258,079
3,512,943
140,333,884
1,955
119,743,768
19,336,198
1,251,963
141,653,113
2,860
121,808,498
18,862,603
979,152
13
14
Non-current liabilities
Mortgage payable
Loans and advances payable
Deferred credits
Others
15
16
Equity
4,752,090
302,667,441
233
(2,744,189)
231,679,946
PADCC
2012
(As Restated)
2013
ZREC
2012
(As Restated)
2013
NDA
2012
(As Restated)
2013
2012
(As Restated)
Assets
Current assets
Cash and cash equivalents
Short-term investments
Receivables (net)
Inventories (net)
Prepayments and deferred charges
Others
218,935
199,117
17,774
1,312
732
210,248
185,115
23,797
1,012
324
56,665
50,642
6,023
-
58,499
58,014
485
-
356,834
23,997
332,141
526
170
-
356,471
23,674
332,271
526
-
1,228,597
436,651
561,278
110,098
115,907
4,663
1,111,449
541,128
388,000
175,735
2,003
4,583
Non-current assets
Long-term receivables (net)
Long-term investments (net)
Property, plant and equipment (net)
Others
372,682
187,034
5,956
86,229
93,463
376,391
189,997
5,956
86,975
93,463
23,787
965
4,819
18,003
25,498
965
6,530
18,003
578
578
-
516
516
-
122,851
46,949
55,922
19,980
122,207
46,207
56,020
19,980
TOTAL ASSETS
591,617
586,639
80,452
83,997
357,412
356,987
1,351,448
1,233,656
47,814
34,422
34,422
-
46,836
33,627
33,627
-
55,925
55,925
54,267
1,658
55,377
55,377
53,719
1,658
340,562
340,086
339,667
419
340,232
339,756
339,363
393
633,258
588,932
583,057
5,875
749,439
704,051
698,922
5,129
Non-current liabilities
Mortgage payable
Loans and advances payable
Deferred credits
Others
13,392
3,818
9,574
13,209
4,850
8,359
476
476
-
476
476
-
44,326
38,538
5,788
-
45,388
39,586
5,802
-
Equity
543,803
539,803
24,527
28,620
16,850
16,755
718,190
484,217
591,617
586,639
80,452
83,997
357,412
356,987
1,351,448
1,233,656
234
FTI
2012
NIA-GF
2013
2012
2013
NIA-SF
2012
2013
2012
Assets
Current assets
Cash and cash equivalents
Short-term investments
Receivables (net)
Inventories (net)
Prepayments and deferred charges
Others
11,736,198
1,627,172
1,709,273
8,076,984
12,747
310,022
21,127,891
1,781,662
1,218,658
17,781,713
9,674
336,184
3,363,095
3,217,547
128,155
11,470
5,923
6,117,960
1,136,405
4,961,166
15,658
4,731
14,517,167
12,003,794
815,395
1,695,905
2,073
13,447,052
11,434,250
782,921
1,226,904
2,977
611,998
458,203
117,508
36,287
-
529,248
387,814
116,120
25,314
-
Non-current assets
Long-term receivables (net)
Long-term investments (net)
Property, plant and equipment (net)
Others
9,237,493
2,528,139
2,422,752
4,286,602
8,268,579
2,044,638
2,388,910
3,835,031
6,682,015
136,425
6,525,803
19,787
6,626,968
6,525,025
101,943
107,847,018
107,847,018
-
92,825,064
92,806,448
18,616
2,293,158
2,202,246
90,912
2,173,886
2,082,974
90,912
20,973,691
29,396,470
10,045,110
12,744,928
122,364,185
106,272,116
2,905,156
2,703,134
165,810,075
57,744,283
57,342,618
401,665
162,990,044
52,762,699
52,290,425
472,274
258,886
232,605
232,527
78
595,673
487,219
487,197
22
6,288,450
6,288,286
5,680,577
607,709
4,969,362
4,969,198
4,620,010
349,188
763,219
763,219
728,757
34,462
704,731
704,731
667,640
37,091
Non-current liabilities
Mortgage payable
Loans and advances payable
Deferred credits
Others
108,065,792
107,607,155
458,637
-
110,227,345
109,468,752
758,593
-
26,281
26,281
-
108,454
108,454
-
164
164
-
164
164
-
(144,836,384)
(133,593,574)
9,786,224
12,149,255
116,075,735
101,302,754
2,141,937
1,998,403
20,973,691
29,396,470
10,045,110
12,744,928
122,364,185
106,272,116
2,905,156
2,703,134
TOTAL ASSETS
Equity
TOTAL LIABILITIES AND EQUITY
235
NIACI
2012
2013
NRDC
2012
(As Adjusted)
2013
PFC
2012
2013
2012
Assets
Current assets
Cash and cash equivalents
Short-term investments
Receivables (net)
Inventories (net)
Prepayments and deferred charges
Others
35,263,332
2,746,164
32,481,203
63,164
171,445
(198,644)
34,211,399
2,163,804
32,044,395
63,282
145,677
(205,759)
25,980
8,015
11,968
5,528
469
33,211
8,976
16,113
7,117
1,005
184,740
70,441
87,056
20,677
6,125
441
172,076
52,722
89,511
29,243
159
441
482,332
25,589
456,582
161
-
504,413
65,068
439,206
139
-
Non-current assets
Long-term receivables (net)
Long-term investments (net)
Property, plant and equipment (net)
Others
82,473,307
56,276,663
25,604,865
591,779
24,690,519
11,225
24,157,341
521,953
4,161
562
3,599
4,626
746
3,880
326,985
225,000
9,360
92,625
327,549
225,000
11,768
90,781
3,063
2,855
208
4,585
3,577
1,008
TOTAL ASSETS
117,736,639
58,901,918
30,141
37,837
511,725
499,625
485,395
508,998
103,293,998
73,205,279
72,078,192
1,127,087
45,423,443
16,115,962
14,873,182
1,242,780
26,901
26,678
26,597
81
30,809
30,585
30,504
81
346,124
285,687
181,561
104,126
314,187
244,884
140,758
104,126
88,864
88,864
84,890
3,974
82,289
82,289
82,289
-
Non-current liabilities
Mortgage payable
Loans and advances payable
Deferred credits
Others
30,088,719
11,506,340
18,582,379
-
29,307,481
11,506,340
17,801,141
-
223
223
224
224
60,437
30,000
30,437
-
69,303
30,000
39,303
-
14,442,641
13,478,475
3,240
7,028
165,601
185,438
396,531
426,709
117,736,639
58,901,918
30,141
37,837
511,725
499,625
485,395
508,998
Equity
TOTAL LIABILITIES AND EQUITY
236
NTA
2012
2013
PCA
2012
(As Restated)
2013
PCIC
2012
(As Restated)
2013
2012
Assets
Current assets
Cash and cash equivalents
Short-term investments
Receivables (net)
Inventories (net)
Prepayments and deferred charges
Others
128,389
106,536
17,026
4,827
-
62,655
55,978
811
5,866
-
646,328
86,878
538,298
7,043
13,059
1,050
642,008
70,248
550,986
6,054
13,974
746
5,570,329
1,515,226
3,845,415
179,414
13,878
16,396
1,532,895
1,013,052
354,304
155,009
7,709
2,821
1,074,987
858,845
212,100
1,198
2,844
517,756
352,115
160,726
1,045
3,870
Non-current assets
Long-term receivables (net)
Long-term investments (net)
Property, plant and equipment (net)
Others
284,044
272,557
11,487
279,728
271,968
7,760
562,538
7,017
466,821
88,700
445,294
7,017
346,775
91,502
1,107,750
89
388,420
719,241
1,063,151
89
341,488
721,574
1,196,519
332,737
836,491
27,281
10
753,426
334,360
396,669
22,387
10
TOTAL ASSETS
412,433
342,383
1,208,866
1,087,302
6,678,079
2,596,046
2,271,506
1,271,182
199,443
37,352
36,749
603
183,477
65,821
65,236
585
121,102
121,070
98,778
22,292
118,082
118,073
101,397
16,676
622,395
531,666
515,913
15,753
450,954
377,444
360,423
17,021
848,558
245,674
162,145
83,529
393,695
107,492
40,456
67,036
Non-current liabilities
Mortgage payable
Loans and advances payable
Deferred credits
Others
162,091
152,768
9,323
-
117,656
113,333
4,323
-
32
32
-
9
9
-
90,729
1,955
88,774
-
73,510
2,860
70,650
-
602,884
77,776
525,108
286,203
32,692
253,511
Equity
212,990
158,906
1,087,764
969,220
6,055,684
2,145,092
1,422,948
877,487
412,433
342,383
1,208,866
1,087,302
6,678,079
2,596,046
2,271,506
1,271,182
237
PFDA
2012
2013
PHILSUCOR
2012
(As Restated)
2013
QUEDANCOR
2012
(As Restated)
2013
2012
Assets
Current assets
Cash and cash equivalents
Short-term investments
Receivables (net)
Inventories (net)
Prepayments and deferred charges
Others
301,979
301,979
-
301,813
301,813
-
1,191,911
946,459
206,681
32,659
6,112
1,137,738
898,455
207,434
28,187
3,662
6,061,468
424,976
5,350,399
282,409
492
3,192
5,917,844
570,838
5,133,940
208,656
396
4,014
2,858,736
837,328
45,013
1,968,844
7,497
54
1,788,593
679,691
1,099,181
9,496
225
Non-current assets
Long-term receivables (net)
Long-term investments (net)
Property, plant and equipment (net)
Others
668
470
198
437
239
198
493,128
20,393
356
465,152
7,227
314,451
14,045
89
293,234
7,083
437,303
393,491
30,000
13,798
14
370,840
356,118
14,708
14
841,068
392,263
370
54,168
394,267
911,653
379,270
449
55,539
476,395
TOTAL ASSETS
302,647
302,250
1,685,039
1,452,189
6,498,771
6,288,684
3,699,804
2,700,246
190,043
2,407
2,407
-
192,034
4,398
4,398
-
2,180,056
2,111,360
2,091,936
19,424
1,967,824
1,896,876
1,880,723
16,153
5,401,619
5,401,619
4,987,688
413,931
5,296,688
5,296,688
4,890,600
406,088
9,418,558
8,522,476
8,340,373
182,103
8,583,280
7,447,132
7,276,296
170,836
Non-current liabilities
Mortgage payable
Loans and advances payable
Deferred credits
Others
187,636
187,636
187,636
187,636
68,696
44,841
23,855
-
70,948
47,793
23,155
-
896,082
363,650
3,010
529,422
1,136,148
602,218
4,508
529,422
Equity
112,604
110,216
(495,017)
(515,635)
1,097,152
991,996
302,647
302,250
6,498,771
6,288,684
1,685,039
238
1,452,189
(5,718,754)
(5,883,034)
3,699,804
2,700,246
BFI
2012
(As Restated)
2013
PRRI
2012
2013
2012
Assets
Current assets
Cash and cash equivalents
Short-term investments
Receivables (net)
Inventories (net)
Prepayments and deferred charges
Others
374,181
325,936
31,545
12,649
2,859
1,192
333,293
293,555
31,362
4,762
2,422
1,192
22,171
19,176
1,130
1,796
41
28
51,638
50,252
909
408
41
28
1,071,279
840,605
160,364
68,173
1,479
658
950,237
753,920
132,257
60,876
2,726
458
Non-current assets
Long-term receivables (net)
Long-term investments (net)
Property, plant and equipment (net)
Others
121,627
121,627
-
121,825
121,825
-
195,711
17,632
178,079
196,232
18,211
178,021
692,356
678,174
14,182
660,134
649,201
10,933
TOTAL ASSETS
495,808
455,118
217,882
247,870
1,763,635
1,610,371
109,959
101,539
94,465
7,074
111,099
110,967
105,425
5,542
48,492
44,945
44,945
-
90,699
86,752
86,752
-
821,050
807,093
198,583
608,510
733,881
729,001
128,737
600,264
8,420
8,420
-
132
132
-
3,547
3,547
-
3,947
3,947
-
13,957
13,957
-
4,880
4,880
-
Equity
385,849
344,019
169,390
157,171
942,585
876,490
495,808
455,118
217,882
247,870
1,763,635
1,610,371
Non-current liabilities
Mortgage payable
Loans and advances payable
Deferred credits
Others
239
Income
Business and service income
Gains and premiums
Others
Less: share of National Government
Income after share of National Government
Expenses
Personal services
Maintenance and other operating expenses
Financial expenses
Others
51,005,326
22,602,363
12,941
28,390,022
19
25,754,525
51,005,326
20
21
22
23
43,832,665
5,382,020
30,133,895
8,311,180
5,570
48,632,315
5,514,571
31,845,811
9,371,568
1,900,365
(18,078,140)
2,373,011
37,765,013
34,902,751
19,686,873
37,275,762
53,977
6,616,103
19,632,896
30,659,659
24
240
2012
(As Restated)
25,754,525
24,795,746
121,734
837,045
2013
Income
Business and service income
Gains and premiums
Others
Less: share of National Government
Income after share of National Government
Expenses
Personal services
Maintenance and other operating expenses
Financial expenses
Others
Net income (loss) before subsidy
Subsidy income
Net income (loss) before tax
Income tax expense (benefit)
NET INCOME (LOSS) AFTER TAX
PADCC
2012
(As restated)
2013
ZREC
2012
(As restated)
2013
NDA
2012
2013
2012
(As restated)
38,944
37,161
1,783
43,657
37,028
6,629
1,946
775
1,171
1,516
311
1,205
7,305
7,140
165
13,168
12,875
293
19,908
10,026
9,882
53,126
35,686
17,440
38,944
43,657
1,946
1,516
7,305
13,168
19,908
53,126
33,633
13,151
20,482
-
37,723
12,462
25,259
2
-
6,007
4,068
1,939
-
5,941
3,731
2,209
1
-
7,131
1,211
5,920
-
11,367
1,196
10,171
-
245,962
66,819
179,100
43
-
141,647
66,431
75,193
23
-
5,311
5,934
(4,061)
(4,425)
174
1,801
(226,054)
(88,521)
261,744
337,912
5,311
5,934
174
1,801
35,690
249,391
1,014
79
798
5,311
4,920
95
1,003
35,690
249,391
(4,061)
(4,061)
241
(4,425)
(4,425)
Income
Business and service income
Gains and premiums
Others
Less: share of National Government
Income after share of National Government
Expenses
Personal services
Maintenance and other operating expenses
Financial expenses
Others
Net income (loss) before subsidy
Subsidy income
Net income (loss) before tax
Income tax expense (benefit)
NET INCOME (LOSS) AFTER TAX
FTI
2012
2013
NIA-GF
2012
2013
NIA-SF
2012
2013
2012
19,478,407
19,232,675
245,732
21,627,741
17,687,884
3,939,857
221,456
196,788
1,736
22,932
24,177,562
372,547
354
23,804,661
4,220
4,220
-
2
2
47
47
19,478,407
21,627,741
221,456
24,177,562
4,220
47
32,703,424
1,964,184
23,835,234
6,904,006
-
35,130,616
2,046,149
25,061,231
8,023,236
-
105,371
34,523
70,793
55
-
2,150,055
67,120
201,629
10,294
1,871,012
184,880
184,879
1
-
327,548
311,269
16,279
93,147
79,833
13,312
2
-
80,831
65,112
15,714
5
-
(13,225,017)
(13,502,875)
116,085
22,027,507
(180,660)
(327,548)
(93,145)
(80,784)
2,145,913
8,029,829
26,695,295
22,234,471
265,324
234,946
(11,079,104)
(5,473,046)
116,085
22,027,507
26,514,635
21,906,923
172,179
154,162
31,683
6,603,239
84,402
15,424,268
26,514,635
21,906,923
172,179
154,162
(11,079,104)
(5,473,046)
242
NIACI
2012
2,858,269
2,683,385
174,884
2,570,755
2,386,793
1,637
182,325
25,536
24,717
112
707
49,976
49,379
597
10,296
9,968
328
10,757
10,483
274
1,038
850
188
11,844
1,380
10,464
2,858,269
2,570,755
25,536
49,976
10,296
10,757
1,038
11,844
4,105,350
1,661,609
2,018,632
422,520
2,589
3,697,079
1,685,013
1,643,646
366,280
2,140
29,098
7,564
21,530
4
-
53,773
5,363
48,292
10
108
30,133
10,509
16,657
2,967
-
28,000
12,374
12,813
2,813
-
14,949
10,672
4,270
7
-
13,838
7,162
6,676
-
(1,247,081)
(1,126,324)
(3,562)
(3,797)
(19,837)
(17,243)
(13,911)
(1,994)
Subsidy income
2,485,897
2,306,349
1,238,816
1,180,025
1,238,816
1,180,025
2012
(3,562)
226
(3,788)
243
2013
PFC
2013
Income
Business and service income
Gains and premiums
Others
2013
NRDC
(3,797)
(3,797)
2012
(As restated)
(19,837)
(19,837)
16,500
(743)
(743)
2013
2012
(13,911)
(13,911)
(1,994)
(1,994)
Income
Business and service income
Gains and premiums
Others
NTA
2012
2013
PCA
2012
(As restated)
2013
PCIC
2012
(As restated)
2013
2012
133,044
130,581
2,369
94
83,560
83,027
533
120,971
111,913
9,058
108,003
98,917
9,086
422,069
414,323
141
7,605
434,117
421,904
711
11,502
758,145
720,674
37,471
334,340
305,069
29,271
133,044
83,560
120,971
108,003
422,069
434,117
758,145
334,340
Expenses
Personal services
Maintenance and other operating expenses
Financial expenses
Others
57,286
23,463
33,773
50
-
57,161
20,042
33,870
248
3,001
273,627
175,368
97,653
18
588
348,516
162,144
186,304
55
13
1,620,236
419,436
1,200,571
229
-
1,162,187
437,485
724,530
172
-
202,418
107,983
92,958
1,477
-
191,400
103,658
86,338
1,404
-
75,758
26,399
(152,656)
(240,513)
(1,198,167)
555,727
142,940
271,200
219,120
5,107,440
1,182,757
75,758
26,399
118,544
(21,393)
3,909,273
454,687
555,727
142,940
21,989
11,052
53,769
15,347
118,544
3,909,273
454,687
555,727
142,940
Subsidy income
244
(21,393)
(728,070)
Income
Business and service income
Gains and premiums
Others
PFDA
2012
2013
PHILSUCOR
2012
(As restated)
2013
QUEDANCOR
2012
(As restated)
2013
2012
4,152
4,152
6,969
343
6,626
635,828
620,462
2,014
13,352
553,044
547,945
5,099
256,132
256,132
311,101
311,101
205,162
89,516
89,561
26,085
124,654
89,443
4,269
30,942
4,152
6,969
635,828
553,044
256,132
311,101
205,162
124,654
Expenses
Personal services
Maintenance and other operating expenses
Financial expenses
Others
2,589
2,505
84
-
2,646
2,592
54
-
615,210
287,965
301,143
23,709
2,393
578,667
267,659
298,274
9,868
2,866
121,866
7,351
8,969
105,546
-
121,106
5,903
9,653
105,550
-
2,447,136
93,665
1,503,190
850,281
-
3,651,834
170,789
2,629,494
851,551
-
1,563
4,323
20,618
(25,623)
134,266
189,995
(2,241,974)
(3,527,180)
(428)
1,563
4,323
20,618
(26,051)
134,266
189,995
1,563
4,323
20,618
134,266
189,995
Subsidy income
Net income (loss) before tax
Income tax expense (benefit)
NET INCOME (LOSS) AFTER TAX
245
(26,051)
(2,241,974)
(2,241,974)
394
(3,526,786)
(3,526,786)
Income
Business and service income
Gains and premiums
Others
Less: share of National Government
Income after share of National Government
Expenses
Personal services
Maintenance and other operating expenses
Financial expenses
Others
Net income (loss) before subsidy
Subsidy income
Net income (loss) before tax
Income tax expense (benefit)
NET INCOME (LOSS) AFTER TAX
BFI
2012
(As restated)
2013
PRRI
2012
2013
2012
439,154
418,554
8,368
12,232
419,704
401,887
5,970
11,847
36,949
36,948
1
17,315
17,313
2
75,592
49,290
13,213
13,089
52,370
42,149
10,221
439,154
419,704
36,949
17,315
75,592
52,370
374,072
246,832
127,240
-
360,891
233,024
127,867
-
26,381
12,808
13,573
-
26,219
12,847
13,372
-
532,759
150,501
381,993
265
-
453,270
126,315
321,953
56
4,946
65,082
58,813
10,568
(8,904)
(457,167)
(400,900)
532,200
340,901
65,082
58,813
10,568
75,033
(59,999)
65,082
58,813
10,568
246
(8,904)
(8,904)
75,033
(59,999)
17
2013
24,028,067
838,489
24,866,556
14,024,022
4
14,024,026
14,014,022
10,000
14,024,022
237,617
237,617
237,617
237,617
6,504,734
9,141
6,513,875
18
247
2012
(As restated)
24,312,578
(284,511)
24,028,067
17,324,602
(10,819,868)
6,504,734
348,066
348,066
348,066
348,066
7,303
7,303
7,303
7,303
(47,462,988)
6,105,031
(41,357,957)
(64,594,958)
16,590,744
(48,004,214)
110,216
2,388
112,604
4,752,090
106,306
3,910
110,216
(2,744,189)
PADCC
1,970,125
1,970,125
2012
(As restated)
1,970,125
1,970,125
2012
(As restated)
-
69,004
69,004
69,004
69,004
7,400
7,400
543,803
(1,099,704)
(330,618)
(1,430,322)
539,803
2013
NDA
2012
(As restated)
-
(1,430,322)
4,000
(1,426,322)
2013
ZREC
83,009
198,283
281,292
2012
(As restated)
83,009
83,009
7,400
7,400
2013
(40,384)
(4,093)
(44,477)
(46,887)
6,503
(40,384)
9,355
95
9,450
7,265
2,090
9,355
401,208
35,690
436,898
151,817
249,391
401,208
24,527
28,620
16,850
16,755
718,190
484,217
248
FTI
2012
(As restated)
-
5,000,000
5,000,000
2013
NIA-GF
2012
2013
NIA-SF
2012
2013
2012
1,299,935
(32,152)
1,267,783
1,497,351
(197,416)
1,299,935
5,000,000
5,000,000
500,000
500,000
500,000
500,000
6,340,464
9,141
6,349,605
(138,593,574)
(11,242,810)
(149,836,384)
(133,486,596)
(5,106,978)
(138,593,574)
5,308,791
(2,372,172)
2,936,619
61,655
5,247,136
5,308,791
101,302,754
14,772,981
116,075,735
83,117,881
18,184,873
101,302,754
698,468
175,686
874,154
534,153
164,315
698,468
(144,836,384)
(133,593,574)
9,786,224
12,149,255
116,075,735
101,302,754
2,141,937
1,998,403
249
NIACI
2012
2013
-
5,559,192
5,559,192
10,000
10,000
10,000
10,000
81,626
18,040,452
(91,037)
17,949,415
5,559,192
5,559,192
2012
2013
PFC
2012
(As restated)
-
17,949,415
665,601
18,615,016
NRDC
2013
2012
-
81,626
10,000
10,000
81,626
81,626
10,000
10,000
77,564
77,564
77,564
77,564
26,991
(743)
26,248
(10,030,132)
298,565
(9,731,567)
(10,638,879)
608,747
(10,030,132)
(2,972)
(3,788)
(6,760)
820
(3,792)
(2,972)
26,248
(19,837)
6,411
14,442,641
13,478,475
3,240
7,028
165,601
250
185,438
416,709
(30,178)
386,531
418,929
(2,220)
416,709
396,531
426,709
NTA
2012
2013
125,000
125,000
125,000
125,000
410,450
410,450
PCA
2012
(As restated)
410,450
410,450
2013
1,165,313
1,319
1,166,632
PCIC
2012
(As restated)
1,161,371
3,942
1,165,313
144,415
144,415
144,415
144,415
19,855
19,855
20,097
(242)
19,855
2013
2012
-
1,350,954
1,350,954
1,340,954
10,000
1,350,954
159,452
159,452
159,452
159,452
(110,509)
54,084
(56,425)
(125,856)
15,347
(110,509)
212,990
158,906
558,770
118,544
677,314
1,087,764
251
580,163
(21,393)
558,770
959,924
3,909,273
4,869,197
505,237
454,687
959,924
969,220
6,055,684
2,145,092
(632,919)
545,461
(87,458)
1,422,948
(758,171)
125,252
(632,919)
877,487
PFDA
2012
-
2013
-
PHILSUCOR
498,973
2012
(As restated)
498,973
498,973
498,973
2013
QUEDANCOR
125,000
125,000
2012
(As restated)
125,000
125,000
110,216
2,388
112,604
112,604
106,306
3,910
110,216
110,216
2013
2012
-
1,042,329
4
1,042,333
1,042,329
1,042,329
78,165
78,165
78,165
78,165
64,070
64,070
64,070
64,070
7,303
7,303
7,303
7,303
(544,755)
(520,608)
(1,065,363)
(1,059,930)
(26,051)
(1,085,981)
866,996
105,156
972,152
703,236
163,760
866,996
(7,003,528)
164,276
(6,839,252)
(3,871,931)
(3,131,597)
(7,003,528)
(495,017)
(515,635)
1,097,152
991,996
(5,718,754)
(5,883,034)
252
BFI
58,746
5,438
64,184
2012
(As restated)
58,746
58,746
285,273
36,392
321,665
385,849
2013
PRRI
2012
2013
2012
467,101
467,101
467,101
467,101
268,517
268,517
268,517
268,517
206,432
206,432
206,432
206,432
226,460
58,813
285,273
(317,778)
12,219
(305,559)
(312,095)
(5,683)
(317,778)
409,389
66,095
475,484
470,484
(61,095)
409,389
344,019
169,390
157,171
942,585
876,490
253
2013
2012
(As Restated)
35,693,066
23,554,041
12,139,025
42,012,076
33,131,214
8,880,862
31,129,072
31,346,844
(217,772)
43,251,740
28,728,161
14,523,579
37,619
7,791,403
(7,753,784)
8,764
14,851,301
(14,842,537)
14,869
254
(27,237)
4,182,338
8,534,667
22,490,735
13,956,068
26,673,073
22,490,735
PADCC
2012
2013
ZREC
2012
2013
NDA
2012
2013
2012
47,910
34,707
13,203
57,807
53,116
4,691
1,783
984
799
3,028
2,047
981
372
372
1,015
1,015
14,002
5,672
185,115
199,117
12,800
20,544
(7,744)
11,595
23,311
(11,716)
(7,372)
(10,701)
179,443
58,014
68,715
185,115
50,642
58,014
255
7,435
6,918
517
194
(194)
323
13,195
15,034
(1,839)
306,672
408,077
(101,405)
457,982
497,975
(39,993)
196
(196)
3,072
(3,072)
1,339
6,297
(4,958)
(2,035)
(104,477)
(44,951)
23,674
25,709
541,128
586,079
23,997
23,674
436,651
541,128
20,876,485
12,804,071
8,072,414
FTI
2012
29,633,796
15,238,511
14,395,285
2013
NIA-GF
2012
300,793
501,445
(200,652)
2013
538,270
9,510,572
(8,972,302)
NIA-CF
2012
2013
2,058
484,473
(482,415)
1,875
293,505
(291,630)
4,866,278
2,584,484
2,281,794
19,480,835
10,187,171
9,293,664
26,174,643
25,609,315
565,328
22,713,592
17,138,029
5,575,563
7,752,130
(7,752,130)
14,690,127
(14,690,127)
(6,384)
4,216
(592,856)
2,081,142
321,362
569,544
7,641
(154,490)
(17,197)
2012
6,532,141
4,469,390
2,062,751
372
1,480,763
(1,480,391)
5,592,978
3,567,758
2,025,220
9
535,285
(535,276)
110,000
(110,000)
5,558,366
582,360
1,379,944
1,781,662
2,374,518
1,136,405
815,043
11,434,250
5,875,884
2,163,804
783,860
1,627,172
1,781,662
3,217,547
1,136,405
12,003,794
11,434,250
2,746,164
2,163,804
256
2012
(As Corrected)
28,115
29,203
(1,088)
NRDC
127
(961)
2013
58,430
56,393
2,037
2012
63,989
45,975
18,014
367
(367)
137
432
(295)
PFC
2013
PMDC
2012
2013
39,298
32,459
6,839
960
40,309
(39,349)
74,303
104,586
(30,283)
273
91
182
130
(130)
592
(592)
131,338
68,087
63,251
2012
97,183
68,491
28,692
6,386
(6,386)
902
(902)
8,676
(8,676)
18,818
(18,818)
2,369
(3,001)
1,562
17,719
7,021
(39,479)
(30,875)
50,558
5,971
(108)
8,976
7,414
52,722
45,701
65,068
95,943
55,978
50,007
8,015
8,976
70,441
52,722
25,589
65,068
106,536
55,978
257
PCA
2012
(As Restated)
595,193
345,224
249,969
510,697
313,391
197,306
233,339
(233,339)
315
284,286
(283,971)
2013
PCIC
2012
(As Restated)
2,297,746
1,752,952
544,794
1,475,153
1,099,547
375,606
20,373
75,701
(55,328)
31,520
47,845
(16,325)
8,764
25,805
(17,041)
2013
PCIC-SRTF
2012
1,546,449
623,151
923,298
2013
2012
659,493
459,944
199,549
1,563
1,397
166
6,828
180
6,648
44,915
3,731
41,184
263,282
263,282
33,424
449,992
(416,568)
37,619
24,911
12,708
502,174
342,240
506,730
240,733
166
269,930
16,630
(86,665)
70,248
156,913
1,013,052
670,812
352,115
111,382
301,813
31,883
86,878
70,248
1,515,226
1,013,052
858,845
352,115
301,979
301,813
258
PHILSUCOR
2012
2013
QUEDANCOR
2012
(As Restated)
2013
SRA
2012
2013
2012
(As Restated)
865,479
580,643
284,836
8,977
240,639
(231,662)
3,908
63,402
(59,494)
5,686
(5,686)
6,551
(6,551)
(547)
516
1,078,017
512,098
565,919
103,835
199,442
(95,607)
162,539
93,589
68,950
416,462
214,168
202,294
245,121
307,133
(62,012)
8,910
59,165
(50,255)
15,131
26,974
(11,843)
817
45,474
(44,657)
682,102
102,134
579,968
471,312
430,517
40,795
10,928
19,342
(8,414)
441,703
361,436
80,267
8,601
16,873
(8,272)
48,004
499,327
(145,862)
57,107
157,637
517,956
32,381
71,995
898,455
399,128
570,838
513,731
679,691
161,735
293,555
221,560
946,459
898,455
424,976
570,838
837,328
679,691
325,936
293,555
259
PRRI
2012
2013
66,960
95,992
(29,032)
89,296
37,304
51,992
2,044
(2,044)
2,133
(2,133)
2012
1,019,429
881,829
137,600
50,915
(50,915)
768,392
778,386
(9,994)
16,301
(16,301)
49,859
86,685
(26,295)
(31,076)
50,252
393
753,920
780,215
19,176
50,252
840,605
753,920
260
From
(Cluster)
C
2
3
C
C
4
5
6
C
C
C
7
8
C
C
C
C
C
9
10
C
C
11
12
13
14
15
16
17
18
C
C
C
C
C
B
B
A
19
A
A
Name of GOCC
Acronym
HSDC
NABCOR
PADCC
ZREC
NDA
NFA
FTI
NIA CF (F501)
NIA GF (F101)
NIA SF (F158)
NIACI
NRDC
PFC
PMDC
NTA
PCA
PFDA
SRA
PHILSUCOR
PCIC
PCIC - SRTF
QUEDANCOR
The 19 GOCCs under Cluster 5 were created either by virtue of an enabling law, such as presidential
decree and republic act, or through registration with the Securities and Exchange Commission (SEC),
summarized as follows:
No. of GOCCs
6
Presidential Decree
261
No. of GOCCs
7
3
3
19
SEC Registered
Executive Order
Republic Act
Total
These corporations mostly hold their principal place of business and operations in Quezon City, as
shown below:
No. of GOCCs
12
4
1
1
1
19
Quezon City
Pasig City
City of Manila
Makati City
Taguig City
Total
The Bukidnon Forests, Incorporated (BFI) and Philippine Rice Research Institute (PRRI), stand-alone
GOCCs with principal office located in Regions X and III, respectively, were included in the
summarized or consolidated financial statements of this Cluster in compliance with COA
Memorandum No. 2010-026 dated October 11, 2010.
Schedule 1 shows a complete list identifying the parent and its subsidiaries as well as information
regarding each GOCCs complete address and legal form. In addition, functions of the GOCCs are
summarized in Annex 4.
Upon the representation/recommendation of the Governance Commission for GOCCs (GCG), the
abolition of five GOCCs, namely: HSDC, NABCOR, PADCC, PFC and ZREC, has been approved by
the Executive Secretary per Memorandum dated November 26, 2013. The Memorandum provided that
the GCG shall create a separate Technical Working Group for each GOCC that shall coordinate with
the GCG and implement the following activities:
a.
b.
c.
Winding down of the operations, disposition of the assets and settlement of the liabilities of the
concerned GOCCs;
Transfer of their respective functions and programs, as well as their remaining assets; and
Settlement of the retirement/separation benefits of affected employees.
Reporting Framework
The GOCCs adopted and implemented varied applicable financial reporting frameworks in their
preparation and presentation of financial statements, such as the Philippine Financial Reporting
Standards (PFRS) as adopted by PCIC and QUEDANCOR and partially adopted by PFDA and
NTA, while the remaining 16 GOCCs included in the summarized or combined financial
statements adopted the accounting principles generally accepted in the Philippines or State
accounting principles.
b.
262
and III, respectively, pursuant to 2008 COA Organization Restructuring dated October 10, 2008.
The eight AARs on six GOCCs, namely: NFA, NIA (NIA-GF, NIA-SF and NIA-CF), PFC, PCA,
PCIC and QUEDANCOR were still under review and were transmitted to concerned auditee
GOCC in September and October 2013, hence audit observations and recommendations contained
in the CY 2012 AARs on these six GOCCs were not included in the Summary of Common and
Significant Audit Findings portion of the 2012 AFR.
This year report contains financial data of 20 GOCCs, including BFI and PRRI which the AARs
were either issued/transmitted to concerned auditee GOCC as of September 5, 2014 or still under
review. The six AARs on four GOCCs namely: NFA, NIA (NIA-GF, NIA-SF and NIA-CF),
NTA and NRDC are still under review, thus the audit observations and recommendations on these
four GOCCs were not included in the Summary of Common and Significant Audit Findings
portion of this AFR.
The NABCOR was not included in the consolidated financial data due to non-submission of
financial statements in view of the abrupt closure and the curtailment of the services of all
personnel due to financial constraints resulting from the Bureau of Internal Revenues warrant of
garnishment against all of NABCOR funds. In lieu of the AAR, a Management Letter (ML) is
issued.
c.
d.
e.
Inventories
Inventories are stated by some corporations at lower of cost or net realizable value. In costing
inventories, three GOCCs (FTI, NTA and SRA) use the first-in-first-out (FIFO) method, three
GOCCs (NDA, NRDC and PRRI) use the moving average method while PCA uses the weighted
average method prescribed under the New Government Accounting System (NGAS). The lower
of cost or net realizable value is adopted by National Irrigation Administration Corporate Fund
(NIA-CF) in recording its inventories.
The inventories of National Food Authority (NFA) are recognized at cost. This cost includes the
basic procurement cost plus direct incidental expenses that are identified with each cereal type at
the time they are incurred. However, the customs duties on imported rice/corn which are fully
funded by the National Government are not included in the cost in accordance with Philippine
Accounting Standard (PAS) No. 2 which provides that only import duties and other taxes which
are not subsequently recoverable by the entity from taxing authorities are included in the cost of
the item. Stock issuances are valued based on last months average unit cost. Volumetric physical
count is conducted twice a year. Any variance between the books and the count is taken up as
allowance for inventory variance.
263
In the event that there is obsolescence or impairment of inventories, the cost of inventories is
written down to its net realizable value by recognizing impairment loss and allowance for
obsolescence.
f.
Investments
Investments with maturities of one year or less from balance sheet date are included in current
assets, and those with maturities greater than 12 months after the balance sheet date are classified
as non-current assets. Investments in bonds are recorded at premium or discount, which is
amortized on a straight-line method over the life of the bonds. Interest income pertaining thereto
and that of the investments in treasury bills are recognized on an accrual basis.
Investments in subsidiaries of HSDC and NRDC are recorded under the equity method.
g.
h.
i.
Income is taken up on a modified cash basis by NIA Corporate Fund (NIA-CF), i.e., income from
space and facilities rental, bid documents and management fee are taken up on a cash basis,
whereas income from operations is taken up on an accrual basis. Collections-in-kind (palay, corn,
etc.) are recognized as income upon receipt of cash at the time of sale of the palay inventory
received from the farmers.
Foreign Currency Transactions
Transactions in foreign currencies are recorded in Philippine Peso based on the Bangko Sentral ng
Pilipinas (BSP) rate of exchange at the time of the transaction. At the end of the year, these are
revalued using the closing rate per Reference Exchange Rate Bulletin of the BSP at balance sheet
date. Gains or losses arising from changes in foreign currency exchange rates are included in the
computation of the annual profit and loss.
264
Cash in bank
Cash equivalent
Cash - collecting officers
Cash - disbursing officers
Payroll fund
Cash in National Treasury
Petty cash fund
Working fund
2012
(As Restated)
21,174,168
1,477,219
138,480
51,460
14,184
18,209
4,748
81
22,878,549
A total of P1.879 billion Cash in Bank is restricted for use, of which P1.466 billion is held in trust by
NFA. The remaining balance of P412.792 million is restricted for the following projects, programs and
activities: (a) NIA Special Fund (P360.306 million), representing funds received from the Department
of Agrarian Reform (DAR) for the implementation of Agrarian Reform Infrastructure Support Project
(ARISP), Agrarian Reform Communities Development Project (ARCDP) and Mindanao Sustainable
Settlement Area Development (MINSSAD) projects; (b) NRDC (P10 million) as Fund Manager for the
Environment Impact Assessment Review Committee Fund Project (EIARCFP); and (c) SRA (P42.486
million), representing balance of the trust fund from the National Government for the implementation
of the Department of Agriculture (DA)-SUGAR-Agricultural Competitiveness Enhancement Fund
(ACEF) Project of P17.110 million and P25.010 million for the years ended December 31, 2013 and
2012, respectively, and P0.366 million balance from the cash bond of P3 million received by SRA
Visayas Office from Ragasa Family Corporation being put up as reserve for claims of planters for crop
year 2003-2004.
Moreover, the Cash in bank of PCA amounting to P1.496 billion includes short-term investments on
high-yield savings accounts to maximize income generation of funds held in trust which are
temporarily in custody of the Authority until such time that the amounts will be released for specific
purpose or project; and fund transfers for the implementation of special projects from government
agencies, such as the DA, DAR, Department of Science and Technology (DOST), Philippine Council
for Agriculture, Aquatic and Natural Resources Research and Development (PCAARRD), Philippine
Council for Industry and Energy Research Development (PCIERD), Bureau of Agricultural Research
(BAR) and other Coconut Genetic Resources Network funded projects.
Cash in bank also includes time deposits (local and foreign) of PFDA, PHILSUCOR, QUEDANCOR
and PRRI amounting to P719.442 million, P340.865 million, P810.659 million and P458.923 million,
respectively.
Cash equivalent includes investment made by FTI with the Land Bank of the Philippines (LBP)
amounting to P3.194 billion and investment in marketable securities by PCIC amounting to P318.930
million.
The balance of Cash and cash equivalents of P27.131 billion shown in the Balance Sheet does not tally
with the Cash and cash equivalents reflected in the Statement of Cash Flows (SCF) of P26.673 billion,
or a difference of P0.458 billion. The difference is due to non-submission of SCF by NIA-SF.
4. SHORT-TERM INVESTMENTS
This account is composed of:
2013
265
2012
(As Restated)
2013
5,350,399
76,476
82
5,426,957
Sinking fund
Investments in treasury bills/notes
Others
2012
(As Restated)
5,133,940
31,280
82
5,165,302
Sinking fund of PHILSUCOR represents an irrevocable sinking fund set up for the redemption of the
bonds issued to Philippine National Bank (PNB) pursuant to the Trust Agreement entered into by and
between PNB and PHILSUCOR on December 5, 1991. A deposit of P220 million on December 19,
1991 initially constitutes the trust fund. Additional deposits and earnings also form part of the fund.
The agreement provides that no disbursement/s may be made from the fund until the sugar bonds shall
have been retired and all related liabilities have been paid. As of December 31, 2013, a total of P5.350
billion constitutes the sinking fund, net of adjustments made per Journal Entry Voucher Nos. 2013-139
and 2013-168 wherein interest income was overstated by P3.959 million.
Investments in treasury bills/notes represent investments of QUEDANCOR with Land Bank of the
Philippines (LBP), United Coconut Planters Bank (UCPB) and Philippine Veterans Bank (PVB)
amounting to P12 million, P5.922 million and P27.091 million, respectively, and investment made by
SRA of P31.463 million which is held in escrow for payment of National Sugar Trading Corporation
(NASUTRA) payables.
5. RECEIVABLES (net)
This account consists of the following:
Accounts receivable
Due from GOCCs
Accounts receivable - trade related
Due from National Treasury
Due from NGAs
Due from NGOs/POs
Due from LGUs
Deficiency claims receivable
Due from regional offices/staff bureaus/branch offices
Interest receivable
Subrogated receivables (guarantee claims)
Due from officers and employees
Loans receivable - others
Receivables - disallowances/charges
Loans receivable
Due from other funds
Premiums receivable
Notes receivable
Due from other government agencies
Advances to officers and employees
Due from central office/home office
Inter-agency receivables
Installment receivables
Miscellaneous
Due from private entities
Assigned receivables
Non-trade receivables
Claims on unrealized losses of fixed assets
Due from operating units
266
2013
20,356,427
13,784,824
6,092,205
3,283,835
1,151,287
782,423
689,569
651,173
562,546
511,254
483,544
460,588
401,504
299,993
292,140
260,884
203,503
90,186
54,150
41,924
39,298
14,212
13,848
9,778
6,710
2,566
1,297
208
150
2012
(As Restated)
18,751,727
13,913,596
10,843,299
(84,535)
1,054,813
760,127
688,966
585,587
501,974
504,679
497,239
545,235
385,534
170,999
213,694
381,774
152,034
93,711
54,366
47,748
41,253
16,123
9,947
13,895
6,710
17,124
962
208
-
2013
89
(18,462)
596,619
(7,151,000)
43,969,272
2012
(As Restated)
89
(17,033)
717,653
(7,736,829)
43,132,669
Of the total accounts receivable of P20.356 billion, 88.82 per cent or P18.081 billion represents
trade/business receivables by NIA-CF from irrigation service fees, current installment receivables from
amortization of irrigation pumps, communal irrigation systems and motorcycles.
Due from GOCCs consists mainly of receivable of NIA CF amounting to P13.548 billion, which
includes receivables from National Power Corporation (NPC) relative to the sale of electrical energy
generated by the Casecnan Multi-Purpose Irrigation and Power Project per Power Purchase Agreement
dated June 30, 1995 and Supplemental Agreement dated September 25, 2003.
Accounts receivable-trade related consists of trade receivables due from the various clients/customers
doing business with the corporations under the audit jurisdiction of Cluster 5 which were made part of
this report. It also include trade receivables past due of QUEDANCOR amounting to P5.327 billion,
representing amounts collectible on loans to borrowers under the various programs of the Corporation
and receivable of FTI arising from lease transactions for FTI lots, buildings/facilities and other services
amounting to P118.013 million. The accounts receivable of FTI from Ayala Land, Inc. as of December
31, 2012 amounting to P4.866 billion, representing unpaid balance of the sale price of the FTI property
amounting to P24.331 billion, was fully paid on October 29, 2013 through Privatization Management
Office. It also includes receivables of NDA amounting to P586.854 million representing loans granted
to farmers, cooperatives, multiplier farm operators and individual partners in the form of dairy animals
under different repayment schemes and financial assistance granted to dairy cooperatives for
rehabilitation of milk processing plants and dairy farms.
Due from National Treasury of P3.369 billion represents portion of Subsidy Income from the National
Government recorded in the books of PCA where Sub-allotment Release Order (SARO) and Notice of
Cash Allocation (NCA) were received only on December 27, 2013, consisting of subsidy for the
Coconut Rehabilitation Program of the Yolanda Recovery and Rehabilitation Plan amounting to P2.869
billion and subsidy for Calamity-related rehabilitation/restoration projects and other priority projects
amounting to P0.500 billion. This also includes abnormal (negative) balance of P.085 billion carried in
the books of NIA-CF which is an account maintained with the Bureau of the Treasury (BTr) through
which foreign loan proceeds are released to NIA and reconciliation of this account is still pending with
the BTr; and carried-over balances of the NIA general and bond funds, which were transferred to the
corporate fund in 1983.
Due from NGAs includes receivable of NIA-CF in the amount of P788.850 million representing
releases to the Department of Public Works and Highways (DPWH) District Offices for the
construction/rehabilitation of farm to market roads out of the National Development Company (NDC)
loan proceeds. It also includes advances totaling P157.004 million extended by NIA-GF to the
Department of Environment and Natural Resources (DENR) and Department of Health (DOH) as
partners in the implementation of the irrigation component under Environment and Health per Loan
Package for Southern Philippines Irrigation Sector Project (SPISP) extended by Asian Development
Bank (ADB); receivable of P104.129 million carried in the books of FTI where substantial amount is
attributed to NFA accounts on rent and utilities for Lot 51 including the P95.543 million separation pay
of retrenched employees reimbursed by the BTr coursed through NFA, and taxes withheld by clients to
be offset against income tax; and receivable of PRRI amounting to P47.213 million representing hybrid
seeds issued to Regional Field Units of the Department of Agriculture and Local Government Units
under the Hybrid Rice Commercialization Project based on bills issued by the Special Program
Management Office.
Due from Non-Governmental Organizations/Peoples Organizations (NGOs/POs) consists mainly of
funds released by PFC and ZREC to various NGOs/POs amounting to P443.290 million and P331
million for the implementation of various projects of proponents/legislators out of the latters Priority
267
Development Assistance Fund (PDAF) and Disbursement Acceleration Program (DAP) allocations and
other livelihood projects.
Deficiency claims receivable arise when the value of the property foreclosed/acquired is not sufficient
to cover the borrowers outstanding loan balance as of the date of issuance of certificate of sale by the
sheriff in favor of QUEDANCOR.
Subrogated receivables represent payments made by QUEDANCOR to the lending banks for the
account of the defaulting borrowers with guarantee coverage.
Premiums receivable of PCIC includes receivable from the National Government amounting to
P200.848 million representing the amount of unreleased government share in the total insurance
premiums.
6. INVENTORIES (net)
This account includes:
Merchandise inventory
Raw materials inventory
Agricultural supplies inventory
Work-in-process inventory
Livestock inventory (Breeding stocks)
Finished goods inventory
Confiscated/abandoned/seized goods inventory
Other supplies inventory
Crops and fruits inventory
2013
5,929,957
1,716,448
185,534
142,521
110,098
31,531
20,677
6,795
5,549
2012
(As Restated)
10,330,767
7,079,083
164,739
82,333
175,735
27,395
29,243
5,364
5,657
2013
4,922
2,917
1,852
145
114
25
18
481,455
(112,683)
8,527,875
2012
(As Restated)
1,382
2,917
1,877
365
114
68
34
718,856
(353,083)
18,272,846
Merchandise Inventory consists primarily of the rice inventory of NFA amounting to P5.858 billion
while raw materials inventory pertains mainly to the palay inventory of NFA costing P1.716 billion.
Livestock inventory (breeding stocks) represents the cost of dairy animals in possession of the NDA
being raised and those being ready for dispersal. These dairy animals include the following:
a.
Those that are being raised inside the Ubay Stock Farm in Bohol, which include the imported
dairy animals turned over to the farm for mass production, offspring of the imported animals,
repayment consideration received from beneficiaries for distribution to applicants for animal
dispersal.
268
b.
Those that are still inside the quarantine station in Manolo Fortich, Bukidnon undergoing the
artificial insemination process for impregnation. These were imported from Australia that
were not yet pregnant at the time of importation. After three to five months pregnancy, these
will be dispersed to Multiplier Farms, Cooperatives and Individual Partners.
c.
Confiscated/abandoned/seized goods inventory represents the cost of donated confiscated products per
Deeds of Donation from the Department of Environment and Natural Resources (DENR) to NRDC.
Fifty per cent of the proceeds from the sale of inventories are reverted to DENR in cash and in kind.
Work-in-Process Inventory and Finished Goods Inventory pertain to inventories recorded in the books
of PRRI.
Advances to contractors
Deposit on letters of credit
Inventories (net)
Other prepaid expenses
Prepaid rent
Deferred charges
Prepaid taxes
Prepaid insurance
Prepaid communication
Prepaid subscriptions
Prepaid interest
Others
2012
(As Restated)
1,347,254
197
95,741
22,025
13,129
9,228
6,067
2,741
41
3
4
9,089
1,505,519
Advances to contractors include mobilization costs for various projects undertaken under NIA-GF,
NIA-CF, NIA-SF and PFDA amounting to P1.686 billion, P111.232 million, P35.487 million and
P20.018 million, respectively. The advance payment will be deducted from periodic progress
payments to the contractors.
Deposit on letters of credit (LC) represents cost of LC opened by NDA with the Land Bank of the
Philippines (LBP) including bank charges and amendments in favor of PGG Wrightson Ltd. of New
Zealand to cover the cost, insurance and freight (CIF) value of the contract importation of 700 dairy
animals from New Zealand that will arrive in 2014.
Inventories (net) represent items such as office supplies, drugs and medicines and agricultural supplies
inventory which will eventually be recorded as expense upon issuance thus classified under
Prepayments, in compliance with Philippine Accounting Standard No. 2 (Inventories).
Guaranty deposits
Miscellaneous assets and deferred charges
269
2013
91,313
15,325
2012
(As Restated)
81,201
1,810
2013
4,400
2,800
1,696
245
41,426
157,205
Input tax
Semi expendable
Premium on acquired bonds
Deposit on containers
Others
2012
(As Restated)
4,397
2,770
2,767
248
68,309
161,502
Guaranty deposit includes guaranty bonds/deposits of NDA with Manila Electric Company and
Metropolitan Waterworks Sewerage System amounting to P1.792 million and guaranty deposits
recorded in the books of FTI, NFA, NIA-CF, PFDA and SRA amounting to P2.626 million, P56.038
million, P19.735 million, P6.112 million and P1.044 million, respectively. The guaranty deposit of
NFA amounting to P56.038 million includes P6.077 million for three months security deposits with
Amberland Corporation, P5.135 million for three months security deposit with Solid Triangle Sales
Corporation (STSC), and P5.723 million for two months security deposit and two months advance
rental with SRA. The security deposits with Amberland Corporation and STSC could not yet be
refunded due to the pending case in court handled by the Office of the Government Corporate Counsel
(OGCC).
Other current assets others account consists mainly of items in transit-empty sacks (MTS),
miscellaneous inventory, commodity held in trust, inventory miscellaneous (corn marketing assistance
program, cereal sweepings, damaged grains, damaged non-grains, fertilizer and rice donation-Japan)
recorded in the books of NFA amounting to P253.984 million. It also includes abnormal (negative)
balance carried in the books of NIA-CF amounting to P218.379 million which consists of inactive
negative cash in bank-current accounts transferred to this account in December 1997. It likewise
includes receivables under NIA funds 107, 102 and 101 transferred to the NIA-CF without details or
breakdown.
Loans receivable
Accounts receivable
Active programs receivable
Premiums receivable
Due from GOCCs
Due from NGAs
Guaranty receivable
Receivables - disallowances/charges
Installment receivables
Due from LGUs
Interest receivable
Long-term notes, accounts and other receivables
Dividends receivable
Due from officers and employees
Advances to officers and employees
Others
Allowance for doubtful accounts - long term
2013
635,340
426,462
362,146
315,665
148,532
145,801
60,107
35,065
30,117
14,937
10,398
3,307
1,611
152
41
447,811
(1,311,104)
1,326,388
2012
(As Restated)
597,967
427,388
371,436
315,665
147,464
147,994
60,107
35,266
7,834
6,232
12,773
3,777
1,611
112
76
449,402
(1,311,075)
1,274,029
Loans receivable includes P508.411 million recorded in the books of PHILSUCOR, which represents
portion of the loans receivable of PNB that were transferred to PHILSUCOR on February 15, 1984
pursuant to the Memorandum of Agreement (MOA) between PNB and PHILSUCOR. It also includes
270
the restructured loans granted to Gamboa Hermanos Farmworkers Multi-Purpose Cooperative and First
Farmers Holding Corporation that bear interest of 9.0 per cent and 10.0 per cent per annum, payable
over an extended period of 10 and 5 years, respectively. Also included in this account is the loan
extended by HSDC to four GOCCs, namely: LIVECOR, Philippine Genetics Incorporated,
WESAMARINE and PADCC totaling P126.929 million.
Accounts receivable consists mainly of amount recorded in the books of PCIC-SRTF amounting to
P404.833 million. Of this amount, P403.878 million classified under Accounts receivable Special
Guarantee Payment (SGP) represents the 85.0 per cent of the total amount recoverable by the Trust
Fund when claimant banks are eventually able to collect from farmer-borrowers. This account was
provided with 100 per cent allowance in 2007 after the collections were determined to be doubtful.
Active programs receivable represents program receivables of QUEDANCOR that will mature beyond
December 31, 2013.
Premiums receivable of PCIC pertains to the cumulative premium subsidy arrearages from the National
Government when RA No. 8175 was enacted in 1995. This consists of unappropriated and/or
unreleased government premium subsidy for policies written for the period from May 1, 1981 up to
1995. The receivable was programmed for payment by the National Government within a period of 10
years from 1996. The account also includes unpaid Government Premium Share from 1996 to 2011.
Due from GOCCs represents receivable of HSDC from various GOCCs and 100 per cent allowance
was provided for due from corporations that had stopped operations and corporations which the
abolition was approved by the Executive Secretary on November 26, 2013, namely: NABCOR,
PADCC and ZREC.
2013
56,376,506
2,011,956
1,558,280
300,000
215,000
965
154,369
(522,656)
60,094,420
2012
(As Restated)
80,349
1,527,190
1,083,087
200,000
215,000
965
154,369
(522,656)
2,738,304
Other investments and marketable securities account consists mainly of balance recorded in the books
of NIA-CF amounting to P56.265 billion representing cash advances made by the Bureau of the
Treasury (BTr) to California Energy Casecnan Water Electric Company, Inc. (CECWECI) for the
account of NIA for water deliveries under the Build, Operate and Transfer (BOT) scheme of the project
agreement entered into by and between CECWECI and NIA on November 13, 1994. The project was
aimed to: (i) divert certain water in the Casecnan Watershed and transfer that water into the Pampanga
watershed at the Pantabangan Reservoir for NIAs subsequent irrigation use in the Central Luzon
Valley, (ii) make available new installed electrical capacity and electrical energy to NPCs Luzon grid;
and (iii) increase electrical energy generation at the existing Pantabangan and Masiway facilities.
On June 26, 1995, NIA and CECWECI entered again into the Amended and Restated Project
Agreement to amend and restate in its entirety the original project agreement by reason of the General
Agreement on Tarrifs and Trade- Uruguay Round (GATT-UR) Agreement on agriculture and for NIA
to implement an accelerated irrigation program for the 1,500,000 hectares over the next 10 years.
271
Consequently, on June 30, 1995 a Power Purchase Agreement (PPA) was entered between NIA and the
National Power Corporation (NPC) relative to the energy delivery for 20 years of commercial
operation or such longer period as may be determined in accordance with the contract.
On September 29, 2003 NIA and CECWECI entered into another Supplemental Agreement regarding
the Amended and Restated Casecnan Project Agreement whereby the parties agreed to: (i) Excess
Energy Delivery Fees the excess energy fees chargeable by NIA to NPC shall be reduced to the
equivalent of the variable energy rates provided under this supplemental agreement, thereby resulting
in the accrual of the benefits relating to excess energy in favor of NPC (ii) Dispatch Protocol
assumption by NPC of all obligations of NIA relating to dispatch and contractual obligation for energy
and (iii) Cooperation on co-Minimization both parties acknowledged that the failure or inability to
prevent or reduce water spillage or wastage will increase both partys energy and water delivery fees to
CECWECI.
From the very start of the cooperation period in CY 2002 up to the present, the BTr advanced the
payment of NIAs contractual obligation upon approval of NIAs request by the Department of Finance
(DOF). However, Management stopped the recording of these advances effective CY 2009.
In a meeting called by the DOF on June 6, 2012 between the representatives from the BTr, NIA and
COA, it was agreed that NIA would book up the advances by debiting Other Investment - CE Casecnan
account and crediting Due to the National Treasury account.
Sinking fund pertains mainly to provision for long term bonds of NFA amounting to P2.012 billion
pursuant to Section 8 of PD No. 1770 dated January 14, 1981.
Investments in bonds consist mainly of investments made by PCIC with LBP and BTr amounting to
P484.375 million and P150 million, respectively, or totaling P634.375 million. Investment in LBP
Bonds of P94.625 million with term of 5.45 years at 7.0 per cent interest rate per annum will mature on
January 27, 2016, while P389.750 million with term of 4.54 years at 2.125 per cent interest rate per
annum will mature on May 23, 2018. The Investment in BTr Bonds of P50 million with term of 5.5
years at 3.125 per cent interest rate per annum will mature on May 5, 2019, while P100 million with
term of 10 years at 7.375 per cent interest rate per annum will mature on March 3, 2021.
Investments in stocks and bonds in the amount of P374.309 million recognized in the books of HSDC
represent investments made in various corporations. Of said amount, P273.506 million was invested
by HSDC to NABCOR. A 100 per cent allowance for impairment losses was provided for investment
in corporations which are no longer operational and those corporations which the abolition was
approved by the Executive Secretary in a Memorandum dated November 26, 2013. This account also
includes Investments in stocks amounting to P500.755 million recognized in the books of NFA
pursuant to Section 8 of PD No. 1770 dated January 14, 1981, which provided that the investments and
loans as well as related obligations incurred by HSDC in the FTI shall be transferred to the NFA; and
investment of NRDC with BFI and PMDC amounting to P160 million and P55 million, respectively.
The investment in BFI pertains to the net transfer value of assets consisting of Philippine cash
contributions per Deed of Assignment between NRDC and BFI dated July 24, 1992 amounting to P125
million and the share of the Philippine Government in the Exchange of Notes between the
Governments of New Zealand and the Philippines amounting to P35 million. The investment in
PMDC pertains to ownership of NRDC in the equity of PMDC equivalent to 44.0 per cent.
Investments in treasury bills/notes represent investments made by FTI and PCIC amounting to P100
million and P200 million, respectively. PCICs investment in Lower Tier 2 Subordinated Notes with
LBP consists of 7.25 per cent Unsecured Subordinated Notes due in 2019, Callable with Step-Up in
2014.
Other long-term investments-others account consists mainly of projects owned and implemented by
HSDC in 1980s, as the corporate arm of the then Ministry of Human Settlements. This account also
includes the investment made to Agro-System Development Corporation (ASDC)-Biotech Protein
Feed Project in General Santos City but operations were reportedly stopped due to continued losses and
272
lack of raw materials to process. A 100 per cent allowance for impairment losses was provided for
reason that these projects no longer exist.
Construction in progress
Land and land improvements
Building and improvements
Machineries and equipment
Office equipment, furniture and fixtures
Transportation equipment
Other property, plant and equipment
Public infrastructure - irrigations, canals and laterals
Leasehold improvements
Accumulated depreciation
2013
106,459,424
52,122,280
5,666,805
4,417,412
1,403,995
956,760
780,748
263,312
90,976
(24,893,073)
147,268,639
2012
(As Restated)
87,265,928
50,556,618
5,341,093
4,211,349
1,332,802
898,917
743,535
235,602
84,517
(20,408,195)
130,262,166
Cost of ongoing irrigation projects of NIA amounting to P91.196 billion recorded under the
NIA-GF, which consists of irrigation canals and laterals, artesian wells and reservoirs, and
other public infrastructures funded by foreign borrowings and by the National Government.
This account is composed of direct labor, direct materials, overhead, land, project contracts
cost, equipment and consultancy cost in the implementation of various projects. Several
completed projects were still included in this account balance pending the completion of the
documentary requirements for the transfer of the cost of CIP to the proper PPE accounts.
b.
Cost of CARP projects released by DAR to NIA consisting of ongoing irrigation canals and
laterals recorded under Special Fund valued at P1.276 billion.
c.
Cost of projects implemented out of the project funds directly released to NIA by the
Department of Budget and Management (DBM) amounting to P9.066 billion recorded under
the NIA-CF.
d.
Cost of ongoing and completed projects of PFDA amounting to P240.322 million but not yet
turned over to the beneficiaries. These projects were funded out of trust funds received from
the Bureau of Fisheries and Aquatic Resources (BFAR) and Department of Agriculture (DA).
Cost of completed irrigation projects such as canals, laterals, dams and other irrigation
facilities funded by foreign borrowings and by the National Government which were recorded
in the books of NIA-GF amounting to P15.644 billion.
b.
Cost of irrigation canals and laterals constructed under CARP, Agrarian Reform Communities
Development Project (ARCDP), Agrarian Reform Infrastructure Support Project (ARISP) ARISP I and ARISP II recorded in the books of NIA Special Fund (Fund 158) amounting to
P699.521 million.
c.
Cost of completed irrigation projects amounting to P27.713 billion recorded under NIA-CF
which had generally redounded to the benefit of the farmers in terms of serviced areas. This
also includes those funded out of appropriations from the National Government through the
DPWH and the DA in 1990 up to 1996. It likewise includes cost of farm to market roads in
273
various Local Government Units (LGUs), financed out of the P346 million proceeds of loan
from NDC.
d.
Cost of land and land improvements recorded in the books of FTI amounting to P6.392
billion, inclusive of the remaining balance of Appraisal Capital amounting to P6.350 billion
representing appraisal increase on FTI property booked up in 2009 based on Valencia
appraisal in 1996 where land was appraised at P15,000 per square meter compared to current
zonal valuation of P35,000 to P75,000 per square meter.
Likewise, FTIs total land area in the FTI Complex was reduced to only 45.92 hectares from
119.92 hectares due to the sale of 74 hectares to Ayala Land, Inc. in 2012 as discussed under
Note 5. The land area is divided as follows:
e.
Hectares
27.46
11.80
5.58
1.08
45.92
Land and Land Improvements in the amounts of P769.551 million, P227.359 million and
P256.454 million carried in the books of NFA, PFDA and PRRI, respectively.
Building and improvements account includes pieces of property recorded in the books of NFA, NIACF, FTI, HSDC, PFDA and PRRI amounting to P2.242 billion, P1.437 billion, P262.262 million,
P113.535 million, P193.204 million and P659.111 million, respectively.
Machineries and equipment account consists mainly of the balances recorded in the books of NFA,
NIA-GF, NIA-CF, PFDA, PMDC, PRRI and SRA amounting to P1.262 billion, P953.519 million,
P1.035 billion, P170.400 million, P271.998 million, P208.964 million and P177.849 million,
respectively, representing machineries, agricultural, fishery and forestry equipment, construction and
heavy equipment, technical and scientific equipment and medical, dental and laboratory equipment. Of
the P271.998 million carried in the books of PMDC, P252.558 million represents exploration and
evaluation assets consisting primarily of victory tunnel and mining equipment with an appraised value
of P224.415 million. The acquisition of the Victory tunnel and mining equipment for use in
conducting and expediting core drilling at the 600-meter-level of the Diwalwal Mineral Reservation
Area was covered by a Memorandum of Agreement (MOA) executed on December 23, 2003 by and
between PMDC (then Natural Resources Mining Development Corporation) and JB Management
Mining Corporation (JBMMC).
Public infrastructure (irrigations, canals and laterals) pertains to completed projects recorded in the
books of NIA-SF.
2013
6,119,353
343,204
180,030
90,912
64,916
36,734
31,134
28,634
Other assets
Acquired assets
Forest/tree plantation
Assets held in trust
Restricted funds/assets
Garnished/foreclosed assets
Construction in progress - agency assets
Other investment
274
2012
(As Restated)
5,612,815
437,828
180,030
90,912
146,137
28,126
31,134
28,634
Unserviceable assets
Items in transit
Finished good, office supplies, merchandise and other
office supplies inventory
Other receivables
Deferred charges
COA disallowances
Merchandise for disposal
Guaranty deposits
Work/other animals
Breeding stocks
Other non-current assets
Allowance for doubtful accounts, depreciation,
valuation or losses
2013
16,142
15,845
2012
(As Restated)
13,143
15,845
12,851
12,783
8,697
6,500
1,118
1,082
629
248
84
12,851
12,997
6,868
6,506
732
677
4,511
84
(340,533)
6,630,363
(340,770)
6,289,060
Of the Other assets account of P6.119 billion, P4.232 billion or 69.16 per cent represents amount
carried in the books of NFA which consists mainly of stock shortages and other receivables
contingent assets amounting to P2.995 billion and P1.133 billion, respectively. This account also
includes PCAs trust assets Coconut Industry Stabilization Fund (CISF) amounting to P718.993
million where Management has already requested from the Commission on Audit for the write-off of
the account balances in the CISF books which was returned for submission of required documents.
The request for write-off was based on the following reasons:
a.
The high-yield cash account of CISF in the amount of P489,284 has already been transferred
to Corporate Fund 503 per JEV No. 503-1301-049 dated January 2013; and
b.
Management has analyzed/evaluated the final disposition of the CISF accounts in the Trial
Balance, premised on the reason that persons involved in the collection and management of
the fund had either retired or were already deceased, with no proper turnover of
accountabilities and necessary records. Based on the results of said evaluation/analysis and
due to lack/unavailability of supporting documents which the present accounting personnel
could rely on, proper adjusting/closing entries shall be made following the provisions of COA
Circular No. 97-001 dated February 5, 1997, Re: Guidelines on the proper disposition/closure
of dormant funds and/or accounts of National Government Agencies.
It also includes amount carried in the books of FTI totaling P164.207 million representing accounts
receivable from former lessees of P148.360 million, COA disallowance in post audit of P13.475
million and miscellaneous contingent assets of P2.372 million. Moreover, in the books of HSDC, the
amount of P184.985 million includes the uncollected matured placements amounting to P50.817
million from Trustee with cases to recover these accounts being handled by the Office of the
Government Corporate Counsel (OGCC) and still pending in various courts, Cash-Inter-agencyTransferred of P40.598 million, representing cash advances granted by HSDC to various
agencies/corporations and regions for the implementation of the Rural Bliss Program, Special Bliss
Program and Shelter/Livelihood Project Operations. The settlement of the cash advances is doubtful
since these were non-moving for several years and documents to support them could no longer be
located, hence, a 100 per cent allowance was provided pursuant to HSDC Board Resolution No. 2003034. Likewise included is Cash-treasury/agency account-current deposits amounting to P36.404
million, which pertain to funds for the Rural Bliss Project, that had been non-moving as submission of
reports of disbursements of various regional liaison offices became nil since these offices were
dissolved during then President Corazon Aquino Administration and the whereabouts of personnel
involved in the project could no longer be determined.
Further, Other assets account includes renovation/construction works done by NRDC amounting to
P90.067 million for various buildings not owned or used by NRDC, including the L & S Building in
275
Manila, Mt. Arayat National Park in Pampanga, training centers in Quezon City and Nueva Ecija and
other buildings located in Tarlac and Pampanga.
Acquired assets account consists mainly of mortgages subsequently foreclosed by QUEDANCOR from
defaulting borrowers amounting to P323.224 million. The foreclosed properties consist of several real
and personal properties of borrowers under the Intensified Rice Production Program (IRPP),
Livelihood Financing for Employees Program (LIFE), Agri-Aqua and Production (CAMP), Livelihood
Aqua-Marine Productivity (LAMP), Joint Agribusiness Venture (JAV), Fisherfolk Integrated
Livelihood Program (FILP), Barangay Marketing Center (BMC), Credit Guarantee Program (CGP),
Rice and Corn Based Financing System (RCBFS) and the GMA-CARES Program.
2013
82,754,945
28,174,318
16,435,493
8,705,970
5,454,938
4,820,480
2,450,066
2,308,951
622,928
463,718
375,825
257,112
237,613
222,141
221,454
151,225
98,991
92,501
45,368
14,578
8,756
7,368
6,782
5,736
3,040
479
146
102
90
153,941,114
2012
(As Restated)
21,433,752
28,782,773
16,626,105
5,685,951
5,009,372
4,585,298
2,450,066
1,731,079
630,517
399,665
381,607
355,820
165,687
222,140
193,316
81,089
107,040
326,045
39,403
14,578
8,597
7,591
7,145
8,272
3,679
479
834
90
89
89,258,079
Due to National Treasury includes the P25.469 billion liability of NFA which consists primarily of
guarantee fees payable to the Bureau of the Treasury (BTr) in the amount of P5.839 billion and
advances made by the BTr for the settlement of NFAs short-term loans through net lending program
amounting to P18.850 billion and proceeds of USPL 480 rice of P46.223 million. This account also
includes the liability of NIA-CF to the National Treasury amounting to P56.810 billion representing
cash advances made by the BTr on account of NIA for payment of water delivery fees to California
Energy Casecnan Water Electric Company, Inc. (CECWECI) and advance payments made by the BTr
for domestic and foreign loans availed by PFDA amounting to P408.459 million.
276
Notes payable pertains mainly to the short-term credit lines availed by the NFA from different banks to
finance the rice importation activities of the agency amounting to P28.101 billion.
Due to other NGAs consists mainly of trust receipts of NIA-CF from national government agencies
(i.e. DA and DPWH) amounting to P13.122 billion to finance specific projects or to pay specific
obligations, subject to liquidation to the source agencies. Also included is the liability recorded in the
books of NFA amounting to P673.421 million. It also includes the amounts recognized in the books of
PFDA, NFA, NDA and ZREC of P942.377 million, P673.421 million, P494.892 million and P331
million, respectively, for the implementation of various government programs/projects.
Accounts payable includes liability of NIA-GF and NIA-CF to various creditors, who are either foreign
or local contractors, on their project accomplishments, and to suppliers for the delivery of goods in the
amount of P4.822 billion and P1.405 billion, respectively. This account also includes NFAs liability
to farmers and private contractors amounting to P1.424 billion. The books of accounts of FTI, PCA,
PCIC, and PRRI also reported the amount of P109.100 million, P422.494 million, P132.995 million
and P159.893 million, respectively, as balances of accounts payable as of December 31, 2013. The
amount of P109.100 million recorded in FTIs books consists mainly of accrual for deficiency value
added tax (VAT) and Income Tax, various maintenance and other operating expenses incurred which
are due for payment the following year.
Interest payable consists mainly of the P2.537 billion interest on Bonds payable of PHILSUCOR and
accrued interest recognized by QUEDANCOR and NFA on their loans/notes payable to various banks
amounting to P1.007 billion and P1.282 billion, respectively. Also included is interest charged on
advances made by the BTr to PFDA totaling P564.586 million in compliance with COA Audit
Observation Memorandum No. 2012-08-CO dated April 30, 2013, thus increasing the balance of
Interest payable of PFDA to P583.979 million.
Loans payabledomestic account pertains mainly to the current portion of the long-term debt of
QUEDANCOR amounting to P4.820 billion which includes current portion of loan extended by the
Land Bank of the Philippines (LBP) and Department of Agriculture (DA) amounting to P2.419 billion
and P1.721 billion, respectively.
Bonds payable represents bonds issued by PHILSUCOR in accordance with PD No. 1890 and as
authorized by the Central Bank, it floated on February 15, 1984 bonds totaling P3 billion. The bonds,
which are fully and unconditionally guaranteed by the then Philippine Sugar Commission as to
principal and interest, bear a four per cent interest per annum and are payable within 30 years. The
bonds were issued to PNB in consideration for the transfer to PHILSUCOR of the P3 billion accounts
of the various sugar mill corporations with PNB.
Accrued expenses payable account consists mainly of the balance recorded in the books of accounts of
QUEDANCOR amounting to P2.298 billion.
Guaranty deposits payable consists of 10 per cent retention fee due to contractors which are currently
retained by six GOCCs, namely: FTI, PCIC, PFDA, PMDC, QUEDANCOR and SRA and rental
deposits for leasing operations.
277
benefits of Central and Regional Offices and savings account with negative balances, which have been
dormant since 1989, and miscellaneous trust liabilities which were reclassified to this account; and
P607.709 million under NIA-GF books representing accrual of terminal leaves of project personnel,
equity of LGUs, Irrigators Associations and NIA Employees Union contributions, retention fees on
contracts covering other projects/regional offices, and other payables not properly identified in other
liability accounts.
2012
(As Restated)
121,152,818
655,680
121,808,498
Loans payable domestic consists primarily of the loans availed by the NFA from various banks
amounting to P107.330 billion, majority of which will mature in 2021. It also includes domestic loans
of NIA-CF in the amount of P6.360 billion payable to the BTr representing payments made by the BTr
to lending banks in favor of NIA. The BTr periodically forwards notices of payments to NIA, which
serve as basis of the latter in the recording of advances made by the former. Most of these payments
cover only the interest incurred on loans. The account likewise includes loans availed by NIA-CF
from the National Development Company (NDC) amounting to P4.875 billion and loans availed by
QUEDANCOR from Department of Agriculture (DA) with outstanding balance of P363.650 million as
of December 31, 2013. The QUEDANCOR loan from DA consists of P437 million Rice and Corn
Based Financing System funds, of which P287 million has matured and was reclassified to Current
Liabilities, P110 million Sugar Farm Modernization Fund, P22 million Agrikulturang MakamasaCORN, and P81.650 million for the implementation of the credit and guarantee needs of various
flagship programs of the DA.
Moreover, included under Loans payable domestic account is the amount of P152.768 million carried
in the books of PMDC, P55 million of which represents the remaining amount payable to JB
Management Mining Corporation (JBMMC) for the Victory tunnel and mining equipment as stipulated
in the Memorandum of Agreement (MOA) dated December 23, 2003 while the amount of P97.768
million pertains to loans availed from National Development Corporation (NDC), consisting of two
P25 million loans granted in August 2005 and November 2006. These loans carry two-year terms, and
subject to 12 per cent interest per annum, payable in semi-annual installments. As at December 31,
2012, interest costs incurred amounted to P22,483,331 for the first P25 million loan and P17,149,998
for the second P25 million loan or a total of P39,633,329.
Loans payable foreign represents foreign loans availed by NFA, NIA-CF and PFDA amounting to
P277.036 million, P271.254 million and P44.841 million, respectively. The foreign loan of NFA
consists of the 1995 Japanese Rice Loan amounting to Y541.355 million, at two per cent per annum on
the 1st to 10th year and three per cent per annum from 11 th to 30th year (with 10 years grace period)
annual installments of Y27.068 million starting July 31, 2006 to July 31, 2025; and the 1996 USPL 480
at three per cent per annum for the 1st to 5th year and four per cent per annum for the 6 th to 20th year
(with a four year grace period) annual installments of $937,393. On the other hand, the foreign loan of
NIA-CF represents loans availed from the Asian Development Bank (ADB), International Bank for
Reconstruction and Development and International Fund for Agricultural Development with
outstanding balances as of December 31, 2013 amounting to P139.040 million, P83.155 million and
P49.059 million, respectively. The foreign loan of PFDA consists of Asian Development Bank (ADB)
Loan No. 628 PHI, Overseas Economic Cooperation Fund (OECF) Loan No. PH P69 and
International Bank for Reconstruction and Development (IBRD) Loan No. 2156 PHP with balances
amounting to P15.040 million, P12.944 million and P16.857 million, respectively.
278
2013
714,751
187,537
9,574
1,542
500
206
99
337,754
1,251,963
2012
(As Restated)
696,460
187,537
8,359
953
500
206
99
85,038
979,152
Due to Other NGAs account includes the P523.922 million trust liability of QUEDANCOR to
Agricultural Credit Policy Council (ACPC), composed of P123.922 million guarantee fund for the
Integrated Farming System, another flagship program of the DA, P300 million for GMA-CARES
Program, and P100 million Agriculture and Fisheries Guarantee Fund, another guarantee program
activity. Moreover, this account includes liability of PCIC to NGAs totaling P185.829 million,
particularly COA and ACPC-Gintong Ani Program amounting to P89.090 million and P76.077 million,
respectively, and P20.662 million representing advance premium payments of various municipalities.
Claims payable represents remaining unpaid portion of claims for Special Guarantee Payment (2 nd and
3rd installments) of the banks carried in the books of PCIC-SRTF.
279
2012
(As Restated)
2013
21,094,177
3,056,547
645,022
121,734
837,045
25,754,525
Business income
Service income
Permits and licenses
Gain/premiums
Other income
2012
(As Restated)
19,180,573
2,773,538
648,252
12,941
28,390,022
51,005,326
Business income consists mainly of sales revenue of NFA amounting to P19.233 billion. Also included
are insurance premiums earned by PCIC amounting to P720.674 million representing net underwriting
income and rental income earned by PFDA and FTI amounting to P342.147 million and P179.131
million, respectively. This account also includes royalty fees earned by PMDC from the Dinagat
Nickel-Chromite project amounting to P125.689 million. The other business income includes, among
others, income earned from canteens/restaurants/dormitories/guest houses/cottages/markets, fines and
penalties.
Service income for the current year pertains mainly to irrigation fees (net), water and
communal/reservoir irrigation system amortization and equity earned by NIA-CF amounting to P1.554
billion, P460.799 million and P329.455 million, respectively. It also includes monitoring fees and
clearance/certification fees earned by SRA amounting to P201.095 million and P48.300 million,
respectively; and consultancy/management/research fees earned by NIACI amounting to P24.717
million.
Permits and licenses consist mainly of income earned by NTA, PCA, PFDA and SRA for issuing
permits and licenses to their clients amounting to P97.011 million, P342.131 million, P79.644 million
and P125.088 million, respectively.
Other income includes income earned on sinking fund of PHILSUCOR amounting to P216.459 million
and interest income earned on investments/loans of other GOCCs included in this report.
20. PERSONAL SERVICES
2013
3,208,390
1,023,118
455,510
695,002
5,382,020
2012
(As Restated)
3,268,130
1,029,764
443,717
772,960
5,514,571
2013
20,974,268
1,596,216
1,239,513
1,152,006
1,070,056
897,853
494,939
428,283
251,839
196,514
2012
(As Restated)
22,332,165
2,854,156
1,563,870
828,581
899,471
820,077
490,570
191,895
103,351
89,866
280
Traveling expenses
Taxes, insurance premiums and other fees
Handling
Storage expenses
Communication expenses
Rent expenses
Transportation and delivery expenses
Training and scholarship expenses
Donations
Rewards and other claims
Miscellaneous expenses
Advertising expenses
Representation expenses
Confidential, intelligence and extraordinary
expenses
Printing and binding expenses
Subscription expenses
Awards and indemnities
Board of Director's allowance
Membership dues and contributions to organizations
Insurance benefits
Survey expenses
Research, explorations and development expenses
Subsidies and donations
Impairment loss
Others
2013
194,903
159,119
152,732
119,978
79,702
74,951
64,594
47,316
44,989
18,620
13,840
13,151
12,705
2012
(As Restated)
172,835
186,398
131,018
214,731
75,273
84,236
41,870
41,891
1,848
151,435
16,601
11,671
12,788
12,456
7,600
1,056
756
660
571
430
212
72
3
811,992
30,133,895
7,196
5,891
2,462
500
418
776
499
123
226
326
28,634
482,163
31,845,811
2013
6,219,456
133,978
803
36
1,956,907
8,311,180
2012
(As Restated)
7,234,103
135,105
2,104
35
2,000,221
9,371,568
Interest expenses
Documentary stamp tax expenses
Bank charges
Foreign exchange risk fee
Others
Interest expenses pertain mainly to interest recognized on the loans availed by NFA from various banks
and creditors amounting to P5.394 billion. It also includes interest recognized on multi-series bonds
and corporate notes availed by QUEDANCOR from various banks and creditors amounting to
P269.752 million and interest on bonds payable of PHILSUCOR amounting to P105.540 million.
Financial expenses others include guarantee fees of P1.376 billion recorded in the books of accounts
of NFA. Also included is the amount of P580.501 million reflected in QUEDANCORs books
representing penalties on multi-series bonds and corporate notes.
23. OTHER EXPENSES
2013
2,393
Dividend expense
281
2012
(As Restated)
2,319
2,330
847
5,570
26,955
79
1,871,012
1,900,365
Extraordinary expenses of P1.871 billion in 2012 represent mainly of expenses related to the sale of the
74 hectares FTI property amounting to P1.868 billion and payment made to Trade Agriculture
Organization Development, Inc. for the case against FTI amounting to P1.877 million.
2013
37,763,147
1,866
37,765,013
2012
(As Restated)
34,901,366
991
394
34,902,751
282
Schedule 1
Corporate Government Sector
Cluster 5- Agricultural and Natural Resources
List of Government Owned and Controlled Corporations
Name of Agency
Audit Group A - National Food Authority
Acronym
Name of Auditor
Cora D. Marquez
NFA
Subsidiary:
Food Terminal, Inc.
FTI
NIA-GF
NIA-CF
NIA-SF
NIACI
Marita A. Yap
PCA
SRA
PHILSUCOR
Divina M. Telan
PFDA
NDA
10
NTA
283
Enabling Law/Creation
State Auditor IV
Position
State Auditor V Supervising Auditor
State Auditor IV
Name of Agency
Acronym
Audit Group E - Natural Resources and Technology Group
11 Human Settlements Development Corporation
12
Subsidiaries:
National Agribusiness Corporation
NABCOR
State Auditor IV
PADCC
14
ZREC
NRDC
16
Subsidiaries:
Philippine Forest Corporation
PFC
17
PMDC
Edita S. Manota
Jesusa B. Aleste
PCIC
PCIC-SRTF
State Auditor IV
Position
Enabling Law/Creation
State Auditor IV- OIC
Supervising Auditor
State Auditor IV
PD No. 1396 dated June 2, 1978
HSDC
13
Name of Auditor
Merle M. Valentin
Filomena P. Dimaunahan
Elvira E. Datu
State Auditor IV
BFI
PRRI
Felicidad D. Torayno
Merlita M. Carlos
State Auditor IV
State Auditor III Designated OIC
284
Financial
Statements
of
GOCCs
(Cluster 6)
Philippine Center
Notes
Assets
Current assets
Cash and cash equivalents
Short-term investments
Receivables (net)
Inventories (net)
Prepayments and deferred charges
Others
2013
2012
77,202,729
55,885,695
8,849,126
10,595,788
1,487,877
280,531
103,712
68,908,139
50,855,892
6,750,040
9,281,224
1,545,904
395,676
79,403
171,122,587
1,237,331
117,195,157
27,644
62,302
43,670,613
8,929,540
153,693,142
1,292,054
109,166,547
23,279
86,623
35,312,355
7,812,284
248,325,316
222,601,281
69,164,789
54,444,605
52,012,103
2,432,502
59,644,958
44,654,047
42,053,653
2,600,394
14,720,184
110,000
1,530,001
619,737
12,460,446
14,990,911
130,000
1,266,401
863,238
12,731,272
Equity
179,160,527
162,956,323
248,325,316
222,601,281
2
3
4
5
6
7
Non-current assets
Long-term receivables (net)
Long-term investments (net)
Intangible assets
Miscellaneous assets and deferred credits
Property, plant and equipment (net)
Others
9
10
TOTAL ASSETS
Liabilities and equity
Liabilities
Current liabilities
Trade and non-trade payables
Others
11
Non-current liabilities
Mortgage payable
Loans and advances payable
Deferred credits
Others
12
13
287
CITEM
2012
(As Restated)
2013
CITC
2012
2013
CCP
2012
(As Restated)
2013
2012
(As Restated)
177,078
124,200
34,897
15,546
339
2,096
117,875
42,104
41,302
32,259
541
1,669
183,486
154,470
26,688
381
43
1,904
179,143
161,747
13,772
389
2,104
1,131
5,523
4,398
1,125
-
3,041
1,800
1,224
17
-
335,653
148,998
151,894
22,520
8,111
564
3,566
336,453
151,270
149,262
25,497
8,076
1,101
1,247
Non-current assets
Long-term receivables (net)
Long-term investments (net)
Intangible assets
Miscellaneous assets and deferred credits
Property, plant and equipment (net)
Others
2,912,018
600,000
1,552,435
759,514
69
2,955,835
600,000
1,556,210
768,463
31,162
311,216
42
27,668
283,506
307,010
42
25,731
281,237
35,147
21
19,864
15,262
35,800
21
20,517
15,262
1,150,037
3,248
1,095,991
50,798
1,164,743
3,248
1,110,696
50,799
TOTAL ASSETS
3,089,096
3,073,710
494,702
486,153
40,670
38,841
1,485,690
1,501,196
90,677
77,564
77,548
16
89,424
76,311
75,927
384
85,511
81,014
77,414
3,600
78,405
65,874
59,924
5,950
10,086
10,086
6,583
3,503
7,577
7,577
4,094
3,483
191,628
173,443
97,875
75,568
194,149
191,936
115,847
76,089
Non-current liabilities
Mortgage payable
Loans and advances payable
Deferred credits
Others
13,113
13,113
13,113
13,113
4,497
4,497
-
12,531
12,531
-
18,185
18,185
-
2,213
2,213
-
Equity
2,998,419
2,984,286
409,191
407,748
30,584
31,264
1,294,062
1,307,047
3,089,096
3,073,710
494,702
486,153
40,670
38,841
1,485,690
1,501,196
288
DFPC
2012
(As Restated)
2013
IBC
2012
(As Restated)
2013
LCP
2012
(As Restated)
2013
2012
Assets
Current assets
Cash and cash equivalents
Short-term investments
Receivables (net)
Inventories (net)
Prepayments and deferred charges
Others
297,609
21,243
61,000
172,606
3,517
37,328
1,915
408,803
27,885
195,000
151,590
4,426
27,627
2,275
2,269,672
1,625,980
241,417
392,958
9,317
-
2,015,508
1,475,296
273,041
259,541
7,630
-
163,610
26,164
136,869
577
191,624
25,929
164,708
987
424,992
245,371
155,338
22,099
2,184
-
466,780
255,093
191,291
18,690
1,706
-
Non-current assets
Long-term receivables (net)
Long-term investments (net)
Intangible assets
Miscellaneous assets and deferred credits
Property, plant and equipment (net)
Others
336,666
155,007
180,993
666
169,739
7
168,216
1,516
747,702
1,146
124,323
622,233
823,415
1,146
103,982
718,287
364,429
244,000
97,662
22,767
371,806
244,000
106,217
21,589
4,426,314
4,426,314
-
4,304,343
4,304,343
-
TOTAL ASSETS
634,275
578,542
3,017,374
2,838,923
528,039
563,430
4,851,306
4,771,123
352,270
161,175
116,799
44,376
300,648
140,972
92,740
48,232
2,507,895
2,498,669
2,492,560
6,109
2,416,727
2,402,836
2,402,283
553
1,259,370
601,684
601,684
-
1,233,809
594,037
594,037
-
454,352
344,352
273,519
70,833
526,572
392,952
342,370
50,582
Non-current liabilities
Mortgage payable
Loans and advances payable
Deferred credits
Others
191,095
156,646
34,449
159,676
128,762
30,914
9,226
9,226
-
13,891
615
13,276
-
657,686
75,000
582,686
639,772
75,000
564,772
110,000
110,000
-
133,620
130,000
3,620
Equity
282,005
277,894
509,479
422,196
(731,331)
(670,379)
4,396,954
4,244,551
634,275
578,542
3,017,374
2,838,923
528,039
563,430
4,851,306
4,771,123
289
NPF
2012
Assets
Current assets
Cash and cash equivalents
Short-term investments
Receivables (net)
Inventories (net)
Prepayments and deferred charges
Others
1,649,235
1,116,675
425,708
106,852
-
1,627,418
957,603
375,807
294,008
-
337,167
330,574
5,928
609
56
-
373,400
366,683
5,691
857
169
-
980,393
798,767
172,230
5,974
3,422
-
877,440
687,473
181,034
5,511
3,422
-
179,255
54,997
34,702
17,481
72,075
152,913
59,107
35,385
6,949
51,472
Non-current assets
Long-term receivables (net)
Long-term investments (net)
Intangible assets
Miscellaneous assets and deferred credits
Property, plant and equipment (net)
Others
2,816,935
2,805,369
11,566
1,839,461
1,829,128
10,333
9,259,799
52
9,257,006
2,741
2,453,008
52
2,451,363
1,593
16,252,397
15,808,269
189,380
254,748
15,028,036
14,536,669
194,154
297,213
806,030
248,418
524,878
32,734
815,593
288,943
493,916
32,734
TOTAL ASSETS
4,466,170
3,466,879
9,596,966
2,826,408
17,232,790
15,905,476
985,285
968,506
974,465
969,749
721,351
248,398
1,112,727
1,111,115
619,222
491,893
30,119
30,119
25,563
4,556
29,990
26,806
22,115
4,691
649,797
649,797
597,308
52,489
600,266
600,266
558,248
42,018
587,325
510,419
490,005
20,414
568,873
480,096
457,538
22,558
4,716
4,716
-
1,612
1,612
-
3,184
3,184
-
76,906
76,906
-
88,777
88,777
-
Equity
3,491,705
2,354,152
9,566,847
2,796,418
16,582,993
15,305,210
397,960
399,633
4,466,170
3,466,879
9,596,966
2,826,408
17,232,790
15,905,476
985,285
968,506
Non-current liabilities
Mortgage payable
Loans and advances payable
Deferred credits
Others
2012
290
2013
PTNI
2013
2013
OWWA
2012
2013
2012
(As Restated)
2012
(As Restated)
PCED
2013
PCSO
2012
2013
PCMC
2012
(As Restated)
2013
2012
(As Restated)
Assets
Current assets
Cash and cash equivalents
Short-term investments
Receivables (net)
Inventories (net)
Prepayments and deferred charges
Others
13,549,944
11,135,220
1,920,069
340,649
154,006
-
11,403,272
9,286,534
1,407,024
447,850
261,864
-
60,050
32,081
9,228
18,313
306
122
-
67,552
29,941
15,616
21,259
453
283
-
13,479,439
12,361,886
270,092
635,931
194,891
2,234
14,405
11,369,353
10,560,700
253,008
363,316
174,629
3,127
14,573
695,719
541,332
75,895
68,417
10,075
-
800,740
625,315
135,188
38,607
1,630
-
Non-current assets
Long-term receivables (net)
Long-term investments (net)
Intangible assets
Miscellaneous assets and deferred credits
Property, plant and equipment (net)
Others
22,971,375
50,636
143,172
20,203,771
2,573,796
22,998,907
55,729
43,175
19,825,450
3,074,553
82,131
66,526
15,605
-
71,820
65,776
6,044
-
2,638,870
1,543,639
652,491
442,740
1,833,785
400,405
1,042,917
390,463
457,703
457,212
491
285,423
284,937
486
TOTAL ASSETS
36,521,319
34,402,179
142,181
139,372
16,118,309
13,203,138
1,153,422
1,086,163
20,252,676
8,440,353
7,493,167
947,186
19,827,256
7,727,936
6,885,913
842,023
3,955
3,955
3,955
-
627
627
627
-
12,184,730
12,173,185
11,719,689
453,496
11,749,178
11,741,021
11,331,397
409,624
547,869
547,376
474,117
73,259
396,897
396,462
329,443
67,019
Non-current liabilities
Mortgage payable
Loans and advances payable
Deferred credits
Others
11,812,323
38,078
11,774,245
12,099,320
36,184
12,063,136
11,545
11,545
-
8,157
8,157
-
493
493
-
435
435
-
Equity
16,268,643
14,574,923
138,226
138,745
3,933,579
1,453,960
605,553
689,266
36,521,319
34,402,179
142,181
139,372
16,118,309
13,203,138
1,153,422
1,086,163
291
PHC
2012
(As Restated)
2013
PIDS
2012
2013
PITAHC
2012
2013
2012
(As Restated)
Assets
Current assets
Cash and cash equivalents
Short-term investments
Receivables (net)
Inventories (net)
Prepayments and deferred charges
Others
32,835,648
19,615,864
8,146,676
5,019,411
53,697
-
32,973,521
22,116,115
6,015,045
4,805,154
37,207
-
852,775
256,622
373,134
209,735
13,236
48
962,309
335,066
385,410
192,121
49,663
49
679,974
132,884
34,634
511,258
612
586
-
724,792
205,607
2,109
515,667
453
956
-
226,749
147,202
43,693
26,766
5,753
3,335
209,392
146,840
25,250
24,714
10,117
2,471
Non-current assets
Long-term receivables (net)
Long-term investments (net)
Intangible assets
Miscellaneous assets and deferred credits
Property, plant and equipment (net)
Others
98,406,630
97,072,237
27,644
62,302
1,106,581
137,866
93,025,474
91,720,591
23,279
86,623
1,067,477
127,504
1,307,181
31,296
1,267,510
8,375
1,180,255
29,631
1,142,248
8,376
454,525
355,615
98,903
7
299,233
286,819
12,394
20
108,974
97,431
11,543
89,162
89,092
70
131,242,278
125,998,995
2,159,956
2,142,564
1,134,499
1,024,025
335,723
298,554
15,597,830
15,357,645
15,357,645
-
12,044,702
11,524,384
11,524,384
-
839,528
797,090
584,675
212,415
790,479
736,933
584,731
152,202
590,119
589,291
560,660
28,631
572,142
570,908
558,125
12,783
22,743
22,708
22,541
167
15,056
15,056
14,861
195
240,185
240,185
-
520,318
520,318
-
42,438
42,438
-
53,546
53,546
-
828
828
-
1,234
1,234
-
35
35
-
Equity
115,644,448
113,954,293
1,320,428
1,352,085
544,380
451,883
312,980
283,498
131,242,278
125,998,995
2,159,956
2,142,564
1,134,499
1,024,025
335,723
298,554
TOTAL ASSETS
Liabilities and equity
Liabilities
Current liabilities
Trade and non-trade payables
Others
Non-current liabilities
Mortgage payable
Loans and advances payable
Deferred credits
Others
292
PPI
2012
4,216,800
4,202,681
9,314
418
4,387
-
1,889,772
1,872,914
11,659
437
4,762
-
180,737
43,475
92,858
28,548
15,856
-
43,006
3,918
28,850
939
9,299
-
945,031
734,952
175,602
24,848
4,864
3,123
1,642
706,243
552,109
120,000
27,722
2,272
2,508
1,632
754,910
671,488
83,422
-
687,244
606,648
80,596
-
147,870
62,859
2,432
82,579
147,598
62,859
1,868
82,871
2,214
2,214
-
3,088
3,088
-
3,661,954
2,408
30,988
36,865
3,591,693
2,154,596
2,484
73,164
37,026
2,041,922
1,135,230
335,869
113,766
34,183
651,412
1,115,105
344,898
131,211
40,656
598,340
TOTAL ASSETS
4,364,670
2,037,370
182,951
46,094
4,606,985
2,860,839
1,890,140
1,802,349
4,182,086
4,171,853
4,097,771
74,082
1,856,404
1,846,604
1,807,235
39,369
486,283
193,148
160,636
32,512
358,201
339,095
30,072
309,023
3,706,994
3,648,843
3,634,029
14,814
2,199,956
2,153,549
2,147,336
6,213
2,730,652
1,565,930
1,556,798
9,132
2,591,955
1,428,237
1,419,100
9,137
10,233
10,233
9,800
21
9,779
293,135
275,323
17,812
19,106
19,106
58,151
57,725
426
46,407
46,053
354
1,164,722
1,137,240
27,482
1,163,718
1,137,240
26,478
182,584
180,966
(303,332)
(312,107)
899,991
660,883
4,364,670
2,037,370
182,951
46,094
4,606,985
2,860,839
Non-current assets
Long-term receivables (net)
Long-term investments (net)
Intangible assets
Miscellaneous assets and deferred credits
Property, plant and equipment (net)
Others
Non-current liabilities
Mortgage payable
Loans and advances payable
Deferred credits
Others
Equity
TOTAL LIABILITIES AND EQUITY
293
2012
2013
TRC
2013
Assets
Current assets
Cash and cash equivalents
Short-term investments
Receivables (net)
Inventories (net)
Prepayments and deferred charges
Others
2013
PRA
2012
2013
(840,512)
1,890,140
2012
(789,606)
1,802,349
VFP
2012
2013
2012
1,555,850
1,212,645
339,363
2,259
1,583
236,730
227,094
5,844
2,448
13
1,331
165,430
145,526
18,251
668
419
566
83,815
75,101
7,943
205
566
148,392
124
18,142
130,126
37,955
124
13,534
24,297
180,848
10,715
168,311
1,822
181,952
11,397
168,898
1,657
1,704,242
274,685
346,278
265,767
800,154
799,482
742,536
56,946
66,703
66,222
59,849
6,373
25,675
25,675
25,675
-
16,235
16,235
16,235
-
672
672
-
481
481
-
904,088
207,982
320,603
249,532
1,704,242
274,685
346,278
265,767
294
Notes
Income
Business and service income
Gains and premiums
Others
Less: share of National Government
Income after share of National Government
Expenses
Personal services
Business expense (Direct expense)
Maintenance and other operating expenses
Financial expenses
Others
17
18
19
20
21
2013
124,482,368
115,294,639
192,533
8,995,196
115,871,683
106,902,322
65,049
8,904,312
30,147,833
94,334,535
28,058,006
87,813,677
101,340,567
14,664,520
0
85,545,728
426,192
704,127
92,179,625
14,573,525
0
76,479,421
356,029
770,650
(7,006,032)
(4,365,948)
15,737,342
13,374,295
8,731,310
9,008,347
1,458,699
7,272,611
295
2012
1,436,569
7,571,778
BSoP
2013
CITEM
2012
2013
CITC
2012
2013
CCP
2012
2013
2012
(As Restated)
Income
Business and service income
Gains and premiums
Others
Less: share of National Government
Income after share of National Government
Expenses
Personal services
Business expense (Direct expense)
Maintenance and other operating expenses
Financial expenses
Others
Net income (loss) before subsidy
Subsidy income
Net income (loss) before tax
Income tax expense (benefit)
NET INCOME (LOSS) AFTER TAX
(As Restated)
294,451
289,638
4,813
323,149
307,810
15,339
56,245
49,590
3,197
3,458
33,587
27,194
6,393
6,987
6,976
11
7,060
6,617
443
130,636
124,964
1,596
4,076
146,016
140,401
5,615
294,451
323,149
56,245
33,587
6,987
7,060
130,636
146,016
280,318
45,360
298,739
49,510
245,189
52,417
208,939
54,009
16,667
11,051
17,443
12,035
350,896
150,242
359,338
147,890
231,121
62
3,775
246,696
159
2,374
191,626
362
784
151,328
219
3,383
5,616
-
5,408
-
200,653
1
-
209,939
18
1,491
14,133
24,410
(188,944)
(175,352)
(9,680)
(10,383)
(220,260)
(213,322)
188,118
179,510
9,000
9,412
202,000
201,327
14,133
24,410
(18,260)
(11,995)
14,133
24,410
(18,260)
(11,995)
(826)
(826)
296
4,158
4,158
(680)
(680)
(971)
(971)
DAP
2013
DFPC
2012
2013
(As Restated)
Income
Business and service income
Gains and premiums
Others
Less: share of National Government
Income after share of National Government
IBC
2012
2013
LCP
2012
(As Restated)
2013
2012
(As Restated)
333,195
323,128
354
9,713
317,812
297,227
20,585
10,525,305
10,491,005
11,156
23,144
10,322,186
10,264,751
39,995
17,440
184,250
179,325
745
4,180
282,256
276,999
202
5,055
674,608
608,757
65,851
541,505
541,087
418
333,195
317,812
10,525,305
10,322,186
184,250
282,256
674,608
541,505
Expenses
Personal services
Business expense (Direct expense)
Maintenance and other operating expenses
Financial expenses
Others
426,659
133,927
369,427
110,646
10,148,813
473,952
9,778,176
474,840
245,202
149,122
249,108
135,755
804,153
282,891
720,273
253,939
292,656
76
-
257,925
29
827
9,670,975
2,819
1,067
9,300,094
3,242
-
95,654
426
-
105,954
2,024
5,375
512,910
8,352
-
458,397
7,937
-
(93,464)
(51,615)
376,492
544,010
(60,952)
33,148
(129,545)
(178,768)
97,575
54,267
198,727
333,308
4,111
2,652
(60,952)
33,148
69,182
154,540
4,111
2,652
(60,952)
33,148
69,182
Subsidy income
Net income (loss) before tax
Income tax expense (benefit)
NET INCOME (LOSS) AFTER TAX
376,492
376,492
297
544,010
544,010
154,540
NKTI
2013
NPF
2012
2013
OWWA
2012
2013
PTNI
2012
2013
2012
(As Restated)
Income
Business and service income
Gains and premiums
Others
Less: share of National Government
Income after share of National Government
Expenses
Personal services
Business expense (Direct expense)
Maintenance and other operating expenses
Financial expenses
Others
Net income (loss) before subsidy
Subsidy income
Net income (loss) before tax
Income tax expense (benefit)
NET INCOME (LOSS) AFTER TAX
2,391,781
2,335,129
4,444
52,208
2,177,596
2,115,554
62,042
20,605
15,742
4,863
29,803
21,316
8,487
2,823,285
1,784,785
24,585
1,013,915
2,654,471
1,715,900
21,071
917,500
142,225
136,702
5,523
-
127,301
123,920
3,381
-
2,391,781
2,177,596
20,605
29,803
2,823,285
2,654,471
142,225
127,301
2,337,925
437,498
2,266,123
420,885
37,293
3,870
46,410
3,604
1,591,550
417,829
1,507,358
435,939
326,639
118,641
272,412
131,058
1,892,765
6,290
1,372
1,827,253
5,772
12,213
33,423
-
42,806
-
279,411
203,976
690,334
286,855
118,150
666,414
207,873
43
82
141,258
87
9
1,231,735
1,147,113
(184,414)
(145,111)
30,830
23,162
182,741
152,835
1,262,565
1,170,275
53,856
(88,527)
(16,688)
(16,607)
202,984
264,839
256,840
176,312
(16,688)
(16,607)
(16,688)
(16,607)
256,840
176,312
298
1,262,565
1,170,275
(1,673)
7,724
(1,673)
7,724
PAGCOR
2013
PCED
2012
2013
PCSO
2012
2013
(As Restated)
Income
Business and service income
Gains and premiums
Others
Less: share of National Government
Income after share of National Government
Expenses
Personal services
Business expense (Direct expense)
Maintenance and other operating expenses
Financial expenses
Others
Net income (loss) before subsidy
Subsidy income
Net income (loss) before tax
Income tax expense (benefit)
NET INCOME (LOSS) AFTER TAX
PCMC
2012
2013
2012
(As Restated)
(As Restated)
40,528,988
39,510,645
96,596
921,747
40,914,462
40,055,727
858,735
8,184
3,803
4,381
9,344
4,519
4,825
536,927
486,523
442
49,962
538,268
507,644
30,624
17,499,776
23,029,212
17,324,990
23,589,472
8,184
9,344
536,927
538,268
18,556,123
7,941,934
19,200,314
7,970,178
23,203
2,497
13,585
2,171
965,640
500,967
916,555
466,724
10,436,714
172,903
4,572
11,013,234
186,375
30,527
20,706
-
11,414
-
464,426
247
-
449,447
270
114
4,473,089
4,389,158
(15,019)
(4,241)
(428,713)
(378,287)
14,500
14,500
345,000
445,000
10,259
(83,713)
66,713
10,259
(83,713)
66,713
4,473,089
4,389,158
1,379,153
1,373,949
3,093,936
3,015,209
(519)
(519)
299
PHIC
2013
PHC
2012
2013
PIDS
2012
2013
PITAHC
2012
2013
2012
(As Restated)
Income
Business and service income
Gains and premiums
Others
Less: share of National Government
Income after share of National Government
Expenses
Personal services
Business expense (Direct expense)
Maintenance and other operating expenses
Financial expenses
Others
Net income (loss) before subsidy
Subsidy income
Net income (loss) before tax
Income tax expense (benefit)
NET INCOME (LOSS) AFTER TAX
(As Restated)
62,055,412
55,430,254
282
6,624,876
54,224,880
47,468,122
247
6,756,511
2,460,545
2,406,705
2,037
51,803
2,309,510
2,268,455
153
40,902
55,925
15
55,910
54,011
23
53,988
102,761
95,685
7,076
73,522
68,346
5,176
12,648,057
49,407,355
10,733,016
43,491,864
2,460,545
2,309,510
55,925
54,011
102,761
73,522
60,365,256
2,780,768
57,570,900
11,650
1,938
52,457,377
2,819,342
49,623,698
14,140
197
2,672,085
806,208
2,518,817
761,687
82,273
55,248
70,102
50,835
121,126
51,229
115,753
46,528
1,865,804
73
-
1,755,995
402
733
26,640
200
185
18,832
123
312
69,892
5
-
69,217
8
-
(10,957,901)
(8,965,513)
(211,540)
(209,307)
(26,348)
(16,091)
(18,365)
(42,231)
12,648,057
10,733,016
211,832
622,919
35,000
31,000
40,000
40,000
1,690,156
1,767,503
292
413,612
8,652
14,909
21,635
(2,231)
8,652
14,909
21,635
(2,231)
1,690,156
1,767,503
292
300
413,612
PITC
2013
Income
Business and service income
Gains and premiums
Others
Less: share of National Government
Income after share of National Government
Expenses
Personal services
Business expense (Direct expense)
Maintenance and other operating expenses
Financial expenses
Others
Net income (loss) before subsidy
Subsidy income
Net income (loss) before tax
Income tax expense (benefit)
NET INCOME (LOSS) AFTER TAX
PPI
2012
2013
PRA
2012
2013
TRC
2012
2013
2012
100,196
63,844
3,121
33,231
147,833
102,808
45,025
357,727
344,643
12,982
102
63,783
63,727
56
450,007
385,526
24,838
39,643
361,470
338,615
22,855
106,356
93,022
13,334
100,393
90,814
9,579
100,196
147,833
357,727
63,783
450,007
361,470
106,356
100,393
97,316
54,302
146,803
52,007
345,191
20,078
104,263
19,629
133,361
28,321
171,356
25,280
218,351
71,202
217,613
62,069
42,985
11
18
91,312
240
3,244
306,773
18,340
-
67,924
16,710
-
105,036
4
-
102,943
11
43,122
147,149
-
155,534
10
-
2,880
1,030
12,536
(40,480)
316,646
190,114
(111,995)
(117,220)
2,880
1,030
12,536
(40,480)
316,646
190,114
3,761
75,650
63,114
8,775
(40,480)
240,996
127,000
135
2,745
(494)
1,524
301
(111,995)
(111,995)
(117,220)
(117,220)
TPB
2013
Income
Business and service income
Gains and premiums
Others
Less: share of National Government
Income after share of National Government
Expenses
Personal services
Business expense (Direct expense)
Maintenance and other operating expenses
Financial expenses
Others
Net income (loss) before subsidy
Subsidy income
Net income (loss) before tax
Income tax expense (benefit)
NET INCOME (LOSS) AFTER TAX
VFP
2012
2013
2012
15,035
10,211
635
4,189
11,949
845
11,104
120,732
118,022
2,710
99,516
93,901
5,615
15,035
11,949
120,732
99,516
899,908
52,823
101,230
50,712
49,430
22,143
52,111
16,253
846,733
352
-
50,100
103
315
27,287
-
35,858
-
(884,873)
(89,281)
71,302
47,405
1,330,978
269,200
446,105
179,919
71,302
47,405
71,302
47,405
446,105
179,919
302
2013
2012
17,997,879
10,609,759
28,607,638
16,723,046
1,274,833
17,997,879
1,782,278
1,782,278
1,782,278
1,782,278
7,142,149
1,939,631
9,081,780
7,643,008
(500,859)
7,142,149
14
1,458
(1)
1,457
3,627,934
(2,580,522)
1,047,412
15
203,603
203,603
16
113,967,469
1,690,156
115,657,625
113,967,469
113,967,469
179,160,527
303
8,481,059
(4,853,125)
3,627,934
203,603
203,603
18,233,553
4,545,181
22,778,734
TOTAL EQUITY
1,458
1,458
22,461,628
(4,228,075)
18,233,553
162,956,323
CITEM
2012
2013
CITC
2012
2013
41,222
41,222
39,767
1,455
41,222
2,810,280
2,810,280
2,810,280
2,810,280
280,393
2,269
282,662
385,628
(105,235)
280,393
CCP
2012
(As Restated)
2013
2012
(As Restated)
262
262
262
262
1,519,347
5,275
1,524,622
1,519,347
1,519,347
5,054
5,054
5,054
5,054
10,977
10,977
10,977
10,977
1,535
1,535
1,535
1,535
14,634
14,634
14,634
14,634
159,372
14,133
173,505
134,962
24,410
159,372
81,079
(826)
80,253
(31,769)
112,848
81,079
18,490
(680)
17,810
19,461
(971)
18,490
2,998,419
2,984,286
407,748
30,584
31,264
409,191
304
(212,300)
(18,260)
(230,560)
1,294,062
(200,305)
(11,995)
(212,300)
1,307,047
DFPC
2012
(As Restated)
2013
IBC
2012
(As Restated)
47,500
47,500
47,500
47,500
8,235
8,235
8,235
8,235
161,898
161,898
2013
LCP
2012
(As Restated)
2013
2012
500
500
500
500
14,387
14,387
14,387
14,387
161,898
161,898
68,496
4,111
72,607
65,843
2,653
68,496
399,574
87,283
486,857
418,368
(18,794)
399,574
282,005
277,894
509,479
422,196
305
422,186
422,186
422,186
422,186
(1,093,065)
(60,952)
(1,154,017)
(1,126,213)
33,148
(1,093,065)
4,244,551
152,403
4,396,954
4,090,011
154,540
4,244,551
(731,331)
(670,379)
4,396,954
4,244,551
NPF
2012
2013
OWWA
2012
23,911
23,911
23,911
23,911
2,354,152
1,137,553
3,491,705
1,933,146
421,006
2,354,152
TOTAL EQUITY
3,491,705
2,354,152
503,261
(24,571)
478,690
9,566,847
306
518,583
(15,322)
503,261
2,796,418
16,582,993
13,976,563
1,304,736
15,281,299
2012
(As Restated)
7,043,840
(4,853,125)
2,190,715
15,281,299
1,277,783
16,559,082
2013
2,190,715
(2,190,009)
706
133,423
(30,981)
102,442
2012
102,442
8,985,009
9,087,451
2013
PTNI
15,305,210
449,760
449,760
449,760
449,760
1,000,000
1,000,000
1,000,000
1,000,000
(1,050,127)
(1,673)
(1,051,800)
397,960
(1,057,851)
7,724
(1,050,127)
399,633
PCED
2012
(As Restated)
2013
PCSO
2012
2013
PCMC
2012
(As Restated)
2013
2012
(As Restated)
23,678
23,678
23,678
23,678
71,431
71,431
71,431
71,431
4,051,476
1,137,362
5,188,838
4,447,100
(395,624)
4,051,476
800,000
800,000
85,506
85,506
85,506
85,506
14,890
14,890
14,890
14,890
889,585
(390,513)
499,072
889,585
889,585
10,366,510
556,358
10,922,868
7,955,677
2,410,833
10,366,510
100,177
(519)
99,658
89,918
10,259
100,177
564,375
2,070,132
2,634,507
(989,924)
1,554,299
564,375
689,266
(83,713)
605,553
622,553
66,713
689,266
TOTAL EQUITY
16,268,643
14,574,923
138,226
138,745
3,933,579
1,453,960
605,553
689,266
307
PHC
2012
(As Restated)
2013
PIDS
2012
2013
2012
1,458
(1)
1,457
1,458
1,458
113,952,835
1,690,156
115,642,991
115,644,448
113,952,835
113,952,835
9,537,713
(9,537,713)
113,954,293
PITAHC
312,649
83,845
396,494
2013
313,026
(377)
312,649
2012
(As Restated)
54,253
7,847
62,100
54,253
54,253
1,352,085
(31,657)
1,320,428
938,473
413,612
1,352,085
139,234
8,652
147,886
124,325
14,909
139,234
229,245
21,635
250,880
231,476
(2,231)
229,245
1,320,428
1,352,085
544,380
451,883
312,980
283,498
308
PPI
2012
300,000
300,000
2013
-
300,000
300,000
PRA
2012
2013
TRC
2012
2013
37,500
37,500
37,500
37,500
63,217
63,217
63,217
63,217
2012
-
309,630
309,630
309,630
309,630
10,893
10,893
10,893
10,893
(119,034)
1,618
(117,416)
(119,966)
932
(119,034)
(349,607)
8,775
(340,832)
(309,127)
(40,480)
(349,607)
597,666
239,108
836,774
555,934
41,732
597,666
(1,110,129)
(50,906)
(1,161,035)
(1,012,618)
(97,511)
(1,110,129)
182,584
180,966
(303,332)
(312,107)
899,991
660,883
(840,512)
(789,606)
309
VFP
2012
250,000
250,000
2013
-
2012
157,232
157,232
157,232
157,232
207,982
446,106
654,088
28,063
179,919
207,982
92,300
71,071
163,371
44,895
47,405
92,300
TOTAL EQUITY
904,088
207,982
320,603
249,532
310
Note
2013
2012
148,762,917
136,857,474
11,905,443
145,386,945
134,352,612
11,034,333
13,202,921
19,974,735
(6,771,814)
21,024,532
15,650,504
5,374,028
404,368
510,299
(105,931)
436,489
861,488
(424,999)
2,105
(589)
5,029,803
15,982,773
50,855,892
34,873,119
55,885,695
50,855,892
311
CITEM
2012
2013
CITC
2012
2013
CCP
2012
2013
2012
(As Restated)
Cash flows from operating activities
Cash inflows
Cash outflows
Net cash provided by (used in) operating activities
278,004
227,658
50,346
280,289
263,375
16,914
33,192
1,442
31,750
10,453
23,898
(13,445)
82,096
3,469
(7,277)
42,104
38,635
124,200
42,104
246,051
253,473
(7,422)
741
596
145
253,312
231,739
21,573
31,960
29,362
2,598
23,304
22,071
1,233
109,742
10,049
99,693
437
437
(As Restated)
335,738
327,650
8,088
406,579
313,770
92,809
10,360
(10,360)
7,419
(7,419)
121,266
2,598
1,670
(2,272)
85,390
161,747
40,481
1,800
130
151,270
65,880
154,470
161,747
4,398
1,800
148,998
151,270
312
DFPC
2012
2013
IBC
2012
(As Restated)
2013
(As Restated)
855,587
808,436
47,151
768,770
664,617
104,153
(14,772)
39,354
(54,126)
(70,998)
40,293
(111,291)
22,471
(22,471)
17,894
(17,894)
(633)
(633)
273,567
(273,567)
380,646
(380,646)
333
333
(6,642)
(7,771)
27,885
21,243
10,191,260
9,744,538
446,722
9,966,189
9,505,224
460,965
LCP
2012
2013
2012
(As Restated)
148,535
147,322
1,213
851,807
786,932
64,875
812,691
652,650
160,041
2,948
(2,948)
74,597
(74,597)
24,975
(24,975)
(12,030)
(9,722)
978
(978)
307,500
316,582
(9,082)
150,684
62,425
235
35,656
1,475,296
1,412,871
25,929
37,959
255,093
120,027
27,885
1,625,980
1,475,296
26,164
25,929
245,371
255,093
313
135,066
NPF
2012
2013
OWWA
2012
2013
PTNI
2012
2013
2012
(As Restated)
3,313,684
1,934,043
1,379,641
1,225,696
(1,225,696)
220,498
215,371
5,127
2,353,496
1,702,551
650,945
19,567
47,230
(27,663)
35,379
54,431
(19,052)
2,898,149
1,500,748
1,397,401
2,674,912
1,218,626
1,456,286
141,384
249,227
(107,843)
99,106
197,605
(98,499)
456,158
(456,158)
8,446
(8,446)
14,310
(14,310)
48,260
1,334,367
(1,286,107)
65,307
1,538,674
(1,473,367)
78,967
(78,967)
17,153
(17,153)
253,493
410,553
(157,060)
182,741
41
182,700
152,835
198
152,637
159,072
37,727
(36,109)
(33,362)
111,294
(17,081)
(4,110)
36,985
957,603
919,876
366,683
400,045
687,473
704,554
59,107
22,122
1,116,675
957,603
330,574
366,683
798,767
687,473
54,997
59,107
314
PCED
2012
2013
PCSO
2012
2013
PCMC
2012
(As Restated)
2013
2012
(As Restated)
39,893,532
36,515,106
3,378,426
43,868,640
39,943,571
3,925,069
23,805
18,296
5,509
24,140
12,494
11,646
24,228,509
21,268,092
2,960,417
100
1,529,840
(1,529,740)
251
1,501,859
(1,501,608)
5,298
8,667
(3,369)
7,320
(7,320)
1,159,231
(1,159,231)
(As Restated)
24,969,230
22,822,990
2,146,240
1,036,198
1,061,874
(25,676)
1,341,276
939,649
401,627
742,811
469,880
272,931
58,307
(58,307)
69,862
(69,862)
1,848,686
2,423,461
2,140
4,326
1,801,186
2,419,171
(83,983)
331,765
9,286,534
6,863,073
29,941
25,615
10,560,700
8,141,529
625,315
293,550
11,135,220
9,286,534
32,081
29,941
12,361,886
10,560,700
541,332
625,315
315
PHC
2012
2013
PIDS
2012
2013
PITAHC
2012
2013
2012
(As Restated)
Cash flows from operating activities
Cash inflows
Cash outflows
Net cash provided by (used in) operating activities
54,315,775
55,846,852
(1,531,077)
51,223,466
50,301,422
922,044
12,806,776
13,775,950
(969,174)
19,533,051
11,216,176
8,316,875
(As Restated)
2,306,718
2,199,833
106,885
2,184,156
2,149,140
35,016
251,309
217,614
33,695
664,220
612,091
52,129
134,350
120,708
13,642
49,250
155,668
(106,418)
81,117
31,435
49,682
113,500
126,780
(13,280)
120,687
100,257
20,430
146,330
322,657
(176,327)
469,223
183,776
285,447
30,000
70,091
(40,091)
(589)
11,107
(11,107)
2,105
8,953
(8,953)
(2,500,251)
9,238,919
(78,444)
279,783
(72,723)
101,811
362
11,477
22,116,115
12,877,196
335,066
55,283
205,607
103,796
146,840
135,363
19,615,864
22,116,115
256,622
335,066
132,884
205,607
147,202
146,840
316
PPI
2013
2012
3,563,396
1,232,632
2,330,764
1,548,541
1,194,490
354,051
997
(997)
2013
320,499
270,628
49,871
128
(128)
PRA
2012
101
(101)
2013
78,497
92,970
(14,473)
37
(37)
TRC
2012
2013
2012
474,165
272,821
201,344
378,464
371,600
6,864
358,903
298,994
59,909
358,222
256,197
102,025
18,501
(18,501)
38,740
38,740
14,246
9,315
4,931
44,393
3,884
40,509
10,213
(10,213)
2,329,767
353,923
39,557
(14,510)
182,843
45,604
64,840
142,534
1,872,914
1,518,991
3,918
18,428
552,109
506,505
606,648
464,114
4,202,681
1,872,914
43,475
3,918
734,952
552,109
671,488
606,648
317
VFP
2012
2,391,962
1,395,535
996,427
2013
494,855
297,688
197,167
2012
152,070
81,870
70,200
151,024
114,812
36,212
10,876
(10,876)
5
3,131
(3,126)
571
(571)
292
(292)
796
796
794
794
985,551
194,041
70,425
36,714
227,094
33,053
75,101
38,387
1,212,645
227,094
145,526
75,101
318
Presidential Decree
Executive Order
Republic Act
Philippine Commonwealth Act
Letter of Instruction
Philippine Legislature Act
SEC Registered
Total
No. of GOCCs
12
4
5
1
1
1
2
26
These corporations hold their principal places of business and operations in the following cities:
No. of GOCCs
8
5
5
4
2
1
1
26
Quezon City
City of Manila
Makati City
Pasay City
Pasig City
Marikina City
Paraaque City
Total
Schedule 1 shows a complete list identifying the parent and its subsidiaries as well as information regarding
each GOCCs complete address and legal form. In addition, the functions of the GOCCs under Cluster 6 are
summarized in Annex 4.
319
ACCOUNTING
POLICIES
AND
OTHER
Reporting Framework
The GOCCs under the Cluster adopted and implemented varied applicable financial reporting
frameworks in their preparation and presentation of financial statements, such as the Philippine
Financial Reporting Standards (PFRS) as adopted by Boy Scout of the Philippines (BSoP), Philippine
International Trading Corporation (PITC) and Technology Resource Center (TRC) while the remaining
22 GOCCs included in the summarized or combined financial statements adopt the accounting
principles generally accepted in the Philippines or State accounting principles.
b.
c.
d.
320
Allowance for Doubtful Accounts is maintained at a level adequate for potential uncollectible
receivables. The level of allowance is based on historical data on collection/write-off experience,
current economic trends, change in customer payment terms and other factors that may affect the
ability to collect receivables. A review/evaluation of the receivables, designed to identify accounts to
be provided with allowance, is performed on a continuous basis during the year. The rates of allowance
are approved by respective Board of Directors/Trustees of the GOCCs.
e.
Inventories
Inventories are stated by some corporations at lower of cost or net realizable value. In costing
inventories, nine (9) GOCCs Cottage Industry Technology Center (CITC), Development Academy of
the Philippines (DAP), Lung Center of the Philippines (LCP), Overseas Workers Welfare
Administration (OWWA), Peoples Television Network, Inc. (PTNI), Philippine Childrens Medical
Center (PCMC), Philippine Charity Sweepstakes Office (PCSO), Philippine Health Insurance
Corporation (PHIC) and Philippine Heart Center (PHC) use the first-in-first-out (FIFO) method, eleven
GOCCs Boys Scouts of the Philippines (BSoP), Cultural Center of the Philippines (CCP), Duty Free
Philippines Corporation (DFPC), Nayong Pilipino Foundation (NPF), Philippine Amusement and
Gaming Corporation (PAGCOR), Philippine Center for Economic Development (PCED), Philippine
Institute for Development Studies (PIDS), Philippine Institute of Traditional and Alternative Health
Care (PITAHC), Tourism Promotions Board (TPB), National Kidney and Transplant Institute (NKTI)
and PITC Pharma, Inc. (PPI) use the moving average method/weighted average method. The lower of
cost or net realizable value is adopted by Intercontinental Broadcasting Corporation (IBC), Philippine
International Trading Corporation (PITC) and Technology Resource Center (TRC) in recording their
inventories. No method is used by Veterans Federation of the Philippines (VFP) because they directly
procure goods as needed. With regard to PITACH that involved in manufacturing/production, the costs
of ending inventory of finished goods/work in process are computed based on the cost of production.
IBC and PTNI have no inventory account.
In the event that there is obsolescence or impairment of inventories, the cost of inventories is written
down to its net realizable value by recognizing impairment loss and allowance for obsolescence.
f.
Investments
Investments with maturities of one (1) year or less from balance sheet date are included in current
assets, and those with maturities greater than 12 months after the balance sheet date are classified as
non-current assets. Investments in bonds are recorded at premium or discount, which is amortized on a
straight-line method over the life of the bonds.
g.
h.
321
method, all expenses and income are recognized when incurred and earned. The cash basis is applied
for certain transactions by two GOCCs (PAGCOR and PHC).
In the modified accrual basis of accounting, income from membership fee is recorded in the year of
collection while interest income from investment is recorded when earned. Expenses are recognized
when incurred and reported in the financial statements on the period to which they relate.
i.
2013
52,155,653
2,153,420
1,058,704
493,299
19,641
2,905
354
1,719
55,885,695
2012
49,108,706
424,836
1,010,425
291,363
16,134
2,247
816
1,365
50,855,892
The Cash in Bank account includes a total of P9.71 billion bank accounts of PAGCOR with the Philippine
National Bank (PNB), Philippine Veterans Bank (PVB) and Land Bank of the Philippines (LBP)
maintained by the Home Office and branches. It includes placements in time deposits which can be preterminated when necessary.
Cash in Bank account also includes P5.29 billion peso savings and current accounts placed with the LBP
and the PNB located at the PCSO Head Office.
The Cash in Bank account includes a total of P1.56 billion short-term time deposits of PITC with
Development Bank (DBP) of the Philippines and Land Bank of the Philippines with original maturity of
three months or less with an effective interest rate ranging from 1.0525 percent to 1.35 percent as of
December 31, 2013 and from 1.65000 percent to 3.65625 percent as of December 31, 2012.
3. SHORT-TERM INVESTMENTS
This account is composed of:
Particulars
Investments in Treasury Bonds
Cash in bank
Others
Short Term Investments
2013
8,190,538
270,092
388,496
8,849,126
2012
6,032,770
253,008
464,262
6,750,040
The Short-term investments include investment of PHIC in treasury bonds amounting to P8.15 billion.
322
4. RECEIVABLES (net)
This account consists of the following:
Particulars
Accounts Receivable
Due from LGUs
Accrued Interest Receivable
Due from NGAs
Premium Receivable
Due from Officers and Employees
Notes Receivable
Due from GOCCs
Advances to Officers and Employees
Non-Trade Receivables
Receivables Disallowances/Charges
Lawmakers PDAF with negative balances
Due from Other Government Agencies
Due from Subsidiaries/Affiliates
Interest Receivable
Miscellaneous
Accrued Income
Due from Central Office/Home Office
Advances to Contractors
Due from Regional Offices/Branches
Others
Allowance for doubtful accounts
Receivables (net)
2013
4,539,030
1,836,330
1,659,965
1,455,514
1,039,639
513,972
394,481
336,651
203,068
66,573
37,818
25,055
19,969
16,159
13,377
11,872
9,219
9,190
4,088
(26,103)
187,867
(1,757,946)
10,595,788
2012
3,622,779
646,987
1,770,810
1,243,099
1,907,420
236,980
361,449
311,636
166,371
91,974
37,834
21,734
20,427
16,759
17,222
11,793
6,030
10,988
5,074
(15,741)
463,739
(1,674,140)
9,281,224
a.
Accounts Receivable consists of trade receivables due from the various clients/customers doing
business with the corporations under the audit jurisdiction of Cluster 6 which were made part of this
report. Of the total Accounts Receivable of P2.73 billion, 69 percent or P1.88 billion represents trade
receivables by PAGCOR from other companies, individuals and organizations, such as gasoline/oil
withdrawals by the National Parks Development Committee and amounts due from bingo franchisees,
poker operators and licensed casinos.
b.
Due from LGUs includes P1.82 billion receivable of PHIC from the different LGUs in the regions as
premium counterpart for the Sponsored Program. While the Accrued Interest Receivable amounting to
P1.65 billion interest earned from all short-term and long-term investments of PHIC. Also, this
account includes receivable of PHIC for the balance of the computed deficiency in employer share of
the health insurance premium contributions to PHI, billing made to PCSO for the counterpart premium
payment of the jeepney drivers for the 3rd District of Pampanga and Capas, Tarlac, billing for the
enrollment of 601 families identified by the Office of the Presidential Adviser on Peace Process
(OPAPP) through the PAMANA Program under the PhilHealth's Sponsored Program for the period
Jan. - Dec., 2013.
c.
The Accrued Interest Receivable includes the amount of P1.65 billion interest earned from all shortterm and long-term investments of PHIC.
d.
Due from NGAs includes P504 million receivable of PIDS from CHED to carry out its
projects/programs/activities. As of December 2013 CHEDs total allocated amount for its approved
projects amounted to P501.910 million. Out of this amount, P309.870 million was released to SUCs
and as of to date the liquidated amount out of this fund amounted to P12.991 million (per CHEDs
submitted report).
5. INVENTORIES (net)
This account includes:
323
Particulars
Merchandise Inventory
Medical, Dental and Laboratory Supplies Inventory
Drugs and Medicines Inventory
Chips and Tokens
Other Supplies Inventory
Office Supplies Inventory
Spare Parts Inventory
Gaming Supplies
Raw Materials Inventory
Food Supplies Inventory
Finished Goods Inventory
Accountable Forms Inventory
Construction Materials Inventory
Work-in-Process Inventory
Inventory in Transit
Others
Allowance for Supplies Adjustments
Inventories (net)
2013
428,323
318,408
258,513
176,053
249,559
73,358
37,653
36,707
19,530
16,631
11,075
8,646
6,719
4,638
1,564
22,803
(182,303)
1,487,877
2012
296,298
296,260
238,040
198,691
205,579
65,257
20,162
104,169
8,249
21,731
27,077
6,344
8,244
22,039
6,966
30,798
(10,000)
1,545,904
Merchandise Inventory includes the DFPC year-end physical inventory at MMS values amounting to
P366.88 million.
The Medical, Dental and Laboratory Supplies Inventory and Drugs and Medicines Inventory accounts
include P151.43 million and P102.46 million respectively inventories of NKTI as of December 31, 2013.
2013
112,684
57,643
29,600
19,763
17,779
17,622
790
671
23,979
280,531
2012
146,179
73,750
80,781
13,311
15,015
22,238
790
948
42,664
395,676
The prepaid taxes includes PPIs input tax carry-over from excess of input tax over output tax and the
excess payments of income tax due to creditable withholding tax at source applied to income tax payable
from years 2006-2013.
2013
46,934
23,986
23,829
2,717
566
5,680
324
2012
32,350
18,417
21,765
150
567
6,154
103,712
79,403
Other Current Assets account includes input taxes and deposits of PTNI with Meralco for application for
new electric services; service rental of transmitter and two parking units at Strata Tower; and rental deposit
for the Naga Station.
2013
99,111,804
15,422,586
2,163,343
244,000
212,313
30,388
22,500
2,382
10,715
(24,874)
117,195,157
2012
92,495,639
14,102,728
2,179,123
244,000
61,088
72,564
22,500
2,382
11,397
(24,874)
109,166,547
Investments in bonds include the P96.66 billion investment of PHIC in government bonds with more than
one year maturity period and investment in corporate bonds. These also include the P359.46 million
balances in investment in debenture bonds of OWWA issued by the Home Guaranty Corporation.
The account Other investments and marketable securities includes the P15.42 billion investment of OWWA
managed by DBP and LBP placed under Investment Management Agreement (IMA) as authorized by the
Board of Trustees on August 9, 2004. The agreements with the said banks were signed on April 21, 2005
designating them as investment managers of OWWAs investible funds/assets. The transfer of funds to the
investment managers started on May 23, 2005.
2013
30,936,145
13,195,672
5,358,554
3,952,865
884,315
765,541
866,801
395,599
2,950
(12,687,829)
43,670,613
2012
23,425,189
11,802,611
4,842,192
3,754,892
894,474
956,289
775,785
363,414
2,911
(11,505,402)
35,312,355
The amount of P9 billion for land is the appraised value of the 15-hectare land of NPF in Paraaque
City which was swapped with NPFs remaining 15-hectare property in Pasay City.
325
b.
The CCP has a total of 608,569 square meters of land amounting to P796.39 million consisting of
507,046 square meters reclaimed area assigned to CCP pursuant to Presidential Decree Nos. 15 and 74,
dated October 5, 1972 and August 22, 1975, respectively, costing P507.05 million; and the land where
the Manila Film Center is situated which was assigned to CCP by the Public Estate Authority in 1985
pursuant to LOI 1411 containing an area of 101,523 square meters with a total cost of P289.34 million.
Machineries and equipment consists of the cost of hospital equipment, medical, dental, laboratory,
technical and scientific equipments recognized in the books of the four hospitals namely LCP, NKTI,
PCMC and PHC in the total amount of P4.12 billion and cost of various machineries and equipment
recorded in the book of PAGCOR amounting to P7.48 billion.
Buildings include the cost of hospitals, health centers and office buildings of the four hospitals namely,
LCP, NKTI, PCMC and PHC with an aggregate total of P3.16 billion.
2013
4,004,564
1,571,933
825,863
810,076
602,799
452,013
300,277
228,081
546,005
51,228
40,137
35,408
12,336
232,415
2012
2,377,648
1,923,230
802,433
797,826
551,351
533,280
300,318
238,816
475,756
51,223
40,277
34,868
12,336
393,309
(783,595)
8,929,540
(720,387)
7,812,284
Restricted funds/assets include P3.59 billion cash deposits from retirees recorded in the books of PRA
which pertains to the members required visa deposit held in trust for the account of the retiree-members,
placed in NCTD with the DBP in the name of PRA, with maturity of one year.
Included in the Non-current receivables is the OFW Loan Borrowers account of OWWA amounting to
P421.79 million representing the balance of livelihood and groceria loans granted by OWWA to member
OFWs, including the Filipino Expatriates Livelihood Support Fund (FELSF) loan which was granted to
displaced OFWs affected by the global economic crisis. Also, it includes receivable from Government
Agencies in the amount of P132.17 million of which P31,500,000 was released to the Provincial
Government of Misamis Oriental for the construction of a provincial hospital in Alubijid town with a wing
reserved for OFWs. The amount represents 20 per cent upon signing of the Memorandum of Agreement,
25 per cent upon 20 per cent completion of the project, and another 25 per cent upon 50 per cent completion
of the project of the total construction cost of P45,000,000. The release of the remaining 30 per cent or
P13,500,000 shall be upon final completion of the construction of the hospital building. As at December
28, 2013, the accomplishment rate for the construction is 96.04 per cent. The release of fund was approved
by the Board of Trustees under Board Resolution No. 015 series of 2010 and covered by a Memorandum of
Agreement between OWWA and the Province of Misamis Oriental. The amount represents 20 percent of
the total construction cost of P45 million. The release of fund was approved by the Board of Trustees under
Board Resolution No. 015 series of 2010 and covered by a Memorandum of Agreement between OWWA
and the Province of Misamis Oriental. Further, there is a Non-Current Receivables Others pertaining to
the receivable from Landoil Resources Corporation amounting to P6.06 million. The loan was granted to
Landoil for the repatriation expenses of stranded OFWs from Libya. It was secured by a real property
326
mortgage consisting of 60 parcels of land located in Bataan. The property subject of the mortgage has been
levied by the Provincial Government of Bataan due to non-payment of taxes.
2013
16,112,053
8,356,496
4,244,618
4,039,955
3753,619
4,201,707
1,906,032
4,244,972
407,971
356,175
350,019
183,726
100,073
88,672
74,822
165,560
29,669
27,032
17,323
16,512
16,266
12,697
5,323
3,300,811
52,012,103
2012
9,374,195
8,968,834
2,755,898
1,750,172
4,719,634
4,741,137
1,968,838
4,290,589
293,714
376,206
164,861
174,182
96,628
96,881
76,403
174,787
43,251
12,734
14,613
13,398
16,125
9,328
14,468
1,906,777
42,053,653
The Accounts Payable account represents unpaid obligations for delivered supplies, materials, and
equipment, services rendered by contractors and proponents and unclaimed salaries and allowances of
employees. This also includes P495.08 million accrual of expenses of OWWA Head Office, Foreign Posts
and Regional Welfare Offices, liabilities for unpaid allowances, maintenance and other operating expenses,
and program funds of foreign posts for CY 2013. Likewise it represents unpaid obligations of various
agencies to suppliers and contractors.
Accrued expenses payable include PHICs (1) claims already processed and (2) claims received but not yet
processed totaling P6.34 billion. The monthly average value per claim by sector was used as the multiplier
in computing the accrual for the month. This includes also P1.60 billion PCSO expenses to the unpaid
television, radio, print advertisements and monthly recurring charges and payables of the its Branch
Offices.
Customers Deposits Payable of P4.04 billion pertains to fund transfers received by PITC from various
client which were provided for the procurement of various requested items.
2013
1,137,240
392,761
327
2012
1,137,240
129,161
1,530,001
1,266,401
The Loans Payable account represents the total outstanding principal of the subsidiary loan (SL) covered by
the Relending Agreement (RA) between the Government of the Republic of the Philippines (GROP) as the
lender and the TRC as the borrower. The GROP has sourced the funds relent to TRC, in the amount of SIX
BILLION FIFTEEN MILLION Japanese Yen (Y6,015,000,000), from the Overseas Economic Cooperation
Fund (OECF) through Loan Agreement (LA) No. PH P-83 dated January 27, 1988. At the time of release,
the peso equivalent of the loan was P1,202.90 million and including management/consultancy fees, the total
peso loan amounted to P1,295.00 million. The RA specified that the SL proceeds were for financing the
implementation of the Export Industry Modernization Project II (EIMP II) and TRC is mandated to ensure
that the OECF loan is fully disbursed within five years after the effectivity of the LA. The borrower was to
repay the principal of the SL to the lender in accordance with the amortization schedule provided in the LA
unless modified by both parties.
2013
592,919
474,322
17,812
13,113
47
11,362,233
12,460,446
2012
574,551
379,163
19,106
13,113
38
11,745,301
12,731,272
Of the P11.36 billion other non-current liabilities, P11.30 billion pertains to outstanding obligations of
PAGCOR to Philippine Reclamation Authority for the purchase of real estate property at Paraaque and the
procured slot machines under two-year contract arrangement.
The Estimated liability for employees includes the P582.69 million retirement/separation pay benefits
computed based on Section 18, Separation/Retirement Pay of the IBC-13 General Policy/Standard
Operating Procedures Approvals Manual and also on pertinent provisions of legally enforceable Collective
Bargaining Agreements between IBC Management and its officers and employees unions.
328
liabilities of the Center for Conference Model Development (CCMD), an instrumentality of the Fund for
Assistance to Private Education (FAPE), to the Academy by virtue of Letter of Instruction No. 1457 dated
April 25, 1985.
This account includes donations to DFPC amounting to 14.39 million from various donors and donation to
PCED from Japanese Government amounting to P14.52 million and ESIA-WID Project amounting to P.358
Million.
2013
112,682,504
2,503,990
192,533
108,145
8,995,196
(30,147,833)
94,334,535
2012
104,504,661
2,321,119
65,049
76,542
8,904,312
(28,058,006)
87,813,677
Business income during the year consists mainly of PHICs income from members contribution amounting
to P55.40 billion and PAGCORs income from gaming operations winnings totaling P39.51 billion. This
account also includes sales revenue of DFPC amounting to P10.49 billion and from hospital fees of NKTI
and PHC amounting to P2.34 billion and P2.40 billion respectively. The other business income recorded
were from canteens/restaurants/ dormitories/guest houses/cottages/markets/waterworks systems operations,
joint ventures, parking fees, management fees, rent, sales revenue and others.
Service income for the current year pertains mainly to OWWA membership fees of P1.78 billion, DAP
consultancy and research fees of P266.64 million, PRA passport and visa application fees of P132.07
million and BSP membership fees of P114.57 million
Permits and licenses consist mainly of income earned by PRA which includes identification
card/registration fees earned.
Other income includes PHIC interest income on investments/loans amounting to P6.59 billion and OWWA
interest income on investment/loans amounting to P1.01 billion which were managed by DBP and LBP
placed under Investment Management Agreement (IMA) as authorized by the Board of Trustees on August
9, 2004. The account also includes other income from PAGCOR, PHC and PIDS totaling P921.75 million,
P51.80 million and P55.91 million respectively.
329
2013
5,247,358
3,692,531
746,420
4,978,211
14,664,520
2012
5,211,376
3,528,952
758,557
5,074,640
14,573,525
330
2013
55,562,014
8,890,516
3,055,372
2,978,458
2,545,437
2,337,512
2,155,836
1,690,268
1,366,743
894,595
815,309
342,671
321,553
317,263
266,251
236,041
228,818
225,002
200,184
2012
47,932,542
8,412,534
3,563,732
2,933,303
2,493,151
2,275,195
1,855,659
1,649,050
1,415,088
235,606
790,099
289,720
249,253
248,345
276,177
193,706
142,864
201,247
205,216
181,656
114,991
111,754
111,605
89,761
74,115
66,677
51,949
50,648
38,784
31,089
29,358
25,097
23,137
22,630
18,013
15,794
9,955
9,955
8,490
5,977
293,691
92,318
106,221
96,917
24,804
73,847
49,254
58,793
47,897
29,214
34,286
32,487
26,786
32,936
19,272
10,903
17,296
11,881
11,881
6,384
3,063
5,836
3,612
3,449
3,094
2,480
2,043
995
924
617
590
368
152
91
61
49
45
44
85,545,728
5,583
3,411
2,602
1,593
2,118
3,291
337
14,420
606
157
712
263
73
1,190
153
27
250
17
76,479,421
2013
196,708
5,047
3,045
221,392
426,192
2012
211,558
5,269
4,016
135,186
356,029
2013
690,238
5,639
8,168
82
704,127
2012
666,161
0
11,742
92,747
770,650
Programs and projects represent expenses incurred by OWWA consisting of insurance claims, skill and
career development, security and protection, economic benefits, integrated support and services,
psychological and social well-being and other programs and special events. The insurance claims refer to
the insurance benefits of active OFW members.
22. RESTATEMENT OF ACCOUNTS
Of the 26 Annual Audit Reports (AARs) of the GOCCs included in this report, there were 11 AARs of
CITC, CCP, DAP, DFPC, IBC, PTNI, PAGCOR, PCSO, PCMC, PHIC and PITAHC whose financial
statements in 2013 have been restated to reflect changes in accounting policies and estimates, and the
correction of prior period errors, in accordance with Philippine Accounting Standard No. 8.
331
Schedule 1
Cluster 6
Corporate Government Sector
List of Government Owned and Controlled Corporations
Name of Agency
1 Boy Scouts of the Philippines
Acronym
Principal Office Address
BSP
181 Natividad Almeda-Lopez Street,
Ermita, 1000 Manila
CITEM
Name of Auditor
Eleonor R. Tejada
Position
Enabling Law/Creation
State Auditor III Commonwealth
Act
No.
111
dated
October 31, 1936 amended by Presidential
Decree No. 460 and Republic Act No. 7278
dated March 24, 1992
State Auditor IV EO Nos. 989 and 133 as amended by EO
No. 242, dated July 24, 1987
Marilou G. Tuazon
CITC
Dorothy P. Fernandez State Auditor III RA No. 3470 and EO No. 133 dated February
27, 1987
CCP
Leticia P. Torres
DAP
Pedro P. Pabelonia
Jane S. Dorosan
DFPC
GSP
8 Intercontinental Broadcasting
Corporation
IBC 13
LCP
Elizabeth M. Savella
NKTI
Myrna D. Roque
NPF
Emilia D. Malonzo
332
Name of Agency
12 Overseas Workers Welfare
Administration
Acronym
Principal Office Address
OWWA F.B. Harrison cor. 7th Street, Pasay
City
Name of Auditor
Fe G. Engo
Position
State Auditor V
Enabling Law/Creation
LOI No. 537 issued on May 1, 1977
Belen B. Ladines
State Auditor V
PCED
Dorothy P. Fernandez State Auditor III PD No. 453 dated May 13, 1974
PCSO
Cynthia M. Evasco
State Auditor V
PCMC
Corazon D. Tenorio
PHC
PHIC
Marissa F. Parias
State Auditor V
PIDS
22
Subsidiary:
PITC Pharma, Inc.
PPI
Dorothy P. Fernandez State Auditor III RA No. 8423 dated July 29, 1997
Maribelle B. Bayta
PTNI
Rosario S. Carpio
PRA
333
Name of Agency
25 Tourism Promotions Board
Acronym
Principal Office Address
TPB
4th Flr, Legaspi Towers , 300 Roxas
Blvd, cor Vito Cruz, Manila
Name of Auditor
Emilia D. Malonzo
TRC
Belinda I. Santiago
Position
Enabling Law/Creation
State Auditor IV PD No. 867 and PD No. 1448, reorganized to
TPB, attached to the Department of Tourism
for policy and program coordination under RA
No. 9593 (Tourism Act of 2009) dated
11/10/2009
State Auditor IV PD No. 1097 dated February 23, 1977
VFP
Arroceros, Manila
Pedro P. Pabelonia
334
Chapter IV
Summary Audit Results
55
In line with Section 43.2 of PD 1445, otherwise known as the Government Auditing
Code of the Philippines, a report of audit for each calendar year shall be submitted by the
head of each auditing unit, through the Commission, to the head or the governing body of
the agency concerned, and copies thereof shall be furnished the government officials
concerned or authorized to receive them.
56
It is the responsibility of the respective management of GOCCs to prepare and present the
financial statements in accordance with the adopted applicable financial reporting
framework. They are also responsible for the installation and implementation of internal
controls necessary to ensure that the financial reports are free from material
misstatements.
57
58
The audits conducted involved the adoption of procedures deemed necessary to obtain
audit evidence/s on the authenticity of figures and disclosures in the individual financial
statements of GOCCs. Audit procedures selected were primarily based on the auditors
assessment of the risks pertaining to the preparation of the financial statements and were
used in determining whether material misstatements have been committed or not and
whether any misstatements committed were due to fraud or unintentional error. The
audits conducted also included the assessment of the appropriateness of accounting
policies used, the reasonableness of managements accounting estimates and evaluation
of the overall presentation of the financial statements. If audit evidences obtained are
sufficient and appropriate, these will provide basis for the auditor to render an audit
opinion on the financial statements of the GOCC as presented in the individual Annual
Audit Report (AAR).
59
The audit of the financial statements of GOCCs, include the conduct of compliance or
regularity audit to determine that transactions and operations are carried out and
completed in accordance with the applicable laws, rules and regulations particularly on
the prevention of irregular, unnecessary, excessive, extravagant, or unconscionable
expenditures. The audit of the same financial statements also include value for money
audit aimed at ensuring that the operations of the GOCCs in pursuit of its mandate are
carried out in an economical, efficient and effective manner. The audits are also aimed at
335
61
The individual AARs on the GOCCs are published in the COA website at
http://www.coa.gov.ph. These reports present a more detailed information and discussion
on the results of the audit of financial statements, audit observations/findings and the
corresponding recommendations specific to each auditee, as well as the status of
implementation of previous years audit recommendations.
63
An unqualified opinion (U) is expressed by the auditor when he concludes that the
financial statements are in all material respects, prepared in accordance with the
applicable financial reporting framework.
64
A qualified opinion (Q) is expressed when: (a) having obtained sufficient appropriate
audit evidence, the auditor concludes that misstatements, individually or in the aggregate,
are material, but not pervasive, to the financial statements; or (b) he is unable to obtain
sufficient appropriate audit evidence on which to base the audit opinion, but concludes
that the possible effects on the financial statements of undetected misstatements, if any,
could be material but not pervasive.
65
An adverse opinion (A) is expressed when, having obtained sufficient appropriate audit
evidence, it is determined that the misstatement/s, individually or in the aggregate, are
both material and pervasive to the financial statements.
336
66
67
During the year, one hundred nine (109) unqualified audit opinions, one hundred seventy
four (174) qualified audit opinions, eighteen (18) adverse audit opinions and three (3)
disclaimer of opinions were expressed on the financial statements of GOCCs.
68
Shown below in tabular and summarized form are the types of audit opinions, rendered
by Clusters, resulting from the audits conducted on the financial statements of GOCCs.
Table II 1
Types of Audit Opinions Rendered
Calendar Year 2013
69
Cluster
1
2
3
Unqualified
14
8
8
Qualified
5
5
8
Adverse
0
1
3
Disclaimer
0
0
0
4
5
6
Water Districts
23
5
13
38
11
9
11
125
4
2
1
7
1
0
1
1
Total
109
174
18
The tabulated regional details of audit opinions issued for the financial reports of water
districts is presented in Volume II-B of the AFR.
In line with the provisions of PD 1445, the Annual Audit Reports (AARs), rendered by
COA for each and every GOCC, discuss in detail the audit observations/findings,
recommendations and other necessary and relevant information needed for the
improvement of government operations. A summary of the more significant observations
unique to each agency and those equally significant but common among several GOCCs
were lifted from the AARs on the GOCCs and are presented in the following pages.
337
71
The significant audit observation/s, as discussed in detail in the individual AARs of the
respective GOCC, generally become the basis for the issuance of a qualified or adverse
auditors opinion or a disclaimer of an opinion. The brief and concise summary of
selected significant findings and recommendations on the results of the conduct of
financial and performance audits are hereunder presented by agency in alphabetical order.
In view of the detailed lay-out and agency specific information presented in the
individual AARs, the data and discussion therein shall necessarily prevail over the
summarized information presented in this report.
Table II 2
Summary of Selected Significant Audit Findings and Recommendations
Selected Findings
Recommendations
Amount
(in thousands)
174,175
2,546,000
In line with GPPB Resolution No. 082009, submit the documentation and
justifications on the following:
a. Non-compliance
with
the
prescribed procurement process;
and
b. Deviations
from
the
APP
requirements.
180,230
338
Selected Findings
complied.
Recommendations
Amount
(in thousands)
7,478,459
577,000
501,263
339
NQ
Selected Findings
Recommendations
Amount
(in thousands)
114,305
30,261
We
reiterated
our
prior
years
recommendation that management should
undertake the following courses of action:
a. Conduct an extensive review on
causes of high operating expenses;
b. Review the existing manpower
complement
vis-a-viz
actual
accomplishment; and
c. Adopt cost cutting measures to
mitigate incurrence of losses.
57,669
14,929
340
Selected Findings
Recommendations
Amount
(in thousands)
61,430
44,153
341
5,771,350
Selected Findings
Recommendations
Amount
(in thousands)
47,370
151,392
NQ
83,982
12,961
342
Selected Findings
Amount
Recommendations
(in thousands)
the
discount
granted
purchaser/holding company.
to
the
13,287,000
155,000
77,000
343
Selected Findings
Recommendations
Amount
(in thousands)
Effect
the
necessary
accounting
adjustments to reflect the accurate/ correct
account balance; Submit the following
documents:
(1) Financial Assistance Contracts (FAC)
of the Water Districts who agreed for
the conversion of the grant portion
into soft loan and the Financial
Assistance Contract (FAC) of the loan
portion considering that only the
Memorandum
of
Understanding
(MOU) supported the initial PSF
releases;
(2) Corrected/updated schedules of the
Receivables from WDs-PSF as of
year-end to support the existence
/accuracy of the account; and
(3) The DOH/DPWH acceptance of the
allocation/releases to the Water
Districts charged against the DOH
2010 Subsidy and DPWH Subsidy.
1,507,849
344
267,166
Selected Findings
Recommendations
Amount
(in thousands)
6,401,374
1,862,803
940,177
345
Selected Findings
Recommendations
Amount
(in thousands)
346
110,098
Selected Findings
Recommendations
Amount
(in thousands)
91,824
87,002
13,804
347
Selected Findings
Recommendations
Amount
(in thousands)
2,998
1,624
10,735
5,651
348
Selected Findings
Recommendations
Amount
(in thousands)
10,920
NQ
349
Selected Findings
Recommendations
Amount
(in thousands)
NQ
203,341
84,895
350
Selected Findings
resulted in the misstatement of
expenses, liabilities and Retained
Earnings accounts, but also deprived
the national government of resources
to finance its programs/projects.
Recommendations
Amount
(in thousands)
NQ
66,506
1,506,000
351
Amount
Selected Findings
Recommendations
336,000
54,543
41,452
40,052
352
(in thousands)
Selected Findings
Project, and the corresponding
incentives to beneficiaries of the
Participatory
Coconut
Planting
Project (PCPP) totaling P31.702
million as well as the unpaid costs of
undelivered agricultural inputs of
P8.350 million were treated as
outright expenses, thus, overstating
corresponding expense accounts and
the Accounts Payable.
Recommendations
Amount
(in thousands)
1,000,000
167,235
353
3,931,531
Selected Findings
Recommendations
Amount
(in thousands)
3,447,000
362,400
1,439,000
16,446
354
100,000
Selected Findings
property.
Recommendations
Amount
(in thousands)
50,908
355
NQ
Selected Findings
Recommendations
Amount
(in thousands)
64,500
24,033,189
NQ
356
Selected Findings
Recommendations
Amount
(in thousands)
434,295
303,000
754,389
357
Selected Findings
Recommendations
Amount
(in thousands)
866,299
199,689
NQ
358
Varied
amounts
for Total
Assets,
Total
Liabilities
Selected Findings
from the for recon accounts
totalling P1.783 billion, P1.973
billion and P0.190 billion (negative)
for Total Assets, Total Liabilities,
and Total Equity, respectively, that
could not be supported with
documents, contrary to Section 13 of
the Philippine Accounting Standard
(PAS) 1.
Recommendations
actions to address all the issues that
may surface from such examination;
and
b. Ascertain the PPC officers who
should be held responsible for the
existence of for verification and
for recon and/or bad accounts;
and take appropriate action/s
accordingly.
Amount
(in thousands)
and Total
Equity
4,081,000
234,137
99,994
359
Selected Findings
Recommendations
Amount
(in thousands)
241,883
Conduct
an
overall
independent
evaluation of the ASF Project to
determine compliance with the JVA,
extent of attainment of the objectives of
the JVA, benefits derived therefrom in
relation to the proposed plan and to take
action on the unresolved issues in
implementing the project.
2,473,000
7,584
360
Selected Findings
Recommendations
Amount
(in thousands)
5,238
10,165,000
119,838
361
Selected Findings
Recommendations
Amount
(in thousands)
362
75,467
Selected Findings
Recommendations
The
financial
condition
of
QUEDANCOR is not improving as
evidenced by the accumulation of
past due accounts already amounting
to P6.453 billion or 94.04 per cent of
the total Accounts Receivable-Trade
account of P6.862 billion. Further, of
the target collection of P194.495
million only 75.18 per cent or
P146.231 million was actually
collected.
Constantly
evaluate
and
improve
strategies to intensify collection of long
overdue receivables to significantly
improve the financial condition of the
agency and sustain its operation; and
Amount
(in thousands)
6,453,000
534,590
65,536
363
3,421,977
Selected Findings
Recommendations
Amount
(in thousands)
1,055
1,027,000
5,630
NQ
364
72
The following matrix summarizes the significant common audit observations and the
corresponding recommendations reported in the Annual Audit Reports (AARs) rendered
for the GOCCs/GFIs. The effects of these observations on the fairness of the account
balances reported in the financial statements were partly the bases for the audit opinions
formulated. Moreover, the detailed lay-out and agency specific information discussed in
the AAR shall prevail over the condensed consolidated information presented in this
report.
Common Audit
Observations
Recommendations
GOCCs
affected
Amount
(in thousands)
AFPRSBS
CIC
CITC
NPIC
TCPC
TFC
10,447,000
NQ
NQ
3,785
NQ
NQ
NDA
NEA
PFDA
PIDS
NDA
NEA
PIDS
167,440
1,580,000
98,000
560,000
87,002
998,189
296,809
365
ASDI
CAAP
NDC
NIACI
NPIC
PADC
PADCC
PPSBI
ZREC
2,353
NQ
2,112,467
NQ
1,282
440
5,842
NQ
NQ
Common Audit
Observations
Recommendations
GOCCs
affected
Amount
(in thousands)
LWUA
MWSS
55,929
2,149,380
NEA
PADCC
PCA
PCMC
ZREC
85,811
4,248
26,834
9,329
267
HSDC
LRTA
LWUA
MWSS
NEA
NPC
PNR
PPA
PPC
PSALM
SRA
ZREC
28,052
169
3,687,924
319,854
697
762,337
326,669
356,820
26,190
157,928
8,384
250,095
366
CITEM
HSDC
LWUA
NIACI
NPC
OWWA (Peso)
OWWA (US$)
PADC
PTNI
PRA
TPB
1,379
4,000
6,713
1,808
151
27,471
$253
1,885
13,968
328
111,707
Common Audit
Observations
Recommendations
GOCCs
affected
VFP
Amount
(in thousands)
3,912
AFPRSBS
IBC
LRTA
PADCC
PCA
PCFC
PNR
PPC
PPSBI
PRRI
PTNI
QUEDANCOR
VFP
3,147
26,063
5,069,224
NQ
1,221,918
5,698
12,748
974,345
28,517
18,284
54,224
11,416
4,424
101,830
272,908
6,509,914
27,013
NQ
NQ
AFPRSBS
ECC
GSIS
HDMF
NIACI
PRRI
ECC
OSHC
321,312
174,638
PDMC
PNOC EC
NQ
586
OWWA
PNOC EC
NQ
NQ
367
Common Audit
Observations
Recommendations
GOCCs
affected
Amount
(in thousands)
NIACI
NHA
PADCC
PRA
PSTC
TransCo
6,449
25,830
1,401
1,246,743
57,104
124,010
DBP
DLC
GSIS
LRTA
LWUA
NDA
NEA
NHA
NPC
PCIC
PFDA
PHILSUCOR
PNR
PNOC EC
PSALM
OWWA
QUEDANCOR
SBC
TransCo
35,796
19,870
3,524,000
32,486
114,660
43,455
61,078
414,285
1,968,669
113,450
106,330
23,254
29,508
116,801
36,264,784
205,300
6,453,000
423,090
781,440
368
HDMF
SBC
TIDCORP
33,587
65,536
1,027,000
Common Audit
Observations
Recommendations
GOCCs
affected
Amount
(in thousands)
LWUA
PCMC
PNR
TransCo
MWSS
OWWA
21,648
8,960
71,087
124,010
89,908
1,092
369
AFPRSBS
BTPI
CAAP
CIAC
CITC
GFB
HDMF
HGC
HGC AKPF
HSDC
OSHC
OWWA
NPC
PADCC
PCIC
PFDA
PNOC
PNOC EC
PPA
PPSBI
PRA
PRRI
PSALM
PTNI
SSS
SUMSI
TransCo
36,838
1,343
29,329
510,790
8,345
1,341
105,848
77,386
3,394
227,084
69,206
3,796
9,707,000
10,989
738
106,282
304,030
74,817
18,768,626
4,259
97,886
52,594
8,450,714
523,413
248,886
8,749
27,747
Common Audit
Observations
Recommendations
GOCCs
affected
Amount
(in thousands)
BCDA
CPA
HSDC
SBC
SSS
HDMF
4,100,627
3,573,000
39,660
1,731
136,443
943,000
Conduct
valuation
and
appraisal of assets for their
proper presentation in the
financial statements.
AFPRSBS
BSP
HDMF
QUEDANCOR
10,094,000
14,509,000
62,683
57,789
Prioritize
the
immediate
disposal of the acquired assets
to prevent their further
deterioration and incurrence of
additional expenses and to
protect the interest of the
government.
AFPRSBS
DBP
HDMF
QUEDANCOR
SBC
254,702
1,200,551
3,008,000
323,224
13,465
Unserviceable/ retired/
obsolete
properties
remained undisposed, and
not reclassified to Other
Assets account.
AFPRSBS
BSoP
CCP
HDMF
HGC
PEATC
PFDA
PMDC
PPA
PPSBI
PRA
SHFC
SRA
2,360
2,316
5,923
7,610
7,636
NQ
2,476
3,100
23,800
259
2,667
1,980
10,624
BSoP
LIBI
LLC
PCFC
PFDA
NQ
NQ
13,370
NQ
1,381
Insurance of PPE
Insurance cover for various
vehicles and properties
were procured from private
insurance companies.
370
Common Audit
Observations
Recommendations
GOCCs
affected
Amount
(in thousands)
NDA
OWWA
4,571
4,354
BTPI
CEZA
CITEM
FTI
PCA
PFDA
SHFC
SRA
9,133
18,827
5,932
4,596
388,421
52,544
1,658
8,265
Corporate Operating Budget (COB) not submitted to DBM for review and approval
The COBs did not pass the
review and approval of the
Office of the President
through the Department of
Budget and, Management
(DBM).
AFPRSBS
GSIS
PADCC
PADC
NQ
78,979,000
BSoP
CCP
CPA
DCI
DFPC
LCP
MSI
MWSS
NDA
NHA
NPC
NPF
OSHC
PCA
PNOC EC
PNOC RC
PTNI
TransCo
VFP
NQ
NQ
NQ
24,293
11,600
91,056
NQ
NQ
13,804
33,649
465
46,300
NQ
75,097
9,421
1,533
3,456
1,677
2,047
NQ
71,827
Procurement issues
Non-observance
of
pertinent provision of RA
9184 on the mode of
procurement.
371
Common Audit
Observations
Recommendations
GOCCs
affected
Amount
(in thousands)
Contractors
failed
to
comply with the delivery
periods specified in the
contracts resulting in the
accumulation of unpaid
liquidated damages.
PHIC
PTNI
8,680
5,920
Non-preparation and or
unapproved
Project
Procurement Management
Plan (PPMP) and Annual
Procurement Plan (APP).
BSoP
LIBI
NSI
OWWA
NQ
NQ
1,136
NQ
Unreliable payable balances due to discrepancies between the general ledger (GL)
balances and confirmation replies
Confirmation of payables
disclosed
discrepancies
between the balances per
books and creditors replies.
AFPRSBS
MWSS
NDA
PFDA
PRRI
514,991
1,517,087
397,630
39,484
2,432
BSP
CB BOL
LLC
LIBI
MWSS
NPC
PCMC
PDIC
PNOC
PPA
PSALM
20,955
149
1,796
9,737
181,548
41,409,547
25,638
6,586
13,027
43,304
2,124,792
Strictly
adhere
to
the
applicable BIR regulated taxes
and real property taxes due to
the LGU to avoid payment of
interest and penalties.
BFI
BSoP
HSDC
NIACI
OWWA
PPA
PTNI
QUEDANCOR
Unremitted taxes
Withholding taxes/VAT/
income taxes/real property
taxes remained unremitted
to the BIR and/or Local
Government Unit (LGU).
372
19,189
NQ
563
3,020
1,045
4,603
148,729
5,847
Common Audit
Observations
Recommendations
GOCCs
affected
ZREC
Amount
(in thousands)
1,746
Cause
the
immediate
remittance to the GSIS of the
withheld contributions and
loans repayments.
OWWA
PNR
PTNI
QUEDANCOR
890
NQ
55,805
337
LIBI
LLC
80,800
82,185
Non-issuance of stock
certificates to investors and
unreconciled balances of
the Stock and Transfer
Book (STB) and stock
certificates issued affected
the accuracy and validity
of the capital stock
account.
PADCC
ZREC
69,004
7,400
CPA
HSDC
PHILSUCOR
28,141
32,100
5,238
373
HDMF
SSS
18,108
13,539,000
Common Audit
Observations
Recommendations
GOCCs
affected
Amount
(in thousands)
collection of contributions
Unauthorized/irregular/unnecessary expenses
Incurrence of expenditures
for healthcare program, in
addition to what the
government is already
providing
through
the
Philippine
Health
Insurance Corporation.
CIAC
CDC
CPA
DCBGSI
DCI
DLC
PDIC
PNCC
PPA
TCPC
9,692
37,649
2,215
704
721
685
11,847
2,604
42,567
78
Personnel allowances/
benefits/ bonuses/
incentives granted/
paid without legal basis.
DBP
DBPMC
DCI
DFPC
HDMF
IBC
LRTA
LWUA
MWSS
NHA
NPC
OWWA
PCIC
PDIC
PMDC
PNOC EC
PNOC RC
PPSBI
PRA
PSALM
PTAHC
TransCo
VFP
11,713
65
1,963
141,272
130,375
NQ
2,905
40,721
9,921
48,708
4,704
14,360
1,487
1,162
193
2,318
80
1,236
NQ
NQ
288
5,739
750
374
Common Audit
Observations
GOCCs
affected
Recommendations
Unauthorized consultancy
fees/
honoraria/
representation allowance/
clothing allowance/ bonus
and incentives/ and other
reimbursable expenses paid
to consultants/ OGCC
lawyers/Regional
Vice
Presidents without legal
basis.
paid
BSoP
CIC
CITEM
DBP
PITAHC
VFP
Payment of educational
assistance, health and
group
insurance
to
employees without the
prior approval by the
President
of
the
Philippines.
BMHI
NORTHRAIL
PPMC
CDC
CIAC
BSoP
DFPC
JHMC
HDMF
PPMC
VFP
Amount
(in thousands)
85
9,892
120
30,288
300
2,820
971
618
1,532
47,362
7,193
NQ
130,375
NQ
3,078
NQ
NQ
Absence and/or unimplemented Gender and Development (GAD) Plans and Programs
Gender and Development
Plans and Programs were
not/fully/effectively
implemented/utilized
in
accordance with RA 9710
or the Magna Carta for
Women
and
the
Philippine Plan for GenderResponsive Development.
375
AAIIBP
BFI
CIC
DBP
DCI
HSDC
LBRDC
LCP
LIBI
NIACI
NKTI
NQ
NQ
NQ
NQ
NQ
NQ
NQ
NQ
NQ
NQ
NQ
Common Audit
Observations
Recommendations
GOCCs
affected
(in thousands)
Amount
OWWA
PADCC
PCIC
PDIC
PICCI
PITAHC
PITC
PHC
PHISUCOR
PPSBI
PRA
PTNI
SBC
TransCo
NQ
NQ
NQ
NQ
NQ
NQ
1,072
NQ
NQ
NQ
NQ
NQ
NQ
27,127
Submit
the
required
supporting documents.
376
BSoP
CCP
CITEM
DBP
DBPMC
DCI
DFPC
DLC
GFB
MWSS
PAFC
PCA
PDMC
PNOC
PNOC EC
PNOC RC
PPSBI
PSALM
PTNI
NEA
NKTI
PNOC
PNR
PPA
TransCo
117,924
11,429
3,068
869,837
100
2,941
10,200
3,984
701
432,735
NQ
72,825
NQ
1,163
NQ
NQ
2,628
2,497,000
13,875
84,979
NQ
1,163
NQ
9,934
171,931
Common Audit
Observations
GOCCs
affected
Recommendations
Amount
(in thousands)
Exert
effort
to
locate
records/documents
and
investigate accounts without
details and adjust accordingly
the affected accounts to reflect
the correct balances.
BFI
BSP
HGC
HSDC
PADCC
PCA
PFDA
PNR
691
39,094
140,248
696,998
12,989
7,989
5,154
2,619,633
Doubtful
accuracy
of
payable accounts due to the
absence of records.
Exert
effort
to
locate
records/documents. Likewise,
review the payable accounts to
determine their validity and
completeness,
revert
to
Retained earnings account the
undocumented payables which
have been outstanding for
more than two years as
provided under Section 98 of
PD 1445. Submit the relevant
documents to support the
payments.
GSIS
HDMF
MWSS
PADCC
PDIC
QUEDANCOR
ZREC
420,100
NQ
32,180
1,658
3,281
24,893
3,642
BSP
BSoP
HDMF
GSIS
MWSS
NAICI
NHMFC
PFDA
PRRI
QUEDANCOR
SSS
SUMSI
TransCo
126,008
8,832
5,938
247,120
3,281
134
2,850,000
3,451
175,411
10,651
155,414
49
57,633
Monitor,
analyse,
and
immediately reconcile the SL
balances of various accounts
(receivables, payables, cash
advances, etc) to avoid
abnormal/negative balances
and adjust the affected
accounts as necessary for
proper presentation in the
financial statements.
Conduct
analysis
and
reconciliation of the involved
accounts with its schedules
and supporting documents;
adhere to the provision of the
Philippine
Accounting
377
BSP
BSoP
CCP
CITEM
DBP
FTI
GFB
3,168
1,700,145
63,429
19,766
1,200,551
86,381
231,019
Common Audit
Observations
Recommendations
Standards; and make the
necessary adjustments for
accurate
and
proper
presentation of the accounts in
the financial statements.
GOCCs
affected
(in thousands)
Amount
GSIS
HDMF
HGC
L\LC
MSI
NPC
OWWA
OSHC
PADCC
PCA
PCED
PCMC
PNOC AFC
PNOC EC
PNOC STC
PNR
PPA
PPI
PRA
PSALM
SSS
TIDCORP
TransCo
1,968,897
950,360
13,094
26,411
38,887
37,098
407,996
1,433
14,469
40,052
9,838
5,380
235
6,721
NQ
44,620
155,682
28,469
7,210
14,209
6,329,000
12,000
7,457,594
Maintain
SLs,
Property
Ledger Cards, and other
subsidiary records and keep
these reconciled with the
controlling accounts in the
GL.
CITEM
FTI
LRTA
MWSS
NIACI
OWWA
PITAHC
PNR
PPA
PRRI
PSALM
7,280
25,938
6,804,550
362,735
9,608
906,935
NQ
2,865,000
4,858
35,030
5,278
Unreliable balances of accounts due to the discrepancies between the GL and SLs
balances
Discrepancies of balances
of
assets/liabilities/
members equity accounts
between the GL and the
SLs cast doubt on the
reliability and accuracy of
the balances of accounts
378
AFPRSBS
BSoP
CCP
CDC
HDMF
NIACI
OWWA
199,201
17,345
113,256
96,859
405,313
3,326
3,796
Common Audit
Observations
reflected in the financial
statements.
Recommendations
accounts in
statements.
the
financial
GOCCs
affected
PCA
PTNI
SSS
SUMSI
Amount
(in thousands)
27,224
172,899
1,847,000
187
In line with COA Circular No. 2009-006, dated September 15, 2009, Prescribing the
Use of the Rules and Regulations on Settlement of Accounts, the Auditor is tasked to
issue a Notice of Suspension/Notice of Disallowance/Notice of Charge for
differences/variances resulting from the audit of the Accounts.
74
75
76
A Notice of Charge (NC) is issued when: (a) the amount assessed/appraised is less than
what is due the government; (b) the amount billed is less than the amount due the
government; and (c) the amount collected is less than what is due to the government. The
differences/variances noted shall constitute a proper audit charge.
77
For the year 2013, a total of P4,187.02 million, representing transactions of doubtful
legality/propriety/regularity were issued the corresponding NS. A total of P1,394.71
million or 5.93 percent of the total NS of P23,509.10 million were settled during the year.
78
NDs were issued for transactions totaling to P3,860.31 million. These represent various
expenditures
which
were
considered
irregular/unnecessary/excessive
and
extravagant/illegal and/or unconscionable in nature. A total of P47.24 million
representing 0.059 percent of the total NDs of P80,323.32 million were settled.
79
NCs were issued for uncollected/unassessed revenues totaling to P22.30 million. About
P77.28 million of the total NCs of P8,165.95 million were recovered.
379
80
The unsettled balance of NSs, NDs, NCs at year-end were P22,114.39 million,
P80,276.08 million and P8,088.66 million, respectively. Presented in Table II 3 is the
Statement of Audit Suspensions, Disallowances and Charges as of year-end.
Table II 3
Status of Issuance and Settlement of
Audit Suspensions, Disallowances and Charges
As of December 31,2013
(in thousand pesos)
Cluster
Suspensions
Beginning
Balance
19,322,078
4,187,019
1,394,710
Ending
Balance
22,114,387
Issued
Settled
Disallowances
76,463,013
3,860,305
47,235
80,276,083
Charges
8,143,650
22,295
77,284
8,088,661
103,928,741
8,069,619
1,519,229
110,479,131
Total
Summary of implementation
of prior years audit recommendations
81
380
Table II 4
Summary Status of Implementation of Prior Years Audit Recommendations
No. of
AARs
monitored
19
15
470
212
207
51
3
4
5
6
19
39
18
26
360
560
713
983
121
219
175
366
128
208
202
382
111
133
336
235
Total
136
3,382
1,190
1,286
906
Cluster
82
No. of
recommendFully
dations
implemented
296
97
Status
Partial
implementation
Not
implemented
159
40
Details and discussions on the specific measures that had been implemented, partially
implemented and not implemented at all are presented in the AARs of the respective
agencies. Annex 18 features the specific GOCCs vis--vis the number of CY 2013 audit
recommendations implemented or not implemented as reported in the AARs.
381
Annexes
List of government-owned or controlled corporations by
Cluster/Region, with their acronyms, and status of audit as of
September 10, 2014
10
11
12
13
14
15
16
17
18
Annex 1
List of government-owned and/or controlled corporations
with their acronyms and status of audit
as of September 10, 2014
GOCCs located in the National Capital Region
Name of GOCC
Acronym
Status of audit
BSP
CB-BOL
PICCI
CIC
DBP
AAIIBP
DCI
DLC
DBPMC
IGLF
LBP
Audit on-going
Page 1 of 9
Remarks
Name of GOCC
12.
13.
14.
15.
16.
17.
18.
19.
20.
21.
Subsidiaries
Land Bank Countryside Development
Foundation, Inc.
Land Bank Resources and Development
Corporation
LBP Insurance Brokerage, Inc
LBP Leasing Corporation
Masaganang Sakahan, Inc.
People's Credit and Finance Corporation
Parent
National Livelihood Development Corporation
Subsidiary
Northern Foods Corporation
Philippine Deposit Insurance Corporation
Philippine Postal Savings Bank, Inc.
Acronym
Status of audit
LCDFI
LBRDC
LIBI
LLC
MSI
PCFC
NLDC
Audit on-going
NFC
PDIC
PPSBI
AFPRSBS
SUMSI
ECC
GSIS
GFB
HDMF
HGC
Remarks
1.
2.
3.
4.
5.
6.
7.
Parent
AFP Retirement and Separation Benefits System
Subsidiary
Southern Utilities Management Services, Inc.
Employees' Compensation Commission
Parent
Government Service Insurance System
Subsidiary
GSIS Family Bank
Home Development Mutual Fund
Home Guaranty Corporation
Annex 1
Page 2 of 9
Name of GOCC
Parent
8. National Home Mortgage Finance Corporation
Subsidiary
9.
Social Housing Finance Corporation
10. National Housing Authority
11. Occupational Safety and Health Center
12. Palacio Del Gobernador Condominium Corporation
13. Small Business Corporation
14. Social Security System
Trade and Investment Development Corporation of
15.
the Philippines
Acronym
Status of audit
Remarks
NHMFC
SHFC
NHA
OSHC
PDGCC
SBC
SSS
TIDCORP/
PhilEXIM
Annex 1
APU
LRTA
LWUA
MWSS
NEA
NPC
PNOC
PAFC
PDMC
PNOC - EC
PMPC
PRC
PSTC
PNR
Page 3 of 9
Name of GOCC
15. Philippine Ports Authority
16. Philippine Postal Corporation
Parent
Power Sector Assets and Liabilities Management
17.
Corporation
Subsidiary
18.
National Transmission Corporation
Acronym
Status of audit
PPA
PPC
PSALM
NTC
BCDA
BTPI
BMHI
CDC
CIAC
JHMC
NORTHRAIL
CEZA
NLPCSI
CAAP
LLDA
MIAA
NDC
Remarks
Annex 1
Page 4 of 9
Name of GOCC
Subsidiaries
14.
Batangas Land Company, Incorporated
15.
First Cavite Industrial Estate, Inc.
16.
GY Realty Estate, Inc.
17.
Inter-Island Gas Services, Inc.
18.
Kamayan Realty Corporation
19.
Manila Gas Corporation
20.
NDC Philippine Infrastructure Corporation
21.
Pinagkaisa Realty Corporation
22. Philippine Aerospace Development Corporation
23. Philippine Economic Zone Authority
Parent
24. Philippine National Construction Corporation
Subsidiaries
Alabang-Sto. Tomas Development, Incorporated
25.
26.
27.
28.
29.
30.
31.
32.
33.
Annex 1
Acronym
Status of audit
BLCI
FCIEI
GYREI
IIGSI
KRC
MGC
NPIC
PRC
PADC
PEZA
PNCC
ASDI
CDCP-FC
DISCCBGSI
TFC
TCPC
PRA
PEATC
TIEZA
CFI
Page 5 of 9
Remarks
Name of GOCC
Acronym
Status of audit
HSDC
NABCOR
PADCC
ZREC
NDA
NFA
FTI
NIA - CF
NIA - GF
NIA - SF
NIACI
NRDC
PFC
PMDC
NTA
PCA
PCIC
PCIC-SRTF
Page 6 of 9
Remarks
Name of GOCC
16. Philippine Fisheries Development Authority
17. Quedan and Rural Credit Guarantee Corporation
Parent
18. Sugar Regulatory Administration
Subsidiary
19.
Philippine Sugar Corporation
Acronym
Status of audit
PFDA
QUEDANCOR
SRA
PHILSUCOR
BSoP
CITEM
CITC
CCP
DAP
DFPC
IBC
LCP
NKTI
NPF
OWWA
PAGCOR
PCED
PCMC
PCSO
PHIC
PHC
PIDS
PITAHC
Page 7 of 9
Remarks
Name of GOCC
Parent
20. Philippine International Trading Corporation
Subsidiary
21.
PITC Pharma, Inc.
22. Philippine Retirement Authority
23. People's Television Network, Inc.
24. Tourism Promotions Board
25. Technology Resource Center
26. Veterans Federation of the Philippines
Annex 1
Acronym
Status of audit
PITC
PPI
PRA
PTNI
TPB
TRC
VFP
Page 8 of 9
Remarks
Name of GOCC
Region I
1. Poro Point Management Corporation
Acronym
Cluster
Assigned in
Consolidation
Status of audit
PPMC
APECO
AFAB
PRRI
SBMA
4
4
5
4
PDA
CPA
MCIAA
3
4
ZCSEZA
BFI
PIA
5
4
SPDA
MRHI
Remarks
Region III
2.
3.
4.
5.
Region V
6. Partido Development Administration
Region VII
7. Cebu Port Authority
8. Mactan-Cebu International Airport Authority
Region IX
9. Zamboanga City Special Economic Zone Authority
Region X
10. Bukidnon Forest, Incorporated
11. PHIVIDEC Industrial Authority
Region XI
12. Southern Philippines Development Authority
Autonomous Region in Muslim Mindanao
13. Marawi Resort Hotel, Incorporated
Annex 1
Page 9 of 9
Annex 2
Roster of Members of Governing Boards
of Government-Owned and/or Controlled Corporations
Last Name, First Name,
Middle Initial
Name of Agency(ies)
No. of GOCC
Membership(s)
A
Abad, Florencio B.
Aguelo, Crispino T.
Aban, Alma P.
Abaya, Joseph Emilio A.
Abaya, Peter Anthony A.
Abello, Roberto G.
Abrera, Emily A.
Acol, Jose Raymund
Acosta, Nereus Jr. O.
Adobo, Ernesto Jr. D.
Adorable, Vicente H.
Adriano, Magleo V.
Afable, Silvestre Jr. C.
Agawin, Ophelia P.
Agbayani, Jamie Eloise M.
Agbayari, Francisco Jr. R.
Agranzamendez, Reynaldo U.
Aguirre, Pacita Rosalinda Y.
Aguja, Mario J.
Agustin, Daniel R.
Agustin, Triunfo P.
Alamilio, Romeo D.
Alano, Jose Luis
Alba, Cecilia S.
Albano, Ernesto L.
Alberto, Ma. Paz R.
Alcala, Angel C.
Alcala, Proceso J.
Alcantara, Claron R.
Alcasid, Herminio Sr. M.
Alcazaren, Paulo G.
Annex 2
11
HSDC
PDMC
NPF
1
1
1
Page 1 of 21
2
1
6
1
1
1
3
1
2
1
1
1
1
1
1
1
1
3
1
1
1
2
2
1
1
1
17
Name of Agency(ies)
PPSBI
CEZA (2 mos.)
LIBI
PCFC
CIC, QUEDANCOR
BSoP (6 mos.)
LLC
BCDA (6 mos.), BMHI
APU
PNCC, DISCCBGSI
NFC, NLDC
PRA
BSoP
APECO
AFAB
PRC
BSoP
BSoP
NPF
QUEDANCOR
SSS
TIEZA
BSP, CB-BOL
NLPCSI
SBMA
OWWA
CDC
BSoP
PNOC-EC, PMPC, PNOC
CIC
PNCC (6 mos.)
PICCI (6.5 mos.), TIDCORP (7
mos.), BSP
PHILSUCOR
PDIC
NPC
BLCI, FCIE, GYREI, KRC, NPIC,
PRC, MGC, IIGSI
PITAHC
APU (6 mos.)
PNOC, PRC
CIC
LLC
SBC, LBRDC
ZCSEZA (5 mos.)
BSoP
PPMC
VFP
Page 2 of 21
No. of GOCC
Membership(s)
1
1
1
1
2
1
1
2
1
2
2
1
1
1
1
1
1
1
1
1
1
1
2
1
1
1
1
1
3
1
1
3
1
1
1
8
1
1
2
1
1
2
1
1
1
1
Annex 2
Name of Agency(ies)
PRA
PPSBI
NABCOR
IBC
BSoP
PHIC
PEZA (5.6 mos.)
AFPRSBS, DND
No. of GOCC
Membership(s)
1
1
1
1
1
1
1
2
B
B. Brillo L. Reynes
Babad, Rolito B.
Bacani, Rolando T.
Bacani, Senen C.
Badiola, Beda B.
Bagalso, Salud A.
Bagaporo, Domingo I.
Bagtas, Cedric R.
Balagan, Jose D.
Balais, Victorino F.
Baldoz, Rosalinda D.
Balisacan, Arsenio M.
SBC
AFPRSBS
TRANSCO
PRRI
CIAC
BSoP
HSDC
PEZA
CEZA (6.3 mos.)
OWWA
DOLE, LBP, NHA, SSS, HDMF,
OSHC, ECC, CAAP, PEZA,
OWWA, PHIC
TIDCORP, HGC, IGLF, NIA, NPC,
LRTA, PSALM, PITC, DAP, PCED,
PIDS, TRC, NHA, NEDA
1
1
1
1
1
1
1
1
1
1
11
AFAB
PHILSUCOR
BSoP, LBRDC, PPMC
OSHC, ECC
NABCOR
BSoP
CEZA (2 mos.)
CDC
SRA
PSALM
BLCI, NPIC
PITC, PPI
DLC, AAIIBP
PPI
PIDS
PDMC
AFPRSBS, AFP
BSoP
LCP
GYREI (.4 mo.)
1
1
3
2
1
1
1
1
1
1
2
2
2
1
1
1
2
1
1
1
Page 3 of 21
14
Name of Agency(ies)
PDA
PDA
CB-BOL, IGLF, SBC, OWWA,
DAP
PNCC (9 mos), DISCCBGSI
SBMA
GFB, TIDCORP
HDMF
BSoP
PCIC
PIDS
JHMC
NEA
NHA, SHFC, NHMFC, HDMF,
HGC, HUDCC, BSoP, TRC
BSoP
APECO (7 mos.)
GFB, TIDCORP
AFPRSBS
PNOC-EC, PMPC
CDC
LIBI
PCIC (11 mos.)
PAFC
LLC, LCDFI
CCP
PDA
PPA (9 mos.)
PITC
TPB
MIAA
AAIIBP, DBP, DBPMC, DCI,
PADC (3 mos.), CITC
PIA
NEA
PPSBI
LBP
CITC
BSP
SHFC, NHMFC
No. of GOCC
Membership(s)
1
1
5
2
1
2
1
1
1
1
1
1
8
1
1
2
1
2
1
1
1
1
2
1
1
1
1
1
1
6
1
1
1
1
1
1
2
C
Cabral, Ma. Catalina E.
Cabrera, Marco Elmer R.
Cabreza, Jocelyn D. G.
Cacanando, Ma. Luna E.
Cacayan, Phillip L.
2
1
1
2
1
Annex 2
Name of Agency(ies)
LIBI
OWWA
PPMC
NORTHRAIL (6 mos.)
APU (.4 mo.)
PNOC, PRC, PMDC
CITEM, FTI, NFA (11 mos.), PFDA,
QUEDANCOR
PITAHC
SBMA
NPF (6 mos.)
PAFC, PNOC
IBC
SHFC, DBM
VFP
PADC
MWSS
DISCCBGSI, PNCC
PDGCC (8 mos.)
TRANSCO
APU
CEZA
PPA
QUEDANCOR
BSoP
PMDC
BCDA (6 mos.), BMHI, CDC,
JHMC
PITAHC
BLCI
HGC
PRRI
IBC
LBRDC
GYREI
LCDFI
CCP
CIAC
PDA
PCMC, LCP, NKTI, PHC
CIC
DBPMC
NDA
BSoP
MSI
DFPC
LRTA
PDA
Page 5 of 21
No. of GOCC
Membership(s)
1
1
1
1
1
3
5
1
1
1
2
1
2
1
1
1
2
1
1
1
1
1
1
1
1
4
1
1
1
1
1
1
1
1
1
1
1
4
1
1
1
1
1
1
1
1
Name of Agency(ies)
PFDA
SBMA
KRC
PTNI
PCFC
NTA
PPMC
LLC
ZCSEZA
CIC
PRRI
AFPRSBS, PA
VFP
PRRI
PDA
TIDCORP, POCB
PPA (5 mos.)
PDA
PDA
PDA
LIBI
LRTA
PCIC (5 mos.)
MSI
PRRI
BSoP
MWSS
NDC, PITC, PSALM
QUEDANCOR
NHA
OWWA
PICCI
IBC
PDMC
CITC (6 mos.), NFC, PIA (3 mos.)
LRTA, LWUA (7 mos.), TIDCORP,
DOF
LIBI
PADC
CEZA (2.6 mos.)
AFAB
No. of GOCC
Membership(s)
1
1
1
1
1
1
1
1
1
1
1
2
1
1
1
2
1
1
1
1
1
1
1
1
1
1
1
3
1
1
1
1
1
1
3
4
1
1
1
1
D
Dakay, Pericles P.
Dapat, Sabino R.
Daquioag, Harley Rose A.
David, Karina C.
MCIAA
PAFC
APECO
GSIS, Manila Hotel
Page 6 of 21
1
1
1
2
Annex 2
Name of Agency(ies)
PRA
MCIAA (5.7 mos.)
PITAHC
FCIE
PRC
VFP
BSoP
PNR
NORTHRAIL (6 mos.)
PDA
PEZA
NHA (1 mo.), DOF
LBP, LIBI
PDGCC
CAAP, MCIAA, PSALM
PEZA
DAP
BCDA (6 mos.), NORTHRAIL (6
mos.)
HDMF, BC
VFP
PHIC, SSS, OSHC, ECC
PICCI (4.8 mos.), TIDCORP (4
mos.), BSP
HSDC
PDA
PNOC-EC, PMPC
CAAP, OWWA
SBMA
GYREI
PFDA
PADC, AFPRSBS, PAF
PPSBI
VFP (5 mos.)
NDA
PRRI
PDA
AFPRSBS
LBP, QUEDANCOR
BSoP (6 mos.)
LBP, LLC
PCFC
PDGCC
BSoP
PNR (4 mos.)
APU
OWWA
SBC
Page 7 of 21
No. of GOCC
Membership(s)
1
1
1
1
1
1
1
1
1
1
1
2
2
1
3
1
1
2
2
1
4
3
1
1
2
2
1
1
1
3
1
1
1
1
1
1
2
1
2
1
1
1
1
1
1
1
Name of Agency(ies)
No. of GOCC
Membership(s)
Dio, Jose S.
Dionio, Genever M.
Dizon, Paterno H.
Dodd, Concepcion G.
Domingo, Erdolfo B.
Domingo, Gregory L.
NTA
NIACI
TIDCORP
NLDC
NIACI
NHA, DTI, HDMF, TIDCORP,
NPC, PSALM, CEZA, PADC,
PEZA, NDC, NFA (9 mos.), PFDA,
PITC, TPB, CITEM, DFPC, PCED,
TRC
1
1
1
1
1
18
Drapete, Lorenzo C.
Dumandan, Gregorio S.
Dumandan, Marcos M.
Duque, Francisco III T.
4
1
1
6
1
1
E
Echauz, Lydia B.
Edralin, Daniel L.
Edralin, Maximino Jr. J.
Ejercito, Gerlie J.
Elum, Francis Raphael C.
Elvena, Rogelio A.
Encabo, Shiela Marie M.
Encarnacion, Winona M.
Endriga, Baltazar N.
Enerio, Domingo Ramon III C.
Enerio, Robert M.
Enrile, Edwin R.
Enriquez, Apollo S.
Erquiza, Gerardo D.
Escao, Jaime R.
Escarez, Apollo M.
Esguerra, Emmanuel F.
Espenilla, Nestor Jr. A.
Espino, Amado Jr. T.
Espiritu, Carolyn E.
Esquivel, Gerrado A.I.
Estalilla, Ronal John A.
Estepa, Carlos Honorio Jr. B.
Estomo, Alejandro H.
Estregan, Jorge Ejercito
Estrella, Corazon R.
Eva, Jose Emmanuel David III M.
Evangelista, Rafael Jr. G.
DBP
SSS
BSoP
LLDA
CDC
NTA
NRDC
SUMSI
CIC
TPB
NDA
NPC
PPA
APECO (2 mos.)
CEZA
PADC (9 mos.)
LRTA, TIDCORP, NEDA
QUEDANCOR, PDIC
BSoP
CCP
MWSS
MSI
TIEZA
AFPRSBS
LLDA
PAFC
FTI
ZCSEZA
Page 8 of 21
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
3
2
1
1
1
1
1
1
1
1
1
1
Annex 2
Name of Agency(ies)
No. of GOCC
Membership(s)
F
Fadriquela, Enrique E.
Fajardo, Pacifico M.
Farinas, Daniel T.
Fausto, Danilo V.
Favila, Peter B.
Feliciano, Manuel M.
Felix, Suzanne I.
Feraren, Rodolfo S.
Fernandez, Francisco L.
Fernandez, Jose Ma. J.
Ferrer, Francisco I.
Fieta, Antonio A.
Flagui, Tomas II C.
Flavier, Juan M.
Fondevilla, Marietta M.
Forbes, Euclides G.
Formoso, Lorenzo C.
Francisco, Ernesto G.
Francisco, Guillermo P.
Fueconcillo, Ernesto J.
Fuentebella, Arnulf Bryan B.
Fuentebella, Evelyn B.
Fuentebella, Felix William B.
Fuentes, Rene R.
SUMSI
PRRI
BSoP
HGC
BSP
CDC
CIC
LBRDC
SHFC, DILG, HSDC
CIAC
PEZA
NPC
PNCC
PHIC
DCI, AAIIBP
PCA (11 mos.)
DFPC
VFP
AFPRSBS
CEZA
PDA
PDA
PDA
FTI
1
1
1
1
1
1
1
1
3
1
1
1
1
1
2
1
1
1
1
1
1
1
1
1
G
Gacula, Geoffrey D.
Gaetos, Rosario Virginia C.
Gako, Nemesio T.
Galimba, Armando P.
Galvez, Antonio A.
Gamab, Dennis
Gancayco, Pablo M.
Ganchoon, Fretti
Garay, Mildred L.
Garchitorena, Jaime P.
Garcia, Edward Leandro Jr. Z.
Garcia, Francis S.
Garcia, Gerardo C.
Garcia, Raquel D.
Garcia, Roberto V.
Garin, Janette L.
Garin, Oscar G.
Garon, Ermie L.
Annex 2
NTA
CITEM
PCMC, LCP, PHC, NKTI
NFC, PNOC-EC, PMPC
NIACI (1 mo.)
KRC
AFAB
PSALM
BSoP (6 mos.)
CIC
QUEDANCOR
SBMA
PNR (5.6 mos.)
PICCI
SBMA
PCMC, LCP, PHC (6 mos.), NKTI
(6 mos.)
PCA
OWWA
Page 9 of 21
1
1
4
3
1
1
1
1
1
1
1
1
1
1
1
4
1
1
Name of Agency(ies)
DISCCBGSI
PMDC
BSoP (6 mos.)
PRC
FTI
PADC, TRC
PCFC
BCDA (6 mos.), BMHI
PPMC
TRANSCO
MSI
DBP
LRTA
PRC
VFP
BCDA (6 mos.), BMHI, PPMC (5
mos.)
BCDA (6 mos.), BMHI
PHILSUCOR (11 mos.)
PADC (3 mos.)
BCDA (3.7 mos.)
PNOC
NLDC
GSIS
PNCC, GSIS, PNCC
PCIC
LBRDC
BSoP
ZCSEZA
NHMFC, BSP
PPMC
No. of GOCC
Membership(s)
1
1
1
1
1
2
1
2
1
1
1
1
1
1
1
3
2
1
1
1
1
1
1
3
1
1
1
1
1
1
H
Hadji-Salam, Abdul Y.
Hamlin, Maria Montserrat I.
Hatta, Teresita O.
Henares, Ivan Anthony S.
Herbosa, Teodoro J.
Herbosa, Teresita J.
Hermosima, Justin Mikhail
Hernandez, Elmer C.
Hernandez, Jose Rafael S.
Hernando, Pedro Jr. S.
Hidalgo, Felipe A.
Hilado, Maria Victoria R.
Hipolito, Charissa P.
Hipolito, Jose V.
Honrado, Jose Angel A.
AAIIBP
TPB
CB-BOL
NPF (6 mos.)
LCP, NKTI, PCMC, PHC
CIC
BSoP (6 mos.)
PNCC (6 mos.)
IBC
FTI
PPC
CIC
NHMFC, DOF, PADC
CEZA
CIAC, MIAA, CDC
Page 10 of 21
1
1
1
1
4
1
1
1
1
1
1
1
3
1
3
Annex 2
Name of Agency(ies)
CDC, CAAP
CAAP, MIAA, MCIAA
No. of GOCC
Membership(s)
2
3
I
Ignacio, Demetrio Sr. L.
Ignalaga, Francisco Jr. T.
Ilagan, Alex G.
1
2
1
J
Jacinto-Henares, Kim S.
Jamias, Kasigod V.
Jamora, Elpidio Jr. C.
Jarina, Ludovico J.
Jasmin, Ma. Victoria V.
Jejudason, Ma. Teresita M.
Jimenez, Ramon Jr. R.
Jimenez, Veronica B.
Joaquin, Francisco Manuel III G.
Joya, Rodante S.
Juico, Margarita P.
PEZA
TIDCORP
PNCC
FTI
MIAA, CIAC, MCIAA
DBPMC
CAAP, TIEZA, MIAA, MCIAA,
TPB, DFPC, PRA
PTNI
PCSO
MIAA, MCIAA
PCSO
1
1
1
1
3
1
7
1
1
2
1
K
Kalaw, Antonio Jr. D.
Kanapi, Robert S.
Khonghun, Joseph D.
DAP
KRC
NEA, SBMA
1
1
2
L
Labajo, Jovito C.
Lacsamana, Jay Bertram T.
Lacson, Daniel Jr. L.
Lacson, Edgardo G.
Ladrido, Milagros C.
Lagdameo, Enrique B.
Lagua, Benel P.
Laguda, Reynaldo D.
Laguesma, Bienvenido E.
Lagunzad, Ciriaco III A.
Laogan, Daniel Y.
Lapid, Mark T.
Lapus, Jesli A.
Lapus, Jose C.
Larrazabal, Potenciano Jr. V.
Lasacar, Leo G.
Annex 2
SHFC
PPSBI
GSIS
HDMF, ECP
NPF
BSoP
IGLF, SBC
NDA
SSS, MARINA, LGU Guarantee
Corp.
NHA (11 mos.), OSHC, DOLE
DBP
TIEZA, TPB
LCDFI
AFPRSBS, PIA
PNOC
Bsop (6 mos.)
Page 11 of 21
1
1
1
2
1
1
2
1
3
3
1
2
1
2
1
1
Name of Agency(ies)
CCP
PSALM, TRANSCO
PHILSUCOR
PDA
AFPRSBS
NLDC
TRC (5 mos.)
DBP, DCI, DLC, MIAA, HSDC
CEZA
PDA
ZCSEZA
PITAHC
GFB, TIDCORP
CIC
PNR , LRTA
CCP
PIDS (6 mos.)
ZCSEZA
NEA
PDGCC
PHIC
NPF (6 mos.)
PNOC-EC, PMPC
KRC, MGC, IIGSI
LLC
HDMF, UM
HDMF, IGLF, SHFC, BSP
DBP, DCI, PMDC, NRDC
PPSBI
PADC, MIAA, CIAC, MCIAA
NKTI (6 mos.), PCMC, PHC (6
mos.)
BFI
CIAC
DAP, CITC, BSoP
PDMC
AFPRSBS
NDA
No. of GOCC
Membership(s)
1
2
1
1
1
1
1
5
1
1
1
1
2
1
2
1
1
1
1
1
1
1
2
3
1
2
4
4
1
4
3
1
1
3
1
1
1
M
Mabazza, Rhoel Z.
Macalino, Daisy M.
Macas, Albertino C.
Maglaya, Zenaida C.
Magleo, Adriano
8
1
1
5
1
Annex 2
Name of Agency(ies)
PIA
NDA (3 mos.)
TIDCORP
IBC
LCDFI
CIAC
BFI
SSS
MGC, IIGSI
AAIIBP
PITAHC
PCSO
PAGCOR
JHMC
TIDCORP (9 mos.)
PDIC
CIAC
PCIC
GFB, TIDCORP
PHIC
BSoP
NIA (6 mos.)
SUMSI, AFPRSBS
NRDC, PFC, BFI
SRA, PHILSUCOR
GSIS, GFB, TIDCORP
PRC
AFAB
BSoP
PRC
BSP
PRA
PPA (9 mos.)
BLCI, FCIE, GYREI, KRC, NPIC,
PRC, MGC, IIGSI, PMDC
CDC
NTA
VFP
SSS
NABCOR
AFAB
PRRI
PDGCC
BLCI (4.2 mos.)
PITC (6 mos.)
NDA
PPA
HDMF, AGLO
Page 13 of 21
No. of GOCC
Membership(s)
1
1
1
1
1
1
1
1
2
1
1
1
1
1
1
1
1
1
2
1
1
1
2
3
2
3
1
1
1
1
1
1
9
1
1
1
1
1
1
1
1
1
1
1
1
2
Name of Agency(ies)
NRDC
BSoP
PPA
PMDC
LIBI
TRC
NFC
DBP
PITAHC
BLCI (7.7 mos.)
VFP
PRA
TPB
PNR, NHA
No. of GOCC
Membership(s)
1
1
1
1
1
1
1
1
1
1
1
1
1
2
N
Nadal, Virgilio P.
Naguiat, Carmelo T.
Naguiat, Cristino L.
Naguit, Rodolfo C.
Naliponguit, Ella Cecilia G.
Nangel, Antonio S.
Nantes, Betty B.
Ng, Melanie C.
Nisce, Ives Q.
Noblefranca, Robert C.
Noveras, Gerardo A.
Nuesa, Sherisa P.
Nuguid, Enriquito M.
Nunag, Lucas M.
Nuez, Jose Jr. A.
PTNI
PAFC
PAGCOR
PNCC (6 mos.)
PITAHC
NIA (6 mos.), NIACI (6 mos.)
PCSO
MCIAA
PPMC
SUMSI
APECO, NLPCSI
PRA (11.3 mos.)
PAGCOR
TIEZA
DBP, DLC, AAIIBP, NDC, NFA,
PITC
1
1
1
1
1
2
1
1
1
1
2
1
1
1
6
O
Oban, Eduardo SL
Obien, Evelyn Julieta A.
Oca, Ramon Allan V.
Ochoa, Paquito Jr. N.
Olalia, Richard D.
Oliveros, Ma. Ana R.
Ona, Enrique T.
PPA (3 mos.)
PRC
PMDC
PCED, NFA, NHA
CEZA
SHFC
OSHC, ECC, DOH, PCMC, LCP,
DAP, PITAHC, PHIC, NKTI,
PHC
BSoP
JHMC
LRTA
PCFC
Page 14 of 21
1
1
1
3
1
1
10
1
1
1
1
Annex 2
Name of Agency(ies)
BSoP (6 mos.)
NPF
TPB
MSI
PPC
TIEZA
No. of GOCC
Membership(s)
1
1
1
1
1
1
P
Pacanan, Jaime A.
Pacio, Leandro Jr. T.
Pacturan, Jerry E.
Paderanga, Cayetano Jr. W.
Padilla, Alexander A.
Padolina, William G.
Pagdanganan, Roberto M.
Paje, Ramon Jesus P.
PEZA, NHA
VFP
NDA
DAP, NHA, TIDCORP
PHIC (7 mos.)
PIDS
BSoP
BFI, NPC, TRANSCO, NDC,
LLDA, NRDC, PFDA, PFC, PMDC,
TIEZA, PITC, DAP, TRC
2
1
1
3
1
1
1
13
Palacios, Luz R.
Palad, Emerson U.
Pama, Alexander P.
Pamaran, Manuel R.
Panadero, Austere A.
Panagsagan, Grace Q.
Panaligan, Teodoro V.
Pangilinan, Salvador D.
Panlilio, Cristino L.
Paraluman, Edwin Y.
Paras, Ricardo III V.
Pardo-Aguilar, Diana V.
Pascua, Rogelio A.
Pascual, Alfredo E.
Patalinghug, Epictetus E.
Paul, Jeremias Jr. N.
Paulino, Cynthia C.
Pedrosa, Carlos A.
Pelaez, Jose Marie G.
Peaflor, Gerard Anthony
Peralta, Gloria F.
Petilla, Carlos Jericho L.
APU (6 mos.)
NABCOR, NTA, ZREC
AFPRSBS
VFP
PEZA
NPF
NDA
BSoP
PNCC, TIDCORP (1 mo.)
NFA
MIAA, MCIAA
SSS
VFP
PCED
LRTA
PDIC
SBMA (.2 mo.)
PITC (3 mos.)
BSoP
GYREI
JHMC (11 mos.)
NDC, PNOC, NEA, NPC, PSALM,
TRANSCO
PNOC-EC, PMPC
LBP, LLC, NLDC, PCFC, LBRDC,
LCDFI, SBC, NFA, PCIC, CITEM
1
3
1
1
1
1
1
1
2
1
2
1
1
1
1
1
1
1
1
1
1
6
Petilla, Leopoldo E.
Pico, Gilda E.
Piczon, Manuel C.
Annex 2
LBRDC
Page 15 of 21
2
10
Name of Agency(ies)
PNCC, DISCCBGSI
LLDA
PDA
SBMA
PADC
VFP, PIA
PDA
NLPCSI
CEZA
SHFC
LLC
BSP, DOF, PDIC, LBP, NHA (8
mos.), NHMFC, HDMF, TIDCORP,
HGC, NPC, PSALM, TRANSCO,
LRTA, PNR, NDC, PADC, MIAA,
CAAP, MCIAA (6.9 mos.), NFA (9
mos.), OWWA, DFPC, DAP, PCED,
PHIC (4 mos.)
No. of GOCC
Membership(s)
2
1
1
1
1
2
1
1
1
1
1
25
Q
Quebral, Mark Andrew C.
Quesada, Dr. Ramon M.
Quintos, Joaquin IV E.
BLCI
SBC
CIC
1
1
1
R
Rabuco, Benjamin III F.
Racho, Percianita G.
Ragandang, Raul D.
Ragrario, Junio M.
Ramirez, Mario L.
Ramos, Livia Alicia R.
Raeses, Nestor O.
Rebueno, Ma. Lourdes F.
Rebustes, Felixberto I.
Regalado, Andrew O.
Regondola, Philip Ronald P.
Reinoso, Ruben Jr. S.
Relampagos, Mario L.
Relleta, William Sr. D.
Respicio, Melosino L.
Reyes, Edward John T.
Reyes, Joven D.
Reyes, Lucita P.
4
1
1
1
1
1
1
11
1
1
1
2
9
1
1
1
1
1
Annex 2
Name of Agency(ies)
MSI
AFPRSBS
PCFC
DISCCBGSI, GSIS, PNCC, (9.5
mos.)
PPSBI
IBC (1 mo.)
JHMC (11 mos.)
NPC, PIA, PSALM, TRANSCO
ECC, DOLE, OSHC, AFW
DCI, DLC
PRA
PCFC
GYREI
LLC
BSoP
TPB
NIACI
MSI
NPC, NRDC, TRC, TIEZA, PHIC,
CAAP
AFAB
PCFC
No. of GOCC
Membership(s)
1
1
1
3
1
1
1
4
4
2
1
1
1
1
1
1
1
1
6
1
1
S
Salacup, Salvador S.
Salazar, Jesus Enrico Moises B.
Salazar, Jose Vicente B.
Salazar, Marlou L.
Salazar, Ralph Pastor A.
Salcedo, Bituin V.
Salvador, Serafin Jr. U.
Salvatierra, Renato B.
Salvosa, Ray Dean D.
San Miguel, Francisco T.
Sanchez, Manuel R.
Sanchez, Christine L.
Sandejas, Francisco S.A.
Sandoval, Pablito S.
Santiago, Carmelo L.
Santiago, Eliseo B.
Santiaguel, Emmanuel M.
Santos, Eduardo C.
Santos, Erwin Krisha N.
Santos, Juan Bernal
Santos, Manuel Jr. F.
Annex 2
FTI
NORTHRAIL (6 mos.)
MIAA
AFPRSBS
PRC (7 mos.)
PPSBI
BCDA (6 mos.), NORTHRAIL (6
mos.)
PHILSUCOR
NPF (6 mos.)
VFP
HGC
PDGCC
CIC
SRA
APECO (11 mos.)
CDC
QUEDANCOR
LWUA
PFC
SSS
TPB
Page 17 of 21
1
1
1
1
1
1
2
1
1
1
1
1
1
1
1
1
1
1
1
1
1
Name of Agency(ies)
PDGCC (4 mos.)
PCFC
PPSBI, PPC
PICCI
LCDFI, SBC, FTI, LLC, SYC
PAGCOR
PDA
APECO (2 mos.)
PITAHC
PHILSUCOR
PCA
VFP
BSoP
PEZA
SBMA
NDA (9 mos.)
TRANSCO
SBMA
APU
PRA
FTI, NRDC, PMDC (11 mos.), NHA
(2 mos.)
NHA, LRTA, TIEZA, HSDC, NIA,
PFDA, TRC, DPWH
PNCC, DISCCBGSI
PPC
NABCOR
PHIC
PRRI
LLDA
LBRDC
MWSS
OWWA
VFP
SBMA
SBC
PHIC
PPA
NIA (5 mos.), NPC, PDMC (9 mos.),
PNOC
ZCSEZA
PCIC
FTI
NFC
NIACI (9 mos.)
PDGCC
BSP
PSALM, MCIAA (2 mos.)
Page 18 of 21
No. of GOCC
Membership(s)
1
1
2
1
5
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
4
8
2
1
1
1
1
1
1
1
1
1
1
1
1
1
4
1
1
1
1
1
1
1
2
Annex 2
Name of Agency(ies)
PTNI (6 mos.)
No. of GOCC
Membership(s)
T
Tabaquin, Anthony IV M.
Tabije, Ismael D.
Tabora, Nicolas R.
Tacandong, Protacio T.
Tagalog, Adelaida L.
Taguines, Mario L.
Tampinco, Froilan A.
Tan, Celia Z.
Tan, Maria Edita Z.
Tan, Roberto B.
Tanjuatco, Jose S.
Tantoco, Zenaida R.
Taradji, Ajijul Adam
Teh, Analiza R.
Tengco, Antonio H.
Tetangco, Amando Jr. M.
Teves, Margarito B.
Tibig, Paulo M.
Timbol, Aurora F.
Tiu, Joan Denise Y.
Tobias, Darwin A.
Tolentino, Ma. Aleta L.
Tolentino, Conrado K.
Tolentino, Francis N.
Toreja, Cornelio V.
Torres, Guillermo Jr. P
Train, Cedrick G.
Trasmonte, Lourdes M.
Tuazon Ronaldo S.
Tugade, Arthur P.
Tuico, Oliver R.
Tumaru, Ismael V.
Tungpalan, Rolando G.
Tupaz, Vladimir R.
Turalba, Cristina V.
Tutaan, Domingo Jr. J.
Tuy, Orfelina O.
Ty, Allan
PPMC
NIA
PPMC
PDIC
PDGCC
PRC (6 mos.)
NIA (7 mos.)
FTI
MIAA, MCIAA (6.9 mos.), NHA (8
mos.), SHFC, DOF
PDGCC
PAGCOR
CCP
SBC
NPC
JHMC
BSP, PDIC, PICCI, NHMFC,
TIDCORP, NDC, NFA, PRA,
PCED, CITC, CITEM
LCDFI
AFAB
PPI
DFPC
CEZA
PCSO
NORTHRAIL (6 mos.)
LRTA, LLDA, TRC
PHILSUCOR
SHFC
BSoP
NHA (1 mo.)
PPC
CDC
ZREC
CEZA
NPC, PEZA, NHA
OSHC, ECC
CCP
AFPRSBS
BSoP
CEZA (1.3 mos.)
1
1
1
1
1
1
1
1
5
1
1
1
1
1
1
11
1
1
1
1
1
1
1
3
1
1
1
1
1
1
1
1
3
2
1
1
1
1
U
Umali, Alfonso, Jr. V.
Annex 2
QUEDANCOR (1 mo.)
Page 19 of 21
Name of Agency(ies)
ZREC
BSoP
MSI
PNOC-EC, PMPC
No. of GOCC
Membership(s)
1
1
1
2
V
Valdeavilla, Sonia T.
Valera, Madeleine DR.
Varela, Jesus B.
Varela, Miguel B.
Varona, Francisco Victor S.
Varona, Ma. Lourdes
Velarde, Ruel T.
Velasco, Luis Rey I.
Velasco, Rosanna E.
Velasco, Yolanda D.
Velez, Gilda M.
Velez, Patrick M.
Vera, Jose Luis L.
Vergara, Robert G.
TIDCORP
LCP, NKTI (6 mos.)
HDMF, AWAREF Inc.
OSHC, ECC, ECOP
GFB, TIDCORP
PPC
PDA
PRRI
PNCC (3 mos.)
LIBI
DBPMC, DLC
PADC
DBP, AAIIBP
GSIS, OSHC, ECC, PSE, SCCP,
NRCP, NDRRMC, Asian Forum
Inc., PADC, PNCC, PHIC, CITEM
1
2
2
3
2
1
1
1
1
1
2
1
2
12
Versoza, Mitchel I.
Vertido, Damaso C.
Villa, Rene C.
Villafuerte, Reynauld V.
Villanueva, David M.
Villanueva, Francisco L.
Villanueva, Joel J.
Villar, Susan S.
Villarete, Nigel Paul C.
Villariba, Cesar C.
Villarica, Margarita F.
Villarin, Jose Ramon T. SJ
Villo, Ricardo Jr. A.
Vinluan, Nora O.
Viray, Roberto F.
Visperas, Eduardo C.
Vistan, Deogracias N.
Vizconde, Kauro G.
PPMC
SHFC
LWUA (11 mos.)
LIBI
PCIC (1 mo.)
CDC
CITC
PICCI
MCIAA
PCA
TPB
MWSS
NFC
PNCC, DISCCBGSI
DBPMC, DCI
APU
LCDFI
IBC
1
1
1
1
1
1
1
1
1
1
1
1
1
2
2
1
1
1
W
Wilson, Isabel C.
Wong, Paz B.
CCP
PITAHC
1
1
Y
Page 20 of 21
Annex 2
Name of Agency(ies)
KRC
MWSS
CCP
PIDS (6 mos.)
LLDA
LLDA
ZCSEZA (7 mos.)
GSIS, NRCP
PADC (3 mos.)
BSoP
TIDCORP
NDA
NDC
No. of GOCC
Membership(s)
1
1
1
1
1
1
1
1
1
1
1
1
1
Z
Zaragoza, Edgardo D.
Zayco, Freddie W.
Zialciata, Benigno III L.
Zubiri, Ma. Jose R.
Annex 2
NTA
PHILSUCOR
TIDCORP
BFI (6.5 mos.)
Page 21 of 21
1
1
1
1
Annex 3
List of GOCCs not included in the report
Name of Agencies
Audit On-going
Audit On-going
CLUSTER 4
1 Laguna Lake Development Authority
CLUSTER 5
1 National Agribusiness Corporation
Page 1 of 1
Annex 3
Annex 4
Summary Functions of GOCCs
Cluster 1 - Banking and Credit
This Cluster has audit jurisdiction over GOCCs engaged in banking and credit, and other
related operations. In general, the functions of these GOCCs include the following:
Formulate and implement policies in the areas of money, banking and credit with the
primary objective of maintaining stable prices conducive to balanced and sustainable
economic growth in the Philippines; maintain the countrys international reserves,
perform credit operations, engage in open market operations, exercise supervision over
banking institutions, operate the interbank real-time gross settlement system, act as a
banker of the government, and has the sole power and authority to issue currency;
Retain and administer, dispose of and liquidate the assets and liabilities of the then Central
Bank of the Philippines not transferred to or assumed by the Bangko Sentral ng Pilipinas;
Receive and consolidate basic credit data, to act as central registry or central repository of
credit information or credit history and financial condition of borrowers;
Management, operation and administration of the PICC for use in the holding of
international conferences, conventions, meetings, seminars and the like, including but not
limited to, special events, professional exhibitions and trade shows, and other special
services as may be required by the users thereof;
Provide banking services principally to cater to the medium and long-term financial needs
of agricultural and industrial enterprises particularly in the countryside with emphasis on
small and medium-scale industries;
Develop and implement non-banking systems for private and government entities;
Purchase or dispose of real and personal property of every kind and description, including
shares of stocks, bonds, debentures, notes, evidences of indebtedness, and other securities
or obligations of any corporation or association and manage the general business of any
company;
Engage in the business of leasing in all its aspect, and to arrange or underwrite or
administer leases of all types of real or personal properties and all kinds of equipment,
machines, vehicles, and facilities, especially maritime vessels for the carriage of
passengers, freight, cargo, vehicles, goods and merchandise of every kind and description;
Annex 4
Page 1 of 7
Engage in the business of banking, financing, leasing, real estate, insurance brokering and
other related services to personal, commercial, corporate and institutional clients;
Engage in the business of buying and selling of foreign currencies; and buying, selling,
importing, exporting and/or dealing in any manner, at wholesale or retail, goods and
merchandise;
Engage in direct lease or financial lease of all kinds of equipment and all types of personal
and real properties;
Engage in the business of financing merchandise particularly but not limited to appliance,
automobile, and truck retail sales, agricultural machinery and equipment and to engage in
the business of commercial, agricultural and industrial financing, factoring and/or leasing;
Extend credit facilities to government and private individuals and corporate entities, and
make loans with or without such security;
Engage in the building, reconstructing, repair, remodeling and renovation, alteration and
improvement of private houses and dwellings, commercial buildings and government
owned and controlled corporations and establishments in support of its role under the
Comprehensive Agrarian Reform Program;
Engage in, operate and carry on, the business of providing and rendering general
manpower services, such as but not limited to management and technical services,
janitorial services, maintenance services, clerical messengerial, security services and other
allied services;
Engage in and carry on the business of purchase, and acquire, operate, maintain, lease,
sell, and dispose of and deal in agricultural equipment and farm machineries and all other
articles pertaining to agriculture;
Make available its farm equipment and machineries to the farmers, owner-cultivators,
agricultural lessees, tillers and/or other beneficiaries of land reform for farm
mechanization and development so as to obtain full utilization of lands and enhancement
of agricultural products;
Engage in the business of purchase and sale, barter and exchange of rice and other cereals,
and other commodities of native production in the Philippines;
Page 2 of 7
Annex 4
Engage in the business of wholesale financing serving the financial needs for the
livelihood and income-generating activities of the Filipino poor primarily those falling
below the poverty level;
Promote and safeguard the interests of the depositing public by way of providing
permanent and continuing insurance coverage on all insured deposits;
Ensure the continuous payment of retirement and separation benefits due to the members
of the Armed Forces of the Philippines;
Provide meaningful and appropriate compensation to workers and their dependents in the
event of work-connected contingencies such as sickness, injury, disability or death;
Provide and administer social security benefits for all employees of the Philippine
government, administer the General Insurance Fund and provide insurance coverage to
assets and properties that have government insurable interests;
Manage, improve, develop, dispose, exchange, lease and hold for investment or otherwise,
the acquired assets of the GSIS which consists of properties of all kinds including
buildings, houses, apartments and other structures;
Engage in the business of banking, financing, real estate, and other related services to
personal, commercial, corporate and institutional clients;
Answer the need for a national savings program and an affordable shelter financing for the
Filipino workers;
Annex 4
Page 3 of 7
Develop housing projects which provide and maintain adequate housing for the greatest
possible number of people by developing and implementing a comprehensive and
integrated housing and resettlement program;
Operate a viable mortgage market, utilizing long-term funds principally provided by the
SSS, GSIS and HDMF, to purchase mortgages originated by both public and private
institutions that are within government approved guidelines, and administer the
developmental loan financing assistance and amortization support components of the
Abot-Kaya Pabahay Fund;
Undertake continuing studies and researches on occupational safety and health; plan
develop and implement training programs; serve as duly recognized agency for testing and
setting standard and specifications of personal protective equipment and other safety
devices;
Managing and holding title to the common areas of the eight-storey building
condominium;
Implement comprehensive policies and programs to assist Micro, Small and Medium
Enterprises in all areas, including but not limited to finance and information services,
training and marketing;
Undertake financing of social housing programs that will cater to the formal and informal
sectors in the low-income bracket and shall take charge of developing and administering
social housing program schemes;
Administers social security protection to workers in the private sector which will provide
replacement income for workers in times of death, disability, sickness, maternity and old
age;
Operate deep-well water utilities or otherwise, acquire, sell, lease, convey, mortgage or
encumber, and otherwise deal with any property or interest therein, or easement, right or
privilege over or in respect of any property, real or personal and to maintain and manage
the utilities acquired; and
Set up transmission line grids and construction of associated power generating facilities in
Luzon and Mindanao, and major island grids of the country, including the Visayas;
Promote, develop and finance local water utilities and electric cooperatives;
Page 4 of 7
Annex 4
Operate and maintain waterworks systems to ensure continuous supply and distribution of
portable water;
Develop, operate and maintain sewerage and irrigation systems all over the country;
Integrate and coordinate the planning, development, construction and operation of ports,
airports and other facilities appurtenant thereto.
Identify and develop sites in the country as prospective industrial areas and equip these
areas with the necessary infrastructures to encourage the inflow of domestic and foreign
investments;
Develop certain areas declared as special economic zones into self-sustaining industrial,
commercial, financial, investment and academe centers to generate employment
opportunities in and around the zones and to attract and promote productive foreign
investments;
Convert into alternative productive uses of the Clark and Subic military reservations and
extensions, raise funds by the sale of portions of Metro Manila military camps, apply said
funds for the development and conversion to productive civilian use of the lands covered
under the 1947 Military Bases Agreement and promote the economic and social
development of Central Luzon in particular and the country in general;
Convert underutilized land into valuable and income-generating real estate properties;
Annex 4
Page 5 of 7
Promote the integrated growth and development of the grains industry, to provide food
security in the staple cereals in times and places of calamity or emergency, both natural or
man-made and to promote the stabilization of supply and prices of staple cereals both at
the farm-gate and consumer levels;
Maintain a stable supply of staple food and develop the food industry by providing
marketing, infrastructure support systems for the small and medium scale food enterprises;
Institute an orderly system in sugar cane production for the stable, sufficient and balanced
production of sugar for export and local consumption, and strategic reserves;
Promote the development of the fishing industry and improve the efficiency in marketing
and distribution of fish and fishery/aquatic products through the establishment and
operation of fish port complexes throughout the country;
Promote the rapid integrated development and growth of the coconut and other palm oil
industry in all its aspects and to ensure that the coconut farmers become direct participants
in, and beneficiaries of such development and growth;
Accelerate the flow of investments and credit resources into the countryside so as to
trigger the vigorous growth and development of rural productivity, employment and
enterprises to generate more livelihood and income opportunities through the various
quedan credit and guarantee programs;
Improve the economic and living conditions and raise the quality of life of the tobacco
farmers including those who depend upon the industry for their livelihood. Promote the
balanced and integrated growth and development of the industry and help make agriculture
a solid base for massive industrialization. Administers and regulates the tobacco industry
of the Philippines;
Promote and undertake the development and use of technologies and systems that
complement the utilization of natural resources;
Foster growth and renewal of communities, both urban and rural, in an integrative manner
that promotes optimum land use, adequate shelter, environment protection, utilization of
appropriate technologies and rational inter-dependence among self-reliant communities;
Provide prime location, quality facilities and services for businesses. To be an agroindustrial-commercial estate of choice within the heart of Metro Manila supported by an
organization that is customer focused and committed to deliver a high standard of service
to its partners;
Page 6 of 7
Annex 4
Undertake the mining and mineral processing operations in the 8,100 hectare Diwalwal
Mineral Reservation Area located in the Municipality of Monkayo, Compostela Valley
Province; and
Centralization and integration of the right and authority to operate and conduct games of
chance in corporate entities to be controlled, administered and supervised by the
government;
Construction, establishment and maintenance of national theater and music hall, art gallery
and such other buildings and facilities necessary for the holding of conferences, seminars,
concerts and the likes;
Provision of research, training and health care benefits, medical assistance, services and
charities of national character;
Establishment of micro, small and medium scale enterprises, trade fairs, special exhibits,
trade missions and other promotional activities here and abroad;
Operate, maintain and provide various services that aim to increase work opportunities and
improve the productivity of low-income families;
Engagement in projects and activities that may be profit-oriented, for the purpose of
providing permanent and continuing sources of funds for health programs, medical
assistance, socio-civic and national development efforts; and
Helping the government planners and policy-makers in its planning and policy formulation
activities.
Annex 4
Page 7 of 7
Annex 5
Ranking by Total Assets
CY 2013
Rank
Name of GOCC
Amount
(in thousand pesos)
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
Page 1 of 1
4,202,085,578
1,041,620,374
788,045,617
427,352,373
384,633,278
358,671,123
344,674,070
155,968,138
131,242,278
129,268,283
122,364,185
117,736,639
105,984,626
71,097,519
66,523,377
53,809,496
52,868,619
40,609,175
39,633,533
36,521,319
Annex 5
Annex 6
Ranking by Total Liabilities
CY 2013
Rank
Name of GOCC
Amount
(in thousand pesos)
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
Annex 6
Page 1 of 1
4,161,314,675
921,258,228
416,566,627
386,598,962
165,810,075
145,055,227
103,293,998
65,912,021
65,737,499
62,603,475
38,251,762
37,955,051
31,897,608
26,114,602
25,721,329
22,560,656
21,714,784
20,252,676
17,694,599
17,092,369
Annex 7
Breakdown of Domestic Loans
December 31, 2013
(in thousand pesos)
Name of GOCC
1 Power Sector Assets & Liabilities Management
Corporation
Source
Bonds: HSBC-Tranche B
Bonds: Bureau of Treasury
Syndicated Term Loan: Land Bank of the Philippines
Due to Other Government Agency - NG Relending Facility
Due to Other Government Agency - QAPA - DOE Facility
6,320,000
30,000,000
73,125,000
32,200,000
118,382
28,540,000
15,000,000
10,000,000
8,200,000
3,000,000
1,830,000
430,000
Bureau of Treasury
17,000,000
22,715,000
Annex 7
Amount
Page 1 of 6
14,500
141,763,382
Name of GOCC
Source
Development Bank of the Philippines-Minprocor
Human Settlements Development Corporation
Amount
91,200
509,094
205
120
29,848,407
490,331
1,819,200
23,677,452
3,522,008
1,101,620
5,000,000
12,000,000
2,829,468
3,107,554
266,584
156,480
Annex 7
62,762,203
Page 2 of 6
107,330,119
4,875,000
32,157,938
28,301,080
17,000,000
11,235,086
Name of GOCC
8 National Development Company
Source
Bondholders
Bureau of Treasury
Development Bank of the Philippines
DOLE Philippines, Inc.
3,500,000
3,780,764
396,753
4,052
Department of Agriculture
2,084,218
480,276
200
Annex 7
2,418,753
22,575
34,555
23,600
Various
7,681,569
117,083
Amount
7
2,863
5,184,130
2,074,968
2,074,968
4,149,936
2,000,000
625,000
2,625,000
1,700,000
Page 3 of 6
500,000
2,200,000
Name of GOCC
Source
5,000
Security Bank
279,000
1,366,071
1,729,703
179,177
140,000
Annex 7
64,144
196,176
355,626
98,795
1,820,346
Banco de Oro
Amount
Page 4 of 6
2,104,346
2,080,812
5,000
25,120
2,079,000
6,891
2,009,351
946
2,017,188
1,238,286
Name of GOCC
18 Clark International Airport Corporation
Source
Philippine Veterans Bank
Land Bank of the Philippines
Amount
253,151
313,000
566,151
515,440
500,677
436,331
78,583
53,524
142,781
PCIB/MAF
19,888
National Secretariat
30,000
3,403
328,179
261,885
50,000
311,885
291,795
240,748
160,000
Annex 7
Page 5 of 6
Name of GOCC
Source
Amount
97,768
55,000
152,768
120,366
85,868
8,650
3,131
97,649
76,078
42,438
38,538
30,000
TOTAL
Annex 7
1,137
476
435,820,731
Page 6 of 6
Annex 8
Breakdown of Foreign Borrowings
December 31, 2013
(in thousand pesos)
Name of GOCC
1 Power Sector Assets and Liabilities
Management Corporation
Annex 8
Source
Amount
26,175,825
44,414,000
53,296,800
18,542,845
22,207,000
5,086,800
5,287,381
7,106,240
13,324,200
11,670
(1,089,589)
1,263,999
1,242,588
70,926
398,926
1,647,526
80,505
Page 1 of 6
Name of GOCC
Annex 8
Source
Amount
Eximbank of Korea
International Bank for Rural Development
Instituto De Credito Oficial
International Development Association
Japan Bank for International Cooperation loans
Kreditanstalt Fuer Wiederaufbau loans
Nordic Development Fund
Nordic Investment Bank
Overseas Economic Cooperation Fund of Japan
US Agency for International Development
1992 Bond Conversion
158,418
2,890,128
530,801
113,436
1,393,658
5,660,467
208,764
30,020
2,272,717
9,776
3,019,308
Citibank Na Manila
Wells Fargo Bank Na London
ING Bank Singapore
ANZ Bank Singapore
BDS Bank Ltd. Singapore
Standard Chartered Bank Singapore
Bank of New York Singapore
Sumitomo Bank Hong Kong
Wells Fargo Bank Na Miami
DBS Bank Ltd. Singapore
Bank of America Singapore
Cobank Denver
DND Bank ASA, Singapore
DNB Bank ASA, Singapore
Commerzbank AG Singapore
2,219,750
2,219,750
887,900
3,053,266
1,331,850
1,815,756
443,950
3,107,650
887,900
3,553,569
887,900
Page 2 of 6
8,141,842
221,975
221,975
532,740
215,355,135
Name of GOCC
Source
Bangkok Bank Manila
Zurcher Kantional Bank Zurich
Mizuho Corporation Bank of Manila
Deutsche Bank AG London
Deutsche Bank Trust Co. NY
Barclays Bank AG London
ING Bank Amsterdam
Amount
221,975
443,950
355,160
781,352
997,338
1,430,211
1,878,813
35,636,572
27,226,839
576,298
162,190
149,891
28,115,218
2,912,192
362,429
56,369
1,458,649
5,122,279
5,880,366
Exim Bank
Annex 8
22,624,760
426,999
345,850
Page 3 of 6
9,911,918
Name of GOCC
Source
Land Bank of the Philippines
Japan Bank for International Cooperation/Overseas Economic
Cooperation Fund of Japan I
Amount
305,641
222,703
7,181,559
33,481
1,607,750
16,717
2,304,450
22,113
870,189
4,854,700
2,007,455
2,767,334
4,774,789
3,728,268
62,470
3,790,738
860,505
1,391,266
446,208
147,806
2,845,785
Annex 8
Page 4 of 6
6,197,227
844,170
Name of GOCC
Source
Amount
711,548
621,437
2,177,155
638,454
261,023
899,477
339,500
50,325
51,915
441,740
138,261
138,775
277,036
139,040
83,155
49,059
271,254
97,002
4,758
241
102,001
Annex 8
Page 5 of 6
333,112
64,439
Name of GOCC
20 Bangko Sentral ng Pilipinas
Annex 8
Source
Amount
4,096
28,784
20,935
53,815
15,040
12,944
16,857
44,841
Deutsche Bank
46,001
345,999,272
Page 6 of 6
Annex 9
Ranking by Total Equity
CY 2013
Rank
Name of GOCC
Amount
(in thousand pesos)
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
Page 1 of 1
756,148,009
371,720,388
282,070,595
213,615,896
120,362,146
116,075,735
115,644,448
94,205,799
91,016,521
90,230,639
55,196,306
40,770,903
40,753,411
36,717,127
35,225,858
26,754,017
22,615,102
20,628,524
18,718,834
16,974,890
Annex 9
Annex 10
Ranking by Gross Income
CY 2013
Rank
Name of GOCC
Amount
(in thousand pesos)
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
Annex 10
Page 1 of 1
139,172,764
137,874,258
62,174,515
62,055,412
43,823,565
40,528,988
29,445,740
21,697,950
19,478,407
19,251,040
13,819,009
11,779,930
11,068,593
10,525,305
8,603,259
8,525,591
7,548,691
5,029,371
4,516,457
3,898,793
Annex 11
Ranking by Total Expenditures
CY 2013
Rank
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
Name of GOCC
Amount
Name
Page 1 of 1
100,276,624
90,811,640
87,226,795
60,365,256
43,832,007
32,703,424
18,556,123
16,121,597
15,008,836
13,969,234
10,148,813
9,575,756
8,077,753
5,791,732
5,336,570
4,636,335
4,105,350
3,745,372
3,319,637
3,309,832
Annex 11
Annex 12
Summary of Discretionary, Representation, Extraordinary,
Promotional, Confidential and Consultancy Expenses
For the year ended December 31, 2013
(in thousand pesos)
Name of GOCC
Discretionary
Representation/
Entertainment
Extraordinary/
Contingency/
Emergency
Promotional/
Advertising
145,342
34,704
1,544,365
504
-
1,650
260,199
315,696
82,615
24,305
16,663
20,593
5,201
8,585
2,831
3,094
2,997
624
24,338
1,206
1,458
397
824
5,453
776,229
100,006
31,265
136,097
91,485
32,094
2,705
78,256
3,137
69,928
16,617
-
10,278
1,562
-
718
469
4,797
604
1,198
5,537
4,166
495
381
-
27,715
690
26
Annex 12
Page 1 of 5
Confidential/
Intelligence
Consultancy
Total
Share in
total
expenses
3,171,059
4,895,470
0.05%
149,883
552
6,000
10,000
-
298
14,172
18,543
15,145
2,922
67,702
79,282
20,515
58,646
1,151
781,271
524,260
369,053
234,985
143,050
117,665
110,037
104,369
81,192
79,363
86.82%
2.83%
0.42%
0.24%
0.24%
0.78%
1.67%
3.00%
3.00%
0.78%
24,000
-
48,545
15,817
46,898
63,620
59,318
48,565
1.06%
1.65%
11.38%
9,690
31,687
36,268
42,942
36,924
36,789
0.05%
1.00%
40.46%
Name of GOCC
PNOC-Exploration Corporation
Power Sector Assets & Liabilities Management
Corporation
National Food Authority
Center for International Trade Expositions and Missions
Philippine National Oil Company
Clark Development Corporation
Local Water Utilities Administration
Subic Bay Metropilitan Authority
NIA Consult, Inc.
Philippine Postal Savings Bank, Inc.
Social Housing Finance Corporation
Philippine Deposit Insurance Corporation
Philippine Postal Corporation
Philippine Retirement Authority
Philippine Crop Insurance Corporation
Tourism Infrastructure and Enterprise Zone Authority
Overseas Workers Welfare Administration
Aurora Pacific Economic Zone Authority
National Home Mortgage Finance Corporation
Credit Information Corporation
Clark International Airport Corporation
Philippine Economic Zone Authority
Home Guanranty Corporation
Cagayan Economic Zone Authority
Philippine National Railways
National Housing Authority
Philippine International Convention Center, Inc.
Annex 12
Discretionary
1,200
2,435
Representation/
Entertainment
Extraordinary/
Contingency/
Emergency
Promotional/
Advertising
Confidential/
Intelligence
Consultancy
Total
Share in
total
expenses
2,969
6,503
2,199
3,875
3,869
29,005
18,700
35,849
31,271
15,262
3,809
6,530
3,893
16,030
2,107
72
9,855
310
4,782
18,855
4,043
13,526
1,406
2,301
2,481
4,574
5,383
3,413
25,652
25,217
25,003
22,802
21,159
0.08%
10.28%
9.44%
2.41%
2.35%
7,676
12,231
13,876
428
-
3,037
827
1,094
2,932
2,699
16,027
8,882
3,821
7,392
18,373
4,402
136
13,444
2,084
5,522
18,533
18,373
17,460
17,431
17,104
16,664
16,630
16,061
15,068
1.06%
63.14%
3.98%
5.34%
1.29%
0.56%
12.47%
7.93%
1.25%
11,811
5,529
2,459
258
10,191
8,881
3,968
2,767
1,201
735
5,989
765
-
5,809
1,734
12,906
1,348
2,418
569
2,279
4,500
2,636
14,868
14,198
13,970
13,272
12,960
12,863
12,035
8,846
8,174
7,937
7,686
0.93%
22.00%
1.47%
57.52%
2.45%
0.19%
1.00%
4.80%
0.89%
0.24%
4.09%
489
2,790
5,725
464
36
-
616
2,734
3,611
72
1,421
1,564
3,533
3,517
2,474
4,566
1,697
Page 2 of 5
26
14,036
520
114
2,305
0
1,212
126
6,166
3,965
283
-
5.61%
0.07%
Name of GOCC
Metropolitan Waterworks & Sewerage System
GSIS Family Bank
Small Business Corporation
Philippine Reclamation Authority
People's Television Network, Inc.
National Transmission Corporation
Food Terminal, Inc.
National Development Company
Authority of the Freeport of Bataan
National Irrigation Administration - Corporate Fund
Occupational Safety and Health Center
Philippine International Trading Corporation
Technology Resource Center
APO Production Unit, Inc.
PNOC-Alternative Fuels Corporation
John Hay Management Corporation
PNOC-Renewables Corporation
Philippine Coconut Authority
People's Credit and Finance Corporation
Trade and Investment Development Corporation of the
Philippines
Philippine Institute for Development Studies
National Tobacco Administration
National Kidney and Transplant Insitute
Philippine Fisheries Development Corporation
LBP Leasing Corporation
National Electrification Administration
PNOC-Development Management Corporation
Nayong Pilipino Foundation, Inc.
Annex 12
Discretionary
653
855
194
62
518
555
227
-
Representation/
Entertainment
Extraordinary/
Contingency/
Emergency
Promotional/
Advertising
Confidential/
Intelligence
1,464
6,254
5,399
897
962
3,035
1,366
2,576
1,186
2,137
2
1,033
2,061
1,498
1,310
465
864
1,545
890
5,088
475
6,143
373
357
128
423
18
1,061
1,504
264
-
960
155
1,051
859
316
769
76
322
809
942
4,209
1,908
524
160
105
1,535
556
816
1,380
1,625
309
3,114
716
1,826
690
1,246
1,127
109
177
310
645
224
491
196
1,087
413
618
Page 3 of 5
13
-
Consultancy
Total
3,433
988
851
5,128
3,718
2,511
3,223
1,634
34
1,305
3,861
4,025
2,486
1,496
1,497
1,542
1,641
300
7,401
7,397
6,990
6,733
6,341
6,304
6,219
6,062
5,771
5,509
5,491
5,478
5,328
5,219
4,670
4,529
4,424
4,327
4,149
4,025
3,593
327
2,818
1,560
1,237
1,233
360
4,011
3,842
3,619
3,117
2,913
2,567
2,492
2,105
Share in
total
expenses
0.41%
3.70%
2.13%
3.32%
1.94%
0.11%
5.90%
1.70%
0.77%
0.13%
5.40%
5.63%
2.44%
3.27%
4.22%
6.00%
10.40%
0.27%
0.01%
0.94%
4.88%
1.40%
0.15%
0.51%
1.67%
0.70%
5.30%
5.64%
Name of GOCC
DBP Leasing Corporation
AFP Retirement and Separation Benefits System
Lung Center of the Philippines
Philippine Institute of Traditional and Alternative Health
Care
Cultural
Center of the Philippines
Philippine Mining Development Corporation
Employees' Compensation Commission
Zamboanga City Special Economic Zone Authority
Northern Foods Corporation
Poro Point Management Corporation
Human Settlements Development Corporation
PITC Pharma, Inc.
Philippine Sugar Corporation
Philippine Heart Center
National Dairy Authority
Manila Gas Corporation
Sugar Regulatory Administration
Philippiine National Construction Corporation
LBP Resources and Development Corporation
Philippine Forest Corporation
Veterans Federation of the Philippines
Philippine Aerospace Development Corporation
Philippine Rice Research Institute
Land Bank Insurance Brokerage, Inc.
Natural Resources Development Corporation
Quedan and Rural Credit Guarantee Corporation
Masaganang Sakahan, Inc.
Disc Contractors Builders and General Services, Inc.
Philippine Center for Economic Development
Annex 12
Discretionary
54
38
122
-
Representation/
Entertainment
Extraordinary/
Contingency/
Emergency
1,359
458
214
898
352
682
619
559
506
540
183
466
355
477
235
304
252
725
220
767
185
592
50
37
369
246
268
Page 4 of 5
101
68
110
313
687
162
192
58
94
-
Promotional/
Advertising
62
71
62
1,488
339
1,269
646
363
11
748
22
279
67
225
223
41
49
54
7
200
201
4
182
106
-
Confidential/
Intelligence
240
515
Consultancy
508
1,369
1,641
420
135
677
40
699
360
50
639
422
-
556
384
528
459
62
212
-
Total
1,929
1,898
1,804
1,770
1,657
1,621
1,438
1,430
1,301
1,294
1,249
1,161
1,055
908
892
874
825
816
779
776
774
769
729
596
509
497
475
458
268
Share in
total
expenses
2.21%
1.57%
0.22%
1.46%
0.47%
2.83%
1.78%
1.77%
1.02%
2.06%
3.71%
0.34%
0.87%
0.03%
0.36%
13.50%
0.22%
1.22%
4.54%
5.19%
1.56%
2.63%
0.14%
1.90%
1.69%
0.02%
2.00%
0.60%
1.15%
Name of GOCC
Discretionary
Annex 12
24,535
Representation/
Entertainment
Extraordinary/
Contingency/
Emergency
Promotional/
Advertising
Confidential/
Intelligence
Consultancy
223
197
175
158
10
161
100
17
54
47
36
42
41
10
17
-
93
3
67
132
16
-
7
-
10
20
27
-
6
4
2
1,085,435
140,324
3,073,327
Page 5 of 5
67
-
191,955
3,849,712
Total
223
197
175
168
161
Share in
total
expenses
0.12%
0.73%
0.66%
0.18%
0.21%
160
135
116
84
54
47
43
42
41
30
27
17
10
0.02%
0.02%
0.65%
0.51%
2.66%
0.02%
0.12%
0.59%
0.06%
0.89%
0.22%
0.13%
0.17%
6
4
2
8,365,287
0.77%
0.43%
0.09%
1.39%
Annex 13
Annual Growth of Subsidy Income from the National Government
For the year ended December 31, 2013
(in thousand pesos)
Amount
Name of Agencies
2013
Annex 13
Page 1 of 2
2012
Annual Growth
Amount
Percent
12,051,858
5,066,584
6,985,274
26,693,429
16,899,176
5,107,440
1,314,000
1,330,978
987,761
6,000,050
759,572
1,173,548
1,011,301
532,200
2,485,897
254,605
271,200
97,575
89,545
265,325
22,233,480
12,819,868
1,182,757
250,000
5,155,212
45,280
600,538
500,000
340,901
2,306,349
128,653
219,120
54,268
50,248
234,946
4,459,949
4,079,308
3,924,683
1,314,000
1,080,978
987,761
844,838
714,292
573,010
511,301
191,299
179,548
125,952
52,080
43,307
39,297
30,379
57.96%
20.06%
31.82%
331.82%
0.00%
432.39%
0.00%
16.39%
94.04%
95.42%
102.26%
56.12%
7.78%
97.90%
23.77%
79.80%
78.21%
12.93%
Amount
Name of Agencies
People's Television Network Incorporated
North Luzon Railways Corporation
Credit Information Corporation
Aurora Pacific Economic Zone and Freeport Authority
Center for International Trade Expositions and Missions, Inc.
Philippine Institute for Development Studies
Zamboanga City Special Economic Zone Authority
Cultural Center of the Philippines
Philippine Fisheries Development Authority
Philippine Center for Economic Development
Philippine Institute of Traditional and Alternative Health Care
Cottage Industry Technology Center
Bases Conversion Development Authority
Natural Resources Development Corporation
National Kidney and Transplant Institute
National Dairy Authority
Philippine Children's Medical Center
Lung Center of the Philippines
Local Water Utilities Administration
Philippine Heart Center
National Transmission Corporation
National Food Authority
Power Sector Assets and Liabilities Management Corporation
Annex 13
Page 2 of 2
2013
2012
182,741
38,914
44,725
156,114
188,118
35,000
50,000
202,000
14,500
40,000
9,000
202,865
261,744
345,000
198,728
139,230
211,832
2,145,913
8,134,690
89,926,574
152,835
11,361
28,410
140,367
179,510
31,000
49,100
201,327
(428)
14,500
40,000
9,413
15,287
16,500
264,800
337,912
445,000
333,308
338,846
622,919
864,129
8,029,829
16,545,140
79,859,269
Annual Growth
Amount
Percent
29,906
27,553
16,315
15,747
8,608
4,000
900
673
428
(413)
(15,287)
(16,500)
(61,935)
(76,168)
(100,000)
(134,580)
(199,616)
(411,087)
(864,129)
(5,883,916)
(8,410,450)
10,067,305
19.57%
242.52%
57.43%
11.22%
4.80%
12.90%
1.83%
0.33%
100.00%
0.00%
0.00%
-4.39%
-100.00%
-100.00%
-23.39%
-22.54%
-22.47%
-40.38%
-58.91%
-65.99%
-100.00%
-73.28%
-50.83%
Annex 14
Subsidy Received from Other Government Agencies
For the year ended December 31, 2013
Name of GOCC
Amount
(in thousand pesos)
16,899,176
3,410,855
105,256
100,000
68,788
50,000
44,725
30,000
9,300
2,915
1,866
Page 1 of 1
119
Annex 14
Annex 15
Top 20 GOCC Taxpayers
For the year ended December 31, 2013
(in thousand pesos)
Rank
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
Annex 15
Name of GOCC
Income
Total
2,674,033
545,943
18,426,573
6,577,724
894,118
1
21,994,724
7,123,667
761,184
730,934
4,374,235
5,866,353
1,034,502
445,461
3,944,232
5,424,195
996,362
1,472,072
1,419
188,758
1,114,990
1,365,992
1,448,960
1,199,958
2,634,080
2,587,062
2,567,369
1,662,416
9,068
1,671,484
19,844
281,289
79,554
1,059,190
810,998
145,747
527,133
507,930
176,458
351,362
58,129
98,336
577,248
384,802
25,140
562
444,101
22,017
566
309,934
185,099
114,451
1,607,069
1,444,413
1,093,752
1,059,190
811,560
589,848
549,150
508,496
486,392
351,362
329,331
259,223
1,009,977
778,322
989,058
86,103
46,436
Page 1 of 1
Taxes
Withholding
Others
Annex 16
Top 20 GOCCs with Dividend Remittances
For the year ended December 31, 2013
Rank
Name of GOCC
Amount
(in thousand pesos)
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
2,500,000
1,475,933
1,400,216
1,082,101
1,008,034
1,000,000
655,471
629,012
500,000
415,409
300,000
249,723
136,549
123,791
120,542
100,000
100,000
94,683
88,396
85,268
12,065,128
Page 1 of 1
Annex 16
Annex 17
Tabulation of Audit Opinions Rendered
U
Cluster 1 - Banking and Credit
1 Al-Amanah Islamic Investment Bank of the Philippines
2 Bangko Sentral ng Pilipinas
3 Central Bank Board of Liquidators
4 Credit Information Corporation
5 DBP Data Center, Inc.
6 DBP Leasing Corporation
7 DBP Management Corporation
8 Development Bank of the Philippines
9 Industrial Guarantee and Loan Fund
10 Land Bank Resources and Development Corporation
11 Landbank Countryside Development Foundation, Inc.
12 LBP Insurance Brokerage, Inc.
13 LBP Leasing Corporation
14 Masaganang Sakahan, Inc.
15 Northern Foods Corporation
16 People's Credit and Finance Corporation
17 Philippine Deposit Insurance Corporation
18 Philippine International Convention Center, Inc.
19 Philippine Postal Savings Bank, Inc.
Cluster 2 - Social Security Services and Housing
1 AFP Retirement and Separation Benefits System
2 Employees Compensation Commission
3 Government Service Insurance System
4 GSIS Family Bank
5 Home Development Mutual Fund
6 Home Guaranty Corporation
7 National Home Mortgage Finance Corporation
8 Occupational Safety and Health Center
9 Palacio Del Gobernador Condominium Corporation
10 Small Business Corporation
11 Social Housing Finance Corporation
12 Social Security System
13 Southern Utilities Management Services, Inc.
14 Trade and Investment Development Corporation of the
Philippines
Cluster 3 - Public Utilities
1 APO Production Unit
2 Cebu Port Authority
Annex 17
Type of Opinion
Q
A
D
x
x
x
x
x
x
x
x
x
x
x
x
x
x
x
x
x
x
x
x
x
x
x
x
x
x
x
x
x
x
x
x
x
x
x
Page 1 of 4
Type of Opinion
U
Q
A
D
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
Page 2 of 4
x
x
x
x
x
x
x
x
x
x
x
x
x
x
x
x
x
x
x
x
x
x
x
x
x
x
x
x
x
x
x
x
x
x
x
x
x
x
x
x
x
x
x
x
x
Annex 17
Type of Opinion
U
Q
A
D
29
30
31
32
33
34
35
36
37
38
39
x
x
x
x
x
x
x
x
x
x
x
x
x
x
x
x
x
x
x
x
x
x
x
x
Annex 17
Page 3 of 4
x
x
x
x
x
x
x
x
x
x
Type of Opinion
U
Q
A
D
17 Philippine Heart Center
18 Philippine Institute for Development Studies
19 Philippine Institute of Traditional and Alternative Health
Care
20 Philippine International Trading Corporation
21 PITC Pharma, Inc.
22 Philippine Retirement Authority
23 Philippine Television Network, Inc.
24 Technology Resource Center
25 Tourism Promotions Board
26 Veterans Federation of the Philippines
x
x
x
x
x
x
x
x
x
x
Legend:
U
Q
A
D
Unqualified
Qualified
Adverse
Disclaimer
Recapitulations:
U - 71
Q - 49
A - 11
D- 2
133
Page 4 of 4
Annex 17
Annex 18
Status of Implementation of Prior Year's Audit Recommendations
December 31, 2013
Name of GOCC
Total Number of
Recommendations
Fully
Implemented
Partially
Implemented
Not
Implemented
55
44
41
23
23
18
13
12
12
12
9
7
7
5
5
3
3
17
14
16
5
4
1
8
3
2
6
9
0
1
5
4
0
1
29
24
21
17
15
14
2
8
9
5
0
4
4
0
1
1
2
9
6
4
1
4
3
3
1
1
1
0
3
2
0
0
2
0
Annex 18
Page 1 of 7
Name of GOCC
Total Number of
Recommendations
Fully
Implemented
Partially
Implemented
Not
Implemented
3
1
1
0
2
1
0
0
296
97
159
40
74
59
53
46
45
39
26
23
20
20
19
14
13
11
8
470
57
47
17
20
6
26
6
7
2
11
2
8
1
2
212
13
10
28
23
34
11
26
11
7
18
1
8
5
8
4
207
4
2
8
3
5
2
6
6
7
4
2
2
51
84
57
34
17
24
17
49
7
17
18
26
0
Annex 18
Page 2 of 7
Name of GOCC
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
Total Number of
Recommendations
Fully
Implemented
Partially
Implemented
Not
Implemented
27
23
23
22
19
16
13
13
9
6
4
4
3
3
0
0
360
9
7
11
7
10
3
2
5
6
2
0
0
0
1
0
0
121
11
6
5
1
6
8
7
6
1
3
1
0
0
0
0
0
128
7
10
7
14
3
5
4
2
2
1
3
4
3
2
0
0
111
45
40
40
40
35
30
28
14
12
19
6
16
15
14
4
12
20
33
13
11
9
27
16
1
1
6
4
5
Annex 18
Page 3 of 7
Name of GOCC
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25
26
27
28
29
30
31
32
33
Total Number of
Recommendations
Fully
Implemented
Partially
Implemented
Not
Implemented
26
26
25
23
21
15
15
15
14
14
13
12
11
11
9
9
6
5
5
4
4
4
3
2
2
2
3
3
14
19
11
5
9
4
6
5
1
5
5
2
7
0
6
0
2
3
3
1
2
1
1
2
18
16
4
4
7
10
5
5
6
3
12
1
3
1
2
1
0
1
3
0
1
2
0
0
1
0
5
7
7
0
3
0
1
6
2
6
0
6
3
8
0
8
0
4
0
1
0
1
1
1
0
0
Annex 18
Page 4 of 7
Name of GOCC
34
35
36
37
38
39
Total Number of
Recommendations
Fully
Implemented
Partially
Implemented
Not
Implemented
2
1
1
1
1
0
560
0
1
1
1
0
0
219
0
0
0
0
0
0
208
2
0
0
0
1
0
133
136
77
75
69
59
51
45
41
39
36
30
18
17
9
5
4
2
18
1
3
19
14
16
22
14
24
10
14
6
9
3
0
2
0
75
16
1
15
3
2
22
5
14
16
13
8
5
4
1
0
2
43
60
71
35
42
33
1
22
1
10
3
4
3
2
4
2
0
Annex 18
Page 5 of 7
Name of GOCC
Total Number of
Recommendations
Fully
Implemented
Partially
Implemented
Not
Implemented
0
713
0
175
0
202
0
336
296
152
96
96
42
37
34
34
27
26
24
21
12
11
10
9
8
8
7
9
6
5
146
20
36
16
25
9
9
27
18
10
11
1
6
2
2
3
2
6
4
5
5
1
112
88
40
36
13
15
16
6
2
10
4
6
4
9
8
6
1
2
1
1
1
0
38
44
20
44
4
13
9
1
7
6
9
14
2
0
0
0
5
0
2
3
0
4
Annex 18
Page 6 of 7
Name of GOCC
23
24
25
26
Total Number of
Recommendations
Fully
Implemented
Partially
Implemented
Not
Implemented
4
4
4
1
983
1
1
0
0
366
1
0
0
0
382
2
3
4
1
235
3382
1190
1286
906
Grand Total
Annex 18
Page 7 of 7