Republic of the Philippines CITY GOVERNMENT OF CAGAYAN DE ORO City Hall, Cagayan de Oro City CITY OF CAGAYAN DE ORO CY 2014 FINANCIAL REPORT (with Comparative Figures for CY 2013) * Statement of Management's Responsibility Consolidated Statement of Financial Condition Consolidated Statement of Comprehensive Income Consolidated Statement of Cash Flows Consolidated Statement of Changes in Equity ‘+ Notes to Financial Statements see.chOAray, ‘@) 5 3 Republic of the Philippines Seetermsc4 CITY GOVERNMENT OF CAGAYAN DE ORO Se City Hall, Cagayan de Oro City ‘STATEMENT OF MANAGEMENT'S RESPONSIBILITY FOR THE 2014 FINANCIAL STATEMENTS The Management of the CITY GOVERNMENT OF CAGAYAN DE ORO is responsible for all information and representation contained in the Statement of Financial Condition as of December 31, 2014 and the related Statement of Comprehensive Income and Statement of Cash Flows for the period then ended. The financial statements have been prepared in conformity with the generally accepted accounting principles and reflect amounts that are based on the best estimates and informed judgment of management with an appropriate consideration of materiality. In this regard, management maintains a system of accounting and reporting which provides for the necessary intemal controls to ensure that transactions are properly authorized and recorded, assets are safeguarded against unauthorized use or disposition and liabilities recognized. vo ATTY. BEDA JOY|B. ELOT, CPA, MM City Acpountant O HON. OSCAR'S. MORENO City MayorCITY OF CAGAYAN DE ORO CONSOLIDATED STATEMENT OF FINANCIAL CONDITION {As of December 31,2018 (0h Comparative Figures for CV 2013) Tate 7a as cast 5 Cash on Hand Cashin Veult P : P : Payroll Fund 600,81.56 523,919.59 Cashin Bank- Local Corveney Cosh in Benk-Local Currency, Current Account 1,052,678,655.55 950,688,809.65 {Cashin Banca! Currency, Savings Account 245.4822 "24544822 Cashin Bank Local Cureney, Time Deposit 2U5.011,467.54 213,742.001.10 ‘Total Cash 268,536 7. 1,165,200,208.56 RECEIVABLES 6 Receivable Accounts Due from Officers and Employces 1,063.80, Real Propety Tax Receivable 453,821 56236 Special #dvcation Tax Receivable 469,868 432.27 Inter-Agency Receivables ue fom NOAS 521755992 393020782 Due fn LGUs 285,446, 78656 28708793433 Dee from NGOS/POs ‘960,018.64 166,018.64 751,626,365.12 33114.250.9 Intra-Agency Recetvables ‘Due from Other Funds (56,897,456.94 48,265,980.36 Other Receivables Reccivables DsallowancesCharges 59.89.9372 2835038.11 ‘Advances Officers and Employees 1504.98.96 159962.227.46 Other Receivables 112,161.30, nari Tots! Receivables: 1,008, 743,394.89 Inventories 7 ‘Supplies Office Supplies 698,130.72 5,180,570:56 Accountable Foms 74200011 100145655 Animal/Zoological Supplies 5,090,449.00 3,710,525.00 Food Supplies 137316845 359421785 Drugs and Medicines 170033888 11787 861.28 Medical, Dental and Laboratory Supplies. 16,626,514.19 9,228,435.66, Gasoline, Oil and Lubricants 17,541,274.06 4,791,439.96 Agricultural Supplies 3270.86940 3,241.295.00 Other Supplies 7,768,967.26 8,438,638.60 ‘Spare Parts 6,765,652.24 $1759.79 Agricultural, Fishery, and Forestry Products Livestock 5600.00 56,000.00 Cops en Fis 179210.00 17921000 Other Agricul, Fishery and Forestry Proves 720820000 7203.00 956,030.00. 956,030.00 Total Inventories 72, 365,479.93 58,715,822.70_ PREPAYMENTS eC cror erro ‘Advances to Contactors 26,015 894.67 24,808,545.36 Other Prepaid Expenses 45,250.00. 28,250.00 Total Prepayments psi rae OTHER CURRENT ASSETS 61053 6053 ‘TOTAL CURRENT ASSETS 2,598,681,357.69 2,257,529,862.04 ‘See Accompanying Motes 0 Financ StatementsCITY OF CAGAYAN DE ORO ‘CONSOLIDATED STATEMENT OF FINANCIAL CONDITION ‘As of December 31, 2014 (With Comparative Figures for CY 2013) Nowe 2014 2013 PROPERTY, PLANT AND EQUIPMENT. 9 cost Land and land improvements Land 782,156021.37 1656,940,922.94 Land Improvements 416,447,938.74 416,447,938.14 Electrification, Power and Energy Structures 4,151,460.15, 4,151,460.75 1-202,755,42086 077 540,322.43 389.447,615.09 37242021.27 71,128,870.55, 7,128,870: Hospitals and Heath Centers 22,411,655.74 22,411,655.74 Markets and Slaughterbouses 717,516,560.05 717,516,560.05 Other Structures 254,878.786.36, 33:309,155.74 461 383,487.79 (227, 613,263.35 Office Equipment, Farwiture and Fixtures Office Equipment 38,390, 738.67 31,110,703.57 Furniture and Fixtures 6,821,452.47 5,331,552.72 Equipment and Software 41 929,328.99 25,616,331.19 Library Books 37,594,334.33, 37,594,334.33 124,735,854.46 99,652,921 81 ‘Machineries and Equipment Machineries 1,086,700.00 1,086,700.00 ‘Coomunicetion Equipment 5,180,874.17 $,180,874.17 ‘Construction and Heavy Equipment 186,081,988.02 186,061,078.02 Firefighting Equipment and Accessories 1,565,622.00 1,565,622.00 Hospital Equipment 35971,721.76 1874435035 Medical, Dental and Laboratory Equipment 921,000.00 482,080.00 Military and Police Equipment 2,144,462.90 2,144,462.90 Spoets Equipment 36,000.00 36,000.00 ‘Technical end Scientific Equipment 38,171,842.59 38,122,658.59 Other Machineries and Equipment 11,778,713.56 1778.71. 938,925.00 265,202,459.59 ‘Transportation Eqaipment Motor vehicles 96,517,237.90 99,506,396.74 Watererafis 1,083,296.57 1,083,296.57 Other transportation equipment 282,874.33 28287433 97-883,408.90 D172, 567.64 Other Property Plant and Equipment 35,622,622.16 34997,581.16 Public Infrastructures Roads, Highways and Bridges - 3085,304,797.49 Artesian Wells, Reservoirs, Pumping Stations and Conduits - 1,899,960.83 Irrigation, Canals, and Latrals - 14,378.287.05 Flood Contos 7 2,654,113.74 Waterways, Aqueducts, Seawalls, Riverwalls and Others! : 5,€40,274.63 Other Public Infastuctres : 16,951,787.03 a 346,772,220.77 Construction in progress See ‘Agency Assets 299,209,895.91 163,076,564.14 Roads, Highways and Bridges 711,735,51848 (697,282,878.07 Parks, Plazas and Monuments 12,286,088.78 930,768.27 ons, Lighthouses and Harbors 190,999.16 190,999.16 ‘Anesian Wells, Reservoirs, Pumping Stations and Conduits $,774913.64 3,970,649.98 Irrigation, Canals and Lateral 17,469,881.60 17,469,881.60 Fleod Controls 6.006,568.89 6,006,568.89 Waterways, Aqueduct, Sea Walls, River Walls and Others 14992,731.37 14,952,731.37 See dcronpanying Motes to Financial StenenteCITY OF CAGAYAN DE ORO ‘CONSOLIDATED STATEMENT OF FINANCIAL CONDITION ‘As of December 31, 2014 (With Comparative Figures for CY 2013) ote 2014 2013 Other Public Inrastuctures TOTAL COST ACCUMULATED DEPRECIATION Land and land improvements Electrification, Power and Energy Structures 109,832.45 89,479.95, Buildings Office Buildings 15,752,088.49 8,102,630.40 ‘School Buildings - - Hospitals and Health Centers : - Markets and Slaughterhouses 53,723,262.84 42,413,102.24 Other Structures 3,252,539.45 3,252,539.45, 72,727,990.78 '53,768,272.09 Office Equipment Office Equipment 3,255,426.94 2,713,04738 Fumiture and Fixtures 1,624,033.81 1,409,797.04 IT Equipment and Software 9,269,382.41 8,492,103.71 Library Books 5,208,459.48 351,302.64 Machineries and Equipment Machineries 159,437.13 72,187.50 Communication Equipment 2,369,693.62, 2,333,398.29 Construction and Heavy Equipment 52,155,558.00, 40,167,221.40 Firefighting Equipment and Accessories. “408,061.89. 382,354.80 Hospital Equipment 15,291,030.00 13,652,267 Medical, Destal und Laboratory Equipment 107,223.75, 9,450.00 filitary and Police Equipment 1,177,601.15, 1,035,840.67 Sports Equipment = Techical and Scientific Equipment 230,205.99 157,871.26 ‘Other Machinerics and Equipment 367,052.88 246,081.35. 72,265,864.41 58,056,674. ‘Transportation Equipment eee Motor vehicles 20,717, 155.14 19,160,408,03 Watererafts 258,000.00 186,000.00 Other transportation equipment 25,458.69 25,458.69 721,000,613.85 T9371 366.72 Other Property Plant and Equipment 3,672 950.72 TOTAL ACCUMULATED DEPRECIATION 186,533,754. NETBOOK VALUE 4,103,341.974.93 Other Assets 10 ‘Work/Other Animals 2,704,765.00 Breeding Stocks 28,660.00 Other Assets 13.062,860.08, Total Other Assets 15,796,285.08 TOTAL NONCURRENT ASSETS 119 138,260.01 XOTAL ASSETS 6,714,819,617,70_P ‘See Accompanying Notes to Frarca StatementsCITY OF CAGAYAN DE ORO As of December 31, 201 (QWitb Comparative Figures for CY 2013) CONSOLIDATED STATEMENT OF FINANCIAL CONDITION See Accompanying Note to Kran Statements Nose 2014 3013 LIABILITIES AND GOVERNMENT'S EQUITY LIABILITIES ‘Current Lisbiiies " Payable Accounts ‘Accounts Payable 276,716,455.65 196,244,10490 Due to officers ane employees 22,070.010.28 16,873.101.39 298, 786.465.93 7,206.29, Interagency Payables Dee to BIR 9,708,357.34 9,301,925.26 Due to GSIS 10,750,003.83 10,167,827.50 Due w Feg-IBIG 2929.46.71 2,805,958.31 Due i Pilhealth 2.254216.19 992,839.12 Duc to Other NGA 82,482,575.22 108,954,366.29 Due to Other GOCCs 282.72 282.72 Due 10 LGUs 104 $81,650.66 123,030,342.19 212,706,547.67, 255,262,541.39 Intra Agency Payables Due toother funds 42,792,320.03, 53,557,184.45 Otber Lisbilities Account Performance/Bidders/Bail Bonds Payable 5,070,82.96 4,847,399.68 et Risk Reduction and Menegement 42,009,179.48 21,996.291.66 Other Payables 161,787,085.80 7208,867,087.14 Lown Payable, Domestic n 152.4142 ‘Total Current Liabilities 915,566,624.65 LONG TERM LIABILITIES Loan Payable, Domestic R 494,931,022.22 647345,266.10 Deferred Credits B Deferred Real Property Tax Income 629,913,849.68 327,979,163.78 Deferred Specie! Education Tax Income - 141,888,204.68, (Other Deferred Credits 3,432,426.99 3.432.426 (633,346,276.67 473,299, 79545 Total Noncurrent Liabilities 1,128,277,298.89 7120,645,061 ‘TOTAL LIABILITIES 2,043 843,923.54 1972268,155, RQUITY 4 Goverment Equity, be 4206204,598.45 3.739,819,089.88 ‘Ada. Retained Earning Surplus Current Operations 680,222,695.92 518610,991.91 Prior Years Adjustments (25,042,204.98), 43,889,533, 1655,180,490.94 '362,500,525.57 Less ‘Transfer to Registry (13,224,785.08) : Transeo Trust Fund-DRMM_ 7358849717 18,533,541.91 ‘Transfer of PPE to Barangays 7 3,895,000.00 ‘Transfer of PPE from Completed Projects 130.075,683.14 “Transfer of Properties fron Other Sources - (60,743,575.01 Other Agjusients - 12,942,900.08 190,409,39523 TOTAL EQUITY £670978,694.16 TOTAL LIABILITIES AND EQUITY 6,714819617.70| CITY OF CAGAYAN DE ORO CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME For the Year Ended December 31,2014 | L L L Comparative Figures for CY 2013) Toe 7014 zg TAX REVENUE 5 Local Taxes "Amusement Tax P 1,308.56 FP 11,70323028 ‘Business Tax. 695,230,355.81 484,018,415.50 ‘Community Tax 23,865,964.73 18,526,176,72 3616737143 40,117958.82 Oocupation Tax 93874,899.40 832,674.50 Printing and Publication Tax 16,460.00 : Property Transfer Tax 28,052,424.65 30,258,772,50 Real Property Tax 196,654820.50 221,407.431.83 Less: Discount on Real Property Tax. (8,503,775.57) (11,251,168.79) Tax on Delivery Trucks and Vans 1,273,967.50 1,446,704.24 Special Eveation Tax 159;768321.75 17731339060 Less: Discount on Special Education Tx (7.032.343.76) (8,136286.55) “Taxon Sand, Gravel and other quarry products 3,053,987.93 225783551 Fines and Penalties-Local taxes 15206,660.10 13,304,266.36 is 52,15665° 999,799,408 GENERAL INCOME ACCOUNTS Internal Revenue Allotment 979,456,001.00 871,745,848.00 Permits and Licenses Tees on Weights and Measures 1.299,755.00 706,698.18 Motor Vehicles Users Charge 1,316,200.00 1,306,340.00 Permit Fes, 291408859.65, 241155563.50 Registration Fees 3,030,849,00 3,999,948,00 Other Permits and licenses 656,845.00 118,807.32 70.6 9873800 Service income ‘Clearance and Certification Fees 21,085,640.54 18,477,247.44 Garbage Fees 28,107,282.64 13,75$,908,33 Ingpection Fees 26.263,91789 16,360,599.73 Library Fees 120.00 30.00 ‘Toll and Terminal Fees 7,240,199.00 8,985,042.40 Other Service income 1908.73.54 741,29830 Fines and Pealies-Service Income 466,550.00 34141,563.00 .792,463.6 | 61,461 ,689.20 Business Tacome Sra Hospital Fees 41,723,091.10 1447816348 Income from Cemetery Operations: 68,260.00 62,818.26 Income from Markets 51,196,429.50 47,920,710.78 Income from Slaugtherhouses. 875,400.64 497,396.25 Rent income 613911.50 638767261 Sales Revenue 2,240.00 1,140.64 Other business income 3,003,380.64 2,288,292.94 Toase7338 7183619496. Other Income Interest Income. 1,673,913.14 1,701,707.12, Share fom Eecnomie Zones 26.390,618.74 6342780621 Share fom EVAT 364,014.00 i Share fom PAGCORPCSO 7158,995:99 3,807,780.19 Miscellaneous Income 31/654478.48 14666,051.33 Other Fines and Penalties 1 795.77037 : 717,790.68 ro ‘Total General Income 1,275,061 472.36 1,118,434,430.01 ‘TOTAL OPERATING INCOME 2,441 ,403,628.99 2, 108,233 ,834.53_ EXPENSES 16 ‘See Accompanying Notes to Financial StatementsCITY OF CAGAYAN DE ORO CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME For the Year Ended December 31, 2014 (With Comparative Figures for CY 2013) Note 7a mi PERSONAL SERVICES Salaries and Wages Regular 503,931,047.78 s10,872918.79 ‘Casual 49,878,836.19 40,043,912.94 sszupsasse 950,615928.75° ther Compensation PERA 66,63,609.70 65,571,831 RA 6,748,005.26 6,308.1 84.78 TA 6.478 705.48 72389,684 80 Clothin/Uniform Allowance 13,224,400.00 14095,500.00 ‘Subsistence, Laundry and Quarter Allowance 5,267,097.34 $,249,368.65, Productivity Incentive Allowance 4994.208:50 660,558.00 Other bonuses and allowances 21,385 84.56 903438440 ‘Honoraria 8,949,615.95 5,969,407.88 Hazard Pay 6,209,899.20 6,289,191.75 Overtime and night pay £37021402 10,600,246.68 Cash gift 13,907,000.00 13,596,000.00 Year end bonus 47,988, 120.03. 46,353,304.76_ 210,206 ,550.04 207,057,563. Personne! Benefits Contribution PPE eee Life and retirement Insurance Contributions 70,122,694.25 69,174,657.72 Pagibig Contributions 11318,053.35 11.052.212.32 Philelth Contributions 748482765 6:381,931.04 EOC Contribs 128,773.30 132,919.74 Retirement Benefits-Civitian 1,026,630.09 - ‘Terminal Leave Benefits 23:731,004.90 28,350,559.70 Other personnel benefits 66,766,346.67_ 43,A42,838.43 180,578,330.21 158,535,118.95 Total Personal Services 94449476423 91620861128 MAINTENANCE AND OTHER OPERATING EXPENSES ‘Travelling Expenses 4,221,403.04 2,335,840.93 Travelling Expenses-Local ‘Teaning and Scholarship Expenses ‘Training Expenses 10,070,179.53, 6,575,394.00 ‘Scholarship Expenses 30,646,625.56 27,274,324.76 ‘Supplies and Materials Expenses ‘Office Supplies Expenses 1978.12.02 12,302,446.52 ‘Accountable Farms Expenses 3,696,107. 21104278357 ‘AnimaZoologicl Supplies Expenses 704589000 "1930.00 Food Supplies Expenses 5,763,617.40 3,186,344.00, Drugs and Medicines Expenses 18,991,690.10 2748431431 “Medical, Dental and Laboratory Supplies Expenses 4374921.98 12,151 762.71 Gasoline, Oil and Lubricants Expense 36,341,638.21 33,806,839.76 Agricultural Supplies Expenses 551,207.60 147,137.50 Textbooks and instructional 380311.73 $000.00 Other supplies expense 26,768,021 38 27,536,117.29 ily Expenses ‘Water Expenses 12,110,38404 15,533,470.35 Electricity Expenses 113,075,418.51 95,273,374,09 Miscellaneous expense 1229,486'53 2138700 Communication Expenses Postage and Deliveries - 35,000.00 ‘See Accompanying Notes to Financial StatementsCITY OF CAGAYAN DE ORO CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME For the Year Ended December 3 (With Comparative Figures for CY 2013) 4 Note 2014 2013 ‘Telephone Expenses-Landiine 1,273,292.1 1,375,913.75 ‘Telephone Expenses-Mobile 1,769,549.26 1,486,310.85 Intemet Expenses 262,321.17 178,149.90 Cable, Satellite, Telegraph and Radio Expenses 10,058.69 15,174.05 ‘Membership Dues and Contributions to Organizations 200,000.00 2,350,406.00 Awards and Indernities 184,000.00 817,730.80 ‘Advertising Expense 261,435.80 - Printing and Binding Expenses 61,057.30 38,800.00 Rent Expenses. 538,384.00 2,436,811.00 Subscription Expenses 218,303.00 516,929.10 Rewards and Other Claims 172,700.00 - Professional Services Legal Services 30,000.00 : Consultancy Services 4,574,900.00 046,000.00 EnvironmentSanitary Services 49,460,000.00 47,857,517.40 General Services 56,264,046.40 33,075,904.31 Security Services 175,870.44 31,194.92, Repairs and maintenance Land Improvements Electrification, Power and Energy Structures 7,618.00 Buildings Office Buildings 5,085,981.21 4,662,859.28 Markets and Slaughterhouses - 149,767.20 Other structures 1,554,678.09 517,041.58 Office equipment, furnitures and fixtures Office Equipment 610,419.40 2,221,874.62 Fomitures and Fixtures 8211.00 51,000.00 ‘Machineries and equipment ‘Medical, Dental and Laboratory Equipment - 1,964.36 Repairs and Maintenance - Hospital Equipment 621,630.00 - Furnitures and Fixtures - 7,500.00 Transportation equipment ‘Motor vehicles 14,708,551. 10,803,311.23, Confidential, Intelligence, Extraordinary and Extraordinary expenses 3,545,702.50 2,101,556.76 ‘Taxes, Insurance Premiums and Other fees ‘Taxes, Duties and Licenses 4,753,257.00 i Fidelity Bond Premiums 329,100.50, 346,838.25 Insurance Expenses 9,819,943.92 8,233,261.27 Land Improvements Electrification, Power and Energy Structures 20,352.50 20,352.52 Buildings : : Office Buildings 7,649,458.09 7,649,458.08 ‘Markets and Slaughterhouses 11,310,160.60 11,310,160.60 (Office equipment, furnitures and fixtures Office Equipment 542,379.36 417,553.39 ‘Fumitures and Fixtures 214,236.77 228,210.81 ‘See Accompanying Notes to Financial StatementsCITY OF CAGAYAN DE ORO CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME For the Year Ended December 31, 2014 (With Comparntive Figures for CY 2013) 218 2013 IT equipment 797,278.70 678,950.85, Library books 8,218.80 20,708.90 Machineries and equipment Machineries 87,249.63 72,187.50 ‘Communication Equipment 36,294.33, 72,245.73 Construction and Heavy Equipment 11,988,336.60 11,988 336.60 Firefighting Equipment and accesories 25,707.09, 35,347.25 ‘Hospital equipment 1,674,697.50 1,631,280.00 Medical, Dental and Laboratory Supplies Expenses 97,773.18 9,450.00 Military and Police Equipment 141,760.48. 193,039.01 ‘Technical and scientific equipment 36,399.28 45,349.00 Other machineries and equipment 120971.53, 90,439.85, ‘Transportation equipment Motor vehicles 1,556,747.11 2341.27.77 ‘Watercrafts 72,000.00 72,000.00, Other Property Plant and Equipment Electrification, Power and Energy Structures 21,895.83 126,395.42 Other Maintenance and Operating Expenses ‘Other Maintenance and Operating Expenses 262,730,026.35 154,544,890.95 Total Maintenance and Operating Expenses 749,437,961.27 '581,956,995.66 1,693,932,725.50 INCOME FROM OPERATIONS 747,470,903.49, Financial Expenses Bank Charges 34,050.00 298,292.66 Documentary Stamps Expenses 905,730.00 16,861.00 Interest Expenses 43,008,650.64 6,769011.32 ‘Total Financial Expenses 43,945 430.64 67.084,164.98 INCOME BEFORE SUBSIDIES, DONATIONS, AND 703,522,472.85 $42,986 062.61 EXTRAORDINARY GAINS SUBSIDIES AND DONATIONS Subsidy to National Government Agencies 18,189,670.13 6,750,000.00 Subsidy 40 Local Government Ur $,031,537.87 16,605,457.40 Subsidy to NGOs/Pos 78,568.93. 1,017,613.30 Subsidy to Other Funds : : Donations : : __Tota FITTED TAFT 70.70 NET INCOME $80,222,695.92. 518,610,991.91 ‘See Accompanying Notes to Financial StatementsCAGAYAN DE ORO CITY (CONSOLIDATED DETAILED STATEMENT OF CASH FLOWS For the year ended December 31,2014 (With Comparative Figures for C¥ 2013) Nowe 2014 2013 Cash Flows from Operating Activities ‘Cash Tatows Collection fom Taxpayers Pe 117002043648 1,007324273.39 Share from intemal Revenue Coletions '999,456,001.00 '871,745,848.00 Recips from sale of goods und services 256:909,334.37 173.551,394.96 Innere Income 167391314 1701,707.12 Other Reocins 323,487,841.34 312347174600 ‘Total Cash Talows 2731547 526.39 I66,794.909.47 Cash Outtions Paymeats to supplies and creditors 621,600,597 508,358,957.68 Payments to employees 998 236,748.56 985.732,158.34 Imerest Expense 45,008,650.64 66,769,011.32 ther Expenses 488,749,764.19 700,549.230.4 ‘Total Cash Outfiows (61 595.756.66 2231 409,387.8 [Net Cash Flow from Operating Activities ‘569,951,769. 13S 385,611.79 ‘Cash Flows from Financing Activites Cash Outtow Purchase of opens and Equipment (911,294,488.75) (102,959,413.37) ‘Cash Fiows from lavesting Activities Cash Tallow ‘Acquisition of Loan 3,069.033.54 Cash Onttow Payment of Loan Amortization 08532147660 120,530 488.20 Net Cash Flow from Investing Activities (55321 476) (07, 461,424.66) Net Increase in Cash and cash equivalents (03.335 804.31 (85,035,226.24) ‘Cash and Cash Equivalents, Beg 1,165,200 208 56 1,250235,434.90 {Cash aod Cash Egulyatenes, Bud 1 12.87 5, 300,208.56CAGAYAN DE ORO CITY ‘CONSOLIDATED DETAILED STATEMENT OF CHANGES IN GOVERNMENT EQUITY 2014 (Wah Comparative Figures for C¥ 2013) 2018 2013 Government Faulty, Begianiog r 420620409845 F 3.738,19,090.00 Retained Opersting Serplas ‘Carreat Operstons 600220592 sigs10 99191 Prior Year's Adjustments Compensation & Allonancey/Diallowances (4.046276.16) 3817482.00) Feerand Lisemes (1568.12) (6,068.48473) (2.230753.00) (20,695.66) Financial Assistance ORME (4,805 000.00) Disallowance for Clothing Allowance (6,936 000.00) Saplies (2309522) Consuitaney (40,000.00) PE (488,353.55, Unreonded Expense (602,883.00) ‘Unrecored Clothing Allowance (268,000.00) Unrecorded Honora 211,400.00) Unrecozded Interest Expense om Loans ‘Unrecotded Adon Allovance ‘Adjusment on ency made fr Payroll iguiaton Sale Chocks ‘Unroorded interes Income and Withholding Tees Conant Tax .@287500.00) Cath Advance Restoration 102,655070.00| Compensation Representation (590000) Meal Allowance cisaest.85) Tel Gss2977 Subeistonce (9464738) Loan (02,800.00) Reps and Maintenance Inert income land Cash Advance 134,000.00 2.793801.00) Barangay Aid (98695832) Municipal Waste (1,000,600.00) Prioe Payments Adjsinent (26468 924.00) oan Adjosrent 2680 15.00 Omer Adjustments 1081 975 09 149609.00 043 B89 554.00 6, 100-490-954 362,500,2591 as “Transeo Registry 43,234,785 08) Hl “raster to Trust Fid-DRMM 73588497.17 ias33sar91 ‘Transfer of Propet fon Other Sources - 60743,575.01 “Tranafer of PME from Completed Projects 130,075603.14 ‘ Tranter of PE Barneys : £4395,000.00 Other Agusimens 1294290008 Pees gro “TOTAL GOVERNMENTS 4o7097559416 PNOTES TO CONSOLIDATED FINANCIAL STATEMENTS (With Comparative Figures for 2013) NOTE 1 AGENCY PROFILE. 1.1 Creation During the Spanish era, Cagayan de Misamis, now Cagayan de Oro City, was the permanent capital of Segundo Distrito de Misamis. In 1883, it became the seat of the Spanish Goverment in Mindanao for the provinces of Misamis Oriental, Misamis Occidental, Bukidnon and Lanao del Norte, Cagayan de Misamis joined the government of Emilio Aguinaldo in 1899 and for the first time raised the new Philippine flag on the Mindanao island, By virtue of the 1898 Treaty of Paris, Spain ceded the Philippines to the United States and resulted to the Philippine-American war. ‘The Americans occupied the town of Cagayan de Misamis on March 31, 1900 and on April 7, 1900 the Filipino resistance fighters led by General Nicolas Capistrano fought the “Battle of Cagayan de Misamis". On one hand, the Americans were initially and successfully repulsed by the Kagay-anons forces led by Mayor Don Apolinar Velez at the historic Battle of Makahambus on June 4, 1900, Eventually, the Americans won the war and around forty years later, gave the Philippines its independence on July 4, 1946. Created by virtue of Republic Act No. 521 dated June 15, 1950 which granted the status of a chartered city during the time of President ElpidioQuirino made possible through the efforts of then Cagayan de Oro Congressman Emmanuel Pelaez. Cagayan de Oro was declared a highly urbanized city by the Ministry of Local Government on November 22, 1983. Cagayan de Oro has a total land area of 488.86 square kilometers representing 13.9 percent of Misamis Oriental. Located along the central coast of Northern Mindanao region, the city is categorized according to geographic factors as first (1*) district (west area) consisting of 24 barangays mostly suburbans, and second (2™) district (east area) consisting of 17 barangays, including city proper barangays from 1 to 40. The City Government of Cagayan de Oro is now under the leadership of first term Mayor, Honorable Oscar $, Moreno. The 8-Point Agenda for Cagayan de Oro City, best identified as PRIMEHAT, will be the blueprint by which the change that will be introduced in CDO City wil be realized by the Moreno Administration, namely: Poverty alleviation and peace and order; Revenue generation; Infrastructure and Investments; Metropolization; Education and environment protection; Health and hospital services; Agricultural productivity; and, Teamwork and Tourism. In 2014, the City Government was able to build more than 200 classrooms and gave new sites to annex high schools through the Special Education Fund. It was able to upgrade and improve more than 50 of Barangay Health Centers and had them accredited with Philhealth under the latter’s Maternal Care Program. JR Borja General Hospital (IRBGH) also had a vast improvement in health service delivery. In August 2014, Cagayan de Oro City was awarded the 2“Most Competitive City in the Philippines by the National Competitive Council and United States Agency for International Development (USAid). And in October 2014, the City was awarded the Most Liveable City Design. Notes to Financial Statements Page 1 of 251.2 Ageney Vision “Cagayan de Oro is the strategic and prime development hub in the South”, to which it will endure to achieve through its commitment to best serve all Stakeholders through: the empowerment of the citizenry; humane, efficient and transparent participatory governance; the delivery of services that respond to stakeholder’s’ needs; compassionate adherence to the rule of law; and, the transformation of CDO City as the prime city of convergence of the South. 1.3 Fund Composition The City Government of Cagayan de Oro maintains the following funds: 1. General Fund 2. Special Education Fund 3. Trust Fund Pursuant to Section 308 of the Local Government Code (RA 7160), every local government unit shall maintain a General Fund which shall be used to account for such monies and resources as may be received by and disbursed from the local treasury. The General Fund shall consist of monies and resources of the local government which are for the payment expenditures, obligations ‘or purposes not specifically declared by laws of accruing and chargeable to, or payable from any other fund. Special Accounts under the General Fund include 20% Development Fund, Hospital, Markets and Terminals. The 20% Development Fund represents the 20% share of the Intemal Revenue Allotment set aside for the development projects of the City. As provided in RA $447and RA 7160, the Special Education Fund comprises the proceeds from the annual additional tax on real property of one per centum of the assessed value of real property in addition to the real property tax regularly levied thereon under existing laws. The fund aims to provide financial support to the programs of education through the Local School Boards provided, however, that the proceeds shall be allocated for the operation and maintenance of public schools, construction and repairs of school buildings, facilities and equipment, educational research, purchase of books and periodicals, sports development as determined and approved by the Local School Board, Trust Fund comprises funds which have come officially into the possession of the City as trustee, agent, or administrator for the accomplishment of a specific purpose. NOTE 2 BASIS OF PREPARATION AND STATEMENT OF COMPLIANCE ‘The City Government of Cagayan de Oro Financial Statements are prepared in accordance with the New Government Accounting System (NGAS) and all applicable accounting and auditing rules promulgated by the Commission on Audit (COA). The NGAS adopts the one fund concept. Separate fund accounting shall be done only when required by law or by a donor agency or when otherwise necessitated by circumstances subject to prior approval of COA. As required under Sections 308, 309 and 310 of the Local Government Code, separate books shall be maintained for the General Fund, Special Education Fund and Trust Fund. Notes to Financial Statements Page 2 of 25Separate registries are maintained in the City Government to control the appropriations, allotments and obligations for each of the four classes of expenditures — Personal Services, Maintenance and Other Operating Expenses (MOOE), Capital Outlay and Financial Expenses. Pursuant to COA Circular No. 2012-002, Account Titles and Codes in the Financial Statements are in conformity with the New Chart of Account prescribed under the Revised New Goverament Accounting System Chart of Accounts in the Local Government Units. The financial statements have been prepared and valued in Philippine peso. NOTE 3 SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES 1, CASH AND CASH EQUIVALENTS Cash and Cash Equivalents were valued at face value. 2. RECEIVABLES Receivables were valued at face value without provisions for doubtful accounts. Modified accrual method of accounting is used for real property taxes. At the beginning of the year, Real Property Tax Receivable and Special Education Fund Receivable were established. “This is in view of the need to record in the books not mere income estimates from real property taxes but actual receivables from said taxes. However, to avoid appropriating uncollected revenues which might result in huge cash overdraft, the same was credited to Deferred Real Property Tax Income/Deferred Special Education Tax Income. Real Property Tax Income/Special Education Tax Income were recognized upon receipt of collection, 3. INVENTORIES Purchase of supplies and materials for stock, regardless of whether or not they are consumed within the accounting period were recorded as inventory following the perpetual inventory method. 4. PROPERTY, PLANT AND EQUIPMENT Accounts classified as Property, Plant and Equipment except, Land, were carried at cost less accumulated depreciation. Land was stated at historical cost. The initial cost of property and equipment consisted of purchase price, including taxes and any directly attributable cost of bringing the asset to its working condition and location for its intended use. Expenditures incurred after the property and equipment have been put into operation, such as repairs and maintenance, were normally charged to expense in the period in which the cost was incurted. Major repairs that increase future economic benefits expected to be obiained from the use of item of property beyond its originally assessed standard performance were capitalized as additional cost of property, plant and equipment. In accordance to COA Circular No, 97-003 and 97-005, Information Technology Equipment, and Furniture, Fixtures, Equipment, Work Animals and Books respectively, costing P 10, 000.00 and above per set were capitalized and classified as fixed assets. Meanwhile those items costing less than P10, 000.00 were classified as inventories. Construction-in-progress was stated at cost. Construction-in-Progress was not depreciated until such time as the relevant assets are completed and put into operational use. All expenses incurred after completion were then charged to operation. ‘Notes to Financial Statements Page 3 of 25,Public Infrastructures were assets for use of the general public, such as roads, bridges, waterways, railways, plazas monuments and etc. A Registry of Public Infrastructures (RPD) shall be maintained according to classification to record all infrastructures for use general public. The following are the Registries to be maintained, classified by category of property, plant and equipment: b. Registry of Public infrastructures ~ Roads c. Registry of Public infrastructures — Plazas, Monuments, ete, During construction, these infrastructures were recorded in the books under the account of “Construction in Progress”. Upon completion, the completed assets were transferred to the account “Public Infrastructure”. At the end of the year, these completed assets were closed to Government Equity and were transferred to the respective registries. The cost of public infrastructures such as roads, bridges and othe Public use were not carried in the books of accounts. infrastructures for general 5. LIABILITIES Liabilitieswere recognized at the time goods and services were accepted or rendered and supplier/creditor bills and received. Borrowings were proceeds of repayable obligations, generally with interest from bank, national agency, another local government unit, and private sector. All borrowings incurred were recorded directly under the appropriate liability accounts. 6. Income is recognized in the books as follows: c Accrual method for the share in the Interna, Revenue Allotment (IRA); 1 Modified accrual for Real Property Taxes; 3 Cash basis for all other taxes, fees, charges and other revenues. 7. Expenses were recognized in the Statement of Income and Expenses under the accrual basis of accounting. 8. Financial Expenses such as bank charges, interest expenses, commitment fees and other related expenses were separately classified from MOOE. 9. Straight-line depreciation method was followed for all depreciable assets of the City. Depreciation is computed on the month following the purchase date. ‘The table below will show the estimated life of assets used in depreciating assets. ASSETS ESTIMATED LIFE TT Equipment 5 years Transportation Equipment 5-10 years Communication Equipment 10 years Structures and Improvements 30 years Notes to Financial Statements Page 4 of 25OTE 4 CORRECTIO! )F FUNDAMENTAL ERRORS: Fundamental errors of prior years are corrected using the Prior Year’s Adjustment Account while errors affecting the current year’s operation are effected to the current year accounts. NOTE 5 CASH AND CASH EQUIVALENTS. ‘The Cash and Cash Equivalents comprised of the following: GENERAL FUND 2014 2013 Cash on Hand P 597,841.56 P 223,095.46 Cash in Bank, Local Currency, Current Account 816,730,497.12 572,377,550.70 Cash in Bank, Local Currency, Time Deposit 185,738,329.37 185,733,634.70 Subtotal _ 1,003,066,668.05 758,334,280.86 SPECIAL EDUCATION FUND Cash on Hand 2,600.00 272,666.43 Cash in Bank, Local Currency, Current Account 70,254,137.17 237,294,353.44 Cash in Bank, Local Currency, Time Deposit 23,150,282.82 23,150,282.82 Subtotal 93,407,019.99 260,717,302.69 TRUST FUND Cash on Hand - 28,187.70 Cash in Bank, Local Currency, Current Account 165,694,021.26 141,016,905.51 Cash in Bank, Savings 245,448.22 245,448.22 Cash in Bank, Local Currency, Time Deposit 6,122,855.35 4,858,083.58 Subtotal 172,062,324.83 146,148,625.01 TOTAL CASH AND CASH EQUIVALENT P _1,268,536,012.87_ P _1,165,200,208.56 a. The Cash on Hand under General Fund and Special Education Fund consisted of payroll fund which are drawn by the disbursing officers to defray salaries and wages of the City Government Employees, These funds were liquidated on January 2015. b. The Cash in Bank-Local Currency, Current Account comprised the following: ACCOUNT NO. AMOUNT GENERAL FUND Philippine Veterans Bank (PVB) 02301-000-280-9 P —_45,840,173.60 Development Bank of the Philippines (DBP) 900-01007-810.5 235,486,796.37 ine Amanah Bank (PAB) 002-00-00835-3 '58,539,583.60 Philippine Postal Savings Bank (PPSB) #2381 0008-002381-021 83,832,827.51 Philippine Postal Savings Bank (PPSB) # 3058 0008-003058-021 772,504.04 Land Bank of the Philippines (LBP) #45 0152-0010-45 15,077,266. Land Bank of the Philippines (LBP) #13 2412-1015-13 315,979,378, Land Bank of the Philippines (LBP) #14 0152-0460-14 28,859,656.17 Land Bank of the Philippines (LBP) #25 2412-1047-25 17,737,087.10 ‘Notes to Financial Statements Page § of 28Land Bank of the Philippines (LBP) #56 Land Bank of the Philippines (LBP) #26 SPECIAL EDUCATION FUND Development Bank of the Philippines (DBP) Philippine Postal Savings Bank (PPSB) TRUST FUND Development Bank of the Philippines (DBP) Philippine National Bank Land Bank of the Philippines (LBP) #74 Land Bank of the Philippines (LBP) #17 Land Bank of the Philippines (LBP) #28 Philippine National Bank #103 Land Bank of the Philippines (LBP) #47 Land Bank of the Philippines (LBP) #21 Land Bank of the Philippines (LBP) #02 Land Bank of the Philippines (LBP) #31 TOTAL 3532-0001-56 2412-1038-26 00-0-01008-810-1 0008-002330-021 0-00240-810-8 345-8600065 0152-0049-74 0152-0475-17 2412-1051-28 103 02412-1045-47 02412-1062-21 02412-1063-02 70,2541: AMOUNT 10,379,680.33 4,225,54 816,730, 58,843,156.14 11,410,981.03 £89,666,477.96 ‘402,893.76 68,274,877.97 2,563,471.87 947,631.06 445,031.83 330.00 2,310.00 738,203.31 2,652,793.50 165,694,021.26 1,052,678,655.55 Reconciliation of the Cash in Bank, Current Account against our depository banks’ balances reflects prior years reconciling items amounting to P28, 623,674.10 as a deduction in the book balance, Validation of most of these reconciling items remained futile since documents were largely damaged during Typhoon Sendong. . The Cash in Bank-Local Currency, Time Deposit is composed of fixed term deposits with the following financial institutions. GENERAL FUND Development Bank of the Philippines Land Bank of the Philippines — Carmen Land Bank of the Philippines - Capistrano Land Bank of the Philippines - Velez Philippine National Bank Philippine Postal Savings Bank Philippine Veterans Bank SPECIAL EDUCATION FUND Development Bank of the Philippines Philippine Postal Savings Bank Philippine Veterans Bank TRUST FUND Development Bank of the Philippines ‘Notes to Financial Statements. AMOUNT 2,430.41 1,500,000.00 147,351,554.09 2,748,030.26 16,483,333.34 17,652,981.27 18,329.37, 8,150,282.82 5,000,000.00 10,000,000.00 —33,150.282.82° 1,994,442.25 Page 6 of 25Land Bank of the Philippines Philippine National Bank Philippine Veterans Bank TOTAL AMOUNT 2,824,347.58 674,245.55 629,819.97 6,122,855.35 P ___215,011,467.54 NOTE 6 RECEIVABLES This account consists of the following: GENERAL FUND Due from Officers and Employees Real Property Tax Receivable Due from NGAs Due from LGUs Due from Other Funds Receivables-Disallowance/Charges Advances to Officers and Employees Other Receivables SPECIAL EDUCATION FUND Special Education Tax Receivable Due from NGAs Due from LGUs Due from NGOs/Pos Due from Other Funds Receivables-Disallowance/Charges Advances to Officers and Employees Other Receivables ‘TRUST FUND Due from NGAS Due from LGUs Due from NGOs/Pos Due from Other Funds Receivables-Disallowance/Charges Advances to Officers and Employees Other Receivables TOTAL 2014 2013 P 1,063.80 P 1,063.80 453,821,562.56 327,979,163.79 2,648,896.20 2,648,896.20 195,830,499.04 195,371,671.40 14,832,677.61 6,858,316.33 48,422,266.61 16,930,504.67 169,857,834.53, 159,869,151.53 10,101,797.18 10,117,426,73 895,516,597.53 719,776,1 176,092,287.12 141,888,204.68 1,530,891.90 243,629.40 73,752,639.15 77,852,614.56 796,000.00 : 1,593,477.96 11,248,667.51 3,003,617.88 3,055,785.81 16,451.00 28,192.50 9,339,209.05 278,124,574. 1,037,771.82 1,037,771.82 13,863,648.37 13,863,648.37 166,018.64 166,018.64 30,171,301.37 30,158,996.52 8,364,052.63 8,364,052.63, 634,673.43 64,883.43 806,441.84 806,441.84 55,043,908.10 54,461,813.25 P _1,228,685,079.69_ P _ 1,008,743,394.89 a, The Real Property Tax Receivable and Special Education Fund Tax Receivable were amounts due from the owners of properties entailed as follows: 2014, Beg. Bal. Notes to Financial Statements 2014 Collections 2014,Bal End Page 7 of 25a GENERAL FUND RPT RECEIVABLE Prior Years P —327,979,163.79 Current Year 326,994,277.31 654,973,441.10 SPECIAL EDUCATION FUND SEF TAX RECEIVABLE 2014, Beg. Bal. Prior Years 141,888,204.68 Current Year 194,460,922.13 P _336349,126.81_ P P 33,110,280.32 P 168,041,598. 201,151,878.54 2014 Collections 22,428,378.00 137,828,461.69 160,256,839.69 P 294,868,883.47 158,952,679.09 453,821,562.56 2014,Bal End 119,459,826.68 56,632,460.44 176,092,287.12 . Due from LGUs Account comprised releases of 20% Development Fund and Special Education Fundfor barangay projects which remained unliquidated for the year end. Most of these funds were directly released to the barangay by the previous administration. Due from LGUs Account under the General Fund involved the following barangays: BARANGAY AMOUNT Brgy.1 P 577,700.00 | Brgy.2 680,335.68 Brgy.3 926,600.00 Brgy. 5 441,000.00 Brgy. 6 200,000.00 Brgy.7 1,143,938.90 Brgy.8 696,650.00 Brgy. 10 6,145,171,58, Brgy. 11 4,442,452.17 Brgy. 12 91,818.17 Brgy. 13 696,169.03 Brgy. 14 545,420.00 Brgy. 15 1,496,215.71 Brgy.17 2,702,573.10 Brgy. 18 547,630.47 Brgy. 22 2,040,300.00 Brgy. 23 : 2,332,428.21 Brpy..24 875,221.25 Brgy. 25 410,341.40 Brgy. 26 1,200,000.00 Brgy. 27 504,050.00 Brgy. 30 3,944,039.74 Brgy. 34, 80.00 Brgy. 35 737,555.83 Brgy. 36 1,132,698.15 Brgy. 37 812,550.00 Notes to Financial Statements. Page 8 of 25BARANGAY AMOUNT. Brgy.38 100,000.00 Brgy. 39 2,505,700.11 Brgy. 40 1,266,500.00, Agusan. 2,423,200.00 | Baikingon 1,298,264.95 Balubal 12,585,200.00 Balulang 2,648,100.00 Brgy. Bayabas 582,400.00 Brgy. Bayanga 2,651,100.00 Brgy. Besigan 3,332,200.00 Brgy. Bonbon 1,230,661.51 Brgy. Bugo 2, 700,000.00 Brgy. Canitoan 190,000.00 Brgy. Consolacion 1,255,056.69 Brgy. Cugman 2.351,973.28 Brgy. FS Catanico 2,591,600.00 Brgy. Indahag. 2,887,375.49 Brgy. Kauswagan 15,352,015.99 Brgy. Lapasan 701,000.00 Brgy. Lumbia 3,369,422.75 Brgy. Macabalan 4,598,054.68 Brgy. Mambuaya (217,090.51) Brgy. Pagalongan 2.245,970.00 Brgy. Pagatpat 4,810,594.40 Brgy. Patag 9,218,146.16 Brgy. Pigsag-an 3,370,000.00 Brgy. Puerto 3.293,071.58 Brgy. Puntod 3,396,092.16 Brgy. San Simon 4,510,794.88 Brgy. Tabion 6,932,811.86 Brgy. Taglimao 70,000,000.00. Brgy. Tagpangi 615,720.27 Brgy. Tignapoloan 2,979,000.00 Brgy. Tuburan 90,050.00 Brgy. Tumpagon 5.280,457.54 Total 168,528,383.18 Add: Beg. Bal. 2010 27,302,115.86 GRAND TOTAL | P _195,830,499.04 Due from LGU Account under Special Education Fund (SEF) comprised the following: CHECK OUTSTANDING penance, ee DATE BALANCE “Agusan 15% Cash Advance of the project 4/18/2013 175,646.78 Proposed Multi-Purpose Covered Court (Revised) atAgusan Nats | 6/26/2013 2,000,000.00 Notes to Financial Statements Page 9 of 25— eco ee CHECK | OUTSTANDI BARANGAY PROJECTS cae nee Tigh School. Proposed School Stage at Elementary School 995,331.74 3,170,978.52 Construction OF2 Classroom 1 Baikingon | Storey -Type School Building at 6/21/2013 1,772,831.00 Elementary School Proposed Covered Court w/ Bleachers & Stage at Elem. aes 3,000,000.00 Balubal Proposed Construction of 3 Classrooms One-Storey Building 1/30/2014 1,988,400.00 4,988 400.00 Bonbon Proposed Construction of 4 Classrooms Two-Storey Building | _1/30/2014 1,800,000.00 Balua Proposed Perimeter Fence atBulua | 4/17/2013, Central School (Phase 1) 6/11/2013 1,797,752.89 Camaman-an | Proposed Covered Court at 5/17/2012 Camaman-an National High School | 9/27/2012 1,967,443.01 6/11/2012 Concrete Paving of Makapaya Road from Sta. Cruz to Rosewood brea 373,410.21 Proposed Construction of Classroom 2.Storey School Bldg. Ground Floor | 6/28/2013 3,000,000.00 only 540,853.22 Canitoan | Proposed Reconstruction of Old 126012 Lerias Bldg. at Canitoan Elementary | 1/03/2013 Z School 3/25/2013 3,307,389.42 5/23/2013 Proposed Covered Court at PNRoa Navonat High School 6/26/2013 2,332,600.00 5639,989.42 Dansolihon | Proposed Multi-Purpose Stage at Iba Elem, School 6/28/2013 1,200,700.00 FS Catanico | Partial Completion of 2 Storey-type Saivol Bulling 2011-2013 3,630,880.68 Gusa Flecrric Revamping Of Regional Seas High Seen 6/11/2013 1,059,186.18 Tndahag Proposed Covered Court 4252013 1,137,303.42 Proposed Construction 4 Classroom One-Storey Bldg. Elem. School fea 2,344,468.44 3,481,771,86 Tponan Proposed Construction 4 Classroom | 6/26/2013 5,120,700 Notes to Financial Statements Page 10 of 25BARANGAY PROJECTS Spare tat napance . One-Storey School Bldg. Tapasan Revamp of Electric Connection of | G13 9013 939,800.00 Elementary Revamp of Electric Connection CRABOIS ZAI 300.00 3.421,100.00 Lumbia ae Fence at Lumbia High | 6/96/2013 3,026,700.00 Construction of Two-Storey 8 Kauswagan | Casvoom High Schoo! 6/4/2013 10,029,400.00 Mambuaya | Rehab. of High Schoo! Stage 6/10/2013 300,000.00 Proposed Construction of 2 Pagalungan | Classroom 1 Storey Elem. School reel 1,506,000.00 Covered Court & Stage at Pagatpat | 5/16/2013 Pagatpat Elem, School 6/20/2013 2,230,498.81 Blecirie Revamp at Camp 5/9/2013 Patag Evangelista Elem. School 6/26/2013 1,879,932.15 Proposed Covered Court with Comfort Room at Patag Elem. Sch. | 6/28/2013 2,361,350.00 241,262.18 ; Construction of 4 Classroom 2 57232013 Pigsag-An | Storey Building 6/20/2013 1,097,110.58 “Additional Classroom at Pigsag-an fat aah Shoo! 6/26/2013 500,000.00 1.597,110.58 Construction of 4 Classroom 2 Puniod Story Building 6/26/2013 3,000,000.00 . ‘Concreting of Perimeter Fence of San Simon | (OPC noe Nat High Schol 6/26/2013 1,500,000.00 7 Classroom One-Storey Type TFignapotoan | Schoo! Building 4/182013 1,846,847.54 Repair of 2 Classroom Tignapoloan fie eas 6/21/2013 886,800.00 Proposed Covered Court atTignapoloan Nat'l High School 168,856.40 [— 7,902,503.94 , Proposed Construction of 4 Tuburan Classroom 1-Storey Type Elem Sch. | 6/11/2013 3,000,000.00 GRAND TOTAL 75,752,639.25 ec. General Fund Re ivables — Disallowances/Charges comprised of accumulated amounts of disallowances against City Government employees. However, there are no available documents to substantiate the amount as all records were lost in the occurrence of ‘Notes to Financial Statements Page 11 of 25TyphoonSendongin December 2010. The drastic increase of this account in 2014 was attributed by the Commission on Audit’s (COA) Notice of Finality of Decision on the payment for the Barangay Telephone System Project of the City Government of Cagayan de Oro by the previous administration amounting to P31,544,761.94. Meanwhile the Special Education Fund Receivables — Disallowances/Charges beginning balance was carried over from the COLA disallowances for public school teachers in March 1990. The increase of P 9,150,916 of Other Receivables Account under the Special Education Fund is caused by the reclassification of undetermined amounts included in Due from LGU account. Efforts were already exerted to trace this amount but to no avail. Relevant documents were unobtainable to substantiate this amount as all records were lost in the coceasion of Typhoon Sendong. On the other hand, Trust Fund Receivables — Disallowances/Charges was carried over from 2010 without changes in the amount. d, The General Fund — Advances to Officers and Employees account comprises the following: PURPOSE 2014 2013, Separated Employees P ~ 150,896,097.96 Special Purpose 17,720,936.00 P 158,734,154.04 Travel Cash Advance 383,772.20 915,288.07 From Employees Out of Service 498,704.22 187,446.92 Other Agencies 358,324.15 32,262.50 TOTAL P _169,857834.53_ P __ 159,869,151.53 The drastic increase of cash advance from separated employees is brought by the unliquidated accounts of former Mayor Vicente Emano in the amount of P150,655,000.00 which has been previously classified as cash advance for special purpose. The liquidation will be effected as soon as the credit advice of the COA Chairman or his authorized representative is received. Meanwhile, the Office of the City Accountant has sent monitoring letters to officers and employees, demanding for prompt liquidation of cash advances. NOTE 7 INVENTORIES ‘This account includes the following: 2014 2013 GENERAL FUND Office Supplies Inventory P 673,168.67 BP —_2,273,963.16 Accountable Forms 742,009.11 1,021,456.55 Animal/Zoological Sup 5,090,449.00 3,710,525.00 Food Supplies Inventory 1,373,168.45 3,594,217.85 ‘Drugs and Medicines 17,023,588.88 11,787,561.28 Med., Dental & Lab. Sup. 16,626,514.19 9,228,435.66 Gasoline, Oil and Lubricants Inventory 17,541,274.06 4,791,439.96 Notes to Financial Statements Page 12 of 252014 Agricultural Supplies Inventory 3,270,869.40 3241, 295.00 Other Supplies Inventory 7,168,967.26 8,438,638.60 Spare Parts Inventory 1,284,478.86 6,765,652.24 Livestock Inventory 56,000.00 $6,000.00 Crops and Fruits Inventory 179,210.00 179,210.00 Other Agricultural, Fishery and Forestry Products 720,820.00 720,820.00 72,350,51788 __55,809,215.30 SPECIAL EDUCATION FUND Office Supplies Inventory 14,962.08 2,906,607.40 72,365,479.93 58,715,822.70 a. Office Supplies Inventory both under the General Fund and Special Education Fund were based on the Report of Physical Count of Inventory and purchases on account. 'b. Accountable Forms were controlled by the City Finance Office and monthly reports were submitted to the City Accounting Office for recording purposes. ©. Drugs, Medicines, Medical, Dental and Laboratory Supplies are managed by the City Health Office and JR Borja General Hospital. Likewise monthly reports were furnished to the City Accounting Office for recording purposes. d. Gasoline, Oil,Lubricants and spare parts inventories were controlled by the City General Services Office and the City Equipment Depot Department, respectively.The drastic increase of this account is caused by the purchase of 350, 000 liters of diesel worth P15, 697, 500.00 and 60, 000 liters of unleaded gasoline amounting to P3,551, 400.00 in December 2014. NOTE 8 PREPAYMENTS. ‘This account comprised the following: 2014 2013 GENERAL FUND Advances to Contractors P 10,722,060.57 P —14,235,709.91 Other Prepaid Expenses 45,250.00 10,767,310.57 SPECIAL EDUCATION FUND Advances to Contractors 12,816,089.85 TRUST FUND Advances to Contractors 2,477,744.25 P _26,061,144.67_ P Advances to contractors corresponded to the 15% mobilization fee granted to various contractors, for the construction of horizontal and vertical structures, repair and maintenance roads, renovation of offices and supply, installation, configuration, commissioning of IP based surveillance and traffic signalization system. ‘Notes to Financial Statements Page 13 of 25NOTE 9 PROPERTY, PLANT & EQUIPMENT ‘The details of Property, Plant and Equipment are as follows: BEGINNING DISPOSAL/ ENDING BALANCE, ADDITIONS —_qDJUSTMENTS BALANCE cost Land P 656,940,922.94 P 125,215,09843 P =P 782,156,021.37 Land Improvements 416 447,938.74 - = 416447938.74 Electrification, Power and Energy Structures 4151,460.75 - 7 4,151,460.75 Office Buildings 377247,021.27 12,200,593.82 + 389,487,615.09 Schoo! Buildings 77,128,870.55 - : 17,128,870.55 Hospital and Health Centers 22,411,658.74 : 7 22,411,655.%4 Markets and Slaughterhouses 717,516,560 -: 717,516,560.05 Other Stmctures 33,309,155.74 221 626,449.67 56,819.05 254,878,786.36 Office Equipment 31,110,703.57 7,807,814.60 527,779.50 38,390,738.67 Furniture and Fixtures 4813,392.72 2274371.95 266,312.00 6,821,452.47 IT Equipment and Software 26,134,491.19 34,587,382.80 18,792,545.00 41,929,328.9 Library Books 37,594,334.33 - : 37,594334.33 Machineries 1,086, 700.00 349,000.00 349,000.00 1,086,700.00 Communication Equipment 5,180,874.17 : : 5,180,874.17 Construction and Heavy Equipment 186,061,078.02 20,910.00 - 186,081,988.02 Firefighting Equipment and Accessories 1,565,622.00 : : 1,$65,622.00 Hospital Equipment 18,744,350.35, 1722737141 . 35971,721.76 Medical, Dental and Laboratory Equipment 482,000.00 499,000.00 60,000.00 921,000.00, Miltary and Police Equipment 2,14,462.90 : : 2,144,462.90 Sports Equipment 36,000.00 : : 36,000.00 Technical and Scientific Equipment 38,122,658.59 49,184.00 - 38,171,882.59 Other Machineries and Equipment 11,778,713.56 : : 11,778,713.56 Motor Vehicles 90,506,396.74 7,310,841.16 1,300,000.00 96,517,237.90 Watereratts 1,083,296.57 : 7 1,083,296.57 Other Transportation Equipment 282,87433 : 7 28,8743 Other Property, Plant Equipment 34,937 881.16 684,741.00 : 35,622,622.16 Roads, Highways and Bridges 305,304,797.49 = 305,304,797.49 : Anesian Wells, 1,899,960.83 - 1,899,960.83 i Notes to Financial Statements Page 14 of 25BEGINNING DISPOSAL! ENDING BALANCE, ADDITIONS ADJUSTMENTS BALANCE Reservoirs, Pumping Stations and Conduits Irrigation, Canals, and Laterals 14,321,287.05 - 14,321,287.05 : Flood Controls 2,654,113.74 - 2,654,113.74 - Waterways, Aqueducts, Seawalls, Riverwalls and Others 5,640,243 - 5,640,274.63, - Other Public Infrastructures 16,951,787.03, : 16,951, 787.03 | Total Cost 3:143,591,636.75 429 852,758.64 124,67632__3,205319,719.07 ACCUMULATED DEPRECIATION Electrification, Power and Energy Structures 89,479.95 20,352.50 : 109,892.45, Office Buildings 8,102,630.40 7,649,458.09 - 15,752,088.49 Markets and Slaughterhouses 42,413,102.24 11,310, 160.60 - 53,723,262.84 (Other Structures 3,252,539.45 : - 3.252,539.45 Office Equipment 2,713,047.58 942,379.36 - 3,255,426.94 Furniture and Fixtures 1,409,79794 214,236.77 - 1,624,033.81 IT Equipment and Sofware 8,492,103.71 777.278.10 7 9,269,382.41 Library Books 5,200,240.68 8,218.80 - 5,208,459.48 Machineries 72,187.50 87,249.63 - 159,437.13 Communication Equipment 2,333,399.29 36,294.33 - 2,369,693.62 Construction and Heavy Equipment 40,167,221.40 11,988,336.60 - 52,155,558.00 Firefighting Equipment and Accessories, 382,354.80 25,707.09 - 408,061.89 Hospital Equipment 13,616,332.50 1,874,697.50 - 15,291,030.00 Medical, Dental and Laboratory Equipment 9,450.00 97,773.95 - 107,223.75 ilitary and Police Equipment 1,035,840.67 141,760.48 - 1,177,601.15 ‘Technical and Scientific Equipment 193,806.71 36,39928 : 230,20599 ‘Other Machineries and Equipment 246,081.35 120.971 : 367,052.88, Motor Vehicles 19,160,408.03 1,556,747.11 - 20,717,155.14 Watercrafts 186,000.00 72,000.00 : 258,000.00 Other Transportation Equipment 25,458.69 : - 25,458.69 Other Property, Plant Equipment 1,050,354.89 21,895.83 : 1,072,250.72 Total Depreciation 150,151,836.88 36,381,917.95 = 186,533,754.83 Notes to Financial Statements Page 15 of 25BEGINNING DISPOSAL/ ENDING. BALANCE ADDITIONS ADJUSTMENTS BALANCE, ‘CONSTRUCTION-IN-PROGRESS Agency Assets 163,076,564.14 167,678,093.71 31,544,761.94 299,209,895.91 Roads, Highways and Bridges 697,282,878.07 16,827,639.55 2,374,999.14 711,735,518.48 Plazas and Monuments 17,930,168.27 4,355,290.51 - 12,286,058.78 Ports, Lighthouse and Harbors 190,999.16 190,999.16 Artesian Wells, Reservoirs Pumping Stations & Conduits 3,470,649.98 2,303,963.66 5,714,613.64 Irrigation, Canals and Laterals 17,469,881.60 : 7 17,469,881.60 Flood Controls 6,006,568.89 - 6,006,568.89 Waterways, Aqueducts, Seawall, Riverwalls and Others 14,952,731.37 . 14,952,731.37 ‘Other Public Infrastructure 14,385,625.61 4,299,030.15 1,754912.90 16,929,742.86 TOTAL 924,766,667.09 195,464,017.58 35,674,673.98 1 10.69. NETBOOK VALUE P _ 3,918,206,466.96 P 588,934,858.27 P 403,799,350.30 P 4,103,341,974.93 a. Land acquisitions for the year were as follows: GENERAL FUND Land Expropriation for road widening Land expropriation for School Building Site Land Expropriation for road opening & concreting For relocation site 10% CLGU Counterpart for the Conereting of Farm to Market Road Project CY2013 Registration and Titling Expenses SPECIAL EDUCATION FUND 50% Payment for lot acquired for Macasandig National High School 50% Payment for lot acquired for Gusa National High School Full Payment for lot acquired for Agusan National High School Payment for lot acquired for Dansolihon National High School Payment for lot acquired for CDO National High School TOTAL ADDITIONS TO LAND ACCOUNT Notes to Financial Statements 4,177,987.46 2,285,000.00 354,000.00 1,140,455.00 2,970,000.00 406,330.97 11,333,773.43 7,000,000.00 25,525,500.00 34,855,200.00 2,035,875.00 44,464,750.00 113,881,325.00 P __125,215,098.43. Page 16 of 25b, Increases in Office Buildings account were brought by: ACTIVITIES AMOUNT Major Repairs for City Mayors Office P 510,221.88 Major Repairs for JR Borja General Hospital 11,690,37 Total Increase ” 12,200,593.82 ¢. There was no disposal of property, plant and equipment for the year. All credit entries are reclassification/adjustments of accounts, d. Public Infrastructure Balance was closed to Government Equity. NOTE 10 OTHER ASSETS ‘This account includes the following: 2014 2013 Work/Other Animals P 2,704,765.00 P 2,704,765.00 Breeding Stocks 28,660.00 28,660.00 Other Assets 13,062,860.08 - TOTAL P _15,796,285.08 P 2,733,425.00 The increase of this account pertained to reversal of the adjustment made last year relating to the dropping of other asset items as per COA advice. NOTE 11 CURRENT LIABILITIES This account is composed of the following: 2014 2013 PAYABLE ACCOUNTS Accounts Payable 276,716,455.65 P 196,244,104.90 Due to Officers and Employees 22,070,010.28 16,873,101.39 P ___298,786,465.93 213,117,206.29 INTERAGENCY PAYABLES. Due to BIR 9,708,357.34 9,301,925.26 Due to GSIS 10,750,003.83 10,167,827.50 Due to PAG-IBIG 2,929,461.71 2,805,958.31 Due to Philhealth 2,254,216.19 992,839.12 ‘Due to Other NGAs 82,482,575.22 108,954,366.29 ‘Due to Other GOCCs 282.72 282.72 Due to LGUs 104,581,650.66 123,039,342.19 212,706,547.67 255,262,541.39 INTRA-AGENCY PAYABLES ‘Due to Other funds 42,792,320.03 53,557,184.45 l LOANS PAYABLE, DOMESTIC 152,414,243,88 156,107,006.19 | Notes to Financial Statements Page 17 of 25