You are on page 1of 22

Account NaSAN ISIDRO FARMERS IRRIGATORS ASSOCIATION, INC.

I. BASIC ASSSUMPTIONS
A. RELENDING - LBP FUNDS
A. ESTIMATED INCOME PER HECTARE Dry Season
Palay Gross Production (in bags) 75
Less: Tresher & Harvester (2 bags ea. For every 25 bags) 12
Net Production after Tresher/Harvester 63
No. of Kilos per Bag 55
Total No. of Kilos 3,465
Selling Price per kilo 18.00
Gross Sales Per Hectare 62,370
Less: NIA allocation 2,700
Net Production after NIA allocation 59,670

B. PRODUCTION COST PER HECTARE


1 Land Preparation
a Hand Tractor (P2600 per ha.) 2,600
b Slashing (P150/day X 8) 1,200
c Repair dikes (P300/day X 4) 1,200
d Harrowing (P2400 per ha.) 2,400
e Levelling (P500 per ha. X 3) 1,000
f Operator (P350 per ha. X 3) 1,050
g Spraying (P1500 per has.) 1,500
h Fuel (P45/ltr. X 24) 1,080
Sub-total 12,030
2 Seeds (5 X P730) 3,650
3 Transplanting
a Pulling of seedlings ( P1 X 2000) 2,000
b Transplanting 3,000
Sub-total 5,000
4 Chemicals
a Mollusicide - 1 bottle x P800 800
b Herbicide - 1 bottle x P1500 1,500
c Insecticide
1. Green Label - 1 liter x P450 450
2. Yellow label - 1 liter x P650 650
d Nematocide 1,146
e Fungicide 700
f Rodenticide (P25 x 15) 375
Sub-total 5,621
5 Fertilizers
5.1 Granules
a. Urea 46-0-0 1,150
b. Amosul 21-0-0 (P650/bag X2) 1,300
c. Potash 0-0-60 1,250
d. Complete 14-14-14 (P1150/bag x 2) 2,300
e. Organic (P250 x 10 bags) 2,500
Sub-total 8,500
Sub-total before PCIC 34,801
6 PCIC Insurance 2,199
Total Production Cost Per Hectare 37,000
C. ALLOCATION OF PRODUCTION COST PER CROPPING
Particulars Prod. Cost LBP Loan
1 Land Preparation
a Hand Tractor (P2600 per has.) 2,600 2,600
b Slashing (P200/day X 6) 1,200 1,200
c Repair dikes (P300/day X 4) 1,200 1,200
d Harrowing (P2400 per has.) 2,400 2,400
e Levelling (P500 per has. X 2) 1,000 1,000
f Operator (P350 per has. X 3) 1,050 1,050
g Spraying (P1500 per has.) 1,500 1,500
h Fuel (P45/ltr. X 24) 1,080 1,080
Sub-total 12,030 12,030
2 Seeds (5 x 720) 3,650 3,650
3 Transplanting
a Pulling of seedlings (P1 for every 100 x 2000) 2,000 2,000
b Transplanting (P2200 per has.) 3,000 3,000
Sub-total 5,000 5,000
4 Chemicals
a Mollusicide - 1 bottle x P800 800 800
b Herbicide - 1 bottle x P600 1,500 1,500
c Insecticide
1. Green Label - 1 liter x P450 450 -
2. Yellow label - 1 liter x P735 650 -
d Nematocide 1,146 -
e Fungicide 700 700
f Rodenticide 375 -
Sub-total 5,621 3,000
5 Fertilizers
5.1 Granules
a. Urea 46-0-0 1,150 1,150
b. Amosul 21-0-0 (P650/bag X2) 1,300 1,300
c. Potash 0-0-60 1,250 1,250
d. Complete 14-14-14 (P1150/bag x 2) 2,300 2,300
e. Organic 2,500 2,020
Sub-total 8,500 8,020
Sub-total before PCIC 34,801 31,700
6 PCIC Insurance 2,199 -
Total Production Cost Per Hectare 37,000 31,700
PERCENTAGE SHARING 100% 86%

D. COOP'S INTEREST RATE TO FARMERS


E. AMOUNT APPLIED PER HECTARE
F. PAYMENT FOR NIA RE: WATER ALLOCATION
Price per Kilo
Dry Season 150 kilos
Wet season 100 kilos

II. PROJECTED CASH FLOW STATEMENT


DRY SEASON WET SEASON
Receipts
LBP Loan 31,700.00 31,700.00
Sales - Palay 62,370.00 72,270.00
Sub-total 94,070.00 103,970.00
Disbursement
Cost of Production 34,801.00 34,801.00
PCIC Insurance 2,199.00 1,366.00
NIA - Water Allocation 2,700.00 1,800.00
Sub-total 39,700.00 37,967.00
Net Cash Flow Before Debt Service 54,370.00 66,003.00
Principal 31,700.00 31,700.00
Interest 2,695.00 2,695.00
Debt Service 34,395.00 34,395.00
Net Cash Flow After Loan Payment 19,975.00 31,608.00
Add: Cash Beginning (Farmer's Equity) 5,300.00 25,275.00
Cash, Ending 25,275.00 56,883.00

III. PROJECTED INCOME STATEMENT


DRY SEASON WET SEASON
Income - Palay 62,370.00 72,270.00
Less: Production Cost 34,801.00 34,801.00
PCIC Insurance 2,199.00 1,366.00
NIA - Water Allocation 2,700.00 1,800.00
Total Expenses 39,700.00 37,967.00
Gross Income 22,670.00 34,303.00
Less: Interest Expense 2,695.00 2,695.00
Net Income 19,975.00 31,608.00

IV. PROJECTED BALANCE SHEET


DRY SEASON WET SEASON
Assets
Cash on Hand 25,276.00 56,884.00
Total Assets 25,276.00 56,884.00
Liabilities & Capital
Net Income 19,975.00 31,608.00
Farmer's Equity 5,300.00 25,276.00
Total Liabilities & Capital 25,275.00 56,884.00
1.00 0.00
V. FINANCIAL RATIOS
DRY SEASON WET SEASON
Net Income Margin
Net Income 19,975.00 31,608.00
Income - Palay 62,370.00 72,270.00
Net Income Margin 32% 44%
Debt Sevice Cover
Net Cash Flow Before Loan Payment 54,370.00 66,003.00
Total Loan + Interest 34,395.00 34,395.00
Debt Service Cover 1.58 1.92
Debt/Equity Ratio
Total Loan 31,700.00 31,700.00
Farmer's Equity 5,300.00 25,276.00
Debt/Equity Ratio 5.98 1.25

PCIC PREMIUM COMPUTATION


Method of Farming IN-ORGANIC/ORGANIC
Account Name: SIFIA Premium Rates
Loan Amount: 37000
Area Financed 1 Farmer's Share 4.60%
Cropping Season Dry Season Lending Institution 2.11%
(November - April)
Medium Risk Area ( Carmen)
Add'l 20%
100% Coverage Total
Farmer's Share:
Coverage 37,000 7,400 44,400
Premium Rates 4.60% 6.71%
Sub-Total 1,702 497 2,199
Premium to be Paid by Farmers 2,199

Loan Amount: 37000 Premium Rates


Area Financed 1 Farmer's Share 2.76%
Cropping Season Wet Season Lending Institution 1.90%
(May - October)
Medium Risk Area ( Carmen)
Add'l 20%
100% Coverage Total
Farmer's Share:
Coverage 37,000 7,400 44,400
Premium Rates 2.76% 4.66%
Sub-Total 1,021 345 1,366
Premium to be Paid by Farmers 1,366

I. PROJECTED INCOME STATEMENT


A. SOURCES OF REVENUE/INCOME
1. INCOME FROM SALES
a. MILLED RICE FOR ITS MEMBERS
Number of hectares
Average production per hectare per cropping (in bags)
No. of kilos per bag
Estimated Marketable Stocks (in kilos)
Buying Price per Kilo
Average deduction (depending on the moisture content of stocks)
Average Net Price for stocks (fresh) per kilo
Total Purchases
Stocks
Drying Recovery Rate
Net Marketable Stocks after Drying
Milling Recovery Rate
Net Marketable Stocks after Milling
No. of kilos per bag
No. of bags

Estimated Price per bag


Estimated Sales per Annum
Less: Cost of Sales Beginning Inventory
Add: Purchases
Less: Ending Inventory
Cost of Sales
Gross Profit on Sales

b. CRUDE OIL DURING HARVEST SEASON


Estimated Stocks per Cropping (in liters)
Buying Price
Selling Price
Purchases
Estimated Sales

c. Total Sales
Cost of Sales
Gross Profit

2. INCENTIVE/COMMISSION FROM MARKETING OF WET PALAYS


Number of Hectares
Average production per hectare per cropping (in bags)
No. of kilos per bag
Projected Marketable fresh palays (in kilos)
Commission per kilo
Commission per cropping
Commission per annum

3. INCOME FROM LOANS THRU LBP FINANCING


Area to be financed (in hectarage)
Number of Member/Borrowers
Amount to be financed by LBP per hectare
Total amount to be financed to farmers
Interest Rate LBP to Coop (8.5% p.a. / ave. 3.5 mos. per cropping)
Coop to Members (1.5% per month)
Interest Income per annum
Interest Expense per annum

4. OTHER INCOME to increase 1% annually 558,990

B. OTHER UNDERLYING ASSUMPTIONS:


1 Operating expenses to increase every year 1,320,731
Plus: Estimated tax to increase by 2% per year 28,181
Total Operating Expense including taxes paid

2 Property and Equipment


Add: New Property and Equipment
Total Property and Equipment
Less: Accumulated Depreciation Expense (1,401,230)
Property and Equipment

3 Annual Depreciation Expense 600,424


Add: Additional Depreciation Expense for New Vehicle
Total Annual Depreciation Expense

4 Beginning Inventory
Less: Sales from inventory
Ending Inventory

5 Assuming total loan with LBP


LOAN FACILITY AMOUNT INT. RATE AVE. RATE
Relending-Rice Production 6,296,000 8.50% 5%
Relending-Rice Production 10,000,000 8.50% 5%
TOTAL INTEREST 6,296,000
Assuming total loan for 2016 as follows:
Total Loan with LBP
Interest Expense
Debt Service

6 Loans Receivables - Current


Less: Collections - Old Account
Add: Releases
Less: Partial Collection
New Loans Receivable - Current

7 Loans Payable - LBP


Less: Settlement of Loan
Add: Loan Availment
New Loans Payable

C. PROJECTED INCOME STATEMENT


REVENUES
Gross Profit on Sales
Incentive/Commission from Sale of Wet Palays
Income from loans using LBP Funds
Other Income
Total Revenue 2,126,784
LESS: OPERATING EXPENSES
Depreciation Expense
Interest Expense
Total Operating Expenses
NET INCOME BEFORE TAXATION
Less: Taxes Paid
NET INCOME AFTER TAXATION 37,317
Net Income Margin

II. PROJECTED CASH FLOW


A. SOURCES OF FUNDS LBP Loan

B. PROJECTED CASH FLOW - DIRECT METHOD


CASH INFLOWS
OPERATIONAL INFLOWS
Proceeds from LBP Loan
Cash Receipt from Sales
Cash Receipt from Other Operations
Partial Collection on New Loan Releases
Cash Receipt from Collection of Loans - Old
TOTAL CASH INFLOWS
CASH OUTFLOWS
Cash Disbursement for Loan Releases - LBP
Cash Payment on Purchases
Cash Payment for Operating Expenses
Cash Payment for Taxes
Sub-Total
NET CASH BEFORE DEBT SERVICE
Debt Service:
Loans Payable
Interest Expense
Debt Service
NET CASH AFTER DEBT SERVICE
Add: Cash Beginning
Cash, End

C. PROJECTED CASHFLOW - INDIRECT METHOD


Cash Flows from Operating Activities
Profit before Taxation
Adjustments for:
Depreciation Expense
(Increase)/Decrease in Loans Receivable - Current
(increase)/Decrease in Inventories
Interest Paid
Wet Season
85
12
73
55
4,015
18.00
72,270
1,800
70,470

2,600
1,200
1,200
2,400
1,000
1,050
1,500
1,080
12,030
3,650

2,000
3,000
5,000

800
1,500

450
650
1,146
700
375
5,621

1,150
1,300
1,250
2,300
2,500
8,500
34,801
1,366
36,167

Coop's Equity

-
-
-
-
-
-
-
-
-
-

-
-
-

-
-

450
650
1,146
-
375
2,621

-
-
-
-
480
480
3,101
2,199
5,300
14%

31,700

18.00
2,700.00
1,800.00

1 YEAR

63,400.00
134,640.00
198,040.00

69,601.00
3,565.00
4,500.00
77,666.00
120,374.00
63,400.00
5,389.00
68,789.00
51,585.00
30,575.00
82,160.00

1 YEAR
134,640.00
69,602.00
3,565.00
4,500.00
77,667.00
56,973.00
5,390.00
51,583.00

1 YEAR

56,884.00
56,884.00
31,608.00
25,276.00
56,884.00
2016 2017

32 32
50 50
57 57
91,200 91,200
20 20
4 4
16 16
1,459,200 1,459,200
91,200 91,200
86% 86%
78,432 78,432
65% 65%
50,981 50,981
50 50
1,020 1,020

2,050 2,050
2,090,213 2090213
1,535,505 1,100,000
1,459,200 1,459,200
(1,100,000) (700,000)
1,894,705 1,859,200
195,508 231,013

8,700 8,700
27 28
30.50 31.50
234,900 243,600
265,350 274,050

2,355,563 2,364,263
(2,129,605) (2,102,800)
225,958 261,463
600 600
60 60
60 60
2,160,000 2,160,000
0.45 0.45
972,000 972,000
1,944,000 1,944,000

270 270
173 173
37,000 37,000
10,000,000 10,000,000
5% 5%
9% 9%
900,000 900,000
495,833 495,833

564,580 570,226

1,981,097 2,000,908
28,744 29,319
2,009,841 2,030,227

4,911,581 4,911,581
- -
4,911,581 4,911,581
(2,001,654) (2,602,079)
2,909,927 2,309,502

600,424 600,424
- -
600,424 600,424

1,535,505 1,100,000
435,505 400,000
1,100,000 700,000

2016 2017
312,177
495,833
312,177 495,833
6,296,000 10,000,000
312,177 495,833
6,608,177 10,495,833

2,980,472 8,000,000
(2,980,472) (8,000,000)
10,000,000 10,000,000
(2,000,000) (1,400,000)
8,000,000 8,600,000

6,296,000 10,000,000
(6,296,000) (10,000,000)
10,000,000 10,000,000
10,000,000 10,000,000

225,957 261,463
1,944,000 1,944,000
900,000 900,000
564,580 570,226
3,634,537 3,675,689
1,981,097 2,000,908
600,424 600,424
312,177 495,833
2,893,698 3,097,165
740,839 578,524
(28,744) (29,319)
712,095 549,205
20% 15%

10,000,000 10,000,000
10,000,000 10,000,000

2016 2017

10,000,000 10,000,000
2,355,563 2,364,263
3,408,580 3,414,226
2,000,000 1,400,000
2,980,472 8,000,000
20,744,615 25,178,489
10,000,000 10,000,000
1,694,100 1,702,800
1,981,097 2,000,908
28,744 29,319
13,703,941 13,733,027
7,040,674 11,445,462

6,296,000 10,000,000
312,177 495,833
6,608,177 10,495,833
432,497 949,629
874,011 1,306,507
1,306,508 2,256,136
107% 109%
CAVENDISH BANANA PRODUCTION
ESTABLISHMENT/DEVELOPMENT COSTS PER HECTARE

1. LABOR COSTS

LAND PREPARATION
PARTICULARS Qty Unit

1. Survey
Relocation Blocking Survey 1.00 hectare
Topographic 1.00 hectare
2. Land Clearing-Mechanical (Backhoe) 2.00 hours/hectare
3. Harrowing - 1st Pass 2.50 hours/hectare
5. Ripping - 2 passes 5.00 hours/hectare
7. Harrowing - 2nd Pass 2.50 hours/hectare
8. Disc Plowing (2 passes) 2.00 passes
9. Graveyarding of debris 3.00 hrs/ha.
10. Road Forming/ Construction 1.00 hour/hectare
Sub-Total
DRAINAGE & IRRIGATION SYSTEM CONSTRUCTION
PARTICULARS Qty Unit

1. Primary canal excavation 30.00 hours/hectare


2. Excavation of Secondary Canal 30.00 hours/hectare
3. Tertiary Canal @ 20 mtrs interval 35.00 hours/hectare
4. Irrigation System (sprinkler - under tree)
Sub-Total
PLANTING, PLANT CARE, FRUIT CARE

PARTICULARS Freq./yr Qty Unit


1. Prior to Planting
1.1 Organic manure loading/application
a. Manure loading (manual 10 tons) 16.00 MDs/hectare
b. Limestone loading (manual 3 tons) 8.00 MDs/hectare
1.2 Blocking/Staking 2.00 MDs/hectare

2. Planting/Replanting
2.1 Hauling, holing, applying fertilizer and mixing
with soil inside the planting hole 8.00 MDs/hectare
2.2 Distributing planting materials in staked spots 5.00 MDs/hectare
2.3 Planting 4.00 MDs/hectare
2.4 Replanting 1.00 MDs/hectare

3. Plant and Fruit Care Operations


Plant Care
3.1 Base Cleaning and Ring Weeding 8.0 2.00 MDs/cycle/ha.
3.2 Stem and Mat Spray/Sanitation 6.0 6.00 MDs/cycle/ha.
3.3 Plant Population Control 8.0 2.00 MDs/cycle/ha.
3.4 Leaf Pruning/Trimming 13.00 MDs/cycle/ha.
3.5 Fertilization 33.60 MDs/cycle/ha.
Fruit Care
3.6 Propping 48 0.33 MD/ha/cycle
3.7 Removing Fruit Obstacles 13 MDs/ha/cycle
3.8 Bunch Spraying 72 0.1 MDs/ha/cycle
3.9 Fruit Bagging 24 0.125 MDs/ha/cycle
3.10 Bud Injection 60 0.1 MDs/ha/cycle
DISEASE MANAGEMENT & WEED CONTROL 8 10 MDs/ha/cycle

INITIAL HARVESTING bunch/ha.

Total for Labor Inputs

2. MATERIAL COSTS

MATERIAL AND FARM INPUTS

PARTICULARS Freq./yr Qty Unit


1. Seedlings (tissue culture) 2,000.00 pcs.

2. Bamboo Stakes 2,000.00 pcs.

3. Fertilizer
3.1 Organic Fertilizer (chicken dung) 100.00 bags/ha.
3.2 Limestone 3.00 tons
3.3 Inorganic Fertilizer
Ammonium Sulfate 3 2.50 bags/ha.
Urea 8 2.00 cycles/bags/ha.
Zinc Sulfate 2 3.00 cycles/bags/ha.
Zinc Chloride 4 3.00 cycles/bags/ha.

4. Chemicals
4.1 Herbicide - Round-up 4 1.00 cycles/liter/ha.
Gramoxon 4 1.00 cycles/liter/ha.
Basta (after planting) 2 1.50 cycles/liter/ha.
4.2 Gas Prunning - Formalin 2 2.00 cycles/liter/ha.
Kerosine 3 liter/ha
4.3 P&D Control/Crop Protection
Bankit 24 0.08 cycles/liter/ha.
SICO 3 0.40 cycles/liter/ha.
Banole 6 5.00 cycles/liter/ha.
Baycor 3 0.50 cycles/liter/ha.
Manze (MDF) 3 2.14 cycles/liter/ha.
Daconil 3 1.40 cycles/liter/ha.
Dithane Flowable 3 4.00 cycles/liter/ha.
Al-100 3 0.20 cycles/liter/ha.
Folicur 3 0.20 cycles/liter/ha.
Vondozeb 4 4.00 cycles/liter/ha.
4.4 Bud Injection
Confidor 12 0.04 cycles/liter/ha.
Success 12 0.02 cycles/liter/ha.
4.5 Bunch Spray
Basudin 12 0.10 li/ha.
Topsin 12 0.15 kg/ha.
5. Bagging Materials
Polybag 90.00 kgs/ha/year
Flat twine 15.00 kgs/ha/year
6. Propping Materials
Twine for Propping (Polytwine) 8.00 kgs/ha/year
Bamboo Poles 4,000.00 pcs./ha.
7. Plastic Ribbon 1 1.00 kg/ha.
8. Cellophane (sok-sok) 8.00 kgs/ha.
9. Small tools / Safety Gears / Needle assorted/ha.
10. Electic Costs for Sprinkler Irrigation System 9.00 month/ha.
Total for Material Inputs
C. OTHERS
1. PCIC/AGF Premium
Total Establishment/Development Costs
Loan Ceiling
Debt to Equity Ratio
***Costs of fertilizers are subject to price changes but not to exceed the approved loan ceiling
BORROWER
Cost/Unit LBP LOAN Total
EQUITY

3,600.00 - 3,600.00 3,600.00


3,600.00 - 3,600.00 3,600.00
2,760.00 - 5,520.00 5,520.00
1,800.00 - 4,500.00 4,500.00
2,500.00 - 12,500.00 12,500.00
1,200.00 - 3,000.00 3,000.00
6,000.00 - 12,000.00 12,000.00
1,200.00 - 4,500.00 4,500.00
6,000.00 - 6,000.00 6,000.00
- 55,220.00 55,220.00

BORROWER
Cost/Unit LBP LOAN Total
EQUITY
1,200.00 - 36,000.00 36,000.00
1,000.00 - 30,000.00 30,000.00
600.00 21,000.00 - 21,000.00
160,000.00 160,000.00 - 160,000.00
181,000.00 66,000.00 247,000.00

BORROWER
Cost/Unit LBP LOAN EQUITY Total
4,800.00 400.00 5,200.00

200.00 3,200.00 - 3,200.00


200.00 1,600.00 - 1,600.00
200.00 - 400.00 400.00

- 2,700.00 2,700.00

200.00 - 1,600.00 1,600.00


200.00 - 100.00 100.00
200.00 - 800.00 800.00
200.00 - 200.00 200.00

34,468.00 - 34,468.00
200.00 3,200.00 - 3,200.00
200.00 9,600.00 - 9,600.00
200.00 3,200.00 - 3,200.00
200.00 2,600.00 - 2,600.00
200.00 6,720.00 - 6,720.00

200.00 3,168.00 - 3,168.00


200.00 2,600.00 - 2,600.00
200.00 1,040.00 - 1,040.00
200.00 1,300.00 - 1,300.00
200.00 1,040.00 - 1,040.00
200.00 16,000.00 - 16,000.00

6.00 900.00 - 900.00

237,168.00 124,320.00 361,488.00

BORROWER
Cost/Unit LBP LOAN EQUITY Total
14.00 28,000.00 - 28,000.00

0.25 500.00 - 500.00

50,450.00 - 50,450.00
68.00 6,800.00 - 6,800.00
1,000.00 3,000.00 - 3,000.00
40,650.00 - 40,650.00
700.00 5,250.00 - 5,250.00
1,200.00 19,200.00 - 19,200.00
900.00 5,400.00 - 5,400.00
900.00 10,800.00 - 10,800.00

40,271.30 543.00 40,814.30


360.00 1,440.00 - 1,440.00
390.00 1,560.00 - 1,560.00
400.00 1,200.00 - 1,200.00
30.00 - 120.00 120.00
45.00 - 135.00 135.00

3,260.00 6,259.20 - 6,259.20


1,980.00 2,376.00 - 2,376.00
60.00 1,800.00 - 1,800.00
2,427.00 3,640.50 - 3,640.50
280.00 1,797.60 - 1,797.60
650.00 2,730.00 - 2,730.00
420.00 5,040.00 - 5,040.00
480.00 - 288.00 288.00
2,000.00 1,200.00 - 1,200.00
350.00 5,600.00 - 5,600.00

6,100.00 2,928.00 - 2,928.00


1,900.00 456.00 - 456.00

445.00 534.00 - 534.00


950.00 1,710.00 - 1,710.00
14,475.00 - 14,475.00
140.00 12,600.00 - 12,600.00
125.00 1,875.00 - 1,875.00
46,000.00 - 46,000.00
250.00 2,000.00 - 2,000.00
11.00 44,000.00 - 44,000.00
60.00 - 60.00 60.00
100.00 800.00 - 800.00
10,000.00 - 10,000.00
300.00 2,700.00 - 2,700.00
193,196.30 603.00 193,799.30
- 21,500.00
- 21,500.00 21,500.00
430,364.30 146,423.00 576,787.30
430,000.00
0.75 0.25