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Changes of the Agency’s Accumulated Surplus /Deficit account are stated as follows:
Increase
Particulars 2016 2015
(Decrease)
Balance beginning
Changes in Accounting Policy (493,961.00) (2,145,935.23) 1,651,974.23
Prior Year Adjustment 144,473.42 369,069.43 (224,596.01)
Restated Balance (349,487.58) (1,776,865.80) 1,427,378.22
Changes in Net Assets/Equity
Surplus (deficit) for the period (116,996.19) 1,282,904.80 (1,399,900.99)
Total recognized revenue and (116,996.19) 1,282,904.80 (1,399,900.99)
expense for the period
Balance Ending (446,483.77) (493,961.00) 27,477.23
7.2 Prior year’s adjustment represents amount adjusted on depreciation of PPEs and liquidation of
receivables/disallowances.
.
7.3 The agency has accumulated a P 116,996.19 which comprises depreciation expense for
the year.
I. FINANCIAL PERFORMANCE
Note 8 – Assistance and Subsidy
18.1 The Subsidy from National Government consists of receipts of Notice of Cash
Allocation/Notice of Transfer of Allocation for Regular Fund, Terminal Leave Benefit and
issuances of Tax Remittance Advices to Bureau of Internal Revenue
8.1 There was no NCA received under CARP Fund 158 for CY 2016.
Expenses
Note 9 – Non-Cash
PPSAS 24 requires comparison of budget amounts and the actual amounts arising from
execution of the budget to be included in the financial statements of entities that are required to,
or elect to, mail publicly available their approved budget, and for which they are, therefore held
publicly accountable. Compliance with the requirements of the standard will ensure
that public sector entities discharge their accountability obligations and enhance the
transparency of their financial statements by demonstrating (a) compliance with the approved
budget for which they are held publicly accountable and (b) where the budget and the financial
statements are prepared on the same basis, their financial performance in achieving the budgeted
results.
RECEIPTS
Tax Revenue - - - -
Loan Proceeds - - - -
184,080.0
Others - Collection from COA Disallowance - - 0 184,080.00
184,080.0
- - 0 184,080.00
PAYMENTS
- - - -
Capital Outlay - - - -
Financial Expenses - - - -
Other Disbursements
Loan Repayment
Others - - -
184,080.0
- - 0 184,080.00
NET RECEIPS/PAYMENT - - - -
OPERATING -
INVESTING -
TOTAL -
that public sector entities discharge their accountability obligations and enhance the
transparency of their financial statements by demonstrating (a) compliance with the approved
budget for which they are held publicly accountable and (b) where the budget and the financial
statements are prepared on the same basis, their financial performance in achieving the budgeted
results.
Particulars Amount
Settlement of Disallowance -
Collection of other receivables 170,080.00
Total 170,080.00
:
Note 12. Remittance to National Treasury