Department of Education

NCR-Division Office of Pasig City

Notes to [Consolidated] Financial Statements PPSAS 1
For the year ended December 31, 2016

A.Body

1. General Information/Agency Profile

The [consolidated] financial statements of NCR-Division of Pasig City were PPSAS

authorized for issue on February 24, 2016 signed by the Head of the Agency/ 1.63(b), PPSAS
Authorized Representative as shown in the Statement of Management 14.26
Responsibility for Financial Statements signed by Mr. Fredie V. Avendaño, OIC,
Schools Division Superintendent.

This division is one of the division offices under the jurisdiction of DEPED-National PPSAS 1.150,
Capital Region. It was made operational on June 1, 1994, pursuant to Section 35, PPSAS
Chapter 5, Book IV of E.O. No. 29 and Memorandum Order No. 27 mandating the
Heads of the departments, agencies and instrumentalities of the national government
to streamline and improve their operations and organization. The Division of Pasig
City is composed of twenty-eight (28) Elementary Schools and twelve (12)
Secondary Schools. The registered office is located on Caruncho Avenue, San
Nicolas, Pasig City.

2. Statement of Compliance and Basis of Preparation of Financial Statements

The [consolidated] financial statements have been prepared in accordance with and PPSAS 1.129
comply with the Philippine Public Sector Accounting Standards (PPSAS) issued by PPSAS 2
the Commission on Audit per COA Resolution No. 2014-003 dated January 24, PPSAS 6
2014.

The [consolidated] financial statements have been prepared on the basis of historical
cost, unless stated otherwise. The Statement of Cash Flows is prepared using the
direct method.

3. Summary of Significant Accounting Policies

3.1 Basis of accounting

The [consolidated] financial statements are prepared on an accrual basis in PPSAS 1, 6

accordance with the Philippine Public Sector Accounting Standards (PPSAS).

3.2 Consolidation

a. Consolidated Entities/Controlled Entities

Consolidated entities

The [consolidated] financial statements reflect the assets, liabilities, PPSAS 6

revenues, and expenses of the reporting entity and all controlled entities.

3.3 Financial instruments

a. Financial assets

Initial recognition and measurement

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 Financial assets within the scope of PPSAS 29-Financial Instruments: PPSAS 29.10
Recognition and Measurement are classified as financial assets at fair value PPSAS 30.31
through surplus or deficit, held-to-maturity investments, loans and
receivables or available-for-sale financial assets, as appropriate. The
DepEd-NCR-Division of Pasig City determines the classification of its
financial assets at initial recognition.

Purchases or sales of financial assets that require delivery of assets within a PPSAS 29.40
time frame established by regulation or convention in the marketplace
(regular way trades) are recognized on the trade date, i.e., the date that the
DepEd-NCR-Division of Pasig City commits to purchase or sell the asset.

The DepEd-NCR-Division of Pasig City's financial assets include: cash and

short-term deposits; trade and other receivables; loans and other
receivables; quoted and unquoted financial instruments; and derivative
financial instruments.

Subsequent measurement

The subsequent measurement of financial assets depends on their

classification.

Loans and receivables

Loans and receivables are non-derivative financial assets with fixed or PPSAS 29.10
determinable payments that are not quoted in an active market. After initial PPSAS
measurement, such financial assets are subsequently measured at amortized 29.48(a)
cost using the effective interest method, less impairment. Amortized cost is
calculated by taking into account any discount or premium on acquisition PPSAS 29.65
and fees or costs that are an integral part of the effective interest rate. Losses
arising from impairment are recognized in the surplus or deficit.

Derecognition

The Division of Pasig City derecognizes a financial asset or, where PPSAS 29.19
applicable, a part of a financial asset or part of a Division of Pasig City PPSAS 29.20-
similar financial assets when: 22

 The rights to receive cash flows from the asset have expired or is
waived

 The Division of Pasig City has transferred its rights to receive cash
flows from the asset or has assumed an obligation to pay the received
cash flows in full without material delay to a third party; and either: (a)
the Division of Pasig City] has transferred substantially all the risks and
rewards of the asset; or (b) the Division of Pasig City has neither
transferred nor retained substantially all the risks and rewards of the
asset, but has transferred control of the asset.

Impairment of financial assets

The Division of Pasig City assesses at each reporting date whether there is
objective evidence that a financial asset or a group of financial assets is
impaired. A financial asset or a group of financial assets is deemed to be PPSAS 29.67-
impaired if, and only if, there is objective evidence of impairment as a result 68
of one or more events that has occurred after the initial recognition of the PPSAS
106
 asset (an incurred “loss event”) and that loss event has an impact on the 30.AG5(f)
estimated future cash flows of the financial asset or the group of financial
assets that can be reliably estimated.

Evidence of impairment may include the following indicators:

 Observable data indicates a measurable decrease in estimated future

cash flows (e.g. changes in arrears or economic conditions that
correlate with defaults)

Financial assets carried at amortized cost

For financial assets carried at amortized cost, the Division of Pasig City first PPSAS 29.72-
assesses whether objective evidence of impairment exists individually for 73
financial assets that are individually significant, or collectively for financial
assets that are not individually significant. If the Division of Pasig City]
determines that no objective evidence of impairment exists for an
individually assessed financial asset, whether significant or not, it includes
the asset in a group of financial assets with similar credit risk characteristics
and collectively assesses them for impairment. Assets that are individually
assessed for impairment and for which an impairment loss is, or continues to
be, recognized are not included in a collective assessment of impairment.

If there is objective evidence that an impairment loss has been incurred, the PPSAS
amount of the loss is measured as the difference between the assets carrying 29.AG117
amount and the present value of estimated future cash flows (excluding PPSAS 30.20
future expected credit losses that have not yet been incurred). The present PPSAS 29.73
value of the estimated future cash flows is discounted at the financial asset’s PPSAS
original effective interest rate. If a loan has a variable interest rate, the 29.AG126
discount rate for measuring any impairment loss is the current effective PPSAS
interest rate. 30.AG5(d)(i)
and (ii)
The carrying amount of the asset is reduced through the use of an allowance
account and the amount of the loss is recognized in surplus or deficit. Loans
together with the associated allowance are written off when there is no
realistic prospect of future recovery and all collateral has been realized or
transferred to the Division of Pasig City. If, in a subsequent year, the amount
of the estimated impairment loss increases or decreases because of an event
occurring after the impairment was recognized, the previously recognized
impairment loss is increased or reduced by adjusting the allowance account.
If a future write-off is later recovered, the recovery is credited to finance
costs in surplus or deficit.

b. Financial liabilities

Initial recognition and measurement

Financial liabilities within the scope of PPSAS 29 are classified as financial PPSAS 29.10
liabilities at fair value through surplus or deficit or loans and borrowings, as
appropriate. The entity determines the classification of its financial
liabilities at initial recognition.

All financial liabilities are recognized initially at fair value and, in the case PPSAS 29.45
of loans and borrowings, plus directly attributable transaction costs. PPSAS 29.49

The Division of Pasig City’s financial liabilities include trade and other
payables, bank overdrafts, loans and borrowings, financial guarantee
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 contracts.

Subsequent measurement

The measurement of financial liabilities depends on their classification.

Financial liabilities at fair value through surplus or deficit

Financial liabilities at fair value through surplus or deficit include financial PPSAS 29.10
liabilities held for trading and financial liabilities designated upon initial PPSAS
recognition as at fair value through surplus or deficit. 29.49(a)

Financial liabilities are classified as held for trading if they are acquired for
the purpose of selling in the near term.

This category includes derivative financial instruments entered into by the

Group that are not designated as hedging instruments in hedge relationships
as defined by PPSAS 29.

Gains or losses on liabilities held for trading are recognized in surplus or PPSAS
deficit. 29.64(a)

Loans and borrowing

After initial recognition, interest bearing loans and borrowings are PPSAS 29.65
subsequently measured at amortized cost using the effective interest
method. Gains and losses are recognized in surplus or deficit when the
liabilities are derecognized as well as through the effective interest method
amortization process.

Amortized cost is calculated by taking into account any discount or

premium on acquisition and fees or costs that are an integral part of the
effective interest rate.

Derecognition

A financial liability is derecognized when the obligation under the liability PPSAS 29.41
is discharged or cancelled or expires.

When an existing financial liability is replaced by another from the same PPSAS 29.43
lender on substantially different terms, or the terms of an existing liability
are substantially modified, such an exchange or modification is treated as a
derecognition of the original liability and the recognition of a new liability,
and the difference in the respective carrying amounts is recognized in
surplus or deficit.

c. Offsetting of financial instruments

Financial assets and financial liabilities are offset and the net amount PPSAS 28.47
reported in the consolidated statement of financial position if, and only if,
there is a currently enforceable legal right to offset the recognized amounts
and there is an intention to settle on a net basis, or to realize the assets and
settle the liabilities simultaneously.

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 d. Fair value of financial instruments

The fair value of financial instruments that are traded in active markets at PPSAS 29.51
each reporting date is determined by reference to quoted market prices or PPSAS 29.10
dealer price quotations (bid price for long positions and ask price for short
positions), without any deduction for transaction costs.

3.4 Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and cash at bank, deposits on PPSAS 2.8
call and highly liquid investments with an original maturity of three months or PPSAS 2.9
less, which are readily convertible to known amounts of cash and are subject to PPSAS 2.56
insignificant risk of changes in value. For the purpose of the consolidated
statement of cash flows, cash and cash equivalents consist of cash and short-
term deposits as defined above, net of outstanding bank overdrafts.

3.5 Inventories

Inventory is measured at cost upon initial recognition. To the extent that PPSAS 12.15
inventory was received through non-exchange transactions (for no cost or for a PPSAS
nominal cost), the cost of the inventory is its fair value at the date of acquisition. 12.17(a)

Costs incurred in bringing each product to its present location and condition are PPSAS 12.16
accounted for, as follows: PPSAS 12.18

 Raw materials: purchase cost using the weighted average cost method

After initial recognition, inventory is measured at the lower of cost and net
realizable value. However, to the extent that a class of inventory is distributed or
deployed at no charge or for a nominal charge, that class of inventory is
measured at the lower of cost and current replacement cost.

Net realizable value is the estimated selling price in the ordinary course of
operations, less the estimated costs of completion and the estimated costs
necessary to make the sale, exchange, or distribution.
PPSAS 12.35
Inventories are recognized as an expense when deployed for utilization or PPSAS 12.20
consumption in the ordinary course of operations of the NCR-Division of Pasig PPSAS 12.21
City.. PPSAS 12.9

3.6 Investment Property

Investment properties are measured initially at cost, including transaction costs. PPSAS 16.26
The carrying amount includes the replacement cost of components of an PPSAS
existing investment property at the time that cost is incurred if the recognition 16.86(a)
criteria are met and excludes the costs of day-to-day maintenance of an
investment property. PPSAS 16.27
PPSAS 16.39
Investment property acquired through a non-exchange transaction is measured PPSAS 16.42
at its fair value at the date of acquisition. Subsequent to initial recognition,
investment properties are measured using the cost model and are depreciated
over its estimated useful life of [number] years.

Investment properties are derecognized either when they have been disposed of PPSAS 16.77
or when the investment property is permanently withdrawn from use and no PPSAS 16.80
future economic benefit or service potential is expected from its disposal. The PPSAS 16.66
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 difference between the net disposal proceeds and the carrying amount of the PPSAS 16.71
asset is recognized in the surplus or deficit in the period of derecognition.

Transfers are made to or from investment property only when there is a change PPSAS 16.74
in use. PPSAS 16.39

The NCR-Division of Pasig City uses the cost model for the measurement of PAG2 of
investment property after initial recognition. PPSAS 16

3.7 Property, Plant and Equipment

Recognition

An item is recognized as property, plant, and equipment (PPE) if it meets the PPSAS 17.13
characteristics and recognition criteria as a PPE.

The characteristics of PPE are as follows: PPSAS 17.14

 tangible items;

 are held for use in the production or supply of goods or services, for
rental to others, or for administrative purposes; and

 are expected to be used during more than one reporting period.

An item of PPE is recognized as an asset if:

 It is probable that future economic benefits or service potential

associated with the item will flow to the entity; and

 The cost or fair value of the item can be measured reliably.

Measurement at Recognition

An item recognized as property, plant, and equipment is measured at cost. PPSAS 17.26

A PPE acquired through non-exchange transaction is measured at its fair value PPSAS 17.27
as at the date of acquisition.

The cost of the PPE is the cash price equivalent or, for PPE acquired through PPSAS 17.37
non-exchange transaction its cost is its fair value as at recognition date.

Cost includes the following: PPSAS 17.30

 Its purchase price, including import duties and non-refundable purchase

taxes, after deducting trade discounts and rebates;

 expenditure that is directly attributable to the acquisition of the items;

and

 initial estimate of the costs of dismantling and removing the item and
restoring the site on which it is located, the obligation for which an
entity incurs either when the item is acquired, or as a consequence of
having used the item during a particular period for purposes other than
to produce inventories during that period.

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Measurement After Recognition PPSAS 17.43
PAG2 of
After recognition, all property, plant and equipment are stated at cost less PPSAS 17
accumulated depreciation and impairment losses.

When significant parts of property, plant and equipment are required to be PPSAS 17.24
replaced at intervals, the Division of Pasig City recognizes such parts as PPSAS 17.25
individual assets with specific useful lives and depreciates them accordingly.
Likewise, when a major repair/replacement is done, its cost is recognized in the
carrying amount of the plant and equipment as a replacement if the recognition
criteria are satisfied.

All other repair and maintenance costs are recognized as expense in surplus or PPSAS 17.23
deficit as incurred.

Depreciation

Each part of an item of property, plant, and equipment with a cost that is PPSAS 17.59
significant in relation to the total cost of the item is depreciated separately.

The depreciation charge for each period is recognized as expense unless it is PPSAS 17.64
included in the cost of another asset.

Initial Recognition of Depreciation

Depreciation of an asset begins when it is available for use such as when it is in PAG3 of
the location and condition necessary for it to be capable of operating in the PPSAS 17
manner intended by management.

For simplicity and to avoid proportionate computation, the depreciation is for

one month if the PPE is available for use on or before the 15th of the month.
However, if the PPE is available for use after the 15th of the month,
depreciation is for the succeeding month.

Depreciation Method

The straight line method of depreciation is adopted unless another method is PAG4 of
more appropriate for agency operation. PPSAS 17

Estimated Useful Life

The Division of Pasig City uses the Schedule on the Estimated Useful Life of PAG5 of
PPE by classification prepared by COA. PPSAS 17

The Division of Pasig City uses a residual value equivalent to at least Ten PAG6 of
percent (10%) of the cost of the PPE for CY 2015. PPSAS 17

Impairment

An asset’s carrying amount is written down to its recoverable amount, or

recoverable service amount, if the asset’s carrying amount is greater than its
estimated recoverable service amount.

Derecognition

The Division Office of Pasig City derecognizes items of property, plant and PPSAS 17.82
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 equipment and/or any significant part of an asset upon disposal or when no PPSAS 17.83
future economic benefits or service potential is expected from its continuing PPSAS 17.86
use. Any gain or loss arising on derecognition of the asset (calculated as the
difference between the net disposal proceeds and the carrying amount of the
asset) is included in the surplus or deficit when the asset is derecognized.

3.8 Employee benefits

The employees of Division Office of Pasig City are member of the Government
Service Insurance System (GSIS) [name of pension plan, if not GSIS], which
provides life and retirement insurance coverage.

The Division Office of Pasig City] recognizes the undiscounted amount of short
term employee benefits, like salaries, wages, bonuses, allowance, etc., as
expense unless capitalized, and as a liability after deducting the amount paid.

The Division of Pasig City recognizes expenses for accumulating compensated

absences when these were paid (commuted or paid as terminal leave benefits).
Unused entitlements that has accumulated at the reporting date were not
recognized as expense. Non-accumulating compensated absences, like special
leave privileges, were not recognized.

3.9 Measurement uncertainty

The preparation of [consolidated] financial statements in conformity with

PPSAS, requires management to make estimates and assumptions that affect the
reporting amounts of assets and liabilities, and disclosure of contingent assets
and liabilities, at the date of the [consolidated] financial statements and the
reported amounts of the revenues and expenses during the period. Items
requiring the use of significant estimates include [enter significant estimates
here, e.g. the useful life of capital assets, estimated employee benefits, rates for
amortization, impairment of assets, liability for contaminated sites, etc.].

Estimates were based on the best information available at the time of

preparation of the [consolidated] financial statements and were reviewed
annually to reflect new information as it becomes available. Measurement
uncertainty exists in these [consolidated] financial statements. Actual results
could differ from these estimates.

4. Changes in Accounting Policies

Division of Pasig City adopted the following new accounting policies:

5. Prior Period Adjustments

The Division of Pasig City has determined that errors of Previous Year/s discovered in the CY.
As a result, [describe change, including peso amount, for each financial statement line item affected
in current and prior year, and cumulative effect on opening accumulated surplus/(deficit) in current
and prior year, and cumulative effect on surplus/deficit in prior year].

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6. Cash and Cash Equivalents

As of December 31,
Accounts 2016
(in thousand pesos)
Cash Collecting Officer 37,250.93
Petty Cash Fund 50,914.04
Cash in Bank-Local Currency 12,678,323.45
Total Cash and Cash Equivalents 12,766,488.42

7. Receivables

7.1 Inter-Agency Receivables

2016
(in thousand pesos)
Accounts
Non-
Current Total
Current
Due from National Government Agencies 0 495,605.42 495,605.42
Due from Officers and Employees 0 1,099,106.06 1,099,106.06
TOTALS 0 1,594,711.48 1,594,711.48

8. Inventories

2016
(in thousand pesos)
Reversal
Inventory of
Inventories Inventories
Accounts write- Inventory
carried at the carried at
down write-
lower of cost fair value
recognized down
and net less cost to
during the recognized
realizable value sell
year during the
year
Inventory Held for Distribution
Carrying Amount, January 1, 2016 22,700.00 0 0 0
Additions/Acquisitions during the year 27,274.00 0 0 0
Expensed during the year except write- 0 0 0
down
Write-down during the year 0 0 0
Reversal of Write-down during the 0 0 0
year
Carrying Amount, December 31, 0 0 0
2016 49,974.00
Inventory Held for Consumption 0 0 0
Carrying Amount, January 1, 2016 4,803,519.26 0 0 0
Additions/Acquisitions during the year 3,701,986.45 0 0 0
Expensed during the year except write- 0 0 0
down 0
Write-down during the year 0 0 0 0
Reversal of Write-down during the 0 0 0
year 0
Carrying Amount, December 31, 0 0 0
2016 8,505,505.71
TOTAL CARRYING AMOUNT, 0 0 0
0
DECEMBER 31, 2016
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 NCR-Division of Pasig City’s inventories were composed of Office, Non-Accountable forms,
Medical and Dental, and Other Supplies Inventories.

Buildings and Furniture,

Land Machinery and
Land Other Fixtures and TOTAL
Improvements Equipment
Structures Books
Carrying Amount,
January 1, 2016 6,262,502.77 0 454,348,832.41 82,707,881.46 45,415,688.24 588,734,904.88
0
Additions/Acquisitions 2,519,754.07 9,405,629.03 793,978.71 12,719,361.81
Total 6,262,502.77 0 456,868,586.48 92,113,510.49 46,209,666.95 4 601,454,266.69
Disposals 0 0 143,479,686.78 59,542,718.44 37,163,336.51 240,185,741.73
Depreciation (As per
Statement of
Financial
Performance) 0 0 905,591.94 60,838.73 966,430.67
Impairment Loss (As per
Statement of
Financial 0
Performance) 0 0 0 0 0
Carrying Amount,
December 31, 2016
(As per Statement of 0
Financial Position) 6,262,502.77 313,388,899.70 31,665,200.11 8,985,491.71 360,302,094.29

Gross Cost (Asset

Account Balance per
Statement of Financial
Position) 6,262,502.77
Less : Accumulated
Depreciation
Allowance for
Impairment 0 0 0 0 0 0
Carrying Amount,
December 31, 2016
(As per Statement of 0
Financial Position) 6,262,502.77
9. Property, Plant and Equipment

[Disclosure of carrying amount of temporarily idle PPE, fully depreciated PPE still in use and PPE
retired from active use and held for disposal, and the fair value of PPE when this is materially
different from the carrying amount]

10. Other Assets

10.1 Current and Non-Current Other Assets

2016
Particulars (in thousand pesos)
Current Non-Current Total
Advances 57,482,875.38 0 57,482,875.38
Prepayments 0 0 0
Deposits 107,790.00 0 107,790.00
Other Assets 0 0 0
TOTALS 57,590,665.38

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11. Financial Liabilities

11.1 Payables

2016 2015
Particulars Non-
Current Current Non-Current
Current
Payables
Accounts Payable 263,598.45 0 0 8,482,763.79
Notes Payable 0 0 0 0
Service Concession Arrangements 0 0
Payable 0 0
Finance Lease Payable 0 0 0 0
Due to Officers and Employees 247,699.21 0 0 0
Guaranty Deposits Payable 1,578,739.84 0 0 0
Other Payables 975,549.96 172,475.90 0 172,475.90
Total Payables 3,065,587.46 172,475.90 0 8,655,239.69

12. Inter-Agency Payables

2016 2015
Particulars
Current Non-Current Current Non-Current
Due to BIR 8,101,740.83 0 5,010,159.51
Due to GSIS 27,491,743.52 0 14,366,769.81
Due to Pag-IBIG 263,606.45 0 253,649.20
Due to PhilHealth 358,523.86 0 176,673.86
Due to NGAs 0 2,934,634.75 0 4,823,064.18
Due to GOCCs 0 0 0 0
Due to LGUs 0 11,052,987.83 0 157,260.55
Due to Regional Office 31,414,048.63 0 0 0
Due to Central Office 0 0 0 1,050.00
Total Inter-Agency Payables 19,807,252.38 4,999,674.73 0 25,003,022.86

13. Service and Business Income

Particulars 2016 2015

Service Income 0 0
Permit Fees 0 0
Registration Fees 0 0
Registration Plates, Tags and Stickers Fees 0 0
Clearance and Certification Fees 0 0
Franchising Fees 0 0
Licensing Fees 0 0
Supervision and Regulation Enforcement Fees 0 0
Spectrum Usage Fees 0 0
Legal Fees 0 0
Inspection Fees 0 0
Verification and Authentication Fees 0 0
Passport and Visa Fees 0 0
Processing Fees 0 0
Fines and Penalties-Service Income 0 0
Other Service Income 3,493,407.44 788,587.34
Business Income 0 0
School Fees 0 0

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 Particulars 2016 2015
Affiliation Fees 0 0
Examination Fees 0 0
Seminar/Training Fees 0 716,270.00
Rent/Lease Income 0 0
Communication Network Fees 0 0
Transportation System Fees 0 0
Road Network Fees 0 0
Waterworks System Fees 0 0
Power Supply System Fees 0 0
Seaport System Fees 0 0
Landing and Parking Fees 0 0
Income from Hostels/Dormitories and Other Like Facilities 0 0
Slaughterhouse Operation 0 0
Income from Printing and Publication 0 0
Sales Revenue 0 0
Less: Sales Discounts 0 0
Net Sales 0 0
Hospital Fees 0 0
Guarantee Income 0 0
Fidelity Insurance Income 0 0
Dividend Income 0 0
Interest Income 0 0
Share in the Profit of Joint Venture 0 0
Fines and Penalties-Business Income 0 0
Other Business Income 1,289,950 0
Total Service and Business Income 4,783,357.44 1,504,857.34

14. Personnel Services

14.1 Salaries and Wages

Particulars 2016 2015

Salaries and Wages-Regular 933,154,934.52 938,346,036.39
Salaries and Wages-Casual/Contractual 1,390,827.19 2,249,083.85
Total Salaries and Wages 934,545,761.71 940,595,120.24

14.2 Other Compensation

Particulars 2016 2015

Personal Economic Relief Allowance (PERA) 87,050,761.69 91,019,355.74
Representation Allowance (RA) 261,208.33 267,000.00
Transportation Allowance (TA) 7,908.28 0
Clothing/Uniform Allowance 18,170,000.00 18,855,000.00
Subsistence Allowance 102,444.25 87,702.69
Laundry Allowance 13,364.55 19,884.67
Quarters Allowance 0 0
Productivity Incentive Allowance 14,934,611.00 6,674,745.00

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 Particulars 2016 2015
Overseas Allowance 0 0
Honoraria 624,448.39 2,520,500.00
Hazard Pay 869,783.82 431,484.79
Longevity Pay 845,000.00 2,430,000.00
Overtime and Night Pay 647,039.02 749,470.66
Year End Bonus 157,328,214.38 78,057,861.50
Cash Gift 18,486,000.00 20,279,685.55
Other Bonuses and Allowances 29,854,748.32 27,259,398.00
Total Other Compensation 329,195,532.03 248,652,088.60

14.3 Employees Future Benefits

The DepEd-NCR Division of Pasig City and its employees contribute to the [e.g., GSIS] in
accordance with the [name of the applicable Act/s]. The [Name of the entity responsible, e.g.
GSIS] administers the plan, including payment of pension benefits to employees to whom the
act applies. [Name of the benefit plan] is a defined contribution plan [name of other plans].
The contribution to the defined contribution plan amounted to [amount of retirement premiums
paid, etc.]

14.4 Personnel Benefit Contributions

Particulars 2016 2015

Life and Retirement Insurance Contributions 110,772,800.04 112,490,220.01
Pag-Ibig Contributions 4,390,525.70 4,922,303.49
Philhealth Contributions 11,814,601.57 10,396,120.36
ECC Contributions 4,375,731.01 5,132,649.98
Total Personnel Benefit Contributions 131,353,658.32 132,941,293.84
,,
14.5 Other Personnel Benefits

Particulars 2016 2015

Pension Benefits 0 0
Retirement Gratuity 0 0
Terminal Leave Benefits 2,085,398.05 5,721,955.54
Other Personnel Benefits 8,978,865.02 9,710,676.76
Total Other Personnel Benefits 11,064,263.07 15,432,632.30

15. Maintenance and Other Operating Expenses

15.1Traveling Expenses

Particulars 2016 2015

Traveling Expenses-Local 1,999,584.64 1,280,397.60
Traveling Expenses-Foreign 0 4,530.00
Total Traveling Expenses 1,999,584.64 1,284,927.60

15.2 Training and Scholarship Expenses

Particulars 2016 2015

Training Expenses 11,657,763.59 6,410,604.92
Scholarship Grants/Expenses 0 0
Total Training and Scholarship Expenses 11,657,763.59 6,410,604.92

15.3 Supplies and Materials Expenses

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 Particulars 2016 2015
Office Supplies Expenses 10,742,183.37 5,952,968.14
Accountable Forms Expenses 73,220.00 70,507.50
Non-Accountable Forms Expenses 0 0
Animal/Zoological Supplies Expenses 0 0
Food Supplies Expenses 27,057.18 43,608.05
Welfare Goods Expenses 0 0
Drugs and Medicines Expenses 123,016.85 327,289.55
Medical, Dental and Laboratory Supplies Expenses 0 3,950
Fuel, Oil and Lubricants Expenses 110,322.68 96,652.00
Agricultural and Marine Supplies Expenses 112,701.12 0
Textbooks and Instructional Materials Expenses 4,516,672.75 628,769.46
Military, Police and Traffic Supplies Expenses 0 0

Chemical and Filtering Supplies Expenses 0 0

Semi-Expendable Machinery and Equipment Expenses 483,230.42 0
Semi-Expendable Furniture, Fixtures and Books
Expenses 141,260.00 0
Other Supplies and Materials Expenses 16,705,870.33 8,979,204.25
Total Supplies and Materials Expenses 33,035,534.70 16,102,948.95

15.4 Utility Expenses

Particulars 2016 2015

Water Expenses 12,583,764.88 9,238,752.30
Electricity Expenses 1,157,577.59 1,366,196.70
Total Utility Expenses 13,741,342.47 10,604,949.00

15.5 Communication Expenses

Particulars 2016 2015

Postage and Courier Services 3,780.20 23,540.00
Telephone Expenses 1,547,229.05 1,093.895.00
Internet Subscription Expenses 1,581,304.94 999,699.60
Cable, Satellite, Telegraph and Radio Expenses 0 4,647.00
Total Communication Expenses 3,132,314.19 2,121,781.60

15.6 Awards/Rewards and Prizes

Particulars 2016 2015

Awards/Rewards Expenses 7,000.00 0
Prizes 0 0
Total Awards/Rewards and Prizes 7,000.00 0

15.7 Confidential, Intelligence and Extraordinary Expenses

Particulars 2016 2015

Confidential Expenses 0 0
Intelligence Expenses 0 0
Extraordinary and Miscellaneous Expenses 13,286.75 4,499.00
Total Confidential, Intelligence and Extraordinary
Expenses 13,286.75 4,499.00

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15.8 Professional Services

Particulars 2016 2015

Legal Services 200.00 0
Auditing Services 0 14,402.54
Consultancy Services 47,692.50 0
Other Professional Services 280,766.40 592,458.58
Total Professional Services 328,658.90 606,861.12

15.9 General Services

Particulars 2016 2015

Environment/Sanitary Services 0 0
Janitorial Services 117,861.80 75,647.87
Security Services 0 0
Other General Services 8,055,475.88 6,015,816.78
Total General Services 8,173,337.68 6,091,464.65

15.10 Repairs and Maintenance

Particulars 2016 2015

Repairs and Maintenance-Investment Property 73,792.00 0
Repairs and Maintenance-Land Improvements 0 0
Repairs and Maintenance-Infrastructure Assets 14,800.00 0
Repairs and Maintenance-Buildings and Other Structures 17,881,004.69 4,163,154.61
Repairs and Maintenance-Machinery and Equipment 829,898.80 333,058.79
Repairs and Maintenance-Transportation Equipment 424,215.92 133,903.87
Repairs and Maintenance-Furniture and Fixtures 191,999.68 236,170.92
Repairs and Maintenance-Leased Assets Improvements 0 0
Restoration and Maintenance-Heritage Assets 0 0
Repairs and Maintenance-Other Property, Plant and
Equipment 38,366.70 44,470.00
Total Repairs and Maintenance Expenses 19,454,077.79 4,910,758.19

15.11Taxes, Insurance Premiums and Other Fees

Particulars 2016 2015

Taxes, Duties and Licenses 0 0
Fidelity Bond Premiums 76,883.50 89,025.00
Insurance Expenses 0 0
Total Taxes, Insurance Premiums and Other Fees 76,883.50 89,025.00

15.12 Labor and Wages

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 Particulars 2016 2015
Labor and Wages 0 265,058.19
Total Labor and Wages 0 265,058.19

15.13 Other Maintenance and Operating Expenses

Particulars 2016 2015

Advertising Expenses 28,892.00 34,160.00
Printing and Publication Expenses 13,519.25 38,159.50
Representation Expenses 71,128.00 12,674.40
Transportation and Delivery Expenses 273,7790.00 4,987.50
Rent/Lease Expenses 0 0
Membership Dues and Contributions to Organizations 0 0
Subscription Expenses 0 6,200.00
Donations 0 0
Litigation/Acquired Assets Expenses 0 0
Other Maintenance and Operating Expenses 12,505,026.99 8,023,999.84
Total Other Maintenance and Operating Expenses 12,892,345.24 8,120,181.24

16. Non-Cash Expenses

16.1 Depreciation 2016

Particulars 2016 2015

Depreciation-Investment Property 0 0
Depreciation-Land Improvements 0 0
Depreciation-Infrastructure Assets 0 0
Depreciation-Buildings and Other Structures 0 8,400,771.01
Depreciation-Machinery and Equipment 905,591.94 2,863,403.93
Depreciation-Transportation Equipment 0 0
Depreciation-Furniture, Fixtures and Books 60,838.73 126,378.31
Depreciation-Heritage Assets 0 0
Depreciation-Other Property, Plant and Equipment 0 6,390.72
Total Depreciation 966,430.67 11,396,943.97

16.2 Amortization

Particulars 2016 2015

Amortization – Intangible Assets 0 0

17. Net Financial Assistance/Subsidy

Financial Assistance/Subsidy from NGAs, LGUs, GOCCs

Particulars 2016 2015

Subsidy from National Government 1,561,593,064.46 1,428,617,570.67
Subsidy from other NGAs 0 18,936,842.16
Assistance from Local Government Units 2,193,884.00 17,234,956.80
Subsidy from Other Funds 0 510,000.00
Total Financial Assistance/Subsidy from NGAs,
LGUs, GOCCs 1,563,786,948.46 1,465,299,369.63

Less: Financial Assistance/Subsidy to NGAs, LGUs, GOCCs, NGOs/Pos

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 Particulars 2016 2015
Financial Assistance to NGAs 10,028,756.01 12,363,553.35
Subsidy to NGAs (for BTr only) 0 956,838.51
Financial Assistance to Local Government Units 0 0
Budgetary Support to GOCCs 0 0
Financial Assistance to NGOs/Pos 0 0
Subsidies-Others 0 0
Total Financial Assistance/Subsidy to NGAs, LGUs, GOCCs 10,028,756.01 13,320,391.86

Net Financial Assistance/Subsidy 1,553,758,192.45 1,451,978,977.77

18. Non-Operating Income, Gain or Losses

18.1 Non-Operating Income/Gain

Particulars 2016 2015

Sale of Garnished/Confiscated/Abandoned/Seized Goods
and Properties 0 0
Gain on Foreign Exchange (FOREX) 0 0
Gain on Sale of Investments 0 0
Gain on Sale of Investment Property 0 0
Gain on Sale of Property, Plant and Equipment 0 0
Gain on Sale of Intangible Assets 0 0
Other Gains 0 0
Total Non-Operating Income/Gain 0 0

18.2 Non-Operating Losses

Particulars 2016 2015

Loss on Foreign Exchange (FOREX) 0 0
Loss on Sale of Investments 0 0
Loss on Sale of Investment Property 0 0
Loss on Sale of Property, Plant and Equipment 0 0
Loss on Sale of Intangible Assets 0 0
Loss on Sale of Assets 0 0
Loss of Assets 0 0
Loss on Guaranty 0 0
Other Losses 0.01 0
Total Non-Operating Losses 0.01 0

19. Reconciliation of Net Cash Flows from Operating Activities to Surplus/(Deficit)

Particulars 2016 2015

Surplus/Deficit for the year 46,903,774.63 47,852,696.70
Non-cash movements
Depreciation 966,430.67 11,396,943.97
Amortization 0 0
Increase in Impairment Losses 0 0
Increase in Payables 0

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 Particulars 2016 2015
Increase in Inventory 0
Gain/losses on sale of property, plant and equipment 0 0
Gain/losses on sale of investments 0 0
Increase in other current assets
Increase in investments due to revaluation 0 0
Increase in receivables 0
Net Cash Flows from Operating Activities 0

20. Key Management Personnel

The key management personnel of the DepEd-NCR Division of Pasig City are Mr. Fredie V.
Avendaño, the Officer-In-Charge of the Schools Division Superintendent, Ms. Marivic R.
Leaño, Officer -In-Charge of the Assistant Schools Division Superintendent and the Chief of the
Curriculum Implementation Division and Schools Governance and Operations division headed
by Ms. Ligaya G. Insigne and Rebecca M. Gallardo, respectively as the chief governing body.

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