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Numbers Sheet Name Numbers Table Name Excel Worksheet Name

Closing Entries
Table 1 Closing Entries
Post Closing Trial Balance
Table 1 Post Closing Trial Balance
Statement of Financial
Performance
Table 1 Statement of Financial Performa
Statement of Financial Position
Table 1 Statement of Financial Position
 Table 1

CLOSING ENTRIES
1. TO CLOSE INCOME ACCOUNT
1.a Subsidy from National Government 11,915,000.00 REVENUE AND EXPENSE SUMMARY

Revenue and Expense Summary 11,915,000.00 2.a 3,818,553.32 11,915,000.00 1.a

2.b 1,003,301.98 11,820,950.00 1.b
1.b Subsidy from Central Office 11,820,950.00 2.c 833,465.11
Revenue and Expense Summary 11,820,950.00 2 20,015.00
2.e 253,217.15
TOTAL CREDIT REVENUE & EXPENSE SUMMARY 23,735,950.00 2.f 264,790.00
2.g 3,500.00
2h 73,618.17
2. TO CLOSE EXPENSES 2.i 207,221.87
2.a Revenue and Expense Summary 3,818,553.32 2.j 2,965,227.11
Traveling Expenses-Local 3,818,553.32 2.k 97,325.76

2.l 1,628,786.23
2.b Revenue and Expense Summary 1,003,301.98 2m 354,456.00
Training Expenses 1,003,301.98 2.n 11,880.00
2.o 117,600.00
2.c Revenue and Expense Summary 833,465.11 2.p 310,496.66
Office Supplies Expenses 833,465.11 2.q 4,526,103.34
2.r 944,488.06
2 Revenue and Expense Summary 20,015.00 2s 844,779.67
Medical, Dental and Laboratory Supplies Expenses 20,015.00 2.t 30,010.00
2.u 256,433.05
2.e Revenue and Expense Summary 253,217.15 2.v 22,460.32
Fuel, Oil and Lubricants Expenses 253,217.15 2.w 60,000.00
2.x 1,045,507.65
2.f Revenue and Expense Summary 264,790.00 2.y 3,288.00
Semi-Expendable Machinery and Equipment Expenses 264,790.00 2.z 1,443,942.00
2.aa 27,246.00
2.g Revenue and Expense Summary 3,500.00 2.bb 2,179,372.75
Semi-Expendable Furniture, Fixtures and Books Expenses 3,500.00 2.cc 4,269,351.75
2.dd 1,778,017.71
2h Revenue and Expense Summary 73,618.17 2.ee 51,101.28
Other Supplies and Materials Expenses 73,618.17 29,445,555.94 23,735,950.00

5,709,605.94

2.i Revenue and Expense Summary 207,221.87

Water Expenses 207,221.87

2.j Revenue and Expense Summary 2,965,227.11 ACCUMULATED SURPLUS (DEFICIT)

Electricity Expenses 2,965,227.11 5,709,605.94 136,514,209.15

130,804,603.21

2.k Revenue and Expense Summary 97,325.76

Postage and Courier Services 97,325.76

2.l Revenue and Expense Summary 1,628,786.23

Telephone Expenses - Landline 1,628,786.23

2m Revenue and Expense Summary 354,456.00

Internet Subscription Expenses 354,456.00

2.n Revenue and Expense Summary 11,880.00

Cable, Satellite, Telegraph and Radio Expenses 11,880.00

2.o Revenue and Expense Summary 117,600.00

Extraordinary and Miscellaneous Expenses 117,600.00

2.p Revenue and Expense Summary 310,496.66

Janitorial Services 310,496.66

2.q Revenue and Expense Summary 4,526,103.34

Security Services 4,526,103.34

2.r Revenue and Expense Summary 944,488.06

Other General Services 944,488.06

2s Revenue and Expense Summary 844,779.67

Repairs and Maintenance - Buildings and Other Structures 844,779.67

2.t Revenue and Expense Summary 30,010.00

Repairs and Maintenance - Machinery and Equipment 30,010.00

2.u Revenue and Expense Summary 256,433.05

Repairs and Maintenance - Transportation Equipment 256,433.05

2.v Revenue and Expense Summary 22,460.32

Taxes, Duties and Licenses 22,460.32

14 Revenue and Expense Summary 60,000.00

 Table 1

Fidelity Bond Premiums 60,000.00

2.x Revenue and Expense Summary 1,045,507.65

Insurance Expenses 1,045,507.65

2.y Revenue and Expense Summary 3,288.00

Printing and Publication Expenses 3,288.00

2.z Revenue and Expense Summary 1,443,942.00

Representation Expenses 1,443,942.00

2.aa Revenue and Expense Summary 27,246.00

Subscription Expenses 27,246.00

2.bb Revenue and Expense Summary 2,179,372.75

Other Maintenance and Operating Expenses 2,179,372.75

2.cc Revenue and Expense Summary 4,269,351.75

Depreciation - Buildings and Other Structures 4,269,351.75

2.dd Revenue and Expense Summary 1,778,017.71

Depreciation - Machinery and Equipment 1,778,071.71

2.ee Revenue and Expense Summary 51,101.28

Depreciation - Furniture, Fixtures and Books 51,101.28

TOTAL DEBIT REVENUE & EXPENSE SUMMARY 29,445,555.94

DEBIT BALANCE OF REVENUE & EXPENSE SUMMARY 5,709,605.94

3. TO CLOSE THE BALANCE OF REVENUE & EXPENSE SUMMARY

Accumulated Surplus (Deficit) 5,709,605.94
Revenue and Expense Summary 5,709,605.94

4. TO CLOSE DEPOSIT ACCOUNT

Accumulated Surplus (Deficit) 130,804,603.21
Cash - Treasury/Agency Deposit, Regular 130,804,603.21
 Table 1

POST CLOSING TRIAL BALANCE

ACCOUNT TITLE ACCOUNT CODE DEBIT CREDIT

Petty Cash 10101020 14,600.49

Cash in Bank - Local Currency Current Account 10102020 14,130,873.89
Cash - Treasury/Agency Deposit Regular 10303010 130,804,603.21
Due from National Government Agencies 10305990 22,091.40
Other Receivables 10404010 24,770.16
Office Supplies Inventory 10404130 816,977.63
Construction Materials Inventory 10405070 163,716.09
Semi-Expendable Communications Equipment 10601010 3,400.00
Land 10604010 3,672,400.00
Buildings 10604010 120,427,445.92
Accumulated Depreciation - Buildings 10604011 27,370,242.65
Hostels and Dormitories 10604060 23,286,350.95
Accumulated Depreciation - Hostels and Dormitories 10604061 7,660,609.31
Other Structures 10604990 7,092,216.74
Accumulated Depreciation - Other Structures 10604991 1,229,074.78
Office Equipment 10605020 4,649,334.50
Accumulated Depreciation - Office Equipment 10605021 2,480,495.75
Information and Communication Technology and Equipment 10605030 17,104,435.92
Accumulated Depreciation - Information and Communication Technology and 10605031 14,414,462.21
Equipment
Communication Equipment 10605070 1,014,109.77
Accumulated Depreciation - Communication Equipment 10605071 779,720.50
Printing Equipment 10605120 266,650.00
Accumulated Depreciation - Printing Equipment 10605121 234,569.32
Sports Equipment 10605130 19,998.00
Accumulated Depreciation - Sports Equipment 10605031 18,565.00
Technical and Specific Equipment 10605140 444,986.50
Accumulated Depreciation - Technical and Specific Equipment 10605141 282,387.43
Other Machinery and Equipment 10605990 3,149,178.65
Accumulated Depreciation - Other Machinery and Equipment 10605991 2,952,984.80
Motor Vehicles 10606010 4,888,825.00
Accumulated Depreciation - Motor Vehicles 10606011 4,399,942.50
Furnitures and Fixtures 10607010 742,636.80
Accumulated Depreciation - Furnitures and Fixtures 10607011 575,855.56
Books 10607020 19,125.00
Accumulated Depreciation - Books 10607021 17,212.50
Other Property, Plant and Equipment 10699990 216,000.00
Accumulated Depreciation - Other Property, Plant and Equipment 10699991 194,400.00
Prepaid Insurance 19902050 592,354.68
Guaranty Deposits 19903020 641,741.54
Other Assets 19999990 5,795.00
Accounts Payable 20101010 1,047,120.93
Due to Officers and Employees 20101020 680,650.73
Due to BIR 20201010 43,800.40
Due to GOCCs 20101060 41,716.82
 Table 1

Due to Central Office 20301010 504.47

Guaranty/Security Deposits Payable 20401040 72,574.06
Other Payables 29999990 8,108,521.70

TOTAL 203,410,014.63 203,410,014.63

 Table 1

Regional Office No. XI

Statement of Financial Performance
For the Year Ended December 31, 2017

Revenue
Subsidy from National Government 11,915,000.00
Subsidy from Central Office 11,820,950.00
Total Revenue 23,735,950.00

Less: Current Operating Expenses

Maintenance and Other Operating Expenses 23,347,085.20
Non-Cash Expenses 6,098,524.74

Surplus (Deficit) from Current Operations

Surplus (Deficit for the Period)

 Regional Office No. XI
Statement of Financial Position
As of December 31, 2017

ASSETS

Current Assets NOTE

Cash and Cash Equivalents 2.2,3 14,145,474.38
Receivables 4 46,861.56
Inventories 5 984,093.72

Total Current Assets 15,176,429.66

Non-Current Assets
Property, Plant and Equipment 6 124,383,171.44
Other Non-Current Assets 7 1,239,891.22

Total Non-Current Assets 125,623,062.66

TOTAL ASSETS 140,799,492.32

LIABILITIES
Current Liabilities
Financial Liabilities
Inter-Agency Payables
Intra-Agency Payables
8 1,727,771.66
9 85,517.22
504.47

Total Current Liabilities 1,813,793.35

Non-Current Liabilities

Trust Liabilities 72,574.06

Other Payables 8,108,521.70

Total Non-Current Liabilities 8,181,095.76

TOTAL LIABILITIES 9,994,889.11

TOTAL ASSETS LESS TOTAL LIABILITIES 130,804,603.21

NET ASSETS/ EQUITY

Accumulated Surplus/(Deficit) 130,804,603.21
Total Net Assets/ Equity 130,804,603.21
 Regional Office No. XI
Notes to Consolidated Financial Statements
For the Year ended December 31, 2017

NOTE 1
Statement of Compliance and basis of Preparation of Consolidated Financial Statements
The consolidated financial statements have been prepared in accordance with and comply with the Philippine Public Sector issued by the Commission on Audit (COA) per
COA Resolution No. 2014-003 dated January 24, 2014.

The consolidated financial statements were prepared on the basis of historical cost, unless stated otherwise

NOTE 2
Summary of Significant Accounting Policies
2.1 Basis of accounting
The consolidated financial statements are prepared on an accrual basis in accordance with the PPSAS.

2.2 Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and cash in bank.

NOTE 3
Cash and Cash Equivalents
Accounts Amount
Petty Cash 14,600.49
Cash in Bank - Local Currency Current Account 14,130,873.89
Total 14,145,474.38

NOTE 4
Receivables
Due from National Government Agencies 22,091.40
Other Receivables 24,770.16
Total 46,861.56

NOTE 5
Inventories
Office Supplies Inventory 816,977.63
Construction Materials Inventory 163,716.09
Semi-Expendable Communications Equipment 3,400.00
Carrying Amount, Dec. 31 984,093.72

NOTE 6
Property, Plant, and Equipment
Land 3,672,400.00

Building and Other Structures

Buildings 120,427,445.92
Accumulated Depreciation - Buildings 27,370,242.65 93,057,203.27

Hostels and Dormitories 23,286,350.95

Accumulated Depreciation - Hostels and Dormitories 7,660,609.31 15,625,741.64

Other Structures 7,092,216.74

Accumulated Depreciation - Other Structures 1,229,074.78 5,863,141.96

Machinery and Equipment

Office Equipment 4,649,334.50

Accumulated Depreciation - Office Equipment 2,480,495.75 2,168,838.75

Information and Communication Technology and Equipment 17,104,435.92

Accumulated Depreciation - Information and Communication 14,414,462.21 2,689,973.71
Technology and Equipment

Communication Equipment 1,014,109.77

Accumulated Depreciation - Communication Equipment 779,720.50 234,389.27

Printing Equipment 266,650.00

Accumulated Depreciation - Printing Equipment 234,569.32 32,080.68

Sports Equipment 19,998.00

Accumulated Depreciation - Sports Equipment 18,565.00 1,433.00

Technical and Specific Equipment 444,986.50

Accumulated Depreciation - Technical and Specific Equipment 282,387.43 162,599.07

Other Machinery and Equipment 3,149,178.65

Accumulated Depreciation - Other Machinery and Equipment 2,952,984.80 196,193.85

Transportation Equipment

Motor Vehicles 4,888,825.00

Accumulated Depreciation - Motor Vehicles 4,399,942.50 488,882.50

Furnitures, Fixtures and Books

Furnitures and Fixtures 742,636.80
Accumulated Depreciation - Furnitures and Fixtures 575,855.56 166,781.24

Books 19,125.00
Accumulated Depreciation - Books 17,212.50 1,912.50

Other Property, Plant, and Equipment

Other Property, Plant and Equipment 216,000.00

Accumulated Depreciation - Other Property, Plant and 194,400.00 21,600.00
Equipment

Total Property. Plant and Equipment 124,383,171.44

NOTE 7
Non-Current Assets
Prepayments:
Prepaid Insurance 592,354.68
Deposit:
Guaranty Deposits 641,741.54
Other Assets 5,795.00

Total Non-Current Assets 1,239,891.22

LIABILITIES

NOTE 8
Financial Liabilities
Current
Accounts Payable 1,047,120.93
Due to officers and Emloyees 680,650.73

Total Current Financial Liabilities 1,727,771.66

NOTE 9
Inter-Agency Payables
Current
Due to BIR 43,800.40
Due to GOCCs 41,716.82

Total Inter-Agency Payables 85,517.22

NOTE 10
Maintenance and Other Operating Expenses
Traveling Expenses-Local 3,818,553.32
Training Expenses 1,003,301.98
Office Supplies Expenses 833,465.11
Medical, Dental and Laboratory Supplies Expenses 20,015.00
Fuel, Oil and Lubricants Expenses 253,217.15
Semi-Expendable Machinery and Equipment Expenses 264,790.00
Semi-Expendable Furniture, Fixtures and Books Expenses 3,500.00
Other Supplies and Materials Expenses 73,618.17
Water Expenses 207,221.87
Electricity Expenses 2,965,227.11
Postage and Courier Services 97,325.76
Telephone Expenses - Landline 1,628,786.23
Internet Subscription Expenses 354,456.00
Cable, Satellite, Telegraph and Radio Expenses 11,880.00
Extraordinary and Miscellaneous Expenses 117,600.00
Janitorial Services 310,496.66
Security Services 4,526,103.34
Other General Services 944,488.06
Repairs and Maintenance - Buildings and Other Structures 844,779.67
Repairs and Maintenance - Machinery and Equipment 30,010.00
Repairs and Maintenance - Transportation Equipment 256,433.05
Taxes, Duties and Licenses 22,460.32
Fidelity Bond Premiums 60,000.00
Insurance Expenses 1,045,507.65
Printing and Publication Expenses 3,288.00
Representation Expenses 1,443,942.00
Subscription Expenses 27,246.00
Other Maintenance and Operating Expenses 2,179,372.75

Total Maintenance and Other Operating Expenses 23,347,085.20

NOTE 11
Non-Cash Expenses

Depreciation - Buildings and Other Structures 4,269,351.75

Depreciation - Machinery and Equipment 1,778,071.71
Depreciation - Furniture, Fixtures and Books 51,101.28

Total Non-Cash Expenses 6,098,524.74