DEPARTMENT OF EDUCATION

CONSOLIDATED STATEMENT OF FINANCIAL POSITION

ALL FUNDS
As at December 31, 2018

Note 2018 2017

(as restated)
ASSETS

Current Assets

Cash and Cash Equivalents 6 ₱ 13,890,417,575.03 ₱ 15,188,372,645.06

Investments 7 9,213,734.09 42,670,668.93
Receivables 8 21,184,917,944.28 18,683,306,887.20
Inventories 9 10,405,239,867.27 8,256,262,327.30
Other Current Assets 10 5,771,460,425.31 6,375,460,161.31
Total Current Assets 51,261,249,545.98 48,546,072,689.80

Non-Current Assets
Investment Property 11 4,334,489.63 4,971,507.20

Property, Plant and Equipment 12 169,570,208,138.44 139,596,870,100.92

Biological Assets 13 2,082,404.00 1,516,892.00

Intangible Assets 14 190,911,807.73 313,730,894.62
Other Non-Current Assets 15 414,799,703.01 417,242,860.77
Total Non Current Assets 170,182,336,542.81 140,334,332,255.51

Total Assets 221,443,586,088.79 188,880,404,945.31

LIABILITIES

Financial Liabilities 16 26,106,054,616.18 36,925,370,816.90

Inter-Agency Payables 17 11,423,331,361.39 11,054,876,052.51
Intra-Agency Payables 18 554,671,019.08 592,662,610.38
Trust Liabilities 19 1,701,083,882.30 1,327,634,408.89
Deferred Credits/Unearned
Income 20 41,505,959.57 23,394,997.29
Provisions 21 19,063,068.67 18,000,000.00
Other Payables 22 7,580,154,997.82 7,398,650,433.74

Total Liabilities 47,425,864,905.01 57,340,589,319.71

Total Assets Less Total Liabilities 174,017,721,183.78 131,539,815,625.60

NET ASSETS/EQUITY

Accumulated Surplus/Deficit 174,017,721,183.78 131,539,815,625.60

Total Net Assets/Equity p 174,017,721,183.78 p 131,539,815,625.60

0.00 0.00

This statement should be read in conjunction with the accompanying notes.

5
 DEPARTMENT OF EDUCATION
CONSOLIDATED STATEMENT OF FINANCIAL PERFORMANCE
ALL FUNDS
For the Year Ended December 31, 2018

Note 2018 2017

(as restated)
REVENUE

Service Income and

Business Income
Shares, Grants and 23 ₱ 1,626,599,362.79 ₱ 1,369,531,087.18
24 368,417,232.89 1,896,299,528.49
Donations
Gains 25 282,353.00 59,590.00
Miscellaneous Income 26 66,560,220.19 40,520,071.53
Total Revenue 2,061,859,168.87 3,306,410,277.20

Less: Current Operating Expenses

Personnel Services 27 375,000,861,312.21 324,769,400,819.88
Maintenance and Other 28 40,502,698,474.99 37,202,988,940.87
Operating Expenses
Financial Expenses 29 1,691,786.81 1,776,959.11
Non Cash Expenses 30 5,585,089,323.30 5,299,573,841.49
Current Operating Expenses 421,090,340,897.31 367,273,740,561.35

Surplus (Deficit) from Current (419,028,481,728.44) (363,967,330,284.15)

Operations

Net Financial Assistance/ 31 455,541,670,823.35 367,965,414,178.17

Subsidy
Sales of Assets 32.1 302,735.09 982,408.57
Gains 32.2 7,126,646.81 10,200,708.27
Losses 32.3 (2,466,399.06) (1,941,785.46)

Surplus/(Deficit) for the Period ₱ 36,518,152,077.75 ₱ 4,007,325,225.40

This statement should be read in conjunction with the accompanying notes.

6
 DEPARTMENT OF EDUCATION
CONSOLIDATED STATEMENT OF CHANGES IN NET ASSETS/EQUITY
ALL FUNDS
For the Year Ended December 31, 2018

2018 2017
(as restated)

Balance at January 1 ₱ 131,539,815,625.60 ₱ 131,501,787,753.01

Changes in accounting policy (25,235,451.28) 180,714,221.25
Prior period errors 3,422,166,671.97 2,287,106,676.49
Other Adjustments 4,545,906,936.13 (3,046,293,090.88)
Restated Balance 139,482,653,782.42 130,923,315,559.87

Changes in Net Assets/Equity

for the Calendar Year
Surplus for the period 36,518,152,077.75 4,007,325,225.40
Adjustment of net revenue (222,830,945.60) (249,784,288.62)
recognized directly in net
assets/equity 1
Others 2 (1,760,253,730.79) (3,141,040,871.05)
Total recognized revenue and 34,535,067,401.36 616,500,065.73
expense for the period

Balance at December 31 ₱ 174,017,721,183.78 ₱ 131,539,815,625.60

0.00 (0.00)

*1 - Net revenue deposited with the National Treasury (revenue including constructive receipt of income by Foreign Based

Agencies and income remitted by agencies thru TRA) - Closing of Cash- Treasury/Agency Deposit, Regular Account

*2 - Direct adjustments to Net Assets/Equity which are not revenues or expenses (e.g. transfer of PPE from one unit of the

agency to another directly charged to Accumulated Surplus/(Deficit)) - Transfer of accountability of PPE to Operating Units

This statement should be read in conjunction with the accompanying notes.

7
 DEPARTMENT OF EDUCATION
CONSOLIDATED STATEMENT OF CASH FLOWS
ALL FUNDS
For the Year Ended December 31, 2018

2017
Note 2018 (as restated)

Cash Flows From Operating Activities

Cash Inflows
Receipt of Notice of Cash
Allocation 33 ₱ 494,292,742,769.65 ₱ 432,943,223,502.99
Collection of Income/Revenues 1,410,658,904.40 741,215,898.86
Receipt of Assistance and
Subsidy from Other NGAs,
LGUs and GOCCs 259,751,041.20 302,026,560.36
Collection of Receivables 9,077,164,321.20 20,235,192,482.14
Receipt of Inter-Agency Fund
Transfers 183,245,572.72 5,575,727,591.69
Receipt of Intra-Agency Fund
Transfers 96,619,316,781.51 104,433,952,231.67
Trust Receipts 769,778,392.77 823,809,315.00
Other Cash Receipts 1,210,099,187.55 1,581,608,794.77
Adjustments 2,284,886,607.73 2,195,313,846.78
Total Cash Inflows 606,107,643,578.73 568,832,070,224.26

Cash Outflows
Replenishment of Negotiated
MDS Checks (for BTr) -
Remittance to the National Treasury 1,158,206,571.14 848,183,026.86
Payment of Expenses 307,615,423,028.25 255,822,361,354.40
Purchase of Inventories 1,493,337,707.69 1,288,729,615.51
Purchase of Consumable Biological Assets 6,495,918.87 -
Grant of Cash Advances 9,590,728,048.14 14,619,909,554.27
Prepayments 243,199,048.72 220,066,474.16
Refund of Deposits 126,311,087.18 70,221,453.59
Payment of Accounts Payables 19,088,130,662.25 11,414,012,732.54
Remittance of Personnel
Benefit Contributions and
Mandatory Deductions 142,100,134,165.98 164,585,540,890.33
Grant of Financial Assistance/Subsidy 1,025,354,943.27 614,898,121.37
Release of Inter-Agency Fund Transfers 11,489,734,924.22 9,964,485,273.10
Release of Intra- Agency Fund Transfers 75,836,006,327.32
### 56,080,414,017.25
Other Disbursements 2,691,821,540.77 4,432,026,332.33
Reversal of unused NCA 34 12,973,769,966.47 26,233,758,794.11
Adjustments 1,680,706,594.92 16,052,011,659.20
Total Cash Outflows 587,119,360,535.19 562,246,619,299.01

8
 2017
Note 2018 (as restated)

Net Cash Provided by Operating Activities 18,988,283,043.54 6,585,450,925.25

Cash Flows from Investing Activities

Cash Inflows
Proceeds from Sale/Disposal
of Property, Plant and Equipment 235,230.00 -
Total Cash Inflows 235,230.00 -

Cash Outflows
Purchase/Construction of
Investment Property 1,285,252.88 -
Purchase/Construction of
Property, Plant and Equipment 17,552,202,080.94 3,768,781,529.70
Purchase of Bearer Biological Assets 29,125.00
Purchase of Intangible Assets 3,109.80 -
Grant of Loans 2,732,982,899.95 1,622,197,150.31
Total Cash Outflows 20,286,473,343.57 5,391,007,805.01

Net Cash Provided by Investing (20,286,238,113.57) (5,391,007,805.01)

Activities

Cash Flows from Financing Activities

Cash Inflows
Proceeds from insurance of bills
and bonds 978,767.76
Total Cash Inflows - 978,767.76

Cash Outflows
Redemption of Bills/Bonds Issued 279,784.00
Total Cash Outflows 279,784.00

Net Cash Provided by Financing - 698,983.76

Activities

Increase (Decrease) in Cash and Cash (1,297,955,070.03) 1,195,142,104.00

Equivalents

Cash and Cash Equivalents, January 1 15,188,372,645.06 13,993,230,541.06

Cash and Cash Equivalents, December 31 ₱ 13,890,417,575.03 ₱ 15,188,372,645.06

9
 2017
Note 2018 (as restated)

This statement should be read in conjunction with the accompanying notes.

10
 DEPARTMENT OF EDUCATION
CONSOLIDATED STATEMENT OF CASH FLOWS
ALL FUNDS
For the Year Ended December 31, 2018

2017
Note 2018 (as restated)

Cash Flows From Operating Activities

Cash Inflows
Receipt of Notice of Cash
Allocation 33 ₱ 494,292,742,769.65 ₱ 432,943,223,502.99
Collection of Income/Revenues 1,410,658,904.40 741,215,898.86
Receipt of Assistance and
Subsidy from Other NGAs,
LGUs and GOCCs 259,751,041.20 302,026,560.36
Collection of Receivables 9,077,164,321.20 20,235,192,482.14
Receipt of Inter-Agency Fund
Transfers 183,245,572.72 5,575,727,591.69
Receipt of Intra-Agency Fund
Transfers 96,619,316,781.51 104,433,952,231.67
Trust Receipts 769,778,392.77 823,809,315.00
Other Cash Receipts 1,210,099,187.55 1,581,608,794.77
Adjustments 2,284,886,607.73 2,195,313,846.78
Total Cash Inflows 606,107,643,578.73 568,832,070,224.26

Cash Outflows
Replenishment of Negotiated
MDS Checks (for BTr) -
Remittance to the National Treasury 1,158,206,571.14 848,183,026.86
Payment of Expenses 307,615,423,028.25 255,822,361,354.40
Purchase of Inventories 1,493,337,707.69 1,288,729,615.51
Purchase of Consumable Biological Assets 6,495,918.87 -
Grant of Cash Advances 9,590,728,048.14 14,619,909,554.27
Prepayments 243,199,048.72 220,066,474.16
Refund of Deposits 126,311,087.18 70,221,453.59
Payment of Accounts Payables 19,088,130,662.25 11,414,012,732.54
Remittance of Personnel
Benefit Contributions and
Mandatory Deductions 142,100,134,165.98 164,585,540,890.33
Grant of Financial Assistance/Subsidy 1,025,354,943.27 614,898,121.37
Release of Inter-Agency Fund Transfers 11,489,734,924.22 9,964,485,273.10
Release of Intra- Agency Fund Transfers 75,836,006,327.32
### 56,080,414,017.25
Other Disbursements 2,691,821,540.77 4,432,026,332.33
Reversal of unused NCA 34 12,973,769,966.47 26,233,758,794.11
Adjustments 1,680,706,594.92 16,052,011,659.20
Total Cash Outflows 587,119,360,535.19 562,246,619,299.01

8
 2017
Note 2018 (as restated)

Net Cash Provided by Operating Activities 18,988,283,043.54 6,585,450,925.25

Cash Flows from Investing Activities

Cash Inflows
Proceeds from Sale/Disposal
of Property, Plant and Equipment 235,230.00 -
Total Cash Inflows 235,230.00 -

Cash Outflows
Purchase/Construction of
Investment Property 1,285,252.88 -
Purchase/Construction of
Property, Plant and Equipment 17,552,202,080.94 3,768,781,529.70
Purchase of Bearer Biological Assets 29,125.00
Purchase of Intangible Assets 3,109.80 -
Grant of Loans 2,732,982,899.95 1,622,197,150.31
Total Cash Outflows 20,286,473,343.57 5,391,007,805.01

Net Cash Provided by Investing (20,286,238,113.57) (5,391,007,805.01)

Activities

Cash Flows from Financing Activities

Cash Inflows
Proceeds from insurance of bills
and bonds 978,767.76
Total Cash Inflows - 978,767.76

Cash Outflows
Redemption of Bills/Bonds Issued 279,784.00
Total Cash Outflows - 279,784.00

Net Cash Provided by Financing - 698,983.76

Activities

Increase (Decrease) in Cash and Cash (1,297,955,070.03) 1,195,142,104.00

Equivalents

Cash and Cash Equivalents, January 1 15,188,372,645.06 13,993,230,541.06

Cash and Cash Equivalents, December 31 ₱ 13,890,417,575.03 ₱ 15,188,372,645.06

This statement should be read in conjunction with the accompanying notes.

9
 DEPARTMENT OF EDUCATION
STATEMENT OF COMPARISON OF BUDGET AND ACTUAL AMOUNT
For the Year Ended December 31, 2018

Budgeted Amount Actual Amounts on Difference

Particulars
Original Final Comparable Basis Final Budget and Actual

RECEIPTS Notes
Tax Revenue 3.13 & 3.15 2,895.00 2,895.00 2,895.00 -
Services and Business Income 3.14 & 3.15 131,097,156.53 131,097,156.53 618,598,187.98 (487,501,031.45)
Assistance and Subsidy 3.13 & 3.15 - - - -
Shares, Grants and Donations 3.13 & 3.15 - - - -
Gains 3.13 & 3.15 118,428.00 118,428.00 1,550,441.98 (1,432,013.98)
Others 3.15 47,852,193.00 47,852,193.00 200,422,532.28 (152,570,339.28)
Total Receipts 179,070,672.53 179,070,672.53 820,574,057.24 (641,503,384.71)

PAYMENTS
Personnel Services 3.15 380,102,047,000.00 400,586,995,996.00 369,509,601,209.75 31,077,394,786.25
Maintenance and Other 76,857,396,000.00 76,855,153,241.00 57,496,143,931.62 19,359,009,309.38
3.15
Operating Expenses
Capital Outlay 3.15 122,459,667,000.00 33,898,259,049.00 10,920,886,489.72 22,977,372,559.28
Financial Expenses 3.15 - - - -
Others - - - -
Total Receipts 579,419,110,000.00 511,340,408,286.00 437,926,631,631.09 73,413,776,654.91

NET RECEIPTS/PAYMENT (579,240,039,327.47) (511,161,337,613.47) (437,106,057,573.85) (74,055,280,039.62)

Note 3.13, 3.14-3.15: Based from GAARD 2017(Original Budgeted Amounts - Receipts & Payments)
3.13, 3.14-3.15: Based from No. FAR 1/1A - (Final Budgeted Amounts - Receipts Far 5. Column 3-Revenue Target/Payments - FAR 1, Col 5
Adjusted Appropriation)

Note: 3.13, 3.14-3.15: Based from FAR No. 5 (Actual Receipts)

3.15: Based from No. FAR 1/1A-(Actual Payments)

10