TABLE OF CONTENTS

Page

Part I - Financial Statements

- Independent Auditor’s Report on the Financial Statements 1

- Statement of Management’s Responsibility for Financial Statements 3
- Consolidated Statement of Financial Position 4
- Consolidated Statement of Financial Performance 5
- Consolidated Cash Flow Statement 6
- Consolidated Statement of Changes in Net Assets/Equity 7
- Statement of Comparison of Budget and Actual Amounts 8
- Notes to the Financial Statements 10

Part II – Observations and Recommendations 32

Part III - Status of Implementation of Prior Years’ Audit 85

Recommendations

Part IV - Annexes

Annex A-1 - Consolidated Detailed Statement of Financial Position

Annex A-2 - Consolidated Detailed Statement of Financial Performance
Annex A-3 - Consolidated Statement of Cash Flows
Annex A-4 - Consolidated Statement of Changes in Net Assets/Equity
Annex B - Proposed Adjusting Journal Entries
Annex C - Schedule of On-going and Unimplemented Projects