MARIKINA POLYTECHNIC COLLEGE

STATEMENT OF FINANCIAL POSITION

(ALL FUNDS)
AS AT DECEMBER 31, 2021
(In Philippine Peso)

Note 2021 2020 As Restated

ASSETS
Current Assets
Cash and Cash Equivalents 5 181,020,745.54 154,917,667.27
Receivables 6 21,290,002.61 19,496,457.56
Inventories 7 24,255,936.25 14,842,939.09
Other Current Assets 8 7,931,767.69 11,247,686.85
Total Current Assets 234,498,452.09 200,504,750.77

Non- Current Assets

Property, Plant and Equipment (Net) 9 271,625,608.14 264,089,791.89
Intangible Assets, Net 10 2,174,982.71
Total Non - Current Assets 273,800,590.85 264,089,791.89

Total Assets 508,299,042.94 464,594,542.66

LIABILITIES
Current Liabilities
Financial Liabilities 11 6,329,472.73 7,617,440.48
Inter-Agency Payables 12 27,421,183.75 2,109,678.74
Trust Liabilities 13 1,177,991.44 615,456.45
Other Payables 14 (136,599.87) (186,894.87)
Total Current Liabilites 34,792,048.05 10,155,680.80

Total Liabilities 34,792,048.05 10,155,680.80

TOTAL ASSETS LESS TOTAL LIABILITIES 473,506,994.89 454,438,861.86

NET ASSETS/ EQUITY

Accumulated Surplus/(Deficit) 473,506,994.90 454,438,861.86
TOTAL NET ASSETS/ EQUITY 473,506,994.90 454,438,861.86

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

5
 MARIKINA POLYTECHNIC COLLEGE
STATEMENT OF FINANCIAL PERFORMANCE
(ALL FUNDS)
FOR THE YEAR ENDED DECEMBER 31, 2021
(In Philippine Peso)

Note 2021 2020 As Restated

Service and Busines Income
Service Income 15.1 1,137,430.87 1,106,660.00
Business Income 15.2 39,977,380.47 36,925,874.00
Other Business Income 15.3 212,525.08 391,016.46
Shares, Grants and Donations - 300,000.00
Other Non-Operating Income 280.00
Total Service and Business Income 41,327,616.42 38,723,550.46

Less: Current Operating Expenses

Personnel Services 17 130,856,235.91 116,482,489.80
Maintenance and Other Operating Expenses 18 28,047,696.01 26,670,329.15
Financial Expenses 19 545.00 0.00
Non-Cash Expenses 20 10,765,615.46 9,836,905.70
Total Current Operating Expenses 169,670,092.38 152,989,724.65

Surplus (Deficit from Current Operations) (128,342,475.96) (114,266,174.19)

Net Financial Assistance/Subsidy 23 147,410,609.00 127,823,380.61

Surplus (Deficit) for the Period 19,068,133.04 13,557,206.42

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

6
 MARIKINA POLYTECHNIC COLLEGE
STATEMENT OF CHANGES IN NET ASSETS/EQUITY
(ALL FUNDS)
FOR THE YEAR ENDED DECEMBER 31, 2021
(In Philippine Peso)

Note 2021 2020 As Restated

Balance at January 1 454,438,861.86 450,862,088.88

Changes in Accounting Policy
Prior Period Adjustments/Unrecorded Income and
Expenses 24 (9,980,433.44)
Restated Balance 454,438,861.86 440,881,655.44
Add/ Deduct
Adjustment of net revenue recognized directly in net
assets/equity 1

Surplus/(Deficit) for the Period 19,068,133.04 13,557,206.42

Balance, December 31 473,506,994.90 454,438,861.86

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

7
 MARIKINA POLYTECHNIC COLLEGE
STATEMENT OF CASH FLOWS
(ALL FUNDS)
FOR THE YEAR ENDED DECEMBER 31, 2021
(In Philippine Peso)

Note 2021 2020

CASH FLOWS FROM OPERATING ACTIVITIES
Cash Inflows
Receipt of Notice of Cash Allocation 23 147,410,609.00 127,823,380.61
Collection of Income/Revenues 22.1 66,327,299.42 38,723,550.47
Collection of Receivables 22.1 20,935,072.50 16,205,863.63
Receipt of Trust Liabilities 22.1 683,000.25 572,224.19
Other Receipts 22.1 - 1,050,600.00
Adjustments 22.1.1 (20,668,651.00) (19,541,490.82)
Total Cash Inflows 214,687,330.17 164,834,128.08
Cash Outflows
Remittance to National Treasury 22.2 - 45,517.99
Payment of operating expenses 22.2 159,027,614.03 143,192,137.95
Purchase of Inventories 22.2 11,412,410.52 5,680,794.34
Grant of Cash Advances (Unliquidated During the Year) 22.2 (822,292.61) (1,386,714.84)
Prepayments 22.2 1,720,106.00 1,371,677.00
Payment of Prior Year's Accounts Payable 22.2 5,278,336.73 6,320,872.68
Remittance of Personnel Benefit Contributions and
Mandatory Deductions 22.2 29,886,938.33 29,649,977.83
Adjustments 22.2.1 (30,474,808.63) (33,247,841.85)
Total Cash Outflows 176,028,304.37 151,626,421.10

Net Cash Provided by (Used in) Operating Activities 38,659,025.80 13,207,706.98

CASH FLOWS FROM INVESTING ACTIVITIES
Cash Inflows - -
Total Cash Inflows
Cash Outflows
Purchase/Construction of Property, Plant and Equipment 22.3 61,429,828.85 70,456,815.56
Purchase of Intangible Assets 2,196,704.93 -
Adjustments Cash Outflows 22.3.1 (51,070,586.25) (57,287,834.03)
Total Cash Outflows 12,555,947.53 13,168,981.53

Net Cash Provided by (Used in) Investing Activities (12,555,947.53) (13,168,981.53)

Total Cash Provided by (Used in) Operating, Investing and

Financing Activities 26,103,078.27 38,725.45
Add: Cash Balance, Beginning January 1 154,917,667.27 154,878,941.82
Cash and Cash Equivalents, December 31 181,020,745.54 154,917,667.27

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

8
 MARIKINA POLYTECHNIC COLLEGE
STATEMENT OF COMPARISON OF BUDGETED AND ACTUAL AMOUNTS
(ALL FUNDS)
FOR THE YEAR ENDED DECEMBER 31, 2021

Budgeted Amount Difference

Actual Amounts on
Particulars Note Final Budget and
Comparable Basis
Original Final Actual

RECEIPTS
Service and Business Income 25.1 34,383,000.00 34,383,000.00 43,668,122.60 (9,285,122.60)
Assistance and Subsidy -
-
Total Receipts 34,383,000.00 34,383,000.00 43,668,122.60 (9,285,122.60)

PAYMENTS
Personnel Services 25.2 135,059,021.55 143,983,102.27 110,933,820.15 33,049,282.12
Maintenance and Other
Operating Expenses 25.3 25,594,230.00 27,368,869.49 14,868,343.94 12,500,525.55
Capital Outlays 25.4 7,721,000.00 25,721,000.00 8,914,103.50 16,806,896.50
Total Payments 168,374,251.55 197,072,971.76 134,716,267.59 62,356,704.17

NET RECEIPTS/PAYMENT (133,991,251.55) (162,689,971.76) (91,048,144.99) (71,641,826.77)

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