Republic of the Philippines

CEBU TECHNOLOGICAL
UNIVERSITY
MJ Cuenco cor. R. Palma St., Cebu City
STATEMENT OF FINANCIAL POSITION
CONSOLIDATED FUND BALANCE
AS AT DECEMBER 31, 2022
with comparative figures for 2021

Note 2022 2021

ASSETS

Current Assets
Cash and Cash Equivalents 5 ₱ 1,144,313,571.73 ₱ 867,671,967.96
Receivables 6 639,710,698.97 694,390,101.95
Inventories 7 58,398,575.25 46,363,435.42
Other Current Assets 8 25,525,810.26 52,695,961.70
Total Current Assets 1,867,948,656.21 1,661,121,467.03
Non - Current Assets
Property, Plant and Equipment 9 2,658,477,656.66 2,586,796,865.07
Biological Assets 10 169,750.00 740,500.00
Intangible Assets 11 74,000.53 97,000.45
Other Assets 12 1,963,943.12 2,090,177.06
Total Non-Current Assets 2,660,685,350.31 2,589,724,542.58

Total Assets 4,528,634,006.52 4,250,846,009.61

LIABILITIES

Current Liabilities
Financial Liabilities 13 135,574,274.76 267,705,605.61
Inter-Agency Payables 14 139,755,962.46 86,415,382.49
Intra - Agency Payables 15 94,837,364.92 91,098,608.54
Trust Liabilities 16 49,808,821.28 54,972,729.45
Other Payables 17 47,173,548.61 253,099,415.01
Deferred Credits/Unearned Income 18 533,860,591.51 521,301,996.57
Total Current Liabilities 1,001,010,563.54 1,274,593,737.67

Non-Current Liabilities
Total Non-Current Liabilities - -

Total Liabilities 1,001,010,563.54 1,274,593,737.67

Total Assets Less Total Liabilities 3,527,623,442.98 2,976,252,271.94

NET ASSETS/EQUITY
Accumulated Surplus/(Deficit) 3,527,623,442.98 2,976,252,271.94
Total Net Assets/Equity 3,527,623,442.98 2,976,252,271.94

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

5
 Republic of the Philippines

CEBU TECHNOLOGICAL UNIVERSITY

MJ Cuenco cor. R. Palma St., Cebu City

STATEMENT OF FINANCIAL PERFORMANCE

CONSOLIDATED FUND BALANCE
For the Year Ended December 31, 2022
with comparative figures for 2021

Note 2022 2021

Revenue
Service and Business Income 19 ₱ 1,199,680,178.72 ₱ 664,656,842.08
Shares, Grants and Donations 20 36,943,904.50 402,500.00
Total Revenue 1,236,624,083.22 665,059,342.08

Less: Current Operating Expenses

Personnel Services 21 1,044,467,915.67 974,633,404.13

Maintenance and Other Operating Expenses 22 651,936,185.98 475,961,860.13
Financial Expenses 23 86,410.65 102,486.02
Non-Cash Expenses 24 126,399,159.60 110,392,716.62

Total Current Operating Expenses 1,822,889,671.90 1,561,090,466.90

Surplus/(Deficit) from Current Operations (586,265,588.68) (896,031,124.82)

Net Financial Assistance/Subsidy 25 1,239,192,921.36 1,412,161,598.86

Gains 26 33,656.84 60,201.80

Surplus (Deficit) for the period ₱ 652,960,989.52 ₱ 516,190,675.84

6
 CEBU TECHNOLOGICAL UNIVERSITY
CONSOLIDATED DETAILED STATEMENT OF CHANGES IN NET ASSETS/EQUITY
MJ Cuenco cor. R. Palma St., Cebu City

For the Years Ended December 31, 2022

With Comparative Figures for CY 2021

Notes 2022 2021

Balance at January 1 ₱ 2,976,252,271.94 ₱ 2,423,069,065.03

Add/(Deduct):
Changes in Accounting Policy
Prior Period Errors 4.1 (93,235,306.43) 19,223,273.04
Other Adjustments 4.2 (8,354,512.05) 17,769,258.03
Restated Balance 2,874,662,453.46 2,460,061,596.10

Add/(Deduct):
Surplus/(deficit) for the period 652,960,989.52 516,190,675.84
Adjustment of net revenue recognized
directly in net assets/equity -
Others
Balance at December 31 ₱ 3,527,623,442.98 ₱ 2,976,252,271.94

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

7
 Republic of the Philippines

CEBU TECHNOLOGICAL UNIVERSITY

MJ Cuenco cor. R. Palma St., Cebu City

STATEMENT OF CASH FLOWS

ALL FUNDS
FOR THE YEAR ENDED DECEMBER 31, 2022
with comparative figures for 2021

2022 2021

Cash Flows From Operating Activities

Cash Inflows
Receipt of Notice of Cash Allocation ₱ 1,662,933,665.00 ₱ 1,305,639,337.00
Receipt of Subsidy from Other NGAs 826,877,737.50 828,725,724.25
Collection of Income/Revenues 733,518,610.05 285,601,088.04
Collection of Receivables 546,226,973.81 316,463,194.77
Other Receipts 124,760,125.91 334,406,251.92
Total Cash Inflows 3,894,317,112.27 3,070,835,595.98

Cash Outflows
Payment of Expenses 2,020,420,063.33 1,285,148,487.16
Grant of Cash Advances 150,000.00 100,000.00
Remittance of Personnel Benefit Contributions and 67,431,917.09 66,122,347.53
Mandatory Deductions
Grant of Financial Assitance/Subsidy to NGAs 971,503,540.00 780,414,352.93
Payment of Insurance 777,717.85 777,717.85
Other Disbursements 77,147,793.43 2,635,871.35
Reversal of Unutilized NCA 98,087,674.57 1,946,285.65
Remittance to National Treasury 84,163,447.51
Total Cash Outflows 3,235,518,706.27 2,221,308,509.98

Net Cash Provided by (Used in) Operating Activities 658,798,406.00 849,527,086.00

Cash Flows From Investing Activities

Cash Outflows
Purchase/Construction of Property, Plant and 382,156,802.23 641,812,763.88
Equipment
Total Cash Outflows 382,156,802.23 641,812,763.88

Net Cash Provided by (Used in) Investing Activities (382,156,802.23) (641,812,763.88)

Increase (Decrease) in Cash and Cash Equivalents 276,641,603.77 207,714,322.12

Cash and Cash Equivalents, January 1 867,671,967.96 659,957,645.84

Cash and Cash Equivalents, December 31 ₱ 1,144,313,571.73 ₱ 867,671,967.96

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

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 Republic of the Philippines

CEBU TECHNOLOGICAL UNIVERSITY

MJ Cuenco co. R. Palma St., Cebu City

STATEMENT OF COMPARISON OF BUDGET AND ACTUAL AMOUNT

ALL FUNDS
For the Year Ended December 31, 2022

BUDGETED AMOUNT ACTUAL AMOUNTS DIFFERENCE FINAL

PARTICULARS ON COMPARABLE BUDGET AND
BASIS ACTUAL
Original Final

RECEIPTS
Service and Business Income ₱ 1,234,472,685.43 1,234,472,685.43 1,279,745,583.86 (45,272,898.43)
Assistance and Subsidy 1,935,915,000.00 1,673,550,417.00 1,673,550,417.00 -
Shares, Grants & Donations -
Other Non-Operating -
Receipts:
Loan Proceeds -
Others - -
Total Receipts 3,170,387,685.43 2,908,023,102.43 2,953,296,000.86 (45,272,898.43)

PAYMENTS
Personnel Services 1,080,698,089.00 1,114,892,550.00 1,000,016,665.31 114,875,884.69
MOOE 1,528,533,773.82 1,198,517,773.82 930,876,887.35 267,640,886.47
Capital Outlay 561,155,822.61 561,155,822.61 269,024,060.72 292,131,761.89
Capital Outlay - Continuing Appropriation 30,218,373.00 30,218,373.00 -
Financial Expenses 3,238,583.00 3,238,583.00
Total Payments 3,170,387,685.43 2,908,023,102.43 2,233,374,569.38 674,648,533.05

NET RECEIPTS/PAYMENTS ₱ (0.00) (0.00) 719,921,431.48 (719,921,431.48)

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