DEPARTMENT OF TOURISM

STATEMENT OF FINANCIAL POSITION

All Funds
As at December 31, 2016
(in PhP)

Note 2016 2015

ASSETS
Current Assets
Cash and Cash Equivalents 6 1,071,723,801.74 1,427,606,785.29
Receivables 7 643,623,069.39 1,251,180,143.58
Inventories 8 19,825,956.00 23,997,418.25
Other Current Asset 10.1 301,494,722.80 65,197,904.35
Total Current Assets 2,036,667,549.93 2,767,982,251.47

Non - Current Assets

Investments - 10,561.67
Property, Plant and Equipment 9 348,153,077.52 364,854,317.69
Other Non-Current Assets 10.2 975,665.90 6,568,150.45
Total Non-Current Assets 349,128,743.42 371,433,029.81

Total Assets 2,385,796,293.35 3,139,415,281.28

LIABILITIES
Current Liabilities
Financial Liabilities 11 64,435,828.24 531,490,917.95
Inter-Agency Payables 12 20,014,060.15 14,640,915.81
Intra-Agency Payables 13 14,530,221.04 7,501,067.58
Trust Liabilities 14 7,418,824.31 4,585,389.40
Other Payables 15 238,954,797.49 149,267,014.01
Total Current Liabilities 345,353,731.23 707,485,304.75

Total Liabilities 345,353,731.23 707,485,304.75

Total Assets less Total Liabilities 2,040,442,562.12 2,431,929,976.53

NET ASSETS/EQUITY
Accumulated Surplus/(Deficit) 2,040,442,562.12 2,431,929,976.53
Total Net Assets/Equity 2,040,442,562.12 2,431,929,976.53

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

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 DEPARTMENT OF TOURISM
STATEMENT OF FINANCIAL PERFORMANCE
All Funds
For the Year Ended December 31, 2016
(in PhP)

Note 2016 2015

Revenue
Service and Business Income 16 14,429,299.33 6,696,718.32
Shares, Grants and Donations 170,791,176.38 -
Total Revenue 185,220,475.71 6,696,718.32

Less: Current Operating Expenses

Personnel Services 17 366,604,826.75 336,950,469.05
Maintenance and Other Operating Expenses 18 990,859,568.27 1,138,929,532.08
Financial Expenses 19 1,934,265.39 2,517,420.50
Non-Cash Expenses 20 22,459,737.52 22,397,521.65
Total Current Operating Expenses 1,381,858,397.93 1,500,794,943.28

Surplus (Deficit) from Current Operations (1,196,637,922.22) (1,494,098,224.96)

Net Financial Assistance/Subsidy 21 1,869,335,990.76 2,171,546,080.55

Gains 22 11,606,973.74 0.04
Losses 23 (7,683.10) (212,443.26)
Surplus (Deficit) for the Period 684,297,359.18 677,235,412.37

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

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 DEPARTMENT OF TOURISM
STATEMENT OF CHANGES IN NET ASSETS/EQUITY
All Funds
For the Year Ended December 31, 2016
(in PhP)

Note 2016 2015

Balance at January 1 2,431,929,976.53 2,778,065,916.05

Add/(Deduct):
Changes in Accounting Policy 4 590,478.11 -
Prior Period Adjustments 5 (1,047,126,395.39) (1,025,331,984.86)
Other Adjustments 5 (29,248,856.31) 1,969,112.86
Restated Balance 1,356,145,202.94 1,754,703,044.05

Add/(Deduct):
Changes in Net Assets/Equity for Calendar Year
Surplus/(Deficit) for the Period 684,297,359.18 677,235,412.37
Adjustment of net revenue recognized
directly in net assets/equity - (8,479.89)
Sub-Total 684,297,359.18 677,226,932.48

Balance at December 31 2,040,442,562.12 2,431,929,976.53

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

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 DEPARTMENT OF TOURISM
STATEMENT OF CASH FLOWS
All Funds
For the Year Ended December 31, 2016
(in PhP)

Note 2016 2015

Cash Flows From Operating Activities

Cash Inflows
Receipt of Notice of Cash Allocation 21 3,726,183,762.23 2,699,854,412.59
Collection of Income/Revenues 16,094,202.08 7,566,291.02
Receipt of Subsidy from Other NGAs,
LGUs and GOCCs 449,245.49 593,000.00
Collection of Receivables 2,729,935.03 441,905.90
Receipt of Inter-Agency Fund Transfers 387,760,368.12 348,093,500.00
Receipt of Intra-Agency Fund Transfers 28,837,372.95 39,374,807.52
Trust Receipts 110,029,231.39 8,209,810.73
Other Receipts 6,536,075.97 7,481,177.45
Adjustments 4,750,494.14 382,321,569.05
Total Cash Inflows 4,283,370,687.40 3,493,936,474.26

Cash Outflows
Remittance to National Treasury 13,905,642.62 9,724,244.83
Payment of Expenses 1,155,701,531.36 1,254,555,054.05
Purchase of Inventories 22,164,902.64 19,575,464.29
Grant of Cash Advances 238,676,991.83 14,897,584.37
Prepayments 2,644,127.57 1,417,795.98
Payments/Refund of Deposits 33,321.79 30,000.00
Payment of Accounts Payable 601,161,525.29 341,889,191.69
Remittance of Personnel Benefit
Contributions and Mandatory Deductions 74,093,344.35 109,225,083.66
Grant of Financial Assistance/Subsidy 50,409,959.96 111,066,285.70
Release of Inter-Agency Fund Transfers 357,052,466.10 205,515,257.08
Release of Intra-Agency Fund Transfers 117,912,930.49 87,495,644.30
Payment from Trust Liabilities/Fund
Transfers 100,970,400.16 302,548,186.36
Other Disbursements 109,262.00 41,081.13
Reversal of Unutilized NCA 21 1,522,032,441.82 417,491,659.89
Adjustments 379,990,097.17 92,779,920.45
Total Cash Outflows 4,636,858,945.15 2,968,252,453.78
Net Cash Provided by (Used in) Operating Activities (353,488,257.75) 525,684,020.48

Cash Flows from Investing Activities

Cash Outflows
Purchase/Construction of Property, Plant and Equipment 2,394,725.80 4,721,713.28
Total Cash Outflows 2,394,725.80 4,721,713.28
Net Cash Provided by (Used in) Investing Activities (2,394,725.80) (4,721,713.28)
Increase (Decrease) in Cash and Cash Equivalents (355,882,983.55) 520,962,307.20
Cash and Cash Equivalents, January 1, 2016 1,427,606,785.29 906,644,478.09

Cash and Cash Equivalents, December 31, 2016 1,071,723,801.74 1,427,606,785.29

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

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 DEPARTMENT OF TOURISM
STATEMENT OF COMPARISON OF BUDGET AND ACTUAL AMOUNTS
All Funds
For the Year Ended December 31, 2016
(in PhP)

Budgeted Amount Actual Amounts on Difference Final

Particulars Notes
Comparable Basis Budget and Actual
Original Final

RECEIPTS
Services and Business Income 16.1, 16.2 4,578,000.00 4,578,000.00 11,503,718.10 (6,925,718.10)
Assistance and Subsidy - - - -
Total Receipts 4,578,000.00 4,578,000.00 11,503,718.10 (6,925,718.10)

PAYMENTS
Personnel Services 25 320,923,000.00 383,627,650.00 360,106,625.73 23,521,024.27
Maintenance and Other
Operating Expenses 25 2,822,966,021.77 2,809,027,962.77 1,594,002,947.37 1,215,025,015.40
Capital Outlay 25 4,330,000.00 4,330,000.00 220,578.00 4,109,422.00
Financial Expenses 25 1,534,372.28 2,397,431.28 2,158,392.46 239,038.82
Others - - - -
Total Payments 3,149,753,394.05 3,199,383,044.05 1,956,488,543.56 1,242,894,500.49

NET RECEIPTS/PAYMENTS (3,145,175,394.05) (3,194,805,044.05) (1,944,984,825.46) (1,249,820,218.59)