MSU-Iligan Institute of Technology

CONDENSED STATEMENT OF FINANCIAL POSITION

As of December 31, 2014

Particulars NOTE 2014

ASSETS
Current Assets 1
Cash and Cash Equivalents
2013
Note 1 : Current Assets UACS 2014

Cash and Cash Equivalents 10100000 00

Cash in Bank - Local Currency 10102000 00
Treasury/Agency Cash Accounts 10104000 00

Investments 10200000 00
Financial Assets - Others 10203000 00

Receivables 10300000 00
Loans and Receivable Accounts 10301000 00
Lease Receivable 10302000 00
Inter-Agency Receivables 10303000 00
Other Receivables 10305000 00

Inventories 10400000 00
Inventory Held for sale 10401000 00
Inventory Held for Manufacturing 10403000 00
Inventory Held for Consumption 10404000 00

Other Assets 19900000 00

Advances 19901000 00
Prepayments 19902000 00
Deposits 19903000 00
Other Assets 19999000 00

TOTAL CURRENT ASSETS

Note 2 : Non-current Assets UACS 2014

Investment Property 10500000 00

Land and Buildings 10501000 00
Accumulated Depreciation - Investment Property, Buildings 10501021 00
Accumulated Impairment Losses - Investment Property, Build10501022 00

Property, Plant and Equipment 10600000 00

Land 10601000 00
Land Improvements 10602000 00

Infrastructure Assets 10603000 00

Buildings and Other Structures 10604000 00
Machinery and Equipment 10605000 00
Transportation Equipment 10606000 00
Furniture, Fixtures and Books 10607000 00
Construction in Progress 10610000 00
Other Property, Plant and Equipment 10699000 00
 2013

168,803,294.28
168,011,422.22
791,872.06

10,250.00
10,250.00

16,459,746.68
115,355.00
-
1,154,033.94
15,190,357.74

1,982,163.37
-
-
1,982,163.37

16,011,785.53
1,600,296.20
14,173,857.55
237,631.78
-

203,267,239.86

2013

6,452,390.58
10500000 00 INVESTMENT PROPERTY
10501000 00 Land and Buildings

Land 201 6,452,390.58

Land Improvements 202 3,997,758.17
Electrification and Power Equipm 205 47,416.00
Accumulated Dep.-Electrification 305 (7,942.18) 39,473.82
Office Buildings 211 17,484,279.19
Accumulated Depreciation-Office 311 (8,603,774.57) 8,880,504.62
School Buildings 212 83,842,621.18
Accumulated Depreciation-School 312 (19,450,939.10) 64,391,682.08
Office Equipment 221 6,189,286.61
Accumulated Depreciation-Office 321 (2,856,192.51) 3,333,094.10

Furniture & Fixtures 222 669,314.16

Accumulated Depreciation-Furnitu 322 (349,370.45) 319,943.71
IT Equipment & Software 223 38,172,553.31

Accumulated Depreciation-IT Eq 323 (20,449,427.88) 17,723,125.43

Machineries 226 496,224.00
Accumulated Depreciation-Machin 326 (389,691.78) 106,532.22
Communication Equipment 229 686,776.00
Accumulated Depreciation-Com.E 329 (271,295.36) 415,480.64
Fire Fighting Equip. & Accessorie 231 112,359.58
Accumulated Depreciation-Fire Fi 331 (4,399.81) 107,959.77

Medical, Dental & Lab. Equipt. 233 533,300.30

Accumulated Depreciation-Medical 333 (459,611.01) 73,689.29
Military and Police Equipment 234 49,690.00
Accumulated Depreciation-Military 334 (44,879.65) 4,810.35
Sports Equipment 235 60,513.40
Accumulated Depreciation-Sport 335 (42,364.80) 18,148.60
Technical & Scientific Equipment 236 114,814,690.71
Accumulated Depreciation-Tech. & 336 (38,305,818.27) 76,508,872.44
Other Machineries and Equipmen 240 2,264,432.73
Accumulated Depreciation-Other 340 (2,090,699.08) 173,733.65
Motor Vehicles 241 3,114,658.04
Accumulated Depreciation-Motor 341 (2,950,350.32) 164,307.72
Other Property, Plant & Equipmen 250 5,846,503.66
Accumulated Depreciation-Other 350 (3,502,538.39) 2,343,965.27
Artesian Wells, Pumping Station 254 291,651.40
Accumulated Depreciation-Artesi 354 (201,652.49) 89,998.91
Construction in Progress 264 21,808,669.07
Other Assets 290 990,195.28
 Mindanao State University
ILIGAN INSITUTE OF TECHNOLOGY
Iligan City

Balance Sheet
As of December 31, 2013
Fund 101

Particulars Account Code Amount (P)

ASSETS
CURRENT ASSETS
Cash:
Cash-National Treasury, Modified Disbursement System( 108 791,872.06
Cash In Bank-Local Currency, Current Account 111 165,760,095.13
Cash In Bank-Local Currency, Time Deposits 112 2,251,327.09
Receivables:
Due from Officers and Employees 123 1,552,170.65
Loans Receivable 126 115,355.00
Due from NGAs 136 25,092.95
Due from GOCCs 137 1,128,940.99
Due from Other Funds 144 291,158.28
Receivables-Disallowances/Charges 146 6,146,849.97
Advances to Officers and Employees 148 48,125.55
Other Receivables 149 8,765,100.89
Allowance for Doubtful Accounts 301 (12,751.40) 8,752,349.49
Inventories:
Accountable Forms Inventory 156 250,250.00
Other Supplies Inventory 165 79,338.25
Construction Materials Inventory 168 1,652,575.12
Prepayments:
Prepaid Insurance 178 511,665.19
Deposit on Letters of Credit 180 162,216.78
Advances to Constractors 181 13,651,192.36
Other Prepaid Expenses 185 11,000.00
Other Current Assets:
Guaranty Deposits 186
Other Investments:
Other Investments 197

Total Current Assets

NONCURRENT ASSETS
Property Plant & Equipment:
Land 201 6,452,390.58
Land Improvements 202 3,997,758.17
Electrification and Power Equipment 205 47,416.00
Accumulated Dep.-Electrification, power & energy structur 305 (7,942.18) 39,473.82
Office Buildings 211 17,484,279.19

Page 8 of 13
 Particulars Account Code Amount (P)
Accumulated Depreciation-Office Buildings 311 (8,603,774.57) 8,880,504.62
School Buildings 212 83,842,621.18
Accumulated Depreciation-School Buildings 312 (19,450,939.10) 64,391,682.08
Office Equipment 221 6,189,286.61
Accumulated Depreciation-Office Equipment 321 (2,856,192.51) 3,333,094.10
Furniture & Fixtures 222 669,314.16
Accumulated Depreciation-Furniture & Fixtures 322 (349,370.45) 319,943.71
IT Equipment & Software 223 38,172,553.31
Accumulated Depreciation-IT Equipment 323 (20,449,427.88) 17,723,125.43

Machineries 226 496,224.00

Accumulated Depreciation-Machineries 326 (389,691.78) 106,532.22

Communication Equipment 229 686,776.00

Accumulated Depreciation-Com.Equipt. 329 (271,295.36) 415,480.64

Fire Fighting Equip. & Accessories 231 112,359.58

Accumulated Depreciation-Fire Fighting Equipt. 331 (4,399.81) 107,959.77

Medical, Dental & Lab. Equipt. 233 533,300.30

Accumulated Depreciation-Medical, Dental & Lab. Equipt. 333 (459,611.01) 73,689.29

Military and Police Equipment 234 49,690.00

Accumulated Depreciation-Military & Police Equipt. 334 (44,879.65) 4,810.35

Sports Equipment 235 60,513.40

Accumulated Depreciation-Sports Equipment 335 (42,364.80) 18,148.60

Technical & Scientific Equipment 236 114,814,690.71

Accumulated Depreciation-Tech. & Scientific Equipt. 336 (38,305,818.27) 76,508,872.44

Other Machineries and Equipment 240 2,264,432.73

Accumulated Depreciation-Other Machineries & Equipt. 340 (2,090,699.08) 173,733.65
Motor Vehicles 241 3,114,658.04
Accumulated Depreciation-Motor Vehicles. 341 (2,950,350.32) 164,307.72

Other Property, Plant & Equipment 250 5,846,503.66

Accumulated Depreciation-Other PPE 350 (3,502,538.39) 2,343,965.27
Artesian Wells, Pumping Station & Condults 254 291,651.40
Accumulated Depreciation-Artesian Well, Pumping Statn. 354 (201,652.49) 89,998.91
Construction in Progress 264 21,808,669.07
Other Assets 290 990,195.28
Total NonCurrent Assets

TOTAL ASSETS

Page 9 of 13
 Particulars Account Code Amount (P)

LIABILITIES AND EQUITY

Liabilities:
Accounts Payable 401 3,557,160.36
Due to Officers and Employees 403 1,226,124.04
Due to National Treasury 411 8,701.70
Due to BIR 412 2,289,749.39
Due to GSIS 413 24,042.38
Due to Pag-ibig 414 1,862.01
Due to Other NGAs 416 175,533,780.30
Due To Other Funds 424 40,686.81
Guaranty Deposit Payable 426 2,474,705.62
Other Payables 439 140,195.52
Other Deferred Credits 455 1,242,998.67
Total Liabilities

Equity:
Government Equity 501 223,444,194.78
Prior Years' Adjustments 684 1,227,374.00
Total Equity

TOTAL LIABILITIES AND EQUITY

Certified Correct:

JULIETA B. LOPEZ, CPA

Chief Accountant

Page 10 of 13
)

168,803,294.28 168,011,422.22

18,060,042.88

1,982,163.37

14,336,074.33

75,415.00

10,250.00
203,267,239.86

Page 11 of 13
)

207,944,335.72

411,211,575.58

Page 12 of 13
)

186,540,006.80

224,671,568.78

411,211,575.58

Page 13 of 13