PROVINCE SIQUIJOR ELECTRIC COOPERATIVE, INC.

(PROSIELCO)
2012 Budget Utilization Report
(In Philippine Peso)
2012 ACTUAL BUDGET BALANCE
APPROVED AS OF SEPT. 30 AMOUNT %
INTERNAL CASH GENERATION
1. Collection from Customers A/R
1.a. From Energy Sales 129,553,906 106,115,398 (23,438,508) (18)
1.b. From RFSC 12,657,909 10,010,874 (2,647,035) (21)
1.c. From Universal Charge 1,613,090 1,186,095 (426,995) (26)
1.d. From VAT 2,231,294 13,665,447 11,434,153 512
2. Non-Operating Revenue
2.a. Reconnection & Other Fees 2,000,000 0 (2,000,000) (100)
2.b. Interest Income 0 271,906 271,906
2.c. Other Revenue 3,000,000 1,617,475 (1,382,525) (46)
2.d. PPD 0 3,048,844 3,048,844
3. Loan from NEA/Banks/Other Fin. Institutions 1,000,000 0 (1,000,000) (100)
4. DOE Fund/NEA Subsidy 0 1,416,769 1,416,769
Total 152,056,200 137,332,808 (14,723,392) (10)
CASH FOR OPERATIONS
1. Cost of Power 109,248,425 93,133,871 16,114,554 15
2. Non-Power Cost -
2.a. Salaries & Wages 10,500,612 6,830,595 3,670,017 35
2.b. SSS/Medicare/ECC/Pag-Ibig 906,693 555,576 351,117 39
2.c. Employee Benefits 3,239,089 3,074,713 164,376 5
2.d. Utilities 186,000 163,261 22,739 12
2.e. Office Materials & Supplies 507,571 217,907 289,664 57
2.f. Travel 352,600 380,864 (28,264) (8)
2.g. Transportation 1,531,500 992,504 538,996 35
2.h. Repairs & Maintenance 923,357 656,350 267,007 29
2.i. Directors' Per Diems 705,600 517,300 188,300 27
2.j. Allowances/Representation 762,600 579,296 183,304 24
2.k. Outside Professional Service 629,000 563,349 65,651 10
2.l. Seminars/Trainings 999,000 573,441 425,559 43
2.m. Institutional Activities 366,000 245,213 120,787 33
2.n. Insurance/Registration 131,300 69,663 61,637 47
2.o. Sundries 66,000 37,621 28,379 43
Sub-Total 21,806,922 15,457,653 6,349,269 29
CASH FOR DEBT SERVICE (CURRENT & LONG-TERM)
1. NEA/Bank/Other Payables 1,015,512 664,799 350,713 35
2. Universal Charge 1,613,090 1,200,117 412,973 26
3. VAT Payable 2,231,294 12,225,434 (9,994,140) (448)
4. Franchise /Real Property Tax/Business 0 139,809 (139,809)
Sub-Total 4,859,896 14,230,159 (9,370,263) (193)

CASH FOR CAPITAL EXPENDITURES 8,472,979 6,064,885 2,408,094 28

CASH FOR SINKING FUNDS 7,237,972 4,843,089 2,394,883 33

CASH AFTER SINKING FUNDS 430,006 3,603,151

Add: Cash Balance, Beginning 332,314 1,038,323
CASH BALANCE, END 762,320 4,641,474