FOREIGN SERVICE INTITUTE

STATEMENT OF FINANCIAL POSITION

AS AT DECEMBER 31, 2017
(In Philippine Peso)

Note 2017 2016

ASSETS

Current Assets
Cash and Cash Equivalents 7 8,060,960.86 22,077,833.27
Receivables 8 2,013,128.88 702,347.77
Inventories 9 918,961.43 1,082,223.94
Other Current Assets 10 452,134.68 497,441.16
Total Current Assets 11,445,185.85 24,359,846.14

Non-Current Assets
Property, Plant and Equipment 11 5,350,131.68 4,747,131.22
Intangible Assets 12 758,471.64 776,438.23
Total Non-Current Assets 6,108,603.32 5,523,569.45

TOTAL ASSETS 17,553,789.17 29,883,415.59

LIABILITIES

Current Liabilities
Financial Liabilities 13 2,203,150.47 342,749.68
Inter-Agency Payables 14 7,610,744.15 21,029,014.87
Other Payables 15 238,945.81 841,394.67
Total Current Liabilities 10,052,840.43 22,213,159.22

Non-Current Liabilities 0.00 0.00

TOTAL LIABILITIES 10,052,840.43 22,213,159.22

TOTAL ASSETS LESS TOTAL LIABILITIES 7,500,948.74 7,670,256.37

NET ASSETS/EQUITY

Accumulated Surplus/(Deficit) 7,500,948.74 7,670,256.37

Total Net Assets/Equity 7,500,948.74 7,670,256.37

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 FOREIGN SERVICE INTITUTE
STATEMENT OF FINANCIAL PERFORMANCE
FOR THE YEAR ENDED 31 DECEMBER 2017
(In Philippine Peso)

Note 2017 2016

REVENUE
Service and Business Income 16 19,739.14 3,245.26
Total Revenue 19,739.14 3,245.26

Less: Current Operating Expenses

Personal Services 17 51,597,692.53 48,891,557.98
Maintenance and Other Operating Expenses 18 12,651,006.47 12,671,790.83
Non-Cash Expenses 19 1,018,900.06 613,877.72
Total Current Operating Expenses 65,267,599.06 62,177,226.53

Surplus/(Deficit) from Current Operations (65,247,859.92) (62,173,981.27)

Net Subsidy from National Government 20 63,911,386.72 64,533,238.55

Surplus/(Deficit) for the period (1,336,473.20) 2,359,257.28

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 FOREIGN SERVICE INTITUTE
STATEMENT OF CHANGES IN NET ASSETS/EQUITY
FOR THE YEAR ENDED DECEMBER 31, 2017
(In Philippine Peso)

Accumulated Surplus/(Deficit)
Note 2017 2016

Balance at January 1, 2017 7,670,256.37 4,844,471.33

Changes in Accounting Policy
Prior Period Adjustments/Unrecorded Income and Expenses
Other Adjustments
Restated balance 7,670,256.37 4,844,471.33

Changes in Net Assets/Equity for the Calendar Year

Surplus for the period (1,336,473.20) 2,359,257.28
Adjustment of net revenue recognized directly in net assets/equity 1,167,165.57 466,527.76
Total recognized revenue and expense for the period (169,307.63) 2,825,785.04

Others - -

Balance at December 31, 2017 21 7,500,948.74 7,670,256.37

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 FOREIGN SERVICE INTITUTE
STATEMENT OF CASH FLOWS
FOR THE YEAR ENDED DECEMBER 31, 2017
(In Philippine Peso)

Note 2017 2016

CASH FLOWS FROM OPERATING ACTIVITIES

Cash Inflows:
Receipt of Notice of Cash Allocation (NCA) 22 60,149,568.00 62,887,738.00
Collection of Income/Revenues 23 2,009.15 2,183.18
Receipt of Inter-Agency Fund transfers 24 200,000.00 24,588,055.48
Trust Receipts 25 138,144.01 167,111.90
Other Receipts 26 62,754.78 307,583.42
Total Cash Inflows 60,552,475.94 87,952,671.98

Cash Outflows:
Remittance to National Treasury 27 694,249.67 237,284.07
Payment of expenses 28 45,781,264.31 47,116,268.71
Purchase of inventories 29 1,576,823.43 570,744.89
Grant of cash advances 30 386,813.62 731,626.27
Payment of accounts payable 31 192,089.29 483,399.52
Remittance of Personnel Benefit Contributions and Mandatory Deduction 32 9,737,971.70 8,240,750.91
Release of Inter-Agency Fund Transfers 33 13,743,803.76 11,068,740.55
Reversal of Unutilized NCA 34 1,185,334.83 2,803,046.04
Total Cash Outflows 73,298,350.61 71,251,860.96

Net Cash Provided by (Used in) Operating Activities (12,745,874.67) 16,700,811.02

CASH FLOWS FROM INVESTING ACTIVITIES

Cash Inflows: - -

Cash Outflows:
Purchase/Construction of Property, Plant and Equipment 35 1,270,997.74 2,827,550.14
Total Cash Outflows 1,270,997.74 2,827,550.14

Net Cash Provided by (Used in) Investing Activities (1,270,997.74) (2,827,550.14)

CASH FLOWS FROM FINANCING ACTIVITIES - -

Increase (Decrease) in Cash and Cash Equivalents (14,016,872.41) 13,873,260.88

Effects of Exchange Rate Changes on Cash and Cash Equivalents

Cash and Cash Equivalents, January 1, 2017 22,077,833.27 8,204,572.39

Cash and Cash Equivalents, December 31, 2017 8,060,960.86 22,077,833.27

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 FOREIGN SERVICE INSTITUTE
STATEMENT OF COMPARISON OF BUDGET AND ACTUAL AMOUNT
FOR THE YEAR ENDED DECEMBER 31, 2017
(In Philippine Peso)

Budgeted Amounts
Particulars Notes Actual Amounts Difference Final
Original Final on Comparable Budget and
Basis Actual

RECEIPTS 36
Tax Revenue
Services and Business Income - - 17,700.00 (17,700.00)
Assistance and Subsidy - - -
Shares, Grants and Donations - - - -
Gains - - -
Others - sale of bidding documents - - 30.00 (30.00)
Total Receipts - - 17,730.00 (17,730.00)

PAYMENTS 37
Personnel Services 46,095,000.00 51,472,956.00 50,040,117.03 1,432,838.97
Maintenance and Other Operating Expenses 13,238,230.82 12,202,230.82 11,397,241.54 804,989.28
Capital Outlay 2,026,146.55 2,026,146.55 1,871,802.55 154,344.00
Financial Expenses 3,000.00 3,000.00 601.50 2,398.50
Others - - - -
Total Payments 61,362,377.37 65,704,333.37 63,309,762.62 2,394,570.75

NET RECEIPTS/PAYMENTS (61,362,377.37) (65,704,333.37) (63,292,032.62) (2,412,300.75)