JUNIOR MARKETERS ASSOCIATION

Statement of Cash Flows

1st Semester SY 2014- 2015

Cash Receipts: Note

Membership Fee Collection 1 P 29, 520.00

Acquaintance Fee Collection 90, 820.00
Organizational Shirt Collection 12, 980.00
Landscaping Collection 12, 320.00
Other Collections 23, 755.00
Total Collections P 169,395.00

Cash Disbursements:

Membership Fee Expense P 7,746.85

Supplies Expense 2 778.85
Landscaping Expense 3 3,695.00
Food Expense 4 3,974.25
Appliance Expense 5 24,500.00
Acquaintance Expense 6 89,943.76
Other Expense 7 38,659.00
Total Disbursements (P 169,297.71)

Cash on hand P 97.29

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Note 1: Membership Fee Collection

Date No. of students Receipt No. Amount collected

(P60/student)
2014
May 19 28 No. 001981- 002008 P 1,680.00
20 20 No. 002009- 002028 1,200.00
21 19 No. 002029- 002047 1,140.00
22 12 No. 002048- 002059 720.00
23 20 No. 002060- 002079 1,200.00
26 105 No. 002080- 002184 6,300.00
27 15 No. 002185- 002199 900.00
28 97 No. 002200- 002296 5,820.00
29 22 No. 002297- 002318 1,320.00
30 81 No. 002319- 002399 4,860.00
June 2 53 No. 002400- 002452 3,180.00
5-6 20 No. 002453- 002472 1,200.00

Total 492 P 29,520.00

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Note 2: Supplies Expense

Date Amount
2014
May 18 P 70.50
Jun 4 63.50
14 251.00
20 160
Jul 2 96
15 55.25
Aug 11 46.60
Sep 30 36.00

Total P 778.85

Note 3: Landscaping Expense

Particulars Amount
UNICO P 1,085.00
Fare Expense 160.00
Buhangin, Panambak, 2,450.00
Hollow Blocks

Total P 3,695.00

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Note 4: Foods Expense

Date Amount
2014
May 19 P 20.00
21 20.00
26 300.00
26 240.00
26 300.00
26 240.00
27 300.00
27 210.00
29 40.00
30 36.00
30 30.00
June 2 64.00
5 100.00
6 186.25
6 354.00
9 60.00
9 880.00
Aug 18 114.00
Sep 1 175.00
12 180.00
30 30.00
Oct 1 45.00
3 50.00

Total P 3,974.25

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Note 5: Appliance Expense (1 unit of Air Con)

Date Particulars Amount

2015
Aug 18 Customer’s Deposit 15,000.00
Nov 3 Receivable Payment + Interest 5,000.00

2016
Jan 29 Receivable Payment + Rebate 4,500.00

Total P 24,500.00

Note 6: Acquaintance Expense

Date Amount
2014
Jan 27 19.00
May 26 20.00
26 10.00
26 20.00
27 40.00
Jun 4 20.00
6 25.00
6 36.00
7 25.00
9 40.00
11 20.00
11 93.00
11 136.00
19 48.00
19 24.00

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 19 75.00
Jul 2 20.00
Aug 5 135.00
7 99.00
8 75.25
8 126.75
8 35.00
8 94.00
9 50.00
9 700.00
9 446.88
9 14.00
28 28.00
Sep 11 15,000.00
15 180.00
30 20.00
Oct 06 250.00
10 43.00
Food Exp 38,483.63
Souvenir Exp 30,000.00
Materials Exp 1,078.25
Honorarium Exp 1,700.00
Transportation Exp 400.00
Miscellaneous Exp 314.00

Total P89,943.76

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Note 7: Other Expenses

Date Particulars Amount

2014
May 26 Snacks 560.00
26 Mass Donation 200.00
26 Fare 20.00
Aug 23 Receipt cannot be read (Unico) 1,085.00
Oct 12 Printing and photocopy P61.00
12 Printing and Fare 321.00
12 Supplies 245.00
Dec 2 Christmas Decor 406.00
2 Fare 80.00
5 Christmas Décor 371.00
5 Snacks 60.00
5 Fare 80.00
5 Christmas Decor 60.00
-- Gulaman (Intrams) 1,000.00
10 T-shirt printing (org shirt) 34,170.00

Total 38,659.00

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 AUDIT FINDINGS

1. Acquaintance Fee, Organizational Shirt, Landscaping and Other Collections

amounting to P139, 875 are not substantiated with receipts.

2. Breakdown for Membership Fee Expense is not provided.

3. The organization’s report on Collection of Membership is improperly stated, for

some amounts reported therein do not reflect the actual amounts collected. The
organization has erroneously classified amounts that are not really pertaining to the
collection of Membership fee, such as the July 18 and October 12 transactions
amounting to P46, 975. It was then adjusted by the auditor based on the
organization’s available receipts/ written evidences.

4. Some adjustments were also made in the Food Expense account. The amount on
the transaction on May 27, 2014 was mistakenly encoded as P20 instead of P300.
Also, the amount recorded on June 6, 2014 equaling to P354 was reported twice.

5. Some expenses included in the JMA’s Other Expense account were reclassified into
Appliance Expense and Landscaping Expense.

6. Under the Acquaintance Expense, line items such as Food, Souvenir, Material,
Honorarium Expense and September 11 transaction pertaining to purchasing of
lanyards do not provide any official disbursement receipt and breakdown. This is to
note that the amounts included therein are big and significant.

Prepared and audited by: LADY LYNN POSADAS

SCOA Chairperson

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