2018 AFR GCs Volume I PDF

CY 2018
Annual
Financial
Report
Government Corporations
Volume I
EXECUTIVE SUMMARY
EXECUTIVE SUMMARY
Legal Framework
The Commission on Audit (COA) is mandated under Section 4, Article IX-D of the 1987
Philippine Constitution to submit to the President and the Congress, within the time fixed by
law, an annual financial report (AFR) covering the financial condition and operation of the
Government, its subdivisions, agencies and instrumentalities, including government
corporations (GCs), and non-governmental entities subject to its audit, and recommend
measures necessary to improve the effectiveness and efficiency of their operations. This is
also stated in Section 41 (1) of Presidential Decree (P.D.) No. 1445, the Government
Auditing Code of the Philippines, which provides that the COA shall submit to the President
and the Congress said Annual Report, not later than the last day of September of each year.
The Government Accountancy Sector (GAS) prepares the AFR pursuant to Section 12 of
P.D. No. 1445 and COA Resolution No. 2013-021 dated November 20, 2013, prescribing the
Restructuring of the GAS. This Report covers the financial position, comprehensive income,
and cash flows of GCs, including government financial institutions and their subsidiaries, and
water districts (WDs).
Objectives
This CY 2018 AFR for GCs is prepared to provide to a wide range of users and to the general
public the necessary information on the financial position, comprehensive income/financial
performance, changes in net assets/equity, cash flows of all GCs including the comparison of
budget and actual amounts of GCs classified as non-government business enterprises.
The financial information contained in this Report strengthen the policy of the government on
transparency and accountability and serve as useful tool for: a) the President as overall head
of the government; b) the Congress in the promulgation of laws; c) oversight agencies in the
performance of their oversight functions; and d) heads of GCs for sound economic decisions
towards the efficient and effective utilization of government resources and better delivery of
public services.
This Report is also envisioned to support various groups such as the media, civil society,
people’s organizations, non-government organizations and the international community in
achieving transparency in government entities by giving access to financial information to the
general public. This further provides information that may be useful to the present and
potential investors, lenders, suppliers/creditors, and other stakeholders.
Contents and Limitations
This AFR for GCs covers the comparative combined financial statements (FSs) for CYs 2018
and 2017 of 613 or 96.69 percent of the total 634 GCs and WDs under the audit jurisdiction
of the COA Corporate Government Sector (CGS) and the Regional Offices.
Volume I of this Report presents the combined FSs of 125 or 96.90 percent of the 129 regular
GCs, and 488 or 96.63 percent of the 505 WDs nationwide. All WDs and 83 regular GCs are
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classified as GBEs while 42 regular GCs are classified as non-GBEs. The combined FSs and
individual FSs of 488 WDs are separately presented in Volume II of this Report.
Of the 613 FSs of GCs, 454 or 74.06 percent were audited, consisting of 121 regular GCs and
333 WDs, while audit of 159 or 25.93 percent are either ongoing or still to be conducted.
Most of the unaudited FSs pertain to WDs located in the different regions, audit of which are
on a cyclical basis.
Three WDs which submitted FSs for CYs 2018 with no comparable data for CY 2017 were
not included in this report, namely: Bangui WD in Ilocos Norte, Bacolor WD in Pampanga,
and Batangas City WD.
Part I presents the financial highlights of GCs for CY 2018 based on the information in the
combined FSs. Part II presents the combined FSs for CY 2018 with comparative figures for
CY 2017, composed of the following:
a. Statement of Financial Position;

b. Statement of Comprehensive Income;
c. Statement of Changes in Net Assets/Equity;
d. Statement of Cash Flows;
e. Statement of Comparison of Budget and Actual Amounts; and
f. Notes to Financial Statements.
The Statement of Comprehensive Income (SCI) is a combination of the SCIs submitted by

GCs classified as government business enterprises (GBEs) and the Statements of Financial
Performance submitted by GCs classified as non-GBEs. The CY 2017 FSs were restated due
to prior period errors, changes in accounting estimates, and other adjustments and the restated
figures do not correspond to those presented in the previous year’s AFR. The combined
Statement of Comparison of Budget and Actual Amounts was prepared based on the
submissions by 42 non-GBEs.
Part III presents significant financial information which include, among others, schedules of:
a) aging of accounts receivable, accounts payable, and unliquidated cash advances; b)
summary of property, plant and equipment; c) income and other taxes paid and dividend
remittances to the national government (NG); d) breakdown of domestic and foreign loans; e)
subsidy received from the NG and annual growth in subsidy received; and f) summary of
representation, extraordinary and miscellaneous expenses, advertising, promotional and
marketing expenses, confidential, intelligence and consultancy expenses. Included as annexes
are the summary of functions of GCs by cluster and lists of: a) GCs and their acronyms and
business locations; b) GCs and their accounting standards adopted; and c) GCs with status of
audit and unsubmitted FSs.
Part IV presents the Summary of Audit Results which includes the type of audit opinions
rendered, summary of selected significant and common audit observations with
corresponding recommendations, summary of issuance and settlement of suspensions,
disallowances and charges, the summary of implementation of prior years’ audit
recommendations, and consolidated audit observations on gender and development. The audit
opinion rendered on the fairness of FSs presentation of each GC was a representation and
sole responsibility of the auditor concerned.
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Part V presents the combined FSs of GCs, by cluster, and the FSs of each GC, categorized as
GBE or non-GBE, by cluster.
Methodology of Combination
The financial information presented in this Report was derived from the FSs submitted by the
GCs and from the Annual Audit Reports (AARs) published in the COA website, as
reconciled, when applicable. The FSs of GCs were first combined by cluster of GCs
classified as GBEs and non-GBEs under the audit jurisdiction of the COA CGS which was
grouped into audit clusters pursuant to COA Resolution 2012-019 dated December 20, 2012,
as follows: Cluster 1 – Banking and Credit; Cluster 2 – Social Security Services and Housing;
Cluster 3 – Public Utilities; Cluster 4 – Industrial and Area Development; Cluster 5 –
Agricultural and Natural Resources; and Cluster 6 – Social, Cultural, Trading, Promotional
and Other Services.
For WDs, the individual components of the FSs were initially combined by province and
were further combined by region to arrive at the regional level combination. The two-level
combinations (provincial and regional) were submitted by the respective COA Regional
Offices while the WD national level combination, composed of 17 regions, was prepared by
the GAS.
The GCs prepared their FSs in accordance with applicable financial reporting frameworks,
particularly: Philippine Financial Reporting Standards for GBEs, Philippine Public Sector
Accounting Standards for non-GBEs, and the generally accepted state accounting principles
for the Human Settlement Development Corporation and the Intercontinental Broadcasting
Corporation.
All amounts presented in this Report are expressed in Philippine peso, rounded off to the
nearest thousands (P000), unless otherwise stated. The difference between the totals and sum
of components presented in the tables is due to rounding off.
Financial Highlights
For CY 2018, GCs had a combined total assets of P13.309 trillion, total liabilities of P9.430
trillion and net equity of P3.879 trillion. These amounts are greater than CY 2017 total assets
of P12.609 trillion by P700.30 billion or 5.55 percent, total liabilities of P8.952 trillion by
P478.44 billion or 5.34 percent, and total equity of P3.657 trillion by P221.86 billion or 6.07
percent.
Total revenue of P1.463 trillion was higher by P284.87 billion or 24.18 percent than the
previous year’s amount of P1.178 trillion, while the total expenses of P1.159 trillion
increased by P213.80 billion or 22.63 percent from the previous year’s expenses of P944.85
billion.
Total income tax expense of P30.22 billion was higher by P17.13 billion or 130.89 percent
than P13.09 billion in previous year. Net Assistance/Subsidy received by GCs totaling P34.88
billion was less by P28.25 billion or 44.75 percent compared with the previous year’s balance
of P63.12 billion.
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Total comprehensive income realized by GCs of P254.74 billion was less by P35.45 billion or
12.22 percent compared with P290.19 billion in CY 2017.
Guide to Users
For improved financial reporting and greater transparency, the electronic copy of this Report,
and the complete details of the audit observations and recommendations concerning each GC
and WD are presented in their individual AARs which are published in the COA website
www.coa.gov.ph.
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CY 2018 Annual Financial Report for
Volume I
Table of Contents
Part I – Financial Highlights
 Financial Position............................................................................................. 1
 Financial Performance ..................................................................................... 7
 Cash Flows ..................................................................................................... 10
 Comparison of Budget and Actual Amounts ................................................. 12
Part II – Combined Financial Statements
 Combined Statement of Financial Position.................................................... 13

 Combined Statement of Comprehensive Income .......................................... 15
 Combined Statements of Changes in Net Assets/Equity ............................... 16
 Combined Statement of Cash Flows .............................................................. 18
 Combined Statement of Comparison of Budget and Actual Amounts ......... 19
 Notes to Combined Financial Statements ...................................................... 20
Part III – Schedules and Annexes
Schedule
1 - Top 30 Government Corporations in Total Assets ........................................ 102
2 - Top 30 Government Corporations in Total Liabilities .................................. 103
3 - Top 30 Government Corporations in Total Net Assets/Equity ..................... 104
4 - Top 30 Government Corporations in Total Income ...................................... 105
5 - Top 30 Government Corporations in Total Expenses ................................... 106
6 - Aging of Accounts Receivable ...................................................................... 107
7 - Inter-Agency Receivables.............................................................................. 112
8 - Aging of Unliquidated Cash Advances for Operating Expenses .................. 116
9 - Aging of Unliquidated Cash Advances for Payroll ....................................... 117
10 - Aging of Unliquidated Cash Advances to Special Disbursing Officers ........ 119
11 - Aging of Unliquidated Cash Advances to Officers and Employees ............. 121
12 - Summary of Property, Plant and Equipment ................................................. 124
13 - Aging of Accounts Payable ........................................................................... 145
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14 - Inter-Agency Payables ................................................................................... 150
15 - Breakdown of Domestic Loans ..................................................................... 160
16 - Breakdown of Foreign Borrowings ............................................................... 163
17 - Income and Other Taxes Paid to the National Government .......................... 166
18 - Dividend Remittances to the National Government ...................................... 169
19 - Subsidy Income from the National Government ........................................... 171
20 - Summary of Representation, Extraordinary and Miscellaneous
Expenses, Advertising, Promotional and Marketing Expenses,
Confidential, Intelligence and Consultancy Services ............................... 173
Annexes
A - Summary of Data of Government Corporations by Cluster
(Name/Acronym/Parent/Controlling/Office Address) ............................. 178
B - Summary of Functions of Government Corporations ................................... 186
C - List of Government Corporations with Acronym and Status of Audit ......... 197
D - List of Government Corporations and Accounting Standards Adopted ....... 202
E - List of Government Corporations with Unsubmitted Financial
Statements ................................................................................................ 206
Part IV – Summary of Audit Results
 Summary of Audit Results ........................................................................... 207

 Summary of Audit Opinions ........................................................................ 207
 Summary of Significant and Common Audit Observations and
 Corresponding Recommendations ............................................................... 209
 Suspensions, Disallowances and Charges.................................................... 347
 Summary of Implementation of Prior Years’ Audit Recommendations ..... 348
Part V – Financial Statements
A. Combined Financial Statements, by Cluster

 Combined Statement of Financial Position.................................................. 386
 Combined Statement of Comprehensive Income ........................................ 389
 Combined Statement of Changes in Net Assets/Equity............................... 392
 Combined Statement of Cash Flows ............................................................ 398
 Combined Statement of Comparison of Budget and Actual Amounts ........ 404
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B. Financial Statements by Government Corporations
 Statement of Financial Position ................................................................... 408
 Statement of Comprehensive Income .......................................................... 488
 Statement of Changes in Net Assets/Equity ................................................ 538
 Statement of Cash Flows ............................................................................. 602
 Statement of Comparison of Budget and Actual Amounts .......................... 702
Table
I-1 Comparative Composition of Current Assets................................................. 2
I-2 Comparative Composition of Non-Current Assets ........................................ 3
I-3 Comparative Composition of Current Liabilities ........................................... 4
I-4 Comparative Composition of Non-Current Liabilities .................................. 5
I-5 Comparative Composition of Net Assets/Equity ........................................... 6
I-6 Comparative Composition of Income ............................................................ 8
I-7 Comparative Composition of Expenses ......................................................... 9
I-8 Comparative Cash Flows, by Activity ......................................................... 11
IV-1 Summary of Selected Significant and Peculiar Audit Observations
and Recommendations of Government Corporations in the
NCR and Stand-Alone Agencies in the Regions .................................. 210
IV-2A Summary of Common and Significant Observations and
Recommendations of Government Corporations in NCR and
Stand-Alone Agencies in the Regions .................................................. 261
IV-2B Summary of Common and Significant Observations and
Recommendations (Water Districts in the Regions) ............................ 285
IV-3 Status of Issuance and Settlement of Audit Suspensions,
Disallowances and Charges .................................................................. 348
IV-4A Checklist of Common Audit Observations in the Audit of
Gender and Development Funds ......................................................... 350
IV-4B Sectoral Consolidated Audited Observations on Gender and
Development Funds .............................................................................. 351
IV-5 Tabulation of Audit Opinions Rendered .................................................... 377
IV-6 Status of Implementation of Prior Years’ Audit Recommendations .......... 381
Chart
I-1 Comparative Financial Position ..................................................................... 1
I-2 Classification of Total Assets ........................................................................ 2
I-3 Classification of Total Liabilities .................................................................. 4
I-4 Components of Net Assets/Equity ................................................................ 6
I-5 Composition of Income ................................................................................. 7
I-6 Composition of Combined Expenses ............................................................ 9
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I-7 Comparative Cash Inflows and Outflows ................................................... 11
IV-1 Total Opinions Rendered per Type ........................................................... 209
IV-2 Status of Implementation of Prior Years’ Audit
Recommendations .............................................................................. 349
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ACRONYMS
AAIIBP Al-Amanah Islamic Investment Bank of the Philippines

AAR Annual Audit Report
AC Accounts for Clearing
ACA Accredited Collecting Agent
AFAB Authority of the Freeport Area of Bataan
AFD Administrative and Finance Division
AFPRSBS AFP Retirement and Separation Benefits System
AFR Annual Financial Report
AFS Available for Sale
AGDB Authorized Government Depository Banks
AMPI Alphaland Makati Place, Inc.
AO Administrative Officer
AOR Agency Outsourcing Requests
APECO Aurora Pacific Economic Zone and Freeport Authority
APME Advertising, Promotional, and Marketing Expenses
APO APO Production Unit, Inc.
APO-UGEC JV APO-United Graphic Expression Corporation Joint Venture
APP Annual Procurement Plan
ASDI Alabang- Sto.Tomas Development, Incorporated
ATM Automated Teller Machines
BAC Bids and Awards Committee
BAP Bankers' Association of the Philippines
BCDA Bases Conversion and Development Authority
BFI Bukidnon Forests, Incorporated
BIR Bureau of Internal Revenue
BLCI Batangas Land Company, Incorporated
BMHI BCDA Management and Holdings, Incorporated
BOD Board of Directors
BR Board Resolution
BRS Bank Reconciliation Statements
BSP Bangko Sentral ng Pilipinas
BSoP Boy Scouts of the Philippines
BTr Bureau of the Treasury
BUR Budget Utilization Request
CA Cash Advance
CAAP Civil Aviation Authority of the Philippines
CAD Claims Adjustment Division
CB-BOL Central Bank - Board of Liquidators
CCP Cultural Center of the Philippines
CCR Consolidated Claims Registers
CCT Certificates of Title
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ACRONYMS
CDC Clark Development Corporation
CDCP-FC CDCP Farms Corporation
CDF Corn Development Fund
CDR Cash Disbursement Record
CECWECI California Energy Casecnan Water Electric Company, Inc.
CEZA Cagayan Economic Zone Authority
ChO Change Orders
CkDR Check Disbursement Record
CFI Corregidor Foundation, Inc.
CGS Corporate Government Sector
CIAC Clark International Airport Corporation
CIC Credit Information Corporation
CIP Construction in Progress
CITEM Center for International Trade Expositions and Missions
COA Commission on Audit
COE COA Order of Execution
COB Corporate Operating Budget
COCOLIFE Coconut Planter’s Life Assurance Corporation
COR Certificate of Registration
CPA Cebu Ports Authority
CPR Consolidated Premium Registers
CRR Cash Receipt Record
CSO Civil Society Organization
CTE Contract Time Extension
CTS Contract To Sell
CY Calendar Year
DAP Development Academy of the Philippines
DBM Department of Budget and Management
DBP Development Bank of the Philippines
DBPMC DBP Management Corporation
DC Department Circular
DCI DBP Data Center Inc.
DFPC Duty Free Philippines Corporation
DISCCBGSI DISC Contractors Builders and General Services, Inc.
DOF Department of Finance
DOJ Department of Justice
DOTr Department of Transportation
DMF Dairy Multiplier Farm
DCPR Daily Cash Position Report
DPBLC DBP Leasing Corporation
DRRM Disaster Risk Reduction and Management
DV Disbursement Vouchers
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ACRONYMS
ECC Employees' Compensation Commission
ECL Expected Credit Losses
EIR Effective Interest Rate
EPAMS Engineering Permit and Monitoring System
FCDUs Foreign Currency Deposit Units
FCIEI First Cavite Industrial Estate, Incorporated
FLM First Level Maintenance
FOREX Foreign Exchange
FS Financial Statement
FTI Food Terminal, Inc.
FVOCI Fair Value through Other Comprehensive Income
FVPL Fair Value through Profit or Loss
GAA General Appropriations Act
GAD Gender and Development
GAS Government Accountancy Sector
GBE Government Business Entity
GC Government Corporation
GCG Governance Commission for Government-Owned or Controlled
Corporation
G-to-G Government-to-Government
G-to-P Government-to-Private
GIF General Insurance Fund
GIP Gross Insurance Premiums
GL General Ledger
GPB GAD Plan and Budget
GPPB Government Procurement Policy Board
GRAM Generation Rate Adjustment Mechanism
GSIS Government Service Insurance System
GYREI GY Realty Estate, Incorporated
HCI Health Care Institutions
HDMF Home Development Mutual Fund
HGC Home Guarantee Corporation
HSDC Human Settlements Development Corporation
HTM Held to Maturity
IA Implementing Agencies
IBC 13 Intercontinental Broadcasting Corporation
ICERA Incremental Currency Exchange Rate
ICS Inventory Custodian Slip
IIGSI Inter-Island Gas Services, Incorporated
IMF International Monetary Fund
IRR Implementing Rules and Regulations
JHMC John Hay Management Corporation
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ACRONYMS
JEV Journal Entry Voucher
JV Joint Venture
JVA Joint Venture Agreement
JVC Joint Venture Company
KRC Kamayan Realty Corporation
LBP Land Bank of the Philippines
LBRDC LBP Resources and Development Corporation
LCA Land Compensation Amount
LCDFI LBP Countryside Development Foundation Inc.
LCP Lung Center of the Philippines
LGUs Local Government Units
LIBI LBP Insurance Brokerage, Inc.
LLDA Laguna Lake Development Authority
LLFC LBP Leasing and Finance Corporation
LRA Loan Restructured Agreement
LRTA Light Rail Transit Authority
LWUA Local Water Utilities Administration
MAP Masterlist of Approved Participants
MCA-P Millennium Challenge Account - Philippines Inc.
MC Memorandum Circular
MCIAA Mactan-Cebu International Airport Authority
MCTEP Manila Cavite Toll Expressway Project
MDO Mill District Officer
MFP Masterlists of Farmer-Participants
MGC Manila Gas Corporation
MIAA Manila International Airport Authority
ML Management Letter
MNGAS Manual on the New Government Accounting System
MPFP Masterlist of Prospective Farmer-Participants
MOA Memorandum of Agreement
MRHI Marawi Resort Hotels, Incorporated
MSI Masaganang Sakahan Inc.
MT Metric Tons
MWSS Metropolitan Waterworks and Sewerage System
NAIA Ninoy Aquino International Airport
NBB No Balance Billing
NC Notice of Charge
NCC National Computer Center
ND Notice of Disallowance
NDA National Dairy Authority
NDC National Development Company
NEA National Electrification Administration
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ACRONYMS
NEDA National Development Authority
NFA National Food Authority
NFC Northern Foods Corporation
NFPC Navotas Fish Port Complex
NGCP National Grid Corporation of the Philippines
NGOs Non-Government Organization
NHA National Housing Authority
NHIA National Health Insurance Act
NHMFC National Home Mortgage Finance Corporation
NIA National Irrigation Administration
NKTI National Kidney and Transplant Institute
NLPCSI Northeastern Luzon Pacific Coastal Service, Inc.
NORTHRAIL North Luzon Railways Corporation
NPC National Power Corporation
NPF Nayong Pilipino Foundation
NPIC NDC-Philippine Infrastructure Corporation
NRDC Natural Resources Development Corporation
NRW Non-revenue water
NS Notice of Suspension
NTA National Tobacco Administration
OFBI Overseas Filipino Bank, Incorporated
OR Official Receipt
PABS PCIC Automated Business System
PAC Production Assessment Charge
PADC Philippine Aerospace Development Corporation
PAGCOR Philippine Amusement and Gaming Corporation
PAR PhilHealth Agents Receipt
PAS Philippine Accounting Standards
PBB Performance-based Bonus
PCA Philippine Coconut Authority
PCED Philippine Center for Economic Development
PCF Petty Cash Fund
PCIC Philippine Crop Insurance Corporation
PCMC Philippine Children's Medical Center
PCW Philippine Commission on Women
PCSO Philippine Charity Sweepstakes Office
PD Presidential Decree
PDA Partido Development Administration
PDGCC Palacio Del Gobernador Condominium Corporation
PDIC Philippine Deposit Insurance Corporation
PDS Philippine Dealing System
PEATC PEA Tollway Corporation
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ACRONYMS
PEZA Philippine Economic Zone Authority
PFDA Philippine Fisheries Development Authority
PFRS Philippine Financial Reporting Standards
PFRSC Philippine Financial Reporting Standards Council
PGIAM Philippine Government Internal Audit Manual
PGCA Philippine Government Chart of Accounts
PHC Philippine Heart Center
PHIC Philippine Health Insurance Corporation
PHILSUCOR Philippine Sugar Corporation
PHILMAIZE Philippine Maize Federation Inc.
PIA PHIVIDEC Industrial Authority
PIC Philippine Interpretations Committee
PICCI Philippine International Convention Corporation Inc.
PIDS Philippine Institute for Development Studies
PITAHC Philippine Institute of Traditional and Alternative Health Care
PITC Philippine International Trading Corporation
PMDC Philippine Mining Development Corporation
PMIO Planning and Management Information Office
PMRR Presumptive Monthly Retail Receipts
PNCC Philippine National Construction Corporation
PNOC Philippine National Oil Company
PNOC-AFC PNOC Alternative Fuels Corporation
PNOC-DMC PNOC Development and Management Corporation
PNOC-EC PNOC Exploration Corporation
PNOC-RC PNOC Renewables Corporation
PNOC-STC PNOC Shipping and Transport Corporation
PNR Philippine National Railways
PNSDW Philippine National Standards for Drinking Water
PO Purchase Order
PPA Philippine Ports Authority
PPC Philippine Postal Corporation
PPE Property, Plant and Equipment
PPLC Plant and Equipment Ledger Cards
PPMC Poro Point Management Corporation
PPMP Project Procurement Management Plan
PPPI Philippine Pharma Procurement, Inc
PPSAS Philippine Public Sector Accounting Standards
PPSBI Philippine Postal Savings Bank Inc.
PRA Philippine Retirement Authority
PRAISE Program on Awards and Incentives for Service Excellence
PRC Pinagkaisa Realty Corporation
PRecA Philippine Reclamation Authority
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ACRONYMS
PRI Panay Railways Incorporated
PRO PhilHealth Regional Office
PRRI Philippine Rice Research Institute
PSALM Power Sector Assets and Liabilities Management Corporation
PTNI People's Television Network, Inc.
QUEDANCOR Quedan and Rural Credit Guarantee Corporation
RA Republic Act
RATA Representation and Transportation Allowances
RBUs Regular Banking Units
RCA Revised Chart of Accounts
RCD Report of Collections and Deposits
RCPI Report of Physical Count Inventory
RMC Revenue Memorandum Circular
RO Regional Office
SAO Stock Accountable Officer
SA Source Agencies
SBGFC Small Business Guarantee and Finance Corporation
SBMA Subic Bay Metropolitan Authority
SCAD Subic-Clark Alliance for Development
SCBAA Statement of Comparison of Budget and Actual Amounts
SCF Statement of Cash Flows
SCI Statement of Comprehensive Income
SCNA/E Statement of Net Assets/Equity
SCP Socialized Credit Program
SCE Securities and Exchange Commission
SFPer Statement of Financial Performance
SFPos Statement of Financial Position
SHFC Social Housing Finance Corporation
SP Service Provider
SPDA Southern Philippines Development Authority
SRA Sugar Regulatory Administration
SSS Social Security System
SUMSI Southern Utilities Management and Services Inc.
TCT Transfer Certificate of Title
TDEM Treasury Data Editing Module
TIDCORP Trade and Investment Development Corporation of the Philippines
TIEZA Tourism Infrastructure and Enterprise Zone Authority
TIN Tax Identification Number
TOLA Tolerable Allowance
TOR Terms of Reference
TPB Tourism Promotions Board
TransCo National Transmission Corporation
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ACRONYMS
UBR Unclaimed Benefits Refunds
UC Undistributed Collections
UV Ultra Violet
VFP Veterans Federation of the Philippines
VTA Voting Trust Agreement
WAER Weighted Average Exchange Rate
WD Water District
ZCSEZA Zamboanga City Special Economic Zone Authority
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PART I
FINANCIAL HIGHLIGHTS
PART I - FINANCIAL HIGHLIGHTS
Financial Position
The aggregate assets and liabilities as at December 31, 2018 of government corporations
(GCs), including water districts (WDs) were P13.309 trillion and P9.430 trillion, respectively,
resulting in total net assets/equity of P3.879 trillion. Compared to calendar year (CY) 2017,
there were increases in assets, liabilities and net assets/equity of 5.55 percent, 5.34 percent
and 6.07 percent, respectively. Chart I-1 shows the graphical comparison of the financial
position of GCs, including WDs for CYs 2018 and 2017.
Chart I-1 Comparative Financial Position

CYs 2018 and 2017
(in billion pesos)
14,000 13,308.97
12,608.67
12,000
10,000 9,430.19
8,951.74
8,000
6,000
3,878.78 3,656.92
4,000
2,000
-
Total Assets Total Liabilities Total Net Assets/Equity
2018 2017
Assets – P13.309 trillion
Total assets of P13.309 trillion registered an increase of P700.30 billion or 5.55 percent from
previous year of P12.609 trillion. It is composed of current assets of P7.219 trillion and non-
current assets of P6.090 trillion, which are 54.24 percent and 45.76 percent of total assets,
respectively. The three GCs with highest amount of total assets are: Bangko Sentral ng
Pilipinas (BSP) with P4.851 trillion, Land Bank of the Philippines (LBP) with P1.878 trillion
and Government Service Insurance System (GSIS) with P1.134 trillion, or 36.45 percent,
14.11 percent and 8.52 percent of total assets, respectively. Schedule 1 of this Report shows
the top 30 GCs in total assets. Chart I-2 shows the classification of total assets.
1
Chart I-2 Classification of Total Assets
CY 2018
(in trillion pesos)
7.219 6.090
54.24 % 45.76 %
Current Assets Non-Current Assets
Current Assets – P7.219 trillion
Current assets of P7.219 trillion decreased by P517.94 billion or 6.69 percent from the CY
2017 total of P7.737 trillion. It substantially consists of International Reserves of P4.140
trillion or 57.35 percent of the current assets which was reported solely by the BSP for its
deposits with foreign banks consisting of demand and time deposits; investment securities
consisting of marketable foreign securities; foreign securities purchased under agreements to
resell; loan to the International Monetary Fund (IMF) representing calls on the new
arrangement to borrow; IMF special drawing rights; gold; and other cash balances. The
second account with substantial amount is Receivables of P1.380 trillion or 19.12 percent,
and the third account is Cash and Cash Equivalents of P921.78 billion or 12.77 percent of the
total current assets. Most of the current assets accounts registered decreases compared with
CY 2017 balances, as shown in Table I-1.
Table I-1 Comparative Composition of Current Assets

CYs 2018 and 2017
(in million pesos)
Amount Percent
Particulars 2018 2017 Increase/ Increase/
(Restated) (Decrease) Decrease
Cash and Cash Equivalents 921,784.09 867,710.46 54,073.63 6.23
International Reserves 4,140,162.68 4,056,596.05 83,566.63 2.06
Financial Assets 539,983.64 1,006,433.74 (466,450.10) 46.35
Other Investments 56,398.29 73,215.23 (16,816.93) 22.97
Receivables 1,380,133.04 1,554,785.21 (174,652.17) 11.23
Inventories 97,649.13 84,964.67 12,684.46 14.93
Non-Current Assets Held for Sale 10,664.89 13,331.62 (2,666.73) 20.00
Other Current Assets 71,948.97 79,623.59 (7,674.61) 9.64
Total 7,218,724.73 7,736,660.57 (517,935.83) 6.69
2
Non-current Assets – P6.090 trillion
Non-current assets of P6.090 trillion increased by P1.218 trillion or 25.00 percent from CY
2017 total of P4.872 trillion. It substantially consists of Receivables of P2.077 trillion,
Financial Assets of P1.963 trillion, and Property, Plant and Equipment of P1.151 trillion
which are 34.10 percent, 32.23 percent, and 18.89 percent of total non-current assets,
respectively. Table I-2 shows the comparative composition of non-current assets for CYs
2018 and 2017.
Table I-2 Comparative Composition of Non-Current Assets

CYs 2018 and 2017
(in million pesos)
Amount Percent
Non-International Reserves
Foreign Assets 93,407.62 91,737.57 1,670.04 1.82
Financial Assets 1,962,780.41 1,368,154.76 594,625.65 43.46
Investments in Joint Venture 6,679.90 7,101.68 (421.78) 5.94
Investments in
Associates/Affiliates 17,189.59 17,421.21 (231.63) 1.33
Investments in Subsidiaries 183,274.26 245,757.47 (62,483.21) 25.42
Other Investments 136,512.00 127,020.64 9,491.36 7.47
Receivables 2,076,908.51 1,536,810.82 540,097.69 35.14
Investment Property 355,211.21 324,297.44 30,913.77 9.53
Property, Plant and Equipment 1,150,687.83 1,043,380.86 107,306.97 10.28
Biological Assets 658.17 658.43 (0.26) 0.04
Intangible Assets 3,438.42 3,779.22 (340.80) 9.02
Deferred Tax Assets 15,878.32 18,093.34 (2,215.02) 12.24
Other Non-Current Assets 87,615.22 87,791.20 (175.98) 0.20
Total 6,090,241.46 4,872,004.66 1,218,236.80 25.00
Liabilities – P9.430 trillion
Total Liabilities for CY 2018 of P9.430 trillion increased by P478.44 billion or 5.34 percent
compared with CY 2017 total of P8.952 trillion. It is composed of current liabilities of P4.167
trillion and non-current liabilities of P5.263 trillion, which are 44.19 percent and 55.81
percent of total liabilities, respectively, as shown in Chart I-3. The three GCs with highest
amount of total liabilities are: BSP with P4.735 trillion, LBP with P1.743 trillion, and Power
Sector Assets and Liabilities Management (PSALM) with P714.70 billion, or 50.21 percent,
18.48 percent and 7.58 percent, respectively. Schedule 2 presents the top 30 GCs in total
liabilities.
3
Chart I-3 Classification of Total Liabilities
CY 2018
(in trillion pesos)
5.263
55.81%
4.167
44.19%
Current Liabilities Non-Current Liabilities
Current Liabilities – P4.167 trillion
Total current liabilities of P4.167 trillion increased by P261.11 billion or 6.68 percent from
CY 2017 total of P3.906 trillion. The biggest portion of current liabilities for CY 2018
pertained to Deposit Liabilities of P2.263 trillion or 54.30 percent, of which the LBP’s
P1.642 trillion shared 72.56 percent. This group of accounts also consists: of Foreign
Currency Deposits and Demand Deposit-Others, both reported solely by the BSP; Time
Certificates of Deposit solely reported by LBP; and Savings Deposit and Demand Deposit
shared by LBP, Development Bank of the Philippines (DBP) and BSP. Table I-3 shows the
comparison of current liabilities for CYs 2018 and 2017.
Table I-3 Comparative Composition of Current Liabilities

CYs 2018 and 2017
(in million pesos)
Amount Percent
Financial Liabilities 776,772.49 699,586.87 77,185.62 11.03
Deposit Liabilities 2,262,981.07 2,136,274.12 126,706.95 5.93
Inter-Agency Payables 595,226.38 567,312.80 27,913.58 4.92
Intra-Agency Payables 304,672.84 305,477.56 (804.72) 0.26
Trust Liabilities 91,308.84 68,532.17 22,776.67 33.24
Deferred Credits/Unearned
Income 35,478.70 38,761.92 (3,283.22) 8.47
Provisions 12,370.33 11,472.50 897.83 7.83
Other Payables 88,404.64 78,690.42 9,714.22 12.34
Total 4,167,215.29 3,906,108.35 261,106.94 6.68
4
Non-Current Liabilities – P5.263 trillion
Non-current liabilities of P5.263 trillion increased by P217.34 billion or 4.31 percent from
CY 2017 total of P5.046 trillion. The biggest portion of non-current liabilities for CY 2018
pertained to Deposit Liabilities of P2.056 trillion or 39.06 percent, of which BSP shared
P1.949 trillion or 94.79 percent, consisting of accounts Demand Deposit-Reserves, Demand
Deposit-Others, Fixed-term Deposit, and International Financial Institutions. Other accounts
under Deposit Liabilities such as Demand Deposit, Savings Deposit, Time Certificates of
Deposit and Long-term Negotiable Certificates of Deposit were substiantially shared by the
Overseas Filipino Bank, Inc. (OFBI), DBP and LBP.
The next biggest portion of non-current liabilities pertained to Currency Issued of P1.490
trillion or 28.32 percent which represents Philippine currency notes and coins issued by the
BSP. Table I-4 shows the comparison of CYs 2018 and 2017 non-current liabilities.
Table I-4 Comparative Composition of Non-Current Liabilities

CYs 2018 and 2017
(in million pesos)
Amount Percent
Financial Liabilities 744,604.68 820,707.72 (76,103.04) 9.27
Currency Issued 1,490,240.29 1,267,269.74 222,970.55 17.59
Deposit Liabilities 2,055,796.87 2,124,599.49 (68,802.62) 3.24
Inter-Agency Payables 29,617.89 33,001.38 (3,383.50) 10.25
Intra-Agency Payables 18.44 20.65 (2.22) 10.73
Trust Liabilities 57,983.70 51,638.83 6,344.87 12.29
Deferred Credits/Unearned
Income 281,835.19 296,575.03 (14,739.84) 4.97
Provisions 35,835.69 34,618.86 1,216.83 3.51
Deferred Tax Liabilities 13,493.57 12,596.30 897.27 7.12
Other Payables 553,544.79 404,606.08 148,938.71 36.81
Total 5,262,971.11 5,045,634.09 217,337.02 4.31
With total liabilities of P9.430 trillion and total assets of P13.309 trillion, the debt/asset ratio
of GCs was 0.71. Total liabilities divided by total assets or the debt/asset ratio shows the
proportion of an entity’s assets which are financed through debt. If the ratio is less than 0.5,
most of the entity’s assets are financed through equity. If the ratio is greater than 0.5, most of
the entity's assets are financed through debt.
Net Assets/Equity – P3.879 trillion
In CY 2018, the net assets/equity of the combined financial position of the GCs, including
WDs, in the amount of P3.879 trillion registered an increase of P221.86 billion or 6.07
percent than the previous year of P3.657 trillion. The Retained Earnings of P2.450 trillion
shared 63.16 percent of net assets/equity, of which GSIS shared P1.137 trillion or 46.39
percent. Table 1-5 shows the comparative amounts of the components of Net Assets/Equity
for CYs 2018 and 2017.
5
Table I-5 Comparative Composition of Net Assets/Equity
CYs 2018 and 2017
(in million pesos)
Amount Percent
Government Equity 581,288.67 637,232.35 (55,943.68) 8.78
Revaluation Surplus 185,509.50 121,072.07 64,437.43 53.22
Retained Earnings/(Deficit) 2,449,943.16 2,228,039.38 221,903.77 9.96
Stockholders' Equity 284,962.36 276,850.35 8,112.01 2.93
Cumulative Translation
Adjustment 255.43 (1.22) 256.65 21,044.16
Cumulative Changes in Fair
Value (32,889.10) 31,519.85 (64,408.94) 204.34
Members' Equity 409,709.78 362,210.01 47,499.77 13.11
Total 3,878,779.79 3,656,922.78 221,857.01 6.07
Chart I-4 shows the graphical comparison of the components of net assets/equity for CY
2018.
Chart I-4 Components of Net Assets/Equity

CY 2018
(in billion pesos)
Revaluation Surplus - 185.51 Retained Earnings/(Deficit) - 2,449.94

4.78 % 63.16%
Government Equity - 581.29

14.99 %
Stockholders' Equity - 284.96

Members' Equity - 409.71
7.35%
10.56%
Cumulative Changes in Fair Value - (32.89) Cumulative Translation Adjustment - 0.26

-0.85% 0.01%
The three GCs with highest amount of total Net Assets/Equity are: GSIS - P1.113 trillion,
Social Security System (SSS) - P498.36 billion, and Home Development Mutual Fund
(HDMF) - P476.83 billion, or 28.68 percent, 12.85 percent and 12.29 percent, respectively.
Schedule 3 presents the top 30 GCs in net assets/equity.
6
Financial Performance
The aggregate comprehensive income of GCs for CY 2018 was P254.74 billion, which was
P35.45 billion or 12.22 percent lower than the P290.19 billion earned in CY 2017. Combined
income and combined expenses for CY 2018 amounted to P1.463 trillion and P1.159 trillion,
respectively. GCs incurred income tax expense amounting to P30.22 billion. Of the P254.74
billion comprehensive income, P34.88 billion or 13.69 percent was sourced from net
assistance/subsidy. The top 30 GCs ranked in total income and total expenses are presented in
Schedules 4 and 5, respectively.
Income – P1.463 trillion
The combined total income of GCs of P1.463 trillion in CY 2018 increased by P284.87
billion or 24.18 percent compared to CY 2017 total income of P1.178 trillion. The
composition of total income for CY 2018 is shown in Chart I-5.
Chart I-5 Composition of Income

CY 2018
(in billion pesos)
Shares, Grants and

Donations - 30.78
2.10%
Gains - 305.51
Service and Business 20.88%
Income - 1,102.37
75.35%
Other Non-Operating
Income - 21.23
1.45%
Tax Revenue - 3.18

0.22%
7
Table I-6 shows the comparative composition of income for CYs 2018 and 2017.
Table I-6 Comparative Composition of Income

CYs 2018 and 2017
(in million pesos)
Amount Percent
Particulars 2017 Increase/ Increase/
2018 Decrease
(Restated) (Decrease)
Tax Revenue 3,181.86 2,852.45 329.41 11.55
Service and Business Income 1,102,367.45 961,339.68 141,027.77 14.67
Shares, Grants and Donations 30,778.22 20,180.94 10,597.28 52.51
Gains 305,514.35 165,684.54 139,829.81 84.40
Other Non-Operating Income 21,228.42 28,146.92 (6,918.51) 24.58
Total 1,463,070.30 1,178,204.54 284,865.76 24.18
Of the total Service and Business Income of P1,102.37 billion for CY 2018 or 75.35 percent
of the total income, SSS reported the highest amount of P209.80 billion or 19.03 percent,
followed by GSIS at P178.45 billion or 16.19 percent.
The increase in Gains of P139.83 billion or 84.40 percent compared with CY 2017 of
P165.68 billion was attributed to the substantial increase in Gain on Foreign Exhange of
P114.42 billion or 81.83 percent.
The top 10 GCs with total income of P1.209 trillion or 82.65 percent of combined income for
CY 2018 of P1.463 trillion are as follows:
Amount Percent to
Name of Government Corporations
(in thousand pesos) total
Government Service Insurance System 348,249,903 23.80
Social Security System 217,063,790 14.84
Bangko Sentral ng Pilipinas 140,569,273 9.61
Philippine Amusement and Gaming Corporation 104,655,243 7.15
Power Sector Assets and Liabilities Management 100,248,695 6.85
Philippine Health Insurance Corporation 81,338,370 5.56
Land Bank of the Philippines 67,161,430 4.59
Philippine Charity Sweepstakes Office 63,097,327 4.31
Home Development Mutual Fund 52,822,290 3.61
Philippine Deposit Insurance Corporation 34,061,238 2.33
Sub-total 1,209,267,559 82.65
Other GCs 253,802,741 17.35
Total 1,463,070,300 100.00
Expenses – P1.159 trillion
Combined expenses of P1.159 trillion for CY 2018 increased by P213.80 billion or 22.63
percent from CY 2017 total expenses of P944.85 billion. Chart I-6 shows the composition of
combined expenses for CY 2018.
8
Chart I-6 Composition of Combined Expenses
CY 2018
(in billion pesos)
Non-Cash Expenses - 303.17

26.17%
Maintenance and Other

Operating Expenses - 630.68 Direct Costs - 34.99
54.43% 3.02%
Personnel Services - 97.04

8.38%
Financial Expenses - 92.77

8.01%
The top four GCs that reported the highest Maintenance and Other Operating Expenses were
as follows: SSS – P183.03 billion or 29.02 percent, Philippine Health Insurance Corporation
(PHIC) – P123.00 billion or 19.50 percent, GSIS – 109.43 billion or 17.35 percent, and
PSALM – P58.45 billion or 9.27 percent. Table I-7 shows the comparative composition of
Expenses for CYs 2018 and 2017.
Table I-7 Comparative Composition of Expenses

CYs 2018 and 2017
(in million pesos)
Amount Percent
Particulars 2017 Increase/ Increase/
2018 Decrease
(Restated) (Decrease)
Personnel Services 97,041.57 89,504.07 7,537.49 8.42
Operating Expenses 630,680.49 569,677.81 61,002.68 10.71
Financial Expenses 92,765.32 91,529.55 1,235.77 1.35
Direct Costs 34,985.08 29,672.56 5,312.51 17.90
Non-Cash Expenses 303,169.68 164,461.83 138,707.86 84.34
Total 1,158,642.13 944,845.81 213,796.31 22.63
The increase in total expenses resulted from increases in all expense accounts, the highest of
which was for Non-Cash Expenses of P138.71 billion or 84.34 percent. Of the total increase
in non-cash expenses, P117.44 billion or 84.67 percent pertained to Losses.
9
The top 10 GCs with expenses totalling P983.02 billion or 84.84 percent are as follows:
Amount Percent to
Government Service Insurance System 284,225,151 24.53
Social Security System 194,584,038 16.79
Philippine Health Insurance Corporation 127,641,858 11.02
Power Sector Assets and Liabilities Management 108,173,284 9.34
Land Bank of the Philippines 50,409,999 4.35
Philippine Charity Sweepstakes Office 49,285,524 4.25
National Food Authority 30,783,442 2.66
Philippine Deposit Insurance Corporation 27,634,896 2.39
Water Districts 24,907,184 2.15
Sub-total 983,015,594 84.84
Other GCs 175,626,535 15.16
Total 1,158,642,128 100.00
Comprehensive Income – P254.74 billion
The CY 2018 combined comprehensive income of P254.74 billion was lower by P35.45
billion or 12.22 percent than the CY 2017 total of P290.19 billion. While there was an
increase in Profit after Tax of P53.94 billion, there were decreases in other comprehensive
income of P61.14 billion and net assistance/subsidy of P28.25 billion, or a total decrease of
P89.39 billion.
Cash Flows
The Statement of Cash Flows (SCF) summarizes all the cash activities of the GCs. It provides
information on the cash receipts or cash inflows and cash payments or cash outflows during
the year, classified as operating, investing, and financing activities. Operating activities
include cash generated from revenues and costs incurred excluding those associated with
long-term investments on capital items or investment in securities. Investing activities include
cash received from disposal of assets, investments in securities, as well as proceeds from the
subsequent sale of investments in securities and cash paid for acquiring capital assets.
Financing activities include cash received from debt holders and principal repayments to
creditors.
The cash and cash equivalents of P1.665 trillion as at December 31, 2018 showed an increase
of P209.15 billion compared to P1.456 trillion as at December 31, 2017. This was attributed
to the total net increase in cash flows from operating, investing and financing activities of
P64.54 billion and significant effects of exchange rate changes on cash and cash equivalents
of P144.60 billion as shown in Table I-8.
10
Table I-8 Comparative Cash Flows, by Activity
CYs 2018 and 2017
(in million pesos)
Amount Percent
Operating Activities
Cash Inflows 2,464,771.77 1,933,861.30 530,910.47 27.45
Cash Outflows 2,370,020.18 1,580,431.62 789,588.56 49.96
Net Cash Provided by/(Used in)
Operating Activities 94,751.60 353,429.68 (258,678.08) 73.19
Investing Activities
Cash Inflows 837,500.77 682,923.94 154,576.83 22.63
Cash Outflows 1,002,353.55 891,515.22 110,838.33 12.43
Investing Activities (164,852.78) (208,591.27) 43,738.50 20.97
Financing Activities
Cash Inflows 1,539,657.83 1,148,047.84 391,609.99 34.11
Cash Outflows 1,405,013.78 1,100,620.54 304,393.24 27.66
Financing Activities 134,644.05 47,427.30 87,216.75 183.90
Net Increase (decrease) in Cash
and Cash Equivalents 64,542.87 192,265.71 (127,722.84) 66.43
Effects of Exchange Rate Changes on
Cash and Cash Equivalents 144,602.99 25,113.51 119,489.48 475.80
Cash and Cash Equivalents,
January 1, 2018 1,455,715.44 1,238,336.22 217,379.22 17.55
Cash and Cash Equivalents,
December 31, 2018 1,664,861.30 1,455,715.44 209,145.86 14.37
Total cash inflows of P4.842 trillion increased by P1.077 trillion or 28.61 percent compared
to CY 2017 total of P3.765 trillion, while total cash outflows of P4.777 trillion was an
increase of P1.205 trillion or 33.72 percent from the previous year total outflows of P3.573
trillion. Chart I-7 shows the Comparative Cash Flows.
Chart I-7 Comparative Cash Inflows and Outflows

CYs 2018 and 2017
(in billion pesos)
6,000
5,000 4,841.93 4,777.39
4,000 3,764.83
3,572.57
3,000
2,000
1,000
144.60 25.11 209.15 217.38
-
Cash Inflows Cash Outflows Effects of FOREX Net Cash Provided
2018 2017
11
Comparison of Budget and Actual Amounts
Philippine Public Sector Accounting Standards (PPSAS) 24–Presentation of Budget

Information in the Financial Statements requires the Statement of Comparison of Budget and
Actual Amounts (SCBAA) as an additional component of the financial statements (FSs) for
non-government business enterprises (GBEs). Philippine Application Guidance No. 4 on
PPSAS 1–Presentation of Financial Statements provides that a separate additional FS for
comparison of budget and actual amounts shall be prepared, as the FSs and budget of national
government agencies, local government units and GCs classified as non-GBEs are not on the
same accounting basis.
Preparation of the SCBAA is also required to ensure that public sector entities shall discharge
their accountability obligations and enhance the transparency of their FSs by demonstrating
compliance with the approved budgets for which they are held publicly accountable.
Based on the combined CY 2018 SCBAA presented in Part II of this Report, the final
budgeted amount on Receipts and actual amount of receipts totaled P480.73 billion and
P305.88 billion, respectively, while final budgeted amount on Payments and actual amount of
payments amounted to P492.18 billion and P287.79 billion, respectively.
12
PART II
COMBINED
FINANCIAL STATEMENTS
Republic of the Philippines
Combined Statement of Financial Position
As at December 31, 2018
(in thousand pesos)
2018 2017
Note
(Restated)
ASSETS
Current Assets
Cash and Cash Equivalents 5 921,784,087 867,710,462
International Reserves 6 4,140,162,681 4,056,596,053
Financial Assets 7 539,983,642 1,006,433,739
Other Investments 8 56,398,294 73,215,226
Receivables 9 1,380,133,041 1,554,785,212
Inventories 10 97,649,125 84,964,666
Non-Current Assets Held for Sale 11 10,664,890 13,331,621
Other Current Assets 12 71,948,972 79,623,586
Total Current Assets 7,218,724,731 7,736,660,565
Non-Current Assets
Non-International Reserves Foreign Assets 13 93,407,616 91,737,574
Financial Assets 14 1,962,780,410 1,368,154,758
Investments in Joint Venture 15 6,679,898 7,101,676
Investments in Associates/Affiliates 16 17,189,588 17,421,214
Investments in Subsidiaries 17 183,274,261 245,757,474
Other Investments 18 136,512,002 127,020,644
Receivables 19 2,076,908,506 1,536,810,819
Investment Property 20 355,211,214 324,297,443
Property, Plant and Equipment 21 1,150,687,828 1,043,380,863
Biological Assets 22 658,174 658,433
Intangible Assets 23 3,438,421 3,779,223
Deferred Tax Assets 24 15,878,324 18,093,341
Other Non-Current Assets 25 87,615,216 87,791,199
Total Non-Current Assets 6,090,241,458 4,872,004,660
Total Assets 13,308,966,189 12,608,665,225
LIABILITIES
Current Liabilities
Financial Liabilities 26 776,772,492 699,586,874
Deposit Liabilities 27 2,262,981,066 2,136,274,118
Inter-Agency Payables 28 595,226,379 567,312,795
Intra-Agency Payables 29 304,672,844 305,477,560
Trust Liabilities 30 91,308,842 68,532,174
Deferred Credits/Unearned Income 31 35,478,699 38,761,915
Provisions 32 12,370,327 11,472,499
Other Payables 33 88,404,641 78,690,419
Total Current Liabilities 4,167,215,290 3,906,108,353
13
(in thousand pesos)
2018 2017
Note
(Restated)
Non-Current Liabilities
Financial Liabilities 34 744,604,680 820,707,721
Currency Issued 35 1,490,240,286 1,267,269,737
Deposit Liabilities 36 2,055,796,868 2,124,599,492
Inter-Agency Payables 37 29,617,887 33,001,382
Intra-Agency Payables 38 18,437 20,653
Trust Liabilities 39 57,983,702 51,638,834
Deferred Credits/Unearned Income 40 281,835,192 296,575,030
Provisions 41 35,835,693 34,618,860
Deferred Tax Liabilities 42 13,493,572 12,596,303
Other Payables 43 553,544,790 404,606,080
Total Non-Current Liabilities 5,262,971,108 5,045,634,091
Total Liabilities 9,430,186,399 8,951,742,444
EQUITY
Government Equity 581,288,670 637,232,349
Revaluation Surplus 185,509,501 121,072,068
Retained Earnings/(Deficit) 2,449,943,155 2,228,039,383
Stockholders' Equity 284,962,357 276,850,346
Cumulative Translation Adjustment 255,428 (1,220)
Cumulative Changes in Fair Value (32,889,097) 31,519,847
Members' Equity 409,709,776 362,210,007
Total Net Assets/Equity 44 3,878,779,791 3,656,922,781
Total Liabilities and Net Assets/Equity 13,308,966,189 12,608,665,225
The notes on pages 42 to 80 form part of these statements.
14
Combined Statement of Comprehensive Income
For the Year Ended December 31, 2018
(in thousand pesos)
NOTE 2018 2017

(Restated)
Income
Tax Revenue 45 3,181,864 2,852,449
Service and Business Income 46 1,102,367,449 961,339,684
Shares, Grants and Donations 47 30,778,217 20,180,941
Gains 48 305,514,352 165,684,538
Other Non-Operating Income 49 21,228,419 28,146,923
Total Income 1,463,070,300 1,178,204,536
Expenses
Personnel Services 50 97,041,567 89,504,073
Maintenance and Other Operating Expenses 51 630,680,486 569,677,805
Financial Expenses 52 92,765,319 91,529,547
Direct Costs 53 34,985,075 29,672,563
Non-Cash Expenses 54 303,169,682 164,461,827
Total Expenses 1,158,642,128 944,845,814
Profit/(Loss) Before Tax 304,428,171 233,358,722

Income Tax Expense 55 30,220,565 13,088,794
Profit/(Loss) After Tax 274,207,606 220,269,927
Net Assistance/Subsidy 56 34,876,065 63,124,636
Net Income/(Loss) 309,083,671 283,394,564
Other Comprehensive Income/
(Loss) for the Period 57 (54,342,237) 6,799,456
Comprehensive Income/(Loss) 58 254,741,434 290,194,020
15
Combined Statement of Changes in Net Assets/Equity
For the year ended December 31, 2018
(in thousand pesos)
Cumulative
Retained Cumulative
Government Revaluation Stockholders' Changes in Members'
Earnings/ Translation TOTAL
Equity Surplus Equity Fair Value of Equity
(Deficit) Adjustment
Investments
Note
BALANCE AT JANUARY 1, 2017 545,266,922 220,274,514 2,061,069,712 248,675,881 13,341 24,664,489 318,372,760 3,418,337,619
ADJUSTMENTS: 47,016,541 (109,007,526) (39,700,465) - - 74,536 - (101,616,914)

Add/(Deduct):
Changes in Accounting Policy 50,064,357 (98,718,800) (5,877,617) - - 90,192 - (54,441,868)
Prior Period Errors 11,678,120 (3,675,135) (14,159,979) - - - - (6,156,994)
Other Adjustments (14,725,935) (6,613,591) (19,662,869) - - (15,656) - (41,018,051)
RESTATED BALANCE AT JANUARY 1, 2017 592,283,463 111,266,988 2,021,369,247 248,675,881 13,341 24,739,025 318,372,760 3,316,720,705
16
CHANGES IN EQUITY FOR 2017 44,948,886 9,805,079 206,670,136 28,174,465 (14,561) 6,780,822 43,837,247 340,202,075
Add/(Deduct):
Issuances of Share Capital - - - 361,415 - - - 361,415
Additional Capital from National Government 1,955,995 - - 3,181,000 - - - 5,136,995
Members' Contribution - - - - - - 33,880,667 33,880,667
Surplus/(Deficit) for the period 45,052,241 - - - - - - 45,052,241
Net Income/(loss) for the year - - 238,342,322 - - - - 238,342,322
Other Comprehensive Income/(loss) for the year - (74,872) - - (14,561) - - (89,432)
Dividends (1,871,338) - (50,831,741) (40,000) - - 22,301,678 (30,441,401)
Changes in fair value of available-for-sale securities (381,647) - - - - 6,890,576 - 6,508,929
Other Adjustments 193,635 9,879,951 19,159,555 24,672,050 - (109,754) (12,345,098) 41,450,339
BALANCE AT DECEMBER 31, 2017, AS RESTATED 44 637,232,349 121,072,068 2,228,039,383 276,850,346 (1,220) 31,519,847 362,210,007 3,656,922,781
CHANGES IN EQUITY FOR 2018 (55,943,679) 64,437,434 221,903,772 8,112,011 256,648 (64,408,944) 47,499,769 221,857,010
Add/(Deduct):
Issuances of Share Capital - - - 2,553,920 - - - 2,553,920
Additional Capital from National Government 624,496 - - 5,809,778 - - - 6,434,274
Members' Contribution - - - - - - 40,732,963 40,732,963
Surplus/(Deficit) for the period 18,738,207 - - - - - - 18,738,207
(in thousand pesos)
Cumulative
Retained Cumulative
Government Revaluation Stockholders' Changes in Members'
Earnings/ Translation TOTAL
Equity Surplus Equity Fair Value of Equity
(Deficit) Adjustment
Investments
Note
Net Income/(loss) for the year - - 290,345,464 - - - - 290,345,464
Other Comprehensive Income/(loss) for the year - 9,810,060 - - 256,648 - - 10,066,708
Dividends (1,766,479) - (76,934,617) - - - 27,293,615 (51,407,481)
Changes in fair value of available-for-sale securities (1,913) - - - - (64,408,944) - (64,410,857)
Other Adjustments (73,537,990) 54,627,374 8,492,924 (251,687) - - (20,526,809) (31,196,188)
BALANCE AT DECEMBER 31, 2018 44 581,288,670 185,509,501 2,449,943,155 284,962,357 255,428 (32,889,097) 409,709,776 3,878,779,791

17
Combined Statement of Cash Flows
(in thousand pesos)
Notes 2018 2017

(Restated)
CASH FLOWS FROM OPERATING ACTIVITIES

Cash Inflows 59 2,464,771,774 1,933,861,302
Cash Outflows 60 2,370,020,175 1,580,431,620
Net Cash Provided by/(Used in) Operating Activities 94,751,599 353,429,682
CASH FLOWS FROM INVESTING ACTIVITIES

Cash Inflows 61 837,500,768 682,923,943
Cash Outflows 62 1,002,353,547 891,515,216
Net Cash Provided By/(Used In) Investing Activities (164,852,778) (208,591,273)
CASH FLOWS FROM FINANCING ACTIVITIES

Cash Inflows 63 1,539,657,830 1,148,047,836
Cash Outflows 64 1,405,013,779 1,100,620,536
Net Cash Provided By/(Used In) Financing Activities 134,644,051 47,427,300
INCREASE/(DECREASE) IN CASH AND

CASH EQUIVALENTS 64,542,871 192,265,709
Effects of Exchange Rate Changes on Cash and

Cash Equivalents 65 144,602,989 25,113,507
CASH AND CASH EQUIVALENTS, JANUARY 1 1,455,715,436 1,238,336,219
CASH AND CASH EQUIVALENTS, DECEMBER 31 66 1,664,861,297 1,455,715,436

18
`
Combined Statement of Comparison of Budget and Actual Amounts
(in thousand pesos)
TOTAL
Budgeted Amounts Actual Amounts Difference Final

on Comparable Budget and
Original Final Basis Actual
RECEIPTS
Tax Revenue 2,564,000 2,564,000 3,181,864 (617,864)
Services and Business Income 150,809,603 149,399,269 126,936,020 22,463,249
Assistance and Subsidy 177,701,789 176,918,990 60,050,641 116,868,349
Shares, Grants and Donations 28,891,032 28,931,063 30,312,661 (1,381,598)
Gains 5,600 5,600 655,146 (649,546)
Others 124,099,637 122,913,348 84,739,946 38,173,401
Total Receipts 484,071,661 480,732,269 305,876,278 174,855,991
PAYMENTS
Personnel Services 20,453,980 19,568,651 15,552,567 4,016,084
Maintenance and Other Operating
Expenses 99,648,737 103,747,485 85,870,586 17,876,899
Capital Outlay 173,661,779 170,990,622 44,370,026 126,620,596
Financial Expenses 129,221,908 124,082,364 85,730,263 38,352,101
Others 72,484,644 73,791,202 56,268,236 17,522,965
Total Payments 495,471,048 492,180,324 287,791,679 204,388,645
NET RECEIPTS/PAYMENTS (11,399,386) (11,448,054) 18,084,599 (29,532,653)
19
Notes to Combined Financial Statements
1. GENERAL INFORMATION
The CY 2018 Annual Financial Report (AFR) for GCs presents the combined FSs
submitted by 613 GCs consisting of 125 regular GCs and 488 WDs. Of the 613 GCs,
454 or 74.06 percent were audited while 159 or 25.93 percent were unaudited,
consisting of 4 regular GCs and 153 WDs. The audit of some WDs are ongoing while
some are audited on cyclical basis. The combined FSs comprise the statement of
financial position (SFPos), the statement of comprehensive income/financial
performance, the statement of changes in net assets/equity, the SCF of all GCs; and the
SCBAA of 42 GCs classified as non-GBEs. The list of GCs showing their acronyms,
parent/controlling entity, registered office addresses, and their enabling laws/creation is
shown in Annex A.
2. STATEMENT OF COMPLIANCE AND BASIS OF PREPARATION OF

Statement of Compliance
The FSs of GCs were prepared and presented in accordance with generally accepted
accounting principles as set forth in the Philippine Financial Reporting Standards
(PFRS) applicable for GBEs, issued by the Philippine Financial Reporting Standards
Council (PFRSC), and the PPSAS applicable for non-GBEs pursuant to Commission on
Audit (COA) Circular No. 2015-003, dated April 16, 2015; and in compliance with
COA Circular No. 2017-004 dated December 13, 2017. PFRS includes all applicable
PFRS, Philippine Accounting Standards (PAS) and Philippine Interpretations issued by
the PFRSC.
The FSs of the BSP were prepared in compliance with the provisions of Republic Act
(R.A.) No. 7653 and applicable PFRS and PAS as aligned with the provisions of
International Financial Reporting Standards and International Accounting Standard. It
was also the Bank’s position that having considered its responsibilities in the
formulation and conduct of effective monetary policy, it is appropriate to differ, in some
aspects, from the adoption of relevant PAS.
Basis of Preparation
The FSs of GCs were prepared on the historical cost basis, unless stated otherwise.
Historical cost is generally based on the fair value of the consideration given in
exchange for goods and services. The SCF is prepared using the direct method.
20
The specific accounting policies adopted by the GCs and the standards, amendments
and interpretations are discussed extensively in the Notes to FSs included in the annual
audit report on individual GCs, which can be accessed at the COA website
www.coa.gov.ph. The list of regular GCs and the accounting standards adopted are
presented in Annex B of this Report.
3. BASIS OF COMBINATION
The FSs of GCs were first combined by cluster of GCs classified as GBEs and
non-GBEs, under the audit jurisdiction of the COA Corporate Government Sector
which was grouped into audit clusters pursuant to COA Resolution 2012-019 dated
December 20, 2012 as follows: Cluster 1 – Banking and Credit; Cluster 2 – Social
Security Services and Housing; Cluster 3 – Public Utilities; Cluster 4 – Industrial and
Area Development; Cluster 5 – Agricultural and Natural Resources; and Cluster 6 –
Social, Cultural, Trading, Promotional and Other Services. The combined FSs of GCs is
the combination of FSs of all GCs, including the combined FSs of WDs.
The FSs of WDs were first combined by region/by province. The combined FSs was
further combined with the FSs of GCs under Cluster 3 – Public Utilities. The individual
FSs of WDs by Region/by Province is presented in Volume II of this Report, while the
individual FSs of GCs by Cluster is presented in Part IV of this volume of AFR for
GCs.
4. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
4.1. Currency of presentation
All amounts presented in this Report are expressed in Philippine peso, the
functional currency of the Philippines, the primary economic environment in
which the GC operates, rounded off to the nearest thousands (P000), unless
stated otherwise. The difference between the total amount and sum of
components presented in the tables is due to rounding off.
4.2. Basis of accounting
The FSs of GCs were prepared on an accrual basis of accounting. Accrual basis
of accounting means transactions and events are recognized when they occur.
All expenses are recognized and reported in the FSs in the period to which they
relate. Income is on accrual basis except for transactions where accrual basis is
impractical or when the law requires other methods.
4.3. Significant accounting judgments and estimates
The preparation of the FSs in accordance with the prescribed accounting policies
requires the use of certain critical accounting estimates and assumptions that
affect the reported amounts of assets, liabilities, income, and expenses, and
disclosure of contingent assets and contingent liabilities. Future events may
21
cause the assumptions and estimates to change. Management exercises judgment
in applying the accounting policies of GCs.
Judgments, estimates and assumptions are continually evaluated and are based
on historical experience, and other factors, including expectations of future
events that are believed to be reasonable under the circumstances. Actual results
could differ from those estimates, and such, will be adjusted accordingly. The
effects of any change in estimates are reflected in the FSs as they become
reasonably determinable.
4.4. Prior period adjustments
In accordance with PAS 8/PPSAS 3–Accounting Policies, Changes in

Accounting Estimates and Errors, corrections of material errors are either
restated in the comparative amounts for the prior period(s) presented in which
the error occurred; or if the transactions relate to periods before those are
presented in the FSs, adjustments are restated in the opening balances of assets,
liabilities and equity for the earliest prior period presented.
4.5. Changes in accounting estimates and policies
The GCs apply the prospective application in recognizing the effects of changes
in accounting estimates; as such, the changes are included in surplus/deficit or
profit/loss. On the other hand, the retrospective application is used to effect
changes in accounting policy, except when application is impractical, wherein
the prospective application is used.
4.6. Foreign currency translation/transaction
Foreign currency transactions are initially recognized in Philippine peso, the

functional currency, by applying to the foreign currency amount the spot
exchange rate between the functional currency and the foreign currency at the
date of the transaction in accordance with the provisions of PAS 21–The Effects
of Changes in Foreign Exchange Rates. Closing rate is the spot exchange rate at
the end of the reporting period.
Monetary assets and liabilities denominated in foreign currencies are

revalued/restated by applying the prevailing currency rate at reporting date.
Exchange rate differences arising from the restatement or settlement of
monetary items are recognized in surplus/deficit or profit/loss in the period in
which they arise. Non-monetary items that are measured at fair value in foreign
currency are translated using the exchange rates at the date when the fair value
was determined.
BSP’s transactions in foreign currency are translated to Philippine pesos using

exchange rates applying on the value at settlement date of the transaction. For
reporting purposes, foreign currency assets and liabilities are translated to the
local currency equivalent using the weighted average exchange rate (WAER) at
reporting date. Third currency assets and liabilities are first converted to the
United States (US) dollars, then translated to local currency equivalent.
22
The WAER at reporting date was used by BSP in translating foreign currency
denominated assets and liabilities, instead of the closing rate as prescribed in
paragraph 23 of PAS 21–The Effects of Changes in Foreign Exchange Rates,
since the WAER is a more representative rate as it captures the results of all
done transactions for the day in the Philippine Dealing System (PDS) rather than
at closing rate which is based on a single/last transaction.
In the case of the LBP, the books of accounts of the regular banking units
(RBUs) are maintained in Philippine pesos, while those of the foreign currency
deposit units (FCDUs) are maintained in US dollars. For financial reporting
purposes, the foreign currency denominated monetary assets and liabilities in the
RBUs are translated in Philippine pesos based on the Bankers’ Association of
the Philippines (BAP) closing rate at the statement SFPos date and foreign
currency denominated income and expenses at the prevailing exchange rate on
date of transaction. Foreign exchange differences arising from revaluation and
translation of RBU denominated assets and liabilities are credited to or charged
against operations in the year in which the rates change. Non-monetary items
that are measured in terms of historical costs in a foreign currency are translated
using the exchange rates as at the dates of the initial transactions. Non-monetary
items measured at fair value in a foreign currency are translated using the
exchange rates at the date when the fair value was determined.
LBP’s FCDU assets and liabilities of the parent are translated in the Philippine
Peso at BAP closing rate prevailing at the statements of financial position date,
and its income and expenses are translated at BAP weighted average rate for the
year. Exchange difference arising on translation to the presentation currency are
recorded to “Translation Adjustment and Others” in the Equity. Upon disposal
of the FCDU or actual remittance of FCDU profits to RBU, the cumulative
amount of translation adjustments in the equity is recognized in the statement of
comprehensive income (SCI).
DBP’s foreign currency monetary items are accounted for in accordance with
the provisions of PAS 21–Effects of Changes in Foreign Exchange Rates, and
are revalued monthly using the PDS peso/US dollar closing rate and the New
York US dollar/third currencies closing rates as prescribed under BSP Circular
No. 494 dated September 20, 2005. Actual foreign currency transactions are
booked based on prevailing PDS transaction date. Foreign exchange differences
arising from the above are charged to operation.
4.7. Cash and Cash Equivalents
Cash includes cash on hand and cash in bank, which is composed of current
accounts and savings deposits, both in Philippine peso and foreign currencies.
Cash equivalents are short-term and highly liquid investments with short
maturities of three months or less from date of acquisition, that are readily
convertible to known amounts of cash and subject to an insignificant risk of
changes in value.
23
Petty Cash Fund (PCF) is set up for the recurring petty and emergency expenses
of a GC. PCF is maintained on an imprest system wherein replenishment is
charged to the appropriate expense accounts. The PCF is kept separately from
the other cash advances, and is not used for payment of regular expenses such as
rentals, purchase of regular inventory items for stock and other disbursements
which should be paid through checks.
4.8. Financial Assets
a. Financial Asset is an asset that is any of the following:
1. Cash;
2. An equity instrument of another entity;
3. A contractual right:
i. to receive cash or another financial asset from another entity; and
ii. to exchange financial assets or financial liabilities with another
entity under conditions that are potentially favorable to the entity;
and
4. A contract that will or maybe settled in the entity’s own equity
instruments.
b. Initial recognition and measurement
Financial assets are recognized in the books of GCs when it becomes a party
to the contractual provisions of the instrument. A financial asset is measured
initially at its fair value plus, in the case of financial asset not measured at
fair value through surplus/deficit or profit/loss, transaction costs that are
directly attributable to the acquisition or issue of the financial asset.
Financial assets within the scope of PPSAS 29/PAS 39–Financial

Instruments: Recognition and Measurement are classified as: 1) financial
assets at fair value through surplus/deficit or profit/loss, 2) held to maturity
(HTM) investments, 3) available for sale (AFS) securities, and 4) loans and
receivables. GCs classify the financial assets at initial recognition depending
on the purpose for which the financial assets are acquired, and re-evaluate
the classification at every reporting date.
c. Subsequent measurement
The subsequent measurement of financial assets depends on their

classification. After initial recognition, financial assets are measured,
including derivatives that are assets, at their fair values, without any
deduction for transaction costs that it may incur on sale or other disposal,
except for the following financial assets:
1. Loans and receivables measured at amortized cost using the effective

interest method;
2. Held-to-maturity investments measured at amortized cost using the
effective interest method; and
24
3. Investments in equity instruments that do not have a quoted market price
in an active market and whose fair value cannot be reliably measured, and
derivatives that are linked to and must be settled by delivery of such
unquoted equity instruments, which are measured at cost.
d. Financial assets at fair value through surplus/deficit or profit/loss
Financial assets at fair value through surplus/deficit or profit/loss include

financial assets held for trading, and financial assets designated upon initial
recognition at fair value through surplus/deficit or profit/loss. Financial
assets are classified as held for trading if acquired principally for the purpose
of selling or repurchasing in the near term or generating profit from short-
term fluctuations in price or dealer’s margin. These are trading debt and
equity securities that are purchased with the intent of selling in the near
term. Financial assets at fair value through surplus/deficit or profit/loss are
carried at fair or market value. Gains or losses arising from change in fair
value or market valuation are credited or charged to operations.
The fair value of financial instruments traded in active markets at reporting

date is based on their quoted market price or dealer price quotations (bid
price for long positions and ask price for short positions), without deduction
for transaction costs. When current bid or ask prices are not available, the
price of the most recent transaction provides evidence of the current fair
value as long as there has not been a significant change in economic
circumstances since the time of the transaction.
For all other financial instruments not traded in an active market, the fair
value is determined by using appropriate valuation techniques. Valuation
techniques include net present value techniques, comparison to similar
instruments for which observable market prices exist, and other relevant
valuation models.
Derivatives, including derivatives embedded in non-derivative contracts, are

also classified as held for trading unless these are designated as hedging
instruments. Derivatives are subsequently re-measured at their fair value.
Fair values are obtained from quoted market prices in the active markets,
including recent market transactions and valuation techniques, including
discounted cash flow models. Every derivative instrument is recorded in the
SFPos either as an asset when fair value is positive or liability when fair
value is negative. Any gains or losses from changes in fair value of
derivatives are taken directly to surplus/deficit or profit/loss.
e. Held to Maturity Investments
HTM investments are non-derivative financial assets with fixed or

determinable payments and fixed maturities that are intended to be held until
maturity. After initial recognition, HTM investments are subsequently
measured at amortized cost using the effective interest rate (EIR) method,
less impairment in value. Amortized cost is calculated by taking into account
any discount or premium on acquisition and fees or costs that are an integral
25
part of the effective interest rate. Gains and losses due to change in exchange
rate are recognized in SCI when the HTM investments are derecognized,
impaired or revalued (in case of foreign currency denominated), as well as
through the amortization process.
f. Available for Sale Securities
AFS investments are debt and equity securities which do not qualify to be
classified as held for trading, HTM or loans and receivables. They are
purchased and held indefinitely, which may be sold in response to liquidity
requirements or changes in market condition (changes in interest rates or
equity prices). AFS investments are carried at fair market value. The
effective yield component (including premium, discounts and directly
attributable transaction cost) and foreign exchange restatement results of
AFS debt securities are reported in earnings. Unrealized gains or losses on
market valuation or change in fair value are reported as separate component
in the SCI.
Dividends on AFS equity instruments are recognized in the SCI when the
entity’s right to receive payment is established. The cumulative unrealized
gains and losses arising from the recognition of fair value changes on AFS
are reported as separate component of equity in the SFPos.
4.9. Loans and receivables
Loans and receivables are non-derivative financial assets with fixed or

determinable payments that are not quoted in an active market. Such assets are
carried at cost or amortized cost using the EIR method less impairment in value.
Amortized cost is calculated by taking into account any discount or premium on
acquisition and fees or costs that are integral part of the effective interest rate.
Losses arising from impairment are recognized in the surplus/deficit or
profit/loss.
4.10. Financial assets at amortized cost
Investment securities valued at amortized cost are held consistent within the
business model adopted, which is to hold the financial assets to collect the
contractual cash flows rather than to sell the instrument prior to its contractual
maturity to realize its fair value changes.
a. Impairment of financial assets
Financial asset is deemed to be impaired if there is objective evidence of

Impairment as a result of one or more events that has/have occurred after
initial recognition of an asset and that loss event (or events) has/have an
impact on the estimated future cash flows of the financial asset or group of
financial assets that can be reliably estimated. Evidence of impairment may
include the following indicators:
26
1. The debtor or a group of debtors is experiencing significant financial
difficulty;
2. Default or delinquency in interest or principal payments;
3. The probability that debtors will enter bankruptcy or other financial
reorganization; and
4. Observable data indicates a measurable decrease in estimated future cash
flows (e.g. changes in arrears or economic conditions that correlate with
defaults).
If there is objective evidence that an impairment loss on financial assets has

been incurred, the amount of the loss measured is the difference between the
asset’s carrying amount and the present value of the estimated future cash
flows discounted at the financial assets’ original EIR. The carrying value of
the asset is reduced through the use of an allowance account, and the amount
of loss is recognized in the SCI.
If, in a subsequent period, the amount of accumulated impairment loss has

decreased because of an event occurring after the impairment has been
recognized, the previously recognized impairment loss is reversed by
adjusting the allowance account. However, the carrying amount after the
reversal of impairment loss should not exceed the carrying amount of the
financial assets had there been no impairment loss recognized. The amount
reversed is recognized in the SCI.
b. Derecognition
Financial asset, or a part of a financial asset, or part of similar financial

assets is derecognized when:
1. the contractual rights to the cash flows from the financial asset expire or
are waived;
2. the entity has transferred its contractual rights to receive the cash flows of
the financial assets, or retains the contractual rights to receive the cash
flows of the financial assets but assumes a contractual obligation to pay
the cash flows to one or more recipients in an arrangement that meets the
conditions set forth in PAS 39/PPSAS 29–Financial Instruments:
Recognition and Measurement; and
3. either the entity has transferred substantially all the risks and rewards of
ownership of the financial asset; or has neither transferred nor retained
substantially all the risks and rewards of ownership of the financial asset,
but has transferred the control of the asset.
4.11. New Philippine Financial Reporting Standard adopted
Effective January 1, 2018, some GCs classified as GBEs adopted the applicable
provisions of PFRS 9–Financial Instruments which replaced PAS 39–Financial
Instruments, Recognition and Measurement. The new standard introduced
changes in the way financial instruments are classified and measured and a new
impairment model that is better aligned with risk management practices.
27
Pursuant to COA Resolution No. 2019-006 dated March 29, 2019, GCs
classified as GBEs that have not taken into consideration the early application of
the provisions of PFRS 9–Financial Instruments, shall mandatorily apply its
applicable provisions effective on January 1, 2019.
a. Financial assets classification and measurement
Under PFRS 9, an entity shall classify financial assets as subsequently

measured at amortized cost, fair value through profit or loss (FVPL), or fair
value through other comprehensive income (FVOCI) on the basis of both:
1. the entity’s business model for managing the financial assets, and
2. the contractual cash flow characteristics of the asset.
Change in fair value of financial assets classified as FVOCI is recognized in

the Other Comprehensive Income/Equity section of the SFPos, except for
impairment gains/losses, until the financial asset is derecognized or
reclassified. Whereas, the change in fair value of financial assets classified
as FVPL is recognized in the SCI.
b. Impairment
Pursuant to PFRS 9, an entity shall apply the impairment requirements for

the recognition and measurement of a loss allowance for financial assets that
are measured at amortized cost or at FVOCI. Under the impairment
approach in PFRS 9, it is no longer necessary for a credit event to have
occurred before credit losses are recognized. Instead, an entity always
accounts for expected credit losses (ECL) and the changes in those ECL.
The amount of ECL is updated at each reporting date to reflect changes in
credit risk since initial recognition and consequently, a more timely and
forward looking information is provided about ECL.
4.12. Inventories
Inventories are initially recognized and measured at cost upon acquisition. Cost
of inventories comprises all cost of purchase, cost of conversion and other cost
incurred in bringing the inventories to their present location and condition. The
cost of purchase of inventories comprises the purchase price, import duties and
other taxes, transport, handling and other costs directly attributable to the
acquisition of the finished goods, materials and services. Trade discounts,
rebates and other similar items are deducted in determining the cost of purchase.
Inventories acquired through non-exchange transactions (for no cost or for a

nominal cost), are measured at fair value at the date of acquisition.
After initial recognition, inventory is measured at the lower of cost and net
realizable value. Net realizable value is the estimated selling price in the
ordinary course of operations, less the estimated costs of completion and the
estimated costs necessary to make the sale, exchange, or distribution.
28
Inventories are recognized as an expense when issued for utilization or
consumption in the ordinary course of operations using the first-in, first-out
(FIFO) or weighted average method. The entity uses the same cost formula for
all inventories having a similar nature and use. The use of different formula is
justified for inventories with different nature or use.
Tangible items below the capitalization threshold of P15,000 are accounted as

semi-expendable property but are recognized as expense in the period when
incurred.
4.13. Investments in Joint Venture
A Joint Venture (JV) is a contractual arrangement whereby an entity and other

parties undertake an economic activity that is subject to joint control. Where a
group of companies undertakes activities under a JV arrangements directly, the
group’s share of jointly controlled assets and any liabilities incurred jointly with
other venturers are recognized in the FSs of the ventures and classified
according to their nature.
Liabilities and expenses incurred directly in respect of interest in jointly

controlled assets are accounted for on an accrual basis. Income from the sale or
use of group’s share of the output of the jointly controlled assets, and its share of
JV expenses, are recognized when it is probable that the economic benefits
associated with the transactions will flow to/from the group and their amount
can be measured reliably.
The National Housing Authority (NHA), as a venturer, prepares separate FSs

and recognizes its interest in a JV using the cost plus acquisition changes in the
share in the net assets of the JV. NHA has no direct control over the JV. NHA
invests its property to the JV and share in the assets and revenue in accordance
with the rates provided for in the JV. The distributions of share from the JV
from a controlled entity, a JV or an associate, are recognized in the separate FSs
of an entity when the entity’s right to receive the dividend or similar distribution
is established. The dividend or similar distribution is recognized in
surplus/deficit unless the entity elects to use the equity method, in which case
the dividend or similar distribution is recognized as a reduction from the
carrying amount of the investment.
The Subic Bay Metropolitan Authority (SBMA) interest in JV are jointly

controlled entity, whereby the venturers have a binding arrangement that
establishes joint control over the economic activities of the entity. SBMA
recognizes its interest in the JV using the equity method. Under the equity
method, investments in JV are carried in the consolidated SFPos at cost plus
post acquisition changes in share of nets assets of the JV. The statement of
financial performance (SFPer) reflects the share of the results of operations of
the JV. Where there has been a change recognized directly in the equity of the
JVs, the entity recognizes its share of any changes and discloses this.
The PNOC Exploration Corporation (PNOC EC) reports its 10 percent interest
in Service Contract 38 using JV proportionate consolidation. The PNOC EC’s
29
share of the assets, liabilities, income and expenses are combined with the
equivalent items in the Corporation’s FSs on a line-by-line basis. Investments in
JV include accumulated intangible costs directly attributable to exploration and
development activities such as the expenses incurred to acquire the legal right to
explore, and the costs of exploratory drilling and testing. In accordance with the
successful efforts method of accounting, non-drilling costs and other pre-
operating expenses such as corporate overhead, except those expenses which are
directly related to exploratory drilling activities, are expensed as incurred.
4.14. Investments in Associates/Affiliates
An associate/affiliate is an entity over which the investor has significant

influence. Significant influence is the power to participate in the financial and
operating policy decisions of the investee but is not control or joint control of
those policies. A substantial or majority ownership by another investor does not
necessarily preclude an entity from having significant influence, unless such
influence is clearly demonstrated.
Under PAS 28/PPSAS 36–Investments in Associates and Joint Ventures, an

entity uses the equity method to account for its investments in
associates/affiliates in its consolidated FSs. Equity method is defined as a
method of accounting whereby the investment is initially recognized at cost and
adjusted thereafter for the post-acquisition change in the investor’s share of net
assets of the investee. The profit or loss of the investor includes its share of the
profit or loss of the investee, and the other comprehensive income of the
investor includes its share of other comprehensive income of the investee. The
equity method does not apply, when an entity prepares separate FSs in
accordance with PAS 27/PPSAS 34–Separate Financial Statements.
4.15. Non-Current Assets Held for Sale
Non-current assets are classified as held for sale if it is highly probable that their
carrying amount will be recovered primarily through a sale transaction rather
than through continuing use. For this to be the case, the asset must be available
for immediate sale in its present condition subject only to terms that are usual
and customary for sale of such assets and its sale must be highly probable. For
the sale to be highly probable, the appropriate level of management must be
committed to a plan to sell the asset, and an active program to locate a buyer and
complete the plan must have been initiated. Further, the asset must be actively
marketed for sale at a price that is reasonable in relation to its current fair value.
In addition, the sale should be expected to qualify for recognition as a completed
sale within one year from the date of classification.
Non-current assets held for sale are carried at the lower of their carrying amount
and fair value less costs to sell. Assets classified as held for sale are not subject
to depreciation or amortization. If an asset has been classified as held for sale
but the criteria for it to be recognized as held for sale are no longer satisfied, the
GCs shall cease to classify the asset as held for sale. Impairment loss is
recognized for an initial or subsequent write-down of the asset fair value less
cost to sell. Gain on any subsequent increase in fair value less cost to sell of an
30
asset is recognized to the extent of the cumulative impairment loss that has been
recognized.
Non-current assets held for sale include foreclosed collateral of delinquent

customers that are intended for sale within one year from the date of
classification as held for sale.
4.16. Investment Property
Investment property is property, either land or building, or a part of a building or

both, held by the owner or by the lessee under a finance lease, to earn rentals or
for capital appreciation, or both, rather than for use in the production or supply
of goods or services or for administrative purposes, or for sale in the ordinary
course of business.
a. Initial recognition
Investment property is measured initially at cost, including transaction costs.

Such cost should not include start-up costs, operating losses incurred before
the investment property achieves the planned level of occupancy, and
abnormal amounts of wasted materials, labor or other resources incurred in
constructing or developing the property. The carrying amount includes the
replacement cost of components of an existing investment property at the
time that cost is incurred if the recognition criteria are met; and excludes the
costs of day-to-day maintenance of an investment property.
b. Subsequent measurement
Subsequent to initial recognition, investment property are measured using

the cost model and are depreciated over their estimated useful lives.
Investment property are also tested for impairment and impairment losses
are also recognized, when appropriate. Impairment is a loss in the future
economic benefits of an investment property over and above the systematic
recognition of the loss of the asset’s future economic benefits through
depreciation. After recognition of an impairment loss, the depreciation
charge of the investment property shall be adjusted in future periods to
allocate the asset’s revised carrying amount over its remaining useful life.
c. Derecognition
Investment property is derecognized on disposal or when the investment

property is permanently withdrawn from use and no future economic
benefits are expected from its disposal. The difference between the net
disposal proceeds and the carrying amount of the asset is recognized in the
surplus/deficit or profit/loss in the period of retirement or disposal. Transfers
to, or from, investment property shall be made only when there is a change
in use.
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4.17. Property, Plant and Equipment
Property, Plant and Equipment (PPE) are tangible items that are held for use in
the production or supply of goods or services, for rental to others, or for
administrative purposes; and are expected to be used during more than one
reporting period.
a. Initial recognition
GCs recognize an item of PPE in the books of accounts if it is probable that

future economic benefits or service potential associated with the item will
flow to the entity; the cost of the item can be measured reliably; and meets
the capitalization threshold of P15,000. PPE, except land, are stated at cost
less accumulated depreciation and impairment loss. Cost includes: purchase
price, import duties and non-refundable purchase taxes less trade discounts
and rebates; expenditure that is directly attributable to the acquisition of the
item; and initial estimate of the costs of dismantling and removing the item
and restoring the site on which it is located, the obligation for which an
entity incurs either when the item is acquired, or as a consequence of having
used the item during a particular period for purposes other than to produce
inventories during that period.
After initial recognition, PPE, except land, is stated at cost less accumulated
depreciation and impairment losses. Land is measured at cost less
accumulated impairment losses.
Major repairs/renovations and improvements that will prolong the useful life
of the asset are capitalized and depreciated over the remaining or revised
useful life of the asset. All other repairs and maintenance are charged to the
SCI during the financial period in which they are incurred.
c. Depreciation
Depreciation, the systematic allocation of the depreciable amount of PPE

over its useful life, is calculated using the straight-line method, net of
residual value over its estimated useful life. Each part of an item of PPE with
a cost that is significant in relation to the total cost of the item is depreciated
separately. Depreciation starts when the PPE becomes available for use. The
depreciation charge for each period is recognized as expense, unless it is
included in the cost of another asset.
d. Impairment
PPE are assessed at each reporting date to determine the existence of

impairment, which is recognized when the carrying amount is greater than
the estimated recoverable amount or recoverable service amount.
Impairment is a loss in the future economic benefits or service potential over
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and above the systematic recognition of the loss of the PPE’s future
economic benefits or service potential through depreciation. After
recognition of an impairment loss, the depreciation charged of the PPE shall
be adjusted in future periods to allocate the asset’s revised carrying amount
over its remaining useful life.
e. Derecognition
An item of PPE and/or any significant part of a PPE is derecognized upon

disposal or when no future economic benefits or service potential are
expected from its continued use. Any gain or loss arising from derecognition
of the asset is included in the SCI.
Construction in Progress (CIP) is stated at cost. While the construction is in

progress, the project costs are accrued based on the contractor’s
accomplishment reports and billings. These represent costs incurred for
technical services and capital works program contracted to facilitate the
implementation of the project. While the construction is in progress, no
provision for depreciation is recognized.
CIP is transferred to the appropriate PPE account when the construction or

installation and related activities necessary to prepare the PPE for its intended
use have been completed, and the asset is ready for service.
4.18. Intangible Assets
An intangible asset is an identifiable non-monetary asset without physical

substance.
a. Initial recognition and subsequent measurement
Intangible assets are recognized in the books of accounts if: the items are
identifiable and separable; the items are controlled by the entity; it is
probable that the expected future economic benefits or service potential that
are associated with the asset will flow to the entity; and the cost or fair value
can be measured reliably.
Intangible asset acquired through purchase or by separate acquisition is

initially recognized at cost, which includes non-refundable taxes and other
directly attributable cost. The cost of an intangible asset acquired in a non-
exchange transaction is its fair value at the time of acquisition. Internally
generated intangible asset, excluding capitalized development costs, is not
capitalized and expenditure is reflected in surplus/deficit or profit/loss in the
period in which the expenditure is incurred. No intangible asset arising from
research (or from the research phase of an internal project) is recognized.
Expenditure on research is recognized as expense when incurred.
An intangible asset arising from development (or from the development

phase of an internal project) shall be recognized if an entity can demonstrate
all of the following:
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1. technical feasibility of completing the intangible asset so that it will be
available for use or sale;
2. its intention to complete the intangible asset and use or sell it;
3. its ability to use or sell the intangible asset;
4. how the intangible asset will generate probable future economic benefits.
Among other things, the entity can demonstrate the existence of a market
for the output of the intangible asset or the intangible asset itself or, if it is
to be used internally, the usefulness of the intangible asset;
5. availability of adequate technical, financial and other resources to
complete the development and to use or sell the intangible asset; and
6. its ability to measure reliably the expenditure attributable to the
development of the intangible asset.
b. Amortization and impairment
Intangible assets are carried at cost less accumulated amortization and

impairment loss. The useful lives of intangible assets are assessed as either
finite or indefinite. Those with finite lives are amortized over their useful
lives using the straight line method, and are assessed for impairment at each
reporting period whenever there is an indication that the asset is impaired.
Those with indefinite useful lives are not amortized but are required to be
tested for impairment at least annually or whenever there is an indication
that the intangible asset may be impaired. The amortization expense of an
intangible asset with a finite useful life is recognized in surplus/deficit or
profit/loss.
Amortization begins when the intangible asset is available for use, i.e., when
it is in the location and condition necessary for it to be capable of operating
in the manner intended by management. Amortization ceases at the earlier of
the date that the asset is classified as held for sale (or included in a disposal
group that is classified as held for sale) and the date that the asset is
derecognized.
An intangible asset is impaired when its carrying amount is greater than the
estimated recoverable amount.
GCs are required to review the useful lives of their intangible assets with
indefinite lives each year to determine whether events and circumstances
continue to support an indefinite useful life assessment for those assets.
Change in the useful life assessment from indefinite to finite shall be
accounted for as a change in accounting estimate.
c. Derecognition
An item of intangible asset is derecognized when it is permanently

withdrawn from use and no future economic benefits or service potential are
expected from its use. Any gain or loss arising from the retirement of an
item of intangible asset is included in the SCI in the period of retirement.
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4.19. Deferred Tax Asset
Deferred tax asset is recognized for the amount of income tax recoverable in
future periods with respect to deductible temporary differences, and the carry
forward of unused tax losses and unused tax credits to the extent that it is
probable that future taxable profit will be available against which the unused tax
losses and unused tax credits can be utilized.
At the end of each reporting period, GCs reassess unrecognized deferred tax
assets. GCs recognize a previously unrecognized deferred tax asset to the extent
that it has become probable that future taxable profit will allow the deferred tax
asset to be recovered.
4.20. Prepayments
Prepayments represent expenses not yet incurred but already paid in cash.
Prepayments are initially recognized as assets and measured at cost.
Subsequently, these are charged to SCI as they are consumed in operations or as
they expire with the passage of time. Prepayments are classified in the SFPos as
current assets if expected to be incurred within one year, otherwise, prepayments
are classified as non-current assets.
4.21. Financial liabilities
a. Initial recognition and measurement
Financial liabilities within the scope of PAS 39/PPSAS 29 are classified as

financial liabilities at fair value through profit or loss, or loans and
borrowings, as appropriate. GCs determine the classification of its financial
liabilities at initial recognition. All financial liabilities are recognized
initially at fair value, and in the case of loans and borrowings, plus directly
attributable transaction costs. Borrowing costs are recognized as expense in
the year in which these costs are incurred.
GCs financial liabilities include trade and other payables, bank overdrafts,
loans and borrowings, and financial guarantee contracts.
Subsequent measurement of financial liabilities depend on their

classification, as follows:
1. Financial liabilities at fair value through surplus/deficit or profit/loss

include financial liabilities held for trading and financial liabilities
designated upon initial recognition at fair value through surplus/deficit or
profit/loss.
2. Financial liabilities are classified as held for trading if they are acquired
for the purpose of selling in the near term.
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3. Interest bearing loans and borrowings, after initial recognition, are
subsequently measured at amortized cost using the EIR method. Gains
and losses are recognized in surplus/deficit or profit/loss when the
liabilities are derecognized as well as through EIR method amortization
process. Amortized cost is calculated by taking into account any discount
or premium on acquisition and fees or costs that are integral part of the
EIR.
c. Derecognition
Derecognition of a financial liability happens when the obligation under the

liability is discharged or cancelled or expired. When an existing financial
liability is replaced by another from the same lender on substantially
different terms, or the terms of an existing liability are substantially
modified, such an exchange or modification is treated as a derecognition of
the original liability and the recognition of a new liability, and the difference
in the respective carrying amounts is recognized in the SCI.
d. Offsetting of financial instruments
Financial assets and financial liabilities are offset and the net amount
reported in the combined SFPos if, and only if, there is a currently
enforceable legal right to offset the recognized amounts and there is an
intention to settle on a net basis, or to realize the assets and settle the
liabilities simultaneously.
e. Fair value of financial instruments
The fair value of financial instruments that are traded in active markets at
each reporting date is determined by reference to quoted market prices or
dealer price quotations (bid price for long positions and ask price for short
positions), without any deduction for transaction costs.
f. Derivative financial instruments
Derivatives are financial instruments such as forward currency contracts and

interest rate swaps to hedge foreign currency risks and interest rate risks,
respectively. Such derivative financial instruments are initially recognized at
fair value on the date on which a derivative contract is entered into and are
subsequently remeasured at fair value. Derivatives are carried as financial
assets when the fair value is positive and as financial liabilities when the fair
value is negative. Any gains or losses arising from changes in the fair value
of derivatives are taken directly to SCI.
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4.22. Provisions, Contingent Liabilities and Contingent Assets
a. Provisions
Provisions are recognized when: 1) the GC has a present obligation (legal or

constructive) as a result of past event; 2) it is probable that an outflow of
resources embodying economic benefits or service potential will be required
to settle the obligation; and 3) a reliable estimate can be made of the amount
of the obligation.
Where the GC expects some or all of a provision to be reimbursed, i.e.,

under an insurance contract, the reimbursement is recognized as a separate
asset only when the reimbursement is virtually certain. The expense relating
to any provision is presented in the SCI net of any reimbursement.
Provisions are reviewed at each reporting date, and adjusted to reflect the
current best estimate. If it is no longer probable that an outflow of resources
embodying economic benefits or service potential will be required to settle
the obligation, the provisions are reversed.
b. Contingent Liabilities
GCs do not recognize contingent liabilities, but disclose details of

contingencies in the Notes to FSs, unless the possibility of an outflow of
resources embodying economic benefits or service potential is remote.
c. Contingent Assets
A contingent asset is a possible asset that arises from past events and whose
existence will be confirmed only by the occurrence or non-occurrence of one
or more uncertain future events not wholly within the control of the entity.
In compliance with the provisions of PAS 37/PPSAS 19–Provisions,
Contingent Liabilities and Contingent Assets, contingent asset is not
recognized but disclosed in the Notes to FSs.
Contingent assets are assessed continually to ensure that developments are

appropriately reflected in the FSs. If it has become virtually certain that an
inflow of economic benefits or service potential will arise, and the assets
value can be measured reliably, the assets and the related revenue are
recognized in the FSs of the period in which the change occurs.
4.23. Leases
A lease is an agreement whereby the lessor conveys to the lessee, in return for a
payment or series of payments, the right to use an asset for an agreed period of
time.
Finance lease is a lease that transfers substantially all the risks and rewards
incidental to ownership of an asset. Title may or may not eventually be
transferred. Lessees recognize the asset and liability for the future lease
37
payments, in the SFPos at an amount equal to the fair value of the leased
property or, if lower, the present value of the minimum lease payments, at the
inception of the lease, except for initial direct costs of the lessee that are added
to the amount recognized as an asset. Subsequent to initial recognition,
minimum lease payments are apportioned between finance charges and
reduction of the outstanding liability, so as to achieve a constant periodic rate of
interest on the remaining balance of the liability. An asset is depreciated over
the asset useful life. However, if there is no reasonable certainty that the lessee
will obtain ownership of the asset by the end of the lease term, the asset is
depreciated over the shorter of the lease term and the estimated useful life of the
asset.
The lessor recognizes the asset lease payments receivable under a finance lease
in the SFPos at an amount equal to the net investment in the lease, and finance
revenue is recognized based on a pattern reflecting a constant periodic rate of
return on the net investment.
Operating lease is a lease that does not transfer substantially all the risks and
rewards incidental to ownership of the asset leased to the lessee. Operating lease
payments are recognized as operating expense in surplus/deficit or profit/loss on
a straight-line basis over the lease term. Initial direct costs incurred in
negotiating an operating lease are added to the carrying amount of the leased
asset and recognized over the lease term. Rent received from an operating lease
is recognized as income on a straight-line basis over the lease term. Contingent
rents are recognized as revenue in the period in which they are earned. The
depreciation policies for PPE are applied to similar assets leased by the entity.
4.24. Deferred Tax Liabilities
Deferred tax liability is recognized for the amount of income tax payable in
future periods with respect to all taxable temporary differences.
4.25. Borrowing Costs
Borrowing costs that are directly attributable to the acquisition, construction or

production of a qualifying asset as part of the cost of the asset are capitalized.
Other borrowing costs are recognized as expense in the period in which they are
incurred.
4.26. Revenue from Non-exchange transactions
a. Recognition and measurement of assets from non-exchange transactions
An inflow of resources from non-exchange transaction, other than services

in-kind that meets the definition of an asset is recognized as asset if the
following criteria are met:
1. It is probable that the future economic benefits or service potential
associated with the asset will flow to the entity; and
2. The fair value of the asset can be measured reliably.
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An asset acquired through a non-exchange transaction is initially measured
at its fair value as at the date of acquisition.
b. Recognition of revenue from non-exchange transactions
An inflow of resources from a non-exchange transaction recognized as an

asset is recognized as revenue, except to the extent that a liability is also
recognized in respect of the same inflow.
c. Measurement of revenue from non-exchange transactions
Revenue from a non-exchange transactions is measured at the amount of the

increase in net assets recognized by the entity, unless corresponding liability
is recognized.
d. Measurement of liabilities on initial recognition from

non-exchange transactions
The amount recognized as a liability in a non-exchange transaction is the

best estimate of the amount required to settle the present obligation at the
reporting date.
e. Gifts and Donations
GCs recognize the assets and revenue from gifts and donations when it is
probable that future economic benefits or service potential will flow to the
entity and the fair value of the assets can be measured reliably.
Goods in-kind are recognized as assets when the goods are received, or there
is a binding arrangement to receive the goods. If goods in-kind are received
without conditions attached, revenue is recognized immediately. If
conditions are attached, a liability is recognized, which is reduced, and
revenue is recognized as the conditions are satisfied.
On initial recognition, gifts and donations including goods in-kind are

measured at their fair value as at the date of acquisition, which are
ascertained by reference to an active market or by appraisal. An appraisal of
the value of an asset is normally undertaken by a member of the valuation
profession who holds a recognized and relevant professional qualification.
For many assets, the fair values are ascertained by reference to quoted prices
in an active and liquid market.
f. Transfers
GCs recognize an asset in respect of transfers when the transferred resources

meet the definition of an asset and satisfy the criteria for recognition as an
asset, except those arising from services in-kind.
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g. Services in-kind
Services in-kind are not recognized as asset and revenue considering the
complexity of the determination of and recognition of asset and revenue and
the eventual recognition of expenses.
h. Transfers from other government entities
Revenue from non-exchange transactions with other government entities and

the related assets are measured at fair value and recognized on obtaining
control of the asset (cash, goods, services and property) if the transfer is free
from conditions and it is probable that economic benefits or service potential
related to the asset will flow to the entity and can be measured reliably.
4.27. Revenue from exchange transactions
Revenue is measured at fair value of the consideration received or receivable.

GCs recognize revenue from the rendering of services by reference to the stage
of completion when the outcome of the transaction can be estimated reliably.
The stage of completion is measured by reference to labor hours incurred to date
as percentage of total estimated labor hours.
Where the contract outcome cannot be measured reliably, revenue is recognized

only to the extent that the expenses incurred are recoverable.
Interest income is accrued using the effective yield method. The effective yield
discounts estimated future cash receipts through the expected life of the
financial asset to the assets net carrying amount. The method applies this yield
to the outstanding principal to determine interest income at each period
4.28. Income and Expense recognition
Income/Revenue is the gross inflow of economic benefits received and

receivable by the GC on its own account during the period arising in the course
of the ordinary activities of the entity, when those inflows result in increases in
equity, other than increases relating to contributions from equity participants.
Revenue arises from the following transactions and events: a) sale of goods; b)
rendering of services; and c) use by others of entity assets yielding interest,
royalties and dividends. Income is measured at fair value of the consideration
received or receivable. Income is recognized only when it is probable that
economic benefits associated with the transactions will flow to the entity and
can be measured reliably. When the collectability of an amount already included
in revenue becomes uncertain, the uncollectible amount, or the amount in
respect of which recovery has ceased to be probable, is recognized as an
expense.
Expenses are recognized when incurred and reported in the FSs in the period to
which they relate.
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a. Taxes
Taxes and the related fines and penalties are recognized when collected or
when these are measurable and legally collectible. The related refunds,
including those that are measurable and legally collectible, are deducted
from the recognized tax revenue.
b. Service Fees
Income from rendering of services is recognized only when: 1) it is probable

that economic benefits associated with the transaction will flow to the entity;
2) the amount of revenue can be measured reliably; 3) the stage of
completion of the transaction at the end of the reporting period can be
measured reliably; and 4) the cost incurred for the transaction and the costs
to complete the transaction can be measured reliably.
Fines and penalties, except those related to taxes, are recognized as income
when earned and when the asset recognition criteria are met.
c. Grants and Donations
Grants and donations, including goods in-kind, are initially measured at fair
value as at the date of acquisition, which are ascertained by reference to
quoted prices in an active market, or by appraisal. An appraisal value of an
asset is normally undertaken by a member of the valuation profession who
holds a recognized and relevant professional qualification.
Goods in-kind are recognized as assets when the goods are received, or there
is a binding arrangement to receive the goods. If goods in-kind are received
without conditions attached, revenue is recognized immediately. If
conditions are attached, a liability is recognized. Liability is reduced and
revenue is recognized when the conditions are satisfied.
d. Interest, Royalties and Dividends
Interest income is accrued using the effective yield method. The effective
yield discounts estimated future cash receipts through the expected life of
the financial asset to that asset’s net carrying amount. The method applies
this yield to the outstanding principal to determine interest income in each
period.
Royalties are recognized as they are earned in accordance with the terms of
the relevant agreement. Dividend income is recognized at the time when the
shareholder’s right to receive the payment is established.
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e. Rent Income
Rent income arising from operating lease on investment property is

accounted for on a straight-line basis over the lease terms and included in
revenue.
5. CASH AND CASH EQUIVALENTS
This group of accounts is composed of the following:
2017
2018
Particulars (Restated)
(in thousand pesos)
Cash on Hand 46,622,754 41,150,517
Cash-Collecting Officers 2,923,060 2,838,831
Petty Cash 107,537 54,765
Local Currency on Hand 42,441,808 36,646,426
Foreign Currency on Hand 33,287 33,259
Checks and Other Cash Items 300,853 312,647
Treasury Fund Capital 816,208 1,264,590
Cash in Bank-Local Currency 543,639,960 520,471,525
Cash in Bank-Local Currency, Bangko Sentral ng
Pilipinas 1,019,452 932,197
Cash in Bank-Local Currency, Current Account 74,388,448 83,107,450
Cash in Bank-Local Currency, Savings Account 20,145,699 33,005,528
Due from Bangko Sentral ng Pilipinas -Local Currency 420,562,827 383,278,599
Due from Other Banks-Local Currency 27,523,534 20,147,751
Cash in Bank-Foreign Currency 11,724,823 12,592,422
Cash in Bank-Foreign Currency, Bangko Sentral ng
Pilipinas - 11,553
Cash in Bank-Foreign Currency, Current Account 26,907 48,003
Cash in Bank-Foreign Currency, Savings Account 7,345,166 7,612,225
Due from Other Banks-Foreign Currency 4,352,750 4,920,641
Treasury/Agency Cash Accounts 44,795 25,528
Cash-Modified Disbursement System (MDS), Regular 44,795 25,528
Cash Equivalents 319,751,754 293,470,468
Treasury Bills 4,690,556 3,527,854
Time Deposits-Local Currency 294,401,186 280,010,514
Time Deposits-Foreign Currency 20,649,790 9,921,945
Treasury Bonds 10,156 10,156
Cash in Transit 67 -
Total 921,784,087 867,710,462
Cash on Hand was composed mostly of Local Currency on Hand amounting to P42.44
billion or 91.03 percent in which LBP recognized the highest amount of P36.81 billion
or 86.72 percent.
Cash in Bank-Local Currency was largely made up of Due from Bangko Sentral ng
Pilipinas-Local Currency amounting to P420.56 billion or 77.36 percent, of which
P331.20 billion or 78.75 percent was recognized by LBP representing demand and
special deposits in local currency maintained with BSP to meet reserve requirements
and to serve as clearing account for interbank claims consistent with BSP guidelines.
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A large portion of the Cash in Bank-Foreign Currency pertains to Cash in Bank-Foreign
Currency, Savings Account totalling P7.35 billion or 62.65 percent, of which P2.49
billion or 33.95 percent and P1.44 billion or 19.55 was reported by GSIS and Philippine
Amusement and Gaming Corporation (PAGCOR), respectively. Due from Other Banks-
Foreign Currency of P4.35 billion or 37.12 percent also formed a large part and was
reported solely by LBP.
Of the P44.80 million Treasury/Agency Cash Accounts, P44.72 million or 99.84

percent pertains to the Philippine Coconut Authority (PCA). The remaining 0.16
percent or 0.71 million pertains to National Irrigation Administration (NIA).
Cash Equivalents of P319.75 billion was recognized largely by DBP, PAGCOR, and
LBP amounting P60.47 billion or 18.91 percent, P51.94 billion or 16.24 percent, and
P50.02 billion or 15.64 percent, respectively. DBP’s share refers to its placements with
the BSP with maturities of three months or less from the date of acquisition and
overnight placements with the BSP where the underlying securities cannot be sold or re-
pledged while LBP’s share pertains to its domestic government securities purchased
under reverse repurchase agreement with the BSP and private corporation. The amount
reported by PAGCOR represents placements in time deposit which have maturity terms
not exceeding 90 days and can be pre-terminated when necessary.
The balances of Cash and Cash Equivalents of P921.78 billion as shown in the SFPos
and P1.665 trillion as shown in the SCF differ by P743.08 billion mainly due to the
Cash and Cash Equivalents of BSP of P743.08 billion consisting of foreign currency
assets of P2.620 trillion and local currency assets of P224.18 billion, reduced by
demand liabilities of P2.101 trillion.
6. INTERNATIONAL RESERVES
This group of accounts is used solely by the BSP and is composed of the following:
2017
2018
(in thousand pesos)
Due from Foreign Banks -Demand and Time Deposits,
inclusive of accrued interest 1,123,248,163 831,774,931
Foreign Currency on Hand 1,131,823 233,179
Foreign Investments 2,134,396,095 2,719,308,711
Gold in bullion vaults 174,494,554 170,927,051
Gold with Foreign Financial Institutions 254,080,725 245,582,748
Accrued Interest Paid on Foreign Securities Purchased 32,731 3,105
Holdings of Special Drawing Rights 62,332,053 60,560,218
Loan to International Monetary Fund 2,111,093 2,687,565
Foreign Securities Purchased Under Agreement to Resell 388,335,444 25,518,546
Total 4,140,162,681 4,056,596,053
Foreign Investments of P2.134 trillion was composed of marketable securities

consisting of foreign securities (free) and repurchase agreements totalling P1.499
trillion; and Other Investments consisting of externally managed funds, Asian bond
43
fund, and Bank for International Settlement and Investment Pool totalling P627.39
billion. The remaining P8.18 billion pertains to the accrued interest.
The total Due From Foreign Banks of P1.123 trillion represents demand and time
deposits of BSP with foreign depository banks amounting to P127.20 billion and
P993.13 billion, respectively, or a total of P1.120 trillion, plus accrued interest of P2.91
billion.
7. FINANCIAL ASSETS (CURRENT)
The composition of this group of accounts is as follows:
2017
2018
(in thousand pesos)
Financial Assets at Fair Value Through Surplus/Profit or
Deficit/Loss 271,226,982 723,379,782
Financial Assets Held for Trading 11,158,594 13,433,604
Financial Assets Designated at Fair Value Through
Surplus/Profit or Deficit/Loss 259,935,681 709,736,952
Derivative Financial Assets Designated at Fair Value
Through Surplus/Profit or Deficit/Loss 132,708 209,226
Financial Assets-Held to Maturity 217,153,923 198,798,207
Investments in Treasury Bills -Local 203,931,132 192,044,874
Investments in Bonds-Local 13,246,305 6,753,266
Premium on Investments in Bonds-Local 234 68
Discount on Investments in Bonds-Local (23,748) -
Net Value-Investments in Bonds -Local 13,222,791 6,753,333
Financial Assets-Available For Sale Securities 966,682 72,000,866
Available For Sale Securities 966,682 72,273,508
Allowance for Impairment-Available for Sale Securities - (272,642)
Net Value-Available For Sale Securities 966,682 72,000,866
Investment Securities at Amortized Cost 4,792,749 12,254,884
Financial Assets at Fair Value Through Other Comprehensive
Income 45,843,306 -
Total 539,983,642 1,006,433,739
Financial Assets at Fair Value Through Surplus/Profit or Deficit/Loss was largely made
up of Financial Assets Designated at Fair Value Through Surplus/Profit or Deficit/Loss
amounting to P259.94 billion or 95.84 percent. Of this amount, GSIS reported an 86.32
percent share or P224.38 billion consisting of stocks traded – P215.03 billion, and
externally managed funds – P9.34 billion.
Financial Assets Held to Maturity was composed mostly of Investments in Treasury

Bills-Local amounting to P203.93 billion or 93.91 percent, of which BSP recognized
the highest amount of P170.47 billion or 83.59 percent.
An enormous amount of Financial Assets Available for Sale Securities was reported by
Philippine Sugar Corporation (PHILSUCOR) and Trade and Investment Development
Corporation of the Philippines (TIDCORP) at net amount of P534.11 million or 55.25
percent and P420.72 million or 43.52 percent, respectively.
44
Investment Securities at Amortized Cost was 100 percent reported by the Philippine
Deposit Insurance Corporation (PDIC) consisting of special savings and time deposits,
treasury bills, notes and bonds. The total Financial Assets at Fair Value Through Other
Comprehensive Income was 100 percent reported by LBP.
8. OTHER INVESTMENTS (CURRENT)
2017
2018
(in thousand pesos)
Sinking Fund 3,933,790 12,580,289
Investments in Time Deposits 52,001,604 59,302,063
Investments in Time Deposits -Local Currency 48,240,580 57,204,270
Investments in Time Deposits -Foreign Currency 3,761,024 2,097,793
Other Investments 462,901 1,332,874
Investments in Stocks 1,332 704,388
Other Investments 850,517 1,017,436
Allowance for Impairment (388,949) (388,949)
Net Value-Other Investments 461,568 628,487
Total 56,398,294 73,215,226
Sinking Fund was reported by the PDIC and WDs amounting to P3.75 billion or 95.27
percent, and P186.11 million or 4.73 percent, respectively. This represents funds being
accumulated to repay loans upon maturity.
Total Investments in Time Deposits of P52.00 billion was divided into Local and
Foreign Currency amounting to P48.24 billion or 92.77 percent and P3.76 billion or
7.23 percent, respectively. The three GCs that reported the highest total Investments in
Time Deposits-Local Currency are Manila International Airport Authority (MIAA) –
P12.30 billion or 25.49 percent, Tourism Infrastructure and Enterprise Zone Authority
(TIEZA) – P11.61 billion or 24.06 percent, and Civil Aviation Authority of the
Philippines (CAAP) – P5.10 billion or 10.58 percent. On the other hand, CAAP and
Philippine Retirement Authority (PRA) reported the biggest amounts of Investments in
Time Deposits-Foreign Currency of P1.46 billion or 38.78 percent and P1.34 billion or
35.61 percent, respectively.
Other Investments consisted mostly of Other Investments with a net amount of P461.57
million or 99.71 percent, of which the National Food Authority (NFA) has recognized
P444.90 million or 96.39 percent.
45
9. RECEIVABLES (CURRENT)
This group of accounts consists of the following:
2017
2018
(in thousand pesos)
Loans and Receivable Accounts 1,120,226,722 1,281,701,489
Allowance for Impairment (178,534,536) (157,009,472)
Net Value-Loans and Receivable Accounts 941,692,185 1,124,692,016
Lease Receivables 42,645,255 37,916,255
Net Value-Lease Receivables 41,978,075 37,291,617
Inter-Agency Receivables 61,247,613 57,625,323
Intra-Agency Receivables 304,489,930 304,133,563
Other Receivables 32,514,072 32,491,023
Net Value-Other Receivables 30,725,237 31,042,694
Total 1,380,133,041 1,554,785,212
Of the net current portion of Receivables, Loans and Receivable Accounts were the
highest component of P941.69 billion or 68.23 percent, followed by Intra-Agency
Receivables of P304.49 billion or 22.06 percent. The five GCs that reported the biggest
amounts of net current receivables are LBP – P351.53 billion or 25.47 percent, NFA –
P304.41 billion or 22.06 percent, BSP – P171.63 billion or 12.44 percent, HDMF –
P158.52 billion or 11.49 percent, and PSALM – P157.81 billion or 11.43 percent.
Below are the details of each sub-major account of Receivables.
9.1. Loans and Receivable Accounts
2017
2018
(in thousand pesos)
Accounts Receivable 235,924,029 238,696,391
Net Value-Accounts Receivable 165,829,852 178,274,185
Notes Receivable 2,524,838 2,881,916
Net Value-Notes Receivable 2,082,361 2,442,688
Loans Receivable-Local Government Units 29,890 22,371
Net Value-Loans Receivable-Local Government Units 22,418 10,277
Interests Receivable 110,583,974 109,353,315
Net Value-Interests Receivable 71,603,977 67,904,488
Dividends Receivable 229,888 256,665
Allowance for Impairment (4) -
Net Value-Dividends Receivable 229,884 256,665
Loans Receivable-Other Government Corporations 6,726,993 6,206,032
Net Value-Loans Receivable-Other Government
Corporations 3,134,595 3,611,172
46
2017
2018
(in thousand pesos)
Subrogated Claims Receivable 474,688 474,688
Net Value-Subrogated Claims Receivable (904) (904)
Contributions and Premiums Receivable 44,286,846 40,327,515
Net Value-Contributions and Premiums Receivable 20,197,390 25,873,400
Mortgage Contracts Receivable 138,895,539 104,812,938
Net Value-Mortgage Contracts Receivable 113,617,656 80,439,225
Inter-bank Loans Receivable 98,321,817 44,541,402
Net Value-Inter-bank Loans Receivable 95,808,658 41,867,414
Deficiency Claims Receivable 1,224,455 1,030,971
Allowance for Impairment (1,050,235) (925,407)
Net Value-Deficiency Claims Receivable 174,220 105,564
Due from Reinsurer 5,334,265 6,778,202
Net Value-Due from Reinsurer 3,000,718 4,441,121
Accrued Service Fee Receivable 9,146 9,157
Net Value-Accrued Service Fee Receivable 7,322 7,952
Sales Contract Receivable 7,740,290 6,980,883
Net Value-Sales Contract Receivable 3,196,955 2,864,570
Reinsurance Receivable - 1
Receivership and Liquidation Receivable - 2,278
Loans Receivable-Others 467,920,062 719,326,762
Net Value-Loans Receivable-Others 462,787,082 716,591,921
Total 941,692,185 1,124,692,016
Net Loans and Receivable-Others of P462.79 billion or 49.14 percent of the

total Loans and Receivable Accounts pertains mostly to LBP’s loans to various
entities in the amount of P302.93 billion or 65.46 percent.
Net Accounts Receivable of P165.83 billion representing 17.61 percent of the

total Loans and Receivables Accounts was recognized mostly by PSALM in the
amount of P89.74 billion or 54.12 percent consisting of (1) trade receivables for
power generation charges, including ancillary service charges and restructured
power receivables, net of refunds to power customers resulting from Energy
Regulatory Commission’s decisions; and (2) receivables due from independent
power producer (IPP) administrators for the operating costs incurred by the
corresponding Build-Operate-Transfer (BOT) IPP plant.
Net Mortgage Contracts Receivable of P113.62 billion also formed a large part
at 12.07 percent, of which HDMF recognized P112.97 billion or 99.43 percent
pertaining to the loans to Pag-IBIG members that are backed-up by real estate
mortgages (REMs)/contracts to sell (CTS) under the various home lending
programs of the fund.
47
9.2. Lease Receivables
2017
2018
(in thousand pesos)
Operating Lease Receivable 2,186,870 1,926,259
Net Value-Operating Lease Receivable 1,563,856 1,313,987
Finance Lease Receivable 40,458,384 35,989,997
Net Value-Finance Lease Receivable 40,414,220 35,977,630
Total 41,978,075 37,291,617
Net Finance Lease Receivable was reported mostly by PSALM in the amount of
P39.68 billion or 98.19 percent, which refers to the monthly payments paid by
IPP administrators to PSALM. Net Operating Lease Receivable was recognized
mostly by Bases Conversion and Development Authority (BDCA), Philippine
National Railways (PNR), and Philippine National Oil Company (PNOC) in the
amounts of P538.34 million or 34.42 percent, P325.28 million or 20.80 percent,
and P206.63 million or 13.21 percent, respectively.
9.3. Inter-Agency Receivables
2017
2018
(in thousand pesos)
Due from National Government Agencies 29,017,925 23,124,551
Due from Local Government Units 2,872,371 2,574,577
Due from Government Corporations 26,301,732 26,752,521
Due from Subsidiaries/Joint
Ventures/Associates/Affiliates 1,577,554 1,458,128
Due from Parent Corporations 1,478,031 3,715,546
Total 61,247,613 57,625,323
PHIC shared 37.20 percent or P10.79 billion of the total Due from National
Government Agencies representing premium contributions.
NIA and PSALM recognized P13.46 billion or 51.18 percent and P10.01 billion
or 38.08 percent, respectively, of the total Due from Government Corporations.
NIA’s share includes receivables from the National Power Corporation (NPC)
relative to the sale of electrical energy generated by the Casecnan Multi-Purpose
Irrigation and Power Project per Power Purchase Agreement and Supplemental
Agreement while PSALM’s share represents energy and capacity losses incurred
by the Angat Hydroelectric Power Plant in the implementation of Metropolitan
Waterworks and Sewerage System (MWSS) Angat Water Supply Optimization
Project.
48
9.4. Intra-Agency Receivables
2017
2018
(in thousand pesos)
Due from Operating Units 123,343,185 126,179,555
Due from Other Funds 2,601,614 2,700,479
Due from Central Office/Home/Head Office 137,749,236 135,062,974
Due from Regional/Branch Offices 40,795,895 40,190,554
Total 304,489,930 304,133,563
Of the combined Intra-Agency Receivables of P304.49 billion or 22.06 percent

of the total Net Receivables, P300.18 billion or 98.58 percent was reported by
NFA, consisting of Due from Central Office/Home/Head Office of P137.74
billion, Due from Regional/Branch Offices of P39.15 billion and Due from
Operating Units of P123.29 billion.
9.5. Other Receivables
2017
2018
(in thousand pesos)
Receivables-Disallowances/Charges 1,793,376 1,607,802
Due from Officers and Employees 4,212,832 4,451,868
Due from Non-Government Organizations/People's
Organizations 3,682,659 3,193,435
Insurance Claims Receivable 3,329 2,377
Allowance for Impairment (1) (1)
Net Value-Insurance Claims Receivable 3,329 2,377
Guarantee Receivables 43,142 43,957
Guaranty Call Receivable 17,468 1,317
Net Value-Guaranty Call Receivable 16,754 604
Universal Charge Receivable 1,147,250 1,128,691
Total 30,725,237 31,042,694
Other Receivables was composed mostly of Other Receivables with a net

amount of P19.83 billion or 64.53 percent. Of this amount, MWSS, PSALM,
and SSS reported the biggest amounts at P5.62 billion or 28.34 percent, P4.34
billion or 21.88 percent, and P3.15 billion or 15.91 percent, respectively.
49
10. INVENTORIES
The breakdown of this group of accounts is as follows:
2017
2018
(in thousand pesos)
Inventory Held for Sale 63,614,916 55,917,911
Net Value-Inventory Held for Sale 63,567,154 55,869,210
Inventory Held for Distribution 1,570,217 848,134
Inventory Held for Manufacturing 12,035,648 11,209,637
Net Value-Inventory Held for Manufacturing 11,988,710 11,168,682
Inventory Held for Consumption 10,958,447 10,222,041
Net Value-Inventory Held for Consumption 10,950,697 10,214,091
Semi-Expendable Machinery and Equipment 85,964 88,363
Semi-Expendable Furniture, Fixtures and Books 30,412 17,972
Domestic Gold and Silver Inventory 2,030,837 1,330,466
Plant Inventory 7,425,135 5,427,750
Total 97,649,125 84,964,666
Inventories was composed mostly of Inventory Held for Sale at a net of P63.57 billion
or 65.10 percent, followed by Inventory Held for Manufacturing at a net of P11.99
billion or 12.28 percent, and Inventory Held for Consumption at a net of P10.95 billion
or 11.21 percent. The three GCs that maintained the highest amounts of Inventories are
NHA, PNOC, and BSP of P52.98 billion or 54.25 percent, P13.69 billion or 14.02
percent, and P11.15 billion or 11.42 percent, respectively. Below are the details of the
sub-major accounts of Inventories.
10.1. Inventory Held for Sale
2017
2018
(in thousand pesos)
Merchandise Inventory 63,614,916 55,917,911
Net Value-Merchandise Inventory 63,567,154 55,869,210
Total 63,567,154 55,869,210
Inventory Held for Sale pertains mostly to NHA in the amount of P42.22
billion or 66.42 percent which represents the cost of developed lots, houses and
buildings transferred from Work-in-Process Inventory for disposition/sale.
50
10.2. Inventory Held for Distribution
2017
2018
(in thousand pesos)
Food Supplies for Distribution 2,130 2,009
Welfare Goods for Distribution 8,082 -
Drugs and Medicines for Distribution 77,639 72,538
Medical, Dental and Laboratory Supplies for
Distribution 28,927 38,511
Agricultural and Marine Supplies for Distribution 89,351 21,342
Construction Materials for Distribution 54,063 73,802
Property and Equipment for Distribution 1,050,011 562,208
Other Supplies and Materials for Distribution 260,013 77,723
Total 1,570,217 848,134
Total Inventory Held for Distribution was substantially composed of Property

and Equipment for Distribution of P1.05 billion or 66.78 percent, of which
NHA shared 98.73 percent or P1.04 billion representing the cost of
infrastructure/community facilities for transfer to various government agencies
such as Department of Health, MWSS, Department of Public Works and
Highways, Department of the Interior and Local Government, Local Water
Utilities Administration, Department of Education and Department of Social
Welfare and Development.
10.3. Inventory Held for Manufacturing
2017
2018
(in thousand pesos)
Raw Materials Inventory 1,271,306 324,183
Net Value-Raw Materials Inventory 1,235,624 292,759
Work-in-Process Inventory 10,026,657 10,145,282
Net Value-Work-in-Process Inventory 10,015,400 10,135,751
Finished Goods Inventory 737,685 740,171
Total 11,988,710 11,168,682
Inventory Held for Manufacturing mostly includes Work-in-Process Inventory

of P10.03 billion or 83.54 percent. Of this amount, P9.71 billion or 96.90
percent pertains to NHA which represents the cost of its on-going projects.
51
10.4. Inventory Held for Consumption
2017
2018
(in thousand pesos)
Office Supplies Inventory 922,044 821,431
Net Value-Office Supplies Inventory 921,504 821,056
Accountable Forms, Plates and Stickers Inventory 192,830 254,371
Net Value-Accountable Forms, Plates and Stickers
Inventory 192,819 254,363
Non-Accountable Forms Inventory 2,756 1,280
Food Supplies Inventory 42,734 42,730
Drugs and Medicines Inventory 86,142 98,138
Medical, Dental and Laboratory Supplies Inventory 294,313 262,408
Fuel, Oil and Lubricants Inventory 1,951,117 2,136,261
Net Value-Fuel, Oil and Lubricants Inventory 1,949,884 2,135,029
Agricultural and Marine Supplies Inventory 124,015 94,567
Allowance for Impairment (94) -
Net Value-Agricultural and Marine Supplies
Inventory 123,921 94,567
Textbooks and Instructional Materials Inventory 2,193 384
Military, Police and Traffic Supplies Inventory 61,509 42,200
Chemical and Filtering Supplies Inventory 83,045 67,782
Net Value-Chemical and Filtering Supplies Inventory 83,027 67,777
Construction Materials Inventory 1,451,885 1,141,686
Net Value-Construction Materials Inventory 1,451,847 1,140,761
Currency Inventory 1,235,045 1,290,874
Information Materials Inventory 97 84
Linens and Beddings 9,760 7,569
Play/Bet Slips and Thermal Rolls Supplies Inventories 134,986 8,599
Electrical Supplies and Materials Inventory 21,835 10,166
Other Supplies and Materials Inventory 4,342,398 3,941,511
Net Value-Other Supplies and Materials Inventory 4,336,325 3,936,107
Total 10,950,697 10,214,091
Inventory Held for Consumption composed mostly of Other Supplies and

Material Inventory in the amount of P4.34 billion representing 39.60 percent,
of which PSALM, NPC, and WDs registered the highest amounts of P857.69
million or 19.78 percent, P843.23 million or 19.45 percent, and P828.47
million or 19.11 percent, respectively.
Of the total net Inventory Held for Consumption, net Fuel, Oil, and Lubricants
Inventory shared 17.81 percent, which composed mostly of PSALM’s cost of
heavy fuel oil, industrial diesel oil, coal, and lube oil used for the operation of
heavy equipment and other machineries for operation of power plants
amounting to P1.49 billion or 76.58 percent.
52
10.5. Semi-Expendable Items
2017
2018
(in thousand pesos)
Semi-Expendable Machinery and Equipment 85,964 88,363
Semi-Expendable Office Equipment 16,674 18,882
Semi-Expendable Information and Communication
Technology Equipment 11,397 12,057
Semi-Expendable Agricultural and Forestry
Equipment 2,657 1,731
Semi-Expendable Airport Equipment 634 634
Semi-Expendable Communication Equipment 14,056 14,859
Semi-Expendable Disaster Response and Rescue
Equipment 1,264 317
Semi-Expendable Military, Police and Security
Equipment 51 14
Semi-Expendable Medical Equipment 1,933 1,622
Semi-Expendable Printing Equipment 544 300
Semi-Expendable Sports Equipment 287 108
Semi-Expendable Technical and Scientific
Equipment 2,023 2,774
Semi-Expendable Construction and Heavy
Equipment 372 224
Semi-Expendable Kitchen Equipment 201 210
Semi-Expendable Electrical Equipment 542 17
Semi-Expendable Other Machinery and Equipment 33,330 34,613
Semi-Expendable Furniture, Fixtures and Books 30,412 17,972
Semi-Expendable Furniture and Fixtures 28,947 17,823
Semi-Expendable Books 1,465 148
10.6. Domestic Gold and Silver and Plant Inventory
2017
2018
(in thousand pesos)
Domestic Gold and Silver Inventory 2,030,837 1,330,466
Gold for Refining 1,991,919 1,287,799
Gold for Domestic Sales 37,358 41,378
Silver for Domestic Sales 388 388
Silver for Refining 1,172 900
Plant Inventory 7,425,135 5,427,750
Both the total Domestic Gold and Silver Inventory and the Plant Inventory was
100 percent reported by BSP. The Plant Inventory pertains to its Security Plant
Complex Inventories.
53
11. NON-CURRENT ASSETS HELD FOR SALE
CY 2018 gross amount of P11.60 billion with Accumulated Impairment Losses of

P937.24 million or a net of P10.66 billion was reported mostly by Home Guaranty
Corporation (HGC) at a net amount of P5.82 billion or 54.57 percent which represents
the various foreclosed assets as a result of payment of guaranty obligations.
12. OTHER CURRENT ASSETS
2017
2018
(in thousand pesos)
Advances 874,151 944,156
Advances for Operating Expenses 124,622 65,733
Advances for Payroll 276,721 273,948
Advances to Special Disbursing Officers 166,332 293,592
Advances to Officers and Employees 306,476 310,883
Prepayments 52,823,590 59,663,287
Advances to Contractors 14,180,135 10,792,982
Prepaid Rent 79,141 80,457
Prepaid Registration 3,811 3,296
Prepaid Interest 598 2,328
Prepaid Insurance 129,321 88,368
Input Tax 20,862,833 (1,315,768)
Creditable Input Tax 7,159,190 5,791,213
Withholding Tax at Source 2,520,112 3,176,467
Other Prepayments 7,888,449 41,043,944
Deposits 10,452,632 10,054,956
Deposit on Letters of Credit 49,757 9,593
Guaranty Deposits 523,455 504,173
Other Deposits 9,879,419 9,541,191
Restricted Fund 1,233,314 908,742
Other Assets 6,565,286 8,052,445
Deferred Charges/Losses 141,268 200,475
Other Assets 6,848,092 8,215,597
Accumulated Impairment Losses (424,074) (363,628)
Net Value-Other Assets 6,424,018 7,851,969
Total 71,948,972 79,623,586
Prepayments of P52.82 billion or 73.42 percent registered the highest amount among
Other Current Assets. Input Tax of P20.86 billion representing 39.50 percent of the total
Prepayments includes P19.76 billion or 94.70 percent reported by PSALM. Advances to
Contractors shared 26.84 percent, of which NIA recognized P5.73 billion or 40.39
percent.
Deposits was mostly recognized also by PSALM at an amount of P9.22 billion or 88.19
percent while LBP reported the biggest amount of Net Other Assets at P4.22 billion or
64.22 percent.
54
Restricted Fund was reported by BCDA pertaining to the fund deposited at DBP, the
escrow agent, for the Authority’s expropriation cases at Wallace Air Station within Poro
Point Special Economic Zone.
13. NON-INTERNATIONAL RESERVES FOREIGN ASSETS

Non-International Reserves Foreign Assets aggregating P93.41 billion was reported
solely by BSP, of which P93.38 billion or 99.97 percent represents Investments in Other
Foreign Exchange Denominated Securities which primarily consists of investments in
Republic of the Philippines (ROP) Bonds issued by the National Government (NG) and
investments in Yankee bonds acquired by the BSP in the open market to mature in CY
2027. The remaining P27.72 million or 0.03 percent represents Due from Foreign
Banks-Special Accounts, which is used to recognize all peso/dollar purchase/sale
transactions through the PDS, and serves as a temporary non-international reserve
account from which funds are transferred to/from the Federal Reserve.
14. FINANCIAL ASSETS (NON-CURRENT)

2017
2018
(in thousand pesos)
Financial Assets at Fair Value Through Surplus/Profit or
Deficit/Loss 1,890,755 1,333,229
Derivative Financial Assets Designated at Fair Value
Through Surplus/Profit or Deficit/Loss 1,890,755 1,333,229
Financial Assets-Held to Maturity 906,731,067 711,260,753
Investments in Treasury Bills -Local 80,679,765 51,884,773
Allowance for Impairment (9,825) -
Net Value-Investments in Treasury Bills -Local 80,669,940 51,884,773
Investments in Treasury Bills -Foreign 48,835,961 11,746,001
Investments in Bonds-Local 734,842,934 629,386,048
Premium on Investments in Bonds-Local 6,092,292 7,956,539
Discount on Investments in Bonds-Local (532,329) (459,560)
Net Value-Investments in Bonds -Local 740,033,046 636,513,175
Investments in Bonds-Foreign 37,607,862 11,116,805
Allowance for Impairment (415,742) -
Net Value-Investments in Bonds -Foreign 37,192,120 11,116,805
Financial Assets-Available For Sale Securities 135,833,720 395,443,990
Available For Sale Securities 137,125,768 398,145,238
Net Value-Available For Sale Securities 135,833,720 395,443,990
Financial Assets-Domestic Investments 764,338 599,998
Due from Local Banks 764,338 601,195
Allowance for Impairment - (1,196)
Net Value-Due from Local Banks 764,338 599,998
Allowance for Impairment - (30,000)
Net Value-Investment Securities at Amortized Cost 303,069,528 255,991,289
Financial Assets at Fair Value Through Other Comprehensive
Income 614,491,002 3,525,499
Total 1,962,780,410 1,368,154,758
55
Financial Assets at Fair Value Through Surplus/Profit or Deficit/Loss was reported by
PSALM and Small Business Guarantee and Finance Corporation in the amounts of
P1.74 billion or 91.98 percent and P151.55 million or 8.02 percent, respectively.
PSALM’s account pertains to the carrying amount of the 5-year Long-Term Negotiable
Certificates of Time Deposit acquired on October 9, 2015 and November 5, 2013 and
the carrying amount of the principal-only-swap to cover PSALM’s maturing obligation
in 2028.
Net amount of Financial Assets Held to Maturity of P906.73 billion included mostly
Investments in Bonds-Local and Investments in Bonds-Foreign amounting to P740.03
billion and P37.19 billion, respectively, where LBP got a share of 61.33 percent or
P453.83 billion from the local currency portion and 99.54 percent or P37.02 billion
from the foreign currency portion. The remaining net amount of Financial Assets Held
to Maturity pertains to Investments in Treasury Bills-Local and Investments in Treasury
Bills-Foreign amounting to P80.67 billion and P48.84 billion, respectively, where DBP
got a share of 97.77 percent or P78.87 billion from the local currency portion and 100
percent from the foreign currency portion.
Net Financial Assets Available for Sale Securities was largely recognized by SSS in the
amount of P87.93 billion or 64.73 percent. HDMF also registered a significant amount
of P46.61 billion or 34.32 percent composing of investment in bonds and other debt
instruments and investment in stocks.
Financial Assets-Domestic Investments of P764.34 million pertains solely to the Due

from Local Banks of BSP.
Investment Securities at Amortized Cost was composed mostly of PDIC’s corporate

investments totalling P176.01 billion or 58.08 percent consisting of special savings and
time deposits, treasury bills, notes and bonds. PHIC also registered a large amount of
P124.88 billion or 41.20 percent representing investment in government and corporate
bonds with a maturity of more than one year.
Financial Assets at Fair Value Through Other Comprehensive Income amounting to

P614.49 billion was recognized mostly by GSIS amounting to P454.68 million or 73.99
percent. It is composed of ROP notes and bonds, corporate bonds, externally managed
funds, treasury bills, global peso notes, and stocks-non-traded.
15. INVESTMENTS IN JOINT VENTURE
This account was made up mostly of NHA’s equity on various joint venture projects
amounting to P4.85 billion or 72.58 percent. Of this amount, P4.77 billion or 98.29
percent represents the Urban Triangle Development Project which pertains to the Joint
Venture Agreement with Ayala Land, Inc. Investments in Joint Venture is composed of
the following:
56
2018 2017
(in thousand pesos)
National Housing Authority 4,848,126 5,336,975
Cagayan Economic Zone Authority 691,000 691,000
Subic Bay Metropolitan Authority 361,744 290,878
Water Districts 228,573 103,812
PNOC Renewables Corporation 161,820 161,820
Intercontinental Broadcasting Corporation 151,816 276,816
PNOC Exploration Corporation 70,684 70,684
Development Bank of the Philippines 49,675 49,675
National Development Company 45,000 45,000
Bases Conversion and Development Authority 43,544 23,962
APO Production Unit, Inc. 21,500 21,500
Poro Point Management Corporation 15,000 15,000
Small Business Guarantee and Finance Corporation 18,698 18,698
PHIVIDEC Industrial Authority 81 81
Total 6,707,261 7,105,901
Net Amount 6,679,898 7,101,676
16. INVESTMENTS IN ASSOCIATES/AFFILIATES
Of the total net amount of P17.19 billion, P14.06 billion or 81.77 percent pertains to
BCDA which represents its investments in various affiliates. Details of this account are
as follows:
2018 2017
(in thousand pesos)
Bases Conversion and Development Authority 14,056,048 14,709,331
Government Service Insurance System 2,018,139 2,141,513
National Home Mortgage Finance Corporation 1,532,564 1,532,564
Landbank of the Philippines 581,627 -
National Development Company 433,148 403,180
Tourism Infrastructure and Enterprise Zone Authority 165,690 164,357
Development Bank of the Philippines 106,764 106,764
Philippine National Oil Company 99,978 99,978
DBP Management Corporation 16,000 16,000
Manila International Airport Authority 11,850 11,850
Philippine Aerospace Development Corporation 11,799 11,799
Southern Philippines Development Authority 5,180 5,180
Manila Gas Corporation 2,050 2,050
Subic Bay Metropolitan Authority - 5,999
Total 19,040,838 19,210,565
Net Amount 17,189,588 17,421,214
17. INVESTMENTS IN SUBSIDIARIES
Of the total Investments in Subsidiaries of P186.38 billion, PSALM recognized P154.95

billion or 83.14 percent representing the cost or fair value of investments in National
Transmission Corporation (TransCo) acquired in accordance with the Electric Power
57
Industry Reform Act (EPIRA). Investments in Subsidiaries was reported by the
following GCs:
2017
2018
Government Corporation (Restated)
(in thousand pesos)
Power Sector Assets and Liabilities Management Corporation 154,954,153 218,211,221
National Home Mortgage Finance Corporation 14,616,554 14,379,145
Philippine National Oil Company 5,628,458 5,628,458
Bases Conversion and Development Authority 3,646,715 3,646,715
AFP Retirement and Separation Benefits System 2,222,450 2,718,827
Development Bank of the Philippines 2,176,030 2,176,030
Landbank of the Philippines 1,460,534 438,775
National Development Company 1,672,147 1,672,147
Philippine Postal Corporation 5,302 474,763
Philippine Reclamation Authority 2,000 7,000
Manila International Airport Authority 655 655
Total 186,384,999 249,353,737
Net Amount 183,274,261 245,757,474
18. OTHER INVESTMENTS (NON-CURRENT)
This account is broken down as follows:
2017
2018
(in thousand pesos)
Sinking Fund 45,418,473 41,608,198
Investments in Time Deposits 11,363,990 10,263,045
Investments in Time Deposits -Local Currency 3,227,129 2,661,763
Investments in Time Deposits -Foreign Currency 8,136,861 7,601,282
Other Investments 79,729,539 75,149,401
Investments in Stocks 4,305,918 4,037,323
Net Value-Investments in Stocks 2,314,750 2,046,155
Investments in Non-Marketable Securities 424,509 414,985
Net Value-Other Investments 76,990,280 72,688,261
Total 136,512,002 127,020,644
Sinking Fund pertains mostly to PDIC amounting to P43.32 billion or 95.38 percent
which represents the balance of funds being accumulated to repay its loans upon
maturity, a portion of which is being managed by the BSP-Treasury Department.
Of the total Investments in Time Deposits-Local Currency of P3.23 billion, PNOC-EC

recognized the highest amount of P2.13 billion or 66.11 percent. Of the total
Investments in Time Deposits-Foreign Currency of P8.14 billion, SBMA recognized
58
Of the Other Investments of P77.58 billion, NIA recognized P72.70 billion or 93.71
percent which represents the cash advances granted by the Bureau of the Treasury (BTr)
to California Energy Casecnan Water Electric Company, Inc. (CECWECI) for the
account of NIA for water deliveries under the BOT scheme of the project agreement
entered into by and between CECWECI and NIA on November 13, 1994.
19. RECEIVABLES (NON-CURRENT)
2017
2018
(in thousand pesos)
Loans and Receivable Accounts 1,790,714,287 1,231,850,941
Net Value-Loans and Receivable Accounts 1,607,404,074 1,060,045,646
Lease Receivables 217,941,036 247,409,139
Total 2,076,908,506 1,536,810,819
The net Loans and Receivable Accounts of P1.607 trillion represents 77.39 percent of
P2.077 trillion. The five GCs that reported the biggest amounts of non-current
Receivables are LBP – P459.37 billion or 22.12 percent, HDMF – P294.85 billion or
14.20 percent, DBP – P269.74 billion or 12.99 percent, GSIS – P238.53 billion or 11.48
percent, and PSALM – P232.95 billion or 11.22 percent. Below are the details of each
sub-major account of Non-current Receivables.
19.1. Loans and Receivable Accounts
2017
2018
(in thousand pesos)
Accounts Receivable 189,941,414 186,280,714
Net Value-Accounts Receivable 172,899,470 170,555,043
Notes Receivable 6,690,899 4,741,864
Allowance for Impairment (1,184,080) (988,566)
Net Value-Notes Receivable 5,506,819 3,753,299
Loans Receivable-Local Government Units 198,257 229,023
Net Value-Loans Receivable-Local Government Units 183,959 214,591
Interests Receivable 14,937,641 15,970,462
Net Value-Interests Receivable 2,229,816 3,262,824
59
2017
2018
(in thousand pesos)
Dividends Receivable 557,389 344,299
Loans Receivable-Other Government Corporations 70,944,480 70,422,264
Net Value-Loans Receivable-Other Government
Corporations 65,816,180 65,710,234
Subrogated Claims Receivable 66,506,924 60,126,766
Net Value-Subrogated Claims Receivable 84 489
Contributions and Premiums Receivable 460,977 315,665
Mortgage Contracts Receivable 329,076,867 310,791,600
Net Value-Mortgage Contracts Receivable 311,799,779 294,444,681
Inter-bank Loans Receivable 6,999,432 3,090,423
Net Value-Inter-bank Loans Receivable 6,919,364 3,019,915
Deficiency Claims Receivable 1,578,754 1,175,168
Allowance for Impairment (1,486,372) -
Net Value-Deficiency Claims Receivable 92,381 1,175,168
Accrued Service Fee Receivable 9,322 9,525
Net Value-Accrued Service Fee Receivable 89 161
Sales Contract Receivable 18,750,500 15,234,035
Net Value-Sales Contract Receivable 16,858,782 14,064,335
Receivership and Liquidation Receivable 2,736,112 2,557,322
Net Value-Receivership and Liquidation Receivable 17,047 17,146
Assigned Receivables 12,629,132 12,300,236
Net Value-Assigned Receivables 154,183 97,400
Loans Receivable-Others 1,068,696,186 548,261,575
Net Value-Loans Receivable-Others 1,023,907,754 503,070,395
Total 1,607,404,074 1,060,045,646
Net Loans Receivable-Others got a share of P1.024 trillion or 63.70 percent, of

which P451.40 billion or 44.09 percent pertains to LBP’s loans granted to
various entities.
Mortgage Contracts Receivable was reported mostly by HDMF in the amount

of P284.92 billion or 86.58 percent pertaining to the loans to Pag-IBIG
members that are backed-up by REMs/CTs under the various home lending
programs of the Fund.
60
19.2. Lease Receivables
2017
2018
(in thousand pesos)
Operating Lease Receivable 14,038 13,880
Net Value-Operating Lease Receivable - -
Finance Lease Receivable 217,926,999 247,395,258
Total 217,818,493 247,304,547
Of the net Lease Receivables of P217.82 billion, PSALM reported P214.14

billion or 98.31 percent which refers to the monthly payments by IPP
administrators to PSALM at fixed amounts based on an agreed amortization
schedule for the administration of the IPP plant.
19.3. Inter-Agency and Intra-Agency Receivables
2017
2018
(in thousand pesos)
Due from National Government Agencies 79,302,104 80,318,487
Due from Local Government Units 299,523 181,067
Due from Government Corporations 1,975,361 1,186,705
Due from Subsidiaries/Joint
Ventures/Associates/Affiliates 29,218,834 8,024,230
Due from Parent Corporations 100,885,639 102,259,041
Due from Other Funds 30,583,503 30,629,080
Inter-Agency Receivables composed mostly of Due from Parent Corporations

amounting to P100.89 billion or 47.66 percent which was reported solely by
TransCo. This represents advances to PSALM pertaining to collections of
concession fees by PSALM from the National Grid Corporation of the
Philippines in accordance with the concession agreement, less the amount of
remittances of quarterly net profits of TransCo to PSALM pursuant to the
EPIRA Law.
Due from National Government Agencies also registered a significant amount

of P79.30 billion or 37.46 percent, of which P78.71 billion was reported by
BSP representing the loans originally granted to the Philippine National Bank
(PNB) and DBP which were absorbed by the NG during the financial
restructuring of PNB and DBP, and the non-interest bearing loan extended to
the ROP to cover the increase in the IMF quota subscription.
61
The total amount of Intra-Agency Receivables pertains to the Due from
Administrator of Funds recognized by the BSP.
19.4. Other Receivables
The details of this group of accounts are as follows:
2017
2018
(in thousand pesos)
Receivables-Disallowances/Charges 268,934 290,942
Due from Officers and Employees 277,426 275,959
Due from Non-Government Organizations/People's
Organizations 25,513 25,977
Deficiency Judgment Receivable 20,785 20,785
Net Value-Deficiency Judgment Receivable 191 191
Guarantee Receivables 170,853 208,144
Guaranty Call Receivable 149,132 6,427
Net Value-Guaranty Call Receivable 142,709 4
Total 9,420,974 6,862,016
Of the net Other Receivables of P8.54 billion, P6.43 billion or 75.37 percent
was reported by DBP.
20. INVESTMENT PROPERTY
2017
2018
(in thousand pesos)
Land and Buildings 355,107,263 324,036,630
Investment Property, Land 327,619,138 299,087,802
Accumulated Impairment Losses (4,015,645) (4,711,801)
Net Value-Investment Property, Land 323,603,493 294,376,000
Investment Property, Buildings 37,889,967 35,281,128
Accumulated Depreciation (3,782,817) (3,099,263)
Net Value-Investment Property, Buildings 31,503,770 29,660,630
Construction in Progress 103,951 260,813
Construction in Progress -Investment Property, Buildings 103,951 260,813
Total 355,211,214 324,297,443
Of the net Investment Property, Land of P323.60 billion, GSIS got the biggest share of
P99.11 billion or 30.63 percent, while BCDA reported a total of P72.89 billion or 22.52
percent. Of the net Investment Property, Buildings of P31.50 billion, P17.42 billion or
55.28 percent was reported by HDMF.
62
A significant portion of the Construction in Progress-Investment Property, Buildings
was reported by Poro Point Management Corporation (PPMC) amounting to P49.91
million or 48.01 percent.
21. PROPERTY, PLANT AND EQUIPMENT
2017
2018
(Restated)
Accumulated
Accumulated Carrying Carrying
Particulars Gross Amount Impairment
Depreciation Amount Amount
Losses
(in thousand pesos)
Land 313,167,973 - 1,199 313,166,773 246,283,413
Land Improvements 71,921,174 29,409,848 16,169 42,495,158 49,161,306
Infrastructure Assets 397,754,934 182,088,045 39,979 215,626,910 195,002,365
Buildings and Other
Structures 153,756,504 103,682,399 651,768 49,422,338 49,339,957
M achinery and Equipment 94,803,101 57,184,122 140,321 37,478,658 35,745,240
Transportation Equipment 20,657,296 12,805,679 9,378 7,842,240 8,033,590
Furniture, Fixtures and Books 9,108,948 4,993,531 82,020 4,033,398 3,999,946
Leased Assets 772,706 589,106 958 182,642 449,915
Leased Assets Improvements 3,568,220 2,019,187 1,249 1,547,785 1,385,572
Heritage Assets 719,391 1,244 - 718,148 717,570
Service Concession Assets 433,640,498 157,279,167 - 276,361,331 270,524,651
Exploration and Evaluation
Assets 16,710,796 10,740,307 204 5,970,285 7,545,073
Bearer Trees, Plants and
Crops 74 - - 74 79
Other Property, Plant and
Equipment 14,155,597 7,525,011 47 6,630,539 5,474,553
Construction in Progress 189,211,551 - - 189,211,551 169,717,633
Total 1,719,948,765 568,317,645 943,292 1,150,687,828 1,043,380,863
Of the carrying amount of CY 2018 PPE of P1.151 trillion, Land amounting to P313.17
billion represents the highest component at 27.22 percent, of which Philippine Ports
Authority (PPA) reported the biggest amount of P61.43 billion or 19.62 percent. Other
GCs with a large carrying amounts of Land are Mactan-Cebu International Airport
Authority (MCIAA) – P53.88 billion or 17.21 percent, PNR – P40.01 billion or
12.78 percent, and CAAP – P37.34 billion or 11.92 percent.
Service Concession Assets also formed a large part with a carrying amount of P276.36
billion or 24.02 percent which represents mainly the transmission and distribution
facilities, substation and communication equipment, being operated and maintained by
the concessionaire, as well as land and land rights of TransCo in the amount of P139.04
billion or 50.31 percent.
Of the carrying amount of Infrastructure Assets aggregating P215.63 billion or 18.74

percent of the total PPE, NIA reported the highest amount of P90.94 billion or 42.18
percent, followed by WDs and PPA of P27.06 billion or 12.55 percent and P26.50
billion or 12.29 percent, respectively.
63
Of the Construction in Progress of P189.21 billion, NIA represents 78.22 percent
amounting to P147.995 billion.
22. BIOLOGICAL ASSETS
2017
2018
(in thousand pesos)
Bearer Biological Assets 651,986 652,544
Breeding Stocks 25 25
Livestock 100,698 101,259
Accumulated Impairment Losses - (7)
Net Value-Livestock 100,698 101,252
Trees, Plants and Crops 551,105 551,109
Other Bearer Biological Assets 158 158
Consumable Biological Assets 6,188 5,888
Livestock Held for Consumption/Sale/Distribution 340 40
Trees, Plants and Crops Held for Consumption/
Sale/Distribution 5,216 5,216
Other Consumable Biological Assets 633 633
Total 658,174 658,433
The National Dairy Authority recognized a net amount of P100.65 million of Livestock
representing 99.96 percent of the total amount. Both the total amounts of Breeding
Stocks and Trees, Plants and Crops were reported solely by PCA while Other Bearer
Biological Assets was reported by WDs.
Of the total amount of Trees, Plants and Crops Held for Consumption/Sale/Distribution
of P5.22 million, Philippine Rice Research Institute (PRRI) reported P2.74 million or
52.62 percent. Other Consumable Biological Assets was also reported by PRRI while
99.94 percent of the total Livestock Held for Consumption/Sale/Distribution was
recognized by PCA.
23. INTANGIBLE ASSETS
2017
2018
(in thousand pesos)
Intangible Assets 3,062,986 3,613,876
Patents/Copyrights 350 -
Computer Software 9,728,543 9,827,664
Accumulated Amortization (6,719,945) (6,397,284)
Net Value-Computer Software 2,932,769 3,352,632
Websites 3,276 1,486
Accumulated Amortization (534) (340)
Net Value-Websites 2,742 1,146
64
2017
2018
(in thousand pesos)
Goodwill 1,460 1,460
Accumulated Impairment Losses (481) (481)
Net Value-Goodwill 979 979
Other Intangible Assets 306,578 426,868
Accumulated Amortization (170,432) (157,751)
Net Value-Other Intangible Assets 126,145 259,118
Development in Progress 375,436 165,347
Development in Progress-Computer Software 114,468 105,137
Development in Progress-Websites 62 62
Development in Progress-Other Intangible Assets 260,906 60,149
Total 3,438,421 3,779,223
The net Intangible Assets of P3.06 billion was composed mainly of Computer Software
with a net value of P2.93 billion, shared mostly by LBP – P1.16 billion or 39.39
percent, DBP – P433.13 million or 14.77 percent and PHIC – P299.41 million or 10.21
percent.
Of the Development in Progress totalling P375.44 million, P260.91 million or 69.49

percent pertains to Development in Progress-Other Intangible Assets, of which HDMF
shared P155.25 million or 59.51 percent. A significant portion of the Development in
Progress-Computer Software was recognized by BSP in the amount of P90.16 million
or 78.77 percent, while the Development in Progress-Websites was 100 percent
reported by WDs.
24. DEFERRED TAX ASSETS
Total Deferred Tax Assets amounted to P15.88 billion, of which BCDA recognized in
its books of accounts the highest amount of P3.86 billion or 24.34 percent. Other GCs
with large amounts of Deferred Tax Assets are LBP – P3.42 billion or 21.53 percent,
BSP – P2.66 billion or 16.73 percent, and DBP – P2.55 billion or 16.07 percent.
25. OTHER NON-CURRENT ASSETS
This group of accounts is broken down as follows:
2017
2018
(in thousand pesos)
Prepayments 1,582,844 7,535,394
Advances to Contractors 200,513 6,208,434
Prepaid Rent 292,501 266,140
Prepaid Registration 865 858
Prepaid Interest 132,968 105,137
Prepaid Insurance 7,779 6,371
Input Tax 521,153 520,542
Creditable Input Tax 91,449 87,509
Withholding Tax at Source 10,061 47,465
65
2017
2018
(in thousand pesos)
Other Prepayments 325,556 292,938
Deposits 8,764,540 5,932,787
Deposit on Letters of Credit 55,843 58,941
Guaranty Deposits 2,474,109 918,450
Other Deposits 6,234,588 4,955,396
Restricted Fund 46,744,503 41,769,407
Other Assets 30,523,329 32,553,611
Foreclosed Property/Assets 1,667,672 1,364,001
Net Value-Foreclosed Property/Assets 1,565,924 1,265,315
Abandoned/Surrendered Property/Assets 451,000 444,477
Accumulated Impairment Losses - (21,643)
Net Value-Abandoned/Surrendered Property/Assets 451,000 422,834
Commemorative Notes and Coins 365 34
Deferred Charges/Losses 3,816,912 4,504,038
Other Assets 40,724,156 43,432,429
Net Value-Other Assets 24,689,127 26,361,389
Total 87,615,216 87,791,199
Of the Input Tax of P521.15 million, P513.20 million or 98.47 percent was reported by
North Luzon Railways Corporation (NORTHRAIL).
Of Other Deposits of P6.23 billion, P4.12 billion or 66.03 percent was reported by
Philippine Charity Sweepstakes Office (PCSO) representing the cash bond of Small
Town Lottery authorized agent, Lotto and Keno, and the Price Seed Fund
entrusted/deposited to the PCSO bank account by Pacific Online System Company,
Philippine Gaming Management Corporation, and Powerball Management Corporation
for payment of prizes for Scratch and Match.
Of the total Restricted Fund of P46.74 billion, PRA reported P15.51 billion or 33.19
percent pertaining to the required visa deposit from retiree-members which are placed
in time deposits with the DBP. Light Rail Transit Authority (LRTA) also reported P7.41
billion or 15.85 percent composed of: balances of subsidies received from the NG
intended for Line 1 South and North Extension Projects, financial assistance to
passengers, and collaterals for legal cases. NHA also recognized P7.15 billion or 15.30
percent.
Of the net Other Assets of P24.69 billion, NPC reported P5.42 billion or 21.96 percent
representing the balances of accounts set-up as working capital for the operation,
maintenance and management of the facilities and generating plants of the main grid
under the Operation and Maintenance Agreement between NPC and PSALM, and the
accounts retained in NPC books pending validations and reconciliations. HGC also
reported a huge amount of Other Assets of P4.25 billion or 17.22 percent.
66
26. FINANCIAL LIABILITIES (CURRENT)
The total Financial Liabilities is composed of the following accounts:
2017
2018
(in thousand pesos)
Payables 303,671,717 271,545,096
Bills/Bonds/Loans Payable 143,148,853 95,540,488
Tax Refunds Payable 41,211 41,510
Financial Liabilities Designated at Fair
Value Through Surplus/Profit or Deficit/Loss 3,900,304 3,523,790
Financial Liabilities Held for Trading 35,669 98,465
Domestic Securities Sold Under
Repurchase Agreements 300,867,000 305,000,000
Unsecured Subordinated Debt 10,000,000 9,995,686
Other Financial Liabilities 15,107,738 13,841,839
Total 776,772,492 699,586,874
Of the total Financial Liabilities of P776.77 billion, BSP recognized the highest amount
of P308.35 billion or 39.70 percent, followed by PSALM of P104.73 billion or 13.48
percent.
26.1. Payables
The comparative details of this group of accounts are as follows:
2017
2018
(in thousand pesos)
Accounts Payable 146,468,626 131,771,574
Due to Officers and Employees 4,081,421 4,607,719
Notes Payable 41,519,381 39,616,275
Interest Payable 16,532,425 12,350,030
Operating Lease Payable 550,575 466,515
Finance Lease Payable 229,276 122,358
Awards and Rewards Payable 159 184
Service Concession Arrangements Payable 39,505,123 37,365,804
Accrued Benefits Payable 51,871,712 44,074,257
Insurance/Reinsurance Premium Payable 2,913,019 1,170,381
Total 303,671,717 271,545,096
Of the total Payables of P303.67 billion, NFA shared P50.66 billion or 16.68
percent, which substantially consists of Notes Payable to DBP and LBP totaling
P40.62 billion and Interest Payable of P4.15 billion. HDMF shared P35.102
billion or 23.97 percent of the Accounts Payable of P146.47 billion, while PHIC
shared P47.77 billion or 92.10 percent of Accrued Benefits Payable of P51.87
billion.
67
26.2. Bill/Bonds/Loans Payable
The total Bill/Bonds/Loans Payable consists of the following:
2017
2018
(in thousand pesos)
Bonds Payable-Domestic 1,083,528 1,215,784
Bond Issue Cost-Domestic (4,564) (18,256)
Net Value-Bonds Payable-Domestic 1,078,964 1,197,528
Bonds Payable-Foreign 51,774,230 2,686,333
Discount on Bonds Payable-Foreign (32,128) (125,899)
Premium on Bonds Payable-Foreign 590 2,449
Bond Issue Cost-Foreign (18,991) (76,284)
Net Value-Bonds Payable-Foreign 51,723,701 2,486,598
Loans Payable-Domestic 30,625,297 53,353,114
Loans Payable-Foreign 5,935,586 5,792,522
Bills Payable-Bangko Sentral ng Pilipinas 62,155 62,382
Other Bills/Bonds/Loans Payable 53,723,150 32,648,344
Total 143,148,853 95,540,488
Of the aggregate total Bills/Bonds/Loans Payable of P143.15 billion, PSALM

got the highest share of P60.16 billion or 42.02 percent which substantially
consists of Bonds Payable-Foreign with net amount of P51.72 billion. Of the
Loans Payable-Domestic, NFA had the highest share of P11.55 billion or 37.72
percent. Of the Other Bills/Bonds/Loans Payable, DBP substantially shared
Of the Tax Refunds Payable of P41.21 million, MIAA reported P32.58 million
or 79.06 percent. Of the Financial Liabilities Designated at Fair Value Through
Surplus/Profit or Deficit/Loss of P3.90 billion, GSIS reported P3.90 billion or
99.91 percent. Financial Liabilities Held for Trading and Unsecured
Subordinated Debt were reported solely by DBP, while Domestic Securities
Sold Under Repurchase Agreements was reported solely by BSP. Of the Other
Financial Liabilities, Philippine National Construction Corporation (PNCC)
reported P9.55 billion or 63.20 percent.
27. DEPOSIT LIABILITIES (CURRENT)
2017
2018
(in thousand pesos)
Foreign Currency Deposits 94,470,701 16,099,981
Demand Deposit 969,147,894 854,700,768
Demand Deposit-Others 74,788,090 310,356,402
Savings Deposit 1,051,237,760 898,002,823
Time Certificates of Deposit 73,336,621 57,114,143
Total 2,262,981,066 2,136,274,118
68
Of the total Deposit Liabilities of P2.263 trillion, LBP reported the highest amount of
P1.642 trillion or 72.56 percent which consists of Demand Deposit of P798.04 billion,
Savings Deposit of P770.73 billion, and Time Certificates of Deposit of P73.34 billion.
Foreign Currency Deposits and Demand Deposit-Others were reported solely by BSP.
28. INTER-AGENCY PAYABLES (CURRENT)
2017
2018
(in thousand pesos)
Inter-Agency Payables 410,934,488 391,878,581
Due to BSP/Other Banks/Others 184,291,891 175,434,214
Total 595,226,379 567,312,795
Of the total Inter-Agency Payables of P595.23 billion, BSP shared P185.62 billion or
31.18 percent.
28.1. Inter-Agency Payables
2017
2018
(in thousand pesos)
Due to BIR 10,092,793 8,490,040
Due to GSIS 837,131 714,058
Due to Pag-IBIG 118,279 107,671
Due to PhilHealth 75,196 62,781
Due to NGAs 35,474,608 25,303,801
Due to Government Corporations 2,833,087 3,096,160
Due to LGUs 1,343,742 1,277,391
Due to Subsidiaries/Joint Venture/Associates/Affiliates 102,944,493 107,993,110
Due to Treasurer of the Philippines 250,786,839 240,184,348
Due to Parent Corporations 1,462,302 1,433,637
Due to SSS 36,836 36,567
Value Added Tax Payable 475,586 459,431
Income Tax Payable 4,453,595 2,719,587
Total 410,934,488 391,878,581
Of the total Inter-Agency Payables of P410.93 billion, PSALM reported the

highest amount of P144.26 billion or 35.11 percent, which includes Due to
Government Corporations of P1.81 billion, Due to Subsidiaries/Joint
Venture/Associates/Affiliates of P101.93 billion, and Income Tax Payable of
P1.40 billion.
Of the Due to Treasurer of the Philippines of P250.79 billion, NIA reported

P65.39 billion or 26.07 percent representing cash advances granted by the BTr
for the payment of water delivery fees to CECWECI under the BOT scheme.
69
28.2. Due to BSP/Other Banks/Others
2017
2018
(in thousand pesos)
Due to Bangko Sentral ng Pilipinas 6,067 412,624
Interbank Loans Payable 7 -
Due to International Monetary Fund 122,738,736 114,950,616
Allocation of Special Drawing Rights 61,258,651 59,785,445
Others 288,430 285,529
Total 184,291,891 175,434,214
Of the Due to Bangko Sentral ng Pilipinas of P6.07 million, P5.35 million or

88.11 percent was reported by DBP. The Due to International Monetary Fund
and Allocation of Special Drawing Rights were reported solely by BSP.
29. INTRA-AGENCY PAYABLES (CURRENT)
2017
2018
(in thousand pesos)
Due to Operating Units 129,482,737 133,764,273
Due to Other Funds 3,622,265 3,842,621
Due to Central/Home/Head Office 154,860,855 148,439,110
Due to Regional/Branch Offices 16,706,987 19,431,557
Total 304,672,844 305,477,560
Of the total amount of Intra-agency payables of P304.67 billion, NFA’s P300.17 billion
shared 98.52 percent, which includes Due to Operating Units of P129.48 billion, Due to
Central/Home/Head Office of P154.58 billion, and Due to Regional/Branch Offices of
P16.15 billion.
30. TRUST LIABILITIES (CURRENT)
This group of accounts consists of:
2017
2018
(in thousand pesos)
Trust Liabilities 31,429,466 18,067,428
Bail Bonds Payable 135,890 134,694
Guaranty/Security Deposits Payable 10,944,807 10,078,737
Customers' Deposits Payable 36,534,542 25,267,049
Margin Deposits 12,264,093 14,984,224
Deposit from Prospective Investors 42 42
Total 91,308,842 68,532,174
70
Of the total Trust Liabilities of P91.31 billion, the Philippine International Trading
Center (PITC) reported the highest amount of P30.74 billion or 33.66 percent, which
includes P30.65 billion or 83.89 percent of Customers’ Deposits Payable.
NHA reported P11.30 billion or 35.97 percent of the Trust Liabilities of P31.43 billion,
and P4.20 billion or 38.42 percent of Guaranty/Security Deposits Payable of P10.94
billion. Margin Deposits was reported solely by LBP.
31. DEFERRED CREDITS/UNEARNED INCOME (CURRENT)
2017
2018
(in thousand pesos)
Deferred Credits 24,247,650 24,380,040
Unearned Revenue/Income 11,231,050 14,381,875
Total 35,478,699 38,761,915
Of the total Deferred Credits/Unearned Income of P35.48 billion, PSALM recognized

the highest amount of P13.28 billion or 37.44 percent.
31.1. Deferred Credits
The total Deferred Credits is broken down as follows:
2017
2018
(in thousand pesos)
Deferred Finance Lease Revenue 2,609,144 2,610,421
Deferred Service Concession Revenue 6,413,743 6,413,359
Output Tax 11,535,692 11,721,103
Other Deferred Credits 3,689,070 3,635,158
Total 24,247,650 24,380,040
Of the Deferred Credits of P24.25 billion, PSALM reported a total of P10.58

billion or 43.59 percent which includes of P2.60 billion or 99.67 percent of
Deferred Finance Lease Revenue and P7.97 billion or 69.09 percent of Output
Tax. Of the Deferred Service Concession Revenue, TransCo reportedP6.32
billion or 98.49 percent.
71
31.2. Unearned Revenue/Income
The composition of Unearned Revenue/Income is as follows:
2017
2018
(in thousand pesos)
Unearned Revenue/Income-Investment Property 70,860 126,992
Reserve for Unearned Premiums 3,347,586 2,214,754
Other Unearned Revenue/Income 7,812,605 12,040,128
Total 11,231,050 14,381,875
Of the Unearned Revenue/Income of P11.23 billion, PSALM reported P2.71

billion or 24.16 percent which represents 34.74 percent of Other Unearned
Revenue/Income.
32. PROVISIONS (CURRENT)
2017
2018
(in thousand pesos)
Pension Benefits Payable 5,170 5,607
Leave Benefits Payable 2,355,593 1,697,079
Retirement Gratuity Payable 201,656 175,527
Provision for Product Warranty 20 -
Other Provisions 9,807,888 9,594,286
Total 12,370,327 11,472,499
The HDMF shared the highest Leave Benefits Payable at P707.21 million or 30.02
percent.
Of the Other Provisions, PSALM substantially shared P8.40 billion or 85.69 percent.
This provision was recognized by PSALM in 2017 to reflect the Supreme Court’s
Resolution dated November 21, 2017 under G.R. No. 156208 filed by the NPC Drivers
and Mechanics Association.
33. OTHER PAYABLES (CURRENT)
2017
2018
(in thousand pesos)
Treasurer/Cashier/Manager's Check 2,056,613 1,756,151
Payment Order Payable 66,497 57,674
Undistributed Collections 3,609,072 3,915,876
Unclaimed Balances 17,246 13,455
Liability for Letters of Credit 12,536,879 14,064,452
72
2017
2018
(in thousand pesos)
Outstanding Acceptances Executed by or for
Account of the Bank 168,634 107,943
Dividends Payable 27,361,735 12,920,413
Servicing Liabilities 29 31
Insured Deposit Claims Payable 171,532 181,300
Return Premiums Payable 196,480 260,860
No Claim Bonus Payable 6,074 4,070
Other Payables 42,213,848 45,408,194
Total 88,404,641 78,690,419
Of the Liability for Letters of Credit, LBP shared P6.30 billion or 50.24 percent, while
Dividends Payable was significantly reported by PAGCOR at P16.17 billion or 59.10
percent. Of the Other Payables, PSALM shared P10.95 billion representing 25.93
percent.
34. FINANCIAL LIABILITIES (NON-CURRENT)
2017
2018
(in thousand pesos)
Payables 243,106,524 263,531,903
Bills/Bonds/Loans Payable 501,315,227 556,960,380
Other Financial Liabilities 182,929 215,437
Total 744,604,680 820,707,721
Of the total Financial Liabilities of P744.60 billion, PSALM shared P379.04 billion or
50.91 percent.
34.1. Payables
The total Payables consists of the following:
2017
2018
(in thousand pesos)
Notes Payable 68,207,977 64,377,581
Operating Lease Payable 45,391 37,179
Finance Lease Payable 205,515 237,272
Service Concession Arrangements Payable 174,647,642 198,879,871
Total 243,106,524 263,531,903
Of the total Notes Payable of P68.21 billion, PDIC reported substantial amount
of P68.06 billion or 99.78 percent. The Service Concession Arrangements
Payable of P174.65 billion was reported solely by PSALM representing payable
to the IPP proponent for Capital Recovery Fees of the BOT power plants during
the cooperation period indicated in the BOT contracts, and fixed cost payable to
BOT plants under IPP Administration Agreement.
73
34.2. Bills/Bonds/Loans Payable
The sub-group Bills/Bonds/Loans Payable accounts consist of the following:
2017
2018
(in thousand pesos)
Bonds Payable-Domestic 42,046,202 48,975,729
Discount on Bonds Payable-Domestic (91,729) (87,982)
Bond Issue Cost-Domestic (78,423) (82,987)
Net Value-Bonds Payable-Domestic 41,876,050 48,804,761
Bonds Payable-Foreign 132,053,337 173,629,605
Discount on Bonds Payable-Foreign (635,014) (626,955)
Premium on Bonds Payable-Foreign 2,164 2,394
Bond Issue Cost-Foreign (303,739) (301,227)
Net Value-Bonds Payable-Foreign 131,116,748 172,703,818
Loans Payable-Domestic 177,882,952 176,249,307
Loans Payable-Foreign 65,598,278 67,244,818
Term Loan Facility - 10,243
Other Bills/Bonds/Loans Payable 84,841,198 91,947,434
Total 501,315,227 556,960,380
Of the aggregate amount of Bills/Bonds/Loans Payable of P501.32 billion,

PSALM shared P204.40 billion or 40.77 percent. BSP reported P26.19 billion or
62.54 percent of the net Bonds Payable-Domestic. PSALM shared P115.37
billion or 87.99 percent of the net Bonds Payable-Foreign, and P73.20 billion or
41.15 percent of the total Loans Payable-Domestic. BCDA reported P19.92
billion or 30.37 percent of Loans Payable-Foreign, while DBP reported P53.94
billion or 63.58 percent of the total Other Bills/Bonds/Loans Payable.
Of the Other Financial Liabilities of P182.93 million, P136.00 million or 74.35

percent was reported by TIDCORP representing its liability, including the
provision for default guarantees, under the financial guarantee contracts issued
by the Corporation.
35. CURRENCY ISSUED (NON-CURRENT)
The Currency Issued of P1.490 trillion, reported solely by BSP, represents claim on the
BSP for notes and coins issued for circulation, fully guaranteed by the ROP
government, in favor of the holder. Currency in circulation was recognized at face
value. In accordance with Section 51 of R.A. 7653, the New Central Bank Act, notes
and coins issued by the BSP shall be liabilities of the BSP and may be issued only
against, and in amounts not exceeding, the assets of the BSP. Said notes and coins shall
be a first and paramount lien on all assets of the BSP. The BSP’s holdings of its own
notes and coins shall not be considered as part of its currency issue and, accordingly,
shall not form part of the assets or liabilities of the BSP.
74
36. DEPOSIT LIABILITIES (NON-CURRENT)
This group of accounts represents local and foreign currency deposits of the clients of
government banks and consists of the following:
2017
2018
(in thousand pesos)
International Financial Institutions 91,788 99,822
Demand Deposit-Reserves 1,845,106,163 1,868,885,238
Demand Deposit 603,775 669,206
Demand Deposit-Others 29,743,889 29,748,382
Savings Deposit 8,198,409 7,470,023
Fixed-term Deposit 73,780,000 103,945,000
Time Certificates of Deposit 87,272,844 102,781,820
Long-term Negotiable Certificates of Deposit 11,000,000 11,000,000
Total 2,055,796,868 2,124,599,492
Of the Deposit Liabilities of P2.056 trillion, BSP reported solely the balances of
International Financial Institution, Demand Deposit-Reserves, Demand Deposit-Others,
and Fixed-term Deposit.
The OFBI substantially shared P330.58 million or 54.75 percent of the total Demand
Deposit and P7.95 billion or 96.94 percent of the total Savings Deposit. DBP shared
P84.13 billion or 96.40 percent of the total Time Certificates of Deposit. The Long-
Term Negotiable Certificates of Deposit was reported solely by LBP.
37. INTER-AGENCY PAYABLES (NON-CURRENT)
This group of accounts consists of:
2017
2018
(in thousand pesos)
Due to NGAs 20,349,068 24,993,388
Due to Government Corporations 8,718,725 7,465,531
Due to LGUs 5,893 5,972
Due to Subsidiaries/Joint Venture/Associates/Affiliates 223,402 217,359
Due to Parent Corporations 320,799 319,133
Total 29,617,887 33,001,382
NORTHRAIL reported P12.52 billion or 61.55 percent of Due to NGAs and P250.04
million or 77.94 percent of Due to Parent Corporations. TransCo shared P4.90 billion or
56.17 percent of Due to Government Corporations. WDs reported solely the balance of
Due to LGUs. PEA Tollway Corporation shared P204.06 million or 91.34 percent of
Due to Subsidiaries/Joint Ventures/Associate/Affiliates.
75
38. INTRA-AGENCY PAYABLES (NON-CURRENT)
2017
2018
(in thousand pesos)
Due to Other Funds - 2,216
Due to Central/Home/Head Office 18,437 18,437
Total 18,437 20,653
PPMC reported solely the account Due to Central/ Home/Head Office.
39. TRUST LIABILITIES (NON-CURRENT)
This sub-group of accounts consists of the following:
2017
2018
(in thousand pesos)
Trust Liabilities-Disaster Risk Reduction and
Management Fund 1 1
Bail Bonds Payable 74,310 58,745
Guaranty/Security Deposits Payable 8,627,346 7,258,633
Customers' Deposits Payable 2,764,804 2,534,051
Total 57,983,702 51,638,834
Of the total Trust Liabilities of P46.52 billion, the Social Housing Finance Corporation
(SHFC) shared P18.24 billion or 39.21 percent, consisting of trust liabilities to: National
Home Mortgage Finance Corporation – P14.33 billion; Department of Transportation
(DOTr) – P3.00 billion, representing the first tranche payment to SHFC on February 20,
2018 to finance the resettlement program for the Philippine National Railways South
Commuter Projects under the trust agreement between DOTr and SHFC; Abot-Kaya
Pabahay Fund – P549.87 million; and other trust liabilities – P360.36 million.
The Clark International Airport Corporation shared P48.94 million or 65.85 percent of
the total Bail Bonds Payable. PCSO reported P4.05 billion or 46.91 percent of the total
Guaranty/Security Deposits Payable, while Clark Development Corporation shared
P884.79 million or 32.00 percent of the total Customer’s Deposit Payable.
76
40. DEFERRED CREDITS/UNEARNED INCOME (NON-CURRENT)
2017
2018
(in thousand pesos)
Deferred Credits 244,922,837 252,818,871
Unearned Revenue/Income 36,912,355 43,756,159
Total 281,835,192 296,575,030
Of the total Deferred Credits/Unearned Income, TransCo reported P145.50 billion or

51.63 percent.
40.1. Deferred Credits
The total Deferred Credits consists of the following:
2017
2018
(in thousand pesos)
Deferred Finance Lease Revenue 8,746,763 11,323,474
Deferred Service Concession Revenue 159,208,958 154,031,670
Output Tax 315,438 353,667
Other Deferred Credits 76,651,679 87,110,060
Total 244,922,837 252,818,871
PSALM shared P8.43 billion or 96.43 percent of the total Deferred Finance
Lease Revenue. TransCo reported P143.58 billion or 90.18 percent of the total
Deferred Service Concession Revenue. NIA shared P24.28 billion or 31.67
percent of the Other Deferred Credits.
40.2. Unearned Revenue/Income
The Unearned Revenue/Income consists of the following:
2017
2018
(in thousand pesos)
Unearned Revenue/Income-Investment Property 632,175 472,520
Unearned Tax Subsidy 2,693,808 2,831,365
Other Unearned Revenue/Income 33,586,371 40,452,275
Total 36,912,355 43,756,159
WDs shared P372.28 million or 58.89 percent of the total Unearned

Revenue/Income-Investment Property. BCDA reported solely the Unearned Tax
Subsidy. PSALM shared P17.64 billion or 52.52 percent of the total Other
Unearned Revenue/Income.
77
41. PROVISIONS (NON-CURRENT)

2017
2018
(in thousand pesos)
Pension Benefits Payable 81,335 77,674
Leave Benefits Payable 2,996,718 3,202,824
Retirement Gratuity Payable 5,141,505 5,187,279
Other Provisions 27,616,136 26,151,083
Total 35,835,693 34,618,860
Of the total Pension Benefits Payable, PNOC reported P26.94 million or 33.12 percent.
NPC shared P577.84 million or 19.28 percent of the total Leave Benefits Payable. BSP
reported P2.96 billion or 57.61 percent of the total Retirement Gratuity Payable. PHIC
recognized P26.03 billion or 94.27 percent of the total Other Provisions pertaining to a
separate fund for the benefit claims reserve of the existing lifetime members as
stipulated in Section 17 of R.A. No. 10606 (or Section 27 of RA No. 7875).
42. DEFERRED TAX LIABILITIES (NON-CURRENT)
The Deferred Tax Liabilities totaled P13.49 billion with an increase of P897.27 million
or 7.12 percent from restated CY 2017 balance of P12.60 billion. Five GCs contributed
a total of P12.55 billion or 93.02 percent for CY 2018, as follows:
Amount Percent to
Philippine National Construction Corporation 4,595,208 34.05
National Development Corporation 3,784,710 28.05
Philippine National Oil Corporation 2,754,433 20.41
Home Guaranty Corporation 722,406 5.35
PNOC-Alternative Fuels Corporation 695,544 5.15
Sub-total 12,552,302 93.02
Other GCs 941,270 6.98
Total 13,493,572 100.00
The amount reported by the PNCC pertained to the deemed tax on the increase in value
of investment property, and property and equipment as required by PAS 12-Income
Taxes.
43. OTHER PAYABLES (NON-CURRENT)
2017
2018
(in thousand pesos)
Undistributed Collections 13,406 12,579
Unclaimed Balances 343,887 130,293
Dividends Payable 1,002,214 965,521
Other Payables 552,185,284 403,497,686
Total 553,544,790 404,606,080
78
The LBP reported P298.10 million or 86.69 percent of the total Unclaimed Balances.
The Philippine Reclamation Authority shared P489.09 million or 48.80 percent of the
total Dividends Payable. BSP reported P534.98 billion or 96.88 percent of the Other
Payables of P552.19 billion.
44. EQUITY
Equity is broken down as follows:
2017
2018
(in thousand pesos)
Accumulated Surplus/(Deficit) 443,670,593 422,020,245
Contributed Capital 94,859,410 94,384,456
Retained Earnings/(Deficit) 2,449,943,155 2,228,039,383
Stockholders' Equity 284,962,357 276,850,346
Share Capital 276,328,345 268,330,477
Share Premium 1,255,832 1,255,832
Subscribed Share Capital 412,738 421,071
Subscriptions Receivable (15,000) (20,833)
Treasury Shares (17,435) (17,435)
Other Equity Instruments 6,997,877 6,881,234
Cumulative Translation Adjustment 255,428 (1,220)
Cumulative Changes in Fair Value (32,889,097) 31,519,847
Members’ Equity 409,709,776 362,210,007
Total 3,878,779,791 3,656,922,781
The account Accumulated Surplus/(Deficit) was used to recognize the cumulative

results of normal and continuous operations of GCs classified as non-GBEs in which
NIA reported the highest Surplus in the amount of P252.07 billion or 56.81 percent
consisting of: a) the capital invested by the NG for various irrigation systems or projects
implemented and maintained by NIA, b) surplus/deficit from its operations, and c)
inactive accounts and off-book adjustment. TransCo and NHA reported P149.40 billion
or 33.67 percent and P105.01 billion or 23.67 percent, respectively. The net
Accumulated Surplus of P443.67 billion was the difference between Accumulated
Surplus of P652.34 billion reported by 33 GCs and the Accumulated Deficit of P208.67
billion incurred by 9 GCs including the deficit of NFA amounting to P153.36 billion.
Government Equity represents the amount paid by the NG whether in cash or in kind as
approved under the GCs’ charters. The net Government Equity of P42.76 billion was
the difference between the Government Equity of P150.90 billion reported by 47 GCs
and deficit of P108.14 billion reported by PSALM representing adjustments of capital
from asset-debt transfer. CAAP, LRTA, Veterans Federation of the Philippines, and
MIAA recognized the biggest amounts of P50.00 billion or 33.14 percent, P21.62
billion or 14.33 percent, P10.16 billion or 6.73 percent, and 10.00 billion or 6.63
percent, respectively.
79
Contributed Capital was used to recognize the capital contributed by the government to
the entity, of which CAAP and SBMA recognized the largest amounts of P25.98 billion
or 27.39 percent and P20.04 billion or 21.13 percent, respectively.
Revaluation Surplus totalling P185.51 billion represents the cumulative amounts of

appraisal increments of fixed assets, of which PPA and MCIAA reported P78.78 billion
or 42.46 percent and P51.78 billion or 27.91 percent, respectively.
Retained Earnings is the cumulative results of normal and continuous operations of GCs
classified as GBEs including prior period adjustments, effects of changes in accounting
policy, and other capital adjustments. For CY 2018, GSIS had the highest Retained
Earnings of P1.137 trillion or 46.39 percent, followed by SSS with P522.80 billion or
21.34 percent.
Of the total Stockholder’s Equity of P284.96 billion, Share Capital was the largest
component at P276.33 billion or 96.97 percent, of which BCDA reported the highest
amount of P100.00 billion or 36.19 percent, followed by BSP at P50.00 billion or 18.09
percent.
LBP reported P231.76 million or 90.73 percent of the total Cumulative Translation
Adjustment.
The negative balance of the Cumulative Changes in Fair Value of P32.89 billion was
the difference between the total positive balances of P54.41 billion reported by 10 GCs
and total negative balances of P87.30 billion reported by 13 GCs. The positive balances
were reported mostly by PNR and LBP in the amounts of P40.37 billion and P11.91
billion, respectively. The negative balances were reported mostly by the GSIS, SSS and
HDMF of P39.73 billion, P30.43 billion, and P12.40 billion, respectively.
The total Members’ Equity of P409.71 billion was composed of P408.84 billion or
99.79 percent representing HDMF’s equity of the members as owners of Pag-IBIG
Fund corresponding to members’ contributions, employers’ counterpart for employed
members and accumulated dividends, and P873.41 million or 0.21 percent reported by
SSS.
45. TAX REVENUE
The Tax Revenue of P3.18 billion was recognized solely in the books of accounts of
TIEZA which represents the travel taxes collected, net of shares remitted for the
Commission on Higher Education of P2.55 billion and National Commission for
Culture and the Arts of P636.37 million pursuant to Section 72 of R.A. 9593.
80
46. SERVICE AND BUSINESS INCOME
2017
2018
(in thousand pesos)
Service Income 26,120,968 23,709,122
Permit Fees 994,271 797,074
Registration Fees 253,016 295,994
Registration Plates, Tags and Stickers Fees 429,471 375,477
Clearance and Certification Fees 2,063,966 265,443
Franchising Fees 12,009 20,278
Licensing Fees 261,682 235,382
Supervision and Regulation Enforcement Fees 453,753 356,590
Legal Fees 206 205
Inspection Fees 56,139 43,472
Verification and Authentication Fees 4 5
Passport, Visa and Application Fees 295,182 257,657
Processing Fees 3,688,354 2,681,789
Fines and Penalties-Service Income 1,654,525 1,759,043
Mail Services Revenue 2,977,401 2,784,298
Discounts on Mailing Services (12,859) (21,524)
Net Mail Services 2,964,543 2,762,774
Postal Payment Service Revenue 600,148 646,741
Fees and Commissions Income 9,271,941 9,431,006
Consultancy Fees 272,867 280,609
Participation Fees 77,779 61,808
Research Fees 14,675 8,772
Accreditation Fees 47,855 41,082
Harmonization Fees 3,552 3,880
Sewerage/Garbage Fees 97,271 139,372
Transshipment Fees 7,931 21,271
Other Service Income 2,599,831 3,223,398
Business Income 1,076,246,481 937,630,561
School Fees 400 2,000
Seminar/Training Fees 40,098 35,992
Rent/Lease Income 16,531,294 15,830,446
Communication Network Fees 27,536 25,555
Transportation System Fees 8,797,355 8,457,677
Road Network Fees 449,187 323,544
Waterworks System Fees 25,487,206 25,318,463
Power Supply System Fees 36,900,618 29,966,684
Seaport System Fees 19,137,835 16,970,791
Landing and Parking Fees 6,489,264 5,989,992
Income from Hostels/Dormitories and Other Like
Facilities 152,842 160,505
Income from Printing and Publication 56,504 61,073
Sales Revenue 35,964,665 28,118,595
Sales Discounts (846,237) (187,578)
Net Sales 35,118,427 27,931,017
Hospital Fees 9,772,607 8,853,240
Hospital Discounts, Allowances and Free Services (2,422,922) (1,818,913)
Net Hospital Fees 7,349,685 7,034,326
Guarantee Income 1,670,831 1,350,615
Fidelity Insurance Income - 3,979
81
2017
2018
(in thousand pesos)
Dividend Income 17,004,720 14,011,885
Interest Income 301,701,635 254,066,587
Share in the Profit/Revenue of Joint Venture 3,418,293 1,321,768
Fines and Penalties-Business Income 6,170,640 6,149,810
Service Concession Revenue 10,853,643 10,479,878
Insurance/Reinsurance Premium 6,983,139 6,102,579
Insurance/Reinsurance Premium Discount (28,659) (872)
Returns and Cancellations of Insurance/
Reinsurance Premiums (4) (227)
Insurance/Reinsurance Premium Reserves (588,483) (434,644)
Net Insurance/Reinsurance Premium 6,365,992 5,666,836
Income from Acquired/Foreclosed Assets 3,369,075 9,365,026
Members' Contribution 369,972,056 318,291,521
Share in the Profit/Revenue of Associates/Affiliates 172,689 364,815
Demurrage Revenue 297,699 246,628
Income from Gaming Operations 130,590,210 110,318,027
Royalty Fees 203,128 101,256
Assessment Income 23,594,390 20,991,903
Management Fees 781,737 586,758
Visitorial Fees 21,404 20,071
Admission Fees 12,271 13,649
Annual PRA Fees 311,903 218,776
Income from Communication Facilities 6,023,925 5,699,452
Other Business Income 37,171,987 40,253,256
Total 1,102,367,449 961,339,684
Of the total Service and Business Income of P1.102 trillion, P1.076 trillion or 97.63
percent represents Business Income, while P26.12 billion or 2.37 percent represents
Service Income.
46.1. Service Income
The three highest sources of Service Income were: a) Fees and Commissions
Income of P9.27 billion or 35.50 percent, of which BSP reported P5.56 billion
or 59.98 percent; b) Processing Fees of P3.69 billion or 14.12 percent, of which
PAGCOR reported P1.45 billion or 39.22 percent; and c) Net Mail Services of
P2.96 billion or 11.35 percent, which was reported entirely by Philippine Postal
Corporation (PPC).
46.2. Business Income
The highest source of business income was Members’ Contribution of P369.98

billion or 34.38 percent, of which P369.97 billion or almost 100 percent were
recognized in the books of accounts of SSS, GSIS and PHIC of P180.34 billion,
P115.08 billion and P74.54 billion, respectively. This was followed by Interest
Income of P301.70 billion or 28.03 percent, of which P78.15 billion or 25.90
percent was earned by BSP from its foreign and local currency financial assets.
The third highest Business Income was Income from Gaming Operations of
P130.59 billion, of which PAGCOR shared P67.85 billion or 51.96 percent
82
representing income from electronic gaming machines of P24.79 billion;
licensed casinos of P24.12 billion; table games of P11.79 billion; offshore
gaming of P6.11 billion; and in-house bingo of P1.05 billion.
47. SHARES, GRANTS AND DONATIONS
2017
2018
(in thousand pesos)
Shares 30,001,867 19,765,522
Share in Universal Charge 30,001,867 19,765,522
Grants and Donations 776,350 415,419
Income from Grants and Donations in Cash 528,489 65,581
Income from Grants and Donations in Kind 247,861 349,839
Total 30,778,217 20,180,941
Share in Universal Charge of P30.00 billion represents 97.48 percent of the total Shares,
Grants and Donations. This account is used to recognize the share of PSALM and NPC
on the Universal Charge being collected by distribution utilities from all power
customers. PSALM and NPC reported P16.41 billion or 54.70 percent and P13.59
48. GAINS
Gains amounting to P305.51 billion consist of the following:
2017
2018
(in thousand pesos)
Gain on Foreign Exchange (FOREX) 138,693,324 24,274,393
Gain on Sale/Redemption/Transfer of investments 5,050,870 9,088,884
Gain on Sale of Investment Property 56,759,896 4,753,803
Gain on Sale of Property, Plant and Equipment 2,769,563 3,885,779
Gain on Sale of Biological Assets 354 1,398
Gain from Changes in Fair Value Less Cost to Sell of
Biological Assets Due to Price Change - 1
Gain on Sale of Agricultural Produce 463 998
Gain from Changes in Fair Value of Financial Instruments 56,342,047 99,540,812
Gain from Changes in Fair Value of Investment Property 41,494,794 22,851,335
Other Gains 4,403,041 1,287,133
Total 305,514,352 165,684,538
The three accounts with highest amounts of Gains were: Gain from Foreign Exchange
(FOREX) of P138.69 billion or 45.40 percent, Gain on Sale of Investment Property of
P56.76 billion or 18.58 percent, and Gain from Changes in Fair Value of Financial
Instruments of P56.34 billion or 18.44 percent.
83
GSIS reported P72.52 billion or 52.29 percent of the total Gain from FOREX, while
PAGCOR reported P32.72 billion or 57.64 percent of the total Gain on Sale of
Investment Property.
GSIS reported P53.25 billion or 94.52 percent of the total Gain from Changes in Fair
Value of Financial Instruments.
49. OTHER NON-OPERATING INCOME
2017
2018
(in thousand pesos)
Sale of Assets 34,125 28,588
Sale of Garnished/Confiscated/Abandoned/Seized
Goods and Property 6,861 18,333
Sale of Unserviceable Property 27,264 10,255
Reversal of Impairment Loss 9,976,192 4,602,586
Miscellaneous Income 11,218,102 23,515,749
Proceeds from Insurance/Indemnities 21,455 7,749
Miscellaneous Income 11,196,647 23,508,000
Total 21,228,419 28,146,923
Of the total Miscellaneous Income of P11.20 billion, the top five GCs which reported
substantial amounts were: HDMF – P2.35 billion or 20.99 percent, BSP – P2.01 billion
or 17.91 percent, LBP – P1.74 billion or 15.56 percent, BCDA – P1.26 billion or 11.22
percent, and NPC – P1.15 billion or 10.26 percent.
Of the total Reversal of Impairment Loss, GSIS and HDMF reported P6.14 billion or
61.57 percent and P2.79 billion or 28.00 percent, respectively.
50. PERSONNEL SERVICES
The total Personnel Services (PS) of P97.04 billion is composed of the following:
2017
2018
(in thousand pesos)
Salaries and Wages 55,887,739 50,172,342
Other Compensation 20,586,980 20,282,338
Personnel Benefit Contributions 13,426,808 12,293,827
Other Personnel Benefits 7,140,039 6,755,565
Total 97,041,567 89,504,073
The five GCs that incurred the biggest PS were: BSP – P13.99 billion or 14.42 percent;
LBP – P13.37 billion or 13.77 percent; WDs – P8.75 billion or 9.02 percent;
PAGCOR – P7.90 billion or 8.14 percent; and SSS – P6.53 billion or 6.73 percent.
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50.1. Salaries and Wages
The comparative details of Salaries and Wages are as follows:
2017
2018
(in thousand pesos)
Salaries and Wages-Regular 53,090,740 47,708,815
Salaries and Wages-Casual/Contractual 2,797,000 2,463,527
Total 55,887,739 50,172,342
The total Salaries and Wages of P55.89 billion represents 57.59 percent of the
total PS. Of the total Salaries and Wages-Regular of P53.09 billion, LBP and
BSP incurred P13.37 billion or 25.18 percent and P10.46 billion or 19.70
percent, respectively.
50.2. Other Compensation
This sub-major account consists of the following:
2017
2018
(in thousand pesos)
Personnel Economic Relief Allowance (PERA) 2,024,593 1,939,635
Representation Allowance (RA) 745,767 713,070
Transportation Allowance (TA) 574,695 531,239
Clothing/Uniform Allowance 452,712 403,740
Subsistence Allowance 221,270 228,741
Laundry Allowance 20,929 19,783
Quarters Allowance 11,947 13,262
Productivity Incentive Allowance 321,723 437,852
Overseas Allowance 59,199 57,341
Honoraria 163,451 166,753
Hazard Pay 790,600 756,542
Longevity Pay 234,189 248,357
Overtime and Night Pay 1,430,476 1,209,395
Year End Bonus 3,646,792 3,333,992
Cash Gift 759,080 629,527
Other Bonuses and Allowances 9,129,559 9,593,107
Total 20,586,980 20,282,338
Of the Other Compensation of P20.59 billion, P9.13 billion or 44.35 percent

was mostly spent for Other Bonuses and Allowances. The five GCs that
reported the highest amounts of this account were: PAGCOR – P1.47 billion or
16.12 percent, GSIS – P1.08 billion or 11.81 percent, HDMF – P1.07 billion or
11.69 percent, SSS – P987.78 million or 10.82 percent, and WDs – P745.85
million or 8.17 percent.
85
50.3. Personnel Benefit Contributions
The comparative details of this sub-major account are as follows:
2017
2018
(in thousand pesos)
Retirement and Life Insurance Premiums 4,116,468 3,702,255
Pag-IBIG Contributions 119,359 116,321
PhilHealth Contributions 352,346 278,398
Employees Compensation Insurance Premiums 105,447 99,123
Provident/Welfare Fund Contributions 8,733,189 8,097,730
Total 13,426,808 12,293,827
Of the total Retirement and Life Insurance Premiums, WDs and BSP reported
P527.56 million or 12.82 percent and P508.78 million or 12.36 percent,
respectively.
Of the total Provident/Welfare Fund Contributions, PAGCOR, BSP and SSS

reported P2.31 billion or 26.49 percent, P2.25 billion or 25.78 percent, and
P1.15 billion or 13.17 percent, respectively.
50.4. Other Personnel Benefits
The breakdown of this sub-major account follows:
2017
2018
(in thousand pesos)
Pension Benefits 299,316 899,201
Retirement Gratuity 190,414 118,514
Terminal Leave Benefits 2,290,464 1,624,737
Other Personnel Benefits 4,359,846 4,113,113
Total 7,140,039 6,755,565
NIA reported P428.41 million or 18.70 percent of total Terminal Leave

Benefits. Of Other Personnel Benefits of P4.36 billion, P1.85 billion or 42.53
percent was reported by PAGCOR, which pertains to Interaction Expenses of
fifty pesos monthly provision for each employee of Casino Branches, Satellite
Operations Groups and Corporate Office for their social, interaction and other
activities.
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51. MAINTENANCE AND OTHER OPERATING EXPENSES
Maintenance and Other Operating Expenses consist of the following:
2017
2018
(in thousand pesos)
Traveling Expenses 1,892,386 1,776,329
Training and Scholarship Expenses 1,155,793 1,017,643
Supplies and Materials Expenses 33,247,485 31,567,122
Utility Expenses 9,672,735 9,159,660
Communication Expenses 1,594,692 1,617,469
Awards/Rewards, Prizes and Indemnities 26,309,322 22,968,511
Survey, Research, Exploration and Development Expenses 171,239 110,333
Demolition/Relocation and Desilting/ Drilling/
Dredging Expenses 606,693 275,892
Generation, Transmission and Distribution Expenses 31,514,137 24,216,156
Confidential, Intelligence and Extraordinary Expenses 682,210 489,996
Professional Services 5,837,764 4,741,184
General Services 8,692,818 7,726,328
Repairs and Maintenance 7,494,968 7,127,476
Taxes, Insurance Premiums and Other Fees 22,065,670 18,664,912
Labor and Wages 1,673,546 1,104,100
Members' Benefits 405,728,562 370,558,462
Receivership and Liquidation Expenses 258,228 253,763
Other Maintenance and Operating Expenses 72,082,237 66,302,468
Total 630,680,486 569,677,805
The significant amounts incurred in this group of accounts were in Members’ Benefits
of P405.73 billion or 64.33 percent; Other Maintenance and Operating Expenses of
P72.08 billion or 11.43 percent; Supplies and Materials Expenses of P33.25 billion or
5.27 percent; and Generation, Transmission and Distribution Expenses of P31.51 billion
or 5.00 percent.
51.1. Traveling Expenses
The details of traveling expenses are as follows:
2017
2018
(in thousand pesos)
Traveling Expenses-Local 1,747,579 1,628,298
Traveling Expenses-Foreign 144,806 148,031
Total 1,892,386 1,776,329
Of the total Traveling Expenses-Local, BSP reported P403.38 million or 23.08

percent.
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51.2. Training and Scholarship Expenses
The comparative details are shown below:
2017
2018
(in thousand pesos)
Training Expenses 1,136,653 1,007,616
Scholarship Grants/Expenses 19,140 10,027
Total 1,155,793 1,017,643
The amount of P166.03 million or 14.61 percent of Training Expenses was

reported by WDs to recognize the cost incurred for the participation/attendance
in and conduct of trainings, conventions and seminars/workshops.
51.3. Supplies and Materials Expenses
This sub-major account consists of the following:
2017
2018
(in thousand pesos)
Office Supplies Expenses 1,407,898 1,234,337
Accountable Forms Expenses 387,502 447,950
Non-Accountable Forms Expenses 2,649 2,911
Animal/Zoological Supplies Expenses 14,006 8,656
Food Supplies Expenses 185,549 188,674
Welfare Goods Expenses 65 20
Drugs and Medicines Expenses 1,072,932 1,166,262
Medical, Dental and Laboratory Supplies Expenses 1,974,872 1,709,419
Fuel, Oil and Lubricants Expenses 25,431,014 23,784,670
Agricultural and Marine Supplies Expenses 996,011 1,131,805
Textbooks and Instructional Materials Expenses 1,671 1,965
Military, Police and Traffic Supplies Expenses 10,582 10,933
Chemical and Filtering Supplies Expenses 250,085 242,516
Linens and Beddings Expenses 33,622 30,345
Semi-Expendable Machinery and Equipment
Expenses 131,356 120,590
Semi-Expendable Furniture, Fixtures and Books
Expenses 131,142 120,226
Other Supplies and Materials Expenses 1,216,528 1,365,842
Total 33,247,485 31,567,122
Of the total amount of Supplies and Materials Expenses, P25.43 billion or

76.49 percent pertained to Fuel, Oil and Lubricants Expenses, of which
PSALM reported P24.35 billion or 95.77 percent representing the natural gas
and diesel for the operations of plants under the IPP Administration
Agreement and fuel incurred in the operation of the Malaya Thermal Power
Plant.
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51.4. Utility Expenses
2017
2018
(in thousand pesos)
Water Expenses 649,920 686,920
Electricity Expenses 8,989,861 7,792,307
Gas/Heating Expenses 10,265 19,589
Other Utility Expenses 22,689 660,843
Total 9,672,735 9,159,660
Electricity Expenses constitutes 92.94 percent of total Utility Expenses, of

which P2.91 billion or 32.38 percent was reported by WDs.
51.5. Communication Expenses
The breakdown of Communication Expenses is as follows:
2017
2018
(in thousand pesos)
Postage and Courier Services 328,729 368,004
Telephone Expenses 766,442 733,714
Internet Subscription Expenses 369,222 393,764
Cable, Satellite, Telegraph and Radio Expenses 130,300 121,987
Total 1,594,692 1,617,469
Of the total Telephone Expenses, the BSP reported P307.55 million or 40.13
percent.
51.6. Awards/Rewards, Prizes and Indemnities
The comparative details of this group of accounts are as follows:
2017
2018
(in thousand pesos)
Awards/Rewards Expenses 243,920 117,505
Prizes 26,044,262 22,757,697
Indemnities 21,140 93,308
Total 26,309,322 22,968,511
Total Prizes of P26.04 billion was almost 100 percent reported by PCSO
representing amount paid for low tier prizes of P20.78 billion; jackpot prizes of
P3.82 billion; 5% prize fund tax of P1.42 billion; seller’s share in lotto of P21.45
million; and sweepstakes winning tickets of P1.47 million.
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51.7. Demolition/Relocation and Desilting/Drilling/Dredging Expenses
The details of this account consist of the following:
2017
2018
(in thousand pesos)
Demolition and Relocation Expenses 22,458 12,826
Desilting, Drilling and Dredging Expenses 584,235 263,066
Total 606,693 275,892
PPA reported P584.11 million or 99.98 percent of the total Desilting, Drilling
and Dredging Expenses. It represents cost incurred in dredging the harbors to
the required depth through removal of silts. It also includes expenses in the
maintenance of basins and navigational channels, cost of minor repairs of
dredging equipment, spare parts, salaries and wages of casual and contractual
employees, incidental traveling expenses and other related costs.
51.8. Generation, Transmission and Distribution Expenses
Of the total Generation, Transmission and Distribution Expenses of P31.51

billion, P28.22 billion or 89.55 percent was recognized by PSALM. It pertains
to the expenses associated with the generation of power of the remaining plants
which includes purchased power costs of P22.02 billion; energy purchased from
Philippine Electricity Market Corporation of P4.62 billion; other operating
expenses of P1.20 billion; operation and maintenance service contract of
P257.33 million; metering/transmission service of P110.63 million; and
expenses related to sold plants of P15.18 million.
51.9. Confidential, Intelligence and Extraordinary Expenses
2017
2018
(in thousand pesos)
Confidential Expenses 31,257 14,615
Intelligence Expenses 4,290 -
Extraordinary and Miscellaneous Expenses 646,663 475,381
Total 682,210 489,996
CAAP reported P10.71 million or 34.36 percent of Confidential Expenses and

100 percent of the Intelligence Expenses.
Of the total Extraordinary and Miscellaneous Expenses, DBP reported

Miscellaneous Expenses of P248.40 million or 38.41 percent.
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51.10. Professional Services
2017
2018
(in thousand pesos)
Legal Services 60,538 95,173
Auditing Services 1,240,324 1,022,733
Consultancy Services 1,230,007 666,426
Other Professional Services 3,306,895 2,956,852
Total 5,837,764 4,741,184
WDs reported P15.86 million or 26.20 percent of the total Legal Services; NIA
recognized P159.89 million or 12.89 percent of the Auditing Services;
PAGCOR shared P198.63 million or 16.15 percent of the total Consultancy
Services; and MIAA reported P723.40 million or 21.88 percent of the total
Other Professional Services.
51.11. General Services
The comparative details of General Services are as follows:
2017
2018
(in thousand pesos)
Environment/Sanitary Services 135,442 77,568
Janitorial Services 1,660,964 1,487,519
Security Services 4,134,309 3,652,560
Other General Services 2,762,104 2,508,681
Total 8,692,818 7,726,328
MIAA reported P291.59 million or 17.56 percent and P476.18 million or 11.52
percent for Janitorial Services and Security Services, respectively. On the other
hand, HDMF reported P1.16 billion or 42.16 percent of Other General Services.
51.12. Repairs and Maintenance
2017
2018
(in thousand pesos)
Repairs and Maintenance-Investment Property 10,355 3,075
Repairs and Maintenance-Land Improvements 254,828 294,090
Repairs and Maintenance-Infrastructure Assets 3,530,991 3,305,445
Repairs and Maintenance-Buildings and Other
Structures 649,983 632,098
Repairs and Maintenance-Machinery and Equipment 1,671,259 1,496,876
Repairs and Maintenance-Transportation Equipment 445,191 416,814
Repairs and Maintenance-Furniture and Fixtures 22,570 26,916
Repairs and Maintenance-Leased Assets 3,095 2,570
Repairs and Maintenance-Leased Assets
91
2017
2018
(in thousand pesos)
Improvements 50,428 52,304
Repairs and Maintenance-Service Concession Assets 2,878 3,527
Repairs and Maintenance-Exploration and
Evaluation Assets - 23
Repairs and Maintenance-Semi-Expendable
Machinery and Equipment 2,540 882
Repairs and Maintenance-Semi-Expendable Furniture,
Fixtures and Books 1,249 1,878
Repairs and Maintenance-Other Property, Plant and
Equipment 849,601 890,978
Total 7,494,968 7,127,476
Repairs and Maintenance expenses were mostly incurred for the Infrastructure
Assets at P3.53 billion or 47.11 percent, of which PPA reported P2.36 billion or
66.93 percent. Repairs and Maintenance-Machinery and Equipment of P1.67
billion represents 22.30 percent of the total Repairs and Maintenance expenses,
of which MIAA reported P510.91 million or 30.57 percent.
51.13. Taxes, Insurance Premiums and Other Fees
The comparative details of this group of accounts are shown below:
2017
2018
(in thousand pesos)
Taxes, Duties and Licenses 17,081,379 14,003,036
Fidelity Bond Premiums 79,094 73,909
Insurance Expenses 4,905,197 4,587,967
Total 22,065,670 18,664,912
Total Taxes, Insurance Premiums and Other Fees were largely made up of
Taxes, Duties and Licenses of P17.08 billion or 77.41 percent, of which BSP
reported P5.40 billion or 31.60 percent.
The LBP shared P3.19 billion or 64.94 percent of the total Insurance Expenses.
51.14. Members’ Benefits
This account is used to recognize amounts of benefits given to members and

their beneficiaries, including, hospitalization, medicines, injury, disability,
death, and pension and retirement benefits. Of the total Members’ Benefits of
P405.73 billion SSS, PHIC, and GSIS reported P180.08 billion or 44.38 percent,
P121.04 billion or 29.83 percent, and P104.42 billion or 25.74 percent,
respectively.
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51.15. Other Maintenance and Operating Expenses
The comparative details of this group of accounts consist of the following:
2017
2018
(in thousand pesos)
Advertising, Promotional and Marketing Expenses 2,655,288 2,347,995
Printing and Publication Expenses 449,935 500,346
Representation Expenses 530,281 663,887
Transportation and Delivery Expenses 270,344 446,795
Rent/Lease Expenses 10,030,405 9,846,162
Membership Dues and Contributions to Organizations 76,529 71,146
Subscription Expenses 92,552 77,489
Donations 156,065 466,861
Litigation/Acquired Assets Expenses 1,797,766 1,844,414
International Mail Exchange Expenses 624,042 328,015
Directors and Committee Members' Fees 242,344 225,547
Lottery Draws Expenses 495,342 230,063
Documentary Stamps Expenses 10,085,828 5,599,941
Fees and Commission Expenses 6,910,777 5,711,080
Underwriting Expenses 2,557,440 2,820,890
Major Events and Conventions Expenses 123,701 96,702
Crop/Non-Crop Insurance Benefits 804,040 628,748
Deposit Claims Pay-out Expenses 1,719,054 1,157,404
Other Maintenance and Operating Expenses 32,460,504 33,238,984
Total 72,082,237 66,302,468
Of the total Other Maintenance and Operating Expenses of P72.08 billion,

PCSO reported P21.48 billion or 29.80 percent composed mostly of:
Documentary Stamp Expenses of P9.44 billion or 93.62 percent; Rent/Lease
Expenses of P3.51 billion or 34.94 percent; Fees and Commission Expenses of
P4.86 billion or 70.36 percent and Lottery Draws Expenses of P495.34 million
or 100.00 percent.
52. FINANCIAL EXPENSES
2017
2018
(in thousand pesos)
Management Supervision/Trusteeship Fees 463,430 453,466
Interest Expenses 86,720,403 85,110,285
Guarantee Fees 3,404,292 3,886,554
Bank Charges 35,985 41,992
Commitment Fees 1,091 346
Other Financial Charges 2,140,118 2,036,903
Total 92,765,319 91,529,547
93
Of the total Financial Expenses, P86.72 billion or 93.48 percent pertained to Interest
Expenses, of which BSP reported P29.93 billion or 34.51 percent incurred on foreign
and local currency financial liabilities of P4.31 billion and P25.61 billion, respectively.
The other GCs that reported big amounts of Interest Expenses were: PSALM, LBP, and
DBP at P18.09 billion or 20.86 percent, P13.94 billion or 16.08 percent, and P8.82
53. DIRECT COSTS
Direct Costs of P34.99 billion pertains to Cost of Sales. The three GCs which reported
highest amounts were: NFA – P20.17 billion or 57.66 percent, NPC – P4.39 billion or
12.54 percent, and Philippine Crop Insurance Corporation – P3.48 billion or 9.95
percent.
54. NON-CASH EXPENSES
2017
2018
(in thousand pesos)
Depreciation 30,721,207 30,128,631
Amortization 1,203,182 837,280
Impairment Loss 36,235,527 16,172,641
Losses 234,027,145 116,583,508
Discount and Rebates 982,621 739,767
Total 303,169,682 164,461,827
54.1. Depreciation
The comparative details of Depreciation are as follows:
2017
2018
(in thousand pesos)
Depreciation-Investment Property 906,263 624,314
Depreciation-Land Improvements 971,811 1,871,768
Depreciation-Infrastructure Assets 8,754,122 8,173,491
Depreciation-Buildings and Other Structures 2,136,931 1,926,466
Depreciation-Machinery and Equipment 4,441,379 4,450,508
Depreciation-Transportation Equipment 821,041 800,335
Depreciation-Furniture, Fixtures and Books 900,164 893,037
Depreciation-Leased Assets 32,941 17,635
Depreciation-Leased Assets Improvements 241,240 215,831
Depreciation-Service Concession Assets 9,241,713 8,885,565
Depreciation-Other Property, Plant and Equipment 2,273,602 2,269,681
Total 30,721,207 30,128,631
The three highest components of Depreciation Expenses of P30.72 billion were

depreciation on: a) Service Concession Assets of P9.24 billion or 30.08 percent,
of which TransCo reported P4.63 billion or 50.06 percent; b) Infrastructure
94
Assets of P8.75 billion or 28.50 percent, of which PPA reported P1.81 billion or
20.73 percent; and c) Machinery and Equipment of P4.44 billion or 14.46
percent, of which WDs reported P545.96 million or 12.29 percent.
54.2. Impairment Loss
The comparative details of this group of accounts are shown below:

2017
2018
(in thousand pesos)
Impairment Loss - Financial Assets Held to Maturity 3,205 44,173
Impairment Loss - Loans and Receivables 34,732,740 13,608,842
Impairment Loss - Lease Receivables 269,814 3,890
Impairment Loss - Investments in Joint Venture 11 13
Impairment Loss - Other Receivables 468,723 267,544
Impairment Loss - Inventories 7,642 31,205
Impairment Loss - Investment Property 181,397 870,527
Impairment Loss - Property, Plant and Equipment 112,883 1,084,434
Impairment Loss - Biological Assets - 7
Impairment Loss - Intangible Assets 17,347 59
Impairment Loss - Investments in
Affiliates/Associates 9,938 -
Impairment Loss - Investment in Stocks - 10,000
Impairment Loss - Non-Current Assets Held for Sale 27,852 43,829
Impairment Loss - Other Investments 23,913 4,871
Impairment Loss - Other Assets 380,063 203,247
Total 36,235,527 16,172,641
GSIS reported P13.61 billion or 39.19 percent of total Impairment Loss-Loans

and Receivables, and P18.28 million or 76.47 percent of total Impairment Loss-
Other Investments.
54.3. Losses
2017
2018
(in thousand pesos)
Loss on Foreign Exchange (FOREX) 95,067,227 13,794,719
Loss on Sale/Redemption/Transfer of Investments 6,022,538 4,207,356
Loss on Sale of Investment Property 37,365 437,882
Loss on Sale of Property, Plant and Equipment 87,024 135,156
Loss on Sale of Biological Assets 1,812 1,256
Loss on Sale of Assets 7,400 29,522
Loss of Assets 79,180 90,786
Loss from Changes in Fair Value of Financial
Instruments 104,903,070 68,550,963
Loss from Changes in Fair Value of Investment
Property 956,830 2,674,654
Loss on Guaranty 1,634 738
Share in the Loss of Associates/Affiliates 1,204 141,325
Other Losses 26,861,861 26,519,152
Total 234,027,145 116,583,508
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GSIS reported the highest losses as follows: Loss from Changes in Fair Value of
Financial Instruments – P82.50 billion or 78.64 percent; Loss on Foreign
Exchange (FOREX) – P66.37 billion or 69.81 percent; Loss on
Sale/Redemption/Transfer of Investments – P5.69 billion or 94.55 percent; and
Loss from Changes in Fair Value of Investment Property – P739.48 million or
77.28 percent. On the other hand, PDIC reported P20.12 billion or 74.89 percent
of Other Losses.
55. INCOME TAX EXPENSES
Income Tax Expenses of P30.22 billion was reported by the following GCs:
Amounts Percent to
Philippine Ports Authority 2,465,898 8.16
Manila International Airport Authority 1,983,039 6.56
Development Bank of the Philippines 1,487,991 4.92
Power Sector Assets & Liabilities Management
Corporation 1,404,154 4.65
National Development Company 1,382,683 3.90
PNOC Exploration Corporation 1,178,645 6.76
Home Guaranty Corporation 945,149 3.13
Civil Aviation Authority of the Philippines 831,370 2.75
Philippine Charity Sweepstakes Office 622,239 2.06
Sub-total 27,655,000 91.51
Other GCs 2,565,565 8.49
Total 30,220,565 100.00
56. NET ASSISTANCE/SUBSIDY
The Net Assistance/Subsidy of P34.88 billion was arrived at as follows:
2017
2018
(in thousand pesos)
Assistance and Subsidy 121,726,258 127,686,290
Subsidy from National Government 119,461,668 125,082,521
Subsidy from Other National Government Agencies - 50
Assistance from Local Government Units 1,999,632 2,334,546
Assistance from Government Corporations 264,958 269,173
Less: Financial Assistance/Subsidy/Contribution 86,850,193 64,561,653
Financial Assistance to NGAs 56,150,959 39,296,687
Financial Assistance to Local Government Units 2,562,843 2,580,756
Financial Assistance to NGOs/POs 2,695,805 50,012
Subsidy to Operating Units 75,277 1,350,590
Subsidy to Other Funds 1,713,746 1,625,838
Financial Assistance to Government Corporations 188,303 80,752
Contribution to AFP Modernization 4,853,779 4,155,112
Charity Expenses 198,978 493,549
Financial Assistance/Subsidy/Contribution-Others 18,410,504 14,928,357
Net Assistance/Subsidy 34,876,065 63,124,636
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Substantial amounts of Subsidy from National Government were reported by the
following GCs: PHIC – P55.94 billion or 46.82 percent; NIA – P33.30 billion or 27.88
percent; and NFA – P12.79 billion or 10.70 percent. PAGCOR reported P54.75 billion
or 97.50 percent of the Financial Assistance to NGAs, while PCSO recognized P9.00
billion or 48.88 percent of total Financial Assistance/Subsidy/Contribution-Others.
57. OTHER COMPREHENSIVE INCOME/(LOSS)
The total Other Comprehensive Income/Loss is computed as follows:
2017
2018
(in thousand pesos)
Changes in Fair Value of Investments (64,408,944) 6,814,017
Translation Adjustment 256,648 (14,561)
Unrealized gain on revaluation of investments 1,061,193 -
Revaluation Surplus 8,748,867 -
Total (54,342,237) 6,799,456
The negative balance of Changes in Fair Value of Investments of P64.41 billion is the
net of total Unrealized Gain of P6.59 billion and Unrealized Loss of P71.00 billion. The
three GCs which reported the highest Unrealized Loss were: GSIS – P39.83 billion or
56.10 percent; SSS – P22.27 billion or 31.36 percent; and HDMF – P7.07 billion or
9.96 percent.
The SSS solely reported the Unrealized gain on revaluation of investments. The GSIS
reported Revaluation Surplus of P7.58 billion or 86.66 percent.
58. COMPREHENSIVE INCOME/(LOSS)
The combined Comprehensive Income of P254.74 billion is net of total Comprehensive

Income of P280.93 billion and total Comprehensive Loss of P26.18 billion. Among the
GCs, BSP registered as top earner with Comprehensive Income of P39.36 billion or
14.01 percent, followed by GSIS and PAGCOR at P31.70 billion or 11.29 percent, and
P31.49 billion or 11.21 percent, respectively. The three GCs which incurred the biggest
Comprehensive Loss were as follows: PSALM – P9.76 billion or 37.26 percent;
NORTHRAIL – P6.01 billion or 22.94 percent; and LRTA – P4.27 billion or 16.31
percent.
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59. CASH INFLOWS FROM OPERATING ACTIVITIES
The cash inflows from operating activities of P2.465 trillion were sourced from the
following:
2017
2018
(in thousand pesos)
Proceeds from Sale of Goods and Services 69,798,573 55,739,838
Collection of Income/Revenue 868,545,497 781,525,050
Receipt of Assistance/Subsidy 111,573,385 122,663,237
Collection of Receivables 384,369,175 375,821,481
Receipt of Inter-Agency Fund Transfers 27,963,571 17,103,368
Receipt of Intra-Agency Fund Transfers 33,169,169 37,568,868
Trust Receipts 257,637,505 204,283,513
Other Receipts 705,403,676 333,555,090
Total Cash Inflows 2,458,460,551 1,928,260,446
Adjustments 6,311,222 5,600,857
Adjusted Cash Inflows 2,464,771,774 1,933,861,302
Of the total cash inflows, HDMF of P466.65 billion, DBP of P450.67 billion and LBP
of P300.89 billion registered 18.98 percent, 18.33 percent and 12.24 percent,
respectively.
Collection of income/revenue of P868.55 billion represents 35.24 percent of the total

adjusted cash inflows from operating activities. The GCs that reported the highest
collections of income/revenue were: SSS – P181.92 billion, GSIS – P121.78 billion and
PSALM – P86.27 billion, or 20.95 percent, 14.02 percent and 9.93 percent,
respectively.
Of the total collection of receivables of P384.37 billion, the DBP reported P203.91
billion or 53.05 percent which pertained to the collection of loans and receivables.
Of the Other Receipts of P705.40 billion, P378.55 billion or 53.66 percent was reported
by HDMF which includes the proceeds from matured investments of P373.02 billion
reported under its operating activities. DBP and BSP reported P215.57 billion or 30.56
percent and P82.13 billion or 11.64 percent, respectively.
60. CASH OUTFLOWS FROM OPERATING ACTIVITIES
The cash outflows from operating activities of P2.370 trillion were used for the
following:
2017
2018
(in thousand pesos)
Payment of Expenses 492,500,956 455,137,161
Purchase of Inventories 10,791,629 7,515,780
Grant of Cash Advances 3,953,590 2,877,339
Prepayments 5,684,886 7,208,092
Refund of Deposits 5,655,418 4,091,578
98
2017
2018
(in thousand pesos)
Payments of Accounts Payable 139,739,299 127,471,909
Remittance of Personnel Benefit Contributions and
Mandatory Deductions 50,848,338 45,823,719
Grant of Financial Assistance/Subsidy/Contribution 69,857,865 52,349,404
Release of Inter-Agency Fund Transfers 9,169,529 5,653,092
Release of Intra-Agency Fund Transfers 33,254,333 42,520,083
Release of Loans (Financial Institutions) 370,404,487 322,984,961
Other Disbursements 1,173,770,171 501,030,250
Total Cash Outflows 2,365,630,501 1,574,663,368
Adjustments 4,389,674 5,768,252
Adjusted Cash Outflows 2,370,020,175 1,580,431,620
Of the total Payment of Expenses of P492.50 billion or 20.78 percent of the total
adjusted cash outflows from operating activities, SSS reported P189.41 billion or 38.46
percent for payment of current operating expenses.
Of the Payments of Accounts Payable of P139.74 billion, GSIS shared P105.17 billion
or 75.26 percent.
Of the Release of Loans (Financial Institutions) of P370.40 billion, DBP reported

Of the Other Disbursements of P1.174 trillion, which represents 49.53 percent of the
total adjusted cash outflows, the HDMF reported P377.34 billion or 32.15 percent
including P373.01 billion for the purchase/acquisition of investment in stocks/bonds/
marketable securities reported under its operating activities.
61. CASH INFLOWS FROM INVESTING ACTIVITIES
The cash inflows from investing activities are composed of the following:
2017
2018
(in thousand pesos)
Proceeds from Sale/ Disposal of Investment Property 39,236,330 1,179,887
Proceeds from Sale/Disposal of Property, Plant and
Equipment 429,411 2,470,955
Sale of Investments 194,916,653 214,054,079
Receipt of Interest Earned 59,920,521 48,912,926
Receipt of Cash Dividends 6,480,451 6,168,302
Proceeds from Matured Investments/Redemption of
Long-term Investments/Return on Investments 359,682,559 260,585,311
Collection of Long-Term Loans 173,468,997 127,050,686
Proceeds from Sale of Other Assets 294,934 12,991
Total Cash Inflows 834,429,857 660,435,136
Adjustments 3,070,911 22,488,807
Adjusted Cash Inflows 837,500,768 682,923,943
99
Sale of Investments of P194.92 billion shares 23.36 percent of the total gross cash
inflows. Of this amount, P132.94 billion or 68.20 percent represents LBP’s proceeds
from sale of stocks/bonds/domestic/marketable securities.
Of the total Proceeds from Matured Investments/Redemption of Long-term

Investment/Return on Investments of P359.68 billion or 43.11 percent of the gross cash
inflows, GSIS reported net amount of P143.11 billion or 39.79 percent. GSIS also
reported P173.11 billion or 99.79 percent of the total collection of long-term loans.
62. CASH OUTFLOWS FROM INVESTING ACTIVITIES
The cash outflows from investing activities of P1.002 trillion was utilized for the
following:
2017
2018
(in thousand pesos)
Purchase/Construction of Investment Property 358,351 164,728
Purchase/Construction of Property, Plant and Equipment 50,350,131 55,787,455
Purchase/Acquisition of Investments 722,247,528 712,736,137
Purchase of Bearer Biological Assets 6,706 8,358
Purchase of Consumable Biological Assets 14,709 13,225
Purchase of Intangible Assets 246,105 240,292
Grant of Loans 220,035,774 119,895,696
Total Cash Outflows 993,259,304 888,845,892
Adjustments 9,094,243 2,669,323
Adjusted Cash Outflows 1,002,353,547 891,515,216
The total Purchase/Acquisition of Investments of P722.25 billion or 72.71 percent of

the gross cash outflows substantially consists of P216.14 billion or 29.93 percent
reported by the GSIS representing investments in stocks/bonds/marketable securities
and other long-term investments of P196.83 billion and P19.31 billion, respectively.
The GSIS also shared P207.45 billion or 94.28 percent of the total Grant of Loans.
63. CASH INFLOWS FROM FINANCING ACTIVITIES
This is composed of the following:
2017
2018
(in thousand pesos)
Proceeds from Incurrence of Financial Liabilities 1,263,769,903 905,350,839
Proceeds from Issuance of Bonds and Acceptances Payable 316,982 93
Proceeds from Domestic and Foreign Loans 218,495,106 193,734,404
Equity/Contribution from National Government 13,509,420 14,612,244
Proceeds from Issuance of Capital Stock and other Equity
Securities 43,100,712 34,121,301
Total Cash Inflows 1,539,192,123 1,147,818,881
Adjustments 465,707 228,955
Adjusted Cash Inflows 1,539,657,830 1,148,047,836
100
Of the total Proceeds from Incurrence of Financial Liabilities, BSP solely reported
P1.263 trillion proceeds from issuance of currency.
Of the Proceeds from Domestic and Foreign Loans of P218.50 billion or 14.20 percent
of the gross cash outflows, DBP reported P158.84 billion or 72.70 percent consisting of
proceeds from foreign loans and domestic loans of P150.82 billion and P8.01 billion,
respectively.
64. CASH OUTFLOWS FROM FINANCING ACTIVITIES
Cash outflows from financing activities of P1.405 trillion is composed of the following:
2017
2018
(in thousand pesos)
Payment of Long-Term Liabilities 1,299,403,581 1,008,052,154
Redemption of Bonds Issued and Unsecured Subordinated
Debt/Payment of Acceptances Payable 2,844,553 21,520,258
Payment for Reacquisition of Capital Stock and Other Equity
Securities 21,414,267 10,105,056
Payment of Interest on Loans and Other Financial Charges 25,120,157 24,625,993
Payment of Cash Dividends 38,805,345 25,997,175
Total Cash Outflows 1,387,587,903 1,090,300,636
Adjustments 17,425,876 10,319,900
Adjusted Cash Outflows 1,405,013,779 1,100,620,536
Payment of Long-Term Liabilities of P1.299 trillion represents 93.64 percent of the

gross cash outflows. Of this amount, P1.040 trillion or 80.07 percent pertained to the
payment of other long-term liabilities of BSP.
65. EFFECTS OF EXCHANGE RATE CHANGES ON CASH AND CASH

EQUIVALENTS
The net Gain on Foreign Exchange of P144.60 billion resulted from the translation of
foreign currencies to Philippine peso during the year. Of this amount, BSP reported
66. CASH AND CASH EQUIVALENTS, December 31
The ending balance of Cash and Cash Equivalents for CY 2018 of P1.665 trillion was
higher by P209.15 billion or 14.37 percent than the CY 2017 balance of P1.456 trillion.
BSP reported P743.11 billion or 44.64 percent of the CY 2018 ending balance.
101
PART III
SCHEDULES
AND
ANNEXES
SCHEDULES
Schedule 1
Top 30 Government Corporations in Total Assets

(in thousand pesos)
Rank Name of Government Corporations Amount
1 Bangko Sentral ng Pilipinas (with Philippine International Convention

Center, Inc.) 4,851,291,367
2 Land Bank of the Philippines 1,877,693,337
3 Government Service Insurance System 1,134,343,925
4 Development Bank of the Philippines 669,588,020
5 Power Sector Assets & Liabilities Management Corporation 662,517,358
6 Home Development Mutual Fund 532,875,134
7 Social Security System 511,465,947
8 National Irrigation Administration 386,318,888
9 National Food Authority 313,857,644
10 National Transmission Corporation 312,870,674
11 Philippine Deposit Insurance Corporation 236,361,429
12 Bases Conversion and Development Authority 182,793,935
13 Philippine Health Insurance Corporation 174,861,109
14 National Housing Authority 141,332,194
15 Philippine Ports Authority 133,361,979
16 Water Districts 83,440,015
17 Philippine Amusement and Gaming Corporation 75,713,187
18 Civil Aviation Authority of the Philippines 69,728,524
19 Mactan-Cebu International Airport Authority 65,043,323
20 Light Rail Transit Authority 64,474,038
21 Manila International Airport Authority 59,323,060
22 Metropolitan Waterworks & Sewerage System 56,517,278
23 Philippine National Railways 54,175,930
24 National Power Corporation 48,946,872
25 Philippine National Oil Company 40,124,464
26 National Home Mortgage Finance Corporation 37,385,457
27 Home Guaranty Corporation 33,220,369
28 Subic Bay Metropolitan Authority 32,985,972
29 Philippine International Trading Corporation 31,676,163
30 Philippine Retirement Authority 31,348,219
102
Schedule 2
Top 30 Government Corporations in Total Liabilities

(in thousand pesos)

Center, Inc.) 4,734,856,964
2 Land Bank of the Philippines 1,742,735,050
14 National Home Mortgage Finance Corporation 35,296,943
15 Philippine International Trading Corporation 30,807,965
20 Government Service Insurance System 21,751,141
21 Social Housing Finance Corporation 21,190,246
22 North Luzon Railways Corporation 20,340,003
24 National Electrification Administration 19,037,329
26 Philippine Charity Sweepstakes Office 14,703,168
27 Philippine National Construction Corporation 14,234,949
28 AFP Retirement and Separation Benefits System 14,064,720
103
Schedule 3
Top 30 Government Corporations in Total Net Assets/Equity

(in thousand pesos)
1 Government Service Insurance System 1,112,592,784

8 Land Bank of the Philippines 134,958,287
Center, Inc.) 116,434,403
14 Mactan-Cebu International Airport Authority 64,223,678
19 Philippine National Oil Company 36,168,675
25 Tourism Infrastructure and Enterprise Zone Authority 19,493,719
26 National Development Company 15,602,203
27 PNOC Exploration Corporation 14,261,108
28 Veterans Federation of the Philippines 11,071,841
30 Local Water Utilities Administration 9,838,457
104
Schedule 4
Top 30 Government Corporations in Total Income

(in thousand pesos)

Center, Inc.) 140,569,273
20 AFP Retirement and Separation Benefits System 7,222,682
22 National Development Company 5,094,711
24 Tourism Infrastructure and Enterprise Zone Authority 3,779,697
26 Philippine Postal Corporation 3,700,351
27 National Kidney and Transplant Institute 3,684,159
28 Philippine Economic Zone Authority 3,301,498
29 Philippine Heart Center 3,044,144
105
Schedule 5
Top 30 Government Corporations in Total Expenses

(in thousand pesos)

Bangko Sentral ng Pilipinas (with Philippine International Convention
5 Center, Inc.) 85,370,217
20 North Luzon Railways Corporation 6,095,437
22 Philippine Crop Insurance Corporation 4,072,247
24 Philippine Postal Corporation 3,674,765
25 National Kidney and Transplant Institute 3,582,776
26 Philippine Heart Center 3,543,053
28 Philippine Coconut Authority 2,337,573
106
Schedule 6
Aging of Accounts Receivable

(in thousand pesos)
Amount Due
Current Past Due No Aging
Amount
Name of Government Corporations 211 to Report
Balance 61 to 365 91 days to 1 Over 365 Over 1 year Over 2 years Over 3 years
1 to 90 days 365 Submitted
days year days to 2 years to 3 years and onwards
days
Cluster 1 - Banking and Credit 30,069,785 640,107 - 12,224,190 - 6,611 3,690,256 2,825,878 10,325,197 357,547
Al-Amanah Islamic Investment Bank of the

Philippines 7,127 245 - 2,817 - - 133 5 3,926 -
Bangko Sentral ng Pilipinas (with Philippine
27,726,036 241,425 - 11,770,173 - - 3,316,811 2,774,169 9,391,948 231,510
International Convention Center, Inc.)
Credit Information Corporation 1,340 1,340 - - - - - - 1 -
DBP Data Center, Inc. 120,691 54,552 - 10,812 - - 55,326 -
107
DBP Leasing Corporation 9,474 901 - 296 - - 107 30 8,140 -

Development Bank of the Philippines 17,941 - - 12,107 - - - 5,834 - -
Land Bank of the Philippines 1,573,259 211,728 - 198,400 - - 275,870 41,677 845,586 -
Land Bank Resources and Development
Corporation 225,118 72,974 - 46,693 - - 595 677 104,178
Landbank Countryside Development
Foundation, Inc. 20 20 - - - - - - - -
LBP Insurance Brokerage, Inc. 99,198 27,993 - 28,688 - - 697 41,820 -
LBP Leasing and Finance Corporation 3,559 1,259 - 2 - - - - 2,299 -
Masaganang Sakahan, Inc. 60,599 11,442 - 6,789 - - 6,380 3,649 10,521 21,818
Northern Foods Corporation 22,934 15,549 - 774 - 6,611 - - - -
Overseas Filipino Bank, Inc. 202,488 679 - 146,638 - - 34,337 514 20,280 40
- - - - - - - -
Cluster 2 - Social Security Services and Housing 109,726,730 57,730,726 - 6,462,396 - - 6,753,508 5,203,577 33,576,524 -
AFP Retirement and Separation Benefits
System 438,825 - - - - - - - 438,825 -
Employees' Compensation Commission 35,371 15,291 - 216 - - 3,798 1,184 14,882 -
Home Development Mutual Fund 1,695,373 773,114 - 110,357 - - 124,623 34,326 652,954 -
Schedule 6
Amount Due
Amount
days
National Home Mortgage Finance Corporation 9,654 - - 560 - - - - 9,094 -
National Housing Authority 13,348,883 6,617,239 - 89,558 - - 367,868 628,780 5,645,437 -
Small Business Guarantte and Finance
Corporation 39,278 5,904 - 5,387 - - 2,148 238 25,600 -
Social Security System 94,142,398 50,316,581 - 6,255,170 - - 6,255,070 4,539,049 26,776,529 -
Southern Utility Management and Services,
Inc. 4,118 2,596 - 1,149 - - - - 374 -
Trade and Investment Development
Corporation of the Philippines 12,830 - - - - - - - 12,830 -
Cluster 3 - Public Utilities -
226,368,377 67,680,137 380 10,303,810 - 2,429,318 414,463 1,208,980 63,482,951 80,848,337
APO Production Unit, Inc. 672,090 653,975 - 4,687 - 7,789 - 3,659 1,980 -
108
Cebu Port Authority 78,369 63,872 - 13,731 - (5,362) - (1,323) 7,451 -

Local Water Utilities Administration 46,453 - - - - - - - 46,453 -
Metropolitan Waterworks and Sewerage
System 1,551,679 386,690 - 103 - 52 - 15 1,162,177 2,643
National Electrification Administration 29,406 606 - - - - - 27 14,070 14,703
National Transmission Corporation 61,163,676 9,245 - 9,230 - - - - 826,074 60,319,127
Panay Railways, Incorporated 29,631 - - - - - - - - 29,631
Philippine National Oil Company 221,197 25 - - - 151,026 - - - 70,146
Philippine National Railways 15,355 - - 605 - 14,750 - - - -
Philippine Ports Authority 2,601,749 2,264,473 - 10,243 - 327,033 - - - -
Philippine Postal Corporation 1,960,802 1,536,148 - 61,858 - 89,329 - 95,894 177,573 -
PNOC Alternative Fuels Corporation 121,529 14,361 - - - 107,168 - - - -
PNOC Exploration Corporation 920,596 642,816 - - - 277,780 - - - -
PNOC Renewables Corporation 54,602 2,617 - 0 - 28 - - 51,956 -
PNOC Shipping and Transport Corporation 3,907 - - - - - - - - 3,907
Power Sector Assets and Liabilities
Management Corporation 152,463,291 61,041,541 - 9,873,123 - 1,459,725 - 909,390 60,374,378 18,805,134
Water Districts 4,434,043 1,063,766 380 330,231 - - 414,463 201,318 820,839 1,603,047
Schedule 6
Current Past Due

No Aging
Amount 211 to
Name of Government Corporations 61 to 365 91 days to 1 Over 365 Over 1 year Over 2 years Over 3 years Report
Balance 1 to 90 days 365
days year days to 2 years to 3 years and onwards Submitted
days
Cluster 4 - Industrial and Area Development 17,198,440 4,607,227 - 2,041,352 - - 684,353 516,222 8,443,410 905,876
Authority of the Freeport of Bataan 106,581 78,231 - 14,973 - - 10,631 2,747 -
Bases Conversion Development Authority 1,562,609 1,151,362 - - - - 0 30,840 380,406 -
Batangas Land Company, Inc. 33 33 - - - - - - - -
Cagayan Economic Zone Authority 146,275 69,026 - 77,085 - - - - 164 -
CDCP Farms Corporation 6,022 - - - - - - - 6,022 -
Civil Aviation Authority of the Philippines 4,480,160 1,389,408 - 1,223,935 - - 153,293 79,033 1,634,492 -
Clark Development Corporation 114,394 21,460 - 8,402 - - 3,768 3,425 3,241 74,098
Clark International Airport Corporation 110,309 23,425 - 5,699 - - 5,824 1,396 55,732 18,234
Corregidor Foundation, Inc. 2,867 2,727 - 113 - - 27 - - -
First Cavite Industrial Estate Inc. 4,035 20 - 165 - - - - 301 3,549
Inter-island Gas Service, Inc. 18,757 - - - - - - - 18,757 -
John Hay Management Corporation 9,474 213 - 117 - - 19 8 9,118 -
109
Laguna Lake Development Authority 78,901 - - - - - - - 78,901 -

Mactan-Cebu International Airport Authority 325,169 112,041 - 63,168 - - 71,612 451 16,473 61,423
Manila Gas Corporation 20,553 - - - - - - - 20,553 -
Manila International Airport Authority 3,075,785 1,143,688 - 151,551 - - 186,099 156,347 1,438,100 -
Marawi Resort Hotels, Inc. 490 - - - - - - - - 490
Partido Development Administration 21,660 7,527 - 3,698 - - 2,859 1,843 5,733 -
Philippine Aerospace Development 19,219 - - - - - - - - 19,219
CorporationEconomic Zone Authority
Philippine 670,625 - - 6,834 - - 6,687 2,727 13,753 640,624
Philippine National Construction Corporation 383,127 70,838 - 23,227 - - 1,689 23 287,349 -
Philippine Reclamation Authority 191,538 171 - - - - - - 112,555 78,811
PHIVIDEC Industrial Authority 799,005 99,211 - 211,603 - - 30,431 49,091 408,669
Poro Point Managemnt Corporation 1,761 216 - 58 - - - - 1,487 -
Southern Philippines Development Authority 13,013 - - - - - - - 12,559 454
Subic Bay Metropolitan Authority 4,594,767 127,240 - 227,038 - - 189,815 175,960 3,874,714 -
Tourism Infrastructure and Enterprise Zone
Authority 368,668 300,373 - 5,337 - - 3,318 680 50,001 8,958
Zamboanga City Special Economic Zone
Authority 72,646 10,017 - 18,351 - - 18,281 14,398 11,582 16,159
Schedule 6
Amount Due
Amount
days
Cluster 5 - Agricultural and Natural
Resources 31,745,485 541,686 - 220,667 7,564 228,953 398,695 241,893 6,605,574 23,500,454
Food Terminal, Inc. 27,124 26,871 - 252 - - - - - -
Human Settlements Development Corporation 24,572 3,094 - - - - - - 21,478 -
National Dairy Authority 862,485 458,314 121,999 - 54,078 68,935 - 159,159 -
National Food Authority 511,463 8,006 - 225 - - 1 - 503,231 -
National Irrigation Administration 23,500,454 - - - - - - - - 23,500,454
National Tobacco Administration 34,999 20,434 - 3,345 - 314 - 4,422 6,485 -
Natural Resources Development Corporation 38,520 - - 3,933 7,564 - - - 27,024 -
Philippine Coconut Authority 731,889 3,575 - 1,828 - 118,814 - 121,609 486,064 -
Philippine Fisheries Development Authority 232,532 - - 43,129 - 14,827 23,464 36,886 114,225 -
110
Philippine Mining Development Corporation 9,174 9,174 - - - - - - - -

Philippine Rice Research Institute 67,101 7,836 - 19,210 - - (3,470) 10,821 32,704 -
Quedan and Rural Credit Guarantee
Corporation 5,683,536 1,019 - 8,473 - 40,920 309,766 68,155 5,255,204 -
Sugar Regulatory Administration 21,636 3,362 - 18,274 - - - - - -
Cluster 6 - Social, Cultural, Trading,

Promotional and Other Services 10,756,626 5,813,871 - 1,921,437 - 382,688 - 161,972 2,141,669 334,989
Boy Scouts of the Philippines 100,994 49,501 - 34,211 - 5,899 - 81 11,303 -
Center for International Trade Expositions and 9,297 7,908
Missions 17,205 - - - - - - -
Cultural Center of the Philippines 7,045 1,301 - 1,134 - 528 - 74 4,009 -
Development Academy of the Philippines 253,217 76,645 - 46,157 - 41,053 - 16,126 73,236 -
Intercontinental Broadcasting Corporation 327,177 (7,717) - 12,214 - 16,533 - (3,791) 309,939 -
Lung Center of the Philippines 89,414 36,729 - 3,999 - 3,511 - 1,080 44,095 -
National Kidney and Transplant Institute 548,937 51,371 - 50,975 - 96,533 - 47,242 302,816 -
People's Television Network, Inc. 629,184 44,007 - 29,672 - 2,515 - 7,060 545,930 -
Philippine Amusement and Gaming
Corporation 6,526,918 4,297,930 - 1,582,345 - 156,526 - 25,228 464,889 -
Schedule 6
Amount Due
Amount
days
Philippine Center for Economic Development 193 - 144 - - - 49 -
Philippine Charity Sweepstakes Office 1,381,360 809,905 - 13,262 - 9,592 - 19,459 194,153 334,989
Philippine Children's Medical Center 107,517 59,895 - 4,601 - 7,570 - 4,145 31,306 -
Philippine Heart Center 494,471 356,134 - 73,319 - 33,086 - 31,931 - -
Philippine Institute of Traditional and
Alternative Health Care 5,003 107 - 67 - 316 - 241 4,271 -
Philippine International Trading Corporation 85,151 2,411 - 38 - 515 - 8 82,180 -
Philippine Pharma Procurement, Inc 45,267 7,309 - 2,489 - 1,105 - - 34,365 -
Philippine Retirement Authority 75,028 14,971 - 12,943 - 7,406 - 13,039 26,669 -
Veterans Federation of the Philippines 62,544 13,372 - 44,570 - - - - 4,602 -
111
Total 425,865,444 137,013,753 380 33,173,852 7,564 3,047,570 11,941,276 10,158,522 124,575,325 105,947,203
Schedule 7
Inter-Agency Receivables
(in thousand pesos)
Due from
Due from National Due from Local Due from
Subsidiaries/Joint Due from Parent
Name of Government Corporations Government Government Government Total
Ventures/Associates/ Corporations
Agencies Units Corporations
Affiliates
Cluster 1 - Banking and Credit 78,781,199 - 105 2,909 281,527 79,065,740

Center, Inc.) 78,713,909 - - 2,909 - 78,716,818
DBP Leasing Corporation 46 - 27 - - 73
Landbank Countryside Development Foundation, Inc. - - 42 - 13,371 13,412
LBP Insurance Brokerage, Inc. - - 36 - - 36
LBP Leasing and Finance Corporation 116 - - - 268,156 268,272
Northern Foods Corporation 3,980 - - - - 3,980
Philippine Deposit Insurance Corporation 63,148 - - - - 63,148
112
Cluster 2 - Social Security and Housing 1,427,423 2,202,910 1,924,284 37,462 60,646 5,652,724
AFP Retirement and Separation Benefits System - - - 17,550 - 17,550
Employees’ Compensation Commission 1,953 - 37,503 - - 39,456
Home Guaranty Corporation 130,843 7,364 1,850,237 - - 1,988,444
National Home Mortgage Finance Corporation - - 4,991 19,911 - 24,902
National Housing Authority 1,285,719 2,195,546 25,384 - - 3,506,649
Palacio Del Gobernador Condominium Corporation 8,101 - 476 - - 8,577
Social Housing Finance Corporation 1,037 - 5,665 - 59,346 66,048
Southern Utilities Management Services, Inc. - - - - 1,300 1,300
Trade and Investment Development Corporation of the Philippines (229) - 28 - - (202)
-
Cluster 3 - Public Utilities 6,470,241 8,754 10,331,970 174,163 101,975,200 118,960,328
APO Production Unit, Inc. - - 9 7,761 - 7,770
Light Rail Transit Authority 707,997 - 261 698 - 708,956
Local Water Utilities Administration 11,709 - - - - 11,709
Metropolitan Waterworks & Sewerage System 18,287 13 2,912 - - 21,213
National Power Corporation 121,174 - 378 - - 121,552
Schedule 7
Due from
Affiliates
National Transmission Corporation - - 162,489 - 101,966,578 102,129,067

Panay Railways, Inc. - - - 28,201 - 28,201
Philippine National Oil Company - - 112,543 16,952 - 129,495
Philippine National Railways 20,266 - - - - 20,266
Philippine Ports Authority 354 252 35,439 - - 36,045
Philippine Postal Corporation 618,543 - - 65,370 - 683,914
PNOC Development and Management Corporation - - - 1,399 - 1,399
PNOC Exploration Corporation - - - 1,992 1,737 3,729
PNOC Renewables Corporation - - 2,111 180 - 2,291
PNOC Shipping and Transport Corporation - - - 666 6,885 7,551
Power Sector Assets & Liabilities Management Corporation 4,935,367 - 10,015,025 - - 14,950,392
Water Districts 36,542 8,489 803 50,944 - 96,778
Cluster 4 - Industrial and Area Development 7,151,703 252,138 679,168 30,581,854 33,784 38,698,647
113
Alabang Sto. Tomas Development, Inc. 4,226 - - - - 4,226

Bases Conversion and Development Authority 1,666,346 3,750 845 30,372,300 - 32,043,241
BCDA Management and Holdings, Inc. - - 8,049 - - 8,049
Cagayan Economic Zone Authority - - 889 - - 889
Civil Aviation Authority of the Philippines 63,726 5,184 127 - - 69,037
Clark Development Corporation - 7,918 204,632 - - 212,549
Clark International Airport Corporation - - 71,346 - - 71,346
DISC Contractors Builders and General Services, Inc. - - - 80,467 - 80,467
First Cavite Industrial Estate Inc. 166 - - - - 166
John Hay Management Corporation - - 142 - 28,981 29,123
Kamayan Realty Corporation - - - - - -
Mactan-Cebu International Airport Authority 1,157 - 212 - - 1,369
Manila Gas Corporation - - - 18,525 - 18,525
Manila International Airport Authority 1,847,342 - - - - 1,847,342
National Development Company - - - 1,469 - 1,469
North Luzon Railways Corporation 27 639 592 - - 1,258
Partido Development Administration 234 116 44 - - 394
Philippine Economic Zone Authority 423 - 2,281 - - 2,704
Schedule 7
Due from
Affiliates
Philippine National Construction Corporation 150,000 - - 2,401 - 152,401

Philippine Reclamation Authority 2,830,957 66,369 279,966 4,098 - 3,181,390
PHIVIDEC Industrial Authority 28,834 - 728 - - 29,562
Poro Point Management Corporation - - - - 4,797 4,797
Subic Bay Metropolitan Authority 507,733 - - 53,703 - 561,436
Subic-Clark Alliance for Development - - - 6 6
Tourism Infrastructure and Enterprise Zone Authority 50,470 168,162 109,316 48,890 - 376,838
Zamboanga City Special Economic Zone Authority 62 - - - - 62
-
Cluster 5 - Agricultural and Natural Resources 2,489,552 252,832 14,874,080 - - 17,616,464
Food Terminal, Inc. 518,760 - 318 - - 519,078
Human Settlements Development Corporation - - 22,111 - - 22,111
National Dairy Authority 624 - 397 - - 1,021
114
National Food Authority 769,689 14,764 235,366 - - 1,019,818

National Irrigation Administration 855,671 187,799 13,462,350 - - 14,505,820
National Tobacco Administration 952 - 79 - - 1,030
Natural Resources Development Corporation 16,230 - 77,071 - - 93,301
Philippine Coconut Authority 46,398 37,081 187,071 - - 270,550
Philippine Crop Insurance Corporation 1,622 - - - - 1,622
Philippine Fisheries Development Authority 487 572 - - - 1,059
Philippine Mining Development Corporation - - 23 - - 23
Philippine Rice Research Institute 41,085 12,615 1,411 - - 55,112
Philippine Sugar Corporation 82,153 - - - - 82,153
Quedan and Rural Credit Guarantee Corporation 3,788 - - - - 3,788
Sugar Regulatory Administration 152,094 - 887,883 - - 1,039,977
Cluster 6 - Social, Cultural, Trading, Promotional and Other Services 11,999,912 455,262 467,485 - 12,513 12,935,172
Center for International Trade Expositions and Missions 1,599 - - - - 1,599
Cultural Center of the Philippines 785,263 - 191 - - 785,454
Development Academy of the Philippines 2,990 - - - - 2,990
Lung Center of the Philippines - - 70,104 - - 70,104
National Kidney and Transplant Institute 3,756 - 230,176 - - 233,932
Schedule 7
Due from
Affiliates
Philippine Amusement and Gaming Corporation - - 2,630 - - 2,630

Philippine Center for Economic Development 26,874 - - - - 26,874
Philippine Children's Medical Center 371,204 19,987 - - 391,191
Philippine Health Insurance Corporation 10,794,695 455,262 - - 11,249,958
Philippine Heart Center 4,714 - 143,579 - - 148,293
Philippine Institute for Development Studies 8,048 - - - - 8,048
Philippine Institute of Traditional and Alternative Health Care 23 - 20 - - 43
Philippine Pharma Procurement, Inc. 745 - 2 - 12,513 13,260
Veterans Federation of the Philippines - - 797 - - 797
Total 108,320,029 3,171,895 28,277,093 30,796,388 102,363,670 272,929,074

115
Schedule 8
Aging of Unliquidated Cash Advances for Operating Expenses

(in thousand pesos)
Amount Due
Amount
Name of Government Corporations Report
Balance 91 days to 1 Over 1 year to Over 3 years
1 to 90 days Submitted
year 2 years and onwards
Cluster 2 - Social Security Services and Housing 115,145 1 114,153 - - 990

National Housing Authority 115,145 1 114,153 - - 990
Cluster 3 - Public Utilities 7,990 6,142 1,193 87 415 154

Local Water Utilities Administration - - - - - -
Philippine National Oil Company 302 302 - - - -
116
PNOC Alternative Fuels Corporation - - - - - -

Philippine Ports Authority 500 500 - - - -
Philippine Postal Corporation 5,836 4,473 1,193 34 135 -
Water Districts 1,352 866 - 53 279 154
Cluster 5 - Agricultural and Natural Resources 969 138 72 - - 759

National Dairy Authority 138 138 - - - -
National Tobacco Administration 72 - 72 - - -
National Irrigation Administration 759 - - - - 759
Cluster 6 - Social, Cultural, Trading, Promotional and Other Services 518 - 518 - - -
Cultural Center of the Philippines 500 - 500 - - -
People's Television Network, Inc. 18 - 18 - - -
Total 124,622 6,281 115,937 87 415 1,903

Schedule 9
Aging of Unliquidated Cash Advances for Payroll

(in thousand pesos)
Amount Due
No Aging
Amount Current Past Due
Balance 91 days to 1 Over 1 year to 2 Over 3 years
year years and onwards
Cluster 1 - Banking and Credit 221,661 - - - - 221,661
- - - -
Center, Inc.) 221,661 221,661
Cluster 2 - Social Security Services and Housing 673 58 615 - - -

National Housing Authority 673 58 615 - - -
Cluster 3 - Public Utilities 38,350 10,769 (861) (2,395) 7,643 23,194

117
Cebu Port Authority 5,191 5,191 - - - -

Local Water Utilities Administration 5 5 - - - -
Philippine National Railways 113 - 113 - - -
Philippine Postal Corporation 17,573 3,831 (169) (2,395) - 16,306
Water Districts 15,469 1,743 (805) - 7,643 6,888
Cluster 4 - Industrial and Area Development 1,619 235 26 - 1,472 (114)

Civil Aviation Authority of the Philippines 1,560 62 26 - 1,472 -
Laguna Lake Development Authority 3 - - - - 3
Southern Philippines Development Authority (117) - - - - (117)
Zamboanga City Special Economic Zone Authority 173 173 - - - -
Cluster 5 - Agricultural and Natural Resources 9,833 1,402 - - - 8,325

National Food Authority 15 15 - - - -
National Irrigation Administration 8,325 - - - - 8,325
National Tobacco Administration 1,387 1,387 - - - -
Quedan and Rural Credit Guarantee Corporation 106 - - - 106 -
Schedule 9
Amount Due
No Aging
Balance 91 days to 1 Over 1 year to 2 Over 3 years
year years and onwards
Cluster 6 - Social, Cultural, Trading, Promotional and Other Services 4,585 4,585 - - - -
Cultural Center of the Philippines 192 192 - - - -
Lung Center of the Philippines 322 322 - -
Philippine Amusement and Gaming Corporation 26 26 - - - -
Philippine Charity Sweepstakes Office 4,045 4,045 - - - -
Total 276,721 276,721 276,721 276,721 276,721 276,721

118
Schedule 10
Aging of Unliquidated Cash Advances to Special Disbursing Officers

(in thousand pesos)
Amount Due
No Aging
Balance 91 days to 1 Over 1 year Over 2 years Over 3 years
year to 2 years to 3 years and onwards
Cluster 2 - Social Security Services and Housing 12,451 5,337 5,316 - - - 1,798
National Home Mortgage Finance Corporatiom 3,618 1,819 - - - - 1,799
National Housing Authority 6,893 1,578 5,316 - - - (1)
Social Housing Finance Corporation 1,940 1,940 - - - - -
Cluster 3 - Public Utilities 53,174 29,680 8,031 822 5,402 9,235 4

Local Water Utilities Administration 3,845 714 2,993 138 - - -
119
Metropolitan Waterworks and Sewerage System 63 63 - - - - -

National Power Corporation 10,368 5,639 889 575 3,041 224 -
Philippine National Oil Company 3 3 - - - - -
Philippine National Railways 2,542 486 1,579 - - 477 -
Philippine Ports Authority 2,562 - 2,500 62 - - -
Philippine Postal Corporation 29,028 20,010 8 - 2,361 6,649 -
Water Districts 4,764 2,766 62 47 1,885 4
Cluster 4 -Industrial and Area Development 36,650 3,893 454 47 - 31,951 305
Civil Aviation Authority of the Philippines 35,944 3,849 447 47 - 31,600 -
Corregidor Foundation, Inc. 25 25 - - - - -
Laguna Lake Development Authority 324 11 7 0 - - 305
Mactan-Cebu International Airport Authority 347 (4) - - - 351 -
Manila International Airport Authority 11 11 - - - - -
Cluster 5 - Agricultural and Natural Resources 43,330 14,745 354 163 48 5,146 22,873
Food Terminal, Inc. 30 30 - - - - -
National Food Authority 3,365 3,005 197 163 - - -
National Irigation Administration 22,873 - - - - - 22,873
Schedule 10
Amount Due
No Aging
National Tobacco Administration 1,659 - - - - 1,659 -
Natural Resources Development Corporation 3,692 127 76 - 2 3,488 -
Philippine Coconut Authority 4,088 4,088 - - - - -
Philippine Crop Insurance Corporation 246 200 - - 46 - -
Philippine Fisheries Development Authority 240 240 - - - - -
Philippine Mining Development Corporation 5,090 5,090 - - - - -
Philippine Rice Research Institute 288 288 - - - - -
Quedan and Rural Credit Guarantee Corporation 8 8 - - - (0) -
Sugar Regulatory Administration 1,751 1,669 82 - - - -
Cluster 6 - Social, Cultural, Trading, Promotional and Other Services 20,726 15,216 1,857 108 - 1,307 2,239
Boy Scouts of the Philippines 42 - - 42 - - -
Cultural Center of the Philippines 933 436 155 53 - 290 -
120
Development Academy of the Philippines 615 615 - - - - -

People's Television Network, Inc. 1,556 985 557 14 - - -
Philippine Charity Sweepstakes Office 16,199 12,829 114 - - 1,017 2,239
Philippine Children's Medical Center 1,252 222 1,030 - - - -
Philippine Health Insurance Corporation 15 15 - - - - -
Philippine Retirement Authority 113 113 - - - - -
Tourism Promotions Board - - - - - - -
Total 166,332 68,870 16,012 1,140 5,450 47,640 27,220

Schedule 11
Aging of Unliquidated Cash Advances to Officers and Employees

(in thousand pesos)
Amount Due
No Aging
Cluster 1 - Banking and Credit 166,528 8,121 4,348 57 323 288 153,390
Center, Inc.) 69,762 1,631 129 - - 226 67,776
DBP Data Center, Inc. 47 2 12 - - 33
Land Bank of the Philippines 96,104 6,408 4,220 45 323 62 85,046
Land Bank Resources and Development Corporation 523 - - - - - 523
Landbank Countryside Development Foundation, Inc. 79 79 - - - - -
Northern Foods Corporation 12 - - - - - 12
121
Cluster 2 - Social Security Services and Housing 2,104 573 21 - - - 1,510

AFP Retirement and Separation Benefits System 191 - - - - - 191
Employees’ Compensation Commission 153 153 - - - - -
National Home Mortgage Finance Corporation 165 147 - - - - 18
National Housing Authority 211 190 21 - - - -
Small Business Guarantee amd Finance Corporation 1,301 - - - - - 1,301
Social Housing Finance Corporation 83 83 - - - - -
Cluster 3 - Public Utilities 22,877 4,414 840 1,148 343 12,942 3,191
Local Water Utilities Administration 94 94 - - - - -
National Power Corporation 177 144 - - - 32 -
National Transmission Corporation 362 - - - - 362 -
Philippine Ports Authority 549 99 43 136 - - 271
Philippine Postal Corporation 789 873 321 93 50 (548) -
PNOC Exploration Corporation 6 6 - - - - -
PNOC Renewables Corporation 5 5 - - - - -
Power Sector Assets and Liabilities Management Corporation 460 463 (6) 5 - (2) -
Water Districts 20,437 2,730 482 915 293 13,097 2,920
Schedule 11
Amount Due
No Aging
Cluster 4 - Industrial and Area Development 24,758 832 110 88 5 3,357 20,367
Alabang Sto. Tomas Development, Inc. 7 - - - - - 7
Bases Conversion Development Authority 2,582 43 - - - - 2,540
Civil Aviation Authority of the Philippines 5,908 2 1 0 0 2 5,902
Clark Development Corporation 2,809 - - - - - 2,809
Mactan-Cebu International Airport Authority 24 - (0) 24 - - (0)
Philippine Economic Zone Authority 6,293 0 0 - 0 - 6,293
Philippine Reclamation Authority 33 0 - - - - 33
PHIVIDEC Industrial Authority 1,241 - 1 0 0 0 1,239
Southern Philippines Development Authority 4,317 787 108 63 4 3,354 -
Zamboanga City Special Economic Zone Authority 1,543 - - - - - 1,543
122
Cluster 5 - Agricultural and Natural Resources 28,611 2,253 181 329 91 3,896 21,862
National Food Authority 400 395 3 - - 3 -
Food Terminal, Inc. 32 32 - - - - -
National Dairy Authority 85 85 - - - - -
National Irrigation Administration 21,862 - - - - - 21,862
National Tobacco Administration 140 78 16 46 - - -
Natural Resources Development Corporation 1,656 44 38 214 1,360 -
Philippine Coconut Authority 1,399 1,100 50 - - 249 -
Philippine Crop Insurance Corporation 173 81 2 - 90 - -
Philippine Fisheries Development Authority 36 36 - - - - -
Philippine Mining Development Corporation 69 5 - - - 63 -
Philippine Rice Research Institute 1,573 55 34 63 1 1,420 -
Quedan and Rural Credit Guarantee Corporation 861 16 38 6 801 -
Sugar Regulatory Administration 325 325 0 - - - -
Schedule 11
Amount Due
No Aging
Cluster 6 - Social, Cultural, Trading, Promotional and Other Services 61,597 14,044 4,065 2,436 1,183 9,548 30,321
Boy Scouts of the Philippines 2 - 2 - - - -
Center for International Trade Expositions and Missions 1,379 - - - - 1,379 -
Cultural Center of the Philippines 92 62 22 - - 8 -
Development Academy of the Philippines 54 54 - - - - -
National Kidney and Transplant Institute 9,492 1,607 2,639 584 714 3,947 -
People's Television Network, Inc. 32,455 64 251 678 - 1,141 30,321
Philippine Amusement and Gaming Corporation 874 874 - - - - -
Philippine Charity Sweepstakes Office 13,564 9,181 389 1,059 469 2,465 -
Philippine Children's Medical Center 1 1 - - - - -
Philippine Health Insurance Corporation 765 0 562 - - 202 -
Philippine Institute for Development Studies 51 51 - - - - -
123
Veterans Federation of the Philippines 2,869 2,151 199 114 - 406 -
Total 306,476 30,237 9,565 4,059 1,945 30,030 230,640

Schedule 12
Summary of Property, Plant and Equipment
TOTAL
(in thousand pesos)
Property, Plant and Equipment Accumulated Accumulated
Cost Depreciation Carrying Amount
Impairment Losses
PROPERTY, PLANT AND EQUIPMENT 1,719,948,765 (568,317,645) (943,292) 1,150,687,828
Land 313,167,973 - (1,199) 313,166,773
Land 313,167,973 - (1,199) 313,166,773
Land Improvements 71,921,174 (29,409,848) (16,169) 42,495,158
Land Improvements, Aquaculture Structures 39,418 (11,813) - 27,605
Land Improvements, Reforestation Projects 10,578 - (110) 10,468
Other Land Improvements 71,871,178 (29,398,034) (16,059) 42,457,085
Infrastructure Assets 397,754,934 (182,088,045) (39,979) 215,626,910
Road Networks 4,029,007 (2,827,209) - 1,201,799
Flood Control Systems 158,681 (52,037) - 106,645
Sewer Systems 790,471 (447,893) - 342,578
124
Water Supply Systems 111,309,304 (10,275,652) - 101,033,652

Power Supply Systems 106,907,282 (91,788,560) - 15,118,722
Communication Networks 116,758 (12,632) - 104,126
Seaport Systems 58,118,892 (24,727,557) (286) 33,391,050
Airport Systems 51,141,591 (27,890,617) - 23,250,974
Railway Systems 31,189,576 (9,093,310) - 22,096,267
Parks, Plazas and Monuments 285,535 (234,293) - 51,243
Plant-Utility Plant in Service (UPIS) 33,208,151 (14,546,408) (39,694) 18,622,050
Other Infrastructure Assets 499,684 (191,878) - 307,806
Buildings and Other Structures 153,756,504 (103,682,399) (651,768) 49,422,338
Buildings 73,209,587 (53,419,403) (597,646) 19,192,538
Hospitals and Health Centers 2,037,643 (839,151) - 1,198,492
Hostels and Dormitories 358,550 (254,682) - 103,868
Water Plant, Structure and Improvements 3,309,508 (1,173,516) (46,056) 2,089,936
Other Structures 74,841,217 (47,995,648) (8,065) 26,837,504
Machinery and Equipment 94,803,101 (57,184,122) (140,321) 37,478,658
Office Equipment 15,007,966 (10,115,959) (21,959) 4,870,048
Information and Communication Technology Equipment 18,770,833 (11,991,705) (6,636) 6,772,492
Agricultural and Forestry Equipment 958,069 (170,222) - 787,846
Airport Equipment 7,213,454 (4,546,177) - 2,667,277
Communication Equipment 4,124,164 (2,166,914) (37) 1,957,213
Schedule 12
TOTAL
(in thousand pesos)
Property, Plant and Equipment
Accumulated Accumulated
Impairment Losses
Construction and Heavy Equipment 1,704,842 (1,094,617) (4,292) 605,933
Disaster Response and Rescue Equipment 2,603,326 (1,368,144) (2) 1,235,180
Gaming Equipment 8,571,089 (7,548,064) - 1,023,025
Military, Police and Security Equipment 354,651 (204,302) - 150,349
Medical Equipment 5,223,962 (2,809,935) (120) 2,413,908
Printing Equipment 105,055 (30,471) - 74,584
Sports Equipment 31,160 (21,862) - 9,298
Technical and Scientific Equipment 5,315,441 (3,167,939) (106,419) 2,041,083
Kitchen Equipment 52 (27) - 25
Electrical Equipment 57,269 (31,602) - 25,666
Other Machinery and Equipment 24,761,769 (11,916,181) (856) 12,844,733
Transportation Equipment 20,657,296 (12,805,679) (9,378) 7,842,240
125
Motor Vehicles 9,663,901 (6,174,910) (9,378) 3,479,613

Trains 10,092,004 (5,826,926) - 4,265,078
Aircrafts and Aircrafts Ground Equipment 114,278 (82,402) - 31,876
Watercrafts 302,228 (274,291) - 27,938
Other Transportation Equipment 484,885 (447,150) - 37,735
Furniture, Fixtures and Books 9,108,948 (4,993,531) (82,020) 4,033,398
Furniture and Fixtures 9,048,333 (4,957,635) (82,020) 4,008,679
Books 60,615 (35,896) - 24,719
Leased Assets 772,706 (589,106) (958) 182,642
Leased Assets, Land 3,117 - (958) 2,160
Leased Assets, Buildings and Other Structures 71,350 (35,870) - 35,480
Leased Assets, Machinery and Equipment 208,389 (206,844) - 1,545
Leased Assets, Transportation Equipment 489,779 (346,330) - 143,450
Other Leased Assets 70 (63) - 7
Leased Assets Improvements 3,568,220 (2,019,187) (1,249) 1,547,785
Leased Assets Improvements, Land 609,403 (340,627) - 268,775
Leased Assets Improvements, Buildings 1,341,648 (988,649) - 352,998
Other Leased Assets Improvements 1,617,170 (689,910) (1,249) 926,011
Heritage Assets 719,391 (1,244) - 718,148
Historical Buildings 659,343 - - 659,343
Works of Arts and Archeological Specimens 57,506 - - 57,506
Schedule 12
TOTAL
(in thousand pesos)
Impairment Losses
Other Heritage Assets 2,542 (1,244) - 1,298
Service Concession Assets 433,640,498 (157,279,167) - 276,361,331
Service Concession-Road Networks 41,977,320 (5,801,487) - 36,175,834
Service Concession-Sewer Systems 289,392 (203,823) - 85,569
Service Concession-Water Supply Systems 1,371,760 (553,410) - 818,349
Service Concession-Power Supply Systems 284,282,513 (124,078,347) - 160,204,166
Service Concession-Communication Networks - - - -
Service Concession-Seaport Systems 18,956,886 (9,824,848) - 9,132,038
Service Concession-Airport Systems - - - -
Service Concession-Parks, Plazas and Monuments - - - -
Service Concession-Railway Systems 24,042,695 (11,377,598) - 12,665,098
Service Concession-Buildings and Other Structures 487,722 (228,763) - 258,958
126
Service Concession-Machinery and Equipment 5,147,054 (4,403,079) - 743,975

Service Concession-Transportation Equipment 10,202 (5,162) - 5,040
Service Concession-Furniture, Fixtures and Books 3,067 (926) - 2,141
Service Concession-Land 25,517,976 - - 25,517,976
Other Service Concession Assets 31,553,912 (801,725) - 30,752,187
Exploration and Evaluation Assets 16,710,796 (10,740,307) (204) 5,970,285
Other Exploration and Evaluation Assets 16,710,796 (10,740,307) (204) 5,970,285
Bearer Trees, Plants and Crops 74 - - 74
Other Property, Plant and Equipment 14,155,597 (7,525,011) (47) 6,630,539
Work/Zoo Animals 14,976 (7,572) - 7,404
Construction in Progress 189,211,551 - - 189,211,551
Construction in Progress-Land Improvements 851,268 - - 851,268
Construction in Progress-Infrastructure Assets 179,776,798 - - 179,776,798
Construction in Progress-Buildings and Other Structures 8,455,833 - - 8,455,833
Construction in Progress-Leased Assets 70,887 - - 70,887
Construction in Progress-Leased Assets Improvements 33,671 - - 33,671
Construction in Progress-Furniture and Fixtures 23,094 - - 23,094
Schedule 12
Cluster 1 - Banking and Credit
(in thousand pesos)
Impairment Losses
PROPERTY, PLANT AND EQUIPMENT 61,491,382 (26,388,603) (63,573) 35,039,206
Land 8,881,130 - - 8,881,130
Land 8,881,130 - - 8,881,130
Land Improvements 258,563 (120,701) - 137,862
Land Improvements, Aquaculture Structures - - - -
Land Improvements, Reforestation Projects - - - -
Other Land Improvements 258,563 (120,701) 137,862
Infrastructure Assets 8,436 (7,458) - 978
Road Networks - - - -
Flood Control Systems - - - -
Sewer Systems - - - -
127
Water Supply Systems - - - -

Power Supply Systems 8,436 (7,458) - 978
Communication Networks - - - -
Seaport Systems - - - -
Airport Systems - - - -
Railway Systems - - - -
Parks, Plazas and Monuments - - - -
Plant-Utility Plant in Service (UPIS) - - - -
Other Infrastructure Assets - - - -
Buildings 19,736,368 (10,756,388) (40,858) 8,939,122
Hospitals and Health Centers - - - -
Hostels and Dormitories - - - -
Water Plant, Structure and Improvements - - - -
Other Structures 26,246 (21,936) - 4,310
Office Equipment 3,958,133 (2,724,947) (11,833) 1,221,352
Agricultural and Forestry Equipment - - - -
Airport Equipment - - - -
Communication Equipment 17,155 (9,015) - 8,140
Schedule 12
(in thousand pesos)
Impairment Losses
Construction and Heavy Equipment 3,738 (2,868) - 870
Disaster Response and Rescue Equipment - - - -
Gaming Equipment - - - -
Medical Equipment 45 (45) - 0
Printing Equipment - - - -
Sports Equipment - - - -
Technical and Scientific Equipment 55,317 (34,316) - 21,001
Kitchen Equipment - - - -
Electrical Equipment - - - -
Other Machinery and Equipment 10,457,021 (3,339,674) 5,491 7,122,838
Transportation Equipment 1,868,041 (1,238,359) (7,988) 621,694
128
Motor Vehicles 1,868,041 (1,238,359) (7,988) 621,694

Trains - - - -
Aircrafts and Aircrafts Ground Equipment - - - -
Watercrafts - - - -
Other Transportation Equipment - - - -
Furniture, Fixtures and Books 5,022,264 (3,031,741) (2,611) 1,987,912
Furniture and Fixtures 4,993,175 (3,014,516) (2,611) 1,976,048
Books 29,089 (17,225) - 11,864
Leased Assets 487,268 (344,321) - 142,947
Leased Assets, Land - - - -
Leased Assets, Buildings and Other Structures 1,255 - - 1,255
Leased Assets, Machinery and Equipment - - - -
Other Leased Assets - - - -
Leased Assets Improvements 1,627,609 (700,797) (1,249) 925,563
Leased Assets Improvements, Land 4,109 (4,099) - 10
Leased Assets Improvements, Buildings 23,755 (15,418) - 8,336
Other Leased Assets Improvements 1,599,746 (681,279) (1,249) 917,218
Heritage Assets - - - -
Historical Buildings - - - -
Works of Arts and Archeological Specimens - - - -
Schedule 12
(in thousand pesos)
Impairment Losses
Other Heritage Assets - - - -
Service Concession Assets - - - -
Service Concession-Road Networks - - - -
Service Concession-Sewer Systems - - - -
Service Concession-Water Supply Systems - - - -
Service Concession-Power Supply Systems - - - -
Service Concession-Seaport Systems - - - -
Service Concession-Railway Systems - - - -
Service Concession-Buildings and Other Structures - - - -
129
Service Concession-Machinery and Equipment - - - -

Service Concession-Transportation Equipment - - - -
Service Concession-Furniture, Fixtures and Books - - - -
Service Concession-Land - - - -
Other Service Concession Assets - - - -
Exploration and Evaluation Assets - - - -
Other Exploration and Evaluation Assets - - - -
Bearer Trees, Plants and Crops - - - -
Other Property, Plant and Equipment 8,660 (7,609) - 1,051
Work/Zoo Animals - - - -
Construction in Progress-Land Improvements - - - -
Construction in Progress-Infrastructure Assets - - - -
Construction in Progress-Leased Assets - - - -
Construction in Progress-Leased Assets Improvements - - - -
Construction in Progress-Furniture and Fixtures - - - -
Schedule 12
Cluster 2 - Social Security Services and Housing
(in thousand pesos)
Impairment Losses
Land 21,329,006 - - 21,329,006
Land 21,329,006 - - 21,329,006
Land Improvements 286,777 (222,867) (1,137) 62,773
Other Land Improvements 286,777 (222,867) (1,137) 62,773
Infrastructure Assets - - - -
Road Networks - - - -
130
Water Supply Systems - - - -

Power Supply Systems - - - -
Buildings 9,183,954 (5,847,016) (108,934,119.40) 3,228,004
Office Equipment 1,847,987 (1,154,067) (9,855) 684,065
Schedule 12
(in thousand pesos)
Impairment Losses
Construction and Heavy Equipment 853 (716) - 137
Military, Police and Security Equipment - - - -
Medical Equipment 79,682 (48,769) - 30,914
Other Machinery and Equipment 100,816 (62,174) - 38,642
Transportation Equipment 909,349 (588,151) (943) 320,256
131
Motor Vehicles 909,349 (588,151) (943) 320,256

Trains - - - -
Watercrafts - - - -
Furniture, Fixtures and Books 510,719 (198,502) (78,797) 233,421
Furniture and Fixtures 507,759 (196,011) (78,797) 232,951
Books 2,961 (2,491) - 470
Leased Assets 9,803 (3,527) - 6,276
Leased Assets, Transportation Equipment - - - -
Leased Assets Improvements 408,452 (302,117) - 106,335
Other Leased Assets Improvements - - - -
Heritage Assets 659,343 - - 659,343
Historical Buildings 659,343 - - 659,343
Schedule 12
(in thousand pesos)
Impairment Losses
Service Concession Assets 34,815 (29,458) - 5,357
Service Concession-Water Supply Systems 34,815 (29,458) - 5,357
132

Construction in Progress 274,141 - - 274,141
Construction in Progress-Infrastructure Assets - - - -
Construction in Progress-Buildings and Other Structures 237,391 - - 237,391
Construction in Progress-Furniture and Fixtures - - - -
Schedule 12
Cluster 3 - Public Utilities
(in thousand pesos)
Impairment Losses
Land 145,749,951 - (1,199) 145,748,752
Land 145,749,951 - (1,199) 145,748,752
Land Improvements 1,270,787 (164,126) (110) 1,106,550
Land Improvements, Aquaculture Structures 39,418 (11,813) - 27,605
Land Improvements, Reforestation Projects 10,578 - (110) 10,468
Other Land Improvements 1,220,791 (152,313) (1) 1,068,477
Infrastructure Assets 236,902,400 (144,028,542) (39,979) 92,833,879
Road Networks 15,034 (7,216) - 7,818
Sewer Systems 168,421 (26,897) - 141,524
133

Seaport Systems 51,316,797 (23,130,537) (286) 28,185,974
Railway Systems 31,189,576 (9,093,310) - 22,096,267
Plant-Utility Plant in Service (UPIS) 33,208,151 (14,546,408) (39,694) 18,622,050
Buildings 3,573,041 (10,095,052) (198) (6,522,209)
Water Plant, Structure and Improvements 3,309,508 (1,173,516) (46,056) 2,089,936
Other Structures 68,543,986 (44,118,704) (7,510) 24,417,773
Office Equipment 3,802,269 (2,392,784) (271) 1,409,215
Information and Communication Technology Equipment 2,586,931 (1,682,368) (358) 904,205
Communication Equipment 939,787 (490,732) (46) 449,008
Schedule 12
(in thousand pesos)
Impairment Losses
Construction and Heavy Equipment 913,287 (593,303) (4,292) 315,692
Disaster Response and Rescue Equipment 33,035 (29,478) (2) 3,554
Medical Equipment 135,260 (100,021) (120) 35,119
Printing Equipment 647 (309) - 338
Technical and Scientific Equipment 2,728,536 (1,868,503) (250) 859,782
Electrical Equipment 56,196 (30,817) - 25,379
Other Machinery and Equipment 7,291,171 (4,268,059) (6,246) 3,016,866
Transportation Equipment 14,172,173 (8,464,378) (447) 5,707,348
134
Motor Vehicles 3,362,032 (1,950,765) (447) 1,410,820

Trains 10,092,004 (5,826,926) - 4,265,078
Watercrafts 285,760 (261,509) - 24,251
Furniture, Fixtures and Books 1,377,569 (446,969) (611) 929,989
Furniture and Fixtures 1,369,429 (440,596) (611) 928,222
Books 8,141 (6,373) - 1,768
Leased Assets 235,926 (227,443) (958) 7,524
Leased Assets, Land 3,117 - (958) 2,160
Leased Assets, Machinery and Equipment 208,389 (206,844) - 1,545
Other Leased Assets 70 (63) - 7
Other Leased Assets Improvements 9,564 (2,385) - 7,179
Heritage Assets 2,542 (1,244) - 1,298
Schedule 12
(in thousand pesos)
Impairment Losses
Other Heritage Assets 2,542 (1,244) - 1,298
Service Concession-Sewer Systems 195 - - 195
Service Concession-Power Supply Systems 284,282,513 (124,078,347) - 160,204,166
Service Concession-Seaport Systems 18,956,886 (9,824,848) - 9,132,038
Service Concession-Railway Systems 24,042,695 (11,377,598) - 12,665,098
Service Concession-Buildings and Other Structures 487,722 (228,763) - 258,958
135
Service Concession-Machinery and Equipment 5,147,054 (4,403,079) - 743,975

Service Concession-Transportation Equipment 10,202 (5,162) - 5,040
Service Concession-Furniture, Fixtures and Books 3,067 (926) - 2,141
Service Concession-Land 25,517,976 - - 25,517,976
Exploration and Evaluation Assets 16,596,758 (10,740,307) - 5,856,451
Other Exploration and Evaluation Assets 16,596,758 (10,740,307) - 5,856,451
Work/Zoo Animals 80 - - 80
Construction in Progress-Leased Assets 244 - - 244
Schedule 12
Cluster 4 - Industrial and Area Development

(in thousand pesos)
Impairment Losses
Land 114,898,338 - - 114,898,338
Land 114,898,338 - - 114,898,338
Land Improvements 36,316,112 (15,355,427) (14,921) 20,945,764
Other Land Improvements 36,316,112 (15,355,427) (14,921) 20,945,764
Infrastructure Assets 66,162,035 (35,108,942) - 31,053,093
Road Networks 3,791,766 (2,815,860) - 975,906
Sewer Systems 622,050 (420,997) - 201,054
136
Water Supply Systems 643,828 (500,671) - 143,157

Seaport Systems 5,997,093 (1,420,710) - 4,576,382
Airport Systems 51,141,591 (27,890,617) - 23,250,974
Parks, Plazas and Monuments 285,535 (234,293) - 51,243
Buildings and Other Structures 36,781,313 (26,176,077) (555) 10,604,680
Buildings 30,851,009 (22,387,445) - 8,463,564
Hostels and Dormitories 358,550 (254,682) - 103,868
Other Structures 5,571,754 (3,533,950) (555) 2,037,248
Machinery and Equipment 19,994,480 (12,223,531) (101) 7,770,848
Office Equipment 3,231,438 (2,483,077) - 748,361
Information and Communication Technology Equipment 1,398,321 (876,692) - 521,628
Agricultural and Forestry Equipment 6,502 (6,347) - 154
Airport Equipment 7,213,454 (4,546,177) - 2,667,277
Communication Equipment 1,559,143 (718,634) - 840,509
Schedule 12
(in thousand pesos)
Impairment Losses
Construction and Heavy Equipment 129,119 (86,644) - 42,475
Disaster Response and Rescue Equipment 2,557,050 (1,328,701) - 1,228,350
Printing Equipment 191 (126) - 65
Electrical Equipment 45 (5) - 40
Other Machinery and Equipment 3,628,102 (2,044,302) (101) 1,583,699
Transportation Equipment 1,455,861 (956,961) - 498,900
137
Motor Vehicles 1,324,633 (862,828) - 461,805

Trains - - - -
Aircrafts and Aircrafts Ground Equipment 114,278 (82,402) - 31,876
Watercrafts 13,148 (10,838) - 2,310
Other Transportation Equipment 3,802 (892) - 2,910
Furniture, Fixtures and Books 1,268,803 (839,715) - 429,088
Furniture and Fixtures 1,261,433 (834,594) - 426,839
Books 7,370 (5,122) - 2,248
Leased Assets 38,916 (13,814) - 25,102
Other Leased Assets Improvements - - - -
Schedule 12

(in thousand pesos)
Impairment Losses
Service Concession-Road Networks 41,977,320 (5,801,487) - 36,175,834
Service Concession-Sewer Systems 289,197 (203,823) - 85,373
138

Other Property, Plant and Equipment 1,132,014 (589,562) - 542,451
Work/Zoo Animals 14,347 (7,572) - 6,775
Construction in Progress-Leased Assets 70,643 - - 70,643
Construction in Progress-Furniture and Fixtures 303 - - 303
Schedule 12
Cluster 5 - Agricultural and Natural Resources
(in thousand pesos)
Impairment Losses
PROPERTY, PLANT AND EQUIPMENT 305,194,673 (24,905,279) (204) 280,289,190
Land 12,347,695 - - 12,347,695
Land 12,347,695 - - 12,347,695
Land Improvements 33,607,673 (13,422,812) - 20,184,861
Other Land Improvements 33,607,673 (13,422,812) - 20,184,861
Infrastructure Assets 94,559,914 (2,934,150) - 91,625,764
Road Networks 188,916 (40) - 188,876
139

Power Supply Systems 170,243 (89,786) - 80,458
Seaport Systems 805,003 (176,310) - 628,693
Buildings and Other Structures 6,123,535 (2,912,606) - 3,210,929
Buildings 5,551,267 (2,676,491) - 2,874,776
Machinery and Equipment 7,013,842 (3,915,061) - 3,098,781
Office Equipment 602,175 (341,709) - 260,466
Information and Communication Technology Equipment 922,598 (557,098) - 365,499
Schedule 12
(in thousand pesos)
Impairment Losses
Construction and Heavy Equipment 657,845 (411,087) - 246,758
Disaster Response and Rescue Equipment 13,242 (9,965) - 3,276
Sports Equipment 1,830 (943) - 887
Technical and Scientific Equipment 1,050,008 (629,523) - 420,485
Electrical Equipment 1,028 (780) - 248
Other Machinery and Equipment 2,657,553 (1,717,650) - 939,903
140
Motor Vehicles 1,191,251 (867,892) - 323,359

Trains - - - -
Watercrafts 3,321 (1,944) - 1,377
Furniture, Fixtures and Books 333,113 (174,235) - 158,878
Furniture and Fixtures 328,078 (172,990) - 155,088
Books 5,035 (1,245) - 3,790
Leased Assets - - - -
Leased Assets, Buildings and Other Structures - - - -
Other Leased Assets Improvements 1,830 (599) - 1,231
Heritage Assets 169 - - 169
Works of Arts and Archeological Specimens 169 - - 169
Schedule 12
(in thousand pesos)
Impairment Losses
Service Concession Assets 95 - - 95
141

Other Service Concession Assets 95 - - 95
Exploration and Evaluation Assets 114,038 - (204) 113,834
Other Exploration and Evaluation Assets 114,038 - (204) 113,834
Work/Zoo Animals 549 - - 549
Schedule 12
Cluster 6 - Social, Cultural, Trading, Promotional and Other Services
(in thousand pesos)
Impairment Losses
Land 9,961,852 - - 9,961,852
Land 9,961,852 - - 9,961,852
Land Improvements 181,263 (123,915) - 57,348
Other Land Improvements 181,263 (123,915) - 57,348
Infrastructure Assets 122,149 (8,952) - 113,196
Road Networks 33,292 (4,092,141.29) - 29,200
142
Water Supply Systems 4,189 (4,189) - 0

Power Supply Systems 1,036 (642) - 395
Communication Networks 83,528 - - 83,528
Other Infrastructure Assets 104 (30) - 75
Buildings 4,313,947 (1,657,012) (447,656) 2,209,279
Hospitals and Health Centers 2,037,643 (839,151) - 1,198,492
Office Equipment 1,565,963 (1,019,374) - 546,589
Information and Communication Technology Equipment 2,564,122 (1,400,433) (1) 1,163,688
Communication Equipment 1,449,620 (854,841) 9 594,789
Schedule 12
(in thousand pesos)
Impairment Losses
Construction and Heavy Equipment - - - -
Gaming Equipment 8,571,089 (7,548,064) - 1,023,025
Medical Equipment 4,948,743 (2,633,184) - 2,315,558
Printing Equipment 104,217 (30,036) - 74,180
Sports Equipment 1,604 (695) - 909
Technical and Scientific Equipment 1,348,250 (554,377) (106,169) 687,705
Other Machinery and Equipment 627,106 (484,322) - 142,785
143
Motor Vehicles 1,008,595 (666,915) - 341,680

Trains - - - -
Watercrafts - - - -
Furniture, Fixtures and Books 596,480 (302,369) - 294,111
Furniture and Fixtures 588,460 (298,929) - 289,531
Books 8,020 (3,440) - 4,580
Leased Assets 793 - - 793
Leased Assets, Buildings and Other Structures 793 - - 793
Other Leased Assets Improvements 6,031 (5,647) - 384
Schedule 12
(in thousand pesos)
Impairment Losses
Service Concession Assets - - - -
144

Construction in Progress-Land Improvements - - - -
Construction in Progress-Infrastructure Assets 381 - - 381
Construction in Progress-Furniture and Fixtures 140 - - 140
Schedule 13
Aging of Accounts Payable

(in thousand pesos)
Amount Due
No Aging
Cluster 1 - Banking and Credit 30,376,456 24,253,399 2,122,129 2,039,824 411,832 1,439,351 109,922
Al-Amanah Islamic Investment Bank of the Philippines 2,427 1,796 547 45 35 3 -
Center, Inc.) 4,848,023 2,299,694 289,823 1,265,991 118,218 780,643 93,654
DBP Data Center, Inc. 80,377 41,916 27,918 6,401 1,191 2,950 -
DBP Leasing Corporation 14,453 10,326 3,006 425 288 408 -
Development Bank of the Philippines 2,537,816 2,173,701 144,726 89,234 38,493 91,661 -
Land Bank of the Philippines 22,683,310 19,620,619 1,582,788 673,202 251,555 555,146 -
145
LBP Insurance Brokerage, Inc. 47,105 28,131 12,151 3,490 1,539 1,793 -
LBP Leasing and Finance Corporation 14,523 14,523 - - - - -
Land Bank Resources and Development Corporation 9,802 2,535 431 939 61 4,787 1,049
Masaganang Sakahan, Inc. 31,044 - 29,358 - 3 1,683 -
Philippine Deposit Insurance Corporation 63,667 47,551 378 72 447 - 15,219
Credit Information Corporation 10,450 10,450 - - - - -
Landbank Countryside Development Foundation, Inc. 2,366 2,156 - - - 210 -
Northern Foods Corporation 31,092 - 31,002 23 - 67 -
Cluster 2 - Social Security Services and Housing 55,625,570 20,676,534 8,319,452 9,588,215 11,100,845 5,919,296 21,229
AFP Retirement and Separation Benefits System 3,644,196 150 2,060 2,576,203 - 1,065,783 -
Government Service Insurance System 6,200,671 693,567 1,152,845 1,511,761 284,137 2,558,360 -
Home Development Mutual Fund 35,101,934 17,276,677 5,557,255 4,317,180 7,395,619 555,203 -
National Home Mortgage Finance Corporation 269,902 83,827 61,307 37,610 14,155 73,002 -
Small Business Guarantee and Finance Corporation 61,246 40,017 - - - - 21,229
Social Housing Finance Corporation 1,164,729 213,010 951,719 - - - -
Social Security System 8,203,529 1,994,281 507,066 1,009,813 3,136,064 1,556,305 -
Trade and Investment Development Corporation of the Philippines 623,799 28,463 86,106 133,824 266,127 109,279 -
Schedule 13
Amount Due
No Aging
Employees’ Compensation Commission 28,587 25,904 1,093 - 225 1,364 -
National Housing Authority 326,978 320,637 - 1,823 4,517 - -
Cluster 3 - Public Utilities 20,185,134 12,429,930 2,790,215 1,138,309 717,386 2,855,505 253,787
APO Production Unit, Inc. 541,021 523,709 (12,377) 26,617 3,073 - -
Cebu Port Authority 59,503 46,414 12,999 - 90 - -
Light Rail Transit Authority 307,100 53,795 - - - 253,305 -
Local Water Utilities Administration 27,065 27,065 - - - - -
Metropolitan Waterworks and Sewerage System 573,801 61,811 - 35,973 - 476,017 -
National Electrification Administration 30,964 23,659 - 6,664 366 275 -
National Power Corporation 7,066,136 5,829,813 278,227 142,870 260,124 555,103 -
Philippine National Oil Company 5,648 5,500 116 32 - - -
PNOC Alternative Fuels Corporation 16,001 14,315 - 288 1,398 - -
146
PNOC Development and Management Corporation 79 79 - - - - -

PNOC Exploration Corporation 289,068 289,068 - - - - -
PNOC Renewables Corporation 10,968 3,417 6,853 698 - - -
PNOC Shipping and Transport Corporation 65,258 - - - - 65,258 -
Philippine National Railways 581,939 338,568 142,642 11,399 2,798 86,533 -
Philippine Ports Authority 3,577,904 2,686,252 290,305 142,250 172,116 286,981 -
Philippine Postal Corporation 1,555,231 868,721 79,769 380,498 25,753 200,490 -
Power Sector Assets and Liabilities Management Corporation 3,147,659 501,606 1,492,257 338,233 156,562 659,001 -
National Transmission Corporation 647,712 171,116 318,538 3,101 70,510 84,448 -
Water Districts 1,682,074 985,022 180,887 49,686 24,597 188,094 253,787
Cluster 4 - Industrial and Area Development 4,412,914 2,073,176 216,716 309,674 66,326 1,438,316 308,706
Aurora Pacific Economic Zone and Freeport Authority 5,771 809 206 157 67 4,531 -
Authority of the Freeport Area of Bataan 119,890 33,673 1,154 - - - 85,063
Bases Conversion and Development Authority 131,595 92,723 2,726 4,905 246 30,994 -
BCDA Management and Holdings, Inc. 8,969 1,005 - - - 7,964 -
Clark Development Corporation 456,672 283,389 22,438 122,391 - - 28,454
Schedule 13
Amount Due
No Aging
Subic-Clark Alliance for Development 240 240 - - - - -
Clark International Airport Corporation 87,053 49,506 23,437 4,482 2,696 6,931 -
John Hay Management Corporation 39,509 33,484 62 66 31 5,867 -
North Luzon Railways Corporation 3,967 3,570 - - - 397 -
Poro Point Management Corporation 6,514 3,520 1,674 1,056 262 3 -
Cagayan Economic Zone Authority 1,254 552 303 - 7 392 -
Northeastern Luzon Coastal Pacific Services, Inc. 6 6 - - - - -
Civil Aviation Authority of the Philippines 571,160 454,927 11,765 46,542 5,443 52,483 -
Laguna Lake Development Authority 59,507 26,198 136 22,818 704 9,650 -
Manila International Airport Authority 986,232 779,512 97,327 48,042 42,118 19,233 -
Mactan-Cebu Internationak Airport Authority 22,734 22,663 71 - - - -
National Development Company 25,242 11,722 288 12,609 - 623 -
Manila Gas Corporation 498 - - - - 498 -
147
Partido Development Administration 2,418 2,121 29 263 4 1 -

Philippine Economic Zone Authority 236,097 38,967 (5) 772 451 2,384 193,527
Philippine National Construction Corporation 14,680 12,150 - 1,754 776 - -
Philippine Reclamation Authority 1,331,233 51,364 - - - 1,279,869 -
PHIVIDEC Industrial Authority 86,700 21,329 31,825 30,304 2,950 292 -
Subic Bay Metropolitan Authority 21,797 - 21,797 - - - -
Tourism Infrastructure and Enterprise Zone Authority 185,534 145,499 1,439 13,230 10,090 15,276 -
Corregidor Foundation, Inc. 1,154 1,110 44 - - - -
Zamboanga City Special Economic Zone Authority 4,825 3,137 - 280 483 926 -
Marawi Resort Hotel 94 - - - - - 94
Philippine Aerospace Development Corporation 1,568 - - - - - 1,568
Cluster 5 - Agricultural and Natural Resources 21,029,660 6,424,959 1,451,454 119,688 79,709 633,935 12,319,915
National Food Authority 5,588,402 5,381,814 83,106 31,247 6,892 85,342 -
Food Terminal, Inc. 18,042 13,773 - 3,580 - 689 -
National Irrigation Administration 12,319,915 - - - - - 12,319,915
Philippine Coconut Authority 723,968 456,535 44,687 50,666 63,906 108,174 -
Sugar Regulatory Administration 39,713 38,168 1,489 - 13 42 -
Schedule 13
Amount Due
No Aging
Philippine Sugar Corporation 660 660 - - - - -
Philippine Fisheries Development Authority 42,278 33,973 6,761 290 1,058 196 -
National Dairy Authority 26,526 18,558 305 801 5,835 1,027 -
National Tobacco Administration 54,217 19,826 - 32,093 - 2,297 -
Human Settlements Development Corporation 5,115 4,086 - - - 1,029 -
Philippine Mining Development Corporation 10,745 10,726 3 - - 16 -
Natural Resources Development Corporation 44,611 3,998 4,058 3,685 1,411 31,459 -
Philippine Crop Insurance Corporation 1,446,271 154,248 1,292,023 - - - -
Quedan and Rural Credit Guarantee Corporation 324,081 - - - - 324,081 -
Philippine Rice Research Institute 385,117 288,594 19,022 (2,675) 595 79,581 -
Cluster 6 - Social, Cultural, Trading, Promotional and Other Services 14,838,892 8,209,377 1,975,549 1,444,705 2,308,229 687,952 213,080
Philippine Charity Sweepstakes Office
148
7,752,555 3,815,833 1,236,160 452,377 1,642,051 469,557 136,577

Philippine Amusement and Gaming Corporation 1,575,995 1,465,125 55,928 11,716 4,581 38,645 -
Lung Center of the Philippines 94,443 79,719 4,695 1,773 3,481 4,776 -
National Kidney and Transplant Institute 1,071,250 588,679 81,314 273,684 46,325 81,248 -
Philippine Children's Medical Center 669,489 77,209 119,268 8,529 457,251 7,232 -
Philippine Heart Center 1,024,279 556,574 287,234 91,881 68,969 19,621 -
Boy Scouts of the Philippines 30,304 6,049 22,125 2 1 2,127 -
Philippine Retirement Authority 73,098 57,431 939 8,209 1,345 5,173 -
Veterans Federation of the Philippines 4,485 3,613 - - - 872 -
Center for International Trade Expositions and Missions 45,053 27,332 1,163 4,552 4,588 7,418 -
Philippine International Trading Corporation 1,325 - - - - 1,325 -
Philippine Pharma Procurement, Inc 46,811 13,922 21,581 4,539 1,743 5,027 -
Philippine Health Insurance Corporation 1,908,748 1,289,283 36,561 554,920 24,343 3,642 -
Cultural Center of the Philippines 177,077 12,273 92,493 17,478 42,709 12,124 -
Development Academy of the Philippines 86,214 71,206 1,128 2,512 9,069 2,298 -
Intercontinental Broadcasting Corporation 148,219 44,315 - 4,074 110 23,216 76,504
People's Television Network, Inc. 70,650 70,603 25 21 - - -
Philippine Center for Economic Development 2,330 - 689 - 1,641 - -
Schedule 13
Amount Due
No Aging
Philippine Institute for Development Studies 1,587 1,587 - - - - -
Philippine Institute of Traditional and Alternative Health Care 54,980 28,622 14,246 8,440 22 3,651 -
Total 146,468,626 74,067,376 16,875,515 14,640,415 14,684,326 12,974,354 13,226,639

149
Schedule 14
Inter-Agency Payables
(in thousand pesos)
Due to
Due to Pag- Due to
Name of Government Corporations Due to BIR Due to GSIS Due to NGAs Government Due to LGUs
IBIG PhilHealth
Corporations
Cluster 1 - Banking and Credit 2,138,545 176,332 3,698 1,147 793 2,066 -
Al-Amanah Islamic Investment Bank of the Philippines 448 599 81 49 - - -
International Convention Center, Inc.) 1,620,683 - - - - - -
Credit Information Corporation 5,358 382 13 26 - - -
DBP Data Center, Inc. 7,511 - 52 50 - - -
DBP Leasing Corporation 3,201 - 21 15 - - -
Development Bank of the Philippines 147,552 - - - - - -
Land Bank of the Philippines 311,520 164,880 2,527 - - 1,879 -
150
Land Bank Resources and Development Corporation 1,912 - 674 325 - - -

Landbank Countryside Development Foundation, Inc. 152 - 12 16 - - -
LBP Insurance Brokerage, Inc. 521 - - - - - -
LBP Leasing and Finance Corporation 10,114 - 37 36 - - -
Masaganang Sakahan, Inc. 192 - - - - - -
Northern Foods Corporation 1,927 - 13 43 793 187 -
Philippine Deposit Insurance Corporation 27,453 10,471 267 586 - - -
Cluster 2 - Social Security and Housing 184,113 107,381 11,490 9,497 8,260,650 64,971 68,599
AFP Retirement and Separation Benefits System 4,004 - 131 - - - -
Employees’ Compensation Commission 1,731 12 21 18 3 - -
Government Service Insurance System 4,478 - - - - - 864
Home Development Mutual Fund 63,346 16,610 3,165 1,232 5,550 -
Home Guaranty Corporation 2,202 1,642 1,290 111 7,041,715 9,669 -
National Home Mortgage Finance Corporation 6,285 2,483 97 104 462,258 - -
National Housing Authority 19,376 13,271 1,476 1,357 - 49,752 67,734
Palacio Del Gobernador Condominium Corporation 302 - 6 - - - -
Small Business Guarantee and Finance Corporation 9,375 18 83 83 756,656 - -
Social Housing Finance Corporation 5,468 - 188 117 - - -
Social Security System 61,410 72,227 4,876 6,397 - - 0
Schedule 14
(in thousand pesos)
Due to
Due to Pag- Due to
IBIG PhilHealth
Corporations
Southern Utilities Management Services, Inc. (15) - 59 8 - - -

Trade and Investment Development Corporation of the
Philippines 6,151 1,117 98 70 18 - -
Cluster 3 - Public Utilities 1,480,565 239,668 57,282 21,819 2,276,665 7,045,733 846,736
APO Production Unit, Inc. 17,548 - 123 13 - 21 -
Cebu Port Authority 15,386 166 97 2 - - -
Light Rail Transit Authority 27,706 6,212 906 569 - - 676,863
Local Water Utilities Administration 4,535 - - - (467) 22,880 -
Metropolitan Waterworks & Sewerage System 21,553 1,187 60 0 - 1 -
151
National Electrification Administration 2,285 2,310 334 130 - - -

National Power Corporation 177,788 25,560 714 90 - 10,105 17,244
National Transmission Corporation 81,939 12,912 2,427 1,129 183,703 5,098,071 2,620
Panay Railways, Inc. 7 - 3 2 - - -
Philippine National Oil Company 6,668 1,364 69 103 - - -
Philippine National Railways 40,385 4,348 394 4,736 1,493,903 18,006 50,256
Philippine Ports Authority 128,188 777 232 56 178 2,684 280
Philippine Postal Corporation 7,828 47,882 23,427 6,324 563,313 - -
PNOC Alternative Fuels Corporation 1,128 - - - - 2,487 -
PNOC Development and Management Corporation 17 - - - - - -
PNOC Exploration Corporation 4,143 - - - - - -
PNOC Renewables Corporation 665 - 3 45 - - -
PNOC Shipping and Transport Corporation 825 - - - - - -
Corporation 711,735 6,764 97 252 - 1,805,162 -
Water Districts 230,238 130,186 28,396 8,369 36,036 86,317 99,472
Schedule 14
(in thousand pesos)
Due to
Due to Pag- Due to
IBIG PhilHealth
Corporations
Cluster 4 - Industrial and Area Development 1,158,686 75,878 17,261 6,437 15,524,607 3,973,407 333,030
Alabang Sto. Tomas Development, Inc. 2 - 2 1 - - -
Aurora Pacific Economic Zone Authority and Freeport
Authority 2,296 174 7 39 - - -
Authority of the Freeport Area of Bataan 2,611 24 6 2 - 19,045 -
Bases Conversion and Development Authority 22,207 (1) 0 0 1,656,684 516 3,790
Batangas Land Company, Inc. 5,953 - 1 2 - - -
BCDA Management and Holdings, Inc. 11 - - - 12,019 - -
Cagayan Economic Zone Authority 2,769 131 64 3 - - -
Civil Aviation Authority of the Philippines 76,131 24,982 5,097 1,989 180,442 2 16
152
Clark Development Corporation 15,281 593 541 - 49,409 8,716

Clark International Airport Corporation 2,316 337 142 - 2,994,533 -
Corregidor Foundation, Inc. 300 - 13 5 - - -
DISC Contractors Builders and General Services, Inc. - 1 - - - -
First Cavite Industrial Estate Inc. 1 - - - - 12,672 -
GY Realty Estate, Inc. 62 - - - - - -
Inter-Island Gas Services, Inc. - - - - - -
John Hay Management Corporation 1,054 - 114 60 - - -
Kamayan Realty Corporation 609 - - - - - -
Laguna Lake Development Authority 1,558 985 56 94 5,708 24,174
Mactan-Cebu International Airport Authority 6,811 2,499 209 207 (2,565) - -
Manila Gas Corporation 57 - - - - - -
Manila International Airport Authority 806,192 16,374 1,880 1,710 59,632 - -
Marawi Resort Hotels, Inc. - - 31 32 - - -
National Development Company 6,883 121 14 4 - - -
North Luzon Railways Corporation 451 - 64 42 12,524,588 - -
Partido Development Administration 314 687 225 48 31,798 48 1,336
PEA Tollway Corporation 141 - 169 30 - 1
Philippine Aerospace Development Corporation 72 249 38 15 - - -
Philippine Economic Zone Authority 12,466 3,403 318 155 39,751 2,154
Schedule 14
(in thousand pesos)
Due to
Due to Pag- Due to
IBIG PhilHealth
Corporations
Philippine National Construction Corporation 550 - 170 99 - - -

Philippine Reclamation Authority 2,735 2,071 112 144 - - -
PHIVIDEC Industrial Authority 113,939 1,078 3,539 (213) 2,424 - -
Pinagkaisa Realty Corporation 231 - - - - - -
Poro Point Management Corporation 643 - 113 4 - - -
Southern Philippines Development Authority 2,020 407 79 107 12,035 - -
Subic Bay Metropolitan Authority 58,518 16,096 3,244 529 1,530 803 290,216
Subic-Clark Alliance for Development 35 (0) 7 - - -
Tourism Infrastructure and Enterprise Zone Authority 12,485 4,975 513 417 1,040,312 856,626 2,629
Zamboanga City Special Economic Zone Authority 981 1,622 253 220 - - -
153
Cluster 5 - Agricultural and Natural Resources 496,677 113,543 11,895 10,550 16,534,292 452,175 101,225
Food Terminal, Inc. 414 - 36 11 - - -
Human Settlements Development Corporation 238 - - - 20,068 - -
National Dairy Authority 1,875 80 9 17 30,206 80 463
National Food Authority 25,538 72,460 1,039 500 1,675,869 53,891 13,909
National Irrigation Administration 423,661 30,112 9,161 9,179 13,730,040 306,142 27,270
National Tobacco Administration 3,193 2,184 248 63 - -
Natural Resources Development Corporation 2,727 30 40 10 4,298 76 13,343
Philippine Coconut Authority 7,125 974 243 282 35,767 822 27,360
Philippine Crop Insurance Corporation 3,352 1,851 211 158 659 - 13,759
Philippine Fisheries Development Authority 6,809 2,364 253 98 545,019 137 5,066
Philippine Mining Development Corporation 599 - 53 37 - - -
Philippine Rice Research Institute 10,500 2,314 249 91 402,442 12,896 55
Philippine Sugar Corporation 349 - - - - - -
Quedan and Rural Credit Guarantee Corporation 7,678 263 303 (18) 77,468 78,132 -
Sugar Regulatory Administration 2,619 911 49 123 12,455 - -
Schedule 14
(in thousand pesos)
Due to
Due to Pag- Due to
IBIG PhilHealth
Corporations
Cluster 6 - Social, Cultural, Trading, Promotional

and Other Services 4,634,208 124,328 16,652 25,746 13,226,669 13,460 45
Boy Scouts of the Philippines 1,154 (14) 122 (2) - - -
Center for International Trade Expositions and 1,865 842 94 46 23,411 150 -
MissionsCenter of the Philippines
Cultural 2,790 3,109 396 218 - - -
Development Academy of the Philippines 5,585 5,762 230 564 469,570 - -
Intercontinental Broadcasting Corporation 284,422 - (200) 3,048 - - -
Lung Center of the Philippines 14,894 6,062 598 202 56,363 283 -
National Kidney and Transplant Institute 10,839 2,508 719 432 - 9 -
154
People's Television Network, Inc. 179,956 7,545 224 6,678 - - -

Philippine Amusement and Gaming Corporation 3,194,908 - 6,444 3,703 11,777,761 6,373 -
Philippine Center for Economic Development 19 23 14 2 1,362 - -
Philippine Charity Sweepstakes Office 672,956 15,856 1,099 2,032 19,814 446 -
Philippine Children's Medical Center 5,242 636 942 11 543,922 1 -
Philippine Health Insurance Corporation 160,997 60,763 4,146 6,711 10,544 751 45
Philippine Heart Center 22,660 17,207 1,294 1,868 21,808 615 -
Philippine Institute for Development Studies 3,933 608 - 0 29,443 - -
Philippine Institute of Traditional and Alternative
Health Care 704 781 63 38 1,730 - -
Philippine International Trading Corporation 18,870 884 305 52 15,016 3 -
Philippine Pharma Procurement, Inc 1,128 69 19 14,100 - -
Philippine Retirement Authority 46,512 1,757 55 123 630 - -
Tourism Promotions Board - 241,196 4,829 -
Veterans Federation of the Philippines 4,773 - 38 1 - - -
Total 10,092,793 837,131 118,279 75,196 55,823,676 11,551,812 1,349,635

Schedule 14
(in thousand pesos)
Due to
Subsidiaries/Joint Due to Treasurer of Due to Parent Value Added Income Tax
Name of Government Corporations Due to SSS Total
Venture/Associates/A the Philippines Corporations Tax Payable Payable
ffiliates
Cluster 1 - Banking and Credit - 338,904 7,595 1,523 1,133 444,698 3,116,434
Al-Amanah Islamic Investment Bank of the Philippines - 1,065 - - - - 2,242
International Convention Center, Inc.) - - - - - - 1,620,683
Credit Information Corporation - - - - - - 5,780
DBP Data Center, Inc. - - - 90 - - 7,703
DBP Leasing Corporation - - - 66 - 3,761 7,065
Development Bank of the Philippines - 31,863 - - - - 179,415
Land Bank of the Philippines - 305,976 - - - 421,877 1,208,659
155
Land Bank Resources and Development Corporation - - 7,595 1,149 - 7,472 19,127
Landbank Countryside Development Foundation, Inc. - - - 40 - - 220
LBP Insurance Brokerage, Inc. - - - - 1,133 7,526 9,180
LBP Leasing and Finance Corporation - - - 24 - 4,063 14,274
Masaganang Sakahan, Inc. - - - - - - 192
Northern Foods Corporation - - - 154 - - 3,117
Philippine Deposit Insurance Corporation - - - - - - 38,777
Cluster 2 - Social Security and Housing 179,643 2,056,479 19,447 5,235 189 186,308 11,154,001
AFP Retirement and Separation Benefits System 4,854 - - 16 - - 9,004
Employees’ Compensation Commission - - - - - 1,785
Government Service Insurance System - - - - - - 5,342
Home Development Mutual Fund - - - - - - 89,903
Home Guaranty Corporation - - - - - 181,341 7,237,972
National Home Mortgage Finance Corporation 59,290 - - - - 3,873 534,390
National Housing Authority 115,499 2,056,479 - - - - 2,324,945
Palacio Del Gobernador Condominium Corporation - - - 9 - - 316
Small Business Guarantee and Finance Corporation - - - - - - 766,216
Social Housing Finance Corporation - - 18,868 141 - - 24,782
Social Security System - - - 5,049 - - 149,959
Schedule 14
(in thousand pesos)
Due to
ffiliates
Southern Utilities Management Services, Inc. - - 579 20 189 1,093 1,932

Philippines - - - - - - 7,454
-
Cluster 3 - Public Utilities 102,534,967 126,066,262 1,341,202 1,591 276,887 2,364,615 244,553,993
APO Production Unit, Inc. 551,713 - - 303 260,572 - 830,293
Cebu Port Authority - 412,074 - - - 122,331 550,056
Light Rail Transit Authority - 43,805,876 - - - - 44,518,132
Local Water Utilities Administration - - - - - - 26,947
Metropolitan Waterworks & Sewerage System - 68,303 - - - - 91,104
156
National Electrification Administration - 17,397,643 - - - 70,067 17,472,769

National Power Corporation - - - - - 115,287 346,789
National Transmission Corporation - 170 - - - - 5,382,970
Panay Railways, Inc. 253 - - 3 - - 268
Philippine National Oil Company 29,675 - - - - 36,688 74,568
Philippine National Railways - 25,979,932 - - - - 27,591,959
Philippine Ports Authority - - - - - 501,894 634,288
Philippine Postal Corporation - - - - 15,955 - 664,728
PNOC Alternative Fuels Corporation 1,540 - 94 - - 4,351 9,600
PNOC Development and Management Corporation 235 - 149 - - 1,434 1,835
PNOC Exploration Corporation 15,663 - 2,740 - 66 933 23,546
PNOC Renewables Corporation - - 6,590 79 - - 7,381
PNOC Shipping and Transport Corporation - - 1,331,629 - - - 1,332,453
Corporation 101,931,071 38,402,165 - - - 1,404,155 144,261,399
Water Districts 4,816 100 - 1,206 294 107,476 732,906
Schedule 14
(in thousand pesos)
Due to
ffiliates
Cluster 4 - Industrial and Area Development 431,904 7,563,354 394,583 3,159 1,344 1,157,124 30,640,774
Alabang Sto. Tomas Development, Inc. - - - 5 - - 11
Aurora Pacific Economic Zone Authority and Freeport
Authority - - - - - - 2,516
Authority of the Freeport Area of Bataan - 231,583 - 4 - 10,284 263,558
Bases Conversion and Development Authority 225,755 4,898,431 - - - 73,141 6,880,523
Batangas Land Company, Inc. - - - 7 - - 5,963
BCDA Management and Holdings, Inc. - - - - - - 12,030
Cagayan Economic Zone Authority - 144,639 - - - 26,402 174,008
Civil Aviation Authority of the Philippines - - - - - 831,370 1,120,029
157
Clark Development Corporation - - - 1,416 - 13,075 89,031

Clark International Airport Corporation - - - 481 - 5,766 3,003,575
Corregidor Foundation, Inc. - - - 8 - - 326
DISC Contractors Builders and General Services, Inc. - - 50,484 6 - - 50,491
First Cavite Industrial Estate Inc. - - - - - - 12,673
GY Realty Estate, Inc. - - - - - - 62
Inter-Island Gas Services, Inc. - - 76,246 - - - 76,246
John Hay Management Corporation - - 17,576 153 - 3,627 22,584
Kamayan Realty Corporation - - - - - - 609
Laguna Lake Development Authority - - - - - - 32,575
Mactan-Cebu International Airport Authority - 558 - - - 44,250 51,969
Manila Gas Corporation - - - - - - 57
Manila International Airport Authority - 555,262 - - - - 1,441,051
Marawi Resort Hotels, Inc. - - - 78 - - 141
National Development Company - - - - - - 7,023
North Luzon Railways Corporation - - 250,041 116 - - 12,775,301
Partido Development Administration 1,041,139 - - - - 1,075,595
PEA Tollway Corporation 206,149 - 236 128 - - 206,854
Philippine Aerospace Development Corporation - 10,888 - - 1,344 7,648 20,253
Philippine Economic Zone Authority - - - - - 131,604 189,851
Schedule 14
(in thousand pesos)
Due to
ffiliates
Philippine National Construction Corporation 0 - - 443 - 7,138 8,400

Philippine Reclamation Authority - 3,243 - 231 - - 8,538
PHIVIDEC Industrial Authority - 677,611 - - - - 798,378
Pinagkaisa Realty Corporation - - - - - - 231
Poro Point Management Corporation - - - 24 - 2,820 3,605
Southern Philippines Development Authority - - - - - - 14,649
Subic Bay Metropolitan Authority - - 60 - - 370,995
Subic-Clark Alliance for Development - - - - - - 41
Tourism Infrastructure and Enterprise Zone Authority - - - - - - 1,917,956
Zamboanga City Special Economic Zone Authority - - - - - - 3,075
158
Cluster 5 - Agricultural and Natural Resources 2,037 111,815,850 - 110 7,514 99,479 129,645,347
Food Terminal, Inc. - - - 36 - 10,492 10,988
Human Settlements Development Corporation - - - - - - 20,307
National Dairy Authority 2,037 - - - - - 34,766
National Food Authority - 46,018,982 - - - - 47,862,189
National Irrigation Administration - 65,388,452 - - - - 79,924,017
National Tobacco Administration - - - - - - 5,687
Natural Resources Development Corporation - - - - - 18,009 38,532
Philippine Coconut Authority - - - 6 1,621 - 74,201
Philippine Crop Insurance Corporation - - - - - - 19,991
Philippine Fisheries Development Authority - 403,856 - - - - 963,602
Philippine Mining Development Corporation - - - 68 5,893 6,650
Philippine Rice Research Institute - - - - - - 428,547
Philippine Sugar Corporation - 4,559 - - - 513 5,420
Quedan and Rural Credit Guarantee Corporation - - - - - - 163,826
Sugar Regulatory Administration - - - - - 70,465 86,623
Schedule 14
(in thousand pesos)
Due to
ffiliates
Cluster 6 - Social, Cultural, Trading, Promotional

and Other Services 19,343 2,945,991 20,275 25,218 188,520 201,371 21,441,826
Boy Scouts of the Philippines - - - (255) 8,712 - 9,717
Center for International Trade Expositions and - - - - - - 26,408
MissionsCenter of the Philippines
Cultural - - - - - - 6,513
Development Academy of the Philippines - - - - - - 481,711
Intercontinental Broadcasting Corporation - - - 1,835 - - 289,105
Lung Center of the Philippines - - - 2 - - 78,404
National Kidney and Transplant Institute - - - - - - 14,507
159
People's Television Network, Inc. - - - - 179,808 7,619 381,831

Philippine Amusement and Gaming Corporation - 2,945,991 - 23,558 - 193,710 18,152,449
Philippine Center for Economic Development - - - - - - 1,419
Philippine Charity Sweepstakes Office - - - - - - 712,202
Philippine Children's Medical Center - - - - - - 550,753
Philippine Health Insurance Corporation - - - - - 243,958
Philippine Heart Center - - - - - - 65,452
Philippine Institute for Development Studies - - - - - - 33,985
Philippine Institute of Traditional and Alternative
Health Care - - - - - 42 3,358
Philippine International Trading Corporation - - - - - - 35,129
Philippine Pharma Procurement, Inc 19,343 - 20,275 82 - - 55,017
Philippine Retirement Authority - - - - - - 49,078
Tourism Promotions Board - - - - - - 246,025
Veterans Federation of the Philippines - - - (4) - - 4,808
-
Total 103,167,895 250,786,839 1,783,102 36,836 475,586 4,453,595 440,552,375
Schedule 15
Breakdown of Domestic Loans

CY 2018
(in thousand pesos)
Name of Government Corporations Source Amount
1 National Food Authority Development Bank of the Philippines 21,171,273

Land Bank of the Philippines 19,449,360
Interest Payable 240,262
Banco de Oro Unibank, Inc. 17,980,200
Bank of the Philippine Islands 9,450,000
China Banking Corporation 5,166,000
Development Bank of the Philippines 10,800,000
Metropolitan Bank and Trust Company 1,152,900
Mizuho Corporate Bank, Ltd. 270,900
Philippine National Bank 1,890,000
Corn Development Fund 4,500
DBP - Minprocor Properties 91,200
Human Settlements Development Corporation 509,094
Agrarian Credit Loan 205
Ministry of Agriculture and Food 121
Interest Payable 381,721 103,812,735
2 Power Sector Assets and Liabilities

Management Corporation Land Bank 7 Year Term Loan 38,000,000
DOE-Quarterly Assigned Petroleum Agreement/
NG Relending Facility 15,960,395 97,401,120
3 Philippine Deposit Insurance Bangko Sentral Ng Pilipinas 68,089,050

Corporation
4 National Home Mortgage Finance
Corporation Social Security System 22,651,477
Home Development Mutual Fund 3,173,429
Due to the Treasurer of the Philippines 472,370 26,297,276
5 Water Districts LWUA 8,731,333

Other Sources 9,759,854 18,491,188
6 National Irrigation Administration Asian Development Bank 2,829,469

International Bank for Reconstruction and
Development 3,107,554
Overseas Economic Cooperation Fund 266,584
Special Project Implementation Assistance Loan 156,480
National Development Company 975,000 7,335,086
7 Quedan and Rural Credit Guarantee

Corporation Department of Agriculture 2,084,218
Various banks-Multi Series Bond 1,418,753
Various banks-Corporate Notes 1,000,000
Agricultural Credit Policy Council 1,087,396
Department of Agrarian Reform 117,083
National Food Authority 34,555
National Dairy Authority 30,946
160
Schedule 15
Small Business Guarantee and Finance

Corporation 7,572
Others 395 5,780,918
12 Home Guaranty Corporation Issuance of debenture bonds 7,358

Guaranty obligations to SSS (inclusive of
interest) 4,875,669 4,883,028
13 Land Bank of the Philippines Bangko Sentral Ng Pilipinas 62,155

Citibank 2,629,000
Mizuho Corporate Bank Ltd. 1,577,400 4,268,555
14 Trade and Investment Development

Corporation of the Philippines 4,051,377
15 Development Bank of the Philippines Government Service Insurance System 135

NEDA IGLF 2,918,048 2,918,183
16 LBP Leasing and Finance Corporation Land Bank of the Philippines 1,642,766
Philippine National Bank 278,000
Bank of the Philippine Islands 500,000
Banco De Oro 396,000 2,816,766
17 DBP Leasing Corporation Bank of the Philippine Islands 636,625

Banco De Oro 30,769
Eastwest Bank 280,500
Metrobank 207,576
Philippine National Bank 322,000 1,477,470
18 National Development Company Bureau of Treasury 1,129,572

DOLE Philippines, Inc. 4,052 1,133,624
19 Small Business Guarantee and Finance Notes payable to various Financial Institutions
Corporation (mSME Notes) 868,842
Loans payable to International Fund for
Agriculture Development 25,432 894,274
20 Subic Bay Metropolitan Authority Land bank of the Philippines 567,864
21 Metropolitan Waterworks and Sewerage

System SPIAL 175,049
Asian Development Bank 1746 119,967
National Housing Authority 98,795
International Bank for Reconstruction &
Development 1272/1282 75,913 469,725
22 Local Water Utilities Administration Asian Development Bank 1056 39,809

IDA 920-PHI 11,949
OECF PH-P149 326,277 391,267
23 Light Rail Transit Authority Landbank of the Philippines 331,800
24 Clark International Airport Corporation Land Bank of the Philippines 258,446

Philippine Veterans Bank 42,192 300,638
161
Schedule 15
25 Philippine Pharma Procurement, Inc National Development Corporation 291,795
26 Northern Foods Corporation National Livelihood Development Corporation 62,781

Human Settlements Development Corporation 53,523
Quedan and Rural Credit Gurantee Corporation 19,888
Others 72,174 208,367
27 APO Production Unit, Inc. Philippine National Bank 85,868

PMO 8,650 94,518
28 National Tobacco Administration Philippine Deposit Insurance Corporation 78,729
29 International Broadcasting Corporation Bank of Commerce 75,000
30 National Dairy Authority Agricultural Credit and Policy Council 60,031
31 Social Housing Finance Corporation 58,547
32 Philippine Mining Development

Corporation National Development Company 58,308
33 Natural Resources Development Philippine National Oil Company - Energy

Corporation Development Corporation 58,001
34 Lung Center of the Philippines Land Bank of the Philippines 30,000
35 Panay Railways, Incorporated Various Loans 11,028
36 Boy Scouts of the Philippines Land Bank of the Philippines 7,910
37 Northeastern Luzon Coastal Pacific Development Bank of the Philippines 2,017

Services, Inc.
38 Manila International Airport Authority Land bank of the Philippines 854
Development Bank of the Philippines 854 1,709
Total 352,747,903
162
Schedule 16
Breakdown of Foreign Borrowings

CY 2018
(in thousand pesos)
1 Power Sector Assets and Liabilities Nomura Int'l/HSBC/Duetscge/DBP/Morgan

Management Corporation Stanley/UBS AG 151,447,657
International Development Association 55,448
Salomon Smith Barney $300M Yankee Bond 15,642,694
Asian Development Bank (ADB) 5,295 167,151,094
2 Development Bank of the Philippines Standard Chartered Bank, US 14,065,150

Bank of Montreal, Singapore 8,648,233
Mufg Bank Limited, Singapore 3,936,827
Zurcher Kantonal Bank 1,314,500
Dnb Bank Oslo 1,314,500
Standard Chartered Bank, London 4,973,528
ADB Credit For Better Health Care Program 935,897
IBRD Regional Infrastructure For Growth Project 4,142
IBRD Rural Power Project 236,933
IBRD Local Government Unit II 101,267
JBIC DBP 6 1,077,995
JICA Asian Japan Development Fund 1,757,745
JICA Domestic Shipping & Modernization
Program 6,343,958
JICA Environmental Development Project Non
Water 11,664,674
JICA Environmental Infrastructure Support Credit
Program 7,658,683
JICA Industrial & Support Services Expansion
Program I 14,786,673
JICA Logistics Infrastructure Development
Project 9,294,325
KfW Cottage Enterprise Finance Project 36,028
KfW Credit Line For Small & Medium Enterprise 1,090,383
KfW Credit Line For Solid Waste Management 375,553
KfW Industrial Pollution Control Loan Project 412,299
KfW Sustainable Health Care Investment 414,721
Program
KfW Industrial Pollution Control Loan 169,835
NDF Nordic Development Fund #5MM 34,806 90,648,655
3 Land Bank of the Philippines Asian Development Bank 492,588

International Fund for Agricultural Development
(IFAD) 57,814
Kredinstalt Fur Wiederaufbau (KfW) 1,640,554
Japan International Cooperation Agency (JICA) 12,266,377
International Bank for Reconstuction &
Development 12,530,950 26,988,283
4 Light Rail Transit Authority Japan Bank for International Coop loans 21,233,677
Belgian State Loan 114,403
Belgian Loan 282,684
Natexis Banque (Credit Nationale) 66,818 21,697,582
163
Schedule 16
5 Bases Conversion and Development

Authority Japan International Cooperation Agency 20,829,335
6 Metropolitan Waterworks and

Sewerage System Asian Development Bank 1379 936,340
JBIC-OECF 132,670
China Eximbank (AWUAP II) 4,647,614
French Protocol 22
Asian Development Bank 3377 1,768,252 7,484,898
7 Subic Bay Metropolitan Authority JBIC/OECF II 5,370,131

JBIC/OECF I 157,156 5,527,288
8 Philippine Ports Authority Japan Bank for International Cooperation Agency 3,813,073
9 PHIVIDEC Industrial Authority Relent Loans 2,519,590

NG Advances on PIA Loans/debt service 302,634
Other Receivables (Interest, FX risk cover fees,
etc.) 224,362 3,046,586
10 Local Water Utilities Administration Asian Development Bank 1472 385,091

OECF PH-P154 313,563
OECF PH-P181 838,559
Kreditanstatlt fur Weideraufbau PTWSP I & II 618,187
Kreditanstatlt fur Weideraufbau PTWSP III 313,851
French Protocol 18,951 2,813,188
11 Manila International Airport Authority Japan International Cooperation Agency -

formerly Overseas Economic Cooperation Fund
of Japan (OECF) 2,104,376
Natixis Banque (formerly Credit Nationale) -
French Loan 22,864 2,127,240
12 Philippine National Railways Japan Bank for International Coop PH-98 58,363
Japan Bank for International Coop PH-119 107,455
EDCF/Korea 1,210,819
KEXIM-II 121,756
RZB Austria 82,849 1,581,241
13 Small Business Corporation Loans payable to Asian Development Bank 405,718

(ADB)payable to Kreditanstalt for Wiederaufbau
Loans 632,527 1,038,245
14 National Power Corporation NATIXIS 607,732

BNP Paribas 23,532 631,265
15 National Irrigation Administration Asian Development Bank (ADB) 139,040

International Bank for Reconstruction and
Development 83,155
International Fund for Agricultural Development 49,059 271,254
16 Tourism Infrastructure and Enterprise

Zone Authority Japan International Cooperation Agency 220,926
164
Schedule 16
17 National Electrification Administration OECF PH-P138 43,787

Asian Development Bank 542 63,247 107,034
18 Philippine Economic Zone Authority Japan Bank for International Cooperation (JBIC) 93,471
19 National Food Authority 1995 Japanese Rice Loan 90,917
20 Bangko Sentral Ng Pilipinas BPD-Circular 1202 (EUR) 28,292
21 Authority of the Freeport Area of Japan International Cooperation Agency formerly

Bataan Overseas Economic Cooperation Fund of Japan
10,774
22 Water Districts LWUA 3,295
Total 356,203,937
165
Schedule 17
Income and Other Taxes Paid to National Government

(in thousand pesos)
Name of Government Corporations Taxes

Income Withholding Others Total
Cluster 1 - Banking and Credit 12,850,201 17,419,866 16,768,072 47,038,139

Al-Amanah Islamic Investment Bank of the Philippines 5,271 5,360 1,383 12,014
Bangko Sentral ng Pilipinas (with Philippine International
Convention Center, Inc.) 12,245,560 12,351,792 432,999 25,030,351
Credit Information Corporation 2,732 807 17,292 20,831
DBP Data Center, Inc. 1,209 4,720 3,323 9,252
DBP Leasing Corporation 20,796 5,445 12,440 38,681
Development Bank of the Philippines 487,771 1,151,535 2,097,806 3,737,112
Land Bank of the Philippines 629 3,666,026 11,225,862 14,892,517
LandBank Countryside Development Foundation, Inc. - 2,180 - 2,180
LBP Insurance Brokerage, Inc. 24,949 2,754 17,754 45,457
LBP Leasing & Finance Corporation 44,570 26,726 42,372 113,668
LBP Resources and Development Corporation 10,174 11,770 17,694 39,638
Masaganang Sakahan, Inc. 6,540 2,116 - 8,656
Northern Foods Corporation - 2,982 17,689 20,671
Overseas Filipino Bank, Inc. - 29,671 51,896 81,567
Philippine Deposit Insurance Corporation - 155,982 2,829,562 2,985,544
Cluster 2 - Social Security Services and Housing 1,152,477 2,258,720 142,345 3,553,542
AFP Retirement and Separation Benefits System - 9,208 - 9,208
Employees' Compensation Commission - 9,095 7,935 17,030
Government Service Insurance System - 671,940 28 671,968
Home Development Mutual Fund - 670,147 - 670,147
Home Guaranty Corporation 1,077,390 23,904 93 1,101,387
National Home Mortgage Finance Corporation 38,046 32,411 65,210 135,667
National Housing Authority - 107,913 - 107,913
Palacio del Gobernador Condominium Corporation - 3,932 - 3,932
Small Business Guarantee and Finance Corporation 11,353 64,565 710 76,627
Social Housing Finance Corporation 24,955 42,086 43,848 110,889
Social Security System 613,743 613,743
Southern Utility Management and Services, Inc. - 1,006 214 1,219
Philippines 733 8,771 24,308 33,812
Cluster 3 - Public Utilities 8,387,529 7,034,014 10,474,320 38,046,192

APO Production Unit 4,056 47,477 36,524 88,058
Cebu Port Authority 334,755 53,576 70,165 458,495
Light Rail Transit Authority - 104,294 46,452 150,745
Local Water Utilities Administration - 19,003 - 19,003
Metropolitan Waterworks and Sewerage System 6,478 245,018 - 251,495
National Electrification Administration 19,436 1,572 2,482 23,490
National Power Corporation 138,841 860,751 358,250 1,357,842
National Transmission Corporation 5,895 133,533 56,758 196,186
Panay Railways, Incorporated - 232 - 232
Philippine National Oil Company 53,202 79,183 11 132,395
Philippine National Railways 797,554 26,115 - 823,670
Philippine Ports Authority 4,376,727 787,217 804,455 5,968,399
166
Schedule 17

(in thousand pesos)

Philippine Postal Corporation 11,954 68,706 238,623 319,282

PNOC Alternative Fuels Corporation 10,596 14,337 1 24,934
PNOC Development and Management Corporation 10,949 1,005 1 11,955
PNOC Exploration Corporation 1,169,608 36,852 821 1,207,281
PNOC Renewables Corporation - 11,302 1 11,303
Power Sector Asset and Liabilities Management
Corporation 1,404,155 3,664,202 8,432,357 13,500,714
Water Districts 43,325 879,639 427,421 13,500,714
Cluster 4 - Industrial and Area Development 2,955,321 1,223,468 1,013,080 5,191,869

Alabang Sto. Tomas Development, Inc. - 16 - 16
Aurora Pacific Economic Zone and Freeport Authority - 5,770 - 5,770
Authority of the Freeport Area of Bataan 62,076 43,983 11,267 117,327
Bases Conversion and Development Authority - 138,820 106,840 245,660
Batangas Land Company, Inc. 2,568 309 1,985 4,862
BCDA Management and Holdings, Inc. - 45 - 45
Cagayan Economic Zone Authority 83,318 3,027 16,039 102,384
Civil Aviation Authority of the Philippines - 324,272 - 324,272
Clark Development Corporation 81,592 31,954 12,617 126,163
Clark International Airport Corporation 10,738 38,954 - 49,692
Corregidor Foundation , Inc. - 796 593 1,389
DISC Contractors Builders and General Services, Inc. 682 - 83 765
First Cavite Industrial Estate Inc. - 1 349 350
GY Realty Estate, Inc. 1,420 54 720 2,194
Inter-Island Gas Services, Inc. - - 17 17
John Hay Management Corporation 7,055 11,084 1 18,140
Kamayan Realty Corporation 2,092 24 1,218 3,334
Laguna Lake Development Authority 4,001 8,034 86 12,121
Mactan Cebu International Airport Authority 169,233 29,903 11,649 210,785
Manila Gas Corporation - 65 1 66
Manila International Airport Authority 1,498,559 379,936 607,590 2,486,085
National Development Company 113,022 6,546 36,504 156,072
North Luzon Railways Corporation - 2,993 603 3,596
Partido Development Administration 1,980 3,054 1,613 6,647
PEA Tollway Corporation - 1,067 1 1,068
Philippine Aerospace Development Corporation - 818 4,671 5,489
Philippine Economic Zone Authority 492,327 39,170 35,457 566,954
Philippine National Constructon Corporation 5,029 5,875 473 11,376
Philippine Reclamation Authority 180,521 18,002 1 198,524
PHIVIDEC Industrial Authority 134,532 5,563 55,958 196,053
Pinagkaisa Realty Corporation 394 12 237 643
Poro Point Management Corporation 4,857 7,685 - 12,542
Southern Philippines Development Authority - 2,096 3,644 5,740
Subic Bay Metropolitan Authority 99,325 6,610 48,056 153,991
Subic-Clark Alliance for Development - 575 - 575
Tourism Infrastructure and Enterprise Zone Authority - 99,405 54,787 154,192
Zamboanga City Special Economic Zone Authority - 6,951 20 6,971
167
Schedule 17

(in thousand pesos)

Cluster 5 - Agricultural and Natural Resources 98,246 1,396,449 437,111 1,931,806

National Food Authority - 370,036 299,077 669,114
Food Terminal, Inc. 53,012 4,386 33,814 91,212
National Irrigation Administration - 744,280 7,489 751,770
Philippine Coconut Authority - 52,978 7,355 60,333
Sugar Regulatory Administration 39,982 18,177 936 59,095
Philippine Sugar Corporation - 1,221 1,421 2,642
Philippine Fisheries Development Authority - 75,355 60,499 135,854
National Dairy Authority - 10,039 198 10,237
National Tobacco Administration - 19,033 632 19,666
Human Settlements Development Corporation 5,252 1,306 4,855 11,412
Philippine Mining Development Corporation - 6,148 11,959 18,106
Natural Resources Development Corporation - 2,189 7 2,196
Philippine Crop Insurance Corporation - 46,268 5,356 51,624
Quedan and Rural Credit Guarantee Corporation - 7,098 3,500 10,598
Philippine Rice Research Institute - 37,936 11 37,948
Cluster 6 - Social, Cultural, Trading, Promotional and

Other Services 1,508,268 5,179,950 23,315,555 30,003,773
Intercontinental Broadcasting Corporation - 133 - 133
Philippine Amusement and Gaming Corporation 95,777 558,201 10,870,254 11,524,232
Philippine Charity Sweepstakes Office 1,243,591 3,596,094 12,396,492 17,236,176
Philippine International Trading Corporation 1,156 102,355 11,298 114,809
Philippine Retirement Authority 167,575 24,658 11 192,244
Philippine Pharma Procurement, Inc - 7,526 - 7,526
Boy Scouts of the Philippines - 10,901 1,685 12,586
Center for International Trade Expositions and Missions - 13,880 118 13,999
Cultural Center of the Philippines - 30,341 - 30,341
Development Academy of the Philippines - 37,189 - 37,189
Lung Center of the Philippines - 42,145 - 42,145
National Kidney and Transplant Institute - 235,912 - 235,912
People's Television Network, Inc. - 78,913 - 78,913
Philippine Center for Economic Development 37 464 805 1,306
Philippine Children's Medical Center - 86,578 - 86,578
Philippine Heart Center - 315,337 - 315,337
Philippine Institute for Development Studies - 12,887 5,204 18,091
Philippine Institute of Traditional and Alternative Health
Care 133 8,722 37 8,892
Tourism Promotions Board - 15,433 263 15,696
Veterans Federation of the Philippines - 2,281 29,387 31,669
TOTAL 26,952,042 34,512,468 52,150,484 125,765,322
168
Schedule 18
Dividend Remittances to the National Government

(in thousand pesos)
Name of Government Corporations Amount
Cluster 1 - Banking and Credit 13,611,387

Philippine Deposit Insurance Corporation 8,844,299
Bangko Sentral ng Pilipinas 3,636,740
Development Bank of the Philippines 959,037
LBP Leasing & Finance Corporation 48,313
LBP Insurance Brokerage, Inc. 39,899
LBP Resources and Development Corporation 34,210
DBP Leasing Corporation 32,916
Masaganang Sakahan, Inc. 15,370
DBP Data Center, Inc. 605
Cluster 2 - Social Security Services and Housing 737,037

Home Guaranty Corporation 412,852
National Home Mortgage Finance Corporation 159,001
National Housing Authority 18,220
Small Business Guarantee and Finance Corporation 33,512
Social Housing Finance Corporation 113,453
Cluster 3 - Public Utilities 6,371,864

Cebu Port Authority 345
Local Water Utilities Administration 300,529
Metropolitan Waterworks and Sewerage System 611,074
National Electrification Administration 86,905
National Power Corporation 1,410,309
Philippine National Oil Company 148,028
Philippine Ports Authority 3,103,323
Philippine Postal Corporation 105,823
PNOC Exploration Corporation 605,529
Cluster 4 - Industrial and Area Development 12,676,587

Alabang Sto. Tomas Development, Inc. 751
Authority of the Freeport Area of Bataan 74,134
Bases Conversion and Development Authority 905,743
Batangas Land Company, Inc. 2,525
Cagayan Economic Zone Authority 144,639
Civil Aviation Authority of the Philippines 6,224,969
Clark Development Corporation 700,000
GY Realty Estate, Inc. 5,292
Kamayan Realty Corporation 7,477
Laguna Lake Development Authority 43,310
Mactan Cebu International Airport Authority 220,677
Manila International Airport Authority 2,250,721
National Development Company 160,592
NDC-Philippine Infrastructure Corporation 273
Partido Development Administration 1,170
Philippine Economic Zone Authority 677,513
Philippine Reclamation Authority 766,409
PHIVIDEC Industrial Authority 221,372
Pinagkaisa Realty Corporation 353
169
Schedule 18
Name of Government Corporations Amount
Poro Point Management Corporation 5,767

Subic Bay Metropolitan Authority 262,902
Cluster 5 - Agricultural and Natural Resources 6,679,005

Food Terminal, Inc. 963,792
National Dairy Authority 5,000
Philippine Amusement and Gaming Corporation 2,593,399
Philippine Charity Sweepstakes Office 2,535,289
Philippine Crop Insurance Corporation 170,769
Philippine Fisheries Development Authority 48,706
Philippine International Trading Corporation 64,517
Philippine Retirement Authority 208,885
Philippine Sugar Corporation 11,943
Sugar Regulatory Administration 76,705
Cluster 6 - Social, Cultural, Trading, Promotional and Other Services 5,402,091

Philippine Amusement and Gaming Corporation 2,593,399
Philippine Charity Sweepstakes Office 2,535,289
Philippine International Trading Corporation 64,517
Philippine Retirement Authority 208,885
Total 45,477,972
170
Schedule 19
Subsidy Income from the National Government

CYs 2018 and 2017
(in thousand pesos)
Name of Government Corporations Amount Increase/(Decrease)

2018 2017 Amount Percent
Cluster 1 - Banking and Credit 67,971 47,574 20,397
Credit Information Corporation 67,971 47,574 20,397 42.87%
Cluster 2 - Social Security Services and Housing 2,481,790 23,294,632 (20,812,842)

National Home Mortgage Finance Corporation 264,168 1,000,000 (735,832) 73.58%
National Housing Authority 352,807 19,557,279 (19,204,472) 98.20%
Small Business Guarantee and Finance Corporation 1,066,996 950,072 116,924 12.31%
Social Housing Finance Corporation 612,462 1,246,205 (633,742) 50.85%
Social Security System 185,358 541,076 (355,718) 65.74%
Cluster 3 - Public Utilities 2,592,633 3,077,108 (484,475)

Light Rail Transit Authority 514,788 819,389 (304,601) 37.17%
Local Water Utilities Administration 226,657 - 226,657 100.00%
National Electrification Administration 722,728 - 722,728 100.00%
National Power Corporation 349,890 1,191,680 (841,790) 70.64%
Philippine National Railways 131,670 529,502 (397,833) 75.13%
Philippine Postal Corporation 585,642 536,537 49,105 9.15%
Water Districts 61,258 - 61,258 100.00%
Cluster 4 - Industrial and Area Development 1,632,311 5,230,540 (3,598,229)

Aurora Pacific Economic Zone and Freeport Authority 59,513 40,000 19,513 48.78%
Bases Conversion and Development Authority 212,833 1,488,146 (1,275,313) 85.70%
Cagayan Economic Zone Authority 5,686 - 5,686 100.00%
Civil Aviation Authority of the Philippines 553,656 - 553,656 100.00%
Manila International Airport Authority 685,298 3,609,522 (2,924,224) 81.01%
North Luzon Railways Corporation 450 1,814 (1,364) 75.20%
Southern Philippines Development Authority 64,793 41,058 23,735 57.81%
Zamboanga City Special Economic Zone Authority 50,081 50,000 81 0.16%
Cluster 5 - Agricultural and Natural Resources 52,520,545 42,604,887 9,915,658

National Dairy Authority 470,694 199,945 270,749 135.41%
National Food Authority 12,785,155 5,100,000 7,685,155 150.69%
National Irrigation Administration 33,304,104 31,689,502 1,614,602 5.10%
Philippine Coconut Authority 1,373,549 1,324,117 49,432 3.73%
Philippine Crop Insurance Corporation 3,500,000 2,500,000 1,000,000 40.00%
Philippine Fisheries Development Authority 196,184 94,111 102,073 108.46%
Philippine Rice Research Institute 778,359 561,000 217,359 38.74%
Sugar Regulatory Administration 112,500 1,136,211 (1,023,711) 90.10%
Cluster 6 - Social, Cultural, Trading, Promotional and

Other Services 60,166,418 50,827,780 9,338,638
Center for International Trade Expositions and Missions 231,876 220,000 11,876 5.40%
Cultural Center of the Philippines 293,252 838,159 (544,907) 65.01%
Development Academy of the Philippines 281,279 212,159 69,120 32.58%
Lung Center of the Philippines 257,657 265,190 (7,533) 2.84%
National Kidney and Transplant Institute 804,554 468,089 336,465 71.88%
People's Television Network, Inc. 262,705 317,273 (54,568) 17.20%
Philippine Center for Economic Development 35,925 44,745 (8,820) 19.71%
171
Schedule 19
Name of Government Corporations Amount Increase/(Decrease)

2018 2017 Amount Percent
Philippine Children's Medical Center 938,585 544,163 394,422 72.48%

Philippine Health Insurance Corporation 55,936,806 46,993,658 8,943,147 19.03%
Philippine Heart Center 888,733 613,594 275,140 44.84%
Philippine Institute for Development Studies 131,811 201,211 (69,400) 34.49%
Philippine Institute of Traditional and Alternative Health
Care 103,235 109,539 (6,304) 5.76%
Total 119,461,668 125,082,521 (5,620,853)
172
Schedule 20
Summary of Representation, Extraordinary and Miscellaneous, Advertising

Promotional and Marketing Expenses, Confidential, Intelligence and Consultancy Services
(in thousand pesos)
Extraordinary Advertising,
and Promotional Confidential/ Consultancy
Name of Government Corporations Representation Total
Miscellaneous and Marketing Intelligence Services
Expenses Expenses
Cluster 1 - Banking and Credit 23,523 260,115 5,225 - 264,367 553,231

Al-Amanah Islamic Investment Bank of the Philippines 771 127 96 - 8,577 9,571
Bangko Sentral ng Pilipinas (with Philippine International
Convention Center, Inc.) - 2,922 - - 184,307 187,229
Credit Information Corporation 654 180 1,727 - 2,210 4,771
173
DBP Data Center, Inc. 299 - 398 - 67,058 67,755

DBP Leasing Corporation 236 373 - - - 609
DBP Management Corporation - 2 - - - 2
Development Bank of the Philippines 8,550 248,398 - - - 256,948
Landbank Countryside Development Foundation, Inc. 342 486 - - 71 899
Landbank Insurance Brokerage, Inc. 1,167 - 208 - - 1,375
LBP Leasing and Finance Corporation 2,914 - 746 - - 3,661
LBP Resources and Development Corporation 162 216 11 - - 389
Masaganang Sakahan, Inc. 394 - 116 - - 510
Northern Foods Corporation 984 43 54 - - 1,081
Overseas Filipino Bank, Inc. 7,053 - 72 - 354 7,478
Philippine Deposit Insurance Corporation - 7,367 1,796 - 1,790 10,954
Cluster 2 - Social Security Services and Housing 97,660 207,019 414,576 - 91,197 810,452
AFP Retirement and Separation Benefits System 3,866 193 267 - 1,695 6,021
Employees' Compensation Commission 8,453 996 10,285 - 560 20,294
Government Service Insurance System 5,650 - 52,505 - 3,136 61,291
Home Development Mutual Fund 53,103 190,062 258,544 - 44,030 545,740
Schedule 20
Expenses Expenses
Home Guaranty Corporation 742 3,044 93 - 676 4,555

National Home Mortgage Finance Corporation 7,388 4,065 7,589 - 5,048 24,090
National Housing Authority 5,470 110 1,124 - 7,142 13,847
Palacio del Gobernador Condominium Corporation - 231 - - 624 855
Small Business Guarantee and Finance Corporation 5,920 5,960 3,561 - 7,261 22,702
Social Housing Finance Corporation 5,891 671 3,929 - 6,668 17,159
Social Security System - 1,553 75,078 - 14,358 90,989
Southern Utility Management and Services, Inc. 654 132 648 - - 1,434
Trade and Investment Development Corporation of the Philippines 522 - 954 - - 1,477
- - - - -
Cluster 3 - Public Utilities 178,965 92,474 99,442 9,526 229,958 610,364
174
APO Production Unit, Inc. 759 63 2,629 25 425 3,901

Cebu Port Authority 1,684 - 188 - 103 1,974
Light Rail Transit Authority 526 234 428 - 2,212 3,400
Local Water Utilities Administration - 980 7,568 - 15,074 23,622
Metropolitan Waterworks and Sewerage System 2,651 1,054 786 - 54,158 58,649
National Electrification Administration 424 3,866 109 - 12,763 17,162
National Power Corporation 1,363 763 7,447 - 3,789 13,361
National Transmission Corporation 2,436 475 596 - 12,211 15,718
Panay Railways, Incorporated 123 58 - - 381 562
Philippine National Oil Company 7,274 140 1,035 - 398 8,846
Philippine National Railways 422 - 584 - 4,256 5,262
Philippine Ports Authority 22,602 30 2,352 8,000 96,942 129,926
Philippine Postal Corporation - 1,778 3,941 - 877 6,596
PNOC Alternative Fuels Corporation 11 - - - - 11
PNOC Development and Management Corporation 3 - 6 - 86 95
PNOC Exploration Corporation 5,687 - 3,438 - 3,783 12,908
PNOC Renewables Corporation 296 777 309 - 737 2,119
Power Sector Assets and Liabilities Management Corporation 5,315 644 4,611 - 4,984 15,553
Water Districts 127,391 81,611 63,416 1,501 16,780 290,700
Schedule 20
Expenses Expenses
Cluster 4 - Industrial and Area Development 64,896 36,363 166,859 16,000 272,613 556,731
Alabang Sto. Tomas Development, Inc. 8 63 - - - 72
Aurora Pacific Economic Zone Authority 3,846 300 445 - - 4,591
Authority of the Freeport of Bataan 1,306 415 1,178 - 8,911 11,811
Bases Conversion Development Authority 7,284 - 80,484 - 153,325 241,093
Batangas Land Company, Inc. 25 - 39 - - 63
BCDA Management and Holdings, Inc. - 0 0
Cagayan Economic Zone Authority 5,392 375 3,385 - 2,769 11,921
Civil Aviation Authority of the Philippines 19,824 291 1,677 15,000 8,565 45,357
Clark Development Corporation 5,612 - 27,516 - 13,199 46,327
Clark International Airport Corporation 1,787 - 7,920 - 2,560 12,268
Corregidor Foundation, Inc. 45 - 75 - 175 294
DISC Contractors Builders and General Services, Inc. - - 8 - 8
175
First Cavite Industrial Estate Inc. 3 2 - - - 5

GY Realty Estate, Inc. 9 - - - - 9
John Hay Management Corporation 1,759 87 822 - 139 2,808
Kamayan Realty Corporation 5 - 39 - - 43
Laguna Lake Development Authority 2,497 164 402 - 1,988 5,052
Mactan-Cebu International Airport Authority - 830 - - 2,331 3,161
Manila Gas Corporation 14 12 480 507
Manila International Airport Authority 1,410 28,402 544 - 6,685 37,041
National Development Company 167 2,550 201 - 7,492 10,409
NDC-Philippine Infrastructure Corporation 6 - - - - 6
North Luzon Railways Corporation 288 - - - - 288
Northeastern Luzon Pacific Coastal Service Inc. 6 - - - - 6
Partido Development Administration - 106 - - - 106
Philippine Aerospace Development Corporation 12 68 1 - - 80
Philippine Economic Zone Authority 1,592 284 1,568 - 1,085 4,530
Philippine National Construction Corporation 1,039 - 69 - 268 1,376
Philippine Reclamation Authority - 44 - - 44
PHIVIDEC Industrial Authority 1,667 44 146 - 565 2,422
Pinagkaisa Realty Corporation 4 - - - - 4
Schedule 20
Expenses Expenses
Poro Point Management Corporation 1,246 668 800 - 19 2,733
Southern Philippines Development Authority 1,332 104 84 - - 1,520
Subic Bay Metropolitan Authority - 996 21,215 - 14,548 36,760
Subic-Clark Alliance for Development 214 - 153 - - 368
Tourism Infrastructure and Enterprise Zone Authority 5,333 321 18,043 - 47,509 71,206
Zamboanga City Special Economic Zone Authority 1,163 235 45 1,000 - 2,442
Cluster 5 - Agricultural and Natural Resources 44,352 13,955 22,605 10,021 54,353 145,286
Food Terminal, Inc. - 1,035 - - 6,848 7,883
Human Settlements Development Corporation 100 412 3 - 209 725
National Dairy Authority 2,059 688 3,895 - 241 6,882
National Food Authority 14,408 3,308 1,661 - 2,419 21,796
National Irrigation Administration 18,053 4,940 666 - 33,845 57,504
176
National Tobacco Administration 3,674 228 20 - 1,121 5,043

Natural Resources Development Corporation 39 77 - - - 115
Philippine Coconut Authority 364 874 304 - 1,194 2,736
Philippine Crop Insurance Corporation 3,270 1,827 14,861 - 1,867 21,825
Philippine Fisheries Development Authority 1,256 181 184 - 3,719 5,339
Philippine Mining Development Corporation 58 160 54 10,021 358 10,651
Philippine Rice Research Institute 32 - 353 - 2,234 2,619
Philippine Sugar Corporation 370 - 9 - 300 679
Quedan and Rural Credit Guarantee Corporation 79 119 13 - - 211
Sugar Regulatory Administration 590 107 582 - - 1,278
Cluster 6 - Social, Cultural, Trading, Promotional and Other

Services 120,886 36,737 1,946,581 - 317,519 2,421,722
Boy Scouts of the Philippines 528 1 - - 372 901
Center for International Trade Expositions and Missions 5,337 28 17,010 - - 22,375
Cultural Center of the Philippines 1,014 - 234 - - 1,248
Development Academy of the Philippines 45,975 196 65 - 68,821 115,058
Intercontinental Broadcasting Corporation 1,045 68 - - - 1,113
Lung Center of the Philippines - - 87 - 4,222 4,310
Schedule 20
Expenses Expenses
National Kidney and Transplant Institute - 24,763 8 - - 24,771
People's Television Network, Inc. 641 904 1,031 - 402 2,978
Philippine Amusement and Gaming Corporation 8,963 - 1,591,888 - 198,630 1,799,481
Philippine Center for Economic Development 42 0 - 43
Philippine Charity Sweepstakes Office 383 257 147,915 - 24,345 172,899
Philippine Children's Medical Center - 69 69 - - 137
Philippine Health Insurance Corporation 35,321 6,391 139,454 - 3,543 184,708
Philippine Heart Center 439 25 184 - - 648
Philippine Institute for Development Studies 470 222 12 - 12,790 13,494
Philippine Institute of Traditional and Alternative Health Care 346 117 2,274 - 1,765 4,502
Philippine International Trading Corporation 1,509 52 4,729 - 539 6,828
Philippine Pharma Procurement, Inc 70 - 80 - 729 878
177
Philippine Retirement Authority 7,649 85 41,433 - 1,362 50,528

Veterans Federation of the Philippines 11,156 3,559 109 - - 14,824
TOTAL 530,281 646,663 2,655,288 35,547 1,230,007 5,097,787

ANNEXES
Annex A
Summary of Data of Government Corporations by Cluster
Parent /
Name of Government Corporations Acronym Controlling Office Address Enabling Law/Creation
Entity
Cluster 1- Banking and Credit
1 Bangko Sentral ng Pilipinas BSP - A. Mabini St. cor. P. Ocampo St., Malate Manila, Section 20, Article XII of the Philippine
Philippines 1004 Constitution and Republic Act (RA) No. 7653
2 Central Bank Board of Liquidators* CB-BOL Mabini Street, BSP Complex, Manila, 1004 Metro Manila EO No. 169 as amended by EO No. 455
3 Credit Information Corporation CIC BSP 6th Floor, Exchange Corner Building 107 V.A. Rufino RA No. 9510
Street corner Esteban Street Legaspi Village,1229, Makati
City, Philippines
4 Philippine International Convention Corporation Inc.** PICCI BSP PICC Complex, 130 Pasay City, Metro Manila, Philippines Presidential Decree (PD) No. 520 as amended by
PD No. 710
5 Development Bank of the Philippines DBP - 7th Floor, Development Bank of the Philippines Sen. Gil J. RA No. 85 as amended by Executive Order (EO)
Puyat Avenue corner Makati Avenue No. 81
6 Al-Amanah Islamic Investment Bank of the Philippines AAIIBP DBP Ground Floor, DBP Building, Senator Gil J. Puyat Avenue RA No. 6848
178
corner Makati Avenue Makati City 1200 Metro Manila

7 DBP Data Center Inc. DCI DBP 9F DBP Building Sen. Gil J. Puyat Avenue corner Makati DBP Board Resolution No. 3172 and SEC
Avenue, Makati City 1200 Registration No. 107887
8 DBP Leasing Corporation DPBLC DBP 4/F DBP Bldg. cor Makate Ave., Sen. Gil J. Puyat Ave, Corporate Law/SEC Registration No. 128538
Makati, 1227 Metro Manila
9 DBP Management Corporation DBPMC DBP 8th Floor, DBP Head Office Building, Sen. Gil Puyat DBP Board Resolution No. 3403/SEC
Avenue corner Makati Avenue, Makati City Registration No. 102149
10 Land Bank of the Philippines LBP - 31F Landbank Plaza 1598 M.H. del Pilar cor. Dr. J. Quintos RA No. 3844
Sts., Malate, Manila 1004
11 LBP Countryside Development Foundation Inc. LCDFI LBP 26th Floor Landbank Plaza 1598 M.H. Del Pilar cor. Dr. J. Corporate Law/SEC Registration No. 110790
Quintos Sts, Malate, Manila 1004
12 LBP Resources and Development Corporation LBRDC LBP 1598 M. H. Del Pilar Corner Quintos Streets Malate, Corporate Law/SEC Registration No. 61385
Manila
13 LBP Insurance Brokerage, Inc. LIBI LBP 12/F SSHG Law Center 105 Paseo De Roxas Legaspi Corporate Law/SEC Registration No. 105764
Village, Makati City
14 LBP Leasing and Finance Corporation LLFC LBP 15th Floor SYCIP Law Center, 105 Paseo de Roxas, Corporate Law/SEC Registration No. 111115
Legazpi Village, Makati, 1200 Metro Manila
15 Masaganang Sakahan Inc. MSI LBP 12F, Sycip Law Center, 105 Paseo De Roxas, Legaspi Corporate Law/SEC Registration No. 59145
Village, Makati City
Annex A
Parent /
Name of Government Corporations Acronym Controlling Address Enabling Law/Creation
Entity
16 Northern Foods Corporation NFC - Barangay 1 San Joaquin 2914 Sarrat, Ilocos Norte SEC Registered
17 Philippine Deposit Insurance Corporation PDIC - 3rd - 10th Floor SSS Building 6782 Ayala Avenue corner RA No. 3591
V.A. Rufino St. Makati City 1226 Philippines
18 Overseas Filipino Bank, Inc. OFBI LBP OFBank Center Liwasang Bonifacio, Ermita, Manila Executive Order No. 44 and BSP Circular Letter
No. CL-2018-007
1 AFP Retirement and Separation Benefits System AFPRSBS - 424 Capinpin Avenue, Camp Aguinaldo, Quezon City PD No. 361 promulgated on December 30,
1973; PD No. 1656 and PD No. 1909
2 Employees' Compensation Commission ECC - ECC Bldg. 355 Sen. Gil Puyat Ave., Makati City PD No. 626 dated December 27, 1974
3 Government Service Insurance System GSIS - GSIS Financial Center, Macapagal Avenue, Pasay City CA No. 186 dated November 14, 1936; PD No.
1146; and RA 8291
4 Home Development Mutual Fund HDMF - Petron Mega Plaza Building, 358 Senator Gil Puyat PD No. 1530; EO No. 527; EO No. 538 ; PD
Avenue, Makati City No. 1752; EO No. 35; EO No. 90; RA No. 7742;
RA 9679
5 Home Guarantee Corporation HGC - Jade Bldg., 335 Sen. Gil J. Puyat Avenue, Makati City RA No. 580 and RA 8763
6 National Home Mortgage Finance Corporation NHMFC - Filomena Building III, 104 Amorsolo Street, Legaspi PD No. 1267 dated December 21, 1977; EO No.
179
Village, Makati City 90; EO No. 357; EO No. 90; RA No. 6846; RA
No. 7279; and EO No. 272.
7 National Housing Authority NHA - Elliptical Road, Diliman, Quezon City PD No. 757 as amended EO 90 of 1986; RA No.
7279; RA No. 7835; EO No. 195; AO No. 111;
AO No. 9 and AO No. 03.
8 Palacio Del Gobernador Condominium Corporation PDGCC - General Luna Street, corner Andres Soriano, Jr. Ave., RA No. 4726 or Condominium Act and Act No.
Intramuros, Manila 1459 or the Corporation Law. It is registered
with the SEC under Registration No. 69822
9 Small Business Guarantee and Finance Corporation ( or SBGFC - 17th and 18th Floors, Corporate Center, 139 Valero Street, Section 11 of RA No. 6977, amended by RA
Small Business Corporation) Salcedo Village, Makati City No. 8289; RA No. 9501; and EO No. 58
10 Social Housing Finance Corporation SHFC NHMFC Banco De Oro Plaza, 8737 Paseo de Roxas, Makati City EO No. 272; Certificate of Incorporation under
SEC No. CS200510702
11 Social Security System SSS - East Avenue, Diliman, Quezon City RA No. 1161; RA No. 8282
12 Southern Utilities Management and Services Inc. SUMSI AFPRSBS Block 11, Lot 9, Phase 1, San Lorenzo South, Sta. Rosa, Organized & Registered under SEC Registration
Laguna No. 043858, amended under SEC Registration
No. 6742845 ; and SEC Registration No.
ASO92-000001852
13 Trade and Investment Development Corporation of the TIDCORP - 17/F Citibank Tower, Citibank Tower, Valero Street, PD No. 1080; RA No. 8494; EO No. 85; and EO
Philippines (or Philippine Export-Import Credit Agency) Salcedo Village, Makati City 1227 No. 58
Annex A
Parent /
Entity
1 APO Production Unit, Inc. APO - Philippine Information Agency Building, Visayas Avenue, LOI 197 of 1974 and RA 10149 of 2011
Barangay Vasra, Quezon City 1128
2 Cebu Port Authority CPA - CIP Complex, Serging Osmeña Boulevard, North RA 7621
Reclamation Area, Cebu City
3 Light Rail Transit Authority LRTA - LRTA Compound, Marcos Highway, Santolan, Pasig City EO 603 as amended by EO 830 of 1982 and EO
210 of 1987
4 Local Water Utilities Administration LWUA - Katipunan Avenue, Balara, Quezon City PD 198 of 1973 as amended by PD 768 and PD
1479
5 Metropolitan Waterworks and Sewerage System MWSS - MWSS Building, Katipunan Road, Balara, Quezon City RA 6234 o 1971 and RA 8041 of 1995
6 National Electrification Administration NEA - No. 57 NEA Building, NIA Road, Barangay Pinyahan, PD 269 of 1973
Diliman, Quezon City 1100
7 National Power Corporation NPC - BIR Road corner Quezon Avenue, Diliman, Quezon City CA 120 of 1936 as amended by RA 6395
8 Panay Railways, Incorporated PRI - Huervana Street, La Paz, Iloilo City U.S. Congress Act, DBP BR No. 3463, s of
1974 as amended by BR No. 3593, s of 1974
9 Philippine National Oil Company PNOC - PNOC Building 6, Energy Center, Rizal Drive, Bonifacio PD 334 of 1973
180
Global City, Fort Bonifacio, Taguig City

10 PNOC Alternative Fuels Corporation PNOC-AFC PNOC PNOC Building 6, Energy Center, Rizal Drive, Bonifacio Corporation Law
11 PNOC Development and Management Corporation PNOC-DMC PNOC PNOC Building 6, Energy Center, Rizal Drive, Bonifacio Corporation Law
12 PNOC Exploration Corporation PNOC-EC PNOC PNOC Building 1, Energy Center, Rizal Drive, Bonifacio Corporation Law
13 PNOC Renewables Corporation PNOC-RC PNOC PNOC Building 5, Energy Center, Rizal Drive, Bonifacio Corporation Law
14 PNOC Shipping and Transport Corporation PNOC-STC PNOC PNOC Building 6, Energy Center, Rizal Drive, Bonifacio Corporation Law
15 Philippine National Railways PNR - PNR Executive Building, Mayhaligue Street, Tondo, RA 4156 and 6366; PD 741
Manila
16 Philippine Ports Authority PPA - PPA Corporate Building, Bonifacio Drive, South Harbor, PD 505 of 1974 as revised by PD 857 of 1975
Port Area, Manila
17 Philippine Postal Corporation PPC - Central Office Building, Liwasang Bonifacio, Manila 1000 RA 7354 of 1992
18 Power Sector Assets and Liabilities Management PSALM - Vertis North Corporate Center 1, Astra corner Lux Drives, RA 9136
Corporation North Avenue, Quezon City 1105
19 National Transmission Corporation TransCo PSALM Power Center, Quezon Avenue corner BIR Road, Diliman, RA 9136
Quezon City 1100
Annex A
Parent /
Entity
1 Aurora Pacific Economic Zone and Freeport Authority APECO - Casiguran, Aurora RA 10083 as amended by RA 9490
2 Authority of the Freeport Area of Bataan AFAB - Mariveles, Bataan RA 9728
3 Bases Conversion and Development Authority BCDA - 2F Bonifacio Technology Center, 31st Street, Cresent Park RA 7227 amended by RA 9717
West Bonifacio Global City, Taguig City
4 BCDA Management and Holdings, Incorporated BMHI BCDA 2F Bonifacio Technology Center, 31st Street, Cresent Park Corporation Law
West Bonifacio Global City, Taguig City
5 Clark Development Corporation CDC BCDA Clark Special Economic Zone, Clark Field, Angeles City, Corporation Law
Pampanga
6 Clark International Airport Corporation CIAC BCDA Corporate Office Bldg., Clark Freeport Zone, Clark Field, Corporation Law
Pampanga
7 John Hay Management Corporation JHMC BCDA Camp John Hay, Baguio City Corporation Law
8 North Luzon Railways Corporation NORTHRAIL BCDA MWSS Compound, Katipunan Road, Old Balara, Quezon Corporation Law
City
9 Poro Point Management Corporation PPMC BCDA Pennsylvania Avenue, Poro Point, San Fernando, La Union Corporation Law
181
10 Cagayan Economic Zone Authority CEZA - 7th Flr Westar Building, 611 Shaw Blvd., Pasig RA 7922
11 Northeastern Luzon Pacific Coastal Service, Inc. NLPCSI - 7th Flr Westar Building, 611 Shaw Blvd., Pasig Corporation Law
12 Civil Aviation Authority of the Philippines CAAP - Old MIAA Road, Pasay City RA 9497
13 Laguna Lake Development Authority LLDA - National Ecology Center, East Avenue, Diliman, Quezon RA 4850 as amended by PD 813
City of 1975 EO 927 of 1983
14 Mactan-Cebu International Airport Authority MCIAA - Lapulapu City, Cebu RA 6958
15 Manila International Airport Authority MIAA - MIAA Administration Bldg., MIAA Road, Pasay City EO 778 of 1982 as amended by EO 903 and EO
909 both of 1983
16 Marawi Resort Hotels, Incorporated MRHI - Marawi City Corporation Law
17 National Development Company NDC - #116 Tordesillas St., Salcedo Village, Makati City Legislative Act 2849 of 1919 as amended by CA
Act 182 of 1936, as amended by CA 311 of
1938; PD 1648 of 1979
18 Batangas Land Company, Incorporated BLCI NDC #116 Tordesillas St., Salcedo Village, Makati City Corporation Law
19 First Cavite Industrial Estate, Incorporated FCIEI NDC #116 Tordesillas St., Salcedo Village, Makati City Corporation Law
20 GY Realty Estate, Incorporated GYREI NDC #116 Tordesillas St., Salcedo Village, Makati City Corporation Law
21 Inter-Island Gas Services, Incorporated IIGSI NDC #116 Tordesillas St., Salcedo Village, Makati City Corporation Law
22 Kamayan Realty Corporation KRC NDC #116 Tordesillas St., Salcedo Village, Makati City Corporation Law
Annex A
Parent /
Entity
23 Manila Gas Corporation MGC NDC #116 Tordesillas St., Salcedo Village, Makati City Corporation Law
24 NDC-Philippine Infrastructure Corporation NPIC NDC #116 Tordesillas St., Salcedo Village, Makati City Corporation Law
25 Pinagkaisa Realty Corporation PRC NDC #116 Tordesillas St., Salcedo Village, Makati City Corporation Law
26 Partido Development Administration PDA - Caraycayon, Tigaon, Camarines Sur RA 7820 of 1994
27 Philippine Aerospace Development Corporation PADC - Hangar 2, General Aviation Area, Domestic Rd., Paranaque PD 286 of 1973 as amended by PDs 346 of
City 1973 and 696 of 1975
28 Philippine Economic Zone Authority PEZA - Roxas Blvd. corner San Luis St., Pasay City RA 7916 of 1995 as amended by RA 8748
29 Philippine National Construction Corporation PNCC - Km. 15, East Service Road, Bicutan, Paranaque City LOI 1295 of 1983
30 Alabang- Sto.Tomas Development, Incorporated ASDI PNCC Km. 15, East Service Road, Bicutan, Paranaque City Corporation Law
31 CDCP Farms Corporation CDCP-FC PNCC Km. 15, East Service Road, Bicutan, Paranaque City Corporation Law
32 DISC Contractors Builders and General Services, Inc. DISCCBGSI PNCC Km. 15, East Service Road, Bicutan, Paranaque City Corporation Law
33 Philippine Reclamation Authority PRecA - 7/F Legaspi Towers 200 Bldg., 107 Paseo de Roxas St. PD 1084 of 1977
Legaspi Village, 1226 City of Makati
34 PEA Tollway Corporation PEATC PRecA Aguinaldo Blvd., Coastal Rd.,Paranaque City Corporation Law
182
35 PHIVIDEC Industrial Authority PIA - Municipalities of Togoloan and Villanueva, Misamis PD 538 as amended by PD1491; EO No. 1031
Oriental
36 Southern Philippines Development Authority SPDA - 4th Floor, Karpentrade Building, Km. 2 McArthur PD 690 of 1975 as amended by PD 1703 of
Highway, Matina, Davao City 1980
37 Subic Bay Metropolitan Authority SBMA - SBMA Building 229, Subic Bay Freeport Zone, Olongapo RA 7227
City
38 Subic-Clark Alliance for Development SCAD - Ground Floor, Building 2127, CDC Corporate EO 504; AO 105 of 2006; Amended EO 504-A
Headquarters, E. Quirino corner C. Garcia Streets, Clark series of 2008
Freeport Zone
39 Tourism Infrastructure and Enterprise Zone Authority TIEZA - 142 Amorsolo Street, Legaspi Village, Makati City PD 189 amended under PD 564; Section 63 of
RA 9593
40 Corregidor Foundation, Inc. CFI TIEZA 142 Amorsolo Street, Legaspi Village, Makati City Corporation Law
41 Zamboanga City Special Economic Zone Authority ZCSEZA - San Ramon, Zamboanga City RA 7903 of 1995
1 National Food Authority NFA - 2nd Floor L-Shaped Bldg., NFA Compound, Visayas PD No. 4 dated September 26, 1972 and PD No.
Avenue, Quezon City 1770 dated January 14, 1981
2 Food Terminal, Inc. FTI NFA 2nd Floor, FTI Administration Building, FTI Avenue, Lot SEC Registration No. 35176 dated May 3, 1968,
55, East Service Road, Western Bicutan, Taguig City subsidiary of NFA by virtue of PD No. 1770
dated January 14, 1981
Annex A
Parent /
Entity
3 National Irrigation Administration NIA - National Government Center, EDSA, Diliman, Quezon City RA No. 3601 dated June 22, 1963
4 Philippine Coconut Authority PCA - PCA Building, Elliptical Road, Diliman, Quezon City PD No. 232 dated June 30, 1973 as amended by
PD No. 1468 dated June 11, 1978
5 Sugar Regulatory Administration SRA - Sugar Center Building, North Avenue, Diliman, Quezon EO No. 18 dated May 28, 1986
City
6 Philippine Sugar Corporation PHILSUCOR - Unit 1405-A, 14th Floor, Security Bank Centre, 6776 Ayala PD No. 1890 dated November 14, 1983
Avenue, Makati City
7 Philippine Fisheries Development Authority PFDA - PCA Annex Building, Elliptical Road, Diliman, Quezon PD No. 977 dated August 11, 1976 as amended
City by EO No. 772 dated February 8, 1982
8 National Dairy Authority NDA - NDA Building, Bureau of Animal Industry Compound, RA No. 7884 dated March 12, 1995
Visayas Avenue, Diliman, Quezon City
9 National Tobacco Administration NTA - Scout Reyes Street corner Panay Avenue, Quezon City EO No. 116 dated January 30, 1987 and
implemented by EO No. 245 dated July 24,
10 Human Settlements Development Corporation HSDC - 1987
Unit 1405, West Tower, Philippine Stock Exchange Centre, PD No. 1396 dated June 2, 1978
Exchange Road, Ortigas Center, Pasig City
11 Natural Resources Development Corporation NRDC - 9th Floor, L & S Building, 1515 Roxas Boulevard, Ermita, EO No. 786 dated March 19, 1982
183
Manila
12 Philippine Mining Development Corporation PMDC NRDC 3001 B & C West Tower, Philippine Stock Exchange SEC Registration No. CS200314923 dated July
Center, Exchange Road, Ortigas Center, Pasig City, Metro 4, 2003
Manila
13 Quedan and Rural Credit Guarantee Corporation QUEDANCOR - 34 Panay Avenue, Quezon City LOI No. 704 in 1978, reorganized by virtue of
RA No. 7393 dated April 13, 1992
14 Philippine Crop Insurance Corporation PCIC - 7th Floor, NIA Building A, NIA Complex, EDSA, Quezon PD No. 1467 dated June 11, 1978, amended by
City PD No. 1733 dated October 21, 1980 and EO
No. 708 dated July 27, 1981, further amended
by RA No. 8175 enacted on December 20, 1995
15 Philippine Rice Research Institute PRRI - Maligaya, Science City of Muñoz, Nueva Ecija EO No. 1061 dated November 5, 1985
16 Bukidnon Forests, Incorporated*** BFI - Barangay Sumpong, Malaybalay City, Bukidnon SEC Registration No. 45092-06749 dated
October 7, 1992
1 Boy Scouts of the Philippines BSP - 181 Natividad Almeda-Lopez Street, Ermita, 1000 Manila Commonwealth Act No. 111 dated October
31, 1936 amended by Presidential Decree No.
460 and Republic Act No. 7278 dated March 24,
1992
2 Center for International Trade Expositions and Missions CITEM - ITC Complex, Roxas Blvd, cor Buendia St, Pasay City EO Nos. 989 and 133 as amended by EO No.
242, dated July 24, 1987
Annex A
Parent /
Entity
3 Cultural Center of the Philippines CCP - CCP Complex, Roxas Boulevard, Pasay City E.O. No. 30 year 1966
4 Development Academy of the Philippines DAP - San Miguel Avenue, Pasig City PD No. 205 dated June 7, 1973, amended by PD
No. 1061 dated December 9, 1976 and EO No.
288 signed on July 25, 1987
5 Duty Free Philippines Corporation*** DFPC - Fiesta Mall, EHA Building, Ninoy Aquino Ave, Parañaque EO No. 46 dated September 4, 1986;
City reorganized to DFPC under Section 89 of RA
No. 9593 (Tourism Act of 2009) dated
11/10/2009, attached to the Department of
Tourism
6 Lung Center of the Philippines LCP - Quezon Avenue, Quezon City PD No. 1823 dated January 16, 1981
7 National Kidney and Transplant Institute NKTI - East Avenue, Diliman, Quezon City PD No. 1832 dated January 16, 1981
8 Nayong Pilipino Foundation*** NPF - Nayong Pilipino sa Clark Expo (NPCE), Clark, Pampanga PD 37 dated November 6, 1972
9 Intercontinental Broadcasting Corporation IBC 13 - Broadcast City, Capitol Hills, Diliman, Quezon City SEC Registration No. 4118 dated May 11, 1970.
EO No. 11 dated April 8, 1986 created a Board
of Administrators to manage and operate the
184
business and affairs of IBC and have the custody

of their funds and assets subject to the
supervision and control of the PCGG
10 Philippine Center for Economic Development PCED - UP - School of Economics, Diliman Campus, Quezon City PD No. 453 dated May 13, 1974
11 Philippine Amusement and Gaming Corporation PAGCOR - PAGCOR Corporate Office (PAGCOR Executive Offices) PD 1067-A dated January 1, 1977, amended by
PD Nos. 1067-B, 1067-C, 1399 and 1632 which
were subsequently consolidated into one statute,
PD 1869 dated July 11, 1983
12 Philippine Charity Sweepstakes Office PCSO - Conservatory Building, Shaw Blvd, Mandaluyong City Philippine Legislature Act No. 4130 on October
30, 1934 and later amended by R.A. No. 1169
in 1954 and Batas Pambansa Blg. 42 on Sept.
24, 1979
13 Philippine Children's Medical Center PCMC - Quezon Avenue, Quezon City PD No. 1631 dated August 10, 1979
14 Philippine Heart Center PHC - East Avenue, Diliman, Quezon City PD No. 673 dated March 19, 1975
15 Philippine Health Insurance Coporation PHIC - 18th Floor, City State Centre, 709 Shaw Blvd, Brgy. RA 9241 dated February10, 2004
Orambo, Pasig City
16 Philippine Institute for Development Studies PIDS - 18th Floor, Three Cyberpod Centris-North Tower, EDSA PD 1201 dated September 1977
corner Quezon Avenue, Quezon City
17 Philippine Institute of Traditional and Alternative Health PITAHC - East Avenue, Diliman, Quezon City RA No. 8423 dated July 29, 1997
Care
Annex A
Parent /
Entity
18 Philippine International Trading Corporation PITC - 5th Flr NDC Bldg, Tordesillas St, Salcedo Village, Makati PD No. 252 dated July 21, 1973 as amended by
City PD No. 1071 on January 25, 1977
19 Philippine Pharma Procurement, Inc PPPI - 2nd Flr NDC Bldg, 116 Tordesillas St, Salcedo Village, SEC Registration No. 99913 dated November 9,
Makati City 2006
20 People's Television Network, Inc. PTNI - Visayas Avenue, Quezon City RA No. 7306 dated March 26, 1992
21 Philippine Retirement Authority PRA - 29th Floor, Citibank Tower, 8741 Paseo de Roxas, Makati EO No. 1037 dated July 4, 1985
City
22 Tourism Promotions Board TPB - 4th Flr, Legaspi Towers , 300 Roxas Blvd, cor P. Ocampo, PD No. 867 and PD No. 1448, reorganized to
Malate, Manila TPB, attached to the Department of Tourism for
policy and program coordination under RA No.
9593 (Tourism Act of 2009) dated 11/10/2009
23 Veterans Federation of the Philippines VFP - Arroceros, Manila RA No. 2640, 1968
*With AAR; FS as of July 2, 2018 not included in the CY 2018 AFR end of term (CB-BOL)
**With FS but consolidated to BSP-Parent Agency (PICC)
185
***Management Letter was issued in lieu of Annual Audit Report; No FS submitted (BFI, NPF, DFP)
Annex B
Summary of Functions of Government Corporations
This Cluster has auditorial jurisdiction over GOCCs in the banking and credit, and other
related classifications. In general, the functions of these GOCCs include the following:
 Formulate and implement policies in the areas of money, banking and credit with the
primary objective of maintaining stable prices conducive to balanced and sustainable
economic growth in the Philippines; maintain the country’s international reserves,
perform credit operations, engage in open market operations, exercise supervision
over banking institutions, operate the interbank real-time gross settlement system,
act as a banker of the government, and has the sole power and authority to issue
currency (BSP);
 Print bank notes and produce circulation coins (BSP);
 Retain and administer, dispose of and liquidate the assets and liabilities of the then
Central Bank of the Philippines not transferred to or assumed by the Bangko Sentral
Ng Pilipinas (CB-BOL);
 Receive and consolidate basic credit data, to act as central registry or central
repository of credit information or credit history and financial condition of
borrowers (CIC);
 Undertake the management, operation and administration of the PICC for use in the
holding of international conferences, conventions, meetings, seminars and the like,
including but not limited to, special events, professional exhibitions and trade
shows, and other special services as may be required by the users thereof (PICCI);
 Provide banking services principally to cater to the medium and long-term financial
needs of agricultural and industrial enterprises particularly in the countryside with
emphasis on small and medium-scale industries (DBP);
 Provide financial assistance to participating financial institutions for on-lending to

investment enterprises and also direct to borrowers as may be required by its
catalytic role in the economy (DBP);
 Engage in other activities including investments in government and private financial

institutions (DBP);
 Promote and accelerate the socio-economic development of the Autonomous Region

by performing banking, financing and investment operations and establish and
participate in agricultural, commercial and industrial ventures based on the Islamic
concept of banking (AAIIBP);
 Develop and implement non-banking systems for private and government entities
(DCI);
186
Annex B
 Purchase or dispose of real and personal property of every kind and description,
including shares of stocks, bonds, debentures, notes, evidences of indebtedness, and
other securities or obligations of any corporation or association and manage the
general business of any company (DBPMC);
 Engage in the business of leasing in all its aspect, and to arrange or underwrite or
administer leases of all types of real or personal properties and all kinds of
equipment, machines, vehicles, and facilities, especially maritime vessels for the
carriage of passengers, freight, cargo, vehicles, goods and merchandise of every
kind and description (DBPLC);
 Finance the acquisition and distribution of agricultural estates for division and re-
sale to small landholders and the purchase of landholdings by agricultural land
tenants (LBP);
 Engage/act as financial intermediary of the Land Reform Program of the

government (LBP);
 Assist in countryside development and extend assistance to farmers and fisherfolks,

Agrarian Reform beneficiaries (ARBs) Countryside financial Institutions, small and
medium enterprise and Overseas Filipino Workers (LCDFI);
 Engage in the business of general insurance brokerage management and consultancy

services in insurance-related activities (LIBI);
 Engage in the business of buying and selling of foreign currencies; and buying,
selling, importing, exporting and/or dealing in any manner, at wholesale or retail,
goods and merchandise (LIBI);
 Engage in direct lease or financial lease of all kinds of equipment, machineries,

vehicles, facilities, appliances and all types of personal and real properties (LLFC);
 Engage in the business of financing merchandise particularly but not limited to

appliance, automobile, and truck retail sales, agricultural machinery and equipment
and to engage in the business of commercial, agricultural and industrial financing,
factoring and/or leasing in all various forms, within and without the Republic of the
Philippines (LLFC);
 Extend credit facilities for and otherwise assist in the establishment, operation,
development, expansion and/or reorganization of industrial, commercial, agricultural
and other productive or profitable enterprises and to make loans without security
within the limits allowed by law (LLFC);
 Engage in the building, reconstructing, repair, remodelling and renovation, alteration

and improvement of private houses and dwellings, commercial buildings and
government owned and controlled corporations and establishments in support of its
role under the Comprehensive Agrarian Reform Program (LBRDC);
187
Annex B
 Engage in, operate and carry on, the business of providing and rendering general
manpower services, such as but not limited to management and technical services,
janitorial services, maintenance services, clerical messengerial, security services
and other allied services (LBRDC);
 Engage in and carry on the business of purchase and acquire, operate, maintain,
lease, sell and dispose of and deal in agricultural equipment and farm machineries
and all other articles pertaining to agriculture (MSI);
 Make available its farm equipment and machineries to the farmers, owner-
cultivators, agricultural lessees, tillers and/or other beneficiaries of land reform for
farm mechanization and development so as to obtain full utilization of lands and
enhancement of agricultural products (MSI);
 Engage in the business of purchase and sale, barter and exchange of rice and other
cereal and commodities of native production in the Philippines (MSI);
 Process tomato paste and subsequently process agri-based products, produce

alternative livelihood to Ilocano farmers, conduct agricultural research to improve
production technology and enhance productivity, and to conduct research on other
tomato-based products (NFC);
 Promote and safeguard the interests of the depositing public by way of providing
permanent and continuing insurance coverage on all insured deposits (PDIC);
 Strengthen the mandatory deposit insurance coverage system to generate, preserve,

maintain faith and confidence in the country’s banking system, and protect it from
illegal schemes and machinations (PDIC);
 Act as receiver/liquidator of closed banks and co-regulator of banks, in which it

collaborates with the BSP in promoting stability in the banking system and the
economy as a whole (PDIC); and
 Provide financial products and services tailored to the requirements of overseas

Filipinos and focused on delivering quality and efficient foreign remittance services
(OFBI).
This Cluster has auditorial jurisdiction over GOCCs in financing, insurance and other
related sectoral classifications. In general, the functions of these GOCCs include the
following:
 A funding mechanism to ensure the continuous payment of retirement and

separation benefits due to the members of the Armed Forces of the Philippines;
engage in various business operations to include the management of funds invested
in the stock market money market, treasury bills government and corporate bonds,
188
Annex B
corporate loans, consumer/member loans, real estate properties, and equity holdings
in subsidiaries and affiliates (AFPRSBS);
 Provide a complete and comprehensive package of benefits and services for workers
and their dependents in the event of work-related contingencies such as sickness,
injury, disability or death; restore dignity and self-esteem among occupationally
disabled workers; and safeguard the integrity of the State Insurance Fund (SIF). It
also undertake continuing studies and researches on occupational safety and health;
plan develop and implement training programs; serve as duly recognized agency for
testing and setting standard and specifications of personal protective equipment and
other safety devices; monitor work environment by use of industrial hygiene, field
and laboratory equipment; conduct medical examinations to workers exposed to
hazardous substances and detection of occupational diseases; assist the government
agencies and institutions to formulate policies and standards and issue technical
guidelines for the prevention of occupational safety and health on diseases and
accidents (ECC integrated with OSHC);
 Promote the welfare of the government employees through insurance system that
will provide for the retirement benefits and protect its members or their respective
beneficiaries against adverse economic effects of separation from service resulting
from sickness, death and old age; implement the laws that govern the social security
and insurance benefits of all employees; administer its funds, the Optional Life
Insurance Fund, Pre-Need Fund, Employees’ Compensation Insurance Fund and the
General Insurance Fund; and provide insurance coverage to assets and properties
that have government insurable interests (GSIS);
 To address two of the county’s basic needs: generation of savings and provide the
accessible fund for housing of every member (Filipino workers); and to administer a
sustainable fund with integrity, sound financial principles, and with social
responsibility. (HDMF);
 Acquire, purchase, own, hold, manage, administer, operate, develop, lease, pledge,
mortgage, exchange, sell, transfer or otherwise dispose of, in any manner permitted
by law, real and personal property with every kind and description, monies and
funds, or any interests therein as may be necessary to carry out the purposes and
objectives of the Corporation which has a mandate to operate a credit guaranty
program in support of government’s effort to promote home ownership; provide risk
guarantees and fiscal incentives for housing credits extended by financing
institutions, thereby stimulating the flow of funds from both the government and
private sectors for housing and urban development (HGC);
 Provide housing assistance to the lowest 30 percent of urban population through
slum upgrading, squatter relocation, development of sites and services and
construction of core housing units; provide technical and other forms of assistance to
local government units; implement the components of the National Shelter Program;
lead agency in the implementation of the Rail-related Relocation and Resettlement
program and in Disaster Rehabilitation and Recovery Phase, particularly for
families affected by calamities. (NHA)
 Develop and provide for a secondary market for home mortgages granted by public
and/or private home financing institutions; to develop a system that will attract
189
Annex B
private institutional funds into long-term housing mortgages; and to provide
amortization support to borrowers during the first five years of the term of their
housing loans under the Abot-kaya Pabahay Fund (AKPF) (NHMFC);
 An entity that supports the colonial renaissance of Intramuros and sets a standard of
excellence in building management, to maintain and enhance the facilities of Palacio
Del Gobernador as a significant architectural landmark, to provide high quality
services that ensure clean, safe and secure building environment. Managing and
holding title to the common areas of the eight-storey building
condominium(PDGCC);
 Implement comprehensive policies and programs to assist Micro, Small and

Medium Enterprises in all areas, including but not limited to finance and
information services, training and marketing (SBGFC);
 Undertake financing of social housing programs that will cater to the formal and
informal sectors in the low-income bracket and shall take charge of developing and
administering social housing program schemes with the Community Mortgage
Program (CMP) and the Amortization Support and Developmental Financing
Programs of the AKPF and other social housing program of the NHMFC (SHFC);
 Administers social security protection to workers in the private sector which will
provide replacement income for workers in times of death, disability, sickness,
maternity and old age; acts as insurer of all or part of its interest on properties
mortgage to the SSS. (SSS)
 To own, operate, maintain and manage water utilities including but not limited to
water distribution, deep well servicing, repair or rehabilitation of water systems and
operations of water refilling station/s; and to acquire, sell, lease, convey, mortgage
or encumber, and otherwise deal with any property or interest therein, or easement,
right or privilege over or in respect of any property, real or personal, as may be
permitted by law, also engaged in the ground maintenance services; and as may be
reasonably necessary to enable it to carry out the purposes for which the corporation
is created as may now be allowed by law (SUMSI); and
 Contribute to the country’s economic development as the Philippine Export-Import

Credit Agency providing guarantees, credits, insurance and technical assistance
services; promote and facilitate the entry of foreign loans into the country for the
development purposes having special regard to the needs of export-oriented
industries, industries which are registered with the Board of Investments, public
utilities and industries by which is encouraged by government policy; facilitate and
assists in the implementation of approved service contracts abroad entered into by
Philippine entities with foreign exchange earning potentials and provide technical
assistance in the preparation, financing and execution of development including the
formulation of specific project proposals, and implementation of actions that is
consistent with the primary purposes of the Corporation. (TIDCORP).
190
Annex B
This Cluster has audit jurisdiction over GOCCs which are classified as public utilities with
the following functions:
 Handle the printing of accountable forms and sensitive high quality/volume printing
jobs of the Philippine government agencies and offices (APO);
 Construct, operate, maintain and/or lease the light rail transit systems in the country
(LRTA);
 Promote, finance, and oversee the development of water supply systems in

provincial cities and municipalities outside of Metropolitan Manila (LWUA);
 Develop, operate and maintain waterworks, sewerage and irrigation systems to

ensure continuous supply and distribution of potable water in all the cities and
municipality of Metro Manila and some municipalities of Bulacan, Cavite and Rizal
(MWSS);
 Provide sustainable development in rural areas through rural electrification (NEA);
 To perform the missionary electrification function, through the Small Power

Utilities Group (SPUG), watershed management and the operation and maintenance
of all undisposed generation assets. (NPC);
 Explore, develop and accelerate the utilization and commercialization of existing

and emerging alternative sources of energy and technologies (PAFC);
 Acquire real property and buildings for investment incidental to the Corporation's
business (PDMC);
 Provide and maintain an adequate and stable supply of oil and petroleum products
for domestic requirement and engages in the exploration, exploitation and
development operations of other energy sources such as gas, coal, and geothermal
(PNOC);
 Lead in the exploration, development and production of the country's oil, gas and
coal resources (PNOC EC);
 Pursue and implement projects on new, renewable, non-conventional, and

environment-friendly energy sources and systems to ensure the country's self-
sufficiency in energy, foster allied activities of national interest for sustained
economic growth and for better quality of life (PNOC RC);
 To provide safe, reliable and affordable railway services as socio-economic

development tool within the framework of the national infrastructure system, while
ensuring sustainable operations so that optimum service can be rendered at a
minimum passenger and freight prices (PNR);
191
Annex B
 Establish, develop, regulate, manage and operate a national port system in support of
trade and development (PPA);
 Plan, develop, promote and operate a nationwide and universal postal system in the
country (PPC);
 Manage the sale and privatization of the NPC assets and IPP contracts and the
liquidation of NPC debts and stranded contract costs (PSALM);
 Engage in, conduct, manage and carry on the business of shipping, tankering,
lighterage, barging, towing, transport and shipment of goods, chattels, petroleum
and other products (PSTC);
 Ensure the compliance of the National Grid Corporation of the Philippines (NGCP)
with the Concession Agreement and policies of the Department of Energy (DOE)
consequent to the privatization of its transmission business (TransCo);
 Levy dues and impose rates and charges for the use of the premises, works,
appliances, facilities or for services provided by or belonging to the Authority, or
any other organization concerned with port operations, integrate and coordinate the
planning, development, construction and operations of ports and port facilities
within its territorial jurisdiction, consistent with the needs and requirements of the
region and to enhance the flow of international and domestic commerce passing
through or utilizing the regional ports (CPA- Region 7); and
 Mandated to entering into contracts for the building, equipping, operating and
maintenance of any railroad authorized by the Philippine government particularly in
Panay (PRI).
This Cluster consists of GOCCs in industrial, area development and others that fall under
the classification, with the following functions:
 Identify and develop sites in the country as prospective industrial areas and equip
these areas with the necessary infrastructures to encourage the inflow of domestic
and foreign investments;
 Develop certain areas declared as special economic zones into self-sustaining

industrial, commercial, financial, investment and academe centers to generate
employment opportunities in and around the zones and to attract and promote
productive foreign investments;
 Convert into alternative productive uses the Clark and Subic military reservations
and extensions, raise funds by the sale of portions of Metro Manila military camps,
apply said funds for the development and conversion to productive civilian use of
the lands covered under the 1947 Military Bases Agreement and promote the
192
Annex B
economic and social development of Central Luzon in particular and the country in
general;
 Convert underutilized land into valuable and income-generating real estate

properties;
 Support and develop tourism as an instrument in accelerating the development of the

country by preserving and projecting the country’s culture, history, tradition and
natural beauty, both internationally and domestically;
 Integrate and coordinate the planning, development, construction, and operation of

airports, and other facilities appurtenant thereto and provide safe and efficient air
transport and regulatory services in the Philippines; and
 Invest in pioneering and development-oriented projects where private investors are

unwilling or unable to venture into but are necessary for the country’s development.
This Cluster has auditorial jurisdiction over GOCCs with operations pertaining to
agricultural and natural resources. In general, the functions of these GOCCs include the
following:
 Promote the integrated growth and development of the grains industry covering rice,
corn, feed grains and other grains like sorghum, mongo, and peanut to provide food
security in the staple cereals in times and places of calamity or emergency, both
natural or man-made and to promote the stabilization of supply and prices of staple
cereals both at the farm gate and consumer levels (NFA);
 Provide prime location, quality facilities and services for businesses and to be a
strategic partner of the business sector by creating a conducive business
environment (FTI);
 Develop, maintain, operate, improve and rehabilitate irrigation systems including

communal and pump irrigation projects (NIA);
 Promote the rapid integrated development and growth of the coconut and other palm
oil industry in all its aspects and to ensure that the coconut farmers become direct
participants in, and beneficiaries of, such development and growth (PCA);
 Exercise supervision over the growth and development of the sugar industry through
greater and significant participation of the private sector and the improvement of the
working conditions of the sugar workers (SRA);
 Provide financing in the acquisition, rehabilitation and/or expansion of sugar mills,

refineries and other related facilities (PHILSUCOR);
193
Annex B
 Promote the development of the fishing industry and improve the efficiency in
marketing and distribution of fish and fishery/aquatic products through the
establishment and operation of fish port complexes throughout the country (PFDA);
 Ensure the accelerated development of the Philippine dairy industry (NDA);
 Improve the economic and living conditions and raise the quality of life of the
tobacco farmers including those who depend upon the industry for their livelihood;
and promote the balanced and integrated growth and development of the tobacco
industry to help make agriculture a solid base for industrialization (NTA);
 Operate and manage the Maharlika Livelihood Complex (HSDC);
 Conduct and carry on the business of exploring, developing, mining, concentrating,

converting, smelting, treating and otherwise developing, producing and dealing in
gold, silver, copper, iron and any and all kinds of minerals, mineral deposits,
substances and mineral resources (PMDC);
 Promote and undertake the development and use of technologies and systems that
complement the utilization of natural resources (NRDC);
 Provide insurance protection to the country’s agricultural producers, particularly the

subsistence farmers, against losses of their crops and non-crop agricultural assets
arising from natural calamities (such as typhoons, floods, droughts, earthquakes and
volcanic eruptions), plant pest and diseases, and/or other perils (PCIC);
 Accelerate the flow of investments and credit resources into the countryside so as to
trigger growth and development, rural productivity and enterprises thereby
generating more livelihood and income opportunities to farmers, fisherfolks, and
other rural entrepreneurs (QUEDANCOR);
 Serve as the coordinating center of a national network of rice research stations

located in the different agro-ecological regions of the country; plan and carry out
research and development activities, specifically in the areas of varietal
improvement, planting and fertilizer management, integrated pest management, farm
mechanization and post-harvest engineering, farming systems, training and
technology transfer, and social science and policy research; verify, package and
transfer economically viable technologies, giving emphasis on the social engineering
aspects necessary for group endeavor; provide the data base or policy formulation
that will stimulate and sustain rice production, marketing, and consumption;
organize and develop strong training programs for rice scientists, research managers,
and extension workers; and publish and disseminate research findings and
recommendations (PRRI); and
 Establish a commercially sustainable forest plantation in Bukidnon to serve as a

model for private sector forestry, capable of replication elsewhere in the Philippines
(BFI).
194
Annex B
This cluster has auditorial supervision and jurisdiction over GOCCs with operations
pertaining to social, cultural trading, promotional and other services. In general, the
functions of these GOCCs include the following:
 Provision of research, training and health care benefits, medical assistance, services
and charities of national character (PCSO);
 Centralization and integration of the right and authority to operate and conduct
games of chance in corporate entities to be controlled, administered and supervised
by the government (PAGCOR);
 Provision of quality health care through excellent service, training and research and
end referral center for the diagnostic treatment and rehabilitation of lung and chest
diseases (LCP);
 Prevention, diagnosis, rehabilitation and treatment of kidney and allied diseases

through dialysis and transplantation (NKTI);
 Provision of medical services for the treatment and prevention of pediatric diseases
(PCMC);
 Provision of cardiovascular care and management by being a center of world-class

facilities, expert health providers committed to patient care, education, research and
information dissemination (PHC);
 Promotion through organization and cooperation with other agencies, the ability of
boys to do things for themselves and others, to train in scout craft and to teach
them patriotism, courage, self-reliance, kindred virtues, using the methods which are
in common use by Boy Scout (BSoP);
 Promotion of the Philippines as a retirement haven providing the best quality of life
of targeted retirees, accelerate the social-economic development of the country and
strengthen its foreign exchange position (PRA);
 Unification of veterans throughout the country, provision of health care,

standardizing and upgrading the benefits of military veterans and their dependents,
sought membership with the Veterans Confederation of ASEAN countries (VFP);
 Establishment of micro, small and medium scale enterprises, trade fairs, special
exhibits, trade missions and other promotional activities here and abroad (CITEM);
 Operation of the duty and tax-free merchandising system in the Philippine to

augment the service facilities for tourists and to generate foreign exchange and
revenue for the government (DFPC);
 Promotion of Philippine art and Culture (NPF);
195
Annex B
 Provision of international trading and trade related activities, special trading
arrangements, importation and bulk procurement of commodities and industrial
products, cargo consolidation, shipping, bonded warehousing, foreign and domestic
procurement and outsourcing services, strategic marketing and joint-venture (PITC);
 Extension of financial assistance to a pharmaceutical firm engaged in the business of

research, development, production, manufacture, packaging, sale and/or distribution
of pharmaceutical products and/or investment and/or management of
investment in pharmaceuticals and related commercial venture (PPPI);
 Promotion of Philippines domestically and internationally as a major global tourists

destination (TPB);
 Provision to all citizens of the Philippines with a mechanism to gain financial access
to health services and to prioritize and accelerate the provision of health services to
all Filipinos especially the segment of the population who cannot afford such
services (PHIC);
 Provision of performance and exhibition venues for various local and international
productions, performances festivals, exhibitions, cultural research, outreach,
preservation, publication of materials on Philippine art and culture (CCP); and
 Development of selective human resource programs, data collection and information

services (DAP);
 Provision of media of mass communication such radio, television and/or

telecommunication stations and commercial or sustaining basis and to deal in the
manufacture and distribution of radio, television and other electronic components
and part thereof (IBC 13);
 Provision of broadcast support to the government (PTNI);
 Provision of financial and moral support to the research, teaching, training and other
programs of the School of Economics of University of the Philippines (PCED);
 Provision of assistance to the government planners and policy-makers in its planning

and policy formulation activities (PIDS); and
 Provision of safe, effective and affordable traditional and alternative health care
products, services and technology (PITAHC);
196
Annex C
List of Government Corporations with Acronyms and Status of Audit

as of December 31, 2018
Parent/
Non-
Name of Government Corporations Acronym Controlling GBE Status of Audit
GBE
Entity
Cluster 1 - Banking and Credit Cluster
1 Bangko Sentral ng Pilipinas BSP  With Annual Audit Report issued

2 Central Bank Board of Liquidators* CB-BOL BSP  With Annual Audit Report issued
3 Credit Information Corporation CIC BSP  With Annual Audit Report issued
4 Philippine International Convention Center, Inc. PICCI BSP  With Annual Audit Report issued
5 Development Bank of the Philippines DBP -  With Annual Audit Report issued
6 Al-Amanah Islamic Investment Bank of the Philippines AAIIBP DBP  With Annual Audit Report issued
7 DBP Data Center, Inc. DCI DBP  With Annual Audit Report issued
197
8 DBP Leasing Corporation DBPLC DBP  With Annual Audit Report issued
9 DBP Management Corporation DBPMC DBP  With Annual Audit Report issued
10 Land Bank of the Philippines LBP -  With Annual Audit Report issued
11 Landbank Countryside Development Foundation, Inc. LCDFI LBP  With Annual Audit Report issued
12 Land Bank Resources and Development Corporation LBRDC LBP  With Annual Audit Report issued
13 LBP Insurance Brokerage, Inc. LIBI LBP  With Annual Audit Report issued
14 LBP Leasing and Finance Corporation LLFC LBP  With Annual Audit Report issued
15 Masaganang Sakahan, Inc. MSI LBP  With Annual Audit Report issued
16 Overseas Filipino Bank, Inc. OFBI LBP  With Annual Audit Report issued
17 Northern Food Corporation NFC -  With Annual Audit Report issued
18 Philippine Deposit Insurance Corporation PDIC -  With Annual Audit Report issued
1 AFP Retirement and Separation Benefits System AFPRSBS  With Annual Audit Report issued
2 Employees’ Compensation Commission ECC  With Annual Audit Report issued
3 Southern Utilities Management Services, Inc. SUMSI AFPRSBS  With Annual Audit Report issued
4 Government Service Insurance System GSIS  With Annual Audit Report issued
5 Home Development Mutual Fund HDMF  With Annual Audit Report issued
Annex C
Parent/
Non-
GBE
Entity
6 Home Guaranty Corporation HGC  With Annual Audit Report issued
7 National Home Mortgage Finance Corporation NHMFC  With Annual Audit Report issued
8 Social Housing Finance Corporation SHFC NHMFC  With Annual Audit Report issued
9 National Housing Authority NHA  With Annual Audit Report issued
10 Palacio Del Gobernador Condominium Corporation PDGCC  With Annual Audit Report issued
11 Small Business Guarantee and Finance Corporation SBGFC  With Annual Audit Report issued
12 Social Security System SSS  Unaudited Financial Statements
13 Trade and Investment Development Corporation of the TIDCORP/ With Annual Audit Report issued

Philippines PhilEXIM
1 APO Production Unit, Inc. APO  With Annual Audit Report issued
2 Light Rail Transit Authority LRTA  With Annual Audit Report issued
3 Local Water Utilities Administration LWUA  With Annual Audit Report issued
198
4 Metropolitan Waterworks and Sewerage System MWSS  With Annual Audit Report issued
5 National Electrification Administration NEA  With Annual Audit Report issued
6 National Power Corporation NPC  With Annual Audit Report issued
7 Philippine National Oil Company PNOC  With Annual Audit Report issued
8 PNOC Alternative Fuels Corporation PNOC-AFC PNOC  With Annual Audit Report issued
9 PNOC Development and Management Corporation PNOC-DMC PNOC  With Annual Audit Report issued
10 PNOC Exploration Corporation PNOC-EC PNOC  With Annual Audit Report issued
11 PNOC Renewables Corporation PNOC-RC PNOC  With Annual Audit Report issued
12 PNOC Shipping and Transport Corporation PNOC-STC PNOC  With Annual Audit Report issued
13 Philippine National Railways PNR  With Annual Audit Report issued
14 Philippine Ports Authority PPA  With Annual Audit Report issued
15 Philippine Postal Corporation PPC  With Annual Audit Report issued
16 Power Sector Assets and Liabilities Management Corporation PSALM  With Annual Audit Report issued
17 National Transmission Corporation TransCo PSALM  With Annual Audit Report issued
18 Cebu Port Authority CPA  With Annual Audit Report issued
19 Panay Railways, Incorporated PRI  CY 2018 transactions are still for audit
Annex C
Parent/
Non-
GBE
Entity
1 Aurora Pacific Economic Zone and Freeport Authority APECO  With Annual Audit Report issued
2 Authority of the Freeport Area of Bataan AFAB(BEPZ)  With Annual Audit Report issued
3 Bases Conversion and Development Authority BCDA  With Annual Audit Report issued
4 BCDA Management and Holdings, Incorporated BMHI BCDA  With Annual Audit Report issued
5 Clark Development Corporation CDC BCDA  With Annual Audit Report issued
6 Subic-Clark Alliance for Development SCAD  With Annual Audit Report issued
7 Clark International Airport Corporation CIAC BCDA  With Annual Audit Report issued
8 John Hay Management Corporation JHMC BCDA  With Annual Audit Report issued
9 North Luzon Railways Corporation NORTHRAIL BCDA  With Annual Audit Report issued
10 Poro Point Management Corporation PPMC BCDA  With Annual Audit Report issued
11 Cagayan Economic Zone Authority CEZA  With Annual Audit Report issued
12 Northeastern Luzon Pacific Coastal Service, Incorporated NLPCSI  With Annual Audit Report issued
13 Civil Aviation Authority of the Philippines CAAP  With Annual Audit Report issued
199
14 Laguna Lake Development Authority LLDA  With Annual Audit Report issued
15 Mactan-Cebu International Airport Authority MCIAA  With Annual Audit Report issued
16 Manila International Airport Authority MIAA  With Annual Audit Report issued
17 Marawi Resort Hotels, Incorporated MRHI  Unaudited Financial Statements
18 National Development Company NDC  With Annual Audit Report issued
19 Batangas Land Company, Incorporated BLCI NDC  With Annual Audit Report issued
20 First Cavite Industrial Estate, Incorporated FCIEI NDC  With Annual Audit Report issued
21 GY Realty Estate, Incorporated GYREI NDC  With Annual Audit Report issued
22 Inter-Island Gas Services, Incorporated IIGSI NDC  With Annual Audit Report issued
23 Kamayan Realty Corporation KRC NDC  With Annual Audit Report issued
24 Manila Gas Corporation MGC NDC  With Annual Audit Report issued
25 NDC-Philippine Infrastructure Corporation NPIC NDC  With Annual Audit Report issued
26 Pinagkaisa Realty Corporation PRC NDC  With Annual Audit Report issued
27 Partido Development Administration PDA  With Annual Audit Report issued
28 Philippine Aerospace Development Corporation PADC  With Annual Audit Report issued
29 Philippine Economic Zone Authority PEZA  With Annual Audit Report issued
30 Philippine National Construction Corporation PNCC  With Annual Audit Report issued
31 Alabang- Sto.Tomas Development, Incorporated ASDI PNCC  With Annual Audit Report issued
32 CDCP Farms Corporation CDCP-FC PNCC  With Annual Audit Report issued
Annex C
Parent/
Non-
GBE
Entity
33 DISC Contractors Builders and General Services, Inc. DISCCBGSI PNCC  With Annual Audit Report issued
34 Philippine Reclamation Authority PRecA  With Annual Audit Report issued
35 PEA Tollway Corporation PEATC PRecA  With Annual Audit Report issued
36 PHIVIDEC Industrial Authority PIA  With Annual Audit Report issued
37 Southern Philippines Development Authority SPDA  With Annual Audit Report issued
38 Subic Bay Metropolitan Authority SBMA  With Annual Audit Report issued
39 Tourism Infrastructure and Enterprise Zone Authority TIEZA  With Annual Audit Report issued
40 Corregidor Foundation, Inc. CFI TIEZA  With Annual Audit Report issued
41 Zamboanga City Special Economic Zone Authority ZCSEZA  With Annual Audit Report issued
1 National Food Authority NFA  With Annual Audit Report issued

2 Food Terminal, Inc. FTI NFA  With Annual Audit Report issued
3 National Irrigation Administration NIA  With Annual Audit Report issued
200
4 Philippine Coconut Authority PCA  With Annual Audit Report issued

5 Sugar Regulatory Administration SRA  With Annual Audit Report issued
6 Philippine Sugar Corporation PHILSUCOR  With Annual Audit Report issued
7 Philippine Fisheries Development Authority PFDA  With Annual Audit Report issued
8 National Dairy Authority NDA  With Annual Audit Report issued
9 National Tobacco Administration NTA  With Annual Audit Report issued
10 Human Settlements Development Corporation HSDC  With Annual Audit Report issued
11 Natural Resources Development Corporation NRDC  With Annual Audit Report issued
12 Philippine Mining Development Corporation PMDC NRDC  With Annual Audit Report issued
13 Philippine Crop Insurance Corporation PCIC  With Management Letter issued
14 Quedan and Rural Credit Guarantee Corporation QUEDANCOR  With Annual Audit Report issued
15 Philippine Rice Research Institute PRRI  With Annual Audit Report issued
16 Bukidnon Forests, Inc. BFI  With Management Letter issued
1 Philippine Charity Sweepstakes Office PCSO  With Annual Audit Report issued
2 Philippine Amusement and Gaming Corporation PAGCOR  With Annual Audit Report issued
3 Lung Center of the Philippines LCP  With Annual Audit Report issued
Annex C
Parent/
Non-
GBE
Entity
4 National Kidney and Transplant Institute NKTI  With Annual Audit Report issued
5 Philippine Children's Medical Center PCMC  With Annual Audit Report issued
6 Philippine Heart Center PHC  With Annual Audit Report issued
7 Boy Scouts of the Philippines BSoP  With Annual Audit Report issued
8 Philippine Retirement Authority PRA  With Annual Audit Report issued
9 Veterans Federation of the Philippines VFP  With Annual Audit Report issued
10 Center for International Trade Expositions and Missions CITEM  With Annual Audit Report issued
11 Duty Free Philippines Corporation DFPC  With Management Letter issued
12 Nayong Pilipino Foundation NPF  With Management Letter issued
13 Philippine International Trading Corporation PITC  With Annual Audit Report issued
14 Philippine Pharma Procurement, Inc. PPPI  With Annual Audit Report issued
15 Tourism Promotions Board TPB  With Annual Audit Report issued
16 Philippine Health Insurance Corporation** PHIC  With Annual Audit Report issued
17 Cultural Center of the Philippines CCP  With Annual Audit Report issued
201
18 Development Academy of the Philippines DAP  With Annual Audit Report issued
19 Intercontinental Broadcasting Corporation IBC 13  With Annual Audit Report issued
20 People's Television Network, Inc. PTNI  With Annual Audit Report issued
21 Philippine Center on Economic Development PCED  With Annual Audit Report issued
22 Philippine Institute for Development Studies PIDS  With Annual Audit Report issued
23 Philippine Institute of Traditional and Alternative Health Care PITAHC  With Annual Audit Report issued
* FS as of July 2, 2018 not included in the CY 2018 AFR end of term (CB-BOL)
**Reclassified as GBE as of January 30, 2018 based on COA Resolution No. 2018-001 dated January 30, 2018 (PHIC)
Annex D
List of Government Corporations and Accounting Standards Adopted

Calendar Year 2018
GAAP/
No. Name of Government Corporations ACRONYM PARENT GBE Non -GBE PFRS/PAS PPSAS
NGAS
TOTAL 84 42 81 42 3
1 AFP Retirement and Separation Benefits System AFPRSBS 1 1
2 Alabang Sto. Tomas Development, Inc. ASDI PNCC 1 1
3 Al-Amanah Islamic Investment Bank of the Philippines AAIIBP DBP 1 1
4 APO Production Unit, Inc. APO 1 1
5 Aurora Pacific Economic Zone Authority and Freeport Authority APECO 1 1
6 Authority of the Freeport Area of Bataan AFAB 1 1
7 Bangko Sentral ng Pilipinas (w/ Philippine International Convention Center, Inc.) BSP 1 1
8 Bases Conversion and Development Authority BCDA 1 1
9 Batangas Land Company, Inc. BLCI NDC 1 1
10 BCDA Management and Holdings, Inc. BMHI BCDA 1 1
11 Boy Scouts of the Philippines BSoP 1 1
202
12 Cagayan Economic Zone Authority CEZA 1 1

13 CDCP Farms Corporation CDCP-FC PNCC 1 1
14 Cebu Port Authority CPA 1 1
15 Center for International Trade Expositions and Missions CITEM 1 1
16 Central Bank Board of Liquidators* CB-BOL BSP 1 1
17 Civil Aviation Authority of the Philippines CAAP 1 1
18 Clark Development Corporation CDC BCDA 1 1
19 Clark International Airport Corporation CIAC BCDA 1 1
20 Corregidor Foundation, Inc. CFI 1 1
21 Credit Information Corporation CIC BSP 1 1
22 Cultural Center of the Philippines CCP 1 1
23 DBP Data Center, Inc. DCI DBP 1 1
24 DBP Leasing Corporation DBPLC DBP 1 1
25 DBP Management Corporation DBPMC DBP 1 1
26 Development Academy of the Philippines DAP 1 1
27 Development Bank of the Philippines DBP 1 1
28 DISC Contractors Builders and General Services, Inc. DISCCBGSI PNCC 1 1
30 First Cavite Industrial Estate Inc. FCIEI NDC 1 1
29 Employees’ Compensation Commission ECC 1 1
Annex D
No. Name of Government Corporations ACRONYM PARENT GBE Non -GBE PFRS/ PAS PPSAS GAAP
31 Food Terminal, Inc. FTI 1 1
32 Government Service Insurance System GSIS 1 1
33 GY Realty Estate, Inc. GYREI NDC 1 1
34 Home Development Mutual Fund HDMF 1 1
35 Home Guaranty Corporation HGC 1 1
36 Human Settlements Development Corporation HSDC 1 1
37 Intercontinental Broadcasting Corporation IBC 13 1 1
38 Inter-Island Gas Services, Inc. IIGSI NDC 1 1
39 John Hay Management Corporation JHMC BCDA 1 1
40 Kamayan Realty Corporation KRC NDC 1 1
41 Laguna Lake Development Authority LLDA 1 1
42 Land Bank of the Philippines LBP 1 1
43 Land Bank Resources and Development Corporation LBRDC LBP 1 1
44 Landbank Countryside Development Foundation, Inc. LCDFI LBP 1 1
45 LBP Insurance Brokerage, Inc. LIBI LBP 1 1
46 LBP Leasing and Finance Corporation LLFC LBP 1 1
47 Light Rail Transit Authority LRTA 1 1
203
48 Local Water Utilities Administration LWUA 1 1

49 Lung Center of the Philippines LCP 1 1
50 Mactan-Cebu International Airport Authority MCIAA 1 1
51 Manila Gas Corporation MGC NDC 1 1
52 Manila International Airport Authority MIAA 1 1
53 Marawi Resort Hotels, Inc. MRHI 1 1
54 Masaganang Sakahan, Inc. MSI LBP 1 1
55 Metropolitan Waterworks and Sewerage System MWSS 1 1
56 National Dairy Authority NDA 1 1
57 National Development Company NDC 1 1
58 National Electrification Administration NEA 1 1
59 National Food Authority NFA 1 1
60 National Home Mortgage Finance Corporation NHMFC 1 1
61 National Housing Authority NHA 1 1
62 National Irrigation Administration NIA 1 1
63 National Kidney and Transplant Institute NKTI 1 1
64 National Power Corporation NPC 1 1
65 National Tobacco Administration NTA 1 1
66 National Transmission Corporation TransCo PSALM 1 1
Annex D
67 Natural Resources Development Corporation NRDC 1 1
68 NDC-Philippine Infrastructure Corporation NPIC NDC 1 1
69 North Luzon Railways Corporation NORTHRAIL BCDA 1 1
70 Northeastern Luzon Pacific Coastal Services, Inc. NLPCSI CEZA 1 1
71 Northern Foods Corporation NFC 1 1
72 Overseas Filipino Bank, Inc. OFBI LBP 1 1
73 Palacio Del Gobernador Condominium Corporation PDGCC 1 1
74 Panay Railways, Incorporated PRI 1 1
75 Partido Development Administration PDA 1 1
76 PEA Tollway Corporation PEATC PRA 1 1
77 People's Television Network, Inc. PTNI 1 1
78 Philippine Aerospace Development Corporation PADC 1 1
79 Philippine Amusement and Gaming Corporation PAGCOR 1 1
80 Philippine Children's Medical Center PCMC 1 1
81 Philippine Center for Economic Development PCED 1 1
82 Philippine Charity Sweepstakes Office PCSO 1 1
83 Philippine Coconut Authority PCA 1 1
204
84 Philippine Crop Insurance Corporation PCIC 1 1

85 Philippine Deposit Insurance Corporation PDIC 1 1
86 Philippine Economic Zone Authority PEZA 1 1
87 Philippine Fisheries Development Authority PFDA 1 1
88 Philippine Health Insurance Corporation PHIC 1 1
89 Philippine Heart Center PHC 1 1
90 Philippine Institute for Development Studies PIDS 1 1
91 Philippine Institute of Traditional and Alternative Health Care PITAHC 1 1
92 Philippine International Trading Corporation PITC 1 1
93 Philippine Mining Development Corporation PMDC NRDC 1 1
94 Philippine National Construction Corporation PNCC 1 1
95 Philippine National Oil Company PNOC 1 1
96 Philippine National Railways PNR 1 1
97 Philippine Pharma Procurement, Inc PPPI 1 1
98 Philippine Ports Authority PPA 1 1
99 Philippine Postal Corporation PPC 1 1
100 Philippine Reclamation Authority PRecA 1 1
101 Philippine Retirement Authority PRA 1 1
102 Philippine Rice Research Institute PRRI 1 1
Annex D
103 Philippine Sugar Corporation PHILSUCOR 1 1
104 PHIVIDEC Industrial Authority PIA 1 1
105 Pinagkaisa Realty Corporation PRC NDC 1 1
106 PNOC Alternative Fuels Corporation PNOC-AFC PNOC 1 1
107 PNOC Development and Management Corporation PNOC-DMC PNOC 1 1
108 PNOC Exploration Corporation PNOC-EC PNOC 1 1
109 PNOC Renewables Corporation PNOC-RC PNOC 1 1
110 PNOC Shipping and Transport Corporation PNOC-STC PNOC 1 1
111 Poro Point Management Corporation PPMC BCDA 1 1
112 Power Sector Assets and Liabilities Management Corporation PSALM 1 1
113 Quedan and Rural Credit Guarantee Corporation QUEDANCOR 1 1
114 Small Business Guarantee and Finance Corporation SBGFC 1 1
115 Social Housing Finance Corporation SHFC NHMFC 1 1
116 Social Security System SSS 1 1
117 Southern Philippines Development Authority SPDA 1 1
118 Southern Utilities Management Services, Inc. SUMSI 1 1
119 Subic Bay Metropolitan Authority SBMA 1 1
205
120 Subic-Clark Alliance for Development SCAD 1 1

121 Sugar Regulatory Administration SRA 1 1
122 Tourism Infrastructure and Enterprise Zone Authority TIEZA 1 1
123 Tourism Promotions Board TPB 1 1
124 Trade and Investment Development Corporation of the Philippines TIDCORP/ 1 1
125 Veterans Federation of the Philippines PhilEXIM
VFP 1 1
126 Zamboanga City Special Economic Zone Authority ZCSEZA 1 1
*With AAR; FS as of July 2, 2018 not included in the CY 2018 AFR end of term (CB-BOL)
Annex E
List of Government Corporations with

Unsubmitted Financial Statements
Name of Government Corporations Reason for exclusion

A. GCs located in the National Capital Region
1 Nayong Pilipino Foundation Unsubmitted FSs for CY 2018. Management
Letter was issued in lieu of the AARs.
2 Duty Free of the Philippines Unsubmitted FSs for CY 2018. Management

B. Stand-alone GC located in the Region

1 Bukidnon Forest, Incorporated Unsubmitted FSs for CY 2018. Management
206
PART IV
SUMMARY
OF
AUDIT RESULTS
Part IV
Summary of Audit Results
Pursuant to Section 4, Article IX-D of the 1987 Philippine Constitution and Section 41(1) of
P.D. No. 1445, the Commission on Audit submits to the President and the Congress, within
the time fixed by law, an annual report covering the financial condition and operation of the
Government, its subdivisions, agencies, and instrumentalities, including government-owned
or controlled corporations, and non-governmental entities subject to its audit, and recommend
measures necessary to improve their effectiveness and efficiency.
The annual report is a consolidation of Annual Audit Reports (AARs) and Management
Letters (MLs) for the calendar year ended submitted by the heads of the audit groups, through
the Commission, to the heads and the governing bodies of the agencies concerned pursuant to
Section 43(2) of P.D. 1445.
The AAR is a report prepared at year-end on the results of audit on the accounts and
operations of a GC, which was examined by the Commission on Audit in accordance with the
International Standards of Supreme Audit Institutions and the pertinent provisions of P.D.
1445. The primary purpose of the examination is to render an opinion on the financial
statements based on the results of audit.
The AARs include the: (a) independent auditor’s opinion on the financial statements; (b)
audit observations with the corresponding recommendations; and (c) status of implementation
of prior years’ audit recommendations.
The ML is an audit report on the results of audit of GCs with complete set of books of
accounts but with no financial statements submitted as of the deadline set by the COA.
This report includes 455 AARs with Independent Auditor’s Report/audit opinion on GCs
which submitted financial statements, and 27 MLs on agencies which did not submit financial
statements for CY 2018. These represent the total number of AARs and MLs received as of
July 31, 2018 from the Clusters and Regions for this report’s consolidation.
The individual AARs and MLs of the GCs are published in the COA website at
http://www.coa.gov.ph, which provide a more detailed information and discussion on the said
reports.
Summary of audit opinions

The independent auditor’s opinion rendered on the fairness of presentation of each GC’s
financial statements is a representation and sole responsibility of the auditor concerned, while
the respective GC Management is responsible in the preparation and fair presentation of the
financial statements in accordance with the applicable financial reporting framework.
The audit opinion expressed on each of the GCs’ financial statements contained in the
Independent Auditor’s Report is summarized in Table IV-5. The following are the types of
audit opinion:
207
TYPES OF AUDIT OPINION
UNMODIFIED M OD IFIE D OP IN ION S
UNQUALIFIED QUALIFIED ADVERSE DISCLAIMER

“U” “Q” “A” “D”
- is expressed when - is expressed when - is expressed when - is issued when the

the auditor the auditor: the auditor, having auditor is unable to
concludes that the (a) having obtained obtained sufficient obtain sufficient
financial statements, sufficient appropriate audit appropriate audit
in all material appropriate audit evidence, evidence on which
respects, are evidence, con- concludes that the to base the opinion,
presented fairly in cludes that misstate- misstate-ment/s, and concludes that
accordance with the ments, individually individually or in the possible effects
applicable or in the aggregate, the aggregate, are on the financial
Philippine Financial are material, but not both material and state-ments of
Reporting Standards pervasive, to the pervasive to the undetected
and Philippine financial statements; financial misstatements, if
Accounting or (b) is unable to statements. any, could be both
Standards. obtain sufficient material and
appropriate audit pervasive. The
evidence on which Auditor disclaims an
to base the audit opinion when, in
opinion, but con- extremely rare
cludes that the circumstances
possible effects on involving multiple
the financial state- uncertainties, the
ments of undetected auditor concludes
misstatements, if that,
any, could be notwithstanding
material but not having obtained
pervasive. sufficient
appropriate audit
evidence regarding
each of the
individual uncertain-
ties, it is not possible
to form an opinion
on the financial
state-ments due to
the potential
interaction of the
uncertainties and
their possible
cumulative effect on
the financial state-
ments.
208
A total of 455 AARs of GCs for CY 2018 were issued with Independent Auditor’s
Report/Audit Opinion, the summary of which follows:
Chart IV-1 Total Opinions Rendered per Type
280
260
240
220
200
180
Unmodified/Unqualified
160
Qualified
140
Adverse
120
Disclaimer
100
80
60
40
20
131 263 48 14
0
The tabulated types of audit opinions rendered on the financial statements of water districts
are presented in Volume II of the AFR.
Summary of significant and common audit observations and corresponding

recommendations
The following matrices summarizes: (a) the significant and peculiar observations unique to
each agency; and (b) those equally significant but common observations among several GCs.
These summaries were lifted from the AARs of the GCs and are shown in Tables IV-1, IV-
2A and IV-2B, presented by agency in alphabetical order.
In view of the detailed lay-out and agency specific information presented in the individual
AARs, the data and discussion therein shall necessarily prevail over the summarized
information presented in this report.
209
Table IV-1 Summary of Selected Significant and Peculiar Audit
Observations and Recommendations of GCs in the NCR and Stand-Alone
Agencies in the Regions
Amount
Selected Observations Recommendations
(in thousands)
APO Production Unit (APO)
The APO’s profit share of 30 a. Enforce the provisions of the NQ
percent from the APO-United APO-UGEC JV on its right
Graphic Expression to negotiate with UGEC for
Corporation Joint Venture the revision on increases of
(APO-UGEC JV), the amount profit sharing ratio and the
used as basis for profit sharing amount of basis of profit
and the APO-UGEC JV’s sharing in order to increase
declining Net Income APO’s Profit Share from the
percentage to Annual Net APO-UGEC JV which will
Sales despite growing Annual be beneficial to the
Net Sales for CYs 2016-2018 government;
appears disadvantageous to
APO because it resulted to b. Review the provisions of the
lower revenue share. JV contract and to initiate
changes to make the partners
Likewise, the current profit obligations clear and specific;
sharing ratio of 30-70 percent
and base amount of P900 c. Assign the Internal Audit
mil-lion Net Sales, have not personnel to inspect and
been amended contrary to examine the JV’s quarterly
Item 4.18 of the Joint and annual financial
Venture Agreement (JVA) statements to determine the
which allows the increase of validity and propriety of
APO’s profit share from the expenditures and
APO-UGEC JV considering correctness/accuracy of the
APO’s goodwill which reported Net Income and
guaranteed clientele through Share of Income; and
its captured market even
prior to the execution of the d. Provide information who
JV, and despite the rising Net was/were being paid
Sales, due to APO’s failure to Management Fees by the
take remedial actions. APO-UGEC JV and submit
an explanation on the
Furthermore, the payment of payment of such fees in the
APO-UGEC JV Management absence of stipulation in the
Fees totaling P134.293 JVA.
million covering CYs 2015-
2017 without said provisions
in the Joint Venture
Agreement (JVA), is likewise
disadvantageous to APO.
210
Amount
(in thousands)
Bases Conversion and Development Authority (BCDA)

Deficiencies were noted a. Take appropriate action to 46,398
pertinent to the Supplemental recover the full amount
Implementing Agreement withheld by Megaworld as
between BCDA and LCA from December 15,
Megaworld, as follows: 2008, the date when the first
remittance of proceeds from
1. Non-recovery of the full the sale and lease of allocated
amount of Land lots/units was made, up to
Compensation Amount November 8, 2012;
(LCA) previously
deducted by Megaworld b. Initiate action on the
from BCDA’s net enforcement of interest on
proceeds from the sale of the late allocation of units/
its allocated units. remittance of net proceeds
from sale or lease of BCDA’s
2. Allocation for the allocated units in the 3-
condominium/residential hectare freed up area as
and parking units on the provided in Section 3.4 of the
3-hectare freed up area JVA; and
was not made within six
months from clearing, c. Submit the basis for the new
relocation and sharing percentage agreed
replication of structures, upon in the Supplemental
contrary to Section 2.5 of Implementing Agreement.
the Joint Venture
Agreement (JVA), which
resulted in the delay of
remittance of proceeds
from sale and lease of
BCDA units. Payment of
interest due to delay of
remittance was not
imposed contrary to
Section 3.4 of the JVA;
and
3. Basis of allocation
percentage between
BCDA and Megaworld
was not submitted to the
Commission on Audit.
211
Amount
(in thousands)
Boy Scouts of the Philippines (BSoP)

The reasonableness and a. Conduct examination, NQ
accuracy of the actual shares inspection and audit of the
of 15,885 square meters (sq. complete transaction records
m.) of the BSoP from of the JV “Project” including
Towers 1 to 3, Podium, and but not limited to the
126 Parking Slots for contract, payments, billings,
Basement 1 to 5, as specified invoices, purchase orders,
in the 1st Supplement to JVA following three business’
between the BSoP and days prior written notice, as
Alphaland Makati Place, Inc. stipulated in Item 5.4 of the
(AMPI), cannot be JVA;
ascertained due to:
1. Variances noted b. Request from AMPI original
between the computed copies of Condominium
15% BSoP shares of Certificates of Title for the
18,001 sq. m. for BSoP share in Basements 1
Towers 1 to 3 and to 3, and the entire project’s
Podium and 127 parking design/as-built-plan/actual
slots based on the fact floor plan and other relevant
sheets furnished by documents; and
AMPI vis-a-vis the
actual shares of 15,885 c. Expedite compliance with the
sq.m. based on the stipulation in Item 6 of the
identified units in 1st Supplement to JVA for
Annexes B & C of the the Parties to come up with
1st Supplement to JVA; another supplement on the
sharing of profits in the
2. Non-submission of operation of Tower 3 with
Condominium due consideration to the
Certificates of Title change in its use.
(CCTs) for 64 parking
slots in Basement 1 to 3;
3. Non-compliance by the
Parties to the stipulation
under Item 6 of the 1st
Supplement to JVA as
regards the
determination of the
share of BSoP in Tower
3 after the completion
of the plan; and
4. Non-submission of
project design/as-built-
plan/actual floor plan
212
Amount
(in thousands)
and other relevant
documents for the said
project.
The BSoP was unable to Ensure that the stipulations in all NQ
enforce compliance by its JV JVAs be observed by all
partner with the provisions of concerned parties and any
the Joint Venture Agreement changes and/or modifications
(JVA), particularly Item E of thereto shall be covered by an
the JVA as regards the amended/supplemental JVA.
construction of a Boy Scouts
Convention Center that will
promote the primary purpose
of the BSoP, thus defeating
its intention of entering into a
JVA since the possibility of
having a Boy Scouts
Convention Center is remote
taking into consideration the
structural design and physical
condition of the Podium.
Civil Aviation Authority of the Philippines (CAAP)

Investment in United a. Recover the full amount of 500,000
Coconut Planter’s Life P500 million paid to
Assurance Corporation COCOLIFE;
(COCOLIFE) for a single-
pay variable life insurance in b. Invest idle funds in a
the amount of P500 million government facility which
is: (a) without approval by yields higher returns but less
the Board; (b) without in- risky by properly evaluating/
depth study prior to the conducting study on options
investment; and (c) with no on where to invest idle funds
adequate criteria for the taking into account not only
selection of the insured 10 the income that will be
keymen. earned but also the costs to
be incurred with the proper
approval of the Board; and
c. Consider creating an
Investment Group/
Committee that will handle
the fiduciary responsibilities
of CAAP.
213
Amount
(in thousands)
Cultural Center of the Philippines (CCP)

There were 13,444 copies of a. Adequately/properly plan the 8,499
various books/items quantity of each publication
amounting to P8.499 million or inventory to be
as of December 31, 2018 produced/procured to avoid
produced/ over production/excessive
published/procured by the publication and
CCP aged more than five obsolescence;
years from the year of
production/ procurement b. Consider the disposal of the
which remained unsold, 13,444 copies of books/items
undisposed, and some were produced/published/procured,
already obsolete or damaged. aged more than five years
Thus, an indication of over from the year of production/
production/procurement due procurement, through public
to inadequate planning and auction or donation to
non-monitoring of schools and other
inventories, which resulted in government entities in
wastage of government accordance with existing
resources, contrary to Section rules and regulations; and
2 of P.D. No. 1445. c. Henceforth, regularly
monitor the inventories held
for sale from date of
publication/ procurement
until sold or disposed, to
facilitate creation of
historical data as
reference/guide in effective
planning.
Cagayan Economic Zone Authority (CEZA)

CEZA has not received its 20 a. Demand HIC to submit all US$430,150
per cent share in the issued I- the documents to support the
Cards amounting to total number of I-Cards that
US$430,150 by Hybrid Info HIC manufactured and issued
Corporation (HIC) which to CEZA from CYs 2014 to
was agreed in the 2016 and require the
Memorandum of remittance to the Authority
Understanding resulting in its 20 per cent share
the understatement of income therefrom; and
for the period 2014 to 2016.
b. Conduct an in-depth
investigation on CEZA
officers and employees
involved in the issuance of
the assailed I-Cards and file
the necessary charges, if
214
Amount
(in thousands)
warranted.
Development Academy of the Philippines (DAP)

The cost of the audit services Reiteration of the prior year’s 46,338
from CYs 1990 to 2018 audit recommendations :
amounting to P46.338
million was not remitted to a. Settle the latest assessment/
the Bureau of the Treasury billing received from COA
(BTr), contrary to the for the cost of audit; and
provisions of the
Commission on Audit (COA) b. Develop a payment scheme
and Department of Budget to settle the unpaid
and Management (DBM) balances in compliance
Joint Circular No. 88-1 dated with the provisions of COA
July 29, 1988 and related and DBM Joint Circular
issuances. No. 88-1 dated July 29,
1988 and other related
issuances.
Development Bank of the Philippines (DBP)

The loan proceeds of 580 Revisit the policy to include the NQ
Investment Enterprises/sub- specific purposes where DBP
borrowers were not utilized funds for wholesale lending shall
for business-related purposes, be utilized by Investment
contrary to the pertinent Enterprises/sub-borrowers.
provisions of Executive
Order No. 81 and
Development Sector-Small
and Medium Enterprises
Wholesale Lending
Department Desk Manual;
hence, prejudicial to the
objective of the wholesale
lending program in providing
assistance to agricultural and
industrial enterprises.
DBP Leasing Corporation (DBPLC)

DBPLC did not impose the Revisit the lease agreements and 26,544
required lease guaranty DBPLC’s written policies and
deposit on one client with 14 procedures approved by the
lease availment transactions Board, to include and describe in
contrary to the general terms sufficient detail conditions on
and conditions in DBPLC’s imposition of guaranty deposit.
Product Manual for Finance
Lease Receivable; hence,
may put the DBPLC and the
215
Amount
(in thousands)
government’s interest at risk.
Duty Free Philippines Corporation (DFPC)

The DFPC could have saved a. Exercise prudence in the use 144,305
on pre-occupancy rent of government resources. In
expenses amounting to future similar project,
P144.305 million and other conduct a thorough feasibility
related costs had it study to determine its
properly/judiciously planned viability;
its project of opening a Duty b. Plan meticulously and
Free store outlets at the judiciously all procurements
Ninoy Aquino International to avoid wastage of
Airport (NAIA) Terminal 3 government funds. For
before entering into a Lease infrastructure projects,
and Concession Contract with consider the appropriate
the Manila International timing/phasing of the project
Airport Authority (MIAA), as activities in compliance with
required under Rule II, the pertinent provisions of
Section 7.1 of the 2016 RA No. 9184 and its Revised
Revised Implementing Rules IRR;
and Regulations (IRR) of RA c. Negotiate with MIAA
No. 9184 or the Government Management for the latter to
Procurement Reform Act. absorb the cost of the
Electrical Power and HVAC
System intended for Level 2
store outlet which was
abandoned by DFPC, through
negotiated sale or offsetting
of the monthly rental in the
Level 1 Store outlet. If not
feasible, sell the fixture and
equipment and charge the
installation and other related
costs incurred to the
succeeding lessee that will
occupy the Level 2 area;
d. Submit documents to the

Audit Team relative to the
approval of the 17 months
rent holiday granted by
MIAA, for evaluation
purposes; and
e. Hold accountable the persons

who entered the contract with
MIAA which resulted in the
incurrence of pre-occupancy
216
Amount
(in thousands)
rental amounting to P144.305
million.
Government Service Insurance System (GSIS)

All government agencies a. Strictly comply with the 20,445,991
whose properties are insured provision of Section 9 of RA
with the System’s No. 656, to declare and
administered General apportion any disposable
Insurance Fund (GIF) are surplus that may result from
deprived of their share in the its operations; and
Fund’s disposable surplus/net b. Promulgate the necessary
earnings of P20.446 billion rules and regulations as
due to the System’s non- mandated by Section 3 of RA
compliance with the No. 656, as amended by PD
provision of Section 9 of RA No. 245 for the effective
No. 656, as amended, and the implementation of said law,
absence of Implementing and to include, among others,
Rules and Regulations (IRR) the frequency and manner of
implementing the same. payment, and the
identification of other
reserves that can be set aside
to arrive at the disposable
surplus.
Home Development Mutual Fund (HDMF)

A total of 34,429 accounts a. Impose remedies/sanctions 16,878,228
with loan value of P16.878 against erring developers
billion remained and/or officers without
outstanding/not converted prejudice to HDMF’s right to
from Contract To Sell (CTS) file appropriate actions in
to Real Estate Mortgage, court as provided under
exceeding the allowable HDMF Circular No. 259;
seasoning period by three to
over 20 years, due to b. Review, reconcile and adjust
HDMF’s non-imposition of the AP-Conversion Cost
the remedies provided under accounts to determine the
HDMF Circular No. 259 as accounts which are already
amended, resulting in the fully paid, bought-back by the
exposure of the borrower’s developer, acquired assets, in
property ownership to risk arrears and with updated
and the delay/difficulty in the payments; and
redemption, foreclosure,
disposal of the properties and c. Adhere strictly to the
non-recovery of HDMF’s provisions of HDMF’s
investment in housing. Circular to prevent
Moreover, the existence of accumulation of long overdue
the Retention Fees CTS accounts for conversion.
217
Amount
(in thousands)
amounting to P5.814 million
booked under AP-Conversion
Cost with accounts already
fully paid, bought-back by
the developer, acquired
assets, in arrears and updated
accounts, casts doubts on the
reliability of the accounts.
Home Guaranty Corporation (HGC)

The Transfer Certificate of a. Carry out the annotation of 3,221,142
Title (TCT) of HGC the JVAs in the TCTs of the
properties covered by the subject properties; and
JVAs with Developers A and
B consisting a total area of b. Institute appropriate measures
2,180,000 and 290,225.28 to safeguard the interest of
square meters with HGC pending the annotation
recoverable amount of of the JVAs in the TCTs.
P2.665 billion and P556.142
million, respectively, were
neither registered under the
name of HGC nor bear the
annotation of the JVAs, thus
contrary to Sections 51, 52
and 54 of PD No. 1529 or the
Property Registration Decree,
Article III and Par. 5, Article
IV of the said JVAs
subjecting the developers to
corresponding penalty and/or
suspension of the JVAs.
Intercontinental Broadcasting Corporation (IBC)

The terms and conditions of a. Rescind the JVA and its NQ
the 2016 Amendments to the amendments as this will
Joint Venture Agreement result in IBC-13 losing its
(JVA) dated March 24, 2010 share in the JVA with
entered into by and between RBI/PVI; otherwise, cause
IBC-13 and R-II Builders other amendments to the JVA
Inc./Primestate Venture Inc. to include provisions that
(RBI/PVI) constituted a will be just and fair to both
contract of sale rather than a parties; and
joint venture; thus, the sale of
the IBC-13’s property was b. Strictly comply with the
not in accordance with regulations pertaining to
Section 79 of P.D. No. 1445 JVAs.
and Sections 2 and 3 of
218
Amount
(in thousands)
Executive Order (EO) No.
888 dated March 18, 1983
and disadvantageous to the
government.
Land Bank of the Philippines (LBP)

The outsourced Automated Impose stiffer penalties against NQ
Teller Machines (ATM) cash the SP for failure to comply with
loading and first level the Service Level Agreement;
maintenance (FLM) services and compel all branches availing
of ATM did not meet the the services of SP to participate
expected ATM availability in the Quarterly Performance
and efficiency of ATM cash Assessment Review to improve
loading and FLM operations the services of the SP.
of the Bank in the five year
contract with the Third Party
Service Provider (SP).
Lung Center of the Philippines (LCP)

Of the total amount of a. For the balance of P22.616 22,616
P28.058 million received million not returned yet to
from the Philippine Health concerned patient-members,
Insurance Corporation exert all efforts to determine
(PhilHealth) representing the possibility of making the
PhilHealth Medicare necessary refund based on
Patients Refunds for the available records; otherwise,
period 2002 to 2018, only return the same to PhilHealth
P5.442 million or pursuant to paragraph B(2) of
19 per cent was actually PhilHealth Circular No. 42, s.
refunded to concerned 2009.
patient-members, leaving b. Henceforth, strictly adhere to
P22.616 million still to be the provisions of PhilHealth
refunded as of December 31, Circular No. 42, s. 2009,
2018, contrary to Paragraph requiring the refund to the
B(1) of PhilHealth Circular respective qualified member
No. 42, s. 2009 and likewise the difference between the
depriving the concerned amount claimed from
patient-members of their PhilHealth and the actual
benefit. amount deducted from the
members as benefit upon
discharge. In the event that
the refunds from PhilHealth
are not returned to the
concerned claimants within
sixty (60)-day period, return
the amounts to PhilHealth
within thirty (30) calendar
219
Amount
(in thousands)
days in accordance with the
same Circular;
Local Water Utilities Administration (LWUA)

Subsidies received from the Cause the derecognition of the 4,074,379
National Government (NG) Donated Capital Stock
in the aggregate amount of amounting to P4.074 billion and
P4.074 billion used in instead recognize Subsidy
financing Water Districts Income in accordance with the
(WDs) projects were GAA and PPSAS;
recognized in the books as
Donated Capital contrary to
the Special Provisions of the
General Appropriations Act
(GAA) concerning LWUA
and Philippine Public Sector
Accounting Standards
(PPSAS) 23.
National Dairy Authority (NDA)

The 135 offsprings of 189 a. Execute a separate MOA to 1,450
empty dams dispersed to include the appropriate
Dairy Multiplier Farm repayment scheme on the 135
(DMF) Operator under the calves that were dispersed to
Palit-Baka Scheme were not DMF Operator that will be
covered with a Memorandum beneficial to the NDA;
of Agreement (MOA) with
NDA, thus, were not b. Based on the charged amount
included in the repayment that was issued by COA,
scheme for collection that require the accountable
would result in a loss on the officer to pay the value of the
part of the NDA. Moreover, reported 10 heads of animal
the reported death of 10 dairy mortalities; and
animals with a book value of
P1.450 million of the 209 c. Instruct the Accounting Unit
dairy animals quarantined to derecognize from the
inside the Operator’s books of accounts the book
multiplier farm is doubtful value of dead animals upon
since no Notice of Death, receipt of payment from the
Necropsy Report, Inventory accountable officer.
and Inspections Report,
Affidavit of Disinterested
Persons, and pictures of the
death of animals as well as
request for relief from
property accountability were
submitted by the accountable
officials contrary to COA
220
Amount
(in thousands)
Memorandum No. 92-751
dated February 24, 1992.
The animal recipients did not Direct the Operations 122,465

insure with the Philippine Department to:
Crop Insurance Corporation a. Strictly enforce compliance
(PCIC) the 5,096 heads of with Section 2.2.11 of the
dairy animals with total book MOA on the insurance of
value of P707.520 million in dairy animals by animal
their possession as required recipients; and
in Section 2.2.11 of the
MOA. Thus, NDA incurred b. Require the recipients to
losses amounting to submit annually the list of
P122.465 million due to insured animals with PCIC
death or loss of the 883 of the and maintain a listing for
5,096 heads dairy animals monitoring and reference.
dispersed to several animal
recipients.
National Food Authority (NFA)

The rice inventory levels in Strengthen the local procurement NQ
NFA-National Capital level to ensure at all times the
Region and other Provincial availability of the required buffer
Offices (POs) in almost all stock levels to attain its mandate
months of Calendar Year under R.A. No. 11203 of 2019,
2018 were way below the The Rice Tariffication Law, to
required level of buffer respond to the rice requirements
stocks of 15 days in each during calamities.
month and 30 days in July
during the year. Hence, NFA
was exposed to rice supply
shortages and higher prices
of commercial rice in the
market, thereby, affecting its
ability to achieve its mandate
of providing stable supply
and prices at all times and
could compromise its
capability to effectively and
immediately respond in times
of disaster and emergency
situations.
The inability to undertake the a. Require the Legal Affairs 2,930,655

necessary legal actions on Department of the Central
shortages of Stock Office of NFA to fast track
Accountable Officers (SAOs) the resolutions of the cases
by NFA Management as filed against SAOs; enforce
221
Amount
(in thousands)
required in NFA existing collection of their shortages;
policies and guidelines and for SAOs no longer
resulted in the accumulation connected with NFA,
of the stock shortages to continuously send demand
P2.931 billion, that includes letters to their last known
P0.960 billion pertaining to addresses; and follow up
SAOs who are no longer cases filed at the
connected with NFA. In Ombudsman;
addition, there are shortages
amounting to P1.669 billion b. Instruct the District Offices/
without computation of final POs to exert utmost efforts to
Tolerable Allowance enforce/hasten the collection
(TOLA) due to of the final shortages of
missing/incomplete SAOs still connected with
warehouse/stock reports and NFA; and
the absence of prescribed
time frame to complete stock c. Revisit Standard Operating
examination in NFA policy Procedure No. GM-WH13
on stock examination and and prescribe appropriate
TOLA computation. Hence, timeframe so that the final
the final amount of shortages shortages could be
for col-lection could not be established within a
determined, thus, depriving reasonable period and
NFA on the use of immediate collection of
uncollected shortages to shortages could be facilitated.
finance its programs and
operations.
NFA constantly increased its Cause the submission of the NQ

approved reference price detailed breakdown of reference
without consideration of the price for the procurement of the
continuous decline in the 750,000 MT through G-to-G and
price of rice in the world G-to-P procurement scheme and
market. Thus, it had not the copy of bidding documents
obtained the most of the losing bidders.
advantageous price in the
purchase of 1.250 million
Metric Tons (MT) well-
milled long grains white rice
through Government-to-
Government (G-to-G) and
Government-to-Private (G-
to-P) or Open Tender
procurement schemes.
The grant, utilization, a. Strictly comply with the 3,650

disbursement and recording provisions of COA Circular
of fund transfers amounting 2007-001 on the transfer of
222
Amount
(in thousands)
to P3.650 million from the government funds to Non-
NFA Corn Development Government Organization
Fund (CDF) to the Philippine (NGOs)/ Civil Society
Maize Federation Inc. Organization (CSO);
(PHILMAIZE) from CYs
2007 to 2018 were not in b. Instruct the NFA-CDF
accordance with COA Accounting Services
Circular No. 2007-001 dated Department to recognize in
October 25, 2007 and NFA the NFA CDF books of
Standard Operating accounts the fund transfer to
Procedure No. TS-ES22, thus PHILMAIZE as receivable
rendering the fund transfers from NGO/CSO to establish
of doubtful regularity due to: the accountability of the
(i) the non-submission of beneficiary to liquidate the
eligibility documents and funds and to require the
non-liquidation of the submission of
previous cash advance; (ii) accomplishment and
the treatment of the fund liquidation reports; and
transfer as direct expense
instead of receivables from c. Ensure that only qualified
PHILMAIZE; and (iii) NGO/CSO shall be the
conflict of interest. recipient of government
funds.
National Irrigation Administration (NIA)

Proper planning and a. Adhere strictly to the 43,004,322
implementation of projects provisions of Section 17.6 of
were not strictly observed, the Republic Act No. 9184
as: (a) 299 irrigation and Item 1 of Annex “A” of
contracts/ projects with total its Revised IRR that no
contract cost of P20.704 bidding and awarding of
billion incurred significant contract for infrastructure
delays of up to 2,287 projects are made unless
calendar days owing to the detailed engineering
unsatisfactory performance investigations, surveys and
of contractors, among others; designs, including the
(b) defaulting contractors for acquisition of the Right of
44 contracts costing P12.245 Way are duly complied with
billion were not imposed and approved to ensure that
with liquidated damages; (c) all contracts are efficiently
20 on-going contracts carried out to avoid delays in
aggregating P9.039 billion the implementation of the
that have already incurred irrigation projects;
huge negative slippages
ranging from 15 per cent to b. Require the Managers of the
87.84 per cent were neither Implementing Units to:
terminated nor rescinded; (d)
performance securities of b.1. Act with dispatch in
223
Amount
(in thousands)
P472.067 million were not resolving the existing
forfeited for 43 terminated issues/problems that are
contracts costing P2.207 currently hampering/
billion; (e) change/ variation delaying the completion
orders and contract time of the projects;
extensions were granted to
contractors for 42 b.2. Evaluate meticulously
contracts/projects with total and judiciously requests
cost of P544.184 million for changes in the scope
notwithstanding the of works/quantities of
inadequate evaluation and work items and time
incomplete documentation, extensions to ensure that
among others, thus, resulting Change Orders
in wastage of government (ChOs)/Variation Orders
resources. (VOs) and Contract
Time Extensions (CTEs)
are duly approved by
NIA Administrator or his
authorized representative
and both are duly
supported with complete
documents; and
b.3. Turn over immediately

the operations and
maintenance of all
completed and
operational communal
irrigation projects to the
concerned Irrigators
Associations (IAs) duly
covered with
Memorandum of
Agreement embodying
the terms and conditions,
as well as the duties and
responsibilities of both
the Agency and the IAs.
c. Require the Accounting

Division/Section of the
Central Office and concerned
Regional Offices/Irrigation
Management Offices to
immediately impose
liquidated damages for
projects that incurred
negative slippages without
224
Amount
(in thousands)
valid justification and
approved CTEs;
d. Consider rescinding/
terminating the contracts and
forfeit the contractor's
performance security for
projects with negative
slippages of more than 15 per
cent resulting from
contractor’s fault or
negligence;
e. Require the Legal

Department and Internal
Audit Services of NIA to
conduct investigations to
determine persons
responsible for: (i) not
imposing LDs; (ii) approving/
granting of ChOs/VOs and
CTEs without proper
evaluation and
documentation; and (iii) not
terminating the contracts that
incurred huge negative
slippage due to contractor’s
fault;
f. Require the Legal

Department to file
appropriate case against the
persons responsible, if
warranted;
g. Create an inspectorate team

to conduct a thorough
inspection and turnover of
completed projects to the IAs
for operation and
maintenance, and render the
necessary reports thereon;
and
h. Conduct inspection and

validation of the actual
accomplishments on all
infrastructure projects
225
Amount
(in thousands)
submitted for progress billing
and prepare status reports
showing the accurate actual
work accomplished as
compared to the contractor’s
Statement of Work
Accomplished.
National Kidney and Transplant Institute (NKTI)

Claims from the Philippine a. Request for reassessment/ 1,558
Health Insurance Corporation reconsideration from
(PhilHealth) amounting to PhilHealth those denied claims
P1.558 million were denied if possible, and make
due to non-compliance with representation with concerned
pertinent provisions of the PhilHealth officials on ways to
Revised IRR of Republic Act address the problems on
(R.A.) No. 7875 or the denied claims;
National Health Insurance
Act (NHIA) of 2013, as b. Exercise due diligence in the
amended by R.A. Nos. 9241 grant of benefits to PhilHealth
and 10606, and relevant members by ensuring strict
PhilHealth Circular, thus adherence to the guidelines
resulting in accumulation of prescribed by the Revised IRR
uncollectible accounts from of the NHIA of 2013 and other
PhilHealth and loss of relevant PhilHealth Circulars;
income. and
c. Institute control measures to

avoid denial of claims for
reimbursements from Phil-
Health.
National Power Corporation (NPC)

NPC was still not able to a. Account for all the 1,905,149
completely account the unrecorded GRAM and
Generation Rate Adjustment ICERA collections and
Mechanism (GRAM) and prepare the necessary
Incremental Currency adjusting entries; and
Exchange Rate (ICERA)
collections covering the b. Prepare the necessary
period November 2012 to adjustment on errors of
June 2016 which pertains to recording the GRAM
collections directly remitted collections.
to and treated as payment of
subsidy to New Power
Providers (NPPs) contrary to
fair presentation of the
226
Amount
(in thousands)
Financial Statements under
PPSAS 1.
Similarly, error in the GRAM

collections in CY 2017
resulted to overstatement of
both Retained Earnings and
Receivable account by
P53.544 million.
Lastly, the total amount of

ERC-approved 3rd GRAM
and ICERA was recognized
as an outright adjustment to
Retained Earnings account
which resulted to
understatement of reported
income for CYs 2012 to 2018
in the amount of P1.905
billion.
Nayong Pilipino Foundation (NPF)

Transactions totaling P1.710 a. Coordinate with the previous 1,709,975
billion, composed of: NPF Accountants and persons
(a) deposits/collections/bank responsible and demand the
credits in 2017 and 2018 submission or turnover of the
amounting to P28.767 documents relating to
million and P1,295.121 unsupported transactions
million, respectively, booked totaling P1.710 billion,
as Other Payables/Other otherwise, a Notice of
Business Income; (b) Suspension will be issued;
withdrawals/bank debits
totaling P350.329 million b. Provide necessary Adjusting
recorded as Other Journal Entries to correct the
Receivables; and (c) initial journal entries made
withdrawals from the Cash for unsupported transactions
Investment with the and support them with
Development Bank of the documents and reports to
Philippines (DBP) totaling establish the correctness
P35.758 million, were not thereof;
supported with pertinent
documents, contrary to c. Designate accounting
Sections 39 and 59 of PD No. personnel that would
1445, and casting doubt on regularly monitor the
the propriety of the recording investment account, record,
and the validity thereof. and reconcile all collections
and withdrawals every month
to avoid incurrence of
227
Amount
(in thousands)
unsubstantiated/
undocumented transactions;
and
d. Require that all withdrawals
from the Cash Investment be
supported with complete
documents and see to it that
all funds are utilized for the
development of a world class
park.
The NPF has not complied Fully implement the NQ

with the recommendation of recommendation of the DOJ.
the Department of Justice
(DOJ) as embodied in the
Memorandum for the
President dated August 29,
2018 to repossess its 9.7
hectares land at the Central
Business Park, Manila Bay
Reclamation Area, Parañaque
City which is also contrary to
Section 2 of P.D. No. 1445,
thereby depriving the
Foundation of the use of the
land and any benefits that
could be derived therefrom.
Natural Resources Development Corporation (NRDC)

The NRDC has not assessed a. Conduct the assessment of 239,829
the impairment of tangible significant increase in risk on
and intangible assets with investment prescribed under
carrying amount of P164.829 PFRS 9;
million as required under
Philippine Accounting b. Calculate and recognize in
Standards (PAS) 36, and the the books the expected credit
significant increase in risk on losses on the Investment in
investment amounting to Bukidnon Forest, Inc., as well
P75.000 million prescribed as the impairment of tangible
under Philippine Financial and intangible assets covered
Reporting Standards (PFRS) under PAS 36; and
9. Likewise, the Corporation
did not comply with the c. Require the Accountant to
disclosure on financial assets provide the disclosure
and liabilities required under requirements for financial
PFRS 7. Thus, the faithful assets and financial liabilities
representation in the financial covered under PFRS 7 in the
statements (FS) of the assets Notes to FS.
228
Amount
(in thousands)
cannot be ascertained.
Philippine Aerospace Development Corporation (PADC)

The balance of the Spare Maximize efforts and avail or 54,754
Parts Inventory account is explore all possible means to
unreliable due to come-up with the updated
Management’s non- inventory valuation and make the
assessment of the usability necessary adjustment to the
and commercial value of inventory account.
these inventories as of
December 31, 2018.
Philippine Amusement and Gaming Corporation (PAGCOR)

The amount of P21.636 Urgently secure the approval of 21,636
million incurred in the the Office of the President of the
procurement of the Philippines on the construction
consulting services for the of the PAGCOR MIA Complex
design of the proposed Site to avoid incurrence of
Development of PAGCOR unnecessary expenses for
MIA Complex (with consultancy services if the
approved budget of P875.038 implementation of the Project
million) would result in will be stalled.
wastage of government funds
and considered unnecessary
expenditure, if the project
implementation would not
push through as planned.
Moreover, PAGCOR will
incur rent expenses in the
next ten years of
approximately P960.074
million when the
construction of the proposed
PAGCOR MIA Complex
would be delayed/stalled.
Lapses in the implementation a. Submit the written extension NQ

of the “Matuwid Na Daan Sa agreement between PAGCOR
Silid Aralan” Project, such and the implementing
as: (a) 457 classrooms with agencies, if any, for the
total project cost of P714.496 completion of the remaining
million were not completed uncompleted classrooms,
within the target date and no duly supported with
written agreement between justification(s) on the delay of
PAGCOR and the the completion;
implementing agencies for
extension of the completion b. Coordinate with the
229
Amount
(in thousands)
thereof as required under the implementing agencies for
Memorandum of Agreement the immediate liquidation of
(MOA); (b) non-liquidation the fund transfers and to
of the remaining balance of return the unutilized balance,
P1.189 billion funds released if any;
by PAGCOR to the
implementing agencies; and c. Evaluate the propriety of the
(c) deficient monitoring of request of the DPWH for
the implementation of the additional funding
211 classrooms with total requirements needed to
project cost of P393.450 complete those classrooms
million resulted in the non- that are still under/on-going
completion, non-construction construction;
and abandonment by the
contractors of the project, d. Coordinate with the DPWH
among others, thus defeating and DepEd to immediately
the purpose of providing act and address the noted
timely and adequate deficiencies;
classrooms to the intended
beneficiaries. e. Investigate and file
appropriate charge(s) against
those responsible persons
found to be negligent and/or
acted in bad faith in the
implementation of the
“Matuwid Na Daan Sa Silid
Aralan” Project; and
f. Henceforth, direct the

Corporate Social
Responsibility Group to
closely monitor the
implementation of PAGCOR
projects to ensure the
achievement of the objectives
thereof and proper utilization
of funds allocated therefor.
230
Amount
(in thousands)
PAGCOR did not closely a. Require the recipient LGUs NQ
monitor the Host to utilize the funds for
City/Provincial Shares relevant programs and
released to Local projects as stated in the
Government Units (LGUs), guidelines for Host
thus: (a) out of the total City/Provincial Share so as to
accumulated releases to benefit the constituents and
LGUs amounting to P1.203 avoid accumulation of idle
billion, the amount of funds;
P908.729 million or 75.53
per cent remained unutilized b. Ensure that the succeeding
as of December 31, 2018; grants and/or increase in Host
and (b) ineligible expenses City/Provincial Share of the
were charged thereto, as a LGUs are properly supported
result, the primary purpose of with Annual Plan and Budget,
the grant as provided in the which would serve as basis in
Guidelines on Handling and determining the reasonable
Disposition of Host City amount to be
Share was defeated. granted/approved by the
PAGCOR’s Board of
Directors;
c. Revisit the Guidelines in the

Handling and Disposition of
Host City/Provincial Share
with the end view of
establishing specific
guidelines and controls
especially on the grant of
financial assistance, poverty
alleviation, among others, for
uniformity as well as to avoid
misuse and misappropriation
of the funds;
d. Consider including in the

guidelines for the Host City
Share the imposition of
sanctions against LGUs
which utilize the funds not in
accordance with the purpose
for which these were
intended; and
e. Strictly monitor: (i) the

utilization of the Host
City/Provincial Share to
ensure proper utilization of
231
Amount
(in thousands)
the funds, and (ii) the use of
the standardized format of
Quarterly Report on
Utilization thereof by the
LGUs concerned as well as
the timely submission of the
Report.
Philippine Coconut Authority (PCA)

Regional Office (RO) Nos. I Direct the concerned Agri- 45,195
– IV-B, VIII and XIII did not culturist, Provincial Coconut
adhere to the projects’ Development Managers and
guidelines in the validation of Coconut Development Officers
the eligibility and preparation to comply with Projects’
of the list of beneficiaries to Guidelines by:
be included in the: (a) a. Performing the evaluation
Masterlist of Prospective procedures in identifying
Farmer-Participants (MPFP) the farmer-participants such
for Small Holder Oil Palm as: (a) securing documents
Development Project; (b) supporting compliance with
Masterlist of Approved the eligibility requirements;
Participants (MAP) for (b) conducting soil
Kasaganaan sa Niyugan at suitability assessment; and
Kaunlaran ng Bayan (c) inspection of the site for
(KAANIB) Enterprise planting;
Development Projects b. Preparing complete
Intercropping; and masterlists for the Projects
(c) Masterlists of Farmer- and submit to ROs for
Participants (MFP) for approval to ensure that the
Accelerated Coconut agricultural inputs were
Planting and Replanting distributed only to the
Project - Participatory farmer participant included
Coconut Planting Program in the masterlist; and
and Coconut Fertilization c. Submitting immediately the
Project. Thus, there was no MPFP/MAP/MFP and
assurance that the delivered MAFPAPOS of the
agricultural inputs in the total distributed agricultural
amount of P45.195 million inputs in the amount of
were distributed to the P26.056 million.
bonafide Program
beneficiaries. Also, the
disbursement for the supply
of the palm oil seedlings in
RO No. I – IV-B were not
supported with Masterlist of
Approved Farmer-
Participants Who Have
Actually Planted the Oil
232
Amount
(in thousands)
Palm Seedlings
(MAFPAPOS).
Philippine Crop Insurance Corporation (PCIC)

The Gross Insurance a. Instruct the Administrative 489,143
Premiums (GIP) in the and Finance Division (AFD),
Statement of Comprehensive Marketing and Sales Division
Income (SCI) vis-à-vis (MSD) and Claims
Consolidated Premium Adjustment Division (CAD)
Registers (CPR) differed by of PCIC Regional Offices
P182.924 million while the (ROs) to:
Consolidated Claims
Registers (CCR) generated a.1 Prioritize the
from the PCIC Automated reconciliation of
Business System (PABS) discrepancy between the
differed by P306.219 million SCI and CPR for GIP,
from the SCI and CCR for SCI and CCR for
Insurance benefits. Thus, the insurance benefits paid,
balances of GIP and and make appropriate
Insurance benefits accounts adjusting entries, if
amounting to P4.906 billion warranted;
and P3.397 billion cannot be
relied upon. a.2 Coordinate with each
division on a monthly
basis to reconcile
balances of GIP and
insurance benefits in SCI
with the balances in the
CPR and CCR generated
from PABS;
b. Request the Planning and

Management Information
Office (PMIO) to generate a
copy of the CPR and CCR on
a monthly basis for
verification and validation by
the AFD in ROs to detect
errors, if any, and submit
report thereon so that this
would be addressed promptly
by the PMIO; and
c. Require the CAD and

Regional Managers to review
thoroughly the data encoded
in PABS by job order
personnel, including its
233
Amount
(in thousands)
supporting documents, prior
to on-line approval to ensure
completeness and prevent
occurrence of error in
encoding.
Out of the 6.846 million, a. Increase the production target NQ

farmers and fisherfolks with based on the targeted farmers
insurable interest included in and fisherfolks included in
the Registry System for Basic the RSBSA list, to give equal
Sectors in Agriculture opportunity to all subsistence
(RSBSA) list, only 1.800 farmers and fisherfolks;
million or 26.30 per cent
were included in the PCIC b. Direct the Regional Offices to
insurance production target exert vigorous efforts to meet
for CY 2018. However, their respective approved
actual insurance production production target in terms of
of 1.343 million insured the number of farmers and
farmers and fisherfolks fell fisherfolks, in compliance
short by 457,352 or 25.41 per with Item II of the
cent despite the excess of Implementing Guide-lines in
P113.100 million actual the Utilization of GPS, by
premium utilization over the formulating strategies or
Government Premium plans, to give all the target
Subsidy (GPS) of P3.500 farmers and fisherfolks
billion. As such, 5.046 included in the RSBSA list,
million farmers and the opportunity to avail of the
fisherfolks or 73.70 per cent free insurance program of the
included in the RSBSA list government; and
were not given the
opportunity to avail of the c. Request for the updated
free insurance offered by the RSBSA list of farmers and
government in view of the fisherfolks from the
low absorption capacity Department of Agriculture as
within the year. basis in granting free
insurance coverage.
Philippine Children’s Medical Center (PCMC)

Cash collections were used to Require all Collecting Officers to NQ
encash checks issued to five deposit intact all their collections
accountable officers for the and to avoid using the same to
grant of cash advances and encash checks in compliance
replenishments of their paid with Section 69(1) of
expenses with amounts Presidential Decree (PD) No.
ranging from P3,700 to 1445 and Section 21 of the
P600,000, which should have Manual on New Government
been deposited intact with Accounting System, Volume I.
authorized government
234
Amount
(in thousands)
depository bank (AGDB)
daily as required in Section
69(1) of Presidential Decree
(PD) No. 1445 and Section
21 of the Manual on New
Government Accounting
System, Volume I. Thus, said
practice is not in adherence
to sound internal control
practices on the proper
handling of collections and
deposits.
Philippine Charity Sweepstakes Office (PCSO)

The Presumptive Monthly Intensify collection of the PMRR 4,607,000
Retail Receipts (PMRR) Shortfalls due from the
Shortfalls due to PCSO in the concerned AACs/ASAs in the
amount of P4.607 billion, net total amount of P4.607 billion so
of the waived PMRR that the same can be utilized for
amounting to P665.200 the various charitable programs
million and reduced PMRR of the PCSO, particularly the
as a result of implementation IMAP. Otherwise, implement
of Board Resolution No. 401, Section 27 (f & g) of the Revised
series 2018 in the amount of IRR for STL and suspend and/or
P761.909 million, remained revoke their Authorities to
unsettled as of December 31, Operate (ATO) and forfeit their
2018 in violation of Section cash bonds corresponding to the
18 (e) of the Implementing amount of their PMRR
Rules and Regulations (IRR) Shortfalls.
for the STL.
Unremitted shortfalls in the a. Nullify the waiver given to 1,427,109

PMRR as of December 31, the subject AACs and restore
2018 were reduced by a total the PMRR shortfalls due
amount of P1.427 billion due from them in the total amount
to: (a) waived PMRR of P665.200 million
shortfalls due to PCSO considering that the PCSO
amounting to P665.200 Board of Directors has no
million based on various authority to condone or
Board Resolutions (BR); and waive valid claims by PCSO
(b) reduced PMRR as a result pursuant to Section 36.1 of
of implementation of Board PD No. 1445/Section 20(1),
Resolution No. 401, series Chapter 4, Subtitle B, Title I,
2018 in the amount of Book V of EO No. 292 or the
P761.909 million. Administrative Code of 1987;
and
235
Amount
(in thousands)
b. Consider the possibility of
recalling BR No. 0401, series
of 2018 and instead, follow
the provisions in the STL
Agency Agreement until its
renewal, in view of the undue
disadvantage suffered by
PCSO on account of its
issuance.
The total amount of Direct the concerned officials of 684,302

P684.302 million, consisting the PCSO to immediately
of forfeited prizes for Keno transfer to the Charity Fund the
games during CYs 2015 to total amount of P684.302
2017 in the total amount of million, representing forfeited
P184.302 million as well as prizes for Keno games and
the remaining balance of the remaining unutilized CY 2017
2017 unutilized operating operating fund pursuant to
fund of P500 million, was not Sections 6.A and 6.D of RA No.
yet transferred to the Charity 1169 to augment the funds that
Fund, contrary to Sections may be utilized for the various
6.A and 6.D of Republic Act charity programs of the PCSO,
(RA) No. 1169, otherwise particularly the IMAP.
known as the PCSO Charter,
which could have provided
the much-needed fund for the
various charitable programs
of the PCSO, most specially
the Individual Medical
Assistance Program (IMAP).
Assets generated as well as Direct the concerned accounting NQ

the liabilities incurred from personnel to effect the necessary
the P2.5 billion trust fund adjusting entries pertaining to the
intended for the construction CY 2018 transactions of the trust
of the PCSO building fund with the LBP, which was
maintained with the Land intended for the construction of
Bank of the Philippines the PCSO building, so that the
(LBP) were not reported balances of the affected accounts
separately in the Statement of shall faithfully represent the
Financial Position as at effects of the said transactions
December 31, 2018. Instead, pursuant to Paragraph 15 of PAS
the equity from the said trust 1.
account in the amount of
P2.603 billion was
recognized under the
Financial Assets at Fair
Value through Other
236
Amount
(in thousands)
Comprehensive Income
(FVOCI) account, which was
tantamount to offsetting of
assets and liabilities that is
not allowed under Sections
32 and 33 of Philippine
Accounting Standard (PAS)
1, resulting in the
understatement of Cash and
Cash Equivalents,
Receivables, Prepayments
and Liabilities accounts by
P509.424 million, P16.801
million, P1.549 million and
P3.438 million, respectively,
while the Financial Assets
was overstated by P524.336
million.
PEA Tollway Corporation (PEATC)

The non-recording of the Inquire on the action taken by the NQ
revenues, and operations and Governance Commission for
maintenance (O&M) GCs and the Office of the
expenses of the Manila President on the appointment of
Cavite Toll Expressway PEATC Board of Directors, and
Project (MCTEP) in the the status of determination of the
books of accounts of PEA validity of the Voting Trust
Tollway Corporation Agreement (VTA), which is the
(PEATC), resulted in the subject of GCG letter to the
non-preparation of the Office of the Government
Statement of Project Income Corporate Counsel dated March
and Expenses, and the 15, 2018.
Statement of Revenue
Sharing between the Once the VTA is declared
Philippine Reclamation invalid, record in the books of
Authority (PRA) and Cavitex accounts the revenues and O&M
Infrastructure Corporation expenses. If declared valid,
(CIC). Thus, PEATC has no study the options available in
first-hand information on the order that recording of revenues
financial performance of the and O&M expenses in the books
MCTEP. of accounts of PEATC is
facilitated to eventually
determine the financial
performance of the MCTEP.
237
Amount
(in thousands)
Philippine Economic Zone Authority (PEZA)

The weaknesses in the
controls of the Engineering
Permit and Monitoring
System (EPAMS) and the
Report of Collection System
(ROCS) resulted in pecuniary
losses to the Authority and
affected the reliability and
accuracy of the reports
generated by the said
systems.
NQ
1. Discrepancies between a. Require the Support Services
the reported and actual Department to submit
permit/inspection fees monthly Report of Total
collected resulting in the Assessments to the Finance
understatement of cash Group for recording and
and income accounts by monitoring purposes; and
P3.493 million in CY b. Ensure that Reports of
2018 and P7.548 Collections and Assessments
million in CY 2017. are prepared regularly (daily,
weekly or monthly, as
needed) indicating on the face
of the document the names
and bearing the signatures of
officials and employees who
prepared, reviewed, noted and
approved the transactions for
proper accountability.
2. The unrestricted access NQ
to EPAMS by a. Restrict access to EPAMS to
frontliners of the authorized personnel only and
Engineering Department the sharing of user’s ID and
compromised the passwords to unauthorized
control and safety personnel be stopped;
feature of the system.
b. Give the frontliners restricted
access to EPAMS, if
Management really intends to
allow them to do encoding
functions, to avoid
unauthorized modifications in
the information stored in the
system; and
c. Reassess the control and
238
Amount
(in thousands)
security features of EPAMS
to ensure that modifications
and encoding of data is
appropriately done and
reviewed.
Philippine Fisheries Development Authority (PFDA)

The Guidelines and a. Review immediately the 75,781
Procedures for the Processing request of the two NFPC
of Application for Lease/Use lessees for restructuring to
of Port Facilities/Services facilitate the collection of
and Preparation, Renewal their long overdue accounts,
and Termination of Contract as well as those of the other
were not strictly enforced by 33 lessees should they opt to
PFDA on the lease of 35 request for restructuring of
clients/lessees of Navotas their accounts;
Fish Port Complex (NFPC) b. Instruct the Office of the Port
whose contracts already Manager and the Accounting
expired, 11 of which are still Division to require all the 35
operational and 24 are non- lessees to settle their accounts
operational due to NFPC’s and for the remaining 33
difficulty in collection that lessees to request for
resulted in uncollected restructuring of their overdue
accounts receivable balances; and
million as of December 31, c. Require the Legal Division to
2018. issue/reissue notice of
termination and dispossession
to the lessees who are still
occupying the area but non-
operational to give
opportunity to other lessees
who are willing to operate
business and capable to pay
the rental.
Philippine Heart Center (PHC)

Inconsistencies in the Require the Management NQ
implementation of PHC Services Department
Memorandum DO- Management Information
M:186:2017 dated October 9, Division to:
2017 on the Guide-lines on
Charging For Consigned a. Strictly implement PHC
Items resulted in inaccurate Memorandum DO-M:
charges to patients. 186:2017 dated October 9,
2017 on the Guidelines on
Charging for Consigned
239
Amount
(in thousands)
Items; and
b. Thoroughly review the

existing Billing Statement
System for the reliability
and accuracy of patient’s
Statement of Account.
Inadequate control measures Require strict implementation of NQ

in the requisitions, storage, the following measures at the
handling and inventory of OR Main Stockroom and
supplies and materials in the Dispensing Area:
PHC Operating Room (OR)
exposed the stock items to a. Limit access to the
risk of loss or misuse which dispensing area only to
are not in consonance with authorized personnel such
Sections 123 and 124 of as storekeeper and stock
Presidential Decree (PD) No. clerk. Always keep the
1445. dispensing area locked to
reduce the risk of supplies
getting stolen or assign a
personnel to man the area
on a shift basis;
b. All issuances or transfers of
OR supplies and materials
from the main stockroom to
the dispensing area must be
documented to establish
responsibility/
accountability;
c. The storekeeper/stock clerk

should prepare and
maintain bin cards for each
item of supplies to record
receipts and issuances in
the dispensing area. They,
at any time, may conduct a
test count of their stocks to
determine whether the
actual count tallies with the
balance per bin card;
d. Additional stock clerks/

storekeepers be assigned to
assist in the operation of
OR stockroom and
dispensing area; and
240
Amount
(in thousands)
e. Maintain a separate record
of consumption showing
actual OR supplies and
materials issued and/or
transferred which should be
reported and reflected in
the consumed column of
monthly inventory report.
The monthly inventory
report showing the actual
consumption shall be
compared to the actual
count to determine if there
are shortages/ overages. In
case of deficiency,
reconcile and investigate.
The PHC's implementation of Strictly adhere with PhilHealth NQ
the No Balance Billing Circular No. 2017-0017 with
(NBB) Program for patients’ regards to the maximum 45-day
confinement of more than 45 confinement of NBB patients as
days was not in accordance provided under paragraph J of
with PhilHealth Circular No. the subject Circular.
2017-0017, thereby
increasing PHC’s expenses
beyond the limit of
confinement allowed.
Philippine Health Insurance Corporation (PHIC)

The faithful representation of Provide the COA-PhilHealth 62,693,000
the Benefit Claims Expenses auditors nationwide full and
account totaling P121.041 continuous access to all systems
billion for Calendar Year and programs necessary for the
(CY) 2018 was not timely conduct of audit as
established due to the delay mandated by Section 26 of PD
in the grant of full access to No. 1445.
PhilHealth New Claims
(NClaims) System which
precluded the Audit Teams to
conduct substantive testing
on All Case Rates (ACRs)
transactions amounting to
P62.693 billion or 51.79 per
cent, contrary to Paragraph
15 of Philippine Accounting
Standards (PAS) 1 and
PhilHealth Office Order No.
0088-2015 dated October 12,
2015.
241
Amount
(in thousands)
The completeness and a. Enhance the PAR NQ
accuracy of the collections Management Module
remitted by the Accredited (PARM) to facilitate
Collecting Agents (ACAs) to monitoring of the receipt,
PhilHealth aggregating issuance and on-hand PARs
P53.796 billion were as well as collections and
doubtful due to: (a) remittances by the ACAs at
discrepancy of P1.667 billion the end of each month to
between the recorded ensure completeness and
collections by ACAs in the accuracy of the recorded
amount of P53.796 billion collections;
and Report of the Treasury b. Instruct the Treasury and
Department of P55.463 Accounting Departments to
billion; and (b) non- exert all efforts to determine
monitoring/ accounting of the the nature of the
used PhilHealth Agents discrepancies totaling P1.667
Receipts (PARs) distributed billion and the latter to make
to 7,468 ACAs nationwide necessary adjustments in the
and abroad, thereby affecting books;
the faithful representation of
the Premium Contributions c. Include in the Collection and
account for CY 2018 totaling Remittance Agreement
P132.463 billion and the (CRA) the responsibility of
related accounts such as, ACA as "Accountable Forms
Cash and Cash equivalents, Custodian" from ordering,
Due from ACAs, Interest storing, distribution, and
Income, and Fines and reporting of accountable
Penalties on the late forms; and
remittance of collections,
contrary to the Conceptual d. Review, evaluate and
Framework for Financial enhance the internal control
Reporting and Paragraph 15 system over the PARs issued
of PAS 1. to the ACAs and ensure strict
compliance thereto.
Lapses in the selection of Henceforth, undertake due 14,345,000

corporate bond investment diligence analysis in evaluating
totaling P14.345 billion were the creditworthiness and consider
noted, contrary to Section 27, internal analyses, third party
Paragraph 2 of Republic Act research and analytics and other
(R.A.) No. 10606, as sources of information
amended, exposing appropriate for the particular
government funds to undue security and its compliance with
risk of loss, as follows: the laws and regulations
governing Corporation’s
1. Seven (7) out of 14 mandate to invest in Debt
Prospectuses were not Securities and Corporate Bonds
notarized; Issuances in order not to expose
242
Amount
(in thousands)
2. Unaudited Financial PhilHealth’s funds to undue risk
Statements of one of the of loss.
bond issuers in the
evaluation of financial
status and its
creditworthiness were
utilized;
3. One of the bond issuers

was evaluated as triple
“A” without presenting
its Philippine Rating
Report (PRR);
4. Bond issuers were not

evaluated on their
capacity to pay interest
on their securities;
5. The computation of
1.25 per cent net
earnings available for
recurring expenses of
the issuing or assuming
institution, net earnings
were inconsistently
considered;
6. Un-updated Financial
Statements were used in
evaluating the 15 per
cent threshold of
Reserve Fund for the
period; and
7. One of the bond issuers

is a holding company
engaged in power
generation and
distribution as well as
retail of electricity and
other related services,
which is considered
unethical investment.
Unclaimed Benefits Refunds a. Coordinate with the different 358,358

(UBRs) of P358.358 million PhilHealth Regional Offices
returned by the Institutional and concerned IHCPs to
243
Amount
(in thousands)
Health Care Providers secure information relative to
(IHCPs) to PhilHealth the identification,
remained in the custody of whereabouts, and amount of
PhilHealth as of December refund due to the unidentified
31, 2018 due to insufficient patient-members;
list/details of qualified
patient-members who are b. Disseminate through
recipients of these benefit publication the names of the
refunds; thus, depriving them concerned patient-members
with these benefits from relative to their unclaimed
PhilHealth, contrary to refunds pursuant to
PhilHealth Circular No. 42, s. Subsection B.4 of PhilHealth
2009 dated September 28, Circular No. 42, s. 2009;
2009
c. Revert to the Corporate’s
mother account the UBRs
relative to the identified
14,000 patient-members two
years after publication in the
PhilHealth website portal;
d. Establish the identities of all

unidentified patient-members
before reverting the
remaining UBRs to the
retained earnings account,
without prejudice to any
claims which may be made
by the qualified patient-
members in the future; and
e. Instruct Health Finance

Policy Sector (HFPS) to
submit status report on the
review of the policies and
guidelines developed to
monitor UBRs and furnish
the Audit Team a copy
thereof, for evaluation
purposes.
There were overpayments Amend the present guidelines on 4,679

totaling P4.679 million to the implementation of the Z
various Health Care Benefit package and All Case
Institutions (HCIs) on the Rates package to include a
314 sampled claims for Z provision that claims
Benefit Package and All Case reimbursements should be based
Rates (ACRs) due to the full on member-patient’s actual
244
Amount
(in thousands)
reimbursements of the hospitalization charges plus PF
package rates despite the or the amount of the package,
member-patients’ actual whichever is lower, in order that
hospital charges plus the payments of these benefit claims
maximum amount of be to the advantage of the
professional fees (PF) were Government.
lower than the package rate,
contrary to Section 2 of PD
No. 1445. Moreover, the
objective of the program
which is to increase financial
risk protection for PhilHealth
member-patient was not fully
achieved since the HCIs were
the ones benefitted from the
excess payments and that the
member-patients were not
able to avail the full benefits
given by PhilHealth.
The correctness of the a. Require the Accounting NQ

restated Financial Statements Department to:
for CY 2017 that resulted to a
Net Income of P237.167 a.1 Submit all relevant
million from Net Loss of documents from PROs to
P4.751 billion was not support adjustments on
established due to: premium income
1. Adjustments on million and miscellaneous
Premium income of income of P9.412 million
P261.672 million to substantiate the
pertaining to PhilHealth restatements made on the
Regional Offices CY 2017 financial
(PROs) transactions statements;
were not supported with
complete and relevant a.2 Reverse the entry made to
documents; record three per cent
share of P24.830 million
2. Accrual of premium from BCDA’s asset
receivables of P166.491 disposition;
million for employers
that were already a.3 Make necessary
inactive for more than adjustments on the
five years and the restatements made that
accrued amount was could not be substantiated
more than the last with documents, and
payment made by these henceforth, refrain from
employers as reflected making adjustments
245
Amount
(in thousands)
in the Treasury Data without supporting
Editing Module documents; and
(TDEM);
a.4 Use the NCLAIMS data
3. The three per cent (3%) in computing and
share of P24.830 recording the Benefit
million from Bases Claims Expenses, for
Conversion and financial reporting
Development purposes.
Authority’s (BCDA)
asset disposition was b. Instruct the Membership
recorded as income in Management Group (MMG)
2017 instead of using and the Treasury Department
the share for the to reconcile the records of the
enrollment of indigents PMAIS with the TDEM to
as PhilHealth members, come up with the reliable
contrary to Section 1(d) records of member-
of Republic Act (RA) employers/employees and tag
No. 7917 and Section in the database all those
4.5.4 of Administrative employers that were inactive
Order (AO) No. 236; for more than five years to be
excluded in list of active
4. Recording of members; and
Miscellaneous Income of
P9.412 million which c. Examine the underlying
was not supported with causes of variances between
pertinent documents; the Power BI and the
and transactional databases and
apply corrective action for
5. The data source used to purposes of enhancing its
derive the amount of the accuracy and completeness.
Benefit Payments
expenses is not the most
accurate source of
information, thereby
casting doubt on the
accuracy of the restated
amounts in the CY
2017 financial
statements, which were
derived from it.
The PhilHealth Regional a. Re-assess and consider NQ

Office (PRO) III Electronic amending the guidelines
Claims System does not under PC No. 2016-0016 on
provide adequate internal the proper installation of
control measures in the control mechanisms
processing of HCIs electronic particularly on the processing
246
Amount
(in thousands)
claims (eClaims), contrary to and approval of eClaims;
Section 124 of PD No. 1445,
resulting in lack of adequate b. Provide safety nets or tools
measures to safeguard for fraud detection within the
PhilHealth from risk of eClaim System; and
spurious and fraudulent
claims and loss of c. Require the Heads of the
government funds. PROs to:
c.1 Train their Adjudication

personnel and
supervisors to equip
them on fraud detection
to assure the regularity of
the eClaims transactions
paid/ reimbursed to
HCIs;
c.2 Ensure that the

supporting documents of
each eClaims are duly
authenticated and
properly adjudicated by
Adjudication personnel
and appropriately
reviewed and approved
by supervisors before
payment; and
c.3 Prepare reports on edited

eClaims and
communicate the
changes to concerned
HCIs.
PhilHealth Agents Receipts a. Store accountable forms NQ

(PARs) numbering 112,957 particularly those with money
sets for CY 2018 were value in a very safe place and
reported by PhilHealth and keep them free from any
the Accredited Collecting loss/wastage;
Agents (ACAs) as damaged,
cancelled or lost resulting in b. Revisit and amend the
wastage/loss of government Collection and Remittance
assets inconsistent with Agreement with the ACAs to
Sections 2 and 102 of P.D. include provisions on the
No. 1445. proper handling and reporting
of PARs as well as their
responsibility as custodian of
247
Amount
(in thousands)
the accountable form; and
c. Require the ACAs to

immediately report to
PhilHealth the lost and
cancelled PARs for
appropriate action.
Philippine Sugar Corporation (PHILSUCOR)

PHILSUCOR did not In view of the abolition of the 55,478
exercise its right to extra- PHILSUCOR by virtue of
judicially foreclose the Memorandum of Agreement No.
mortgaged property in 30, Management in consultation
accordance with the Loan with the Technical Working
Restructured Agreement Group should:
(LRA) executed between
PHILSUCOR and a Multi- a. Exercise its right to extra-
Purpose Cooperative (MPC), judicially foreclose the
despite the latter’s mortgaged properties of the
continuous default in MPC in consonance with
payment thereby increasing the provisions of the LRA;
the past due accounts to
P51.135 million as of b. File appropriate charges
December 31, 2018 against the MPC relative to
compared to P31.402 million the bouncing checks in the
balance as of December 31, total amount of P31.888
2017, or an increase of million pursuant to Batas
P19.733 million or 62.84 per Pambansa Blg. 22;
cent. Moreover, borrower of
the crop loan extended in CY c. Immediately demand from
2017 in the amount of P5 the defaulting borrower the
million had defaulted in settlement of the past due
payment, resulting in past accounts including accrued
due year-end unpaid balance interest and penalty on
of P4.343 million including Crop Loan; and
interest and penalty.
d. Send collection letters to
inform the other borrowers
of their obligation to
continuously pay their
existing loans to the
Corporation and its
Receiving Agency upon its
abolition/ complete
liquidation.
248
Amount
(in thousands)
Philippine International Trading Corporation (PITC)

The Memoranda of a. Amend the MOA by 7,931,000
Agreement (MOAs) entered stipulating therein a definite
into by PITC, as procurement time frame within which the
agent, with various client- parties are to act on their
government agencies for the respective responsibilities to
procurement of goods, fast track the procurements of
services including goods and services including
infrastructure projects have infrastructure projects;
no provision for a definite
time frame within which the b. For idle funds totaling P7.931
parties are to perform their billion, require the concerned
respective responsibilities, client-government agencies to
resulting in delays in the immediately submit the
implementation of the TOR, AOR and other
procurements. Likewise, necessary documents so that
funds were transferred to the procurement of goods and
PITC despite the absence of services could be
complete documentation, implemented; otherwise,
specifically the Terms of remit/transfer to the National
Reference (TORs) and Treasury the funds
Agency Outsourcing pertaining to client-National
Requests (AORs), thus Government Agencies
procurements could not be (NGAs) or the concerned
immediately pursued that client-GCs, and inform the
resulted in the accumulation concerned Source Agencies
of idle funds totaling P7.931 (SAs) of the transfer thereof;
billion as of December 31,
2018. Moreover, the c. Henceforth, see to it that all
provision in the MOA on the the necessary documentation
interest earnings of the fund are provided by the client-
transfers is contrary to government agencies/SAs
Section 65 of PD No. 1445 before requiring them to
and Department of Finance transfer the funds to ensure
(DOF) Circular No. 01-2017 the timely procurement of
dated May 11, 2017, thereby, goods and services and
depriving the client- prevent the funds from
government agencies of becoming idle; and
additional resources.
d. Remit to the Bureau of the
Treasury (BTr) all interest
earnings of the fund transfers
in compliance with Section
65 of PD No. 1445 and DOF
Circular No. 01-2017 and
inform the client-government
agencies of the remittance
249
Amount
(in thousands)
thereof.
Philippine National Construction Corporation (PNCC)
Recognition of the Recognize the P5.552 billion 5,551,727
unconverted debts as equity unconverted debts as liability in (unconverted
and the non-recognition of the books of accounts of PNCC, debts)
interests and other charges instead of equity, together with 62,327,829
thereon resulting in the the interests and other charges (interests &
understatement of total thereon of P62.328 billion as of penalties)
liabilities and overstatement December 31, 2018.
of total equity both by
P67.880 billion and P65.356
billion as of December 31,
2018 and 2017, respectively.
Philippine Pharma Procurement, Inc. (PPPI)

Interest earned amounting to Remit to the BTr all interest 662
P0.662 million on High Yield income for the fund transfers
Savings Account (HYSA) for from the DOH in compliance
fund transfers in CYs 2016 with Section 65 of P.D. No.
and 2017 totaling P211.094 1445 and DOF Circular No. 01-
million held in trust by the 2017.
PPPI for the Department of
Health (DOH) was not
remitted to the Bureau of the
Treasury (BTr) contrary to
Section 65 of Presidential
Decree (PD) No. 1445 and
Department of Finance
(DOF) Circular No. 01-2017
dated May 11, 2017, thereby
depriving the National
Government of additional
resources.
250
Amount
(in thousands)
Philippine Retirement Authority (PRA)

There was over procurement a. Exercise prudence in the use 1,580
of laptops in CYs 2016 and of resources; henceforth,
2017 considering 44 units require complete report on
with estimated value of the status of the existing
P1.580 million remained computer equipment/laptops
unissued to end-users and are from ICTD before procuring
still stored in the Information new units to avoid over
and Communications procurement;
Technology Division
stockroom, exposing these b. Hold responsible the
assets to deterioration and personnel concerned for the
obsolescence. over procurement of laptops;
and
c. Require the Property Unit to

cause the preparation/
accomplishment of the
ARE/PAR to establish
accountability over the 44
laptops stored at the ICTD
Stockroom.
Philippine Reclamation Authority (PRecA)

The reliability of the share in a. Seek the assistance of the 1,490,811
the Project Income of the Toll Regulatory Board:
Manila Cavite Toll
Expressway Project a.1 in gathering the data
(MCTEP) covering the years necessary in determining
1998 to 2018 is doubtful the loans and interest
because of PRA’s inability to payments, costs
determine whether the loans advances, capital
and interest costs, cost investments of Cavitex
advances, capital investments Infrastructure
and the Return on Equity Corporation (CIC) and
(ROE) to each of the parties rate of return to be used
were already repaid in full in determining the ROE;
due to insufficient data.
a.2 in determining the
allowable Operations and
Maintenance (O&M)
expenses from December
1, 2006 to December 31,
2018, to facilitate the
determination of the
revenue share of CIC
after deducting the O&M
251
Amount
(in thousands)
expenses; and
a.3 to come up with an

unassailable data on the
repayment of loans and
interest costs, costs
advances, capital
investments and the ROE
pertaining to R-1
Expressway and R-1
Expressway Extension,
to facilitate the
determination of whether
the project income
sharing ratio of 60-40, in
favor of PRA, is to be
effected.
b. Determine the share of PRA

and CIC from the ancillary
income collected from
MCTEP;
c. Determine the correct amount

due to PRA once the 90-10
income sharing ratio, in favor
of CIC, is found to be
incorrect; and
d. Closely monitor the

implementation of the
MCTEP and prepare the
corresponding report to
protect the interest of the
Government.
People’s Television Network, Inc. (PTNI)

PTNI could have earned a. Hold liable the signatories of 42,517
P42.517 million additional Broadcast Contracts without
airtime revenues had airtime Board approval; and
rates been billed/charged to
TV Shop program in b. Strictly comply with the
accordance with the PTNI Approved Airtime Rate
approved PTNI Airtime Rate Cards and the Programming
Card; thus, depriving the Guidelines for Blocktimers
Network of funds to be used for the discounts in granting
in its operations or interest airtime rates to blocktimers.
that could have been earned
252
Amount
(in thousands)
had the amount been
collected and placed in time
deposits or short-term
investments.
GSIS loan deductions from a. Require the employees 3,321
the salaries of the employees concerned to return the
totaling P3.321 million which amount refunded by PTNI
were paid/settled by PTNI representing the GSIS
with the GSIS through consolidated loan payments
offsetting of its income from deducted from their salary,
media values, specifically the otherwise, hold liable the
GSIS Hour Program with the officers who approved the
Network, were improperly refund thereof or a Notice of
refunded/returned to the Disallowance shall be issued
employees; hence, constitutes in this regard; and
irregular disbursement of
government funds and b. Comply with the provisions
depriving the Network of the as stated under Section 6(b)
use of the funds or the of RA No. 8291 with regard
interest that could be earned to the mandatory obligations
had the money been of employer to regularly
deposited or placed in short- remit to the GSIS not only
term investments. the loan payments but also
the compulsory premium
contributions deducted from
the salaries of its employees.
Small Business Guarantee and Finance Corporation (SB Corporation)

The Corporation’s a. Secure the services of the NQ
procurement of consultancy Corporation’s in-house
services for the personnel preferably from the
implementation of Enterprise Controllership, Internal Audit
Enhancement Program and Capacity Building
(EEPro) does not fall under Groups, to act as lecturer/
the purview of Consultancy resource person in the
Services as defined under conduct of EEPro training to
Section 5 of Republic Act save time and money;
(R.A.) 9184. Thus, the rate of
the professional fee of the b. Make use of the EEPro
selected Resource Person training materials submitted
could be simply based on the by the previous trainers to
guidelines prescribed under serve as reference/guide to
Section 4 of DBM Budget the would be in-house
Circular No. 2007-1 dated trainers;
April 23, 2007, and not based
on the quoted price of the c. Refer to Sections 4.2 and 4.3
Lowest Calculated of DBM Budget Circular No.
Responsive Bidder/Highest 2007-01 dated April 23, 2007
253
Amount
(in thousands)
Rated Responsive Bidder as basis for the payment of
pursuant to Section 34.4 of honorarium of trainer/s
the Revised IRR of R.A. No. coming from the private
9184. sector;
d. As Section 4.5 of the said

Budget Circular does not
allow granting of honoraria
to in-house resource
personnel of sponsoring
government agencies, they
should only be provided with
corresponding travelling
expenses when conducting
out-of-town training/
seminars, pursuant to Section
4 of the same DBM Circular;
and
e. Be mindful that procurement

for consultancy services may
only be undertaken if
intended services to be
procured falls under the
purview of Section 5 of R.A.
No. 9184.
Sugar Regulatory Administration (SRA)

The implementation of the Direct the: 874,697
Block Farm Program (BFP), a. Planning Policy, and
with budgeted amount of Special Project Department
P874.697 million for (PPSPD) in coordination
Calendar Years (CYs) 2016 with BFP Technical
to 2018 did not strictly Working Group, Focal
adhere to the Department of Person, Mill District
Agriculture (DA) Department Officer (MDO) and
Circular (DC) No. 07, Series Technical Assistants (TAs)
of 2015 and SRA to include the provisions in
Memorandum Circular (MC) the guidelines in
No. 7 because the monitoring monitoring of BFP the: (a)
reports on the Program activities to be performed
implementation were not and report resulting from
prepared, submitted, the review of monitoring
reviewed, and evaluated as reports; (b) timelines
required in the Guidelines. on the submission and
Thus, the causes of delay review of the monitoring
were not immediately reports including the
addressed resulting in low formats to be used for easy
254
Amount
(in thousands)
fund utilization of 19.08 per consolidation; and (c)
cent as at December 31, analysis of the fund
2018. Moreover, utilization against the
disbursements for the release actual accomplishments;
of start-up capital in the
amount of P14.171 million b. Technical Personnel to
were not supported with the strictly comply with the
evaluation of Block Farms’ Memorandum of
(BFs) agricultural inputs Agreement; and to: (i)
requirements, as prescribed submit the assessment
in the project guidelines and report on the BFs
Section 4(6) of PD No. 1445 agricultural inputs’
on the submission of requirements to be the basis
complete documents on all of the release of start-up
government fund capital; (ii) conduct regular
disbursements. monitoring, review and
evaluation of the
implementation of the BFs;
and (iii) submit the bi-
monthly reports to the
MDOs for review and
validation to address
immediately the problem
that are currently
hampering the delivery of
the interventions to the
BFs; and
c. BFP Area Focal Persons to

review the bi-monthly
reports submitted by the
TAs and validated by the
MDOs and consolidate the
same and prepare an over-
all report on the status of
the implementation of the
BFP to be submitted to the
Administrator, and the
Managers of Research
Development and
Extension Department and
PPSPD.
The delay in the issuance of Fast track the implementation of 692,697

Implementing Rules and the SCP and direct the SCP-
Regulations required under Technical Working Group and
the Department of Focal Persons to:
Agriculture Department
255
Amount
(in thousands)
Circular No. 07 - a. Formulate guidelines on the
Implementing Rules and monitoring and evaluation
Regulations (IRR) of the of the implementation of
Sugar Industry Development the project which shall
Act, and the absence of include, among others: (i)
evaluation and monitoring the procedures/activities to
guidelines in the be undertaken, (b) persons
implementation of Socialized responsible, (c) timelines
Credit Program (SCP) for each activity, and (d)
required in the IRR of SCP reporting and review;
resulted in inadequate
evaluation and monitoring of b. Prepare Financial Plan for
the implementation of the the SCP that includes
SCP; hence, the causes of targets and timelines for its
delay in the implementation implementation for CY
of the program were not 2019 taking into
addressed immediately. consideration the expected
Thus, no loan was released completion of the Program
out of the funds received in in five years commencing
CYs 2016 and 2017 of from the date of transfer to
P692.697 million as at Land Bank of the
December 31, 2018. Philippines (LBP) in May
2017, as required in Section
E, General Policies and
Guidelines, Item No. 11 of
the Joint Memorandum
Circular No. 1, Series of
2019 dated January 25,
2019;
c. Closely coordinate with

LBP-Lending Centers to
address the
problems/causes that
hamper the release of
proceeds of the loan
applications of farmers the
SRA have endorsed; and
d. Facilitate the immediate

conduct of Training on
Financial Literacy on one
Mill District with 61 loan
endorsements but without
trainings to facilitate the
loan releases.
256
Amount
(in thousands)
Trade and Investment Development Corporation of the Philippines (TIDCORP)

Several information required Disclose all the information NQ
by the PFRS to be disclosed required by the pertinent PFRS
in the Notes to the Financial in the Notes to the FS.
Statements (FS) were not
presented therein, thus, the
fair presentation of the
accompanying FS of
TIDCORP for CY 2018 is
adversely and materially
affected.
Tourism Infrastructure and Enterprise Zone Authority (TIEZA)

Travel tax assessments a. File legal actions against 104,308
amounting to P104.308 erring airlines to protect the
million due and collectible interest of the Authority; and
from different airlines
remained uncollected, b. Formulate applicable policy
depriving the Authority as with regard to assessments
well as the National due from airlines with ceased
Government and other operations and from foreign
government agencies of debtors who filed for
additional funds needed for bankruptcy.
operations.
Tourism Promotions Board (TPB)

The Advertising, Direct the Accounting 722,147
Promotional, and Marketing Department to:
Expenses (APME) account
totaling P722.147 million as a. Take appropriate trainings
at December 31, 2018 was on government accounting
misstated due to: and related topics including
PPSASs;
1. Transfers of funds to
Implementing Agencies b. Make the necessary
totaling P64.315 million correcting entries on the
were recognized as various erroneous entries
APME instead of Due made under APME and
from National other affected accounts;
Government Agencies
(NGAs), contrary to c. Be extra careful in
Section 63, Chapter 6 of recording the transactions
GAM, Volume I; in the books of accounts;
2. Set-up of previously d. Submit to the Audit Team

reverted A/P amounting the documents pertaining to
257
Amount
(in thousands)
to P103.350 million the payments made to
representing foreign suppliers totaling
expenditures in prior P75.945 million, such as,
years was debited to ORs, contracts, Inspection
APME account instead and Acceptance Reports,
of adjustment to validation reports of the
Accumulated actual accomplishments
Surplus/(Deficit) vis-à-vis the stipulated
account; and deliverables; otherwise, a
Notice of Suspension will
3. Understatement of be issued; and
APME in the amount of
P0.987 million due to e. Henceforth, ensure that all
error in recording unused Journal Entry Vouchers
inventory. Likewise, the (JEVs) and payments are
propriety of the adequately/sufficiently
payments to foreign supported with necessary
suppliers totaling documents.
P75.945 million
recognized as APME
was doubtful due to
absence of Official
Receipts, contracts and
other relevant
documents as proofs of
inspection, acceptance
and validation of the
deliverables vis-à-vis
actual accomplishments.
The propriety and legality of a. Strictly comply with Sections 80,640

expenditures totaling P80.640 7.1 and 7.2 of RA No. 9184
million incurred on the and Section 85(1) of PD No.
“Buhay Carinderia” Project, 1445;
implemented in CY 2018,
were doubtful due to: (a) the b. Henceforth, ensure that all
total cost of the contract for projects to be implemented
the project was charged to the by TPB are included in the
CY 2017 budget though it APP/PPMP and COB;
was not included in the
Annual Procurement Plan c. Require the MII to refund the
(APP) and Project amount for final VAT
Procurement Management amounting P3.600 million
Plan (PPMP) for CYs 2017 which was not deducted in
and 2018, contrary to the final payment of the
Sections 7.1 and 7.2 of contract on Buhay Carinderia
Republic Act (RA) No. 9184 Project for remittance to the
or the Government BIR; otherwise, a Notice of
258
Amount
(in thousands)
Procurement Reform Act; (b) Disallowance shall be issued;
no actual savings in CY 2017 d. Ensure that the contract
budget as the receipts vis-à- entered into with the
vis expenditures registered an proponent is not
overdraft of P256.314 onerous/disadvantageous to
million, but still said Project the government, exercise due
was charged to the budgetary diligence in the utilization of
allocation of said year, government funds;
contrary to Section 85(1) of
PD No. 1445; (c) non- e. Require MII to submit: (i) the
deduction of five (5) per cent liquidation reports duly
Final Value Added Tax supported with relevant
(VAT) equivalent to P3.600 documents of all tranches
million from Marylindbert paid/released by TPB in the
International, Inc. (MII), in total amount of P80.640
violation of Section 114 of million; otherwise, a Notice
the National Internal Revenue of Suspension shall be issued,
Code (NIRC); and (d) various and (ii) details and supporting
provisions of the MOA that documents relative to its 20
were disadvantageous to the per cent equity share on total
government. cost of the Project; and
f. Identify the persons liable to

this onerous contract and
institute appropriate legal
action against them, if
warranted.
National Transmission Corporation (TransCo)

The Deferred Credits/ a. Require the Asset 7,719,927
Unearned Income account in Management and Property
the amount of P153.134 Accounting Division to
billion remained unreliable continue the on-going
contrary to PPSAS 1 reconciliation of the variance
Presentation of Financial with the Concessionaire and
Statements due to the immediately make
following: adjustments in the books
when necessary;
1. Material variance of
P6.992 billion between b. Conduct inspection and
the amount of P54.908 validation of the assets
billion recorded in the relating to projects
books of TransCo and funded/completed by the
the amount of P61.900 Concessionaire and not yet
billion confirmed by recorded in TransCo’s books;
National Grid and
Corporation of the
259
Amount
(in thousands)
Philippines (NGCP) for
the cost of completed
transmission assets or
projects of TransCo
funded by NGCP from
commencement date up
to December 31, 2018;
and
2. Deferred Service Establish a time-bound action 54,907,760

Concession Revenue in plan that will facilitate the
the amount of P54.908 determination of the estimated
billion at year-end amount of Recovery Payment to
remained unamortized. enable the Finance Department
to amortize the earned revenue
portion of the liability account
and recognize revenue account to
present fairly their balances
pursuant to PPSAS 32.
Veterans Federation of the Philippines (VFP)

The Veterans Federation of Fully adopt the PPSASs as its NQ
the Philippines (VFP) was Financial Reporting Framework
not able to comply with the starting CY 2019 in compliance
requirements set forth in with COA Circular No. 2017-
COA Circular No. 2017-004 004 dated December 13, 2017.
dated December 13, 2017
and the Philippine Public
Sector Accounting Standard
(PPSAS) 33 on First-time
Adoption of Accrual Basis
International Public Sector
Accounting Standards
(IPSASs) despite its
representation that the
financial statements for CY
2018 have been prepared in
accordance with PPSASs,
thereby defeating the
objective of presenting high
quality information that
provides transparent
reporting about the first-time
adopter’s transition to accrual
basis IPSASs.
260
Table IV-2A Summary of Common and Significant Observations and
Recommendations of GCs in NCR and Stand-Alone Agencies in the Regions
Amount
Common Audit
Recommendati ons GCs affected (in
Observations
thousands)
A. OPERATIONS
Dividends were: (1) a. Comply with the provisions APO2 63,776
not/under declared; or (2) of Section 18 of Republic BSP1 & 3 4,498,000
not remitted; or (3) with short Act (R.A.) No. 3591, as HSDC1 & 2 9,908
remittance to the National amended by R.A. No, LLDA 3 9,335
Government (NG) 10846/Section 3 of R.A. PADC1 23,890
7656 (now Section 5.a.i of PCSO1 & 2 8,426,019
R.A No. 7656 [2016]) and PAFC1 83,341
Section 5 (e) of its Revised PDIC1 2,006,148
IRR on the computation, PDMC1 & 2 85,883
declaration and remittance PICCI2 150,327
of dividends to the NG; PRecA 2 489,093
VFP1 337,004
b. Declare and/or remit the
dividend due to NG; and
c. Settle the dividends in

arrears due to the NG once
the report for exemption is
denied by the DOF.
Funds received intended for a. Coordinate with the SA for LCP1 1,066
project or program the proper disposition of the LWUA 2 121,583
implementation were: (1) not unutilized portion in NEA 1 & 2 2,671,281
utilized or remained idle; or accordance with the PCMC2 2,787
(2) unexpended/unutilized provisions of the PITC2 349,419
balances were not remitted to Memorandum of Agreement PNR2 25,096
Source Agency (SA) for (MOA) between and among
several years thus, delaying the parties;
the attainment of the
purpose/s for which the funds b. Return to SA the unexpended/
were granted. unutilized balance upon the
completion of the project in
accordance with the
provisions of the MOA
between and among the
parties; and
c. Request for realignment to

other projects, if warranted,
the unutilized fund balances.
The (1) partial a. Explain the reasons for the DBP1 NQ

implementation; or (2) non- failure to complete the LWUA 3 295,042
implementation; or (3) project within the set MWSS3 64,556
uncompleted programs/ plans timeline; NEA 1, 3 & 5 NQ
within timelines; or (4) NPC5 NQ
unutilized projects; or (5) b. Require the Project/Program PFDA 3 & 5 286,389
delay in the opening and Officer to monitor closely the PNR2, 5 & 5 225,848
operationalization/ status of implementation of SHFC3 725,379
261
Amount
Common Audit
Observations
thousands)
implementation of the project approved programs/projects
resulted in: a) deprivation/ to avoid any slippages and to
suspension in the take immediate and
implementation; (b) delayed appropriate corrective
delivery/ implementation of measures necessary to
services to intended complete the same within
beneficiaries; and (c) timeline;
inconsistencies with existing
policies. c. Provide/enforce sanctions for
non-completion or failure to
deliver required output/s on
time;
d. Strictly adhere with the

agency policy on the
implementation of the related
program;
e. Revisit the policy to include

the specific purposes where
the funds for wholesale
lending shall be utilized; and
f. Require the Contractor/

Consultant to refund the
liquidated damages or deduct
the said amount from future
billings of said contractor for
any project undertaken by
them otherwise, a Notice of
Disallowance shall be issued
by the Audit Team for the
recovery of the amount
involved; or implement the
remedies provided in the
Agreement against the
Contractor.
The continued incurrence of a. Adopt viable measures to CFI 46,711

losses resulted in unfavorable improve income generation GYREI 54,945
financial condition and posed in order to sustain the NRDC 176,897
risk of sustainable operations Agency’s operations and PADC 177,904
and inability to achieve the carry out the its mandate; PAGCOR(CF-Manila Bay ) 2,113,000
mandated functions and PNOC-RC 227,194
objectives of concerned GC. b. Conduct a study of each PPPI 454,950
entity’s viability and consider
Agency Applicable the following:
years
CFI 2014-2018 b.1 Preserve the entities’
GYREI 2011-2018 existing facilities to conserve
NRDC 2004-2018 government investments;
PADC 2013-2018
PAGCOR(CF- 2014-2018 b.2 Revisit the marketing
Manila Bay ) plans and enhance the
PNOC-RC 2013-2018 existing sales and marketing
PPPI 2006-2018 revenue generating
capabilities of the different
262
Amount
Common Audit
Observations
thousands)
entities in order to reduce its
operating losses and
eventually become profitable.
Likewise, introduce economic
measures to reduce operating
costs of these entities;
b.3 Plan and implement

preventive solutions to avoid
incurrence of net loss in the
ensuing years;
b.4 Privatization, divestment

or disposal of properties as
prescribed under COA
Circular No. 89-296; and
c. Disclose the financial

condition in the Notes to
Financial Statements as
required under paragraph 25
of PAS 1.
The (1) delayed/non- a. Update the accounting HSDC1 & 2 NQ

approval/ non-finalization of records/books of accounts, NABCOR2 NQ
Liquidation Plans; or (2) prepare the financial NIACI1 & 2 NQ
incomplete/non- statements on a liquidation PADCC2 NQ
performance of the activities basis and perform all other PFC2 NQ
to resolve the matters under accounting activities PHILSUCOR1 & 2 NQ
Governance Commission necessary in the closing of QUEDANCOR1 & 2 NQ
for Government-Owned or the books of accounts to ZREC2 NQ
Controlled Corporation ensure the transfer of the
(GCG) Memorandum balances in the books of
Circular No. 2015-03 and accounts of concerned
COA Circular No. 92-375 government agency; and
on the abolition/dissolution
of GCs resulted in the: (a) b. Undertake the activities to
delay in the disposition of resolve the matters under
assets and liabilities of GCG Memorandum Circular
dissolved GCs; (b) delay in No. 2015-03 and COA
the transfer of account Circular No. 92-375 by
balances to the books of adopting the suggested
accounts as well as delay in template for the activities to
the implementation of the be undertaken which include
GCs functions and timelines and persons
programs; and (c) responsible on the
incurrence of further losses. dissolution/liquidation of the
agency.
263
Amount
Common Audit
Observations
thousands)
The (1) actual expenditures a. Verify the causes of the APO2 NQ
exceeded the Corporate significant excesses of the DBP1 NQ
Operating Budget (COB); or actual expenses over the OFBI1 65,109
(2) COB and other related budget and ensure that PDGCC2 NQ
financial reports were not expenses are incurred and SUMSI2 NQ
prepared/submitted contrary paid in accordance with
to the procedures and approved appropriation;
guidelines prescribed by the
Department of Budget and b. Prepare and submit the
Management (DBM), annual COBs and other
Corporate Budget Circular requisite financial reports in
No. 20 dated April 27, accordance with the
2005/Section 6 of Executive procedures and guidelines
Order (EO) No. 518 dated prescribed under DBM
January 23, 1979/Section 3 Corporate Budget Circular
of DBM Budget Circular No. No. 20, Section 6 of EO No.
22 dated December 1, 518/Section 3 of DBM
2016/R.A. No. 10633/Section Budget Circular No. 22 and
4 (1) of PD 1445. comply with RA 10633/
Section 4 (1) of P.D. 1445;
and
c. Review projections/estimates
or determine the significant
considerations in estimating
the reasonable amounts of
expenses in the budget for
proper allocation and
prioritization in the
utilization of funds to ensure
that disbursements are within
the approved budget.
The (1) absence of a. Execute contracts with the GSIS3 NQ

agreement/lease contract; or current tenants with respect MWSS1, 2 & 3 NQ
(2) non-implementation of to the use and rental of the NPC2 NQ
the lease contract provisions; transferred/acquired assets ; PAFC1 NQ
or (3) failure to renew the PNOC EC1 147,618
expired agreement/lease b. Execute a duly signed and PPC2 NQ
contract may disrupt the notarized contract/renewed SHFC3 98,219
service resulting in the contract for the expired lease
inconvenience to the Agency contracts or before turning
or may deprive/ delay the over the property to a lessee
opportunity of the Agency to in compliance with Article
collect and utilize the funds 1403 of R.A. No. 386/COA
for its operations. Circular 88-282A/applicable
provisions of the Agency’s
Manual of Operations of the
Acquired Asset Department;
c. Strictly implement the

provisions of the lease
contract; and
d. Adopt a measure to ens ure

that the renewed terms are
negotiated at a reasonable
264
Amount
Common Audit
Observations
thousands)
period prior to the expiration
of the existing contract.
Handling of dormant/inactive a. Send notification letters to DBP 49,042

deposit accounts contrary to all depositors whose LBP 114,316 &
BSP Circulars Nos. 871 and accounts are about to US$1,484
928, and the Bank’s Manual become dormant and whose
of Procedures, thereby accounts are already
exposing dormant accounts dormant; and
to risks of errors or fraud that
may compromise the interest b. Comply strictly with the
of the Bank and its regulations on handling
depositors. dormant accounts.
Incompatible functions/non- Create a new organizational GSIS NQ

segregation of duties exposed structure to institute an PEZA NQ
government funds to risks of independent financial recording SHFC NQ
loss/misuse/misappropriation and reporting office or install
, contrary to International adequate internal control
Organization of Supreme system and strictly enforce
Audit Institutions proper segregation of duties and
(INTOSAI) Guidance for functions by assigning the roles
Good Governance, Section to different individuals for
123 of P.D. 1445, and check and balance to safeguard
National Guidelines on government funds and other
Internal Control System resources and prevent or avoid
(NGICS). exposure to misuse or
misappropriation of said
funds/resources.
B. FINANCIAL AND COMPLIANCE

Cash
The accuracy of the Cash and a. Prepare and/or update BSoP1, 2 & 5 NQ
Cash Equivalents account regularly the BRS at the close CITEM 1, 2 &5 5,059
was not established due to of each month or regularly DAP1 7,906
either or combination of the prepare periodic HDMF1 44,260
following : reconciliation report to LCP1 13,440
resolve the variances noted LRTA 1, 3 &5 2,269,365
(1) unadjusted reconciling between the Reports and the LWUA 3 NQ
items between the books GL in compliance with MWSS1 1,271
and bank Section 74, P.D. 1445; NEA 5 121,297
balances/General Ledger NHMFC4 29,458
(GL)/Subsidiary Ledger b. Make representation with the NKTI5 23,334
(SL); banks for the submission of NPC5 8,205
the debit and credit advices NRDC3 & 5 3,442
(2) discrepancies between and other relevant documents PCSO2 & 5 558,283
the book balances and to support the \recording of PEZA 2, 3 & 5 15,526
banks’ confirmation bank reconciling items; and PNR1 & 5 8,057
replies; PPC1, 2, 3 & 5 566,858
c. Analyze and identify PRA 2 & 3 NQ
(3) non-preparation of bank discrepancies, all PTNI2 21,772
reconciliation statements unreconciled items and QUEDANCOR3 &5
20,606
(BRS); prioritize/exert efforts to SCAD2 & 3 844
reconcile the long, VFP2 & 3 NQ
(4) discrepancies between unaccounted bank
the Collection Reports transactions; and effect the
265
Amount
Common Audit
Observations
thousands)
and the GL; and necessary adjustments to
reflect the correct balances of
(5) erroneous/non-recording the affected accounts for fair
of transactions, etc. presentation.
Unreleased checks/stale Revert back to Cash in Bank and BSoP 1,022

outstanding checks were not other affected accounts the PEZA 534
restored to the cash balance amount of unreleased checks at PPC 1,271
contrary to COA year end in compliance with
Government Accounting and GAFMIS Circular Letter No.
Financial Management 2002-001.
Information System
(GAFMIS) Circular Letter
No. 2002-001.
Accountable Officers were Comply strictly with Treasury NPC NQ
not bonded; not adequately Circular No. 02-2009 governing PNCC NQ
bonded; with expired the bonding of accountable PPA NQ
Fidelity bond; with bond officers. PSALM NQ
renewed after the expiration SHFC NQ
of the term of the bond, thus SUMSI NQ
exposing government funds
to risk of possible loss,
contrary to Sections 101 of
PD 1445 and 5.1 and 5.3 of
Treasury Circular No. 02-
2009 dated 6 August 2009.
Investments
Erroneous recording in the Analyze and prepare the AFPRSBS 583,000
books of accounts resulted in necessary adjusting entry to APO 107,820
doubtful validity of the reflect the accurate balance of NHMFC 673,443
balance of Investment and the accounts affected. PSALM NQ
other affected accounts.
Faithful representation of Adjust investments in equity LBP 161,795
the investments in equity conforming to the recognition DBP 20,968
securities recorded in the criteria of asset and applying the
books could not be correct measurements of
established due to non- financial assets in accordance
compliance with paragraph with the aforementioned
4.1.4 and B5.2.3 of provisions of PFRS.
Philippine Financial
Reporting Standards (PFRS)
9 and 4.4 and 4.44 of the
PFRS Conceptual
Framework for Financial
Reporting.
Loans and Other Receivables

Loans/contracts/accounts a. Continuously monitor and BCDA 13,594
receivables/interest intensify efforts to increase CAAP 2,140,756
receivables/ other receivables collection of receivables/ CEZA 167
remained uncollected or have ensure that reminders are DBP 661,029
been long outstanding/past continuously served to GSIS 3,676,000
due/dormant, thus, exposing clients; HDMF 1,072,156
the Corporation to liquidity b. Devise other options and if HGC 967,990
266
Amount
Common Audit
Observations
thousands)
risk and reduced amount of warranted, resort to legal HSDC 478,344
resources for means to enforce settlement LBP 234,062
operations/lending/relending of accounts including those LCP 13,041
that could have generated pertaining to prior years LWUA 49,703
additional income for the without request for write off; MWSS 139
Corporation and casting NDC 539,354
doubt on the accuracy of the c. Exhaust all viable means to NEA 84,024
balances. collect all long outstanding/ NHA 6,811,422
dormant/delinquent NPC 4,243,292
receivable or past due OFBI 2,304,188
accounts and ensure proper PAFC 124,539
documentation of accounts PAGCOR 11,740
and coordination of PCMC 27,374
concerned Agencies; PEZA 29,438
PITAHC 1,489
d. Submit plan of actions/s et PNOC 70,090
collection targets and PNOC EC 265,240
timelines/revisit and modify, PPA 282,194
if necessary, the existing PPC 162,148
procedural guidelines to PRecA 3,205,307
determine and assess PSALM 1 1,117,535
collectability of the accounts SB Corporation 802,748
as basis for further action to TIDCORP 474,781
be undertaken; TransCo 35,300
e. Identify long outstanding

accounts which qualify for
write-off under COA Circular
No. 2016-005 dated
December 19, 2016 and
initiate applicable procedures
provided under the said
Circular;
f. Include specific timelines on

the conduct of evaluation and
investigation to facilitate
determination of the proper
accounting of penalties paid;
and
g. Establish validity/existence
of the receivables/accounts
and conduct analysis and
reconciliation to prevent
uncertainty in the reported
balance.
Discrepancies between the Prioritize the reconciliation, BCDA 656,732
GL and SLs/reciprocal analyze the causes of CAAP 1,344,901
accounts of receivable and discrepancies between the GL DAP 46,299
payable and/or against the and SLs, reciprocal accounts, DISCCBGSI 25,388
aging schedules/ Monthly aging schedules, and HDMF 29,614
Data Sheet (MDS)/ results of confirmation replies and cause HGC 3,752
confirmation resulted in the reconciliation/adjustment of LBP 734,971
unreconciled items; hence, affected accounts to reconcile LCP 5,164
the correct balances of their balances. LRTA 327,978
receivable accounts cannot LWUA 974,190
267
Amount
Common Audit
Observations
thousands)
be ascertained. MWSS 22,705
NEA 415,040
NFA 2,000
NHA 2,398,437
NIA 14,058,146
NPC 270,876
PAFC 690
PDA 5,000
PEZA 2,757
PNCC 105,488
PNOC 12,089
PNR 218,961
PPC 27,791
PSALM 9,951,039
PSTC NQ
QUEDANCOR 1,588
SHFC 675,986
TPB 156,165
Unsubstantiated/incomplete/ a. Exert all effort to trace the AFPRSBS 948,318
non-maintenance of reports, balances of receivable LCP 5,842
subsidiary ledgers/contracts/ accounts together with their MWSS 79,887
aging schedules and/or non- supporting documents; NHA 1,061,531
submission of sup-porting NIA 7,000
documents cast doubts on the b. Maintain/update the required PCIC 78,286
existence of the receivable SLs; PNR 32,485
and the Corporation’s rights
over them. c. Expedite the execution of the
required contract and/or
locate and submit the
required documents to
establish validity of claims
and to support the recorded
transactions in the books or
exercise disposition;
d. Strictly comply with the

pertinent laws, rules and
regulations relative to the
execution of the contract or
release of the required
title/documents; and
e. Determine the persons liable

for the non-compliance with
pertinent laws, rules and
regulations/internal control
procedures and provide the
proper sanction.
Existence of negative/ Verify/analyze the abnormal BCDA 556

abnormal balances in the SLs balances of Accounts Receivable HDMF 362,007
of Accounts Receivable, and effect the necessary HGC 62,964
signified errors in the adjustments. LCP 5,328
recording of transactions. NIA 14,895
NHA 41,090
PCMC 603
PRRI 21,846
268
Amount
Common Audit
Observations
thousands)
QUEDANCOR 47,390
TPB 18,709
Delayed posting of a. Exert more effort to identify AKPF-HGC 63,425

Undistributed Collections the depositors/borrowers and GSIS 3,393,298
(UC)/Accounts for Clearing post the UC/AC to the HDMF 3,424,019
(AC) representing collections specific SL account of the HGC 6,282
of premiums and/or loans to member/depositor/pensioner/ NHMFC 55,893
the individual account of borrower and make the SHFC 430,326
members/ necessary adjustments in
pensioners/borrowers accordance with pertinent
affected the accuracy of rules and regulations; and
individual data recorded in
the subsidiary ledgers b. Establish a timetable for the
contrary to Paragraph 15 of continuous clean-up of the
PAS No. 1 depriving the UC/AC accounts to
members of the privileges in minimize its accumulation
availing higher loan amounts, and adjust affected accounts
dividends and maturity accordingly.
claims.
Non-enforcement of the a. Strictly enforce/comply with HDMF 12,385
provisions of the sales/loan the terms and conditions of HGC 3,221,142
contracts/agreements or the sales/loan contracts/ PNR 55,573
deficiencies in the provisions; SHFC 725,379
implementation of policies
against defaulting buyers/ b. Undertake necessary course
borrowers resulted in the of action to effect the
non-rescission of said rescission/termination of said
contracts and the contracts and the consequent
accumulation of long consolidation of title of the
outstanding past due subject property in the name
accounts. of the lender Corporation;
and
c. Carefully study similar

contracts/agreements to be
entered into to avoid
unnecessary losses and
disadvantageous terms on the
part of the Corporation and
delayed completion of
projects.
Erroneous recording/ Prioritize the analysis and BSoP 27,658

classification or non- reconciliation of the affected LBP 193,675
recognition/non-recording in accounts and prepare the LCP 17,862
the books of accounts necessary adjusting entry to LRTA 2,058,446
resulted in the doubtful reflect the accurate balance in LWUA 682,859
validity of the accounts and the financial statements. MWSS 90,636
misstatement of the affected NDA 6,034
accounts. NEA 157,727
PSALM 3,025,537
PSTC 507
PPC 226,850
QUEDANCOR 55,431
TPB 6,980
269
Amount
Common Audit
Observations
thousands)
Allowance for impairment a. Review and analyze AKPF-SHFC2 260,219
loss/provision for Expected thoroughly the receivable CAAP1 NQ
Credit Losses accounts to determine/ DBP2 583,664
(ECL)/probable loss was recognize the appropriate HGC1 5,939
either (1) not provided or (2) allowance for doubtful NIA 2 7,276,556
in excess or inadequate due accounts/impairment loss in PHC1 NQ
to deficiencies/errors in compliance with PFRS PNOC-RC1 NQ
computation/without bases/ 9/PAS 39/PPSAS 29; TIDCORP2 932,978
absence of objective
evidence of asset b. Prepare adjusting entries to
impairment/does not conform ensure fair presentation of the
or contrary to PFRS 9/ PAS receivable accounts and the
39/PPSAS 29, resulting in related expense accounts in
the misstatement of the compliance with PPSAS 29;
receivable and related and
expense accounts.
c. Formulate comprehensive
guidelines on the provision,
assessment, measurement and
recording of impairment
losses of recorded assets as
required under PFRS 9 and
PAS 39.
Cash Advances
Cash advances granted to a. Cause the immediate APECO 13,884
officers and employees liquidation of all outstanding CAAP 2,264
remained unliquidated, cash advances where the CDC 2,809
contrary to COA Circular 97- purpose/s for which it was CEZA 215
002 and Section 89 of P.D. set-up or established were PRRI 1,506
1445. already served/and those VFP NQ
which remained unused for
over two months in
accordance with existing
laws, rules and regulations;
and
b. Take appropriate legal

actions to enforce the
liquidation or recovery of
unliquidated cash advances.
Inventories
The accuracy and existence a. Analyze, reconcile and CAAPd & f NQ
of various recorded inventory provide full accounting of the LRTA b & c 216,939
items could not be differences in the books / LWUA d NQ
determined due to either or records/reports/stock cards NEA d 5,231
combination of the and the physical count and NKTIa & b 11,443
following: (a) unreconciled effect the necessary NPCb 919,056
balances; (b) discrepancies of adjustments to reflect the PCMCb 2,542
the balances in the books as correct book balance of PNRc 1,794
against the report on the inventories; PPCa & b 95,441
physical count; (c) inclusion PRRIa, b & c 17,958
of obsolete items; (d) b. Maintain/submit the required TIEZA e 8,056
absence or incomplete supporting documents; and
records/improperly
270
Amount
Common Audit
Observations
thousands)
maintained reports/contracts/ c. Conduct and/or complete the
SLs/stock cards and other physical count of Inventories .
supporting documents; and
(e) incomplete/non-conduct
of physical count.
Erroneous recording/non- Analyze and prepare the CAAP 26,130
recognition/misclassification necessary adjusting entry to CCP 23,794
of the inventory account reflect the accurate balance of LWUA 430
resulted in doubtful validity the inventory account and its PAGCOR 61,076
of the said account and other related accounts for proper PNR 256,745
affected accounts in the presentation in the financial
financial statements. statements.
Property, Plant and Equipment (PPE)

The reliability of the balance a. Conduct and/or complete the AFPRSBSe 6,709
of the Property, Plant and physical count of PPE; BSoPa & f 442,839
Equipment (PPE) accounts CAAPe & f 1 19,308,960
was doubtful due to any or b. Analyze and reconcile the CCPe & f 156,457
combination of the following Inventory Report with the HDMFb 96,586
conditions: accounting and property HGCb 22,165
a) incomplete/non-conduct records to establish the HSDCb, e & f 81,858
of physical count; accuracy of the recorded LRTA d 343,332
b) partial/non- balances of the PPE accounts; LWUA e & f 46,958
reconciliation of the MWSSa, b & e 3,944,193
results of physical count c. Prepare the necessary NDA b & e 29,057
with book balances and adjusting entries to correct the NIA b, e & f 11128,886,625
relevant accounting balances of the affected NKTIe 50,919
records; accounts; NPCa, b & d 781,540
NTA b & c 155,516
c) absence/non-submission
d. Submit the required PCA a, b, c & f 178,623
of physical inventory
supporting documents/ PCMCe 11,972
report;
reports; and PEZA e 14,809
d) existence of abnormal 338,658
balances/unrecorded PNOCc
e. For items which cannot be PNOC-RCd 1,447
items; 1,125,981
e) discrepancies between located, investigate the PNRd, e & f
reasons therefor/take PPA b, c & f NQ
the GL and SLs or 1,786,347
physical count/inventory appropriate action against PPCb & f
concerned Accountable PRA e 29,806
reports;and 32,389
Officers in case of lost items PRRIa, d & e
f) Absence/incomplete NQ
property, as appropriate. PSALM b
supporting NQ
PSTCc
documents/SLs/ property NQ
PTNIa & f
cards. 223,452
SRA b & e
TIDCORPb 33,976
TIEZA b & c 2,974,000
Non-recording/erroneous a. Conduct periodic BSoP NQ

recording of transactions or reconciliation of the agencies CAAP 597,295
misclassification/and non- financial reports and records DBP 8,059
transfer of completed PPE on implemented projects, as LRTA 160,019
structure/projects from the these reports and records are MWSS 159,654
Construction in Progress tools to establish the correct NIA 31,247,971
(CIP) accounts resulted in the balance of the CIP; NPC 1,798,172
misstatement of the PPE, CIP NTA 1,129
and other related accounts. b. Transfer completed projects PCA 102,706
from the CIP account to the PNR 753,467
respective asset account;
271
Amount
Common Audit
Observations
thousands)
c. Prepare the necessary
adjusting entries to reflect the
accurate balances of the PPE,
CIP, and other related
accounts; and
d. Conduct physical count of
land not recorded in the
books and hire independent
appraisers to conduct
appraisal of the properties as
the basis in the recognition
thereof in the books of
accounts.
PPE items were not Recognize/compute properly the DBP NQ
depreciated or the depreciation on PPE items in NEA 186
corresponding depreciation accordance with Paragraph 71 of NPC 147,325
were erroneously computed PPSAS No. 17 in order to PNOC-RC NQ
contrary to Paragraph 71 of present a reliable balance of the PTNI 14,680
PPSAS No. 17, COA PPE and the Accumulated
Circular No. 2003-007 and Depreciation account in the
PAS 16, resulting in the Financial Statements.
misstatement of PPE and
other related accounts.
Unserviceable/obsolete a. Cause the disposal of the BSP 65,858
properties remained unserviceable property in CAAP 120,927
undisposed contrary to accordance with Section 79 CITEM 8,972
Section 79 of P.D. No. 1445, of P.D. 1445, COA Circular DBP 5,096
thus, exposing them to No. 89-296, and Section 82 HDMF 41,556
further deterioration and of PPSAS 17 or Paragraph 67 HGC 17,203
depriving the GC of of PAS 16; and LLDA 30,561
additional funds from the MWSS 340,982
proceeds of sale thereof, b. Reclassify said items pending NIA 65,754
and/or were not derecognized their disposal in accordance NPC 517,735
from PPE account thus, the with applicable accounting PEZA 57,423
reliability of the carrying standard requirement/s. PNOC-RC 673
amount of PPE account could PPC 6,842
not be ascertained. PRA 3,729
PSALM 2,570
PSTC 23,334
PTNI 2,052
SRA 12,441
TIDCORP 2,757
TransCo 1,329,939
Other Assets
Erroneous recording/non- Analyze and prepare the LWUA 143,183
recording classification/ necessary adjusting entries and/or MWSS 1,291854
presentation/non-provision of determine the correct impairment NHMFC 824,098
doubtful allowance for loss of the assets and effect the NPC 37,950
impairment/unreconciled necessary adjusting entries to NRDC 734
amounts of other assets reflect the accurate balance of the PDIC 173,191
resulted in the misstatement Other Asset and affected PPC 9,016
of the other asset accounts accounts. PRA 78,608
thus, affected the PSALM 6,539,423
reliability/accuracy of the QUEDANCOR 1,387
Other Assets and the related
affected accounts.
272
Amount
Common Audit
Observations
thousands)
Acquired Assets
Appraisal/re-appraisal of Conduct appraisal/re-appraisal PAFC 2,423,963
acquired assets were not of acquired assets in compliance PNOC-RC 396,247
undertaken regularly to with the operating
determine the recoverable manual/policies.
amount of properties contrary
to PAS 36.
Titles to government land a. Expedite the titling of land AFPRSBS 988,855

assets or properties acquired under the name of the CEZA 8,593
and booked under the concerned GC to safeguard LLDA NQ
Land/Investment Property/ its interest and remove the LWUA 37,397
Property and Equipment cloud of doubt on the MWSS 4,911,803
accounts were not yet ownership issue over the NPC 79,870
transferred/consolidated in property; and PEZA 2,671,705
the name of the concerned PNOC-RC 102,000
GC and/or absence of proof b. Initiate efforts to document PNR 3,164,461
of ownership or failure to and substantiate the PPA 57,845,250
exercise right of ownership ownership over GCs assets SHFC 170,531
rendered the account or submit a comprehensive TIEZA 442,636
doubtful. updated report on the status
of the titling process.
Allowance for impairment Formulate comprehensive NHMFC NQ
loss for the Corporation’s guidelines on the provision, SHFC NQ
Assets was not provided due assessment, measurement and
to insufficient provision and recording of impairment lossess
inadequate/absence of policy of recorded assets as required
contrary to PAS 36 and 39 under PAS 36 and 39.
thus, casting doubt on the
reliability and valuation of
the corporate assets.
Loans/Accounts Payable/Inter-Agency Payables and Other Payables/Liabilities

Several payable accounts a. Analyze/verify/validate and BCDA 91,108
remained confirm the payable accounts DBP 86,101
outstanding/dormant/ not to determine their validity LBP 232,262
settled for more than one and completeness; revert to LLDA 5,708
year resulting in the Retained Earnings NIA 15,383,942
accumulation of long undocumented payables NPC 3,249,928
outstanding payables account which have been outstanding PAGCOR 258,830
and/or incurrence of interest for more than two years as PEZA 14,271
and penalties for non- provided under P.D. 1445; PNOC 3,579
payment of the loans/multi- PNOC-RC 43,031
series bonds/ corporate notes, b. Make necessary measures PNR 3,754
in violation of the pertinent and arrangements for the PPC 216,176
provisions of the settlement of the long TransCo 9,189,244
contract/MOA/rules/regulatio outstanding loans accounts;
ns and Sections 59 and 98 of and
P.D. 1445.
c. Effect the necessary
adjustments to correct the
balances of the account and
related accounts.
273
Amount
Common Audit
Observations
thousands)
Existence of negative Conduct analysis and BSP 105,836
balances of payable accounts reconciliation of the payable CAAP 40,918
and/or discrepancies between accounts and the related affected HGC 11,088,584
the books and the results of accounts to determine the correct LWUA 324,965
confirmation rendered the balance and effect the necessary NIA 12,705,603
reliability of the account adjustments. NPC 99,558
balances questionable. NRDC 1,113
PCA 126,808
PNOC-RC 17,991
PNR 12,285
QUEDANCOR 1,998,429
SHFC 608,773
TPB 194,869
TransCo 291,563
Non-maintenance/incomplete Obtain/locate/maintain/update/ AFPRSBS 12,818,279

/absence of reports, submit the required supporting APO 40,826
supporting documents , valid documents, schedules, reports, CAAP 156,823
claims, SLs, schedules SLs to prove existence, accuracy ECC 5,640
rendered the accuracy and and validity of loan accounts and LBRDC 3,205
validity of the payable others payables. LRTA 77,994
transactions and balances MIAA 433,767
doubtful. NIA 3,316,096
NPC 3,981,441
NRDC 161,446
PCIC 3,254,772
PDA 1,740
PEZA 52,816
PHIC NQ
PNR 196,381
PSALM 1,341,217
QUEDANCOR 16,509
TPB 30,770
Erroneous classification/ Analyze/reconcile and prepare BCDA 2,597

recording/non-recording/ the necessary adjusting entries to BSoP 301,559
inclusion of transactions reflect the correct balances of the DAP 74,824
without basis/non- loans/accounts payable/liabilities DBP 38,868
recognition in the books of and related affected accounts. LRTA 64,262
loans/other payables/and MWSS 1,199,170
existence of discrepancies NDA 15,480
between SL and GL balances NEA 157,727
which practices were NIA 7,320
contrary to PAS 1 resulting NPC 538,078
in the misstatement of the NRDC 15,337
liability accounts thus, NTA 126,540
affected the PCSO NQ
reliability/accuracy of the PFDA 90,537
payable balances and the PNOC-RC 15,166
related affected accounts . PNR 947
PPC 37,553
PSALM 10,945
TPB 57,532
274
Amount
Common Audit
Observations
thousands)
Taxes Payable
Non-withholding from Comply with the BIR AAIIBP 263
government money regulations on the withholding AKP-SHFC 4,735
payments/ non- of government money payments; DBP NQ
remittance/non-payment of trace unremitted taxes and DBPLC NQ
various taxes withheld; or reconcile the balance of the DCI NQ
delayed/deficient account; remit/pay on time the HGC 941,407
payment/non-payment of taxes withheld/tax due to the IBC 13 163,942
taxes due to the Bureau of BIR to prevent incurrence of MWSS 1,240
Internal Revenue (BIR) interest, penalties and NIACI 1,803
exposed the agency to surcharges. NPC NQ
interest, penalties and NPF 144,557
surcharges per applicable NRDC 2,644
BIR regulations. PHIC 4,222
Revenue/ Expense Accounts

Non-recording of Prepare the necessary adjusting CCP 3,629
transactions or erroneous entry to reflect the accurate LRTA 1,866
recording/ classification of amount of income and affected LWUA 1,371,989
transactions resulting in the accounts. MWSS 45,177
misstatement of the income NPC 2,916,360
and other affected accounts PCA 6,916
contrary to PAS 18/PPSAS 9. PPC 30,570
Non-compliance with the a. Strictly comply with the APO 73,691
pertinent provision/s of R.A. provisions of COA Circular BCDA 100,000
No. 9184 as amended and the 2009-001, R.A. No. 9184 and BSoP 113,040
2016 Revised IRR and/or the 2016 RIRR, and the CCP NQ
Memorandum Order No. 15 GPPB Circular in the DFPC 37,850
dated May 9, 2011/ procurement of goods, FTI 25,459
requirements of the services and infrastructure GSIS 3,167,304
Government Procurement projects; NHA NQ
Policy Board (GPPB) LCP 6,439
Circular and/or non- b. Persons responsible should be LWUA 4,694
compliance with COA made to answer for any NFA 5,041
Circular Nos. 2009-001 and damage/s that were caused NPC NQ
96-010 on the submission of due to the delayed and/or PAGCOR 95,021
documents pertinent to non-delivery of the procured PCED 31,108
government contracts in the goods; and PDGCC 2,124
procurement of goods and PIDS 57,355
services and infrastructure c. Secure the requisite prior PITAHC 66,283
projects. approval of the GPPB under PFDA 404,741
Section 6.2 of the RIRR of PNOC 2,020
R.A. No. 9184. PNR 7,208,958
PPA 78,496
PPC 9,236
PPPI 4,837
PSALM 6,930
PTNI 11,649
SHFC 42,393
SRA 348,535
TIEZA NQ
TPB 22,961
TransCo NQ
275
Amount
Common Audit
Observations
thousands)
Procurement of common-use a. Meticulously and judiciously DBP2 NQ
office supplies, consultancy plan procurement of end-user DBPLC1 &2
NQ
services were: (1) not in requirements to be included DCI2 11,156
accordance with the in the APP and ensure that all
prescribed methods of procurements are in
procurement; and (2) not accordance with the APP; and
within the approved Annual
Procurement Plan (APP), b. Purchase common-use items
contrary to Section 7, 8.1.2 on a quarterly basis by
and 52.1 of the 2016 RIRR of utilizing the PhilGEPS, and
R.A. No. 9184. purchase from other suppliers
only after the Procurement
Services (PS)-DBM has
issued Certificate of Non-
Availability of Stocks for
ordered items and within the
period indicated in the
Delivery Receipt. For
procurement of items not
available at the PS and
allowed by the PS-DBM to
be procured outside, ensure
that the requirements for
“shopping” is adhered to.
PPE/acquired assets were not Comply with COA Circular No. APECO 472,389
covered/not updated/with 92-390/Section 1 of AO No. 141 DBPLC NQ
expired property insurance and Section 5 of RA No. 656 by DCI NQ
with GSIS General Insurance submitting the list of all HDMF 7,589,521
Fund and the Property insurable assets and properties of PMDC 32,799
Replacement Fund contrary GC and obtaining property TIEZA 23,671
to COA Circular 92- insurance with GSIS to ensure
390/Section 1 of that these are covered with
Administrative Order (AO) adequate insurance with the
No. 141 and Section 5 of General Insurance Fund, to
R.A. No. 656, as amended by protect the interest of the GC
P.D. 245, thus, exposing the concerned.
agency to risk of not being
indemnified or compensated
in case of damage or loss of
property due to fire, or other
fortuitous event/ casualty.
Payment of compensation/ a. Adhere to pertinent APO 3,134
Additional Compensation compensation laws, rules and IBC 13 169,081
and Personnel Economic regulations in the grant of GSIS 260,530
Relief Allowance/Retirement compensation, allowances, HDMF 248,319
benefits/ gratuity bonuses and other benefits; HGC 5,600
benefits/separation pay NHMFC 11,300
and/or meal allowances/ b. Submit documents indicating LBRDC 153
financial approval by the Office of the LIBI 247
assistance/Collective President as required under PHIC 68,952
Negotiation Agreement P.D. No. 1597 and MO No. PNR NQ
(CNA) Incentive/other 20, s. 2001/by the GC); and PTNI 1,413
allowances and/or other SB Corporation NQ
benefits and incentives to the c. Refrain/discontinue the SHFC 5,658
Agency’s payment of compensation/ TIDCORP 818
BOT/BOD/officers/employee allowances/benefits/ TransCo 461
s/ incentives in the absence of
276
Amount
Common Audit
Observations
thousands)
Management Committees legal bases/authority to grant
were without bases/contrary the same.
to the provisions of the COA
Joint Circular No.1 s. 2017;
CSC Memorandum Circular
No. 6 s. 2005/Joint
Resolution No. 4 series of
2009 of the Congress of the
Philippines/P.D. No.
1597/MO No. 20 s. 2001/EO
No. 36/DBM Circular No.
2016-7/COA Circular No.
2012-03/EO No. 24, EO No.
181 s. 2015, and other
existing laws, rules and
regulations.
Payments for Representation Comply with existing rules and IBC 13 2,070
and Transportation regulations on the granting of PHIC 7,898
Allowances (RATA) RATA.
contrary to General
Appropriations Act of 2017
and DBM National Budget
Circular No. 548.
Non-submission/incomplete a. Coordinate/send demand MWSS 4,925
documentation/non-recording letters to the concerned IAs NEA 1,083,695
of liquidation reports by for submission of the PCA 33,294
Implementing Agencies liquidation reports and
(IAs) of funds received from supporting documents of the
SAs, contrary to the unliquidated fund transfers;
provisions of the MOA by
and between the SAs and the b. Ensure compliance with the
IAs and the requirements reporting obligations of the
under COA Circular No. 94- IAs as stipulated in the MOA
013. and required under COA
Circular No. 94-013; and.
c. Refrain from releasing

additional funds to IAs with
unliquidated balances.
Inadequacy of the required Submit the required information/ CAAP 157,626
information/records/reports computations/contracts and/or LRTA NQ
and other supporting other supporting documents in LWUA NQ
documents/ non-submission support of the MWSS 1,704
thereof resulted in the transaction/contract/MOA NEA 26,500
doubtful validity of various pursuant to pertinent provisions PAGCOR 1,200,000
transactions contrary to COA of COA Circular Nos. 96-010 PITACH 4,312
Circular Nos. 96-010 and and 2012-001, P.D. 1445 and/or PMDC 2,032
2012-001 and/or Revenue RMC No. 2-2014. PPC 84,115
Memorandum Circular PTNI 89,680
(RMC) No. 2-2014, and
Section 4(6) of P.D. 1445.
Delayed or non-submission/ a. Evaluate the cause of delayed BFI NQ
non-preparation of Financial preparation/submission or DFPC NQ
Statements/documents/report non-submission of GSIS 644,645
s including Journal Entry documents/reports including HGC NQ
Vouchers (JEVs) and JEVs and DVs/POs and LWUA NQ
277
Amount
Common Audit
Observations
thousands)
Disbursement Vouchers perfected contracts and MWSS NQ
(DVs)/ Purchase Orders adhere to the provisions of NPF NQ
(POs) and perfected contracts COA Circular No. 2009-001, PPA NQ
within the prescribed period 2009-006 on the submission SHFC 76,963
contrary to Sections 41 and of documents to COA
122 of PD 1445; Note 8, Auditors; and
Sections 57, 71 and 81 of the
Manual on the New b. Prepare and submit the final
Government Accounting and complete set of financial
System (MNGAS) Volume I statements together with all
and COA Circular Nos. relevant supporting schedules/
2009-001/2009-006 and documents in accordance
COA Accounting Circular with pertinent provisions of
No. 2015-004/2017-004. P.D. No. 1445/MNGAS and
COA Accounting Circular
No. 2015-004/2017-004.
Compliance with Securities and Exchange Commission (SEC) and Bureau of Internal Revenue
Non-compliance with a. Submit to SEC documents on NABCOR NQ
Sections 121 and 122 of the the dissolution of the agency NIACI NQ
Corporation Code of the and other applicable PADCC NQ
Philippines on the documents required by SEC PFC NQ
cancellation of registration for the revocation of SEC QUEDANCOR NQ
with Securities and Exchange registration; and/or ZREC NQ
Commission (SEC) and with
Item 4, Section 12 of BIR b. Comply with the
Revenue Regulation No. 07- requirements of the BIR for
2012 on the cancellation of cancellation of COR and
Certificate of Registration TIN.
(COR)/Tax Identification
Number (TIN), which shall
take place upon dissolution
of juridical persons, thus,
exposing the remaining funds
of the agency to garnishment
due to penalties and interest.
Others
The GC: (1) did not adopt the Comply with: (a) COA Circular IBC 131 & 2 NQ
PFRS as its Financial No. 2015-003 dated April 16, VFP2 NQ
Reporting Framework in the 2015, on the adoption of its SBC2 NQ
preparation of the Financial prescribed Financial Reporting
Statements for CY 2018, Framework in the preparation of
contrary to COA Circular the Financial Statements for CY
No. 2015-003 dated April 16, 2019; and (b) COA Circular
2015; and/or (2) did not Nos. 2015-010 and 2016-006
comply with the applicable dated December 1, 2015 and
guidelines in the conversion December 29, 2016,
of accounts from the respectively, on the conversion
Philippine Government Chart of accounts from the PGCA to
of Accounts (PGCA) under the RCA for GCs for
the New Government comparability of financial
Accounting System (NGAS) information with other public
to the Revised Chart of sector entities.
Accounts (RCA) for
278
Amount
Common Audit
Observations
thousands)
(GCs) specifically in the use
of account titles and codes
prescribed under COA
Circular Nos. 2015-010 and
2016-006 dated December 1,
2015 and December 29,
2016, respectively, thus, the
CY 2018 financial statements
were not aligned with the
prevailing international
standards and the purpose of
comparability of financial
information with other public
sector entities was defeated.
Abolished agencies did not Comply with PIC Q&A No. HSDC NQ
conduct the appraisal and 2009-01 on the interpretation of PHILSUCOR NQ
revaluation of its assets and PAS 1.25 and paragraph 4.1 of
liabilities to present its the Conceptual Framework for
financial statements on a Financial Reporting and prepare
liquidation basis as the Financial Statements (FS) in
prescribed under Philippine the basis other than going
Interpretations Committee concern basis – liquidation basis,
(PIC) Q&A No. 2009-01 on specifically by:
the interpretation of PAS
1.25 and paragraph 4.1 of the a. Conducting the evaluation
Conceptual Framework for of the collectability of the
Financial Reporting receivable and the
(Framework) that require the appraisal of the physical
presentation/reporting of assets to present the
accounts on accounting basis accounts in the FS at
other than going concern. realizable value; and
b. Adopting appropriate
accounting policies,
consistent with the relevant
Philippine Financial
Reporting Standards in the
measurement and
classification of assets,
liabilities and equity on
liquidation basis, and
adjusting the account
balances, as necessary.
Non-recording of audit Direct the Technical Working NABCOR 406,255
disallowances which became Group for Financial Assessment PADCC 2,307
final and executory, contrary to record the disallowance to ZREC 9,688
to Section 22 of COA ensure that the receivables will
Circular No. 2009-006 dated be collected from persons liable.
September 15, 2009,
understated the receivable
accounts of the agency which
also resulted in the difficulty
of monitoring the collections
thereof.
Note: Numbers/letters in superscripts refer to the finding on the leftmost side.
279
Summary of Significant Audit Observations and Recommendations
(Water Districts in the Regions)
Amount
(in thousands)
Binalbagan WD
Production Assessment Charge Impose and collect PAC as mandated NQ
(PAC) was not collected from in P.D. No. 198 and coordinate with
industrial and commercial the Municipal Government of
establishments within the locality Binalbagan to facilitate collection of
that utilized deep wells for their PAC from all establishments within
water resources. Hence, the the locality with deep wells as their
Binalbagan WD is deprived of the source of water.
much needed funds for the
management, protection and
development of water shed areas of
Binalbagan as required by P.D. No.
198.
Cagayan de Oro WD
The Disaster Risk and Reduction Submit for review existing 693
Management Fund was utilized guidelines, laws, rules or regulations
for financial assistance and grant directing the release of financial
of tokens amounting P618,115 assistance, the distribution of tokens
to its regular, casual and job to Cagayan de Oro WD employees,
order employees affected by and the charging of meals to the
Typhoon Vinta, and meal Fund.
expenses amounting to P75,250
without appropriate bases
contrary to the Implementing
Rules and Regulations of
Republic Act No. 10121 and
Section 4 (7) of P.D. 1445.
Calamba WD
Procurement of Ultra Violet (UV) Submit justifications and bases for 42,923
Hydro Optic Disinfection System the purchase of UV Hydro Optic
was unnecessary since the Calamba Disinfection System together with
WD was already capable of other related supporting documents,
producing safe water for its for audit purposes, otherwise, direct
concessionaires even before the the End-User and other persons liable
installation of the same. including the BODs who approved
the procurement of the same to
refund the said amount.
Supply of Services, Materials and a. Establish Information System 9,605
Equipment for the Development of Strategic Plan as
Computerization Program were endorsed/approved by NCC and
procured without the National ensure that the procurement and
Computer Center (NCC) approved implementation are consistent
Information System Strategic Plan thereof, and furnish the Audit
(ISSP) and other security Team a copy of the ISSP for audit
provisions. purposes; and
280
Amount
(in thousands)
b. Include in the Terms of
Reference the creation of a
Disaster Recovery and Business
Continuity Plan as well as a
policy on system’s Back Up
Facility and policy guidelines on
tape media storage.
Daraga WD
The agreed revenue share of the Make representations with the Prime 5,207
Daraga WD stipulated under the Water Executives regarding the
Joint Venture Agreement proved to possible increase in the Revenue
be inadequate to defray the cost of Share of the WD.
operations and business affairs of
the WD, thus, resulting in the
incurrence of loss in its first year of
full operation under such set up
and the high probability of
continuous losses in the succeeding
years.
Iriga City WD
Had the Iriga City WD negotiated Negotiate with PrimeWater for the 4,751
for the CY 2017 financial data as additional JV share corresponding to
the basis in the computation of its the increase in WD’s equity of P4.75
equity contribution to the Joint million.
Venture which pertains to the Iriga
City WD’s assets value after
depreciation and absorption by
PrimeWater of the Iriga City WD’s
loans, the Iriga WD’s equity
contribution would have increased
by P4.75 million.
Laguna WD
The Joint Venture Company (JVC) a. Require the JVC to submit NQ
failed to notify its customers in the justification as to the non-
event of planned service compliance in the giving of
interruptions or reduction in water notices for planned service
pressure, at least 48 hours in interruptions, and for the latter to
advance, thus failing to comply submit reports on the actions
with its service obligations on taken, if any, to cure the
customer notices under Section 2.4 deficiencies noted;
of the Operational Performance
Criteria of the JV Agreement b. Require the JVC to submit
(JVA). reports on the actions taken on
the unplanned interruptions, with
duration of the actions taken, if
any, to resume the service within
24 hours;
281
Amount
(in thousands)
c. Verify all the reports that will be
submitted by the JVC on their
actions taken in compliance with
their service obligation;
d. Strictly impose the 90-day

requirement of curing any
deficiency noted on the
compliance in the service
obligations as agreed upon in the
JVA; and
e. In case of failure on the part of

the JVC to cure the deficiency or
provide justification to the
satisfaction of the Contract
Monitoring Unit (CMU), consider
proceeding with the remedies
under Schedule 5.03-Penalties as
provided for in the JVA.
Lubang WD
The number of seated members of Make representation with the NQ
the Board of Directors (BOD) of Municipal Mayor of Lubang to assist
the Lubang WD for calendar year them in the selection and
2018 was only one contrary to appointment of new member of the
Section 8, Chapter III, Title II of BOD in compliance with Section 8
P.D. No. 198 or the Provincial and 10 of P.D. No. 198, as amended,
Water Utilities Act of 1973, as regarding the required number of
amended, as a result, the Lubang BODs and filling-up of vacant
WD’s operations were not properly positions.
governed by a competent policy-
making body.
Metro Ozamis WD
1. The JVA between the MOWD Reassume discharging all its NQ
and PRIMEWATER is functions and retract from any
prohibited under Sections 17, involvement in the implementation of
18, 22 and 30 of P.D. 198, the JVA premised on its patent
otherwise known as the nullity in the purview of P.D. 198
Provincial Water Utilities Act and R.A. 3019.
of 1973.
2. The JVA also falls under

Section 3.(e) and (g) of
Republic Act No. 3019,
considering that for the 5-year
period prior to the effectivity of
the JVA, the MOWD was
earning net income ranging
from P11,024,069.42 to
P24,810,883.20 in which
282
Amount
(in thousands)
income dropped down to
P1,897,427.92 in the first year
of the JVA to a loss of
P30,498.94 in the second year.
3. Non-compliance with the

period to apply for eligibility
and submission of proposal
after the publication of
Invitation to Apply for
Eligibility and to Submit a
Proposal (IAESP), contrary to
Paragraph III, number 3 of
Annex A of the NEDA Revised
Guidelines and Procedures for
Entering into Joint Venture
(JV) Agreements between
Government and Private
Entities.
4. The cost of the eligibility

documents and tender
documents were P500,000.00
and P1,000,000.00,
respectively, which can be
considered as excessive and
way beyond the cost of
producing the documents
comprising the eligibility and
tender documents.
5. MOWD’s primary contribution

to the joint venture is the
exclusive right to use the
MOWD facilities excluding the
concession rights to provide
water supply and septage
management services and/or
operate the water supply system
and septage management
facilities in the area, to which
the assets were valued at
P40,885,000.00 as of December
31, 2015 (after depreciation and
unpaid portion of the loan
acquired to finance the asset).
The determination of the value
of the assets was not subjected
to a third party independent
valuation as required under
paragraph 6 of the Revised
Guidelines.
283
Amount
(in thousands)
6. The 25-year term of the
contract is not supported by
MOWD’s own feasibility
studies which relied only on the
proposal submitted by the
PRIMEWATER.
Pres. M.A. Roxas WD

The Board of Directors resolved to Forgo with the construction of a NQ
construct an office building using shop/office building using funds
the savings from the construction from the government grant, rather
of water supply project funded by a prioritize the use of funds for the
government grant, instead of using construction of water system
it for additional water supply facilities in accordance with the
project/s, contrary to Section 4 (3) purpose for which the funds were
of P.D. 1445 thus considered granted to effectively serve the
irregular. public, consistent to its mandate as a
WD.
Talisayan WD
The District utilized the loan a. Follow up the requested loan 2,210
proceeds from Local Water Utilities documents from LWUA, review
Authority (LWUA) amounting to the terms and conditions of the
P2,210,400 without first securing loan agreement and other
the loan contract and other pertinent documents appurtenant thereto,
documents exposing the Talisayan and ensure compliance thereto to
WD to possible compliance and safeguard the Talisayan WD from
payment issues resulting to possible sanctions and penalties; and
suspension/cancellation of the
projects financed by the loan. b. Disburse the loan funds only in
accordance with the approved
plans, LWUA technical standards
and specifications, and standard
construction manual to avoid
possible suspension/cancellation
of the project.
284
Table IV-2B Summary of Common and Significant Observations and
Recommendations
(Water Districts in the Regions)
Common Audit Amount
Recommendations WDs affected
Observations (in thousands)
A. OPERATIONS
Average level of non- a. Monitor the NRW levels to Angadanan WD NQ
revenue water (NRW) ensure compliance with the Angeles WD 15,432
exceeded the maximum 30 percent maximum Aparri WD NQ
NRW acceptable level of acceptable level required by Aurora WD NQ
30 percent per Local Water LWUA; Binalonan WD NQ
Utilities Administration Bugallon WD 153
(LWUA) Memorandum b. Manage water losses to Dagupan City WD 3,233
Circular No. 011-18 dated significantly minimize the Guagua WD NQ
June 1, 2018 resulting in high level of NRW to the Leyte Metropolitan WD 61,478
annual revenue losses/ allowable level of 30% or Lingayen WD NQ
unaccounted water losses. below, pursuant to LWUA Malolos City WD 13,167
Resolution No. 444, series of Marilao WD 50,505
2009/Memorandum Circular Metro Tayug WD NQ
No. 011-18; Naguilian WD 303
Orani WD 39,236
c. Formulate Corporate Plans Peñablanca WD NQ
incorporating therein the Ramon WD NQ
NRW Reduction Plans/ Roxas WD NQ
reforms with the ultimate San Jose Del Monte City WD NQ
aim of evaluating the San Nicolas (Pangasinan) WD NQ
efficiency and effectiveness San Quintin WD NQ
of the existing strategies/ Santiago WD NQ
measures in reducing water Subic WD NQ
losses. Ensure presence of Tagaytay City WD 22,524
adequate safeguards against Tanay WD 23,862
meter tampering and Urdaneta City WD NQ
pilferages of both water and Zamboanga City WD 435,449
facilities and imposition of
legal sanctions on violations
thereof; and
d. Rehabilitate old pipelines

and artesian wells/replace
defective water meters/install
or utilize flow meters to
measure total water
production.
The (1) partial imple- a. Require the Project/Program Bocaue WD3 30,860
mentation; (2) non-imple- Officer to monitor closely Bulan WD3 NQ
mentation; (3) partial the status of implementation Davao City WD3 648,504
completion of programs/ of approved programs/ Metropolitan Tuguegarao WD3 109,580
plans within timelines projects to avoid any
resulted in: (a) deprivation/ slippages and to take
delayed delivery of immediate and appropriate
services/projects to corrective measures
intended necessary to complete the
beneficiaries/purpose and same within timeline;
affected the operations of
the Water District; (b) b. Provide sanctions for non-
285
Common Audit Amount
delayed implementation of completion or failure to
the water supply project deliver required output/s on
funded by the National time;
Government through the
General Appropriations Act c. Conduct thorough planning
which could have been and feasibility studies to
avoided had the ensure timely project
procurement process been implementation and usage of
conducted in a timely and funds and the achievement of
complete manner, and the project objectives; and
materials actually delivered
conformed to the specifica- d. Require the supplier to
tions per contract, contrary deliver immediately the
to the Revised IRR of R.A. materials with correct
No. 9184. specifications and impose
liquidated damages on the
delays incurred from
scheduled delivery sate up to
actual delivery.
Deficiencies were noted in a. Make a dialogue with the Legazpi City WD 9,335
the implementation of the representatives of the other San Pablo City WD NQ
Bulk Water Supply party in order to address the
Agreement entered into by short fall in the supply of
the WDs, as follows: bulk water;
a. Various lapses on the b. Submit justifications and

part of the other party in documents for the noted
the implementation of deviations from the Bulk
the contract cast doubt Water Supply Agreement;
on its capability to
undertake the project and c. Submit contract, concept
held them liable for design, scope of work and
payment of penalties and other documents for audit
liquidated damages; purposes;
b. Non imposition of d. Ensure that the Performance

penalty for its failure to Security is being posted
supply the required annually;
minimum volume cubic
meters per day despite e. Recompute the amount of
the non-submission of penalties that should have
validation reports from been imposed for its short
National Water deliveries from the beginning
Resources Board of the stipulated period up to
(NWRB) and present and the penalties and
Department of liquidated damages for the
Agriculture (DA) delay in completion of the
proving the grounds project. Likewise, impose the
being invoked for the collection of all the
latter’s reasons for non- computed penalties and
compliance; and liquidated damages or deduct
the same from the billings of
c. Billings for various SCIC; and
months exceeded its
discharge capacity as f. Evaluate the lapses on the
stipulated in the bidding implementation of contract
286
Common Audit Amount
documents. and assess if it is still
advantageous to the Agency.
Otherwise, resort to the
termination of the contract.
Failure to provide 100 Continue the exploration and Dapitan City WD NQ

percent water coverage to implement expansion of water Dipolog City WD NQ
all barangays in the WD’s source projects to achieve 100 Labason WD NQ
franchise area, when it percent water coverage in the Pres. M.A. Roxas WD NQ
targeted through the WDs franchise area or zero Siocon WD NQ
Philippine Development waterless area.
Plan to reduce waterless
areas to zero; thus, the
economic growth and
public health at these
barangays were not
promoted.
Absence/non-utilization of/ a. Install/utilize/repair flow Balatan WD NQ
inoperative flow meters to meters to measure the Bani WD NQ
measure water production volume of water production Cabusao WD NQ
rendered the reliability of at a given time in order to Culion Palawan WD NQ
the reported efficiency and determine whether the level Dasol WD NQ
water loss levels/doubtful, of Non-revenue Water Gattaran WD NQ
contrary to LWUA (NRW) are within the Hamtic WD NQ
Resolution No. 444, Series LWUA approved maximum Kasibu WD NQ
of 2009/ Section 32(d) of NRW of 30%; and Lasam WD NQ
Presidential Decree No. Luna WD NQ
768 and LWUA b. Instruct all personnel Maasim WD NQ
Memorandum Circular No. assigned in each pumping Sta. Praxedes WD NQ
014-10 dated December 2, stations to keep records and Talisayan WD NQ
2010. monitor the actual number of Urbiztondo WD NQ
water produced every month,
as well as, the water used
during flashings and other
usage.
Failure to conduct a Allocate funds to establish Metropolitan Tuguegarao WD NQ
regular/ periodic water meter testing facility and Banate WD NQ
performance audit on water conduct periodic performance Belison WD NQ
meters being used by the audit of the water meters being Bunawan WD NQ
concessionaires and non- used by the concessionaires Calinog WD NQ
allocation of funds for the after every five (5) years of Estancia WD NQ
establishment of water utilization, depending on the Janiuay WD NQ
meter testing facility condition of the operation Labason WD NQ
contrary to LWUA pursuant to LWUA Matnog WD NQ
Memorandum Circular No. Memorandum Circular No. Miag-ao WD NQ
014-10 dated December 2, 014-10. New Lucena WD NQ
2010, thus, accuracy of Placer WD NQ
water meter readings Pres. M.A. Roxas WD NQ
cannot be ensured. Taytay Palawan WD NQ
Tubungan WD NQ
The WD did not strictly Strictly implement its newly Aurora WD NQ
implement its newly approved water rates from Isabel WD 306
approved water rates from LWUA to provide a more
LWUA, resulting to non- profitable return on its services
profitable returns on its and to achieve the acceptable
287
Common Audit Amount
services and non- performance levels on the Key
attainment of its Key Performance Indicators of the
Performance Indicators for District.
2018, contrary to Section
37 of P.D. No. 198, as
amended, the LWUA
Water Rates Manual and
the Schedule of Approved
Water Rates per LWUA
Board Resolution No. 43,
Series of 2018.
Propriety and legality of a. Submit to LWUA the water Carcar WDe 497
water rates and other rates and other various Talisayan WDd NQ
charges required to be paid charges for their review and Toledo City WDd 12,391
by the concessionaires of approval to establish
the Water Districts were compliance with the
doubtful due to any or provisions prescribed under
combination of the Section 63 of PD 198;
following:
b. Conduct door to door re-
a. Non-submission of water assessment of the WD’s
rates for review and concessionaires, giving
approval by LWUA priority to the above listed
contrary to Section 63 of concessionaires and
Presidential Decree properly identify whether
(P.D.) 198, as amended; each service connection is
or Residential/Government,
Commercial/Industrial or any
b. Improper imposition of of its sub-classifications and
water rates to Bulk/Wholesale; and
corresponding
concession-naires c. Ensure that correct rates are
classification contrary to appropriately imposed
Commercial class corresponding to the
identification prescribed concessionaire’s type of
in the LWUA Manual on service connection.
Water Rates and Related
Practices dated February
2000.
Non or lenient implement- a. Monitor the collection Abulug WD NQ
tation of disconnection process and strictly Angadanan WD NQ
policy/absence/poor billing implement the policies and Aroroy WD 1,765
and collection procedures resolutions on penalty Aurora WD NQ
resulted in uncollected charges and issuance of Balanga WD 106
reconnection fees, notice of disconnection; Baliwag WD 10,438
accumulation of Bocaue 5,048
receivables/ past due b. Establish intensive and Bombon WD 197
receivables, and non- effective collection strategies Bulacan WD 2,091
realization of additional and programs that will Bustos WD 1,703
funds to sustain the WDs encourage disconnected Cabagan WD NQ
operations. concessionaires to reopen the Cagayan de Oro WD 35,107
accounts and subsequently Calumpit 5,678
pay their outstanding bills; Carmona WD 2,881
City of Ilagan WD NQ
c. Enforce legal action on Damariñas WD 2,623
outstanding accounts with Dinalupihan WD 3,137
288
Common Audit Amount
material amount of balances; Gen. Mariano Alvarez WD 10,636
and Guagua WD 2,687
Linamon WD 8,729
d. Request to COA the write off Lubao WD 2,103
of dormant accounts Marilao WD 17,947
pursuant to COA Circular Mariveles WD 1,610
No. 2016-005 dated Metro Lipa WD 58,666
December 19, 2016. Naguilian WD NQ
Naguilian WD 5,563
Nasipit WD 1,313
Orani WD 9,749
Peñablanca WD NQ
Placer WD 816
Plaridel WD 1,255
Roxas WD NQ
San Manuel WD 918
Sanchez Mira WD 742
Santa Maria WD 2,277
Silang WD 2,030
Surigao Metropolitan WD 7,076
Tumauini WD 560
Urbiztondo WD NQ
Failure to reach the a. Monitor the collection Dapitan City WD NQ
acceptable minimum process and strictly Pres. M.A. Roxas WD NQ
standard collection implement the policies and
efficiency rate of 90% set resolutions on penalty
by the LWUA; and/or charges; and
decrease in collection
efficiency from prior year. b. Establish intensive and
effective collection strategies
and programs to increase the
collection efficiency of the
WDs to reach the 90% bench
mark set by the LWUA in its
Memorandum Circular No.
011-18.
Insufficient/non-allocation Allocate funds for debt service Abulug WD NQ
of the required sinking and operating and maintenance Abuyog WD NQ
fund/ reserve funds for debt to be used purposely during Balingasag WD 2,096
service and operating and periods of calamities, force Baras WD 280
maintenance to be used majeure or unforeseen events Baybay City WD NQ
during periods of and allocate reserves for the Borongan WD NQ
calamities, force majeure expansion and improvement of Casiguran WD NQ
or unforeseen events and its physical facilities, in Dipolog City WD NQ
for expansion and compliance with Section 41 of Gen. Mariano Alvarez WD 3,007
improvement of its P.D. No. 198. Gubat WD NQ
physical facilities contrary Guiuan WD NQ
to Section 41 of P.D. No. Labason WD NQ
198; Section 8 of P.D. No. Luna WD NQ
1479, further amending PD Mambajao WD NQ
No. 198; LWUA Matnog WD NQ
Memorandum Circular Merida WD NQ
(MC) No. 003-00; and Naguilian WD NQ
contract of loan with Pagadian City WD NQ
LWUA. Pres. M.A. Roxas WD NQ
Sta. Praxedes WD NQ
289
Common Audit Amount
Tagoloan WD 170
Viga WD NQ
Incomplete/non- a. Strictly observe the Alcala WD NQ

formulation/ non- provisions of DOH AO No. Alicia WD NQ
implementation/partial 2014-0027 and LWUA MC Angadanan WD NQ
compliance on the No. 004-15, 010-14 and 003- Aurora WD NQ
development/non- 18 and to develop/ Bacacay WD NQ
submission to LWUA and implement WSP; Balatan WD NQ
Department of Health Balungao WD NQ
(DOH) for review, b. Regularly monitor the Banate WD NQ
approval and monitoring of quality of its produced water Banaue WD NQ
its implementation of by conducting monthly Bangui WD NQ
Water Safety Plans (WSP) bacteriologist test of its Baras WD NQ
required under produced water and Barcelona WD NQ
Administrative Order (AO) subjecting its water sources Batac WD NQ
No. 2014-0027 issued by to annual physical and Baybay City WD NQ
the DOH; LWUA chemical analysis; and Belison WD NQ
Memorandum Circular Bombon WD 280
Nos. 004-15, 010-14, and c. Ensure that the water Bucay WD NQ
003-18 for the observance produced by the Water Buenavista WD NQ
and measures on the District undergo an Bugallon WD NQ
prevention, mitigation and independent physical and Cabusao WD NQ
preparedness in dealing chemical analysis in Calinog WD NQ
with risks that threaten the accordance with Philippine Calumpit WD NQ
safe quality of drinking- National Standards for Camalig WD NQ
water and public health. Drinking Water (PNSDW) of Culion Palawan WD NQ
2018. Dagupan City WD NQ
Dasmariňas WD NQ
Dasol WD NQ
Diadi WD NQ
Dingras WD NQ
Dolores WD NQ
Estancia WD NQ
Gattaran WD NQ
Glan WD NQ
Guagua WD NQ
Hamtic WD NQ
Ifugao WD NQ
Ipil-Titay WD NQ
Janiuay WD NQ
Jaro WD NQ
Jordan WD NQ
Kauswagan WD NQ
Kolambugan WD NQ
Labason WD NQ
Lagangilang WD NQ
Laguna WD NQ
Lambunao WD NQ
Lasam WD NQ
Ligao City WD NQ
Lubao WD NQ
Luna WD NQ
Maasim WD NQ
Maasin WD NQ
Mabalacat WD NQ
Malungon WD NQ
290
Common Audit Amount
Mambajao WD NQ
Marilao WD NQ
Merida WD NQ
Metro Hilongos WD NQ
Metro Tayug WD NQ
Miag-ao WD NQ
Naujan WD NQ
New Lucena WD NQ
Nueva Valencia WD NQ
Odiongan WD NQ
Orani WD NQ
Pagadian City WD NQ
Pandan WD NQ
Paracale WD NQ
Pinamalayan WD NQ
Pola WD NQ
Pres. M.A. Roxas WD NQ
Ragay WD NQ
Ramon WD NQ
Reina Mercedes WD NQ
Romblon WD NQ
Rosales WD NQ
Rosario WD NQ
Roxas Palawan WD NQ
Roxas WD NQ
San Andres WD NQ
San Carlos City NQ
San Jose (DI) WD NQ
San Juan WD NQ
San Manuel WD NQ
San Nicolas (Pangasinan) WD NQ
San Pedro WD NQ
San Quintin WD NQ
Sarrat WD NQ
Siocon WD NQ
Sipocot WD NQ
Sta. Ana WD NQ
Sta. Cruz WD NQ
Sta. Praxedes WD NQ
Sto. Niño WD NQ
Subic WD NQ
Talisayan WD NQ
Tanay WD NQ
Tubungan WD NQ
Tulunan WD NQ
Tumauini WD NQ
Umingan WD NQ
Urbiztondo WD NQ
Urdaneta City WD NQ
Viga WD NQ
Villasis WD NQ
Non-compliance with the Determine the reasons/causes Isabela City WD NQ
minimum frequency of for the non-compliance and Pagadian City WD NQ
sampling of drinking-water develop solutions to address Pres. M.A. Roxas WD NQ
supply for microbiological and conform to the allowable/
examination and physical maximum standard values;
291
Common Audit Amount
and chemical analysis; thus, increasing the level of
and/or failure of water acceptability and the potability
samples to meet the of the drinking water.
Philippine National
Standards for Drinking
Water (PNSDW) of 2017
as provided in DOH AO
No. 2017-10.
Non-implementation of Prioritize the establishment, Laguna WD NQ
Septage Management Plan operation and maintenance of Sta. Cruz WD NQ
(SMP) contrary to R.A. wastewater or sewerage
No. 9275, Supreme Court facilities the soonest time
mandamus of 2008, and possible, as required and
P.D No. 198; as a result, mandated under Section 28 of
waste water may continue P.D. No. 198 and Supreme
to leak and flow to the river Court mandamus of 2008.
systems and contaminate
the water.
Inadequate safety measures a. Provide the cashier with a Bangui WD NQ
on safekeeping and safety vault and a properly Bangui WD NQ
safeguarding of the WDs secured cubicle to ensure that Kapatagan WD NQ
cash and cash the funds are properly Kolambugan WD NQ
accountabilities denote poor secured; Santa Rosa WD NQ
internal control, which may Siocon WD NQ
pose risk in its operations. b. Filing cabinets should
readily keep all records and
documents against fire or
theft; and
c. Install CCTV within the

parameters of the office for
security/documentation or
records purposes.
Incompatible functions/ a. Install adequate internal Dalaguete WD NQ
non-segregation of control system and strictly Lasam WD NQ
duties/pre-signing of enforce proper segregation of Lubang WD NQ
checks by a designated duties to safeguard Metro Hilongos WD NQ
signatory to the joint government funds and other Meycauayan WD NQ
account of WD to facilitate resources and prevent or Orani WD NQ
payments in his absence, avoid exposure to misuse or Quezon Metropolitan WD NQ
exposed government funds misappropriation of said San Manuel WD NQ
to risks of loss/ funds/resources; San Pedro WD NQ
misuse/misappropriation, Sinait WD NQ
contrary to the provisions b. Stop the practice of signing Sta Lucia WD NQ
of Section 123 of P.D. in advance blank checks to Trece Martires WD NQ
1445, National Guidelines prevent the use of
on Internal Control System unauthorized disbursement;
(NGICS), COA Circular and
No. 2006-005 dated July
13, 2006, Item 4.1 of c. Augment the present
Treasury Circular No. 02- working force and prioritize
2009, COA Circular No. the hiring of personnel for
2003-004 dated July 30, the critical positions to attain
2003, DBM Circular 03- division of labor and ensure
2003 dated December 1, a strong/ functioning internal
292
Common Audit Amount
2003 and DBM Circular control system.
Letter No. 2008-8 dated
October 23, 2008.
The (1) Actual a. Verify the causes of the Aleosan WD3 NQ
expenditures exceeded the significant excesses of the Alicia WD3 NQ
Corporate Operating actual expenses over the Angadanan WD3 NQ
Budget (COB); (2) Project budget and ensure that Aparri WD4 NQ
Revenue fell short at the expenses are incurred and Baguio WD3 NQ
end of the CY 2018; (3) paid in accordance with Baliwag WD1 12,912
COB and other related approved appropriation; Banate WD3 NQ
financial reports were not Bocaue WD2 225
prepared/not submitted/ b. Prepare and submit the Cabagan WD3 NQ
submitted late; and (4) annual COBs and other Calumpit WD1 3,142
COB did not reflect requisite financial reports in Candelaria WD1 2,496
realistic estimates of accordance with the Cordon WD3 NQ
receipts to support level of procedures and guidelines Dasmariňas WD1 476,473
proposed expenditures in prescribed by the Item 3 of Donsol WD1 904
contravention of the DBM Circular No. 22 dated Estancia WD3 NQ
procedures and guidelines December 1, 2016/comply Gamu WD3 NQ
prescribed by the DBM with R.A. 10633; Gen. Mariano Alvarez WD1 14,160
Corporate Budget, and in Jaro WD3 NQ
violation of R.A. No. c. Augment the funds or realign Kasibu WD3 NQ
10633; Section 4 (1) of savings within the same Lasam WD3 NQ
P.D. No. 1445; Item 3 of expense classification Leyte Metropolitan WD3 NQ
DBM Circular No. 22; and through board resolutions Magsingal WD2 NQ
Sections 7.1 and 7.2 of the pursuant to Section 3.3 of Malolos WD1 5,82
Revised IRR of R.A. No. DBM Corporate Circular No. Merida WD3 NQ
9184. 20; and Naguilian WD3 NQ
New Lucena WD3 NQ
d. Establish the required Paracale WD3 NQ
budgetary controls and Ragay WD3 NQ
implement cost-saving Roxas Palawan WD3 NQ
measures so that actual Roxas WD3 NQ
expenses will not deviate San Manuel WD3 NQ
from the budget/approved San Pablo City WD1 40,183
limit. San Pedro WD1 & 3 186
Santa WD1 NQ
Silang WD1 16,555
Sta. Cruz WD1 1,302
Sta. Praxedes WD3 NQ
Tagkawayan WD1 2,121
Tubungan WD3 NQ
Tumauini WD3 NQ
Various Disbursement a. Immediately instruct all Aparri WD NQ
Vouchers charged against concerned to prepare and use Batangas City WD NQ
the COB were not BUR in the form prescribed San Pedro WD NQ
supported with the Budget under COA Circular No. Sibagat WD 3,331
Utilization Request (BUR) 2006-004 to be signed by the Tagbina WD 10,422
and no Registry of Budget Heads of the Requesting Unit Tagkawayan WD NQ
and Utilization (RBU) was and the Head of the Budget
maintained to monitor the Unit; and
utilization of the budget as
prescribed under COA b. Instruct the officers and
Circular No. 2006-004; personnel of the Accounting
thus, the necessity and Unit to process claims
legality of the charges against the corporate funds
293
Common Audit Amount
against COB were not only if supported with
warranted by the concerned accomplished BUR.
responsible officials and
the fundamental principle
of shared fiscal
responsibility in
government transactions
was not fully observed.
Absence of provision on a. Secure tax clearance/ruling Batangas City WD NQ
franchise taxes in the Joint from the BIR regarding the Cabanatuan City WD 7,201
Venture (JV) Agreement matter; and Floridablanca WD 647
resulted in non-monitoring Guagua WD NQ
of the WD whether it had b. If the view of the Audit Lubao WD 2,793
been correctly reported and Team was affirmed by the Marilao WD 4,203
paid by its JV partner BIR, amend/insert a Metro Ozamiz WD NQ
contrary to Section 119 of provision in the JV Meycauayan WD NQ
R.A. No. 8424 (The Tax Agreement regarding the Orani WD 832
Reform Act of 1997), as imposition and payment of San Fernando City WD 6,450
amended, and Item III franchise taxes. San Jose Del Monte WD NQ
Sections Q13 and A13 (vii) San Pedro WD 4,535
and (ix) of the BIR Subic WD 910
Unnumbered Revenue Tarlac WD 5,341
Memorandum Circular.
Low solvency ratio and Exert effort in improving the Banate WD NQ

very high debt to asset ratio collection of outstanding Estancia WD NQ
cast doubt on the District’s receivables and increase service Janiuay WD NQ
capacity to continue on a connections as this will have New Lucena WD NQ
going concern basis. material impact on cash inflows
and revenue.
The survey results a. Continue seeking ways to Culion Palawan WD NQ
conducted to respondent- fully satisfy the rest of the Naujan WD NQ
concessionaires showed concessionaires as regards Odiongan WD NQ
that some signified their the quality and supply of Pinamalayan WD NQ
complaints on bad/ water and overall services; Pola WD NQ
unpleasant taste, foul and Puerto Princesa City WD NQ
smell, presence of dirt Romblon WD NQ
particles, frequency of b. Include in the Annual Roxas Palawan WD NQ
water supply interruption Planning and Budgeting, Sablayan WD NQ
and low pressure of water programs that would San Jose WD NQ
provided by the WD which improve the water quality, Taytay Palawan WD NQ
are inconsistent with its supply and overall services
mission of providing provided by the WD to
adequate, safe, affordable efficiently and effectively
and sustainable water attain its mission and to
supply. improve public service and
consumers’ satisfaction.
294
Common Audit Amount
B. FINANCIAL AND COMPLIANCE
Cash
The accuracy of the Cash a. Prepare and/or update Abuyog WD3&8 1,638
and Cash Equivalents regularly the BRS at the Aroroy WD3 171
account was not close of each month in Batangas City WD2 21,742
established due to either or accordance with Section 74, Baybay City WD1 & 4 5,827
combination of the P.D. 1445; Bugallon WD3 NQ
following: Butuan City WD1, 4 & 6 16,342
b. Make representation with the Cagayan de Oro WD1&2 14,325
(1) unadjusted reconciling banks and obtain debit and Calamba WD6 844
items between the credit advices and other Calinog WD3 NQ
books and bank relevant documents to Camalig WD1 105
balances; support the recording of bank Carcar WD1 127
reconciling items; Catbalogan WD2&3 255
(2) discrepancies between Damulog WD4 NQ
the book balances and c. Analyze and identify Dipolog City WD4&6 2,783
banks’ confirmation discrepancies and all Estancia WD3 NQ
replies/accounting and unreconciled items and exert Gen. Mariano Alvarez WD1 & 4 24,240
cashier’s efforts to reconcile the long, GuiuanWD1, 2 & 3 517
record/System unaccounted bank Isabel WD2 297
Generated list of transactions; Kapatagan WD3 NQ
collections and Lagangilang WD6 & 7 942
collections recorded d. Ensure that checks drawn Lambunao WD2 & 3 507
per GL; against the bank accounts are Lamitan City WD3 NQ
covered with sufficient Lianga WD2, 3, 4 & 6 2,334
(3) erroneous/non- funds; Libmanan WD1 & 3 298
preparation/insufficien Linamon WD6 205
t preparation of bank e. Cause immediate preparation Maasim WD3 & 4 NQ
reconciliation and/or submission of Maasin WD2 & 4 3,002
statements subsidiary ledger for cash Metro Lipa WD1 72,649
(BRS)/subsidiary account, DCPRs, RCDs, Metropolitan Naga WD6 1,354
ledgers and/or Cash JEVs, ORs, CRR and other Miag-ao WD2 & 3 420
Receipt Record supporting documents; Nabua WD1 1,764
(CRR); Naval WD3 1,309
f. Effect the necessary Pagadian City WD1 126
(4) delayed or non- adjustments to reflect the Plaridel WD1 & 2 1,960
submission of the correct balances of the Pola WD2 & 3 487
BRS, Daily Cash affected accounts; and Pulupandan WD3 NQ
Position Reports San Jose (DI)2, 3 & 6 14,495
(DCPRs), Report of g. Enroll to “we access” Sogod WD3 25,47
Collections and services of the depository Sorsogon City WD3 8,972
Deposits (RCDs), bank to facilitate the prompt Taytay Palawan WD3 3,026
Journal Entry submission of the monthly Tubod-Baroy WD3 & 4 NQ
Vouchers (JEV), reconciliation. Zamboanga City WD1, 2, 4 & 6 16,474
Official Receipts
(ORs), and other
supporting documents;
(5) negative book balance

of account;
(6) erroneous/non-
recording of
transactions/erroneous
preparation of BRS;
and
295
Common Audit Amount
(7) inadequacy of the
submitted bank
statements and/or
supporting documents.
The Designated Cashier/ Direct the Designated Koronadal City WD NQ

Accountable Officer failed Cashier/Accountable Officer to M’lang WD NQ
to maintain Check maintain the required CkDR Polomolok WD NQ
Disbursement Record and CDR of the WD to record Tulunan WD NQ
(CkDR) and Cash regularly the check and cash
Disbursement Record disbursement transactions.
(CDR), as required under
Sections 9, 39, 40 and 59,
Volume II, Manual on the
New Government
Accounting System
(MNGAS); thus: (a)
precluded the timely
review and evaluation of
the transactions; (b) cast
doubt on the propriety of
disbursements transactions;
and (c) deprive
Management from the
prompt information on the
results of the audit.
The WD maintains several Consider the maintenance of Gubat WD NQ

bank accounts for regular one Local Currency Current Sorsogon City WD NQ
operation or general fund, Account with the Land Bank of
contrary to sound internal the Philippines, and closing the
control in the management other bank accounts for better
of funds. cash management and greater
transparency in public financial
management. Likewise,
opening of similar bank
accounts in the future should be
discouraged.
Collections were not Comply with Section 69 of P.D. Abuyog WD NQ

remitted/deposited 1445, COA Circular 97-002 and Aglipay WD NQ
regularly and intact, COA Memorandum No. 2013- Angadanan WD NQ
contrary to Section 69 of 004, and ensure that collections Aurora WD NQ
P.D. 1445, COA Circular are deposited regularly and Balungao WD NQ
97-002, Section 21 of the intact. Batac WD NQ
Manual on the New Bongao WD 133
Government Accounting Bulan WD NQ
System (NGAS); and Item Claveria WD NQ
32, Chapter II of COA Cordon WD NQ
Memorandum No. 2013- Dingras WD NQ
004, as well as with the Dipolog City WD NQ
existing Agency policies Gubat WD NQ
and regulations, resulting Kasibu WD NQ
in: Lasam WD NQ
a. the accumulation of Luna WD NQ
undeposited Maasim WD 158
collections; Maddela WD NQ
296
Common Audit Amount
b. untimely recording of Magsingal WD NQ
remittances; and Matnog WD NQ
Metro San Fernando WD NQ
c. exposure thereof to Pandan WD NQ
possible loss or San Guillermo WD 325
misappropriation. San Manuel WD NQ
San Manuel WD NQ
San Pedro WD 6,051
Sinait WD NQ
Sta. Praxedes WD NQ
Taytay Palawan WD 206
Trece Martires WD NQ
Tulunan WD NQ
Deposit of government a. Comply with the provisions Baguio WD 4,471
funds in various private of Section 69 of P.D. 1445, Bayambang WD NQ
banks is not in consonance DOF Department Circular Benito Soliven WD NQ
with Section 69 of P.D. Nos. 001-2015 and 001- Binalbagan WD NQ
1445, Department of 2017, Department Order No. Bulan WD NQ
Finance (DOF) Circular 27-05 and LWUA Butuan City WD 389,222
Nos. 001-2015 and 001- Memorandum Circular No. Calumpit WD 991
2018, DOF Department 007-17 and deposit Dagupan City WD 6,805
Order No. 27-05 and government funds in Diadi WD NQ
LWUA Memorandum Authorized Government Gattaran WD NQ
Circular No. 007-17. Depository Banks (AGDBs); Guiuan WD NQ
and Kasibu WD NQ
Lal-lo WD NQ
b. Seek prior approval by M’lang WD 384
Department of Finance Malolos City WD 5,127
(DOF) in maintaining a Marilao WD 4,067
depository account with Metro Bangued WD 88,084
private banks or banks which Metro San Fernando WD 1,138
are not designated as Rosales WD 1,176
Authorized Government Roxas WD NQ
Depository Banks (AGDBs), Santa Rosa WD 10,000
otherwise, transfer all Santiago WD NQ
government funds to Sorsogon City WD 410
AGDBs. Sta. Ana WD NQ
Umingan WD 325
Zamboanga City WD NQ
Written authority to open Comply with the amended Bugasong WD NQ
deposit accounts and/or guidelines on authorized Calinog WD NQ
deposit Government Funds government depository banks Estancia WD NQ
from the duly authorized provided in Department of Janiuay WD NQ
official of the Bureau of Finance DC No. 01-2017 dated Lambunao WD NQ
Treasury/DOF were not May 11, 2017. Miag-ao WD NQ
secured contrary to the New Lucena WD NQ
provisions of DOF Tubungan WD NQ
Department Circular (DC)
No. 01-2017 dated May 11,
2017 and LWUA
007-17.
Replenishment and a. Replenish the fund when the Abuyog WD NQ
utilization of petty cash disbursements reach at least Alicia WD NQ
funds (PCF) were contrary 75%, or as the need requires; Angadanan WD NQ
297
Common Audit Amount
to COA Circular No. 97- b. Discontinue payments for Batangas City WD 188
002 and/or Section 39, regular expenses out of the Bongao WD NQ
Volume I of the NGAS PCF; reimbursement of Bugallon WD 184
Manual and/or Section 35, expenses should be paid out Calamba WD NQ
Chapter 4 of GAM Volume of properly approved petty Candon City WD NQ
I and COA Circular No. cash disbursement vouchers; Cordon WD NQ
2015-010. Diffun WD NQ
c. Comply with the provisions Dipolog City WD 20
of COA Circular No. 97-002 Kasibu WD NQ
and NGAS Manual in the Laguna WD 361
utilization and replenishment Luna WD NQ
of petty cash funds; Maddela WD NQ
Magsingal WD NQ
d. Observe the proper recording Manaoag WD 222
and replenishment of PCF in Mapandan WD NQ
accordance with Section 35, Metro Cotabato WD 384
Chapter 4 of GAM Volume Metro Hilongos WD NQ
I; and. Narvacan WD NQ
Pagadian City WD NQ
e. Request from the Board to Paracale WD 126
create a policy on the PCF Pili WD 180
pursuant to Section 1.1.2 of San Manuel (Pangasinan) WD 273
the COA Circular No. 2012- San Manuel (Isabela) WD NQ
001 dated June 14, 2012. Santa WD NQ
Sinait WD NQ
Sipocot WD 183
Sta. Ana WD NQ
Sta. Cruz WD 401
Sta. Lucia WD NQ
Tagudin WD NQ
Tumauini WD NQ
The absence of: Prepare the required reports and Barcelona WD2 NQ
(1) record of cash records to establish Bulan WD3 NQ
accountabilities; accountability for cash and to Cauayan City WD2 NQ
(2) report of monthly facilitate monitoring of Compostela WD2 & 4 NQ
accountability for collections, deposits and Dipolog City WD4 NQ
accountable forms; disbursements. Gattaran WD2 NQ
(3) inadequacy of data Gen. Mariano Alvarez WD2 NQ
(4) non-preparation of the Lasam WD2 NQ
required reports and Luna WD2 NQ
other supporting Maddela WD2 NQ
documents Mambajao WD1 & 2 NQ
Pandan WD2 NQ
resulted in the doubtful Sorsogon City WD4 NQ
validity and accuracy of Sta. Cruz WD2 NQ
recorded transactions Talibon WD2 NQ
pertaining to collections, Talisayan WD1 & 2 NQ
deposits and Tulunan WD2 NQ
disbursements, contrary to
existing accounting rules
and regulations.
The Accountable Officer Accountable Officer should Lasam WD NQ
did not maintain cashbooks maintain cashbooks for the Luna WD NQ
for salaries, wages, petty cash disbursement/ Sta. Praxedes WD NQ
allowances and for petty replenishments and cash
cash fund to record receipts advances/ liquidations for
298
Common Audit Amount
and disbursements of cash salaries, other personnel
advances contrary to Item benefits and Board of Directors
6.2 of COA Circular No. (BOD) honorarium duly footed
97-002 dated February 10, and certified at the end of each
1997. month.
Collections were directly a. Stop the practice of using Cabusao WD 183
used to pay regular collections for payment of San Isidro WD 184
expenses, contrary to regular expenses; and
Section 69 (1) and (4) of
P.D. No. 1445 and Section b. Payment of various expenses
2 of COA Circular No. 97- should pass through the usual
002, thus, exposing disbursements procedures
government funds to and must be made through
unauthorized use and risk checks.
of possible loss or theft.
The issuance of pre- Issue pre-numbered official Maddela WD NQ
numbered official receipts receipts in strict numerical Roxas WD NQ
in strict numerical sequence in compliance with
sequence was not properly Item 24, Chapter II of the
observed by the Revised Cash Examination
Accountable Officer Manual.
contrary to Item 24,
Chapter II of the Revised
Cash Examination Manual.
Loans and Other Receivables

Loans/contracts/accounts a. Continuously monitor and Alcala WD 3,695
receivables/other intensify efforts to increase Balungao WD 316
receivables remained collection of receivables Banate WD 1,918
uncollected or have long through issuance of demand Banga WD 459
been outstanding/past letters; Bato (Catanduanes) WD 303
due/dormant thus, exposing Bocaue WD 5,048
the WD to liquidity risk or b. Devise other options and if Bongao WD 55,028
reduced amount of warranted, resort to legal Borongan WD 189
resources for means to enforce settlement Cabagan WD 865
operations/lending/ of accounts including those Cabanatuan City WD 12,396
relending that could have pertaining to prior years Camarines Norte WD 9,487
generated additional without request for write off; Cauayan City WD 1,100
income for the WD, and Cordon WD 311
casts doubt as to their c. Exhaust all viable means to Culion Palawan WD 717
collectability. collect all long outstanding/ Del Gallego WD 486
dormant/delinquent Dinalupihan WD 814
receivable or past due Estancia WD 1,115
accounts and ensure proper Gen. Mariano Alvarez WD 9,865
documentation of accounts Glan WD 679
and coordination of Gonzaga WD 158
concerned Agencies; Guagua WD 2,687
Jaro WD 165
d. Set collection targets to Jose Panganiban WD 1,293
determine and assess Libmanan WD 1,180
collectability of the accounts Lubao WD 2,104
as basis for further action to Manapla WD 3,146
be undertaken; Metro Bangued WD 9,931
Metro San Fernando WD 4,645
e. Strictly impose disconnection Metro Tayug WD 1,324
299
Common Audit Amount
policy for active water Naujan WD 549
concessionaires with past New Lucena WD 151
due accounts; Pandan WD 105
Paracale WD 6,649
f. Conduct in-depth analysis Peñablanca WD 197
and verification of the Pili WD 3,086
receivables, and request from Pinamalayan WD 4,379
COA for possible write-off Puerto Princesa City WD 56,576
of those deemed Ragay WD 4,019
uncollectible accounts after Romblon WD 432
exerting all efforts and Rosales WD 1,297
complying with the Roxas Palawan WD 2,475
requirements for write-off of San Fernando WD 22,203
dormant accounts pursuant to San Manuel WD 878
COA Circular No. 2016-005; San Nicolas (Pangasinan) WD 443
and San Pedro WD 38,289
San Quintin WD 400
g. Refrain from accepting Santa Maria WD 677
promissory notes from Santa Maria WD 362
concessionaires. Santiago WD 3,350
Sipocot WD 2,900
Sto. Niño WD 218
Sulat WD 162
Taft WD 662
Tanauan WD 12,442
Taytay Palawan WD 1,636
Tupi WD 423
Umingan WD 656
Urdaneta City WD 10,565
Viga WD NQ
Villasis WD 1,374
Virac WD NQ
Discrepancies between the a. Analyze the causes of Alicia WD 184
GL and SLs/reciprocal discrepancies between the Angeles City WD 255
accounts of receivable and GL and SLs, reciprocal Baao WD 159
payable and/or against the accounts, aging schedules, Babatngon WD NQ
aging schedules/Monthly confirmation replies and Bacacay WD 1.806
Data Sheet/results of generated computerized Baguio WD 379
confirmation/generated report and cause the Banate WD 342
computerized report reconciliation/adjustments of Banga WD 187
resulted in unreconciled affected accounts to Batangas City WD 112
items, hence, the correct reconcile their balances; Bato (CamSur) WD 1,689
balances of receivable Binalbagan WD 507
accounts cannot be b. Coordinate with the Bocaue WD 974
ascertained. Programmer whether there Bulacan WD 224
are ways for the system to Bunawan WD 127
generate reports which Calabanga WD 1,875
would help the Accounting Calumpit WD 538
and Billing Department to Camarines Norte WD 2,522
reconcile both records; Cauayan City WD 1,239
Dagupan City WD 989
c. Consider acquiring a new Daraga WD 599
Billing and Collection Dasmariňas WD 48,718
System which have been Diffun WD 584
proven and tested by other Escalante WD 237
established WDs that could Estancia WD 1,097
300
Common Audit Amount
meet the reportorial demands Gattaran WD 651
of the district; Gen. Mariano Alvarez WD 771
General Santos City WD 7,276
d. Revisit the terms and Glan WD 226
conditions of the contract of Gonzaga WD 495
agreement in the billing Ipil-Titay WD NQ
system executed by the WD Iriga City WD 5,534
and the Service Provider to Isabela City WD 1,714
demand immediate action of Jaro WD 121
fixing the system error in the Kabankalan City WD 2,793
New Billing System and Lamitan City 3,252
institute legal remedies for Leyte Metropolitan WD NQ
possible breach of contract; Lianga WD 1,050
and Libmanan WD 1,238
Ligao City WD 783
e. Review the computerized Malaybalay City WD 1,176
system installed to provide a Mambajao WD 267
more accurate and reliable Manaoag WD 559
data so as to achieve fair Marilao WD 319
presentation of the WD’s Metropolitan Cebu WD 388,875
financial statement. Metropolitan Naga WD 1,585
Metropolitan Tuguegarao WD 259
Miag-ao WD 708
Miag-ao WD 786
Nasipit WD 2,842
Odiongan WD 509
Pinamungajan WD 751
Pozorrubio WD 173
Reina Mercedes WD 366
San Guillermo WD 710
Silang WD 310
Sipocot WD 326
Sta. Lucia WD 766
Surigao Metropolitan WD 300
Tagbina WD 187
Talisayan WD NQ
Tanauan WD 169
Tanay WD 243
Tangub City WD 1,319
Trece Martires WD 6,092
Tubungan WD 176
Tupi WD 1,004
Urbiztondo WD 158
Virac WD 312
Unsubstantiated/ a. Exert all effort to trace the Abulug WD NQ
incomplete/ non- balances of receivables Amulung WD NQ
maintenance/absence of accounts and locate their Angadanan WD 14,940
reports, subsidiary ledgers/ supporting documents; Banga WD NQ
contracts/aging schedules Bangui WD 145
and/or non-submission of b. Maintain/update the required Calinog WD 217
supporting documents cast SLs/aging schedules/hard Catbalogan WD 308
doubts on the existence/ copies of duly approved General Santos City WD 1,035
accuracy of the receivable Billing Adjustment Memo; Guiuan WD 3,177
and the WD’s rights over and Janiuay WD 3,535
them. Kasibu WD 132
c. Execute the required contract Lambunao WD 2,186
301
Common Audit Amount
and/or locate and submit the Leyte Metropolitan WD NQ
required documents to Manapla WD 313
establish validity of claims Miag-ao WD 4,063
and to support the recorded New Lucena WD 9,426
transactions in the books. Ramon WD 1,731
San Jose Del Monte City WD 8,056
San Pedro WD NQ
Sto. Niño WD NQ
Sulat WD 162
Taft WD. 985
Tupi WD NQ
Erroneous recording/ a. Prepare the necessary Bislig City WD 213
classification or non- adjusting entry to reflect the Calabanga WD 114
recognition/non-recording accurate balance of the Candelaria WD 1,279
in the books of accounts accounts affected; and Jose Panganiban WD 1,360
resulted in the doubtful Metropolitan Cebu WD NQ
validity of the accounts and b. Instruct the concerned Naval WD 3,373
misstatement of the personnel in the Accounting San Jose Del Monte City WD 2,548
affected accounts, contrary Department to properly Sta. Cruz WD 177
to Section 119 of P.D. No. classify the account in Toledo City WD 1,946
14 45. accordance with the
description of the accounts as
prescribed in the Revised
Chart of Accounts for
Government Corporations.
Allowance for impairment a. Classify and evaluate the Alcala WD NQ
loss/doubtful accounts/bad receivable accounts correctly Angadanan WD NQ
debts/probable loss was to determine the appropriate Balingasag WD 672
either (a) not provided or allowance for doubtful Balungao WD NQ
(b) in excess or inadequate accounts and to recognize Bangui WD NQ
due to deficiencies/errors impairment loss in Bani WD NQ
in computation/without compliance with PAS Batangas City WD 802
bases/ absence of objective 39/PFRS 9; Bato (CamSur) WD 846
evidence of asset Bayambang WD NQ
impairment, contrary to b. Prepare adjusting entries to Binmaley WD NQ
PAS 39/Section 66 of ensure fair presentation of Calamba WD 11,043
NGAS/PFRS 9, the net realizable value of the Calinog WD NQ
International Accounting receivable accounts and the Carmona WD 283
Standard (IAS) No. 36 and related expense accounts in Claveria WD 297
Section 111 of P.D. No. compliance with PAS 39; Escalante WD NQ
1445, resulting in the and Estancia WD NQ
misstatement of the Gen. Mariano Alvarez WD 606
receivable and related c. Refer to LWUA for the Guiuan WD NQ
expense accounts. establishment of specific Ilocos Norte WD NQ
guidelines for water districts Ipil-Titay WD NQ
in the computation of Janiuay WD NQ
Allowance for Impairment Kasibu WD NQ
Loss for Accounts Lambunao WD NQ
Receivable. Libmanan WD NQ
Lingayen WD NQ
Magsingal WD NQ
Maluso WD 2,246
Manolo Fortich WD 808
Maramag WD 2,311
Metro Lipa WD 20,278
302
Common Audit Amount
Metro Tayug WD NQ
Metropolitan Naga WD 2,648
Miag-ao WD NQ
Naguilian WD NQ
Naval WD NQ
New Lucena WD 383
Pozorrubio WD NQ
Rosario WD NQ
Sagay WD NQ
San Carlos City WD NQ
San Nicolas (Ilocos Norte) WD NQ
San Pablo City WD 17,685
Santa Maria WD NQ
Sta. Praxedes WD NQ
Sulat WD NQ
Taft WD NQ
Taft WD NQ
Tagoloan WD 337
Talisayan WD NQ
Tanauan WD 4.066
Tanay WD 1,225
Tubungan WD NQ
Umingan WD NQ
Villasis WD NQ
Cash Advances
The Cash Advances (CA) a. Cause the immediate Alicia WD NQ
granted to officers and liquidation of all outstanding Baliwag WD 626
employees remained cash advances where the Barcelona WD 107
unliquidated; or CA was purpose/s for which were Binmaley WD NQ
granted to a non-permanent already served and those Bislig City WD 1,555
or not duly designated which remained unused for Dagupan City WD NQ
employees; or additional over two months in Kabankalan City WD 2,060
cash advances were accordance with existing Linamon WD 249
granted despite non laws, rules and regulations; Malolos City WD 1,217
liquidation of previous CA Masbate-Mobo WD 4,857
contrary to COA Circular b. Refrain from granting Metro San Fernando WD 342
Nos. 97-002, 2012-004, additional cash advances to Naval WD 413
Section 89 of P.D. 1445 those with still unliquidated New Corella WD 251
and Item 1.2 of the COA prior cash advances; and. Oroquieta City WD 3,506
Circular No. 2012-001 Pagadian City WD 158
dated June 14, 2012. c. Take appropriate legal Placer WD 166
actions to enforce the Sipocot WD 5,501
liquidation or recovery of Surigao Metropolitan WD 554
unliquidated cash advance. Zamboanga City WD 211
Cash advances were Require liquidation of cash Bayambang WD NQ
liquidated beyond the advances within the Gen. Mariano Alvarez WD 651
prescribed period contrary reglementary period as Surigao Metropolitan WD 10,889
to COA Circular No. 97- provided for under COA
002 and EO 298 (Rules and Circular No. 97-002 and EO
Regulations on Official 298.
Local and Foreign Travels
of Government Personnel).
303
Common Audit Amount
Documents to support the a. Stop the processing of CA Culion Palawan WD 2,552
liquidation of cash liquidations for those Floridablanca WD 395
advances liquidations without the Ipil-Titay WD 2,197
were/incomplete/deficient required supporting Isabela City WD 489
contrary to Section 4(6) of documents; Kabankalan City WD 381
P.D. No. 1445 and COA Laguna WD NQ
Circular No. 2012-001 b. Submit the lacking Mabalacat WD 3,622
dated June 14, 2012, thus, documents and ensure that Masbate-Mobo WD 342
validity and propriety of liquidations of cash advances Paracale WD NQ
the reported expenditures are supported with complete Roxas Palawan WD 2,643
could not be fully documentation; and San Pedro WD NQ
substantiated. Sipocot WD NQ
c. Verify the completeness of Sta. Cruz WD NQ
supporting documents before Tagkawayan WD 137
certifying any claims for Taytay Palawan WD 1,679
payment in compliance with
Section 4(6) of P.D. No.
1445.
CA granted to Contractor a. Comply strictly with laws, Abulug WD 224
remained long outstanding rules and regulations on the Aroroy WD 609
and have not been properly grant and utilization of cash Donsol WD 163
recouped/or CA granted to advances; Metropolitan Cebu WD 600
officials/employees were Metropolitan Naga WD 413
used as payment for the b. Observe the provision of New Corella WD 492
procurement of supplies R.A. 9184 in the Pinamungajan WD NQ
and materials and other procurement of supplies, Sorsogon City WD 464
regular expenses or has no materials and equipment; Tabaco City WD 133
specific legal purpose/in
contrary to Annex E of the c. Require the Senior Cashier to
Revised IRR of R.A. 9184; return to the Cash in Bank
Section 93 of P.D. 1445, account the corresponding
Section 10 of R.A. 9184 amount intended as Working
and COA Circular 97-002. Fund used as payment for the
procurement of supplies and
materials and other regular
expenses, since it is not in
keeping with the provisions
of COA Circular No. 97-002;
and
d. Demand a refund from the

contractor of the un-
recouped advance payment
and/or file appropriate
charges and damages, if
warranted.
Erroneous recording/non- Prepare the necessary adjusting BoronganWD 2,780
recognition in the books of entry to reflect the accurate Masbate-Mobo WD NQ
accounts resulted in balance of the accounts San Pablo City WD 9,981
doubtful validity of the affected. Zamboanga City WD 355
recorded cash
advances/receivables
account and other affected
accounts.
304
Common Audit Amount
Inventories
The accuracy and existence a. Conduct physical count of Abuyog WDa, b, e & f 927
of various recorded inventories; Alcala WDb NQ
inventory items could not Amulung WDc 242
be determined due to any b. Analyze, reconcile and Angadanan WDa & e 140
or combination of the provide full accounting of Balatan WDa & e NQ
following conditions: the differences in the Bangui WDa & e NQ
a) incomplete/non- books/records/reports/stock Batangas City WDa 6,384
conduct of physical cards and the physical count Bato (CamSur) WDc 356
count; and effect the necessary Binalbagan WDd & g 3,021
adjustments to reflect the Bombon WDa 145
b) unreconciled balances; correct book balance of Borongan WDa, b & e 1,327
inventories; Butuan City WDc & e 164
c) discrepancies of the Calabanga WDd & e NQ
balances in the books c. Conduct periodic Calamba WDd 31,741
as against the report on reconciliation of the Calinog WDa & e 2,112
the physical count; accounting and supply Dalaguete WDb 424
records with the RPCI; Diffun WDa & e 223
d) discrepancies between Dingras WDa NQ
the stock cards or d. Prepare, maintain and update Gen. Mariano Alvarez WDa & c 3,935
inventory reports, stock regularly the Stock Ledger Gonzaga WDc 1,223
cards and report on the Cards, as well as the Gubat WDa 1,769
physical count/SLs; Subsidiary Ledgers for each Guiuan WDb 9,403
item as control records and Ilocos Norte WDa NQ
e) absence or incomplete to facilitate the reconciliation Isabela City WDc 214
records/reports/contract of balances; Kabankalan City WDb 4,682
s/ SLs/stock Kasibu WDe 717
cards/Inventory e. Ensure the monthly Labason WDc 194
Custodian Slip (ICS)/ submission of the certified Legazpi City WDc 224
Report of Physical correct Journal Entry Libmanan WDc 1,120
Count Inventory Vouchers together with the Maddela WDa & e 2,146
(RCPI)/ Revised Chart supporting documents such Magsingal WDa NQ
of Accounts (RCA) and as the Report on Supplies Malaybalay City WDc & f 6,989
other supporting and Materials Issued Manapla WDc NQ
documents; (RSMI), RCPI and Masbate-Mobo WDa 4,343
corresponding Requisition Metro Lipa WDc & f 60,603
f) existence of negative and Issue Slips for issuance Metro Tayug WDa NQ
balances; of inventories; and Metropolitan Cebu WDc & e 212,789
Metropolitan Naga WDc 1,500
g) Non- g. Record the Inventory and Miag-ao WDa & e 2,883
recording/erroneous corresponding Accounts Nabua WDe 214
recording of Payable upon inspection and Nasipit WDc & e 1,348
transactions or acceptance of the delivered New Lucena WDa & e 230
misclassification may purchases. Pinamungajan WDc 1,129
result in the Placer WDc 1,593
misstatement of the Pola WDa & e 686
inventory and liability Reina Mercedes WDa & e 1,779
accounts Rosales WDc 143
Roxas WDa & e 1,876
h) several items that San Jose (DI) WDc & e 2,286
qualify as PPE were San Pablo City WDa & d 10,166
treated as part of San Pedro WDa & e 48,981
inventory accounts Santa WDa NQ
Santiago WDd 7,608
Sinait WDc 229
Sta. Ana WDa & e 2,019
305
Common Audit Amount
Sulat WDa & e 126
Surigao Metropolitan WDc & e 10,372
Tagudin WDa & e NQ
Talibon WDa 790
Tubungan WDa 1,170
Urdaneta City WDa & d 1,496
Villasis WDa NQ
Zamboanga City WDb & e 70,737
Inventories remained in the Coordinate and secure from Daraga WD 3,592
books of the WD despite PrimeWater the necessary Iriga City WD 9,352
having been transferred to documents for the transferred
the PrimeWater during the inventories, which would
implementation of the JVA include among others the
Physical Count of the
Inventories as of the date of its
actual transfer, and thereafter,
for the Accountant-Designate to
effect immediately, through a
Journal Entry Voucher, the
dropping from the books of the
total amount of the non-existing
inventories.
Property, Plant and Equipment (PPE)

The reliability of the a. Create an Inventory Abulug WDa & f 26,243
balance of the Property, Committee that will conduct Abuyog WDa & b 105,868
Plant and Equipment (PPE) and/or complete the physical Aglipay WDa & f 1,497
accounts was doubtful due count of PPE; Alcala WDb NQ
to any or combination of Angadanan WDa, c & f 3,817
the following conditions: b. Require the Water Districts’ Asingan WDe 55,225
a) incomplete/non- Accounting and Property Aurora WDa & f 4,261
conduct of physical Unit to maintain Property/ Baao WDb & f 63,354
count; Stock cards/PPELC; Babatngon WDe 8,870
Bacacay WDe 14,142
b) partial/non- c. Analyze and reconcile the Baguio WDa & e 1,376,225
reconciliation of the Inventory Report with the Balatan WDa&c NQ
results of physical accounting and property Balingasag WDc NQ
count with book records to establish the Balungao WDa & b 165
balances and relevant accuracy of the recorded Banate WDa & f 38,642
accounting records; balances of the PPE Banga WDa & f 7,716
accounts; and Bani WDa & e 2,529
c) absence/non- Batac WDc 264
submission/ partial d. Prepare and submit the Batangas City WDa 653,932
completion of physical required supporting Bayambang WDa & f NQ
inventory report; documents/reports. Baybay City WDa,b,d & e 90,278
Belison WDa & f 17,518
d) existence of abnormal Binalbagan WDa 48,646
balances/unrecorded Bombon WDa 31,108
items/unclassified Bongao WDf 52,092
assets/ unlocated Borongan WDa 40,094
properties; Bugallon WDa & f NQ
Bugasong WDe, f, g & e 20,382
e) discrepancies between Bulan WDa & b 52,012
the GL and SLs or Cabagan WDd 13,649
physical count; Cabusao WDa & c 20,000
306
Common Audit Amount
f) absence/incomplete Cagayan de Oro WDa NQ
supporting documents/ Calamba WDd 688,792
SLs/Property/Stock Calbayog WDe 24,171
cards/Property, Plant Camalig WDe 140
and Equipment Ledger Candelaria WDa & f 85,730
Cards (PPELC); Catbalogan WDe & f 106,193
Cauayan City WDa & h 117,040
g) inclusion of City of Ilagan WDd 165,348
unserviceable Claveria WDa NQ
properties; and Cordon WDb & f 14,063
Culion Palawan WDa & f 33,136
h) reconciling items Dagupan City WDa, c & f NQ
remain unadjusted in Dapitan City WDb 23,035
the property and Dasol WDa NQ
accounting records. Diffun WDc, e & f 20,023
Escalante WDc 17,438
Estancia WDa 35,921
Gattaran WDa, f & h 12,166
Gen. Mariano Alvarez WDa & c 313,165
Gingoog City WDa & f NQ
Glan WDa & c 22,319
Gubat WDa 41,457
Guiuan WDb, c & d 61,287
Hamtic WDa & f 1,846
Hernani WDa&f 4,573
Ifugao WDc & f 7,958
Ilocos Norte WDc & f 523
Isabel WDb 23,220
Isabela City WDb 2,552
Janiuay WDa 35,432
Jaro WDa & b 11,459
Jordan WDa 23,776
Kabankalan City WDa 70,345
Kalamansig WDa & c 2,982
Kapatagan WDc NQ
Kasibu WDa & f 15,949
Kiblawan WDa 7,597
Koronadal City WDa & f 209,929
Labason WDa 41,757
Lambunao WDa 29,382
Laoang WDa & f 17,919
Lebak WDa & c 18,971
Legazpi City b 11,883
Leyte Metropolitan WDb 1,473,590
Libmanan WDb 3,246
Ligao City WDa 18,320
Linamon WDb NQ
Lingayen WDa&c NQ
Maasin WDe & f 84,253
Maddela WDa & f 21,146
Magsingal WDa & f NQ
Malungon WDa, f 34,182
Mambajao WDb,e & f 330
Manaoag WDe 611
Mangaldan WDe 6,975
Manolo Fortich WDg 947
Mati WDd 4,586
307
Common Audit Amount
Metro Carigara WDa, b & f 56,747
Metro Cotabato WDe 8,747
Metro Hilongos WDa & f 60,109
Metro Ozamiz WDb & g NQ
Metro San Fernando WDb NQ
Metro Tayug WDb & e 5,543
Metro Vigan WDa NQ
Metropolitan Tuguegarao WDb 115,474
Miag-ao WDa 14,995
Nabua WDb 6,414
Nabunturan WDd 730
Naguilian WDa & c 9,566
Nasipit WDa & e 27,363
Naval WDf, b & g 77,731
New Lucena WDa & e 3,690
Norala WDj NQ
Oras WDf 11,853
Peñablanca WDa, e & f 13,472
Pilar WDb 3,043
Placer WDe, f & g 20,827
Pola WDa, c & f 8,846
Puerto Princesa City WDf, g & d 813,971
Pulupandan WDc & f 20,569
Reina Mercedes WDa & f 26,935
Rosales WDb NQ
Roxas Palawan WDa & e 28,551
Roxas WDa, c & f 37,925
San Carlos City WDa & f NQ
San Francisco WDe 3,078
San Isidro WDa & f 1,483
San Jose (DI) WDc, e & g 53,316
San Jose WDa 8,922
San Manuel WDc & f 25,451
San Nicolas (Ilocos Norte) WDb 1,408
San Pablo City WDa, b & c 416,433
San Pedro WDa, b & f 713,426
San Quintin WDa NQ
Sanchez Mira WDa & c 27,299
Santa Maria WDa & b 41,801
Santa WDa NQ
Santiago WDb 732,049
Sarrat WDa NQ
Silang WDb 282,977
Sipalay WDb & f 21,093
Sipocot WDb 25,987
Socorro WDh 1,695
Sogod WDd & f 20,804
Sta. Ana WDa & f 34,388
Sta. Cruz WDe 123,570
Sulat WDf 20,092
Surallah WDg NQ
Surigao Metropolitan WDa & f 537,626
Taft WDf 13,366
Tagaytay City WDb & e 444,672
Tagbina WDf & h 708
Tagoloan WDa NQ
Tagudin WDa NQ
308
Common Audit Amount
Talisayan WDa & f NQ
Tanauan WDa & c 285,720
Tanay WDc 288,556
Tandag City WDa & f 100,064
Tangub City WDc & g NQ
Taytay Palawan WDa & e 14,053
Trece Martires WDa & c 100,856
Tubod-Baroy WDb NQ
Tubungan WDa & c 14,311
Tumauini WDc 28,630
Tupi WDa & f 6,910
Umingan WDa NQ
Urbiztondo WDa NQ
Urdaneta City WDa&b 81,430
Valencia WDa NQ
Villasis WDa & b NQ
Zamboanga City WDb 4,863
Non-recording/erroneous a. Conduct periodic Abuyog WD 885
classification/recording of reconciliation of the agencies Baao WD 21,678
transactions or financial reports and records Calinog WD 17,009
misclassification/non- on implemented projects, as Catbalogan WD 19,841
reclassification/non- these reports and records are Davao City WD 633,373
reconciliation of accounts accounting and auditing tools Digos WD 2,574
such as Services and in establishing the correct Donsol WD 24,374
Meters account/non- balance of the CIP; Guiuan WD 734
transfer of completed PPE Guiuan WD 3,127
structure/ projects from the b. Transfer completed projects Ifugao WD 11,033
Construction in Progress from the CIP account to the Janiuay WD 5,833
(CIP) accounts resulted in respective asset account; Kabankalan City WD 4,519
the misstatement of the Lambunao WD 4,645
PPE, CIP and other related c. Prepare the necessary Legazpi City NQ
accounts. adjusting entries to reflect Libmanan WD 3,427
the accurate balances of the Maasin WD 3,244
PPE, CIP, and other related Magsingal WD 898
accounts; Malaybalay City WD 18,270
Maramag WD 5,263
d. Reclassify the Meters Metro Kidapawan WD 23,517
account to Other Supplies Metro Lipa WD 850
Inventory – Meters; and Metropolitan Cebu WD 217,482
Nabunturan WD 15,591
e. Require to maintain General New Lucena WD 15,647
Ledger/Subsidiary Ledger Oras WD 8,689
for CIP account in order to Pagadian City WD 3,395
properly support the balances Panabo WD 4,129
appearing in the financial Pasacao WD 245
statements. Placer WD 9,514
Ragay WD 14,330
San Isidro WD 876
San Pedro WD 5,336
Sipocot WD 3,155
Tagaytay City WD 38,165
Tanay WD 1,489
Zamboanga City WD 25,822
309
Common Audit Amount
PPE items were not Systematically allocate Abuyog WD NQ
depreciated or the depreciable amount of an asset Bayambang WD NQ
corresponding depreciation over its estimated useful life by Bugallon WD NQ
were erroneously computed recognizing depreciation Camarines Norte WD 681,194
which runs counter to PAS expense to present the asset’s Dingras WD 1,845
16 and COA Circular No. net carrying amount. Dipolog City WD 851
2003-007, resulting in the General Santos City WD 3,049
misstatement of PPE and Guiuan WD NQ
other related accounts. Hernani WD NQ
Ifugao WD 1,120
Laguna WD 12,068
Lamitan City WD 921
Lingayen WD NQ
Magsingal WD NQ
Oras WD NQ
San Juan WD 2,089
San Pedro WD 1,462
Sorsogon City WD NQ
Sto. Tomas WD NQ
Tanauan WD 2,500
Tandag City WD 126,790
Depreciation Expense and a. Prepare Journal Entry Alicia WD 811
total Accumulated Voucher (JEV) to adjust the Banate WD 1,017
Depreciation were found Accumulated Depreciation Bato (CamSur) WD 534
unreliable due to the: (a) and other related accounts; Estancia WD NQ
discrepancies between the Iriga City WD 2,054
balance per Statement of b. Prepare Lapsing Schedule Maasin WD 11,004
Financial Position and the for all PPE to support the Metro Hilongos WD NQ
balance per audit because monthly depreciation Nabua WD 7,312
of the change in the useful expenses; and New Lucena WD NQ
life of the PPE; (b) non- Sta. Ana WD 456
preparation of Lapsing c. Review and revisit the Tanauan WD 49,847
Schedule to support the computation of depreciation
recording of depreciation of Property, Plant and
expense for each category Equipment and monitor the
of PPE or due to provision of depreciation for
inadequate monitoring in each line item.
the depreciation schedule.
Unserviceable/obsolete a. Conduct complete inspection Alcala WD 433
properties remained and actual inventory of Aparri WD 483
undisposed. obsolete and unserviceable Asuncion WD 331
properties; Bacacay WD 550
Balungao WD 2,284
b. Cause the disposal of the Bansalan WD 1,460
unserviceable property in Binalonan WD 613
accordance with Sec. 79 of Bulan WD 263
PD 1445, COA Circular No. Cordon WD 500
89-296, and Sec. 64, Volume Dapitan City WD 1,707
II of the NGAS Manual; and Del Gallego WD 670
Diffun WD 1,145
c. Reclassify said items Digos WD 824
pending their disposal in Jose Panganiban WD 820
accordance with applicable Kolambugan WD 218
accounting standard Ligao City WD NQ
requirement/s. Lupon WD 198
Malaybalay City WD 648
310
Common Audit Amount
Manaoag WD 134
Manolo Fortich WD 947
Mati WD 822
Metro Tayug WD 1,488
Nabunturan WD 7,234
Naguilian WD 3,686
Naval WD 836
Pagadian City WD 14,984
Pili WD 2,160
Pres. M.A. Roxas WD 2,076
Puerto Princesa City WD 30,588
Quezon WD 580
Ragay WD 1,710
Ramon WD 1,264
Rosales WD 1,544
Sablayan WD 611
Sagay WD 3,881
San Guillermo WD 109
San Isidro WD 822
San Jose WD 1,502
San Nicolas (Pangasinan) WD 274
San Pedro WD 661
Santa Maria WD 248
Sipocot WD 1,295
Tanauan WD 3,492
Umingan WD 174
Villasis WD 439
Non-revaluation/non- a. Conduct appraisal of all PPE Asuncion WD 30,204
appraisal of PPE was by an independent and B.E Dujali WD 9,630
contrary to paragraphs 31 qualified appraiser or expert Baganga WD 5,983
and 32 of Philippine as required under PAS 16 Bansalan WD 51,750
Accounting Standards and COA Resolution No. 89- Carmen WD 10,718
(PAS) 16 and COA 17; and Compostela WD 10,965
Resolution No. 89-17 Culion Palawan WD 33,136
rendering the balances of b. Require the adjustment of the Hagonoy WD 18,607
the PPE accounts doubtful. carrying amounts of the Igacos WD 9,757
affected assets in the Kapalong WD 7,012
Agency’s books, once the Lupon WD 30,315
results of the appraisal are Malaybalay City WD 14,796
obtained. Manolo Fortich WD 1,831
Maramag WD NQ
Mati WD 38,062
Nabunturan WD 7,845
New Corella WD 20,564
Panabo WD 91,726
San Isidro WD 17,934
Tarragona WD 4,352
The Semi-Expendable a. Make the necessary adjusting Abulug WD NQ
Properties were not and correcting entries to Baao WD 1,019
reclassified in the proper reclassify semi-expendable Bacacay WD 372
accounts contrary to Item properties; Bato (CamSur) WD 459
2.1 of DBM Circular Letter Bombon NQ
No. 2016-7, Revised Chart b. Comply with the policies Cabagan WD NQ
of Accounts, and COA prescribed under paragraph Calabanga WD 1,313
311
Common Audit Amount
Circular No. 2016-006 5.4 of COA Circular No. Calamba WD 685
resulting in misstatements 2016-006 in the recording of City of Ilagan WD NQ
in the PPE, Accumulated purchases of semi- Ipil-Titay WD 539
Depreciation, Retained expendable items; and Irosin WD 1,218
Earnings and related Isabela City WD 1,006
accounts; and (b) issuances c. Ensure that ICS is issued to Kabankalan City WD 297
thereof to end-users were the end-user to establish Metropolitan Naga WD 14,819
not supported with the accountability over the semi- Nabua WD 5,400
Inventory Custodian Slip expendable property. Pasacao WD 230
(ICS) to monitor and Sagay WD 1,452
establish accountability Tagaytay City WD 7,118
over the said properties;
thus, there is risk of loss or
misappropriation.
Intangible Assets
Acquired and internally a. Prepare the necessary Binalonan WD 561
generated computer adjusting entries for the fair Catbalogan WD 199
software was recognized in presentation of the affected Ipil-Titay WD 138
the books as PPE instead of accounts; and Manaoag WD 149
Intangible Assets account
contrary to PAS 38. b. Recognize intangible assets
in accordance with PAS 38.
Other Assets
Erroneous recording/non- Analyze and prepare the Baguio WD 2,979
recording classification/ necessary adjusting entries to Binmaley WD 332
presentation/unreconciled reflect the accurate balance of Bulan WD 134
amounts of other assets the other asset and affected Carmona WD 1,975
resulted in the accounts. Catbalogan WD 1,153
misstatement of the other Guiuan WD 195
asset accounts thus, San Pablo City WD 1,460
affected the reliability/ Tagkawayan WD 2,799
accuracy of Other Assets Tagoloan WD 7,048
and the related affected
accounts.
Loans/Accounts Payable and Other Payables

Several payable accounts a. Analyze and confirm the Aglipay WD 3,375
remained outstanding/ payable accounts to Baao WD 211
dormant/not settled for determine their validity and Balatan WD 4,838
more than one year completeness; revert to Bongao WD 28,332
resulting in the Retained Earnings Butuan City WD 877
accumulation of long undocumented payables Cabusao WD 265
outstanding payables which have been outstanding Claveria WD 239
account and/or incurrence for more than two years as Cordon WD 34,503
of interest and penalties for provided under P.D. 1445; Gen. MacArthur WD 11,298
non-payment of the loans Gubat WD 138
in violation of the pertinent b. Strictly observe the Guiuan WD 8,034
provisions of the contract/ provisions on debt servicing Irosin WD 2,726
MOA/rules/regulations/ and update the monthly Kibawe WD 954
Section 61 (e) of P.D. 198 amortizations to avoid Maddela WD 17,271
as amended by Section 31 further incurrence of Matnog WD 2,330
of P.D. 768 and Sections penalties and interest; Metropolitan Cebu WD 63,409
312
Common Audit Amount
59 and 98 of P.D. 1445. c. Intensify collection Metropolitan Naga WD 453
efficiency and reduce water Pagadian City WD 165
losses to improve financial Pigcawayan WD 26,311
standing; thus, making them Pinamalayan WD 61,956
financially capable in Quezon WD 605
meeting their financial San Manuel WD 852
obligations; and Taft WD 232
Tanauan WD 917
d. Settle immediately the long- Toledo City WD 10,475
outstanding payable. Tupi WD 141
Non-maintenance/ a. Submit for review the Abulug WD 2,235
incomplete/ absence of required supporting Baao WD 1,171
reports/ supporting documents, schedules, Banate WD 22,263
documents /SLs/schedules reports, SLs to prove Borongan WD 25,634
to establish validity of existence, accuracy and Calinog WD, 9,135
various transactions/ validity of loan/accounts and Dagupan City WD NQ
contracts rendered the others payables; and Libmanan WD 236
accuracy and validity of the Metropolitan Naga WD 448
payable transactions and b. Verify the details from Metropolitan Tuguegarao WD 3,997
balances doubtful. source documents to San Carlos City WD NQ
establish the composition of Sorsogon City WD 1,404
the payable accounts and Sulat WD 1,339
maintain subsidiary records Zamboanga City WD 89,952
to support the balances of the
payable accounts.
Non-reconciliation of the a. Properly monitor the WDs Abulug WD 1,786
balances appearing in the payment of loans, review the Abuyog WD 2,094
general ledger of the Loan Agreement and trace Aglipay WD 289
Water District (WD) with all the previous payments Alicia WD 6,308
the records of the LWUA/ made; and Amulung WD 3,997
confirmation replies from Angadanan WD 4,631
other lenders resulted in b. Reconcile the balance of the Asuncion WD 4,609
the discrepancy which Loans Payable account per B.E Dujali WD 2,781
rendered the balance of the book of the Agency and per Baao WD 15,926
Loans Payable and other records; and Baganga WD 672
related payable accounts Bongao WD 8,188
doubtful, contrary to c. Prepare corresponding Borongan WD 19,389
Section 111(1) and/or Sec. adjusting entries as soon as Cagayan de Oro WD 301
59 of P.D. 1445 and 73(a) the cause of the difference is Calinog WD 7,201
of the New Government established. Candon City WD 65,926
Accounting System Carmen WD 4,593
(NGAS) Manual, Volume Culion Palawan WD 161
I. Dapitan City WD 39,319
Diadi WD 926
Dipolog City WD 180
Escalante WD 263
Gattaran WD 3,304
General Santos City WD 3,264
Gingoog City WD 9,997
Guiuan WD 3,939
Ifugao WD 1,979
Janiuay WD 2,057
Jaro WD 3,181
Kabacan WD 1,502
Kapalong WD 1,810
Kapatagan WD 10,950
313
Common Audit Amount
Kasibu WD 1,117
Kauswagan WD 1,729
Koronadal City WD 904
Labason WD 9,974
Lal-lo WD 1,020
Lambunao WD 3,071
Lamitan City WD 170
Lianga WD 3,886
Linamon WD 1,130
Lingayen WD 537
Lupon WD 11,457
M’lang WD 924
Maddela WD 3,053
Magsingal WD 1,434
Malungon WD 2,099
Maluso WD 369
Mambajao WD 342
Masbate-Mobo WD 189,827
Matnog WD 4,161
Nabua WD 57,136
Nabunturan WD 2,898
Naujan WD 681
New Corella WD 10,362
Oroquieta City WD 3,003
Pandan WD 352
Pilar WD 7,783
Pinamalayan WD 1,500
Pres. M.A. Roxas WD 444
Ragay WD 2,240
Ramon WD 1,003
Rosario WD 177
San Francisco WD 450
San Isidro WD 7,271
San Manuel WD 3,411
Sanchez Mira WD 21,982
Santa WD 338
Santiago WD 43,579
Sinait WD 143
Sta. Ana WD 35,931
Tagudin WD 7,100
Tubungan WD 116
Erroneous classification/ Analyze, reconcile and prepare Abuyog WD 1,265
recording/presentation/non- the necessary adjusting entries Aglipay WD 2,133
recording/inclusion of to reflect the correct balances of Balungao WD 3,595
transactions without basis/ the loans/accounts payable/ Barcelona WD 2,165
non-recognition in the customers’ deposit payable and Benito Soliven WD 270
books of loans/other related affected accounts. Butuan City WD 95,490
payables/ customers’ Cagayan de Oro WD 1,596
deposit payable/ existence Catbalogan WD 5,946
of negative Dapitan City WD 173
balances/existence of Gen. MacArthur WD 6,185
discrepancies between SL Ipil-Titay WD 598
and GL balances were Jose Panganiban WD 1,330
contrary to COA Circular Kabacan WD 448
314
Common Audit Amount
No. 2015-010, PAS 1 Lambunao WD 3,477
and/or Sections 111 and Leyte Metropolitan WD NQ
112 of P.D. 1445 resulted Leyte Metropolitan WD 1,281
in the misstatement of the Maddela WD 13,387
liability accounts, thus, Mambajao WD 776
affected the Mati WD 196
reliability/accuracy of the Metro Vigan WD 430
payable balances and the Nabua WD 265
related affected accounts. Nabunturan WD 134
Pagadian City WD 165
Pigcawayan WD 397
Sanchez Mira WD 21,175
Santa WD 383
Santiago WD 1,773,279
Silang WD 97,931
Sinait WD 553
Sta Lucia WD NQ
Sulat WD 389
Tabaco City WD 215
Taft WD 3,516
Tagkawayan WD 459
Taytay Palawan WD 181
The ledger balance of Deposit additional funds in the City of Ilagan WD 183
Customers’ Deposit bank to bring the balance in Metropolitan Tuguegarao WD 14,182
Payable account did not agreement with the Customers’ Sanchez Mira WD 202
tally with the Special Deposit received from clients
Deposit maintained for the pursuant to the provisions of the
said account contrary to Commercial Practices Manual
Commercial Practice for Local Water District.
Manual for Local Water
Districts.
Taxes Payable
Non-withholding from Comply with the BIR Abulug WD NQ
government money regulations on the withholding Angadanan WD 277
payments or non- of government money Baao WD 374
remittance/non-payment of payments; remit/pay on time Banate WD 236
various taxes the taxes withheld/tax due to Bani WD NQ
withheld/delayed/deficient the BIR to prevent incurrence Bayambang WD NQ
payment of taxes due to the of interest, penalties and Bugallon WD NQ
Bureau of Internal Revenue surcharges. Cabagan WD 435
(BIR) exposed the WD to Camarines Norte WD 129
interest, penalties and Dasol WD NQ
surcharges per applicable Donsol WD 469
BIR regulations/ Gen. Mariano Alvarez WD 604
memorandum circulars and Jose Panganiban WD NQ
the National Internal Lamitan City WD NQ
Revenue Code. Ligao City 249
Lingayen WD NQ
Maasim WD 434
Masbate-Mobo WD NQ
Merida WD NQ
Nabua WD 516
315
Common Audit Amount
Naguilian WD NQ
Ragay WD 171
Rosario WD 562
Santa WD 183
Tumauini WD 317
Leave Benefits Payable

Employees’ Benefits were a. Prepare the necessary Abuyog WDa 2,374
either or combination of adjusting entries to record Iriga City WDc NQ
the following: the accrued liability Jaro WDa 1,533
a) Insufficient or not pertaining to the earned leave Metro Hilongos WDa NQ
recognized or benefits of the employees Naval WDa 2,531
incorrectly recorded in after ensuring the correctness San Pablo City WDb 4,823
the books of the of the accumulated leave Surigao Metropolitan WDa 6,236
Expected Cost of credit balances of employees
Short-term Employee as of the end of the year;
Benefits of
Compensated b. Submit to the Accounting
Absences as of year- Unit the periodic report on
end contrary to PAS accumulated leave balances
19, Item 3.2 of the to facilitate the recognition
DBM Budget Circular of the Cost of the
No. 2002-1, and Compensated Absences
Section 1 of RA No. incurred for the current year;
101541, resulting in
the understatement of c. Provide the necessary cash
liability and reserve to ensure its
overstatement of net availability in the event of
income; the employees’ retirement;
b) Accrual of leave credit d. Strictly adhere with the

for prior years was provisions of the Philippine
erroneously debited to Accounting Standards (PAS)
expense account in recording transactions
instead of equity pertaining to employees’
account, inconsistent benefits of the Water
with Paragraph II of District; and
PAS 19, thereby,
overstating the e. Ensure that the balance of
Terminal Leave Terminal Leave Benefits
Benefits and reflected in the financial
misstating the equity; statements pertains only to
and the accrued leave credits for
the current year for proper
c) Leave balances matching of income and
appearing in the expense; and
applications for
monetization did not f. Update the Leave Cards on
tally with the balances the date the applications for
reflected in the monetization are filed to
respective Leave come up with the latest and
Cards, thereby, casting updated leave balances of
doubt on the their employees.
correctness of the
reflected earned leaves
as bases of the
316
Common Audit Amount
computation of the
claimed monetization
pay.
Surplus/Capital accounts
Misstatement of the Prepare necessary adjusting Abuyog WD 92,710

Government Equity and the entry to reflect the accurate Baguio WD 236,310
Due to Government amount of the subject account.
Corporations accounts due
to erroneous recognition of
financial assistance from
LWUA.
Revenue/Income/ Expenses accounts

Erroneous recording of Prepare the necessary adjusting Abulug WD 794
transactions resulted in the entries to reflect the accurate Aroroy WD 555
misstatement of the amount of the income/expense Batangas City WD NQ
income/ expense and other and affected accounts. Bombon WD 472
affected accounts contrary Cabagan WD 395
to PAS18/PAS 20 and Calamba WD NQ
COA Circular No. 2015- Del Gallego WD 134
010. Donsol WD 2,333
Gen. MacArthur WD 173
Iriga City WD 2,697
Isabela City WD 781
La Trinidad WD 1,310
Maddela WD 267
Metropolitan Naga WD 760
Sorsogon City WD 393
Sta. Cruz WD 236
Zamboanga City WD 142
Failure to implement Record all liabilities of the Abuyog WD 130
accrual basis of accounting District in the period they are Kabankalan City WD NQ
in recognizing expenses or incurred and adhere strictly to Manapla WD 256
failure to recognize the accrual basis of accounting. Naval WD 159
liabilities resulted in the
overstatement of income
and understatement of
liabilities accounts
Non-compliance with the a. Strictly comply with the Abulug WD NQ
pertinent provision/s of provisions of COA Circular Aleosan WD 3,775
R.A. 9184 as amended and 2009-001, R.A. 9184 and its Asuncion WD 1,209
its Revised RIRR and/or RIRR, GPPB Circular, COA Baao WD 51,605
Memorandum Order No. Circular Nos. 2009-001 and Bansalan WD 604
15 dated May 9, 96-010 in the procurement of Bato (CamSur) WD NQ
2011/requirements of the goods, services and Binalbagan WD NQ
Government Procurement infrastructure projects; Binalonan WD 570
Policy Board (GPPB) Bislig City WD NQ
Circular and/or non- b. Persons responsible should Bucay WD 961
compliance with COA be made to answer for any Bulan WD 2,000
Circular Nos. 2012-001, damage/s that were caused Cagayan de Oro WD 1,226
2009-001 and 96-010 in the due to the delayed and/or Calamba WD NQ
submission of pertinent non-delivery of the procured Candon City WD NQ
317
Common Audit Amount
documents relative to goods; Claveria WD 2,646
government contracts in Compostela WD 354
the procurement of goods c. Prepare the Annual Dasmariňas WD 110,392
and services and Procurement Plan (APP) and Davao City WD 995
infrastructure projects, and ensure that no procurement Diadi WD NQ
the creation of a Bids and shall be undertaken unless it Digos WD 15,273
Awards Committee (BAC). is in accordance with the Dipolog City WD 9,717
APP; Dolores WD 805
Donsol WD 780
d. Consolidate requisitions of Gamu WD NQ
commonly used equipment, Gattaran WD NQ
supplies and materials in Gen. Mariano Alvarez WD 25,684
their procurement process to Gingoog City WD 592
avoid splitting of contract; Gonzaga WD NQ
Hagonoy WD 1,971
e. Ensure posting of the Igacos WD 4,412
requirements in the Jaro WD NQ
PhilGEPS and in the Kabankalan City WD NQ
Agency’s websites including Kapatagan WD NQ
conspicuous places in the Kasibu WD NQ
District’s premises as Kiblawan WD 209
provided in Annex H of the La Castellana WD NQ
Revised IRR of RA 9184; Labason WD 855
and Lagangilang WD 539
Lasam WD NQ
f. Send BAC and Heads of the Leyte Metropolitan WD NQ
department/division to Lianga WD NQ
seminars/updates of RA Ligao City WD 3,230
9184 to apprise them of their Linamon WD NQ
responsibilities and the latest Luna WD NQ
guidelines and/or updates of Lupon WD 955
the Procurement Law. Manapla WD NQ
Mapandan WD 2,313
Mati WD 1,889
Merida WD NQ
Metro Ozamiz WD 977
Nabunturan WD 2,404
New Corella WD 478
Pagudpud WD 1,500
Panabo WD 2,959
Pasacao WD 370
Pozorrubio WD 384
Pulupandan WD NQ
Quezon WD 929
Reina Mercedes WD 423
Sablayan WD 3,171
San Isidro WD 1,023
San Jose (DI) WD 3,103
San Juan WD 649
Sibagat WD 355
Sipalay WD NQ
Sipocot WD 4,490
Socorro WD 123
318
Common Audit Amount
Sta. Cruz WD 14,931
Sta. Lucia WD NQ
Sta. Praxedes WD NQ
Sto.Tomas WD NQ
Surigao Metropolitan WD NQ
Tabaco City WD 2,977
Tagbina WD 623
Tagkawayan WD NQ
Tagum WD NQ
Talibon WD 300
Tanauan WD 6,738
Tanay WD 249
Tangub City WD 2,510
Tarragona WD 715
Tubod-Baroy WD 1,168
Non-compliance with the a. Start procuring common-use Aglipay WD NQ
provisions of supplies and materials from Calamba WD 10,398
Administrative Order No. the Procurement Service Catbalogan WD 687
17, DBM Circular letter pursuant to the provisions of Diadi WD NQ
Nos. 2011-04 and 2013-14 Administrative Order No. 17, Guiuan WD 242
and AO No. 46, s 2015 on DBM Circular letter Nos. Ipil-Titay WD NQ
the procurement of 2011-04 and 2013-14 and Kasibu WD NQ
common-use supplies and AO No. 46, s 2015; Labason WD NQ
materials from the Lasam WD NQ
Procurement Service (PS). b. Secure a certification that Luna WD NQ
supplies and materials are Naguilian WD NQ
not available before Pagadian City WD NQ
procuring from other Pres. M.A. Roxas WD NQ
suppliers, in cases that items San Pablo City WD 3,280
are not available from the Taft WD NQ
PS; and Tagkawayan WD 711
Tanauan WD 539
c. Procure on a quarterly basis
supplies that are regularly
needed.
Non-utilization of the Utilize the PhilGEPS in the Abulug WD NQ
PhilGEPS in the procurement activities to enable Benito Soliven WD NQ
procurement activities of to avail of the built-in Diadi WD NQ
the WD is not in efficiencies of the system and Diffun WD NQ
accordance with the promote transparency, Maddela WD NQ
pertinent provisions of AO competitiveness and Ramon WD NQ
No. 17 dated July 28, 2011 streamlined procurement of San Guillermo WD NQ
and the RIRR of R.A. common-use goods, supplies, Sta. Ana WD NQ
9184, thus depriving the materials and equipment as
district of the advantages of required under No. 17 and the
the built-in efficiencies of RIRR of R.A. 9184.
the system and defeating
the purpose for which the
law was created.
Request for Quotations and Comply with the posting of the Cauayan City WD NQ
Notice of Award of Request for Quotation and City of Ilagan WD NQ
procurement of goods with Notice of Award in the Lal-lo WD NQ
Approved Budget for the PhilGEPS as required in Roxas WD NQ
Contract (ABC) above Section 54.3 of the RIRR of
319
Common Audit Amount
P50,000 that were acquired R.A. 9184 and GPPB
through shopping or small Resolution No. 09-2009.
value procurement were
not posted at the PhilGEPS
website in contravention to
Section 54.3 of the RIRR
of R.A. 9184 and GPPB
Resolution No. 09-2009.
Non-compliance with the a. Strictly comply with the Abuyog WD NQ
provisions of the 2013 2013 NEDA JV guidelines Aparri WD NQ
NEDA Revised Guidelines and the provisions/terms of Cagayan de Oro WD NQ
and Procedures for the JV contract on entering Calinog WD NQ
Entering into Joint Venture and performance of JVA; City of Ilagan WD NQ
Agreements (JVA) Dasmariňas WD 3,254
between Government and b. Coordinate/have dialogues Iriga City WD 177,229
Private Entities or lack of with various government Lambunao WD NQ
specific guidelines on bodies like Office of the Maasin WD NQ
entering into a JVA. Also, President, NEDA, LWUA, Metro Hilongos WD NQ
there were violation of BIR, DOJ, DBM, CSC and Metro San Fernando WD NQ
provisions/terms of the JV COA for guidance to resolve Quezon Metropolitan WD NQ
contract by the JV partners. issues on JVA; and Rosales WD 108,997
San Pedro WD NQ
c. Reassume discharging the Silang WD 5,085
functions of the WD and Trece Martires WD NQ
retract from any involvement Zamboanga City WD NQ
in the implementation of the
JVA premised on its patent
nullity in the purview of P.D.
198 and R.A. 3019.
Fairness in the valuation of 1. Submit the following : Maasin WD 40,737
the contribution of the WD Metro Hilongos WD 19,504
to the JV costing cannot be a) Schedule of Inventory on
reliably determined due to hand and the cost of each
lack of adequate supporting inventory item as of the
documents and non- date of Notice to Proceed;
disclosure thereof in the
Notes to Financial b) Schedule or list of
Statements. Likewise, the inventory items and total
approved JVA failed to amount which the WD
include explicit provision deliver without cost;
on the capital expenditure
plan of the estimated total c) Inventory of the WD’s
investment. PPE contributed to the JV
including asset condition
report, a pipe network
map and assessment and
PPE maintenance report,
all certified correct for
the relevant date as of the
Notice to Proceed;
d) Acknowledgement from
the JV for the receipt of
the items/PPEs and
intends to use them in the
JV operation; and
320
Common Audit Amount
2. Consider the execution of a
supplemental contract
incorporating therein the
expenditure plan and
timetable to clarify to both
parties how much of the total
contribution should be
delivered within a particular
period.
Transactions were paid a. Ensure that all claims are Abuyog WD 484
without complete properly and completely Angadanan WD 178
supporting documentation supported with documents to Aroroy WD 233
in violation of Sections establish the correctness of Baao WD 2,500
4(6) and 124 of P.D. No. the claims pursuant to the Barcelona WD 161
1445, COA Circular 2012- pertinent provisions; and Batangas City WD 212
001 dated June 14, 2012, Calayan WD NQ
and COA Circular 2009- b. Strengthen the internal Candelaria WD 559
001. control system on Cordon WD 1,855
disbursement of the Damulog WD 214
Agency’s working fund by Donsol WD 384
adhering to laws and Escalante WD 2,098
regulations. Gen. Mariano Alvarez WD 118
Ipil-Titay WD 330
Isabela City WD 1,144
Kasibu WD 458
Maluso WD NQ
Metropolitan Cebu WD 12,847
Naguilian WD 798
Naujan WD 3,695
Odiongan WD 3,024
Pola WD 2,892
Pozorrubio WD NQ
Reina Mercedes WD 1,440
Roxas WD 8,356
San Isidro WD 3,575
Sorsogon City WD 360
Sta. Lucia WD 1,123
Tanay WD 11,152
Tumauini WD 1,475
Zamboanga WD 103
Disbursements incurred by Stop the practice of purchasing Aroroy WD 1,408
the WD on supplies, goods and services through Baao WD 620
materials and services were reimbursement basis. Strictly Donsol WD 297
made through comply with Section 93 of P.D. Masbate-Mobo WD 335
reimbursement to No. 1445.
personnel other than the
Disbursing Officer instead
of paying directly to the
supplier and/or creditors,
contrary to Section 93 of
P.D. No. 1445, thereby
321
Common Audit Amount
casting doubt on the
validity and regularity of
the transactions.
The Joint Venture Share of Submit a detailed computation Camarines Norte WD 19,000
the WD was not supported and/or evaluations as basis by Iriga City WD 13,000
with the necessary the WD in accepting the JV Maasin WD 6,500
computations and Share. Make representations Metro Hilongos WD 7,000
documents; thus, there was with PrimeWater on the
no assurance that the most possible increase of JV Share of
advantageous price and the WD.
offer for the WD were
obtained in the approved
JV.
PPE/acquired assets were: Comply with COA Circular No. Abulug WD NQ
(a) not covered; (b) not 92-390 and with the provisions Abuyog WD NQ
updated; and (c) with of R.A No. 656 and ensure that Aglipay WD NQ
delayed renewal of all insurable assets and Alcala WD 110,825
insurance with GSIS properties of the WD are Amulung WD NQ
General Insurance Fund covered by an adequate Aurora WD NQ
and the Property insurance with the General B.E Dujali WD 9,600
Replacement Fund contrary Insurance Fund, to protect the Baao WD NQ
to COA Circular No. 92- interest of the WD concerned. Baganga WD 1,098
390, and RA No. 656, as Balaoan WD 888
amended; thus, exposing Balatan WD NQ
the WD to risk of not being Balungao WD 26,231
indemnified or Banate WD 38,642
compensated in case of Batac WD 34,726
damage or loss of property Bato (CamSur) WD 10,721
due to fire, or other Baybay City WD NQ
fortuitous event/casualty. Binalbagan WD 4,964
Bombon WD 31,039
Bongao WD NQ
Borongan WD NQ
Cabusao WD NQ
Calinog WD 11,533
City of Ilagan WD 122,394
Cordon WD NQ
Culion Palawan WD 37,514
Del Gallego WD 33,111
Diadi WD NQ
Dingras WD 38,250
Escalante WD 1,622
Estancia WD 35,921
Gattaran WD NQ
Gen. Mariano Alvarez WD 238,287
Guiuan WD NQ
Ipil-Titay WD 76,702
Iriga City WD NQ
Janiuay WD 35,432
Jose Panganiban WD 37,583
Kapalong WD 6,837
Labason WD 55,015
Lamitan City WD NQ
Lasam WD NQ
Luna WD NQ
Maasin WD NQ
322
Common Audit Amount
Maddela WD NQ
Maluso WD NQ
Metropolitan Cebu WD 1,747,706
Metropolitan Naga WD NQ
Miag-ao WD 14,995
Nabua WD NQ
Naguilian WD NQ
Naval WD NQ
New Lucena WD 6,789
Pagudpud WD 31,061
Paracale WD 36,116
Pasacao WD 3,725
Pola WD 8,656
Pres. M.A. Roxas WD 26,175
Ragay WD 60,000
Ramon WD NQ
Rosales WD 103,335
Rosario WD 985
Roxas WD NQ
San Jose (DI) WD 52,258
San Manuel WD NQ
San Nicolas (Pangasinan) WD 42,638
San Pedro WD 218,807
San Quintin WD 35,818
Sanchez Mira WD NQ
Sarrat WD 14,788
Siocon WD 29,226
Sipocot WD 21,790
Socorro WD 28,294
Sogod WD NQ
Sta. Ana WD NQ
Sta. Praxedes WD NQ
Taft WD NQ
Tubungan WD 14,311
Tumauini WD NQ
Umingan WD 31,374
Villasis WD 68,102
Payment of compensation/ a. Adhere to pertinent Antipas WD 250
Additional Compensation compensation laws, rules and Aroroy WD 120
(AdCom) and Personnel regulations in the grant of Batangas City WD 8,284
Economic Relief compensation, allowances, Cagayan de Oro WD NQ
Allowance (PERA), and/or bonuses and other benefits; Candelaria WD 118
allowances and/or other Dapitan City WD 917
benefits and incentives and b. Submit documents indicating Dipolog City WD 716
Extraordinary and prior approval by the Office Gen. Mariano Alvarez WD 1,840
Miscellaneous Expenses of the President as required Ipil-Titay WD 224
(EME) to the Agency’s under P.D. No. 1597/by the Iriga City WD 100
BOT/ Governance Commission for Koronadal City WD 256
BOD/officers/employees/ Government Owned or Lamitan City WD 105
323
Common Audit Amount
Management Committees/ Controlled Corporation Manaoag WD 473
hired employees under (GCG); Mangaldan WD NQ
Contract of Services or Job Pagadian City WD 3,760
Orders were without bases/ c. Discontinue the payment of Puerto Princesa City WD 2,417
contrary to existing laws, compensation/allowances/ Sagay WD 1,927
rules and regulations benefits/incentives in the San Francisco WD 164
and/or Executive Order No. absence of legal basis/ San Manuel WD 375
181 s. 2015 of the Office of authority to grant the same. San Pablo City WD 5,989
the President or the LWUA Spocot WD 944
Memorandum Circular No. Sto. Niño WD 330
007.15 (PEI), Executive Tagaytay City WD 751
Order (EO) Nos. 248 and
298 or LWUA
009-12 (Foreign travel
DSA) for WDs, Section 4
of P.D. 1445, Republic Act
6758, DBM Corporate
Compensation Circular No.
10, Executive Order No.
65, Section 7 of Joint CSC-
COA-DBM Circular No. 1
series of 2018, and Section
42 of RA 10924 or the
General Appropriations
Act (GAA) of CY 2018
and COA Circular No.
2012-003.
Payment for Discontinue the payment of Binmaley WD 124
Representation and RATA/honorarium/per diem/ Cauayan City WD 2, 034
Transportation Allowances reimbursement of travel/ Gen. Mariano Alvarez WD 499
(RATA)/ honoraria/per communication expenses and Kabankalan City WD NQ
diem/travel reimbursement/ other reimbursable expenses/ Kolambugan WD NQ
communication expenses loyalty awards/gratuity pay in Metro Kidapawan WD 290
and other reimbursable excess of the authorized rates. Trece Martires WD 216
expenses/ Loyalty Virac WD NQ
Awards/Gratuity Pay
were either in excess of the
authorized rates due to
erroneous rate/insufficient
legal basis and/or
equivalent ranks used
contrary to existing
DBM/COA Circular/
Section 4 P.D. 1445.
Payment of Employees’ a. Discontinue the payment of Cauayan City WD 3,955
Retirement Plan/Provident the said benefit pending Labason WD 129
Fund in addition to that receipt of authority from the Metropolitan Naga WD 1,341
paid to the GSIS was DBM and ensure that all San Pablo City WD 5,619
contrary to Section 10 of payments are covered with Sta. Cruz WD 593
R.A. No. 4968 (an Act legal basis or proper Tagaytay City WD 1,348
Amending the Government authorization; and
Service Insurance Act) and
not consistent with Section b. Seek authority from the
5.3.2.2 of Budget Circular DBM for the Agency’s
No. 2008-3, Section 4 of monetary contribution to the
324
Common Audit Amount
Executive Order No. 641, Provident Fund; otherwise,
RA No. 6758 and DBM cause the refund to the
CC No. 10. Agency.
The Program on Awards Stop the practice of granting the Dipolog City WD 2,004
and Incentives for Service PRAISE/PBB incentives/ Odiongan WD 116
Excellence benefits that are not in Puerto Princesa City WD 24,187
(PRAISE)/Service accordance with prescribed Romblon WD 1,042
Incentive guidelines, laws, rules and
Pay/Performance-based regulations.
Bonus (PBB) were paid to
BOD/officers/ employees
without complying with the
guidelines/existing laws,
rules and regulations of the
CSC/DBM/LWUA/GCG.
The monthly net take home Strictly observe the General San Pablo City WD NQ
pay of some employees fell Provisions in Section 48 of Tanay WD NQ
below the statutory net pay R.A. No. 10964 pertaining to
of P5,000 per month as the required amount of net take
required under Section 48 home pay to promote an
of the R.A. No. 10964; efficient public service by
thus, defeating the general ensuring that the government
intent of the law to boost personnel has enough take
employees’ morale and home pay to support their daily
self-esteem with the end needs until the next payday.
result of promoting
efficiency and
effectiveness in
government service.
Payments for overtime a. Strictly adhere to the policies Dasmariñas WD 21,473
services were not in and guidelines on Overtime Manaoag WD 125
accordance with CSC- services and Overtime pay Roxas Palawan WD 115
DBM Joint Circular No. 1 for Government Employees
series of 2015, resulting in as prescribed in Section 10
excessive expenditures of CSC-DBM Joint Circular
while depleting scarce No. 1 series of 2015;
resources of the Water
District. b. Make sure that payments are
correctly computed and
properly supported with
complete documents; and
c. Ensure that the total

Overtime Pay of an
employee in a year shall not
exceed 50 percent of his/her
total basic salary for the
year.
Payment of monetization Observe the provisions on the Asingan WD NQ
of leave credits was made monetization of leave credits Baao WD NQ
without observing the under CSC rules and Balungao WD NQ
provisions under Sections regulations and refund the Binalbagan WD NQ
22 and 23 of Omnibus excess payment of monetization Binalonan WD NQ
Rules on Leave, Rule XVI of leave credits. Binmaley WD NQ
of the Omnibus Rules Calabanga WD NQ
325
Common Audit Amount
Implementing Book V of Dapitan City WD 249
Executive Order No. 292 Lingayen WD NQ
of the CSC, CSC Pagadian City WD NQ
Memorandum Circular No. Pilar WD 142
16 s. of 2002, the CSC- Pozorrubio WD NQ
DBM Joint Circular No. 2- San Carlos City WD NQ
27 and Section 5.14 of Tagaytay City WD 556
COA Circular No. 2012- Tanay WD 1,114
001, rendering the Urbiztondo WD NQ
propriety of paid claims
doubtful and resulting to
the audit suspension of the
expenditures.
Funds of the Agency were a. Exercise prudence and Camarines Norte WD 1,568
used to pay for: strictly adhere to the Pozorrubio WD NQ
membership fees and provisions of P.D. 1445 and San Manuel WD NQ
annual dues to various COA Circular No. 2012-003 Silang WD 145
associations; legal and in the use of government
filing fees in connection funds;
with appeals/s or motion
for reconsideration filed b. Stop charging against the
before COA; meals and WD’s funds, the legal and
snacks during meeting of other filing fees for appeals/
BAC/Management Team/ motions for reconsideration
ExeCom and other filed with COA; and require
meetings; lakbay-aral the persons identified liable
activities; advertisements; to refund said fees paid out
provision of mobile phone of Agency funds.
in excess of one unit which
expenditures were
considered to be irregular,
unnecessary or excessive
contrary per P.D. 1445,
COA Circular No. 2012-
003 and paragraph 7 of
COA Resolution No. 2013-
016 dated 23 August 2013.
Disbursements for (a) a. Avoid spending/utilization of Butuan City WD 407
invalid/irregular/unnecessa public funds for invalid/ Metro Midsayap WD 598
ry purposes; or (b) for non- irregular/unnecessary
public purpose; or (c) those purposes; and
not consistent with laws
and rules such as payment b. Strictly comply with laws,
for sponsorship of school rules and regulations and
activities, donations to always exercise prudence in
concessionaires, financial the disbursement of
assistance to various government funds to warrant
groups/ efficiency, economy and
associations/institutions effectiveness in the
will exhaust corporate operations of the
funds without any benefit government.
to the government, which
practice is contrary to COA
Circular No. 2012-003,
Administrative Order No.
103 and Sections 2 and
326
Common Audit Amount
4(2) of P.D. 1445.
Partial/delayed/non- Remit to the GSIS/HDMF/ Angadanan WD 370
remittance of contributions/ PhilHealth/NHMFC the Bombon WD 131
premiums/loan contributions/premiums/loan Bongao WD 3,677
amortizations withheld amortizations deducted from Camarines Norte WD 607
from the employees’ the compensation of employees Carmen WD 128
compensation expose the to avoid sanctions/penalties that Hamtic WD 729
agencies concerned to may be imposed for the delayed Lamitan City WD 1,267
penalties and sanctions remittance thereof. Ligao City WD 329
under existing rules and Maasim WD 1,321
regulations of GSIS/ Matnog WD 771
HDMF/PhilHealth/ Nabua WD 123
NHMFC. Pili WD 692
Rosario WD 1,753
San Isidro WD 475
Sibagat WD 782,012
Sipocot WD 114
Sulat WD 1,389
Remittance of Employer’s a. Instruct the Accounting Butuan City WD 580
contributions to Home Processor to deduct only the Dipolog City WD 181
Development Mutual Fund amount of P100 for each Pagadian City WD 318
(HDMF) was more than employee as mandatory
P100 per month per monthly contributions to
member-employee contrary HDMF. If the employees
to Section 1, Rule VI of the wish to contribute more than
Implementing Rules and P100, a separate column in
Regulations of R.A 9679; the payroll sheet should be
thus, resulting in the over- made for the additional
remittance of HDMF- contribution under MP2; and
contribution-employees’
share and government b. Stop the practice of
share. computing the employer’s
share-based on the 2% of
employees’ basic pay
without considering the
maximum monthly
compensation of P5,000 set
by the IRR and ensure that
remittances of employer’s
share are strictly in
adherence to the provisions
set under Section 1, Rule VI
of the IRR of R.A. 9679.
Titles to government land a. Expedite the titling of land Alcala WD NQ
assets or properties under the name of the Asuncion WD 160
acquired and booked under concerned WD to safeguard Baganga WD 369
the Land/Investment its interest and dispel doubts Balaoan WD NQ
Property accounts were: (a) as to the legal ownership Balungao WD NQ
not yet consolidated in the over the property; Bani WD 383
name of the concerned Bansalan WD 1,755
WD; (b) not supported by b. Initiate efforts to document Basista WD NQ
proof of ownership; and substantiate ownership Batangas City WD 12,860
resulting in doubtful over WDs assets or submit a Bayambang WD NQ
validity of the asset comprehensive updated Baybay City WD 1,039
account. report on the status of the Binmaley WD 6,372
327
Common Audit Amount
titling process; and Bugallon WD 341
Cabagan WD NQ
c. Temporarily stop further Candon City WD 300
investments for the Carmona WD NQ
improvement and Catbalogan WD 128
construction of facilities on Dagupan City WD NQ
the Land in question pending Dapitan City WD 940
its titling. Dasmariñas WD NQ
Dasol WD 100
Davao City WD 84,277
Diffun WD NQ
Digos WD 1,111
Dipolog City WD 3,665
Estancia WD 1,627
Glan WD 764
Hagonoy WD 659
Igacos WD 1,949
Jaro WD 147
Kapalong WD 131
Laguna WD 8,845
Ligao City WD 16,687
Lingayen 185
Lubang WD NQ
Lupon WD 119
Maasim WD 519
Maddela WD NQ
Malungon WD 161
Mambajao WD NQ
Manolo Fortich WD 1,004
Maramag WD 975
Mati WD 488
Metro Lipa WD 7,592
Metro Ozamiz WD NQ
Metro Vigan WD 14,477
Nabunturan WD 730
Naguilian WD 357
Narvacan WD 2,800
Odiongan WD 1,963
Oroquieta City WD 569
Panabo WD 5,806
Pres. M.A. Roxas WD 638
Rosales WD NQ
Rosario WD 100
Roxas Palawan WD 837
Roxas WD NQ
San Jose WD 604
Santa Maria WD NQ
Santiago WD NQ
Silang WD 53,454
Sinait WD 150
Sta. Cruz WD 18,156
Tagaytay City WD 14,518
Tagum WD 15,827
328
Common Audit Amount
Tanauan WD 5,195
Tanay WD 5,633
Tangub City WD 464
Umingan WD 114
Urbiztondo WD NQ
Urdaneta City WD NQ
Inadequacy of the required a. Submit/disclose the required Aroroy WD 6,005

information/records/reports information/computations/ Baao WD 2,587
and other supporting contracts and/or other Bacacay WD NQ
documents/non-submission supporting documents in Banga WD 1,190
thereof resulted in the support of the transaction/ Bato (CamSur) WD 1,234
doubtful validity of various contract/MOA pursuant to Binalbagan WD 488
transactions contrary to pertinent provisions of COA Binmaley WD 130
COA Circular Nos. 77-61, Circular Nos. 96-010 and Bislig City WD 4,567
96-010 and 2012-001 2012-001, RMC No. 2-2014 Bugallon WD 8,665
and/or Revenue and/or P.D. No. 1445; and Butuan City WD 190,762
Memorandum Circular Candelaria WD 22,913
(RMC) No. 2-2014, and b. Strictly scrutinize all Dapitan City WD 675
Section 4(6) and 111 of PD transactions for payment Donsol WD 563
1445, LWUA MC No. 015- whether these conform with Ipil-Titay WD 138
12 and 016-16. existing laws, rules and Isabela City WD 1,956
regulations, and whether Kabankalan City WD NQ
these transactions are Lagangilang WD 1,295
properly documented to Ligao City WD 8,150
establish validity of claims. Lingayen WD 180
Matnog WD 840
Metropolitan Naga WD 323
New Lucena WD NQ
Pasacao WD 245
Polomolok WD 960
Tupi WD 170
Delayed or non- a. Evaluate the cause of Balatan WD NQ
submission/ non- delayed preparation/ Balungao WD NQ
preparation of Financial submission or non- Banga WD NQ
Statements/documents/SLs/ submission and immediately Batangas City WD NQ
reports including Journal submit the financial reports/ Bayambang WD NQ
Entry Vouchers (JEVs), JEVs/DVs/BUR to the COA Bongao WD NQ
Registry of Budget Auditors; Borongan WD NQ
Utilization and Cabusao WD NQ
Disbursement/ Budget b. Prepare and submit the final Candon City WD NQ
Utilization Request (BUR) and complete set of financial Catbalogan WD NQ
and Status/DVs/ books of statements together with all Compostela WD NQ
accounts within the relevant supporting Damulog WD NQ
prescribed period contrary schedules/documents in Dasol WD NQ
to Sections 41, 100 and 122 accordance with pertinent Donsol WD NQ
of P.D. 1445; Note 8, provisions of P.D. 1445/ Guiuan WD NQ
Sections 57, 71 and 81 of MNGAS and COA Hernani WD NQ
the Manual on the New Accounting Circular Nos. Kalamansig WD NQ
Government Accounting 2015-004 and 2017-004; and Kapatagan WD NQ
System (MNGAS) Volume Kolambugan WD NQ
I, COA Circular Nos. c. Include in the performance La Castellana WD NQ
2009-006 and 95-006, and indicators of the personnel Lasam WD NQ
90-331 COA Accounting concerned, the submission of Lebak WD NQ
329
Common Audit Amount
Circular Nos. 2015-004 reports to COA within the Linamon WD NQ
and 2018-004. prescribed deadlines. Lubang WD NQ
Luna WD NQ
Maasin WD NQ
Magsingal WD NQ
Masbate-Mobo WD NQ
Metro Vigan WD NQ
Narvacan WD NQ
Norala WD NQ
Oras WD NQ
Pili WD NQ
Polomolok WD NQ
Quezon Metropolitan WD NQ
Ragay WD 2,510
Rosales WD NQ
Santa WD NQ
Sibagat WD NQ
Sinait WD NQ
Siocon WD NQ
Sipalay WD NQ
Sta. Lucia WD NQ
Sto. Niño WD NQ
Sulat WD NQ
Sultan Kudarat WD NQ
Surallah WD NQ
Taft WD NQ
Tagudin WD NQ
Tupi WD NQ
The WD did not maintain Maintain General Ledger and Abulug WD NQ
General Ledger and Subsidiary Ledgers pursuant to Kasibu WD NQ
Subsidiary Ledger to Sections 111 and 112 of P.D. Laguna WD NQ
record its financial No. 1445. Sta. Ana WD NQ
transactions, which are
necessary for the
preparation of its Financial
Statements, contrary
Sections 111 and 112 of
P.D. No. 1445.
Disbursement vouchers and Instruct the Cashier that all paid Aurora WD NQ
their supporting documents disbursement vouchers and its Gamu WD NQ
were not stamped with supporting documents be Kasibu WD NQ
“PAID” and dated by the properly stamped with “PAID” Naguilian WD NQ
Cashier, contrary to COA and dated as to payment, in San Guillermo WD NQ
Circular No. 92-389 dated compliance with COA Circular
November 3, 1992 and the No. 92-389 and PGIAM.
Philippine Government
Internal Audit Manual
(PGIAM); thus, exposing
the documents to risk of
reuse to support another
claim.
330
Common Audit Amount
Accountable Officers were Comply strictly with Treasury Aleosan WD NQ
not bonded/not adequately Circular No. 02-2009 governing Aroroy WD NQ
bonded/with expired and the bonding of accountable Balaoan WD NQ
not renewed Fidelity officers to protect the interest of Baras WD NQ
bond/with bond renewed the WD. Bato (Catanduanes) WD NQ
after the expiration of the Butuan City WD NQ
term of the bond; thus, Cabusao WD NQ
exposing government funds Candelaria WD NQ
to risk of possible loss, Carmona WD NQ
contrary to Section 101 of Casiguran WD NQ
P.D. 1445 and Sections 4.1, Compostela WD NQ
4.3.3 and 5.1 of Treasury Dasmariňas WD NQ
Circular No. 02-2009 dated Dasol WD NQ
6 August 2009. Gattaran WD NQ
Gen. Mariano Alvarez WD NQ
Jaro WD NQ
Kasibu WD NQ
Kauswagan WD NQ
Laguna WD NQ
Lasam WD NQ
Linamon WD NQ
Luna WD NQ
Magsingal WD NQ
Mangaldan WD NQ
Matnog WD NQ
Naguilian WD NQ
Narvacan WD NQ
Pigcawayan WD NQ
Pozorrubio WD NQ
Quezon Metropolitan WD NQ
San Isidro WD NQ
San Pablo City WD NQ
San Pedro WD NQ
Santa WD NQ
Sinait WD NQ
Sorsogon City WD NQ
Sta. Lucia WD NQ
Sta. Praxedes WD NQ
Sto.Tomas WD NQ
Tagudin WD NQ
Tanauan WD NQ
Tanay WD NQ
Tarragona WD NQ
Tubod-Baroy WD NQ
Urbiztondo WD NQ
Non-compliance with the a. Recognize in the books of Abuyog WD 186
COA Order of Execution accounts the amount of Balungao WD 16,710
(COEs)/Notice of disallowances on which Guiuan WD 1,302
Disallowance/Notice of COEs was already received Pili WD 1,090
Suspension is contrary to by Water Districts; Rosales WD 5,547
COA Circular 2009-006 Sipocot WD 788
dated September 15, 2009. b. Exert efforts in the Sogod WD 1,864
enforcement of the COEs Sultan Kudarat WD 375
issued to persons determined
331
Common Audit Amount
liable over audit
disallowances that have
become final and executory;
and
c. Submit all summary lists of

settlements of disallowances
completely supported with
evidence as basis in
preparation of Notice of
Settlement Suspension/
Disallowance/Charge in
compliance with the Rules
and Regulations on
Settlement of Accounts.
Accountable forms used a. Comply with the existing Balatan WD NQ
were not printed by laws and regulations in the Belison WD NQ
Recognized Government purchasing of accountable Borongan WD NQ
Printers (RGPs) contrary to forms; Cabagan WD NQ
the provisions of GPPB Cabusao WD NQ
Resolution No. 05-2010; b. Stop procuring Official Del Gallego WD NQ
LWUA Memorandum Receipts from private Jose Panganiban WD NQ
Circular Nos. 009-16, 013- printers, the printing of Lal-lo WD NQ
16, 010-17; Executive which has no prior written Linamon WD NQ
Order (EO) No. 285 , series waiver from the National New Lucena WD NQ
of 1987, National Printing Printing Office; and Oras WD NQ
Office (NPO) Paracale WD NQ
Memorandum Circular No. c. As an alternative, use San Guillermo WD NQ
1-04 and Section 4 of Accountable Form No. 51 Sipocot WD NQ
Memorandum Circular No. which applies to all types of Sta. Ana WD NQ
180 dated August 13, 2009 collections. Sulat WD NQ
issued by the Office of the Taft WD NQ
President, which may be Tulunan WD NQ
disadvantageous to the
government as it could
hinder the examination as
to accuracy, propriety and
validity of official receipts
used.
Expired/damaged/obsolete Immediately dispose the Bacacay WD NQ

Accountable Forms which expired and damaged Daraga WD NQ
are no longer used in the accountable forms in Tabaco City WD NQ
operations still form part of compliance with the
the accountability and regulations.
remained idle in the WD’s
office for more than a year
contrary to Section 79 of
P.D. No. 1445.
Water District incurred net Make new realistic strategies Babatngon WD NQ
loss due to a decrease in in order to realize a net income Gen. MacArthur NQ
the number of active in succeeding years by: Merida WD 149
concessionaires as a result Sulat WD NQ
of increase in a. Adopting measures to
disconnection/ increase in increase sales;
332
Common Audit Amount
interest expense; thus, b. Taking effective
casting doubt on the Water collection strategies;
District ability to continue
as a going concern c. Exercising economy in
the use of government
resources;
d. Taking the necessary

measures to minimize the
procurement and
consumption of water
supplied to reduce losses;
and
e. Coordinating with the

Local Water Utilities
Administration on the
requirements for a
reasonable increase in
water rates considering
the higher cost of
purchased water.
The Memorandum of a. Make a formal representation Babatngon WD 11,033
Agreement (MOA) with LWUA for the Metro Carigara WD 5,140
between the Water District submission of the supporting
and LWUA for the supply documents, LWUA-
of water needs is not prepared/approved Detailed
supported with the detailed POW and technical
LWUA-prepared/approved specifications for the supply
Program of Work (POW); of water, in strict adherence
thus, the implementation of to Annex A of the
the project in accordance Implementing Rules and
with the Detailed POW Regulations of R.A. No.
cannot be ascertained/or 9184, and submit the
MOA between Water documents to the Audit
Districts for the conduct of Team; and
bidding of the Project on
WD Water Supply System b. Submit for review the MOA
remained unsubmitted between the WDs and
despite demand, contrary to LWUA for the conduct of
Section 7.3.3 of the 2016 bidding of the Project WD
IRR of R.A. No. 9184. Water Supply System.
Non-compliance with the a. Comply with the provisions Baguio WDa NQ

provisions of CSC-COA- of CSC-COA-DBM Joint Calabanga WDd NQ
DBM Joint Circular No. 1 Circular No. 1 s. 2018 dated Carmen WDc 413
s. 2018 dated June 15, June 15, 2018; Catbalogan WDb 3,602
2018 and COA Circular La Trinidad WDa NQ
No. 2015-010 dated b. Observe the limitations in the Nabua WDe NQ
December 01, 2015 due to hiring of job order workers Placer WDc 1,087
any or combination of the to exclude tasks which are San Juan WDa NQ
following: regular agency functions and
a. Personnel were hired on are part of the job description
a contract of service/Job of existing regular
Order basis to do field employees;
works which are
333
Common Audit Amount
considered necessary c. Expedite the hiring process
and essential to the to fill the vacant positions
conduct of the regular giving priority to existing job
functions of Water order workers who meet the
Districts. Further, the appropriate eligibility and
filling up of vacant other qualification
plantilla positions requirements;
which covers the
functions being d. In view of the material
performed by the Job number of vacancies which
Orders, was not remain unfilled and
instituted; unpublished, consider the
review of the District’s
b. No Service Contract/ organizational structure and
Memorandum of determine the
Agreement/Job Order appropriateness of position
was executed between allocation/manpower
the Water District and complement in each
the individual Department vis-à-vis the
employees hired on a programs and activities to be
job order status; accomplished by each
Department of the District;
c. Erroneous recording/
misclassification of the e. Ensure that appropriations
wages of Job Order for the salaries of Job Order
personnel in the books personnel be under the
of accounts resulted in Maintenance and Other
doubtful validity of the Operating Expenses in the
affected accounts; Annual Corporate Operating
Budget of the District, as
d. Rates paid to Job Order required under CSC-COA-
personnel were DBM Joint Circular No. 1, s.
inadequate in violation 2017; and
of CSC-COA-DBM
Joint Circular No. 1 s. f. Record the wages and
2018 therefore, their overtime pay of Job Order
welfare was not personnel to the proper
supported; and expenses accounts in
e. Service Contract entered Operating Expenses as
into by the WD was for prescribed under COA
an indefinite period. Circular 2015-010.
Disbursements pertaining Record all transactions in the Dagupan City WD 2,639

to prior year’s (PY’s) proper accounting period and Narvacan WD 394
expenditures were charged stop the practice of charging San Manuel WD 371
against the Current Year’s payment of PY’s expenses out
(CY’s) appropriation of CY’s appropriation.
contrary to the provisions
of P.D. 1445, Section. 32
Chapter 5 Book 6 of EO
292 and other pertinent
rules.
334
Common Audit Amount
Gender And Development (GAD) Plans And Programs

Non-compliance/partial a. Comply with the provisions Abulug WD NQ
compliance with the of: R.A. 9710, its IRR; the Alaminos City WD NQ
requirements of R.A. 9710 PCW, NEDA and DBM Alcala WD NQ
or the “Magna Carta for Joint Circular No. 2012-01; Aleosan WD NQ
Women” and its IRR; as PPGD 1995-2025; and Angadanan WD NQ
well as with Joint Circular Section 30 of GAA for FY Antipas WD NQ
No. 2012-01 of the 2018, in connection with the Asingan WD NQ
Philippine Commission on proper implementation of Baao WD NQ
Women (PCW), NEDA GAD plans and programs; Bacacay WD NQ
and DBM; Philippine Plan Bacolod WD NQ
for Gender-Responsive b. Formulate/prepare/Annual Baguio WD NQ
Development (PPGD) GAD Plans and Balaoan WD NQ
1995-2025; and Section 30 Accomplishment Reports in Balatan WD NQ
of GAA for FY 2018, compliance with EO 273 and Balungao WD NQ
relative to the activities on Joint Circular No. 2012-01 Banate WD NQ
GAD. and include GAD concerns Banaue WD NQ
in the Corporate Operating Banga WD NQ
Budget; Bangui WD NQ
Bani WD NQ
c. Implement the GAD Basista WD NQ
activities, programs and Batac WD NQ
projects that will promote Batangas City WD 2,070
awareness of the rights of Bato (CamSur) WD NQ
every employee; Bayambang WD NQ
Baybay City WD NQ
d. Design and install an Belison WD 120
effective monitoring system Binalonan WD NQ
to ensure that all identified Binmaley WD NQ
program/activities/projects Bombon WD NQ
due for implementation will Bongao WD NQ
be fully and timely Bucay WD NQ
undertaken; Buenavista WD 575
Bugallon WD NQ
e. Stop the practice of charging Bugasong WD 251
expenses to GAD Budget Bunawan WD NQ
which is not GAD related Butuan City WD NQ
activities and those not Cabusao WD NQ
included in the GAD Plan Cagayan de Oro WD NQ
and Budget; Calabanga WD NQ
Calamba WD 43,615
f. Conduct gender analysis of Calinog WD NQ
projects, policies and Camalig WD NQ
activities and review/ Candon City WD NQ
maintain sex disaggregated Carmen WD NQ
data before formulating Cauayan City WD NQ
GAD Plan and Budget; Cordon WD NQ
Culion Palawan WD NQ
g. Instruct the GAD Committee Dagupan City WD NQ
to attend trainings to enhance Dalaguete WD NQ
their knowledge on gender Daraga WD NQ
analysis in order to come-up Dasmariñas WD 29,342
with gender responsive a Dasol WD NQ
Plan; and Del Gallego WD NQ
Diadi WD NQ
335
Common Audit Amount
h. Create Focal Point System Dingras WD NQ
that would lead in Dolores WD NQ
mainstreaming gender plans Estancia WD NQ
and activities. Gattaran WD NQ
Gingoog City WD NQ
Glan WD NQ
Hamtic WD NQ
Ifugao WD NQ
Ilocos Norte WD NQ
Iriga City WD NQ
Janiuay WD NQ
Jaro WD NQ
Jordan WD NQ
Jose Panganiban WD NQ
Kapalong WD NQ
Kapatagan WD NQ
Kasibu WD NQ
Kauswagan WD NQ
Kolambugan WD NQ
La Trinidad WD NQ
Lagangilang WD NQ
Laguna WD NQ
Lambunao WD NQ
Lasam WD NQ
Lianga WD NQ
Libmanan WD NQ
Linamon WD NQ
Lingayen WD NQ
Luna WD NQ
M’lang WD NQ
Maasim WD NQ
Maasin WD NQ
Maddela WD NQ
Magsingal WD NQ
Malaybalay City WD NQ
Malungon WD NQ
Mambajao WD NQ
Manaoag WD NQ
Manapla WD NQ
Mangaldan WD NQ
Manolo Fortich WD NQ
Maramag WD NQ
Matnog WD NQ
Merida WD NQ
Metro Cotabato WD NQ
Metro Kidapawan WD NQ
Metro Lipa WD 400
Metro Midsayap WD NQ
Metro Ozamiz WD NQ
Metro Vigan WD NQ
Metropolitan Cebu WD NQ
Miag-ao WD NQ
Nabua WD NQ
Naguilian WD NQ
336
Common Audit Amount
Narvacan WD NQ
Naujan WD 395
Naval WD NQ
New Lucena WD NQ
Nueva Valencia WD NQ
Odiongan WD NQ
Oroquieta City WD NQ
Pagudpud WD NQ
Paracale WD NQ
Pasacao WD NQ
Pigcawayan WD NQ
Pikit WD NQ
Pili WD NQ
Pinamalayan WD NQ
Placer WD NQ
Pola WD NQ
Pozorrubio WD NQ
Puerto Princesa City WD NQ
Pulupandan WD NQ
Quezon Metropolitan WD 18,702
Quezon WD NQ
Ragay WD NQ
Romblon WD NQ
Rosales WD NQ
Rosario WD NQ
Roxas Palawan WD NQ
Sablayan WD NQ
San Guillermo WD NQ
San Jose ( DI) WD NQ
San Jose WD NQ
San Juan WD NQ
San Manuel (Isabela) WD NQ
San Manuel (Pangasinan) WD NQ
San Pedro WD NQ
San Quintin WD NQ
Santa Maria WD NQ
Santa WD NQ
Sarrat WD NQ
Sinait WD NQ
Sipocot WD NQ
Sogod WD NQ
Sorsogon City WD NQ
Sta. Cruz WD 2,395
Sta. Lucia WD NQ
Sta. Praxedes WD NQ
Sto. Niño WD NQ
Sto.Tomas WD NQ
Tagaytay City WD NQ
Tagbina WD NQ
Tagudin WD NQ
Talibon WD NQ
Talisayan WD NQ
Tanauan WD NQ
337
Common Audit Amount
Tandag City WD NQ
Tangub City WD NQ
Taytay Palawan WD NQ
Toledo City WD NQ
Tubungan WD NQ
Tulunan WD NQ
Tumauini WD NQ
Tupi WD NQ
Umingan WD NQ
Urbiztondo WD NQ
Urdaneta City WD NQ
Viga WD NQ
Disaster Risk Reduction and Management System

Non-development of a. Develop action plans and Abuyog WD NQ
policies and plans/non- adopt necessary measures to Aglipay WD NQ
appropriation of funds mitigate the adverse effects Alaminos City WD NQ
for/non-implementation of of natural disasters; Alcala WD NQ
the Disaster Risk Asingan WD NQ
Reduction and b. Appropriate funds relative to Aurora WD NQ
Management (DRRM) DRRM/strictly adhere to the Bacacay WD NQ
System were contrary to provisions of R.A. No. Bacolod WD NQ
R.A. No. 10121, or the 10121; Balaoan WD NQ
Philippine Risk Reduction Balungao WD NQ
and Management Act of c. Fast track the approval of the Banate WD NQ
2010, Section 38 of the Water Safety Plan and Banga WD NQ
General Provisions of the implement a comprehensive, Bani WD NQ
GAA of CY 2015 and efficient and responsive Bayambang WD NQ
Section 35 of the General disaster risk reduction and Baybay City WD NQ
Provisions of the GAA of climate change adaptation Binmaley WD NQ
FY 2018, and LWUA program within the context Bislig City WD NQ
Memorandum Circular No. of the District’s mandate; Bombon WD NQ
009-15 dated August 26, Buenavista WD NQ
2015. d. Integrate and mainstream Bugallon WD NQ
disaster risk reduction Bugasong WD NQ
management and climate Bunawan WD NQ
change adaptation in policy Butuan City WD NQ
formulation, planning and Calabanga WD NQ
budgeting; and Calinog WD NQ
Camalig WD NQ
e. Attend trainings/seminars on Candelaria WD NQ
disaster risk reduction to Carmen WD NQ
come up with viable projects Casiguran WD NQ
that would address the issue Cordon WD NQ
at hand and create such plans Dagupan City WD NQ
that would mitigate the Dasol WD NQ
adverse effect of climate Del Gallego WD NQ
change on the environment Diadi WD NQ
in compliance with Section Estancia WD NQ
35 of the GAA for FY 2018. Guiuan WD NQ
Ipil-Titay WD NQ
Isabela City WD NQ
Janiuay WD NQ
Jaro WD NQ
Jordan WD NQ
338
Common Audit Amount
Kabacan WD NQ
Kasibu WD NQ
Kolambugan WD NQ
La Castellana WD NQ
Labason WD NQ
Lambunao WD NQ
Legazpi City NQ
Lianga WD NQ
Ligao City WD NQ
Lingayen WD NQ
Luna WD NQ
M’lang WD NQ
Maasin WD NQ
Maddela WD NQ
Mambajao WD NQ
Mangaldan WD NQ
Matnog WD NQ
Metro Tayug WD NQ
Miag-ao WD NQ
Naguilian WD NQ
Naujan WD NQ
Naval WD NQ
New Lucena WD NQ
Odiongan WD NQ
Pagadian City WD NQ
Pikit WD NQ
Pili WD NQ
Pinamalayan WD NQ
Placer WD NQ
Pola WD NQ
Ragay WD NQ
Ramon WD NQ
Romblon WD NQ
Rosales WD NQ
Rosario WD NQ
San Jose ( DI) WD NQ
San Manuel WD NQ
San Quintin WD NQ
Santa Maria WD NQ
Sibagat WD NQ
Siocon WD NQ
Sogod WD 1,531
Sto. Niño WD NQ
Sto.Tomas WD NQ
Tagbina WD NQ
Tagkawayan WD NQ
Talisayan WD NQ
Tandag City WD NQ
Tubungan WD NQ
Tulunan WD NQ
Tupi WD NQ
339
Common Audit Amount
Umingan WD NQ
Urbiztondo WD NQ
Urdaneta City WD NQ
The following are the favorable/positive observations noted by the Audit Teams for CY 2018:
FAVORABLE/POS ITIVE OBSERVATIONS
The Water District religiously complied with tax laws and Alcala WD NQ
regulations of the Bureau of Internal Revenue and remitted Alicia WD NQ
taxes withheld in CY 2018. Aparri WD NQ
Aurora WD NQ
Baguio WD NQ
Balungao WD NQ
Banaue WD NQ
Batac WD NQ
Batangas City WD NQ
Benito Soliven WD NQ
Bislig City WD 4,104
Bunawan WD 265
Butuan City WD 19,473
Carmen WD 340
Carmona WD 393
Claveria WD NQ
Dasmariňas WD 5,616
Dingras WD NQ
Gonzaga WD NQ
Ilocos Norte WD NQ
Lianga WD 661
Maddela WD NQ
Mangaldan WD NQ
Mapandan WD NQ
Metro Lipa WD NQ
Metro Tayug WD NQ
Metropolitan Tuguegarao WD NQ
Nasipit WD 869
Pagudpud WD NQ
Paracale WD NQ
Peñablanca WD NQ
Placer WD NQ
Pozorrubio WD NQ
Ramon WD NQ
Rosales WD NQ
Roxas Palawan WD NQ
Roxas WD NQ
Sablayan WD NQ
San Francisco WD 4,158
San Guillermo WD NQ
San Jose WD NQ
San Manuel (Isabela) WD NQ
San Manuel (Pangasinan) WD NQ
340
Common Audit Amount
San Quintin WD NQ
Sanchez Mira WD NQ
Santa Maria WD NQ
Santiago WD NQ
Sarrat WD NQ
Silang WD NQ
Socorro WD NQ
Sta. Cruz WD NQ
Tagbina WD 501
Tagkawayan WD NQ
Taytay Palawan WD NQ
Umingan WD NQ
Urdaneta City WD NQ
Villasis WD NQ
For CY 2018, the WD has complied with the timely remittance Bacacay WD NQ
of taxes to BIR and mandatory premiums to GSIS in Baras WD NQ
accordance with R.A. No. 8291. Bato (CamSur) WD NQ
Bulan WD NQ
Calabanga WD NQ
Camalig WD NQ
Del Gallego WD NQ
Gubat WD NQ
Iriga City WD NQ
Irosin WD NQ
Legazpi City NQ
Maasin WD NQ
San Andres WD NQ
Tabaco City WD NQ
Viga WD NQ
Virac WD NQ
The WD has complied with R.A. 9679 (HDMF Law) and 7875 Bacacay WD NQ
(PhilHealth Act) on the deduction and remittance of mandatory Baras WD NQ
contributions. Bato (CamSur) WD NQ
Bato (Catanduanes) WD NQ
Bulan WD NQ
Calabanga WD NQ
Camalig WD NQ
Del Gallego WD NQ
Gubat WD NQ
Iriga City WD NQ
Irosin WD NQ
Legazpi City NQ
Pandan WD NQ
Paracale WD NQ
San Andres WD NQ
Sorsogon City WD NQ
Tabaco City WD NQ
Viga WD NQ
Virac WD NQ
341
Common Audit Amount
The WD was able to allocate at least 5% of its total budget to Baybay WD NQ
integrate GAD activities in its Program, Projects and Activities Bulan WD NQ
(PPAs); implement various activities; and submit the Annual Camarines Norte WD NQ
GAD Plan and Budget (GPB) for review of the Local Water Irosin WD NQ
Utilities Administration (LWUA) in compliance with the Legazpi City NQ
Philippine Commission on Women (PCW), National San Pablo City WD NQ
Development Authority (NEDA) and Department of Budget Sogod WD NQ
and Management (DBM) Joint Circular No. 2012-01 and PCW Tabaco City WD NQ
Memorandum No. 2016-06.
The WD has complied with the R.A. 656 (Property Insurance Alicia WD NQ
Law) on insuring government properties with the GSIS. Angadanan WD NQ
Aparri WD NQ
Batangas City WD NQ
Cabagan WD NQ
Calabanga WD NQ
Camarines Norte WD NQ
Claveria WD NQ
Diffun WD NQ
Lal-lo WD NQ
Peñablanca WD NQ
San Guillermo WD NQ
Santiago WD NQ
Sta. Cruz WD NQ
The WD has complied with the 30 percent acceptable level of Abulug WD NQ
Non-Revenue Water (NRW) prescribed by Local Water Amulung WD NQ
Utilities Administration (LWUA) as required under LWUA Asingan WD NQ
Resolution No. 444, series of 2009 and LWUA Memorandum Basista WD NQ
Circular No. 004-10. Batac WD NQ
Binmaley WD NQ
Diffun WD NQ
Dingras WD NQ
Dipolog City WD NQ
Ipil-Titay WD NQ
Isabela City WD NQ
Labason WD NQ
Lal-lo WD NQ
Maddela WD NQ
Mangaldan WD NQ
Mapandan WD NQ
Pagadian City WD NQ
Pagudpud WD NQ
Pozorrubio WD NQ
San Manuel WD NQ
Sarrat WD NQ
Sto.Tomas WD NQ
The WD was able to create and implement Water Safety Plan Abulug WD NQ
in compliance with Department of Health (DOH) Amulung WD NQ
Administrative Order (AO) No. 2014-0027 and Local Water Aparri WD NQ
342
Common Audit Amount
Utilities Administration (LWUA) Memorandum Circular (MC) Cabagan WD NQ
No. 010.14. Camarines Norte WD NQ
Cordon WD NQ
Del Gallego WD NQ
Diffun WD NQ
Jose Panganiban WD NQ
Kasibu WD NQ
Lal-lo WD NQ
Legazpi City NQ
Libmanan WD NQ
Maddela WD NQ
Malaybalay City WD NQ
Manolo Fortich WD NQ
Peñablanca WD NQ
Pili WD NQ
Roxas WD NQ
Santiago WD NQ
Tanauan WD NQ
The WD has prepared a GAD Plan and Budget for GAD Alicia WD NQ
activities and has incurred expenses for the implementation of Amulung WD NQ
the identified activities included in the GAD plan, in Aparri WD NQ
compliance with the General Provisions of the General Aurora WD NQ
Appropriations Act for FY 2018, particularly Section 30 Benito Soliven WD NQ
thereof. Cabagan WD NQ
Diffun WD NQ
Gonzaga WD NQ
Lal-lo WD NQ
Naguilian WD NQ
Peñablanca WD NQ
Ramon WD NQ
Roxas WD NQ
Sanchez Mira WD NQ
Santiago WD NQ
The WD has complied with the proper bonding of its Abulug WD NQ
Accountable Officers for government funds and property in Aglipay WD NQ
compliance with Treasury Circular No. 02-2009 dated August Amulung WD NQ
6, 2009. Angadanan WD NQ
Aparri WD NQ
Aurora WD NQ
Cabagan WD NQ
Claveria WD NQ
Cordon WD NQ
Diadi WD NQ
Diffun WD NQ
Lal-lo WD NQ
Maddela WD NQ
Peñablanca WD NQ
Ramon WD NQ
343
Common Audit Amount
Roxas WD NQ
San Guillermo WD NQ
Sanchez Mira WD NQ
Santiago WD NQ
Sta. Ana WD NQ
The WD has maintained all its accounts with Authorized Abulug WD NQ
Government Depository Bank in compliance with DOF Aglipay WD NQ
Department Circular No. 01-2017; DOF DC 002-2016 in Amulung WD NQ
relation to DOF DC No. 01-2015. Angadanan WD NQ
Aparri WD NQ
Aurora WD NQ
Cabagan WD NQ
Claveria WD NQ
Cordon WD NQ
Diffun WD NQ
Gonzaga WD NQ
Luna WD NQ
Maddela WD NQ
Peñablanca WD NQ
Ramon WD NQ
San Guillermo WD NQ
Sanchez Mira WD NQ
Santiago WD NQ
The WD has complied with the provisions of R.A. 9184 in the Angadanan WD NQ
conduct of their procurement activities. Aurora WD NQ
Cabagan WD NQ
Santiago WD NQ
Tumauini WD NQ
The WD has designed plans/projects and/or coordinated with Alicia WD NQ
other Government Agencies' related activities on disaster risk Angadanan WD NQ
reduction, in compliance with Section 35 of General Benito Soliven WD NQ
Appropriations Act for FY 2018. Cabagan WD NQ
Claveria WD NQ
Diffun WD NQ
Naguilian WD NQ
Roxas WD NQ
San Guillermo WD NQ
Santiago WD NQ
Tumauini WD NQ
The WD has complied with existing rules and regulations on Abulug WD NQ
the payment of allowances, benefits and emoluments including Aglipay WD NQ
propriety of the grant of allowances and benefits to the Angadanan WD NQ
governing board and/or district officials/employees. Aurora WD NQ
Cabagan WD NQ
Claveria WD NQ
Cordon WD NQ
Diadi WD NQ
Diffun WD NQ
Gonzaga WD NQ
344
Common Audit Amount
Kasibu WD NQ
Luna WD NQ
Maddela WD NQ
Ramon WD NQ
Roxas WD NQ
San Guillermo WD NQ
Sanchez Mira WD NQ
Santiago WD NQ
Sta. Ana WD NQ
The WD has expended within the approved Corporate Abulug WD NQ
Operating Budget and/or submitted their Corporate Operating Aurora WD NQ
Budget in the Department of Budget and Management. City of Ilagan WD NQ
Luna WD NQ
Santiago WD NQ
The WD has complied with the rules on the proper deductions Abulug WD NQ
of GSIS/Pag-IBIG/PhilHealth premiums from the salaries of Aglipay WD NQ
employees and the timely remittances of these premiums to the Alaminos City WD NQ
GSIS, Pag-IBIG and PhilHealth in accordance with R.A. Nos. Alcala WD NQ
8291, 9679 and 7875, respectively. Alicia WD NQ
Amulung WD NQ
Aparri WD NQ
Aurora WD NQ
Baguio WD NQ
Balungao WD NQ
Banaue WD NQ
Batangas City WD NQ
Bislig City WD 8,447
Butuan City WD 14,520
Cabagan WD NQ
Carmen WD 539
Carmona WD 458
Claveria WD NQ
Cordon WD NQ
Dasmariňas WD 3,139
Diadi WD NQ
Diffun WD NQ
Gattaran WD NQ
Gen. Mariano Alvarez WD 115
Laguna WD NQ
Lal-lo WD NQ
Lianga WD 1,230
Luna WD NQ
Maddela WD NQ
Metro Lipa WD NQ
Metro Tayug WD NQ
Naguilian WD NQ
Nasipit WD 3,548
Peñablanca WD NQ
Ramon WD NQ
345
Common Audit Amount
Rosales WD NQ
Roxas Palawan WD NQ
Roxas WD NQ
Sablayan WD NQ
San Guillermo WD NQ
San Jose WD NQ
San Manuel WD NQ
San Quintin WD NQ
Sanchez Mira WD NQ
Santa Maria WD NQ
Santiago WD NQ
Silang WD NQ
Sta. Ana WD NQ
Sta. Cruz WD NQ
Tagkawayan WD NQ
Tumauini WD NQ
Umingan WD NQ
Urdaneta City WD NQ
Villasis WD NQ
The WD was able to pay its loan amortization regularly and Sablayan WD NQ
maintain good liquidity position as of year-end. San Jose WD NQ
The WD has complied with the requirement of R.A. No. 9994 Bislig City WD NQ
or the Expanded Senior Citizens Act by granting five percent Bunawan WD NQ
discount to water bills of concessionaires who are senior Butuan City WD NQ
citizens. Carmen WD NQ
Lianga WD NQ
Nasipit NQ
Placer WD NQ
San Francisco WD NQ
San Jose (DI) WD NQ
Sibagat WD NQ
Socorro WD NQ
Tagbina WD NQ
Tandag City WD NQ
The WD has complied with the minimum frequency of Dapitan City WD NQ
sampling of drinking-water supply for microbiological Labason WD NQ
examination, physical and chemical analysis; and compliance
of the water samples with the PNSDW of 2017 as provided in
DOH AO No. 2017-10.
The WD has improved its collection efficiency and/or Dipolog City WD NQ
registered a collection efficiency greater or equal to the 90% Ipil-Titay WD NQ
benchmark set by the LWUA in its MC No. 011-18. Isabela City WD NQ
Labason WD NQ
Pagadian City WD NQ
The WD has promptly submitted for review its monthly Gen. MacArthur WD NQ
financial statements, reports and transaction documents for CY
2018 and 2017.
346
Note: Numbers/letters in superscripts refer to the finding on the leftmost side
Suspensions, Disallowances and Charges
In line with COA Circular No. 2009-006, dated September 15, 2009, “Prescribing the Use of
the Rules and Regulations on Settlement of Accounts,” the Auditor shall prepare and issue a
Notice of Suspension/Notice of Disallowance/Notice of Charge for the differences/variances
and other audit exceptions resulting in the audit of the accounts and transactions of the
auditees, the definitions of which are presented below:
NOTICE OF NOTICE OF NOTICE OF

SUSPENSION (NS) DISALLOWANCE (ND) CHARGE (NC)
- issued for transactions of - issued for transactions - issued when: (a) the
doubtful legality/propriety/ which are illegal/irregular/ amount assessed/appraised
regularity which may result unnecessary/excessive/ is less than what is due the
in pecuniary loss to the extravagant/unconscionable government; (b) the
government, and which will as defined under existing amount billed is less than
be disallowed in audit, if laws/rules/regulations. the amount due the
not satisfactorily explained government; (c) the
or validly justified by the amount due is not billed
parties concerned. and not collected; (d) the
amount collected is less
than what is due to the
government; and (e)
amount collected is not
remitted or under-remitted.
The differences noted shall
constitute a proper audit
charge.
For the calendar year 2018, a total of P1,525.309 million, representing transactions of doubtful
legality/propriety/regularity were suspended in audit. A total of P8,203.981 million was,
however, settled during the year.
NDs were issued for transactions totaling to P4,060.079 million. These represent various
expenditures which were considered irregular/unnecessary/excessive and extravagant/illegal
and/or unconscionable in nature. A total of P434.619 million was settled.
NCs were issued for uncollected/unassessed revenues totaling P1.849 million. A total of
P33.173 million was recovered.
The unsettled balance of NSs, NDs, NCs at year-end in Philippine peso were
P5,354.070 million, P45,070.594 million, and P3,706.075 million, respectively, while, the
suspensions and disallowances in US dollars as at year end are USD3,863,967 and
USD58,500, respectively.
347
Presented in Table IV – 3 is the Status of Issuance and Settlement of Audit Suspensions,
Disallowances and Charges as of year-end.
Table IV-3 Status of Issuance and Settlement of

Audit Suspensions, Disallowances and Charges
As of December 31,2018
Beginning Ending
Audit Action Issued Settled
Balance Balance
A. In Thousand Pesos
12,032,742 1,525,309 8,203,981 5,354,070

Suspensions
41,445,134 4,060,079 434,619 45,070,594
Disallowances
3,737,399 1,849 33,173 3,706,075
Charges
Total 57,215,275 5,587,237 8,671,773 54,130,739
B. In US Dollar
3,863,967 - - 3,863,967
Suspensions
58,800 - - 58,800
Disallowances
- - - -
Charges
Total 3,922,767 - - 3,922,767
Summary of implementation of prior years’ audit recommendations
COA regularly monitors responses of GCs to the audit recommendations and suggested
measure/s to address the audit observations discussed in prior years’ AARs. Presented in
Figure 2 is a summary of the status of implementation of prior years’ recommendations on
the 455 AARs and 27 MLs monitored.
Out of the total 12,807 audit recommendations, 5,098 or 39.81 percent were fully
implemented; 4,197 or 32.77 percent were partially implemented and the remaining 3,512 or
27.42 percent were not implemented at all.
348
Chart IV-2 Status of Implementation of Prior Years'
Recommendations
27.42%
39.81% Fully Implemented
Partially Implemented
Not Implemented
32.77%
Details and discussion on the action/s undertaken by management on the prior years’
audit recommendations are presented in the AARs of the respective agencies. Table IV -
6 shows the status of prior years’ audit recommendations per GC, while the status of prior
years’ audit recommendations per Water Districts are shown in Annex C of Volumn II of
the report.
349
Gender and Development (GAD)
Table IV-4A
Checklist of Common Audit Observations in the Audit of GAD Funds
Pursuant to COA Memorandum 2018-009 dated August 14, 2018
Audit Observations
1 2 3 4 5 6 7 8 9 10 11 12
A. GAD Plan and Budget (GPB) B. GAD Accomplishment Report (AR)
Has GAD Plan and Has GPB but not Has GPB but not Has PCW/DILG- Has PCW/DILG- Has PCW/DILG- Has GAD AR Has GAD AR Has GAD AR Has PCW/DILG- Has PCW/DILG-endorsed Has PCW/DILG-
Budget (GPB) submitted to endorsed by endorsed GPB but endorsed and agency- endorsed and agency- prepared but not but not endorsed GAD AR and agency-approved endorsed and agency-
prepared Philippine PCW/DILG not approved by approved GPB but no approved GPB but submitted to endorsed by but not approved by GAD AR but no copy was approved GAD AR
Commission on agency head copy was submitted to the copy was submitted PCW/DILG PCW/DILG agency head submitted to the Auditor but copy was
Women (PCW)/ Auditor late to the Auditor/ submitted late to the
Department of Submitted after the Auditor/submitted
Interior and Local audit period after the audit report
Government
(DILG)
Audit Observations
13 14 15 16 17 18 19 20 21 22 23 24
350
C. Creation of GAD Focal Point System (GFPS)

D. GAD Plan and Budget and Fund Utilization
under the Magna Carta of Women (MCW)
Has constituted Has GFPS created Has GFPS GAD Budget less GAD Budget at least 5% GAD Budget GPB not GPB partially GPB fully Programs, projects PPAs not supportive of PPAs implemented
GFPS but not in created but not than 5% of total of total appropriations exceeded 5% of total implemented implemented implemented and activities (PPAs) gender issues of the agency exceeded the approved
accordance with the functioning/inacti appropriations appropriations implemented not in GPB
MCW ve accordance with the
GPB and gender-
responsive
Audit Observations
GPB and Fund Utilization E. Establishment and Maintenance of GAD Database F. Other Audit Observations
25 26 27 28 29 30 31 32 33 34 35 36
GAD funds GAD funds GAD funds fully GAD funds utilized No sex disaggregated data With sex With sex Has conducted Has GAD Has VAW Desk (for Has GAD Monitoring and Others
unutilized underutilized utilized exceeded the on file disaggregated data disaggregated gender analysis Code (for LGUs) or Women's Evaluation System
approved GPB but insufficient data but no LGUs only) Desk
gender analysis (NGAs/GOCCs)
Table IV-B
Corporate Government Sector
Gender and Development (GAD)
Sectoral Consolidated Audit Observations on GAD
Calendar Year 2018
Cluster/ Audit Observations *

Audit Recommendations
Office 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 32 33 34 35 36

BSP √ x x x x x √ x √x x x x √ x x √ x x x x √ x x x x x √ x x x x √ N/A √ √ None
PICCI √ √x √ √ x √x √ x x √ √ x x √ √ x N/A x x Strictly comply with PCW-NEDA-DBM Joint
Circular No. 2012-01 by submitting its GAD Plan
and Budget within the period prescribed in the
guidelines
CIC x x √ x x x x N/A x x Strictly comply with the requirements set forth under
PCW-NEDA-DBM Joint Circular No. 2012-01 by
preparing and submitting its GAD Plan and Budget
to PCW for review.
DBP √ x x x x x √ x x x x x N/A N/A N/A √ x x x √ x √ x √ x x N/A N/A N/A N/A N/A √ a. Allocate at least 5% of the annual COB for GAD-
related activities and formulate GAD plan in
351
accordance thereto, attributing GAD-related DBP

programs and projects to said budget, that will
adequately support gender mainstreaming;
b. Subject the GPB and AR to intensive review of

the Executive Committee of the GAD Focal Point
System of the Bank prior to its submission to PCW;
and
c. Accomplish the planned GAD activities.

DBPLC √ x x x x x √ x x x x x √ x x x √ x x x √ √ x √ x x x x √ N/A x √x a. Continue efforts to adopt gender mainstreaming in
their systems, structures, policies, programs,
processes, and procedures; and
b. Expedite establishment of a formal monitoring

and evaluation system.
DBPMC None to Report

AAIIBP √ x x x x x √ x x x x x √ x √x √ x x x √ x √ √ x x x x √ x N/A x x a. Attribute AAIIBP programs to GAD budget to
ensure that, on a yearly basis, the budget for
implementing GAD programs may be at least five
per cent of AAIIBP’s COB;
b. Maintain an updated database to address as many
client-focused gender issues as applicable;
Table IV-B
Office 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 32 33 34 35 36
c. Implement GAD activities as planned to ensure
that gender perspective is mainstreamed and
sustained in the Bank’s mandate and regular
programs;and
d. Establish a monitoring and evaluation system to

monitor the implementation of the annual GPB and
assess the status of the Bank’s institutional
mechanisms on gender mainstreaming annually.
DCI x x √ x √ √ x N/A x x Prepare its GPB in accordance with the guidelines

and coordinate with the PCW to institutionalize
gender mainstreaming in DCI programs and policies.
√ √ √ √ √ √ √ √
LBP x x x x x x x x x x x x x x x x x x x x x x x x N/A x x
LIBI √ √ √ x x x √ √ √ x x x √ x x x x x x N/A x x Submit the GAD Plan and Budget within the period
prescribed in PCW-NEDA-DBM Joint Circular No.
2012-01.
LBRDC √ √ √ x x x x x x x x x √ x x x x x x N/A x x Prepare the prescribed template on GPB and submit
352
to PCW pursuant to PCW-NEDA-DBM Joint

Circular No. 2012-01.
MSI x x x x x x x x x x x x x x x N/A x x Submit the GAD Plans and Budget to PCW in
accordance with PCW-NEDA-DBM Joint Circular
No. 2019-01.
LLFC √ √ √ x x x √ √ √ x x x √ x x N/A x x Prepare the prescribed template on GPB and submit
to PCW one year before the budget year pursuant to
PCW-NEDA-DBM Joint Circular No. 2012-01.
LCDFI √ √ √ x x x √ √ √ x x x √ x x N/A x x a. Conduct GAD planning and budgeting annually in

accordance with the guidelines; and
b. Prepare GPB yearly and observe the schedule of

submission to PCW required under PCW-NEDA-
DBM Joint Circular No. 2012-01.
PDIC √ √x √ x x √x √ √x √ x x √ √x √x √x √ x x x √ x x x x x √ x x x √ √ x NA NA x a. Enhance the GAD Programs, Plans and Activites

by:
1) improving the sex-disaggregated data of the
personnel to allow for the conduct of comprehensive
gender analysis;
Table IV-B
Office 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 32 33 34 35 36
2) Identify other relevant gender issues from the
result of gender analysis; and
3)Attribute any gender-responsive PDIC

programs/projects by using the HGDG tool;
b. Increase the allocation of budget to GAD taking

into consideration the enhancement in programs,
plans and activities; and
c. Strengthen the monitoring system by instituting

appropriate monitoring procedures to ensure that
GAD PPAs are implemented as planned towards the
attainment of the GAD objectives and addressng
gender issues.
OFB √ x x x x x √ x √ x x x √ x x √ x x √ √ √ √ x x x √ x x √x x √x √x N/A √ x √x a. Require the heads of implementing department

offices to ensure that GAD projects are implemented
as planned and budget are utilized properly to attain
the GAD objectives.
353
b. Pursue collection and remedial action on the

borrowers of HJB Loan with past due status ; and
c.. Include the HB Loan in the GAD Project,

Programs and Activities to be indorsed to PCW
once the micro finance facility is re-opened.
Cluster 2- Social Security
GSIS √ √ √ x x x √ x x x x x x x x √ x x x √ x x x x x √ x x x x x √ N/A √ √ a. Ensure the timely submission of GPBs to PCW;

and
b. Maintain close coordination with the PCW on the
latter's review of GPBs.
Strictly implement Section 36(a) and 37(A)(1) (c) of

RA No. 9710 and its IRR, respectively, on the
mandatory five per cent budget allocation and
attribution to GAD pursuant to Section 1.5.1 of
PCW MC No. 2016-05.
Table IV-B
Office 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 32 33 34 35 36
AFP-RSBS √ √ √ √ꓫ x x x x x x x x √ x x √ x √ x √ x x x x x √ x x √ x x x √ x a. Direct the GAD Focal Person to ensure that the
GPB and the corresponding AR are reviewed and
endorsed by PCW to DBM in accordance with PCW-
NEDA-DBM Joint Circular No. 2012-01 before its
implementation, and to submit the same to the Audit
Team within the prescribed period
as required in Section 5 of COA Circular No. 2014-

001; and
b. Register online to the GMMS for the yearly

submission of the GPBs and GAD ARs.
SUMSI √ √ √ x x x √ √ √ x x x x x x √ x x x x √ √ x x x x √ x √ x x x x x a. Submit the GPB and GAD AR to the PCW for

review;
b. Create a GAD Focal Point System that will
maintream gender issues in SUMSI's projects,
programs and activities;
c. Specify SUMSI's activities that can be considered
as GAD related activities; and
d. Specifically identify the gender issues and
354
concerns within the agency which should be the basis

of GPB.
SSS √ x √ x x x √ x √ x x x √ x x √ x x x √ x x x x x √ x x x x x √ N/A √ √ a. Maximiize utilization of Gender and Development

budget;
b. Allocate at least 5 percent of the total COB;
c. Make use of HGDG Tool in attributing major
programs to GAD; and
d. Ensure that submission of GPB and GAD AR to
PCW is made within the deadline set for the same.
ECC √ √ √ x x √ √ x x x x x √ x x x x x x x √ x x x x x √ x x x x √ N/A √ √ a. Strictly comply with the timelines set in PCW MC

No. 2016-05 and other related MCs for the timely
submission of required reports; and
b. Adhere to COA Circular No. 2014-001 on the
timely submission of the said reports to the COA
Audit Team.
Table IV-B
Office 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 32 33 34 35 36
HDMF √ √ꓫ √ x x x √ x √ x x x √ x x x √ √ x x √ x x x x √ x x x x x √ x √ a. Strictly comply with the provisions of PCW-
NEDA-DBM Joint Circular No. 2012-01 and follow
the timelines set in PCW Memorandum Circular No.
2016-05 for the timely submission of GPB and other
reports; and
b. Properly monitor the implementation of the

planned GAD programs, projects and activities to
maximize utilization of the GPB.
NHMFC √ √ √ x x x √ √ √ x x x √ x x √ x x x √ x √ꓫ x x x √ x x x √ √ x NA a. Maximize the use of the budget allocated for GAD

activities;
.
b. Monitor properly the implementation of the
planned GAD programs, projects and activities
(PPAs), which should be done as per schedule within
the budget year, as approved by PCW; and
c. Conform strictly with the provisions under Section
6.1 of the Joint Circular No. 2012-01 issued by
PCW-NEDA-DBM on the costing and allocation of
the GAD Budget.
355
SHFC √ x x x x x √ x x x x x √ x x √ x x x √ x x x x x √ x x x √ x √ x √ a. Properly allocate or attribute GAD related

expenses to maximize the use of the budget required
to be allocated for GAD activities to conform strictly
with the provisions under Paragraph 2.3 of Joint
Circular No. 2012-01 issued by PCW-NEDA-DBM;
and
b. Monitor properly the implementation of the

planned GAD programs, projects and activities
(PPAs), which should be done as per schedule within
the budget year, as approved by PCW.
NHA √ x x x x x √ x x x x x √ x x √ x x x √ x x x √ꓫ x √ꓫ x √ꓫ x x x √ NA √ꓫ √ a. Comply with item 6.a of PCW-NEDA-DBM Joint

Circular No. 2012-01 that at least five percent of the
total budget, inclusive of personal services,
maintenance and other operating expenses, and
capital outlay, should be allocated for GAD PAPs
for the year;
Table IV-B
Office 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 32 33 34 35 36
b. Review the GAD Plan and Budget and
Accomplishment Report to determine the cause/s for
low budget utilization for client and organizational
focused PAPs and the over utilization of the
attributed program to determine the correct budget
requirements in the future; and
c. Formulate an effective monitoring system to

ensure that all identified GAD PAPs will be timely
and fully undertaken within the year.
PDGCC √ √ √ x x x √ √ √ x x x x x x √ x x x x √ x x x x √ x x x x x √ NA x √ a. Create GFPS to ensure and advocate for, guide,

coordinate, and monitor the development,
implementation, review and updating of the GAD
plans and GAD related PAPs of the PDGCC; and
b. Diligently submit/file to appropriate oversight

agency the required reports under the laws, rules and
regulations.
356
HGC √ √ꓫ √ N/A N/A N/A √ x x N/A N/A N/A x √ꓫ √ꓫ √ x x √ꓫ √ √ꓫ x x x √ꓫ √ x x x √ x x √ x Maintain the strict compliance with item 7.v,vi and
viii of PCW-NEDA-DBM Joint Circular No. 2012-
01 and Item A of PCW Memorandum Circular No.
2015-04.
On GAD's fund utilization:

a. Use the Harmonize Gender and Development
Guidelines Tool to come up with possible GAD
PAPs appropriate to HGC's mandate; and
b. Accelerate the efforts to implement the GAD

PAPs as indicated in the GPB.
On the composition of GAD Focal Point:**

a. Reconstitute the GAD Focal Point to effectively
plan, implement and monitor GAD PAPs in
compliance with PCW-NEDA requirements; and
b. Enhance existing and/or adopt new mechanisms,
systems, and processes to utilize the GPB for the
benefit of the intended beneficiaries.
Table IV-B
Office 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 32 33 34 35 36
On the deficiencies noted in the GAD expenses for
the years 2017 and 2018:
a. Strictly comply with the requirements of Section
4(6) of Presidential Decree No. 1445, COA Circular
No. 2012-001, NBC No. 563, item 3.c and f of
GPPB Resolution No. 09-2009 and Section 1 of
Administrative Order No. 6 to substantiate the
validity and resonableness of GAD expenditures.
** GAD Focal Point System reconstituted under
Office Order No. 6, series of 2019 dated Feb. 11,
2019
Small Business √ x x x x x √ √ √ N/A √ꓫ √ꓫ √ x x x √ √ x √ x x x √ x x √ √ x x x √ N/A √ √ Submit to the PCW the Corporation's duly-approved
Corporation GAD AR in compliance with Section 10 of PCW-
NEDA-DBM Joint Circular 2012-01.
TIDCORP √ x x √ x √ √ √ √ꓫ √ꓫ x x √ x x √ x x x x √ x x x x √ x x x x x √ N/A x √ x a. Strictly adhere to Item V of COA Circular No.

2014-001 dated March 18, 2014 for the timely
submission of the GPB to the COA Audit Team;
357
b. Strictly conform with the provision under Section

8 of the PCW-NEDA-DBM Joint Circular No. 2012-
01 on submission, review and endorsement of
Agency GAD Plans and Budget;
c. Monitor review and comments of PCW, if any, on

submitted GAD Accomplishment Report;
d. Allocate at least 5% of the total annual budget for

the implementation of GAD related activities as
required under Section 6.1 of the PCW-NEDA-
DBM Joint Circular No. 2012-01;
e. Maximize the utilization of the GAD funds

through the implementation of GAD-related
programs and projects in order to attain the objective
for which funds were provided; and
f. Provide in the GAD budget and accomplishment

report detailed computation of expenses (i.e.
personal services and/or maintenance and other
operating expenses per individual activity or training
undertaken) and
Table IV-B
Office 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 32 33 34 35 36
references (i.e. date of activity, name of participants,
reference/DV number, date and amount) to facilitate
audit/verification/ validation thereof.

LRTA √ x x x x x √ x x x x x √ x x x √ x x √ x x x √ x √ x x √x √ √x √x √ x a. Maximize the utilization of the GAD funds
programs and projects in order to
attain the objective for which funds were provided;
b. Review GAD Accomplishment Report for 2018 to

determine the cause/s for the non-implementation of
activites;
c. Require both GAD FPS-TWG and Accounting

Division to closely coordinate to be able to recognize
and present
Transportation Fees and Other - MOOE (GAD) to its
correct balances; and
358
d. Require the GAD Focal Point System and

Committee to:
i. Prioritize in the agency's succeeding GPB

recurring issues and those that have not been
addressed in the previous years' GPB;
ii. Generate and develop sex-disaggregated data

through systematically gathering of data and inputs
as the bases for planning, budgeting, programming
and policy formulation;
iii. Integrate programs and projects for which

corresponding issues have already been identified
under Philippine Plan for Gender Responsiveness
Development (PPGD) for 1995-2025 and the MCW
to utilize the allotted funds;
iv. Undertake measures to address possible issues

hindering the performance of their functions in
accordance with the MCW and other GAD-related
laws, policies and plans ; and
v. Provide programs, plans and activities that address

and prioritize the current issues and situations of its
employees.
Table IV-B
Office 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 32 33 34 35 36
PNR √ √ √ x x x √ x √ x x x √ x x √ x x √x √ x x x x √x √ x x √ x x x √x √x Utilize the budgeted amount for the programmed
GAD activities and ensure that these activities are
accomplished.
PNOC √ x √ x x x √ x √ x x x √ x x √ x x x √ x x x x x √ x x x √ √x √x x x x a. Maximize the utilization of the GAD funds

for which funds were provided;
b. Require Management's heads of implementing

departments/offices to ensure that GAD related
activities are implemented as planned to attain the
GAD objectives;
c. Attribute expenses related to GAD;
d. Facilitate the establishment of PNOC GAD

Database and GAD Monitoring and Evaluation
System.
PAFC On-going Dissolution

359
PDMC On-going Dissolution
PNOC EC √ x x x x x √ x x x x x √ x x √ x x x √ x x x x x √ x x √ x x x x √ a. Attribute other expenses that are for GAD -

related activities; and
b. Maximize the utilization of the GAD-allocated
funds through the implementation of GAD - related
programs and projects in order to recognize the
fundamental equality of women and men and ensure
responsive governance.
PNOC RC √ √x √ x x x √ √x √ x x x √ x x √ x x x √ x x x x x √ x x x √ x √ x √x a. Attribute at least five percent of the total corporate

operating budget on GAD;
b. Submit the GPB and Accomplishment Report to
PCW within the prescribed period;
c. Formulate the GPB within the context of PNOC
RC mandates to mainstream gender perspectives in
their policies, programs and projects to maximize the
use of allocated funds to address GAD issues and the
concerns; and
d. Closely monitor implementation of GAD PAPs

with an immediate alternative course of action if
implementation could not be made.
Table IV-B
Office 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 32 33 34 35 36
PSTC On-going Dissolution
NPC √ x x x x √ √ √ x x √ x x x x √ x x x x x x √ √ x x x x x a. Provide a reasonable GAD budget as required
under the GAA to effectively carry out the GAD
prorgams, activities and projects; and
b. Conduct gender audit and analysis and

institutionalize a GAD database/sex-disaggregated
data to identify the gender needs of NPC.
PSALM √ √x √ x x x √ √ √ √ x x √ x x x √ x √ √ x √ x √ x x x x √ a. Ensure compliance with Section 8.5 of

DBM/NEDA/NCRFW Joint Circular No. 2012-01
in so far as the submission and/or
resubmission of the GBP, as applicable;
b. Comply with Section 6.4 of PCW-NEDA-DBM

Joint Circular No. 2012-01 in the process of
attributing agency major programs to the GAD
budget; and
c. Revisit or improve the planning and

implementation of PSALM's GAD activities to
achieve its intended objectives.
360
TransCo √ x √ x x √ √ x √ x x √ √ x x √ x x √x √ x √x √x √x x √ x √x x √ √ x √ √ √ x a. Allocate the minimum requirement of at least

five percent of the TransCo's approved COB to the
GAD budget; and
b. Maximize the utilization of the budgeted GAD

program/ activities in order to achieve optimum
benefits for the employees and other beneficiaries.
LWUA √ x x x x x √ x x x x x √ x x √ √ x x √ x x x x x √ x x √ x x x x x a. Mainstream the GAD programs, activities and

projects to the regular activities of the Corporation in
order to attain the GAD budget minimum
requirement of at least five percent of the
Corporation's approved COB;
b. Review the 2018 GAD Accomplishment Report to

determine the cause/s for the non- implementation of
some activities for consideration in the future GAD
activities;
c. Establish a Women's Help desk to provide

counselling, legal aid, and medical treatment for any
sexual harassment or related complaint from the
Agency employees; and
Table IV-B
Office 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 32 33 34 35 36
d. Establish a sex disaggregated data thru the
conduct of surveys or seminars as required by COA
Circular No. 2014-001.
NEA √ x x x x x √ x x x x x √ x x √ x x x x √ x x x x √ x x √ x x √ √ x a. Increase the budget to be allocated for GAD plan

and programs to effectively carry out GAD projects
and activities and achieve GAD's mandate in NEA
as required by RA 10964 or GAA of 2018 and
PCW-NEDA-DBM Joint Circular No. 2012-01;
b. Undertake measures and attend capacity building

programs to achieve gender
mainstreaming;
c. Include only GAD program, activities and
projects that are gender-related in succeeding GAD
Plan and Budget to be submitted to the PCW to
avoid disapproval;
d. Provide additional activities which address gender
issues and development to promote women
empowerment and gender equality in the GAD Plan
and Budget. ; and
361
e. Include possible client-focused activities in the

Annual GAD Plan and Budget.
APO √ x x x x √ √ x x x x √ √ x x √ x x √x √ x x x x √x √ x x √ x x x x x a. The five percent or P55.540 million required

GAD budget must be properly attributed to each
fund account per GPB formulated by APO;
b. Maximize the utilization of allocated GAD

projects and activities by formulating an effective
monitoring system process to ensure that all
identified s/activities/ projects are implemented in
order to achieve optimum benefits for the
employees; and
c. Coordinate with PCW for review and approval of

GPB.
MWSS CO √ x x x x x √ x x x x x √ x x √ x x x √ x x x x x √ x x √ x x x x x a. Incorporate GAD programs, activities and

projects in agency's regular operations to attain the
five percent of the total agency budget
appropriations requirement and attribute agency
programs to the GAD budget;
Table IV-B
Office 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 32 33 34 35 36
b. Maintain GAD database/ sex-disaggregated data
thru conduct of surveys which will serve as basis
for planning, budgeting, programming and policy
formulation; and
c. Judiciously plan GAD programs, activities and

projects to achieve GAD objectives and thereby
maximizing the utilization of the GAD funds.
MWSS RO √ √ √ √x √x x √ x x x x x √ x x √ x x x x √ x x x x √ x x x √ x √ x √x a. Submit timely the GAD Plan and Budget to the

PCW for review and approval in compliance with
Section 8 of PCW-NEDA-DBM Joint Circular
No. 2012-01; and
b. Stop the practice of implementing GAD

Programs, Activities, and Projects as perceived only
by Management, without the approval of the PCW
to avoid any disallowances.
PPA √ x √ x x x √ x √ x x x √ x x √ x x x x √ √ x √ x x √ √ x x √ √ x √ √ a. Institute effective measures to monitor and ensure

that GAD activites outlined in the GPB are fully
362
accomplished;
b. Maximize the utilization of the allotted GAD
funds to ensure that the actual GAD expenditures
incurred were in accordance
with the programs, projects and activities as

planned;
c. Submit justification that the expenses attributed
were indeed GAD-responsive as prescribed in COA
Circular No. 2014-001 dated March 18, 2014;
d. Avoid incurrence of expenses that are personal in

nature and to limit the expenses to GAD-related
activities which are client-focused or those
addressing gender mainstreaming in major programs
and other GAD-focused
activities for agency clients and organization-

focused or those addressing identified gender issues
of the agency and its personnel;
e. Strictly adhere with COA Circular No. 2014-001

for the timely submission of the required GAD
reports to COA for its timely review and prompt
communication of audit results;
Table IV-B
Office 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 32 33 34 35 36
f. Comply with the provisions of PCW
Memorandum Circular No. 2018-05 and PCW-
NEDA-DBM Joint Circular No. 2012-01 pertaining
to the submission and endorsement of PPA's Annual
GPB and GAD AR to PCW;
g. Strictly adhere with Section 10.4 of Joint Circular
No. 2012-01 in the submission of brief summary of
the reported program or project and
corresponding disbursement vouchers and
liquidation reports; and
h. Comply with Section 4 of Joint Circular 2012-001

in the procurement of database/sex- disaggregated
data for an effective implementation of GAD
planning and budgeting.
PPC √ √ √ x x √ √ x x x √ √ √ x x √ x x √x √ x x √x x √x √ x x √ x x x √x √x a. Require the Head of implementing departments/

offices to ensure that GAD programs, projects
and activities are implemented as planned to attain
the GAD objectives;
363
b. Strictly implement the provision of the GAA

particularly on the provision of the required budget;
c. Strictly adhere to Item V of COA Circular No.

2014-001 dated March 18, 2014 for the timely
submission of the said reports to the COA Audit
Team; and
d. Require the GAD Focal Point System to:
i. Institutionalize the GAD database with adequate

and systematically gathered sex-disaggregated data
which will provide the bases for gender analysis,
planning, programming and policy formulation;
and.
ii. Undertake gender analysis to identify and

confirm existing gender issues and ensure that
programs, projects and activities are responsive to
the said issues.
Cluster 4- Industrial and Area Development
BCDA √ x x x x x √ x x x x x x x x √ x x x √ x x x x x √ x x x x √ x a. Ensure that all identified program/activities due

for implementation will be fully and timely
undertaken; and
Table IV-B
Office 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 32 33 34 35 36
b. Prioritize capacity develop-ment activities on
GAD planning and budgeting and Gender Analysis
to assist the Management in formulating client-
focused and organization-focused GAD activities.
BMHI None, BMHI is already deactivated.

NORTHRAIL √ x x x x x √ x x x x x √ x √ x √ x x √x x √ x x x √ x x x √ Ensure that all identified program/activities due for
implementation will be fully and timely undertaken.
CAAP √ x √ √x √x √x √ x √ √x √x √x √ x x √ x x √x √ x x √x √ √x √ x x √ x x x x √ a. Instruct the GAD TWG to coordinate with the

PCW for the conduct of further trainings to
capacitate CAAP personnel in the Head Office and
Area Centers in the use of Harmonized Gender and
Development Guidelines (HGDG) tool in assessing
the gender-responsiveness of the Authority’s major
programs and activities and determine the percentage
of budget that can be allocated to the GPB;
b. Consider decentralization of the implementation

of GAD projects;
c. Strengthen coordination among all personnel,
364
particularly the Budget Division, in the formulation

of the GPB;
d. Adhere to the guidelines set under Section 9.2 of
the aforecited Joint Circular in revising the PCW-
endorsed GPB as a result of non-inclusion of GAD
PAPs in the COB;
e. Formulate an effective monitoring system/process

in the implementation of all identified PAPs so that
the intended beneficiaries shall enjoy benefits
derived therefrom;
f. Instruct the HRMO in coordination with GAD

TWG to develop a GAD database/Sex-disaggregated
Data and capacitate GAD GFPS on its use and
importance to be able to aid the focal point in the
determination of gender issues and corresponding
actions to address it;
g. Prepare a timely preparation of the Annual GAD

Plan and Budget and submit the same to the PCW
within the prescribed deadline for proper
endorsement pursuant to the provisions of the PCW-
NEDA-DBM Joint Circular No. 2012-001; and
Table IV-B
Office 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 32 33 34 35 36
h. Submit to COA the GPB within 5 working days
from the receipt of the approved GPB duly endorsed
by PCW and the accomplishment report within 5
working days from the end of January of the
preceding year.
PEZA √ x x x x x √ x √ x x x √ x x √ x x x √ √ x x x x √ √ x x x x √ N/A √ √ a. Encourage close coordination and cooperation

among all personnel involved to implement fully all
GAD-related programs, activities and projects
included in the PCW-endorsed GPB; and
b. Closely monitor the implementation of PCW-

endorsed GAD programs, activities and projects.
PRA √ √ √ √ √ √ √ Prioritize and accomplish the GAD activities

presented to PCW for endorsement, otherwise, GAD
issues it aims to address may not be effectively
addressed.
TIEZA √ x √ x x x √ √ √ x x x x x x √ x x x √ x x x x x √ x x x x x √ x √ a. Properly plan the acti-activities to ensure that
targets are achieved by considering the following in
the planning stage:
365
a.1 Identification of risks in the achievement of

programs/ projects/ activities; and
a.2 Steps to take to address/ manage the identified
risk.
b. Comply with the requirement of paragraph V of
COA Circular No. 2014-001 dated March 18, 2014
of the submission of the Annual GAD GPB and
Accomplishment to COA.
CFI √ x √ x x x √ √ √ x x x x x x √ x x x √ x x x x x √ x x x x x √ x √
NDC √ √ √ √ √ √ √ √ √
BLCI x x x x x x x x x
FCIEI x x x x x x x x x
GYREI x x x x x x x x x
IIGSI x x x x x x x x x
KRC x x x x x x x x x
MGC x x x x x x x x x
NPIC x x x x x x x x x
PRC x x x x x x x x x
PNCC x x x x x x x x x x x x x x x x x x x x x x x x x x x x x x x x x x x x
DCBGSI x x x x x x x x x x x x x x x x x x x x x x x x x x x x x x x x x x x x
Table IV-B
Office 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 32 33 34 35 36
ASDI x x x x x x x x x x x x x x x x x x x x x x x x x x x x x x x x x x x x
CDCP FC x x x x x x x x x x x x x x x x x x x x x x x x x x x x x x x x x x x x
PADC √ x x x x x x x x x x x x x x √ x x x x x x x x x x x x x x x x Comply with the pertinent provisions of Republic
Act No. 9710; likewise, properly monitor the
implementation of target GAD activities identified in
the GPB.

NFA √ x √ √x √x √x √ x √ x √x √x √ x x √ x x √x √ x x x x x √ x x x √ √x √x NA √ x √ a. Strictly comply with Executive Order (EO) No.
273, PCW-NEDA-DBM Joint Circular No. 2012-
01, COA Circular No. 2014-01 and PCW
Memorandum Circular No. 2016-05;
b. Direct the GAD focal person to:
b.1 Prepare the annual GPB and submit together with

the Accomplishment Report (AR) within the
deadlines set; and
b. 2 Submit to the Audit Team copy of the duly
endorsed GPB within five working days from receipt
thereof and GAD AR within five working days from
the end of January of the following year.
366
c. Ensure the full implementation of

programs/activities included in the GPB for the year;
d. Closely coordinate with NFA field offices on the

implementation of GAD programs/activities to
ensure full implementation of the GPB;
e. Submit explanation why the travel expenses

incurred for the conduct of special audit was charged
to GAD; and
f. Require the NFA GAD Focal Point to coordinate

with the Accounting Services Department on the
preparation of the GAD AR to ensure that the actual
amount of the expenses incurred will be correctly
presented therein.
FTI x x x x x x √ √ √ x x x √ √ √ √ x x √ x x √ √ x x √ x x √ x x x NA x x Ensure strict adherence to PCW-NEDA-DBM Joint

Circular No. 2012-01 on the preparation and
submission of Annual GPB and AR to PCW and
endorsement to DBM.
Table IV-B
Office 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 32 33 34 35 36
NIA √ √ √ √x √x √x √ x √ √x √x √x √ x x x x √ x √ x √x √x x x √ x x x x x √x NA x √ Instruct the GAD Central Office (CO) and Regional
Offices (ROs) Focal Persons to submit their GPB
and AR to PCW pursuant to existing regulations to
ensure that these are endorsed by the latter. In
addition, implement GAD activities in accordance
with the approved plan and budget to ensure that
programmed activities during the year are carried out
effectively.
NIACI Abolished/Closed
PCA √ √x √ x x x √ x √x √x √x √x √ x x √ x x √x √x √x √x √x √x √x √x √x √x √x √ √ x NA x x a. Comply with EO No. 273, PCW-NEDA-DBM JC
No. 2012-01, COA Circular No. 2014-01, and the
related PCW MC; and
b.1. Prepare the Annual GPB and submit the same to
PCW, together with the GAD AR for review and
endorsement within the deadline set; and
b.2. Submit to the Audit Team copy of the

approved/duly endorsed GPB within five days from
receipt thereof;
367
c.. Establish/set up and maintain GAD database to

serve as basis for gender-responsive planning,
programming and policy formulation as required
under Item 4.4 of PCW-NEDA-DBM Joint Circular
No. 2012-01; and
d. Ensure that the members of the GAD focal point
systems of the CO and ROs/Centers are continuously
trained and updated on GAD reporting, planning and
budgeting.
SRA √ x x x x x √ x x x x x √ x x x x √ x √ x x x x x √ x x √ x x x NA √ x Institutionalize the GAD Focal Point Systems
(GFPS) and require the:
a. Head, GFPS and TWG to:
a.1 Formulate guidelines on the monitoring and
evaluation of GAD programs, projects and activities
to ensure that these are implemented as planned and
the expected benefits toward gender equality and
women empowerment are attained;
a.2 Establish/set up and maintain GAD database to

serve as basis for gender-responsive planning,
programming and policy formulation as required
under Item 4.4 of PCW-NEDA-DBM Joint Circular
No. 2012-01; and
Table IV-B
Office 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 32 33 34 35 36
b. Accountant and GFPS to reconcile GAD expenses
incurred to ensure the reliability of the data for
control and monitoring purposes.
PHILSUCOR Under liquidation

PFDA √ x x x x √ √ x x x x √ √ x x √ x x x √ x x x x x √ x x x x √ x NA x √
NDA √ √ √ x √x √x √ x x x √x √x √ x x √ x x x x √ √ x x x x √ x x x x √ NA √ √ Submit the GPB within the prescribed period to the
PCW to ensure that the NDA’s GAD programs,
activities and projects are gender-responsive.
NTA √ √ √ x x x √ x x x x x √ x x x √ x x x √ x x √ x x √ √ x x √ √ NA √ √
HSDC Under liquidation
PADCC Under liquidation
ZREC Under liquidation
NABCOR Under liquidation
PMDC √ x √ x √x √x √ x √ √x √x √x √ x √x x √ x √x √ √x √x √x x x √ x x x x x x NA x √x Require the Focal Point Person to submit the GPB to
PCW on a timely manner to ensure that the planned
activities are reviewed and endorsed by the PCW and
that the gender issues are addressed.
NRDC No GAD budget and fund utilization

368
PFC Under liquidation

PCIC √ √x √ √x √x √x √ √x √x √x √x x √ x x √ x x x √ x √x x x √x √ x x x √ √ x NA √ x √x Require the GFPS to:
a. Observe the scheduled GAD Planning and
Budgeting as provided by PCW and other relevant
issuances; and
b. Ensure that the approved GPB is maximized in
undertaking GAD related activities.
Require the GFPS to enhance and update their GAD

database pursuant to PCW MC No. 2014-05; and to
comply with the relevant issuances and provisions
related to GAD.
QUEDANCOR Under liquidation
Cluster 6 - Social , Cultural, Trading, Promotional and Other Services
PCSO √ √ √ √ √ √ √ Comply with Section 6.1 of PCW-NEDA-DBM
Joint Circular No. 2012-01, prescribing at least five
per cent of the COB shall be allocated for GAD;
Exert more effort to comply with Section 4.4 of the

PCW-NEDA-DBM Joint Circular No. 2012-01 on
the institutionalization of GAD Database/Sex-
disaggregated Data to ensure a more effective GAD
planning & budgeting as well as implementation of
GAD activities; and
Table IV-B
Office 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 32 33 34 35 36
Direct the concerned official and employees to
comply with COA Circular No. 2014-001 on the
submission of the GPB as well as the GAD
Accomplishment Report within the prescribed
period.
PAGCOR √ √x √x x x x √ x x x x x √ x √x x √ x √x √ x √x √x √ x x x √ √ x x x x √x √
a. Direct the GAD Focal Point System (GFPS) to:
a.1 Closely coordinate with PCW and/or accredited

training agencies for the conduct of GAD-related
trainings and seminars to equip them of their duties
and responsibilities
and be able to effectively implement GAD;
a.2 Develop GAD Database/ Sex-disaggregated data
to assure that the gender issues identified in the
GPBs are
systematically produced or gathered;
a.3 Subject PAGCOR's major programs to the
HGDG test to determine the actual amount that
could be attributed to the GAD budget; and
a.4 Ensure the proper preparation of the GPB and

369
submit the same together with the GAD AR within

the deadline set to the PCW for review and
endorsement.
b. Require all Branches to:

b.1 Prepare GPB and GAD AR and submit to the
Corporate-HO GFPS for consolidation; and
b.2 Furnish the Audit Teams copy of the
receipt thereof, and GAD AR within five working
days from the end of January of the following year
to comply with the
pertinent provisions of RA No. 9710, PCW-NEDA-

DBM JC No. 2012-01 and COA Circular No. 2014-
001 dated March 18, 2014
LCP √ √ √ x x x √ √ √ x x x √x √x √x √ x x √x x √ √ x x √x x x a. Strictly comply with EO No. 273, PCW-NEDA-
DBM Joint Circular No. 2012-01, COA Circular No.
2014-01, and PCW Memorandum Circulars;

b.1 Prepare the GPB and submit the same together
with the GAD AR in the prescribed format to PCW
for endorsement within the deadline set; and
Table IV-B
Office 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 32 33 34 35 36
b.2 Submit to the Audit Team copy of the
receipt thereof, and GAD AR within five (5)
working days from the end of January of the
following year.
c. Ensure that the GAD focal persons are adequately
trained to prepare GPB and GAD AR.
NKTI √ x √ x x x √ x √ x x x √ x x √ x x x √ x √ √x x x x √ √ √ x x x √ √ a. Allocate at least five per cent of the COB to GAD

related PAPs in compliance with the provisions of
b. Mainstream GAD on the PAPs of the Institute to

be able to attribute at least five per cent of the total
annual COB; and
c. Religiously coordinate with PCW to ensure that
the submitted Annual GPB is duly reviewed and
endorsed back to the Institute.
PCMC √ x √ x x x √ x x x x x x x x √ x x x √ x √x x x x √ x x x x √ x a. Ensure that the PCMC GAD Plan and Budget be

submitted to the PCW on or before the deadline set
370
for review and endorsement back to the Agency;
b. See to it that at least 5% of the approved COB be

attributed to GAD related activities and mainstream
gender perspective in the PCMC's policies and
PAPs, which shall be integrated to the regular
operations/ activities of the Agency in compliance
with the abovementioned Joint Circular; and
c. Strictly adhere to Item V of COA Circular No.

2014-001 dated March 18, 2014 on the timely
submission of GAD Accomplishment Reports to the
COA Audit Team concerned.
PHC √ x √ x x √ √ x x x x x √ x x √ x x x √ x x x x √x √ x x x x √ √ √ Fully implement GAD PAPs and attribute at least

five per cent of the COB to GAD in accordance with
the provisions of Joint Circular No. 2012-01 and
mainstream GAD on the PAPs of the Center.
PRA √ x x x x x √ x x x x x √ x x √ x x x √ x x x √ x x x √ √ x x x √ √ a. Allocate at least five per cent of the COB to GAD

Table IV-B
Office 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 32 33 34 35 36
b. Mainstream GAD on the PAPs of the Authority to
be able to attribute at least five per cent of the total
annual COB;
c. Conduct GAD activities in accordance with the
PCW-endorsed GPB;
d. Ensure that the GAD focal persons are adequately
trained to prepare GPB, GAD AR and other reports
required by the PCW; and
e. Strictly follow the law, rules and regulations on
GAD.
VFP √ √ √ x x x √ √ √ x x x x x x √ x x x √ x x x x x √ x x √ x x x x √ a. Establish the GAD Focal Point System;
b. Observe the required schedule for preparation and
submission of the GAD Plan and Budget to PCW,
which is one (1) year ahead of the calendar year of
such GPB;
c. Mainstream GAD PAPs to the regular programs of
the VFP to be able to allocate at least five (5) per
cent of the COB;
d. Submit the GAD Accomplishment Report to PCW
for review;
e. Maximize the utilization of the GAD funds
371

for which funds were provided; and
f. Coordinate with PCW for the proper training of

the GAD Focal Point System personnel to be able to
implement properly the GAD.
BSoP x √ √ x x x √ √ √ x x x √ x √ √ x x x √ x √ √x x √ x x x √ x x x x x a. Allocate GAD funds of at least five per cent of the
annual budget by attributing expenses on activities
related to GAD;
b. Prepare GPB in accordance with the prescribed
format to be submitted within the prescribed period
to PCW and thereafter implement, monitor, evaluate
and enhance BSP's gender mainstreaming efforts in
compliance with the JC No. 2012-001 of PCW-
NEDA-DBM;
c. Identify appropriate GAD programs, activities and

projects to address priority gender issues which are
to be included in the GPB; and
d. Prepare the GAR in accordance with the

prescribed format to facilitate evaluation of
accomplished programs, activities and projects and
thereafter submit the same to PCW.
Table IV-B
Office
1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 32 33 34 35 36
CITEM √ x x x √ √ √ x x x √ √ √ x x x √ x x √ x x x x x √ x x x x √ x x √ a. Mainstream GAD on the operations and regular
PAPs of the Center to be able to attribute at least five
per cent of the total COB;
b. Coordinate with PCW for the training of the

GFPS on the HGDG, to avoid delisting of the
proposed GAD PAPs in the GPB and the timely
endorsement of the GPB; and
c. Ensure that the PAPs identified in the duly PCW-

endorsed GPB are fully carried out.
DFPC √ √ √ x x x √ √ √ x x x √ √x x √ x x √ x x x x x x √ x x a. Allocate at least five per cent of the COB to GAD
b. Strictly observe the timeline in the submission of

the GPB to PCW as provided in the PCW-NEDA-
DBM Joint Circular No. 2012-01 and other
issuances on GAD to be able to obtain a PCW-
endorsed GPB;
372
c. Ensure the creation of the GAD Focal Point

System composed of personnel who are adequately
trained on GAD matters;
d. Update the DFPC's sex-disaggregated database, as

one of the inputs or bases for GAD planning,
budgeting, programming and policy formulation,
pursuant to Section 4.4 of PCW-NEDA-DBM Joint
Circular No. 2012-01; and
e. Implement all GAD PAPs indicated in the Annual

GPB to ensure that allotted funds are fully utilized
and objectives and targets are satisfactorily achieved.
NPF x x x x x x x x x x x x x x x x x x x x x x x x x x x x x x x x x x x a. Create GFPS that will take charge in the

formulation of the GPB and preparation of the
corresponding GAD Accomplishment Report;
b. Develop GPB that is compliant with the PCW-

NEDA-DBM Joint Circular No. 2012-01; and
c. Henceforth, strictly comply with the provisions of

the aforesaid Joint Circular and issuances of the
PCW on GAD.
Table IV-B
Office 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 32 33 34 35 36
PITC √ √ √ x x x √ √ √ x x x √ √x x √ x x √ x x √ √ √ √ √ x x a. Prepare and submit Annual GPB to PCW for
review and endorsement in consonance with PCW-
NEDA-DBM Joint Circular No. 2012-01;
b. Allocate at least five (5) per cent of approved
COB in the formulation of the annual GPB and
mainstream gender perspectives in the PITC's
policies and PAPs which shall be integrated in the
regular operations of the Corporation; and
c. Develop GAD database with adequate and

systematically gathered sex disaggregated data which
will provide the basis for effective gender analysis,
planning, programming and policy formulation.
PPPI √ √ √ x x x √ √ √ x x x x x x √ x x x x x x √ x √ x x x a. Prepare and submit GPB to PCW for review and

endorsement in consonance with PCW-NEDA-DBM
Joint Circular No. 2012-01;
b. Allocate at least five (5) per cent of approved
COB in the formulation of the annual GPB and
mainstream gender perspectives in the PPPI's polices
373
and PAPs which shall be integrated in the regular

operations of the Corporation; and
c. Create the GFPS pursuant to Rule VI, Section 37C

of the MCW-IRR and PCW MC No. 2012-01 to fast-
track gender mainstreaming within the PPPI.
TPB √ x √ x x x √ x √ x x x x x √x √ x x x √ x x x x x √ x x √ x x x x x a. Allocate, through attribution, at least 5% of the

total annual COB for the implementation of GAD-
related activities as required under Section 36(a) of
RA No. 9710 or the Magna Carta of Women and
b. Ensure that the GPB is duly approved by the TBP

GFPS and COO and submitted to the PCW on time
in compliance with PCW-NEDA-DBM Joint
Circular No. 2012-01;
c. Direct the GAD Focal Point System to:
a.1 Plan and require the Heads of implementing
department/offices to ensure that GAD PAPs are
implemented as planned to attain the GAD
objectives; and
a.2 Ensure compliance with the guidelines for the
preparation of Annual GPB and AR to implement
the Magna Carta of Women; and
Table IV-B
Office
1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 32 33 34 35 36
d. Maximize the utilization of the GAD funds
for which funds were provided.
PHIC √ x √ √ x √ √ x x x x AAR not yet transmitted

DAP x x x x x x √ x x x x x √ x x x x x x x x x x x x x x x x x x x x x a. Strictly comply with the provisions of the EO No.
01, COA Circular No. 2014-01, and PCW
Memorandum Circulars;
b. Ensure that the GAD focal persons are adequately
trained to prepare GPB and GAD AR; and
c. Direct the GAD focal person to:

c.1 Prepare the GPB and submit the same together
with the GAD AR in the prescribed format to PCW
for endorsement within the deadline set; and
c.2 Submit to the Audit Team copy of the

374
days from the end of January of the following year.
PIDS √ x √ x x x √ x √ x x x √ x x x x √ x √ √x x x √ x √ x x x x x √ x x The PIDS was able to comply/adhere with the

provisions of the Philippine Commission on
Women, National Economic and Development
Authority and Department and Budget and
Management (PCW-NEDA-DBM) Joint Circular
No. 2012-01.
CCP √ x √ x x x √ x √ x x x √ x x x x √ x √ √x x x x √x √ x x √ x x x √ a. Direct its GAD Focal Point System to strictly

observe the timeline in the submission of the GPB to
PCW as provided in the PCW-NEDA-DBM Joint
Circular No. 2012-01 and other issuances on GAD
to be able to obtain a PCW-endorsed GPB;
b. Implement all GAD PAPs indicated in the Annual

GPB to ensure that allotted funds are fully utilized
and objectives and targets are satisfactorily achieved;
c. Develop and maintain a GAD database in

accordance with Section 37 C and D, Item 2 (c) of
the IRR of RA No. 9710; and
d. Ensure that the Focal Point System is adequately
trained on GAD matters.
Table IV-B
Office
1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 32 33 34 35 36
PITAHC √ √x √ √ √x √ √ x √ x x √ √x x √ √x √x √x a. Strictly comply with the provisions of the EO No.
01, COA Circular No. 2014-01, and PCW
Memorandum Circulars;
b. Ensure that the GAD focal persons are adequately
trained to prepare GPB and GAD AR;
c. Direct the GAD focal person to prepare the GPB

and submit the same together with the GAD AR in
the prescribed format to PCW for endorsement
within the deadline set; and
d. Submit to the Audit Team copy of the
days from end of January of the following year.
IBC 13 x x x x x x Prepare the GPB and incorporate the GAD

programs, activities and projects in its operations in
compliance with the requirement of PCW-NEDA-
DBM Joint Circular No. 2012-01.
375
PTNI √ √ √ x x x √ √ √ x x x √ √x x √ x x x √ x √x x x x √ x x √x √ √ x x √x a. Allocate, through attribution, at least 5% of the

total annual COB for the implementation of GAD-
related activities as required under PCW-NEDA-
b. Ensure that the GPB is duly approved by the PTNI
GFPS and Head of the Agency and submitted to the
PCW on time in compliance with PCW-NEDA-
c. Direct the GAD Focal Point System to:

a.1 Plan and require the Heads of implementing
department/offices to ensure that GAD PAPs are
implemented as planned to attain the GAD
objectives; and
a.2 Ensure compliance with the guidelines for the
preparation of Annual GPB and AR to implement
the Magna Carta of Women; and
d. Maximize the utilization of the GAD funds

for which funds were provided.
Table IV-B
Office 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 32 33 34 35 36
PCED √ √ √ x x √ √ √ √ √x √ Submit the duly BOT-approved GPB to the PCW
through the prescribed Gender Mainstreaming and
Monitoring System (GMMS) and observe the timely
submission of PCW-endorsed GPB to the COA
pursuant to Section V of COA Circular No. 2014-
001.
* The numbers under "Audit Observations" correspond to the numbers in the Checklist of Common Audit Observations
Legend: √ - Yes, x - No, √ x - Partly
376
Table IV-5
Tabulation of Audit Opinions Rendered
Name of Government Corporations Type of Opinion

U Q A D
1 Al-Amanah Islamic Investment Bank of the Philippines P
2 Bangko Sentral ng Pilipinas P
3 Central Bank Board of Liquidators P
4 Credit Information Corporation P
5 DBP Data Center, Inc. P
6 DBP Leasing Corporation P
7 DBP Management Corporation P
8 Development Bank of the Philippines P
9 Land Bank of the Philippines P
10 Land Bank Countryside Development Foundation, Inc. P
11 Land Bank Resources and Development Corporation P
12 LBP Insurance Brokerage, Inc. P
13 LBP Leasing and Finance Corporation P
14 Masaganang Sakahan, Inc. P
15 Northern Foods Corporation P
16 Overseas Filipino Bank, Inc. P
17 Philippine Deposit Insurance Corporation P
18 Philippine International Convention Center, Inc. P

1 AFP Retirement and Separation Benefits System P
2 Employees’ Compensation Commission P
3 Government Service Insurance System P
4 Home Development Mutual Fund P
5 Home Guaranty Corporation P
6 National Home Mortgage Finance Corporation P
7 National Housing Authority P
8 Palacio Del Gobernador Condominium Corporation P
9 Small Business Gurantee and Finance Corporation P
10 Social Housing Finance Corporation P
11 Southern Utilities Management Services, Inc. P
12 Trade and Investment Development Corporation of the Philippines P

1 APO Production Unit, Inc. P
2 Cebu Port Authority P
3 Light Rail Transit Authority P
4 Local Water Utilities Administration P
5 Metropolitan Waterworks and Sewerage System P
6 National Electrification Administration P
377
Table IV-5

U Q A D
7 National Power Corporation P
19 National Transmission Corporation P
9 Philippine National Oil Company P
10 PNOC Alternative Fuels Corporation P
11 PNOC Development and Management Corporation P
12 PNOC Exploration Corporation P
13 PNOC Renewables Corporation P
14 PNOC Shipping and Transport Corporation P
15 Philippine National Railways P
16 Philippine Ports Authority P
17 Philippine Postal Corporation P
18 Power Sector Assets and Liabilities Management Corporation P

1 Alabang - Sto. Tomas Development, Inc. P
2 Aurora Pacific Economic Zone and Freeport Authority P
3 Authority of Freeport Area of Bataan P
4 Bases Conversion and Development Authority P
5 Batangas Land Company, Inc. P
6 BCDA Management and Holdings, Inc. P
7 Cagayan Economic Zone Authority P
8 CDCP Farms Corporation P
9 Civil Aviation Authority of the Philippines P
10 Clark Development Corporation P
11 Clark International Airport Corporation P
12 Corregidor Foundation, Inc. P
13 DISC Contractors Builders and General Services, Inc. P
14 First Cavite Industrial Estate Inc. P
15 GY Real Estate, Inc. P
16 Inter-Island Gas Services, Inc. P
17 John Hay Management Corporation P
18 Kamayan Realty Corporation P
19 Laguna Lake Development Authority P
20 Mactan-Cebu International Airport Authority P
21 Manila Gas Corporation P
22 Manila International Airport Authority P
23 National Development Company P
24 NDC-Philippine Infrastructure Corporation P
378
Table IV-5

U Q A D
25 North Luzon Railways Corporation P
26 Northeastern Luzon Pacific Coastal Service Inc. P
27 Partido Development Administration P
28 PEA Tollways Corporation P
29 Philippine Aerospace Development Corporation P
30 Philippine Economic Zone Authority P
31 Philippine National Construction Corporation P
32 Philippine Reclamation Authority P
33 PHIVIDEC Industrial Authority P
34 Pinagkaisa Realty Corporation P
35 Poro Point Management Corporation P
36 Southern Philippines Development Authority P
37 Subic Bay Metropolitan Authority P
38 Subic-Clark Alliance Development Corporation P
39 Tourism Infrastructure and Enterprise Zone Authority P
40 Zamboanga City Special Economic Zone Authority P

1 Bukidnon Forest, Inc.*
2 Food Terminal, Inc. P
3 Human Settlements Development Corporation P
4 National Agribusiness Corporation*
5 National Dairy Authority P
6 National Food Authority P
7 National Irrigation Administration P
8 National Tobacco Administration P
9 NIA Consult, Inc.*
10 Natural Resources Development Corporation P
11 Philippine Agricultural Development and Commercial
Corporation*
12 Philippine Coconut Authority P
13 Philippine Crop Insurance Corporation**
14 Philippine Fisheries Development Authority P
15 Philippine Forest Corporation*
16 Philippine Mining Development Corporation P
17 Philippine Rice Research Institute P
18 Philippine Sugar Corporation P
19 Quedan and Rural Credit Guarantee Corporation P
20 Sugar Regulatory Administration P
21 ZNAC Rubber Estate Corporation*

1 Boy Scouts of the Philippines P
2 Center for International Trade Expositions and Missions P
379
Table IV-5

U Q A D
3 Cultural Center of the Philippines P
4 Development Academy of the Philippines P
5 Duty Free Philippines Corporation*
6 Intercontinental Broadcasting Corp. P
7 Lung Center of the Philippines P
8 National Kidney and Transplant Institute P
9 Nayong Pilipino Foundation, Inc.*
10 People's Television Network, Inc. P
11 Philippine Amusement and Gaming Corporation P
12 Philippine Center for Economic Development P
13 Philippine Charity Sweepstakes Office P
14 Philippine Children's Medical Center P
15 Philippine Heart Center P
16 Philippine Health Insurance Corporation P
17 Philippine Institute for Development Studies P
18 Philippine Institute of Traditional and Alternative Health Care P
19 Philippine International Trading Corporation P
20 Philippine Pharma Procurement Inc. (formerly PITC Pharma, Inc.) P
21 Philippine Retirement Authority P
22 Tourism Promotions Board P
23 Veterans Federation of the Philippines P
Legend:
U - Unmodified
Q - Qualified
A - Adverse
D - Disclaimer
* - With Management Letter (ML); No Audit Opinion; No FS Received
** - With ML; No Audit Opinion; With FS Received
Recapitulations:
U- 55
Q- 50
A- 12 123
D- 6
380
Table IV-6
Status of Implementation of Prior Years' Audit Recommendations

December 31, 2018
Total Number of Fully Partially Not

Recommendations Implemented Implemented Implemented
1 Al-Amanah Islamic Investment Bank of the Philippines 9 6 2 1
2 Bangko Sentral ng Pilipinas 35 19 15 1
3 Central Bank Board of Liquidators - - - -
4 Credit Information Corporation 1 1 - -
5 DBP Data Center, Inc. 32 24 1 7
6 DBP Leasing Corporation 9 8 1 -
7 DBP Management Corporation 1 - 1 -
8 Development Bank of The Philippines 78 60 14 4
9 Land Bank of the Philippines 83 51 30 2
10 Land Bank Countryside Development Foundation, Inc. - - - -
381
11 Land Bank Resources and Development Corporation 13 6 5 2

12 LBP Insurance Brokerage, Inc. 7 2 3 2
13 LBP Leasing and Finance Corporation 14 9 5 -
14 Masaganang Sakahan, Inc. 8 3 2 3
15 Northern Foods Corporation 48 9 29 10
16 Overseas Filipino Bank, Inc. 31 20 7 4
17 Philippine Deposit Insurance Corporation 24 11 11 2
18 Philippine International Convention Center, Inc. 10 7 1 2
403 236 127 40

1 AFP Retirement and Separation Benefits System 52 11 28 13
2 Employees' Compensation Commission 22 12 10 -
3 Government Service Insurance System 127 36 48 43
4 Home Development Mutual Fund 206 139 60 7
5 Home Guaranty Corporation 54 18 31 5
6 National Housing Authority 74 12 52 10
7 National Home Mortgage Finance Corporation 56 31 17 8
Table IV-6

8 Palacio del Gobernador Condominium Corporation 15 4 5 6
9 Small Business Guarantee and Finance Corporation 15 10 5 -
10 Social Housing Finance Corporation 85 47 17 21
11 Southern Utility Management and Services, Inc. 16 4 2 10
12 Trade & Investment Development Corporation of the Philippines 75 10 38 27
797 334 313 150

1 APO Production Unit, Inc. 50 12 10 28
2 Cebu Port Authority 30 6 13 11
3 Light Rail Transit Authority 40 7 20 13
4 Local Water Utilities Administration 86 44 38 4
5 Metropolitan Waterworks and Sewerage System 128 39 14 75
6 National Electrification Administration 100 48 35 17
382
7 National Power Corporation 57 48 6 3

8 National Transmission Corporation 31 21 7 3
9 Philippine National Oil Company 34 20 13 1
10 PNOC Alternative Fuels Corporation 19 5 8 6
11 PNOC Development and Management Corporation 19 6 8 5
12 PNOC Exploration Corporation 26 5 18 3
13 PNOC Renewables Corporation 20 8 11 1
14 PNOC Shipping and Transport Corporation 21 7 12 2
15 Philippine National Railways 88 22 21 45
16 Philippine Ports Authority 144 77 46 21
17 Philippine Postal Corporation 138 52 71 15
18 Power Sector Assets and Liabilities Management Corporation 63 41 16 6
1,094 468 367 259

1 Alabang - Sto. Tomas Development, Inc. - - - -
2 Aurora Pacific Economic Zone and Freeport Authority 46 6 20 20
3 Authority of the Freeport Area of Bataan 15 10 5 -
Table IV-6

4 Bases Conversion and Development Authority 39 28 8 3
5 Batangas Land Company, Inc. - - - -
6 BCDA Management and Holdings, Inc. 8 8 - -
7 Cagayan Economic Zone Authority 12 8 3 1
8 CDCP Farms Corporation 1 - 1 -
9 Civil Aviation Authority of the Philippines 88 48 27 13
10 Clark Development Corporation 45 24 21 -
11 Clark International Airport Corporation 21 18 3 -
12 Corregidor Foundation, Inc. 7 5 - 2
13 DISC Contractors Builders and General Services, Inc. - - - -
14 First Cavite Industrial Estate Inc. - - - -
15 GY Real Estate, Inc. - - - -
16 John Hay Management Corporation 28 19 6 3
17 Inter-Island Gas Services, Inc. - - - -
18 Kamayan Realty Corporation - - - -
383
19 Laguna Lake Development Authority 47 23 20 4

20 Manila Gas Corporation - - - -
21 Mactan-Cebu International Airport Authority 52 16 26 10
22 Manila International Airport Authority 20 14 3 3
23 National Development Company 25 14 6 5
24 NDC-Philippine Infrastructure Corporation 1 1 - -
25 North Luzon Railways Corporation 13 7 6 0
26 Northeastern Luzon Pacific Coastal Service Inc. 1 1 - -
27 Partido Development Administration 58 18 36 4
28 PEA Tollways Corporation 4 3 1 -
29 Philippine Aerospace Development Corporation 20 11 1 8
30 Philippine Economic Zone Authority 91 51 23 17
31 Philippine National Construction Corporation 55 24 20 11
32 Philippine Reclamation Authority 20 9 9 2
33 PHIVIDEC Industrial Authority 59 33 14 12
34 Pinagkaisa Realty Corporation - - - -
35 Poro Point Management Corporation 3 2 - 1
36 Subic Bay Metropolitan Authority 77 26 50 1
Table IV-6

37 Subic Clark Alliance for Development 11 9 2 -
38 Southern Philippines Development Athority 77 27 - 50
39 Tourism Infrastructure and Enterprise Zone Authority 116 47 41 28
40 Zamboanga City Special Economic Zone Authority 23 6 13 4
1,083 516 365 202

1 Bukidnon Forest, Inc. 6 - 4 2
2 Food Terminal, Inc. 37 20 14 3
3 Human Settlements Development Corporation 34 15 7 12
4 National Agribusiness Corporation - - - -
5 National Dairy Authority 87 63 22 2
6 National Food Authority 241 52 168 21
7 National Irrigation Administration 69 19 35 15
8 National Tobacco Administration 80 67 9 4
384
9 Natural Resources Development Corporation 96 15 35 46

10 NIA Consult, Inc. 7 7 - -
11 Philippine Agricultural Development and Commercial Corporation* 2 2 - -
12 Philippine Coconut Authority 133 79 41 13
13 Philippine Crop Insurance Corporation** 92 51 20 21
14 Philippine Fisheries Development Authority 58 28 26 4
15 Philippine Forest Corporation* 13 7 4 2
16 Philippine Mining Development Corporation 29 24 5 -
17 Philippine Rice Research Institute 45 13 28 4
18 Philippine Sugar Corporation 8 8 - -
19 Quedan and Rural Credit Guarantee Corporation 51 16 25 10
20 Sugar Regulatory Administration 35 31 2 2
21 ZNAC Rubber Estate Corporation* - - - -
1,123 517 445 161
Table IV-6

1 Boy Scouts of the Philippines 119 25 64 30
2 Center for International Trade Expositions and Missions 21 14 6 1
3 Cultural Center of the Philippines 23 11 5 7
4 Development Academy of the Philippines 21 14 5 2
5 Duty Free Philippines Corporation* 14 9 3 2
6 Intercontinental Broadcasting Corporation 20 3 5 12
7 Lung Center of the Philippines 20 8 12 -
8 National Kidney and Transplant Institute 17 10 7 -
9 Nayong Pilipino Foundation* 48 15 20 13
10 People's Television Network Incorporated 43 2 26 15
11 Philippine Amusement and Gaming Corporation 93 52 29 12
12 Philippine Center for Economic Development 11 7 4 -
13 Philippine Charity Sweepstakes Office 70 22 45 3
14 Philippine Children's Medical Center 24 15 5 4
385
15 Philippine Health Insurance Corporation 35 15 17 3

16 Philippine Heart Center 16 10 6 -
17 Philippine Institute for Development Studies 2 1 1 -
18 Philippine Institute of Traditional and Alternative Health Care 39 20 12 7
19 Philippine International Trading Corporation 8 6 1 1
20 Philippine Pharma Procurement, Inc. 7 2 3 2
21 Philippine Retirement Authority 30 13 16 1
22 Tourism Promotions Board 61 14 32 15
23 Veterans Federation of the Philippines 29 3 13 13
771 291 337 143
Grand Total 5,271 2,362 1,954 955
*Management Letter was issued in lieu of Annual Audit Report; No FS submitted.

**Management Letter was issued in lieu of Annual Audit Report; With FS submitted.
PART V
COMBINED
BY CLUSTER
Government Corporations By Cluster
(in thousand pesos)
Cluster 2 - Social Security

Total Cluster 1 - Banking and Credit
Services and Housing
2018 2017 2018 2017 2018 2017
(Restated) (Restated) (Restated)
ASSETS
Current Assets
Cash and Cash Equivalents 921,784,087 867,710,462 610,940,248 573,779,308 51,836,818 77,989,139
International Reserves 4,140,162,681 4,056,596,053 4,140,162,681 4,056,596,053 - -
Financial Assets 539,983,642 1,006,433,739 242,217,816 276,141,544 274,038,104 712,104,839
Other Investments 56,398,294 73,215,226 3,802,642 5,401,974 5,779,316 14,796,381
Receivables 1,380,133,041 1,554,785,212 530,809,398 730,081,605 258,819,419 219,989,368
Inventories 97,649,125 84,964,666 11,476,307 8,739,048 57,190,724 48,144,763
Non-Current Assets Held for Sale 10,664,890 13,331,621 1,251,943 685,041 9,393,035 12,626,368
Other Current Assets 71,948,972 79,623,586 9,044,719 11,564,230 3,994,310 3,777,981
Total Current Assets 7,218,724,731 7,736,660,565 5,549,705,752 5,662,988,802 661,051,725 1,089,428,837
Non-Current Assets
Non-International Reserves Foreign Assets 93,407,616 91,737,574 93,407,616 91,737,574 - -
Financial Assets 1,962,780,410 1,368,154,758 988,871,332 843,717,739 817,309,806 391,312,584
Investments in Joint Venture 6,679,898 7,101,676 49,675 49,675 4,862,599 5,351,448
Investments in Associates/Affiliates 17,189,588 17,421,214 592,242 72,514 2,018,139 2,141,513
Investments in Subsidiaries 183,274,261 245,757,474 3,117,584 2,103,673 16,385,761 16,151,356
Receivables 2,076,908,506 1,536,810,819 905,863,433 404,320,145 725,759,211 673,400,205
Investment Property 355,211,214 324,297,443 22,615,059 23,514,622 171,621,177 135,390,486
Property, Plant and Equipment 1,150,687,828 1,043,380,863 35,039,206 33,964,953 28,397,778 19,863,107
Biological Assets 658,174 658,433 43 43 - -
Intangible Assets 3,438,421 3,779,223 1,916,647 2,064,650 686,730 686,635
Deferred Tax Assets 15,878,324 18,093,341 8,692,542 11,433,103 829,074 708,120
Other Non-Current Assets 87,615,216 87,791,199 1,866,537 1,757,988 18,125,522 15,939,650
Total Non-Current Assets 6,090,241,458 4,872,004,660 2,105,535,275 1,454,665,805 1,788,755,229 1,263,638,054
Total Assets 13,308,966,189 12,608,665,225 7,655,241,027 7,117,654,607 2,449,806,954 2,353,066,891
LIABILITIES
Current Liabilities
Financial Liabilities 776,772,492 699,586,874 407,399,351 385,427,003 69,797,382 62,805,214
Deposit Liabilities 2,262,981,066 2,136,274,118 2,262,981,066 2,136,274,118 - -
Inter-Agency Payables 595,226,379 567,312,795 187,121,558 177,093,496 3,650,150 5,707,525
Intra-Agency Payables 304,672,844 305,477,560 - - 6,966 5,284
Trust Liabilities 91,308,842 68,532,174 13,514,922 15,112,574 26,700,048 16,170,529
Deferred Credits/Unearned Income 35,478,699 38,761,915 4,013,109 3,387,490 3,033,117 2,455,711
Provisions 12,370,327 11,472,499 28,308 20,289 1,608,834 1,240,130
Other Payables 88,404,641 78,690,419 26,920,246 30,602,504 14,994,916 13,378,655
Total Current Liabilities 4,167,215,290 3,906,108,353 2,901,978,560 2,747,917,473 119,791,415 101,763,047
Currency Issued 1,490,240,286 1,267,269,737 1,490,240,286 1,267,269,737 - -
Deposit Liabilities 2,055,796,868 2,124,599,492 2,055,796,868 2,124,599,492 - -
Inter-Agency Payables 29,617,887 33,001,382 - - 7,503,850 10,930,581
Intra-Agency Payables 18,437 20,653 - - - -
Trust Liabilities 57,983,702 51,638,834 273,936 216,879 24,001,084 20,803,851
Deferred Credits/Unearned Income 281,835,192 296,575,030 87,707 99,305 22,857,154 26,396,851
Provisions 35,835,693 34,618,860 3,672,418 3,281,213 1,960,588 2,333,068
Deferred Tax Liabilities 13,493,572 12,596,303 8,944 7,768 778,620 733,224
Other Payables 553,544,790 404,606,080 536,348,962 383,158,429 8,720,122 13,576,818
Total Non-Current Liabilities 5,262,971,108 5,045,634,091 4,281,323,683 3,974,773,157 92,885,270 102,186,077
Total Liabilities 9,430,186,399 8,951,742,444 7,183,302,243 6,722,690,630 212,676,685 203,949,125
NET ASSETS/EQUITY
Government Equity 581,288,670 637,232,349 3,082,606 3,128,576 124,862,248 126,137,415
Revaluation Surplus 185,509,501 121,072,068 61,200 61,200 28,796,042 18,985,982
Retained Earnings/(Deficit) 2,449,943,155 2,228,039,383 360,684,438 296,196,675 1,739,767,234 1,639,050,501
Stockholders' Equity 284,962,357 276,850,346 100,464,840 92,969,472 16,707,958 16,207,958
Cumulative Translation Adjustment 255,428 (1,220) 231,756 - - -
Cumulative Changes in Fair Value (32,889,097) 31,519,847 7,413,945 2,608,054 (82,712,989) (13,474,096)
Members’ Equity 409,709,776 362,210,007 - - 409,709,776 362,210,007
Total Net Assets/Equity 3,878,779,791 3,656,922,781 471,938,784 394,963,977 2,237,130,269 2,149,117,767
Total Liabilities and Net Assets/Equity 13,308,966,189 12,608,665,225 7,655,241,027 7,117,654,607 2,449,806,954 2,353,066,891
386
(in thousand pesos)
Cluster 4 - Industrial and Area Cluster 5 - Agricultural and

Development Natural Resources
2018 2017 2018 2017 2018 2017
ASSETS
Current Assets
International Reserves - - - - - -
Financial Assets 4,549,474 4,107,270 15,777,078 11,417,367 1,534,667 1,502,888
Other Investments 5,418,464 7,354,784 36,235,553 33,024,622 654,712 7,780,658
Receivables 195,720,952 217,156,184 18,373,143 17,335,553 344,132,249 346,161,789
Inventories 21,135,157 20,753,163 2,185,990 1,907,981 4,174,099 4,216,682
Non-Current Assets Held for Sale 541 842 19,371 19,371 - -
Other Current Assets 46,794,241 56,109,889 4,254,125 2,637,523 6,389,249 4,582,746
Total Current Assets 344,873,198 376,507,451 114,880,827 103,201,203 374,625,054 386,572,340
Non-Current Assets
Non-International Reserves Foreign Assets - - - - - -
Investments in Joint Venture 482,577 357,816 1,133,231 1,065,921 - -
Investments in Associates/Affiliates 99,978 99,978 14,479,229 15,107,209 - -
Investments in Subsidiaries 159,819,230 223,545,759 3,951,685 3,956,685 - -
Receivables 411,859,712 445,352,705 32,377,786 12,727,378 635,439 594,261
Investment Property 16,120,178 16,330,220 121,041,733 118,372,724 425,384 431,677
Property, Plant and Equipment 545,567,563 536,903,601 238,615,631 186,555,004 280,289,190 243,902,792
Biological Assets 158 162 - - 657,972 658,227
Intangible Assets 152,814 273,665 67,936 61,643 8,202 7,958
Deferred Tax Assets 1,110,840 1,891,439 4,608,997 3,784,487 - 1,002
Total Non-Current Assets 1,191,361,110 1,280,738,160 444,908,722 375,298,081 360,181,083 319,149,484
Total Assets 1,536,234,308 1,657,245,612 559,789,549 478,499,284 734,806,137 705,721,824
LIABILITIES
Current Liabilities
Deposit Liabilities - - - - - -
Intra-Agency Payables 3,620,833 3,743,670 316,568 316,187 300,534,453 301,118,526
Trust Liabilities 12,932,499 11,402,587 2,135,769 1,603,810 2,725,163 2,308,440
Deferred Credits/Unearned Income 24,170,007 29,214,451 893,673 1,489,654 3,246,791 1,995,411
Provisions 9,367,901 9,127,603 932,752 847,861 408,365 216,017
Other Payables 16,526,214 17,413,455 5,797,290 5,621,336 3,875,663 3,914,431
Total Current Liabilities 437,668,275 403,462,005 43,608,937 44,020,283 524,468,889 511,472,190
Currency Issued - - - - - -
Inter-Agency Payables 4,925,953 4,938,580 16,831,683 17,045,936 8,560 8,620
Intra-Agency Payables - 2,216 18,437 18,437 - -
Trust Liabilities 6,603,333 8,441,032 4,074,763 3,810,483 324,439 185,657
Provisions 1,332,590 1,391,774 828,576 915,411 712,141 683,029
Deferred Tax Liabilities 3,903,600 4,393,686 8,594,100 7,460,075 - -
Other Payables 2,862,465 2,431,951 4,236,265 3,741,876 22,747 23,484
Total Non-Current Liabilities 653,322,447 730,389,059 96,088,368 94,067,526 84,958,450 96,200,056
Total Liabilities 1,090,990,721 1,133,851,064 139,697,305 138,087,809 609,427,340 607,672,246
NET ASSETS/EQUITY
Revaluation Surplus 90,928,706 89,395,924 59,282,045 6,053,043 6,014,268 6,148,678
Retained Earnings/(Deficit) 123,494,299 117,107,455 87,888,016 63,953,343 610,152 123,337
Stockholders' Equity 38,309,614 38,309,566 128,257,495 128,140,900 884,451 884,451
Cumulative Translation Adjustment 23,672 (1,220) - - - -
Cumulative Changes in Fair Value 42,395,334 42,384,894 100,509 30,321 1,784 (1,537)
Members’ Equity - - - - - -
Total Net Assets/Equity 445,243,587 523,394,547 420,092,244 340,411,475 125,378,798 98,049,578
Total Liabilities and Net Assets/Equity 1,536,234,308 1,657,245,612 559,789,549 478,499,284 734,806,137 705,721,824
387
(in thousand pesos)
Cluster 6 - Social, Cultural,
Trading, Promotional and Other
Services
2018 2017
(Restated)
ASSETS
Current Assets
Cash and Cash Equivalents 131,977,006 85,730,332
International Reserves - -
Financial Assets 1,866,503 1,159,832
Receivables 32,277,880 24,060,715
Inventories 1,486,849 1,203,029
Non-Current Assets Held for Sale - -
Other Current Assets 1,472,329 951,216
Total Current Assets 173,588,174 117,961,931
Non-Current Assets
Non-International Reserves Foreign Assets - -
Financial Assets 128,437,590 105,630,176
Investments in Joint Venture 151,816 276,816
Investments in Associates/Affiliates - -
Investments in Subsidiaries - -
Other Investments 1,004,274 915,644
Receivables 412,925 416,125
Investment Property 23,387,684 30,257,714
Property, Plant and Equipment 22,778,460 22,191,406
Biological Assets - -
Intangible Assets 606,093 684,672
Deferred Tax Assets 636,871 275,190
Other Non-Current Assets 22,084,327 17,867,332
Total Non-Current Assets 199,500,039 178,515,076
Total Assets 373,088,213 296,477,007
LIABILITIES
Current Liabilities
Financial Liabilities 64,674,282 56,420,629
Deposit Liabilities - -
Intra-Agency Payables 194,024 293,894
Deferred Credits/Unearned Income 122,003 219,198
Provisions 24,168 20,599
Other Payables 20,290,311 7,760,038
Total Current Liabilities 139,699,215 97,473,354
Financial Liabilities 159,969 225,785
Currency Issued - -
Inter-Agency Payables 347,840 77,665
Intra-Agency Payables - -
Deferred Credits/Unearned Income 2,287,015 1,844,396
Provisions 27,329,380 26,014,366
Deferred Tax Liabilities 208,309 1,550
Other Payables 1,354,229 1,673,522
Total Non-Current Liabilities 54,392,890 48,018,216
Total Liabilities 194,092,105 145,491,570
NET ASSETS/EQUITY
Revaluation Surplus 427,240 427,240
Retained Earnings/(Deficit) 137,499,017 111,608,072
Stockholders' Equity 338,000 338,000
Cumulative Translation Adjustment - -
Cumulative Changes in Fair Value (87,680) (27,789)
Members’ Equity - -
Total Net Assets/Equity 178,996,109 150,985,437
Total Liabilities and Net Assets/Equity 373,088,213 296,477,007
388
Government Corporations by Cluster
(in thousand pesos)
Cluster 1 - Banking and Cluster 2 - Social Security

Total
Credit Services and Housing
2018 2017 2018 2017 2018 2017

Income
Tax Revenue 3,181,864 2,852,449 - - - -
Service and Business Income 1,102,367,449 961,339,684 209,957,626 170,176,197 442,822,371 399,064,456
Shares, Grants and Donations 30,778,217 20,180,941 29,331 24,291 200,515 -
Gains 305,514,352 165,684,538 56,105,547 19,293,661 177,471,516 134,928,195
Other Non-Operating Income 21,228,419 28,146,923 4,215,367 14,880,593 12,858,667 5,371,164
Total Income 1,463,070,300 1,178,204,536 270,307,871 204,374,742 633,353,069 539,363,815
Expenses
Personnel Services 97,041,567 89,504,073 33,205,955 29,526,966 18,105,734 16,059,387
Expenses 630,680,486 569,677,805 45,851,861 36,369,264 300,424,067 279,387,164
Financial Expenses 92,765,319 91,529,547 58,107,552 58,004,784 1,048,040 1,023,336
Direct Costs 34,985,075 29,672,563 670,528 664,835 1,390,771 160,652
Non-Cash Expenses 303,169,682 164,461,827 47,510,533 26,878,937 183,904,614 95,128,180
Total Expenses 1,158,642,128 944,845,814 185,346,428 151,444,785 504,873,226 391,758,719
Profit/(Loss) Before Tax 304,428,171 233,358,722 84,961,443 52,929,957 128,479,843 147,605,097

Income Tax Expense 30,220,565 13,088,794 17,120,535 2,978,337 970,059 219,970
Profit/(Loss) After Tax 274,207,606 220,269,927 67,840,908 49,951,620 127,509,784 147,385,127
Net Assistance/Subsidy 34,876,065 63,124,636 67,971 47,574 993,367 22,105,950
Net Income/(Loss) 309,083,671 283,394,564 67,908,879 49,999,194 128,503,151 169,491,077
(Loss) for the Period (54,342,237) 6,799,456 5,037,647 3,484,483 (59,428,833) 3,432,448
Comprehensive Income/(Loss) 254,741,434 290,194,020 72,946,526 53,483,678 69,074,319 172,923,525
389
(in thousand pesos)
Cluster 4 - Industrial and Cluster 5 - Agricultural and

Area Development Natural Resources
2018 2017 2018 2017 2018 2017

Income
Tax Revenue - - 3,181,864 2,852,449 - -
Service and Business Income 153,617,900 140,835,412 47,550,135 41,975,244 22,033,927 21,265,504
Shares, Grants and Donations 30,311,644 19,812,135 198 - 94,249 18,451
Gains 9,473,046 1,361,692 28,047,293 7,081,128 175,338 2,687,262
Other Non-Operating Income 1,498,559 934,606 1,497,158 5,885,726 1,038,115 906,626
Total Income 194,901,150 162,943,845 80,276,647 57,794,549 23,341,629 24,877,843
Expenses
Expenses 80,871,448 74,376,871 11,759,168 13,668,599 5,997,796 5,939,677
Direct Costs 8,770,258 6,649,367 71,316 51,377 23,658,629 21,659,836
Total Expenses 176,176,051 144,437,055 34,763,270 33,562,405 49,935,495 42,601,482
Profit/(Loss) Before Tax 18,725,099 18,506,790 45,513,377 24,232,144 (26,593,866) (17,723,639)

Profit/(Loss) After Tax 12,570,666 13,692,285 40,682,007 20,316,572 (26,819,188) (18,682,868)
Net Assistance/Subsidy (7,705,450) (931,435) (5,911,784) (2,804,244) 52,378,014 42,593,306
Net Income/(Loss) 4,865,216 12,760,850 34,770,223 17,512,328 25,558,826 23,910,438
(Loss) for the Period 35,331 (11,229) 70,187 (75,121) 3,321 (18,993)
390
(in thousand pesos)

Trading, Promotional and
Other Services
2018 2017
(Restated)
Income
Tax Revenue - -
Service and Business Income 226,385,490 188,022,870
Shares, Grants and Donations 142,280 326,064
Gains 34,241,611 332,599
Other Non-Operating Income 120,552 168,208
Total Income 260,889,933 188,849,741
Expenses
Personnel Services 16,902,581 17,175,856
Expenses 185,776,146 159,936,231
Financial Expenses 176,577 168,872
Direct Costs 423,574 486,496
Non-Cash Expenses 4,268,780 3,273,914
Total Expenses 207,547,658 181,041,368
Profit/(Loss) Before Tax 53,342,275 7,808,372

Income Tax Expense 918,846 201,181
Profit/(Loss) After Tax 52,423,429 7,607,191
Net Assistance/Subsidy (4,946,053) 2,113,485
Net Income/(Loss) 47,477,376 9,720,676
(Loss) for the Period (59,891) (12,133)
Comprehensive Income/(Loss) 47,417,485 9,708,544
391
(in thousand pesos)

TOTAL Cluster 1 - Banking and Credit
2018 2017 2018 2017 2018 2017

GOVERNMENT EQUITY
Beginning balance 637,232,349 545,266,922 3,128,576 3,145,346 126,137,415 105,927,501
Adjustments: - 47,016,541 - - - 252,344
Add/(Deduct):
Changes in Accounting Policy - 50,064,357 - - - -
Prior Period Errors - 11,678,120 - - - 252,344
Other Adjustments - (14,725,935) - - - -
Restated Balance 637,232,349 592,283,463 3,128,576 3,145,346 126,137,415 106,179,845
Changes in Equity for the Year (55,943,679) 44,948,886 (45,971) (16,770) (1,275,166) 19,957,570
Add/(Deduct):
Additional Capital from National Government 624,496 1,955,995 - - - 1,726,700
Surplus/(Deficit) for the period 18,738,207 45,052,241 (46,148) (16,643) (1,246,085) 18,250,518
Dividends (1,766,479) (1,871,338) - - (32,263) (18,220)
Changes in fair value of available-for-sale securities (1,913) (381,647) - - - -
Other Adjustments (73,537,990) 193,635 177 (127) 3,182 (1,428)
Ending Balance 581,288,670 637,232,349 3,082,606 3,128,576 124,862,248 126,137,415
REVALUATION SURPLUS
Beginning balance 121,072,068 220,274,514 61,200 61,200 18,985,982 19,690,001
Adjustments: - (109,007,526) - - - (704,019)
Add/(Deduct):
Changes in Accounting Policy - (98,718,800) - - - -
Prior Period Errors - (3,675,135) - - - -
Other Adjustments - (6,613,591) - - - (704,019)
Restated Balance 121,072,068 111,266,988 61,200 61,200 18,985,982 18,985,982
Changes in Equity for the Year 64,437,434 9,805,079 - - 9,810,060 -

Add/(Deduct):
Other Comprehensive Income/Loss for 9,810,060 (74,872) - - 9,810,060 -
Other Adjustments 54,627,374 9,879,951 - - - -
Ending Balance 185,509,501 121,072,068 61,200 61,200 28,796,042 18,985,982
RETAINED EARNINGS/(DEFICIT)
Beginning balance 2,228,039,383 2,061,069,712 296,196,675 238,887,136 1,639,050,501 1,533,156,020
Adjustments: - (39,700,465) - 271,648 - (22,042,926)
Add/(Deduct):
Changes in Accounting Policy - (5,877,617) - - - 693,111
Prior Period Errors - (14,159,979) - 305,569 - (1,616,466)
Other Adjustments - (19,662,869) - (33,921) - (21,119,570)
Restated Balance 2,228,039,383 2,021,369,247 296,196,675 239,158,784 1,639,050,501 1,511,113,094
Changes in Equity for the Year 221,903,772 206,670,136 64,487,763 57,037,891 100,716,733 127,937,407
Add/(Deduct):
Net Income/Loss for the Year 290,345,464 238,342,322 67,955,027 50,015,837 129,749,237 151,240,559
Dividends (76,934,617) (50,831,741) (13,987,652) (12,141,639) (28,788,833) (22,987,041)
Other Adjustments 8,492,924 19,159,555 10,520,387 19,163,693 (243,671) (316,110)
Ending Balance 2,449,943,155 2,228,039,383 360,684,438 296,196,675 1,739,767,234 1,639,050,501
STOCKHOLDER'S EQUITY
Changes in Equity for the Year 8,112,011 28,174,465 7,495,368 3,184,000 500,000 -
Add/(Deduct):
Issuances of Share Capital 2,553,920 361,415 2,437,325 3,000 - -
Additional Capital from National Government 5,809,778 3,181,000 5,309,778 3,181,000 500,000 -
Dividends - (40,000) - - - -
Other Adjustments (251,687) 24,672,050 (251,735) 0 - -
Ending Balance 284,962,357 276,850,346 100,464,840 92,969,472 16,707,958 16,207,958
392
(in thousand pesos)

2018 2017 2018 2017 2018 2017

CUMULATIVE TRANSLATION ADJUSTMENT

Beginning balance (1,220) 13,341 - - - -
Changes in Equity for the Year 256,648 (14,561) 231,756 - - -
Add/(Deduct):
Other Comprehensive Income/Loss for 256,648 (14,561) 231,756 - - -
Ending Balance 255,428 (1,220) 231,756 - - -
CUMULATIVE CHANGES IN FAIR VALUE

OF INVESTMENTS
Beginning balance 31,519,847 24,664,489 2,608,054 (876,430) (13,474,096) (16,996,571)
Adjustments: - 74,536 - - - 90,192
Add/(Deduct):
Changes in Accounting Policy - 90,192 - - - 90,192
Other Adjustments - (15,656) - - - -
Restated Balance 31,519,847 24,739,025 2,608,054 (876,430) (13,474,096) (16,906,379)
Changes in Equity for the Year (64,408,944) 6,780,822 4,805,891 3,484,483 (69,238,892) 3,432,283
Add/(Deduct):
Changes in fair value of available-for- (64,408,944) 6,890,576 4,805,891 3,484,483 (69,238,892) 3,432,448
Other Adjustments - (109,754) - - - (165)
Ending Balance (32,889,097) 31,519,847 7,413,945 2,608,054 (82,712,989) (13,474,096)
MEMBERS' EQUITY
Beginning balance 362,210,007 318,372,760 - - 362,210,007 318,372,760
Changes in Equity for the Year 47,499,769 43,837,247 - - 47,499,769 43,837,247
Add/(Deduct):
Member's Contribution 40,732,963 33,880,667 - - 40,732,963 33,880,667
Dividends 27,293,615 22,301,678 - - 27,293,615 22,301,678
Other Adjustments (20,526,809) (12,345,098) - - (20,526,809) (12,345,098)
Ending Balance 409,709,776 362,210,007 - - 409,709,776 362,210,007
Total Equity 3,878,779,791 3,656,922,781 471,938,784 394,963,977 2,237,130,269 2,149,117,767
393
(in thousand pesos)

2018 2017 2018 2017 2018 2017

GOVERNMENT EQUITY
Adjustments: - 53,897,520 - (10,533,339) - (1,454,223)
Add/(Deduct):
Changes in Accounting Policy - 50,074,421 - - - -
Prior Period Errors - 16,850,447 - (10,533,339) - 5,206,372
Other Adjustments - (13,027,348) - - - (6,660,594)
Changes in Equity for the Year (86,105,966) (7,558,073) 2,330,312 2,007,405 26,973,494 28,535,506
Add/(Deduct):
Additional Capital from National Government 203,612 112,534 308,789 116,761 13,875 -
Surplus/(Deficit) for the period (8,866,438) 937,001 2,075,945 1,939,147 24,792,821 21,454,341
Dividends (1,450,924) (1,709,618) (45,137) (41,836) (238,155) (101,664)
Changes in fair value of available-for-sale securities - - - - - -
Other Adjustments (75,992,215) (6,897,991) (9,285) (6,666) 2,404,952 7,182,829
Ending Balance 150,091,963 236,197,929 144,564,179 142,233,868 117,868,142 90,894,648
REVALUATION SURPLUS
Beginning balance 89,395,924 192,651,941 6,053,043 783,611 6,148,678 6,660,521
Adjustments: - (108,303,507) - - - -
Add/(Deduct):
Restated Balance 89,395,924 84,348,435 6,053,043 783,611 6,148,678 6,660,521
Changes in Equity for the Year 1,532,782 5,047,489 53,229,001 5,269,433 (134,410) (511,843)
Add/(Deduct):
Other Comprehensive Income/Loss for - - - (74,872) - -
Other Adjustments 1,532,782 5,047,489 53,229,001 5,344,304 (134,410) (511,843)
Ending Balance 90,928,706 89,395,924 59,282,045 6,053,043 6,014,268 6,148,678
Beginning balance 117,107,455 108,244,961 63,953,343 56,372,786 123,337 (802,808)
Adjustments: - 18,245 - 462,306 - 12,794
Add/(Deduct):
Changes in Accounting Policy - 45,289 - 1,922 - -
Prior Period Errors - (18,400) - 1,061,924 - -
Other Adjustments - (8,644) - (601,540) - 12,794
Restated Balance 117,107,455 108,263,207 63,953,343 56,835,091 123,337 (790,014)
Changes in Equity for the Year 6,386,844 8,844,248 23,934,674 7,118,252 486,815 913,351
Add/(Deduct):
Net Income/Loss for the Year 13,731,654 11,823,849 32,694,278 15,573,181 766,005 2,456,097
Dividends (4,492,486) (2,999,578) (9,860,059) (8,654,136) (279,567) (1,208,912)
Other Adjustments (2,852,325) 19,977 1,100,455 199,207 377 (333,833)
Ending Balance 123,494,299 117,107,454 87,888,016 63,953,343 610,152 123,337
Beginning balance 38,309,566 38,309,566 128,140,900 103,150,435 884,451 884,451
Changes in Equity for the Year 48 - 116,595 24,990,465 - -
Add/(Deduct):
Issuances of Share Capital - - 116,595 358,415 - -
Additional Capital from National Government - - - - - -
Dividends - - - (40,000) - -
Other Adjustments 48 - - 24,672,050 - -
Ending Balance 38,309,614 38,309,566 128,257,495 128,140,900 884,451 884,451
394
(in thousand pesos)

2018 2017 2018 2017 2018 2017


Beginning balance (1,220) 13,341 - - - -
Changes in Equity for the Year 24,892 (14,561) - - - -
Add/(Deduct):
Other Comprehensive Income/Loss for 24,892 (14,561) - - - -
Ending Balance 23,672 (1,220) - - - -

OF INVESTMENTS
Beginning balance 42,384,894 42,381,562 30,321 138,472 (1,537) 17,456
Adjustments: - - - - - -
Add/(Deduct):
Changes in Accounting Policy - - - - - -
Other Adjustments - - - - - -
Restated Balance 42,384,894 42,381,562 30,321 138,472 (1,537) 17,456
Changes in Equity for the Year 10,440 3,332 70,187 (108,150) 3,321 (18,993)
Add/(Deduct):
Changes in fair value of available-for- 10,440 3,332 70,187 1,438 3,321 (18,993)
Other Adjustments - - - (109,589) - -
Ending Balance 42,395,334 42,384,894 100,509 30,321 1,784 (1,537)
MEMBERS' EQUITY
Beginning balance - - - - - -
Changes in Equity for the Year - - - - - -
Add/(Deduct):
Member's Contribution - - - - - -
Dividends - - - - - -
Ending Balance - - - - - -
Total Equity 445,243,587 523,394,547 420,092,244 340,411,475 125,378,798 98,049,578
395
(in thousand pesos)
Services
2018 2017
(Restated)
GOVERNMENT EQUITY
Beginning balance 38,639,913 31,762,426
Adjustments: - 4,854,240
Add/(Deduct):
Changes in Accounting Policy - (10,065)
Prior Period Errors - (97,703)
Other Adjustments - 4,962,008
Restated Balance 38,639,913 36,616,666
Changes in Equity for the Year 2,179,619 2,023,247

Add/(Deduct):
Additional Capital from National Government 98,220 -
Surplus/(Deficit) for the period 2,028,112 2,487,877
Dividends - -
Changes in fair value of available-for-sale securities (1,913) (381,647)
Other Adjustments 55,199 (82,983)
Ending Balance 40,819,532 38,639,913
REVALUATION SURPLUS
Beginning balance 427,240 427,240
Adjustments: - -
Add/(Deduct):
Changes in Accounting Policy - -
Prior Period Errors - -
Other Adjustments - -
Restated Balance 427,240 427,240
Changes in Equity for the Year - -

Add/(Deduct):
Other Comprehensive Income/Loss for - -
Ending Balance 427,240 427,240
Adjustments: - (18,422,532)
Add/(Deduct):
Changes in Accounting Policy - (6,617,939)
Prior Period Errors - (13,892,606)
Other Adjustments - 2,088,013
Changes in Equity for the Year 25,890,944 4,818,987

Add/(Deduct):
Net Income/Loss for the Year 45,449,264 7,232,799
Dividends (19,526,020) (2,840,434)
Other Adjustments (32,299) 426,622
Ending Balance 137,499,017 111,608,072
Add/(Deduct):
Issuances of Share Capital - -
Additional Capital from National Government - -
Dividends - -
396
(in thousand pesos)
Services
2018 2017
(Restated)

Beginning balance - -
Add/(Deduct):
Other Comprehensive Income/Loss for - -
Ending Balance - -

OF INVESTMENTS
Beginning balance (27,789) -
Adjustments: - (15,656)
Add/(Deduct):
Other Adjustments - (15,656)
Restated Balance (27,789) (15,656)
Changes in Equity for the Year (59,891) (12,133)

Add/(Deduct):
Changes in fair value of available-for- (59,891) (12,133)
Ending Balance (87,680) (27,789)
MEMBERS' EQUITY
Add/(Deduct):
Member's Contribution - -
Dividends - -
Ending Balance - -
Total Equity 178,996,109 150,985,437
397
(in thousand pesos)

2018 2017 2018 2017 2018 2017

Cash Inflows
Proceeds from Sale of Goods and Services 69,798,573 55,739,838 - - - -
Collection of Income/Revenue 868,545,497 781,525,050 207,812,673 179,376,583 343,478,309 303,750,787
Receipt of Assistance/Subsidy 111,573,385 122,663,237 67,971 47,574 1,721,295 21,465,428
Collection of Receivables 384,369,175 375,821,481 215,310,750 218,499,272 64,192,049 61,796,644
Receipt of Inter-Agency Fund Transfers 27,963,571 17,103,368 - - 4,112,909 2,352,890
Receipt of Intra-Agency Fund Transfers 33,169,169 37,568,868 - - 101,378 1,031
Trust Receipts 257,637,505 204,283,513 230,905,821 189,840,945 7,124,801 1,235,986
Other Receipts 705,403,676 333,555,090 303,232,633 195,406,617 387,509,791 123,444,519
Total Cash Inflows 2,458,460,551 1,928,260,446 957,329,848 783,170,991 808,240,532 514,047,284
Adjustments 6,311,222 5,600,857 2,520,889 1,297,992 1,021,114 72,700
Adjusted Cash Inflows 2,464,771,774 1,933,861,302 959,850,737 784,468,983 809,261,646 514,119,984
Cash Outflows
Payment of Expenses 492,500,956 455,137,161 132,046,696 116,650,237 205,681,338 193,347,785
Purchase of Inventories 10,791,629 7,515,780 128,274 86,367 1,536,764 327,618
Grant of Cash Advances 3,953,590 2,877,339 217,378 166,889 515,824 10,722
Prepayments 5,684,886 7,208,092 18,444 28,211 344,516 138,660
Refund of Deposits 5,655,418 4,091,578 1,793,023 1,371,999 118,719 47,894
Payments of Accounts Payable 139,739,299 127,471,909 781,379 1,081,293 106,138,289 97,710,414
Remittance of Personnel Benefit 50,848,338 45,823,719 172,396 173,405 5,598,418 13,067,606
Grant of Financial 69,857,865 52,349,404 457,535 56,504 60,564 52,885
Release of Inter-Agency Fund Transfers 9,169,529 5,653,092 550 350 26,005 18,260
Release of Intra-Agency Fund Transfers 33,254,333 42,520,083 - - - -
Release of Loans (Financial Institutions) 370,404,487 322,984,961 260,057,890 234,641,225 110,346,598 88,343,736
Other Disbursements 1,173,770,171 501,030,250 640,575,826 252,052,998 392,289,022 125,704,814
Total Cash Outflows 2,365,630,501 1,574,663,368 1,036,249,392 606,309,476 822,656,056 518,770,395
Adjustments 4,389,674 5,768,252 789,499 619,852 360,729 475,065
Adjusted Cash Outflows 2,370,020,175 1,580,431,620 1,037,038,891 606,929,327 823,016,785 519,245,460
Net Cash Provided by/(Used in) Operating

Activities 94,751,599 353,429,682 (77,188,154) 177,539,656 (13,755,140) (5,125,476)
Cash Inflows
Proceeds from Sale/ Disposal of Investment 39,236,330 1,179,887 115,704 585,713 616,764 586,551
Proceeds from Sale/Disposal of Property, 429,411 2,470,955 305,724 165,362 8,939 2,409
Sale of Investments 194,916,653 214,054,079 138,003,448 165,036,389 31,417,308 36,393,588
Receipt of Interest Earned 59,920,521 48,912,926 45,635 39,209 56,750,458 47,352,750
Receipt of Cash Dividends 6,480,451 6,168,302 1,437,603 1,582,906 4,294,369 3,679,531
Proceeds from Matured Investments/Redemption 359,682,559 260,585,311 123,821,822 99,704,125 163,989,750 100,380,593
Collection of Long-Term Loans 173,468,997 127,050,686 - - 173,107,442 126,809,892
Proceeds from Sale of Other Assets 294,934 12,991 3 - - -
Total Cash Inflows 834,429,857 660,435,136 263,729,940 267,113,705 430,185,031 315,205,315
Adjustments (Please specify) 3,070,911 22,488,807 2,486,856 21,899,700 - -
Adjusted Cash Inflows 837,500,768 682,923,943 266,216,796 289,013,405 430,185,031 315,205,315
Cash Outflows
Purchase/Construction of Investment Property 358,351 164,728 247,909 71,596 905 1,062
Purchase/Construction of Property, Plant and 50,350,131 55,787,455 3,599,944 7,911,745 883,155 900,308
Purchase/Acquisition of Investments 722,247,528 712,736,137 350,756,521 425,024,286 247,141,458 185,557,401
Purchase of Bearer Biological Assets 6,706 8,358 - - - -
Purchase of Consumable Biological Assets 14,709 13,225 - - - -
Purchase of Intangible Assets 246,105 240,292 58,159 131,637 135,268 54,640
Grant of Loans 220,035,774 119,895,696 - - 219,711,856 119,752,618
Total Cash Outflows 993,259,304 888,845,892 354,662,532 433,139,265 467,872,641 306,266,029
Adjustments (Please specify) 9,094,243 2,669,323 8,576,648 136,306 - 1,277,871
Adjusted Cash Outflows 1,002,353,547 891,515,216 363,239,180 433,275,571 467,872,641 307,543,900
398
(in thousand pesos)

2018 2017 2018 2017 2018 2017

Net Cash Provided By/(Used In) Investing

Activities (164,852,778) (208,591,273) (97,022,384) (144,262,166) (37,687,610) 7,661,414
Cash Inflows
Proceeds from Incurrence of Financial 1,263,769,903 905,350,839 1,263,754,906 905,341,831 - -
Proceeds from Issuance of Bonds and 316,982 93 316,982 35 - -
Proceeds from Domestic and Foreign Loans 218,495,106 193,734,404 174,011,374 148,796,350 797,274 972,183
Equity/Contribution from National Government 13,509,420 14,612,244 5,309,778 3,181,000 1,264,224 2,227,145
Proceeds from Issuance of Capital Stock and
other Equity Securities 43,100,712 34,121,301 2,428,992 282,137 40,671,673 33,839,161
Total Cash Inflows 1,539,192,123 1,147,818,881 1,445,822,031 1,057,601,354 42,733,172 37,038,489
Adjustments (Please specify) 465,707 228,955 - - - -
Adjusted Cash Inflows 1,539,657,830 1,148,047,836 1,445,822,031 1,057,601,354 42,733,172 37,038,489
Cash Outflows
Payment of Long-Term Liabilities 1,299,403,581 1,008,052,154 1,189,124,651 916,113,786 2,712,211 3,040,496
Redemption of Bonds Issued and Unsecured 2,844,553 21,520,258 - - 7,316 135,170
Payment for Reacquisition of Capital Stock 21,414,267 10,105,056 7,381,076 - 14,032,387 10,104,619
Payment of Interest on Loans and Other 25,120,157 24,625,993 - - 625,549 378,203
Payment of Cash Dividends 38,805,345 25,997,175 13,611,387 11,965,275 706,025 530,524
Total Cash Outflows 1,387,587,903 1,090,300,636 1,210,117,114 928,079,061 18,083,489 14,189,013
Adjustments (Please specify) 17,425,876 10,319,900 12,355,658 6,093,565 21,921 20,174
Adjusted Cash Outflows 1,405,013,779 1,100,620,536 1,222,472,772 934,172,626 18,105,411 14,209,187
Net Cash Provided By/(Used In) Financing

Activities 134,644,051 47,427,300 223,349,259 123,428,728 24,627,761 22,829,302
INCREASE/(DECREASE) IN CASH AND CASH

EQUIVALENTS 64,542,871 192,265,709 49,138,720 156,706,218 (26,814,989) 25,365,240
Effects of Exchange Rate Changes on Cash 144,602,989 25,113,507 143,095,077 25,131,996 662,668 51,068
CASH AND CASH EQUIVALENTS, JANUARY 1 1,455,715,436 1,238,336,219 1,161,784,785 979,946,570 77,989,139 52,572,831
CASH AND CASH EQUIVALENTS, DECEMBER 31 1,664,861,297 1,455,715,436 1,354,018,582 1,161,784,785 51,836,818 77,989,139
399
(in thousand pesos)

2018 2017 2018 2017 2018 2017

Cash Inflows
Proceeds from Sale of Goods and Services 14,478,987 13,836,753 10,510,609 6,054,196 159,572 237,377
Receipt of Assistance/Subsidy 2,022,134 4,941,926 298,684 1,012,967 45,510,390 42,598,974
Collection of Receivables 47,674,107 44,143,436 12,326,432 14,768,025 827,347 1,200,106
Receipt of Inter-Agency Fund Transfers 2,832,454 130,586 3,094,526 572,831 2,019,812 2,546,054
Receipt of Intra-Agency Fund Transfers 6,351,093 9,717,423 555,047 389,734 24,707,865 27,122,021
Trust Receipts 7,997,072 4,767,469 6,253,399 6,044,823 2,344,569 637,472
Other Receipts 7,354,726 7,572,280 1,067,603 1,793,692 1,180,536 1,478,339
Adjustments 1,103,657 3,592,031 56,039 40,052 700,171 91,485
Cash Outflows
Purchase of Inventories 6,172,434 5,377,249 723,117 489,742 1,436,901 694,457
Grant of Cash Advances 894,048 670,645 1,382,531 1,380,617 680,741 412,789
Prepayments 3,009,359 3,911,859 18,647 53,848 1,812,113 2,770,913
Refund of Deposits 92,595 147,256 1,972,373 2,173,995 1,354,901 125,407
Payments of Accounts Payable 7,670,068 9,577,023 1,022,225 827,835 11,298,857 5,933,952
Remittance of Personnel Benefit 8,019,028 6,575,680 5,129,435 5,527,444 4,657,377 3,160,742
Grant of Financial 9,486,132 5,152,982 652,753 2,288,530 10,399 -
Release of Inter-Agency Fund Transfers 4,378,046 2,971,120 830,804 606,044 1,866,275 1,469,339
Release of Intra-Agency Fund Transfers 8,072,599 15,149,175 231,045 196,204 24,929,223 27,149,600
Release of Loans (Financial Institutions) - - - -
Other Disbursements 11,748,751 8,842,609 10,193,766 11,538,361 3,341,145 778,429
Adjustments 2,285,329 3,443,518 110,850 766,038 76,550 136,095
Adjusted Cash Outflows 155,553,449 145,435,864 41,390,619 47,273,020 66,482,317 54,337,357

Activities 80,293,221 82,562,487 34,580,060 29,147,453 31,782,029 41,514,338
Cash Inflows
Proceeds from Sale/ Disposal of Investment 1,167,902 5,833 2,489 1,790 340 -
Proceeds from Sale/Disposal of Property, 95,961 176,075 4,596 29,000 12,276 2,097,090
Sale of Investments 139,720 218,175 23,390,658 9,790,538 338,355 1,015,824
Receipt of Interest Earned 990,436 579,926 747,241 689,567 101,406 103,744
Receipt of Cash Dividends 108,646 139,193 568,832 764,901 71,000 1,770
Collection of Long-Term Loans 178,089 111,423 18,003 18,781 165,463 110,589
Proceeds from Sale of Other Assets 9,316 7,783 91,532 4,721 193,856 125
Adjustments (Please specify) 584,014 724,482 0 17,000 41 -
Cash Outflows
Purchase/Construction of Investment Property 21,757 20,019 87,780 72,051 - -
Purchase/Construction of Property, Plant and 15,622,311 12,051,958 5,089,416 7,126,843 22,662,738 22,738,802
Purchase of Bearer Biological Assets - - - - 6,706 8,358
Purchase of Consumable Biological Assets - - - - 14,709 13,225
Purchase of Intangible Assets 13,148 7,570 12,040 2,922 1,393 208
Grant of Loans 229,043 99,130 - - 94,875 43,948
Adjustments (Please specify) 457,774 1,106,940 105,791 230,044 3,114 10
400
(in thousand pesos)

2018 2017 2018 2017 2018 2017


Activities (12,684,600) (16,300,954) (13,412,443) (27,213,663) (16,437,230) (23,465,240)
Cash Inflows
Proceeds from Incurrence of Financial 13,333 2,547 1,664 6,461 - -
Proceeds from Issuance of Bonds and - 58 - - - -
Proceeds from Domestic and Foreign Loans 23,935,208 16,880,301 - - 19,751,251 27,085,570
Equity/Contribution from National Government 4,980,785 4,095,459 1,926,292 5,108,640 28,341 -
other Equity Securities - - - 2 - -
Adjustments (Please specify) 5,493 25,179 457,552 203,776 - -
Cash Outflows
Payment of Long-Term Liabilities 67,617,335 50,135,208 6,336,046 3,814,803 33,608,417 34,943,192
Redemption of Bonds Issued and Unsecured 2,837,237 21,385,088 - - - -
Payment for Reacquisition of Capital Stock - - 805 437 - -
Payment of Interest on Loans and Other 19,174,745 18,606,627 449,316 415,327 4,869,747 5,185,183
Payment of Cash Dividends 6,717,794 4,950,921 11,096,133 6,845,348 1,271,914 273,902
Adjustments (Please specify) 54,581 55,883 4,993,716 4,150,278 - -

Activities (67,466,873) (74,130,183) (20,490,506) (9,907,314) (19,970,487) (13,316,707)

EQUIVALENTS 141,747 (7,868,649) 677,111 (7,973,524) (4,625,688) 4,732,390
Effects of Exchange Rate Changes on Cash 86,682 (2,957) 499,671 (23,044) 38,187 (868)
CASH AND CASH EQUIVALENTS, JANUARY 1 71,024,816 78,896,423 36,858,785 44,855,353 22,327,578 17,596,056
CASH AND CASH EQUIVALENTS, DECEMBER 31 71,253,246 71,024,816 38,035,568 36,858,785 17,740,077 22,327,578
401
(in thousand pesos)

Other Services
2018 2017
(Restated)
Cash Inflows
Proceeds from Sale of Goods and Services 44,649,405 35,611,513
Collection of Income/Revenue 108,599,653 93,417,211
Receipt of Assistance/Subsidy 61,952,910 52,596,368
Receipt of Inter-Agency Fund Transfers 15,903,870 11,501,009
Receipt of Intra-Agency Fund Transfers 1,453,786 338,659
Trust Receipts 3,011,842 1,756,818
Other Receipts 5,058,386 3,859,643
Cash Outflows
Purchase of Inventories 794,138 540,347
Grant of Cash Advances 263,068 235,676
Prepayments 481,806 304,601
Refund of Deposits 323,808 225,028
Payments of Accounts Payable 12,828,481 12,341,393
Remittance of Personnel Benefit 27,271,682 17,318,843
Grant of Financial 59,190,481 44,798,504
Release of Inter-Agency Fund Transfers 2,067,849 587,978
Release of Intra-Agency Fund Transfers 21,466 25,104
Release of Loans (Financial Institutions)
Other Disbursements 115,621,662 102,113,041
Adjusted Cash Outflows 246,538,114 207,210,591

Activities 39,039,582 27,791,224
Cash Inflows
Proceeds from Sale/ Disposal of Investment 37,333,130 -
Proceeds from Sale/Disposal of Property, 1,916 1,019
Sale of Investments 1,627,165 1,599,566
Receipt of Interest Earned 1,285,346 147,729
Receipt of Cash Dividends - -
Proceeds from Matured Investments/Redemption 11,295,201 8,754,960
Collection of Long-Term Loans - -
Proceeds from Sale of Other Assets 228 363
Adjustments (Please specify) - (152,375)
Cash Outflows
Purchase/Construction of Investment Property - -
Purchase/Construction of Property, Plant and 2,492,567 5,057,800
Purchase/Acquisition of Investments 36,681,917 10,342,659
Purchase of Bearer Biological Assets - -
Purchase of Consumable Biological Assets - -
Purchase of Intangible Assets 26,098 43,315
Grant of Loans - -
Adjustments (Please specify) (49,085) (81,848)
402
(in thousand pesos)

Other Services
2018 2017
(Restated)

Activities 12,391,489 (5,010,664)
Cash Inflows
Proceeds from Incurrence of Financial - -
Proceeds from Issuance of Bonds and - -
Proceeds from Domestic and Foreign Loans - -
Equity/Contribution from National Government - -
other Equity Securities 47 -
Total Cash Inflows 47 -
Adjustments (Please specify) 2,663 -
Adjusted Cash Inflows 2,709 -
Cash Outflows
Payment of Long-Term Liabilities 4,921 4,668
Redemption of Bonds Issued and Unsecured - -
Payment for Reacquisition of Capital Stock - -
Payment of Interest on Loans and Other 799 40,653
Payment of Cash Dividends 5,402,091 1,431,205
Adjustments (Please specify) - -

Activities (5,405,102) (1,476,526)

EQUIVALENTS 46,025,969 21,304,034
Effects of Exchange Rate Changes on Cash 220,704 (42,688)
CASH AND CASH EQUIVALENTS, JANUARY 1 85,730,332 64,468,986
CASH AND CASH EQUIVALENTS, DECEMBER 31 131,977,006 85,730,332
403
(in thousand pesos)
TOTAL
Budgeted Amounts Actual

Difference
Amounts on
Final Budget
Original Final Comparable
and Actual
Basis
RECEIPTS
Tax Revenue 2,564,000 2,564,000 3,181,864 (617,864)
Gains 5,600 5,600 655,146 (649,546)
Others 124,099,637 122,913,348 84,739,946 38,173,401
Total Receipts 484,071,661 480,732,269 305,876,278 174,855,991
PAYMENTS
Expenses 99,648,737 103,747,485 85,870,586 17,876,899
Capital Outlay 173,661,779 170,990,622 44,370,026 126,620,596
Others 72,484,644 73,791,202 56,268,236 17,522,965
Total Payments 495,471,048 492,180,324 287,791,679 204,388,645
404
(in thousand pesos)

Difference
Amounts on
Final Budget
and Actual
Basis
RECEIPTS
Tax Revenue - - - -
Services and Business Income 18,201 18,225 9,989 8,236
Assistance and Subsidy 121,886 121,886 67,971 53,915
Shares, Grants and Donations 29,000 34,331 37,638 (3,307)
Gains - - - -
Others - 119 119 -
Total Receipts 169,087 174,562 115,718 58,844
PAYMENTS
Personnel Services 66,245 59,497 39,478 20,019
Maintenance and Other Operating Expenses 128,671 114,892 88,422 26,470
Capital Outlay 41,220 41,220 12,525 28,695
Financial Expenses - 5 2 3
Others - - - -
Total Payments 236,136 215,614 140,426 75,187
NET RECEIPTS/PAYMENTS (67,049) (41,052) (24,709) (16,344)

Difference
Amounts on
Final Budget
and Actual
Basis
RECEIPTS
Tax Revenue - - - -
Assistance and Subsidy 87,581,953 87,581,953 352,807 87,229,146
Gains - - - -
Others - - 5,454,299 (5,454,299)
Total Receipts 95,555,741 95,555,741 8,151,741 87,404,000
PAYMENTS
Personnel Services 1,535,689 1,168,694 952,242 216,452
Maintenance and Other Operating Expenses 1,409,028 1,159,983 831,632 328,351
Capital Outlay 92,571,053 92,559,898 13,484,135 79,075,763
Financial Expenses - - 5,985 (5,985)
Others - - 347,662 (347,662)
Total Payments 95,515,770 94,888,575 15,621,656 79,266,919
NET RECEIPTS/PAYMENTS 39,971 667,166 (7,469,916) 8,137,082
405
(in thousand pesos)

Difference
Amounts on
Final Budget
and Actual
Basis
RECEIPTS
Tax Revenue - - - -
Gains - - 639,040 (639,040)
Others 62,299,526 61,113,117 34,216,217 26,896,900
Total Receipts 239,865,291 238,292,288 184,931,889 53,360,400
PAYMENTS
Maintenance and Other Operating Expenses 78,756,990 85,515,102 73,232,455 12,282,647
Capital Outlay 29,796,993 29,797,843 5,268,237 24,529,605
Others 10,188,390 11,754,697 8,161,797 3,592,900
Total Payments 247,444,924 250,610,605 171,564,043 79,046,562

Difference
Amounts on
Final Budget
and Actual
Basis
RECEIPTS
Tax Revenue 2,564,000 2,564,000 3,181,864 (617,864)
Gains - - 3,063 (3,063)
Others 233,846 233,846 223,271 10,575
Total Receipts 4,167,439 3,947,103 4,362,372 (415,270)
PAYMENTS
Maintenance and Other Operating Expenses 1,135,825 939,172 731,475 207,697
Capital Outlay 2,188,922 1,996,750 1,785,264 211,486
Financial Expenses 8,770 8,393 8,136 257
Others 33,118 33,708 76,146 (42,438)
Total Payments 4,093,051 3,611,240 3,173,927 437,313
NET RECEIPTS/PAYMENTS 74,388 335,863 1,188,446 (852,583)
406
(in thousand pesos)

Difference
Amounts on
Final Budget
and Actual
Basis
RECEIPTS
Tax Revenue - - - -
Services and Business Income 1,742,448 1,718,592 2,290,281 (571,690)
Shares, Grants and Donations 6,175 6,175 - 6,175
Gains 5,600 5,600 6,349 (749)
Others 61,552,575 61,552,575 44,826,689 16,725,885
Total Receipts 125,332,205 125,308,349 94,841,506 30,466,843
PAYMENTS
Personnel Services 7,309,609 7,146,449 6,222,533 923,916
Capital Outlay 44,458,743 43,242,774 22,281,348 20,961,426
Others 61,150,354 61,150,354 47,231,741 13,918,613
Total Payments 130,093,718 127,583,058 85,556,326 42,026,731
Cluster 6 - Social, Cultural, Trading, Promotional and Other

Services
Difference
Amounts on
Final Budget
and Actual
Basis
RECEIPTS
Tax Revenue - - - -
Shares, Grants and Donations 60,000 60,000 32,323 27,677
Gains - - 6,694 (6,694)
Others 13,691 13,691 19,350 (5,659)
Total Receipts 18,981,898 17,454,227 13,473,052 3,981,175
PAYMENTS
Maintenance and Other Operating Expenses 7,848,515 6,780,161 6,031,337 748,824
Capital Outlay 4,604,848 3,352,139 1,538,518 1,813,621
Financial Expenses 50,656 50,746 37,180 13,566
Others 1,112,782 852,442 450,890 401,552
Total Payments 18,087,448 15,271,232 11,735,300 3,535,933
NET RECEIPTS/PAYMENTS 894,450 2,182,994 1,737,752 445,242
407
BY
GOVERNMENT CORPORATION
STATEMENT OF
FINANCIAL POSITION
Statement of Financial Position
(in thousand pesos)
BSP (includes PICCI

TOTAL GBE
accounts)
2018 2017 2018 2017 2018 2017
ASSETS
Current Assets
Cash and Cash Equivalents 610,940,248 573,779,308 610,894,110 573,720,562 33,256 32,471
International Reserves 4,140,162,681 4,056,596,053 4,140,162,681 4,056,596,053 4,140,162,681 4,056,596,053
Other Investments 3,802,642 5,401,974 3,802,642 5,401,974 - -
Receivables 530,809,398 730,081,605 530,794,195 730,054,410 171,630,196 70,606,234
Inventories 11,476,307 8,739,048 11,475,543 8,737,974 11,149,890 8,389,181
Non-Current Assets Held for Sale 1,251,943 685,041 1,251,943 685,041 152,912 51,270
Other Current Assets 9,044,719 11,564,230 9,024,855 11,550,660 966,003 1,880,458
Total Current Assets 5,549,705,752 5,662,988,802 5,549,623,783 5,662,888,217 4,494,612,619 4,309,521,043
Non-Current Assets
Non-International Reserves Foreign Assets 93,407,616 91,737,574 93,407,616 91,737,574 93,407,616 91,737,574
Investments in Joint Venture 49,675 49,675 49,675 49,675 - -
Investments in Associates/Affiliates 592,242 72,514 592,242 72,514 - -
Other Investments 43,503,358 39,929,126 43,503,358 39,929,126 165,611 20,611
Receivables 905,863,433 404,320,145 905,862,922 404,319,633 168,638,257 167,246,990
Biological Assets 43 43 43 43 - -
Intangible Assets 1,916,647 2,064,650 1,863,133 1,992,090 234,255 217,017
Deferred Tax Assets 8,692,542 11,433,103 8,692,182 11,432,850 2,655,843 6,147,803
Other Non-Current Assets 1,866,537 1,757,988 1,866,537 1,757,934 518,767 518,427
Total Non-Current Assets 2,105,535,275 1,454,665,805 2,105,390,513 1,454,492,402 356,678,748 357,371,609
Total Assets 7,655,241,027 7,117,654,607 7,655,014,296 7,117,380,620 4,851,291,367 4,666,892,651
LIABILITIES
Current Liabilities
Deposit Liabilities 2,262,981,066 2,136,274,118 2,262,981,066 2,136,274,118 230,563,371 411,915,383
Trust Liabilities 13,514,922 15,112,574 13,514,667 15,105,555 - -
Provisions 28,308 20,289 28,308 20,289 - -
Other Payables 26,920,246 30,602,504 26,920,246 30,602,504 4,126,226 4,630,275
Total Current Liabilities 2,901,978,560 2,747,917,473 2,901,959,436 2,747,891,230 731,277,971 906,330,939
Currency Issued 1,490,240,286 1,267,269,737 1,490,240,286 1,267,269,737 1,490,240,286 1,267,269,737
Deposit Liabilities 2,055,796,868 2,124,599,492 2,055,796,868 2,124,599,492 1,948,721,841 2,002,678,443
Trust Liabilities 273,936 216,879 273,936 216,879 - -
Deferred Credits/Unearned Income 87,707 99,305 87,707 99,305 - -
Provisions 3,672,418 3,281,213 3,672,418 3,281,213 2,962,060 2,998,142
Deferred Tax Liabilities 8,944 7,768 8,944 7,768 8,943 7,444
Other Payables 536,348,962 383,158,429 536,348,960 383,158,427 535,425,733 381,994,173
Total Non-Current Liabilities 4,281,323,683 3,974,773,157 4,281,323,681 3,974,773,155 4,003,578,993 3,679,869,405
Total Liabilities 7,183,302,243 6,722,690,630 7,183,283,117 6,722,664,386 4,734,856,964 4,586,200,344
408
(in thousand pesos)
BSP (includes PICCI

TOTAL GBE
accounts)
2018 2017 2018 2017 2018 2017
NET ASSETS/EQUITY
Government Equity 3,082,606 3,128,576 3,000,000 3,000,000 - -

Revaluation Surplus 61,200 61,200 61,200 61,200 - -
Retained Earnings/(Deficit) 360,684,438 296,196,675 360,684,438 296,196,675 68,242,186 32,016,406
Cumulative Translation Adjustment 231,756 - 231,756 - - -
Cumulative Changes in Fair Value 7,413,945 2,608,054 7,413,945 2,608,054 (1,807,783) (1,324,098)
Total Liabilities and Net Assets/Equity 7,655,241,027 7,117,654,607 7,655,014,296 7,117,380,620 4,851,291,367 4,666,892,651
409
(in thousand pesos)
DBP AAIIBP DBPLC
2018 2017 2018 2017 2018 2017

ASSETS
Current Assets
Cash and Cash Equivalents 177,770,499 174,032,327 452,905 502,324 60,549 26,107
Financial Assets 4,751,569 70,297,358 - - - -
Other Investments - - - - - -
Receivables 2,508,925 33,696,377 116,497 56,143 907,897 903,215
Inventories - - 1,723 1,733 131 188
Non-Current Assets Held for Sale 277,505 197,274 - - - -
Other Current Assets 3,083,424 2,860,568 951 1,083 33 379
Total Current Assets 188,391,921 281,083,904 572,076 561,282 968,609 929,889
Non-Current Assets
Financial Assets 201,740,358 86,864,482 19,865 18,170 - -
Investments in Joint Venture 49,675 49,675 - - - -
Investments in Associates/Affiliates (5,385) 56,514 - - - -
Investments in Subsidiaries 1,657,050 1,664,898 - - - -
Other Investments - - 2,751 2,751 - -
Receivables 269,742,986 214,846,960 188,097 145,578 1,873,778 1,717,592
Investment Property 1,218,641 1,153,098 - - - -
Property, Plant and Equipment 2,815,004 2,834,015 8,495 4,906 4,198 4,513
Biological Assets - - - - - -
Intangible Assets 433,129 463,321 4,557 80 1,929 1,710
Deferred Tax Assets 2,551,022 2,399,707 - - - -
Other Non-Current Assets 993,619 938,530 1,420 1,228 12,378 16,288
Total Non-Current Assets 481,196,099 311,271,200 225,184 172,712 1,892,284 1,740,103
Total Assets 669,588,020 592,355,104 797,260 733,994 2,860,893 2,669,992
LIABILITIES
Current Liabilities
Financial Liabilities 67,731,351 45,110,113 2,769 5,038 1,144,313 885,112
Deposit Liabilities 390,315,774 311,964,657 - - - -
Inter-Agency Payables 184,761 131,946 2,242 3,161 7,065 4,673
Trust Liabilities 1,133,840 - - - 54,094 62,366
Deferred Credits/Unearned Income 1,370,417 1,508,620 - - - -
Provisions - - 5,725 4,662 - -
Other Payables 2,915,565 1,364,433 25,358 13,627 - 6,713
Total Current Liabilities 463,651,708 360,079,769 36,094 26,489 1,205,471 958,865
Financial Liabilities 69,692,220 82,870,287 - - 364,625 399,108
Deposit Liabilities 84,127,949 100,399,098 591,479 463,486 - -
Trust Liabilities - - - - 264,286 207,616
Deferred Credits/Unearned Income - - - 1 - -
Provisions - - 4,270 4,270 - -
Deferred Tax Liabilities - - - - - -
Other Payables 398,004 708,357 3,201 390 - -
Total Non-Current Liabilities 154,218,173 183,977,742 598,949 468,147 628,911 606,724
Total Liabilities 617,869,881 544,057,511 635,043 494,635 1,834,382 1,565,589
410
(in thousand pesos)
DBP AAIIBP DBPLC
2018 2017 2018 2017 2018 2017

NET ASSETS/EQUITY
Government Equity - - - - - -
Revaluation Surplus - - - - - -
Retained Earnings/(Deficit) 34,798,760 32,217,810 (843,024) (765,883) (105,489) (27,597)
Cumulative Translation Adjustment - - - - - -
Cumulative Changes in Fair Value (2,580,621) (1,420,217) - - - -
Total Net Assets/Equity 51,718,139 48,297,593 162,217 239,358 1,026,511 1,104,403
Total Liabilities and Net Assets/Equity 669,588,020 592,355,104 797,260 733,994 2,860,893 2,669,992
411
(in thousand pesos)
DBPMC DCI LBP
2018 2017 2018 2017 2018 2017

(Restated) (Restated)
ASSETS
Current Assets
Cash and Cash Equivalents 1,026 1,052 10,119 30,762 423,895,086 394,073,809
Financial Assets - - - - 62,108,550 21,576,356
Other Investments 54,959 54,185 - - - -
Receivables 106 97 126,895 103,318 351,528,750 620,860,072
Inventories - - 133 101 114,202 85,706
Non-Current Assets Held for Sale - - - - 334,903 321,981
Other Current Assets - - 3,361 3,956 4,559,896 6,399,972
Total Current Assets 56,091 55,333 140,508 138,137 842,541,388 1,043,317,895
Non-Current Assets
Financial Assets 45 57 - - 555,798,224 550,009,559
Investments in Joint Venture - - - - - -
Investments in Associates/Affiliates 16,000 16,000 - - 581,627 -
Investments in Subsidiaries - - - - 1,460,534 438,775
Other Investments - - 5,895 6,988 9,091 19,268
Receivables - - - - 459,370,279 13,178,220
Investment Property - - - - 5,396,784 5,571,611
Property, Plant and Equipment - - 3,737 7,443 7,960,168 7,222,632
Intangible Assets - - 613 673 1,155,221 1,269,755
Deferred Tax Assets - - 224 224 3,418,974 2,808,808
Other Non-Current Assets - - - - 1,046 992
Total Non-Current Assets 16,045 16,057 10,469 15,328 1,035,151,949 580,519,620
Total Assets 72,136 71,390 150,977 153,464 1,877,693,337 1,623,837,515
LIABILITIES
Current Liabilities
Financial Liabilities 0 - 81,623 56,856 26,488,490 24,284,396
Deposit Liabilities - - - - 1,642,101,921 1,412,394,077
Inter-Agency Payables - - 7,703 11,399 1,208,659 1,031,297
Trust Liabilities - - - 26,506 12,264,093 14,984,224
Deferred Credits/Unearned Income - - - - - -
Provisions - - 4,389 4,694 - -
Other Payables - - 1,500 1,500 16,010,837 21,316,596
Total Current Liabilities 0 - 95,215 100,954 1,698,074,000 1,474,010,590
Financial Liabilities - - - - 29,704,287 22,699,340
Deposit Liabilities - - - - 14,039,357 13,079,279
Trust Liabilities - - - - - -
Deferred Credits/Unearned Income - - - - 15,622 32,984
Provisions - - 20,043 19,017 431,530 -
Other Payables - - - - 470,255 321,536
Total Non-Current Liabilities - - 20,043 19,017 44,661,050 36,133,139
Total Liabilities 0 - 115,258 119,971 1,742,735,050 1,510,143,729
412
(in thousand pesos)
DBPMC DCI LBP
2018 2017 2018 2017 2018 2017

NET ASSETS/EQUITY
Retained Earnings/(Deficit) 27,319 26,562 12,439 10,213 96,426,105 87,199,747
Stockholders' Equity 45,000 45,000 23,280 23,280 26,391,876 21,082,098
Cumulative Translation Adjustment - - - - 231,756 -
Cumulative Changes in Fair Value (184) (171) - - 11,908,549 5,411,941
Total Net Assets/Equity 72,136 71,390 35,719 33,493 134,958,287 113,693,786
Total Liabilities and Net Assets/Equity 72,136 71,390 150,977 153,464 1,877,693,337 1,623,837,515
413
(in thousand pesos)
LBRDC LIBI LLFC
2018 2017 2018 2017 2018 2017

ASSETS
Current Assets
Cash and Cash Equivalents 86,611 75,531 107,187 128,649 48,138 41,940
Financial Assets - - - - - -
Receivables 250,194 253,066 72,248 81,637 1,558,290 995,614
Inventories 11,621 12,935 128 88 174 121
Non-Current Assets Held for Sale - 3,658 - - 308,858 -
Other Current Assets 12,838 10,457 11,831 5,459 21,013 13,546
Total Current Assets 361,264 355,647 191,394 215,833 1,936,472 1,051,222
Non-Current Assets
Financial Assets 172,858 152,804 1,027,594 964,883 - -
Investments in Associates/Affiliates - - - - - -
Investments in Subsidiaries - - - - - -
Other Investments 13 13 - - 16 16
Receivables 21,385 16,551 43,969 44,748 2,681,748 2,748,479
Investment Property 100,531 101,651 998 998 9,697 5,447
Property, Plant and Equipment 15,504 17,891 26,242 23,147 60,911 374,443
Intangible Assets 1,800 1,826 4,897 2,133 686 582
Deferred Tax Assets 505 505 4,016 3,870 57,547 65,603
Total Non-Current Assets 313,786 293,051 1,110,015 1,041,880 2,811,880 3,195,845
Total Assets 675,050 648,698 1,301,409 1,257,713 4,748,352 4,247,067
LIABILITIES
Current Liabilities
Financial Liabilities 9,802 8,388 129,561 174,481 2,359,475 1,721,663
Deferred Credits/Unearned Income 23,149 21,150 - - - -
Provisions 12,737 6,667 5,456 4,266 - -
Other Payables 20,810 17,195 43 439 57,154 71,451
Total Current Liabilities 93,024 78,214 195,460 209,949 2,430,903 1,805,017
Financial Liabilities - - 44,765 44,645 809,371 1,003,766
Trust Liabilities - - 7,118 5,010 - -
Deferred Credits/Unearned Income 75 75 - - - -
Provisions - - 2,820 7,710 17,113 15,356
Other Payables - - - - - -
Total Non-Current Liabilities 75 75 54,703 57,364 826,485 1,019,121
Total Liabilities 93,099 78,289 250,163 267,313 3,257,388 2,824,138
414
(in thousand pesos)
LBRDC LIBI LLFC
2018 2017 2018 2017 2018 2017

NET ASSETS/EQUITY
Revaluation Surplus 61,200 61,200 - - - -
Retained Earnings/(Deficit) 382,375 370,834 751,246 690,400 895,586 828,693
Stockholders' Equity 138,375 138,375 300,000 300,000 599,523 599,523
Cumulative Changes in Fair Value - - - - (4,145) (5,288)
Total Net Assets/Equity 581,950 570,409 1,051,246 990,400 1,490,964 1,422,928
Total Liabilities and Net Assets/Equity 675,050 648,698 1,301,409 1,257,713 4,748,352 4,247,067
415
(in thousand pesos)
MSI NFC (Region 1) OFBI
2018 2017 2018 2017 2018 2017

(Restated)
ASSETS
Current Assets
Cash and Cash Equivalents 93,484 86,772 13,371 7,096 4,272,283 3,346,583
Financial Assets 2,605 103 - - 44,661 47,467
Receivables 16,889 45,480 37,031 47,164 2,019,709 2,390,364
Inventories 23,825 45,814 169,804 197,677 3,751 3,836
Non-Current Assets Held for Sale - 60 - - 133,327 57,287
Non-Current Assets
Financial Assets - - - - 476,888 576,651
Other Investments 57 57 - - - -
Receivables 22,163 14,766 7,626 7,626 1,592,839 2,227,501
Investment Property 4,291 4,291 - - 267,210 215,429
Biological Assets 43 43 - - - -
Intangible Assets 46 95 - - 10,127 13,201
Deferred Tax Assets - - 1,501 3,791 2,550 2,540
Other Non-Current Assets - - - - 153 153
Total Non-Current Assets 47,654 42,094 36,773 37,912 2,525,952 3,219,538
Total Assets 188,007 221,571 268,824 299,724 9,017,235 9,134,646
LIABILITIES
Current Liabilities
Financial Liabilities 31,044 53,393 867,211 865,987 4,048 6,092
Inter-Agency Payables 192 1,904 3,117 2,471 - -
Provisions - - - - - -
Other Payables 8,294 6,780 520 515 353,172 125,955
Total Current Liabilities 39,530 62,077 870,848 868,973 357,220 132,047
Financial Liabilities - - - - - -
Deposit Liabilities - - - - 8,316,243 7,979,187
Other Payables - - - - 51,766 131,958
Total Non-Current Liabilities - - - - 8,437,021 8,171,075
416
(in thousand pesos)
2018 2017 2018 2017 2018 2017

(Restated)
NET ASSETS/EQUITY
Retained Earnings/(Deficit) 48,477 59,494 (706,569) (673,794) (675,134) 65,394
Stockholders' Equity 100,000 100,000 104,545 104,545 1,000,000 820,243
Cumulative Changes in Fair Value - - - - (101,872) (54,113)
Total Net Assets/Equity 148,477 159,494 (602,024) (569,249) 222,994 831,524
Total Liabilities and Net Assets/Equity 188,007 221,571 268,824 299,724 9,017,235 9,134,646
417
(in thousand pesos)
PDIC Non-GBE CIC
2018 2017 2018 2017 2018 2017

(Restated)
ASSETS
Current Assets
Financial Assets 4,792,749 12,254,884 - - - -
Other Investments 3,747,683 5,347,789 - - - -
Receivables 20,568 15,628 15,204 27,195 1,352 5,423
Inventories 161 594 764 1,074 756 1,065
Non-Current Assets Held for Sale 44,438 53,511 - - - -
Non-Current Assets
Receivables 1,679,795 2,124,623 511 511 - -
Deferred Tax Assets - - 361 253 361 253
Other Non-Current Assets 334,392 277,132 - 54 - -
Total Non-Current Assets 223,373,676 195,555,454 144,762 173,403 78,626 96,486
Total Assets 236,361,429 214,857,091 226,732 273,987 125,332 168,947
LIABILITIES
Current Liabilities
Inter-Agency Payables 38,777 42,810 6,000 1,090 5,780 961
Trust Liabilities 4,021 498 254 7,018 254 7,018
Other Payables 3,400,768 3,047,023 - - - -
Total Current Liabilities 3,631,992 3,227,348 19,124 26,242 16,485 24,268
Financial Liabilities 68,059,165 64,201,722 - - - -
Trust Liabilities 2,532 4,254 - - - -
Provisions 234,582 236,719 - - - -
Deferred Tax Liabilities 1 323 - - - -
Other Payables - 2,014 2 2 - -
Total Non-Current Liabilities 68,299,278 64,451,347 2 2 - -
Total Liabilities 71,931,270 67,678,695 19,126 26,244 16,485 24,268
418
(in thousand pesos)
PDIC Non-GBE CIC
2018 2017 2018 2017 2018 2017

(Restated)
NET ASSETS/EQUITY
Government Equity 3,000,000 3,000,000 82,606 128,576 (16,152) 25,513

Retained Earnings/(Deficit) 161,430,159 144,178,396 - - - -
Stockholders' Equity - - 125,000 119,167 125,000 119,167
Cumulative Changes in Fair Value - - - - - -
Total Net Assets/Equity 164,430,159 147,178,396 207,606 247,743 108,848 144,679
Total Liabilities and Net Assets/Equity 236,361,429 214,857,091 226,732 273,987 125,332 168,947
419
(in thousand pesos)
LCDFI
2018 2017
ASSETS
Current Assets
Cash and Cash Equivalents 21,322 6,305
International Reserves - -
Financial Assets - -
Other Investments - -
Receivables 13,851 21,772
Inventories 7 9
Other Current Assets 82 38
Total Current Assets 35,263 28,123
Non-Current Assets
Non-International Reserves Foreign Assets - -
Financial Assets 65,051 75,663
Investments in Joint Venture - -
Receivables 511 511
Investment Property - -
Property, Plant and Equipment 574 688
Biological Assets - -
Intangible Assets - -
Deferred Tax Assets - -
Other Non-Current Assets - 54
Total Non-Current Assets 66,136 76,917
Total Assets 101,399 105,040
LIABILITIES
Current Liabilities
Inter-Agency Payables 220 129
Trust Liabilities - -
Deferred Credits/Unearned Income - -
Provisions - -
Other Payables - -
Total Current Liabilities 2,639 1,975
Financial Liabilities - -
Currency Issued - -
Provisions - -
Deferred Tax Liabilities - -
Other Payables 2 2
Total Non-Current Liabilities 2 2
Total Liabilities 2,641 1,977
420
(in thousand pesos)
LCDFI
2018 2017
NET ASSETS/EQUITY
Government Equity 98,758 103,063

Revaluation Surplus - -
Retained Earnings/(Deficit) - -
Stockholders' Equity - -
Cumulative Translation Adjustment - -
Cumulative Changes in Fair Value - -
Total Net Assets/Equity 98,758 103,063
Total Liabilities and Net Assets/Equity 101,399 105,040
421
(in thousand pesos)
Total GBE AFPRSBS

2018 2017 2018 2017 2018 2017
ASSETS
Current Assets
Financial Assets 274,038,104 712,104,839 274,038,104 712,104,839 4,280,787 60,898
Other Investments 5,779,316 14,796,381 5,268,962 14,124,765 1,811,959 840,492
Receivables 258,819,419 219,989,368 249,958,275 211,933,201 722,971 869,508
Inventories 57,190,724 48,144,763 4,210,636 4,479,404 3,934,925 4,171,817
Non-Current Assets Held for Sale 9,393,035 12,626,368 9,393,035 12,626,368 - -
Other Current Assets 3,994,310 3,777,981 833,533 709,569 30,770 36,301
Total Current Assets 661,051,725 1,089,428,837 591,427,578 1,022,311,047 10,943,462 6,020,773
Non-Current Assets
Investments in Joint Venture 4,862,599 5,351,448 14,473 14,473 - -
Investments in Associates/Affiliates 2,018,139 2,141,513 2,018,139 2,141,513 - -
Investments in Subsidiaries 16,385,761 16,151,356 16,385,761 16,151,356 1,769,207 1,772,211
Receivables 725,759,211 673,400,205 668,706,188 617,002,691 1,717,654 1,032,618
Property, Plant and Equipment 28,397,778 19,863,107 26,660,674 18,093,832 32,457 32,687
Intangible Assets 686,730 686,635 686,730 686,635 - -
Deferred Tax Assets 829,074 708,120 829,074 708,120 - -
Total Non-Current Assets 1,788,755,229 1,263,638,054 1,716,157,280 1,193,671,573 10,891,451 10,934,865
Total Assets 2,449,806,954 2,353,066,891 2,307,584,859 2,215,982,620 21,834,913 16,955,638
LIABILITIES
Current Liabilities
Intra-Agency Payables 6,966 5,284 6,966 5,284 - -
Deferred Credits/Unearned Income 3,033,117 2,455,711 3,031,233 2,453,191 - -
Provisions 1,608,834 1,240,130 1,608,834 1,240,130 - -
Other Payables 14,994,916 13,378,655 14,783,676 13,076,809 - -
Financial Liabilities 27,063,852 27,411,684 27,063,852 27,411,684 - -
Inter-Agency Payables 7,503,850 10,930,581 7,503,850 10,930,581 - -
Deferred Credits/Unearned Income 22,857,154 26,396,851 18,166,433 22,053,755 314,678 316,369
Provisions 1,960,588 2,333,068 1,600,312 1,612,638 - -
Deferred Tax Liabilities 778,620 733,224 778,620 733,224 - -
Other Payables 8,720,122 13,576,818 8,509,411 13,372,788 8,447,667 13,009,392
Total Liabilities 212,676,685 203,949,125 188,888,787 186,577,391 14,064,720 14,882,139
NET ASSETS/EQUITY
Government Equity 124,862,248 126,137,415 12,672,872 12,669,699 200,000 200,000

Revaluation Surplus 28,796,042 18,985,982 22,551,220 12,741,161 - -
Retained Earnings/(Deficit) 1,739,767,234 1,639,050,501 1,739,767,234 1,639,050,501 7,576,266 1,872,229
Stockholders' Equity 16,707,958 16,207,958 16,707,958 16,207,958 - -
Cumulative Changes in Fair Value (82,712,989) (13,474,096) (82,712,989) (13,474,096) (6,073) 1,270
Members’ Equity 409,709,776 362,210,007 409,709,776 362,210,007 - -
Total Net Assets/Equity 2,237,130,269 2,149,117,767 2,118,696,072 2,029,405,229 7,770,193 2,073,500
Total Liabilities and Net Assets/Equity 2,449,806,954 2,353,066,891 2,307,584,859 2,215,982,620 21,834,913 16,955,638
422
(in thousand pesos)
SUMSI GSIS HDMF

2018 2017 2018 2017 2018 2017
ASSETS
Current Assets
Cash and Cash Equivalents 5,670 5,569 16,207,288 25,062,127 8,981,496 8,221,684
Financial Assets 12,743 3,533 224,378,931 689,841,422 - -
Other Investments - - - 9,102,243 - -
Receivables 4,689 4,751 79,553,500 77,021,984 158,516,339 124,405,718
Inventories 278 652 5,451 9,027 92,580 96,530
Non-Current Assets Held for Sale - - - - 2,270,778 1,900,036
Other Current Assets 21 3 10,541 5,051 161,400 136,782
Total Current Assets 23,401 14,508 320,155,712 801,041,854 170,022,593 134,760,750
Non-Current Assets
Financial Assets 14,338 14,127 454,679,640 806,287 46,611,607 55,860,197
Investments in Associates/Affiliates - - 2,018,139 2,141,513 - -
Receivables 167 166 238,531,821 216,968,508 294,846,447 277,209,662
Investment Property - - 99,105,454 66,409,206 17,719,994 17,330,395
Property, Plant and Equipment 6,841 8,981 18,940,857 11,700,644 1,359,366 1,392,930
Intangible Assets - - 167,108 259,409 221,548 169,655
Deferred Tax Assets 1,125 977 - - - -
Other Non-Current Assets 234 110 745,196 700,198 2,093,578 2,020,932
Total Assets 46,106 38,869 1,134,343,925 1,100,027,619 532,875,134 488,744,520
LIABILITIES
Current Liabilities
Financial Liabilities 2,414 2,440 15,971,995 14,440,267 35,110,406 33,389,764
Inter-Agency Payables 1,932 816 5,342 70,807 89,903 107,786
Intra-Agency Payables - - - - - -
Trust Liabilities 76 113 - - 8,820,400 6,688,664
Deferred Credits/Unearned Income 49 - 1,976,302 1,416,393 - -
Provisions - - 830,399 656,108 761,976 582,968
Other Payables 6,434 4,921 2,130,540 1,633,974 1,191,635 1,787,629
Total Current Liabilities 10,905 8,290 20,914,577 18,217,548 45,974,321 42,556,811
Inter-Agency Payables - - - - - -
Deferred Credits/Unearned Income - - - - 10,075,105 15,559,059
Provisions 7,273 6,779 131,995 139,200 - -
Total Non-Current Liabilities 7,273 6,779 836,564 908,698 10,075,105 15,559,059
Total Liabilities 18,178 15,069 21,751,141 19,126,247 56,049,425 58,115,869
NET ASSETS/EQUITY
Revaluation Surplus - - 15,758,575 8,176,863 - -
Retained Earnings/(Deficit) 17,928 13,800 1,136,566,304 1,072,630,617 80,390,916 74,525,853
Stockholders' Equity 10,000 10,000 - - - -
Cumulative Changes in Fair Value - - (39,732,095) 93,893 (12,401,577) (5,333,274)
Members’ Equity - - - - 408,836,369 361,436,073
Total Net Assets/Equity 27,928 23,800 1,112,592,784 1,080,901,373 476,825,708 430,628,651
Total Liabilities and Net Assets/Equity 46,106 38,869 1,134,343,925 1,100,027,619 532,875,134 488,744,520
423
(in thousand pesos)
HGC NHMFC SHFC

2018 2017 2018 2017 2018 2017
ASSETS
Current Assets
Cash and Cash Equivalents 572,145 1,018,815 1,415,588 1,810,939 4,043,305 2,141,192
Financial Assets 867,977 1,328 1,961,710 566,108 4,079,763 3,338,353
Other Investments 3,457,003 4,131,670 - - - 50,360
Receivables 1,097,741 679,953 946,418 1,096,617 109,829 83,395
Inventories 474 230 2,358 5,727 4,181 2,856
Non-Current Assets Held for Sale 5,819,480 9,357,445 - - - -
Non-Current Assets
Financial Assets - - 772,658 1,739,544 - -
Investments in Subsidiaries - - 14,616,554 14,379,145 - -
Other Investments 1,701,971 1,705,891 184,030 184,030 - -
Receivables 5,661,313 1,644,214 15,617,897 15,625,295 16,587,081 15,111,508
Investment Property 9,294,878 9,296,727 - - 1,405,525 1,318,742
Intangible Assets 2,189 3,503 58,645 49,379 1,352 860
Deferred Tax Assets 226,498 224,420 63,524 38,445 45,035 44,552
Total Non-Current Assets 21,201,780 17,248,574 33,023,320 33,396,439 18,771,205 17,181,012
Total Assets 33,220,369 32,474,398 37,385,457 36,906,130 27,361,085 23,221,148
LIABILITIES
Current Liabilities
Intra-Agency Payables - - 2,612 2,224 - -
Trust Liabilities 637,621 637,950 911,699 804,568 4,671 4,634
Deferred Credits/Unearned Income 698,507 597,092 - - 249,637 273,232
Provisions 2,688 1,054 - - - -
Other Payables 6,418,840 5,547,328 1,597,277 1,160,707 1,401,496 1,156,051
Financial Liabilities 2,385 7,352 25,824,906 25,997,318 58,547 73,967
Inter-Agency Payables 7,041,593 10,463,795 462,258 466,786 - -
Trust Liabilities 4,245,785 4,189,539 583,932 578,225 18,239,046 15,003,873
Deferred Credits/Unearned Income 2,121,205 763,533 5,229,237 4,962,355 - -
Deferred Tax Liabilities 722,406 722,364 - - - -
Other Payables - - 11,744 313,397 - -
NET ASSETS/EQUITY
Government Equity - - 5,605,405 5,605,405 - -

Revaluation Surplus 1,685,209 1,685,209 - - - -
Retained Earnings/(Deficit) (6,850,489) (7,964,684) (3,449,589) (3,661,916) 6,160,839 5,504,450
Stockholders' Equity 15,573,000 15,073,000 - - 10,000 10,000
Cumulative Changes in Fair Value - - (67,302) (27,102) - -
Total Liabilities and Net Assets/Equity 33,220,369 32,474,398 37,385,457 36,906,130 27,361,085 23,221,148
424
(in thousand pesos)
PDGCC SBGFC SSS

2018 2017 2018 2017 2018 2017
(Restated)
ASSETS
Current Assets
Cash and Cash Equivalents 25,231 30,041 787,230 1,008,833 15,440,541 26,821,426
Financial Assets - - 210,880 755,291 37,059,804 16,847,812
Receivables 11,230 8,563 1,387,559 1,861,054 7,530,361 5,315,919
Inventories 76 69 61 513 169,465 191,279
Non-Current Assets Held for Sale - - - - 1,302,777 1,368,887
Non-Current Assets
Financial Assets - - 1,467,948 1,417,701 309,394,772 326,900,661
Investments in Joint Venture - - 14,473 14,473 - -
Other Investments - - 20,943 - - -
Receivables - - 2,580,293 1,203,390 92,745,975 87,665,909
Property, Plant and Equipment 4,316 473 71,687 71,242 5,854,268 4,532,664
Intangible Assets - - - - 235,322 203,095
Deferred Tax Assets - - 132,467 113,640 - -
Other Non-Current Assets 6 6 54,150 58,188 364,347 347,749
Total Non-Current Assets 4,322 478 4,341,958 2,878,634 449,949,115 458,074,438
Total Assets 40,998 39,297 6,746,429 6,527,269 511,465,947 508,632,034
LIABILITIES
Current Liabilities
Financial Liabilities 20 55 1,004,615 1,680,341 8,203,529 8,115,833
Inter-Agency Payables 316 264 766,216 750,098 149,959 178,003
Trust Liabilities 405 405 3,774 3,119 765,345 654,719
Deferred Credits/Unearned Income - - 21,171 17,214 59,047 122,309
Other Payables 6,859 3,455 37,883 36,704 1,990,631 1,743,958
Total Current Liabilities 7,601 4,179 1,838,013 2,490,535 11,168,511 10,814,823
Financial Liabilities - - 996,622 1,127,238 45,391 37,179
Provisions 269 232 - - 1,460,776 1,466,427
Deferred Tax Liabilities - - 55,790 10,325 - -
Other Payables - - - - 50,000 50,000
Total Non-Current Liabilities 269 232 1,052,412 1,137,564 1,938,929 1,963,220
Total Liabilities 7,869 4,410 2,890,425 3,628,099 13,107,440 12,778,043
NET ASSETS/EQUITY
Government Equity 21,113 17,940 884,455 884,455 - -

Revaluation Surplus - - - - 5,107,436 2,879,088
Retained Earnings/(Deficit) 12,016 16,947 1,856,591 899,758 522,804,688 500,362,519
Stockholders' Equity - - 1,114,958 1,114,958 - -
Cumulative Changes in Fair Value - - - - (30,427,024) (8,161,550)
Members’ Equity - - - - 873,407 773,934
Total Net Assets/Equity 33,129 34,887 3,856,004 2,899,171 498,358,507 495,853,991
425
(in thousand pesos)
TIDCORP Non-GBE ECC

2018 2017 2018 2017 2018 2017
ASSETS
Current Assets
Cash and Cash Equivalents 84,489 170,519 4,111,784 11,656,238 181,688 45,458
Financial Assets 1,185,507 690,094 - - - -
Receivables 77,639 585,739 8,861,144 8,056,167 67,042 67,925
Inventories 786 704 52,980,088 43,665,359 4,868 2,766
Non-Current Assets Held for Sale - - - - - -
Other Current Assets 5,404 5,407 3,160,777 3,068,412 2,739 2,614
Total Current Assets 1,353,825 1,452,463 69,624,147 67,117,791 766,691 790,380
Non-Current Assets
Investments in Joint Venture - - 4,848,126 5,336,975 - -
Other Investments - - 39 39 - -
Receivables 417,542 541,421 57,053,023 56,397,514 - -
Investment Property 48,924 47,073 999,916 306,929 167 167
Property, Plant and Equipment 58,331 64,264 1,737,104 1,769,274 119,829 121,546
Intangible Assets 567 733 - - - -
Deferred Tax Assets 360,425 286,087 - - - -
Other Non-Current Assets 24,881 23,656 7,959,740 6,155,749 3,214 2,995
Total Non-Current Assets 910,670 963,235 72,597,949 69,966,481 123,211 124,708
Total Assets 2,264,495 2,415,697 142,222,095 137,084,271 889,901 915,088
LIABILITIES
Current Liabilities
Financial Liabilities 1,444,970 1,378,165 476,184 307,898 46,579 62,845
Inter-Agency Payables 7,454 8,674 2,326,730 4,159,328 1,785 1,140
Trust Liabilities 25,084 22,341 15,510,150 7,332,586 911 680
Deferred Credits/Unearned Income 26,520 26,951 1,884 2,520 1,884 2,520
Provisions 13,771 - - - - -
Other Payables 2,081 2,081 211,240 301,846 7,822 6,900
Total Current Liabilities 1,519,881 1,438,211 18,526,189 12,104,178 58,982 74,085
Financial Liabilities 136,001 168,629 - - - -
Deferred Credits/Unearned Income 43,445 42,827 4,690,721 4,343,096 - -
Provisions - - 360,276 720,430 43,994 42,038
Deferred Tax Liabilities 424 535 - - - -
Other Payables - - 210,712 204,030 - -
Total Non-Current Liabilities 179,870 211,991 5,261,709 5,267,556 43,994 42,038
Total Liabilities 1,699,751 1,650,203 23,787,898 17,371,734 102,976 116,123
NET ASSETS/EQUITY

Retained Earnings/(Deficit) (5,318,237) (5,149,072) - - - -
Stockholders' Equity - - - - - -
Cumulative Changes in Fair Value (78,918) (47,333) - - - -
Total Net Assets/Equity 564,744 765,495 118,434,197 119,712,538 786,926 798,966
Total Liabilities and Net Assets/Equity 2,264,495 2,415,697 142,222,095 137,084,271 889,901 915,088
426
(in thousand pesos)
NHA
2018 2017
(Restated)
ASSETS
Current Assets
Cash and Cash Equivalents 3,930,096 11,610,780
Receivables 8,794,102 7,988,241
Inventories 52,975,220 43,662,592
Other Current Assets 3,158,038 3,065,797
Total Current Assets 68,857,456 66,327,411
Non-Current Assets
Investments in Joint Venture 4,848,126 5,336,975
Other Investments 39 39
Receivables 57,053,023 56,397,514
Investment Property 999,749 306,762
Property, Plant and Equipment 1,617,276 1,647,728
Intangible Assets - -
Deferred Tax Assets - -
Other Non-Current Assets 7,956,525 6,152,754
Total Non-Current Assets 72,474,738 69,841,772
Total Assets 141,332,194 136,169,183
LIABILITIES
Current Liabilities
Intra-Agency Payables - -
Provisions - -
Other Payables 203,419 294,946
Total Current Liabilities 18,467,207 12,030,093
Financial Liabilities - -
Inter-Agency Payables - -
Deferred Credits/Unearned Income 4,690,721 4,343,096
Provisions 316,282 678,392
Deferred Tax Liabilities - -
Other Payables 210,712 204,030
Total Non-Current Liabilities 5,217,715 5,225,518
Total Liabilities 23,684,922 17,255,611
NET ASSETS/EQUITY

Retained Earnings/(Deficit) - -
Stockholders' Equity - -
Cumulative Changes in Fair Value - -
Members’ Equity - -
Total Net Assets/Equity 117,647,272 118,913,572
Total Liabilities and Net Assets/Equity 141,332,194 136,169,183
427
(in thousand pesos)
TOTAL GBE APO

2018 2017 2018 2017 2018 2017
ASSETS
Current Assets
Financial Assets 4,549,474 4,107,270 3,549,333 3,105,389 - -
Receivables 195,720,952 217,156,184 9,654,729 9,313,469 707,228 381,108
Inventories 21,135,157 20,753,163 16,685,795 16,512,859 114,989 66,158
Non-Current Assets Held for Sale 541 842 541 842 - -
Other Current Assets 46,794,241 56,109,889 4,838,967 4,601,197 664,341 571,166
Non-Current Assets
Investments in Joint Venture 482,577 357,816 482,577 357,816 21,500 21,500
Investments in Associates/Affiliates 99,978 99,978 99,978 99,978 - -
Receivables 411,859,712 445,352,705 195,483 171,737 941 941
Investment Property 16,120,178 16,330,220 14,510,029 14,652,902 - -
Biological Assets 158 162 158 162 - -
Deferred Tax Assets 1,110,840 1,891,439 653,207 631,410 7,387 5,556
Total Non-Current Assets 1,191,361,110 1,280,738,160 225,913,465 219,411,794 120,053 128,803
Total Assets 1,536,234,308 1,657,245,612 290,127,488 280,636,093 1,982,107 1,311,797
LIABILITIES
Current Liabilities
Financial Liabilities 131,409,349 97,554,149 9,908,121 8,613,395 541,237 264,275
Intra-Agency Payables 3,620,833 3,743,670 69,207 90,566 - -
Provisions 9,367,901 9,127,603 598,473 416,522 - -
Other Payables 16,526,214 17,413,455 1,140,009 1,064,642 38,562 53,427
Total Current Liabilities 437,668,275 403,462,005 19,720,792 17,491,889 1,410,092 923,615
Inter-Agency Payables 4,925,953 4,938,580 28,856 41,483 - -
Intra-Agency Payables - 2,216 - 2,216 - -
Trust Liabilities 6,603,333 8,441,032 576,734 503,678 - -
Provisions 1,332,590 1,391,774 754,746 821,987 47,474 54,445
Deferred Tax Liabilities 3,903,600 4,393,686 3,605,972 3,546,536 3,366 3,366
Other Payables 2,862,465 2,431,951 729,649 628,650 78,289 43,745
Total Non-Current Liabilities 653,322,447 730,389,059 30,980,758 31,891,823 223,646 197,469
Total Liabilities 1,090,990,721 1,133,851,064 50,701,550 49,383,712 1,633,738 1,121,084
428
(in thousand pesos)
TOTAL GBE APO

2018 2017 2018 2017 2018 2017
NET ASSETS/EQUITY

Revaluation Surplus 90,928,706 89,395,924 90,928,706 89,395,924 2,908 2,908
Cumulative Translation Adjustment 23,672 (1,220) 23,672 (1,220) - -
Cumulative Changes in Fair Value 42,395,334 42,384,894 27,929 17,489 - -
Total Net Assets/Equity 445,243,587 523,394,547 239,425,938 231,252,381 348,369 190,713
Total Liabilities and Net Assets/Equity 1,536,234,308 1,657,245,611 290,127,488 280,636,093 1,982,107 1,311,797
429
(in thousand pesos)
CPA (Region 7) PNOC PNOC-AFC

2018 2017 2018 2017 2018 2017
ASSETS
Current Assets
Cash and Cash Equivalents 1,087,559 866,048 61,503 57,375 3,714 6,028
Financial Assets - - 1,626,945 790,651 250,793 243,651
Receivables 67,854 44,002 575,588 1,436,806 37,184 33,892
Inventories 13,320 13,201 13,689,427 13,789,377 - -
Non-Current Assets
Financial Assets - - 6,378,700 6,662,600 423,840 365,209
Investments in Associates/Affiliates - - 99,978 99,978 - -
Other Investments 41,555 41,843 96,632 96,632 3,657 3,657
Receivables - - 70,146 66,179 - -
Investment Property - - 11,368,924 11,337,559 2,574,485 2,574,485
Intangible Assets 1,792 2,582 - - - -
Other Non-Current Assets 647 622 329 329 2,286 2,286
Total Assets 7,466,817 6,964,872 40,124,464 40,689,388 4,167,355 4,121,865
LIABILITIES
Current Liabilities
Other Payables 15,868 16,361 307,083 148,538 - -
Provisions - - 26,940 26,282 - -
Deferred Tax Liabilities - - 2,754,434 2,754,435 695,544 695,544
Other Payables - - - - 4,979 5,004
Total Liabilities 735,920 622,015 3,955,789 3,578,375 807,345 799,119
430
(in thousand pesos)

2018 2017 2018 2017 2018 2017
NET ASSETS/EQUITY

Revaluation Surplus - - 9,181,439 9,181,439 707,688 707,688
Stockholders' Equity - - - - 2,400,000 2,400,000
Cumulative Changes in Fair Value - - (3,216) (866) - -
431
(in thousand pesos)
PNOC-DMC PNOC-EC PNOC-RC

2018 2017 2018 2017 2018 2017
ASSETS
Current Assets
Cash and Cash Equivalents 3,600 5,732 3,404,879 1,003,669 91,364 98,151
Financial Assets 127,770 44,543 - 705,011 - -
Receivables 103,668 109,474 749,121 697,521 61,300 64,360
Inventories 17,816 17,818 158,109 163,360 - -
Total Current Assets 253,642 177,814 4,901,729 3,193,834 191,702 196,106
Non-Current Assets
Financial Assets 421,833 411,382 1,634 1,654 151,915 253,219
Investments in Joint Venture - - 70,684 70,684 161,820 161,820
Other Investments 24 45,727 5,862,857 5,305,492 13,344 6,259
Receivables 2,103 9,283 - - - -
Property, Plant and Equipment 171 198 6,004,489 7,527,127 149,932 117,724
Intangible Assets - - - - - -
Other Non-Current Assets 10,926 10,926 198,857 145,476 831 831
Total Assets 911,595 879,193 17,327,806 16,510,955 947,074 1,013,490
LIABILITIES
Current Liabilities
Financial Liabilities 79 1,560 289,626 231,899 10,954 25,904
Trust Liabilities - - 2,027 54,133 8 -
Deferred Credits/Unearned Income - - 55 - - -
Other Payables - - - - 42,480 51,158
Deferred Credits/Unearned Income 127,347 140,138 2,348,455 2,360,064 5,731 5,567
Provisions - - 240,710 246,869 - -
Deferred Tax Liabilities 64,799 64,799 54,504 - 16,099 16,099
Other Payables 153 153 107,774 110,880 - -
432
(in thousand pesos)

2018 2017 2018 2017 2018 2017
NET ASSETS/EQUITY
Revaluation Surplus 152,576 152,576 - - 252,215 252,215
Retained Earnings/(Deficit) 492,506 444,314 12,124,185 11,362,918 237,233 277,325
Stockholders' Equity 72,301 72,301 2,113,251 2,113,251 374,972 374,972
Cumulative Translation Adjustment - - 23,672 (1,220) - -
Cumulative Changes in Fair Value - - - (190) - -
Total Liabilities and Net Assets/Equity 911,595 879,193 17,327,806 16,510,955 947,074 1,013,490
433
(in thousand pesos)
PNOC-STC PPA PRI (Region 6)

2018 2017 2018 2017 2018 2017
ASSETS
Current Assets
Cash and Cash Equivalents 61 82 6,862,604 6,290,801 20,134 15,822
Financial Assets - - 1,370,979 1,103,987 - -
Other Investments - - 3,943,887 6,008,816 14 17
Receivables 7,658 666 2,589,555 2,270,460 63,963 62,353
Inventories 1,805 1,805 75,444 65,752 - 21
Other Current Assets 16,461 17,109 2,060,338 1,904,730 168 758
Non-Current Assets
Financial Assets 46,177 33,797 - - - -
Receivables 2,194 3,353 - - - -
Investment Property 13,140 13,140 - - - -
Intangible Assets - - 1,309 141,126 - -
Deferred Tax Assets - - - - - -
Other Non-Current Assets 132 132 452,047 820,654 - -
Total Assets 90,447 73,741 133,361,979 131,595,325 307,828 353,269
LIABILITIES
Current Liabilities
Financial Liabilities 65,258 66,123 4,122,573 3,652,635 - 0
Inter-Agency Payables 1,332,453 1,324,636 634,288 895,500 268 84
Trust Liabilities - - 1,318,378 1,050,454 - -
Deferred Credits/Unearned Income - - 797,866 857,490 4,247 -
Provisions - - 226,980 132,047 - -
Other Payables - - 57,363 81,401 23,564 34,060
Financial Liabilities - - 3,350,371 3,549,826 11,028 11,028
Deferred Credits/Unearned Income 76 - 7,129 10,054 - -
Provisions - - 169,949 270,221 - -
Deferred Tax Liabilities 5,295 4,381 6,650 6,916 - -
Other Payables 6,932 9,766 - - - -
434
(in thousand pesos)

2018 2017 2018 2017 2018 2017
NET ASSETS/EQUITY
Government Equity - - 6,461,024 6,446,574 95,727 95,727

Retained Earnings/(Deficit) (1,540,713) (1,539,710) 37,432,877 35,855,327 172,993 212,369
Cumulative Changes in Fair Value 31,145 18,545 - - - -
Total Net Assets/Equity (1,319,568) (1,331,165) 122,670,431 121,088,780 268,720 308,097
Total Liabilities and Net Assets/Equity 90,447 73,741 133,361,979 131,595,325 307,828 353,269
435
(in thousand pesos)
WATER DISTRICTS Non-GBE LRTA

2018 2017 2018 2017 2018 2017
ASSETS
Current Assets
Other Investments 1,194,573 1,019,035 292 217 217 217
Receivables 4,691,610 4,212,829 186,066,223 207,842,714 2,824,692 2,808,188
Inventories 2,614,885 2,395,367 4,449,361 4,240,304 478,277 461,329
Non-Current Assets Held for Sale 541 842 - - - -
Other Current Assets 1,022,385 820,513 41,955,274 51,508,692 201,558 151,407
Non-Current Assets
Receivables 120,098 91,982 411,664,228 445,180,968 - -
Investment Property 59,836 234,073 1,610,149 1,677,318 - -
Biological Assets 158 162 - - - -
Deferred Tax Assets 5,721 5,543 457,634 1,260,029 - -
Total Non-Current Assets 61,587,604 56,628,359 965,447,645 1,061,326,367 60,813,123 64,027,766
Total Assets 83,440,015 77,122,196 1,246,106,820 1,376,609,518 64,474,038 67,846,243
LIABILITIES
Current Liabilities
Inter-Agency Payables 717,483 623,086 235,459,702 231,026,680 44,518,132 40,855,767
Intra-Agency Payables 10,394 20,484 3,551,626 3,653,104 2,978,390 3,002,078
Trust Liabilities 1,031,303 983,721 10,356,306 9,101,921 219,735 202,397
Deferred Credits/Unearned Income 430,731 158,415 22,922,989 28,187,764 2,216 13,159
Provisions 371,494 284,474 8,769,427 8,711,081 - -
Other Payables 655,088 679,697 15,386,205 16,348,813 85,041 96,026
Inter-Agency Payables 28,856 41,483 4,897,097 4,897,097 - -
Intra-Agency Payables - 2,216 - - - -
Trust Liabilities 556,434 488,336 6,026,599 7,937,353 - -
Provisions 269,673 224,171 577,844 569,787 - -
Deferred Tax Liabilities 5,280 996 297,628 847,150 212,160 488,573
Other Payables 531,522 459,101 2,132,816 1,803,300 - -
Total Liabilities 28,084,523 27,951,320 1,040,289,171 1,084,467,352 70,510,200 67,880,330
436
(in thousand pesos)

2018 2017 2018 2017 2018 2017
NET ASSETS/EQUITY
Government Equity 5,969,535 5,765,387 130,291,155 216,615,720 (6,036,162) (34,087)

Revaluation Surplus 1,855,351 312,218 - - - -
Retained Earnings/(Deficit) 47,530,606 43,093,271 - - - -
Cumulative Changes in Fair Value - - 42,367,405 42,367,405 - -
Total Net Assets/Equity 55,355,492 49,170,876 205,817,649 292,142,166 (6,036,162) (34,087)
Total Liabilities and Net Assets/Equity 83,440,015 77,122,196 1,246,106,820 1,376,609,518 64,474,038 67,846,243
437
(in thousand pesos)
LWUA MWSS NEA

2018 2017 2018 2017 2018 2017
ASSETS
Current Assets
Financial Assets 141 1,881 - - - -
Receivables 1,787,633 2,361,238 6,245,937 6,244,927 5,670,836 5,509,914
Inventories 4,132 3,968 - - 2,243 6,132
Non-Current Assets
Receivables 6,473,535 6,056,763 - - 11,076,251 10,340,362
Deferred Tax Assets - 965,104 - - - -
Other Non-Current Assets 751,643 465,132 1,490,887 1,488,449 14,435 4,711
Total Assets 14,964,377 15,480,661 56,517,278 57,867,008 20,489,016 23,813,664
LIABILITIES
Current Liabilities
Inter-Agency Payables 26,947 26,928 91,104 152,797 17,472,769 18,310,645
Intra-Agency Payables - - 29 - - -
Other Payables 303,370 612,549 659,949 820,871 1,400,312 10,038,177
Total Current Liabilities 788,366 1,132,611 2,631,492 2,767,230 19,000,713 28,490,500
Financial Liabilities 2,818,749 2,847,901 7,077,380 7,925,966 - -
Trust Liabilities 376,280 2,352,274 - - - -
Deferred Credits/Unearned Income 1,142,526 961,779 1,889,311 1,862,170 36,616 58,514
Deferred Tax Liabilities - 261,681 - - - -
438
(in thousand pesos)
LWUA MWSS NEA

2018 2017 2018 2017 2018 2017
NET ASSETS/EQUITY
Government Equity 9,838,457 7,924,415 38,823,608 39,216,155 1,451,687 (4,735,350)

Retained Earnings/(Deficit) - - - - - -
Total Net Assets/Equity 9,838,457 7,924,415 44,919,095 45,311,641 1,451,687 (4,735,350)
439
(in thousand pesos)
NPC PNR PPC

2018 2017 2018 2017 2018 2017
(Restated)
ASSETS
Current Assets
Cash and Cash Equivalents 17,739,542 19,585,410 1,690,045 312,112 3,101,320 2,882,267
Receivables 4,365,394 4,507,638 545,255 520,673 2,643,171 2,228,282
Inventories 1,221,425 1,313,927 217,325 116,324 172,054 181,108
Non-Current Assets
Investments in Subsidiaries - - - - 5,302 474,763
Other Investments 1,720 1,720 2,566 2,566 - -
Receivables 759,959 1,040,396 - - - -
Investment Property - - - - - -
Deferred Tax Assets 310,900 181,380 - - 146,733 113,545
Other Non-Current Assets 5,493,948 5,416,071 - - 480,194 786,626
Total Assets 48,946,872 48,679,781 54,175,930 52,484,152 11,151,279 10,895,070
LIABILITIES
Current Liabilities
Financial Liabilities 7,604,212 5,490,385 955,184 642,846 1,933,713 1,844,553
Intra-Agency Payables - - - - 573,206 651,026
Deferred Credits/Unearned Income 1,008,630 1,023,012 - - 996,978 734,848
Provisions - - 210 - 365,217 307,081
Other Payables 401,381 373,866 - - 251,266 315,419
Financial Liabilities 577,112 640,066 1,307,541 1,552,409 - 6,366
Trust Liabilities 5,650,319 5,585,079 - - - -
Deferred Credits/Unearned Income 3,563,034 4,616,637 404,532 390,637 - -
Provisions 577,844 569,787 - - - -
Deferred Tax Liabilities - - - - 85,468 96,896
Other Payables - - - - 23,535 172,007
440
(in thousand pesos)
NPC PNR PPC

2018 2017 2018 2017 2018 2017
(Restated)
NET ASSETS/EQUITY
Government Equity 2,098,299 3,007,630 (16,516,631) (15,911,873) 3,421,856 3,310,188

Stockholders' Equity 27,063,602 27,063,554 - - - -
Cumulative Changes in Fair Value - - 40,371,036 40,371,036 1,996,369 1,996,369
441
(in thousand pesos)
PSALM TRANSCO
2018 2017 2018 2017
(Restated)
ASSETS
Current Assets
Cash and Cash Equivalents 12,031,757 9,752,831 1,218,251 807,669
Financial Assets 1,000,000 1,000,000 - -
Other Investments 75 - - -
Receivables 157,812,876 176,833,402 4,170,428 6,828,452
Inventories 2,352,781 2,156,562 1,124 953
Non-Current Assets Held for Sale - - - -
Other Current Assets 30,338,928 41,971,282 3,220,339 2,619,833
Total Current Assets 203,536,416 231,714,077 8,610,142 10,256,909
Non-Current Assets
Financial Assets 8,739,206 8,299,909 - -
Investments in Joint Venture - - - -
Investments in Associates/Affiliates - - - -
Investments in Subsidiaries 154,954,153 218,211,221 - -
Other Investments - - 608 608
Receivables 232,947,603 265,924,889 160,406,881 161,818,558
Investment Property 1,537,434 1,604,592 - -
Property, Plant and Equipment 55,065,428 58,423,165 140,791,729 134,187,613
Biological Assets - - - -
Intangible Assets - - 4,065 6,212
Deferred Tax Assets - - - -
Other Non-Current Assets 5,737,118 4,587,025 3,057,249 4,508,162
Total Non-Current Assets 458,980,941 557,050,801 304,260,532 300,521,153
Total Assets 662,517,358 788,764,878 312,870,674 310,778,062
LIABILITIES
Current Liabilities
Financial Liabilities 104,731,627 74,189,822 1,508,029 1,835,315
Inter-Agency Payables 144,261,399 145,021,166 485,873 443,932
Intra-Agency Payables - - - -
Trust Liabilities 8,889,333 7,596,146 1,240 1,346
Deferred Credits/Unearned Income 13,284,489 18,741,485 7,630,678 7,675,260
Provisions 8,404,000 8,404,000 - -
Other Payables 10,945,034 2,738,930 1,339,852 1,352,975
Total Current Liabilities 290,515,883 256,691,549 10,965,672 11,308,827
Financial Liabilities 379,043,844 437,451,611 - -
Inter-Agency Payables - - 4,897,097 4,897,097
Trust Liabilities - - - -
Deferred Credits/Unearned Income 45,143,308 62,867,186 145,502,904 140,856,733
Provisions - - - -
Deferred Tax Liabilities - - - -
Other Payables - - 2,109,281 1,631,293
Total Non-Current Liabilities 424,187,153 500,318,797 152,509,282 147,385,124
Total Liabilities 714,703,035 757,010,346 163,474,954 158,693,951
442
(in thousand pesos)
PSALM TRANSCO
2018 2017 2018 2017
(Restated)
NET ASSETS/EQUITY
Government Equity (52,185,678) 31,754,532 149,395,719 152,084,111

Revaluation Surplus - - - -
Retained Earnings/(Deficit) - - - -
Stockholders' Equity - - - -
Cumulative Translation Adjustment - - - -
Cumulative Changes in Fair Value - - - -
Total Net Assets/Equity (52,185,678) 31,754,532 149,395,719 152,084,111
Total Liabilities and Net Assets/Equity 662,517,358 788,764,878 312,870,674 310,778,062
443
(in thousand pesos)
TOTAL GBE AFAB (Region 3)

2018 2017 2018 2017 2018 2017
ASSETS
Current Assets
Receivables 18,373,143 17,335,553 17,918,123 16,995,531 106,541 115,793
Inventories 2,185,990 1,907,981 2,161,184 1,887,620 5,124 5,324
Non-Current Assets Held for Sale 19,371 19,371 19,371 19,371 - -
Other Current Assets 4,254,125 2,637,523 3,997,836 2,473,649 148,918 208,110
Non-Current Assets
Investments in Joint Venture 1,133,231 1,065,921 1,133,231 1,065,921 - -
Investments in Associates/Affiliates 14,479,229 15,107,209 14,308,359 14,937,672 - -
Receivables 32,377,786 12,727,378 31,760,363 12,087,585 - -
Investment Property 121,041,733 118,372,724 120,705,997 118,029,520 471,728 451,662
Deferred Tax Assets 4,608,997 3,784,487 4,608,997 3,784,487 - -
Other Non-Current Assets 11,434,671 17,237,191 11,248,663 17,029,945 441 478
Total Assets 559,789,549 478,499,284 533,397,597 454,204,193 2,479,785 2,382,356
LIABILITIES
Current Liabilities
Deferred Credits/Unearned Income 893,673 1,489,654 785,502 1,386,501 18,511 82,027
Provisions 932,752 847,861 851,961 778,081 5,162 8,357
Other Payables 5,797,290 5,621,336 5,717,365 5,556,230 - -
Inter-Agency Payables 16,831,683 17,045,936 15,975,547 16,204,536 - -
Provisions 828,576 915,411 828,576 915,411 13,431 5,476
Deferred Tax Liabilities 8,594,100 7,460,075 8,594,100 7,460,075 - -
Other Payables 4,236,265 3,741,876 4,228,968 3,731,795 - -
444
(in thousand pesos)
TOTAL GBE AFAB (Region 3)

2018 2017 2018 2017 2018 2017
NET ASSETS/EQUITY

Revaluation Surplus 59,282,045 6,053,043 59,282,045 6,053,043 - -
Cumulative Changes in Fair Value 100,509 30,321 100,509 30,321 - -
445
(in thousand pesos)
BCDA BMHI CDC (Region 3)

2018 2017 2018 2017 2018 2017
ASSETS
Current Assets
Cash and Cash Equivalents 10,354,618 6,108,454 9,011 14,567 2,441,691 1,858,399
Receivables 3,073,959 4,942,817 21,950 18,795 408,866 439,507
Inventories 870,797 631,899 - - 4,305 3,420
Other Current Assets 2,313,954 929,766 9,811 9,812 62,867 49,364
Total Current Assets 21,973,366 15,282,207 283,474 279,448 2,917,729 2,350,690
Non-Current Assets
Financial Assets 4,744,081 7,022,062 - - 330,000 130,000
Investments in Associates/Affiliates 14,056,048 14,709,331 - - - -
Investments in Subsidiaries 3,546,715 3,546,715 - - - -
Other Investments 103,024 103,024 13,898 13,898 36,890 36,890
Receivables 29,310,489 8,117,200 - - - -
Property, Plant and Equipment 30,299,535 30,004,991 2,767 2,988 3,830,399 3,725,787
Deferred Tax Assets 3,864,589 3,081,638 - - - -
Other Non-Current Assets 1,590,037 2,390,448 20,337 20,060 1,259,007 1,113,895
Total Assets 182,793,935 159,452,222 320,476 316,395 8,374,024 7,357,260
LIABILITIES
Current Liabilities
Financial Liabilities 1,043,152 955,259 8,969 8,279 519,385 507,132
Inter-Agency Payables 6,880,523 4,745,514 12,030 11,481 89,031 50,124
Intra-Agency Payables - - 794 821 9,189 7,535
Provisions 25,430 21,508 - - - -
Other Payables 1,036,213 815,439 0 1,722 46,367 27,285
Deferred Credits/Unearned Income 10,541,976 10,696,195 - - 1,463,941 1,382,759
Provisions - - - - 311,290 322,844
Other Payables 1,421,096 1,421,096 - - - -
Total Non-Current Liabilities 31,886,784 31,508,609 - - 2,660,026 2,470,212
446
(in thousand pesos)

2018 2017 2018 2017 2018 2017
NET ASSETS/EQUITY
Revaluation Surplus 6,956,428 5,505,449 - - - -
Retained Earnings/(Deficit) 34,902,719 15,900,445 18,683 14,091 2,174,534 1,386,976
Stockholders' Equity 100,000,000 100,000,000 280,000 280,000 2,813,507 2,813,507
Cumulative Changes in Fair Value 62,687 - - - - -
447
(in thousand pesos)
CIAC (Region 3) JHMC (CAR) NORTHRAIL

2018 2017 2018 2017 2018 2017
(Restated)
ASSETS
Current Assets
Cash and Cash Equivalents 2,133,457 473,605 105,141 82,455 575,998 587,986
Receivables 146,931 167,399 46,124 33,537 26,289 17,955
Inventories 10,149 9,727 6,781 6,567 71 72
Total Current Assets 2,303,212 680,065 220,948 193,389 721,551 726,513
Non-Current Assets
Financial Assets - - 5,500 - 170,442 164,763
Other Investments 67,159 109,106 132 132 450 450
Receivables - - 847 959 - -
Investment Property - - 17,490 18,939 - -
Intangible Assets 2,495 2,883 567 860 - -
Other Non-Current Assets 46,188 14,236 6,882 6,882 3,887,078 11,349,389
Total Assets 4,631,535 3,117,987 263,039 231,981 12,994,180 20,456,294
LIABILITIES
Current Liabilities
Inter-Agency Payables 57,200 50,831 22,584 4,130 672 749
Deferred Credits/Unearned Income 32,037 39,507 104 155 - -
Other Payables 14,905 13,755 402 167 7,873 465,064
Inter-Agency Payables 2,946,375 1,681,641 - - 12,774,629 14,273,026
Trust Liabilities 126,478 94,899 - - 1,811,791 1,811,791
Deferred Credits/Unearned Income 27,377 10,913 - - 3,476,140 3,451,231
Other Payables - - - - 2,261,796 1,784,897
Total Non-Current Liabilities 3,304,267 2,088,091 - - 20,324,355 21,320,944
448
(in thousand pesos)

2018 2017 2018 2017 2018 2017
(Restated)
NET ASSETS/EQUITY
Retained Earnings/(Deficit) (324,928) (606,173) (195,383) (203,625) (7,445,823) (1,438,045)
Stockholders' Equity 1,328,361 1,211,766 383,814 383,814 100,000 100,000
Total Net Assets/Equity 1,003,433 605,593 188,431 180,189 (7,345,823) (1,338,045)
449
(in thousand pesos)
PPMC (Region 1) CAAP CEZA

2018 2017 2018 2017 2018 2017
(Restated)
ASSETS
Current Assets
Financial Assets - - 2,467,249 1,352,703 - -
Other Investments 70,439 50,811 6,562,063 8,293,307 - -
Receivables 7,035 17,312 3,075,282 2,669,888 147,863 13,778
Inventories 1,664 2,198 97,704 57,911 614 268
Other Current Assets 2,295 2,133 136,751 149,038 - -
Non-Current Assets
Financial Assets - - 500,000 500,000 - -
Investments in Joint Venture 15,000 15,000 - - 691,000 691,000
Other Investments 15 15 1,551,401 979,639 10,000 10,000
Receivables - - - - - -
Property, Plant and Equipment 5,555 6,102 51,744,262 52,593,593 4,119,886 4,116,322
Intangible Assets 20 20 - - 350 -
Deferred Tax Assets - - - - 4,558 5,993
Total Assets 200,025 186,071 69,728,524 72,707,884 6,927,554 6,604,524
LIABILITIES
Current Liabilities
Provisions - - 131,429 87,752 - -
Other Payables 6,643 7,355 - - 3,077 1,501
Total Current Liabilities 81,926 77,887 1,987,678 4,191,879 181,563 10,687
Trust Liabilities - - 117,083 75,020 5,967 4,059
Deferred Credits/Unearned Income - - 298 - 542 792
Provisions - - 498,789 582,417 - -
Other Payables - - 56,970 36,695 - -
Total Non-Current Liabilities 18,437 18,437 673,139 694,132 6,510 4,850
450
(in thousand pesos)

2018 2017 2018 2017 2018 2017
(Restated)
NET ASSETS/EQUITY
Government Equity - - 75,978,768 75,978,768 - -

Retained Earnings/(Deficit) 16,518 6,603 (8,911,822) (8,156,894) 984,340 833,845
Stockholders' Equity 83,144 83,144 - - 5,755,142 5,755,142
Cumulative Changes in Fair Value - - 760 - - -
451
(in thousand pesos)
NLPCSI MCIAA (Region 7) MIAA

2018 2017 2018 2017 2018 2017
ASSETS
Current Assets
Financial Assets - - - 1,317,088 - -
Other Investments 31,600 31,600 - 703,053 12,298,736 11,489,484
Receivables - - 325,970 216,927 4,147,703 1,974,024
Inventories - - 26,342 26,632 21,122 16,665
Other Current Assets - - 206,347 271,635 726,551 520,021
Non-Current Assets
Financial Assets - - 1,300,000 - - -
Investments in Associates/Affiliates - - - - 11,850 11,850
Investments in Subsidiaries - - - - 655 655
Investment Property - - - - 36,032 38,651
Property, Plant and Equipment - - 57,186,085 5,315,637 35,600,919 35,936,674
Deferred Tax Assets - - - - 622,002 585,759
Other Non-Current Assets - - 1,794 1,794 788,741 286,865
Total Non-Current Assets - - 59,290,932 5,317,431 37,060,200 36,860,454
Total Assets 42,065 42,898 65,043,323 13,066,724 59,323,060 54,622,861
LIABILITIES
Current Liabilities
Inter-Agency Payables - - 325,303 467,786 1,441,051 1,249,182
Provisions - - - - 132,901 131,846
Other Payables - - 279,145 220,677 3,703,470 2,550,846
Financial Liabilities 964 2,017 - - 2,920,295 3,687,040
Total Non-Current Liabilities 964 2,017 - - 3,075,280 3,836,145
452
(in thousand pesos)

2018 2017 2018 2017 2018 2017
NET ASSETS/EQUITY
Government Equity - - 4,619,857 4,619,857 15,461,553 15,461,553

Revaluation Surplus - - 51,778,022 - - -
Retained Earnings/(Deficit) 12 (171) 7,825,799 7,542,978 32,162,328 28,707,306
453
(in thousand pesos)
MRHI (ARMM) NDC BLCI

2018 2017 2018 2017 2018 2017
ASSETS
Current Assets
Cash and Cash Equivalents 1,155 720 13,046 1,945 1,955 23,940
Other Investments - - 2,346,662 2,133,232 - -
Receivables 490 324 249,081 247,098 6,221 3,010
Inventories 6,443 6,195 1,273 1,075 - -
Other Current Assets - - 33,665 24,142 20 21
Non-Current Assets
Financial Assets - - 1,234,337 1,155,136 - 7
Investments in Subsidiaries - - 402,315 402,315 - -
Receivables - - 1,362,026 2,816,773 - -
Investment Property - - 15,216,979 10,621,823 33,319 33,294
Property, Plant and Equipment 36,387 35,010 13,163 8,086 0 0
Intangible Assets - - 486 - - -
Other Non-Current Assets - 155 28,735 20,943 268 268
Total Assets 44,475 42,404 21,371,878 17,872,710 65,778 62,985
LIABILITIES
Current Liabilities
Financial Liabilities 94 179 1,729,116 2,847,929 - -
Provisions - - 161,397 160,835 - -
Other Payables 578 77 - - 608 485
Total Current Liabilities 813 356 1,940,396 3,059,060 21,022 17,945
Deferred Tax Liabilities - - 3,784,710 2,521,500 - -
Other Payables 14 14 - - - -
Total Non-Current Liabilities 2,014 2,014 3,829,279 2,560,878 - -
454
(in thousand pesos)

2018 2017 2018 2017 2018 2017
NET ASSETS/EQUITY
Government Equity 7,291 7,233 - - - -

Retained Earnings/(Deficit) 12,307 10,751 6,962,377 3,619,648 8,133 8,417
Stockholders' Equity - - 8,602,803 8,602,803 36,623 36,623
Cumulative Changes in Fair Value - - 37,022 30,321 - -
455
(in thousand pesos)
FCIEI GYREI IIGSI

2018 2017 2018 2017 2018 2017
(Restated)
ASSETS
Current Assets
Cash and Cash Equivalents 294 1,832 1,791 52,297 115 115
Financial Assets 1,199 - 21,991 - - -
Receivables 389 930 752 1,079 0 0
Inventories - - - - - -
Non-Current Assets Held for Sale - - - - 18,651 18,651
Other Current Assets - - 196 5 - -
Total Current Assets 1,882 2,763 24,730 53,382 18,766 18,766
Non-Current Assets
Receivables 97 235 - - - -
Investment Property - - 9,086 9,086 - -
Property, Plant and Equipment 0 0 - - - -
Other Non-Current Assets 2,680 2,671 3 3 - -
Total Non-Current Assets 2,777 2,906 9,090 9,090 - -
Total Assets 4,659 5,669 33,820 62,471 18,766 18,766
LIABILITIES
Current Liabilities
Inter-Agency Payables 12,673 12,676 62 1,483 76,246 75,921
Trust Liabilities 15 15 504 504 - -
Deferred Credits/Unearned Income 88 88 - - - -
Other Payables 5 7 462 406 241 190
Total Non-Current Liabilities - - - - - -
Total Liabilities 12,782 12,786 1,029 2,393 76,487 76,111
456
(in thousand pesos)
FCIEI GYREI IIGSI

2018 2017 2018 2017 2018 2017
(Restated)
NET ASSETS/EQUITY
Revaluation Surplus - - - - 18,407 18,407
Retained Earnings/(Deficit) (18,123) (17,118) 23,705 50,992 (80,429) (80,053)
Total Net Assets/Equity (8,123) (7,118) 32,791 60,078 (57,721) (57,345)
Total Liabilities and Net Assets/Equity 4,659 5,669 33,820 62,471 18,766 18,766
457
(in thousand pesos)
KRC MGC NPIC

2018 2017 2018 2017 2018 2017
ASSETS
Current Assets
Financial Assets - - - - 47,206 -
Receivables 392 208 63,923 63,920 504 7
Inventories - - - - - -
Non-Current Assets Held for Sale 720 720 - - - -
Other Current Assets 18 10 - - - -
Non-Current Assets
Receivables - - 18,525 18,575 - -
Property, Plant and Equipment - - - - - -
Other Non-Current Assets - - 998 973 - -
Total Non-Current Assets 4,859 4,859 19,524 19,549 - -
Total Assets 22,112 40,992 129,258 129,975 50,948 50,882
LIABILITIES
Current Liabilities
Financial Liabilities - - 498 498 - -
Inter-Agency Payables 609 688 57 49 - -
Trust Liabilities 788 788 - - - -
Other Payables 247 95 719 487 3 4
Total Current Liabilities 5,057 4,860 1,275 1,035 3 4
Total Liabilities 5,057 4,860 1,275 1,035 3 4
458
(in thousand pesos)
KRC MGC NPIC

2018 2017 2018 2017 2018 2017
NET ASSETS/EQUITY
Retained Earnings/(Deficit) 10,323 29,399 47,983 48,940 (29,056) (29,122)
Total Net Assets/Equity 17,055 36,132 127,983 128,940 50,944 50,878
459
(in thousand pesos)
PRC PADC PEZA

2018 2017 2018 2017 2018 2017
ASSETS
Current Assets
Other Investments - - - - 2,503,626 1,749,729
Receivables 449 599 23,626 11,226 498,541 414,288
Inventories - - 54,754 52,230 12,152 11,662
Non-Current Assets
Other Investments - - 61 61 317,482 265,241
Property, Plant and Equipment - - 10,668 11,197 4,919,811 4,930,983
Deferred Tax Assets - - 57 57 76,812 72,307
Other Non-Current Assets - - 2,119 2,119 30,772 183,916
Total Assets 4,391 4,573 189,245 158,235 8,996,999 8,100,844
LIABILITIES
Current Liabilities
Financial Liabilities - - 9,232 6,277 265,521 276,976
Deferred Credits/Unearned Income - - 4,543 - - -
Provisions - - - - 373,459 367,784
Other Payables 3 28 20,414 16,057 11,316 28,079
Total Current Liabilities 233 238 54,443 36,990 1,053,343 1,051,315
Financial Liabilities - - - - 82,474 87,012
Provisions - - 5,066 4,674 - -
Deferred Tax Liabilities - - 84 49 - -
Total Non-Current Liabilities - - 11,498 10,299 440,469 280,031
Total Liabilities 233 238 65,941 47,289 1,493,812 1,331,346
460
(in thousand pesos)
PRC PADC PEZA

2018 2017 2018 2017 2018 2017
NET ASSETS/EQUITY
Government Equity - - - - 2,136,008 2,136,008

Retained Earnings/(Deficit) 1,906 2,084 (134,363) (146,722) 5,367,180 4,633,490
Stockholders' Equity 2,252 2,252 257,667 257,667 - -
461
(in thousand pesos)
PIA (Region 10) PNCC ASDI

2018 2017 2018 2017 2018 2017
ASSETS
Current Assets
Receivables 813,892 831,462 466,782 446,706 5,555 5,560
Inventories 47,629 44,905 3,710 3,421 - -
Other Current Assets 1,241 326 23,120 18,785 9,799 9,790
Non-Current Assets
Investments in Joint Venture 81 81 - - - -
Property, Plant and Equipment 2,540,179 2,659,534 658,570 665,180 31 31
Other Non-Current Assets 192,377 158,425 174,479 178,656 - -
Total Non-Current Assets 4,126,779 3,951,535 16,539,343 16,547,844 100,031 100,031
Total Assets 5,733,045 5,750,237 17,968,293 17,805,784 118,790 119,005
LIABILITIES
Current Liabilities
Financial Liabilities 349,219 194,598 9,562,687 9,313,329 - -
Inter-Agency Payables 798,378 1,013,338 8,400 2,948 11 16
Deferred Credits/Unearned Income - - 25,501 25,175 - -
Total Current Liabilities 1,263,248 1,316,455 9,635,951 9,385,078 11 16
Deferred Credits/Unearned Income 933,012 1,127,598 - - - -
Deferred Tax Liabilities - - 4,595,208 4,595,208 - -
Total Non-Current Liabilities 3,452,602 3,574,404 4,598,998 4,598,998 - -
Total Liabilities 4,715,850 4,890,859 14,234,949 13,984,075 11 16
462
(in thousand pesos)

2018 2017 2018 2017 2018 2017
NET ASSETS/EQUITY

Revaluation Surplus - - 454,865 454,865 - -
Retained Earnings/(Deficit) 817,195 659,379 (4,530,324) (4,441,919) (1,221) (1,011)
Stockholders' Equity - - 7,808,763 7,808,763 120,000 120,000
Cumulative Changes in Fair Value - - 40 - - -
Total Net Assets/Equity 1,017,195 859,379 3,733,344 3,821,708 118,779 118,989
463
(in thousand pesos)
CDCP-FC DCBGSI PRecA

2018 2017 2018 2017 2018 2017
ASSETS
Current Assets
Cash and Cash Equivalents 568 567 13,023 12,563 1,151,678 3,580,248
Financial Assets - - - - 7,612,697 5,667,881
Receivables 57 124 85,432 86,495 3,164,187 3,373,843
Inventories - - 100 100 892,023 901,447
Other Current Assets - - 643 699 80,414 78,862
Total Current Assets 625 691 99,199 99,858 12,901,000 13,602,282
Non-Current Assets
Investments in Subsidiaries - - - - 2,000 7,000
Other Investments - - - - 2,226 2,226
Receivables - - - - 688,908 803,242
Property, Plant and Equipment 20,806 20,806 965 1,074 8,400,025 7,582,178
Intangible Assets - - - - 187 765
Other Non-Current Assets - - 10,608 8,043 117 117
Total Assets 21,430 21,497 110,772 108,974 31,348,219 31,351,565
LIABILITIES
Current Liabilities
Financial Liabilities - - - - 1,331,371 1,328,216
Inter-Agency Payables - - 7 7 8,538 227,578
Other Payables 18 18 594 594 229,335 790,465
Inter-Agency Payables - - 50,484 48,818 - -
Deferred Credits/Unearned Income - - - - 8,006,384 7,159,477
Deferred Tax Liabilities - - - - 214,098 343,318
Other Payables - - - - 489,093 489,093
Total Non-Current Liabilities - - 50,484 48,818 8,709,575 7,991,888
464
(in thousand pesos)

2018 2017 2018 2017 2018 2017
NET ASSETS/EQUITY
Government Equity - - - - 3,248,276 3,248,276

Retained Earnings/(Deficit) (47,549) (47,677) (40,783) (40,914) 17,804,891 17,749,114
Total Net Assets/Equity (11,924) (12,052) 56,230 56,099 21,053,167 20,997,390
465
(in thousand pesos)
PEATC SBMA (Region 3) ZCSEZA (Region 9)

2018 2017 2018 2017 2018 2017
ASSETS
Current Assets
Receivables 3,843 1,389 928,919 836,627 70,575 42,902
Inventories 197 205 97,459 104,939 771 759
Non-Current Assets
Financial Assets 25,189 24,937 - 120,000 1,000 1,000
Investments in Associates/Affiliates - - - 5,999 - -
Other Investments 192,751 139,629 3,772,476 3,635,406 - -
Receivables - - 379,470 330,601 - -
Investment Property - - 5,945,930 6,216,974 - -
Other Non-Current Assets 1,411 4,180 3,126,415 1,239,605 22 182
Total Assets 244,238 221,524 32,985,972 31,070,022 812,984 659,620
LIABILITIES
Current Liabilities
Provisions 22,181 - - - - -
Other Payables 3,744 1,391 350,536 613,437 446 599
Total Current Liabilities 35,905 16,203 2,682,128 3,321,251 26,270 16,664
Financial Liabilities - - 5,777,022 5,896,688 - -
Inter-Agency Payables 204,059 201,050 - - - -
Deferred Credits/Unearned Income - - 3,213,133 3,070,665 1,118 1,279
466
(in thousand pesos)

2018 2017 2018 2017 2018 2017
NET ASSETS/EQUITY
Government Equity - - 20,043,566 19,986,382 1,044,028 907,069

Revaluation Surplus - - 31,767 31,767 - -
Retained Earnings/(Deficit) 2,274 2,271 532,882 (1,943,865) (258,432) (265,392)
467
(in thousand pesos)
Non-GBE APECO (Region 3) LLDA

2018 2017 2018 2017 2018 2017
ASSETS
Current Assets
Financial Assets - 171,705 - - - -
Receivables 455,020 340,022 14,221 14,510 21,774 22,946
Inventories 24,807 20,362 112 93 2,195 2,079
Non-Current Assets
Investments in Associates/Affiliates 170,870 169,537 - - - -
Receivables 617,423 639,793 - - - -
Other Non-Current Assets 186,009 207,246 - - 36,211 35,352
Total Assets 26,391,952 24,295,091 1,048,788 1,028,254 828,256 865,801
LIABILITIES
Current Liabilities
Intra-Agency Payables 608 608 - - - -
Provisions 80,791 69,780 - - - -
Other Payables 79,925 65,106 70 - 45,792 44,001
Trust Liabilities 368,470 304,228 - - 126,946 88,563
Deferred Credits/Unearned Income 1,589,010 1,687,963 - - 22,202 23,854
Other Payables 7,297 10,081 - - - -
Total Non-Current Liabilities 3,010,278 3,044,126 - - 149,149 112,417
468
(in thousand pesos)

2018 2017 2018 2017 2018 2017
NET ASSETS/EQUITY

Stockholders' Equity 341,165 341,165 - - 330,315 330,315
Total Net Assets/Equity 20,589,959 18,568,495 1,023,891 1,008,084 541,233 571,306
469
(in thousand pesos)
PDA (Region 5) SCAD (Region 3) SPDA (Region 11)

2018 2017 2018 2017 2018 2017
ASSETS
Current Assets
Receivables 21,683 22,690 88 101 153 153
Inventories 6,947 4,303 43 43 1,178 901
Other Current Assets 552 527 79 49 4,948 7,015
Non-Current Assets
Investments in Associates/Affiliates - - - - 5,180 5,180
Receivables - - - - 36,819 37,717
Property, Plant and Equipment 365,497 380,595 308 229 64,090 67,150
Other Non-Current Assets 156 926 - - - -
Total Non-Current Assets 365,652 381,521 308 229 112,122 116,080
Total Assets 411,815 447,663 2,772 2,700 135,121 135,035
LIABILITIES
Current Liabilities
Financial Liabilities 2,581 70,274 257 17 17 17
Inter-Agency Payables 1,075,595 1,040,556 41 164 14,649 13,605
Intra-Agency Payables 608 608 - - - -
Trust Liabilities 672 642 - - - -
Other Payables 6 12 - - 1 1
Total Current Liabilities 1,079,462 1,112,092 298 181 14,667 13,624
Deferred Credits/Unearned Income 380 723 - - 139 163
Other Payables - - - - 7,297 10,081
Total Non-Current Liabilities 380 723 - - 7,435 10,244
Total Liabilities 1,079,842 1,112,815 298 181 22,102 23,867
470
(in thousand pesos)

2018 2017 2018 2017 2018 2017
NET ASSETS/EQUITY
Government Equity (668,027) (665,152) 2,474 2,519 113,019 111,167

Total Net Assets/Equity (668,027) (665,152) 2,474 2,519 113,019 111,167
471
(in thousand pesos)
TIEZA CFI
2018 2017 2018 2017
(Restated)
ASSETS
Current Assets
Cash and Cash Equivalents 2,285,315 3,872,130 6,373 9,852
Financial Assets - 171,705 - -
Other Investments 11,608,791 7,841,358 - -
Receivables 393,734 274,529 3,367 5,094
Inventories 14,228 12,786 105 157
Non-Current Assets Held for Sale - - - -
Other Current Assets 197,281 96,382 1,409 1,766
Total Current Assets 14,499,349 12,268,888 11,253 16,869
Non-Current Assets
Financial Assets 752,242 752,242 - -
Investments in Joint Venture - - - -
Investments in Associates/Affiliates 165,690 164,357 - -
Investments in Subsidiaries - - - -
Other Investments 10,036 10,036 - -
Receivables 580,604 602,076 - -
Investment Property 335,736 343,204 - -
Property, Plant and Equipment 7,383,337 7,401,867 77,310 85,132
Intangible Assets - - - -
Deferred Tax Assets - - - -
Other Non-Current Assets 149,461 170,789 181 178
Total Non-Current Assets 9,377,106 9,444,572 77,491 85,310
Total Assets 23,876,455 21,713,460 88,744 102,179
LIABILITIES
Current Liabilities
Financial Liabilities 248,200 165,842 1,154 1,569
Inter-Agency Payables 1,061,820 992,285 326 608
Trust Liabilities - - - -
Deferred Credits/Unearned Income 108,171 103,152 - -
Provisions 78,724 68,269 2,067 1,511
Other Payables 34,056 21,091 - -
Total Current Liabilities 1,530,970 1,350,639 3,547 3,688
Financial Liabilities 189,365 200,454 - -
Inter-Agency Payables 856,136 841,401 - -
Trust Liabilities 239,976 214,117 1,547 1,547
Deferred Credits/Unearned Income 1,566,289 1,663,223 - -
Provisions - - - -
Deferred Tax Liabilities - - - -
Other Payables - - - -
Total Non-Current Liabilities 2,851,766 2,919,195 1,547 1,547
Total Liabilities 4,382,736 4,269,834 5,095 5,235
472
(in thousand pesos)
TIEZA CFI
2018 2017 2018 2017
(Restated)
NET ASSETS/EQUITY
Government Equity 19,482,868 17,432,776 83,650 96,944

Revaluation Surplus - - - -
Retained Earnings/(Deficit) - - - -
Stockholders' Equity 10,850 10,850 - -
Cumulative Changes in Fair Value - - - -
Total Net Assets/Equity 19,493,719 17,443,627 83,650 96,944
Total Liabilities and Net Assets/Equity 23,876,455 21,713,460 88,744 102,179
473
(in thousand pesos)
TOTAL GBE FTI

2018 2017 2018 2017 2018 2017
ASSETS
Current Assets
Cash and Cash Equivalents 17,740,077 22,327,578 5,119,526 6,092,981 567,804 1,426,794
Financial Assets 1,534,667 1,502,888 1,325,871 1,469,868 81,706 55,000
Other Investments 654,712 7,780,658 50,000 - - -
Receivables 344,132,249 346,161,789 2,661,745 1,692,122 566,402 570,027
Inventories 4,174,099 4,216,682 27,665 25,033 735 734
Non-Current Assets
Financial Assets 2,436,636 1,373,005 2,435,678 1,371,931 506,341 511,686
Receivables 635,439 594,261 585,605 521,159 - -
Investment Property 425,384 431,677 318,187 327,165 241,108 247,541
Biological Assets 657,972 658,227 - - - -
Deferred Tax Assets - 1,002 - 1,002 - -
Other Non-Current Assets 2,102,735 2,112,145 268,667 267,325 - -
Total Assets 734,806,137 705,721,824 21,383,479 20,245,156 7,901,142 8,750,594
LIABILITIES
Current Liabilities
Intra-Agency Payables 300,534,453 301,118,526 - - - -
Trust Liabilities 2,725,163 2,308,440 418,731 392,992 91,620 95,326
Provisions 408,365 216,017 91,443 56,255 4,486 5,161
Other Payables 3,875,663 3,914,431 338,248 1,210,995 65,436 963,821
Total Current Liabilities 524,468,889 511,472,190 7,354,249 6,695,029 215,078 1,111,745
Financial Liabilities 59,228,050 71,832,307 47,913 113,308 - -
Deferred Credits/Unearned Income 24,662,513 23,466,959 169,308 144,807 31,982 49,949
Provisions 712,141 683,029 307,566 308,146 - -
Other Payables 22,747 23,484 1,325 1,130 - -
Total Liabilities 609,427,340 607,672,246 8,201,392 7,447,349 247,060 1,161,694
NET ASSETS/EQUITY

Revaluation Surplus 6,014,268 6,148,678 5,994,413 6,128,823 5,984,408 5,984,408
Retained Earnings/(Deficit) 610,152 123,337 610,152 123,337 1,169,674 1,104,492
Cumulative Changes in Fair Value 1,784 (1,537) 1,784 (1,537) - -
474
(in thousand pesos)
HSDC NRDC PMDC

2018 2017 2018 2017 2018 2017
ASSETS
Current Assets
Financial Assets - - - - 50,421 -
Receivables 11,030 10,509 118,754 132,482 9,300 13,186
Inventories 317 296 73 476 3,614 3,805
Non-Current Assets
Receivables 31,829 86,586 - - - -
Intangible Assets - - 156 183 1,387 884
Deferred Tax Assets - - - - - 1,002
Total Non-Current Assets 215,924 272,828 294,828 297,424 148,633 273,388
Total Assets 648,804 620,957 475,831 486,481 492,654 416,452
LIABILITIES
Current Liabilities
Trust Liabilities 118 118 176,842 156,603 5,818 5,818
Provisions - - 687 1,267 - -
Other Payables - - 1,325 1,130 - -
NET ASSETS/EQUITY
Government Equity 1,970,125 1,970,125 159,190 159,190 - -

Retained Earnings/(Deficit) (1,363,267) (1,391,604) (59,342) (46,801) 66,758 1,557
Stockholders' Equity - - - - 125,000 125,000
Total Net Assets/Equity 606,858 578,521 99,847 112,388 201,763 270,972
475
(in thousand pesos)
PCIC PFDA PHILSUCOR

2018 2017 2018 2017 2018 2017
ASSETS
Current Assets
Financial Assets 659,636 881,464 - - 534,108 533,404
Other Investments 50,000 - - - - -
Receivables 1,257,858 168,288 216,031 196,053 482,370 601,576
Inventories 7,626 4,557 14,979 14,607 321 558
Other Current Assets 3,305 2,653 108,692 51,797 561 589
Non-Current Assets
Financial Assets 1,876,881 807,788 - - 30,000 30,000
Other Investments 202,142 2,142 267 267 - -
Receivables 471,577 328,968 - - 82,199 105,605
Investment Property - - 70,013 71,788 7,067 7,835
Other Non-Current Assets 944 576 13,277 13,045 - -
Total Assets 7,148,010 5,264,113 3,414,524 3,412,628 1,302,515 1,293,932
LIABILITIES
Current Liabilities
Financial Liabilities 1,446,637 997,548 709,549 720,435 694 611
Inter-Agency Payables 19,991 25,708 963,602 1,134,157 5,420 12,389
Trust Liabilities 11,312 366 132,920 134,661 102 102
Deferred Credits/Unearned Income 2,860,056 1,873,394 51,940 42,705 - -
Provisions 74,587 46,312 - - 12,370 4,783
Other Payables 232,580 207,398 12,570 12,115 27,661 27,661
Provisions 306,879 306,879 - - - -
Total Non-Current Liabilities 683,520 483,301 - - - -
NET ASSETS/EQUITY

Cumulative Changes in Fair Value - - - - 1,784 (1,537)
476
(in thousand pesos)
Non-GBE NDA NFA

2018 2017 2018 2017 2018 2017
ASSETS
Current Assets
Cash and Cash Equivalents 12,620,552 16,234,597 613,022 370,914 983,645 1,085,215
Other Investments 604,712 7,780,658 - - 604,630 7,780,576
Receivables 341,470,504 344,469,666 726,897 722,690 304,410,470 304,782,082
Inventories 4,146,434 4,191,648 4,537 5,522 3,729,890 3,889,642
Other Current Assets 6,223,728 4,483,190 224 553 241,864 161,832
Non-Current Assets
Other Investments 73,291,617 69,934,507 61,457 62,180 516,826 516,827
Receivables 49,834 73,102 - - - -
Biological Assets 657,972 658,227 100,655 101,209 - -
Intangible Assets 2,875 3,111 - - 1,931 1,931
Other Non-Current Assets 1,834,067 1,844,821 8,152 34,561 1,299,089 1,289,284
Total Assets 713,422,658 685,476,668 1,601,277 1,384,768 313,857,644 321,658,260
LIABILITIES
Current Liabilities
Financial Liabilities 81,735,567 75,498,189 86,580 131,765 62,223,623 63,558,101
Inter-Agency Payables 128,571,296 123,306,327 34,766 47,670 47,862,189 42,361,289
Intra-Agency Payables 300,534,453 301,118,526 - - 300,174,797 300,466,751
Trust Liabilities 2,306,433 1,915,448 - - 673,818 976,678
Provisions 316,922 159,762 8,790 - - -
Other Payables 3,537,415 2,703,436 7,676 11,133 - -
Total Current Liabilities 517,114,640 504,777,161 137,812 190,568 410,934,427 407,362,819
Financial Liabilities 59,180,137 71,718,999 - - 51,095,067 62,653,929
Trust Liabilities 3,407 729 - - - -
Deferred Credits/Unearned Income 24,493,206 23,322,152 3,090 3,821 192,052 193,392
Provisions 404,575 374,882 - - - -
Other Payables 21,422 22,354 - - - -
Total Non-Current Liabilities 84,111,307 95,447,736 3,090 3,821 51,287,119 62,847,321
NET ASSETS/EQUITY
Government Equity 112,176,856 85,231,915 1,460,375 1,190,379 (148,363,902) (148,551,880)

Total Net Assets/Equity 112,196,711 85,251,770 1,460,375 1,190,379 (148,363,902) (148,551,880)
477
(in thousand pesos)
NIA NTA PCA

2018 2017 2018 2017 2018 2017
ASSETS
Current Assets
Receivables 33,444,847 36,483,170 77,469 68,200 447,315 641,583
Inventories 117,195 111,516 29,810 14,869 156,499 68,345
Non-Current Assets
Financial Assets 2 2 1 1 - -
Other Investments 72,699,123 69,342,412 14,122 13,000 89 89
Receivables - - - - 4,840 3,394
Biological Assets - - - - 553,940 553,641
Total Assets 386,318,888 351,618,080 574,415 563,849 2,500,291 2,811,663
LIABILITIES
Current Liabilities
Intra-Agency Payables 239,447 558,032 490 5,843 3,854 -
Trust Liabilities 1,179,351 905,728 0 187 8,943 10,931
Provisions 308,131 159,762 - - - -
Other Payables 2,785,810 2,081,685 44,774 33,026 61,316 52,737
Financial Liabilities 7,606,341 8,581,341 78,729 78,729 - -
Deferred Credits/Unearned Income 24,276,353 23,103,166 41 109 21,548 21,543
Provisions - - - - 314,250 291,385
NET ASSETS/EQUITY
Government Equity 257,628,507 231,000,276 385,675 384,181 1,265,463 1,648,480

478
(in thousand pesos)
PRRI (Region 3) QUEDANCOR SRA

2018 2017 2018 2017 2018 2017
(Restated)
ASSETS
Current Assets
Cash and Cash Equivalents 1,390,105 1,221,501 717,934 941,101 1,916,015 1,806,320
Financial Assets - - 174,998 - 33,799 33,019
Other Investments - - - - 82 82
Receivables 297,598 247,355 983,696 1,174,212 1,082,213 350,376
Inventories 100,754 94,442 5,321 5,833 2,427 1,480
Non-Current Assets
Financial Assets - - 956 1,072 - -
Receivables - - 40,943 65,177 4,051 4,530
Investment Property - - - - 48,923 45,227
Property, Plant and Equipment 1,030,512 820,770 47,054 48,527 213,936 185,312
Biological Assets 3,377 3,377 - - - -
Intangible Assets - - - - 944 1,180
Other Non-Current Assets - - 351,069 326,999 977 1,018
Total Non-Current Assets 1,033,890 824,147 440,021 441,776 268,832 237,268
Total Assets 2,935,632 2,416,328 2,324,650 2,565,817 3,309,860 2,457,902
LIABILITIES
Current Liabilities
Deferred Credits/Unearned Income 10,337 11,406 102,218 64,069 - -
Other Payables 335,691 368,667 135,984 153,691 166,165 2,498
Financial Liabilities - - 400,000 405,000 - -
Inter-Agency Payables - - - - 8,560 8,620
Trust Liabilities - - - - 3,407 729
Deferred Credits/Unearned Income - - - - 122 122
Provisions - - - - 90,324 83,498
Other Payables - - - - 21,422 22,354
Total Non-Current Liabilities - - 400,000 405,000 123,836 115,323
NET ASSETS/EQUITY
Government Equity 1,532,113 1,209,718 (4,188,741) (3,935,079) 2,457,367 2,285,839

Total Net Assets/Equity 1,532,113 1,209,718 (4,188,741) (3,935,079) 2,457,367 2,285,839
479
(in thousand pesos)
TOTAL GBE IBC 13

PARTICULARS 2018 2017 2018 2017 2018 2017
ASSETS
Current Assets
Financial Assets 1,866,503 1,159,832 607,814 - - -
Receivables 32,277,880 24,060,715 29,355,662 21,019,977 102,472 98,528
Inventories 1,486,849 1,203,029 854,116 605,760 - -
Other Current Assets 1,472,329 951,216 937,878 482,583 239 507
Non-Current Assets
Investments in Joint Venture 151,816 276,816 151,816 276,816 151,816 276,816
Other Investments 1,004,274 915,644 982,377 889,597 - -
Receivables 412,925 416,125 66,924 67,440 - -
Total Assets 373,088,213 296,477,007 323,886,251 251,145,999 371,685 500,556
LIABILITIES
Current Liabilities
Provisions 24,168 20,599 7,064 3,953 - -
Other Payables 20,290,311 7,760,038 19,942,823 7,441,323 - -
Inter-Agency Payables 347,840 77,665 39,617 36,583 - -
Provisions 27,329,380 26,014,366 27,259,825 25,953,419 1,032,261 976,449
Deferred Tax Liabilities 208,309 1,550 207,172 439 - -
Other Payables 1,354,229 1,673,522 1,304,653 1,620,380 - -
NET ASSETS/EQUITY
Government Equity 40,819,532 38,639,913 134,648 134,648 - -

Revaluation Surplus 427,240 427,240 422,186 422,186 422,186 422,186
Retained Earnings/(Deficit) 137,499,017 111,608,072 137,499,017 111,608,072 (1,715,287) (1,533,215)
Stockholders' Equity 338,000 338,000 338,000 338,000 500 500
Cumulative Changes in Fair Value (87,680) (27,789) (87,680) (27,789) - -
Total Net Assets/Equity 178,996,109 150,985,437 138,306,170 112,475,117 (1,292,601) (1,110,529)
480
(in thousand pesos)
PAGCOR PCSO PHIC

PARTICULARS 2018 2017 2018 2017 2018 2017
ASSETS
Current Assets
Other Investments - - 1,606,912 3,188,622 1,000,000 -
Receivables 6,557,623 3,755,722 2,177,751 1,279,905 20,193,479 15,739,708
Inventories 578,473 481,218 162,536 36,745 110,875 81,548
Other Current Assets 96,772 277,973 654,049 29,224 780 892
Non-Current Assets
Financial Assets 100,000 100,000 2,802,513 2,804,680 124,876,190 102,077,729
Receivables 52,076 52,076 - - - -
Investment Property 8,816,602 15,685,904 280,701 281,032 - -
Deferred Tax Assets 203,523 95,127 5,584 - - -
Total Assets 75,713,187 38,559,161 22,936,408 22,523,278 174,861,109 154,605,300
LIABILITIES
Current Liabilities
Provisions - - 4,837 1,676 - -
Other Payables 17,937,382 6,319,478 1,977,138 893,376 6,655 9,775
Deferred Credits/Unearned Income 716,765 347,698 26,517 28,894 1,095,547 1,078,115
Provisions - - 171,537 162,352 26,034,924 24,796,039
Other Payables 1,304,653 1,620,380 - - - -
NET ASSETS/EQUITY

Retained Earnings/(Deficit) 31,809,690 16,489,851 8,323,820 10,103,514 97,143,998 85,528,073
Cumulative Changes in Fair Value - - (90,580) (27,789) - -
481
(in thousand pesos)
PITC PPPI PRA

PARTICULARS 2018 2017 2018 2017 2018 2017
ASSETS
Current Assets
Financial Assets 607,814 - - - - -
Other Investments - - - - 1,504,521 1,246,720
Receivables 157,085 30,338 24,524 27,350 142,728 88,425
Inventories - - 160 5,830 2,071 419
Non-Current Assets
Financial Assets - - - - 3,500 600
Other Investments 689 689 - - 552,983 479,808
Receivables 7,217 7,217 - - 7,632 8,148
Intangible Assets - - - - 3,806 -
Deferred Tax Assets 40,673 40,183 12,027 11,936 340,375 92,644
Other Non-Current Assets 34,591 34,985 161 60 15,517,159 12,496,224
Total Assets 31,676,163 20,194,699 117,074 199,571 18,210,625 14,563,434
LIABILITIES
Current Liabilities
Intra-Agency Payables - - - - 9 9
Trust Liabilities 30,737,415 19,774,803 45,024 110,873 - -
Provisions - - 2,227 2,277 - -
Other Payables 18,790 6,617 2,431 2,765 428 209,313
Financial Liabilities - - 74,969 120,785 - -
Inter-Agency Payables - - 39,617 36,583 - -
Trust Liabilities - - - 5,925 15,670,322 12,541,129
Provisions 14,599 12,964 - - 6,505 5,615
Deferred Tax Liabilities 582 220 68 69 206,521 151
Total Non-Current Liabilities 15,181 13,184 114,655 163,362 16,191,098 12,802,465
NET ASSETS/EQUITY
Government Equity - - - - 63,217 63,217

Cumulative Changes in Fair Value - - - - 2,900 -
Total Net Assets/Equity 868,198 371,800 (422,021) (385,359) 1,894,236 1,434,126
482
(in thousand pesos)
Non-GBE BSoP CCP

PARTICULARS 2018 2017 2018 2017 2018 2017
ASSETS
Current Assets
Financial Assets 1,258,690 1,159,832 9,248 11,208 428,685 363,536
Other Investments 396,174 421,466 - - 31,041 29,073
Receivables 2,922,219 3,040,738 137,847 129,711 814,605 862,747
Inventories 632,733 597,269 13,475 12,178 2,484 2,364
Non-Current Assets
Other Investments 21,898 26,047 - - 21,588 25,200
Receivables 346,001 348,685 - - - -
Intangible Assets 94,096 57,592 69 69 - -
Other Non-Current Assets 501,878 455,145 - - 78 78
Total Assets 49,201,963 45,331,008 5,069,448 5,078,974 2,791,492 2,681,642
LIABILITIES
Current Liabilities
Intra-Agency Payables 94,015 193,885 37,520 75 - -
Trust Liabilities 1,510,446 828,800 - - 155,261 139,175
Provisions 17,104 16,646 17,104 16,646 - -
Other Payables 347,487 318,715 - - 3,536 2,488
Provisions 69,555 60,947 - - - -
Other Payables 49,577 53,142 36,239 41,527 - -
Total Non-Current Liabilities 1,189,429 864,100 55,688 59,534 - -
NET ASSETS/EQUITY

483
(in thousand pesos)
CITEM DAP LCP

PARTICULARS 2018 2017 2018 2017 2018 2017
ASSETS
Current Assets
Receivables 11,974 21,195 125,755 132,303 284,964 245,621
Inventories 694 1,233 3,899 4,434 68,573 69,304
Non-Current Assets
Receivables 1,209 1,209 106,351 78,816 - -
Property, Plant and Equipment 28,869 39,246 171,490 210,570 4,593,996 4,510,186
Intangible Assets - - 130 130 - -
Other Non-Current Assets 298,972 296,724 400 400 - -
Total Assets 669,894 570,434 1,310,743 1,071,190 5,240,157 5,119,147
LIABILITIES
Current Liabilities
Other Payables 657 623 9,306 7,518 250,431 222,080
Inter-Agency Payables - - 288,484 - - -
Trust Liabilities 1,275 979 21,100 24,894 - -
Provisions - - 69,555 60,947 - -
Other Payables 4,974 5,270 1,768 1,676 - -
NET ASSETS/EQUITY
Government Equity 557,832 462,028 465,352 395,530 4,565,031 4,542,999

484
(in thousand pesos)
NKTI PCED PCMC

PARTICULARS 2018 2017 2018 2017 2018 2017
ASSETS
Current Assets
Receivables 292,958 433,558 27,838 20,295 475,292 598,120
Inventories 207,161 181,455 470 438 103,952 112,069
Other Current Assets 9,492 6,168 - - 2,729 2,702
Total Current Assets 4,938,327 3,618,956 84,167 72,906 1,419,125 969,981
Non-Current Assets
Intangible Assets - - 47 73 - -
Other Non-Current Assets 37,941 15,655 222 - 98,976 94,258
Total Assets 8,529,382 7,028,529 208,742 201,317 3,875,714 3,207,952
LIABILITIES
Current Liabilities
Financial Liabilities 1,126,177 970,123 2,330 3,509 731,886 658,466
Inter-Agency Payables 14,507 28,878 1,419 43 550,753 12,270
Other Payables - - 12 12 82,472 85,655
Total Current Liabilities 2,040,276 1,445,360 3,761 3,564 1,455,434 991,385
Total Liabilities 2,040,276 1,445,360 3,761 3,564 1,455,434 991,385
NET ASSETS/EQUITY

485
(in thousand pesos)
PHC PIDS PITAHC

PARTICULARS 2018 2017 2018 2017 2018 2017
ASSETS
Current Assets
Receivables 562,137 390,627 20,208 41,725 5,760 20,658
Inventories 212,891 191,958 376 574 12,948 17,227
Other Current Assets 15,673 220 20,802 10,941 3,712 10,509
Non-Current Assets
Other Investments 281 281 - - - -
Receivables 115,915 107,516 - - - -
Total Assets 5,980,405 5,268,906 774,134 763,841 355,854 361,262
LIABILITIES
Current Liabilities
Financial Liabilities 1,055,629 925,382 4,908 974 59,153 41,174
Trust Liabilities 212,853 117,428 2,441 451 1,943 1,217
Deferred Credits/Unearned Income - 749 8,802 - 96 1,276
Other Payables - - 277 149 216 190
Deferred Credits/Unearned Income - - 6 1,621 - -
Other Payables - - 1,310 1,161 - -
Total Non-Current Liabilities 487,301 404,929 9,445 11,695 - -
NET ASSETS/EQUITY
Government Equity 4,178,910 3,726,351 714,276 712,824 291,088 313,163

Total Net Assets/Equity 4,178,910 3,726,351 714,276 712,824 291,088 313,163
Total Liabilities and Net Assets/Equity 5,980,405 5,268,906 774,134 763,841 355,854 361,262
486
(in thousand pesos)
PTNI TPB VFP

PARTICULARS 2018 2017 2018 2017 2018 2017
ASSETS
Current Assets
Receivables 71,566 82,752 - - 91,313 61,427
Inventories 2,976 3,189 - - 2,833 847
Other Current Assets 392,678 377,549 - - 2,847 1,686
Non-Current Assets
Other Investments - - - - - 538
Receivables 122,527 161,144 - - - -
Property, Plant and Equipment 1,858,673 1,615,987 - - 9,095 8,662
Intangible Assets 6,301 - - - - -
Other Non-Current Assets 1,601 1,374 2,099 - 997 997
Total Non-Current Assets 1,989,102 1,778,506 2,099 - 10,168,683 10,169,187
Total Assets 2,653,020 2,543,557 618,536 505,939 11,124,442 10,928,319
LIABILITIES
Current Liabilities
Financial Liabilities 70,710 94,363 - - 12,437 8,823
Trust Liabilities 5,114 220 34,514 33,657 - -
Deferred Credits/Unearned Income 4,533 6,464 - - 586 586
Other Payables - - 581 - - -
Inter-Agency Payables - 15,000 - - - -
Other Payables 5,286 3,509 - - - -
Total Non-Current Liabilities 137,715 157,154 - - 34,771 31,055
NET ASSETS/EQUITY

487
STATEMENT OF
COMPREHENSIVE
INCOME
Statement of Comprehensive Income
(in thousand pesos)
BSP (includes PICCI

Total GBE
accounts)
2018 2017 2018 2017 2018 2017
Income
Shares, Grants and Donations 29,331 24,291 - - - -
Gains 56,105,547 19,293,661 56,105,547 19,293,661 53,107,704 15,506,027
Other Non-Operating Income 4,215,367 14,880,593 4,215,313 14,880,501 2,005,334 13,713,547
Total Income 270,307,871 204,374,742 270,270,863 204,341,717 140,569,273 93,678,044
Expenses
Maintenance and Other Operating Expenses 45,851,861 36,369,264 45,773,765 36,322,244 20,270,266 15,289,551
Direct Costs 670,528 664,835 670,528 664,835 - -
Total Expenses 185,346,428 151,444,785 185,195,302 151,347,543 85,370,217 69,000,935
Profit/(Loss) Before Tax 84,961,443 52,929,957 85,075,561 52,994,174 55,199,056 24,677,109

Income Tax Expense 17,120,535 2,978,337 17,120,535 2,978,337 15,353,831 1,140,562
Profit/(Loss) After Tax 67,840,908 49,951,620 67,955,027 50,015,837 39,845,224 23,536,547
Net Assistance/Subsidy 67,971 47,574 - - - -
Net Income/(Loss)/Surplus(Deficit) 67,908,879 49,999,194 67,955,027 50,015,837 39,845,224 23,536,547
(Loss) for the Period 5,037,647 3,484,483 5,037,647 3,484,483 (483,685) 1,170,971
488
(in thousand pesos)
DBP AAIIBP DBPLC
2018 2017 2018 2017 2018 2017
Income
Service and Business Income 25,263,032 22,122,743 34,333 26,425 178,263 181,721
Shares, Grants and Donations - - - - - -
Gains 696,146 597,171 - - - 304
Other Non-Operating Income 97,381 73,124 161 683 1,449 3,698
Total Income 26,056,559 22,793,038 34,493 27,108 179,712 185,723
Expenses
Personnel Services 3,963,333 3,143,373 55,206 45,968 23,850 21,476
Maintenance and Other Operating Expenses 5,161,321 4,444,500 48,672 35,190 26,797 19,237
Financial Expenses 8,820,805 7,433,998 1,027 780 55,069 47,641
Direct Costs - - - - - -
Non-Cash Expenses 900,459 878,833 6,730 4,264 104,169 10,245
Total Expenses 18,845,918 15,900,704 111,635 86,203 209,885 98,599
Profit/(Loss) Before Tax 7,210,641 6,892,334 (77,141) (59,096) (30,173) 87,125

Income Tax Expense 1,487,991 1,403,030 - - 21,517 22,392
Profit/(Loss) After Tax 5,722,650 5,489,304 (77,141) (59,096) (51,690) 64,733
Net Assistance/Subsidy - - - - - -
Net Income/(Loss)/Surplus(Deficit) 5,722,650 5,489,304 (77,141) (59,096) (51,690) 64,733
(Loss) for the Period (1,160,404) 460,838 - - - -
Comprehensive Income/(Loss) 4,562,246 5,950,142 (77,141) (59,096) (51,690) 64,733
489
(in thousand pesos)
DBPMC DCI LBP
2018 2017 2018 2017 2018 2017

(Restated)
Income
Service and Business Income 981 1,281 125,016 147,700 63,104,026 51,236,665
Gains - - - - 2,273,419 2,424,423
Other Non-Operating Income 0 - - - 1,783,985 434,819
Total Income 981 1,281 125,016 147,700 67,161,430 54,095,908
Expenses
Personnel Services - - 42,592 51,216 13,367,317 11,271,951
Maintenance and Other Operating Expenses 224 236 77,489 94,030 17,470,691 14,373,533
Financial Expenses - - - - 14,356,512 10,236,434
Non-Cash Expenses - - 896 728 5,215,479 2,719,152
Total Expenses 224 236 120,977 145,973 50,409,999 38,601,071
Profit/(Loss) Before Tax 758 1,046 4,039 1,726 16,751,430 15,494,837

Income Tax Expense - - 1,209 509 161,475 319,612
Profit/(Loss) After Tax 758 1,046 2,830 1,217 16,589,956 15,175,225
Net Income/(Loss)/Surplus(Deficit) 758 1,046 2,830 1,217 16,589,956 15,175,225
(Loss) for the Period (12) (31) - - 6,728,364 1,875,908
Comprehensive Income/(Loss) 745 1,015 2,830 1,217 23,318,320 17,051,133
490
(in thousand pesos)
LBRDC LIBI LLFC
2018 2017 2018 2017 2018 2017

(Restated)
Income
Service and Business Income 458,338 394,386 172,620 148,321 576,332 448,092
Gains 379 418 - 159 578 12,249
Other Non-Operating Income - - 1,434 1,392 5,483 10,974
Total Income 458,718 394,804 174,054 149,871 582,393 471,315
Expenses
Personnel Services 20,843 9,162 32,879 33,332 203,104 178,465
Maintenance and Other Operating Expenses 9,591 7,039 17,270 15,335 72,231 58,261
Financial Expenses 267 273 111 86 103,113 74,119
Direct Costs 348,508 277,907 - - - -
Total Expenses 382,620 296,059 56,075 54,026 422,617 345,800
Profit/(Loss) Before Tax 76,097 98,745 117,978 95,845 159,776 125,515

Income Tax Expense 22,110 28,875 24,402 18,826 44,570 31,440
Profit/(Loss) After Tax 53,987 69,870 93,576 77,018 115,206 94,075
Net Income/(Loss)/Surplus(Deficit) 53,987 69,870 93,576 77,018 115,206 94,075
(Loss) for the Period - - - - 1,143 (5,177)
Comprehensive Income/(Loss) 53,987 69,870 93,576 77,018 116,349 88,898
491
(in thousand pesos)
MSI NFC (Region 1) OFB
2018 2017 2018 2017 2018 2017

(Restated)
Income
Gains 380 221 669 185 14,447 1,415
Other Non-Operating Income 701 405 576 635 19,514 24,867
Total Income 198,616 333,293 199,752 152,862 468,628 528,993
Expenses
Financial Expenses 0 3 41,710 39,336 108,443 130,119
Direct Costs 161,271 264,408 160,749 122,519 - -
Total Expenses 186,709 289,462 234,374 195,722 1,209,156 639,573
Profit/(Loss) Before Tax 11,907 43,831 (34,622) (42,860) (740,528) (110,580)

Income Tax Expense 3,430 13,090 - - - -
Profit/(Loss) After Tax 8,477 30,740 (34,622) (42,860) (740,528) (110,580)
Net Income/(Loss)/Surplus(Deficit) 8,477 30,740 (34,622) (42,860) (740,528) (110,580)
(Loss) for the Period - - - - (47,758) (18,026)
Comprehensive Income/(Loss) 8,477 30,740 (34,622) (42,860) (788,287) (128,606)
492
(in thousand pesos)
PDIC Non-GBE CIC
2018 2017 2018 2017 2018 2017

(Restated)
Income
Shares, Grants and Donations - - 29,331 24,291 - 462
Gains 11,825 751,088 - - - -
Other Non-Operating Income 299,296 616,357 55 92 55 92
Total Income 34,061,238 31,381,778 37,008 33,025 5,436 7,484
Expenses
Financial Expenses 3,766,085 3,559,897 2 3 - 0
Non-Cash Expenses 20,494,378 19,376,328 30,691 23,986 30,493 23,855
Total Expenses 27,634,896 25,693,180 151,127 97,242 115,072 71,226
Profit/(Loss) Before Tax 6,426,343 5,688,598 (114,119) (64,217) (109,636) (63,742)

Income Tax Expense - - - - - -
Profit/(Loss) After Tax 6,426,343 5,688,598 (114,119) (64,217) (109,636) (63,742)
Net Assistance/Subsidy - - 67,971 47,574 67,971 47,574
Net Income/(Loss)/Surplus(Deficit) 6,426,343 5,688,598 (46,148) (16,643) (41,665) (16,168)
(Loss) for the Period - - - - - -
Comprehensive Income/(Loss) 6,426,343 5,688,598 (46,148) (16,643) (41,665) (16,168)
493
(in thousand pesos)
LCDFI
2018 2017
Income
Service and Business Income 2,241 1,711
Shares, Grants and Donations 29,331 23,829
Gains - -
Other Non-Operating Income - -
Total Income 31,572 25,541
Expenses
Personnel Services 14,341 7,691
Maintenance and Other Operating Expenses 21,514 18,191
Financial Expenses 2 3
Direct Costs - -
Non-Cash Expenses 198 131
Total Expenses 36,055 26,016
Profit/(Loss) Before Tax (4,483) (475)

Income Tax Expense - -
Profit/(Loss) After Tax (4,483) (475)
Net Assistance/Subsidy - -
Net Income/(Loss)/Surplus(Deficit) (4,483) (475)
(Loss) for the Period - -
Comprehensive Income/(Loss) (4,483) (475)
494
Cluster 2 - Social Security Services and Housing Center
For the year Ended December 31, 2018
(in thousand pesos)
Total GBE AFPRSBS
2018 2017 2018 2017 2018 2017

Income
Shares, Grants and Donations 200,515 - - - - -
Gains 177,471,516 134,928,195 177,471,516 134,928,042 1,134 12,458
Other Non-Operating Income 12,858,667 5,371,164 12,836,375 5,336,436 2,351 2,871
Total Income 633,353,069 539,363,815 631,668,752 537,981,208 7,222,682 1,150,442
Expenses
Personnel Services 18,105,734 16,059,387 17,041,304 15,250,429 101,353 83,503
Maintenance and Other Operating Expenses 300,424,067 279,387,164 299,693,241 278,682,333 29,953 27,449
Financial Expenses 1,048,040 1,023,336 1,047,956 1,013,050 8,565 4,704
Direct Costs 1,390,771 160,652 1,390,771 160,652 1,375,521 145,895
Non-Cash Expenses 183,904,614 95,128,180 183,805,409 95,042,436 3,253 4,145
Total Expenses 504,873,226 391,758,719 502,978,680 390,148,900 1,518,645 265,696
Profit/(Loss) Before Tax 128,479,843 147,605,097 128,690,073 147,832,308 5,704,037 884,745

Income Tax Expense 970,059 219,970 970,059 219,970 - -
Profit/(Loss) After Tax 127,509,784 147,385,127 127,720,014 147,612,338 5,704,037 884,745
Net Assistance/Subsidy 993,367 22,105,950 2,029,223 3,628,221 - -
Net Income/(Loss) 128,503,151 169,491,077 129,749,237 151,240,559 5,704,037 884,745
(Loss) for the Period (59,428,833) 3,432,448 (59,428,833) 3,432,448 (7,343) (9,462)
Comprehensive Income/(Loss) 69,074,319 172,923,525 70,320,404 154,673,007 5,696,693 875,283
495
(in thousand pesos)
SUMSI GSIS HDMF
2018 2017 2018 2017 2018 2017

Income
Service and Business Income 33,096 33,236 178,454,962 162,568,354 41,881,293 44,437,910
Gains - - 163,298,904 111,864,659 5,796,936 6,283,347
Other Non-Operating Income 676 543 6,496,037 1,011,518 5,144,061 3,298,258
Total Income 33,772 33,778 348,249,903 275,444,530 52,822,290 54,019,515
Expenses
Personnel Services 4,901 5,793 5,069,351 3,745,506 4,454,793 4,312,185
Maintenance and Other Operating Expenses 3,450 4,084 109,425,347 98,710,112 6,272,293 5,319,724
Financial Expenses - - 103,287 123,143 43,141 44,810
Direct Costs 15,250 14,756 - - - -
Non-Cash Expenses 239 239 169,627,166 77,817,772 8,878,601 14,070,837
Total Expenses 23,839 24,872 284,225,151 180,396,533 19,648,828 23,747,557
Profit/(Loss) Before Tax 9,933 8,906 64,024,752 95,047,998 33,173,462 30,271,958

Profit/(Loss) After Tax 7,128 6,305 64,024,752 95,047,998 33,173,462 30,271,958
Net Assistance/Subsidy - - (76,065) (80,752) (1,481) (3,845)
Net Income/(Loss) 7,128 6,305 63,948,687 94,967,246 33,171,981 30,268,113
(Loss) for the Period - - (32,244,275) 3,701 (7,068,302) (4,034,731)
Comprehensive Income/(Loss) 7,128 6,305 31,704,411 94,970,947 26,103,679 26,233,382
496
(in thousand pesos)
HGC NHMFC SHFC
2018 2017 2018 2017 2018 2017

Income
Gains 2,019,148 20,316 28 2,100 - -
Other Non-Operating Income 163,310 12,041 13,650 173,221 - -
Total Income 4,219,297 1,669,037 779,460 974,570 717,794 688,204
Expenses
Financial Expenses 577,797 474,784 83,342 97,076 5,811 5,308
Total Expenses 1,008,329 931,068 620,476 813,420 513,574 418,863
Profit/(Loss) Before Tax 3,210,968 737,968 158,984 161,150 204,220 269,340

Profit/(Loss) After Tax 2,265,818 527,482 128,789 130,794 177,928 210,556
Net Assistance/Subsidy - - 264,168 1,000,000 590,247 1,221,670
Net Income/(Loss) 2,265,818 527,482 392,957 1,130,794 768,175 1,432,226
(Loss) for the Period - - (40,199) (7,772) - -
Comprehensive Income/(Loss) 2,265,818 527,482 352,757 1,123,022 768,175 1,432,226
497
(in thousand pesos)
PDGCC SBGFC SSS
2018 2017 2018 2017 2018 2017

(Restated)
Income
Service and Business Income 23,205 19,631 328,699 319,458 209,799,561 185,984,943
Gains - - 99,172 13,801 6,256,128 16,673,013
Other Non-Operating Income 244 183 4,478 3,814 1,008,101 833,984
Total Income 23,449 19,814 432,349 337,073 217,063,790 203,491,939
Expenses
Personnel Services 2,168 3,290 199,111 163,086 6,531,204 6,307,555
Maintenance and Other Operating Expenses 23,100 13,364 89,763 77,637 183,026,211 173,684,762
Financial Expenses - - 49,921 39,194 129,167 178,025
Non-Cash Expenses 265 267 147,392 256,713 4,897,456 2,486,502
Total Expenses 25,532 16,921 486,187 536,630 194,584,038 182,656,843
Profit/(Loss) Before Tax (2,083) 2,893 (53,838) (199,557) 22,479,752 20,835,096

Income Tax Expense - - 31,631 (25,161) - -
Profit/(Loss) After Tax (2,083) 2,893 (85,469) (174,396) 22,479,752 20,835,096
Net Assistance/Subsidy - - 1,066,996 950,072 185,358 541,076
Net Income/(Loss) (2,083) 2,893 981,527 775,676 22,665,109 21,376,172
(Loss) for the Period - - - - (20,037,126) 7,488,488
Comprehensive Income/(Loss) (2,083) 2,893 981,527 775,676 2,627,983 28,864,660
498
(in thousand pesos)
TIDCORP Non-GBE ECC
2018 2017 2018 2017 2018 2017

(Restated)
Income
Service and Business Income 100,433 93,953 1,461,509 1,347,726 45,026 37,987
Shares, Grants and Donations - - 200,515 - - -
Gains 65 58,349 - 153 - -
Other Non-Operating Income 3,468 4 22,292 34,728 236 4,639
Total Income 103,967 152,306 1,684,316 1,382,608 45,262 42,626
Expenses
Personnel Services 88,275 98,028 1,064,430 808,958 147,507 136,965
Financial Expenses 46,925 46,006 84 10,286 1 10
Total Expenses 324,080 340,496 1,894,546 1,609,819 322,017 296,210
Profit/(Loss) Before Tax (220,113) (188,190) (210,229) (227,211) (276,755) (253,585)

Income Tax Expense (66,013) (57,097) - - - -
Profit/(Loss) After Tax (154,100) (131,093) (210,229) (227,211) (276,755) (253,585)
Net Assistance/Subsidy - - (1,035,856) 18,477,729 264,715 269,173
Net Income/(Loss) (154,100) (131,093) (1,246,085) 18,250,518 (12,040) 15,588
(Loss) for the Period (31,586) (7,776) - - - -
Comprehensive Income/(Loss) (185,685) (138,869) (1,246,085) 18,250,518 (12,040) 15,588
499
(in thousand pesos)
NHA
2018 2017
Income
Service and Business Income 1,416,483 1,309,739
Shares, Grants and Donations 200,515 -
Gains - 153
Other Non-Operating Income 22,056 30,089
Total Income 1,639,054 1,339,982
Expenses
Personnel Services 916,923 671,993
Maintenance and Other Operating Expenses 580,666 562,176
Financial Expenses 83 10,276
Direct Costs - -
Non-Cash Expenses 74,856 69,164
Total Expenses 1,572,528 1,313,609
Profit/(Loss) Before Tax 66,526 26,373

Income Tax Expense - -
Profit/(Loss) After Tax 66,526 26,373
Net Assistance/Subsidy (1,300,571) 18,208,556
Net Income/(Loss) (1,234,045) 18,234,929
(Loss) for the Period - -
Comprehensive Income/(Loss) (1,234,045) 18,234,929
500
(in thousand pesos)
Total GBE APO
2018 2017 2018 2017 2018 2017

Income
Service and Business Income 153,617,900 140,835,412 56,298,222 51,502,594 1,063,719 868,189
Shares, Grants and Donations 30,311,644 19,812,135 300,821 44,919 - -
Gains 9,473,046 1,361,692 220,719 27,195 - -
Other Non-Operating Income 1,498,559 934,606 327,563 283,269 2,239 2,239
Total Income 194,901,150 162,943,845 57,147,325 51,857,977 1,065,958 870,428
Expenses
Financial Expenses 24,725,966 23,958,785 1,186,749 1,224,105 1,197 361
Direct Costs 8,770,258 6,649,367 3,656,436 2,963,845 664,157 606,973
Total Expenses 176,176,051 144,437,055 39,243,184 36,591,142 790,938 719,451
Profit/(Loss) Before Tax 18,725,099 18,506,790 17,904,141 15,266,835 275,020 150,977

Profit/(Loss) After Tax 12,570,666 13,692,285 13,666,096 11,834,374 223,364 143,570
Net Assistance/Subsidy (7,705,450) (931,435) 65,558 (10,525) - -
Net Income/(Loss) 4,865,216 12,760,850 13,731,654 11,823,849 223,364 143,570
(Loss) for the Period 35,331 (11,229) 35,331 (11,229) - -
Comprehensive Income/(Loss) 4,900,547 12,749,621 13,766,986 11,812,620 223,364 143,570
501
(in thousand pesos)
2018 2017 2018 2017 2018 2017
Income
Service and Business Income 1,837,736 1,601,556 1,168,179 570,705 133,696 109,801
Gains - - 1,763 0 253 -
Other Non-Operating Income 593 76 840 1,023 105 355
Total Income 1,838,329 1,601,632 1,170,783 571,727 134,054 110,156
Expenses
Personnel Services 124,430 139,639 104,347 91,973 - 17
Financial Expenses 43 41 9,305 2,025 431 384
Direct Costs - - 106,321 - 50,497 45,245
Non-Cash Expenses 111,540 98,309 39,338 41,276 4,519 281
Total Expenses 667,751 621,825 400,009 257,172 56,713 47,303
Profit/(Loss) Before Tax 1,170,579 979,807 770,774 314,556 77,341 62,853

Profit/(Loss) After Tax 818,187 685,451 615,671 289,232 59,831 48,039
Net Income/(Loss) 818,187 685,451 615,671 289,232 59,831 48,039
(Loss) for the Period - - (2,350) 140 - -
502
(in thousand pesos)
2018 2017 2018 2017 2018 2017

(Restated)
Income
Gains - - 197,029 5,201 - -
Other Non-Operating Income 3,255 - 8,252 2,761 2,943 1,666
Total Income 60,407 57,229 5,386,983 4,380,310 35,594 36,708
Expenses
Personnel Services - 333 216,895 189,525 50,836 45,962
Financial Expenses 150 253 972 2,098 93 148
Direct Costs 4 493 2,429,204 1,925,224 10,109 7,944
Non-Cash Expenses 71 14,125 41,621 60,453 1,901 2,494
Total Expenses 2,655 18,083 2,840,264 2,364,146 89,161 84,777
Profit/(Loss) Before Tax 57,752 39,147 2,546,719 2,016,164 (53,566) (48,069)

Income Tax Expense 11,176 7,174 1,178,645 906,426 192 124
Profit/(Loss) After Tax 46,575 31,973 1,368,074 1,109,738 (53,758) (48,193)
Net Income/(Loss) 46,575 31,973 1,368,074 1,109,738 (53,758) (48,193)
(Loss) for the Period - - 25,081 (14,519) - -
Comprehensive Income/(Loss) 46,575 31,973 1,393,156 1,095,219 (53,758) (48,193)
503
(in thousand pesos)
2018 2017 2018 2017 2018 2017

(Restated)
Income
Service and Business Income 31 72 17,463,041 15,328,450 3,164 3,313
Gains 237 1,969 6,860 189 6,733 15,798
Other Non-Operating Income 3,468 180 26,083 27,537 692 218
Total Income 3,736 2,220 17,495,985 15,356,176 10,589 19,330
Expenses
Personnel Services 724 1,240 1,512,572 1,333,979 6,370 3,447
Maintenance and Other Operating Expenses 40 312,245 4,560,078 3,557,497 1,392 487
Financial Expenses - 0 176,139 160,241 - -
Non-Cash Expenses 3,616 3,271 3,227,467 3,659,101 113 114
Total Expenses 4,380 316,756 9,476,256 8,710,818 7,875 4,049
Profit/(Loss) Before Tax (644) (314,535) 8,019,729 6,645,359 2,714 15,281

Income Tax Expense 154 538 2,465,898 2,171,896 - -
Profit/(Loss) After Tax (798) (315,074) 5,553,831 4,473,463 2,714 15,281
Net Income/(Loss) (798) (315,074) 5,553,831 4,473,463 2,714 15,281
(Loss) for the Period 12,600 3,150 - - - -
Comprehensive Income/(Loss) 11,802 (311,924) 5,553,831 4,473,463 2,714 15,281
504
(in thousand pesos)
2018 2017 2018 2017 2018 2017

(Restated)
Income
Shares, Grants and Donations 300,821 44,919 30,010,823 19,767,216 - -
Gains 7,844 4,038 9,252,327 1,334,498 340 20
Other Non-Operating Income 279,093 247,215 1,170,996 651,337 - -
Total Income 29,944,907 28,852,059 137,753,825 111,085,868 1,653,363 1,582,013
Expenses
Financial Expenses 998,420 1,058,555 23,539,217 22,734,680 1,960,558 1,413,238
Direct Costs 396,144 377,967 5,113,822 3,685,522 716,635 618,262
Total Expenses 24,907,184 23,446,763 136,932,867 107,845,912 6,437,676 5,108,765
Profit/(Loss) Before Tax 5,037,723 5,405,296 820,958 3,239,955 (4,784,313) (3,526,752)

Income Tax Expense 5,319 4,403 1,916,388 1,382,044 - -
Profit/(Loss) After Tax 5,032,405 5,400,893 (1,095,430) 1,857,912 (4,784,313) (3,526,752)
Net Assistance/Subsidy 65,558 (10,525) (7,771,008) (920,910) 514,788 819,389
Net Income/(Loss) 5,097,963 5,390,369 (8,866,438) 937,001 (4,269,525) (2,707,363)
Comprehensive Income/(Loss) 5,097,963 5,390,369 (8,866,438) 937,001 (4,269,525) (2,707,363)
505
(in thousand pesos)
LWUA MWSS NEA
2018 2017 2018 2017 2018 2017

(Restated)
Income
Gains 86,727 15,445 1,192 - 466 -
Total Income 563,934 521,489 2,654,638 2,473,065 717,790 708,078
Expenses
Non-Cash Expenses 249,280 291,973 1,401,098 1,093,637 25,702 36,399
Total Expenses 715,021 740,998 2,139,682 1,671,207 488,977 484,539
Profit/(Loss) Before Tax (151,087) (219,509) 514,956 801,858 228,813 223,540

Profit/(Loss) After Tax (153,158) (233,205) 508,478 795,036 158,746 152,648
Net Assistance/Subsidy 114,418 - - - (1,926,801) -
Net Income/(Loss) (38,740) (233,205) 508,478 795,036 (1,768,055) 152,648
Comprehensive Income/(Loss) (38,740) (233,205) 508,478 795,036 (1,768,055) 152,648
506
(in thousand pesos)
NPC PNR PPC
2018 2017 2018 2017 2018 2017
Income
Service and Business Income 3,046,236 3,034,696 430,684 399,778 3,687,197 3,536,712
Shares, Grants and Donations 13,598,654 8,665,834 - - - 2
Gains 1,345 451 3,254 3,599 13,155 -
Other Non-Operating Income 1,148,247 576,248 3,758 40,260 - -
Total Income 17,794,482 12,277,229 437,696 443,637 3,700,351 3,536,714
Expenses
Personnel Services 926,191 890,600 108,903 101,292 1,808,125 1,833,122
Maintenance and Other Operating Expenses 2,599,185 2,092,589 395,327 771,007 1,758,985 1,489,534
Direct Costs 4,388,500 3,057,822 - - 8,687 9,437
Non-Cash Expenses 959,430 1,091,073 273,892 425,544 88,915 103,582
Total Expenses 8,879,050 7,139,478 1,366,920 1,736,962 3,674,765 3,458,921
Profit/(Loss) Before Tax 8,915,432 5,137,751 (929,224) (1,293,325) 25,586 77,793

Income Tax Expense 425,942 520,277 - - 7,676 40,035
Profit/(Loss) After Tax 8,489,490 4,617,474 (929,224) (1,293,325) 17,910 37,758
Net Assistance/Subsidy (6,762,753) (2,405,263) 131,670 529,502 585,642 536,537
Net Income/(Loss) 1,726,737 2,212,211 (797,554) (763,823) 603,552 574,295
Comprehensive Income/(Loss) 1,726,737 2,212,211 (797,554) (763,823) 603,552 574,295
507
(in thousand pesos)
PSALM TRANSCO
2018 2017 2018 2017

(Restated)
Income
Service and Business Income 74,691,197 67,150,470 9,981,337 9,976,195
Shares, Grants and Donations 16,412,170 11,101,379 - -
Gains 9,145,328 1,313,995 519 987
Other Non-Operating Income - - 1,021 617
Total Income 100,248,695 79,565,844 9,982,876 9,977,799
Expenses
Financial Expenses 20,463,874 20,338,763 218 32
Direct Costs - - - -
Non-Cash Expenses 29,078,964 8,188,357 4,735,671 4,455,412
Total Expenses 108,173,284 82,750,990 5,057,492 4,754,053
Profit/(Loss) Before Tax (7,924,589) (3,185,146) 4,925,384 5,223,746

Income Tax Expense 1,404,155 730,323 - -
Profit/(Loss) After Tax (9,328,743) (3,915,469) 4,925,384 5,223,746
Net Assistance/Subsidy (427,972) (401,076) - -
Net Income/(Loss) (9,756,715) (4,316,544) 4,925,384 5,223,746
(Loss) for the Period - - - -
Comprehensive Income/(Loss) (9,756,715) (4,316,544) 4,925,384 5,223,746
508
(in thousand pesos)
Total GBE AFAB (Region 3)
2018 2017 2018 2017 2018 2017

Income
Tax Revenue 3,181,864 2,852,449 - - - -
Shares, Grants and Donations 198 - 198 - 198 -
Gains 28,047,293 7,081,128 28,042,928 7,081,022 4,251 1,532
Other Non-Operating Income 1,497,158 5,885,726 1,483,958 5,873,226 36 356
Total Income 80,276,647 57,794,549 76,118,094 54,009,846 1,394,640 1,239,317
Expenses
Maintenance and Other Operating Expenses 11,759,168 13,668,599 11,007,910 12,988,656 1,011,769 846,728
Financial Expenses 1,783,411 1,861,121 1,746,520 1,835,069 7,386 4,980
Direct Costs 71,316 51,377 51,447 33,619 - -
Total Expenses 34,763,270 33,562,405 33,076,491 32,022,844 1,190,566 1,025,776
Profit/(Loss) Before Tax 45,513,377 24,232,144 43,041,603 21,987,001 204,074 213,541

Profit/(Loss) After Tax 40,682,007 20,316,572 38,217,577 18,109,127 145,776 151,465
Net Assistance/Subsidy (5,911,784) (2,804,244) (5,523,299) (2,535,946) - -
Net Income/(Loss) 34,770,223 17,512,328 32,694,278 15,573,181 145,776 151,465
Other Comprehensive Income
Comprehensive Income/(Loss) 34,840,410 17,437,207 32,764,465 15,498,060 145,776 151,465
509
(in thousand pesos)
2018 2017 2018 2017 2018 2017
Income
Tax Revenue - - - - - -
Gains 21,022,704 314,180 - - 35,718 10,483
Other Non-Operating Income 1,256,534 5,620,209 - 4 1,116 29,118
Total Income 28,124,771 9,594,095 4,939 3,869 2,563,042 2,096,334
Expenses
Personnel Services 259,453 249,841 - - 505,886 481,471
Maintenance and Other Operating Expenses 1,011,111 419,412 127 1,051 365,152 327,370
Financial Expenses 452,023 415,102 - - 40 27
Non-Cash Expenses 2,259,699 3,056,242 221 300 251,946 186,715
Total Expenses 3,982,287 4,140,596 348 1,351 1,123,023 995,583
Profit/(Loss) Before Tax 24,142,485 5,453,499 4,592 2,518 1,440,019 1,100,751

Income Tax Expense (710,076) 217,282 0 1 82,894 66,032
Profit/(Loss) After Tax 24,852,561 5,236,217 4,592 2,517 1,357,125 1,034,719
Net Assistance/Subsidy (4,944,545) (4,152,696) - - (2,201) (2,115)
Net Income/(Loss) 19,908,017 1,083,521 4,592 2,517 1,354,924 1,032,603
(Loss) for the Period 62,687 - - - - -
Comprehensive Income/(Loss) 19,970,703 1,083,521 4,592 2,517 1,354,924 1,032,603
510
(in thousand pesos)
2018 2017 2018 2017 2018 2017
Income
Service and Business Income 1,028,159 788,505 109,878 84,703 24,778 45,336
Gains 12,128 3,438 891 15 62,415 3,399
Other Non-Operating Income 35,281 25,167 175 8 15 10
Total Income 1,075,569 817,110 110,944 84,726 87,208 48,745
Expenses
Financial Expenses 17,393 21,705 - - 476,918 397,556
Non-Cash Expenses 216,698 171,031 3,778 3,015 5,567,729 14,394
Total Expenses 732,467 626,404 93,377 63,852 6,095,437 461,484
Profit/(Loss) Before Tax 343,101 190,706 17,567 20,873 (6,008,228) (412,739)

Profit/(Loss) After Tax 326,598 177,175 10,512 15,253 (6,008,228) (412,739)
Net Assistance/Subsidy (7,486) - - - 450 1,814
Net Income/(Loss) 319,112 177,175 10,512 15,253 (6,007,779) (410,925)
Comprehensive Income/(Loss) 319,112 177,175 10,512 15,253 (6,007,779) (410,925)
511
(in thousand pesos)
2018 2017 2018 2017 2018 2017

Income
Gains - - 143,324 32,489 26,917 1,150
Other Non-Operating Income 1,697 918 - - 1,159 6
Total Income 87,308 64,640 9,670,600 9,159,535 734,866 234,219
Expenses
Personnel Services 38,260 21,822 2,170,235 1,925,846 42,594 47,803
Maintenance and Other Operating Expenses 24,044 25,121 2,254,336 1,956,491 123,147 82,705
Financial Expenses - - 69,477 1,171 3 -
Non-Cash Expenses 1,274 1,618 2,428,798 3,738,218 170,124 168,636
Total Expenses 63,578 48,562 6,922,845 7,621,726 335,868 299,144
Profit/(Loss) Before Tax 23,729 16,078 2,747,755 1,537,810 398,998 (64,925)

Income Tax Expense 6,903 4,544 831,370 - 109,720 -
Profit/(Loss) After Tax 16,827 11,535 1,916,385 1,537,810 289,278 (64,925)
Net Assistance/Subsidy - - 553,656 - 5,686 -
Net Income/(Loss) 16,827 11,535 2,470,041 1,537,810 294,964 (64,925)
(Loss) for the Period - - 760 - - -
Comprehensive Income/(Loss) 16,827 11,535 2,470,802 1,537,810 294,964 (64,925)
512
(in thousand pesos)
2018 2017 2018 2017 2018 2017
Income
Service and Business Income 393 407 1,501,883 1,254,561 14,622,799 13,566,929
Gains - - - - 1,782,832 -
Other Non-Operating Income - - 13,856 12 99,450 59,184
Total Income 393 407 1,515,739 1,254,573 16,505,081 13,626,113
Expenses
Personnel Services 30 - 213,512 203,501 866,454 840,668
Maintenance and Other Operating Expenses 6 - 323,731 227,494 3,986,341 7,082,844
Non-Cash Expenses - - 191,237 201,267 1,556,780 1,579,163
Total Expenses 210 212 728,492 632,266 6,602,543 9,921,520
Profit/(Loss) Before Tax 184 194 787,247 622,307 9,902,538 3,704,593

Income Tax Expense - - 228,956 180,954 1,983,039 1,710,561
Profit/(Loss) After Tax 184 194 558,291 441,353 7,919,499 1,994,032
Net Assistance/Subsidy - - - - (1,028,326) 1,705,795
Net Income/(Loss) 184 194 558,291 441,353 6,891,173 3,699,827
Comprehensive Income/(Loss) 184 194 558,291 441,353 6,891,173 3,699,827
513
(in thousand pesos)
2018 2017 2018 2017 2018 2017

(Restated)
Income
Gains - - 4,677,993 3,699,114 - -
Other Non-Operating Income - - 40,688 37,638 - -
Total Income 24,116 7,872 5,094,711 4,252,809 41,757 41,480
Expenses
Direct Costs 8,467 3,125 - - - -
Non-Cash Expenses 1,518 445 15,989 737,179 - -
Total Expenses 22,245 7,553 208,707 927,590 30,293 29,555
Profit/(Loss) Before Tax 1,871 318 4,886,004 3,325,218 11,463 11,926

Income Tax Expense - - 1,382,683 970,334 3,330 3,509
Profit/(Loss) After Tax 1,871 318 3,503,321 2,354,885 8,133 8,417
Net Income/(Loss) 1,871 318 3,503,321 2,354,885 8,133 8,417
(Loss) for the Period - - 6,701 1,438 - -
Comprehensive Income/(Loss) 1,871 318 3,510,022 2,356,323 8,133 8,417
514
(in thousand pesos)
FCIEI GYREI IIGSI
2018 2017 2018 2017 2018 2017

Income
Service and Business Income 2,972 2,991 6,272 6,403 0 0
Gains - - - - - -
Other Non-Operating Income - - - - - -
Total Income 2,972 2,991 6,272 6,403 0 0
Expenses
Personnel Services 272 242 98 68 - -
Maintenance and Other Operating Expenses 2,919 3,005 15,684 12,810 376 366
Financial Expenses 14 7 24 19 0 0
Non-Cash Expenses 715 - - - - -
Total Expenses 3,919 3,254 15,807 12,897 376 366
Profit/(Loss) Before Tax (947) (263) (9,535) (6,494) (375) (365)

Income Tax Expense 58 104 112 112 0 0
Profit/(Loss) After Tax (1,006) (367) (9,647) (6,607) (375) (365)
Net Income/(Loss) (1,006) (367) (9,647) (6,607) (375) (365)
Comprehensive Income/(Loss) (1,006) (367) (9,647) (6,607) (375) (365)
515
(in thousand pesos)
KRC MGC NPIC
2018 2017 2018 2017 2018 2017

Income
Service and Business Income 11,603 11,535 717 1,151 1,306 717
Gains - 27,140 - - - -
Other Non-Operating Income - - 40 - - -
Total Income 11,603 38,675 757 1,151 1,306 717
Expenses
Personnel Services 98 68 - - 272 231
Financial Expenses 111 118 1 0 43 -
Non-Cash Expenses - - 375 95,189 - -
Total Expenses 3,385 3,228 1,757 97,522 694 448
Profit/(Loss) Before Tax 8,218 35,447 (1,000) (96,371) 613 270

Profit/(Loss) After Tax 5,848 24,925 (1,000) (96,371) 613 270
Net Income/(Loss) 5,848 24,925 (1,000) (96,371) 613 270
Comprehensive Income/(Loss) 5,848 24,925 (1,000) (96,371) 613 270
516
(in thousand pesos)
PRC PADC PEZA
2018 2017 2018 2017 2018 2017

Income
Service and Business Income 2,263 2,271 54,932 45,721 3,278,369 3,389,869
Gains - - 114 5 12,975 -
Total Income 2,263 2,271 56,173 47,084 3,301,498 3,410,618
Expenses
Personnel Services 98 68 25,824 26,883 442,051 429,970
Maintenance and Other Operating Expenses 658 656 4,588 8,548 777,976 975,634
Direct Costs - - 2,868 123 - -
Non-Cash Expenses - - 882 907 70,347 133,305
Total Expenses 776 744 34,207 36,475 1,294,085 1,540,404
Profit/(Loss) Before Tax 1,487 1,527 21,966 10,609 2,007,413 1,870,214

Income Tax Expense 489 501 4,935 1,959 596,211 557,922
Profit/(Loss) After Tax 997 1,026 17,031 8,650 1,411,203 1,312,293
Net Income/(Loss) 997 1,026 17,031 8,650 1,411,203 1,312,293
Comprehensive Income/(Loss) 997 1,026 17,031 8,650 1,411,203 1,312,293
517
(in thousand pesos)
2018 2017 2018 2017 2018 2017

(Restated)
Income
Gains (1,033) 6,830 223 2,848,475 - -
Other Non-Operating Income 15,895 9,761 1,739 63,623 - -
Total Income 782,526 717,129 293,958 3,241,025 3,324 3,347
Expenses
Personnel Services 51,888 49,873 46,360 41,785 1,155 983
Financial Expenses 82,991 85,122 258,009 258,010 1 2
Direct Costs - - 30,688 30,372 - -
Non-Cash Expenses 127,977 135,607 7,421 6,140 - -
Total Expenses 355,376 332,814 377,728 361,682 1,364 1,176
Profit/(Loss) Before Tax 427,150 384,315 (83,770) 2,879,343 1,960 2,171

Income Tax Expense 129,099 118,923 - - 668 669
Profit/(Loss) After Tax 298,052 265,392 (83,770) 2,879,343 1,293 1,502
Net Assistance/Subsidy (150,615) (138,744) - - - -
Net Income/(Loss) 147,437 126,648 (83,770) 2,879,343 1,293 1,502
(Loss) for the Period - - 40 (76,559) - -
Comprehensive Income/(Loss) 147,437 126,648 (83,730) 2,802,784 1,293 1,502
518
(in thousand pesos)
2018 2017 2018 2017 2018 2017

(Restated)
Income
Service and Business Income 0 1 13 23 600,862 607,755
Gains - - - - 230,512 132,771
Other Non-Operating Income 154 11 583 274 4,257 4,820
Total Income 155 12 596 296 835,631 745,346
Expenses
Personnel Services - - 332 439 150,813 106,080
Maintenance and Other Operating Expenses 27 22 78 38 120,708 117,073
Financial Expenses - - - - 7,017 14,685
Direct Costs - - - - 9,424 -
Non-Cash Expenses - 523 - 18 315,574 281,965
Total Expenses 27 545 409 495 603,536 519,804
Profit/(Loss) Before Tax 128 (533) 187 (199) 232,094 225,542

Income Tax Expense - - 56 - (34,816) (146,046)
Profit/(Loss) After Tax 128 (533) 131 (199) 266,910 371,589
Net Income/(Loss) 128 (533) 131 (199) 266,910 371,589
Comprehensive Income/(Loss) 128 (533) 131 (199) 266,910 371,589
519
(in thousand pesos)
2018 2017 2018 2017 2018 2017
Income
Service and Business Income 3 6 3,696,046 3,223,794 56,365 43,136
Gains - - 30,961 - 3 0
Total Income 3 6 3,727,007 3,223,794 56,368 43,136
Expenses
Personnel Services - - 1,014,647 936,533 46,358 42,517
Maintenance and Other Operating Expenses - - 350,763 362,944 36,422 35,395
Financial Expenses - - 131,260 151,200 - -
Non-Cash Expenses - - 656,647 766,476 14,663 12,754
Total Expenses - - 2,153,318 2,217,152 97,443 90,666
Profit/(Loss) Before Tax 3 6 1,573,689 1,006,642 (41,075) (47,530)

Income Tax Expense - - 124,169 98,765 - -
Profit/(Loss) After Tax 3 6 1,449,519 907,877 (41,075) (47,530)
Net Assistance/Subsidy - - - - 50,081 50,000
Net Income/(Loss) 3 6 1,449,519 907,877 9,006 2,470
Comprehensive Income/(Loss) 3 6 1,449,519 907,877 9,006 2,470
520
(in thousand pesos)
2018 2017 2018 2017 2018 2017

(Restated)
Income
Tax Revenue 3,181,864 2,852,449 - - - -
Gains 4,365 106 - - - -
Other Non-Operating Income 13,201 12,501 - - 1,990 910
Total Income 4,158,553 3,784,703 20,575 11,389 211,362 250,447
Expenses
Direct Costs 19,869 17,758 - - - -
Total Expenses 1,686,779 1,539,560 58,316 51,005 192,297 178,439
Profit/(Loss) Before Tax 2,471,774 2,245,143 (37,741) (39,616) 19,065 72,008

Income Tax Expense 7,344 37,697 - - 4,001 36,452
Profit/(Loss) After Tax 2,464,431 2,207,445 (37,741) (39,616) 15,064 35,556
Net Assistance/Subsidy (388,486) (268,299) 59,513 40,000 - -
Net Income/(Loss) 2,075,945 1,939,147 21,772 384 15,064 35,556
Comprehensive Income/(Loss) 2,075,945 1,939,147 21,772 384 15,064 35,556
521
(in thousand pesos)
2018 2017 2018 2017 2018 2017
Income
Service and Business Income 118,008 105,449 2 3 3,523 3,867
Gains - - - - 1,000 2
Other Non-Operating Income 109 35 6,882 7,346 46 20
Total Income 118,117 105,484 6,884 7,349 4,569 3,889
Expenses
Direct Costs - - - - 45 -
Non-Cash Expenses 27,044 31,097 21 18 4,164 4,323
Total Expenses 111,041 103,147 6,802 5,621 64,799 46,728
Profit/(Loss) Before Tax 7,075 2,336 82 1,729 (60,230) (42,838)

Income Tax Expense 1,980 - - - - -
Profit/(Loss) After Tax 5,095 2,336 82 1,729 (60,230) (42,838)
Net Assistance/Subsidy - - - - 64,793 41,058
Net Income/(Loss) 5,095 2,336 82 1,729 4,563 (1,780)
Comprehensive Income/(Loss) 5,095 2,336 82 1,729 4,563 (1,780)
522
(in thousand pesos)
TIEZA CFI
2018 2017 2018 2017

(Restated)
Income
Tax Revenue 3,181,864 2,852,449 - -
Service and Business Income 590,294 530,067 17,350 19,334
Shares, Grants and Donations - - - -
Gains 3,365 104 - 0
Other Non-Operating Income 4,174 4,189 - -
Total Income 3,779,697 3,386,810 17,350 19,334
Expenses
Financial Expenses 8,680 9,479 163 -
Direct Costs 19,823 17,758 - -
Non-Cash Expenses 225,556 211,239 9,476 11,062
Total Expenses 1,222,879 1,125,426 30,644 29,194
Profit/(Loss) Before Tax 2,556,818 2,261,384 (13,294) (9,859)

Income Tax Expense 1,363 1,245 - -
Profit/(Loss) After Tax 2,555,455 2,260,139 (13,294) (9,859)
Net Assistance/Subsidy (512,792) (349,357) - -
Net Income/(Loss) 2,042,663 1,910,782 (13,294) (9,859)
(Loss) for the Period - - - -
Comprehensive Income/(Loss) 2,042,663 1,910,782 (13,294) (9,859)
523
(in thousand pesos)
Total GBE FTI
2018 2017 2018 2017 2018 2017

Income
Service and Business Income 22,033,927 21,265,504 2,201,154 1,670,866 245,893 286,079
Gains 175,338 2,687,262 1,584 2,578,392 - 2,578,115
Other Non-Operating Income 1,038,115 906,626 53,117 63,373 30,629 32,139
Total Income 23,341,629 24,877,843 2,255,855 4,312,631 276,522 2,896,332
Expenses
Financial Expenses 6,923,773 6,512,650 28,740 21,615 109 130
Direct Costs 23,658,629 21,659,836 3,480,883 2,253,044 - -
Total Expenses 49,935,495 42,601,482 4,980,395 3,522,357 100,094 76,547
Profit/(Loss) Before Tax (26,593,866) (17,723,639) (2,724,540) 790,274 176,428 2,819,785

Profit/(Loss) After Tax (26,819,188) (18,682,868) (2,813,559) (129,499) 130,804 1,927,584
Net Assistance/Subsidy 52,378,014 42,593,306 3,579,563 2,585,596 - -
Net Income/(Loss) 25,558,826 23,910,438 766,005 2,456,097 130,804 1,927,584
Comprehensive Income/(Loss) 25,562,147 23,891,444 769,326 2,437,103 130,804 1,927,584
524
(in thousand pesos)
HSDC NRDC PMDC
2018 2017 2018 2017 2018 2017

(Restated)
Income
Gains - - - - 860 1
Other Non-Operating Income - - 53 60 - -
Total Income 56,071 51,052 18,222 20,685 164,638 51,214
Expenses
Personnel Services - - 6,569 10,316 43,689 28,668
Financial Expenses 0 0 1,805 1,363 7,638 8,651
Non-Cash Expenses 3,949 4,209 576 11,239 3,366 3,470
Total Expenses 31,813 27,377 18,915 55,078 85,931 59,298
Profit/(Loss) Before Tax 24,258 23,676 (693) (34,393) 78,707 (8,084)

Income Tax Expense - - - - 13,389 -
Profit/(Loss) After Tax 24,258 23,676 (693) (34,393) 65,318 (8,084)
Net Assistance/Subsidy - - - - (117) -
Net Income/(Loss) 24,258 23,676 (693) (34,393) 65,201 (8,084)
Comprehensive Income/(Loss) 24,258 23,676 (693) (34,393) 65,201 (8,084)
525
(in thousand pesos)
PCIC PFDA PHILSUCOR
2018 2017 2018 2017 2018 2017

(Restated)
Income
Gains 0 35 724 241 - -
Other Non-Operating Income 3,559 2,871 1,762 336 17,114 27,967
Total Income 894,048 507,570 808,378 742,863 37,975 42,914
Expenses
Financial Expenses 4,000 427 15,186 11,039 4 5
Direct Costs 3,480,883 2,253,044 - - - -
Total Expenses 4,072,247 2,670,572 643,051 614,816 28,344 18,670
Profit/(Loss) Before Tax (3,178,199) (2,163,002) 165,327 128,047 9,631 24,245

Income Tax Expense - - 29,493 27,894 513 (322)
Profit/(Loss) After Tax (3,178,199) (2,163,002) 135,834 100,153 9,118 24,567
Net Assistance/Subsidy 3,500,000 2,500,000 79,680 85,596 - -
Net Income/(Loss) 321,801 336,998 215,515 185,749 9,118 24,567
(Loss) for the Period - - - - 3,321 (18,993)
526
(in thousand pesos)
Non-GBE NDA NFA
2018 2017 2018 2017 2018 2017

(Restated)
Income
Shares, Grants and Donations 94,249 18,451 - - 44 375
Gains 173,754 108,870 466 1,375 158,923 92,127
Other Non-Operating Income 984,999 843,253 2,793 1,136 107,504 122,215
Total Income 21,085,775 20,565,212 12,318 16,983 18,383,644 18,024,233
Expenses
Personnel Services 6,114,330 5,411,837 111,259 95,731 2,402,056 2,195,736
Financial Expenses 6,895,032 6,491,035 11 9 6,366,230 5,962,358
Direct Costs 20,177,747 19,406,791 - - 20,171,062 19,385,764
Total Expenses 44,955,100 39,079,125 216,199 242,560 30,783,442 29,552,728
Profit/(Loss) Before Tax (23,869,326) (18,513,913) (203,881) (225,578) (12,399,798) (11,528,495)

Profit/(Loss) After Tax (24,005,629) (18,553,369) (203,881) (225,578) (12,399,798) (11,528,495)
Net Assistance/Subsidy 48,798,450 40,007,710 470,694 199,945 12,785,155 5,100,000
Net Income/(Loss) 24,792,821 21,454,341 266,813 (25,633) 385,357 (6,428,495)
Comprehensive Income/(Loss) 24,792,821 21,454,341 266,813 (25,633) 385,357 (6,428,495)
527
(in thousand pesos)
NIA NTA PCA
2018 2017 2018 2017 2018 2017

Income
Shares, Grants and Donations 80 86 - - - -
Gains 5,840 10,690 171 3,135 0 25
Other Non-Operating Income 651,172 652,513 875 279 216,809 56,386
Total Income 873,208 1,120,478 159,424 152,572 567,241 331,853
Expenses
Financial Expenses 525,560 526,073 42 13 0 2
Direct Costs - - 6,684 21,027 - -
Total Expenses 10,049,202 5,280,501 192,158 168,683 2,337,573 2,226,285
Profit/(Loss) Before Tax (9,175,995) (4,160,023) (32,734) (16,111) (1,770,332) (1,894,431)

Profit/(Loss) After Tax (9,175,995) (4,160,023) (32,734) (16,111) (1,770,332) (1,894,431)
Net Assistance/Subsidy 33,304,104 31,689,502 (25,911) (3,065) 1,373,549 1,324,117
Net Income/(Loss) 24,128,109 27,529,479 (58,645) (19,176) (396,783) (570,314)
Comprehensive Income/(Loss) 24,128,109 27,529,479 (58,645) (19,176) (396,783) (570,314)
528
(in thousand pesos)
2018 2017 2018 2017 2018 2017

(Restated)
Income
Gains 7,947 930 64 15 342 572
Other Non-Operating Income 4,109 7,462 134 1,016 1,603 2,246
Total Income 125,948 47,506 42,012 304,471 921,980 567,116
Expenses
Financial Expenses 1,340 57 1,562 2,111 286 412
Total Expenses 578,484 575,542 309,549 594,616 488,494 438,210
Profit/(Loss) Before Tax (452,536) (528,036) (267,537) (290,145) 433,486 128,906

Income Tax Expense - - - - 136,303 39,456
Profit/(Loss) After Tax (452,536) (528,036) (267,537) (290,145) 297,183 89,450
Net Assistance/Subsidy 778,359 561,000 - - 112,500 1,136,211
Net Income/(Loss) 325,823 32,964 (267,537) (290,145) 409,683 1,225,662
Comprehensive Income/(Loss) 325,823 32,964 (267,537) (290,145) 409,683 1,225,662
529
(in thousand pesos)
Total GBE IBC 13
2018 2017 2018 2017 2018 2017

Income
Service and Business Income 226,385,490 188,022,870 217,284,251 179,091,561 51,472 92,050
Shares, Grants and Donations 142,280 326,064 995 - - -
Gains 34,241,611 332,599 34,226,507 329,648 - 84
Other Non-Operating Income 120,552 168,208 51,452 75,380 61 625
Total Income 260,889,933 188,849,741 251,563,204 179,496,588 51,534 92,760
Expenses
Financial Expenses 176,577 168,872 131,010 119,106 52 1,123
Direct Costs 423,574 486,496 195,462 199,401 34,734 41,353
Total Expenses 207,547,658 181,041,368 196,027,771 170,350,307 201,307 199,392
Profit/(Loss) Before Tax 53,342,275 7,808,372 55,535,433 9,146,281 (149,773) (106,632)

Profit/(Loss) After Tax 52,423,429 7,607,191 54,616,738 8,945,237 (149,773) (106,632)
Net Assistance/Subsidy (4,946,053) 2,113,485 (9,167,475) (1,712,438) - -
Net Income/(Loss) 47,477,376 9,720,676 45,449,264 7,232,799 (149,773) (106,632)
(Loss) for the Period (59,891) (12,133) (59,891) (12,133) - -
Comprehensive Income/(Loss) 47,417,485 9,708,544 45,389,373 7,220,667 (149,773) (106,632)
530
(in thousand pesos)
PAGCOR PCSO PHIC
2018 2017 2018 2017 2018 2017

Income
Shares, Grants and Donations - - - - 995 -
Gains 33,451,387 250,303 17,140 1,286 101 50,793
Other Non-Operating Income 5,962 4,610 29,135 23,539 15,924 46,212
Total Income 104,655,243 60,345,901 63,097,327 53,987,627 81,338,370 63,972,632
Expenses
Personnel Services 7,896,419 7,659,459 909,557 1,315,430 4,117,906 4,528,478
Maintenance and Other Operating Expenses 8,496,932 7,656,177 48,299,765 38,537,790 122,996,132 108,165,195
Financial Expenses 340 32,555 6,000 6,631 106,320 60,365
Total Expenses 17,606,864 16,634,876 49,285,524 39,942,910 127,641,858 113,061,947
Profit/(Loss) Before Tax 87,048,379 43,711,025 13,811,803 14,044,716 (46,303,488) (49,089,315)

Income Tax Expense 149,407 83,240 622,239 - - -
Profit/(Loss) After Tax 86,898,972 43,627,785 13,189,564 14,044,716 (46,303,488) (49,089,315)
Net Assistance/Subsidy (55,408,513) (38,384,859) (11,678,375) (12,654,061) 57,919,413 49,326,482
Net Income/(Loss) 31,490,459 5,242,926 1,511,189 1,390,655 11,615,925 237,167
(Loss) for the Period - - (62,791) (12,133) - -
Comprehensive Income/(Loss) 31,490,459 5,242,926 1,448,398 1,378,523 11,615,925 237,167
531
(in thousand pesos)
PITC PPPI PRA
2018 2017 2018 2017 2018 2017

(Restated)
Income
Gains 8,175 4,043 - - 749,703 23,138
Other Non-Operating Income 162 356 9 37 198 -
Total Income 701,093 250,840 56,676 67,336 1,662,962 779,493
Expenses
Direct Costs 4,034 7,479 46,493 53,927 110,201 96,642
Non-Cash Expenses 4,852 4,595 1,003 722 780,334 25,279
Total Expenses 134,997 124,398 93,431 102,764 1,063,791 284,020
Profit/(Loss) Before Tax 566,096 126,442 (36,755) (35,429) 599,171 495,473

Income Tax Expense 5,181 197 (92) 410 141,961 117,196
Profit/(Loss) After Tax 560,915 126,245 (36,663) (35,838) 457,210 378,277
Net Income/(Loss) 560,915 126,245 (36,663) (35,838) 457,210 378,277
(Loss) for the Period - - - - 2,900 -
Comprehensive Income/(Loss) 560,915 126,245 (36,663) (35,838) 460,110 378,277
532
(in thousand pesos)
Non-GBE BSoP CCP
2018 2017 2018 2017 2018 2017

Income
Shares, Grants and Donations 141,285 326,064 2,178 5 4,227 488
Gains 15,104 2,951 - - 1,753 331
Other Non-Operating Income 69,100 92,828 - - 1,413 12,634
Total Income 9,326,729 9,353,153 282,342 491,503 241,796 221,382
Expenses
Financial Expenses 45,567 49,766 31,045 35,466 386 242
Direct Costs 228,112 287,095 98,573 179,897 - -
Total Expenses 11,519,887 10,691,061 298,104 377,794 461,977 402,586
Profit/(Loss) Before Tax (2,193,158) (1,337,908) (15,763) 113,709 (220,181) (181,204)

Income Tax Expense 152 138 - - - -
Profit/(Loss) After Tax (2,193,310) (1,338,046) (15,763) 113,709 (220,181) (181,204)
Net Assistance/Subsidy 4,221,422 3,825,923 - - 285,062 829,961
Net Income/(Loss) 2,028,112 2,487,877 (15,763) 113,709 64,881 648,757
Comprehensive Income/(Loss) 2,028,112 2,487,877 (15,763) 113,709 64,881 648,757
533
(in thousand pesos)
CITEM DAP LCP
2018 2017 2018 2017 2018 2017

Income
Shares, Grants and Donations - - - - 95,294 211,211
Gains 5,890 523 498 30 - -
Total Income 89,849 66,947 372,536 383,153 718,007 772,519
Expenses
Total Expenses 263,424 255,618 583,993 581,030 950,954 852,321

Net Assistance/Subsidy 231,876 220,000 281,279 212,159 257,657 265,190
Net Income/(Loss) 58,301 31,329 69,822 14,282 24,710 185,388
534
(in thousand pesos)
NKTI PCED PCMC
2018 2017 2018 2017 2018 2017

Income
Shares, Grants and Donations 7,264 1,853 - - 32,323 112,507
Gains - 1,237 - - 335 18
Other Non-Operating Income 34,243 32,468 - - 14,296 11,677
Total Income 3,684,159 3,589,131 6,194 8,493 303,320 484,287
Expenses
Financial Expenses 7,950 6,148 9 - 265 312
Direct Costs - - - - 128,001 98,827
Non-Cash Expenses 1,179,980 922,303 4,058 4,381 101,200 78,364
Total Expenses 3,582,776 3,325,583 34,943 27,908 1,038,192 938,352
Profit/(Loss) Before Tax 101,383 263,548 (28,749) (19,415) (734,871) (454,064)

Profit/(Loss) After Tax 101,383 263,548 (28,749) (19,415) (734,871) (454,064)
Net Income/(Loss) 905,937 731,637 7,176 25,330 203,714 90,099
535
(in thousand pesos)
PHC PIDS PITAHC
2018 2017 2018 2017 2018 2017

Income
Gains 5,595 438 872 328 - -
Other Non-Operating Income 17,015 28,588 951 - 775 36
Total Income 3,044,144 2,752,655 40,150 29,068 10,329 22,930
Expenses
Financial Expenses 87 118 322 71 12 264
Direct Costs - - - - 1,538 8,371
Total Expenses 3,543,053 3,135,738 170,067 157,913 138,414 142,088

Income Tax Expense - - - - 152 138
Net Income/(Loss) 389,824 230,511 1,893 72,366 (25,001) (9,756)
Comprehensive Income/(Loss) 389,824 230,511 1,893 72,366 (25,001) (9,756)
536
(in thousand pesos)
PTNI TPB VFP
2018 2017 2018 2017 2018 2017

Income
Gains 162 47 - - - -
Other Non-Operating Income 393 3,850 14 3,575 - -
Total Income 198,935 236,341 29,846 57,571 305,121 237,172
Expenses
Personnel Services 87,472 89,811 - - 40,694 39,248
Maintenance and Other Operating Expenses 194,799 162,868 - - 74,216 58,221
Financial Expenses 696 1,454 - - 96 149
Non-Cash Expenses 54,850 141,420 - - 1,166 961
Total Expenses 337,817 395,553 - - 116,172 98,578
Profit/(Loss) Before Tax (138,883) (159,212) 29,846 57,571 188,949 138,594

Profit/(Loss) After Tax (138,883) (159,212) 29,846 57,571 188,949 138,594
Net Assistance/Subsidy 262,705 317,273 - - - -
Net Income/(Loss) 123,822 158,061 29,846 57,571 188,949 138,594
537
STATEMENT OF
CHANGES IN NET
ASSETS/EQUITY
Statement of Changes in Net Assets/Equity
(in thousand pesos)
Total GBE BSP (includes PICCI

accounts)
2018 2017 2018 2017 2018 2017
GOVERNMENT EQUITY
Beginning balance 3,128,576 3,145,346 3,000,000 3,000,000 - -
Changes in Equity for the Year (45,971) (16,770) - - - -
Add/(Deduct):
Surplus/(Deficit) for the period (46,148) (16,643) - - - -
Other Adjustments 177 (127) - - - -
Ending Balance 3,082,606 3,128,576 3,000,000 3,000,000 - -
REVALUATION SURPLUS
Beginning balance 61,200 61,200 61,200 61,200 - -
Ending Balance 61,200 61,200 61,200 61,200 - -
Adjustments: - 271,648 - 271,648 - (26,918)
Add/(Deduct):
Prior Period Errors - 305,569 - 305,569 - -
Other Adjustments - (33,921) - (33,921) - (26,918)
Changes in Equity for the Year 64,487,763 57,037,891 64,487,763 57,037,891 36,225,780 21,536,704
Add/(Deduct):
Net Income/Loss for the Year 67,955,027 50,015,837 67,955,027 50,015,837 39,845,224 23,536,547
Dividends (13,987,652) (12,141,639) (13,987,652) (12,141,639) (3,636,740) (1,842,496)
Other Adjustments 10,520,387 19,163,693 10,520,387 19,163,693 17,295 (157,347)
Ending Balance 360,684,438 296,196,675 360,684,438 296,196,675 68,242,186 32,016,406
Changes in Equity for the Year 7,495,368 3,184,000 7,489,535 3,184,000 - -
Add/(Deduct):
Issuances of Share Capital 2,437,325 3,000 2,428,992 3,000 - -
Additional Capital from National
Government 5,309,778 3,181,000 5,309,778 3,181,000 - -
Other Adjustments (251,735) 0 (249,235) 0 - -
Ending Balance 100,464,840 92,969,472 100,339,840 92,850,305 50,000,000 50,000,000

Changes in Equity for the Year 231,756 - 231,756 - - -
Add/(Deduct):
Other Comprehensive Income/Loss for
the Year 231,756 - 231,756 - - -
Ending Balance 231,756 - 231,756 - - -

OF INVESTMENTS
Beginning balance 2,608,054 (876,430) 2,608,054 (876,430) (1,324,098) (2,495,068)
Changes in Equity for the Year 4,805,891 3,484,483 4,805,891 3,484,483 (483,685) 1,170,971
Add/(Deduct):
Changes in fair value of available-for-sale
securities 4,805,891 3,484,483 4,805,891 3,484,483 (483,685) 1,170,971
Ending Balance 7,413,945 2,608,054 7,413,945 2,608,054 (1,807,783) (1,324,098)
Total Equity 471,938,784 394,963,977 471,731,178 394,716,234 116,434,403 80,692,308
538
(in thousand pesos)
DBP AAIIBP DBPLC
2018 2017 2018 2017 2018 2017

(Restated)
GOVERNMENT EQUITY
Add/(Deduct):
Surplus/(Deficit) for the period - - - - - -
REVALUATION SURPLUS
Beginning balance 32,217,810 29,270,935 (765,883) (707,503) (27,597) (90,404)
Adjustments: - - - 716 - 7
Add/(Deduct):
Prior Period Errors - - - 922 - 7
Other Adjustments - - - (206) - -
Restated Balance 32,217,810 29,270,935 (765,883) (706,787) (27,597) (90,397)
Changes in Equity for the Year 2,580,950 2,946,875 (77,141) (59,096) (77,892) 62,800
Add/(Deduct):
Net Income/Loss for the Year 5,722,650 5,489,304 (77,141) (59,096) (51,690) 64,733
Dividends (959,037) (2,516,158) - - (26,202) (1,933)
Other Adjustments (2,182,663) (26,271) - - - -
Ending Balance 34,798,760 32,217,810 (843,024) (765,883) (105,489) (27,597)
Changes in Equity for the Year 2,000,000 - - - - -
Add/(Deduct):
Issuances of Share Capital 2,000,000 - - - - -
Government - - - - - -
Ending Balance 19,500,000 17,500,000 1,005,241 1,005,241 1,132,000 1,132,000

Add/(Deduct):
the Year - - - - - -

OF INVESTMENTS
Beginning balance (1,420,217) (1,881,055) - - - -
Changes in Equity for the Year (1,160,404) 460,838 - - - -
Add/(Deduct):
securities (1,160,404) 460,838 - - - -
Ending Balance (2,580,621) (1,420,217) - - - -
Total Equity 51,718,139 48,297,593 162,217 239,358 1,026,511 1,104,403
539
(in thousand pesos)
DBPMC DCI LBP
2018 2017 2018 2017 2018 2017

Restated
GOVERNMENT EQUITY
Add/(Deduct):
REVALUATION SURPLUS
Beginning balance 26,562 25,399 10,213 18,178 87,199,747 71,748,218
Adjustments: - - - - - 276,304
Add/(Deduct):
Prior Period Errors - - - - - 276,431
Other Adjustments - - - - - (127)
Restated Balance 26,562 25,399 10,213 18,178 87,199,747 72,024,522
Changes in Equity for the Year 758 1,163 2,225 (7,964) 9,226,358 15,175,225
Add/(Deduct):
Net Income/Loss for the Year 758 1,046 2,830 1,217 16,589,956 15,175,225
Dividends - - (605) (6,182) - -
Other Adjustments - 117 - (3,000) (7,363,597) -
Ending Balance 27,319 26,562 12,439 10,213 96,426,105 87,199,747
Changes in Equity for the Year - - - 3,000 5,309,778 3,181,000
Add/(Deduct):
Issuances of Share Capital - - - 3,000 - -
Government - - - - 5,309,778 3,181,000
Ending Balance 45,000 45,000 23,280 23,280 26,391,876 21,082,098

Changes in Equity for the Year - - - - 231,756 -
Add/(Deduct):
the Year - - - - 231,756 -
Ending Balance - - - - 231,756 -

OF INVESTMENTS
Beginning balance (171) (140) - - 5,411,941 3,536,033
Changes in Equity for the Year (12) (31) - - 6,496,608 1,875,908
Add/(Deduct):
securities (12) (31) - - 6,496,608 1,875,908
Ending Balance (184) (171) - - 11,908,549 5,411,941
Total Equity 72,136 71,390 35,719 33,493 134,958,287 113,693,786
540
(in thousand pesos)
LBRDC LIBI LLFC
2018 2017 2018 2017 2018 2017

(Restated)
GOVERNMENT EQUITY
Add/(Deduct):
REVALUATION SURPLUS
Beginning balance 61,200 61,200 - - - -
Ending Balance 61,200 61,200 - - - -
Beginning balance 370,834 331,465 690,400 650,119 828,693 783,370
Add/(Deduct):
Prior Period Errors - - - - - -
Restated Balance 370,834 331,465 690,400 650,119 828,693 783,370
Changes in Equity for the Year 11,541 39,369 60,846 40,281 66,894 45,323
Add/(Deduct):
Net Income/Loss for the Year 53,987 69,870 93,576 77,018 115,206 94,075
Dividends (34,210) (30,501) (39,899) (37,759) (48,313) (48,752)
Other Adjustments (8,236) 0 7,169 1,022 - -
Ending Balance 382,375 370,834 751,246 690,400 895,586 828,693
Changes in Equity for the Year - - - - (0) 0
Add/(Deduct):
Issuances of Share Capital - - - - - -
Other Adjustments - - - - (0) 0
Ending Balance 138,375 138,375 300,000 300,000 599,523 599,523

Add/(Deduct):
the Year - - - - - -

OF INVESTMENTS
Beginning balance - - - - (5,288) (112)
Changes in Equity for the Year - - - - 1,143 (5,177)
Add/(Deduct):
securities - - - - 1,143 (5,177)
Ending Balance - - - - (4,145) (5,288)
Total Equity 581,950 570,409 1,051,246 990,400 1,490,964 1,422,928
541
(in thousand pesos)
2018 2017 2018 2017 2018 2017

Restated
GOVERNMENT EQUITY
Add/(Deduct):
REVALUATION SURPLUS
Beginning balance 59,494 45,594 (673,794) (632,596) 65,394 182,645
Adjustments: - - - - - (6,670)
Add/(Deduct):
Prior Period Errors - - - - -
Other Adjustments - - - - - (6,670)
Restated Balance 59,494 45,594 (673,794) (632,596) 65,394 175,974
Changes in Equity for the Year (11,017) 13,899 (32,775) (41,198) (740,528) (110,580)
Add/(Deduct):
Net Income/Loss for the Year 8,477 30,740 (34,622) (42,860) (740,528) (110,580)
Dividends (15,370) (13,560) - - - -
Other Adjustments (4,124) (3,281) 1,846 1,663 - -
Ending Balance 48,477 59,494 (706,569) (673,794) (675,134) 65,394
Add/(Deduct):
Issuances of Share Capital - - - - 428,992 -
Other Adjustments - - - - (249,235) -
Ending Balance 100,000 100,000 104,545 104,545 1,000,000 820,243

Add/(Deduct):
the Year - - - - - -

OF INVESTMENTS
Beginning balance - - - - (54,113) (36,088)
Changes in Equity for the Year - - - - (47,758) (18,026)
Add/(Deduct):
securities - - - - (47,758) (18,026)
Ending Balance - - - - (101,872) (54,113)
Total Equity 148,477 159,494 (602,024) (569,249) 222,994 831,524
542
(in thousand pesos)
PDIC Non-GBE CIC
2018 2017 2018 2017 2018 2017

(Restated)
GOVERNMENT EQUITY
Beginning balance 3,000,000 3,000,000 128,576 145,346 25,513 41,680
Changes in Equity for the Year - - (45,971) (16,770) (41,665) (16,168)
Add/(Deduct):
Surplus/(Deficit) for the period - - (46,148) (16,643) (41,665) (16,168)
Other Adjustments - - 177 (127) - -
Ending Balance 3,000,000 3,000,000 82,606 128,576 (16,152) 25,513
REVALUATION SURPLUS
Beginning balance 144,178,396 126,755,097 - -
Adjustments: - 28,210 - - - -
Add/(Deduct):
Prior Period Errors - 28,210 - - - -
Other Adjustments - - - - -
Restated Balance 144,178,396 126,783,306 - - - -
Changes in Equity for the Year 17,251,763 17,395,090 - - - -

Add/(Deduct):
Net Income/Loss for the Year 6,426,343 5,688,598 - - - -
Dividends (9,227,276) (7,644,299) - - - -
Ending Balance 161,430,159 144,178,396 - - - -
Beginning balance - - 119,167 119,167 119,167 119,167
Changes in Equity for the Year - - 5,833 - 5,833 -
Add/(Deduct):
Issuances of Share Capital - - 8,333 - 8,333 -
Other Adjustments - - (2,500) - (2,500) -
Ending Balance - - 125,000 119,167 125,000 119,167

Add/(Deduct):
the Year - - - - - -

OF INVESTMENTS
Add/(Deduct):
securities - - - - - -
Total Equity 164,430,159 147,178,396 207,606 247,743 108,848 144,679
543
(in thousand pesos)
LCDFI
2018 2017
GOVERNMENT EQUITY
Changes in Equity for the Year (4,305) (602)
Add/(Deduct):
Surplus/(Deficit) for the period (4,483) (475)
Other Adjustments 177 (127)
REVALUATION SURPLUS
Ending Balance - -
Beginning balance
Adjustments: - -
Add/(Deduct):
Restated Balance - -

Add/(Deduct):
Net Income/Loss for the Year - -
Dividends - -
Ending Balance - -
Add/(Deduct):
Issuances of Share Capital - -
Government - -
Ending Balance - -

Add/(Deduct):
the Year - -
Ending Balance - -

OF INVESTMENTS
Add/(Deduct):
securities - -
Ending Balance - -
Total Equity 98,758 103,063
544
For the ended December 31, 2018
(in thousand pesos)
Total GBE AFPRSBS

2018 2017 2018 2017 2018 2017
GOVERNMENT EQUITY
Adjustments: - 252,344 - - - -
Add/(Deduct):
Restated Balance 126,137,415 106,179,845 12,669,699 10,942,999 200,000 200,000
Changes in Equity for the Year (1,275,166) 19,957,570 3,174 1,726,700 - -

Add/(Deduct):
Government - 1,726,700 - 1,726,700 - -
Surplus/(Deficit) for the period (1,246,085) 18,250,518 - - - -
Dividends (32,263) (18,220) - - - -
Other Adjustments 3,182 (1,428) 3,174 - - -
Ending Balance 124,862,248 126,137,415 12,672,872 12,669,699 200,000 200,000
REVALUATION SURPLUS
Beginning balance 18,985,982 19,690,001 12,741,161 13,463,393 -
Adjustments: - (704,019) - (722,233) - -
Add/(Deduct):
Other Adjustments - (704,019) - (722,233) - -
Restated Balance 18,985,982 18,985,982 12,741,161 12,741,161 - -
Changes in Equity for the Year 9,810,060 - 9,810,060 - - -

Add/(Deduct):
the Year 9,810,060 - 9,810,060 - - -
Ending Balance 28,796,042 18,985,982 22,551,220 12,741,161 - -
Beginning balance 1,639,050,501 1,533,156,020 1,639,050,501 1,533,156,020 1,872,229 987,484
Adjustments: - (22,042,926) - (22,042,926) - -
Add/(Deduct):
Prior Period Errors - (1,616,466) - (1,616,466) - -
Other Adjustments - (21,119,570) - (21,119,570) - -
Restated Balance 1,639,050,501 1,511,113,094 1,639,050,501 1,511,113,094 1,872,229 987,484
Changes in Equity for the Year 100,716,733 127,937,407 100,716,733 127,937,407 5,704,037 884,745
Add/(Deduct):
Net Income/Loss for the Year 129,749,237 151,240,559 129,749,237 151,240,559 5,704,037 884,745
Dividends (28,788,833) (22,987,041) (28,788,833) (22,987,041)
Other Adjustments (243,671) (316,110) (243,671) (316,110) - -
Ending Balance 1,739,767,234 1,639,050,501 1,739,767,234 1,639,050,501 7,576,266 1,872,229
Changes in Equity for the Year 500,000 - 500,000 - - -
Add/(Deduct):
Government 500,000 - 500,000 - - -
Ending Balance 16,707,958 16,207,958 16,707,958 16,207,958 - -

OF INVESTMENTS
Beginning balance (13,474,096) (16,996,571) (13,474,096) (16,996,571) 1,270 10,732
Adjustments: - 90,192 - 90,192 - -
Add/(Deduct):
Restated Balance (13,474,096) (16,906,379) (13,474,096) (16,906,379) 1,270 10,732
545
(in thousand pesos)
Total GBE AFPRSBS

2018 2017 2018 2017 2018 2017
Changes in Equity for the Year (69,238,892) 3,432,283 (69,238,892) 3,432,283 (7,343) (9,462)
Add/(Deduct):
Changes in fair value of available-for-
sale securities (69,238,892) 3,432,448 (69,238,892) 3,432,448 (7,343) (9,462)
Other Adjustments - (165) - (165) - -
Ending Balance (82,712,989) (13,474,096) (82,712,989) (13,474,096) (6,073) 1,270
MEMBER'S EQUITY
Add/(Deduct):
Member's Contribution 40,732,963 33,880,667 40,732,963 33,880,667 - -
Dividends 27,293,615 22,301,678 27,293,615 22,301,678 - -
Other Adjustments (20,526,809) (12,345,098) (20,526,809) (12,345,098) - -
Ending Balance 409,709,776 362,210,007 409,709,776 362,210,007 - -
Total Equity 2,237,130,269 2,149,117,767 2,118,696,072 2,029,405,229 7,770,193 2,073,500
546
(in thousand pesos)
SUMSI GSIS HDMF

2018 2017 2018 2017 2018 2017
GOVERNMENT EQUITY
Add/(Deduct):
Restated Balance - - - - - -

Add/(Deduct):
REVALUATION SURPLUS
Beginning balance - - 8,176,863 8,176,863 - -
Add/(Deduct):
Restated Balance - - 8,176,863 8,176,863 - -
Changes in Equity for the Year - - 7,581,713 - - -

Add/(Deduct):
the Year - - 7,581,713 - - -
Ending Balance - - 15,758,575 8,176,863 - -
Beginning balance 13,800 18,973 1,072,630,617 1,001,898,473 74,525,853 67,536,534
Adjustments: - (2,478) - (24,230,486) - (904,343)
Add/(Deduct):
Changes in Accounting Policy - - - - -
Prior Period Errors - (2,478) - (714,897) - (904,343)
Other Adjustments - - - (23,515,589) - -
Restated Balance 13,800 16,495 1,072,630,617 977,667,986 74,525,853 66,632,192
Changes in Equity for the Year 4,128 (2,695) 63,935,687 94,962,631 5,865,063 7,893,661
Add/(Deduct):
Net Income/Loss for the Year 7,128 6,305 63,948,687 94,967,246 33,171,981 30,268,113
Dividends (3,000) (9,000) (13,000) (4,615) (27,293,615) (22,301,678)
Other Adjustments - - - - (13,303) (72,774)
Ending Balance 17,928 13,800 1,136,566,304 1,072,630,617 80,390,916 74,525,853
Add/(Deduct):
Ending Balance 10,000 10,000 - - - -

OF INVESTMENTS
Beginning balance - - 93,893 - (5,333,274) (1,298,544)
Adjustments: - - - 90,192 - -
Add/(Deduct):
Changes in Accounting Policy - - - 90,192 - -
Restated Balance - - 93,893 90,192 (5,333,274) (1,298,544)
547
(in thousand pesos)
SUMSI GSIS HDMF

2018 2017 2018 2017 2018 2017
Changes in Equity for the Year - - (39,825,988) 3,701 (7,068,302) (4,034,731)
Add/(Deduct):
sale securities - - (39,825,988) 3,701 (7,068,302) (4,034,731)
Ending Balance - - (39,732,095) 93,893 (12,401,577) (5,333,274)
MEMBER'S EQUITY
Beginning balance - - - - 361,436,073 317,744,306
Changes in Equity for the Year - - - - 47,400,296 43,691,766
Add/(Deduct):
Member's Contribution - - - - 40,591,517 33,710,936
Dividends - - - - 27,293,615 22,301,678
Other Adjustments - - - - (20,484,836) (12,320,848)
Ending Balance - - - - 408,836,369 361,436,073
Total Equity 27,928 23,800 1,112,592,784 1,080,901,373 476,825,708 430,628,651
548
(in thousand pesos)
HGC NHMFC SHFC

2018 2017 2018 2017 2018 2017
GOVERNMENT EQUITY
Add/(Deduct):
Changes in Equity for the Year - - - 1,226,700 - -

Add/(Deduct):
Government - - - 1,226,700 - -
Ending Balance - - 5,605,405 5,605,405 - -
REVALUATION SURPLUS
Beginning balance 1,685,209 2,407,442 - - - -
Adjustments: - (722,233) - - - -
Add/(Deduct):

Add/(Deduct):
the Year - - - - - -
Ending Balance 1,685,209 1,685,209 - - - -
Beginning balance (7,964,684) (8,547,075) (3,661,916) (4,586,214) 5,504,450 4,153,017
Adjustments: - 332,764 - 90,556 - 3,920
Add/(Deduct):
Other Adjustments - 332,764 - 90,556 - 3,920
Restated Balance (7,964,684) (8,214,312) (3,661,916) (4,495,658) 5,504,450 4,156,937
Changes in Equity for the Year 1,114,195 249,628 212,327 833,743 656,389 1,347,513
Add/(Deduct):
Net Income/Loss for the Year 2,265,818 527,482 392,957 1,130,794 768,175 1,432,226
Dividends (1,151,624) (277,854) (180,630) (297,051) (113,453) (84,713)
Other Adjustments - - - - 1,667 -
Ending Balance (6,850,489) (7,964,684) (3,449,589) (3,661,916) 6,160,839 5,504,450
Beginning balance 15,073,000 15,073,000 - - 10,000 10,000
Changes in Equity for the Year 500,000 - - - - -
Add/(Deduct):
Government 500,000 - - - - -
Ending Balance 15,573,000 15,073,000 - - 10,000 10,000

OF INVESTMENTS
Beginning balance - 165 (27,102) (19,330) - -
Add/(Deduct):
Restated Balance - 165 (27,102) (19,330) - -
549
(in thousand pesos)
HGC NHMFC SHFC

2018 2017 2018 2017 2018 2017
Changes in Equity for the Year - (165) (40,199) (7,772) - -

Add/(Deduct):
sale securities - - (40,199) (7,772) - -
Other Adjustments - (165) - - - -
Ending Balance - - (67,302) (27,102) - -
MEMBER'S EQUITY
Add/(Deduct):
Total Equity 10,407,720 8,793,525 2,088,514 1,916,387 6,170,839 5,514,450
550
(in thousand pesos)
PDGCC SBGFC SSS

2018 2017 2018 2017 2018 2017
(Restated)
GOVERNMENT EQUITY
Add/(Deduct):
Restated Balance 17,940 17,940 884,455 884,455 - -
Changes in Equity for the Year 3,174 - - - - -

Add/(Deduct):
Other Adjustments 3,174 - - - - -
Ending Balance 21,113 17,940 884,455 884,455 - -
REVALUATION SURPLUS
Add/(Deduct):
Restated Balance - - - - 2,879,088 2,879,088
Changes in Equity for the Year - - - - 2,228,347 -

Add/(Deduct):
the Year - - - - 2,228,347 -
Ending Balance - - - - 5,107,436 2,879,088
Adjustments: - - - - - 2,664,371
Add/(Deduct):
Changes in Accounting Policy - - - - - 693,115
Prior Period Errors - - - - -
Other Adjustments - - - - - 1,971,257
Changes in Equity for the Year (4,931) 3,426 956,833 760,345 22,442,170 21,135,504
Add/(Deduct):
Net Income/Loss for the Year (2,083) 2,893 981,527 775,676 22,665,109 21,376,172
Dividends (33,512) (12,130)
Other Adjustments (2,848) 533 8,817 (3,202) (222,940) (240,668)
Ending Balance 12,016 16,947 1,856,591 899,758 522,804,688 500,362,519
Add/(Deduct):
Ending Balance - - 1,114,958 1,114,958 - -

OF INVESTMENTS
Beginning balance - - - - (8,161,550) (15,650,038)
Add/(Deduct):
Restated Balance - - - - (8,161,550) (15,650,038)
551
(in thousand pesos)
PDGCC SBGFC SSS

2018 2017 2018 2017 2018 2017
(Restated)
Changes in Equity for the Year - - - - (22,265,474) 7,488,488
Add/(Deduct):
sale securities - - - - (22,265,474) 7,488,488
Ending Balance - - - - (30,427,024) (8,161,550)
MEMBER'S EQUITY
Beginning balance - - - - 773,934 628,454
Changes in Equity for the Year - - - - 99,473 145,481
Add/(Deduct):
Member's Contribution - - - - 141,446 169,731
Dividends - - - -
Other Adjustments - - - - (41,974) (24,250)
Ending Balance - - - - 873,407 773,934
Total Equity 33,129 34,887 3,856,004 2,899,171 498,358,507 495,853,991
552
(in thousand pesos)
TIDCORP Non-GBE ECC

2018 2017 2018 2017 2018 2017
GOVERNMENT EQUITY
Adjustments: - - - 252,344 - 2,431
Add/(Deduct):
Prior Period Errors - - - 252,344 - 2,431
Changes in Equity for the Year - 500,000 (1,278,340) 18,230,870 (12,040) 15,588
Add/(Deduct):
Government - 500,000 - - - -
Surplus/(Deficit) for the period - - (1,246,085) 18,250,518 (12,040) 15,588
Dividends - - (32,263) (18,220) - -
Other Adjustments - - 8 (1,428) - -
Ending Balance 5,961,899 5,961,899 112,189,376 113,467,716 786,926 798,966
REVALUATION SURPLUS
Adjustments: - - - 18,214 - -
Add/(Deduct):
Other Adjustments - - - 18,214 - -

Add/(Deduct):
the Year - - - - - -
Ending Balance - - 6,244,821 6,244,821 - -
Beginning balance (5,149,072) (5,020,748) - - - -
Adjustments: - 2,769 - - - -
Add/(Deduct):
Changes in Accounting Policy - (4) - - - -
Restated Balance (5,149,072) (5,017,979) - - - -

Add/(Deduct):
Net Income/Loss for the Year (154,100) (131,093) - - - -
Dividends - -
Other Adjustments (15,065) - - - - -
Ending Balance (5,318,237) (5,149,072) - - - -
Add/(Deduct):

OF INVESTMENTS
Beginning balance (47,333) (39,557) - - - -
Add/(Deduct):
Restated Balance (47,333) (39,557) - - - -
553
(in thousand pesos)
TIDCORP Non-GBE ECC

2018 2017 2018 2017 2018 2017

Add/(Deduct):
sale securities (31,586) (7,776) - - - -
Ending Balance (78,918) (47,333) - - - -
MEMBER'S EQUITY
Add/(Deduct):
Total Equity 564,744 765,495 118,434,197 119,712,538 786,926 798,966
554
(in thousand pesos)
NHA
2018 2017
GOVERNMENT EQUITY
Adjustments: - 249,912
Add/(Deduct):
Prior Period Errors - 249,912
Changes in Equity for the Year (1,266,300) 18,215,282

Add/(Deduct):
Government - -
Surplus/(Deficit) for the period (1,234,045) 18,234,929
Dividends (32,263) (18,220)
Other Adjustments 8 (1,428)
Ending Balance 111,402,451 112,668,751
REVALUATION SURPLUS
Adjustments: - 18,214
Add/(Deduct):
Other Adjustments - 18,214

Add/(Deduct):
the Year - -
Ending Balance 6,244,821 6,244,821
Adjustments: - -
Add/(Deduct):

Add/(Deduct):
Net Income/Loss for the Year - -
Dividends
Ending Balance - -
Add/(Deduct):
Government - -
Ending Balance - -

OF INVESTMENTS
Adjustments: - -
Add/(Deduct):
555
(in thousand pesos)
NHA
2018 2017

Add/(Deduct):
sale securities - -
Ending Balance - -
MEMBER'S EQUITY
Add/(Deduct):
Member's Contribution - -
Dividends - -
Ending Balance - -
Total Equity 117,647,272 118,913,572
556
(in thousand pesos)
Total GBE APO

2018 2017 2018 2017 2018 2017
GOVERNMENT EQUITY
Adjustments: - 53,897,520 - (16,116) - -
Add/(Deduct):
Changes in Accounting Policy - 50,074,421 - (17,534) - -
Prior Period Errors - 16,850,447 - (2,737) - -
Other Adjustments - (13,027,348) - 4,155 - -
Changes in Equity for the Year (86,105,966) (7,558,073) 218,599 157,120 - -

Add/(Deduct):
Government 203,612 112,534 116,888 70,432 - -
Surplus/(Deficit) for the period (8,866,438) 937,001 - - - -
Dividends (1,450,924) (1,709,618) - - - -
Other Adjustments (75,992,215) (6,897,991) 101,711 86,688 - -
Ending Balance 150,091,963 236,197,929 19,800,808 19,582,209 - -
REVALUATION SURPLUS
Adjustments: - (108,303,507) - - - -
Add/(Deduct):

Add/(Deduct):
Other Adjustments 1,532,782 5,047,489 1,532,782 6,217,460 - -
Ending Balance 90,928,706 89,395,924 90,928,706 89,395,924 2,908 2,908
Adjustments: - 18,245 - 18,245 - -
Add/(Deduct):
Prior Period Errors - (18,400) - (18,400) - -
Add/(Deduct):
Net Income/Loss for the
Year 13,731,654 11,823,849 13,731,654 11,823,849 223,364 143,570
Dividends (4,492,486) (2,999,578) (4,492,486) (2,999,578) (63,776) (29,604)
Other Adjustments (2,852,325) 19,977 (2,852,325) 19,977 (1,933) (13,469)
Ending Balance 123,494,298 117,107,454 123,494,298 117,107,454 345,460 187,805
Changes in Equity for the Year 48 - - - - -
Add/(Deduct):
Other Adjustments 48 - - - - -
Ending Balance 38,309,614 38,309,566 5,150,524 5,150,524 - -

Beginning balance (1,220) 13,341 (1,220) 13,341 - -
Changes in Equity for the Year 24,892 (14,561) 24,892 (14,561) - -
Add/(Deduct):
the Year 24,892 (14,561) 24,892 (14,561) - -
Ending Balance 23,672 (1,220) 23,672 (1,220) - -
557
(in thousand pesos)
Total GBE APO

2018 2017 2018 2017 2018 2017

OF INVESTMENTS
Beginning balance 42,384,894 42,381,562 17,489 14,157 - -
Changes in Equity for the Year 10,440 3,332 10,440 3,332 - -
Add/(Deduct):
securities 10,440 3,332 10,440 3,332 - -
Ending Balance 42,395,334 42,384,894 27,929 17,489 - -
Total Equity 445,243,587 523,394,547 239,425,938 231,252,381 348,369 190,713
558
(in thousand pesos)

2018 2017 2018 2017 2018 2017
GOVERNMENT EQUITY
Add/(Deduct):

Add/(Deduct):
Ending Balance 4,159,926 4,159,926 3,114,596 3,114,596 - -
REVALUATION SURPLUS
Beginning balance - - 9,181,439 9,295,927 707,688 707,688
Add/(Deduct):
Restated Balance - - 9,181,439 9,295,927 707,688 707,688
Changes in Equity for the Year - - - (114,487) - -

Add/(Deduct):
Ending Balance - - 9,181,439 9,181,439 707,688 707,688
Add/(Deduct):
Changes in Equity for the Year 388,040 333,403 (939,987) 178,106 37,264 50,387
Add/(Deduct):
Year 818,187 685,451 615,671 289,232 59,831 48,039
Dividends (412,074) (344,996) (306,505) (148,028) - -
Other Adjustments (18,072) (7,052) (1,249,154) 36,903 (22,567) 2,348
Ending Balance 2,570,972 2,182,931 23,875,857 24,815,844 252,322 215,059
Add/(Deduct):
Ending Balance - - - - 2,400,000 2,400,000

Add/(Deduct):
the Year - - - - - -
559
(in thousand pesos)

2018 2017 2018 2017 2018 2017

OF INVESTMENTS
Beginning balance - - (866) (1,006) - -
Changes in Equity for the Year - - (2,350) 140 - -
Add/(Deduct):
securities - - (2,350) 140 - -
Ending Balance - - (3,216) (866) - -
Total Equity 6,730,898 6,342,857 36,168,675 37,111,013 3,360,010 3,322,746
560
(in thousand pesos)

2018 2017 2018 2017 2018 2017
GOVERNMENT EQUITY
Add/(Deduct):

Add/(Deduct):
REVALUATION SURPLUS
Beginning balance 152,576 152,576 - - 252,215 252,215
Add/(Deduct):
Restated Balance 152,576 152,576 - - 252,215 252,215

Add/(Deduct):
Ending Balance 152,576 152,576 - - 252,215 252,215
Beginning balance 444,314 401,200 11,362,918 10,773,701 277,325 325,549
Add/(Deduct):
Restated Balance 444,314 401,200 11,362,918 10,773,701 277,325 325,549
Changes in Equity for the Year 48,191 43,115 761,267 589,217 (40,092) (48,224)
Add/(Deduct):
Year 46,575 31,973 1,368,074 1,109,738 (53,758) (48,193)
Dividends - - (606,807) (520,521) - -
Other Adjustments 1,616 11,141 - - 13,666 (31)
Ending Balance 492,506 444,314 12,124,185 11,362,918 237,233 277,325
Add/(Deduct):
Ending Balance 72,301 72,301 2,113,251 2,113,251 374,972 374,972

Beginning balance - - (1,220) 13,341 - -
Changes in Equity for the Year - - 24,892 (14,561) - -
Add/(Deduct):
the Year - - 24,892 (14,561) - -
Ending Balance - - 23,672 (1,220) - -
561
(in thousand pesos)

2018 2017 2018 2017 2018 2017

OF INVESTMENTS
Beginning balance - - (190) (232) - -
Changes in Equity for the Year - - 190 42 - -
Add/(Deduct):
securities - - 190 42 - -
Ending Balance - - - (190) - -
Total Equity 717,382 669,191 14,261,108 13,474,760 864,420 904,513
562
(in thousand pesos)

2018 2017 2018 2017 2018 2017
(Restated)
GOVERNMENT EQUITY
Add/(Deduct):
Changes in Equity for the Year - - 14,451 67,585 - -

Add/(Deduct):
Other Adjustments - - 14,451 67,585 - -
Ending Balance - - 6,461,024 6,446,574 95,727 95,727
REVALUATION SURPLUS
Add/(Deduct):
Changes in Equity for the Year - - (10,350) 6,239,228 - -

Add/(Deduct):
Other Adjustments - - (10,350) 6,239,228 - -
Ending Balance - - 78,776,530 78,786,879 - -
Beginning balance (1,539,710) (1,241,123) 35,855,327 32,940,500 212,369 196,785
Add/(Deduct):
Restated Balance (1,539,710) (1,241,123) 35,855,327 32,940,500 212,369 196,785
Changes in Equity for the Year (1,003) (298,587) 1,577,550 2,914,827 (39,376) 15,585
Add/(Deduct):
Year (798) (315,074) 5,553,831 4,473,463 2,714 15,281
Dividends - - (3,103,323) (1,956,429) - -
Other Adjustments (205) 16,487 (872,958) 397,793 (42,090) 303
Ending Balance (1,540,713) (1,539,710) 37,432,877 35,855,327 172,993 212,369
Add/(Deduct):
Ending Balance 190,000 190,000 - - - -

Add/(Deduct):
the Year - - - - - -
563
(in thousand pesos)

2018 2017 2018 2017 2018 2017
(Restated)

OF INVESTMENTS
Changes in Equity for the Year 12,600 3,150 - - - -
Add/(Deduct):
securities 12,600 3,150 - - - -
Ending Balance 31,145 18,545 - - - -
Total Equity (1,319,568) (1,331,165) 122,670,431 121,088,780 268,720 308,097
564
(in thousand pesos)

2018 2017 2018 2017 2018 2017
GOVERNMENT EQUITY
Beginning balance 5,765,387 5,691,968 216,615,720 170,417,278 (34,087) 3,183,681
Adjustments: - (16,116) - 53,913,635 - -
Add/(Deduct):
Changes in Accounting Policy - (17,534) - 50,091,955 - -
Prior Period Errors - (2,737) - 16,853,183 - -
Other Adjustments - 4,155 - (13,031,504) - -
Restated Balance 5,765,387 5,675,852 216,615,720 224,330,913 (34,087) 3,183,681
Changes in Equity for the Year 204,148 89,535 (86,324,565) (7,715,193) (6,002,075) (3,217,768)
Add/(Deduct):
Government 116,888 70,432 86,724 42,102 6,932 138
Surplus/(Deficit) for the period - - (8,866,438) 937,001 (4,269,525) (2,707,363)
Dividends - - (1,450,924) (1,709,618) - -
Other Adjustments 87,261 19,102 (76,093,927) (6,984,679) (1,739,482) (510,542)
Ending Balance 5,969,535 5,765,387 130,291,155 216,615,720 (6,036,162) (34,087)
REVALUATION SURPLUS
Beginning balance 312,218 219,499 - 109,473,477 - -
Adjustments: - - - (108,303,507) - -
Add/(Deduct):
Changes in Accounting Policy - - - (98,718,800) - -
Prior Period Errors - - - (3,675,135) - -
Other Adjustments - - - (5,909,572) - -
Restated Balance 312,218 219,499 - 1,169,970 - -
Changes in Equity for the Year 1,543,132 92,719 - (1,169,970) - -

Add/(Deduct):
Other Adjustments 1,543,132 92,719 - (1,169,970) - -
Ending Balance 1,855,351 312,218 - 0 - -
Adjustments: - 18,245 - - - -
Add/(Deduct):
Changes in Accounting Policy - 45,289 - - - -
Prior Period Errors - (18,400) - - - -

Add/(Deduct):
Year 5,097,963 5,390,369 - - - -
Other Adjustments (660,628) (424,447) - - - -
Ending Balance 47,530,606 43,093,271 - - - -
Changes in Equity for the Year - - 48 - - -
Add/(Deduct):
Other Adjustments - - 48 - - -
Ending Balance - - 33,159,089 33,159,041 - -

Add/(Deduct):
the Year - - - - - -
565
(in thousand pesos)

2018 2017 2018 2017 2018 2017

OF INVESTMENTS
Add/(Deduct):
Ending Balance - - 42,367,405 42,367,405 - -
Total Equity 55,355,492 49,170,876 205,817,649 292,142,166 (6,036,162) (34,087)
566
(in thousand pesos)
LWUA MWSS NEA

2018 2017 2018 2017 2018 2017
GOVERNMENT EQUITY
Beginning balance 7,924,415 8,058,938 39,216,155 10,478,627 (4,735,350) (4,994,718)
Adjustments: - - - 28,502,259 - 176,708
Add/(Deduct):
Prior Period Errors - - - 28,508,638 - 176,708
Restated Balance 7,924,415 8,058,938 39,216,155 38,980,886 (4,735,350) (4,818,010)
Changes in Equity for the Year 1,914,042 (134,524) (392,546) 235,268 6,187,038 82,659
Add/(Deduct):
Government 79,792 41,964 - - - -
Surplus/(Deficit) for the period (38,740) (233,205) 508,478 795,036 (1,768,055) 152,648
Dividends 300,529 319,076 (254,239) (559,768) (86,905) (69,989)
Other Adjustments 1,572,461 (262,358) (646,785) - 8,041,997 -
Ending Balance 9,838,457 7,924,415 38,823,608 39,216,155 1,451,687 (4,735,350)
REVALUATION SURPLUS
Add/(Deduct):

Add/(Deduct):
Add/(Deduct):

Add/(Deduct):
Year - - - - - -
Add/(Deduct):
Ending Balance - - 6,095,487 6,095,487 - -

Add/(Deduct):
the Year - - - - - -
567
(in thousand pesos)
LWUA MWSS NEA

2018 2017 2018 2017 2018 2017

OF INVESTMENTS
Add/(Deduct):
Total Equity 9,838,457 7,924,415 44,919,095 45,311,641 1,451,687 (4,735,350)
568
(in thousand pesos)
NPC PNR PPC

2018 2017 2018 2017 2018 2017
GOVERNMENT EQUITY
Beginning balance 3,007,630 3,359,728 (15,911,873) (15,140,399) 3,310,188 3,273,021
Adjustments: - (2,393) - (7,651) - (537,128)
Add/(Deduct):
Prior Period Errors - - - (7,651) - (537,111)
Other Adjustments - (2,393) - - - (17)
Restated Balance 3,007,630 3,357,335 (15,911,873) (15,148,051) 3,310,188 2,735,893
Changes in Equity for the Year (909,331) (349,705) (604,758) (763,823) 111,668 574,295
Add/(Deduct):
Surplus/(Deficit) for the period 1,726,737 2,212,211 (797,554) (763,823) 603,552 574,295
Dividends (1,410,309) (1,398,936) - - - -
Other Adjustments (1,225,759) (1,162,979) 192,796 - (491,885) -
Ending Balance 2,098,299 3,007,630 (16,516,631) (15,911,873) 3,421,856 3,310,188
REVALUATION SURPLUS
Add/(Deduct):

Add/(Deduct):
Add/(Deduct):

Add/(Deduct):
Year - - - - - -
Changes in Equity for the Year 48 - - - - -
Add/(Deduct):
Other Adjustments 48 - - - - -
Ending Balance 27,063,602 27,063,554 - - - -

Add/(Deduct):
the Year - - - - - -
569
(in thousand pesos)
NPC PNR PPC

2018 2017 2018 2017 2018 2017

OF INVESTMENTS
Beginning balance - - 40,371,036 40,371,036 1,996,369 1,996,369
Add/(Deduct):
Ending Balance - - 40,371,036 40,371,036 1,996,369 1,996,369
Total Equity 29,161,901 30,071,185 23,854,405 24,459,163 5,418,224 5,306,557
570
(in thousand pesos)
PSALM TRANSCO
2018 2017 2018 2017
(Restated)
GOVERNMENT EQUITY
Beginning balance 31,754,532 59,211,222 152,084,111 102,987,178
Adjustments: - (24,310,115) - 50,091,955
Add/(Deduct):
Changes in Accounting Policy - - - 50,091,955
Prior Period Errors - (11,287,401) - -
Other Adjustments - (13,022,715) - -
Restated Balance 31,754,532 34,901,107 152,084,111 153,079,133
Changes in Equity for the Year (83,940,210) (3,146,574) (2,688,391) (995,023)

Add/(Deduct):
Government - - - -
Surplus/(Deficit) for the period (9,756,715) (4,316,544) 4,925,384 5,223,746
Dividends - - - -
Other Adjustments (74,183,495) 1,169,970 (7,613,775) (6,218,769)
Ending Balance (52,185,678) 31,754,532 149,395,719 152,084,111
REVALUATION SURPLUS
Beginning balance - 10,754,677 - 98,718,800
Adjustments: - (9,584,707) - (98,718,800)
Add/(Deduct):
Changes in Accounting Policy - - - (98,718,800)
Prior Period Errors - (3,675,135) - -
Restated Balance - 1,169,970 - -
Changes in Equity for the Year - (1,169,970) - -

Add/(Deduct):
Ending Balance - 0 - -
Beginning balance - - - -
Adjustments: - - - -
Add/(Deduct):
Changes in Accounting Policy - - - -
Prior Period Errors - - - -
Other Adjustments - - - -
Restated Balance - - - -
Changes in Equity for the Year - - - -

Add/(Deduct):
Year - - - -
Dividends - - - -
Ending Balance - - - -
Add/(Deduct):

Add/(Deduct):
the Year - - - -
571
(in thousand pesos)
PSALM TRANSCO
2018 2017 2018 2017
(Restated)

OF INVESTMENTS
Add/(Deduct):
securities - - - -
Total Equity (52,185,678) 31,754,532 149,395,719 152,084,111
572
Fro the year ended December 31, 2018
(in thousand pesos)

2018 2017 2018 2017 2018 2017
GOVERNMENT EQUITY
Adjustments: - (10,533,339) - (10,533,339) - -
Add/(Deduct):
Changes in Equity for the Year 2,330,312 2,007,405 308,848 56,298 114,645 -
Add/(Deduct):
Government 308,789 116,761 308,789 50,949 114,645 -
Surplus/(Deficit) for the period 2,075,945 1,939,147 - - - -
Dividends (45,137) (41,836) - - - -
Other Adjustments (9,285) (6,666) 59 5,349 - -
Ending Balance 144,564,179 142,233,868 124,315,386 124,006,538 1,576,038 1,461,393
REVALUATION SURPLUS
Beginning balance 6,053,043 783,611 6,053,043 783,611 - -
Add/(Deduct):
the Year - (74,872) - (74,872) - -
Other Adjustments 53,229,001 5,344,304 53,229,001 5,344,304 - -
Ending Balance 59,282,045 6,053,043 59,282,045 6,053,043 - -
Adjustments: - 462,306 - 462,306 - -
Add/(Deduct):
Prior Period Errors - 1,061,924 - 1,061,924 - -
Add/(Deduct):
Net Income/Loss for the Year 32,694,278 15,573,181 32,694,278 15,573,181 145,776 151,465
Dividends (9,860,059) (8,654,136) (9,860,059) (8,654,136) (74,134) (29,111)
Other Adjustments 1,100,455 199,207 1,100,455 199,207 (6,795) (677)
Ending Balance 87,888,016 63,953,343 87,888,016 63,953,343 230,163 165,315
Changes in Equity for the Year 116,595 24,990,465 116,595 24,990,463 - -
Add/(Deduct):
Issuances of Share Capital 116,595 358,415 116,595 358,415 - -
Dividends - (40,000) - (40,000) - -
Other Adjustments - 24,672,050 - 24,672,048 - -
Ending Balance 128,257,495 128,140,900 127,916,330 127,799,735 - -

OF INVESTMENTS
Add/(Deduct):
securities 70,187 1,438 70,187 1,438 - -
Ending Balance 100,509 30,321 100,509 30,321 - -
Total Equity 420,092,244 340,411,475 399,502,285 321,842,980 1,806,201 1,626,708
573
(in thousand pesos)

2018 2017 2018 2017 2018 2017
GOVERNMENT EQUITY
Add/(Deduct):

Add/(Deduct):
REVALUATION SURPLUS
Beginning balance 5,505,449 - - - - -
Add/(Deduct):
the Year - - - - - -
Ending Balance 6,956,428 5,505,449 - - - -
Beginning balance 15,900,445 15,056,537 14,091 8,939 1,386,976 922,627
Adjustments: - - - 2,636 - -
Add/(Deduct):
Changes in Accounting Policy - - - 2,276 - -
Other Adjustments - - - 360 - -
Restated Balance 15,900,445 15,056,537 14,091 11,575 1,386,976 922,627
Changes in Equity for the Year 19,002,274 843,908 4,592 2,517 787,558 464,350
Add/(Deduct):
Net Income/Loss for the Year 19,908,017 1,083,521 4,592 2,517 1,354,924 1,032,603
Dividends (905,743) (130,025) - - (700,000) (500,000)
Other Adjustments - (109,589) - - 132,634 (68,254)
Ending Balance 34,902,719 15,900,445 18,683 14,091 2,174,534 1,386,976
Changes in Equity for the Year - 24,672,048 - - - -
Add/(Deduct):
Other Adjustments - 24,672,048 - - - -
Ending Balance 100,000,000 100,000,000 280,000 280,000 2,813,507 2,813,507

OF INVESTMENTS
Beginning balance - 109,589 - - - -
Changes in Equity for the Year 62,687 (109,589) - - - -
Add/(Deduct):
securities 62,687 - - - - -
Ending Balance 62,687 - - - - -
Total Equity 141,921,833 121,405,894 298,683 294,091 4,988,042 4,200,484
574
(in thousand pesos)

2018 2017 2018 2017 2018 2017
GOVERNMENT EQUITY
Add/(Deduct):

Add/(Deduct):
REVALUATION SURPLUS
Add/(Deduct):
the Year - - - - - -
Beginning balance (606,173) (803,672) (203,625) (225,331) (1,438,045) (1,027,120)
Add/(Deduct):
Restated Balance (606,173) (803,672) (203,625) (225,331) (1,438,045) (1,027,120)
Changes in Equity for the Year 281,245 197,499 8,242 21,706 (6,007,779) (410,925)
Add/(Deduct):
Net Income/Loss for the Year 319,112 177,175 10,512 15,253 (6,007,779) (410,925)
Other Adjustments (37,867) 20,324 (2,271) 6,453 - -
Ending Balance (324,928) (606,173) (195,383) (203,625) (7,445,823) (1,438,045)
Beginning balance 1,211,766 853,351 383,814 383,814 100,000 100,000
Changes in Equity for the Year 116,595 358,415 - - - -
Add/(Deduct):
Issuances of Share Capital 116,595 358,415 - - - -
Ending Balance 1,328,361 1,211,766 383,814 383,814 100,000 100,000

OF INVESTMENTS
Add/(Deduct):
Total Equity 1,003,433 605,593 188,431 180,189 (7,345,823) (1,338,045)
575
(in thousand pesos)

2018 2017 2018 2017 2018 2017
(Restated)
GOVERNMENT EQUITY
Adjustments: - - - (10,533,339) - -
Add/(Deduct):
Prior Period Errors - - - (10,533,339) - -

Add/(Deduct):
Ending Balance - - 75,978,768 75,978,768 - -
REVALUATION SURPLUS
Add/(Deduct):
the Year - - - - - -
Beginning balance 6,603 (411) (8,156,894) (7,779,137) 833,845 969,044
Adjustments: - (4,520) - 38,902 - -
Add/(Deduct):
Prior Period Errors - - - 38,902 - -
Other Adjustments - (4,520) - - -
Restated Balance 6,603 (4,931) (8,156,894) (7,740,235) 833,845 969,044
Changes in Equity for the Year 9,914 11,535 (754,928) (416,659) 150,494 (135,198)
Add/(Deduct):
Net Income/Loss for the Year 16,827 11,535 2,470,041 1,537,810 294,964 (64,925)
Dividends - - (3,224,969) (2,080,156) (144,639) -
Other Adjustments (6,912) - - 125,688 169 (70,273)
Ending Balance 16,518 6,603 (8,911,822) (8,156,894) 984,340 833,845
Beginning balance 83,144 83,144 - - 5,755,142 5,755,142
Add/(Deduct):
Ending Balance 83,144 83,144 - - 5,755,142 5,755,142

OF INVESTMENTS
Add/(Deduct):
securities - - 760 - - -
Ending Balance - - 760 - - -
Total Equity 99,662 89,747 67,067,706 67,821,874 6,739,481 6,588,987
576
(in thousand pesos)

2018 2017 2018 2017 2018 2017
GOVERNMENT EQUITY
Beginning balance - - 4,619,857 4,619,857 15,461,553 15,461,553
Add/(Deduct):
Restated Balance - - 4,619,857 4,619,857 15,461,553 15,461,553

Add/(Deduct):
Ending Balance - - 4,619,857 4,619,857 15,461,553 15,461,553
REVALUATION SURPLUS
Changes in Equity for the Year - - 51,778,022 - - -
Add/(Deduct):
the Year - - - - - -
Other Adjustments - - 51,778,022 - - -
Ending Balance - - 51,778,022 - - -
Beginning balance (171) (366) 7,542,978 7,511,587 28,707,306 27,526,723
Add/(Deduct):
Restated Balance (171) (366) 7,542,978 7,511,587 28,707,306 27,526,723
Changes in Equity for the Year 184 194 282,821 31,392 3,455,022 1,180,582
Add/(Deduct):
Net Income/Loss for the Year 184 194 558,291 441,353 6,891,173 3,699,827
Dividends - - (279,145) (391,080) (3,423,663) (2,318,326)
Other Adjustments - - 3,675 (18,881) (12,488) (200,920)
Ending Balance 12 (171) 7,825,799 7,542,978 32,162,328 28,707,306
Add/(Deduct):
Ending Balance 40,000 40,000 - - - -

OF INVESTMENTS
Add/(Deduct):
Total Equity 40,012 39,829 64,223,678 12,162,836 47,623,881 44,168,858
577
(in thousand pesos)
MRHI NDC BLCI

2018 2017 2018 2017 2018 2017
GOVERNMENT EQUITY
Add/(Deduct):
Restated Balance 7,233 7,526 - - - -
Changes in Equity for the Year 59 (293) - - - -

Add/(Deduct):
Other Adjustments 59 (293) - - - -
Ending Balance 7,291 7,233 - - - -
REVALUATION SURPLUS
Add/(Deduct):
the Year - - - - - -
Ending Balance 22,050 22,050 - - - -
Adjustments: - (61) - - - -
Add/(Deduct):
Changes in Accounting Policy - (354) - - - -
Prior Period Errors - 293 - - - -
Restated Balance 10,751 10,433 3,619,648 1,550,658 8,417 8,723
Changes in Equity for the Year 1,556 318 3,342,729 2,068,990 (284) (306)
Add/(Deduct):
Net Income/Loss for the Year 1,871 318 3,503,321 2,354,885 8,133 8,417
Dividends - - (160,592) (421,309) (8,417) (8,723)
Other Adjustments (315) - - 135,414 - -
Ending Balance 12,307 10,751 6,962,377 3,619,648 8,133 8,417
Add/(Deduct):
Ending Balance - - 8,602,803 8,602,803 36,623 36,623

OF INVESTMENTS
Beginning balance - - 30,321 28,883 - -
Changes in Equity for the Year - - 6,701 1,438 - -
Add/(Deduct):
securities - - 6,701 1,438 - -
Ending Balance - - 37,022 30,321 - -
Total Equity 41,649 40,034 15,602,203 12,252,773 44,756 45,040
578
(in thousand pesos)
FCIEI GYREI IIGSI

2018 2017 2018 2017 2018 2017
GOVERNMENT EQUITY
Add/(Deduct):

Add/(Deduct):
REVALUATION SURPLUS
Add/(Deduct):
the Year - - - - - -
Ending Balance - - - - 18,407 18,407
Beginning balance (17,118) (16,751) 50,992 75,664 (80,053) (79,688)
Add/(Deduct):
Restated Balance (17,118) (16,751) 50,992 75,664 (80,053) (79,688)
Changes in Equity for the Year (1,006) (367) (27,287) (24,673) (375) (365)
Add/(Deduct):
Net Income/Loss for the Year (1,006) (367) (9,647) (6,607) (375) (365)
Dividends - - (17,640) (18,066) - -
Ending Balance (18,123) (17,118) 23,705 50,992 (80,429) (80,053)
Add/(Deduct):
Ending Balance 10,000 10,000 9,086 9,086 4,301 4,301

OF INVESTMENTS
Add/(Deduct):
Total Equity (8,123) (7,118) 32,791 60,078 (57,721) (57,345)
579
(in thousand pesos)
KRC MGC NPIC

2018 2017 2018 2017 2018 2017
GOVERNMENT EQUITY
Add/(Deduct):

Add/(Deduct):
REVALUATION SURPLUS
Beginning balance - - - 158,375 - -
Add/(Deduct):
the Year - - - - -
Beginning balance 29,399 8,434 48,940 (12,817) (29,122) (29,392)
Add/(Deduct):
Restated Balance 29,399 8,434 48,940 (12,817) (29,122) (29,392)
Changes in Equity for the Year (19,077) 20,966 (957) 61,757 67 270
Add/(Deduct):
Net Income/Loss for the Year 5,848 24,925 (1,000) (96,371) 613 270
Dividends (24,925) (3,959) - - (546) -
Other Adjustments - - 43 158,128 - -
Ending Balance 10,323 29,399 47,983 48,940 (29,056) (29,122)
Add/(Deduct):
Dividends - - - (40,000) - -
Ending Balance 6,733 6,733 80,000 80,000 80,000 80,000

OF INVESTMENTS
Add/(Deduct):
Total Equity 17,055 36,132 127,983 128,940 50,944 50,878
580
(in thousand pesos)
PRC PADC PEZA

2018 2017 2018 2017 2018 2017
GOVERNMENT EQUITY
Add/(Deduct):

Add/(Deduct):
Ending Balance - - - - 2,136,008 2,136,008
REVALUATION SURPLUS
Add/(Deduct):
the Year - - - - - -
Beginning balance 2,084 2,204 (146,722) (155,696) 4,633,490 3,906,533
Adjustments: - - - 325 - 37,578
Add/(Deduct):
Other Adjustments - - - 325 - 37,578
Restated Balance 2,084 2,204 (146,722) (155,371) 4,633,490 3,944,111
Changes in Equity for the Year (178) (120) 12,359 8,650 733,690 689,379
Add/(Deduct):
Net Income/Loss for the Year 997 1,026 17,031 8,650 1,411,203 1,312,293
Dividends (1,175) (1,147) (4,325) - (677,513) (622,914)
Other Adjustments - - (347) - - -
Ending Balance 1,906 2,084 (134,363) (146,722) 5,367,180 4,633,490
Add/(Deduct):
Ending Balance 2,252 2,252 257,667 257,667 - -

OF INVESTMENTS
Add/(Deduct):
Total Equity 4,158 4,336 123,305 110,946 7,503,187 6,769,498
581
(in thousand pesos)

2018 2017 2018 2017 2018 2017
(Restated)
GOVERNMENT EQUITY
Add/(Deduct):

Add/(Deduct):
Ending Balance 200,000 200,000 - - - -
REVALUATION SURPLUS
Add/(Deduct):
the Year - - - (76,559) - -
Ending Balance - - 454,865 454,865 - -
Beginning balance 659,379 1,157,989 (4,441,919) (7,321,202) (1,011) 4,172
Adjustments: - (625,258) - - - (3,513)
Add/(Deduct):
Prior Period Errors - 10,024 - - - (3,513)
Restated Balance 659,379 532,731 (4,441,919) (7,321,202) (1,011) 659
Changes in Equity for the Year 157,817 126,648 (88,404) 2,879,282 (209) (1,670)
Add/(Deduct):
Net Income/Loss for the Year 147,437 126,648 (83,770) 2,879,343 1,293 1,502
Dividends - - - - (1,502) (3,172)
Other Adjustments 10,380 - (4,635) (60) - -
Ending Balance 817,195 659,379 (4,530,324) (4,441,919) (1,221) (1,011)
Add/(Deduct):
Ending Balance - - 7,808,763 7,808,763 120,000 120,000

OF INVESTMENTS
Add/(Deduct):
securities - - 40 - - -
Ending Balance - - 40 - - -
Total Equity 1,017,195 859,379 3,733,344 3,821,708 118,779 118,989
582
(in thousand pesos)

2018 2017 2018 2017 2018 2017
GOVERNMENT EQUITY
Add/(Deduct):

Add/(Deduct):
Ending Balance - - - - 3,248,276 3,248,276
REVALUATION SURPLUS
Changes in Equity for the Year - 1,688 - - - -
Add/(Deduct):
the Year - 1,688 - - - -
Ending Balance 20,506 20,506 - - - -
Beginning balance (47,677) (47,145) (40,914) (40,716) 17,749,114 17,127,716
Adjustments: - - - - - 1,016,218
Add/(Deduct):
Prior Period Errors - - - - - 1,016,218
Restated Balance (47,677) (47,145) (40,914) (40,716) 17,749,114 18,143,934
Changes in Equity for the Year 128 (533) 131 (199) 55,777 (394,820)
Add/(Deduct):
Net Income/Loss for the Year 128 (533) 131 (199) 266,910 371,589
Dividends - - - - (211,132) (766,409)
Ending Balance (47,549) (47,677) (40,783) (40,914) 17,804,891 17,749,114
Add/(Deduct):
Ending Balance 15,120 15,120 97,014 97,014 - -

OF INVESTMENTS
Add/(Deduct):
Total Equity (11,924) (12,052) 56,230 56,099 21,053,167 20,997,390
583
(in thousand pesos)

2018 2017 2018 2017 2018 2017
GOVERNMENT EQUITY
Add/(Deduct):
Changes in Equity for the Year - - 57,185 5,642 136,960 50,949

Add/(Deduct):
Government - - 57,185 - 136,960 50,949
Ending Balance - - 20,043,566 19,986,382 1,044,028 907,069
REVALUATION SURPLUS
Add/(Deduct):
the Year - - - - - -
Ending Balance - - 31,767 31,767 - -
Beginning balance 2,271 2,264 (1,943,865) (1,713,821) (265,392) (267,897)
Add/(Deduct):
Restated Balance 2,271 2,264 (1,943,865) (1,713,821) (265,392) (267,897)
Changes in Equity for the Year 3 6 2,476,748 (230,044) 6,960 2,505

Add/(Deduct):
Net Income/Loss for the Year 3 6 1,449,519 907,877 9,006 2,470
Dividends - - - (1,359,740) - -
Other Adjustments - - 1,027,228 221,819 (2,046) 35
Ending Balance 2,274 2,271 532,882 (1,943,865) (258,432) (265,392)
Add/(Deduct):
Ending Balance 2,000 2,000 - - - -

OF INVESTMENTS
Add/(Deduct):
Total Equity 4,274 4,271 20,608,216 18,074,284 785,596 641,677
584
(in thousand pesos)
Non-GBE APECO LLDA

2018 2017 2018 2017 2018 2017
GOVERNMENT EQUITY
Beginning balance 18,227,330 16,276,223 1,008,084 942,477 240,991 247,272
Add/(Deduct):
Restated Balance 18,227,330 16,276,223 1,008,084 942,477 240,991 247,272
Changes in Equity for the Year 2,021,464 1,951,107 15,807 65,607 (30,073) (6,281)
Add/(Deduct):
Government - 65,811 - 65,811 - -
Surplus/(Deficit) for the period 2,075,945 1,939,147 21,772 384 15,064 35,556
Dividends (45,137) (41,836) - - (45,137) (41,836)
Other Adjustments (9,344) (12,015) (5,964) (588) - -
Ending Balance 20,248,793 18,227,330 1,023,891 1,008,084 210,918 240,991
REVALUATION SURPLUS
Add/(Deduct):
the Year - - - - - -
Add/(Deduct):

Add/(Deduct):
Net Income/Loss for the Year - - - - - -
Beginning balance 341,165 341,163 - - 330,315 330,313
Changes in Equity for the Year - 2 - - - 2
Add/(Deduct):
Other Adjustments - 2 - - - 2
Ending Balance 341,165 341,165 - - 330,315 330,315

OF INVESTMENTS
Add/(Deduct):
Total Equity 20,589,959 18,568,495 1,023,891 1,008,084 541,233 571,306
585
(in thousand pesos)

2018 2017 2018 2017 2018 2017
GOVERNMENT EQUITY
Beginning balance (665,152) (663,485) 2,519 951 111,167 117,212
Add/(Deduct):
Restated Balance (665,152) (663,485) 2,519 951 111,167 117,212
Changes in Equity for the Year (2,876) (1,666) (45) 1,569 1,852 (6,045)
Add/(Deduct):
Surplus/(Deficit) for the period 5,095 2,336 82 1,729 4,563 (1,780)
Other Adjustments (7,971) (4,003) (127) (160) (2,710) (4,265)
Ending Balance (668,027) (665,152) 2,474 2,519 113,019 111,167
REVALUATION SURPLUS
Add/(Deduct):
the Year - - - - - -
Add/(Deduct):

Add/(Deduct):
Add/(Deduct):

OF INVESTMENTS
Add/(Deduct):
Total Equity (668,027) (665,152) 2,474 2,519 113,019 111,167
586
(in thousand pesos)
TIEZA CFI
2018 2017 2018 2017
(Restated)
GOVERNMENT EQUITY
Beginning balance 17,432,776 15,525,278 96,944 106,519
Add/(Deduct):
Restated Balance 17,432,776 15,525,278 96,944 106,519
Changes in Equity for the Year 2,050,092 1,907,499 (13,294) (9,575)

Add/(Deduct):
Government - - - -
Surplus/(Deficit) for the period 2,042,663 1,910,782 (13,294) (9,859)
Dividends - - - -
Other Adjustments 7,429 (3,283) - 284
Ending Balance 19,482,868 17,432,776 83,650 96,944
REVALUATION SURPLUS
Add/(Deduct):
the Year - - - -
Add/(Deduct):
Changes in Accounting Policy - - - -
Restated Balance - - - -

Add/(Deduct):
Net Income/Loss for the Year - - - -
Dividends - - - -
Beginning balance 10,850 10,850 - -
Add/(Deduct):
Issuances of Share Capital - - - -
Dividends - - - -
Ending Balance 10,850 10,850 - -

OF INVESTMENTS
Add/(Deduct):
securities - - - -
Total Equity 19,493,719 17,443,627 83,650 96,944
587
(in thousand pesos)
Total GBE FTI

2018 2017 2018 2017 2018 2017
GOVERNMENT EQUITY
Adjustments: - (1,454,223) - - - -
Add/(Deduct):
Prior Period Errors - 5,206,372 - - - -
Changes in Equity for the Year 26,973,494 28,535,506 28,553 1,416,368 - -

Add/(Deduct):
Government 13,875 - - - - -
Dividends (238,155) (101,664) - - - -
Other Adjustments 2,404,952 7,182,829 28,553 1,416,368 - -
Ending Balance 117,868,142 90,894,648 5,691,286 5,662,733 - -
REVALUATION SURPLUS
Changes in Equity for the Year (134,410) (511,843) (134,410) (511,843) - (511,843)
Add/(Deduct):
Other Adjustments (134,410) (511,843) (134,410) (511,843) - (511,843)
Ending Balance 6,014,268 6,148,678 5,994,413 6,128,823 5,984,408 5,984,408
Beginning balance 123,337 (802,808) 123,337 (802,808) 1,104,492 127,487
Adjustments: - 12,794 - 12,794 - 13,475
Add/(Deduct):
Other Adjustments - 12,794 - 12,794 13,475
Restated Balance 123,337 (790,014) 123,337 (790,014) 1,104,492 140,962
Add/(Deduct):
Net Income/Loss for the Year 766,005 2,456,097 766,005 2,456,097 130,804 1,927,584
Dividends (279,567) (1,208,912) (279,567) (1,208,912) (65,402) (963,792)
Other Adjustments 377 (333,833) 377 (333,833) (220) (262)
Ending Balance 610,152 123,337 610,152 123,337 1,169,674 1,104,492
Ending Balance 884,451 884,451 884,451 884,451 500,000 500,000

OF INVESTMENTS
Beginning balance (1,537) 17,456 (1,537) 17,456 - -
Add/(Deduct):
sale securities 3,321 (18,993) 3,321 (18,993) - -
Ending Balance 1,784 (1,537) 1,784 (1,537) - -
Total Equity 125,378,798 98,049,578 13,182,086 12,797,807 7,654,081 7,588,900
588
(in thousand pesos)
HSDC NRDC PMDC

2018 2017 2018 2017 2018 2017
(Restated)
GOVERNMENT EQUITY
Add/(Deduct):
Restated Balance 1,970,125 1,970,125 159,190 159,190 - -

Add/(Deduct):
Ending Balance 1,970,125 1,970,125 159,190 159,190 - -
REVALUATION SURPLUS
Changes in Equity for the Year - - - - (134,410) -
Add/(Deduct):
Other Adjustments - - - - (134,410) -
Ending Balance - - - - 10,006 144,416
Beginning balance (1,391,604) (1,408,985) (46,801) (21,836) 1,557 25,926
Add/(Deduct):
Restated Balance (1,391,604) (1,408,985) (46,801) (21,836) 1,557 25,926
Changes in Equity for the Year 28,337 17,381 (12,541) (24,965) 65,201 (24,370)
Add/(Deduct):
Net Income/Loss for the Year 24,258 23,676 (693) (34,393) 65,201 (8,084)
Dividends - - - - - (1,247)
Other Adjustments 4,078 (6,295) (11,848) 9,428 - (15,038)
Ending Balance (1,363,267) (1,391,604) (59,342) (46,801) 66,758 1,557
Ending Balance - - - - 125,000 125,000

OF INVESTMENTS
Add/(Deduct):
sale securities - - - - - -
Total Equity 606,858 578,521 99,847 112,388 201,763 270,972
589
(in thousand pesos)
PCIC PFDA PHILSUCOR

2018 2017 2018 2017 2018 2017
GOVERNMENT EQUITY
Beginning balance 1,250,954 1,250,954 2,157,464 741,096 125,000 125,000
Add/(Deduct):
Restated Balance 1,250,954 1,250,954 2,157,464 741,096 125,000 125,000
Changes in Equity for the Year 28,341 - 212 1,416,368 - -

Add/(Deduct):
Other Adjustments 28,341 - 212 1,416,368 - -
Ending Balance 1,279,295 1,250,954 2,157,676 2,157,464 125,000 125,000
REVALUATION SURPLUS
Add/(Deduct):
Beginning balance 119,680 33,604 (788,910) (672,787) 1,124,924 1,113,782
Adjustments: - - - - - (681)
Add/(Deduct):
Other Adjustments - - - - - (681)
Restated Balance 119,680 33,604 (788,910) (672,787) 1,124,924 1,113,101
Changes in Equity for the Year 160,901 86,076 175,177 (116,123) 4,559 11,823
Add/(Deduct):
Net Income/Loss for the Year 321,801 336,998 215,515 185,749 9,118 24,567
Dividends (160,901) (170,769) (48,706) (60,360) (4,559) (12,744)
Other Adjustments - (80,153) 8,368 (241,512) - -
Ending Balance 280,581 119,680 (613,733) (788,910) 1,129,483 1,124,924
Ending Balance 259,451 259,451 - - - -

OF INVESTMENTS
Beginning balance - - - - (1,537) 17,456
Changes in Equity for the Year - - - - 3,321 (18,993)
Add/(Deduct):
sale securities - - - - 3,321 (18,993)
Ending Balance - - - - 1,784 (1,537)
Total Equity 1,819,327 1,630,086 1,543,943 1,368,554 1,256,267 1,248,387
590
(in thousand pesos)
Non-GBE NDA NFA

2017 2016 2018 2017 2018 2017
GOVERNMENT EQUITY
Adjustments: - (1,454,223) - (1,954) - (880,930)
Add/(Deduct):
Prior Period Errors - 5,206,372 - - - 5,614,226
Other Adjustments - (6,660,594) - (1,954) - (6,495,156)
Changes in Equity for the Year 26,944,941 27,119,138 269,996 (73,482) 187,977 (6,428,495)
Add/(Deduct):
Government 13,875 - - - - -
Surplus/(Deficit) for the period 24,792,821 21,454,341 266,813 (25,633) 385,357 (6,428,495)
Dividends (238,155) (101,664) - - - -
Other Adjustments 2,376,400 5,766,461 3,183 (47,849) (197,380) -
Ending Balance 112,176,856 85,231,915 1,460,375 1,190,379 (148,363,902) (148,551,880)
REVALUATION SURPLUS
Add/(Deduct):
Ending Balance 19,855 19,855 - - - -
Add/(Deduct):

Add/(Deduct):

OF INVESTMENTS
Add/(Deduct):
Total Equity 112,196,711 85,251,770 1,460,375 1,190,379 (148,363,902) (148,551,880)
591
(in thousand pesos)
NIA NTA PCA

2018 2017 2018 2017 2018 2017
GOVERNMENT EQUITY
Adjustments: - (122,456) - (41,029) - (332,766)
Add/(Deduct):
Prior Period Errors - - - - - (332,766)
Changes in Equity for the Year 26,628,231 27,529,479 1,493 42,761 (383,018) (568,732)
Add/(Deduct):
Surplus/(Deficit) for the period 24,128,109 27,529,479 (58,645) (19,176) (396,783) (570,314)
Other Adjustments 2,500,122 - 60,138 61,937 13,765 1,583
Ending Balance 257,628,507 231,000,276 385,675 384,181 1,265,463 1,648,480
REVALUATION SURPLUS
Add/(Deduct):
Ending Balance - - - - 19,855 19,855
Add/(Deduct):

Add/(Deduct):

OF INVESTMENTS
Add/(Deduct):
Total Equity 257,628,507 231,000,276 385,675 384,181 1,285,318 1,668,335
592
(in thousand pesos)

2018 2017 2018 2017 2018 2017
(Restated)
GOVERNMENT EQUITY
Beginning balance 1,209,718 1,206,475 (3,935,079) (9,425,446) 2,285,839 1,236,929
Adjustments: - - - - - (75,088)
Add/(Deduct):
Prior Period Errors - - - - - (75,088)
Restated Balance 1,209,718 1,206,475 (3,935,079) (9,425,446) 2,285,839 1,161,841
Changes in Equity for the Year 322,395 3,243 (253,662) 5,490,367 171,528 1,123,998
Add/(Deduct):
Government - - 13,875 - - -
Surplus/(Deficit) for the period 325,823 32,964 (267,537) (290,145) 409,683 1,225,662
Dividends - - - - (238,155) (101,664)
Other Adjustments (3,428) (29,721) - 5,780,512 - -
Ending Balance 1,532,113 1,209,718 (4,188,741) (3,935,079) 2,457,367 2,285,839
REVALUATION SURPLUS
Add/(Deduct):
Add/(Deduct):

Add/(Deduct):

OF INVESTMENTS
Add/(Deduct):
Total Equity 1,532,113 1,209,718 (4,188,741) (3,935,079) 2,457,367 2,285,839
593
(in thousand pesos)
Total GBE IBC 13

2018 2017 2018 2017 2018 2017
GOVERNMENT EQUITY
Adjustments: - 4,854,240 - - - -
Add/(Deduct):
Changes in Accounting Policy - (10,065) - - - -
Other Adjustments - 4,962,008 - - - -
Restated Balance 38,639,913 36,616,666 134,648 134,648 - -

Add/(Deduct):
Government 98,220 - - - - -
securities (1,913) (381,647) - - - -
Other Adjustments 55,199 (82,983) - - - -
Ending Balance 40,819,532 38,639,913 134,648 134,648 - -
REVALUATION SURPLUS
Ending Balance 427,240 427,240 422,186 422,186 422,186 422,186
Adjustments: - (18,422,532) - (18,422,532) - -
Add/(Deduct):
Changes in Accounting Policy - (6,617,939) - (6,617,939) - -
Changes in Equity for the Year 25,890,944 4,818,987 25,890,944 4,818,987 (182,072) 23,371
Add/(Deduct):
Net Income/Loss for the Year 45,449,264 7,232,799 45,449,264 7,232,799 (149,773) (106,632)
Dividends (19,526,020) (2,840,434) (19,526,020) (2,840,434) - -
Other Adjustments (32,299) 426,622 (32,299) 426,622 (32,299) 130,003
Ending Balance 137,499,017 111,608,072 137,499,017 111,608,072 (1,715,287) (1,533,215)
Beginning balance 338,000 338,000 338,000 338,000 500 500
Ending Balance 338,000 338,000 338,000 338,000 500 500

OF INVESTMENTS
Beginning balance (27,789) - (27,789) -
Adjustments: - (15,656) - (15,656) - -
Add/(Deduct):
Restated Balance (27,789) (15,656) (27,789) (15,656) - -
Changes in Equity for the Year (59,891) (12,133) (59,891) (12,133) - -

Add/(Deduct):
securities (59,891) (12,133) (59,891) (12,133) - -
Ending Balance (87,680) (27,789) (87,680) (27,789) - -
Total Equity 178,996,109 150,985,437 138,306,170 112,475,117 (1,292,601) (1,110,529)
594
(in thousand pesos)
PAGCOR PCSO PHIC

2018 2017 2018 2017 2018 2017
GOVERNMENT EQUITY
Add/(Deduct):

Add/(Deduct):
Ending Balance 71,431 71,431 - - - -
REVALUATION SURPLUS
Adjustments: - 406,942 - 3,209,465 - (21,937,255)
Add/(Deduct):
Changes in Accounting Policy - - - 729,958 - (7,243,980)
Prior Period Errors - 406,942 - 79,507 - (14,379,054)
Other Adjustments - - - 2,400,000 - (314,221)
Changes in Equity for the Year 15,319,840 2,649,527 (1,779,695) 1,634,255 11,615,925 294,587
Add/(Deduct):
Net Income/Loss for the Year 31,490,459 5,242,926 1,511,189 1,390,655 11,615,925 237,167
Dividends (16,170,619) (2,593,399) (3,290,884) - - -
Other Adjustments - - - 243,599 - 57,421
Ending Balance 31,809,690 16,489,851 8,323,820 10,103,514 97,143,998 85,528,073

OF INVESTMENTS
Beginning balance (27,789)
Adjustments: - - - (15,656) - -
Add/(Deduct):
Restated Balance - - (27,789) (15,656) - -
Changes in Equity for the Year - - (62,791) (12,133) - -

Add/(Deduct):
securities - - (62,791) (12,133) - -
Ending Balance - - (90,580) (27,789) - -
Total Equity 31,881,121 16,561,281 8,233,240 10,075,725 97,143,998 85,528,073
595
(in thousand pesos)
PITC PPPI PRA

2018 2017 2018 2017 2018 2017
(Restated)
GOVERNMENT EQUITY
Add/(Deduct):
Restated Balance - - - - 63,217 63,217

Add/(Deduct):
Ending Balance - - - - 63,217 63,217
REVALUATION SURPLUS
Beginning balance 71,800 (21,167) (422,859) (389,254) 1,370,909 1,314,707
Adjustments: - - - 2,234 - (103,917)
Add/(Deduct):
Changes in Accounting Policy - - - - - (103,917)
Restated Balance 71,800 (21,167) (422,859) (387,020) 1,370,909 1,210,790
Changes in Equity for the Year 496,398 92,967 (36,663) (35,838) 457,210 160,119
Add/(Deduct):
Net Income/Loss for the Year 560,915 126,245 (36,663) (35,838) 457,210 378,277
Dividends (64,517) (38,150) - - - (208,885)
Other Adjustments - 4,872 - - - (9,273)
Ending Balance 568,198 71,800 (459,521) (422,859) 1,828,119 1,370,909
Ending Balance 300,000 300,000 37,500 37,500 - -

OF INVESTMENTS
Beginning balance
Add/(Deduct):

Add/(Deduct):
securities - - - - 2,900 -
Ending Balance - - - - 2,900 -
Total Equity 868,198 371,800 (422,021) (385,359) 1,894,236 1,434,126
596
(in thousand pesos)
Non-GBE BSoP CCP

2018 2017 2018 2017 2018 2017
GOVERNMENT EQUITY
Beginning balance 38,505,265 31,627,778 4,926,293 277,651 2,362,156 1,710,971
Adjustments: - 4,854,240 - 4,904,376 - 2,428
Add/(Deduct):
Prior Period Errors - (97,703) - (35,795) - 2,428
Changes in Equity for the Year 2,179,619 2,023,247 (17,676) (255,734) 64,881 648,757
Add/(Deduct):
Government 98,220 - - - - -
Surplus/(Deficit) for the period 2,028,112 2,487,877 (15,763) 113,709 64,881 648,757
securities (1,913) (381,647) (1,913) (381,647) - -
Other Adjustments 55,199 (82,983) - 12,204 - -
Ending Balance 40,684,884 38,505,265 4,908,617 4,926,293 2,427,037 2,362,156
REVALUATION SURPLUS
Ending Balance 5,054 5,054 - - - -
Add/(Deduct):

Add/(Deduct):

OF INVESTMENTS
Add/(Deduct):

Add/(Deduct):
Total Equity 40,689,938 38,510,320 4,908,617 4,926,293 2,427,037 2,362,156
597
(in thousand pesos)
CITEM DAP LCP

2018 2017 2018 2017 2018 2017
GOVERNMENT EQUITY
Adjustments: - (26,325) - 26,803 - 28,148
Add/(Deduct):
Changes in Accounting Policy - - - - - (6,718)
Prior Period Errors - (21,438) - 19,783 - 34,867
Other Adjustments - (4,887) - 7,019 - -
Add/(Deduct):
Government - - - - 95,294 -
Surplus/(Deficit) for the period 58,301 31,329 69,822 14,282 24,710 185,388
Other Adjustments 37,503 953 - - (97,972) (2,772)
Ending Balance 557,832 462,028 465,352 395,530 4,565,031 4,542,999
REVALUATION SURPLUS
Ending Balance 5,054 5,054 - - - -
Add/(Deduct):

Add/(Deduct):

OF INVESTMENTS
Beginning balance
Add/(Deduct):

Add/(Deduct):
Total Equity 562,887 467,083 465,352 395,530 4,565,031 4,542,999
598
(in thousand pesos)
NKTI PCED PCMC

2018 2017 2018 2017 2018 2017
(Restated)
GOVERNMENT EQUITY
Adjustments: - 16,357 - - - 980
Add/(Deduct):
Prior Period Errors - - - - - 980
Other Adjustments - 19,704 - - - -
Add/(Deduct):
Other Adjustments - - 52 (2,449) - -
Ending Balance 6,489,106 5,583,169 204,981 197,752 2,420,281 2,216,567
REVALUATION SURPLUS
Add/(Deduct):

Add/(Deduct):

OF INVESTMENTS
Beginning balance
Add/(Deduct):

Add/(Deduct):
Total Equity 6,489,106 5,583,169 204,981 197,752 2,420,281 2,216,567
599
(in thousand pesos)
PHC PIDS PITAHC

2018 2017 2018 2017 2018 2017
GOVERNMENT EQUITY
Beginning balance 3,726,351 3,590,411 712,824 640,124 313,163 342,790
Adjustments: - - - 166 - (19,871)
Add/(Deduct):
Prior Period Errors - - - 166 - (19,871)
Restated Balance 3,726,351 3,590,411 712,824 640,290 313,163 322,919
Changes in Equity for the Year 452,559 135,940 1,452 72,535 (22,075) (9,756)
Add/(Deduct):
Government - - - - 2,926 -
Surplus/(Deficit) for the period 389,824 230,511 1,893 72,366 (25,001) (9,756)
Other Adjustments 62,735 (94,571) (442) 169 - -
Ending Balance 4,178,910 3,726,351 714,276 712,824 291,088 313,163
REVALUATION SURPLUS
Add/(Deduct):

Add/(Deduct):

OF INVESTMENTS
Beginning balance
Add/(Deduct):

Add/(Deduct):
Total Equity 4,178,910 3,726,351 714,276 712,824 291,088 313,163
600
(in thousand pesos)
PTNI TPB VFP

2018 2017 2018 2017 2018 2017
GOVERNMENT EQUITY
Adjustments: - (78,823) - - - -
Add/(Deduct):
Add/(Deduct):
Other Adjustments 53,223 - - - 101 3,485
Ending Balance 2,053,117 1,876,072 337,417 307,571 11,071,841 10,882,791
REVALUATION SURPLUS
Add/(Deduct):

Add/(Deduct):

OF INVESTMENTS
Beginning balance
Add/(Deduct):

Add/(Deduct):
Total Equity 2,053,117 1,876,072 337,417 307,571 11,071,841 10,882,791
601
STATEMENT OF
CASH FLOWS
Statement of Cash Flows
(in thousand pesos)
BSP (includes PICCI

Total GBE
accounts)
2018 2017 2018 2017 2018 2017
Cash Inflows
Receipt of Assistance/Subsidy 67,971 47,574 - - - -
Collection of Receivables 215,310,750 218,499,272 215,310,750 218,499,272 - -
Trust Receipts 230,905,821 189,840,945 230,905,821 189,840,945 - -
Other Receipts 303,232,633 195,406,617 303,230,468 195,405,022 82,129,235 10,091,805
Adjustments 2,520,889 1,297,992 2,520,889 1,297,992 - -
Cash Outflows
Purchase of Inventories 128,274 86,367 128,274 86,367 - -
Grant of Cash Advances 217,378 166,889 209,695 161,102 - -
Prepayments 18,444 28,211 18,444 28,211 - -
Refund of Deposits 1,793,023 1,371,999 1,793,023 1,371,999 - -
Payments of Accounts Payable 781,379 1,081,293 745,964 1,065,944 - -
Remittance of Personnel Benefit Contributions
and Mandatory Deductions 172,396 173,405 169,167 170,965 - -
Grant of Financial Assistance/Subsidy/
Contribution 457,535 56,504 457,535 56,504 - -
Release of Inter-Agency Fund Transfers 550 350 550 350 - -
Release of Loans (Financial Institutions) 260,057,890 234,641,225 260,057,890 234,641,225 - -
Other Disbursements 640,575,826 252,052,998 640,575,826 252,052,998 296,996,406 21,222,818
Total Cash Outflows 1,036,249,392 606,309,476 1,036,119,751 606,233,814 361,568,396 85,482,653
Adjustments 789,499 619,852 789,499 619,852 - -
Adjusted Cash Outflows 1,037,038,891 606,929,327 1,036,909,250 606,853,666 361,568,396 85,482,653

Activities (77,188,154) 177,539,656 (77,175,350) 177,557,380 (202,541,983) (556,472)
Cash Inflows
Proceeds from Sale/ Disposal of Investment
Property 115,704 585,713 115,704 585,713 - -
Proceeds from Sale/Disposal of Property, Plant
and Equipment 305,724 165,362 305,724 165,362 - -
Sale of Investments 138,003,448 165,036,389 138,003,448 165,036,389 - 98,292
Receipt of Interest Earned 45,635 39,209 44,605 38,314 - -
Receipt of Cash Dividends 1,437,603 1,582,906 1,437,603 1,582,906 - -
Proceeds from Matured Investments/Redemption 123,821,822 99,704,125 123,805,103 99,700,978 - -
Proceeds from Sale of Other Assets 3 - - - - -
Total Cash Inflows 263,729,940 267,113,705 263,712,188 267,109,662 - 98,292
Adjusted Cash Inflows 266,216,796 289,013,405 266,199,043 289,009,362 - 98,292
Cash Outflows
Purchase/Construction of Property, Plant and
Equipment 3,599,944 7,911,745 3,598,550 7,900,857 1,392,042 5,822,655
Purchase/Acquisition of Investments 350,756,521 425,024,286 350,751,521 425,013,985 3,651,968 886,863
Purchase of Intangible Assets 58,159 131,637 46,996 123,525 - -
Adjustments (Please specify) 8,576,648 136,306 8,576,648 136,306 - -

Activities (97,022,384) (144,262,166) (97,022,580) (144,236,907) (5,044,011) (6,611,226)
602
(in thousand pesos)
BSP (includes PICCI

Total GBE
accounts)
2018 2017 2018 2017 2018 2017
Cash Inflows
Proceeds from Incurrence of Financial Liabilities 1,263,754,906 905,341,831 1,263,754,906 905,341,831 1,263,417,849 907,086,285
Proceeds from Issuance of Bonds and
Acceptances Payable 316,982 35 316,982 35 4,221 35
Proceeds from Domestic and Foreign Loans 174,011,374 148,796,350 174,011,374 148,796,350 - -
Equity/Contribution from National Government 5,309,778 3,181,000 5,309,778 3,181,000 - -
other Equity Securities 2,428,992 282,137 2,428,992 276,304 - -
Total Cash Inflows 1,445,822,031 1,057,601,354 1,445,822,031 1,057,595,521 1,263,422,070 907,086,321
Adjusted Cash Inflows 1,445,822,031 1,057,601,354 1,445,822,031 1,057,595,521 1,263,422,070 907,086,321
Cash Outflows
Payment of Long-Term Liabilities 1,189,124,651 916,113,786 1,189,124,651 916,113,786 1,040,447,300 764,009,125
Payment for Reacquisition of Capital Stock and
Other Equity Securities 7,381,076 - 7,381,076 - - -
Payment of Cash Dividends/Share of NG to
GOCCs Income 13,611,387 11,965,275 13,611,387 11,965,275 3,636,740 1,842,496
Total Cash Outflows 1,210,117,114 928,079,061 1,210,117,114 928,079,061 1,044,084,040 765,851,621
Adjusted Cash Outflows 1,222,472,772 934,172,626 1,222,472,772 934,172,626 1,044,084,040 765,851,621

Activities 223,349,259 123,428,728 223,349,259 123,422,895 219,338,030 141,234,699

EQUIVALENTS 49,138,720 156,706,218 49,151,328 156,743,367 11,752,036 134,067,001
Effects of Exchange Rate Changes on Cash and 143,095,077 25,131,996 143,095,077 25,131,996 143,321,605 27,825,822
Cash Equivalents
CASH AND CASH EQUIVALENTS, JANUARY 1 1,161,784,785 979,946,570 1,161,726,039 979,850,675 588,037,948 426,145,125
CASH AND CASH EQUIVALENTS, DECEMBER 31 1,354,018,582 1,161,784,785 1,353,972,444 1,161,726,039 743,111,590 588,037,948
603
(in thousand pesos)
DBP AAIIBP DBPLC
2018 2017 2018 2017 2018 2017
Cash Inflows
Collection of Income/Revenue 31,189,797 20,430,374 33,105 31,178 175,317 183,562
Receipt of Assistance/Subsidy - - - - - -
Collection of Receivables 203,910,415 211,913,310 361,857 75,572 603,568 659,559
Trust Receipts - - 127,993 158,864 13,943 33,936
Other Receipts 215,566,570 169,353,668 339 518 15,438 12,016
Total Cash Inflows 450,666,782 401,697,352 523,295 266,132 808,266 889,073
Adjustments 2,519,757 67,506 - - - -
Adjusted Cash Inflows 453,186,539 401,764,858 523,295 266,132 808,266 889,073
Cash Outflows
Payment of Expenses 18,924,191 16,094,205 85,067 73,978 120,170 105,432
Purchase of Inventories - - 1,747 1,698 - -
Grant of Cash Advances - - 923 228 - -
Prepayments 6,748 224 - - 3,932 12,065
Refund of Deposits - - - - - -
Payments of Accounts Payable - - - - - -
and Mandatory Deductions - - 16,397 14,491 13,896 13,538
Contribution - - - - - -
Release of Inter-Agency Fund Transfers - - - - - -
Release of Loans (Financial Institutions) 252,025,304 229,334,958 458,341 101,223 809,386 965,071
Other Disbursements 155,925,289 105,812,810 - - - -
Total Cash Outflows 426,881,532 351,242,197 562,475 191,618 947,383 1,096,107
Adjustments 789,499 617,876 - 1,976 - -
Adjusted Cash Outflows 427,671,031 351,860,073 562,475 193,593 947,383 1,096,107

Activities 25,515,508 49,904,785 (39,180) 72,538 (139,118) (207,034)
Cash Inflows
Property 53,456 125,284 - - - -
and Equipment 304,861 143,402 - - - 250
Sale of Investments 5,008,748 110,436,678 - - - -
Receipt of Interest Earned - - - - - -
Receipt of Cash Dividends - - 1,059 - - -
Proceeds from Matured Investments/Redemption 5,727,336 8,199,654 3,000 13,678 - -
Proceeds from Sale of Other Assets - - - - - -
Total Cash Inflows 11,094,401 118,905,018 4,059 13,678 - 250
Adjustments (Please specify) 2,486,063 21,899,700 - - - -
Adjusted Cash Inflows 13,580,464 140,804,718 4,059 13,678 - 250
Cash Outflows
Purchase/Construction of Investment Property 247,909 71,596 - - - -
Equipment 420,202 577,038 4,349 474 951 715
Purchase/Acquisition of Investments 32,084,865 143,751,712 5,000 - - -
Purchase of Intangible Assets 39,272 118,693 4,949 90 - -
Total Cash Outflows 32,792,248 144,519,039 14,298 564 951 715
Adjustments (Please specify) 8,576,648 131,306 - - - -
Adjusted Cash Outflows 41,368,896 144,650,345 14,298 564 951 715

Activities (27,788,432) (3,845,627) (10,239) 13,114 (951) (465)
604
(in thousand pesos)
DBP AAIIBP DBPLC
2018 2017 2018 2017 2018 2017
Cash Inflows
Proceeds from Incurrence of Financial Liabilities - - - - - -
Acceptances Payable 312,761 - - - - -
Proceeds from Domestic and Foreign Loans 158,835,024 142,496,156 - - 904,000 790,000
Equity/Contribution from National Government - - - - - -
other Equity Securities 2,000,000 - - - - -
Total Cash Inflows 161,147,785 142,496,156 - - 904,000 790,000
Adjusted Cash Inflows 161,147,785 142,496,156 - - 904,000 790,000
Cash Outflows
Payment of Long-Term Liabilities 141,202,966 140,706,656 - - 696,574 576,628
Other Equity Securities - - - - - -
GOCCs Income 959,037 2,516,158 - - 32,916 8,646
Total Cash Outflows 142,162,003 143,222,814 - - 729,489 585,274
Adjustments (Please specify) 12,355,658 6,090,970 - - - -
Adjusted Cash Outflows 154,517,661 149,313,784 - - 729,489 585,274

Activities 6,630,124 (6,817,628) - - 174,511 204,726

EQUIVALENTS 4,357,200 39,241,530 (49,419) 85,652 34,442 (2,773)
Effects of Exchange Rate Changes on Cash and (619,028) (2,120,064) - - - -

Cash Equivalents
CASH AND CASH EQUIVALENTS, JANUARY 1 174,032,327 136,910,861 502,324 416,672 26,107 28,880
CASH AND CASH EQUIVALENTS, DECEMBER 31 177,770,499 174,032,327 452,905 502,324 60,549 26,107
605
(in thousand pesos)
DBPMC DCI LBP
2018 2017 2018 2017 2018 2017

(Restated)
Cash Inflows
Collection of Income/Revenue 972 2 463,215 161,365 62,451,878 50,878,553
Collection of Receivables - - - - 2,883,080 -
Trust Receipts - - - - 230,667,921 189,496,021
Other Receipts 0 - - - 4,891,618 15,530,726
Total Cash Inflows 972 2 463,215 161,365 300,894,497 255,905,300
Adjustments 0 - - - - -
Adjusted Cash Inflows 973 2 463,215 161,365 300,894,497 255,905,300
Cash Outflows
Payment of Expenses 224 236 89,495 116,498 45,385,143 33,265,802
Purchase of Inventories - - - - - -
Grant of Cash Advances - - - - - -
Prepayments - - - - - -
Payments of Accounts Payable - - 393,759 34,316 - -
and Mandatory Deductions - - - - - -
Release of Loans (Financial Institutions) - - - - - -
Other Disbursements - - - 192 186,837,329 123,158,878
Total Cash Outflows 224 236 483,254 151,005 232,222,473 156,424,680
Adjustments - - - - - -
Adjusted Cash Outflows 224 236 483,254 151,005 232,222,473 156,424,680

Activities 749 (234) (20,038) 10,359 68,672,024 99,480,620
Cash Inflows
Property - - - - 47,677 459,244
and Equipment - - - - - -
Sale of Investments - - - - 132,939,889 54,498,497
Receipt of Cash Dividends - 300 - - 1,436,544 1,582,606
Proceeds from Matured Investments/Redemption - 117 - - - -
Total Cash Inflows - 417 - - 134,424,110 56,540,347
Adjustments (Please specify) - - - - - -
Adjusted Cash Inflows - 417 - - 134,424,110 56,540,347
Cash Outflows
Purchase/Construction of Investment Property - - - - - -
Equipment - - - 669 1,730,531 1,440,956
Purchase/Acquisition of Investments 774 43,069 - - 176,924,680 168,045,733
Purchase of Intangible Assets - - - - - -
Total Cash Outflows 774 43,069 - 669 178,655,212 169,486,689
Adjustments (Please specify) - 5,000 - - - -
Adjusted Cash Outflows 774 48,069 - 669 178,655,212 169,486,689

Activities (774) (47,652) - (669) (44,231,102) (112,946,342)
606
(in thousand pesos)
DBPMC DCI LBP
2018 2017 2018 2017 2018 2017

(Restated)
Cash Inflows
Acceptances Payable - - - - - -
Proceeds from Domestic and Foreign Loans - - - - 6,810,132 -
Equity/Contribution from National Government - - - - 5,309,778 3,181,000
other Equity Securities - - - - - 276,304
Total Cash Inflows - - - - 12,119,910 3,457,304
Adjusted Cash Inflows - - - - 12,119,910 3,457,304
Cash Outflows
Payment of Long-Term Liabilities - - - - - 5,424,874
Other Equity Securities - - - - 7,131,841 -
GOCCs Income - - 605 6,182 - -
Total Cash Outflows - - 605 6,182 7,131,841 5,424,874
Adjustments (Please specify) - - - 2,595 - -
Adjusted Cash Outflows - - 605 8,776 7,131,841 5,424,874

Activities - - (605) (8,776) 4,988,069 (1,967,570)

EQUIVALENTS (25) (47,886) (20,643) 914 29,428,992 (15,433,293)
Effects of Exchange Rate Changes on Cash and - - - - 392,285 (574,047)

Cash Equivalents
CASH AND CASH EQUIVALENTS, JANUARY 1 1,052 48,938 30,762 29,848 394,073,809 410,081,148
CASH AND CASH EQUIVALENTS, DECEMBER 31 1,026 1,052 10,119 30,762 423,895,086 394,073,809
607
(in thousand pesos)
LBRDC LIBI LLFC
2018 2017 2018 2017 2018 2017

(Restated)
Cash Inflows
Collection of Income/Revenue 268,476 226,111 241,052 305,790 695,009 326,360
Collection of Receivables 197,434 177,584 2,603 3,918 6,142,336 4,016,636
Trust Receipts 5,180 1,611 - - 90,339 149,435
Other Receipts 17,263 1,628 587,848 393,618 - -
Total Cash Inflows 488,353 406,934 831,502 703,326 6,927,684 4,492,432
Adjustments - - - 1,230,465 - -
Adjusted Cash Inflows 488,353 406,934 831,502 1,933,791 6,927,684 4,492,432
Cash Outflows
Payment of Expenses 237,304 142,441 59,944 37,693 370,876 295,033
Purchase of Inventories 41,463 37,179 419 348 - -
Grant of Cash Advances 11,542 6,321 - - 19,890 18,492
Prepayments 979 2,731 3,061 7,369 - -
Refund of Deposits 52 1,326 - - 63,911 96,579
Payments of Accounts Payable (2,026) 5,818 4,011 5,976 405 526
and Mandatory Deductions 67,696 72,944 3,147 720 41,663 51,903
Contribution - - 1,136 404 - -
Release of Inter-Agency Fund Transfers - - - - 550 350
Release of Loans (Financial Institutions) - - - - 6,764,858 4,239,972
Other Disbursements 69,048 93,656 698,517 1,819,274 - -
Total Cash Outflows 426,060 362,417 770,235 1,871,784 7,262,152 4,702,855
Adjusted Cash Outflows 426,060 362,417 770,235 1,871,784 7,262,152 4,702,855

Activities 62,293 44,517 61,267 62,007 (334,468) (210,424)
Cash Inflows
Property - - - - - -
and Equipment - - - 4 863 21,486
Sale of Investments - - - - - -
Receipt of Cash Dividends - - - - - -
Proceeds from Matured Investments/Redemption - 737,436 1,853,219 2,593,114 - -
Total Cash Inflows 6,332 741,721 1,891,492 2,627,146 863 21,486
Adjusted Cash Inflows 6,332 741,721 1,891,492 2,627,146 863 21,486
Cash Outflows
Equipment 186 3,129 7,078 2,823 6,368 6,609
Purchase/Acquisition of Investments 23,150 795,424 1,924,471 2,762,711 - -
Purchase of Intangible Assets - - 2,774 - - -
Total Cash Outflows 23,336 798,553 1,934,322 2,765,534 6,368 6,609
Adjusted Cash Outflows 23,336 798,553 1,934,322 2,765,534 6,368 6,609

Activities (17,004) (56,832) (42,831) (138,388) (5,505) 14,877
608
(in thousand pesos)
LBRDC LIBI LLFC
2018 2017 2018 2017 2018 2017

(Restated)
Cash Inflows
Proceeds from Domestic and Foreign Loans - - - - 7,154,656 5,510,194
other Equity Securities - - - - - 0
Cash Outflows
Payment of Long-Term Liabilities - - - - 6,760,172 5,266,466
Other Equity Securities - - - - 0 -
GOCCs Income 34,210 30,498 39,899 37,759 48,313 48,752
Total Cash Outflows 34,210 30,498 39,899 37,759 6,808,485 5,315,218
Adjusted Cash Outflows 34,210 30,498 39,899 37,759 6,808,485 5,315,218

Activities (34,210) (30,498) (39,899) (37,759) 346,171 194,976

EQUIVALENTS 11,080 (42,813) (21,462) (114,139) 6,198 (571)
Effects of Exchange Rate Changes on Cash and - - - 159 - -

Cash Equivalents
CASH AND CASH EQUIVALENTS, JANUARY 1 75,531 118,344 128,649 242,630 41,940 42,511
CASH AND CASH EQUIVALENTS, DECEMBER 31 86,611 75,531 107,187 128,649 48,138 41,940
609
(in thousand pesos)
2018 2017 2018 2017 2018 2017

(Restated)
Cash Inflows
Collection of Income/Revenue 150,664 341,504 1,580 300 451,737 518,326
Collection of Receivables - - 229,281 162,510 642,689 995,957
Trust Receipts - - 445 1,078 - -
Other Receipts 316 161 - - 21,840 20,881
Adjustments - - - - 1,132 21
Adjusted Cash Inflows 150,980 341,666 231,306 163,888 1,117,399 1,535,184
Cash Outflows
Grant of Cash Advances - - - - 138,990 30,915
Prepayments - - 3,725 5,822 - -
Payments of Accounts Payable 169,616 280,255 1,816 19,999 - 650,000
and Mandatory Deductions - - 26,310 17,302 - -
Other Disbursements 0 0 238 956 48,997 (55,587)
Total Cash Outflows 192,016 297,821 223,641 160,350 776,159 1,142,665
Adjusted Cash Outflows 192,016 297,821 223,641 160,350 776,159 1,142,665

Activities (41,036) 43,844 7,665 3,538 341,239 392,519
Cash Inflows
Property 262 - - - 14,309 1,186
and Equipment - 220 - - - -
Sale of Investments - - - - 54,812 2,921
Proceeds from Matured Investments/Redemption 62,856 - - - - -
Total Cash Inflows 63,118 220 - - 69,121 4,107
Adjustments (Please specify) - - 793 - - -
Adjusted Cash Inflows 63,118 220 793 - 69,121 4,107
Cash Outflows
Equipment - 3,090 2,183 3,899 1,612 19,461
Purchase/Acquisition of Investments - - - - - -
Purchase of Intangible Assets - - - - - 4,742
Total Cash Outflows - 3,090 2,183 3,899 1,612 24,202
Adjusted Cash Outflows - 3,090 2,183 3,899 1,612 24,202

Activities 63,118 (2,870) (1,390) (3,899) 67,509 (20,095)
610
(in thousand pesos)
2018 2017 2018 2017 2018 2017

(Restated)
Cash Inflows
Proceeds from Incurrence of Financial Liabilities - - - - 337,056 (1,744,454)
Proceeds from Domestic and Foreign Loans - - - - - -
other Equity Securities - - - - 428,992 -
Total Cash Inflows - - - - 766,048 (1,744,454)
Adjusted Cash Inflows - - - - 766,048 (1,744,454)
Cash Outflows
Payment of Long-Term Liabilities - - - - - 40,000
Other Equity Securities - - - - 249,235 -
GOCCs Income 15,370 13,560 - - - -
Total Cash Outflows 15,370 13,560 - - 249,235 40,000
Adjusted Cash Outflows 15,370 13,560 - - 249,235 40,000

Activities (15,370) (13,560) - - 516,813 (1,784,454)

EQUIVALENTS 6,711 27,414 6,275 (361) 925,562 (1,412,031)
Effects of Exchange Rate Changes on Cash and - - - - 138 230

Cash Equivalents
CASH AND CASH EQUIVALENTS, JANUARY 1 86,772 59,358 7,096 7,457 3,346,583 4,758,384
CASH AND CASH EQUIVALENTS, DECEMBER 31 93,484 86,772 13,371 7,096 4,272,283 3,346,583
611
(in thousand pesos)
PDIC Non-GBE CIC
2018 2017 2018 2017 2018 2017
Cash Inflows
Receipt of Assistance/Subsidy - - 67,971 47,574 67,971 47,574
Collection of Receivables 337,487 494,226 - - - -
Trust Receipts - - - - - -
Other Receipts - - 2,165 1,595 15 20
Cash Outflows
Refund of Deposits 1,729,060 1,274,094 - - - -
Payments of Accounts Payable 178,383 69,053 35,416 15,349 35,416 15,349
and Mandatory Deductions 59 67 3,229 2,440 - -
Contribution 456,399 56,100 - - - -
Other Disbursements - - - - - -
Total Cash Outflows 3,803,752 3,107,426 129,641 75,661 92,044 48,665
Adjusted Cash Outflows 3,803,752 3,107,426 129,641 75,661 92,044 48,665

Activities 31,279,727 28,516,815 (12,804) (17,724) (15,100) 455
Cash Inflows
Receipt of Interest Earned - - 1,031 896 - 197
Proceeds from Matured Investments/Redemption 116,158,692 88,156,980 16,719 3,147 - -
Proceeds from Sale of Other Assets - - 3 - - -
Total Cash Inflows 116,158,692 88,156,980 17,752 4,043 - 197
Adjusted Cash Inflows 116,158,692 88,156,980 17,752 4,043 - 197
Cash Outflows
Equipment 33,050 19,339 1,393 10,888 1,362 10,721
Purchase/Acquisition of Investments 136,136,612 108,728,473 5,000 10,301 - -
Purchase of Intangible Assets - - 11,163 8,113 11,163 8,113

Activities (20,010,970) (20,590,833) 196 (25,258) (12,525) (18,637)
612
(in thousand pesos)
PDIC Non-GBE CIC
2018 2017 2018 2017 2018 2017
Cash Inflows
Proceeds from Domestic and Foreign Loans 307,562 - - - - -
other Equity Securities - - - 5,833 - 5,833
Total Cash Inflows 307,562 - - 5,833 - 5,833
Adjusted Cash Inflows 307,562 - - 5,833 - 5,833
Cash Outflows
Payment of Long-Term Liabilities 17,639 90,036 - - - -
GOCCs Income 8,844,299 7,461,225 - - - -
Total Cash Outflows 8,861,937 7,551,261 - - - -
Adjusted Cash Outflows 8,861,937 7,551,261 - - - -

Activities (8,554,375) (7,551,261) - 5,833 - 5,833

EQUIVALENTS 2,714,382 374,721 (12,608) (37,149) (27,625) (12,348)
Effects of Exchange Rate Changes on Cash and 76 (103) - - - -

Cash Equivalents
CASH AND CASH EQUIVALENTS, JANUARY 1 1,335,140 960,522 58,746 95,895 52,441 64,789
613
(in thousand pesos)
LCDFI
2018 2017
Cash Inflows
Collection of Income/Revenue 37,743 7,242
Receipt of Assistance/Subsidy - -
Collection of Receivables - -
Trust Receipts - -
Other Receipts 2,150 1,575
Total Cash Inflows 39,893 8,817
Adjustments - -
Adjusted Cash Inflows 39,893 8,817
Cash Outflows
Payment of Expenses 26,684 18,769
Purchase of Inventories - -
Grant of Cash Advances 7,683 5,787
Prepayments - -
Refund of Deposits - -
Payments of Accounts Payable - -
and Mandatory Deductions 3,229 2,440
Contribution - -
Release of Inter-Agency Fund Transfers - -
Release of Loans (Financial Institutions) - -
Other Disbursements - -
Total Cash Outflows 37,597 26,997
Adjustments - -
Adjusted Cash Outflows 37,597 26,997

Activities 2,296 (18,179)
Cash Inflows
Property - -
and Equipment - -
Sale of Investments - -
Receipt of Interest Earned 1,031 698
Proceeds from Matured Investments/Redemption 16,719 3,147
Proceeds from Sale of Other Assets 3 -
Total Cash Inflows 17,752 3,846
Adjusted Cash Inflows 17,752 3,846
Cash Outflows
Equipment 31 166
Purchase/Acquisition of Investments 5,000 10,301
Purchase of Intangible Assets - -

Activities 12,721 (6,621)
614
(in thousand pesos)
LCDFI
2018 2017
Cash Inflows
Proceeds from Incurrence of Financial Liabilities - -
Acceptances Payable - -
other Equity Securities - -
Total Cash Inflows - -
Adjusted Cash Inflows - -
Cash Outflows
Payment of Long-Term Liabilities - -
Other Equity Securities - -
GOCCs Income - -
Total Cash Outflows - -
Adjusted Cash Outflows - -

Activities - -

EQUIVALENTS 15,017 (24,801)
Effects of Exchange Rate Changes on Cash and - -

Cash Equivalents
CASH AND CASH EQUIVALENTS, JANUARY 1 6,305 31,106
CASH AND CASH EQUIVALENTS, DECEMBER 31 21,322 6,305
615
(in thousand pesos)
Total GBE AFPRSBS

2018 2017 2018 2017 2018 2017
Cash Inflows
Collection of Income/Revenue 343,478,309 303,750,787 343,206,468 303,706,767 173,974 150,117
Receipt of Assistance/Subsidy 1,721,295 21,465,428 1,105,230 1,686,920 - -
Collection of Receivables 64,192,049 61,796,644 62,559,985 51,521,730 5,257,216 354,016
Receipt of Inter-Agency Fund Transfers 4,112,909 2,352,890 3,993,037 2,352,890 - -
Receipt of Intra-Agency Fund Transfers 101,378 1,031 - 1,031 - -
Trust Receipts 7,124,801 1,235,986 1,843,331 1,235,644 972,940 209,097
Other Receipts 387,509,791 123,444,519 387,454,564 123,437,712 1,611 1,598
Total Cash Inflows 808,240,532 514,047,284 800,162,615 483,942,694 6,405,741 714,827
Adjustments 1,021,114 72,700 1,021,114 72,700 18,144 21,007
Adjusted Cash Inflows 809,261,646 514,119,984 801,183,728 484,015,394 6,423,885 735,835
Cash Outflows
Payment of Expenses 205,681,338 193,347,785 204,145,415 191,896,736 117,951 96,124
Purchase of Inventories 1,536,764 327,618 256,047 321,924 7,931 2,915
Grant of Cash Advances 515,824 10,722 62,087 10,722 4,131 3,599
Prepayments 344,516 138,660 343,679 137,973 17,680 15,746
Refund of Deposits 118,719 47,894 118,665 47,894 - -
Payments of Accounts Payable 106,138,289 97,710,414 106,094,304 97,686,485 370,740 4,764
and Mandatory Deductions 5,598,418 13,067,606 5,479,246 4,101,740 1,532 2,215
Contribution 60,564 52,885 60,564 52,885 - -
Release of Inter-Agency Fund Transfers 26,005 18,260 26,005 18,260 - -
Release of Loans (Financial Institutions) 110,346,598 88,343,736 110,346,598 88,343,736 - -
Other Disbursements 392,289,022 125,704,814 380,090,028 111,008,449 13,098 14,117
Total Cash Outflows 822,656,056 518,770,395 807,022,637 493,626,804 533,062 139,479
Adjustments 360,729 475,065 360,729 475,065 28,349 438,355
Adjusted Cash Outflows 823,016,785 519,245,460 807,383,366 494,101,869 561,411 577,834

Activities (13,755,140) (5,125,476) (6,199,638) (10,086,475) 5,862,474 158,001
Cash Inflows
Property 616,764 586,551 616,764 586,551 - -
and Equipment 8,939 2,409 8,939 2,409 - -
Sale of Investments 31,417,308 36,393,588 31,417,308 36,393,588 5,551 6,923
Receipt of Interest Earned 56,750,458 47,352,750 56,748,042 47,347,825 - -
Receipt of Cash Dividends 4,294,369 3,679,531 4,294,369 3,679,531 - -
Collection of Long-Term Loans 173,107,442 126,809,892 173,107,442 126,809,892 - -
Cash Outflows
Purchase/Construction of Investment Property 905 1,062 905 1,062 - -
Equipment 883,155 900,308 844,314 843,193 808 744
Grant of Loans 219,711,856 119,752,618 219,711,856 119,752,618 197,842 299,903
Adjustments (Please specify) - 1,277,871 - 1,277,871 - -

Activities (37,687,610) 7,661,414 (37,716,878) 7,814,043 (5,214,550) (151,289)
616
(in thousand pesos)
Total GBE AFPRSBS

2018 2017 2018 2017 2018 2017
Cash Inflows
Proceeds from Domestic and Foreign Loans 797,274 972,183 797,274 972,183 - -
Equity/Contribution from National Government 1,264,224 2,227,145 1,264,224 2,227,145 57 445
other Equity Securities 40,671,673 33,839,161 40,671,673 33,839,161 - -
Total Cash Inflows 42,733,172 37,038,489 42,733,172 37,038,489 57 445
Adjusted Cash Inflows 42,733,172 37,038,489 42,733,172 37,038,489 57 445
Cash Outflows
Payment of Long-Term Liabilities 2,712,211 3,040,496 2,712,211 3,040,496 527,553 554,193
Redemption of Bonds Issued and Unsecured
Subordinated Debt/Payment of Acceptances
Payable 7,316 135,170 7,316 135,170 - -
Other Equity Securities 14,032,387 10,104,619 14,032,387 10,104,619 - -
Payment of Interest on Loans and Other
Financial Charges 625,549 378,203 625,549 378,203 - -
GOCCs Income 706,025 530,524 687,806 366,854 - -
Adjustments (Please specify) 21,921 20,174 21,921 20,174 133 -

Activities 24,627,761 22,829,302 24,645,981 22,992,972 (527,630) (553,748)

EQUIVALENTS (26,814,989) 25,365,240 (19,270,536) 20,720,540 120,294 (547,036)
- -
Cash Equivalents 662,668 51,068 662,668 51,068 - -
CASH AND CASH EQUIVALENTS, JANUARY 1 77,989,139 52,572,831 66,332,902 45,561,293 41,756 588,792
CASH AND CASH EQUIVALENTS, DECEMBER 31 51,836,818 77,989,139 47,725,034 66,332,902 162,051 41,756
617
(in thousand pesos)
SUMSI GSIS HDMF

2018 2017 2018 2017 2018 2017
Cash Inflows
Collection of Income/Revenue - 64 121,777,311 107,232,876 35,289,721 33,503,034
Collection of Receivables 29,791 29,459 1,014,039 1,048,667 52,810,161 46,206,426
Receipt of Inter-Agency Fund Transfers 6,635 5,723 126,729 82,693 - -
Receipt of Intra-Agency Fund Transfers - - - - - -
Trust Receipts - - 320,658 492,942 - -
Other Receipts 104 306 166,038 52,129 378,552,873 106,743,465
Total Cash Inflows 36,530 35,551 123,404,775 108,909,307 466,652,755 186,452,926
Adjustments - - 632,222 50,435 - -
Adjusted Cash Inflows 36,530 35,551 124,036,996 108,959,743 466,652,755 186,452,926
Cash Outflows
Payment of Expenses 19,796 19,328 3,686,949 3,122,544 8,238,684 7,064,171
Purchase of Inventories 501 835 90,320 74,458 144,000 227,201
Grant of Cash Advances 955 1,580 - - - -
Payments of Accounts Payable - - 105,169,612 97,272,694 - -
and Mandatory Deductions 3,266 3,860 2,840,214 2,327,065 2,246,852 1,491,706
Contribution - - 60,564 52,885 - -
Release of Loans (Financial Institutions) - - - - 107,201,164 86,069,251
Other Disbursements 282 231 612,731 1,218,880 377,335,396 107,471,907
Total Cash Outflows 24,800 25,834 112,460,391 104,068,526 495,166,096 202,324,235
Adjustments - - 50,435 33,676 - -
Adjusted Cash Outflows 24,800 25,834 112,510,826 104,102,201 495,166,096 202,324,235

Activities 11,729 9,717 11,526,170 4,857,541 (28,513,340) (15,871,309)
Cash Inflows
Property - - 112,860 70,706 501,923 512,696
and Equipment - - - - 8,719 2,274
Sale of Investments - - 25,641,818 29,298,145 5,769,938 7,088,519
Receipt of Interest Earned - - 56,521,028 47,234,864 - -
Receipt of Cash Dividends - - 4,294,324 3,679,301 45 231
Proceeds from Matured Investments/Redemption 44,447 20,761 143,109,577 85,071,691 - -
Collection of Long-Term Loans - - 173,107,442 126,809,892 - -
Cash Outflows
Equipment 128 580 174,613 296,922 325,775 312,025
Purchase/Acquisition of Investments 53,447 24,164 216,143,366 154,977,887 3,462,137 11,605,361
Purchase of Intangible Assets - - - - 44,318 38,792
Grant of Loans - - 207,449,599 132,402,172 - -

Activities (9,128) (3,983) (20,980,529) 4,487,618 2,448,396 (4,352,458)
618
(in thousand pesos)
SUMSI GSIS HDMF

2018 2017 2018 2017 2018 2017
Cash Inflows
other Equity Securities - - - - 40,591,517 33,710,936
Cash Outflows
Payment of Long-Term Liabilities - - - - - -
Payable - - - - - -
Other Equity Securities - - - - 13,829,693 9,943,955
Financial Charges - - - - - -
GOCCs Income 2,500 6,500 - - - -
Total Cash Outflows 2,500 6,500 - - 13,829,693 9,943,955
Adjusted Cash Outflows 2,500 6,500 - - 13,829,693 9,943,955

Activities (2,500) (6,500) - - 26,761,825 23,766,982

EQUIVALENTS 101 (766) (9,454,359) 9,345,159 696,880 3,543,216

Cash Equivalents - - 599,521 38,784 62,932 12,276
CASH AND CASH EQUIVALENTS, JANUARY 1 5,569 6,335 25,062,127 15,678,183 8,221,684 4,666,192
CASH AND CASH EQUIVALENTS, DECEMBER 31 5,670 5,569 16,207,288 25,062,127 8,981,496 8,221,684
619
(in thousand pesos)
HGC NHMFC SHFC

2018 2017 2018 2017 2018 2017
Cash Inflows
Collection of Income/Revenue 1,907,488 1,706,880 721,076 33,378 1,034,710 956,375
Collection of Receivables 337,791 182,003 962,380 1,781,883 6,488 6,432
Receipt of Inter-Agency Fund Transfers - - - - 3,855,524 2,259,704
Receipt of Intra-Agency Fund Transfers - - - 1,031 - -
Trust Receipts 88,228 81,346 347,796 286,693 93,551 155,294
Other Receipts 36,235 191,864 619 738 2,041 4,151
Adjustments 574 1,225 160,144 - 209,455 -
Cash Outflows
Payment of Expenses 1,455,987 505,178 406,232 536,154 341,057 316,905
Purchase of Inventories 3,125 9,888 3,604 3,086 6,344 3,380
Grant of Cash Advances - - 37,303 700 13,435 -
Prepayments 213,481 48,458 3,442 - 61,105 58,749
Refund of Deposits - - 34,276 26,920 83,917 16,190
and Mandatory Deductions 79,824 59,543 184,743 89,212 105,081 108,564
Release of Inter-Agency Fund Transfers - - - 299 26,005 17,961
Other Disbursements 290,691 36,484 26,976 79,648 1,805,694 2,152,517
Total Cash Outflows 2,043,109 659,551 1,247,017 1,107,833 2,442,638 2,674,265
Adjustments - - 194,791 - 87,121 -
Adjusted Cash Outflows 2,043,109 659,551 1,441,809 1,107,833 2,529,759 2,674,265

Activities 327,207 1,503,769 750,207 995,891 2,672,011 707,691
Cash Inflows
and Equipment 188 - - - - -
Receipt of Interest Earned - 310 108,257 49,542 118,756 63,108
Proceeds from Matured Investments/Redemption 824,853 - 2,646,415 5,400,071 7,048,126 3,829,104
Collection of Long-Term Loans - - - - - -
Total Cash Inflows 825,041 310 2,754,673 5,449,614 7,166,882 3,892,212
Adjusted Cash Inflows 825,041 310 2,754,673 5,449,614 7,166,882 3,892,212
Cash Outflows
Equipment 849 8,561 25,767 31,835 42,613 22,645
Purchase/Acquisition of Investments 1,253,835 71,703 3,399,462 7,202,374 7,739,702 4,977,625
Purchase of Intangible Assets - 1,197 14,908 268 51 -
Grant of Loans - - - - 3,420 8,200
Total Cash Outflows 1,254,684 81,461 3,440,137 7,234,477 7,785,786 5,008,470
Adjustments (Please specify) - 1,277,871 - - - -

Activities (429,642) (1,359,022) (685,465) (1,784,864) (618,903) (1,116,258)
620
(in thousand pesos)
HGC NHMFC SHFC

2018 2017 2018 2017 2018 2017
Cash Inflows
Equity/Contribution from National Government 500,000 - 264,168 2,226,700 - -
other Equity Securities - - - - - -
Total Cash Inflows 500,000 - 264,168 2,226,700 - -
Adjusted Cash Inflows 500,000 - 264,168 2,226,700 - -
Cash Outflows
Payment of Long-Term Liabilities 300,000 1,100,000 194,039 351,360 11,605 9,873
Payable 7,316 135,170 - - - -
Financial Charges 124,223 200,594 371,221 75,489 4,150 5,045
GOCCs Income 412,852 120,895 159,001 154,746 113,453 84,713
Total Cash Outflows 844,392 1,556,659 724,260 581,595 129,208 99,631
Adjustments (Please specify) - - - - 21,788 20,174
Adjusted Cash Outflows 844,392 1,556,659 724,260 581,595 150,996 119,806

Activities (344,392) (1,556,659) (460,093) 1,645,105 (150,996) (119,806)

EQUIVALENTS (446,827) (1,411,912) (395,351) 856,132 1,902,112 (528,372)

Cash Equivalents 157 6 - - - -
CASH AND CASH EQUIVALENTS, JANUARY 1 1,018,815 2,430,722 1,810,939 954,807 2,141,192 2,669,565
CASH AND CASH EQUIVALENTS, DECEMBER 31 572,145 1,018,815 1,415,588 1,810,939 4,043,305 2,141,192
621
(in thousand pesos)
PDGCC SBC SSS

2018 2017 2018 2017 2018 2017
(Restated)
Cash Inflows
Collection of Income/Revenue 207 10,716 306,872 298,038 181,917,282 159,724,023
Receipt of Assistance/Subsidy - - 1,105,230 1,686,920 - -
Collection of Receivables 66,887 54,646 2,003,298 1,799,687 - -
Receipt of Inter-Agency Fund Transfers - - - - - -
Trust Receipts 42 56 - - - -
Other Receipts 912 1,183 62,194 27,283 8,631,938 16,364,943
Adjustments 575 32 - - - -
Cash Outflows
Payment of Expenses 63,565 49,463 292,529 212,992 189,405,242 179,846,091
Purchase of Inventories 221 162 - - - -
Grant of Cash Advances - - 6,263 4,843 - -
Prepayments 293 293 39,201 11,490 - -
and Mandatory Deductions 4,675 2,869 - - - -
Release of Loans (Financial Institutions) - - 3,145,434 2,274,486 - -
Other Disbursements 1,169 1,231 3,043 28,991 - -
Adjustments 32 3,035 - - - -

Activities (1,334) 9,580 (8,875) 1,279,126 1,143,978 (3,757,125)
Cash Inflows
Property - - 1,981 3,149 - -
and Equipment - - 33 135 - -
Proceeds from Matured Investments/Redemption - - 1,056,547 1,027,452 - -
Total Cash Inflows - - 1,058,561 1,030,736 - -
Adjusted Cash Inflows - - 1,058,561 1,030,736 - -
Cash Outflows
Purchase/Construction of Investment Property - - 905 1,062 - -
Equipment 3,477 82 4,328 4,471 265,340 163,204
Purchase/Acquisition of Investments - - 345,011 1,484,521 - -
Purchase of Intangible Assets - - - - 75,991 14,382
Grant of Loans - - - - 12,060,994 (12,957,657)
Total Cash Outflows 3,477 82 350,244 1,490,054 12,402,325 (12,780,071)
Adjusted Cash Outflows 3,477 82 350,244 1,490,054 12,402,325 (12,780,071)

Activities (3,477) (82) 708,317 (459,318) (12,402,325) 12,780,071
622
(in thousand pesos)
PDGCC SBC SSS

2018 2017 2018 2017 2018 2017
(Restated)
Cash Inflows
Proceeds from Domestic and Foreign Loans - - 797,274 972,183 - -
other Equity Securities - - - - 80,156 128,225
Total Cash Inflows - - 797,274 972,183 80,156 128,225
Adjusted Cash Inflows - - 797,274 972,183 80,156 128,225
Cash Outflows
Payment of Long-Term Liabilities - - 1,638,402 982,319 - -
Payable - - - - - -
Other Equity Securities - - - - 202,694 160,665
Financial Charges - - 79,908 52,778 - -
GOCCs Income - - - - - -
Total Cash Outflows - - 1,718,310 1,035,097 202,694 160,665
Adjusted Cash Outflows - - 1,718,310 1,035,097 202,694 160,665

Activities - - (921,036) (62,914) (122,538) (32,440)

EQUIVALENTS (4,811) 9,498 (221,595) 756,894 (11,380,885) 8,990,506

Cash Equivalents - - (8) 0 - -
CASH AND CASH EQUIVALENTS, JANUARY 1 30,041 20,543 1,008,833 251,939 26,821,426 17,830,920
CASH AND CASH EQUIVALENTS, DECEMBER 31 25,231 30,041 787,230 1,008,833 15,440,541 26,821,426
623
(in thousand pesos)
TIDCORP Non-GBE ECC

2018 2017 2018 2017 2018 2017
Cash Inflows
Receipt of Assistance/Subsidy - - 616,065 19,778,508 263,258 221,229
Collection of Receivables 71,934 58,511 1,632,063 10,274,914 19,919 22,705
Receipt of Inter-Agency Fund Transfers 4,149 4,770 119,872 - - -
Receipt of Intra-Agency Fund Transfers - - 101,378 - 101,378 -
Trust Receipts 20,115 10,215 5,281,471 341 334 341
Other Receipts - 50,052 55,227 6,806 7,136 6,806
Total Cash Inflows 174,025 214,813 8,077,917 30,104,590 411,974 268,044
Adjusted Cash Inflows 174,025 214,813 8,077,917 30,104,590 411,974 268,044
Cash Outflows
Payment of Expenses 117,423 127,786 1,535,923 1,451,049 235,943 196,981
Purchase of Inventories - - 1,280,717 5,694 - -
Grant of Cash Advances - - 453,737 - - -
Prepayments 8,478 3,237 837 688 312 688
Refund of Deposits 472 4,783 54 - - -
and Mandatory Deductions 13,058 16,708 119,172 8,965,866 39,549 36,396
Other Disbursements 949 4,444 12,198,994 14,696,365 10 1,208

Activities 30,135 20,641 (7,555,502) 4,960,999 92,175 8,842
Cash Inflows
Receipt of Interest Earned - - 2,416 4,926 2,416 4,926
Proceeds from Matured Investments/Redemption 522,271 2,244,901 153,777 593,065 153,777 434,923
Total Cash Inflows 522,271 2,244,901 156,194 597,991 156,194 439,848
Adjusted Cash Inflows 522,271 2,244,901 156,194 597,991 156,194 439,848
Cash Outflows
Equipment 617 2,123 38,841 57,114 24,054 37,037
Purchase/Acquisition of Investments 1,051,225 2,469,150 88,085 693,505 88,085 693,505
Grant of Loans - - - - - -

Activities (529,571) (226,372) 29,268 (152,629) 44,055 (290,694)
624
(in thousand pesos)
TIDCORP Non-GBE ECC

2018 2017 2018 2017 2018 2017
Cash Inflows
Equity/Contribution from National Government 500,000 - - - - -
Total Cash Inflows 500,000 - - - - -
Adjusted Cash Inflows 500,000 - - - - -
Cash Outflows
Payable - - - - - -
Financial Charges 46,047 44,298 - - - -
GOCCs Income - - 18,220 163,670 - -
Total Cash Outflows 86,660 87,048 18,220 163,670 - -
Adjusted Cash Outflows 86,660 87,048 18,220 163,670 - -

Activities 413,340 (87,048) (18,220) (163,670) - -

EQUIVALENTS (86,096) (292,779) (7,544,453) 4,644,700 136,230 (281,852)

CASH AND CASH EQUIVALENTS, JANUARY 1 170,519 463,295 11,656,238 7,011,537 45,458 327,310
CASH AND CASH EQUIVALENTS, DECEMBER 31 84,489 170,519 4,111,784 11,656,238 181,688 45,458
625
(in thousand pesos)
NHA
2018 2017
Cash Inflows
Collection of Income/Revenue 251,893 27,057
Receipt of Assistance/Subsidy 352,807 19,557,279
Receipt of Inter-Agency Fund Transfers 119,872 -
Receipt of Intra-Agency Fund Transfers - -
Trust Receipts 5,281,137 -
Other Receipts 48,091 -
Adjustments - -
Cash Outflows
Purchase of Inventories 1,280,717 5,694
Grant of Cash Advances 453,737 -
Prepayments 525 -
Refund of Deposits 54 -
Payments of Accounts Payable - -
and Mandatory Deductions 79,623 8,929,470
Contribution - -
Release of Inter-Agency Fund Transfers - -
Release of Loans (Financial Institutions) - -
Other Disbursements 12,198,984 14,695,157
Adjustments - -

Activities (7,647,677) 4,952,157
Cash Inflows
Property - -
and Equipment - -
Sale of Investments - -
Receipt of Interest Earned - -
Proceeds from Matured Investments/Redemption - 158,142
Collection of Long-Term Loans - -
Total Cash Inflows - 158,142
Adjusted Cash Inflows - 158,142
Cash Outflows
Equipment 14,787 20,077
Purchase/Acquisition of Investments - -
Purchase of Intangible Assets - -
Grant of Loans - -

Activities (14,787) 138,066
626
(in thousand pesos)
NHA
2018 2017
Cash Inflows
other Equity Securities - -
Total Cash Inflows - -
Adjusted Cash Inflows - -
Cash Outflows
Payment of Long-Term Liabilities - -
Payable - -
Other Equity Securities - -
Financial Charges - -
GOCCs Income 18,220 163,670

Activities (18,220) (163,670)

EQUIVALENTS (7,680,683) 4,926,552

Cash Equivalents - -
CASH AND CASH EQUIVALENTS, JANUARY 1 11,610,780 6,684,228
CASH AND CASH EQUIVALENTS, DECEMBER 31 3,930,096 11,610,780
627
(in thousand pesos)
Total GBE APO

2018 2017 2018 2017 2018 2017
Cash Inflows
Proceeds from Sale of Goods and Services 14,478,987 13,836,753 11,040,181 9,648,070 3,978,265 3,533,045
Receipt of Assistance/Subsidy 2,022,134 4,941,926 105,668 18,289 - -
Collection of Receivables 47,674,107 44,143,436 7,376,653 6,744,129 39,599 36,998
Receipt of Inter-Agency Fund Transfers 2,832,454 130,586 156,981 47,493 - -
Receipt of Intra-Agency Fund Transfers 6,351,093 9,717,423 130,512 76,410 - -
Trust Receipts 7,997,072 4,767,469 3,618,806 3,109,661 - -
Other Receipts 7,354,726 7,572,280 4,654,058 6,453,921 671,165 504,746
Adjustments 1,103,657 3,592,031 682,319 175,280 99,805 -
Cash Outflows
Purchase of Inventories 6,172,434 5,377,249 1,986,946 2,045,314 241 -
Prepayments 3,009,359 3,911,859 3,008,102 3,910,742 - -
Payments of Accounts Payable 7,670,068 9,577,023 3,941,326 5,543,388 1,700,316 3,371,869
Contribution 9,486,132 5,152,982 - 4 - -
Release of Inter-Agency Fund Transfers 4,378,046 2,971,120 81,109 131,100 - -
Release of Intra-Agency Fund Transfers 8,072,599 15,149,175 743,931 571,910 - -
Other Disbursements 11,748,751 8,842,609 5,822,779 4,177,647 1,553,616 360,753
Adjustments 2,285,329 3,443,518 1,195,242 277,995 1,015,660 235,865

Activities 80,293,221 82,562,487 20,380,752 19,436,818 92,441 (31,682)
Cash Inflows
Property 1,167,902 5,833 5,251 5,833 - -
and Equipment 95,961 176,075 16,767 18,452 - -
Sale of Investments 139,720 218,175 139,720 218,175 - -
Receipt of Interest Earned 990,436 579,926 395,912 344,427 315 282
Receipt of Cash Dividends 108,646 139,193 108,646 139,193 101,457 99,638
Collection of Long-Term Loans 178,089 111,423 3,150 1,111 - -
Proceeds from Sale of Other Assets 9,316 7,783 8,014 7,466 - -
Total Cash Inflows 12,178,399 17,131,547 10,025,835 2,965,781 101,773 99,920
Adjustments (Please specify) 584,014 724,482 216,981 365,865 19,804 -
Adjusted Cash Inflows 12,762,413 17,856,029 10,242,815 3,331,646 121,577 99,920
Cash Outflows
Equipment 15,622,311 12,051,958 10,796,688 9,398,079 1,587 3,667
Purchase/Acquisition of Investments 9,102,981 20,871,365 9,102,981 8,835,070 - -
Grant of Loans 229,043 99,130 - - - -
Adjustments (Please specify) 457,774 1,106,940 457,365 1,104,769 - -
628
(in thousand pesos)
Total GBE APO

2018 2017 2018 2017 2018 2017

Activities (12,684,600) (16,300,954) (10,149,123) (16,033,862) 119,989 96,253
Cash Inflows
Proceeds from Incurrence of Financial Liabilities 13,333 2,547 13,333 2,547 - -
Acceptances Payable - 58 - 58 - -
Proceeds from Domestic and Foreign Loans 23,935,208 16,880,301 927,406 1,841,454 - -
Equity/Contribution from National Government 4,980,785 4,095,459 9,792 18,434 - -
Total Cash Inflows 28,929,325 20,978,365 950,531 1,862,493 - -
Adjusted Cash Inflows 28,934,818 21,003,544 956,024 1,887,672 - -
Cash Outflows
Payment of Long-Term Liabilities 67,617,335 50,135,208 2,652,084 2,800,508 - 3,402
Payable 2,837,237 21,385,088 2 126 - -
Financial Charges 19,174,745 18,606,627 577,254 506,427 - 283
GOCCs Income 6,717,794 4,950,921 4,203,155 2,908,821 - -
Total Cash Outflows 96,347,111 95,077,844 7,432,495 6,215,883 - 3,685
Adjustments (Please specify) 54,581 55,883 55,256 55,879 1,496 -

Activities (67,466,873) (74,130,183) (6,531,727) (4,384,089) (1,496) (3,685)

EQUIVALENTS 141,747 (7,868,649) 3,699,902 (981,133) 210,934 60,886

Cash Equivalents 86,682 (2,957) 29,986 (2,275) - -
629
(in thousand pesos)

2018 2017 2018 2017 2018 2017
Cash Inflows
Proceeds from Sale of Goods and Services - - - - - -
Collection of Receivables - 70 665 40,815 17,862 13,997
Receipt of Inter-Agency Fund Transfers - - 3,250 - - -
Trust Receipts 4,209 14,174 9,917 4,999 3,331 513
Other Receipts 1,900 2,336 72,534 46,905 2,652 5,716
Adjustments - - - 135 - -
Cash Outflows
Grant of Cash Advances 3,074 4,306 292 5,409 1,519 1,432
Prepayments - - 3,064 16,058 - -
Refund of Deposits - - 5,092 4,373 25 242
Release of Inter-Agency Fund Transfers - - 3,803 24,478 - -
Release of Intra-Agency Fund Transfers - - - - - -
Other Disbursements 9,955 (817) 82,212 - 458 22
Total Cash Outflows 1,036,396 998,813 359,272 275,908 92,442 85,509
Adjustments (43,877) (74,592) 2,266 11,597 - -
Adjusted Cash Outflows 992,519 924,221 361,538 287,505 92,442 85,509

Activities 1,031,343 861,293 473,548 141,499 51,621 41,333
Cash Inflows
Property - - - 2,246 - -
and Equipment - - - - 284 -
Receipt of Cash Dividends - - 5,596 7,336 - -
Proceeds from Matured Investments/Redemption - - 2,473,481 839,338 357,378 505,987
Collection of Long-Term Loans - 106 - - - -
Proceeds from Sale of Other Assets - - - 184 - -
Total Cash Inflows - 106 2,703,281 1,060,440 373,382 516,682
Adjustments (Please specify) - - - 1,898 - -
Adjusted Cash Inflows - 106 2,703,281 1,062,338 373,382 516,682
Cash Outflows
Purchase/Construction of Investment Property - - 747 580 - -
Equipment 464,837 507,208 50,499 7,200 4,165 433
Purchase/Acquisition of Investments - - 2,973,425 1,005,651 423,152 554,928
630
(in thousand pesos)

2018 2017 2018 2017 2018 2017

Activities (464,837) (507,102) (321,391) 48,906 (53,935) (38,678)
Cash Inflows
Total Cash Inflows - - - - - -
Adjusted Cash Inflows - - - - - -
Cash Outflows
Payable - - - - - -
GOCCs Income 344,996 294,690 148,028 137,181 - -

Activities (344,996) (294,690) (148,028) (137,181) - -

EQUIVALENTS 221,510 59,500 4,129 53,224 (2,315) 2,656

Cash Equivalents - - - - - -
CASH AND CASH EQUIVALENTS, DECEMBER 31 1,087,559 866,048 61,503 57,375 3,714 6,028
631
(in thousand pesos)

2018 2017 2018 2017 2018 2017
Cash Inflows
Proceeds from Sale of Goods and Services 1,505 1,548 4,982,347 4,189,825 17,596 13,681
Collection of Receivables 23,718 44,406 32,582 7,113 1,667 337
Trust Receipts - - 1,805 5,760 - -
Other Receipts 24 - - - 2,951 276
Adjustments - - - - 6 -
Cash Outflows
Grant of Cash Advances - - 48,443 2,515 5 -
Prepayments 1,265 - 17,850 17,037 - -
Refund of Deposits - - 387 - - -
Payments of Accounts Payable 3,094 2,244 62,443 233,343 - -
Other Disbursements - - 1,081,382 801,440 - -

Activities 30,404 34,805 2,611,093 2,084,996 (67,045) (32,483)
Cash Inflows
Property - - 85 3,110 - -
Sale of Investments 103,694 217,551 - - - -
Proceeds from Matured Investments/Redemption - - 2,229,651 624 101,304 100,000
Total Cash Inflows 118,682 229,754 2,331,615 89,272 101,304 100,000
Adjusted Cash Inflows 118,682 229,754 2,331,615 89,272 101,304 100,000
Cash Outflows
Equipment - - 36,528 79,810 41,045 39,152
Purchase/Acquisition of Investments 151,218 266,746 1,927,658 4,631,302 - 37,100
632
(in thousand pesos)

2018 2017 2018 2017 2018 2017

Activities (32,536) (36,992) 367,429 (4,621,840) 60,259 23,748
Cash Inflows
Cash Outflows
Payable - - - - - -
GOCCs Income - - 606,807 520,521 - -
Total Cash Outflows - - 606,807 520,521 - -
Adjusted Cash Outflows - - 606,807 520,521 - -

Activities - - (606,807) (520,521) - -

EQUIVALENTS (2,132) (2,187) 2,371,715 (3,057,365) (6,786) (8,735)

Cash Equivalents - - 29,496 (2,299) - -
CASH AND CASH EQUIVALENTS, JANUARY 1 5,732 7,919 1,003,669 4,063,333 98,151 106,886
CASH AND CASH EQUIVALENTS, DECEMBER 31 3,600 5,732 3,404,879 1,003,669 91,364 98,151
633
(in thousand pesos)

2018 2017 2018 2017 2018 2017
Cash Inflows
Collection of Income/Revenue 3,431 150 16,893,484 15,182,310 4,899 3,273
Collection of Receivables 30 178 60,445 39,820 - -
Receipt of Inter-Agency Fund Transfers 4,357 489 - - - -
Trust Receipts - - 3,401,678 2,876,641 - -
Other Receipts - - 2,832,829 4,945,828 210 720
Total Cash Inflows 7,819 817 23,188,436 23,044,600 5,109 3,993
Adjusted Cash Inflows 7,819 817 23,188,436 23,044,600 5,109 3,993
Cash Outflows
Payment of Expenses 521 1,137 8,305,837 8,063,259 6,953 3,877
Grant of Cash Advances - - 413 2,681 25 -
Prepayments - - 2,897,852 3,795,988 - -
Refund of Deposits - - 4,399 29,605 - -
Payments of Accounts Payable 4,057 - - - - -
and Mandatory Deductions 279 43 405,892 424,846 551 179
Release of Inter-Agency Fund Transfers 3,250 - 1,514 339 - -
Release of Intra-Agency Fund Transfers - - 611,448 477,177 - -
Other Disbursements - - 1,652,940 1,295,050 - 277

Activities (288) (362) 9,308,141 8,955,654 (2,420) (340)
Cash Inflows
Property 266 196 - - - -
and Equipment - - - - 6,733 15,798
Receipt of Interest Earned 1 - - - - -
Proceeds from Matured Investments/Redemption - - 3,712,068 - - -
Total Cash Inflows 266 196 3,712,068 - 6,733 15,798
Adjusted Cash Inflows 266 196 3,712,068 - 6,733 15,798
Cash Outflows
Equipment - - 6,056,839 4,210,673 - -
Purchase/Acquisition of Investments - - 2,855,489 1,598,805 - -
Total Cash Outflows - - 8,912,328 5,809,478 - -
Adjusted Cash Outflows - - 8,912,328 5,809,478 - -
634
(in thousand pesos)

2018 2017 2018 2017 2018 2017

Activities 266 196 (5,200,260) (5,809,478) 6,733 15,798
Cash Inflows
Cash Outflows
Payment of Long-Term Liabilities - - 433,245 418,786 - -
Payable - - - - - -
GOCCs Income - - 3,103,323 1,956,429 - -

Activities - - (3,536,568) (2,375,215) - -

EQUIVALENTS (22) (166) 571,313 770,961 4,313 15,458

Cash Equivalents - - 490 24 - -
CASH AND CASH EQUIVALENTS, JANUARY 1 82 249 6,290,801 5,519,816 15,822 364
CASH AND CASH EQUIVALENTS, DECEMBER 31 61 82 6,862,604 6,290,801 20,134 15,822
635
(in thousand pesos)

2018 2017 2018 2017 2018 2017
Cash Inflows
Proceeds from Sale of Goods and Services 2,060,468 1,909,970 3,438,806 4,188,683 - -
Receipt of Assistance/Subsidy 105,668 18,289 1,916,466 4,923,637 514,788 819,389
Receipt of Inter-Agency Fund Transfers 149,373 47,004 2,675,474 83,093 - -
Receipt of Intra-Agency Fund Transfers 130,512 76,410 6,220,581 9,641,013 917,411 696,313
Trust Receipts 197,866 207,574 4,378,266 1,657,808 5,828 21,509
Other Receipts 1,069,792 947,394 2,700,668 1,118,359 340 39
Adjustments 582,507 175,145 421,339 3,416,751 - -
Cash Outflows
Purchase of Inventories 1,150,431 1,169,423 4,185,488 3,331,935 105,409 126,142
Prepayments 88,071 81,659 1,257 1,117 - -
Refund of Deposits 36,660 35,980 46,031 77,055 67 -
Payments of Accounts Payable 2,113,091 1,821,590 3,728,742 4,033,635 - -
and Mandatory Deductions 2,704,499 2,693,458 4,168,180 2,834,531 - -
Contribution - 4 9,486,132 5,152,978 - -
Release of Inter-Agency Fund Transfers 70,197 64,629 4,296,937 2,840,020 - -
Release of Intra-Agency Fund Transfers 132,483 94,733 7,328,668 14,577,266 228,960 4,968,924
Other Disbursements 1,442,215 1,720,921 5,925,972 4,664,962 48,086 -
Adjustments 221,193 105,126 1,090,087 3,165,523 - -

Activities 6,851,915 7,382,106 59,912,470 63,125,670 1,221,145 (3,257,918)
Cash Inflows
Property 4,900 281 1,162,651 - - -
and Equipment 9,751 2,654 79,193 157,623 14,303 -
Sale of Investments 36,026 624 - - - -
Receipt of Interest Earned 38,806 24,373 594,523 235,498 183,578 -
Receipt of Cash Dividends 1,593 32,219 - - - -
Proceeds from Matured Investments/Redemption 474,493 785,175 139,956 13,662,015 - -
Proceeds from Sale of Other Assets 8,014 7,282 1,302 317 - -
Total Cash Inflows 576,732 853,613 2,152,564 14,165,766 197,881 -
Adjusted Cash Inflows 773,909 1,217,580 2,519,598 14,524,383 197,881 -
Cash Outflows
Equipment 4,141,187 4,549,936 4,825,624 2,653,879 1,123,107 478,631
Purchase/Acquisition of Investments 772,039 740,539 - 12,036,295 - -
Purchase of Intangible Assets 13,148 7,570 - - - -
Grant of Loans - - 229,043 99,130 - -
Total Cash Outflows 4,947,384 5,317,483 5,054,666 14,789,304 1,123,107 478,631
Adjustments (Please specify) 457,365 1,104,769 409 2,171 - -
Adjusted Cash Outflows 5,404,749 6,422,252 5,055,076 14,791,476 1,123,107 478,631
636
(in thousand pesos)

2018 2017 2018 2017 2018 2017

Activities (4,630,840) (5,204,672) (2,535,478) (267,092) (925,227) (478,631)
Cash Inflows
Proceeds from Incurrence of Financial Liabilities 13,333 2,547 - - - -
Acceptances Payable - 58 - - - -
Proceeds from Domestic and Foreign Loans 927,406 1,841,454 23,007,801 15,038,847 - -
Equity/Contribution from National Government 9,792 18,434 4,970,993 4,077,025 - -
Total Cash Inflows 950,531 1,862,493 27,978,794 19,115,872 - -
Adjustments (Please specify) 5,493 25,179 - - - -
Adjusted Cash Inflows 956,024 1,887,672 27,978,794 19,115,872 - -
Cash Outflows
Payable 2 126 2,837,235 21,384,962 - -
Financial Charges 577,254 506,144 18,597,491 18,100,200 318,435 237,278
GOCCs Income - - 2,514,639 2,042,099 - -
Adjustments (Please specify) 53,761 55,879 (676) 4 - -

Activities (1,893,832) (1,052,796) (60,935,146) (69,746,094) (537,083) (904,807)

EQUIVALENTS 327,243 1,124,637 (3,558,154) (6,887,517) (241,165) (4,641,357)

Cash Equivalents - - 56,696 (682) - -
CASH AND CASH EQUIVALENTS, JANUARY 1 11,827,203 10,702,566 50,689,343 57,577,542 397,336 5,038,693
637
(in thousand pesos)
LWUA MWSS NEA

2018 2017 2018 2017 2018 2017
(Restated)
Cash Inflows
Collection of Income/Revenue 454,785 476,918 2,625,727 2,349,325 25,913 44,789
Receipt of Assistance/Subsidy 6,657 - - - 622,728 1,850,736
Collection of Receivables 581,715 553,026 154,020 167,282 2,476,229 2,633,088
Receipt of Intra-Agency Fund Transfers - - 9,930 7,597 - -
Trust Receipts 1,839 624 8,706 670 101,292 207,664
Other Receipts 1,305 575 1,268 4,754 949 2,143
Adjustments - - - - 26,421 61,007
Cash Outflows
Prepayments 1,054 896 - - - -
Refund of Deposits 345 100 - - - 650
Payments of Accounts Payable - - 20,938 10,154 69,714 53,655
Contribution 592 - - - 3,062,192 2,064,755
Release of Inter-Agency Fund Transfers 638,883 379,221 155,994 34,401 395 742
Other Disbursements 8,141 530 4,122 10 2,903,029 2,677,407
Adjustments 23,718 (17,089) - - 9,146 523
Adjusted Cash Outflows 1,018,182 687,160 778,281 299,003 6,384,562 5,150,901

Activities 1,231,680 373,139 2,039,580 2,239,678 (3,131,030) (351,473)
Cash Inflows
Property - - 1,162,651 - - -
and Equipment - - 4,013 - - -
Receipt of Interest Earned 7,461 11,358 41,317 - - -
Proceeds from Matured Investments/Redemption 41,925 3,726 3,999 - - -
Collection of Long-Term Loans 174,939 110,313 - - - -
Total Cash Inflows 224,325 125,396 1,211,980 - - -
Adjusted Cash Inflows 224,325 125,396 1,211,980 - - -
Cash Outflows
Equipment 40,243 8,793 1,210,859 166,647 658 5,358
Grant of Loans 229,043 99,130 - - - -
Total Cash Outflows 269,286 107,923 1,210,859 166,647 658 5,358
Adjusted Cash Outflows 269,286 107,923 1,210,859 166,647 658 5,358
638
(in thousand pesos)
LWUA MWSS NEA

2018 2017 2018 2017 2018 2017
(Restated)

Activities (44,961) 17,473 1,121 (166,647) (658) (5,358)
Cash Inflows
Proceeds from Domestic and Foreign Loans 7,704 - 97 38,847 - -
Equity/Contribution from National Government 79,792 41,964 - - - -
Total Cash Inflows 87,496 41,964 97 38,847 - -
Adjusted Cash Inflows 87,496 41,964 97 38,847 - -
Cash Outflows
Payment of Long-Term Liabilities 569,613 613,745 3,239,925 1,433,479 982,236 33,187
Payable - - - - - -
GOCCs Income 300,529 319,076 611,074 232,633 86,905 69,989
Total Cash Outflows 964,647 1,032,920 3,850,999 1,666,112 1,069,140 103,176
Adjusted Cash Outflows 964,647 1,032,920 3,850,999 1,666,112 1,069,140 103,176

Activities (877,150) (990,956) (3,850,901) (1,627,264) (1,069,140) (103,176)

EQUIVALENTS 309,569 (600,345) (1,810,200) 445,767 (4,200,829) (460,006)

Cash Equivalents - - 76 46 466 -
639
(in thousand pesos)
NPC PNR PPC

2018 2017 2018 2017 2018 2017
(Restated)
Cash Inflows
Proceeds from Sale of Goods and Services - - - - 2,800,959 3,087,085
Collection of Income/Revenue 14,827,682 14,224,961 275,268 257,361 - -
Receipt of Assistance/Subsidy 349,890 1,191,680 131,670 525,295 290,734 536,537
Collection of Receivables 144,712 196,178 172,240 135,784 1,141,595 987,397
Receipt of Inter-Agency Fund Transfers - - 1,453,703 3,895 - -
Receipt of Intra-Agency Fund Transfers 22,172 - - - 5,271,069 8,937,103
Trust Receipts 32,297 4,447 3,114 398 3,832,196 1,237,996
Other Receipts 1,200,984 899,562 4,450 5,734 976,384 185,950
Total Cash Inflows 16,577,738 16,516,828 2,040,445 928,467 14,312,936 14,972,068
Adjustments - - 298 96 388,475 3,333,312
Adjusted Cash Inflows 16,577,738 16,516,828 2,040,743 928,563 14,701,411 18,305,380
Cash Outflows
Payment of Expenses 2,496,158 1,972,391 595,663 891,858 2,233,942 1,975,176
Purchase of Inventories 4,029,939 3,113,451 - - 37,567 84,381
Prepayments - - 15 - 188 220
Refund of Deposits 5,539 6,052 348 - 22,339 33,468
Payments of Accounts Payable - - - - 475,150 1,016,676
and Mandatory Deductions 3,196,852 2,023,621 - - 681,902 596,466
Contribution 6,273,413 2,922,556 - - 2,050 -
Release of Inter-Agency Fund Transfers - 24,554 - - - -
Release of Intra-Agency Fund Transfers - - - - 6,956,753 9,522,489
Other Disbursements 34,483 39,775 - - 2,927,333 1,240,206
Total Cash Outflows 16,065,463 10,142,982 597,736 894,443 13,410,228 14,483,628
Adjustments - - (51) 8 972,695 3,165,946
Adjusted Cash Outflows 16,065,463 10,142,982 597,685 894,451 14,382,923 17,649,574

Activities 512,274 6,373,846 1,443,058 34,112 318,489 655,806
Cash Inflows
and Equipment - - 21,457 16,386 15 107
Receipt of Interest Earned 353,417 217,595 - - 8,750 6,546
Proceeds from Matured Investments/Redemption 94,031 852,966 - - - -
Proceeds from Sale of Other Assets 1,280 317 - - 22 0
Total Cash Inflows 448,729 1,070,878 21,457 16,386 8,786 6,653
Adjustments (Please specify) - - (207) - 5,724 89
Adjusted Cash Inflows 448,729 1,070,878 21,251 16,386 14,510 6,742
Cash Outflows
Equipment 1,334,352 1,089,061 74,910 82,526 20,798 19,034
Adjustments (Please specify) - - - - 409 2,096
640
(in thousand pesos)
NPC PNR PPC

2018 2017 2018 2017 2018 2017
(Restated)

Activities (885,624) (18,184) (53,659) (66,140) (6,697) (14,388)
Cash Inflows
Cash Outflows
Payment of Long-Term Liabilities 69,161 52,002 10,706 14,510 - 45,379
Payable - - - - - -
Financial Charges 5,793 7,059 1,466 732 0 2,432
GOCCs Income 1,410,309 1,398,936 - - 105,823 21,466
Adjustments (Please specify) 30 4 (706) - - -

Activities (1,485,293) (1,458,002) (11,466) (15,242) (105,823) (69,277)

EQUIVALENTS (1,858,643) 4,897,660 1,377,933 (47,270) 205,969 572,141

Cash Equivalents 12,775 12,478 - - 13,084 (479)
CASH AND CASH EQUIVALENTS, JANUARY 1 19,585,410 14,675,271 312,112 359,382 2,882,267 2,310,606
CASH AND CASH EQUIVALENTS, DECEMBER 31 17,739,542 19,585,410 1,690,045 312,112 3,101,320 2,882,267
641
(in thousand pesos)
PSALM TRANSCO
2018 2017 2018 2017
Cash Inflows
Proceeds from Sale of Goods and Services 637,847 1,101,598 - -
Collection of Income/Revenue 86,267,409 82,723,947 96,766 105,157
Receipt of Assistance/Subsidy - - - -
Collection of Receivables 35,626,774 32,724,168 168 2,383
Receipt of Inter-Agency Fund Transfers - 40,989 - -
Receipt of Intra-Agency Fund Transfers - - - -
Trust Receipts 392,917 184,369 78 133
Other Receipts 509,566 19,032 5,422 570
Total Cash Inflows 123,434,513 116,794,103 102,433 108,243
Adjustments - - 6,144 22,336
Adjusted Cash Inflows 123,434,513 116,794,103 108,578 130,579
Cash Outflows
Payment of Expenses 59,975,248 53,301,327 295,685 223,657
Purchase of Inventories 2,184 2,636 - -
Grant of Cash Advances 8,274 13,047 - -
Prepayments - - - -
Refund of Deposits 15,347 31,360 2,046 5,425
Payments of Accounts Payable 3,071,446 2,942,803 91,494 10,347
and Mandatory Deductions 40,822 45,330 28,363 334
Contribution 147,884 165,666 - -
Release of Inter-Agency Fund Transfers 3,499,360 2,401,102 2,305 -
Release of Intra-Agency Fund Transfers - - - -
Other Disbursements - 704,013 779 3,021
Total Cash Outflows 66,760,566 59,607,283 420,671 242,783
Adjustments - - 84,579 16,135
Adjusted Cash Outflows 66,760,566 59,607,283 505,250 258,918

Activities 56,673,947 57,186,819 (396,672) (128,339)
Cash Inflows
Property - - - -
and Equipment - - 39,406 141,130
Sale of Investments - - - -
Receipt of Interest Earned - - - -
Receipt of Cash Dividends - - - -
Proceeds from Matured Investments/Redemption - 12,805,324 - -
Collection of Long-Term Loans - - - -
Proceeds from Sale of Other Assets - - - -
Total Cash Inflows - 12,805,324 39,406 141,130
Adjustments (Please specify) - - 361,517 358,527
Adjusted Cash Inflows - 12,805,324 400,923 499,657
Cash Outflows
Purchase/Construction of Investment Property - - - -
Equipment 152,924 116,192 867,771 687,636
Purchase/Acquisition of Investments - 12,036,295 - -
Purchase of Intangible Assets - - - -
Grant of Loans - - - -
Total Cash Outflows 152,924 12,152,487 867,771 687,636
Adjustments (Please specify) - - 1 75
Adjusted Cash Outflows 152,924 12,152,487 867,772 687,711
642
(in thousand pesos)
PSALM TRANSCO
2018 2017 2018 2017

Activities (152,924) 652,837 (466,849) (188,054)
Cash Inflows
Proceeds from Incurrence of Financial Liabilities - - - -
Acceptances Payable - - - -
Proceeds from Domestic and Foreign Loans 23,000,000 15,000,000 - -
Equity/Contribution from National Government 3,619,589 4,035,060 1,271,611 -
Total Cash Inflows 26,619,589 19,035,060 1,271,611 -
Adjustments (Please specify) - - - -
Adjusted Cash Inflows 26,619,589 19,035,060 1,271,611 -
Cash Outflows
Payment of Long-Term Liabilities 59,874,960 44,474,869 - -
Payable 2,837,235 21,384,962 - -
Other Equity Securities - - - -
Financial Charges 18,177,292 17,752,600 - -
GOCCs Income - - - -
Total Cash Outflows 80,889,488 83,612,431 - -
Adjusted Cash Outflows 80,889,488 83,612,431 - -

Activities (54,269,899) (64,577,371) 1,271,611 -

EQUIVALENTS 2,251,124 (6,737,714) 408,089 (316,393)

Cash Equivalents 27,802 (12,750) 2,492 24
CASH AND CASH EQUIVALENTS, JANUARY 1 9,752,831 16,503,295 807,669 1,124,038
CASH AND CASH EQUIVALENTS, DECEMBER 31 12,031,757 9,752,831 1,218,251 807,669
643
(in thousand pesos)

2018 2017 2018 2017 2018 2017
Cash Inflows
Receipt of Assistance/Subsidy 298,684 1,012,967 174,378 866,098 - -
Collection of Receivables 12,326,432 14,768,025 12,254,977 14,627,411 237,295 227,436
Receipt of Inter-Agency Fund Transfers 3,094,526 572,831 3,054,687 572,825 79,801 61,702
Receipt of Intra-Agency Fund Transfers 555,047 389,734 341,867 86,334 - -
Trust Receipts 6,253,399 6,044,823 6,179,947 5,983,203 41,536 30,901
Other Receipts 1,067,603 1,793,692 990,850 1,742,641 15,894 8,344
Adjustments 56,039 40,052 55,738 39,800 399 -
Cash Outflows
Grant of Cash Advances 1,382,531 1,380,617 1,358,011 1,349,557 2,615 3,372
Prepayments 18,647 53,848 17,091 8,693 5,274 5,334
Refund of Deposits 1,972,373 2,173,995 1,961,808 2,172,661 10,311 -
Payments of Accounts Payable 1,022,225 827,835 820,652 689,977 51,234 56,472
Contribution 652,753 2,288,530 596,465 2,262,790 - -
Release of Intra-Agency Fund Transfers 231,045 196,204 13,704 14,939 - -
Other Disbursements 10,193,766 11,538,361 10,129,288 11,472,321 129,455 90,700
Adjustments 110,850 766,038 110,162 765,286 (21) -

Activities 34,580,060 29,147,453 31,992,748 26,491,895 197,352 197,555
Cash Inflows
Property 2,489 1,790 2,489 1,790 - -
and Equipment 4,596 29,000 4,573 28,958 2,719 406
Sale of Investments 23,390,658 9,790,538 23,390,658 9,790,538 5,243 -
Receipt of Cash Dividends 568,832 764,901 568,832 764,901 - -
Proceeds from Sale of Other Assets 91,532 4,721 91,532 4,721 - -
Adjustments (Please specify) 0 17,000 0 17,000 - -
Cash Outflows
Purchase/Construction of Investment Property 87,780 72,051 87,780 72,051 17,624 3,770
Equipment 5,089,416 7,126,843 4,543,625 6,626,485 358,031 221,608
Purchase of Intangible Assets 12,040 2,922 12,040 2,922 10,940 2,884
644
(in thousand pesos)

2018 2017 2018 2017 2018 2017

Activities (13,412,443) (27,213,663) (9,295,180) (27,930,238) (375,864) (225,083)
Cash Inflows
Proceeds from Incurrence of Financial Liabilities 1,664 6,461 1,664 6,461 - -
Equity/Contribution from National Government 1,926,292 5,108,640 1,926,292 5,108,640 114,645 97,582
other Equity Securities - 2 - - - -
Cash Outflows
Other Equity Securities 805 437 805 437 - -
Financial Charges 449,316 415,327 449,315 414,973 - -
GOCCs Income 11,096,133 6,845,348 11,052,822 6,797,045 74,134 29,111

Activities (20,490,506) (9,907,314) (20,352,483) (9,768,838) (9,489) (31,529)

EQUIVALENTS 677,111 (7,973,524) 2,345,085 (11,207,181) (188,000) (59,057)

Cash Equivalents 499,671 (23,044) 499,619 (23,068) 1,054 (21)
645
(in thousand pesos)

2018 2017 2018 2017 2018 2017
(Restated)
Cash Inflows
Proceeds from Sale of Goods and Services 4,774,154 531,051 - - - -
Collection of Income/Revenue 1,486,470 8,024,929 10 27 327,593 217,504
Receipt of Assistance/Subsidy - - - - 118,611 816,021
Collection of Receivables 1,612,953 1,352,420 7,326 10,212 2,201,732 1,817,298
Receipt of Inter-Agency Fund Transfers 1,485,063 - - - 909 299
Receipt of Intra-Agency Fund Transfers 2,180 - - 724 89,429 22,821
Trust Receipts 421,111 144,450 - - 254,749 202,249
Other Receipts 59,022 3,014 152 40 153,650 -
Total Cash Inflows 9,840,952 10,055,865 7,488 11,003 3,146,673 3,076,192
Adjusted Cash Inflows 9,840,952 10,055,865 7,488 11,003 3,146,673 3,076,192
Cash Outflows
Payment of Expenses 558,842 491,373 126 1,051 494,877 398,449
Grant of Cash Advances 20,438 17,034 - - - -
Prepayments 2,051 - - - - -
Refund of Deposits - - - - 6,967 2,161
Payments of Accounts Payable - - - - 538,373 412,395
and Mandatory Deductions 115,087 64,974 70 1,905 64,185 -
Contribution 483,380 1,413,763 - - 106,406 849,028
Release of Inter-Agency Fund Transfers 308,674 197,600 - - 20,000 44,678
Other Disbursements 3,892,355 5,739,266 - - - 1,620
Adjustments - - - - 85,477 720,889

Activities 4,460,125 2,131,855 (863) (1,710) 1,830,388 646,973
Cash Inflows
Receipt of Cash Dividends 472,610 483,121 - - - -
Proceeds from Matured Investments/Redemption 18,275,444 14,267,535 236,274 - - -
Total Cash Inflows 19,146,084 15,073,597 238,009 2,482 - -
Adjustments (Please specify) - 17,000 - - - -
Adjusted Cash Inflows 19,146,084 15,090,597 238,009 2,482 - -
Cash Outflows
Equipment 1,606,244 682,976 - - 372,223 538,935
Purchase/Acquisition of Investments 16,863,290 12,989,772 242,702 2,482 200,000 100,000
Adjustments (Please specify) 19,000 - - - 173 4,321
646
(in thousand pesos)

2018 2017 2018 2017 2018 2017
(Restated)

Activities 587,394 1,349,568 (4,693) - (572,396) (643,256)
Cash Inflows
Equity/Contribution from National Government 1,121,693 1,350,590 - - - -
Total Cash Inflows 1,121,693 1,350,590 - - - -
Adjustments (Please specify) 455,610 201,642 - - 1,942 2,134
Cash Outflows
Payment of Long-Term Liabilities 929,248 860,352 - - - 20,633
GOCCs Income 905,743 130,025 - - - -
Total Cash Outflows 2,076,110 1,195,614 - - - 20,633
Adjustments (Please specify) 302,620 250,000 - - 700,000 500,000
Adjusted Cash Outflows 2,378,730 1,445,614 - - 700,000 520,633

Activities (801,427) 106,618 - - (698,058) (518,499)

EQUIVALENTS 4,246,092 3,588,041 (5,556) (1,710) 559,935 (514,782)

Cash Equivalents 72 (9) - - 23,357 (4,152)
CASH AND CASH EQUIVALENTS, DECEMBER 31 10,354,618 6,108,454 9,011 14,567 2,441,691 1,858,399
647
(in thousand pesos)

2018 2017 2018 2017 2018 2017
Cash Inflows
Collection of Income/Revenue 481,434 418,214 114,028 82,220 15 10
Collection of Receivables 576,639 467,633 665 281 181 5
Trust Receipts 37,569 20,398 284 100 - -
Other Receipts 408,642 444,262 976 1,652 83 202
Total Cash Inflows 2,885,612 1,743,232 220,253 187,272 279 217
Adjustments 13,801 3,228 39,630 15,215 158 -
Adjusted Cash Inflows 2,899,413 1,746,461 259,883 202,487 437 217
Cash Outflows
Purchase of Inventories - - 814 1,969 87 227
Grant of Cash Advances 4,152 3,705 2,554 2,954 642 953
Prepayments - - 993 242 366 581
Payments of Accounts Payable 202,476 186,989 4,723 - - -
Contribution 6,679 - - - - -
Other Disbursements 435,799 321,443 95 18,756 - -
Total Cash Outflows 1,008,449 794,356 217,858 185,915 51,265 45,310
Adjustments 3,103 5,611 19,195 10,845 - -
Adjusted Cash Outflows 1,011,552 799,967 237,054 196,760 51,265 45,310

Activities 1,887,861 946,494 22,830 5,728 (50,828) (45,092)
Cash Inflows
Property - - 2,489 - - -
Sale of Investments - - - - 11,144 10,683
Receipt of Interest Earned - - - - 16,991 37,216
Proceeds from Matured Investments/Redemption 364,457 768,040 - 1,605 - -
Total Cash Inflows 364,457 768,040 2,489 1,605 28,135 47,899
Adjusted Cash Inflows 364,457 768,040 2,489 1,605 28,135 47,899
Cash Outflows
Equipment 142,898 380,523 1,533 1,213 7 211
Purchase/Acquisition of Investments 335,742 897,875 - - - -
Purchase of Intangible Assets - - 1,101 38 - -
Total Cash Outflows 478,640 1,278,398 2,633 1,251 7 211
Adjusted Cash Outflows 478,640 1,278,398 2,633 1,251 7 211
648
(in thousand pesos)

2018 2017 2018 2017 2018 2017

Activities (114,183) (510,359) (144) 354 28,127 47,688
Cash Inflows
Cash Outflows
Financial Charges 17,225 20,004 - - - 380
GOCCs Income - 86,881 - - - -
Total Cash Outflows 113,826 243,487 - - - 380
Adjusted Cash Outflows 113,826 243,487 - - - 380

Activities (113,826) (243,487) - - - (380)

EQUIVALENTS 1,659,852 192,648 22,686 6,082 (22,701) 2,216

Cash Equivalents - - 0 (0) 10,713 995
CASH AND CASH EQUIVALENTS, DECEMBER 31 2,133,457 473,605 105,141 82,455 575,998 587,986
649
(in thousand pesos)

2018 2017 2018 2017 2018 2017
Cash Inflows
Receipt of Assistance/Subsidy - - - 77 5,686 -
Collection of Receivables 29,415 7,534 - - 13,077 44,105
Receipt of Inter-Agency Fund Transfers - - - - 284 80
Receipt of Intra-Agency Fund Transfers 97,183 62,790 - - - -
Trust Receipts - - 3,133 576 6,691 227
Other Receipts 1,835 918 4,169 4,306 7,657 717
Adjustments - - - - 1,751 132
Cash Outflows
Payment of Expenses 106,794 75,181 4,897,003 7,730,169 136,708 107,685
Grant of Cash Advances - - - - 9,828 3,833
Prepayments - - 2,212 2,307 6,194 228
Refund of Deposits - - - - 5,560 903
and Mandatory Deductions 58,058 65,082 - - 112,450 119,937

Activities 24,085 (2,371) 9,349,472 5,674,856 319,332 24,548
Cash Inflows
and Equipment - - - - - 533
Receipt of Interest Earned 237 804 46,316 58,021 5,229 5,167
Proceeds from Matured Investments/Redemption 50,941 - 2,997,672 351,760 - -
Total Cash Inflows 51,178 804 3,043,988 409,781 5,229 5,700
Adjusted Cash Inflows 51,178 804 3,043,988 409,781 5,229 5,700
Cash Outflows
Equipment - 5,466 679,255 393,943 192,282 1,294
Purchase/Acquisition of Investments 70,000 - 8,068,119 5,209,597 - -
650
(in thousand pesos)

2018 2017 2018 2017 2018 2017

Activities (18,822) (4,662) (5,703,385) (5,193,759) (187,053) 4,406
Cash Inflows
Proceeds from Incurrence of Financial Liabilities - 5,263 - - - -
Total Cash Inflows - 5,263 - - - -
Adjusted Cash Inflows - 5,263 - - - -
Cash Outflows
GOCCs Income - - 6,224,969 2,080,156 - 240,592
Total Cash Outflows - - 6,224,969 2,080,156 - 240,592
Adjusted Cash Outflows - - 6,224,969 2,080,156 - 240,592

Activities - 5,263 (6,224,969) (2,080,156) - (240,592)

EQUIVALENTS 5,263 (1,770) (2,578,882) (1,599,059) 132,279 (211,638)

Cash Equivalents - - 60,852 33,347 26,917 869
651
(in thousand pesos)

2018 2017 2018 2017 2018 2017
Cash Inflows
Collection of Income/Revenue - - 1,403,638 1,312,993 13,856,876 13,398,803
Collection of Receivables - - - - - -
Trust Receipts - - - - 3,233,907 3,174,908
Other Receipts - - 123,939 106,974 78,583 93,373
Total Cash Inflows - - 1,527,577 1,419,967 17,169,366 16,667,084
Adjustments - - - 12,975 - -
Adjusted Cash Inflows - - 1,527,577 1,432,942 17,169,366 16,667,084
Cash Outflows
Payment of Expenses 8 10 938,662 326,982 7,105,779 6,625,423
Grant of Cash Advances - - 7,861 11,579 1,447 2,673
and Mandatory Deductions - - 16,366 329,682 - -
Release of Inter-Agency Fund Transfers - - - - 21,383 18,520
Other Disbursements - - - - 1,158,432 1,328,865
Adjustments - - 2,406 27,941 - -

Activities (8) (10) 562,282 736,758 8,882,325 8,691,603
Cash Inflows
Sale of Investments - - - - 23,374,271 9,779,855
Receipt of Interest Earned 393 407 - - 71,567 75,912
Proceeds from Matured Investments/Redemption - - - - - -
Total Cash Inflows 393 407 - - 23,445,838 9,855,766
Adjusted Cash Inflows 393 407 - - 23,445,838 9,855,766
Cash Outflows
Equipment - - 278,851 127,461 481,062 3,851,313
Purchase/Acquisition of Investments - - 100,000 1,617,088 23,958,661 20,693,645
Total Cash Outflows - - 378,851 1,744,550 24,439,722 24,544,958
Adjustments (Please specify) - - (2) - - -
Adjusted Cash Outflows - - 378,849 1,744,550 24,439,722 24,544,958
652
(in thousand pesos)

2018 2017 2018 2017 2018 2017

Activities 393 407 (378,849) (1,744,550) (993,884) (14,689,192)
Cash Inflows
Equity/Contribution from National Government - - - - - 3,609,522
Total Cash Inflows - - - - - 3,609,522
Adjusted Cash Inflows - - - - - 3,609,522
Cash Outflows
Payment of Long-Term Liabilities 1,052 88 - - 1,107,567 1,091,082
Financial Charges 166 202 - - - -
GOCCs Income - - 220,677 170,404 2,250,721 2,226,520
Total Cash Outflows 1,218 290 220,677 170,404 3,358,288 3,317,602
Adjustments (Please specify) - - - - 3,223,559 3,075,499
Adjusted Cash Outflows 1,218 290 220,677 170,404 6,581,847 6,393,101

Activities (1,218) (290) (220,677) (170,404) (6,581,847) (2,783,579)

EQUIVALENTS (833) 107 (37,244) (1,178,195) 1,306,594 (8,781,167)

Cash Equivalents - - 17,018 (134) (58) (2,766)
653
(in thousand pesos)

2018 2017 2018 2017 2018 2017
Cash Inflows
Proceeds from Sale of Goods and Services 23,478 7,648 - - - -
Collection of Income/Revenue - - 135,529 170,971 17,948 17,967
Collection of Receivables 530 455 17,414 9,120 26 52
Other Receipts - - - - - -
Cash Outflows
Grant of Cash Advances 20 20 - 216 - -
Payments of Accounts Payable 319 166 - - - -
and Mandatory Deductions - - - - 281 208
Release of Inter-Agency Fund Transfers 130 130 - - - -
Other Disbursements - - - - 5,025 5,136
Total Cash Outflows 22,726 8,611 254,545 368,451 9,975 9,588

Activities 1,282 (507) (101,602) (188,360) 8,000 8,431
Cash Inflows
Property - - - 1,770 - -
Receipt of Interest Earned - - 27,824 31,550 0 0
Proceeds from Matured Investments/Redemption - - 1,273,774 37,666 2,452 7
Collection of Long-Term Loans - - 18,003 18,781 - -
Proceeds from Sale of Other Assets - - 91,532 4,721 - -
Total Cash Inflows - - 1,446,477 312,325 2,452 7
Adjusted Cash Inflows - - 1,446,477 312,325 2,452 7
Cash Outflows
Equipment 919 - - - 25 -
Purchase/Acquisition of Investments - - - 27,508 23,995 2,445
Total Cash Outflows 919 - - 27,508 24,020 2,445
Adjusted Cash Outflows 919 - - 27,508 24,020 2,445
654
(in thousand pesos)

2018 2017 2018 2017 2018 2017

Activities (919) - 1,446,477 284,817 (21,567) (2,438)
Cash Inflows
Cash Outflows
Payment of Long-Term Liabilities - - 1,173,200 - - -
GOCCs Income - - 160,592 102,521 8,417 8,723
Total Cash Outflows - - 1,333,792 102,521 8,417 8,723
Adjusted Cash Outflows - - 1,333,792 102,521 8,417 8,723

Activities - - (1,333,792) (102,521) (8,417) (8,723)

EQUIVALENTS 363 (507) 11,083 (6,064) (21,985) (2,730)

Cash Equivalents 72 315 18 3,882 - -
CASH AND CASH EQUIVALENTS, JANUARY 1 720 913 1,945 4,126 23,940 26,670
CASH AND CASH EQUIVALENTS, DECEMBER 31 1,155 720 13,046 1,945 1,955 23,940
655
(in thousand pesos)
FCIEI GYREI IIGSI

2018 2017 2018 2017 2018 2017
Cash Inflows
Collection of Income/Revenue 3,123 3,945 7,242 40,519 - -
Collection of Receivables 65 55 - - - -
Other Receipts - 33 - - - -
Total Cash Inflows 3,188 4,032 7,242 40,519 - -
Adjusted Cash Inflows 3,188 4,032 7,242 40,519 - -
Cash Outflows
Payment of Expenses 3,539 3,599 15,581 12,614 - -
Payments of Accounts Payable 5 8 - - - -
and Mandatory Deductions - - - - - -
Release of Inter-Agency Fund Transfers - 441 - - - -
Other Disbursements - - 2,536 10,349 - -

Activities (355) (16) (10,875) 17,556 - -
Cash Inflows
Receipt of Interest Earned 16 14 - - 0 0
Total Cash Inflows 16 14 - - 0 0
Adjusted Cash Inflows 16 14 - - 0 0
Cash Outflows
Equipment - - - - - -
Purchase/Acquisition of Investments 1,199 - 21,991 - - -
Total Cash Outflows 1,199 - 21,991 - - -
Adjusted Cash Outflows 1,199 - 21,991 - - -
656
(in thousand pesos)
FCIEI GYREI IIGSI

2018 2017 2018 2017 2018 2017

Activities (1,183) 14 (21,991) - 0 0
Cash Inflows
Cash Outflows
GOCCs Income - - 17,640 18,066 - -
Total Cash Outflows - - 17,640 18,066 - -
Adjusted Cash Outflows - - 17,640 18,066 - -

Activities - - (17,640) (18,066) - -

EQUIVALENTS (1,539) (1) (50,506) (510) 0 0

CASH AND CASH EQUIVALENTS, JANUARY 1 1,832 1,834 52,297 52,808 115 114
CASH AND CASH EQUIVALENTS, DECEMBER 31 294 1,832 1,791 52,297 115 115
657
(in thousand pesos)
KRC MGC NPIC

2018 2017 2018 2017 2018 2017
Cash Inflows
Collection of Income/Revenue 11,141 13,643 5 - 549 615
Collection of Receivables 3 59 106 30 272 231
Total Cash Inflows 11,144 13,702 110 30 820 846
Adjusted Cash Inflows 11,144 13,702 110 30 820 846
Cash Outflows
Payment of Expenses 1,992 1,683 - - 701 531
Payments of Accounts Payable - - 31 1,149 4 2
and Mandatory Deductions - - 66 202 - -
Other Disbursements 3,299 16,193 1,271 1,837 - -
Total Cash Outflows 5,291 17,876 1,368 3,188 705 533
Adjusted Cash Outflows 5,291 17,876 1,368 3,188 705 533

Activities 5,853 (4,174) (1,257) (3,158) 115 313
Cash Inflows
Property - - - 20 - -
and Equipment - 26,400 - - - -
Receipt of Interest Earned - - 562 921 - -
Proceeds from Matured Investments/Redemption 13,107 - - - - -
Total Cash Inflows 13,107 26,400 562 941 - -
Adjusted Cash Inflows 13,107 26,400 562 941 - -
Cash Outflows
Equipment - - - - - -
Purchase/Acquisition of Investments 11,984 13,107 - - 47,206 -
Total Cash Outflows 11,984 13,107 - - 47,206 -
Adjusted Cash Outflows 11,984 13,107 - - 47,206 -
658
(in thousand pesos)
KRC MGC NPIC

2018 2017 2018 2017 2018 2017

Activities 1,124 13,293 562 941 (47,206) -
Cash Inflows
Cash Outflows
GOCCs Income 24,925 3,959 - 39,997 546 -
Total Cash Outflows 24,925 3,959 - 39,997 546 -
Adjusted Cash Outflows 24,925 3,959 - 39,997 546 -

Activities (24,925) (3,959) - (39,997) (546) -

EQUIVALENTS (17,948) 5,160 (695) (42,214) (47,637) 313

659
(in thousand pesos)
PRC PADC PEZA

2018 2017 2018 2017 2018 2017
(Restated)
Cash Inflows
Proceeds from Sale of Goods and Services - - - - 4,783,980 4,711,243
Collection of Receivables - - 369 1,705 4,122,107 5,608,523
Receipt of Intra-Agency Fund Transfers - - - - 153,075 -
Adjusted Cash Inflows 2,139 2,117 46,795 49,881 9,059,162 10,319,766
Cash Outflows
Payment of Expenses 407 227 33,780 33,642 492,327 533,685
Grant of Cash Advances - - - - 1,253,944 1,247,890
and Mandatory Deductions - - 6,370 5,596 1,192,225 1,716,555
Release of Inter-Agency Fund Transfers - - - - 14,408 17,023
Other Disbursements 589 644 - - 4,482,382 3,931,213

Activities 1,142 1,246 6,645 10,643 1,623,877 2,873,400
Cash Inflows
Receipt of Interest Earned - - 190 312 769 3,190
Proceeds from Matured Investments/Redemption - - - - 1,604,781 452,034
Total Cash Inflows - - 5,498 5,500 1,605,549 455,223
Adjustments (Please specify) 0 0 - - - -
Adjusted Cash Inflows 0 0 5,498 5,500 1,605,549 455,223
Cash Outflows
Equipment - - 373 112 29,924 256,770
Purchase/Acquisition of Investments - - - - 2,328,075 2,450,920
Total Cash Outflows - - 373 112 2,357,999 2,707,689
Adjusted Cash Outflows - - 373 112 2,357,999 2,707,689
660
(in thousand pesos)
PRC PADC PEZA

2018 2017 2018 2017 2018 2017
(Restated)

Activities 0 0 5,125 5,388 (752,450) (2,252,466)
Cash Inflows
Cash Outflows
Payment of Long-Term Liabilities - - - - 11,666 13,023
Financial Charges - - - - 2,076 149
GOCCs Income 1,175 1,147 - - 677,509 635,143

Activities (1,175) (1,147) - - (692,381) (649,333)

EQUIVALENTS (33) 99 11,769 16,030 179,046 (28,399)

Cash Equivalents - - 116 5 352 1,797
661
(in thousand pesos)

2018 2017 2018 2017 2018 2017
Cash Inflows
Collection of Receivables 873,230 773,267 - - 49 2
Trust Receipts 6,308 810 - - - -
Other Receipts - - 38,065 37,812 - -
Total Cash Inflows 997,282 890,610 234,435 262,002 49 2
Adjusted Cash Inflows 997,282 890,610 234,435 262,002 49 2
Cash Outflows
Purchase of Inventories 679 2,666 - - 129 107

Activities 531,195 405,703 84,728 132,695 (1,336) (1,227)
Cash Inflows
and Equipment - - - 1,194 - -
Proceeds from Matured Investments/Redemption - - - - - 2,135
Cash Outflows
Equipment 124,338 31,290 727 719 - -
Total Cash Outflows 124,338 31,290 727 719 - -
Adjustments (Please specify) - - 86,620 225,724 - -
662
(in thousand pesos)

2018 2017 2018 2017 2018 2017

Activities (113,998) (22,359) (25,037) (160,437) 2,601 4,774
Cash Inflows
Cash Outflows
GOCCs Income 221,372 97,029 - - 1,502 3,172

Activities (595,703) (461,336) - - (1,502) (3,172)

EQUIVALENTS (178,506) (77,992) 59,690 (27,741) (237) 375

CASH AND CASH EQUIVALENTS, JANUARY 1 922,010 1,000,002 145,468 173,209 1,359 984
663
(in thousand pesos)

2018 2017 2018 2017 2018 2017
Cash Inflows
Collection of Income/Revenue 221 13 1,063 1,727 215,564 268,804
Collection of Receivables - - - - 507,015 2,830,238
Trust Receipts - - - - 21 3
Other Receipts - - - - 1,392 1,720
Total Cash Inflows 221 13 1,063 1,727 723,991 3,100,765
Adjustments - - - - - 8,249
Adjusted Cash Inflows 221 13 1,063 1,727 723,991 3,109,014
Cash Outflows
Payment of Expenses - - - - 368,091 1,193,528
Grant of Cash Advances - - - 444 - -
and Mandatory Deductions - - 84 3,456 112,228 173,518
Release of Intra-Agency Fund Transfers - - - - 924 -
Other Disbursements - - 529 767 17,519 5,532
Total Cash Outflows - - 613 4,667 516,112 1,402,663
Adjusted Cash Outflows - - 613 4,667 516,112 1,402,663

Activities 221 13 450 (2,939) 207,879 1,706,350
Cash Inflows
and Equipment - - 583 424 - -
Receipt of Interest Earned 0 1 10 18 153,665 118,226
Total Cash Inflows 0 1 594 442 153,665 118,226
Adjusted Cash Inflows 0 1 594 442 153,665 118,226
Cash Outflows
Equipment - - - - 6,207 1,399
Purchase/Acquisition of Investments - - - - 1,907,039 2,658,810
Total Cash Outflows - - - - 1,913,246 2,660,208
Adjusted Cash Outflows - - - - 1,913,246 2,660,208
664
(in thousand pesos)

2018 2017 2018 2017 2018 2017

Activities 0 1 594 442 (1,759,581) (2,541,983)
Cash Inflows
Proceeds from Incurrence of Financial Liabilities - - - 444 - -
Total Cash Inflows - - - 444 - -
Adjusted Cash Inflows - - - 444 - -
Cash Outflows
Payment of Long-Term Liabilities - - - - 110,460 -
Other Equity Securities 221 13 583 424 - -
Total Cash Outflows 221 13 583 424 110,460 -
Adjusted Cash Outflows 221 13 583 424 876,868 323,761

Activities (221) (13) (583) 21 (876,868) (323,761)

EQUIVALENTS 0 1 460 (2,477) (2,428,570) (1,159,393)

CASH AND CASH EQUIVALENTS, JANUARY 1 567 567 12,563 15,040 3,580,248 4,739,642
CASH AND CASH EQUIVALENTS, DECEMBER 31 568 567 13,023 12,563 1,151,678 3,580,248
665
(in thousand pesos)

2018 2017 2018 2017 2018 2017
Cash Inflows
Collection of Receivables - - 2,054,507 1,476,748 - -
Receipt of Inter-Agency Fund Transfers 3,000 15,000 - - - -
Trust Receipts 46,407 53,963 2,128,233 2,354,619 - -
Other Receipts - 1,394 96,792 1,037,879 - -
Cash Outflows
Payment of Expenses 170 533 907,072 963,854 69,400 63,682
Refund of Deposits - - 1,938,971 2,169,597 - -
and Mandatory Deductions - - - - 22,779 20,072
Release of Intra-Agency Fund Transfers 4,626 5,181 - - - -

Activities (1,341) 20,217 2,166,858 2,518,348 (13,082) (9,826)
Cash Inflows
and Equipment 1,271 - - - - -
Receipt of Interest Earned 1,137 2,135 - 9,455 - -
Proceeds from Matured Investments/Redemption 2,093 2,183 160,523 20,000 - -
Total Cash Inflows 4,501 4,318 160,523 29,455 - -
Adjusted Cash Inflows 4,501 4,318 160,523 29,455 - -
Cash Outflows
Equipment - 21,313 142,170 55,275 126,557 54,663
Purchase/Acquisition of Investments 33,598 76,934 137,070 1,476,377 - 1,000
Total Cash Outflows 33,598 98,247 279,240 1,531,651 126,557 55,663
Adjusted Cash Outflows 33,598 98,247 279,240 1,531,651 126,557 55,663
666
(in thousand pesos)

2018 2017 2018 2017 2018 2017

Activities (29,097) (93,929) (118,716) (1,502,196) (126,557) (55,663)
Cash Inflows
Proceeds from Incurrence of Financial Liabilities - - 1,664 753 - -
Equity/Contribution from National Government - - 553,000 - 136,954 50,947
Total Cash Inflows - - 554,664 753 136,954 50,947
Adjusted Cash Inflows - - 554,664 753 136,954 50,947
Cash Outflows
Payment of Long-Term Liabilities - - 2,444,770 1,195,536 - -
Financial Charges - - 131,167 132,360 - -
GOCCs Income - - 262,902 923,600 - -

Activities - - (2,284,174) (2,250,742) 136,954 50,947

EQUIVALENTS (30,438) (73,712) (236,032) (1,234,591) (2,684) (14,543)

Cash Equivalents - - 359,135 (57,197) - -
CASH AND CASH EQUIVALENTS, JANUARY 1 44,984 118,696 673,706 1,965,494 8,703 23,246
667
(in thousand pesos)

2018 2017 2018 2017 2018 2017
Cash Inflows
Proceeds from Sale of Goods and Services 697 1,134 - - - -
Receipt of Assistance/Subsidy 124,306 146,869 59,513 105,811 - -
Collection of Receivables 71,455 140,614 - - 2,063 2,435
Receipt of Inter-Agency Fund Transfers 39,839 5 - - - -
Receipt of Intra-Agency Fund Transfers 213,180 303,400 - - - -
Trust Receipts 73,452 61,620 - - 38,080 49,341
Other Receipts 76,753 51,052 1,799 196 7,804 16,829
Adjustments 301 252 252 241 - -
Cash Outflows
Purchase of Inventories 63,939 44,321 - - 1,345 2,963
Grant of Cash Advances 24,520 31,060 80 58 8,633 10,546
Prepayments 1,556 45,155 - - - -
Refund of Deposits 10,564 1,335 235 - - -
Payments of Accounts Payable 201,574 137,858 - - 77,847 37,281
and Mandatory Deductions 3,339,023 2,936,575 9,576 15,103 - -
Contribution 56,288 25,740 - - - -
Release of Inter-Agency Fund Transfers 183,810 54,338 - - - -
Release of Intra-Agency Fund Transfers 217,341 181,265 - - - -
Other Disbursements 64,478 66,040 - - 295 323
Adjustments 688 753 864 30 - -

Activities 2,587,313 2,655,558 24,016 38,480 20,826 97,426
Cash Inflows
and Equipment 23 42 - - - -
Receipt of Interest Earned 121 397 - - - -
Proceeds from Matured Investments/Redemption 195,818 9,759,310 - - - -
Total Cash Inflows 195,962 9,759,749 - - - -
Adjusted Cash Inflows 195,962 9,759,749 - - - -
Cash Outflows
Equipment 545,791 500,358 39,870 61,059 23,459 2,123
Purchase/Acquisition of Investments 3,767,434 8,542,816 - - - -
668
(in thousand pesos)

2018 2017 2018 2017 2018 2017

Activities (4,117,263) 716,575 (39,870) (61,059) (23,459) (2,123)
Cash Inflows
other Equity Securities - 2 - - - 2
Total Cash Inflows - 2 - - - 2
Adjusted Cash Inflows - 2 - - - 2
Cash Outflows
Financial Charges 1 353 - - - -
GOCCs Income 43,310 48,302 - - 43,310 48,302

Activities (138,024) (138,476) - - (43,310) (48,300)

EQUIVALENTS (1,667,974) 3,233,657 (15,854) (22,578) (45,944) 47,003

669
(in thousand pesos)

2018 2017 2018 2017 2018 2017
Cash Inflows
Proceeds from Sale of Goods and Services - - - - 697 1,134
Collection of Receivables - - - - 1,556 1,522
Trust Receipts 88 6,137 - - - -
Other Receipts 156 76 - - 1,161 1,152
Adjustments 48 11 - - 0 -
Cash Outflows
Prepayments 230 215 - - - -
Payments of Accounts Payable 5,027 1,876 100 36 - -
and Mandatory Deductions 9,415 9,832 688 735 - -
Other Disbursements 2,938 1,999 - - - -
Adjustments 2 545 - - (178) 178

Activities 48,606 46,850 77 1,789 5,815 934
Cash Inflows
and Equipment 11 - - - - -
Receipt of Interest Earned 63 322 - - 21 20
Total Cash Inflows 74 322 - - 21 20
Adjusted Cash Inflows 74 322 - - 21 20
Cash Outflows
Equipment 10,326 8,708 100 46 - -
Total Cash Outflows 10,326 8,708 100 46 - -
Adjusted Cash Outflows 10,326 8,708 100 46 - -
670
(in thousand pesos)

2018 2017 2018 2017 2018 2017

Activities (10,253) (8,385) (100) (46) 21 20
Cash Inflows
Cash Outflows
Financial Charges - - - - 1 353
Total Cash Outflows 59,995 57,090 - - 1 353
Adjusted Cash Outflows 59,995 57,090 - - 1 353

Activities (59,995) (57,090) - - (1) (353)

EQUIVALENTS (21,641) (18,626) (24) 1,743 5,835 601

CASH AND CASH EQUIVALENTS, JANUARY 1 38,621 57,247 2,279 536 10,885 10,285
671
(in thousand pesos)
TIEZA CFI
2018 2017 2018 2017
(Restated)
Cash Inflows
Proceeds from Sale of Goods and Services - - - -
Collection of Income/Revenue 6,707,337 6,028,336 19,040 20,931
Receipt of Assistance/Subsidy - - - -
Collection of Receivables 67,837 136,657 - -
Receipt of Inter-Agency Fund Transfers 39,839 5 - -
Receipt of Intra-Agency Fund Transfers 213,180 303,400 - -
Trust Receipts 35,283 6,141 - -
Other Receipts 65,833 32,798 - -
Total Cash Inflows 7,129,309 6,507,338 19,040 20,931
Adjustments - - - -
Adjusted Cash Inflows 7,129,309 6,507,338 19,040 20,931
Cash Outflows
Payment of Expenses 602,848 603,708 20,898 20,881
Purchase of Inventories 54,138 33,663 - -
Grant of Cash Advances 14,210 19,034 - -
Prepayments 1,326 44,940 - -
Refund of Deposits 10,329 1,335 - -
Payments of Accounts Payable 118,599 98,664 - -
and Mandatory Deductions 3,319,344 2,910,905 - -
Contribution 56,288 25,740 - -
Release of Inter-Agency Fund Transfers 183,810 54,338 - -
Release of Intra-Agency Fund Transfers 217,341 181,265 - -
Other Disbursements 61,245 63,718 - -
Total Cash Outflows 4,639,477 4,037,310 20,898 20,881
Adjustments - - - -
Adjusted Cash Outflows 4,639,477 4,037,310 20,898 20,881

Activities 2,489,831 2,470,028 (1,858) 50
Cash Inflows
Property - - - -
and Equipment 12 - - 42
Sale of Investments - - - -
Receipt of Interest Earned - - 37 55
Receipt of Cash Dividends - - - -
Proceeds from Matured Investments/Redemption 195,818 9,759,310 - -
Collection of Long-Term Loans - - - -
Proceeds from Sale of Other Assets - - - -
Total Cash Inflows 195,830 9,759,310 37 97
Adjusted Cash Inflows 195,830 9,759,310 37 97
Cash Outflows
Purchase/Construction of Investment Property - - - -
Equipment 470,378 427,479 1,658 944
Purchase/Acquisition of Investments 3,767,434 8,542,816 - -
Purchase of Intangible Assets - - - -
Total Cash Outflows 4,237,811 8,970,294 1,658 944
Adjusted Cash Outflows 4,237,811 8,970,294 1,658 944
672
(in thousand pesos)
TIEZA CFI
2018 2017 2018 2017
(Restated)

Activities (4,041,981) 789,015 (1,621) (847)
Cash Inflows
Proceeds from Incurrence of Financial Liabilities - - - -
Equity/Contribution from National Government - - - -
other Equity Securities - - - -
Total Cash Inflows - - - -
Adjusted Cash Inflows - - - -
Cash Outflows
Payment of Long-Term Liabilities 34,717 32,732 - -
Other Equity Securities - - - -
Financial Charges - - - -
GOCCs Income - - - -
Total Cash Outflows 34,717 32,732 - -
Adjusted Cash Outflows 34,717 32,732 - -

Activities (34,717) (32,732) - -

EQUIVALENTS (1,586,867) 3,226,311 (3,479) (797)

Cash Equivalents 52 24 - -
CASH AND CASH EQUIVALENTS, JANUARY 1 3,872,130 645,795 9,852 10,649
CASH AND CASH EQUIVALENTS, DECEMBER 31 2,285,315 3,872,130 6,373 9,852
673
(in thousand pesos)
Total GBE FTI

2018 2017 2018 2017 2018 2017
(Restated)
Cash Inflows
Proceeds from Sale of Goods and Services 159,572 237,377 151,765 222,394 - -
Collection of Income/Revenue 20,814,083 19,939,867 1,138,408 937,532 33,565 26,788
Collection of Receivables 827,347 1,200,106 578,129 548,299 296,351 323,628
Receipt of Intra-Agency Fund Transfers 24,707,865 27,122,021 - - - -
Trust Receipts 2,344,569 637,472 29,022 46,205 5,942 8,377
Other Receipts 1,180,536 1,478,339 230,461 24,330 168 333
Adjustments 700,171 91,485 181,488 46,774 - -
Cash Outflows
Purchase of Inventories 1,436,901 694,457 16,625 9,606 - -
Prepayments 1,812,113 2,770,913 59,531 2,185 1,859 -
Refund of Deposits 1,354,901 125,407 882 1,393 - -
Payments of Accounts Payable 11,298,857 5,933,952 6,383 19,018 - -
and Mandatory Deductions 4,657,377 3,160,742 138,730 134,988 21,394 18,067
Release of Inter-Agency Fund Transfers 1,866,275 1,469,339 1,289 6,664 - -
Release of Intra-Agency Fund Transfers 24,929,223 27,149,600 - - - -
Other Disbursements 3,341,145 778,429 223,800 267,452 9,359 3,807
Total Cash Outflows 66,405,767 54,201,263 4,810,243 4,115,097 208,870 1,004,765
Adjustments 76,550 136,095 49,361 111,149 - -
Adjusted Cash Outflows 66,482,317 54,337,357 4,859,604 4,226,245 208,870 1,004,765

Activities 31,782,029 41,514,338 1,451,896 1,782,732 127,155 (645,640)
Cash Inflows
Property 340 - - - - -
and Equipment 12,276 2,097,090 48 2,075,174 - 2,075,040
Sale of Investments 338,355 1,015,824 231,905 1,015,549 - -
Receipt of Cash Dividends 71,000 1,770 - 1,770 - -
Proceeds from Sale of Other Assets 193,856 125 192,560 - - -
Total Cash Inflows 26,792,814 13,519,361 18,581,858 13,055,117 - 2,075,040
Adjustments (Please specify) 41 - - - - -
Adjusted Cash Inflows 26,792,854 13,519,361 18,581,858 13,055,117 - 2,075,040
Cash Outflows
Equipment 22,662,738 22,738,802 359,431 374,046 992 280
Purchase/Acquisition of Investments 20,446,549 14,180,050 19,451,828 11,389,674 21,361 109,499
Purchase of Bearer Biological Assets 6,706 8,358 - - - -
Purchase of Intangible Assets 1,393 208 1,393 208 - -
Grant of Loans 94,875 43,948 - - - -
Adjustments (Please specify) 3,114 10 1,999 7 - -
674
(in thousand pesos)
Total GBE FTI

2018 2017 2018 2017 2018 2017
(Restated)

Activities (16,437,230) (23,465,240) (1,232,793) 1,291,182 (22,353) 1,965,261
Cash Inflows
Proceeds from Domestic and Foreign Loans 19,751,251 27,085,570 - - - -
Equity/Contribution from National Government 28,341 - 28,341 - - -
Total Cash Inflows 19,779,592 27,085,570 28,341 - - -
Adjusted Cash Inflows 19,779,592 27,085,570 28,341 - - -
Cash Outflows
Payment of Long-Term Liabilities 33,608,417 34,943,192 19,225 18,187 - -
Financial Charges 4,869,747 5,185,183 7,607 8,646 - -
GOCCs Income 1,271,914 273,902 1,195,209 172,238 963,792 87,271
Total Cash Outflows 39,750,079 40,402,277 1,222,041 199,070 963,792 87,271
Adjusted Cash Outflows 39,750,079 40,402,277 1,222,041 199,070 963,792 87,271

Activities (19,970,487) (13,316,707) (1,193,701) (199,070) (963,792) (87,271)

EQUIVALENTS (4,625,688) 4,732,390 (974,597) 2,874,844 (858,990) 1,232,350

Cash Equivalents 38,187 (868) 1,141 (258) - -
CASH AND CASH EQUIVALENTS, JANUARY 1 22,327,578 17,596,056 6,092,981 3,218,395 1,426,794 194,444
CASH AND CASH EQUIVALENTS, DECEMBER 31 17,740,077 22,327,578 5,119,526 6,092,981 567,804 1,426,794
675
(in thousand pesos)
HSDC NRDC PMDC

2018 2017 2018 2017 2018 2017
Cash Inflows
Collection of Receivables 69,005 1,558 15,509 30,542 73 97
Trust Receipts - - 3,369 12,635 - 153
Other Receipts 2,770 5,794 7,860 1,539 211,048 541
Adjustments 350 - 96 27 - -
Cash Outflows
Purchase of Inventories - - 2 169 - 21
Grant of Cash Advances 499 545 110 2,749 27,527 5,182
Prepayments - - 19 482 - -
and Mandatory Deductions 1,067 1,591 963 1,753 6,610 6,916
Other Disbursements 4,622 4,197 47 11 - 40
Adjustments 704 350 - - - -

Activities 70,687 20,756 7,308 21,857 225,782 15,781
Cash Inflows
Receipt of Interest Earned 13,806 1,627 69 8 911 1,104
Receipt of Cash Dividends - 1,770 - - - -
Proceeds from Matured Investments/Redemption - 1,000 - - - -
Total Cash Inflows 13,806 4,397 69 8 911 1,104
Adjusted Cash Inflows 13,806 4,397 69 8 911 1,104
Cash Outflows
Equipment 354 216 - 2,261 11,552 6,609
Purchase/Acquisition of Investments - - - - 49,986 -
Purchase of Bearer Biological Assets - - - - - -
Purchase of Consumable Biological Assets - - - - - -
Purchase of Intangible Assets - - - 208 321 -
Total Cash Outflows 354 216 - 2,469 61,859 6,609
Adjusted Cash Outflows 354 216 - 2,469 61,859 6,609
676
(in thousand pesos)
HSDC NRDC PMDC

2018 2017 2018 2017 2018 2017

Activities 13,452 4,181 69 (2,461) (60,948) (5,505)
Cash Inflows
Cash Outflows
Payment of Long-Term Liabilities - - - - 9,225 8,187
Financial Charges - - - - 7,607 8,646
GOCCs Income - - - - - 1,247
Total Cash Outflows - - - - 16,832 18,080
Adjusted Cash Outflows - - - - 16,832 18,080

Activities - - - - (16,832) (18,080)

EQUIVALENTS 84,139 24,937 7,377 19,397 148,002 (7,804)

Cash Equivalents - - - - 418 (498)
677
(in thousand pesos)
PCIC PFDA PHILSUCOR

2018 2017 2018 2017 2018 2017
Cash Inflows
Receipt of Assistance/Subsidy 2,275,000 2,500,000 196,184 94,111 - -
Collection of Receivables 94 174 27,505 36,781 169,592 155,519
Receipt of Inter-Agency Fund Transfers 1,523,243 1,558,332 7,800 31,000 - -
Trust Receipts 8,753 6,870 10,958 18,169 - -
Other Receipts 3,636 8,639 4,981 7,483 - -
Total Cash Inflows 4,124,256 4,369,895 1,004,953 884,074 173,981 157,899
Adjustments 181,042 46,747 - - - -
Adjusted Cash Inflows 4,305,298 4,416,642 1,004,953 884,074 173,981 157,899
Cash Outflows
Grant of Cash Advances 41,090 41,862 115 71 1,948 87
Prepayments 1,470 550 55,958 374 225 779
Refund of Deposits 48 408 834 985 - -
Payments of Accounts Payable 2,380 697 - - 928 1,813
and Mandatory Deductions 102,107 94,608 - 5,698 6,589 6,355
Release of Inter-Agency Fund Transfers 1,235 4,116 54 2,548 - -
Other Disbursements 53 49,022 9,372 20 200,347 210,354
Adjustments 48,657 110,798 - - - -

Activities 749,746 2,121,238 313,957 315,170 (42,739) (66,431)
Cash Inflows
Sale of Investments - - - - 231,905 1,015,549
Receipt of Interest Earned 46,758 33,422 8,174 9,904 49 22,948
Proceeds from Matured Investments/Redemption 18,087,578 9,892,611 - - - -
Proceeds from Sale of Other Assets - - - - 192,560 -
Total Cash Inflows 18,134,384 9,926,168 8,174 9,904 424,514 1,038,497
Adjusted Cash Inflows 18,134,384 9,926,168 8,174 9,904 424,514 1,038,497
Cash Outflows
Equipment 29,096 31,768 317,198 332,419 240 492
Purchase/Acquisition of Investments 19,163,482 10,195,175 - - 217,000 1,085,000
Purchase of Intangible Assets 1,072 - - - - -
Adjustments (Please specify) 1,999 7 - - - -
678
(in thousand pesos)
PCIC PFDA PHILSUCOR

2018 2017 2018 2017 2018 2017

Activities (1,061,264) (300,782) (309,024) (322,515) 207,275 (46,995)
Cash Inflows
Equity/Contribution from National Government 28,341 - - - - -
Total Cash Inflows 28,341 - - - - -
Cash Outflows
Payment of Long-Term Liabilities - - 10,000 10,000 - -
GOCCs Income 170,769 22,559 48,706 60,360 11,943 801
Total Cash Outflows 170,769 22,559 58,706 70,360 11,943 801
Adjusted Cash Outflows 170,769 22,559 58,706 70,360 11,943 801

Activities (142,428) (22,559) (58,706) (70,360) (11,943) (801)

EQUIVALENTS (453,946) 1,797,898 (53,772) (77,705) 152,592 (114,228)

679
(in thousand pesos)
Non-GBE NDA NFA

2018 2017 2018 2017 2018 2017
Cash Inflows
Collection of Income/Revenue 19,675,675 19,002,335 11,917 14,038 17,448,025 17,127,504
Receipt of Assistance/Subsidy 43,039,206 40,004,862 470,694 199,945 7,000,000 5,100,000
Collection of Receivables 249,218 651,808 11,948 49,878 94,371 229,237
Receipt of Inter-Agency Fund Transfers 488,770 956,722 517 2,552 392,200 461,575
Receipt of Intra-Agency Fund Transfers 24,707,865 27,122,021 (4,352) 1,007 23,715,024 25,498,877
Trust Receipts 2,315,547 591,267 888 831 366,130 397,120
Other Receipts 950,075 1,454,009 536 36 399,091 339,494
Adjustments 518,683 44,711 397 - 17,169 10,766
Cash Outflows
Purchase of Inventories 1,420,276 684,851 - - 1,289,226 582,659
Prepayments 1,752,582 2,768,727 - - 4,367 5,124
Refund of Deposits 1,354,019 124,015 20 - 3,050 101,542
Payments of Accounts Payable 11,292,474 5,914,933 47,538 13,798 9,898,646 4,933,779
and Mandatory Deductions 4,518,647 3,025,754 - - 1,188,624 1,190,545
Release of Inter-Agency Fund Transfers 1,864,986 1,462,675 - - 111,366 245,823
Release of Intra-Agency Fund Transfers 24,929,223 27,149,600 - - 23,872,417 25,527,506
Other Disbursements 3,117,345 510,977 2,904 396 69,773 139,141
Adjustments 27,189 24,946 - 796 20,042 13,503

Activities 30,330,133 39,731,606 258,983 84,425 10,047,897 13,528,842
Cash Inflows
Property 340 - - - - -
and Equipment 12,227 21,916 335 117 1,365 611
Sale of Investments 106,450 275 - - 106,450 -
Receipt of Interest Earned 31,638 34,732 - - - -
Receipt of Cash Dividends 71,000 - - - 71,000 -
Proceeds from Matured Investments/Redemption 7,822,541 296,607 - - 7,005,162 -
Proceeds from Sale of Other Assets 1,296 125 - - 1,296 125
Total Cash Inflows 8,210,956 464,244 335 117 7,185,273 736
Adjustments (Please specify) 41 - - - - -
Adjusted Cash Inflows 8,210,996 464,244 335 117 7,185,273 736
Cash Outflows
Equipment 22,303,307 22,364,756 10,567 26,195 167,696 227,383
Purchase/Acquisition of Investments 994,721 2,790,376 - - 2,550 2,500,000
Purchase of Bearer Biological Assets 6,706 8,358 6,706 8,318 - -
Grant of Loans 94,875 43,948 - - - -
Adjustments (Please specify) 1,116 3 - - - -
680
(in thousand pesos)
Non-GBE NDA NFA

2018 2017 2018 2017 2018 2017

Activities (15,204,437) (24,756,423) (16,938) (34,396) 7,015,026 (2,726,647)
Cash Inflows
Proceeds from Domestic and Foreign Loans 19,751,251 27,085,570 - - 19,751,251 27,085,570
Total Cash Inflows 19,751,251 27,085,570 - - 19,751,251 27,085,570
Adjusted Cash Inflows 19,751,251 27,085,570 - - 19,751,251 27,085,570
Cash Outflows
Payment of Long-Term Liabilities 33,589,193 34,925,005 - - 32,614,193 33,950,005
Financial Charges 4,862,139 5,176,537 - - 4,338,269 4,652,667
GOCCs Income 76,705 101,664 - - - -
Total Cash Outflows 38,528,037 40,203,206 - - 36,952,462 38,602,672
Adjusted Cash Outflows 38,528,037 40,203,206 - - 36,952,462 38,602,672

Activities (18,776,786) (13,117,637) - - (17,201,211) (11,517,103)

EQUIVALENTS (3,651,091) 1,857,546 242,045 50,028 (138,288) (714,908)

Cash Equivalents 37,045 (611) 63 2 36,718 (613)
CASH AND CASH EQUIVALENTS, DECEMBER 31 12,620,552 16,234,597 613,022 370,914 983,645 1,085,215
681
(in thousand pesos)
NIA NTA PCA

2018 2017 2018 2017 2018 2017
Cash Inflows
Proceeds from Sale of Goods and Services - - 3,253 - - -
Receipt of Assistance/Subsidy 33,304,104 31,698,045 - - 1,373,549 1,309,661
Receipt of Inter-Agency Fund Transfers - 147,147 - - 20,787 45,940
Receipt of Intra-Agency Fund Transfers - - 591,358 590,030 57,907 713,779
Trust Receipts 121,804 103,047 70,330 35,804 83,199 46,900
Other Receipts 385,177 782,525 4,233 3,141 68,345 126,368
Adjustments 36,244 48 - - - -
Cash Outflows
Purchase of Inventories - - 8,827 967 75,378 74,957
Prepayments 1,706,740 2,759,880 6,713 - 1,367 176
Refund of Deposits 38,312 18,738 - - 670 1,926
Payments of Accounts Payable 977,978 503,846 - 16,157 189,964 196,999
and Mandatory Deductions 2,900,416 1,405,184 76,607 58,104 140,984 180,139
Contribution - - - - 10,399 -
Release of Intra-Agency Fund Transfers - - 667,829 553,716 26,099 737,040
Other Disbursements 2,821,334 214,035 - - 190,237 110,718

Activities 19,736,127 25,436,958 (67,209) 59,621 (246,526) (357,495)
Cash Inflows
and Equipment 3,295 1,902 - 4,088 - -
Sale of Investments - - - - - 275
Receipt of Interest Earned 15,143 20,012 - - 463 3,158
Collection of Long-Term Loans - - 165,463 110,589 - -
Total Cash Inflows 18,438 21,914 165,463 114,677 463 3,433
Adjusted Cash Inflows 18,438 21,914 165,503 114,677 463 3,433
Cash Outflows
Equipment 21,676,722 21,917,998 11,641 7,496 118,841 66,881
Purchase of Bearer Biological Assets - - - 40 - -
Purchase of Consumable Biological Assets - - - - 14,709 13,225
Grant of Loans - - 94,875 43,948 - -
Adjustments (Please specify) - - 1,116 - - -
682
(in thousand pesos)
NIA NTA PCA

2018 2017 2018 2017 2018 2017

Activities (21,658,284) (21,896,084) 57,871 63,194 (133,088) (76,673)
Cash Inflows
Cash Outflows
Total Cash Outflows 1,498,870 1,498,870 - - - -
Adjusted Cash Outflows 1,498,870 1,498,870 - - - -

Activities (1,498,870) (1,498,870) - - - -

EQUIVALENTS (3,421,027) 2,042,004 (9,338) 122,814 (379,614) (434,168)

Cash Equivalents 264 - - - - -
CASH AND CASH EQUIVALENTS, JANUARY 1 9,847,413 7,805,410 156,102 33,288 806,031 1,240,200
683
(in thousand pesos)

2018 2017 2018 2017 2018 2017
(Restated)
Cash Inflows
Receipt of Assistance/Subsidy 778,359 561,000 - - 112,500 1,136,211
Receipt of Inter-Agency Fund Transfers 72,924 298,987 - - 2,341 519
Receipt of Intra-Agency Fund Transfers 257,590 147,256 90,337 171,073 - -
Trust Receipts - - 2,750 6,538 1,670,447 1,027
Other Receipts 61,601 165,958 18,071 21,894 13,022 14,594
Adjustments 463,885 33,380 - - 988 518
Cash Outflows
Purchase of Inventories 44,688 23,842 296 508 1,861 1,917
Prepayments 27,080 2,830 - - 6,315 717
Refund of Deposits 77,542 1,214 85 250 1,234,341 345
Payments of Accounts Payable 164,307 214,786 640 1,671 13,400 33,898
Other Disbursements 30,386 40,637 1,235 - 1,476 6,050
Total Cash Outflows 1,274,258 1,266,880 202,350 318,893 2,464,838 827,260
Adjustments 7,147 10,647 - - - -
Adjusted Cash Outflows 1,281,405 1,277,527 202,350 318,893 2,464,838 827,260

Activities 433,491 73,176 (68,723) 12,877 236,093 893,203
Cash Inflows
Property - - - - 340 -
and Equipment - - 7,230 14,626 2 572
Proceeds from Matured Investments/Redemption - - 817,379 296,607 - -
Total Cash Inflows - - 837,782 319,997 3,203 3,370
Adjusted Cash Inflows - - 837,782 319,997 3,203 3,370
Cash Outflows
Equipment 264,887 85,633 56 162 52,896 33,009
Purchase/Acquisition of Investments - - 992,171 290,376 - -
Adjustments (Please specify) - - - 3 - -
684
(in thousand pesos)

2018 2017 2018 2017 2018 2017
(Restated)

Activities (264,887) (85,633) (154,445) 29,456 (49,693) (29,639)
Cash Inflows
Cash Outflows
GOCCs Income - - - - 76,705 101,664
Total Cash Outflows - - - - 76,705 101,664
Adjusted Cash Outflows - - - - 76,705 101,664

Activities - - - - (76,705) (101,664)

EQUIVALENTS 168,604 (12,457) (223,168) 42,334 109,695 761,900

CASH AND CASH EQUIVALENTS, DECEMBER 31 1,390,105 1,221,501 717,934 941,101 1,916,015 1,806,320
685
Cluster 6 - Social, Cultural, Promotional, Trading and Other Services
(in thousand pesos)
Total GBE IBC 13

2018 2017 2018 2017 2018 2017
Cash Inflows
Collection of Income/Revenue 108,599,653 93,417,211 103,953,099 88,873,320 - -
Receipt of Intra-Agency Fund Transfers 1,453,786 338,659 - 13,615 - -
Trust Receipts 3,011,842 1,756,818 44,445 227,543 - -
Other Receipts 5,058,386 3,859,643 4,890,054 3,689,141 - -
Adjustments 909,352 506,597 614,411 475,502 - -
Cash Outflows
Prepayments 481,806 304,601 417,560 139,536 - -
and Mandatory Deductions 27,271,682 17,318,843 26,536,182 16,576,025 133 5,824
Contribution 59,190,481 44,798,504 59,189,947 44,797,962 - -
Release of Inter-Agency Fund Transfers 2,067,849 587,978 15,665 178,586 - -
Other Disbursements 115,621,662 102,113,041 113,628,813 101,441,869 - -
Adjustments 766,717 327,684 477,571 323,200 - -

Activities 39,039,582 27,791,224 34,916,083 26,946,998 (4,044) 3,823
Cash Inflows
Property 37,333,130 - 37,333,130 - - -
and Equipment 1,916 1,019 150 - - -
Sale of Investments 1,627,165 1,599,566 1,627,165 1,599,566 - -
Receipt of Interest Earned 1,285,346 147,729 1,252,807 119,870 - -
Proceeds from Sale of Other Assets 228 363 228 363 - -
Total Cash Inflows 51,542,986 10,503,636 49,731,001 8,945,152 - -
Adjustments (Please specify) - (152,375) - (152,375) - -
Adjusted Cash Inflows 51,542,986 10,351,261 49,731,001 8,792,776 - -
Cash Outflows
Equipment 2,492,567 5,057,800 1,293,691 3,829,690 268 587
Total Cash Outflows 39,200,581 15,443,773 36,143,489 11,947,761 268 587
Adjustments (Please specify) (49,085) (81,848) - - - -
Adjusted Cash Outflows 39,151,497 15,361,925 36,143,489 11,947,761 268 587

Activities 12,391,489 (5,010,664) 13,587,512 (3,154,985) (268) (587)
686
(in thousand pesos)
Total GBE IBC 13

2018 2017 2018 2017 2018 2017
Cash Inflows
other Equity Securities 47 - - - - -
Total Cash Inflows 47 - - - - -
Adjustments (Please specify) 2,663 - - - - -
Cash Outflows
Payment of Long-Term Liabilities 4,921 4,668 - 210 - -
Financial Charges 799 40,653 799 40,653 - -
GOCCs Income 5,402,091 1,431,205 5,402,091 1,431,205 - -
Total Cash Outflows 5,407,811 1,476,526 5,402,890 1,472,068 - -
Adjusted Cash Outflows 5,407,811 1,476,526 5,402,890 1,472,068 - -

Activities (5,405,102) (1,476,526) (5,402,890) (1,472,068) - -

EQUIVALENTS 46,025,969 21,304,034 43,100,705 22,319,945 (4,312) 3,236

Cash Equivalents 220,704 (42,688) 213,046 (45,607) - -
687
(in thousand pesos)
PAGCOR PCSO PHIC

2018 2017 2018 2017 2018 2017
Cash Inflows
Proceeds from Sale of Goods and Services - - 40,567,672 32,584,632 - -
Collection of Income/Revenue 25,298,373 24,908,721 217,842 839,424 77,595,233 62,395,226
Receipt of Assistance/Subsidy - - - - 57,919,413 49,326,482
Collection of Receivables 42,264,443 33,875,882 152 48 - -
Receipt of Intra-Agency Fund Transfers - - - 13,615 - -
Trust Receipts - - 11,721 10,944 - -
Other Receipts 4,880,528 3,685,784 - - - -
Adjustments 576,350 431,619 - - - -
Cash Outflows
Prepayments 393,817 138,312 20,684 1,224 - -
Refund of Deposits 307,421 218,361 11,442 - - -
and Mandatory Deductions 9,283,250 8,143,829 17,091,834 8,299,541 - -
Contribution 47,133,512 35,685,438 12,056,435 9,112,524 - -
Release of Inter-Agency Fund Transfers 15,665 177,936 - - - -
Other Disbursements - - 707,224 - 112,459,342 100,400,993
Adjustments 431,619 178,860 - - - -

Activities 5,986,466 8,482,648 527,416 4,252,581 17,085,515 5,141,421
Cash Inflows
Property 37,333,130 - - - - -
Sale of Investments - - 1,627,165 548,933 - 1,050,632
Proceeds from Matured Investments/Redemption - - - - 9,276,394 5,399,753
Proceeds from Sale of Other Assets - - 54 14 174 348
Total Cash Inflows 38,154,343 116,914 1,627,219 548,948 9,276,568 6,450,733
Adjusted Cash Inflows 38,154,343 116,914 1,627,219 548,948 9,276,568 6,450,733
Cash Outflows
Equipment 570,004 3,332,996 131,025 45,982 508,097 439,902
Purchase/Acquisition of Investments - - - 100,000 33,815,807 7,490,786
Purchase of Intangible Assets 26,098 43,315 - - - -
Total Cash Outflows 596,102 3,376,310 131,025 145,982 34,323,904 7,930,688
Adjusted Cash Outflows 596,102 3,376,310 131,025 145,982 34,323,904 7,930,688

Activities 37,558,241 (3,259,397) 1,496,194 402,965 (25,047,336) (1,479,955)
688
(in thousand pesos)
PAGCOR PCSO PHIC

2018 2017 2018 2017 2018 2017
Cash Inflows
Cash Outflows
Financial Charges 799 40,653 - - - -
GOCCs Income 2,593,399 1,182,620 2,535,289 - - -
Total Cash Outflows 2,594,198 1,223,273 2,535,289 - - -
Adjusted Cash Outflows 2,594,198 1,223,273 2,535,289 - - -

Activities (2,594,198) (1,223,273) (2,535,289) - - -

EQUIVALENTS 40,950,509 3,999,979 (511,679) 4,655,546 (7,961,821) 3,661,466

Cash Equivalents 205,349 (45,733) - - 47 3
689
(in thousand pesos)
PITC PPPI PRA

2018 2017 2018 2017 2018 2017
(Restated)
Cash Inflows
Proceeds from Sale of Goods and Services 2,429 9,599 58,618 75,134 - -
Collection of Income/Revenue 28,937 25,507 674 1,465 812,041 702,977
Collection of Receivables 7,100 3,414 - - 189 5,261
Receipt of Inter-Agency Fund Transfers 14,894,515 11,213,220 - - - -
Trust Receipts 29,959 77,745 1,852 138,854 913 -
Other Receipts 6,601 935 1,432 1,141 1,494 1,282
Adjustments 33,718 12,777 - - 4,343 31,106
Cash Outflows
Purchase of Inventories 2,474 7,754 - - 20 -
Grant of Cash Advances 803 - - - 6,873 7,725
Prepayments - - - - 3,059 -
Refund of Deposits - - - - 1,338 -
Payments of Accounts Payable 3,410,244 1,441,862 104,132 150,918 30,500 19,281
Release of Inter-Agency Fund Transfers - 650 - - - -
Other Disbursements 306,892 891,737 3,622 32 151,733 149,107
Adjustments 3,745 114,018 - - 42,207 30,322

Activities 11,047,127 8,699,685 (73,568) 26,159 347,172 340,682
Cash Inflows
and Equipment - - 15 - 135 -
Receipt of Interest Earned 431,462 2,956 - - 133 -
Proceeds from Matured Investments/Redemption - 1,260,765 - - 241,126 564,836
Total Cash Inflows 431,462 1,263,721 15 - 241,395 564,836
Adjustments (Please specify) - - - - - (152,375)
Adjusted Cash Inflows 431,462 1,263,721 15 - 241,395 412,460
Cash Outflows
Equipment 77,321 4,265 - 33 6,977 5,925
Purchase/Acquisition of Investments 602,510 - - - 405,383 483,971
Total Cash Outflows 679,831 4,265 - 33 412,360 489,895
Adjusted Cash Outflows 679,831 4,265 - 33 412,360 489,895

Activities (248,369) 1,259,456 15 (33) (170,965) (77,435)
690
(in thousand pesos)
PITC PPPI PRA

2018 2017 2018 2017 2018 2017
(Restated)
Cash Inflows
Cash Outflows
Payment of Long-Term Liabilities - - - 210 - -
GOCCs Income 64,517 38,150 - - 208,885 210,435
Total Cash Outflows 64,517 38,150 - 210 208,885 210,435
Adjusted Cash Outflows 64,517 38,150 - 210 208,885 210,435

Activities (64,517) (38,150) - (210) (208,885) (210,435)

EQUIVALENTS 10,734,240 9,920,991 (73,553) 25,916 (32,679) 52,812

Cash Equivalents 4,542 123 - - 3,108 -
691
(in thousand pesos)
Non-GBE BSoP CCP

2018 2017 2018 2017 2018 2017
Cash Inflows
Proceeds from Sale of Goods and Services 3,974,364 2,862,812 163,312 132,789 5,348 458
Receipt of Assistance/Subsidy 4,033,497 3,269,886 - - 288,252 244,495
Collection of Receivables 1,766,608 1,529,394 - - - -
Receipt of Inter-Agency Fund Transfers 1,009,355 287,789 - - - -
Receipt of Intra-Agency Fund Transfers 1,453,786 325,044 13,082 134,797 - -
Trust Receipts 2,967,397 1,529,275 - 2,717 29,134 30,576
Other Receipts 168,332 170,502 16,424 2,619 - 4,174
Adjustments 294,941 31,095 (5,493) - 826 (5,530)
Cash Outflows
Grant of Cash Advances 117,901 107,420 - 555 32,781 26,424
Prepayments 64,246 165,065 637 1,240 25,281 13,052
Refund of Deposits 3,606 6,667 1,082 - 700 600
Payments of Accounts Payable 2,492,991 3,660,440 895 - - -
and Mandatory Deductions 735,500 742,818 7,485 9,461 1,274 (857)
Contribution 534 542 - - - -
Release of Inter-Agency Fund Transfers 2,052,184 409,392 - - - -
Release of Intra-Agency Fund Transfers 729 - - - - -
Other Disbursements 1,992,848 671,172 25,390 7,892 - -
Adjustments 289,146 4,484 - - - -

Activities 4,123,499 844,226 (151) 112,309 157,439 153,011
Cash Inflows
and Equipment 1,766 1,019 - - - -
Receipt of Interest Earned 32,539 27,859 - - 8,209 4,671
Proceeds from Matured Investments/Redemption 1,777,681 1,529,606 - - - -
Total Cash Inflows 1,811,985 1,558,485 - - 8,209 4,671
Cash Outflows
Equipment 1,198,876 1,228,110 5,113 2,491 65,692 49,000
Purchase/Acquisition of Investments 1,858,217 2,267,902 - - 66,897 79,734

Activities (1,196,022) (1,855,679) (5,113) (2,491) (124,380) (124,063)
692
(in thousand pesos)
Non-GBE BSoP CCP

2018 2017 2018 2017 2018 2017
Cash Inflows
other Equity Securities 47 - 47 - - -
Total Cash Inflows 47 - 47 - - -
Adjustments (Please specify) 2,663 - 2,663 - - -
Adjusted Cash Inflows 2,709 - 2,709 - - -
Cash Outflows
Payment of Long-Term Liabilities 4,921 4,458 4,921 4,458 - -

Activities (2,212) (4,458) (2,212) (4,458) - -

EQUIVALENTS 2,925,264 (1,015,911) (7,476) 105,360 33,059 28,949

Cash Equivalents 7,658 2,919 (6) (25) - -
693
(in thousand pesos)
CITEM DAP LCP

2018 2017 2018 2017 2018 2017
Cash Inflows
Proceeds from Sale of Goods and Services 7,898 3,533 - - 119 123
Receipt of Assistance/Subsidy 231,876 220,000 230,164 285,262 257,657 265,190
Collection of Receivables 980 4,046 290,347 337,790 447,796 409,253
Receipt of Inter-Agency Fund Transfers 47,738 27,780 274,570 - - -
Trust Receipts 21,082 822 556 143,316 302,457 313,103
Other Receipts 6,783 5,595 4,252 3,239 77,882 80,758
Adjustments - - - - 287,321 -
Cash Outflows
Purchase of Inventories 193 19 12,349 16,717 - -
Grant of Cash Advances 16,609 16,819 23,395 13,355 1,499 -
Prepayments 17,004 9,717 1,350 1,236 247 -
Refund of Deposits 560 945 - - - -
Payments of Accounts Payable 33,525 33,214 46,561 20,104 - -
and Mandatory Deductions 2,852 2,454 82,556 93,253 121,644 -
Contribution 5 58 - - - -
Release of Inter-Agency Fund Transfers - - 6,989 - - -
Other Disbursements 27,453 19,211 - - 344,059 441,337
Adjustments - - - - 283,161 -
Adjusted Cash Outflows 300,477 277,814 914,645 945,698 1,453,587 1,237,843

Activities 104,202 39,406 265,907 230,493 94,995 49,973
Cash Inflows
Receipt of Interest Earned 642 639 9,437 6,717 - -
Proceeds from Matured Investments/Redemption - - 1,491,188 1,247,318 - -
Total Cash Inflows 785 681 1,500,625 1,254,035 - -
Adjusted Cash Inflows 785 681 1,500,625 1,254,035 - -
Cash Outflows
Equipment - 3,508 14,829 25,551 96,348 50,666
Purchase/Acquisition of Investments - - 1,184,583 1,486,584 - -
Total Cash Outflows - 3,508 1,199,412 1,512,134 96,348 50,666
Adjusted Cash Outflows - 3,508 1,199,412 1,512,134 96,348 50,666

Activities 785 (2,828) 301,213 (258,100) (96,348) (50,666)
694
(in thousand pesos)
CITEM DAP LCP

2018 2017 2018 2017 2018 2017
Cash Inflows
Cash Outflows
Total Cash Outflows - - - - - -
Adjusted Cash Outflows - - - - - -

Activities - - - - - -

EQUIVALENTS 104,986 36,578 567,119 (27,607) (1,353) (693)

Cash Equivalents 5,700 514 492 (18) - -
695
(in thousand pesos)
NKTI PCED PCMC

2018 2017 2018 2017 2018 2017
Cash Inflows
Proceeds from Sale of Goods and Services 3,701,748 2,612,591 - - 94,121 104,161
Collection of Income/Revenue - - 6,194 8,493 20,303 20,894
Collection of Receivables - - 1,021 550 507,237 372,676
Receipt of Inter-Agency Fund Transfers - - 13,712 618 549,621 257,490
Receipt of Intra-Agency Fund Transfers - - - - 1,440,370 190,228
Trust Receipts 2,473,160 872,348 - - 119,444 134,799
Other Receipts - - 90 36 33,459 46,731
Adjustments - 5,617 254 456 625 1,130
Cash Outflows
Purchase of Inventories - - 893 805 425 447
Grant of Cash Advances - - 30 100 9,643 10,046
Prepayments - - - - 2,384 94,641
Payments of Accounts Payable - - 895 1,010 342,401 1,831,954
and Mandatory Deductions - - 1,679 1,865 195,338 309,386
Release of Inter-Agency Fund Transfers 2,013,234 372,733 19,139 140 - -
Other Disbursements 147,248 64,727 7 19 1,382,371 128,874
Adjustments - - - 57 2,939 2,000

Activities 1,549,280 540,712 3,687 29,934 897,961 (1,397,082)
Cash Inflows
and Equipment 1,503 280 - - - -
Proceeds from Matured Investments/Redemption - - - 11,772 - -
Total Cash Inflows 1,503 280 - 11,772 - -
Adjusted Cash Inflows 1,503 280 - 11,772 - -
Cash Outflows
Equipment 115,586 123,416 - 20 317,900 209,290
Purchase/Acquisition of Investments - - - 11,645 - -
Total Cash Outflows 115,586 123,416 - 11,665 317,900 209,290
Adjusted Cash Outflows 115,586 123,416 - 11,665 317,900 209,290

Activities (114,083) (123,137) - 107 (317,900) (209,290)
696
(in thousand pesos)
NKTI PCED PCMC

2018 2017 2018 2017 2018 2017
Cash Inflows
Cash Outflows


EQUIVALENTS 1,435,197 417,575 3,687 30,041 580,061 (1,606,372)

Cash Equivalents (4,257) 1,237 - - - -
CASH AND CASH EQUIVALENTS, JANUARY 1 2,997,776 2,578,963 52,173 22,133 257,091 1,863,463
697
(in thousand pesos)
PHC PIDS PITAHC

2018 2017 2018 2017 2018 2017
(Restated)
Cash Inflows
Proceeds from Sale of Goods and Services - - - - 1,818 9,156
Receipt of Inter-Agency Fund Transfers - - 41,815 1,400 - 500
Receipt of Intra-Agency Fund Transfers - - - - 334 19
Trust Receipts - - 15,616 15,317 755 641
Other Receipts - - 18,331 12,824 1,476 3,797
Adjustments - - - - 6,296 (471)
Cash Outflows
Purchase of Inventories - - 1,635 1,272 846 4,500
Grant of Cash Advances - - 12,545 9,663 1,209 1,132
Prepayments - - 13,412 8,253 567 36,866
Refund of Deposits - - 115 520 525 310
Payments of Accounts Payable 2,032,394 1,769,133 - - 22,251 3,337
Release of Intra-Agency Fund Transfers - - - - 729 -
Other Disbursements - - - - 17,531 518
Adjustments - - 699 2,427 - -

Activities 620,310 537,942 41,536 24,810 (2,322) 9,213
Cash Inflows
and Equipment 2 698 118 - - -
Proceeds from Matured Investments/Redemption - - 185,639 62,945 100,854 204,256
Cash Outflows
Equipment 297,083 286,148 2,264 7,075 10,536 6,988
Purchase/Acquisition of Investments - - 436,737 79,939 70,000 210,000

Activities (283,115) (275,785) (253,244) (24,069) 20,318 (12,732)
698
(in thousand pesos)
PHC PIDS PITAHC

2018 2017 2018 2017 2018 2017
(Restated)
Cash Inflows
Cash Outflows


EQUIVALENTS 337,196 262,157 (211,709) 741 17,996 (3,519)

Cash Equivalents 5,527 436 (88) (185) - -
CASH AND CASH EQUIVALENTS, JANUARY 1 1,223,290 960,697 282,728 282,171 22,838 26,357
699
(in thousand pesos)
PTNI TPB VFP

2018 2017 2018 2017 2018 2017
Cash Inflows
Receipt of Assistance/Subsidy 262,705 317,273 - - - -
Collection of Receivables 436 71,429 - - 516 537
Receipt of Inter-Agency Fund Transfers - - 81,899 - - -
Trust Receipts - - 1,476 - 3,716 15,635
Other Receipts 4,804 8,595 679 - 4,152 2,134
Adjustments 5,013 26,409 - - 101 3,485
Cash Outflows
Payment of Expenses 256,491 249,948 - - 114,477 97,133
Purchase of Inventories 1,144 78 - - 1,987 -
Grant of Cash Advances 19,029 29,047 - - 1,161 279
Prepayments 3,366 60 - - - -
Refund of Deposits - - 625 3,586 - 706
Payments of Accounts Payable 13,813 - - - 256 1,689
Contribution - - - - 529 484
Other Disbursements 18,388 - - - 30,402 8,593
Total Cash Outflows 386,089 324,580 625 3,586 148,812 108,885
Adjustments 2,347 - - - - -
Adjusted Cash Outflows 388,435 324,580 625 3,586 148,812 108,885

Activities 118,376 318,925 107,486 44,503 164,794 150,077
Cash Inflows
Receipt of Interest Earned - - 285 6,167 - -
Proceeds from Matured Investments/Redemption - - - 3,315 - -
Total Cash Inflows - - 285 9,482 - -
Adjusted Cash Inflows - - 285 9,482 - -
Cash Outflows
Equipment 272,325 462,698 - - 1,201 1,259
Purchase/Acquisition of Investments - - - - 100,000 400,000

Activities (223,240) (380,849) 285 9,482 (101,201) (401,259)
700
(in thousand pesos)
PTNI TPB VFP

2018 2017 2018 2017 2018 2017
Cash Inflows
Cash Outflows


EQUIVALENTS (104,864) (61,924) 107,771 53,985 63,593 (251,182)

701
STATEMENT OF
COMPARISON OF
BUDGET AND ACTUAL
AMOUNTS
Statement of Comparison of Budget and Actual Amounts
(in thousand pesos)
TOTAL

Difference
Amounts on
Final Budget
and Actual
Basis
RECEIPTS
Others - 119 119 -
Total Receipts 169,087 174,562 115,718 58,844
PAYMENTS
Capital Outlay 41,220 41,220 12,525 28,695
Total Payments 236,136 215,614 140,426 75,187
CIC

Difference
Amounts on
Final Budget
and Actual
Basis
RECEIPTS
Others - 15 15 -
Total Receipts 138,587 138,626 76,945 61,682
PAYMENTS
Maintenance and Other Operating 100,088 91,034 66,908 24,126
Capital Outlay 41,220 41,220 12,525 28,695
Total Payments 185,910 176,661 104,569 72,092
702
(in thousand pesos)
LCDFI

Difference
Amounts on
Final Budget
and Actual
Basis
RECEIPTS
Services and Business Income 1,500 1,500 1,031 469
Others - 104 104 -
Total Receipts 30,500 35,935 38,773 (2,838)
PAYMENTS
Personnel Services 21,643 15,090 14,341 748
Total Payments 50,226 38,953 35,857 3,095
NET RECEIPTS/PAYMENTS (19,726) (3,017) 2,916 (5,933)
703
(in thousand pesos)
TOTAL

Difference
Amounts on
Final Budget
and Actual
Basis
RECEIPTS
Others - - 5,454,299 (5,454,299)
Total Receipts 95,555,741 95,555,741 8,151,741 87,404,000
PAYMENTS
Capital Outlay 92,571,053 92,559,898 13,484,135 79,075,763
Financial Expenses - - 5,985 (5,985)
Others - - 347,662 (347,662)
Total Payments 95,515,770 94,888,575 15,621,656 79,266,919
NET RECEIPTS/PAYMENTS 39,971 667,166 (7,469,916) 8,137,082
ECC

Difference
Amounts on
Final Budget
and Actual
Basis
RECEIPTS
Total Receipts 614,138 614,138 532,490 81,648
PAYMENTS
Personnel Services 153,176 145,070 147,507 (2,437)
Capital Outlay 130,650 119,495 24,054 95,441
Total Payments 574,167 532,490 321,722 210,768
NET RECEIPTS/PAYMENTS 39,971 81,648 210,768 (129,120)
704
(in thousand pesos)
NHA

Difference
Amounts on
Final Budget
and Actual
Basis
RECEIPTS
Shares, Grants and Donations - - 200,000 (200,000)
Others - - 5,454,299 (5,454,299)
Total Receipts 94,941,603 94,941,603 7,619,251 87,322,352
PAYMENTS
Capital Outlay 92,440,403 92,440,403 13,460,082 78,980,321
Financial Expenses 5,985 (5,985)
Others - - 347,662 (347,662)
Total Payments 94,941,603 94,356,085 15,299,934 79,056,151
NET RECEIPTS/PAYMENTS - 585,518 (7,680,683) 8,266,201
705
(in thousand pesos)
TOTAL

Difference
Amounts on
Final Budget
and Actual
Basis
RECEIPTS
Gains - - 639,040 (639,040)
Others 62,299,526 61,113,117 34,216,217 26,896,900
Total Receipts 239,865,291 238,292,288 184,931,889 53,360,400
PAYMENTS
Capital Outlay 29,796,993 29,797,843 5,268,237 24,529,605
Others 10,188,390 11,754,697 8,161,797 3,592,900
Total Payments 247,444,924 250,610,605 171,564,043 79,046,562
LRTA

Difference
Amounts on
Final Budget
and Actual
Basis
RECEIPTS
Gains - - - -
Others - - - -
Total Receipts 10,059,765 9,990,919 5,801,903 4,189,016
PAYMENTS
Capital Outlay 4,500,106 4,500,106 1,123,107 3,376,999
Financial Expenses 3,533,412 3,464,566 4,209,888 (745,322)
Others - - - -
Total Payments 10,059,765 9,968,463 6,727,792 3,240,671
NET RECEIPTS/PAYMENTS - 22,456 (925,888) 948,344
706
(in thousand pesos)
LWUA
Budgeted Amounts Actual Difference

Amounts on
Basis
RECEIPTS
Services and Business Income 1,458,048 1,458,048 1,263,969 194,078
Gains - - - -
Others 3,080,059 3,080,059 87,496 2,992,562
Total Receipts 8,036,471 8,036,471 2,561,684 5,474,788
PAYMENTS
Capital Outlay 9,267,030 9,267,030 932,504 8,334,526
Financial Expenses 627,342 627,342 664,118 (36,776)
Others - - - -
Total Payments 10,853,320 10,806,579 2,252,140 8,554,439
NET RECEIPTS/PAYMENTS (2,816,849) (2,770,107) 309,544 (3,079,651)
MWSS

Difference
Amounts on
Final Budget
and Actual
Basis
RECEIPTS
Assistance and Subsidy - - - -
Gains - - 1,192 (1,192)
Others 1,048,192 1,048,192 1,163,881 (115,689)
Total Receipts 4,800,448 4,800,448 3,817,289 983,159
PAYMENTS
Maintenance and Other Operating Expenses 2,341,274 2,297,528 3,771,398 (1,473,870)
Capital Outlay 2,187,172 2,187,172 1,210,859 976,313
Financial Expenses - - - -
Others - - - -
Total Payments 4,800,448 4,753,956 5,189,369 (435,413)
NET RECEIPTS/PAYMENTS - 46,492 (1,372,080) 1,418,572
707
(in thousand pesos)
NEA

Difference
Amounts on
Final Budget
and Actual
Basis
RECEIPTS
Services and Business Income 628,159 628,159 700,584 (72,424)
Gains - - - -
Others - - - -
Total Receipts 664,330 664,330 717,790 (53,460)
PAYMENTS
Maintenance and Other Operating Expenses 209,348 209,348 267,978 (58,630)
Capital Outlay 34,057 34,057 631 33,426
Financial Expenses - 113,812 107,364 6,448
Others - - - -
Total Payments 683,564 797,376 617,836 179,541
NPC

Difference
Amounts on
Final Budget
and Actual
Basis
RECEIPTS
Shares, Grants and Donations 12,316,764 12,351,464 12,558,891 (207,427)
Gains - - - -
Others 1,318,824 234,869 1,834,914 (1,600,045)
Total Receipts 19,461,724 18,594,155 17,012,486 1,581,669
PAYMENTS
Personnel Services 2,049,143 2,049,279 728,334 1,320,945
Capital Outlay 6,908,826 6,908,826 1,334,352 5,574,473
Others 6,636,408 6,931,104 6,890,186 40,918
Total Payments 24,605,137 28,192,076 18,871,129 9,320,947
NET RECEIPTS/PAYMENTS (5,143,414) (9,597,920) (1,858,643) (7,739,277)
708
(in thousand pesos)
PNR

Difference
Amounts on
Final Budget
and Actual
Basis
RECEIPTS
Services and Business Income 1,077,642 1,077,642 447,807 629,835
Gains - - - -
Others - - 25,700 (25,700)
Total Receipts 7,507,705 7,507,705 2,061,994 5,445,711
PAYMENTS
Capital Outlay 5,185,872 5,185,872 74,910 5,110,962
Others - - - -
Total Payments 7,490,059 7,490,059 1,167,937 6,322,122
PPC

Difference
Amounts on
Final Budget
and Actual
Basis
RECEIPTS
Gains - - - -
Others 44,974 68,394 75,392 (6,999)
Total Receipts 4,512,188 4,001,473 3,687,197 314,277
PAYMENTS
Capital Outlay - - - -
Others - - - -
Total Payments 4,265,205 3,914,671 3,674,765 239,906
NET RECEIPTS/PAYMENTS 246,983 86,802 12,432 74,370
709
(in thousand pesos)
PSALM

Difference
Amounts on
Final Budget
and Actual
Basis
RECEIPTS
Gains - - 637,847 (637,847)
Others 54,741,859 54,741,859 29,374,983 25,366,876
Total Receipts 179,079,347 179,079,347 147,521,595 31,557,752
PAYMENTS
Capital Outlay 122,007 122,857 34,938 87,919
Others - 1,271,611 1,271,611 -
Total Payments 179,069,986 179,069,986 132,155,446 46,914,540
NET RECEIPTS/PAYMENTS 9,361 9,361 15,366,149 (15,356,788)
TRANSCO

Difference
Amounts on
Final Budget
and Actual
Basis
RECEIPTS
Services and Business Income 3,677,694 3,677,694 96,102 3,581,592
Gains - - - -
Others 2,065,618 1,939,745 1,653,849 285,896
Total Receipts 5,743,312 5,617,439 1,749,951 3,867,488
PAYMENTS
Capital Outlay 1,591,923 1,591,923 556,935 1,034,988
Financial Expenses 418 418 218 200
Others 3,551,982 3,551,982 - 3,551,982
Total Payments 5,617,439 5,617,439 907,630 4,709,809
NET RECEIPTS/PAYMENTS 125,873 - 842,321 (842,321)
710
(in thousand pesos)
TOTAL

Difference
Amounts on
Final Budget
and Actual
Basis
RECEIPTS
Tax Revenue 2,564,000 2,564,000 3,181,864 (617,864)
Gains - - 3,063 (3,063)
Others 233,846 233,846 223,271 10,575
Total Receipts 4,167,439 3,947,103 4,362,372 (415,270)
PAYMENTS
Capital Outlay 2,188,922 1,996,750 1,785,264 211,486
Others 33,118 33,708 76,146 (42,438)
Total Payments 4,093,051 3,611,240 3,173,927 437,313
NET RECEIPTS/PAYMENTS 74,388 335,863 1,188,446 (852,583)
APECO

Difference
Amounts on
Final Budget
and Actual
Basis
RECEIPTS
Tax Revenue - - - -
Services and Business Income 20,219 - 20,575 (20,575)
Gains - - - -
Others - - - -
Total Receipts 417,927 197,591 115,452 82,139
PAYMENTS
Capital Outlay 338,195 144,459 39,870 104,589
Others - - - -
Total Payments 417,927 197,591 93,307 104,284
NET RECEIPTS/PAYMENTS - - 22,145 (22,145)
711
(in thousand pesos)
CFI

Difference
Amounts on
Final Budget
and Actual
Basis
RECEIPTS
Tax Revenue - - - -
Services and Business Income 15,551 15,551 16,118 (567)
Gains - - - -
Others 1,080 1,080 1,232 (153)
Total Receipts 16,631 16,631 17,350 (720)
PAYMENTS
Personnel Services 8,498 8,498 9,010 (513)
Maintenance and Other Operating Expenses 11,716 11,716 11,994 (278)
Capital Outlay - 1,655 1,655 -
Others - - - -
Total Payments 20,214 21,869 22,659 (790)
NET RECEIPTS/PAYMENTS (3,583) (5,238) (5,309) 71
LLDA

Difference
Amounts on
Final Budget
and Actual
Basis
RECEIPTS
Tax Revenue - - - -
Shares, Grants and Donations - - 37,977 (37,977)
Gains - - 2,063 (2,063)
Others 103,007 103,007 7,908 95,099
Total Receipts 406,996 406,996 258,479 148,517
PAYMENTS
Capital Outlay 116,143 116,143 23,459 92,684
Financial Expenses - - 37 (37)
Others - - 43,310 (43,310)
Total Payments 406,996 363,577 304,423 59,154
NET RECEIPTS/PAYMENTS - 43,419 (45,944) 89,363
712
(in thousand pesos)
PDA

Difference
Amounts on
Final Budget
and Actual
Basis
RECEIPTS
Tax Revenue - - - -
Gains - - - -
Others 198 198 172 27
Total Receipts 154,997 154,997 118,117 36,880
PAYMENTS
Capital Outlay 20,266 20,266 7,890 12,376
Others - - - -
Total Payments 97,687 96,921 63,878 33,043
SCAD

Difference
Amounts on
Final Budget
and Actual
Basis
RECEIPTS
Tax Revenue - - - -
Gains - - - -
Others - - - -
Total Receipts 8,832 8,832 6,884 1,948
PAYMENTS
Capital Outlay 205 114 100 14
Others 181 771 173 599
Total Payments 10,181 10,885 6,259 4,626
NET RECEIPTS/PAYMENTS (1,350) (2,053) 625 (2,678)
713
(in thousand pesos)
SPDA

Difference
Amounts on
Final Budget
and Actual
Basis
RECEIPTS
Tax Revenue - - - -
Assistance and Subsidy 64,793 64,793 64,793 -
Gains - - 1,000 (1,000)
Others - - - -
Total Receipts 71,704 71,704 69,874 1,830
PAYMENTS
Others - - - -
Total Payments 49,693 67,493 59,977 7,516
TIEZA

Difference
Amounts on
Final Budget
and Actual
Basis
RECEIPTS
Tax Revenue 2,564,000 2,564,000 3,181,864 (617,864)
Gains - - - -
Others 129,561 129,561 213,959 (84,399)
Total Receipts 3,090,352 3,090,352 3,776,217 (685,865)
PAYMENTS
Capital Outlay 1,714,113 1,714,113 1,712,289 1,824
Others 32,937 32,937 32,664 273
Total Payments 3,090,352 2,852,904 2,623,424 229,480
NET RECEIPTS/PAYMENTS - 237,448 1,152,793 (915,345)
714
(in thousand pesos)
TOTAL

Difference
Amounts on
Final Budget
and Actual
Basis
RECEIPTS
Gains 5,600 5,600 6,349 (749)
Others 61,552,575 61,552,575 44,826,689 16,725,885
Total Receipts 125,332,205 125,308,349 94,841,506 30,466,843
PAYMENTS
Capital Outlay 44,458,743 43,242,774 22,281,348 20,961,426
Others 61,150,354 61,150,354 47,231,741 13,918,613
Total Payments 130,093,718 127,583,058 85,556,326 42,026,731
NDA

Difference
Amounts on
Final Budget
and Actual
Basis
RECEIPTS
Gains - - - -
Others 8,787 8,787 852 7,935
Total Receipts 588,665 588,665 495,411 93,254
PAYMENTS
Capital Outlay 480,171 480,171 17,273 462,898
Others - - - -
Total Payments 826,186 811,261 199,174 612,087
715
(in thousand pesos)
NFA

Difference
Amounts on
Final Budget
and Actual
Basis
RECEIPTS
Services and Business Income -
Assistance and Subsidy 11,762,800 11,762,800 11,333,451 429,349
Gains - - - -
Others 61,255,601 61,255,601 44,478,920 16,776,681
Total Receipts 73,018,401 73,018,401 55,812,370 17,206,031
PAYMENTS
Capital Outlay 1,004,058 1,004,058 167,696 836,362
Financial Expenses 5,304,197 5,304,197 4,338,269 965,928
Others 60,741,699 60,741,699 46,891,299 13,850,400
Total Payments 72,739,447 72,739,447 55,077,623 17,661,824
NIA

Difference
Amounts on
Final Budget
and Actual
Basis
RECEIPTS
Gains - - 5,840 (5,840)
Others 43,008 43,008 117,180 (74,173)
Total Receipts 46,499,607 46,499,607 34,177,311 12,322,296
PAYMENTS
Capital Outlay 39,637,318 39,637,318 21,676,722 17,960,596
Financial Expenses 1,498,870 1,498,870 525,560 973,310
Others - - - -
Total Payments 46,499,607 45,911,551 26,180,590 19,730,961
NET RECEIPTS/PAYMENTS - 588,056 7,996,721 (7,408,665)
716
(in thousand pesos)
NTA

Difference
Amounts on
Final Budget
and Actual
Basis
RECEIPTS
Gains - - 166 (166)
Others 4,097 4,097 875 3,222
Total Receipts 488,060 488,060 508,471 (20,411)
PAYMENTS
Capital Outlay 6,992 6,992 (135,045) 142,037
Financial Expenses 19 19 47 (28)
Others 408,655 408,655 288,154 120,501
Total Payments 757,980 755,815 312,834 442,981
PCA

Difference
Amounts on
Final Budget
and Actual
Basis
RECEIPTS
Assistance and Subsidy 1,486,466 1,486,466 1,373,549 112,917
Gains - - - -
Others 149,600 149,600 216,809 (67,209)
Total Receipts 2,118,941 2,118,941 1,940,790 178,151
PAYMENTS
Capital Outlay 1,026,716 1,026,716 236,735 789,981
Others - - 52,288 (52,288)
Total Payments 4,393,722 4,393,722 2,375,770 2,017,952
NET RECEIPTS/PAYMENTS (2,274,781) (2,274,781) (434,980) (1,839,801)
717
(in thousand pesos)
PRRI (Region 3)

Difference
Amounts on
Final Budget
and Actual
Basis
RECEIPTS
Services and Business Income 47,731 23,875 23,875 -
Gains - - - -
Others - - - -
Total Receipts 826,090 802,234 802,234 -
PAYMENTS
Capital Outlay 260,991 267,909 265,015 2,894
Others - - - -
Total Payments 826,090 802,234 790,989 11,245
NET RECEIPTS/PAYMENTS - - 11,245 (11,245)
QUEDANCOR

Difference
Amounts on
Final Budget
and Actual
Basis
RECEIPTS
Assistance and Subsidy 149,337 149,337 - 149,337
Gains - - - -
Others 28,652 28,652 10,451 18,201
Total Receipts 226,441 226,441 70,437 156,004
PAYMENTS
Capital Outlay 15,461 13,406 56 13,350
Others - - - -
Total Payments 311,296 309,135 105,083 204,052
718
(in thousand pesos)
SRA

Difference
Amounts on
Final Budget
and Actual
Basis
RECEIPTS
Assistance and Subsidy 1,000,000 1,000,000 112,500 887,500
Gains 5,600 5,600 342 5,258
Others 62,830 62,830 1,603 61,227
Total Receipts 1,566,000 1,566,000 1,034,480 531,520
PAYMENTS
Capital Outlay 2,027,036 806,203 52,896 753,307
Others - - - -
Total Payments 3,739,390 1,859,892 514,264 1,345,629
NET RECEIPTS/PAYMENTS (2,173,390) (293,892) 520,217 (814,109)
719
(in thousand pesos)
TOTAL

Difference
Amounts on
Final Budget
and Actual
Basis
RECEIPTS
Gains - - 6,694 (6,694)
Others 13,691 13,691 19,350 (5,659)
Total Receipts 18,981,898 17,454,227 13,473,052 3,981,175
PAYMENTS
Capital Outlay 4,604,848 3,352,139 1,538,518 1,813,621
Others 1,112,782 852,442 450,890 401,552
Total Payments 18,087,448 15,271,232 11,735,300 3,535,933
NET RECEIPTS/PAYMENTS 894,450 2,182,994 1,737,752 445,242
BSoP

Difference
Amounts on
Final Budget
and Actual
Basis
RECEIPTS
Gains - - - -
Others - - - -
Total Receipts 372,904 372,904 282,342 90,562
PAYMENTS
Capital Outlay 8,201 11,701 5,131 6,570
Others 124,091 124,091 98,573 25,518
Total Payments 372,904 376,404 286,484 89,919
NET RECEIPTS/PAYMENTS - (3,500) (4,143) 643
720
(in thousand pesos)
CCP

Difference
Amounts on
Final Budget
and Actual
Basis
RECEIPTS
Gains - - - -
Others 1,076 1,076 5,040 (3,964)
Total Receipts 1,051,661 537,825 556,275 (18,450)
PAYMENTS
Capital Outlay 1,363,182 504,426 398,277 106,149
Others 19,412 19,412 19,012 400
Total Payments 1,910,072 1,027,478 866,281 161,197
CITEM

Difference
Amounts on
Final Budget
and Actual
Basis
RECEIPTS
Gains - - 5,700 (5,700)
Others - - - -
Total Receipts 314,737 314,737 321,535 (6,798)
PAYMENTS
Capital Outlay 7,896 7,896 - 7,896
Others - - - -
Total Payments 314,737 310,570 254,817 55,753
NET RECEIPTS/PAYMENTS - 4,167 66,718 (62,551)
721
(in thousand pesos)
DAP

Difference
Amounts on
Final Budget
and Actual
Basis
RECEIPTS
Gains - - - -
Others - - - -
Total Receipts 1,670,544 1,670,544 653,317 1,017,227
PAYMENTS
Capital Outlay 740,704 740,704 35,510 705,194
Others - - - -
Total Payments 1,617,801 1,606,710 591,521 1,015,189
LCP

Difference
Amounts on
Final Budget
and Actual
Basis
RECEIPTS
Gains - - - -
Others - - - -
Total Receipts 1,211,590 1,211,590 880,880 330,710
PAYMENTS
Capital Outlay 202,836 202,836 60,435 142,401
Others - - - -
Total Payments 1,211,590 1,146,260 815,046 331,214
NET RECEIPTS/PAYMENTS - 65,330 65,834 (504)
722
(in thousand pesos)
NKTI

Difference
Amounts on
Final Budget
and Actual
Basis
RECEIPTS
Gains - - - -
Others - - - -
Total Receipts 6,707,345 5,672,961 4,481,450 1,191,511
PAYMENTS
Maintenance and Other Operating Expenses 2,929,350 2,005,649 2,005,275 374
Capital Outlay 1,164,180 1,000,200 485,885 514,315
Others - - - -
Total Payments 4,799,113 3,624,981 3,044,174 580,807
NET RECEIPTS/PAYMENTS 1,908,232 2,047,980 1,437,276 610,704
PCED

Difference
Amounts on
Final Budget
and Actual
Basis
RECEIPTS
Gains - - - -
Others - - - -
Total Receipts 43,925 43,925 42,119 1,806
PAYMENTS
Personnel Services 3,934 3,880 3,274 606
Others - - - -
Total Payments 43,859 43,496 30,886 12,610
NET RECEIPTS/PAYMENTS 66 429 11,234 (10,805)
723
(in thousand pesos)
PCMC

Difference
Amounts on
Final Budget
and Actual
Basis
RECEIPTS
Gains 335 (335)
Others 12,615 12,615 14,296 (1,681)
Total Receipts 1,727,645 1,727,645 1,241,905 485,740
PAYMENTS
Capital Outlay 625,060 388,109 208,649 179,460
Financial Expenses 500 166 265 (99)
Others - - - -
Total Payments 1,727,645 1,443,977 1,145,640 298,337
NET RECEIPTS/PAYMENTS - 283,668 96,265 187,403
PHC

Difference
Amounts on
Final Budget
and Actual
Basis
RECEIPTS
Gains - - - -
Others - - - -
Total Receipts 4,205,491 4,205,491 3,932,878 272,613
PAYMENTS
Capital Outlay 427,021 427,021 330,631 96,390
Others - - - -
Total Payments 4,205,491 4,051,334 3,672,038 379,296
NET RECEIPTS/PAYMENTS - 154,157 260,839 (106,682)
724
(in thousand pesos)
PIDS

Difference
Amounts on
Final Budget
and Actual
Basis
RECEIPTS
Gains - - - -
Others - - - -
Total Receipts 145,890 145,890 170,138 (24,247)
PAYMENTS
Capital Outlay 2,382 2,382 2,264 118
Others - - - -
Total Payments 237,951 221,091 158,914 62,177
PITAHC

Difference
Amounts on
Final Budget
and Actual
Basis
RECEIPTS
Gains - - - -
Others - - - -
Total Receipts 132,309 132,309 113,502 18,807
PAYMENTS
Capital Outlay 16,509 16,509 10,536 5,973
Others - - - -
Total Payments 184,558 166,732 137,018 29,714
725
(in thousand pesos)
PTNI

Difference
Amounts on
Final Budget
and Actual
Basis
RECEIPTS
Gains - - - -
Others - - - -
Total Receipts 1,064,489 1,064,489 461,084 603,405
PAYMENTS
Others 708,939 708,939 333,305 375,634
Total Payments 1,036,950 965,546 616,273 349,273
NET RECEIPTS/PAYMENTS 27,539 98,943 (155,189) 254,132
TPB

Difference
Amounts on
Final Budget
and Actual
Basis
RECEIPTS
Gains - - 660 (660)
Others - - 14 (14)
Total Receipts 31,200 31,200 30,506 694
PAYMENTS
Personnel Services - - - -
Maintenance and Other Operating Expenses - - - -
Others - - - -
Total Payments - - - -
NET RECEIPTS/PAYMENTS 31,200 31,200 30,506 694
726
(in thousand pesos)
VFP

Difference
Amounts on
Final Budget
and Actual
Basis
RECEIPTS
Gains - - - -
Others - - - -
Total Receipts 302,169 322,718 305,121 17,596
PAYMENTS
Capital Outlay 46,877 50,355 1,201 49,154
Others 260,340 - - -
Total Payments 424,778 286,654 116,207 170,448
NET RECEIPTS/PAYMENTS (122,609) 36,063 188,915 (152,852)
727
COMMISSION ON AUDIT
KEY OFFICIALS
COMMISSION PROPER
Michael G. Aguinaldo
Chairperson
Jose A. Fabia
Commissioner
Roland C. Pondoc
Commissioner
Assistant Commissioners
Joseph B. Anacay
Adelina Concepcion L. Ancajas
Luzvi Pangan Chatto
Winnie Rose H. Encallado
Susan P. Garcia
Alexander B. Juliano
Carmela S. Perez
Manolo C. Sy
Luz L. Tolentino
Elizabeth S. Zosa
CORPORATE GOVERNMENT SECTOR
Winnie Rose H. Encallado
Assistant Commissioner
Cluster 1 – Banking and Credit

Adela L. Dondonilla – Director IV
Milagros B. Sonido – State Auditor V, Acting Assistant Director
Cluster 2 – Social Security Services and Housing

Ma. Lisa P. Inguillo – Director III, Officer In-Charge
Ma. Lydia F. De Joya – Director III
Cluster 3 – Public Utilities

Leila S. Paras – Director IV
Julia E. Moreno – Director III
Cluster 4 – Industrial and Area Development

Elsielyn C. Masangkay – Director IV
Emma V. Moises – State Auditor V, Acting Assistant Director
Cluster 5 – Agricultural and Natural Resources

Mary S. Adelino – Director IV
Cora D. Marquez – Director III
Cluster 6 – Social, Cultural, Trading, Promotional

and Other Services
Cleotilde M. Tuazon – Director IV
May Linda M. Vegafria – State Auditor V, Acting Assistant Director
LOCAL GOVERNMENT SECTOR
Joseph B. Anacay
Carmelita O. Antasuda – Director IV

Reynaldo G. Gamutan – Director III
COA REGIONAL OFFICIALS
LUZON GROUP
COA National Capital Region COA Cordille ra Administrative Region
Omar S. Roque – Director III, Officer In-Charge Eden T. Rafanan – Director IV
Teresita A. Pajara – State Auditor V, Acting Assistant Director M ary D. Bacwaden – Director III
COA Regional Office No. I COA Regional Office No. II

M ichael R. Bacani – Director IV Susan C. Ramirez – Director III, Officer In-Charge
Cecilia G. Ancheta – State Auditor V, Acting Assistant Director Bismarck R. Turingan – State Auditor V, Acting Assistant Director
COA Regional Office No. III COA Regional Office No. IV-A
Lynn SF. Sicangco – Director IV M ario G. Lipana – Director III, Officer In-Charge
Chona P. Laxamana – State Auditor V, Acting Assistant Director M aria Oliva V. Ortega – Director III
COA Regional Office No. IV-B COA Regional Office No. V

M a. Corazon S. Gomez – Director IV Roland A. Rey – Director IV
Lynflor M . Adolfo – Director III Lydia S. Adoremos – Director III
VISAYAS GROUP
COA Regional Office No. VI COA Regional Office No. VII
Chona P. Labrague – Director IV M arilou M . Rizarri – Director III, Officer In-Charge
Daisylyn T. Tavarro – State Auditor V, Acting Assistant Director Eva P. Cabrera – State Auditor V, Acting Assistant Director
COA Regional Office No. VIII COA Sub-Regional Office No. XVI
Lita E. Diez – Director IV Chito C. Janaban – Director III, Officer In-Charge
M arisol D. Legaspi – Director III
MINDANAO GROUP
COA Regional Office No. IX COA Regional Office No. X
Visitacion Q. M endoza – Director IV Celso L. Vocal – Director IV
Daphne Grace P. Bellen – Director III Jerry K. M ero – Director III
COA Regional Office No. XI COA Regional Office NO. XII

Roy L. Ursal – Director IV Susan P. Donalvo – Director IV
Helen M . Cailing – Director III Virginia G. Datukon – Director III
COA Regional Office No. XIII COA Autonomous Region in Muslim Mindanao
Felix M . Basallaje, Jr. – Director III, Officer In-Charge Bato S. Ali, Jr. - Director IV
M erne D. Peñaranda – State Auditor V, Acting Assistant Director
GOVERNMENT ACCOUNTANCY SECTOR
Office of the Assistant Commissioner

Luzvi Pangan Chatto
Atty. Juanita C. Fuggan State Auditor IV, Officer In-Charge, Chief of Staff
Luisa S. Nadonga Supervising Administrative Officer
Editha C. Ramirez Administrative Assistant VI
Maricel S. Ampoc Administrative Officer II
Benjie D. Baturi Administrative Aide VI
Magdalena M. Gaviola Administrative Aide IV
Government Accountancy Office

Office of the Director
Villa DJ. Bernaldo
Director IV
Maria S. Sarmiento
Director III
Ma. Belen L. Estuaria Chief Administrative Officer
Mary Jane S. Liberato Administrative Officer IV
Rufa L. Gunabe Administrative Aide V
Teddy N. Alejandro Administrative Aide IV
General Accounts Services - National I

Anicia H. Guillermo
State Auditor V
Lorelei L. Datu State Auditor IV
Carol M. Orpia State Auditor II
Bryan B. Viloria State Auditor I
Jannette N. Caluya State Auditor I
Jay R M. Morales State Auditing Examiner II
General Accounts Services - National II

Thelma F. Panganiban
State Auditor V
Narcisa S. dela Rosa State Auditor III
Jane L. Maramag State Auditor III
Ma. Corazon D. Eguia State Auditor II
Earvin John R. Bote State Auditor I
Erwin C. Santos State Auditing Examiner II
Public Debt and Miscellaneous Accounts Services

Marilyn C. Bibat
State Auditor V
Elmer M. Grande State Auditor IV
Visitacion T. Corpuz State Auditor III
Jose Jayson L. Medel State Auditor II
Joseph Emmanuel I. Romero State Auditor I
Luthor Ace C. Villalva State Auditor I
Local Government Accounts Services
Avelina G. Marquez
State Auditor IV, Officer In-Charge, Service Chief
Maribel G. Cablayan State Auditor III
Aida A. Donasco State Auditor III
Joven L. Recto State Auditor III
Elizabeth D. Ducay State Auditor II
Ana Liza G. Balares State Auditing Examiner II
Corporate Government Accounts Services

Editha M. Ramirez
State Auditor V
Ma. Lourdes D. Marayan State Auditor IV
Zenaida P. Balmes State Auditor III
Elizabeth P. Quiban State Auditor II
Princess B. Somera State Auditor II
Zosimo C. Gamanos, Jr. State Auditor I
Gillina R. Misola State Auditing Examiner II
Accounting Systems Development and Other Services Office

Office of the Director
Lucila M. Isidro
Director III, Officer In-Charge
Annabelle A. Puserio
State Auditor V, Acting Assistant Director
Ana Marie D. Gellecanao Supervising Administrative Officer

Berlin M. Quevedo Administrative Officer II
Lailah D. Chua Administrative Officer II
Marissa D. Labajan Administrative Aide IV
Arjay T. Melitado Job Order
Accounting Systems Development and Other Services – National

Vanessa Donnabel M. Lorenzo
State Auditor IV, Officer in-Charge, Service Chief
Pretizel Ivy T. Arteche State Auditor II
Barby Ann G. Laceda State Auditing Examiner II
Santiago Francisco V. Sagad III State Auditing Examiner II
Dessaries T. Gow Administrative Aide VI
Accounting Systems Development and Other Services - Corporate

Annabella P. Gabiran
State Auditor V
Arnel A. Manalastas State Auditor I
Ma. Yvonne J. Regala State Auditing Examiner II
Xezarajjah S. Villanueva State Auditing Examiner II
Accounting Systems Development and Other Services - Local
Jorgen Z. Fulleros
State Auditor IV, Officer In-Charge, Service Chief
Carmen Z. Zafe
State Auditor V (Retired – July 20, 2019)
Cristina C. Gungon State Auditor III

Hannah Grace V. Namayan State Auditor I
Rochelle H. Linsangan State Auditing Examiner II
Mhay L. Ondoy Administrative Aide VI
Technical Assistance and Help Desk Services

Romeo C. Cruz
State Auditor V
Michelle M. Gagarra Information Systems Analyst II
Ma. Karizza A A. Cabildo Administrative Officer II
Dianne Nicole G. Gabriel Administrative Officer II
Sarah Joy M. Lambino Administrative Officer II
Lev Justin E. Saclayan Administrative Officer II
Kayla Mae B. Servigon Administrative Officer II
Jenica V. Edoria State Auditing Examiner II
Gabriel B. Mercado Computer Maintenance Technologist I
Jeline G. Esase Computer Maintenance Technologist I
Lara Jane DT. Malab Administrative Aide VI
Shekinah Roebec M. Osorio Administrative Aide VI
Christian L. Baturi Administrative Aide VI

2018 AFR GCs Volume I PDF

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CY 2018

Contents and Limitations

a. Statement of Financial Position;

The Statement of Comprehensive Income (SCI) is a combination of the SCIs submitted by

Part I – Financial Highlights

Part II – Combined Financial Statements

 Combined Statement of Financial Position.................................................... 13

Part III – Schedules and Annexes

Part IV – Summary of Audit Results

 Summary of Audit Results ........................................................................... 207

Part V – Financial Statements

A. Combined Financial Statements, by Cluster

AAIIBP Al-Amanah Islamic Investment Bank of the Philippines

Chart I-1 Comparative Financial Position

Assets – P13.309 trillion

Current Assets Non-Current Assets

Current Assets – P7.219 trillion

Table I-1 Comparative Composition of Current Assets

Table I-2 Comparative Composition of Non-Current Assets

Liabilities – P9.430 trillion

Current Liabilities Non-Current Liabilities

Current Liabilities – P4.167 trillion

Table I-3 Comparative Composition of Current Liabilities

Table I-4 Comparative Composition of Non-Current Liabilities

Net Assets/Equity – P3.879 trillion

Chart I-4 Components of Net Assets/Equity

Revaluation Surplus - 185.51 Retained Earnings/(Deficit) - 2,449.94

Government Equity - 581.29

Stockholders' Equity - 284.96

Cumulative Changes in Fair Value - (32.89) Cumulative Translation Adjustment - 0.26

Income – P1.463 trillion

Chart I-5 Composition of Income

Shares, Grants and

Tax Revenue - 3.18

Table I-6 Comparative Composition of Income

Expenses – P1.159 trillion

Non-Cash Expenses - 303.17

Maintenance and Other

Personnel Services - 97.04

Financial Expenses - 92.77

Table I-7 Comparative Composition of Expenses

Comprehensive Income – P254.74 billion

Chart I-7 Comparative Cash Inflows and Outflows

5,000 4,841.93 4,777.39

Philippine Public Sector Accounting Standards (PPSAS) 24–Presentation of Budget

Total Assets 13,308,966,189 12,608,665,225

Total Liabilities 9,430,186,399 8,951,742,444

Total Liabilities and Net Assets/Equity 13,308,966,189 12,608,665,225

The notes on pages 42 to 80 form part of these statements.

NOTE 2018 2017

Total Income 1,463,070,300 1,178,204,536

Total Expenses 1,158,642,128 944,845,814

Profit/(Loss) Before Tax 304,428,171 233,358,722

The notes on pages 80 to 97 form part of these statements.

ADJUSTMENTS: 47,016,541 (109,007,526) (39,700,465) - - 74,536 - (101,616,914)

The notes on pages 79 to 80 form part of these statements.

Notes 2018 2017

CASH FLOWS FROM OPERATING ACTIVITIES

CASH FLOWS FROM INVESTING ACTIVITIES

CASH FLOWS FROM FINANCING ACTIVITIES

INCREASE/(DECREASE) IN CASH AND

Effects of Exchange Rate Changes on Cash and

CASH AND CASH EQUIVALENTS, JANUARY 1 1,455,715,436 1,238,336,219