R.P. Mora & Co.

Certified Public Accountants

SAINT SCHOOL OF LALIB ERTAD, NEGROS ORIENTAL, INC.
(A Nonstock, Nonprofit Educational Institution)
STATEMENTS OF RECEIPTS AND DISB URSEMENTS
Ye ar e nde d April 30
2018 2017

Re ve nue s
Tuition and other school fees ₱ 2,041,001 ₱ 2,062,683
Books 1,016,402 994,866
3,057,403 3,057,549

Expe ns e s
Salaries and other benefits 1,640,489 1,991,804
Student aid and scholarship 6,582 -
Student services 374,418 443,247
Student activities 674,542 -
Depreciation - 288,806
Community support 82,335 208,904
Repairs and Maintenance 170,022 143,921
Utilities 96,614 105,959
Faculty Development 169,408 92,887
Fines and Penalties 44 -
other expense 600,493 268,292
3,814,948 3,543,819
Land and buliding subsidy (85,633) (85,633)
EXPENSES NET OF SUB SIDY 3,729,315 3,458,187

OTHER INCOME CHARGES

Interest income - 956

EXCESS OF EXPENSES OVER REVENUES (671,912) (399,682)

e nd-
St. Francis School – La
Results
Libertadof the Statutory Audit
As of the and for thr Fiscal Year Ended April 30, 2018
R.P. Mora & Co.
Certified Public Accountants SAINT SCHOOL OF LALIB ERTAD, NEGROS ORIENTAL, INC.
(A Nonstock, Nonprofit Educational Institution)
STATEMENTS OF ASSETS, LIAB ILITIES, AND FUND B ALANCES
April 30
2018 2017
ASSETS

Curre nt As s e ts
Cash ₱ 400,112 ₱ 464186
Trade and other recievables 248,057 122,556
Total Curre nt As s e ts 648,168 586,742

Non-curre nt As s e ts
Property and Equipment - net 3,964,395 4,233,000
3,964,395 4,233,000

TOTAL ASSETS 4,612,563 4,819,742

LIAB ILITIES AND FUND B ALANCES

Curre nt Liabilitie s
Trade and other payables 111,518 56,040
111,518 56,040
Non-curre nt Liabilitie s
Notes Payable 1,119,427 1,035,428
Depository Funds 350,719 196,310
1,470,146 1,231,738

TOTAL LIAB ILITIES 1,581,664 1,287,778

FUND B ALANCES
Land and Building Fund 2,040,962 2,040,962
General Fund 989,938 1,491,002
TOTAL FUND B ALANCES 3,030,899 3,531,964

TOTAL LIAB ILITIES AND FUND B ALANCES 4,612,563 - 4,819,742

e nd-
St. Francis School – La
Results
Libertadof the Statutory Audit
As of the and for thr Fiscal Year Ended April 30, 2018
R.P. Mora & Co.
Certified Public Accountants

Presented below are the details of the findings

and observation proposed adjustments and
recommendations, and limitations, if any.
1. No Deposit Slip was
attached to some of the daily
collections.
St. Francis School – La
Results
Libertadof the Statutory Audit
As of the and for thr Fiscal Year Ended April 30, 2018
R.P. Mora & Co.
Certified Public Accountants

Furthermore, said collection were

also not traced to the bank statements
and passbooks. Hereunder the
details:

St. Francis School – La

Results
Libertadof the Statutory Audit
As of the and for thr Fiscal Year Ended April 30, 2018
R.P. Mora & Co.
Certified Public Accountants
AMOUNT
DATE OR NUM AMOUNT IN OR DEPOSITED VARIANCE
12/ 1/ 2018 113665-113672 800.00 800.00
8/ 11/ 2017 113119-113121 2,150.00 2,150.00
8/ 11/ 2017 113119-113121 5,000.00 5,000.00
1/ 10/ 2017 112830-112837 8,342.00 4,842.00 3,500.00
2/ 10/ 2017 112838-112846 8,100.00 8,100.00
10/ 8/ 2017 112549-112572 27,823.00 27,823.00
8/ 14/ 2017 112573-112577 7,750.00 7,250.00 500.00
7/ 25/ 2017 112371-112378 7,223.84 5,223.84 2,000.00
6/ 28/ 2017 112170 224.00 224.00
6/ 28/ 2017 112171 880.00 880.00
6/ 29/ 2017 112172 240.00 240.00
6/ 29/ 2017 112173 60.00 60.00
6/ 29/ 2017 112174 2,000.00 2,000.00
6/ 29/ 2017 112175 908.00 908.00
6/ 29/ 2017 112176 908.00 908.00
6/ 30/ 2017 112177 2,000.00 2,000.00
5/ 17/ 2017 111898 6,180.22 6,180.22
5/ 17/ 2017 111899 4,833.50 4,833.50
5/ 19/ 2017 111913 4,183.50 4,183.50

TOTAL 72,290.22
St. Francis School – La
Results
Libertadof the Statutory Audit
As of the and for the Fiscal Year Ended April 30, 2018
R.P. Mora & Co.
Certified Public Accountants

Implication/s:
Cash collections of the dates presented
above may have not been deposited.

St. Francis School – La

Results
Libertadof the Statutory Audit
As of the and for thr Fiscal Year Ended April 30, 2018
R.P. Mora & Co.
Certified Public Accountants

Proposed Adjustments and/or Recommendations

We propose to set up a receivable account to the accountable
person who was in charge of the collection and preparation of
the deposit slips. Furthermore, VP finance should assign
someone who will review the daily cash collections and
compare it to the deposit slips before going to the bank. This is
to ensure that all deposits are in tact.

St. Francis School – La

Results
Libertadof the Statutory Audit
As of the and for thr Fiscal Year Ended April 30, 2018
R.P. Mora & Co.
Certified Public Accountants

Management’s Response, Comments and Plan of Actions

St. Francis School – La

Results
Libertadof the Statutory Audit
As of the and for thr Fiscal Year Ended April 30, 2018