ORMOC CITY

COMBINED
Comparative Statements of Financial Position
As at December 31, 2018 and 2017

ASSETS Note 2018 2017

Current Assets
Cash and Cash Equivalent 4 2,153,054,387.57 1,911,275,522.91
Investments
Receivables 5 206,502,951.64 225,001,300.79
Inventories 6 53,305,723.81 43,277,914.44
Prepayments and Deferred Charges 7 57,341,378.50 21,789,665.17
Total Current Assets 2,470,204,441.52 2,201,344,403.31

Non-Current Assets
Investments
Receivables
Investment Property 8 10,080,001.00 10,080,001.00
Property, Plant and Equipment 9 3,718,027,808.23 3,690,657,571.49
Biological Assets
Intangible Assets 9 1,645,287.36 1,461,335.04
Total Non-Current Assets 3,729,753,096.59 3,702,198,907.53

Total Assets 6,199,957,538.11 5,903,543,310.84

LIABILITIES
Current Liabilities
Financial Liabilities 10 99,967,795.74 87,107,103.66
Inter-Agency Payables 10 197,472,488.26 145,497,846.55
Intra-Agency Payables 10 41,754,884.28 49,002,076.87
Trust Liabilites 11 200,025,979.64 162,178,059.09
Deferred Credits/Unearned Income
Total Current Liabilites 539,221,147.92 443,785,086.17

Non-Current Liabilites
Financial Liabilites
Deferred Credits/Unearned Income 12 72,383,018.82 83,231,473.89
Provisions
Other Payables 13 75,921,522.77 74,836,218.26
Total Non-Current Liabilities 148,304,541.59 158,067,692.15

Total Liabilities 687,525,689.51 601,852,778.32

NET ASSETS/EQUITY
Government Equity 5,512,431,848.60 5,301,690,532.52
Total Liabilites and Net Assets/Equity 6,199,957,538.11 5,903,543,310.84

See accompanying Notes to Financial Statements

4
 ORMOC CITY
COMBINED
Comparative Statements of Financial Performance
For the Years Ended December 31, 2018 and 2017

REVENUE Note 2018 2017

Tax Revenue 14 239,453,610.45 225,700,744.44
Share from Internal Revenue Collections 15 986,998,786.00 918,773,193.00
Other Shares from National Taxes 15 11,839,421.09 11,493,774.23
Service and Business Income 16 139,586,687.97 131,488,394.81
Share, Grants and Donations 17 14,412,365.30 16,765,264.55
Gains
Other Income 18 14,848,686.74 341,268.82
Total Revenue 1,407,139,557.55 1,304,562,639.85

Less : Current Operating Expenses

Personal Services 19 367,722,220.97 323,439,513.46
Maintenance and Other Operating Expenses20-25 456,987,602.65 412,520,036.01
Non-Cash Expenses 26 289,562,642.39 261,055,302.40
Total Current Operating Expenses 1,114,272,466.01 997,014,851.87

Surplus (Deficit) From Current Operation 292,867,091.54 307,547,787.98

Add (Deduct):
Transfers, Assistance Subsidy From 27 45,037,326.15 72,274,916.86
Transfers, Assistance Subsidy To 28 (116,529,371.46) (110,767,094.53)
Surplus (Deficit) for the Period 221,375,046.23 269,055,610.31

See accompanying Notes to Financial Statements

5
 ORMOC CITY
COMBINED
Comparative Statement of Cash Flows
For the Years Ended December 31, 2018 and December 31, 2017

Note 2018 2017

Cash flow s from Operating Activities
Cash Inflow s
Collection from Taxpayers 14 280,878,848.27 210,683,422.39
Share from Internal Revenue Allotment 15 986,998,786.00 918,773,193.00
Receipts from Business/Service Income 16 131,060,248.35 121,432,386.25
Subsidy from National Government Agencies 27 85,410,406.00 90,360,451.20
Subsidy from GOCCs 27 5,927,100.00 4,649,750.00
Subsidy from Other Funds
Transfer from General Fund of 2017 / 2016 LDRRMF 28 27,216,695.66 49,432,416.35
Interest Income 16 4,712,676.14 5,454,334.76
Dividend Income
Other Receipts 12, 17-18, 27 80,260,817.53 36,810,342.89
Total Cash Inflows 1,602,465,577.95 1,437,596,296.84
Cash Outflow s
Payment of expenses 20-25 302,408,001.46 277,648,762.45
Payments to suppliers and creditors 10 162,237,864.91 129,102,177.39
Payments to employees 19 341,911,523.28 324,780,280.94
Interest Expense
Other Expenses 12, 20-25 254,039,926.54 70,249,570.75
Total Cash Outflows 1,060,597,316.19 801,780,791.53
Net Cash Flow s from Operating Activities 31 541,868,261.76 635,815,505.31

Cash flow s from Investing Activities

Cash Inflow s
Proceeds from Sale of Investment Property - -
Proceeds from Sale/Disposal of PPE - -
Proceeds from Sale of Non-current Investments - -
See accompanying
Collection of Principal
Notes toon
Financial
loans toStatements
other entities - -
Total Cash Inflows - -
Cash Outflow s
Purchase/Construction of Inv estment Property 9 17,897,024.82
Purchase/Construction of PPE 9 300,089,397.10 250,885,315.75
Purchase of Bearer Biological Assets
Purchase of Intangible Assets 9 124,500.00
Grant of Loans
Total Cash Outflows 300,089,397.10 268,906,840.57
Net Cash flow s from Investing Activities (300,089,397.10) (268,906,840.57)

Cash Flow s from Financing Activities

Cash Inflow s
Increase in Deferred Credits
Proceeds from Issuance of Bonds
Proceeds from Loans
Total Cash Inflows - -
Cash Outflow s
Payment of Long-Term Liabilities - -
Retirement/Redemption of debt securities - -
Payment of Loan Amortization - -
Total Cash Outflows - -
Net Cash Flow s from Financing Activities - -
Total Cash Provided by Operating, Investing,and Financing Activities 241,778,864.66 366,908,664.74
Add: Cash at the Beginning of the year 4 1,911,275,522.91 1,544,366,858.17
Cash Balance 4 2,153,054,387.57 1,911,275,522.91

See accompanying Notes to Financial Statements

6
 ORMOC CITY
COMBINED
Comparative Statements of Changes in Net Assets / Equity
For the Years Ended December 31, 2018 and 2017

Accumulated Accumulated
Note Surplus / (Deficit) Surplus / (Deficit)
2018 2017

Balance at January 1 5,301,690,532.52 4,967,487,198.71

Add/(Deduct):
Change in Accounting Policy - -
Direct Chanes (3,031,474.64) 3,729,609.30
Prior Period Adjustment (16,572,542.71) (2,370,468.02)

Restated Balance 5,282,086,515.17 4,968,846,339.99

Transfers of donated assets to/from Trust Fund and

Other National Government Agencies recognized
Directly in net assets / equity 8,970,287.20 63,788,582.22

Surplus (Deficit) for the period 5,291,056,802.37 5,032,634,922.21

Recognized revenue and expense for the period 221,375,046.23 269,055,610.31

Balance at December 31 5,512,431,848.60 5,301,690,532.52

See accompanying Notes to Financial Statements

7
CITY GOVERNMENT OF ORMOC
Combined Statement of Comparison of Budget and Actual Amounts
For the Year Ended December 31, 2018

Original Budget Final Budget Difference Actual Amount Difference

Original and Final Budget and
Particulars Final Budget Actual

Revenue
A.  Local Sources
1.  Tax Revenue
a.  Tax Revenue - Property 106,700,000.00 106,700,000.00 - 118,981,249.93 (12,281,249.93)
b.  Tax Revenue - Goods and Services - - - - -
c.  Other Local Taxes 104,950,000.00 104,950,000.00 - 120,472,360.52 (15,522,360.52)
Total Tax Revenue 211,650,000.00 211,650,000.00 - 239,453,610.45 (27,803,610.45)
2.  Non-Tax Revenue
a.  Service Income 11,900,000.00 11,900,000.00 - 31,679,757.49 (19,779,757.49)
b.  Business Income 93,015,000.00 93,015,000.00 - 107,906,930.48 (14,891,930.48)
c.  Other Income and Receipts 33,375,000.00 33,375,000.00 - 14,848,686.74 18,526,313.26
Total Non-Tax Revenue 138,290,000.00 138,290,000.00 - 154,435,374.71 (16,145,374.71)
B. External Sources
1.  Share from the National Internal Revenue Taxes (IRA) 986,998,786.00 986,998,786.00 - 986,998,786.00 -
2.  Share from GOCCs 2,500,000.00 2,500,000.00 - 2,207,058.05 292,941.95
3.  Other Shares from National Tax Collections 10,000,000.00 10,000,000.00 - 11,839,421.09 (1,839,421.09)
a.  Share from Ecozone - - - - -
b. Share from EVAT - - - 3,302,026.37 (3,302,026.37)
c.  Share from National Wealth 10,000,000.00 10,000,000.00 - 8,537,394.72 1,462,605.28
d. Share from Tobacco Excise Tax - - - - -
4.  Other Receipts - - - 12,205,307.25 (12,205,307.25)
a.  Grants and Donations - - - 12,205,307.25 (12,205,307.25)
b.  Other Subsidy Income - - - - -
c.  Proceeds from Insurance - - - -
5.  Inter-local Transfer - 401,852,159.67 (401,852,159.67) - 401,852,159.67
6.  Capital /Investment Receipts - - - - -
a.  Sale of Capital Assets - - - - -
b.  Sale of Investments - - - - -
c. Proceeds from Collections of Loan Receivables - - - - -
C. Receipts from Borrowings - - - - -
Total Revenue and Receipts 1,349,438,786.00 1,751,290,945.67 (401,852,159.67) 1,407,139,557.55 344,151,388.12
Expenditures
Current Appropriations
General Public Services
Personal Services 246,696,912.80 288,955,284.04 (42,258,371.24) 252,296,391.71 36,658,892.33
Maintenance and Other Operating Expenses 324,661,932.88 361,929,224.58 (37,267,291.70) 285,306,350.75 76,622,873.83
Capital Outlay 25,369,000.00 88,962,936.00 (63,593,936.00) 34,994,489.98 53,968,446.02
Education
Personal Services - - - - -
Maintenance and Other Operating Expenses 12,450,000.00 27,984,646.78 (15,534,646.78) 17,462,000.45 10,522,646.33
Capital Outlay 16,065,000.00 69,365,000.00 (53,300,000.00) 26,871,947.88 42,493,052.12
Health, Nutrition and Population Control
Personal Services 72,564,980.08 65,528,784.82 7,036,195.26 48,576,053.73 16,952,731.09
Maintenance and Other Operating Expenses 57,483,968.00 51,183,968.00 6,300,000.00 36,117,544.99 15,066,423.01
Capital Outlay 1,400,000.00 1,400,000.00 - 1,400,000.00
Labor and Employment
Personal Services - - - - -
Maintenance and Other Operating Expenses - - - - -
Capital Outlay - - - - -
Housing and Community Development
Personal Services - - - - -
Maintenance and Other Operating Expenses - - - - -
Capital Outlay 200,563,607.20 221,037,326.84 (20,473,719.64) 136,356,642.15 84,680,684.69
Social Services and Social Welfare
Personal Services 22,132,667.96 20,085,289.62 2,047,378.34 15,309,619.15 4,775,670.47
Maintenance and Other Operating Expenses 88,923,195.00 87,193,195.00 1,730,000.00 68,585,543.12 18,607,651.88
Capital Outlay 2,200,000.00 2,200,000.00 - 569,015.50 1,630,984.50
Economic Services
Personal Services 72,896,539.16 69,075,181.15 3,821,358.01 51,659,835.16 17,415,345.99
Maintenance and Other Operating Expenses 112,385,968.00 125,449,612.81 (13,063,644.81) 103,809,765.35 21,639,847.46
Capital Outlay 20,609,150.00 197,904,631.11 (177,295,481.11) 62,307,974.98 135,596,656.13

8
 Other Purposes:
Debt Service
Financial Expense - - - - -
Amortization - - - - -
LDRRMF
Maintenance and Other Operating Expenses - -
Capital Outlay - -
20% Development Fund
Maintenance and Other Operating Expenses - - - - -
Capital Outlay - - - - -
Share from National Wealth
Maintenance and Other Operating Expenses - - - - -
Capital Outlay - - - - -
Allocation for Senior Citizens and PWD
Maintenance and Other Operating Expenses - - - - -
Capital Outlay - - - - -
Others
Personal Services - - - - -
Maintenance and Other Operating Expenses 32,854,882.41 32,854,882.41 - 32,760,594.79 94,287.62
Capital Outlay 30,180,982.51 30,180,982.51 - 14,318,026.25 15,862,956.26
Total Current Appropriations 1,339,438,786.00 1,741,290,945.67 (401,852,159.67) 1,187,301,795.94 553,989,149.73
Continuing Appropriations
General Public Services
Capital Outlay - 63,873,526.44 (63,873,526.44) 30,890,568.47 32,982,957.97
Education
Capital Outlay - 16,858,185.30 (16,858,185.30) 11,431,802.80 5,426,382.50
Health, Nutrition and Population Control
Capital Outlay - 9,852,635.00 (9,852,635.00) 625,000.00 9,227,635.00
Labor and Employment
Capital Outlay - - - -
Housing and Community Development
Capital Outlay - 108,741,118.77 (108,741,118.77) 58,236,332.95 50,504,785.82
Social Services and Social Welfare
Capital Outlay - 6,364,981.57 (6,364,981.57) 3,999,837.50 2,365,144.07
Economic Services
Capital Outlay - 102,027,505.29 (102,027,505.29) 63,588,100.95 38,439,404.34
Other Purposes:
Capital Outlay - 20,319,980.00 (20,319,980.00) 6,160,440.76 14,159,539.24
Total Continuing Appropriations - 328,037,932.37 (328,037,932.37) 174,932,083.43 153,105,848.94
Total Appropriations 1,339,438,786.00 2,069,328,878.04 (729,890,092.04) 1,362,233,879.37 707,094,998.67