FIRST FUNDAMENTAL BAPTIST CHURCH BAGO CITY, INC.

General Luna St., Bago City, Negros Occidental

BALANCE SHEET
As of December 31, 2020 and 2019

NOTES 2020 2019

ASSETS

Current Assets
Cash on Hand and in Bank 5P 469,368.07 P 354,194.46
Cash Advances - -
Prepaid Supplies
Total Current Assets P 469,368.07 P 354,194.46

Non Current Assets

Property and Equipment-Net 8P 3,753,157.33 4,117,201.95

TOTAL ASSETS 4,222,525.40 4,471,396.41

LIABILITIES AND FUND BALANCE

Accounts Payable P - P -

FUND BALANCE

Gratuity Fund Payable P 337,464.33 P 337,464.33

Mission Fund Payable 72,779.00 72,779.00
Other Funds 449,126.47 7,200.00

General Fund
Beginning Balance P 4,053,953.08 P 4,159,984.13
Addition/Usage -673,717.67 0.00
Add: Excess of Receipts over Expenditures (17,079.81) -₱106,031.05
Ending Balance 3,363,155.60 4,053,953.08

TOTAL FUND BALANCE 4,222,525.40 4,471,396.41

- -
 FIRST FUNDAMENTAL BAPTIST CHURCH BAGO CITY, INC.
General Luna St., Bago City, Negros Occidental

STATEMENTS OF SOURCES AND USES OF FUNDS

For the Year Ended December 2020 and 2019

NOTES 2020 2019

RECEIPTS 6 1,643,731.52 1,737,910.30

EXPENDITURES 7 1,660,811.33 1,843,941.35

EXCESS OF RECEIPTS OVER EXPENDITURES -₱17,079.81 -₱106,031.05

 FIRST FUNDAMENTAL BAPTIST CHURCH BAGO CITY, INC.
General Luna St., Bago City, Negros Occidental

STATEMENTS OF CHANGES IN FUND BALANCES

For the Year Ended December 31, 2020 and 2019

2020 2019

FUND BALANCE, JANUARY 1 4,053,953.08 4,159,984.13

EXCESS OF RECEIPTS OVER EXPENDITURES (17,079.81) (106,031.05)

Adjustments -₱673,717.67

FUND BALANCE, DECEMBER 31 3,363,155.60 4,053,953.08

-
 FIRST FUNDAMENTAL BAPTIST CHURCH BAGO CITY, INC.
General Luna St., Bago City, Negros Occidental

STATEMENT OF CASH FLOW STATEMENT

For the Year Ended December 31, 2020 and 2019

NOTES 2020 2019

Cash Flow From Operating Activities

Cash Provided by Operation:
Excess of Cash Receipts over Expenditures !(17,079.81!) !(106,031.05!)
Depreciation/Amortization 364,044.62 374,434.54
(Increase)in Cash Advances - 7,000.00

Net Cash From Operating Activities 346,964.81 275,403.49

Cash Flow From Investing Activities

Addition to Land - -
Addition to Building - !(288,301.00!)
Purchases of Office Equipments - !(20,600.00!)
Net Cash From Investing Activities - !(308,901.00!)

Cash Flow From Financing Activities

(Increase) in Gratuity Fund - 124,546.00
(Increase) in Mission Fund - 72,779.00
(Increase) in Other Fund 441,926.47 7,200.00
Net Cash From Financing Activities -231,791.20 204,525.00
Net Increase (Decrease) in Cash 115,173.61 171,027.49
Cash Balance, Beginning 354,194.46 183,166.97
Cash Balance, Ending 469,368.07 354,194.46
-
Note 5 CASH
This account consists of :
2020 2019
Cash on Hand and in Bank P 469,368.07 P 354,194.46
TOTAL CASH P 469,368.07 P 354,194.46

Note 6 RECEIPTS
This receipts of the church are as follows:
2020 2019

Sunday School Offerings 21,476.75 34,109.95

Tithes 1,204,790.00 1,163,108.50
Worship Offerings 364,865.50 447,652.35
Benevolence 34,742.30 40,949.25
Anniversary Offerings/Christmas - 15,656.00
Birthday Gift to Jesus 17,515.00 21,495.25
Other Income - Bank Interest 341.97 14,939.00
TOTAL RECEIPTS 1,643,731.52 1,737,910.30

Note 7 EXPENDITURES
The Accounts consist of the following:
2020 2019

Anniversary Expense 650.25 40,616.25

Annual Officers Meeting - 15,461.00
Appreciation & Recognition 11,200.00 10,040.50
Benevolence 48,585.00 60,670.00
Bible School and outreach support 5,000.00
Bible Student 55,785.00
Bennial Conference 6,000.00
Ceneco Bill 51,960.32
Christian Education 3,023.40 6,104.25
Christmas Thanksgiving 16,248.14 46,436.62
Church Equipment 7,500.00
Depreciation Expense 364,044.62 374,435.29
Evangelism 47,150.00 77,941.00
Gratuity Fund 82,170.98 86,148.57
Light & water - 91,883.33
Lovegift Speaker 28,900.00 61,300.00
Medical Allowances-Ptr Lian 58,360.22
Miscellaneous 27,279.40 61,701.09
Music 5,870.00 2,099.95
Officers Meeting 11,959.00
Organizational Support 6,000.00 16,000.00
Other Benefits 67,000.00 73,000.00
Pagibig Fund 3,600.00
Pastor & Worker (Institute/Prayer) 1,000.00
Permit and Licenses - 52,800.00
Philhealth 9,360.00
Salaries and Allowances 684,000.00 672,000.00
Seminars and Workshop 18,400.00
SSS/Philhealth/Pag ibig Contributions 38,040.00 44,503.50
 Taxes and licenses/fees 5,600.00 -
VBS Materials 4,525.00 20,100.00
VFFBC Pledge 10,000.00 5,000.00
Youth Camp 7,300.00
TOTAL EXPENDITURES 1,660,811.33 1,843,941.35
-
Note 8
This account consists of the following: :
2020 2019

Land 1,205,000.00 1,205,000.00

Building 4,096,755.90 4,096,755.90
Service Vehicle 50,000.00 50,000.00
portable Grand DGX 50S YAMAHA 45,000.00 45,000.00
IT Equipment 44,000.00 44,000.00
Projector 2017 (5) 52,200.00 52,200.00
Electric Fan 4,800.00 4,800.00
Furniture and fixtures 8,700.00 8,700.00
Cabinets 16,000.00 16,000.00
Industrial Fan 2017 31,000.00 31,000.00
Printer 2017 7,595.00 7,595.00
Printer 2016 4,280.00 4,280.00
TOTAL P 5,565,330.90 P 5,565,330.90 -
Less : Accumulated Depreciation (1,812,173.57) (1,448,128.95)

TOTAL P 3,753,157.33 P 4,117,201.95

- -
FIRST FUNDAMENTAL BAPTIST CHURCH
WORKSHEET
December 31, 2017

Begginning Balances Transactions

Account Titles Debit Credit Debit

Cash on Hand and in Bank 354,194.46 346,964.81

Cash Advances -
Prepaid Supplies
Accounts Receivable
Property and Equipment 5,565,330.90
Accumulated Depreciation Expense 1,448,128.95
Accounts Payable -
Restricted Fund/Time Deposit 337,464.33
Mission Fund Payable 72,779.00
Other Funds 7,200.00
General Fund 4,053,953.08
SSS Premium Payable -
Philhealth Premium Payable -
Pag-ibig Loan Payable -
Pag-ibig Premium Payable -
Sunday School Offering -
Tithes -
Worship Offerings -
Benevolence -
Anniversary Offering/Christmas -
Birthday Gift to Jesus
Other Income / Bank Interest -
Anniversary Expenses - 650.25
Annual Officers Meeting -
Appreciation & Recognition 11,200.00
Benevolence - 48,585.00
Beinnial Conference 6,000.00
Bible School and outreach support 5,000.00
Bible Student - 55,785.00
Christian Education - 3,023.40
Ceneco Bill - 51,960.32
Christmas Thanksgiving - 16,248.14
Church Equipment - 7,500.00
Depreciation Expense 364,044.62
Evangelism - 47,150.00
Emergency Support -
Gratuity Fund - 82,170.98
Keswick -
Laymen Advance/Fellowship -
Light & water
Lovegift Speaker - 28,900.00
Medical Allowance - Pastors 58,360.22
Miscellaneous - 27,279.40
Music - 5,870.00
Officers Meeting 11,959.00
Organizational Support 6,000.00
Other Benefits - 67,000.00
Pagibig Fund 3,600.00
Pastor & Worker (Institute/Prayer) - 1,000.00
Permit and Licenses -
Philhealth - 9,360.00
Provincial Thanksgiving
Salaries and allowances - 684,000.00
Seminars, Workshop & Conferences
SSS/EC/prem/PHIC - 38,040.00
Student Center -
Taxes and licenses/fees 5,600.00
Transporation Expense -
VBS Materials - 4,525.00
Water Bill -
VFFBC Pledge 10,000.00
Youth Camp -
-
5,919,525.36 5,919,525.36 2,007,776.14
- -
Transactions Unadjusted Balances Adjustments
Credit Debit Credit Debit Credit

701,159.27 231,791.20
-
-
-
5,565,330.90
364,044.62 1,812,173.57
-
337,464.33
72,779.00
7,200.00 441,926.47
4,053,953.08 673,717.67
-
-
-
-
21,476.75 21,476.75
1,204,790.00 1,204,790.00
364,865.50 364,865.50
34,742.30 34,742.30
-
17,515.00 17,515.00
341.97 341.97
650.25
-
11,200.00
48,585.00
6,000.00
5,000.00
55,785.00
3,023.40
51,960.32
16,248.14
7,500.00
364,044.62
47,150.00
-
82,170.98
-
-
-
28,900.00
58,360.22
27,279.40
5,870.00
11,959.00
 6,000.00
67,000.00
3,600.00
1,000.00
-
9,360.00
-
684,000.00
-
38,040.00
-
5,600.00
-
4,525.00
-
10,000.00
-
-
2,007,776.14 7,927,301.50 7,927,301.50 673,717.67 673,717.67
- -
 Adjusted Balances
Debit Credit

469,368.07 469368.07 -
-
-
-
5,565,330.90
1,812,173.57 3,753,157.33
-
337,464.33 0
72,779.00
449,126.47 449126.47 -
3,380,235.41 673,717.67
-
-
-
-
21,476.75
1,204,790.00
364,865.50
34,742.30
-
17,515.00
341.97
650.25
-
11,200.00
48,585.00
6,000.00
5,000.00
55,785.00
3,023.40
51,960.32
16,248.14
7,500.00
364,044.62
47,150.00
-
82,170.98
-
-
-
28,900.00
58,360.22
27,279.40
5,870.00
11,959.00
 6,000.00
67,000.00
3,600.00
1,000.00
-
9,360.00
-
684,000.00
-
38,040.00
-
5,600.00
-
4,525.00
-
10,000.00
-
-
7,695,510.30 7,695,510.30
-
-
Supplies and Photocopies Transportation Allowances Office Equipment Gifts and Benevolence
48.00 100.00 4,745.00 3,000.00
775.00 100.00 2,000.00
48.00 150.00
80.00 300.00
78.00 100.00
18.00 100.00
51.00 100.00
21.00 1,058.00
24.00
48.00
784.00
600.00
15.00
6,650.00
240.00
40.00
11.00
45.00
45.00
200.00
48.00
40.50
31.90
27.00
27.00
330.00
146.05
43.00
33.00
792.00
18.00
155.00
41.00
500.00
100.00
47.00
764.00
181.50
44.95
200.00
27.00
255.85
 21.00
25.00
122.00

13,841.75 - - 2,008.00 - - 6,745.00 - - 3,000.00

35,372.75
9,000.00
44,372.75
Gifts and Benevolence Taxes, Fees and Licences Repairs and Maintenance
300.00 120.00
200.00 1,495.00
1,000.00 1,414.00
500.00 854.00
500.00 1,410.00
450.00
1,535.00
- - 4,485.00 - - 5,293.00 - - -
- - - - - - -