Municipality of Cuyo, Palawan

Consolidated Statement of Financial Position

As at December 31, 2021
( With Comparative Figures for CY 2020)

ASSETS Notes 2021 2020

Current Assets
Cash and Cash Equivalents 4 ₱ 133,951,276.41 ₱ 102,008,230.01
Receivables 5 27,744,244.26 62,144,177.89
Inventories 6 193,769.25 118,179.25
Total Current Assets 161,889,289.92 164,270,587.15

Non-Current Assets
Receivables 5 3,796,041.07 3,902,990.31
Property, Plant and Equipment 7 152,700,643.73 123,573,063.24
Biological Assets 8 29,450.00 29,450.00
Intangible Assets 9 160,000.00 65,000.00
Total Non-Current Assets 156,686,134.80 127,570,503.55

TOTAL ASSETS ₱ 318,575,424.72 ₱ 291,841,090.70

LIABILITIES
Current Liabilities
Financial Liabilities 10 22,662,940.82 5,939,543.83
Inter-Agency Payables 11 32,837,284.32 39,486,730.52
Intra-Agency Payables 12 12,597,404.66 39,079,943.56
Other Payables 13 3,726,557.12 3,004,110.43
Total Current Liabilities 71,824,186.92 87,510,328.34

Non-Current Liabilities
Trust Liabilities 14 2,062,685.95 8,225,461.95
Deferred Credits/ Unearned Income 15 32,943,544.99 26,947,843.19
Total Non-Current Liabilities 35,006,230.94 35,173,305.14

TOTAL LIABILITIES 106,830,417.86 122,683,633.48

NET ASSETS/ EQUITY

Government Equity 211,745,006.86 169,157,457.22

TOTAL LIABILITIES AND NET ASSETS/EQUITY ₱ 318,575,424.72 ₱ 291,841,090.70

(See accompanying Notes to Financial Statements)

 Municipality of Cuyo, Palawan
Consolidated Statement of Financial Performance
For the Year Ended December 31, 2021
( With Comparative Figures for CY 2020)

Notes 2021 2020

Revenue
Tax Revenues 16 ₱ 18,579,985.60 ₱ 22,930,725.60
Share from National Taxes 17 100,997,351.00 95,304,495.56
Service and Business Income 18 6,304,338.32 5,672,261.33
Shares, Grants and Other Donation 19 0.00 1,049.00
Other Income 20 83,789.28 523,575.60
Total Revenue 125,965,464.20 124,432,107.09

Less: Current Operating Expenses

Personal Services 21 52,095,778.72 50,294,730.68
Maintenance and Other Operating Expenses 22 37,897,479.58 41,530,498.96
Financial Expenses 23 0.00 510.00
Non-cash Expenses 24 7,085,364.79 5,518,371.93
Current Operating Expenses 97,078,623.09 97,344,111.57

Surplus ( Deficit) from Current Operation 28,886,841.11 27,087,995.52

Add (Deduct):
Transfers, Assistance and Subsidy To 25 (6,626,358.26) (5,574,625.27)
Surplus ( Deficit) for the period ₱ 22,260,482.85 ₱ 21,513,370.25

(See accompanying Notes to Financial Statements)

 Municipality of Cuyo, Palawan
Consolidated Statement of Changes in Net Assets/Equity
For the Year Ended December 31, 2021
(With Comparative Figures for CY 2020)

2021 2020

Balance at January 1 ₱ 169,157,457.22 ₱ 133,646,934.29

Add (Deduct)
Prior Period Errors 8,440,295.17 2,482.10
Restated Balance 177,597,752.39 133,649,416.39
Add ( Deduct) Changes in net assets/equity during the year
Adjustment of net revenue recognized directly in net assets/equity 11,886,771.62 13,994,670.58
Surplus (Deficit) for the period 22,260,482.85 21,513,370.25
Total recognized revenue and expenses for the period 34,147,254.47 35,508,040.83
Balance at December 31 ₱ 211,745,006.86 ₱ 169,157,457.22
 Municipality of Cuyo, Palawan
Consolidated Statement of Cash Flows
For the Year Ended December 31, 2021
(With Comparative Figures for CY 2020)

2021 2020
Cash Flows from Operating Activities
Cash Inflows
Collection from Taxpayers ₱ 29,590,351.74 ₱ 18,155,714.46
Share from Internal Revenue Allotment 100,681,077.00 94,254,053.00
Receipts from Business/Service Income 5,802,210.32 6,272,957.08
Other Receipts 71,907,872.00 67,617,057.77
Total Cash Inflows 207,981,511.06 186,299,782.31
Cash Outflows
Payment of Expenses 65,268,670.02 70,851,591.70
Payment to Suppliers and Creditors 8,226,834.49 8,960,958.29
Payments to Employees 2,026,154.85 36,303,352.18
Other Payments 82,416,316.44 34,284,270.10
Total Cash Outflows 157,937,975.80 150,400,172.27
Net Cash Flows from Operating Activities 50,043,535.26 35,899,610.04

Cash Flows from Investing Activities

Cash Inflows 0.00 0.00
Cash Outflows
Purchase/Construction of Property, Plant and Equipment 31,524,848.25 51,502,150.96
Total Cash Outflows 31,524,848.25 51,502,150.96
Net Cash Flows from Investing Activities (31,524,848.25) (51,502,150.96)

Cash Flows from Financing Activities

Cash Inflows
Proceeds from Loans 13,424,359.39 0.00
Total Cash Inflows 13,424,359.39 0.00
Cash Outflows 0.00 0.00
Net Cash Flows from Financing Activities 13,424,359.39 0.00

Net Increase in Cash 31,943,046.40 (15,602,540.92)

Add: Cash at the Beginning of the Year 102,008,230.01 117,610,770.93
Cash at the End of the Year ₱ 133,951,276.41 ₱ 102,008,230.01
Municipality of Cuyo, Palawan
Statement of Comparison of Budget and Actual Amounts
For the Year Ended December 31, 2021

Budgeted Amounts Difference Difference

Actual Amounts
Particulars Original Final Original and Final Budget Final Budget and Actual
2021 2020 2021 2020 2021 2020 2021 2020 2021 2020
Revenue
A.  Local Sources
1.  Tax Revenue
a.  Tax Revenue - Property 5,530,083.00 2,923,537.00 5,530,083.00 2,923,537.00 0.00 0.00 9,396,211.42 4,004,537.72 (3,866,128.42) (1,081,000.72)
b.  Tax Revenue - Goods and Services 11,851,673.00 11,651,520.00 11,851,673.00 11,651,520.00 0.00 0.00 8,826,788.86 13,518,305.82 3,024,884.14 (1,866,785.82)
c.  Other Local Taxes 550,012.00 377,877.00 550,012.00 377,877.00 0.00 0.00 356,985.42 389,267.22 193,026.58 (11,390.22)
Total Tax Revenue 17,931,768.00 14,952,934.00 17,931,768.00 14,952,934.00 0.00 0.00 18,579,985.70 17,912,110.76 (648,217.70) (2,959,176.76)
2.  Non-Tax Revenue
a.  Service Income 2,582,106.00 4,166,012.00 2,582,106.00 4,166,012.00 0.00 0.00 5,002,000.82 4,341,074.28 (2,419,894.82) (175,062.28)
b.  Business Income 1,537,088.00 2,402,233.00 1,537,088.00 2,402,233.00 0.00 0.00 1,302,337.50 1,331,187.05 234,750.50 1,071,045.95
c.  Other Income and Receipts 738,292.00 250,209.00 738,292.00 250,209.00 0.00 0.00 83,789.28 523,575.60 654,502.72 (273,366.60)
Total Non-Tax Revenue 4,857,486.00 6,818,454.00 4,857,486.00 6,818,454.00 0.00 0.00 6,388,127.60 6,195,836.93 (1,530,641.60) 622,617.07
B. External Sources
1.  Share from the National Internal Revenue Taxes 100,681,077.00 94,254,053.00 100,681,077.00 94,254,053.00 0.00 0.00 100,681,077.00 94,254,053.00 0.00 0.00
2.  Share from GOCCs 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
3.  Other Shares from National Tax Collections 1,830,474.00 3,180,912.00 1,830,474.00 3,180,912.00 0.00 0.00 316,274.00 1,050,442.56 1,514,200.00 2,130,469.44
a.  Share from Ecozone 1,830,474.00 3,180,912.00 1,830,474.00 3,180,912.00 0.00 0.00 316,274.00 1,050,442.56 1,514,200.00 2,130,469.44
4.  Other Receipts 0.00 0.00 0.00 0.00 0.00 0.00 0.00 7,829,323.00 0.00 (7,829,323.00)
a.  Grants and Donations 0.00 0.00 0.00 0.00 0.00 0.00 0.00 1,049.00 0.00 (1,049.00)
b.  Other Subsidy Income 0.00 0.00 0.00 0.00 0.00 0.00 0.00 7,828,274.00 0.00 (7,828,274.00)
C. Receipts from Borrowings 0.00 0.00 120,000,000.00 0.00 (120,000,000.00) 0.00 13,424,359.39 0.00 106,575,640.61 0.00
Total Revenue and Receipts 125,300,805.00 119,206,353.00 245,300,805.00 119,206,353.00 (120,000,000.00) 0.00 139,389,823.69 127,241,766.25 105,910,981.31 (8,035,413.25)
Expenditures
Current Appropriations
General Public Services
Personal Services 37,503,670.00 39,170,371.00 40,582,775.00 39,364,062.00 (3,079,105.00) (193,691.00) 36,719,287.78 35,893,937.37 3,863,487.22 3,470,124.63
Maintenance and Other Operating Expenses 29,166,258.00 28,142,503.00 31,642,862.00 37,940,107.00 (2,476,604.00) (9,797,604.00) 25,350,692.80 27,730,957.82 6,292,169.20 10,209,149.18
Capital Outlay 122,000.00 1,162,000.00 129,862,750.00 20,462,000.00 (129,740,750.00) (19,300,000.00) 14,111,846.68 14,452,879.00 115,750,903.32 6,009,121.00
Education
Personal Services 800,000.00 0.00 800,000.00 0.00 0.00 0.00 472,800.00 0.00 327,200.00 0.00
Maintenance and Other Operating Expenses 2,600,000.00 0.00 2,168,000.00 0.00 432,000.00 0.00 1,382,035.00 0.00 785,965.00 0.00
Capital Outlay 100,000.00 0.00 532,000.00 0.00 (432,000.00) 0.00 58,150.00 0.00 473,850.00 0.00
Health, Nutrition and Population Control
Personal Services 9,148,014.00 7,362,863.00 9,131,106.00 7,977,215.00 16,908.00 (614,352.00) 7,825,532.19 7,359,300.01 1,305,573.81 617,914.99
Maintenance and Other Operating Expenses 3,642,036.00 3,847,200.00 3,916,036.00 3,547,200.00 (274,000.00) 300,000.00 3,143,094.00 2,325,095.05 772,942.00 1,222,104.95
Capital Outlay 230,000.00 123,000.00 230,000.00 123,000.00 0.00 0.00 149,314.00 109,780.00 80,686.00 13,220.00
Social Services and Social Welfare
Personal Services 2,339,831.00 2,052,242.00 2,386,218.00 2,224,212.00 (46,387.00) (171,970.00) 2,224,132.42 2,105,674.03 162,085.58 118,537.97
Maintenance and Other Operating Expenses 639,185.00 739,185.00 756,585.00 664,185.00 (117,400.00) 75,000.00 577,536.14 515,174.07 179,048.86 149,010.93
Capital Outlay 0.00 10,000.00 45,000.00 10,000.00 (45,000.00) 0.00 40,500.00 10,000.00 4,500.00 0.00
Economic Services
Personal Services 3,557,196.00 3,116,809.00 3,639,908.00 3,270,466.00 (82,712.00) (153,657.00) 3,209,916.83 3,072,186.87 429,991.17 198,279.13
Maintenance and Other Operating Expenses 1,033,200.00 1,021,700.00 1,491,900.00 863,700.00 (458,700.00) 158,000.00 752,835.53 253,594.72 739,064.47 610,105.28
Capital Outlay 72,500.00 180,000.00 329,500.00 180,000.00 (257,000.00) 0.00 222,970.00 91,300.00 106,530.00 88,700.00
Other Purposes:
LDRRMF
Maintenance and Other Operating Expenses 5,190,040.00 3,457,318.00 5,250,040.00 3,482,318.00 (60,000.00) (25,000.00) 5,250,040.00 2,966,134.00 0.00 516,184.00
Capital Outlay 900,000.00 2,520,000.00 900,000.00 2,520,000.00 0.00 0.00 496,636.00 2,520,000.00 403,364.00 0.00
20% Development Fund
Maintenance and Other Operating Expenses 6,900,000.00 7,400,811.00 6,900,000.00 7,400,811.00 0.00 0.00 4,672,524.22 1,490,769.46 2,227,475.78 5,910,041.54
Capital Outlay 13,236,215.00 11,450,000.00 13,236,215.00 11,450,000.00 0.00 0.00 4,484,341.10 2,964,582.52 8,751,873.90 8,485,417.48
Allocation for Senior Citizens and PWD
Maintenance and Other Operating Expenses 1,006,810.00 942,541.00 1,006,810.00 942,541.00 0.00 0.00 996,333.70 908,432.40 10,476.30 34,108.60
Allocation for LCPC
Maintenance and Other Operating Expenses 1,006,810.00 942,541.00 1,006,810.00 942,541.00 0.00 0.00 807,077.00 587,621.00 199,733.00 354,920.00
Allocation for GAD
Maintenance and Other Operating Expenses 6,090,040.00 5,960,318.00 6,090,040.00 5,985,318.00 0.00 (25,000.00) 3,841,224.46 4,814,238.40 2,248,815.54 1,171,079.60
Others
Personal Services 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Maintenance and Other Operating Expenses 17,000.00 867,000.00 17,000.00 867,000.00 0.00 0.00 17,000.00 17,000.00 0.00 850,000.00
Capital Outlay 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Total Current Appropriations 125,300,805.00 120,468,402.00 261,921,555.00 150,216,676.00 (136,620,750.00) (29,748,274.00) 116,805,819.85 110,188,656.72 145,115,735.15 40,028,019.28
 Budgeted Amounts Difference Difference
Actual Amounts
Particulars Original Final Original and Final Budget Final Budget and Actual
2021 2020 2021 2020 2021 2020 2021 2020 2021 2020
Continuing Appropriations
General Public Services
Capital Outlay 11,387,579.00 5,267,048.44 3,816,829.00 5,267,048.44 7,570,750.00 0.00 2,281,735.44 3,337,830.22 1,535,093.56 1,929,218.22
Health, Nutrition and Population Control
Capital Outlay 123,000.00 260,909.00 123,000.00 260,909.00 0.00 0.00 35,000.00 109,780.00 88,000.00 151,129.00
Economic Services
Capital Outlay 150,000.00 65,000.00 150,000.00 65,000.00 0.00 0.00 135,000.00 61,300.00 15,000.00 3,700.00
Other Purposes:
5% MDRRMF 1,294,322.00 3,294,322.00 1,294,322.00 3,294,322.00 0.00 0.00 0.00 2,000,000.00 1,294,322.00 1,294,322.00
Capital Outlay
20% Development Fund
Maintenance and Other Operating Expenses 5,444,568.93 6,126,392.21 5,444,568.93 6,126,392.21 0.00 0.00 3,454,740.23 5,003,584.13 1,989,828.70 1,122,808.08
Capital Outlay 11,599,154.92 12,655,061.06 11,599,154.92 12,655,061.06 0.00 0.00 10,089,528.38 7,610,271.95 1,509,626.54 5,044,789.11
Total Continuing Appropriations 29,998,624.85 27,668,732.71 22,427,874.85 27,668,732.71 7,570,750.00 0.00 15,996,004.05 18,122,766.30 6,431,870.80 9,545,966.41
Total Appropriations 155,299,429.85 148,137,134.71 284,349,429.85 177,885,408.71 (129,050,000.00) (29,748,274.00) 132,801,823.90 128,311,423.02 151,547,605.95 49,573,985.69
Surplus (Deficit) for the period (29,998,624.85) (28,930,781.71) (39,048,624.85) (58,679,055.71) 9,050,000.00 29,748,274.00 6,587,999.79 (1,069,656.77) (45,636,624.64) (57,609,398.94)