CITY OF MALABON

STATEMENT FINANCIAL POSITION

As at December 31, 2018
(With Corresponding Figures for CY 2017)

Note 2018 2017

ASSETS
Current Assets
Cash and Cash Equivalents 4 702,968,602 932,242,412
Investments 5 558,853,109 1,497,215
Receivables 6 121,179,030 298,753,484
Inventories 7 27,889,774 11,493,108
Prepayments and Deferred Charges 8 49,946,031 24,132,851
Total Current Assets 1,460,836,546 1,268,119,070

Non-Current Assets
Property, Plant and Equipment 9 1,582,919,040 1,616,475,656
Computer Software 10 10,950,000 6,297,500
Total Non-Current Assets 1,593,869,040 1,622,773,156

TOTAL ASSETS 3,054,705,586 2,890,892,226

###
LIABILITIES 11 ###
Current Liabilities ###
Financial Liabilities 226,696,236 193,684,658
Inter-Agency Payables 206,508,705 276,380,828
Intra-Agency payables - 258,020
Trust Liabilities 58,065,143 118,114,641
Deferred Credits/Unearned Income 314,180,424 349,991,059
Other Payables 37,759,604 -
Total Current Liabilities 843,210,112 938,429,206
###
Non-Current Liabilities ###
Financial Liabilities 42,982,157 48,229,909
Other Payables 4,149,454 11,239,357
Total Non-Current Liabilities 47,131,611 59,469,266
###
TOTAL LIABILITIES 890,341,722 997,898,472
###
NET ASSETS/EQUITY ###
Government Equity 2,164,363,864 1,892,993,754
###
TOTAL LIABILITIES AND NET ASSETS/EQUITY 3,054,705,586 2,890,892,226
See accompanying Notes to Financial Statements ###

5
 CITY OF MALABON
STATEMENT OF FINANCIAL PERFORMANCE
For the Year Ended December 31, 2018
(With Corresponding Figures for CY 2017)

Note 2018 2017

REVENUE
Tax Revenue 12 662,678,208 605,834,796
Share from Internal Revenue Collections 12 762,824,864 710,939,060
Other Share from National Taxes 12 3,026,730 -
Service and Business Income 13 253,453,171 188,971,679
Shares, Grants and Donations 14 3,549,634 3,112,403
Other Income 15 1,155,848 392,877
TOTAL REVENUE 1,686,688,455 1,509,250,815

LESS: CURRENT OPERATING EXPENSES

Personnel Services 16 425,847,596 393,751,816
Maintenance and Other Operating Expenses 17, 18, 19, 20 & 21 780,515,818 580,514,498
Non-Cash Expenses 22 170,970,176 119,420,474
Financial Expenses 23 3,387,373 5,683,473
CURRENT OPERATING EXPENSES 1,380,720,963 1,099,370,261

SURPLUS (DEFICIT) FROM

CURRENT OPERATION 305,967,493 409,880,554
Add (Deduct):
Transfer, Assistance and Subsidy From 24 19,070,622 16,363,904
Transfer, Assistance and Subsidy To 25 (64,044,153) (50,228,482)
SURPLUS (DEFICIT) FOR THE PERIOD 260,993,962 376,015,976
See accompanying Notes to Financial Statements

6
 CITY OF MALABON
STATEMENT OF CHANGES IN NET ASSETS/EQUITY
For the Year Ended December 31, 2018
(With Corresponding Figures for CY 2017)

2018 2017

Balance at January 1, 2018 1,892,993,754 1,451,340,354

Add (Deduct) :
Prior Year Adjustments (36,574,230) (32,251,182)
Transfer of Building and Equipment Account
from Trust Fund 9,200,186 59,239,417
Adjustment recognized direct in net assets/equity 37,751,941 38,770,606
Restated Balance 1,903,371,651 1,517,099,195

Add (Deduct) Changes in Net Assets /

Equity during the year:
Adjustment of net prior years' withheld taxes (1,750) (121,417)
Surplus (Deficit) for the period 260,993,962 376,015,976
Total changes during the year 260,992,212 375,894,559

Balance at December 31, 2018 2,164,363,863 1,892,993,754

See accompanying Notes to Financial Statements

7
 CITY OF MALABON
STATEMENT OF CASH FLOWS
For the Year Ended December 31, 2018
(With Corresponding Figures for CY 2017)

2018 2017
Cash Flows from Operating Activities
Cash Inflows
Collection from Taxpayers 581,712,360 605,831,689
Share from Internal Revenue Allotment 738,990,864 710,939,060
Receipts from Business/Service Income 252,848,218 186,353,030
Interest Income 872,293 1,359,372
Other Receipts 401,122,232 361,776,163
Total Cash Inflows 1,975,545,967 1,866,259,314
Cash Outflows
Payment to Suppliers and Creditors 792,855,497 709,586,997
Payment to Employees 272,229,948 235,326,224
Interest Expense 3,340,165 5,631,564
Other Expenses 272,101,831 238,819,729
Total Cash Outflows 1,340,527,441 1,189,364,514
Net Cash Flows from Operating Activities 635,018,526 676,894,800

Cash Flows from Investing Activities

Cash Outflows
Purchase/Construction of Property, Plant and Equipment 252,081,700 225,326,787
Investment 580,000,000 -
Purchase of Intangible Assets 3,855,468 3,257,813
Total Cash Outflows 835,937,168 228,584,600
Net Cash Flows from Investing Activities (835,937,167.95) (228,584,599.69)

Cash Flows from Financing Activities

Cash Inflows
Proceeds from Loans 4,420,872 51,686,270
Total Cash Inflows 4,420,872 51,686,270
Cash Outflows
Payment of Loan Amortization 32,776,040 63,693,968
Total Cash Outflows 32,776,040 63,693,968
Net Cash Flows from Financing Activities (28,355,168.13) (12,007,698)

Total Cash Provided by Operating, Investing

and Financing Activities (229,273,809.77) 436,302,502
Add: Cash at the Beginning of the year 932,242,412 495,939,910
Cash Balance at the End of the year 702,968,603 932,242,412
See accompanying Notes to Financial Statements

8
 CITY OF MALABON
STATEMENT OF COMPARISON OF BUDGET AND ACTUAL AMOUNTS
For the Year Ended December 31, 2018
(With Corresponding Figures for CY 2017)

Budgeted Amounts Difference Difference

Actual Amounts
Particulars Original Final Original and Final Budget Final Budget and Actual
2018 2017 2018 2017 2018 2017 2018 2017 2018
Revenue
A. Local Sources
1. Tax Revenue
a. Tax Revenue - Property 395,800,000 186,305,201 395,800,000 186,305,201 - - 309,309,062 293,962,804 (86,490,938)
b. Tax Revenue - Goods and Services 290,923,000 203,404,000 290,923,000 203,404,000 - - 323,346,609 282,404,758 32,423,609
c. Other Local Taxes 25,726,000 33,082,000 25,726,000 33,082,000 - - 30,022,537 29,467,234 4,296,537
Total Tax Revenue 712,449,000 422,791,201 712,449,000 422,791,201 - - 662,678,208 605,834,796 (49,770,792)

2. Non-Tax Revenue
a. Service Income 286,098,403 39,014,400 286,098,403 39,014,400 - - 148,784,343 114,741,247 (137,314,060)
b. Business Income 13,140,000 85,331,300 13,140,000 85,331,300 - - 104,668,828 72,181,362 91,528,828
c. Other Income and Receipts 1,393,000 77,403,000 1,393,000 77,403,000 - - 1,155,848 706,937 (237,152)
Total Non-Tax Revenue 300,631,403 201,748,700 300,631,403 201,748,700 - - 254,609,019 187,629,546 (46,022,384)

B. External Sources
1. Shares from National Internal Revenue Taxes (IRA) 762,824,864 742,705,799 762,824,864 742,705,799 - - 762,824,864 710,939,060 -
2. Other Shares from National Tax Collections
a. Share from EVAT - - - - - - 3,026,730 - 3,026,730
b. Share from PCSO 2,200,000 2,200,000 2,200,000 2,200,000 - - 3,544,963 3,094,594 1,344,963
3. Other Receipts -
a. Grants and Donations - - - - 4,671 17,808 4,671
b. Inter- Local Transfers 19,070,622 - 19,070,622 - - - 19,070,622 - -
Total Revenue and Receipts 1,797,175,888 1,369,445,700 1,797,175,888 1,369,445,700 - - 1,705,759,077 1,507,515,804 (91,416,812)

I. Current Appropriations

General Public Services

Personal Services 336,971,300 286,149,437 338,091,304 287,888,156 1,120,004 1,738,719 205,837,473 190,564,121 132,253,832
Maintenance and Other Operating Expenses 277,075,874 227,895,214 330,812,619 254,980,222 53,736,745 27,085,008 379,520,992 201,196,988 (48,708,373)
Capital Outlay 12,062,058 27,209,227 14,918,435 32,803,828 2,856,377 5,594,601 9,988,315 - 4,930,120

Education
Personal Services 64,478,907 51,107,617 64,729,865 51,107,617 250,959 - 46,501,528 38,289,837 18,228,337
Maintenance and Other Operating Expenses 157,479,920 125,805,831 162,225,439 148,511,768 4,745,519 22,705,936 140,544,262 129,671,950 21,681,177
Capital Outlay 7,328,800 5,870,000 101,091,294 12,919,541 93,762,494 7,049,541 45,967,130 5,971,779 55,124,164

Health, Nutrition and Population Control

Personal Services 152,977,674 142,102,073 153,393,901 142,102,073 416,227 - 113,820,017 102,304,908 39,573,885
Maintenance and Other Operating Expenses 107,649,405 63,663,904 107,649,405 78,103,344 - 14,439,440 62,847,801 49,166,671 44,801,604
Capital Outlay 9,683,629 3,400,000 9,683,629 3,400,000 - - 2,320,246 3,560,830 7,363,383

Social Services
Personal Services 36,236,913 26,938,541 36,366,793 27,308,426 129,880 369,884 25,520,504 21,273,118 10,846,289
Maintenance and Other Operating Expenses 116,537,359 77,037,301 137,967,637 80,236,588 21,430,278 3,199,287 118,114,778 49,840,934 19,852,858

9
 Budgeted Amounts Difference Difference
Actual Amounts
Particulars Original Final Original and Final Budget Final Budget and Actual
2018 2017 2018 2017 2018 2017 2018 2017 2018
Capital Outlay 1,352,500 833,716 4,557,177 5,275,266 3,204,677 4,441,551 4,418,293 4,260,369 138,885

Economic Services
Personal Services 45,705,673 39,382,326 46,472,006 39,715,719 766,333 333,393 34,168,074 31,560,176 12,303,932
Maintenance and Other Operating Expenses 215,369,835 140,623,187 227,306,635 143,288,187 11,936,800 2,665,000 200,137,260 132,440,890 27,169,375
Capital Outlay 26,282,283 2,526,507 269,982,283 8,553,507 243,700,000 6,027,000 39,994,299 5,187,702 229,987,984

Other Purposes
Debt Service 52,164,695 - 52,164,695 - - - 32,776,040 - 19,388,655
Financial Expenses 7,861,162 11,831,076 9,561,162 11,831,076 1,700,000 - 3,387,373 5,423,743 6,173,789

LDRRMF
Maintenance and Other Operating Expenses 50,320,900 45,634,880 50,320,900 45,664,880 - 30,000 50,320,900 43,007,430 -
Capital Outlay 34,612,100 24,300,000 34,612,100 24,370,000 - 70,000 34,612,100 23,657,516 -

20% Development Fund

Capital Outlay 152,564,973 148,541,160 152,564,973 148,541,160 - - 148,677,829 145,306,472 3,887,144

Others
5% Contribution to MMDA (R.A. No. 7924) 22,000,000 22,000,000 22,000,000 22,000,000 - - 19,860,000 18,380,000 2,140,000
Aid to Barangays 1,050,000 1,050,000 1,050,000 1,050,000 - - 1,050,000 1,050,000 -

Total Current Appropriations 1,887,765,959 1,473,901,999 2,327,522,251 1,569,651,358 439,756,292 95,749,359 1,720,385,213 1,202,115,432 607,137,038

II. Continuing Appropriations

General Public Services
Maintenance and Other Operating Expenses - - - - - -
Capital Outlay 1,910,066 - 1,910,066 - - - 674,756 - 1,235,310
Education
Maintenance and Other Operating Expenses - - - - - -
Capital Outlay 11,555,130 3,828,592 11,555,130 3,828,592 - - 10,914,243 3,828,592 640,887
Health, Nutrition and Population Control
Capital Outlay 2,543,000 - 2,543,000 - - - 1,700,000 - 843,000
Social Services
Capital Outlay 6,319,707 - 6,319,707 - - - - - 6,319,707
Economic Services
Capital Outlay 3,004,165 2,204,253 3,004,165 2,204,253 - - 2,204,253 2,204,253 799,912
Other Services
20% Development Fund
Capital Outlay 3,234,688 3,060,837 3,234,688 3,060,837 - - 3,060,837 3,060,837 173,851

Total Continuing Appropriations 28,566,756 9,093,682 28,566,756 9,093,682 - - 18,554,089 9,093,682 10,012,667

Total Payments 1,916,332,715 1,482,995,681 2,356,089,007 1,578,745,040 439,756,292 95,749,359 1,738,939,302 1,211,209,114 617,149,705

10
 CITY OF MALABON
OF COMPARISON OF BUDGET AND ACTUAL AMOUNTS
For the Year Ended December 31, 2018
(With Corresponding Figures for CY 2017)

Difference
Final Budget and Actual
2017

107,657,603
79,000,758
(3,614,766)
183,043,595

75,726,847
(13,149,938)
(76,696,063)
(14,119,154)

(31,766,739)

-
894,594

17,808
-
138,070,104

97,324,035
53,783,234
32,803,828

12,817,780
18,839,818
6,947,762

39,797,165
28,936,673
(160,830)

6,035,308
30,395,654

11
 Difference
Final Budget and Actual
2017
1,014,898

8,155,543
10,847,297
3,365,805

-
6,407,333

2,657,450
712,485

3,234,688

3,620,000
-

367,535,926

-
-

-
-

367,535,926

12