ILOILO SCIENCE AND TECHNOLOGY UNIVERSITY

Notes to Consolidated Financial Statements

For the year ended December 31, 2021

1. General Information/Agency Profile

The consolidated financial statements of Iloilo Science and Technology University were
authorized for issue on February 08, 2022 as shown in the Statement of Management’s
Responsibility for Financial Statements signed by Raul F. Muyong, Ed.D., the University
President.

The mandate of Iloilo Science and Technology University is to provide advanced education,
higher technological, professional instruction and training in the arts, sciences, education,
engineering, agriculture and forestry, and other relevant fields of study. The Agency's registered
office is located in Burgos Street, Lapaz, Iloilo City.

Pursuant to Section 26 of Republic Act No. 10595 dated May 18, 2015 and based on the
observations and favorable recommendation by the CHED Task Group on SUC conversion, the
Commission en banc confirms by virtue of Resolution No. 207-2015 the substantive compliance
with CHED requirements for University status. Western Visayas College of Science Technology
was converted into a State University to be known as Iloilo Science and Technology University
(ISAT U) subject to regular monitoring by the CHED Memorandum Orders and other pertinent
issuances.

Included in the combined Financial Reports are those of ISAT U campuses in Miag-ao,
Dumangas, Barotac Nuevo and Leon, Iloilo.

2. Statement of Compliance and Basis of Preparation of Financial Statements

The consolidated financial statements have been prepared in accordance with and comply with
the International Public Sector Accounting Standards (IPSAS) issued by the Commission on
Audit per COA Resolution No. 2014-003 dated January 24, 2014.

The consolidated financial statements have been prepared on the basis of historical cost, unless
stated otherwise. The Statement of Cash Flows is prepared using the direct method.

3. Summary of Significant Accounting Policies

3.1 Basis of accounting

The consolidated financial statements are prepared on an accrual basis in accordance with the
International Public Sector Accounting Standards (IPSAS).

a. Notice of Cash Allocation (NCA) is recorded in the Regular Agency (RA) books as well as
those income/receipts which the agency is authorized to use per Republic Act No. 8292.

b. Petty Cash fund (PCF) account is maintained under the Imprest Fund System. All
replenishments are directly charged to the expense account. There are three Special
Disbursing Officers who are authorized to maintain PCF for fuel, maintenance of vehicles
and petty expenses of the University.

21
 c. The Straight-Line Method of depreciation is used in the computation of depreciation
expense with estimated useful lives from five to twenty years. A residual value, computed at
ten percent of the cost of asset is set and depreciation starts on the second month after
purchase.

d. Accounts were classified to conform to the new Chart of Accounts prescribed under the
Revised Chart of Accounts for National Government Agencies which was implemented per
COA Circular No. 2013-002 dated January 30, 2013.

e. Trust funds are separately reported in the Financial Report.

f. Adjustments for prior year’s accounts are corrected by using the Accumulated
Surplus/Deficit Account. Errors Affecting current year’s operation are charged to the current
year’s accounts.

3.2 Consolidation

The consolidated financial statements reflect the assets, liabilities, revenues, and expenses of
the reporting entity and all controlled entities.

4. Cash and Cash Equivalents

Cash and Cash Equivalents comprise cash on hand and cash in bank, deposits on call and
highly liquid investments with an original maturity of three months or less, which are readily
convertible to known amounts of cash and are subject to insignificant risk of changes in value.

Effective July 2014, the University uses two schemes for payment of accounts payable: the
Common Fund Scheme where payment is made through the issuance of MDS checks; and the
Direct Payment Scheme (DPS) via bank debit system, through issuance of List of Due and
Demandable Accounts Payable -Advice to Debit Account (LDDAP-ADA).

The University has a loan of ₱109,556,711.71 from Development Bank of the Philippines (DBP),
released on January 20, 2014, June 16, 2014 and December 29, 2014. Regular interest at 6.70
percent per annum exclusive of Gross Receipts Tax (GRT) with maturity date on January 20,
2029.

The University paid a total amount of ₱94,502,509.05 for the amortization of the loan as of
December 31, 2021.

5. Inventories

Inventory is measured at cost upon initial recognition. Inventories are recognized as an expense
when deployed for utilization or consumption in the ordinary course of operations of the Iloilo
Science and Technology University.

6. Property, Plant and Equipment

An item recognized as property, plant, and equipment is measured at cost.

22
After recognition, all property, plant and equipment are stated at cost less accumulated
depreciation and impairment losses. When significant parts of property, plant and equipment are
required to be replaced at intervals, the Iloilo Science and Technology University recognizes
such parts as individual assets with specific useful lives and depreciates them accordingly.

Ongoing infrastructure projects in Lapaz Campus are the following:

a. Rehabilitation of Civil Technology Building by Angel Gabriel Builders & Realty Corporation for
₱32,845,083.26.

b. Rehabilitation of 2nd Floor of TEB and Mendoza Building by JFJ Construction &
Supply, Inc. for ₱3,728,182.46.

c. Proposed Ground Floor Renovation of ISAT U Administration Building by Lions

Convergence Construction & Development for ₱28,250,921.58

Ongoing constructions in other campuses are the following:

Barotac Campus

a. Construction of Power House and System by Veong Construction & Supply for
₱6,327,208.94.

Dumangas Campus

a. Rehabilitation of Student Center for ₱748,627.38

Leon Campus

a. Rehabilitation & Extension of the Administration Building for ₱6,961,875.57

Completed projects in La Paz Campus are the following:

a. Waterproofing of Roof Deck of the Student Services Building

Contractor: Giantwest Construction Corporation
Status: Completed June 2, 2021
Amount: ₱509,576.25

b. Supply and Installment of 2 Units High Volume Low Speed Fans for the Multi-
Purpose Gym
Contractor: 3A’s One Marketing International Corporation
Status: Completed on March 29, 2021

Completed projects in other campuses are the following:

Miag-ao Campus

23
 a. Upgrading of Electrical Power Supply (Installation of Electric Power Generator with
Power House)
Contractor: MJ Barcelona Construction & Supply
Status: Completed as of November 29, 2021
Contract Amount: ₱5,413,009.24

b. Completion of Various Buildings – (Completion of P.E. Fitness Gym and

Completion of Improvement/Rehabilitation of Administrative Building)
Status: Completed as of August 18, 2021

c. Rehabilitation of Slope Protection System for Regional Yarn Production &

Innovation Center (RYPIC) and Improvement of Building L as RYPIC Office
Status: Completed as of April 06, 2021

Leon Campus

a. Rehabilitation of Existing Homemaking Building

Status: Completed
Contract Amount: ₱1,791,499.83

Depreciation

Each part of an item of property, plant, and equipment with a cost that is significant in relation to
the total cost of the item is depreciated separately. The depreciation charge for each period is
recognized as expense unless it is included in the cost of another asset.

Estimated Useful Life

The Iloilo Science and Technology University uses the Schedule on the Estimated Useful Life of
PPE by classification prepared by COA.

7. Intangible Assets

Intangible assets acquired separately are initially recognized at cost.

8. Budget information

The annual budget is prepared on a cash basis and is published in the government website.

The annual budget figure includes the budget for its external campuses. These budget figures
were those approved by the governing body both at the beginning and during the year.

9. Cash and Cash Equivalents

Accounts As of December 31, 2021

Cash on Hand ₱ 948,509.41

24
 Cash in Bank-Local Currency 549,031,796.98
Treasury/Agency Cash Accounts 5,252.00
Total ₱ 549,985,558.39

10. Receivables

10.1 Loans and Receivables

2021
Accounts
Current Non-Current Total
Loans and Receivable Accounts ₱ 1,359,943.00 ₱ 0.00 ₱ 1,359,943.00
Total ₱ 1,359,943.00 ₱ 0.00 ₱ 1,359,943.00

10.2 Aging/Analysis of Receivables

Past due
Not past
Accounts Total < 30 30-60
due > 60 days
days days
Accounts Receivable ₱ 0.00 ₱ 0.00 ₱ 0.00 ₱ 0.00 ₱ 0.00
Notes Receivable 0.00 0.00 0.00 0.00 0.00
Loans Receivable-
0.00 0.00 0.00 0.00 0.00
GOCCs
Loans Receivable-LGUs 0.00 0.00 0.00 0.00 0.00
Interests Receivable 0.00 0.00 0.00 0.00 0.00
Dividends Receivable 0.00 0.00 0.00 0.00 0.00
Loans Receivable-
1,359,943.00 0.00 0.00 0.00 1,359,943.00
Others
Operating Lease
0.00 0.00 0.00 0.00 0.00
Receivable
Finance Lease
0.00 0.00 0.00 0.00 0.00
Receivable
Receivables-
3,060,429.70 0.00 0.00 0.00 3,060,429.70
Disallowances/Charges
Due from Officers and
218,578.64 218,578.64 0.00 0.00 0.00
Employees
Due from Other NGAs 20,000.00 20,000.00 0.00 0.00 0.00
Due from Other Funds 388,986.75 388,986.75 0.00 0.00 0.00
Other Receivables 2,730.13 0.00 0.00 0.00 2,730.13
Total ₱5,050,668.22 ₱627,565.39 ₱ 0.00 ₱ 0.00 ₱ 4,423,102.83
10.3 Inter-Agency Receivables

2021
Accounts
Current Non-Current Total

25
 Due from National Government Agencies ₱ 20,000.00 ₱ 0.00 ₱ 20,000.00
Total ₱ 20,000.00 ₱ 0.00 ₱ 20,000.00

10.4 Intra-Agency Receivables

2021
Accounts
Current Non-Current Total
Due from Other Funds ₱ 388,986.75 ₱ 0.00 ₱ 388,986.75
Total ₱ 388,986.75 ₱ 0.00 ₱ 388,986.75

10.5 Other Receivables

2021
Accounts
Current Non-Current Total
Other Receivables ₱ 3,281,738.47 ₱ 0.00 ₱ 3,281,738.47
Total ₱ 3,281,738.47 ₱ 0.00 ₱ 3,281,738.47

11. Inventories

2021
Inventories Inventories Inventories Reversal of
Accounts carried at lower carried at fair write-down Inventory write-
of cost and net value less cost recognized down recognized
realizable value to sell during the year during the year
Inventory Held for Sale
Carrying Amount,
₱ 1,542,010.83 ₱ 0.00 ₱ 0.00 ₱ 0.00
January 01, 2021
Additions/Acquisitions
341,798.00 0.00 0.00 0.00
during the year
Expensed during the
(107,958.90) 0.00 0.00 0.00
year except write-down
Carrying Amount,
₱ 1,775,849.93 ₱ 0.00 ₱ 0.00 ₱ 0.00
December 31, 2021
Inventory Held for
Consumption
Carrying Amount,
15,901,315.69 0.00 0.00 0.00
January 01, 2021
Additions/Acquisitions
32,013,148.00 0.00 0.00 0.00
during the year
Expensed during the
(28,455,716.90) 0.00 0.00 0.00
year except write-down
Carrying Amount,
₱19,458,746.79 ₱ 0.00 ₱ 0.00 ₱ 0.00
December 31, 2021
Semi-Expendable
Machinery and
Equipment
Carrying Amount,
12,979,834.69 0.00 0.00 0.00
January 1, 2021
Additions/Acquisitions
10,848,964.99 0.00 0.00 0.00
during the year

26
 2021
Inventories Inventories Inventories Reversal of
Accounts carried at lower carried at fair write-down Inventory write-
of cost and net value less cost recognized down recognized
realizable value to sell during the year during the year
Expensed during the
(6,966,123.45) 0.00 0.00 0.00
year except write-down
Write-down during the
(13,019,660.94) 0.00 0.00 0.00
year
Carrying Amount,
₱ 3,843,015.29 ₱ 0.00 ₱ 0.00 ₱ 0.00
December 31, 2021
Semi-Expendable
Furniture, Fixtures and
Books
Carrying Amount,
24,077,743.32 0.00 0.00 0.00
January 1, 2021
Additions/Acquisitions
5,250,040.10 0.00 0.00 0.00
during the year
Expensed during the
(3,623,567.32) 0.00 0.00 0.00
year except write-down
Write-down during the
(24,077,743.32) 0.00 0.00 0.00
year
Carrying Amount,
₱ 1,626,472.78 ₱ 0.00 ₱ 0.00 ₱ 0.00
December 31, 2021
TOTAL CARRYING
AMOUNT, December 31, ₱26,704,084.79 ₱ 0.00 ₱ 0.00 ₱ 0.00
2021

12. Other Assets

2021
Accounts
Current Non-Current Total
Advances ₱ 18,573,697.56 ₱ 0.00 ₱ 18,573,697.56
Prepayments 7,063,933.77 0.00 7,063,933.77
Deposits 330,830.00 0.00 330,830.00
Other Assets 0.00 89,735.85 89,735.85
Total ₱ 25,968,461.33 ₱ 89,735.85 ₱ 26,058,197.18

13. Property, Plant and Equipment

Buildings and
Land Construction in Machinery and
Land Other
Improvements Progress Equipment
Structures
Carrying ₱17,119,309.45 ₱ 3,804,182.84 ₱ 183,458,290.96 ₱371,171,181.56 ₱127,573,978.78
Amount,
January 01,

27
 Buildings and
Land Construction in Machinery and
Land Other
Improvements Progress Equipment
Structures
2021
Additions/
0.00 0.00 81,442,461.62 0.00 40,791,423.43
Acquisitions
Totals ₱17,119,309.45 ₱3,804,182.84 ₱ 264,900,752.58 ₱371,171,181.56 ₱168,365,402.21
Disposals 0.00 0.00 0.00 0.00 0.00
Recognition of
0.00 0.00 (39,715,932.77) 39,715,932.77 0.00
Assets
Prior year
adjustment of
depreciation-
0.00 0.00 0.00 0.00 0.00
charged to
Accumulated
Surplus
Reclassification
0.00 0.00 0.00 0.00 0.00
of Assets
Depreciation
(As per
Statement of 0.00 (30,209.52) 0.00 (10,250,665.55) (32,753,010.61)
Financial
Performance)
Carrying
Amount,
December 31,
2021 (As per ₱17,119,309.45 ₱3,773,973.32= ₱ 225,184,819.81 ₱400,636,448.78 ₱135,612,391.60
Statement of
Financial
Position)
Gross Cost
(Asset
Account
Balance per ₱17,119,309.45 ₱4,207,324.51 ₱225,184,819.81 508,627,962.87 ₱339,559,692.58
Statement of
Financial
Position)
Less:
Accumulated 0.00 (433,351.19) 0.00 (107,991,514.09) (203,947,300.98)
Depreciation
Carrying
Amount,
December 31,
2021 (As per ₱17,119,309.45 ₱3,773,973.32 ₱225,184,819.81 ₱400,636,448.78 ₱135,612,391.60
Statement of
Financial
Position)

Other
Furniture,
Transportation Property, Infrastructure
Fixtures and Total
Equipment Plant and Assets
Books
Equipment
Carrying ₱17,432,673.33 ₱ 5,128,674.25 ₱14,781,608.99 ₱5,713,684.23 ₱ 746,183,584.39
Amount
January 1,

28
 Other
Furniture,
Transportation Property, Infrastructure
Fixtures and Total
Equipment Plant and Assets
Books
Equipment
2021
Additions/
0.00 688,972.00 0.00 0.00 122,922,857.05
Acquisitions
Totals ₱17,432,673.33 ₱ 5,817,646.25 ₱14,781,608.99 ₱5,713,684.23 ₱ 869,106,441.44
Disposals 0.00 0.00 0.00 0.00 0.00
Recognition of
0.00 0.00 0.00 0.00 0.00
Assets
Prior year
adjustment of
depreciation-
0.00 0.00 (10,647.00) (1,574.49) (12,221.49)
charged to
Accumulated
Surplus
Reclassification
0.00 (138,438.37) 0.00 0.00 (138,438.37)
of Assets
Depreciation
(As per
Statement of (3,385,886.37) (972,137.01) (811,744.81) (723,182.83) (48,926,836.70)
Financial
Performance)
Carrying
Amount,
December 31,
2021 (As per ₱14,046,786.96 ₱ 4,707,070.87 ₱13,959,217.18 ₱4,988,926.91 ₱ 820,028,944.88
Statement of
Financial
Position)
Gross Cost
(Asset
Account
Balance per 30,483,603.66 ₱13,123,755.87 ₱16,800,491.33 ₱8,013,304.08 ₱1,163,143,264.16
Statement of
Financial
Position)
Less:
Accumulated (16,436,816.70) (8,416,685.00) (2,841,274.15) (3,024,377.17) (343,091,319.28)
Depreciation
Carrying
Amount,
December 31,
2021 (As per ₱14,046,786.96 ₱ 4,707,070.87 ₱13,959,217.18 ₱4,988,926.91 ₱ 820,028,944.88
Statement of
Financial
Position)

14. Biological Assets

29
 Iloilo Science and Technology University
Reconciliation of the Carrying Amount of Breeding Stocks
As of December 31, 2021
Carrying Amount as of January 01, 2021 ₱ 0.00
Increase due to purchases 146,010.00
Gain arising from changes in fair value less costs to sell attributable to
0.00
physical change
Loss arising from changes in fair value less costs to sell attributable to
0.00
physical change
Loss from Sale of Biological Assets 0.00
Decreases due to sales 0.00
Carrying amount at December 31, 2021 ₱ 146,010.00

15. Intangible Assets

2021
Particulars
Computer Software
Carrying Amount, January 01, 2021 ₱ 2,409,361.96
Additions-Purchased/Acquired 902,403.91
Impairment Loss (As per Statement of Financial Performance) (1,530,875.41)
Carrying Amount, December 31, 2021 (As per Statement of Financial
₱ 1,780,890.46
Position)
Gross Cost (Balance per Statement of Financial Position) ₱ 6,396,325.96

Less: Accumulated Amortization (including accumulated impairment loss) 4,615,435.50

Carrying Amount, December 31, 2021 (As per Statement of Financial
₱ 1,780,890.46
Position)

16. Financial Liabilities

16.1 Payables

2021 2020
Particulars
Current Non-Current Current Non-Current
Accounts Payable ₱ 16,982,135.06 ₱ 0.00 ₱13,243,528.58 ₱ 0.00
Due to Officers and
17,299,038.28 0.00 1,220,541.52 0.00
Employees
Total Payables ₱ 34,281,173.34 ₱ 0.00 ₱14,464,070.10 ₱ 0.00

16.2 Bills/ Bonds/ Loans Payable

Particulars 2021 2020

30
 Current Non-current Current Non-current
Loans Payables -
₱ 0.00 ₱54,778,355.89 ₱ 0.00 ₱66,516,574.99
Domestic
Total Bills/ Bonds/
₱ 0.00 ₱54,778,355.89 ₱ 0.00 ₱66,516,574.99
Loans Payables

17. Inter-Agency Payables

2021 2020
Particulars
Current Non-Current Current Non-Current
Due to BIR ₱ 3,025,387.08 ₱ 0.00 ₱ 3,294,295.76 ₱ 0.00
Due to GSIS 230,661.15 0.00 1,059,483.59 0.00
Due to Pag-IBIG 24,257.09 0.00 221,069.68 0.00
Due to PhilHealth 207,715.62 0.00 (6,400.85) 0.00
Due to NGAs 61,381,582.50 0.00 13,645,044.88 0.00
Due to GOCCs 2,350,303.37 0.00 2,335,563.32 0.00
Total Inter-Agency
₱67,219,906.81 ₱ 0.00 ₱20,549,056.38 ₱ 0.00
Payables

18. Intra-Agency Payables

2021 2020
Particulars
Current Non-Current Current Non-Current
Due to Central Office ₱ 40,067.28 ₱ 0.00 ₱ 40,067.28 ₱ 0.00
Due to Bureaus 4,379,452.55 0.00 19,080,400.66 0.00
Due to Operating
50,256,655.00 0.00 37,155,715.00 0.00
Units
Due to Other Funds 96,056.75 0.00 1,140.00 0.00
Total Intra-Agency
₱54,772,231.58 ₱ 0.00 ₱56,277,322.94 ₱ 0.00
Payables

19. Trust Liabilities

2021 2020
Particulars
Current Non-Current Current Non-Current
Trust Liabilities ₱ 883,809.19 ₱ 0.00 ₱ 433,304.00 ₱ 0.00
Guaranty/Security
18,447,404.58 0.00 14,402,595.27 0.00
Deposits Payable
Customers' Deposits
1,155,819.16 0.00 1,161,958.56 0.00
Payable
Total Trust Liabilities ₱20,487,032.93 ₱ 0.00 ₱15,997,857.98 ₱ 0.00

20. Deferred Credits/Unearned Income

Particulars 2021 2020

31
 Current Non-current Current Non-current
Other Deferred Credits ₱ 16,601.53 ₱ 0.00 ₱ 18,740.33 ₱ 0.00
Total Deferred
₱ 16,601.53 ₱ 0.00 ₱ 18,740.33 ₱ 0.00
Credits/Unearned Income

21. Other Payables

2021 2021
Particulars
Current Non-Current Current Non-Current
Other Payables ₱64,324,135.72 ₱ 0.00 ₱100,750,529.64 ₱ 0.00
Total Other Payables ₱64,324,135.72 ₱ 0.00 ₱100,750,529.64 ₱ 0.00

22. Service and Business Income

Particulars 2021 2020

Service Income ₱ 5,247,133.28 ₱ 15,319,224.28
Registration Fees 370,750.00 2,673,400.00
Clearance and Certification Fees 16,910.00 11,910.00
Processing Fees 277,225.00 908,740.00
Fines and Penalties-Service Income 1,747,277.54 950,659.33
Other Service Income 2,834,970.74 10,774,514.95
Business Income ₱ 216,435,559.98 ₱ 175,211,078.85
School Fees 209,611,699.38 163,587,915.96
Affiliation Fees 7,500.00 19,950.00
Examination Fees 351,600.00 120,850.00
Seminar/Training Fees 0.00 0.00
Rent/Lease Income 114,813.08 839,476.69
Landing and Parking Fees 0.00 0.00
Income from Hostels/Dormitories and Other Like
140,379.00 217,107.00
Facilities
Income from Printing and Publication 0.00 105,860.00
Sales Revenue 733,078.00 65,517,735.00
Interest Income 9,371.92 3,505,550.94
Other Business Income 5,467,118.60 296,632.86
Fines and Penalties-Business Income 0.00 0.00
Total Service and Business Income ₱ 221,682,693.26 ₱ 190,530,303.13

23. Share, Grants and Donations

Particulars 2021 2020

Donations in Cash ₱ 0.00 ₱ 270,000.00

32
 Donations in Kind 30,150.00 0.00
Total Shares, Grants and Donations ₱ 30,150.00 ₱ 270,000.00

24. Non-Operating Income/Gains

Particulars 2021 2020

Gain from Initial Recognition of Biological Asset ₱ 0.00 ₱ 0.00
Gain on Sale of Biological Asset 0.00 49,523.00
Gain from Changes in Fair Vale Less Cost to Sell of 142,158.0
Biological Assets 0 52,530.00
Other Gains (Miscellaneous Income) 748,259.93 3,092,375.65
Total Non-Operating Income/Gain ₱ 890,417.93 ₱ 3,194,428.65

25. Personnel Services

25.1 Salaries and Wages

Particulars 2021 2020

Salaries and Wages-Regular ₱ 309,676,160.88 ₱ 311,343,668.02
Salaries and Wages-Casual/Contractual 1,029,344.86 1,080,656.45
Total Salaries and Wages ₱ 310,705,505.74 ₱ 312,424,324.47

25.2 Other Compensation

Particulars 2021 2020

Personal Economic Relief Allowance (PERA) ₱ 16,028,406.35 ₱ 15,304,639.68
Representation Allowance (RA) 255,000.00 260,000.00
Transportation Allowance (TA) 255,000.00 240,000.00
Clothing/Uniform Allowance 3,654,000.00 3,504,000.00
Subsistence Allowance 164,051.95 150,668,44
Laundry Allowance 15,460.85 14,946.85
Quarters Allowance 66,000.00 66,000.00
Productivity Incentive Allowance 931,000.00 892,500.00
Honoraria 14,612,123.37 5,460,281.23
Hazard Pay 7,519,002.27 1,624,806.14
Longevity Pay 134,831.85 135,954.00
Overtime and Night Pay 1,915,085.76 1,646,978.47
Year End Bonus 51,370,371.20 49,837,939.61
Cash Gift 3,244,000.00 3,079,000.00
Other Bonuses and Allowances 6,583,800.00 8,628,141.41
Total Other Compensation ₱ 106,748,133.60 ₱ 90,845,855.83

25.3 Personnel Benefit Contributions

33
 Particulars 2021 2020
Retirement and Life Insurance Premiums ₱ 37,583,764.97 ₱ 9,949,469.14
Pag-IBIG Contributions 966,613.54 739,600.00
PhilHealth Contributions 3,970,041.36 3,804,430.15
Employees Compensation Insurance Premiums 772,700.00 738,600.00
Total Personnel Benefit Contributions ₱ 43,293,119.87 ₱ 15,232,099.29

25.4 Other Personnel Benefits

Particulars 2021 2020

Terminal Leave Benefits ₱ 2,003,500.34 ₱ 4,792,170.43
Other Personnel Benefits 13,301,800.12 30,647,028.77
Total Other Personnel Benefits ₱ 15,305,300.46 ₱ 35,439,199.20

26 Maintenance and Other Operating Expenses

26.1 Traveling Expenses

Particulars 2021 2020

Traveling Expenses-Local ₱ 847,652.07 ₱ 5,622,754.45
Traveling Expenses-Foreign 0.00 0.00
Total Traveling Expenses ₱ 847,652.07 ₱ 5,622,754.45

26.2 Training and Scholarship Expenses

Particulars 2021 2020

Training Expenses ₱ 2,662,472.55 ₱ 3,204,708.63
Scholarship Grants/Expenses 1,081,620.12 1,185,132.21
Total Training and Scholarship Expenses ₱ 3,744,092.67 ₱ 4,389,840.84

26.3 Supplies and Materials Expenses

Particulars 2021 2020

Office Supplies Expenses ₱ 10,255,414.23 ₱ 8,240,388.74
Accountable Forms Expenses 18,780.00 40,696.96
Non-Accountable Forms Expenses 2,000.00 25,000.00
Animal/Zoological Supplies Expenses 224,406.00 245,384.30
Medical, Dental and Laboratory Supplies Expenses 1,140,889.30 743,380.85
Fuel, Oil and Lubricants Expenses 805,986.12 821,690.00
Agricultural and Marine Supplies Expenses 17,740.00 57,800.00
Textbooks and Instructional Materials Expenses 976,738.00 794,201.60
Semi-Expendable Machinery and Equipment
10,035,420.77 34,073,664.37
Expenses

34
 Particulars 2021 2020
Semi-Expendable Machinery 5,084,325.15 34,073,664.37
Semi-Expendable Office Equipment 1,154,578.10 0.00
Semi-Expendable Sports Equipment 75,650.00 0.00
Semi-Expendable Information and
524,553.20 0.00
Communications Technology
Semi-Expendable Communication Equipment 44,600.00 0.00
Semi-Expendable Disaster Responses and
67,300.00 0.00
Rescue Operations
Semi-Expendable -Technical and Scientific
3,084,414.32 0.00
Equipment
Semi-Expendable Furniture, Fixtures and Books
554,270.00 7,351,383.07
Expenses
Semi-Expendable Furniture and Fixtures 15,117.00 7,351,383.07
Semi-Expendable Books 539,153.00 0.00
Other Supplies and Materials Expenses 15,013,763.25 12,653,473.96
Total Supplies and Materials Expenses ₱ 39,045,407.67 ₱ 65,047,064.75

26.4 Utility Expenses

Particulars 2021 2020

Water Expenses ₱ 1,012,734.21 ₱ 1,568,285.22
Electricity Expenses 10,516,415.94 12,169,614.86
Gas/Heating Expenses 0.00 0.00
Total Utility Expenses ₱ 11,529,150.15 ₱ 13,737,900.08

26.5 Communication Expenses

Particulars 2021 2020

Postage and Courier Services ₱ 1,703.00 ₱ 355.00
Telephone Expenses 3,708,109.18 2,659,948.86
Internet Subscription Expenses 8,127,249.87 4,015,094.49
Total Communication Expenses ₱ 11,837,062.05 ₱ 6,675,398.35

26.6 Awards/Rewards and Prizes

Particulars 2021 2020

Award/Rewards ₱ 150,398.70 ₱ 44,825.00
Prizes 574,145.20 119,400.00
Total Awards/Rewards and Prizes ₱ 724,543.90 ₱ 164,225.00

26.7 Confidential, Intelligence and Extraordinary Expenses

35
 Particulars 2021 2020
Extraordinary and Miscellaneous Expenses ₱ 137,444.80 ₱ 110,000.00
Total Confidential, Intelligence and Extraordinary
₱ 137,444.80 ₱ 110,000.00
Expenses

26.8 Professional Services

Particulars 2021 2020

Legal Services ₱ 0.00 ₱ 10,800.00
Other Professional Services 36,733,443.96 20,194,160.60
Total Professional Services ₱ 36,733,443.96 ₱ 20,204,960.60

26.9 General Services

Particulars 2021 2020

Janitorial Services ₱ 4,538,992.99 ₱ 5,507,959.85
Security Services 6,973,040.48 5,875,273.63
Other General Services 1,036,018.15 1,786,034.15
Total General Services ₱ 12,548,051.62 ₱ 13,169,267.63

26.10 Repairs and Maintenance

Particulars 2021 2020

Repairs and Maintenance-Land Improvement ₱ 0.00 ₱ 101,999.99
Repairs and Maintenance-Infrastructure Assets 0.00 7,227,137.30
Repairs and Maintenance-Buildings and Other
19,360,936.96 7,243,039.34
Structures
Repairs and Maintenance-Machinery and Equipment 116,657.40 195,356.79
Repairs and Maintenance-Transportation Equipment 610,310.25 265,932.82
Repairs and Maintenance-Furniture and Fixtures 38,000.00 0.00
Repairs and Maintenance-Other Property, Plant and
0.00 0.00
Equipment
Total Repairs and Maintenance Expenses ₱ 20,125,904.61 ₱ 15,033,466.24

26.11 Taxes, Insurance Premiums and Other Expenses

Particulars 2021 2020

Taxes, Duties and Licenses ₱ 391,459.87 ₱ 91,033.98
Fidelity Bond Premiums 192,016.75 229,890.25
Insurance Expenses 3,554,479.24 3,406,844.26
Total Taxes, Insurance Premiums and Other Fees ₱ 4,137,955.86 ₱ 3,727,738.49

36
 26.12 Labor and Wages

Particulars 2021 2020

Labor and Wages ₱ 20,136,812.14 ₱ 18,431,468.65
Total Labor and Wages ₱ 20,136,812.14 ₱ 18,431,468.65

26.13 Other Maintenance and Operating Expenses

Particulars 2021 2020

Advertising, Promotional and Marketing Expenses ₱ 0.00 ₱ 28,035.00
Printing and Publication Expenses 536,940.80 522,667.62
Representation Expenses 6,953,796.39 5,149,812.91
Transportation and Delivery Expenses 39,135.60 23,638.00
Rent/Lease Expenses 0.00 3,000.00
Membership Dues and Contributions to
65,000.00 108,000.00
Organizations
Subscription Expenses 1,685,225.76 197,712.91
Other Maintenance and Operating Expenses 9,103,804.21 6,937,582.11

Total Other Maintenance and Operating Expenses ₱ 18,383,902.76 ₱ 12,970,448.55

27 Financial Expenses

Particulars 2021 2020

Interest Expenses ₱ 6,653,363.45 ₱ 2,481,377,35
Total Financial Expenses ₱ 6,653,363.45 ₱ 2,481,377.35

28 Direct Cost

Particulars 2021 2020

Cost of Sales ₱ 107,958.90 ₱ 3,733,602.60
Total Direct Cost ₱ 107,958.90 ₱ 3,733,602.60

29 Non-Cash Expenses

29.1 Depreciation

Particulars 2021 2020

Depreciation-Land Improvements ₱ 30,209.52 ₱ 30,209.52
Depreciation-Infrastructure Assets 723,182.83 723,607.29
Depreciation-Buildings and Other Structures 10,250,665.55 9,661,925.07
Depreciation-Machinery and Equipment 32,753,010.61 27,985,981.87

37
 Particulars 2021 2020
Depreciation-Land Improvements ₱ 30,209.52 ₱ 30,209.52
Depreciation-Transportation Equipment 3,385,886.37 1,890,264.89
Depreciation-Furniture, Fixtures and Books 972,137.01 838,917.63
Depreciation-Other Property, Plant and Equipment 811,744.81 690,891.51
Total Depreciation ₱ 48,926,836.70 ₱ 41,821,797.78

29.2 Amortization

Particulars 2021 2020

Amortization - Intangible Assets ₱ 1,530,875.41 ₱ 1,343,095.62
Total Amortization ₱ 1,530,875.41 ₱ 1,343,095.62

30 Net Financial Assistance/Subsidy

Financial Assistance/Subsidy from NGAs, LGUs, GOCCs

Particulars 2021 2020

Subsidy from National Government ₱870,416,218.12 ₱855,817,495.94

Total Financial Assistance/Subsidy from NGAs,
₱870,416,218.12 ₱855,817,495.94
LGUs, GOCCs

Less: Financial Assistance/Subsidy to NGAs, LGUs, GOCCs, NGOs, POs

Particulars 2021 2020

Financial Assistance to External Campuses ₱231,076,582.75 ₱243,810,496.70
Total Financial Assistance/Subsidy from NGAs LGUs,
GOCCs ₱231,076,582.75 ₱243,810,496.70

Net Financial Assistance/Subsidy ₱639,339,635.37 ₱612,006,999.24

38