Accounting Office

General Agency Profile
Bayombong is the capital town of the province. From a Third Class municipality, it was upgraded to the Second Class municipality on July 29,2005, then to a First Class municipality on July 29, 2008.Undeniably the center of learning in the province, it hosts notable institutions like Saint Mary’s University, Nueva Vizcaya State University, PLT College, Sierra College, Vizcaya Instituteof Computer Science, The Philippine Science High School -Cagayan Valley Campus, Nueva Vizcaya General Comprehensive High School and many more pre-school learning centers. It is also the home of various National Government Agencies, the Provincial Government and NGOs.
The municipality maintains three funds namely the General Fund, Special Education Fund and Trust Fund. Economic Enterprises are also maintained for the operation of the Public Market, Commercial Stalls, Memorial Park and Slaughterhouse.The municipality is envisioned to be a model for academic excellence, public health and safety, environmental preservation and good governance, providing equal opportunity for all its constituents in a peaceful, friendly atmosphere through a God-centered leadership of the incumbent elected officials.
The consolidated financial statements of the LGU have been prepared in accordance with and comply with the Philippine Public Sector Accounting Standards (PPSAS).The consolidated financial statements are presented in pesos, which is the functional and reporting currency of the LGU. The accounting policies have been applied starting the year 2015.

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES                             

  1. Basis of accounting

The more significant accounting policies and practices of the municipality are set forth to facilitate the understanding of data presented in the financial statements. The financial statements are prepared on an accrual basis in accordance with the Philippine Public Sector Accounting Standards ( PPSAS ).

  1. Expenses

All expenses are recognized when incurred and reported in the financial statements in the period to which they relate.

  1. Income

Income is on cash basis except for the real property taxes which are accounted following the accrual method.

  1. Appropriations, receipts of allotment and incurrence of obligations

The Municipality of Bayombong uses the Modified Obligation System. Appropriation, receipts of allotment and incurrence of obligations are not recorded in the books of accounts. Separate registries are maintained to control appropriations, allotments and obligations for each class of expenditures.

  1. Purchased supplies and materials

Supplies and materials purchased for stock are recorded using the Perpetual Inventory System. Specific Identification Cost Method is used in costing the inventory. Purchases made for immediate use and not for stock are charged directly to expense account.

  1. Property, plant and equipment

Property, plant and equipment are stated at historical cost less accumulateddepreciation. Assets under construction are classified as agency assets and public infrastructures. Construction Period Theory is used in recording both types of assets. All related expenses incurred during the construction of the project are capitalized and those incurred after the construction were charged against the operating cost. Liquidated damages paid by the contractor for delayed completion of the project are deducted from the project cost.

  1. Depreciation

The Straight Line Method of Depreciation is used in depreciating the Property, Plant and Equipment with estimated useful lives ranging from five to ten years. A residual value equivalent to five percent (5%) of the cost is set up.

  1. Payable accounts

Payable accounts are recognized and recorded in the books of accounts only upon acceptance of the goods/inventory/other assets and rendition of services to the Local Government Unit.

  1. Correction of Fundamental Errors

Fundamental errors of prior years are corrected by using the Prior Year’s Adjustment Account. Errors affecting the current year’s operation are charged to the current year’s accounts.

  Republic of the Philippines
Province of Nueva Vizcaya
Municipality of Bayombong
  Post Closing Trial Balance
GENERAL FUND
For the Period December 31, 2017
ACCOUNT NEW ACCOUNT  DEBIT  CREDIT
TITLES CODE
Cash Local Treasury 1-01-01-010                    (198.18)
Petty cash 1-01-01-020                75,421.95
Cash in Bank – LCCA 1-01-02-010      101,517,144.32
Accounts Receivables 1-03-01-010                42,553.08
Real Property Tax Receivable 1-03-01-020        15,262,325.42
Loans Receivable-Others 1-02-01-990              420,056.27
Due from Government – Owned and/or Controlled Corp. 1-03-03-020                12,000.00
Due from Local Government Unit 1-03-03-030           2,087,625.23
Due from Other Funds 1-03-04-050              126,893.80
Advnces to Operating Expenses 1-03-05-010              710,734.55
Advances for Payroll 1-03-05-020                 (7,348.47)
Advances for Officers and Employees 1-03-05-040           5,175,654.72
Receivables – Disallowances/Charges 1-03-06-010                94,210.04
Other Receivables 1-03-06-990              111,474.34
Office Supplies Inventory 1-04-04-010              252,684.07
Accountable Forms, Plates & Stickers 1-04-04-020              134,764.60
Drugs & Medicines Inventory 1-04-04-060              325,567.00
Medical, Dental & Laboratory Supplies Inventory 1-04-04-070                79,550.00
Other Supplies & Materials Inventory 1-04-04-990                15,785.75
Prepaid Interests 1-05-01-040                15,617.29
Other Prepayments 1-05-01-990                73,626.05
Investment, Property, Building 1-06-01-020           1,435,759.54
Land 1-07-01-010              823,898.08
Other Land Improvements 1-07-02-990           4,167,925.25
Road Network 1-07-03-010           1,346,196.84
Buildings 1-07-04-010        17,990,726.43
School Buildings 1-07-04-020              393,351.35
Hospital and Health Centers 1-07-04-030                69,040.80
Market 1-07-04-040        32,439,981.13
Other Structures 1-07-04-990        27,678,652.71
Machinery 1-07-05-010              459,500.00
Office Equipment 1-07-05-020        12,929,949.74
Information & Communication Technology Equip. 1-07-05-030           8,897,434.75
Agricultural & Forestry Equipment 1-07-05-040              175,660.00
Communication Equipment 1-07-05-070              553,660.00
Construction and Heavy Equipment 1-07-05-080        16,283,326.42
Disaster Response & Rescue Equipment 1-07-05-090           1,212,520.00
Military, Police and Security Equipment 1-07-05-100              101,400.00
Medical Equipment 1-07-05-110              103,500.00
Sports Equipment 1-07-05-130                   3,800.00
Technical & Scientific Equipment 1-07-05-140              215,062.84
Other Machineries & Equipment 1-07-05-990           3,315,257.77
Motor Vehicles 1-07-06-010        14,208,062.56
Other Transportation Equipment 1-07-06-990                82,430.00
Furnitures & Fixtures 1-07-07-010           1,990,170.97
Books 1-07-07-020                13,579.00
Other Property, Plant & Equipment 1-07-99-990              123,824.80
Accumulated Depreciation –  Other Land Improvements 1-07-02-991          3,878,274.40
Accumulated Depreciation – Road Networks 1-07-03-011               54,809.23
Accumulated Depreciation – Buildings 1-07-04-011          6,303,854.94
Accumulated Depreciation – School Buildings 1-07-04-021             367,068.46
Accumulated Depreciation – Hospitals & Health Centers 1-07-04-031               43,538.40
Accumulated Depreciation – Markets 1-07-04-041       22,530,652.79
Accumulated Depreciation – Other Structures 1-07-04-991          8,376,275.39
Accumulated Depreciation – Office Equipment 1-07-05-021       10,278,494.61
Accumulated Depreciation – Investment Property 1-06-01-021             212,922.87
ACCOUNT NEW ACCOUNT  DEBIT  CREDIT
TITLES CODE
Accumulated Depreciation – Furnitures & Fixtures 1-07-07-011          1,137,379.32
Accumulated Depreciation – Information & Communication Tech. 1-07-05-031          5,359,858.04
Accumulated Depreciation – Machinery 1-07-05-011             435,600.00
Accumulated Depreciation – Communication Equipment 1-07-05-071                  1,326.83
Accumulated Depreciation – Construction & Heavy Equipment 1-07-05-081       15,292,235.17
Accumulated Depreciation – Disaster Response & Rescue Equip. 1-07-05-091             436,212.13
Accumulated Depreciation – Military, Police & Security Equipment 1-07-05-101               85,176.00
Accumulated Depreciation – Technical & Scientific Equipment 1-07-05-141               33,979.16
Accumulated Depreciation – Other Machineries & Equipment 1-07-05-991          2,860,095.01
Accumulated Depreciation – Motor Vehicles 1-07-06-011          6,799,087.16
Accumulated Depreciation – Other Transportation Equipment 1-07-06-991               54,699.20
Accumulated Depreciation – Other Property, Plant & Equipment 1-07-99-991             111,442.30
Accounts Payable 2-01-01-010          5,714,542.09
Due to Officers & Employees 2-01-01-020               65,258.10
Due to BIR 2-02-01-010        (1,855,842.60)
Due to GSIS 2-02-01-020           (242,678.16)
Due to Pag-Ibig 2-02-01-030               28,728.01
Due to Philhealth 2-02-01-040               18,440.01
Due to Other NGA’s 2-02-01-050          1,331,782.37
Due to GOCC’s 2-02-01-060                (7,465.13)
Due to LGU’s 2-02-01-070             444,783.08
Due to Other Funds 2-03-01-010          3,761,592.77
Guarranty/Security Deposits Payables 2-04-01-040          3,381,000.00
Deferred Real Property Tax 2-05-01-010       15,262,325.42
Other Payables 2-99-99-990          1,821,035.50
Government Equity 3-01-01-010     159,164,329.94
Total P      273,540,812.81  P     273,540,812.81
Certified Correct:
ALVIN JAMES F. ABELLAR, CPA
Acting – Municipal Accountant
  Republic of the Philippines
Province of Nueva Vizcaya
Municipality of Bayombong
  Pre Closing Trial Balance
GENERAL FUND
For the Period December 31, 2017
ACCOUNT NEW ACCOUNT  DEBIT  CREDIT
TITLES CODE
Cash Local Treasury 1-01-01-010                    (198.18)
Petty cash 1-01-01-020                75,421.95
Cash in Bank – LCCA 1-01-02-010      101,517,144.32
Accounts Receivables 1-03-01-010                42,553.08
Real Property Tax Receivable 1-03-01-020        15,262,325.42
Loans Receivable-Others 1-03-01-990              420,056.27
Due from Government – Owned and/or Controlled Corp. 1-03-03-020                12,000.00
Due from Local Government Unit 1-03-03-030           2,087,625.23
Due from Other Funds 1-03-04-050              126,893.80
Advnces to Operating Expenses 1-03-05-010              710,734.55
Advances for Payroll 1-03-05-020                 (7,348.47)
Advances for Officers and Employees 1-03-05-040           5,175,654.72
Receivables – Disallowances/Charges 1-03-06-010                94,210.04
Other Receivables 1-03-06-990              111,474.34
Office Supplies Inventory 1-04-04-010              252,684.07
Accountable Forms, Plates & Stickers 1-04-04-020              134,764.60
Drugs & Medicines Inventory 1-04-04-060              325,567.00
Medical, Dental & Laboratory Supplies Inventory 1-04-04-070                79,550.00
Other Supplies & Materials Inventory 1-04-04-990                15,785.75
Prepaid Interests 1-05-01-040                15,617.29
Other Prepayments 1-05-01-990                73,626.05
Investment, Property, Building 1-06-01-020           1,435,759.54
Land 1-07-01-010              823,898.08
Other Land Improvements 1-07-02-990           4,167,925.25
Road Network 1-07-03-010           1,346,196.84
Buildings 1-07-04-010        17,990,726.43
School Buildings 1-07-04-020              393,351.35
Hospital and Health Centers 1-07-04-030                69,040.80
Market 1-07-04-040        32,439,981.13
Other Structures 1-07-04-990        27,678,652.71
Machinery 1-07-05-010              459,500.00
Office Equipment 1-07-05-020        12,929,949.74
Information & Communication Technology Equip. 1-07-05-030           8,897,434.75
Agricultural & Forestry Equipment 1-07-05-040              175,660.00
Communication Equipment 1-07-05-070              553,660.00
Construction and Heavy Equipment 1-07-05-080        16,283,326.42
Disaster Response & Rescue Equipment 1-07-05-090           1,212,520.00
Military, Police and Security Equipment 1-07-05-100              101,400.00
Medical Equipment 1-07-05-110              103,500.00
Sports Equipment 1-07-05-130                   3,800.00
Technical & Scientific Equipment 1-07-05-140              215,062.84
Other Machineries & Equipment 1-07-05-990           3,315,257.77
Motor Vehicles 1-07-06-010        14,208,062.56
Other Transportation Equipment 1-07-06-990                82,430.00
Furnitures & Fixtures 1-07-07-010           1,990,170.97
Books 1-07-07-020                13,579.00
Other Property, Plant & Equipment 1-07-99-990              123,824.80
Accumulated Depreciation –  Other Land Improvements 1-07-02-991          3,878,274.40
Accumulated Depreciation – Road Networks 1-07-03-011               54,809.23
Accumulated Depreciation – Buildings 1-07-04-011          6,303,854.94
Accumulated Depreciation – School Buildings 1-07-04-021             367,068.46
Accumulated Depreciation – Hospitals & Health Centers 1-07-04-031               43,538.40
Accumulated Depreciation – Markets 1-07-04-041       22,530,652.79
Accumulated Depreciation – Other Structures 1-07-04-991          8,376,275.39
Accumulated Depreciation – Office Equipment 1-07-05-021       10,278,494.61
Accumulated Depreciation – Investment Property 1-06-01-021             212,922.87
ACCOUNT NEW ACCOUNT  DEBIT  CREDIT
TITLES CODE
Accumulated Depreciation – Furnitures & Fixtures 1-07-07-011          1,137,379.32
Accumulated Depreciation – Information & Communication Tech. 1-07-05-031          5,359,858.04
Accumulated Depreciation – Machinery 1-07-05-011             435,600.00
Accumulated Depreciation – Communication Equipment 1-07-05-071                  1,326.83
Accumulated Depreciation – Construction & Heavy Equipment 1-07-05-081       15,292,235.17
Accumulated Depreciation – Disaster Response & Rescue Equip. 1-07-05-091             436,212.13
Accumulated Depreciation – Military, Police & Security Equipment 1-07-05-101               85,176.00
Accumulated Depreciation – Technical & Scientific Equipment 1-07-05-141               33,979.16
Accumulated Depreciation – Other Machineries & Equipment 1-07-05-991          2,860,095.01
Accumulated Depreciation – Motor Vehicles 1-07-06-011          6,799,087.16
Accumulated Depreciation – Other Transportation Equipment 1-07-06-991               54,699.20
Accumulated Depreciation – Other Property, Plant & Equipment 1-07-99-991             111,442.30
Accounts Payable 2-01-01-010          5,714,542.09
Due to Officers & Employees 2-01-01-020               65,258.10
Due to BIR 2-02-01-010        (1,855,842.60)
Due to GSIS 2-02-01-020           (242,678.16)
Due to Pag-Ibig 2-02-01-030               28,728.01
Due to Philhealth 2-02-01-040               18,440.01
Due to Other NGA’s 2-02-01-050          1,331,782.37
Due to GOCC’s 2-02-01-060                (7,465.13)
Due to LGU’s 2-02-01-070             444,783.08
Due to Other Funds 2-03-01-010          3,761,592.77
Guarranty/Security Deposits Payables 2-04-01-040          3,381,000.00
Deferred Real Property Tax 2-05-01-010       15,262,325.42
Other Payables 2-99-99-990          1,821,035.50
Government Equity 3-01-01-010     129,125,278.97
Prior Year Adjustment 3-01-01-020           1,028,927.64
Community Tax 4-01-01-050             812,743.46
Real Property Tax – Basic 4-01-02-040          2,763,834.48
Business Tax 4-01-03-030          7,771,147.98
Tax on Sand, Gravel & Other Quarry Products 4-01-03-040             432,145.67
Amusement Tax 4-01-03-060                  2,437.88
Other  Taxes 4-01-04-990          3,586,459.54
Tax Revenue – Fines & Penalties – Other Taxes 4-01-05-040             388,867.81
Share from Internal Revenue Collections (IRA) 4-01-06-010     132,943,582.00
Permit Fees 4-02-01-010          1,559,362.00
Registration Fees 4-02-01-020          5,875,376.44
Clearance & Certification Fees 4-02-01-040          1,428,520.00
Inspection Fees 4-02-01-100             768,979.19
Fees for Sealing & Licensing of Wieghts & Measures 4-02-01-160             110,704.50
Fines & Penalties – Service Income 4-02-01-980             133,005.62
Other Service Income 4-02-01-990          2,587,480.41
Rent Income 4-02-02-050             181,850.00
 Receipts from Market Operation 4-02-02-140          8,977,925.00
Receipts from Slaughterhouse Operation 4-02-02-150             262,560.50
Receipts from Cemetery Operation 4-02-02-160          1,580,250.00
Receipts from Printing & Publication 4-02-02-170                  5,975.00
Sales Revenue 4-02-02-180             135,200.00
Garbage Fees 4-02-02-190             336,004.00
Hospital Fees 4-02-02-200               68,665.00
Dividend Income 4-02-02-210                  7,319.85
Interest Income 4-02-02-220             182,476.42
Fines & Penalties – Business Income 4-02-02-980             144,800.00
Other Business Income 4-02-02-990               11,770.00
Share from PCSO 4-04-01-010             295,141.14
Miscellaneous Income 4-06-01-010                          6.00
Salaries and Wages – Regular 5-01-01-010        42,164,977.80
Personnel Economic Releif Allowance (PERA) 5-01-02-010           4,191,363.63
Representation Allowance (RA) 5-01-02-020           1,958,062.50
Transportation Allowance (TA) 5-01-02-030           1,958,062.50
Clothing/Uniform Allowance 5-01-02-040              885,000.00
Subscistence Allowance 5-01-02-050              145,750.00
Laundry Allowance 5-01-02-060                39,250.00
ACCOUNT NEW ACCOUNT  DEBIT  CREDIT
TITLES CODE
Productivity Incentive Allowance 5-01-02-080              863,000.00
Hazard Pay 5-01-02-11-                52,481.62
Year End Bonus 5-01-02-140           6,830,921.00
Cash Gift 5-01-02-150              864,000.00
Retirement  & Life Insurance Premiums 5-01-03-010           5,072,849.70
Pag-Ibig Contribution 5-01-03-020              845,322.08
Philhealth Contribution 5-01-03-030              408,047.76
Employees Compensation Insurance Premiums 5-01-03-040              206,735.79
Terminal Leave Benefits 5-01-04-030           1,753,542.78
Other Personnel Benefits 5-01-04-990           7,814,003.09
Travelling Expenses – Local 5-02-01-010           2,031,004.64
Training Expenses 5-02-02-010              901,360.00
Office Supplies Expenses 5-02-03-010           1,323,877.86
Accountable Form Expenses 5-02-03-020              342,226.00
Animal/Zoological Supplies Expense 5-02-03-040              132,032.00
Food Supplies Expenses 5-02-03-050              233,327.57
Drugs & Medicines Expenses 5-02-03-070              391,199.00
Medical, Dental & Laboratory Expenses 5-02-03-080              107,432.00
Fuel, Oil & Lubricants Expenses 5-02-03-090           3,401,338.92
Agricultural & Marine Supplies Expenses 5-02-03-100                50,340.00
Other Supplies  and Materials Expenses 5-02-03-990           2,216,056.67
Water Expenses 5-02-04-010              145,730.60
Electricity Expenses 5-02-04-020           2,132,113.09
Postage and Courier 5-02-05-010                   4,690.00
Telephone Expenses 5-02-05-020              948,955.91
Cable, Satellite, Telegraph & Radio Expenses 5-02-05-040                   3,525.00
Extraordinary & Miscellaneous Expenses 5-02-10-030                32,000.00
Other Professional Services 5-02-11-990        10,786,001.00
Environment/Sanitary Expenses 5-02-12-010           4,102,856.00
Other General Services 5-02-12-990              929,085.00
Building & Other Structures 5-02-13-040              873,314.67
Repairs & Maintenance – Machineries & Equipment 5-02-13-050           1,111,184.41
Repairs & Maintenance – Transportation Equipment 5-02-13-060              701,418.91
Furnitures & Fixtures 5-02-13-070                59,469.00
Other Property, Plant & Equipment 5-02-13-990                12,375.00
Subsidy to Other Local Government Units 5-02-14-030           6,723,243.38
Subsidy to Other Funds 5-02-14-060           2,613,594.65
Fidelity Bond Premium 5-02-16-020                78,675.00
Insurance Expenses 5-02-16-030              158,881.26
Advertising Expense 5-02-99-010              285,500.00
Printing & Publication Expense 5-02-99-020                30,350.00
Representation Expense 5-02-99-030           2,034,506.84
Membership Dues & Constributions 5-02-99-060                59,100.00
Donations 5-02-99-080           2,064,862.10
Maintenance & Other Operating Expense 5-02-99-990        13,049,379.32
Interest Expense 5-03-01-020              279,179.20
Depreciation – Investment Property 5-05-01-010              116,348.93
Depreciation – Furnitures, Fixtures & Books 5-05-01-070                98,354.68
Depreciation – Infrastructure Assets 5-05-01-030                54,809.23
Depreciation – Building & Structures 5-05-01-040           3,306,613.39
Depreciation – Machinery & Equipment 5-05-01-050           1,291,367.31
Depreciation – Transportation Equipment 5-05-01-060           1,015,562.49
Total P      416,856,351.73  P     416,856,351.73
Certified Correct:
ALVIN JAMES F. ABELLAR, CPA
Acting – Municipal Accountant
MUNICIPALITY OF BAYOMBONG
Statement of Financial Position – General Fund
For the Year Ended December 31, 2017
2016 2017
A S S E T S
Current Assets
Cash Local Treasury P (198.18) P (198.18)
Petty Cash               75,536.20               75,421.95
Cash in Bank-Local Currency Current Account       75,912,076.45     101,517,144.32
Accounts Receivable               42,553.08               42,553.08
Real Property Tax Receivables       14,475,331.71       15,262,325.42
Loans Receivable-Others             420,056.27             420,056.27
Due from GOCCs               12,000.00               12,000.00
Due from LGU’s         2,202,625.23         2,087,625.23
Due from  Other Funds             126,893.80             126,893.80
Advances to Operating Expenses             734,080.53             710,734.55
Advances for Payroll                              –                (7,348.47)
Advances for Officers and Employees         4,664,788.87         5,175,654.72
Receivables – Disallowances/Charges             144,210.04               94,210.04
Other Receivables             111,474.34             111,474.34
Office Supplies Inventory               95,963.75             252,684.07
Accountable Forms, Plates & Stickers             134,764.60             134,764.60
Drugs and Medicines Inventory 273,947.00 325,567.00
Medical, Dental & Lboratory Supplies Inventory 79,550.00 79,550.00
Other Supplies & Materials Inventory 15,785.75 15,785.75
Total Current Assets P       99,521,439.44 P     126,436,898.49
Non-Current Assets
Prepaid Interests P                              – P               15,617.29
Other Pre-payments                              –               73,626.05
Investment, Property, Building         1,101,790.02         1,222,836.67
Land             823,898.08             823,898.08
Other Land Improvements             289,650.85             289,650.85
Road Network         2,970,362.55         1,291,387.61
Water Supply System             906,865.61                              –
Buildings       12,083,395.45       11,686,871.49
School Buildings               26,282.89               26,282.89
Hospitals and Health Centers               28,223.55               25,502.40
Market       11,523,992.10         9,909,328.34
Other Structures       18,882,645.87       19,302,377.32
Machinery               23,900.00               23,900.00
Office Equipments         2,351,607.87         2,651,455.13
Information & Communication Technology Equipment         2,677,183.23         3,537,576.71
Agricultural & Fishery  Equipment             175,660.00             175,660.00
Communication Equipment               60,033.17             552,333.17
Construction and Heavy Equipment                              –             991,091.25
Disaster Response & Rescue Equipment         1,006,686.67             776,307.87
Military, Police & Security Equipment               26,871.00               16,224.00
Medical Equipment             103,500.00             103,500.00
Sports Equipment                 3,800.00                 3,800.00
Technical and Scientific Equipment             184,859.14             181,083.68
Other Machineries and Equipment             364,932.00             455,162.76
Motor Vehicles         4,092,800.49         7,408,975.40
Other Transportation Equipment               34,568.20               27,730.80
Furnitures and Fixtures             487,436.33             852,791.65
Books               13,579.00               13,579.00
Other Property, Plant & Equipment               12,382.50               12,382.50
Non-Current Assets P       60,256,906.57 P       62,450,932.91
TOTAL ASSETS P     159,778,346.01 P     188,887,831.40
L I A B I L I T I E S  AND  E Q U I T Y
L I A B I L I T I E S
Current Liabilities
Accounts Payable P         3,673,332.28 P         5,714,542.09
Due to Officers and Employees               65,258.10               65,258.10
Due to BIR        (2,015,158.50)        (1,855,842.60)
Due to GSIS             759,429.95           (242,678.16)
Due to Pag-ibig               29,825.19               28,728.01
Due to Philhealth               15,390.01               18,440.01
Due to Other NGAs         1,331,524.37         1,331,782.37
Due to GOCC’s                (5,815.00)                (7,465.13)
Due to LGUs         1,960,664.01             444,783.08
Due to Other Funds             253,156.96         3,761,592.77
Guarranty/Security Deposits Payable         3,381,000.00         3,381,000.00
Total Current Liabilities P         9,448,607.37 P       12,640,140.54
Non-Current Liabilities
Other Payables         2,851,899.80         1,821,035.50
Total Non-Current Liabilities P         2,851,899.80 P         1,821,035.50
Deferred Real Property Tax
Deferred Real Property Tax       14,475,331.71       15,262,325.42
Total Deferred Real Property Tax P       14,475,331.71 P       15,262,325.42
TOTAL LIABILITIES P       26,775,838.88 P       29,723,501.46
NET ASSETS/EQUITY
Government Equity     133,002,507.13     159,164,329.94
TOTAL LIABILITIES AND EQUITY P     159,778,346.01 P     188,887,831.40
 Certified Correct:
                                                   ALVIN JAMES F. ABELLAR, CPA
                                                   Acting – Municipal Accountant