09-CebuCity2017 Part1-Notes To FS

Republic of the Philippines
City of Cebu
OFFICE OF THE CITY ACCOUNTANT
COMBINED NOTES TO FINANCIAL STATEMENTS

For the Year Ended December 31, 2017
GENERAL FUND / SPECIAL EDUCATION FUND / TRUST FUND
I. Profile
The City of Cebu was originally created under Commonwealth Act No. 58, as amended by RA No.
3857 otherwise known as “ the Revised Charter of the City of Cebu”, which took effect on June 10,
1964.
Consistent with the policy of the state under Section 2, RA 7160, otherwise known as the “Local
Government Code of 1991”, Cebu City enjoys genuine and meaningful autonomy and is vested
with more powers, authority, responsibilities and resources to enable it to attain its fullest
development as self-reliant community and make it more effective partner in the attainment of
national goals.
Moreover, under Section 448 of the RA 7160, the city is responsible for the coordination and
delivery of basic, regular and direct services and effective governance of the inhabitants within its
territorial jurisdiction.
II. Statement of Compliance
The financial statements have been prepared in accordance and in compliance with the Philippine
Public Sector Accounting Standards (PPSAS) in adherence to the Commission on Audit Circular
No. 2014-003 dated January 24, 2014.
The financial statements are presented in Philippine peso, which is the functional and reporting
currency of the agency. The accounting policies have been applied starting the year 2015.
III. Summary of significant accounting policies
i. Basis of accounting
The agency uses modified accrual basis of accounting. All expenses are recognized when
incurred and reported in the financial statements in the period to which they relate. Income
is on accrual basis except for transactions where accrual basis is impractical as when other
methods are required by law. The cash flows statement is prepared using the direct method
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ii. Consolidation
The Combined Financial Statements include the Consolidated General Fund, Consolidated
Trust Fund and the Special Education Fund. The agency maintains special accounts under
General Fund and Trust Fund, summarized as follows:
General Fund Trust Fund

1 Proper 1 Proper
2 Local Development Fund 2 Barrio Fund
3 CREMDEC 3 UHNP
4 Hospital 4 IFP / LPP
5 Housing Project / DWUP 5 CDF
6 Loans 6 Calamity
7 Market 7 Rural / Urban
8 CITOM / Traffic 8 NALGU / BALGU
9 Abattoir / Slaughterhouse 9 UNICEF
1 1
Transportation
0 0 PDAF
1
LGSEF
1
iii. Interest in Joint Venture
The agency has an interest in a joint venture which is a jointly controlled entity, whereby
the venturers have a binding arrangement that establishes joint control over the
economic activities of the entity.
iv. Revenue recognition
Revenue from non-exchange transactions
Taxes, fees and fines
The agency recognizes revenues from fees, taxes and fines when the event occurs
and the asset recognition criteria are met. Other non-exchange revenues are
recognized when it is probable that the future economic benefits or service
potential associated with the asset will flow to the entity and the fair value of the
asset can be measured reliably.
Transfers from other government entities
Revenues from non-exchange transactions with other government entities are

measured at fair value and recognized on obtaining control of the asset (cash,
goods, services and property) if the transfer is free from conditions and it is
probable that the economic benefits or service potential related to the asset will
flow to the agency and can be measured reliably.
Revenue from exchange transactions
Sale of goods
13
Revenue from the sale of goods is recognized when the significant risks and
rewards of ownership have been transferred to the buyer, usually on delivery of
the goods and when the amount of revenue can be measured reliably and it is
probable that the economic benefits or service potential associated with the
transaction will flow to the agency.
Rental income
Rental income arising from operating leases on investment properties is accounted

for on a straight-line basis over the lease terms and included in revenue.
v. Investment Property
Investment properties are derecognized either when they have been disposed of or when
the investment property is permanently withdrawn from use and no future economic
benefit or service potential is expected from its disposal. The difference between the net
disposal proceeds and the carrying amount of the asset is recognized in the surplus or
deficit in the period of derecognition. Transfers are made to or from investment property
only when there is a change in use.
vi. Property, Plant and Equipment
All property, plant and equipment are stated at cost less accumulated depreciation and
impairment losses. Cost includes expenditure that is directly attributable to the
acquisition of the items. Repair and maintenance costs are recognized in surplus or
deficit as incurred.
The agency adopts the Straight Line Method of Depreciation to compute for depreciation
of Property, Plant and Equipment with estimated useful lives ranging from five to fifty
years as dictated by COA Circular No. 2003-007. A residual value computed at ten
percent (10%) of the cost of asset is set and depreciation starts on the succeeding month
after date of purchase. The agency is still using the 10% residual value instead of 5%
per PPSAS due to system limitation, the eNGAS system we are currently using is subject
for update for the implementation of 5% residual value.
vii. Liabilities
Payables are recognized and recorded in the books only upon the acceptance of
goods/inventory/other asset and rendition of services to the agency.
viii. Cash and cash equivalents
Cash and cash equivalents comprise cash on hand, cash in bank and assets 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.
ix. Inventories
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Inventory is measured at cost upon initial recognition. To the extent that inventory was
received through non-exchange transactions (for no cost or for a nominal cost), the cost
of the inventory is its fair value at the date of acquisition.
Supplies and Materials purchased for inventory purposes are recorded using the
Perpetual Inventory System. Furthermore, it uses the weighted average method in the
costing thereof.
Inventories are recognized as an expense when deployed for utilization or consumption

in the ordinary course of operations of the agency.
x. Provisions
Provisions are recognized when the agency has a present obligation (legal or
constructive) as a result of a past event, it is probable that an outflow of resources
embodying economic benefits or service potential will be required to settle the obligation
and a reliable estimate can be made of the amount of the obligation.
Contingent liabilities
The LGU does not recognize a contingent liability, but discloses details of any
contingencies in the notes to the financial statements, unless the possibility of an
outflow of resources embodying economic benefits or service potential is remote.
Contingent assets
The agency does not recognize a contingent asset, but discloses details of a
possible asset whose existence is contingent on the occurrence or non-occurrence
of one or more uncertain future events not wholly within the control of the agency
in the notes to the financial statements.
xi. Foreign currency transactions
Transactions in foreign currencies are initially accounted for at the ruling rate of exchange
on the date of the transaction. Exchange differences arising from the settlement of loans
payable at rates different from those at which they were initially recorded during the
period, are recognized as income or expenses in the period in which they arise.
xii. Borrowing costs
Borrowing costs are recognized as expense in the period in which they are incurred.
xiii. Prior Year’s Adjustments
Unrecorded income, expenses and adjustments of prior years are adjusted using the
Prior Year Adjustments account. Adjustments affecting current year operation are
charged to the current years account.
xiv. Budget information
The annual budget is prepared on the modified accrual basis, that is, all planned costs
and income are presented in a single statement to determine the needs of the agency.
15
As a result of the adoption of the accrual basis for budgeting purposes, there are no
basis, timing or entity differences that would require reconciliation between the actual
comparable amounts and the amounts presented as a separate additional financial
statement in the statement of comparison of budget and actual amounts.
The agency has the option to present this comparison either as a separate additional
financial statement or as additional budget columns in the financial statements (IPSAS
24.14). The agency has chosen to present the comparison separately.
The original and final budgeted amounts of Revenues are estimated receipts and are
reasonably projected as collectible for the year. The budget statement also reflects the
classification adopted for budgeting purposes. Thus, there are material differences as
compared with the actual amounts.
IV. RELEVANT DISCLOSURES
NOTES TO STATEMENT OF FINANCIAL POSITION
Note 1 - Cash and Cash Equivalents

2016
Particulars 2017 2016* (Submitted FS
(Restated) for CY2016)
Cash Local Treasury 124,184,933.92 27,055,449.60 27,055,449.60

Petty Cash 12,249.36 7,249.36 7,249.36
Cash in Bank - Local Currency, Current
Account 1,466,503,538.97 1,972,129,461.47 1,972,129,461.47
Cash in Bank - Foreign Currency,
Savings Account 26,860,189.23 39,592,039.49 39,592,039.49
Cash in Bank – Local Currency, Time
Deposits 9,225,943,650.82
1,617,560,911.48 2,038,784,199.92 11,264,727,850.74
*The restatement made was due to reclassification of Cash in Bank – Local Currency, Time
Deposits from Cash and Cash Equivalent to Investment.
Cash in banks earns interest based on the prevailing bank deposit rates.
Cash – Local Treasury
The balance of P 124,184,933.92 is composed of the following per subsidiary ledgers:
Special Education
Particulars General Fund Trust Fund Total
Fund
Oliva, Ofelia M. 165,671.60 - 547.28 166,218.88
Empaces, Renee Tan 124,334.90 - (1.30) 124,333.60
Biene,Rosevilla R. 0.46 - - 0.46
Garrido, Esterlita Torres 18,881,689.85 7,911,271.39 564,159.08 27,357,120.32
Mendez, Marissa Tinga (30.00) - - (30.00)
16
Chan, Anya Delos
Reyes
13,809,223.16 82,837,525.70 (31,340.36) 96,615,408.50
Camarillo,Tessie C. (114,268.56) - 36,150.72 (78,117.84)
32,866,621.41 90,748,797.09 569,515.42 124,184,933.92
Petty Cash
The balance of P 12,249.36 is composed of the following per subsidiary ledgers:
Special
Education Fund
Borces, Jesus Cogtas 1,772.00 - - 1,772.00
Golosino, Julius Soriano 5,000.00 5,000.00
Plarizan, Rene Padilla (122.90) - - (122.90)
Sanchez, Antonio Bate 1,800.00 - - 1,800.00
Sebes, ZosimaLlamedo 0.26 - - 0.26
Sistona, Nida Alivio 1,800.00 - - 1,800.00
Salomon, Mark Rossel 2,000.00 - - 2,000.00
12,249.36 - - 12,249.36
Cash in Bank – Local Currency, Current Account
The balance of P 1,466,503,538.97 is composed of the following per subsidiary ledgers:
Special
Particulars General Fund Education Trust Fund Total
Fund
BIR Remittance 30,000.00 - - 30,000.00
Gf - Proper 224,305,370.51 - - 224,305,370.51
Gf - 20% Local 266,540,437.3 266,540,437
Development Fund 2 - - .32
Gf - CREMDEC 9,759,110.26 - - 9,759,110.26
Gf - Hospital 47,722,360.10 - - 47,722,360.10
Gf - Housing Project 12,670,482.21 - - 12,670,482.21
Gf - Market 80,569,252.00 - - 80,569,252.00
Gf - Slaughterhouse 344,790.04 - - 344,790.04
Special Education Fund - 132,529,383.22 - 132,529,383.22
653,162,201.4
TF - Proper - - 653,162,201.41
1
TF - Barrio Fund - - 5,698,503.59 5,698,503.59
TF - CDF - - 31,036,052.18 31,036,052.18
TF – UNICEF - - 264,625.10 264,625.10
TF - PDAF - - 1,870,971.03 1,870,971.03
692,032,353.3
641,941,802.44 132,529,383.22 1,466,503,538.97
1
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Cash in Bank – Foreign Currency, Savings Account
The balance of P 26,860,189.23 represents dollar savings account at Land Bank of the Philippines
with account no. 1454-0026-40.
Note 2 - Investments
2016
Particulars 2017 2016* (Submitted FS
(Restated) for CY 2016)
Cash in Bank – Local Currency, Time
Deposits 10,058,559,710.98 9,225,943,650.82
Cash in Bank – Foreign Currency, Time
Deposits 22,017,720.00
Deposit on Letters of Credit 136,015,478.04 136,015,478.04 136,015,478.04
Guaranty Deposits 4,394,968.30 4,394,968.30 4,394,968.30
Total 10,220,987,877.32 9,366,354,097.16 140,410,446.34
Cash in Bank – Local Currency, Time Deposits
The balance of P 10,058,559,710.98 represents short time deposits in the functional and reporting
currency of the agency (Philippine peso) at Land Bank of the Philippines.
Cash in Bank – Foreign Currency, Time Deposits
The balance of P 22,017,720.00 represents General Fund Dollar Savings with Account No. 1454-
0026-40 to High Yield Savings Account at $100,000,000.00 for 2 years at Land Bank of the
Philippines.
Deposits on Letter of Credit
Guaranty Deposits amounting to P 136,015,478.04 under General Fund are composed of

beginning balances set-up in 2006 when the electronic new government accounting system was
implemented.
Note 3 – Receivables
Particulars 2017 2016

Accounts Receivable 2,745,763.92 2,745,763.92
Advances for Operating Expenses 117,483.38 -
Advances to Officers and Employees 1,921,673.64 1,796,295.28
Advances for Payroll 128,647.37 15,390.11
Advances to Special Disbursing Officer 32,097,031.25 46,956,614.86
Due from Government-Owned and/or
Controlled Corporations 699,563.13 699,563.13
Due from Local Economic Enterprise 192,899,936.58 192,672,328.22
18
Due from Local Government Units 826,974,248.90 883,211,561.61
Due from National Government Agencies 32,613,438.67 29,205,235.65
Due from Non-Government
Organizations/People's Organizations 53,335,165.91 56,541,179.13
Due from Officers and Employees 42,336,034.73 42,378,108.02
Due from Other Funds 417,980,445.39 192,981,567.77
Due from Special Accounts 2,718,552,569.58 2,677,871,367.60
Other Receivables 6,112,040,613.83 6,111,610,440.17
Real Property Tax Receivable 599,479,064.00 439,181,116.60
Receivables - Disallowances/Charges 70,628,109.83 70,670,553.02
Special Education Tax Receivable 299,739,531.99 219,590,558.30
Total 11,404,289,322.10 10,968,127,643.39
The amount of P 511,028.00 of Accounts Receivable reflected in the Statement of Financial

Position of Trust Fund pertains to the amount set up as beginning balance in 2006 when the electric
new government accounting system was implemented.
Note 4 – Inventories

Inventory Held for Sale
Merchandise Inventory 42,962.84 42,962.84
Inventory Held for Distribution
Agricultural Produce for Distribution 315,133.95 315,133.95
Drugs and Medicines for Distribution - -
Medical, Dental and Laboratory Supplies for Distribution - -
Inventory Held for Consumption
Office Supplies Inventory 42,654,864.66 93,535,564.01
Accountable Forms, Plates and Stickers 21,846,512.68 22,351,228.42
Animal/Zoological Supplies Inventory 1,141,516.00 1,141,516.00
Food Supplies Inventory 8,578,689.60 4,958,525.60
Drugs and Medicine Inventory 57,336,767.79 57,376,505.79
Medical, Dental and Laboratory Supplies Inventory 45,125,312.73 45,125,312.73
Fuel, Oil and Lubricants Inventory 82,053,390.42 58,739,286.78
Agricultural and Marine Supplies Inventory 3,994,895.36 4,992,395.36
Textbooks and Instructional Materials Inventory 500,000.00 500,000.00
Military, Police and Traffic Supplies Inventory 722,000.00 722,000.00
Construction Materials Inventory 71,242,792.46 65,370,555.23
Other Supplies and Materials Inventory 86,016,670.08 85,463,159.73
Total 421,571,508.57 440,634,146.44
Merchandise Inventory
The balance of P 42,962.84 as reflected in the Statement of Financial Position of General Fund is
composed of the beginning balance set up in 2006 when the electronic new government accounting
system was implemented.
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Agricultural Produce for Distribution
The balance of P 315,133.95 is composed of the following per subsidiary ledgers:
Particulars General Fund Special Education Fund Trust Fund Total

Michael Llanos 30,000.00 - - 30,000.00
Ronald Malacora 172,500.00 - - 172,500.00
Beginning
Balance 112,633.95 - - 112,633.95
315,133.95 315,133.95 315,133.95 315,133.95
Office Supplies Inventory
Special Education
Fund
Antonio Picson 2,792,137.50 - - 2,792,137.50
Arnel Tancinco 43,754.34 - - 43,754.34
Celso Oyardo - 160,595.00 - 160,595.00
Charity Contreras 0.01 - - 0.01
Ester Cubero 6,860,512.53 291.00 - 6,860,803.53
Jerome Ang 626,249.69 6,982.50 - 633,232.19
Lot Sy 22,456.00 - - 22,456.00
Napoleon Bacus - 621,375.83 - 621,375.83
Ronald Malacora 13,080,144.82 910,000.00 6,400.00 13,996,544.82
Ruth Libumfacil - - - -
For ID 10,463,429.21 5,908,634.23 1,151,902.00 17,523,965.44
33,888,684.10 7,607,878.56 1,158,302.00 42,654,864.66
Accountable Forms, Plates and Stickers

Ester Cubero 595,526.04 - - 595,526.04
Aying Zosima 13,383,773.71 - - 13,383,773.71
Arnel
2,335,325.86 - - 2,335,325.86
Tancinco
For ID 5,310,059.62 83,377.45 138,450.00 5,531,887.07
21,624,685.23 83,377.45 138,450.00 21,846,512.68
Animal / Zoological Supplies Inventory
20
The balance of P 1,141,516.00 is composed of the following per subsidiary ledgers for General
Fund:
Particulars Amount
Alice Utlang 4,050.00
Ester Cubero 567,530.00
Ronald Malacora 569,936.00
Total 1,141,516.00

Ester Cubero 478,990.80 - - 478,990.80
Ronald
8,076,815.00 - - 8,076,815.00
Malacora
For ID - 22,883.80 - 22,883.80
Total 8,555,805.80 22,883.80 0.00 8,578,689.60

Darwin Maningo 949,050.00 - - 949,050.00
Doris Perral 5,906,870.00 - - 5,906,870.00
Ester Cubero 1,390,436.61 - - 1,390,436.61
Ronald
- - 90,351.40
Malacora 90,351.40
Tessie Canono - - - 0.00
For ID 48,635,390.21 - 364,669.57 49,000,059.78
Total 56,972,098.22 - 364,669.57 57,336,767.79

Darwin Maningo 388,977.00 - - 388,977.00
Doris Perral 10,479,060.90 - 975,120.00 11,454,180.90
Ester Cubero 135,424.00 - - 135,424.00
Ronald
- - 694,210.00
Malacora 694,210.00
Ruth Libumfacil - - 0.00
Tessie Canono - - 0.00
For ID 19,162,367.69 - 13,290,153.14 32,452,520.83
Total 30,860,039.59 0.00 14,265,273.14 45,125,312.73
Fuel, Oil and Lubricants Inventory
Special
Fund
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Alice Utlang - - - -
Antonio Picson 328,090.02 - - 328,090.02
Apollo Dante 5,581,864.64 - - 5,581,864.64
Cecilia Valenzuela - - - -
Ester Cubero 152,150.11 - - 152,150.11
Faustino Tibon 378.25 - - 378.25
Fuel for Depot 20,513,670.89 - 10,585,491.07 31,099,161.96
Jerome Ang 204,714.00 - - 204,714.00
Meyrick Ricardo 34,963,364.96 34,963,364.96
Balaga - -
Ronald Malacora 153,219.33 - - 153,219.33
For ID 9,226,551.05 41,109.40 302,786.70 9,570,447.15
Total 71,124,003.25 41,109.40 10,888,277.77 82,053,390.42
Agricultural and Marine Supplies Inventory
The balance of P 3,994,895.36 composed of the following per subsidiary ledgers:

Ester Cubero 7,206.00 - - 7,206.00
Jerome Ang 503,012.00 - - 503,012.00
JoelitoBaclayon 363,858.12 - - 363,858.12
Michael Llanos 2,400.00 107,835.00 - 110,235.00
Ronald
3,010,584.24 3,010,584.24
Malacora - -
Total 3,887,060.36 107,835.00 - 3,994,895.36
Textbooks and Instructional Materials Inventory
The balance of P 500,000.00 is composed of the following per subsidiary ledger:

Ronald Malacora 500,000.00 - - 500,000.00
500,000.00 - - 500,000.00
Military, Police and Traffic Supplies Inventory
The balance of P 722,000.00 is composed of the following per subsidiary ledger:
Special Education
Fund
Arnel Tancinco 722,000.00 - - 722,000.00
722,000.00 - - 722,000.00
Construction Materials Inventory
22
Special Education
Fund
Antonio Picson 904,042.20 - - 904,042.20
Celestino Orozco 3,549,495.66 - 602,000.00 4,151,495.66
Celso Oyardo 6,787,377.35 - 6,787,377.35
Ester Cubero 1,496,897.35 63,618.80 - 1,560,516.15
Jerome Ang 58,933.29 21,282.03 - 80,215.32
Jesus Sobisol 241,360.00 - - 241,360.00
Meyrick Balaga 9,103,187.00 9,103,187.00
Napoleon Bacus - 5,935,736.85 - 5,935,736.85
Norberto Montallana 11,464.10 - - 11,464.10
PascualGimenez 377,140.00 - - 377,140.00
Ronald Malacora 4,164,606.53 - - 4,164,606.53
For ID 37,060,351.95 58,595.00 806,704.35 37,925,651.30
Total 56,967,478.08 12,866,610.03 1,408,704.35 71,242,792.46
Other Supplies and Materials Inventory
Special
General
Particulars Education Trust Fund Total
Fund
Fund
Antonio Picson 2,004,916.64 - 23,547.00 2,028,463.64
Celestino Orozco - - - 0.00
Ester Cubero 1,865,237.45 - - 1,865,237.45
Jerome Ang 5,336,465.37 - - 5,336,465.37
Norberto Montallana - - 1,263,900.00 1,263,900.00
Ronald Malacora 7,449,303.52 14,288,000.00 - 21,737,303.52
For ID – Beginning
Balance 46,506,000.68 26,094.39 7,253,205.03 53,785,300.10
Total
63,161,923.66 14,314,094.39 8,540,652.03 86,016,670.08
Note 5 - Prepayments and Deferred Charges

Advances to Contractors 69,864,813.46 135,103,975.34
Other Prepayments 172,741.00 172,741.00
Total 70,037,554.46 135,276,716.34
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Note 6 - Property, Plant and Equipment

5,782,039,582.6 5,732,863,907.6
Land 1 1
64,959,435.4
Other Land Improvements 3 64,959,435.43
Accumulated Depreciation - Other Land (16,025,686.7 48,933,748.7 (13,203,684.6 51,755,750.7
Improvements 2) 1 4) 9
60,237,355.9
Flood Control System
4 807,477.53 -
Accumulated Depreciation - Flood Control (2,865,317.4 57,372,038.4 807,477.5
Systems 7) 7 - 3
1,783,861.7
Water Supply Systems
3 - 1,783,861.73 -
1,783,861.7 1,783,861.7
- 3 - 3
158,052,198.5
Road Networks 4 - 247,762.43 -
(6,933,114.3 151,119,084.2 247,762.4
Accumulated Depreciation - Road Networks 1) 3 - 3
5,957,333.3
Other Infrastructure Assets 8 - - -
Accumulated Depreciation - Other (342,609.0 5,614,724.3
Infrastructure Assets 0) 8 - -
1,075,484,840.7 1,060,651,953.6
Buildings 1 - 3 -
(180,299,286.0 895,185,554.6 (143,607,309.4 917,044,644.1
Accumulated Depreciation - Buildings 2) 9 9) 4
477,791,977.8 474,909,198.0
School Buildings 1 - 0 -
(145,338,216.4 332,453,761.3 (123,112,848.6 351,796,349.4
Accumulated Depreciation - School Buildings 4) 7 0) 0
31,773,968.1
Hospitals and Health Centers 6 - 30,517,268.73 -
Accumulated Depreciation - Hospitals and (9,184,248.0 22,589,720.1 (7,390,825.7 23,126,442.9
Health Centers 2) 4 4) 9
Markets 198,684,249.0 - 198,684,249.0 -
24
0 0
(43,754,249.6 154,929,999.3 (34,039,504.7 164,644,744.2
Accumulated Depreciation - Markets 6) 4 7) 3
4,736,469.6
Slaughterhouses 4 - 4,736,469.64 -
(1,727,409.1 3,009,060.5 (1,459,773.0 3,276,696.6
Accumulated Depreciation - Slaughterhouses 2) 2 2) 2
88,244,760.2
Other Structures 0 - 75,893,017.43 -
(24,761,057.9 63,483,702.2 (20,292,625.1 55,600,392.3
Accumulated Depreciation - Other Structures 6) 4 3) 0
7,017,350.0
Machinery 8 - 7,017,350.08 -
(4,504,129.5 2,513,220.5 (4,504,129.5 2,513,220.5
Accumulated Depreciation - Machinery 8) 0 8) 0
293,635,931.6 291,864,470.8
Office Equipment 4 - 9 -
(64,359,470.4 229,276,461.2 (57,801,929.3 234,062,541.5
Accumulated Depreciation - Office Equipment 2) 2 6) 3
Information and Communication Technology 247,750,157.8 242,289,997.8
Equipment 8 - 8 -
Accumulated Depreciation - Information and (175,151,330.1 72,598,827.7 (153,382,653.4 88,907,344.4
Communication Technology Equipment 4) 4 7) 1
18,916,303.5
Agricultural and Forestry Equipment 0 - 18,357,103.50 -
Accumulated Depreciation - Agricultural and (13,354,595.4 5,561,708.0 (12,375,853.0 5,981,250.4
Forestry Equipment 6) 4 5) 5
44,106,043.3
Communication Equipment 1 - 43,566,303.31 -
Accumulated Depreciation - Communication (24,310,783.7 19,795,259.5 (22,381,694.6 21,184,608.6
Equipment 9) 2 3) 8
211,075,892.5 192,195,892.5
Construction and Heavy Equipment 9 - 9 -
Accumulated Depreciation - Construction and (58,560,281.5 152,515,611.0 (42,804,172.4 149,391,720.1
Heavy Equipment 5) 4 1) 8
231,102,050.5 172,514,536.5
Disaster Response and Rescue Equipment 1 - 1 -
25
Accumulated Depreciation - Disaster (45,576,909.8 185,525,140.7 (25,914,940.5 146,599,596.0
Response and Rescue Equipment 1) 0 0) 1
7,512,207.4
Military, Police and Security Equipment 2 - 7,512,207.42 -
Accumulated Depreciation - Military, Police (6,483,520.5 1,028,686.8 (6,331,533.9 1,180,673.4
and Security Equipment 8) 4 8) 4
99,902,687.9
Medical Equipment
0 - 98,387,762.90 -
Accumulated Depreciation - Medical (53,969,340.3 45,933,347.5 (45,960,530.2 52,427,232.6
Equipment 3) 7 5) 5
15,641,288.0
Sports Equipment 0 - 15,557,588.00 -
Accumulated Depreciation - Sports (7,267,523.0 8,373,764.9 (5,599,204.1 9,958,383.8
Equipment 4) 6 6) 4
88,728,927.8
Technical and Scientific Equipment 4 - 88,728,927.84 -
Accumulated Depreciation - Technical and (14,530,469.0 74,198,458.8 (13,435,363.1 75,293,564.6
Scientific Equipment 0) 4 7) 7
53,150,198.2
Other Machinery and Equipment 0 - 51,881,888.20 -
Accumulated Depreciation - Other Machinery (31,533,387.1 21,616,811.0 (28,546,842.8 23,335,045.3
and Equipment 4) 6 5) 5
1,074,277,694.2 998,725,420.2
Motor Vehicles 2 - 2 -
(595,115,304.1 479,162,390.0 (508,276,766.3 490,448,653.8
Accumulated Depreciation - Motor Vehicles 5) 7 9) 3
4,261,885.0
Watercrafts 0 - 4,261,885.00 -
(2,704,156.6 1,557,728.3 (2,507,120.8 1,754,764.1
Accumulated Depreciation - Watercrafts 8) 2 8) 2
6,243,205.5
Other Transportation Equipment 0 - 6,243,205.50 -
Accumulated Depreciation - Other (3,355,201.7 2,888,003.7 (3,354,139.7 2,889,065.7
Transportation Equipment 5) 5 5) 5
75,708,746.7
Furniture and Fixtures 8 - 64,703,098.58 -
Accumulated Depreciation - Furniture and (26,946,568.0 48,762,178.7 (23,104,011.6 41,599,086.9
Fixtures 1) 7 8) 0
26
10,660,885.0
Books 5 - 10,660,885.05 -
(1,755,533.4 8,905,351.6 (1,755,533.4 8,905,351.6
Accumulated Depreciation - Books 2) 3 2) 3
1,624,420.8
Leased Assets Improvements, Buildings 0 - 1,624,420.80 -
1,624,420.8 1,624,420.8
- 0 - 0
Construction in Progress - Land 46,327,882.4 47,984,922.4
Improvements - 3 - 1
Construction in Progress - Infrastructure 449,353,493.5 401,749,244.1
Assets - 9 - 5
Construction in Progress - Buildings and 660,906,103.4 469,842,627.2
Other Structures - 6 - 1
Work/Zoo Animals 94,800.00 - 94,800.00 -
94,800.0
- 94,800.00 - 0
142,603,535.3 140,303,685.3
Other Property, Plant and Equipment
5 - 5 -
Accumulated Depreciation - Other Property, (53,097,973.5 89,505,561.7 (47,192,651.8 93,111,033.5
Plant and Equipment 7) 8 3) 2
10,126,540,051.0 9,673,787,181.8
Total 6 0
27
Land
The balance of P 5,782,039,582.61 is composed of the following per subsidiary ledgers:
Special
Fund
Lots Intended for Public
295,973,278.28 - - 295,973,278.28
Purpose
Patrimonial Lots
4,913,115,869.97 - - 4,913,115,869.97
(Disposable Lots)
Beginning Balance 365,350,927.09 4,034,642.85 152,489,189.42 521,874,759.36
For ID– Lot# 15142
1,900,000.00 - - 1,900,000.00
Decree# N-210224
Balance end, December 5,576,340,075.3 4,034,64 152,489,189.
31, 2016 4 2.85 42 5,732,863,907.61
49,175,675.0 49,175,675.0
Additions* 0 - - 0
- -
Disposals - -
Balance end, December
5,625,515,750.34 4,034,642.85 152,489,189.42 5,782,039,582.61
31, 2017
*Additions during the year substantially consists of Cash Purchases and Transfer of asset from
other fund. These lots are located within Cebu City.
The balance of P 4,034,642.85 and P 152,489,189.42 as reflected in the Statement of Financial

Position of Special Education Fund and Trust Fund, respectively, pertain to the amounts set up
as beginning balance in 2006 when the electronic new government accounting system was
implemented.
Land Improvements
The balance of P 64,959,435.43 as reflected in the Statement of Financial Position is composed

of the following per subsidiary ledgers:
Special
Fund
Landscaping, Beautification &
Site Development 2,363,989.87 - - 2,363,989.87
Parking Lane 32,497.25 - - 32,497.25
Landscaping Of Rizal
Memorial Library And
Museum Building 104,545.00 - - 104,545.00
Kawit White Sand Beach 31,355,578.00 - - 31,355,578.00
Beginning Balance 7,494,418.99 - - 7,494,418.99
For ID - Accumulated
Depreciation(Beginning) 5,390.00 - - 5,390.00
For ID - Beginning Balance 464,821.00 593,099.17 459,071.80 1,516,991.97
SRP Project And
Development 22,086,024.35 - - 22,086,024.35
28
Balance end, December 31,
2016 63,907,264.46 593,099.17 459,071.80 64,959,435.43
Additions - - - -
Disposals - - - -
Balance end, December 31,
2017 63,907,264.46 593,099.17 459,071.80 64,959,435.43
The amounts of P 593,099.17 and P 459,071.80 as reflected in the Financial Position of Special
Education Fund and Trust Fund, respectively, pertain to the amounts set up as beginning balance
in 2006 when the electronic new government accounting system was implemented.
Accumulated Depreciation- Land Improvements
Accumulated depreciation accounts maintain no subsidiary ledgers in the system. The balance as
of December 31, 2017 is P 15,923,457.78 as reflected in the Statement of Financial Position of
General Fund.
The balance of P 102,228.94 as reflected in the Statement of Financial Position of Special

Education Fund pertains to the beginning balance set up in 2006 when the electronic new
government accounting system was implemented.
Road Networks
The balance of P 158,052,198.54 reflected in the Statement of Financial Position is composed of

the following per subsidiary ledgers:
Special
Fund
Bridges 13,774,908.84 - - 13,774,908.84
Roads 144,029,527.27 - - 144,029,527.27
Beginning - For ID - - 247,762.43 247,762.43
Balance end,
157,804,436.11 - 247,762.43 158,052,198.54
December 31, 2017
Accumulated Depreciation – Road Networks

General Fund.
The balance of P 247,762.43 as reflected in the Statement of Financial Position of Trust Fund
pertains to the beginning balance set up in 2006 when the electronic new government accounting
29
Flood Control Systems

Special
Fund
Drainage 17,445,033.94 - - 17,445,033.94
Grouted Riprap 2,016,716.56 - - 2,016,716.56
Others 9,077,596.86 - - 9,077,596.86
River Walls 918,933.62 - - 918,933.62
Seawalls 29,971,597.43 - - 29,971,597.43
Beginning Balance - - 807,477.53 807,477.53
Balance end,
December 31, 2017 59,429,878.41 - 807,477.53 60,237,355.94
Accumulated Depreciation – Flood Control Systems
General Fund.
The balance of P 807,477.53 as reflected in the Statement of Financial Position of Trust Fund
Water Supply Systems
The balance of P 1,783,861.73 as reflected in the Statement of Financial Position of Trust Fund
Other Infrastructure Assets

the following per subsidiary ledger of General Fund:
Particulars Amount
List of Other Infrastructure Assets - Establishment of Materials & Recovery Facility
(MRF) & Nature 1,989,933.38
List of Other Infrastructure Assets - Supply of Traffic signs 3M High Grade Density
Sheeting Along O 1,984,200.00
List of Other Infrastructure Assets - Supply of Traffic signs 3M High Grade Density
Sheeting Along V 1,983,200.00
Balance end, December 31, 2017 5,957,333.38
30
Accumulated Depreciation – Other Infrastructure Assets
of December 31, 2017 is P 342,609.00.
Buildings
The balance of P 1,075,484,840.71 reflected in the Statement of Financial Position is composed

Special
Education Fund
Office Buildings 55,532,241.38 - - 55,532,241.38
Multipurpose
414,205,071.65 1,393,898.11 - 415,598,969.76
Buildings
Perimeter Fence - - - -
Beginning
Balance 308,536,934.49 221,266,648.08 59,717,159.92 589,520,742.49
Balance end,
December 31, 778,274,247.52 222,660,546.19 59,717,159.92 1,060,651,953.63
2016
Additions 14,832,887.08 - - 14,832,887.08
Disposals - - - -
Balance end,
December 31, 793,107,134.60 222,660,546.19 59,717,159.92 1,075,484,840.71
2017
Accumulated Depreciation-Buildings
Accumulated depreciation accounts maintain no subsidiary ledgers in the system. The balances as
of December 31, 2017 as reflected in the Statement of Financial Position of General Fund and
Special Education Fund amounted to P 179,568,511.74 and P 730,774.28, respectively.
School Buildings

Special Trust
Particulars General Fund Total
Education Fund Fund
Elementary Schools 20,005,005.33 173,780,710.04 - 193,785,715.37
Secondary Schools 6,672,679.33 64,287,078.78 - 70,959,758.11
North - 779,000.00 - 779,000.00
Beginning Balance 178,656,013.14 30,215,768.48 6,756.00 208,878,537.62
Repair and Maintenance
- School Buildings - 486,186.90 - 486,186.90
Balance end, 205,333,697. 6,7 474,909,198.
December 31, 2016 80 269,568,744.20 56.00 00
Additions - 2,882,779.81 - 2,882,779.81
Disposals - - - -
Balance end, 205,333,697. 6,7 477,791,977.
December 31, 2017 80 272,451,524.01 56.00 81
31
The amount of P 6,756.00 as reflected in the Statement of Financial Position of Trust Fund pertains
to the amount set up as beginning balance in 2006 when the electronic new government accounting
Accumulated Depreciation-School Buildings
Accumulated depreciation accounts maintain no subsidiary ledgers in the system. The balances as
of December 31, 2017 as reflected in the Statement Financial Position of General Fund and Special
Education Fund amounted to P 23,378,086.91 and P 121,960,129.53, respectively.
Hospitals and Health Centers
The balance of P 31,773,968.16 as reflected in the Statement of Financial Position is composed of

the following per subsidiary ledgers for General Fund:
Particulars General Fund

Hospitals 7,355,602.33
Health Centers 7,958,610.28
Beginning Balance - For ID 15,203,056.12
Balance End, December 31, 2016 30,517,268.73
Additions *1,256,699.43
Disposals -
Balance End, December 31, 2017 31,773,968.16
*Additions during the year include rehabilitation of barangay health centers located at Brgy.
Budlaan, Mabolo and Hipodromo amounting to P 266,866.98, P 667,120.99 and P 322,711.46,
respectively.
Accumulated Depreciation - Hospitals and Health Centers
of December 31, 2017 is P 9,184,248.02 as reflected in the Statement of Financial Position.
Markets

of the following per subsidiary ledgers for General Fund:
Particulars Amount
Market - Main 51,534,824.72
Market - Satellite 4,088,632.65
Beginning Balance - For ID 143,060,791.63
Additions -
Disposals -
Accumulated Depreciation – Markets
of December 31, 2017 is P 43,754,249.66.
32
Slaughterhouses

the following per subsidiary ledgers for General Fund:
Particulars Amount
Slaughterhouse 2,170,785.77
Beginning Balance 2,565,683.87
Additions -
Disposals -
Accumulated depreciation – Slaughterhouses
Accumulated depreciation accounts maintain no subsidiary ledgers in the system . The balance as
of December 31, 2017 is P 1,727,409.12.
Other Structures
The balance of P 88,244,760.20 as reflected in the Financial Position is composed of the following
per subsidiary ledgers:
Special
Trust
Particulars General Fund Education Total
Fund
Fund
Toilet 11,114,435.36 - - 11,114,435.36
Stage 2,509,429.22 - - 2,509,429.22
Fence 23,940,060.88 - - 23,940,060.88
Covered Court 1,322,908.51 - - 1,322,908.51
ABC Fountain (SRP
5,951.40 - - 5,951.40
Development)
Easement 476,485.40 - - 476,485.40
Police Office 2,971,158.96 - - 2,971,158.96
Post Railings 795,393.34 - - 795,393.34
Stairs 175,820.00 - - 175,820.00
Beginning Balance 30,196,287.25 342,456.30 2,038,490.81 32,577,234.36
For ID - Beginning Balance 4,140.00 - - 4,140.00
Balance End, December
73,512,070.32 342,456.30 2,038,490.81 75,893,017.43
31, 2016
Additions 12,355,882.77 - - 12,355,882.77
Disposals (4,140.00) - - (4,140.00)
Balance End, December
85,863,813.09 342,456.30 2,038,490.81 88,244,760.20
31, 2017
Accumulated Depreciation - Other Structures
of December 31, 2017 as reflected in the Statement of Financial Position of General Fund and
33
Machinery
The balance of P 7,017,350.08 as reflected in the Statement of Financial Position comprises

beginning balance set up on February 28, 2006 when the electronic new government accounting
Trust
Particulars General Fund Special Education Fund Fund Total
Beginning Balance 6,868,953.80 15,636.28 132,760.00 7,017,350.08
Accumulated Depreciation – Machinery
of December 31, 2017 as reflected in the Statement of Financial Position of General Fund
amounted to P 4,504,129.58.
Office Equipment
The balance of P 293,635,931.64 as reflected in the Financial Position is composed of the following
per subsidiary ledgers:
Special
Particulars General Fund Education Fund Trust Fund Total
Office
Equipment 37,649,017.17 1,870,390.00 420,000.00 39,939,407.17
Janitorial 1,178,390.0
- - 1,178,390.00
Equipment 0
31,193,656.9 110,276.0 31,347,932.9
44,000.00
Appliances 1 0 1
Accumulated
(183,791.59 (183,791.59
Depreciation - -
) )
Beginning
Beginning 73,074,794.6 127,460,173.1
Balance 2 18,248,327.26 3 218,783,295.01
PIS # 145765
Prop. # 038-
51,000.00
1718 Serial #
526549 Japan 51,000.00 - -
PIS # 145765
Prop. # 038-
51,000.00
1719 Serial #
- -
526551 Japan 51,000.00
Balance End,
143,197,858.7 20,045,201.6 127,924,173.1 291,167,233.5
December 31,
0 7 3 0
2016
1,111,710.7 480,000.0 659,750.0
2,251,460.75
Additions 5 0 0
Disposals - - -
Balance End, 144,309,569.4 20,525,201.6 128,583,923.1
December 31, 5 7 3 293,418,694.25
34
2017
The differences of P 217,237.39 between amounts per Statement of Financial Position and per
schedule of subsidiary ledger balances of Special Education Fund is due to system error. The
system erroneously generated amounts in the subsidiary ledger starting 2007 without any basis.
Accumulated Depreciation - Office Equipment
of December 31, 2017 is P 62,139,904.29 and P 2,219,566.13 reflected in the Statement of
Financial Position of General Fund and Special Education Fund, respectively.
Information and Communication Technology Equipment

Special
Computers 104,476,641.30 6,636,160.00 120,000.00 111,232,801.30
Printers 14,324,197.08 879,270.00 - 15,203,467.08
Software 38,079,857.56 111,180.00 - 38,191,037.56
Other Computer
6,488,302.32 8,436,938.00 - 14,925,240.32
Peripherals
Workstation 119,650.00 - - 119,650.00
Networking
21,501,418.16 - 22,208,868.16
Devices 707,450.00
Server Cabinet 51,000.00 - 51,000.00
Thinclient 1,620,600.00 6,680,000.00 - 8,300,600.00
Beginning
20,604,096.76 23,788,422.18
Balance 401,621.22 2,782,704.20
For Id - Beginning
8,013,500.00 - - 8,013,500.00
Balance
Balance end,
December 31, 215,279,263.18 23,852,619.22 2,902,704.20 242,034,586.60
2016
Additions 5,460,160.00 172,000.00 - 5,632,160.00
Disposals - (48,700.00) - (48,700.00)
Balance end,
December 31, 220,739,423.18 23,975,919.22 2,902,704.20 247,618,046.60
2017
The difference of P 132,111.28 between amounts per Balance Sheet and per schedule of
Subsidiary Balance of Special Education Fund is due to system error. The system erroneously
generated amounts in the Subsidiary Ledger starting 2007 without any basis.
35
Accumulated Depreciation - Information and Communication Technology Equipment
Accumulated depreciation accounts maintain no subsidiary ledgers in the system. The balances
as of December 31, 2017 as reflected in the Statement of Financial Position of General Fund and
Special Education Fund amounted to P 154,577,598.63 and P 20,573,731.51, respectively.
Agricultural and Forestry Equipment

Special
Educatio
Particulars General Fund n Fund Trust Fund Total
Veterinary 4,130,225.00 - - 4,130,225.00
12,281.0
8,970,566.00 - 8,982,847.00
Agricultural 0
12,930.0
5,030,496.50 - 5,043,426.50
Forestry 0
Beginning Balance 6,190.00 - 194,415.00 200,605.00
Balance end, December 31, 25,211.0
18,137,477.50 194,415.00 18,357,103.50
2016 0
Additions 559,200.00 - 360,000.00 919,200.00
(360,000.00 (360,000.00
- -
Disposals ) )
Balance end, December 31, 25,211.0
18,696,677.50 194,415.00 18,916,303.50
2017 0
Accumulated Depreciation – Agricultural and Forestry Equipment
Communication Equipment

Special
Fund
Landline 30,540.00 - - 30,540.00
Wireless 25,005,926.62 - - 25,005,926.62
Transmitter/Receiver 2,139,800.00 - - 2,139,800.00
Video Splitter 5,800.00 - - 5,800.00
Accumulated
- (7,500.00) - (7,500.00)
Depreciation (Beginning)
36
Balance end,
39,467,519.12 398,747.99 3,687,536.20 43,553,803.31
December 31, 2016
Additions 539,740.00 - - 539,740.00
Disposals - - - -
Balance end,
40,007,259.12 398,747.99 3,687,536.20 44,093,543.31
December 31, 2017
The difference of P 12,500.00 between amounts per Statement of Financial Position and per
Subsidiary Ledger Balance of Special Education Fund is due to system error. The system
erroneously generated amounts in the subsidiary ledger starting 2007 without any basis.
Accumulated Depreciation – Communication Equipment
Accumulated depreciation accounts maintain no subsidiary ledgers in the system. The balance
Construction and Heavy Equipment

of the following per subsidiary ledger balances:
Special
Particulars General Fund Education Total
Fund
Dozer 9,640,000.00 - 9,640,000.00
Excavator 32,024,000.00 - 32,024,000.00
Forklift 1,126,125.00 - 1,126,125.00
Loader 70,784,089.00 - 70,784,089.00
Road Compactor 9,360,000.00 - 9,360,000.00
Road Grader 1,245,000.00 - 1,245,000.00
Trailer 2,980,000.00 - 2,980,000.00
Road Roller 3998000 - 3998000
Beginning Balance 55,715,315.59 533,363.00 56,248,678.59
PIS 145612 Prop. # 115-1287 Chassis
# SW40-30349 Engine # 3AD1-1- - - -
573149
Vibratory Combined Roller TG 850,000.00 - 850,000.00
# TW41-VTWZ-12119 Engine # 4FE1- - - -
553319
Vibratory Combined Roller 850,000.00 - 850,000.00
- - -
# TGAO-30008 Engine # 315D2-11815
Vibratory Combined Roller TG40 850,000.00 - 850,000.00

Sand Separator with Conveyor System
2,240,000.00 - 2,240,000.00
0280967
Balance end, December 31, 2016 191,662,529.59 533,363.00
37
192,195,892.59
Additions 18,880,000.00 - 18,880,000.00

Disposals - - -
Balance end, December 31, 2017 210,542,529.59 533,363.00 211,075,892.59
Accumulated Depreciation – Construction and Heavy Equipment
Disaster Response and Rescue Equipment

Special
Fund
Earthquake
Rescue 24,690,000.00 - - 24,690,000.00
Equipment
Fire Extinguisher 7,278,494.50 7,200.00 1,900.00 7,287,594.50
Fire Alarm
- 25,520.00 - 25,520.00
Equipment
Safety Belt - - - -
Fire Suits - - - -
Fire Hose - - - -
Accessories - - - -
Others 72,507,639.75 - 346,450.00 72,854,089.75
Vehicles - - - -
Flood Rescue
7,507,702.00 - - 7,507,702.00
Equipment
Press Shop - - - -
Beginning
54,095,970.48 143,580.08 5,910,079.70 60,149,630.26
Balance
For ID -
Beginning - - - -
Balance
Balance end,
December 31, 166,079,806.73 176,300.08 6,258,429.70 172,514,536.51
2016
Additions 58,634,264.00 - - 58,634,264.00
Disposals - - (46,750.00) (46,750.00)
Balance end,
December 31, 224,714,070.73 176,300.08 6,211,679.70 231,102,050.51
2017
38
Accumulated Depreciation – Disaster Response and Rescue Equipment
Military, Police and Security Equipment

the following per subsidiary ledger of General Fund:

Firearms 1,688,740.10
Additions -
Disposals -
Accumulated Depreciation – Military, Police and Security Equipment
Accumulated depreciation accounts maintain no subsidiary ledgers in the system. The balance
as of December 31, 2017 as reflected in the Statement of Financial Position of General Fund
Medical Equipment

Special
Fund
Hospital Equipment 31,941,646.00 - 260,000.00 32,201,646.00
Beginning Balance -
691,129.04 - - 691,129.04
Hospital Equipment
Medical, Dental and
56,565,332.50 100,000.00 56,792,222.50
Laboratory Equipment 126,890.00
7,937,165.
Beginning Balance 61,599.59 - 7,998,765.36
77
Laboratory Equipment
704,000.00 - - 704,000.00
(Maintenance)
39
89,963,707.13 100,000.00 8,324,055.77 98,387,762.90
31, 2016
Additions 1,444,415.00 - 853,000.00 2,297,415.00
Disposals - - -782,490.00 -782,490.00
91,408,122.13 100,000.00 8,394,565.77 99,902,687.90
31, 2017
Accumulated Depreciation – Medical Equipment
Sports Equipment

Special
Education
Fund
Scoreboard 2,933,770.00 - - 2,933,770.00

Basketball Board 2,946,450.00 - - 2,946,450.00
Basketball Goal 8,699,500.00 - - 8,699,500.00
Landing Foam 348,800.00 - - 348,800.00
Beginning Balance - 83,700.00 629,068.00 712,768.00
Balance end,
14,928,520.00 83,700.00 629,068.00 15,641,288.00
December 31, 2016
Additions - - - -
Disposals - - - -
Balance end,
14,928,520.00 83,700.00 629,068.00 15,641,288.00
December 31, 2017
Accumulated Depreciation – Sports Equipment
of December 31, 2017 as reflected in the Statement of Financial Position of General Fund
Technical and Scientific Equipment

Special
Education Fund
40
PH Meter 26,000.00 - - 26,000.00
Balances 149,620.00 118,597.50 - 268,217.50
Surveying Equipment 807,000.00 - - 807,000.00
Dissolve Oxygen (DO)
38,500.00 - - 38,500.00
Meter
Conductivity Meter 56,000.00 - - 56,000.00
Vehicle Exhaust
2,160,000.00 - - 2,160,000.00
Analyzer
Burette 10,872.00 - - 10,872.00
Air Quality Monitor 5,060,000.00 - - 5,060,000.00
Microscope - 204,750.00 - 204,750.00
Water Quality Analyzer 808,888.00 - - 808,888.00
Balance end,
70,638,222.22 12,950,699.83 5,140,005.79 88,728,927.84
December 31, 2016
Additions - - - -
Disposals - - - -
Balance end,
70,638,222.22 12,950,699.83 5,140,005.79 88,728,927.84
December 31, 2017
Accumulated Depreciation – Technical and Scientific Equipment
41
Other Machinery and Equipment
The balance of P 53,150,198.20 as reflected in the Statement of Financial Position is composed of the following per subsidiary ledgers:
Special Education
Fund
ABATTOIR Utilities 541,860.00 - - 541,860.00
Adjustable wrench 18" CRESCENT US 3,799.00 - - 3,799.00
Air Compressor 4,130,909.00 - - 4,130,909.00
Aircon Repair Tool 976,000.00 - 976,000.00
Automatic Transfer Switch 236,735.00 - - 236,735.00
Bag Closer 85,575.00 - - 85,575.00
Bench Vice 5" Japan 3,999.00 - - 3,999.00
Buffer Machine 10,670.00 - - 10,670.00
Chain Block 21,000.00 - - 21,000.00
Chain Block/Hoist 282,299.00 - - 282,299.00
Chipping Hammer 31,500.00 - - 31,500.00
Circuit Breaker 91,092.00 - - 91,092.00
Combination Wrench 6mm-30mm 3,400.00 - - 3,400.00
Concrete Mixer 216,600.00 - - 216,600.00
Crane Machine - 125,000.00 - 125,000.00
Cutter 938,251.60 77,242.90 - 1,015,494.50
Drill 502,337.72 262,327.32 - 764,665.04
Drill bit (1/16-1/2) DORMER US 29 pcs 3,490.00 - - 3,490.00
Electric Motor 181,980.00 - - 181,980.00
Electrical Testing Machines 121,587.40 - - 121,587.40
Elevator - 2,300,000.00 - 2,300,000.00
FOR ID - Beginning Balance 91,100.00 - - 91,100.00
FOR ID - FOR RECLASS 238,956.00 - - 238,956.00
Generator 17,006,433.00 - - 17,006,433.00
Grinder 667,679.75 55,514.00 - 723,193.75
High Pressure Washer 402,457.80 - - 402,457.80
High Pressure Water Cleaner 1200 psi max complete with
45,000.00 - - 45,000.00
accessories
Hydraulic Bearing Puller 182,614.50 - - 182,614.50
Hydraulic Jack (10-30 ton) 34,500.00 - - 34,500.00
Jack Hammer 458,095.20 - - 458,095.20
42
Lifter 1,045,000.00 - 1,045,000.00
LPG Torch 3,600.00 - - 3,600.00
Manual Tools 2,023,238.90 235,704.00 6,150.00 2,265,092.90
Material Testing Machines 42,000.00 - - 42,000.00
Mechanical puller 3 fingers/arm 12" heavy duty Germany 3,850.00 - - 3,850.00
Mistblower 201,344.00 - - 201,344.00
Multi Tester 7,538.00 - - 7,538.00
Oscilloscope 28,000.00 - 28,000.00
Oxy-Acetylene Welding Outfit Complete with accessories
9,000.00 - - 9,000.00
Tanaka-Japan 0551252
Plastic Densifier 160,000.00 - - 160,000.00
Plate Compactor 46,777.50 - - 46,777.50
Plier 9,800.00 - - 9,800.00
Portable Grinder Bosch 0551251 3,180.00 - - 3,180.00
Prism 15,900.00 - - 15,900.00
Pumps 4,948,312.70 169,220.00 - 5,117,532.70
Saw 1,706,660.40 68,962.00 - 1,775,622.40
Soldering Gun Heavy Duty - Taiwan 100 watts 0551253 950.00 - - 950.00
Spray Gun 21,230.00 - - 21,230.00
Surge Protector 45,000.00 - - 45,000.00
Surveying Equipment 11,800.00 285,000.00 - 296,800.00
Tamping Rammer 128,700.00 - 128,700.00
Testing Machine 7,980.00 7,980.00
Tire Changer 1,104,000.00 - - 1,104,000.00
Tork Blower 29,680.00 - - 29,680.00
Transformer 77,000.00 - - 77,000.00
Welding Machine 616,321.60 90,941.00 - 707,262.60
Wood Planer 31,682.00 44,756.80 - 76,438.80
Balance end, December 31, 2016 47,155,432.18 3,874,348.02 1,426,665.00 52,456,445.20
Additions 693,753.00 - - 693,753.00
Disposals - - - -
Accumulated Depreciation – Other Machinery and Equipment
43
Accumulated depreciation accounts maintain no subsidiary ledgers in the system. The balances as of December 31, 2017 as reflected in
the Statement of Financial Position of General Fund and Special Education Fund amounted to P 29,193,037.59 and P 2,340,349.55,
respectively.
44
Motor Vehicles
The balance of P 1,074,277,694.22 as reflected in the Statement of Financial Position is composed of

Special
Trucks 310,565,486.02 - - 310,565,486.02
Service Vehicles 360,084,397.47 - - 360,084,397.47
Buses 37,636,000.00 - - 37,636,000.00
Motorcycles 15,403,268.54 - - 15,403,268.54
Accumulated
Depreciation - -38,674.28 - -38,674.28
(Beginning)
For ID - Beginning
- - - -
Balance
Motor Vehicle
- - - -
(Maintenance)
Balance end,
988,997,482.43 1,626,084.65 8,079,636.00 998,703,203.08
December 31, 2016
Additions 75,552,274.00 - 2,465,000.00 78,017,274.00
Disposals - - -2,465,000.00 -2,465,000.00
Balance end,
1,064,549,756.43 1,626,084.65 8,079,636.00 1,074,255,477.08
December 31, 2017
The difference of P 22,217.14 between amounts per Statement of Financial Position and per schedule
of subsidiary ledger balance of Special Education Fund is due to system error. The system erroneously
generated amounts in the subsidiary ledger starting 2007 without any basis.
Accumulated Depreciation – Motor Vehicles
Accumulated depreciation accounts maintain no subsidiary ledgers in the system. The balances as of
December 31, 2017 as reflected in the Statement of Financial Position of General Fund and Special
Education Fund amounted to P 595,011,434.51 and P 103,869.64, respectively.
Watercrafts
The balance of P 4,261,885.00 as reflected in the Statement of Financial Position is composed of the
following subsidiary ledger for General Fund:

Pump Boat 1,120,000.00
Flat Bottom Plastic Boat 599,200.00
Outboard Motor 633,000.00
Additions -
Disposals -
45
Accumulated Depreciation – Watercrafts
Accumulated depreciation accounts maintain no subsidiary ledgers in the system. The balance as of
December 31, 2017 as reflected in the Statement of Financial Position of General Fund amounted to P
2,704,156.68.
Other Transportation Equipment
following per subsidiary ledgers:
Special
Fund
Wheel Barrow 104,675.50 - - 104,675.50
Steel Buggy 137,600.00 - - 137,600.00
Push Cart 87,809.00 6,338.00 - 94,147.00
Garbage Bin 1,836,000.00 - - 1,836,000.00
Trolley 24,973.00 - - 24,973.00
Bike 4,045,810.00 - - 4,045,810.00
Balance end, December 31, 2016 6,236,867.50 6,338.00 - 6,243,205.50
Additions - - - -
Disposals - - - -
Balance end, December 31, 2017 6,236,867.50 6,338.00 - 6,243,205.50
Accumulated Depreciation – Other Transportation Equipment
Furniture and Fixtures
following per subsidiary ledgers:
Special
Education Fund
Furniture 27,062,259.47 307,555.00 36,000.00 27,405,814.47
Fixtures 2,106,469.00 9,440.00 - 2,115,909.00
For ID - Beginning
- - - -
Balance
51,122,503.87 11,150,395.50 2,430,199.21 64,703,098.58
31, 2016
Additions 10,930,448.20 - 75,200.00 11,005,648.20
Disposals - - - -
62,052,952.07 11,150,395.50 2,505,399.21 75,708,746.78
31, 2017
46
Accumulated Depreciation - Furniture and Fixtures
Books
The balance of P 10,660,885.05 as reflected in the Statement of Financial Position of General Fund is
composed of the following per subsidiary ledgers:
Special Education
General Fund Trust Fund Total
Particulars Fund
Various Books 486,917.00 1,337,280.00 - 1,824,197.00
Beginning Balance 539,278.05 7,966,285.00 331,125.00 8,836,688.05
Balance end,
December 31, 1,026,195.05 9,303,565.00 331,125.00 10,660,885.05
2016
Additions - - - -
Disposals - - - -
Balance end,
December 31, 1,026,195.05 9,303,565.00 331,125.00 10,660,885.05
2017
Accumulated Depreciation - Books
Accumulated depreciation accounts maintain no subsidiary ledgers in the system. The balance as of
Education Fund amounted to P 453,104.42 and 1,302,429.00, respectively.
Leased Assets Improvements, Buildings
The balance of lease assets improvements , buildings, amounting to P 1,624,420.80 represents amount
incurred for the renovation of COMELEC Office located at G/F WDC Building, Osmeña Blvd., Brgy. Sto.
Niño, Cebu City.
Work / Zoo Animals
The balance of P 94,800.00 as reflected in the balance sheet is composed of the beginning balance set
up in February 2006.
47
Other Property, Plant and Equipment

Property 39,476,402.70 2,849,664.60 - 42,326,067.30
Plant 5,416,527.14 392,120.00 - 5,808,647.14
Accumulated Depreciation (Beginning) - -8,053.20 - -8,053.20
For ID - Wheel Tire Clamp 900,000.00 - - 900,000.00
For ID - L.M. Ground Railings 285,760.00 - - 285,760.00
Other Assets 11,917,900.00 - - 11,917,900.00
Lego Renewable Energy - 40,500.00 - 40,500.00
Lego Team Challenge Set - 315,000.00 - 315,000.00
Additions 2,299,850.00 - - 2,299,850.00

Disposals - - - -
The difference of P 24,913.80 between amounts per Statement of Financial Position and per schedule of subsidiary ledger balances of
Special Education Fund is due to system error. The system erroneously generated amounts in the subsidiary ledger starting 2007 without
any basis.
48
Note 7 - Biological Assets
Breeding Stocks 88,300.00 88,300.00

88,300.00 88,300.00
Note 8 - Financial Liabilities – Current

Accounts Payable 1,018,861,064.83 890,370,925.75
Due to Officers and Employees 27,138,479.56 66,007,938.81
Total 1,045,999,544.39 956,378,864.56
Note 9 - Inter-Agency Payables

Due to BIR 24,872,475.48 20,237,440.26
Due to GSIS 45,539,109.53 40,174,440.58
Due to PAG-IBIG 6,109,190.88 5,883,165.96
Due to PHILHEALTH 5,708,002.21 5,280,801.28
Due to NGAs 1,024,705,527.99 606,241,140.54
Due to GOCCs 183,285.35 183,285.35
Due to LGUs 340,308,781.00 327,293,325.48
Total 1,447,426,372.44 1,005,293,599.45
The first four accounts represent the amount deducted from the salaries of officials and employees
and is remitted to the respective government agencies immediately on the month following the
month for which these were deducted. The remaining accounts represents balances of funds
received by the LGU for specific purposes.
Note 10 - Intra-Agency Payables

Due to Other Funds 290,492,212.85 245,079,376.19
Due to Special Accounts 2,694,982,542.06 1,416,023,884.86
Due to Local Economic Enterprises 344,043,477.43 1,402,358,389.39
Total 3,329,518,232.34 3,063,461,650.44
49
Note 11 - Trust Liabilities

Trust Liabilities 175,760,643.81 96,444,663.73
Trust Liabilities - Disaster Risk Reduction and
Management Fund 327,886,214.52 226,486,833.84
Guaranty/Security Deposits Payable 212,825,614.13 205,827,995.96
Total 716,472,472.46 528,759,493.53
Note 12 - Financial Liabilities – Non-Current
Loans Payable - Foreign 2,121,624,640.00 2,294,009,640.00

2,121,624,640.00 2,294,009,640.00
Repayment of Loans payable including interest shall be repaid in accordance with the
amortization schedule of the OECF Loan. The amount of ¥299,800,000.00 (yen) representing
principal repayment shall be made semi-annually including interest. The Interest shall accrue and
be payable semi-annually in arrears to start at the end of the first semester of the date of initial
drawdown.
The Loan shall bear an interest rate of a net spread of two percent (2%) per annum overall
cost to Lender, OECF pass-on rate of 2.7% for civil works and 2.3% for consulting services.
Note 13 - Deferred Credits / Unearned Income

Deferred Real Property Tax 599,614,213.28 439,316,265.88
Other Deferred Credits 15,119,124,807.32 15,454,429,807.22
Total 15,718,739,020.60 15,893,746,073.10
Note 14 – Other Payables
Other Payables 38,350,319.65 73,206,484.89

38,350,319.65 73,206,484.89
Note 15 – Government Equity

Government Equity 9,143,205,391.12 8,588,605,920.78
9,143,205,391.12 8,588,605,920.78
50
NOTES TO STATEMENT OF FINANCIAL PERFORMANCE
Note 1 - Tax Revenue

Professional Tax 3,359,487.34 -
Amusement Tax 44,562,872.27 41,581,713.10
Business Tax 1,475,106,214.83 1,162,704,653.03
Community Tax 86,922,301.77 74,030,887.73
Franchise Tax 9,000,000.00 9,000,000.00
Real Property Tax- Basic 426,970,795.97 394,244,177.96
Real Property Transfer Tax 121,569,028.97 95,844,120.55
Special Education Tax 312,062,941.07 289,831,926.35
Tax on Delivery Trucks and Vans 3,392,331.80 6,418,600.25
Tax on Sand, Gravel and Other Quarry Products 2,222,162.28 179,504.00
Tax Revenue - Fines and Penalties 43,001,962.29 -
Total 2,528,170,098.59 2,073,835,582.97
Note 2 - Share from Internal Revenue Collections
Share from Internal Revenue Collections (IRA) 1,690,564,205.00 1,526,355,199.00

1,690,564,205.00 1,526,355,199.00
Note 3 - Other Share from National Taxes
Share from Economic Zones 163,632,494.46 189,570,679.31

163,632,494.46 189,570,679.31
51
Note 4 - Service and Business Income

Affiliation Fees 8,036.80 8,123.60
Clearance and Certification Fees 59,324,823.54 18,588,143.18
Fees for Sealing and Licensing of Weights and Measures 295,318.07 115,493.25
Fines and Penalties - Business Income 38,086,275.78
Fines and Penalties - Service Income 43,626,238.87 72,452,588.53
Garbage Fees 57,772,113.37 89,090,983.26
Hospital Fees 72,997,069.48 88,418,953.28
Inspection Fees 8,590,839.50 12,613,869.94
Interest Income *433,190,812.92 572,603,263.04
Occupation Fees 13,447,286.78 14,855,238.20
Other Business Income 9,273,425.00 3,220,226.25
Other Service Income 761,230.00 920,124.42
Parking Fees 48,166,395.00 36,951,675.00
Permit Fees 247,464,838.45 157,639,858.70
Processing Fees - -
Receipts from Market Operations 58,044,054.04 55,696,141.81
Receipts from Slaughterhouse Operation - 6,237,065.34
Registration Fees 46,336,056.09 32,410,286.00
Rent Income 13,351,746.62 11,425,255.99
Road Network Fees 8,166,077.17 9,181,100.99
Sales Revenue 10,910,240.04 12,999,885.37
School Fees 3,121,064.89 4,234,894.29
Transportation System Fees 578,000.00 910,000.00
Registration Plates, Tags and Stickers Fees 33,860.00 -
Seminar/Training Fees 210.00 -
Total 1,173,546,012.41 1,200,573,170.44
* Portion of the total Interest Income represent Realized Income from the sale of SRP Lot 8-1B
(SM) and Lot1 Filinvest which was previously recognized as deferred income from last year’s
statement with reference JEV-2017-12-048395.
Lot 8-1B (SM) – P 200,180,000.00

Lot1 Filinvest – P 135,162,006.00
Total P 335,342,006.00
52
Note 5 - Gain on Sale of Assets
Gain on Sale of Property, Plant and Equipment - 64,033,458.31

- 64,033,458.31
Note 6 - Miscellaneous Income

14,198,877.3
Miscellaneous Income 6 16,059,520.36
14,198,877.36 16,059,520.36
Note 7 - Personnel Services
Salaries and Wages - Regular 294,628,542.80 291,731,583.64

Salaries and Wages - Casual/Contractual 544,355,065.66 511,022,810.88
Personnel Economic Relief Allowance (PERA) 101,419,618.78 101,413,631.45
Representation Allowance (RA) 6,373,429.17 6,059,107.14
Transportation Allowance (TA) 4,682,392.67 4,304,968.64
Clothing/Uniform Allowance 20,452,000.00 21,890,613.64
Subsistence Allowance 4,852,948.42 6,164,467.44
Laundry Allowance 914,139.27 -
Quarters Allowance 49,136.75 -
Productivity Incentive Allowance 21,035,000.00 19,268,500.00
Other Bonuses and Allowances 75,996,177.17 69,841,784.87
Honoraria 12,542,896.75 5,109,721.57
Hazard Pay 38,572,433.23 38,060,649.26
Overtime and Night Pay 8,768,131.67 12,872,435.72
Year End Bonus 70,420,142.80 66,778,889.05
Cash Gift 21,333,750.00 21,748,704.00
Retirement and Life Insurance Premiums 99,684,477.91 95,801,742.01
PAG-IBIG Contributions 5,112,426.55 5,099,174.75
PHILHEALTH Contributions 9,208,210.48 9,056,797.88
Employees Compensation Insurance Premiums 5,016,299.84 5,023,298.49
Terminal Leave Benefits 33,985,117.37 34,390,944.60
Other Personnel Benefits 26,006,770.44 23,635,273.19
Total 1,405,409,107.73 1,349,275,098.22
53
Note 8 - Maintenance and Other Operating Expenses
Traveling Expenses - Local 10,297,723.70 3,351,425.37

Traveling Expenses - Foreign 117,315.00 -
Training Expenses 12,437,259.15 6,877,880.99
Office Supplies Expenses 18,753,793.88 10,378,086.30
Accountable Forms Expenses 8,412,935.00 3,871,692.50
Animal/Zoological Supplies Expenses 795,593.60 296,320.00
Food Supplies Expenses 1,830,368.25 1,819,820.94
Drugs and Medicines Expenses 74,563,645.03 22,165,003.08
Medical, Dental and Laboratory Supplies Expenses 53,593,654.39 18,969,553.27
Fuel, Oil and Lubricants Expenses 65,513,857.12 40,774,743.34
Agricultural and Marine Supplies Expenses 5,524,853.05 706,550.00
Military, Police and Traffic Supplies Expenses 835,675.00 -
Chemical and Filtering Supplies Expenses 232,500.00 -
Other Supplies and Materials Expenses 121,893,884.51 77,203,529.56
Water Expenses 8,777,279.83 11,893,245.78
Electricity Expenses 190,374,428.48 188,655,549.10
Telephone Expenses 13,991,485.43 13,918,091.58
Internet Subscription Expenses 2,576,719.00 2,813,723.22
Awards/Rewards Expenses 100,000.00 -
Survey Expenses 277,470.00 290,097.98
Legal Services - 90,000.00
Confidential Expenses 504,834.15 -
Extraordinary and Miscellaneous Expenses 5,197,106.37 1,074,811.62
Consultancy Services 13,051,576.36 11,202,000.00
Environment/Sanitary Services 2,768,710.96 1,925,301.00
Janitorial Services 17,130,765.80 16,000,283.90
Security Services 57,800,514.54 56,285,152.60
Repairs and Maintenance - Infrastructure Assets 11,817,885.56 14,348,145.84
Repairs and Maintenance - Buildings and Other
11,018,356.21
Structures 31,523,327.05
Repairs and Maintenance - Machinery and
2,591,135.85
Equipment 1,223,132.67
Repairs and Maintenance - Transportation
8,314,066.19
Equipment 946,293.14
Repairs and Maintenance - Furniture and Fixtures 35,100.00
Repairs and Maintenance - Other Property, Plant
1,331,918.00
and Equipment 396,615.88
Taxes, Duties and Licenses 2,917,467.06 3,156,410.60
Fidelity Bond Premiums 1,506,639.55 1,363,325.34
Insurance Expenses 11,505,417.87 8,079,497.05
Advertising Expenses 1,159,023.15 2,088,831.96
Printing and Publication Expenses - -
Transportation and Delivery Expenses 38,937.80 288,040.37
Rent Expenses 53,035,045.57 12,837,027.78
Scholarship Grants / Expenses - 227,835.00
Membership Dues and Contributions to
-
Organizations 20,000.00
54
Subscription Expenses 198,647.65 114,437.92
Donations 6,555,276.00 2,830,600.00
Other Maintenance and Operating Expenses 1,967,958,051.46 1,648,450,591.60
Total 2,767,336,916.52 2,218,456,974.33
Note 9 - Non-Cash Expenses

Depreciation - Land Improvements 2,822,002.08 2,822,002.08
Depreciation - Infrastructure Assets 10,141,040.78 -
Depreciation - Buildings and Other Structures 74,986,284.79 64,910,381.27
Depreciation - Machinery and Equipment 80,565,691.42 76,008,366.34
Depreciation - Transportation Equipment 87,209,133.25 90,694,932.45
Depreciation - Furniture, Fixtures and Books 3,842,556.33 3,891,665.40
Depreciation - Other Property, Plant and Equipment 5,905,321.74 6,754,189.70
Loss on Foreign Exchange (FOREX) 108,141,157.80 222,500,937.78
Total 373,613,188.19 467,582,475.02
Note 10 - Financial Expenses

Interest Expenses 106,390,234.67 126,552,921.87
Bank Charges - 250.00
Other Financial Charges 1,734,027.41 1,811,422.67
Total 108,124,262.08 128,364,594.54
Note 11 - Transfers, Assistance and Subsidy From

60,527,117.4
Subsidy from National Government 2 56,516,890.49
Subsidy from Government-Owned and/or
Controlled Corporations - -
Transfers from General Fund of Unspent 12,999,474.5
DRRMF 5 -
Subsidy from Other Funds 145,477,398.20 20,960,579.00
Subsidy from General Fund Proper/Other
Special Accounts 493,113,239.80 631,831,749.92
712,117,229.9
Total 7 709,309,219.41
55
Note 12 - Transfers, Assistance and Subsidy To

Subsidy to NGAs 70,278,895.52 68,748,960.08
Subsidy to Other Local Government Units 159,642,114.67 175,755,947.95
Subsidy to Other Funds 143,477,398.20 47,666,121.12
Subsidy to General Fund Proper/Special Accounts 493,113,240.80 625,640,367.92
Subsidy to Local Economic Enterprises 4,003,966.00 6,191,382.00
Subsidies - Others 1,747,265.00 1,663,722.05
Transfers of Unspent Current Year DRRM Funds to the Trust
118,498,222.00 -
Funds
Total 990,761,102.19 925,666,501.12
NOTES TO STATEMENT OF CASH FLOWS
Note 1 - Collection from Taxpayers

Collection of Documentary Stamp/Withholding Tax to 6,888,
be remitted to BIR 149.77 5,420,019.26
Collection from Share from Taxes / National Wealth 163,632,494.46 -
Collection of Local Taxes* - 1,579,408,140.46
Collection of Property Taxes 121,562,373.97 -
Collection of Tax Revenue - Fines and Penalties 21,195,856.76 -
Collection of Tax Revenue - Individual and 90,297,
Corporation 443.23 -
Collection of Taxes on Goods and Services 1,534,274,539.89 -
Total 1,937,850,858.08 1,584,828,159.72
*Collection of Local Taxes previously presented as one line item is now broken into different line
items (Collection of Property Taxes, Tax Revenue, and Taxes on Goods and Services) in the new
format under PPSAS.
Note 2 - Receipts from Business/Service Income

Collection of Business Income 271,966,191.49 193,887,918.76
Collection of Permits and Licenses - 193,664,031.45
Collection of Service Income 419,889,079.95 136,668,351.94
Total 691,855,271.44 524,220,302.15
56
Note 3 - Other Receipts
2016*
Particulars 2017
(Restated)
None Template Transactions - 306,546.98
Adjustment for JEV erroneously charged to other funds - 156,972.61
Adjustment of inadvertent/erroneous recording of disbursement - 11.98
Adjustment of rejected disbursement credited by bank to the City's current account 414,602.17 186,156.52
Adjustment of rejected payroll credited by bank to the City's current account - 444,182.66
Adjustment of inadvertent/erroneous disbursement/deposits 10,708,000.00 3,071,467.20
Adjustment of Interest Income erroneously credited to other funds/Interest Income of
92,298.95
Trust Fund 362,473.22
Bank-to-Bank transactions involving transfer of funds 58,000,000.00 -
Collection of Inter Agency Receivables 71,006,668.55 -
Collection of Intra-Agency Receivables 341,581,403.49 428,556,707.32
Cancellation of Lost/Stale Checks (issued prior/ during the year) 27,200,557.48 5,795,667.87
Collection from Audit Disallowances and Suspension 516,591.17 175,979.50
Collection from Sale of Inventory Items - 2,200.00
Collection of Advance Rental and other advance collection - 94,596.00
Collection of Miscellaneous Income 9,242,145.71 -
Collection of Other Income 96,652,532.26 762,112,866.63
Collection of Other Receivables 5,536,666.65 3,297,565,191.35
Collection of Overpayment Expenses for Prior Years Unbilled - 946.87
Collection of Overpayment of MOOE other than utility expenses 33,810.00 152,910.66
Collection of Overpayment of Salaries and Other Compensation Billed - 25,991.88
Collection of Overpayment/Refund of Utility Expenses Unbilled - 72,506.41
Collection of Receivables from National Government Agencies - 381,162.20
Collection of Receivables from NGOs/POs - 258,598.16
Collection of Receivables/Due from Officers and Employees(except cash advance and
275,858.38 3,806.84
cash shortage)
Collection Receivables from LGUs - 38,887,638.21
Deposits of Collections - -
Deposits from other Special Account / Fund due to Closing of Bank Account - 5,817,863.56
Interbranch Deposit from other Agencies - 15,800,000.00
Miscellaneous Adjustment affecting income and collections 1,892,132.79 5,102,648.51
57
Proceeds from Maturity of Investments/Pretermination of Time Deposit/Termination of
132,398,572.62 599,017,585.09
Current Account
Receipts of Assistance and Subsidies 157,000,000.00 392,329,676.06
Receipt for Payment of Lost Property When Request for Relief was Denied - 46,356.77
Receipt of Bidding Documents/Liquidated Damages - 15,844,492.17
Receipt of payment of Employees Loans and premiums not deducted from the payroll 17,180.05 21,636.02
Receipt of Performance/Bidders Bonds - 10,224,287.98
Receipt of Funds for Implementation of Projects - 119,020,848.71
Receipt of Prior Years Income/Collection 383,747.66 95,350.00
Receipt of Undistributed Realty Collection - 752,667,788.46
Receipts from Trust Liabilities / Payable Accounts 1,644,213,560.45 -
Refund of Cash Advance 36,033,879.30 14,615,645.23
Refund of Cash Shortages 71,454.07 206,225.81
Refund from Overpayment of Maintenance and Other Operating Expenses 89,078.28 21,845.54
Refund of Overpayment of Personnel Services 189,516.32 74,486.44
Receipts from Other Deferred Credits 37,006.10 -
Receipts of Shares, Grants and Donations 10,000.00 -
Termination of Time Deposit and transfer of Deposit - 168,960,691.16
Total 2,593,597,262.45 6,638,482,008.58
*The restatement made was due to reclassification of Cash in Bank – Local Currency, Time Deposits from Cash and Cash Equivalent to
Investment.
58
Note 4 - Payment of Expenses
2016*
Particulars 2017
(Restated)
Payment / Reimbursement of Travelling Expenses / Training 4,383,988.5
Expenses 9,263,328.63 7
Payment for Communication Expenses 13,668,909.53 13,588,371.02
Payment for Confidential, Intelligence and Extraordinary 878,432.7
Expenses 3,641,908.61 8
Payment for Financial Expenses 1,734,027.41 1,810,261.35
Payment for General Services 27,807,484.11 -
Payment for Maintenance and Other Operating Expenses 506,314,067.45 1,338,463,945.67
Payment for Professional Expenses 3,135,990.00 21,382,963.38
Payment for Repairs and Maintenance 1,879,557.71 10,398,092.03
Payment for Survey, Research and Development Expenses 243,281.25
Payment for Taxes, Insurance Premiums and Other Fees 15,456,144.87 40,081,060.91
Payment for Utility Expenses 183,095,000.49 192,913,105.94
Payment of Allowances & Other Compensation 251,150,419.87 257,825,210.23
Payment of Other Personnel Benefits 25,801,316.87 -
Payment of Prior Years' Salaries, Wages, Allowances &
Other Compensation 1,684,221.83 5,014,485.87
Payment of Salaries and Wages thru Bank 543,026,179.95 520,892,450.13
Payment of Terminal Leave Benefits 29,097,405.22 23,271,570.50
Total 1,616,999,243.80 2,430,903,938.38
Note 5 - Payment to Suppliers and Creditors
2016*
Particulars 2017
(Restated)
Payment for Current Year's Accounts 100,714,195.
Payable 35 -
Payment for Payable Accounts (other than 35,791,203.
12,070,646.52
A/P) 86
623,575,022.
Payment for Prior Year's Accounts Payable 785,003,543.90
74
Payment for Purchase of Inventories,
49,371,879.
Supplies and Materials Directly Issued to
17
End-User 21,039,352.00
Payment for Purchase of Inventories,
- 6,532,385.71
Supplies and Materials for Stock
Total 809,452,301.12 824,645,928.13
Note 6 - Payment to Employees
2016*
Particulars 2017
(Restated)
Grant of Cash Advance 1,423,596,436.71 78,673,234.76
Total 1,423,596,436.71 78,673,234.76
59
Note 7 - Other Disbursement
2016*
Particulars 2017
(Restated)
Adjustment for Check Deposits due to insufficient funds 15,250.00
Adjustment for JEV erroneously charged to other funds - 1,100.00
Adjustment for Share of Internal Revenue Allotment 305,271,039.80
Adjustment of inadvertent/erroneous disbursements/deposits 1,411.32 122,121,631.26
Bank-to-Bank transactions involving transfer of funds 29,157,970.33
Deposits of Collections 1,026,445,837.81 5,202,775,435.19
Financial Assistance to NGAs, GOCCs, LGUs, NGOs/POs for implementation of projects 14,264,961.94 40,550,291.40
Grant of Financial Assistance/Subsidy subject to liquidation 500,000.00 412,187,575.86
Liquidation of Petty Cash Fund 8,407.00 11,185.00
Miscellaneous Adjustment affecting income and collections 1,981,560.59 5,000,487.70
None Template Transactions - 229,614.44
Payment for Burial and Medical Assistance 98,213,105.45 65,203,597.81
Payment for Financial Assistance and Subsidy 165,486,555.31 -
Payment for Inter Agency Payables 161,085,123.13 248,420,601.08
Payment for Intra Agency Payables 335,799,233.89 442,468,200.93
Payment for Rewards and Prizes 100,000.00 -
Payment for Transfers 20,000,000.00 308,315,628.20
Payment for Trust Liabilities 118,723,744.18 26,383,530.15
Inter Fund Transfer - 1,272,254.07
Refund of collection of income/receivable accounts 21,904,735.92 153,665.56
Refund of Excess Creditors/Contractors/other entities Withholding 94,202.22 -
Refund of Excess Employees' Withholding Taxes, Loans & Premiums 2,456,339.21 4,230,959.19
Refund of PhilHealth Payments 14,813.00 1,962,036.53
Remittance of Government Share & Salary Deductions from Employees 535,930,456.68 481,605,133.90
Remittance of Taxes Withheld from Suppliers, Contractors & other entities 90,895,104.59 110,051,233.81
Replenishment of Petty Cash Fund 922,289.09 2,784,073.41
Subsidy to General Fund Proper/Special Accounts 50,000,000.00 -
Transfer from Current/Savings Account to Time Deposit Account 150,000,000.00
Transfer of Funds to other Special Account / Fund due to Closing of Bank Account - 5,817,863.56
Total 2,674,001,101.66 7,936,817,138.85
60
Note 8 - Purchase/Construction of Property, Plant and Equipment
Cash Purchase of Property, Plant and Equipment - 20,326,246.43

Cash Payment for Progress Billing of Contractor for
Construction for Agency Assets - 205,423,404.37
Cash Payment for Progress Billing of Contractors for
Public Infrastructures - 244,763,357.40
Cash Payment for Progress Billing for Construction in 369,547,983.27
Progress
Cash Purchase for Transportation Equipment 2,840,571.43
Cash Purchase of Infrastructure Assets 3,302,577.12
Cash Purchase of Land and Land Improvements 49,175,675.00
Cash Purchase of Machinery and Equipment 36,864.11
Total 424,903,670.93 470,513,008.20
Note 9: Payment of Long-Term Liabilities

Payment for Bill/Bonds/Loans Payable 280,526,157.80 278,923,297.78
Total 280,526,157.80 278,923,297.78
61
Reconciliation of Net Cash Flows from Operating Activities to Surplus / (Deficit)
City of Cebu
Statement of Cash Flows
As of December 31, 2017
General Fund
2016* 2016
2017 (Submitted FS
(Restated)
for CY2016)
Surplus/(Deficit) 382,165,772.01 495,548,531.42 495,548,531.42
Non-cash transactions:
222,413,154.14
Depreciation 242,233,086.54 222,413,154.14
Amortization of Intangible Assets
Impairment Loss
(1,273,269,234.23)
(Decrease)Increase in payables (907,562,311.76) (6,177,813,936.90)
(Gains)Losses on Sale of PPE (64,033,458.31) (64,033,458.31)
(Gains)Losses on Foreign Exchange 108,141,157.80 222,500,937.78 222,500,937.78
(Gains)Losses on Sale of Investments
(Increase)Decrease in current assets
(Increase)Decrease in investments due to
revaluation
4,170,428,350.05 3,621,269,199.08
(Increase)Decrease in receivables (174,705,630.79)
(1,130,956,421.8
Net Cash from Operating Activities (349,727,926.20) 2) 3,224,429,129.88
City of Cebu
Special Education Fund
2016* 2016
2017 (Submitted FS
(Restated)
for CY2016)
Surplus/(Deficit) 254,818,569.07 194,842,655.15 194,842,655.15
22,668,383.10
Depreciation 23,238,943.85 22,668,383.10
Impairment Loss
(51,549,406.72)
(Decrease)Increase in payables (251,901,604.05) (477,938,611.51)
(Gains)Losses on Sale of PPE
(Gains)Losses on Foreign Exchange
revaluation
318,532,265.40 235,510,895.95
(Increase)Decrease in receivables 126,055,814.74
401,472,527.48
Net Cash from Operating Activities 152,211,723.61 58,104,692.14
City of Cebu
62
Trust Fund
2016* 2016
2017 (Submitted FS
(Restated)
for CY2016)
Surplus/(Deficit)
Depreciation

Impairment Loss
263,839,884.6 128,321,211.3
(Decrease)Increase in payables 646,452,190.68 0 9
(Gains)Losses on Sale of PPE
(Gains)Losses on Foreign Exchange
revaluation
(164,729,447.80 (244,343,295.94 (100,811,289.39
(Increase)Decrease in receivables ) ) )
Net Cash from Operating Activities 481,722,742.88 19,496,588.66 27,509,922.00
City of Cebu
General Fund/ Special Education Fund/ Trust Fund
2016* 2016
2017 (Submitted FS for
(Restated)
CY2016)
Surplus/(Deficit) 636,984,341.08 690,391,186.57 690,391,186.57
245,081,537.24
Depreciation 265,472,030.39 245,081,537.24
Impairment Loss
(1,196,497,429.56)
(Decrease)Increase in payables (513,011,725.13) (6,391,912,663.81)
(Gains)Losses on Sale of PPE (64,033,458.31) (64,033,458.31)
(Gains)Losses on Foreign Exchange 108,141,157.80 222,500,937.78 222,500,937.78
(Increase)Decrease in investments due
to revaluation
3,755,968,805.64
(Increase)Decrease in receivables (213,379,263.85) 4,244,617,319.51
Net Cash from Operating Activities 284,206,540.29 (1,053,355,141.02) 3,653,411,579.36
63
RECONCILIATION ON STATEMENT OF COMPARISON OF BUDGET & ACTUAL AMOUNTS
On the next page is the combined reconciliation (General Fund & Special Education Fund) between
actual amounts on a comparable basis as presented in the Statement of Comparison of Budget &
Actual Amounts and in the Statement of Financial Performance for the Year Ended December 31,
2017.
64
Reconciliation between actual amounts on a comparable basis CEBU CITY
as presented in this statement and in the Statement of Financial Maintenance and
Performance for the Year Ended December 31, 2017 Personal Other Operating Financial Capital
Income Services Expenses Expenses Outlay
Comparison Statement of Budget and Actual 5,570,111,687.82 1,404,737,691.04 3,242,985,788.05 1,734,027.41 470,133,171.90
(542,887,501.42
Entity Differences - (5,616,545.39) )
Basis Differences: 638,590,638.00 - - 106,390,234.67 (470,133,171.90)
Income not considered budgetary items 638,590,638.00 - - - -

Non-cash income 638,590,638.00
Gain on Sale of Assets -
Receipts not considered as income - - - - -

Sale of capital assets -
Borrowings -
Budgetary items not considered as expenses - - - 106,390,234.67 (470,133,171.90)

Debt Service (Loan Amortization, Retirement of Debt Instruments) - 106,390,234.67
Interest Expenses capitalized -
Capital Expenditures - (470,133,171.90)
Timing Differences: - - - - -
Prepayments charged to current appropriations -
Unconsumed Inventories charged to current appropriations -
Consumed Inventories and deferred charges charged to prior
period appropriations -
Per Statement of Financial Performance 6,208,702,325.82 1,399,121,145.65 2,700,098,286.63 108,124,262.08 0.00
65
V. ADDITIONAL DISCLOSURES
i. Revenue From Non-Exchange Transactions
The agency recognizes revenues from fees, taxes and fines when the event occurs
and the asset recognition criteria are met. Other non-exchange revenues are recognized
when it is probable that the future economic benefits or service potential associated with
the asset will flow to the entity and the fair value of the asset can be measured reliably.
Tax revenue amounting to P 312,062,941.07, as reflected on the Statement of

Financial Performance, represents Special Education Tax recognized during the calendar
year 2017.
Receivables substantially consist of Special Education Tax Receivable amounting to

P 299,739,531.99, recognized during the calendar year 2017. Conversely, deferred credits /
unearned income, representing deferred special education tax income, has been
recognized in the Statement of Financial Position for the same amount.
ii. Provisions, Contingent Liabilities and Contingent Assets
BIR Assessments were received for deficiency taxes for the taxable year 2009 in the total
amount of P 671,876,820.85 and taxable year 2010 in the total amount of P
1,170,683,885.51. The assessments pertain to all the funds maintained by the agency as
an aggregate and not solely for this Special Education Fund. In relation to these
assessments, the agency already interposed a protest and a request for reinvestigation.
Taxable Year 2009

Assessment No. 82-it-13-2009-2015-01-22 P 317,097,981.88
Assessment No. 82-vt-13-2009-2015-01-23 P 142,394,510.38
Assessment No. 82-we-13-2009-2015-01-24 P 69,532,352.87
Assessment No. 82-wg-13-2009-2015-01-25 P 138,151,922.17
Assessment No. 82-wc-13-2009-2015-01-26 P 4,700,053.55
P 671,876,820.85
Taxable Year 2010

Assessment No. 82-it-13-2010-2015-01-27 P 734,504,756.07
Assessment No. 82-vt-13-2010-2015-01-28 P 339,868,315.10
Assessment No. 82-we-13-2010-2015-01-29 P 27,432,719.64
Assessment No. 82-wg-13-2010-2015-01-30 P 68,878,094.70
P 1,170,683,885.51
iii. Exchange differences
The amount of exchange difference recognized in surplus or deficit for the previous year
2015 arises from the P 6B foreign loan funded by the Japan Bank for International
Cooperation (formerly known as Japan International Cooperation Agency) for the
development of the 300-hectare South Road Properties.
No exchange differences resulted in exchange transactions during the previous year 2016.
However, the realized foreign exchange gain / (loss) for this year 2017 amounted to (P
108,141,157.80).
66
iv. Joint Venture
In February 2009, the Cebu City Government entered into a P25B joint venture
development project with the Filinvest Land, Inc. for the development of reclaimed South
Road Properties spanning approximately 50.6 hectares.
The city government, for its part, provides the utilities such as water and power supply.
v. Petition for Write-Off
In December 2015, this office had filed a petition in the Commission on Audit, Central Office
in Quezon City for the writing off of dormant accounts which substantially comprised the
beginning balances set up in 2006 upon adoption of the ENGAS.
To date, no response has been received by this office.
67

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Republic of the Philippines

COMBINED NOTES TO FINANCIAL STATEMENTS

GENERAL FUND / SPECIAL EDUCATION FUND / TRUST FUND

II. Statement of Compliance

III. Summary of significant accounting policies

General Fund Trust Fund

iii. Interest in Joint Venture

iv. Revenue recognition

Revenue from non-exchange transactions

Taxes, fees and fines

Transfers from other government entities

Revenues from non-exchange transactions with other government entities are

Revenue from exchange transactions

Rental income arising from operating leases on investment properties is accounted

vi. Property, Plant and Equipment

viii. Cash and cash equivalents

Inventories are recognized as an expense when deployed for utilization or consumption

xi. Foreign currency transactions

xii. Borrowing costs

xiii. Prior Year’s Adjustments

xiv. Budget information

IV. RELEVANT DISCLOSURES

NOTES TO STATEMENT OF FINANCIAL POSITION

Note 1 - Cash and Cash Equivalents

Cash Local Treasury 124,184,933.92 27,055,449.60 27,055,449.60

Cash – Local Treasury

The balance of P 124,184,933.92 is composed of the following per subsidiary ledgers:

The balance of P 12,249.36 is composed of the following per subsidiary ledgers:

Cash in Bank – Local Currency, Current Account

The balance of P 1,466,503,538.97 is composed of the following per subsidiary ledgers:

Cash in Bank – Local Currency, Time Deposits

Cash in Bank – Foreign Currency, Time Deposits

Deposits on Letter of Credit

Guaranty Deposits amounting to P 136,015,478.04 under General Fund are composed of

Particulars 2017 2016

The amount of P 511,028.00 of Accounts Receivable reflected in the Statement of Financial

Particulars 2017 2016

The balance of P 315,133.95 is composed of the following per subsidiary ledgers:

Particulars General Fund Special Education Fund Trust Fund Total

Office Supplies Inventory

The balance of P 42,654,864.66 is composed of the following per subsidiary ledgers:

Accountable Forms, Plates and Stickers

The balance of P 21,846,512.68 is composed of the following per subsidiary ledgers:

Particulars General Fund Special Education Fund Trust Fund Total

Animal / Zoological Supplies Inventory

Particulars General Fund Special Education Fund Trust Fund Total

Particulars General Fund Special Education Fund Trust Fund Total

Particulars General Fund Special Education Fund Trust Fund Total

Fuel, Oil and Lubricants Inventory

The balance of P 82,053,390.42 is composed of the following per subsidiary ledgers:

Agricultural and Marine Supplies Inventory

The balance of P 3,994,895.36 composed of the following per subsidiary ledgers:

Particulars General Fund Special Education Fund Trust Fund Total

Textbooks and Instructional Materials Inventory

The balance of P 500,000.00 is composed of the following per subsidiary ledger:

Particulars General Fund Special Education Fund Trust Fund Total

Military, Police and Traffic Supplies Inventory

The balance of P 722,000.00 is composed of the following per subsidiary ledger:

Construction Materials Inventory