MUNICIPALITY OF ABUCAY

CONSOLIDATED STATEMENT OF FINANCIAL POSITION

As of December 31, 2014
(With Comparative Figures for CY 2013)

2014 2013
ASSETS
Current Assets
Cash (Note 5) P 37,418,688.32 P 23,917,499.32
Receivables (Note 6) 1,700,387.08 7,329,265.86
Inventories (Note 7) 1,173,469.11 864,244.38
Prepaid Expenses (Note 8) 223,851.57 258,063.09
Total Current Assets 40,516,396.08 32,369,072.65
Investments and Property, Plant and Equipment
Investments
Investments in Securities (Note 9) 2,511,541.83 516,687.83
Total Investments 2,511,541.83 516,687.83
Property, Plant & Equipment (Net of depreciation) (Note 10)
Land and Land Improvements 17,050,871.56 17,422,583.53
Buildings 91,228,351.41 94,294,881.89
Office Equipment, Furniture and Fixtures 2,374,219.33 2,020,962.27
Machineries and Equipment 4,995,097.34 3,643,778.13
Transportation Equipment 1,368,038.75 1,062,163.25
Other Property, Plant and Equipment 11,228.62 24,603.70
Construction in Progress 17,935,750.00 840,000.00
Total Property, Plant & Equipment 134,963,557.01 119,308,972.77
Total Investments and Property,
Plant and Equipment 137,475,098.84 119,825,660.60
Other Assets 387,244.90 484,925.29
TOTAL ASSETS P 178,378,739.82 P 152,679,658.54

LIABILITIES AND EQUITY

LIABILITIES
Current Liabilities (Note 11) P 23,011,182.40 P 8,230,639.13
Long-Term Liabilities (Note 12) 14,746,179.06 18,703,526.62
Deferred Credits (Note 13) 1,249,487.60 7,095,596.84
TOTAL LIABILITIES 39,006,849.06 34,029,762.59
EQUITY
Government Equity 139,371,890.76 118,649,895.95
TOTAL LIABILITIES & EQUITY P 178,378,739.82 P 152,679,658.54
- -
(See accompanying Notes to Financial Statements.)
 MUNICIPALITY OF ABUCAY
CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME
For the Year Ended December 31, 2014
(With Comparative Figures for CY 2013)

2014 2013
Income (Note 14)
Local Taxes P 15,818,332.30 P 8,269,597.39
Permits and Licenses 1,956,161.76 1,904,414.13
Service Income 2,039,184.52 2,026,784.68
Business Income 7,596,602.16 6,839,797.27
Other Income 68,450,757.44 60,297,425.81
Total Income 95,861,038.18 79,338,019.28

Less: Expenses (Note 15)

Personal Services 32,944,884.51 34,315,988.22
Maintenance & Other Operating Expenses 34,557,763.80 29,591,246.80
Financial Expenses 1,257,111.76 1,574,517.09
Total Expenses 68,759,760.07 65,481,752.11
Income before Subsidies and Donations 27,101,278.11 13,856,267.17
Add: Subsidy from Other LGUs 85,000.00 80,000.00
Subsidy from NGAs - 17,000.00
Total 27,186,278.11 13,953,267.17
Less: Subsidy to LGUs - 9,000.00
Subsidy to Other Funds 607,627.38 141,213.42
Donations 949,160.00 1,490,552.60
Total 1,556,787.38 1,640,766.02
NET INCOME P 25,629,490.73 12,312,501.15

(See accompanying Notes to Financial Statements.)

 MUNICIPALITY OF ABUCAY
CONSOLIDATED STATEMENT OF CHANGES
IN GOVERNMENT EQUITY
As of December 31, 2014
(With Comparative Figures for CY 2013)

2014 2013

Government Equity, Beginning Balance P 118,649,895.95 P 112,437,946.87

Add: Adjustment to beginning balance (112,053.64) 15,597,173.63
Adjusted Beginning Balance 118,537,842.31 128,035,120.50
Add: Retained Operating Surplus
Current Operations 25,629,490.73 12,312,501.15
Less: Transfer of Completed Projects to Registry
Public Infrastructures (4,795,442.28) (21,697,725.70)
Government Equity, Ending Balance P 139,371,890.76 P 118,649,895.95

(See accompanying Notes to Financial Statements.)

 MUNICIPALITY OF ABUCAY
CONSOLIDATED STATEMENT OF CASH FLOWS
For the Year Ended December 31, 2014
(With Comparative Figures for CY 2013)

Cash Flows from Operating Activities 2014

Cash Inflows
Collection from Taxpayers P 42,014,486.89 P
Share from Internal Revenue Allotment 67,914,929.00
Receipts from sale of goods & services 8,962,271.61
Interest Income 169,093.90
Other Receipts 585,000.00
Total Cash Inflows 119,645,781.40
Cash Outflows
Payments to -
Suppliers/Creditors 47,352,712.33
Employees 32,938,838.77
Interest Expenses 1,257,111.76
Other Disbursements -
Total Cash Outflows 81,548,662.86
Net Cash from Operating Activities 38,097,118.54

Cash Flows from Investing Activities

Cash Outflows
Purchase Property, Plant & Equipment 20,645,238.62
Total Cash Outflows 20,645,238.62
Net Cash from Investing Activities (20,645,238.62)

Cash Flows from Financing Activities

Cash Outflows
Payment of Loan Amortization 3,950,690.92
Total Cash Outflows 3,950,690.92
Net Cash from Financing Activities (3,950,690.92)

Net Increase (Decrease) in Cash 13,501,189.00

Cash at the Beginning of the Year 23,917,499.32
Cash, End of the Period P 37,418,688.32 P

(See accompanying Notes to Financial Statements.)

 MUNICIPALITY OF ABUCAY
CONSOLIDATED STATEMENT OF CASH FLOWS
For the Year Ended December 31, 2014
(With Comparative Figures for CY 2013)

2013

25,116,292.74
60,018,030.00
8,295,739.44
225,241.45
97,000.00
93,752,303.63

42,028,913.12
34,315,988.22
1,574,517.09
413,990.52
78,333,408.95
15,418,894.68

13,818,781.77
13,818,781.77
(13,818,781.77)

3,950,690.92
3,950,690.92
(3,950,690.92)

(2,350,578.01)
26,268,077.33
23,917,499.32

(See accompanying Notes to Financial Statements.)