LUCENA DEVELOPMENT MULTIPURPOSE COOPERATIVE

28 Profugo Cor. Allarey Sts. Lucena City

COMPARATIVE BALANCE SHEET

ASSETS
2008 2007

Current Assets
Cash and Cash Equivalent 1,716,866.89 3,365,253.25
Short term Investment 3,070.00 3,070.00
Receivables 12,846,519.38 11,649,363.91
Prepayments 49,000.00 29,333.27
Total 14,615,456.27 15,047,020.43

Non-Current Assets
Property & Equipment 1,360,424.08 63,275.08
Long Term Investment 1,139,222.52 1,139,222.52
Other Assets 70,052.36 96,569.86
Total 2,569,698.96 1,299,067.46
TOTAL ASSETS 17,185,155.23 16,346,087.89

LIABILITIES & MEMBERS' EQUITY

Liabilities
Current Liabilities
Savings Deposit 4,181,198.33 3,534,331.89
Time Deposit 2,858,606.76 3,807,757.27
SSS/ Philhealth/Pag-ibig Payables 570.00 120.00
Withholding Tax Payable 273,994.69 227,593.47
Unearned Interest Income 8,431.00 15,493.67
Cooperative Guarantee Fund 101,799.74 171,694.14
Due to CETF 126,307.50 114,163.19
Dividend Patronage Refund Payable 517,461.97 492,720.23
Other Liabilities 1,456,433.37 1,293,737.65
9,524,803.36 9,657,611.51
Long Term Liabilities
Loans Payable-Coopbank 59,202.78 59,202.78

Members' Equity
Authorized Share Capital
(80,000 shares @ P100.00 par value Common Stocks &
20,000 shares @ P100.00 par value preferred stock)
Paid up Share capital 6,314,591.31 5,639,407.65

Donations/Grants 126,359.25 126,359.25

Statutory Funds
General reserved Fund 667,362.83 466,749.17
Educational & Training Fund 115,160.62 109,871.09
Optional Fund 377,675.08 286,886.45
Total 1,160,198.53 863,506.71
TOTAL LIABILITIES & MEMBERS' EQUITY 17,185,155.23 16,346,087.90

Page 1 of 8
E

2006 2005

2,379,272.05 2,061,573.05
3,070.00 3,070.00
10,144,617.40 8,429,604.35
20,036.89 159,912.18
12,546,996.34 10,654,159.58

36,362.08 54,480.88
713,722.52 693,322.52
20,600.00 20,600.00
770,684.60 768,403.40
13,317,680.94 11,422,562.98

2,737,197.73 1,563,070.07
2,785,701.96 2,897,015.37
120.00 531.20
162,820.88 109,209.63
19,444.60 17,400.00
-
77,125.65 63,381.30
482,697.92 341,902.51
1,199,985.06 1,148,016.87
7,465,093.80 6,140,526.95

59,202.78 59,202.78

5,052,652.62 4,549,166.99

126,359.25 126,359.25

324,435.46 350,840.03
77,125.65 63,381.30
212,811.38 133,085.68
614,372.49 547,307.01
13,317,680.94 11,422,562.98

Page 2 of 8
 LUCENA DEVELOPMENT MULTIPURPOSE COOPERATIVE
28 Profugo Cor. Allarey Sts. Lucena City
COMPARATIVE STATEMENT OF FINANCIAL CONDITION

2008 2007
REVENUE
Interest Income from loans 1,848,631.92 1,759,417.53
Health Premiums 320,493.00 572,641.30
Service Fee 191,055.76 273,186.00
Filing Fee 17,280.00 9,320.00
Penalty 4,600.00 330,862.01
Membership Fees 595,508.55 6,900.00
Miscellaneous Income 334,197.92 241,667.55
TOTAL REVENUE 3,311,767.15 3,193,994.39
EXPENSES
Financing Cost
Interest Expense-SD 109,942.97 139,471.85
Interest Expense-TD 135,048.12 180,793.58
Total Financing Cost 244,991.09 320,265.43
Administrative Cost
Salaries and Wages 648,834.37 578,705.54
Employees' Benefits 13,409.25 23,247.62
Overtime Pay 10,353.65
SSS, ECC, Philhealth, Pag-IBIG Cont. 71,539.50 106,879.30
13th Month Pay 54,625.00
Retirement Benefit Expenses 28,296.80 24,000.00
Officers' Honorarium & Allowances 99,850.00 96,890.50
Office Supplies 34,965.46 39,075.25
Power, Light & Water 66,221.78 66,583.81
Travel & Transportation 14,747.02 15,088.19
Insurance 9,590.78 6,460.00
Repairs & Maintenance 8,915.00 8,901.00
Rental 105,600.00 96,000.00
Taxes & Licenses 5,683.06 2,573.00
Consultation & Professional Fees 180,000.00 180,000.00
Hospital Charge 183,000.00 186,000.00
Communication 30,450.74 25,953.47
Representation 3,753.20 4,708.55
GA Expenses 51,207.24 103,542.21
Meeting & Conferences 35,635.14 14,014.90
Bank Charges 1,000.00 3,100.00
Collection Expenses 14,643.87 9,750.00
Affiliation Expenses 900.00
Social Services Expenses 28,123.24 20,260.80
Promotional Expenses 1,943.00 800.00
Periodicals & Magazine 1,304.00 330.00
Members' Benefitrs Expenses 90,856.50 50,400.00
Miscellaneous Expenses 25,680.27 16,566.08
Depreciations & Amortization 30,000.00 34,200.00
Provision for Probable Losses 303,600.00 303,600.00
Gifts & Donations 74,950.25 52,753.87
Total Administrative Costs 2,228,779.12 2,071,284.09
Net Surplus on Operations 837,996.94 802,444.87
Add(deduct) Extraordinary Items
Gain(Loss) on Investment 120,265.96 110,000.00

Page 3 of 8
NET SURPLUS 958,262.90 912,444.87
COOP Guarantee fund 10% 95,826.29 91,244.49
NET SURPLUS(FOR ALLOCATION) 862,436.61 821,200.38
Reserve fund-Minimum of 20%
of Net Surplus 172,487.32 164,240.08
Coop Education & Training Fund-
Minimum of 10% of Net surplus 43,121.83 41,060.02
Optional fund- Maximum of 10%
of Net Surplus 86,243.66 82,120.04
Due to CETF 43,121.83 41,060.02
Amount Available for Interest on Share
Capital and Patronage Refund 517,461.97 492,720.22

NET SURPLUS (AS ALLOCATED) 862,436.61 821,200.38

Page 4 of 8
 2006 2005

1,494,614.55 1,404,302.79
521,408.95 527,476.63
247,803.00 223,482.00
4,317.00 4,740.00
203,889.29 226,474.37
1,700.00 1,910.00
168,394.79 121,114.59
2,642,127.58 2,509,500.38

94,879.63 181,512.68
176,588.73 50,000.00
271,468.36 231,512.68

406,152.88 400,850.12
75,285.66 67,094.04

51,867.40 45,599.40

-
78,142.31 66,500.56
23,487.15 37,743.35
56,110.53 41,216.19
17,291.95 25,132.40
6,649.75 2,798.90
8,696.50 3,305.00
131,100.00 95,120.00
2,698.75 3,653.40
148,807.80 216,008.00
180,522.75 200,633.43
28,739.29 31,458.90
568.00 4,422.90
75,781.00 60,309.05
24,674.00 22,807.45
2,950.00 3,040.00
12,734.50 9,064.38
330.00
8,800.00 898.75
1,864.30 500.00
-
2,749.80 3,500.00
52,255.00 41,850.59
52,966.90 279,834.48
192,000.00 120,000.00
-
1,643,226.22 1,783,341.29 -
727,433.00 494,646.41

77,063.54 75,191.09

Page 5 of 8
804,496.54 569,837.50
- -
- -

160,899.31 113,967.50

80,449.65 56,983.75

80,449.65 56,983.75

482,697.92 341,902.50

804,496.53 569,837.50

Page 6 of 8
 LUCENA DEVELOPMENT MULTIPURPOSE COOPERATIVE
28 Profugo Cor. Allarey Sts. Lucena City
COMPARATIVE STATEMENT OF CASH FLOWS

2008 2007

Cash Flows from Operating Activities

Net Surplus 837,996.94 802,444.87
Adjustments to reconcile net surplus to
net cash provided by operating activities

ADD: Depreciation & Amortizxation 30,000.00 34,200.00

Provision for probable losses 303,600.00 303,600.00
Adjusted Net Surplus 1,171,596.94 1,140,244.87
(Increase) Decrease in Current Asets
Increase (Decrease) in Current Liabilities
Net Cash Provided by Operating Activities
(Increase) Decrease in Property & Equipment
& Other Assets
Gain On Investments
(Increase) Decrease on Investments
Net Cash Used in Investing Activities
 2006

727,433.00

52,966.90
192,000.00
972,399.90