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Contents

Contents ...................................................................................................................................................... 1
CHAPTER ONE: COMPANY’S PROFILE.............................................................................................. 4
BRIEF HISTORY .................................................................................................................................... 4
VISION ..................................................................................................................................................... 4
MISSION.................................................................................................................................................. 4
GOALS..................................................................................................................................................... 5
CORE STRATEGY ................................................................................................................................ 5
CORPORATE PHILOSOPHY .............................................................................................................. 5
CORE VALUES ...................................................................................................................................... 5
RECENT DEVELOPMENT ................................................................................................................... 6
ORGANIZATIONAL STRUCTURE...................................................................................................... 7
RANKING of DCWD .............................................................................................................................. 8
CHAPTER TWO: VERTICAL AND HORIZONTAL ANALYSIS OF FINANCIAL STATEMENTS 10
2.1 SUMMARY OF FINANCIAL MANAGEMENT POLICY ........................................................... 10
2.1.1 BASIS OF RECORDING ....................................................................................................... 10
2.1.2 CASH AND CASH EQUIVALENTS ..................................................................................... 10
2.1.3 RECEIVABLES ....................................................................................................................... 10
2.1.4 INVENTORIES ....................................................................................................................... 10
2.1.5 PREPAYMENTS .................................................................................................................... 11
2.1.6 PROPERTY, PLANT AND EQUIPMENT ........................................................................... 11
2.1.7 CONSTRUCTION IN PROGRESS...................................................................................... 12
2.1.8 OTHER ASSETS .................................................................................................................... 12
2.1.9 PROVISIONS .......................................................................................................................... 12
2.1.10 REVENUE ............................................................................................................................. 13
2.1.11 LEASES ................................................................................................................................. 13
2.1.13 EVENTS AFTER THE BALANCE SHEET DATE ........................................................... 14
2.1.14 CONTINGENCIES ............................................................................................................... 14
2.1.15 EMPLOYEE BENEFITS ...................................................................................................... 14
2.1.16 CHANGE IN ACCOUNTING ESTIMATED AND POLICIES ......................................... 14
2.1.18 CRITICAL JUDGEMENTS IN APPLYING ACCOUNTING POLICIES ........................ 15

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2.1.19 IMPAIRMENT OF ASSETS ................................................................................................ 16
2.2 VERTICAL ANALYSIS OF BALANCE SHEET ......................................................................... 16
CHAPTER 3: RATIO ANALYSIS OF DCWD ....................................................................................... 28
3.1 LIQUIDITY RATIO ......................................................................................................................... 28
3.1.1 CURRENT RATIO ...................................................................................................................... 29
3.1.2 QUICK ASSET RATIO .............................................................................................................. 29
PROFITABILITY RATIO ...................................................................................................................... 29
DEBT MANAGEMENT RATIO ........................................................................................................... 31
CHAPTER 4: INVESTMENT AND CONSTRUCTION IN PROGRESS ANALYSIS OF DCWD .. 35
INTRODUCTION .................................................................................................................................. 35
CABANTIAN WSS ............................................................................................................................... 36
BINUGAO WSS .................................................................................................................................... 37
DUMOY WSS ....................................................................................................................................... 37
PANACAN WSS ................................................................................................................................... 41
RIVERSIDE WSS ................................................................................................................................. 42
TORIL WSS........................................................................................................................................... 42
TAMUGAN WSS .................................................................................................................................. 43
OTHER PROJECTS ............................................................................................................................ 46
FEASIBILITY STUDY .......................................................................................................................... 47
TUGBOK WSS ..................................................................................................................................... 48
SUMMARY OF DCWD PROJECTS.............................................................................................. 49

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Table 1 Ranking of Water Districts as to Assets ......................................................................... 8

Table 2 Ranking of Water Districts as to Liabilities ..................................................................... 8

Table 3 Ranking of Water Districts as to Equity.......................................................................... 8

Table 4 Ranking of Water Districts as to Total Income ............................................................... 9

Table 5 Ranking of Water Districts as to Total Expenses ........................................................... 9

Table 6 Vertical Analysis ...........................................................................................................16

Table 7 Vertical Analysis for Liabilities and Equity.....................................................................17

Table 8 Horizontal Analysis the year 2015-2016 for Assets ......................................................20

Table 9 Vertical Analysis for Income Statement ........................................................................26

Table 10 Horizontal Analysis for Income Statement ..................................................................27

Table 11 Liquidity Ratio for the year 2014-2016 ........................................................................28

Table 12 Profitability Ratio for the year 2014-2016....................................................................29

Table 13 Debt Management Ratio for the year 2014-2016 ........................................................31

Table 14 Asset Management Ratio for the year 2014-2016.......................................................32

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CHAPTER ONE: COMPANY’S PROFILE

BRIEF HISTORY

Davao's first water supply system was established in 1921 which was then known as the

Sales Waterworks System. The said communal system tapped Malagos Creek and laid 28

kilometers of pipelines to serve some 10,000 users at the Davao Poblacion area.

In 1973, Davao City Water District (DCWD) was created by the virtue of Presidential

Decree 198. Operating as a quasi-public utility under a semi-government status, DCWD

implemented its projects in calculated phases and stages. Transmission and distribution lines,

sources, pumping stations and reservoirs multiplied in large proportions as DCWD coped with

Davao City’s progress. On March 12, 1992, the Supreme Court declared with finality that all

water districts in the country created under PD 198 are government-owned or controlled

corporations (201 SCRA 593). This is now the status of DCWD.

Today, DCWD continuously upgrades and finds resources, whether underground or

surface water, to ensure that abundant and only quality water supply will flow out of the taps of

Davao City for many more years ahead.

VISION

“Best water and wastewater service provider with utmost care for the people and the

environment.”

MISSION

“We commit to supply potable and affordable water 24 hours a day, provide wastewater

treatment services, operate efficiently, take a proactive role in environmental concerns and keep

a competent workforce.”

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GOALS

 Achieve an improved quality of water in Cabantian and Panacan service areas in

accordance with Philippine National Standards for Drinking Water (PNSDW);

 Attain a 98% Employee Satisfaction Rating; Exceed by 50% the projected water demand

covered by our available resources;

 Increase availability of water to all customers from 90% to 100%; and

 Fully implement Phase 1 of the Septage Management Program.

CORE STRATEGY

“Efficient and effective management of all resources for water security in Davao City.”

CORPORATE PHILOSOPHY

“Service with Dignity and Honor.”

CORE VALUES

1) Teamwork - trusting and cooperating with colleagues in pursuit of a common goal;

2) Integrity - cultivating among the people the highest ethical standards by practicing

accountability, honesty, loyalty, credibility, responsibility and transparency in the utility's daily

operations;

3) Excellence - exhibiting high level of competence, professionalism, dedication, commitment in

all facets of the organization with passion for innovation; and

4) Stewardship - building a sense of ownership over corporate assets and resources.

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RECENT DEVELOPMENT

Davao City Water District welcomes the developments of the Davao City Bulk Water

Supply Project and looks forward to the start of its operation that will provide sustainable water

supply for the city in the next 30 years.

On October 10, the Davao City Council passed on third and final reading an ordinance

that will grant DCWD’s project partner, Apo Agua Infrastructure, Inc., additional allowable use of

land in Barangay Gumalang, Baguio District for the construction of a treatment facility for the

bulk water project.

Per the joint venture agreement, Apo Agua will take charge of the water extraction and

treatment while DCWD is responsible for the water distribution. DCWD has already started

various infrastructure development and pipe laying works targeted to be completed in 2017 and

2018.

Once this project becomes operational, water availability and pressure will improve in

DCWD’s service coverage areas with Cabantian and Panacan as priority areas. It will also be

able to expand its services from 112 to 116 Barangays. With the availability of treated bulk

water, DCWD will be able to rest most of its production wells and reduce the use of groundwater

ensuring the long term protection of aquifers and water resource sustainability in Davao City.

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ORGANIZATIONAL STRUCTURE

HELEN D. EDUARDO A.
ATTY. ABDUL M. BANGAYAN MARIA LUISA L. ATTY. CHARMALOU
PAGUICAN, Ph.D
DATAYA JACINTO D. ALDEVERA
(Member (Chairperson
(Vice Chairperson representing the (Secretary (Member
representing the
representing the Business Sector) representing the representing the
Education Sector)
Professional Sector) Women Sector) Civic Sector)

ENGR. EDWIN V. REGALADO,


MPA
(General Manager)

ENGR. ARNOLD P. ATTY. RICHARD D.


SARABIA, MPA TUMANDA
(Officer-in-charge, (Manager,
Internal Audit Department) Legal Department)

ARIEL L. NOBLE, MBA RUTH G. JABINES, DM-HRM


(Manager, Officer-in-charge, Community
Corporate Planning Relations and
Department) External Affairs Department )

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RANKING of DCWD

Table 1 RANKING OF WATER DISTRICTS AS TO ASSETS

Ranking Water Districts Region Amount

1 Davao City XI 6,155,516

2 Metro Cebu VII 3,852,962

3 Cagayan De Oro X 2,324,213

4 Leyte Metro VIII 2,016,128

5 San Jose Del Monte City III 1,806,595

Table 2 RANKING OF WATER DISTRICTS AS TO LIABILITIES

Ranking Water Districts Region Amount

1 Metro Cebu VII 1,293,844

2 Davao City XI 1,015,621

3 Metro Roxas VI 983,213

4 Leyte Metro VIII 881,987

5 Butuan City XIII 881,555

Table 3 RANKING OF WATER DISTRICTS AS TO EQUITY

Ranking Water Districts Region Amount

1 Davao City XI 5,139,895

2 Metro Cebu VII 2,559,118

3 Cagayan De Oro X 1,530,072

4 Dasmarinas IV-A 1,343,837

5 Leyte Metro VIII 1,134,837

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Table 4 RANKING OF WATER DISTRICTS AS TO TOTAL INCOME

Ranking Water Districts Region Amount

1 Davao City XI 2,169,724

2 Metro Cebu VII 1,720,969

3 Cagayan De Oro X 996,925

4 Dasmarinas IV-A 759,954

5 San Jose Del Monte City III 757,014

Table 5 RANKING OF WATER DISTRICTS AS TO TOTAL EXPENSES

Ranking Water Districts Region Amount

1 Metro Cebu VII 1,446,129

2 Davao City XI 1,388,844

3 Cagayan De Oro X 697,291

4 Dasmarinas IV-A 644,617

5 San Jose Del Monte City III 569,452

9|Page
CHAPTER TWO: VERTICAL AND HORIZONTAL ANALYSIS OF FINANCIAL STATEMENTS

2.1 SUMMARY OF FINANCIAL MANAGEMENT POLICY

2.1.1 BASIS OF RECORDING

The district adopts the accrual method of accounting. All expenses are recognized when

incurred and reported in the financial statements in the period to which they relate.

2.1.2 CASH AND CASH EQUIVALENTS

Cash is valued at face value and cash in foreign currency is valued at the current

exchange rate. It includes petty cash, revolving fund. Petty cash shall be maintained under the

Imprest System.

2.1.3 RECEIVABLES

Receivables are stated at face value, less allowance for uncollectible accounts.

Periodic evaluation of account is conducted to identify those requiring sufficient level of

allowance and determine proper level thereof.

The district followed the practice of specific identification in charging bad debts in 2055.

As PAS 39, the carrying amount of the asset shall be reduced either directly or through the use

of an allowance account.

2.1.4 INVENTORIES

Inventories are stated at cost which includes purchase price, import duties and taxes,

freight, handling and other cost directly attributable to the acquisition of finish good, materials

and service as well as other cost incurred in bringing the inventories to their present location

and condition.

Cost of ending inventory of supplies and materials is computed using moving average method.

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Inventories of the District include materials and supplies that are kept in stock for the future use

in operations. These are grouped into office supplies, plant materials and operating supplies,

electric supplies, spare parts, and other supplies inventory.

2.1.5 PREPAYMENTS

Prepayments are measured at cost. This account includes advance payment to different

suppliers for the construction of various infrastructure projects of the District.

2.1.6 PROPERTY, PLANT AND EQUIPMENT

Land is stated at cost less any impairment in value. Except for the land, the District’s

property and equipment are stated at cost less accumulated depreciation and amortization and

impairment in value, if any.

The initial cost of property and equipment consists of its price, including import duties,

taxes and any directly attributable cost of bringing the asset to its working condition and location

for its intended use.

Expenditures incurred after the assets have been put into operation, such as repairs and

maintenance, are normally charged maintenance and operation expenses.

When assets are sold and retired, their cost and accumulated depreciation and

amortization are eliminated from the accounts and any gain or loss resulting from their disposal

is included in the statement of income and expense.

Straight line method of computing depreciation for government property, plant and

equipment was adopted.

A residual value equivalent to ten percent of the acquisition cost/appraisal value was

deducted before dividing the same by the Estimated Useful life. The Estimated useful life is

based on the LWUA’s commercial Practice manual. Adjustments arising from the revision of the

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asset’s useful life were charged to the current and subsequent year’s depreciation expense of

the particular assets.

2.1.7 CONSTRUCTION IN PROGRESS

Construction in progress is stated at cost. While construction is in progress, project costs

are accrued based on the contractor’s accomplishment reports and billing.

For asset under construction, the Construction Period Theory shall be applied for costing

purposes. Liquidated damages charged and paid for by the contractor shall be deducted from

the total cost of the assets.

2.1.8 OTHER ASSETS

Cash deposits in closed banks are cash deposits that remained in various closed bank

as declared by the Philippine Deposit Insurance Corporation (PDIC).

Assets declared by proper authorities as obsolete and unserviceable, including assets of the

agency no longer used, shall be reclassified to “Other assets” account from the corresponding

inventory and property, plant and equipment accounts that are not subject to depreciation.

2.1.9 PROVISIONS

Provisions are recognized when present obligation will probably lead to an outflow of

economic resources and they can be estimated reliably even if the timing or amount of outflow

mat still be uncertain. Provisions are reviewed at each balance sheet date and adjusted to

reflect the current best estimate. Provisions are measured at the estimate expenditures required

to settle the present obligation, based on the most reliable evidence available at the balance

sheet date, including the risk and uncertainties associated with the present obligation.

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2.1.10 REVENUE

Revenue is recognized only when it is probable that the economic benefits associated

with the transaction will flow to the enterprise. However, when an uncertainty arises about the

collectability of an amount already included in revenue, the uncollectable amount, or the amount

in respect of which recovery has ceased to be probable, is recognized as an expense, rather

than as an adjustment of the amount of revenue originally recognized.

The District has adopted the accrual basis of accounting in recording the income except

where it is impractical or when other methods are required by law.

Bills are rendered on the monthly cycle based on the meters read. Water sales are

recorded on the cut-off date with no accruals made for bills delivered after the end of the month.

Fines and penalties are recognized as income of the year as these were collected.

2.1.11 LEASES

Operating payments are recognized as expense in the statement of profit or loss on a

straight line basis over the period of the lease. When operating lease is terminated before the

lease period has expired, any payment required to be made to the lessor by the way of penalty

is recognized as an expense in the period in which termination takes place. When assets are

leased out under a finance lease, the present value of the lease payments is recognized as a

receivable. Lease income under finance lease is recognized over the term of the lease using the

net investment method before tax.

2.1.12 FOREIGN CURRENY TRANSLATION

Foreign currency transactions are translated into functional currency using exchange

rates prevailing at the date of the transactions.

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2.1.13 EVENTS AFTER THE BALANCE SHEET DATE

Any post year-end events that provide additional information about the district’s position

at the balance sheet date (adjusting events) are reflected in the financial statements. Any post

year –end event that is not adjusting event is disclosed in the notes to financial statements,

when material.

2.1.14 CONTINGENCIES

Contingent liabilities are not recognized in the financial statements. They are disclosed

unless the possibility of an outflow of resources embodying benefits is remote. Contingent

assets are not recognized in the financial statements but disclosed when an inflow of economic

benefits is probable.

2.1.15 EMPLOYEE BENEFITS

The district recognizes undiscounted amount of short term employee benefits, like

salaries, wages, bonuses, allowance, etc. as expense. The District recognizes expenses for

accumulating compensated absences when these are paid. Non accumulating compensated

absences, like special leave, privileges, are not recognized.

2.1.16 CHANGE IN ACCOUNTING ESTIMATED AND POLICIES

The District recognizes the effects of changes in the accounting policy retrospectively.

The effects of changes in accounting policy are applied prospectively if retrospective application

is impractical.

The District recognizes the effects of changes in accounting estimates prospectively by

including in surplus or deficit.

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2.1.17 SIGNIFICANT MANAGEMENT’S ACCOUNTING JUDGEMENTS AND ESTIMATES

The preparation of the District’s financial statements in conformity with Philippine

Financial Reporting Standards requires management to make judgments, estimates and

assumptions that affect the amounts reported in the District’s financial statements and

accompanying notes.

The estimates and assumptions used in the agency’s financial statements are based

upon management’s evaluation of relevant facts and circumstances as of the date of the

District’s financial statements.

Judgments and estimates are continually evaluated and are based on historical

experience and other factors, including expectations of future events that are believed to be

reasonable under the circumstances.

2.1.18 CRITICAL JUDGEMENTS IN APPLYING ACCOUNTING POLICIES

In the application of the District’s accounting policies, management is required to make,

estimate and assumptions about the carrying amounts of assets and liabilities that are not

readily apparent from other sources. The estimates and associated assumptions are based on

historical experience and other factors that are considered to be relevant.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions

to accounting estimates are recognized in the period in which the estimate is revised if the

revision affects only that period or in the period of the revision and future periods if the revision

affects both current and future period.

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2.1.19 IMPAIRMENT OF ASSETS

The District recognizes impairment on inventories whenever net realizable value of

inventories become lower than cost due to damage, physical deterioration, obsolescence,

changes in price levels or other causes.

2.2 VERTICAL ANALYSIS OF BALANCE SHEET

The composition of cash in the total assets is increase by 6.99% to 8.05% from 2014 to

2016 due to cash collection from accounts receivables and interest earned in time deposits

which causes to decreased the percentage in the total assets by 7.23% in the year 2014 to

2.53% in the year 2016 which resulted to a decrease of the total percentage of the current to the

total assets by 18.68% to 13.62% from the year 2014 to 2016. In noncurrent assets, the

significant increase of construction in progress by 7.67% to 24.06% from the year 2014 to 2016

causes the increase the increase of the overall composition of noncurrent assets from 81.52%

in the year 2014 to 86.38% for the year 2016.

Table 6 Vertical Analysis

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AMOUNT VERTICAL ANALYSIS

2016 2015 2014 2016 2015 2014

ASSETS

CURRENT ASSETS

CASH ₱495,343,462.26 ₱336,459,676.00 ₱271,374,267.00 8.05% 6.73% 6.99%

RECEIVABLES ₱155,744,105.72 ₱164,959,021.00 ₱280,607,998.00 2.53% 3.30% 7.23%

INVENTORIES ₱157,402,577.96 ₱161,450,581.00 ₱144,530,546.00 2.56% 3.23% 3.72%

PREPAYMENTS ₱29,860,400.70 ₱32,189,379.00 ₱21,096,253.00 0.49% 0.64% 0.54%

TOTAL ₱838,350,546.64 ₱695,058,657.00 ₱717,609,064.00 13.62% 13.90% 18.48%

NON CURRENTS ASSETS

INVESTMENTS ₱24,729,584.15 ₱24,461,370.00 ₱24,202,166.00 0.40% 0.49% 0.62%

PPE ₱1,494,455,577.70 ₱1,268,527,027.00 ₱1,199,417,896.00 24.28% 25.36% 30.89%

CONSTRUCTION IN ₱1,480,841,149.13 ₱932,570,518.00 ₱297,900,245.00

PROCESS 24.06% 18.64% 7.67%

OTHER ASSETS ₱2,317,139,634.88 ₱2,081,104,549.00 ₱1,643,161,385.00 37.64% 41.61% 42.32%

TOTAL ₱5,317,165,945.86 ₱4,306,663,464.00 ₱3,164,681,692.00 86.38% 86.10% 81.52%

TOTAL ASSETS ₱6,155,516,492.50 ₱5,001,722,121.00 ₱3,882,290,756.00 100.00% 100.00% 100.00%

The total liabilities increase in the overall composition of liabilities and equity by 7.66% to

16.50% from 2014 to 2016 due to continuous increase of the total percentage of loans payable

Domestic by 4.71% to 13.64% in 2016. It indicates that Davao City Water District continue to

engage in debt financing. The overall equity of Davao City Water District continue to decrease

by 92.34% in 2014 to 83.50% in 2016. Though debt financing continue to increase, still big

portion of the total assets are finance through company's equity.

Table 7 Vertical Analysis for Liabilities and Equity

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AMOUNT VERTICAL ANALYSIS

LIABILITIES AND EQUITY 2016 2015 2014 2016 2015 2014

LIABILITIES

CURRENT LIABILITIES

PAYABLE ACCOUNTS ₱45,118,234.66 ₱41,593,688.00 ₱49,286,692.00 0.73% 0.83% 1.27%

INTER-AGENCY ₱28,122,623.59 ₱25,070,364.00 ₱19,342,408.00

ACCOUNTS 0.46% 0.50% 0.50%

OTHER LIABILITY ₱103,072,413.46 ₱76,190,914.00 ₱45,044,546.00

ACCCOUNTS 1.67% 1.52% 1.16%

TOTAL ₱176,313,271.71 ₱142,854,966.00 ₱113,673,646.00 2.86% 2.86% 2.93%

NON CURRENTS

LIABILITIES

LOANS PAYABLE- ₱839,308,213.39 ₱494,847,906.00 ₱182,981,924.00

DOMESTIC 13.64% 9.89% 4.71%

DEFERRED CREDITS ₱0.00 ₱757,835.00 ₱606,780.00 0.00% 0.02% 0.02%

TOTAL ₱839,308,213.39 ₱495,605,741.00 ₱183,588,704.00 13.64% 9.91% 4.73%

TOTAL LIABILITIES ₱1,015,621,485.10 ₱638,460,707.00 ₱297,262,350.00 16.50% 12.76% 7.66%

EQUITY

GOVERNMENT EQUITY ₱50,613,211.00 ₱50,613,211.00 ₱50,613,211.00 0.82% 1.01% 1.30%

RESTRICTED CAPITAL ₱128,419,835.25 ₱64,983,218.00 ₱5,643,799.00 2.09% 1.30% 0.15%

RETAINED EARNINGS ₱4,960,861,961.15 ₱4,247,664,985.00 ₱3,528,771,396.00 80.59% 84.92% 90.89%

TOTAL ₱5,139,895,007.40 ₱4,363,261,414.00 ₱3,585,028,406.00 83.50% 87.24% 92.34%

TOTAL LIABILITIES AND

EQUITY ₱6,155,516,492.50 ₱5,001,722,121.00 ₱3,882,290,756.00 100.00% 100.00% 100.00%

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HORIZONTAL ANALYSIS OF BALANCE SHEET

For the comparative years 2014-2015, though total current assets decreased by 3.14%,

its total noncurrent assets increased by 36.09% due to significant increase of construction in

progress by 213.05%. As a result, the total assets increased by 28.83%

In comparative years 2016-2015, the total current assets increase by 20.62% due to

increase in cash by 47.22%. Its total noncurrent assets also increase by 20.46% due to increase

in construction in progress by 58.79%. These factors results to total assets by 23.07%.

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Table 8 Horizontal Analysis the year 2015-2016 for Assets

HORIZONTAL ANALYSIS of Assets for the year 2015-2016

2016 2015 Increase/decrease %

ASSETS

CURRENT ASSETS

CASH ₱495,343,462.26 ₱336,459,676.00 ₱158,883,786.26 47.22%

RECEIVABLES ₱155,744,105.72 ₱164,959,021.00 -₱9,214,915.28 -5.59%

INVENTORIES ₱157,402,577.96 ₱161,450,581.00 -₱4,048,003.04 -2.51%

PREPAYMENTS ₱29,860,400.70 ₱32,189,379.00 -₱2,328,978.30 -7.24%

TOTAL ₱838,350,546.64 ₱695,058,657.00 ₱143,291,889.64 20.62%

NON CURRENTS

ASSETS

INVESTMENTS ₱24,729,584.15 ₱24,461,370.00 ₱268,214.15 1.10%

PPE ₱1,494,455,577.70 ₱1,268,527,027.00 ₱225,928,550.70 17.81%

CONSTRUCTION IN

PROCESS ₱1,480,841,149.13 ₱932,570,518.00 ₱548,270,631.13 58.79%

OTHER ASSETS ₱2,317,139,634.88 ₱2,081,104,549.00 ₱236,035,085.88 11.34%

TOTAL ₱5,317,165,945.86 ₱4,306,663,464.00 ₱1,010,502,481.86 23.46%

TOTAL ASSETS ₱6,155,516,492.50 ₱5,001,722,121.00 ₱1,153,794,371.50 23.07%

Table 8.1 Horizontal Analysis for the year 2014-2015 for Assets

HORIZONTAL ANALYSIS of Assets for the year 2014-2015

2015 2014 Increase/decrease %

ASSETS

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CURRENT ASSETS

CASH ₱336,459,676.00 ₱271,374,267.00 ₱65,085,409.00 23.98%

RECEIVABLES ₱164,959,021.00 ₱280,607,998.00 -₱115,648,977.00 -41.21%

INVENTORIES ₱161,450,581.00 ₱144,530,546.00 ₱16,920,035.00 11.71%

PREPAYMENTS ₱32,189,379.00 ₱21,096,253.00 ₱11,093,126.00 52.58%

TOTAL ₱695,058,657.00 ₱717,609,064.00 -₱22,550,407.00 -3.14%

NON CURRENTS

ASSETS

INVESTMENTS ₱24,461,370.00 ₱24,202,166.00 ₱259,204.00 1.07%

PPE ₱1,268,527,027.00 ₱1,199,417,896.00 ₱69,109,131.00 5.76%

CONSTRUCTION IN

PROCESS ₱932,570,518.00 ₱297,900,245.00 ₱634,670,273.00 213.05%

OTHER ASSETS ₱2,081,104,549.00 ₱1,643,161,385.00 ₱437,943,164.00 26.65%

TOTAL ₱4,306,663,464.00 ₱3,164,681,692.00 ₱1,141,981,772.00 36.09%

TOTAL ASSETS ₱5,001,722,121.00 ₱3,882,290,756.00 ₱1,119,431,365.00 28.83%

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LIABILITY AND EQUITY

The total liabilities of Davao City Water District in comparative years of 2015-2014 due to

increase in its Loans Payable Domestic by 170.44% and other liability accounts by 69.15%. It

also increase in the comparative years 2016-2015 due to the same reason that loans payable

domestic is increase by 69.61% and other liability accounts by 35.28%

The total equity of Davao City Water District increase in both comparative years 2015-

2014 and 2016-2015 by 28.83% and 23.07% respectively due to increase of restricted capital by

1051.41% and increase of net income by 14.50% for comparative years 2015-2014 and due to

increase of 97.62% in its restricted capital for comparative years 2016-2015.

Table 9 Horizontal Analysis for Liabilities and Equity

AMOUNT Horizontal Analysis

LIABILITIES AND EQUITY 2016 2015 Increase/decrease 2016

LIABILITIES

CURRENT LIABILITIES

PAYABLE ACCOUNTS ₱45,118,234.66 ₱41,593,688.00 ₱3,524,546.66 8.47%

INTER-AGENCY

ACCOUNTS ₱28,122,623.59 ₱25,070,364.00 ₱3,052,259.59 12.17%

OTHER LIABILITY

ACCCOUNTS ₱103,072,413.46 ₱76,190,914.00 ₱26,881,499.46 35.28%

TOTAL ₱176,313,271.71 ₱142,854,966.00 ₱33,458,305.71 23.42%

NON CURRENTS

LIABILITIES

LOANS PAYABLE- ₱839,308,213.39 ₱494,847,906.00 ₱344,460,307.39 69.61%

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DOMESTIC

DEFERRED CREDITS ₱0.00 ₱757,835.00 0.00%

TOTAL ₱839,308,213.39 ₱495,605,741.00 ₱343,702,472.39 69.35%

TOTAL LIABILITIES ₱1,015,621,485.10 ₱638,460,707.00 ₱377,160,778.10 59.07%

EQUITY

GOVERNMENT EQUITY ₱50,613,211.00 ₱50,613,211.00 ₱0.00 0.00%

RESTRICTED CAPITAL ₱128,419,835.25 ₱64,983,218.00 ₱63,436,617.25 97.62%

RETAINED EARNINGS ₱4,960,861,961.15 ₱4,247,664,985.00 ₱713,196,976.15 16.79%

TOTAL ₱5,139,895,007.40 ₱4,363,261,414.00 ₱776,633,593.40 17.80%

TOTAL LIABILITIES AND

EQUITY ₱6,155,516,492.50 ₱5,001,722,121.00 ₱1,153,794,371.50 23.07%

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Table 9.1 Horizontal Analysis for Liabilities and Equity

AMOUNT Horizontal Analysis

LIABILITIES AND EQUITY 2016 2015 Increase/decrease 2016

LIABILITIES

CURRENT LIABILITIES

PAYABLE ACCOUNTS ₱41,593,688.00 ₱49,286,692.00 -₱7,693,004.00 -15.61%

INTER-AGENCY

ACCOUNTS ₱25,070,364.00 ₱19,342,408.00 ₱5,727,956.00 29.61%

OTHER LIABILITY

ACCCOUNTS ₱76,190,914.00 ₱45,044,546.00 ₱31,146,368.00 69.15%

TOTAL ₱142,854,966.00 ₱113,673,646.00 ₱29,181,320.00 25.67%

NON CURRENTS

LIABILITIES

LOANS PAYABLE-

DOMESTIC ₱494,847,906.00 ₱182,981,924.00 ₱311,865,982.00 170.44%

DEFERRED CREDITS ₱757,835.00 ₱606,780.00 ₱151,055.00 24.89%

TOTAL ₱495,605,741.00 ₱183,588,704.00 ₱312,017,037.00 169.95%

TOTAL LIABILITIES ₱638,460,707.00 ₱297,262,350.00 ₱341,198,357.00 114.78%

EQUITY

GOVERNMENT EQUITY ₱50,613,211.00 ₱50,613,211.00 ₱0.00 0.00%

RESTRICTED CAPITAL ₱64,983,218.00 ₱5,643,799.00 ₱59,339,419.00 1051.41%

RETAINED EARNINGS ₱4,247,664,985.00 ₱3,528,771,396.00 ₱718,893,589.00 20.37%

TOTAL ₱4,363,261,414.00 ₱3,585,028,406.00 ₱778,233,008.00 21.71%

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TOTAL LIABILITIES AND

EQUITY ₱5,001,722,121.00 ₱3,882,290,756.00 ₱1,119,431,365.00 28.83%

VERTICAL ANAYSIS OF INCOME STATEMENT

As of 2014, the OPEX( Operating Expenses ) was 60.63%, the financial expense was

.78% and the net income or loss was 38.59%.During 205, the OPEX was 56.48%, the Financial

expenses was 1.28%, and the net income or loss was 42.24%. While in 206, the OPEX was

62.20%, financial expenses were 1.8I%, and the net income or loss was 35.99%. The data

shows that the DCWD manage to minimize their operating expense during 205 compared to

204 and 206, which resulted to an increased portion of net income during 2015.while in 2016,

the DCWD’s operating expense increased to 62.20%, which led to the decreased portion of net

income or loss.

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Table 9 Vertical Analysis for Income Statement

HORIZONTAL ANALYSIS OF INCOME STATEMENT

The District’s gross income for the year showed a positive growth of 5%. Meanwhile, the

District’s 2015 expenditures went down by 2% compared to 2014. Thus, net income increased

by 15%. During the year, the District’s level rate in personal Services decreased by 12%.

Further, MOOE and financial Expenses increased by 3% and 73% respectively. The District’s

gross income for the year showed a positive growth of 7%. Meanwhile, the district’s 2015

expenditure went up by 19% compared to 2015 due to the recognition of Impairment Loss on

accounts receivable with ages more than one year through the allowance method in accordance

with the Philippine accounting Standards amounting to PHP 180, 303, 026.41. Thus, net income

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decreased by 9%. During the year, the District’s level rate in Personal Service increased by 8%.

Further, MOOE and financial Expenses increased by 24% and 51% respectively.

Table 10 Horizontal Analysis for Income Statement

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CHAPTER 3: RATIO ANALYSIS OF DCWD

3.1 LIQUIDITY RATIO

Table 11 Liquidity Ratio for the year 2014-2016

LIQUIDITY RATIO

2016 2015 2014

CURRENT RATIO

PHP PHP PHP

Current Asset 838,350,546.73 695,058,657 717,609,064

PHP PHP PHP

Current Liabilities 176,313,271.71 142,854,966 113,673,646

4.75 4.87 6.31

QUICK ASSETS RATIO

PHP PHP PHP

Quick Assets 651,087,567.98 501,418,697 551,982,265

PHP PHP PHP

Current Liabilities 176,313,271.71 142,854,966 113,673,646

3.69 3.51 4.86

CASH FLOW LIQUIDITY RATIO

Cash+Marketable Securities+Current Operating PHP PHP PHP

Activities 1,443,505,444.30 1,101,336,062 497,484,120

PHP PHP PHP

Current Liabilities 176,313,271.71 142,854,966 113,673,646

8.19 7.71 4.38

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3.1.1 CURRENT RATIO

As we observed from year 2014 to 2016, the ratio decreased from 6.31% to 4.75%. This

occurred because current liabilities are rising faster than current assets. As the data shows from

2014 to 2016, the current assets increased by 17%, whereas, the current liabilities increased by

55%. This indicates that DCWD’s liquidity position is somehow weak but by no means

desperate.

3.1.2 QUICK ASSET RATIO

From 2014 to 2016, the ratio has decreased from 9.86% to 3.51%. This occurred

because DCWD’s quick assets decreased by 9%, while, current liabilities increased by 6%.

From 2015 to 2016, there was an insignificant increased by 3.5% to 3.69%. This occurred

because DCWD’s quick assets increased by 30%, while, its current liabilities increased by 23%.

This indicates that the company’s ability to pay its short term obligations without relying on its

sale of inventory is somewhat weak but by no means desperate.

3.1.3 CASH LIQUIDITY RATIO

From 2014 to 2016, the ratio increased from 4.38% to 8.19%. This occurred because the

cash provided by the operating activities increased by 38% from 2014 to 2016. This indicates

that it is an improvement in short term solvency due to the positive impact of the cash provided

by the operating activities.

PROFITABILITY RATIO

Table 12 Profitability Ratio for the year 2014-2016

PROFITABILITY RATIO

2016 2015 2014

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OPERATING PROFIT MARGIN

Operating Profit PHP 820,151,190.94 PHP 880,437,187 PHP 761,280,210

PHP

Sales 2,169,723,909.85 PHP 2,022,919,640 PHP 1,933,561,493

37.8 43.52 39.37

NET PROFIT MARGIN

Net Income PHP 780,879,527.97 PHP 852,469,474 PHP 746,236,589

PHP

Sales 2,169,723,909.85 PHP 2,022,919,640 PHP 1,933,561,493

35.99 42.24 38.59

OPERATING PROFIT MARGIN

As we observed from year 2014 to 2016, the percentage was decreased from 39.37% to

37.80%. This indicates that DCWD’s operating costs are too high as compared to the past

years.

NET PROFIT MARGIN

Based on the data, from 2014 to 2016, the percentage was decreased from 38.59% to

35.99%. This result occurred because of two reasons. First, DCWD’s operating income

decreased because of the firm’s high operating costs. Second, the profit margin was negatively

impacted by the continuous increased of its debt.

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DEBT MANAGEMENT RATIO

Table 13 Debt Management Ratio for the year 2014-2016

DEBT MANAGEMENT RATIO

2016 2015 2014

DEBT RATIO

Total Liabilities PHP 1,015,621,485.10 PHP 638,460,707 PHP 297,262,349

PHP

Total Assets PHP 6,155,516,492.59 5,001,722,121 PHP 3,882,290,756

16.5 12.76 7.66

DEBT TO EQUITY RATIO

Total Liabilities PHP 1,015,621,485.10 PHP 638,460,707 PHP 297,262,349

PHP

Total Equity PHP 5,139,895,007.49 4,363,261,414 PHP 3,585,028,406

19.76 14.63 8.29

TIME INTEREST EARNED

Operating Profit PHP 820,151,190.94 PHP 880,437,187 PHP 761,280,210

Interest Expenses PHP 39,271,662.97 PHP 25,967,712 PHP 15,043,621

20.88 33.91 50.6

DEBT RATIO

From 2014 to 2016 the debt ratio increased. The increased debt ratio indicates that the

assets financed by the DCWD’s creditors have increased over the years. As a result, the

interest charges also increased. As we observed, the increased of DCWD’s ratio does not

indicate that it will lead to company’s bankruptcy.

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DEBT TO EQUITY RATIO

From 2014 to 2016, the ratio increased from 8.29% to 19.76%. This indicates that

DCWD’s capital structure is quite risky due to the increase of debt ratio but no means

desperate.

TIME INTEREST EARNED

Based on the data from 2014 to 2016, the ratio decreased from 80.60% to 30.88%. This

indicates that DCWD’s ability to pay off its interest charges was fluctuating due to the increase

of company’s debt especially its loans payable domestic.

ASSET MANAGEMENT RATIO

Table 14 Asset Management Ratio for the year 2014-2016

ASSET MANAGEMENT RATIO

2016 2015 2014

ACCOUNTS RECEIVABLE

TURNOVER

Net Sales Revenue PHP 2,169,723,909.85 PHP 2,122,919,640 PHP 1,933,561,493

Accounts Receivable PHP 155,744,105.72 PHP 164,959,021 PHP 280,607,998

13.93 12.26 6.89

AVERAGE COLLECTION PERIOD

365 Days 365 365 365

Accounts Receivable Turnover 13.93 12.26 6.89

26.2 29.76 52.97

FIXED ASSET TURNOVER

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Net Sales PHP 2,169,723,909.85 PHP 2,022,919,640 PHP 1,933,561,493

PPE(Net) PHP 1,494,455,577.70 PHP 1,268,527,027 PHP 1,199,417,895

1.45 1.59 1.61

TOTAL ASSET TURNOVER

Net Sales PHP 2,169,723,909.85 PHP 2,022,919,640 PHP 1,933,561,493

Total Asset PHP 6,155,516,492.59 PHP 5,001,722,121 PHP 3,882,290,756

0.35 0.4 0.5

ACCOUNTS RECEIVABLE TURNOVER

The Accounts Receivable Turnover increased over the years (2014 to 2016). This was

because of the amount of Accounts Receivable from 2014 – P280, 607, 998 decreased to P155,

744, 105.72 during 2016 which were collected and converted to cash and the increased amount

of revenue from P1, 933, 561, 493 as of 2014 to 2, 169, 723, 909.85 during 2016 due to the

increased charge of meter rental charge from P15 to P21. The increasing Accounts Receivable

Turnover is an indicator that the conversion of Accounts Receivable to cash of DCWD from

2014 to 2016 is also increasing.

AVERAGE COLLECTION PERIOD

The DCWD’s Average Collection Period from 2014 to 2016 have decreased. The reason

behind this decrease was because of the increasing Accounts Receivable Turnover. This

indicates that DCWD has improved its credit policies within three years.

FIXED ASSET TURNOVER

From 2014 to 2016 the Fixed Asset Turnover of DCWD have decreased. This occurred

because despite of the increasing net sales and net PPE, the increase of net PPE dominated

33 | P a g e
over the increase of net sales. The decrease Fixed Asset Turnover indicates that DCWD did not

used its fixed assets intensively based on the data from 2014 to 2016.

TOTAL ASSET TURNOVER

From 2014 to 2016 the ratio decreased; from .50 to .35. This indicates that DCWD is not

generating enough sales given its total asset. This occurred because DCWD have lots of

projects that were under extensive construction or modernization such as Transmission and

Distribution lines, reservoirs, pumping stations and etc. which cause the declining ratio of Total

Asset Turnover.

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CHAPTER 4: INVESTMENT AND CONSTRUCTION IN PROGRESS ANALYSIS OF DCWD

INTRODUCTION

Davao City Water District (DCWD) as the largest water district in the Philippines, being a

Quasi-Public utility, under a semi-government status, implemented its project in calculated

phases and stages. Transmission and distribution lines, sources, pumping stations, and

reservoirs multiplied in the large proportions as DCWD coped with Davao City’s progress.

Investment pertains to the sinking fund of DCWD/ LWUA joint account deposited under

Land bank of the Philippines.

Construction in progress is agency assets that are still under construction of various

infrastructure projects and water supply system. For assets under construction, the Construction

Period Theory shall be applied for costing purposes. Liquidated damages charged and paid for

by the contractor shall be deducted from the total cost of the asset. Any related expenses

incurred during the construction of the project, such as license fees, clearance fees, etc. shall

be capitalized.

The following are the Water Supply Systems that are the Construction in progress of

DCWD;

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CABANTIAN WSS

CABANTIAN WSS COST COST INCURRED PERCENTAGE

TO DATE OF

COMPLETION

Design and construction of PHP 35,920, 111.00 PHP 32,932,445.00 92%

water treatment plant for

Cabantian PW 1

Pipelaying of transmission PHP 481,407.00 PHP 216,527.00 45%

line and drainage system for

the 1500 cu. M.glvss

Total PHP 36,401,518.00 PHP 33, 148,972.00

Cabantian WSS

For the year 2014-2015, there was significant progress by 78%. In the year 2015 a lot of

projects under construction has been completed and classified as PPE for 2016.

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BINUGAO WSS

BINUGAO WSS COST COST INCURRED PERCENTAGE OF

TO DATE COMPLETION

Exploratory well 1%

drilling of binugao PW 7,962,814.00 71,349.00

Total 1%

7,962,814.00 71,349.00

BINUGAO WSS

New project started on the year 2016

DUMOY WSS

DUMOY WSS COST COST INCURRED PERCENTAGE

TO DATE OF

COMPLETION

Pipeline improvement at 155,422,095.00 106,258,375.00 68%

the northern part of Dumoy

WSS

Construction of facilities 28,503, 182.00 23,516,274.00 83%

and pipelaying of trans.line

for Dumoy PW#38

Reconstruction of Dumoy 1,692,832.00 662,278.00 39%

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PW# 14

Reconstruction of Dumoy 1,490,406.00 777,681.00 52%

PW# 10

Reconstruction of Dumoy 3,387,050.00 1,565,401.00 46%

PW# 7

Reconstruction of Dumoy 3,481,407.00 1,756, 100.00 50%

PW# 11

Construction of facilities for 30,222,029.00 18,271,473.00 60%

Dumoy PW#39 &

Pipelaying transmission line

for Dumoy WSS line

Pipeline Improvement 84,930,923.00 26,752,791.00 31%

along Libby road and

Construction of facilities for

Dumoy PW#40

Revision of discharge line 130, 177.00 58,621.00 45%

assembly of Dumoy PW #

01

Revision of discharge line 236,477.00 88,664.00 37%

assembly of Dumoy PW #

02

Revision of discharge line 149,977.00 2, 164.00 1%

assembly of Dumoy PW #

03

Revision of discharge line 149,977.00 2, 164.00 1%

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assembly of Dumoy PW #

07

Revision of discharge line 300,442.00 86,500.00 29%

assembly of Dumoy PW #

20

Revision of discharge line 287,242.00 121,500.00 42%

assembly of Dumoy PW #

21

Revision of discharge line 287,242.00 134,452.00 47%

assembly of Dumoy PW #

22

Revision of discharge line 300,422.00 202,765.00 67%

assembly of Dumoy PW #

24

Revision of discharge line 287,242.00 153,204.00 53%

assembly of Dumoy PW #

26

Revision of discharge line 300,442.00 163,710.00 54%

assembly of Dumoy PW #

28

Revision of discharge line 300,442.00 2cc3,669.00 71%

assembly of Dumoy PW #

29

Revision of discharge line 287,242.00 148,448.00 52%

assembly of Dumoy PW #

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33

Revision of discharge line 287,242.00 158,857.00 55%

assembly of Dumoy PW #

34

Installation of Pressure 62,832,404.00 23,865,600.00 38%

monitoring at Dumoy

Total 375,266,914.00 204,960,691.00 55%

Dumoy WSS

There is significant progress for the year 2014 to 2015 by 39%. For the year 2015, a lot of

projects has been completed which has been classified as PPE for 2016.

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PANACAN WSS

Panacan WSS Cost Cost incurred to Percentage of

date Completion

WSS at Panacan Relocation 4,594,000.00 3,170,378.00 69%

PH1 to Panacan Friendly

H.O. A (Stage 1)

Construction of Pedestal & 950,000.00 678,845.00 71%

Drainage line from Panacan

PW#2

Construction of facilities for 10,882,364.00 1,489,414.00 14%

Panacan production well #4

Total 16,426,364.00 5,338,637.00 33%

Panacan WSS

Projects completed in the year 2014 are classified as PPE in 2015. Projects are still in

process showing 68% in progress and 32% completed.

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RIVERSIDE WSS

Riverside WSS Cost Cost incurred to Percentage of

date Completion

Riverside WSS 9,949,079.00 6,343,325.00 64%

expansion projects

Total 9,949,079.00 6,343,325.00 64%

Riverside WSS

Progress in the year 2014 to 2015 showed 6% which is minimal compared to other

projects. On the other hand, a lot of projects has been completed in the year 2015 and being

classified as PPE in 2016. The status of the remaining projects for 2016 is 63%.

TORIL WSS

Toril WSS Cost Cost incurred to Percentage of

date Completion

Exploratory drilling of 7,128,103.00 5,766,775.00 81%

one (toril PW#3) with

200m depth pilot hole

Total 7,128,103.00 5,766,775.00 81%

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Toril WSS

No projects has been accomplished for Toril WSS. Only 79% significant progress for

2015 and 80% for 2016.

TAMUGAN WSS

Tamugan WSS Cost Cost incurred to Percentage of

date Completion

Rehabilitation of Water 3,908,393.00 1,615,501.00 41%

Supply system at

Tamugan

Pipeline imprv't along 92,000,000.00 56,291,190.00 61%

Tamugan road

Pipeline improvement 30,636,094.00 20,201,389.00 66%

from Tamugan reservoir

no.1

Pipeline imprv't from 61,962,284.00 38,101,254.00 61%

junction of Bacaca to

DPWH Tamugan

Pipeline imprv't Traversing 32,508,793.00 17,386,811.00 53%

Davao - Agusan road to

Tamugan

43 | P a g e
Const'n of 3 units 500 69,917,888.00 13,694,822.00 20%

cu.m. Tamugan steel

reservoir nos. 2,3 and 4.

Pipeline imprt'n along 105,924,930.00 58,067,010.00 55%

Tamugan from junction

Mc Arthur Highway

Pipeline improvement 107,578,810.00 65,744,361.00 61%

from Mintal to Tamugan

Construction of facilities of 64,930,923.00 26,752,791.00 41%

Tamugan DCWD

improvement of trans.

Line

Pipeline imprv't from 127,232,000.00 103,025,201.00 81%

Circumferential road to

Tamugan under TSWD

part A

Pipeline imprvt'n at 155,422,095.00 106,258,375.00 68%

northern part of Tamugan

WSS

44 | P a g e
Pipeline imprt'n 192,977,790.00 120,416,222.00 62%

Traversing Davao-

Tamugan from Agusan

road under TSWDP part

TOTAL 1,045,000,000.00 627,554,927.00 60%

Tamugan WSS

Tamugan WSS is one of the new project of DCWD

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OTHER PROJECTS

Other Projects Cost Cost incurred to Percentage of

date completion

Design and construction of 599,696,282.00 525,499,477.00 88%

DCWD Mid-rise Office Building

at Matina

Pipeline improv't along Quimpo 139,917,681.00 18,250,358.00 13%

Blvd

Instll'n of 200mm pressure 1,630,000.00 509,681.00 31%

Regulating valve & looping of

existing 100mm PVC Pipe

Construction of PAMD storage 815,000.00 51,600.00 6%

Building and fabrication

workshop

Construction of DCWD SM 2,668,522.00 2,276,667.00 85%

lanang premier Payment center

Construction of PAMD Storage 2,000,000.00 160,584.00 8%

building & fabrication phase 2

46 | P a g e
Construction of DCWD Felcris 1,604,300.00 1,501,395.00 94%

Centrale Payment center

Mainline improvement of DCWD 12,565,940.00 8,079,805.00 64%

project A

Mainline improvement of DCWD 6,869,000.00 3,858,414.00 56%

project B

Mainline improvement of DCWD 5,903,886.00 799,071.00 14%

project C

Tapping of water distribution 277,334.00 55%

system Catalunan Pequeno

500,000.00

TOTAL 774,170,611.00 561,264,386.00 72%

Other Projects

Significant progress by 38% from 2015 to 2016. Other projects include the other PPE

such as infrastructure, buildings, and etc.

FEASIBILITY STUDY

FEASIBILITY STUDY Cost Cost incurred to date Percentage of

47 | P a g e
completion

Ground assessment 21,000,000.00 18,543,471.00 88%

&devt of groundwater

model for davao city

aquifiers and water

safety plan

TOTAL 21,000,000.00 18,543,471.00 88%

Feasibility Study

Expenses incurred in this area are payments to experts who are to conduct further study

for the improvement and betterment of the entity.

TUGBOK WSS

TUGBOK WSS cost Cost incurred Percentage of

to date completion

Water supply system at 1,869,000.00 1,337,753.00 72%

Biao Guianga, Tugbok

District.

Exploratory Drilling of 7,224,185.00 1,038,809.00 14%

Tugbok PW#9 with 200mm

48 | P a g e
depth pilot hole.

Construction of concrete 1,391,478.00 751,115.00 54%

meter box, by-pass line &

flow meter

Construction of 1500 cu.m. 13,163,733.00 1,220,504.00 9%

Tugbok RCGR no. 3

Construction of Tugbok 40,354,407.00 13,500,435.00 33%

Reservoir no. 5

TOTAL 64,002,803.00 17,848,616.00 28%

Tugbok WSS

Significant progress happen to the project from 2014-2015 by 54%. Furthermore, there

are projects that has been completed in 2015 which are classified as PPE in 2016. The

remaining project that are still in progress has the status of 28% being complete.

SUMMARY OF DCWD PROJECTS

WATER SUPPLY TOTAL COST COST INCURRED % OF

SYSTEM TO DATE COMPLETION

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CABANTIAN WSS 36,401,518.00 33,148,972.00 91%

BINUGAO WSS 7,962,814.00 71,349.00 1%

DUMOY WSS 375,266,914.00 204,960,691.00 55%

PANACAN WSS 16,426,364.00 5,338,637.00 33%

RIVERSIDE WSS 9,949,079.00 6,343,325.00 64%

TORIL WSS 7,128,103.00 5,766,775.00 81%

TUGBOK WSS 64,002,803.00 17,848,616.00 28%

TAMUGAN WWS 1,045,000,000.00 627,554,927.00 60%

OTHER PROJECTS 774,170,611.00 561,264,386.00 72%

FEASIBILITY STUDY 21,000,000.00 18,543,471.00 88%

TOTAL PHP2,357,308,206.00 PHP1,480,841,149.00

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