2017 AFR GCs Volume I PDF

CY 2017
Annual
Financial
Report
Government Corporations
Volume I
FY 2017 Annual Financial Report for
Volume I
Table of Contents
Executive Summary
Legal Framework ......................................................................................................... v

Objectives .................................................................................................................... v
Contents and Limitations ............................................................................................. v
Methodology of Combination .................................................................................... vii
Financial Highlights ................................................................................................... vii
Guide to Users........................................................................................................... viii
Part I – Financial Highlights
 Financial Position................................................................................................... 1
 Financial Performance ........................................................................................... 6
 Changes in Net Assets/Equity.............................................................................. 10
 Cash Flows ........................................................................................................... 10
 Comparison of Budget and Actual Amounts ....................................................... 11
Part II – Combined Financial Statements
 Combined Statement of Financial Position.......................................................... 13

 Combined Statement of Comprehensive Income ................................................ 15
 Combined Statements of Changes in Net Assets/Equity ..................................... 16
 Combined Statement of Cash Flows .................................................................... 18
 Combined Statement of Comparison of Budget and Actual Amounts ............... 19
 Notes to Combined Financial Statements ............................................................ 20
Part III – Schedules and Annexes
Schedules
1 Aging of Accounts Receivable ..................................................................... 74
2 Aging of Unliquidated Cash Advance for Operating Expenses ................... 79
i
3 Aging of Unliquidated Cash Advances for Payroll ...................................... 81
4 Aging of Unliquidated Cash Advances to Special Disbursing Officers ....... 82
5 Aging of Unliquidated Cash Advances to Officers and Employees ............. 84
6 Aging of Accounts Payable .......................................................................... 88
7 Summary of Property, Plant and Equipment ................................................ 92
8 Top 20 Government Corporation Taxpayers .............................................. 113
9 Top 20 Government Corporations with Dividend Remittances ................. 114
10 Breakdown of Domestic Loans ................................................................... 115
11 Breakdown of Foreign Borrowings ............................................................ 121
12 Subsidy Received from other Government Agencies ................................. 128
13 Annual Growth in Subsidy Income from the National Government .......... 129
14 Summary of Representation, Extraordinary and Miscellaneous Expenses,
Advertising, Promotional and Marketing Expenses,
Confidential, Intelligence and Consultancy Services ............................. 131
15 Top 20 Government Corporations with Highest Amount of Total
Assets ...................................................................................................... 136
Liabilities ................................................................................................ 137
17 Top 20 Government Corporations with Highest Amount of
Total Equity ............................................................................................ 138
18 Top 20 Government Corporations with Highest Amount of
Total Income ........................................................................................... 139
Expenditures ........................................................................................... 140
Annexes
A Summary of Data of Government Corporations by Cluster
(Name/Acronym/Parent/Controlling/GBE or Non-GBE) ...................... 141
B Summary of Functions of Government Corporations ................................. 151
C Summary of Accomplishments of Selected Government Corporations ..... 163
D List of Government Corporations with Acronym and Status of Audit ....... 191
E List of Government Corporations and Accounting Standards Adopted ...... 197
F List of Government Corporations with Unsubmitted Financial
Statements ............................................................................................... 201
Part IV – Summary of Audit Results
Summary of Audit Results ....................................................................................... 202

Summary of Audit Opinions .................................................................................... 203
Summary of Significant and Common Audit Observations and Corresponding
Recommendations ............................................................................................... 205
ii
Suspensions, Disallowances and Charges................................................................ 323
Summary of Implementation of Prior Years’ Audit Recommendations ................. 324
Gender and Development Consolidated Common Audit Findings ......................... 326
Part V – Financial Statements
Combined Financial Statements, by Cluster

Combined Statement of Financial Position........................................................ 360
Combined Statement of Comprehensive Income .............................................. 372
Combined Statement of Changes in Net Assets/Equity..................................... 378
Combined Statement of Cash Flows .................................................................. 387
Combined Statement of Comparison of Budget and Actual Amounts .............. 393
Financial Statements by Government Corporations

Statement of Financial Position ......................................................................... 397
Statement of Comprehensive Income ................................................................ 565
Statement of Changes in Net Assets/Equity ...................................................... 639
Statement of Cash Flows ................................................................................... 741
Statement of Comparison of Budget and Actual Amounts ................................ 843
Tables
I-1 Comparative Composition of Current Assets............................................ 2
I-2 Comparative Composition of Non-Current Assets ................................... 3
I-3 Comparative Composition of Current Liabilities ...................................... 4
I-4 Comparative Composition of Non-Current Liabilities.............................. 5
I-5 Comparative Composition of Income ....................................................... 7
I-6 Comparative Composition of Expenses .................................................... 9
I-7 Comparative Composition of Net Assets/Equity .................................... 10
I-8 Comparative Cash Flows, by Activity for CYs 2017 and 2016 .............. 11
IV-1 Summary of Selected Significant and Peculiar Audit Observations and
Recommendations on Government Corporations in NCR and
Stand-Alone agencies in the Region ................................................ 206
IV-2A Summary of Common but Significant Observations and
Recommendations on Government Corporations in NCR and
Stand-Alone agencies in the Region ................................................ 246
IV-2B Summary of Common but Significant Observations and
Recommendations (Water Districts in the Regions) ........................ 268
IV-3 Status of Issuance and Settlement of Audit Suspensions,
iii
Disallowances and Charges .............................................................. 324
IV-4 Summary of Agencies with Common GAD Audit Observations,
by Cluster ......................................................................................... 347
IV-5 Tabulation of Audit Opinion Rendered ................................................. 349
IV-6 Status of Implementation of Prior Years’ Audit Recommendations ..... 353
Charts
I-1 Financial Position for CYs 2017 and 2016 ............................................... 1
I-2 Composition of Total Assets for CY 2017 ................................................ 2
I-3 Composition of Total Liabilities for CY 2017 .......................................... 4
I-4 Comparative Components of Net Assets/Equity....................................... 6
I-5 Composition of Income for CY 2017 ........................................................ 7
I-6 Composition of Total Expenses for CY 2017 ........................................... 8
IV-1 Total Opinions Rendered per Type ....................................................... 205
IV-2 Status of Implementation of Prior Years’ Audit
Recommendations ............................................................................. 325
iv
EXECUTIVE SUMMARY
Legal Framework
The Commission on Audit (COA) is mandated under Section 4, Article IX-D of the
Philippine Constitution to submit to the President and the Congress, within the time fixed by
law, an Annual Financial Report (AFR) of the Government, its subdivisions, agencies and
instrumentalities, including government-owned or controlled corporations (GOCCs), and
recommend measures necessary to improve efficiency and effectiveness. This is also stated in
Section 41 (1) of Presidential Decree (P.D.) No. 1445, the Government Auditing Code of the
Philippines, which provides that the COA shall submit to the President and the Congress the
said Annual Report not later than the last day of September of each year.
The Government Accountancy Sector (GAS) prepares the AFR pursuant to Section 12, P.D.
No. 1445 and COA Resolution No. 2013-021 dated November 20, 2013, prescribing the
restructuring of the GAS, COA. This AFR covers the financial condition and results of
operations of GOCCs, including government financial institutions (GFIs) and their
subsidiaries, and water districts (WDs), collectively referred to in this Report as government
corporations (GCs).
Objectives
This 2017 AFR for GCs is prepared to sustain the policy of the government on transparency
and accountability. It is intended to serve as a useful tool to address the advocacy of various
groups such as the media, civil society, people’s organizations, non-government
organizations and the international community in attaining transparency in government
agencies and giving public access to financial information.
It aims to make available to a wide range of users the necessary information on financial
position, comprehensive income/financial performance, changes in net assets/equity and cash
flows, of all GCs. The wide range of users include, among others, the President, the executive
branch tasked to manage the affairs of the entire bureaucracy, and the legislative branch of
government during legislation including deliberations on bills proposals. Further, this Report
provides information that may be useful to the public, present and potential investors, lenders,
suppliers/creditors, and other stakeholders.
Contents and Limitations
This AFR for GCs covers the comparative combined financial statements (FSs) for CYs 2017
and 2016 of the 604 or 93.07 percent of the total 649 GCs under the audit jurisdiction of the
Corporate Government Sector (CGS) and Regional Offices of COA. The combined FSs
include the FSs received by GAS on July 31, 2018, the cut-off date of submission.
Volume I of this Report presents the overall combined FSs of 127 regular GCs or 96.21
percent of the 132 regular GCs, including 18 stand-alone entities located in the Regions, and
the combined FSs of 477 Water Districts (WDs). All WDs and 83 GCs, out of the 127 regular
GCs, are classified as government business enterprises (GBEs) and the remaining 44 GCs are
classified as non-GBEs. Of the 44 non-GBEs, only 42 GCs or 95.45 percent submitted the
v
Statement of Comparison of Budget and Actual Amounts. Volume II presents separately the
combined FSs and individual FSs of 477 WDs.
Of the 604 GCs, 435 or 72.02 percent were audited while 169 or 27.98 percent are either on
ongoing audit or are still to be audited. Most of the unaudited FSs pertain to WDs located in
the different regions.
This Report does not include the FSs of the National Livelihood Development Corporation
and the People’s Credit and Finance Corporation that ceased operations on December 31,
2017 and June 30, 2017, respectively. This also does not include the FSs of the Tarragona
WD, a newly created entity in Region XI. The three GCs have no comparative FSs for CYs
2017 and 2016.
The FSs of the Overseas Welfare Workers Administration (OWWA), now a national
government agency, are not included in this Report and are combined in the AFR for
National Government.
Part I presents the financial highlights of GCs for CY 2017 based on the overall financial
information from the combined FSs. Part II presents the combined FSs for CYs 2017 and
2016 composed of the following:
a. Statement of Financial Position;

b. Statement of Comprehensive Income;
c. Statement of Changes in Net Assets/Equity;
d. Statement of Cash Flows;
e. Statement of Comparison of Budget and Actual Amounts; and
f. Notes to Financial Statements.
The Statement of Comprehensive Income (SCI) is a combination of the SCIs submitted by

GBEs and Statements of Financial Performance submitted by non-GBEs. Consistent with
previous years’ reports, the combined FSs present the comparative figures for CYs 2017 and
2016. The CY 2016 figures were restated and do not correspond to the figures presented in
the previous year’s AFR due to prior period errors, changes in accounting estimates, and
other adjustments.
Part III presents significant financial information pertaining to GCs, which include among
others, schedules of: a) aging of accounts receivable and accounts payable; b) aging of
unliquidated cash advances for: operating expenses, payroll, special disbursing officers, and
officers and employees; c) summary of property, plant and equipment; d) top 20 GCs
taxpayers, and with dividend remittances; e) breakdown of domestic and foreign loans; f)
subsidy received from national government (NG) and annual growth in subsidy received from
NG; and g) summary of confidential, extraordinary and miscellaneous expenses and
consultancy services shown as Schedules 1 to 19 of this Report. Included also as Annexes A -
F are: the list of GCs with acronyms and their business location, the functions and highlights
of accomplishments of selected GCs, which were lifted from their respective
Accomplishment Reports and Annual Audit Reports; status of audit, accounting standards
adopted; and list of GCs with unsubmitted FSs.
Part IV presents the Summary of Audit Results which includes the type of audit opinions
rendered, summary of selected significant and common audit observations with
vi
corresponding recommendations, summary of issuance and settlement of suspensions,
disallowances and charges, and the summary of implementation of prior years’ audit
recommendations. The audit opinion rendered on the fairness of presentation of each GC’s
FSs was a representation and sole responsibility of the auditor concerned. Part V presents the
combined FSs of GCs by cluster and individual FSs of each GC, categorized as GBE or non-
GBE, by cluster.
Methodology of Combination
The financial information presented in this Report was derived from the FSs submitted by the
GCs or the Annual Audit Reports (AARs) published in the COA website, combined at the
GAS. For WDs, the individual components of the FSs were initially combined per province
in each region. Results were further combined to arrive at the regional level combination. The
two-level combinations (provincial and regional) were prepared at the respective COA
regional offices while the WD national level combination, composed of 17 regions, was
processed at the GAS.
The GCs prepared their FSs in accordance with applicable financial reporting frameworks,
particularly: Philippine Financial Reporting Standards (PFRS), Philippine Public Sector
Accounting Standards (PPSAS), and the generally accepted accounting principles (GAAP),
as discussed in the Notes to FSs. Of the 604 GCs included in this Report, 574 GCs or 95.03
percent adopted the Revised Chart of Accounts (RCA), 26 GCs still used the Philippine
Government Chart of Accounts (PGCA), while the Bangko Sentral ng Pilipinas (BSP),
Development Bank of the Philippines, Land Bank of the Philippines, and the Philippine
Postal Savings Bank, adopted the accounts aligned with the BSP Manual of Accounts in the
preparation of the FSs. For purposes of combination, the accounts were reclassified to
conform to the RCA.
Financial Highlights
For CY 2017, GCs had a combined total assets of P12.640 trillion, total liabilities of P9.366
trillion and net equity of P3.273 trillion. These amounts are greater than CY 2016 total assets
of P12.022 trillion by P618.19 billion or 5.14 percent, total liabilities of P9.050 trillion by
P316.36 billion or 3.50 percent, and total equity of P2.971 trillion by P301.83 billion or 10.16
percent.
Total revenue of P1.141 trillion was higher by P44.40 billion or 4.05 percent from the
previous year’s amount of P1.096 trillion. On the other hand, total expenses of P924.09
billion was less by P31.31 billion or 3.28 percent compared with the previous year’s expenses
of P955.40 billion.
Total income tax expense of P13.19 billion was higher by P4.31 billion or 48.50 percent from
P8.88 billion in previous year. Net Assistance/Subsidy received by GCs totaling P77.80
billion was less by P15.13 billion or 16.28 percent compared with the previous year of P92.93
billion.
Total comprehensive income realized by GCs of P287.82 billion was higher by P74.85 billion
or 35.15 percent compared with P212.87 billion in CY 2016.
vii
Guide to Users
This AFR for the GCs consists of two volumes. Volume I presents the executive summary,
financial highlights, combined FSs, schedules and annexes, summary of audit results and FSs
of GCs by Cluster, while Volume II contains separately the financial highlights, combined
FSs with corresponding schedules and annexes, and FSs of WD by Region.
For enhanced financial reporting and greater transparency, the electronic copy of this Report,
and the complete details of the audit observations and recommendations concerning WDs are
presented in the individual AARs which are published in the COA website www.coa.gov.ph.
viii
PART I
FINANCIAL HIGHLIGHTS
PART I - FINANCIAL HIGHLIGHTS
Financial Position
As at December 31, 2017, the aggregate assets and liabilities of government corporations
(GCs), including water districts (WDs) were P12.640 trillion and P9.367 trillion, respectively,
resulting in total net assets/equity of P3.273 trillion. Compared to CY 2016, there were
increases in assets, liabilities and net assets/equity of 5.14 percent, 3.50 percent and 10.16
percent, respectively. Chart I-1 shows the graphical comparison of financial position for CYs
2017 and 2016.
Chart I-1 Financial Position for CYs 2017 and 2016

(in billion pesos)
14,000
12,640.04
12,021.85
12,000
10,000 9,366.73
9,050.37
8,000
6,000
4,000 3,273.30 2,971.47
2,000
-
Total Assets Total Liabilities Total Net Assets/Equity
2017 2016
Assets – P12.640 trillion
Total assets of P12.640 trillion registered an increase of P618.19 billion or 5.14 percent from
previous year of P12.022 trillion. It is composed of current assets of P7.756 trillion and non-
current assets of P4.884 trillion, which are 61.36 percent and 38.64 percent, respectively, of
total assets. The top three GCs with highest amount of total assets are: Bangko Sentral ng
Pilipinas (BSP) with P4.667 trillion, Land Bank of the Philippines (LBP) with P1.624 trillion
and Government Service Insurance System (GSIS) with P1.124 trillion, or 36.92 percent,
12.85 percent and 8.89 percent of total assets, respectively. Schedule 15 of this Report shows
the top 20 GCs in terms of total assets. Chart I-2 shows the composition of total assets.
1
Chart I-2 Composition of Total Assets for CY 2017
(in trillion pesos)
P4.88 or 38.61 %
Current Assets
P 7.76 or 61.39 % Non-Current Assets
Current Assets – P7.756 trillion
Current assets of P7.756 trillion increased by P310.85 billion or 4.18 percent from the CY
2016 current assets of P7.445 trillion. It substantially consists of International Reserves of
P4.056 trillion or 52.30 percent of the current assets which was reported solely by the BSP
for its gold, foreign bank deposits, special drawing rights, and other cash and cash
equivalents. Next account with substantial amount is Receivables of P1.590 trillion or 20.50
percent, and Financial Assets of P1.004 trillion or 12.95 percent of the total current assets.
All current assets accounts registered increases compared with CY 2016 balances, as shown
in Table I-1.
Table I-1 Comparative Composition of Current Assets

(in million pesos)
Amount
Particulars 2016 Increase/ Percent
2017
(Restated) (Decrease)
Cash and Cash Equivalents 867,494.64 811,009.25 56,485.39 6.96
International Reserves 4,056,596.05 3,997,979.59 58,616.47 1.47
Financial Assets 1,004,147.46 933,221.54 70,925.93 7.6
Other Investments 71,762.25 69,634.19 2,128.06 3.06
Receivables 1,590,318.89 1,484,637.96 105,680.94 7.12
Inventories 67,011.52 58,268.71 8,742.81 15.00
Non-Current Assets Held for
Sale 17,450.76 14,071.57 3,379.19 24.01
Other Current Assets 81,113.53 76,221.58 4,891.94 6.42
Total 7,755,895.11 7,445,044.39 310,850.72 4.18
2
Non-current Assets – P4.884 trillion
Non-current assets of P4.884 trillion increased by P307.34 billion or 6.72 percent from CY
2016 non-current assets of P4.577 trillion. It substantially consists of Receivables of P1.529
trillion, Financial Assets of P1.363 trillion, and Property, Plant and Equipment of P1.055
trillion or 31.30 percent, 27.91 percent, and 21.59 percent, respectively. Table I-2 shows the
comparative composition of non-current assets for CYs 2017 and 2016.
Table I-2 Comparative Composition of Non-Current Assets

(in million pesos)
Amount
2017
Non-International Reserves
Foreign Assets 91,737.57 87,859.51 3,878.06 4.41
Financial Assets 1,363,031.35 1,186,055.96 176,975.39 14.92
Investments in Joint Venture 8,391.41 8,968.62 (577.20) (6.44)
Investments in
Associates/Affiliates 18,862.29 18,989.11 (126.82) (0.67)
Investments in Subsidiaries 241,813.35 238,984.48 2,828.87 1.18
Other Investments 130,861.27 133,916.14 (3,054.87) (2.28)
Receivables 1,528,959.83 1,492,854.59 36,105.25 2.42
Investment Property 319,846.71 263,226.13 56,620.58 21.51
Property, Plant and Equipment 1,054,587.43 1,034,107.50 20,479.93 1.98
Biological Assets 107.33 102.57 4.76 4.64
Intangible Assets 3,791.61 3,663.06 128.55 3.51
Deferred Tax Assets 17,529.63 18,501.53 (971.89) (5.25)
Other Non-Current Assets 104,620.40 89,572.87 15,047.53 16.8
Total 4,884,140.18 4,576,802.06 307,338.12 6.72
Liabilities – P9.367 trillion
Total Liabilities for CY 2017 of P9.367 trillion increased by P316.36 billion or 3.50 percent
compared with CY 2016 of P9.050 trillion. It is composed of current liabilities of P3.935
trillion and non-current liabilities of P5.431 trillion, which are 42.02 percent and 57.98
percent of total liabilities, respectively, as shown in Chart I-3. The top three GCs with highest
amount of total liabilities are: BSP with P4.586 trillion, LBP with P1.510 trillion, and Power
Sector Assets and Liabilities Management (PSALM) with P757.01 billion, or 48.96 percent,
16.12 percent and 8.08 percent, respectively. Schedule 16 presents the top 20 GCs with
highest liabilities.
3
Chart I-3 Composition of Total Liabilities for CY 2017
(in trillion pesos)
P3.94T or
42%
P5.43T or 58%
Current Liabilities
Non-Current Liabilities
Current Liabilities – P3.935 trillion
Total current liabilities of P3.935 trillion decreased by P179.39 billion or 4.36 percent from
CY 2016 total current liabilities of P4.115 trillion. The biggest portion of current liabilities
for CY 2017 pertains to Deposit Liabilities of P2.332 trillion or 59.27 percent, consisting of
local and foreign currency deposits of the clients of the BSP, Development Bank of the
Philippines (DBP), LBP, Al-Amanah Islamic Investment Bank of the Philippines (AAIIBP),
and Philippine Postal Savings Bank, Incorporated (PPSBI). Table I-3 shows the comparison
of current liabilities for CYs 2017 and 2016.
Table I-3 Comparative Composition of Current Liabilities

(in million pesos)
Amount
2017
Financial Liabilities 682,890.11 686,358.19 (3,468.07) (0.51)
Deposit Liabilities 2,332,474.52 2,480,515.37 (148,040.84) (5.97)
Inter-Agency Payables 422,058.83 421,225.31 833.53 0.20
Intra-Agency Payables 308,035.83 385,004.56 (76,968.73) (19.99)
Trust Liabilities 71,439.79 53,516.84 17,922.96 33.49
Deferred Credits/Unearned
Income 33,441.59 19,329.19 14,112.40 73.01
Provisions 10,774.44 2,119.14 8,655.30 408.43
Other Payables 74,368.30 66,800.40 7,567.90 11.33
Total 3,935,483.42 4,114,868.99 (179,385.57) (4.36)
4
Non-Current Liabilities – P5.431 trillion
Non-current liabilities of P5.431 trillion increased by P495.74 billion or 10.04 percent from
CY 2016 non-current liabilities of P4.935 trillion. The biggest portion of non-current
liabilities for CY 2017 pertains to Deposit Liabilities of P2.043 trillion or 21.82 percent
consisting of local and foreign currency deposits of the clients of the BSP, DBP and LBP.
The next biggest portion pertains to Currency Issued of P1.267 trillion or 13.53 percent which
represents Philippine currency notes and coins issued by BSP. Table I-4 shows the
comparison of CYs 2017 and 2016 non-current liabilities.
Table I-4 Comparative Composition of Non-Current Liabilities

(in million pesos)
Amount
2017
Restated (Decrease)
Financial Liabilities 869,396.80 908,673.82 (39,277.03) (4.32)
Currency Issued 1,267,482.32 1,124,192.58 143,289.74 12.75
Deposit Liabilities 2,043,477.95 1,799,463.44 244,014.51 13.56
Inter-Agency Payables 446,215.93 447,858.28 (1,642.34) (0.37)
Intra-Agency Payables 31.23 25.77 5.46 21.18
Trust Liabilities 47,824.45 43,735.09 4,089.37 9.35
Deferred Credits/Unearned
Income 300,489.74 240,836.66 59,653.08 24.77
Provisions 34,058.88 29,872.32 4,186.56 14.01
Deferred Tax Liabilities 12,627.79 10,793.72 1,834.07 16.99
Other Payables 409,643.96 330,053.13 79,590.83 24.11
Total 5,431,249.05 4,935,504.80 495,744.24 10.04
With total liabilities of P9.367 trillion and total assets of P12.640 trillion, the debt/asset ratio
of GCs is 0.7. Total liabilities divided by total assets or the debt/asset ratio shows the
proportion of an entity’s assets which are financed through debt. If the ratio is less than 0.5,
most of the entity’s assets are financed through equity. If the ratio is greater than 0.5, most of
the entity's assets are financed through debt.
Net Assets/Equity – P3.273 trillion
In CY 2017, the net assets/equity of the combined financial position of the GCs in the amount
of P3.273 trillion registered an increase of P301.83 billion or 10.16 percent than the previous
year of P2.971 trillion. Chart I-4 shows the comparative components of the net assets/equity
for CYs 2017 and 2016.
5
Chart I-4 Comparative Components of Net Assets/Equity
(in billion pesos)
Government Equity 114.55

137.13
Revaluation Surplus 153.30
152.57
Retained Earnings/(Deficit) 2,045.53
2,246.51
Stockholders' Equity
321.70
350.02
(0.04)
Cumulative Translation Adjustment (0.12)
18.06
Cumulative Changes in Fair Value 24.98
Members' Equity 318.37
362.21
2,971.47
Total Net Assets/Equity 3,273.30
(1,000.00) - 1,000.00 2,000.00 3,000.00 4,000.00
The top three GCs with highest amount of total Net Assets/Equity are: GSIS with P1.104
trillion, Social Security System (SSS) with P492.09 billion, and Home Development Mutual
Fund (HDMF) with P431.53 billion, or 33.75 percent, 15.03 percent and 13.18 percent,
respectively. Schedule 17 presents the top 20 GCs with highest net assets/equity.
Financial Performance
The aggregate comprehensive income of GCs for CY 2017 is P287.82 billion, which is
P74.85 billion or 35.15 percent greater than that of P212.97 billion earned in CY 2016.
Combined income and combined expenses for CY 2017 posted at P1.141 trillion and P924.09
billion, respectively. GCs incurred income tax expense amounting to P13.19 billion. Of the
P287.82 billion comprehensive income of GCs, P77.80 billion or 27.03 percent was sourced
from net assistance/subsidy. The top 20 GCs ranked in terms of highest total income and total
expenses are presented in Schedules 18 and 19, respectively.
Income – P1.141 trillion
The GCs recorded combined total income of P1.141 trillion in CY 2017. This was an increase
of P44.40 billion or 4.05 percent compared with CY 2016 total income of P1.096 trillion. The
composition of total Income for CY 2017 is shown in Chart I-5.
6
Chart I-5 Composition of Income for CY 2017
(in billion pesos)
Shares, Grants and

Donations, P20.44 or
1.79%
Gains, P164.24 or
Service and Business 14.40%
Income, P923.99 or
81.01%
Other Non-Operating
Income, P29.08 or
2.55%
Tax Revenue, P2.85 or

0.25%
Table I-5 shows the comparative composition of income for CYs 2017 and 2016.
Table I-5 Comparative Composition of Income

(in million pesos)
Amount
2017
Tax Revenue 2,852.45 2,414.94 437.51 18.12
Service and Business Income 923,989.87 861,112.77 62,877.11 7.3
Shares, Grants and Donations 20,435.91 20,341.87 94.05 0.46
Gains 164,237.22 194,226.23 (29,989.01) (15.44)
Other Non-Operating Income 29,082.06 18,098.74 10,983.32 60.69
Total 1,140,597.52 1,096,194.55 44,402.97 4.05
The Service and Business Income of P923.99 billion for CY 2017 was posted as the highest
share of 81.01 percent of the GCs’ total income. SSS and GSIS reported the highest service
and business income of P185.93 billion or 20.12 percent and P162.20 billion or 17.55
percent, respectively.
The Other Non-Operating Income of P29.08 billion was an increase of P10.98 billion or
60.69 percent compared with CY 2016 of P18.10 billion. This was composed of an increase
in total Miscellaneous Income of P17.32 billion and a decrease in Reversal of Impairment
Loss of P6.34 billion.
The top 10 GCs with total income of P942.63 billion representing 82.64 percent of the total
income of P1.141 trillion for CY 2017 are as follows:
7
Amount Percent to
Name of GCs
(in thousand pesos) total
GSIS 276,069,438 24.20
SSS 202,390,265 17.74
BSP 93,387,843 8.19
PSALM 79,590,413 6.98
PHIC 62,993,602 5.52
PAGCOR 60,153,145 5.27
LBP 54,095,908 4.74
HDMF 54,019,515 4.74
PDIC 31,381,778 2.75
Water Districts 28,552,020 2.50
Sub-total 942,633,926 82.64
Other GCs 197,963,591 17.36
Total 1,140,597,517 100.00
.
Expenses – P924.09 billion
GCs’ total expenses of P924.09 billion for CY 2017 dropped by P31.31 billion or 3.28
percent from CY 2016 total expenses of P955.40 billion. Chart I-6 shows the composition of
Total Expenses for CY 2017.
Chart I-6 Composition of Total Expenses for CY 2017

(in billion pesos)
9.72% Personnel Services

17.74%
4.19% Maintenance and Other Operating
9.90% Expenses
Financial Expenses
58.45%
Direct Costs
Non-Cash Expenses
The top 10 GCs with total expenses of P772.93 billion representing 83.64 percent of the total
expenses of P924.09 billion for CY 2017 are as follows:
8
Amount Percent to
Name of GCs
(in thousand pesos) total
SSS 182,656,443 19.77
GSIS 181,282,900 19.62
PHIC 117,073,700 12.67
PSALM 82,728,461 8.95
BSP 68,723,069 7.44
LBP 38,270,930 4.14
NFA 29,552,728 3.20
PDIC 25,693,180 2.78
HDMF 23,747,557 2.57
Water Districts 23,199,677 2.51
Sub-total 772,928,645 83.64
Other GCs 151,162,749 16.36
Total 924,091,394 100.00
Table I-6 shows the comparative composition of Expenses for CYs 2017 and 2016.
Table I-6 Comparative Composition of Expenses

(in million pesos)
Amount
2017
Personnel Services 89,833.10 85,158.22 4,674.87 5.49
Maintenance and Other
Operating Expenses 540,126.83 489,816.22 50,310.60 10.27
Financial Expenses 91,485.85 101,781.23 (10,295.38) (10.12)
Direct Costs 38,710.33 50,078.28 (11,367.95) (22.70)
Non-Cash Expenses 163,935.29 228,565.77 (64,630.49) (28.28)
Total 924,091.39 955,399.73 (31,308.34) (3.28)
Maintenance and Other Operating Expenses (MOOE) of P540.13 billion represents 58.45
percent or the largest share of the total expenses of P924.09 billion. The top four GCs that
reported the highest MOOE were as follows: SSS – P173.68 billion, Philippine Health
Insurance Corporation (PHIC) – P112.16 billion, GSIS – P98.71 billion, and PSALM –
P54.05 billion.
Members’ Benefits of P374.63 billion constituted 69.36 percent of the total MOOE. A total
of P374.51 billion or 99.94 percent of the total Members’ Benefits was shared by the
following GCs: SSS – P170.68 billion or 45.56 percent, PHIC – P110.49 billion or 29.49
percent, and GSIS – P93.34 billion or 24.91 percent.
Non-Cash expenses consist of Depreciation of P30.20 billion, Amortization of P652.41

million, Impairment Loss of P17.41 billion, Losses of P115.59 billion, and Discounts and
Rebates of P77.74 million. Of the total non-cash expenses, 70.51 percent pertains to Losses.
9
Comprehensive Income – P287.82 billion
The CY 2017 total comprehensive income of P287.82 billion was P74.85 billion or 35.15
percent higher than the CY 2016 total comprehensive income of P212.97 billion. This was a
result of increase in Profit/(Loss) after Tax of P71.40 billion, decrease in net
assistance/subsidy of P15.13 billion, and increase in other comprehensive income of P18.58
billion.
Changes in Net Assets/Equity – P3.273 trillion
For CY 2017, the Combined Statement of Changes in Net Assets/Equity showed a total net
assets/equity of P3.273 trillion, which was an increase of P301.83 billion or 10.16 percent
compared with CY 2016 of P2.971 trillion. Of the total net assets/equity of P3.273 trillion,
Retained Earnings/(Deficit) of P2.246 trillion or 68.63 percent contributed the biggest share,
followed by Members' Equity of P362.21 billion or 11.07 percent. Table I-7 shows the
comparison of CYs 2017 and 2016 Net Assets/Equity.
Table I-7 Comparative Composition of Net Assets/Equity

(in million pesos)
Amount
2017
Government Equity 137,131.59 114,548.75 22,582.83 19.71
Revaluation Surplus 152,572.30 153,301.00 (728.70) (0.48)
Retained Earnings/(Deficit) 2,246,511.89 2,045,527.74 200,984.14 9.83
Stockholder’s Equity 350,016.94 321,700.89 28,316.05 8.80
Cumulative Translation
Adjustment (123.52) (44.07) (79.45) 180.25
Cumulative Changes in Fair
Value of Investments 24,983.62 18,065.59 6,918.04 38.29
Members’ Equity 362,210.01 318,372.76 43,837.25 13.77
Total 3,273,302.82 2,971,472.66 301,830.16 10.16
Cash Flows
The Statement of Cash Flows (SCFs) summarizes all the cash activities of the GCs. It
provides information on the cash receipts and cash payments during the year, classified as
operating, investing, and financing activities. Operating activities include cash generated
from revenues and costs incurred excluding those associated with long-term investments on
capital items or investment in securities. Investing activities include cash paid for acquiring
capital assets, and cash received from disposal of assets, investments in securities, as well as
the proceeds from the subsequent sale of investments in securities. Financing activities
include cash received from debt holders and principal repayments to creditors.
The combined SCFs of GCs for the year ended December 31, 2017 shows a net increase in
cash flows of P193.25 billion. In addition to this amount, the effects of exchange rate changes
on cash and cash equivalents of P25.13 billion, and cash and cash equivalents as at January 1,
10
2017 of P1.237 trillion, resulted in total cash and cash equivalents of P1.455 trillion as at
year-end. Thus, there was an increase of P218.38 billion or 17.65 percent from CY 2016
restated cash balance of P1.237 trillion, as shown in Table I-8 on Comparative Cash Flows,
by Activity.
Table I-8 Comparative Cash Flows, by Activity, CYs 2017and 2016

(in million pesos)
Amount
2017
Cash Flows from Operating Activities
Cash Inflows 1,830,622.69 1,692,199.47 138,423.22 8.18
Cash Outflows 1,478,250.62 1,435,468.27 42,782.36 2.98
Net Cash Provided by/(Used in)
Operating Activities 352,372.07 256,731.21 95,640.86 37.25
Cash Flows from Investing Activities
Cash Inflows 791,542.51 669,120.45 122,422.07 18.30
Cash Outflows 990,525.85 980,811.21 9,714.64 0.99
Net Cash Provided By/(Used In)
Investing Activities (198,983.34) (311,690.77) 112,707.43 (36.16)
Cash Flows from Financing Activities
Cash Inflows 1,146,035.80 1,223,873.81 (77,838.01) (6.36)
Cash Outflows 1,106,170.27 1,201,357.08 (95,186.82) (7.92)
Financing Activities 39,865.53 22,516.73 17,348.80 77.05
Net Increase/(decrease) in Cash 193,254.26 (32,442.83) 225,697.09 (695.68)
Effects of Exchange Rate Changes on
Cash and Cash Equivalents 25,126.03 160,416.75 (135,290.71) (84.34)
Cash and Cash Equivalents,
January 1, 2017 1,236,945.30 1,108,971.38 127,973.92 11.54
Cash and Cash Equivalents,
December 31, 2017 1,455,325.59 1,236,945.30 218,380.29 17.65
Comparison of Budget and Actual Amounts
With the adoption of Philippine Public Sector Accounting Standards (PPSAS) 24 on

Presentation of Budget Information in the FSs, the Statement of Comparison of Budget and
Actual Amounts (SCBAA) is required as an additional component of the FSs for non-
government business enterprises (GBEs). Philippine Application Guidance No. 4 on PPSAS
1 – Presentation of Financial Statements provides that a separate additional FSs for
comparison of budget and actual amounts shall be prepared, since the FSs and budget of
national government agencies, local government units and GCs classified as Non-GBEs are
not on the same accounting basis.
Preparation of the SCBAA is also required to ensure that public sector entities will discharge
their accountability obligations and enhance the transparency of their FSs by demonstrating
compliance with the approved budgets for which they are held publicly accountable.
11
Based on the combined CY 2017 SCBAA presented in Part II of this Report, the final
budgeted and actual receipts totaled P377.14 billion and P249.88 billion, respectively, while
final budgeted and actual payments amounted to P477.50 billion and P267.63 billion,
respectively.
12
PART II
COMBINED
FINANCIAL STATEMENTS
Republic of the Philippines
Combined Statement of Financial Position
As at December 31, 2017
(in thousand pesos)
NOTE 2017 2016
(Restated)
ASSETS
Current Assets
Cash and Cash Equivalents 5 867,494,643 811,009,251
International Reserves 6 4,056,596,053 3,997,979,588
Financial Assets 7 1,004,147,464 933,221,538
Other Investments 8 71,762,248 69,634,192
Receivables 9 1,590,318,894 1,484,637,959
Inventories 10 67,011,524 58,268,712
Non-Current Assets Held for Sale 11 17,450,758 14,071,572
Other Current Assets 12 81,113,526 76,221,583
Total Current Assets 7,755,895,109 7,445,044,394
Non-Current Assets
Non-International Reserves Foreign Assets 13 91,737,574 87,859,512
Financial Assets 14 1,363,031,348 1,186,055,956
Investments in Joint Venture 15 8,391,411 8,968,615
Investments in Associates/Affiliates 16 18,862,289 18,989,113
Investments in Subsidiaries 17 241,813,351 238,984,480
Other Investments 18 130,861,270 133,916,143
Receivables 19 1,528,959,832 1,492,854,585
Investment Property 20 319,846,711 263,226,133
Property, Plant and Equipment 21 1,054,587,426 1,034,107,498
Biological Assets 22 107,328 102,568
Intangible Assets 23 3,791,611 3,663,060
Deferred Tax Assets 24 17,529,634 18,501,528
Other Non-Current Assets 25 104,620,395 89,572,868
Total Non-Current Assets 4,884,140,179 4,576,802,060
Total Assets 12,640,035,288 12,021,846,454
LIABILITIES
Current Liabilities
Financial Liabilities 26 682,890,113 686,358,185
Deposit Liabilities 27 2,332,474,522 2,480,515,365
Inter-Agency Payables 28 422,058,833 421,225,306
Intra-Agency Payables 29 308,035,828 385,004,558
Trust Liabilities 30 71,439,792 53,516,837
Deferred Credits/Unearned Income 31 33,441,587 19,329,191
Provisions 32 10,774,444 2,119,145
Other Payables 33 74,368,297 66,800,399
Total Current Liabilities 3,935,483,416 4,114,868,987
13
(in thousand pesos)
NOTE 2017 2016
(Restated)
Financial Liabilities 34 869,396,796 908,673,823
Currency Issued 35 1,267,482,317 1,124,192,577
Deposit Liabilities 36 2,043,477,950 1,799,463,444
Inter-Agency Payables 37 446,215,932 447,858,277
Intra-Agency Payables 38 31,226 25,769
Trust Liabilities 39 47,824,453 43,735,086
Deferred Credits/Unearned Income 40 300,489,743 240,836,659
Provisions 41 34,058,880 29,872,322
Deferred Tax Liabilities 42 12,627,791 10,793,717
Other Payables 43 409,643,961 330,053,131
Total Non-Current Liabilities 5,431,249,049 4,935,504,804
Total Liabilities 9,366,732,464 9,050,373,792
EQUITY
Government Equity 137,131,586 114,548,754

Revaluation Surplus 152,572,301 153,301,003
Retained Earnings/(Deficit) 2,246,511,886 2,045,527,741
Stockholders' Equity 350,016,941 321,700,890
Cumulative Translation Adjustment (123,521) (44,075)
Cumulative Changes in Fair Value 24,983,625 18,065,589
Members' Equity 362,210,007 318,372,760
Total Net Assets/Equity 44 3,273,302,824 2,971,472,662
Total Liabilities and Net Assets/Equity 12,640,035,288 12,021,846,454
The notes on pages 41 to 62 form part of these statements.
Difference between totals and sum of components is due to rounding off.
14
Combined Statement of Comprehensive Income
For the year ended December 31, 2017
(in thousand pesos)
NOTE 2017 2016
(Restated)
Income
Tax Revenue 45 2,852,449 2,414,944

Service and Business Income 46 923,989,875 861,112,765
Shares, Grants and Donations 47 20,435,913 20,341,866
Gains 48 164,237,220 194,226,231
Other Non-Operating Income 49 29,082,060 18,098,742
Total Income 1,140,597,517 1,096,194,549
Expenses
Personnel Services 50 89,833,099 85,158,225

Maintenance and Other Operating Expenses 51 540,126,826 489,816,222
Financial Expenses 52 91,485,849 101,781,233
Direct Costs 53 38,710,332 50,078,280
Non-Cash Expenses 54 163,935,288 228,565,773
Total Expenses 924,091,394 955,399,733
Profit/(Loss) Before Tax 216,506,123 140,794,816

Income Tax Expense 55 13,190,163 8,882,173
Profit/(Loss) After Tax 203,315,960 131,912,643
Net Assistance/Subsidy 56 77,801,350 92,935,512
Net Income/(Loss) 281,117,310 224,848,155
Other Comprehensive Income/ 57
(Loss) for the Period 6,704,779 (11,875,881)
Comprehensive Income/(Loss) 58 287,822,089 212,972,274
15
Combined Statement of Changes in Net Assets/Equity
(in thousand pesos)
Cumulative
Retained Cumulative
Government Revaluation Stockholders' Changes in Members'
Earnings/ Translation TOTAL
Equity Surplus Equity Fair Value of Equity
(Deficit) Adjustment
Investments
Note
BALANCE AT JANUARY 1, 2016 148,590,581 163,513,367 1,892,923,946 310,682,304 - 30,187,771 301,421,320 2,847,319,290
ADJUSTMENTS: 3,870,107 (32,422) 3,288,592 20,000 - 21,190 (10,747,205) (3,579,737)

Add/(Deduct):
Changes in Accounting Policy (2,563) - (207,783) - - - - (210,346)
Prior Period Errors 4,008,476 - (685,821) - - 16,567 (10,747,205) (7,407,983)
Other Adjustments (135,806) (32,422) 4,182,196 20,000 - 4,624 - 4,038,592
RESTATED BALANCE AT JANUARY 1, 2016 152,460,688 163,480,945 1,896,212,538 310,702,304 - 30,208,961 290,674,115 2,843,739,553
16
CHANGES IN EQUITY FOR 2016 (37,911,934) (10,179,943) 149,315,203 10,998,586 (44,075) (12,143,372) 27,698,645 127,733,109
Add/(Deduct):
Issuances of Share Capital - - 2,500 11,092,814 - - - 11,095,314
Additional Capital from National Government 1,666,922 - - - - - - 1,666,922
Members' Contribution - - (82,106) - - - 32,587,761 32,505,655
Surplus/(Deficit) for the period 25,863,706 - - - - - - 25,863,706
Net Income/(loss) for the year - - 199,066,035 - - - - 199,066,035
Other Comprehensive Income/(loss) for the year 229,979 - - (57,416) - - 172,563
Dividends (186,947) - (43,515,593) - - - 14,250,781 (29,451,758)
Changes in fair value of available-for-sale securities - - - - - (12,143,140) - (12,143,140)
Other Adjustments (65,255,616) (10,409,922) (6,155,633) (94,228) 13,341 (232) (19,139,897) (101,042,187)
BALANCE AT DECEMBER 31, 2016, AS RESTATED 44 114,548,754 153,301,003 2,045,527,741 321,700,890 (44,075) 18,065,589 318,372,760 2,971,472,662
CHANGES IN EQUITY FOR 2017 22,582,833 (728,702) 200,984,144 28,316,050 (79,447) 6,918,035 43,837,247 301,830,161
Add/(Deduct):
Issuances of Share Capital - - - 3,184,000 - - - 3,184,000
Additional Capital from National Government 4,408,885 - - 500,000 - - - 4,908,885
Members' Contribution - - (89,858) - - - 33,880,667 33,790,809
Surplus/(Deficit) for the period 45,914,235 - - - - - - 45,914,235
(in thousand pesos)
Cumulative
Retained Cumulative
Government Revaluation Stockholders' Changes in Members'
Earnings/ Translation TOTAL
Equity Surplus Equity Fair Value of Equity
(Deficit) Adjustment
Investments
Note
Net Income/(loss) for the year - - 235,203,076 - - - - 235,203,076
Other Comprehensive Income/(loss) for the year (74,872) - - (122,302) - - (197,173)
Dividends (2,190,413) - (50,936,096) - - - 22,301,678 (30,824,831)
Changes in fair value of available-for-sale securities - - - - - 6,917,993 - 6,917,993
Other Adjustments (25,549,873) (653,830) 16,807,023 24,632,050 42,855 42 (12,345,098) 2,933,169
BALANCE AT DECEMBER 31, 2017 44 137,131,586 152,572,301 2,246,511,886 350,016,941 (123,521) 24,983,625 362,210,007 3,273,302,824

17
Combined Statement of Cash Flows
(in thousand pesos)
2017 2016
NOTE
(Restated)
CASH FLOWS FROM OPERATING ACTIVITIES

Cash Inflows 59 1,830,622,690 1,692,199,474
Cash Outflows 60 1,478,250,625 1,435,468,266
Net Cash Provided by/(Used in) Operating Activities 352,372,065 256,731,208
CASH FLOWS FROM INVESTING ACTIVITIES

Cash Inflows 61 791,542,514 669,120,446
Cash Outflows 62 990,525,854 980,811,212
Net Cash Provided By/(Used In) Investing Activities (198,983,340) (311,690,767)
CASH FLOWS FROM FINANCING ACTIVITIES

Cash Inflows 63 1,146,035,800 1,223,873,812
Cash Outflows 64 1,106,170,266 1,201,357,081
Net Cash Provided By/(Used In) Financing Activities 39,865,535 22,516,731
INCREASE/(DECREASE) IN CASH AND

CASH EQUIVALENTS 193,254,260 (32,442,828)
Effects of Exchange Rate Changes on Cash and

Cash Equivalents 65 25,126,035 160,416,749
CASH AND CASH EQUIVALENTS, JANUARY 1 1,236,945,299 1,108,971,378
CASH AND CASH EQUIVALENTS, DECEMBER 31 66 1,455,325,594 1,236,945,299
Difference between totals and sum of components is due to rounding off
18
Combined Statement of Comparison of Budget and Actual Amounts
(in thousand pesos)
TOTAL
Budgeted Amounts Actual Amounts Difference Final

on Comparable Budget and
Original Final Basis Actual
RECEIPTS
Services and Business Income 108,214,657 106,887,977 100,891,819 5,996,159
Assistance and Subsidy 172,135,477 172,137,242 72,125,060 100,012,183
Shares, Grants and Donations 15,403,491 12,636,625 25,531,964 (12,895,339)
Gains 326 1,199 1,108,220 (1,107,021)
Others 91,476,688 85,474,215 50,227,722 35,246,493
Total Receipts 387,230,639 377,137,259 249,884,784 127,252,475
PAYMENTS
Personnel Services 17,973,209 17,174,687 13,248,901 3,925,786
Maintenance and Other Operating
Expenses 147,653,008 148,708,270 98,337,204 50,371,066
Capital Outlay 156,503,071 156,945,169 42,497,531 114,447,638
Financial Expenses 69,965,916 69,723,267 66,181,936 3,541,331
Others 85,301,740 84,954,067 47,363,995 37,590,073
Total Payments 477,396,943 477,505,460 267,629,566 209,875,893
NET RECEIPTS/PAYMENTS (90,166,304) (100,368,201) (17,744,782) (82,623,419)
19
Notes to Combined Financial Statements
For the Year Ended December 31, 2017
1. GENERAL INFORMATION
The AFR for Government Corporations (GCs) for CY 2017 presents the combined
financial statements (FSs) of the 604 GCs, composed of 127 regular GCs and 477
Water Districts (WDs). The combined FSs include the FSs of 575 GCs received by
the Government Accountancy Sector (GAS), COA on the cut-off date of submission
on July 31, 2018 and FSs of 28 GCs based on Annual Audit Reports (AARs)
published in the COA website.
Of the 604 GCs, 83 regular GCs and 477 WDs are classified as government business
enterprises (GBEs) while 44 regular GCs are classified as non-GBEs. Of the 44 non-
GBEs, only 42 GCs or 95.45 percent submitted the required Statement of Comparison
of Budget and Actual Amounts.
2. REPORTING FRAMEWORK
Commission on Audit (COA) Circular No. 2015-003 dated April 16, 2015 classifies
GCs and other entities/instrumentalities with corporate powers as GBEs or non-GBEs
for purposes of determining the financial reporting framework applicable thereto. The
same circular prescribes the mandatory adoption of the Philippine Financial Reporting
Standards (PFRS) by all GBEs and the Philippine Public Sector Accounting Standards
(PPSAS) by non-GBEs.
A GBE is a government corporation which has all the following characteristics as

defined under the pertinent provisions of the International Public Sector Accounting
Standards (IPSAS) as adopted under the PPSAS:
a. is an entity with the power to contract in its own name;

b. has been assigned the financial and operational authority to carry on a
business;
c. sells goods and services, in the normal course of its business, to other entities
at a profit or full cost recovery;
d. is not reliant on continuing government funding to be a going concern (other
than purchases of outputs at arm's length); and
e. is controlled by a public sector entity.
COA Circular Nos. 2015-010 and 2016-006 dated December 1, 2015 and December
29, 2016, respectively, prescribe the adoption by GCs of the Revised Chart of
Accounts (RCA), and provide for the guidelines on the conversion of accounts from
the Philippine Government Chart of Accounts (PGCA) under the New Government
Accounting System (NGAS) to the RCA effective January 1, 2016.
20
COA Circular No. 2017-004 dated December 13, 2017 prescribes the implementing
guidelines on the preparation of FSs and other financial reports in accordance with the
PFRS and PPSAS by GBEs and non-GBEs, respectively, requiring submission to
COA starting reporting period ending December 31, 2017.
In compliance with the above-mentioned COA Circulars, 589 GCs submitted FSs for
CY 2017 adopting the RCA. On the other hand, the Bangko Sentral ng Pilipinas
(BSP), the Development Bank of the Philippines (DBP), the Land Bank of the
Philippines (LBP), and the Philippine Postal Savings Bank, Incorporated (PPSBI)
submitted FSs with accounts aligned to the BSP Manual of Accounts, while the
remaining 11 GCs used the PGCA under the NGAS. For purposes of inclusion in this
Report, their accounts were converted to the appropriate RCA accounts.
The GCs adopted varied accounting standards, and measurement and disclosure
practices. Of the 127 regular GCs included in this Report, 72 adopted the PFRS, 34
adopted the PPSAS, 18 adopted the GAAP, and three adopted the NGAS, while most
of the 477 WDs adopted the PFRS. The list of regular GCs and the accounting
standards adopted are presented in Annex E of this Report.
3. BASIS OF COMBINATION
The FSs were first combined by Cluster of GCs, classified as GBEs and non-GBEs,
under the audit jurisdiction of the Corporate Government Sector per COA Resolution
2012-019 dated December 20, 2012 as follows: Cluster 1 – Banking and Credit;
Cluster 2 – Social Security Services and Housing; Cluster 3 – Public Utilities; Cluster
4 – Industrial and Area Development; Cluster 5 – Agricultural and Natural Resources;
and Cluster 6 – Social, Cultural, Trading, Promotional and Other Services. The
overall FSs is the combination of FSs of GCs combined by Cluster.
The FSs of BSP Parent include the accounts of the Bank and its subsidiary, the
Philippine International Convention Center, Incorporated (PICCI) while the FSs of
Metropolitan Waterworks and Sewerage System (MWSS) include those of its
corporate and regulatory offices. Likewise, the FSs of the Tourism Promotions Board
(TPB) include its Special Account in the General Fund, which was consolidated with
its Corporate Fund.
The specific accounting policies adopted by the GCs and the standards, amendments
and interpretations are discussed extensively in the Notes to FSs included in the
respective AARs on individual GCs, which can be accessed at the COA website
www.coa.gov.ph.
21
4. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
4.1 Currency of presentation
All amounts presented in this Report are expressed in Philippine peso, rounded off to
the nearest thousands (P000), unless stated otherwise. The difference between the
total amount and sum of components presented in the tables is due to rounding off.
4.2 Accrual basis of accounting
The combined FSs of GCs were prepared on an accrual basis of accounting in

accordance with applicable PFRS/PPSAS.
Accrual basis of accounting means transactions and events are recognized in the
period in which they occur. All expenses are recognized and reported in the FSs in the
period to which they relate. Income is on accrual basis except for transactions where
accrual basis is impractical or when the law requires other methods.
4.3 Significant accounting judgments and estimates
The preparation of the FSs in accordance with the prescribed accounting

principles/standards requires the use of certain critical accounting estimates and
assumptions that affect the reported amounts of assets, liabilities, income and
expenses. Management exercises judgment in applying the accounting policies.
Judgments, estimates and assumptions are continually evaluated and are based on
historical experience, consultation with experts, trend analyses and a number of other
factors, including expectations of future events that are deemed probable under the
circumstances. The effects of any change in estimates are reflected in the FSs as they
become reasonably determinable.
4.4 Prior period adjustments
In accordance with Philippine Accounting Standards (PAS) 8/PPSAS 3 – Accounting

Policies, Changes in Accounting Estimates and Errors, corrections of material errors
are either restated in the comparative amounts for the prior period(s) presented in
which the error occurred; or if the transactions relate to periods before those presented
in the FSs, adjustments are restated in the opening balances of assets, liabilities and
capital/equity for the earliest prior period presented.
4.5 Changes in accounting estimates and policies
The GCs apply the prospective application in recognizing the effects of changes in
accounting estimates, as such, the changes are included in surplus/profit or
deficit/loss. On the other hand, the retrospective application is used to effect changes
in accounting policy, except when application is impractical, wherein the prospective
application is used.
22
4.6 Subsequent events
Any post year-end event that provides additional information about the GCs’ position
at the reporting date (adjusting event) is reflected in the FSs. Post year-end events that
are non-adjusting events, if any, are disclosed in the individual Notes to FSs, when
material.
4.7 Foreign currency translation/transaction
Transactions in foreign currencies are initially recognized in Philippine peso at the

exchange rate on the date of transaction. Monetary assets and liabilities denominated
in foreign currencies are revalued/restated by applying the prevailing currency rate at
reporting date. Exchange rate differences arising from the restatement or settlement of
monetary items are recognized in surplus/profit or deficit/loss in the period in which
they arise. Non-monetary items that are measured at fair value in foreign currency are
translated using the exchange rates at the date when the fair value was determined.
The exchange rate used are based on the published BSP Reference Exchange Rate
Bulletin.
Foreign currency transactions of the BSP are translated to Philippine pesos using
exchange rates applied on the value at settlement date of the transaction. For reporting
purposes, foreign currency assets and liabilities are translated to the local currency
equivalent using the weighted average exchange rate (WAER) at reporting date. Third
currency assets and liabilities are first converted to the US dollars, then translated to
local currency equivalent. The WAER at reporting date was used by BSP in
translating foreign currency denominated assets and liabilities, instead of the closing
rate as prescribed in paragraph 23 of PAS 21 – The Effects of Changes in Foreign
Exchange Rates, since the WAER is a more representative rate as it captures the
results of all transactions for the day in the Philippine Dealing System (PDS) rather
than at closing rate which is based on a single/last transaction.
In the case of LBP, the books of accounts of the regular banking units (RBUs) are
maintained in Philippine pesos, while those of the foreign currency deposit units
(FCDUs) are maintained in US dollars. For financial reporting purposes, the foreign
currency denominated monetary assets and liabilities in the RBUs are translated in
Philippine pesos based on the PDS closing rate at the statement of financial position
date. Foreign exchange differences arising from revaluation and translation of
foreign-currency denominated assets and liabilities are credited to or charged against
operations in the year in which the rates change. Non-monetary items that are
measured in terms of historical costs in a foreign currency are translated using the
exchange rates as at the dates of the initial transactions. Non-monetary items
measured at fair value in a foreign currency are translated using the exchange rates at
the date when the fair value was determined.
4.8 Cash and Cash Equivalents
Cash includes cash on hand and cash in banks, which are composed of current
accounts and savings deposits, both in Philippine pesos and foreign currencies. Cash
equivalents are short-term and highly liquid investments with short maturities of three
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months or less from date of acquisition, which are readily convertible to known
amounts of cash and subject to an insignificant risk of changes in value.
Cash and cash equivalents of the BSP include its highly liquid foreign currency
financial reserve assets and local currency financial assets that arise from its
management of the National Government (NG) account, other foreign and local
demand deposits with other financial institutions, revolving fund in the form of
receivables from accountable BSP employees and checks and other cash items. These
also include government short-term deposits, deposits of banks and other financial
institutions which are cash liabilities of BSP, hence, are deducted therefrom.
Petty Cash Fund (PCF) is maintained on an imprest system wherein replenishment is

charged to the appropriate expense accounts. The PCF is not used to purchase regular
inventory items for stock and other disbursements which should be paid through
checks. The fund shall be sufficient for the non-recurring, emergency and petty
expenses.
4.9 Financial Assets
a. Financial Asset is an asset that is any of the following:
1) Cash;
2) An equity instrument of another entity;
3) A contractual right:
i. To receive cash or another financial asset from another entity; and
ii. To exchange financial assets or financial liabilities with another
entity under conditions that are potentially favorable to the entity;
or
4) A contract that will or maybe settled in the entity’s own equity
instruments.
b. Initial recognition and measurement
Financial assets are recognized in the books of accounts when the entity becomes
a party to the contractual provisions of the instrument. A financial asset is
measured initially at its fair value plus, in the case of financial asset not measured
at fair value through surplus/profit or deficit/loss, transaction costs that are
directly attributable to the acquisition or issue of the financial asset.
Financial assets within the scope of PPSAS 29/PAS 39 – Financial Instruments:

Recognition and Measurement are classified as: 1) financial assets at fair value
through surplus/profit or deficit/loss, 2) held to maturity (HTM) investments, 3)
available for sale (AFS) securities, and 4) loans and receivables. GCs classify the
financial assets at initial recognition depending on the purpose for which the
financial assets are acquired, and re-evaluate the classification at every reporting
date.
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c. Subsequent measurement
The subsequent measurement of financial assets depends on their classification.

After initial recognition, financial assets are measured, including derivatives that
are assets, at their fair values, without any deduction for transaction costs that they
may incur on sale or other disposal, except for the following financial assets:
1) Loans and receivables measured at amortized cost using the effective

interest method;
2) HTM investments measured at amortized cost using the effective interest
method; and
3) Investments in equity instruments that do not have a quoted market price in
an active market and whose fair value cannot be reliably measured, and
derivatives that are linked to and must be settled by delivery of such
unquoted equity instruments, which are measured at cost.
d. Financial assets at fair value through surplus/profit or deficit/loss
Financial assets at fair value through surplus/profit or deficit/loss include financial

assets held for trading, and financial assets designated upon initial recognition at
fair value through surplus/profit or deficit/loss. Financial assets are classified as
held for trading if acquired principally for the purpose of selling or repurchasing
in the near term or generating profit from short-term fluctuations in price or
dealer’s margin. These are trading debt and equity securities that are purchased
with the intent of selling in the near term. Financial assets at fair value through
surplus/profit or deficit/loss are carried at fair or market value. Gains or losses
arising from change in fair value or market valuation are credited or charged to
operations.
The fair value of financial instruments traded in active markets at reporting date is
based on their quoted market price or dealer price quotations (bid price for long
positions and ask price for short positions), without deduction for transaction
costs. When current bid or ask prices are not available, the price of the most recent
transaction provides evidence of the current fair value as long as there has not
been a significant change in economic circumstances since the time of the
transaction.
For all other financial instruments not traded in an active market, the fair value is
determined by using appropriate valuation techniques. Valuation techniques
include net present value techniques, comparison to similar instruments for which
observable market prices exist, and other relevant valuation models.
Derivatives, including derivatives embedded in non-derivative contracts, are also

classified as held for trading unless they are designated as hedging instruments.
Derivatives are subsequently re-measured at their fair value. Fair values are
obtained from quoted market prices in the active markets, including recent market
transactions and valuation techniques, including discounted cash flow models.
Every derivative instrument is recorded in the statement of financial position
either as an asset when fair value is positive or liability when fair value is
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negative. Any gains or losses from changes in fair value of derivatives are taken
directly to surplus/profit or deficit/loss.
e. Held to Maturity Investments
HTM investments are non-derivative financial assets with fixed or determinable

payments and fixed maturities that are intended to be held until maturity. After
initial recognition, HTM investments are subsequently measured at amortized cost
using the effective interest rate (EIR) method, less impairment in value.
Amortized cost is calculated by taking into account any discount or premium on
acquisition and fees or costs that are an integral part of the effective interest rate.
Gains and losses due to change in exchange rate are recognized in statement of
comprehensive income when the HTM investments are derecognized, impaired or
revalued (in case of foreign currency denominated), as well as through the
amortization process.
f. Available for Sale Securities
AFS investments are debt and equity securities which do not qualify to be
classified as held for trading, HTM or loans and receivables. They are purchased
and held indefinitely, which may be sold in response to liquidity requirements or
changes in market condition (changes in interest rates or equity prices). AFS
investments are carried at fair market value. The effective yield component
(including premium, discounts and directly attributable transaction cost) and
foreign exchange restatement results of AFS debt securities are reported in
earnings. Unrealized gains or losses on market valuation or change in fair value
are reported as separate component in the Statement of Comprehensive Income
(SCI).
Dividends on AFS equity instruments are recognized in the SCI when the entity’s
right to receive payment is established. The cumulative unrealized gains and
losses arising from the recognition of fair value changes on AFS are reported as
separate component of equity in the Statement of Financial Position (SFPos).
BSP’s AFS financial assets include gold and foreign and local investments
denominated in foreign currencies. Domestic securities held by BSP are also
classified as AFS, as they may be sold in response to the needs for liquidity in the
exercise of its functions.
AFS financial assets, except gold, are initially recognized at cost in US dollars and
subsequently carried at fair value. Gold is initially recognized at cost in US dollars
and translated to the local currency using the WAER at reporting date. Change in
price is calculated as the difference between the current market price against the
historical moving average price while change in exchange rate is the difference
between current exchange rate and historical moving average exchange rate.
g. Loans and receivables
Loans and receivables are non-derivative financial assets with fixed or

determinable payments that are not quoted in an active market. Such assets are
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carried at cost or amortized cost using the effective interest method less
impairment in value. Amortized cost is calculated by taking into account any
discount or premium on acquisition and fees or costs that are integral part of the
effective interest rate. Losses arising from impairment are recognized in the
surplus/profit or deficit/loss.
Social Security System’s (SSS) loans or receivables are deemed impaired when it
will probably not be possible to recover all the amounts due or equivalent value
according to the contractual terms of the loan agreement. Significant financial
difficulties of the debtor, probability that the debtor will enter bankruptcy, and
default or delinquency in payments are considered indicators that such loans and
receivables are impaired.
Loans receivables of Government Service Insurance System (GSIS) represent

loans granted to members, government agencies and private entities. These
receivables are measured at amortized cost. Loans are collateralized and/or
covered with Loan Redemption Insurances (LRIs) and subjected to minimum net
take-home pay requirements to mitigate risks.
GSIS maintains allowance for impairment losses on receivables at a level

considered adequate to provide for potential uncollectible receivables. The level
of this allowance is evaluated by management on the basis of factors that affect
the collectability of the accounts. These factors include, among others, the
debtor’s payment behavior and known market factors. GSIS reviews the status of
the member/borrower and age of receivables and identifies accounts that are to be
provided with allowance on a yearly basis. The amount and timing of recognized
expenses for any period would differ if GSIS made different judgments or used
different estimates.
Premiums receivable from inactive members are provided with 100 percent
allowance for impairment because probability of collection is deemed unlikely.
The following policies were adopted in the recognition of impairment of

outstanding service loans, except loans to pensioners:
a. Loans to inactive members with processed retirement or separation

benefits claims – One hundred percent allowance for impairment for the
loan balances which were not covered by the retirement or separation
benefits.
b. Loans to inactive members without processed retirement or separation
benefits claims – One hundred percent allowance for impairment for the
loan balances which cannot be covered by the computed benefit
entitlements.
No allowance for impairment is provided for loans to pensioners since collection

is done through deduction of amortizations from their monthly pension and such
loans are also covered by redemption insurance in case of death of the pensioner.
No allowance for impairment is provided for loan balances of active members
since these can be collected against any future GSIS benefit the borrower is
entitled to.
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For mortgage loans, the GSIS has adopted BSP Circular No. 789 (Appendix 9:
Guidelines in Setting up Allowance for Probable Losses) in recognizing the
impairment of past due accounts. The Circular provides a 12.50 percent allowance
for secured accounts where there is an imminent possibility of foreclosure or
acquisition of the collateral for failure of all collection efforts.
For non-member loans and receivables, GSIS maintains the allowance for
impairment at a level considered adequate to provide for potential uncollectible
receivables. Allowance for impairment is based on: 1) one hundred percent
allowance for accounts of companies/entities which are already declared insolvent
or bankrupt; and 2) aging of receivables, as follows: (a) more than 2 years up to 4
years – 25%, (b) more than 4 years up to 7 years – 50%, and more than 7 years for
accounts of companies/entities which are already considered insolvent or bankrupt
– 100%.
In estimating impairment losses for accounts due from reinsurers, the GSIS
applies one hundred percent allowance for reinsurance companies already
identified as non-operational; and based on age of receivables for operational
companies, the following percentages apply: (a) Two years and below – 0%, (b)
Over 2 years to 4 years – 25%, (c) Over 4 years to 7 years – 50%, and (d) Over 7
years – 100%.
h. Financial assets at amortized cost
Investment securities valued at amortized cost are held consistent within the
business model adopted, which is to hold the financial assets to collect the
contractual cash flows rather than to sell the instrument prior to its contractual
maturity to realize its fair value changes.
i. Impairment of financial assets
Financial asset is deemed to be impaired if there is objective evidence of

impairment as a result of one or more events that has/have occurred after initial
recognition of an asset and that loss event (or events) has/have an impact on the
estimated future cash flows of the financial asset or group of financial assets that
can be reliably estimated. Evidence of impairment may include the following
indicators:
1) The debtor or a group of debtors is experiencing significant financial

difficulty;
2) Default or delinquency in interest or principal payments;
3) The probability that debtors will enter bankruptcy or other financial
reorganization; and
4) Observable data indicates a measurable decrease in estimated future cash
flows (e.g. changes in arrears or economic conditions that correlate with
defaults).
If there is objective evidence that an impairment loss on financial assets has been
incurred, the amount of the loss measured is the difference between the asset’s
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carrying amount and the present value of the estimated future cash flows
discounted at the financial assets’ original effective interest rate. The carrying
value of the asset is reduced through the use of an allowance account, and the
amount of loss is recognized in the SCI.
If, in a subsequent period, the amount of accumulated impairment loss has

decreased because of an event occurring after the impairment has been
recognized, the previously recognized impairment loss is reversed by adjusting the
allowance account. However, the carrying amount after the reversal of impairment
loss should not exceed the carrying amount of the financial assets had there been
no impairment loss recognized. The amount reversed is recognized in the SCI.
j. Derecognition
Financial asset, or a part of a financial asset, or part of similar financial assets is

derecognized when:
a. the contractual rights to the cash flows from the financial asset expired or
are waived; and
b. the entity has transferred its contractual rights to receive the cash flows of
the financial assets, or retains the contractual rights to receive the cash
flows of the financial assets but assumes a contractual obligation to pay the
cash flows to one or more recipients in an arrangement that meets the
conditions set forth in PAS 39/PPSAS 29 – Financial Instruments:
Recognition and Measurement; and
c. either the entity has transferred substantially all the risks and rewards of
ownership of the financial asset; or has neither transferred nor retained
substantially all the risks and rewards of ownership of the financial asset,
but has transferred the control of the asset.
4.10 Other Investments
Investments with maturities of one year or less from date of SFPos are included in the
current assets, and those with maturities of more than 12 months after the SFPos date
are classified as non-current assets.
4.11 Receivables
Receivables are stated at face amounts less allowance for impairment. Allowance for
impairment is maintained at a level adequate to provide for potential receivables, the
collection of which is considered remote. The level of the allowance for impairment is
based on evaluation on past collection experience and other factors that may affect
collectability. Periodic evaluation of accounts is conducted to identify those requiring
sufficient level of allowance and determine proper level thereof.
4.12 Inventories
Inventories are initially recognized and measured at cost upon acquisition. Cost of
inventories comprises all cost of purchase, cost of conversion and other cost incurred
in bringing the inventories to their present location and condition. The cost of
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purchase of inventories comprises the purchase price, import duties and other taxes,
transport, handling and other costs directly attributable to the acquisition of the
finished goods, materials and services. Trade discounts, rebates and other similar
items are deducted in determining the cost of purchase.
Inventories acquired through non-exchange transactions (for no cost or for a nominal

cost), are measured at their fair value at the date of acquisition.
After initial recognition, inventory is measured at the lower of cost and net realizable
value. However, to the extent that a class of inventory is distributed or deployed at no
charge or for a nominal charge, that class of inventory is measured at the lower of cost
and current replacement cost.
Net realizable value is the estimated selling price in the ordinary course of operations,
less the estimated costs of completion and the estimated costs necessary to make the
sale, exchange, or distribution.
Inventories are recognized as an expense when issued for utilization or consumption

in the ordinary course of operations using the first-in, first-out (FIFO) or weighted
average method. The entity uses the same cost formula for all inventories having a
similar nature and use. The use of different formulas is justified for inventories with
different nature or use.
4.13 Investments in Joint Venture
A Joint Venture (JV) is a contractual arrangement whereby the GCs and other parties
undertake an economic activity that is subject to joint control. Some GCs enter into a
JV classified as jointly controlled asset arrangement. Under this classification, the
GCs recognize in their FSs their share in the jointly controlled asset, classified
according to the nature of the asset rather than as an investment. The GCs also
recognize their share of jointly incurred liabilities and expenses, and revenue from the
sale or use of their share of the output of the JV.
Some GCs enter into a JV classified as jointly controlled entity whereby their interest
in the JV is accounted under the equity method. Under this method, initial recognition
of the investment in JV is recognized at cost, and the carrying amount is increased or
decreased to recognize the GC’s share in the profit or loss of the JV after the date of
acquisition. The GC’s share in the JV’s profit or loss is recognized as surplus/profit or
deficit/loss in the SCI.
Philippine National Oil Company Exploration Corporation (PNOC-EC) recognizes its

10 percent participating interest in the Service Contract (SC) 38 Malampaya Gas
Project under the criteria “jointly controlled asset”. Under this criteria, PNOC-EC
recognizes in its separate FSs its share of the jointly controlled assets, classified
according to nature of the assets rather than as investment; any liabilities that it has
incurred; its share of any liabilities incurred jointly with the venturers in relation to
the JV; any income from sale or use of its share of the output of the JV; together with
its share of any expenses incurred by the JV; and any expenses that it has incurred in
respect of its interest in the JV. Estimated abandonment and site restoration cost is
30
provided using the accrued liability method and computed based on units of
production and estimated proved reserves.
PNOC-EC reports its 10 percent participating interest in SC 38 using JV proportionate

consolidation. The Corporation’s share of the assets, liabilities, income and expenses
are combined with the equivalent items in the Corporation’s FSs on a line-by-line
basis. Its investments in JV include accumulated intangible costs directly attributable
to exploration and development activities, such as the expenses incurred to acquire the
legal right to explore, and the costs of exploratory drilling and testing. In accordance
with the successful efforts method of accounting, non-drilling costs and other pre-
operating expenses such as corporate overhead, except those expenses which are
directly related to exploratory drilling activities, are recognized as expenses as
incurred.
4.14 Investments in Associates/Affiliates
An associate/affiliate is an entity over which the investor has significant influence.

Significant influence is the power to participate in the financial and operating policy
decisions of the investee but is not control or joint control of those policies. A
substantial or majority ownership by another investor does not necessarily preclude an
entity from having significant influence, unless such influence is clearly
demonstrated. According to PAS 28/PPSAS 36 – Investments in Associates and Joint
Ventures, an entity uses the equity method to account for its investments in
associates/affiliates in its consolidated FSs. Equity method is defined as a method of
accounting whereby the investment is initially recognized at cost and adjusted
thereafter for the post-acquisition change in the investor’s share of net assets of the
investee. The profit or loss of the investor includes its share of the profit or loss of the
investee, and the other comprehensive income of the investor includes its share of
other comprehensive income of the investee. The only FSs to which an entity does not
apply the equity method is when it presents separate FSs in accordance with PAS
27/PPSAS 34 – Separate Financial Statements.
LBP’s investment in subsidiaries in which Parent has control are accounted for under
the cost method of accounting in the separate FSs. These are carried in the SFPos at
cost less any impairment loss.
DBP’s equity investments reflected in the Parent Bank’s separate FSs represent
investments in subsidiaries, associates and JVs, and are accounted for at cost method
in accordance with PAS 27. Under the cost method, income from investment is
recognized in the SCI only to the extent that the investor receives distributions from
accumulated net income of the investee arising subsequent to the date of acquisition.
Distribution received in excess of such profits are regarded as recovery of investment
and are recognized as reduction of the cost of investment.
4.15 Non-Current Assets Held for Sale
Non-current assets are classified as held for sale if it is highly probable that their
carrying amount will be recovered primarily through a sale transaction rather than
through continuing use. For this to be the case, the asset must be available for
immediate sale in its present condition subject only to terms that are usual and
31
customary for sales of such assets and its sale must be highly probable. For the sale to
be highly probable the appropriate level of management must be committed to a plan
to sell the asset and an active program to locate a buyer and complete the plan must
have been initiated. Further, the asset must be actively marketed for sale at a price that
is reasonable in relation to its current fair value. In addition, the sale should be
expected to qualify for recognition as a completed sale within one year from the date
of classification.
Non-current assets held for sale are carried at the lower of their carrying amount and
fair value less costs to sell. Assets classified as held for sale are not subject to
depreciation or amortization. If an asset has been classified as held for sale but the
criteria for it to be recognized as held for sale are no longer satisfied, the GCs shall
cease to classify the asset as held for sale. Impairment loss is recognized for an initial
or subsequent write-down of the asset fair value less cost to sell. Gain on any
subsequent increase in fair value less cost to sell of an asset is recognized to the extent
of the cumulative impairment loss that has been recognized.
Non-current assets held for sale include foreclosed collateral of delinquent customers
that are intended for sale within one year from the date of classification as held for
sale.
SSS’ non-current assets held for sale include real and other property acquired (ROPA)
in settlement of contributions and members housing/other loan delinquencies through
foreclosure or “dacion en pago”. They are initially booked at the carrying amount of
the contribution/loan delinquency plus transaction costs incurred upon acquisition.
When the recognized amount of ROPA exceeds the appraised value of the acquired
property, an allowance for impairment loss equivalent to the excess of the amount
recognized over the appraised value is set up.
4.16 Investment Property
Investment property is property, either land or building, or a part of a building or both,

held by the owner or by the lessee under a finance lease, to earn rentals or for capital
appreciation, or both, rather than for use in the production or supply of goods or
services or for administrative purposes, or for sale in the ordinary course of business.
a. Initial recognition and subsequent measurement
Investment property is measured initially at cost, including transaction costs. Such

cost should not include start-up costs, operating losses incurred before the
investment property achieves the planned level of occupancy, and abnormal
amounts of wasted materials, labor or other resources incurred in constructing or
developing the property. The carrying amount includes the replacement cost of
components of an existing investment property at the time that cost is incurred if
the recognition criteria are met; and excludes the costs of day-to-day maintenance
of an investment property.
Subsequent to initial recognition, investment property are measured using the cost
model and are depreciated over their estimated useful lives. Investment property
are also tested for impairment and impairment losses are also recognized, when
32
appropriate. Impairment is a loss in the future economic benefits of an investment
property over and above the systematic recognition of the loss of the asset’s future
economic benefits through depreciation. After recognition of an impairment loss,
the depreciation charge of the investment property shall be adjusted in future
periods to allocate the asset’s revised carrying amount over its remaining useful
life.
b. Derecognition
Investment property is derecognized on disposal or when the investment property

is permanently withdrawn from use and no future economic benefits are expected
from its disposal. The difference between the net disposal proceeds and the
carrying amount of the asset is recognized in the profit/surplus or loss/deficit in
the period of retirement or disposal. Transfers to, or from, investment property
shall be made only when there is a change in use.
4.17 Property, Plant and Equipment
Property, Plant and Equipment (PPE) are tangible items that are held for use in the
production or supply of goods or services, for rental to others, or for administrative
purposes; and are expected to be used during more than one reporting period.
GCs recognize an item of PPE in the books of accounts if it is probable that future
economic benefits or service potential associated with the item will flow to the
entity; the cost of the item can be measured reliably; and meets the capitalization
threshold of P15,000. PPE, except land, are stated at cost less accumulated
depreciation and impairment loss. Cost includes: purchase price, import duties and
non-refundable purchase taxes less trade discounts and rebates; expenditure that is
directly attributable to the acquisition of the item; and initial estimate of the costs
of dismantling and removing the item and restoring the site on which it is located,
the obligation for which an entity incurs either when the item is acquired, or as a
consequence of having used the item during a particular period for purposes other
than to produce inventories during that period.
Subsequent costs are included in the asset’s carrying amount or recognized as a

separate asset, as appropriate, when it is probable that future economic benefits or
service potential associated with the item will flow to the entity and the cost of the
item can be measured reliably.
Major repairs/renovations and improvements that will prolong the useful life of
the asset are capitalized and depreciated over the remaining or revised useful life
of the asset. All other repairs and maintenance are charged to the SCI during the
financial period in which they are incurred.
b. Depreciation
Depreciation, the systematic allocation of the depreciable amount of PPE over its
useful life, is calculated using the straight-line method, net of residual value over
33
its estimated useful life. Each part of an item of PPE with a cost that is significant
in relation to the total cost of the item is depreciated separately. Depreciation
starts when the PPE becomes available for use. The depreciation charge for each
period is recognized as expense, unless it is included in the cost of another asset.
c. Impairment
PPE are assessed at each reporting date to determine the existence of impairment,
which is recognized when the carrying amount is greater than the estimated
recoverable amount or recoverable service amount. Impairment is a loss in the
future economic benefits or service potential over and above the systematic
recognition of the loss of the PPE’s future economic benefits or service potential
through depreciation. After recognition of an impairment loss, the depreciation
charged of the PPE shall be adjusted in future periods to allocate the asset’s
revised carrying amount over its remaining useful life.
d. Derecognition
An item of PPE and/or any significant part of a PPE is derecognized upon disposal
or when no future economic benefits or service potential are expected from its
continued use. Any gain or loss arising from derecognition of the asset is included
in the SCI.
Construction in Progress (CIP) is stated at cost. While the construction is in progress,

the project costs are accrued based on the contractor’s accomplishment reports and
billings. These represent costs incurred for technical services and capital works
program contracted to facilitate the implementation of the project. While the
construction is in progress, no provision for depreciation is recognized.
CIP is transferred to the appropriate PPE account when the construction or installation
and related activities necessary to prepare the PPE for its intended use have been
completed, and the asset is ready for service.
4.18 Intangible Assets
An intangible asset is an identifiable non-monetary asset without physical substance.
Intangible assets are recognized in the books of accounts if: the items are
identifiable and separable; the items are controlled by the entity; it is probable
that the expected future economic benefits or service potential that are associated
with the asset will flow to the entity; and the cost or fair value can be measured
reliably.
Intangible asset acquired through purchase or by separate acquisition is initially

recognized at cost, which includes non-refundable taxes and other directly
attributable cost. The cost of an intangible asset acquired in a non-exchange
transaction is its fair value at the time of acquisition. Internally generated
intangible asset, excluding capitalized development costs, is not capitalized and
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expenditure is reflected in surplus/profit or deficit/loss in the period in which the
expenditure is incurred. No intangible asset arising from research (or from the
research phase of an internal project) is recognized. Expenditure on research is
recognized as expense when incurred.
An intangible asset arising from development (or from the development phase of
an internal project) shall be recognized if an entity can demonstrate all of the
following:
1) the technical feasibility of completing the intangible asset so that it will be
available for use or sale;
2) its intention to complete the intangible asset and use or sell it;
3) its ability to use or sell the intangible asset;
4) how the intangible asset will generate probable future economic benefits.
Among other things, the entity can demonstrate the existence of a market
for the output of the intangible asset or the intangible asset itself or, if it is
to be used internally, the usefulness of the intangible asset;
5) the availability of adequate technical, financial and other resources to
complete the development and to use or sell the intangible asset; and
6) its ability to measure reliably the expenditure attributable to the
development of the intangible asset.
b. Amortization and impairment
Intangible assets are carried at cost less accumulated amortization and

impairment loss. The useful lives of intangible assets are assessed as either finite
or indefinite. Those with finite lives are amortized over their useful lives using
the straight line method, and are assessed for impairment at each reporting period
whenever there is an indication that the asset is impaired. Those with indefinite
useful lives are not amortized but are required to be tested for impairment at least
annually or whenever there is an indication that the intangible asset may be
impaired. The amortization expense of an intangible asset with a finite useful life
is recognized in surplus/profit or deficit/loss.
Amortization begins when the intangible asset is available for use, i.e., when it is
in the location and condition necessary for it to be capable of operating in the
manner intended by management. Amortization ceases at the earlier of the date
that the asset is classified as held for sale (or included in a disposal group that is
classified as held for sale) and the date that the asset is derecognized.
An intangible asset is impaired when its carrying amount is greater than the
estimated recoverable amount.
GCs are required to review the useful lives of their intangible assets with
indefinite lives each year to determine whether events and circumstances
continue to support an indefinite useful life assessment for those assets. Change
in the useful life assessment from indefinite to finite shall be accounted for as a
change in accounting estimate.
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c. Derecognition
An item of intangible asset is derecognized when it is permanently withdrawn

from use and no future economic benefits or service potential are expected from
its use. Any gain or loss arising on the retirement of an item of intangible asset is
included in the SCI in the period of retirement.
4.19 Deferred Tax Asset
Deferred tax asset is recognized for the amount of income tax recoverable in future
periods with respect to deductible temporary differences, and the carry forward of
unused tax losses and unused tax credits to the extent that it is probable that future
taxable profit will be available against which the unused tax losses and unused tax
credits can be utilized.
At the end of each reporting period, GCs reassess unrecognized deferred tax assets.
The GCs recognize a previously unrecognized deferred tax asset to the extent that it
has become probable that future taxable profit will allow the deferred tax asset to be
recovered.
4.20 Prepayments
Prepayments represent expenses not yet incurred but already paid in cash.
Prepayments are initially recognized as assets and measured at cost. Subsequently,
these are charged to SCI as they are consumed in operations or as they expire with the
passage of time. Prepayments are classified in the SFPos as current assets if expected
to be incurred within one year, otherwise, prepayments are classified as non-current
assets.
4.21 Financial liabilities
a. Initial recognition and measurement
Financial liabilities within the scope of PAS 39/PPSAS 29 are classified as

financial liabilities at fair value through profit or loss, or loans and borrowings, as
appropriate. The GC determines the classification of its financial liabilities at
initial recognition. All financial liabilities are recognized initially at fair value, and
in the case of loans and borrowings, plus directly attributable transaction costs.
Borrowing costs are recognized as expense in the year in which these costs are
incurred.
The GCs financial liabilities include trade and other payables, bank overdrafts,
loans and borrowings, and financial guarantee contracts.
b. Subsequent measurement
Subsequent measurement of financial liabilities depend on their classification, as

follows:
36
1. Financial liabilities at fair value through surplus/profit or deficit/loss
include financial liabilities held for trading and financial liabilities
designated upon initial recognition at fair value through surplus/profit or
deficit/loss.
2. Financial liabilities are classified as held for trading if they are acquired
for the purpose of selling in the near term.
3. Interest bearing loans and borrowings, after initial recognition, are

subsequently measured at amortized cost using the effective interest
method. Gains and losses are recognized in surplus/profit or deficit/loss
when the liabilities are derecognized as well through the effective interest
method amortization process. Amortized cost is calculated by taking into
account any discount or premium on acquisition and fees or costs that are
integral part of the effective interest rate.
c. Derecognition
Derecognition of a financial liability happens when the obligation under the

liability is discharged or cancelled or expired. When an existing financial liability
is replaced by another from the same lender on substantially different terms, or the
terms of an existing liability are substantially modified, such an exchange or
modification is treated as a derecognition of the original liability and the
recognition of a new liability, and the difference in the respective carrying
amounts is recognized in the SCI.
d. Offsetting of financial instruments
Financial assets and financial liabilities are offset and the net amount reported in
the combined SFPos if, and only if, there is a currently enforceable legal right to
offset the recognized amounts and there is an intention to settle on a net basis, or
to realize the assets and settle the liabilities simultaneously.
e. Fair value of financial instruments
The fair value of financial instruments that are traded in active markets at each
reporting date is determined by reference to quoted market prices or dealer price
quotations (bid price for long positions and ask price for short positions), without
any deduction for transaction costs.
BSP’s financial liabilities are denominated in foreign and local currencies. Financial
liabilities denominated in foreign currencies comprise of short-term foreign currency
deposits of banks, the NG and other government entities, and short and long-term
borrowings of the BSP. These liabilities are initially recognized at cost and
subsequently converted at current value using WAER at reporting date. The
difference is recognized in the SFPos as unrealized gains or losses due to exchange
rates. Interest is accrued monthly and recognized in the SCI.
BSP’s financial liabilities denominated in local currency refer to deposits of the NG,
banks and other financial institutions. All banks and quasi-banks operating in the
37
country are required to maintain reserves against their deposit and/or deposit
substitutes liabilities. The reserve position of each bank or quasi-bank is calculated
daily on the basis of the amount of the institution’s reserves at the close of business
for the day and the amount of its liability accounts against which reserves are required
to be maintained. No interest was paid on the deposits of banks and other financial
institutions effective April 6, 2012, pursuant to Monetary Board Resolution No. 1924
dated December 27, 2011 and Circular No. 753 dated March 29, 2012. On the other
hand, the interest for the demand deposit accounts of the NG is accrued monthly and
credited quarterly, except for the Treasurer of the Philippines (TOP)-Special Account
No. 2 which is credited semi-annually to the TOP-Treasury Single Account (TSA).
f. Derivative financial instruments
Derivatives are financial instruments such as forward currency contracts and

interest rate swaps to hedge foreign currency risks and interest rate risks,
respectively. Such derivative financial instruments are initially recognized at fair
value on the date on which a derivative contract is entered into and are
subsequently remeasured at fair value. Derivatives are carried as financial assets
when the fair value is positive and as financial liabilities when the fair value is
negative. Any gains or losses arising from changes in the fair value of derivatives
are taken directly to SCI.
4.22 Provisions, Contingent Liabilities and Contingent Assets
a. Provisions
Provisions are recognized when: 1) the GC has a present obligation (legal or

constructive) as a result of past event; 2) it is probable that an outflow of resources
embodying economic benefits or service potential will be required to settle the
obligation; and 3) a reliable estimate can be made of the amount of the obligation.
Where the GC expects some or all of a provision to be reimbursed, for example,

under an insurance contract, the reimbursement is recognized as a separate asset
only when the reimbursement is virtually certain. The expense relating to any
provision is presented in the SCI net of any reimbursement.
Provisions are reviewed at each reporting date, and adjusted to reflect the current
best estimate. If it is no longer probable that an outflow of resources embodying
economic benefits or service potential will be required to settle the obligation, the
provisions are reversed.
b. Contingent Liabilities
GCs do not recognize contingent liabilities, but disclose details of contingencies in

the Notes to FSs, unless the possibility of an outflow of resources embodying
economic benefits or service potential is remote.
38
c. Contingent Assets
A contingent asset is a possible asset that arises from past events and whose
existence will be confirmed only by the occurrence or non-occurrence of one or
more uncertain future events not wholly within the control of the entity. In
compliance with the provisions of PAS 37/PPSAS 19 – Provisions, Contingent
Liabilities and Contingent Assets, contingent asset is not recognized but disclose
in the Notes to FSs.
Contingent assets are assessed continually to ensure that development are

appropriately reflected in the FSs. If it has become virtually certain that an inflow
of economic benefits or service potential will arise, and the assets value can be
measured reliably, the assets and the related revenue are recognized in the FSs of
the period in which the change occurs.
4.23 Leases
A lease is an agreement whereby the lessor conveys to the lessee, in return for a
payment or series of payments, the right to use an asset for an agreed period of time.
Finance lease is a lease that transfers substantially all the risks and rewards incidental
to ownership of an asset. Title may or may not eventually be transferred. The lessees
recognized the asset and liability for the future lease payments, in the SFPos at an
amount equal to the fair value of the leased property or, if lower, the present value of
the minimum lease payments, at the inception of the lease, except for initial direct
costs of the lessee that are added to the amount recognized as an asset. Subsequent to
initial recognition, minimum lease payments are apportioned between finance charges
and reduction of the outstanding liability, so as to achieve a constant periodic rate of
interest on the remaining balance of the liability. An asset is depreciated over the asset
useful life. However, if there is no reasonable certainty that the lessee will obtain
ownership of the asset by the end of the lease term, the asset is depreciated over the
shorter of the lease term and the estimated useful life of the asset.
The lessor recognizes the asset lease payments receivable under a finance lease in the
SFPos at an amount equal to the net investment in the lease, and finance revenue is
recognized based on a pattern reflecting a constant periodic rate of return on the net
investment.
Operating lease is a lease that does not transfer substantially all the risks and rewards
incidental to ownership of the asset leased to the lessee. Operating lease payments are
recognized as operating expense in surplus/profit or deficit/loss on a straight-line
basis over the lease term. Initial direct costs incurred in negotiating an operating lease
are added to the carrying amount of the leased asset and recognized over the lease
term. Rent received from an operating lease is recognized as income on a straight-line
basis over the lease term. Contingent rents are recognized as revenue in the period in
which they are earned. The depreciation policies for PPE are applied to similar assets
leased by the entity.
39
4.24 Deferred Tax Liabilities
Deferred tax liability is recognized for the amount of income tax payable in future
periods with respect to all taxable temporary differences.
4.25 Borrowing Costs
Borrowing costs that are directly attributable to the acquisition, construction or

production of a qualifying asset as part of the cost of the asset are capitalized. Other
borrowing costs are recognized as expense in the period in which they were incurred.
4.26 Income and Expense recognition
Income/Revenue is the gross inflow of economic benefits received and receivable by

the GC on its own account during the period arising in the course of the ordinary
activities of the entity, when those inflows result in increases in equity, other than
increases relating to contributions from equity participants. Revenue arises from the
following transactions and events: a) sale of goods; b) the rendering of services; and
c) the use by others of entity assets yielding interest, royalties and dividends. Income
is measured at fair value of the consideration received or receivable. Income is
recognized only when it is probable that the economic benefits associated with the
transactions will flow to the entity and can be measured reliably. When the
collectability of an amount already included in revenue becomes uncertain, the
uncollectible amount, or the amount in respect of which recovery has ceased to be
probable, is recognized as an expense.
Expenses are recognized when incurred and reported in the FSs in the period to which
they relate.
a. Taxes
Taxes and the related fines and penalties are recognized when collected or when
these are measurable and legally collectible. The related refunds, including those
that are measurable and legally collectible, are deducted from the recognized tax
revenue.
b. Service Fees
Income from rendering of services is recognized only when: 1) it is probable that

the economic benefits associated with the transaction will flow to the entity; 2) the
amount of revenue can be measured reliably; 3) the stage of completion of the
transaction at the end of the reporting period can be measured reliably; and 4) the
cost incurred for the transaction and the costs to complete the transaction can be
measured reliably.
Fines and penalties, except those related to taxes, are recognized as income when
earned and when the asset recognition criteria are met.
40
c. Grants and Donations
Grants and donations, including goods in kind, are initially measured at fair value
as at date of acquisition, which are ascertained by reference to quoted prices in an
active market, or by appraisal. An appraisal value of an asset is normally
undertaken by a member of the valuation profession who holds a recognized and
relevant professional qualification.
Goods in kind are recognized as assets when the goods are received, or there is a
binding arrangement to receive the goods. If goods in kind are received without
conditions attached, revenue is recognized immediately. If conditions are attached,
a liability is recognized. Liability is reduced and revenue is recognized when the
conditions are satisfied.
d. Interest, Royalties and Dividends
Interest income is accrued using the effective yield method. The effective yield
discounts estimated future cash receipts through the expected life of the financial
asset to that asset’s net carrying amount. The method applies this yield to the
outstanding principal to determine interest income in each period.
Royalties are recognized as they are earned in accordance with the terms of the
relevant agreement.
Dividend income is recognized at the time when the shareholder’s right to receive
the payment is established.
e. Rent Income
Rental income arising from operating lease on investment property is accounted

for on a straight-line basis over the lease terms and included in revenue.
5. CASH AND CASH EQUIVALENTS
This group of accounts is composed of the following:
2016
2017
Particulars (Restated)
(in thousand pesos)
Cash on Hand 41,221,457 36,126,585
Cash in Bank-Local Currency 517,659,596 534,886,952
Cash in Bank-Foreign Currency 12,832,287 17,193,285
Treasury/Agency Cash Accounts 25,291 22,317
Cash Equivalents 295,756,012 222,780,114
Total 867,494,643 811,009,251
Cash on Hand of P41.22 billion was composed mostly of Local Currency on Hand
amounting to P36.66 billion or 88.93 percent. LBP recognized the highest amount of
Cash on Hand of P31.38 billion or 76.14 percent.
41
Cash in Bank-Local Currency of P517.66 billion was composed mostly of Due from
Bangko Sentral ng Pilipinas-Local Currency amounting to P380.42 billion or 73.49
percent, of which P305.34 billion or 80.26 percent was recognized by LBP to meet
reserve requirements and to serve as a clearing account for interbank claims consistent
with BSP guidelines.
Cash in Bank-Foreign Currency of P12.83 billion was largely made up of Cash in

Bank-Foreign Currency, Savings Account totaling P7.80 billion or 60.76 percent, of
which P4.32 billion or 55.45 percent was reported by GSIS. Due from Other Banks-
Foreign Currency of P4.92 billion or 38.35 percent also formed a large part and was
reported solely by LBP.
Of the P25.29 million Treasury/Agency Cash Accounts, P25.22 million or 99.72

percent pertains to the Philippine Coconut Authority (PCA).
Included in the Cash Equivalents of P295.76 billion was Time Deposits-Local

Currency amounting to P280.85 billion or 94.96 percent, of which DBP and LBP have
recognized P73.89 billion or 26.31 percent and P52.22 billion or 18.59 percent,
respectively.
6. INTERNATIONAL RESERVES
This group of accounts is used solely by the BSP and is composed of the following:
2016
2017
(in thousand pesos)
Due from Foreign Banks-Demand and Time Deposits,
inclusive of accrued interest 831,774,931 898,322,684
Foreign Currency in Transit 233,179 258,108
Foreign Investments 2,709,449,115 2,649,214,488
Gold in Bullion Vaults 170,927,051 148,282,117
Gold with Foreign Financial Institutions 245,582,748 212,995,544
Accrued Interest Paid on Foreign Securities Purchased 9,859,596 9,933,686
Holdings of Special Drawing Rights 60,560,218 56,659,243
Loan to International Monetary Fund 2,687,565 3,943,509
Foreign Securities Purchased Under Agreement to Resell 25,521,651 18,370,207
Total 4,056,596,053 3,997,979,588
Foreign Investments pertained to marketable securities consisting of foreign securities

(free) and repurchase agreements totaling P1.974 trillion; and Other Investments
consisting of externally managed funds, Asian bond fund, and Bank for International
Settlement and Investment Pool totaling P735.57 billion. Accrued Interest Paid on
Foreign Securities Purchased of P9.86 billion pertained to interest on marketable
securities and other investments.
The total amount of Due From Foreign Banks of P831.77 billion represents demand
and time deposits of BSP with foreign depository banks amounting to P277.43 billion
and P553.04 billion, respectively, or a total of P830.46 billion plus accrued interest of
P1.31 billion.
42
7. FINANCIAL ASSETS
The composition of the current portion of this group of accounts is as follows:
2016
2017
(in thousand pesos)
Financial Assets at Fair Value Through Surplus/Profit or
Deficit/Loss 725,534,781 636,072,747
Financial Assets-Held to Maturity 195,912,630 194,890,388
Financial Assets-Available For Sale Securities 70,387,382 89,368,961
Allowance for Impairment (272,642) (272,642)
Net Value-Financial Assets-Available For Sale Securities 70,114,740 89,096,319
Financial Assets-Domestic Investments 330,429 78,892
Investment Securities at Amortized Cost 12,254,884 13,083,191
Total 1,004,147,464 933,221,538
Financial Assets at Fair Value Through Surplus/Profit or Deficit/Loss totaling

P725.53 billion was largely made up of Financial Assets Designated at Fair Value
through Surplus/Profit or Deficit/Loss amounting to P711.87 billion or 98.12 percent.
Of this amount, GSIS reported a 97.20 percent share or P691.97 billion consisting of
Republic of the Philippines (ROP) notes and bonds – P373.95 billion, stocks traded –
P216.07 billion, corporate bonds – P69.65 billion, externally managed funds – P27.81
billion, and global peso notes – P4.50 billion.
Financial Assets-Held to Maturity in the amount of P195.91 billion was composed

mostly of Investments in Treasury Bills-Local amounting to P192.49 billion, of which
BSP recognized the highest amount of P171.87 billion or 89.29 percent.
An enormous amount of Financial Assets-Available for Sale Securities was reported

by DBP at net amount of P66.47 billion or 94.80 percent of the total amount of
P70.11 billion.
Investment Securities at Amortized Cost of P12.25 billion was 100 percent reported
by the Philippine Deposit Insurance Corporation (PDIC) consisting of special savings
and time deposits, treasury bills, notes and bonds, while the total Financial Assets-
Domestic Investments of P330.43 million was 100 percent reported by PPSBI.
8. OTHER INVESTMENTS
The current portion of this group of accounts is composed of the following:
2016
2017
(in thousand pesos)
Sinking Fund 12,602,592 5,256,008
Investments in Time Deposits 58,386,604 63,949,756
Other Investments 1,147,501 802,877
Accumulated Impairment Losses (374,449) (374,449)
Net Value-Other Investments 773,052 428,428
Total 71,762,248 69,634,192
43
Total Investments in Time Deposits of P58.39 billion was divided into Local and
Foreign Currency amounting to P56.43 billion or 96.64 percent and P1.96 billion or
3.36 percent, respectively. The three GCs that reported the highest total Investments
in Time Deposits are Manila International Airport Authority (MIAA) – P11.49 billion
or 19.68 percent, GSIS – P9.10 billion or 15.59 percent, and Civil Aviation Authority
of the Philippines (CAAP) – P8.29 billion or 14.20 percent.
Sinking Fund was reported by the National Food Authority (NFA), PDIC, and WDs
amounting to P7.01 billion or 55.64 percent, P5.35 billion or 42.43 percent, and
P242.84 million or 1.93 percent, respectively. This represents funds being
accumulated to repay loans upon maturity.
Other Investments aggregating P773.05 million consisted of Investments in Stocks

amounting to P708.07 million, of which Mactan-Cebu International Airport Authority
has recognized 99.29 percent or P703.05 million.
9. RECEIVABLES
The current portion of this group of accounts consists of the following:
2016
2017
(in thousand pesos)
Loans and Receivable Accounts 1,228,437,648 1,040,450,263
Allowance for Impairment (120,801,633) (94,010,601)
Net Value-Loans and Receivable Accounts 1,107,636,014 946,439,662
Lease Receivables 38,130,933 35,861,612
Net Value-Lease Receivables 37,506,548 35,728,297
Inter-Agency Receivables 73,661,283 77,956,330
Intra-Agency Receivables 304,213,436 377,516,960
Other Receivables 73,178,243 56,324,120
Net Value-Other Receivables 67,301,612 46,996,709
Total 1,590,318,894 1,484,637,959
The net current portion of Receivables amounted to P1.590 trillion, of which Loans
and Receivable Accounts registered the highest composition of P1.108 trillion or
69.65 percent. Of this amount, Loans and Receivable-Others has aggregated to
P687.17 billion or 62.04 percent which pertains mostly to LBP’s loans to various
entities in the amount of P575.43 billion.
Combined Intra-Agency Receivables of P304.21 billion or 19.13 percent of the total

net Receivables, of which P300.47 billion or 98.77 percent was reported by NFA,
consisting of Due from Operation Units of P126.12 billion, Due from Central
Office/Home/Head Office of P134.95 billion, and Due from Regional/Branch Offices
of P39.40 billion.
44
10. INVENTORIES
The breakdown of this group of accounts is as follows:
2016
2017
(in thousand pesos)
Inventory Held for Sale 37,806,792 37,066,651
Net Value-Inventory Held for Sale 37,796,928 37,011,901
Inventory Held for Distribution 853,752 219,367
Inventory Held for Manufacturing 11,749,976 3,882,814
Net Value-Inventory Held for Manufacturing 11,709,021 3,815,750
Inventory Held for Consumption 10,366,672 12,451,018
Net Value-Inventory Held for Consumption 10,345,489 12,271,054
Semi-Expendable Machinery and Equipment 87,070 43,886
Semi-Expendable Furniture, Fixtures and Books 17,211 10,881
Domestic Gold and Silver Inventory 1,330,466 455,262
Plant Inventory 4,871,587 4,440,611
Total 67,011,524 58,268,712
Of the aggregate net amount of Inventories of P67.01 billion, Inventory Held for Sale
amounting to P37.80 billion or 56.40 percent belongs mostly to National Housing
Authority (NHA) in the amount of P33.27 billion or 88.01 percent which represents
the cost of developed lots, houses and buildings transferred from Work-in-Process
Inventory for disposition/sale.
Inventory Held for Manufacturing amounting to P11.71 billion or 17.47 percent of the
total Inventories includes mostly Work-in-Process Inventory of P10.69 billion or
91.31 percent. Of this amount, P9.83 billion or 91.96 percent pertains to NHA which
represents the cost of its ongoing projects.
11. NON-CURRENT ASSETS HELD FOR SALE
CY 2017 gross amount of P18.73 billion with Accumulated Impairment Losses of

P1.28 billion or a net of P17.45 billion was reported mostly by Home Guaranty
Corporation (HGC) at a net amount of P8.89 billion or 50.92 percent which represents
the carrying amount of various real estate inventory available for sale to recover its
exposure on its projects as a result of payment of call on the guaranty.
12. OTHER CURRENT ASSETS
This group of accounts consists of the following:
2016
2017
(in thousand pesos)
Advances 666,679 679,294
Prepayments 59,512,994 55,921,640
Deposits 10,303,102 11,866,904
45
2016
2017
(in thousand pesos)
Restricted Fund 1,860,738 1,917,460
Other Assets 8,770,014 5,836,285
Total 81,113,526 76,221,583
Prepayments of P59.51 billion or 73.37 percent registered the highest amount among
Other Current Assets of P81.11 billion. Input Tax of P33.95 billion representing 57.04
percent of the total Prepayments includes P32.83 billion reported by Power Sector
Assets and Liabilities Management Corporation (PSALM).
Deposits totaling P10.30 billion was mostly recognized also by PSALM at an amount
of P8.88 billion or 86.16 percent.
13. NON-INTERNATIONAL RESERVES FOREIGN ASSETS
Non-International Reserves Foreign Assets aggregating P91.74 billion was reported

solely by BSP, of which P91.71 billion or 99.97 percent represents Foreign Exchange
Receivables. The remaining P26.19 million or .03 percent represents Due from
Foreign Banks-Special Accounts, which is used to recognize all peso/dollar
purchase/sale transactions through the PDS, and serves as a temporary non-
international reserve account from which funds are transferred to/from the Federal
Reserve.
14. FINANCIAL ASSETS
The non-current portion of this group of accounts, which falls under major account
group Investments, consists of the following:
2016
2017
(in thousand pesos)
Financial Assets at Fair Value Through Surplus/Profit or
Deficit/Loss 1,298,812 1,024,447
Accumulated Impairment Losses (369,852) (369,852)
Net Value-Financial Assets-Held to Maturity 812,625,480 613,780,044
Financial Assets-Available For Sale Securities 397,633,313 438,447,865
Accumulated Impairment Losses (2,739,966) (2,727,332)
Net Value Financial Assets-Available For Sale Securities 394,893,347 435,720,533
Financial Assets-Domestic Investments 601,498 531,232
Investment Securities at Amortized Cost 152,779,482 134,138,069
Financial Assets at Fair Value Through Other
Comprehensive Income 832,728 861,630
Total 1,363,031,348 1,186,055,956
Total Financial Assets at Fair Value Through Surplus/Profit or Deficit/Loss

amounting to P1.30 billion has been solely reported by PSALM.
46
Net amount of Financial Assets-Held to Maturity of P812.63 billion included
Investments in Treasury Bills-Local and Foreign Currency amounting to P52.56
billion and P11.75 billion, respectively, where DBP got a share of 97.19 percent or
P51.09 billion from the local currency portion and 100 percent from the foreign
currency portion. The remaining amount pertained to Investments in Bonds-Local and
Foreign Currency amounting to P740.05 billion and P8.27 billion, respectively, where
LBP got a share of 41.63 percent or P308.06 billion from the local currency portion
and 98.01 percent or P8.10 billion from the foreign currency portion.
Financial Assets-Available for Sale Securities with an aggregate net amount of

P394.89 billion were largely made up of LBP’s domestic and foreign government and
private securities and investments in non-marketable securities amounting to P233.84
billion or 59.22 percent. SSS and Home Development Mutual Fund (HDMF) reported
also a large part amounting to P104.74 billion or 26.34 percent and P55.86 billion or
14.05 percent, respectively.
Financial Assets-Domestic Investments totaling P601.50 million was composed

mainly of BSP’s Due from Local Banks amounting to P600 million or 99.75 percent.
Investment Securities at Amortized Cost of P152.78 billion is composed mostly of

PDIC corporate investments totaling P151.81 billion or 99.37 percent consisting of
special savings and time deposits, treasury bills, notes and bonds.
Financial Assets at Fair Value Through Other Comprehensive Income amounting to

P832.73 million mostly consisted of non-traded stocks of GSIS which are equity
investments that are no longer listed or traded in the Philippine Stock Exchange
amounting to P806.29 million or 96.82 percent.
15. INVESTMENTS IN JOINT VENTURE
The gross amount of P8.40 billion with allowance for impairment loss of P4.23
million or a net of P8.39 billion was made up mostly of NHA’s equity on various
projects amounting to P5.34 billion or 63.57 percent. PNOC-EC also reported a
significant amount at P1.15 billion or 13.66 percent consisting of its oil, gas and coal
exploration projects either in partnerships with other oil companies or 100 percent
owned.
16. INVESTMENTS IN ASSOCIATES/AFFILIATES
Of the total net amount of P18.86 billion, P18.25 billion or 96.77 percent pertained to
Bases Conversion and Development Authority (BCDA) which represents its
investments to various affiliates, as follows:
47
2017 2016
Affiliates
(in thousand pesos)
Fort Bonifacio Development Corporation 14,648,932 14,752,212
Clark Development Corporation 2,813,507 2,813,507
John Hay Management Corporation 383,814 383,814
BCDA Management and Holdings, Incorporated 280,000 280,000
Northluzon Railways Corporation 100,000 100,000
Poro Point Management Corporation (PPMC) 68,144 68,144
Bonifacio Communication Corporation 27,500 27,500
Philippine Japan Initiative for CGC, Inc. 23,512 4,309
Bonifacio Estate Services Corporation 4,333 4,333
Subic Clark Alliance For Development 2,083 2,083
Clark International Airport Corporation 1,250 1,250
Filinvest BCDA Clark, Inc. 450 450
Total 18,353,526 18,437,603
Allowance for Impairment (100,000) -
Net Amount 18,253,526 18,437,603
17. INVESTMENTS IN SUBSIDIARIES
Of the net amount of P241.81 billion, among other GCs with investments in their
subsidiaries, PSALM recognized P218.21 billion or 90.24 percent representing the
cost or fair value of investments in National Transmission Corporation (TransCo).
Other GCs with Investments in Subsidiaries are as follows:
2017 2016
Name of GC
(in thousand pesos)
National Home Mortgage Finance Corporation (NHMFC) 14,379,145 13,379,145
Philippine National Oil Company 4,859,775 4,859,775
DBP 1,664,898 1,667,991
AFP Retirement and Separation Benefits System
(AFPRSBS) 1,375,458 1,380,201
Philippine Postal Corporation (PPC) 474,763 476,302
LBP 438,775 438,775
National Development Company (NDC) 402,315 441,988
Philippine Reclamation Authority 7,000 7,000
PNOC-EC - 625
Total 23,602,130 22,651,802
18. OTHER INVESTMENTS
The non-current portion of this group of accounts is broken down as follows:
2016
2017
(in thousand pesos)
Sinking Fund 41,615,698 53,765,770
Other Investments 80,971,377 78,117,482
Net Value-Other Investments 78,405,525 75,563,177
Total 130,861,270 133,916,143
48
Long-term Sinking Fund of P41.62 billion pertained mostly to PDIC amounting to
P39.88 billion or 95.83 percent which represents the balance of funds being
accumulated to repay its loans upon maturity, a portion of which is being managed by
the BSP-Treasury Department.
Investments in Time Deposits totaling P10.84 billion was divided into local and
foreign currency amounting to P3.24 billion or 29.88 percent and P7.60 billion or
70.12 percent, respectively, of which PNOC-EC recognized the highest amount of the
local currency portion at P1.73 billion or 53.50 percent while Subic Bay Metropolitan
Authority (SBMA) recognized P3.19 billion or 41.94 percent of the foreign currency
portion.
Net Other Investments amounting to P78.41 billion consists of Other Investments of

P76.56 billion, Investment in Stocks of P1.84 billion, and Investments in Non-
Marketable Securities of P2.75 million. Of the Other Investments, National Irrigation
Administration (NIA) recognized P69.33 billion or 90.55 percent, while of the
Investment in Stocks, HGC reported P855.22 million or 46.50 percent.
19. RECEIVABLES
2016
2017
(in thousand pesos)
Loans and Receivable Accounts 1,230,434,038 1,172,182,505
Net Value-Loans and Receivable Accounts 1,062,335,835 986,596,755
Lease Receivables 247,457,891 281,887,183
Net Value-Lease Receivables 247,349,706 281,780,166
Intra-Agency Receivables 30,629,080 29,961,286
Other Receivables 4,145,839 4,842,276
Net Value-Other Receivables 2,568,095 3,322,263
Total 1,528,959,832 1,492,854,585
The non-current portion of net Receivables aggregated P1.529 trillion, of which

Loans and Receivable Accounts got the highest amount of P1.062 trillion or 69.48
percent. Of the Loans and Receivable-Others of P502.04 billion, P210.23 billion or
41.88 percent pertained to DBP.
Net Lease Receivables of P247.35 billion or 16.18 percent of the total Receivables
pertained to Finance Lease Receivables, of which PSALM reported 98.56 percent or
P243.78 billion.
49
20. INVESTMENT PROPERTY
The details of this group of accounts are as follows:
2016
2017
(in thousand pesos)
Investment Property, Land 298,738,442 243,674,078
Net Value-Investment Property, Land 292,664,492 239,959,591
Investment Property, Buildings 32,179,514 41,226,597
Accumulated Depreciation (2,600,187) (2,831,866)
Net Value-Investment Property, Buildings 27,112,188 23,206,487
Construction in Progress-Investment Property, Buildings 70,031 60,055
Total 319,846,711 263,226,133
Of the net Investment Property, Land of P292.66 billion, BCDA got the biggest share
of P75.16 billion or 25.68 percent, while HDMF recognized a total of P17.03 billion
or 62.80 percent of the net Investment Property, Buildings. Of the P70.03 million
Investment Property, Buildings under construction, 71.27 percent or P49.91 million
pertained to PPMC’s construction in progress held in trust, which constitutes capital
expenditure projects for the construction of baywalk with events center which is
funded by BCDA.
21. PROPERTY, PLANT AND EQUIPMENT
This group of accounts consists of the following:
Accumulated
Accumulated Carrying
Accounts Gross Amount Impairment
Depreciation Amount
Losses
(in thousand pesos)
Land 266,832,406 - 2,984,679 263,847,727
Land Improvements 68,433,502 26,230,112 172,794 42,030,596
Infrastructure Assets 387,756,541 185,331,256 47,353 202,377,932
Buildings and Other
Structures 168,319,605 97,511,762 649,378 70,158,465
Machinery and Equipment 80,120,595 49,631,217 109,254 30,380,125
Transportation Equipment 19,758,213 11,617,289 4,042 8,136,881
Furniture, Fixtures and
Books 16,017,491 9,175,444 79,943 6,762,104
Leased Assets 1,026,906 464,740 950 561,216
Leased Assets
Improvements 2,974,092 1,661,372 909 1,311,810
Heritage Assets 718,880 1,244 - 717,637
Service Concession Assets 387,221,056 144,769,248 - 242,451,808
Exploration and Evaluation
Assets 16,839,136 9,294,062 - 7,545,073
Bearer Trees, Plants and
Crops 86 - 7 79
Other Property, Plant and
Equipment 16,386,081 8,308,509 261 8,077,310
Construction in Progress 170,228,665 - - 170,228,665
Total 1,602,633,253 543,996,256 4,049,571 1,054,587,426
50
Of the net amount of CY 2017 PPE of P1.055 trillion, Land amounting to P263.85
billion represents the highest component at 25.02 percent, where Philippine Ports
Authority (PPA) reported the biggest amount of P60.49 billion or 22.92 percent.
Service Concession Assets also formed a large part at a net of P242.45 billion or
22.99 percent which represents mainly the cost of power supply system amounting to
P132.74 billion or 54.75 percent, as a result of service concession arrangements of
TransCo.
Of the net amount of Infrastructure Assets aggregating P202.38 billion or 19.19

percent of the total PPE, NIA reported the highest amount of P77.22 billion or 38.15
percent which pertained to its water supply systems, power supply systems, and road
networks.
Construction in Progress has been recognized also with a large net amount at P170.23
billion or 16.14 percent, of which NIA represents 73.74 percent amounting to P125.53
billion, which pertained to its Infrastructure Assets under construction.
Compared to CY 2017, the balances of the PPE accounts for CY 2016 are as follows:
CY 2016
Accumulated
Gross Accumulated Carrying
Sub Major Group of Accounts Impairment
Amount Depreciation Amount
Losses
(in thousand pesos)
Land 262,800,621 - 2,869,608 259,931,013
Land Improvements 67,436,107 24,215,248 172,306 43,048,552
Infrastructure Assets 406,754,223 193,541,528 40,230 213,172,466
Buildings and Other Structures 166,292,888 87,718,473 640,824 77,933,590
Machinery and Equipment 76,685,223 47,040,084 108,527 29,536,611
Transportation Equipment 25,247,915 16,006,272 3,768 9,237,875
Furniture, Fixtures and Books 15,162,169 8,723,849 61,817 6,376,502
Leased Assets 1,009,325 421,225 950 587,150
Leased Assets Improvements 2,647,510 1,500,695 825 1,145,990
Heritage Assets 718,823 1,244 - 717,579
Service Concession Assets 337,237,839 123,500,879 - 213,736,960
Exploration and Evaluation Assets 16,795,240 8,294,350 - 8,500,890
Bearer Trees, Plants and Crops 86 - 6 80
Other Property, Plant and Equipment 11,878,380 8,249,906 261 3,628,213
Construction in Progress 166,554,028 - - 166,554,028
Total 1,557,220,375 519,213,754 3,899,123 1,034,107,498
51
22. BIOLOGICAL ASSETS
2016
2017
(in thousand pesos)
Bearer Biological Assets 101,440 96,585
Breeding Stocks 25 25
Livestock 101,252 96,397
Trees, Plants and Crops 4 4
Other Bearer Biological Assets 158 158
Consumable Biological Assets 5,888 5,983
Livestock Held for Consumption/
Sale/Distribution 40 92
Trees, Plants and Crops Held for
Consumption/Sale/Distribution 5,216 5,259
Other Consumable Biological Assets 633 633
Total 107,328 102,568
National Dairy Authority (NDA) recognized a net amount of P101.21 million of

Livestock representing 99.96 percent of the total amount. The total amount of
Breeding Stocks of P.025 million was solely reported by PCA, while both the whole
amounts of Trees, Plants and Crops, and Other Biological Assets were reported by
WDs.
Of the total amount of Trees, Plants and Crops Held for

Consumption/Sale/Distribution of P5.22 million, Philippine Rice Research Institute
(PRRI) reported more than half, amounting to P2.74 million or 52.62 percent. The
total amount of P0.63 million of Other Consumable Biological Assets was also
reported by PRRI.
23. INTANGIBLE ASSETS
Net amount of P3.79 billion was divided into Intangible Assets and Development in
Progress. Intangible Assets with a gross amount of P9.25 billion, accumulated
amortization of P5.45 billion, allowance for impairment of P78.23 million or a net
amount of P3.72 billion was composed mainly of the Computer Software of various
GCs amounting to P2.24 billion, of which DBP’s share amounted to P463.32 million
or 20.64 percent.
Of the Development in Progress totaling P69.63 million, 83.61 percent or P58.22

million pertained to Development in Progress-Other Intangible Assets, of which
Philippine Institute of Traditional and Alternative Health Care shared P57.32 million
or 98.46 percent.
24. DEFERRED TAX ASSETS
Total Deferred Tax Assets amounted to P17.53 billion, of which BSP recognized in
its books of accounts the highest amount of P6.15 billion or 35.07 percent.
52
25. OTHER NON-CURRENT ASSETS
This group of accounts is broken down as follows:
2016
2017
(in thousand pesos)
Prepayments 7,306,599 7,330,904
Deposits 2,946,248 2,032,065
Restricted Fund 40,499,804 31,478,411
Other Assets 53,867,744 48,731,487
Total 104,620,395 89,572,868
Advances to Contractors of P6.11 billion or 83.67 percent of the total Prepayments

has been reported mainly by North Luzon Railways Corporation (NORTHRAIL) at
P6.04 billion or 98.87 percent.
Of the total Restricted Fund of P40.50 billion, Philippine Retirement Authority (PRA)
reported P12.49 billion or 30.84 percent, pertaining to the required visa deposit from
retiree-members which are placed in time deposits with the DBP on a yearly basis.
Of the net amount of Other Non-Current Assets of P104.62 billion, Other Assets of
P53.87 billion or 51.49 percent was the highest component. Of this amount, P47.62
billion pertained to lumped amounts of Other Assets account of various GCs.
26. FINANCIAL LIABILITIES
The current portion of the Financial Liabilities is composed of the following accounts:
2017 2016
(in thousand pesos)
Payables 268,573,448 248,064,381
Bills/Bonds/Loans Payable 85,355,307 110,076,352
Tax Refunds Payable 42,059 39,686
Financial Liabilities Designated
Fair Value through Surplus/
Profit or Deficit/Loss 3,523,790 6,379,327
Financial Liabilities Held for
Trading 102,945 198,376
Domestic Securities Sold Under
Repurchase Agreements 305,057,187 305,057,187
Unsecured Subordinated Debt 9,995,686 9,990,837
Other Financial Liabilities 10,239,691 6,552,038
Total 682,890,113 686,358,185
Of the total current portion of financial liabilities of P682.89 billion, BSP recognized
the highest amount of P313.32 billion or 45.88 percent. The account Domestic
Securities Sold under Repurchase Agreements of P305.06 billion, comprises 44.67
percent, the highest component of the total current financial liabilities. The payables
accounts consist of the following:
53
2016
2017
(in thousand pesos)
Accounts Payable 133,414,030 113,724,381
Due to Officers and Employees 4,603,369 3,713,113
Notes Payable 39,686,478 50,782,203
Interest Payable 11,129,598 12,195,369
Operating Lease Payable 228,897 162,567
Finance Lease Payable 109,575 147,983
Awards and Rewards Payable 184 125
Service Concession Arrangements Payable 37,324,462 32,217,353
Accrued Benefits Payable 40,862,357 33,756,626
Insurance/Reinsurance Premium Payable 1,214,497 1,364,661
Total 268,573,448 248,064,381
Of the total accounts payable, HDMF had the largest share of P32.46 billion or 24.33
percent, which includes amount due to members representing the total accumulated
value of payables that have reached their maturity at financial position date but have
not been withdrawn, as well as those that will mature in the succeeding year. This also
includes amount due to developers/borrowers representing the amount deducted from
members’ loan take out proceeds. It also consists of accrual for operating expenses
already incurred at year-end but have not yet paid.
Of the Accrued Benefits Payable of P40.86 billion, Philippine Health Insurance

Corporation (PHIC) had the biggest share of P37.36 billion or 91.42 percent. Of the
Notes Payable of P39.69 billion, NFA got the biggest share amounting to P38.04
billion or 95.85 percent.
Of the total Bill/Bonds/Loans Payable of P85.36 billion, the DBP got the highest in
the amount of P29.16 billion or 34.16 percent representing Other Bills/Bonds/Loans
Payable. PSALM shared a total amount of P24.72 billion or 28.96 percent, consisting
of Loans Payable – Domestic of P21.90 billion, Net Bonds Payable – Foreign of
P2.49 billion, and Net Bonds Payable – Domestic of P331.74 million.
27. DEPOSIT LIABILITIES
The current portion of this group of liabilities, which accumulated this year a total of
P2.332 trillion, consists of the following accounts:
2016
2017
(in thousand pesos)
Foreign Currency Deposits 16,099,981 11,070,705
Demand Deposit 855,369,974 669,046,222
Demand Deposit-Others 115,052,829 111,089,598
Savings Deposit 820,013,847 780,051,821
Fixed-term Deposit 186,429,856 765,809,422
Time Certificates of Deposit 57,417,586 46,905,481
Special Deposit Account 282,090,449 96,542,117
Total 2,332,474,522 2,480,515,365
Of the total Deposit Liabilities of P2.332 trillion, LBP reported the highest amount
totaling P1.412 trillion or 60.55 percent pertaining to Demand Deposit of P709.51
54
billion, Savings Deposit of P645.77 billion, and Time Certificates of Deposit of
P57.11 billion. BSP reported a total of P599.67 billion or 25.71 percent consisting of
Special Deposit Account of P282.09 billion, Fixed-term Deposit of P186.43 billion,
Demand Deposit-Others of P115.05 billion, and Foreign Currency Deposits of P16.10
billion.
28. INTER-AGENCY PAYABLES
2016
2017
(in thousand pesos)
Inter-Agency Payables 361,576,986 364,524,002
Due to BSP/Other
Banks/Others 60,481,847 56,701,304
Total 422,058,833 421,225,306
Of the total Inter-Agency Payables of P361.58 billion, P200.08 billion or 55.34

percent pertained to Due to Treasurer of the Philippines, of which NIA shared P65.38
billion. Of the Due to Subsidiaries/Joint Venture/Associates/Affiliates of P107.97
billion representing 29.86 percent of the total Inter-Agency Payables, PSALM
reported P105.47 billion or 97.68 percent.
Of the Due to BSP/Other Banks/Others of P60.48 billion, 98.85 percent or P59.79

billion pertained to BSP’s Allocation of Special Drawing Rights.
29. INTRA-AGENCY PAYABLES
2016
2017
(in thousand pesos)
Due to Operating Units 136,673,714 155,145,856
Due to Other Funds 3,282,794 7,000,399
Due to Central/Home/Head Office 149,661,516 186,812,450
Due to Regional/Branch Offices 18,417,804 36,045,853
Total 308,035,828 385,004,558
Of the total amount of Intra-agency payables of P308.04 billion, NFA’s P300.47

billion is the highest registering 97.54 percent, wherein NFA recorded P133.72 billion
or 97.84 percent for Due to Operating Units, P148.55 billion or 99.26 percent for Due
to Central/Home/Head Office, and P18.20 billion or 98.79 percent for Due to
Regional/Branch Offices.
55
30. TRUST LIABILITIES
The current portion of this group of accounts consists of:
2016
2017
(in thousand pesos)
Trust Liabilities 17,453,596 14,164,975
Bail Bonds Payable 66,079 63,778
Guaranty/Security Deposits Payable 13,619,179 9,750,112
Customers' Deposits Payable 25,316,714 14,512,333
Margin Deposits 14,984,224 15,025,640
Total 71,439,792 53,516,837
Of the total Customers’ Deposits Payable of P25.32 billion, the Philippine

International Trading Center shared P19.64 billion or 77.59 percent.
Of the Trust Liabilities of P17.45 billion, PSALM shared P6.07 billion or 34.77
percent, while Margin Deposits of P14.98 billion was 100 percent reported by LBP.
31. DEFERRED CREDITS/UNEARNED INCOME
2016
2017
(in thousand pesos)
Deferred Credits 21,585,039 13,040,016
Unearned Revenue/Income 11,856,548 6,289,175
Total 33,441,587 19,329,191
Of the total deferred credits/unearned income of P33.44 billion, PSALM recognized

the highest, amounting to P18.74 billion or 56.04 percent.
Of the Deferred Credits of P21.58 billion, PSALM reported a total of P10.88 billion
or 50.39 percent consisting of Output Tax of P8.28 billion and Deferred Finance
Lease Revenue of P2.60 billion.
Of the Unearned Revenue/Income of P11.86 billion, the amount of P7.86 billion or

66.34 percent pertained to PSALM representing Other Unearned Revenue/Income.
32. PROVISIONS
2016
2017
(in thousand pesos)
Pension Benefits Payable 10,643 10,782
Leave Benefits Payable 1,593,465 1,334,575
Retirement Gratuity Payable 282,194 289,698
56
2016
2017
(in thousand pesos)
Other Provisions 8,888,142 484,089
Total 10,774,444 2,119,145
PSALM reported P8.40 billion or 94.55 percent of the total Other Provisions of P8.89
billion. This was recognized to reflect the Supreme Court’s Resolution dated
November 21, 2017 under G.R. No. 156208 filed by the National Power Corporation
(NPC) Drivers and Mechanics Association. As the Resolution ruled that “petitioners
who were neither rehired by the NPC or absorbed by PSALM Corporation or TransCo
pursuant to the 2003 reorganization and subsequently employed in the private sector
shall be entitled to full back wages”, PSALM accordingly recognized a provision for
the claims of said former NPC employees who were not rehired.
33. OTHER PAYABLES
2016
2017
(in thousand pesos)
Treasurer/Cashier/Manager's Check 1,756,079 1,503,435
Payment Order Payable 57,674 99,692
Undistributed Collections 3,894,982 3,692,984
Unclaimed Balances 13,713 16,574
Liability for Letters of Credit 9,591,811 6,990,389
Outstanding Acceptances Executed by or for Account of
the Bank 107,943 579,817
Dividends Payable 12,271,135 7,704,333
Servicing Liabilities 31 5
Insured Deposit Claims Payable 181,300 294,072
Return Premiums Payable 260,860 264,580
No Claim Bonus Payable 97 94
Other Payables 46,232,673 45,654,425
Total 74,368,297 66,800,399
Of the total Dividends Payable of P12.27 billion, PDIC, Philippine Amusement and
Gaming Corporation (PAGCOR), and MIAA topped the GCs with balances of P2.84
billion or 23.18 percent, P2.59 billion or 21.13 percent, and P2.25 billion or 18.34
34. FINANCIAL LIABILITIES
The non-current portion of the Financial Liabilities is composed of the following:
2016
2017
(in thousand pesos)
Payables 263,497,813 285,999,898
Bills/Bonds/Loans Payable 605,896,819 622,671,761
57
2016
2017
(in thousand pesos)
Other Financial Liabilities 2,164 2,164
Total 869,396,796 908,673,823
Of the total Payables of P263.50 billion, the amount of P198.88 billion or 75.48
percent pertained to Service Concession Arrangements Payable of PSALM to the
Independent Power Producer (IPP) proponent representing Capital Recovery Fees of
the Build-Operate-Transfer (BOT) power plants during the cooperation period
indicated in the BOT contracts. It also included fixed cost payable to BOT plants
under IPP Administrators Administration Agreement.
Major components of Bills/Bonds/Loans Payable of P605.90 billion pertained to

Loans Payable-Domestic of P200.06 billion or 33.02 percent, Bonds Payable-Foreign
of P173.63 billion or 28.50 percent, and Other Bills/Bonds/Loans Payable of P92.17
The NFA reported P70.57 billion or 35.28 percent of the total Loans Payable-
Domestic, which included ten-year notes/loans from different banks syndicated by
DBP and LBP dated November 28, 2011 and October 29, 2014 with due dates of
November 28, 2021 and of October 29, 2024, respectively.
PSALM reported P157.76 billion or 91.34 percent of the net Bonds Payable-Foreign,
while DBP reported P67.92 billion or 73.69 percent of the total Other
Bills/Bonds/Loans Payable.
35. CURRENCY ISSUED
Currency Issued of P1.267 trillion, composed of Philippine currency notes and coins
in circulation issued by BSP, was recognized at face value and fully guaranteed by the
government of the ROP in favor of the holder.
In accordance with Section 51 of Republic Act (R.A.) 7653, or the New Central Bank
Act, notes and coins issued by the BSP shall be liabilities of BSP and may be issued
only against, and in amounts not exceeding, the assets of the BSP. Said notes and
coins shall be a first and paramount lien on all assets of the BSP. Also, notes and
coins held in the BSP’s vaults are deducted from the total currency issued, and
accordingly, do not form part of the assets or liabilities of the BSP.
36. DEPOSIT LIABILITIES
The non-current portion of Deposit Liabilities represents local and foreign currency
deposits of the clients of government banks. This consists of the following:
2016
2017
(in thousand pesos)
Demand Deposit-Reserves 1,868,885,238 1,633,235,188
58
2016
2017
(in thousand pesos)
Demand Deposit-Others 29,748,382 29,839,786
Fixed-term Deposit 31,365,953 30,143,953
Time Certificates of Deposit 102,478,377 95,244,516
Long-term Negotiable Certificates of Deposit 11,000,000 11,000,000
Total 2,043,477,950 1,799,463,444
The Demand Deposit-Reserves, Demand Deposit-Others, and Fixed-term Deposit

were reported solely by BSP. Of the Time Certificates of Deposit of P102.48 billion,
P100.40 billion or 97.97 percent was reported by DBP. Long-term Negotiable
Certificates of Deposit was reported solely by LBP.
37. INTER-AGENCY PAYABLES
The non-current portion of this group of accounts consists of:
2016
2017
(in thousand pesos)
Due to NGAs 438,189,955 439,730,840
Due to Government Corporations 7,520,097 7,629,019
Due to LGUs 5,972 2,560
Due to Subsidiaries/Joint Venture/Associates/Affiliates 201,050 196,957
Due to Parent Corporations 298,858 298,902
Total 446,215,932 447,858,277
Of the account Due to NGAs of P438.19 billion, P413.15 billion or 94.29 percent was
reported by the Central Bank-Board of Liquidators (CB-BOL). Of the Due to
Government Corporations of P7.52 billion, the amount of P4.90 billion or 65.12
percent was reported by TransCo.
38. INTRA-AGENCY PAYABLES
The non-current portion of this group of accounts are as follows:
2016
2017
(in thousand pesos)
Due to Other Funds 821 2,800
Due to Central/Home/Head Office 30,405 22,969
Total 31,226 25,769
PPMC reported P18.44 million or 60.64 percent of the total Due to

Central/Home/Head Office while BCDA Management and Holdings, Incorporated
reported solely the Due to Other Funds.
59
39. TRUST LIABILITIES
The non-current portion of this group of accounts consists of the following:
2016
2017
(in thousand pesos)
Trust Liabilities-Disaster Risk Reduction and
Management Fund 1 1,950
Bail Bonds Payable 58,702 59,205
Guaranty/Security Deposits Payable 4,727,398 4,187,659
Customers' Deposits Payable 1,817,227 1,605,300
Total 47,824,453 43,735,086
Of the aggregate amount of Trust Liabilities of P47.82 billion, the four GCs with
highest amount are: Social Housing Finance Corporation (SHFC) – P15.00 billion or
31.37 percent; PRA – P12.46 billion or 26.05 percent; NPC – P5.59 billion or 11.68
percent; and HGC – P4.18 billion or 8.74 percent.
SHFC trust liabilities consisted of: NHMFC – P14.09 billion; Abot-Kaya Pabahay
Fund – P552.13 million; Department of the Interior and Local Government – P350.00
million; and Department of Social Welfare and Development – P10.36 million.
40. DEFERRED CREDITS/UNEARNED INCOME
The non-current portion consists of Deferred Credits of P258.58 billion and Unearned
Revenue/Income of P41.91 billion. Deferred Service Concession Revenue of P152.14
billion represents 58.84 percent of the total Deferred Credits, of which TransCo
shared P139.21 billion or 91.50 percent.
41. PROVISIONS
2016
2017
(in thousand pesos)
Pension Benefits Payable 26,812 23,841
Leave Benefits Payable 2,710,516 2,548,138
Retirement Gratuity Payable 5,174,739 4,440,622
Other Provisions 26,146,813 22,859,721
Total 34,058,880 29,872,322
PHIC recognized P24.80 billion or 72.80 percent of the total Provisions of P34.06
billion. This pertained to a separate fund for the benefit claims reserve of the existing
lifetime members as stipulated in Section 17 of R.A. No. 10606.
60
42. DEFERRED TAX LIABILITIES
The aggregate of Deferred Tax Liabilities for CY 2017 was P12.63 billion with an
increase of P1.83 billion or 16.99 percent from CY 2016 of P10.79 billion. The top
five GCs which contributed substantial amount to this account are:
Amount
Name of Government Corporation Percent
(in thousand pesos)
Philippine National Construction Corporation 4,595,208 36.39
PNOC 2,754,435 21.81
NDC 2,521,500 19.97
HGC 722,364 5.72
PNOC-Alternative Fuels Corporation 695,544 5.51
43. OTHER PAYABLES
2016
2017
(in thousand pesos)
Special Time Deposit - 40,000
Undistributed Collections 41,188 35,739
Unclaimed Balances 130,036 169,890
Dividends Payable 1,551,768 1,868,851
Other Payables 407,920,970 327,938,651
Total 409,643,961 330,053,131
Of the Other Payables of P407.92 billion, BSP had the biggest share of P383.54
44. NET ASSETS/EQUITY
Net Assets/Equity is broken down as follows:
2016
2017
Particulars ((Restated)
(in thousand pesos)
Accumulated Surplus/(Deficit) (20,169,082) (51,645,673)
Contributed Capital 107,385,108 104,060,208
Retained Earnings/(Deficit) 2,246,511,886 2,045,527,741
Stockholders' Equity 350,016,941 321,700,890
Share Capital 318,594,720 290,778,672
Share Premium 1,255,832 1,255,832
Subscribed Share Capital 23,466,830 22,966,828
Treasury Shares (18,130) (18,130)
Other Equity Instruments 6,717,689 6,717,689
Cumulative Translation Adjustment (123,521) (44,075)
Cumulative Changes in Fair Value 24,983,625 18,065,589
Members’ Equity 362,210,007 318,372,760
Total 3,273,302,824 2,971,472,662
61
The total Government Equity of P137.13 billion is composed of the Accumulated
Surplus/(Deficit) of negative P20.17 billion, Government Equity of P49.92 billion,
and Contributed Capital of P107.38 billion. CY 2017 Accumulated Surplus/(Deficit)
of GCs classified as Non-GBEs resulted in a negative balance due to the loss in the
operations of some GCs especially CB-BOL, being an institution under liquidation,
has continued to incur deficit amounting to P413.12 billion. NFA also incurred a huge
amount at P151.77 billion deficit. The deficit was reduced by GCs with large amount
of Accumulated Surplus namely; NIA, TransCo, and NHA amounting to P225.67
billion, P152.08 billion, and P106.03 billion, respectively.
Government Equity amounting to P49.92 billion represents the equity contributions of

the NG to the GCs. The Light Rail Transit Authority (LRTA), Veterans Federation of
the Philippines, and MIAA recognized the biggest amounts of P21.62 billion or 43.30
percent, P10.16 billion or 20.35 percent, and P7.19 billion or 14.41 percent,
respectively.
Of the Contributed Capital of P107.39 billion, CAAP and SBMA recognized the
largest amounts of P36.51 billion or 34 percent and P19.99 billion or 18.61 percent,
respectively.
Revaluation Surplus totaling P152.57 billion represents the cumulative amounts of

appraisal increments of fixed assets, of which PPA and MWSS reported P78.79
billion or 51.64 percent and P28.43 billion or 18.63 percent, respectively.
Retained Earnings is the cumulative results of normal and continuous operations of

GCs classified as GBEs including prior period adjustments, effects of changes in
accounting policy, and other capital adjustments. For CY 2017, GSIS had the highest
Retained Earnings of P1.097 trillion or 48.81 percent, followed by SSS with P496.60
Based on the total Stockholders’ Equity of P350.02 billion, Share Capital formed the
largest part at P318.59 billion or 91.02 percent, of which BCDA reported the highest
amount of P100 billion or 31.39 percent. BSP and CAAP reported the same amount of
Share Capital at P50 billion or 15.69 percent.
Total Members’ Equity of P362.21 billion represents mainly HDMF’s equity of the
members as owners of Pag-IBIG Fund amounting to P361.44 billion or 99.79 percent,
corresponding to members’ contributions, employers’ counterpart for employed
members and the accumulated dividends. The remaining amount of P773.93 million
or 0.21 percent was reported by SSS pertaining to the contributions of Flexi Fund and
PESO Fund members which earn interest based on guarantee rates.
45. TAX REVENUE
The Tax Revenue of P2.85 billion was recognized solely in the books of accounts of
Tourism Infrastructure and Enterprise Zone Authority (TIEZA) which represents the
travel taxes collected, net of shares of other government agencies pursuant to Section
72 of R.A. 9593.
62
46. SERVICE AND BUSINESS INCOME
The total Service and Business Income of P923.99 billion is broken down as follows:
2016
2017
(in thousand pesos)
Service Income 22,509,326 23,825,289
Business Income 901,480,549 837,287,476
Total 923,989,875 861,112,765
Members’ Contribution recognized in the books of accounts of SSS, GSIS and PHIC
of P158.36 billion, P101.81 billion and P57.26 billion, respectively, or a total of
P317.43 billion or 35.21 percent is the biggest part of the total Business Income of
P901.48 billion. This was followed by Interest Income of P253.79 billion or 28.15
percent, of which P58.27 billion or 22.96 percent was earned by BSP.
Of the Income from Gaming Operations of P65.13 billion or 7.22 percent, P57.34
billion or 88.04 percent was earned by PAGCOR.
The top three sources of Service Income were: a) Supervision and Regulation
Enforcement Fees of P5.20 billion or 23.09 percent, of which BSP recognized P4.50
billion or 86.64 percent; b) Fees and Commissions Income of P4.52 billion or 20.08
percent, of which LBP reported P1.78 billion or 39.38 percent; and c) Other Service
Income of P3.30 billion or 14.67 percent, of which Philippine Charity Sweepstakes
Office reported P779.47 million or 23.61 percent.
47. SHARES, GRANTS AND DONATIONS
2016
2017
(in thousand pesos)
Shares 20,070,659 20,145,444
Grants and Donations 365,253 196,422
Total 20,435,913 20,341,866
Share in Universal Charge of P19.77 billion represents 98.48 percent of the total
Shares of P20.07 billion. This account is used to recognize the share of PSALM and
NPC on the Universal Charge being collected by distribution utilities from all power
customers. PSALM and NPC reported P11.10 billion or 56.17 percent and P8.66
billion or 43.83 percent, respectively.
63
48. GAINS
Gains amounting to P164.24 billion consist of the following:
2016
2017
(in thousand pesos)
Gain on Foreign Exchange 24,206,987 40,437,821
Gain on Sale/Redemption/Transfer of investments 8,992,267 11,829,906
Gain on Sale of Investment Property 4,762,987 4,155,945
Gain on Sale of Property, Plant and Equipment 3,881,396 2,318,139
Gain on Sale of Biological Assets 1,398 -
Gain from Changes in Fair Value Less Cost to Sell of
Biological Assets Due to Physical Change 1 37
Gain on Sale of Agricultural Produce 998 133
Gain from Changes in Fair Value of Financial Instruments 99,655,318 122,199,893
Gain from Changes in Fair Value of Investment Property 21,095,792 11,819,727
Other Gains 1,640,075 1,464,630
Total 164,237,220 194,226,231
Gain from Changes in Fair Value of Financial Instruments of P99.65 billion

represents 60.68 percent of the aggregate amount of Gains, followed by Gain on
Foreign Exchange of P24.21 billion or 14.74 percent, and Gain from Changes in Fair
Value of Investment Property of P21.10 billion or 12.84 percent.
The bulk amount of Gain from Changes in Fair Value of Financial Instruments was
recognized in the books of accounts of GSIS at P97.92 billion or 98.26 percent.
SSS reported P9.63 billion or 45.64 percent of total Gain from Changes in Fair Value
of Investment Property resulting from continuous developments and economic growth
in the country’s central business districts and the rising demand for space in the areas
where SSS property are located, while BSP recognized P15.48 billion or 63.94
percent of total Gain on Foreign Exchange.
49. OTHER NON-OPERATING INCOME
The composition of this group of accounts is as follows:
2016
2017
(in thousand pesos)
Sale of Assets 21,047 17,395
Reversal of Impairment Loss 4,316,590 10,655,111
Miscellaneous Income 24,744,423 7,426,236
Total 29,082,060 18,098,742
Of the total Miscellaneous Income of P24.74 billion, the amount of P18.21 billion was
substantially recognized by BSP and BCDA at P12.59 billion or 50.87 percent and
P5.62 billion or 22.71 percent, respectively.
The BCDA’s miscellaneous income includes P5.40 billion received from Bonifacio
Global (BG) North Properties Incorporated, BG South Properties Incorporated, and
64
BG West Properties Incorporated, arising from the Business Resolution Agreement
for the sale of several parcels of land referred to as the “North Central Business
District Lots and the City Center Lots” located in BG City.
50. PERSONNEL SERVICES
The Personnel Services (PS) of P89.83 billion is composed of the following:
2016
2017
(in thousand pesos)
Salaries and Wages 52,269,373 47,584,621
Other Compensation 19,070,903 20,070,028
Personnel Benefit Contributions 11,762,119 11,454,545
Other Personnel Benefits 6,730,703 6,049,031
Total 89,833,099 85,158,225
` The three GCs that incurred the biggest PS were: BSP – P13.44 billion or 14.96
percent; LBP – P11.27 billion or 12.55 percent; and WDs – P8.31 billion or 9.25
percent.
Of the total Salaries and Wages of P52.27 billion or 58.18 percent of the total PS,
P50.32 billion or 96.27 percent was paid for the services rendered by regular
government employees, of which P11.27 billion or 22.40 percent and P9.40 billion or
18.69 percent was recognized by LBP and BSP, respectively.
The Other Compensation of P19.07 billion represents 21.23 percent of the total PS,
which was mostly spent for Other Bonuses and Allowances of P8.74 billion or 45.81
percent. The HDMF with P1.41 billion or 16.14 percent, PAGCOR with P1.32 billion
or 15.16 percent, and PHIC with P1.10 billion or 12.58 percent were the top GCs that
reported Other Bonuses and Allowances.
Of the Personnel Benefit Contributions of P11.76 billion, P7.66 billion or 65.17

percent pertained to Provident/Welfare Fund Contributions, of which P2.24 billion or
29.20 percent was recognized by BSP while P3.62 billion or 30.82 percent pertained
to Retirement and Life Insurance Premiums, of which P500.51 million or 13.81
percent was also recognized by BSP.
Of the total balance of Other Personnel Benefits of P6.73 billion, P1.86 billion or
27.65 percent was reported by PAGCOR representing mainly of Retirement Gratuity
of P1.20 billion, and Other Personnel Benefits of P641.11 million.
65
51. MAINTENANCE AND OTHER OPERATING EXPENSES
Maintenance and Other Operating Expenses (MOOE) consists of the following:
2016
2017
(in thousand pesos)
Traveling Expenses 1,791,029 1,621,780
Training and Scholarship Expenses 1,040,819 927,840
Supplies and Materials Expenses 31,512,759 27,510,134
Utility Expenses 9,210,209 8,815,184
Communication Expenses 1,620,126 1,493,308
Awards/Rewards, Prizes and Indemnities 129,074 74,610
Survey, Research, Exploration and Development Expenses 109,602 129,623
Demolition/Relocation and Desilting/Drilling/Dredging
Expenses 275,892 330,441
Generation, Transmission and Distribution Expenses 24,203,209 22,466,630
Confidential, Intelligence and Extraordinary Expenses 6,835,330 6,375,555
Professional Services 4,943,504 4,447,101
General Services 7,469,319 7,305,815
Repairs and Maintenance 7,015,008 7,410,631
Taxes, Insurance Premiums and Other Fees 18,283,563 16,609,438
Labor and Wages 1,376,593 1,095,312
Members' Benefits 374,631,153 321,848,184
Receivership and Liquidation Expenses 253,763 258,137
Other Maintenance and Operating Expenses 49,425,874 61,096,501
Total 540,126,826 489,816,222
The significant amounts in this group of accounts were mostly incurred in Members’
Benefits, Other Maintenance and Operating Expenses, Supplies and Materials
Expenses, and Generation, Transmission and Distribution Expenses.
The Members’ Benefits of P374.63 billion was mostly recognized by SSS, PHIC, and
GSIS at P170.68 billion or 45.56 percent, P110.49 billion or 29.49 percent, and 93.34
billion or 24.91 percent, respectively, or a total amount of P374.51 billion or 99.97
percent. This account is used to recognize amounts of benefits given to members and
their beneficiaries, which include hospitalization, medicines, injury, disability, death,
and pension and retirement benefits.
The Other MOOE of P49.43 billion was 9.15 percent of the total MOOE, of which
BSP and PSALM reported P9.25 billion or 18.72 percent and P8.97 billion or 18.14
Of the total amount of Supplies and Materials Expenses of P31.51 billion, P23.76
billion or 75.41 percent pertained to Fuel, Oil and Lubricants Expenses, of which
PSALM reported P22.95 billion or 96.59 percent representing the natural gas and
diesel for the operations of plants under the IPP and Administrators Administration
Agreement and fuel incurred in the operation of the Malaya Thermal Power Plant.
The P21.43 billion or 88.54 percent of the total amount of Generation, Transmission
and Distribution Expenses of P24.20 billion recognized in the books of accounts of
PSALM pertains to the expenses associated with the generation of power of the
remaining plants.
66
52. FINANCIAL EXPENSES
2016
2017
(in thousand pesos)
Management Supervision/Trusteeship Fees 455,439 392,564
Interest Expenses 84,839,952 95,503,742
Guarantee Fees 3,673,560 636,752
Bank Charges 42,061 62,219
Commitment Fees 329 116
Other Financial Charges 2,474,508 5,185,840
Total 91,485,849 101,781,233
Of the total amount of Financial Expenses of P91.49 billion, P84.84 billion or 92.74
percent were Interest Expenses, of which BSP reported P35.50 billion or 41.85
percent it has incurred on its foreign and local currency financial liabilities of P2.65
billion and P32.86 billion, respectively. The other GCs that reported big amounts of
Interest Expenses were: PSALM, LBP, and DBP at P17.97 billion or 21.18 percent,
P9.82 billion or 11.58 percent, and P7.43 billion or 8.76 percent, respectively.
53. DIRECT COSTS
Of the total amount of Direct Costs of P38.71 billion, P28.17 billion or 72.76 percent
was the Cost of Sales recognized by NFA and Duty Free Philippines Corporation
(DFPC) of P19.39 billion or 50.08 percent, and P8.78 billion or 22.68 percent,
respectively. DFPC’s Cost of Sales was composed of direct merchandise including
consignment of P477.07 million and concession of P8.30 billion.
54. NON-CASH EXPENSES
The breakdown of this group of accounts is as follows:
2016
2017
(in thousand pesos)
Depreciation 30,200,689 30,500,879
Amortization 652,407 585,901
Impairment Loss 17,410,934 28,775,364
Losses 115,593,523 168,562,363
Discounts and Rebates 77,736 141,266
Total 163,935,288 228,565,773
The total Non-Cash Expenses of P163.93 billion was mostly incurred by: GSIS at
P78.70 billion or 48.01 percent; PDIC at P19.38 billion or 11.82 percent; and HDMF
at P14.07 billion or 8.59 percent, totaling P112.15 billion or 68.42 percent.
Of the Losses of P115.59 billion, P78.07 billion or 67.54 percent was reported by
GSIS, composed mainly of Loss from Changes in Fair Value of Financial Instruments
of P66.17 billion or 84.75 percent.
67
The top three components of Depreciation Expenses of P30.20 billion were
depreciation on: a) Service Concession Assets of P7.67 billion or 25.39 percent, of
which TransCo reported P4.30 billion or 56.08 percent; b) Infrastructure Assets of
P7.18 billion or 23.79 percent, of which CAAP reported P1.84 billion or 25.59
percent; and c) Other PPE of P4.63 billion or 15.34 percent, of which MIAA reported
P1.39 billion or 30.02 percent.
55. INCOME TAX EXPENSES
Most of the Income Tax Expenses of P13.19 billion was reported by the following
GCs:
Amounts Percent to
Name of GC
(in thousand pesos) Total
PPA 2,171,896 16.47
MIAA 1,710,561 12.97
DBP 1,403,030 10.64
BSP 1,140,562 8.65
NDC 966,292 7.33
PNOC-EC 906,426 6.87
Food Terminal
Incorporated (FTI) 892,201 6.76
PSALM 730,323 5.54
Philippine Economic
Zone Authority (PEZA) 585,711 4.44
NPC 520,277 3.94
Sub-total 11,027,279 83.61
Other GCs 2,162,884 16.39
Total 13,190,163 100.00
56. NET ASSISTANCE/SUBSIDY
The Net Assistance/Subsidy of P77.80 billion was arrived at as follows:
2016
2017
(in thousand pesos)
Assistance and Subsidy 129,559,719 135,601,923
Subsidy from National Government 125,013,152 131,323,471
Subsidy from Other National Government
Agencies 692,287 567,259
Assistance from Local Government Units 2,337,646 2,386,502
Subsidy from Other Funds 1,488,146 1,300,384
Subsidy from Regional Office/Staff Bureau 28,487 24,306
Less: Financial Assistance/Subsidy/Contribution 51,758,369 42,666,410
Financial Assistance to NGAs 39,709,479 34,730,033
Financial Assistance to Local Government Units 989,025 914,355
Financial Assistance to NGOs/POs 52,112 100,483
Subsidy to Operating Units 1,355,590 1,162,827
Subsidy to Other Funds 124 42
Financial Assistance to Government
Corporations 80,752 75,490
Contribution to AFP Modernization 4,155,112 1,397,960
Financial Assistance/Subsidy/Contribution-
Others 5,416,174 4,285,219
Net Assistance/Subsidy 77,801,350 92,935,512
68
Of the Subsidy from NG of P125.01 billion, PHIC, NIA, and NHA received P46.99
billion or 37.59 percent; P31.69 billion or 25.35 percent; and P19.56 billion or 15.64
percent, respectively. Of the Financial Assistance to NGAs of P39.71 billion, P37.82
billion or 95.25 percent was reported by PAGCOR.
57. OTHER COMPREHENSIVE INCOME/(LOSS)
The positive balance in the Other Comprehensive Income/(Loss) for CY 2017 of

P6.70 billion mostly pertained to Changes in Fair Value of Investments of P6.84
billion, which is net of total Unrealized Gain of P11.00 billion and Unrealized Loss of
P4.16 billion. SSS reported P7.49 billion or 68.07 percent of the total Unrealized
Gain.
58. COMPREHENSIVE INCOME/(LOSS)
The combined Comprehensive Income for CY 2017 of P287.82 billion is net of total
Comprehensive Income of P308.14 billion and total Comprehensive Loss of P20.31
billion. Among the GCs, GSIS registered as top earner with Comprehensive Income
of P94.71 billion or 30.74 percent of the total Comprehensive Income. The four GCs
which incurred the biggest Comprehensive Loss were as follows: PHIC – P4.75
billion or 23.39 percent; NFA – P4.65 billion or 22.87 percent; PSALM – P4.27
billion or 21.02 percent; and LRTA – P2.71 billion or 13.33 percent.
59. CASH INFLOWS FROM OPERATING ACTIVITIES
The cash inflows from operating activities of P1.831 trillion were sourced from the
following:
2016
2017
(in thousand pesos)
Proceeds from Sale of Goods and Services 24,928,079 21,856,523
Collection of Income/Revenue 837,438,493 776,618,090
Receipt of Assistance/Subsidy 122,660,432 106,189,753
Collection of Receivables 371,219,862 354,706,495
Receipt of Inter-Agency Fund Transfers 14,310,774 14,444,334
Receipt of Intra-Agency Fund Transfers 27,936,386 40,858,331
Trust Receipts 32,736,648 25,639,688
Other Receipts 397,214,203 347,711,126
Total Cash Inflows 1,828,444,877 1,688,024,339
Adjustments 2,177,813 4,175,134
Adjusted Cash Inflows 1,830,622,690 1,692,199,474
Collection of income/revenue of P837.44 billion represents 45.75 percent of the total

adjusted cash inflows from operating activities. The GCs that reported the highest
collections of income/revenue were: SSS – P176.09 billion or 21.03 percent; GSIS –
P107.23 billion or 12.80 percent; and BSP – P74.57 billion or 8.90 percent.
69
Of the Other Receipts of P397.21 billion, P203.20 billion or 51.16 percent was
reported by LBP. Of the total amount of collection of receivables of P371.22 billion,
P211.91 billion or 57.09 percent pertained to the collection of loans and receivables
by DBP.
60. CASH OUTFLOWS FROM OPERATING ACTIVITIES
The cash outflows from operating activities of P1.478 trillion were used for the
following:
2016
2017
(in thousand pesos)
Payment of Expenses 355,853,551 356,404,640
Purchase of Inventories 14,163,411 15,461,056
Grant of Cash Advances 2,958,400 3,236,480
Prepayments 21,420,763 19,124,926
Refund of Deposits 3,780,971 4,883,207
Payments of Accounts Payable 151,922,920 141,966,974
Remittance of Personnel Benefit Contributions and
Mandatory Deductions 41,773,301 39,977,364
Grant of Financial Assistance/Subsidy/Contribution 41,840,381 39,083,443
Release of Inter-Agency Fund Transfers 6,202,531 9,018,468
Release of Intra-Agency Fund Transfers 32,842,333 40,460,363
Release of Loans (Financial Institutions) 323,013,751 308,176,600
Other Disbursements 481,023,472 456,405,241
Total Cash Outflows 1,476,795,787 1,434,198,761
Adjustments 1,454,838 1,269,505
Adjusted Cash Outflows 1,478,250,625 1,435,468,266
Of the Other Disbursements of P481.02 billion, a total of P402.60 billion or 83.70

percent was reported by: SSS – P170.68 billion or 35.48 percent; LBP – P126.10
billion or 26.22 percent; and DBP – P105.81 billion or 22.00 percent.
Of the Payment of Expenses of P355.85 billion or 24.07 percent of the total cash
adjusted outflows from operating activities, PHIC recognized P100.40 billion
payment of MOOE and P40.81 billion payment of PS.
Of the total amount of Release of Loans (Financial Institutions) of P323.01 billion,

P229.33 billion or 71 percent was reported by DBP.
61. CASH INFLOWS FROM INVESTING ACTIVITIES
The cash inflows from investing activities are composed of the following:
2016
2017
(in thousand pesos)
Proceeds from Sale/ Disposal of Investment Property 1,175,460 1,221,022
Proceeds from Sale/Disposal of Property, Plant and
Equipment 2,993,249 1,375,357
Sale of Investments 237,911,424 122,281,753
70
2016
2017
(in thousand pesos)
Receipt of Interest Earned 48,887,796 44,790,478
Receipt of Cash Dividends 6,163,529 6,998,543
Proceeds from Matured Investments/Redemption of
Long-term Investments/Return on Investments 341,807,904 351,429,528
Collection of Long-Term Loans 127,062,365 116,470,691
Proceeds from Sale of Other Assets 14,526 207,886
Total Cash Inflows 766,016,252 644,775,257
Adjustments 25,526,262 24,345,189
Adjusted Cash Inflows 791,542,514 669,120,446
Proceeds from Matured Investments/Redemption of Long-term Investment/Return on

Investments of P341.81 billion represents 43.18 percent of the total adjusted cash
inflows, of which HDMF reported P104.18 billion or 30.48 percent.
Sale of Investments of P237.91 billion includes DBP’s proceeds from sale of

stocks/bonds/domestic/marketable securities of P110.44 billion or 46.42 percent.
Of the total collection of long-term loans of P127.06 billion, GSIS reported P126.81
62. CASH OUTFLOWS FROM INVESTING ACTIVITIES
The cash outflows from investing activities of P990.53 billion was utilized for the
following:
2016
2017
(in thousand pesos)
Purchase/Construction of Investment Property 344,479 800,457
Purchase/Construction of Property, Plant and Equipment 55,256,535 70,917,562
Purchase/Acquisition of Investments 799,299,696 752,072,278
Purchase of Bearer/Consumable Biological Assets 21,584 156,217
Purchase of Intangible Assets 237,234 335,377
Grant of Loans 132,960,966 143,021,106
Total Cash Outflows 988,120,495 967,302,997
Adjustments 2,405,359 13,508,215
Adjusted Cash Outflows 990,525,854 980,811,212
Of the total cash outflows for the purchase/acquisition of investments of P799.30

billion or 80.69 percent of the total adjusted cash outflows from investing activities,
P165.20 billion or 20.67 percent was recognized by LBP for the investment in
stocks/bonds/marketable securities.
Of the Grant of Loans of P132.96 billion, GSIS reported P132.40 billion or 99.58
percent.
71
63. CASH INFLOWS FROM FINANCING ACTIVITIES
This is composed of the following:
2016
2017
(in thousand pesos)
Proceeds from Incurrence of Financial Liabilities 907,305,920 954,431,958
Proceeds from Issuance of Bonds and Acceptances Payable 201,735 464,199
Proceeds from Domestic and Foreign Loans 189,430,245 179,644,249
Equity/Contribution from National Government 45,476,745 73,612,381
Proceeds from Issuance of Capital Stock and other
Equity Securities 3,475,890 11,907,444
Total Cash Inflows 1,145,890,534 1,220,060,231
Adjustments 145,266 3,813,581
Adjusted Cash Inflows 1,146,035,800 1,223,873,812
Of the Proceeds from Incurrence of Financial Liabilities, P907.30 billion or almost

100 percent was reported by BSP for the proceeds from issuance of currency, while of
the Proceeds from Domestic and Foreign Loans of P189.43 billion, recognized in the
books of accounts of DBP, was P142.50 billion or 75.22 percent, of which P135.53
billion was from proceeds from foreign loans.
64. CASH OUTFLOWS FROM FINANCING ACTIVITIES
Cash outflows from financing activities of P1.106 trillion is composed of the

following:
2016
2017
(in thousand pesos)
Payment of Long-Term Liabilities 1,007,413,801 1,080,945,976
Redemption of Bonds Issued and Unsecured Subordinated
Debt/Payment of Acceptances Payable 21,524,005 38,959,418
Payment for Reacquisition of Capital Stock and Other
Equity Securities 11,175,723 17,907,575
Payment of Interest on Loans and Other Financial Charges 24,941,412 27,936,630
Payment of Cash Dividends/Share of NG to GOCCs Income 26,308,794 27,558,723
Total Cash Outflows 1,091,363,734 1,193,308,322
Adjustments 14,806,531 8,048,758
Adjusted Cash Outflows 1,106,170,266 1,201,357,081
Payment of Long-Term Liabilities of P1.007 trillion represents 91.07 percent of the

total adjusted cash outflows from financing activities. Of this amount, P764.01 billion
or 75.84 percent pertained to the payment of other long-term liabilities of BSP, while
P133.84 billion or 13.74 percent pertaining to payment of foreign loans was
recognized by DBP.
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65. EFFECTS OF EXCHANGE RATE CHANGES ON CASH
AND CASH EQUIVALENTS
The net Gain on Foreign Exchange of P25.13 billion resulted from the conversion of
foreign currencies to local currency during the year, thereby increasing the balance of
cash and cash equivalents. Among 41 GCs which reported gains, BSP had highest
amount of P27.80 billion or 99.62 percent of total gains of P27.91 billion. On the
other hand, DBP and LBP incurred losses of P2.12 billion or 76.24 percent and
P574.05 million or 20.64 percent, respectively.
66. CASH AND CASH EQUIVALENTS, December 31
The ending balances of Cash and Cash Equivalents for CYs 2017 and 2016 shown in
the SCF differed from the balances reported in the SFPos. The details are shown
below:
2016
2017
(in thousand pesos)
Balance per SFPos 867,494,642 811,009,251
Balance per SCF 1,455,325,594 1,236,945,299
Difference (587,830,952) (425,936,048)
The differences pertained to the BSP’s gross international reserves reduced by the
demand liabilities consisting of government demand deposits and deposits of banks
and other financial institutions, except non-international reserves foreign currency on
hand amounting to P32.47 million and P34.55 million for CYs 2017 and 2016,
respectively, which were recognized as foreign currency on hand. This is consistent
with the presentation of the accounts in the SFPos and SCF of the BSP.
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PART III
SCHEDULES
AND
ANNEXES
Schedule 1
Aging of Accounts Receivable
(in thousand pesos)
Amount Due
Current Past Due
Amount
No. Name of Government Corporations Remarks
Balance 31-120 91 days to 1 211-365 Over 365 Over 1 year Over 2 years Over 3 years
1 to 90 days
days year days days to 2 years to 3 years and onwards
Cluster 1 - Banking and Credit
1 Al Amanah Islamic Investment Bank of the
Philippines 4,378 345 - 12 - - 6 2 4,013
2 Bangko Sentral ng Pilipinas 15,809,690 394,321 - 3,329,669 - - 2,657,743 93,880 9,334,076
3 Credit Information Corporation 5,371 5,357 - 0 - - 12 1
4 Development Bank of the Philippines 7,039,817 6,604,449 - 188,261 - - 87,657 84,823 74,626
5 DBP Data Center, Inc. 117,197 59,769 - 44,116 - - 179 - 13,133
6 DBP Leasing Corporation 11,799 3,602 - - - - 37 1,867 6,292
7 Land Bank of the Philippines 1,012,108 261,160 - 266,469 - - 73,391 150,472 260,616
74
8 LandBank Countryside Development

Foundation, Inc. 22,289 21,778 - - - - 48 - 463
9 LandBank Insurance and Brokerage, Inc. 109,620 51,097 - 15,300 - 790 5,350 37,084
10 LBP Leasing and Finance Corporation 5,256 3,278 - 348 - - 60 1,067 504
11 LBP Resources and Development 127,893 77,452 - 49,786 - - - - 654
12 Corporation
Masaganang Sakahan , Inc. 58,151 31,367 - 13,817 - - 3,790 4,643 4,534
13 National Livelihood Development
Corporation 62,643 10,814 - - - - - - 51,829
14 Northern Foods Corporation 30,829 23,081 - 1,458 - - 306 439 5,545 FY ending May 31,
2017
15 Philippine Deposit Insurance Corporation 3,349 2,256 - 15 - - 8 913 159
16 Philippine International Convention Center 345,116 263,506 - 51,707 - - 6,762 1,698 21,443
17 Philippine Postal Savings Bank, Inc. 56,893 30,373 - 5,595 - - 652 3,777 16,497
Cluster 2 - Social Security Services and Housing

1 AFP Retirement and Separation Benefits
System 715,960 - - - - - - - 715,960
2 Employees Compensation Commission 13,928 13,928 - - - - - - -
3 Government Service Insurance System 1,622,617 268,544 - 57,875 - - 576,372 52,684 667,141
Schedule 1
Amount Due
Amount
No. Name of Government Corporations
Balance
Current Past Due Remarks
31-120 91 days to 1 211-365 Over 365 Over 1 year to Over 2 years Over 3 years
1 to 90 days
days year days days 2 years to 3 years and onwards
4 Home Development Mutual Fund 440,261,309 364,378,064 - 36,628,431 - - 11,467,255 4,291,040 23,496,519
5 Home Guaranty Corporation 1,081,653 283,458 - 70,551 - - 727,644 - -
6 National Home Mortgage Finance
Corporation 3,323 - - - - - - 3,323
7 National Housing Authority 51,802,149 370,722 - 1,974,167 - - 47,504,104 224,679 1,728,477
8 Occupational Safety & Health Center 7,745 677 - 896 - - 4,318 1,441 413
9 Palacio del Gobernador Condomium 8,563 6,621 - 1,254 - - 186 137 366
Corporation
10 Small Business Guarantee and Finance 16,845 1,845 - 1,033 - - 215 14 13,737
Corporation
11 Social Housing Finance Corporation 10,537,382 2,914,434 - 1,092,356 - - 896,153 690,837 4,943,601
12 Social Security System 4,566,519 6,873,955 - (697,709) - - (1,398,866) (334,374) 123,514
13 Southern Utility Management and Services 4,751 3,076 - 1,301 - - - - 374
Inc.
75
14 Trade and Investment Development 11,938 - - 1,026 - - 3,027 - 7,885

Corporation of the Phils.
Cluster 3 - Public Utilities

1 APO Production Unit 335,763 316,902 - 11,451 - - 4,210 1,381 1,819
2 Light Rail Transit Authority 2,838,382 - - 7,537 - - - 19,087 2,811,759
3 Local Water Utilities Administration 60,701 - - - - - - - 60,701
4 Metropolitan Waterworks and Sewerage 555,406 393,107 - 2,250 - - - 36
System 160,013
5 National Electrification Administration 2,591,126 19,727 - 78,184 - - 17,959 (76,309) 2,551,565
6 National Power Corporation 6,034,010 379,674 - 512,149 - - 428,347 1,305,269 3,408,571
7 National Transmission Corporation 833,499 7,425 - - - - - - 826,074
8 PNOC Alternative Fuels Corporation 185,193 22,013 - 4,183 - - 744 3 158,251
9 PNOC Exploration Corporation 928,265 635,678 - 13,912 - - 2,515 29,102 247,059
10 PNOC Renewables Corporation 55,995 3,723 - 316 - - - - 51,956
11 Philippine National Railways 441,139 213 - 528 - - 798 585 439,015
12 Philippine Ports Authority 1,991,768 1,654,639 - 6,314 - - - - 330,815
Schedule 1
Amount Due
Amount Current Past Due
Balance
Remarks
1 to 90 days
13 Philippine Postal Corporation 1,694,049 166,738 - 206,401 - - 289,334 383,678 647,898 The difference pertains to
the Allowance for
Impairment amounting
P182,888,298.61. The
amount presented in the
Notes to FS is net of
Allowance of Impairment
14 Power Sector Assets and Liabilities 76,501,523 3,650,131 - 13,493,237 - - 1,005,876 1,088,136 57,264,143
Management Corporation
15 PNOC Shipping and Transport Corporation 3,907 - - - - - - - 3,907
16 Cebu Port Authority 22,572 12,600 675 - 6 9,291 - - - No aging report for the
amount of
P38,945,352.30
17 Panay Railways, Inc. 28,080 - - - - - - - - No Aging Report
76
Cluster 4 - Industrial and Area Development

1 Aurora Pacific Economic Zone and Freeport 647
Authority 186 12 13 2 433
2 Authority of the Freeport of Bataan 128,603 98,225 - 19,077 - 11,301 - - -
3 Bases Conversion Development Authority 4,428 1,992 - 0 - - 79 1,185 1,171
(BCDA)
4 BCDA Management and Holdings Inc. 17 - - - - - 0 17 0
5 Clark International Airport Corporation 110 15 - 16 - - 17 9 52
6 John Hay Management Corporation 5 0 - 0 - - 0 - 5
7 North Luzon Railways Corporation 109 17 - - - - 38 - 54
8 Poro Point Managemnt Corporation 1 (1) - 1 - - - - 2
9 Cagayan Economic Zone Authority 13 13 - - - - - - 0
10 Civil Aviation Authority of the Philippines 3,063,392 1,205,222 - 387,792 - - (44,184) (28,370) 1,542,933
11 Laguna Lake Development Authority 101 1 - - - - - 10 89
12 Manila International Airport Authority 2,823 1,041 - 118 - - 120 102 1,441
13 National Development Company 390 20 - 6 - - 13 9 341
14 Batangas Land Company, Inc. 0 0 - - - - - - -
15 First Cavite Industrial Estate Inc. 1 - - - - - - - 1
16 GY Realty Estate, Inc. 1 1 - - - - - - 0
Schedule 1
Amount Due
Balance
Remarks
1 to 90 days
17 Inter-island Gas Service, Inc. 19 - - - - - - - 19
18 Manila Gas Corporation 0 0 - - - - - - 0
19 Pinagkaisa Realty Corporation 1 1 - - - - - - -
20 Partido Development Administration 29 7 - 4 - - 2 1 14
21 Philippine Economic Zone Authority 558 141 - 65 - - 54 37 261
22 Philippine National Construction 446 129 - 42 - - 2 1 272
Corporation
23 Alabang Sto. Tomas Development, Inc. 5 0 - - - - - 1 4
24 CDCP Farms Corporation 10 0 - 0 - - - - 10
25 Disc Contractors Builders and General 83 - - 0 - - 3 6 73
Services, Inc.
26 Philippine Reclamation Authority 175 0 - 0 - - - - 174
27 PHIVIDEC Industrial Authority 929 156 - 165 - - 62 106 440
Southern Philippines Development Authority 12,909
77
28 12,909
29 Subic Bay Metropolitan Authority 4,684 169 - 237 - - 220 207 3,851
30 Tourism Infrastructure and Enterprise Zone 269,937 202,592 - 7,533 - - 6,098 2,340 51,374
Authority
31 Corregidor Foundation, Inc. 4,751 3,564 - 1,187 - - - - -
32 Zamboanga City Special Economic Zone
Authority 42,215 5,802 - 13,809 - - 11,207 7,689 3,707
Cluster 5 - Agricultural and Natural Resources

1 National Food Authority 689,549 2,809 - 53,918 - - 2,117 1,145 629,561
2 Food Terminal, Inc. 27,266 24,959 - 2,300 - - 7 - -
3 Philippine Fisheries Development Authority 112,426 20,584 - 13,147 - - 11,003 12,329 55,363
4 National Dairy Authority 872,129 599,748 - 58,263 - - 57,453 3,313 153,351
5 National Tobacco Administration 22,032 - - 11,009 - - 465 780 9,778
6 Quedan and Rural Credit Guarantee
Corporation* 7,136,434 14,446 - 625 - 65,177 65,300 334,084 6,656,803
7 Philippine Rice Research Institute 70,102 1,505 - 5,010 - - 596 1,661 61,329
Schedule 1
Amount Due
Balance
Remarks
1 to 90 days
Cluster 6 - Social, Cultural, Trading, Promotional and Other Services
1 Boy Scouts of the Philippines 83,762 24,699 26,846 - - - 2,496 3,524 26,197
2 Center for International Trade Expositions
and Missions 23,914 - 21,326 - - - - - 2,588
3 Cultural Center of the Philippines 932,652 599,300 1,788 - - - 239,947 5,637 85,980
4 Development Academy of the Philippines 243,626 110,455 22,172 - - - 20,178 9,334 81,487
5 Duty Free Philippines Corporation 600,678 126,101 1,241 - - - 336 - 472,999
6 Intercontinental Broadcasting Corporation 279,345 (7,451) 23,984 - - - (3,791) (5,556) 272,159
7 Lung Center of the Philippines 402,994 25,947 53,626 - - - 11,280 20,408 291,733
8 National Kidney and Transplant Institute 961,253 165,362 120,353 - - - 80,569 129,917 465,052
9 Philippine Amusement and Gaming
Corporation 3,769,651 3,091,081 188,565 - - - 25,379 452 464,175
10 Philippine Center for Economic
Development 20,308 - 812 - - - - 19,496 -
78
11 Philippine Charity Sweepstakes Office 1,330,401 272,196 11,389 - - - 3,089 11,249 1,032,479
12 Philippine Children's Medical Center 149,324 100,520 13,325 - - - 4,175 2,615 28,689
13 Philippine Health Insurance Corporation 2,494,203 492,697 201,716 - - - 77,389 123,029 1,599,373
14 Philippine Heart Center 625,570 148,796 36,680 - - - 38,364 26,956 374,774
15 Philippine Institute of Traditional and 13,916 - 0 - - - 13,260 - 655
Alternative Health Care
16 Philippine International Trading Corporation 232,830 55,857 77,227 - - - 259 645 98,843
17 Philippine Pharma Procurement, Inc. 45,455 9,101 1,988 - - - - - 34,366
18 Philippine Retirement Authority 36,178 - - - - - 698 344 35,136
19 Veterans Federation of the Philippines 44,834 2,994 954 - - - - 40,886 -
Total 655,336,679 397,622,903 804,668 58,008,528 6 85,782 64,985,926 8,751,961 125,048,825

Schedule 2
Aging of Unliquidated Cash Advances for Operating Expenses
(in thousand pesos)
Amount Due
Current Past Due
Amount
No. Name of Government Corporations Over 3 Remarks
Balance 91 days to Over 1 year Over 2 years
1 to 90 days years and
1 year to 2 years to 3 years
onwards
1 Bangko Sentral ng Pilipinas 66,641 8,835 3,096 150 8 54,552
2 DBP Data Center, Inc. 30 30 - - - -
3 Land Bank of the Philippines (LBP) 13,631 11,063 2,567 - - -
4 LandBank Countryside Development Foundation, 38 38 - - - -
Inc.
5 LBP Leasing and Finance Corporation 433 343 89 - - -
6 LBP Resources and Development Corporation 436 436 - - - -
79

1 AFP Retirement and Separation Benefits System 343 343 - - - -
2 National Housing Authority 55,915 - 55,915 - - -
3 Social Security System 224 224 - - - -
4 Trade and Investment Development Corporation of 0 - - - - 0 Written-Off
the Phils.

1 Local Water Utilities Administration 237 237 - - - -
2 PNOC Alternative Fuels Corporation 0 0 - - - -

1 National Development Company 72 72 - - - -
2 Philippine National Construction Corporation 229 159 16 53 - -
3 PHIVIDEC Industrial Authority 135 10 - - 125
Schedule 2
Amount Due
Current Past Due
Amount
No. Name of Government Corporations Over 3 Remarks
Balance 91 days toOver 1 year Over 2 years
1 to 90 days years and
1 year to 2 years to 3 years
onwards
4 Tourism Infrastructure and Enterprise Zone Authority 1,278 978 300 - - -
5 Zamboanga City Special Economic Zone Authority 85 55 30 -

1 Philippine Coconut Authority 93 12 59 - - 22
2 National Dairy Authority 535 535 - - - -
3 National Tobacco Administration 32 - 32 - - -
4 Natural Resources Development Corporation 45 5 40 - - -
5 Quedan and Rural Credit Guarantee Corporation 93 54 10 - - 20 The P10,000 difference was
erroneously credited to the
account but is already liquidated

80
1 Cultural Center of the Philippines 489 417 - - - 72

2 People's Television Network, Inc. 30 30 - - - -
3 Philippine Children's Medical Center 694 185 509 - - -
4 Philippine Health Insurance Corporation 3,013 - - - - 3,013
5 Philippine Institute of Traditional and Alternative
7
Health Care 7 - - - -
Total 144,759 24,014 62,690 204 38 57,804

Schedule 3
Aging of Unliquidated Cash Advances for Payroll
(in thousand pesos)
Amount Due
Balance 91 days to 1 Over 1 year Over 2 years Over 3 years
1 to 90 days
year to 2 years to 3 years and onwards
1 Philippine Postal Corporation 40,510 37 3,677 - 579 36,217

1 Laguna Lake Development Authority 17 17 - - - -
2 Manila International Airport Authority 3 3 - - - -
3 Philippine Economic Zone Authority 283 283 - - - -
4 Southern Philippines Development Authority 178 150 29 - -
81
5 Zamboanga City Special Economic Zone Authority 638 23 - - 84 532 Liquidated as of June 2018.

1 National Food Authority 12 12 - - - -
2 National Tobacco Administration 1 1 - - - -
3 Quedan and Rural Credit Guarantee Corporation 291 - - - - 291

1 Development Academy of the Philippines 1,463 1,463 - - - -
2 Philippine Amusement and Gaming Corporation 109 109 - - - -
Total 43,506 1,947 3,827 29 663 37,040

Schedule 4
Aging of Unliquidated Cash Advances to Special Disbursing Officers
(in thousand pesos)
Amount Due
Balance 91 days to 1 Over 1 year Over 2 Over 3 years
1 to 90 days
year to 2 years years to 3 and onwards
1 Bangko Sentral ng Pilipinas 1,773 500 892 7 14 359

1 Government Service Insurance System 1,723 1,723 - - - -
2 National Home Mortgage Finance Corporation 1,914 1,914 - - - - Liquidated on Jan. 31, 2018
3 National Housing Authority 2,766 1,027 1,739 - - -
4 Occupational Safety & Health Center 138 - 138 - - -
82
5 Social Housing Finance Corporation 3,517 3,517 - - -

6 Social Security System 883 3 827 22 32 -

1 Local Water Utilities Administration 3,912 2,283 1,629 - - -
2 Metropolitan Waterworks and Sewerage System 577 289 - - - 288
3 National Electrification Administration 10 10 - - - -
4 National Power Corporation 13,980 8,688 4,704 234 80 274
5 Philippine National Oil Company 13 13 - - - -
6 Philippine National Railways 644 - 132 - - 512
7 Philippine Ports Authority 2,114 2,114 - - - -
8 Philippine Postal Corporation 170,067 561 164,625 1,318 7 3,556
Cluster 4 -Industrial and Area Development

1 Laguna Lake Development Authority 1 1 0 - -
2 Philippine Economic Zone Authority 95 - 95 - - -
3 Philippine Reclamation Authority 121 100 21 - - -
4 PHIVIDEC Industrial Authority 43 8 - - - 35
Schedule 4
Amount Due
Balance 91 days to 1 Over 1 year Over 2 Over 3 years
1 to 90 days
year to 2 years years to 3 and onwards
5 Subic Bay Metropolitan Authority 22 22 - - - -
6 Civil Aviation Authority of the Philippines 743 743 - - - -
7 Subic-Clark Alliance for Development 94 94 - - - -
8 Bases Conversion Development Authority 662 662 - - - -
9 Zamboanga City Special Economic Zone Authority 40 - - - - 40

1 National Food Authority 1,115 912 121 30 52 -
2 Food Terminal, Inc. 392 392 - - - -
3 Philippine Coconut Authority 2,379 2,379 - - - -
4 Sugar Regulatory Administration 1,125 1,068 56 - - -
5 Philippine Fisheries Development Authority 125 125 - - - -
6 National Tobacco Administration 1,659 - - - - 1,659
7 Human Settlements Development Corporation 350 - - - - 350
83
8 Philippine Mining Development Corporation 2 2 - - - -

9 Natural Resources Development Corporation 4,640 351 351 39 31 3,868
10 Quedan and Rural Credit Guarantee Corporation (16) - - - - - Liquidated but not yet adjusted

1 Philippine Children's Medical Center 151 - 151 - - -
2 Philippine Heart Center 8 8 - - - -
3 Boy Scouts of the Philippines 115 73 (0) - (0) 42
4 Philippine Retirement Authority 90 90 - - - -
5 Center for International Trade Expositions and
Missions 9 - 8 - - 1
6 Tourism Promotions Board 3,059 2,738 189 133 - -
7 Philippine Health Insurance Corporation 650 648 1 - - -
8 Cultural Center of the Philippines 220 - 220 - - -
9 Development Academy of the Philippines 18 18 - - - -
Health Care 8 8 - - - -
Total 221,951 33,083 175,900 1,783 216 10,985
Schedule 5
Aging of Unliquidated Cash Advances to Officers and Employees
(in thousand pesos)
Amount Due
Balance 91 days to Over 1 Over 2 Over 3
1 to 90 days
1 year year to 2 years to 3 years and

1 Al Amanah Islamic Investment Bank of the
Philippines 219 219 - - - -
2 Bangko Sentral ng Pilipinas 1,994 1,680 305 - - 10
3 Credit Information Corporation 53 53 - - - -
4 DBP Data Center, Inc. 106 23 83 - - -
84
5 DBP Leasing Corporation 69 - - - - 69

6 Land Bank of the Philippines (LBP) 2,057 634 555 439 217 210
7 LandBank Countryside Development
Foundation, Inc. 38 38 - - - -
8 Northern Foods Corporation 7 7 - - - -
9 Philippine Deposit Insurance Corporation 1,425 221 182 3 1,019
10 Philippine International Convention Center 1 1 - - - -
11 Philippine Postal Savings Bank, Inc. 109 109 - - - -

1 Home Development Mutual Fund 1 1 - - - -
2 National Housing Authority 1,543 1,469 74 - - -
3 Occupational Safety & Health Center 669 515 153 - - -
4 Social Housing Finance Corporation 417 417 - - - -
5 Social Security System 432 432 - - - - Liquidated January 11, 2018
Schedule 5
Amount Due
1 to 90 days

1 APO Production Unit 1,029 5 - - - 1,025
2 Local Water Utilities Administration 652 623 29 - - -
3 Metropolitan Waterworks and Sewerage System 929 837 29 - - 63
5 National Electrification Administration 3,583 2 - - 3,243 322 Difference of P15,473.71
pertains to CAN
6 National Power Corporation 57 25 - - - 32
7 National Transmission Corporation 362 - - - - 362
8 PNOC Exploration Corporation 551 551 - - - -
9 PNOC Renewables Corporation 219 208 9 - 3 -
10 Philippine Ports Authority 1,083 1,062 21 - - -
11 Philippine Postal Corporation 1,971 364 227 43 13 1,324
85
12 Power Sector Assets and Liabilities Management

Corporation 3,581 3,581 - - - -
13 Cebu Port Authority 10 10 - - - -

1 Aurora Pacific Economic Zone and Freeport
Authority 13,947 498 13,449
2 Bases Conversion and Development Authority 602 408 194 - - -
3 Cagayan Economic Zone Authority 449 235 - - - 215
4 Civil Aviation Authority of the Philippines 48,934 6,478 4,356 594 957 36,548
5 Clark Development Corporation 2,360 1,353 1,007
6 Manila International Airport Authority 31 31 - - - -
7 Philippine Aerospace Development Corporation 1,982 - - - - 1,982
8 Philippine Economic Zone Authority 1,335 825 456 46 8 -
9 Philippine National Construction Corporation 42,510 - - - - 42,510
10 Philippine Reclamation Authority 44 44 - - - -
11 PHIVIDEC Industrial Authority 148 19 142 - - (13)
Schedule 5
Amount Due
1 to 90 days
12 Southern Philippines Development Authority 3,494 - 169 - - 3,325

13 Zamboanga City Special Economic Zone Authority 1,568 441 1,030 - - 96
13 Subic Bay Metropolitan Authority 49 8 - - - 41
14 Disc Contractors Builders and General Services,
Inc. 3,982 - - - 3,913 68

1 National Food Authority 1,819 1,816 - - - 3
2 Food Terminal, Inc. 32 32 - - - -
3 Philippine Coconut Authority 1,063 811 45 14 - 193
4 Sugar Regulatory Administration 328 253 75 - - -
5 Philippine Fisheries Development Authority 47 47 - - - -
86
6 National Dairy Authority 18 - 18 - - -

7 National Tobacco Administration 505 410 80 - 15 -
8 Philippine Mining Development Corporation 206 135 - - - 71
9 Natural Resources Development Corporation 2,328 222 637 29 39 1,401
10 Quedan and Rural Credit Guarantee Corporation 869 60 - - 22 787

1 Boy Scouts of the Philippines 113 - - - - 113
2 Center for International Trade Expositions and
Missions 1,446 67 - - - 1,379
3 Cultural Center of the Philippines 249 242 - - - 8
4 Development Academy of the Philippines 11 11 - - - -
5 Duty Free Philippines Corporation 342 342 - - - -
6 Philippine Amusement and Gaming Corporation 621 621 - - - -
7 Philippine Charity Sweepstakes Office 9,256 5,188 507 1,093 - 2,467
8 Philippine Children's Medical Center 23 22 1 - - -
Schedule 5
Amount Due
1 to 90 days
9 Philippine Heart Center 132 132 - - - -

Health Care 6 6 - - - -
11 Philippine International Trading Corporation 30 - - - - 30
12 Philippine Retirement Authority 1,458 537 - - - 921
13 Tourism Promotions Board 1,666 1,666 - - - -
14 Philippine Health Insurance Corporation 220 210 3 - - 8
15 Philippine Pharma Procurement, Inc. 6 - - - - 6
16 Veterans Federation of the Philippines 3,423 3,006 262 4 9 143
Total 170,814 38,763 9,640 2,263 8,939 111,194

87
Schedule 6
Aging of Accounts Payable
(in thousand pesos)
Amount Due
1 to 90 days
1 Al Amanah Islamic Investment Bank of the Philippines 1,171 242 360 127 400 43
2 Bangko Sentral ng Pilipinas 4,109,033 1,278,626 578,242 198,382 83,244 1,970,539
3 Central Bank - Board of Liquidators 35 - - - 35 -
4 Credit Information Corporation 18,434 18,434
5 Development Bank of the Philippines 7,794,920 7,527,854 94,352 10,232 11,971 150,511
6 DBP Data Center, Inc. 55,610 25,717 21,383 - - 8,510
7 DBP Leasing Corporation 3,415 2,158 746 58 173 281
8 Land Bank of the Philippines 21,222,085 18,770,526 1,149,310 381,662 263,731 656,856
9 LandBank Countryside Development Foundation, Inc. 1,919 1,474 13 - - 432
88
10 LandBank Insurance and Brokerage, Inc. 29,430 19,471 5,175 2,228 1,984 573
11 LBP Leasing and Finance Corporation 1,753 254 - 1,499 - -
12 LBP Resources and Development Corporation 10,466 5,960 4,506
13 Masaganang Sakahan , Inc. 53,393 51,710 - - 25 1,658
14 National Livelihood Development Corporation 2,028 1,958 70
15 Northern Foods Corporation 60,923 60,840 - 0 - 82
16 Philippine Deposit Insurance Corporation 39,119 31,755 5,388 1,962 - 15
17 Philippine International Convention Center 104,608 70,991 28,112 1,204 113 4,187
18 Philippine Postal Savings Bank, Inc. 74,029 49,032 6,031 2,680 3,614 12,673

1 AFP Retirement and Separation Benefits System 458,847 - - - - 458,847
2 Employees Compensation Commission 19,396 16,095 - 922 1,266 1,114
3 Government Service Insurance System 3,153,029 904,458 1,185,289 220,964 49,014 793,305
4 Home Development Mutual Fund 32,456,508 6,584,294 3,182,774 3,141,127 2,397,254 6,370,145 Difference of
P10,780,914,189.59 is due to an
on going generation of Aging
5 Home Guaranty Corporation 5,314,685 341,419 189,582 150,988 201,332 4,431,365 Report for ISSP
Schedule 6
Amount Due
1 to 90 days
6 National Home Mortgage Finance Corporation 262,828 46,132 29,615 19,905 10,322 156,854
7 National Housing Authority 192,433 185,623 - 6,811 - -
8 Occupational Safety & Health Center 27,991 27,991 - - -
9 Palacio del Gobernador Condomium Corporation 4,410 3,951 - 225 0 235
10 Small Business Guarantee and Finance Corporation 21,405 837 1,774 318 1,322 17,154
11 Social Housing Finance Corporation 1,122,523 99,702 1,022,821
12 Social Security System 5,499,995 115,002 780,018 - 4,076,039 528,937
13 Trade and Investment Development Corporation of the 500,078 40,090 85,200 251,747 91,378 31,663
Phils.

1 APO Production Unit 264,239 245,556 707 7,557 8,486 1,933
2 Light Rail Transit Authority 290,848 37,543 - - - 253,305
3 Local Water Utilities Administration 26,535 26,461 74 - - -
4 Metropolitan Waterworks and Sewerage System 565,996 23,486 54 8,653 - 533,803
89
5 National Electrification Administration 3,502,782 96,578 49,774 65,544 41,137 3,249,749

6 National Power Corporation 5,223,964 3,887,368 270,866 249,384 287,540 528,806
7 National Transmission Corporation 871,320 649,189 3,428 71,752 637 146,314
8 PNOC Alternative Fuels Corporation 13,190 9,741 2 2,210 321 916
9 PNOC Development & Management Corporation 58 - - 58 - -
10 Philippine National Oil Company 2,503 2,503 - - - -
11 PNOC Exploration Corporation 229,807 229,807 - - - -
12 PNOC Renewables Corporation 26,390 25,323 83 113 2,864 (1,993)
13 Philippine National Railways 235,788 54,987 47,742 21,164 121 111,774
14 Philippine Ports Authority 3,106,211 2,334,858 272,570 56,804 151,834 290,145
15 Philippine Postal Corporation 828,504 87,177 112,279 156,066 295,529 177,454
16 Power Sector Assets and Liabilities Management
Corporation 10,289,476 4,732,009 3,209,914 1,120,415 368,179 858,960
17 PNOC Shipping and Transport Corporation 66,123 - - - - 66,123
18 Panay Railways Inc. 0 - - - - 0
19 Cebu Port Authority 48,608 34,648 13,870 90 - -
Schedule 6
Amount Due
1 to 90 days
1 Aurora Pacific Economic Zone and Freeport Authority 6,300 1,548 214 7 (26) 4,557
2 Authority of the Freeport Area of Bataan 76,934 76,917 18 - - -
3 Bases Conversion and Development Authority 1,558,262 35,389 8,628 3,424 1,462,287 48,534
4 BCDA Management and Holdings, Inc. 887 375 - - 79 433
5 Clark International Airport Corporation 154,063 114,888 30,930 2,214 6,031 -
6 John Hay Management Corporation 30,133 21,463 - 4,190 2,211 2,269
7 Poro Point Management Corporation 6,467 6,019 133 312 3 -
8 Cagayan Economic Zone Authority 1,989 1,569 - - 7 414
9 Laguna Lake Development Authority 111,615 84,742 7,038 10,416 9,417 1
10 Manila International Airport Authority 723,758 495,917 131,842 2,341 73,255 20,403
11 National Development Company 175,644 12,043 1,626 2,053 1,678 158,245
12 Batangas Land Company, Inc. 485 485 - - - -
13 First Cavite Industrial Estate Inc. 26 10 16 - - -
14 GY Realty Estate, Inc. 406 406 - - - -
90
15 Kamayan Realty Corporation 95 95 - - - -

16 NDC-Philippine Infrastructure Corporation 4 4 - - - -
17 Pinagkaisa Realty Corporation 28 27 - 0 0 1
18 Manila Gas Corporation 548 - - - - 548
19 Partido Development Administration 11,880 11,856 - 2 20 2
20 Philippine Economic Zone Authority 240,115 192,362 10,928 11,514 4,506 20,806
21 Philippine National Construction Corporation 21,012 20,228 83 702 - -
22 CDCP Farms Corporation 33,549 - - - - 33,549
23 DISC Contractors Builders and General Services, Inc. 182 - - - 115 67
24 Philippine Reclamation Authority 1,348,630 68,760 - - - 1,279,869
25 PHIVIDEC Industrial Authority 194,598 83,228 104,105 1,413 985 4,867
26 Southern Philippines Development Authority 5,674 - - - - 5,674
27 Subic Bay Metropolitan Authority 34,165 34,165 - - - -
28 Tourism Infrastructure and Enterprise Zone Authority 104,540 79,178 405 13,964 7,770 3,224
29 Corregidor Foundation, Inc. 1,311 556 12 - - 744
30 Zamboanga City Special Economic Zone Authority 4,435 1,916 101 1,191 391 837
Schedule 6
Amount Due
1 to 90 days
1 National Food Authority 2,849,259 2,085,039 652,372 12,977 135 98,737
2 Food Terminal, Inc. 13,367 5,899 4,599 - 2,180 689
3 Philippine Fisheries Development Authority 59,034 41,034 5,944 1,133 8,024 2,898
4 National Dairy Authority 71,711 30,264 509 36,586 2 4,350
5 National Tobacco Administration 51,434 49,121 - - 798 1,515
6 Human Settlements Development Corporation 2,708 1,680 - - - 1,029
7 Philippine Mining Development Corporation 241 225 - - 16 -
8 Natural Resources Development Corporation 38,510 - 4,096 1,411 1,133 31,871
9 Philippine Crop Insurance Corporation 3,138,593 - 2,925,173 - 9,257 204,163
10 Quedan and Rural Credit Guarantee Corporation 4,746,629 - - - 123,922 4,622,706
11 Philippine Rice Research Institute 169,133 94,384 7,583 - 3,941 63,226
1 Boy Scouts of the Philippines 34,996 18,419 0 4,694 344 11,539
2 Center for International Trade Expositions and 103,352 31,145 53,686 - - 18,521
91
3 Cultural Center of the Philippines 134,128 5,145 67,435 46,215 5,322 10,011
4 Duty Free Philippines Corporation 1,856,928 1,839,658 11,608 141 106 5,414
5 Lung Center of the Philippines 83,650 68,801 2,738 7,481 1,956 2,675
6 National Kidney and Transplant Institute 922,488 415,119 384,498 64,574 39,561 18,735
7 Philippine Amusement and Gaming Corporation 1,460,538 1,288,722 67,083 62,979 5,585 36,169
8 Philippine Center for Economic Development 3,509 1,861 - - 1,649 -
9 Philippine Charity Sweepstakes Office 9,070,510 5,221,264 591,376 2,281,300 156,680 819,889
10 Philippine Children's Medical Center 608,522 126,060 13,506 5,101 434,937 28,918
11 Philippine Health Insurance Corporation 38,854,556 21,718,054 10,681,572 2,282,503 1,246,351 2,926,077
12 Philippine Heart Center 925,382 625,077 241,049 28,183 13,492 17,582
13 Philippine Institute for Development Studies 667 667 - - - -
Health Care 28,319 24,299 10 367 70 3,574
15 Philippine International Trading Corporation 19,801,414 5,601,943 5,574,715 6,601,506 1,417,820 605,430
16 Philippine Pharma Procurement, Inc. 45,876 26,113 9,023 5,284 1,769 3,686
17 Philippine Retirement Authority 92,475 86,180 2 2,235 2,029 2,029
18 Tourism Promotions Board 444,205 234,605 - (175,953) 384,094 1,458
19 Veterans Federation of the Philippines 872 - - - - 872
Total 198,669,583 89,744,748 33,942,199 17,479,816 13,779,764 32,942,141
Schedule 7
Summary of Property, Plant and Equipment
TOTAL
(in thousand pesos)
Property, Plant and Equipment Accumulated Accumulated
Cost Depreciation Adjustment/s Carrying Amount
Impairment Losses
PROPERTY, PLANT AND EQUIPMENT 1,461,704,475 492,673,629 2,387,084 2,631,175 969,274,938 *
Land 259,687,502 68,524 - (505,350) 259,113,628
Land 259,687,502 68,524 - (505,350) 259,113,628
Land Improvements 53,488,553 26,313,350 22,220 184,217 27,337,200
Land Improvements, Aquaculture Structures 10,823 6,331 - - 4,491
Land Improvements, Reforestation Projects 116,073 102,967 - - 13,106
Other Land Improvements 53,361,657 26,204,051 22,220 184,217 27,319,603
Infrastructure Assets 344,782,872 170,120,692 1,565,576 3,313,584 176,410,189
Road Networks 2,401,130 1,210,188 1,565,576 1,565,576 1,190,942
Flood Control Systems 140,831 38,189 - - 102,642
Sewer Systems 535,718 384,470 - - 151,248
Water Supply Systems 77,116,604 1,786,159 - 1,811,903 77,142,347
Power Supply Systems 118,103,328 103,752,196 - 53 14,351,185
92
Communication Networks 984 12 - - 972

Seaport Systems 10,612,439 3,491,088 - - 7,121,350
Airport Systems 51,066,794 25,910,675 - - 25,156,119
Railway Systems 27,446,942 5,999,687 - - 21,447,255
Parks, Plazas and Monuments 285,535 231,480 - - 54,056
Plant-Utility Plant in Service (UPIS) 14,657,403 8,803,592 - - 5,853,811
Other Infrastructure Assets 42,415,164 18,512,956 - (63,947) 23,838,261
Buildings and Other Structures 139,451,042 76,447,560 656,479 90,341 62,437,343
Buildings 64,648,755 29,652,687 656,479 99,263 34,438,852
Hospitals and Health Centers 322,320 164,018 - - 158,302
Hostels and Dormitories 313,401 253,162 - - 60,239
Water Plant, Structure and Improvements 40,152 21,909 - - 18,242
Other Structures 74,126,414 46,355,784 - (8,922) 27,761,708
Machinery and Equipment 79,735,224 47,174,581 133,327 (253,048) 32,174,269
Office Equipment 22,013,717 12,377,266 14,751 (51,870) 9,569,831
Information and Communication Technology Equipment 16,094,355 9,838,339 4,556 (245,290) 6,006,170
Agricultural and Forestry Equipment 857,783 125,272 - - 732,511
Airport Equipment 5,466,215 3,812,824 - - 1,653,391
Communication Equipment 2,630,738 1,363,031 - 31,791 1,299,498
*Total amount presented is not reconciled with the figure on the Statement of Financial Position
Schedule 7
TOTAL
(in thousand pesos)
Impairment Losses
Construction and Heavy Equipment 1,191,240 871,163 - (520) 319,557
Disaster Response and Rescue Equipment 734,101 429,420 - - 304,681
Gaming Equipment 8,286,592 7,211,192 - - 1,075,400
Military, Police and Security Equipment 213,868 141,093 - (8) 72,767
Medical Equipment 3,462,456 1,757,388 - (488) 1,704,579
Printing Equipment 66,561 45,328 - - 21,233
Sports Equipment 26,557 18,356 - 191 8,392
Technical and Scientific Equipment 4,607,969 2,745,383 106,169 (859) 1,755,557
Kitchen Equipment 3,523 1,316 - - 2,206
Electrical Equipment 692 321 - (43) 329
Other Machinery and Equipment 14,078,857 6,436,889 7,851 14,049 7,648,166
Transportation Equipment 18,443,979 11,083,950 5,218 (916) 7,353,895
93
Motor Vehicles 7,133,711 4,503,453 5,218 (890) 2,624,149

Trains 9,960,046 5,493,218 - - 4,466,827
Aircrafts and Aircrafts Ground Equipment 516,575 378,038 - - 138,537
Watercrafts 290,213 268,420 - - 21,793
Other Transportation Equipment 543,435 440,820 - (27) 102,588
Furniture, Fixtures and Books 8,594,228 4,679,657 2,580 (48,434) 3,863,556
Furniture and Fixtures 8,540,337 4,643,122 2,570 (48,440) 3,846,205
Books 53,891 36,535 11 6 17,351
Leased Assets 2,508,723 1,610,801 - 3,361 901,283
Leased Assets, Land 569,716 73,657 - 1,710 497,769
Leased Assets, Buildings and Other Structures 1,287,027 982,847 - 1,651 305,831
Leased Assets, Machinery and Equipment 208,389 206,777 - - 1,612
Leased Assets, Transportation Equipment 418,554 323,917 - - 94,637
Other Leased Assets 25,037 23,603 - - 1,434
Leased Assets Improvements 1,504,780 603,127 909 (20,701) 880,043
Other Leased Assets Improvements 1,504,780 603,127 909 (20,701) 880,043
Heritage Assets 712,641 - - (52) 712,589
Works of Arts and Archeological Specimens 712,529 - - - 712,529
Other Heritage Assets 112 - - (52) 60
Schedule 7
TOTAL
(in thousand pesos)
Property, Plant and Equipment
Accumulated Accumulated
Impairment Losses
Service Concession Assets 378,110,521 143,616,080 - - 234,494,441
Service Concession-Road Networks 37,436,895 6,261,823 - - 31,175,072
Service Concession-Sewer Systems 289,197 198,725 - - 90,472
Service Concession-Water Supply Systems 659,027 323,538 - - 335,489
Service Concession-Power Supply Systems 286,065,910 115,617,117 - - 170,448,793
Service Concession-Seaport Systems 9,154,822 4,763,084 - - 4,391,738
Service Concession-Railway Systems 19,355,919 9,013,563 - - 10,342,357
Service Concession-Buildings and Other Structures 3,385,944 1,816,565 - - 1,569,379
Service Concession-Machinery and Equipment 6,147,192 4,664,360 - - 1,482,832
Service Concession-Land 10,921,320 - - - 10,921,320
Other Service Concession Assets 4,694,294 957,305 - - 3,736,989
94
Exploration and Evaluation Assets 16,839,136 9,294,062 - - 7,545,073

Other Exploration and Evaluation Assets 16,839,136 9,294,062 - - 7,545,073
Other Property, Plant and Equipment 3,244,536 1,661,245 774 10,750 1,593,267
Work/Zoo Animals 1,248,771 596,456 - 33,967 686,283
Other Property, Plant and Equipment 1,995,764 1,064,789 774 (23,217) 906,985
Construction in Progress 154,600,739 - - (142,578) 154,458,161
Construction in Progress-Land Improvements 791,066 - - 21,861 812,927
Construction in Progress-Infrastructure Assets 147,541,098 - - (168,645) 147,372,452
Construction in Progress-Buildings and Other Structures 5,561,810 - - 8,439 5,570,250
Construction in Progress-Leased Assets Improvements 293,166 - - (4,232) 288,934
Construction in Progress-Furniture and Fixtures 64,831 - - - 64,831
Construction in Progress-Others 348,768 - - - 348,768
Schedule 7
(in thousand pesos)
Impairment Losses
PROPERTY, PLANT AND EQUIPMENT 59,209,693 24,222,419 38,140 (260,916) 34,688,218 *
Land 8,763,121 - - (31,135) 8,731,986
Land 8,763,121 - - (31,135) 8,731,986
Land Improvements 249,302 114,290 - - 135,012
Land Improvements, Aquaculture Structures - - - - -
Land Improvements, Reforestation Projects - - - - -
Other Land Improvements 249,302 114,290 - - 135,012
Infrastructure Assets 11,315 10,683 - - 632
Road Networks - - - - -
Flood Control Systems - - - - -
Sewer Systems - - - - -
Water Supply Systems - - - - -
Power Supply Systems 11,315 10,683 - - 632
95
Communication Networks - - - - -
Seaport Systems - - - - -
Airport Systems - - - - -
Railway Systems - - - - -
Parks, Plazas and Monuments - - - - -
Plant-Utility Plant in Service (UPIS) - - - - -
Other Infrastructure Assets - - - - -
Buildings 19,189,325 9,927,688 14,534 2,479 9,249,582
Hospitals and Health Centers - - - - -
Hostels and Dormitories - - - - -
Water Plant, Structure and Improvements - - - - -
Other Structures - - - - -
Machinery and Equipment 19,590,782 9,045,558 15,889 (88,683) 10,440,653
Office Equipment 8,949,014 5,357,330 13,309 4,354 3,582,729
Information and Communication Technology Equipment 5,994,580 3,394,716 2,556 (101,108) 2,496,199
Agricultural and Forestry Equipment - - - - -
Airport Equipment - - - - -
Communication Equipment 16,427 9,405 - - 7,023
Schedule 7
(in thousand pesos)
Impairment Losses
Construction and Heavy Equipment 3,758 2,597 - - 1,161
Disaster Response and Rescue Equipment - - - - -
Gaming Equipment - - - - -
Military, Police and Security Equipment 88,202 83,472 - - 4,730
Medical Equipment 45 45 - - 0
Printing Equipment - - - - -
Sports Equipment 11 10 - - 1
Technical and Scientific Equipment 4,520 2,311 - 2,209
Kitchen Equipment - - - - -
Electrical Equipment - - - - -
Other Machinery and Equipment 4,534,225 195,672 24 8,072 4,346,601
Transportation Equipment 2,018,730 1,303,494 4,190 (18,965) 692,080
96
Motor Vehicles 1,773,571 1,066,541 4,190 (18,965) 683,875

Trains - - - - -
Watercrafts - - - - -
Other Transportation Equipment - - - - -
Furniture, Fixtures and Books 4,676,588 2,869,050 2,176 (1,846) 1,803,517
Furniture and Fixtures 4,657,071 2,853,418 2,176 (1,846) 1,799,632
Books 19,517 15,632 - - 3,884
Leased Assets 785,605 338,880 - - 446,725
Leased Assets, Land 348,903 - - - 348,903
Leased Assets, Buildings and Other Structures 4,421 1,249 - - 3,172
Leased Assets, Machinery and Equipment - - - - -
Leased Assets, Transportation Equipment 418,554 323,917 - - 94,637
Other Leased Assets 13,726 13,714 - - 12
Leased Assets Improvements 1,455,721 572,162 909 (20,701) 861,949
Other Leased Assets Improvements 1,455,721 572,162 909 (20,701) 861,949
Heritage Assets - - - - -
Works of Arts and Archeological Specimens - - - - -
Other Heritage Assets
Schedule 7
(in thousand pesos)
Impairment Losses
Service Concession Assets - - - - -
Service Concession-Road Networks - - - - -
Service Concession-Sewer Systems - - - - -
Service Concession-Water Supply Systems - - - - -
Service Concession-Power Supply Systems - - - - -
Service Concession-Seaport Systems - - - - -
Service Concession-Railway Systems - - - - -
Service Concession-Buildings and Other Structures - - - - -
Service Concession-Machinery and Equipment - - - - -
Service Concession-Land - - - - -
Other Service Concession Assets - - - - -
97
Exploration and Evaluation Assets - - - - -

Other Exploration and Evaluation Assets
Other Property, Plant and Equipment 61,434 40,616 442 (24,009) (3,633)
Work/Zoo Animals - - - - -
Other Property, Plant and Equipment 61,434 40,616 442 (24,009) (3,633)
Construction in Progress-Land Improvements - - - - -
Construction in Progress-Infrastructure Assets - - - - -
Construction in Progress-Buildings and Other Structures 2,128,526 - - (73,824) 2,054,702
Construction in Progress-Leased Assets Improvements 4,232 - - (4,232) -
Construction in Progress-Furniture and Fixtures - - - -
Schedule 7
(in thousand pesos)
Impairment Losses
PROPERTY, PLANT AND EQUIPMENT 32,164,754 11,368,618 142,942 (929,009) 19,724,186 *
Land 13,527,520 - - (940,151) 12,587,370
Land 13,527,520 - - (940,151) 12,587,370
Land Improvements 287,593 220,499 948 290 66,435
Other Land Improvements 287,593 220,499 948 290 66,435
Infrastructure Assets 34,821 27,729 - - 7,091
Sewer Systems - - - -
Water Supply Systems 34,821 27,729 - - 7,091
Power Supply Systems - - - - -
98
Buildings and Other Structures 9,235,612 5,721,164 138,573 (9,660) 3,366,215
Buildings 9,017,018 5,537,265 138,573,067.00 - 3,341,180
Other Structures 218,594 183,899 - (9,659,600.61) 25,035
Machinery and Equipment 6,552,656 4,409,106 2,158 486 2,141,878
Office Equipment 1,782,367 1,085,082 404 593 697,475
Information and Communication Technology Equipment 4,384,421 3,054,819 1,754 (97) 1,327,751
Communication Equipment 8,476 6,880 - (10) 1,585
Schedule 7
(in thousand pesos)
Impairment Losses
Construction and Heavy Equipment 705 705 - - 0
Disaster Response and Rescue Equipment - - - - -
Military, Police and Security Equipment - - - - -
Medical Equipment 223,794 172,264 - - 51,530
Sports Equipment 6,160 2,991 - - 3,170
Technical and Scientific Equipment 47,364 27,011 - - 20,353
Other Machinery and Equipment 99,369 59,354 - - 40,014
Transportation Equipment 874,218 556,622 943 18,578 335,231
99
Motor Vehicles 874,218 556,622 943 18,578 335,231

Trains - - - - -
Aircrafts and Aircrafts Ground Equipment - - - - -
Furniture, Fixtures and Books 506,734 268,630 320 (116) 237,669
Furniture and Fixtures 503,455 266,069 319 (116) 236,952
Books 3,279 2,561 1 - 717
Leased Assets 230,442 148,137 - - 82,305
Leased Assets, Land 19,523 12,790 - - 6,733
Leased Assets, Transportation Equipment - - - - -
Other Leased Assets 661 18 - - 642
Leased Assets Improvements - - - - -
Other Leased Assets Improvements - - - - -
Heritage Assets 659,343 - - - 659,343
Other Heritage Assets - - - -
Schedule 7
(in thousand pesos)
Impairment Losses
100

Other Exploration and Evaluation Assets
Other Property, Plant and Equipment 26,128 16,730 - 1,563 10,961
Other Property, Plant and Equipment 26,128 16,730 - 1,563 10,961
Construction in Progress 229,687 - - - 229,687
Construction in Progress-Land Improvements 2,899 - - - 2,899
Construction in Progress-Infrastructure Assets - - - - -
Construction in Progress-Buildings and Other Structures 181,726 - - - 181,726
Construction in Progress-Leased Assets Improvements 39,361 - - - 39,361
Construction in Progress-Others - - - - -
Schedule 7
(in thousand pesos)
Impairment Losses
PROPERTY, PLANT AND EQUIPMENT 837,096,273 350,353,412 - (164,222) 486,578,639 *
Land 144,222,466 68,524 - 2,549 144,156,492
Land 144,222,466 68,524 - 2,549 144,156,492
Land Improvements 1,195,001 127,983 - - 1,067,018
Land Improvements, Aquaculture Structures 10,823 6,331 - - 4,491
Other Land Improvements 1,184,179 121,652 - - 1,062,527
Infrastructure Assets 202,859,664 137,387,106 - - 65,472,558
Water Supply Systems - - - - -
101
Power Supply Systems 114,615,494 101,985,201 - - 12,630,293

Communication Networks - - -
Seaport Systems 3,812,854 2,088,478 - - 1,724,375
Railway Systems 27,446,942 5,999,687 - - 21,447,255
Plant-Utility Plant in Service (UPIS) 14,657,403 8,803,592 - - 5,853,811
Other Infrastructure Assets 42,326,971 18,510,148 - - 23,816,824
Buildings and Other Structures 83,868,451 49,743,366 - (1,384) 34,123,701
Buildings 16,693,100 6,834,474 - (1,384) 9,857,242
Other Structures 67,175,350 42,908,891 - - 24,266,459
Machinery and Equipment 11,485,048 7,420,736 - (202,764) 3,861,548
Office Equipment 3,979,112 2,392,042 - (54,764) 1,532,305
Information and Communication Technology Equipment 1,661,728 1,005,431 - (143,062) 513,236
Schedule 7
(in thousand pesos)
Impairment Losses
Construction and Heavy Equipment 495,001 363,078 - (520) 131,403
Disaster Response and Rescue Equipment 24,897 26,653 - - (1,756)
Military, Police and Security Equipment 21,384 14,467 - (8) 6,909
Medical Equipment 62,019 51,780 - (411) 9,829
Printing Equipment 66,216 45,095 - - 21,121
Sports Equipment 368 167 - (56) 145
Technical and Scientific Equipment 2,205,707 1,539,103 - (513) 666,091
Other Machinery and Equipment 2,251,832 1,709,150 - (2,940) 539,742
102
Transportation Equipment 12,069,441 6,935,764 - (3,629) 5,130,049

Motor Vehicles 1,327,474 768,976 - (3,602) 554,897
Trains 9,960,046 5,493,218 - - 4,466,827
Watercrafts 274,406 257,387 - - 17,019
Other Transportation Equipment 507,516 416,183 - (27) 91,306
Furniture, Fixtures and Books 1,069,180 203,986 - (40,588) 824,606
Furniture and Fixtures 1,060,773 197,715 - (40,586) 822,472
Books 8,408 6,271 - (3) 2,134
Leased Assets 320,639 258,310 - - 62,329
Leased Assets, Machinery and Equipment 208,389 206,777 - - 1,612
Other Leased Assets 4,066 3,286 - - 780
Leased Assets Improvements - - - - -
Heritage Assets - - - - -
Works of Arts and Archeological Specimens - - - - -
Other Heritage Assets - - - - -
Schedule 7
(in thousand pesos)
Impairment Losses
Service Concession-Power Supply Systems 286,065,910 115,617,117 - - 170,448,793
Service Concession-Seaport Systems 9,154,822 4,763,084 - - 4,391,738
Service Concession-Railway Systems 19,355,919 9,013,563 - - 10,342,357
Service Concession-Buildings and Other Structures 3,385,944 1,816,565 - - 1,569,379
Service Concession-Machinery and Equipment 6,147,192 4,664,360 - - 1,482,832
Service Concession-Land 10,921,320 - - - 10,921,320
103

Exploration and Evaluation Assets 16,574,245 9,277,619 - - 7,296,626
Other Exploration and Evaluation Assets 16,574,245 9,277,619 - - 7,296,626
Other Property, Plant and Equipment 245,027 208,235 - (670) 36,122
Construction in Progress 20,168,694 - - 82,263 20,250,958
Construction in Progress-Land Improvements - - - - -
Construction in Progress-Infrastructure Assets 19,322,445 - - - 19,322,445
Construction in Progress-Buildings and Other Structures 846,250 - - 82,263 928,513
Construction in Progress-Leased Assets Improvements - - - - -
Construction in Progress-Furniture and Fixtures - - - - -
Schedule 7
(in thousand pesos)
Impairment Losses
PROPERTY, PLANT AND EQUIPMENT 229,810,749 67,578,297 1,652,177 2,895,128 163,475,403 *
Land 71,841,338 - - 982,146 72,823,484
Land 71,841,338 - - 982,146 72,823,484
Land Improvements 17,729,386 12,548,548 21,272 21,272 5,180,838
Land Improvements, Reforestation Projects 116,073 102,967 - - 13,106
Other Land Improvements 17,613,313 12,445,580 21,272 21,272 5,167,733
Infrastructure Assets 64,318,162 31,255,709 1,565,576 1,501,629 32,998,506
Road Networks 2,167,561 1,207,594 1,565,576 1,565,576 959,967
Flood Control Systems 140,831 38,189 - - 102,642
Sewer Systems 535,718 384,470 - - 151,248
Water Supply Systems 677,777 530,358 - - 147,419
104
Power Supply Systems 3,360,292 1,709,395 - - 1,650,896

Communication Networks 984 12 - - 972
Seaport Systems 5,994,582 1,240,728 - - 4,753,854
Airport Systems 51,066,794 25,910,675 - - 25,156,119
Parks, Plazas and Monuments 285,535 231,480 - - 54,056
Other Infrastructure Assets 88,089 2,808 - (63,947) 21,334
Buildings 12,015,595 4,277,306 55,716 71,273 7,753,845
Hostels and Dormitories 313,401 253,162 - - 60,239
Other Structures 3,418,316 1,753,810 - 7,442 1,671,948
Machinery and Equipment 16,918,712 10,078,983 9,111 11,097 6,841,715
Office Equipment 5,015,719 2,142,097 1,038 1,033 2,873,617
Information and Communication Technology Equipment 726,516 490,350 246 498 236,417
Agricultural and Forestry Equipment 598 234 - - 364
Airport Equipment 5,466,215 3,812,824 - - 1,653,391
Communication Equipment 631,615 476,175 - - 155,441
Schedule 7
(in thousand pesos)
Impairment Losses
Gaming Equipment - - - -
Medical Equipment 21,823 17,097 - - 4,726
Sports Equipment 15,592 13,256 - 247 2,583
Technical and Scientific Equipment 82,837 68,385 - - 14,452
Other Machinery and Equipment 4,029,541 2,525,021 7,827 9,319 1,506,012
105
Transportation Equipment 1,299,066 875,763 85 8,026 431,244

Motor Vehicles 1,008,256 718,919 85 8,026 297,278
Trains - - - - -
Watercrafts 12,486 9,352 - - 3,133
Other Transportation Equipment 6,908 6,407 - - 501
Furniture, Fixtures and Books 1,207,437 766,078 85 99 441,373
Furniture and Fixtures 1,200,481 761,251 75 89 439,244
Books 6,956 4,827 10 10 2,129
Leased Assets 462,007 349,230 - 3,361 116,138
Leased Assets, Land 22,831 2,926 - 1,710 21,615
Leased Assets, Buildings and Other Structures 434,802 341,930 - 1,651 94,523
Other Leased Assets 4,374 4,374 - - -
Leasehold Improvements - - - - -
Heritage Assets 843 - - - 843
Works of Arts and Archeological Specimens 843 - - - 843
Other Heritage Assets - - - - -
Schedule 7
(in thousand pesos)
Impairment Losses
Service Concession-Sewer Systems 289,197 198,725 - - 90,472
106

Other Exploration and Evaluation Assets - - - -
Other Property, Plant and Equipment 1,078,789 525,412 332 (98) 552,948
Work/Zoo Animals 7,971 7,573 - - 398
Other Property, Plant and Equipment 1,070,818 517,839 332 (98) 552,550
Construction in Progress 4,115,686 - - 288,881 4,404,567
Construction in Progress-Land Improvements 755,702 - - 22,148 777,850
Construction in Progress-Infrastructure Assets 1,908,634 - - 266,733 2,175,367
Construction in Progress-Buildings and Other Structures 1,430,650 - - - 1,430,650
Construction in Progress-Furniture and Fixtures 303 - - - 303
Schedule 7
(in thousand pesos)
Impairment Losses
PROPERTY, PLANT AND EQUIPMENT 267,083,886 22,992,304 - 1,070,547 245,162,129 *
Land 12,962,534 - - (518,760) 12,443,774
Land 12,962,534 - - (518,760) 12,443,774
Land Improvements 33,858,518 13,199,750 - 162,656 20,821,424
Other Land Improvements 33,858,518 13,199,750 - 162,656 20,821,424
Infrastructure Assets 77,520,290 1,432,112 - 1,811,955 77,900,133
Road Networks 200,278 - - - 200,278
Water Supply Systems 76,399,818 1,223,883 - 1,811,903 76,987,837
Power Supply Systems 115,192 46,347 - 53 68,897
107
Seaport Systems 805,003 161,882 - - 643,121
Buildings and Other Structures 6,583,318 3,004,631 - 19,904 3,598,591
Buildings 3,535,632 1,548,308 - 26,608 2,013,932
Other Structures 2,919,191 1,375,145 - (6,704) 1,537,342
Machinery and Equipment 6,593,910 3,726,204 - (3,329) 2,864,378
Office Equipment 556,736 317,058 - (1,557) 238,122
Information and Communication Technology Equipment 825,907 500,940 - (887) 324,080
Agricultural and Forestry Equipment 857,185 125,038 - - 732,148
Schedule 7
(in thousand pesos)
Impairment Losses
Medical Equipment 40,954 14,081 - (77) 26,796
Sports Equipment 2,064 902 - - 1,162
Technical and Scientific Equipment 1,008,975 577,203 - (346) 431,426
Electrical Equipment 340 58 - (43) 239
Other Machinery and Equipment 2,598,722 1,698,780 - (402) 899,540
108
Transportation Equipment 1,202,477 799,385 - (91) 403,002

Motor Vehicles 1,170,144 779,474 - (91) 390,579
Trains - - - - -
Watercrafts 3,321 1,681 - - 1,640
Other Transportation Equipment 29,012 18,230 - - 10,782
Furniture, Fixtures and Books 330,541 175,004 - (377) 155,161
Furniture and Fixtures 327,549 173,651 - (376) 153,523
Books 2,992 1,353 - (2) 1,638
Leased Assets 32,096 18,928 - - 13,168
Other Leased Assets - - - - -
Leasehold Improvements 49,059 30,965 - - 18,094
Other Leased Assets Improvements 49,059 30,965 - - 18,094
Heritage Assets 169 - - - 169
Works of Arts and Archeological Specimens 169 - - - 169
Other Heritage Assets - - - -
Schedule 7
(in thousand pesos)
Impairment Losses
Service Concession Assets 95 - - - 95
109
Other Service Concession Assets 95 - - - 95

Exploration and Evaluation Assets 264,891 16,443 - - 248,448
Other Exploration and Evaluation Assets 264,891 16,443 - - 248,448
Other Property, Plant and Equipment 1,240,800 588,883 - 33,967 685,885
Work/Zoo Animals 1,240,800 588,883 - 33,967 685,885
Other Property, Plant and Equipment - - - -
Construction in Progress-Land Improvements 32,178 - - - 32,178
Construction in Progress-Infrastructure Assets 126,309,850 - - (435,378) 125,874,471
Construction in Progress-Leased Assets Improvements - - - - -
Construction in Progress-Furniture and Fixtures - - - - -
Schedule 7
(in thousand pesos)
Impairment Losses
PROPERTY, PLANT AND EQUIPMENT 36,339,119 16,158,578 553,825 19,647 19,646,363 *
Land 8,370,523 - - - 8,370,523
Land 8,370,523 - - - 8,370,523
Land Improvements 168,753 102,281 - - 66,472
Other Land Improvements 168,753 102,281 - - 66,472
Infrastructure Assets 38,621 7,352 - - 31,269
Road Networks 33,292 2,594 - - 30,698
Water Supply Systems 4,189 4,189 - - 0
110
Power Supply Systems 1,036 569 - - 467

Other Infrastructure Assets 104 - - - 104
Buildings and Other Structures 4,827,023 1,766,434 447,656 287 2,613,220
Buildings 4,198,084 1,527,646 447,656 287 2,223,069
Water Plant, Structure and Improvements 40,152 21,909 - - 18,242
Other Structures 394,963 134,039 - - 260,924
Machinery and Equipment 18,594,117 12,493,995 106,169 30,144 6,024,097
Office Equipment 1,730,768 1,083,656 - (1,530) 645,582
Information and Communication Technology Equipment 2,501,203 1,392,083 - (634) 1,108,486
Communication Equipment 1,120,212 514,901 - 32,308 637,620
Schedule 7
(in thousand pesos)
Impairment Losses
Construction and Heavy Equipment - - - - -
Disaster Response and Rescue Equipment 4,345 3,862 - - 483
Gaming Equipment 8,286,592 7,211,192 - - 1,075,400
Medical Equipment 3,113,820 1,502,122 - - 1,611,698
Printing Equipment 345 233 - - 112
Sports Equipment 2,362 1,031 - - 1,331
Technical and Scientific Equipment 1,258,565 531,370 106,169 - 621,027
Kitchen Equipment 3,523 1,316 - - 2,206
Electrical Equipment 352 263 - - 90
Other Machinery and Equipment 565,168 248,911 - - 316,257
111
Transportation Equipment 980,047 612,922 - (4,836) 362,289

Motor Vehicles 980,047 612,922 - (4,836) 362,289
Trains - - - - -
Furniture, Fixtures and Books 803,748 396,910 - (5,607) 401,231
Furniture and Fixtures 791,008 391,019 - (5,607) 394,382
Books 12,740 5,891 - - 6,848
Leased Assets 677,935 497,316 - - 180,619
Other Leased Assets 2,211 2,211 - - -
Leasehold Improvements - - - - -
Heritage Assets 52,285 - - (52) 52,234
Other Heritage Assets 112 - - (52) 60
Schedule 7
(in thousand pesos)
Impairment Losses
112

Other Exploration and Evaluation Assets - - - - -
Construction in Progress 1,233,711 - - (287) 1,233,424
Construction in Progress-Land Improvements 287 - - (287) -
Construction in Progress-Infrastructure Assets 170 - - - 170
Schedule 8
Top 20 Government Corporation Taxpayers
(in thousand pesos)
Rank Name of Government Corporations Taxes
Income Withholding Others Total
1 Bangko Sentral ng Pilipinas 1,254,425 13,420,799 32,495 14,707,719
2 Power Sector Assets and Liabilities Management Corporation 730,323 3,465,335 9,275,664 13,471,322
3 Philippine Amusement and Gaming Corporation 116,122 545,029 11,107,473 11,768,624
4 Land Bank of the Philippines 624 2,788,620 6,361,176 9,150,420
5 Philippine Charity Sweepstakes Office - 3,402,804 5,298,407 8,701,211
6 Philippine Ports Authority 2,071,936 1,288,382 2,347 3,362,665
7 Development Bank of the Philippines 200,486 954,259 1,755,897 2,910,642
8 Manila International Airport Authority 1,521,870 326,495 776,299 2,624,664
113
9 Philippine Health Insurance Corporation - 1,788,282 - 1,788,282

10 Government Service Insurance System - 844,618 278,252 1,122,870
11 Philippine Reclamation Authority 1,009,360 17,195 1 1,026,556
12 Bases Conversion and Development Authority 157,504 108,198 739,507 1,005,209
13 Social Security System - 827,742 16 827,758
14 PNOC Exploration Corporation 737,876 44,375 540 782,791
15 Food Terminal, Inc. 708,566 5,096 22,195 735,858
16 National Power Corporation - 730,617 - 730,617
17 Home Development Mutual Fund - 665,560 - 665,560
18 Philippine Economic Zone Authority 533,685 45,731 34,497 613,913
19 National Food Authority - 550,677 278 550,954
20 Philippine Postal Corporation 28,041 137,791 303,734 469,566
Schedule 9
Top 20 Government Corporations with Dividend Remittances

Rank Name of Government Corporations Amount

(in thousand pesos)
1 Philippine Deposit Insurance Corporation 7,461,225

2 Development Bank of the Philippines 2,516,158
3 Manila International Airport Authority 2,226,520
4 Civil Aviation Authority of the Philippines 2,080,156
5 Philippine Ports Authority 1,956,429
6 Bangko Sentral ng Pilipinas 1,842,496
7 National Power Corporation 1,398,936
8 Philippine Amusement and Gaming Corporation 1,182,620
9 Subic Bay Metropolitan Authority 923,600
10 Philippine Economic Zone Authority 622,914
11 PNOC Exploration Corporation 519,424
12 Clark Development Corporation 500,000
13 National Development Company 421,309
14 Cebu Port Authority 344,996
15 Philippine Reclamation Authority 323,761
16 Local Water Utilities Administration 319,076
17 Home Guaranty Corporation 277,496
18 Cagayan Economic Zone Authority 240,592
19 Metropolitan Waterworks and Sewerage System 232,633
20 Philippine Retirement Authority 208,885
114
Schedule 10
Breakdown of Domestic Loans
December 31, 2017
(in thousand pesos)
Name of Government Corporations Source Amount
1 National Food Authority Development Bank of the Philippines 20,991,460

Land Bank of the Philippines 17,049,106
Interest Payable 118,300
Banco de Oro Unibank, Inc. 21,690,400
Bank of the Philippine Islands 11,400,000
Development Bank of the Philippines 12,100,000
115
China Banking Corporation 6,232,000

Philippine National Bank 2,280,000
Metropolitan Bank and Trust Company 1,390,800
Mizuho Corporate Bank Ltd. 326,800
Bureau of the Treasury 8,000,000
Corn Development Fund 6,500
DBP - Minprocor Properties 91,200
Human Settlements Development Corporation 509,094
Agrarian Credit Loan 205
Ministry of Agriculture and Food 121
Interest Payable 483,607 120,764,593
Schedule 10
2 Power Sector Assets and Liabilities

Land Bank Short Term Loan 15,000,000
Management Corporation
Land Bank of the Philippines (LBP) 63,653,674
DOE-Quarterly Assigned Petroleum Agreement/
NG Relending Facility 24,342,139 102,995,813
3 Philippine Deposit Insurance Corporation Bangko Sentral Ng Pilipinas 64,237,340
4 National Home Mortgage Finance Corporation SSS 22,815,697

HDMF 3,181,622
Due to Treasurer of the Philippines 778,551 26,775,870
116
5 Develoment Bank of the Philippines Citibank 8,299,246

Bank of the Philipine Islands, HO 33,847
Government Service Insurance System 144
NEDA IGLF 5,687,756 14,020,993
6 National Irrigation Administration Asian Development Bank 2,829,469

International Bank for Reconstruction and 3,107,554
Overseas Economic Cooperation Fund 266,584
Special Project Implementation Assistance Loan 156,480
National Development Company 1,950,000 8,310,086
7 Quedan and Rural Credit Guarantee Corporation Agricultural Credit and Policy Council 1,132,720
Department of Agrarian Reform 117,083
Department of Agriculture 1,005,000
National Dairy Authority 30,946
Schedule 10
National Food Authority 34,555

Small Business Guarantee and Finance Corporation 7,572
Others 395 4,747,024
8 Home Guaranty Corporation Issuance of debenture bonds 14,669

Guaranty obligations to SSS (inclusive of interest) 4,676,879 4,691,547
9 LBP Leasing and Finance Corporation Land Bank of the Philippines 1,627,282
Philippine National Bank 445,000
Bank of the Philippine Islands 50,000
117
Security Bank 300,000 2,422,282
10 National Development Company Bureau of Treasury 2,302,772

DOLE Philippines, Inc. 4,052 2,306,824
11 Manila International Airport Authority Land bank of the Philippines 1,098,513

Development Bank of the Philippines 1,098,512 2,197,025
12 Small Business Guarantee and Finance Notes Payable to various Financial Institutions (SME Notes)
1,570,250
Corporation Loans payable to International Fund for 27,315 1,597,565
13 PNOC Shipping and Transport Corporation PNOC 1,323,627
14 DBP Leasing Corporation Bank of the Philippine Islands 491,505

Banco de Oro 61,538
Eastwest Bank 92,000
Schedule 10
Metrobank 100,000
Philippine National Bank 225,000
Chinabank Savings 150,000
Security Bank 150,000 1,270,043
15 Trade and Investment Development Corporation Land Bank of the Philippines 812,250
16 Subic Bay Metropolitan Authority Land bank of the Philippines 808,866
17 Light Rail Transit Authority Landbank of the Philippines 651,800

118
18 Metropolitan Waterworks and Sewerage System DBP/LBP 80,357

SPIAL 172,951
Asian Development Bank (ADB) 1746 125,978
NHA 98,795
International Bank for Reconstruction &
72,151
Development (IBRD) 550,232
19 Northern Foods Corporation National Livelihood Development Corporation 61,363

Human Settlements Development Corporation 291,846
Quedan and Rural Credit Gurantee Corporation 193,169
Others 103 546,480
20 Local Water Utilities Administration Asian Development Bank (ADB) 1056 116,676
IDA 920-PHI (12,800)
JBIC PH-P149 353,671 470,123
Schedule 10
21 Clark International Airport Corporation Land bank of the Philippines 312,856

Philippine Veterans Bank 84,384 397,240
22 Philippine Pharma Procurement Inc. (formerly

PITC Pharma, Inc.) National Development Company 291,795
23 Al-Amanah Islamic Investment Bank of the

Philippines Al-Murabaha Working Capital Financing 28,511
Al-ljarah (Leasing) - Financing 49,752
Al-Bai Bithaman Ajil-Financing 2,000
Agricultural Loans 1,302
119
Industrial Loans-Private Corporation 919

Small and Medium Enterprise Loans 25,977
Small and Medium Enterprise Loans (Restructured 4,866
Loans)
Real Estate Loans 13,000
Government Loans - LGU 26,208
Government Loans - GOCC 58,897
Past Due Loans (Conventional) 107 211,539
24 Philippine Mining Development Corporation National Development Company 67,533

JB Management Mining Corporation Victory 55,000 122,533
25 APO Production Unit Philippine National Bank 85,868

Privatization and Management Office 8,650 94,518
26 National Tobacco Administration Philippine Deposit Insurance Corporation 78,729

Schedule 10
27 Intercontinental Broadcasting Corporation Bank of Commerce 75,000
28 Social Housing Finance Corporation Bangko Sental ng Pilipinas (BSP) 73,967
29 Land Bank of the Philippines Bangko Sentral Ng Pilipinas 62,382
30 National Dairy Authority Agricultural Credit and Policy Council 60,031
31 Natural Resources Development Corporation Philippine National Oil Company - Energy 56,201
Development Corporation
120
32 National Livelihood Development Corporation Human Settlement Development Corporation 52,510
33 Lung Center of the Philippines Land Bank of the Philippines 50,000
34 Boy Scouts of the Philippines Land Bank of the Philippines 12,832
35 Panay Railways, Inc. DBP 11,028
36 Philippine Postal Corporation Philippine Postal Saving Bank 6,366
37 Northeastern Luzon Coastal Pacific Services, Inc.Development Bank of the Philippines 3,069
TOTAL 363,160,122
Schedule 11
Breakdown of Foreign Borrowings
December 31, 2017
(in thousand pesos)
1 Power Sector Assets and Liabilities DBP/Morgan Stanley and UBS AG 144,252,294
Management Corporation International Development Association 67,503
Overseas Private Investment Corp./Salomon Smith 15,989,921
ADB 4,844 160,314,562
2 Development Bank of the Philippines Taiwan Cooperative Bank Manila 499,300

KDB Asia Limited, Hongkong 748,950
121
Sumitomo Bank, HK 424,405

Standard Chartered Bank, SG 1,248,250
Shinsei Bank, Limited 1,248,250
ING Bank Singapore 249,650
ANZ Bank Singapore 1,248,250
Cathay United Bank Co., Ltd. 1,497,900
Mega Inlt Commercial Bank Co. Ltd 998,600
Commerzbank AG., Filiale Luxembourg 1,098,460
Mizuho Bank Ltd Singapore 1,098,460
The Chiba Bank Ltd Hongkong 249,650
Fuyo General Lease (HK), Limited 249,650
The Shizuoka Bank Ltd Hongkong 1,248,250
The Shanghai Comml & Savings Bank 249,650
Shinkin Central Bank 998,600
Schedule 11
ING Bank, Amsterdam 1,923,622

ING Bank, Amsterdam 734,215
ING Bank, Amsterdam 1,485,648
Standard Chartered Bank, London 469,639
122

The Bank of Montreal, Toronto Canada 599,160
CoBank Denver 249,650
Zuercher Kantonal Bank 1,248,250
CoBank Denver 1,997,200
ADB Credit For Better Health Care Program
(CBHCP) 870,984
IBRD Regional Infrastructure For Growth Project
(RIGP) 4,273
Schedule 11
IBRD Rural Power Project (RPP) 264,030

IBRD Local Government Unit II (LGU II) 125,447
JBIC JBIC DABP 6 (JBIC 6) 1,334,329
JICA Asian Japan Development Fund (AJDF) 2,284,502
JICA Domestic Shipping & Modernization Program I
(DSMP I) 1,928,773
JICA Domestic Shipping & Modernization Program I
(DSMP II) 4,653,755
JICA Environmental Development Project Non
Water (EDP NW) 7,561,199
JICA Environmental Development Project Technical
Assistance (EDP TA) 95,323
123
JICA Environmental Development Project - Phil

Water Revolving Fund (EDP PWRF) 3,380,301
JICA Environmental Infrastructure Support Credit
Program I (EISCP I) 932,863
JICA Environmental Infrastructure Support Credit
Program I (EISCP II) 6,586,123
JICA Industrial & Support Services Expansion
Program I (ISSEP I) 3,417,176
JICA Industrial & Support Services Expansion
Program I (ISSEP II) 11,312,259
JICA Logistics Infrastructure Development Project
(LIDP) 8,628,302
KfW Cottage Enterprise Finance Project (CEFP) 38,881
KfW Credit Line For Small & Medium Enterprise
(CLSME) 1,139,330
Schedule 11
KfW Credit Line For Solid Waste Management

(CLSWM) 391,466
KfW Industrial Pollution Control Loan Project II
(IPCLP II) 432,024
KfW Sustainable Health Care Investment Program
(SHCIP) 481,254
KFW Industrial Pollution Control Loan I (IPCLP I) 179,645
NDF Nordic Development Fund#5mm (NDF $5MM) 33,878 83,060,734
3 Land Bank of the Philippines Asian Development Bank 526,700

International Fund for Agricultural Development 66,073
124
Kreditanstalt für Wiederaufbau (KfW) 1,683,613

Japan International Cooperation Agency (JICA) 10,990,095
International Bank for Reconstuction & Development
(IBRD) 11,251,244 24,517,725
4 Light Rail Transit Authority Japan Bank for International Coop (JBIC) loans 21,628,114
Belgian State Loans 135,293
Belgian Loan 301,464
Natexis Banque (Credit Nationale) 83,112 22,147,983
5 Bases Conversion and Development Japan International Cooperation Agency 20,234,418

Schedule 11
6 Metropolitan Waterworks and Sewerage Asian Development Bank 1,273,858

JBIC-OECF 1,531,255
China Eximbank (AWUAP II) 4,801,391
French Protocol 2,821
Asian Development Bank 562,374 8,171,699
7 Subic Bay Metropolitan Authority Japan Bank for International Cooperation/OECF II 5,241,789
Japan Bank for International Cooperation/OECF II 173,704
World Bank II 60,405 5,475,898
8 Philippine Ports Authority Japan Bank for International Coop (JBIC) loans 3,983,071
125
9 PHIVIDEC Industrial Authority Relent Loans 2,576,683

NG Advances on PIA Loans/debt service 529,170
Other Receivables(interest, FX risk cover fees, etc.) 187,098 3,292,951
10 Local Water Utilities Administration Asian Development Bank (ADB) 1269 110,005
OECF PH-P154 332,953
OECF PH-P181 870,772
Kreditanstatlt fur Weideraufbau (KfW) PTWSP I &
649,662
II
Kreditanstatlt fur Weideraufbau (KfW) PTWSP III 314,845
French Protocol 23,230 2,767,498
Schedule 11
11 Manila International Airport Authority Japan International Cooperation Agency formerly

Overseas Economic Cooperation Fund of Japan 2,346,367
Natixis Banque (formerly Credit Nationale)-French
Loan 29,597 2,375,964
12 Philippine National Railways Japan Bank for International Coop (JBIC) loans PH-
98 162,991
Japan Bank for International Coop (JBIC) loans PH-
119 140,042
EDCF/Korea 1,277,862
KEXIM-II 192,906
RZB Austria 94,488 1,868,289
126
13 Small Business Guarantee and Finance Loans Payable to Asian Development Bank
Corporation (guaranteed by the National Government) 478,773
Loans Payable to Kreditanstalt fur Wiederaufbau
(guaranteed by the NationalGovernment) 658,032 1,136,805
14 North Luzon Railways Corporation Barclays Bank PLC 1,034,578
15 National Power Corporation NATIXIS 619,213

Bangue Paribas 69,780 688,993
16 National Irrigation Administration Asian Development Bank 139,040

International Bank for Reconstruction and 83,155
International Fund for Agricultural Development 49,059 271,254
17 Tourism Infrastructure and Enterprise Zone Japan Bank for International Cooperation 234,525
Authority
Schedule 11
18 Philippine Economic Zone Authority Japan Bank for International Cooperation 97,249
19 National Food Authority 1995 Japanese Rice Loan 97,004
20 Partido Development Administration ABN AMRO Bank N.V. Copenhagen, Denmark 56,254
21 Bangko Sentral Ng Pilipinas BPD-Circular 1202 (EUR) 28,381
22 Clark Development Corporation Deutsche Bank 20,910
23 Authority of the Freeport Area of Bataan Japan International Cooperation Agency formerly
127
Overseas Economic Cooperation Fund of Japan 12,336
TOTAL 341,889,081
Schedule 12
Subsidy Received from other Government Agencies

Name of Government Corporations Amount

(in thousand pesos)
Cebu Port Authority 127,620,120
Manila International Airport Authority 3,609,522
National Electrification Administration 2,050,736
Bases Conversion and Development Authority 1,350,590
Small Business Guarantee and Finance Corporation 950,072
Tourism Promotions Board 688,030
Philippine Children's Medical Center 544,163
Occupational Safety & Health Center 118,955
Employees Compensation Commission 102,273
Center for International Trade Expositions and Missions 11,637
Subic-Clark Alliance for Development 7,346
Philippine National Railways 4,207
128
Schedule 13
Annual Growth in Subsidy Income from the National Government

(in thousand pesos)
Name of Government Corporations Amount Annual Growth

2017 2016 Amount Percent
National Irrigation Administration 31,689,502 22,665,935 9,023,567 39.81%

National Housing Authority 19,557,279 12,040,104 7,517,175 62.43%
National Electrification Administration 2,050,736 - 2,050,736 100.00%
Small Business Guarantee and Finance Corporation 950,072 7,064 943,008 13349.49%
Philippine Crop Insurance Corporation 2,500,000 1,600,000 900,000 56.25%
Clark Development Corporation 816,021 - 816,021 100.00%
Sugar Regulatory Administration 1,136,211 601,104 535,108 89.02%
129
Subic Bay Metropolitan Authority 495,815 - 495,815 100.00%

Social Security System 541,076 118,411 422,665 356.95%
Cultural Center of the Philippines 842,620 561,818 280,802 49.98%
National Home Mortgage Finance Corporation 1,000,000 750,000 250,000 33.33%
Philippine Postal Corporation 536,537 301,000 235,537 78.25%
National Power Corporation 1,191,680 980,822 210,858 21.50%
Philippine Heart Center 613,594 453,424 160,170 35.32%
Philippine Institute for Development Studies 163,537 73,672 89,865 121.98%
Philippine Coconut Authority 1,339,117 1,250,875 88,242 7.05%
Lung Center of the Philippines 265,190 202,144 63,046 31.19%
Philippine Institute of Traditional and Alternative Health Care 116,932 55,646 61,286 110.14%
Zamboanga City Special Economic Zone Authority 50,000 - 50,000 100.00%
Philippine Rice Research Institute 561,000 518,000 43,000 8.30%
Aurora Pacific Economic Zone Authority 40,000 - 40,000 100.00%
Schedule 13
Name of Government Corporations Amount Annual Growth

2017 2016 Amount Percent
Local Water Utilities Administration 29,155 - 29,155 100.00%

Center for International Trade Expositions and Missions 220,000 195,000 25,000 12.82%
Philippine Center for Economic Development 44,745 28,169 16,576 58.84%
National Dairy Authority 199,945 190,472 9,473 4.97%
John Hay Management Corporation 69,965 69,652 313 0.45%
Power Sector Assets and Liabilities Management Corporation - 1,828 (1,828) (100.00%)
Development Academy of the Philippines 212,159 249,841 (37,682) (15.08%)
Credit Information Corporation 47,574 93,268 (45,694) (48.99%)
Philippine Fisheries Development Authority 85,596 160,045 (74,449) (46.52%)
130
National Tobacco Administration 553,931 686,500 (132,569) (19.31%)

Philippine National Railways 525,295 794,645 (269,350) (33.90%)
Tourism Promotions Board 688,030 1,052,013 (363,983) (34.60%)
Philippine Children's Medical Center 544,163 927,323 (383,160) (41.32%)
People's Television Network, Inc. 317,273 829,002 (511,729) (61.73%)
Social Housing Finance Corporation 1,246,205 1,975,798 (729,593) (36.93%)
Light Rail Transit Authority 819,389 1,655,398 (836,009) (50.50%)
National Food Authority 6,882,089 10,646,652 (3,764,562) (35.36%)
TOTAL 78,942,435 61,735,626 17,206,809

Schedule 14
Summary of Representation, Extraordinary and Miscellaneous, Advertising
Promotional and Marketing Expenses, Confidential, Intelligence and Consultancy Services
(in thousand pesos)
Extraordinary Advertising,
and Promotional Confidential/ Consultancy
Name of Government Corporations Representation Total
Miscellaneous and Marketing Intelligence Services
Expenses Expenses
Alabang Sto. Tomas Development, Inc. 16 - - - - 16

Al-Amanah Islamic Investment Bank of the Philippines 683 - 44 - 1,595 2,322
APO Production Unit 1,082 24 2,999 - 200 4,305
Armed Forces of the Philippines Retirement and Separation
421 - 14 - 2,043 2,478
Benefits System
131
Aurora Pacific Economic Zone Authority and Freeport

2,984 246 598 - - 3,828
Authority
Authority of the Freeport Area of Bataan 1,463 401 527 - 6,132 8,523
Bangko Sentral Ng Pilipinas 377,437 3,289 16,268 15,883 16,782 429,659
Bases Conversion and Development Authority 9,245 - 18,968 - 22,336 50,549
Batangas Land Company, Inc. 24 - 5 - - 29
Boy Scouts of the Philippines - - - - 802 802
Bukidnon Forests, Inc. 57 - - - - 57
Cagayan Economic Zone Authority 3,240 537 2,638 - 2,665 9,079
CDCP Farms Corporation - - - - - -
Cebu Ports Authority 694 - 257 - 75 1,026
Center for International Trade Expositions and Missions 5,185 127 27,587 - - 32,898
Civil Aviation Authority of the Philippines 16,103 126 3,302 10,895 7,468 37,894
Clark Development Corporation 5,066 - 26,462 - 5,744 37,272
Clark International Airport Corporation 994 - 6,446 - 1,221 8,661
Corregidor Foundation, Inc. 6 - - - - 6
Credit Information Corporation 1,105 176 1,375 - 2,030 4,686
Schedule 14
Expenses Expenses
Cultural Center of the Philippines 913 - 223 - 876 2,012

DBP Data Center, Inc. 507 67 63 - - 637
DBP Leasing Corporation 245 - 4 - - 249
Development Academy of the Philippines 4,195 272 72 - 56,183 60,721
Development Bank of the Philippines 12,004 - 2,377 - 34,471 48,852
Duty Free Philippines Corporation 2,586 11,893 44,678 - 3,912 63,069
Employees' Compensation Commission 753 118 30,868 - - 31,739
First Cavite Industrial Estate Inc. 7 - - - - 7
Food Terminal, Inc. - 880 13 - - 893
Government Service Insurance System 7,211 - 106,728 - 6,289 120,228
132
GY Realty Estate, Inc. 7 - - - - 7

Home Development Mutual Fund 30,450 - 114,811 - 12,662 157,923
Home Guaranty Corporation 485 2,909 75 - 4,984 8,453
Human Settlements Development Corporation 302 333 18 - - 654
Intercontinental Broadcasting Corporation 1,141 - - - - 1,141
John Hay Management Corporation 1,386 - 615 - - 2,001
Kamayan Realty Corporation 5 - 4 - - 9
Laguna Lake Development Authority 1,970 174 202 - 1,275 3,621
Land Bank of the Philippines 266,878 21,791 260,999 - 319,669 869,337
Landbank Countryside Development Foundation, Inc. 241 351 - - - 592
Landbank Insurance Brokerage, Inc. 1,549 - 29 - - 1,578
LBP Leasing and Finance Corporation 1,985 - 646 - 854 3,485
LBP Resources and Development Corporation 129 - 5 - - 134
Light Rail Transit Authority 563 167 294 - 2,155 3,179
Local Water Utilities Administration 11,885 275 1,492 - 13,117 26,769
Lung Center of the Philippines - 133 90 - 1,399 1,622
Schedule 14
Expenses Expenses
Mactan-Cebu International Airport Authority - 1,233 117 - 772 2,122

Manila Gas Corporation - - - - 0 0
Manila International Airport Authority 1,274 31,193 1,010 - 4,147 37,623
Masaganang Sakahan, Inc. 399 - 253 - - 652
Metropolitan Waterworks and Sewerage System 2,009 4,868 109 - 4,348 11,334
National Dairy Authority 1,243 464 3,521 - 1,096 6,325
National Development Company 1,440 369 87 - 4,736 6,632
National Electrification Administration 447 85 87 - 11,947 12,566
National Food Authority 16,759 3,548 592 - 2,480 23,379
National Home Mortgage Finance Corporation 6,812 3,532 6,141 - 279 16,764
133
National Housing Authority 4,658 135 2,333 - 4,931 12,057

National Irrigation Administration 12,719 561 416 - 4,083 17,779
National Kidney and Transplant Institute - 248 9 - 3,757 4,013
National Livelihood Develpment Corporation 1,508 199 - - - 1,707
National Power Corporation 1,301 808 - - - 2,109
National Tobacco Administration 5,807 300 110 - 243 6,460
National Transmission Corporation 1,942 3,151 759 - 4,617 10,469
Natural Resources Development Corporation 116 251 99 - 16,325 16,791
NDC-Philippine Infrastructure Corporation 1 - - - - 1
North Luzon Railways Corporation 399 - - - 1,518 1,917
Northern Foods Corporation 1,674 46 90 - 560 2,369
Occupational Safety and Health Center 1,327 105 2,226 - 732 4,390
Panay Railways, Inc. - 84 - - 9 93
Partido Development Administration - 116 - - - 116
People's Television Network, Inc. 475 - 294 - - 769
Philippine Amusement and Gaming Corporation 194,321 - 44,492 - 30,184 268,997
Philippine Charity Sweepstakes Office 339 343 114,347 - 16,883 131,912
Schedule 14
Expenses Expenses
Philippine Children's Medical Center - 118 24 - - 141

Philippine Coconut Authority 357 682 296 - 305 1,641
Philippine Crop Insurance Corporation 3,400 1,968 7,439 - 1,699 14,506
Philippine Deposit Insurance Corporation 16,873 32,540 1,498 - 2,634 53,545
Philippine Economic Zone Authority 1,342 257 184 - 4,056 5,839
Philippine Fisheries Development Authority 1,267 288 123 - 2,304 3,982
Philippine Health Insurance Corporation 34,355 12,186 141,961 - 4,338 192,840
Philippine Heart Center 417 38 180 - - 635
Philippine Institute for Development Studies 468 194 11 - 8,253 8,927
Philippine Institute of Traditional and Alternative Health
134
Care 187 113 2,547 - - 2,847

Philippine International Convention Center, Inc. 2,070 - 8,379 - - 10,449
Philippine International Trading Corporation 2,543 56 3,491 - 830 6,919
Philippine Mining Development Corporation 181 139 3 - 337 660
Philippine National Construction Corporation 304 - 49 - 3,479 3,832
Philippine National Oil Company 6,257 228 1,207 - 1,614 9,306
Philippine National Railways 471 - - - 2,177 2,648
Philippine Pharma Procurement Inc. (formerly PITC
Pharma, Inc.) 53 - 49 - 723 825
Philippine Ports Authority 24,131 6,039 2,022 2,000 78,797 112,989
Philippine Postal Corporation - 1,663 5,420 - 682 7,765
Philippine Postal Saving Bank, Inc. 10,724 - 409 - 628 11,761
Philippine Reclamation Authority 1,670 70 2,245 - - 3,985
Philippine Retirement Authority 5,242 131 53,272 - 1,569 60,213
Philippine Rice Research Institute 34 - 302 - 355 690
Philippine Sugar Corporation 352 171 50 - 300 873
PHIVIDEC Industrial Authority 982 - 231 - 53 1,266
Schedule 14
Expenses Expenses
Pinagkaisa Realty Corporation 4 - - - - 4

PNOC Alternative Fuels Corporation 254 - 5 - - 259
PNOC Development & Management Corporation 1 - - - - 1
PNOC Exploration Corporation 2,701 - 5,737 - 2,748 11,186
PNOC Renewables Corporation 2,485 - 150 - 1,340 3,975
Poro Point Management Corporation 469 2,659 - - - 3,128
Power Sector Assets and Liabilities Management 4,854 643 1,275 - 2,824 9,596
Quedan and Rural Credit Guarantee Corporation - 112 30 - 142
Small Business Guarantee and Finance Corporation - 4,046 387 - 1,136 5,569
Social Housing Finance Corporation 4,911 2,678 1,960 - 12,750 22,299
135
Social Security System 101,487 1,829 66,929 - 2,028 172,273

Subic Bay Metropolitan Authority - 1,018 13,894 - 5,638 20,550
Subic-Clark Alliance for Development 175 - - - - 175
Sugar Regulatory Administration 467 43 301 - - 810
Tourism Infrastructure and Enterprise Zone Authority 3,865 245 30,404 - 33,399 67,913
Tourism Promotions Board 2,022 - 837,937 - 1,861 841,820
Trade and Investment Development Corporation of the
Philippines 486 - 1,246 - - 1,732
Zamboanga City Special Economic Zone Authority* 646 247 1,301 - - 2,194
TOTAL 1,268,678 166,327 2,041,835 28,778 819,442 4,325,059

Schedule 15
Top 20 Government Corporations with

Highest Amount of Total Assets

(in thousand pesos)
1 Bangko Sentral ng Pilipinas (with Philippine International

Convention Center, Inc.) 4,666,957,954
2 Land Bank of the Philippines 1,623,837,515
3 Government Service Insurance System 1,123,950,659
4 Power Sector Assets and Liabilities Management Corporation 788,811,950
6 Social Security System 504,865,483
7 Home Development Mutual Fund 488,744,520
8 National Irrigation Administration 351,843,238
9 National Food Authority 323,440,350
10 National Transmission Corporation 310,778,062
12 Bases Conversion and Development Authority 159,416,063
13 Philippine Health Insurance Corporation 151,820,634
14 National Housing Authority 136,169,183
17 Light Rail Transit Authority 67,846,243
18 Metropolitan Waterworks & Sewerage System 57,788,616
20 Philippine National Railways 52,484,152
136
Schedule 16

Highest Amount of Total Liabilities

(in thousand pesos)

Convention Center, Inc.) 4,586,269,440
2 Land Bank of the Philippines 1,509,813,588
6 Central Bank-Board of Liquidators 413,152,197
14 National Home Mortgage Finance Corporation 35,082,181
15 National Electrification Administration 28,549,014
17 Home Guaranty Corporation 23,789,335
19 North Luzon Railways Corporation 21,794,350
20 Philippine International Trading Corporation 19,822,898
137
Schedule 17

Highest Amount of Total Equity

(in thousand pesos)
1 Government Service Insurance System 1,104,780,208

9 National Housing Authority 118,663,659
10 Land Bank of the Philippines 114,023,927
Convention Center, Inc.) 80,688,514
15 Metropolitan Waterworks & Sewerage System 45,233,870
17 Philippine National Oil Company 37,111,013
138
Schedule 18

Highest Amount of Total Income

(in thousand pesos)
1 Government Service Insurance System 276,069,438

15 Duty Free Philippines Corporation 11,012,752
17 Philippine Charity Sweepstakes Office 9,719,126
20 PNOC Exploration Corporation 4,380,310
139
Schedule 19

Highest Amount of Total Expenditures

(in thousand pesos)

2 Government Service Insurance System 181,282,900
10 Water Districts 23,199,677
13 Duty Free Philippines Corporation 10,833,035
140
Annex A
Summary of Data of Government Corporations by Cluster
Parent /
Non-
Name of Government Corporations Acronym Controlling GBE Address Enabling Law/Creation
Entity
GBE
Cluster 1- Banking and Credit

1 Bangko Sentral ng Pilipinas BSP - A. Mabini and P. Ocampo Streets, Manila Section 20, Article XII of Philippine

Constitution and RA No. 7653
2 Central Bank - Board of Liquidators CB-BOL BSP Rm. 610 EDPC Bldg. BSP Complex, Manila EO No. 169 as amended by EO No. 455

3 Credit Information Corporation CIC BSP Unit 004, Atlanta Center 31 Annapolis St. RA No. 9510

Greenhills, San Juan City
4 Philippine International Convention Corporation PICCI BSP CCP Complex, Roxas Boulevard, Pasay City PD No. 520 as amended by PD No. 710

Inc.
5 Development Bank of the Philippines DBP - 7/F DBP Bldg., Sen. Gil J. Puyat Ave. RA No. 85

141
corner Makati Ave., Makati City

6 Al-Amanah Islamic Investment Bank of the AAIIBP DBP G/F Orient Mansion 118 Tordesillas St., RA No. 6848

Philippines Salcedo Village, Makati City
7 DBP Data Center Inc. DCI DBP 4/FDBP Bldg., Senator Gil J. Puyat Avenue DBP Board Resolution No. 3172 and
 corner Makati Avenue, Makati City SEC Registration No. 1077887
8 DBP Leasing Corporation DPBLC DBP 11th Floor NDC Bldg. 116 Tordesillas St., Corporate Law/SEC Registration No.

Salcedo Village, Makati City 128538
9 DBP Management Corporation DBPMC DBP 8th Floor DBP Bldg., Senator Gil J. Puyat DBP Board Resolution No. 3403/SEC
 Avenue corner Makati Avenue, Makati City Registration No. 102149
10 Land Bank of the Philippines LBP - Land Bank Plaza, 1598 M. H. del Pilar RA No. 3844

corner Dr. J. Quintos Sts., Malate, Manila
11 LBP Countryside Development Foundation Inc. LCDFI LBP 12/F SSHG Law Centre Bldg., 105 Paseo de Corporate Law/SEC Registration No.

Roxas St., Legaspi Village, Makati City 110790
12 LBP Resources and Development Corporation LBRDC LBP 24/F Land Bank Plaza, 1598 M. H.Del Pilar Corporate Law/SEC Registration No.
 corner Dr. J. Quintos Sts., Malate, Manila 61385
Annex A
Parent /
Non-
Entity
GBE
13 LBP Insurance Brokerage, Inc. LIBI LBP 12/F SSHG Law Centre Bldg., 105 Paseo de Corporate Law/SEC Registration No.

14 LBP Leasing and Finance Corporation LLFC LBP 15/F SSHG Law Centre Bldg., 105 Paseo de Corporate Law/SEC Registration No.

15 Masaganang Sakahan Inc. MSI LBP 6/F SSHG Law Centre Bldg., 105 Paseo de Corporate Law/SEC Registration No.

16 Northern Foods Corporation NFC NLDC One Corporate Plaza, Arnaiz Avenue, SEC Registered

Makati City
17 Philippine Deposit Insurance Corporation PDIC - PDIC Bldg., 2228 Chino Roces Ave., RA No. 3591

Makati City
18 Philippine Postal Savings Bank Inc. PPSBI PPC  Liwasang Bonifacio, Intramuros, Manila PPC Board Resolution No. 94-34
19 Millennium Challenge Account - Philippines Inc. MCA-P DBP  SEC Registered

142
1 AFP Retirement and Separation Benefits System AFPRSBS - 424 Capinpin Avenue, Camp Aguinaldo, PD No. 1656 & PD No. 1909

Quezon City
2 Employees' Compensation Commission ECC - ECC Bldg. 355 Sen. Gil Puyat Ave., Makati PD No. 626

City
3 Government Service Insurance System GSIS - Government Financial Center, Roxas RA 8291

Boulevard, Pasay City
4 Home Development Mutual Fund HDMF - JELP Bldg., 409 Addition Hills, Shaw Blvd., RA 9679

Mandaluyong City
5 Home Guarantee Corporation HGC - Jade Bldg., 335 Sen. Gil J. Puyat Ave., RA 8763

Makati City
6 National Home Mortgage Finance Corporation NHMFC - 104 3rd Floor, Filomena Bldg., Amorsolo PD No. 1267

St., Legaspi Vill., Makati City
7 National Housing Authority NHA -  Elliptical Road, Diliman, Quezon City PD 757 as amended EO 90 of 1986
8 Occupational Safety and Health Center OSHC - North Ave., cor. Agham Road, Diliman, EO No. 307

Quezon Ctiy
9 Palacio Del Gobernador Condominium PDGCC - Gen. Luna St., cor. Andres Soriano, Jr. Ave., Organized & Registered under SEC /
Corporation  Intramuros, Manila Structured & operated by Condominium
Act (RA 4726)
Annex A
Parent /
Non-
Entity
GBE
10 Small Business Guarantee and Finance SBGFC - 139 Corporate Center, 139 Valero St., RA 9501

Corporation Salcedo Vill., Makati City
11 Social Housing Finance Corporation SHFC NHMFC Banco De Oro Plaza, 8737 Paseo de Roxas, EO No. 272

Makati City
12 Social Security System SSS -  East Ave., Quezon City RA No. 8282
13 Southern Utilities Management and Services Inc. SUMSI AFPRSBS RSBS Blvd. Phase I, San Lorenzo Organized & Registered under SEC

Subdivision, Sta. Rosa, Laguna
14 Trade and Investment Development Corporation TIDCORP - 3/F Citibank Center, Citibank Plaza, 8741 PD No. 550 and PD No. 1080

of the Philippines Paseo de Roxas, Makati City
1 APO Production Unit, Inc. APO - E. De Los Santos Avenue, Diliman, 1100 LOI 197 of 1974 and RA 10149 of 2011

Quezon City
2 Cebu Ports Authority CPA -  North Reclamation Area, Cebu City 600 RA 7621
143
3 Light Rail Transit Authority LRTA - Administration Bldg., LRTA Compound, EO 603 as amended by EO 830 of 1982

Aurora Blvd., Pasay City and EO 210 of 1987
4 Local Water Utilities Administration LWUA - Katipunan Road, Balara, Quezon City PD 198 of 1973 as amended by PD 768

and PD 1479
5 Metropolitan Waterworks and Sewerage System MWSS - MWSS Bldg., Katipunan Road, Old Balara, RA 6234 o 1971 and RA 8041 of 1995

Quezon City
6 National Electrification Administration NEA - NIA Road, Government Center, Diliman, PD 269 of 1973

Quezon City
7 National Power Corporation NPC - Quezon Avenue cor. BIR Road, Diliman, CA 120 of 1936 as amended by RA 6395

1100 Quezon City
8 Philippine National Oil Company PNOC - PNOC Bldg. 6, Energy Center, Fort PD 334 of 1973

Bonifacio, Taguig City
9 PNOC Alternative Fuels Corporation PNOC-AFC PNOC 2263 La Panday Center, Pasong Tamo Corporation Law

Extension, Makati City
10 PNOC Development and Management PNOC-DMC - PNOC Bldg. 6, Energy Center, Fort Corporation Law

Corporation Bonifacio, Taguig City
11 PNOC Exploration Corporation PNOC-EC PNOC PNOC Bldg. 1, Energy Center, Fort Corporation Law

Annex A
Parent /
Non-
Entity
GBE
12 PNOC Renewables Corporation PNOC-RC PNOC PNOC Bldg. 1, Energy Center, Fort Corporation Law

13 PNOC Shipping and Transport Corporation PSTC PNOC S & L Bldg., 1500 Roxas Blvd., Ermita, Corporation Law

Manila
14 Philippine National Railways PNR -  PNR Executive Bldg., Tutuban, Manila RA 4156 and 6366; PD 741
15 Philippine Ports Authority PPA - A. Bonifacio Drive, South Harbor, Port PD 505 of 1974 as revised by PD 857 of

Area, Manila 1975
16 Philippine Postal Corporation PPC -  Liwasang Bonifacio, 1000 Manila RA 7354 of 1992
17 Power Sector Assets and Liabilities Management PSALM - 7/F Bankmer Bldg., 6756 Ayala Avenue, RA 9136

Corporation Makati City
18 National Transmission Corporation TransCo PSALM  Quezon Avenue cor. BIR Road, Diliman, RA 9136
1100 Quezon City
1 Aurora Pacific Economic Zone and Freeport APECO -  Casiguran, Aurora RA 10083 as amended by RA 9490
144
Authority
2 Authority of the Freeport Area of Bataan AFAB -  Mariveles, Bataan RA 9728
3 Bases Conversion and Development Authority BCDA - 2F Bonifacio Technology Center, 31st RA 7227 amended by RA 9717
 Street, Cresent Park West Bonifacio Global
City, Taguig City
4 BCDA Management and Holdings, Incorporated BMHI BCDA  2F Bonifacio Technology Center, 31st Corporation Law
Street, Cresent Park West Bonifacio Global
City, Taguig City
5 Clark Development Corporation CDC BCDA  Clark Special Economic Zone, Clark Field, Corporation Law
Angeles City, Pampanga
6 Clark International Airport Corporation CIAC BCDA  Corporate Office Bldg., Clark Freeport Corporation Law
Zone, Clark Field, Pampanga
7 John Hay Management Corporation JHMC BCDA  Camp John Hay, Baguio City Corporation Law
8 North Luzon Railways Corporation NORTHRAIL BCDA  MWSS Compound, Katipunan Road, Old Corporation Law
Balara, Quezon City
9 Poro Point Management Corporation PPMC BCDA  Pennsylvania Avenue, Poro Point, San Corporation Law
Fernando, La Union
Annex A
Parent /
Non-
Entity
GBE
10 Cagayan Economic Zone Authority CEZA -  7th Flr Westar Building, 611 Shaw Blvd., RA 7922
Pasig
11 Northeastern Luzon Pacific Coastal Service, Inc. NLPCSI -  7th Flr Westar Building, 611 Shaw Blvd., Corporation Law
Pasig
12 Civil Aviation Authority of the Philippines CAAP -  Old MIAA Road, Pasay City RA 9497
13 Laguna Lake Development Authority LLDA -  National Ecology Center, East Avenue, RA 4850 as amended by PD 813
14 Mactan-Cebu International Airport Authority MCIAA -  Diliman,
LapulapuQuezon City
City, Cebu of
RA1975 EO 927 of 1983
6958
15 Manila International Airport Authority MIAA - MIAA Administration Bldg., MIAA Road, EO 778 of 1982 as amended by EO 903

Pasay City and EO 909 both of 1983
16 Marawi Resort Hotels, Incorporated MRHI -  Marawi City Corporation Law
17 National Development Company NDC - #116 Tordesillas St., Salcedo Village, Legislative Act 2849 of 1919 as amended
 Makati City by CA Act 182 of 1936, as amended by
CA 311 of 1938; PD 1648 of 1979
145
18 Batangas Land Company, Incorporated BLCI NDC #116 Tordesillas St., Salcedo Village, Corporation Law

Makati City
19 First Cavite Industrial Estate, Incorporated FCIEI NDC #116 Tordesillas St., Salcedo Village, Corporation Law

Makati City
20 GY Realty Estate, Incorporated GYREI NDC #116 Tordesillas St., Salcedo Village, Corporation Law

Makati City
21 Inter-Island Gas Services, Incorporated IIGSI NDC #116 Tordesillas St., Salcedo Village, Corporation Law

Makati City
22 Kamayan Realty Corporation KRC NDC #116 Tordesillas St., Salcedo Village, Corporation Law

Makati City
23 Manila Gas Corporation MGC NDC #116 Tordesillas St., Salcedo Village, Corporation Law

Makati City
24 NDC-Philippine Infrastructure Corporation NPIC NDC #116 Tordesillas St., Salcedo Village, Corporation Law

Makati City
25 Pinagkaisa Realty Corporation PRC NDC #116 Tordesillas St., Salcedo Village, Corporation Law

Makati City
Annex A
Parent /
Non-
Entity
GBE
26 Partido Development Administration PDA - Caraycayon, Tigaon, Camarines Sur RA 7820 of 1994

27 Philippine Aerospace Development Corporation PADC - Hangar 2, General Aviation Area, Domestic PD 286 of 1973 as amended by PDs 346

Rd., Paranaque City of 1973 and 696 of 1975
28 Philippine Economic Zone Authority PEZA - Roxas Blvd. corner San Luis St., Pasay City RA 7916 of 1995 as amended by RA

8748
29 Philippine National Construction Corporation PNCC - Km. 15, East Service Road, Bicutan, LOI 1295 of 1983

Paranaque City
30 Alabang- Sto.Tomas Development, Incorporated ASDI PNCC Km. 15, East Service Road, Bicutan, Corporation Law

Paranaque City
31 CDCP Farms Corporation CDCP-FC PNCC Km. 15, East Service Road, Bicutan, Corporation Law

Paranaque City
32 DISC Contractors Builders and General Services, DISCCBGSI PNCC Km. 15, East Service Road, Bicutan, Corporation Law

Inc. Paranaque City
146
33 Philippine Reclamation Authority PRecA - 7/F Legaspi Towers 200 Bldg., 107 Paseo de PD 1084 of 1977
 Roxas St. Legaspi Village, 1226 City of
Makati
34 PEA Tollway Corporation PEATC PRecA Aguinaldo Blvd., Coastal Rd.,Paranaque Corporation Law
 City
35 PHIVIDEC Industrial Authority PIA - Municipalities of Togoloan and Villanueva, PD 538 as amended by PD1491; EO No.

Misamis Oriental 1031
36 Southern Philippines Development Authority SPDA - 4th Floor, Karpentrade Building, Km. 2 PD 690 of 1975 as amended by PD 1703

McArthur Highway, Matina, Davao City of 1980
37 Subic Bay Metropolitan Authority SBMA - SBMA Building 229, Subic Bay Freeport RA 7227

Zone, Olongapo City
38 Subic-Clark Alliance for Development SCAD - Ground Floor, Building 2127, CDC EO 504; AO 105 of 2006; Amended EO
 Corporate Headquarters, E. Quirino corner 504-A series of 2008
C. Garcia Streets, Clark Freeport Zone
39 Tourism Infrastructure and Enterprise Zone TIEZA - 142 Amorsolo Street, Legaspi Village, PD 189 amended under PD 564; Section

Authority Makati City 63 of RA 9593
40 Corregidor Foundation, Inc. CFI TIEZA 142 Amorsolo Street, Legaspi Village, Corporation Law

Makati City
Annex A
Parent /
Non-
Entity
GBE
41 Zamboanga City Special Economic Zone ZCSEZA - San Ramon, Zamboanga City RA 7903 of 1995

Authority
1 National Food Authority NFA - 5th Floor, SRA Building, North Avenue, PD No. 4 dated September 26, 1972 and
 Quezon City PD No. 1770 dated January 14, 1981
Subsidiary:
2 Food Terminal, Inc. FTI -  FTI Complex, Taguig City SEC Registration No. 35176 dated May 3,
1968, subsidiary of NFA by virtue of PD
No. 1770 dated January 14, 1981
3 National Irrigation Administration NIA - National Government Center, EDSA, RA No. 3601 dated June 22, 1963

Diliman, Quezon City
4 Philippine Coconut Authority PCA - PCA Building, Elliptical Road, Diliman, PD No. 232 dated June 30, 1973 as
 Quezon City amended by PD No. 1468 dated June 11,
1978
5 Sugar Regulatory Administration SRA - Sugar Center Building, North Avenue, EO No. 18 dated May 28, 1986
147
 Diliman, Quezon City

6 Philippine Sugar Corporation PHILSUCOR - Unit 1405-A, 14th Floor, Security Bank PD No. 1890 dated November 14, 1983

Centre, 6776 Ayala Avenue, Makati City
7 Philippine Fisheries Development Authority PFDA - PCA Annex Building, Elliptical Road, PD No. 977 dated August 11, 1976 as
 Diliman, Quezon City amended by EO No. 772 dated February
8, 1982
8 National Dairy Authority NDA - NDA Building, Bureau of Animal Industry RA No. 7884 dated March 12, 1995
 Compound, Visayas Avenue, Diliman,
Quezon City
9 National Tobacco Administration NTA - Scout Reyes Street corner Panay Avenue, EO No. 116 dated January 30, 1987 and
 Quezon City implemented by EO No. 245 dated July
24, 1987
10 Human Settlements Development Corporation HSDC - Unit 1405, West Tower, Philippine Stock PD No. 1396 dated June 2, 1978
 Exchange Centre, Exchange Road, Ortigas
Center, Pasig City
11 Natural Resources Development Corporation NRDC - 9th Floor, L & S Building, 1515 Roxas EO No. 786 dated March 19, 1982

Boulevard, Ermita, Manila
Annex A
Parent /
Non-
Entity
GBE
Subsidiaries:
12 Philippine Mining Development Corporation PMDC - Unit 3001B, West Tower, Philippine Stock SEC Registration No. CS200314923
 Exchange Centre, Exchange Road, Ortigas dated July 4, 2003
Center, Pasig City
13 Quedan and Rural Credit Guarantee Corporation QUEDANCOR - 34 Panay Avenue, Quezon City RA No. 7393 dated April 13, 1992

14 Philippine Crop Insurance Corporation PCIC - 7th Floor, NIA Building A, NIA Complex, PD No. 1467 dated June 11, 1978,
EDSA, Quezon City amended by PD No. 1733 dated October
 21, 1980 and EO No. 708 dated July 27,
1981, further amended by RA No. 8175
enacted on December 20, 1995
15 Philippine Rice Research Institute PRRI - Maligaya, Science City of Muñoz, Nueva EO No. 1061 dated November 5, 1985

Ecija
16 Bukidnon Forests, Incorporated BFI -  Malaybalay City, Bukidnon SEC Registered on October 7, 1992
148

1 Boy Scouts of the Philippines BSP - 181 Natividad Almeda-Lopez Street, Ermita, Commonwealth Act No. 111 dated
1000 Manila October 31, 1936 amended by
 Presidential Decree No. 460 and Republic
Act No. 7278 dated March 24, 1992
2 Center for International Trade Expositions and CITEM - ITC Complex, Roxas Blvd, cor Buendia St, EO Nos. 989 and 133 as amended by EO

Missions Pasay City No. 242, dated July 24, 1987
3 Cultural Center of the Philippines CCP - CCP Complex, Roxas Boulevard, Pasay City E.O. No. 30 year 1966

4 Development Academy of the Philippines DAP - San Miguel Avenue, Pasig City PD No. 205 dated June 7, 1973, amended
by PD No. 1061 dated December 9, 1976

and EO No. 288 signed on July 25, 1987
5 Duty Free Philippines Corporation DFPC - Fiesta Mall, EHA Building, Ninoy Aquino EO No. 46 dated September 4, 1986;
Ave, Parañaque City reorganized to DFPC under Section 89 of
 RA No. 9593 (Tourism Act of 2009)
dated 11/10/2009, attached to the
Department of Tourism
Annex A
Parent /
Non-
Entity
GBE
6 Lung Center of the Philippines LCP -  Quezon Avenue, Quezon City PD No. 1823 dated January 16, 1981
7 National Kidney and Transplant Institute NKTI -  East Avenue, Diliman, Quezon City PD No. 1832 dated January 16, 1981
8 Nayong Pilipino Foundation NPF -  Orchidarium, Rizal Park, Manila PD 37 dated November 6, 1972
9 Intercontinental Broadcasting Corporation IBC 13 - Broadcast City, Capitol Hills, Diliman, SEC Registration No. 4118 dated May 11,
Quezon City 1970. EO No. 11 dated April 8, 1986
created a Board of Administrators to
 manage and operate the business and
affairs of IBC and have the custody of
their funds and assets subject to the
supervision and control of the PCGG
10 Philippine Center for Economic Development PCED - UP - School of Economics, Diliman PD No. 453 dated May 13, 1974

Campus, Quezon City
11 Philippine Amusement and Gaming Corporation PAGCOR - PAGCOR Corporate Office, Hyatt Hotel and PD 1067-A dated January 1, 1977,
Casino Manila, M.H. del Pilar cor. Pedro Gil amended by PD Nos. 1067-B, 1067-C,
149
 Street, Malate, Manila 1399 and 1632 which were subsequently

consolidated into one statute, PD 1869
dated July 11, 1983
12 Philippine Charity Sweepstakes Office PCSO - Conservatory Building, Shaw Blvd, Philippine Legislature Act No. 4130 on
Mandaluyong City October 30, 1934 and later amended by

R.A. No. 1169 in 1954 and Batas
Pambansa Blg. 42 on Sept. 24, 1979
13 Philippine Children's Medical Center PCMC -  Quezon Avenue, Quezon City PD No. 1631 dated August 10, 1979
14 Philippine Heart Center PHC -  East Avenue, Diliman, Quezon City PD No. 673 dated March 19, 1975
15 Philippine Health Insurance Coporation PHIC - 18th Floor, City State Centre, 709 Shaw RA 9241 dated February10, 2004
 Blvd, Brgy. Orambo, Pasig City
16 Philippine Institute for Development Studies PIDS - 18th Floor, Three Cyberpod Centris-North PD 1201 dated September 1977
 Tower, EDSA corner Quezon Avenue,
Quezon City
17 Philippine Institute of Traditional and Alternative PITAHC - East Avenue, Diliman, Quezon City RA No. 8423 dated July 29, 1997

Health Care
Annex A
Parent /
Non-
Entity
GBE
18 Philippine International Trading Corporation PITC - 5th Flr NDC Bldg, Tordesillas St, Salcedo PD No. 252 dated July 21, 1973 as
 Village, Makati City amended by PD No. 1071 on January 25,
1977
19 Philippine Pharma Procurement, Inc PPPI - 2nd Flr NDC Bldg, 116 Tordesillas St, SEC Registration No. 99913 dated
 Salcedo Village, Makati City November 9, 2006
20 People's Television Network, Inc. PTNI -  Visayas Avenue, Quezon City RA No. 7306 dated March 26, 1992
21 Philippine Retirement Authority PRA - 29th Floor, Citibank Tower, 8741 Paseo de EO No. 1037 dated July 4, 1985
 Roxas, Makati City
22 Tourism Promotions Board TPB - 4th Flr, Legaspi Towers , 300 Roxas Blvd, PD No. 867 and PD No. 1448,
cor P. Ocampo, Malate, Manila reorganized to TPB, attached to the
Department of Tourism for policy and

program coordination under RA No. 9593
(Tourism Act of 2009) dated 11/10/2009
150
23 Veterans Federation of the Philippines VFP -  Arroceros, Manila RA No. 2640, 1968
Annex B
Summary of Functions of Government Corporations
This Cluster has auditorial jurisdiction over GOCCs in the banking and credit, and other
related classifications. In general, the functions of these GOCCs include the following:
 Formulate and implement policies in the areas of money, banking and credit with the
primary objective of maintaining stable prices conducive to balanced and sustainable
economic growth in the Philippines; maintain the country’s international reserves,
perform credit operations, engage in open market operations, exercise supervision
over banking institutions, operate the interbank real-time gross settlement system,
act as a banker of the government, and has the sole power and authority to issue
currency;
 Print bank notes and produce circulation coins;
 Retain and administer, dispose of and liquidate the assets and liabilities of the then
Central Bank of the Philippines not transferred to or assumed by the Bangko Sentral
Ng Pilipinas;
 Receive and consolidate basic credit data, to act as central registry or central
repository of credit information or credit history and financial condition of
borrowers;
 Undertake the management, operation and administration of the PICC for use in the
holding of international conferences, conventions, meetings, seminars and the like,
including but not limited to, special events, professional exhibitions and trade
shows, and other special services as may be required by the users thereof;
 Provide banking services principally to cater to the medium and long-term financial
needs of agricultural and industrial enterprises particularly in the countryside with
emphasis on small and medium-scale industries;
 Provide financial assistance to participating financial institutions for on-lending to

investment enterprises and also direct to borrowers as may be required by its
catalytic role in the economy;
 Engage in other activities including investments in government and private financial

institutions;
 Promote and accelerate the socio-economic development of the Autonomous Region

by performing banking, financing and investment operations and establish and
participate in agricultural, commercial and industrial ventures based on the Islamic
concept of banking;
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Annex B
 Develop and implement non-banking systems for private and government entities;
 Purchase or dispose of real and personal property of every kind and description,
including shares of stocks, bonds, debentures, notes, evidences of indebtedness, and
other securities or obligations of any corporation or association and manage the
general business of any company;
 Engage in the business of leasing in all its aspect, and to arrange or underwrite or
administer leases of all types of real or personal properties and all kinds of
equipment, machines, vehicles, and facilities, especially maritime vessels for the
carriage of passengers, freight, cargo, vehicles, goods and merchandise of every
kind and description;
 Engage in project based lending programs providing loanable funds to accredited

participating financial institutions (PFI) for re-lending in Philippine Currency to
eligible micro, small and medium investment enterprises (MSMEs) and viable
privately- owned productive enterprise except those engaged in basic agricultural
production without post-harvest production activities and at least 60 per cent owned
by Filipino;
 Engage/act as financial intermediary of the Land Reform Program of the

government;
 Engage in the business of banking, financing, leasing, real estate, insurance

brokering and other related services to personal, commercial, corporate and
institutional clients;
 Assist in countryside development and extend assistance to farmers and fisherfolks,

Agrarian Reform beneficiaries (ARBs) Countryside financial Institutions, small and
medium enterprise and Overseas Filipino Workers (OFWs);
 Engage in the business of general insurance brokerage management and consultancy

services in insurance-related activities;
 Engage in the business of buying and selling of foreign currencies; and buying,
selling, importing, exporting and/or dealing in any manner, at wholesale or retail,
goods and merchandise;
 Engage in direct lease or financial lease of all kinds of equipment, machineries,

vehicles, facilities, appliances and all types of personal and real properties;
 Engage in the business of financing merchandise particularly but not limited to

appliance, automobile, and truck retail sales, agricultural machinery and equipment
and to engage in the business of commercial, agricultural and industrial financing,
factoring and/or leasing in all various forms, within and without the Republic of the
Philippines;
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Annex B
 Extend credit facilities for and otherwise assist in the establishment, operation,
development, expansion and/or reorganization of industrial, commercial, agricultural
and other productive or profitable enterprises and to make loans without security
within the limits allowed by law;
 Engage in the building, reconstructing, repair, remodelling and renovation, alteration

and improvement of private houses and dwellings, commercial buildings and
government owned and controlled corporations and establishments in support of its
role under the Comprehensive Agrarian Reform Program;
 Engage in, operate and carry on, the business of providing and rendering general
manpower services, such as but not limited to management and technical services,
janitorial services, maintenance services, clerical messengerial, security services
and other allied services;
 Engage in and carry on the business of purchase and acquire, operate, maintain,
lease, sell and dispose of and deal in agricultural equipment and farm machineries
and all other articles pertaining to agriculture;
 Make available its farm equipment and machineries to the farmers, owner-
cultivators, agricultural lessees, tillers and/or other beneficiaries of land reform for
farm mechanization and development so as to obtain full utilization of lands and
enhancement of agricultural products;
 Engage in the business of purchase and sale, barter and exchange of rice and other
cereal and commodities of native production in the Philippines;
 Undertake the promotion, generation and development of livelihood and

community-based enterprises primarily in agri-business, including those in the
Agrarian Reform Communities that will cater to the low-income bracket;
 Engage in the business of wholesale financing serving the financial needs for the
livelihood and income-generating activities of the Filipino poor primarily those
falling below the poverty level;
 Promote and safeguard the interests of the depositing public by way of providing
permanent and continuing insurance coverage on all insured deposits;
 Strengthen the mandatory deposit insurance coverage system to generate, preserve,

maintain faith and confidence in the country’s banking system, and protect it from
illegal schemes and machinations;
 Act as receiver/liquidator of closed banks and co-regulator of banks, in which it

collaborates with the BSP in promoting stability in the banking system and the
economy as a whole; and
 Mobilize savings and promote entrepreneurship to widen economic opportunities

and to provide the Filipino people with a full range of professional banking and
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Annex B
financial resources accessible in all areas of the country, and promote the values of
thrift, industry and prudence especially in the youth;
This Cluster has auditorial jurisdiction over GOCCs in financing, insurance and other
related sectoral classifications. In general, the functions of these GOCCs include the
following:
 A funding mechanism to ensure the continuous payment of retirement and

separation benefits due to the members of the Armed Forces of the Philippines;
engage in various business operations to include the management of funds invested
in the stock market money market, treasury bills government and corporate bonds,
corporate loans, consumer/member loans, real estate properties, and equity holdings
in subsidiaries and affiliates (AFPRSBS);
 Provide meaningful and appropriate compensation to workers and their dependents

in the event of work-connected contingencies such as sickness, injury, disability or
death; restore dignity and self-esteem among occupationally disabled workers; and
safeguard the integrity of the State Insurance Fund (SIF) (ECC);
 Provide and administer the social security benefits for all employees of the
Philippine government; administer the Optional Life Insurance Fund, Pre-Need
Fund, Employees’ Compensation Insurance Fund and the General Insurance Fund
and provide insurance coverage to assets and properties that have government
insurable interests (GSIS);
 Manage, improve, develop, dispose, exchange, lease and hold for investment or
otherwise, the acquired assets which consists of properties of all kinds including
buildings, houses, apartments and other structures (GSIS);
 To generate more savings from more Filipino workers, to administer a sustainable

fund with integrity, sound financial principles, and with social responsibility and to
provide accessible fund for housing of every member. Answer the need for a
national savings program and an affordable shelter financing for the Filipino
workers (HDMF);
 Acquire, purchase, own, hold, manage, administer, operate, develop, lease, pledge,
mortgage, exchange, sell, transfer or otherwise dispose of, in any manner permitted
by law, real and personal property with every kind and description, monies and
funds, or any interests therein as may be necessary to carry out the purposes and
objectives of the Corporation which has a mandate to operate a credit guaranty
program in support of government’s effort to promote home ownership; provide risk
guarantees and fiscal incentives for housing credits extended by financing
institutions, thereby stimulating the flow of funds from both the government and
private sectors for housing and urban development (HGC);
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Annex B
 Develop housing projects which provide and maintain adequate housing for the
greatest possible number of people by developing and implementing a
comprehensive and integrated housing and resettlement program (NHA);
 Develop and provide for a secondary market for home mortgages granted by public
and/or private home financing institutions; to develop a system that will attract
private institutional funds into long-term housing mortgages; and to provide
amortization support to borrowers during the first five years of the term of their
housing loans under the Abot-kaya Pabahay Fund (AKPF) (NHMFC);
 Undertake continuing studies and researches on occupational safety and health; plan
develop and implement training programs; serve as duly recognized agency for
testing and setting standard and specifications of personal protective equipment and
other safety devices; monitor work environment by use of industrial hygiene, field
and laboratory equipment; conduct medical examinations to workers exposed to
hazardous substances and detection of occupational diseases; assist the government
agencies and institutions to formulate policies and standards and issue technical
guidelines for the prevention of occupational safety and health on diseases and
accidents (OSHC);
 An entity that supports the colonial renaissance of Intramuros and sets a standard of
excellence in building management, to maintain and enhance the facilities of Palacio
Del Gobernador as a significant architectural landmark, to provide high quality
services that ensure clean, safe and secure building environment. Managing and
holding title to the common areas of the eight-storey building
condominium(PDGCC);
 Implement comprehensive policies and programs to assist Micro, Small and

Medium Enterprises in all areas, including but not limited to finance and
information services, training and marketing (SBGFC);
 Undertake financing of social housing programs that will cater to the formal and
informal sectors in the low-income bracket and shall take charge of developing and
administering social housing program schemes with the Community Mortgage
Program (CMP) and the Amortization Support and Developmental Financing
Programs of the AKPF and other social housing program of the NHMFC (SHFC);
 Administers social security protection to workers in the private sector which will
provide replacement income for workers in times of death, disability, sickness,
maternity and old age (SSS);
 To own, operate, maintain and manage water utilities including but not limited to
water distribution, deep well servicing, repair or rehabilitation of water systems and
operations of water refilling station/s; and to acquire, sell, lease, convey, mortgage
or encumber, and otherwise deal with any property or interest therein, or easement,
right or privilege over or in respect of any property, real or personal, as may be
permitted by law, also engaged in the ground maintenance services; and as may be
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Annex B
reasonably necessary to enable it to carry out the purposes for which the corporation
is created as may now be allowed by law (SUMSI); and
 Contribute to the country’s economic development as the Philippine Export-Import

Credit Agency providing guarantees, credits, insurance and technical assistance
services; promote and facilitate the entry of foreign loans into the country for the
development purposes having special regard to the needs of export-oriented
industries, industries which are registered with the Board of Investments, public
utilities and industries by which is encouraged by government policy; facilitate and
assists in the implementation of approved service contracts abroad entered into by
Philippine entities with foreign exchange earning potentials and provide technical
assistance in the preparation, financing and execution of development including the
formulation of specific project proposals, and implementation of actions that is
consistent with the primary purposes of the Corporation. (TIDCORP).
This Cluster has audit jurisdiction over GOCCs which are classified as public utilities with
the following functions:
 Handle the printing of accountable forms and sensitive high quality/volume printing
jobs of the Philippine government agencies and offices (APO);
 Construct, operate, maintain and/or lease the light rail transit systems in the country
(LRTA);
 Promote, finance, and oversee the development of water supply systems in

provincial cities and municipalities outside of Metropolitan Manila (LWUA);
 Develop, operate and maintain waterworks, sewerage and irrigation systems to

ensure continuous supply and distribution of potable water in all the cities and
municipality of Metro Manila and some municipalities of Bulacan, Cavite and Rizal
(MWSS);
 Provide sustainable development in rural areas through rural electrification (NEA);
 To perform the missionary electrification function, through the Small Power

Utilities Group (SPUG), watershed management and the operation and maintenance
of all undisposed generation assets. (NPC);
 Explore, develop and accelerate the utilization and commercialization of existing

and emerging alternative sources of energy and technologies (PAFC);
 Acquire real property and buildings for investment incidental to the Corporation's
business (PDMC);
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Annex B
 Provide and maintain an adequate and stable supply of oil and petroleum products
for domestic requirement and engages in the exploration, exploitation and
development operations of other energy sources such as gas, coal, and geothermal
(PNOC);
 Lead in the exploration, development and production of the country's oil, gas and
coal resources (PNOC EC);
 Pursue and implement projects on new, renewable, non-conventional, and

environment-friendly energy sources and systems to ensure the country's self-
sufficiency in energy, foster allied activities of national interest for sustained
economic growth and for better quality of life (PNOC RC);
 To provide safe, reliable and affordable railway services as socio-economic

development tool within the framework of the national infrastructure system, while
ensuring sustainable operations so that optimum service can be rendered at a
minimum passenger and freight prices (PNR);
 Establish, develop, regulate, manage and operate a national port system in support of
trade and development (PPA);
 Plan, develop, promote and operate a nationwide and universal postal system in the
country (PPC);
 Manage the sale and privatization of the NPC assets and IPP contracts and the
liquidation of NPC debts and stranded contract costs (PSALM);
 Engage in, conduct, manage and carry on the business of shipping, tankering,
lighterage, barging, towing, transport and shipment of goods, chattels, petroleum
and other products (PSTC);
 Ensure the compliance of the National Grid Corporation of the Philippines (NGCP)
with the Concession Agreement and policies of the Department of Energy (DOE)
consequent to the privatization of its transmission business (TransCo);
 Levy dues and impose rates and charges for the use of the premises, works,
appliances, facilities or for services provided by or belonging to the Authority, or
any other organization concerned with port operations, integrate and coordinate the
planning, development, construction and operations of ports and port facilities
within its territorial jurisdiction, consistent with the needs and requirements of the
region and to enhance the flow of international and domestic commerce passing
through or utilizing the regional ports (CPA- Region 7); and
 Mandated to entering into contracts for the building, equipping, operating and
maintenance of any railroad authorized by the Philippine government particularly in
Panay (PRI).
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Annex B
This Cluster consists of GOCCs in industrial, area development and others that fall under
the classification, with the following functions:
 Identify and develop sites in the country as prospective industrial areas and equip
these areas with the necessary infrastructures to encourage the inflow of domestic
and foreign investments;
 Develop certain areas declared as special economic zones into self-sustaining

industrial, commercial, financial, investment and academe centers to generate
employment opportunities in and around the zones and to attract and promote
productive foreign investments;
 Convert into alternative productive uses the Clark and Subic military reservations
and extensions, raise funds by the sale of portions of Metro Manila military camps,
apply said funds for the development and conversion to productive civilian use of
the lands covered under the 1947 Military Bases Agreement and promote the
economic and social development of Central Luzon in particular and the country in
general;
 Convert underutilized land into valuable and income-generating real estate

properties;
 Support and develop tourism as an instrument in accelerating the development of the

country by preserving and projecting the country’s culture, history, tradition and
natural beauty, both internationally and domestically;
 Integrate and coordinate the planning, development, construction, and operation of

airports, and other facilities appurtenant thereto and provide safe and efficient air
transport and regulatory services in the Philippines; and
 Invest in pioneering and development-oriented projects where private investors are

unwilling or unable to venture into but are necessary for the country’s development.
This Cluster has auditorial jurisdiction over GOCCs with operations pertaining to
agricultural and natural resources. In general, the functions of these GOCCs include the
following:
 Promote the integrated growth and development of the grains industry covering rice,
corn, feed grains and other grains like sorghum, mongo, and peanut to provide food
security in the staple cereals in times and places of calamity or emergency, both
natural or man-made and to promote the stabilization of supply and prices of staple
cereals both at the farm gate and consumer levels (NFA);
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Annex B
 Provide prime location, quality facilities and services for businesses and to be a
strategic partner of the business sector by creating a conducive business
environment (FTI);
 Develop, maintain, operate, improve and rehabilitate irrigation systems including

communal and pump irrigation projects (NIA);
 Promote the rapid integrated development and growth of the coconut and other palm
oil industry in all its aspects and to ensure that the coconut farmers become direct
participants in, and beneficiaries of, such development and growth (PCA);
 Exercise supervision over the growth and development of the sugar industry through
greater and significant participation of the private sector and the improvement of the
working conditions of the sugar workers (SRA);
 Provide financing in the acquisition, rehabilitation and/or expansion of sugar mills,

refineries and other related facilities (PHILSUCOR);
 Promote the development of the fishing industry and improve the efficiency in
marketing and distribution of fish and fishery/aquatic products through the
establishment and operation of fish port complexes throughout the country (PFDA);
 Ensure the accelerated development of the Philippine dairy industry (NDA);
 Improve the economic and living conditions and raise the quality of life of the
tobacco farmers including those who depend upon the industry for their livelihood;
and promote the balanced and integrated growth and development of the tobacco
industry to help make agriculture a solid base for industrialization (NTA);
 Operate and manage the Maharlika Livelihood Complex (HSDC);
 Conduct and carry on the business of exploring, developing, mining, concentrating,

converting, smelting, treating and otherwise developing, producing and dealing in
gold, silver, copper, iron and any and all kinds of minerals, mineral deposits,
substances and mineral resources (PMDC);
 Promote and undertake the development and use of technologies and systems that
complement the utilization of natural resources (NRDC);
 Provide insurance protection to the country’s agricultural producers, particularly the

subsistence farmers, against losses of their crops and non-crop agricultural assets
arising from natural calamities (such as typhoons, floods, droughts, earthquakes and
volcanic eruptions), plant pest and diseases, and/or other perils (PCIC);
 Accelerate the flow of investments and credit resources into the countryside so as to
trigger growth and development, rural productivity and enterprises thereby
generating more livelihood and income opportunities to farmers, fisherfolks, and
other rural entrepreneurs (QUEDANCOR);
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Annex B
 Serve as the coordinating center of a national network of rice research stations

located in the different agro-ecological regions of the country; plan and carry out
research and development activities, specifically in the areas of varietal
improvement, planting and fertilizer management, integrated pest management, farm
mechanization and post-harvest engineering, farming systems, training and
technology transfer, and social science and policy research; verify, package and
transfer economically viable technologies, giving emphasis on the social engineering
aspects necessary for group endeavor; provide the data base or policy formulation
that will stimulate and sustain rice production, marketing, and consumption;
organize and develop strong training programs for rice scientists, research managers,
and extension workers; and publish and disseminate research findings and
recommendations (PRRI-Region III); and
 Establish a commercially sustainable forest plantation in Bukidnon to serve as a

model for private sector forestry, capable of replication elsewhere in the Philippines
(BFI-Region X).
This cluster has auditorial supervision and jurisdiction over GOCCs with operations
pertaining to social, cultural trading, promotional and other services. In general, the
functions of these GOCCs include the following:
 Provision of research, training and health care benefits, medical assistance, services
and charities of national character (PCSO);
 Centralization and integration of the right and authority to operate and conduct
games of chance in corporate entities to be controlled, administered and supervised
by the government
(PAGCOR);
 Provision of quality health care through excellent service, training and research and
end referral center for the diagnostic treatment and rehabilitation of lung and chest
diseases (LCP);
 Prevention, diagnosis, rehabilitation and treatment of kidney and allied diseases

through dialysis and transplantation (NKTI);
 Provision of medical services for the treatment and prevention of pediatric diseases
(PCMC);
 Provision of cardiovascular care and management by being a center of world-class

facilities, expert health providers committed to patient care, education, research and
information dissemination (PHC)
 Promotion through organization and cooperation with other agencies, the ability of
boys to do things for themselves and others, to train in scout craft and to teach
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Annex B
them patriotism, courage, self-reliance, kindred virtues, using the methods which are
in common use by Boy Scout (BSOP);
 Promotion of the Philippines as a retirement haven providing the best quality of life
of targeted retirees, accelerate the social-economic development of the country and
strengthen its foreign exchange position (PRA);
 Unification of veterans throughout the country, provision of health care,

standardizing and upgrading the benefits of military veterans and their dependents,
sought membership with the Veterans Confederation of ASEAN countries (VFP);
 Establishment of micro, small and medium scale enterprises, trade fairs, special
exhibits, trade missions and other promotional activities here and abroad (CITEM);
 Operation of the duty and tax-free merchandising system in the Philippine to

augment the service facilities for tourists and to generate foreign exchange and
revenue for the government (DFPC);
 Promotion of Philippine art and Culture (NPF);
 Provision of international trading and trade related activities, special trading

arrangements, importation and bulk procurement of commodities and industrial
products, cargo consolidation, shipping, bonded warehousing, foreign and domestic
procurement and outsourcing services, strategic marketing and joint-venture (PITC);
 Extension of financial assistance to a pharmaceutical firm engaged in the business of

research, development, production, manufacture, packaging, sale and/or distribution
of pharmaceutical products and/or investment and/or management of
investment in pharmaceuticals and related commercial venture (PPPI);
 Promotion of Philippines domestically and internationally as a major global tourists

destination (TPB);
 Provision to all citizens of the Philippines with a mechanism to gain financial access
to health services and to prioritize and accelerate the provision of health services to
all Filipinos especially the segment of the population who cannot afford such
services (PHIC);
 Provision of performance and exhibition venues for various local and international
productions, performances festivals, exhibitions, cultural research, outreach,
preservation, publication of materials on Philippine art and culture (CCP);
 Development of selective human resource programs, data collection and information

services (DAP);
 Provision of media of mass communication such radio, television and/or

telecommunication stations and commercial or sustaining basis and to deal in the
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Annex B
manufacture and distribution of radio, television and other electronic components

and part thereof (IBC 13);
 Provision of broadcast support to the government (PTNI);
 Provision of financial and moral support to the research, teaching, training and other
programs of the School of Economics of UP (PCED);
 Provision of assistance to the government planners and policy-makers in its planning

and policy formulation activities (PIDS); and
 Provision of safe, effective and affordable traditional and alternative health care
products, services and technology (PITAHC)
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Annex C
Summary of Accomplishments of Selected Government Corporations

For Calendar Year 2017
Bangko Sentral Ng Pilipinas (BSP)
The following are the significant events for CY 2017 which the Monetary Board approved
on:
1. 12 January 2017, the grant of authority to the BSP to enter into a five-year contract
with the winning vendor for the supply, implementation, post implementation
support, and maintenance of Portfolio Management System, subject to Republic Act
No. 9184 and its Revised Implementing Rules and Regulations, as well as Budget
Administration Guidelines and Policies.
2. 2 February 2017, the award to Trend and Technologies Inc. the contract for one lot -
BSP 2016 LAN Enhancement Project consisting of supply, delivery, installation,
configuration, testing and commissioning of network intrusion prevention system,
aggregation service routers, network switches, new licenses for Nexus 7010 core
switches, network UPS and IP phones, as per BSP terms and references and service
level agreement, in the total amount of PHP75.369 million, value added tax inclusive.
3. 9 March 2017, the release to the Armed Forces of the Philippines, USD1.697 million
representing the total interest income earned from the Central Bank of the
Philippines-AFP-Foreign Military Sales Principal Account.
4. 16 March 2017, the institutionalization of the Severance Package for Personnel

Affected by Reorganizations under the Organizational Development based Severance
Category of the Integrated BSP Employee Severance Program.
5. 1 June 2017, the award to Automation Specialists and Power Exponents Inc. of the
contract for one lot - Service Desk Management and Personal Computer Maintenance
Services for the BSP Head Office, SPC, and Regional Offices and Branches, as per
BSP terms of reference, in the total amount of PHP67.480 million, inclusive of value
added tax, for three years.
6. 29 June 2017, the compromise settlement of the BSP' tax cases pending before the
Court of Tax Appeals covering the Taxable Years 2009 and 2010.
7. 14 September 2017, the award to Grabener Pressensysteme GmbH & Co. KG through
Machine banks Corporation of the contracts for the supply and delivery of spare parts
for 19 units of Grabener MPU 106 coin press, as per BSP technical specifications, in
the total amount of EUR1.200 million, CPT, Manila.
8. 22 September 2017, the award to Muhlbauer Gmbh and Co., KG, through Solid
Business Machines Center, Inc., the contract for one lot - supply, delivery, installation
and commissioning of one banknote sheet inspection machine, including supply and
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Annex C
delivery of consumables for 18 months feedstock and wear and tear spare parts
sufficient for the inspection of 46.8 million banknote sheets, as per BSP technical
specifications and terms of reference, in the total amount of USD3.484 million,
Delivered at Place, BSP-SPC.
9. 28 September 2017, the award to Philcare Manpower Services of the contract for one
lot - supply of manpower, tools, equipment, supplies, materials and supervision for
janitorial, sanitation, hauling and other related services for the BSP SPC in the total
contract amount of PHP77.678 million inclusive of value added tax for three years.
10. 5 October 2017, the award to Royal Canadian Mint through FMC Research Solutions,
Inc. of the contract for the supply and delivery of 3,172 metric tons 1-Piso New
Generation Currency (NGC) coin metals as per BSP technical specifications in the
total amount of USD13.289 million, Delivered at Place, BSP-SPC.
11. 26 October 2017, the award to Surys, through FMC Research Solutions, Inc. of the
contract for one lot - supply and delivery of Optically Variable Device Patch, as per
BSP technical specifications and terms of conditions, in the total amount of
EUR18.155 million, delivered at Place, BSP-SPC.
12. 28 December 2017, the award to Teer Coatings Limited through Nicklaus Machinery
Corporation the contract for one lot - supply, delivery, installation and commissioning
of Physical Vapor Deposition coating machine including ancillary equipment, and
supply and delivery of consumables and wear and tear parts sufficient for 500 coating
cycles, as per BSP technical specifications and terms of reference, in the total contract
amount of USD1.500 million, Cost and Freight, Manila.
DBP Data Center, Incorporated (DCI)
DBP Data Center, Inc. (DCI) has been continuously supporting DBP’s Information
Technology infrastructure for the past 35 years. In 2017, DCI continued to focus
primarily on assisting the Bank’s initiatives on various bank products by providing the
workforce for the development and maintenance of the Bank’s systems and applications.
Further, DCI also started to seek opportunities to increase revenues by expanding its
customer base to include government agencies and instrumentalities via an Agency-to-
Agency Agreements.
Aligned with DCI’s strategic plan, DCI pursues an aggressive business plan to deliver
high-quality services, build an excellent team, and capture competitive market share in
the industry.
Below are some of DCI’s notable accomplishments in 2017.
1. DBP Opportunities
1.1. DBP IT Staffing - Among DCI’s core competencies is identifying the right
people suitable for augmenting the IT staffing needs of the Bank. As of
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Annex C
December 31, 2017, DCI has a total of 55 strong workforce working closely
with the Bank’s IT requirements.
2. Non-DBP Opportunities
The DCI has started opportunities and negotiations on non-DBP projects focusing on
government agencies and instrumentalities such as:
2.1. Zamboanga Del Norte Medical Center – DCI provides Hospital Information
System (on-going project) with five year contract for the LGU hospitals.
2.2. Jose B. Lingad Memorial Regional Hospital – DCI offered the HIS BPO project
with a contract of five (5) years. Live-Production started in July 14, 2016.
Implementing changes to hospital processes and workflows and monitoring
End-User compliance to ensure smooth operations and correctness of data
gathered by the system.
2.3. Cooperative Development Authority (CDA) – This project involves the software
development of the Cooperative Member Registry System. Cooperatives would
be able to upload and update cooperative members to this facility provided by
CDA. Project is now ready for implementation in Production environment.
Preparing Database upload from 7 Pilot Cooperative members (CM) before roll-
out to 60 CMs. Mobile application is now activated and provides payment
services to CMs.
2.4. Philippine Economic Zone Authority (PEZA) – A system development project

composed of three modules. It is an enhancement of their existing Billing and
Collection System, Electronic Application for Registration System (EARS) and
Engineering Permit Application Monitoring System (EPAMS).
2.5. PNP Online Police Clearance (Cebu City) – An Online Application for
Philippine National Police (PNP) Clearance project which was piloted in Cebu
City. A system provided to PNP Cebu City at no cost to the agency through a
servicing partner that DCI engaged via Direct Contracting. It is part of the
PNP’s National Police Clearance Project implemented in Q1 of 2017.
2.6. Professional Regulations Commission – An Online Payment and Collection

System (EPCS) related to professional licenses.
2.7. Bangko Sentral ng Pilipinas – An engagement that entails supply, delivery,

installation, configuration, testing and implementation of Human Resource
Information System (HRIS). The project is for a maximum period of one year
that started in January 2017.
2.8. Bureau of the Treasury – Consulting services to enhance IT infrastructure and

strengthen ICR capacity project. The project aims to address BTr’s IT
requirements and gaps to effectively and efficiently support enhancement of its
Information Management Infrastructure (IMI), address critical requirements in
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Application Systems Deployment, assist in the formulation of its Information

Systems Strategic Plan (ISSP), and develop and implement a Backup and
Disaster Recovery framework.
3. Compliance with COA Circular No. 2016-006
DBP-DCI has complied with the implementation of COA Circular No. 2016-006, the
Revised Chart of Accounts.
Northern Foods Corporation (NFC)
The NFC derives its income mainly from sale of tomato paste. In addition, NFC sells
tomato seeds at a higher price to farmers who are not contract growers. Moreover, sale of
unrefurbishable drums and pallets are sources of income, too. The plans and targets vis-à-
vis accomplishments of NFC for the Fiscal Year 2017, which were validated by the Audit
Team, are as follows:
Performance Accomplishment
Activities Indicator Target Quantity %
1. Land Campaign Production Area 813 hectares 737 91%
2. Fruit Production Fruit Volume heehhhhectares
29,240 tons 25,085 86%
3. Tomato Paste Tomato Paste Vol. hectares
4,300 tons 3,700.38 86%
Production
4. Sales Volume 3,572 tons 2,901.89 88%
Paste Prod’n.
Cluster 2 – Social Security Services and Housing
National Housing Authority
The summary of the 2017 Corporate Performance along the Key Result Areas (KRAs) of
the Authority against CY 2016 performance levels is shown below:
Table 1: Summary of 2017 Performance
2017 2016
% to % to
Key Result Areas Target Accomplishment Target Target Accomplishment Target
(1) (2) (3=2/1) (4) (5) (6=5/4)
HOUSING
PRODUCTION/
ASSISTANCE
Housing Starts 105,921 54,029 51 167,102 72,428 43
Housing Completions 112,695 82,883 74 163,262 94,895 58
New Works 10,258 28,872 281 50,965 45,783 90
Carry Over Works 102,437 54,011 53 112,297 49,112 44
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2017 2016
% to % to
Key Result Areas Target Accomplishment Target Target Accomplishment Target
(1) (2) (3=2/1) (4) (5) (6=5/4)
SALES AND
DISPOSITION
Units 56,838 19,720 35 77,734 33,173 43
Sales Value (₱'B) 7.212 1.632 23 19.559 5.462 28
COLLECTION (₱'B) 2.091 2.383 114 3.590 3.369 94
The accomplishment of 54,029 units consisted of untargeted Housing Materials

Assistance (HOMA) of 27,490 units (51%) mostly for victims of Typhoon Nona in the
Southern Luzon and Bicol region and Typhoon Lawin in the Northern and Central Luzon
region. The remaining 49% (26,539 units) were housing units which accomplished 25%
of target. The transitional housing for victims of Marawi conflict though
unprogrammed demonstrated NHA’s readiness to respond to victims of calamities.
The accomplishment of 82,883 units consisted of 67% housing units (55,393 units) which
registered a 49% performance level, and 33% (27,490 units) HOMA mostly for victims of
Typhoon Nona and Typhoon Lawin. The accomplishment under housing units includes
533 units transitional housing for victims of Marawi conflict.
Cluster 3 – Public Utilities
Local Water Utilities Administration
In 2017, LWUA contributed to the achievement of the national goal of providing access to
safe water supply to 95% of the households by year 2022 through the following:
1. Provision of Loans to Water Districts
During the period, a total P438 million was provided to 123 Water Districts
nationwide in the form of loans for the improvement of water supply systems.
2. Implementation of Water Supply System Projects
LWUA completed a total of forty-three (43) water supply projects nationwide with a
combined cost of P 371 million. This represents 60% of the targeted 72 projects for
completion in 2017. Moreover, 50 water supply projects are still ongoing as of year-
end.
During the year, a total of 242,000 service connections were generated by the entire
WD industry. The total number of households provided with direct access to safe
water supply reached 4.352 million as of December 2017.
Among major changes undertaken by LWUA were the following:
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a. Highlighted significance of water quality through established first water quality

data bank; participation in the first water quality summit; promotion of water
safety plans in all water districts and the conduct of sanitation feasibility
studies for water districts along the Manila Bay.
b. Made water more affordable through lower interest rate from 8% to 4%;
reduced cost of engineering studies for CY 2017 GAA projects from 6% to 3%.
c. Improved internal process through shifted water source focus from

groundwater to surface water and shortened LWUA project development
activities to 100 days.
Philippine Ports Authority
The Major Financial Output (MFO) accomplishment of PPA for 2017 are as follows:
1. Port Development
Considerable amounts are apportioned from the corporate budget to port infrastructure
facilities construction and repairs and maintenance nationwide aimed at improving the
capacity, service standards, and efficiency of ports, consistent with the government’s
development agenda and strategic objectives as well as the Authority’s vision of
providing globally competitive services.
1.1 Locally-Funded Projects
Implemented Locally-Funded Projects (LFPs) as of end of December 2017

totalled 127 projects which cover carry-over and new projects nationwide. Of this
number, 43 projects are for Luzon ports, 34 projects for Visayas ports, and 50 for
Mindanao ports.
The Authority allocated Php4.638 billion to finance its LFPs for the year. As of
December, budget utilized is placed at Php4.155 billion equivalent to a percentage
utilization of 89.59%.
1.2 Dredging Operations
PPA has programmed the removal of silts at various piers and harbors under a
privatized set-up to ensure that serviceable water depths are maintained for the
safe navigation of large vessels calling at the ports. As of end of December, a total
of 493,726.00 cu.m. of silts have been removed at the following ports and harbors:
a. Tagbilaran;
b. Lamao (Bataan);
c. Roxas/Calapan (Oriental Mindoro);
d. Puerto Princesa;
e. Tubigon (Bohol); and,
f. Ormoc
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CY 2017 revised budget for dredging projects, covering carry-over and new
projects, was Php707.93 million per PPA Board Resolution No. 2645. Budget
utilization as of end of December stood at Php260.33 million equivalent to
36.77% budget utilization rate. Moreover, the accomplishments of PPA in this
area is affected by the pending resolution of issues on dumping site with DENR
and PCG, and on contract-award with COA.
1.3 Repair and Maintenance Program
Routine and preventive maintenance of port facilities are being carried out to
ensure that port infrastructures are kept at serviceable and safe condition.
As of end of December, 141 Repair and Maintenance (R&M) projects have

already been completed, 91 are on-going, and 62 have not yet been started. CY
2017 approved budget for Repairs & Maintenance (R&M) Projects amounted to
Php3.039 billion. Budget utilized is placed at Php1.847 billion which is 60.79% of
the total amount dedicated for R&M for the year.
2. Port Operations and Services
2.1 Permits/Clearances to Develop
As of December 2017, PPA approved a total of eleven (11) applications of

Permit/Clearance to develop private port facilities in various locations nationwide.
2.2 Real Estate Management
To optimize the utilization of identified idle areas at the ports and generate
additional revenue, as well as to encourage the active participation of private
sectors in port services delivery, PPA issued 563 Permits to Occupy (PTOc) to
various private port owner/operator.
2.3 Operation and Development of Private Ports
The estimated total number of applications for Certificate of Registration/Permit

to Operate and temporary permit to operate in various ports as of 31 December
2017 is twenty-nine (29).
2.4 Cargo Handling Operations
PPA, as a matter of policy, continuously delegates the provision of cargo handling

services to private partners. Bidding for cargo handling operators (CHOs) has
been deferred in 2016 in view of the study and pending implementation of the new
terminal management operation policy. Thus, all CHOs with expired or expiring
cargo handling contracts were granted Holdover Authority.
3. Support to Operations
3.1 Shore Reception Facility (SRF)
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The MARPOL 73/78 is the main international marine environmental convention

covering the prevention of pollution from ships including, but not limited to,
dumping, oil, and exhaust pollution or accidental causes. In compliance with the
Convention and Presidential Decree (P.D.) No. 1152 or the Philippine Environment
Code, PPA has issued Administrative Order No.02-2003 entitled Implementing
Guidelines on MARPOL 73/78 requirements for Shore Reception Facilities (SRF)
as well as the authorized provider/private operator, that is Golden Dragon
International Terminal Services (GDITI), which shall establish and operate Shore
Reception and Treatment Facilities in different ports. GDITI was awarded with a
15-year contract which shall expire in August 2018.
Moreover, PPA submits to the Supreme Court Quarterly Monitoring and Progress
Report of the activities undertaken relative to the Cleaning-Up of Manila Bay
pursuant to Sections 2 and 6c of E.O. 513 and the International Convention for the
Prevention of Pollution from Ships.
3.2 E-Payment System
Pilot roll-out of the system was completed on 22-26 May 2017 at three (3) Port
Management Offices (PMO), namely: Cagayan de Oro, Bohol, and NCR South.
PPA targeted the complete roll-out of the system in twenty-two (22) PMOs (base
ports) by end of December. E-Payment will provide port users with options to settle
their bills anywhere without carrying cash. It also reduces person-to-person
transaction and the opportunity for graft and corrupt practices.
3.3 Internet-based Port Operations Receipting for Terminals (iPorts)
The system design and development for Internet-based Port Operations Receipting
for Terminals (iPorts) was completed on 28 June 2017. System integration, testing,
and documentation immediately followed the completion of the system
development phase of the Project. Pilot implementation of the system was
conducted in December 2017 at two (2) Port Management Offices (PMOs), i.e.
PMOs NCR North and NCR South.
John Hay Management Corporation (JHMC)
The following are the accomplishments of JHMC for CY 2017:
1. Signing of the Revised Performance Agreement by and Between JHMC and

Bases Conversion and Development Authority (BCDA).
JHMC President and CEO, Allan R. Garcia and BCDA President and CEO Vivencio
B. Dizon signed the Revised Performance Agreement (PA) on 13 February 2017. The
PA is for 5 years commencing on the date of execution and subject to renewal every 5
years thereafter. The PA states that JHMC will earn an annual Estate Management Fee
for its management of the estate of Camp John Hay and retain income/revenues
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realized at the Historical Core and retention of Common Usage Service Area
Fees from its locators. The terms of compensation will allow JHMC to be more
flexible in its allocation of annual budget and an opportunity to increase its income.
2. JHMC Passed the Surveillance Audit by AJA Registrars for the Quality Management
System (QMS) Related to JHMC’s Accreditation for ISO 9001-2008
JHMC was accredited by AJA Registrars to be ISO 9001:2008 on 20 February 2016

and the Registration Certificate was subsequently issued on 04 March 2016. In 03
February 2017, JHMC passed the second Year surveillance audit conducted by the
same certifying body. This indicates and signifies that JHMC’s QMS was maintained
and continuous to be compliant with the requirements of ISO 9001-2008. JHMC
aims to be re- certified for the ISO 9001:2015 in CY 2018 to further develop and
formulate methods to be able to address present and future risks in its operation and to
maintain the level of customer/client service satisfaction.
3. Segregation of Barangays Country Club and Hillside
Preliminary activities for the segregation of BCDA land properties in Barangays

Country Club and Hillside such as public consultation to validate the census of
legitimate structure owners versus the survey made. The prospective beneficiaries
were also briefed on the documentary requirements and the procedures for the
awarding of lots. In the end the purpose of the program is to provide land to the
landless which is consistent with the National Government program, while
generating revenues for the government through BCDA and JHMC. The segregation
of the Barangays is a contribution by BCDA and JHMC to the National Shelter
Program of the Philippine Government.
4. Development of Automated System for Permits and Accreditation in the

Special Economic Zone Department and One-Stop Action Center (OSAC).
Pursuant to Republic Act No. 9485, Section 5 - Reengineering of Systems and

Procedures and Republic Act No. 8792 (RA 8792), Section 27 - Government Use of
Electronic Data Messages, Electronic Documents and Electronic Signatures, the
project involved the design, development, and implementation of the comprehensive
computerized and web-enabled Information System for regulatory processes such as
the Special Economic Zone Administrative Department (SEZAD), Office of the
Building Official (OBO) and in the issuance of Certificate of Environmental
Compliance (CEC), which is user-friendly and functional. Also, it helps track and
manage transactions in a manner that provides the right information to the right set of
people at the right time to enable efficient process flow and decision making.
5. Increase of Job Generated Within the Economic Zone
Number of jobs generated in the John Hay Special Economic Zone (JHSEZ)
increased from CY2016 of 5,523 to 5,830 for CY2017. It is clear that the JHSEZ
contributes to the resolution of unemployment in the City of Baguio and the in
the Municipalities of La Trinidad, Itogon, Sablan, Tuba and Tublay (BLISTT).
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6. Increase of Gross Sales of Business Enterprises within the JHSEZ
Economic activities are very vibrant within the JHSEZ where the gross sales of all
locators totaled ₱967,475,904.67, compared to 2016 of ₱875,570,000.00.
7. Compliance of JHMC to the National Ambient Air Quality Guideline Values on

Particulate Matter 10 (PM10) within the JHSEZ
Camp John Hay has maintained its stature as the “Protected Lungs of Baguio City”.
For the past years, because of its rich forests, the air quality has been within the
highest strata of being in the “GOOD” Air Quality Index (0 - 54μg/ncm). This could
be attributed to sound Forest and Environment Protection and Management in JHSEZ
and John Hay Reservation Area.
8. Excellent or Very Satisfactory Feedback for JHMC Rendered Services
92.79% of the Respondents rated JHMC as Excellent and/or Very Satisfactory in its
delivery of services for governmental regulation in the JHSEZ and JHRA. JHMC will
continue to measure and sustain customer/client satisfaction as a source of input to
improve the organization services in general.
9. Internally Generated Revenue of JHMC
Despite limited area of the Historical Core, and challenges in further construction and
development within the JHSEZ, JHMC realized internally generated
income/revenue of ₱9,015,836.00. This amount represents revenues generated from
regulatory fees, conduct of events and entrance fees at the Historical Core, and interest
income.
Manila International Airport Authority (MIAA)
The MIAA corporate thrusts and objectives aim for the continued implementation and
development of projects with Key Results Area (KRA) for passengers’ safety, security,
comfort and welfare. The following are the major projects, P5 million and above,
completed in CY 2017:
1. Extension of Airport Police Division Headquarters;
2. Purchase of two units Aircraft Rescue and Fire Fighting Major Foam Vehicles
(6x6);
3. Purchase of one Rapid Intervention Vehicle (4x4);
4. Replacement of 26.6 MVA Power Transformer at MIAA Substation No. 1;
5. Repair of Deteriorated Waterproofing at Terminal 3;
6. Supply of Labor and Materials for the Replacement of Cooling Coils of Eleven
Air Handling Units at Terminal 3;
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7. Rehabilitation and Expansion of Existing Toilets M/F/PWD and Re-orientation

of the Location of PWD at Terminal 1, 2, 3 by Administration;
8. Replacement of Fixed Glass Panels at Terminal 1;
9. Supply of Labor and Materials for the Replacement of Cooling Coils at 16 Air
Handling Units at NAIA Terminal 3;
10. Supply, Installation, Operation and Maintenance of Common User

Terminal Equipment (CUTE) at NAIA Terminal 1 and 2;
11. Replacement of Arrival Baggage Conveyor at Terminal 2;
12. Thermoplastic Repainting of Pavement Markings in Taxiway Juliet, Charlie,

Delta, Terminal 3 Ramp, Apron and Parking, and Terminal 4 Ramp and Apron
including North and South General Aviation;
13. Operation and Maintenance of Ventilation and Air-conditioning System

including SSA of Spare Parts Material at Terminal 3;
14. Operation and Maintenance of Common User Terminal Equipment

(CUTE) System and Supply Support Agreement for CUTE Hardware for NAIA
Terminal 3;
15. Replacement of Joint Sealant at Terminal 3; and
16. Supply, Installation and Commissioning of Two CCTV Cameras at F1B

with Monitoring at Manila Control Tower and Domestic.
The MIAA has successfully adopted a QMS Program that resulted in the ISO 9001: 2008
certification of passenger facilitation processes at Terminals 1, 2 and 3 since 2010.
Philippine Economic Zone Authority (PEZA)
PEZA has remarkably contributed to the Philippine economy through its

accomplishments in the following areas:
Areas 2017 2016

Investments (in billion P) 237.570 218.176
Exports (in billion US$) 51.349 47.926
Direct Employment 1,417,832 1,360,342
No. of Projects 554 572
Total economic zone investments approved from January 1 to December 31, 2017
amounted to P237.570 billion (locators and developers), or an increase of 8.89 per cent,
compared to approved investments in 2016 of P218.176 billion. The top five
investments in 2017 are the new projects of existing registered enterprises, to wit:
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Investments (in billion peso)

First Pangasinan Property Dev. Corp. 20.970
Sarangani Energy Corporation 14.979
Epson Precision (Philippines) Inc. 14.114
Hanston Commercial Inds. Corp. 11.847
Achievements Realty Corp. 11.356
For the year 2017, the PEZA Board approved and granted pre-qualification clearance to
developers/operators of 78 economic zones all over the country, subject to the issuance of
the required Presidential Proclamation. Of the 78 approved economic zones, 50 are
Information Technology Centers; 15 Information Technology Parks; 3 Agro-Industrial
Economic Zones; and 10 Manufacturing Economic Zones.
PEZA has been certified since 2008 and is currently on the fourth cycle in its ISO
Certification. The Anglo Japanese American (AJA) Registrars/United Kingdom
Accreditation Services (UKAS) is the certifying body of PEZA’s certification since 2008.
The scope of certification is for “All PEZA Processes in the PEZA Special Economic
Zones (SEZs), Information Technology (IT) Parks/Centers nationwide (Business
Registration/Permits, Zone Enterprise Operations, Incentives Administration, Zone Estate
Administration and Administrative Services).”
Updates on PEZA’s computerization as of December 2017 are as follows:
1. Ongoing testing of the redeveloped Head Office and Ecozones systems: Billing
and Collection System (BCS) and Engineering Permits & Assessment Monitoring
System (EPAMS) to replace existing Oracle-based systems;
2. Online Payment System through DBP-DCI implemented in the first quarter of

2017 to offer online payment options through the use of credit cards, ATM
accounts and G-Cash;
3. Electronic mapping of Operating, Proclaimed, Development in Progress economic

zones as well as Potential Areas for Ecozone development;
4. Development of the online reporting system on union and labor issues of PEZA-
registered enterprises for IRD;
5. Development and implementation of the Company Profile Information System

containing data of all PEZA-registered enterprises;
6. Implementation of the Electronic Zone Transfer System which allows electronic

filing and processing of zone transfers of logistics enterprises importing goods for
their client enterprises; and
7. Development and implementation of the Incentives Certification System

for electronic generation of the Certificate of Incentives with embedded QR codes
for security
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Cluster 5 – Agricultural and Natural Resources
National Irrigation Administration
NIA pursued the implementation of 2,072 infrastructure projects for CY 2017. Of the
total number, 1,214 projects are in Luzon, 423 in Visayas, and 435 in Mindanao. Other
activities for the year were planning and development of irrigation projects, repair,
rehabilitation, and restoration projects of national and communal irrigation systems,
organization and development of irrigators associations (IAs), implementation and
monitoring of Irrigation Management Transfer (IMT), and execution and monitoring of
climate change adaptation works.
Planning and Development of Irrigation Projects
1. Foreign -Assisted Projects (FAPs)
Under the CY 2017 Irrigation Program as per RA 10924, NIA implemented three (3)
continuing FAPs. These were the (1) Participatory Irrigation Development Project
(Phase I, nationwide), (2) National Irrigation Sector Rehabilitation Project (covering
Regions 1, 3, 4-A, 4-B, 6, 10, 11, 12 and 13), and (3) Jalaur River Multipurpose
Project Stage II in Iloilo. These projects have an aggregate total funding requirement
of ₱3.17B equivalent to eight (8) percent of the total approved budget of ₱38.38B.
As of December 31, 2017, these projects restored 133 hectares, repaired 117.16
kilometers earth canal, 26.61 kilometers of canal lining, and 41 units of canal
structures. These included accomplishments under the CY 2017 Program and carry-
over projects.
2. Locally-Funded Projects (LFPs)
Some 2,058 LFPs were implemented under the CY 2017 Program. The total approved
allocation for these projects was ₱35.21 B, equivalent to 92% of the approved budget
for NIA. Allotment through Agency Budget Matrix (ABM) was ₱35.21 B or 100
percent of the allocation. Adding the ₱10.34B unobligated balance from previous
year’s allotment, this year’s available allotment was ₱45.55 B but the total obligation
was ₱42.46 B.
Physical accomplishments under the CY 2017 Program were: 8,796 hectares new area
generated, 9,538 hectares of area restored and repair of 274.07 kilometers earth canal,
1,104.68 kilometers of canal lining, 178 kilometers of HDPE, 290,232 square meters
of coconet slope protection area, 20.45 kilometers concrete of road, 61.92 kilometers
of gravel road, and 3,153 units of canal structure. Carry- over projects generated 2,345
hectares of new area, restore 289 hectares and repair 15.83 kilometers earth canal,
186.79 kilometers of canal lining, 5,852 square meters of coconet slope protection
area, 2.94 kilometers of concrete road, 6.97 kilometers of gravel road, and 498 units of
canal structure
a. Small Reservoir Irrigation Projects (SRIP) – SRIPs are multi-oriented projects that
require the identification, investigation, validation, feasibility studies, detailed
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design, and construction of reservoir dams and appurtenant structures to provide a

year round irrigation. Other benefits derived from completed SRIPs include flood
control, aquaculture, hydropower, domestic water supply, and recreational
facilities for local tourism.
For CY 2017, an amount of ₱2.237B is allotted to SRIP for the implementation of

16 projects nationwide.
b. Comprehensive Agrarian Reform Program (CARP) Regular - Locally Funded

Projects
There are 42 projects implemented this CY 2017, with a target area of 430
hectares of new area and 531 hectares for restoration to benefit around 640
farmer- beneficiaries. There were 23 projects completed with generated new area
of 281 hectares and 303 hectares of restored area. Repair works dwelt on 0.68
kilometer of earth canal, 30.83 kilometers of canal lining and 40 units of canal
structures. The remaining 19 projects are expected for completion on or before
June 30, 2018.
c. Convergence Projects
Mindanao Sustainable Agrarian and Agriculture Development (MinSAAD)–DAR

Funded Project
The Mindanao Sustainable Agrarian and Agriculture Development (MinSAAD)

Project is now on its third year of implementation. The project had already
completed and submitted 24 Feasibility Study Reports (FSRs) with 19 projects
found to be technically, economically, and financially viable and recommendable
for implementation.
Of these, 17 projects with Detailed Design and Program of Works were already
submitted for review and recommendation for approval by MinSAAD PMO and
two (2) projects are for final submission of revised D/D and POW as agreed by
and between DAR MinSAAD CPMO, and CARP-IC PMO. Nineteen (19)
irrigation projects have been approved for funding by Sub-Project Approval
Committee (SAC) for implementation.
Of the 17 projects approved by SAC for construction, two (2) projects were
already completed, five (5) irrigation sub-projects were on-going, three (3)
projects for contract award, and seven (7) projects for contract procurement.
Physical Accomplishments for CY2017 were 69 hectares of new area generated,

153 hectares of restored area and rehabilitated 162 hectares for a total of 384
hectares.
d. Hydropower Development Projects
The hydropower development efforts deal with the establishment and operations
of hydropower plants within NIA-owned/administered irrigation systems; tap
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private sector participation through Open and Competitive Selection Process

(OCSP); double beneficial utilization or irrigation water; cover 379 potential sites
in irrigation facilities out of which 10 sites have a potential/estimated capacity of
400kW and above; augment irrigation O&M funds from share in power plant’s
gross income and lease of needed NIA properties.
As of December 31, 2017, there are four (4) Hydropower Projects completed and
operational.
Operations and Maintenance of Irrigation Systems
1. System Management
a. National Irrigation Systems (NISs) – For this crop year the irrigation-
programmed service area is 1,188,164 hectares. Irrigated area was 597,259
hectares during the dry season 2016 (November 2016 to April 2017), 633,443
hectares during the wet season 2017 (May 2017 to October 2017), and 15,538
hectares for the third crop 2017 – equivalent to a total of 1,246,240 hectares (105
percent of the irrigation-programmed service area). Cropping intensity achieved
was 146.86 percent based on the service area or 166.43 percent based on the
FUSA.
b. Communal Irrigation Systems (CISs) – There are 9,196 Communal Irrigation

Systems (CISs) at the beginning of the year with an aggregate service area of
648,417 hectares and a FUSA of 574,007 hectares. In CY 2016-2017, the total
irrigated area in the CISs was 804,540 hectares equivalent to a cropping intensity
of 124.08 based on service area or 140.16 percent based on FUSA.
c. Institutional Development Operations – For CY 2017, there are 3,670 Irrigators

Associations (IAs) strengthened covering an area of 45,509 hectares with farmer
beneficiaries of 671,216. This was done by uplifting the performance of IAs in
the form of providing necessary capability building programs in relation to
operation and maintenance aspect of irrigation system as well as leadership and
management of IAs affair. Likewise, these IAs were provided skills by having
them attend a strategic planning and policy formulation where IA officers and
leaders prepared their Vision, Mission and Objective (VMO), programs, and
projects to formulate some policies inconsonance with their VMO and projects.
Irrigation Engineering Center
a. Climate Change Adaptation Works – The Irrigation Engineering Center (IEC)

had been monitoring prime intervention activities under Climate Change
Adaptation Works (CCAW) being implemented by NIA Field Offices. Priority
activities under CCAW include, among others, flood/river protection works,
canal and diversion improvement works, watershed development and plantation,
installation of control and steel turn-out gates, and establishment of telemetry
rainfall/river gauge stations (water level sensors). The Physical Accomplishment
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as of December 31, 2017 for NIS and CIS are 69.78 percent and 76.04 percent,
respectively.
b. Coconet Slope Protection Project In NIS/CIS – The NIA Board Resolution No.
8190-15 Series of 2015 confirms and approves the Memorandum of Agreement
(MOA) among OPAFSAM, DPWH, NIA, and PCA on the convergence and
integration on the use of coconut coir in government infrastructure projects to
increase coco coir production and thereby increasing the income of coconut
farmers and generating more jobs in the countryside.
Through the supportive effort of the Agency and in collaboration with other
government agencies relative to the “Coconet Slope Protection in NIS and CIS”
(Bio-Engineering Technology), NIA was blessed and provided with ₱222.049 M
under Republic Act No. 10924 otherwise known as the General Appropriation
Act for CY2017 for this project. NIA accomplished 290,231.85sqm. of coconet
slope protection area as of December 31, 2017. The overall Physical
Accomplishment is 80.38 percent.
Philippine Rice Research Institute (PhilRice)
As the lead agency for rice R4D (Research for Development) initiatives, PhilRice
develops rice science and technology, and generates information and other products
through various programs, creating opportunities to improve the competitiveness of the
Filipino rice farmer and the Philippine rice industry.
Significant highlights of accomplishments of PhilRice are as follows:
1. Rice varieties developed and approved by the National Seed Industry Council (NSIC)
– A total of 13 (3 inbred and 10 hybrid) rice varieties were developed and approved by
the National Seed Industry Council (NSIC) for commercial production. These new
varieties have higher yields, better grain quality and resistance against major pests and
diseases than existing varieties as follows:
Ave Max.
Local Breeding
NSIC Name Yield Yield Recommended Domain
Name Institution
(t/ha) (t/ha)
IRRIGATED LOWLAND (Special Purpose)
NSIC 2017 Rc482SR Japonica 5 PhilRice 3.5 6.8 National, Specialty Rice
NSIC 2017 Rc484SR Japonica 6 IRRI 4.0 6.7 National, Specialty Rice
NSIC 2017 Rc31SR Malagkit 6 PhilRice 4.7 10.8 National, Specialty Rice
IRRIGATED LOWLAND (Hybrid)
NSIC 2017 Rc486H Mestiso 80 Long Ping 6.5 13.9 Regional: Luzon
Regional: Visayas &
NSIC 2017 Rc488H Mestiso 81 SL-Agritech 6.1 12.3
Mindanao
NSIC 2017 Rc490H Mestiso 82 PhilSCAT 6.2 11.9 Regional: Luzon and Visayas
NSIC 2017 Rc492H Mestiso 83 Pioneer 6.2 12.5 Regional: Visayas
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Ave Max.
Local Breeding
NSIC Name Yield Yield Recommended Domain
Name Institution
(t/ha) (t/ha)
NSIC 2017 Rc494H Mestiso 84 Bayer 6.0 12.6 Regional: Mindanao
IRRIGATED LOWLAND (Hybrid)
NSIC 2017 Rc496H Mestiso 85 Syngenta 6.5 10.0 Regional: Luzon
Regional: Visayas &
NSIC 2017 Rc498H Mestiso 86 Syngenta 6.9 10.9
Mindanao
NSIC 2017 Rc500H Mestiso 87 Syngenta 6.7 10.5 Regional: Visayas
NSIC 2017 Rc502H Mestiso 88 Bayer 6.2 12.5 Regional: Luzon
NSIC 2017 Rc504H Mestiso 89 IRRI 6.4 10.1 Regional: Visayas
2. Integrated Crop Management Options Developed/Tested. Among were the following:
a. Long-term Soil Fertility

b. Screening of Rice Materials for Insect Pest and Diseases Resistance
c. Epiphytic Microbial Antagonists for Rice Blast Pathogen
3. Value-Adding Technologies Developed
Nutrient-Rich Rice Blends Using Local Food Crops – Results of the optimization
process showed that both transparent polypropylene and aluminum-coated pouches
withstood temperature and pressure during the retort-processing of rice-adlai and
rice:corn meals. Both pouches also did not impart any residual off-odor and off-taste
to the products. The use of 0.1% malic acid was found suitable as antimicrobial agent
due to its subtle acidity. Moreover, three rice:adlai and/or rice:corn blend products,
namely, energy bar, hopia, and soft cookies, were developed and characterized. Shelf-
life evaluation of the rice:adlai energy bar showed that the product remained
acceptable up to eight weeks at room temperature in both pouches without the
addition of preservative.
4. Farm Machines Developed - For pilot-testing by 2019
a. Stripper combine harvester – Two field tests gave an average actual field capacity
of 1.02 ha/day and an average field efficiency of 54.15%, with average grain losses
at only 7.8%. These were affected by factors such as variety of rice, crop height,
operating speed, width of cut, shape and size of the field, crop and field conditions,
and the skill of the operator.
b. Riding boat tiller – The overall weight of the 2nd prototype increased by 50 kg
due to the added new features. Improvements are being made on the following
parts: adjustable operator’s seat, outrigger adjustment, positioning of lever controls,
weight reduction of rotor and transmission, and inclusion of plastic floater.
5. Technologies/Strategies Developed for Coping with Negative Impacts of Climate

Change
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The second prototype of Kwebo had been completed. It is a multi-purpose farm

structure designed to be typhoon-resistant and easy-to-construct so that farmers
can build it by themselves. It is a dome-shaped structure primarily designed as
shelter of a paddy dryer but can also be used as storage for seeds, machines,
fertilizers, and other farm inputs for safekeeping especially during strong typhoons.
The capillarigation system, a do-it-yourself-type irrigation system almost similar to

the drip irrigation system, which makes use of capillary wicks as means of dispensing
water to the plants (equivalent to the emitters in the drip system), was field-tested
together with other existing irrigation methods (hose and drip). Three field trials at
PhilRice CES showed that the prototype outperformed the existing methods in terms
of, among others, efficiently utilizing limited supply of water.
Six complete sets of the CtRH carbonize with attachment for pasteurizing mushroom
fruiting bags had been established in six farmer cooperatives/associations in Nueva
Ecija, Bulacan, Aurora, Pampanga, and Pangasinan. Two of them are already
operational.
To help enhance farmers’ resilience to climate change through diversification of their

sources of income, the rice+duck farming system was further studied, increasing the
duck population from the conventional 125 to 500-1000 heads per hectare and
integrating the use of azolla, as supplemental source of feeds for the ducks and
nutrients for the plants. Results showed that higher income was obtained from the
integration of ducks in rice with or without azolla.
6. Technology Promotion Activities Conducted Knowledge Products
A total of 88 titles of knowledge products (e.g., magazines, handouts, bulletins,

posters, videos, infographics, etc.) on rice and rice-related topics were produced and
uploaded on Pinoy Rice Knowledge Bank (www.pinoyrice.com). From the 354,000
copies of KPs produced, 55,000 and 31,000 were distributed to farmers and extension
workers, respectively. Moreover, multimedia resources had been well-managed for
easy use and access for promotional work: some 15,418 photos were tagged in the
database; 350 high-quality photos collected from the photo contest; and 106 rice
graphic arts/illustrations produced. To facilitate knowledge-sharing and learning
(KSL), the following communication initiatives were carried out: media engagement,
exhibit & KSL opportunities, campaigns (BeRiceponsible & Infomediary), web-based
promotion, social media, SMS, and radio. A total of 108 media partners had been
identified and mobilized to help in promoting rice technologies and services; 8
exhibits/trade fairs participated in with 8 exhibit collaterals designed; 129 KSL
opportunities (e.g., seminars, forums, workshops, etc.); 7 farmer-coops mobilized for
the establishment of Palaytambayan (rice knowledge corners); 2 national campaigns
conducted; one facebook account well-maintained with an increase of page likes at
38% and an even more significant jump of posts reaching 1,213,748 (84.5%) unique
users; one PhilRice website well-maintained with online stories picked up 615 times
mainly by Business Mirror, Manila Bulletin, and the Philippine Star; 51 broadcast
releases sent to communication officers of DA, ATI, and private media partners and
were broadcast 153 times; and 4 communication studies evaluating communication
and initiatives.
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For FY 2017, PhilRice implemented 114 projects nationwide that are discipline-based,
impact- oriented, and partnership-driven. The 114 R4D projects implemented
nationwide in partnership with DA research centers, state colleges and universities,
government and non-government organizations:
Program/Divisions/Centers/Stations Number of Projects

R&D PROGRAMS 22
Coping with Climate Change 3
High Value-Added Products from Rice and Its Environment 3
Hybrid Rice 3
Palayamanayon Plus Program 4
FutureRice 4
Transforming Rice-Farming Communities into Rice-Based
5
Enterprise Hubs for Inclusive and Sustainable Growth (RiceBIS)
DIVISIONS & CENTERS 42
Plant Breeding and Biotechnology 4
Genetic Resources 3
Agronomy, Soils and Plant Physiology 8
Crop Protection 4
Rice Chemistry and Food Science 2
Rice Engineering and Mechanization 3
Seed Technology 1
Crops Biotech Center 2
Information Systems 2
Development Communication 3
Technology Management and Services 4
Socioeconomics 4
Special Projects 2
BRANCH STATIONS 50
PhilRice Batac 7
PhilRice Isabela 8
PhilRice Los Baños 6
PhilRice Bicol 7
PhilRice Negros 7
PhilRice Agusan 7
PhilRice Midsayap 8
TOTAL 114
Cluster 6 – Social, Cultural, Trading, Promotional and Other Services
Center of International Trade Expositions and Mission ( CITEM)
With the aim of expanding the global presence of the SMEs through export trade
platforms and capability building programs, CITEM organized a total of 18 projects in
2017, composed of 6 Signature Events and one new event for the Creative Sector in
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Annex C
Manila, and 11 Overseas Trade Fairs.
A total of 2,328 MSMEs were linked to 15,308 local and international potential trade
partners around the world, which resulted to US$484.839 Min reported export sales
(booked and under negotiation) and PhP525.55M in combined domestic and retail sales
for the participating SMEs. The agency generated over Php600.00 million of publicity
value from its projects. Among were the following:
1. Manila Fame April And October: Asia's Design & Lifestyle Event
Considered as the country's premier design and lifestyle event, Manila FAME is a bi-
annual showcase of craftsmanship, design innovation, and artisanship in Philippine
products. It features finely selected furniture and home furnishings, holiday gifts and
decor, and fashion accessories designed and crafted in the Philippines for the global
market.
Manila FAME is the second longest-running trade show in the Asia-Pacific, and is the
only trade event in the country that is approved by Union des Foires lnternationales
(UFI), or the Global Association of the Exhibition Industry, a Paris-based association
of trade fair organizers founded 90 years ago in Milan, Italy in April 1925.
The 55th Manila FAME (April 2017) was participated in by 287 companies, including
15 foreign exhibitors. Initial reported export sales generated is US$5.301M while total
Business to Business (828) domestic orders reached PhP20.296 Million.
For its 66th edition, Manila FAME stripped down to its roots and presented a show
built upon the intertwine of the country's rich cultural heritage, design ingenuity,
sustainability, and cause driven developmental programs. While this edition was not
without its challenges and controversies, the show remained and will continue to
remain true to its core -to uphold and promote Filipino design excellence from the
Philippines to the world. The 55th Manila FAME embraced a highly diverse collective
of more than 400 exhibitors representing all 16 regions of the country from expert
exporters to emerging micro and small enterprises, making Manila FAME a true home
and launchpad of Filipino artisans and creatives. More than 1,200 sustainable and
globally-trendy merchandise, designed and developed under the direction of leading
Philippine and international designers, were launched exclusively at Manila FAME
October 2017.
2. International Food Exhibition (Ifex) Philippines: Asia's Ethnic Food & Ingredients
Show
Another CITEM Signature Event, the International Food Exhibition (IFEX)

Philippines is the biggest and most respected sourcing platform for Asian heritage food
and ingredients and specialty food. It brings together the region's tropical fruits and
vegetables, fresh and processed seafood, sauces and condiments, herbs and spices,
gourmet, organic, healthy and functional food products, that are uniquely Asian. For
2017, IFEX Philippines presented a remarkable collection of ethnic food and
ingredients that samples the most authentic taste of Asia amid the mainstream presence
of international flavors. In line with the 50th founding anniversary and 30th Summit of
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the Association of Southeast Asian Nations (ASEAN}, ASEAN Showcase:

TasteASEAN@IFEX Philippines presented the top food from 10 ASEAN member
states as one of the official events in the ASEAN 2017 Business and Investment
Program held in partnership with the Committee on Business and Investment
Promotion (CBIP).
3. New International Event In Manila
The maiden edition of CREATE Philippines was successfully staged alongside the 66th
edition of the Manila FAME on 20-22 October 2017 at the Philippine Trade Training
Center and Hall ONE.
With an end in mind of stirring the stakeholders of the Philippines' creative industries
towards a common objective which is "Developing an International Market for the
Filipino Creative Content and Talents", the event brought together though leaders,
international influencers, practitioners of the various creative disciplines, the academe,
and students in the 3-day forum and exhibition.
The event aimed to engage the local creative industries, develop stronger public-
private partnerships, and establish more networks with global partners.
In line with the Philippines' hosting of the ASEAN Summit which coincides with the
ASEAN's 50th founding anniversary, CREATE Philippines was included as an official
ASEAN side-event under the Committee on Business and Investment Promotion
(CBIP) which is chaired by DTI Undersecretary Nora K. Terrado. The event hosted 8
exhibitors from Malaysia, Indonesia, Vietnam, Thailand, Brunei, Myanmar and
Singapore and featured 3 speakers from Thailand and Malaysia.
4. Overseas Trade Fairs – In leading the official participations in overseas trade fairs and
missions, CITEM sustained its "One Brand, One Image, One Message" strategy
through its unifying industry brands, Design Philippines, Lifestyle Philippines, and
Food Philippines providing rich opportunities for Philippine exporters and designers to
promote their new products and material innovations, as well as, to forge strategic
partnerships with potential buyers and business partners. Design Philippines positions
the Philippines as a sourcing destination for finely crafted products for the world
market, nurturing and celebrating the creativity and originality of a globally
competitive and passionate community of Filipino designers and craftsmen. Projects
undertaken under Design Philippines are as follows:
Project Venue Date

Salone Internazionale del Mobile Milan, Italy April 4 - 9
International Contemporary Furniture Fair New York, USA May 21 - 24
Food Philippines is the industry brand for the food sector which unifies the overseas
promotional efforts of the Philippine Department of Trade and Industry (DTI) and
CITEM. Under this brand, the Philippines is positioned as Asia's most exciting
sourcing destination for food exports, being one of the world's top producers of fresh
fruits and marine products. CITEM organized Philippine participation in the following
shows:
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Annex C
Project Venue Date

Winter Fancy Food Show San Francisco, USA January 22 - 24
Gulfood Dubai, UAE February 26 –March 02
Foodex Chiba, Japan March 1- 7
Taipei International Food Show Taipei, Taiwan June 21-24
Anuga Cologne, Germany October 7-11
5. International /Commitment – CITEM participated in the 14th China-ASEAN Expo

(CAEXPO) held in Nanning, China on September 12-15, 2017. The CAEXPO is an
annual international trade event that serves as a platform for a deepened economic
partnership and accelerated economic integration between China and the ASEAN
countries. The Philippines participation featured 42 companies, received 5,040
inquiries and generated USD37.794M in export sales for the participating companies.
Philippine Health Insurance Corporation (PHIC)
In 2017. Phil Health already covered 93% of the projected population which is about
96.97 million principal members and dependents out of the 104.52 million projected
population. It has able to provide benefit entitlement to every Filipino particularly those
who do not have the capacity to pay for health care services at the time of hospitalization.
Among the major accomplishments were:
1. Automatic Coverage at Point of Service – An allocated sum of P3 billion set into

motion the Point of Service (POS) Program of Phi!Health in 2017. It granted
PhilHealth coverage to Filipinos who do not have the means to pay for health services
at the time of hospitalization. The Point of Care (POC) Program alongside the massive
enrollment of the poor and the elderly, seeks to automatically provide social health
insurance entitlement upon hospital admission after an assessment of the potential
beneficiary by medical social workers using a set of socio-economic criteria. A total of
33,780 individuals were covered under the POS Program who would have otherwise
been financially burdened by the high cost of health care without PhilHealth.
2. Better Access to Healthcare Facilities – With the increasing number of covered

beneficiaries under the National Health Insurance Program, PhilHealth also ensures
that more and more facilities can address the healthcare needs of the Filipinos.
Accommodating both inpatient and outpatient services, there is an upward trend in the
number of accredited facilities. The number of accredited hospitals as well as Local
Government Units (LGUs) with Primary Care Benefit Package (PCB), Maternity Care
(MCP) and TB-DOTS Facilities.
3. New Benefit Packages:
3.1. Medical Detoxification Package
In support of the National Government's campaign to stop drug addiction,

PhilHealth developed a package designed to provide medical detoxification to
drug dependents who desire to get rid of their addiction to illegal substances.
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3.2. Benefit Packages for Children with Disabilities
A benefit package for developmental disability which includes services for proper
diagnosis and provision of specific and individualized plans for therapy services
has been developed for children with hearing, visual and mobility impairment.
The benefits were developed to help address part, if not all, of the health care
needs of children with disabilities. This move is also in support to the Department
of Health's (DOH) expanded national program for disabled person .
3.3. Z-Benefits for Premature and Small Newborns
Current statistics indicates that 32 percent of newborn deaths happen as a result of

factors surrounding preterm birth. At the same time babies with low birth weight
experience similar risks as preterm babies. This prompted PhilHealth to develop a
benefit package to provide mothers with access to preventive and catastrophic
care for newborns with these conditions. The new benefit complements existing
packages for mother and newborns under Phillhealth maternity care package,
normal spontaneous delivery, and women about to give birth.
3.4. Enhanced Z-Benefit for Standard Acute Risk Lymphocytic Leukemia
By increasing the package rate of this benefit package, PhilHealth can now ensure
that the mandatory services covering the entire treatment phases are provided.
Filipino children suffering from acute lyrnphocytic leukemia now have the
opportunity to receive comprehensive management disease and achieve the
survival status that is comparable to western counterparts.
Philippine Institute of Traditional and Alternative Health Care (PITAHC)
For this year, a total of fourteen (14) researches were completed. To implement these
researches, PITAHC partnered with the academes and research institutions such as;
University of the Philippines- Manila, University of Santo Tomas, Department of Health-
National Children’s Hospital, UP Open University, St. Luke’s College of Medicine,
department of Health-Lung Center of the Philippines, University of the Philippines Los
Banos, Ateneo de Manila University, and Mindanao State University-Iligan City.
The following are the research projects that were completed in 2017.
1. Evaluation of Alternantherasessilis, Ipomoea batatas, and Phyllanthusnirurias

potential agents against various hematologic disorders.
Hematological Disorders such as anemia and thrombocytopenia are common in the

country. Treatments for such disorders however, are costly and some have shown
adverse effects. Use of medicinal plants may serve as an alternative therapy to
alleviate the burden of these disorders. A. sessilis, I. batatas, and P. niruri will be
tested for their activities using in vivo animal models of iron deficiency and
hemolytic anemia and thrombocytophenia.
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Annex C
The study may serve as scientific proof of the regenerative agents against animal
models of the aforesaid blood disorders. Positive outcome may be utilized to
formulate different dosage forms that will address these in children and adults.
2. Standard Reference Material (SRM) DNA Barcode Approach of Authentication

Antidesmabunius(L.) Spreng. (Bignay) Derived Products
Antidesmabunius(L.) Spreng. (Bignay) is popular for its antioxidant properties and

sweet taste. This study is preceeded by the success of the application of DNA
barcoding in the establishment of a standard reference material (SRM) herbal DNA
barcode library of Vitex negundo L. (lagundi) for quality control measures in the
Philippines.
This study aims to utilize DNA bar coding in the authentication of Antidesmabunius
derived products. Moreover, it will establish the distinctness of A. bunuis following
the DNA bar coding multi-locus/tiered approach. The study will distinguish the
characteristics of A. bunuis from closely related species available in the Philippines.
It will also authenticate at least five (5) herbal products available in the market
following the BLASTn criterion and Maximum-likelihood tree construction criterion
in authentication of A. bunion based products.
3. Exploring the Health Benefits of Fermented Rice on Neurocognition Health in the

Province of Benguet of the Cordillera Autonomous Region
The research will look into the association between consumption of fermented rice
wine (Tapuy) and lees with Alzheimer Disease and early signs of dementia. Further,
it will determine the nutritional profile, bioactivity and probiotic potential of rice
wine and the fermented rice leftover (lees) from the Cordillera Autonomous Region
using in vivo model.
4. Documentation of Existing Practices on Medical Cannabis in the Cordillera
One of the popular local herbs being utilized as an alternative medicine is the highly
controversial Cannabis sativum, commonly known as marijuana. The plant contains
the mind altering chemical delta-9-tetrahydrocannabinol (THC) and other related
compounds.
The study aims to document existing practices on the production, processing, and use
of medical Cannabis. The study will determine and identify the type of Cannabis
plant in selected sites in the regions, describe processes in planting, gathering, and
transforming the plant into different forms for medical use. It will list and describe
the different ways and forms on how Cannabis is used as medicine. The study will
enumerate the expected and reported effects of use, both positive and negative, and
describe how negative effects are managed. It will determine the bearers of
knowledge in preparing medical Cannabis, the dispensers or healers and their
practices.
5. Ethnological Documentation and DNA Barcoding of Medicinal Plants used by the
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Annex C
Agusan Manobo in Selected Municipalities and City of Agusan del Sur, Mindanao,
Philippines
Little is known of the folk medical information among the ethnic tribes in certain
areas of Mindanao, particularly of the Manobos of Agusan del Sur. Their widely
dispersed communities in highlands above the mountain drainage systems may imply
a significant ecological niche for their indigenous plants. It is highly important to
recognize the role of ethnobotany and species identification in conservation of these
plant genetic resources with medicinal properties.
The study aims to conduct an ethno pharmacological documentation of Agusan

Manobo medicinal plants and utilize DNA barcoding in the identification of the
medicinal plants used by the Agusan Manobo in all municipalities and the sole city
of Agusan del Sur, CARAGA, Mindanao, Philippines.
6. Encyclopedia of Medicinal Plants of the Philippines Volume 3
This project aims to prepare Volume 3 in this Encyclopedia series, focusing on the
next thirty (30) common medicinal plants of the Philippines. The book will provide
updated fundamental scientific information on these Philippine medicinal plants
using peer-reviewed research journal sources and reliable primary sources.
7. Conservation and Sustainable Utilization of Selected Medicinal Plants, Year 2
Most medicinal plants are found in primary forests. But these medicinal plants are
threatened with endangerment due to large-scale forest destruction and over-
collection. The study aims to increase the diversity of germplasm collections through
collecting, multiplication, and conservation of plants, morphological characterization
and evaluation, and construction of database information management system and
dissemination of information on medicinal plants germplasm collection.
8. The Effect of Auricular Acupuncture on Smoking Cessation and in the Reduction of

Preoperative Anxiety
The study aims to demonstrate the effectivity of auricular acupuncture in reducing

preoperative anxiety in children. Specifically, it aims to determine the change in the
preoperative anxiety level of pediatric patients using Visual Analogue Scale – Facial
Affective Scale, and to determine the changes in the heart rate and blood pressure
during the preoperative period.
The results of the study will be beneficial to the Philippine Health Care Program to
help address preoperative anxiety, shortening the period of recovery by improvement
in the over-all surgical recovery at a lesser cost.
The effective methods of smoking cessation are pharmacotherapy and non

pharmacologic interventions. Acupuncture is a form of non pharmacologic
management. The efficacy of acupuncture in smoking cessation has been quoted as
approaching 45%.Studies have shown that acupuncture results to deterioration in the
taste of tobacco and decrease in the desire to smoke. Although there are various
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Annex C
suggested protocols for smoking cessation, the five points National Acupuncture
Detoxification (NADA) protocol is the most widely adopted.
The study will have a national impact since success in smoking cessation will
decrease smoking-related morbidities and mortalities leading to enhancement of
health and reduction in the budget spent for said diseases by the government. This
study aims to determine the effect of ear acupuncture using the NADA Protocol
versus sham ear acupuncture in the reduction of the mean number of cigarettes
smoked per day. The mean reduction using Fagerstrom Test for Nicotine
Dependence (FTND) will also be determined. The study will list the presence of:
change in the taste of cigarette, changes in smell and body warmth and withdrawal
symptoms.
9. Development of Competency Standards in Anthroposophic Medicine
Anthroposophic medicine recognizes the connection between natural, psychological,

moral, and spiritual forces in each human being and emphasizes the entirety of the
human being and central role of the individual in engendering and maintaining health
in himself/herself and in his/her community. This project aims to develop
competency standards for Anthroposophic Medicine practitioners that will also
include Art Biography. It will review existing Anthroposophic Medicine competency
standards and training materials both international and local, determine perceived
roles and responsibilities of the Filipino Anthroposophic Medicine practitioners,
identify competencies that need to be developed, and develop a framework for
teaching and training the practitioner.
10. Knowledge, Attitude, and Practices on Herbal Medicine among Physicians in

Northern Mindanao (Region X)
The study aims to assess the level of knowledge, attitude, and practices on herbal
medicine among physicians in Northern Mindanao (Bukidnon, Lanao del Norte,
Misamis Oriental, Camiguin, and Misamis Occidental). The results of the project
will be useful in establishing education and training programs, benchmarks, and
implementation capacities for T&CM practitioners. This will also contribute in
building knowledge-based for active management of herbal medicine through
appropriate national policies by understanding the role and potential of the physician
in the integration of herbal medicine in the national health care delivery system.
11. The Collection and Systematic Review of Literature on Traditional and

Complementary Medicine (T&CM) from Education and Research Institutions, Year
2 (Region I, II, III, CAR, VI, XI,X)
The study aims to gather data on published and unpublished researches on traditional
and complementary medicine from schools, colleges, universities, and institutions in
different regions of the country. The collected data shall be stored into the repository
of researches www.herbs.ph and www.tkdlph.com. The purpose of this project is to
prevent duplication of work and to have an inventory of researches in T&CM.
12. Patent search for Cannabis
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Annex C
The Purpose of this research is to reveal existing relevant patents as well as non-
patent literatures (the "landscape") relating to medical cannabis. This landscape will
align the research and development strategic plans of the Philippine Institute of
Traditional and Alternative Health Care (PITAHC) for its program Maximizing the
Health and Economic Benefits of Indigenous Oil from Medical Cannabis.
For this search, patents that use and/or relate to cannabinoid that acts on cannabinoid
receptors are included. Patents relating to cannabinoid receptors only are not
included since they do not use components found in Cannabis.
13. Collating, Updating, and Geo-Referencing the Philippine Traditional Medicine

Knowledge Base towards Research and Community Capacity-Building in
ZamBaSulTa (Phase 1: Zamboanga Peninsula)
The study aims to build local capacity for PTM research, increase research base for
integration of PTM into the national health care system, support policy makers for
PTM integration, support indigenous cultural communities in integrating indigenous
health practices into the IP curriculum.
The study will make PTM research accessible by building a georeferenced directory
of research materials, researchers, research institutions in national, local, and
community.
14. The traditional Medicinal Plants Utilized by the Mamanwas of Agusan and Surigao
Provinces and the Subanens of Lake Duminagat, Mt. Malindang, Misamis
Occidental, Philippines: Ethnobotanical Survey In Vitro Propagation and
Ethnopharmacological Studies
The research is composed of three projects which will: 1) provide baseline

information and documentation on the different medicinal plants utilized by
Mamanwas in Agusan and Surigao Provinces and the Subanens in Lake Duminagat,
Mt. Malindang, Misamis Oriental; 2) investigate the pharmacologic properties and
toxicity of extracts from selected medicinal plants utilized by the Mamanwa and
Subanen indigenous people of Mindanao; and 3) mass propagate selected medicinal
plants used by Mamanwa in Agusan and Surigao Provinces and Subanen in Lake
Duminagat, Mt. Malindang, Misamis Oriental through in vitro propagation.
For 2017, a total of one hundred forty five (145) social advocacy activities such as
orientation-seminars, lectures, demonstrations, public appearances, and participation to
exhibits were carried out. The recent use of print media in partnership with a local media
partner gained impetus on PITAHC’s branding, a leader in traditional and alternative
health care.
For the last five years, PITAHC certified TAHC practitioners and accredited clinics,
training centers and organizations. This is to ensure the general public that these
practitioners and facilities comply with the standards set by the Institute. Continuous
monitoring visits were conducted to certified TAHC practitioners and clinics and centers.
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Annex C
Orientations at the different LGUs on PITAHC’s certification and accreditation

requirements on TAHC modalities were conducted in Region X, Cagayan de Oro City and
Region VIII, Tacloban City. This was participated in by City health officers, Municipal
Health Officers, and Business Permit Licensing Officers.
For 2017, a total of 82 acupuncturists and three chiropractors were certified and two
acupuncture clinics were accredited. There are now a total of 858 certified acupuncturists,
37 chiropractors, 32 homeopaths/homotoxicologists and 15 naturopaths certified by
PITAHC as of December 2017. Also, there are now 30 acupuncture, five
homeopaths/homotoxicologists, one naturopaths clinics accredited; eight acupuncture, one
homeopaths/homotoxicologists, three (3) naturopaths training centers; seven acupuncture,
one homeopaths/homotoxicologists TAHC organizations accredited.
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Annex D
List of Government Corporations with Acronyms and Status of Audit
as of December 31, 2017
Parent/
Non-
Name of Government Corporations Acronym Controlling GBE Status of Audit
GBE
Entity
Cluster 1 - Banking and Credit Cluster
1 Bangko Sentral ng Pilipinas BSP  With Annual Audit Report issued

2 Credit Information Corporation CIC BSP  With Annual Audit Report issued
3 Central Bank-Board of Liquidators CB-BOL BSP  With Annual Audit Report issued
4 Philippine International Convention Center, Inc. PICCI BSP  With Annual Audit Report issued
5 Development Bank of the Philippines DBP  With Annual Audit Report issued
6 Al-Amanah Islamic Investment Bank of the Philippines AAIIBP DBP  With Annual Audit Report issued
191
7 DBP Data Center, Inc. DCI DBP  With Annual Audit Report issued
8 DBP Leasing Corporation DBPLC DBP  With Annual Audit Report issued
9 DBP Management Corporation DBPMC DBP  With Annual Audit Report issued
10 Land Bank of the Philippines LBP  With Annual Audit Report issued
11 Landbank Countryside Development Foundation, Inc. LCDFI LBP  With Annual Audit Report issued
12 Land Bank Resources and Development Corporation LBRDC LBP  With Annual Audit Report issued
13 LBP Insurance Brokerage, Inc. LIBI LBP  With Annual Audit Report issued
14 LBP Leasing and Finance Corporation LLFC LBP  With Annual Audit Report issued
15 Masaganang Sakahan, Inc. MSI LBP  With Annual Audit Report issued
16 People's Credit and Finance Corporation PCFC LBP  With Annual Audit Report issued
17 National Livelihood Development Corporation NLDC LBP  With Annual Audit Report issued
18 Northern Food Corporation NFC NLDC  With Annual Audit Report issued
19 Philippine Deposit Insurance Corporation PDIC  With Annual Audit Report issued
20 Philippine Postal Savings Bank, Inc. PPSBI PPC  With Annual Audit Report issued
Annex D
Parent/
Non-
GBE
Entity
1 AFP Retirement and Separation Benefits System AFPRSBS  With Annual Audit Report issued
3 Employees’ Compensation Commission ECC  With Annual Audit Report issued
2 Southern Utilities Management Services, Inc. SUMSI AFPRSBS  With Annual Audit Report issued
4 Government Service Insurance System GSIS  With Annual Audit Report issued
5 Home Development Mutual Fund HDMF  With Annual Audit Report issued
6 Home Guaranty Corporation HGC  With Annual Audit Report issued
7 National Home Mortgage Finance Corporation NHMFC  With Annual Audit Report issued
8 Social Housing Finance Corporation SHFC NHMFC  With Annual Audit Report issued
9 National Housing Authority NHA  With Annual Audit Report issued
10 Occupational Safety and Health Center OSHC  With Annual Audit Report issued
192
11 Palacio Del Gobernador Condominium Corporation PDGCC  With Annual Audit Report issued
12 Small Business Guarantee and Finance Corporation SBGFC  With Annual Audit Report issued
13 Social Security System SSS  With Annual Audit Report issued
14 Trade and Investment Development Corporation of the TIDCORP/ With Annual Audit Report issued

Philippines PhilEXIM
1 APO Production Unit, Inc. APO  With Annual Audit Report issued
2 Light Rail Transit Authority LRTA  With Annual Audit Report issued
3 Local Water Utilities Administration LWUA  With Annual Audit Report issued
4 Metropolitan Waterworks & Sewerage System MWSS  With Annual Audit Report issued
5 National Electrification Administration NEA  With Annual Audit Report issued
6 National Power Corporation NPC  With Annual Audit Report issued
7 Philippine National Oil Company PNOC  With Annual Audit Report issued
8 PNOC Alternative Fuels Corporation PAFC PNOC  With Annual Audit Report issued
Annex D
Parent/
Non-
GBE
Entity
9 PNOC Development and Management Corporation PDMC PNOC  With Annual Audit Report issued
10 PNOC Exploration Corporation PNOC-EC PNOC  With Annual Audit Report issued
11 PNOC Renewables Corporation PRC PNOC  With Annual Audit Report issued
12 PNOC Shipping and Transport Corporation PSTC PNOC  With Annual Audit Report issued
13 Philippine National Railways PNR  With Annual Audit Report issued
14 Philippine Ports Authority PPA  With Annual Audit Report issued
15 Philippine Postal Corporation PPC  With Annual Audit Report issued
16 Power Sector Assets & Liabilities Management Corporation PSALM  With Annual Audit Report issued
17 National Transmission Corporation TransCo PSALM  With Annual Audit Report issued
18 Cebu Ports Authority CPA  With Annual Audit Report issued
19 Panay Railways, Inc. PRI  With Annual Audit Report issued
193
1 Aurora Pacific Economic Zone and Freeport Authority APECO  With Annual Audit Report issued
2 Authority of the Freeport Area of Bataan AFAB(BEPZ)  With Annual Audit Report issued
3 Bases Conversion and Development Authority BCDA  With Annual Audit Report issued
4 BCDA Management and Holdings, Incorporated BMHI BCDA  With Annual Audit Report issued
5 Clark Development Corporation CDC BCDA  With Annual Audit Report issued
6 Subic-Clark Alliance for Development SCAD  With Annual Audit Report issued
7 Clark International Airport Corporation CIAC BCDA  With Annual Audit Report issued
8 John Hay Management Corporation JHMC BCDA  With Annual Audit Report issued
9 North Luzon Railways Corporation NORTHRAIL BCDA  With Annual Audit Report issued
10 Poro Point Management Corporation PPMC BCDA  With Annual Audit Report issued
11 Cagayan Economic Zone Authority CEZA  With Annual Audit Report issued
12 Northeastern Luzon Pacific Coastal Service, Incorporated NLPCSI  With Annual Audit Report issued
13 Civil Aviation Authority of the Philippines CAAP  With Annual Audit Report issued
14 Laguna Lake Development Authority LLDA  With Annual Audit Report issued
15 Mactan-Cebu International Airport Authority MCIAA  Annual Audit Report unsubmitted
Annex D
Parent/
Non-
GBE
Entity
16 Manila International Airport Authority MIAA  With Annual Audit Report issued
17 Marawi Resort Hotels, Incorporated MRHI  With Annual Audit Report issued
18 National Development Company NDC  With Annual Audit Report issued
19 Batangas Land Company, Incorporated BLCI NDC  With Annual Audit Report issued
20 First Cavite Industrial Estate, Incorporated FCIEI NDC  With Annual Audit Report issued
21 GY Realty Estate, Incorporated GYREI NDC  With Annual Audit Report issued
22 Inter-Island Gas Services, Incorporated IIGSI NDC  With Annual Audit Report issued
23 Kamayan Realty Corporation KRC NDC  With Annual Audit Report issued
24 Manila Gas Corporation MGC NDC  With Annual Audit Report issued
25 NDC-Philippine Infrastructure Corporation NPIC NDC  With Annual Audit Report issued
26 Pinagkaisa Realty Corporation PRC NDC  With Annual Audit Report issued
27 Partido Development Administration PDA  With Annual Audit Report issued
194
28 Philippine Aerospace Development Corporation PADC  With Management Letter issued

29 Philippine Economic Zone Authority PEZA  With Annual Audit Report issued
30 Philippine National Construction Corporation PNCC  With Annual Audit Report issued
31 Alabang- Sto.Tomas Development, Incorporated ASDI PNCC  With Annual Audit Report issued
32 CDCP Farms Corporation CDCP-FC PNCC  With Annual Audit Report issued
33 DISC Contractors Builders and General Services, Inc. DISCCBGSI PNCC  With Annual Audit Report issued
34 Philippine Reclamation Authority PRecA  With Annual Audit Report issued
35 PEA Tollway Corporation PEATC PRecA  With Annual Audit Report issued
36 PHIVIDEC Industrial Authority PIA  With Annual Audit Report issued
37 Southern Philippines Development Authority SPDA  With Annual Audit Report issued
38 Subic Bay Metropolitan Authority SBMA  With Annual Audit Report issued
39 Tourism Infrastructure and Enterprise Zone Authority TIEZA  With Annual Audit Report issued
40 Corregidor Foundation, Inc. CFI TIEZA  With Annual Audit Report issued
41 Zamboanga City Special Economic Zone Authority ZCSEZA  Annual Audit Report unsubmitted
Annex D
Parent/
Non-
GBE
Entity
1 National Food Authority NFA  With Annual Audit Report issued

2 Food Terminal, Inc. FTI NFA  With Annual Audit Report issued
3 National Irrigation Administration NIA  With Annual Audit Report issued
4 Philippine Coconut Authority PCA  With Annual Audit Report issued
5 Sugar Regulatory Administration SRA  With Annual Audit Report issued
6 Philippine Sugar Corporation PHILSUCOR  With Annual Audit Report issued
7 Philippine Fisheries Development Authority PFDA  With Annual Audit Report issued
8 National Dairy Authority NDA  With Annual Audit Report issued
9 National Tobacco Administration NTA  With Annual Audit Report issued
10 Human Settlements Development Corporation HSDC  With Annual Audit Report issued
195
11 Natural Resources Development Corporation NRDC  With Annual Audit Report issued
12 Philippine Mining Development Corporation PMDC NRDC  With Annual Audit Report issued
13 Philippine Crop Insurance Corporation PCIC  With Annual Audit Report issued
14 Quedan and Rural Credit Guarantee Corporation QUEDANCOR  With Management Letter issued
15 Philippine Rice Research Institute PRRI  With Annual Audit Report issued
16 Bukidnon Forests, Inc. BFI  With Management Letter issued
1 Philippine Charity Sweepstakes Office PCSO  With Annual Audit Report issued
2 Philippine Amusement and Gaming Corporation PAGCOR  With Annual Audit Report issued
3 Lung Center of the Philippines LCP  With Annual Audit Report issued
4 National Kidney and Transplant Institute NKTI  With Annual Audit Report issued
5 Philippine Children's Medical Center PCMC  With Annual Audit Report issued
6 Philippine Heart Center PHC  With Annual Audit Report issued
7 Boy Scouts of the Philippines BSoP  With Annual Audit Report issued
8 Philippine Retirement Authority PRA  With Annual Audit Report issued
Annex D
Parent/
Non-
GBE
Entity
9 Veterans Federation of the Philippines VFP  With Management Letter issued

11 Center for International Trade Expositions and Missions CITEM  With Annual Audit Report issued
12 Duty Free Philippines Corporation DFPC  With Annual Audit Report issued
13 Nayong Pilipino Foundation NPF  With Management Letter issued
14 Philippine International Trading Corporation PITC  With Annual Audit Report issued
15 Philippine Pharma Procurement, Inc. PPPI  With Annual Audit Report issued
16 Tourism Promotions Board TPB  With Annual Audit Report issued
17 Philippine Health Insurance Corporation* PHIC  With Annual Audit Report issued
18 Cultural Center of the Philippines CCP  With Annual Audit Report issued
19 Development Academy of the Philippines DAP  With Annual Audit Report issued
20 Intercontinental Broadcasting Corporation IBC 13  With Annual Audit Report issued

196
21 People's Television Network, Inc. PTNI With Annual Audit Report issued
22 Philippine Center on Economic Development PCED  With Annual Audit Report issued
23 Philippine Institute for Development Studies PIDS  With Annual Audit Report issued
24 Philippine Institute of Traditional and Alternative Health Care PITAHC  With Annual Audit Report issued
*Reclassified as GBE as of January 30, 2018 based on COA

Resolution No. 2018-001 dated January 30, 2018
Annex E
List of Government Corporations and Accounting Standards Adopted
Calendar Year 2017
No Name of Government Corporations ACRONYM PARENT GBE Non -GBE PFRS/ PAS PPSAS GAAP NGAS
TOTAL 83 44 72 34 18 3
1 AFP Retirement and Separation Benefits System AFPRSBS 1 1
2 Alabang Sto. Tomas Development, Inc. ASDI PNCC 1 1
3 Al-Amanah Islamic Investment Bank of the Philippines AAIIBP DBP 1 1
4 APO Production Unit, Inc. APO 1 1
5 Aurora Pacific Economic Zone Authority and Freeport Authority APECO 1 1
6 Authority of the Freeport Area of Bataan AFAB 1 1
7 Bangko Sentral ng Pilipinas (w/ Philippine International Convention Center, Inc.) BSP 1 1
8 Bases Conversion and Development Authority BCDA 1 1
9 Batangas Land Company, Inc. BLCI NDC 1 1
10 BCDA Management and Holdings, Inc. BMHI BCDA 1 1
11 Boy Scouts of the Philippines BSoP 1 1
12 Cagayan Economic Zone Authority CEZA 1 1
197
13 CDCP Farms Corporation CDCP-FC PNCC 1 1

14 Cebu Port Authority CPA 1 1
15 Center for International Trade Expositions and Missions CITEM 1 1
16 Central Bank-Board of Liquidators CB-BOL BSP 1 1
17 Civil Aviation Authority of the Philippines CAAP 1 1
18 Clark Development Corporation CDC BCDA 1 1
19 Clark International Airport Corporation CIAC BCDA 1 1
20 Corregidor Foundation, Inc. CFI 1 1
21 Credit Information Corporation CIC BSP 1 1
22 Cultural Center of the Philippines CCP 1 1
23 DBP Data Center, Inc. DCI DBP 1 1
24 DBP Leasing Corporation DBPLC DBP 1 1
25 DBP Management Corporation DBPMC DBP 1 1
26 Development Academy of the Philippines DAP 1 1
27 Development Bank of the Philippines DBP 1 1
28 DISC Contractors Builders and General Services, Inc. DISCCBGSI PNCC 1 1
29 Duty Free Philippines Corporation DFPC 1 1
30 Employees’ Compensation Commission ECC 1 1
Annex E
31 First Cavite Industrial Estate Inc. FCIEI NDC 1 1
32 Food Terminal, Inc. FTI 1 1
33 Government Service Insurance System GSIS 1 1
34 GY Realty Estate, Inc. GYREI NDC 1 1
35 Home Development Mutual Fund HDMF 1 1
36 Home Guaranty Corporation HGC 1 1
37 Human Settlements Development Corporation HSDC 1 1
38 Intercontinental Broadcasting Corporation IBC 13 1 1
39 Inter-Island Gas Services, Inc. IIGSI NDC 1 1
40 John Hay Management Corporation JHMC BCDA 1 1
41 Kamayan Realty Corporation KRC NDC 1 1
42 Laguna Lake Development Authority LLDA 1 1
43 Land Bank of the Philippines LBP 1 1
44 Land Bank Resources and Development Corporation LBRDC LBP 1 1
45 Landbank Countryside Development Foundation, Inc. LCDFI LBP 1 1
46 LBP Insurance Brokerage, Inc. LIBI LBP 1 1
47 LBP Leasing and Finance Corporation LLFC LBP 1 1
198
48 Light Rail Transit Authority LRTA 1 1

49 Local Water Utilities Administration LWUA 1 1
50 Lung Center of the Philippines LCP 1 1
51 Mactan-Cebu International Airport Authority MCIAA 1 1
52 Manila Gas Corporation MGC NDC 1 1
53 Manila International Airport Authority MIAA 1 1
54 Marawi Resort Hotels, Inc. MRHI 1 1
55 Masaganang Sakahan, Inc. MSI LBP 1 1
56 Metropolitan Waterworks & Sewerage System MWSS 1 1
57 National Dairy Authority NDA 1 1
58 National Development Company NDC 1 1
59 National Electrification Administration NEA 1 1
60 National Food Authority NFA 1 1
61 National Home Mortgage Finance Corporation NHMFC 1 1
62 National Housing Authority NHA 1 1
63 National Irrigation Administration NIA 1 1
64 National Kidney and Transplant Institute NKTI 1 1
65 National Power Corporation NPC 1 1
66 National Tobacco Administration NTA 1 1
Annex E
67 National Transmission Corporation TransCo 1 1
68 Natural Resources Development Corporation NRDC 1 1
69 NDC-Philippine Infrastructure Corporation NPIC NDC 1 1
70 North Luzon Railways Corporation NORTHRAIL BCDA 1 1
71 Northeastern Luzon Pacific Coastal Services, Inc. NLPCSI CEZA 1 1
72 Northern Foods Corporation NFC NLDC 1 1
73 Occupational Safety and Health Center OSHC 1 1
74 Palacio Del Gobernador Condominium Corporation PDGCC 1 1
75 Panay Railways, Inc. PRI 1 1
76 Partido Development Administration PDA 1 1
77 PEA Tollway Corporation PEATC PRA 1 1
78 People's Television Network, Inc. PTNI 1 1
79 Philippine Amusement and Gaming Corporation PAGCOR 1 1
80 Philippine Amusement and Gaming Corporation PAGCOR 1 1
81 Philippine Center for Economic Development PCED 1 1
82 Philippine Charity Sweepstakes Office PCSO 1 1
83 Philippine Coconut Authority PCA 1 1
199
84 Philippine Crop Insurance Corporation PCIC 1 1

85 Philippine Deposit Insurance Corporation PDIC 1 1
86 Philippine Economic Zone Authority PEZA 1 1
87 Philippine Fisheries Development Authority PFDA 1 1
88 Philippine Health Insurance Corporation PHIC 1 1
89 Philippine Heart Center PHC 1 1
90 Philippine Institute for Development Studies PIDS 1 1
91 Philippine Institute of Traditional and Alternative Health Care PITAHC 1 1
92 Philippine International Trading Corporation PITC 1 1
93 Philippine Mining Development Corporation PMDC NRDC 1 1
94 Philippine National Construction Corporation PNCC 1 1
95 Philippine National Oil Company PNOC 1 1
96 Philippine National Railways PNR 1 1
97 Philippine Pharma Procurement, Inc PPPI 1 1
98 Philippine Ports Authority PPA 1 1
99 Philippine Postal Corporation PPC 1 1
100 Philippine Postal Savings Bank, Inc. PPSBI PPC 1 1
101 Philippine Reclamation Authority PRecA 1 1
102 Philippine Retirement Authority PRA 1 1
Annex E
103 Philippine Rice Research Institute PRRI 1 1
104 Philippine Sugar Corporation PHILSUCOR 1 1
105 PHIVIDEC Industrial Authority PIA 1 1
106 Pinagkaisa Realty Corporation PRC NDC 1 1
107 PNOC Alternative Fuels Corporation PAFC PNOC 1 1
108 PNOC Development and Management Corporation PDMC PNOC 1 1
109 PNOC Exploration Corporation PNOC EC PNOC 1 1
110 PNOC Renewables Corporation PNOC RC PNOC 1 1
111 PNOC Shipping and Transport Corporation PSTC PNOC 1 1
112 Poro Point Management Corporation PPMC BCDA 1 1
113 Power Sector Assets & Liabilities Management Corporation PSALM 1 1
114 Quedan and Rural Credit Guarantee Corporation QUEDANCOR 1 1
115 Small Business Guarantee and Finance Corporation SBGFC 1 1
116 Social Housing Finance Corporation SHFC NHMFC 1 1
117 Social Security System SSS 1 1
118 Southern Philippines Development Authority SPDA 1 1
119 Southern Utilities Management Services, Inc. SUMSI 1 1
200
120 Subic Bay Metropolitan Authority SBMA 1 1

121 Subic-Clark Alliance for Development SCAD 1 1
122 Sugar Regulatory Administration SRA 1 1
123 Tourism Infrastructure and Enterprise Zone Authority TIEZA 1 1
124 Tourism Promotions Board TPB 1 1
125 Trade and Investment Development Corporation of the Philippines TIDCORP/ 1 1
126 Veterans Federation of the Philippines PhilEXIM
VFP 1 1
127 Zamboanga City Special Economic Zone Authority ZCSEZA 1 1
Annex F
List of Government Corporations with

Unsubmitted Financial Statements
Name of Government Corporations Reason for exclusion

A. GCs located in the National Capital Region
1 Millenium Challenge Account - No FSs for CY 2017. Temporary Cessation
Philippines of operations starting on September 22, 2016
until a second Compact is signed with
Millenium Challenge Corporation (MCC) or
until the Government of the Philippines
issues a directive to continue the Entity's
operations.
1 PNOC Malampaya Production No FSs for CY 2017. On November 5, 2013,
Corporation through Board Resolution No. 11-3, S’2013,
the PMPC Board of Directors approved the
amendment to Article IV of PMPC’s Articles
of Incorporation shortening its corporate life
from 50 years to only until December 31,
2013 and to cause its dissolution. This was
affirmed by the stockholders representing at
least two-thirds of the outstanding capital
stock at its special meeting on November 18,
2013. On April 12, 2016, the SEC issued the
Certificate of Amended Articles of
Incorporation amending Article IV by
shortening the term of its existence, thereby
dissolving the corporation.

1 Philippine Aerospace Development Unsubmitted FSs for CY 2017. Management
Corporation Letter was issued in lieu of the AARs.

1 Nayong Pilipino Foundation Unsubmitted FSs for CY 2017. Management
Letter was issued in lieu of the AARs.
B. Stand-alone GC located in the Region

1 Bukidnon Forest, Incorporated Unsubmitted FSs for CY 2017. Management
Letter was issued in lieu of the AARs.
201
PART IV
SUMMARY
OF
AUDIT RESULTS
Part IV
Summary of Audit Results
Pursuant to Section 4, Article IX-D of the Philippine Constitution, the Commission on Audit
shall submit to the President and the Congress, within the time fixed by law, an annual report
covering the financial condition and operation of the Government, its subdivisions, agencies,
and instrumentalities, including government-owned or controlled corporations, and non-
governmental entities subject to its audit, and recommend measures necessary to improve
their effectiveness and efficiency.
The annual report is a consolidation of Annual Audit Reports (AARs) for the calendar year
ended submitted by the heads of the auditing units, through the Commission, to the head and
the governing body of the agency concerned pursuant to Section 43(2) of P.D. 1445.
The respective GC Management is responsible in the: (a) preparation and fair presentation of
the financial statements in accordance with the adopted applicable financial reporting
framework; (b) design, installation and implementation of internal control system necessary
to ensure that the financial statements are free from material misstatement, whether due to
fraud or error; and (c) assessment, and disclosure as applicable, of the GC’s ability to
continue as a going concern.
The primary purpose of the examination of the financial statements conducted by the
Commission on Audit is to render/express an opinion on these financial statements based on
the results of audit. Such audits are in accordance with the requirements of the Philippine
Public Sector Standards on Auditing/International Standards of Supreme Audit Institutions
(ISSAIs) and the pertinent provisions of P.D. 1445. These standards mandate that the audit
comply with the ethical requirements, and that they are planned and performed to obtain
reasonable assurance that the financial statements as a whole are free from material
misstatements.
In accordance with ISSAIs and in the exercise of professional judgment and professional
skepticism throughout the audit, the auditor shall: (a) identify and assess the risk of material
misstatement of the financial statements, whether due to fraud or error, design and perform
audit procedures responsive to those risks, and obtain audit evidence that is sufficient and
appropriate to provide a basis for the opinion on the fairness of presentation of the financial
statements; (b) obtain an understanding of internal control relevant to the audit in order to
design audit procedures that are appropriate in the circumstances, but not for the purpose of
expressing an opinion on the effectiveness on such internal controls; (c) evaluate the
appropriateness of accounting policies used and the reasonableness of accounting estimates
and related disclosures made by management; and (d) evaluate the overall presentation,
structure and contents of the financial statements including the disclosures, and whether the
financial statements represent the underlying transactions and events in a manner that
achieves fair presentation.
The audit of the accounts and transactions of GCs, also includes the following: (a) conduct
of compliance or regularity audit to determine that transactions and operations are carried out
and completed in accordance with the applicable laws, rules and regulations particularly on
the prevention of irregular, illegal, unnecessary, excessive, extravagant, or unconscionable
202
expenditures; and (b) conduct of value for money or performance audit to ascertain the
economy, efficiency and effectiveness in the manner in which agency programs, activities
and projects are carried out.
The AAR includes: (a) expressing an independent auditor’s opinion on the financial
statements; (b) audit observations together with the corresponding recommendations that
provide value-added measures expected to enhance financial reporting, ensure compliance
with pertinent government laws/rules/regulations and enjoin economical, efficient and
effective conduct of government operations; and (c) status of implementation of prior years’
audit recommendations.
The individual AARs on the GCs are published in the COA website at
http://www.coa.gov.ph. These reports provide more detailed information and discussion on
the: results of the audit of the financial statements or accounts and transactions of the GCs;
audit observations and the corresponding recommendations specific to each auditee; as well
as the status of implementation of previous years’ audit recommendations.
Summary of audit opinions

The respective Independent Auditor’s Report rendered on the financial statements of each GC
is presented in Table IV-5 showing the types of audit opinions expressed on the respective
financial statements of the GCs.
TYPES OF AUDIT OPINIONS
Unmodified Modified Opinions
Unqualified Qualified Adverse Disclaimer

“U” “Q” “A” “D”
- is expressed - is expressed when - is expressed when - is issued when the

when the auditor the auditor: the auditor, having auditor is unable to
concludes that (a) having obtained obtained sufficient obtain sufficient
the financial sufficient appropriate audit appropriate audit
statements, in all appropriate audit evidence, concludes evidence on which
material evidence, concludes that the misstate- to base the opinion,
respects, were that misstatements, ment/s, individually and concludes that
presented fairly individually or in or in the aggregate, the possible effects
in accordance the aggregate, are are both material on the financial
with the material, but not and pervasive to the statements of
applicable pervasive, to the financial undetected
Philippine financial statements. misstatements, if
Financial statements; or (b) is any, could be both
Reporting unable to obtain material and per-
203
Unqualified Qualified Adverse Disclaimer
“U” “Q” “A” “D”
Standards and sufficient vasive. The Auditor
Philippine appropriate audit disclaims an
Accounting evidence on which opinion when, in
Standards. to base the audit extremely rare
opinion, but circumstances
concludes that the involving multiple
possible effects on uncertainties, the
the financial state- auditor concludes
ments of undetected that,
misstatements, if notwithstanding
any, could be having obtained
material but not sufficient
pervasive. appropriate audit
evidence regarding
each of the
individual
uncertain-ties, it is
not possible to form
an opinion on the
financial statements
due to the potential
interaction of the
uncertainties and
their possible
cumulative effect
on the financial
statements.
Included in this report are 425 Annual Audit Reports (AARs) with Independent Auditor’s
Report/audit opinion on GCs with submitted financial statements and 29 Management Letters
(MLs) on agencies without financial statements issued for CY 2017, in the National Capital
Region and in the regions, respectively, which represents the total number of AARs and
MLs received as of July 31, 2018, from the Clusters and Regions for this report’s
consolidation.
204
Chart IV-1 Total Opinions Rendered per Type
57.65%
250
200
Qualified
150 245 29.65%
Unmodified/Unqualified
100 Adverse
126 11.53% Disclaimer
50
49 1.17%
0 5
The tabulated details of audit opinions issued for the financial statements of water districts
are presented in Volume II of the AFR.
Summary of significant and common audit observations and corresponding

recommendations
In line with the provisions of P.D. 1445, the AARs, rendered by COA for each and every GC,
discuss in detail the audit observations, recommendations and other necessary and relevant
information needed for the improvement of government operations. The significant and
peculiar observations unique to each agency and those equally significant but common
observations among several GCs included in the summaries were lifted from the AARs on the
GCs and are presented in Tables IV-1, IV-2A and IV-2B presented by agency in alphabetical
order.
In view of the detailed lay-out and agency specific information presented in the individual
AARs, the data and discussion therein shall necessarily prevail over the summarized
information presented in this report.
205
Table IV-1
Summary of Selected Significant and Peculiar Audit Observations and Recommendations

on Government Corporations in the NCR and Stand-Alone Agencies in the Regions
Amount
Selected Observations Recommendations
(in thousands)
Armed Forces of the Philippines Retirement and Separation Benefits System (AFPRSBS)
The AFPRSBS limited working Continuously work towards 563,000
capital of P563 million may result conversion of the majority of the
in its inability to refund in lump investments in real estate, acquired
sum the total contributions assets into cash and investments in
including earned interest to the government marketable securities
officer or enlisted personnel upon which are easily convertible to
separation or retirement from cash. Likewise, pursue collections
military service under Section 4 of of all indebtedness due to the
PD No. 361 as amended by PD AFPRSBS so that it can return to
Nos. 1656 and 1909 or upon the soldiers/members their
liquidation of the System due to contributions upon liquidation of
the issuance of MO No. 90 dated the AFPRSBS or upon
April 8, 2016 whichever comes retirement/separation whichever
first, since the related accumulated comes first.
members’ contributions payable as
at December 31, 2017 amounts to
P10.244 billion.
APO Production Unit, Inc. (APO)

The official receipts (ORs) used for a. Effect the adjustments to correct 2,802,599
the Sales of the APO-UGEC JV to the 2017 Sales/Gross Receipts, 336,312
the four clients were issued and Purchases, Output VAT and
owned by APO, but such Sales Input VAT Accounts;
were not reflected in APO’s
Financial Statements and in the b. Amend the BIR Returns for CY
BIR Returns for CY 2017 resulting 2017 to reflect the correct
in understatement of Sales and Sales/Gross Receipts,
Output VAT amounting to P2.803 Purchases, Output VAT and
billion and P336.169 million, Input VAT Accounts; and
respectively, while ORs issued to
APO by the APO-UGEC JV c. Henceforth, record transactions
representing the Sales were not that transpire on the basis of the
reflected in APO’s Financial existing supporting documents.
Statements and BIR Returns for
CY 2017 as Purchases resulting in
understatement of Purchases and
Input VAT amounting to P2.803
billion and P336.169 million,
respectively.
Various deficiencies were noted in Evaluate the impact on the current NQ

the Joint Venture Security Printing arrangements of the JV with UGEC
Agreement (JVSPA) entered into and consider renegotiating or
by and between APO and United making amendments to the JV
206
Amount
(in thousands)
Graphic Expression Corporation agreement taking into consideration
(UGEC), a private printer, as the following:
follows:
a. lease of UGEC machines by the
a. Lease of UGEC’s machines by JV;
the APO-UGEC JV for the
DFA Project re: e-passport b. share in the income;
printing was not in accordance
with the JVSPA which requires c. APO’s leasehold rights
machines to be owned by the contribution and considering its
JV; contribution in the form of
captured market; and
b. UGEC got bigger earnings/
share from the JV compared d. Transfer of UGEC used
with that of APO; machines to the JV, as its
contribution to the JV.
c. Only 10 percent of the
leasehold rights in the LIMA
Batangas Plant was recognized
as APO’s contribution to the
JV. APO’s contribution in the
form of captured market as
recognized government printer
(RGP) for security printing
services was not considered,
whereby at the time of the
submission of unsolicited
proposal by UGEC for the
creation of a JV, APO, one of
the three RGPs, was the only
RGP which expressed interest
in producing the e-passport
amounting to P38 billion for a
ten-year period from 2016 to
2026; and
d. Machines used in the BIR

Project under the Lease
Agreement dated October 2,
2013 between APO and UGEC
were transferred to the JV as
UGEC’s contribution to the JV,
indicating that the machines
contributed to the JV were
already used.
Bangko Sentral ng Pilipinas (BSP)

Dormant trust funds were not yet Fast track the execution of the 2,077,371
transferred to the National Memorandum of Understanding
Government (NG) despite the with the NG relative to Local
207
Amount
(in thousands)
fulfillment of its purpose for over Counterpart Funds to facilitate the
two decades, contrary to Executive transfer of dormant trust funds; and
Order No. 431, thus, depriving the transfer the remaining balances of
NG of the use of these funds to the Mortgage Credits and Real and
finance other vital Other Properties Acquired to
programs/projects/ activities. Department of Loans and Credits.
Bases Conversion and Development Authority (BCDA)

The completeness and accuracy of Submit the required documents to 5,400,000
the P5.4 billion settlement or share ascertain the propriety of the shift from
of BCDA from the related party’s land development to land sale and
sale and buyback of real estate correctness of the sale and buyback
units, recorded as Miscellaneous transactions amounting to P5.4 billion.
Revenue and the propriety of the
shift from land development to land
sale were not ascertained due to
lack of relevant documents
pertaining to the sale and buyback
of lots developed by the Bonifacio
Global Companies covered by the
Business Resolution Agreement.
The balances of Heritage accounts a. Render an accounting of all the NQ

and proceeds from the development Heritage accounts and the
of the Heritage Park (HP) Project proceeds generated from the
were not accounted as government HP Project that remain
funds. unaccounted in BCDA’s books
of accounts; and
b. Revisit the existing

arrangement with HPMC to
ensure that any and all proceeds
generated from the HP Project
are accounted by BCDA as
government funds.
The land donated to the City of The representatives from BCDA, NQ

Taguig was subsequently leased AFP and the City of Taguig should
out beyond the purpose of the discuss amicably their differences
donation resulting in bypassing and resolve what is fair for the AFP
the AFP’s share in the disposition without resorting to tedious and
of BCDA assets. expensive legal battle. While the
non-adherence to the purpose of the
donation can no longer be undone,
a way to rectify is by adhering to
Section 1(d) (1) of R.A. No. 7917,
to primarily finance the self-
reliance and modernization
program of the AFP. Moreover,
giving the fair share of the AFP is
208
Amount
(in thousands)
indispensable amidst the current
events besetting the country.
Boy Scouts of the Philippines (BSoP)

The continued use of the unreliable a. Pursue immediately the plan to NQ
Integrated TRACC Accounting procure a new and much
System cast doubts on the integrity reliable computerized
of the output/reports generated accounting system; and
therefrom due to instability and
significant errors affecting the b. In the meantime, immediately
following Accounts: Scout resolve the deficiencies noted to
Supplies Inventory, Cost of Goods facilitate the accurate recording,
Sold, and Net Income which reporting and verification of
grossly affected the reliability and accounts.
accuracy of the corresponding
individual account balances and of
the TRACC generated Financial
Statements of BSoP-NSS for
Calendar Year (CY) 2017.
Duty Free Philippines Corporation (DFPC)

Withdrawals of merchandise by the a. Set guidelines and limits for the 19,614
DFPC and its concessionaires withdrawal by concessionaires
using the Gate Pass Slip (GPS) of merchandise for purposes of
which in CY 2017 amounted to corporate gifts such as
US$0.125 million or P6.254 establishing a percentage based
million and US$0.267 million or on the goods brought into/sold
P13.360 million, respectively, were from the DFPC outlets;
considered not compliant with the
requirements of COA Circular No. b. Impose the applicable customs
2012-003 dated October 29, 2012. duties and taxes on the
DFPC averred that the withdrawn merchandise withdrawn from
merchandise were used as the stores especially those with
corporate giveaways/gifts, commercial value; and
although the prices of the items
ranged from US$11 to US$4,150. c. Submit list/s of
company/promotional activities
for the merchandise given by
DFPC as corporate
gifts/giveaways to deter issuance
of a Notice of Disallowance.
Reimbursement made by the Establish guidelines/policies for the 285,221

concessionaires for the cost of proper allocation of the fixed
utilities, maintenance, security, and considerations being charged to the
investment on leasehold concessionaires, as to rent, utilities,
improvements in the total amount maintenance, security and/or
of P285.221 million for CY 2017 investment on leasehold
were credited to the accounts Rent improvement that will serve as
209
Amount
(in thousands)
Expense-Building, Rent Expense- guide for a systematic and
CPF, Electricity, Telephone, reasonable bases for the
Security Services and Salaries computation on the proper shares of
without policies/ guidelines on the the concessionaires.
proper apportionment of the
reimbursements, hence, the
correctness and validity of the
amounts deducted from/credited to
said expenses accounts could not
be ascertained.
The over-remittances of DFPC to Revisit Board Resolution No. 01-4- 344,192
Department of Tourism (DOT) 25-12 and set a fixed recoupment
during the years 1987 to 2009 in annual amount to enable DFPC to
the total amount of P697.114 fully recover the remaining balance
million were not yet fully recouped of the over remittances to the DOT.
despite issuance of DFPC Board
Resolution No. 014-25-12, leaving
a balance of P344.192 million as of
end of CY 2017.
Food Terminal, Inc. (FTI)

Management’s inability to secure a. Prioritize the processing of the 864,600
the Transfer Certificate of Title TCT in the name of the DOTr
(TCT) in the name of the and make representation with
Department of Transportation the DOTr for the immediate
(DOTr) has delayed the remittance payment/ remittance of the
of the remaining 20 per cent balance of P518.760 million;
balance or P518.760 million from
the sale of 34,584 square meters b. Henceforth, conduct thorough
(sq.m.) of land. Moreover, FTI study/ evaluation to determine
incurred opportunity loss of the terms and conditions that are
P345.840 million due to lower most advantageous to the
selling price of P75,000 per sq.m. Agency before entering into
than the most relevant selling price contracts involving the sale of
of lot within the vicinity of FTI’s real properties; and
P85,000 per sq.m.
c. Comply with the requirements
of COA Circular No. 89-296
dated January 27, 1989 on the
disposal/ divestment of its
corporate assets.
Human Settlements Development Corporation (HSDC)

The HSDC-Maharlika Livelihood a. Coordinate with the Office of 10,242
Complex (MLC) did not realize in the Government Corporate
2017 its expected revenues of Counsel to facilitate final
P4.679 million from lease of stalls resolution of the 14 court cases
occupied by tenants with court in order to realize the much
cases due to the 26-year old needed funds and to protect the
210
Amount
(in thousands)
pending cases, despite the fact that interest of the government;
the litigants or tenants concerned
continuously do their business and b. Exhaust all remedies to collect
benefited from the facilities overdue accounts from
thereby exposing government delinquent tenants without
property to abuse. Also, prejudice to legal action
uncollected lease rental provided by law; and
accumulated to P5.563 million at
year-end due to inability to enforce c. Refrain from accepting
the collection of accounts promissory notes from tenants.
receivable with Promissory Notes
and the overdue accounts aged
over three months, thus, affecting
the availability of funds for the
MLC’s operation.
Intercontinental Broadcasting Corporation (IBC) 13

The terms and conditions as stated Rescind the JVA amendments NQ
in the amendments to the Joint which will result in IBC-13 losing
Venture Agreement (JVA) dated its share in the JVA with R-II
March 24, 2010, entered into by Builders; cause inclusion of
and between IBC 13 and R-II amendments that will redound to
Builders Inc./Primestate Venture the benefit of IBC-13; submit the
Inc., showed that the joint venture revised/amended JVA for approval
undertaking had been aborted as by the NEDA and strictly comply
the transaction between the with the regulations pertaining to
contracting parties was tantamount JVA’s.
to sale of the IBC-13 property, thus
the sale transaction was not in
accordance with Section 79 of PD
1445 and Section 2 and 3 of EO
888 dated March 18, 1983.
IBC-13 did not issue Official Issue ORs for all kinds of 18,650
Receipts (ORs) to acknowledge the collections received in compliance
payments made by Asian with Section 68 of PD No. 1445
Television Content/Rare Sales for and Section 237, Chapter II of the
their airtime fees in the total Internal Revenue Code.
amount of P18.650 million
contrary to Section 68 of
Presidential Decree (PD) No. 1445
and Section 237, Chapter II of the
Internal Revenue Code.
Land Bank of the Philippines (LBP)

268 Automated Teller Machines a. Consider terminating the ATM NQ
(ATM) units managed by the Third outsourcing activities of the SP
Party Service Provider (SP) are at the end of contract in August
continuously out-of-cash status 2019;
resulting in clients’ complaints and
211
Amount
(in thousands)
customers dissatisfaction, thereby, b. Enforce to SP the strict
defeating the objective of engaging compliance on the forecasting
their services in improving ATM schedule/ replenishment plan
availability rate/efficiency in cash and permit deviation only if
loading. justifiable; and
c. Strictly comply with the

prescribed schedule of billing
penalties incurred due to
inefficient performance by the
SP in the ATM cash loading and
First Level Maintenance
services pursuant to the Clause
8.a and b of Annex A of the
Term of Reference.
Unrecorded Conditional Cash Require the LBP Batasan branch to 63,839

Transfer (CCT) service fees prepare the necessary accounting
receivable and payments from entries of service fees receivable
Department of Social Welfare and from the 1st to 4th quarters of CY
Development (DSWD) resulted in 2017 and the payments of DSWD
understatement of Accounts for services rendered on the
Receivable – Government Entity distribution of Cash Grants to CCT
(A/R-GE) and Fees and beneficiaries to correct the balance
Commission Income accounts and of the A/R-GE, Fees and
overstatement of Accounts Payable Commission Income and AP
(AP) account. accounts.
Light Rail Transit Authority (LRTA)

The 180 housing units built and Provide information on the plan of 500,000
turned over by the Provincial action for the said 180 housing
Government of Cavite have units as it appears that they
deteriorated but Management has already abandoned the units.
not included in their plan to Provide funds for the
rehabilitate/repair said housing repair/rehabilitation of the 180
units exposing the housing units housing units to prevent further
to further deterioration. deterioration and make it usable
for the families affected by the
extension project.
Manila International Airport Authority (MIAA)

There is a need to revisit the a. Revisit/review the implementing NQ
Implementing Guidelines adopted guidelines and policies
by MIAA on the integration of the governing the PSC Integration
Passenger Service Charge (PSC) to Scheme and make
the airline tickets considering the amendments/revisions or
following: additional guidelines, if
necessary, to address the
a. loss of revenue in the average concerns and protect the interest
amount of P174.366 million per of MIAA;
212
Amount
(in thousands)
year as a result of the 3.5 per b. Include adequate controls and
cent service fee deducted by the monitoring processes;
Air Carriers (ACs) from PSC
collections; c. Create/designate a team that will
focus on the review/audit of the
b. service fee is being charged by Airline’s PSC books/records,
ACs for Locally-Recognized and monitoring of the PSC
Exempt Passengers (L-REP) transactions;
despite non-collection of PSC;
and d. Require the Collection Division
to obtain copies of the Monthly
c. absence of provisions with Summary of Flights and
respect to the nature and Passenger Data as basis in
retention period of PSC from validating the Remittance
unflown tickets not refunded by Report submitted by ACs; and
passengers.
e. Initiate appropriate action to
Moreover, the absence of enforce remittance of the PSC
monitoring system on the for unflown tickets by the ACs.
processes and procedures in the
collection and remittance of PSC
under the integration scheme and
the laxity of the Officials in
acting on the deviations and
deficiencies noted in the said
processes may bar the recovery of
possible claims as a result of
errors or fraud, putting MIAA in
prejudice.
The continued grant to Philippine Follow-up with the Department of NQ
Airlines (PAL) of 65% discount on Justice the status of the
its landing and take-off fees clarificatory letter dated August
anchored from the 1977 Letter of 19, 2015, citing the urgency of its
Instruction (LOI) which is deemed resolution; and/or make
ineffective given the development representation with proper
and condition of the aviation authorities for the repeal of the
industry, resulted in the loss of LOI as appropriate.
revenue averaging P42.82 million
per year based on the five year
collections. Moreover, this
privilege accorded to PAL does not
promote a level playing field
among key players in the domestic
aviation industry.
Metropolitan Waterworks and Sewerage System (MWSS)

The financial statements of the a. Make the necessary reversal of 32,475,984
MWSS are materially misstated the balance of Appraisal Capital
due to the following: Stock and the corresponding
PPE accounts detailing the year-
a. Recognition of the Appraisal end balance of Appraisal Capital
213
Amount
(in thousands)
Capital Stock with year-end Stock;
balance of P28.428 billion due
to revaluation of the MWSS b. Make the necessary correcting
properties in prior years and and reversal entries on the
realization of Appraisal Capital erroneous realization of
Stock to Retained Earnings Appraisal Capital Stock;
totaling P7.955 billion; and
c. Make the necessary reversal
b. Inclusion of disputed claims by entry on the Retained Earnings
Maynilad Water Services, Inc. realized from the valuation of
(MWSI) consisting of the Investment Property; and
borrowing cost amounting to
P4.048 billion despite its d. Record the cost of borrowing
uncertainty of collection in the totaling P4.048 billion in
reported year-end balance of accordance with PPSAS 19
the Other Receivables account regarding contingent assets to
amounting to P5.611 which the realization or
billion. collection of the subject claims
is virtually uncertain, pending
outcome of the local arbitration
proceedings.
The turn-over of MWSS properties a. Reconcile the PMD and Finance 67,279,656
to two concessionaires amounting records and correctly identify
to P67.280 billion per Inventory the turned-over assets to MWSI
Report, upon privatization in CY and MWCI then reclassify to
1997, were not reclassified as Service Concession Asset
Service Concession Assets. account accordingly; and
Further, subsequent construction,
development, acquisition, and b. Coordinate with MWSI and
upgrade of the service concession MWCI to properly account all
assets were not accounted for in subsequent cost incurred
the books. pertaining to the service
concession assets and recognize
the same in the MWSS books
including the corresponding
liability and revenue under the
Grant of Right to the Operator
Model.
The existence of unreconciled/ a. Facilitate the immediate 1,788,155

unverified, abnormal/negative and reconciliation of the
dormant balances totaling P1.788 unreconciled/ unverified
billion of various assets and accounts for fair presentation of
liabilities affected the reliability the Statement of Financial
and accuracy of total asset and Position and provide the
liability account balances contrary details/schedule and other
to Sections 111 and 114(2) of PD available supporting documents
No. 1445. relating to all unreconciled/
unverified accounts;
b. Conduct a thorough review/

analysis of the affected accounts
214
Amount
(in thousands)
to determine the causes of
abnormal/negative balances and
effect necessary adjustments to
reflect the correct balances of the
involved accounts and ensure
that Section 4(8) of PD 1445, as
well as sound accounting
practices are being observed;
c. Intensify efforts to collect the

receivables and exhaust all
viable means to collect the
dormant receivable accounts;
and
d. Conduct comprehensive review,

analysis and reconcile dormant
asset and liability accounts
totaling P145.524 million and
P164.507 million, respectively.
National Dairy Authority (NDA)

The inability of the NDA to a. Facilitate the immediate 21,000
provide the Contractor with 600 provision of the 600 female
surrogate female animals for the surrogate mothers for embryo
production and supply of 600 transfer so that the Contractor
female calves from embryo would be able to execute and
transfer technology caused the deliver the requirements of the
delay in the execution of the contract;
contract in the amount of
P21 million. Moreover, the b. Require the Contractor to submit
advance payment made to the valid irrevocable Letter of Credit
Contractor in the amount of P3.150 or bank guarantee and provide
million was not in accordance with justification for the P3.150
Section 4.5 of Annex D of the million advanced to the
Revised Implementing Rules and Contractor to avoid disallowance
Regulations of Republic Act No. in audit; and
9184.
c. Consider rescinding the contract
and require the Contractor to
return the advance payment of
P3.150 million once it is
determined that the Project could
no longer be implemented.
NDA could have recovered its a. Consider offsetting of accounts 6,683

receivables in the amount of as one of the strategies to collect
P6.683 million from the from suppliers/sellers who have
suppliers/sellers of dairy animals outstanding payable to NDA, in
upon buying-back from them the course of buying-back
animal offspring under the Animal locally produced cattle from
215
Amount
(in thousands)
Buy-Back Program, had the policy them; and
of offsetting of account been
provided in the Memorandum of b. Repossess the previously
Agreement with the beneficiaries dispersed animals if the sellers
of previous animal dispersal and in refuse to pay their animal
the issued Implementing repayment obligations to NDA.
Guidelines on Buy-Back of
animals. The beneficiaries of
NDA’s animal dispersal are now
the suppliers/sellers of the dairy
animals of the Agency who have
likewise outstanding payables to
the NDA in the form of animal
repayment aggregating P77.863
million as of December 31, 2017.
The attainment of the goals and a. Formulate realistic plans, targets NQ

objectives of the NDA’s Herd and activities to ensure
Build-Up Program might be attainment of the goals and
adversely affected by the objectives of the Herd Build-Up
deficiencies in its implementation, Program;
such as: (a) the targets in
importation of dairy animals of b. Maximize, with consideration to
10,000 heads under the Dairy economy and efficiency, the use
Roadmap and 3,300 heads under of allotted budget intended for
the Multi-Year Dairy Animal Capital Livestock Outlay to
Procurement Program were not attain the targeted number of
met; (b) the Artificial Insemination animals to be imported;
(AI) activity yielded a very low
turn-out of only about 4,030 c. Strictly observe the technical
offspring or 12 per cent as against specification indicated in the
the targeted 34,214 animals to be Project proposal agreed upon
procured under the Buy-Back with National Agricultural and
Program; (c) the establishment of Fishery Council regarding the
Dairy Farms Project with approved importation of breedable heifers
budget of P20.333 million since to avoid significant number of
CY 2013 has not yet been mortalities and losses to the
accomplished; and (d) the breeding government;
and upgrading program using the
AI could not be evaluated in the d. Strengthen monitoring activities
absence of records and reports. on animals impregnated with
semen thru NDA’s AI Program
to ensure the procurement of
significant number of animal
offspring under the Animal Buy-
Back Program;
e. Include in the contract or

agreement with recipients of the
AI Program, the requirement
that NDA would have the
216
Amount
(in thousands)
priority to buy offspring of the
animals impregnated with
semen;
f. Require the Field Offices and

concerned Project Development
Officers in charge of the AI
Program to maintain records and
submit reports on the results and
impact of the activity on the
dairy propagation program, for
monitoring and evaluation
purposes; and
g. Facilitate the acquisition and

development of a dairy farm in
Luzon considering its
importance in the dairy animal
propagation and maximize with
consideration to economy the
utilization of the approved
budget granted since
2013.
National Electrification Administration (NEA)

Subsidy releases for the Sitio a. Strictly comply with Section 4 1,695,400
Electrification Program (SEP), of the MOA as agreed by NEA
Barangay Line Enhancement and ECs; and
Program (BLEP), Pantawid
Kuryente: Katas ng VAT (PKKV), b. Require the concerned ECs to
Transition Investment Support Plan immediately liquidate the
– Autonomous Region for Muslim subsidy funded completed
Mindanao (TISP-ARMM), projects by submitting all the
Yolanda Recovery and required liquidation documents
Rehabilitation Plan (YRRP) and such as Accounting of Funds
other calamity grants totaling with its supporting documents to
P1.695 billion remained validate the charges made to the
unliquidated as of December 31, subsidy fund; Certificate of
2017, which is not compliant with Final Inspection and Acceptance
Section 4 of the MOA as agreed by (CFIA) and such other
NEA with various Electric documents to facilitate the
Cooperatives (ECs). closing of the books of both
NEA and the EC’s.
Also, the accuracy of the subsidy
fund due for liquidation as reported
in the Aging Schedule of Due from
NGO/POs as of December 31,
2017 cannot be ascertained due to
improper aging of subsidy fund
releases to various ECs.
217
Amount
(in thousands)
The Accounting of Funds (AF) for a. Require the 10 ECs audited in 157,301
liquidated subsidies under Sitio CY 2017 to return/refund the
Electrification Program (SEP)/ unexpended balances amounting
Barangay Line Enhancement to P63.378 million;
Program (BLEP) with reported
unexpended/ unutilized balance b. Direct the ECs that only
totaling P29.289 million were not related/allowed expenses are
demanded by NEA for immediate charged in the AF;
return, hence not in conformity
with Section 7 of the MOA, c. Require the concerned EC’s to
thereby deprived the government submit required documents for
of funds to utilize for other the release of the remaining
projects. balances amounting to P44.980
million but not to exceed the
Likewise, expenses not related to actual disbursements pursuant to
the project/s or without Section 4 of the MOA;
documentation were not
considered, hence, the reported d. Require the EC’s to submit the
unexpended balance of P29.289 required documents to validate
million per AF have increased to the charges made in the AF
P63.378 million (net of amount together with the supporting
already returned) and the same was schedule of the previous and the
not refunded/remitted to NEA revised AF, for verification and
contrary to Section 4.5.6 of COA adjustment of the total
Circular No. 2007-001 and NEA unexpended balances, otherwise,
Memorandum No. 2013-023. return to NEA the total amount
of P93.924 million;
Further, EC’s with subsidy deficit
totaling P44.980 million is to be e. Monitor the timely return of the
covered with the release of the 10- unexpended balance based on
30 percent remaining/retention the AF submitted by EC on their
balance but not to exceed the liquidation; and
actual disbursement pursuant to
Section 4 of the MOA. f. Ensure that the submitted
liquidation documents are
Moreover, unexpended balance tallied/verified with the reported
amounting to P93.924 million for amounts in the AF and the
projects audited in CYs 2014 – disbursements made was in
2016 remained in the possession of accordance with the MOA to
the ECs. avoid rising of
unexpended/unutilized fund.
National Food Authority (NFA)

The National Government Subsidy a. Ensure that the government 5,100,000
to NFA for CY 2017 in the amount subsidy is used solely for its
of P5.100 billion was used for the intended purpose, particularly
payment of maturing loans; thus, on NFA's Food Security
the intended purpose of the funds Program through procurement
to implement the Food Security of palay and rice importation;
218
Amount
(in thousands)
Program of the Agency might not and
be fully realized.
b. Regularly monitor extent of
utilization of available funds
based on the palay production
during the period to meet or
even exceed the targeted palay
procurement.
The maximum weekly rice a. Require the Managers of NDO, NQ

allocation to retailers provided in CPO, Ilocos Norte PO and
NFA SOP No. GM-DN09 was not Ilocos Sur PO to strictly adhere
properly observed in NDO, CPO, to NFA SOP No. GM-DN09 on
and two POs in RO No. I, resulting the selling/ distribution of NFA
in unequitable rice distribution, rice based on the weekly
thereby defeating the intention of allocation set for each retailer
the allocation system and giving and stop the practice of granting
undue advantage to selected excess allocations to retailers;
retailers which could lead to and
diversion of stocks.
b. Consider enhancing NFA SOP
No. GM-DN09, as amended, to
include a provision which
requires that any increase in the
weekly allocation of retailers be
documented, evaluated and
properly authorized.
The lack of determination of NFA c. Revisit the existing warehousing 184,198

Management to undertake the policies and procedures (SOPs)
necessary legal actions on the to identify the causes of the
shortages of Stock Accountable incurrence of shortages and
Officers (SAOs) aggregating strengthen the measures that
P184.198 million, recorded under will prevent and/or address the
Receivables-Other Receivables- same;
Due from Officers and Employees
account, as required in NFA d. Set up the Agency level
existing policies and guidelines monitoring and evaluation of
hampered the immediate recovery the implementation of the NFA
or settlement of the receivables, SOPs and guidelines on the
thereby depriving the Agency of settlement of shortages
additional funds to finance its particularly on the issuance of
operation demand letters to SAOs with
established shortages within the
prescribed period, filing of the
appropriate administrative,
criminal and civil cases, and
collection of shortages;
e. Prioritize the liquidation of

accountabilities of SAOs who
219
Amount
(in thousands)
are still in active service,
especially those who are nearing
retirement, and leverage on the
role of Senior Accounts
Specialist/Accountant, to
regularly deduct from all
benefits and other resources
accruing the SAO for the
payment of shortages, in order
to ensure NFA’s welfare over
the interest of SAOs;
f. Persistently follow up the early

resolution of the cases of
concerned accountable officers
to effect immediate collection of
their shortages;
g. Initiate/File a Petition for a Writ

of Preliminary Attachment
against the properties of the
concerned SAOs to secure the
satisfaction of any judgment;
h. Closely monitor all pending

administrative and criminal
cases filed against erring SAOs
so that information can be
readily gathered and appropriate
actions can be instituted, if
warranted; and
i. Revisit and/or modify NFA

SOP to consider the delegation
of authority to a lower level
Management regarding the
evaluation and approval of
compromise agreement proposal
of the SAOs on the payment of
their final stock shortages, to
facilitate the process and hasten
settlement.
NFA did not impose the liquidated a. Enforce all available remedies 1,445
damages of P1.445 million and stipulated in the contract, such
terminate the contract with the as but not limited to claim for
Consultant for the Design, liquidated damages, termination
Development, and Establishment of contract and other
of Electronic Integrated Financial appropriate legal remedies;
and Operations Management
220
Amount
(in thousands)
Information System (e-IFOMIS) b. Require the Corporate Planning
Project in the amount of P14.448 and Management Services
million, despite the gross delay of Department-Information System
1,645 days as of December 31, Development Division to
2017 or approximately four and a support with appropriate
half years from June 30, 2013, the documents the reported 96.21
latest time extension granted for per cent project accomplishment
the Project’s completion. as of December 31, 2017 to
Moreover, the reported 96.21 prove the accuracy thereof; and
percentage of completion as of
December 31, 2016 could not be c. Henceforth, rigorously monitor
supported with documents, casting the implementation of contracts
substantial doubt on the actual entered into by the Agency to
accomplishment of the Project and ensure that the terms and
the validity of its implementation. stipulations of the contracts are
Furthermore, the non-movement of strictly enforced to avoid
the percentage of completion of the wastage of public funds, and to
Project since CY 2016 and the lack ensure completion of the project
of specific commitment date to within the agreed period.
complete the same demonstrate
NFA’s inability to compel the
Consultant to abide with the terms
and provisions of the contract,
thereby depriving the Agency the
use of a reliable and exhaustive
financial management information
system.
The rice inventory levels in NFA- a. Devise a more realistic and NQ

National Capital Region (NCR) relevant plan of rice procurement
and other Regional Offices/ and allocation that is aligned
Provincial Offices (POs) in almost with the mandate of NFA,
all months of CY 2017 were way specifically on buffer stocks and
below the mandatory buffer stock at the same time responsive to
requirements of 15 days in each the needs/preferences and
month and 30 days in June, ranging buying capacity of majority of
from as low as 0.12 day to as high the rice consumers to avoid the
as 29.99 days, due to low occurrence of excess or shortage
importation and non-competitive of stocks over buffer
buying price of palay in CY 2017, requirement;
causing rice supply shortages and
higher prices of commercial rice in b. Revisit the allocation of stocks
the market; thus, might had based on classification of each
adversely affected the Agency’s District Office (DO)/PO and re-
ability to achieve its mandate of evaluate determination of Daily
providing stable supply and prices Consumption Requirement to
at all times and had compromised improve inventory status; and
its capability to effectively and
immediately respond in times of c. Strengthen the monitoring of rice
disaster and emergency situations. stocks level to ensure at all times
the availability of the required
221
Amount
(in thousands)
buffer stock levels to attain
Agency’s mandate to respond to
the rice requirements during
calamities and achieve national
food security through stabilized
supply and price of rice.
In NFA-NCR, low distribution rate a. Require the Regional Manager 65,491

in CY 2016 of rice procured in CY of NFA-NCR and Regional
2015 and inefficient Office (RO) No. I to exert efforts
implementation of the First In First to prevent ageing of rice and
Out (FIFO) policy in the issuance avoid incurrence of opportunity
of stocks from the warehouses loss and further losses due to
resulted in the ageing of 325,436 extended storage, through
bags of imported rice, which were vigorous sales especially if
sold in CY 2017 at adjusted price buffer stock levels in the
of P22.50 per kilo through Price warehouses are high, dispersals
Adjustment Mechanism, thereby to other DOs/POs with low
incurring an opportunity loss of buffer stocks and strict
P40.679 million. Moreover, in compliance with the FIFO policy
NFA Ilocos Sur PO, sale of 20,240 required in NFA Standard
bags of CY 2015 ageing imported Operating Procedures (SOP) No.
rice amounting to P24.812 million GM-WH07;
to five grains businessmen through
crisscrossing scheme was b. Require the Regional Manager
inappropriately/ improperly carried of RO No. I and Provincial
out/executed as it was not Manager of NFA-Ilocos Sur PO
approved by the NFA to request authority from the
Administrator; thus exposing NFA Administrator every time
NFA’s rice stocks to diversion, re- they are resorting to Special
bagging or admixture of Distribution Scheme to expedite
government stocks with disposition of ageing stocks as
commercial stocks, thereby required in NFA SOP No. GM-
defeating the Agency Rice DN09.A dated November 20,
Distribution Program’s objective to 2006; and
ensure that prices of staple rice are
reasonable and affordable to the c. Conduct an investigation to
consuming public. determine persons liable on the
sale of 20,240 bags of CY 2015
ageing imported rice to five
grains businessmen through
crisscrossing scheme in Ilocos
Sur PO without authority from
NFA Administrator and impose
appropriate sanctions, if
warranted.
National Home Mortgage Finance Corporation (NHMFC)

A total of 868 foreclosed/ Prepare the necessary adjusting 296,411
garnished accounts with book entries to properly and fairly
222
Amount
(in thousands)
value of P296.411 million which present in the financial statements
were already disposed as of the foreclosed/garnished assets
December 31, 2017 were still which were already disposed.
reflected under the Other Assets
account, instead of Loans
Receivable, contrary to Section 58
of Presidential Decree No. 1445
and paragraph 15 of Philippine
Accounting Standards (PAS) 1,
resulting in the overstatement and
understatement of the accounts,
respectively, by the same amount,
thus affecting their fair
presentation in the financial
statements.
National Housing Authority (NHA)

A total of 274,966 Housing Units a. Coordinate with the concerned NQ
(HUs) or 65 per cent out of the National Government Agencies
total 422,220 HUs targeted under and LGUs to fast tract the
the different NHA Housing issuance of permits, licenses,
Programs were completed as of clearances, and other
December 31, 2017. The low documentary requirements;
percentage of completion was
caused, among others, by lack of b. Limit the construction of the
suitable sites and slow activities on HUs on lots which are
the site. Only 127,225 HUs or 46 topographically suitable for
per cent of the 274,966 completed normal house construction;
HUs were occupied because of
lack of adequate basic facilities, c. Determine the livability of the
incomplete house structural HUs constructed on the
components and constructions topographically unsuitable for
defects, which may eventually lead normal house construction and
to deterioration of the HUs. Thus, require the contractors and NHA
the resettlement of the intended officials to rectify the
beneficiaries is also delayed. deficiencies, otherwise refund
the payments on the projects;
d. Immediately take-over the

construction of HUs for
terminated contracts and
negotiate for its completion; and
e. Impose penalty in the form of

liquidated damages for
defaulting contractors and/or file
appropriate charges, where
warranted.
223
Amount
(in thousands)
National Irrigation Administration (NIA)

The implementation of 436 a. Adhere strictly to the provisions 11,938,315
irrigation contracts/projects with of Section 17.6 of R.A. 9184 and
total contract cost of P11.938 Item 1 of Annex “A” of its
billion resulted in significant Revised IRR that no bidding and
delays, ranging from 2 to 2,558 awarding of contract for
calendar days in view of infrastructure projects be made
inadequate planning, and unless the requisites thereof such
inefficient execution of surveys, as, detailed engineering
investigation, and engineering investigations, surveys and
design. Hence, the farmer- designs, including the
beneficiaries were not able to acquisition of the Right of Way,
timely benefit from the said are duly addressed/complied
irrigation projects, and could with and approved to ensure that
further result in wastage of all contracts are efficiently
government resources when the carried out to avoid delays in the
unfinished / uncompleted contracts implementation of the irrigation
would be terminated. Also, projects;
defaulting Contractors, which 12
contracts in the aggregate cost of b. Require the Managers of the
P68.943 million, were not imposed Implementing Units to:
with liquidated damages and were
granted with contract time  Act with dispatch in
extensions, the validity of which resolving the existing
could not be ascertained due to issues/problems that are
inadequate evaluation and currently hampering/delaying
incomplete documentation. the completion of the
Moreover, increase/decrease in projects;
quantities of work items for 22
contracts with total cost of  Evaluate meticulously and
P552.201 million were considered judiciously requests for
unauthorized, since not covered changes in the scope of
with an approved change/variation works/quantities of work
orders. items and time extensions to
ensure that Change Orders/
Variation Orders (COs/VOs)
and Contract Time
Extensions (CTEs) are duly
approved by NIA
Administrator or his
authorized representative and
both are duly supported with
complete documents; and
 Turn over immediately all

completed and operational
communal irrigation projects
to the concerned Irrigators
Associations (IAs) duly
224
Amount
(in thousands)
covered with Memorandum
of Agreement embodying the
terms and conditions, as well
as the duties and
responsibilities of both the
Agency and the IAs;
c. Require the Accounting

Division/Section of the Central
Office and concerned Regional
Offices (ROs) /Irrigation
Management Offices (IMOs) to
immediately enforce liquidated
damages for projects that
incurred negative slippages
without valid justification and
approved time extensions;
d. Consider rescinding/
terminating the contracts and
forfeit the contractor’s
Performance Security for
projects with negative slippages
of more than 15 per cent
resulting from contractor’s fault
or negligence;
e. Instruct the Legal Department

and the Internal Audit Services
Department to:
 Conduct investigation to
determine persons
responsible for: (i) not
imposing liquidated
damages; (ii) approving/
granting of COs/VOs and
CTEs without proper
evaluation and
documentation; (iii) not
terminating the contracts that
incurred huge negative
slippage due to contractor’s
fault; (iv) allowing
replacements of the key
personnel without proper
evaluation and approval; (v)
payment of advance
payments and progress
billings based on incomplete
supporting documents, such
225
Amount
(in thousands)
as, evaluation of the quality
of work delivered; and
 File appropriate case against

the person responsible, if
warranted.
f. Direct the concerned Project

Management Offices and
ROs/IMOs to immediately
submit to the Audit Teams for
audit purposes, the lacking
documents supporting the
advance payments, PBs and;
henceforth, ensure adequate
supervision over the
implementation of the
contracts/projects.
The Prior Period Adjustments Strictly comply with PPSAS No. 3 2,768,702
(PPAs) aggregating P102.632 in presenting correction of prior
million and P2.667 billion in period errors by restating the
Combined Statement of Changes in comparative amounts for the
Net Assets/Equity (SCNA/E) for period/s presented in which errors
calendar years (CYs) 2017 and occurred and provide adequate
2016, respectively, directly disclosure in the Notes to FSs; and
presented in the SCNA/E instead submit list/schedules showing the
of restating the affected accounts in details of the PPAs supported with
which errors occurred contrary to complete/appropriate
Philippine Public Sector documentation.
Accounting Standard (PPSAS) No.
3, which could mislead the users of
the financial information.
Likewise, these adjustments have
no disclosures and lacked
appropriate supporting documents.
Consequently, the fair presentation
of the financial statements as a
whole was adversely affected.
National Power Corporation (NPC)

The Trust Accounts (PSALM) a. Derecognize the contingent 40,992,590
consisting of P3.504 billion in liability amounting to 44,699,698
total assets, P42.930 billion in P40,992,590,278.03 from the
liabilities or a net Trust Liability OMA Trust Accounts and
to PSALM in the amount of disclose in the Notes to Financial
negative P39.426 billion and Statements the latest
negative P38.450 billion as of developments of the case, citing
December 31, 2017 and 2016, therein the extent of NPC’s
respectively, was not fairly participation in the case and the
presented in the financial possible financial and/or non-
226
Amount
(in thousands)
statements as required in the financial impact to the
Conceptual Framework for Corporation, if any; and
General Purpose Financial
Statements due to (i) the b. Continue efforts to reconcile the
recognition of obligations OMA Trust accounts with the
arising from court decisions PSALM’s Trust Asset with NPC
totaling P40.993 billion in the and make the necessary
Trust Accounts maintained under adjustments where appropriate.
the current Operation and
Maintenance Agreement (OMA)
between PSALM and NPC
which was found unacceptable
based on the recent Supreme
Court decisions and IPSAS 19 on
Provisions, Contingent
Liabilities and Contingent
Assets; and (ii) non-
reconciliation against Assets
Held in Trust with NPC the
reciprocal account maintained by
PSALM, in the amount of P8.398
billion resulting in a variance of
P44.700 billion.
Due to lack of government policy Conduct a comprehensive NQ

on UCME reduction/ graduation, analysis/ study of the
the electric consumers connected implementation of the UCME
to the main grid are made to Subsidization Program and make
subsidize the electricity representations with the
consumption of the off-grid Department of Energy on the
commercially viable electricity urgent need to formulate a
consumers, thus defeating the UCME Subsidy Reduction/
purpose of the UCME Subsidy Graduation Program.
Program, which in CY 2017 the
ERC-approved UCME increased
to P8.388 billion.
National Tobacco Administration (NTA)

NTA undertook the overall Consider the involvement of 997,513
supervision of the implementation National Irrigation Administration
of 137 irrigation projects of 79 (NIA) in the implementation of its
Local Government Units (LGUs) on-going and succeeding irrigation
in the CAR and Region I projects under Irrigation Support
aggregating P969.596 million, and Project for Small Tobacco Farmers
direct implementation of four (ISPSTFs) since NIA has the
projects in Sinait, Ilocos Sur and mandate to plan, design, construct
one project in Solsona, Ilocos and/or improve all types of
Norte totaling P27.917 million, or irrigation projects.
a total of P997.513 million in CYs
2014-2017 which were not in
consonance with its mandate as
227
Amount
(in thousands)
provided under Executive Order
No. 245.
The Tobacco Dust Production a. Enhance marketing strategy 33,762

Agribusiness Project (TDPAP) specially in the information
located in Sto. Tomas, La Union dissemination aspect to promote
incurred a total loss of P32.883 the use of tobacco dust as an
million since it started operations organic fertilizer and to increase
in 2009 due to poor planning and the sales/revenue of the project,
execution thus, casting doubt on considering that the by-product
the ability of NTA to pursue the is organic which is effective for
objective of the project. In fishponds and the environment
addition, the Employees’ Quarter as a whole;
of TDPAP with a net book value of
P0.879 million remained idle. b. Develop alternative business
option for the tobacco dust plant
in the event that it will no longer
pursue its operation such as offer
for lease or disposal of the plant
so as not to waste government
funds and property; and
c. Study prudently the status and

possible utilization of the
Employees’ Quarter of TDPAP
and develop an alternative use
for it so that economic value will
be derived. Moreover, assess the
benefits that can be derived
therefrom over the cost to
prevent further wastage of funds.
AgriPinoy Tobacco Farmers’ a. Stop the continuous incurrence 83,075

Processing and Trading Center of electricity, security services
(NTA AgriPinoy) Milling and general services expenses at
Complex worth P83.075 million the AgriPinoy Milling Complex
was not utilized for its intended if NTA cannot identify the
purpose resulting in wastage of source of income that can sustain
government funds. the maintenance expenses of the
project;
b. Conduct machine testing to

reassess the performance of
machineries and equipment;
c. Engage the services of a licensed

appraiser to determine the
current value of the machineries
and equipment and be able to
assess possible impairment loss;
228
Amount
(in thousands)
d. Formulate a proper action plan
on how to manage or utilize the
assets of the milling complex
with the end in view of reducing
the loss and expense of the
government; and
e. Prepare a three to five year- term

plan that will lay down the
actions to be taken, procedures
and requirements, estimated
expenses and projected cash flow
statement showing the net cash
to be generated as a result of
choosing an option.
National Transmission Corporation (TransCo)

The earned revenue portion in the a. Amortize the earned revenue 44,220,446
amount of P44.220 billion and portion of the liability account
P27.207 billion as of December and recognize revenue account
31, 2017 and 2016, respectively, of to correct their ending balances
the Deferred Credits/ Unearned pursuant to PPSAS 32; and
Revenue account, for the NGCP-
funded completed concession b. Require the Asset Management
assets remained not amortized and Property Accounting
over the term of the service Division to reconcile the
concession arrangement from the reported variance of P9.228
commencement of the Concession billion, thereafter, conduct
Agreement required under inspection and validation of
paragraphs 24-25 of PPSAS 32 and assets not yet recorded in
variance in the amount of P9.228 TransCo’s books.
billion between the balance per
TransCo’s books in the amount of
P44.220 billion and the balance
confirmed by the Concessionaire
totaling P53.448 billion, rendered
the Deferred Credits/Unearned
Income not fairly presented in the
Financial Statements contrary to
PPSAS 1.
The “FIT All Fund” has no Comply with the remedies 7,698,424
sufficient fund to settle/pay in full provided in the Guidelines of ERC
its monthly obligations to Eligible Resolution No. 24, series of 2013,
RE distributors resulting in an such as:
overdue payable to Renewable
Energy (RE) Developers in the a. Section 1.4.2 paragraph 4,
amount of ₱7.530 billion and when the WCA depleted by
interest payable of ₱168.680 more than 50%;
million due to the following
reasons: b. Section 1.5.1 in submitting the
229
Amount
(in thousands)
a. The application for Approval of application for the following
FIT-All for CY 2017 was not year FIT rates;
yet approved by the ERC.
Thus, the FIT rate for CY 2016 c. Section 2.2.7.1 when the
at ₱0.1830/kWh was applied collecting agents failed to
during the year which resulted remit their collections in full;
to lower annual FIT sales and
compared to the annual FIT
Differential payable to RE d. Enforce strict compliance with
Developers; the timeline set for the
remittance of collection of FIT
b. Non - filing of an application sales by CA to avoid
for adjustments with the ERC additional interest and
when its WCA depleted by penalties.
more than 50%, a remedy
allowed under paragraph 4,
Section 1.4.2 of the guidelines;
c. Failure to strictly follow and

implement the provisions in
Section 2.2.2.1 of ERC
Resolution No. 24, Series of
2013, the timeline for the
remittance of FIT-All
collections by the Collecting
Agents which resulted to an
additional interest expense of
₱43,933,270.82; and
d. Failure of three Distribution

Utilities (DUs) to render
monthly energy sales report and
remit the amount collected to
the FIT-All Fund deprived the
Fund of additional FIT sales of
₱41,076,053.73.
Natural Resources Development Corporation (NRDC)

The reliability of the balance of a. Locate all documents that 122,609
other assets account of P122.609 would support the Other
million as at December 31, 2017 Assets - Others account
was doubtful due to the absence of recorded in the books; and
documents to establish the bases of
recognition and measurement of b. Make necessary adjustments
assets recorded under this account, for assets that do not meet the
which is not in accordance with criteria of recognition and
Conceptual Framework of measurement under the
Financial Reporting. Conceptual Framework of
financial Reporting.
230
Amount
(in thousands)
Nayong Pilipino Foundation (NPF)
Management did not implement Hasten the implementation of the NQ
the NPF Reorganization Plan GCG Memorandum Order No.
approved by Governance 2017-01 dated February 24, 2017
Commission for GCs, thus, there which approved the NPF
was no change in the number of Reorganization Plan. Coordinate
filled up plantilla positions with Civil Service Commission to
including that of the Finance and facilitate the recruitment of
Accounting which adversely qualified personnel.
affected the operations of the
agency and the non-preparation of
the financial statements.
North Luzon Railways Corporation (NORTHRAIL)

Management has not established Establish the liabilities of NQ
the liabilities of officials and officials and employees
employees responsible for the responsible for the inefficient and
inefficient and ineffective ineffective implementation of the
implementation of the NORTHRAIL Project and take
NORTHRAIL Project and has not appropriate actions thereon.
taken appropriate actions thereon.
People Television Network, Inc. (PTNI)

Liquidated damages amounting to a. Strictly comply with Annex D, 67,179
P67.179 million were not imposed Section 3.1 of the Revised IRR
on various suppliers who incurred of RA 9184, on the imposition
delays in the delivery of contracted of liquidated damages due to
good/services contrary to Annex D, late deliveries of the procured
Section 3.1 of the Revised goods and services;
Implementing Rules and
Regulations (RIRR) of the RA b. Ensure collection/ recovery of
9184 (Government Procurement the liquidated damages from
Act) the concerned
suppliers/contractors through:
(i) reduction of the amounts
due them in other
projects/contracts; (ii) the
retention previously withheld
and not yet released by PTNI;
and (iii) send collection letters;
and
c. Rescind contracts wherein

liquidated damages for late
deliveries have already
reached 10 per cent of the
contract amount pursuant to
the requirements of the RIRR
of RA 9184.
231
Amount
(in thousands)
Philippine Amusement and Gaming Corporation (PAGCOR)

The continued differing Cause the recording in the books of 22,844,000
interpretation of the clause the liability amount of P23.780
“aggregate gross earnings” from its billion representing under
Franchise is not in accordance with remittance of the 50 per cent NG
the provision of Section 12, share for CYs 2011 to 2017,
Presidential Decree (PD) No. 1869 mandated under PD No. 1869, net
and Section 26 of Republic Act of the over remittance of the 50 per
(RA) No. 6847, otherwise known cent cash dividend pursuant to
as “The Philippine Sports Section 3 of RA No. 7656 totaling
Commission (PSC) Act”, thereby P6.907 billion; and the recording in
casting doubt on the accuracy and the books of the liability to PSC in
reliability of the year-end reported the amount of P1.631 billion,
balance of the liability account representing under remittance for
amounting to P22.844 billion. CY 2017, once the Supreme Court
has disposed of the case against
PAGCOR with finality.
Philippine Charity Sweepstake Office (PCSO)

The recorded balance of the share Effect the necessary adjustment/s to 243,042
of Local Government Units correct the P243.042 million
(LGUs) account was overstated by overstatement of the Share of LGUs
P243.042 million as of December account as of December 31, 2017
31, 2017 due to the non-reversal of and present the correct expenses in
the CY 2016 accruals affecting the the Statement of Charity Fund
subject account, resulting in the Utilization for the period ended
overstatement of the Charity Fund December 31, 2017. Direct the
expenses presented in the Accounting and Budget Department
Statement of Charity Fund to safeguard against inaccurate or
Utilization for the period ended misleading information in the
December 31, 2017. keeping of accounts.
Philippine Children’s Medical Center (PCMC)

No separate bank account was Maintain separate bank account/s 152,989
maintained by PCMC for the for the various trusts funds in line
various funds transferred by DOH with the DOH requirement.
which practice was not in
accordance with the Memoranda of
Agreements between the two
parties.
Charges for actual expenses a. Strictly follow the Special 46,327

incurred for the Medical Provisions of the 2017 GAA and
Assistance Fund Program of the the guidelines embodied under
DOH exceeded by P46.327 million DOH Administrative Order No.
and sometimes the PCMC 2017-0003 on the grant of
approving officers exceeded their medical assistance to indigent
approval limitation which were not patients to avoid exceeding the
232
Amount
(in thousands)
in accordance with existing approved appropriation for the

government rules and regulations MAP funds;
on the utilization of government
funds. b. Refrain from using other funds
specially trust funds to cover for
the shortage in the MAP related
expenses pursuant to the
requirements of P.D. 1445;
c. Submit immediately to DOH (a)

request for reimbursement and
(b) liquidation report; and
d. Refrain from approving

expenditures for the MAP in
excess of his limitations on
approval required by DOH.
Philippine Coconut Authority (PCA)

The evaluation of Agency’s a. Consider creating a Unit to NQ
performance is deficient in the perform monitoring and
absence of a specific unit to evaluation of resources and the
perform monitoring and evaluation Agency’s overall performance or
of resources as spelled out in tap the Internal Audit Division to
PCA’s Quality Management perform such functions as
Systems Manual, and to prescribed under Philippine
communicate the results to top Government Internal Audit
Management for decision making. Manual;
Consequently, progress monitoring
reports and their supporting b. Require the Budget Division,
financial reports, such as, Budget Corporate Planning Services and
and Financial Accountability Operations Department to
Reports (BFARs) and Budget regularly prepare, on the manner
Execution Documents (BEDs) prescribed, the consolidated
required by the Department of BEDs and BFARs and submit
Budget and Management (DBM) these reports to concerned
and, evaluation and monitoring offices as required under DBM
reports required under various Circular Letter No. 2016-9 dated
projects’ guidelines were not October 27, 2016 and COA-
prepared; physical accomplishment DBM Joint Circular No. 2014-1
reports were not reviewed and dated July 2, 2014; and
evaluated; and success indicators
were not measured. c. Instruct the Regional Offices
(ROs)/Centers to regularly
submit the monitoring and
evaluation reports to the Central
Office for review and as inputs
in planning and decision making.
233
Amount
(in thousands)
Efficiency and economy in the Require the concerned ROs to: 14,865
implementation of Accelerated
Coconut Planting and Replanting a. Cause the immediate delivery of
Project (ACPRP) in the total the remaining seedlings from the
amount of P14.865 million in RO supplier and impose liquidated
Nos. IV-A, I-IVB, VIII, IX and damages thereon due to delay in
XIII were not assured in view of the delivery;
various deficiencies, such as,
among others: (a) incomplete and b. Ensure that Provincial
delayed delivery of 377,000 Agriculturist/PDCMs strictly
coconut seedlings amounting to comply with the project’s
P9.987 million under ACPRP – guidelines in the evaluation of
Indigenous People’s Outreach the eligibility of the farmer-
Program (IPOP); (b) payment of participants to receive cash
incentives totaling P4.000 million incentives and coconut
to farmers-participants who did not seedlings; and
meet the pre-condition requirement
of the Participatory Coconut c. Require the Coconut
Planting Project (PCPP); (c) Development Officers to explain
doubtful validity of payment of the deficiencies noted in the: (i)
cash incentives in the total amount payments of cash incentives and
of P498,062 and distribution of (ii) distribution of coconut
coconut seedling in the amount of seedlings with doubtful validity
P54,730; and (d) distribution of and without conduct of soil
9,507 seedlings without soil suitability assessment. Hold
assessment that resulted in them accountable, if warranted.
mortality of the seedlings costing
P254,046.
Philippine Crop Insurance Corporation (PCIC)

The Agri-Agra Funds (AAF) a. Instruct the Finance Department 1,853,000
totaling P1.853 billion were not to communicate in writing to
transferred on a quarterly basis by BSP requesting SAs to support
the Bangko Sentral ng Pilipinas the funds transferred to PCIC, as
(BSP) to the account of PCIC in required in Subsection 15.2 of
CYs 2014 and 2017, and were not the IRR;
supported with Statements of
Account (SAs), contrary to b. Require the Accounting Division
Subsection 15.2 of the to verify and check the
Implementing Rules and completeness of remittances
Regulations (IRR) of Republic Act made by BSP once the SAs are
(RA) No. 10000 or the “Agri-Agra received from BSP; and
Law;” hence, the completeness of
the amounts credited to PCIC c. Establish a separate bank
account could not be determined. account for AAF to facilitate
Moreover, the absence of a recording, monitoring and
separate bank account maintained reporting purposes, which shall
for the Fund may result in the be reconciled on a regular basis
unauthorized use for other with the schedule or report
purposes other than for insurance. maintained by the Accounting
234
Amount
(in thousands)
Division.
The PCIC was not able to regularly a. Instruct the Accounting Division 249,046
collect the 10 per cent of the net to determine the years within
earnings of Philippine Charity which PCSO was not able to
Sweepstakes Office (PCSO) from remit to PCIC its 10 per cent
lotto operations as payment of share in the net earnings from
government subscription, lotto operation and communicate
mandated under Section 6.5 of RA in writing to PCSO of its arrears
No. 8175 dated December 20, supported with schedule; and
1995, thus depriving PCIC of
additional funds of P249.046 b. Instruct the Collecting Officer
million, representing unpaid and Accountant to provide
subscription of the National complete information in the
Government. Official Receipt and Journal
Entry Voucher as to the nature of
collection as basis in recording
in the Cash Receipts and
Deposits Journal and General
Journal, then to the General
Ledger, to facilitate monitoring
of remittances made by PCSO.
The Revised Implementing Consider the inclusion of policy 2,500,000

Guidelines (RIG) on the utilization and procedures in the RIG on the
of the Government Premium utilization of GPS received from
Subsidy (GPS) of P2.500 billion the NG on how it will be pro-rated
received from the NG for Registry to targeted beneficiaries in each
System for Basic Sectors in recipient municipality to ensure that
Agriculture (RSBSA) Program did control mechanism is in place, such
not provide policy and procedures as but not limited to, list of targeted
on how it will be prorated to farmers/fisherfolk and their
targeted beneficiaries in each addresses so that all eligible
recipient municipality to ensure farmers be given equal opportunity
that control mechanism is in place to avail of the free insurance
so that farmers and fisherfolk who program of the government.
had already availed of the program
in previous years’ would not be
entitled to another free insurance,
until all the 6,845,747 farmers and
fisherfolk included in the RSBSA
list have been served to give equal
opportunity to all eligible
beneficiaries.
Philippine Economic Zone Authority (PEZA)

Encroachment by informal settlers a. Mobilize projects and activities NQ
on PEZA proclaimed land areas with the purpose of reclaiming
has increased due to the lack of and securing land areas to which
effective action by Baguio City PEZA is lawfully entitled; and
235
Amount
(in thousands)
Economic Zone (BCEZ), thus
reducing land area that can be b. Require BCEZ to augment its
developed for existing locators and security personnel to deter new
prospective investors informal settlers.
Philippine Fisheries Development Authority (PFDA)

PFDA did not strictly enforce its a. Update PFDA Office Order 32,847
Guidelines and Procedures for the (OO) No. 25, Series of 2001 to
Processing of Application for include policies on
Lease/Use of Port Facilities/ Assignment/Re-Assignment of
Services and Preparation, Renewal Lease Contract by the lessee and
and Termination of Contract on the prohibition of the renewal of
lease of 16 clients-lessees at the Contract of Lease with still
Estate Development and Pop Cola unexpired period;
areas of the Navotas Fish Port
Complex (NFPC), and six lessees b. Strictly enforce/ implement all
of the Davao Fish Port Complex the policies provided under
(DFPC) that resulted in PFDA OO No. 25, Series of
accumulation of uncollected rental 2001 and the terms and
and loss of revenue amounting to conditions stipulated in the
P28.572 million and P4.275 Contract of Lease;
million, respectively, or a total of
P32.847 million. c. Instruct the Credit Officer of the
Central Billing Unit to exert
diligent effort to collect overdue
accounts;
d. Direct the Accountant to

maintain a separate subsidiary
ledger for each Contract of
Lease to facilitate verification of
the account at any given period
of time;
e. Determine the reasonable period

of time to be spent by concerned
personnel in reviewing
application for restructuring of
overdue account of applicants to
avoid delay in the review
thereof, thereby ensuring early
collection of the long overdue
account;
f. Direct the NFPC Port Manager

to assign personnel who shall
maintain and review regularly
the Contract Monitoring Index
and prepare the Notice of
Contract Expiration, as the need
236
Amount
(in thousands)
arises;
g. Require the NFPC Port Manager

to:
 Assign personnel who will

conduct regular ocular
inspection of the rented
areas, so that those clients-
lessees with expired contract
who have abandoned their
area will no longer be billed
and, the area will be opened
for lease to generate
additional funds;
 Encourage the lessees to

apply for restructuring of
their overdue accounts, thus,
collection of these arrears
could be made;
h. Instruct the NFPC and DFPC

Port Managers to renew the
Contracts of Lease of those
clients-lessees with expired
contracts and without overdue
balance but were allowed to
continue occupying their areas;
thus, both parties will be
protected in the event of any
dispute arising from the contract;
and
i. Direct the Office of the Port

Manager and Legal Division to
strictly enforce the Demand
Letter, Notice of Repossession,
Final Demand to Pay and Notice
of Closure, Confirmation Letter
and Notice to Vacate issued to
avoid further accumulation of
uncollected/unpaid rental.
Defects and damages, such as For PFDA-Iloilo Fish Port 30,660

cracks, depressions, and dislocated Complex Management to
blocks, on the recently completed coordinate with the Technical
and turned over San Jose de Services Department (TSD),
Buenavista Municipal Fish Port PFDA-Head Office for the latter to:
(MFP) in San Jose, Antique,
costing P30.660 million, were a. Verify and evaluate the details of
237
Amount
(in thousands)
provided by the Project Contractor the damages inspected on
with only temporary remedies November 2, 2017 and the issues
while the project is still under the and concerns tackled during the
warranty period. Thus, the multi- conference between the PFDA
million MFP has been exposed to and the Contractor on November
risks of further deterioration and 9, 2017;
huge financial losses even before it
becomes operational and beneficial b. Assess and resolve the claim of
to the port-users of the Province of the Contractor that the damages
Antique. were brought about by force
majeure; and
c. Enforce appropriate actions on

the parties identified to be
responsible for structural defects
or failures, if warranted.
One Ice Plant and Ice Storage a. Require the Head of TSD to 57,256
(IPIS) facility and three MFPs in conduct exhaustive survey of the
the Provinces of Mindoro and proposed/identified fish port site
Quezon, and the Bicol Region with as basis for the preparation/
aggregate cost of P57.256 million submission of the feasibility
are non-operational due to, among study on the marketing and
others, insufficient capacity of economic benefits, viability and
generator installed, narrow sustainability of the project prior
causeway, and absence of to approval and implementation,
Municipal Ordinance on the thereby ensuring that its intended
operation of the MFP, thereby purpose would be attained and
defeating the intended purpose of ultimately safeguard government
improving the efficiency in funds from possible wastage;
marketing and distribution of fish
and fishery/aquatic resources and, b. Make representation with the
resulting in the wastage of Municipal Government (MG) of
government funds. Bongabong for the immediate
installation of the electricity to
facilitate turn-over of the IPIS;
and
c. Require the Head of the

Operations Services Department
to meet with the concerned
Municipal Government officials
to thresh out issues on the failure
to operate the IPIS and MFPs
and determine appropriate
actions to be undertaken thereon.
Philippine International Convention Center, Inc. (PICCI)

PICCI funds were invested in non- Consider the premature termination 20,000
government issued bonds contrary of the investment in non-
238
Amount
(in thousands)
to the provisions of Administrative government issued bonds, if
Order No. 173 and DOF Circular warranted, and invest the fund in
No. 6-90, thereby exposing PICCI government securities in
to risk of potential loss of fund. conformity with the provisions of
Administrative Order No. 173 and
DOF Circular No. 6-90.
Philippine Mining Development Corporation (PMDC)

The revaluation of Exploration and a. Regularly appraise the EEAs, 264,891
Evaluation Assets (EEAs) totaling either every three or five years,
P264.891 million as of December pursuant to PAS 16; and
31, 2017 has not been undertaken
regularly, as these assets were last b. Assess the EEAs for
revalued in November 2007 or 10 depreciation/impairment and
years ago, and not all depreciable review their residual value and
EEAs were depreciated/ impaired, useful life at least at each
which is not in accordance with financial year-end.
Philippine Accounting Standards
(PAS) 16, resulting in
undetermined carrying value of the
assets at year-end.
Philippine National Construction Corporation (PNCC)

Unconverted debts of PNCC to the Recognize the P5.552 billion 5,551,727
National Government of P5.552 unconverted debts as liability in the (unconverted
billion were recorded as equity, books of accounts of PNCC, debt)
instead of liability. instead of equity, together with the 59,804,564
interests and other charges thereon (interests &
of P59.804 billion as of December penalties)
31, 2017.
Philippine National Railways (PNR)

The valuation of the Land with a. Review records pertaining to the 40,010,679
year-end balance of P40.011 land account to determine
billion was based on the zonal correctness and prepare updated
valuation made in 2012 contrary to list of land owned and sold;
Philippine Application Guidance
(PAG) 1 of PPSAS No. 17 which b. Provide sufficient documents
provides that for consistency and that can clarify why some
uniformity, the cost model shall be parcels of land were omitted on
adopted for all classes of PPE. the schedule of land owned by
PNR. Furthermore, if it is the
result of an unintentional
omission, adjust the schedule
and include the omitted parcels
of land;
c. Determine the reasons for double

recorded lands and the personnel
involved in the erroneous
239
Amount
(in thousands)
preparation of the Schedule.
Require the concerned personnel
to make the necessary
corrections to come up with
correct balances;
d. Review regularly the

transactions so that errors can be
easily detected and adjustments
can be made complete with
adequate supporting documents
and computations;
e. Establish why the lands located

in the Bicol province are not
registered in the name of PNR in
order to facilitate the transfer of
Certificates of Title in the name
of PNR;
f. Make representation with HGC

and provide a plan or course of
action to get back the
certificates of land titles for the
67 parcels of land; and
g. Investigate what lead to the loss

of the 71 land Certificates of
Title and provide an update on
the status of its reconstitution.
Philippine Reclamation Authority (PRecA)

Some provisions of the Operations Study the options available to NQ
and Maintenance Agreement protect the interest of
(OMA) entered into by PrecA with government/PrecA in the MCTEP
Cavitex Infrastructure Corporation because of the adverse effects of the
and Toll Regulatory Board relative arrangement under the OMA, and
to the Manila Cavite Toll the deletion of several control
Expressway Project (MCTEP) measures under the Toll Operation
appear to be disadvantageous to the Certificate, Toll Operation
Government/PrecA. Agreement and the Joint Venture
Agreement to enable Management
to effectively monitor the
conditions for the realization of the
60 per cent PrecA share on the toll
revenue.
Philippine Retirement Authority (PRA)

The contingent liability of PRA on a. Require the Accounting Division 95,924
the visa deposits of member- to disclose in the notes to the
retirees with the closed financial statements information
240
Amount
(in thousands)
bank/defunct Bankwise, Inc. relative to the contingent liability
totaling P95.924 million was not of PRA as regards the visa
disclosed in the notes to the deposits placed with the closed
financial statements. bank;
b. Coordinate with the PDIC on the

status of the retirees’ deposits
with the defunct Bankwise, Inc;
and
c. If warranted, initiate legal action

against the officers of the
Bankwise, Inc. to recover the
deposited funds.
Philippine Rice Research Institute (PRRI) – Regional Office No. III

The Institute failed to provide the a. Prioritize the provision of the NQ
needed seed drying and seed needed seed drying and seed
processing facilities to the Plant processing facilities to the
Breeding and Biotechnology PBBD;
Division (PBBD) which resulted in
the breeder seed (BS) production b. Instruct the PBBD to (i) refrain
efficiency rating to drop to just from using the road in drying
47.22% for the CY 2017, or seeds; and (ii) exert more effort
22.78% short of its 70% target. in order to beat the Institute’s
Meanwhile, the efficiency ratings efficiency target for BS
for the Institute’s foundation seeds production; and
(FS) and registered seeds (RS)
production also failed to attain its c. Instruct the Business and
target, resulting in the Institute’s Development Division to (i)
failure to adequately supply the revisit its FS and RS production
demands of its accredited procedures to identify the real
foundation and registered seed cause of its inability to attain the
growers which may also have a targeted efficiency ratings for
negative effect in the country’s bid their FS and RS production; and
for rice self-sufficiency. (ii) find ways on how to increase
the quantity of FS and RS seeds
available for sale.
Philippine Sugar Corporation (PHILSUCOR)

Credit financing aggregating Assess PHILSUCOR’s operations 208,088
P208.088 million in CY 2017 was and viability to operate as a going-
extended/granted by PHILSUCOR concern entity, and seek
to private corporations, Governance Commission for
cooperatives, foundations and Government-Owned and Controlled
single proprietorships which is not Corporations’ intervention to
in accordance with its mandate of properly address: (a)
providing financing in the PHILSUCOR’s inability to serve
acquisition, rehabilitation, and/or the purpose for which it was created
expansion of sugar mills, refineries due to the absence of clients for the
241
Amount
(in thousands)
and other related facilities, thereby acquisition, rehabilitation, and
defeating the primary purpose for expansion of sugar mills, refineries
which it was created by virtue of and other related facilities; and
Presidential Decree No. 1890. (b) its credit financing program
Moreover, its credit financing to which is not only unrelated to its
sugarcane farm workers is a mandate but also a duplication of
duplication of the Sugar SRA’s Socialized Credit Program
Regulatory Administration’s funded by the SIDA.
(SRA) Socialized Credit Program
under the Sugar Industry
Development Act (SIDA).
PNOC Shipping and Transport Corporation (PSTC)

Inaccurate recording of cash a. Require the Accountant to 28,769
transferred to PNOC amounting to immediately analyze and review
P18.368 million and cash the Due to Parent account and
withdrawn therein amounting to ensure that only payables to
P10.400 million in the Due to Parent Corporation are included;
Parent account which is not in and
conformity with Section 112 of PD
1445, Section 2.2 of COA Circular b. Provide COA the necessary
2015-010 and Paragraphs 31, 33 documents to support the debits
and 60 of Framework for the and credits made therein.
Preparation and Presentation of the
Financial Statements.
Power Sector Assets and Liabilities Management Sector (PSALM)

The payment of legal counsel fee a. Require the Treasury 23,224
in the amount of P23.224 million Department to refrain from using
out of the Genco Priva Account, a Genco Priva Fund other than its
trust fund, was not in accordance purposes and ensure that all
with Section 4 (3) of PD 1445 and disbursement be sourced from its
is considered an illegal expenditure proper accounts; and
under Annex B of COA Circular
2012-003 dated October 29, 2012. b. To preclude the issuance of
Notice of Disallowance, return
immediately the amount of
P23.224 million to the Genco
Priva Account.
Small Business Guarantee and Finance Corporation (SBGFC)

The procedural guidelines provided a. Revisit the procedural guidelines 649,721
under SBGFC Memorandum dated in the handling of past due
August 04, 2009 were not strictly accounts as embodied under
implemented resulting in the SBGFC Memo dated August 4,
increase of Regular Lending 2009 and modify those
Program (RLP) Past Due Loan procedures deemed no longer
Accounts Receivable to P649.720 feasible/applicable in the present
242
Amount
(in thousands)
million or an increase of P20.391 set up; and
million from the previous year’s
past due Loans Accounts b. Accordingly, require the
Receivable of P629.329 million. concerned officer/employee to
Thus, the liquidity and credit risk strictly implement the said
of the Corporation is also procedural guidelines in the
increased. handling of past due accounts.
Social Housing Finance Corporation (SHFC)

Double availment and a. Require the CA to ensure NQ
inconsistencies; and incomplete submission of complete and
information were noted in the accurate personal information of
database/master-list of MBs who MBs;
availed under the CMP and HDH
Projects, contrary to Section 16 (c) b. Require the SHFC department in
of RA No. 7279 and Section 4 (6) charge to validate and correct the
of PD No. 1445 and Corporate deficiencies noted in the data
Circular No. HDH 14-001, Series base to establish authenticity of
of 1989. Thus, the authenticity of the intended rightful MBs of the
the intended rightful MBs of the CMP and HDH Projects;
projects is doubtful, which may
result in the non-attainment of the c. Provide/emphasize provision in
objectives of the CMP and HDH the LAs on the imposition of
Projects. sanctions/penalties for MBs
found to have double availments
of any other housing project;
d. Require member-applicants the

submission of Certificate of No
Availment of Housing
Unit/Project from any Shelter
Agencies to prevent double
availment of the housing units;
and
e. Coordinate with HUDCC for the

establishment of the database for
all housing agencies to avoid
double availment.
Sugar Regulatory Administration (SRA)

The implementation of the Block a. Closely coordinate with DSWD 624,697
Farm Program (BFP) with budget as to the accreditation
of P324.697 million and requirements for the BFs/CSOs
P300.000 million in CYs 2016 and to qualify as beneficiaries of
2017, respectively, incurred start-up funds under the BFP if
considerable delay as the fund the SRA will continue the
utilization in two years ending provision of start-up capital
December 31, 2017 amounted only through fund transfers to BFs;
243
Amount
(in thousands)
to P13.322 million in SRA – Home otherwise, revise the guidelines
Office and P56.397 million in SRA on BFP to effect the change to
Visayas or equivalent to 11.16 per provision in kind or in the form
cent utilization rate, depriving the of farm inputs and services;
block farms (BF) beneficiaries of
immediate provision of farm b. Formulate the guidelines on the
management and technical monitoring of the
assistance, agricultural inputs, implementation of the project
capability training and common such as: (i) preparation and
service facilities for improved submission of monitoring reports
sugarcane farm productivity. The that would provide the status of
delay was observed as: (a) the implementation of the project to
start-up capital with total budget of the Planning and Policy
P129.356 million for the two-year Department (PPD) - Sugar
period was not granted to BFs due Industry Development Act
to the difficulty in the accreditation (SIDA) Project Management
by the Department of Social Office, and (ii) evaluation by the
Welfare and Development PPD of the reports so that the
(DSWD) of the BFs to qualify as a issues/problems hampering the
Civil Society Organization (CSO) attainment of the targets would
to implement programs or projects be addressed on a timely manner;
using government or public funds, and
and (b) the procurement of
fertilizers and agricultural c. Henceforth, conduct regular
equipment was not completed monitoring, review and
during the period. Moreover, evaluation of the BFs based on
inadequate monitoring of the the Work and Financial Plan for
implementation of the Project was CY 2018 to fast track the
observed as the required reports delivery of the interventions to
were not prepared on time. the BFs in order to meet the
targets as reprogrammed in CY
2018 and ensure that the
accredited BFs shall finally
receive the benefits of the
program.
Socialized Credit Program with a. Fast track the implementation of 624,697

budgeted amount of P324.697 the SCF considering the delay in
million and P300.00 million in the formulation and signing of
CYs 2016 and 2017, respectively, the IRR, so that the objectives of
was not yet implemented after two the Program will soon be
years the SIDA Act was enacted realized; and
due to delay in the finalization of
the Implementing Rules and b. Henceforth, refrain from
Regulations (IRR) of the releasing project/program funds
Socialized Credit Facility (SCF), to the implementing agency in
and inability of the farmers to the absence of approved IRR and
comply with the required other documents, which are
documentary requirements of the integral part of the MOA.
loan. Hence, the
farmers/beneficiaries were not yet
244
Amount
(in thousands)
granted with loan to support their
acquisition of production inputs,
farms machineries/ equipment and
implements. Moreover, the
documents supporting the transfer
of fund of P324.697 million to
Land Bank of the Philippines were
not complete as the IRR as an
integral part of the Memorandum
of Agreement (MOA) was not yet
finalized together with the Annex
B – Schedule of Releases of Fund.
Tourism Promotions Board (TPB)

For the CY 2017, TPB did not set Comply with Section 56 of RA 91,056
aside the required ten percent of 9593 (Tourism Act of 2009) and
the allocation for promotions and Section 40 of its IRR.
marketing as a Special
Contingency Fund (SCF) pursuant
to Section 56 of Republic Act (RA)
9593 “Tourism Act”. Likewise, a
total amount of P91.056 million
was transferred from SCF to
Corporate Funds without the
necessary Board Resolution as
required under Section 40 of the
said act.
Veterans Federation of the Philippines (VFP)

The balance of account Investment in a. Submit the following: 400,000
Treasury Bills of P400 million did  Approved JEVs and
not tally with the balance per Bank supporting documents
of P399.146 million, thereby that authorized the
showing a discrepancy of P0.854 investment of funds;
million. A portion of the investment a.2 proof of investment
amounting to P100 million were not of the amount of P100
properly supported with documents. million that was
withdrawn on February
17, 2017; a.3 supporting
documents for the
investment of
P100,972,418.65 on
October 18, 2017; and
 Approved JEV and

supporting computation
for the recorded interest
income of
P4,497,925.64 on
December 31, 2017.
245
Amount
(in thousands)
b. Recognize the accounting entries

for the matured placements and
the interest earned thereon as
well as the subsequent placement
of the proceeds.
The following matrix summarizes the significant common audit observations and the
corresponding recommendations reported in the Annual Audit Reports (AARs) on the GCs.
Moreover, the detailed lay-out and agency specific information discussed in the AAR shall
prevail over the condensed consolidated information presented below:
Table IV-2A
Summary of Common but Significant Observations and Recommendations
on Government Corporations in NCR and Stand-Alone Agencies in the Regions
Amount
Common Audit
Recommendations GCs affected (in
Observations
thousands)
A. OPERATIONS
Dividends due were: (1) a. Comply with the provisions of APO2 27,083
not declared; or (2) not Section 3 of RA 7656 and BSP3 921,248
remitted; or (3) with Section 5(e) of its NDA2 10,620
short remittance to the Implementing Rules and NPIC1 & 2 138
National Government Regulations on the PAFC3 53,425
(NG). computation, declaration and PAGCOR3 NQ
remittance of dividends to the PDIC2 2,350,639
NG; and PDMC1 & 2 62,595
PRecA2 489,093
b. Record and/or remit the
dividends due to NG.
Funds received intended a. Coordinate with the Source NEA2 985

for project or program Agency for the proper SHFC1 350,000
implementation were: (1) disposition of the unutilized
not utilized or remained portion in accordance with the
idle; or (2) unexpended/ provisions of the
unutilized balances were Memorandum of Agreement
unremitted to Source between and among the
Agency for several years parties, and
thus, delaying the
attainment of the b. Return to Source Agency the
purposes for which the unexpended/unutilized
funds were granted. balance upon the completion
of the project in accordance
with the provisions of the
246
Amount
Common Audit
Observations
thousands)
MOA between and among the
parties.
The (1) partial; or (2) a. Explain the reasons for the BSoP5 7,716
non-implementation; or failure to complete the project DFPC6 810,423
(3) uncompleted within the set timeline; LWUA6 390,958
programs /plans within NEA5 502,163
timelines; or (4) non- b. Require the Project/Program NPC2 NQ
existent; or (5) unutilized Officer to monitor closely the PCMC5 32,637
projects; or (6) delay in status of implementation of PHC7 NQ
the opening and approved programs/projects to PITAHC3 8,409
operationalization/ avoid any slippages and to take PNOC EC6 154,005
implementation of the immediate and appropriate PNR5 NQ
project; or (7) absence of corrective measures necessary PPA5 155,321
implementing policy/ to complete the same within PRRI-RO-III1 16,000
guidelines resulted in: time line; PTNI4 1,300
(a) deprivation/
suspension in the c. Provide sanctions for non-
implementation; completion or failure to deliver
(b) delayed delivery/ required output/s on time;
implementation of
services to intended d. Strictly adhere with the agency
beneficiaries; and policy on the implementation
(c) inconsistencies with of the related program;
existing policies.
e. Require the Contractor to
refund the P1,300,173
representing payment of the
parking lot extension that did
not materialize or deduct the
said amount from future
billings of said contractor for
any project undertaken by
them otherwise, a Notice of
Disallowance shall be issued
by the Audit Team for the
recovery of the amount
involved;
f. Make representations/request
from the trustor/donor/Source
Agency authority for the
utilization of the unexpended
funds;
g. Reconstitute the Project

Management Team by
assigning responsible
personnel who could
implement, manage and
monitor the project by
247
Amount
Common Audit
Observations
thousands)
faithfully devoting their
commitment, willingness, time
and effort for the betterment of
the program;
h. Cause the immediate

operationalization of the
project;
i. Conduct thorough planning

and feasibility studies to
ensure timely project
implementation and usage of
funds and the achievement of
project objectives; and
j. Deduct from the payment of

the contractor’s final billing
the computed amount of
liquidated damages.
The continued incurrence a. Adopt viable measures to NRDC 191,482

of losses resulted improved income generation PNOC RC 173,436
unfavorable financial in order to sustain the PPPI 35,428*
condition, posed risk of Agency’s operations to carry
sustainable operations out the GC’s mandatee; *Figure
and inability to achieve represents losses
the mandated functions b. Conduct a study of each for the CY 2017.
and objectives of entity’s viability and consider
concerned GC. the following:
Applicable b.1 Preservation of the

Agency
years entities’ existing facilities to
NRDC 2004 - 2017 conserve government
PNOC-RC 2013 - 2017 investments;
PPPI 2006 - 2017 b.2 Review and enhance the

existing sales and marketing
revenue generating
capabilities of the different
entities in order to reduce its
operating losses and
eventually become profitable.
Likewise, economic measures
should also be introduced to
reduce operating costs of
these entities;
b.3 Revisit the marketing

plans of the Authority to
248
Amount
Common Audit
Observations
thousands)
increase the sales and revenue
of its entities;
b.4 Plan and implement

preventive solutions to avoid
incurrence of net loss in the
ensuing years;
b.5 Privatization, divestment

or disposal of properties as
prescribed under COA
Circular No. 89-296.
c. Perform diligently the duties

and responsibilities as
specified in the various
contracts and agreements the
GC had entered into to ensure
the sustainability and success
of the revenue generating
projects being managed by the
concerned GC to maximize
income and eventually
address the recurring losses in
the operations and issue on
viability to operate as a going-
concern.
The (1) absence; or a. Facilitate the immediate HSDC2 NQ
(2) delayed/non preparation/completion and NABCOR1 & 3 NQ
approval/ non submission of the Liquidation NIACI2 & 3 NQ
finalization of Plan to/or make representation PADCC2 & 3 NQ
Liquidation Plans; or with the concerned PFC2 & 3 NQ
(3) non-preparation of body/Technical Working QUEDANCOR2 & 3 NQ
the complete and final Group for approval of the ZREC2 & 3 NQ
financial statements same to hasten the disposition
(FS) for liquidation of all assets and settlement of
purposes resulted in the liabilities of dissolved GCs;
(a) delay in the
disposition of assets and b. Prioritize the closing of the
liabilities of dissolved books of accounts; and
GCs; (b) delay in the
transfer of accounts c. Update the accounting
balances form its books records/ books of accounts,
of accounts as well as prepare the complete final
its functions and financial statements for
programs to the liquidation purposes and
concerned government perform all other accounting
agency; and (c) activities necessary in the
incurrence of further closing of the books of
losses. accounts to ensure the transfer
249
Amount
Common Audit
Observations
thousands)
of the balances in the books of
accounts of concerned
government agency.
The (1) actual a. Verify the causes of the BFI 2 NQ

expenditures exceeded significant excesses of the IBC-13 2 217,475
the Corporate Operating actual expenses over the NRDC 2 NQ
Budget (COB); or (2) budget and ensure that PITAHC 1 5,021
COB and other related expenses are incurred and PMDC 3 62,042
financial reports were paid in accordance with PTNI 2 47,434
not prepared/submitted; approved appropriation; TPB 1 27,928
or (3) COB were not
supported with realistic b. Prepare and submit the annual
estimates of revenue and COBs and other requisite
proposed expenditures financial reports in
with assumptions, accordance with the
programs or projects procedures and guidelines
contrary to the prescribed under DBM
procedures and Corporate Budget Circular
guidelines prescribed by No. 20, Section 6 of
the Department of Executive Order (EO) No.
Budget and Management 518/Section 3 of
(DBM), Corporate
Budget Circular No. 20 DBM Budget Circular No. 22
dated April 27, and comply with RA 10633;
2005/Section 6 of
Executive Order (EO) c. Justify and/or explain the
No. 518 dated January unauthorized/unapproved
23, 1979/Section 3 of budget for CY 2017 without
DBM Budget Circular prejudice to any liability of
No. 22 dated December the official/s on the timely
1, 2016; Republic Act submission of the CY 2017
(RA) No. 10633, Section COB; and
4 (1) of PD 1445.
d. Prepare COB with realistic
estimates of revenue and
proposed expenditures clearly
supported by assumptions,
programs or projects.
Non-compliance with Exercise utmost care and adhere AAIIBP NQ

existing credit manuals/ to the provisions of the credit DBP NQ
policies/standards in the manuals/ policies/standards in the SBGFC 15,000
granting/releasing of granting/ releasing of loans.
loans exposed the
Corporation to higher
credit risk and possible
losses of government
funds.
250
Amount
Common Audit
Observations
thousands)
The (1) absence of Execute contracts with the DAP2 NQ
agreement/lease contract; current tenants with respect to LRTA2 NQ
or (2) non- the use and rental of the NHA2 2,358,000
implementation of the transferred/acquired assets. PAFC1 NQ
lease contract provisions; PDMC3 NQ
or (3) failure to renew Review the existing contract VFP2 NQ
the expired agreement with the canteen concessionaire
/lease contract, deprived/ and consider rescinding the
delayed the opportunity same, if found onerous and
of the Corporation to disadvantageous to the agency.
collect and utilize the
funds for its operations. Execute a duly signed and
notarized contract/renewed
contract before turning over the
property to a lessee in
compliance with Article 1403 of
RA 386/COA Circular 88-282A/
applicable provisions of the
Agency’s Manual of Operations
of the Acquired Asset
Department.
B. FINANCIAL AND COMPLIANCE

Cash
The accuracy of the Cash a. Prepare and/or update IBC131 & 2 15,437
and Cash Equivalents regularly BRS at the close of MWSS 2 1,271
accounts were not each month in accordance with NIA1, 2, 3 & 4 5,153,759
established due to either Section 74, P.D. 1445; NRDC1 3,928
or combination of the PAGCOR3 1,622,848
following : b. Make representation with the PCMC1 2,976
(1) unadjusted banks for the submission of the PCSO2 & 4 1,846,514
reconciling items debit and credit advices and PNOC RC2 6,896
between the books other relevant documents to PRA1 12,492
and bank balances/ support the recording of bank PRRI3 & 4 6,704
General ledger; reconciling items; and PTNI1 & 4 12,779
(2) discrepancies VFP3 297,706
between the book c. Analyze and identify
balances and banks’ discrepancies, all unreconciled
confirmation replies; items and exert efforts to
(3) non-preparation of reconcile the long,
bank reconciliation unaccounted bank transactions;
statements (BRS); and effect the necessary
and adjustments to reflect the
(4) erroneous/ non- correct balances of the affected
recording of accounts.
transactions, etc.
Deposit of government a. Comply with the provisions of AAIIBP NQ
funds in various private Section 69 of P.D. No. 1445, APO 4,366
banks is not in Section 3.4 of COA Circular CFI 9,640
251
Amount
Common Audit
Observations
thousands)
consonance with Section No. 2013-007, the Department CITEM NQ
69 of PD 1445, Section of Finance (DOF) Circular No. IBC 13 223,918
3.4 of COA Circular No. 001-2015, DOF Department PDMC 50,697
2013-007 dated Circular No. 02-2016 and DOF PEATC 8,109
September 18, 2013, Department Order No. 27-05, PEZA 40,407
Department of Finance and deposit government funds
(DOF) Circular No. 001- in Authorized Government
2015 dated June 1, 2015, Depository Banks (AGDBs);
DOF Department and
Circular No. 02-2016
dated July 8, 2016 and b. Submit prior approval by DOF
DOF Department Order in maintaining a depository
No. 27-05. account with private
banks/banks which are not
designated as AGDBs,
otherwise, transfer all
government funds to AGDBs.
Cash shortage was a. Require the immediate DFPC 979

established during the restitution of the cash shortage; PFDA 230
cash examination of the PTNI 1,085
cash b. Exercise closer supervision
accountability/collection over the Accountable Officers
s of the Cashier/ to prevent incurrence of cash
Collecting Officer/ shortage; and
Special Disbursing
Officer (SDO). c. Conduct immediate
investigation on the cash
shortage to avert further loss of
government funds and file
appropriate charges against
those persons found
accountable and responsible
for the cash shortage.
Unreleased checks/stale a. Revert back to Cash in Bank NIA 16,785

outstanding checks were and other affected accounts PCIC 1,207
not restored to the cash the amount of unreleased SSS 1,814,020
balance contrary to COA checks at year end in
Government Accounting compliance with GAFMIS
and Financial Circular Letter No. 2002-001;
Management and
Information System
(GAFMIS) Circular b. Improve the process of
Letter No. 2002-001 releasing payment by: (1)
directing the Disbursing
Officer to set specific date/s
of releasing checks in the field
offices particularly in cases of
calamities; and (2) updating
252
Amount
Common Audit
Observations
thousands)
of records of payees as to
their complete address/es and
contact numbers.
Investments
Erroneous recording in Analyze and prepare the necessary BSoP 2,415,000
the books of accounts adjusting entry to reflect the CCP 3,281
resulted in doubtful accurate balance of the accounts PCIC 3,676
validity of the balance of affected.
Investment and other
affected accounts
Loans and Other Receivables

Loans/contracts/accounts a. Continuously monitor and BFI 653
receivables/ interest intensify efforts to increase BSoP NQ
receivables /other collection of receivables; BSP 13,308,215
receivables remained CCP 72,656
uncollected or have long b. Devise other options and if DBP 32,600
been outstanding/past warranted, resort to legal GSIS 59,708,958
due/dormant thus, means to enforce settlement of HDMF 939,850
exposing the Corporation accounts including those LBP 1,384,876
to liquidity risk and pertaining to prior years LWUA 148,295
reduced the amount of without request for write off; MWSS 34,030
resources for operations/ NHMFC 13,550,632
lending/relending that c. Exhaust all viable means to NIA 995,261
could have generated collect all long outstanding/ NKTI 45,010
additional income for the dormant/delinquent receivable NPC 5,970
Corporation. or past due accounts and OWWA 415,294
ensure proper documentation PAFC 124,539
of accounts and coordination PEZA 68,542
of concerned Agencies; PHC 172,937
PHILSUCOR 4,766
d. Set collection targets to PPSBI 2,373,366
determine and assess PRecA 2,729,789
collectability of the accounts PSALM 5,051
as basis for further action to be SBGFC 649,721
undertaken; and SSS 13,778,000
TIDCORP 12,584
e. If collection efforts prove
futile, request for authority to
write-off accounts deemed
uncollectible as per guidelines
and procedures on the Write-
off of dormant accounts
provided in COA Circular No.
253
Amount
Common Audit
Observations
thousands)
2016-005 dated December 19,
2016.
Discrepancies between Prioritize the reconciliation, BSoP 33,671

the General Ledger (GL) analyze the causes of CAAP 100,696
and Subsidiary Ledgers discrepancies between the GL DAP 72,225
(SLs)/ reciprocal and SLs, reciprocal accounts, HDMF 495,621
accounts of receivable aging schedules, and HSDC 309,056
and payable and/or confirmation replies and cause LWUA 464,188
against the aging the reconciliation/ adjustment of NEA 136,570
schedules/ Monthly Data affected accounts to reconcile NFA NQ
Sheet (MDS)/ results of their balances. NHA 2,697,421
confirmation resulted in NHMFC 18,676
unreconciled items, NIA 1,552,603
hence, the correct NRDC 165,687
balances of receivable PCA 64,824
accounts cannot be PNCC 5,336
ascertained. SHFC 1,533,010
TPB 145,820
Unsubstantiated/ a. Exert all effort to trace the BSoP 8,718

incomplete/ non- balances of receivables DCI NQ
maintenance of reports, accounts together with their HSDC 528,832
subsidiary supporting documents; LCP 4,439
ledgers/contracts/ aging LWUA 176,104
schedules and/or non- b. Maintain/update the required NIA 2,639,271
submission of supporting SLs; and SHFC 88,154
documents cast doubts c. Execute the required contract TPB 77,959
on the existence of the and/or locate and submit the VFP 4,234
receivable and the required documents to
Corporation’s rights over establish validity of claims and
them. to support the recorded
transactions in the books or
exercise disposition.
Existence of negative/ Verify/analyze the abnormal BSoP 10,834

abnormal balances in the balances of Accounts Receivable CAAP 133,636
Subsidiary Ledgers and effect the necessary DAP 1,277
(SLs) of Accounts adjustments. HDMF 2,858,025
Receivable signified LWUA 40,378
errors in the recording of NHA 71,451
transactions. NIA 3,504
PAGCOR 9,121
PCSO 22,306,000
SHFC 8,818
TPB 44,715
Delayed posting of a. Post the undistributed GSIS 3,270,264

Undistributed collections (UC) to the HDMF 1,421,749
254
Amount
Common Audit
Observations
thousands)
Collections (UC) specific SL account NHMFC 20,987
representing collections SHFC 374,503
of premiums and/or of the member/pensioner/ SSS 1,901,171
loans to the individual borrower; and
account of members
pensioners/ borrowers b. Conduct continuous clean-up
affected the accuracy of of the UC accounts to
individual data recorded minimize its accumulation and
in the subsidiary ledgers adjust affected accounts
contrary to paragraph 15 accordingly.
of PAS No. 1 depriving
the members of the
privileges in availing
higher loan amounts,
dividends and maturity
claims.
Non-enforcement of the a. Strictly enforce the sales/loan HDMF 502,502

provisions of the contracts/provisions; PHC 172,937
sales/loan SSS 220,025
contracts/agreements or b. Consider revising the Policy
deficiencies in the Manual on Promissory Notes
implementation of for a better implementation of
policies against the policies that would fit a
defaulting buyers/ more realistic situation for
borrowers/patients both patients and the agency;
resulted in the non- and
rescission of said
contracts and the c. Undertake necessary course of
accumulation of long action to effect the rescission
outstanding past due of said contracts and the
accounts. consequent consolidation of
title of the subject property in
the name of the lender
Corporation.
Erroneous recording/ Prepare the necessary adjusting LWUA 8,178

classification or non- entry to reflect the accurate NPC 572,459
recognition/non- balance of the accounts affected. PSALM 11,593
recording in the books of TPB 5,197
accounts resulted in the
doubtful validity of the
accounts and
misstatement of the
affected accounts.
Allowance for a. Review and analyze DCI 1 13,133
impairment loss/doubtful thoroughly the receivable NHA 1 4,770,000
accounts/bad accounts to determine/ NHMFC 1 35,006,114
debts/probable loss was recognize the appropriate NIA 1 NQ
255
Amount
Common Audit
Observations
thousands)
either (1) not provided or allowance for doubtful PCIC 2 36,869
(2) in excess or accounts/impairment loss in PPSBI 1 & 2 1,294,760
inadequate due to compliance with PAS 39; and SHFC 1 21,030,946
deficiencies/ errors in TIDCORP 1 486,880
computation/without b. Prepare adjusting entries to
bases/ absence of ensure fair presentation of the
objective evidence of receivable accounts and the
asset impairment, related expense accounts in
contrary to PAS 39, compliance with PAS 39.
resulting in the
misstatement of the
receivable and related
expense accounts.
Cash Advances
Cash advances granted to a. Cause the immediate BFI 180
officers and employees liquidation of all outstanding CAAP 11,234
remained unliquidated; cash advances where the CDC 2,359
additional cash advances purpose/s for which it was set- DCI 133
were granted despite up or established were already HSDC 350
failure to liquidate served/and those which LLFC 103
previous cash advances remained unused for over two NDA NQ
received from the months in accordance with NIA 4,546
Agency, contrary to existing laws, rules and OWWA 33,534
COA Circular 97-002 regulations; PPC 42,198
and Section 89 of P.D. PRRI 4,782
1445. b. Refrain from granting SPDA 3,450
additional cash advances to TIEZA 258
those with still unliquidated
cash advances; and
c. Take appropriate legal actions

to enforce the liquidation or
recovery of unliquidated cash
advance.
Cash advances were a. Strictly comply with COA LRTA NQ

granted to non- Circular Nos. 97-002 and SRA 1,328
permanent or not duly 2006-005 and BTr Treasury
designated employees Circular No. 02-2009; and
and not bonded
Disbursing Officers b. Stop the practice of granting
contrary to COA non-travel or special purpose
Circular Nos. 97-002, cash advances to those
2006-2005, and BTr employees not designated as
Treasury Circular No. Disbursing Officers. Procure
02-2009. Fidelity bond for all
Disbursing Officers.
256
Amount
Common Audit
Observations
thousands)
Inventories
The accuracy and a. Analyze, reconcile and provide BSoPe NQ
existence of various full accounting of the LCPb 891
recorded inventory items differences in the books/ PAGCORb, c, & d 68,605
could not be determined records/reports/ stock cards PCMCb 52,929
due to either or and the physical count and PRRIe 32,976
combination of the effect the necessary SBMAe 81,049
following: (a) adjustments to reflect the TIEZAc 12,786
unreconciled balances correct book balance of
(b) discrepancies of the inventories; and
balances in the books as
against the report on the b. Submit the required supporting
physical count; (c) documents.
inclusion of obsolete
items; (d)
discrepancies between
the stock cards or
inventory reports;
(e) absence or
incomplete records/
improperly maintained
reports/contracts/subsidi
ary ledgers (SLs)/stock
cards and other
supporting documents;
and (f) incomplete/non-
conduct of physical
count.
Erroneous Analyze and prepare the necessary NFA NQ
recording/non- adjusting entry to reflect the PCA NQ
recognition/ accurate balance of the inventory PRA 9,331
misclassification of the account and its related accounts
inventory account for proper presentation in the
resulted in doubtful financial statements.
validity of the said
account and other
affected accounts in the
financial statements.
Property, Plant and Equipment (PPE)

The reliability of the a. Conduct and/or complete the AFPRSBSe 95,009
balance of the Property, physical count of PPE; BSoPa 713,148
Plant and Equipment CAAPe 105,066,293
(PPE) accounts was b. Analyze and reconcile the CCPb & c 136,056
doubtful due to any or Inventory Report with the CDCb & f 344,260
combination of the accounting and property CITEMc 44,133
following conditions: records to establish the DCIa 4,531
257
Amount
Common Audit
Observations
thousands)
a) incomplete/non- accuracy of the recorded GSISe 117,743
conduct of physical balances of the PPE accounts; HDMFb 88,378
count; HSDCa, b & f 100,183
b) partial/non- c. Prepare the necessary IBC 13e & f 116,350
reconciliation of the adjusting entries to correct the JHMCd 4,779
results of physical balances of the affected LLDAe 35,187
count with book accounts; and NDAa 89,093
balances and NFAb 358,275
relevant accounting d. Submit the required supporting NIAa, b, & f 115,020,480
records; documents/ reports. NRDCe & f 41,088
c) absence/non- NTAa & e 291,277
submission of OWWAb 216,473
physical inventory PAGCORb 23,926
report; PCAa, b & f 199,324
d) existence of PCICe 31,533
abnormal balances/ PCMCb, e, & f 50,492
unrecorded items; PEZAe 37,258
e) discrepancies PHCe 7,406
between the General PIAb & c 4,308,739
Ledger (GL) and PNOCc NQ
Subsidiary Ledgers PNOC-RCb 117,724
(SLs) or physical PNRf 15,498,788
count/inventory PPCf & e 4,140,996
reports; and PRAa 18,520
f) Absence/incomplete PRRIb, e, d & f 85,179
supporting PSALMe 2,107,953
documents/SLs/ PTNIa, c, & f 1,616,000
property cards. SBMAc & e 17,597,945
SRAe 84,584
TIEZAc 7,402,000
Non-recording/ a. Conduct periodic DBP 31,994

erroneous recording of reconciliation of the agencies NIA 43,885,412
transactions or financial reports and records OWWA 23,013
misclassification/ and on implemented projects, as PAGCOR 127,307
non-transfer of these reports and records are PCA 15,403
completed PPE structure/ tools to establish the correct PCIC 7,013
projects from the balance of the CIP; PNR 478,600
Construction in Progress PPC 2,136
(CIP) accounts resulted b. Transfer completed projects PSALM 125,346
in the misstatement of from the CIP account to the
the PPE, CIP and other respective asset account;
related accounts.
c. Record the transferred PPE at
its net carrying value, or at fair
value;
d. Prepare the necessary

adjusting entries to reflect the
accurate balances of the PPE,
258
Amount
Common Audit
Observations
thousands)
CIP, and other related
accounts; and
e. Require the Inventory Team in

foreign post to reflect in the
Philippine peso, all items of
PPEs and consolidate the same
with the Head Office.
PPE items were not Recognize depreciation on PPE DAP 10,033

depreciated or the corres- items in accordance with Item JHMC 721
ponding depreciation No. 71 of PPSAS No. 17 in order LLDA 6,159
were erroneously to present a reliable balance of PNR 212,564
computed which runs the PPE and the Accumulated
counter to paragraph 71 Depreciation account in the
of PPSAS No. 17, COA Financial Statements.
and PAS 16, resulting in
the misstatement of PPE
and other related
accounts.
Unserviceable/ obsolete a. Cause the disposal of the CEZA 10,752

properties remained unserviceable property in DAP 905
undisposed contrary to accordance with Sec. 79 of PD DBP 4,889
Section 79 of PD No. 1445, COA Circular No. 89- HDMF 9,861
1445, thus exposing 296, and Section 82 of PPSAS LLDA 2,486
them to further No. 17 or paragraph 67 of PAS OWWA 35,179
deterioration and 16; and PAGCOR 20,945
depriving the GC of PEZA 21,395
additional funds from the b. Reclassify said items pending PHILSUCOR NQ
proceeds of sale thereof. their disposal in accordance PIDS 983
with applicable accounting PNR 6,019
standard requirement/s. PPPI 208
PSALM 1,142,000
Other Assets
Erroneous Analyze and prepare the HDMF 6,227
recording/non-recording necessary adjusting entries to HSDC 93,463
classification/ reflect the accurate balance of the NHA 1,203,000
presentation/ non- other asset and affected accounts.
provision of impairment
loss/ unreconciled
amounts of other assets
resulted in the
misstatement of the other
asset accounts thus,
affected the reliability/
accuracy of the Other
259
Amount
Common Audit
Observations
thousands)
Assets and the related
affected accounts.
Acquired Assets
Appraisal/re-appraisal of a. Conduct appraisal/re-appraisal DBP 790,458
acquired assets were not of acquired assets in PDIC 32,506
undertaken regularly to compliance with the operating
determine the manual/policies; or
recoverable amount of
properties contrary to b. Restudy the existing
PAS 36. guidelines which provides
allowance equivalent to 100
per cent of book value to
properties with undetermined
current valuation, and realign
with the provision of PAS 36.
Titles to government a. Expedite the titling of land AFPRSBS 6,885,176

land assets or properties under the name of the BCDA 27,505,000
acquired and booked concerned GC to safeguard its CEZA 8,593
under the interest and remove the cloud HDMF 1,284,368
Land/Investment of doubt on the ownership LLDA NQ
Property/ Property and issue over the property; and NHA 4,892,000
Equipment accounts PCMC 1,395,000
were not yet b. Initiate efforts to document PEZA 2,691,753
transferred/consolidated and substantiate the PSALM NQ
in the name of the ownership over GCs assets or TIEZA 442,636
concerned GC and/or submit a comprehensive
absence of proof of updated report on the status of
ownership or failure to the titling process.
exercise right of
ownership rendered
doubtful: (a) the validity
of the asset account; or
(b) that economic
benefits will flow to the
Corporation.
Acquired/foreclosed Prioritize the immediate disposal DBP 666,751

assets were not promptly of the acquired assets that have PDIC 11,229
disposed contrary to been in the name of the GC/ place
existing laws, rules and signboards indicating that the
regulations. subject preperties are for sale to
prevent further deterioration of
said assets and incurrence of
additional expenses and to protect
the interest of the government.
260
Amount
Common Audit
Observations
thousands)
Loans/Accounts Payable and Other Payables
Several payable accounts a. Analyze/verify/validate and DBP 72,555
remained outstanding/ confirm the payable accounts HDMF 947,502
dormant/not settled for to determine their validity and NFA 655,602
more than one year completeness; revert to NIA 1,838,177
resulting in the Retained Earnings NKTI 56,690
accumulation of long undocumented payables which OWWA 73,962
outstanding payables have been outstanding for SSS 30,229,672
account and/or more than two years as
incurrence of interest and provided under PD 1445;
penalties for non- b. Strictly observe the provisions
payment of the on debt servicing and update
loans/multi-series the monthly amortizations to
bonds/corporate notes, in avoid further incurrence of
violation of the pertinent penalties and interest; and
provisions of the
contract/ c. Make necessary measures and
MOA/rules/regulations arrangements for the
and Sections 59 and 98 settlement of the long
of PD 1445. outstanding loans accounts.
Existence of abnormal Conduct analysis and DAP 40,192

balances of payable reconciliation of the payable LCP 2,149
accounts and/or accounts and the related affected NFA 1,616
discrepancies between accounts to determine the correct NIA 801,798
the books and the results balance and effect the necessary NRDC 118,862
of confirmation rendered adjustments. OWWA 85,327
the reliability of the PRRI 187,911
account balances TPB 184,675
questionable.
Non-maintenance/ Obtain/locate/maintain/submit the HDMF 688,040

incomplete/ absence of required supporting documents, NFA 1,046,148
reports/ supporting schedules, reports, SLs to prove NIA 1,916,000
documents/valid claims/ existence, accuracy and validity of NRDC 41,409
subsidiary ledgers loan/accounts and others payables. PCA 16,219
(SLs)/schedules rendered PHC 160,741
the accuracy and validity PRA 21,032
of the payable TPB 41,282
transactions and balances
doubtful.
Erroneous classification/ Analyze/reconcile and prepare the CCP 16,338

recording/presentation/ necessary adjusting entries to DAP 238,176
non-recording/inclusion reflect the correct balances of the DFPC 3,797
of transactions without loans/accounts payable and LCP 18,317
basis/ non-recognition in related affected accounts. NDA 25,709
the books of loans/other NEA 3,372
payables/and existence NHMFC 8,676
261
Amount
Common Audit
Observations
thousands)
of discrepancies between NIA 1,251,605
SL and GL balances PCA 99,641
which practices were PCED 612
contrary to PAS 1 PCMC 61,934
resulted in the SHFC 174,797
misstatement of the TPB 349,036
liability accounts thus,
affected the
reliability/accuracy of
the payable balances and
the related affected
accounts.
Taxes Payable
Non-withholding from Comply with the BIR regulations BSoP 40,844
government money on the withholding of IBC 13 117,356
payments/ non- government money payments; MWSS 2,455
remittance/ non-payment trace unremitted taxes and NDA 126
of various taxes reconcile the balance of the NHMFC 24,362
withheld; or account; remit/pay on time the NIA 117,139
delayed/deficient taxes withheld/tax due to the BIR NPC 322
payment/non-payment of to prevent incurrence of interest, NRDC 1,770
taxes due to the Bureau penalties and surcharges. PPC 724
of Internal Revenue PRRI 3,489
(BIR) exposed the
agency to interest,
penalties and surcharges
per applicable BIR
regulations/
memorandum circulars
and the National Internal
Revenue Code.
Revenue/ Income Accounts

Non-recording of Prepare the necessary adjusting NDA NQ
transactions or erroneous entry to reflect the accurate NRDC 15,790
classification of amount of the income and NPC 1,475,155
transactions resulted in affected accounts. PRA 9,988
the misstatement of the
income and other
affected accounts
contrary to PAS
18/PPSAS 9.
Non-compliance with the a. Strictly comply with the AFAB 228,583

pertinent provision/s of provisions of COA Circular AFPRSBS 39,995
R.A. 9184 as amended 2009-001, R.A. 9184 and the APO 122,805
and the 2016 Revised 2016 RIRR, and the GPPB CITEM NQ
Implementing Rules and Circular in the procurement of LRTA 16,803
262
Amount
Common Audit
Observations
thousands)
Regulations (RIRR) goods, services and NDA 15,004
and/or Memorandum infrastructure projects; and NEA NQ
Order No. 15 dated May NFA 460,000
9, 2011/requirements of b. Persons responsible should be NHA 10,620,000
the Government made to answer for any NHMFC 42,721
Procurement Policy damage/s that were caused NIA NQ
Board (GPPB) Circular due to the delayed and/or non- NPC 796
and/or non-compliance delivery of the procured NPF NQ
with COA Circular Nos. goods. PCA 1,660
2009-001 and 96-010 on PCIC 2,850
the submission of PFDA 38,169
documents pertinent to PHILSUCOR 292
government contracts in PITC NQ
the procurement of PNCC NQ
goods and services and PNR 65,335
infrastructure projects. PPA NQ
PPPI NQ
PRA NQ
SRA 1,954
TIEZA NQ
TPB NQ
TransCo NQ
Handling of a. Send notification letters to all AAIIBP NQ

dormant/inactive deposit depositors whose accounts are DBP 223,574
accounts contrary to BSP about to become dormant and and
Circular Nos. 871 and whose accounts are already LBP USD119
928, and the Bank’s dormant; and 254,406
Manual of Procedures,
thereby exposing b. Comply strictly with the
dormant accounts to regulations on handling
risks of errors or fraud dormant accounts.
that may compromise the
interest of the Bank and
its depositors.
Non-submission of the Submit the required information/ DBP 696,717

required supporting documents pursuant to DCI NQ
information/records/ pertinent provisions of PD 1445 LBRDC 36,667
contracts/reports/and and IAS.
other supporting
documents of
transactions contrary to
pertinent provisions of
PD 1445 and IAS.
263
Amount
Common Audit
Observations
thousands)
Property, plant and Comply with COA Circular No. NIA 311,349
equipment 92-390/Section 1 of AO No. 141 PCA 53,585
(PPE)/acquired assets and RA No. 656 by submitting the PCIC 20,911
were not covered/with list of all insurable assets and PEATC 45,726
expired/not updated properties of GC and obtaining PFDA 149,427
property insurance with property insurance with GSIS to PPC 60,098
GSIS General Insurance ensure that these are covered with SBMA 1,634,473
Fund and the Property adequate insurance with the
Replacement Fund General Insurance Fund, to
contrary to COA protect the interest of the GC
Circular 92-390/ Section concerned.
1 of Administrative
Order (AO) No. 141 and
RA No. 656, as amended
by PD 245, thus,
exposing the agency to
risk of not being
indemnified or
compensated in case of
damage or loss of
property due to fire, or
other fortuitous
event/casualty.
Payment of a. Adhere to pertinent APO 3,700

compensation/ compensation laws, rules and DAP NQ
Additional regulations in the grant of IBC 13 48,002
Compensation (AdCom) compensation, allowances, GSIS 22,685
and Personnel Economic bonuses and other benefits; HSDC 324
Relief Allowance LBP 196,250
(PERA)/Retirement b. Submit documents indicating NDA 2,527
benefits/ gratuity approval by the Office of the NDC 575
benefits/separation pay President as required under NEA 19,963
and/or allowances/ Presidential Decree (PD) No. NHMFC 22,174
financial assistance/CNA 1597/by the Governance NIA 250,161
and/or other benefits and Commission for Government NPF NQ
incentives to the Owned or Controlled NRDC 1,284
Agency’s BOT/ BOD/ Corporation (GCG); or PCED 10,798
officers/ employees/ PNCC 2,601
Fellows of UP School of c. Discontinue the payment of PTNI 10,486
Economics/ Management compensation/ allowances/ TIDCORP 2,056
Committees/ hired benefits/ incentives in the
employees under absence of legal bases/
Contract of Services or authority to grant the same;
Job Orders were without and
bases/ contrary to d. For the hiring of employees
provisions of the CSC, under Contract of Services or
DBM and COA Joint Job Orders, comply strictly
Circular No.1 s. 2017 with the provisions of the
and CSC Memorandum CSC, DBM and COA Joint
264
Amount
Common Audit
Observations
thousands)
Circular No. 6 s. 2005/ Circular No.1 s. 2017 and
and existing laws, rules CSC Memorandum Circular
and regulations and/or No. 6 s. 2005.
Presidential Decree (PD)
No. 1597, Executive
Order (EO) No. 36,
DBM Circular No. 2016-
7, COA Circular No.
2012-03, EO No. 24, EO
No. 181 s. 2015.
Payment for a. Stop the practice of granting FTI 271

reimbursable gasoline reimbursable gasoline LRTA NQ
expenses; or allowance and require the MIAA 115,878
Representation and concerned officers to refund NPF 851
Transportation the amount; or
Allowances (RATA); or
telephone/mobile b. Direct the concerned
expenses; or overtime employees to refund the
(OT) expenses were amount of RATA in excess of
either without legal the rates/amounts provided in
bases; or in excess of the the DBM Circular; or
authorized rates contrary
to existing CSC and c. Obtain approval from the
DBM joint Circular No1 DBM for the OT expenses in
s. 2015; or the incurred excess of the authorized rates
telephone/mobile and require the recipient
expenses were contrary officers to refund the OT
to COA Circular No. services in excess of the 50%
2012- 003 and not in limit and the OT services not
conformity with the covered by the exemption; or
agency guidelines in the stop the practice of allowing
issuance, accountability, the officials and employees to
an use of mobile phones. choose or upgrade the mobile
phone. Avail only the units
that comes with the plan.
Partial/ delayed/ non- Deduct the LBRDC 233

remittance or non- contributions/premiums/ loan NIA 15,668
deduction of premium amortizations from the NPC 9,744
contributions/ loan compensation of employees and PPA 3,368
amortizations withheld remit the same to the GSIS/ PPC 8,127
from the employees’ SSS/HDMF/PhilHealth/NHMFC PRRI 2,275
compensation expose the to avoid sanctions/ penalties that
agencies concerned to may be imposed by the said
penalties and sanctions agencies for delayed remittance
under existing rules and thereof.
regulations of GSIS/
SSS/ HDMF/
PhilHealth/NHMFC.
265
Amount
Common Audit
Observations
thousands)
Non-submission/ a. Coordinate/send demand MWSS 4,932

incomplete letters to the concerned IAs for PCA 42,236
documentation/non- submission of the liquidation PIDS 31,496
recording of liquidation reports and supporting
reports by Implementing documents of the unliquidated
Agencies (IAs) of funds fund transfers;
received from Source
Agencies (SAs), contrary b. Ensure compliance with the
to the provisions of the reporting obligations of the
Memorandum of IAs as stipulated in the MOA
Agreement (MOA) by and required under COA
and between the SAs and Circular No. 94-013; and.
the IAs and the
requirements under COA c. Refrain from releasing
Circular No. 94-013. additional funds to IAs with
unliquidated balances.
Inadequacy of the Submit the required information/ APO 1,240

required computations/contracts and/or BSoP 160,728
information/records/repo other supporting documents in MWSS 25,744
rts/ and other supporting support of the NDA 26,386
documents/non- transaction/contract/MOA NIA 154,298
submission thereof pursuant to pertinent provisions of NPF NQ
resulted in the doubtful COA Circular Nos. 96-010 and PNR 39,321
validity of various 2012-001, PD 1445 and/or RMC PPC 4,052
transactions contrary to No. 2-2014. PRA 7,584
COA Circular Nos. 96- PSALM 116,892
010 and 2012-001 PTNI 137,312
and/or Revenue
Memorandum Circular
(RMC) No. 2-2014, and
Section 4(6) of PD 1445.
Delayed or non- a. Evaluate the cause of delayed BFI 28,449

submission/ non- preparation/submission or FTI 4,930
preparation of Financial non-submission of JHMC 70,517
Statements/documents/re documents/reports including NEA 8,172
ports including Journal JEVs and DVs/POs and NFA NQ
Entry Vouchers (JEVs) perfected contracts and NIA 1,089,464
and Disbursement adhere to the provisions of NPC 42,051
Vouchers COA Circular No. 2009-001, NPF NQ
(DVs)/Purchase Orders 2009-006 on the submission PIA 9,849,350
(POs) and perfected of documents to COA PMDC NQ
contracts within the Auditors; and PNOC 5,608
prescribed period PNOC EC 9,050
contrary to Sections 41 b. Prepare and submit the final PNR NQ
and 122 of PD 1445; and complete set of financial PSTC NQ
266
Amount
Common Audit
Observations
thousands)
Note 8, Sections 57, 71 statements together with all VFP NQ
and 81 of the Manual on relevant supporting
the New Government schedules/ documents in
Accounting System accordance with pertinent
(MNGAS) Volume I and provisions of P.D. No. 1445/
COA Circular Nos. MNGAS and COA
2009-001/2009-006 and Accounting Circular No.
COA Accounting 2015-004.
Accountable Officers Comply strictly with Treasury NEA NQ

were not bonded; not Circular No. 02-2009 governing NRDC NQ
adequately bonded; with the bonding of accountable PNCC NQ
expired and not renewed officers.
Fidelity bond; with bond
renewed after the
expiration of the term of
the bond, thus exposing
government funds to risk
of possible loss, contrary
to Sections 101 of PD
1445 and 5.1 and 5.3 of
Treasury

dated 6 August 2009.
Disaster Risk Reduction And Management System

Non-development of a. Develop action plans and NFA NQ
policies and plans; or adopt necessary measures to NIA NQ
Disaster Preparedness mitigate the adverse effects of PHILSUCOR NQ
Manual no longer natural disasters; and
relevant; or non-
appropriation of funds b. Appropriate funds relative to
for/non-implementation DRRM/ strictly adhere to the
of the Disaster Risk provisions of RA No. 10121.
Reduction and
Management (DRRM)
System/ contrary to RA
No. 10121, or the
Philippine Risk
Reduction and
Management Act of
2010 and Section 38 of
the General Provisions of
the GAA of CY 2015.
267
Table IV-2B
Summary of Common but Significant Observations and Recommendations
(Water Districts in the Regions)
Common Audit Amount

Recommendations WDs affected
Observations (in thousands)
A. OPERATIONS
Average level of non- a. Monitor the NRW levels Ajuy WD NQ
revenue water (NRW) to ensure compliance Angadanan WD 2,543
exceeded the maximum with the 20 percent Aparri WD 6,740
NRW acceptable level maximum acceptable Aroroy WD 4,911
of 20 percent prescribed level required by Asuncion WD 3,980
by Local Water Utilities LWUA; B.E. Dujali WD 1,867
Administration Bacolor WD NQ
(LWUA), resulting in b. Manage water losses to Bago City WD NQ
annual revenue losses. significantly minimize Baguio WD 34,877
the high level of NRW Balanga WD NQ
to the allowable level of Balingasag WD NQ
20% or below, pursuant Bansalan WD 14,642
to LWUA Resolution Benito Soliven WD 1,300
No. 444, series of 2009; Bocaue WD 5,161
Bulacan WD 1,237
c. Formulate Corporate Cadiz City WD 3,842
Plans incorporating Calabanga WD 364
therein the NRW Calamba WD 25,378
Reduction Plans with the Calumpit WD 1,974
ultimate aim of evalu- Cantilan WD 3,007
ating the efficiency and Carmen (Davao del 2,243
effectiveness of the Norte) WD
existing Catarman WD 7,741
strategies/measures in City of Koronadal WD 1,985
reducing water losses. City of Malolos WD 13,663
Ensure adequate City of San Fernando NQ
safeguards against meter WD
tampering and pilferages Concepcion (Iloilo) WD NQ
of both water and Cordon WD 1,056
facilities and imposition Davao City WD 667,159
of legal sanctions on Del Carmen WD 2,352
violations thereof; Digos WD 36,401
Dingle-Pototan WD NQ
d. Institute reforms that will Dipolog City WD NQ
lead to the attainment of Don Carlos WD NQ
the 20% acceptable level Donsol WD 2,045
of NRW set by LWUA, Dumangas Barotac NQ
to improve production Nuevo WD
efficiency that would Gen. Mariano Alvarez 5,285
redound to increased WD
revenue for the water General Santos City WD NQ
districts; and Gerona WD 757
Igacos WD 14,278
268
Common Audit Amount
e. Rehabilitate old Ilocos Norte WD NQ
pipelines and artesian Jaro WD 964
wells/replace defective Kapatagan WD NQ
water meters/ install or Kiblawan WD 1,688
utilize flow meters to Legazpi City WD NQ
measure total water Lemery (Iloilo) WD NQ
production; Leyte Metropolitan WD 100,334
Lianga WD 4,045
Libmanan WD 2,226
Limay WD NQ
Lupon WD 7,390
Macabebe WD 4,132
Malinao WD NQ
Marilao WD 31,357
Masantol WD 667
Mati WD 18,969
Metro Ozamis WD 38,989
Metro Siargao WD 6,023
Metropolitan 43,966
Tuguegarao WD
Meycauayan WD 49,689
Muñoz WD 1,151
Nabunturan WD 7,869
Naujan WD 652
Odiongan WD 369
Orani WD NQ
Oroquieta City WD 6,314
Paniqui WD 27,220
Paracale WD 1,204
Peñablanca WD 5,143
Pilar (Sorsogon) WD 3,697
Pinamalayan WD 1,737
Pola WD 1,102
Polomolok WD 7,639
Quezon Metro WD 10,838
Roxas (Isabela) WD 6,422
Roxas (Palawan) WD 155
San Andres WD 569
San Isidro (Davao 4,343
Oriental) WD
San Jose (Occ. Mindoro) 6,203
WD
San Jose Del Monte City 93,413
WD
Santiago WD 47,642
Sibulan WD NQ
Silang WD 5,627
Sindangan WD 1,004
Sta. Cruz (Zambales) 478
WD
269
Common Audit Amount
Subic WD 8,018
Tabaco City WD NQ
Tagum WD 88,873
Talibon WD NQ
Talugtug WD NQ
Tanay WD 28,415
Taytay (Palawan) WD 206
Trece Martires City WD 4,721
Tubod-Baroy WD NQ
Valencia City WD NQ
Virac WD 1,822
The (1) partial; (2) non- a. Require the Project/ Davao City WD 13,208
implementation; (3) Program Officer to Panabo WD 2,055
partial completion of monitor closely the Tagum WD 8,785
programs/ plans within status of implementation
timelines; or (4) non- of approved programs/
operational/ deffective; projects to avoid any
(5) unutilized project slippages and to take
resulted in: (a) immediate and
deprivation delayed appropriate corrective
delivery of measures necessary to
services/projects to complete the same
intended beneficiaries/ within timeline;
purpose and affected the
operations of the b. Provide sanctions for
Corporation; (b) non-completion or
delayed implementation failure to deliver
of the water supply required output/s on
project funded by the time;
National Government
through the General c. Conduct thorough
Appropriations Act of planning and feasibility
2014 could have been studies to ensure timely
avoided had the project implementation
procurement process and usage of funds and
been conducted in a the achievement of
timely and complete project objectives; and
manner, and the
materials actually d. Require the supplier to
delivered conformed to deliver immediately the
the specifications per materials with correct
contract. specifications and
impose liquidated
damages on the delays
incurred from scheduled
delivery sate up to
actual delivery.
270
Common Audit Amount
Failure to provide 100 Continue the exploration Bustos WD NQ
percent water coverage and implement expansion Castillejos WD NQ
to all barangays in the of water source projects to Lubao WD NQ
District’s franchise area, achieve 100 percent water Moncada WD NQ
when it targeted through coverage in the District’s Paniqui WD NQ
the Philippine franchise area or zero Tarlac City WD NQ
Development Plan waterless area.
(PDP) to reduce
waterless areas to zero
by 2016; thus, the
economic growth and
public health at these
barangays were not
promoted.
Absence/non-utilization a. Establish guidelines and Ajuy WD NQ
of/inoperative flow procedures on the Balatan WD NQ
meters to measure water proper costing for Non- Baler WD NQ
production rendered revenue Water (NRW) Barcelona WD NQ
the reliability of the and water losses; Cabusao WD NQ
reported efficiency and Culion (Palawan) WD NQ
water loss b. Install/utilize/repair Damulog WD NQ
levels/doubtful, flow meters to measure Dingle-Pototan WD NQ
contrary to LWUA the volume of water Dipaculao WD NQ
Resolution No. 444, production at a given Gattaran WD NQ
Series of 2009. time in order to Lemery ( Iloilo) WD NQ
determine whether the Luna WD 2,543
level of Non-revenue New Corella WD NQ
Water (NRW) are Sibagat WD NQ
within the LWUA Sto. Niño (Cagayan) 6,422
approved maximum WD
NRW of 20 percent; and
c. Instruct all personnel

assigned in each
pumping stations to
keep records and
monitor the actual
number of water
produced every month,
as well as, the water
used during flashings
and other usage.
Failure to conduct a Allocate funds to establish Bacacay WD NQ
regular/periodic water meter testing facility Baler WD NQ
performance audit on and conduct periodic Buenavista (Agusan del NQ
water meters being used performance audit of the Norte) WD
by the concessionaires water meters being used by Del Carmen WD NQ
and non-allocation of the concessionaires after Hinatuan WD NQ
funds for the every five (5) years of Lianga WD NQ
271
Common Audit Amount
establishment of water utilization, depending on Madrid WD NQ
meter testing facility as the condition of the Metro Siargao WD NQ
prescribed in LWUA operation pursuant to Metropolitan Naga WD NQ
Memorandum Circular LWUA Memorandum Prosperidad WD NQ
No. 014-10 dated Circular No. 014-10. Sibagat WD NQ
December 2, 2010, thus, Tabaco City WD NQ
accuracy of water meter
readings cannot be
ensured.
Propriety and legality of a. Submit to LWUA the Aurora WD NQ
water rates and other water rates and other Prosperidad WD NQ
charges required to be various charges for their Santiago WD NQ
paid by the review and approval to Sibagat WD NQ
concessionaires of the establish compliance Sto. Niño (Cagayan) NQ
Water Districts were with the provisions WD
doubtful due to any or prescribed under Section Tagoloan WD NQ
combination of the 63 of PD 198;
following:
a) Minimum Charge b. Conduct door to door re-
exceeded 5% of the assessment of the
average income of District’s
the Low Income concessionaires, giving
Group (LIG); priority to the above
listed concessionaires
b) Corporate Income and properly identify
and Franchise Taxes whether each service
were still connection is
incorporated in the Residential/Government
water rates; Commercial/Industrial
or any of its sub-
c) unchanged rates classifications and
after availment of Bulk/Wholesale; and
new loans;
c. Carefully conduct
d) not submitted for assessment on the
review and approval application of new water
by LWUA as service connections to
provided under ensure that the service
Section 63 of connections are
Presidential Decree appropriately and
198, as amended; or correctly classified.
e) improper imposition
of water rates to
corresponding
concessionaires
classification
contrary to
Commercial class
272
Common Audit Amount
identification
prescribed in the
LWUA Manual on
Water Rates and
Related Practices
dated February
2000.
Non or lenient a. Monitor the collection Amulung WD 314
implementation of process and strictly Angadanan WD 13,896
disconnection policy/ implement the policies Aurora WD 177
absence/poor billing and resolutions on Bacuag WD 621
and collection penalty charges and Bansalan WD NQ
procedures resulted in issuance of notice of Baras WD NQ
uncollected disconnection; Bato (Catanduanes) WD NQ
reconnection fees, Cabagan WD 962
accumulation of b. Establish intensive and City of Ilagan WD 3,637
receivables/past due effective collection City of Koronadal WD NQ
receivables, and non- strategies and programs Cordon WD 3,002
realization of additional that will encourage Del Gallego WD NQ
funds to sustain the disconnected Diffun WD 1,770
WDs operations. concessionaires to Hagonoy (Hagonoy) NQ
reopen the accounts and WD
subsequently pay their Hinatuan WD 1,825
outstanding bills; Igacos WD NQ
Jose Panganiban WD NQ
c. Enforce legal action on Kiblawan WD NQ
outstanding accounts Lal-lo WD 266
with material amount of Libmanan WD NQ
balances; and Maddela WD 6,417
d. Request to COA the Nabunturan WD NQ
write off of dormant Panabo WD NQ
accounts pursuant to Pandan WD NQ
COA Circular No. 2016- Paracale WD NQ
005 dated December 19, Peñablanca WD 3,303
2016. Pili WD NQ
Polomolok WD NQ
Reina Mercedes WD 2,568
San Andres WD NQ
Santiago WD 8,265
Sibulan WD NQ
Surigao Metropolitan 15,900
WD
Tagum WD NQ
Talisay WD NQ
Virac WD NQ
Non-allocation/non- Ensure that the sinking Baao WD 1,240
setting aside/non- fund reserve is allocated to Babatngon WD NQ
273
Common Audit Amount
deposit of the required avoid imposition of Libmanan WD 720
sinking fund reserve sanctions/ penalties in case
pursuant to the contract debts are not paid as these
of loan with LWUA. fall due.
Non-allocation of a Allocate funds for debt Abulug WD NQ
reserve funds for debt service and operating and Aurora WD NQ
service and operating maintenance to be used Gattaran WD NQ
and maintenance to be purposely during periods Luna WD NQ
used during periods of of calamities, force Roxas (Isabela) WD NQ
calamities, force majeure or unforeseen Santiago WD NQ
majeure or unforeseen events and allocate Sto. Niño (Cagayan) NQ
events and for reserves for the expansion WD
expansion and and improvement of its
improvement of its physical facilities, in
physical facilities compliance with Section
contrary to Section 41 41 of PD No. 198.
of PD No. 198.
Incomplete/non- a. Strictly observe the Abulug WD NQ
formulation/non- provisions of DOH AO Ajuy WD NQ
implementation/ partial No. 2014-0027 and Alimodian WD NQ
compliance on the LWUA MC No. 004-15, Amulung WD NQ
development/non- 010-14, and to Angadanan WD NQ
submission to LWUA develop/implement Anilao WD NQ
and DOH for review, WSP; Aurora WD NQ
approval and Babatngon WD NQ
monitoring of its b. Regularly monitor the Bacolod (Lanao del NQ
implementation of quality of its produced Norte) WD
Water Safety Plans water by conducting Balatan WD NQ
(WSP) required under monthly bacteriologist Baler WD NQ
Administrative Order test of its produced Baras WD NQ
(AO) No. 2014-0027 water and subjecting its Bato (Catanduanes) WD NQ
issued by the water sources to annual Bislig WD NQ
Department of Health physical and chemical Bombon WD NQ
(DOH) and Local Water analysis; and Buenavista (Agusan del NQ
Utilities Administration Norte) WD
(LWUA) Memorandum c. Ensure that the water Cabangan WD NQ
Circular No. 004-15 and produced by the Water Cabusao WD NQ
010-14 for the District undergo an Calamba WD NQ
observance and independent physical City of Koronadal WD NQ
measures on the and chemical analysis in Claveria WD NQ
prevention, mitigation accordance with Concepcion (Iloilo) WD NQ
and preparedness in Philippine National Cordon WD NQ
dealing with risks that Standards for Drinking Culion (Palawan) WD NQ
threaten the safe quality Water (PNSDW) of Del Gallego WD NQ
of drinking-water and 2017. Dingle-Pototan WD NQ
public health. Donsol WD NQ
Dumangas-Barotac NQ
Nuevo WD
Gattaran WD NQ
274
Common Audit Amount
Gen. Natividad WD NQ
Hinatuan WD NQ
Jaro WD NQ
Kapatagan WD NQ
Kasibu WD NQ
Kauswagan WD NQ
Kolambugan WD NQ
Lal-lo WD NQ
Lemery (Iloilo) WD NQ
Leon WD NQ
Libmanan WD NQ
Linamon WD NQ
Luna WD NQ
Lupao WD NQ
Mambajao WD NQ
Marilao WD NQ
Moncada WD NQ
Naval WD NQ
Odiongan WD NQ
Pandan WD NQ
Paniqui WD NQ
Paracale WD NQ
Peñablanca WD NQ
Pinamalayan WD NQ
Pola WD NQ
Polomolok WD NQ
Puerto Princesa City NQ
WD
Reina Mercedes WD NQ
Romblon WD NQ
Roxas (Isabela) WD NQ
Roxas (Or. Mindoro) NQ
WD
Roxas (Palawan) WD NQ
San Andres WD NQ
San Ildefonso WD NQ
San Joaquin WD NQ
Sibagat WD NQ
Sibulan WD NQ
Sta. Cruz (Zambales) NQ
WD
Sto. Niño (Cagayan) NQ
WD
Subic WD NQ
Tagoloan WD NQ
Talibon WD NQ
Talugtug WD NQ
Tanza WD NQ
Tarlac City WD NQ
Trece Martires City WD NQ
275
Common Audit Amount
Viga WD NQ
Virac WD NQ
Non-implementation of a. Regularly coordinate Bocaue WD NQ

Septage Management with the LGU on the Bacolor WD NQ
Plan (SMP) contrary to status of the local Guagua WD NQ
RA No. 9275, Supreme ordinance on a septage Macabebe WD NQ
Court mandamus of and sewerage program; Masantol WD NQ
2008, and PD No. 198, and Sasmuan WD NQ
as a result, waste water Sta. Rita WD NQ
may continue to leak b. Start preparations by
and flow to the river budgeting for the
systems and eventual implementation
contaminate the water. of the SMP.
Inadequate safety a. Provide the cashier with Angadanan WD NQ
measures on a safety vault and a Digos WD NQ
safekeeping and properly secured cubicle Luna WD NQ
safeguarding of the to ensure that the funds
WDs cash and cash are properly secured;
accountabilities denote
poor internal control, b. Filing cabinets should
which may pose risk in readily keep all records
its operations. and documents against
fire or theft; and
c. Install CCTV within the

parameters of the office
for
security/documentation
or records purposes.
Incompatible functions/ a. Install adequate internal Babatngon WD NQ
non-segregation of control system and Bocaue WD NQ
duties exposed strictly enforce proper Dipaculao WD NQ
government funds to segregation of duties to Licab WD NQ
risks of loss/misuse/ safeguard government Oras WD NQ
misappropriation, funds and other Naval WD NQ
contrary to the resources and prevent or Sulat WD NQ
provisions of Sec. 123 avoid exposure to
of Presidential Decree misuse or
(PD) 1445, National misappropriation of said
Guidelines on Internal funds/resources; and
Control System
(NGICS) and Section b. Augment the present
50 of the Government working force and
Accounting and prioritize the hiring of
Auditing Manual personnel for the critical
(GAAM), Volume III. positions to attain
division of labor and
ensure a strong/
276
Common Audit Amount
functioning internal
control system.
(1) Actual expenditures a. Verify the causes of the Ajuy WD NQ

exceeded the significant excesses of Anilao WD NQ
Corporate Operating the actual expenses over Aroroy WD NQ
Budget (COB); the budget and ensure Bacolod (Lanao del NQ
(2) Project Revenue fell that expenses are Norte) WD
short at the end of incurred and paid in Bacolor WD NQ
the CY 2017; and accordance with Baliwag WD 2,821
(3) COB and other approved appropriation; Bocaue WD 1,155
related financial Bombon WD NQ
reports were not b. Prepare and submit the Bulacan WD 1,673
prepared/submitted annual COBs and other Cabusao WD NQ
requisite financial Calabanga WD NQ
in contravention of the reports in accordance City of Malolos WD 3,466
procedures and with the procedures and Concepcion (Iloilo) WD NQ
guidelines prescribed by guidelines prescribed by Davao City WD NQ
the Department of the DBM, comply with Dingle-Pototan WD NQ
Budget and RA 10633; Dueñas WD NQ
Management (DBM), Dumangas-Barotac NQ
and in violation of c. Augment the funds or Nuevo WD
Republic Act (RA) No. realign savings within Kapatagan WD NQ
10633 and Section 4 (1) the same expense Kasibu WD NQ
of PD No. 1445. classification through Kauswagan WD NQ
board resolutions Kolambugan WD NQ
pursuant to Section 3.3 Kumalarang WD NQ
of DBM Corporate Lemery (Iloilo)WD NQ
Circular No. 20; and Leon WD NQ
Linamon WD NQ
d. Establish the required Malinao WD NQ
budgetary controls and Marilao WD 5,528
implement cost-saving Naujan WD NQ
measures so that actual Naval WD NQ
expenses will not Pili WD NQ
deviate from the Pinamalayan WD NQ
budget/approved limit. Pola WD NQ
WD
San Isidro (Davao NQ
Oriental) WD
San Jose Del Monte City 574
WD
Sulat WD NQ
Taft WD NQ
Tanza WD 4,112
Tubod-Baroy WD NQ
277
Common Audit Amount
Various Disbursement a. Immediately instruct all Bacuag WD 5,175
Vouchers charged concerned to prepare Bislig WD 61,350
against the Corporate and use Budget Del Carmen WD 2,433
Operating Budget Utilization Request in Hinatuan WD 14,542
(COB) were not the form prescribed in
supported with the COA Circular No. 2006-
Budget Utilization 004 to be signed by the
Request (BUR) and no Heads of the Requesting
Registry of Budget and Unit and the Head of the
Utilization (RBU) was Budget Unit;
maintained to monitor
the utilization of the b. Instruct the officers and
budget as prescribed personnel of the
under COA Circular Accounting Unit to
No. 2006-004 thus, the process claims against
necessity and legality of the corporate finds only
the charges against if supported with
COB were not accomplished Budget
warranted by the Utilization Request;
concerned responsible
officials and the c. Ensure that BUR for
fundamental principle every transaction is duly
of shared fiscal certified by the Head of
responsibility in the Requesting Unit on
government transactions the necessity and
was not fully observed. legality of charges to the
budget under his/her
supervision and the
validity, propriety and
legality of the
supporting documents
and by the Head of the
Budget Unit or its
equivalent on the
availability of budget
earmarked/utilized for
the purpose; and
d. Secure for an approval

from the board for any
transfer of budget from
one account to another
prior to charging and
monitor the same to
prevent incurrence of
negative budget balance
Absence of provision on a. Secure tax Guagua WD NQ
franchise taxes in the clearance/ruling from Meycauayan WD NQ
Joint Venture (JV) the BIR regarding the Paniqui WD NQ
278
Common Audit Amount
Agreement resulted in matter; and Tarlac City WD NQ
non-monitoring of the
District whether this b. If the view of the Audit
had been correctly Team was affirmed by
reported and the the BIR, amend/insert a
corresponding tax been provision in the JV
paid by its JV partner in Agreement regarding
violation of Section 119 the imposition and
of RA No. 8424 (The payment of franchise
Tax Reform Act of taxes.
1997), as amended, and
Item III Sections Q13
and A13 (vii) and (ix)
of the BIR Unnumbered
Revenue Memorandum
Circular.
B. FINANCIAL AND COMPLIANCE
Cash
The accuracy of the a. Prepare and/or update Aleosan WD 225
Cash and Cash regularly complete bank Anilao WD NQ
Equivalents accounts reconciliation statements Baao WD 360
were not established at the close of each Babatngon WD 297
due to either or month in accordance Bansalan WD 652
combination of the with Section 74, PD Bombon WD 131
following: 1445; Buenavista (Agusan del 367
Norte) WD
(1) unadjusted b. Make representation Butuan City WD 498,202
reconciling items with the banks for the Cagayan de Oro City 476,041
between the books submission of the debit WD
and bank balances; and credit advices and Cantilan WD 382
(2) discrepancies other relevant Damulog WD NQ
between the book documents to support Del Carmen WD 5,263
balances and the recording of bank Dingle-Pototan WD NQ
banks’ reconciling items; Dumangas-Barotac NQ
confirmation Nuevo WD
replies/accounting c. Analyze and identify Gen. Mariano Alvarez 2,479
and cashier’s discrepancies and all WD
record/System unreconciled items and Lemery (Iloilo) WD 311
Generated list of exert efforts to reconcile Leyte Metropolitan WD 2,580
collections and the long, unaccounted Lianga WD 2,035
collections bank transactions to Libmanan WD 36, 230
recorded per GL; identify; Madrid WD 6,734
(3) erroneous/non- Metro Lipa WD 199
preparation d. Ensure that checks Panabo WD 639
insufficient prepa- drawn against the bank Quezon Metro WD 334
ration of bank accounts are covered Sulat WD 548
reconciliation with sufficient funds; Surigao Metropolitan 65,939
statements WD
279
Common Audit Amount
(BRS)/subsidiary e. Cause immediate Taft WD 381
ledgers and/or Cash preparation and/or Talisay WD 21,505
Receipt Record submission of subsidiary Tangub City WD 4,960
(CRR); ledger for cash account, Taytay (Palawan) WD 5,587
(4) delayed or non- BRS, DCPRs, JEVs, Wao WD 2,636
submission of the ORs, CRR and other
BRS, Daily Cash supporting documents;
Position Reports
(DCPRs), Journal f. Effect the necessary
Entry Vouchers adjustments to reflect
(JEV), Official the correct balances of
Receipts (ORs) and the affected accounts;
other supporting
documents; g. Disclose all vital
(5) incomplete information regarding
disclosure in the the District’s operation
Notes to Financial and its account which
Statement; could not be presented
(6) negative book in the financial
balance of statements in the Notes
account; to Financial Statement;
(7) erroneous/non- and
recording of
transactions/ h. Enroll to “we access”
erroneous services of the
preparation of depository bank to
BRS; and facilitate the prompt
(8) inadequacy of the submission of the
submitted bank monthly reconciliation.
statements and/or
supporting
documents.
Collections were not Comply with Sec. 69 of Angadanan WD NQ
remitted/deposited PD 1445 and COA Asuncion WD NQ
regularly and intact, Circular 97-002 and ensure Aurora WD NQ
contrary to Section 69 that collections are Babatngon WD 7,187
of P.D. 1445 and COA deposited regularly and Baras WD NQ
Circular 97-002, intact. Barcelona WD NQ
Section 21 of the Bongabon WD NQ
Manual on the New Butuan City WD 282,993
Government Cordon WD NQ
Accounting System Damulog WD NQ
(NGAS), as well as with Donsol WD NQ
the existing Agency Gen. Natividad WD NQ
policies and regulations, Kasibu WD NQ
resulting to: Maddela WD NQ
(a) the accumulation of Marawi WD 213
undeposited collections; Pandan WD NQ
(b) untimely recording Pinamalayan WD 172
280
Common Audit Amount
of remittances; and Polanco WD NQ
(c) exposure thereof to Roxas (Isabela) WD NQ
possible loss or Silang WD NQ
misappropriation. Taytay (Palawan) WD 178
Deposit of government a. Comply with the Alimodian WD NQ
funds in various private provisions of Section 69 Angeles City WD NQ
banks is not in of PD 1445, DOF Anilao WD NQ
consonance with Department Circular Bacolor WD NQ
Section 69 of PD 1445, Nos. 001-2015 and 001- Bago City WD NQ
the Department of 2017, Department Order Concepcion (Iloilo) WD NQ
Finance (DOF) Circular No. 27-05 and LWUA Dingle-Pototan WD NQ
Nos. 001-2015 and 001- Memorandum Circular Dipolog City WD 22,346
2017, DOF Department No. 007-17 and deposit Dueñas WD NQ
Order No. 27-05 and government funds in Gattaran WD NQ
LWUA Memorandum Authorized Government Gen. MacArthur WD NQ
Circular No. 007-17. Depository Banks Kasibu WD NQ
(AGDBs); and La Trinidad WD 291
b. Seek prior approval by Metro Lipa WD NQ
DOF in maintaining a Norzagaray WD NQ
depository account with Pola WD 897
private banks/banks San Ildefonso WD 435
which are not designated Tandag WD 4,088
as AGDBs, otherwise,
transfer all government
funds to AGDBs.
Replenishment and a. Replenish the fund Angadanan WD NQ
utilization of petty cash when the disbursements Calabanga WD NQ
funds were contrary to reach at least 75%, or as City of Ilagan WD NQ
COA Circular No. 97- the need requires; Cordon WD NQ
002 and/or Section 39, Damulog WD 106
Vol. I of the NGAS b. Discontinue payments Laguna WD 644
Manual. for regular expenses out Roxas (Isabela) WD NQ
of the PCF;
reimbursement of
expenses should be paid
out of properly
approved petty cash
disbursement vouchers;
and
c. Comply with the

provisions of COA
Circular No. 97-002 and
NGAS Manual in the
utilization and
replenishment of petty
cash funds.
281
Common Audit Amount
The absence of: Prepare the required Angadanan WD NQ
(1) record of cash reports and records to Bacuag WD NQ
accountabilities; establish accountability for Barobo WD NQ
(2) report of monthly cash and to facilitate Cabusao WD NQ
accountability for monitoring of collections, Calamba WD NQ
accountable forms; deposits and Del Carmen WD NQ
(3) inadequacy of data disbursements. Gen. Mariano Alvarez 131
(4) non-preparation WD
of the required reports Kiblawan WD NQ
and other supporting Luna WD NQ
documents Maddela WD NQ
resulted in the doubtful Metro Lipa WD NQ
validity and accuracy of Pandan WD NQ
recorded transactions Reina Mercedes WD NQ
pertaining to Viga WD NQ
collections, deposits and Virac WD NQ
disbursements, contrary
to existing accounting
rules and regulations.
Loans and Other Receivables
Loans/contracts/other a. Continuously monitor Ajuy WD 1,596
receivables remained and intensify efforts to Baao WD 959
uncollected or have increase collection of Balanga WD 2,650
long been receivables through Baliwag WD 4,348
outstanding/past due/ issuance of demand Baybay City WD 1,393
dormant thus, exposing letters; Bulacan WD 2,005
the agency to liquidity Bustos WD 1,647
risk, reduced the b. Devise other options Cabangan WD 403
amount of resources for and if warranted, resort Cagayan de Oro City 989
operations/lending/relen to legal means to WD
ding that could have enforce settlement of Calabanga WD 2,353
generated additional accounts including those Calumpit WD 5,512
income for the agency, pertaining to prior years Castillejos WD 953
and casts doubt as to without request for write Catarman WD 2,195
their collectability. off; City of Koronadal WD 4,836
City of Malolos WD 10,461
c. Exhaust all viable Dinalupihan WD 2,891
means to collect all long Dipolog City WD NQ
outstanding/dormant/ Dueñas WD 1,502
delinquent receivable or Guagua WD 3,382
past due accounts and Hagonoy WD 2,368
ensure proper Hermosa WD 277
documentation of Jose Panganiban WD 1,501
accounts and Libmanan WD 1,474
coordination of Limay WD 1,075
concerned Agencies; Lubao WD 2,191
Maasin WD 1,116
d. Set collection targets to Marawi WD 53,439
determine and assess Marilao WD 15,183
282
Common Audit Amount
collectability of the Mariveles WD 1,675
accounts as basis for Metro Lipa WD 55,513
further action to be Metropolitan Naga WD 5,395
undertaken; Meycauayan WD 12,033
Naujan WD 432
e. Strictly impose Odiongan WD 176
disconnection policy for Orani WD 1,413
active water Orion WD 856
concessionaires with Paracale WD 7,010
past due accounts; and Pilar (Sorsogon) WD 1,031
Pili WD 3,557
f. Conduct in-depth Plaridel WD 1,069
analysis and verification Polomolok WD 8,720
of the receivables, and Puerto Princesa City 32,339
request from COA for WD
possible write-off of Romblon WD 232
those deemed San Ildefonso WD 3,128
uncollectible accounts San Jose Del Monte City 23,661
after exerting all efforts WD
and complying with the San Miguel WD 1,726
requirements for write- San Rafael (Bulacan) 1,593
off of dormant accounts WD
pursuant to COA Santa Maria (Bulacan) 2,109
Circular No. 2016-005. WD
Silang WD 1,811
Sindangan WD NQ
Sta. Cruz (Zambales) 584
WD
Subic WD 3,156
Tanauan WD 10,227
Tanza WD 971
Tarlac City WD 8,374
Taytay (Palawan) WD 1,570
Viga WD 340
Discrepancies between a. Analyze the causes of Aurora WD 254
the General Ledger discrepancies between Baao WD 307
(GL) and Subsidiary the GL and SLs, Bacuag WD 427
Ledgers (SLs)/ reciprocal accounts, Baguio WD 1,229
reciprocal accounts of aging schedules, and Baler WD 461
receivable and payable confirmation replies and Bocaue WD 1,324
and/or against the aging cause the Butuan City WD 9,366
schedules/Monthly Data reconciliation/adjustmen Cabanatuan City WD 249
Sheet (MDS)/results of t of affected accounts to Cadiz City WD 1,948
confirmation resulted in reconcile their balances; Calabanga WD 2,191
unreconciled items, Calumpit WD 177
hence, the correct b. Coordinate with the City of Malolos WD 570
balances of receivable Programmer whether Cordon WD 3,792
accounts cannot be there are ways for the Dingle-Pototan WD 621
283
Common Audit Amount
ascertained. system to generate Dumangas-Barotac 616
reports which would Nuevo WD
help the Accounting and Gen. Mariano Alvarez 8,606
Billing to reconcile both WD
records; or Hinatuan WD 2,888
Laguna WD 11,378
c. Consider acquiring a Libmanan WD 211
new Billing and Malaybalay City WD 1,783
Collection System Mambajao WD 126
which have been proven Manolo Fortich WD 1,598
and tested by other Metropolitan 8,334
established WDs that Tuguegarao WD
could meet the Norzagaray WD 895
reportorial demands of Odiongan WD 526
the district. Quezon Metro WD 6,171
WD
Santiago WD 9,010
Sibulan WD 449
Sindangan WD 326
Sto. Niño (Cagayan) 408
WD
Surigao Metropolitan 350
WD
Tabaco City WD 120
Talisay WD 17,077
Tanauan WD 475
Tanay WD 203
Virac WD 586
Unsubstantiated/incomp a. Exert all effort to trace Abulug WD 1,627
lete/ non- the balances of Aleosan WD 582
maintenance/absence of receivables accounts and Alimodian WD 709
reports, subsidiary locate their supporting Amulung WD 1,521
ledgers/ contracts/aging documents; Anilao WD 990
schedules and/or non- Cabusao WD NQ
submission of b. Maintain/update the Cadiz City WD 1,028
supporting documents required SLs/aging Gattaran WD 815
cast doubts on the schedules; and Gen. MacArthur WD 197
existence/ accuracy of Jordan WD 1,888
the receivable and the c. Execute the required Kumalarang WD NQ
Corporation’s rights contract and/or locate Lemery WD 848
over them. and submit the required Leyte Metropolitan WD 6,064
documents to establish
validity of claims and to
support the recorded
transactions in the
books.
284
Common Audit Amount
Erroneous recording/ Prepare the necessary Cagayan de Oro City 176,231
classification or non- adjusting entry to reflect WD
recognition/non- the accurate balance of the Dipolog City WD 13,572
recording in the books accounts affected. Hinatuan WD 805
of accounts resulted in Silang WD 253
the doubtful validity of
the accounts and
misstatement of the
affected accounts.
Allowance for a. Classify and evaluate Abulug WD NQ
impairment the receivable accounts Ajuy WD NQ
loss/doubtful correctly to determine Angadanan WD NQ
accounts/bad the appropriate Angeles City WD 20,480
debts/probable loss was allowance for doubtful Anilao WD NQ
either (a) not provided accounts and to Bombon WD NQ
or (b) in excess or recognize impairment Cagayan de Oro City WD 33,658
inadequate due to loss in compliance with Cantilan WD 936
deficiencies/errors in PAS 39; City of Koronadal WD 654
computation/without Concepcion (Iloilo) WD NQ
bases/absence of b. Prepare adjusting entries Culion (Palawan) WD 653
objective evidence of to ensure fair Dingle-Pototan WD 3,531
asset impairment, presentation of the net Dipolog City WD NQ
contrary to PAS 39/Sec. realizable value of the Dueñas WD NQ
66 of NGAS/PFRS 9, receivable accounts and Dumangas-Barotac Nuevo NQ
resulting in the the related expense Gen. Mariano Alvarez 771
misstatement of the accounts in compliance WD
receivable and related with PAS 39. Jordan WD 1,888
expense accounts. Lemery (Iloilo) WD NQ
Macabebe WD 1,221
Maramag WD 4,792
Naval WD 2,019
Prosperidad WD 918
Puerto Princesa City WD 26,300
Roxas (Or. Mindoro) WD 6,506
San Joaquin WD 910
Sibulan WD 1,742
Silang WD NQ
WD
Taft WD 1,186
Talibon WD 1,789
Talisay WD 296
Tanauan WD 2,151
Tanay WD 2,240
Cash Advances
Cash advances granted a. Cause the immediate Bacuag WD 189
285
Common Audit Amount
to officers and liquidation of all Del Carmen WD 102
employees remained outstanding cash Naval WD 451
unliquidated; additional advances where the Pinamalayan WD 649
cash advances were purpose/s for which Puerto Princesa City NQ
granted despite failure were already served and WD
to liquidate previous those which remained Quezon Metro WD 4,531
cash advances received unused for over two Silang WD 221
from the Agency, months in accordance Sulat WD 337
contrary to COA with existing laws, rules Surigao Metropolitan 1,272
Circular Nos. 97-002 and regulations; WD
and 2012-004 and
Section 89 of P.D. b. Refrain from granting
1445. additional cash advances
to those with still
unliquidated prior cash
advances; and.
c. Take appropriate legal

actions to enforce the
liquidation or recovery
of unliquidated cash
advance.
Cash advances were Require liquidation of cash Metropolitan Naga WD NQ
liquidated beyond the advances within the Surigao Metropolitan 1,031
prescribed period reglementary period as WD
contrary to EO 298 provided for under EO
(Rules and 298.
Regulations on Official
Local and Foreign
Travels of Government
Personnel).
Documents to support a. Require the Roxas (Palawan) WD 1,877
the liquidation of cash Accounting Unit not to Surigao Metropolitan 888
advances were process liquidations of WD
incomplete/deficient Cash advances if they Taytay (Palawan) WD 2,056
contrary to Section 4(6) are not supported with
of Presidential Decree the required
(PD) No. 1445 and documents;
COA Circular No.
2012-001 dated June b. Submit the lacking
14, 2012, thus, validity documents and ensure
and propriety of the that liquidations of
reported expenditures cash advances are
could not be fully supported with
substantiated. complete
documentation; and
c. Verify the
completeness of
286
Common Audit Amount
supporting documents
before certifying any
claims for payment in
compliance with
Section 4(6) of
Presidential Decree
(PD) No. 1445.
Cash advances granted a. Comply strictly with Bacolor WD 451

to officials/employees laws, rules and Cadiz City WD NQ
were used as payment regulations on the grant Dipolog City WD 28,180
for the procurement of and utilization of cash Macabebe WD 168
supplies and materials advances; Puerto Princesa City NQ
and other regular WD
expenses or has no b. Observe the provision of Subic WD 1,401
specific legal purpose in R.A. 9184 in the
violation of Section 93 procurement of supplies,
of PD 1445, Sec. 10 of materials and
R.A. 9184 and COA equipment; and
Circular 97-002, and
resulted in the non- c. Withhold applicable
withholding of taxes from payment to
applicable taxes suppliers.
contrary to Revenue
Memorandum Order
(RMO) No. 23-2014
dated June 20, 2014.
Erroneous Prepare the necessary Leyte Metropolitan WD 1,714
recording/non- adjusting entry to reflect Surigao Metropolitan NQ
recognition in the books the accurate balance of the WD
of accounts resulted in accounts affected.
doubtful validity of the
recorded cash
advances/receivables
account and other
affected accounts.
Inventories
The accuracy and a. Conduct physical count Anilao WD 267
existence of various of inventories; Aroroy WD 2,258
recorded inventory Baao WD 1,535
items could not be b. Analyze, reconcile and Bacuag WD 383
determined due to either provide full accounting Barcelona WD 602
or combination of the of the differences in the Baybay City WD 4,299
following: books/records/reports/ Bombon WD 194
a) incomplete/non- stock cards and the Butuan City WD 425
conduct of physical physical count and Calabanga WD NQ
count; effect the necessary Calamba WD 19,089
b) unreconciled adjustments to reflect Donsol WD 219
287
Common Audit Amount
balances; the correct book balance Gen. MacArthur WD 238
c) discrepancies of the of inventories; General Santos City WD 39,479
balances in the Libmanan WD 2,348
books as against the c. Submit the required Maddela WD 1,853
report on the supporting documents; Metro Lipa WD 216
physical count; Metro Siargao WD 447
d) discrepancies d. Conduct periodic Metropolitan Naga WD 2,319
between the stock reconciliation of the Metropolitan 1,350
cards or inventory accounting and supply Tuguegarao WD
reports, stock cards records with the RPCI; Naval WD 3,155
and report on the Peñablanca WD 277
physical count; e. Prepare, maintain and Pinamalayan WD 4,279
e) absence or update regularly the Polomolok WD 9,133
incomplete Stock Ledger Cards, as Quezon Metro WD 28,870
records/reports/contr well as the Subsidiary Reina Mercedes WD 2,162
acts/subsidiary Ledgers for each item as Roxas (Isabela) WD 1,142
ledgers (SLs)/stock control records and to Santiago WD 6,980
cards and other facilitate the Sto. Niño (Cagayan) 229
supporting reconciliation of WD
documents; balances; and Surigao Metropolitan 17,040
f) existence of WD
negative balances; f. Ensure the monthly Talisay WD 2,347
and submission of the Tanauan WD 124
g) usage of Report of certified correct Journal Tanay WD 850
Supplies and Entry Vouchers together
Materials Issued not with the supporting
in the prescribed documents such as the
form and not Report on Supplies and
supported with the Materials Issued (RSMI)
Requisition and and corresponding
Issue Slip. Requisition and Issue
Slips for issuance of
inventories.
Property, Plant and Equipment (PPE)
The reliability of the a. Conduct and/or Abulug WD 25,987
balance of the Property, complete the physical Ajuy WD 5,757
Plant and Equipment count of PPE; Aleosan WD 2,587
(PPE) accounts was Angadanan WD 3,792
doubtful due to any or b. Analyze and reconcile Anilao WD 3,482
combination of the the Inventory Report Aroroy WD 3,150
following conditions: with the accounting and Aurora WD 3,783
a) incomplete/non- property records to Baao WD 5,737
conduct of physical establish the accuracy of Babatngon WD 7,181
count; the recorded balances of Bacacay WD 8,021
b) partial/non- the PPE accounts; Bacolod (Lanao del 26,570
reconciliation of the Norte) WD
results of physical c. Prepare the necessary Bansalan WD 52,881
count with book adjusting entries to Barcelona WD 334
balances and relevant correct the balances of Baybay City WD 54,030
288
Common Audit Amount
accounting records; the affected accounts; Bayugan WD 441
c) absence/non- and Bombon WD 30,916
submission of Bongabon WD 29,473
physical inventory d. Prepare and submit the Bustos WD 44,688
report; required supporting Butuan City WD 6,442
d) existence of documents/reports. Cabagan WD 31,126
abnormal Cabusao WD NQ
balances/unrecorded Calamba WD 614,908
items; City of Malolos WD 272,257
e) discrepancies Concepcion (Iloilo) WD 12,106
between the General Culion (Palawan) WD 21,962
Ledger (GL) and Damulog WD 3,569
Subsidiary Ledgers Del Carmen WD 9,297
(SLs) or physical Diffun WD 20,261
count; Dingle-Pototan WD 65,795
f) absence/incomplete Dipaculao WD 3,218
supporting Dipolog City WD 165
documents/SLs/prope Donsol WD 1,815
rty cards; Dueñas WD 8,709
g) inclusion of Dumangas-Barotac 25,483
unserviceable Nuevo WD
properties; and Gattaran WD 9,789
h) reconciling items General Santos City WD 524,617
remain unadjusted in Hernani WD 4,845
the property and Igacos WD 23,018
accounting records. Ilocos Norte WD 19,985
Jaro WD 10,936
Jordan WD 24,447
Kapatagan WD 58,206
Kauswagan WD 17,324
Kibawe WD 12,701
Kolambugan WD 8,054
Kumalarang WD 143
La Trinidad WD 38,228
Laguna WD 449,435
Legazpi City WD 397,330
Lemery (Iloilo) WD 12,065
Leyte Metropolitan WD 1,474
Libmanan WD 5,771
Licab WD 37,245
Linamon WD 5,611
Lupao WD 24,275
Maasin WD 28,441
Maddela WD 22,063
Malinao WD 2,330
Marawi WD 42,918
Metro Lipa WD 5,298
Meycauayan WD 128,744
Naval WD 1,338
289
Common Audit Amount
Norzagaray WD 136,630
Peñablanca WD 13,715
Pilar (Capiz) WD 22,406
Pili WD 1,010
Pola WD 9,793
Puerto Princesa City 780,851
WD
Romblon WD 13,501
Roxas (Or. Mindoro) 350
WD
Roxas (Palawan) WD 27,676
San Isidro (Northern 3,428
Samar) WD
Santiago WD 557,770
Sibulan WD 5,742
Sto. Niño (Cagayan) 11,545
WD
Sultan Kudarat WD 172,325
Surigao Metropolitan 3,881
WD
Talisay WD 51,249
Tanauan WD 269,196
Tanay WD 164,278
Tandag WD 143,131
Tangub City WD 90,894
Tanza WD 1,549
Tubod-Baroy WD 17,414
Valencia City WD 157,132
Virac WD 116
Zarraga WD 34,303
Non- a. Conduct periodic Baao WD NQ
recording/erroneous reconciliation of the Bacacay WD 509
recording of agencies financial B.E. Dujali WD 1,634
transactions or reports and records on Bacuag WD 278
misclassification/non- implemented projects, as Bago City WD 4,670
reclassification/non- these reports and records Bombon WD NQ
reconciliation of are accounting and Butuan City WD 2,608
accounts such as auditing tools in Cadiz City WD 12,729
Services and Meters establishing the correct Carcar WD 22,320
account/non-transfer of balance of the CIP; Carmen (Davao del 592
completed PPE Norte) WD
structure/projects from b. Transfer completed Castillejos WD 585
the Construction in projects from the CIP Culion (Palawan) WD 1,379
Progress (CIP) accounts account to the respective Davao City WD 796,275
290
Common Audit Amount
resulted in the asset account; Digos WD 30,578
misstatement of the Dipaculao WD 7,274
PPE, CIP and other c. Record the transferred Donsol WD 24,374
related accounts. PPE at its net carrying Gen. Mariano Alvarez 2,069
value, or at fair value; WD
Kapalong WD 1,698
d. Prepare the necessary La Trinidad WD 6,516
adjusting entries to Leyte Metropolitan WD 75,327
reflect the accurate Libmanan WD 2,474
balances of the PPE, Lupon WD 1,195
CIP, and other related Maasin WD 6,271
accounts; and Malaybalay City WD 1,006
Maramag WD 1,793
e. Reclassify the Meters Mati WD 4,166
account to Other Metro Lipa WD 6,732
Supplies Inventory – Nabunturan WD 15,984
Meters. Norzagaray WD 621
Oras WD 210
Paracale WD 800
Romblon WD 297
San Jose (Occ. Mindoro) 118
WD
Silang WD 2,648
WD
Tanza WD 5,991
Unexpended balance of a. Revisit the process in Davao City WD 135,380
funds from completed preparation of Project Digos WD 6,622
projects under Completion and
Construction in Inspection Report
Progress (CIP) account (PCIR) by the
as at December 31, implementing
2017 were not reverted department and
to General Fund, but reconciliation in actual
allowed to remain in the cost to the Accounting
account until the Department;
balances are almost
exhausted for improper b. Require the Personnel In
charges, depriving the charge of the
District to utilize the implementing projects
savings for more to immediately submit
important program, to the Accounting
projects and activity Department the
which are needing fund documents of the
augmentation. completed projects
which are necessary to
support the reversion of
the unexpended balance
from completed
291
Common Audit Amount
projects; and
c. Revert immediately the

unexpended balance of
funds from completed
projects to General Fund
for augmentation to
other deficient
appropriations for
project, activity and
program.
PPE items were not Systematically allocate Laguna WD 450,046
depreciated or the depreciable amount of an Manolo Fortich WD 217
corresponding asset over its estimated Quezon Metro WD 27,225
depreciation were useful life by recognizing Talisay WD 45,310
erroneously computed depreciation expense to Talisayan WD 4,629
which runs counter to present the asset’s net
PAS 16 and COA carrying amount.
Circular No. 2003-007,
resulting in the
misstatement of PPE
and other related
accounts.
Depreciation Expense a. Prepare Journal Entry Ajuy WD 194
and total Accumulated Voucher (JEV) to adjust Buenavista Agusan del Norte 3,389
Depreciation were the Accumulated Pola WD 3,888
found unreliable due to Depreciation and other
the discrepancies related accounts;
between the balance per
Statement of Financial b. Prepare Lapsing
Position and the balance Schedule for all PPE to
per audit due to the support the monthly
change in the useful life depreciation expenses;
of the PPE and non- and
preparation of Lapsing
Schedule to support the c. Disclose the nature and
recording of effect of any change in
depreciation expense an accounting estimate
for each category of that has an effect in the
PPE. current period or is
expected to have an
effect in subsequent
periods in accordance
with Philippine
Accounting Standard
(PAS) 8.
Unserviceable/obsolete a. Conduct complete Bacacay WD 1,156
properties remained inspection and actual Bago City WD 8,493
292
Common Audit Amount
undisposed. inventory of obsolete Baler WD 103
and unserviceable Bocaue WD 5,136
properties; Bustos WD 560
Castillejos WD 1,475
b. Cause the disposal of City of Malolos WD 227
the unserviceable Dingle-Pototan WD 759
property in accordance Dumangas-Barotac Nuevo 1,035
with Sec. 79 of PD WD
1445, COA Circular Floridablanca WD 10,009
No. 89-296, and Sec. 64, Jose Panganiban WD 730
Volume II of the NGAS Macabebe WD 7,482
Manual; and Metropolitan Naga WD 1,164
Pili WD 2,200
c. Reclassify said items Porac WD 610
pending their disposal in Romblon WD NQ
accordance with San Isidro (Northern 120
applicable accounting Samar) WD
standard requirement/s. San Jose Del Monte City 2,339
WD
Santa Maria (Bulacan) 872
WD
Tabaco City WD 10,277
Tanza WD 1,839
Victoria WD 410
Non-revaluation/non- Conduct appraisal of all Asuncion WD 32,873
appraisal of Property, PPE by an independent B.E. Dujali WD 8,044
Plant and Equipment and qualified appraiser or Baganga WD 6,092
(PPE) was contrary to expert as required under Bansalan WD 52,290
paragraphs 31 and 32 of PAS 16 and COA Carmen (Davao del Norte) 11,264
Philippine Accounting Resolution No. 89-17. WD
Standards (PAS) 16 and Davao City WD 1,718,112
COA Resolution No. Digos WD 107,962
89-17, thus, rendered Hagonoy (Davao del Sur) 16,355
the balances of the PPE WD
accounts doubtful. Igacos WD 11,332
Kapalong WD 4,099
Kiblawan WD 7,427
Lupon WD 29,638
Maasin WD 28,441
Mati WD 34,830
Nabunturan WD 6,271
Naval WD 54,267
New Corella WD 21,292
Panabo WD 92,861
San Isidro (Davao Oriental) 9,623
WD
293
Common Audit Amount
Intangible Assets
Acquired and internally a. Prepare the necessary Cabanatuan City WD 6,503
generated computer adjusting entries for the Norzagaray WD 145
software was fair presentation of the Santa Rosa (Nueva Ecija) 3,230
recognized in the books affected accounts; and WD
as PPE instead as Talavera WD 278
Intangible Assets b. Recognize intangible Talugtug WD 235
account contrary to PAS assets in accordance
38. with PAS 38.
Other Assets
Erroneous Analyze and prepare the Bato (Catanduanes) WD 1,397
recording/non-recording necessary adjusting entries Jose Panganiban WD 2,220
classification/ to reflect the accurate Sablayan WD 954
presentation/unreconcil balance of the other asset San Andres WD 710
ed amounts of other and affected accounts.
assets resulted in the
misstatement of the
other asset accounts
thus, affected the
reliability/accuracy of
Other Assets and the
related affected
accounts.
Loans/Accounts Payable and Other Payables
Several payable a. Analyze and confirm the Babatngon WD 1,349
accounts remained payable accounts to Bago City WD 227
outstanding/ determine their validity Benito Soliven WD 824
dormant/not settled for and completeness; revert Butuan City WD 745
more than one year to Retained Earnings Cordon WD 30,675
resulting in the undocumented payables Marawi WD 50,541
accumulation of long which have been Sibulan WD 890
outstanding payables outstanding for more Sindangan WD NQ
account and/or than two years as Tanauan WD 1,623
incurrence of interest provided under PD
and penalties for non- 1445; and
payment of the loans in
violation of the b. Strictly observe the
pertinent provisions of provisions on debt
the contract/ servicing and update the
MOA/rules/regulations/ monthly amortizations
Section 61 (e) of PD to avoid further
198 as amended by incurrence of penalties
Section 31 of PD 768 and interest.
and Sections 59 and 98
of PD 1445.
294
Common Audit Amount
Non-maintenance/ Submit the required Aleosan WD 417
incomplete /absence of supporting documents, Bocaue WD 401
reports/ supporting schedules, reports, SLs to Cabanatuan City WD 894
documents/ subsidiary prove existence, accuracy Cagayan de Oro City NQ
ledgers (SLs)/ schedules and validity of WD
to establish validity of loan/accounts and others City of Malolos WD 2,556
various payables. Dingle-Pototan WD 68,081
transactions/contracts Norzagaray WD 5,497
rendered the accuracy Sulat WD 1,048
and validity of the Victoria WD 11,961
payable transactions
and balances doubtful.
Non-reconciliation of a. Properly monitor the Abulug WD 1,786
the balances WDs payment of Ajuy WD 136
appearing in the loans, review the Loan Alimodian WD 194
general ledger of the Agreement and trace Aroroy WD 1,706
Water District with all the previous Asuncion WD 1,804
the records of the payments made; and B.E. Dujali WD 2,856
LWUA/confirmation Baao WD 6,330
replies from other b. Reconcile the balance Baganga WD 672
lenders resulted in the of the Loans Payable Barcelona WD 14,905
discrepancy which account per book of Bayugan WD 728
rendered the balance the Agency and per Carmen (Davao del 4,622
of the Loans Payable records; and Norte) WD
and other related Cordon WD 8,007
payable accounts c. Prepare corresponding Davao City WD 1,213
doubtful, contrary to adjusting entries as Dingle-Pototan WD 24,188
Section 111(1) and/or soon as the cause of Donsol WD 120
Sec. 59 of P.D. 1445 the difference is Dumangas-Barotac 2,117
and 73(a) of the New established. Nuevo WD
Government Gattaran WD 3,304
Accounting System Gen. MacArthur WD 15,079
(NGAS) Manual, Hagonoy (Davao del 3,877
Volume I. Sur) WD
Hernani WD 276
Igacos WD 260
Kapalong WD 492
Kiblawan WD 138
Lal-lo WD 6,539
Lemery (Iloilo) WD 195
Lupao WD 2,261
Lupon WD 11,457
Maddela WD 3,329
Mati WD 3,413
Nabunturan WD 3,612
New Corella WD 10,362
295
Common Audit Amount
Pilar (Sorsogon) WD 7,083
Pinamalayan WD 1,500
Roxas (Or. Mindoro) 4,953
WD
San Isidro (Davao 6,979
Oriental) WD
Santiago WD 30,970
Sulat WD 4,518
Victoria WD 11,248
Erroneous Analyze/reconcile and Ajuy WD 1,712
classification/ prepare the necessary Anilao WD 11,038
recording/presentation/n adjusting entries to reflect Aroroy WD 553
on-recording/inclusion the correct balances of the Babatngon WD 1,190
of transactions without loans/accounts payable and Barcelona WD 2,165
basis/ non-recognition related affected accounts. Baybay City WD 2,063
in the books of Butuan City WD 82,241
loans/other payables/ Cabanatuan City WD 18,693
existence of Cabangan WD 1,773
discrepancies between Catarman WD 1,214
SL and GL balances Cordon WD 9,084
which practices were Culion (Palawan) WD 394
contrary to COA Davao City WD 34,019
Circular No. 2015-010 Kiblawan WD 423
and/or PAS 1 resulted Leyte Metropolitan WD 99,758
in the misstatement of Licab WD 2,071
the liability accounts, Metro Lipa WD 7,089
thus, affected the Metropolitan 12,689
reliability/ accuracy of Tuguegarao WD
the payable balances Naval WD 1,872
and the related affected Pandan WD 4,714
accounts. Paracale WD 3,399
Polanco WD 1,327
WD
San Andres WD 325
Santiago WD 1,562,781
Silang WD 4,206
Sulat WD 174
Taft WD 1,818
Talugtug WD 6,582
Taxes Payable
Non-withholding from Comply with the BIR Angadanan WD 304
government money regulations on the Anilao WD 809
payments or non- withholding of government Aroroy WD NQ
296
Common Audit Amount
remittance/ non- money payments; Babatngon WD NQ
payment of various remit/pay on time the taxes Bacolod (Lanao del NQ
taxes withheld/delayed/ withheld/tax due to the Norte) WD
deficient payment of BIR to prevent incurrence Baguio WD 444
taxes due to the Bureau of interest, penalties and Barcelona WD NQ
of Internal Revenue surcharges. Cabanatuan City WD 1,489
(BIR) exposed the Donsol WD NQ
agency to interest, Gen. MacArthur WD NQ
penalties and surcharges Lianga WD NQ
per applicable BIR Naval WD NQ
regulations/ Pilar (Sorsogon) WD NQ
memorandum circulars Puerto Princesa City 1,587
and the National WD
Internal Revenue Code. Quezon Metro WD 4,729
Sto. Niño (Cagayan) 140
WD
Sulat WD NQ
Tarragona WD NQ
Franchise tax of 2% of Discontinue passing-on of San Ildefonso WD 1,152
total water bills was franchise tax and comply Talugtug WD 229
passed-on to with the requirement of the
concessionaires, thus, NIRC.
the burden for which
the District is liable was
transferred to its
customers contrary to
Title V of the National
Internal Revenue Code
(NIRC) of 1997.
Leave Benefits Payable

Employees’ benefit a. Prepare the necessary Baliwag WD 7,773
were: adjusting entries to Bislig WD 1,567
a) insufficient/not record the accrued Cabangan WD 1,228
recognized/incorrectly liability pertaining to the City of Malolos WD 628
recorded in the books of earned leave benefits of Gerona WD 2,155
the expected cost of the employees after Moncada WD 2,482
short-term employee ensuring the correctness Plaridel WD 518
benefits of compensated of the accumulated Prosperidad WD 248
absences as of year-end; leave credit balances of Ramos WD 1,094
or b) failure to accrue employees as of the end Subic WD 7,579
the liability for the of the year; Talibon WD 755
unused portion of the Talugtug WD 627
employees’ earned b. Require the leave in- Tandag WD 2,414
leave credits; or charge to submit to the
c) insufficient/no Accounting Unit the
reserve fund were set periodic report on
aside for the purpose accumulated leave
297
Common Audit Amount
contrary to PAS 19 and balances to facilitate the
Item 3.2 of the DBM recognition of the cost
Budget Circular No. of the compensated
2002-1, resulting in the absences incurred for
under-statement of the current year;
liability and
overstatement of net c. Provide the necessary
income. cash reserve to ensure
its availability in the
event of the employees’
retirement; and
d. Strictly adhere with the

provisions of the
Philippine Accounting
Standards (PAS) in
recording transactions
pertaining to employees’
benefits of the Water
District.
Surplus/Capital accounts
Misstatement of the Prepare necessary Gen. MacArthur WD 4,665
Government Equity and adjusting entry to reflect Sulat WD 3,165
Due to Government the correct amount.
Corporations due to
error in recognizing the
financial assistance
from LWUA.
Revenue/Income accounts
Erroneous recording of Prepare the necessary Baybay City WD 4,655
transactions resulted in the adjusting entries to reflect the Laguna WD 506
misstatement of the accurate amount of the Naval WD 166
income and other affected income and affected Quezon Metro WD 2,474
accounts contrary to accounts.
PAS18/PAS 20 and COA
Water consumption of a. Recognize as income Muñoz WD 1,896
concessionaires for the water consumption Norzagaray WD 8,498
December were not of concessionaires for Ramos WD 1,368
accrued and recognized the month of December Santa Rosa (Nueva Ecija) 1,232
as Income contrary to in accordance with PAS WD
Philippine Accounting 1 and 18; and Talavera WD 2,059
Standards (PAS) 1 and
18, thus resulted in the b. Prepare the necessary
understatement of adjusting entries for the
Income and Receivable fair presentation of the
accounts. affected accounts.
298
Common Audit Amount
Charges for (a) water a. Distinguish from its Gen. Natividad WD 321
meter maintenance or books the unearned Muñoz WD 565
replacement; and (b) advance payments made Santa Rosa (Nueva Ecija) 1,843
services not yet for the water meter WD
rendered were maintenance or Talavera WD 1,927
recognized as Income replacement that were
contrary to Philippine recognized as income
Accounting Standards and prepare the
(PAS) 1 thus, resulted necessary adjusting
in the overstatement of entries for the fair
Retained Earnings and presentation of the
understatement of affected account; and
Deferred Credits.
b. Henceforth, recognize
income in accordance
with PAS No. 1.
Non-compliance with a. Strictly comply with the Abulug WD NQ
the Pertinent provision/s provisions of COA Amulung WD 7,619
of R.A. 9184 as Circular 2009-001, R.A. Angeles City WD NQ
amended and its 9184 and its RIRR, Aparri WD 29,239
Revised Implementing GPPB Circular, COA Aroroy WD NQ
Rules and Regulations Circular Nos. 2009-001 Baao WD NQ
(RIRR) and/or and 96-010 in the Bacacay WD 257
Memorandum Order procurement of goods, Bacolod (Lanao del 2,285
No. 15 dated May 9, services and Norte) WD
2011/requirements of infrastructure projects; Bacolor WD NQ
the Government and Balanga WD NQ
Procurement Policy b. Persons responsible Bislig WD NQ
Board (GPPB) Circular should be made to Butuan City WD 47,053
and/or non-compliance answer for any Cagayan de Oro City 900
with COA Circular Nos. damage/s that were WD
2009-001 and 96-010 caused due to the Carcar WD NQ
on the submission of delayed and/or non- Castillejos WD NQ
pertinent documents delivery of the procured Concepcion (Tarlac) NQ
relative to government goods. WD
contracts in the Dinalupihan WD NQ
procurement of goods Gattaran WD NQ
and services and Gen. Mariano Alvarez 21,421
infrastructure projects. WD
Gerona WD NQ
Gingoog City WD NQ
Hermosa WD NQ
Ilocos Norte WD 2,595
Legazpi City WD NQ
Limay WD NQ
Luna WD NQ
Mabalacat City WD NQ
Maramag WD 754
Mariveles WD NQ
299
Common Audit Amount
Masantol WD NQ
Metro Cotabato WD 35,000
Metro Lipa WD 63,978
Metro Siargao WD 190
Metropolitan Naga WD NQ
Meycauayan WD NQ
Moncada WD NQ
Orani WD NQ
Orion WD NQ
Paniqui WD NQ
Polanco WD 2,295
Quezon Metro WD NQ
Ramos WD NQ
San Miguel WD NQ
Santiago WD 356
Sindangan WD 230
WD
Tabaco City WD NQ
Tanauan WD 40,306
Tanay WD 1,753
Tanza WD 7,132
Non-compliance with a. Start procuring Aurora WD NQ
the provisions of common-use supplies Cordon WD NQ
Administrative Order and materials from the Kapatagan WD NQ
No. 17 on the Procurement Service Kasibu WD NQ
procurement of pursuant to the Kauswagan WD NQ
common-use supplies provisions of Kolambugan WD NQ
and materials from the Administrative Order Linamon WD NQ
Procurement Service No. 17; Luna WD NQ
(PS). Tubod-Baroy WD NQ
b. Secure a certification
that supplies and
materials are not
available before
procuring from other
suppliers, in cases that
items are not available
from the PS; and
c. Procurement of supplies
regularly needed should
be done on a quarterly
basis.
Non-compliance with a. Strictly comply with the City of San Fernando 271,495
the provisions of the 2013 NEDA JV WD
2013 NEDA Revised guidelines and the Floridablanca WD NQ
300
Common Audit Amount
Guidelines and provisions/terms of the Guagua WD NQ
Procedures for Entering JV contract on entering Meycauayan WD 216,199
into Joint Venture and performance of Paniqui WD 150,648
Agreements (JVA) JVA; and Tarlac City WD 250,098
between Government
and Private Entities/not b. Coordinate with and
aligned with existing have dialogues with
laws/lack of specific various government
guidelines on entering bodies like OP, NEDA,
into a JVA and/or LWUA, BIR, DOJ,
violation of DBM, CSC and COA
provisions/terms of the for guidance to resolve
JV contract by the JV issues on JVA.
partners.
Non-imposition of a. Demand payment of General Santos City WD 167
sanctions/non-collection liquidated damages from Maramag WD 2,318
of liquidated damages contractors for delayed Metropolitan 559
for delayed delivery of deliveries; and Tuguegarao WD
goods/ services as
required under the b. Ensure that Purchase
Revised Implementing Orders are properly
Rules and Regulations accomplished so that
(RIRR), R.A. 9184. sanctions can be
imposed for non-
compliance of the
provisions thereof.
Transactions were paid a. Ensure that all claims Calamba WD 998
without complete are properly and Gen. Mariano Alvarez 1,328
supporting completely supported WD
documentation in with documents to Laguna WD 264
violation to Sections establish the correctness
4(6) and 124 of PD No. of the claims pursuant to
1445, COA Circular the pertinent provisions;
2012-001 dated June and
14, 2012, Section 361 b. Strengthen the internal
of GAAM Volume 1, control system on
and COA Circular disbursement of the
2009-001. Agency’s working fund
by adhering to laws and
regulations.
Property, plant and Comply with COA Abulug WD NQ
equipment Circular No. 92-390 by Ajuy WD 5,757
(PPE)/acquired assets submitting the list of all Anilao WD 9,648
were not covered/with insurable assets and Balanga WD 71,360
expired/not properties of the GC to the Bombon WD NQ
updated/delayed GSIS to ensure that these Cabusao WD NQ
renewal of insurance are covered with adequate Cagayan de Oro City NQ
with GSIS General insurance with the General WD
301
Common Audit Amount
Insurance Fund and the Insurance Fund, to protect City Ilagan WD 122,394
Property Replacement the interest of the GC City of Koronadal WD 10,976
Fund contrary to COA concerned. Concepcion (Tarlac) 7,982
Circular 92-390, and WD
RA No. 656, as Cordon WD NQ
amended, thus, Del Gallego WD 59,946
exposing the agency to Dueñas WD 7,861
risk of not being Dumangas-Barotac 25,483
indemnified or Nuevo WD
compensated in case of Gattaran WD NQ
damage or loss of Gen. Natividad WD 22,261
property due to fire, or Hermosa WD 48,213
other fortuitous Jose Panganiban WD 16,498
event/casualty. Libmanan WD 58,624
Luna WD 13,000
Marilao WD 178,882
Orion WD 14,179
Paracale WD 28,472
Polanco WD 57,179
San Joaquin WD 10,171
Sibulan WD 47,879
Sta. Cruz (Zambales) 6,577
WD
WD
Talibon WD 21,613
Talugtug WD 11,685
Tanza WD NQ
Zarraga WD 31,756
Payment of a. Adhere to pertinent Aroroy WD 413
compensation/ compensation laws, Baguio WD 35,830
Additional rules and regulations in Baliwag WD 778
Compensation the grant of Gen. Mariano Alvarez 5,508
(AdCom) and Personnel compensation, WD
Economic Relief allowances, bonuses and La Trinidad WD 287
Allowance (PERA), other benefits; Metro Cotabato WD 1,561
and/or allowances Metropolitan Naga WD 6,100
and/or other benefits b. Submit documents Polanco WD 3,709
and incentives and indicating prior approval Quezon Metro WD 7,994
Extraordinary and by the Office of the Sibulan WD 3,994
Miscellaneous Expenses President as required Silang WD 8,948
(EME) to the Agency’s under Presidential Trece Martires City WD 1,388
BOT/BOD/officers/ Decree (PD) No.
employees/Management 1597/by the Governance
Committees/hired Commission for
employees under Government Owned or
302
Common Audit Amount
Contract of Services or Controlled Corporation
Job Orders/tobacco (GCG); or
farmer cooperators were
without bases/contrary
to existing laws, rules c. Discontinue the
and regulations and/or payment of
Executive Order No. compensation/
181 s. 2015 of the allowances/benefits/
Office of the President incentives in the
or the LWUA absence of legal basis/
Memorandum Circular authority to grant the
No. 007.15 (PBI)(PEI) same.
Executive Order (EO)
Nos. 248 and 298 or
LWUA Memorandum
Circular No. 009-12
(Foreign travel DSA)
for WDs, Section 4 of
PD 1445, Republic Act
6758, DBM Corporate
Compensation Circular
No. 10, Executive Order
No. 65, Section 7 of
Joint CSC-COA-DBM
Circular No. 1 series of
2017, and Section 42 of
RA 10924 or the
General Appropriations
Act (GAA) of CY 2017
and COA Circular
2012-003.
Payment for a. Discontinue the Baliwag WD 278
Representation and payment of Bulacan WD 259
Transportation Allow- RATA/honorarium/per Metro Cotabato WD 2,054
ances (RATA)/ diem/ reimbursement Naval WD 142
honoraria/per diem/ of travel/ Tanay WD 198
travel reimbursement/ communication
communication expenses in excess of
expenses and other the authorized rates;
reimbursable expenses and
were either in excess of
the authorized rates due b. Refund the excessive
to erroneous rate and/or amount of
equivalent ranks used reimbursable expenses/
contrary to existing RATA and pay only in
DBM/COA Circular. accordance with
existing rules and
regulations to avoid
disallowance in audit.
303
Common Audit Amount
Payment of Employees’ a. Discontinue the Baguio WD 2,362
Retirement payment of the said Baliwag WD 2,075
Plan/Provident Fund in benefit pending receipt Metro Kidapawan WD 899
addition to that paid to of authority from the Metropolitan Naga WD 3,721
the GSIS were contrary DBM and ensure that all Quezon Metro WD 8,483
to Section 10 of payments are covered Silang WD 3,710
Republic Act No. 4968, with legal basis or
an Act Amending the proper authorization;
Government Service and
Insurance Act, and not
consistent with Section b. Seek authority from the
5.3.2.2 of Budget DBM for the Agency’s
Circular No. 2008-3, monetary contribution to
Section 4 of Executive the Provident Fund,
Order No. 641, otherwise, cause the
RA No. 6758 and DBM refund to the Agency.
CC No. 10.
The Program on a. Stop the practice of Cagayan de Oro City 911,513
Awards and Incentives granting the WD
for Service Excellence PRAISE/PBB Kumalarang WD NQ
(PRAISE)/ incentives/ benefits that Maasin WD 3,360
Performance-based are not in accordance Sibulan WD 1,528
Bonus (PBB) were paid with prescribed
to BOD/ guidelines, laws, rules
officers/employees and regulations; and
without complying with
the guidelines/existing b. Require the concerned
laws, rules and employees to refund
regulations of the Civil the full amount of PBB
Service Commission received.
(CSC)/Dept. of Budget
and Management
(DBM)/Local Water
Utilities Administration
(LWUA)/ Governance
Commission on
Government-Owned or
Controlled Corporations
(GCG).
Payments for overtime a. Strictly adhere to the Bacuag WD 111
services is not in policies and guidelines Surigao Metropolitan 4,562
accordance with CSC- on Overtime services WD
DBM Joint Circular No. and Overtime pay for
1 series of 2015 Government Employees
resulting in excessive as prescribed in Section
expenditures while 10 of CSC-DBM Joint
depleting scarce Circular No. 1 series of
resources of the 2015;
District.
304
Common Audit Amount
b. Instruct the approving
officer of the
Disbursement Voucher
and the Payroll master
to ensure that payments
are correctly computed
and properly supported
with complete
documents; and
c. Ensure that the total

Overtime Pay of an
employee in a year shall
not exceed 50 percent of
his/her total basic salary
for the year.
Payment of Observe the provisions on Baao WD 275
monetization of leave the monetization of leave Bislig WD 661
credits were made credits under CSC, rules Carcar WD 206
without observing the and regulations and refund Don Carlos WD NQ
provisions under the excess payment of Hinatuan WD 165
Sections 22 and 23 of monetization of leave Naval WD 153
Omnibus Rules on credits Odiongan WD 140
Leave, Rule XVI of the Pilar (Sorsogon) WD 169
Omnibus Rules Pinamalayan WD 439
Implementing Book V Roxas (Palawan) WD 146
of Executive Order No. Tanay WD NQ
292 of the Civil Service
Commission (CSC),
CSC Memorandum
Circular No. 16 s. of
2002, the CSC-DBM
Joint Circular No. 2-27
and Section 5.14 of
COA Circular No.
2012-001, rendering the
propriety of paid claims
doubtful and resulting
to the audit suspension
of the expenditures.
305
Common Audit Amount
Funds of the Agency a. Exercise prudence and Aroroy WD 204
were used to pay for: strictly adhere to the Carcar WD 359
membership fees and provisions of PD 1445 Metropolitan NQ
annual dues to various and COA Circular No. Tuguegarao WD
associations; legal and 2012-003 in the use of
filing fees in connection government funds;
with appeals/s or
motion for b. Stop charging against
reconsideration filed the Agency funds the
before COA; meals and legal and other filing
snacks during meeting fees for appeals/
of BAC/Management motions for
Team/ ExeCom and reconsideration filed
other meetings; lakbay- with COA; and require
aral activities; the persons identified
advertisements; liable to refund said fees
provision of mobile paid out of Agency
phone in excess of one funds.
unit which expenditures
were considered to be
irregular, unnecessary
or excessive contrary
per PD 1445, COA
and paragraph 7 of
COA Resolution No.
2013-016 dated 23
August 2013.
Disbursements for non- Avoid spending/utilization Puerto Princesa City 4,821
public purpose and of public funds for invalid/ WD
those not consistent irregular/unnecessary Roxas (Palawan) WD 522
with laws and rules purposes.
such as payment for
sponsorship of school
activities, donations to
concessionaires,
financial assistance to
various groups/
associations/institutions
will exhaust corporate
funds without any
benefit to the
government, which
practice is contrary to
COA Circular No.
2012-003 and
Administrative Order
No. 103.
306
Common Audit Amount
Partial/delayed/non- Remit to the GSIS/HDMF/ Angadanan WD 366
remittance of PhilHealth/NHMFC the Bacacay WD NQ
contributions/ contributions/premiums/lo Gattaran WD NQ
premiums/ loan an amortizations deducted Jose Panganiban WD NQ
amortizations withheld from the compensation of Maddela WD NQ
from the employees’ employees to avoid Pili WD 382
compensation expose sanctions/ penalties that Sindangan WD NQ
the agencies concerned may be imposed by the Taytay (Palawan) WD 146
to penalties and said agencies for delayed
sanctions under existing remittance thereof.
rules and regulations of
GSIS/HDMF/PhilHealth/
NHMFC.
Remittance of a. Instruct the Accounting Diffun WD 135
Employer’s Processor to deduct Dipolog City WD 156
contributions to Home only the amount of
Development Mutual P100.00 for each
Fund (HDMF) were employee as mandatory
more than monthly contributions
₱100.00/month per to HDMF. If the
member-employee employees wish to
which is not in contribute more than
conformity with Section ₱100.00, a separate
1, Rule VI of the column in the payroll
Implementing Rules should be made for the
and Regulations of additional contribution
Republic Act 9679, thus under MP2; and
resulting in the over-
remittance of HDMF- c. Stop the practice of
contribution- computing the
employees’ share and employer’s share
government share. based only on the 2%
of employees’ basic
pay without
considering the
maximum monthly
compensation of
₱5,000.00 set by the
IRR and ensure that
remittances of
employer’s share ate
strictly in adherence
to the provisions set
under Section 1, Rule
VI of the IRR of RA
9679.
Titles to government a. Expedite the titling of Bago City WD NQ
land assets or properties land under the name of Baliwag WD 2,606
acquired and booked the concerned GC to Bayugan WD 3,326
307
Common Audit Amount
under the safeguard its interest Buenavista (Agusan del 1,095
Land/Investment and dispel doubts as to Norte) WD
Property accounts were the legal ownership over Bulacan WD 4,432
not yet consolidated in the property; and Bustos WD 462
the name of the Cadiz City WD NQ
concerned WD and/or b. Initiate efforts to Calamba WD 36,207
absence of proof of document and Calumpit WD 4,010
ownership rendered substantiate ownership Gen. MacArthur WD 605
doubtful the validity of over GCs assets or Hagonoy WD 640
the asset account. submit a comprehensive Legazpi City WD 1,160
updated report on the Marilao WD 2,961
status of the titling Metro Kidapawan WD 2,963
process. Metro Lipa WD 33,638
Moncada WD 2,300
Orani WD 7,636
Plaridel WD 1,760
Porac WD 1,615
WD
WD
San Miguel WD 580
San Rafael (Bulacan) 544
WD
Silang WD 20,677
Taft WD 360
Talibon WD 859
Tanauan WD 4,708
Tanay WD 3,466
Acquired assets with Prioritize the immediate Sablayan WD 605
acquisition age of five disposal of the acquired San Jose (Occ. Mindoro) 1,114
years or more were not assets in the name of the WD
promptly disposed of GC to prevent further
contrary to existing deterioration of said assets
laws, rules and and incurrence of
regulations. additional expenses and to
protect the interest of the
government.
Inadequacy of the a. Submit/disclose the Aleosan WD 3,519
required required information/ Aroroy WD 3,895
information/records/rep computations/contracts Bacacay WD 797
orts/ and other and/or other supporting Balatan WD NQ
supporting documents in support of Cabangan WD 356
documents/non- the transaction/contract/ Cabusao WD NQ
submission thereof MOA pursuant to Del Gallego WD 100
resulted in the doubtful pertinent provisions of Ilocos Norte WD NQ
validity of various COA Circular Nos. 96- Jose Panganiban WD 460
transactions contrary to 010 and 2012-001, Laguna WD NQ
308
Common Audit Amount
COA Circular Nos. 77- RMC No. 2-2014 and/or Limay WD 358
61, 96-010 and 2012- PD No. 1445; and Linamon WD 2,077
001 and/or Revenue b. Strictly scrutinize all Metro Lipa WD 575
Memorandum Circular transactions for payment Metropolitan Naga WD 201
(RMC) No. 2-2014, and whether these conform Naujan WD 132
Section 4(6) and 111 of with existing laws, rules Pili WD 280
PD 1445, LWUA MC and regulations, and
No. 015-12 and 016-16 whether these
and GAAM Volume I. transactions are properly
documented to establish
validity of claims.
Delayed or non- a. Evaluate the cause of Baguio WD NQ
submission/ non- delayed Balatan WD NQ
preparation of Financial preparation/submission Barobo WD NQ
Statements/documents/ or non-submission and Butuan City WD NQ
reports including immediately submit the Cabusao WD NQ
Journal Entry Vouchers financial Cagayan de Oro City NQ
(JEVs), Registry of reports/JEVs/DVs to the WD
Budget Utilization and COA Auditors; Catarman WD NQ
Disbursement/Budget Del Carmen WD NQ
Utilization Request b. Prepare and submit the Ilocos Norte WD NQ
(BUR) and Status/ final and complete set of Jaro WD 351
Disbursement Vouchers financial statements Josefina WD NQ
(DVs)/books of together with all Kasibu WD NQ
accounts within the relevant supporting Kiblawan WD NQ
prescribed period schedules/ documents in Leyte Metropolitan WD NQ
contrary to Sections 41, accordance with Linamon WD NQ
100 and 122 of PD pertinent provisions of Luna WD NQ
1445; Note 8, Sections PD 1445/ MNGAS and San Isidro (Northern NQ
57, 71 and 81 of the COA Accounting Samar) WD
Manual on the New Circular Nos. 2015-004 Sibagat WD NQ
Government and 2017-004; and Sulat WD NQ
Accounting System Sultan Kudarat WD 11,559
(MNGAS) Volume I, c. Include in the Taft WD NQ
COA Circular Nos. performance indicators Tubod-Baroy WD 684
2009-006 and 95-006, of the personnel Victoria WD NQ
COA Accounting concerned, the
Circular Nos. 2015-004 submission of reports to
and 2017-004. COA within the
prescribed deadlines.
Disbursement vouchers Instruct the Cashier that all Barobo WD 6,939
(DVs) and their paid disbursement Butuan City WD 287,716
supporting documents vouchers and its Catarman WD NQ
(SDs) were not stamped supporting documents be San Isidro (Northern NQ
“PAID” and dated by properly stamped “PAID” Samar) WD
the Cashier, contrary to and dated as to payment, in Victoria WD NQ
COA Circular No. 92- compliance with COA
389 dated November 3, Circular No. 92-389 and
1992 and the Philippine PGIAM.
309
Common Audit Amount
Government Internal
Audit Manual (PGIAM)
thus, exposing the
documents to risk of
reuse to support another
claim.
Accountable Officers Comply strictly with Balatan WD NQ
were not bonded; not Treasury Circular No. 02- Baras WD NQ
adequately bonded; 2009 governing the Barobo WD NQ
with expired and not bonding of accountable Bato (Catanduanes) WD NQ
renewed Fidelity bond; officers. Bombon WD NQ
with bond renewed after Butuan City WD 384,264
the expiration of the Cabusao WD NQ
term of the bond, thus Calamba WD NQ
exposing government Damulog WD NQ
funds to risk of possible Gattaran WD NQ
loss, contrary to Section Gen. Mariano Alvarez NQ
101 of PD 1445 and WD
Sections 4.1, 4.3.3 and Hernani WD NQ
5.1 of Treasury Circular Kasibu WD NQ
No. 02-2009 dated 6 Kauswagan WD NQ
August 2009. Kolambugan WD NQ
Laguna WD NQ
Leyte Metropolitan WD NQ
Madrid WD NQ
Metro Lipa WD NQ
Pinamalayan WD NQ
Quezon Metro WD NQ
San Jose Del Monte NQ
City WD
Silang WD NQ
Surigao Metropolitan NQ
WD
Non-compliance with a. Recognize in the books Cabanatuan City WD 7,843
the COA Order of of accounts the amount Catarman WD 211
Execution of disallowances on Macabebe WD 537
(COEs)/Notice of which COEs was Metro Kidapawan WD 11,319
Disallowance/Notice of already received by Moncada WD 340
Suspension is contrary Water Districts; Sasmuan WD 3,070
to COA Circular 2009-
006 dated September b. Exert efforts in the
15, 2009. enforcement of the
COEs issued to persons
determined liable over
audit disallowances that
have become final and
executory; and
310
Common Audit Amount
c. Submit all summary
lists of settlements of
disallowances
completely supported
with evidence as basis in
preparation of NSSDC
in compliance with
RRSA.
Accountable forms used a. Comply with the Aurora WD NQ
were not printed by existing laws and Concepcion (Iloilo) WD NQ
Recognized regulations in the Davao City WD NQ
Government Printers purchasing of Dingle-Pototan WD NQ
(RGPs) contrary to the accountable forms; Dumangas-Barotac NQ
provisions of Nuevo WD
Government b. Stop procuring Official Lemery (Iloilo) WD NQ
Procurement Policy Receipts from private Pinamalayan WD NQ
Board (GPPB) printers, the printing of
Resolution No. 05- which has no prior
2010; LWUA written waiver from the
Memorandum Circular National Printing
Nos. 009-16, 013-16, Office; and
010-17; Executive
Order (EO) No. 285 , c. As an alternative, use
series of 1987, National Accountable Form No.
Printing Office (NPO) 51 which applies to all
Memorandum Circular types of collections.
No. 1-04 and Section 4
of Memorandum
Circular No. 180 dated
August 13, 2009 issued
by the Office of the
President, which may
be disadvantageous to
the government as it
could hinder the
examination as to
accuracy, propriety and
validity of official
receipts used.
Non-compliance with a. Comply with the Floridablanca WD NQ
the provisions of CSC- provisions of CSC- Gen. MacArthur WD 557
COA-DBM Joint COA-DBM Joint Leyte Metropolitan WD 120
Circular No. 1 s. 2017 Circular No. 1 s. 2017 Lubao WD NQ
dated June 15, 2017 due dated June 15, 2017; Mabalacat City WD NQ
to any or combination Macabebe WD NQ
of the following: b. Ensure strict compliance Masantol WD NQ
to existing laws, rules Metro Cotabato WD 4.082
a. Hired on a contract of and regulations on the Pinamalayan WD NQ
service basis/Job grant of wages to Job Pola WD 185
311
Common Audit Amount
Order personnel Order workers as Sulat WD NQ
were hired to do field specified in the said
works which are joint circular; and
considered necessary
and essential to the c. Analyze and prepare the
conduct of the necessary adjusting
regular functions of entries to reflect the
Water Districts; accurate balances of the
accounts affected.
b. No Service Contract/
Memorandum of
Agreement/Job order
was executed
between Water
District and the
individual employees
hired on a job order
status;
c. Erroneous recording/
misclassification of
the wages of Job
Order personnel in
the books of accounts
resulted in doubtful
validity of the
affected accounts;
and
d. Rates paid to Job

Order personnel were
inadequate in
violation of CSC-
COA-DBM Joint
Circular No. 1 s.
2017 therefore, their
welfare was not
supported.
Gender And Development (GAD) Plans And Programs
Non-compliance/partial a. Comply with the Abulug WD NQ
compliance with the provisions of: R.A. Ajuy WD NQ
requirements of R.A. 9710, its IRR; the PCW, Alimodian WD NQ
9710 or the “Magna NEDA and DBM Joint Angadanan WD NQ
Carta for Women” and Circular No. 2012-01; Angeles City WD NQ
its Implementing Rules and PPGD 1995-2025 in Anilao WD NQ
and Regulations (IRR); connection with the Aroroy WD NQ
as well as with Joint proper implementation Baao WD NQ
Circular No. 2012-01 of of GAD plans and Babatngon WD NQ
the Philippine programs; Bacacay WD NQ
312
Common Audit Amount
Commission on Women b. Formulate/prepare Bacolor WD NQ
(PCW), National Annual GAD Plans and Bacuag WD NQ
Development Authority Accomplishment Baguio WD 72,657
(NEDA) and Reports in compliance Balatan WD NQ
Department of Budget with EO 273 and Joint Baler WD NQ
and Management Circular No. 2012-01 Baliwag WD NQ
(DBM); and the and include GAD Baras WD NQ
Philippine Plan for concerns in the Barcelona WD NQ
Gender-Responsive Corporate Operating Baybay City WD NQ
Development (PPGD) Budget; Bislig WD 4,943
1995-2025 relative to Bocaue WD NQ
the activities on gender c. Implement the GAD Bombon WD NQ
and development activities, programs and Bongabon WD NQ
(GAD). projects that will Buenavista (Agusan del 685
promote awareness of Norte) WD
the rights of every Bulacan WD NQ
employee; Bustos WD NQ
Butuan City WD NQ
d. Design and install an Cabanatuan City WD NQ
effective monitoring Cabangan WD NQ
sys-tem to ensure that Cabusao WD NQ
all identified program/ Cagayan de Oro City NQ
activities/projects due WD
for implementation will Calabanga WD NQ
be fully and timely Calumpit WD NQ
undertaken; and Cantilan WD NQ
City of Koronadal WD NQ
e. Stop the practice of City of Malolos WD NQ
charging expenses to City of San Fernando NQ
GAD Budget which is WD
not GAD related Concepcion (Iloilo) WD NQ
activities and those not Cordon WD NQ
included in the GAD Culion (Palawan) WD NQ
Plan and Budget. Damulog WD NQ
Del Carmen WD 185
Del Gallego WD NQ
Diffun WD NQ
Dingle-Pototan WD NQ
Dipaculao WD NQ
Donsol WD NQ
Dueñas WD NQ
Gattaran WD NQ
Gingoog City WD NQ
Hagonoy WD NQ
Hermosa WD NQ
Hinatuan WD NQ
Ilocos Norte WD NQ
Jaro WD NQ
Jordan WD NQ
313
Common Audit Amount
Kibawe WD NQ
Laguna WD NQ
Legazpi City WD NQ
Leon WD NQ
Lianga WD NQ
Libmanan WD NQ
Limay WD NQ
Luna WD NQ
Lupao WD NQ
Maasin WD NQ
Macabebe WD NQ
Maddela WD NQ
Madrid WD NQ
Malinao WD NQ
Mambajao WD NQ
Marilao WD NQ
Masantol WD NQ
Metro Lipa WD NQ
Metro Siargao WD NQ
Muñoz WD NQ
Norzagaray WD NQ
Odiongan WD NQ
Orion WD NQ
Pandan WD NQ
Paniqui WD NQ
Paracale WD NQ
Pilar (Sorsogon) WD NQ
Pili WD NQ
Pinamalayan WD NQ
Plaridel WD NQ
Pola WD NQ
Polanco WD NQ
Polomolok WD NQ
Porac WD NQ
Prosperidad WD NQ
Puerto Princesa City NQ
WD
Romblon WD NQ
WD
Sablayan WD NQ
San Andres WD NQ
San Ildefonso WD NQ
San Isidro (Northern NQ
314
Common Audit Amount
Samar) WD
San Jose (Occ. Mindoro) NQ
WD
San Jose City (Nueva NQ
Ecija) WD
San Jose Del Monte City NQ
WD
San Miguel WD NQ
San Rafael (Bulacan) NQ
WD
Santa Maria (Bulacan) NQ
WD
Santa Rosa (Nueva Ecija) NQ
WD
Sasmuan WD NQ
Sibagat WD NQ
Silang WD NQ
Sindangan WD NQ
WD
Sta. Rita WD NQ
WD
WD
Tabaco City NQ
Talavera WD NQ
Talugtug WD NQ
Tandag WD NQ
Tarlac City WD NQ
Taytay (Palawan) WD NQ
Viga WD NQ
Virac WD NQ
Disaster Risk Reduction And Management System
Non-development of a. Develop action plans Aroroy WD NQ
policies and plans/non- and adopt necessary Aurora WD NQ
appropriation of funds measures to mitigate the Baao WD NQ
for/non-implementation adverse effects of Bacacay WD NQ
of the Disaster Risk natural disasters; Bacolod (Lanao del NQ
Reduction and Norte) WD
Management System/ b. Appropriate funds Bacuag WD NQ
contrary to RA No. relative to DRRM / Bago City WD NQ
10121, or the Philippine strictly adhere to the Balanga WD NQ
Risk Reduction and provisions of RA No. Barcelona WD NQ
Management Act of 10121; Baybay City WD NQ
2010, Section 38 of the Bislig WD NQ
General Provisions of c. Fast track the approval Bocaue WD NQ
the GAA of CY 2015 of the Water Safety Plan Bombon WD NQ
and Section 35 of the and implement a Bongabon WD NQ
315
Common Audit Amount
General Provisions of comprehensive, efficient Buenavista (Agusan del NQ
the GAA of FY 2017. and responsive disaster Norte) WD
risk reduction and Bustos WD NQ
climate change Butuan City WD NQ
adaptation program Cabangan WD NQ
within the context of the Cagayan de Oro City NQ
District’s mandate; and WD
Calabanga WD NQ
d. Integrate and Calumpit WD NQ
mainstream disaster risk Damulog WD NQ
reduction management Del Carmen WD NQ
and climate change Del Gallego WD NQ
adaptation in policy Donsol WD NQ
formulation, planning Gen. Natividad WD NQ
and budgeting. Hagonoy WD NQ
Hinatuan WD NQ
Ilocos Norte WD NQ
Kapatagan WD NQ
Kasibu WD NQ
Kauswagan WD NQ
Kibawe WD NQ
Kolambugan WD NQ
Kumalarang WD NQ
Legazpi City WD NQ
Libmanan WD NQ
Licab WD NQ
Limay WD NQ
Linamon WD NQ
Luna WD NQ
Lupao WD NQ
Maasin WD NQ
Maddela WD NQ
Madrid WD NQ
Metro Ozamis WD NQ
Metro Siargao WD NQ
Naujan WD NQ
Naval WD NQ
Odiongan WD NQ
Orion WD NQ
Oroquieta WD NQ
Paracale WD NQ
Pilar (Sorsogon) WD NQ
Pili WD NQ
Pinamalayan WD NQ
Pola WD NQ
Romblon WD NQ
316
Common Audit Amount
WD
Ecija) WD
San Miguel WD NQ
WD
WD
Subic WD NQ
Tabaco City WD NQ
Talavera WD NQ
Tandag WD NQ
Tangub City WD NQ
Tarlac City WD NQ
Tubod-Baroy WD NQ
The following are the favorable/positive observations noted by the Audit Teams for CY 2017:
FAVORABLE/POSITIVE OBSERVATIONS
The GC/Water District religiously complied with tax Angeles City WD NQ
laws and regulations of the Bureau of Internal Revenue Baao WD NQ
and remitted taxes withheld in CY 2017. Bacolor WD NQ
Bacuag WD NQ
Bago City WD 1,850
Balanga WD NQ
Baras WD NQ
Barobo WD 328
Bato (Catanduanes) WD NQ
Bislig WD 4,884
Bocaue WD NQ
Bombon WD NQ
Bongabon WD NQ
Bulacan WD NQ
Cabanatuan City WD NQ
Cadiz City WD 2,128
Calabanga WD NQ
Carcar WD 2,129
Castillejos WD NQ
City of San Fernando NQ
WD
Concepcion (Tarlac) NQ
WD
Culion (Palawan) WD 350
Del Gallego WD NQ
Floridablanca WD NQ
Guagua WD NQ
Hagonoy WD NQ
Hermosa WD NQ
317
Common Audit Amount
Hinatuan WD 939
Ilocos Norte WD NQ
La Trinidad WD NQ
Legazpi City WD NQ
Lupao WD NQ
Macabebe WD NQ
Mariveles WD NQ
Masantol WD NQ
Metro Ozamis WD NQ
Metro Siargao WD NQ
Meycauayan WD NQ
Muñoz WD NQ
Norzagaray WD NQ
Odiongan WD NQ
Orani WD NQ
Orion WD NQ
Oroquieta City WD NQ
Pandan WD NQ
Paniqui WD NQ
Plaridel WD NQ
Porac WD NQ
Prosperidad WD NQ
WD
Ramos WD NQ
Romblon WD NQ
Sablayan WD 181
San Andres WD NQ
WD
Ecija) WD
San Miguel WD NQ
WD
Sasmuan WD NQ
Sibulan WD 1,900
WD
Sta. Rita WD NQ
Subic WD NQ
Tabaco City WD NQ
Talavera WD NQ
Talibon WD 1,078
Talisay WD 2,192
Tandag WD 2,656
Tangub City WD NQ
Tarlac City WD NQ
318
Common Audit Amount
Viga WD NQ
Virac WD NQ
For CY 2017, the GC complied with the timely Angeles City WD NQ
remittance of taxes to BIR and mandatory premiums to Baao WD NQ
GSIS in accordance with RA No. 8291. Bacolor WD NQ
Bago City WD 2,393
Baguio WD 18,653
Balanga WD NQ
Baras WD NQ
Bislig WD 3,433
Bocaue WD NQ
Bongabon WD NQ
Buenavista (Agusan del 1,690
Norte) WD
Bustos WD NQ
Cabanatuan City WD NQ
Cadiz City WD 3,878
Carcar WD 5,486
Castillejos WD NQ
City of San Fernando NQ
WD
WD
Culion (Palawan) WD 814
Dinalupihan WD NQ
Floridablanca WD NQ
Guagua WD NQ
Hagonoy WD NQ
Hermosa WD NQ
Hinatuan WD 681
Ilocos Norte WD NQ
La Trinidad WD 3,010
Legazpi City WD NQ
Licab WD NQ
Limay WD NQ
Lupao WD NQ
Macabebe WD NQ
Mariveles WD NQ
Masantol WD NQ
Metro Ozamis WD NQ
Meycauayan WD NQ
Moncada WD NQ
Muñoz WD NQ
Norzagaray WD NQ
Odiongan WD 145
Orani WD NQ
Orion WD NQ
319
Common Audit Amount
Pandan WD NQ
Paniqui WD NQ
Plaridel WD NQ
Porac WD NQ
WD
Ramos WD NQ
Romblon WD NQ
Roxas (Palawan) WD 1,182
Sablayan WD 144
San Andres WD NQ
San Ildefonso WD NQ
WD
Ecija) WD
San Miguel WD NQ
WD
Sasmuan WD NQ
Sibulan WD 3,055
WD
Sta. Rita WD NQ
Subic WD NQ
Tabaco City WD NQ
Talavera WD NQ
Talibon WD 1,673
Talisay WD 3,205
Tangub City WD NQ
Tarlac City WD NQ
Viga WD NQ
Virac WD NQ
Compliance with RA 9679 (HDMF Law) and 7875 Baao WD NQ
(PhilHealth Act) on the deduction and remittance of Bago City WD 424
mandatory contributions. Baguio WD 3,720
Bislig WD 708
Cadiz City WD 518
Del Gallego WD NQ
Hinatuan WD 153
La Trinidad WD 832
Legazpi City WD NQ
Metro Ozamis WD NQ
Odiongan WD NQ
Pandan WD NQ
320
Common Audit Amount
WD
Romblon WD NQ
Sablayan WD NQ
San Andres WD NQ
WD
Sibulan WD 461
Tabaco City WD NQ
Talisay WD 804
Tangub City WD NQ
Viga WD NQ
Virac WD NQ
The Water District was able to allocate at least 5% of Aparri WD NQ
its total budget to integrate GAD activities in its Aurora WD NQ
Program, Projects and Activities (PPAs); implement Balanga WD NQ
various activities; and submit the Annual GAD Plan Benito Soliven WD NQ
and Budget (GPB) for review of the Local Water Cabagan WD NQ
Utilities Administration (LWUA) in compliance with Castillejos WD NQ
the Philippine Commission on Women (PCW), City of Ilagan WD NQ
National Development Authority (NEDA) and Concepcion (Tarlac) NQ
Department of Budget and Management (DBM) Joint WD
Circular No. 2012-01 and PCW Memorandum No. Dinalupihan WD NQ
2016-06. Gerona WD NQ
Guagua WD NQ
Lal-lo WD NQ
Limay WD NQ
Mariveles WD NQ
Metro Ozamis WD 1,016
Metropolitan NQ
Tuguegarao WD
Meycauayan WD NQ
Moncada WD NQ
Muñoz WD NQ
Orani WD NQ
Peñablanca WD NQ
Plaridel WD NQ
Ramos WD NQ
Subic WD NQ
Tangub City WD 122
Compliance with RA 8282 on the SSS premium/loan Sablayan WD NQ
amortization deductions and remittances. (Social San Jose (Occ. Mindoro) NQ
Security Law) WD
321
Common Audit Amount
Compliance with RA 656 (Property Insurance Law) on Calabanga WD NQ
insuring government properties with the GSIS. Metropolitan Naga WD NQ
Compliance with the 20 percent acceptable level of Angeles City WD NQ

Non-Revenue Water (NRW) prescribed by Local Water Baliwag WD NQ
Utilities Administration (LWUA) as required under Bongabon WD NQ
LWUA Resolution No. 444, series of 2009 and LWUA Cabangan WD NQ
Memorandum Circular No. 004-10. Castillejos WD NQ
WD
Dinalupihan WD NQ
Floridablanca WD NQ
Guagua WD NQ
Hagonoy WD NQ
Hermosa WD NQ
Licab WD NQ
Lubao WD NQ
Lupao WD NQ
Mariveles WD NQ
Moncada WD NQ
Norzagaray WD NQ
Orion WD NQ
Plaridel WD NQ
Ramos WD NQ
Sablayan WD NQ
San Miguel WD NQ
San Rafael (Bulacan) NQ
WD
WD
WD
Sasmuan WD NQ
Sta. Rita WD NQ
Sultan Kudarat WD NQ
Tarlac City WD NQ
The Water District was able to create and implement Baao WD NQ
Water Safety Plan in compliance with Department of Balanga WD NQ
Health (DOH) Administrative Order (AO) No. 2014- Calabanga WD NQ
0027 and Local Water Utilities Administration Metropolitan Naga WD NQ
(LWUA) Memorandum Circular (MC) No. 010.14. Plaridel WD NQ
San Miguel WD NQ
WD
Tabaco City WD NQ
322
Suspensions, Disallowances and Charges
In line with COA Circular No. 2009-006, dated September 15, 2009, “Prescribing the Use of
the Rules and Regulations on Settlement of Accounts,” the Auditor shall prepare and issue a
Notice of Suspension/Notice of Disallowance/Notice of Charge for the differences/variances
and other audit exceptions resulting in the audit of the accounts and transactions of the
auditees.
Notice of Suspension Notice of Disallowance Notice of

(NS) (ND) Charge (NC)
- issued for transactions - issued for transactions - issued when: (a) the
of doubtful legality/ pro- which are irregular/ amount
priety/ regularity which unnecessary/excessive assessed/appraised is
may result in pecuniary and extravagant as less than what is due the
loss to the government, defined under existing government; (b) the
and which will be laws/ rules/ regulations. amount billed is less
disallowed in audit, if not than the amount due the
satisfactorily explained government; and (c) the
or validly justified by the amount collected is less
parties concerned. than what is due to the
government. The
differences noted shall
constitute a proper audit
charge.
For the calendar year 2017, a total of Php1,702.453 million, representing transactions of
doubtful legality/propriety/regularity were suspended in audit and the corresponding NS were
issued. A total of Php2,171.472 million was, however, settled during the year.
NDs were issued for transactions totaling to Php4,397.582 million. These represent various
expenditures which were considered irregular/unnecessary/excessive and extravagant/illegal
and/or unconscionable in nature. A total of Php518.234 million was settled.
NCs were issued for uncollected/unassessed revenues totaling Php43.586 million. A total of
Php1.077 million was recovered.
The unsettled balance of NSs, NDs, NCs at year-end in Philippine peso were
Php12,005.016 million, Php42,616.806 million, and Php3,737.427 million, respectively,
while, the suspensions and disallowances in US dollars as at year end are USD3,863,967 and
USD58,500, respectively.
Presented in Table IV–3 is the Status of Issuance and Settlement of Audit Suspensions,
Disallowances and Charges as of year-end.
323
Table IV–3
Status of Issuance and Settlement of
Audit Suspensions, Disallowances and Charges
As of December 31,2017
Beginning Ending
Audit Action Issued Settled
Balance Balance
A. In Thousand Pesos
12,474,035 1,702,453 2,171,472 12,005,016
Suspensions
38,737,458 4,397,582 518,234 42,616,806
Disallowances
3,694,918 43,586 1,077 3,737,427
Charges
Total 54,906,411 6,143,621 2,690,783 58,359,249
B. In US Dollar
3,863,967 - - 3,863,967
Suspensions
58,800 - - 58,800
Disallowances
- - - -
Charges
Total 3,922,767 - - 3,922,767
Summary of implementation of prior years’ audit recommendations

COA regularly monitors responses of GCs to the audit recommendations and suggested
measure/s to address the audit observations discussed in prior years’ AARs. Presented in
Figure 2 is a summary of the status of implementation of prior years’ recommendations on
the 425 AARs and 29 MLs monitored.
Out of the total 12,482 audit recommendations, 4,954 or 39.69 percent were fully
implemented; 3,934 or 31.52 percent were partially implemented and the remaining 3,594 or
28.79 percent were not implemented at all.
324
Chart IV- 2. Status of Implementation of Prior Years'
Audit Recommendations
28.79%
39.69%
Fully Implemented
Partially Implemented
31.52%
Not Implemented
Details and discussions on the action/s undertaken by management on prior years’ audit
recommendations are presented in the AARs of the respective agencies. Table IV-6
shows the status of prior years’ audit recommendations per GC.
325
CORPORATE GOVERNMENT SECTOR
GENDER AND DEVELOPMENT (GAD)
CONSOLIDATED COMMON AUDIT FINDINGS FOR CY 2017
1 2 3 4 5 6 7 8 9 10 11
Absence GAD Plan & GAD GAD Budget GAD GAD GAD GAD Fund Limited GAD GAD Plans
of GAD Budget not in Funds not Focal Project not Code not Unutilized/ Budget Activities not
Plan and accordance used to equivalent to Point suppor- yet in Under- Allocation Exceeded implemented/
Budget with the pay at least 5% System tive of place utilized the Budget Activities not
GOVERNMENT
(GBP) guidelines/ salaries of Total not Gender implemented RECOMMENDATIONS REMARKS
CORPORATIONS
No GAD of Job Appropria- adopted Issues in accordance
Accomplish- Orders tion (GFPS) with GPB
ment Report
(AR)

Submit the GAD Accomplishment Report in
accordance with the provisions of COA Circular No.
2014-01; Allocate at least 5% of the annual COB for
DBP X X X GAD related activities; and Properly identify GAD
issues /objectives and activities based on the sex
disaggregated data/information
326
Communicate the GPB throughout the organization

ensuring that designated employees are committed
DBP-DLC X towards achieving targets.
Allocate at least 5% of the annual COB for GAD

related activities; and Communicate the GPB
AAIIBP X X throughout the organization and all AAIIBP branches
to ensure that designated employees are committed
towards the achieving targets.
Adhere to PCW –NEDA-DBM Joint circular No.

2012-01 specifically on the conduct of
LBP X X projects/activities supportive of gender issues and the
adoption of a GAD Focal Point System
Prepare and submit GAD plan and budget in

LBRDC X compliance with PCW-NEDA-DBM Joint Circular
No. 2012-01
LIBI X - do -
LCDFI X - do -
- do -
LLFC X X
1 2 3 4 5 6 7 8 9 10 11
GOVERNMENT Budget with the pay at least 5% System tive of place utilized the Budget Activities not
RECOMMENDATIONS REMARKS
CORPORATIONS (GBP) guidelines/ salaries of Total not Gender implemented
ment Report
(AR)
MSI X - do -
Prepare and submit GAD plan and budget in
PICCI X compliance with PCW-NEDA-DBM Joint Circular
No. 2012-01.
Cluster 2 - Social Security and Housing
Management agreed to strictly comply with the
requirements set forth under Joint Circular No. 2012-
1 and include GAD concerns in the Systems
AFPRSBS X X Revenue, Expense, Capital Outlay and Cash Flow
Budget (Corporate Operating Budget) of at least five
per cent of total agency appropriation.
327
Coordinate with DOLE for the submission of GAD

Plan and Budget to the Philippine Commission on
Women (PCW) within the deadline for its approval
ECC X and endorsement to DBM, in order to comply with
the guidelines of Joint Circular No. 2012-01 of PCW-
NEDA-DBM.
a. Allocate five (5)per cent of the total annual

budget for the implementation of GAD-related
activities pursuant to the specific provisions of J.C.
No. 2012-01 in order to adequately support programs
and projects on gender mainstreaming; and
GSIS X X
b. Utilize the HGDG tool to harmonize the GPB to

the System's mandate.
Strictly comply with the provisions of the PCW-

NEDA-DBM Joint Circular No. 2012-01 and follow
the timeliness set in the PCW Memorandum Circular
HDMF X X No. 2015-04 for timely submission of reports.
1 2 3 4 5 6 7 8 9 10 11
ment Report
(AR)
a. Exert its best efforts to implement the PAPs as

indicated in the GPB; and
b. Enhance existing and/or adopt new mechanisms,

HGC X
systems and processes to utilize the GAD Plan and
Budget for the benefit of the intended beneficiaries.
a. Review the 2017 GAD Plan and Budget and

Accomplishment Report to determine the cause/s for
low budget utilization and try to improve on this area
in the future GAD activities;
328
b. Concentrate on accomplishing programs/

projects that create impact by including in the GAD
plan, the results of its PAPs and evaluation findings
NHA X X in terms of its benefits to target beneficiaries to fully
attain the objectives of the GAD Program; and
c. Formulate an effective monitoring system

process to ensure that all identified
programs/activities/projects due for implementation
will be timely and fully undertaken.
a. Properly attribute GAD-related

activities/expenses in the GAD planning and budget
phase to maximize the budget allocated for GAD
NHMFC
activities in accordance with PCW-NEDS-DBM Joint
Circular 2012-01; and
X X X X
b. Conform strictly with the provision under
Section 6.1 of the PCW-NEDA-DBM Joint Circular
No. 2012-01 on the costing & allocation of the GAD
budget.
1 2 3 4 5 6 7 8 9 10 11
Plan and accordance used to equivalent to Point suppor- yet in Under- Alloca-tion Exceeded implemented/
GCs (GBP) guidelines/ salaries of Total not Gender implemented RECOMMENDATIONS REMARKS
ment Report
(AR)
a. Conform strictly with the provisions under

No. 2012-01 on the costing and allocation of the
GAD Budget; and
SHFC X X b. Properly attribute GAD-related expenses in the

GAD planning and budget phase to maximize the
budget allocated for GAD activities in accordance
with PCW-NEDS-DBM Joint Circular 2012-01.
329
a. Design and install an effective monitoring

system process to ensure that all identified
programs/projects due for implementation be fully
and timely undertaken; and
SSS X X
b. Require a GAD budget to be equivalent to at
least 5% of the total appropriation.
a. Submit GAD Plan and Budget to PCW for

review;
b. Allocate/attribute at least five per cent of the total

agency budget for GAD programs and activities; and
SUMSI X X
c. Strictly implement Section 37 (A) (1) (c) and (f)

of the IRR of RA 9710, the “Magna Carta of
Women”.
1 2 3 4 5 6 7 8 9 10 11
ment Report
(AR)
a. Strictly conform with the provisions under

No. on the costing and allocation of the GAD budget;
b. Maximize the use of the budget allocated for

TIDCORP X X X GAD activities; and
c. Ensure that the implementation of the planned

GAD programs, projects and activities are properly
monitored, done as per schedule within the budget
year, as approved by PCW.
330

a. Prepare GAD allocation and observe the proper
attribution based on the total budgeted amount at
optimum level to fully attain the goals and objectives
of GAD program; and
APO X
b. Maximize the utilization of the allocated GAD
budget for program/ activities in order to achieve
optimum benefits for the employees.
Comply with the requirements on the submission of

LRTA X X the Annual GAD Plan and Budget and
Accomplishment Report..
a. Mainstream the GAD programs, activities and

projects to the regular activities of the Corporation in
order to attain the GAD budget minimum
requirement of at least 5% of the Corporation's
approved COB; and
LWUA X X X
b. Review the 2017 GAD AR to determine the
cause/s for the non-implementation of some activities
and try to improve on this area in future GAD
activities.
1 2 3 4 5 6 7 8 9 10 11
ment Report
(AR)
a. Strictly abide with the provisions of PCW-NEDA-

DBM Joint Circular No. 2012-01, General
Appropriations Act and relevant PCW Memorandum
Circulars on the preparation and submission of the
MWSS-CO X X X GAD Plan & Budget; and
b. Ensure that the allotted amount for GAD fund is
at least 5% of the total agency budget appropriations
as required under Section 6.1 of the same Joint
Circular and GAA FY 2017.
a. Improve efforts to mainstream the GAD PAPs to
the regular activities of the agency in order to attain
the GAD budget minimum requirement of at least
331
5% of its COB; and

MWSS-RO X X X X X
b. Submit to COA copies of pertinent GPB and
GAD AR whether uploaded to the GMMS on time or
not, as reference in audit in compliance with COA
a. Provide substantial and reasonable GAD budget
as required by RA No. 10964 or the GAA of 2017 to
effectively carry out GAD activities and achieve
GAD's mandate in NEA;
b. Continue attending capacity building programs to

fully achieve gender mainstreaming;
NEA X X
c. Maximize the utilization of budgeted planned
GAD activities to achieve the desired goals and
objectives; and
d. Provide additional activities to promote plans and

policies on women empowerment and gender
equality in the GAD Plan & Budget.
Mainstream the GAD programs, activities and
projects to the regular activities of the Corporation in
NPC X X order to attain the GAD budget minimum
requirement of at least five percent (5%) of the
Corporation's approved COB.
1 2 3 4 5 6 7 8 9 10 11
ment Report
(AR)
a. Strictly comply with PCW-NEDA-DBM Joint

Circular No. 2012-01 to ensure that the budget,
PNOC programs, projects and activities to be conducted by
the agency are aligned with PCW provisions; and
X X b. Facilitate the establishment of PNOC GAD

Database and GAD Monitoring & Evaluation System
for PNOC and observe the timely submission of all
required reports on GAD to PCW, DBM, COA and
other concerned government agencies.
332
a. Institutionalize the GAD database with adequate

and systematic gathering of sex-disaggregated data to
provide the bases for gender analysis, planning,
programming and policy formulation; and
PNOC-EC X
b. Undertake gender analysis to identify and
confirm existing gender issues and ensure that the
programs, projects and activities are responsive to the
said issues.
a. Allocate strictly 5% of the budget on GAD and
submit the GPB and the AR to PCW and follow the
correct attribution prescribed;
b. Maximize the use of allocated funds to address

PNOC-RC X X GAD issues and concerns; and
c. Implement a stricter timeline to closely monitor
implementation of GAD PAPs with an immediate
course of action if implementation could not be
made.
Utilize the budgeted amount for the programmed
GAD activities and ensure that the budgeted and
PNR X X programmed activities are accomplished.
1 2 3 4 5 6 7 8 9 10 11
GOVERNMENT
CORPORATIONS
ment Report
(AR)
PPA utilized 85% of the appropriated budget for CY

2017 for GAD-related activities. Despite low
utilization of the approved budget, PPA substantially
PPA X X complied with the objectives set forth in its GPB for
CY 2017. The funds and activities undertaken were
found sufficient to address GAD issues and concerns.
a. Maximize the utilization of the allotted GAD

funds to ensure that the actual GAD expenditures
incurred were in accordance with the programs,
projects and activities as planned;
333
b. Develop and implement more relevant GAD

issues/mandate, programs, projects and activities
designed to promote gender equality among the PPC
employees;
c. Institute effective measures to monitor and

ensure that GAD-related activities outlined in the Absence of
GPB are fully accomplished; Gad Plan and
Budget
PPC X X X X X d. Prepare annual GPB which may include the applies only
agency's programs, activities and projects to address for PPC Area
gender issues and promote women empowerment and 8 and 9
gender equality;
e. Use part of GAD budget in drafting their

Gender-Responsive Medium Term Plan and their
Annual GAD Plan of PPC;
f. Instruct its GAD Focal Point to facilitate,

coordinate, guide and monitor the development
and implementation of the agency's GAD Plan and
GAD-related P/A/P;
1 2 3 4 5 6 7 8 9 10 11
GOVERNMENT (GBP) guidelines/ salaries of Total not Gender implemented RECOMMENDATIONS REMARKS
CORPORATIONS No GAD of Job Appropria- adopted Issues in accordance
ment Report
(AR)
g. Strengthen its GAD Focal Point System through

capability building by sending them to trainings,
gender capacity development on GAD;
h. Seek external assistance from local GAD experts

to help integrate gender in planning and budgeting;
and
i. Make an active and persistent representation in
PPC-Central Office for the financial component of
the GPB to ensure implementation of the identified
GAD activities.
334
Seek the approval and endorsement of the GAD Plan

and Budget of PSALM as required under Section 8 of
PSALM X X X PCW/DBM/NEDA Joint Circular No. 2012-01.
Continue to implement all its programmed GAD

TransCo X X activities to enable management to utilize all its
budgeted GAD funds.
a. Prepare a timely Annual GPB equivalent to five

per cent of the total agency budget appropriations.
b. Encourage close coordination among all

personnel involved to implement fully all GAD-
CAAP X X X related activities included in the GPB; and
c. Formulate an effective monitoring

system/process to ensure that all identified PAPs due
for implementation will be timely and fully
undertaken so that the benefits to be derived
therefrom will be enjoyed by the beneficiaries.
1 2 3 4 5 6 7 8 9 10 11
ment Report
(AR)
a. Identify gender issues and corresponding GAD

PAPs that directly respond to mandates provided in
relevant provisions of the Magna Carta of Women,
the Convention on the Elimination of All Forms of
Discrimination Against Women (CEDAW) and other
gender- or women-focused laws, policies and plans
CEZA X X of government as enunciated under Section 1 of PCW
Memorandum Circular No. 2015-04; and
b. Implement all GAD programs, activities and

projects included in the CEZA-approved GAD Plan
335
and Budget.
Require the GAD Focal Point System (GFPS) to

allocate at least five per cent of PEZA DBM-
approved COB for CY 2017 to its GPB by
PEZA X mainstreaming gender perspective in its major
programs and projects and attribute PEZA major
programs to the GAD budget.
Accomplish the partially completed program on

livelihood intervention training. Moreover,
PRecA X Management is advised to exert more effort to utilize
the approved GAD budget by providing and
implementing more GAD programs.
Comply with the provisions of PCW, NEDA and

DBM Joint Circular No. 2012-01 and other laws,
PEATC X rules and regulations on the formulation and
execution of the Agency GAD Plans and Programs.
Properly identify in the GAD Plan and Budget and

Accomplishment Report activities related to GAD
TIEZA X that are part of the regular programs, projects and
activities of the Authority.
1 2 3 4 5 6 7 8 9 10 11
ment Report
(AR)
a. The GAD Focal Point formulate adequate GAD

plans and programs that will address gender issues
and concerns; and
MIAA X X
b. Monitor the prompt implementation of the
projects and activities.
Direct the members of the GPFS to:
a. Comply with the existing guidelines in the

preparation of the GAD Plan and Budget, specifically
in attaining the minimum budget requirement; and
336
AFAB X X
b. Ensure that all GAD activities during the year are

implemented to fully address the gender issues
identified in GPB.
Ensure that at least 5% of the agency’s total

appropriation are set aside for GAD.
APECO X
a. Discontinue the grant of medical package and

reimbursement of medical expenses under existing
GAD Family Health and Wellness Program.
PIA X
b. Implement GAD programs and activities that
would properly address gender issues.
1 2 3 4 5 6 7 8 9 10 11
ment Report
(AR)

a. Strictly comply with Executive Order (EO) No.
273, Philippine Commission on Women-National
Economic and Development Authority-Department
NFA X of Budget and Management (PCW-NEDA-DBM)
Joint Circular No. 2012-01; COA Circular No. 2014-
01 and PCW Memorandum Circulars; and
b. Direct the GAD focal person to:
b.1 Prepare the Annual GPB and submit the same

337
together with the GAD AR to PCW for approval/

endorsement within the deadline set; and
b.2 Submit to the Audit Team copy of the approved/

duly endorsed GPB within five working days from
receipt thereof and GAD AR within five working
days from the end of January of the following year.
a. Ensure strict adherence to existing laws, rules and

regulations on the preparation, submission, review,
endorsement and approval of the Agency’s GAD
Plan and Budget (GPB); and
FTI X
b. Include/Allocate in the Annual Budget the needed
funds for the implementation of GAD programs/
activities pursuant to PCW-NEDA-DBM Joint
1 2 3 4 5 6 7 8 9 10 11
ment Report
(AR)
Direct the NIA Central Office GAD Focal Point

System (GFPS) to prepare GPB using the prescribed
templates and submit on timely manner to the PCW
for review and assessment on the gender
responsiveness of the GAD’s programs, activities and
NIA X projects (PAPs) and, its endorsement to the DBM by
familiarizing on the guidelines and requirements
prescribed under PCW-NEDA-DBM Joint Circular
No. 2012-01 and PCW issuances on GAD.
a. Strictly comply with EO No. 273, PCW-NEDA-

338
DBM Joint Circular No. 2012-01, COA Circular No.

2014-01, and PCW Memorandum Circulars;
b.1. Prepare the Annual GPB and submit the same

together with the GAD AR in the prescribed format
to PCW for approval/endorsement within the
deadline set;
PCA X
b.2. Submit to the Audit Team copy of the
approved/ duly endorsed GPB within five days from
receipt thereof and, GAD AR within five working
days from the end of January of the following year;
and
c. Ensure that the GAD focal persons of the

Central Office and Regional Offices/ Centers are
adequately trained to prepare GPB and GAD AR.
1 2 3 4 5 6 7 8 9 10 11
ment Report
(AR)

b.1 Prepare the GPB and submit the same together
with the GAD AR in the prescribed format to PCW
SRA X for approval/ endorsement within the set deadline;
b.2 Submit to the Audit Team copy of the

approved/duly endorsed GPB within five days from
receipt thereof and, GAD AR within five (5) working
339
c. Ensure that the GAD focal persons are

adequately trained to prepare GPB and GAD AR; and
d. Exert all efforts to implement the GAD activities

mainstreamed within the regular programs in the
approved GPB.
b.1 Prepare the GPB and submit the same together
with the GAD AR in the prescribed format to PCW
for approval/ endorsement within the prescribed
PHILSUCOR X deadline set;
b.2 Submit to the Audit Team copy of the
approved/ duly endorsed GPB within five days from
receipt thereof and, GAD AR within five (5) working
and
c. Ensure that the GAD focal persons are
adequately trained to prepare GPB and GAD AR.
1 2 3 4 5 6 7 8 9 10 11
ment Report
(AR)
a. Comply with the provisions of PCW-NEDA-

DBM Joint Circular No. 2012-01, on the preparation
of the Annual GPB and the GAD AR and submission
thereof to the Department of Agriculture (DA), for
review and, finally to PCW for review and
endorsement, so as to ensure that GAD PAPs
PFDA X X indicated therein are focused on gender sensitivity
issues;
b. Strictly comply with COA Circular No. 2014-

001 on the timely submission of the GAD AR to the
Audit Team to facilitate early verification of the
report; and
340
c. Ensure that the budgets allocated for the GAD

PAPs are maximized with due consideration to
economy, efficiency and effectiveness in the
implementation thereof.
a. Henceforth, submit the NTA Annual GPB to
PCW for review, approval and endorsement to the
DBM, to ensure that the GAD related activities
NTA undertaken during the year are responsive to the
identified gender issues and that these gender issues
are fully addressed;
X X X b. Maximize, with consideration to economy, the

fund allocated for GAD and implement the programs
and projects effectively in accordance with the PCW-
endorsed GPB; and
c. Create a GAD Focal Point System in the
Branches that shall take the lead in mainstreaming
GAD in their PAPs.
1 2 3 4 5 6 7 8 9 10 11
ment Report
(AR)
Strictly comply with PCW-NEDA-DBM Joint

Circular No. 2012-01, particularly on the submission
of the GPB and GAD AR in the prescribed format to
PMDC X X PCW for approval/endorsement.
Strictly comply with PCW-NEDA-DBM Joint

Circular No. 2012-01, particularly on the submission
of the GPB and GAD AR in the prescribed format to
NRDC X X PCW for approval/endorsement.
341
a. Require the Chair of the PCIC GAD Focal Point

and the Finance Manager to comply with the
provisions of PCW-NEDA-DBM Joint Circular No.
2012-01 to ensure PCW’s approval of GPB that is
responsive to gender sensitivity issues; and
PCIC X X
b. Ensure that the approved budget is maximized in

undertaking the GAD activities.
Draw a more comprehensive GPB for the Institute to

PRRI be able to comply with the 5% budgetary requirement
X for GAD in the ensuing year.
(Region III)
1 2 3 4 5 6 7 8 9 10 11
GOVERNMENT
CORPORATIONS
ment Report
(AR)
a. Comply with Section 6.1 of PCW-NEDA-DBM

Joint Circular (JC) No. 2012-01 prescribing the
budget for GAD plans, activities and programs
(PAPs); and
b. Implement the activities formulated in the

approved GAD Plan and Budget (GPB) to ensure that
PCSO X X
the defined gender issue are timely and properly
addressed. Moreover, comply with Section 4.4 of the
342
PCW-NEDA-DBM JC No. 2012-01 on the

institutionalization of the GAD Databased/Sex-
disaggregated Data to ensure a more effective GAD
Planning and budgeting as well as implementation of
GAD PAPs.
a. Submit the Annual GPB to PWC for review,

approval of identified PAPs to address priority
gender issues that are included in the GPB before the
deadline set by PCW;
b. Submit GAD Accomplishment Report to PWC

PAGCOR X X X X X X X X X for evaluation of the GAD PAPs in terms of its
success in influencing the gender-responsive
implementation;
c. Strengthen the GAD Focal Point (GFP) System;

1 2 3 4 5 6 7 8 9 10 11
ment Report
(AR)
d. Institutionalized the GAD Database/Sex-

disaggregated data that have been systematically
produced or gathered as inputs or bases for planning,
budgeting, programming and policy formulation; and
e. Assess the gender-responsiveness of its major

programs and projects using the Harmonized Gender
and Development Guidelines (HGDG) tool that
would guide in identifying areas for improvement.
Continue formulating PAPs to address Gender issues

343
within their mandate and allocate GAD budget in

LCP X accordance with the provision of the General
Appropriations Act (GAA).
Maximize the utilization of GAD funds in the

formulation of GPB with PAPs that are supportive of
NKTI X X
the mandate of NKTI.
Formulate programs, activities and projects to

address Gender issues within the mandate of PCMC
and allocate GAD budget in accordance with the
PCMC X
provision of the GAA and timely submit GAD
requirements such as GPB and the GAD AR.
Allocate GAD budget in accordance with the

provisions of JC No. 2012-01 and continue to
PHC X implement PAPs to address gender issues within the
agency’s mandate.
a. Formulate a more GAD-related PAPs that are in
line with the mandate of PRA; and
PRA X X b. Ensure that the approved Annual GPB is

properly and fully implemented.
1 2 3 4 5 6 7 8 9 10 11
ment Report
(AR)
Implement its GPB and conduct more PAPs in

VFP X accordance with PCW-NEDA-DBM JC No. 2012-01.
a. Allocate GAD funds equal to five per cent of the

annual budget by attributing expenses on PAPs
related to GAD; and
BSoP X X b. Adopt GFP System to implement, monitor,

evaluate and enhance BSP's gender mainstreaming
efforts in compliance with the JC No. 2012-01 of
PCW-NEDA-DBM.
344
Strictly adhere to the provisions of Section 2.3 of

DFPC X X X PCW-NEDA-DBM JC No. 2012-01.
Strictly comply with the provisions of PCW-NEDA-

TPB X X X DBM JC No. 2012-01.
Prepare implementable GAD plans that are integrated

in the PAPs in accordance with the mandate of the
agency and allocate at least five per cent of the DBM
approved Corporate Operating Budget (COB) for the
NPF X fund of the GAD Plans and Programs in consonance
with the PCW-NEDA-DBM JC No. 2012-01.
a. Continue identifying regular operations/

activities that will support the gender issues in the
agency and be considered in the preparation of the
GPB and sufficient compliance with the required five
per cent of the COB; and
PITC X
b. Make representation with PCW for assistance in
identifying regular activities of the agency where
GAD activities may be embedded as well as other
GAD-related activities.
1 2 3 4 5 6 7 8 9 10 11
ment Report
(AR)
a. Ensure the formulation and implementation of a

doable annual GAD plan by identifying GAD related
activities embedded in the regular operations/
activities of the corporation which can be considered
sufficient compliance with the required five per cent
PPPI X X X of the COB; and
b. Coordinate with the PCW for assistance in

identifying regular activities of the agency where
GAD activities may be embedded as well as other
GAD-related activities.
345
a. Strictly implement the provisions of Section 30,

General Provisions of FY 2017 GAA, PCW-NEDA-
DBM JC No. 2012-01 on the preparation and
submission of the PhilHealth GPB as well as its
corresponding GAD Accomplishment Report; and
PHIC X X X X X
b. Continually seek the assistance of PCW in the
implementation of PCW-NEDA-DBM JC No. 2012-
01 in order to fully institutionalize GAD through
trainings and seminar.
Adhere strictly with the provisions of Section 3.4 of

the General Guidelines in GAD Planning and
DAP X Budgeting by allocating five per cent of the total
COB to GAD related activities.
a. Provide sufficient time/allowance based on past

experiences in the preparation, submission and
possible resubmission of GPB to be able to obtain a
CCP X X PCW-endorsed GPB of the Center as required under
the JC No. 2012-01; and
1 2 3 4 5 6 7 8 9 10 11
ment Report
(AR)
b. Issue appropriate directives/policies by the

Agency Head to institutionalize the GFPs in
accordance with the prescribed guidelines.
Comply with the PCW-NEDA-DBM JC No. 2012-01

in the implementation of GAD PAPs to achieve their
objectives of promoting gender-responsive
governance and ensure the prioritization of identified
PITAHC X X
gender issues. Moreover, require the GFP to closely
monitor the implementation of the GAD Plans and
implement more GAD Projects.
Strictly comply with the requirements of the law and

346
PCW-NEDA-DBM JC No. 2012-01 in the

PTNI X X implementation of GAD related PAPs that are also
supportive of the mandate of the agency.
Formulate its GPB and incorporate the GAD PAPs in

the agency’s operations. JC No. 2012-01 which
provides for the guidelines for the preparation of
Annual GPBs and Accomplishment Reports to
IBC X implement the Magna Carta of Women and
institutionalize the GFP System in compliance with
Memorandum Circular No. 2011-01 of the PCW
shall be used by the agency in the preparation of
future GPB.
Table IV-4
Corporate Government Sector

GENDER AND DEVELOPMENT (GAD)
Summary of Agencies with Common GAD Audit Observations, by Cluster
CY 2017
CLUSTERS
Audit Observations Total
1 2 3 4 5 6
1. Absence of GAD LBRDC AFPRSBS MWSS-CO PEATC FTI PAGCOR
Plan & Budget LIBI HDMF MWSS-RO PCMC
LCDFI PPC TPB
MSI PSALM PHIC
PICCI CCP
IBC
No. of GCs 5 2 4 1 1 6 19
2. GAD Plan & DBP AFPRBS LRTA NFA PAGCOR
Budget not in LLCF ECC MWSS-CO NIA DFPC
accordance with OSHC MWSS-RO PCA PHIC
the guidelines/ No
PNOC SRA
GAD
PNOC-EC PHILSUCOR
Accomplishment
Report PFDA
NTA
PMDC
NRDC
PCIC
No. of GCs 2 3 5 0 10 3 21
3. GAD funds used to PAGCOR
pay salaries of Job
Orders
No. of GCs 0 0 0 0 0 1 1
4. GAD Budget is less DBP GSIS LWUA CAAP PRRI PCSO
than the required AAIIBP HGC MWSS-CO PEZA LCP
5% of total MSI NHMFC MWSS-RO AFAB PHC
appropriation
SHFC NEA APECO BSoP
SSS NPC TPB
SUMSI PNOC NPF
TIDCORP PNOC-RC PITC
PNR PPPI
PPA PHIC
PSALM DAP
TransCo PTNI
No. of GCs 3 7 11 4 1 11 37
5. GAD Focal Point LBP NTA PAGCOR
not established BSoP
DFPC
CCP
No. of GCs 1 0 0 0 1 4 6
347
Table IV-4
CLUSTERS
Audit Observations Total
1 2 3 4 5 6
6. GAD Projects not DBP NHA PPC CEZA PAGCOR
supportive of LBP NHMFC MIAA
Gender Issues SUMSI PIA
No. of GCs 2 3 1 3 0 1 10
7. GAD Code not yet PAGCOR
in place PHIC
No. of GCs 0 0 0 0 0 2 2
8. GAD Funds under- GSIS APO CAAP PFDA PCSO
utilized/ unutilized NHA LRTA CEZA NTA PAGCOR
NHMFC LWUA PRecA PMDC NKTI
SHFC MWSS-RO TIEZA NRDC PRA
SSS NEA MIAA PCIC VFP
TIDCORP PNOC-RC AFAB DFPC
PNR PPPI
PPA PITAHC
PPC
TransCo
No. of GCs 0 6 10 6 5 8 35
9. Limited Budget PPC PHIC
Allocation PITAHC
No. of GCs 0 0 1 0 0 2 3
10. GAD activities HDMF NPC PAGCOR
exceeded the
budget
No. of GCs 0 1 1 0 0 1 3
11. GAD plans not DBP-DLC NHMFC LWUA CAAP PAGCOR
implemented/
Activities not AAIIBP TIDCORP MWSS-RO NKTI
implemented in PPC PRA
accordance with PSALM TPB
GPB PPPI
PTNI
No. of GCs 2 2 4 1 0 6 15
348
Table IV-5
Tabulation of Audit Opinions Rendered
Name of Government Corporations Type of Opinion

U Q A D
1 Al-Amanah Islamic Investment Bank of the Philippines 
2 Bangko Sentral ng Pilipinas 
3 Central Bank Board of Liquidators 
4 Credit Information Corporation 
5 DBP Data Center, Inc. 
6 DBP Leasing Corporation 
7 DBP Management Corporation 
8 Development Bank of the Philippines 
9 Land Bank of the Philippines 
10 Land Bank Countryside Development Foundation, Inc. 
11 Land Bank Resources and Development Corporation 
12 LBP Insurance Brokerage, Inc. 
13 LBP Leasing and Finance Corporation 
14 Masaganang Sakahan, Inc. 
15 National Livelihood Development Corporation 
16 Northern Foods Corporation 
17 People's Credit and Finance Corporation 
18 Philippine Deposit Insurance Corporation 
19 Philippine International Convention Center, Inc. 
20 Philippine Postal Savings Bank, Inc. 

1 AFP Retirement and Separation Benefits System 
2 Employees’ Compensation Commission 
3 Government Service Insurance System 
4 Home Development Mutual Fund 
5 Home Guaranty Corporation 
6 National Home Mortgage Finance Corporation 
7 National Housing Authority 
8 Occupational Safety and Health Center 
9 Palacio Del Gobernador Condominium Corporation 
10 Small Business Gurantee and Finance Corporation 
11 Social Housing Finance Corporation 
12 Social Security System 
13 Southern Utilities Management Services, Inc. 
14 Trade and Investment Development Corporation of the Philippines 

1 APO Production Unit 
2 Cebu Port Authority 
3 Light Rail Transit Authority 
349
Table IV-5

U Q A D
4 Local Water Utilities Administration 
5 Metropolitan Waterworks and Sewerage System 
6 National Electrification Administration 
7 National Power Corporation 
8 National Transmission Corporation 
9 Panay Railways Incorporated 
10 Philippine National Oil Company 
11 PNOC Alternative Fuels Corporation 
12 PNOC Development & Management Corporation 
13 PNOC Exploration Corporation 
14 PNOC Renewables Corporation 
15 PNOC Shipping and Transport Corporation 
16 Philippine National Railways 
17 Philippine Ports Authority 
18 Philippine Postal Corporation 
19 Power Sector Assets and Liabilities Management Corporation 

1 Alabang - Sto. Tomas Development, Inc. 
2 Aurora Pacific Economic Zone and Freeport Authority 
3 Authority of Freeport Area of Bataan 
4 Bases Conversion and Development Authority 
5 Batangas Land Company, Inc. 
6 BCDA Management and Holdings, Inc. 
7 Cagayan Economic Zone Authority 
8 CDCP Farms Corporation 
9 Civil Aviation Authority of the Philippines 
10 Clark Development Corporation 
11 Clark International Airport Corporation 
12 Corregidor Foundation, Inc. 
13 DISC Contractors Builders and General Services, Inc. 
14 First Cavite Industrial Estate Inc. 
15 GY Real Estate, Inc. 
16 Inter-Island Gas Services, Inc. 
17 John Hay Management Corporation 
18 Kamayan Realty Corporation 
19 Laguna Lake Development Authority 
20 Mactan-Cebu International Airport Authority 
21 Manila Gas Corporation 
22 Manila International Airport Authority 
23 Marawi Resort Hotel Inc. 
24 National Development Company 
25 NDC-Philippine Infrastructure Corporation 
350
Table IV-5

U Q A D
26 North Luzon Railways Corporation 
27 Northeastern Luzon Pacific Coastal Service Inc. 
28 Partido Development Administration 
29 PEA Tollways Corporation 
30 Philippine Aerospace Development Corporation*
31 Philippine Economic Zone Authority 
32 Philippine National Construction Corporation 
33 Philippine Reclamation Authority 
34 PHIVIDEC Industrial Authority 
35 Pinagkaisa Realty Corporation 
36 Poro Point Management Corporation 
37 Southern Philippines Development Authority 
38 Subic Bay Metropolitan Authority 
39 Subic-Clark Alliance Development Corporation 
40 Tourism Infrastructure and Enterprise Zone Authority 
41 Zamboanga City Special Economic Zone Authority 

1 Bukidnon Forest, Inc.*
2 Food Terminal, Inc. 
3 Human Settlements Development Corporation 
4 National Dairy Authority 
5 National Food Authority 
6 National Irrigation Administration 
7 National Tobacco Administration 
8 Natural Resources Development Corporation 
9 Philippine Coconut Authority 
10 Philippine Crop Insurance Corporation 
11 Philippine Fisheries Development Authority 
12 Philippine Mining Development Corporation 
13 Philippine Rice Research Institute 
14 Philippine Sugar Corporation 
15 Quedan and Rural Credit Guarantee Corporation**
16 Sugar Regulatory Administration 

1 Boy Scouts of the Philippines 
2 Center for International Trade Expositions and Missions 
3 Cultural Center of the Philippines 
4 Development Academy of the Philippines 
5 Duty Free Philippines Corporation 
6 Intercontinental Broadcasting Corp. 
7 Lung Center of the Philippines 
8 National Kidney and Transplant Institute 
351
Table IV-5

U Q A D
9 Nayong Pilipino Foundation, Inc.*
10 Overseas Workers Welfare Administration 
11 People's Television Network, Inc. 
12 Philippine Amusement and Gaming Corporation 
13 Philippine Center for Economic Development 
14 Philippine Charity Sweepstakes Office 
15 Philippine Children's Medical Center 
16 Philippine Heart Center 
17 Philippine Health Insurance Corporation 
18 Philippine Institute for Development Studies 
19 Philippine Institute of Traditional and Alternative Health Care 
20 Philippine International Trading Corporation 
21 Philippine Pharma Procurement Inc. (formerly PITC Pharma, Inc.) 
22 Philippine Retirement Authority 
23 Tourism Promotions Board 
24 Veterans Federation of the Philippines**
Legend:
U - Unqualified
Q - Qualified
A - Adverse
D - Disclaimer
* - With Management Letter (ML); No Audit Opinion; No FS Received
** - With ML; No Audit Opinion; With FS Received
Recapitulations:
U- 61
Q- 52
A- 12 119
D- 4
352
Table IV-6
Status of Implementation of Prior Years' Audit Recommendations
December 31, 2017
Total Number of Fully Partially Not

Name of Government Corporations
Recommendations Implemented Implemented Implemented
1 Al-Amanah Islamic Investment Bank of the Philippines 3 3 0 0
2 Bangko Sentral ng Pilipinas 77 58 16 3
3 Central Bank Board of Liquidators 2 2 0 0
4 Credit Information Corporation 4 3 1 0
5 DBP Data Center, Inc. 4 0 0 4
6 DBP Leasing Corporation 3 1 2 0
7 DBP Management Corporation 1 0 0 1
353
8 Development Bank of The Philippines 41 27 11 3

9 Land Bank of the Philippines 67 42 21 4
10 Land Bank Countryside Development Foundation, Inc. 0 0 0 0
11 Land Bank Resources and Development Corporation 9 3 4 2
12 LBP Insurance Brokerage, Inc. 11 4 1 6
13 LBP Leasing and Finance Corporation 23 13 7 3
14 Masaganang Sakahan, Inc. 14 10 4 0
15 National Livelihood Development Corporation 0 0 0 0
16 Northern Foods Corporation 49 22 20 7
17 People's Credit and Finance Corporation 0 0 0 0
18 Philippine Deposit Insurance Corporation 18 7 8 3
18 Philippine International Convention Center, Inc. 13 5 3 5
19 Philippine Postal Savings Bank, Inc. 73 35 30 8
412 235 128 49
Table IV-6

1 AFP Retirement and Separation Benefits System 69 42 25 2
2 Employees' Compensation Commission 6 3 2 1
3 Government Service Insurance System 120 39 58 23
4 Home Development Mutual Fund 180 76 93 11
5 Home Guaranty Corporation 80 51 29 0
6 National Housing Authority 39 17 16 6
7 National Home Mortgage Finance Corporation 60 32 24 4
8 Occupational Safety Health Center 20 12 6 2
9 Palacio del Gobernador Condominium Corporation 11 3 5 3
354
10 Small Business Guarantee and Finance Corporation 42 39 3 0

11 Social Housing Finance Corporation 69 33 36 0
12 Social Security System 88 32 49 7
13 Southern Utility Management and Services, Inc. 23 17 1 5
14 Trade & Investment Development Corporation of the
Philippines 68 18 29 21
875 414 376 85

1 APO Production Unit, Inc. 58 36 3 19
2 Cebu Port Authority 22 1 12 9
3 Light Rail Transit Authority 50 24 15 11
4 Local Water Utilities Administration 59 26 29 4
5 Metropolitan Waterworks and Sewerage System 115 16 24 75
Table IV-6
6 National Electrification Administration 102 39 41 22
7 National Power Corporation 78 54 12 12
8 National Transmission Corporation 41 14 22 5
9 Philippine National Oil Company 22 6 14 2
10 Philippine National Railways 79 8 12 59
11 Philippine Ports Authority 80 40 26 14
12 Panay Railways Incorporated 45 7 4 34
13 Philippine Postal Corporation 111 47 48 16
14 PNOC Alternative Fuels Corporation 18 0 11 7
15 PNOC Development & Management Corporation 19 0 16 3
355
16 PNOC Exploration Corporation 26 9 14 3

17 PNOC Renewables Corporation 4 1 3 0
18 PNOC Shipping and Transport Corporation 17 4 11 2
19 Power Sector Assets and Liabilities Management Corp. 56 31 9 16
1,002 363 326 313

1 Alabang - Sto. Tomas Development, Inc. 0 0 0 0
2 Aurora Pacific Economic Zone and Freeport Authority 28 10 11 7
3 Authority of the Freeport Area of Bataan 17 14 3 0
4 Bases Conversion and Development Authority 20 8 7 5
5 Batangas Land Company, Inc. 0 0 0 0
6 BCDA Management and Holdings, Inc. 6 3 2 1
7 Cagayan Economic Zone Authority 9 5 2 2
Table IV-6
8 CDCP Farms Corporation 1 0 0 1

9 Civil Aviation Authority of the Philippines 64 21 16 27
10 Clark Development Corporation 51 30 21 0
11 Clark International Airport Corporation 32 27 5 0
12 Corregidor Foundation, Inc. 4 2 0 2
13 DISC Contractors Builders and General Services, Inc. 0 0 0 0
14 First Cavite Industrial Estate Inc. 0 0 0 0
15 GY Real Estate, Inc. 0 0 0 0
16 John Hay Management Corporation 30 13 17 0
17 Inter-Island Gas Services, Inc. 0 0 0 0
18 Kamayan Realty Corporation 0 0 0 0
356
19 Laguna Lake Development Authority 26 12 12 2

20 Manila Gas Corporation 1 1 0 0
21 Mactan-Cebu International Airport Authority 26 5 17 4
22 Manila International Airport Authority 11 9 2 0
23 Marawi Resort Hotel, Inc. 5 1 1 3
24 National Development Company 10 6 1 3
25 NDC-Philippine Infrastructure Corporation 0 0 0 0
26 North Luzon Railways Corporation 12 2 4 6
27 Northeastern Luzon Pacific Coastal Service Inc. 0 0 0 0
28 Partido Development Administration 66 25 36 5
29 PEA Tollways Corporation 10 8 1 1
30 Philippine Economic Zone Authority 46 21 8 17
31 Philippine National Construction Corporation 33 17 8 8
32 Philippine Reclamation Authority 16 7 8 1
Table IV-6
33 PHIVIDEC Industrial Authority 39 2 18 19
34 Pinagkaisa Realty Corporation 0 0 0 0
35 Poro Point Management Corporation 3 3 0 0
36 Subic Bay Metropolitan Authority 86 51 34 1
37 Subic Clark Alliance for Development 3 3 0 0
38 Southern Philippines Development Athority 104 22 19 63
39 Tourism Infrastructure and Enterprise Zone Authority 83 29 26 28
40 Zamboanga City Special Economic Zone Authority 13 4 9 0
855 361 288 206

357
1 Bukidnon Forest, Inc. 6 0 4 2

2 Food Terminal, Inc. 38 6 25 7
3 Human Settlements Development Corporation 44 3 10 31
4 National Agribusiness Corporation 113 0 21 92
5 National Dairy Authority 61 20 30 11
6 National Food Authority 239 51 162 26
7 National Irrigation Administration 102 4 63 35
8 National Tobacco Administration 54 23 24 7
9 Natural Resources Development Corporation 136 2 48 86
10 NIAConsult, Inc. 57 1 13 43
11 Philippine Agricultural Development and Commercial
Corporation 37 0 13 24
12 Philippine Coconut Authority 142 54 54 34
13 Philippine Crop Insurance Corporation 54 26 18 10
Table IV-6
14 Philippine Fisheries Development Authority 40 7 28 5
15 Philippine Forest Corporation 64 6 16 42
16 Philippine Mining Development Corporation 17 7 9 1
17 Philippine Rice Research Institute 52 21 23 8
18 Philippine Sugar Corporation 12 3 6 3
19 Quedan and Rural Credit Guarantee Corporation 101 8 56 37
20 Sugar Regulatory Administration 42 14 22 6
21 ZNAC Rubber Estate Corporation 43 0 4 39
1,454 256 649 549

358
1 Boy Scouts of the Philippines 153 42 58 53

2 Center for International Trade Expositions and Missions 9 4 5 0
3 Cultural Center of the Philippines 19 12 7 0
4 Development Academy of the Philippines 16 10 3 3
5 Duty Free Philippines Corporation 16 5 6 5
6 Intercontinental Broadcasting Corporation 11 1 1 9
7 Lung Center of the Philippines 18 8 10 0
8 National Kidney and Transplant Institute 23 14 9 0
9 Nayong Pilipino Foundation 20 9 3 8
10 Overseas Workers Welfare Administration 3 2 0 1
11 People's Television Network Incorporated 25 4 18 3
12 Philippine Amusement and Gaming Corporation 73 33 19 21
13 Philippine Center for Economic Development 8 5 0 3
14 Philippine Charity Sweepstakes Office 73 29 28 16
Table IV-6
15 Philippine Children's Medical Center 17 4 5 8
16 Philippine Health Insurance Corporation 26 11 11 4
17 Philippine Heart Center 11 5 6 0
18 Philippine Institute for Development Studies 2 1 1 0
19 Philippine Institute of Traditional and Alternative Health Care 26 12 10 4
20 Philippine International Trading Corporation 16 11 5 0
21 Philippine Pharma Procurement, Inc. 14 5 9 0
22 Philippine Retirement Authority 19 3 9 7
23 Tourism Promotions Board 31 11 12 8
24 Veterans Federation of the Philippines 20 2 7 11
359
649 243 242 164

Grand Total 5,247 1,872 2,009 1,366
PART V
COMBINED
BY CLUSTER
Government Corporations By Cluster
(in thousand pesos)
Cluster 1 - Banking and Cluster 2 - Social Security

Total
Credit Services and Housing
2017 2016 2017 2016 2017 2016

(Restated) (Restated) (Restated)
ASSETS
Current Assets
Cash and Cash Equivalents 867,494,643 811,009,251 570,535,114 549,266,257 77,989,089 52,572,741
Cash on Hand 41,221,457 36,126,585 36,748,630 32,047,740 1,423,306 1,318,991
Cash in Bank-Local Currency 517,659,596 534,886,952 401,471,620 444,837,274 23,502,590 14,910,346
Cash in Bank-Foreign Currency 12,832,287 17,193,285 4,921,014 11,333,102 4,348,951 2,595,041
Treasury/Agency Cash Accounts 25,291 22,317 - - - -
Cash Equivalents 295,756,012 222,780,114 127,393,850 61,048,142 48,714,242 33,748,363
International Reserves 4,056,596,053 3,997,979,588 4,056,596,053 3,997,979,588 - -

International Reserves 4,056,596,053 3,997,979,588 4,056,596,053 3,997,979,588 - -
Financial Assets 1,004,147,464 933,221,538 272,165,466 296,635,295 715,259,013 624,324,482

Financial Assets at Fair Value Through
Surplus/Profit or Deficit/Loss 725,534,781 636,072,747 17,202,239 20,769,696 708,322,745 615,295,048
Financial Assets-Held to Maturity 195,912,630 194,890,388 172,831,786 174,119,944 6,936,268 9,029,435
Financial Assets-Available For
Sale Securities 70,114,740 89,096,319 69,546,127 88,583,571 - -
Financial Assets-Domestic Investments 330,429 78,892 330,429 78,892 - -
Investment Securities at Amortized Cost 12,254,884 13,083,191 12,254,884 13,083,191 - -
Other Investments 71,762,248 69,634,192 5,401,974 4,717,526 14,796,381 34,245,840

Sinking Fund 12,602,592 5,256,008 5,347,789 4,707,382 - -
Investments in Time Deposits 58,386,604 63,949,756 - - 14,796,381 34,245,840
Other Investments 773,052 428,428 54,185 10,144 - -
Receivables 1,590,318,894 1,484,637,959 743,743,887 598,149,892 245,064,962 228,428,968

Loans and Receivable Accounts 1,107,636,014 946,439,662 688,935,082 569,259,923 238,687,093 223,651,812
Lease Receivables 37,506,548 35,728,297 493,197 601,139 257,418 252,447
Inter-Agency Receivables 73,661,283 77,956,330 13,626,987 10,296,060 3,403,979 2,515,562
Intra-Agency Receivables 304,213,436 377,516,960 105,871 664,178 355,340 325,429
Other Receivables 67,301,612 46,996,709 40,582,750 17,328,593 2,361,132 1,683,719
Inventories 67,011,524 58,268,712 8,743,545 7,896,418 43,973,338 22,868,151

Inventory Held for Sale 37,796,928 37,011,901 183,224 162,073 33,267,550 22,474,196
Inventory Held for Distribution 853,752 219,367 - - 554,797 -
Inventory Held for Manufacturing 11,709,021 3,815,750 556,162 702,274 9,831,923 -
Inventory Held for Consumption 10,345,489 12,271,054 1,789,545 2,135,188 310,589 390,388
Semi-Expendable Machinery and
Equipment 87,070 43,886 14,880 3,851 6,739 3,564
Semi-Expendable Furniture, Fixtures
and Books 17,211 10,881 - - 1,739 3
Domestic Gold and Silver Inventory 1,330,466 455,262 1,330,466 455,262 - -
Plant Inventory 4,871,587 4,440,611 4,869,269 4,437,771 - -
Non-Current Assets Held for Sale 17,450,758 14,071,572 695,997 630,901 16,752,931 13,439,828
Non-Current Assets Held for Sale 17,450,758 14,071,572 695,997 630,901 16,752,931 13,439,828
Other Current Assets 81,113,526 76,221,583 11,437,235 7,839,964 3,768,143 4,035,737

Advances 666,679 679,294 111,298 120,753 68,942 59,415
Prepayments 59,512,994 55,921,640 3,439,971 3,032,037 3,670,813 3,879,967
Deposits 10,303,102 11,866,904 54,779 51,006 26,232 25,355
Restricted Fund 1,860,738 1,917,460 283,777 273,756 - -
Other Assets 8,770,014 5,836,285 7,547,410 4,362,411 2,157 71,000
Total Current Assets 7,755,895,109 7,445,044,394 5,669,319,271 5,463,115,841 1,117,603,856 979,915,749
360
(in thousand pesos)

Total
2017 2016 2017 2016 2017 2016

Non-Current Assets
Non-International Reserves Foreign Assets 91,737,574 87,859,512 91,737,574 87,859,512 - -

Foreign Exchange Receivables 91,711,379 87,833,593 91,711,379 87,833,593 - -
Due from Foreign Banks-Special
Accounts 26,195 25,919 26,195 25,919 - -
Financial Assets 1,363,031,348 1,186,055,956 843,071,941 686,608,649 389,888,256 382,143,516

Surplus/Profit or Deficit/Loss 1,298,812 1,024,447 - - - -
Sale Securities 394,893,347 435,720,533 233,844,432 272,536,402 161,044,661 162,237,181
Other Comprehensive Income 832,728 861,630 11,405 37,804 821,323 823,826
Investments in Joint Venture 8,391,411 8,968,615 49,675 49,675 5,633,991 6,535,031

Investments in Joint Venture 8,391,411 8,968,615 49,675 49,675 5,633,991 6,535,031
Investments in Associates/Affiliates 18,862,289 18,989,113 72,514 119,129 - -

Investments in Associates/Affiliates 18,862,289 18,989,113 72,514 119,129 - -
Investments in Subsidiaries 241,813,351 238,984,480 2,103,673 2,106,766 15,754,604 14,759,346


Sinking Fund 41,615,698 53,765,770 39,879,423 38,881,408 850,055 769,480
Investments in Time Deposits 10,840,047 4,587,196 - - 392,695 223,943
Other Investments 78,405,525 75,563,177 99,865 104,381 1,839,905 1,839,905
Receivables 1,528,959,832 1,492,854,585 398,584,274 366,618,286 671,647,702 630,633,830

Loans and Receivable Accounts 1,062,335,835 986,596,755 285,644,259 254,695,059 667,979,879 626,203,087
Lease Receivables 247,349,706 281,780,166 2,625,454 2,273,379 192,460 221,911
Intra-Agency Receivables 30,629,080 29,961,286 30,629,080 29,961,286 - -
Other Receivables 2,568,095 3,322,263 24,024 33,098 1,983,588 2,773,475
Investment Property 319,846,711 263,226,133 23,557,043 24,549,000 131,561,705 117,363,347

Land and Buildings 319,776,680 263,166,078 23,557,043 24,549,000 131,552,019 117,353,661
Construction in Progress 70,031 60,055 - - 9,686 9,686
Property, Plant and Equipment 1,054,587,426 1,034,107,498 33,982,183 28,403,832 19,723,835 30,585,836
Land 263,847,727 259,931,013 8,086,620 8,066,209 12,587,370 13,835,011
Land Improvements 42,030,596 43,048,552 133,577 82,209 61,655 61,979
Infrastructure Assets 202,377,932 213,172,466 632 21 7,091 8,687
Buildings and Other Structures 70,158,465 77,933,590 9,194,322 9,079,189 3,360,580 4,071,015
Machinery and Equipment 30,380,125 29,536,611 3,435,908 3,708,406 2,141,877 2,328,453
Transportation Equipment 8,136,881 9,237,875 690,025 286,243 335,231 267,903
Furniture, Fixtures and Books 6,762,104 6,376,502 4,497,070 3,913,718 237,320 253,435
Leased Assets 561,216 587,150 451,359 494,620 73,321 53,644
Leased Assets Improvements 1,311,810 1,145,990 857,314 645,186 19,399 25,076
Heritage Assets 717,637 717,579 - - 659,343 659,343
Service Concession Assets 242,451,808 213,736,960 - - - -
Exploration and Evaluation Assets 7,545,073 8,500,890 - - - -
Bearer Trees, Plants and Crops 79 80 - - - -
Other Property, Plant and Equipment 8,077,310 3,628,213 4,305,640 80,700 10,961 10,225
Construction in Progress 170,228,665 166,554,028 2,329,716 2,047,332 229,687 9,011,065
361
(in thousand pesos)

Total
2017 2016 2017 2016 2017 2016

Biological Assets 107,328 102,568 43 49 - -

Bearer Biological Assets 101,440 96,585 43 49 - -
Consumable Biological Assets 5,888 5,983 - - - -
Intangible Assets 3,791,611 3,663,060 2,110,773 1,811,568 686,635 768,159

Development in Progress 69,630 23,170 2,133 2,133 - -
Deferred Tax Assets 17,529,634 18,501,528 11,427,999 12,320,146 523,607 467,017

Deferred Tax Assets 17,529,634 18,501,528 11,427,999 12,320,146 523,607 467,017
Other Non-Current Assets 104,620,395 89,572,868 1,836,093 1,812,055 15,956,657 14,281,688

Prepayments 7,306,599 7,330,904 116,852 96,594 24,333 24,330
Deposits 2,946,248 2,032,065 26,867 25,706 339,969 321,090
Restricted Fund 40,499,804 31,478,411 - - 7,153,849 5,912,728
Other Assets 53,867,744 48,731,487 1,692,373 1,689,755 8,438,506 8,023,540
Total Non-Current Assets 4,884,140,179 4,576,802,060 1,448,513,072 1,251,244,456 1,254,459,646 1,200,371,097
Total Assets 12,640,035,288 12,021,846,454 7,117,832,343 6,714,360,297 2,372,063,503 2,180,286,846
LIABILITIES
Current Liabilities
Financial Liabilities 682,890,113 686,358,185 386,897,986 401,843,772 62,473,392 63,438,804

Payables 268,573,448 248,064,381 28,655,151 30,816,924 58,020,473 55,993,470
Bills/Bonds/Loans Payable 85,355,307 110,076,352 33,749,611 50,111,284 946,805 1,075,392
Tax Refunds Payable 42,059 39,686 - - 1,217 1,899
Financial Liabilities Designated at Fair
Value through Surplus/Profit or Deficit/Loss 3,523,790 6,379,327 18,893 18,505 3,504,897 6,360,823
Financial Liabilities Held for Trading 102,945 198,376 102,945 198,376 - -
Repurchase Agreements 305,057,187 305,057,187 305,057,187 305,057,187 - -
Unsecured Subordinated Debt 9,995,686 9,990,837 9,995,686 9,990,837 - -
Other Financial Liabilities 10,239,691 6,552,038 9,318,514 5,650,659 - 7,220
Deposit Liabilities 2,332,474,522 2,480,515,365 2,332,474,522 2,480,515,365 - -

Inter-Agency Payables 422,058,833 421,225,306 62,162,411 58,702,266 5,697,044 4,728,101

Due to BSP/Other Banks/Others 60,481,847 56,701,304 60,197,376 56,426,841 - -
Intra-Agency Payables 308,035,828 385,004,558 - - 617,347 600,209

Intra-Agency Payables 308,035,828 385,004,558 - - 617,347 600,209
Trust Liabilities 71,439,792 53,516,837 15,112,799 15,090,278 15,572,088 11,853,223

Deferred Credits/Unearned Income 33,441,587 19,329,191 1,511,166 1,587,785 2,455,666 2,737,669

Deferred Credits 21,585,039 13,040,016 1 1 300,418 672,342
Unearned Revenue/Income 11,856,548 6,289,175 1,511,165 1,587,784 2,155,248 2,065,327
Provisions 10,774,444 2,119,145 20,342 20,158 656,108 605,086

Provisions 10,774,444 2,119,145 20,342 20,158 656,108 605,086
Other Payables 74,368,297 66,800,399 28,628,298 21,829,255 13,369,085 12,737,902

Other Payables 74,368,297 66,800,399 28,628,298 21,829,255 13,369,085 12,737,902
Total Current Liabilities 3,935,483,416 4,114,868,987 2,826,807,523 2,979,588,880 100,840,731 96,700,994
362
(in thousand pesos)

Total
2017 2016 2017 2016 2017 2016


Payables 263,497,813 285,999,898 64,413,104 48,968,775 127,537 192,542
Bills/Bonds/Loans Payable 605,896,819 622,671,761 131,682,587 124,748,355 27,428,915 27,694,273
Other Financial Liabilities 2,164 2,164 - - - -
Currency Issued 1,267,482,317 1,124,192,577 1,267,482,317 1,124,192,577 - -

Currency Issued 1,267,482,317 1,124,192,577 1,267,482,317 1,124,192,577 - -


Intra-Agency Payables 31,226 25,769 - - - -

Trust Liabilities 47,824,453 43,735,086 216,880 192,298 20,793,162 19,978,113

Deferred Credits/Unearned Income 300,489,743 240,836,659 99,305 96,368 26,664,410 31,068,289

Deferred Credits 258,582,867 218,342,083 75 75 19,415,327 20,893,590
Unearned Revenue/Income 41,906,876 22,494,576 99,230 96,293 7,249,083 10,174,699
Provisions 34,058,880 29,872,322 3,279,372 2,758,118 2,331,333 2,166,965

Provisions 34,058,880 29,872,322 3,279,372 2,758,118 2,331,333 2,166,965
Deferred Tax Liabilities 12,627,791 10,793,717 7,767 9,145 733,224 651

Deferred Tax Liabilities 12,627,791 10,793,717 7,767 9,145 733,224 651
Other Payables 409,643,961 330,053,131 385,200,089 303,157,489 13,263,422 14,036,435

Other Payables 409,643,961 330,053,131 385,200,089 303,157,489 13,263,422 14,036,435
Total Non-Current Liabilities 5,431,249,049 4,935,504,804 4,309,010,998 3,817,165,520 102,272,584 107,154,691
Total Liabilities 9,366,732,464 9,050,373,792 7,135,818,520 6,796,754,400 203,113,314 203,855,685
NET ASSETS/EQUITY
Government Equity 137,131,586 114,548,754(409,990,694) (410,300,661) 125,281,361 105,881,248

Revaluation Surplus 152,572,301 153,301,003 61,200 61,200 12,741,161 13,463,393
Retained Earnings/(Deficit) 2,246,511,886 2,045,527,741 300,833,913 243,409,615 1,659,338,149 1,533,213,436
Stockholders' Equity 350,016,941 321,700,890 92,969,472 89,785,472 23,054,312 22,554,312
Cumulative Translation Adjustment (123,521) (44,075) - - (122,302) (57,416)
Cumulative Changes in Fair Value 24,983,625 18,065,589 (1,860,069) (5,349,729) (13,552,500) (16,996,571)
Members’ Equity 362,210,007 318,372,760 - - 362,210,007 318,372,760
Total Net Assets/Equity 3,273,302,824 2,971,472,662 (17,986,178) (82,394,103) 2,168,950,188 1,976,431,161
Total Liabilities and Net Assets/Equity 12,640,035,288 12,021,846,454 7,117,832,343 6,714,360,297 2,372,063,503 2,180,286,846
363
(in thousand pesos)
Cluster 4 - Industrial and Cluster 5 - Agricultural and

Area Development Natural Resources
2017 2016 2017 2016 2017 2016

ASSETS
Current Assets
Cash on Hand 989,035 900,853 311,226 352,107 151,423 117,206
Cash in Bank-Local Currency 34,200,492 36,777,265 8,678,921 9,574,862 15,113,670 13,255,164
Cash in Bank-Foreign Currency 600,356 404,140 1,515,726 2,073,245 518,146 246,777
Treasury/Agency Cash Accounts 0 106 - - 25,291 22,211
International Reserves - - - - - -
Financial Assets 4,218,082 576,966 11,178,647 9,828,136 566,424 519,643

Surplus/Profit or Deficit/Loss 9,797 8,003 - - - -
Financial Assets-Held to Maturity 4,184,285 548,462 11,178,647 9,828,136 33,019 38,637
Sale Securities 24,000 20,500 - - 533,404 481,005
Financial Assets-Domestic Investments - - - - - -
Investment Securities at Amortized Cost - - - - - -
Other Investments 7,359,904 7,216,405 32,617,517 17,772,208 7,012,042 386,989

Sinking Fund 242,843 161,719 - - 7,011,960 386,907
Investments in Time Deposits 7,101,329 7,039,536 31,914,464 17,369,155 - -
Other Investments 15,732 15,150 703,053 403,053 82 82
Receivables 217,384,258 214,799,686 17,161,258 24,350,931 344,708,282 399,448,669

Loans and Receivable Accounts 137,254,168 105,160,369 6,927,331 12,889,484 23,160,895 24,730,024
Lease Receivables 35,846,948 33,919,757 812,027 860,435 - -
Intra-Agency Receivables 2,357,858 19,013,122 36,587 45,440 301,337,134 357,448,749
Other Receivables 20,022,273 23,768,312 2,095,359 1,916,112 1,278,955 1,427,714
Inventories 6,929,267 8,238,001 1,857,517 1,855,574 4,108,937 15,795,268

Inventory Held for Sale 311,925 331,573 631,956 645,607 3,228,406 13,177,058
Inventory Held for Distribution 131,790 109,073 363 282 21,342 14,570
Inventory Held for Manufacturing 102,348 155,972 885,624 885,624 325,175 2,052,748
Inventory Held for Consumption 6,345,164 7,615,853 332,034 324,044 499,255 526,250
Equipment 27,853 15,474 6,201 17 28,589 20,981
and Books 7,868 7,216 1,339 - 6,169 3,662
Domestic Gold and Silver Inventory - - - - - -
Plant Inventory 2,319 2,840 - - - -
Non-Current Assets Held for Sale 842 842 988 - - -

Non-Current Assets Held for Sale 842 842 988 - - -

Advances 286,334 338,891 58,003 55,816 70,221 76,860
Prepayments 45,001,428 44,009,280 2,086,729 1,659,317 4,278,877 2,620,541
Deposits 9,951,700 11,532,738 136,673 132,334 100,282 93,674
Restricted Fund - - 1,559,933 1,628,011 17,028 15,693
Other Assets 716,303 690,222 233,943 363,823 223,975 308,188
Total Current Assets 362,905,685 366,132,413 104,333,853 102,870,960 383,571,584 437,015,845
364
(in thousand pesos)

2017 2016 2017 2016 2017 2016

Non-Current Assets
Non-International Reserves Foreign Assets - - - - - -

Foreign Exchange Receivables - - - - - -
Accounts - - - - - -
Financial Assets 15,728,145 8,112,110 8,815,011 5,247,256 2,032,196 1,619,601

Sale Securities 4,254 4,044 - - - -
Financial Assets-Domestic Investments 1,500 1,500 - - - -
Other Comprehensive Income - - - - - -
Investments in Joint Venture 1,433,971 1,361,960 996,959 952,950 - -

Investments in Joint Venture 1,433,971 1,361,960 996,959 952,950 - -
Investments in Associates/Affiliates 99,978 99,978 18,689,797 18,770,006 - -

Investments in Associates/Affiliates 99,978 99,978 18,689,797 18,770,006 - -
Investments in Subsidiaries 223,545,759 221,669,380 409,315 448,988 - -

Investments in Subsidiaries 223,545,759 221,669,380 409,315 448,988 - -

Sinking Fund 834,166 9,652,492 52,053 54,501 - 4,407,889
Investments in Time Deposits 4,403,927 600,176 5,075,997 3,348,009 271,686 200,000
Other Investments 694,309 685,842 2,438,153 2,411,446 70,679,943 67,738,986
Receivables 444,864,301 476,228,994 12,695,541 18,167,866 594,252 610,687

Loans and Receivable Accounts 98,016,639 92,958,231 9,785,295 11,848,969 554,667 546,345
Lease Receivables 244,531,792 279,284,875 - - - -
Inter-Agency Receivables 102,291,499 103,964,537 2,599,629 6,055,036 911 22,161
Intra-Agency Receivables - - - - - -
Other Receivables 24,371 21,350 310,618 263,862 38,674 42,181
Investment Property 16,104,448 16,190,054 118,388,547 74,906,342 63,752 64,625

Land and Buildings 16,094,012 16,182,577 118,338,638 74,863,450 63,752 64,625
Construction in Progress 10,436 7,477 49,910 42,892 - -
Property, Plant and Equipment 536,237,235 524,358,055 196,928,689 205,673,365 244,582,937 222,519,561
Land 146,792,147 141,480,395 73,923,251 73,775,247 12,427,600 12,953,865
Land Improvements 1,231,275 1,225,934 20,042,394 19,963,625 20,496,230 21,664,001
Infrastructure Assets 90,674,779 109,840,228 33,757,080 38,175,848 77,907,107 65,114,866
Transportation Equipment 5,982,170 7,632,989 359,127 292,865 402,622 397,019
Furniture, Fixtures and Books 943,086 1,080,146 474,936 528,836 154,148 150,173
Leased Assets 35,818 38,141 717 744 - -
Leased Assets Improvements 45,720 47,215 103,707 109,655 32,999 43,874
Heritage Assets 1,307 1,197 4,360 4,360 169 169
Service Concession Assets 204,860,443 176,264,307 37,591,270 37,472,559 95 95
Exploration and Evaluation Assets 7,296,626 8,239,343 - - 248,448 261,547
Other Property, Plant and Equipment 2,209,932 2,370,648 552,302 643,067 685,885 183,713
Construction in Progress 27,637,265 26,085,293 12,788,764 12,319,379 126,009,810 115,702,026
365
(in thousand pesos)

2017 2016 2017 2016 2017 2016

Biological Assets 162 162 - - 107,122 102,357

Bearer Biological Assets 162 162 - - 101,234 96,373
Consumable Biological Assets - - - - 5,888 5,983
Intangible Assets 270,440 413,367 61,485 48,214 7,958 5,277

Development in Progress 8,246 9,710 - - 1,931 -
Deferred Tax Assets 1,720,889 1,835,096 3,702,711 3,824,835 1,683 -

Deferred Tax Assets 1,720,889 1,835,096 3,702,711 3,824,835 1,683 -

Prepayments 81,381 103,009 6,747,726 6,755,404 2,737 2,899
Deposits 382,670 138,611 1,359,997 748,380 2,494 2,456
Restricted Fund 17,032,979 11,130,010 3,249,655 3,589,235 90,045 91,527
Other Assets 29,643,299 27,183,677 4,507,802 4,759,136 5,550,297 5,448,867
Total Non-Current Assets 1,293,078,060 1,299,762,971 384,119,439 349,705,931 323,987,102 302,814,732
Total Assets 1,655,983,745 1,665,895,385 488,453,292 452,576,891 707,558,687 739,830,577
LIABILITIES
Current Liabilities

Payables 66,240,357 55,982,258 6,913,913 5,383,644 52,298,367 54,953,538
Tax Refunds Payable 4,849 6,684 35,730 30,840 115 142
Value through Surplus/Profit or Deficit/Loss - - - - - -
Financial Liabilities Held for Trading - - - - - -
Repurchase Agreements - - - - - -
Unsecured Subordinated Debt - - - - - -
Other Financial Liabilities 782,532 720,305 105,801 146,117 - -
Deposit Liabilities - - - - - -

Due to BSP/Other Banks/Others 11,885 7,947 272,587 266,516 - -
Intra-Agency Payables 4,031,514 21,164,336 86,319 82,980 301,114,912 357,177,920

Intra-Agency Payables 4,031,514 21,164,336 86,319 82,980 301,114,912 357,177,920

Deferred Credits/Unearned Income 28,240,594 14,404,178 1,054,381 432,100 57,949 49,530

Deferred Credits 20,214,129 11,945,734 970,437 320,226 22,114 16,041
Unearned Revenue/Income 8,026,465 2,458,444 83,944 111,873 35,835 33,490
Provisions 9,127,759 657,844 796,961 661,256 54,124 55,761

Provisions 9,127,759 657,844 796,961 661,256 54,124 55,761
Other Payables 16,403,643 19,852,522 6,151,944 4,800,638 4,065,005 3,047,700

Other Payables 16,403,643 19,852,522 6,151,944 4,800,638 4,065,005 3,047,700
Total Current Liabilities 361,813,380 361,431,568 44,575,562 45,978,602 500,397,505 553,112,049
366
(in thousand pesos)

2017 2016 2017 2016 2017 2016


Payables 198,948,204 236,825,119 8,969 13,463 - -
Currency Issued - - - - - -
Inter-Agency Payables 4,933,413 4,916,116 17,091,005 17,215,102 38,458 35,565

Intra-Agency Payables - - 31,226 25,769 - -

Trust Liabilities 8,498,072 8,082,445 3,758,398 3,617,637 185,657 176,315

Deferred Credits/Unearned Income 215,696,406 152,566,014 30,765,782 31,227,787 25,504,434 23,577,889

Deferred Credits 187,721,847 147,582,583 26,395,437 26,598,411 24,536,005 22,988,793
Unearned Revenue/Income 27,974,559 4,983,432 4,370,345 4,629,377 968,428 589,096
Provisions 1,384,615 1,256,331 909,016 761,281 308,146 -

Provisions 1,384,615 1,256,331 909,016 761,281 308,146 -
Deferred Tax Liabilities 4,392,859 4,494,497 7,493,652 6,289,316 - -

Other Payables 3,042,917 2,615,707 2,312,484 1,946,476 27,402 27,635

Other Payables 3,042,917 2,615,707 2,312,484 1,946,476 27,402 27,635
Total Non-Current Liabilities 771,648,295 753,821,472 94,396,839 95,646,198 105,847,675 116,145,562
Total Liabilities 1,133,461,674 1,115,253,040 138,972,401 141,624,800 606,245,180 669,257,610
NET ASSETS/EQUITY
Government Equity 199,415,045 231,702,784 102,239,488 99,770,347 87,489,149 57,211,277

Revaluation Surplus 120,075,529 124,612,848 6,081,927 812,494 6,148,678 6,660,521
Retained Earnings/(Deficit) 114,986,102 106,270,090 62,720,359 56,562,183 190,697 (802,808)
Cumulative Translation Adjustment (1,220) 13,341 - - - -
Cumulative Changes in Fair Value 40,388,525 40,385,193 - - (1,537) 17,456
Members’ Equity - - - - - -
Total Net Assets/Equity 522,522,070 550,642,345 349,480,891 310,952,091 101,313,507 70,572,967
Total Liabilities and Net Assets/Equity 1,655,983,745 1,665,895,385 488,453,292 452,576,891 707,558,687 739,830,577
367
(in thousand pesos)
Cluster 6 - Social, Cultural,

Trading, Promotional and
Other Services
2017 2016
(Restated)
ASSETS
Current Assets
Cash and Cash Equivalents 87,984,709 67,465,737

Cash on Hand 1,597,837 1,389,688
Cash in Bank-Local Currency 34,692,303 15,532,041
Cash in Bank-Foreign Currency 928,093 540,980
Treasury/Agency Cash Accounts - -
Cash Equivalents 50,766,476 50,003,028
International Reserves - -
International Reserves - -
Financial Assets 759,832 1,337,016

Surplus/Profit or Deficit/Loss - -
Financial Assets-Held to Maturity 748,624 1,325,773
Sale Securities 11,208 11,243
Financial Assets-Domestic Investments - -
Investment Securities at Amortized Cost - -

Sinking Fund - -
Other Investments - -
Receivables 22,256,248 19,459,813

Loans and Receivable Accounts 12,671,445 10,748,051
Lease Receivables 96,959 94,518
Intra-Agency Receivables 20,645 20,043
Other Receivables 961,144 872,260
Inventories 1,398,921 1,615,300

Inventory Held for Sale 173,867 221,395
Inventory Held for Distribution 145,459 95,442
Inventory Held for Manufacturing 7,789 19,132
Inventory Held for Consumption 1,068,902 1,279,331
Equipment 2,809 -
and Books 95 -
Domestic Gold and Silver Inventory - -
Plant Inventory - -
Non-Current Assets Held for Sale - -

Other Current Assets 1,186,720 820,495

Advances 71,881 27,559
Prepayments 1,035,177 720,499
Deposits 33,436 31,796
Restricted Fund - -
Other Assets 46,225 40,641
Total Current Assets 118,160,860 95,993,586
368
(in thousand pesos)

Other Services
2017 2016
(Restated)
Non-Current Assets
Non-International Reserves Foreign Assets - -

Foreign Exchange Receivables - -
Accounts - -
Financial Assets 103,495,799 102,324,825

Surplus/Profit or Deficit/Loss - -
Sale Securities - 942,906
Financial Assets-Domestic Investments - -
Investment Securities at Amortized Cost - -
Other Comprehensive Income - -
Investments in Joint Venture 276,816 69,000

Investments in Joint Venture 276,816 69,000
Investments in Associates/Affiliates - -
Investments in Subsidiaries - -

Sinking Fund - -
Investments in Time Deposits 695,742 215,069
Receivables 573,762 594,922

Loans and Receivable Accounts 355,096 345,064
Lease Receivables - -
Inter-Agency Receivables 31,845 61,561
Intra-Agency Receivables - -
Investment Property 30,171,216 30,152,764

Land and Buildings 30,171,216 30,152,764
Construction in Progress - -
Property, Plant and Equipment 23,132,547 22,566,849

Land 10,030,739 9,820,285
Land Improvements 65,465 50,804
Infrastructure Assets 31,242 32,816
Buildings and Other Structures 3,621,552 3,452,033
Machinery and Equipment 6,709,154 6,343,575
Transportation Equipment 367,706 360,856
Furniture, Fixtures and Books 455,544 450,194
Leased Assets - -
Leased Assets Improvements 252,672 274,984
Heritage Assets 52,458 52,509
Service Concession Assets - -
Exploration and Evaluation Assets - -
Bearer Trees, Plants and Crops - -
Other Property, Plant and Equipment 312,591 339,861
Construction in Progress 1,233,424 1,388,933
369
(in thousand pesos)

Other Services
2017 2016
(Restated)
Biological Assets - -
Bearer Biological Assets - -
Consumable Biological Assets - -
Intangible Assets 654,319 616,475

Intangible Assets 597,000 605,147
Development in Progress 57,319 11,328
Deferred Tax Assets 152,745 54,435

Deferred Tax Assets 152,745 54,435
Other Non-Current Assets 18,176,563 13,525,914

Prepayments 333,570 348,668
Deposits 834,251 795,824
Restricted Fund 12,973,276 10,754,911
Other Assets 4,035,466 1,626,511
Total Non-Current Assets 179,982,860 172,902,872
Total Assets 298,143,720 268,896,458
LIABILITIES
Current Liabilities
Financial Liabilities 56,684,004 45,130,275

Payables 56,445,187 44,934,547
Bills/Bonds/Loans Payable 205,825 167,870
Tax Refunds Payable 148 121
Value through Surplus/Profit or Deficit/Loss - -
Financial Liabilities Held for Trading - -
Repurchase Agreements - -
Unsecured Subordinated Debt - -
Deposit Liabilities - -

Due to BSP/Other Banks/Others - -
Intra-Agency Payables 2,185,736 5,979,113

Intra-Agency Payables 2,185,736 5,979,113

Deferred Credits/Unearned Income 121,830 117,929

Deferred Credits 77,939 85,672
Unearned Revenue/Income 43,891 32,257
Provisions 119,149 119,039

Provisions 119,149 119,039
Other Payables 5,750,322 4,532,382

Other Payables 5,750,322 4,532,382
Total Current Liabilities 101,048,716 78,056,895
370
(in thousand pesos)

Other Services
2017 2016
(Restated)
Financial Liabilities 225,785 288,529

Payables - -
Bills/Bonds/Loans Payable 225,785 288,529
Other Financial Liabilities - -
Currency Issued - -
Currency Issued - -
Inter-Agency Payables 70,847 95,119

Intra-Agency Payables - -

Deferred Credits/Unearned Income 1,759,407 2,300,311

Deferred Credits 514,176 278,631
Unearned Revenue/Income 1,245,231 2,021,680
Provisions 25,846,398 22,929,626

Provisions 25,846,398 22,929,626
Deferred Tax Liabilities 289 109

Deferred Tax Liabilities 289 109
Other Payables 5,797,648 8,269,389

Other Payables 5,797,648 8,269,389
Total Non-Current Liabilities 48,072,659 45,571,362
Total Liabilities 149,121,375 123,628,256
NET ASSETS/EQUITY

Retained Earnings/(Deficit) 108,442,666 106,875,225
Stockholders' Equity 409,431 409,431
Cumulative Translation Adjustment - -
Cumulative Changes in Fair Value 9,206 9,240
Members’ Equity - -
Total Net Assets/Equity 149,022,345 145,268,202
Total Liabilities and Net Assets/Equity 298,143,720 268,896,458
371
(in thousand pesos)

Total
2017 2016 2017 2016 2017 2016

Income 1,140,597,517 1,096,194,549 204,088,400 189,034,748 538,545,495 514,301,215
Tax Revenue 2,852,449 2,414,944 - - - -
Service and Business Income 923,989,875 861,112,765 170,903,798 149,800,195 397,992,310 359,070,658
Service Income 22,509,326 23,825,289 7,943,581 7,415,543 3,342,647 3,550,416
Business Income 901,480,549 837,287,476 162,960,217 142,384,652 394,649,663 355,520,242
Shares, Grants and Donations 20,435,913 20,341,866 24,291 17,224 269,173 251,635
Shares 20,070,659 20,145,444 - - 269,173 251,635
Grants and Donations 365,253 196,422 24,291 17,224 - -
Gains 164,237,220 194,226,231 19,289,207 37,138,186 133,981,103 143,417,961
Other Non-Operating Income 29,082,060 18,098,742 13,871,104 2,079,144 6,302,909 11,560,960

Sale of Assets 21,047 17,395 - - 15,627 2,621
Reversal of Impairment Loss 4,316,590 10,655,111 611,781 51,105 3,704,085 10,568,287
Miscellaneous Income 24,744,423 7,426,236 13,259,323 2,028,039 2,583,197 990,052
Expenses 924,091,394 955,399,733 150,814,466 144,729,593 392,382,119 399,733,327
Personnel Services 89,833,099 85,158,225 29,512,201 25,868,475 16,070,992 15,935,950

Salaries and Wages 52,269,373 47,584,621 24,791,983 21,642,987 6,696,882 6,411,502
Other Compensation 19,070,903 20,070,028 339,070 334,858 5,133,802 5,393,196
Personnel Benefit Contributions 11,762,119 11,454,545 3,012,677 2,990,791 3,350,130 3,111,004
Other Personnel Benefits 6,730,703 6,049,031 1,368,471 899,840 890,178 1,020,248
Maintenance and Other Operating Expenses 540,126,826 489,816,222 35,767,409 32,252,867 279,372,106 234,777,259
Traveling Expenses 1,791,029 1,621,780 421,830 356,277 231,159 221,451
Training and Scholarship Expenses 1,040,819 927,840 66,774 80,425 237,091 218,484
Supplies and Materials Expenses 31,512,759 27,510,134 279,199 217,497 675,345 609,268
Utility Expenses 9,210,209 8,815,184 638,136 604,285 670,613 634,340
Communication Expenses 1,620,126 1,493,308 289,187 298,830 616,335 543,086
Awards/Rewards, Prizes and Indemnities 129,074 74,610 258 38 - -
Survey, Research, Exploration and
Development Expenses 109,602 129,623 400 - 17,997 10,329
Demolition/Relocation and Desilting/
Drilling/Dredging Expenses 275,892 330,441 - - 88 13
Generation, Transmission and
Distribution Expenses 24,203,209 22,466,630 - - - -
Confidential, Intelligence and
Extraordinary Expenses 6,835,330 6,375,555 6,495,375 6,003,103 115,895 111,603
Professional Services 4,943,504 4,447,101 741,259 770,883 566,031 528,929
General Services 7,469,319 7,305,815 332,374 306,341 1,705,587 1,771,254
Repairs and Maintenance 7,015,008 7,410,631 645,232 720,646 611,256 561,953
Taxes, Insurance Premiums and
Other Fees 18,283,563 16,609,438 12,758,209 8,428,309 502,141 414,904
Labor and Wages 1,376,593 1,095,312 1,333 96 772,562 541,003
Members' Benefits 374,631,153 321,848,184 - - 264,140,387 219,715,188
Receivership and Liquidation Expenses 253,763 258,137 253,763 258,137 - -
Other Maintenance and Operating
Expenses 49,425,874 61,096,501 12,844,082 14,208,000 8,509,618 8,895,454
Financial Expenses 91,485,849 101,781,233 57,993,018 66,612,446 1,038,506 1,095,151
Direct Costs 38,710,332 50,078,280 664,835 669,248 151,571 217,725
372
(in thousand pesos)

Total
2017 2016 2017 2016 2017 2016

Non-Cash Expenses 163,935,288 228,565,773 26,877,002 19,326,556 95,748,943 147,707,241

Depreciation 30,200,689 30,500,879 2,230,594 2,068,244 1,474,136 1,439,956
Amortization 652,407 585,901 117,590 106,138 226,986 218,808
Impairment Loss 17,410,934 28,775,364 1,710,789 1,368,833 8,411,212 23,224,717
Losses 115,593,523 168,562,363 22,818,029 15,783,341 85,610,245 122,799,742
Discount and Rebates 77,736 141,266 - - 26,364 24,018
Profit/(Loss) Before Tax 216,506,123 140,794,816 53,273,935 44,305,155 146,163,377 114,567,887

Income Tax Expense 13,190,163 8,882,173 2,983,646 1,877,068 269,906 267,380
Profit/(Loss) After Tax 203,315,960 131,912,643 50,290,288 42,428,088 145,893,471 114,300,507
Net Assistance/Subsidy 77,801,350 92,935,512 29,197 60,662 21,836,777 12,866,180

Assistance and Subsidy 129,559,719 135,601,923 47,574 93,268 23,294,632 14,893,665
Financial Assistance/Subsidy/Contribution 51,758,369 42,666,410 18,377 32,606 1,457,855 2,027,484
Net Income/(Loss) 281,117,310 224,848,155 50,319,485 42,488,750 167,730,248 127,166,688

Other Comprehensive Income/
(Loss) for the Period 6,704,779 (11,875,881) 3,489,660 (7,355,409) 3,321,935 (4,627,383)
Comprehensive Income/(Loss) 287,822,089 212,972,274 53,809,145 35,133,340 171,052,183 122,539,304
373
(in thousand pesos)
Cluster 4 - Industrial and Cluster 5- Agricultural and

2017 2016 2017 2016 2017 2016

Income 162,665,656 168,855,464 56,862,411 46,892,196 24,621,935 36,262,119
Tax Revenue - - 2,852,449 2,414,944 - -
Service Income 3,734,309 4,040,411 2,993,577 3,744,059 1,573,079 3,222,282
Business Income 136,618,459 134,951,101 38,695,828 35,788,068 19,490,797 30,849,031
Shares, Grants and Donations 19,805,848 19,946,235 35,965 39,520 18,451 44,926
Shares 19,765,522 19,868,761 35,965 25,048 - -
Grants and Donations 40,326 77,474 - 14,472 18,451 44,926
Gains 1,562,718 9,013,593 6,364,132 2,969,220 2,687,204 1,453,098
Other Non-Operating Income 944,321 904,124 5,920,459 1,936,385 852,404 692,783

Sale of Assets 2,928 1,938 653 12,827 1,839 9
Reversal of Impairment Loss 48 867 655 34,852 - -
Miscellaneous Income 941,346 901,319 5,919,151 1,888,706 850,565 692,774
Expenses 144,161,701 164,439,598 33,043,849 40,549,551 42,615,552 54,313,374

Other Compensation 4,132,336 4,114,977 1,582,955 1,601,643 1,593,067 1,528,288
Personnel Benefit Contributions 1,141,464 1,096,983 467,730 481,152 447,766 420,533
Other Personnel Benefits 1,049,864 1,024,249 546,230 441,693 629,706 451,845
Traveling Expenses 406,379 358,000 182,093 156,852 248,210 240,752
Training and Scholarship Expenses 322,391 256,446 134,968 126,202 127,592 83,548
Supplies and Materials Expenses 24,821,189 21,261,642 452,303 416,000 1,486,077 1,420,503
Utility Expenses 3,351,679 3,060,667 2,976,454 2,987,413 410,979 417,799
Communication Expenses 223,429 200,378 135,403 125,056 84,660 83,880
Awards/Rewards, Prizes and Indemnities 97,477 65,228 11,963 3,280 8,911 2,725
Development Expenses 5,996 7,965 40,693 64,519 1,165 1,999
Drilling/Dredging Expenses 268,979 330,427 6,825 - - -
Distribution Expenses 24,203,209 22,466,630 - - - -
Extraordinary Expenses 115,936 114,614 50,272 42,863 9,833 9,362
Professional Services 884,118 865,167 1,326,981 1,133,562 625,878 428,707
General Services 1,684,907 1,596,315 1,808,328 1,666,646 830,697 889,456
Repairs and Maintenance 3,930,223 4,213,173 1,129,635 1,028,268 253,810 302,312
Other Fees 1,419,506 4,062,761 403,736 563,505 114,437 179,032
Labor and Wages 602,699 554,212 - - - -
Members' Benefits 459 2,224 220 76 - -
Receivership and Liquidation Expenses - - - - - -
Expenses 11,951,367 12,493,606 5,155,985 15,232,631 1,813,850 1,861,521
Direct Costs 6,646,342 6,329,734 51,254 54,941 21,659,836 33,588,683
374
(in thousand pesos)
Cluster 4 - Industrial and Cluster 5- Agricultural and

2017 2016 2017 2016 2017 2016


Depreciation 16,321,542 17,089,463 6,498,016 6,614,911 1,772,173 1,244,579
Amortization 166,672 159,678 1,083 1,234 637 -
Impairment Loss 2,925,471 2,564,250 3,472,200 944,705 640,701 558,378
Losses 5,495,732 27,722,569 1,224,862 1,907,539 88,214 219,302
Discount and Rebates 50,050 25,685 100 81 953 91,166
Profit/(Loss) Before Tax 18,503,955 4,415,866 23,818,562 6,342,645 (17,993,618) (18,051,255)

Profit/(Loss) After Tax 13,690,415 1,253,723 19,896,511 3,077,191 (18,952,847) (18,207,904)
Net Assistance/Subsidy (931,435) 3,108,155 (2,568,007) 17,961,938 44,390,045 37,574,454

Assistance and Subsidy 3,078,880 5,576,116 5,259,027 22,271,234 44,401,976 37,636,684
Financial Assistance/Subsidy/Contribution 4,010,315 2,467,961 7,827,034 4,309,296 11,931 62,230
Net Income/(Loss) 12,758,980 4,361,878 17,328,504 21,039,129 25,437,198 19,366,550

(Loss) for the Period (11,229) 16,304 (76,559) 81,587 (18,993) 6,446
375
(in thousand pesos)

Other Services
2017 2016
(Restated)
Income 153,813,621 140,848,807
Tax Revenue - -
Service and Business Income 151,987,717 139,646,960

Service Income 2,922,133 1,852,579
Business Income 149,065,584 137,794,382
Shares, Grants and Donations 282,185 42,326

Shares - -
Grants and Donations 282,185 42,326
Gains 352,856 234,173
Other Non-Operating Income 1,190,863 925,347

Sale of Assets - -
Reversal of Impairment Loss 20 -
Miscellaneous Income 1,190,842 925,347
Expenses 161,073,709 151,634,290
Personnel Services 17,854,554 18,444,810

Salaries and Wages 5,976,275 5,782,504
Other Compensation 6,289,673 7,097,067
Personnel Benefit Contributions 3,342,351 3,354,083
Other Personnel Benefits 2,246,254 2,211,156
Maintenance and Other Operating Expenses 130,865,412 121,408,171

Traveling Expenses 301,358 288,447
Training and Scholarship Expenses 152,003 162,735
Supplies and Materials Expenses 3,798,646 3,585,223
Utility Expenses 1,162,348 1,110,679
Communication Expenses 271,113 242,077
Awards/Rewards, Prizes and Indemnities 10,466 3,339
Development Expenses 43,350 44,811
Drilling/Dredging Expenses - -
Distribution Expenses - -
Extraordinary Expenses 48,019 94,010
Professional Services 799,237 719,854
General Services 1,107,426 1,075,803
Repairs and Maintenance 444,853 584,279
Other Fees 3,085,534 2,960,926
Labor and Wages - 1
Members' Benefits 110,490,087 102,130,696
Receivership and Liquidation Expenses - -
Expenses 9,150,973 8,405,289
Financial Expenses 166,311 174,925
Direct Costs 9,536,494 9,217,948
376
(in thousand pesos)

Other Services
2017 2016
(Restated)
Non-Cash Expenses 2,650,937 2,388,437

Depreciation 1,904,226 2,043,726
Amortization 139,438 100,044
Impairment Loss 250,562 114,480
Losses 356,441 129,871
Discount and Rebates 270 317
Profit/(Loss) Before Tax (7,260,088) (10,785,483)

Income Tax Expense 241,791 153,480
Profit/(Loss) After Tax (7,501,879) (10,938,963)
Net Assistance/Subsidy 15,044,773 21,364,123

Assistance and Subsidy 53,477,629 55,130,956
Financial Assistance/Subsidy/Contribution 38,432,856 33,766,833
Net Income/(Loss) 7,542,894 10,425,161

(Loss) for the Period (35) 2,574
Comprehensive Income/(Loss) 7,542,860 10,427,735
377
(in thousand pesos)

TOTAL
2017 2016 2017 2016 2017 2016

GOVERNMENT EQUITY 137,131,586 114,548,754 (409,990,694) (410,300,661) 125,281,361 105,881,248
ACCUMULATED SURPLUS/(DEFICIT)
Beginning balance (51,645,673) (15,378,184) (413,300,661) (414,365,082) 88,668,862 78,005,001
Adjustments: - 3,571,944 - - - 4,577
Add/(Deduct):
Changes in Accounting Policy - (2,563) - - - -
Prior Period Errors - 3,994,846 - - - 4,577
Other Adjustments - (420,338) - - - -
Restated Balance (51,645,673) (11,806,240) (413,300,661) (414,365,082) 88,668,862 78,009,578
Changes in Equity for the Year 31,476,591 (39,839,433) 309,967 1,064,421 18,155,200 10,659,284
Add/(Deduct):
Surplus/(Deficit) for the period 45,914,235 25,863,706 (19,206) 887,476 18,248,340 10,552,828
Dividends (2,190,413) (186,947) - - (18,220) -
Other Adjustments (12,247,230) (65,516,193) 329,173 176,945 (74,921) 106,456
Ending Balance (20,169,082) (51,645,673) (412,990,694) (413,300,661) 106,824,062 88,668,862
GOVERNMENT EQUITY
Beginning balance 62,134,219 60,428,131 3,000,000 3,000,000 3,019,542 3,019,564
Adjustments: - 303,183 - - - -
Add/(Deduct):
Prior Period Errors - 13,919 - - - -
Other Adjustments - 289,264 - - - -
Restated Balance 62,134,219 60,731,314 3,000,000 3,000,000 3,019,542 3,019,564
Changes in Equity for the Year (12,218,659) 1,402,905 - - - (22)

Add/(Deduct):
Additional Capital from National
Government 1,581,600 1,190,153 - - - -
Other Adjustments (13,800,259) 212,753 - - - (22)
Ending Balance 49,915,560 62,134,219 3,000,000 3,000,000 3,019,542 3,019,542
CONTRIBUTED CAPITAL
Beginning balance 104,060,208 103,540,634 - - 14,192,844 13,719,576
Adjustments: - (5,021) - - - -
Add/(Deduct):
Prior Period Errors - (288) - - - -
Restated Balance 104,060,208 103,535,614 - - 14,192,844 13,719,576
Changes in Equity for the Year 3,324,901 524,594 - - 1,244,914 473,268

Add/(Deduct):
Government 2,827,285 476,769 - - 1,226,700 373,880
Other Adjustments 497,616 47,825 - - 18,214 99,389
Ending Balance 107,385,108 104,060,208 - - 15,437,758 14,192,844
REVALUATION SURPLUS
Beginning balance 153,301,003 163,513,367 61,200 61,200 13,463,393 13,233,414
Adjustments: - (32,422) - - - -
Add/(Deduct):
Restated Balance 153,301,003 163,480,945 61,200 61,200 13,463,393 13,233,414
Changes in Equity for the Year (728,702) (10,179,943) - - (722,233) 229,979

Add/(Deduct):
Other Comprehensive Income/Loss for
the Year (74,872) 229,979 - - - 229,979
378
(in thousand pesos)

TOTAL
2017 2016 2017 2016 2017 2016

Other Adjustments (653,830) (10,409,922) - - (722,233) -

Ending Balance 152,572,301 153,301,003 61,200 61,200 12,741,161 13,463,393
RETAINED EARNINGS/(DEFICIT)
Beginning balance 2,045,527,741 1,892,923,946 243,409,615 198,245,568 1,533,213,436 1,412,423,826
Adjustments: - 3,288,592 - (235,745) - 18,964,013
Add/(Deduct):
Changes in Accounting Policy - (207,783) - (57,434) - (55,476)
Prior Period Errors - (685,821) - (219,506) - (1,327,558)
Other Adjustments - 4,182,196 - 41,195 - 20,347,046
Restated Balance 2,045,527,741 1,896,212,538 243,409,615 198,009,823 1,533,213,436 1,431,387,838
Changes in Equity for the Year 200,984,144 149,315,203 57,424,298 45,399,792 126,124,713 101,825,598
Add/(Deduct):
Issuances of Share Capital - 2,500 - - - -
Member's Contribution (89,858) (82,106) - - - -
Net Income/Loss for the Year 235,203,076 199,066,035 50,338,691 41,601,274 149,481,908 116,613,860
Dividends (50,936,096) (43,515,593) (12,141,639) (11,789,649) (22,986,683) (14,629,907)
Other Adjustments 16,807,023 (6,155,633) 19,227,246 15,588,168 (370,511) (158,355)
Ending Balance 2,246,511,886 2,045,527,741 300,833,913 243,409,615 1,659,338,149 1,533,213,436
STOCKHOLDERS' EQUITY 350,016,941 321,700,890 92,969,472 89,785,472 23,054,312 22,554,312
SHARE CAPITAL
Beginning balance 290,778,672 279,778,431 88,653,974 77,804,974 - -
Adjustments: - 20,000 - 20,000 - -
Add/(Deduct):
Other Adjustments - 20,000 - 20,000 - -
Restated Balance 290,778,672 279,798,431 88,653,974 77,824,974 - -
Changes in Equity for the Year 27,816,048 10,980,241 3,184,000 10,829,000 - -

Add/(Deduct):
Issuances of Share Capital 3,184,000 11,092,814 3,184,000 10,829,000 - -
Other Adjustments 24,632,048 (112,573) - - - -
Ending Balance 318,594,720 290,778,672 91,837,974 88,653,974 - -
SHARE PREMIUM
Changes in Equity for the Year - 0 - - - -
Add/(Deduct):
Issuances of Share Capital - 0 - - - -
Ending Balance 1,255,832 1,255,832 1,025,470 1,025,470 - -
SUBSCRIBED SHARE CAPITAL

Changes in Equity for the Year 500,002 17,518 - (5,833) 500,000 79,510
Add/(Deduct):
Government 500,000 - - - 500,000 -
Other Adjustments 2 17,518 - (5,833) - 79,510
Ending Balance 23,466,830 22,966,828 106,028 106,028 23,054,312 22,554,312
TREASURY SHARES
Beginning balance (18,130) (18,130) (0) (0) - -
Changes in Equity for the Year 0 (0) 0 (0) - -
Add/(Deduct):
Other Adjustments 0 (0) 0 (0) - -
Ending Balance (18,130) (18,130) - (0) - -
379
(in thousand pesos)

TOTAL
2017 2016 2017 2016 2017 2016

OTHER EQUITY INSTRUMENTS

Beginning balance 6,717,689 6,716,863 - - - -
Add/(Deduct):
Other Adjustments - 827 - - - -
Ending Balance 6,717,689 6,717,689 - - - -
CUMULATIVE TRANSLATION ADJUSTMENT

Beginning balance (44,075) - - - (57,416) -
Changes in Equity for the Year (79,447) (44,075) - - (64,886) (57,416)
Add/(Deduct):
the Year (122,302) (57,416) - - (122,302) (57,416)
Other Adjustments 42,855 13,341 - - 57,416 -
Ending Balance (123,521) (44,075) - - (122,302) (57,416)
CUMULATIVE CHANGES IN FAIR VALUE

OF INVESTMENTS
Beginning balance 18,065,589 30,187,771 (5,349,729) 2,005,680 (16,996,571) (12,206,805)
Adjustments: - 21,190 - - - 10,180
Add/(Deduct):
Prior Period Errors - 16,567 - - - 16,567
Other Adjustments - 4,624 - - - (6,386)
Restated Balance 18,065,589 30,208,961 (5,349,729) 2,005,680 (16,996,571) (12,196,625)
Changes in Equity for the Year 6,918,035 (12,143,372) 3,489,660 (7,355,409) 3,444,071 (4,799,946)
Add/(Deduct):
Changes in fair value of available-for-
sale securities 6,917,993 (12,143,140) 3,489,660 (7,355,409) 3,444,071 (4,799,946)
Other Adjustments 42 (232) - - 0 -
Ending Balance 24,983,625 18,065,589 (1,860,069) (5,349,729) (13,552,500) (16,996,571)
MEMBERS' EQUITY
Adjustments: - (10,747,205) - - - (10,747,205)
Add/(Deduct):
Prior Period Errors - (10,747,205) - - - (10,747,205)
Restated Balance 318,372,760 290,674,115 - - 318,372,760 290,674,115
Changes in Equity for the Year 43,837,247 27,698,645 - - 43,837,247 27,698,645

Add/(Deduct):
Member's Contribution 33,880,667 32,587,761 - - 33,880,667 32,587,761
Dividends 22,301,678 14,250,781 - - 22,301,678 14,250,781
Other Adjustments (12,345,098) (19,139,897) - - (12,345,098) (19,139,897)
Ending Balance 362,210,007 318,372,760 - - 362,210,007 318,372,760
Total Equity 3,273,302,824 2,971,472,662 (17,986,178) (82,394,103) 2,168,950,188 1,976,431,161
380
(in thousand pesos)

2017 2016 2017 2016 2017 2016

GOVERNMENT EQUITY 199,415,045 231,702,784 102,239,488 99,770,347 87,489,149 57,211,277
Adjustments: - 2,885,402 - 113,021 - 1,154,921
Add/(Deduct):
Changes in Accounting Policy - - - - - (1,266)
Prior Period Errors - 3,300,816 - 1,669 - 1,033,548
Other Adjustments - (415,414) - 111,352 - 122,639
Changes in Equity for the Year (18,411,089) (75,305,295) 1,895,299 1,829,628 28,878,803 18,962,316
Add/(Deduct):
Surplus/(Deficit) for the period 987,062 (8,783,774) 1,979,294 1,827,379 22,981,102 18,838,393
Dividends (2,028,694) (118,136) (41,836) (16,809) (101,664) (52,002)
Other Adjustments (17,369,458) (66,403,385) (42,158) 19,058 5,999,366 175,925
Ending Balance 178,515,785 196,926,875 17,035,462 15,140,162 74,027,512 45,148,709
GOVERNMENT EQUITY
Adjustments: - 303,246 - (62) - (1)
Add/(Deduct):
Prior Period Errors - 13,982 - (62) - (1)
Changes in Equity for the Year (14,042,529) 1,049,959 112,496 179,137 1,399,069 134,894
Add/(Deduct):
Government 48,471 1,005,141 116,761 179,137 1,416,368 1,098
Other Adjustments (14,091,000) 44,818 (4,265) - (17,300) 133,796
Ending Balance 11,507,823 25,550,352 12,744,885 12,632,390 5,003,202 3,604,134
CONTRIBUTED CAPITAL
Adjustments: - (5,021) - - - -
Add/(Deduct):
Changes in Equity for the Year 165,879 (42,010) 461,346 93,335 - -

Add/(Deduct):
Government 50,241 9,554 97,582 93,335 - -
Other Adjustments 115,638 (51,564) 363,764 - - -
Ending Balance 9,391,437 9,225,558 72,459,141 71,997,795 8,458,434 8,458,434
REVALUATION SURPLUS
Adjustments: - (29,527) - (2,895) - -
Add/(Deduct):
Other Adjustments - (29,527) - (2,895) - -
Changes in Equity for the Year (4,537,319) (10,409,680) 5,269,433 - (511,843) (242)
Add/(Deduct):
the Year - - (74,872) - - -
381
(in thousand pesos)

2017 2016 2017 2016 2017 2016

Other Adjustments (4,537,319) (10,409,680) 5,344,304 - (511,843) (242)

Ending Balance 120,075,529 124,612,848 6,081,927 812,494 6,148,678 6,660,521
Beginning balance 106,270,090 96,557,843 56,562,183 61,628,667 (802,808) (1,290,318)
Adjustments: - (179,048) - (14,654,533) - 120,497
Add/(Deduct):
Changes in Accounting Policy - (93,438) - (1,873) - 438
Prior Period Errors - (28,099) - 989,108 - (16,337)
Other Adjustments - (57,511) - (15,641,769) - 136,397
Restated Balance 106,270,090 96,378,795 56,562,183 46,974,134 (802,808) (1,169,821)
Changes in Equity for the Year 8,716,012 9,891,294 6,158,176 9,588,049 993,505 367,013
Add/(Deduct):
Member's Contribution - - - - - -
Net Income/Loss for the Year 11,771,918 13,145,652 15,349,210 19,293,337 2,456,097 528,157
Dividends (2,999,578) (3,682,678) (8,792,880) (11,839,921) (1,196,168) (172,123)
Other Adjustments (56,328) 425,821 (398,154) 2,134,633 (266,424) 10,979
Ending Balance 114,986,102 106,270,089 62,720,359 56,562,183 190,697 (802,808)
SHARE CAPITAL
Adjustments: - - - - - -
Add/(Deduct):
Other Adjustments - - - - - -
Changes in Equity for the Year - - 24,632,048 151,241 - -

Add/(Deduct):
Issuances of Share Capital - - - 263,814 - -
Other Adjustments - - 24,632,048 (112,573) - -
Ending Balance 46,483,077 46,483,077 172,536,474 147,904,426 7,327,764 7,327,764
SHARE PREMIUM
Beginning balance 24,773 24,773 46,138 46,137 159,451 159,451
Changes in Equity for the Year - - - 0 - -
Add/(Deduct):
Issuances of Share Capital - - - 0 - -
Ending Balance 24,773 24,773 46,138 46,138 159,451 159,451

Beginning balance 10 10 306,477 362,636 - -
Changes in Equity for the Year - - 2 (56,159) - -
Add/(Deduct):
Government - - - - - -
Other Adjustments - - 2 (56,159) - -
Ending Balance 10 10 306,479 306,477 - -
TREASURY SHARES
Beginning balance (735) (735) (16,700) (16,700) (696) (696)
Changes in Equity for the Year - - - - - -
Add/(Deduct):
Ending Balance (735) (735) (16,700) (16,700) (696) (696)
382
(in thousand pesos)

2017 2016 2017 2016 2017 2016


Add/(Deduct):
Ending Balance 1,150,963 1,150,963 5,566,726 5,566,726 - -

Beginning balance 13,341 - - - - -
Changes in Equity for the Year (14,561) 13,341 - - - -
Add/(Deduct):
the Year - - - - - -
Other Adjustments (14,561) 13,341 - - - -
Ending Balance (1,220) 13,341 - - - -

OF INVESTMENTS
Beginning balance 40,385,193 40,382,230 - - 17,456 -
Adjustments: - - - - - 11,010
Add/(Deduct):
Prior Period Errors - - - - - -
Other Adjustments - - - - - 11,010
Restated Balance 40,385,193 40,382,230 - - 17,456 11,010
Changes in Equity for the Year 3,332 2,963 - - (18,993) 6,446

Add/(Deduct):
sale securities 3,290 3,195 - - (18,993) 6,446
Other Adjustments 42 (232) - - - -
Ending Balance 40,388,525 40,385,193 - - (1,537) 17,456
MEMBERS' EQUITY
Beginning balance - - - - - -
Add/(Deduct):
Restated Balance - - - - - -

Add/(Deduct):
Dividends - - - - - -
Ending Balance - - - - - -
Total Equity 522,522,070 550,642,344 349,480,891 310,952,091 101,313,507 70,572,967
383
(in thousand pesos)

Other Services
2017 2016
(Restated)
GOVERNMENT EQUITY 32,697,236 30,283,759
Beginning balance 15,770,381 13,406,145
Adjustments: - (585,977)
Add/(Deduct):
Changes in Accounting Policy - (1,297)
Prior Period Errors - (345,765)
Other Adjustments - (238,915)
Restated Balance 15,770,381 12,820,168
Changes in Equity for the Year 648,410 2,950,212

Add/(Deduct):
Surplus/(Deficit) for the period 1,737,642 2,541,405
Dividends - -
Other Adjustments (1,089,232) 408,807
Ending Balance 16,418,791 15,770,381
GOVERNMENT EQUITY
Adjustments: - -
Add/(Deduct):
Prior Period Errors - -
Other Adjustments - -
Changes in Equity for the Year 312,305 38,937

Add/(Deduct):
Government - 4,776
Other Adjustments 312,305 34,161
Ending Balance 14,640,107 14,327,802
CONTRIBUTED CAPITAL
Beginning balance 185,576 185,576
Adjustments: - -
Add/(Deduct):
Restated Balance 185,576 185,576
Changes in Equity for the Year 1,452,762 -

Add/(Deduct):
Government 1,452,762 -
Ending Balance 1,638,338 185,576
REVALUATION SURPLUS
Adjustments: - -
Add/(Deduct):
Changes in Equity for the Year (226,740) -

Add/(Deduct):
the Year - -
384
(in thousand pesos)

Other Services
2017 2016
(Restated)
Other Adjustments (226,740) -

Ending Balance 7,463,806 7,690,547
Adjustments: - (726,591)
Add/(Deduct):
Changes in Accounting Policy - -
Prior Period Errors - (83,429)
Other Adjustments - (643,162)
Changes in Equity for the Year 1,567,440 (17,756,543)

Add/(Deduct):
Issuances of Share Capital - -
Member's Contribution (89,858) (82,106)
Net Income/Loss for the Year 5,805,252 7,883,756
Dividends (2,819,147) (1,401,314)
Other Adjustments (1,328,807) (24,156,878)
Ending Balance 108,442,666 106,875,225
STOCKHOLDERS' EQUITY 409,431 409,431
SHARE CAPITAL
Adjustments: - -
Add/(Deduct):
Changes in Equity for the Year - -

Add/(Deduct):
Ending Balance 409,431 409,431
SHARE PREMIUM
Beginning balance - -
Add/(Deduct):
Ending Balance - -

Add/(Deduct):
Government - -
Ending Balance - -
TREASURY SHARES
Add/(Deduct):
Ending Balance - -
385
(in thousand pesos)

Other Services
2017 2016
(Restated)

Add/(Deduct):
Ending Balance - -

Add/(Deduct):
the Year - -
Ending Balance - -

OF INVESTMENTS
Adjustments: - -
Add/(Deduct):
Changes in Equity for the Year (35) 2,574

Add/(Deduct):
sale securities (35) 2,574
MEMBERS' EQUITY
Adjustments: - -
Add/(Deduct):
Restated Balance - -

Add/(Deduct):
Member's Contribution - -
Dividends - -
Ending Balance - -
Total Equity 149,022,345 145,268,202
386
(in thousand pesos)
Cluster 2 - Social Security

Total Cluster 1 - Banking and Credit
Services and Housing
2017 2016 2017 2016 2017 2016
Cash Inflows
Proceeds from Sale of Goods and Services 24,928,079 21,856,523 - - 28,557 29,054
Collection of Income/Revenue 837,438,493 776,618,090 179,049,984 160,297,125 320,858,363 296,225,797
Receipt of Assistance/Subsidy 122,660,432 106,189,753 47,574 93,268 21,244,199 12,400,464
Collection of Receivables 371,219,862 354,706,495 218,798,319 210,184,172 61,498,004 57,594,310
Receipt of Inter-Agency Fund Transfers 14,310,774 14,444,334 - - 2,347,167 3,120,995
Receipt of Intra-Agency Fund Transfers 27,936,386 40,858,331 56,033 - 1,031 1,249
Trust Receipts 32,736,648 25,639,688 195,489 24,118 1,016,744 642,968
Other Receipts 397,214,203 347,711,126 385,166,588 337,177,633 2,923,312 1,943,483
Total Cash Inflows 1,828,444,877 1,688,024,339 783,313,987 707,776,315 409,917,377 371,958,321
Adjustments 2,177,813 4,175,134 1,230,465 2,499,219 51,693 167,490
Adjusted Cash Inflows 1,830,622,690 1,692,199,474 784,544,452 710,275,534 409,969,070 372,125,811
Cash Outflows
Payment of Expenses 355,853,551 356,404,640 88,791,791 95,360,330 22,631,452 22,937,660
Purchase of Inventories 14,163,411 15,461,056 39,225 41,754 318,847 307,506
Grant of Cash Advances 2,958,400 3,236,480 146,720 122,721 2,434 8,104
Prepayments 21,420,763 19,124,926 22,390 22,504 14,362,025 15,357,756
Refund of Deposits 3,780,971 4,883,207 1,371,999 2,233,205 18,040 368
Payments of Accounts Payable 151,922,920 141,966,974 28,267,092 26,417,921 97,278,914 88,099,842
Remittance of Personnel Benefit Contributions
and Mandatory Deductions 41,773,301 39,977,364 142,376 113,731 12,949,628 13,588,759
Grant of Financial Assistance/Subsidy/
Contribution 41,840,381 39,083,443 56,504 2,050 52,885 92,062
Release of Inter-Agency Fund Transfers 6,202,531 9,018,468 121,379 - 18,260 19,622
Release of Intra-Agency Fund Transfers 32,842,333 40,460,363 - 2,324 - -
Release of Loans (Financial Institutions) 323,013,751 308,176,600 234,655,607 226,111,499 88,358,145 82,064,576
Other Disbursements 481,023,472 456,405,241 258,803,660 279,865,365 181,238,491 139,867,310
Total Cash Outflows 1,476,795,787 1,434,198,761 612,418,742 630,293,402 417,229,121 362,343,566
Adjustments 1,454,838 1,269,505 1,976 - 275,290 298,122
Adjusted Cash Outflows 1,478,250,625 1,435,468,266 612,420,717 630,293,402 417,504,410 362,641,687

Operating Activities 352,372,065 256,731,208 172,123,735 79,982,132 (7,535,341) 9,484,124
Cash Inflows
Proceeds from Sale/ Disposal of
Investment Property 1,175,460 1,221,022 584,528 549,248 586,551 652,312
Proceeds from Sale/Disposal of Property,
Plant and Equipment 2,993,249 1,375,357 165,362 90,349 2,409 6,337
Sale of Investments 237,911,424 122,281,753 167,905,145 31,598,147 43,463,378 59,636,012
Receipt of Interest Earned 48,887,796 44,790,478 41,034 32,714 47,352,750 43,266,009
Receipt of Cash Dividends 6,163,529 6,998,543 1,582,906 1,943,450 3,679,531 3,426,107
Proceeds from Matured Investments/
Redemption of Long-term Investments/
Return on Investments 341,807,904 351,429,528 99,704,449 80,969,780 205,714,690 250,505,218
Collection of Long-Term Loans 127,062,365 116,470,691 11,679 6,169 126,809,892 115,137,544
Proceeds from Sale of Other Assets 14,526 207,886 - - 859 -
Total Cash Inflows 766,016,252 644,775,257 269,995,103 115,189,858 427,610,061 472,629,540
Adjustments (Please specify) 25,526,262 24,345,189 21,768,516 23,951,190 3,026,996 7
Adjusted Cash Inflows 791,542,514 669,120,446 291,763,618 139,141,048 430,637,057 472,629,547
Cash Outflows
Purchase/Construction of Investment Property 344,479 800,457 134,917 137,846 1,062 2,501
Purchase/Construction of Property, Plant
and Equipment 55,256,535 70,917,562 7,792,378 2,382,018 899,773 1,730,409
Purchase/Acquisition of Investments 799,299,696 752,072,278 423,213,332 321,805,158 285,903,588 389,841,724
387
(in thousand pesos)
Cluster 2 - Social Security

Total Cluster 1 - Banking and Credit
Services and Housing
2017 2016 2017 2016 2017 2016
Purchase of Bearer/Consumable
Biological Assets 21,584 156,217 - - - -
Purchase of Intangible Assets 237,234 335,377 126,896 181,169 54,640 136,175
Grant of Loans 132,960,966 143,021,106 - - 132,410,372 142,574,585
Total Cash Outflows 988,120,495 967,302,997 431,267,523 324,506,190 419,269,436 534,285,395
Adjustments (Please specify) 2,405,359 13,508,215 5,000 5,959,890 1,277,871 5,079,746
Adjusted Cash Outflows 990,525,854 980,811,212 431,272,523 330,466,080 420,547,307 539,365,141

Investing Activities (198,983,340) (311,690,767) (139,508,905) (191,325,032) 10,089,750 (66,735,594)
Cash Inflows
Proceeds from Incurrence of
Financial Liabilities 907,305,920 954,431,958 907,298,865 954,409,108 - -
Proceeds from Issuance of Bonds and
Acceptances Payable 201,735 464,199 35 4,472 - 435,290
Proceeds from Domestic and Foreign Loans 189,430,245 179,644,249 148,796,350 167,330,926 972,183 1,010,869
Equity/Contribution from National Government 45,476,745 73,612,381 - - 36,107,447 37,248,539
Proceeds from Issuance of Capital Stock and
other Equity Securities 3,475,890 11,907,444 3,463,137 11,872,029 12,750 11,246
Total Cash Inflows 1,145,890,534 1,220,060,231 1,059,558,388 1,133,616,535 37,092,380 38,705,943
Adjustments (Please specify) 145,266 3,813,581 56,425 3,753,090 - -
Adjusted Cash Inflows 1,146,035,800 1,223,873,812 1,059,614,813 1,137,369,625 37,092,380 38,705,943
Cash Outflows
Payment of Long-Term Liabilities 1,007,413,801 1,080,945,976 916,113,786 1,012,791,019 2,486,302 1,387,152
Redemption of Bonds Issued and Unsecured
Subordinated Debt/Payment of
Acceptances Payable 21,524,005 38,959,418 - - 135,170 230,855
Payment for Reacquisition of Capital Stock
and Other Equity Securities 11,175,723 17,907,575 - 5,650,000 10,563,353 11,987,998
Payment of Interest on Loans and Other
Financial Charges 24,941,412 27,936,630 - - 545,985 458,992
Payment of Cash Dividends 26,308,794 27,558,723 11,965,275 11,392,059 530,524 518,551
Total Cash Outflows 1,091,363,734 1,193,308,322 928,079,061 1,029,833,078 14,261,335 14,583,549
Adjustments (Please specify) 14,806,531 8,048,758 6,093,565 - 20,174 83,717
Adjusted Cash Outflows 1,106,170,266 1,201,357,081 934,172,626 1,029,833,078 14,281,509 14,667,266

Financing Activities 39,865,535 22,516,731 125,442,187 107,536,547 22,810,871 24,038,678

CASH EQUIVALENTS 193,254,260 (32,442,828) 158,057,017 (3,806,353) 25,365,280 (33,212,792)

Cash Equivalents 25,126,035 160,416,749 25,106,743 159,488,639 51,068 21,520
CASH AND CASH EQUIVALENTS, JANUARY 1 1,236,945,299 1,108,971,378 975,202,305 819,520,020 52,572,741 85,764,013
CASH AND CASH EQUIVALENTS, DECEMBER 31 1,455,325,594 1,236,945,299 1,158,366,066 975,202,305 77,989,089 52,572,741
388
(in thousand pesos)

2017 2016 2017 2016 2017 2016
Cash Inflows
Proceeds from Sale of Goods and Services 10,655,880 7,461,607 6,692,210 6,419,490 14,982 11,858
Receipt of Assistance/Subsidy 4,941,681 7,097,937 1,012,967 843,562 42,613,974 31,240,032
Receipt of Inter-Agency Fund Transfers 128,401 1,977,806 7,676,345 1,980,818 3,073,820 3,005,893
Receipt of Intra-Agency Fund Transfers 788,618 913,964 490,542 674,810 26,407,699 39,113,108
Trust Receipts 12,250,990 8,304,842 5,986,712 6,187,974 1,032,940 2,279,775
Other Receipts 7,322,051 4,774,234 273,019 1,253,675 976,193 1,231,819
Adjustments 266,045 216,632 63,731 83,588 44,663 68,296
Cash Outflows
Purchase of Inventories 5,341,653 4,786,784 121,995 195,382 685,248 2,121,558
Grant of Cash Advances 600,544 658,886 1,693,037 2,046,833 387,042 307,276
Prepayments 3,912,046 2,410,459 113,990 58,162 2,770,362 1,160,230
Refund of Deposits 84,689 89,765 2,176,727 2,421,195 106,665 105,346
and Mandatory Deductions 5,846,706 6,829,193 2,355,517 1,639,739 3,027,889 2,372,742
Contribution 5,192,950 3,808,779 852,042 518,201 - 58,812
Release of Inter-Agency Fund Transfers 2,532,269 2,864,463 1,666,621 1,485,018 1,419,254 3,846,437
Release of Intra-Agency Fund Transfers 5,549,038 1,730,393 307,689 449,930 26,960,502 38,277,706
Release of Loans (Financial Institutions) - 526 - -
Other Disbursements 15,660,683 11,648,031 7,866,930 7,056,722 491,142 608,082
Adjustments 226,481 726,776 760,831 108,546 24,158 22,704

Operating Activities 83,292,814 84,482,964 30,829,028 23,400,707 45,717,815 47,785,521
Cash Inflows
Investment Property 2,591 18,047 1,790 1,318 - 97
Plant and Equipment 182,095 94,091 560,300 111,022 2,082,329 1,073,554
Sale of Investments 238,744 1,196,785 23,940,073 28,179,952 1,312,431 1,470,149
Receipt of Interest Earned 562,445 407,129 685,330 920,030 100,704 63,748
Receipt of Cash Dividends 139,468 434,041 759,713 1,190,512 1,770 4,432
Return on Investments 15,348,763 1,519,488 11,472,245 8,008,953 1,000 -
Collection of Long-Term Loans 111,423 858,165 18,781 344,752 110,589 124,060
Proceeds from Sale of Other Assets 8,391 19,876 4,721 187,687 125 36
Adjustments (Please specify) 618,331 391,358 30,571 0 - -
Cash Outflows
Purchase/Construction of Investment Property 83,672 580,892 59,045 79,218 - -
and Equipment 11,844,208 12,020,890 7,154,192 30,924,641 22,579,058 20,514,742
Purchase/Acquisition of Investments 20,556,410 3,342,658 54,310,604 30,682,841 4,340,361 2,615,060
389
(in thousand pesos)

2017 2016 2017 2016 2017 2016
Biological Assets - - - - 21,584 156,217
Purchase of Intangible Assets 5,462 2,027 2,922 627 208 -
Grant of Loans 504,725 299,419 1,661 91,185 44,209 55,916
Adjustments (Please specify) 1,114,232 1,032,273 8,256 15,176 - -

Investing Activities (16,896,456) (12,339,179) (24,063,155) (22,849,463) (23,376,470) (20,605,859)
Cash Inflows
Financial Liabilities 594 1,686 6,461 21,164 - -
Acceptances Payable 58 52 201,642 24,386 - -
Proceeds from Domestic and Foreign Loans 16,864,711 2,752,454 - - 22,797,000 8,550,000
Equity/Contribution from National Government 4,058,458 14,176,570 5,108,640 21,783,272 - -
other Equity Securities - - 2 24,169 - -
Adjustments (Please specify) 86,707 58,918 2,134 1,572 - -
Cash Outflows
Payment of Long-Term Liabilities 49,762,668 33,958,035 3,222,912 3,574,707 34,943,797 27,905,095
Acceptances Payable 21,388,835 38,728,563 - - - -
and Other Equity Securities 38 367 612,332 269,210 - -
Financial Charges 18,948,240 21,091,504 262,609 269,372 5,184,577 6,116,762
Payment of Cash Dividends 4,950,921 4,321,562 7,082,228 8,868,911 273,902 189,942
Adjustments (Please specify) 25,043 24,142 8,667,750 7,940,899 - -

Financing Activities (74,065,217) (81,134,493) (14,528,952) 931,464 (17,605,277) (25,661,799)

CASH EQUIVALENTS (7,668,859) (8,990,709) (7,763,079) 1,482,707 4,736,068 1,517,862

Cash Equivalents (2,957) 101,515 (19,087) 760,486 (871) 12,016
CASH AND CASH EQUIVALENTS, JANUARY 1 78,729,383 87,618,576 45,224,811 42,981,618 17,750,321 16,220,443
CASH AND CASH EQUIVALENTS, DECEMBER 31 71,057,566 78,729,383 37,442,645 45,224,811 22,485,519 17,750,321
390
(in thousand pesos)

Other Services
2017 2016
(Restated)
Cash Inflows
Proceeds from Sale of Goods and Services 7,536,449 7,934,514
Collection of Income/Revenue 163,148,045 144,231,465
Receipt of Assistance/Subsidy 52,800,037 54,514,489
Collection of Receivables 5,110,689 5,520,902
Receipt of Inter-Agency Fund Transfers 1,085,042 4,358,821
Receipt of Intra-Agency Fund Transfers 192,465 155,200
Trust Receipts 12,253,773 8,200,011
Other Receipts 553,039 1,330,281
Adjustments 521,216 1,139,909
Cash Outflows
Payment of Expenses 124,053,737 126,056,878
Purchase of Inventories 7,656,443 8,008,072
Grant of Cash Advances 128,624 92,661
Refund of Deposits 22,851 33,329
Payments of Accounts Payable 12,419,427 13,170,314
and Mandatory Deductions 17,451,186 15,433,199
Contribution 35,686,000 34,603,539
Release of Inter-Agency Fund Transfers 444,747 802,927
Release of Intra-Agency Fund Transfers 25,104 10
Release of Loans (Financial Institutions)
Other Disbursements 16,962,566 17,359,731
Adjustments 166,103 113,358

Operating Activities 27,944,015 11,595,761
Cash Inflows
Investment Property - -
Plant and Equipment 754 4
Sale of Investments 1,051,652 200,708
Receipt of Interest Earned 145,532 100,847
Receipt of Cash Dividends 140 -
Return on Investments 9,566,757 10,426,090
Collection of Long-Term Loans - -
Proceeds from Sale of Other Assets 429 287
Adjustments (Please specify) 81,848 2,633
Cash Outflows
Purchase/Construction of Investment Property 65,783 -
and Equipment 4,986,926 3,344,861
Purchase/Acquisition of Investments 10,975,401 3,784,838
391
(in thousand pesos)

Other Services
2017 2016
(Restated)
Biological Assets - -
Purchase of Intangible Assets 47,107 15,380
Grant of Loans - -
Adjustments (Please specify) - 1,421,130

Investing Activities (5,228,104) 2,164,360
Cash Inflows
Financial Liabilities - -
Acceptances Payable - -
Proceeds from Domestic and Foreign Loans - -
Equity/Contribution from National Government 202,200 404,000
other Equity Securities - -
Total Cash Inflows 202,200 404,000
Adjustments (Please specify) - -
Adjusted Cash Inflows 202,200 404,000
Cash Outflows
Payment of Long-Term Liabilities 884,335 1,329,967
and Other Equity Securities - -
Financial Charges - -
Payment of Cash Dividends 1,505,943 2,267,697

Financing Activities (2,188,078) (3,193,665)

CASH EQUIVALENTS 20,527,833 10,566,457

Cash Equivalents (8,861) 32,572
CASH AND CASH EQUIVALENTS, JANUARY 1 67,465,737 56,866,708
CASH AND CASH EQUIVALENTS, DECEMBER 31 87,984,709 67,465,737
392
(in thousand pesos)
TOTAL
Budgeted Amounts Actual

Difference
Amounts on
Final Budget
Original Final Comparable
and Actual
Basis
RECEIPTS
Gains 326 1,199 1,108,220 (1,107,021)
Others 91,476,688 85,474,215 50,227,722 35,246,493
Total Receipts 387,230,639 377,137,259 249,884,784 127,252,475
PAYMENTS
Maintenance and Other Operating
Expenses 147,653,008 148,708,270 98,337,204 50,371,066
Capital Outlay 156,503,071 156,945,169 42,497,531 114,447,638
Others 85,301,740 84,954,067 47,363,995 37,590,073
Total Payments 477,396,943 477,505,460 267,629,566 209,875,893
393
(in thousand pesos)

Difference
Amounts on
Final Budget
and Actual
Basis
RECEIPTS
Services and Business Income 2,737 2,737 2,721 16
Assistance and Subsidy 115,545 115,545 47,574 67,971
Shares, Grants and Donations 31,000 29,000 7,103 21,897
Gains - - - -
Others - - 1,786 (1,786)
Total Receipts 149,282 147,282 59,183 88,099
PAYMENTS
Personnel Services 44,808 42,066 28,580 13,486
Maintenance and Other Operating Expenses 114,070 110,279 49,641 60,638
Capital Outlay 55,421 55,421 18,834 36,587
Financial Expenses - - 3 (3)
Others - - - -
Total Payments 214,299 207,766 97,058 110,708
NET RECEIPTS/PAYMENTS (65,017) (60,484) (37,875) (22,609)

Difference
Amounts on
Final Budget
and Actual
Basis
RECEIPTS
Services and Business Income 2,416,886 2,471,459 1,520,249 951,210
Shares, Grants and Donations - - - -
Gains - - - -
Others - - 512,151 (512,151)
Total Receipts 93,653,137 93,707,710 21,858,852 71,848,858
PAYMENTS
Personnel Services 1,235,548 1,064,430 768,853 295,577
Maintenance and Other Operating Expenses 1,355,891 973,530 744,935 228,595
Capital Outlay 90,997,786 90,997,786 14,757,966 76,239,820
Financial Expenses - - 185,761 (185,761)
Others - - - -
Total Payments 93,589,225 93,035,746 16,457,515 76,578,231
NET RECEIPTS/PAYMENTS 63,912 671,964 5,401,337 (4,729,373)
394
(in thousand pesos)

Difference
Amounts on
Final Budget
and Actual
Basis
RECEIPTS
Gains - - 1,101,618 (1,101,618)
Others 6,019,276 - - -
Total Receipts 124,028,928 114,721,909 120,908,066 (6,186,156)
PAYMENTS
Maintenance and Other Operating Expenses 126,483,241 128,704,241 84,217,196 44,487,045
Capital Outlay 14,261,315 14,557,509 3,917,942 10,639,567
Others 7,940,288 7,792,615 4,696,913 3,095,702
Total Payments 218,728,835 220,149,445 157,971,566 62,177,879

Difference
Amounts on
Final Budget
and Actual
Basis
RECEIPTS
Services and Business Income 395,785 392,463 433,157 (40,694)
Shares, Grants and Donations - - 16,831 (16,831)
Gains - - 360 (360)
Others 58,159 58,159 3,856 54,303
Total Receipts 839,999 804,415 560,016 244,399
PAYMENTS
Maintenance and Other Operating Expenses 206,161 189,032 189,017 16
Capital Outlay 426,997 394,735 135,871 258,864
Others - - 48,302 (48,302)
Total Payments 815,786 761,319 525,520 235,799
NET RECEIPTS/PAYMENTS 24,213 43,097 34,496 8,601
395
(in thousand pesos)

Difference
Amounts on
Final Budget
and Actual
Basis
RECEIPTS
Services and Business Income 2,092,737 2,054,850 2,256,280 (201,430)
Gains 326 676 3,828 (3,152)
Others 85,288,955 85,305,758 49,576,124 35,729,634
Total Receipts 153,391,946 153,405,239 94,752,626 58,652,614
PAYMENTS
Capital Outlay 47,520,225 47,698,691 22,053,304 25,645,387
Others 77,132,010 76,932,010 42,407,749 34,524,261
Total Payments 148,079,923 148,377,413 81,317,370 67,060,043
NET RECEIPTS/PAYMENTS 5,312,023 5,027,827 13,435,256 (8,407,429)
Cluster 6 - Social, Cultural, Trading, Promotional and Other

Services
Difference
Amounts on
Final Budget
and Actual
Basis
RECEIPTS
Gains - 523 2,414 (1,891)
Others 110,298 110,298 133,805 (23,508)
Total Receipts 15,167,346 14,350,703 11,746,042 2,604,661
PAYMENTS
Personnel Services 4,072,967 3,789,074 3,428,623 360,451
Capital Outlay 3,241,328 3,241,028 1,613,614 1,627,414
Financial Expenses 38,602 38,853 41,289 (2,437)
Others 229,442 229,442 211,030 18,412
Total Payments 15,968,875 14,973,771 11,260,538 3,713,233
NET RECEIPTS/PAYMENTS (801,529) (623,068) 485,504 (1,108,572)
396
BY
GOVERNMENT CORPORATION
STATEMENT OF
FINANCIAL POSITION
Statement of Financial Position
(in thousand pesos)
BSP (includes PICCI

TOTAL GBE
accounts)
2017 2016 2017 2016 2017 2016
ASSETS
Current Assets
Cash and Cash Equivalents 570,535,114 549,266,257 570,450,897 549,079,638 32,471 34,552
Cash on Hand 36,748,630 32,047,740 36,748,510 32,047,610 32,471 34,552
Cash in Bank-Local Currency 401,471,620 444,837,274 401,387,588 444,728,849 - -
Cash in Bank-Foreign Currency 4,921,014 11,333,102 4,921,014 11,333,102 - -
Cash Equivalents 127,393,850 61,048,142 127,393,784 60,970,076 - -
International Reserves 4,056,596,053 3,997,979,588 4,056,596,053 3,997,979,588 4,056,596,053 3,997,979,588

International Reserves 4,056,596,053 3,997,979,588 4,056,596,053 3,997,979,588 4,056,596,053 3,997,979,588

Surplus/Profit or Deficit/Loss 17,202,239 20,769,696 17,202,239 20,769,696 99,983 -
Sale Securities 69,546,127 88,583,571 69,546,127 88,583,571 - -
Other Investments 5,401,974 4,717,526 5,401,974 4,717,526 - -

Sinking Fund 5,347,789 4,707,382 5,347,789 4,707,382 - -
Receivables 743,743,887 598,149,892 743,716,568 598,126,617 70,866,892 31,378,689

Lease Receivables 493,197 601,139 493,197 601,139 - -
Intra-Agency Receivables 105,871 664,178 105,871 664,178 - -
Other Receivables 40,582,750 17,328,593 40,582,611 17,312,599 34,982,769 605,614
Inventories 8,743,545 7,896,418 8,742,471 7,896,121 8,393,678 7,538,346

Inventory Held for Sale 183,224 162,073 183,224 162,073 - -
Inventory Held for Manufacturing 556,162 702,274 556,162 702,274 556,162 702,274
Inventory Held for Consumption 1,789,545 2,135,188 1,788,471 2,134,891 1,622,902 1,939,505
Equipment 14,880 3,851 14,880 3,851 14,880 3,534
Domestic Gold and Silver Inventory 1,330,466 455,262 1,330,466 455,262 1,330,466 455,262
Plant Inventory 4,869,269 4,437,771 4,869,269 4,437,771 4,869,269 4,437,771
Non-Current Assets Held for Sale 695,997 630,901 695,997 630,901 59,556 48,037
Non-Current Assets Held for Sale 695,997 630,901 695,997 630,901 59,556 48,037

Advances 111,298 120,753 111,260 120,753 - -
Prepayments 3,439,971 3,032,037 3,427,807 3,023,361 1,546,494 1,305,959
Deposits 54,779 51,006 53,411 49,594 52,083 47,116
Restricted Fund 283,777 273,756 283,777 273,756 - -
Other Assets 7,547,410 4,362,411 7,547,410 4,362,411 22,440 6,508
Total Current Assets 5,669,319,271 5,463,115,841 5,669,193,090 5,462,895,562 4,309,539,523 4,210,890,755
Non-Current Assets
Non-International Reserves Foreign Assets 91,737,574 87,859,512 91,737,574 87,859,512 91,737,574 87,859,512
Foreign Exchange Receivables 91,711,379 87,833,593 91,711,379 87,833,593 91,711,379 87,833,593
Due from Foreign Banks-Special Accounts 26,195 25,919 26,195 25,919 26,195 25,919

397
(in thousand pesos)
BSP (includes PICCI

TOTAL GBE
accounts)
2017 2016 2017 2016 2017 2016

Sale Securities 233,844,432 272,536,402 233,844,432 272,536,402 - -
Financial Assets-Domestic Investments 599,998 529,732 599,998 529,732 599,998 529,732
Investment Securities at Amortized Cost
152,779,482 134,138,069 152,779,482 134,138,069 - -
Other Comprehensive Income 11,405 37,804 11,405 37,804 - -
Investments in Joint Venture 49,675 49,675 49,675 49,675 - -

Investments in Associates/Affiliates 72,514 119,129 72,514 119,129 - -

Investments in Subsidiaries 2,103,673 2,106,766 2,103,673 2,106,766 - -

Other Investments 39,979,288 38,985,789 39,979,288 38,985,789 20,611 20,631

Sinking Fund 39,879,423 38,881,408 39,879,423 38,881,408 - -
Other Investments 99,865 104,381 99,865 104,381 20,611 20,631
Receivables 398,584,274 366,618,286 398,583,763 366,617,823 167,243,626 167,383,579

Lease Receivables 2,625,454 2,273,379 2,625,454 2,273,379 22,632 37,318
Intra-Agency Receivables 30,629,080 29,961,286 30,629,080 29,961,286 30,629,080 29,961,286

Land 8,086,620 8,066,209 8,086,620 8,066,209 6,572,876 6,541,845
Land Improvements 133,577 82,209 133,577 82,209 133,170 81,693
Infrastructure Assets 632 21 632 21 - -
Transportation Equipment 690,025 286,243 688,757 285,590 501,070 105,486
Furniture, Fixtures and Books 4,497,070 3,913,718 4,496,794 3,913,400 970,292 739,366
Leased Assets 451,359 494,620 451,359 494,620 - -
Leased Assets Improvements 857,314 645,186 848,152 645,186 - -
Other Property, Plant and Equipment 4,305,640 80,700 4,305,640 80,700 4,296,435 78,692
Biological Assets 43 49 43 49 - -
Bearer Biological Assets 43 49 43 49 - -

Deferred Tax Assets 11,427,999 12,320,146 11,427,747 12,320,038 6,147,803 7,194,171

Deferred Tax Assets 11,427,999 12,320,146 11,427,747 12,320,038 6,147,803 7,194,171
Other Non-Current Assets 1,836,093 1,812,055 1,836,038 1,812,001 521,139 519,371

Prepayments 116,852 96,594 116,852 96,594 - -
Deposits 26,867 25,706 26,867 25,706 - -
Other Assets 1,692,373 1,689,755 1,692,319 1,689,701 521,139 519,371
Total Non-Current Assets 1,448,513,072 1,251,244,456 1,448,332,338 1,251,059,888 357,418,431 347,976,021
Total Assets 7,117,832,343 6,714,360,297 7,117,525,428 6,713,955,451 4,666,957,954 4,558,866,775
398
(in thousand pesos)
BSP (includes PICCI

TOTAL GBE
accounts)
2017 2016 2017 2016 2017 2016
LIABILITIES
Current Liabilities

Payables 28,655,151 30,816,924 28,637,447 30,814,340 3,443,249 3,082,110
Bills/Bonds/Loans Payable 33,749,611 50,111,284 33,749,611 50,111,284 - -
Value through Surplus/Profit or
Deficit/Loss 18,893 18,505 18,893 18,505 - -
Financial Liabilities Held for Trading 102,945 198,376 102,945 198,376 102,772 -
Repurchase Agreements 305,057,187 305,057,187 305,057,187 305,057,187 305,057,187 305,057,187
Unsecured Subordinated Debt 9,995,686 9,990,837 9,995,686 9,990,837 - -
Other Financial Liabilities 9,318,514 5,650,659 9,318,514 5,650,659 4,721,685 1,239,910
Deposit Liabilities 2,332,474,522 2,480,515,365 2,332,474,522 2,480,515,365 599,673,115 984,511,842

Deposit Liabilities 2,332,474,522 2,480,515,365 2,332,474,522 2,480,515,365 599,673,115 984,511,842

Due to BSP/Other Banks/Others 60,197,376 56,426,841 60,197,376 56,426,841 59,785,445 56,064,832
Trust Liabilities 15,112,799 15,090,278 15,105,555 15,089,579 - -

Deferred Credits/Unearned Income 1,511,166 1,587,785 1,511,166 1,587,785 - -

Deferred Credits 1 1 1 1 - -
Unearned Revenue/Income 1,511,165 1,587,784 1,511,165 1,587,784 - -
Provisions 20,342 20,158 20,342 20,138 - -

Provisions 20,342 20,158 20,342 20,138 - -
Other Payables 28,628,298 21,829,255 28,627,975 21,829,089 3,005,333 2,580,078

Other Payables 28,628,298 21,829,255 28,627,975 21,829,089 3,005,333 2,580,078
Total Current Liabilities 2,826,807,523 2,979,588,880 2,826,781,139 2,979,581,921 976,866,296 1,353,846,773

Payables 64,413,104 48,968,775 64,413,104 48,968,775 - -
Currency Issued 1,267,482,317 1,124,192,577 1,267,482,317 1,124,192,577 1,267,482,317 1,124,192,577

Currency Issued 1,267,482,317 1,124,192,577 1,267,482,317 1,124,192,577 1,267,482,317 1,124,192,577
Deposit Liabilities 2,043,477,950 1,799,463,444 2,043,477,950 1,799,463,444 1,929,999,574 1,693,218,927

Deposit Liabilities 2,043,477,950 1,799,463,444 2,043,477,950 1,799,463,444 1,929,999,574 1,693,218,927
Inter-Agency Payables 413,151,628 413,578,951 - - - -

Inter-Agency Payables 413,151,628 413,578,951 - - - -
Trust Liabilities 216,880 192,298 216,880 192,298 - -

Deferred Credits/Unearned Income 99,305 96,368 99,305 96,368 - -

Deferred Credits 75 75 75 75 - -
Unearned Revenue/Income 99,230 96,293 99,230 96,293 - -
Provisions 3,279,372 2,758,118 3,279,372 2,758,118 2,998,142 2,499,889

Provisions 3,279,372 2,758,118 3,279,372 2,758,118 2,998,142 2,499,889
399
(in thousand pesos)
BSP (includes PICCI

TOTAL GBE
accounts)
2017 2016 2017 2016 2017 2016
Deferred Tax Liabilities 7,767 9,145 7,767 9,145 7,444 8,769

Deferred Tax Liabilities 7,767 9,145 7,767 9,145 7,444 8,769
Other Payables 385,200,089 303,157,489 385,199,659 303,157,059 383,994,202 302,263,793

Other Payables 385,200,089 303,157,489 385,199,659 303,157,059 383,994,202 302,263,793
Total Non-Current Liabilities 4,309,010,998 3,817,165,520 3,895,858,940 3,403,586,138 3,609,403,145 3,147,008,452
Total Liabilities 7,135,818,520 6,796,754,400 6,722,640,079 6,383,168,059 4,586,269,440 4,500,855,225
NET ASSETS/EQUITY
Government Equity (409,990,694) (410,300,661) 3,000,000 3,000,000 - -

Revaluation Surplus 61,200 61,200 61,200 61,200 - -
Retained Earnings/(Deficit) 300,833,913 243,409,615 300,833,913 243,409,615 32,012,612 10,506,619
Cumulative Changes in Fair Value (1,860,069) (5,349,729) (1,860,069) (5,349,729) (1,324,098) (2,495,068)
Total Net Assets/Equity (17,986,178) (82,394,103) 394,885,349 330,787,391 80,688,514 58,011,551
Total Liabilities and Net Assets/Equity 7,117,832,343 6,714,360,297 7,117,525,428 6,713,955,451 4,666,957,954 4,558,866,775
400
(in thousand pesos)
DBP AAIIBP DBPLC
2017 2016 2017 2016 2017 2016

(Restated) (Restated)
ASSETS
Current Assets
Cash and Cash Equivalents 174,032,327 136,910,861 502,324 416,672 26,107 28,880
Cash on Hand 5,224,876 3,648,329 10,547 13,707 20 20
Cash in Bank-Local Currency 94,920,872 88,139,406 491,777 402,964 23,032 10,231
Cash in Bank-Foreign Currency - - - - - -
Cash Equivalents 73,886,579 45,123,126 - - 3,055 18,628
Financial Assets 70,159,111 80,992,264 3,121 13,530 - -

Financial Assets-Held to Maturity - - 3,121 13,530 - -
Sale Securities 66,470,587 70,175,682 - - - -
Other Investments - - - - - -
Sinking Fund - - - - - -
Receivables 37,342,338 48,725,775 31,995 934 903,215 688,947

Loans and Receivable Accounts 34,611,549 36,003,148 31,727 934 524,718 331,613
Lease Receivables - - 268 - 378,238 341,052
Inter-Agency Receivables - - - - 91 16,114
Intra-Agency Receivables 104,022 657,797 - - - -
Other Receivables 2,626,767 12,064,830 - - 168 168
Inventories - - 1,733 1,914 188 104

Inventory Held for Sale - - - - - -
Inventory Held for Manufacturing - - - - - -
Inventory Held for Consumption - - 1,733 1,914 188 104
Equipment - - - - - -
Plant Inventory - - - - - -
Non-Current Assets Held for Sale 197,274 137,946 - - - -

Other Current Assets 3,059,881 2,757,975 1,087 758 379 115

Advances - - - - - -
Prepayments 961,410 966,565 826 758 337 73
Deposits - - - - 42 42
Restricted Fund - - - - - -
Other Assets 2,098,471 1,791,410 261 - - -
Total Current Assets 284,790,931 269,524,821 540,259 433,809 929,889 718,046
Non-Current Assets

Due from Foreign Banks-Special Accounts - - - - - -
Financial Assets 86,798,846 78,249,078 15,049 3,258 - -

Financial Assets-Held to Maturity 86,798,846 78,249,078 15,049 3,258 - -
401
(in thousand pesos)
DBP AAIIBP DBPLC
2017 2016 2017 2016 2017 2016


Sale Securities - - - - - -
- - - - - -
Investments in Joint Venture 49,675 49,675 - - - -

Investments in Associates/Affiliates 56,514 103,129 - - - -

Investments in Subsidiaries 1,664,898 1,667,991 - - - -

Investments in Subsidiaries 1,664,898 1,667,991 - - - -
Other Investments - - 2,751 2,751 - -

Receivables 211,205,570 178,292,906 169,928 178,944 1,717,592 1,587,403

Loans and Receivable Accounts 211,205,570 178,292,906 120,444 156,655 796,677 652,155
Lease Receivables - - 49,484 22,289 920,455 934,620
Inter-Agency Receivables - - - - - -
Other Receivables - - - - 460 628
Investment Property 1,153,098 1,367,868 - - - -

Land and Buildings 1,153,098 1,367,868 - - - -
Property, Plant and Equipment 2,834,015 2,894,058 4,906 6,440 4,513 4,951
Land 740,664 747,138 - - - -
Land Improvements - - - - - -
Infrastructure Assets - - - - - -
Buildings and Other Structures 587,666 589,478 - - 1,975 2,043
Machinery and Equipment 382,932 401,585 2,448 3,137 1,220 1,217
Transportation Equipment 144,964 138,219 1,428 1,713 745 886
Furniture, Fixtures and Books 417,120 399,055 1,030 1,284 573 805
Leased Assets - - - - - -
Leased Assets Improvements 285,655 173,149 - 306 - -
Other Property, Plant and Equipment - - - - - -
Construction in Progress 275,014 445,434 - - - -
Biological Assets - - - - - -
Bearer Biological Assets - - - - - -
Intangible Assets 463,321 422,443 80 - 1,710 1,354

Intangible Assets 463,321 422,443 80 - 1,710 1,354
Development in Progress - - - - - -
Deferred Tax Assets 2,399,707 2,787,014 - - - 1,017

Deferred Tax Assets 2,399,707 2,787,014 - - - 1,017
Other Non-Current Assets 938,529 923,986 1,228 1,386 16,288 17,479

Prepayments - - - - - -
Deposits - - - - - -
Other Assets 938,529 923,986 1,228 1,386 16,288 17,479
Total Non-Current Assets 307,564,173 266,758,148 193,941 192,779 1,740,103 1,612,205
Total Assets 592,355,104 536,282,969 734,200 626,588 2,669,992 2,330,251
402
(in thousand pesos)
DBP AAIIBP DBPLC
2017 2016 2017 2016 2017 2016

LIABILITIES
Current Liabilities
Financial Liabilities 45,322,862 61,050,947 5,141 517 883,011 757,775

Payables 1,611,390 1,188,243 5,141 517 12,076 7,147
Bills/Bonds/Loans Payable 29,159,643 45,292,652 - - 870,935 750,628
Deficit/Loss - - - - - -
Financial Liabilities Held for Trading 173 198,376 - - - -
Unsecured Subordinated Debt 9,995,686 9,990,837 - - - -
Other Financial Liabilities 4,555,970 4,380,839 - - - -
Deposit Liabilities 311,964,657 262,095,220 463,486 304,622 - -

Deposit Liabilities 311,964,657 262,095,220 463,486 304,622 - -
Inter-Agency Payables 131,946 113,183 3,170 2,341 4,680 1,935

Due to BSP/Other Banks/Others 628 1,634 - - - -
Trust Liabilities - - - - 62,366 32,805

Deferred Credits/Unearned Income 1,508,620 1,587,265 1 1 - -

Deferred Credits - - 1 1 - -
Unearned Revenue/Income 1,508,620 1,587,265 - - - -
Provisions - - 9,409 8,614 - -

Provisions - - 9,409 8,614 - -
Other Payables 1,364,433 1,408,880 969 1,150 8,815 15,748

Other Payables 1,364,433 1,408,880 969 1,150 8,815 15,748
Total Current Liabilities 360,292,518 326,255,495 482,176 317,246 958,871 808,263
Financial Liabilities 82,870,288 70,613,565 - - 399,108 306,044

Payables - - - - - -
Deposit Liabilities 100,399,098 94,147,221 - - - -

Inter-Agency Payables - - - - - -

Deferred Credits/Unearned Income - - - - - -

Deferred Credits - - - - - -
Unearned Revenue/Income - - - - - -
Provisions - - - - - -
403
(in thousand pesos)
DBP AAIIBP DBPLC
2017 2016 2017 2016 2017 2016

Deferred Tax Liabilities - - - - - -

Other Payables 708,357 376,808 13,382 11,604 - -

Other Payables 708,357 376,808 13,382 11,604 - -
Total Non-Current Liabilities 183,977,743 165,137,594 13,382 11,604 606,724 480,392
Total Liabilities 544,270,261 491,393,089 495,558 328,850 1,565,596 1,288,655
NET ASSETS/EQUITY
Government Equity - - - - - -
Revaluation Surplus - - - - - -
Retained Earnings/(Deficit) 36,478,471 33,744,346 (766,599) (707,503) (27,604) (90,404)
Cumulative Changes in Fair Value (5,893,628) (6,354,466) - - - -
Total Net Assets/Equity 48,084,843 44,889,880 238,642 297,738 1,104,396 1,041,596
Total Liabilities and Net Assets/Equity 592,355,104 536,282,969 734,200 626,588 2,669,992 2,330,251
404
(in thousand pesos)
DBPMC DCI LBP
2017 2016 2017 2016 2017 2016

(Restated)
ASSETS
Current Assets
Cash and Cash Equivalents 1,052 48,938 30,762 29,848 394,056,929 410,081,148
Cash on Hand - - 10 10 31,384,485 28,250,784
Cash in Bank-Local Currency 1,052 672 30,752 27,250 305,529,039 355,694,406
Cash in Bank-Foreign Currency - - - - 4,920,641 11,332,375
Cash Equivalents - 48,266 - 2,588 52,222,764 14,803,584
Financial Assets - - - - 16,873,853 29,319,286

Surplus/Profit or Deficit/Loss - - - - 13,366,265 9,904,585
Financial Assets-Held to Maturity - - - - 958,793 1,554,454
Sale Securities - - - - 2,548,795 17,860,247
Other Investments 54,185 10,144 - - - -

Receivables 97 89 112,031 99,992 625,579,454 505,364,172

Loans and Receivable Accounts 97 89 100,946 85,916 625,577,605 505,357,791
Lease Receivables - - - - - -
Intra-Agency Receivables - - - - 1,849 6,381
Other Receivables - - 11,085 14,076 - -
Inventories - - 101 122 85,706 119,016

Inventory Held for Consumption - - 101 122 85,706 119,016
Non-Current Assets Held for Sale - - - - 321,981 258,660

Non-Current Assets Held for Sale - - - - 321,981 258,660
Other Current Assets - - 7,410 3,500 6,399,972 3,380,302

Advances - - 136 233 110,683 120,396
Prepayments - - 7,274 3,266 863,054 695,566
Other Assets - - - - 5,426,234 2,564,340
Total Current Assets 55,333 59,170 150,305 133,461 1,043,317,895 948,522,584
Non-Current Assets

Financial Assets 57 88 - - 550,009,559 422,910,058

Financial Assets-Held to Maturity - - - - 316,165,184 150,373,744
405
(in thousand pesos)
DBPMC DCI LBP
2017 2016 2017 2016 2017 2016

(Restated)

Sale Securities 57 88 - - 233,844,375 272,536,314
- - - - - -
Investments in Joint Venture - - - - - -


Investments in Subsidiaries - - - - 438,775 438,775

Other Investments - - 6,988 11,361 19,268 19,313

Receivables - - - - 13,178,220 14,767,863

Loans and Receivable Accounts - - - - 13,178,029 14,767,672
Other Receivables - - - - 191 191
Investment Property - - - - 5,571,611 6,159,908

Land and Buildings - - - - 5,571,611 6,159,908
Property, Plant and Equipment - - 7,443 4,307 7,222,632 6,644,893

Land - - - - 605,085 609,230
Buildings and Other Structures - - - - 2,712,574 2,561,219
Machinery and Equipment - - 4,742 1,323 - -
Transportation Equipment - - 1,059 1,205 9,255 15,602
Furniture, Fixtures and Books - - 1,254 1,188 3,091,141 2,753,576
Leased Assets - - - - 55,927 77,233
Leased Assets Improvements - - 388 591 561,289 469,531
Other Property, Plant and Equipment - - - - 7,793 762
Construction in Progress - - - - 179,569 157,740
Intangible Assets - - 673 550 1,269,755 990,650

Intangible Assets - - 673 550 1,269,755 990,650
Deferred Tax Assets - - 224 224 2,808,808 2,270,590

Deferred Tax Assets - - 224 224 2,808,808 2,270,590
Other Non-Current Assets - - 5,219 1,275 992 992

Prepayments - - 4,254 377 - -
Deposits - - 928 860 - -
Other Assets - - 37 37 992 992
Total Non-Current Assets 16,057 16,088 20,547 17,717 580,519,620 454,203,042
Total Assets 71,390 75,259 170,852 151,178 1,623,837,515 1,402,725,626
406
(in thousand pesos)
DBPMC DCI LBP
2017 2016 2017 2016 2017 2016

(Restated)
LIABILITIES
Current Liabilities
Financial Liabilities - 5,000 56,856 62,746 24,284,396 14,567,545

Payables - 5,000 56,292 61,482 22,384,735 12,519,523
Bills/Bonds/Loans Payable - - - - 1,880,768 2,029,518
Deficit/Loss - - - - 18,893 18,505
Other Financial Liabilities - - 564 1,265 - -
Deposit Liabilities - - - - 1,412,394,077 1,223,880,040

Deposit Liabilities - - - - 1,412,394,077 1,223,880,040
Inter-Agency Payables - - 15,653 8,256 1,031,297 878,501

Inter-Agency Payables - - 15,653 8,256 619,994 518,127
Due to BSP/Other Banks/Others - - - - 411,303 360,374
Trust Liabilities - - 26,506 - 14,984,224 15,025,640

Trust Liabilities - - 26,506 - 14,984,224 15,025,640

Other Payables - - 1,500 1,500 20,986,456 14,679,293

Other Payables - - 1,500 1,500 20,986,456 14,679,293
Total Current Liabilities - 5,000 100,514 72,502 1,473,680,449 1,269,031,019
Financial Liabilities - - - - 22,699,340 28,005,816

Deposit Liabilities - - - - 13,079,279 12,097,295

Deposit Liabilities - - - - 13,079,279 12,097,295
Trust Liabilities - - - - - -
Deferred Credits/Unearned Income - - - - 32,984 36,602

Unearned Revenue/Income - - - - 32,984 36,602
Provisions - - 23,711 27,085 - -

Provisions - - 23,711 27,085 - -
407
(in thousand pesos)
DBPMC DCI LBP
2017 2016 2017 2016 2017 2016

(Restated)

Other Payables - - - - 321,536 369,545

Other Payables - - - - 321,536 369,545
Total Non-Current Liabilities - - 23,711 27,085 36,133,139 40,509,258
Total Liabilities - 5,000 124,225 99,587 1,509,813,588 1,309,540,276
NET ASSETS/EQUITY
Retained Earnings/(Deficit) 26,562 25,399 23,347 31,311 87,529,887 71,748,218
Stockholders' Equity 45,000 45,000 23,280 20,280 21,082,098 17,901,098
Cumulative Changes in Fair Value (171) (140) - - 5,411,941 3,536,033
Total Net Assets/Equity 71,390 70,259 46,627 51,591 114,023,927 93,185,349
Total Liabilities and Net Assets/Equity 71,390 75,259 170,852 151,178 1,623,837,515 1,402,725,626
408
(in thousand pesos)
LBRDC LIBI LLFC
2017 2016 2017 2016 2017 2016
ASSETS
Current Assets
Cash and Cash Equivalents 75,531 118,344 128,649 242,630 41,940 42,511
Cash on Hand 500 500 50 225 45 71
Cash in Bank-Local Currency 7,434 24,765 128,599 241,950 41,895 42,440
Cash in Bank-Foreign Currency - - - 454 - -
Cash Equivalents 67,597 93,079 - - - -
Financial Assets - - - - - -
Surplus/Profit or Deficit/Loss - - - - - -
Financial Assets-Held to Maturity - - - - - -
Receivables 254,450 241,629 81,637 82,850 1,004,991 1,336,282

Loans and Receivable Accounts 223,813 200,894 81,557 82,629 504,011 824,507
Lease Receivables 1,526 2,422 - - 113,165 257,665
Inter-Agency Receivables - - - - 386,963 253,379
Other Receivables 29,112 38,313 80 221 852 731
Inventories 12,935 9,143 88 80 121 138

Inventory Held for Consumption 12,935 8,827 88 80 121 138
Equipment - 317 - - - -
Non-Current Assets Held for Sale 3,658 5,373 - - - 3,012

Non-Current Assets Held for Sale 3,658 5,373 - - - 3,012
Other Current Assets 9,702 10,637 5,459 5,344 13,546 9,427

Advances 436 94 - - - -
Prepayments 9,266 10,543 5,365 5,324 13,546 9,427
Deposits - - 93 20 - -
Other Assets - - - - - -
Total Current Assets 356,276 385,126 215,833 330,904 1,060,598 1,391,369
Non-Current Assets

Financial Assets 151,656 92,656 964,883 797,842 - -

Financial Assets-Held to Maturity 151,656 92,656 - - - -
409
(in thousand pesos)
LBRDC LIBI LLFC
2017 2016 2017 2016 2017 2016

- - 964,883 797,842 - -

Investments in Associates/Affiliates - - - - - -
Investments in Subsidiaries - - - - - -
Other Investments 13 13 - - 16 16
Other Investments 13 13 - - 16 16
Receivables 16,315 15,237 44,748 80,873 2,756,116 2,068,266

Loans and Receivable Accounts 16,315 15,237 43,385 79,510 1,123,233 789,113
Lease Receivables - - - - 1,632,883 1,279,152
Investment Property 101,651 102,771 998 998 5,447 20,107

Land and Buildings 101,651 102,771 998 998 5,447 20,107
Property, Plant and Equipment 17,891 17,759 23,147 23,146 414,608 438,219
Land - - - - - -
Buildings and Other Structures 7,625 7,953 14,973 16,884 24,365 25,622
Machinery and Equipment 4,315 5,285 5,552 4,364 - -
Furniture, Fixtures and Books 503 421 384 411 2,556 2,549
Leased Assets 1,976 - - - 387,614 409,976
Leased Assets Improvements - - - - - -
Construction in Progress - - - - - -
Intangible Assets 1,826 1,853 2,133 2,133 582 353

Intangible Assets 1,826 1,853 - - 582 353
Development in Progress - - 2,133 2,133 - -
Deferred Tax Assets 505 505 3,870 6,818 60,499 55,772

Deferred Tax Assets 505 505 3,870 6,818 60,499 55,772

Prepayments 1,173 1,090 2,003 1,534 - -
Deposits 1,809 1,383 98 78 1,274 1,127
Other Assets (417) 4,372 - - 0 0
Total Non-Current Assets 292,422 237,640 1,041,880 913,421 3,238,542 2,583,860
Total Assets 648,698 622,766 1,257,713 1,244,325 4,299,140 3,975,229
410
(in thousand pesos)
LBRDC LIBI LLFC
2017 2016 2017 2016 2017 2016
LIABILITIES
Current Liabilities
Financial Liabilities 8,388 7,952 219,126 241,745 1,721,663 1,342,763

Payables 6,604 6,019 212,163 234,417 91,765 162,643

Due to BSP/Other Banks/Others - - - - - -

Deferred Credits/Unearned Income 96 - - - - -

Unearned Revenue/Income 96 - - - - -
Provisions 6,667 6,312 4,266 5,212 - -

Provisions 6,667 6,312 4,266 5,212 - -
Other Payables 17,195 28,987 439 1,690 63,203 61,886

Other Payables 17,195 28,987 439 1,690 63,203 61,886
Total Current Liabilities 78,214 91,651 254,594 279,426 1,798,515 1,428,453

Payables - - - - 211,382 121,314
Bills/Bonds/Loans Payable - - - - 792,384 998,434
Trust Liabilities - - 5,010 13,203 - -

Deferred Credits/Unearned Income 75 75 - - - -

Deferred Credits 75 75 - - - -
Provisions - - 7,710 1,577 13,091 8,200

Provisions - - 7,710 1,577 13,091 8,200
411
(in thousand pesos)
LBRDC LIBI LLFC
2017 2016 2017 2016 2017 2016

Other Payables - - - - - -
Total Non-Current Liabilities 75 75 12,719 14,781 1,016,856 1,127,948
Total Liabilities 78,289 91,726 267,313 294,206 2,815,371 2,556,400
NET ASSETS/EQUITY
Revaluation Surplus 61,200 61,200 - - - -
Retained Earnings/(Deficit) 370,834 331,465 690,400 650,119 884,245 819,305
Stockholders' Equity 138,375 138,375 300,000 300,000 599,523 599,523
Cumulative Changes in Fair Value - - - - - -
Total Net Assets/Equity 570,409 531,040 990,400 950,119 1,483,769 1,418,829
Total Liabilities and Net Assets/Equity 648,698 622,766 1,257,713 1,244,325 4,299,140 3,975,229
412
(in thousand pesos)
MSI NFC (Region 1) PDIC
2017 2016 2017 2016 2017 2016

(Restated)
ASSETS
Current Assets
Cash and Cash Equivalents 86,772 59,358 7,096 7,457 1,335,140 960,522
Cash on Hand 40 40 28 7 1,642 1,445
Cash in Bank-Foreign Currency - - - - 373 273
Cash Equivalents - - - - 1,213,789 880,806
Financial Assets 103 104 - - 12,254,884 13,083,191

Sale Securities 103 104 - - - -
Investment Securities at Amortized Cost - - - - 12,254,884 13,083,191
Other Investments - - - - 5,347,789 4,707,382

Sinking Fund - - - - 5,347,789 4,707,382
Receivables 45,480 54,988 47,164 32,381 15,628 2,397

Inter-Agency Receivables - - - - 1,500 -
Other Receivables 194 151 8,783 6,793 443 130
Inventories 45,814 53,457 197,677 168,251 595 1,334

Inventory Held for Sale 45,432 52,463 137,737 109,463 55 147
Inventory Held for Consumption 382 994 59,940 58,788 540 1,187
Non-Current Assets Held for Sale 60 - - - 53,511 136,873

Non-Current Assets Held for Sale 60 - - - 53,511 136,873

Advances - - 5 30 - -
Prepayments 668 1,011 9,255 9,182 10,310 15,687
Deposits 578 1,846 615 570 - -
Restricted Fund - - - - 283,777 273,756
Other Assets - - - - 3 153
Non-Current Assets


413
(in thousand pesos)
2017 2016 2017 2016 2017 2016

(Restated)

- - - - 151,814,599 133,340,227
Other Comprehensive Income - - - - 11,405 37,804

Other Investments 57 57 - - 39,879,423 38,881,408

Sinking Fund - - - - 39,879,423 38,881,408
Other Investments 57 57 - - - -
Receivables 14,766 19,510 7,626 13,642 2,124,623 2,116,631

Loans and Receivable Accounts 14,747 19,500 - 6,008 1,177,721 1,166,767
Inter-Agency Receivables - - 3,980 3,988 943,568 937,567
Other Receivables 19 10 3,646 3,646 3,334 12,297
Investment Property 4,291 4,351 - - 1,297,878 1,018,986

Land and Buildings 4,291 4,351 - - 1,297,878 1,018,986
Land 10,782 10,782 - - 26,206 26,206
Land Improvements 407 516 - - - -
Infrastructure Assets - - 632 21 - -
Machinery and Equipment 2,865 425 17,947 15,804 40,131 41,015
Leased Assets Improvements - 62 12 14 808 1,533
Other Property, Plant and Equipment 265 270 1,147 976 - -
Construction in Progress - - - - 9,316 -
Biological Assets 43 49 - - - -
Bearer Biological Assets 43 49 - - - -
Intangible Assets 95 127 - - 21,698 41,707

Intangible Assets 95 127 - - 21,698 41,707
Deferred Tax Assets - - 3,791 1,433 - -

Other Non-Current Assets - - - - 277,132 248,962

Prepayments - - - - 105,137 77,562
Deposits - - - - 22,758 22,258
Other Assets - - - - 149,237 149,142
Total Non-Current Assets 42,094 45,569 37,912 38,373 195,555,454 175,801,809
Total Assets 221,571 216,333 299,724 256,244 214,857,091 194,983,104
414
(in thousand pesos)
2017 2016 2017 2016 2017 2016

(Restated)
LIABILITIES
Current Liabilities
Financial Liabilities 53,393 62,791 865,987 781,640 134,568 12,930,559

Payables 53,393 62,791 626,072 553,889 134,568 12,930,559
Bills/Bonds/Loans Payable - - 208,367 208,367 - -
Other Financial Liabilities - - 31,548 19,384 - -

Trust Liabilities - - - - 498 2,578

Deferred Credits/Unearned Income - - - - 2,449 519

Unearned Revenue/Income - - - - 2,449 519
Other Payables 6,780 4,686 515 545 3,047,023 2,955,400

Other Payables 6,780 4,686 515 545 3,047,023 2,955,400

Payables - - - - 64,201,722 48,847,461
Bills/Bonds/Loans Payable - - - - - -

Deferred Credits/Unearned Income - - - - 6,315 172

Unearned Revenue/Income - - - - 6,315 172
Provisions - - - - 236,719 221,367

Provisions - - - - 236,719 221,367
415
(in thousand pesos)
2017 2016 2017 2016 2017 2016

(Restated)
Deferred Tax Liabilities - - - - 323 376

Deferred Tax Liabilities - - - - 323 376
Other Payables - - - - 30,224 31,163

Other Payables - - - - 30,224 31,163
Total Non-Current Liabilities - - - - 64,479,557 49,105,285
NET ASSETS/EQUITY
Government Equity - - - - 3,000,000 3,000,000

Retained Earnings/(Deficit) 59,494 45,594 (673,794) (632,596) 144,150,186 126,755,097
Stockholders' Equity 100,000 100,000 104,545 104,545 - -
Total Net Assets/Equity 159,494 145,594 (569,249) (528,051) 147,150,186 129,755,097
Total Liabilities and Net Assets/Equity 221,571 216,333 299,724 256,244 214,857,091 194,983,104
416
(in thousand pesos)
PPSBI Non-GBE CB-BOL
2017 2016 2017 2016 2017 2016

ASSETS
Current Assets
Cash on Hand 93,797 97,920 120 130 10 10
Cash in Bank-Local Currency - - 84,032 108,424 25,396 12,649
Cash Equivalents - - 65 78,065 65 78,065
Financial Assets 904,539 674,960 - - - -

Sale Securities 526,643 547,538 - - - -
Financial Assets-Domestic Investments 330,429 78,892 - - - -
Receivables 7,431,195 10,117,492 27,319 23,275 - 15,850

Loans and Receivable Accounts 4,251,167 5,155,844 5,481 95 - 16
Inter-Agency Receivables 257,672 380,076 21,698 7,185 - -
Other Receivables 2,922,357 4,581,572 139 15,994 - 15,834
Inventories 3,836 4,216 1,074 297 - -

Inventory Held for Consumption 3,836 4,216 1,074 297 - -

Other Current Assets - - 13,570 10,088 - -

Advances - - 38 - - -
Prepayments - - 12,164 8,675 - -
Deposits - - 1,368 1,412 - -
Total Current Assets 8,493,324 10,935,588 126,180 220,278 25,472 106,575
Non-Current Assets

Financial Assets - - 76,421 67,549 882 -

Financial Assets-Held to Maturity - - 76,421 67,549 882 -
417
(in thousand pesos)
2017 2016 2017 2016 2017 2016


- - - - - -


Receivables 104,634 92,969 511 463 - -

Loans and Receivable Accounts 104,634 92,969 - - - -
Other Receivables - - 511 463 - -
Investment Property 215,429 220,189 6,555 26,773 6,555 26,773

Land and Buildings 215,429 220,189 6,555 26,773 6,555 26,773
Property, Plant and Equipment 185,587 196,114 24,362 20,651 - -

Land 131,008 131,008 - - - -
Buildings and Other Structures 27,397 30,218 - - - -
Transportation Equipment 1,199 1,589 1,269 653 - -
Furniture, Fixtures and Books 7,649 9,944 277 319 - -
Leased Assets 5,843 7,412 - - - -
Leased Assets Improvements - - 9,162 - - -
Construction in Progress - - - 4,232 - -

Deferred Tax Assets 2,540 2,495 253 108 - -

Deferred Tax Assets 2,540 2,495 253 108 - -
Other Non-Current Assets 69,571 88,966 54 54 - -

Prepayments 4,285 16,031 - - - -
Other Assets 65,286 72,935 54 54 - -
Total Non-Current Assets 651,159 663,216 180,734 184,568 7,456 26,809
Total Assets 9,144,484 11,598,804 306,914 404,847 32,927 133,384
418
(in thousand pesos)
2017 2016 2017 2016 2017 2016

LIABILITIES
Current Liabilities
Financial Liabilities - 650,000 17,703 2,584 - -

Payables - - 17,703 2,584 - -
Bills/Bonds/Loans Payable - 650,000 - - - -
Other Financial Liabilities - - - - - -

Inter-Agency Payables 6,092 5,452 1,114 3,490 24 50

Trust Liabilities - - 7,244 699 225 225

Trust Liabilities - - 7,244 699 225 225

Provisions - - - 20 - -
Provisions - - - 20 - -
Other Payables 125,315 89,246 322 166 320 164

Other Payables 125,315 89,246 322 166 320 164
Total Current Liabilities 8,110,594 10,468,339 26,383 6,959 569 440
Financial Liabilities - - - - - -
Inter-Agency Payables - - 413,151,628 413,578,951 413,151,628 413,578,951

Inter-Agency Payables - - 413,151,628 413,578,951 413,151,628 413,578,951
Deferred Credits/Unearned Income 59,930 59,520 - - - -

Unearned Revenue/Income 59,930 59,520 - - - -
419
(in thousand pesos)
2017 2016 2017 2016 2017 2016


Other Payables 131,958 104,145 431 431 - -

Other Payables 131,958 104,145 431 431 - -
Total Non-Current Liabilities 191,888 163,665 413,152,058 413,579,382 413,151,628 413,578,951
Total Liabilities 8,302,482 10,632,004 413,178,441 413,586,341 413,152,197 413,579,391
NET ASSETS/EQUITY
Government Equity - - (412,990,694) (413,300,661) (413,119,270) (413,446,007)

Retained Earnings/(Deficit) 75,872 182,645 - - - -
Cumulative Changes in Fair Value (54,113) (36,088) - - - -
Total Net Assets/Equity 842,002 966,800 (412,871,527) (413,181,494) (413,119,270) (413,446,007)
Total Liabilities and Net Assets/Equity 9,144,484 11,598,804 306,914 404,847 32,927 133,384
420
(in thousand pesos)
CIC LCDFI
2017 2016 2017 2016
ASSETS
Current Assets
Cash and Cash Equivalents 52,441 64,789 6,305 31,106

Cash on Hand 100 100 10 20
Cash in Bank-Local Currency 52,341 64,689 6,295 31,086
Cash in Bank-Foreign Currency - - - -
Cash Equivalents - - - -
International Reserves - - - -
International Reserves - - - -
Financial Assets - - - -
Surplus/Profit or Deficit/Loss - - - -
Financial Assets-Held to Maturity - - - -
Sale Securities - - - -
Financial Assets-Domestic Investments - - - -
Investment Securities at Amortized Cost - - - -
Other Investments - - - -
Sinking Fund - - - -
Receivables 5,423 23 21,896 7,401

Loans and Receivable Accounts 5,357 - 124 79
Lease Receivables - - - -
Inter-Agency Receivables - - 21,698 7,185
Intra-Agency Receivables - - - -
Other Receivables 66 23 73 137
Inventories 1,065 297 9 -

Inventory Held for Sale - - - -
Inventory Held for Manufacturing - - - -
Inventory Held for Consumption 1,065 297 9 -
Equipment - - - -
Domestic Gold and Silver Inventory - - - -
Plant Inventory - - - -
Non-Current Assets Held for Sale - - - -

Other Current Assets 13,532 10,069 38 19

Advances - - 38 -
Prepayments 12,164 8,675 - -
Deposits 1,368 1,393 - 19
Restricted Fund - - - -
Other Assets - - - -
Total Current Assets 72,461 75,178 28,247 38,525
Non-Current Assets
Non-International Reserves Foreign Assets - - - -

Foreign Exchange Receivables - - - -
Due from Foreign Banks-Special Accounts - - - -
Financial Assets - - 75,539 67,549

Financial Assets-Held to Maturity - - 75,539 67,549
421
(in thousand pesos)
CIC LCDFI
2017 2016 2017 2016

Financial Assets-Domestic Investments - - - -
- - - -
Other Comprehensive Income - - - -
Investments in Joint Venture - - - -

Investments in Associates/Affiliates - - - -
Investments in Subsidiaries - - - -
Receivables - - 511 463

Loans and Receivable Accounts - - - -
Inter-Agency Receivables - - - -
Other Receivables - - 511 463
Investment Property - - - -
Land and Buildings - - - -
Property, Plant and Equipment 23,674 19,998 688 653

Land - - - -
Land Improvements - - - -
Infrastructure Assets - - - -
Buildings and Other Structures - - - -
Machinery and Equipment 13,054 14,882 600 565
Transportation Equipment 1,180 565 88 88
Furniture, Fixtures and Books 277 319 - -
Leased Assets - - - -
Leased Assets Improvements 9,162 - - -
Construction in Progress - 4,232 - -
Biological Assets - - - -
Bearer Biological Assets - - - -
Intangible Assets 72,560 68,934 - -

Intangible Assets 72,560 68,934 - -
Development in Progress - - - -
Deferred Tax Assets 253 108 - -

Deferred Tax Assets 253 108 - -
Other Non-Current Assets - - 54 54

Prepayments - - - -
Deposits - - - -
Other Assets - - 54 54
Total Non-Current Assets 96,486 89,040 76,793 68,719
Total Assets 168,947 164,218 105,040 107,244
422
(in thousand pesos)
CIC LCDFI
2017 2016 2017 2016
LIABILITIES
Current Liabilities
Financial Liabilities 16,288 1,633 1,415 951

Payables 16,288 1,633 1,415 951
Bills/Bonds/Loans Payable - - - -
Deficit/Loss - - - -
Financial Liabilities Held for Trading - - - -
Repurchase Agreements - - - -
Unsecured Subordinated Debt - - - -
Other Financial Liabilities - - - -
Deposit Liabilities - - - -
Inter-Agency Payables 961 1,264 129 2,176

Inter-Agency Payables 961 1,264 129 2,176
Due to BSP/Other Banks/Others - - - -
Trust Liabilities 7,018 474 - -

Trust Liabilities 7,018 474 - -
Deferred Credits/Unearned Income - - - -

Deferred Credits - - - -
Unearned Revenue/Income - - - -
Provisions - - - 20
Provisions - - - 20
Other Payables - - 2 2
Total Current Liabilities 24,268 3,371 1,546 3,149
Financial Liabilities - - - -
Payables - - - -
Currency Issued - - - -
Currency Issued - - - -
Inter-Agency Payables - - - -
Trust Liabilities - - - -
Deferred Credits/Unearned Income - - - -

Deferred Credits - - - -
Provisions - - - -
Provisions - - - -
423
(in thousand pesos)
CIC LCDFI
2017 2016 2017 2016
Deferred Tax Liabilities - - - -


Total Non-Current Liabilities - - 431 431
Total Liabilities 24,268 3,371 1,977 3,579
NET ASSETS/EQUITY
Government Equity 25,513 41,680 103,063 103,665

Revaluation Surplus - - - -
Retained Earnings/(Deficit) - - - -
Stockholders' Equity 119,167 119,167 - -
Cumulative Changes in Fair Value - - - -
Total Net Assets/Equity 144,679 160,847 103,063 103,665
Total Liabilities and Net Assets/Equity 168,947 164,218 105,040 107,244

424
(in thousand pesos)
TOTAL GBE AFPRSBS

2017 2016 2017 2016 2017 2016
ASSETS
Current Assets
Cash on Hand 1,423,306 1,318,991 1,411,662 1,312,344 558 566
Cash in Bank-Local Currency 23,502,590 14,910,346 12,531,313 9,333,096 38,199 59,226
Cash in Bank-Foreign Currency 4,348,951 2,595,041 4,348,951 2,595,041 - -
Financial Assets 715,259,013 624,324,482 715,259,013 624,324,482 60,898 -

Surplus/Profit or Deficit/Loss 708,322,745 615,295,048 708,322,745 615,295,048 - -
Financial Assets-Held to Maturity 6,936,268 9,029,435 6,936,268 9,029,435 60,898 -

Investments in Time Deposits 14,796,381 34,245,840 14,124,765 33,833,886 840,492 755,042
Receivables 245,064,962 228,428,968 237,013,332 221,116,066 869,508 896,826

Lease Receivables 257,418 252,447 257,418 252,447 118,458 96,607
Inter-Agency Receivables 3,403,979 2,515,562 644,013 150,624 - -
Other Receivables 2,361,132 1,683,719 2,306,929 1,626,163 - -
Inventories 43,973,338 22,868,151 307,979 383,982 1,240 917

Inventory Held for Sale 33,267,550 22,474,196 652 569 - -
Inventory Held for Distribution 554,797 - - - - -
Inventory Held for Manufacturing 9,831,923 - - - - -
Inventory Held for Consumption 310,589 390,388 298,848 379,846 1,240 917
Semi-Expendable Machinery
and Equipment 6,739 3,564 6,739 3,564 - -
and Books 1,739 3 1,739 3 - -
Non-Current Assets Held for Sale 16,752,931 13,439,828 16,752,931 13,439,828 - -

Non-Current Assets Held for Sale 16,752,931 13,439,828 16,752,931 13,439,828 - -
Other Current Assets 3,768,143 4,035,737 700,217 737,303 35,918 32,756

Advances 68,942 59,415 8,012 5,334 - -
Prepayments 3,670,813 3,879,967 663,829 635,626 35,918 32,756
Deposits 26,232 25,355 26,229 25,352 - -
Other Assets 2,157 71,000 2,147 70,990 - -
Total Current Assets 1,117,603,856 979,915,749 1,050,491,138 939,396,841 1,849,813 2,274,333
Non-Current Assets

Sale Securities 161,044,661 162,237,181 161,044,661 162,237,181 - -
Other Comprehensive Income 821,323 823,826 821,323 823,826 15,036 18,928
Investments in Joint Venture 5,633,991 6,535,031 297,015 325,372 282,543 310,900

Investments in Joint Venture 5,633,991 6,535,031 297,015 325,372 282,543 310,900


Sinking Fund 850,055 769,480 850,055 769,480 - -
Investments in Time Deposits 392,695 223,943 392,695 223,943 2,991 2,991
425
(in thousand pesos)
TOTAL GBE AFPRSBS

2017 2016 2017 2016 2017 2016
Receivables 671,647,702 630,633,830 615,338,579 575,304,955 784,394 844,918

Inter-Agency Receivables 1,491,775 1,435,356 1,196,164 1,195,514 17,504 17,234
Other Receivables 1,983,588 2,773,475 1,983,588 2,773,475 383 806

Property, Plant and Equipment 19,723,835 30,585,836 17,948,633 18,367,599 32,687 33,876
Land 12,587,370 13,835,011 11,321,345 11,321,370 - -
Land Improvements 61,655 61,979 46,763 49,140 - -
Infrastructure Assets 7,091 8,687 7,091 8,687 - -
Buildings and Other Structures 3,360,580 4,071,015 3,226,854 3,490,023 9,143 9,143
Machinery and Equipment 2,141,877 2,328,453 1,965,292 2,159,917 19,346 20,487
Furniture, Fixtures and Books 237,320 253,435 233,408 249,266 3,327 3,375
Leased Assets 73,321 53,644 73,321 53,644 - -
Heritage Assets 659,343 659,343 659,343 659,343 - -
Other Property, Plant and Equipment 10,961 10,225 9,791 8,938 - -
Construction in Progress 229,687 9,011,065 91,186 118,330 - -
Intangible Assets 686,635 768,159 686,635 768,159 - -

Deferred Tax Assets 523,607 467,017 523,607 467,017 - -


Prepayments 24,333 24,330 7,189 7,186 - -
Deposits 339,969 321,090 252,942 234,272 - -
Restricted Fund 7,153,849 5,912,728 1,844,909 2,207,982 - -
Other Assets 8,438,506 8,023,540 7,607,007 7,826,172 463,240 466,422
Total Non-Current Assets 1,254,459,646 1,200,371,097 1,184,486,767 1,122,608,044 14,453,840 14,477,959
Total Assets 2,372,063,503 2,180,286,846 2,234,977,906 2,062,004,884 16,303,653 16,752,292
LIABILITIES
Current Liabilities

Payables 58,020,473 55,993,470 57,710,023 55,760,628 1,258,672 1,357,142
Bills/Bonds/Loans Payable 946,805 1,075,392 946,805 980,113 - -
Tax Refunds Payable 1,217 1,899 912 1,568 - -
Deficit/Loss 3,504,897 6,360,823 3,504,897 6,360,823 - -
Other Financial Liabilities - 7,220 - - - -
Inter-Agency Payables 5,697,044 4,728,101 1,537,657 689,715 7,026 6,808

Inter-Agency Payables 5,697,044 4,728,101 1,537,657 689,715 7,026 6,808
Intra-Agency Payables 617,347 600,209 617,347 600,209 - -


426
(in thousand pesos)
TOTAL GBE AFPRSBS

2017 2016 2017 2016 2017 2016

Deferred Credits 300,418 672,342 297,897 665,504 - -
Provisions 656,108 605,086 656,108 605,086 - -

Provisions 656,108 605,086 656,108 605,086 - -
Other Payables 13,369,085 12,737,902 13,065,150 12,433,610 - -

Other Payables 13,369,085 12,737,902 13,065,150 12,433,610 - -

Payables 127,537 192,542 127,537 192,542 - -
Inter-Agency Payables 10,930,581 12,017,424 10,930,581 12,017,424 - -


Deferred Credits/Unearned Income 26,664,410 31,068,289 22,071,402 25,874,812 136,880 137,873

Deferred Credits 19,415,327 20,893,590 14,822,318 15,700,114 10,316 10,593
Provisions 2,331,333 2,166,965 1,609,974 1,742,962 - -

Provisions 2,331,333 2,166,965 1,609,974 1,742,962 - -
Deferred Tax Liabilities 733,224 651 733,224 651 - -

Deferred Tax Liabilities 733,224 651 733,224 651 - -
Other Payables 13,263,422 14,036,435 13,059,392 13,840,103 13,009,392 13,790,103

Other Payables 13,263,422 14,036,435 13,059,392 13,840,103 13,009,392 13,790,103
NET ASSETS/EQUITY
Government Equity 125,281,361 105,881,248 5,823,345 4,596,645 200,000 200,000

Revaluation Surplus 12,741,161 13,463,393 12,741,161 13,463,393 - -
Retained Earnings/(Deficit) 1,659,338,149 1,533,213,436 1,659,338,149 1,533,213,436 1,394,479 987,484
Stockholders' Equity 23,054,312 22,554,312 23,054,312 22,554,312 - -
Cumulative Translation Adjustment (122,302) (57,416) (122,302) (57,416) - -
Cumulative Changes in Fair Value (13,552,500) (16,996,571) (13,552,500) (16,996,571) 13,058 10,732
Members’ Equity 362,210,007 318,372,760 362,210,007 318,372,760 - -
Total Net Assets/Equity 2,168,950,188 1,976,431,161 2,049,492,172 1,875,146,558 1,607,537 1,198,216
Total Liabilities and Net Assets/Equity 2,372,063,503 2,180,286,846 2,234,977,906 2,062,004,884 16,303,653 16,752,292
427
(in thousand pesos)
SUMSI GSIS HDMF

2017 2016 2017 2016 2017 2016
ASSETS
Current Assets
Cash and Cash Equivalents 5,569 6,335 25,062,127 15,678,183 8,221,684 4,666,192
Cash on Hand 33 33 361,525 337,434 273,058 259,154
Cash in Bank-Local Currency 5,536 6,302 3,077,286 2,161,921 4,950,400 3,212,834
Cash in Bank-Foreign Currency - - 4,323,315 2,558,827 22,302 32,167
Cash Equivalents - - 17,300,000 10,620,000 2,975,924 1,162,037
Financial Assets 3,533 5,648 691,967,599 606,774,898 - 857,727

Surplus/Profit or Deficit/Loss - - 691,967,599 606,774,898 - 857,727
Other Investments - - 9,102,243 28,000,000 - -

Investments in Time Deposits - - 9,102,243 28,000,000 - -
Receivables 4,751 4,072 101,671,737 99,214,224 124,405,718 109,128,590

Loans and Receivable Accounts 2,954 2,917 100,825,707 101,372,880 124,393,894 109,116,702
Lease Receivables - - 31,821 34,095 - -
Inter-Agency Receivables 1,217 529 - - - -
Other Receivables 580 625 814,208 (2,192,751) 11,824 11,889
Inventories 652 569 9,027 12,394 96,530 101,631

Inventory Held for Sale 652 569 - - - -
Inventory Held for Distribution - - - - - -
Inventory Held for Consumption - - 9,027 12,394 92,185 101,631
and Equipment - - - - 2,633 -
and Books - - - - 1,712 -
Non-Current Assets Held for Sale - - - - 1,900,036 2,299,932

Other Current Assets 3 12 5,051 5,051 136,782 177,201

Prepayments 3 12 3,951 3,951 135,735 107,331
Other Assets - - 1,100 1,100 1,047 69,871
Total Current Assets 14,508 16,635 827,817,784 749,684,750 134,760,750 117,231,273
Non-Current Assets
Financial Assets 14,127 8,213 806,287 804,898 55,860,197 56,554,874

Sale Securities - - - - 55,860,197 56,554,874
Other Comprehensive Income - - 806,287 804,898 - -

Investments in Time Deposits - - - - - -
428
(in thousand pesos)
SUMSI GSIS HDMF

2017 2016 2017 2016 2017 2016
Receivables 166 206 216,601,293 206,985,268 277,209,662 246,874,821

Loans and Receivable Accounts - - 216,120,034 206,361,783 277,209,662 246,874,821
Other Receivables 166 206 481,259 623,485 - -
Investment Property - - 66,271,575 62,830,100 17,330,395 14,802,828

Land and Buildings - - 66,271,575 62,830,100 17,330,395 14,802,828
Property, Plant and Equipment 8,791 10,623 11,636,343 12,046,660 1,392,930 1,306,624
Land 676 676 7,900,392 7,900,392 103,017 103,043
Land Improvements - - 22,010 22,345 456 519
Infrastructure Assets 7,091 8,687 - - - -
Buildings and Other Structures 232 299 2,211,304 2,414,700 409,162 429,693
Machinery and Equipment 563 635 663,994 803,826 510,032 492,176
Transportation Equipment 203 293 97,114 114,609 141,844 62,360
Furniture, Fixtures and Books 24 33 55,410 60,673 155,097 165,189
Leased Assets - - - - 73,321 53,644
Heritage Assets - - 659,343 659,343 - -
Construction in Progress - - 26,776 70,771 - -
Intangible Assets - - 259,409 301,485 169,655 165,412

Intangible Assets - - 259,409 301,485 169,655 165,412
Deferred Tax Assets 977 869 - - - -

Deferred Tax Assets 977 869 - - - -
Other Non-Current Assets 110 132 557,968 556,889 2,020,932 2,365,796

Prepayments - - 5,062 5,062 - -
Deposits 57 78 7,664 6,585 146,991 133,179
Restricted Fund - - - - 1,826,781 2,190,062
Other Assets 54 54 545,242 545,242 47,160 42,555
Total Non-Current Assets 24,170 20,044 296,132,874 283,525,301 353,983,771 322,070,355
Total Assets 38,679 36,679 1,123,950,659 1,033,210,050 488,744,520 439,301,628
LIABILITIES
Current Liabilities
Financial Liabilities 2,440 1,768 14,477,851 17,927,672 33,068,389 31,335,660

Payables 2,440 1,768 10,972,953 11,595,854 33,068,389 31,335,660
Tax Refunds Payable - - - - - -
Deficit/Loss - - 3,504,897 6,331,817 - -
Inter-Agency Payables 816 1,070 70,807 1,165 107,786 99,418

Inter-Agency Payables 816 1,070 70,807 1,165 107,786 99,418
Intra-Agency Payables - - - - - -
Trust Liabilities 113 66 - - 6,688,664 3,948,635

Trust Liabilities 113 66 - - 6,688,664 3,948,635
429
(in thousand pesos)
SUMSI GSIS HDMF

2017 2016 2017 2016 2017 2016
Deferred Credits/Unearned Income 9 26 1,416,393 1,814,895 - -

Deferred Credits - - 14,843 426,822 - -
Unearned Revenue/Income 9 26 1,401,549 1,388,072 - -
Provisions - - 656,108 605,086 - -

Provisions - - 656,108 605,086 - -
Other Payables 4,705 1,020 1,640,736 1,628,014 1,787,629 1,573,588

Other Payables 4,705 1,020 1,640,736 1,628,014 1,787,629 1,573,588
Total Current Liabilities 8,083 3,949 18,261,894 21,976,831 41,652,468 36,957,301
Trust Liabilities - - 769,356 1,025,684 - -

Trust Liabilities - - 769,356 1,025,684 - -
Deferred Credits/Unearned Income - - - - 15,559,059 18,362,030

Deferred Credits - - - - 9,240,004 9,771,540
Unearned Revenue/Income - - - - 6,319,055 8,590,490
Provisions 4,115 3,757 139,200 132,200 - -

Provisions 4,115 3,757 139,200 132,200 - -

Total Non-Current Liabilities 4,115 3,757 908,556 1,157,884 15,559,059 18,362,030
Total Liabilities 12,198 7,706 19,170,451 23,134,715 57,211,527 55,319,331
NET ASSETS/EQUITY
Revaluation Surplus - - 8,176,863 8,176,863 - -
Retained Earnings/(Deficit) 16,481 18,973 1,096,599,644 1,001,898,473 75,430,195 67,536,534
Stockholders' Equity 10,000 10,000 - - - -
Cumulative Translation Adjustment - - - - - -
Cumulative Changes in Fair Value - - 3,701 - (5,333,274) (1,298,544)
Members’ Equity - - - - 361,436,073 317,744,306
Total Net Assets/Equity 26,481 28,973 1,104,780,208 1,010,075,336 431,532,993 383,982,297
Total Liabilities and Net Assets/Equity 38,679 36,679 1,123,950,659 1,033,210,050 488,744,520 439,301,628
430
(in thousand pesos)
HGC NHMFC SHFC

2017 2016 2017 2016 2017 2016
ASSETS
Current Assets
Cash and Cash Equivalents 1,018,815 2,430,722 1,810,939 954,807 2,141,192 2,669,565
Cash on Hand 35,611 1,375 8,165 9,384 7,387 6,676
Cash in Bank-Local Currency 718,533 1,244,457 568,846 48,888 1,031,394 168,396
Cash in Bank-Foreign Currency 2,511 2,502 64 64 - -
Cash Equivalents 262,160 1,182,388 1,233,864 896,470 1,102,411 2,494,492
Financial Assets 1,328 1,328 566,108 - 3,338,353 -

Financial Assets-Held to Maturity 1,328 1,328 566,108 - 3,338,353 -
Other Investments 4,131,670 2,853,798 - - 50,360 2,225,046

Investments in Time Deposits 4,131,670 2,853,798 - - 50,360 2,225,046
Receivables 740,197 1,171,970 1,049,447 593,680 83,413 79,043

Lease Receivables 29,909 35,891 - - - -
Inter-Agency Receivables 53,871 53,871 22,524 22,225 61,367 60,469
Intra-Agency Receivables 345,092 320,941 - - 6,591 4,122
Inventories 301 615 5,727 5,021 2,856 3,012

Inventory Held for Consumption 301 615 2,190 1,493 2,259 2,972
and Equipment - - 3,528 3,528 578 36
and Books - - 9 - 18 3
Non-Current Assets Held for Sale 8,886,565 6,803,030 - - - -

Non-Current Assets Held for Sale 8,886,565 6,803,030 - - - -

Advances - 21 2,084 1,636 3,934 1,006
Prepayments 26,028 17,501 5,088 4,519 418,329 445,752
Deposits - - 23,127 22,836 1,716 1,574
Non-Current Assets
Financial Assets - - 1,739,544 1,431,431 - -

Sale Securities - - 1,739,544 1,431,431 - -

Investments in Subsidiaries - - 14,379,145 13,379,145 - -

Other Investments 1,705,891 1,625,316 184,030 184,030 - -

Sinking Fund 850,055 769,480 - - - -
431
(in thousand pesos)
HGC NHMFC SHFC

2017 2016 2017 2016 2017 2016
Receivables 2,005,830 5,408,181 15,625,295 16,316,751 15,111,508 13,485,494

Loans and Receivable Accounts 644,372 3,863,389 15,625,295 16,316,751 15,111,508 13,485,494
Inter-Agency Receivables 1,177,713 1,177,350 - - - -
Other Receivables 2,100 155,889 - - - -
Investment Property 9,296,727 9,298,576 - - 1,318,742 1,285,324

Land and Buildings 9,296,727 9,298,576 - - 1,318,742 1,285,324
Land - - - - - -
Land Improvements 23,217 24,848 - - - -
Buildings and Other Structures - - - - 128,089 134,871
Leased Assets Improvements - 2,221 4,780 4,593 6,733 7,501
Heritage Assets - - - - - -
Intangible Assets 3,503 4,335 49,379 57,747 860 1,028

Intangible Assets 3,503 4,335 49,379 57,747 860 1,028
Deferred Tax Assets 37,428 98,928 38,445 24,278 44,552 43,045

Deferred Tax Assets 37,428 98,928 38,445 24,278 44,552 43,045

Deposits 19,515 20,858 - - - -
Other Assets 4,336,728 4,294,175 1,292,451 1,529,934 552,128 553,497
Total Non-Current Assets 17,453,705 20,796,064 33,398,704 33,009,681 17,181,012 15,530,336
Total Assets 32,258,608 34,075,049 36,861,225 34,592,180 23,221,166 20,955,334
LIABILITIES
Current Liabilities
Financial Liabilities 472,446 395,519 588,425 501,634 1,165,094 1,401,135

Payables 465,130 389,807 588,034 500,622 1,164,573 1,400,578
Bills/Bonds/Loans Payable 7,316 5,712 - - - -
Tax Refunds Payable - - 391 1,012 521 557


Trust Liabilities 27,139 23,687 804,568 677,452 4,634 4,063

432
(in thousand pesos)
HGC NHMFC SHFC

2017 2016 2017 2016 2017 2016
Deferred Credits/Unearned Income 600,724 603,064 - - 273,232 238,681

Deferred Credits 9,822 - - - 273,232 238,681
Other Payables 5,517,622 5,390,289 1,172,730 1,088,442 1,155,531 1,017,831

Other Payables 5,517,622 5,390,289 1,172,730 1,088,442 1,155,531 1,017,831
Financial Liabilities 7,352 12,284 26,310,715 26,647,671 73,967 89,340

Payables - - - 105,797 - -
Bills/Bonds/Loans Payable 7,352 12,284 26,310,715 26,541,874 73,967 89,340
Inter-Agency Payables 10,463,795 11,463,795 466,786 553,629 - -


Deferred Credits/Unearned Income 919,967 2,275,630 5,042,570 4,659,176 - -

Deferred Credits 596,433 1,255,497 4,972,584 4,659,176 - -
Unearned Revenue/Income 323,534 1,020,133 69,985 - - -
Deferred Tax Liabilities 722,364 129 - - - -

Deferred Tax Liabilities 722,364 129 - - - -
NET ASSETS/EQUITY
Government Equity - - 5,605,405 4,378,705 - -

Revaluation Surplus 1,685,209 2,407,442 - - - -
Retained Earnings/(Deficit) (8,288,937) (8,547,075) (3,799,258) (4,586,214) 5,504,450 4,153,017
Stockholders' Equity 15,073,000 15,073,000 - - 10,000 10,000
Cumulative Changes in Fair Value - 165 (27,102) (19,330) - -
Total Net Assets/Equity 8,469,273 8,933,532 1,779,044 (226,840) 5,514,450 4,163,017
Total Liabilities and Net Assets/Equity 32,258,608 34,075,049 36,861,225 34,592,180 23,221,166 20,955,334
433
(in thousand pesos)
PDGCC SBGFC SSS

2017 2016 2017 2016 2017 2016
(Restated)
ASSETS
Current Assets
Cash and Cash Equivalents 30,041 20,543 1,008,833 251,939 26,821,426 17,830,920
Cash on Hand 5 5 1 7 725,167 697,560
Cash in Bank-Local Currency 30,037 20,539 293,782 62,756 1,810,218 1,885,611
Cash in Bank-Foreign Currency - - 50 36 602 464
Cash Equivalents - - 715,000 189,140 24,285,440 15,247,285
Financial Assets - - 1,783,288 1,483,347 16,847,812 14,724,582

Surplus/Profit or Deficit/Loss - - 34,417 23,042 16,320,728 7,639,380
Financial Assets-Held to Maturity - - 1,748,870 1,460,305 527,084 7,085,201
Receivables 8,563 14,924 3,064,444 2,694,783 4,566,519 7,243,590

Loans and Receivable Accounts - - 3,060,017 2,693,646 3,355,713 3,793,997
Lease Receivables - - - - 74,740 84,016
Inter-Agency Receivables 5,034 13,529 - - - -
Intra-Agency Receivables - - 3,657 366 - -
Other Receivables 3,529 1,395 771 771 1,136,066 3,365,578
Inventories 69 58 513 348 191,279 259,683

Inventory Held for Consumption 69 58 513 348 191,279 259,683
and Equipment - - - - - -
and Books - - - - - -


Advances - - 455 439 1,539 2,232
Prepayments 146 152 22,491 5,217 10,733 15,198
Deposits - - 1,386 942 - -
Other Assets - - - 19 - -
Non-Current Assets

Financial Assets-Held to Maturity - - - - 223,455,742 214,606,667
Sale Securities - - - - 103,444,920 104,250,876
Investments in Joint Venture - - 14,473 14,473 - -

Investments in Joint Venture - - 14,473 14,473 - -

Investments in Time Deposits - - 389,704 220,952 - -
434
(in thousand pesos)
PDGCC SBGFC SSS

2017 2016 2017 2016 2017 2016
(Restated)
Receivables - - - - 87,665,909 85,028,154

Loans and Receivable Accounts - - - - 86,166,228 83,035,065
Lease Receivables - - - - 0 0
Other Receivables - - - - 1,499,681 1,993,090
Investment Property - - - - 30,892,248 22,994,258

Land and Buildings - - - - 30,882,562 22,984,572
Property, Plant and Equipment 473 838 71,242 74,507 4,450,181 4,530,622
Land - - - - 3,317,260 3,317,260
Land Improvements - - - - 1,080 1,428
Buildings and Other Structures - - 53,097 56,453 366,116 392,415
Leased Assets Improvements - - 1,608 1,018 5,635 9,101
Other Property, Plant and Equipment 198 426 1,064 759 - -
Intangible Assets - - - - 203,095 237,253


Other Non-Current Assets 6 23 56,802 64,037 347,749 335,584

Deposits 2 2 - - 78,714 73,569
Other Assets 4 21 56,802 64,037 269,035 262,015
Total Non-Current Assets 478 861 645,861 452,123 450,459,844 431,983,414
Total Assets 39,297 36,539 6,527,269 4,889,157 504,865,483 476,396,485
LIABILITIES
Current Liabilities
Financial Liabilities 55 55 1,680,341 1,585,724 8,115,833 7,354,907

Payables 55 55 1,553,102 1,437,318 8,115,833 7,354,907
Deficit/Loss - - - 29,005 - -
Inter-Agency Payables 264 410 750,098 3,934 178,003 172,210

Intra-Agency Payables - - 3,060 - - -

Intra-Agency Payables - - 3,060 - - -
Trust Liabilities 405 405 3,119 1,585 654,719 605,437

Trust Liabilities 405 405 3,119 1,585 654,719 605,437
435
(in thousand pesos)
PDGCC SBGFC SSS

2017 2016 2017 2016 2017 2016
(Restated)
Deferred Credits/Unearned Income - - 17,214 17,404 122,309 28,113

Unearned Revenue/Income - - 17,214 17,404 122,309 28,113
Other Payables 3,455 4,208 36,704 33,852 1,743,958 1,692,515

Other Payables 3,455 4,208 36,704 33,852 1,743,958 1,692,515
Financial Liabilities - - 1,127,238 1,107,832 37,179 29,688

Payables - - 90,357 57,057 37,179 29,688
Bills/Bonds/Loans Payable - - 1,036,881 1,050,776 - -

Provisions 232 - - - 1,466,427 1,607,005

Provisions 232 - - - 1,466,427 1,607,005
Deferred Tax Liabilities - - 10,325 - - -

Deferred Tax Liabilities - - 10,325 - - -
Other Payables - - - - 50,000 50,000

Other Payables - - - - 50,000 50,000
Total Non-Current Liabilities 232 - 1,137,564 1,107,832 1,963,220 2,123,157
Total Liabilities 4,410 5,078 3,628,099 2,750,331 12,778,043 11,976,338
NET ASSETS/EQUITY
Government Equity 17,940 17,940 - - - -

Revaluation Surplus - - - - 2,879,088 2,879,088
Retained Earnings/(Deficit) 16,947 13,521 1,022,060 196,830 496,595,968 476,562,643
Stockholders' Equity - - 1,999,412 1,999,412 - -
Cumulative Translation Adjustment - - (122,302) (57,416) - -
Cumulative Changes in Fair Value - - - - (8,161,550) (15,650,038)
Members’ Equity - - - - 773,934 628,454
Total Net Assets/Equity 34,887 31,461 2,899,171 2,138,826 492,087,441 464,420,147
436
(in thousand pesos)
TIDCORP Non-GBE ECC

2017 2016 2017 2016 2017 2016
ASSETS
Current Assets
Cash and Cash Equivalents 170,519 463,295 11,656,188 7,011,448 11,882 25,950
Cash on Hand 152 149 11,643 6,647 - -
Cash in Bank-Local Currency 7,082 462,166 10,971,277 5,577,250 11,882 6,416
Cash in Bank-Foreign Currency 108 980 - - - -
Cash Equivalents 163,175 - 673,267 1,427,550 - 19,534


Investments in Time Deposits - - 671,616 411,954 405,607 411,954
Receivables 549,034 74,364 8,051,630 7,312,902 15,986 9,365

Loans and Receivable Accounts 28,376 59,239 5,237,461 4,890,409 10,249 2,474
Inter-Agency Receivables 500,000 - 2,759,966 2,364,938 - -
Inventories (214) (265) 43,665,359 22,484,169 217 223

Inventory Held for Sale - - 33,266,898 22,473,627 - -
Inventory Held for Distribution - - 554,797 - - -
Inventory Held for Manufacturing - - 9,831,923 - - -
Inventory Held for Consumption (214) (265) 11,741 10,542 217 223
and Books - - - - - -
Non-Current Assets Held for Sale - - - - - -

Other Current Assets 5,407 3,237 3,067,926 3,298,435 1,324 1,332

Advances - - 60,929 54,081 - -
Prepayments 5,407 3,237 3,006,984 3,244,340 1,311 1,319
Deposits - - 3 3 3 3
Other Assets - - 10 10 10 10
Total Current Assets 1,414,839 1,017,585 67,112,718 40,518,908 435,016 448,824
Non-Current Assets
Investments in Joint Venture - - 5,336,975 6,209,659 - -

Investments in Joint Venture - - 5,336,975 6,209,659 - -
Other Investments - - 39 39 - -
437
(in thousand pesos)
TIDCORP Non-GBE ECC

2017 2016 2017 2016 2017 2016
Receivables 334,523 361,162 56,309,123 55,328,875 - -

Loans and Receivable Accounts 322,761 349,875 56,013,511 55,089,033 - -
Inter-Agency Receivables 946 930 295,611 239,842 - -
Other Receivables - - - - - -
Investment Property - - 306,929 167 167 167

Land and Buildings - - 306,929 167 167 167
Property, Plant and Equipment 64,268 69,840 1,775,203 12,218,238 36,530 33,289
Land - - 1,266,025 2,513,641 11,019 11,019
Land Improvements - - 14,892 12,839 - -
Furniture, Fixtures and Books 956 726 3,911 4,169 686 710
Leased Assets Improvements 642 642 - - - -
Other Property, Plant and Equipment - - 1,170 1,287 - -
Construction in Progress - - 138,501 8,892,735 - -
Intangible Assets 733 900 - - - -

Deferred Tax Assets 288,565 221,742 - - - -

Other Non-Current Assets 64,418 88,263 6,244,610 4,006,076 2,716 2,716

Prepayments 2,126 2,123 17,144 17,144 - -
Deposits - - 87,027 86,817 - -
Restricted Fund 18,129 17,920 5,308,940 3,704,747 - -
Other Assets 44,163 68,219 831,499 197,368 2,716 2,716
Total Non-Current Assets 752,507 741,907 69,972,879 77,763,054 39,413 36,173
Total Assets 2,167,347 1,759,491 137,085,597 118,281,962 474,429 484,996
LIABILITIES
Current Liabilities
Financial Liabilities 1,333,092 1,241,919 310,754 335,671 24,928 28,435

Payables 520,842 386,919 310,449 232,842 24,695 21,022
Bills/Bonds/Loans Payable 812,250 855,000 - 95,278 - -
Tax Refunds Payable - - 305 330 233 193
Other Financial Liabilities - - - 7,220 - 7,220
Inter-Agency Payables 8,413 6,463 4,159,387 4,038,386 662 1,083

Inter-Agency Payables 8,413 6,463 4,159,387 4,038,386 662 1,083

Trust Liabilities 34,710 71,569 7,332,587 6,498,359 186 186

Trust Liabilities 34,710 71,569 7,332,587 6,498,359 186 186
438
(in thousand pesos)
TIDCORP Non-GBE ECC

2017 2016 2017 2016 2017 2016

Other Payables 2,081 3,851 303,935 304,293 6,886 -

Other Payables 2,081 3,851 303,935 304,293 6,886 -
Total Current Liabilities 1,402,812 1,353,738 12,109,183 11,183,547 32,663 29,704
Deferred Credits/Unearned Income 3,312 3,638 4,593,009 5,193,476 - -

Deferred Credits 2,981 3,307 4,593,009 5,193,476 - -
Unearned Revenue/Income 331 331 - - - -
Provisions - - 721,359 424,003 17,457 13,803

Provisions - - 721,359 424,003 17,457 13,803
Deferred Tax Liabilities 535 521 - - - -

Deferred Tax Liabilities 535 521 - - - -
Other Payables - - 204,030 196,332 - -

Other Payables - - 204,030 196,332 - -
Total Non-Current Liabilities 3,847 4,159 5,518,397 5,813,812 17,457 13,803
Total Liabilities 1,406,659 1,357,897 17,627,580 16,997,359 50,120 43,508
NET ASSETS/EQUITY
Government Equity - - 119,458,016 101,284,603 424,310 441,488

Retained Earnings/(Deficit) (5,153,880) (5,020,748) - - - -
Stockholders' Equity 5,961,899 5,461,899 - - - -
Cumulative Changes in Fair Value (47,333) (39,557) - - - -
Total Net Assets/Equity 760,687 401,594 119,458,016 101,284,603 424,310 441,488
Total Liabilities and Net Assets/Equity 2,167,347 1,759,491 137,085,597 118,281,962 474,429 484,996
439
(in thousand pesos)
NHA OSHC
2017 2016 2017 2016
ASSETS
Current Assets
Cash and Cash Equivalents 11,610,780 6,684,228 33,526 301,271

Cash on Hand 11,370 6,516 274 131
Cash in Bank-Local Currency 10,941,897 5,554,562 17,499 16,272
Cash in Bank-Foreign Currency - - - -
Cash Equivalents 657,513 1,123,149 15,754 284,867
Other Investments - - 266,008 -

Investments in Time Deposits - - 266,008 -
Receivables 7,988,241 7,296,033 47,403 7,504

Loans and Receivable Accounts 5,226,543 4,887,855 669 79
Inter-Agency Receivables 2,716,813 2,361,615 43,153 3,323
Other Receivables 44,886 46,562 3,580 4,102
Inventories 43,662,592 22,483,084 2,549 862

Inventory Held for Sale 33,266,898 22,473,627 - -
Inventory Held for Distribution 554,797 - - -
Inventory Held for Manufacturing 9,831,923 - - -
Inventory Held for Consumption 8,974 9,458 2,549 862
and Equipment - - - -
and Books - - - -

Other Current Assets 3,065,797 3,296,554 804 548

Advances 60,260 53,640 669 442
Prepayments 3,005,537 3,242,915 135 107
Deposits - - - -
Total Current Assets 66,327,411 39,759,899 350,291 310,185
Non-Current Assets
Other Comprehensive Income - - - -
Investments in Joint Venture 5,336,975 6,209,659 - -

Investments in Joint Venture 5,336,975 6,209,659 - -
Other Investments 39 39 - -
Investments in Time Deposits - - - -
440
(in thousand pesos)
NHA OSHC
2017 2016 2017 2016
Other Investments 39 39 - -
Receivables 56,309,123 55,328,875 - -

Loans and Receivable Accounts 56,013,511 55,089,033 - -
Inter-Agency Receivables 295,611 239,842 - -
Other Receivables - - - -
Investment Property 306,762 - - -

Land and Buildings 306,762 - - -
Construction in Progress - - - -
Property, Plant and Equipment 1,647,728 12,109,622 90,944 75,326

Land 1,255,006 2,502,622 - -
Land Improvements 14,892 12,839 - -
Infrastructure Assets - - - -
Buildings and Other Structures 96,617 544,755 26,168 24,810
Machinery and Equipment 110,070 114,257 56,220 47,562
Transportation Equipment 29,560 39,165 7,243 1,458
Furniture, Fixtures and Books 1,912 1,963 1,313 1,496
Leased Assets Improvements - - - -
Heritage Assets - - - -
Other Property, Plant and Equipment 1,170 1,287 - -
Construction in Progress 138,501 8,892,735 - -
Intangible Assets - - - -
Intangible Assets - - - -
Deferred Tax Assets - - - -

Other Non-Current Assets 6,241,146 4,002,892 749 469

Prepayments 17,144 17,144 - -
Deposits 86,557 86,349 470 469
Restricted Fund 5,308,940 3,704,747 - -
Other Assets 828,504 194,652 279 -
Total Non-Current Assets 69,841,772 77,651,086 91,693 75,795
Total Assets 136,169,183 117,410,985 441,984 385,980
LIABILITIES
Current Liabilities
Financial Liabilities 245,053 291,377 40,773 15,860

Payables 244,981 195,961 40,773 15,860
Bills/Bonds/Loans Payable - 95,278 - -
Tax Refunds Payable 72 137 - -
Deficit/Loss - - - -
Inter-Agency Payables 4,158,188 4,036,843 537 461

Inter-Agency Payables 4,158,188 4,036,843 537 461
Intra-Agency Payables - - - -
Trust Liabilities 7,331,906 6,496,671 494 1,501

Trust Liabilities 7,331,906 6,496,671 494 1,501
441
(in thousand pesos)
NHA OSHC
2017 2016 2017 2016
Deferred Credits/Unearned Income - - 2,520 6,838

Deferred Credits - - 2,520 6,838
Provisions - - - -
Provisions - - - -
Other Payables 294,946 302,221 2,103 2,071

Other Payables 294,946 302,221 2,103 2,071
Total Current Liabilities 12,030,093 11,127,112 46,427 26,731
Financial Liabilities - - - -
Payables - - - -
Deferred Credits/Unearned Income 4,593,009 5,193,476 - -

Deferred Credits 4,593,009 5,193,476 - -
Provisions 678,392 389,934 25,510 20,266

Provisions 678,392 389,934 25,510 20,266

Other Payables 204,030 196,332 - -

Other Payables 204,030 196,332 - -
Total Non-Current Liabilities 5,475,431 5,779,743 25,510 20,266
Total Liabilities 17,505,524 16,906,854 71,937 46,996
NET ASSETS/EQUITY
Government Equity 118,663,659 100,504,131 370,048 338,984

Revaluation Surplus - - - -
Stockholders' Equity - - - -
Cumulative Translation Adjustment - - - -
Members’ Equity - - - -
Total Net Assets/Equity 118,663,659 100,504,131 370,048 338,984
Total Liabilities and Net Assets/Equity 136,169,183 117,410,985 441,984 385,980

442
(in thousand pesos)
TOTAL GBE APO

2017 2016 2017 2016 2017 2016
ASSETS
Current Assets
Cash on Hand 989,035 900,853 584,336 169,884 215 215
Cash in Bank-Foreign Currency 600,356 404,140 90,988 87,251 95 142
Treasury/Agency Cash Accounts 0 106 - - - -
Cash Equivalents 35,267,683 40,647,019 4,459,935 7,218,001 - -
Financial Assets 4,218,082 576,966 3,216,201 575,084 - -

Surplus/Profit or Deficit/Loss 9,797 8,003 9,797 8,003 - -
Financial Assets-Held to Maturity 4,184,285 548,462 3,182,404 546,581 - -
Sale Securities 24,000 20,500 24,000 20,500 - -

Sinking Fund 242,843 161,719 242,843 161,719 - -
Receivables 217,384,258 214,799,686 9,162,780 8,683,150 381,108 538,729

Lease Receivables 35,846,948 33,919,757 55,260 216 - -
Inter-Agency Receivables 21,903,012 32,938,126 1,691,606 1,520,471 5,551 -
Intra-Agency Receivables 2,357,858 19,013,122 21,492 18,969 - -
Other Receivables 20,022,273 23,768,312 977,986 942,140 1,637 593
Inventories 6,929,267 8,238,001 2,641,643 2,484,982 66,158 121,475

Inventory Held for Distribution 131,790 109,073 131,790 109,073 - -
Inventory Held for Manufacturing 102,348 155,972 102,348 155,972 60,530 115,625
Inventory Held for Consumption 6,345,164 7,615,853 2,143,316 1,945,982 5,629 5,850
Equipment 27,853 15,474 26,094 15,474 - -
and Books 7,868 7,216 7,789 7,216 - -
Plant Inventory 2,319 2,840 2,319 2,840 - -
Non-Current Assets Held for Sale 842 842 842 842 - -

Non-Current Assets Held for Sale 842 842 842 842 - -
Other Current Assets 55,955,766 56,571,131 4,636,383 4,716,700 571,166 113,501

Advances 286,334 338,891 45,507 40,510 - -
Prepayments 45,001,428 44,009,280 3,102,816 2,626,456 335,301 65,209
Deposits 9,951,700 11,532,738 818,415 1,377,742 235,865 -
Other Assets 716,303 690,222 669,645 671,992 - 48,293
Total Current Assets 362,905,685 366,132,413 47,385,977 45,097,223 1,182,994 877,381
Non-Current Assets
Financial Assets 15,728,145 8,112,110 7,411,303 7,070,730 - -


Financial Assets-Held to Maturity 14,423,579 7,082,119 7,405,549 7,065,186 - -
Sale Securities 4,254 4,044 4,254 4,044 - -
Financial Assets-Domestic Investments
1,500 1,500 1,500 1,500 - -
Investments in Joint Venture 1,433,971 1,361,960 1,433,971 1,361,960 21,500 21,500
443
(in thousand pesos)
TOTAL GBE APO

2017 2016 2017 2016 2017 2016
Investments in Joint Venture 1,433,971 1,361,960 1,433,971 1,361,960 21,500 21,500



Sinking Fund 834,166 9,652,492 834,166 882,366 - -
Investments in Time Deposits 4,403,927 600,176 4,403,927 600,176 - -
Receivables 444,864,301 476,228,994 174,050 166,880 941 -

Loans and Receivable Accounts 98,016,639 92,958,231 148,877 145,792 - -
Lease Receivables 244,531,792 279,284,875 - - - -
Inter-Agency Receivables 102,291,499 103,964,537 802 2,077 - -
Other Receivables 24,371 21,350 24,371 19,012 941 -
Investment Property 16,104,448 16,190,054 14,464,527 14,511,836 - -

Land and Buildings 16,094,012 16,182,577 14,454,092 14,504,359 - -
Land 146,792,147 141,480,395 68,000,650 64,678,577 - -
Land Improvements 1,231,275 1,225,934 428,903 423,084 - -
Infrastructure Assets 90,674,779 109,840,228 50,795,610 53,397,890 - -
Buildings and Other Structures 39,926,817 41,713,265 6,506,523 6,319,565 - -
Transportation Equipment 5,982,170 7,632,989 1,052,042 1,305,242 9,468 11,479
Furniture, Fixtures and Books 943,086 1,080,146 194,322 216,102 980 1,361
Leased Assets 35,818 38,141 35,818 38,141 26,349 28,311
Heritage Assets 1,307 1,197 - - - -
Service Concession Assets 204,860,443 176,264,307 22,179,080 14,664,426 - -
Exploration and Evaluation Assets 7,296,626 8,239,343 7,296,626 8,239,343 - -
Bearer Trees, Plants and Crops 79 80 79 80 - -
Other Property, Plant and Equipment 2,209,932 2,370,648 3,864,828 3,758,570 1,628 1,978
Construction in Progress 27,637,265 26,085,293 12,420,771 10,008,286 - -
Biological Assets 162 162 162 162 - -

Bearer Biological Assets 162 162 162 162 - -

Deferred Tax Assets 1,720,889 1,835,096 631,410 759,767 5,556 1,110

Deferred Tax Assets 1,720,889 1,835,096 631,410 759,767 5,556 1,110

Prepayments 81,381 103,009 34,591 56,220 - 14,613
Deposits 382,670 138,611 301,016 87,959 9,847 2,490
Restricted Fund 17,032,979 11,130,010 4,021,279 3,310,689 - -
Other Assets 29,643,299 27,183,677 14,971,589 14,871,011 84 9,346
Total Non-Current Assets 1,293,078,060 1,299,762,971 231,920,634 217,137,773 128,803 154,212
Total Assets 1,655,983,745 1,665,895,385 279,306,611 262,234,996 1,311,797 1,031,593
444
(in thousand pesos)
TOTAL GBE APO

2017 2016 2017 2016 2017 2016
LIABILITIES
Current Liabilities
Financial Liabilities 96,745,976 90,171,330 8,377,357 8,125,406 264,275 580,326

Payables 66,240,357 55,982,258 6,262,360 5,892,493 264,275 580,326
Tax Refunds Payable 4,849 6,684 3,383 5,218 - -
Inter-Agency Payables 195,632,968 205,559,946 3,958,445 3,337,283 605,913 (950)

Inter-Agency Payables 195,621,084 205,551,999 3,946,560 3,329,335 605,913 (950)
Intra-Agency Payables 4,031,514 21,164,336 82,842 114,673 - -

Intra-Agency Payables 4,031,514 21,164,336 82,842 114,673 - -


Deferred Credits 20,214,129 11,945,734 975,579 762,514 - -
Unearned Revenue/Income 8,026,465 2,458,444 100,290 153,345 44,305 132,178
Provisions 9,127,759 657,844 416,678 329,455 - -

Provisions 9,127,759 657,844 416,678 329,455 - -
Other Payables 16,403,643 19,852,522 949,025 813,918 1,437 1,296

Other Payables 16,403,643 19,852,522 949,025 813,918 1,437 1,296

Payables 198,948,204 236,825,119 52,226 55,718 47,051 50,453
Bills/Bonds/Loans Payable 334,749,646 343,063,079 21,887,694 21,984,277 48,239 48,239

Trust Liabilities 8,498,072 8,082,445 500,616 395,712 623 623

Trust Liabilities 8,498,072 8,082,445 500,616 395,712 623 623

Deferred Credits 187,721,847 147,582,583 1,144,252 1,113,547 - -
Provisions 1,384,615 1,256,331 814,828 683,683 54,445 61,675

Provisions 1,384,615 1,256,331 814,828 683,683 54,445 61,675
Deferred Tax Liabilities 4,392,859 4,494,497 3,545,709 3,625,225 3,366 3,366

Deferred Tax Liabilities 4,392,859 4,494,497 3,545,709 3,625,225 3,366 3,366
Other Payables 3,042,917 2,615,707 627,068 519,428 43,745 57,499

Other Payables 3,042,917 2,615,707 627,068 519,428 43,745 57,499
Total Non-Current Liabilities 771,648,295 753,821,472 31,549,371 31,365,706 197,469 221,854
Total Liabilities 1,133,461,674 1,115,253,040 48,717,047 46,810,912 1,121,084 941,377
445
(in thousand pesos)
TOTAL GBE APO

2017 2016 2017 2016 2017 2016
NET ASSETS/EQUITY
Government Equity 199,415,045 231,702,784 20,689,685 20,446,347 - -

Revaluation Surplus 120,075,529 124,612,848 89,651,257 83,433,898 2,908 2,908
Retained Earnings/(Deficit) 114,986,102 106,270,090 114,986,102 106,270,090 187,805 87,308
Cumulative Translation Adjustment (1,220) 13,341 (1,220) 13,341 - -
Cumulative Changes in Fair Value 40,388,525 40,385,193 17,489 14,157 - -
Total Net Assets/Equity 522,522,070 550,642,345 230,589,564 215,424,084 190,713 90,216
Total Liabilities and Net Assets/Equity 1,655,983,745 1,665,895,385 279,306,611 262,234,996 1,311,797 1,031,593
446
(in thousand pesos)
CPA (Region 7) PNOC PNOC-AFC

2017 2016 2017 2016 2017 2016
ASSETS
Current Assets
Cash on Hand 13,403 9,634 - - - -
Cash in Bank-Foreign Currency - - 130 116 - -
Treasury/Agency Cash Accounts - - - - - -
Cash Equivalents 156,492 155,165 52,760 - 243,651 352,840
Financial Assets - - 790,651 - 365,209 207,079

Financial Assets-Held to Maturity - - 790,651 - 365,209 207,079
Other Investments - - 326,701 1,166,039 3,657 3,657

Investments in Time Deposits - - 326,701 1,166,039 - -
Other Investments - - - - 3,657 3,657
Receivables 44,002 43,107 1,414,016 1,432,869 33,892 32,123

Inter-Agency Receivables - - 1,346,417 1,375,780 - -
Other Receivables 2,154 2,354 8,706 11,432 55 331
Inventories 13,201 13,094 - - - -

Inventory Held for Consumption 13,174 13,094 - - - -
Equipment 27 - - - - -
and Books - - - - - -


Advances - - 13 69 - -
Prepayments 111,999 82,439 15,580 17,479 48,174 47,814
Deposits 1,903 1,903 194,848 181,807 21 21
Other Assets - - 256,265 266,208 - -
Total Current Assets 1,037,154 947,091 3,055,449 3,068,622 700,631 646,906
Non-Current Assets

Financial Assets-Held to Maturity - - 6,660,000 6,445,000 - -
Sale Securities - - 2,600 2,450 - -
- - - - - -
447
(in thousand pesos)

2017 2016 2017 2016 2017 2016
Investments in Associates/Affiliates - - 99,978 99,978 - -



Receivables - - 66,179 62,436 - -

Loans and Receivable Accounts - - 66,122 62,380 - -
Inter-Agency Receivables - - 57 57 - -

Land 3,577,170 3,577,170 201,067 267,635 765,169 765,169
Land Improvements - - 97 118 - -
Infrastructure Assets 1,675,498 1,544,070 - - 29,083 31,955
Furniture, Fixtures and Books 1,062 4,600 - - - -
Service Concession Assets - - - - - -
Exploration and Evaluation Assets - - - - - -
Bearer Trees, Plants and Crops - - - - - -
Other Property, Plant and Equipment 8,386 9,876 - - - -
Construction in Progress 188,617 57,651 41,341 - - -
Intangible Assets 2,582 2,009 - - - -


Other Non-Current Assets 622 622 13,789,706 13,789,706 2,286 2,286

Other Assets 622 622 13,789,706 13,789,706 2,286 2,286
Total Assets 6,964,872 6,574,212 40,666,598 40,533,947 4,121,865 4,071,109
448
(in thousand pesos)

2017 2016 2017 2016 2017 2016
LIABILITIES
Current Liabilities
Financial Liabilities 50,913 47,241 148,856 48,835 13,526 16,417

Payables 50,913 47,241 107,515 48,644 13,526 16,387
Other Financial Liabilities - - 41,341 192 0 30




Deferred Credits 10,782 15,667 - - - -
Other Payables 16,361 26,577 148,538 143,763 - -

Other Payables 16,361 26,577 148,538 143,763 - -
Total Current Liabilities 598,414 548,772 508,498 397,837 25,954 26,877
Trust Liabilities 15,342 13,777 - - - -

Deferred Credits/Unearned Income 8,259 2,209 266,370 276,493 72,617 71,282

Deferred Credits 2,796 2,209 263,480 272,753 67,602 66,857
Unearned Revenue/Income 5,463 - 2,891 3,740 5,016 4,426
Provisions - - 26,282 24,203 - -

Provisions - - 26,282 24,203 - -
Deferred Tax Liabilities - - 2,754,435 2,788,161 695,544 695,544

Deferred Tax Liabilities - - 2,754,435 2,788,161 695,544 695,544
Other Payables - - - - 5,004 5,047

Other Payables - - - - 5,004 5,047
Total Liabilities 622,015 564,757 3,555,585 3,486,694 799,119 798,750
449
(in thousand pesos)

2017 2016 2017 2016 2017 2016
NET ASSETS/EQUITY

Revaluation Surplus - - 9,181,439 9,295,927 707,688 707,688
Stockholders' Equity - - - - 2,400,000 2,400,000
Cumulative Changes in Fair Value - - (866) (1,006) - -
450
(in thousand pesos)
PNOC-DMC PNOC-EC PNOC-RC

2017 2016 2017 2016 2017 2016
ASSETS
Current Assets
Cash on Hand - - 718 738 4 -
Cash in Bank-Foreign Currency - - 3,562 3,382 - -
Cash Equivalents - - 972,701 4,035,413 73,412 105,660
Financial Assets - - 705,011 - - -

Financial Assets-Held to Maturity - - 705,011 - - -
Other Investments - - - 5,127 21 21

Investments in Time Deposits - - - 5,127 - -
Other Investments - - - - 21 21
Receivables 109,474 141,879 697,521 596,468 64,114 62,078

Inter-Agency Receivables - - 2,375 2,053 1,405 1,068
Inventories 17,818 18,311 163,360 143,135 - -

Inventory Held for Consumption - - 125,759 125,904 - -
and Books - - - - - -


Advances - - 551 298 457 498
Prepayments 247 9 463,988 448,346 33,296 27,922
Deposits - - - - 7,070 6,083
Other Assets - - 248,856 207,524 88 88
Total Current Assets 133,271 168,118 3,282,955 5,464,231 203,197 203,576
Non-Current Assets
Financial Assets 385,925 201,434 1,654 1,594 253,219 357,884

Financial Assets-Held to Maturity 385,925 201,434 - - 253,219 357,884
Sale Securities - - 1,654 1,594 - -
- - - - - -
Investments in Joint Venture - - 1,146,839 1,141,634 161,820 124,720
451
(in thousand pesos)

2017 2016 2017 2016 2017 2016
Investments in Joint Venture - - 1,146,839 1,141,634 161,820 124,720
Investments in Subsidiaries - - - 625 - -

Investments in Subsidiaries - - - 625 - -
Other Investments 115,727 252,574 4,229,337 303,041 - -

Investments in Time Deposits 115,703 252,551 4,229,337 303,041 - -
Receivables 9,283 9,396 - - - -

Investment Property 216,115 216,115 - - 277,530 277,530

Land and Buildings 216,115 216,115 - - 277,530 277,530
Property, Plant and Equipment 198 243 7,527,127 8,501,250 117,724 86,344
Land - - - - - -
Infrastructure Assets - - 30,059 34,295 103,392 54,455
Buildings and Other Structures - - 48,140 53,945 - -
Transportation Equipment 0 0 4,165 5,147 1,225 -
Leased Assets Improvements 164 174 10,445 11,903 780 -
Exploration and Evaluation Assets - - 7,296,626 8,239,343 - -
Construction in Progress - - 871 5,673 7,674 26,872
Intangible Assets - - - - - -

Other Non-Current Assets 10,926 11,064 56,355 51,759 - -

Deposits 10,926 10,926 - - - -
Restricted Fund - - 51,048 46,874 - -
Other Assets 0 137 5,307 4,885 - -
Total Assets 879,193 862,475 16,510,955 15,870,835 1,013,490 1,050,055
452
(in thousand pesos)

2017 2016 2017 2016 2017 2016
LIABILITIES
Current Liabilities

Payables 1,560 9,436 229,853 233,343 62,226 59,896
Other Financial Liabilities - 4,200 2,046 1,868 - -



Deferred Credits - - - - 5,567 5,704
Other Payables - - - - 14,836 6,941

Other Payables - - - - 14,836 6,941
Deferred Credits/Unearned Income 140,138 155,202 2,360,064 2,356,330 - -

Unearned Revenue/Income - - 2,355,925 2,352,190 - -
Provisions - - 246,869 201,385 - -

Provisions - - 246,869 201,385 - -
Deferred Tax Liabilities 64,799 64,799 - 45,051 16,099 16,099

Deferred Tax Liabilities 64,799 64,799 - 45,051 16,099 16,099
Other Payables 153 153 110,880 51,690 - -

Other Payables 153 153 110,880 51,690 - -
453
(in thousand pesos)

2017 2016 2017 2016 2017 2016
NET ASSETS/EQUITY
Revaluation Surplus 152,576 152,576 - - 252,215 252,215
Retained Earnings/(Deficit) 444,314 401,200 11,362,918 10,773,701 277,325 325,549
Stockholders' Equity 72,301 72,301 2,113,251 2,113,251 374,972 374,972
Cumulative Translation Adjustment - - (1,220) 13,341 - -
Cumulative Changes in Fair Value - - (190) (232) - -
454
(in thousand pesos)
PNOC-STC PPA PRI (Region 6)

2017 2016 2017 2016 2017 2016
(Restated)
ASSETS
Current Assets
Cash and Cash Equivalents 82 249 6,290,801 5,519,816 15,822 364

Cash on Hand - - 79,594 60,421 10 10
Cash in Bank-Local Currency 82 249 6,200,218 5,436,995 15,812 354
Cash Equivalents - - - - - -
Financial Assets 33,797 28,503 1,103,987 300,363 - -

Financial Assets-Held to Maturity - - 1,103,987 300,363 - -
Sale Securities 24,000 20,500 - - - -
Other Investments - - 6,008,816 5,413,964 17 17

Other Investments - - 150 150 17 17
Receivables 4,019 5,288 2,270,460 1,946,910 62,290 50,107

Loans and Receivable Accounts 726 1,400 1,849,782 1,631,136 28,080 15,898
Inter-Agency Receivables 666 666 260,058 94,898 - -
Intra-Agency Receivables - - 19,012 16,533 - -
Inventories 1,805 5,777 65,752 75,577 21 21

Inventory Held for Consumption 1,805 5,777 62,604 67,769 21 21
Equipment - - 2,637 3,760 - -
and Books - - 510 4,048 - -

Other Current Assets - - 1,904,730 2,717,080 822 766

Advances - - 3,197 516 154 98
Prepayments - - 1,861,205 1,770,012 - -
Deposits - - 40,328 946,551 - -
Other Assets - - - - 668 668
Non-Current Assets
- - - - - -
455
(in thousand pesos)

2017 2016 2017 2016 2017 2016
(Restated)
Receivables - - - - - -
Loans and Receivable Accounts - - - - - -
Investment Property 13,140 13,140 - - - -

Land and Buildings 13,140 13,140 - - - -
Land - - 60,485,916 57,366,426 272,150 272,150
Infrastructure Assets - - 23,816,824 27,690,928 - -
Machinery and Equipment 1 3 1,106,386 1,045,604 37 42
Furniture, Fixtures and Books 11 17 53,008 66,945 - -
Leased Assets Improvements 0 0 - - - -
Service Concession Assets - - 21,615,269 14,100,251 - -
Construction in Progress - - 4,837,302 3,615,671 - -
Intangible Assets - - 141,126 282,253 - -

Deferred Tax Assets - - - - - -

Other Non-Current Assets 17,241 19,573 820,654 423,446 - -

Prepayments 16,945 19,277 - - - -
Deposits 164 164 - - - -
Restricted Fund - - 389,260 115,907 - -
Other Assets 132 132 431,394 307,539 - -
Total Assets 73,741 386,427 131,595,325 121,745,568 353,269 325,685
456
(in thousand pesos)

2017 2016 2017 2016 2017 2016
(Restated)
LIABILITIES
Current Liabilities
Financial Liabilities 66,123 73,377 3,652,635 3,259,950 0 31

Payables 66,123 73,377 3,218,245 2,837,063 0 31
Tax Refunds Payable - - 1,146 4,101 - -
Inter-Agency Payables 1,324,636 1,335,508 895,500 1,007,415 87 25

Inter-Agency Payables 1,324,636 1,335,508 895,500 1,007,415 87 25
Trust Liabilities - - 1,050,454 682,914 - -


Provisions - - 132,047 109,814 - -

Provisions - - 132,047 109,814 - -
Other Payables - - 81,401 64,245 30,333 18,151

Other Payables - - 81,401 64,245 30,333 18,151
Financial Liabilities - - 3,549,826 3,828,179 11,028 11,028

Bills/Bonds/Loans Payable - - 3,549,826 3,828,179 11,028 11,028
Deferred Credits/Unearned Income - - 10,054 7,371 - -

Unearned Revenue/Income - - 10,054 7,371 - -
Provisions - - 270,221 250,825 - -

Provisions - - 270,221 250,825 - -
Deferred Tax Liabilities 4,381 3,493 6,916 4,004 - -

Deferred Tax Liabilities 4,381 3,493 6,916 4,004 - -
Other Payables 9,766 9,776 - - - -

Other Payables 9,766 9,776 - - - -
457
(in thousand pesos)

2017 2016 2017 2016 2017 2016
(Restated)
NET ASSETS/EQUITY

Revaluation Surplus - - 78,786,879 72,547,652 255,220 255,220
Retained Earnings/(Deficit) (1,539,710) (1,241,123) 35,855,327 32,940,500 (42,851) (58,436)
Stockholders' Equity 190,000 190,000 - - 95,727 95,727
Cumulative Changes in Fair Value 18,545 15,395 - - - -
Total Net Assets/Equity (1,331,165) (1,035,728) 121,088,780 111,867,140 308,097 292,512
Total Liabilities and Net Assets/Equity 73,741 386,427 131,595,325 121,745,568 353,269 325,685
458
(in thousand pesos)
WATER DISTRICTS Non-GBE LRTA

2017 2016 2017 2016 2017 2016
ASSETS
Current Assets
Cash and Cash Equivalents 11,616,303 10,450,906 50,689,343 57,309,322 397,336 5,038,693
Cash on Hand 490,392 98,865 404,698 730,969 7,449 7,275
Cash in Bank-Local Currency 8,088,778 7,721,906 18,967,528 22,832,341 376,072 5,017,678
Cash in Bank-Foreign Currency 76,212 61,211 509,369 316,889 3,422 3,422
Treasury/Agency Cash Accounts - - 0 106 - -
Financial Assets 217,546 39,139 1,001,881 1,881 - -

Financial Assets-Held to Maturity 217,546 39,139 1,001,881 1,881 - -
Other Investments 1,020,693 627,581 - - - -

Sinking Fund 242,843 161,719 - - - -
Investments in Time Deposits 765,962 454,556 - - - -
Receivables 4,081,886 3,833,592 208,221,478 206,116,536 2,808,188 2,934,060

Lease Receivables 55,260 216 35,791,687 33,919,541 - -
Inter-Agency Receivables 75,133 46,007 20,211,406 31,417,655 707,070 702,921
Intra-Agency Receivables 2,480 2,436 2,336,366 18,994,153 2,058,443 2,183,660
Other Receivables 752,997 666,656 19,044,287 22,826,172 35,420 35,708
Inventories 2,313,528 2,107,592 4,287,623 5,753,019 461,329 1,300,015

Inventory Held for Distribution 131,790 109,073 - - - -
Inventory Held for Manufacturing 41,818 40,347 - - - -
Inventory Held for Consumption 1,934,324 1,727,567 4,201,847 5,669,871 461,329 1,300,015
Equipment 23,430 11,714 1,759 - - -
and Books 7,278 3,168 79 - - -
Plant Inventory 2,319 2,840 - - - -
Non-Current Assets Held for Sale 842 842 - - - -

Non-Current Assets Held for Sale 842 842 - - - -
Other Current Assets 776,310 596,844 51,319,382 51,854,431 151,407 193,989

Advances 41,135 39,029 240,827 298,381 - -
Prepayments 233,027 167,226 41,898,611 41,382,824 151,407 193,989
Deposits 338,380 241,377 9,133,286 10,154,995 - -
Other Assets 163,768 149,212 46,658 18,230 - -
Non-Current Assets
Financial Assets 107,905 62,368 8,316,842 1,041,379 - -

Surplus/Profit or Deficit/Loss - - 1,298,812 1,024,447 - -

Financial Assets-Held to Maturity 106,405 60,868 7,018,030 16,933 - -
1,500 1,500 - - - -
459
(in thousand pesos)

2017 2016 2017 2016 2017 2016

Other Investments 1,029,994 1,069,864 418,869 9,175,394 217 217

Sinking Fund 834,166 882,366 - 8,770,126 - -
Other Investments 136,941 142,913 418,869 405,268 217 217
Receivables 97,648 95,048 444,690,250 476,062,113 - -

Loans and Receivable Accounts 73,472 74,016 97,867,762 92,812,439 - -
Lease Receivables - - 244,531,792 279,284,875 - -
Inter-Agency Receivables 746 2,020 102,290,696 103,962,460 - -
Other Receivables 23,430 19,012 - 2,338 - -
Investment Property 45,699 41,245 1,639,921 1,678,218 - -

Land and Buildings 35,263 33,768 1,639,921 1,678,218 - -
Land 2,699,177 2,430,028 78,791,498 76,801,818 8,767,922 8,696,862
Infrastructure Assets 25,140,755 24,042,187 39,879,170 56,442,338 14,748,349 23,958,238
Transportation Equipment 824,094 719,553 4,930,128 6,327,747 3,232,488 4,356,908
Leased Assets 9,469 9,830 - - - -
Leased Assets Improvements 11,411 10,821 711 423 - -
Heritage Assets - - 1,307 1,197 - -
Service Concession Assets 563,811 564,175 182,681,363 161,599,881 12,232,570 94,411
Other Property, Plant and Equipment 3,854,814 3,746,717 (1,654,896) (1,387,923) 0 165,303
Biological Assets 162 162 - - - -

Bearer Biological Assets 162 162 - - - -

Development in Progress 8,246 9,710 - - - -
Deferred Tax Assets 5,543 5,301 1,089,479 1,075,329 - -

Deferred Tax Assets 5,543 5,301 1,089,479 1,075,329 - -

Prepayments 17,646 22,330 46,789 46,789 - -
Deposits 280,078 74,378 81,654 50,652 70,826 39,988
Restricted Fund 3,580,971 3,147,908 13,011,700 7,819,321 8,091,737 3,705,383
Other Assets 742,059 756,358 14,671,710 12,312,666 1,867,310 1,867,120
Total Non-Current Assets 55,788,397 52,126,594 1,061,157,426 1,082,625,198 64,027,983 59,961,656
Total Assets 75,815,504 69,783,091 1,376,677,134 1,403,660,388 67,846,243 69,428,413
460
(in thousand pesos)

2017 2016 2017 2016 2017 2016
LIABILITIES
Current Liabilities

Payables 2,248,124 1,986,750 59,977,997 50,089,765 422,547 536,733
Inter-Agency Payables 624,909 591,774 191,674,524 202,222,663 722,695 708,870

Due to BSP/Other Banks/Others 11,885 7,947 - - - -
Intra-Agency Payables 12,759 9,340 3,948,672 21,049,663 3,002,078 3,017,970

Intra-Agency Payables 12,759 9,340 3,948,672 21,049,663 3,002,078 3,017,970
Trust Liabilities 982,830 860,492 9,323,465 7,812,800 202,397 193,828

Deferred Credits/Unearned Income 154,001 94,659 27,164,726 13,488,319 13,159 9,676

Deferred Credits 101,740 77,430 19,238,550 11,183,220 13,159 9,676
Unearned Revenue/Income 52,260 17,230 7,926,175 2,305,099 - -
Provisions 284,631 219,641 8,711,081 328,390 - -

Provisions 284,631 219,641 8,711,081 328,390 - -
Other Payables 656,119 552,945 15,454,618 19,038,604 96,026 88,243

Other Payables 656,119 552,945 15,454,618 19,038,604 96,026 88,243

Payables 5,175 5,264 198,895,977 236,769,401 - -
Inter-Agency Payables 36,316 18,973 4,897,097 4,897,143 - -

Inter-Agency Payables 36,316 18,973 4,897,097 4,897,143 - -
Trust Liabilities 484,652 381,312 7,997,455 7,686,733 - -

Trust Liabilities 484,652 381,312 7,997,455 7,686,733 - -

Unearned Revenue/Income 559,150 599,253 25,036,061 2,016,452 - -
Provisions 217,012 145,596 569,787 572,648 - -

Provisions 217,012 145,596 569,787 572,648 - -
Deferred Tax Liabilities 169 4,707 847,150 869,272 488,573 488,573

Deferred Tax Liabilities 169 4,707 847,150 869,272 488,573 488,573
Other Payables 457,519 395,263 2,415,849 2,096,279 - -

Other Payables 457,519 395,263 2,415,849 2,096,279 - -
Total Liabilities 27,307,446 26,381,088 1,084,744,628 1,068,442,128 67,880,330 66,244,732
461
(in thousand pesos)

2017 2016 2017 2016 2017 2016
NET ASSETS/EQUITY
Government Equity 6,968,590 6,792,837 178,725,361 211,256,438 (34,087) 3,183,681

Revaluation Surplus 312,331 219,713 30,424,272 41,178,949 - -
Retained Earnings/(Deficit) 41,227,138 36,389,453 - - - -
Cumulative Changes in Fair Value - - 40,371,036 40,371,036 - -
Total Net Assets/Equity 48,508,059 43,402,002 291,932,506 335,218,260 (34,087) 3,183,681
Total Liabilities and Net Assets/Equity 75,815,504 69,783,091 1,376,677,134 1,403,660,388 67,846,243 69,428,413
462
(in thousand pesos)
LWUA MWSS NEA

2017 2016 2017 2016 2017 2016
(Restated)
ASSETS
Current Assets
Cash on Hand 12,467 11,945 634 426 855 122
Cash in Bank-Local Currency 5,407,745 6,008,610 481,596 69,594 7,721,691 8,157,754
Cash in Bank-Foreign Currency - - 55 54 877 26,032
Cash Equivalents - - 3,318,344 3,284,742 7,454 6,976

Receivables 2,361,238 2,354,739 6,166,535 6,182,163 5,509,914 9,186,819

Loans and Receivable Accounts 1,730,915 1,719,604 487,527 494,330 2,328,089 2,257,998
Other Receivables 617,924 612,058 5,660,119 5,673,780 3,181,825 6,928,821
Inventories 3,968 2,594 - - 6,132 7,830

Inventory Held for Sale - - - - 4,876 4,876
Inventory Held for Consumption 3,968 2,594 - - 1,255 2,954
and Books - - - - - -


Advances 4,594 3,483 - - - -
Prepayments 107 72 903,703 892,694 2,747 1,708
Deposits 1,731 1,731 2,888 2,888 800 150
Non-Current Assets

- - - - - -
463
(in thousand pesos)
LWUA MWSS NEA

2017 2016 2017 2016 2017 2016
(Restated)

Receivables 5,566,046 5,885,156 - - 10,340,362 9,414,248

Loans and Receivable Accounts 5,534,390 5,851,163 - - 10,340,362 9,414,248
Other Receivables - 2,338 - - - -

Land - - 19,973,027 19,973,027 45,730 45,730
Land Improvements 1,665 1,665 - - 97 97
Buildings and Other Structures 72,036 71,729 24,030,980 25,011,694 131,348 139,944
Other Property, Plant and Equipment 15,103 15,213 - - 2,514 2,514

Other Non-Current Assets 993,247 1,158,735 1,488,449 1,417,831 4,711 4,711

Prepayments 46,789 46,789 - - - -
Deposits - - 10,828 10,664 - -
Restricted Fund 138,739 140,286 - - - -
Other Assets 807,719 971,660 1,477,620 1,407,167 4,711 4,711
Total Assets 15,480,661 16,554,384 57,788,616 58,171,725 23,813,664 27,038,801
464
(in thousand pesos)
LWUA MWSS NEA

2017 2016 2017 2016 2017 2016
(Restated)
LIABILITIES
Current Liabilities

Payables 40,193 172,333 751,900 769,433 141,678 110,618
Bills/Bonds/Loans Payable 389,719 439,267 - 1,698 - 3,797
Inter-Agency Payables 26,928 (149,523) 152,797 149,922 18,310,645 18,249,064

Inter-Agency Payables 26,928 (149,523) 152,797 149,922 18,310,645 18,249,064
Intra-Agency Payables - - - 1,125 - -

Intra-Agency Payables - - - 1,125 - -


Other Payables - - 539,225 212,089 10,038,177 13,603,573

Other Payables - - 539,225 212,089 10,038,177 13,603,573

Trust Liabilities 2,352,274 2,748,710 - - - -

Trust Liabilities 2,352,274 2,748,710 - - - -
Deferred Credits/Unearned Income 961,779 863,520 1,862,170 1,840,980 58,514 66,466

Unearned Revenue/Income 6,735 15,256 - - 58,514 66,466
Deferred Tax Liabilities 261,681 261,681 - - - -

Deferred Tax Liabilities 261,681 261,681 - - - -
Other Payables 612,549 908,723 - - - -

Other Payables 612,549 908,723 - - - -
465
(in thousand pesos)
LWUA MWSS NEA

2017 2016 2017 2016 2017 2016
(Restated)
NET ASSETS/EQUITY
Government Equity 7,924,415 8,058,938 9,663,509 9,431,656 (9,507,914) (9,767,282)

Retained Earnings/(Deficit) - - - - - -
Stockholders' Equity - - 7,142,458 7,142,458 4,772,564 4,772,564
Total Net Assets/Equity 7,924,415 8,058,938 45,233,870 45,002,018 (4,735,350) (4,994,718)
466
(in thousand pesos)
NPC PNR PPC

2017 2016 2017 2016 2017 2016
(Restated)
ASSETS
Current Assets
Cash and Cash Equivalents 19,585,410 14,675,271 312,112 359,382 2,882,267 2,042,388
Cash on Hand - - 4,491 4,066 376,161 414,270
Cash in Bank-Foreign Currency 24,795 28,988 - - - -
Treasury/Agency Cash Accounts - - 0 106 - -
Cash Equivalents 18,858,668 14,456,992 - - 812,985 341,706
Receivables 4,508,638 5,241,215 520,673 524,698 2,506,205 19,303,562

Loans and Receivable Accounts 2,691,818 3,129,281 - - 1,503,320 1,808,202
Lease Receivables 74 315 354,696 354,667 37,713 25,158
Intra-Agency Receivables - - - - 277,923 16,810,494
Other Receivables 1,729,466 2,062,818 148,138 148,098 233,353 158,352
Inventories 1,313,927 1,439,674 116,324 19,965 181,108 975,360

Inventory Held for Sale - - - - 79,062 78,272
Equipment - - - - 1,759 -
and Books - - - - 79 -


Advances 14,038 18,847 656 1,518 220,526 273,714
Prepayments 5,297,737 4,517,645 155,794 220,721 90,754 61,954
Deposits 3,981 889 4,034 4,034 4,593 4,122
Other Assets - - - - 46,658 18,230
Non-Current Assets
- - - - - -
467
(in thousand pesos)
NPC PNR PPC

2017 2016 2017 2016 2017 2016
(Restated)

Other Investments 720 - 2,566 2,566 - -

Other Investments 720 - 2,566 2,566 - -
Receivables 1,040,396 1,518,593 - - - -

Loans and Receivable Accounts 1,040,396 1,518,593 - - - -
Investment Property - - - - - -
Land and Buildings - - - - - -
Land 105,925 105,884 40,010,679 40,010,679 2,324,981 2,322,408
Land Improvements - - 430,189 430,189 10,341 9,538
Infrastructure Assets 5,905,013 6,163,081 7,741,288 7,760,569 - -
Machinery and Equipment 2,544,774 2,249,054 316,913 343,521 190,766 374,787
Transportation Equipment 174,792 322,744 1,259,586 1,365,030 125,924 157,101
Leased Assets Improvements - - - - 711 423
Heritage Assets - - - - 1,307 1,197
Other Property, Plant and Equipment (1,680,024) (1,578,464) 7,511 7,511 - -
Construction in Progress 3,520,316 3,397,837 688,654 632,047 - -
Deferred Tax Assets - - - - 124,374 110,225

Other Non-Current Assets 5,413,762 5,476,098 - - 786,626 1,050,638

Restricted Fund 4,328 4,205 - - - -
Other Assets 5,409,435 5,471,892 - - 786,626 1,050,638
Total Assets 48,500,794 44,313,827 52,484,152 52,617,153 11,172,993 28,447,132
468
(in thousand pesos)
NPC PNR PPC

2017 2016 2017 2016 2017 2016
(Restated)
LIABILITIES
Current Liabilities
Financial Liabilities 5,732,482 4,620,845 642,846 622,573 1,826,908 2,106,789

Payables 5,667,449 4,580,390 226,081 216,795 1,826,908 2,106,789
Bills/Bonds/Loans Payable 65,033 40,454 315,880 299,019 - -
Tax Refunds Payable - - 1,466 1,466 - -
Other Financial Liabilities - - 99,418 105,293 - -
Inter-Agency Payables 1,062,146 945,783 25,378,995 24,649,859 555,221 643,971

Inter-Agency Payables 1,062,146 945,783 25,378,995 24,649,859 555,221 643,971
Intra-Agency Payables - - - - 946,594 18,030,568

Intra-Agency Payables - - - - 946,594 18,030,568
Trust Liabilities 28,534 30,030 - - 905,096 721,280


Provisions - - - - 307,081 328,390

Provisions - - - - 307,081 328,390
Other Payables 373,866 289,400 - - 315,419 1

Other Payables 373,866 289,400 - - 315,419 1

Payables 16,106 - - - - -
Bills/Bonds/Loans Payable 623,960 604,908 1,552,409 1,690,929 6,366 51,744
Trust Liabilities 5,585,079 4,892,202 60,102 45,821 - -

Trust Liabilities 5,585,079 4,892,202 60,102 45,821 - -
Deferred Credits/Unearned Income 4,616,637 1,934,730 390,637 377,335 - -

Provisions 569,787 572,648 - - - -

Provisions 569,787 572,648 - - - -
Deferred Tax Liabilities - - - - 96,896 119,018

Deferred Tax Liabilities - - - - 96,896 119,018
Other Payables - - - - 172,007 260,463

Other Payables - - - - 172,007 260,463
469
(in thousand pesos)
NPC PNR PPC

2017 2016 2017 2016 2017 2016
(Restated)
NET ASSETS/EQUITY
Government Equity 2,828,644 3,359,728 (15,911,873) (15,140,399) (123,073) (160,240)

Revaluation Surplus - - - - 1,996,369 1,996,369
Stockholders' Equity 27,063,554 27,063,554 - - 3,433,261 3,433,261
Cumulative Changes in Fair Value - - 40,371,036 40,371,036 - -
470
(in thousand pesos)
PSALM TRANSCO
2017 2016 2017 2016
ASSETS
Current Assets
Cash and Cash Equivalents 9,752,831 16,503,295 807,669 1,124,038

Cash on Hand 33 143 2,608 292,721
Cash in Bank-Local Currency 1,515,576 959,882 762,160 787,911
Cash in Bank-Foreign Currency 474,696 222,334 5,524 36,060
Treasury/Agency Cash Accounts - - - -
Cash Equivalents 7,762,526 15,320,937 37,377 7,347
Financial Assets 1,000,000 - - -

Financial Assets-Held to Maturity 1,000,000 - - -
Receivables 177,011,635 154,663,934 6,828,452 5,725,347

Loans and Receivable Accounts 120,318,103 87,692,214 1,770,707 1,845,613
Lease Receivables 35,363,505 33,479,792 35,698 59,609
Inter-Agency Receivables 15,134,107 27,551,546 3,779,926 2,553,969
Other Receivables 6,195,920 5,940,382 1,242,122 1,266,155
Inventories 2,203,882 2,006,605 953 977

Inventory Held for Sale - - - -
Inventory Held for Distribution - - - -
Inventory Held for Manufacturing - - - -
Inventory Held for Consumption 2,203,882 2,006,605 953 977
Equipment - - - -
and Books - - - -
Plant Inventory - - - -

Other Current Assets 41,792,801 42,792,420 2,619,833 2,843,621

Advances 652 458 362 362
Prepayments 32,915,368 33,736,440 2,380,995 1,757,600
Deposits 8,876,782 9,055,522 238,477 1,085,659
Total Current Assets 231,761,149 215,966,253 10,256,909 9,693,983
Non-Current Assets
Financial Assets 8,299,909 1,024,447 - -

Surplus/Profit or Deficit/Loss 1,298,812 1,024,447 - -

Financial Assets-Held to Maturity 7,001,097 - - -
- - - -
471
(in thousand pesos)
PSALM TRANSCO
2017 2016 2017 2016
Investments in Subsidiaries 218,211,221 216,332,678 - -

Investments in Subsidiaries 218,211,221 216,332,678 - -
Other Investments - 8,770,126 608 608

Sinking Fund - 8,770,126 - -
Other Investments - - 608 608
Receivables 265,924,889 295,696,577 161,818,558 163,547,539

Loans and Receivable Accounts 22,147,595 17,223,416 58,805,019 58,805,019
Lease Receivables 243,777,294 278,473,160 754,498 811,715
Inter-Agency Receivables - - 102,259,041 103,930,805
Other Receivables - - - -
Investment Property 1,604,592 1,641,705 - -

Land and Buildings 1,604,592 1,641,705 - -
Construction in Progress - - - -
Property, Plant and Equipment 58,423,165 65,564,126 134,187,613 123,334,486

Land 7,541,067 5,643,892 22,166 3,335
Land Improvements - - - -
Infrastructure Assets 11,484,519 18,560,450 - -
Buildings and Other Structures - - 306,206 321,961
Machinery and Equipment 41,104 49,692 38,917 40,556
Transportation Equipment 5,076 6,132 17,414 6,638
Furniture, Fixtures and Books 2,345 2,655 7,233 8,223
Leased Assets Improvements - - - -
Heritage Assets - - - -
Service Concession Assets 37,710,591 39,669,698 132,738,202 121,835,772
Exploration and Evaluation Assets - - - -
Bearer Trees, Plants and Crops - - - -
Construction in Progress 1,638,463 1,631,607 1,057,476 1,118,003
Biological Assets - - - -
Bearer Biological Assets - - - -
Intangible Assets - - 6,212 7,498

Intangible Assets - - 6,212 7,498
Development in Progress - - - -

Other Non-Current Assets 4,587,025 3,780,081 4,508,162 1,728,844

Prepayments - - - -
Deposits - - - -
Restricted Fund 4,568,553 3,761,536 208,344 207,911
Other Assets 18,472 18,545 4,299,818 1,520,933
Total Non-Current Assets 557,050,801 592,809,740 300,521,153 288,618,976
Total Assets 788,811,950 808,775,994 310,778,062 298,312,959
472
(in thousand pesos)
PSALM TRANSCO
2017 2016 2017 2016
LIABILITIES
Current Liabilities
Financial Liabilities 74,189,822 69,006,650 1,835,315 1,389,268

Payables 49,451,186 40,587,896 1,450,054 1,008,777
Bills/Bonds/Loans Payable 24,738,635 28,418,754 - -
Tax Refunds Payable - - - -
Other Financial Liabilities - - 385,260 380,491
Inter-Agency Payables 145,021,166 156,592,626 443,932 432,091

Inter-Agency Payables 145,021,166 156,592,626 443,932 432,091
Due to BSP/Other Banks/Others - - - -
Trust Liabilities 7,596,146 6,265,691 1,346 1,554

Trust Liabilities 7,596,146 6,265,691 1,346 1,554
Deferred Credits/Unearned Income 18,741,458 4,844,365 7,675,260 7,718,759

Deferred Credits 10,876,368 2,600,574 7,675,260 7,718,759
Unearned Revenue/Income 7,865,090 2,243,792 - -
Provisions 8,404,000 - - -
Provisions 8,404,000 - - -
Other Payables 2,738,930 3,492,405 1,352,975 1,352,893

Other Payables 2,738,930 3,492,405 1,352,975 1,352,893
Total Current Liabilities 256,691,522 240,201,737 11,308,827 10,894,564
Financial Liabilities 437,451,611 483,720,927 - -

Payables 198,879,871 236,769,401 - -
Bills/Bonds/Loans Payable 238,571,740 246,951,526 - -
Inter-Agency Payables - - 4,897,097 4,897,143

Inter-Agency Payables - - 4,897,097 4,897,143
Deferred Credits/Unearned Income 62,867,186 14,887,431 140,856,733 128,515,026

Deferred Credits 42,513,012 14,887,431 140,856,733 128,515,026
Unearned Revenue/Income 20,354,175 - - -
Provisions - - - -
Provisions - - - -

Other Payables - - 1,631,293 927,092

Other Payables - - 1,631,293 927,092
Total Non-Current Liabilities 500,318,797 498,608,358 147,385,124 134,339,261
Total Liabilities 757,010,319 738,810,095 158,693,951 145,233,826
473
(in thousand pesos)
PSALM TRANSCO
2017 2016 2017 2016
NET ASSETS/EQUITY
Government Equity 31,801,630 59,211,222 152,084,111 153,079,133

Revaluation Surplus - 10,754,677 - -
Stockholders' Equity - - - -
Cumulative Translation Adjustment - - - -
Total Net Assets/Equity 31,801,630 69,965,899 152,084,111 153,079,133
Total Liabilities and Net Assets/Equity 788,811,950 808,775,994 310,778,062 298,312,959

474
(in thousand pesos)
TOTAL GBE AFAB (Region 3)

2017 2016 2017 2016 2017 2016
ASSETS
Current Assets
Cash on Hand 311,226 352,107 260,043 312,684 3,516 1,616
Cash in Bank-Foreign Currency 1,515,726 2,073,245 1,514,928 2,072,507 20,506 12,134


Investments in Time Deposits 31,914,464 17,369,155 24,073,107 7,789,599 15,470 15,206
Receivables 17,161,258 24,350,931 16,781,222 23,998,969 115,793 100,279

Lease Receivables 812,027 860,435 812,027 860,435 14,448 22,406
Inter-Agency Receivables 7,289,954 8,639,461 7,289,553 8,639,065 - -
Other Receivables 2,095,359 1,916,112 2,068,974 1,886,781 25 26
Inventories 1,857,517 1,855,574 1,837,156 1,837,296 5,324 4,358

Inventory Held for Distribution 363 282 363 282 - -
Inventory Held for Manufacturing 885,624 885,624 885,624 885,624 - -
Inventory Held for Consumption 332,034 324,044 311,730 305,767 5,324 4,358
and Equipment 6,201 17 6,201 17 - -
and Books 1,339 - 1,339 - - -
Non-Current Assets Held for Sale 988 - 988 - - -

Non-Current Assets Held for Sale 988 - 988 - - -
Other Current Assets 4,075,280 3,839,300 3,913,880 3,623,167 208,110 162,204

Advances 58,003 55,816 57,187 55,586 - -
Prepayments 2,086,729 1,659,317 1,927,908 1,445,435 191,712 145,814
Deposits 136,673 132,334 135,135 130,539 16,398 16,391
Restricted Fund 1,559,933 1,628,011 1,559,933 1,628,011 - -
Other Assets 233,943 363,823 233,717 363,597 - -
Non-Current Assets


Investments in Associates/Affiliates 18,689,797 18,770,006 18,520,261 18,628,745 - -

Investments in Associates/Affiliates 18,689,797 18,770,006 18,520,261 18,628,745 - -
Investments in Subsidiaries 409,315 448,988 409,315 448,988 - -

Investments in Subsidiaries 409,315 448,988 409,315 448,988 - -

Sinking Fund 52,053 54,501 52,053 54,501 - -
475
(in thousand pesos)

2017 2016 2017 2016 2017 2016
Receivables 12,695,541 18,167,866 12,094,665 17,569,501 - -

Loans and Receivable Accounts 9,785,295 11,848,969 9,775,480 11,830,369 - -
Inter-Agency Receivables 2,599,629 6,055,036 2,191,544 5,655,947 - -
Other Receivables 310,618 263,862 127,641 83,185 - -
Investment Property 118,388,547 74,906,342 118,045,343 74,227,276 451,662 432,260

Land and Buildings 118,338,638 74,863,450 117,995,433 74,184,384 451,662 432,260
Property, Plant and Equipment 196,928,689 205,673,365 187,819,937 197,031,988 1,080,028 917,209
Land 73,923,251 73,775,247 70,148,049 70,336,261 24,625 24,625
Land Improvements 20,042,394 19,963,625 19,842,948 19,743,360 8,967 9,854
Infrastructure Assets 33,757,080 38,175,848 33,651,857 38,008,097 635,426 594,830
Buildings and Other Structures 10,630,724 16,345,112 9,879,979 15,597,320 176,929 112,302
Leased Assets 717 744 - - - -
Leased Assets Improvements 103,707 109,655 - - - -
Heritage Assets 4,360 4,360 4,360 4,360 - -
Service Concession Assets 37,591,270 37,472,559 35,443,779 35,208,712 - -
Construction in Progress 12,788,764 12,319,379 11,246,521 11,131,032 174,026 115,437

Deferred Tax Assets 3,702,711 3,824,835 3,702,711 3,824,835 - -

Deferred Tax Assets 3,702,711 3,824,835 3,702,711 3,824,835 - -
Other Non-Current Assets 15,865,180 15,852,154 15,657,934 15,690,667 478 -

Prepayments 6,747,726 6,755,404 6,662,540 6,689,539 - -
Deposits 1,359,997 748,380 1,276,276 695,327 - -
Restricted Fund 3,249,655 3,589,235 3,214,302 3,556,234 - -
Other Assets 4,507,802 4,759,136 4,504,816 4,749,566 478 -
Total Assets 488,453,292 452,576,891 464,159,401 430,483,848 2,382,356 2,186,794
LIABILITIES
Current Liabilities

Payables 6,913,913 5,383,644 6,595,589 5,117,179 77,000 96,184



Deferred Credits/Unearned Income 1,054,381 432,100 951,229 330,241 82,027 75,691

Deferred Credits 970,437 320,226 873,718 223,508 13,555 (11)
Unearned Revenue/Income 83,944 111,873 77,510 106,734 68,472 75,702
476
(in thousand pesos)

2017 2016 2017 2016 2017 2016
Provisions 796,961 661,256 727,181 608,791 8,357 -

Provisions 796,961 661,256 727,181 608,791 8,357 -
Other Payables 6,151,944 4,800,638 6,129,118 4,768,825 - -

Other Payables 6,151,944 4,800,638 6,129,118 4,768,825 - -

Payables 8,969 13,463 8,969 13,463 - -
Bills/Bonds/Loans Payable 32,026,307 34,549,367 31,825,854 34,279,082 12,336 26,729




Deferred Credits 26,395,437 26,598,411 24,726,482 24,829,497 4,805 2,971
Provisions 909,016 761,281 909,016 761,281 5,476 -

Provisions 909,016 761,281 909,016 761,281 5,476 -

Other Payables 2,312,484 1,946,476 2,312,484 1,946,476 - -

Other Payables 2,312,484 1,946,476 2,312,484 1,946,476 - -
NET ASSETS/EQUITY
Government Equity 102,239,488 99,770,347 84,006,419 83,494,125 1,461,393 1,363,811

Revaluation Surplus 6,081,927 812,494 6,081,927 812,494 - -
477
(in thousand pesos)
BCDA BMHI CDC (Region 3)

2017 2016 2017 2016 2017 2016
ASSETS
Current Assets
Cash on Hand 425 263 501 347 9,660 18,308
Cash in Bank-Foreign Currency - - - - 14,292 5,733
Cash Equivalents 6,032,315 2,447,046 - - 1,726,353 2,272,984
Financial Assets 2,669,270 6,868,047 - - - -

Financial Assets-Held to Maturity 2,669,270 6,868,047 - - - -

Receivables 4,930,767 4,673,575 19,098 20,238 439,507 400,592

Loans and Receivable Accounts 1,464,898 1,393,499 1,824 517 112,534 103,409
Lease Receivables 734,019 707,608 - - 39,769 38,408
Inter-Agency Receivables 2,691,485 2,524,122 - - 249,845 225,301
Other Receivables 40,364 48,347 81 83 37,358 33,473
Inventories 631,899 645,544 - - 3,420 10,777

Inventory Held for Sale 631,899 645,544 - - - -
Inventory Held for Consumption - - - - 3,420 10,777
and Books - - - - - -


Advances - - - - 2,360 2,229
Prepayments 695,176 539,023 9,812 9,825 38,378 21,252
Deposits - - - - 8,627 8,510
Restricted Fund 1,422,292 1,422,289 - - - -
Other Assets 233,394 363,420 - - - -
Total Current Assets 16,691,252 17,032,321 279,601 279,982 2,350,690 2,820,692
Non-Current Assets
Financial Assets 7,022,062 4,522,564 - - 130,000 30,000

Financial Assets-Held to Maturity 7,022,062 4,522,564 - - 130,000 30,000

Investments in Associates/Affiliates 18,253,526 18,437,603 - - - -

Investments in Associates/Affiliates 18,253,526 18,437,603 - - - -

478
(in thousand pesos)

2017 2016 2017 2016 2017 2016
Receivables 8,117,200 9,890,928 - - - -

Loans and Receivable Accounts 6,741,766 7,327,889 - - - -
Inter-Agency Receivables 1,363,449 2,548,204 - - - -

Property, Plant and Equipment 30,004,991 29,041,555 2,988 3,307 3,725,787 3,292,241
Land - - - - - -
Land Improvements 1,146,472 1,169,230 - - 1,533,288 1,167,203
Infrastructure Assets - - - - 1,256,457 1,257,779
Machinery and Equipment 2,727 2,658 337 438 60,703 54,071
Transportation Equipment 34,776 45,011 150 183 47,669 15,296
Furniture, Fixtures and Books 19,727 17,396 37 50 19,141 16,538
Heritage Assets - - - - 843 843
Service Concession Assets 28,050,223 27,544,828 - - - -
Other Property, Plant and Equipment - - - - 215,903 311,490

Deferred Tax Assets 3,084,012 3,143,790 - - - -

Deferred Tax Assets 3,084,012 3,143,790 - - - -
Other Non-Current Assets 969,352 983,026 20,060 14,519 1,113,895 353,547

Prepayments 6,239 4,825 9,220 9,220 - -
Deposits 66,184 66,320 10,840 5,299 - -
Restricted Fund 26,457 26,639 - - 1,088,671 349,103
Other Assets 870,472 885,242 - - 25,224 4,444
Total Assets 159,416,063 127,881,622 316,547 311,706 7,357,260 6,520,212
LIABILITIES
Current Liabilities
Financial Liabilities 2,401,363 2,473,167 887 3,475 507,132 206,148

Payables 1,558,262 1,662,853 887 3,475 507,132 197,784
Bills/Bonds/Loans Payable 843,101 810,315 - - - 8,364
Inter-Agency Payables 4,788,530 5,019,614 - - 50,124 43,195

Inter-Agency Payables 4,788,530 5,019,614 - - 50,124 43,195
Intra-Agency Payables - - - - 7,535 10,002

Intra-Agency Payables - - - - 7,535 10,002


479
(in thousand pesos)

2017 2016 2017 2016 2017 2016
Provisions 21,508 20,153 - - - -

Provisions 21,508 20,153 - - - -
Other Payables 815,439 673,665 7,874 7,868 27,285 43,650

Other Payables 815,439 673,665 7,874 7,868 27,285 43,650
Financial Liabilities 19,391,317 19,447,550 - - - 12,546

Bills/Bonds/Loans Payable 19,391,317 19,447,550 - - - 12,546
Inter-Agency Payables - - 11,513 6,610 - -

Intra-Agency Payables - - 821 817 - -

Intra-Agency Payables - - 821 817 - -


Deferred Credits 7,351,391 6,439,136 2,276 2,276 1,382,759 1,332,878
Provisions - - - - 322,844 333,337

Provisions - - - - 322,844 333,337

Other Payables - - 1,721 1,721 - -

Other Payables - - 1,721 1,721 - -
Total Non-Current Liabilities 30,085,799 29,372,660 16,330 11,424 2,470,212 2,418,971
NET ASSETS/EQUITY
Revaluation Surplus 5,505,449 - - - - -
Retained Earnings/(Deficit) 15,797,976 14,994,413 11,456 8,939 1,386,976 922,627
Stockholders' Equity 100,000,000 75,327,952 280,000 280,000 2,813,507 2,813,507
480
(in thousand pesos)
CIAC (Region 3) JHMC (CAR) NORTHRAIL

2017 2016 2017 2016 2017 2016
ASSETS
Current Assets
Cash on Hand 4,530 2,426 174 150 - 54
Cash in Bank-Foreign Currency 33,289 10,064 641 638 1,985 2,652
Cash Equivalents 273,576 183,865 27,518 12,706 581,248 575,526
Other Investments - - 57,646 - - -

Investments in Time Deposits - - 57,646 - - -
Receivables 167,399 397,152 33,537 40,141 17,955 22,328

Loans and Receivable Accounts 93,661 89,756 189 267 7,193 7,855
Inter-Agency Receivables 71,572 306,357 357 376 1,412 1,356
Inventories 9,727 9,481 6,567 6,750 72 72

and Books - - - - - -


Advances - - - 5 - -
Prepayments 19,936 4,508 6,340 5,280 1,913 7,064
Deposits 9,397 8,916 6,846 2,131 445 445
Restricted Fund - - - - 118,143 118,947
Total Current Assets 680,065 701,014 193,389 130,679 726,513 733,630
Non-Current Assets
Financial Assets - - - - 164,763 167,625

Financial Assets-Held to Maturity - - - - 164,763 167,625

Other Investments 109,106 70,045 132 38,682 450 450

Sinking Fund 52,053 54,501 - - - -
Investments in Time Deposits 56,168 14,660 - 38,550 - -
Other Investments 884 884 132 132 450 450
481
(in thousand pesos)

2017 2016 2017 2016 2017 2016
Receivables - - 959 3,641 - -

Loans and Receivable Accounts - - 959 3,641 - -
Investment Property - - 18,939 - - -

Land and Buildings - - 18,939 - - -
Land - - - - - -
Buildings and Other Structures 779,120 815,374 2,906 18,334 - -
Construction in Progress 396,905 178,463 - 165 8,210,310 8,210,234
Intangible Assets 2,883 - 860 221 - -

Intangible Assets 2,883 - 860 221 - -

Other Non-Current Assets 14,236 2,545 6,882 11,272 11,349,397 12,421,847

Prepayments - - - - 6,557,544 6,556,821
Restricted Fund 2,506 2,545 - - 1,472,899 2,546,072
Other Assets 11,730 0 6,882 11,272 3,318,955 3,318,955
Total Assets 3,117,987 2,762,469 231,981 214,275 20,457,546 21,540,754
LIABILITIES
Current Liabilities

Payables 154,063 75,806 21,478 17,148 7,594 8,604
Tax Refunds Payable 127 225 - - - -
Inter-Agency Payables 50,831 103,098 4,105 5,196 749 1,184

Inter-Agency Payables 50,831 103,098 4,105 5,196 749 1,184

Trust Liabilities 65,337 22,330 262 181 - -

Trust Liabilities 65,337 22,330 262 181 - -
Deferred Credits/Unearned Income 39,507 27,085 143 53 - -

Deferred Credits 39,507 27,085 6 53 - -
Unearned Revenue/Income - - 137 - - -
482
(in thousand pesos)

2017 2016 2017 2016 2017 2016
Other Payables 13,755 14,313 0 - 465,064 464,056

Other Payables 13,755 14,313 0 - 465,064 464,056
Financial Liabilities 300,638 397,239 8,969 13,463 - 1,034,578

Payables - - 8,969 13,463 - -
Bills/Bonds/Loans Payable 300,638 397,239 - - - 1,034,578
Inter-Agency Payables 1,681,641 1,855,145 25 42 14,273,026 14,273,079

Inter-Agency Payables 1,681,641 1,855,145 25 42 14,273,026 14,273,079

Trust Liabilities 94,899 74,369 2,472 529 1,811,791 1,811,791

Trust Liabilities 94,899 74,369 2,472 529 1,811,791 1,811,791
Deferred Credits/Unearned Income 10,913 2,522 12 4,368 3,451,231 3,442,886

Deferred Credits 10,913 2,522 12 1,063 3,451,231 3,442,886
Unearned Revenue/Income - - - 3,306 - -

Other Payables - - 167 139 1,784,897 1,430,088

Other Payables - - 167 139 1,784,897 1,430,088
NET ASSETS/EQUITY
Government Equity 1,190,663 832,248 - - - -

Retained Earnings/(Deficit) (586,320) (783,820) (203,625) (225,331) (1,436,804) (1,025,511)
Total Net Assets/Equity 605,593 49,679 180,189 158,483 (1,336,804) (925,511)
483
(in thousand pesos)
PPMC (Region 1) CAAP CEZA

2017 2016 2017 2016 2017 2016
(Restated)
ASSETS
Current Assets
Cash on Hand 1,729 160 81,545 58,532 187 305
Cash in Bank-Foreign Currency - - 667,829 368,860 421,255 417,172
Cash Equivalents 6,994 6,937 2,702,301 4,288,847 - -
Financial Assets - - 1,352,703 - - -

Financial Assets-Held to Maturity - - 1,352,703 - - -
Other Investments 50,811 50,702 8,293,307 3,840,007 - -

Investments in Time Deposits 50,811 50,702 8,293,307 3,840,007 - -
Receivables 17,312 8,557 2,145,435 8,840,457 13,778 44,635

Loans and Receivable Accounts 1,966 1,479 1,943,685 8,614,867 13,162 44,253
Other Receivables 465 528 130,540 120,956 617 381
Inventories 2,198 1,326 76,635 60,262 - -

Inventory Held for Consumption 2,198 1,326 76,635 60,262 - -
and Books - - - - - -

Other Current Assets 2,133 3,056 153,038 99,680 268 405

Advances - - 46,595 47,464 - -
Prepayments 1,648 2,717 106,443 52,216 268 405
Deposits 169 169 - - - -
Other Assets 316 170 - - - -
Non-Current Assets
Financial Assets - - 500,000 - - -

Financial Assets-Held to Maturity - - 500,000 - - -
Investments in Joint Venture 15,000 15,000 - - 691,000 691,000

Investments in Joint Venture 15,000 15,000 - - 691,000 691,000
Other Investments 15 15 979,639 711,692 10,000 10,000

Other Investments 15 15 - - 10,000 10,000
484
(in thousand pesos)

2017 2016 2017 2016 2017 2016
(Restated)
Investment Property 78,027 71,010 - - 83,983 80,223

Land and Buildings 28,118 28,118 - - 83,983 80,223
Land - - 47,085,347 47,138,707 45,588 28,195
Land Improvements 14 14 1,467,053 1,585,217 576 25,407
Infrastructure Assets 26 26 6,512,338 9,421,499 4,039,950 4,254,210
Buildings and Other Structures 3,153 3,712 3,882,976 3,111,864 - -
Machinery and Equipment 1,280 1,539 2,788,757 2,151,699 8,131 14,591
Furniture, Fixtures and Books 329 249 45,097 45,328 - -
Construction in Progress - - 1,110,469 1,330,767 - 21,750
Deferred Tax Assets - - - - 5,993 -


Prepayments - - - - 228 -
Deposits - - 22,889 22,169 3,374 2,532
Other Assets 2,267 2,420 13,653 13,653 3,231 3,231
Total Assets 186,071 174,789 82,647,189 86,116,095 6,604,524 7,089,555
LIABILITIES
Current Liabilities

Payables 6,467 5,280 589,824 360,480 7,825 5,185
Tax Refunds Payable - - - - 235 -




485
(in thousand pesos)

2017 2016 2017 2016 2017 2016
(Restated)
Provisions - - 87,752 5,965 - -

Provisions - - 87,752 5,965 - -
Other Payables 7,355 7,442 - - 1,501 1,459

Other Payables 7,355 7,442 - - 1,501 1,459
Total Current Liabilities 77,887 73,620 3,956,030 6,839,885 10,687 360,277

Trust Liabilities - - 75,020 96,775 4,059 4,059

Deferred Credits/Unearned Income - - - - 792 1,034

Deferred Credits - - - - 792 1,034
Provisions - - 580,696 427,945 - -

Provisions - - 580,696 427,945 - -

Other Payables - - 36,564 18,520 - -

Other Payables - - 36,564 18,520 - -
Total Non-Current Liabilities 18,437 18,437 692,281 543,240 4,850 5,093
NET ASSETS/EQUITY

Retained Earnings/(Deficit) 6,603 (411) (8,513,230) (7,779,137) 833,845 969,044
Stockholders' Equity 83,144 83,144 50,000,000 50,000,000 5,755,142 5,755,142
486
(in thousand pesos)
NLPCSI MCIAA (Region 7) MIAA

2017 2016 2017 2016 2017 2016
ASSETS
Current Assets
Cash on Hand - - 16,700 6,209 120,695 205,142
Cash in Bank-Foreign Currency - - 17,126 (10,788) - -
Cash Equivalents - - 4,697,416 5,628,846 2,622,960 11,284,116
Financial Assets - - 1,317,088 - - -

Financial Assets-Held to Maturity - - 1,317,088 - - -
Other Investments 31,600 31,600 703,053 403,053 11,489,484 500,000

Investments in Time Deposits 31,600 31,600 - - 11,489,484 500,000
Receivables - - 216,927 217,576 1,974,058 2,390,760

Loans and Receivable Accounts - - 193,166 179,866 54,585 14,068
Inter-Agency Receivables - - 429 13,853 338,839 863,648
Other Receivables - - 23,333 23,858 1,580,634 1,513,044
Inventories - - 26,632 25,838 16,665 13,419

and Equipment - - 1,853 - - -
and Books - - 1,339 - - -

Other Current Assets - - 271,635 133,243 519,987 480,463

Advances - - 395 351 - -
Prepayments - - 271,240 132,892 432,451 392,168
Deposits - - - - 87,536 88,296
Non-Current Assets


487
(in thousand pesos)

2017 2016 2017 2016 2017 2016
Investment Property - - - - 38,651 41,271

Land and Buildings - - - - 38,651 41,271
Property, Plant and Equipment - - 5,315,637 5,395,037 35,936,674 37,161,051

Land - - 2,106,727 2,106,727 - -
Land Improvements - - 206,388 228,857 15,049,132 15,140,780
Infrastructure Assets - - 31,152 - 18,624,868 19,187,318
Buildings and Other Structures - - 2,495,692 2,454,649 100,016 85,560
Machinery and Equipment - - 18,861 - 2,162,658 2,284,600
Transportation Equipment - - 16,314 - - -
Furniture, Fixtures and Books - - 204,747 256,789 - -
Construction in Progress - - 235,756 348,014 - 462,792

Other Non-Current Assets - - 1,794 1,779 286,865 475,197

Deposits - - 1,581 1,566 - -
Restricted Fund - - - - 286,865 300,005
Other Assets - - 213 213 - 175,192
Total Non-Current Assets - - 5,317,431 5,396,816 36,860,454 38,344,976
Total Assets 42,898 42,791 13,066,724 12,568,813 54,622,861 54,275,764
LIABILITIES
Current Liabilities
Financial Liabilities 1,052 88 35,703 42,734 1,705,464 2,030,942

Payables - - 35,703 42,734 784,153 1,133,766
Bills/Bonds/Loans Payable 1,052 88 - - 885,949 866,565
Tax Refunds Payable - - - - 35,363 30,611
Inter-Agency Payables - - 467,786 272,680 1,249,182 1,152,787

Due to BSP/Other Banks/Others - - 272,587 266,516 - -


488
(in thousand pesos)

2017 2016 2017 2016 2017 2016
Provisions - - - - 131,846 110,768

Provisions - - - - 131,846 110,768
Other Payables - - 220,677 - 2,577,610 2,470,731

Other Payables - - 220,677 - 2,577,610 2,470,731
Total Current Liabilities 1,052 88 903,889 437,369 6,186,673 6,224,180
Financial Liabilities 2,017 3,069 - - 3,687,040 4,463,707

Bills/Bonds/Loans Payable 2,017 3,069 - - 3,687,040 4,463,707


Total Non-Current Liabilities 2,017 3,069 - - 4,267,329 5,063,308
NET ASSETS/EQUITY
Government Equity - - 2,895,736 2,895,736 15,461,553 15,461,553

Retained Earnings/(Deficit) (171) (366) 7,542,978 7,511,587 28,707,306 27,526,723
Stockholders' Equity 40,000 40,000 1,724,121 1,724,121 - -
489
(in thousand pesos)
MRHI (ARMM) NDC BLCI

2017 2016 2017 2016 2017 2016
(Restated)
ASSETS
Current Assets
Cash and Cash Equivalents 720 913 1,945 4,126 23,940 26,670
Cash on Hand 315 241 47 53 - -
Cash in Bank-Local Currency 405 672 1,773 3,599 1,770 1,783
Cash in Bank-Foreign Currency - - 125 474 - -
Cash Equivalents - - - - 22,170 24,887
Other Investments - - 2,133,232 2,012,919 2,445 -

Investments in Time Deposits - - 2,133,232 2,012,919 2,445 -
Receivables 324 1,336 246,720 215,983 56 80

Loans and Receivable Accounts 324 1,336 80,009 75,348 27 28
Inter-Agency Receivables - - 125,197 87,996 - -
Other Receivables - - 29,184 3,039 29 52
Inventories 6,195 6,186 1,075 1,012 - -

Inventory Held for Consumption 6,195 6,186 1,075 1,012 - -
and Books - - - - - -
Non-Current Assets Held for Sale - - - - 268 -

Non-Current Assets Held for Sale - - - - 268 -
Other Current Assets - - 22,311 90,188 21 57

Prepayments - - 954 1,656 21 57
Deposits - - 1,860 1,758 - -
Restricted Fund - - 19,498 86,775 - -
Non-Current Assets
Financial Assets - - - - 7 14
Financial Assets-Held to Maturity - - - - 7 14


Investments in Subsidiaries - - 402,315 441,988 - -


490
(in thousand pesos)

2017 2016 2017 2016 2017 2016
(Restated)
Receivables - - 2,817,811 4,270,991 - -

Loans and Receivable Accounts - - 2,808,811 4,259,739 - -
Investment Property - - 10,621,823 7,593,238 33,294 33,562

Land and Buildings - - 10,621,823 7,593,238 33,294 33,562
Property, Plant and Equipment 35,010 32,364 8,086 15,837 0 0

Land - - - - - -
Buildings and Other Structures 5,102 5,221 138 6,295 - -
Machinery and Equipment - - 4,385 5,625 0 0
Transportation Equipment - - - - - -
Furniture, Fixtures and Books 4,142 1,731 - - - -

Other Non-Current Assets 155 121 67,493 178,030 - -

Other Assets 155 121 67,493 178,030 - -
Total Assets 42,404 40,921 17,864,639 16,276,996 60,031 60,383
LIABILITIES
Current Liabilities
Financial Liabilities 179 317 2,707,776 3,821,940 - -

Payables 179 317 400,952 341,916 - -
Inter-Agency Payables 100 46 5,755 24,923 106 31

Inter-Agency Payables 100 46 5,755 24,923 106 31

Deferred Credits/Unearned Income - 255 7,941 14,770 12,593 12,623

Deferred Credits - - 7,941 14,770 12,593 12,623
Unearned Revenue/Income - 255 - - - -
491
(in thousand pesos)

2017 2016 2017 2016 2017 2016
(Restated)
Provisions - - 160,835 160,049 - -

Provisions - - 160,835 160,049 - -
Other Payables 77 220 - - 485 576

Other Payables 77 220 - - 485 576
Total Current Liabilities 356 838 2,914,865 4,209,507 14,991 15,036
Financial Liabilities 2,000 - - - - -

Bills/Bonds/Loans Payable 2,000 - - - - -


Deferred Tax Liabilities - - 2,521,500 1,759,175 - -

Deferred Tax Liabilities - - 2,521,500 1,759,175 - -
Other Payables 14 14 - 6,882 - -

Other Payables 14 14 - 6,882 - -
Total Non-Current Liabilities 2,014 14 2,560,878 1,808,213 - -
Total Liabilities 2,370 852 5,475,742 6,017,720 14,991 15,036
NET ASSETS/EQUITY
Government Equity 7,233 7,526 - - - -

Revaluation Surplus 22,050 22,050 28,883 28,883 - -
Retained Earnings/(Deficit) 10,751 10,494 3,757,210 1,627,589 8,417 8,723
Stockholders' Equity - - 8,602,803 8,602,803 36,623 36,623
492
(in thousand pesos)
FCIEI GYREI IIGSI

2017 2016 2017 2016 2017 2016
ASSETS
Current Assets
Cash and Cash Equivalents 1,832 1,834 52,297 52,808 115 114
Cash on Hand - - - - - -
Cash in Bank-Local Currency 194 565 8,751 1,847 - -
Cash Equivalents 1,638 1,268 43,546 50,961 115 114
Receivables 1,088 1,756 1,079 32,470 0 0

Loans and Receivable Accounts 719 819 79 45 0 0
Lease Receivables - 638 930 32,425 - -
Inter-Agency Receivables 126 2 - - - -
Other Receivables 243 298 70 - - -
Inventories - - - - - -
Inventory Held for Consumption - - - - - -
and Books - - - - - -

Other Current Assets - - 5 8 - -

Prepayments - - 5 8 - -
Total Current Assets 2,920 3,590 53,382 85,285 115 114
Non-Current Assets

493
(in thousand pesos)
FCIEI GYREI IIGSI

2017 2016 2017 2016 2017 2016
Investment Property - - 9,086 9,086 - -

Land and Buildings - - 9,086 9,086 - -
Property, Plant and Equipment 0 0 - - 18,651 18,651

Land 0 0 - - 18,651 18,651
Buildings and Other Structures - - - - - -
Machinery and Equipment - - - - - -
Furniture, Fixtures and Books - - - - - -

Other Non-Current Assets 2,794 2,782 3 3 - -

Deposits 1,596 1,596 - - - -
Other Assets 1,197 1,185 3 3 - -
Total Assets 5,714 6,372 62,471 94,375 18,766 18,765
LIABILITIES
Current Liabilities
Financial Liabilities 22 8 - - - -
Payables 22 8 - - - -

Trust Liabilities - - 504 504 - -

Trust Liabilities - - 504 504 - -
Deferred Credits/Unearned Income 88 - - - - -

Unearned Revenue/Income 88 - - - - -
494
(in thousand pesos)
FCIEI GYREI IIGSI

2017 2016 2017 2016 2017 2016
Other Payables - - 406 628 212 -

Other Payables - - 406 628 212 -
Inter-Agency Payables - - - 7,178 - -

Inter-Agency Payables - - - 7,178 - -


Total Non-Current Liabilities - - - 7,178 - -
Total Liabilities 12,786 13,122 2,393 9,624 76,126 75,745
NET ASSETS/EQUITY
Revaluation Surplus - - - - 18,407 18,407
Retained Earnings/(Deficit) (17,073) (16,751) 50,992 75,664 (80,068) (79,688)
Total Net Assets/Equity (7,073) (6,751) 60,078 84,751 (57,360) (56,980)
Total Liabilities and Net Assets/Equity 5,714 6,372 62,471 94,375 18,766 18,765
495
(in thousand pesos)
KRC MGC NPIC

2017 2016 2017 2016 2017 2016
ASSETS
Current Assets
Cash on Hand - - - - - -
Cash in Bank-Local Currency 2,896 4,460 1,394 40,635 208 210
Other Investments 13,107 - - - - -

Investments in Time Deposits 13,107 - - - - -
Receivables 7,666 6,193 63,927 437 7 48

Loans and Receivable Accounts 45 9 63,927 437 7 48
Inventories - - - 63 - -
Inventory Held for Sale - - - 63 - -
Inventory Held for Consumption - - - - - -
and Books - - - - - -
Non-Current Assets Held for Sale 720 - - - - -

Non-Current Assets Held for Sale 720 - - - - -
Other Current Assets 10 16 - - - -

Prepayments 10 16 - - - -
Non-Current Assets

Investments in Associates/Affiliates - - 1 1 - -
Investments in Associates/Affiliates - - 1 1 - -
496
(in thousand pesos)
KRC MGC NPIC

2017 2016 2017 2016 2017 2016
Receivables - - 18,554 18,765 - -


Property, Plant and Equipment - - - 158,545 - -

Land - - - 158,545 - -
Buildings and Other Structures - - - - - -
Machinery and Equipment - - - - - -
Furniture, Fixtures and Books - - - - - -

Other Non-Current Assets - - 973 936 - -

Prepayments - - 1,067 1,031 - -
Deposits - - 41 41 - -
Other Assets - - (135) (135) - -
Total Non-Current Assets 4,859 5,939 19,527 178,247 - -
Total Assets 48,450 29,076 129,960 267,467 50,882 50,611
LIABILITIES
Current Liabilities
Financial Liabilities - - 498 498 - -

Payables - - 498 498 - -
Inter-Agency Payables 525 509 49 47 - -

Inter-Agency Payables 525 509 49 47 - -
Trust Liabilities 788 3,538 - - - -


497
(in thousand pesos)
KRC MGC NPIC

2017 2016 2017 2016 2017 2016
Other Payables 95 602 487 1,364 4 2

Other Payables 95 602 487 1,364 4 2
Total Current Liabilities 4,697 7,785 1,035 1,909 4 2


Total Non-Current Liabilities - - - - - -
Total Liabilities 4,697 7,785 1,035 1,909 4 2
NET ASSETS/EQUITY
Revaluation Surplus - - - 158,375 - -
Retained Earnings/(Deficit) 37,021 14,559 48,925 (12,817) (29,122) (29,392)
Total Net Assets/Equity 43,753 21,291 128,925 265,558 50,878 50,608
498
(in thousand pesos)
PRC PEZA PIA (Region 10)

2017 2016 2017 2016 2017 2016
ASSETS
Current Assets
Cash and Cash Equivalents 1,717 1,617 329,918 349,850 922,010 1,000,002
Cash on Hand - - 8,036 10,237 1,034 829
Cash in Bank-Local Currency 714 615 - - 195,866 280,648

Receivables 546 696 396,271 387,662 831,462 949,946

Loans and Receivable Accounts 1 2 390,827 383,881 709,134 859,168
Lease Receivables 545 694 - - - -
Inter-Agency Receivables - - 595 640 27,911 28,105
Other Receivables - - 4,850 3,140 94,417 62,672
Inventories - - 11,480 7,650 44,905 44,758

Inventory Held for Distribution - - 362 280 - -
and Equipment - - 4,348 17 - -
and Books - - - - - -

Other Current Assets 6 6 41,372 45,054 326 155

Advances - - 5,140 4,351 326 155
Prepayments 6 6 36,232 40,702 - -
Non-Current Assets
Investments in Joint Venture - - - - 81 81

Investments in Joint Venture - - - - 81 81

499
(in thousand pesos)

2017 2016 2017 2016 2017 2016
Investment Property 2,252 2,252 109,673 115,966 1,108,986 1,088,158

Land and Buildings 2,252 2,252 109,673 115,966 1,108,986 1,088,158
Property, Plant and Equipment - - 4,940,122 4,753,786 2,659,534 3,402,587

Land - - 4,246,795 4,012,565 7,409 7,409
Infrastructure Assets - - - - 2,382,870 3,123,665
Machinery and Equipment - - 90,081 99,598 14,673 13,199
Transportation Equipment - - - - 10,363 11,779
Furniture, Fixtures and Books - - 119,445 127,375 324 292
Construction in Progress - - 22,048 20,633 16,864 28,951



Prepayments - - - - 88,241 117,643
Deposits - - 30,556 30,544 30,154 30,786
Restricted Fund - - 141,084 168,502 - -
Other Assets - - 5,214 5,679 40,030 10,241
Total Assets 4,521 4,570 8,047,708 7,242,474 5,750,237 6,668,865
LIABILITIES
Current Liabilities
Financial Liabilities - - 283,573 231,764 194,598 156,601

Payables - - 273,337 221,926 56,304 17,208
Bills/Bonds/Loans Payable - - 10,237 9,838 129,878 129,878
Other Financial Liabilities - - - - 8,417 9,515
Inter-Agency Payables 157 95 192,555 195,751 1,013,338 1,205,807

Inter-Agency Payables 157 95 192,555 195,751 1,013,338 1,205,807



500
(in thousand pesos)

2017 2016 2017 2016 2017 2016
Provisions - - 316,884 311,856 - -

Provisions - - 316,884 311,856 - -
Other Payables - - 28,079 16,446 - -

Other Payables - - 28,079 16,446 - -
Total Current Liabilities 157 95 1,028,375 934,676 1,316,455 1,507,693
Financial Liabilities - - 87,012 93,464 2,446,806 2,591,577

Bills/Bonds/Loans Payable - - 87,012 93,464 2,446,806 2,591,577
Deferred Credits/Unearned Income - - 221,078 171,793 1,127,598 1,211,606


Other Payables 28 20 - - - -
Total Non-Current Liabilities 28 20 308,090 265,257 3,574,404 3,803,183
Total Liabilities 185 115 1,336,466 1,199,934 4,890,859 5,310,876
NET ASSETS/EQUITY
Government Equity - - 2,136,008 2,136,008 200,000 200,000

Retained Earnings/(Deficit) 2,084 2,204 4,575,235 3,906,533 659,379 1,157,989
Total Net Assets/Equity 4,336 4,456 6,711,242 6,042,541 859,379 1,357,989
501
(in thousand pesos)
PNCC ASDI CDCP-FC

2017 2016 2017 2016 2017 2016
(Restated)
ASSETS
Current Assets
Cash and Cash Equivalents 789,028 591,046 3,624 5,384 567 567
Cash on Hand 350 250 - - - -
Cash in Bank-Local Currency 145,118 172,959 1,359 984 412 411
Cash Equivalents 643,560 417,836 2,265 4,400 156 156
Receivables 446,206 328,313 9,073 8,993 124 649

Loans and Receivable Accounts 203,389 140,006 3,806 3,768 - -
Inter-Agency Receivables 150,950 150,409 4,226 4,226 - 523
Inventories 3,421 4,404 - - - -

Inventory Held for Consumption 3,421 4,404 - - - -
and Books - - - - - -

Other Current Assets 18,785 13,603 9,790 9,783 - -

Prepayments 18,785 13,603 9,783 9,776 - -
Other Assets - - 7 7 - -
Total Current Assets 1,257,440 937,366 22,487 24,160 691 1,215
Non-Current Assets
Financial Assets - - 100,000 100,000 - -



502
(in thousand pesos)
PNCC ASDI CDCP-FC

2017 2016 2017 2016 2017 2016
(Restated)

Property, Plant and Equipment 665,180 780,275 31 31 20,806 19,118

Land 641,070 756,746 - - 20,806 19,118
Land Improvements - - - - 0 0
Machinery and Equipment 797 795 23 23 0 0
Transportation Equipment 181 506 - - - -
Furniture, Fixtures and Books - - 8 8 - -
Other Property, Plant and Equipment 285 132 - - 0 0

Other Non-Current Assets 189,823 189,900 - - - -

Deposits 72,253 72,253 - - - -
Other Assets 117,570 117,647 - - - -
Total Non-Current Assets 16,547,225 12,593,167 100,031 100,031 20,806 19,118
Total Assets 17,804,665 13,530,533 122,518 124,190 21,497 20,333
LIABILITIES
Current Liabilities
Financial Liabilities 20,173 17,738 - - - -

Payables 20,173 17,738 - - - -
Inter-Agency Payables 9,292,952 9,032,818 16 18 - -

Inter-Agency Payables 9,292,952 9,032,818 16 18 - -


503
(in thousand pesos)
PNCC ASDI CDCP-FC

2017 2016 2017 2016 2017 2016
(Restated)
Other Payables - - - - 18 18
Other Payables - - - - 18 18
Total Current Liabilities 9,381,308 9,093,645 16 18 18 18
Inter-Agency Payables - - - - 33,531 33,522



Deferred Tax Liabilities 4,595,208 3,408,693 - - - -

Deferred Tax Liabilities 4,595,208 3,408,693 - - - -
Total Non-Current Liabilities 4,598,998 3,412,482 - - 33,531 33,522
Total Liabilities 13,980,306 12,506,127 16 18 33,549 33,540
NET ASSETS/EQUITY
Retained Earnings/(Deficit) (4,439,268) (7,318,551) 2,502 4,172 (47,677) (47,145)
Stockholders' Equity 7,808,763 7,808,763 120,000 120,000 15,120 15,120
Total Net Assets/Equity 3,824,359 1,024,406 122,502 124,172 (12,052) (13,207)
Total Liabilities and Net Assets/Equity 17,804,665 13,530,533 122,518 124,190 21,497 20,333
504
(in thousand pesos)
DCBGSI PRecA PEATC

2017 2016 2017 2016 2017 2016
ASSETS
Current Assets
Cash on Hand 5 5 442 228 2,983 3,108
Cash in Bank-Local Currency 12,558 15,035 - - 12,790 9,084
Cash Equivalents - - 3,579,806 4,739,414 29,211 106,504

Financial Assets-Held to Maturity - - 5,667,881 2,960,088 - -
Receivables 86,495 88,270 3,717,694 4,495,573 1,389 976

Loans and Receivable Accounts 500 500 253,886 251,134 378 345
Inter-Agency Receivables 81,535 83,302 3,461,287 4,240,138 - -
Other Receivables 4,460 4,468 2,521 4,301 1,011 631
Inventories 100 104 885,624 885,624 205 205

Inventory Held for Distribution 2 2 - - - -
Inventory Held for Manufacturing - - 885,624 885,624 - -
Inventory Held for Consumption 98 102 - - 205 205
and Books - - - - - -


Advances - - 165 183 - -
Prepayments 699 661 76,796 46,176 4,315 4,926
Deposits - - 157 222 - -
Non-Current Assets




Investments in Time Deposits - - - - 139,543 57,494
Other Investments - - 2,226 2,226 86 86
505
(in thousand pesos)
DCBGSI PRecA PEATC

2017 2016 2017 2016 2017 2016
Receivables - - 809,541 3,088,978 - -

Inter-Agency Receivables - - 809,541 3,088,978 - -
Investment Property - - 9,369,579 9,369,579 - -

Land and Buildings - - 9,369,579 9,369,579 - -
Land - - - - - -
Machinery and Equipment 174 192 - - 206 206
Transportation Equipment 253 253 2,719 3,239 5 5
Service Concession Assets - - 7,393,556 7,663,883 - -
Intangible Assets - - 765 895 - -

Intangible Assets - - 765 895 - -

Other Non-Current Assets 8,043 7,299 117 117 4,180 4,180

Deposits 131 131 - - 89 89
Other Assets 7,912 7,169 117 117 4,091 4,091
Total Assets 110,070 113,666 31,613,692 33,406,288 221,524 213,508
LIABILITIES
Current Liabilities
Financial Liabilities 4,057 7,464 1,348,722 755,962 1,915 2,056

Payables 4,057 7,464 1,348,722 755,962 1,127 2,052
Tax Refunds Payable - - - - 5 5
Other Financial Liabilities - - - - 783 -



506
(in thousand pesos)
DCBGSI PRecA PEATC

2017 2016 2017 2016 2017 2016
Other Payables - - 793,807 341,179 1,391 827

Other Payables - - 793,807 341,179 1,391 827
Inter-Agency Payables 48,818 48,809 - - 201,050 196,957

Inter-Agency Payables 48,818 48,809 - - 201,050 196,957
Deferred Credits/Unearned Income - - 8,416,439 9,552,706 - -

Deferred Credits - - 8,395,942 9,500,546 - -
Deferred Tax Liabilities - - 376,944 1,121,448 - -

Deferred Tax Liabilities - - 376,944 1,121,448 - -
Other Payables - - 489,093 489,093 - -

Other Payables - - 489,093 489,093 - -
NET ASSETS/EQUITY

Retained Earnings/(Deficit) (39,819) (39,620) 16,715,553 17,115,278 2,271 2,264
Stockholders' Equity 97,014 97,014 - - 2,000 2,000
507
(in thousand pesos)
SBMA (Region 3) ZCSEZA (Region 9) Non-GBE

2017 2016 2017 2016 2017 2016
(Restated)
ASSETS
Current Assets
Cash and Cash Equivalents 673,706 1,965,494 8,703 23,246 4,521,105 1,287,247
Cash on Hand 6,924 4,031 244 189 51,183 39,423
Cash in Bank-Foreign Currency 334,627 1,262,327 - - 798 738
Cash Equivalents 197,294 - - - 2,583,207 8,000
Financial Assets - - - - 171,705 -

Financial Assets-Held to Maturity - - - - 171,705 -

Investments in Time Deposits - - - - 7,841,358 9,579,556
Receivables 836,627 301,883 42,902 21,416 380,035 351,962

Inter-Agency Receivables - - 62 - 401 396
Other Receivables - - 626 608 26,384 29,331
Inventories 104,253 109,149 759 311 20,362 18,277

Inventory Held for Sale - - - - 57 -
Inventory Held for Consumption 104,253 109,149 759 311 20,304 18,277
and Books - - - - - -


Advances - - 2,206 848 816 230
Prepayments 3,688 8,123 1,295 6,564 158,821 213,882
Deposits 3,514 3,514 188 188 1,537 1,795
Other Assets - - - - 226 226
Non-Current Assets
Financial Assets 120,000 - 1,000 - 752,242 402,242

Financial Assets-Held to Maturity 120,000 - 1,000 - 752,242 402,242

Investments in Associates/Affiliates 5,999 5,999 - - 169,537 141,262

Investments in Associates/Affiliates 5,999 5,999 - - 169,537 141,262
Other Investments 3,635,406 2,279,030 - - 16,069 16,069

Investments in Time Deposits 3,635,406 2,279,030 - - - -
508
(in thousand pesos)

2017 2016 2017 2016 2017 2016
(Restated)
Receivables 330,601 296,199 - - 600,876 598,365

Loans and Receivable Accounts 223,944 239,101 - - 9,815 18,600
Other Receivables 106,657 57,098 - - 182,976 180,677
Investment Property 6,216,974 - - - 343,204 679,066

Land and Buildings 6,216,974 - - - 343,204 679,066
Land 15,949,032 16,062,975 2,000 2,000 3,775,203 3,438,986
Infrastructure Assets - - 168,770 168,770 105,223 167,751
Buildings and Other Structures 1,114,283 7,614,133 232,350 243,094 750,745 747,792
Furniture, Fixtures and Books - - 3,506 3,843 10,657 13,076
Leased Assets - - - - 717 744
Leased Assets Improvements - - - - 103,707 109,655
Heritage Assets 3,517 3,517 - - - -
Service Concession Assets - - - - 2,147,490 2,263,847
Construction in Progress - - 157,319 99,684 1,542,243 1,188,347

Other Non-Current Assets 1,240,291 632,523 182 3,642 207,246 161,488

Prepayments - - - - 85,186 65,865
Deposits 1,036,588 462,001 - - 83,721 53,052
Restricted Fund 195,820 163,369 - - 35,352 33,000
Other Assets 7,882 7,154 182 3,642 2,986 9,570
Total Assets 31,070,022 30,018,781 659,620 610,034 24,293,891 22,093,043
LIABILITIES
Current Liabilities
Financial Liabilities 1,247,588 700,711 6,323 5,926 408,649 352,505

Payables 733,509 136,867 6,323 5,926 318,324 266,465
Bills/Bonds/Loans Payable 514,079 563,844 - - 90,325 86,040

Intra-Agency Payables - - - - 608 608



Deferred Credits 636,956 76,450 - - 96,719 96,719
509
(in thousand pesos)

2017 2016 2017 2016 2017 2016
(Restated)
Provisions - - - - 69,780 52,465

Provisions - - - - 69,780 52,465
Other Payables 1,166,897 723,286 599 494 22,826 31,814

Other Payables 1,166,897 723,286 599 494 22,826 31,814
Total Current Liabilities 3,321,251 1,788,918 16,664 20,347 2,692,313 2,389,357
Financial Liabilities 5,896,688 6,208,624 - - 200,454 270,285




Deferred Credits 3,070,665 3,070,320 1,279 1,464 1,668,955 1,768,914

NET ASSETS/EQUITY
Government Equity 19,986,382 19,980,740 907,069 856,120 18,233,069 16,276,223

Retained Earnings/(Deficit) (1,943,865) (1,713,821) (265,392) (267,897) - -
Stockholders' Equity - - - - 383,445 383,443
510
(in thousand pesos)
APECO (Region 3) LLDA PDA (Region 5)

2017 2016 2017 2016 2017 2016
(Restated)
ASSETS
Current Assets
Cash on Hand 11 - 1,564 364 288 105
Receivables 14,510 15,007 22,946 24,694 22,690 20,902

Inter-Agency Receivables - - - - 394 395
Inventories 93 - 2,079 1,798 4,303 2,433

Inventory Held for Sale 57 - - - - -
Inventory Held for Consumption 35 - 2,079 1,798 4,303 2,433
and Books - - - - - -


Advances - - 816 230 - -
Prepayments 55,106 67,885 781 707 524 707
Deposits 350 410 1,032 1,034 3 3
Other Assets - - 50 50 - -
Non-Current Assets

511
(in thousand pesos)

2017 2016 2017 2016 2017 2016
(Restated)
Land 163,613 155,683 4,213 4,320 4,489 4,489
Land Improvements - - - - 139 155
Infrastructure Assets 87,706 87,095 - - 4,109 3,302
Leased Assets 506 521 - - - -
Leased Assets Improvements - - 89 89 - 0
Other Property, Plant and Equipment 257 137 - - 288,108 291,185

Other Non-Current Assets - - 35,352 33,000 926 926

Restricted Fund - - 35,352 33,000 - -
Other Assets - - - - 926 926
Total Assets 1,028,254 956,007 865,801 829,774 447,663 464,655
LIABILITIES
Current Liabilities

Payables 6,894 5,794 111,615 94,590 14,020 5,698
Inter-Agency Payables 1,240 1,200 26,461 35,744 1,040,556 1,016,999

Inter-Agency Payables 1,240 1,200 26,461 35,744 1,040,556 1,016,999

Trust Liabilities 12,036 6,536 - - 642 511

Trust Liabilities 12,036 6,536 - - 642 511

512
(in thousand pesos)

2017 2016 2017 2016 2017 2016
(Restated)
Other Payables - - 1,722 9,954 12 18

Other Payables - - 1,722 9,954 12 18
Financial Liabilities - - - - - 52,149

Bills/Bonds/Loans Payable - - - - - 52,149

Deferred Credits/Unearned Income - - 23,854 27,971 723 10

Deferred Credits - - 23,854 27,971 723 10

Total Non-Current Liabilities - - 63,436 69,621 723 52,159
NET ASSETS/EQUITY
Government Equity 1,008,084 942,477 289,972 247,272 (665,152) (663,485)

Stockholders' Equity - - 372,594 372,592 - -
Total Net Assets/Equity 1,008,084 942,477 662,567 619,864 (665,152) (663,485)
Total Liabilities and Net Assets/Equity 1,028,254 956,007 865,801 829,774 447,663 464,655
513
(in thousand pesos)
SCAD (Region 3) SPDA (Region 11) TIEZA

2017 2016 2017 2016 2017 2016
ASSETS
Current Assets
Cash and Cash Equivalents 2,279 536 11,063 10,285 3,872,130 645,795
Cash on Hand 20 0 224 117 48,865 38,692
Cash in Bank-Local Currency 2,259 536 10,840 10,168 1,247,303 606,413
Cash in Bank-Foreign Currency - - - - 798 690
Cash Equivalents - - - - 2,575,164 -


Receivables 101 141 40,166 41,884 274,529 245,842

Other Receivables 94 140 2,449 5,260 2,223 925
Inventories 43 32 901 919 12,786 12,887

and Books - - - - - -

Other Current Assets 49 135 4,541 814 96,382 141,517

Prepayments 47 133 4,213 486 96,382 141,517
Deposits - - 153 153 - -
Other Assets 2 2 175 175 - -
Total Current Assets 2,472 844 56,672 53,901 12,268,888 10,625,597
Non-Current Assets


Investments in Associates/Affiliates - - 5,180 5,180 164,357 136,082

Investments in Associates/Affiliates - - 5,180 5,180 164,357 136,082

514
(in thousand pesos)

2017 2016 2017 2016 2017 2016
Receivables - - - - 600,876 598,365

Loans and Receivable Accounts - - - - 9,815 18,600
Other Receivables - - - - 182,976 180,677

Property, Plant and Equipment 229 201 67,150 72,176 7,401,867 7,014,688
Land - - 9,527 9,527 3,593,360 3,264,966
Infrastructure Assets - - - - 13,408 77,355
Machinery and Equipment 221 190 380 466 117,637 143,072
Transportation Equipment - - 553 646 13,277 6,399
Leased Assets - - 211 223 - -
Service Concession Assets - - - - 2,147,490 2,263,847

Other Non-Current Assets - - - - 170,789 126,129

Prepayments - - - - 85,186 65,865
Deposits - - - - 83,600 52,931
Other Assets - - - - 2,003 7,332
Total Non-Current Assets 229 201 78,363 83,388 9,443,372 8,966,607
Total Assets 2,700 1,045 135,035 137,289 21,712,260 19,592,204
LIABILITIES
Current Liabilities
Financial Liabilities 17 49 10,098 6,121 208,184 186,336

Payables 17 49 10,098 6,121 174,112 152,445

Trust Liabilities - - - - - 32,583

Trust Liabilities - - - - - 32,583

515
(in thousand pesos)

2017 2016 2017 2016 2017 2016
Provisions - - - - 68,269 50,669

Provisions - - - - 68,269 50,669
Other Payables - - 1 128 21,091 21,714

Other Payables - - 1 128 21,091 21,714
Total Current Liabilities 181 94 23,705 20,077 1,392,681 1,135,276
Financial Liabilities - - - - 200,454 218,136



Deferred Credits/Unearned Income - - 163 - 1,663,223 1,760,271

Deferred Credits - - 163 - 1,644,215 1,740,933

Total Non-Current Liabilities - - 163 - 2,919,195 2,920,801
Total Liabilities 181 94 23,867 20,077 4,311,876 4,056,076
NET ASSETS/EQUITY
Government Equity 2,519 951 111,167 117,212 17,389,534 15,525,278

Total Net Assets/Equity 2,519 951 111,167 117,212 17,400,385 15,536,128
Total Liabilities and Net Assets/Equity 2,700 1,045 135,035 137,289 21,712,260 19,592,204
516
(in thousand pesos)
CFI
2017 2016
(Restated)
ASSETS
Current Assets
Cash and Cash Equivalents 9,852 10,649

Cash on Hand 212 145
Cash in Bank-Local Currency 1,597 2,456
Cash in Bank-Foreign Currency - 48
Cash Equivalents 8,044 8,000
Financial Assets - -
Financial Assets-Held to Maturity - -
Investments in Time Deposits - -

Inter-Agency Receivables - -
Other Receivables 343 288
Inventories 157 209

Inventory Held for Sale - -
Inventory Held for Distribution - -
Inventory Held for Manufacturing - -
Inventory Held for Consumption 157 209
and Equipment - -
and Books - -

Other Current Assets 1,766 2,642

Advances - -
Deposits - 195
Restricted Fund - -
Other Assets - -
Total Current Assets 16,869 16,991
Non-Current Assets
Investments in Joint Venture - -

Sinking Fund - -
517
(in thousand pesos)
CFI
2017 2016
(Restated)
Receivables - -
Loans and Receivable Accounts - -
Other Receivables - -
Investment Property - -
Land and Buildings - -
Property, Plant and Equipment 85,132 93,645

Land - -
Land Improvements - -
Infrastructure Assets - -
Buildings and Other Structures - -
Machinery and Equipment 2,560 3,389
Transportation Equipment 465 653
Furniture, Fixtures and Books - -
Leased Assets - -
Leased Assets Improvements 81,930 88,995
Heritage Assets - -
Service Concession Assets - -
Other Property, Plant and Equipment 177 608
Intangible Assets - -
Deferred Tax Assets - -

Other Non-Current Assets 178 1,433

Prepayments - -
Deposits 121 121
Restricted Fund - -
Other Assets 57 1,312
Total Non-Current Assets 85,310 95,078
Total Assets 102,179 112,069
LIABILITIES
Current Liabilities

Payables 1,569 1,768
Bills/Bonds/Loans Payable - -
Tax Refunds Payable - -
Other Financial Liabilities - -
Inter-Agency Payables 608 498

Inter-Agency Payables 608 498
Due to BSP/Other Banks/Others - -
Trust Liabilities - 48
Trust Liabilities - 48
Deferred Credits/Unearned Income - -

Deferred Credits - -
Unearned Revenue/Income - -
518
(in thousand pesos)
CFI
2017 2016
(Restated)
Provisions 1,511 1,796

Provisions 1,511 1,796
Other Payables - -
Other Payables - -
Total Current Liabilities 3,688 4,110
Payables - -
Inter-Agency Payables - -
Trust Liabilities 1,547 1,440


Provisions - -
Provisions - -
Deferred Tax Liabilities - -

Other Payables - -
Other Payables - -
Total Non-Current Liabilities 1,547 1,440
Total Liabilities 5,235 5,550
NET ASSETS/EQUITY
Government Equity 96,944 106,519

Revaluation Surplus - -
Retained Earnings/(Deficit) - -
Stockholders' Equity - -
Total Net Assets/Equity 96,944 106,519
Total Liabilities and Net Assets/Equity 102,179 112,069

519
(in thousand pesos)
TOTAL GBE FTI

2017 2016 2017 2016 2017 2016
ASSETS
Current Assets
Cash and Cash Equivalents 22,485,519 17,750,321 6,093,332 3,218,395 1,426,794 194,444
Cash on Hand 151,423 117,206 10,937 7,918 396 596
Cash in Bank-Local Currency 15,113,670 13,255,164 843,805 732,702 18,947 15,595
Cash in Bank-Foreign Currency 518,146 246,777 23,192 19,970 - -
Cash Equivalents 6,676,989 4,108,964 5,215,398 2,457,804 1,407,451 178,252
Financial Assets 566,424 519,643 533,404 481,005 - -

Sale Securities 533,404 481,005 533,404 481,005 - -
Other Investments 7,012,042 386,989 - 386,907 - -

Sinking Fund 7,011,960 386,907 - 386,907 - -
Receivables 344,708,282 399,448,669 1,678,092 1,113,399 556,553 38,535

Inter-Agency Receivables 18,931,297 15,842,181 889,926 372,150 519,054 467
Intra-Agency Receivables 301,337,134 357,448,749 5,332 5,050 - -
Inventories 4,108,937 15,795,268 25,033 23,942 734 756

Inventory Held for Sale 3,228,406 13,177,058 - - - -
Inventory Held for Manufacturing 325,175 2,052,748 - - - -
and Equipment 28,589 20,981 1,786 295 32 -
and Books 6,169 3,662 672 228 - -

Advances 70,221 76,860 8,062 7,043 424 -
Prepayments 4,278,877 2,620,541 63,647 91,896 10,325 12,237
Deposits 100,282 93,674 9,746 9,120 3,296 4,416
Restricted Fund 17,028 15,693 17,028 15,693 17,028 15,693
Other Assets 223,975 308,188 244 290 0 0
Total Current Assets 383,571,584 437,015,845 8,428,589 5,347,691 2,015,152 266,081
Non-Current Assets
Financial Assets 2,032,196 1,619,601 2,031,122 1,618,410 295,000 256,746

Financial Assets-Held to Maturity 2,032,196 1,619,601 2,031,122 1,618,410 295,000 256,746
Other Investments 70,951,629 72,346,875 405,683 343,972 271,686 200,000

Sinking Fund - 4,407,889 - - - -
Investments in Time Deposits 271,686 200,000 271,686 200,000 271,686 200,000
Receivables 594,252 610,687 521,159 510,459 - -

Loans and Receivable Accounts 554,667 546,345 486,096 455,572 - -
Inter-Agency Receivables 911 22,161 911 20,911 - -
Investment Property 63,752 64,625 7,835 8,515 - -

Land and Buildings 63,752 64,625 7,835 8,515 - -
520
(in thousand pesos)
TOTAL GBE FTI

2017 2016 2017 2016 2017 2016
Land 12,427,600 12,953,865 5,895,642 6,414,402 5,831,335 6,350,095
Infrastructure Assets 77,907,107 65,114,866 671,177 11,451 1,581 173
Heritage Assets 169 169 - - - -
Service Concession Assets 95 95 - - - -
Exploration and Evaluation Assets 248,448 261,547 248,448 261,547 - -
Other Property, Plant and Equipment 685,885 183,713 528,890 11,790 39 39
Construction in Progress 126,009,810 115,702,026 296,483 553,258 - -

Bearer Biological Assets 101,234 96,373 - - - -

Development in Progress 1,931 - - - - -
Deferred Tax Assets 1,683 - 1,683 - - -

Deferred Tax Assets 1,683 - 1,683 - - -
Other Non-Current Assets 5,645,572 5,545,750 267,714 260,655 - -

Prepayments 2,737 2,899 2,273 1,809 - -
Deposits 2,494 2,456 595 595 - -
Restricted Fund 90,045 91,527 35,242 36,725 - -
Other Assets 5,550,297 5,448,867 229,605 221,527 - -
Total Assets 707,558,687 739,830,577 20,226,173 16,134,667 8,737,119 7,406,930
LIABILITIES
Current Liabilities

Payables 52,298,367 54,953,538 1,580,770 1,395,856 26,753 30,766
Bills/Bonds/Loans Payable 15,953,383 19,304,768 9,225 8,187 - -
Tax Refunds Payable 115 142 110 129 - -

Intra-Agency Payables 301,114,912 357,177,920 68 209 - -

Intra-Agency Payables 301,114,912 357,177,920 68 209 - -
Trust Liabilities 2,367,172 2,256,623 392,875 371,387 95,326 99,268


Provisions 54,124 55,761 54,124 55,761 5,161 19,570

Provisions 54,124 55,761 54,124 55,761 5,161 19,570
521
(in thousand pesos)
TOTAL GBE FTI

2017 2016 2017 2016 2017 2016
Other Payables 4,065,005 3,047,700 1,257,445 611,601 963,821 87,033

Other Payables 4,065,005 3,047,700 1,257,445 611,601 963,821 87,033
Total Current Liabilities 500,397,505 553,112,049 4,570,339 4,123,403 1,111,745 248,583
Financial Liabilities 79,783,578 92,328,158 143,308 152,533 - -

Bills/Bonds/Loans Payable 79,783,578 92,328,158 143,308 152,533 - -
Inter-Agency Payables 38,458 35,565 29,838 26,940 - -



Deferred Credits 24,536,005 22,988,793 1,154,889 80,186 49,949 34,608
Provisions 308,146 - 308,146 - - -

Provisions 308,146 - 308,146 - - -
Other Payables 27,402 27,635 1,130 1,152 - -

Other Payables 27,402 27,635 1,130 1,152 - -
Total Liabilities 606,245,180 669,257,610 7,361,006 5,148,536 1,161,694 283,191
NET ASSETS/EQUITY

Revaluation Surplus 6,148,678 6,660,521 6,128,823 6,640,666 5,984,408 6,496,251
Retained Earnings/(Deficit) 190,697 (802,808) 190,697 (802,808) 1,091,018 127,487
Stockholders' Equity 7,486,520 7,486,520 884,451 884,451 500,000 500,000
Cumulative Changes in Fair Value (1,537) 17,456 (1,537) 17,456 - -
522
(in thousand pesos)
HSDC NRDC PMDC

2017 2016 2017 2016 2017 2016
(Restated)
ASSETS
Current Assets
Cash on Hand 603 495 452 - 135 116
Receivables 10,509 11,354 132,482 108,903 13,186 24,692

Loans and Receivable Accounts 5,459 6,304 26,186 (230) 13,059 24,560
Inter-Agency Receivables - - 93,352 95,106 39 46
Other Receivables - - 12,944 14,027 88 86
Inventories 296 243 476 111 3,805 4,604

and Equipment - - 326 - - -
and Books - - 40 - 21 -

Advances - - 7,022 6,629 208 104
Prepayments 515 427 - - 4,871 3,810
Non-Current Assets


Receivables 86,586 106,586 - - - -

Inter-Agency Receivables 543 20,543 - - - -
523
(in thousand pesos)
HSDC NRDC PMDC

2017 2016 2017 2016 2017 2016
(Restated)
Land 39,835 39,835 - - - -
Buildings and Other Structures 27,196 30,560 - - 1,905 2,242
Transportation Equipment 308 308 533 533 1,572 1,942
Furniture, Fixtures and Books 28 120 953 734 - -
Exploration and Evaluation Assets - - - - 248,448 261,547
Other Property, Plant and Equipment 10 10 - - - -
Consumable Biological Assets - - - - - -
Intangible Assets - - 183 - 884 884

Intangible Assets - - 183 - 884 884

Other Non-Current Assets 93,463 93,463 160,565 152,893 154 1,396

Prepayments - - 2,273 1,809 - -
Deposits - - 441 441 154 154
Restricted Fund - - 35,242 36,725 - -
Other Assets 93,463 93,463 122,609 113,919 - 1,242
Total Assets 620,957 600,948 486,481 444,038 416,452 446,063
LIABILITIES
Current Liabilities

Payables 2,708 3,768 64,711 67,252 4,194 628
Inter-Agency Payables 24,813 21,475 40,796 33,726 2,127 756

Inter-Agency Payables 24,813 21,475 40,796 33,726 2,127 756


524
(in thousand pesos)
HSDC NRDC PMDC

2017 2016 2017 2016 2017 2016
(Restated)

Financial Liabilities - - 30,000 30,000 113,308 122,533



Provisions - - 1,267 - - -
Provisions - - 1,267 - - -
Other Payables - - 1,130 1,152 - -

Other Payables - - 1,130 1,152 - -
Total Non-Current Liabilities 14,796 14,448 111,983 63,107 122,630 131,855
NET ASSETS/EQUITY
Government Equity 1,970,125 1,970,125 159,190 159,190 - -

Retained Earnings/(Deficit) (1,391,604) (1,408,985) (46,801) (21,836) 1,557 25,926
Total Net Assets/Equity 578,521 561,140 112,388 137,353 270,972 295,342
525
(in thousand pesos)
PCIC PFDA PHILSUCOR

2017 2016 2017 2016 2017 2016
ASSETS
Current Assets
Cash on Hand 3,066 2,578 6,265 4,114 20 20
Cash in Bank-Foreign Currency - - 883 1,726 - -
Cash Equivalents 2,567,395 941,056 837,724 959,488 - -

Sale Securities - - - - 533,404 481,005
Other Investments - - - - - 386,907

Sinking Fund - - - - - 386,907
Receivables 167,732 169,338 196,053 194,536 601,576 566,040

Inter-Agency Receivables 1,379 3 989 1,688 275,113 274,840
Intra-Agency Receivables - - 282 - - -
Inventories 4,557 2,981 14,607 14,713 558 533

and Equipment 700 - 417 - 311 295
and Books 239 - 144 - 228 228

Advances 235 208 173 102 - -
Prepayments 839 711 47,022 74,411 75 300
Deposits 1,335 1,088 4,602 3,617 514 -
Other Assets 244 290 - - - -
Non-Current Assets
Financial Assets 1,683,665 1,328,208 - - 30,000 30,000

Financial Assets-Held to Maturity 1,683,665 1,328,208 - - 30,000 30,000
Other Investments 2,142 2,116 356 356 - -

Other Investments 2,142 2,116 356 356 - -
Receivables 328,968 328,791 - - 105,605 75,082

Loans and Receivable Accounts 315,665 315,665 - - 105,605 75,082

526
(in thousand pesos)
PCIC PFDA PHILSUCOR

2017 2016 2017 2016 2017 2016
Property, Plant and Equipment 90,329 55,619 1,957,194 932,439 7,413 7,554
Land - - 24,472 24,472 - -
Land Improvements 2,159 - 206,430 175,920 - -
Infrastructure Assets - - 669,596 11,278 - -
Machinery and Equipment 25,180 17,648 59,422 54,595 150 112
Furniture, Fixtures and Books 1,966 853 2,971 4,921 47 60
Other Property, Plant and Equipment 743 273 528,097 11,467 - -
Consumable Biological Assets - - - - - -

Deferred Tax Assets - - - - 681 -

Deferred Tax Assets - - - - 681 -
Other Non-Current Assets 576 561 12,956 12,328 - 14

Other Assets 576 561 12,956 12,328 - 14
Total Non-Current Assets 2,109,458 1,719,687 1,970,507 945,122 151,535 121,165
Total Assets 5,257,923 3,069,928 3,412,628 2,489,630 1,294,613 1,677,129
LIABILITIES
Current Liabilities
Financial Liabilities 761,466 605,000 720,435 686,685 611 1,886

Payables 761,466 605,000 720,326 686,555 611 1,886
Tax Refunds Payable - - 110 129 - -
Inter-Agency Payables 8,508 6,395 1,134,157 1,568,755 446 124

Inter-Agency Payables 8,508 6,395 1,134,157 1,568,755 446 124
Intra-Agency Payables 68 209 - - - -

Intra-Agency Payables 68 209 - - - -
Trust Liabilities 366 366 134,661 123,362 102 102

Trust Liabilities 366 366 134,661 123,362 102 102

Deferred Credits - - 6,871 - - -
Provisions 44,181 31,980 - - 4,783 4,211

Provisions 44,181 31,980 - - 4,783 4,211
527
(in thousand pesos)
PCIC PFDA PHILSUCOR

2017 2016 2017 2016 2017 2016
Other Payables 241,787 100,852 12,115 9,030 39,604 414,568

Other Payables 241,787 100,852 12,115 9,030 39,604 414,568
Total Current Liabilities 1,056,376 744,803 2,044,074 2,421,322 45,545 420,891
Inter-Agency Payables 29,838 26,940 - - - -


Deferred Credits/Unearned Income 1,981,331 590,225 - - - -

Deferred Credits 1,012,903 1,129 - - - -
Provisions 306,879 - - - - -
Provisions 306,879 - - - - -
Total Non-Current Liabilities 2,491,308 781,115 - - - -
NET ASSETS/EQUITY
Government Equity 1,250,954 1,250,954 2,157,464 741,096 125,000 125,000

Retained Earnings/(Deficit) 199,833 33,604 (788,910) (672,787) 1,125,605 1,113,782
Cumulative Changes in Fair Value - - - - (1,537) 17,456
Total Net Assets/Equity 1,710,239 1,544,010 1,368,554 68,309 1,249,068 1,256,239
528
(in thousand pesos)
Non-GBE NDA NFA

2017 2016 2017 2016 2017 2016
ASSETS
Current Assets
Cash on Hand 140,486 109,288 133 92 12,697 17,290
Cash in Bank-Local Currency 14,269,865 12,522,461 369,649 319,612 861,487 1,624,321
Cash in Bank-Foreign Currency 494,954 226,807 - - 211,031 159,126
Cash Equivalents 1,461,591 1,651,159 1,131 1,127 157,177 154,820

Other Investments 7,012,042 82 - - 7,011,960 -

Sinking Fund 7,011,960 - - - 7,011,960 -
Receivables 343,030,190 398,335,270 722,690 866,917 303,629,527 358,065,528

Inter-Agency Receivables 18,041,371 15,470,031 826 733 2,737,164 241,268
Intra-Agency Receivables 301,331,802 357,443,699 2,461 46,635 300,465,236 356,673,630
Inventories 4,083,903 15,771,325 5,522 5,564 3,781,832 15,475,850

Inventory Held for Sale 3,228,406 13,177,058 - - 3,158,634 13,106,288
Inventory Held for Manufacturing 325,175 2,052,748 - - 263,410 1,984,649
and Equipment 26,803 20,686 330 144 14,587 13,526
and Books 5,497 3,434 261 206 3,063 2,716
Other Current Assets 4,591,655 2,990,913 553 51 269,642 363,267

Advances 62,159 69,816 553 51 963 2,586
Prepayments 4,215,229 2,528,646 - - 9,613 18,351
Deposits 90,536 84,553 - - 57,526 56,992
Other Assets 223,731 307,898 - - 201,540 285,339
Non-Current Assets


Sinking Fund - 4,407,889 - - - 4,407,889
Receivables 73,093 100,228 - - - -

Inter-Agency Receivables - 1,251 - - - -

529
(in thousand pesos)
Non-GBE NDA NFA

2017 2016 2017 2016 2017 2016
Land 6,531,958 6,539,463 - - 314,930 314,370
Infrastructure Assets 77,235,931 65,103,414 - - - -
Buildings and Other Structures 2,962,009 2,897,649 35,451 17,863 1,087,153 1,069,649
Furniture, Fixtures and Books 147,634 142,937 1,992 661 12,824 13,381
Leased Assets Improvements 12,974 20,479 134 - 12,840 13,884
Other Property, Plant and Equipment 156,995 171,924 637 707 4,538 2,316
Construction in Progress 125,713,327 115,148,768 - 14,137 102,912 72,003
Biological Assets 107,122 102,357 101,209 96,348 - -

Bearer Biological Assets 101,234 96,373 101,209 96,348 - -
Intangible Assets 3,111 - - - 1,931 -

Intangible Assets 1,180 - - - - -
Development in Progress 1,931 - - - 1,931 -

Other Non-Current Assets 5,377,859 5,285,095 34,561 33,912 4,223,928 4,129,604

Prepayments 464 1,090 464 1,090 - -
Deposits 1,899 1,861 1,899 1,861 - -
Restricted Fund 54,803 54,803 - - 54,803 54,803
Other Assets 5,320,693 5,227,341 32,198 30,961 4,169,125 4,074,801
Total Assets 687,332,514 723,695,910 1,386,721 1,459,832 323,440,350 387,657,755
LIABILITIES
Current Liabilities
Financial Liabilities 66,661,761 72,854,276 131,765 119,544 55,558,101 55,085,085

Payables 50,717,598 53,557,681 93,603 81,382 43,994,128 41,256,095
Bills/Bonds/Loans Payable 15,944,158 19,296,581 38,161 38,161 11,563,973 13,828,990
Inter-Agency Payables 123,257,297 114,624,035 47,670 64,668 42,316,467 33,601,171

Inter-Agency Payables 123,257,297 114,624,035 47,670 64,668 42,316,467 33,601,171
Intra-Agency Payables 301,114,844 357,177,711 - - 300,466,751 356,675,500

Intra-Agency Payables 301,114,844 357,177,711 - - 300,466,751 356,675,500


530
(in thousand pesos)
Non-GBE NDA NFA

2017 2016 2017 2016 2017 2016
Other Payables 2,807,560 2,436,099 9,558 4,745 - -

Other Payables 2,807,560 2,436,099 9,558 4,745 - -
Total Current Liabilities 495,827,167 548,988,646 190,568 190,197 399,370,742 446,439,753
Financial Liabilities 79,640,270 92,175,626 - - 70,653,929 82,214,285

Bills/Bonds/Loans Payable 79,640,270 92,175,626 - - 70,653,929 82,214,285


Deferred Credits/Unearned Income 23,381,117 22,908,606 3,821 3,821 185,469 246,171

Deferred Credits 23,381,117 22,908,606 3,821 3,821 185,469 246,171
Other Payables 26,272 26,483 - - - -

Other Payables 26,272 26,483 - - - -
NET ASSETS/EQUITY
Government Equity 81,826,416 52,964,912 1,192,333 1,265,815 (146,769,790) (141,242,454)

Total Net Assets/Equity 88,448,340 59,586,836 1,192,333 1,265,815 (146,769,790) (141,242,454)
531
(in thousand pesos)
NIA NTA PCA

2017 2016 2017 2016 2017 2016
ASSETS
Current Assets
Cash and Cash Equivalents 9,847,366 7,805,410 156,109 31,613 815,230 1,241,015
Cash on Hand 118,507 81,638 513 1,416 3,506 3,410
Cash in Bank-Local Currency 9,147,070 7,282,071 154,480 29,081 781,636 1,210,288
Cash in Bank-Foreign Currency 167,262 35,724 - - 2,755 3,122
Treasury/Agency Cash Accounts 71 130 - - 25,219 22,081
Receivables 36,483,170 36,910,315 68,200 200,531 624,615 720,229

Inter-Agency Receivables 14,531,898 14,641,593 998 970 373,080 526,173
Intra-Agency Receivables 669,595 610,219 - 10,276 68,994 33,230
Inventories 111,516 117,112 14,869 23,183 68,410 52,556

Inventory Held for Distribution - - - - 21,342 14,570
and Equipment 274 - 69 - 11,542 7,015
and Books 604 - - - 1,569 512

Advances 49,908 58,460 2,196 1,769 3,498 1,231
Prepayments 4,165,842 2,489,249 5,011 5,778 3,763 1,969
Deposits 26,792 21,867 417 417 2,887 2,856
Non-Current Assets
Financial Assets 2 2 1 1 - -
Financial Assets-Held to Maturity 2 2 1 1 - -
Other Investments 69,342,412 66,401,147 13,000 13,000 89 89

Other Investments 69,342,412 66,401,147 13,000 13,000 89 89
Receivables - - - - 3,394 3,774

Loans and Receivable Accounts - - - - 3,394 3,774

532
(in thousand pesos)
NIA NTA PCA

2017 2016 2017 2016 2017 2016
Land 5,755,909 5,755,038 87,300 96,235 142,416 142,416
Infrastructure Assets 77,216,955 65,082,416 10,356 10,688 1,645 520
Other Property, Plant and Equipment 139,841 148,956 989 977 4,560 11,527
Construction in Progress 125,525,569 114,992,904 - 3,258 11,662 4,495
Biological Assets - - - - 2,536 2,540

Bearer Biological Assets - - - - 25 25
Consumable Biological Assets - - - - 2,511 2,515


Other Assets 549 548 89,053 84,689 719,470 719,840
Total Assets 351,843,238 324,196,231 564,245 581,149 2,954,467 3,381,898
LIABILITIES
Current Liabilities

Payables 4,980,402 5,059,722 134,952 174,393 765,197 617,922
Tax Refunds Payable - - - - - 7
Inter-Agency Payables 80,247,759 80,320,520 5,614 3,727 88,213 95,497

Inter-Agency Payables 80,247,759 80,320,520 5,614 3,727 88,213 95,497
Intra-Agency Payables 558,032 478,623 2,161 - - -

Intra-Agency Payables 558,032 478,623 2,161 - - -
Trust Liabilities 905,728 771,831 187 196 10,931 14,766

Trust Liabilities 905,728 771,831 187 196 10,931 14,766

533
(in thousand pesos)
NIA NTA PCA

2017 2016 2017 2016 2017 2016
Other Payables 2,241,447 1,847,043 33,026 20,403 52,740 61,555

Other Payables 2,241,447 1,847,043 33,026 20,403 52,740 61,555
Financial Liabilities 8,581,341 9,556,341 - - - -

Bills/Bonds/Loans Payable 8,581,341 9,556,341 - - - -
Deferred Credits/Unearned Income 23,103,166 22,568,897 109 - 21,543 22,319

Deferred Credits 23,103,166 22,568,897 109 - 21,543 22,319
Total Non-Current Liabilities 31,684,506 32,125,237 109 - 21,543 22,319
Total Liabilities 120,617,874 120,602,978 176,049 198,719 938,624 812,065
NET ASSETS/EQUITY
Government Equity 225,666,172 198,034,062 388,196 382,431 1,995,988 2,549,978

534
(in thousand pesos)
PRRI (Region 3) QUEDANCOR SRA

2017 2016 2017 2016 2017 2016
(Restated)
ASSETS
Current Assets
Cash on Hand 553 368 2,653 3,303 1,924 1,770
Cash in Bank-Local Currency 1,105,783 978,765 45,065 35,317 1,804,695 1,043,005
Cash in Bank-Foreign Currency 113,906 28,835 - - - -
Cash Equivalents 1,259 225,990 884,339 860,148 - -
Financial Assets - - - 6,125 33,019 32,512

Financial Assets-Held to Maturity - - - 6,125 33,019 32,512
Receivables 247,355 227,690 905,562 1,328,076 349,072 15,982

Loans and Receivable Accounts 49,524 49,884 843,452 1,268,131 1,878 165
Inter-Agency Receivables 47,047 44,293 3,417 - 346,943 15,001
Inventories 94,442 89,360 5,833 5,975 1,480 1,725

and Books - - - - - -

Advances 2,444 3,702 1,144 1,152 1,452 865
Prepayments 3,791 961 895 1,108 26,315 11,229
Deposits 457 457 867 386 1,590 1,578
Other Assets 22,191 22,559 - - - -
Non-Current Assets
Financial Assets - - 1,072 1,189 - -

Receivables - - 65,177 86,172 4,522 10,282

Loans and Receivable Accounts - - 65,177 86,172 - 827
Inter-Agency Receivables - - - - - 1,251
Other Receivables - - - - 4,522 8,204

535
(in thousand pesos)

2017 2016 2017 2016 2017 2016
(Restated)
Land 204,657 204,657 26,559 26,559 188 188
Land Improvements 10,863 14,802 - - 6,922 8,539
Furniture, Fixtures and Books 2,387 1,792 705 690 782 728
Leased Assets Improvements - 6,595 - - - -

Intangible Assets - - - - 1,180 -

Intangible Assets - - - - 1,180 -


Other Assets - - 309,279 315,483 1,018 1,018
Total Assets 2,416,328 2,393,615 2,270,414 2,694,627 2,456,751 1,330,802
LIABILITIES
Current Liabilities

Payables 314,191 340,125 400,568 5,988,845 34,555 39,197




536
(in thousand pesos)

2017 2016 2017 2016 2017 2016
(Restated)
Other Payables 368,667 399,762 99,625 97,042 2,498 5,549

Other Payables 368,667 399,762 99,625 97,042 2,498 5,549
Financial Liabilities - - 405,000 405,000 - -



Deferred Credits/Unearned Income - - 66,888 67,276 122 122

Deferred Credits - - 66,888 67,276 122 122
Other Payables - - - - 26,272 26,483

Other Payables - - - - 26,272 26,483
Total Non-Current Liabilities - - 471,888 472,276 35,743 36,319
NET ASSETS/EQUITY
Government Equity 1,209,718 1,206,475 (4,224,247) (10,468,323) 2,368,047 1,236,929

Total Net Assets/Equity 1,209,718 1,206,475 (3,181,370) (9,425,446) 2,368,047 1,236,929
537
(in thousand pesos)
TOTAL GBE DFPC

2017 2016 2017 2016 2017 2016
ASSETS
Current Assets
Cash on Hand 1,597,837 1,389,688 1,551,620 1,345,791 45,130 44,131
Cash in Bank-Foreign Currency 928,093 540,980 772,359 365,370 183,740 183,412
Financial Assets 759,832 1,337,016 - 1,101,783 - -

Financial Assets-Held to Maturity 748,624 1,325,773 - 1,101,783 - -
Sale Securities 11,208 11,243 - - - -

Receivables 22,256,248 19,459,813 18,707,039 16,635,220 383,448 278,358

Inter-Agency Receivables 8,506,054 7,724,941 6,229,932 6,240,409 82,278 117,940
Inventories 1,398,921 1,615,300 765,382 997,742 149,021 166,165

Inventory Held for Sale 173,867 221,395 157,403 177,184 145,466 161,516
Inventory Held for Distribution 145,459 95,442 8,192 10,540 - -
Inventory Held for Manufacturing 7,789 19,132 5,110 10,685 - -
and Equipment 2,809 - 628 - 628 -
and Books 95 - - - - -
Other Current Assets 1,186,720 820,495 574,464 416,596 25,500 21,996

Advances 71,881 27,559 19,119 19,072 - -
Prepayments 1,035,177 720,499 530,887 373,404 25,500 21,996
Deposits 33,436 31,796 19,840 19,977 - -
Other Assets 46,225 40,641 4,618 4,142 - -
Non-Current Assets

Sale Securities - 942,906 - 942,906 - -

Other Investments 3,349,092 2,997,688 3,344,878 2,741,166 - 1,020

Investments in Time Deposits 695,742 215,069 695,742 215,069 - -
Other Investments 2,653,350 2,782,619 2,649,136 2,526,097 - 1,020
Receivables 573,762 594,922 322,748 313,159 262,646 252,614

Investment Property 30,171,216 30,152,764 15,750,695 15,684,912 - -

Land and Buildings 30,171,216 30,152,764 15,750,695 15,684,912 - -
538
(in thousand pesos)
TOTAL GBE DFPC

2017 2016 2017 2016 2017 2016
Land 10,030,739 9,820,285 1,738,921 1,730,467 - -
Buildings and Other Structures 3,621,552 3,452,033 253,712 299,935 - -
Heritage Assets 52,458 52,509 - - - -
Construction in Progress 1,233,424 1,388,933 319,106 156,146 291,536 128,500



Prepayments 333,570 348,668 333,570 348,496 - -
Deposits 834,251 795,824 820,775 782,349 273,777 243,416
Restricted Fund 12,973,276 10,754,911 12,492,012 10,245,195 - -
Other Assets 4,035,466 1,626,511 3,986,312 1,542,776 971 876
Total Non-Current Assets 179,982,860 172,902,872 146,556,779 140,590,533 988,526 727,494
Total Assets 298,143,720 268,896,458 251,742,353 223,301,081 3,385,274 2,873,793
LIABILITIES
Current Liabilities

Payables 56,445,187 44,934,547 52,787,583 40,914,027 1,857,382 1,742,917

Intra-Agency Payables 2,185,736 5,979,113 1,973,792 4,748,141 - -

Intra-Agency Payables 2,185,736 5,979,113 1,973,792 4,748,141 - -

Deferred Credits/Unearned Income 121,830 117,929 51,768 46,925 139 265

Deferred Credits 77,939 85,672 35,745 35,864 139 265
Provisions 119,149 119,039 102,503 102,422 - -

Provisions 119,149 119,039 102,503 102,422 - -
Other Payables 5,750,322 4,532,382 5,071,451 3,402,779 684,559 374,512

Other Payables 5,750,322 4,532,382 5,071,451 3,402,779 684,559 374,512
539
(in thousand pesos)
TOTAL GBE DFPC

2017 2016 2017 2016 2017 2016
Financial Liabilities 225,785 288,529 195,785 238,529 - -




Provisions 25,846,398 22,929,626 25,785,451 22,877,992 - -

Provisions 25,846,398 22,929,626 25,785,451 22,877,992 - -
Deferred Tax Liabilities 289 109 289 109 - -

Deferred Tax Liabilities 289 109 289 109 - -
Other Payables 5,797,648 8,269,389 5,716,329 8,164,965 7,714 2,160

Other Payables 5,797,648 8,269,389 5,716,329 8,164,965 7,714 2,160
NET ASSETS/EQUITY
Government Equity 32,697,236 30,283,759 86,260 85,845 22,622 22,622

Revaluation Surplus 7,463,806 7,690,547 1,130,803 1,130,803 - -
Cumulative Changes in Fair Value 9,206 9,240 - - - -
540
(in thousand pesos)
IBC 13 PAGCOR PCSO

2017 2016 2017 2016 2017 2016
ASSETS
Current Assets
Cash on Hand 6,543 3,369 1,268,374 1,211,592 10,929 6,910
Cash in Bank-Foreign Currency 24 24 497,912 129,371 - -
Cash Equivalents - - 11,722,417 8,259,484 - -

Receivables 98,528 81,544 3,750,784 2,714,135 1,299,803 1,375,090

Loans and Receivable Accounts 16,045 (488) 3,411,237 2,405,644 1,166,532 1,224,229
Intra-Agency Receivables - - - - 20,412 19,733
Inventories - - 482,831 534,687 36,747 223,777

Inventory Held for Sale - - 6,103 14,806 - -
Inventory Held for Distribution - - 8,192 10,540 - -
and Books - - - - - -

Advances - - 730 556 18,389 18,516
Prepayments 268 536 320,099 297,800 15,360 14,281
Deposits - - - - 19,807 19,944
Other Assets 239 239 - - 103 126
Non-Current Assets
Financial Assets - - 100,000 100,000 350,000 350,000

Financial Assets-Held to Maturity - - 100,000 100,000 350,000 350,000

Other Investments - - 43,166 43,170 2,820,614 2,695,686

Other Investments - - 43,166 43,170 2,604,680 2,480,617
Receivables - - 52,076 52,216 - -

Investment Property - - 15,685,904 15,620,121 - -

Land and Buildings - - 15,685,904 15,620,121 - -
541
(in thousand pesos)
IBC 13 PAGCOR PCSO

2017 2016 2017 2016 2017 2016
Land 75,356 75,356 33,349 33,349 757,438 748,984
Land Improvements 131 175 3,814 4,316 102 102
Leased Assets Improvements 568 757 51,903 66,400 18,242 27,809
Other Property, Plant and Equipment - - 38,965 50,145 1,057 53,788
Construction in Progress - - - - - 77

Deferred Tax Assets - - 95,127 - - -

Deferred Tax Assets - - 95,127 - - -
Other Non-Current Assets 20,183 19,870 1,050,989 1,062,448 3,342,601 752,333

Prepayments 14,538 14,225 297,448 297,380 - -
Deposits 5,645 5,645 458,999 469,060 - -
Other Assets - - 294,542 296,008 3,342,601 752,333
Total Assets 500,556 279,496 38,671,179 34,289,046 22,558,822 15,914,218
LIABILITIES
Current Liabilities
Financial Liabilities 253,925 311,517 2,445,370 1,751,040 9,070,510 5,925,886

Payables 253,925 311,517 2,445,370 1,751,040 9,070,510 5,925,886

Intra-Agency Payables - - - - 1,973,792 4,748,141

Intra-Agency Payables - - - - 1,973,792 4,748,141
Trust Liabilities - - 419,908 260,021 3,245,054 465,661

Trust Liabilities - - 419,908 260,021 3,245,054 465,661

Deferred Credits 6,711 6,711 - - 28,894 28,888
Provisions - - 100,000 100,000 - -

Provisions - - 100,000 100,000 - -
Other Payables - - 3,057,229 1,837,191 893,376 776,116

Other Payables - - 3,057,229 1,837,191 893,376 776,116
542
(in thousand pesos)
IBC 13 PAGCOR PCSO

2017 2016 2017 2016 2017 2016

Trust Liabilities - - 1,845,126 1,414,951 - -

Trust Liabilities - - 1,845,126 1,414,951 - -

Provisions 976,449 742,123 - - - -

Provisions 976,449 742,123 - - - -

Other Payables - - 5,708,615 8,162,805 - -

Other Payables - - 5,708,615 8,162,805 - -
Total Non-Current Liabilities 1,051,449 817,123 7,901,439 9,922,565 - -
NET ASSETS/EQUITY
Government Equity - - - - 421 5

Retained Earnings/(Deficit) (1,533,215) (1,556,585) 15,755,438 13,402,335 6,487,910 2,917,332
Stockholders' Equity 500 500 71,431 71,431 - -
Total Net Assets/Equity (1,110,529) (1,133,900) 15,826,869 13,473,765 7,196,949 3,625,955
543
(in thousand pesos)
PHIC PITC PPPI

2017 2016 2017 2016 2017 2016
ASSETS
Current Assets
Cash on Hand 103,253 76,644 116,365 564 12 143
Cash in Bank-Foreign Currency 355 354 17,990 14,180 - -
Financial Assets - - - 1,101,783 - -

Financial Assets-Held to Maturity - - - 1,101,783 - -
Receivables 13,091,207 12,095,602 30,338 19,959 27,338 39,638

Lease Receivables - 381 108 121 - -
Inter-Agency Receivables 6,130,254 6,106,916 - - 15,438 13,644
Other Receivables 177,648 54,892 1,298 774 696 644
Inventories 81,546 64,927 - 9 5,905 914

Inventory Held for Sale - - - 9 5,834 853
Inventory Held for Consumption 81,546 64,927 - - 71 61
and Books - - - - - -
Other Current Assets - - 135,095 6,990 31,795 31,359

Prepayments - - 135,095 6,990 31,762 31,326
Deposits - - - - 33 33
Non-Current Assets
Financial Assets 101,998,454 101,506,802 - - - -

Financial Assets-Held to Maturity 101,998,454 100,563,896 - - - -
Sale Securities - 942,906 - - - -


Receivables - - 7,217 7,217 - -


544
(in thousand pesos)
PHIC PITC PPPI

2017 2016 2017 2016 2017 2016
Land 872,778 872,778 - - - -
Machinery and Equipment 1,049,577 889,665 2,775 2,290 966 1,287
Furniture, Fixtures and Books 167,798 134,302 51 105 111 272
Leased Assets Improvements 53,242 39,055 1,077 257 237 237

Deferred Tax Assets - - 40,183 40,199 11,936 12,347

Other Non-Current Assets 412,881 555,824 34,985 34,532 60 60

Prepayments 21,111 36,892 473 - - -
Deposits 76,367 58,189 1,776 1,776 - -
Other Assets 315,402 460,743 32,736 32,756 60 60
Total Assets 151,820,634 146,580,832 20,194,699 11,232,240 199,583 181,816
LIABILITIES
Current Liabilities

Payables 38,854,556 30,978,897 1,515 5,519 119,965 97,681



Provisions - - - - 2,503 2,422

Provisions - - - - 2,503 2,422
Other Payables 238,870 196,763 6,617 5,583 2,765 1,744

Other Payables 238,870 196,763 6,617 5,583 2,765 1,744
545
(in thousand pesos)
PHIC PITC PPPI

2017 2016 2017 2016 2017 2016
Financial Liabilities - - - - 120,785 163,529



Deferred Credits/Unearned Income 1,078,115 1,678,101 - - - -

Unearned Revenue/Income 887,604 1,667,650 - - - -
Provisions 24,796,039 22,123,934 12,964 11,935 - -

Provisions 24,796,039 22,123,934 12,964 11,935 - -
Deferred Tax Liabilities - - 220 38 69 70

Deferred Tax Liabilities - - 220 38 69 70
NET ASSETS/EQUITY
Retained Earnings/(Deficit) 85,990,035 90,683,027 71,800 (21,167) (425,093) (389,254)
Stockholders' Equity - - 300,000 300,000 37,500 37,500
Total Net Assets/Equity 85,990,035 90,683,027 371,800 278,833 (387,593) (351,754)
546
(in thousand pesos)
PRA Non-GBE BSoP

2017 2016 2017 2016 2017 2016
(Restated)
ASSETS
Current Assets
Cash on Hand 1,014 2,438 46,217 43,896 2,633 4,499
Cash in Bank-Local Currency 31,652 11,729 3,378,835 3,936,935 388,297 282,471
Cash in Bank-Foreign Currency 72,338 38,027 155,735 175,611 1,895 381
Cash Equivalents 152,377 508,996 3,548,198 4,486,572 - -
Financial Assets - - 759,832 235,233 11,208 11,243

Sale Securities - - 11,208 11,243 11,208 11,243

Investments in Time Deposits 1,094,343 1,060,671 291,466 558,740 - -
Receivables 25,592 30,893 3,549,209 2,824,593 86,359 49,008

Lease Receivables - - 18,207 15,371 5 5
Inter-Agency Receivables - - 2,276,122 1,484,532 - -
Intra-Agency Receivables - - 233 309 - -
Inventories 9,332 7,262 633,539 617,558 13,577 39,328

Inventory Held for Sale - - 16,464 44,211 12,440 37,976
Inventory Held for Distribution - - 137,267 84,902 - -
and Equipment - - 2,180 - - -
and Books - - 95 - - -

Advances - - 52,763 8,487 228 423
Prepayments 2,803 475 504,290 347,094 3,357 9,185
Deposits - - 13,597 11,819 2,789 1,289
Other Assets 4,276 3,777 41,607 36,499 - -
Non-Current Assets
Financial Assets - - 1,047,345 368,023 - -

Financial Assets-Held to Maturity - - 1,047,345 368,023 - -

Other Investments 480,408 600 4,214 256,522 - -

Investments in Time Deposits 479,808 - - - - -
Other Investments 600 600 4,214 256,522 - -
Receivables 810 1,112 251,013 281,763 - -

Other Receivables 810 1,112 126,719 127,752 - -

547
(in thousand pesos)
PRA Non-GBE BSoP

2017 2016 2017 2016 2017 2016
(Restated)
Land - - 8,291,817 8,089,817 68,967 68,967
Infrastructure Assets - - 31,242 32,816 467 539
Buildings and Other Structures 20,539 20,059 3,367,840 3,152,098 258,354 25,418
Transportation Equipment 1,379 1,379 117,983 127,862 867 1,057
Heritage Assets - - 52,458 52,509 - -
Other Property, Plant and Equipment 382 292 272,186 235,636 - -
Construction in Progress - - 914,318 1,232,787 - 493,371
Intangible Assets - - 59,255 13,190 69 69

Intangible Assets - - 1,936 1,862 69 69
Development in Progress - - 57,319 11,328 - -

Other Non-Current Assets 12,496,224 10,249,458 543,895 607,098 - -

Prepayments - - - 172 - -
Deposits 4,212 4,263 13,475 13,475 - -
Restricted Fund 12,492,012 10,245,195 481,265 509,715 - -
Other Assets - - 49,154 83,736 - -
Total Assets 14,411,606 11,949,641 46,401,366 45,595,377 5,228,807 5,424,530
LIABILITIES
Current Liabilities

Payables 184,360 100,571 3,657,604 4,020,520 34,997 21,325
Tax Refunds Payable - - 148 121 - -
Other Financial Liabilities - - 32,844 27,737 24,893 18,098
Inter-Agency Payables 14,790 25,212 1,117,571 967,887 18,141 2,658

Inter-Agency Payables 14,790 25,212 1,117,571 967,887 18,141 2,658
Intra-Agency Payables - - 211,944 1,230,971 16,335 13,822

Intra-Agency Payables - - 211,944 1,230,971 16,335 13,822


Provisions - - 16,646 16,617 16,646 16,617

Provisions - - 16,646 16,617 16,646 16,617
Other Payables 188,035 210,871 678,871 1,129,603 - -

Other Payables 188,035 210,871 678,871 1,129,603 - -
548
(in thousand pesos)
PRA Non-GBE BSoP

2017 2016 2017 2016 2017 2016
(Restated)
Financial Liabilities - - 30,000 50,000 - -




Unearned Revenue/Income - - 198 438 - -
Provisions - - 60,947 51,634 - -

Provisions - - 60,947 51,634 - -

Other Payables - - 81,319 104,424 64,001 91,309

Other Payables - - 81,319 104,424 64,001 91,309
NET ASSETS/EQUITY
Government Equity 63,217 63,217 32,610,976 30,197,914 305,408 277,651

Revaluation Surplus - - 6,333,003 6,559,743 4,704,191 4,930,931
Retained Earnings/(Deficit) 1,502,305 1,314,707 - - - -
Stockholders' Equity - - - - - -
Cumulative Changes in Fair Value - - 9,206 9,240 9,206 9,240
549
(in thousand pesos)
CCP CITEM DAP

2017 2016 2017 2016 2017 2016
ASSETS
Current Assets
Cash on Hand 1,550 236 584 97 2,547 1,621
Cash in Bank-Foreign Currency 2,663 171 46,422 40,568 8,960 8,397
Cash Equivalents - 19,987 53,391 61,510 - 624
Financial Assets 363,536 73,702 - - 365,329 150,288

Financial Assets-Held to Maturity 363,536 73,702 - - 365,329 150,288

Receivables 855,304 338,502 21,262 15,214 215,570 186,243

Other Receivables 8,149 9,198 97 307 1,037 1,338
Inventories 2,364 2,574 1,233 935 4,434 4,278

Inventory Held for Distribution - - 2 2 - -
Inventory Held for Consumption 751 961 1,231 933 4,434 4,278
and Books - - - - - -

Advances 1,176 792 73 24 1,463 633
Prepayments 25,398 17,592 11,735 14,141 7,391 9,894
Deposits 995 745 611 611 979 1,171
Other Assets 228 228 - - 40,427 34,761
Total Current Assets 1,478,037 844,541 231,876 190,796 699,505 478,172
Non-Current Assets


Other Investments 3,281 3,248 - - 7 7

Other Investments 3,281 3,248 - - 7 7
Receivables - - 2,588 3,273 - -

Inter-Agency Receivables - - 348 - - -
550
(in thousand pesos)
CCP CITEM DAP

2017 2016 2017 2016 2017 2016
Land 796,387 796,387 - - 4,941 4,941
Land Improvements 41,414 24,675 - - - -
Furniture, Fixtures and Books 5,057 4,478 1,906 (1,459) 22,311 21,375
Heritage Assets 50,720 50,720 - - 1,453 1,453
Other Property, Plant and Equipment 82,290 66,355 3,833 3,948 38 -
Construction in Progress 2,819 289 - - 27,923 16,327
Deferred Tax Assets - - - 2 - -

Deferred Tax Assets - - - 2 - -
Other Non-Current Assets 78 78 296,724 295,128 530 530

Deposits - - 2,273 2,273 - -
Restricted Fund - - 293,607 292,011 - -
Other Assets 78 78 844 844 530 530
Total Assets 2,668,115 2,009,305 575,321 531,979 1,075,612 797,712
LIABILITIES
Current Liabilities

Payables 142,409 145,363 41,781 52,481 157,573 151,362
Tax Refunds Payable 39 - - - - -



Other Payables 2,488 2,737 3,610 1,404 26,138 39,700

Other Payables 2,488 2,737 3,610 1,404 26,138 39,700
551
(in thousand pesos)
CCP CITEM DAP

2017 2016 2017 2016 2017 2016


Provisions - - - - 60,947 51,634

Provisions - - - - 60,947 51,634

Other Payables - - 16,157 11,639 - -

Other Payables - - 16,157 11,639 - -
Total Non-Current Liabilities - - 18,521 12,936 257,151 229,873
NET ASSETS/EQUITY
Government Equity 2,347,098 1,710,971 471,970 439,687 424,089 354,445

Total Net Assets/Equity 2,347,098 1,710,971 471,970 439,687 424,089 354,445
Total Liabilities and Net Assets/Equity 2,668,115 2,009,305 575,321 531,979 1,075,612 797,712
552
(in thousand pesos)
LCP NKTI PCED

2017 2016 2017 2016 2017 2016
ASSETS
Current Assets
Cash on Hand 2,236 3,986 24,328 16,549 - 0
Cash Equivalents - - 2,309,896 2,282,784 - -
Receivables 245,621 223,281 439,473 435,463 20,295 21,444

Loans and Receivable Accounts 71,409 46,462 98,627 240,201 838 849
Inventories 69,304 98,754 181,455 136,582 438 367

and Equipment - - - - 30 -
and Books - - - - - -
Other Current Assets 1,962 1,706 252 - - -

Advances - - 252 - - -
Prepayments 1,716 1,460 - - - -
Other Assets 247 247 - - - -
Non-Current Assets



553
(in thousand pesos)
LCP NKTI PCED

2017 2016 2017 2016 2017 2016
Land 2,880,000 2,880,000 1,584,860 1,382,860 - -
Land Improvements 1,334 1,334 374 443 213 244
Buildings and Other Structures 995,061 1,002,037 1,070,730 1,088,807 9,244 11,993
Heritage Assets - - - - 60 112
Construction in Progress - - - - - 287
Intangible Assets - - - - 73 -
Intangible Assets - - - - 73 -

Other Non-Current Assets - - 15,514 38,817 - 172

Prepayments - - - - - 172
Other Assets - - 15,514 38,817 - -
Total Assets 5,128,637 4,931,639 7,031,875 6,346,109 201,317 177,810
LIABILITIES
Current Liabilities

Payables 130,830 182,826 970,123 605,784 3,509 2,770
Tax Refunds Payable - - - - - 12



Other Payables 222,080 200,599 265,828 699,627 12 -

Other Payables 222,080 200,599 265,828 699,627 12 -
554
(in thousand pesos)
LCP NKTI PCED

2017 2016 2017 2016 2017 2016



Total Non-Current Liabilities 30,000 50,000 - - - -
NET ASSETS/EQUITY

555
(in thousand pesos)
PCMC PHC PIDS

2017 2016 2017 2016 2017 2016
(Restated)
ASSETS
Current Assets
Cash and Cash Equivalents 257,091 1,863,463 1,223,282 960,469 282,728 282,171
Cash on Hand 1,530 4,762 8,736 10,247 130 10
Cash in Bank-Foreign Currency 4,559 440 26,845 14,164 10,817 6,239
Cash Equivalents 26,198 1,031,952 897,058 836,712 261,656 253,004

Receivables 577,136 667,861 498,143 394,800 10,229 5,187

Inter-Agency Receivables 454,869 585,538 211,169 102,331 2,935 127
Inventories 137,270 83,551 191,958 214,567 574 390

Inventory Held for Distribution 135,926 82,551 - - 493 342
and Books - - - - - -

Advances 1,640 1,726 8 228 - -
Prepayments 94,625 3,816 1,028 1,028 10,941 6,455
Deposits 23 23 3,973 3,753 - -
Other Assets 671 671 1 1 - 11
Non-Current Assets
Financial Assets - - 185 185 369,654 115,677

Financial Assets-Held to Maturity - - 185 185 369,654 115,677

Other Investments - - 96 96 - 252,340

Other Investments - - 96 96 - 252,340
Receivables - - - - 31,496 61,561


556
(in thousand pesos)
PCMC PHC PIDS

2017 2016 2017 2016 2017 2016
(Restated)
Land 1,395,413 1,395,413 1,545,040 1,545,040 - -
Land Improvements 238 265 221 273 - -
Buildings and Other Structures 110,985 82,958 470,199 500,115 - -
Machinery and Equipment 508,260 461,120 1,113,888 739,461 16,047 13,593


Deposits - - - - 11,202 11,202
Restricted Fund - - 727 727 - -
Other Assets 267 267 28,500 7,994 12 1
Total Assets 3,226,187 4,671,259 5,268,906 4,543,405 763,841 766,873
LIABILITIES
Current Liabilities
Financial Liabilities 671,155 1,131,293 925,382 554,961 974 2,932

Payables 671,155 1,131,293 925,382 554,961 974 2,932

Intra-Agency Payables 195,609 1,217,150 - - - -

Intra-Agency Payables 195,609 1,217,150 - - - -
Trust Liabilities 41,185 45,036 496,275 289,715 451 4,205

Trust Liabilities 41,185 45,036 496,275 289,715 451 4,205
Deferred Credits/Unearned Income - - 749 947 - -

Deferred Credits - - 749 947 - -
Other Payables 85,645 86,878 - - 149 282

Other Payables 85,645 86,878 - - 149 282
Total Current Liabilities 1,005,707 2,545,770 1,542,555 952,994 5,057 24,723
557
(in thousand pesos)
PCMC PHC PIDS

2017 2016 2017 2016 2017 2016
(Restated)


Deferred Credits/Unearned Income 61,934 - - - 1,621 37,689

Deferred Credits 61,934 - - - 1,621 37,689

Other Payables - - - - 1,161 1,476

Other Payables - - - - 1,161 1,476
Total Non-Current Liabilities 61,934 - - - 45,959 102,026
Total Liabilities 1,067,641 2,545,770 1,542,555 952,994 51,016 126,749
NET ASSETS/EQUITY

558
(in thousand pesos)
PITAHC PTNI TPB

2017 2016 2017 2016 2017 2016
ASSETS
Current Assets
Cash on Hand 16 197 1,746 1,643 50 50
Cash in Bank-Foreign Currency - - 4,658 4,512 12,655 78,266

Receivables 53,662 56,078 26,967 71,940 437,761 306,909

Loans and Receivable Accounts 17,213 24,727 1,227 29,365 303 762
Inter-Agency Receivables 33,096 27,283 - - 435,653 305,873
Intra-Agency Receivables 233 309 - - - -
Inventories 17,215 24,407 3,189 2,829 9,682 6,919

and Equipment 32 - 299 - 1,819 -
and Books 35 - 60 - - -

Advances - - 38,718 - 4,725 3,237
Prepayments 9,227 25,138 338,816 258,227 57 159
Deposits 1,229 1,229 15 15 2,982 2,982
Other Assets 33 580 - - - -
Non-Current Assets


Receivables - - 216,929 216,929 - -

559
(in thousand pesos)
PITAHC PTNI TPB

2017 2016 2017 2016 2017 2016
Land 6,306 6,306 4,270 4,270 - -
Land Improvements 959 1,062 - - - -
Other Property, Plant and Equipment 681 71 142,920 142,840 690 797
Construction in Progress 276 575 747,638 619,189 - -
Intangible Assets 57,319 11,328 - - 1,793 1,793



Restricted Fund - - - - 186,930 216,977
Other Assets 436 269 1,374 33,336 603 603
Total Assets 394,363 370,295 2,543,557 2,537,124 1,364,735 1,715,933
LIABILITIES
Current Liabilities

Payables 34,709 14,625 94,363 181,464 448,927 972,461
Tax Refunds Payable - - 60 60 49 49

Trust Liabilities 1,217 678 55,937 23,772 33,657 36,283

Trust Liabilities 1,217 678 55,937 23,772 33,657 36,283
Deferred Credits/Unearned Income 1,276 723 - - - -

Deferred Credits 1,276 723 - - - -
Other Payables 190 195 28,736 68,425 43,995 29,756

Other Payables 190 195 28,736 68,425 43,995 29,756
Total Current Liabilities 43,617 21,765 603,381 687,601 697,797 1,256,342
560
(in thousand pesos)
PITAHC PTNI TPB

2017 2016 2017 2016 2017 2016

Unearned Revenue/Income - - 198 438 - -

Total Non-Current Liabilities - - 64,104 52,690 - -
Total Liabilities 43,617 21,765 667,485 740,291 697,797 1,256,342
NET ASSETS/EQUITY
Government Equity 350,746 348,530 1,876,072 1,796,834 666,938 459,591

561
(in thousand pesos)
VFP
2017 2016
ASSETS
Current Assets
Cash and Cash Equivalents 294,153 546,354

Cash on Hand 132 -
Cash in Bank-Local Currency 294,022 546,354
Cash in Bank-Foreign Currency - -
Cash Equivalents - -
Sale Securities - -

Inter-Agency Receivables 797 49
Inventories 847 2,074

Inventory Held for Sale - -
Inventory Held for Distribution 847 2,007
Inventory Held for Manufacturing - -
Inventory Held for Consumption - 68
and Equipment - -
and Books - -
Other Current Assets 4,479 1,424

Advances 4,479 1,424
Prepayments - -
Deposits - -
Other Assets - -
Total Current Assets 360,906 602,516
Non-Current Assets
Financial Assets 400,000 -

Financial Assets-Held to Maturity 400,000 -
Sale Securities - -

Other Investments 538 538

Other Investments 538 538
Receivables - -
Loans and Receivable Accounts - -
Other Receivables - -
Investment Property 10,158,989 10,159,387

Land and Buildings 10,158,989 10,159,387
562
(in thousand pesos)
VFP
2017 2016
Property, Plant and Equipment 8,662 7,966

Land 5,633 5,633
Land Improvements 223 265
Infrastructure Assets 78 81
Buildings and Other Structures - -
Machinery and Equipment 2,120 1,292
Transportation Equipment 439 520
Furniture, Fixtures and Books 170 175
Leased Assets Improvements - -
Heritage Assets - -
Other Property, Plant and Equipment - -
Development in Progress - -

Other Non-Current Assets 997 997

Prepayments - -
Deposits - -
Restricted Fund - -
Other Assets 997 997
Total Non-Current Assets 10,569,187 10,168,888
Total Assets 10,930,093 10,771,405
LIABILITIES
Current Liabilities

Payables 872 872
Tax Refunds Payable - -

Trust Liabilities - -
Trust Liabilities - -
Deferred Credits/Unearned Income 586 -

Deferred Credits 586 -
Provisions - -
Provisions - -
Other Payables - -
Other Payables - -
Total Current Liabilities 14,492 15,273
563
(in thousand pesos)
VFP
2017 2016


Provisions - -
Provisions - -

Other Payables - -
Other Payables - -
Total Non-Current Liabilities 31,055 15,419
Total Liabilities 45,547 30,692
NET ASSETS/EQUITY

Revaluation Surplus - -
Retained Earnings/(Deficit) - -
Stockholders' Equity - -
Cumulative Changes in Fair Value - -
Total Net Assets/Equity 10,884,547 10,740,713
Total Liabilities and Net Assets/Equity 10,930,093 10,771,405

564
STATEMENT OF
COMPREHENSIVE
INCOME
Statement of Comprehensive Income
(in thousand pesos)
BSP (includes PICCI

Total GBE
accounts)
2017 2016 2017 2016 2017 2016
Income 204,088,400 189,034,748 204,053,124 188,157,342 93,387,843 89,188,609

Service Income 7,943,581 7,415,543 7,936,885 7,411,525 4,837,998 4,781,999
Business Income 162,960,217 142,384,652 162,956,020 142,378,712 60,482,607 49,839,168
Shares, Grants and Donations 24,291 17,224 - - - -
Grants and Donations 24,291 17,224 - - - -
Gains 19,289,207 37,138,186 19,289,207 36,288,472 15,480,775 33,640,470
Other Non-Operating Income 13,871,104 2,079,144 13,871,012 2,078,633 12,586,464 926,971
Reversal of Impairment Loss 611,781 51,105 611,781 51,105 - -
Miscellaneous Income 13,259,323 2,028,039 13,259,231 2,027,528 12,586,464 926,971
Expenses 150,814,466 144,729,593 150,712,410 144,646,394 68,723,069 71,543,346

Other Compensation 339,070 334,858 331,208 328,112 8,681 12,450
Personnel Benefit Contributions 3,012,677 2,990,791 3,010,700 2,989,245 2,738,846 2,729,044
Other Personnel Benefits 1,368,471 899,840 1,368,259 899,601 1,291,269 824,653
Supplies and Materials Expenses 279,199 217,497 278,213 216,014 69,593 53,272
Utility Expenses 638,136 604,285 636,997 603,162 302,463 291,561
Awards/Rewards, Prizes and Indemnities 258 38 258 38 - -
Development Expenses 400 - - - - -
Extraordinary Expenses 6,495,375 6,003,103 6,494,848 6,002,606 3,289 4,291
Professional Services 741,259 770,883 728,616 761,412 168,072 241,922
General Services 332,374 306,341 332,253 306,250 - -
Repairs and Maintenance 645,232 720,646 645,103 720,546 547,800 600,883
Taxes, Insurance Premiums and Other Fees 12,758,209 8,428,309 12,756,576 8,426,086 3,995,288 1,008,516
Labor and Wages 1,333 96 675 96 - -
Receivership and Liquidation Expenses 253,763 258,137 253,763 258,137 - -
Other Maintenance and Operating Expenses 12,844,082 14,208,000 12,830,239 14,196,438 9,250,179 10,321,817
Direct Costs 664,835 669,248 664,835 669,248 - -
Depreciation 2,230,594 2,068,244 2,225,238 2,064,935 744,706 701,395
Amortization 117,590 106,138 98,943 88,868 88,320 74,635
Impairment Loss 1,710,789 1,368,833 1,710,752 1,368,833 65,873 441,855
Losses 22,818,029 15,783,341 22,818,029 15,783,259 2,860,019 -
Profit/(Loss) Before Tax 53,273,935 44,305,155 53,340,714 43,510,947 24,664,774 17,645,262

Income Tax Expense 2,983,646 1,877,068 2,983,646 1,877,068 1,140,562 106,503
Profit/(Loss) After Tax 50,290,288 42,428,088 50,357,068 41,633,880 23,524,212 17,538,760
Net Assistance/Subsidy 29,197 60,662 (18,377) (32,606) (18,377) (32,606)

Assistance and Subsidy 47,574 93,268 - - - -
Financial Assistance/Subsidy/Contribution 18,377 32,606 18,377 32,606 18,377 32,606
Net Income/(Loss) 50,319,485 42,488,750 50,338,691 41,601,274 23,505,835 17,506,153

(Loss) for the Period 3,489,660 (7,355,409) 3,489,660 (7,355,409) 1,170,971 480,633
565
(in thousand pesos)
DBP AAIIBP DBPLC
2017 2016 2017 2016 2017 2016

Income 22,793,038 21,668,424 27,108 27,490 185,723 169,427

Service and Business Income 22,032,256 20,483,128 26,425 27,472 181,721 159,810
Service Income 805,786 514,829 2,381 2,005 - 1
Business Income 21,226,470 19,968,299 24,044 25,467 181,721 159,809
Shares, Grants and Donations - - - - - -
Grants and Donations - - - - - -
Gains 597,171 1,025,500 - - 304 7,815
Other Non-Operating Income 163,611 159,796 683 18 3,698 1,801
Reversal of Impairment Loss - - - - - -
Miscellaneous Income 163,611 159,796 683 18 3,698 1,801
Expenses 15,900,704 15,939,603 86,203 79,037 98,599 100,020

Personnel Services 3,164,686 3,019,178 45,968 41,867 21,476 20,989
Salaries and Wages 3,164,686 3,019,178 29,853 25,195 11,101 11,020
Other Compensation - - 10,639 11,565 9,604 8,986
Personnel Benefit Contributions - - 3,823 3,420 547 534
Other Personnel Benefits - - 1,653 1,687 224 448
Maintenance and Other Operating Expenses 4,423,187 4,131,979 35,190 33,946 19,237 19,569
Traveling Expenses - - 2,675 1,758 311 198
Training and Scholarship Expenses - - 896 937 584 259
Supplies and Materials Expenses 182,443 135,809 1,760 1,372 306 416
Utility Expenses 271,807 252,460 1,580 1,500 91 95
Communication Expenses - - 2,643 2,639 1,375 967
Awards/Rewards, Prizes and Indemnities - - - - - -
Development Expenses - - - - - -
Extraordinary Expenses 245,629 354,459 277 355 410 261
General Services 273,430 245,505 8,120 8,275 404 244
Repairs and Maintenance 78,581 96,291 1,476 1,261 38 27
Taxes, Insurance Premiums and Other Fees 2,577,681 2,306,467 5,346 5,354 11,398 10,569
Labor and Wages - - - - - -
Other Maintenance and Operating Expenses 697,623 616,747 8,821 7,797 2,898 4,122
Financial Expenses 7,433,998 7,663,076 780 526 47,641 35,505
Direct Costs - - - - - -
Non-Cash Expenses 878,833 1,125,370 4,264 2,698 10,245 23,957
Depreciation 381,774 367,859 1,357 1,753 1,952 4,377
Amortization - - 11 - 37 11
Impairment Loss 497,059 757,511 - 945 8,256 19,569
Losses - - 2,897 - - -
Profit/(Loss) Before Tax 6,892,334 5,728,821 (59,096) (51,546) 87,125 69,407

Income Tax Expense 1,403,030 1,292,350 - - 22,392 1,428
Profit/(Loss) After Tax 5,489,304 4,436,471 (59,096) (51,546) 64,733 67,979
Net Assistance/Subsidy - - - - - -
Assistance and Subsidy - - - - - -
Financial Assistance/Subsidy/Contribution - - - - - -
Net Income/(Loss) 5,489,304 4,436,471 (59,096) (51,546) 64,733 67,979

(Loss) for the Period 460,838 (381,454) - - - -
Comprehensive Income/(Loss) 5,950,142 4,055,017 (59,096) (51,546) 64,733 67,979
566
(in thousand pesos)
DBPMC DCI LBP
2017 2016 2017 2016 2017 2016

(Restated)
Income 1,281 3,594 147,700 227,311 54,095,908 47,420,511

Service and Business Income 1,281 1,301 147,700 227,311 51,236,665 45,022,096
Service Income - - - - 1,779,685 1,614,722
Business Income 1,281 1,301 147,700 227,311 49,456,981 43,407,375
Gains - 2,293 - - 2,424,423 1,549,718
Other Non-Operating Income - - - - 434,819 848,696
Miscellaneous Income - - - - 434,819 848,696
Expenses 236 229 145,973 209,667 38,270,930 32,949,975

Personnel Services - - 51,216 48,093 11,271,951 8,667,061
Salaries and Wages - - 34,109 27,570 11,271,951 8,667,061
Other Compensation - - 13,590 16,071 - -
Personnel Benefit Contributions - - 424 321 - -
Other Personnel Benefits - - 3,094 4,132 - -
Maintenance and Other Operating Expenses 236 229 94,030 161,137 14,043,393 11,842,486
Traveling Expenses - - 178 1,344 - -
Training and Scholarship Expenses - - 478 846 - -
Supplies and Materials Expenses - - 496 394 - -
Utility Expenses - - 753 849 - -
Communication Expenses - - 1,501 1,067 - -
Extraordinary Expenses 2 2 - - 6,237,041 5,634,163
Professional Services - - 82,503 150,059 319,669 179,879
General Services - - 387 461 - -
Repairs and Maintenance - - 67 120 - -
Taxes, Insurance Premiums and Other Fees 234 223 1,792 797 6,078,067 4,988,862
Other Maintenance and Operating Expenses - 4 5,873 5,197 1,408,615 1,039,581
Financial Expenses - - - - 10,236,434 10,677,828
Non-Cash Expenses - - 728 437 2,719,152 1,762,600
Depreciation - - 666 343 1,035,286 927,664
Amortization - - 62 94 - -
Impairment Loss - - - - 1,109,820 118,370
Losses - - - - 574,047 716,566
Profit/(Loss) Before Tax 1,046 3,365 1,726 17,643 15,824,977 14,470,536

Income Tax Expense - 680 509 5,280 319,612 365,084
Profit/(Loss) After Tax 1,046 2,684 1,217 12,363 15,505,365 14,105,452
Net Income/(Loss) 1,046 2,684 1,217 12,363 15,505,365 14,105,452

(Loss) for the Period (31) (2) - - 1,875,908 (7,416,089)
Comprehensive Income/(Loss) 1,015 2,682 1,217 12,363 17,381,273 6,689,363
567
(in thousand pesos)
LBRDC LIBI LLFC
2017 2016 2017 2016 2017 2016
Income 394,804 397,739 149,871 132,467 471,315 472,497

Service and Business Income 394,386 397,627 148,321 131,016 448,092 458,905
Service Income 365,368 356,557 112,574 94,960 9,406 17,767
Business Income 29,018 41,070 35,747 36,056 438,686 441,137
Gains 418 111 159 288 12,249 4,080
Other Non-Operating Income - - 1,392 1,164 10,974 9,513
Miscellaneous Income - - 1,392 1,164 10,974 9,513
Expenses 296,059 311,442 54,026 41,541 320,873 333,801

Personnel Services 9,162 5,564 33,332 18,073 173,148 168,309
Salaries and Wages 3,766 1,915 18,911 8,847 159,442 156,909
Personnel Benefit Contributions 245 99 720 580 846 894
Other Personnel Benefits - - 2,645 1,147 7,739 5,527
Maintenance and Other Operating Expenses 7,039 8,281 15,335 16,988 57,932 65,582
Traveling Expenses - - 751 297 - -
Training and Scholarship Expenses 156 158 173 247 - -
Supplies and Materials Expenses 543 363 710 730 1,016 1,081
Utility Expenses 226 225 1,009 991 1,200 1,200
Communication Expenses 104 157 1,306 1,074 771 863
Extraordinary Expenses 98 80 - - 377 413
Professional Services 214 187 1,314 864 854 710
General Services 29 184 1,120 2,151 - -
Repairs and Maintenance 325 725 262 250 5,835 8,007
Taxes, Insurance Premiums and Other Fees 3,052 3,492 1,553 2,108 28,555 31,524
Financial Expenses 273 156 86 230 61,784 61,476
Direct Costs 277,907 295,636 - - - -
Non-Cash Expenses 1,678 1,805 5,273 6,250 28,009 38,434
Depreciation 1,667 1,750 2,774 2,532 9,903 10,032
Amortization 11 55 - - 297 526
Impairment Loss - - 2,456 3,714 17,500 21,620
Losses - - 43 5 309 6,256
Profit/(Loss) Before Tax 98,745 86,297 95,845 90,926 150,441 138,697

Income Tax Expense 28,875 25,294 18,826 19,122 36,749 47,391
Profit/(Loss) After Tax 69,870 61,003 77,018 71,804 113,692 91,306
Net Income/(Loss) 69,870 61,003 77,018 71,804 113,692 91,306

(Loss) for the Period - - - - - -
Comprehensive Income/(Loss) 69,870 61,003 77,018 71,804 113,692 91,306
568
(in thousand pesos)
2017 2016 2017 2016 2017 2016
Income 333,293 287,812 152,862 192,320 31,381,778 27,294,358

Service Income - - - - - -
Business Income 332,667 287,326 152,041 191,386 30,014,333 27,172,281
Gains 221 37 185 182 751,088 44,888
Other Non-Operating Income 405 450 635 752 616,357 77,189
Reversal of Impairment Loss - - - - 611,781 51,105
Miscellaneous Income 405 450 635 752 4,576 26,084
Expenses 289,462 249,200 195,722 217,409 25,693,180 21,971,908

Personnel Services 11,309 10,997 13,679 15,133 1,039,513 1,014,423
Personnel Benefit Contributions 384 364 660 678 264,204 253,312
Other Personnel Benefits 798 782 1,536 1,954 59,302 59,271
Maintenance and Other Operating Expenses 9,996 9,268 14,048 14,489 1,717,442 2,482,096
Traveling Expenses 267 252 1,204 1,026 19,228 17,546
Training and Scholarship Expenses 141 386 138 197 3,710 3,624
Supplies and Materials Expenses 1,929 1,630 825 852 10,807 11,035
Utility Expenses 374 418 784 743 45,716 42,149
Communication Expenses 539 556 313 301 7,539 5,760
Awards/Rewards, Prizes and Indemnities 258 38 - - - -
Extraordinary Expenses 109 116 46 146 6,946 7,580
Professional Services 450 274 892 1,749 39,433 43,403
General Services 349 289 525 467 27,877 28,820
Labor and Wages 675 96 - - - -
Receivership and Liquidation Expenses - - - - 253,763 258,137
Other Maintenance and Operating Expenses 2,932 3,212 6,619 5,858 1,293,572 2,054,197
Financial Expenses 3 1 39,336 38,892 3,559,897 3,438,651
Direct Costs 264,408 226,055 122,519 147,557 - -
Non-Cash Expenses 3,745 2,879 6,141 1,338 19,376,328 15,036,738
Depreciation 1,766 1,462 672 492 15,344 17,758
Amortization 42 19 - - 10,164 13,527
Impairment Loss 1,938 1,397 5,227 438 8 3,071
Losses - - 242 408 19,350,812 15,002,382
Profit/(Loss) Before Tax 43,831 38,612 (42,860) (25,090) 5,688,598 5,322,450

Income Tax Expense 13,090 11,493 - - - -
Profit/(Loss) After Tax 30,740 27,119 (42,860) (25,090) 5,688,598 5,322,450
Net Income/(Loss) 30,740 27,119 (42,860) (25,090) 5,688,598 5,322,450

Comprehensive Income/(Loss) 30,740 27,119 (42,860) (25,090) 5,688,598 5,322,450
569
(in thousand pesos)
2017 2016 2017 2016 2017 2016

Income 530,601 674,783 35,276 877,406 2,251 853,785

Service Income 23,687 28,685 6,696 4,018 - -
Business Income 432,725 580,726 4,196 5,940 2,251 3,573
Shares, Grants and Donations - - 24,291 17,224 - -
Grants and Donations - - 24,291 17,224 - -
Gains 22,214 13,089 - 849,714 - 849,714
Other Non-Operating Income 51,974 52,283 92 511 - 497
Miscellaneous Income 51,974 52,283 92 511 - 497
Expenses 637,373 699,216 102,056 83,199 4,814 5,677

Other Compensation - - 7,862 6,746 672 597
Personnel Benefit Contributions - - 1,978 1,546 - -
Other Personnel Benefits - - 212 239 - -
Traveling Expenses 4,927 7,049 1,046 2,455 245 206
Training and Scholarship Expenses 1,654 3,821 12,502 8,551 67 29
Supplies and Materials Expenses 7,784 9,061 986 1,483 87 20
Utility Expenses 10,995 10,971 1,139 1,123 - -
Communication Expenses 4,777 4,922 4,277 2,445 9 10
Development Expenses - - 400 - - -
Extraordinary Expenses 625 742 526 497 - -
General Services 20,012 19,853 121 91 - -
Repairs and Maintenance 4,406 5,725 129 100 - -
Taxes, Insurance Premiums and Other Fees 46,395 60,434 1,633 2,222 811 1,440
Labor and Wages - - 658 - - -
Other Maintenance and Operating Expenses 124,355 105,135 13,843 11,562 89 237
Financial Expenses 130,099 158,628 3 3 - -
Non-Cash Expenses 59,647 85,505 24,040 20,659 54 18
Depreciation 27,372 27,519 5,356 3,308 - -
Amortization - - 18,647 17,270 18 18
Impairment Loss 2,616 344 36 - 36 -
Losses 29,659 57,642 - 81 - -
Profit/(Loss) Before Tax (106,772) (24,433) (66,780) 794,208 (2,563) 848,108

Income Tax Expense - 2,442 - - - -
Profit/(Loss) After Tax (106,772) (26,875) (66,780) 794,208 (2,563) 848,108
Net Assistance/Subsidy - - 47,574 93,268 - -

Assistance and Subsidy - - 47,574 93,268 - -
Net Income/(Loss) (106,772) (26,875) (19,206) 887,476 (2,563) 848,108

(Loss) for the Period (18,026) (38,497) - - - -
Comprehensive Income/(Loss) (124,798) (65,373) (19,206) 887,476 (2,563) 848,108
570
(in thousand pesos)
CIC LCDFI
2017 2016 2017 2016
Income 7,484 4,141 25,541 19,481

Service and Business Income 6,930 4,128 1,711 2,257
Service Income 6,696 4,018 - -
Business Income 234 110 1,711 2,257
Shares, Grants and Donations 462 - 23,829 17,224
Grants and Donations 462 - 23,829 17,224
Gains - - - -
Other Non-Operating Income 92 13 - -
Reversal of Impairment Loss - - - -
Miscellaneous Income 92 13 - -
Expenses 71,226 60,130 26,016 17,391

Salaries and Wages 12,720 9,577 4,133 3,422
Other Compensation 4,137 3,343 3,053 2,807
Personnel Benefit Contributions 1,685 1,297 293 249
Other Personnel Benefits - - 212 239

Traveling Expenses 789 2,237 12 12
Training and Scholarship Expenses 740 588 11,696 7,935
Supplies and Materials Expenses 875 1,364 25 99
Utility Expenses 1,112 1,123 27 -
Communication Expenses 4,015 2,203 252 231
Awards/Rewards, Prizes and Indemnities - - - -
Development Expenses - - 400 -
Extraordinary Expenses 176 173 351 324
Professional Services 11,038 7,075 29 281
General Services 121 91 - -
Repairs and Maintenance 78 54 51 47
Taxes, Insurance Premiums and Other Fees 777 706 46 76
Labor and Wages - - 658 -
Receivership and Liquidation Expenses - - - -
Other Maintenance and Operating Expenses 9,109 9,817 4,645 1,509
Financial Expenses 0 - 3 3
Direct Costs - - - -
Non-Cash Expenses 23,855 20,483 131 158
Depreciation 5,225 3,231 131 77
Amortization 18,630 17,252 - -
Impairment Loss - - - -
Losses - - - 81
Profit/(Loss) Before Tax (63,742) (55,989) (475) 2,090

Income Tax Expense - - - -
Profit/(Loss) After Tax (63,742) (55,989) (475) 2,090
Net Assistance/Subsidy 47,574 93,268 - -

Assistance and Subsidy 47,574 93,268 - -
Financial Assistance/Subsidy/Contribution - - - -
Net Income/(Loss) (16,168) 37,279 (475) 2,090

(Loss) for the Period - - - -
Comprehensive Income/(Loss) (16,168) 37,279 (475) 2,090
571
(in thousand pesos)
TOTAL GBE AFPRSBS

2017 2016 2017 2016 2017 2016
Income 538,545,495 514,301,215 536,893,715 512,342,560 663,011 789,009

Service and Business Income 397,992,310 359,070,658 396,639,945 357,386,783 659,470 781,866
Service Income 3,342,647 3,550,416 3,287,272 3,514,108 8,834 9,559
Business Income 394,649,663 355,520,242 393,352,673 353,872,676 650,636 772,307
Shares 269,173 251,635 - - - -
Gains 133,981,103 143,417,961 133,980,950 143,417,961 670 154
Other Non-Operating Income 6,302,909 11,560,960 6,272,819 11,537,815 2,871 6,990
Sale of Assets 15,627 2,621 15,627 2,530 - -
Reversal of Impairment Loss 3,704,085 10,568,287 3,704,085 10,568,287 - -
Miscellaneous Income 2,583,197 990,052 2,553,107 966,998 2,871 6,990
Expenses 392,382,119 399,733,327 390,770,122 398,145,700 256,016 570,559

Personnel Services 16,070,992 15,935,950 15,262,034 15,153,024 83,503 87,474
Salaries and Wages 6,696,882 6,411,502 6,233,894 5,990,313 40,659 41,411
Other Compensation 5,133,802 5,393,196 4,926,950 5,147,767 8,251 8,972
Personnel Benefit Contributions 3,350,130 3,111,004 3,292,194 3,053,504 2,000 2,160
Other Personnel Benefits 890,178 1,020,248 808,996 961,440 32,592 34,931
Maintenance and Other Operating Expenses 279,372,106 234,777,259 278,665,097 234,163,419 26,846 99,317
Traveling Expenses 231,159 221,451 199,768 197,312 642 1,861
Development Expenses 17,997 10,329 16,869 9,813 - -
Drilling/Dredging Expenses 88 13 - - - -
Extraordinary Expenses 115,895 111,603 114,916 110,939 301 618
Professional Services 566,031 528,929 309,023 308,373 2,043 (448)
Labor and Wages 772,562 541,003 772,562 541,003 - -
Members' Benefits 264,140,387 219,715,188 264,140,387 219,715,188 - -
Other Maintenance and Operating Expenses 8,509,618 8,895,454 8,405,416 8,824,681 4,615 77,210
Financial Expenses 1,038,506 1,095,151 1,028,220 1,084,924 4,704 175,219
Direct Costs 151,571 217,725 151,571 217,725 136,818 203,341

Non-Cash Expenses 95,748,943 147,707,241 95,663,199 147,526,607 4,145 5,208
Depreciation 1,474,136 1,439,956 1,413,448 1,389,792 4,145 5,059
Amortization 226,986 218,808 226,986 218,808 - -
Impairment Loss 8,411,212 23,224,717 8,409,601 23,123,984 - 149
Losses 85,610,245 122,799,742 85,609,664 122,791,806 - -
Discount and Rebates 26,364 24,018 3,500 2,217 - -
Profit/(Loss) Before Tax 146,163,377 114,567,887 146,123,593 114,196,860 406,995 218,449

Income Tax Expense 269,906 267,380 269,906 267,380 - -
Profit/(Loss) After Tax 145,893,471 114,300,507 145,853,687 113,929,480 406,995 218,449
Net Assistance/Subsidy 21,836,777 12,866,180 3,628,221 2,684,380 - -

Assistance and Subsidy 23,294,632 14,893,665 3,737,353 2,853,561 - -
Financial Assistance/Subsidy/Contribution 1,457,855 2,027,484 109,132 169,181 - -
Net Income/(Loss) 167,730,248 127,166,688 149,481,908 116,613,860 406,995 218,449

(Loss) for the Period 3,321,935 (4,627,383) 3,321,935 (4,627,383) 2,326 552
Comprehensive Income/(Loss) 171,052,183 122,539,304 152,803,843 111,986,477 409,321 219,001
572
(in thousand pesos)
SUMSI GSIS HDMF

2017 2016 2017 2016 2017 2016
(Restated)
Income 33,778 33,378 276,069,438 278,813,659 54,019,515 49,654,606

Service and Business Income 33,236 33,077 162,199,650 150,459,519 44,437,910 33,162,326
Service Income - - 530,388 1,108,438 2,732,767 2,363,062
Business Income 33,236 33,077 161,669,262 149,351,082 41,705,144 30,799,264
Shares - - - - - -
Gains - - 111,979,165 127,818,208 6,283,347 6,230,962
Other Non-Operating Income 543 301 1,890,623 535,931 3,298,258 10,261,318
Sale of Assets - - 4,736 2,530 - -
Reversal of Impairment Loss - - 16,624 288,379 3,211,836 10,167,856
Miscellaneous Income 543 301 1,869,264 245,022 86,421 93,462
Expenses 24,669 25,068 181,282,900 222,633,508 23,747,557 24,643,256

Personnel Services 5,664 5,868 3,743,139 4,024,434 4,312,185 4,048,566
Salaries and Wages 5,426 5,629 1,474,377 1,533,014 1,415,050 1,407,211
Other Compensation 238 239 1,353,728 1,519,049 1,783,941 1,692,337
Personnel Benefit Contributions - - 812,825 852,850 831,185 686,342
Maintenance and Other Operating Expenses 4,013 3,849 98,714,989 91,193,021 5,316,679 6,051,423
Traveling Expenses - - 33,442 32,549 68,694 72,452
Training and Scholarship Expenses 343 283 88,328 75,442 36,596 35,362
Supplies and Materials Expenses 297 380 97,559 103,328 256,243 192,865
Utility Expenses 194 207 157,731 154,509 194,938 173,587
Communication Expenses 322 249 156,372 145,108 158,703 115,971
Development Expenses - - - - 16,588 9,461
Drilling/Dredging Expenses - - - - - -
Extraordinary Expenses 138 128 - - 99,898 95,503
Professional Services 331 307 56,276 45,936 53,860 70,555
General Services - - 223,366 201,905 989,952 1,113,635
Repairs and Maintenance 170 67 241,084 189,312 39,009 32,290
Taxes, Insurance Premiums and Other Fees 360 353 188,903 144,340 16,943 14,931
Labor and Wages - - 855 918 304,080 38,669
Members' Benefits - - 93,338,608 86,601,480 118,202 134,934
Other Maintenance and Operating Expenses 1,859 1,874 4,132,464 3,498,194 2,962,974 3,951,206
Financial Expenses - 1 123,143 131,981 44,810 27,879
Direct Costs 14,753 14,384 - - - -

Non-Cash Expenses 239 966 78,701,628 127,284,071 14,073,883 14,515,388
Depreciation 239 252 494,381 499,671 681,899 648,115
Amortization - - 139,184 136,665 26,725 26,860
Impairment Loss - 714 - 5,453,669 5,852,948 12,649,390
Losses - - 78,068,063 121,194,066 7,508,811 1,188,806
Discount and Rebates - - - - 3,500 2,217
Profit/(Loss) Before Tax 9,109 8,310 94,786,538 56,180,151 30,271,958 25,011,349

Profit/(Loss) After Tax 6,508 5,870 94,786,538 56,180,151 30,271,958 25,011,349
Net Assistance/Subsidy - - (80,752) (75,789) (3,845) (2,604)

Financial Assistance/Subsidy/Contribution - - 80,752 75,789 3,845 2,604
Net Income/(Loss) 6,508 5,870 94,705,786 56,104,363 30,268,113 25,008,745

(Loss) for the Period - - 3,701 229,979 (4,034,731) (1,818,488)
Comprehensive Income/(Loss) 6,508 5,870 94,709,488 56,334,342 26,233,382 23,190,257
573
(in thousand pesos)
HGC NHMFC SHFC

2017 2016 2017 2016 2017 2016
Income 1,659,151 1,940,544 811,823 776,390 688,204 584,026

Service Income - - 10,609 20,529 - -
Business Income 1,626,954 1,887,575 568,614 505,268 688,204 584,026
Shares - - - - - -
Gains 20,158 33,058 2,100 3 - -
Other Non-Operating Income 12,039 19,911 230,501 250,589 - -
Sale of Assets - - 10,891 - - -
Reversal of Impairment Loss 11,319 18,849 - - - -
Miscellaneous Income 720 1,062 219,610 250,589 - -
Expenses 913,030 959,884 697,460 757,590 418,863 391,319

Personnel Benefit Contributions 20,215 16,973 28,814 26,299 19,842 17,164
Other Personnel Benefits 2,803 2,860 22,807 20,492 4,213 5,343
Traveling Expenses 1,356 762 4,221 7,798 13,795 8,648
Development Expenses - - 281 352 - -
General Services 9,822 10,459 13,779 12,799 12,773 10,807
Members' Benefits - - - - - -
Financial Expenses 474,784 404,705 112,103 110,159 5,308 5,840
Depreciation 7,276 10,139 17,233 10,984 12,073 13,724
Amortization 1,846 4,282 8,682 8,634 552 826
Impairment Loss - 71,651 36,118 45,643 5,022 4,363
Losses 1,983 28,615 18,056 125,134 - -
Discount and Rebates - - - - - -

Profit/(Loss) After Tax 535,635 690,940 84,007 (6,685) 210,556 152,788
Net Assistance/Subsidy - - 1,000,000 750,000 1,221,670 1,885,010

Assistance and Subsidy - - 1,000,000 750,000 1,246,205 1,975,798
Financial Assistance/Subsidy/Contribution - - - - 24,535 90,788
Net Income/(Loss) 535,635 690,940 1,084,007 743,315 1,432,226 2,037,798

(Loss) for the Period - (464) (7,772) 19,467 - -
Comprehensive Income/(Loss) 535,635 690,476 1,076,235 762,782 1,432,226 2,037,798
574
(in thousand pesos)
PDGCC SBGFC SSS

2017 2016 2017 2016 2017 2016
Income 19,814 20,829 387,009 381,890 202,390,265 179,175,004

Service Income - - 4,449 4,201 - -
Business Income 19,631 20,651 310,860 301,457 185,928,657 169,453,409
Shares - - - - - -
Gains - - 67,886 72,883 15,627,624 9,262,364
Other Non-Operating Income 183 178 3,814 3,349 833,984 459,231
Sale of Assets - - - - - -
Reversal of Impairment Loss - - - - 464,307 93,203
Miscellaneous Income 183 178 3,814 3,349 369,677 366,028
Expenses 16,921 15,561 414,328 311,659 182,656,443 147,288,441

Salaries and Wages 1,794 1,474 100,032 63,427 2,875,008 2,654,151
Other Compensation 653 621 33,833 45,387 1,548,264 1,673,197
Personnel Benefit Contributions 92 81 23,842 15,317 1,536,615 1,419,615
Other Personnel Benefits 751 - 6,331 5,083 347,669 505,878
Maintenance and Other Operating Expenses 13,364 13,178 76,685 74,186 173,684,618 135,934,543
Training and Scholarship Expenses 9 22 1,978 1,768 62,653 57,710
Utility Expenses - - 2,125 2,633 236,117 226,497
Extraordinary Expenses 191 126 5,481 5,925 1,830 1,765
Labor and Wages - - - - 467,627 501,417
Members' Benefits - - - - 170,683,577 132,978,774
Other Maintenance and Operating Expenses 132 195 33,397 25,349 982,228 966,139
Financial Expenses - 0 39,194 38,235 178,168 141,093
Non-Cash Expenses 267 207 134,411 70,024 2,486,101 4,959,965
Depreciation 267 187 8,123 6,990 181,402 185,008
Amortization - - - - 48,540 39,747
Impairment Loss - - 126,289 61,863 2,243,414 4,481,798
Losses - 20 - 1,172 12,746 253,412
Profit/(Loss) Before Tax 2,893 5,268 (27,319) 70,230 19,733,822 31,886,562

Income Tax Expense - - 24,775 23,374 - -
Profit/(Loss) After Tax 2,893 5,268 (52,094) 46,856 19,733,822 31,886,562
Net Assistance/Subsidy - - 950,072 9,352 541,076 118,411

Assistance and Subsidy - - 950,072 9,352 541,076 118,411
Net Income/(Loss) 2,893 5,268 897,978 56,208 20,274,898 32,004,973

(Loss) for the Period - - (122,302) (57,416) 7,488,488 (3,001,760)
Comprehensive Income/(Loss) 2,893 5,268 775,676 (1,208) 27,763,386 29,003,214
575
(in thousand pesos)
TIDCORP Non-GBE ECC

2017 2016 2017 2016 2017 2016
Income 151,707 173,227 1,651,781 1,958,655 125,963 133,064

Service and Business Income 151,701 172,881 1,352,365 1,683,875 15,397 14,315
Service Income 225 8,320 55,375 36,308 - -
Business Income 151,476 164,561 1,296,990 1,647,567 15,397 14,315
Shares, Grants and Donations - - 269,173 251,635 110,566 118,749
Shares - - 269,173 251,635 110,566 118,749
Gains 2 330 153 - - -
Other Non-Operating Income 4 17 30,089 23,145 - -
Sale of Assets - - - 91 - -
Miscellaneous Income 4 17 30,089 23,054 - -
Expenses 341,935 548,854 1,611,997 1,587,628 143,616 106,494

Training and Scholarship Expenses 1,688 957 35,038 30,510 9,415 6,539
Development Expenses - - 1,128 516 - -
Drilling/Dredging Expenses - - 88 13 - -
Extraordinary Expenses - - 979 664 740 414
Taxes, Insurance Premiums and Other Fees 10,513 4,507 29,251 27,189 114 103
Financial Expenses 46,006 49,811 10,286 10,228 10 -
Depreciation 6,409 9,664 60,689 50,165 3,240 3,043
Amortization 1,457 1,794 - - - -
Impairment Loss 145,810 354,743 1,610 100,733 - -
Losses 5 582 581 7,936 - 930
Discount and Rebates - - 22,864 21,800 - -
Profit/(Loss) Before Tax (190,228) (375,626) 39,784 371,027 (17,653) 26,569

Income Tax Expense (57,097) (113,557) - - - -
Profit/(Loss) After Tax (133,131) (262,070) 39,784 371,027 (17,653) 26,569
Net Assistance/Subsidy - - 18,208,556 10,181,800 - -

Assistance and Subsidy - - 19,557,279 12,040,104 - -
Financial Assistance/Subsidy/Contribution - - 1,348,723 1,858,304 - -
Net Income/(Loss) (133,131) (262,070) 18,248,340 10,552,828 (17,653) 26,569

(Loss) for the Period (7,776) 746 - - - -
Comprehensive Income/(Loss) (140,907) (261,324) 18,248,340 10,552,828 (17,653) 26,569
- -
576
(in thousand pesos)
NHA OSHC
2017 2016 2017 2016
Income 1,339,982 1,663,351 185,836 162,240

Service and Business Income 1,309,739 1,640,206 27,229 29,354
Service Income 55,375 36,308 - -
Business Income 1,254,364 1,603,898 27,229 29,354
Shares, Grants and Donations - - 158,607 132,886
Shares - - 158,607 132,886
Gains 153 - - -
Other Non-Operating Income 30,089 23,145 - -
Sale of Assets - 91 - -
Miscellaneous Income 30,089 23,054 - -
Expenses 1,313,609 1,346,077 154,772 135,057

Personnel Benefit Contributions 48,275 49,374 4,860 3,946
Other Personnel Benefits 62,884 45,470 10,285 9,073
Traveling Expenses 23,039 17,186 4,808 3,666
Training and Scholarship Expenses 6,387 3,956 19,235 20,016
Supplies and Materials Expenses 35,199 33,827 15,619 9,135
Utility Expenses 39,126 35,894 4,848 4,712
Communication Expenses 8,889 8,813 2,069 2,351
Development Expenses 1,128 516 - -
Drilling/Dredging Expenses 88 13 - -
Professional Services 243,929 210,031 2,467 2,579
General Services 94,925 95,119 13,484 9,722
Repairs and Maintenance 16,015 23,012 1,961 1,165
Taxes, Insurance Premiums and Other Fees 28,532 26,615 605 471
Labor and Wages - - - -
Members' Benefits - - - -
Other Maintenance and Operating Expenses 64,783 48,782 3,775 7,217
Financial Expenses 10,276 10,228 - -
Non-Cash Expenses 69,164 164,242 13,339 12,419
Depreciation 44,440 35,037 13,008 12,086
Amortization - - - -
Impairment Loss 1,279 100,400 331 334
Losses 581 7,006 - -
Discount and Rebates 22,864 21,800 - -
Profit/(Loss) Before Tax 26,373 317,275 31,064 27,183

Income Tax Expense - - - -
Profit/(Loss) After Tax 26,373 317,275 31,064 27,183
Net Assistance/Subsidy 18,208,556 10,181,800 - -

Assistance and Subsidy 19,557,279 12,040,104 - -
Financial Assistance/Subsidy/Contribution 1,348,723 1,858,304 - -
Net Income/(Loss) 18,234,929 10,499,075 31,064 27,183

Comprehensive Income/(Loss) 18,234,929 10,499,075 31,064 27,183
577
(in thousand pesos)
TOTAL GBE APO

2017 2016 2017 2016 2017 2016
Income 162,665,656 168,855,464 51,555,122 50,119,528 870,428 879,855
Service Income 3,734,309 4,040,411 644,469 800,607 - -
Business Income 136,618,459 134,951,101 50,564,713 48,803,205 868,189 872,009
Shares, Grants and Donations 19,805,848 19,946,235 38,632 75,328 - -

Shares 19,765,522 19,868,761 - - - -
Gains 1,562,718 9,013,593 27,162 179,810 - -
Other Non-Operating Income 944,321 904,124 280,145 260,579 2,239 7,846

Sale of Assets 2,928 1,938 2,928 1,915 - -
Reversal of Impairment Loss 48 867 48 867 - -
Miscellaneous Income 941,346 901,319 277,170 257,796 2,239 7,846
Expenses 144,161,701 164,439,598 36,341,183 34,412,736 719,451 818,663

Personnel Benefit Contributions 1,141,464 1,096,983 809,801 772,525 2,620 3,208
Other Personnel Benefits 1,049,864 1,024,249 763,874 665,839 5,176 5,313
Supplies and Materials Expenses 24,821,189 21,261,642 1,425,556 1,224,435 2,929 3,081
Awards/Rewards, Prizes and Indemnities 97,477 65,228 41,423 12,658 - -
Development Expenses 5,996 7,965 5,996 7,359 56 -
Drilling/Dredging Expenses 268,979 330,427 268,979 330,427 - -
Distribution Expenses 24,203,209 22,466,630 2,479,026 2,121,768 - -
Taxes, Insurance Premiums and Other Fees 1,419,506 4,062,761 659,883 685,299 1,673 1,206
Labor and Wages 602,699 554,212 235,742 207,601 - -
Members' Benefits 459 2,224 459 535 - -
Other Maintenance and Operating Expenses 11,951,367 12,493,606 1,310,408 958,748 9,324 13,652
Financial Expenses 23,901,567 24,949,028 1,166,887 1,344,854 361 1,532
Direct Costs 6,646,342 6,329,734 2,960,820 3,035,256 606,973 663,976

Depreciation 16,321,542 17,089,463 5,798,160 5,067,065 7,262 6,948
Amortization 166,672 159,678 158,897 150,235 - -
Impairment Loss 2,925,471 2,564,250 115,320 389,546 - 2,138
Losses 5,495,732 27,722,569 698,696 467,012 0 923
Discount and Rebates 50,050 25,685 50,050 25,685 - -
578
(in thousand pesos)
TOTAL GBE APO

2017 2016 2017 2016 2017 2016

Net Assistance/Subsidy (931,435) 3,108,155 (10,525) (10,623) - -

Assistance and Subsidy 3,078,880 5,576,116 1,772 1,579 - -
Financial Assistance/Subsidy/Contribution 4,010,315 2,467,961 12,297 12,201 - -
Net Income/(Loss) 12,758,980 4,361,878 11,771,918 13,145,652 143,570 58,047

(Loss) for the Period (11,229) 16,304 (11,229) 16,304 - -
579
(in thousand pesos)

2017 2016 2017 2016 2017 2016
Income 1,601,632 1,686,955 571,727 1,262,815 110,156 105,556
Service and Business Income 1,601,556 1,686,153 570,705 1,253,180 110,130 99,262
Service Income 171 - - - - -
Business Income 1,601,385 1,686,153 570,705 1,253,180 110,130 99,262

Shares - - - - - -
Gains - - 0 7,447 - -
Other Non-Operating Income 76 802 1,023 2,188 27 6,294

Miscellaneous Income 76 802 1,023 2,188 27 6,294
Expenses 621,825 847,355 257,172 286,034 47,303 61,191
Personnel Services 139,639 140,417 91,973 92,345 17 7,285

Salaries and Wages 53,217 48,268 54,645 50,069 - 3,351
Other Compensation 78,490 82,581 23,520 29,687 15 2,808
Personnel Benefit Contributions 7,168 6,651 7,087 6,677 - 230
Other Personnel Benefits 763 2,917 6,722 5,911 2 895
Training and Scholarship Expenses 1,270 635 2,022 2,359 - -
Utility Expenses 33,675 35,649 9,191 9,767 - 272
Distribution Expenses - - - - - -
Extraordinary Expenses - - 228 - - -
Professional Services 3,932 2,967 10,679 17,763 884 900
Other Maintenance and Operating Expenses 26,512 23,395 32,617 31,335 47 1,737
Financial Expenses 41 34 2,025 1,408 384 229
Direct Costs - - - - 45,245 48,680

Depreciation 93,123 86,619 28,050 26,905 17 57
Amortization 610 517 - - - -
Impairment Loss 4,576 - 10,110 41,742 265 -
Losses - - 3,116 265 - -
580
(in thousand pesos)

2017 2016 2017 2016 2017 2016

Profit/(Loss) After Tax 685,451 588,871 289,232 968,735 48,039 33,668
Net Income/(Loss) 685,451 588,871 289,232 968,735 48,039 33,668

(Loss) for the Period - - 140 45 - -
581
(in thousand pesos)

2017 2016 2017 2016 2017 2016
Income 57,229 58,959 4,380,310 4,062,777 33,892 17,189
Service Income - - 113,370 187,052 - -
Business Income 57,229 58,959 4,258,979 3,707,186 32,226 16,013

Shares - - - - - -
Gains - - 5,201 167,657 - -
Other Non-Operating Income - - 2,761 882 1,666 1,176

Miscellaneous Income - - 2,761 882 1,666 1,176
Expenses 18,083 20,812 2,364,146 2,435,320 81,961 67,895
Personnel Services 333 9,815 189,525 206,576 39,314 33,801

Salaries and Wages 240 4,453 104,880 100,685 26,879 22,817
Other Compensation - 171 39,600 47,367 8,207 7,209
Personnel Benefit Contributions - 1,692 8,700 10,109 858 754
Other Personnel Benefits 93 3,499 36,345 48,415 3,370 3,021
Training and Scholarship Expenses - - 5,353 4,367 - -
Utility Expenses - 373 11,883 11,459 725 675
Awards/Rewards, Prizes and Indemnities - - 41 327 - -
Extraordinary Expenses - - - - 815 1,413
General Services 217 495 27,449 26,702 8,879 7,505
Repairs and Maintenance 80 226 40,436 29,844 1,031 866
Taxes, Insurance Premiums and Other Fees 927 1,302 27,492 13,214 4,613 5,170
Other Maintenance and Operating Expenses 734 2,350 37,493 29,619 6,935 5,823
Financial Expenses 253 166 2,098 674 - -
Direct Costs 493 1,502 1,925,224 1,971,485 7,944 2,942

Depreciation 70 168 48,345 54,169 2,494 2,328
Amortization - - - - - -
Impairment Loss 14,056 2,526 4,233 14,888 - -
Losses - - 7,874 36,735 - -
Profit/(Loss) Before Tax 39,147 38,147 2,016,164 1,627,457 (48,069) (50,706)
582
(in thousand pesos)

2017 2016 2017 2016 2017 2016
Income Tax Expense 7,174 7,667 906,426 623,183 124 52

Profit/(Loss) After Tax 31,973 30,480 1,109,738 1,004,274 (48,193) (50,758)
Net Income/(Loss) 31,973 30,480 1,109,738 1,004,274 (48,193) (50,758)

(Loss) for the Period - - (14,519) 13,109 - -
Comprehensive Income/(Loss) 31,973 30,480 1,095,219 1,017,384 (48,193) (50,758)
583
(in thousand pesos)

2017 2016 2017 2016 2017 2016
(Restated)
Income 2,220 551 15,356,176 14,321,465 19,330 4,338
Service and Business Income 72 67 15,328,450 14,300,416 3,313 4,086

Service Income - - 124,819 121,756 - -
Business Income 72 67 15,203,631 14,178,660 3,313 4,086

Shares - - - - - -
Gains 1,969 2 189 1,342 15,798 -
Other Non-Operating Income 180 482 27,537 19,706 218 252

Miscellaneous Income 180 482 27,537 19,706 218 252
Expenses 316,756 18,202 8,710,818 7,979,163 3,991 4,319
Personnel Services 1,240 1,045 1,333,979 1,093,707 3,390 3,658

Salaries and Wages 949 806 713,095 588,915 1,682 1,682
Other Compensation 252 200 435,190 381,666 1,562 1,802
Personnel Benefit Contributions 38 32 95,631 81,740 90 112
Other Personnel Benefits - 7 90,063 41,386 56 61
Maintenance and Other Operating Expenses 312,245 322 3,558,124 3,789,183 487 543
Traveling Expenses - 16 38,943 41,935 - -
Training and Scholarship Expenses 2 - 74,205 45,225 - -
Supplies and Materials Expenses 51 67 98,862 82,910 31 49
Utility Expenses - - 193,400 178,800 129 92
Awards/Rewards, Prizes and Indemnities - - 640 120 - -
Drilling/Dredging Expenses - - 266,235 328,479 - -
Extraordinary Expenses - - 2,000 2,015 84 109
Professional Services - - 372,403 347,619 9 49
General Services - - 427,937 405,499 158 158
Repairs and Maintenance 1 20 1,919,543 2,151,521 25 45
Taxes, Insurance Premiums and Other Fees 7 15 56,726 118,042 - -
Other Maintenance and Operating Expenses 312,172 192 66,873 56,944 - -
Financial Expenses 0 1,806 131,770 142,513 - -
Non-Cash Expenses 3,271 15,029 3,686,946 2,953,760 114 118

Depreciation 843 2,910 2,854,209 2,239,162 114 118
Amortization - - 141,126 141,126 - -
Impairment Loss 2,426 6,449 8,659 156,623 - -
Losses 2 5,670 682,673 416,669 - -
Discount and Rebates - - 278 180 - -
Profit/(Loss) Before Tax (314,535) (17,651) 6,645,359 6,342,301 15,339 19
584
(in thousand pesos)

2017 2016 2017 2016 2017 2016
(Restated)
Income Tax Expense 538 (196) 2,171,896 1,643,605 - -

Profit/(Loss) After Tax (315,074) (17,455) 4,473,463 4,698,697 15,339 19
Net Income/(Loss) (315,074) (17,455) 4,473,463 4,698,697 15,339 19

(Loss) for the Period 3,150 3,150 - - - -
Comprehensive Income/(Loss) (311,924) (14,305) 4,473,463 4,698,697 15,339 19
585
(in thousand pesos)

2017 2016 2017 2016 2017 2016
Income 28,552,020 27,719,068 111,110,534 118,735,936 1,581,993 2,371,108
Service Income 406,109 491,799 3,089,840 3,239,804 40,602 -
Business Income 27,858,854 26,927,629 86,053,747 86,147,896 1,541,391 2,371,108
Shares, Grants and Donations 38,632 75,328 19,767,216 19,870,908 - -

Shares - - 19,765,522 19,868,761 - -
Gains 4,005 3,361 1,535,556 8,833,783 - -
Other Non-Operating Income 244,420 220,950 664,176 643,545 - -

Sale of Assets 2,928 1,915 - 22 - -
Reversal of Impairment Loss 48 867 - - - -
Miscellaneous Income 241,444 218,168 664,176 643,523 - -
Expenses 23,199,677 21,873,782 107,820,518 130,026,862 5,108,745 5,702,411

Traveling Expenses 165,690 147,575 180,015 144,960 1,881 425
Supplies and Materials Expenses 1,292,994 1,107,459 23,395,633 20,037,208 10,981 8,174
Utility Expenses 2,969,849 2,694,817 129,832 125,246 4,068 544
Awards/Rewards, Prizes and Indemnities 40,684 12,063 56,053 52,570 - -
Development Expenses 5,940 7,359 - 606 - 445
Drilling/Dredging Expenses 2,744 1,948 - - - -
Distribution Expenses 2,479,026 2,121,768 21,724,183 20,344,863 - -
Repairs and Maintenance 1,112,848 1,086,463 696,084 526,838 14,619 4,872
Taxes, Insurance Premiums and Other Fees 541,817 521,259 759,623 3,377,462 87,852 72,487
Labor and Wages 235,742 207,601 366,957 346,611 - -
Members' Benefits 459 535 - 1,689 - -
Other Maintenance and Operating Expenses 817,701 793,701 10,640,959 11,534,858 8,520 11,873
Direct Costs 374,942 346,671 3,685,522 3,294,478 618,262 571,061

Depreciation 2,763,633 2,647,679 10,523,382 12,022,398 1,300,428 1,281,289
Amortization 17,161 8,592 7,776 9,443 - -
Impairment Loss 70,995 165,180 2,810,151 2,174,703 101 187
Losses 5,030 6,751 4,797,037 27,255,557 1,174,368 1,961,251
Discount and Rebates 49,772 25,504 - - - -
Profit/(Loss) Before Tax 5,352,342 5,845,286 3,290,016 (11,290,926) (3,526,752) (3,331,304)
586
(in thousand pesos)

2017 2016 2017 2016 2017 2016
Income Tax Expense 3,437 3,590 1,382,044 611,626 - -

Profit/(Loss) After Tax 5,348,905 5,841,696 1,907,972 (11,902,552) (3,526,752) (3,331,304)
Net Assistance/Subsidy (10,525) (10,623) (920,910) 3,118,778 819,389 1,655,398

Assistance and Subsidy 1,772 1,579 3,077,108 5,574,537 819,389 1,655,398
Financial Assistance/Subsidy/Contribution 12,297 12,201 3,998,018 2,455,760 - -
Net Income/(Loss) 5,338,380 5,831,073 987,062 (8,783,774) (2,707,363) (1,675,906)

Comprehensive Income/(Loss) 5,338,380 5,831,073 987,062 (8,783,774) (2,707,363) (1,675,906)
- -
587
(in thousand pesos)
LWUA MWSS NEA

2017 2016 2017 2016 2017 2016
Income 521,489 666,166 2,473,183 2,838,264 708,078 667,624
Service Income 82,841 147,396 - - 54,307 31,445
Business Income 423,202 515,538 2,471,636 2,838,026 621,105 599,957

Shares - - - - - -
Gains 15,445 3,232 - - - 801
Other Non-Operating Income - - 1,546 238 32,666 35,420

Sale of Assets - - - 22 - -
Miscellaneous Income - - 1,546 215 32,666 35,420
Expenses 740,998 922,751 1,668,362 2,361,722 484,539 504,577

Traveling Expenses 6,015 4,829 563 586 15,414 16,478
Extraordinary Expenses 1,033 763 1,157 845 3,089 3,112
Non-Cash Expenses 291,973 363,784 1,093,637 1,638,211 36,399 44,162

Depreciation 2,265 2,363 987,199 1,119,411 18,698 18,869
Amortization - - 6,161 8,123 - -
Impairment Loss 4,444 131,953 - - 16,872 25,293
Losses 285,264 229,468 100,276 510,677 829 -
Profit/(Loss) Before Tax (219,509) (256,586) 804,820 476,541 223,540 163,047
588
(in thousand pesos)
LWUA MWSS NEA

2017 2016 2017 2016 2017 2016

Profit/(Loss) After Tax (233,206) (285,223) 797,999 465,743 152,648 109,392
Net Income/(Loss) (233,206) (285,223) 797,999 465,743 152,648 109,392

Comprehensive Income/(Loss) (233,206) (285,223) 797,999 465,743 152,648 109,392
589
(in thousand pesos)
NPC PNR PPC

2017 2016 2017 2016 2017 2016
(Restated)
Income 12,277,229 10,237,708 443,637 460,945 3,536,714 3,545,525
Service and Business Income 3,034,696 3,234,896 399,778 452,662 3,523,873 3,515,330
Service Income 16,397 25,658 - - 2,894,605 3,035,305
Business Income 3,018,299 3,209,238 399,778 452,662 629,268 480,024
Shares, Grants and Donations 8,665,834 6,407,998 - - 2 159

Shares 8,664,143 6,406,011 - - - -
Grants and Donations 1,692 1,987 - - 2 159
Gains 451 793 3,599 3,543 - 21,327

Expenses 7,139,478 7,034,250 1,736,962 1,436,135 3,458,921 3,525,702

Salaries and Wages 552,445 460,460 66,343 66,150 1,073,497 1,084,135
Maintenance and Other Operating Expenses 2,101,238 2,232,453 771,007 699,932 1,489,534 1,455,254
Traveling Expenses 64,544 54,876 784 1,094 59,630 44,688
Training and Scholarship Expenses 6,606 9,722 928 680 8,274 4,034
Awards/Rewards, Prizes and Indemnities 55,733 51,981 113 446 208 143
Development Expenses - - - 162 - -
Distribution Expenses 295,817 294,258 - - - -
Extraordinary Expenses 772 709 - - 1,663 2,042
Labor and Wages - - 151,255 160,460 215,702 186,151
Members' Benefits - - - 1,689 - -
Other Maintenance and Operating Expenses 989,873 1,148,409 7,599 10,931 637,559 750,231
Direct Costs 3,057,822 2,714,796 - - 9,437 8,621
Non-Cash Expenses 1,091,073 1,276,657 425,544 292,555 103,582 120,104

Depreciation 483,657 342,251 230,232 204,913 99,869 98,671
Impairment Loss 509,205 934,334 - - 1,934 21,033
Losses 98,212 72 195,312 87,642 1,778 400
Profit/(Loss) Before Tax 5,137,751 3,203,458 (1,293,325) (975,190) 77,793 19,823
590
(in thousand pesos)
NPC PNR PPC

2017 2016 2017 2016 2017 2016
(Restated)
Income Tax Expense 520,277 512,636 - - 40,035 5,899

Profit/(Loss) After Tax 4,617,474 2,690,822 (1,293,325) (975,190) 37,758 13,924
Net Assistance/Subsidy (2,405,263) (1,043,967) 529,502 809,541 536,537 301,000

Assistance and Subsidy 1,191,680 980,822 529,502 809,541 536,537 301,000
Financial Assistance/Subsidy/Contribution 3,596,943 2,024,790 - - - -
Net Income/(Loss) 2,212,211 1,646,855 (763,823) (165,650) 574,295 314,924

Comprehensive Income/(Loss) 2,212,211 1,646,855 (763,823) (165,650) 574,295 314,924
591
(in thousand pesos)
PSALM TRANSCO
2017 2016 2017 2016
(Restated)
Income 79,590,413 87,975,634 9,977,799 9,972,962
Service and Business Income 66,973,960 65,711,101 9,976,195 9,970,242

Service Income 1,088 - - -
Business Income 66,972,872 65,711,101 9,976,195 9,970,242
Shares, Grants and Donations 11,101,379 13,462,750 - -

Shares 11,101,379 13,462,750 - -
Grants and Donations - - - -
Gains 1,515,073 8,801,783 987 2,304
Other Non-Operating Income - - 617 417

Sale of Assets - - - -
Miscellaneous Income - - 617 417
Expenses 82,728,461 104,228,254 4,754,053 4,311,059

Personnel Benefit Contributions 12,322 11,801 19,154 12,252
Other Personnel Benefits 24,796 7,600 3,837 3,175
Maintenance and Other Operating Expenses 54,054,476 52,599,048 123,989 121,175

Traveling Expenses 12,388 10,872 18,797 11,112
Training and Scholarship Expenses 1,134 2,153 4,104 4,567
Supplies and Materials Expenses 22,955,881 19,685,319 4,789 3,988
Utility Expenses 4,873 6,012 6,196 6,143
Communication Expenses 9,109 6,586 3,666 3,158
Awards/Rewards, Prizes and Indemnities - - - -
Development Expenses - - - -
Drilling/Dredging Expenses - - - -
Distribution Expenses 21,428,366 20,050,604 - -
Professional Services 149,334 82,682 47,821 45,031
General Services 13,891 12,373 16,798 15,817
Repairs and Maintenance 6,222 6,331 4,586 4,488
Taxes, Insurance Premiums and Other Fees 507,895 3,161,216 4,585 4,111
Labor and Wages - - - -
Members' Benefits - - - -
Other Maintenance and Operating Expenses 8,964,741 9,574,284 12,160 22,420
Financial Expenses 20,338,763 21,071,867 32 72
Non-Cash Expenses 8,165,828 30,421,955 4,455,412 4,061,947

Depreciation 3,078,882 4,973,087 4,322,151 3,981,544
Amortization - - 1,615 1,320
Impairment Loss 2,164,239 983,851 113,355 78,053
Losses 2,922,706 24,465,017 18,291 1,030
Discount and Rebates - - - -
Profit/(Loss) Before Tax (3,138,048) (16,252,620) 5,223,746 5,661,903
592
(in thousand pesos)
PSALM TRANSCO
2017 2016 2017 2016
(Restated)
Income Tax Expense 730,323 - - -

Profit/(Loss) After Tax (3,868,371) (16,252,620) 5,223,746 5,661,903
Net Assistance/Subsidy (401,076) 1,396,806 - -

Assistance and Subsidy - 1,827,776 - -
Financial Assistance/Subsidy/Contribution 401,076 430,970 - -
Net Income/(Loss) (4,269,446) (14,855,813) 5,223,746 5,661,903

Comprehensive Income/(Loss) (4,269,446) (14,855,813) 5,223,746 5,661,903
593
(in thousand pesos)

2017 2016 2017 2016 2017 2016
Income 56,862,411 46,892,196 53,057,002 43,378,496 1,239,317 946,766
Tax Revenue 2,852,449 2,414,944 - - - -
Service and Business Income 41,689,405 39,532,127 40,749,032 38,452,296 1,237,428 945,770
Service Income 2,993,577 3,744,059 2,734,320 3,384,541 65,361 39,496
Business Income 38,695,828 35,788,068 38,014,712 35,067,755 1,172,067 906,274
Shares, Grants and Donations 35,965 39,520 35,965 39,520 - -

Shares 35,965 25,048 35,965 25,048 - -
Grants and Donations - 14,472 - 14,472 - -
Gains 6,364,132 2,969,220 6,364,026 2,968,555 1,532 941
Other Non-Operating Income 5,920,459 1,936,385 5,907,979 1,918,125 356 55

Sale of Assets 653 12,827 642 12,827 356 55
Reversal of Impairment Loss 655 34,852 655 34,852 - -
Miscellaneous Income 5,919,151 1,888,706 5,906,681 1,870,446 - -
Expenses 33,043,849 40,549,551 31,459,002 38,968,855 1,025,776 862,783

Training and Scholarship Expenses 134,968 126,202 77,394 57,281 2,008 905
Awards/Rewards, Prizes and Indemnities 11,963 3,280 11,963 3,265 44 40
Drilling/Dredging Expenses 6,825 - - - - -
Professional Services 1,326,981 1,133,562 1,181,632 984,228 9,398 7,985
Members' Benefits 220 76 220 76 - -
Other Maintenance and Operating Expenses 5,155,985 15,232,631 4,985,687 15,086,991 15,082 10,802
Financial Expenses 1,875,872 1,642,715 1,849,820 1,618,298 4,980 380
Direct Costs 51,254 54,941 33,497 38,904 - -

Depreciation 6,498,016 6,614,911 6,255,483 6,371,566 57,174 70,105
Amortization 1,083 1,234 1,083 1,234 826 826
Impairment Loss 3,472,200 944,705 3,463,430 913,333 11,597 218
Losses 1,224,862 1,907,539 1,201,649 1,877,289 - -
Discount and Rebates 100 81 - - - -

594
(in thousand pesos)

2017 2016 2017 2016 2017 2016
Net Assistance/Subsidy (2,568,007) 17,961,938 (2,327,984) 18,063,077 - -

Financial Assistance/Subsidy/Contribution 7,827,034 4,309,296 7,477,466 4,081,821 - -
Net Income/(Loss) 17,328,504 21,039,129 15,349,210 19,211,750 151,465 60,138

595
(in thousand pesos)

2017 2016 2017 2016 2017 2016
(Restated)
Income 9,555,791 3,616,848 3,869 6,174 2,096,334 1,821,383
Tax Revenue - - - - - -
Service Income - - 3,865 4,397 202,573 187,273
Business Income 3,647,883 3,005,726 - 1,336 1,825,184 1,496,098

Shares - - - - - -
Gains 287,698 - - - 10,483 57,753
Other Non-Operating Income 5,620,209 611,122 4 441 58,094 80,260

Miscellaneous Income 5,620,209 611,122 4 441 58,094 80,260
Expenses 4,212,105 3,280,136 1,351 54,034 995,583 985,427
Personnel Services 251,881 280,474 - 51,276 481,471 488,055

Salaries and Wages 107,469 103,074 - 6,891 237,684 232,749
Other Compensation 87,624 88,035 - 558 149,235 164,995
Personnel Benefit Contributions 48,039 45,055 - - 72,085 63,026
Other Personnel Benefits 8,750 44,309 - 43,826 22,468 27,285
Traveling Expenses 9,020 4,832 - 77 908 815
Training and Scholarship Expenses 1,986 5,867 - 165 3,854 3,945
Supplies and Materials Expenses 8,308 5,217 22 293 14,631 12,679
Utility Expenses 11,144 8,644 - 281 40,178 43,074
Communication Expenses 8,527 4,860 - 98 7,228 5,409
Awards/Rewards, Prizes and Indemnities 10,731 - - - 1,188 3,000
Development Expenses 40,599 64,459 - - - -
Extraordinary Expenses - - - 22 753 1,691
Professional Services 44,798 44,616 296 - 20,434 14,595
General Services 125,349 70,854 - 855 124,421 117,976
Repairs and Maintenance 8,865 20,465 - 67 45,385 38,763
Taxes, Insurance Premiums and Other Fees 17,055 15,661 733 200 6,547 7,171
Other Maintenance and Operating Expenses 202,499 299,683 - - 61,844 48,813
Financial Expenses 415,102 422,076 - - 27 56
Non-Cash Expenses 3,056,242 2,032,428 300 700 186,715 199,387

Depreciation 457,340 360,232 300 348 171,679 167,835
Impairment Loss 1,761,831 - - 352 3,019 314
Losses 837,071 1,672,196 - - 12,017 31,238
Profit/(Loss) Before Tax 5,343,686 336,711 2,518 (47,860) 1,100,751 835,956

Income Tax Expense 217,282 (387,975) 1 43 66,032 50,681
Profit/(Loss) After Tax 5,126,404 724,687 2,517 (47,903) 1,034,719 785,275
596
(in thousand pesos)

2017 2016 2017 2016 2017 2016
(Restated)
Net Assistance/Subsidy (4,083,228) (1,296,461) - - (2,115) (2,115)

Assistance and Subsidy 1,488,146 1,300,384 - - - -
Financial Assistance/Subsidy/Contribution 5,571,374 2,596,845 - - 2,115 2,115
Net Income/(Loss) 1,043,176 (571,774) 2,517 (47,903) 1,032,603 783,160

(Loss) for the Period - 81,587 - - - -
Comprehensive Income/(Loss) 1,043,176 (490,188) 2,517 (47,903) 1,032,603 783,160
597
(in thousand pesos)

2017 2016 2017 2016 2017 2016
Income 817,110 675,796 84,726 76,801 68,278 200,563
Service Income 40,811 32,205 7,760 5,989 - -
Business Income 747,694 629,531 76,943 70,461 45,336 52,146

Shares - - - - - -
Gains 3,438 4,514 15 351 22,933 148,334
Other Non-Operating Income 25,167 9,546 8 - 10 82

Miscellaneous Income 25,167 9,546 8 - 10 82
Expenses 626,404 591,292 63,852 60,067 461,852 395,591

Personnel Benefit Contributions 14,617 14,228 947 882 928 942
Other Personnel Benefits 30,621 27,614 959 1,322 - -
Traveling Expenses 698 826 2,480 2,304 14 64
Utility Expenses 63,329 49,566 115 156 658 615
Communication Expenses 2,226 2,430 871 879 439 504
Awards/Rewards, Prizes and Indemnities - 200 - - - -
Extraordinary Expenses - - - 99 - -
General Services - - 2,381 2,184 3,505 3,976
Repairs and Maintenance 40,622 25,732 1,091 913 648 983
Members' Benefits - - - - 220 76
Financial Expenses 21,705 27,475 - - 397,556 311,880

Depreciation 167,548 159,188 2,742 3,293 982 2,306
Amortization - - 227 384 - -
Impairment Loss 489 14,102 - 1,640 13,895 11,903
Losses 2,995 3,120 46 25 - -
Profit/(Loss) Before Tax 190,706 84,504 20,873 16,734 (393,574) (195,028)

Profit/(Loss) After Tax 177,175 77,404 15,253 11,189 (393,574) (195,028)
598
(in thousand pesos)

2017 2016 2017 2016 2017 2016
Net Assistance/Subsidy - - - - 1,814 18,678

Assistance and Subsidy - - - - 1,814 18,678
Net Income/(Loss) 177,175 77,404 15,253 11,189 (391,760) (176,350)

Comprehensive Income/(Loss) 177,175 77,404 15,253 11,189 (391,760) (176,350)
599
(in thousand pesos)

2017 2016 2017 2016 2017 2016
(Restated)
Income 64,640 62,586 9,035,216 7,980,023 234,219 1,008,320
Service Income - - 175,766 130,607 217,546 960,374
Business Income 63,723 61,933 8,826,962 7,715,037 15,517 26,896
Shares, Grants and Donations - - - 14,472 - -

Shares - - - - - -
Grants and Donations - - - 14,472 - -
Gains - - 32,489 119,907 1,150 21,050
Other Non-Operating Income 918 653 - - 6 -

Miscellaneous Income 918 653 - - 6 -
Expenses 48,562 48,535 7,814,840 6,845,866 299,144 283,738

Salaries and Wages 12,845 12,151 1,010,251 906,938 26,262 22,835
Personnel Benefit Contributions 862 817 135,126 124,334 3,394 3,129
Maintenance and Other Operating Expenses 25,121 25,395 1,911,014 1,746,978 82,705 88,652
Training and Scholarship Expenses 1,521 1,389 47,279 33,167 780 1,106
Utility Expenses 890 1,245 383,466 318,748 1,781 1,977
Extraordinary Expenses 469 409 11,021 124 537 533
Repairs and Maintenance 294 874 230,798 183,891 1,106 3,215
Taxes, Insurance Premiums and Other Fees 1,490 1,877 67,917 55,584 1,198 978
Financial Expenses - - 1,171 1,114 - -

Depreciation 1,589 2,600 2,695,520 3,373,267 168,636 158,819
Amortization 29 24 - - - -
Impairment Loss - - 1,314,878 157,498 - -
Losses - - - 278 - -
Profit/(Loss) Before Tax 16,078 14,051 1,220,376 1,134,157 (64,925) 724,582

Income Tax Expense 4,544 3,975 - - - 206,222
Profit/(Loss) After Tax 11,535 10,077 1,220,376 1,134,157 (64,925) 518,361
600
(in thousand pesos)

2017 2016 2017 2016 2017 2016
(Restated)
Net Income/(Loss) 11,535 10,077 1,220,376 1,134,157 (64,925) 518,361

Comprehensive Income/(Loss) 11,535 10,077 1,220,376 1,134,157 (64,925) 518,361
601
(in thousand pesos)

2017 2016 2017 2016 2017 2016
(Restated)
Income 407 409 1,254,573 1,214,421 13,626,113 12,685,316
Service and Business Income 407 409 1,254,561 1,211,496 13,566,929 12,444,414
Service Income - - 22,538 76,301 241,045 236,940
Business Income 407 409 1,232,023 1,135,196 13,325,884 12,207,475

Shares - - - - - -
Gains - - - 2,925 - 178,477
Other Non-Operating Income - - 12 - 59,184 62,425

Sale of Assets - - 12 - - -
Miscellaneous Income - - - - 59,184 62,425
Expenses 212 241 632,266 613,446 9,921,520 19,109,714
Personnel Services - - 203,501 203,921 840,668 782,351

Salaries and Wages - - 101,769 90,743 356,275 318,903
Maintenance and Other Operating Expenses - 1 227,494 228,787 7,082,844 16,906,905

Training and Scholarship Expenses - - 4,899 1,457 1,490 943
Supplies and Materials Expenses - - 8,435 6,367 91,255 95,377
Utility Expenses - - 30,729 67,736 896,311 866,871
Communication Expenses - - 2,114 2,101 11,787 11,826
Extraordinary Expenses - - 1,233 137 31,193 33,101
Repairs and Maintenance - - 22,125 31,098 724,977 652,251
Taxes, Insurance Premiums and Other Fees - - 86,704 57,034 66,134 208,273
Other Maintenance and Operating Expenses - 1 27,072 23,012 3,987,000 14,030,383
Financial Expenses 212 241 3 2,924 418,845 257,815
Non-Cash Expenses - - 201,267 177,813 1,579,163 1,162,643

Depreciation - - 201,134 176,920 1,390,879 1,074,377
Impairment Loss - - - - 43,015 86,035
Losses - - 134 894 145,270 2,231
Profit/(Loss) Before Tax 194 167 622,307 600,976 3,704,593 (6,424,398)

Income Tax Expense - - 180,954 146,060 1,710,561 1,667,353
Profit/(Loss) After Tax 194 167 441,353 454,915 1,994,032 (8,091,750)
602
(in thousand pesos)

2017 2016 2017 2016 2017 2016
(Restated)
Net Assistance/Subsidy - - - - 1,705,795 19,292,976

Assistance and Subsidy - - - - 3,609,522 20,775,837
Financial Assistance/Subsidy/Contribution - - - - 1,903,727 1,482,861
Net Income/(Loss) 194 167 441,353 454,915 3,699,827 11,201,226

Comprehensive Income/(Loss) 194 167 441,353 454,915 3,699,827 11,201,226
603
(in thousand pesos)

2017 2016 2017 2016 2017 2016
(Restated)
Income 7,852 21,680 3,525,946 3,698,086 16,865 17,046
Service and Business Income 7,852 21,680 463,383 1,293,978 16,865 17,046
Service Income 546 2,472 - - - -
Business Income 7,306 19,207 463,383 1,293,978 16,865 17,046
Shares, Grants and Donations - - 35,965 25,048 - -

Shares - - 35,965 25,048 - -
Gains - - 2,988,960 2,340,322 - -
Other Non-Operating Income - - 37,638 38,739 - -

Miscellaneous Income - - 37,638 38,739 - -
Expenses 7,533 19,974 200,579 465,691 4,939 4,745

Salaries and Wages 1,719 4,480 16,597 12,113 771 793
Other Compensation 473 1,469 5,009 6,240 206 216
Personnel Benefit Contributions 106 255 2,176 1,624 42 -
Other Personnel Benefits - - 1,130 811 47 100
Traveling Expenses 61 210 828 795 168 82
Training and Scholarship Expenses - - 1,069 1,079 8 -
Supplies and Materials Expenses 526 1,331 1,299 1,322 42 26
Utility Expenses 344 829 2,903 2,356 13 14
Development Expenses - - - - 95 60
Extraordinary Expenses - - 3,122 3,034 - -
Professional Services 56 179 10,196 8,573 220 305
General Services - 68 21,684 21,282 2,390 1,896
Repairs and Maintenance 262 359 2,062 4,149 1 -
Taxes, Insurance Premiums and Other Fees 141 381 21,746 22,945 567 911
Other Maintenance and Operating Expenses 254 459 2,285 2,716 319 294
Direct Costs 3,125 8,867 - - - -
Non-Cash Expenses 445 1,032 27,024 299,649 - -

Depreciation 332 919 4,478 4,149 - -
Impairment Loss 113 113 22,546 295,500 - -
Losses - - - - - -
Profit/(Loss) Before Tax 318 1,706 3,325,367 3,232,394 11,926 12,301

Income Tax Expense - - 966,292 702,530 3,509 3,578
Profit/(Loss) After Tax 318 1,706 2,359,075 2,529,865 8,417 8,723
604
(in thousand pesos)

2017 2016 2017 2016 2017 2016
(Restated)
Net Income/(Loss) 318 1,706 2,359,075 2,529,865 8,417 8,723

Comprehensive Income/(Loss) 318 1,706 2,359,075 2,529,865 8,417 8,723
605
(in thousand pesos)
FCIEI GYREI IIGSI

2017 2016 2017 2016 2017 2016
Income 2,984 2,887 6,403 6,351 0 0
Service and Business Income 2,984 2,887 6,403 6,351 0 0

Business Income 2,984 2,887 6,403 6,351 0 0

Shares - - - - - -
Gains - - - - - -
Other Non-Operating Income - - - - - -

Miscellaneous Income - - - - - -
Expenses 3,247 3,756 12,897 12,823 381 337
Personnel Services 242 411 68 67 - -

Salaries and Wages 221 371 55 58 - -
Other Compensation 21 40 13 9 - -
Personnel Benefit Contributions - - - - - -
Other Personnel Benefits - - - - - -
Maintenance and Other Operating Expenses 3,005 2,951 12,810 12,738 381 337
Traveling Expenses 2 19 4 3 - -
Training and Scholarship Expenses - - - - - -
Supplies and Materials Expenses 10 15 6 3 - -
Utility Expenses 9 11 36 36 - -
Communication Expenses 4 5 0 - - -
Extraordinary Expenses 3 3 - - - -
Professional Services 27 3 106 74 59 -
General Services - - 2,437 2,412 310 285
Repairs and Maintenance - - - - - -
Other Maintenance and Operating Expenses 108 53 64 65 - -
Financial Expenses - - 19 18 0 0
Non-Cash Expenses - 394 - - - -

Depreciation - - - - - -
Impairment Loss - 394 - - - -
Losses - - - - - -
Profit/(Loss) Before Tax (263) (869) (6,494) (6,471) (380) (337)

Income Tax Expense 59 57 112 113 0 0
Profit/(Loss) After Tax (322) (926) (6,607) (6,584) (380) (337)
606
(in thousand pesos)
FCIEI GYREI IIGSI

2017 2016 2017 2016 2017 2016
Net Income/(Loss) (322) (926) (6,607) (6,584) (380) (337)

Comprehensive Income/(Loss) (322) (926) (6,607) (6,584) (380) (337)
607
(in thousand pesos)
KRC MGC NPIC

2017 2016 2017 2016 2017 2016
Income 38,811 11,236 1,151 1,173 717 705
Business Income 11,671 11,236 1,151 1,173 717 705

Shares - - - - - -
Gains 27,140 - - - - -
Other Non-Operating Income - - - - - -

Miscellaneous Income - - - - - -
Expenses 1,868 2,351 97,537 6,740 448 429
Personnel Services 68 67 - 9 231 234

Salaries and Wages 55 58 - 9 210 212
Other Compensation 13 9 - - 21 21
Personnel Benefit Contributions - - - - - -
Other Personnel Benefits - - - - - -
Maintenance and Other Operating Expenses 1,776 2,260 2,333 6,239 217 195
Traveling Expenses 57 62 - - 0 -
Training and Scholarship Expenses - - - - - -
Supplies and Materials Expenses 15 9 4 6 2 11
Utility Expenses 12 11 51 57 10 11
Communication Expenses - - 30 27 - -
Extraordinary Expenses - - 17 13 - -
Professional Services 125 168 1,018 904 27 1
General Services 768 1,113 874 1,982 - -
Repairs and Maintenance - - - - - -
Taxes, Insurance Premiums and Other Fees 676 721 231 3,084 143 141
Other Maintenance and Operating Expenses 123 176 108 165 33 31
Financial Expenses 24 24 0 1 - -
Non-Cash Expenses - - 95,204 491 - -

Depreciation - - - - - -
Impairment Loss - - 380 491 - -
Losses - - 94,823 - - -
Profit/(Loss) Before Tax 36,943 8,885 (96,386) (5,567) 270 276

Profit/(Loss) After Tax 26,421 7,261 (96,386) (5,567) 270 276
608
(in thousand pesos)
KRC MGC NPIC

2017 2016 2017 2016 2017 2016
Net Income/(Loss) 26,421 7,261 (96,386) (5,567) 270 276

Comprehensive Income/(Loss) 26,421 7,261 (96,386) (5,567) 270 276
609
(in thousand pesos)

2017 2016 2017 2016 2017 2016
(Restated)
Income 1,831 1,833 3,404,853 3,550,602 717,129 717,944
Service Income - - 1,253,816 1,239,043 98,857 57,129
Business Income 1,831 1,833 2,130,288 2,280,513 601,681 655,825

Shares - - - - - -
Gains - - - 4,521 6,830 9,732
Other Non-Operating Income - - 20,749 26,525 9,761 (4,743)

Miscellaneous Income - - 20,749 26,525 9,761 (4,743)
Expenses 304 254 1,522,848 1,811,781 332,814 348,725
Personnel Services 68 67 408,954 535,837 49,873 47,285

Salaries and Wages 55 58 215,820 259,629 28,172 27,134
Other Compensation 13 9 134,490 144,770 12,382 8,541
Maintenance and Other Operating Expenses 217 169 978,023 1,162,875 62,213 80,230
Training and Scholarship Expenses - - 3,555 1,155 406 475
Communication Expenses - - 9,585 10,170 1,390 1,001
Development Expenses - - 0 - - -
Professional Services 101 61 17,836 15,024 552 578
Taxes, Insurance Premiums and Other Fees 28 29 4,639 10,570 895 984
Financial Expenses 18 18 1,495 4,705 85,122 87,397
Non-Cash Expenses - - 134,377 108,363 135,607 133,813

Depreciation - - 85,762 76,243 117,841 115,966
Impairment Loss - - 44,926 30,261 17,766 17,847
Losses - - 3,689 1,860 - -
Profit/(Loss) Before Tax 1,527 1,579 1,882,004 1,738,821 384,315 369,219

Income Tax Expense 501 488 585,711 526,773 118,923 110,894
Profit/(Loss) After Tax 1,026 1,092 1,296,293 1,212,049 265,392 258,325
610
(in thousand pesos)

2017 2016 2017 2016 2017 2016
(Restated)
Net Assistance/Subsidy - - (250) - - -

Financial Assistance/Subsidy/Contribution - - 250 - - -
Net Income/(Loss) 1,026 1,092 1,296,043 1,212,049 265,392 258,325

Comprehensive Income/(Loss) 1,026 1,092 1,296,043 1,212,049 265,392 258,325
611
(in thousand pesos)
PNCC ASDI CDCP-FC

2017 2016 2017 2016 2017 2016
(Restated)
Income 3,241,025 1,337,252 3,347 5,534 12 57

Service Income 39,187 41,627 - - - -
Business Income 289,739 267,239 3,347 5,534 1 1

Shares - - - - - -
Gains 2,848,475 1,071 - - - -
Other Non-Operating Income 63,623 1,027,315 - - 11 56

Reversal of Impairment Loss 644 34,795 - - 11 56
Miscellaneous Income 62,979 992,519 - - - -
Expenses 361,682 359,004 1,176 1,255 545 22
Personnel Services 41,785 36,852 947 974 - -

Salaries and Wages 29,412 27,029 448 459 - -
Other Compensation 4,791 4,672 463 468 - -
Personnel Benefit Contributions 1,922 2,179 36 36 - -
Other Personnel Benefits 5,661 2,972 - 11 - -
Maintenance and Other Operating Expenses 25,376 26,915 226 277 22 22

Traveling Expenses 3,124 1,639 - - - -
Training and Scholarship Expenses 537 313 - - - -
Supplies and Materials Expenses 511 458 5 7 - -
Utility Expenses 1,871 1,900 0 1 - -
Communication Expenses 1,092 1,039 15 22 - -
Professional Services 3,479 3,065 103 109 - -
General Services 4,001 3,428 - - - -
Repairs and Maintenance 857 521 - - - -
Taxes, Insurance Premiums and Other Fees 4,342 9,253 1 1 22 22
Other Maintenance and Operating Expenses 5,561 5,299 23 53 - -
Financial Expenses 258,010 258,009 2 1 - -
Direct Costs 30,372 30,037 - - - -
Non-Cash Expenses 6,140 7,192 - 3 523 -

Depreciation 6,140 7,136 - 3 - -
Impairment Loss - - - - 523 -
Losses - 56 - - - -
Profit/(Loss) Before Tax 2,879,343 978,248 2,171 4,279 (533) 35

Income Tax Expense - 69,855 669 1,107 - -
Profit/(Loss) After Tax 2,879,343 908,393 1,502 3,172 (533) 35
612
(in thousand pesos)
PNCC ASDI CDCP-FC

2017 2016 2017 2016 2017 2016
(Restated)
Net Income/(Loss) 2,879,343 908,393 1,502 3,172 (533) 35

(Loss) for the Period (76,559) - - - - -
Comprehensive Income/(Loss) 2,802,784 908,393 1,502 3,172 (533) 35
613
(in thousand pesos)
DCBGSI PRecA PEATC

2017 2016 2017 2016 2017 2016
(Restated)
Income 292 49,292 740,255 580,660 6 34
Service and Business Income 18 36,492 602,664 499,689 6 34

Service Income - - 5,115 79,122 - -
Business Income 18 36,492 597,549 420,566 6 34

Shares - - - - - -
Gains - - 132,884 78,651 - -
Other Non-Operating Income 274 12,800 4,707 2,320 - -

Sale of Assets 274 12,773 - - - -
Miscellaneous Income - 27 4,707 2,320 - -
Expenses 490 4,361 498,429 420,077 - -
Personnel Services 439 857 106,080 112,829 - -

Salaries and Wages 414 766 69,331 60,639 - -
Other Compensation 25 91 24,263 39,608 - -
Personnel Benefit Contributions - - 7,914 8,708 - -
Other Personnel Benefits - - 4,572 3,875 - -
Maintenance and Other Operating Expenses 34 3,504 97,448 139,957 - -

Traveling Expenses 7 35 7,999 7,679 - -
Training and Scholarship Expenses - 2 3,562 1,692 - -
Supplies and Materials Expenses 8 9 3,116 2,606 - -
Utility Expenses - - 5,198 6,723 - -
Communication Expenses 6 7 3,096 3,863 - -
Professional Services 5 12 15,023 24,111 - -
General Services - - 31,615 19,528 - -
Repairs and Maintenance - 2 4,620 5,403 - -
Taxes, Insurance Premiums and Other Fees 2 3,287 10,489 49,426 - -
Other Maintenance and Operating Expenses 6 150 12,659 18,297 - -
Financial Expenses - - 14,685 17,545 - -
Non-Cash Expenses 18 - 280,216 149,746 - -

Depreciation 18 - 280,216 149,746 - -
Impairment Loss - - - - - -
Losses - - - - - -
Profit/(Loss) Before Tax (199) 44,931 241,826 160,582 6 34

Income Tax Expense - 8,064 (124,858) 24,623 - -
Profit/(Loss) After Tax (199) 36,866 366,684 135,959 6 34
614
(in thousand pesos)
DCBGSI PRecA PEATC

2017 2016 2017 2016 2017 2016
(Restated)
Net Income/(Loss) (199) 36,866 366,684 135,959 6 34

Comprehensive Income/(Loss) (199) 36,866 366,684 135,959 6 34
- -
615
(in thousand pesos)

2017 2016 2017 2016 2017 2016
(Restated)
Income 3,223,794 3,056,281 43,136 24,436 3,805,409 3,513,700
Tax Revenue - - - - 2,852,449 2,414,944
Service and Business Income 3,216,547 3,005,753 43,136 24,431 940,373 1,079,831
Service Income 354,136 288,350 5,398 3,218 259,257 359,518
Business Income 2,862,411 2,717,402 37,737 21,214 681,116 720,313

Shares - - - - - -
Gains - - 0 5 106 665
Other Non-Operating Income 7,248 50,529 - - 12,481 18,260

Sale of Assets - - - - 11 -
Miscellaneous Income 7,248 50,529 - - 12,469 18,260
Expenses 2,217,152 2,288,052 90,666 87,609 1,584,846 1,580,696

Training and Scholarship Expenses - - 170 156 57,574 68,921
Communication Expenses - - 858 905 10,395 11,596
Awards/Rewards, Prizes and Indemnities - - - 25 - 15
Drilling/Dredging Expenses - - - - 6,825 -
Extraordinary Expenses - - 247 1,223 817 1,012
Taxes, Insurance Premiums and Other Fees - - 244 364 86,353 89,327
Financial Expenses 150,573 150,896 - - 26,052 24,417
Direct Costs - - - - 17,758 16,037

Depreciation 432,420 452,939 12,754 15,176 242,534 243,345
Impairment Loss 228,451 296,666 - - 8,770 31,373
Losses 105,605 165,392 - - 23,213 30,250
Discount and Rebates - - - - 100 81
Profit/(Loss) Before Tax 1,006,642 768,229 (47,530) (63,173) 2,220,562 1,933,004

Income Tax Expense 98,765 88,413 - - 1,245 4,487
Profit/(Loss) After Tax 907,877 679,816 (47,530) (63,173) 2,219,317 1,928,517
616
(in thousand pesos)

2017 2016 2017 2016 2017 2016
(Restated)
Net Assistance/Subsidy - - 50,000 49,999 (240,023) (101,139)

Net Income/(Loss) 907,877 679,816 2,470 (13,173) 1,979,294 1,827,379

Comprehensive Income/(Loss) 907,877 679,816 2,470 (13,173) 1,979,294 1,827,379
617
(in thousand pesos)

2017 2016 2017 2016 2017 2016
(Restated)
Income 11,389 2,653 299,428 305,855 105,484 99,080
Service Income 5,693 2,260 251,569 257,487 - -
Business Income 5,696 392 46,949 47,743 105,449 99,052

Shares - - - - - -
Gains - - - - - -
Other Non-Operating Income - - 910 624 35 28

Miscellaneous Income - - 910 624 35 28
Expenses 51,005 54,285 214,892 216,662 103,147 89,741

Other Personnel Benefits 97 409 4,581 3,902 595 533
Traveling Expenses 1,262 1,689 672 632 1,560 1,602
Training and Scholarship Expenses 378 714 353 8,527 428 402
Communication Expenses 663 644 866 1,426 477 458
Drilling/Dredging Expenses - - 6,825 - - -
Extraordinary Expenses 246 290 174 211 116 109
Other Maintenance and Operating Expenses 6,637 7,394 13,954 12,494 969 907
Financial Expenses - - 17 27 16,203 13,468

Depreciation 4,152 4,027 12,451 13,372 22,754 22,578
Impairment Loss 155 - 119 63 - 672
Losses - - - 1,556 8,242 3,379
Discount and Rebates - - - - 100 81
Profit/(Loss) Before Tax (39,616) (51,632) 84,537 89,193 2,336 9,339

Income Tax Expense - - - - - -
Profit/(Loss) After Tax (39,616) (51,632) 84,537 89,193 2,336 9,339
618
(in thousand pesos)

2017 2016 2017 2016 2017 2016
(Restated)
Net Assistance/Subsidy 40,000 60,000 - - - -

Assistance and Subsidy 40,000 60,000 - - - -
Net Income/(Loss) 384 8,368 84,537 89,193 2,336 9,339

Comprehensive Income/(Loss) 384 8,368 84,537 89,193 2,336 9,339
619
(in thousand pesos)

2017 2016 2017 2016 2017 2016
Income 7,349 4,234 3,889 4,601 3,358,535 3,077,002
Tax Revenue - - - - 2,852,449 2,414,944
Service and Business Income 3 4 3,887 4,001 501,792 648,618

Service Income - - - - 1,995 99,770
Business Income 3 4 3,887 4,001 499,797 548,847

Shares - - - - - -
Gains - - 2 600 104 62
Other Non-Operating Income 7,346 4,230 - - 4,189 13,378

Sale of Assets - - - - 11 -
Miscellaneous Income 7,346 4,230 - - 4,178 13,378
Expenses 5,621 5,655 46,728 49,409 1,134,260 1,137,892

Personnel Benefit Contributions 37 40 2,113 2,300 52,408 46,086
Other Personnel Benefits 5 8 897 409 27,028 16,917
Training and Scholarship Expenses 170 49 212 192 56,013 59,032
Utility Expenses 5 8 726 1,192 26,100 28,451
Communication Expenses 169 193 783 973 7,380 7,836
Awards/Rewards, Prizes and Indemnities - - - - - 15
Professional Services 2 10 376 25 135,843 133,669
Taxes, Insurance Premiums and Other Fees 11 11 103 509 41,407 50,570
Financial Expenses - - 353 7 9,479 10,914
Direct Costs - - - - 17,758 16,037
Non-Cash Expenses 18 12 4,323 4,382 211,239 244,831

Depreciation 18 12 4,323 4,382 189,420 189,419
Impairment Loss - - - - 8,496 30,637
Losses - - - - 13,323 24,775
Profit/(Loss) Before Tax 1,729 (1,421) (42,838) (44,807) 2,224,275 1,939,110

Income Tax Expense - - - - 1,245 4,487
Profit/(Loss) After Tax 1,729 (1,421) (42,838) (44,807) 2,223,030 1,934,623
620
(in thousand pesos)

2017 2016 2017 2016 2017 2016
Net Assistance/Subsidy - - 41,058 42,030 (321,081) (203,169)

Net Income/(Loss) 1,729 (1,421) (1,780) (2,777) 1,901,948 1,731,454

Comprehensive Income/(Loss) 1,729 (1,421) (1,780) (2,777) 1,901,948 1,731,454
621
(in thousand pesos)
CFI
2017 2016
(Restated)
Income 19,334 20,275
Tax Revenue - -
Service and Business Income 19,334 20,273

Service Income - -
Business Income 19,334 20,273
Shares, Grants and Donations - -

Shares - -
Grants and Donations - -
Gains 0 2
Other Non-Operating Income - -

Sale of Assets - -
Reversal of Impairment Loss - -
Miscellaneous Income - -
Expenses 29,194 27,052
Personnel Services 3,508 3,858

Salaries and Wages 2,571 2,461
Other Compensation 437 449
Personnel Benefit Contributions 173 171
Other Personnel Benefits 326 777
Maintenance and Other Operating Expenses 14,624 13,098

Traveling Expenses 322 244
Training and Scholarship Expenses 21 6
Supplies and Materials Expenses 3,030 2,987
Utility Expenses 58 71
Communication Expenses 57 65
Awards/Rewards, Prizes and Indemnities - -
Development Expenses - -
Drilling/Dredging Expenses - -
Extraordinary Expenses - -
Professional Services 195 107
General Services 7,378 7,019
Repairs and Maintenance 2,078 1,701
Taxes, Insurance Premiums and Other Fees 988 622
Members' Benefits - -
Other Maintenance and Operating Expenses 497 277
Financial Expenses - -
Direct Costs - -
Non-Cash Expenses 11,062 10,095

Depreciation 9,414 9,556
Amortization - -
Impairment Loss - -
Losses 1,647 540
Discount and Rebates - -
Profit/(Loss) Before Tax (9,859) (6,777)

Income Tax Expense - -
Profit/(Loss) After Tax (9,859) (6,777)
622
(in thousand pesos)
CFI
2017 2016
(Restated)
Net Assistance/Subsidy - -
Assistance and Subsidy - -
Financial Assistance/Subsidy/Contribution - -
Net Income/(Loss) (9,859) (6,777)

(Loss) for the Period - -
Comprehensive Income/(Loss) (9,859) (6,777)
623
(in thousand pesos)
TOTAL GBE FTI

2017 2016 2017 2016 2017 2016
Income 24,621,935 36,262,119 4,312,596 1,412,554 2,896,332 307,701
Service Income 1,573,079 3,222,282 32,695 30,428 14,814 16,284
Business Income 19,490,797 30,849,031 1,695,168 1,351,587 303,284 273,010
Gains 2,687,204 1,453,098 2,578,357 2,259 2,578,115 123
Other Non-Operating Income 852,404 692,783 6,376 28,280 119 18,284

Sale of Assets 1,839 9 241 9 - -
Miscellaneous Income 850,565 692,774 6,135 28,271 119 18,284
Expenses 42,615,552 54,313,374 3,522,321 2,573,683 76,547 89,084

Other Compensation 1,593,067 1,528,288 140,375 161,444 5,414 8,906
Personnel Benefit Contributions 447,766 420,533 43,898 40,925 608 548
Supplies and Materials Expenses 1,486,077 1,420,503 27,112 20,118 496 551
Awards/Rewards, Prizes and Indemnities 8,911 2,725 - - - -
Development Expenses 1,165 1,999 20 - 20 -
Other Maintenance and Operating Expenses 1,813,850 1,861,521 76,220 73,598 149 139
Financial Expenses 6,510,574 7,306,969 21,615 21,155 130 20
Direct Costs 21,659,836 33,588,683 2,253,044 1,455,348 - -

Depreciation 1,772,173 1,244,579 72,793 64,935 5,860 21,150
Amortization 637 - 637 - - -
Impairment Loss 640,701 558,378 10,539 4,193 - -
Losses 88,214 219,302 1,829 523 - -
Discount and Rebates 953 91,166 - - - -
Profit/(Loss) Before Tax (17,993,618) (18,051,255) 790,274 (1,161,129) 2,819,785 218,617

Profit/(Loss) After Tax (18,952,847) (18,207,904) (129,499) (1,231,888) 1,927,584 174,018

Financial Assistance/Subsidy/Contribution 11,931 62,230 8,516 3,602 - -
Net Income/(Loss) 25,437,198 19,366,550 2,456,097 528,157 1,927,584 174,018

Comprehensive Income/(Loss) 25,418,205 19,372,996 2,437,103 534,603 1,927,584 174,018
624
(in thousand pesos)
HSDC NRDC PMDC

2017 2016 2017 2016 2017 2016
Income 51,052 48,348 20,685 13,413 51,214 53,150
Service Income - - 3,365 2,245 - -
Business Income 51,052 48,348 17,261 11,157 51,213 51,688
Gains - - - - 1 1,453
Other Non-Operating Income - - 60 11 - 9

Sale of Assets - - - - - 9
Miscellaneous Income - - 60 11 - -
Expenses 27,377 32,130 55,078 25,323 59,298 49,616

Personnel Benefit Contributions - - 740 664 812 860
Other Personnel Benefits - - 1,495 816 933 1,726
Traveling Expenses 284 537 514 365 2,415 829
Training and Scholarship Expenses 12 128 435 128 682 358
Supplies and Materials Expenses 701 637 645 475 2,252 734
Utility Expenses (409) (81) 934 786 1,001 993
Communication Expenses 323 327 409 265 731 621
General Services 6,634 5,831 175 - 288 372
Repairs and Maintenance 401 1,008 685 327 481 252
Other Maintenance and Operating Expenses 1,967 1,772 2,288 349 5,052 4,688

Depreciation 3,717 4,084 645 800 2,737 3,000
Amortization - - 24 - - -
Impairment Loss 492 373 10,000 3,594 31 226
Losses - - 570 - 702 41
Profit/(Loss) Before Tax 23,676 16,218 (34,393) (11,911) (8,084) 3,534

Income Tax Expense - - - - - 1,039
Profit/(Loss) After Tax 23,676 16,218 (34,393) (11,911) (8,084) 2,495
Net Income/(Loss) 23,676 16,218 (34,393) (11,911) (8,084) 2,495

Comprehensive Income/(Loss) 23,676 16,218 (34,393) (11,911) (8,084) 2,495
625
(in thousand pesos)
PCIC PFDA PHILSUCOR

2017 2016 2017 2016 2017 2016
Income 507,535 237,217 742,863 728,644 42,914 24,080
Service Income 189 287 14,327 11,613 - -
Business Income 504,474 229,555 727,960 716,084 39,924 21,745
Gains - 58 241 624 - -
Other Non-Operating Income 2,871 7,318 336 324 2,990 2,335

Sale of Assets - - 241 - - -
Miscellaneous Income 2,871 7,318 95 324 2,990 2,335
Expenses 2,670,537 1,792,100 614,816 570,822 18,670 14,606

Other Personnel Benefits 25,410 9,330 4,391 4,581 2,263 369
Training and Scholarship Expenses 12,751 11,503 1,475 629 251 180
Extraordinary Expenses 1,968 1,984 288 264 171 174
Professional Services 103,827 77,623 40,797 35,227 1,030 932
Taxes, Insurance Premiums and Other Fees 1,295 865 3,043 2,563 756 936
Other Maintenance and Operating Expenses 45,577 47,277 17,978 18,535 3,209 838
Direct Costs 2,253,044 1,455,348 - - - -

Depreciation 10,149 8,680 48,387 25,908 1,297 1,314
Amortization 613 - - - - -
Impairment Loss - - 16 - - -
Losses 249 - 309 482 - -
Profit/(Loss) Before Tax (2,163,002) (1,554,883) 128,047 157,822 24,245 9,474

Income Tax Expense - - 27,894 24,693 (322) 429
Profit/(Loss) After Tax (2,163,002) (1,554,883) 100,153 133,129 24,567 9,045
Net Assistance/Subsidy 2,500,000 1,600,000 85,596 160,045 - -

Assistance and Subsidy 2,500,000 1,600,000 94,111 163,647 - -
Financial Assistance/Subsidy/Contribution - - 8,516 3,602 - -
Net Income/(Loss) 336,998 45,117 185,749 293,174 24,567 9,045

(Loss) for the Period - - - - (18,993) 6,446
626
(in thousand pesos)
Non-GBE NDA NFA

2017 2016 2017 2016 2017 2016
Income 20,309,339 34,849,566 16,983 50,256 18,024,233 30,746,990
Service Income 1,540,384 3,191,854 621 278 308,656 215,361
Business Income 17,795,629 29,497,444 13,850 41,593 17,500,860 29,023,107
Shares, Grants and Donations 18,451 44,926 - - 375 34
Grants and Donations 18,451 44,926 - - 375 34
Gains 108,847 1,450,839 1,375 - 92,127 1,435,218

Sale of Assets 1,598 - - - 592 -
Expenses 39,093,231 51,739,692 242,560 177,950 29,552,728 42,436,476
Personnel Services 5,396,048 4,884,871 95,731 83,263 2,195,736 2,010,961

Salaries and Wages 2,951,686 2,708,279 66,713 55,707 1,294,897 1,151,154
Maintenance and Other Operating Expenses 5,384,553 5,391,898 70,834 80,331 1,738,428 2,022,563
Awards/Rewards, Prizes and Indemnities 8,911 2,725 - - 7,776 1,904
Extraordinary Expenses 5,803 5,344 464 732 3,550 3,572
Other Maintenance and Operating Expenses 1,737,630 1,787,923 13,083 21,125 791,272 978,566
Financial Expenses 6,488,959 7,285,813 9 12 5,962,358 5,906,903
Direct Costs 19,406,791 32,133,335 - - 19,385,764 32,107,973

Depreciation 1,699,381 1,179,644 9,927 11,297 175,568 167,272
Impairment Loss 630,163 554,185 64,601 2,407 13,670 16,309
Losses 86,385 218,779 1,458 640 81,205 204,494
Profit/(Loss) Before Tax (18,783,892) (16,890,126) (225,578) (127,694) (11,528,495) (11,689,486)

Profit/(Loss) After Tax (18,823,348) (16,976,016) (225,578) (127,694) (11,528,495) (11,689,486)
Net Assistance/Subsidy 41,804,450 35,814,409 199,945 190,472 6,882,089 10,646,652

Assistance and Subsidy 41,807,865 35,873,038 199,945 190,472 6,882,089 10,646,652
Financial Assistance/Subsidy/Contribution 3,415 58,628 - - - -
Net Income/(Loss) 22,981,102 18,838,393 (25,633) 62,778 (4,646,406) (1,042,834)

Comprehensive Income/(Loss) 22,981,102 18,838,393 (25,633) 62,778 (4,646,406) (1,042,834)
- -
627
(in thousand pesos)
NIA NTA PCA

2017 2016 2017 2016 2017 2016
Income 1,121,430 2,547,344 152,572 139,340 331,595 472,309
Service and Business Income 458,141 2,045,908 149,284 134,198 275,185 410,631
Service Income 323,372 1,803,733 117,819 97,308 240,464 369,510
Business Income 134,769 242,175 31,465 36,890 34,721 41,121
Shares, Grants and Donations 86 - - - - -
Grants and Donations 86 - - - - -
Gains 10,690 7,349 3,127 2,665 25 0
Other Non-Operating Income 652,513 494,087 161 2,477 56,386 61,678

Sale of Assets - - - - 1,006 -
Miscellaneous Income 652,513 494,087 161 2,477 55,379 61,678
Expenses 5,281,454 4,329,791 164,319 218,445 2,226,285 2,229,734

Salaries and Wages 1,095,888 971,823 28,358 59,830 217,591 216,260
Maintenance and Other Operating Expenses 1,141,316 957,314 28,405 5,706 1,787,231 1,787,543
Traveling Expenses 37,919 32,467 - - 63,595 64,695
Training and Scholarship Expenses 44,214 17,960 - - 36,459 29,023
Supplies and Materials Expenses 98,437 88,381 1,161 - 1,122,007 1,075,141
Utility Expenses 132,478 141,152 40 - 27,301 23,955
Communication Expenses 16,931 16,603 2,581 - 10,653 10,767
Awards/Rewards, Prizes and Indemnities 226 210 - - 384 560
Development Expenses 620 - - - 526 1,999
Extraordinary Expenses 561 264 300 - 682 551
Professional Services 41,239 45,474 844 5,651 234,027 206,890
General Services 18,670 7,587 18,631 - 178,547 254,079
Repairs and Maintenance 121,034 133,165 1,764 - 21,898 17,017
Financial Expenses 526,073 527,432 13 - 2 0
Direct Costs - - 21,027 25,361 - -

Depreciation 1,364,315 862,581 9,787 21,046 53,971 51,735
Impairment Loss 190,323 89,836 16,445 45,063 7,894 14,343
Losses - 19 1,116 527 - -
Profit/(Loss) Before Tax (4,160,023) (1,782,447) (11,747) (79,105) (1,894,689) (1,757,425)

Profit/(Loss) After Tax (4,160,023) (1,782,447) (11,747) (79,105) (1,894,689) (1,757,425)
Net Assistance/Subsidy 31,689,502 22,665,935 (3,415) (58,628) 1,339,117 1,250,875

Assistance and Subsidy 31,689,502 22,665,935 - - 1,339,117 1,250,875
Financial Assistance/Subsidy/Contribution - - 3,415 58,628 - -
Net Income/(Loss) 27,529,479 20,883,488 (15,162) (137,734) (555,572) (506,550)

Comprehensive Income/(Loss) 27,529,479 20,883,488 (15,162) (137,734) (555,572) (506,550)
628
(in thousand pesos)

2017 2016 2017 2016 2017 2016
(Restated)
Income 47,506 106,570 47,894 89,118 567,125 697,640
Service Income - - 28,918 61,577 520,534 644,087
Business Income 21,123 46,136 15,067 16,344 43,774 50,077
Gains 930 4,851 - - 572 757

Expenses 575,542 515,519 619,244 1,422,508 431,099 409,268

Awards/Rewards, Prizes and Indemnities 5 6 - - 520 45
Repairs and Maintenance 16,515 16,945 502 867 7,632 8,059
Financial Expenses 57 334 35 850,822 412 310

Depreciation 61,853 43,586 1,366 1,818 22,595 20,310
Impairment Loss - - 332,906 386,230 4,324 (2)
Losses 30 - 751 13,098 1,824 -
Profit/(Loss) Before Tax (528,036) (408,950) (571,349) (1,333,391) 136,026 288,372

Income Tax Expense - - - - 39,456 85,891
Profit/(Loss) After Tax (528,036) (408,950) (571,349) (1,333,391) 96,570 202,481
Net Assistance/Subsidy 561,000 518,000 - - 1,136,211 601,104

Assistance and Subsidy 561,000 518,000 - - 1,136,211 601,104
Net Income/(Loss) 32,964 109,050 (571,349) (1,333,391) 1,232,781 803,585

Comprehensive Income/(Loss) 32,964 109,050 (571,349) (1,333,391) 1,232,781 803,585
629
(in thousand pesos)
TOTAL GBE DFPC

2017 2016 2017 2016 2017 2016
Income 153,813,621 140,848,807 145,112,534 133,242,890 11,012,752 10,595,601
Service Income 2,922,133 1,852,579 2,445,864 1,365,251 50 49
Business Income 149,065,584 137,794,382 141,205,171 130,816,487 10,999,339 10,586,286
Shares, Grants and Donations 282,185 42,326 - 1,130 - -
Grants and Donations 282,185 42,326 - 1,130 - -
Gains 352,856 234,173 348,041 208,058 11,090 7,935
Other Non-Operating Income 1,190,863 925,347 1,113,458 851,963 2,273 1,331

Reversal of Impairment Loss 20 - - - - -
Miscellaneous Income 1,190,842 925,347 1,113,458 851,963 2,273 1,331
Expenses 161,073,709 151,634,290 149,984,981 141,605,854 10,833,035 10,459,221

Personnel Benefit Contributions 3,342,351 3,354,083 3,107,757 3,137,914 29,549 30,450
Other Personnel Benefits 2,246,254 2,211,156 2,108,152 1,998,461 26,564 26,508
Utility Expenses 1,162,348 1,110,679 706,097 677,625 96,658 96,631
Awards/Rewards, Prizes and Indemnities 10,466 3,339 7,793 2,193 6 -
General Services 1,107,426 1,075,803 735,631 716,344 123,715 126,997
Taxes, Insurance Premiums and Other Fees 3,085,534 2,960,926 3,028,274 2,893,692 14,153 101,453
Labor and Wages - 1 - - - -
Members' Benefits 110,490,087 102,130,696 110,490,087 102,130,696 - -
Other Maintenance and Operating Expenses 9,150,973 8,405,289 7,908,179 7,319,517 1,004,327 997,097
Financial Expenses 166,311 174,925 114,955 139,699 1,092 741
Direct Costs 9,536,494 9,217,948 9,038,830 8,762,699 8,780,030 8,458,769

Depreciation 1,904,226 2,043,726 1,282,555 1,492,062 20,159 22,880
Amortization 139,438 100,044 139,438 100,044 934 972
Impairment Loss 250,562 114,480 17,465 15,678 3,220 2,840
Losses 356,441 129,871 332,254 129,027 720 8,904
Discount and Rebates 270 317 - - - -
Profit/(Loss) Before Tax (7,260,088) (10,785,483) (4,872,446) (8,362,965) 179,717 136,381

Profit/(Loss) After Tax (7,501,879) (10,938,963) (5,114,099) (8,516,019) 179,717 136,381

Financial Assistance/Subsidy/Contribution 38,432,856 33,766,833 38,410,231 33,749,530 - -
Net Income/(Loss) 7,542,894 10,425,161 5,805,252 7,883,756 179,717 136,381

(Loss) for the Period (35) 2,574 - - - -
630
(in thousand pesos)
IBC 13 PAGCOR PCSO

2017 2016 2017 2016 2017 2016
Income 92,760 95,464 60,153,145 55,155,914 9,719,126 6,755,718
Service and Business Income 92,050 95,218 59,892,849 55,065,782 8,635,797 5,926,831
Service Income - - 1,285,940 993,340 791,943 49,969
Business Income 92,050 95,218 58,606,909 54,072,442 7,843,854 5,876,861
Gains 84 - 250,303 88,245 - -
Other Non-Operating Income 625 247 9,992 1,887 1,083,328 828,887

Miscellaneous Income 625 247 9,992 1,887 1,083,328 828,887
Expenses 199,392 202,461 16,713,171 16,863,349 4,648,547 3,660,791
Personnel Services 129,831 125,887 7,732,225 7,588,987 1,249,000 1,324,142

Salaries and Wages 41,131 44,323 1,426,583 1,457,112 424,941 375,004
Other Compensation 3,247 3,534 2,044,575 1,989,034 547,821 690,181
Personnel Benefit Contributions 44,988 34,217 2,399,790 2,367,568 137,407 123,395
Other Personnel Benefits 40,465 43,813 1,861,277 1,775,272 138,831 135,563
Maintenance and Other Operating Expenses 19,269 19,592 7,661,094 7,823,066 3,316,309 2,280,184
Training and Scholarship Expenses - - 12,855 13,228 21,788 20,389
Awards/Rewards, Prizes and Indemnities - - - - - 5
Extraordinary Expenses 181 49 - - 705 49,161
Repairs and Maintenance 547 1,690 225,239 339,963 5,600 8,191
Taxes, Insurance Premiums and Other Fees 1,238 484 2,964,230 2,761,703 20,917 7,173
Other Maintenance and Operating Expenses 7,870 7,661 3,363,748 3,637,450 2,769,504 1,592,199
Financial Expenses 1,123 905 32,555 71,395 5,811 1,328
Direct Costs 41,353 47,800 - - - -

Depreciation 7,796 8,277 904,467 1,192,665 77,359 55,044
Amortization - - 82,226 71,906 - -
Impairment Loss - - 4,568 12,205 - -
Losses 19 - 296,036 103,124 69 93
Profit/(Loss) Before Tax (106,632) (106,997) 43,439,974 38,292,565 5,070,578 3,094,927

Income Tax Expense - - 83,240 30,582 - -
Profit/(Loss) After Tax (106,632) (106,997) 43,356,734 38,261,984 5,070,578 3,094,927
Net Assistance/Subsidy - - (38,410,231) (33,749,530) - -

Financial Assistance/Subsidy/Contribution - - 38,410,231 33,749,530 - -
Net Income/(Loss) (106,632) (106,997) 4,946,503 4,512,454 5,070,578 3,094,927

Comprehensive Income/(Loss) (106,632) (106,997) 4,946,503 4,512,454 5,070,578 3,094,927
631
(in thousand pesos)
PHIC PITC PPPI

2017 2016 2017 2016 2017 2016
(Restated)
Income 62,993,602 59,511,880 250,840 190,118 67,336 154,954
Service Income 27,880 37,212 77,739 51,709 4,331 -
Business Income 62,897,697 59,460,691 168,702 119,578 62,968 154,419
Shares, Grants and Donations - 1,130 - - - -
Grants and Donations - 1,130 - - - -
Gains 51,412 396 4,043 12,603 - -
Other Non-Operating Income 16,612 12,450 356 6,228 37 536

Miscellaneous Income 16,612 12,450 356 6,228 37 536
Expenses 117,073,700 109,912,716 124,398 104,923 102,764 194,714

Other Personnel Benefits 30,921 10,159 6,885 5,748 292 441
Training and Scholarship Expenses 33,469 27,907 331 321 22 66
Awards/Rewards, Prizes and Indemnities 7,787 2,188 - - - -
Extraordinary Expenses 12,186 12,338 56 27 - -
Taxes, Insurance Premiums and Other Fees 18,101 14,895 8,615 3,928 699 3,760
Members' Benefits 110,490,087 102,130,696 - - - -
Other Maintenance and Operating Expenses 714,913 1,040,854 14,243 11,415 4,709 5,419
Financial Expenses 55,943 46,945 15 25 18,243 18,355
Direct Costs - - 7,479 10,097 53,927 137,858

Depreciation 270,410 208,719 676 569 722 743
Amortization 56,278 27,166 - - - -
Impairment Loss 9,677 139 - 4 - 93
Losses 1,169 990 3,919 2,830 - -
Profit/(Loss) Before Tax (54,080,098) (50,400,836) 126,442 85,196 (35,429) (39,759)

Income Tax Expense - - 197 (235) 410 396
Profit/(Loss) After Tax (54,080,098) (50,400,836) 126,245 85,430 (35,838) (40,155)
Net Assistance/Subsidy 49,329,582 50,149,305 - - - -

Assistance and Subsidy 49,329,582 50,149,305 - - - -
Net Income/(Loss) (4,750,516) (251,531) 126,245 85,430 (35,838) (40,155)

Comprehensive Income/(Loss) (4,750,516) (251,531) 126,245 85,430 (35,838) (40,155)
632
(in thousand pesos)
PRA Non-GBE BSoP

2017 2016 2017 2016 2017 2016
(Restated)
Income 822,976 783,240 8,701,087 7,605,917 403,840 246,647
Service Income 257,980 232,972 476,269 487,327 69,798 69,652
Business Income 533,653 450,992 7,860,413 6,977,894 332,415 176,097
Shares, Grants and Donations - - 282,185 41,196 5 23
Grants and Donations - - 282,185 41,196 5 23
Gains 31,108 98,879 4,815 26,115 - 16
Other Non-Operating Income 234 398 77,404 73,384 1,623 859

Reversal of Impairment Loss - - 20 - - -
Miscellaneous Income 234 398 77,384 73,384 1,623 859
Expenses 289,973 207,680 11,088,728 10,028,435 335,288 214,028

Salaries and Wages 32,036 24,812 1,903,078 1,719,355 34,244 32,004
Other Compensation 9,430 9,691 1,190,839 1,087,260 14,446 15,260
Other Personnel Benefits 2,917 957 138,103 212,695 5,203 5,105
Training and Scholarship Expenses 628 516 81,446 98,097 677 809
Supplies and Materials Expenses 2,199 1,896 3,160,156 2,793,096 5,173 1,652
Awards/Rewards, Prizes and Indemnities - - 2,673 1,146 2,495 975
Development Expenses - - 28,924 4,294 - -
Extraordinary Expenses 131 97 22,867 23,829 - -
Labor and Wages - - - 1 - 1
Other Maintenance and Operating Expenses 28,865 27,421 1,242,794 1,085,773 41,473 16,530
Direct Costs 156,041 108,175 497,665 455,249 142,392 81,257

Depreciation 966 3,165 621,671 551,664 16,354 9,507
Impairment Loss - 397 233,096 98,802 572 -
Losses 30,323 13,086 24,187 844 25 -
Discount and Rebates - - 270 317 270 317
Profit/(Loss) Before Tax 533,002 575,559 (2,387,642) (2,422,518) 68,552 32,619

Income Tax Expense 157,806 122,312 138 425 - -
Profit/(Loss) After Tax 375,197 453,248 (2,387,779) (2,422,943) 68,552 32,619
Net Assistance/Subsidy - - 4,125,422 4,964,348 (5,000) -

Assistance and Subsidy - - 4,148,047 4,981,651 - -
Financial Assistance/Subsidy/Contribution - - 22,625 17,303 5,000 -
Net Income/(Loss) 375,197 453,248 1,737,642 2,541,405 63,552 32,619

(Loss) for the Period - - (35) 2,574 (35) 2,574
Comprehensive Income/(Loss) 375,197 453,248 1,737,608 2,543,979 63,518 35,193
633
(in thousand pesos)
CCP CITEM DAP

2017 2016 2017 2016 2017 2016
Income 211,179 189,843 66,947 48,033 387,575 426,606
Service Income 1,967 1,026 61,808 44,099 277,728 326,112
Business Income 197,116 183,958 4,616 2,293 109,816 100,028
Shares, Grants and Donations 488 687 - - - -
Grants and Donations 488 687 - - - -
Gains 331 1,348 523 1,642 30 466
Other Non-Operating Income 11,277 2,824 - - - -

Miscellaneous Income 11,277 2,824 - - - -
Expenses 405,022 408,935 255,618 264,471 556,893 603,869

Training and Scholarship Expenses 356 438 934 1,438 53,104 77,576
Repairs and Maintenance 8,650 10,944 765 944 6,013 16,649
Financial Expenses 315 184 272 403 63 43
Direct Costs - - 86,388 92,039 - -

Depreciation 26,537 25,252 7,463 7,624 25,368 22,995
Impairment Loss 588 1,064 - - 62 -
Losses 51 - 32 387 245 404
Profit/(Loss) Before Tax (193,842) (219,092) (188,671) (216,438) (169,318) (177,263)

Profit/(Loss) After Tax (193,842) (219,092) (188,671) (216,438) (169,318) (177,263)
Net Assistance/Subsidy 829,969 547,599 220,000 195,000 212,159 249,841

Assistance and Subsidy 838,159 556,289 220,000 195,000 212,159 249,841
Financial Assistance/Subsidy/Contribution 8,190 8,690 - - - -
Net Income/(Loss) 636,127 328,507 31,329 (21,438) 42,841 72,579

Comprehensive Income/(Loss) 636,127 328,507 31,329 (21,438) 42,841 72,579
634
(in thousand pesos)
LCP NKTI PCED

2017 2016 2017 2016 2017 2016
Income 772,519 525,832 2,921,914 2,471,070 8,493 9,268
Service Income - - 6,682 18,549 - -
Business Income 561,308 525,832 2,881,526 2,413,929 8,493 9,268
Shares, Grants and Donations 211,211 - - - - -
Grants and Donations 211,211 - - - - -
Gains - - 1,237 14,081 - -
Other Non-Operating Income - - 32,468 24,510 - -

Miscellaneous Income - - 32,468 24,510 - -
Expenses 852,321 765,253 2,660,219 2,402,670 27,908 16,695

Other Compensation 140,339 123,611 183,709 172,631 679 595
Other Personnel Benefits 12,584 16,352 37,934 24,516 747 685
Traveling Expenses 211 80 289 150 42 24
Training and Scholarship Expenses 552 435 1,630 1,355 285 198
Supplies and Materials Expenses 229,500 167,003 1,302,269 1,269,421 822 960
Utility Expenses 56,476 53,944 140,927 132,390 34 -
Extraordinary Expenses 137 337 20,055 22,502 13 17
General Services 83,025 84,839 60,462 60,628 - -
Repairs and Maintenance 21,601 18,265 71,120 59,005 1,336 946
Financial Expenses 5,023 6,580 6,148 6,274 - -
Direct Costs - (95) - - - -

Depreciation 80,440 74,388 177,966 169,787 4,381 4,160
Impairment Loss 13,090 26,597 78,961 25,653 - -
Losses - - 14 - - -
Profit/(Loss) Before Tax (79,802) (239,421) 261,695 68,400 (19,415) (7,427)

Profit/(Loss) After Tax (79,802) (239,421) 261,695 68,400 (19,415) (7,427)

Net Income/(Loss) 185,388 (37,277) 527,584 400,755 25,330 20,742

Comprehensive Income/(Loss) 185,388 (37,277) 527,584 400,755 25,330 20,742
635
(in thousand pesos)
PCMC PHC PIDS

2017 2016 2017 2016 2017 2016
(Restated)
Income 591,556 521,606 2,752,675 2,614,208 29,068 37,134
Service Income - - - - 8,772 -
Business Income 509,589 468,678 2,752,217 2,610,934 19,968 20,627
Shares, Grants and Donations 70,481 40,296 - - - 190
Grants and Donations 70,481 40,296 - - - 190
Gains 18 133 458 3,274 328 995
Other Non-Operating Income 11,469 12,499 - - - 15,321

Miscellaneous Income 11,469 12,499 - - - 15,321
Expenses 1,102,662 1,064,807 3,135,758 2,697,598 157,913 122,618

Traveling Expenses 726 544 518 320 4,271 465
Supplies and Materials Expenses 40,814 29,792 1,486,965 1,229,780 1,907 1,912
Repairs and Maintenance 12,260 10,651 53,734 67,320 1,114 527
Financial Expenses 312 308 118 30 71 47
Direct Costs 260,513 260,453 - - - -

Depreciation 74,031 62,861 141,945 123,290 11,505 11,803
Impairment Loss 270 1,267 37,507 33,394 - -
Losses 3,336 - 19,580 0 310 41


Net Income/(Loss) 33,057 384,122 230,511 370,033 72,366 14,961

636
(in thousand pesos)
PITAHC PTNI TPB

2017 2016 2017 2016 2017 2016
Income 22,921 53,916 236,334 164,093 59,716 53,597
Service Income 1,676 2,307 - - 47,838 25,582
Business Income 21,209 51,585 219,372 163,731 6,418 6,870
Gains - 24 - - 1,891 4,136
Other Non-Operating Income 36 - 16,962 361 3,569 17,009

Reversal of Impairment Loss 20 - - - - -
Miscellaneous Income 16 - 16,962 361 3,569 17,009
Expenses 137,499 107,214 395,546 350,614 979,517 931,620

Other Personnel Benefits 2,285 973 4,718 83,656 2,572 8,701
Traveling Expenses 2,150 2,301 14,856 6,525 1,279 526
Communication Expenses 1,050 899 7,701 5,707 5,635 5,792
Awards/Rewards, Prizes and Indemnities - - - 34 - -
Extraordinary Expenses 113 101 1,523 10 274 -
Professional Services 2,888 674 72,693 58,062 28,844 10,527
Taxes, Insurance Premiums and Other Fees 1,016 898 1,826 759 2,416 1,856
Financial Expenses 264 64 1,454 48 1,721 1,306
Direct Costs 8,371 21,595 - - - -

Depreciation 7,709 3,782 40,908 30,849 6,103 4,225
Impairment Loss 1,579 43 100,468 10,784 - -
Losses 259 - 38 1 297 11

Income Tax Expense 138 425 - - - -
Net Assistance/Subsidy 116,932 55,646 137,975 829,002 688,030 1,052,013

Assistance and Subsidy 116,932 55,646 137,975 829,002 688,030 1,052,013
Net Income/(Loss) 2,216 1,922 (21,237) 642,480 (231,772) 173,990

Comprehensive Income/(Loss) 2,216 1,922 (21,237) 642,480 (231,772) 173,990
637
(in thousand pesos)
VFP
2017 2016
Income 236,349 244,063
Service and Business Income 236,349 244,063

Service Income - -
Business Income 236,349 244,063
Shares, Grants and Donations - -
Grants and Donations - -
Gains - -
Other Non-Operating Income - -

Reversal of Impairment Loss - -
Miscellaneous Income - -
Expenses 86,564 78,041
Personnel Services 38,297 32,092

Salaries and Wages 19,579 16,045
Other Compensation 18,136 15,429
Personnel Benefit Contributions 581 618
Other Personnel Benefits - -
Maintenance and Other Operating Expenses 47,177 44,758
Traveling Expenses 5,928 7,788
Training and Scholarship Expenses 138 37
Supplies and Materials Expenses 17,833 10,949
Utility Expenses 2,268 2,295
Communication Expenses 808 617
Awards/Rewards, Prizes and Indemnities - -
Development Expenses - -
Extraordinary Expenses 2 6
Professional Services 3,083 2,530
General Services 6,828 6,679
Repairs and Maintenance 435 1,035
Taxes, Insurance Premiums and Other Fees 14 6,446
Labor and Wages - -
Members' Benefits - -
Other Maintenance and Operating Expenses 9,841 6,376
Financial Expenses 130 49
Direct Costs - -
Non-Cash Expenses 961 1,142

Depreciation 961 1,142
Amortization - -
Impairment Loss - -
Losses - -
Discount and Rebates - -
Profit/(Loss) Before Tax 149,785 166,022

Income Tax Expense - -
Profit/(Loss) After Tax 149,785 166,022
Net Assistance/Subsidy (9,435) (8,613)

Assistance and Subsidy - -
Financial Assistance/Subsidy/Contribution 9,435 8,613
Net Income/(Loss) 140,350 157,409

(Loss) for the Period - -
Comprehensive Income/(Loss) 140,350 157,409
638
STATEMENT OF
CHANGES IN NET
ASSETS/EQUITY
Statement of Changes in Net Assets/Equity
(in thousand pesos)
BSP (inludes PICCI

Total GBE
accounts)
2017 2016 2017 2016 2017 2016
GOVERNMENT EQUITY (409,990,694) (410,300,661) 3,000,000 3,000,000 - -
Beginning balance (413,300,661) (414,365,082) - - - -
Changes in Equity for the Year 309,967 1,064,421 - - - -
Add/(Deduct):
Surplus/(Deficit) for the period (19,206) 887,476 - - - -
Other Adjustments 329,173 176,945 - - - -
Ending Balance (412,990,694) (413,300,661) - - - -
GOVERNMENT EQUITY
Ending Balance 3,000,000 3,000,000 3,000,000 3,000,000 - -
REVALUATION SURPLUS
Beginning balance 61,200 61,200 61,200 61,200 - -
Ending Balance 61,200 61,200 61,200 61,200 - -
Beginning balance 243,409,615 198,245,568 243,409,615 198,245,568 10,506,619 (6,650,166)
Adjustments: - (235,745) - (235,745) - (34,994)
Add/(Deduct):
Prior Period Errors - (219,506) - (219,506) - (18,756)
Other Adjustments - 41,195 - 41,195 - 41,195
Restated Balance 243,409,615 198,009,823 243,409,615 198,009,823 10,506,619 (6,685,160)
Changes in Equity for the Year 57,424,298 45,399,792 57,424,298 45,399,792 21,505,992 17,191,779
Add/(Deduct):
Net Income/Loss for the Year 50,338,691 41,601,274 50,338,691 41,601,274 23,505,835 17,506,153
Dividends (12,141,639) (11,789,649) (12,141,639) (11,789,649) (1,842,496) -
Other Adjustments 19,227,246 15,588,168 19,227,246 15,588,168 (157,347) (314,374)
Ending Balance 300,833,913 243,409,615 300,833,913 243,409,615 32,012,612 10,506,619
SHARE CAPITAL
Adjustments: - 20,000 - 20,000 - -
Add/(Deduct):

Add/(Deduct):
Issuances of Share Capital 3,184,000 10,829,000 3,184,000 10,829,000 - -
Ending Balance 91,837,974 88,653,974 91,721,307 88,537,307 50,000,000 50,000,000
SHARE PREMIUM
Ending Balance 1,025,470 1,025,470 1,025,470 1,025,470 - -

Changes in Equity for the Year - (5,833) - - - -
Add/(Deduct):
Ending Balance 106,028 106,028 103,528 103,528 - -
TREASURY SHARES
Beginning balance (0) (0) (0) (0) - -
639
(in thousand pesos)
BSP (inludes PICCI

Total GBE
accounts)
2017 2016 2017 2016 2017 2016
Changes in Equity for the Year 0 (0) 0 (0) - -

Add/(Deduct):
Ending Balance - (0) - (0) - -

OF INVESTMENTS
Beginning balance (5,349,729) 2,005,680 (5,349,729) 2,005,680 (2,495,068) (2,975,701)
Changes in Equity for the Year 3,489,660 (7,355,409) 3,489,660 (7,355,409) 1,170,971 480,633
Add/(Deduct):
Changes in fair value of available-for-sale
securities 3,489,660 (7,355,409) 3,489,660 (7,355,409) 1,170,971 480,633
Ending Balance (1,860,069) (5,349,729) (1,860,069) (5,349,729) (1,324,098) (2,495,068)
Total Equity (17,986,178) (82,394,103) 394,885,349 330,787,391 80,688,514 58,011,551
640
(in thousand pesos)
DBP AAIIBP DBPLC

2017 2016 2017 2016 2017 2016
GOVERNMENT EQUITY - - - - - -
Add/(Deduct):
Surplus/(Deficit) for the period - - - - - -
GOVERNMENT EQUITY
REVALUATION SURPLUS
Beginning balance 33,744,346 31,373,927 (707,503) (655,007) (90,404) (138,243)
Adjustments: - - - (751) - -
Add/(Deduct):
Changes in Accounting Policy - - - - - -
Prior Period Errors - - - (751) - -
Restated Balance 33,744,346 31,373,927 (707,503) (655,758) (90,404) (138,243)
Changes in Equity for the Year 2,734,125 2,370,419 (59,096) (51,745) 62,800 47,839
Add/(Deduct):
Net Income/Loss for the Year 5,489,304 4,436,471 (59,096) (51,546) 64,733 67,979
Dividends (2,516,158) (2,341,125) - - (1,933) (20,140)
Other Adjustments (239,021) 275,073 - (199) - -
Ending Balance 36,478,471 33,744,346 (766,599) (707,503) (27,604) (90,404)
SHARE CAPITAL
Add/(Deduct):
Changes in Equity for the Year - 5,000,000 - - - -

Add/(Deduct):
Issuances of Share Capital - 5,000,000 - - - -
Ending Balance 17,500,000 17,500,000 200,002 200,002 1,132,000 1,132,000
SHARE PREMIUM
Beginning balance - - 805,238 805,238 - -
Ending Balance - - 805,238 805,238 - -

Add/(Deduct):
TREASURY SHARES
641
(in thousand pesos)
DBP AAIIBP DBPLC

2017 2016 2017 2016 2017 2016

Add/(Deduct):

OF INVESTMENTS
Changes in Equity for the Year 460,838 (381,454) - - - -
Add/(Deduct):
securities 460,838 (381,454) - - - -
Ending Balance (5,893,628) (6,354,466) - - - -
Total Equity 48,084,843 44,889,880 238,642 297,738 1,104,396 1,041,596
642
(in thousand pesos)
DBPMC DCI LBP

2017 2016 2017 2016 2017 2016
(Restated)
Add/(Deduct):
GOVERNMENT EQUITY
REVALUATION SURPLUS
Beginning balance 25,399 22,715 31,311 21,948 71,748,218 63,219,738
Add/(Deduct):
Restated Balance 25,399 22,715 31,311 21,948 71,748,218 63,219,738
Changes in Equity for the Year 1,163 2,684 (7,964) 9,363 15,781,669 8,528,480
Add/(Deduct):
Net Income/Loss for the Year 1,046 2,684 1,217 12,363 15,505,365 14,105,452
Dividends - - (6,182) (3,000) - (6,600,000)
Other Adjustments 117 - (3,000) - 276,304 1,023,029
Ending Balance 26,562 25,399 23,347 31,311 87,529,887 71,748,218
STOCKHOLDERS' EQUITY 45,000 45,000 23,280 20,280 21,082,098 17,901,098
SHARE CAPITAL
Add/(Deduct):
Changes in Equity for the Year - - 3,000 - 3,181,000 5,829,000

Add/(Deduct):
Issuances of Share Capital - - 3,000 - 3,181,000 5,829,000
Ending Balance 45,000 45,000 23,280 20,280 20,981,000 17,800,000
SHARE PREMIUM
Beginning balance - - - - 101,098 101,098
Ending Balance - - - - 101,098 101,098

Add/(Deduct):
TREASURY SHARES
643
(in thousand pesos)
DBPMC DCI LBP

2017 2016 2017 2016 2017 2016
(Restated)

Add/(Deduct):

OF INVESTMENTS
Beginning balance (140) (138) - - 3,536,033 10,952,122
Changes in Equity for the Year (31) (2) - - 1,875,908 (7,416,089)
Add/(Deduct):
securities (31) (2) - - 1,875,908 (7,416,089)
Ending Balance (171) (140) - - 5,411,941 3,536,033
Total Equity 71,390 70,259 46,627 51,591 114,023,927 93,185,349
644
(in thousand pesos)
LBRDC LIBI LLFC

2017 2016 2017 2016 2017 2016
Add/(Deduct):
GOVERNMENT EQUITY
REVALUATION SURPLUS
Beginning balance 61,200 61,200 - - - -
Ending Balance 61,200 61,200 - - - -
Add/(Deduct):
Restated Balance 331,465 299,550 650,119 610,248 819,305 802,674
Changes in Equity for the Year 39,369 31,915 40,281 39,871 64,940 16,631
Add/(Deduct):
Net Income/Loss for the Year 69,870 61,003 77,018 71,804 113,692 91,306
Dividends (30,501) (29,436) (37,759) (41,408) (48,752) (80,500)
Other Adjustments 0 348 1,022 9,474 - 5,825
Ending Balance 370,834 331,465 690,400 650,119 884,245 819,305
STOCKHOLDERS' EQUITY 138,375 138,375 300,000 300,000 599,523 599,523
SHARE CAPITAL
Add/(Deduct):
Restated Balance 133,212 133,212 300,000 300,000 485,553 485,553

Add/(Deduct):
Issuances of Share Capital - - - - - -
Ending Balance 133,212 133,212 300,000 300,000 485,553 485,553
SHARE PREMIUM
Beginning balance 5,163 5,163 - - 113,971 113,971
Ending Balance 5,163 5,163 - - 113,971 113,971

Add/(Deduct):
TREASURY SHARES
Beginning balance - - - - (0) (0)
645
(in thousand pesos)
LBRDC LIBI LLFC

2017 2016 2017 2016 2017 2016
Changes in Equity for the Year - - - - 0 (0)

Add/(Deduct):
Other Adjustments - - - - 0 (0)
Ending Balance - - - - - (0)

OF INVESTMENTS
Add/(Deduct):
securities - - - - - -
Total Equity 570,409 531,040 990,400 950,119 1,483,769 1,418,829
646
(in thousand pesos)

2017 2016 2017 2016 2017 2016
(Restated)
GOVERNMENT EQUITY - - - - 3,000,000 3,000,000
Add/(Deduct):
GOVERNMENT EQUITY
Beginning balance - - - - 3,000,000 3,000,000
Ending Balance - - - - 3,000,000 3,000,000
REVALUATION SURPLUS
Beginning balance 45,594 31,878 (632,596) (607,666) 126,755,097 109,704,453
Adjustments: - - - - - (200,000)
Add/(Deduct):
Prior Period Errors - - - - - (200,000)
Restated Balance 45,594 31,878 (632,596) (607,666) 126,755,097 109,504,453
Changes in Equity for the Year 13,899 13,716 (41,198) (24,930) 17,395,089 17,250,644
Add/(Deduct):
Net Income/Loss for the Year 30,740 27,119 (42,860) (25,090) 5,688,598 5,322,450
Dividends (13,560) (12,816) - - (7,644,299) (2,661,225)
Other Adjustments (3,281) (587) 1,663 159 19,350,790 14,589,419
Ending Balance 59,494 45,594 (673,794) (632,596) 144,150,186 126,755,097
STOCKHOLDERS' EQUITY 100,000 100,000 104,545 104,545 - -
SHARE CAPITAL
Add/(Deduct):
Restated Balance 100,000 100,000 1,017 1,017 - -

Add/(Deduct):
Ending Balance 100,000 100,000 1,017 1,017 - -
SHARE PREMIUM

Add/(Deduct):
Ending Balance - - 103,528 103,528 - -
TREASURY SHARES
647
(in thousand pesos)

2017 2016 2017 2016 2017 2016
(Restated)

Add/(Deduct):

OF INVESTMENTS
Add/(Deduct):
Total Equity 159,494 145,594 (569,249) (528,051) 147,150,186 129,755,097
648
(in thousand pesos)

2017 2016 2017 2016 2017 2016
GOVERNMENT EQUITY - - (412,990,694) (413,300,661) (413,119,270) (413,446,007)
Beginning balance - - (413,300,661) (414,365,082) (413,446,007) (414,472,440)
Changes in Equity for the Year - - 309,967 1,064,421 326,737 1,026,434
Add/(Deduct):
Surplus/(Deficit) for the period - - (19,206) 887,476 (2,563) 848,108
Other Adjustments - - 329,173 176,945 329,300 178,326
Ending Balance - - (412,990,694) (413,300,661) (413,119,270) (413,446,007)
GOVERNMENT EQUITY
REVALUATION SURPLUS
Add/(Deduct):
Restated Balance 182,645 209,520 - - - -
Changes in Equity for the Year (106,772) (26,875) - - - -

Add/(Deduct):
Net Income/Loss for the Year (106,772) (26,875) - - - -
Ending Balance 75,872 182,645 - - - -
SHARE CAPITAL
Adjustments: - 20,000 - - - -
Add/(Deduct):

Add/(Deduct):
Ending Balance 820,243 820,243 116,667 116,667 - -
SHARE PREMIUM

Changes in Equity for the Year - - - (5,833) - -
Add/(Deduct):
Other Adjustments - - - (5,833) - -
Ending Balance - - 2,500 2,500 - -
TREASURY SHARES
649
(in thousand pesos)

2017 2016 2017 2016 2017 2016

Add/(Deduct):

OF INVESTMENTS
Beginning balance (36,088) 2,410 - - - -
Add/(Deduct):
securities (18,026) (38,497) - - - -
Ending Balance (54,113) (36,088) - - - -
Total Equity 842,002 966,800 (412,871,527) (413,181,494) (413,119,270) (413,446,007)
650
(in thousand pesos)
CIC LCDFI
2017 2016 2017 2016
GOVERNMENT EQUITY 25,513 41,680 103,063 103,665
Beginning balance 41,680 4,402 103,665 102,957
Changes in Equity for the Year (16,168) 37,279 (602) 709
Add/(Deduct):
Surplus/(Deficit) for the period (16,168) 37,279 (475) 2,090
Other Adjustments - - (127) (1,381)
Ending Balance 25,513 41,680 103,063 103,665
GOVERNMENT EQUITY
Beginning balance - - - -
Ending Balance - - - -
REVALUATION SURPLUS
Adjustments: - - - -
Add/(Deduct):
Changes in Accounting Policy - - - -
Prior Period Errors - - - -
Other Adjustments - - - -
Restated Balance - - - -
Changes in Equity for the Year - - - -

Add/(Deduct):
Net Income/Loss for the Year - - - -
Dividends - - - -
STOCKHOLDERS' EQUITY 119,167 119,167 - -
SHARE CAPITAL
Beginning balance 116,667 116,667 - -
Add/(Deduct):
Restated Balance 116,667 116,667 - -

Add/(Deduct):
Issuances of Share Capital - - - -
Ending Balance 116,667 116,667 - -
SHARE PREMIUM

Beginning balance 2,500 8,333 - -
Changes in Equity for the Year - (5,833) - -
Add/(Deduct):
Other Adjustments - (5,833) - -
Ending Balance 2,500 2,500 - -
TREASURY SHARES
651
(in thousand pesos)
CIC LCDFI
2017 2016 2017 2016

Add/(Deduct):

OF INVESTMENTS
Add/(Deduct):
securities - - - -
Total Equity 144,679 160,847 103,063 103,665
652
(in thousand pesos)
Total GBE AFPRSBS

2017 2016 2017 2016 2017 2016
GOVERNMENT EQUITY 125,281,361 105,881,248 5,823,345 4,596,645 200,000 200,000
Adjustments: - 4,577 - - - -
Add/(Deduct):
Restated Balance 88,668,862 78,009,578 - - - -
Changes in Equity for the Year 18,155,200 10,659,284 - - - -

Add/(Deduct):
Surplus/(Deficit) for the period 18,248,340 10,552,828 - - - -
Dividends (18,220) - - - - -
Ending Balance 106,824,062 88,668,862 - - - -
GOVERNMENT EQUITY
Beginning balance 3,019,542 3,019,564 126,135 126,157 - -
Changes in Equity for the Year - (22) - (22) - -
Add/(Deduct):
Other Adjustments - (22) - (22) - -
Ending Balance 3,019,542 3,019,542 126,135 126,135 - -
CONTRIBUTED CAPITAL
Beginning balance 14,192,844 13,719,576 4,470,510 4,470,510 200,000 200,000
Changes in Equity for the Year 1,244,914 473,268 1,226,700 - - -
Add/(Deduct):
Government 1,226,700 373,880 1,226,700 - - -
Other Adjustments 18,214 99,389 - - - -
Ending Balance 15,437,758 14,192,844 5,697,210 4,470,510 200,000 200,000
REVALUATION SURPLUS
Changes in Equity for the Year (722,233) 229,979 (722,233) 229,979 - -
Add/(Deduct):
the Year - 229,979 - 229,979 -
Other Adjustments (722,233) - (722,233) - - -
Ending Balance 12,741,161 13,463,393 12,741,161 13,463,393 - -
Beginning balance 1,533,213,436 1,412,423,826 1,533,213,436 1,412,423,826 987,484 997,232
Adjustments: - 18,964,013 - 18,964,013 - (350,677)
Add/(Deduct):
Changes in Accounting Policy - (55,476) - (55,476) - -
Prior Period Errors - (1,327,558) - (1,327,558) - 16,623
Other Adjustments - 20,347,046 - 20,347,046 - (367,300)
Restated Balance 1,533,213,436 1,431,387,838 1,533,213,436 1,431,387,838 987,484 646,554
Add/(Deduct):
Net Income/Loss for the Year 149,481,908 116,613,860 149,481,908 116,613,860 406,995 218,449
Dividends (22,986,683) (14,629,907) (22,986,683) (14,629,907) - -
Other Adjustments (370,511) (158,355) (370,511) (158,355) - 122,480
Ending Balance 1,659,338,149 1,533,213,436 1,659,338,149 1,533,213,436 1,394,479 987,484
STOCKHOLDERS' EQUITY 23,054,312 22,554,312 23,054,312 22,554,312 - -

653
(in thousand pesos)
Total GBE AFPRSBS

2017 2016 2017 2016 2017 2016
Changes in Equity for the Year 500,000 79,510 500,000 79,510 - -

Add/(Deduct):
Government 500,000 - 500,000 - - -
Ending Balance 23,054,312 22,554,312 23,054,312 22,554,312 - -

Beginning balance (57,416) - (57,416) - - -
Changes in Equity for the Year (64,886) (57,416) (64,886) (57,416) - -
Add/(Deduct):
the Year (122,302) (57,416) (122,302) (57,416) - -
Other Adjustments 57,416 - 57,416 - - -
Ending Balance (122,302) (57,416) (122,302) (57,416) - -

OF INVESTMENTS
Beginning balance (16,996,571) (12,206,805) (16,996,571) (12,206,805) 10,732 -
Adjustments: - 10,180 - 10,180 - 10,180
Add/(Deduct):
Prior Period Errors - 16,567 - 16,567 - 16,567
Other Adjustments - (6,386) - (6,386) - (6,386)
Restated Balance (16,996,571) (12,196,625) (16,996,571) (12,196,625) 10,732 10,180
Changes in Equity for the Year 3,444,071 (4,799,946) 3,444,071 (4,799,946) 2,326 552
Add/(Deduct):
securities 3,444,071 (4,799,946) 3,444,071 (4,799,946) 2,326 552
Other Adjustments 0 - 0 - - -
Ending Balance (13,552,500) (16,996,571) (13,552,500) (16,996,571) 13,058 10,732
MEMBERS' EQUITY
Beginning balance 318,372,760 301,421,320 318,372,760 301,421,320 - 10,747,205
Adjustments: - (10,747,205) - (10,747,205) - (10,747,205)
Add/(Deduct):
Prior Period Errors - (10,747,205) - (10,747,205) - (10,747,205)

Add/(Deduct):
Member's Contribution 33,880,667 32,587,761 33,880,667 32,587,761 - -
Dividends 22,301,678 14,250,781 22,301,678 14,250,781 - -
Other Adjustments (12,345,098) (19,139,897) (12,345,098) (19,139,897) - -
Ending Balance 362,210,007 318,372,760 362,210,007 318,372,760 - -
Total Equity 2,168,950,188 1,976,431,161 2,049,492,172 1,875,146,558 1,607,537 1,198,216
654
(in thousand pesos)
SUMSI GSIS HDMF

2017 2016 2017 2016 2017 2016
Add/(Deduct):

Add/(Deduct):
GOVERNMENT EQUITY
Add/(Deduct):
CONTRIBUTED CAPITAL
Add/(Deduct):
REVALUATION SURPLUS
Beginning balance - - 8,176,863 7,946,884 - -
Changes in Equity for the Year - - - 229,979 - -
Add/(Deduct):
the Year - - - - 229,979 -
Ending Balance - - 8,176,863 8,176,863 - -
Beginning balance 18,973 18,631 1,001,898,473 925,745,012 67,536,534 56,777,623
Adjustments: - (3,870) - 20,082,098 - -
Add/(Deduct):
Changes in Accounting Policy - - - (55,476) - -
Prior Period Errors - (3,870) - (1,560,462) - -
Other Adjustments - - - 21,698,036 - -
Restated Balance 18,973 14,761 1,001,898,473 945,827,110 67,536,534 56,777,623
Changes in Equity for the Year (2,492) 4,212 94,701,171 56,071,363 7,893,661 10,758,911
Add/(Deduct):
Net Income/Loss for the Year 6,508 5,870 94,705,786 56,104,363 30,268,113 25,008,745
Dividends (9,000) (2,000) (4,615) (33,000) (22,301,678) (14,250,781)
Other Adjustments - 341 - - (72,774) 947
Ending Balance 16,481 18,973 1,096,599,644 1,001,898,473 75,430,195 67,536,534
STOCKHOLDERS' EQUITY 10,000 10,000 - - - -

655
(in thousand pesos)
SUMSI GSIS HDMF

2017 2016 2017 2016 2017 2016

Add/(Deduct):
Ending Balance 10,000 10,000 - - - -

Add/(Deduct):
the Year - - - - - -

OF INVESTMENTS
Beginning balance - - - - (1,298,544) 519,944
Add/(Deduct):
Restated Balance - - - - (1,298,544) 519,944
Changes in Equity for the Year - - 3,701 - (4,034,731) (1,818,488)

Add/(Deduct):
securities - - 3,701 - (4,034,731) (1,818,488)
Ending Balance - - 3,701 - (5,333,274) (1,298,544)
MEMBERS' EQUITY
Add/(Deduct):
Restated Balance - - - - 317,744,306 290,136,012
Changes in Equity for the Year - - - - 43,691,766 27,608,294

Add/(Deduct):
Member's Contribution - - - - 33,710,936 32,469,051
Dividends - - - - 22,301,678 14,250,781
Other Adjustments - - - - (12,320,848) (19,111,538)
Ending Balance - - - - 361,436,073 317,744,306
Total Equity 26,481 28,973 1,104,780,208 1,010,075,336 431,532,993 383,982,297
656
(in thousand pesos)
HGC NHMFC SHFC

2017 2016 2017 2016 2017 2016
GOVERNMENT EQUITY - - 5,605,405 4,378,705 - -
Add/(Deduct):

Add/(Deduct):
GOVERNMENT EQUITY
Add/(Deduct):
Ending Balance - - 108,195 108,195 - -
CONTRIBUTED CAPITAL
Changes in Equity for the Year - - 1,226,700 - - -
Add/(Deduct):
Government - - 1,226,700 - - -
Ending Balance - - 5,497,210 4,270,510 - -
REVALUATION SURPLUS
Changes in Equity for the Year (722,233) - - - - -
Add/(Deduct):
the Year - - - - - -
Other Adjustments (722,233) - - - - -
Ending Balance 1,685,209 2,407,442 - - - -
Beginning balance (8,547,075) (9,111,387) (4,586,214) (4,379,979) 4,153,017 2,210,919
Adjustments: - 129,265 - (949,551) - 43,892
Add/(Deduct):
Prior Period Errors - 129,265 - 69,913 - 8,119
Other Adjustments - - - (1,019,464) - 35,773
Restated Balance (8,547,075) (8,982,123) (4,586,214) (5,329,529) 4,153,017 2,254,811
Changes in Equity for the Year 258,139 435,047 786,956 743,315 1,351,433 1,898,205
Add/(Deduct):
Net Income/Loss for the Year 535,635 690,940 1,084,007 743,315 1,432,226 2,037,798
Dividends (277,496) (255,893) (297,051) - (84,713) (68,662)
Other Adjustments - - - - 3,920 (70,931)
Ending Balance (8,288,937) (8,547,075) (3,799,258) (4,586,214) 5,504,450 4,153,017
STOCKHOLDERS' EQUITY 15,073,000 15,073,000 - - 10,000 10,000

Beginning balance 15,073,000 15,073,000 - - 10,000 10,000
657
(in thousand pesos)
HGC NHMFC SHFC

2017 2016 2017 2016 2017 2016

Add/(Deduct):
Ending Balance 15,073,000 15,073,000 - - 10,000 10,000

Add/(Deduct):
the Year - - - - - -

OF INVESTMENTS
Beginning balance 165 629 (19,330) (38,797) - -
Add/(Deduct):
Restated Balance 165 629 (19,330) (38,797) - -
Changes in Equity for the Year (165) (464) (7,772) 19,467 - -

Add/(Deduct):
securities (165) (464) (7,772) 19,467 - -
Ending Balance - 165 (27,102) (19,330) - -
MEMBERS' EQUITY
Add/(Deduct):

Add/(Deduct):
Total Equity 8,469,273 8,933,532 1,779,044 (226,840) 5,514,450 4,163,017
658
(in thousand pesos)
PDGCC SBGFC SSS

2017 2016 2017 2016 2017 2016
GOVERNMENT EQUITY 17,940 17,940 - - - -
Add/(Deduct):

Add/(Deduct):
GOVERNMENT EQUITY
Changes in Equity for the Year - (22) - - - -
Add/(Deduct):
Other Adjustments - (22) - - - -
Ending Balance 17,940 17,940 - - - -
CONTRIBUTED CAPITAL
Add/(Deduct):
REVALUATION SURPLUS
Add/(Deduct):
the Year - - - - - -
Ending Balance - - - - 2,879,088 2,879,088
Adjustments: - (8) - 821 - -
Add/(Deduct):
Prior Period Errors - (8) - 821 - -
Changes in Equity for the Year 3,426 5,268 825,230 23,264 20,033,325 31,807,179
Add/(Deduct):
Net Income/Loss for the Year 2,893 5,268 897,978 56,208 20,274,898 32,004,973
Dividends - - (12,130) (19,571) - -
Other Adjustments 533 - (60,618) (13,373) (241,573) (197,795)
Ending Balance 16,947 13,521 1,022,060 196,830 496,595,968 476,562,643
STOCKHOLDERS' EQUITY - - 1,999,412 1,999,412 - -

659
(in thousand pesos)
PDGCC SBGFC SSS

2017 2016 2017 2016 2017 2016

Add/(Deduct):
Other Adjustments - - - 79,510 - -
Ending Balance - - 1,999,412 1,999,412 - -

Beginning balance - - (57,416) - - -
Changes in Equity for the Year - - (64,886) (57,416) - -
Add/(Deduct):
the Year - - (122,302) (57,416) - -
Other Adjustments - - 57,416 - - -
Ending Balance - - (122,302) (57,416) - -

OF INVESTMENTS
Beginning balance - - - - (15,650,038) (12,648,278)
Add/(Deduct):
Restated Balance - - - - (15,650,038) (12,648,278)
Changes in Equity for the Year - - - - 7,488,488 (3,001,760)

Add/(Deduct):
securities - - - - 7,488,488 (3,001,760)
Ending Balance - - - - (8,161,550) (15,650,038)
MEMBERS' EQUITY
Add/(Deduct):
Restated Balance - - - - 628,454 538,103
Changes in Equity for the Year - - - - 145,481 90,350

Add/(Deduct):
Member's Contribution - - - - 169,731 118,710
Other Adjustments - - - - (24,250) (28,360)
Ending Balance - - - - 773,934 628,454
Total Equity 34,887 31,461 2,899,171 2,138,826 492,087,441 464,420,147
660
(in thousand pesos)
TIDCORP Non-GBE ECC

2017 2016 2017 2016 2017 2016
GOVERNMENT EQUITY - - 119,458,016 101,284,603 424,310 441,488
Beginning balance - - 88,668,862 78,005,001 441,488 411,071
Adjustments: - - - 4,577 - 3,848
Add/(Deduct):
Prior Period Errors - - - 4,577 - 3,848
Restated Balance - - 88,668,862 78,009,578 441,488 414,919
Changes in Equity for the Year - - 18,155,200 10,659,284 (17,179) 26,569

Add/(Deduct):
Surplus/(Deficit) for the period - - 18,248,340 10,552,828 (17,653) 26,569
Dividends - - (18,220) - - -
Other Adjustments - - (74,921) 106,456 474 -
Ending Balance - - 106,824,062 88,668,862 424,310 441,488
GOVERNMENT EQUITY
Add/(Deduct):
Ending Balance - - 2,893,407 2,893,407 - -
CONTRIBUTED CAPITAL
Changes in Equity for the Year - - 18,214 473,268 - -
Add/(Deduct):
Government - - - 373,880 - -
Other Adjustments - - 18,214 99,389 - -
Ending Balance - - 9,740,548 9,722,334 - -
REVALUATION SURPLUS
Add/(Deduct):
the Year - - - - - -
Adjustments: - 12,043 - - - -
Add/(Deduct):
Restated Balance (5,020,748) (4,758,653) - - - -

Add/(Deduct):
Net Income/Loss for the Year (133,131) (262,070) - - - -
Other Adjustments (0) (25) - - - -
Ending Balance (5,153,880) (5,020,748) - - - -
STOCKHOLDERS' EQUITY 5,961,899 5,461,899 - - - -

661
(in thousand pesos)
TIDCORP Non-GBE ECC

2017 2016 2017 2016 2017 2016
Changes in Equity for the Year 500,000 - - - - -

Add/(Deduct):
Government 500,000 - - - - -
Ending Balance 5,961,899 5,461,899 - - - -

Add/(Deduct):
the Year - - - - - -

OF INVESTMENTS
Beginning balance (39,557) (40,303) - - - -
Add/(Deduct):
Restated Balance (39,557) (40,303) - - - -
Changes in Equity for the Year (7,776) 746 - - - -

Add/(Deduct):
securities (7,776) 746 - - - -
Other Adjustments 0 - - - - -
Ending Balance (47,333) (39,557) - - - -
MEMBERS' EQUITY (47,333) (39,557)

Add/(Deduct):

Add/(Deduct):
Total Equity 760,687 401,594 119,458,016 101,284,603 424,310 441,488
662
(in thousand pesos)
NHA OSHC
2017 2016 2017 2016
GOVERNMENT EQUITY 118,663,659 100,504,131 370,048 338,984
Beginning balance 87,888,390 77,282,858 338,984 311,071
Adjustments: - - - 729
Add/(Deduct):
Prior Period Errors - - - 729
Restated Balance 87,888,390 77,282,858 338,984 311,800
Changes in Equity for the Year 18,141,315 10,605,532 31,064 27,183

Add/(Deduct):
Surplus/(Deficit) for the period 18,234,929 10,499,075 31,064 27,183
Dividends (18,220) - - -
Other Adjustments (75,395) 106,456 - -
Ending Balance 106,029,705 87,888,390 370,048 338,984
GOVERNMENT EQUITY
Beginning balance 2,893,407 2,893,407 - -
Add/(Deduct):
Ending Balance 2,893,407 2,893,407 - -
CONTRIBUTED CAPITAL
Changes in Equity for the Year 18,214 473,268 - -
Add/(Deduct):
Government - 373,880 - -
Other Adjustments 18,214 99,389 - -
Ending Balance 9,740,548 9,722,334 - -
REVALUATION SURPLUS
Add/(Deduct):
the Year - - - -
Add/(Deduct):

Add/(Deduct):
Dividends - - - -
STOCKHOLDERS' EQUITY - - - -

663
(in thousand pesos)
NHA OSHC
2017 2016 2017 2016

Add/(Deduct):
Government - - - -

Add/(Deduct):
the Year - - - -

OF INVESTMENTS
Add/(Deduct):

Add/(Deduct):
securities - - - -
MEMBERS' EQUITY
Add/(Deduct):

Add/(Deduct):
Member's Contribution - - - -
Dividends - - - -
Total Equity 118,663,659 100,504,131 370,048 338,984
664
(in thousand pesos)
Total GBE APO

2017 2016 2017 2016 2017 2016
GOVERNMENT EQUITY 199,415,045 231,702,784 20,689,685 20,446,347 - -
Adjustments: - 2,885,402 - - - -
Add/(Deduct):
Prior Period Errors - 3,300,816 - - - -
Changes in Equity for the Year (18,411,089) (75,305,295) - - - -

Add/(Deduct):
Surplus/(Deficit) for the period 987,062 (8,783,774) - - - -
Dividends (2,028,694) (118,136) - - - -
Other Adjustments (17,369,458) (66,403,385) - - - -
Ending Balance 178,515,785 196,926,875 - - - -
GOVERNMENT EQUITY
Adjustments: - 303,246 - 27,946 - -
Add/(Deduct):
Prior Period Errors - 13,982 - 13,982 - -
Changes in Equity for the Year (14,042,529) 1,049,959 146,503 71,859 - -

Add/(Deduct):
Government 48,471 1,005,141 48,334 27,042 - -
Other Adjustments (14,091,000) 44,818 98,169 44,818 - -
Ending Balance 11,507,823 25,550,352 15,542,319 15,395,816 - -
CONTRIBUTED CAPITAL
Adjustments: - (5,021) - (5,021) - -
Add/(Deduct):
Prior Period Errors - (288) - (288) - -
Changes in Equity for the Year 165,879 (42,010) 96,835 (42,010) - -

Add/(Deduct):
Government 50,241 9,554 50,241 9,554 - -
Other Adjustments 115,638 (51,564) 46,595 (51,564) - -
Ending Balance 9,391,437 9,225,558 5,147,366 5,050,531 - -
REVALUATION SURPLUS
Adjustments: - (29,527) - - - -
Add/(Deduct):
Restated Balance 124,612,848 135,022,528 83,433,898 83,440,656 2,908 2,908
Changes in Equity for the Year (4,537,319) (10,409,680) 6,217,358 (6,758) - -

Add/(Deduct):
Other Adjustments (4,537,319) (10,409,680) 6,217,358 (6,758) - -
Ending Balance 120,075,529 124,612,848 89,651,257 83,433,898 2,908 2,908
665
(in thousand pesos)
Total GBE APO

2017 2016 2017 2016 2017 2016
Adjustments: - (179,048) - (179,048) - (25,266)

Add/(Deduct):
Changes in Accounting Policy - (93,438) - (93,438) - -
Prior Period Errors - (28,099) - (28,099) - -
Add/(Deduct):
Issuances of Share Capital - 2,500 - 2,500 - -
Dividends (2,999,578) (3,682,678) (2,999,578) (3,682,678) (29,604) -
Other Adjustments (56,328) 425,821 (56,328) 425,821 (13,469) -
Ending Balance 114,986,102 106,270,089 114,986,102 106,270,089 187,805 87,308
SHARE CAPITAL
Ending Balance 46,483,077 46,483,077 5,132,895 5,132,895 - -
SHARE PREMIUM
Ending Balance 24,773 24,773 24,773 24,773 - -

Beginning balance 10 10 10 10 - -
Ending Balance 10 10 10 10 - -
TREASURY SHARES
Beginning balance (735) (735) (735) (735) - -
Ending Balance (735) (735) (735) (735) - -

Add/(Deduct):
Ending Balance 1,150,963 1,150,963 89,308 89,308 - -

Beginning balance 13,341 - 13,341 - - -
Add/(Deduct):
Other Adjustments (14,561) 13,341 (14,561) 13,341 - -
Ending Balance (1,220) 13,341 (1,220) 13,341 - -

OF INVESTMENTS
Add/(Deduct):
securities 3,290 3,195 3,290 3,195 - -
Ending Balance 40,388,525 40,385,193 17,489 14,157 - -
Total Equity 522,522,070 550,642,344 230,589,564 215,424,084 190,713 90,216
666
(in thousand pesos)

2017 2016 2017 2016 2017 2016
Add/(Deduct):

Add/(Deduct):
GOVERNMENT EQUITY
Add/(Deduct):

Add/(Deduct):
Ending Balance 4,159,926 4,159,926 - - - -
CONTRIBUTED CAPITAL
Add/(Deduct):
Restated Balance - - 3,114,596 3,114,596 - -

Add/(Deduct):
Ending Balance - - 3,114,596 3,114,596 - -
9,295,927
REVALUATION SURPLUS -
Add/(Deduct):
Changes in Equity for the Year - - (114,487) - - -

Add/(Deduct):
Other Adjustments - - (114,487) - - -
Ending Balance - - 9,181,439 9,295,927 707,688 707,688
RETAINED EARNINGS/(DEFICIT) 33,470,168

667
(in thousand pesos)

2017 2016 2017 2016 2017 2016
Add/(Deduct):
Add/(Deduct):
Dividends (344,996) (294,255) (148,028) (505,239) - (4,000)
Other Adjustments (7,052) (16,376) 36,903 (1,052) 2,348 4,462
Ending Balance 2,182,931 1,849,529 24,815,844 24,637,738 215,059 164,671
STOCKHOLDERS' EQUITY - - - - 2,400,000 2,400,000
SHARE CAPITAL
Ending Balance - - - - 2,400,000 2,400,000
SHARE PREMIUM

TREASURY SHARES

Add/(Deduct):

Add/(Deduct):
CUMULATIVE CHANGES IN FAIR VALUE (1,051)

OF INVESTMENTS -
Beginning balance - - (1,006) (1,051) - -
Changes in Equity for the Year - - 140 45 - -
Add/(Deduct):
securities - - 140 45 - -
Ending Balance - - (866) (1,006) - -
Total Equity 6,342,857 6,009,455 37,111,013 37,047,254 3,322,746 3,272,359
668
(in thousand pesos)

2017 2016 2017 2016 2017 2016
Add/(Deduct):

Add/(Deduct):
GOVERNMENT EQUITY
Add/(Deduct):

Add/(Deduct):
CONTRIBUTED CAPITAL
Add/(Deduct):

Add/(Deduct):
REVALUATION SURPLUS
Add/(Deduct):
Restated Balance 152,576 152,576 - - 252,215 252,215

Add/(Deduct):
Ending Balance 152,576 152,576 - - 252,215 252,215
Beginning balance 401,200 386,296 10,773,701 10,490,149 325,549 376,055
669
(in thousand pesos)

2017 2016 2017 2016 2017 2016
Add/(Deduct):
Restated Balance 401,200 386,296 10,773,701 10,490,149 325,549 376,055
Changes in Equity for the Year 43,115 14,904 589,217 283,553 (48,224) (50,506)
Add/(Deduct):
Net Income/Loss for the Year 31,973 30,480 1,109,738 1,004,274 (48,193) (50,758)
Dividends - - (520,521) (720,722) - -
Other Adjustments 11,141 (15,576) - - (31) 252
Ending Balance 444,314 401,200 11,362,918 10,773,701 277,325 325,549
STOCKHOLDERS' EQUITY 72,301 72,301 2,113,251 2,113,251 374,972 374,972
SHARE CAPITAL
Ending Balance 69,943 69,943 2,002,253 2,002,253 374,972 374,972
SHARE PREMIUM
Ending Balance 2,348 2,348 22,425 22,425 - -

Beginning balance 10 10 - - - -
Ending Balance 10 10 - - - -
TREASURY SHARES
Beginning balance - - (735) (735) - -
Ending Balance - - (735) (735) - -

Add/(Deduct):
Ending Balance - - 89,308 89,308 - -

Beginning balance - - 13,341 - - -
Changes in Equity for the Year - - (14,561) 13,341 - -
Add/(Deduct):
Other Adjustments - - (14,561) 13,341 - -
Ending Balance - - (1,220) 13,341 - -

OF INVESTMENTS
Beginning balance - - (232) - - -
Changes in Equity for the Year - - 42 (232) - -
Add/(Deduct):
Other Adjustments - - 42 (232) - -
Ending Balance - - (190) (232) - -
Total Equity 669,191 626,076 13,474,760 12,900,062 904,513 952,737
670
(in thousand pesos)

2017 2016 2017 2016 2017 2016
Add/(Deduct):

Add/(Deduct):
GOVERNMENT EQUITY
Add/(Deduct):
Changes in Equity for the Year - - 67,585 - - -

Add/(Deduct):
Ending Balance - - 6,446,574 6,378,988 - -
CONTRIBUTED CAPITAL
Add/(Deduct):

Add/(Deduct):
REVALUATION SURPLUS
Add/(Deduct):
Changes in Equity for the Year - - 6,239,228 (27) - -

Add/(Deduct):
Other Adjustments - - 6,239,228 (27) - -
Ending Balance - - 78,786,879 72,547,652 255,220 255,220
Beginning balance (1,241,123) (1,223,668) 32,940,500 29,512,470 (58,436) (58,467)
671
(in thousand pesos)

2017 2016 2017 2016 2017 2016
Add/(Deduct):
Restated Balance (1,241,123) (1,223,668) 32,940,500 29,512,470 (58,436) (58,467)
Changes in Equity for the Year (298,587) (17,455) 2,914,827 3,428,030 15,585 31
Add/(Deduct):
Net Income/Loss for the Year (315,074) (17,455) 4,473,463 4,698,697 15,339 19
Dividends - - (1,956,429) (2,158,463) - -
Other Adjustments 16,487 - 397,793 887,796 246 12
Ending Balance (1,539,710) (1,241,123) 35,855,327 32,940,500 (42,851) (58,436)
STOCKHOLDERS' EQUITY 190,000 190,000 - - 95,727 95,727
SHARE CAPITAL
Ending Balance 190,000 190,000 - - 95,727 95,727
SHARE PREMIUM

TREASURY SHARES

Add/(Deduct):

Add/(Deduct):

OF INVESTMENTS
Changes in Equity for the Year 3,150 3,150 - - - -
Add/(Deduct):
securities 3,150 3,150 - - - -
Ending Balance 18,545 15,395 - - - -
Total Equity (1,331,165) (1,035,728) 121,088,780 111,867,140 308,097 292,512
672
(in thousand pesos)

2017 2016 2017 2016 2017 2016
GOVERNMENT EQUITY 6,968,590 6,792,837 178,725,361 211,256,438 (34,087) 3,183,681
Beginning balance - - 196,926,875 269,346,768 (18,466,987) (16,537,712)
Adjustments: - - - 2,885,402 - -
Add/(Deduct):
Prior Period Errors - - - 3,300,816 - -
Restated Balance - - 196,926,875 272,232,170 (18,466,987) (16,537,712)
Changes in Equity for the Year - - (18,411,089) (75,305,295) (3,217,906) (1,929,275)

Add/(Deduct):
Surplus/(Deficit) for the period - - 987,062 (8,783,774) (2,707,363) (1,675,906)
Dividends - - (2,028,694) (118,136) - -
Other Adjustments - - (17,369,458) (66,403,385) (510,542) (253,370)
Ending Balance - - 178,515,785 196,926,875 (21,684,893) (18,466,987)
GOVERNMENT EQUITY
Adjustments: - 27,946 - 275,300 - -
Add/(Deduct):
Changes in Equity for the Year 78,917 71,859 (14,189,031) 978,100 138 978,100
Add/(Deduct):
Government 48,334 27,042 138 978,100 138 978,100
Other Adjustments 30,584 44,818 (14,189,169) - - -
Ending Balance 4,935,819 4,856,902 (4,034,496) 10,154,536 21,615,449 21,615,311
CONTRIBUTED CAPITAL
Adjustments: - (5,021) - - - -
Add/(Deduct):
Changes in Equity for the Year 96,835 (42,010) 69,043 - - -

Add/(Deduct):
Government 50,241 9,554 - - - -
Other Adjustments 46,595 (51,564) 69,043 - - -
Ending Balance 2,032,770 1,935,935 4,244,071 4,175,027 35,357 35,357
REVALUATION SURPLUS
Beginning balance 219,713 226,444 41,178,949 51,611,398 - -
Adjustments: - - - (29,527) - -
Add/(Deduct):
Restated Balance 219,713 226,444 41,178,949 51,581,871 - -
Changes in Equity for the Year 92,618 (6,731) (10,754,677) (10,402,922) - -

Add/(Deduct):
Other Adjustments 92,618 (6,731) (10,754,677) (10,402,922) - -
Ending Balance 312,331 219,713 30,424,272 41,178,949 - -
673
(in thousand pesos)

2017 2016 2017 2016 2017 2016
Adjustments: - (153,782) - - - -
Add/(Deduct):
Prior Period Errors - (28,099) - - - -

Add/(Deduct):
Net Income/Loss for the Year 5,338,380 5,831,073 - - - -
Other Adjustments (500,694) (433,698) - - - -
Ending Balance 41,227,138 36,389,452 - - - -
SHARE CAPITAL
Ending Balance - - 41,350,183 41,350,183 - -
SHARE PREMIUM

TREASURY SHARES

Add/(Deduct):
Other Adjustments - - - 827 - -
Ending Balance - - 1,061,655 1,061,655 - -

Add/(Deduct):

OF INVESTMENTS
Add/(Deduct):
Ending Balance - - 40,371,036 40,371,036 - -
Total Equity 48,508,059 43,402,002 291,932,506 335,218,260 (34,087) 3,183,681
674
(in thousand pesos)
LWUA MWSS NEA

2017 2016 2017 2016 2017 2016
(Restated)
GOVERNMENT EQUITY 7,924,415 8,058,938 9,663,509 9,431,656 (9,507,914) (9,767,282)
Beginning balance 1,597,732 1,885,917 9,431,656 8,965,943 (9,944,842) 96,300
Adjustments: - - - (29) - (10,032,399)
Add/(Deduct):
Prior Period Errors - - - (29) - (10,032,399)
Restated Balance 1,597,732 1,885,917 9,431,656 8,965,913 (9,944,842) (9,936,099)
Changes in Equity for the Year (203,567) (288,185) 231,852 465,743 259,367 (8,743)
Add/(Deduct):
Surplus/(Deficit) for the period (233,205) (285,223) 797,999 465,743 152,648 109,392
Dividends - - (559,768) - (69,989) (118,136)
Other Adjustments 29,639 (2,962) (6,379) - 176,708 -
Ending Balance 1,394,165 1,597,732 9,663,509 9,431,656 (9,685,475) (9,944,842)
GOVERNMENT EQUITY
Add/(Deduct):

Add/(Deduct):
Ending Balance 2,500,000 2,500,000 - - - -
CONTRIBUTED CAPITAL
Beginning balance 3,961,206 3,961,206 - - 177,561 177,561
Add/(Deduct):
Restated Balance 3,961,206 3,961,206 - - 177,561 177,561

Add/(Deduct):
Other Adjustments 69,043 - - - - -
Ending Balance 4,030,250 3,961,206 - - 177,561 177,561
REVALUATION SURPLUS
Add/(Deduct):
Changes in Equity for the Year - - - (7,954,986) - -

Add/(Deduct):
Other Adjustments - - - (7,954,986) - -
Ending Balance - - 28,427,904 28,427,904 - -
675
(in thousand pesos)
LWUA MWSS NEA

2017 2016 2017 2016 2017 2016
(Restated)
Add/(Deduct):

Add/(Deduct):
Net Income/Loss for the Year - - - - - -
STOCKHOLDERS' EQUITY - - 7,142,458 7,142,458 4,772,564 4,772,564
SHARE CAPITAL
Beginning balance - - 6,095,487 6,095,487 4,772,564 4,772,564
Ending Balance - - 6,095,487 6,095,487 4,772,564 4,772,564
SHARE PREMIUM

TREASURY SHARES

Add/(Deduct):
Ending Balance - - 1,046,971 1,046,971 - -

Add/(Deduct):

OF INVESTMENTS
Add/(Deduct):
Total Equity 7,924,415 8,058,938 45,233,870 45,002,018 (4,735,350) (4,994,718)
676
(in thousand pesos)
NPC PNR PPC

2017 2016 2017 2016 2017 2016
GOVERNMENT EQUITY 2,828,644 3,359,728 (15,911,873) (15,140,399) (123,073) (160,240)
Beginning balance 3,359,728 5,072,491 (16,641,303) (17,175,248) (160,457) (500,647)
Adjustments: - (440,679) - 699,595 - 25,265
Add/(Deduct):
Prior Period Errors - - - 699,595 - -
Other Adjustments - (440,679) - - - 25,265
Restated Balance 3,359,728 4,631,812 (16,641,303) (16,475,653) (160,457) (475,381)
Changes in Equity for the Year (531,085) (1,272,084) (771,474) (165,650) 37,185 314,924
Add/(Deduct):
Surplus/(Deficit) for the period 2,212,211 1,646,855 (763,823) (165,650) 574,295 314,924
Dividends (1,398,936) - - - - -
Other Adjustments (1,344,359) (2,918,938) (7,651) - (537,111) -
Ending Balance 2,828,644 3,359,728 (17,412,777) (16,641,303) (123,273) (160,457)
GOVERNMENT EQUITY
Beginning balance - - 1,500,000 1,500,000 217 217
Add/(Deduct):
Restated Balance - - 1,500,000 1,500,000 217 217
Changes in Equity for the Year - - - - (17) -

Add/(Deduct):
Other Adjustments - - - - (17) -
Ending Balance - - 1,500,000 1,500,000 200 217
CONTRIBUTED CAPITAL
Beginning balance - - 903 903 - -
Add/(Deduct):
Restated Balance - - 903 903 - -

Add/(Deduct):
Ending Balance - - 903 903 - -
(2,192,731)
REVALUATION SURPLUS 2,122,163 2,192,731
Add/(Deduct):
Changes in Equity for the Year - - - - - (27,757)

Add/(Deduct):
Other Adjustments - - - - - (27,757)
Ending Balance - - - - 1,996,369 1,996,369
677
(in thousand pesos)
NPC PNR PPC

2017 2016 2017 2016 2017 2016
Add/(Deduct):

Add/(Deduct):
STOCKHOLDERS' EQUITY 27,063,554 27,063,554 - - 3,433,261 3,433,261
SHARE CAPITAL
Ending Balance 27,048,871 27,048,871 - - 3,433,261 3,433,261
SHARE PREMIUM

TREASURY SHARES

Add/(Deduct):
Ending Balance 14,684 14,684 - - - -

Add/(Deduct):

OF INVESTMENTS
Add/(Deduct):
Ending Balance - - 40,371,036 40,371,036 - -
Total Equity 29,892,198 30,423,283 24,459,163 25,230,637 5,306,557 5,269,389
678
(in thousand pesos)
PSALM TRANSCO
2017 2016 2017 2016
GOVERNMENT EQUITY 31,801,630 59,211,222 152,084,111 153,079,133
Beginning balance 74,672,214 86,622,610 153,079,133 200,917,112
Adjustments: - 485,237 - 12,148,413
Add/(Deduct):
Prior Period Errors - 485,237 - 12,148,413
Restated Balance 74,672,214 87,107,847 153,079,133 213,065,525
Changes in Equity for the Year (13,220,440) (12,435,633) (995,023) (59,986,392)

Add/(Deduct):
Surplus/(Deficit) for the period (4,269,446) (14,855,813) 5,223,746 5,661,903
Dividends - - - -
Other Adjustments (8,950,993) 2,420,180 (6,218,769) (65,648,295)
Ending Balance 61,451,774 74,672,214 152,084,111 153,079,133
77,299,990
GOVERNMENT EQUITY (2,627,776)
Beginning balance (15,460,992) (15,736,292) - -
Adjustments: - 275,300 - -
Add/(Deduct):
Other Adjustments - 275,300 - -
Restated Balance (15,460,992) (15,460,992) - -
Changes in Equity for the Year (14,189,152) - - -

Add/(Deduct):
Government - - - -
Other Adjustments (14,189,152) - - -
Ending Balance (29,650,144) (15,460,992) - -
CONTRIBUTED CAPITAL
Add/(Deduct):

Add/(Deduct):
Government - - - -
REVALUATION SURPLUS
Adjustments: - (29,527) - -
Add/(Deduct):
Other Adjustments - (29,527) - -
Restated Balance 10,754,677 13,174,857 - -
Changes in Equity for the Year (10,754,677) (2,420,180) - -

Add/(Deduct):
Other Adjustments (10,754,677) (2,420,180) - -
Ending Balance - 10,754,677 - -
679
(in thousand pesos)
PSALM TRANSCO
2017 2016 2017 2016
Add/(Deduct):

Add/(Deduct):
Issuances of Share Capital - - - -
Dividends - - - -
STOCKHOLDERS' EQUITY - - - -
SHARE CAPITAL
SHARE PREMIUM

TREASURY SHARES

Add/(Deduct):

Add/(Deduct):

OF INVESTMENTS
Add/(Deduct):
securities - - - -
Total Equity 31,801,630 69,965,899 152,084,111 153,079,133
680
(in thousand pesos)
Total GBE AFAB (Region 3)

2017 2016 2017 2016 2017 2016
GOVERNMENT EQUITY 102,239,488 99,770,347 84,006,419 83,494,125 1,461,393 1,363,811
Adjustments: - 113,021 - - - -
Add/(Deduct):

Add/(Deduct):
Dividends (41,836) (16,809) - - - -
Ending Balance 17,035,462 15,140,162 - - - -
GOVERNMENT EQUITY
Adjustments: - (62) - - - -
Add/(Deduct):

Add/(Deduct):
Government 116,761 179,137 50,949 49,847 - -
Ending Balance 12,744,885 12,632,390 11,547,279 11,496,330 - -
CONTRIBUTED CAPITAL
Add/(Deduct):
Government 97,582 93,335 97,582 93,335 97,582 93,335
Other Adjustments 363,764 - 363,764 - - -
Ending Balance 72,459,141 71,997,795 72,459,140 71,997,794 1,461,393 1,363,811
REVALUATION SURPLUS
Adjustments: - (2,895) - (2,895) - -
Add/(Deduct):
Changes in Equity for the Year 5,269,433 - 5,269,433 - - -

Add/(Deduct):
the Year (74,872) - (74,872) - - -
Other Adjustments 5,344,304 - 5,344,304 - - -
Ending Balance 6,081,927 812,494 6,081,927 812,494 - -
Adjustments: - (14,654,533) - (14,654,533) - (1,873)
Add/(Deduct):
Prior Period Errors - 989,108 - 989,108 - -
Other Adjustments - (15,641,769) - (15,641,769) - -
681
(in thousand pesos)

2017 2016 2017 2016 2017 2016
Add/(Deduct):
Dividends (8,792,880) (11,839,921) (8,792,880) (11,839,921) (29,111) (25,810)
Other Adjustments (398,154) 2,134,633 (398,154) 2,134,633 (677) (1,878)
Ending Balance 62,720,359 56,562,183 62,720,359 56,562,183 165,315 43,639
SHARE CAPITAL
Changes in Equity for the Year 24,632,048 151,241 24,632,048 151,241 - -
Add/(Deduct):
Issuances of Share Capital - 263,814 - 263,814 - -
Other Adjustments 24,632,048 (112,573) 24,632,048 (112,573) - -
Ending Balance 172,536,474 147,904,426 172,515,668 147,883,619 - -
SHARE PREMIUM
Changes in Equity for the Year - 0 - 0 - -
Add/(Deduct):
Issuances of Share Capital - 0 - 0 - -
Ending Balance 46,138 46,138 46,138 46,138 - -

Beginning balance 306,477 362,636 (56,159) - - -
Changes in Equity for the Year 2 (56,159) - (56,159) - -
Add/(Deduct):
Other Adjustments 2 (56,159) - (56,159) - -
Ending Balance 306,479 306,477 (56,159) (56,159) - -
TREASURY SHARES
Beginning balance (16,700) (16,700) (16,700) (16,700) - -
Ending Balance (16,700) (16,700) (16,700) (16,700) - -

Ending Balance 5,566,726 5,566,726 5,566,726 5,566,726 - -
Total Equity 349,480,891 310,952,091 330,864,377 294,292,425 1,626,708 1,407,450
682
(in thousand pesos)

2017 2016 2017 2016 2017 2016
(Restated)
Add/(Deduct):

Add/(Deduct):
GOVERNMENT EQUITY
Add/(Deduct):

Add/(Deduct):
CONTRIBUTED CAPITAL
Add/(Deduct):
REVALUATION SURPLUS
Add/(Deduct):
Changes in Equity for the Year 5,505,449 - - - - -

Add/(Deduct):
the Year - - - - - -
Other Adjustments 5,505,449 - - - - -
Ending Balance 5,505,449 - - - - -
Beginning balance 14,994,413 15,572,882 8,939 56,842 922,627 1,029,696
Add/(Deduct):
Restated Balance 14,994,413 15,572,882 8,939 56,842 922,627 1,029,696
683
(in thousand pesos)

2017 2016 2017 2016 2017 2016
(Restated)
Changes in Equity for the Year 803,563 (578,470) 2,517 (47,903) 464,350 (107,070)
Add/(Deduct):
Net Income/Loss for the Year 1,043,176 (490,188) 2,517 (47,903) 1,032,603 783,160
Dividends (130,025) (88,282) - - (500,000) (700,000)
Other Adjustments (109,589) - - - (68,254) (190,229)
Ending Balance 15,797,976 14,994,413 11,456 8,939 1,386,976 922,627
STOCKHOLDERS' EQUITY 100,000,000 75,327,952 280,000 280,000 2,813,507 2,813,507
SHARE CAPITAL
Changes in Equity for the Year 24,672,048 17,427 - - - -
Add/(Deduct):
Other Adjustments 24,672,048 17,427 - - - -
Ending Balance 100,000,000 75,327,952 280,000 280,000 2,813,507 2,813,507
SHARE PREMIUM
Add/(Deduct):

Add/(Deduct):
TREASURY SHARES

Total Equity 121,303,425 90,322,364 291,456 288,939 4,200,484 3,736,134
684
(in thousand pesos)

2017 2016 2017 2016 2017 2016
GOVERNMENT EQUITY 1,190,663 832,248 - - - -
Add/(Deduct):

Add/(Deduct):
GOVERNMENT EQUITY
Add/(Deduct):

Add/(Deduct):
CONTRIBUTED CAPITAL
Add/(Deduct):
Ending Balance 1,190,663 832,248 - - - -
REVALUATION SURPLUS
Add/(Deduct):

Add/(Deduct):
the Year - - - - - -
Beginning balance (783,820) (856,543) (225,331) (238,654) (1,025,511) (766,714)
Add/(Deduct):
Restated Balance (783,820) (856,543) (225,331) (238,654) (1,025,511) (766,714)
685
(in thousand pesos)

2017 2016 2017 2016 2017 2016
Changes in Equity for the Year 197,499 72,723 21,706 13,322 (411,293) (258,797)
Add/(Deduct):
Net Income/Loss for the Year 177,175 77,404 15,253 11,189 (391,760) (176,350)
Other Adjustments 20,324 (4,681) 6,453 2,134 (19,534) (82,447)
Ending Balance (586,320) (783,820) (203,625) (225,331) (1,436,804) (1,025,511)
SHARE CAPITAL
Add/(Deduct):
Issuances of Share Capital - - - 263,814 - -
Ending Balance 1,250 1,250 383,814 383,814 100,000 100,000
SHARE PREMIUM
Beginning balance - - 0 - - -
Add/(Deduct):
Issuances of Share Capital - - - 0 - -
Ending Balance - - 0 0 - -

Add/(Deduct):
TREASURY SHARES

Total Equity 605,593 49,679 180,189 158,483 (1,336,804) (925,511)
686
(in thousand pesos)

2017 2016 2017 2016 2017 2016
(Restated)
Add/(Deduct):

Add/(Deduct):
GOVERNMENT EQUITY
Add/(Deduct):

Add/(Deduct):
CONTRIBUTED CAPITAL
Add/(Deduct):
Ending Balance - - 36,512,107 36,512,107 - -
REVALUATION SURPLUS
Add/(Deduct):

Add/(Deduct):
the Year - - - - - -
Beginning balance (411) (9,448) (7,779,137) 10,714,219 969,044 743,038
Adjustments: - - - (15,641,720) - -
Add/(Deduct):
Other Adjustments - - - (15,641,720) - -
Restated Balance (411) (9,448) (7,779,137) (4,927,500) 969,044 743,038
687
(in thousand pesos)

2017 2016 2017 2016 2017 2016
(Restated)
Changes in Equity for the Year 7,014 9,037 (734,093) (2,851,637) (135,198) 226,006
Add/(Deduct):
Net Income/Loss for the Year 11,535 10,077 1,220,376 1,134,157 (64,925) 518,361
Dividends - - (2,080,156) (4,272,266) - (292,355)
Other Adjustments (4,520) (1,040) 125,688 286,471 (70,273) -
Ending Balance 6,603 (411) (8,513,230) (7,779,137) 833,845 969,044
STOCKHOLDERS' EQUITY 83,144 83,144 50,000,000 50,000,000 5,755,142 5,755,142
SHARE CAPITAL
Beginning balance 68,144 68,144 50,000,000 50,000,000 5,755,142 5,755,142
Add/(Deduct):
Ending Balance 68,144 68,144 50,000,000 50,000,000 5,755,142 5,755,142
SHARE PREMIUM
Add/(Deduct):

Add/(Deduct):
TREASURY SHARES

Ending Balance 15,000 15,000 - - - -
Total Equity 89,747 82,733 77,998,878 78,732,970 6,588,987 6,724,185
688
(in thousand pesos)

2017 2016 2017 2016 2017 2016
(Restated)
GOVERNMENT EQUITY - - 2,895,736 2,895,736 15,461,553 15,461,553
Add/(Deduct):

Add/(Deduct):
GOVERNMENT EQUITY
Add/(Deduct):

Add/(Deduct):
Ending Balance - - - - 7,191,934 7,191,934
CONTRIBUTED CAPITAL
Add/(Deduct):
Ending Balance - - 2,895,736 2,895,736 8,269,619 8,269,619
REVALUATION SURPLUS
Add/(Deduct):

Add/(Deduct):
the Year - - - - - -
Beginning balance (366) (533) 7,511,587 12,063,349 27,526,723 16,325,498
Add/(Deduct):
Restated Balance (366) (533) 7,511,587 12,063,349 27,526,723 16,325,498
689
(in thousand pesos)

2017 2016 2017 2016 2017 2016
(Restated)
Changes in Equity for the Year 194 167 31,392 (4,551,763) 1,180,582 11,201,226
Add/(Deduct):
Net Income/Loss for the Year 194 167 441,353 454,915 3,699,827 11,201,226
Dividends - - (391,080) (5,062,131) (2,318,326) -
Other Adjustments - - (18,881) 55,453 (200,920) -
Ending Balance (171) (366) 7,542,978 7,511,587 28,707,306 27,526,723
STOCKHOLDERS' EQUITY 40,000 40,000 1,724,121 1,724,121 - -
SHARE CAPITAL
Add/(Deduct):
Ending Balance 40,000 40,000 1,724,121 1,724,121 - -
SHARE PREMIUM
Add/(Deduct):

Add/(Deduct):
TREASURY SHARES

Total Equity 39,829 39,634 12,162,836 12,131,444 44,168,858 42,988,276
690
(in thousand pesos)
MRHI NDC BLCI

2017 2016 2017 2016 2017 2016
(Restated)
GOVERNMENT EQUITY 7,233 7,526 - - - -
Add/(Deduct):

Add/(Deduct):
GOVERNMENT EQUITY
Add/(Deduct):

Add/(Deduct):
CONTRIBUTED CAPITAL
Changes in Equity for the Year (293) - - - - -
Add/(Deduct):
Other Adjustments (293) - - - - -
Ending Balance 7,233 7,526 - - - -
REVALUATION SURPLUS
Add/(Deduct):

Add/(Deduct):
the Year - - - - - -
Ending Balance 22,050 22,050 28,883 28,883 - -
Beginning balance 10,494 8,837 1,627,589 (1,804,678) 8,723 37,983
Adjustments: - (49) - (1,219,059) - -
Add/(Deduct):
Prior Period Errors - - - (1,219,059) - -
Restated Balance 10,494 8,788 1,627,589 (3,023,737) 8,723 37,983
691
(in thousand pesos)
MRHI NDC BLCI

2017 2016 2017 2016 2017 2016
(Restated)
Changes in Equity for the Year 258 1,706 2,129,621 4,651,326 (306) (29,260)
Add/(Deduct):
Net Income/Loss for the Year 318 1,706 2,359,075 2,529,865 8,417 8,723
Dividends - - (421,309) (48,567) (8,723) (37,983)
Other Adjustments (61) - 191,854 2,170,028 - -
Ending Balance 10,751 10,494 3,757,210 1,627,589 8,417 8,723
STOCKHOLDERS' EQUITY - - 8,602,803 8,602,803 36,623 36,623
SHARE CAPITAL
Add/(Deduct):
Ending Balance - - 8,602,803 8,602,803 36,623 36,623
SHARE PREMIUM
Add/(Deduct):

Add/(Deduct):
TREASURY SHARES

Total Equity 40,034 40,069 12,388,897 10,259,276 45,040 45,346
692
(in thousand pesos)
FCIEI GYREI IIGSI

2017 2016 2017 2016 2017 2016
Add/(Deduct):

Add/(Deduct):
GOVERNMENT EQUITY
Add/(Deduct):

Add/(Deduct):
CONTRIBUTED CAPITAL
Add/(Deduct):
REVALUATION SURPLUS
Add/(Deduct):

Add/(Deduct):
the Year - - - - - -
Ending Balance - - - - 18,407 18,407
Beginning balance (16,751) (15,825) 75,664 89,007 (79,688) (78,186)
Adjustments: - - - (6,759) - (1,165)
Add/(Deduct):
Prior Period Errors - - - (6,759) - (1,165)
Restated Balance (16,751) (15,825) 75,664 82,249 (79,688) (79,351)
693
(in thousand pesos)
FCIEI GYREI IIGSI

2017 2016 2017 2016 2017 2016
Changes in Equity for the Year (322) (926) (24,673) (6,584) (380) (337)
Add/(Deduct):
Net Income/Loss for the Year (322) (926) (6,607) (6,584) (380) (337)
Dividends - - (18,066) - - -
Ending Balance (17,073) (16,751) 50,992 75,664 (80,068) (79,688)
SHARE CAPITAL
Add/(Deduct):
Ending Balance 10,000 10,000 9,086 9,086 4,301 4,301
SHARE PREMIUM
Add/(Deduct):

Add/(Deduct):
TREASURY SHARES

Total Equity (7,073) (6,751) 60,078 84,751 (57,360) (56,980)
694
(in thousand pesos)
KRC MGC NPIC

2017 2016 2017 2016 2017 2016
Add/(Deduct):

Add/(Deduct):
GOVERNMENT EQUITY
Add/(Deduct):

Add/(Deduct):
CONTRIBUTED CAPITAL
Add/(Deduct):
REVALUATION SURPLUS
Add/(Deduct):
Restated Balance - - 158,375 158,375 - -

Add/(Deduct):
the Year - - - - - -
Ending Balance - - - 158,375 - -
Beginning balance 14,559 19,302 (12,817) (7,251) (29,392) (29,668)
Add/(Deduct):
Restated Balance 14,559 19,302 (12,817) (7,251) (29,392) (29,668)
695
(in thousand pesos)
KRC MGC NPIC

2017 2016 2017 2016 2017 2016
Changes in Equity for the Year 22,462 (4,743) 61,742 (5,567) 270 276
Add/(Deduct):
Net Income/Loss for the Year 26,421 7,261 (96,386) (5,567) 270 276
Dividends (3,959) (12,004) - - - -
Ending Balance 37,021 14,559 48,925 (12,817) (29,122) (29,392)
SHARE CAPITAL
Add/(Deduct):
Ending Balance 6,733 6,733 80,000 120,000 80,000 80,000
SHARE PREMIUM
Add/(Deduct):

Add/(Deduct):
TREASURY SHARES

Total Equity 43,753 21,291 128,925 265,558 50,878 50,608
696
(in thousand pesos)

2017 2016 2017 2016 2017 2016
GOVERNMENT EQUITY - - 2,136,008 2,136,008 200,000 200,000
Add/(Deduct):

Add/(Deduct):
GOVERNMENT EQUITY
Add/(Deduct):

Add/(Deduct):
Ending Balance - - - - 200,000 200,000
CONTRIBUTED CAPITAL
Add/(Deduct):
Ending Balance - - 2,136,008 2,136,008 - -
REVALUATION SURPLUS
Add/(Deduct):

Add/(Deduct):
the Year - - - - - -
Beginning balance 2,204 1,491 3,906,533 3,216,261 1,157,989 1,028,827
Adjustments: - 749 - - - -
Add/(Deduct):
Prior Period Errors - 749 - - - -
Restated Balance 2,204 2,240 3,906,533 3,216,261 1,157,989 1,028,827
697
(in thousand pesos)

2017 2016 2017 2016 2017 2016
Changes in Equity for the Year (120) (36) 668,702 690,272 (498,610) 129,162
Add/(Deduct):
Net Income/Loss for the Year 1,026 1,092 1,296,043 1,212,049 265,392 258,325
Dividends (1,147) (1,128) (622,914) (521,777) (138,744) (129,162)
Other Adjustments - - (4,428) - (625,258) -
Ending Balance 2,084 2,204 4,575,235 3,906,533 659,379 1,157,989
SHARE CAPITAL
Add/(Deduct):
Ending Balance 2,252 2,252 - - - -
SHARE PREMIUM
Add/(Deduct):

Add/(Deduct):
TREASURY SHARES

Total Equity 4,336 4,456 6,711,242 6,042,541 859,379 1,357,989
698
(in thousand pesos)
PNCC ASDI CDCP-FC

2017 2016 2017 2016 2017 2016
(Restated)
Add/(Deduct):

Add/(Deduct):
GOVERNMENT EQUITY
Add/(Deduct):

Add/(Deduct):
CONTRIBUTED CAPITAL
Add/(Deduct):
REVALUATION SURPLUS
Adjustments: - (2,895) - - - -
Add/(Deduct):
Changes in Equity for the Year (79,329) - - - 1,688 -

Add/(Deduct):
the Year (76,559) - - - 1,688 -
Ending Balance 454,865 534,193 - - 20,506 18,818
Beginning balance (7,318,551) (8,231,079) 4,172 2,480 (47,145) (47,180)
Add/(Deduct):
Restated Balance (7,318,551) (8,231,079) 4,172 2,480 (47,145) (47,180)
699
(in thousand pesos)
PNCC ASDI CDCP-FC

2017 2016 2017 2016 2017 2016
(Restated)
Changes in Equity for the Year 2,879,282 912,528 (1,670) 1,692 (533) 35
Add/(Deduct):
Net Income/Loss for the Year 2,879,343 908,393 1,502 3,172 (533) 35
Dividends - - (3,172) (1,480) - -
Other Adjustments (60) 4,135 - - - -
Ending Balance (4,439,268) (7,318,551) 2,502 4,172 (47,677) (47,145)
STOCKHOLDERS' EQUITY 7,808,763 7,808,763 120,000 120,000 15,120 15,120
SHARE CAPITAL
Beginning balance 2,283,758 2,283,758 120,000 250,000 15,120 15,120
Changes in Equity for the Year - - - (130,000) - -
Add/(Deduct):
Ending Balance 2,283,758 2,283,758 120,000 120,000 15,120 15,120
SHARE PREMIUM
Add/(Deduct):
Ending Balance 46,137 46,137 - - - -

Beginning balance (56,159) - - - - -
Changes in Equity for the Year - (56,159) - - - -
Add/(Deduct):
Ending Balance (56,159) (56,159) - - - -
TREASURY SHARES
Beginning balance (16,700) (16,700) - - - -
Ending Balance (16,700) (16,700) - - - -

Ending Balance 5,551,726 5,551,726 - - - -
Total Equity 3,824,359 1,024,406 122,502 124,172 (12,052) (13,207)
700
(in thousand pesos)
DCBGSI PRecA PEATC

2017 2016 2017 2016 2017 2016
Add/(Deduct):

Add/(Deduct):
GOVERNMENT EQUITY
Add/(Deduct):

Add/(Deduct):
Ending Balance - - 3,248,276 3,248,276 - -
CONTRIBUTED CAPITAL
Add/(Deduct):
REVALUATION SURPLUS
Add/(Deduct):

Add/(Deduct):
the Year - - - - - -
Beginning balance (39,620) (76,293) 17,115,278 15,025,776 2,264 2,230
Adjustments: - (193) - 2,277,303 - -
Add/(Deduct):
Prior Period Errors - (193) - 2,277,303 - -
Restated Balance (39,620) (76,486) 17,115,278 17,303,079 2,264 2,230
701
(in thousand pesos)
DCBGSI PRecA PEATC

2017 2016 2017 2016 2017 2016
Changes in Equity for the Year (199) 36,866 (399,725) (187,802) 6 34

Add/(Deduct):
Net Income/Loss for the Year (199) 36,866 366,684 135,959 6 34
Dividends - - (766,409) (323,761) - -
Ending Balance (39,819) (39,620) 16,715,553 17,115,278 2,271 2,264
STOCKHOLDERS' EQUITY 97,014 97,014 - - 2,000 2,000
SHARE CAPITAL
Add/(Deduct):
Ending Balance 97,014 97,014 - - 2,000 2,000
SHARE PREMIUM
Add/(Deduct):

Add/(Deduct):
TREASURY SHARES

Total Equity 57,195 57,393 19,963,829 20,363,554 4,271 4,264
702
(in thousand pesos)

2017 2016 2017 2016 2017 2016
GOVERNMENT EQUITY 19,986,382 19,980,740 907,069 856,120 18,233,069 16,276,223
Adjustments: - - - - - 113,021
Add/(Deduct):
Prior Period Errors - - - - - 1,669
Changes in Equity for the Year - - - - 1,895,299 1,829,628

Add/(Deduct):
Surplus/(Deficit) for the period - - - - 1,979,294 1,827,379
Dividends - - - - (41,836) (16,809)
Other Adjustments - - - - (42,158) 19,058
Ending Balance - - - - 17,035,462 15,140,162
GOVERNMENT EQUITY
Beginning balance - - 856,120 806,273 1,136,059 1,006,831
Adjustments: - - - - - (62)
Add/(Deduct):
Prior Period Errors - - - - - (62)
Restated Balance - - 856,120 806,273 1,136,059 1,006,769
Changes in Equity for the Year - - 50,949 49,847 61,547 129,290

Add/(Deduct):
Government - - 50,949 49,847 65,811 129,290
Other Adjustments - - - - (4,265) -
Ending Balance - - 907,069 856,120 1,197,606 1,136,059
CONTRIBUTED CAPITAL
Beginning balance 19,980,740 19,980,740 - - 1 1
Add/(Deduct):
Ending Balance 19,986,382 19,980,740 - - 1 1
REVALUATION SURPLUS
Add/(Deduct):
Restated Balance 31,767 31,767 - - - -

Add/(Deduct):
the Year - - - - - -
Ending Balance 31,767 31,767 - - - -
Beginning balance (1,713,821) (1,967,109) (267,897) (192,956) - -
Adjustments: - - - (61,768) - -
Add/(Deduct):
Prior Period Errors - - - (61,768) - -
Restated Balance (1,713,821) (1,967,109) (267,897) (254,724) - -
703
(in thousand pesos)

2017 2016 2017 2016 2017 2016
Changes in Equity for the Year (230,044) 253,288 2,505 (13,173) - -

Add/(Deduct):
Net Income/Loss for the Year 907,877 679,816 2,470 (13,173) - -
Dividends (1,359,740) (323,215) - - - -
Other Adjustments 221,819 (103,313) 35 - - -
Ending Balance (1,943,865) (1,713,821) (265,392) (267,897) - -
STOCKHOLDERS' EQUITY - - - - 383,445 383,443
SHARE CAPITAL
Add/(Deduct):
Ending Balance - - - - 20,806 20,806
SHARE PREMIUM
Add/(Deduct):

Changes in Equity for the Year - - - - 2 -
Add/(Deduct):
Other Adjustments - - - - 2 -
Ending Balance - - - - 362,638 362,636
TREASURY SHARES

Total Equity 18,074,284 18,298,686 641,677 588,222 18,616,514 16,659,666
704
(in thousand pesos)

2017 2016 2017 2016 2017 2016
(Restated)
GOVERNMENT EQUITY 1,008,084 942,477 289,972 247,272 (665,152) (663,485)
Beginning balance (23,320) (32,633) 247,272 174,290 (711,513) (715,124)
Adjustments: - 945 - 598 - -
Add/(Deduct):
Prior Period Errors - 945 - 598 - -
Restated Balance (23,320) (31,687) 247,272 174,888 (711,513) (715,124)
Changes in Equity for the Year (205) 8,368 42,700 72,384 (1,666) 3,611
Add/(Deduct):
Surplus/(Deficit) for the period 384 8,368 84,537 89,193 2,336 9,339
Dividends - - (41,836) (16,809) - -
Other Adjustments (588) - - - (4,003) (5,728)
Ending Balance (23,524) (23,320) 289,972 247,272 (713,180) (711,513)
GOVERNMENT EQUITY
Add/(Deduct):

Add/(Deduct):
Government 65,811 129,290 - - - -
Ending Balance 1,031,608 965,797 - - 48,028 48,028
CONTRIBUTED CAPITAL
Add/(Deduct):
REVALUATION SURPLUS
Add/(Deduct):

Add/(Deduct):
the Year - - - - - -
Add/(Deduct):
705
(in thousand pesos)

2017 2016 2017 2016 2017 2016
(Restated)

Add/(Deduct):
STOCKHOLDERS' EQUITY - - 372,594 372,592 - -
SHARE CAPITAL
Add/(Deduct):
Ending Balance - - 9,956 9,956 - -
SHARE PREMIUM
Add/(Deduct):

Changes in Equity for the Year - - 2 - - -
Add/(Deduct):
Other Adjustments - - 2 - - -
Ending Balance - - 362,638 362,636 - -
TREASURY SHARES

Total Equity 1,008,084 942,477 662,567 619,864 (665,152) (663,485)
706
(in thousand pesos)

2017 2016 2017 2016 2017 2016
(Restated)
GOVERNMENT EQUITY 2,519 951 111,167 117,212 17,389,534 15,525,278
Beginning balance (1,295) - (2,777) - 15,525,278 13,657,584
Adjustments: - 126 - - - 111,352
Add/(Deduct):
Prior Period Errors - 126 - - - -
Restated Balance (1,295) 126 (2,777) - 15,525,278 13,768,936
Changes in Equity for the Year 1,569 (1,421) (1,780) (2,777) 1,864,257 1,756,341
Add/(Deduct):
Surplus/(Deficit) for the period 1,729 (1,421) (1,780) (2,777) 1,901,948 1,731,454
Other Adjustments (160) - - - (37,691) 24,887
Ending Balance 274 (1,295) (4,558) (2,777) 17,389,534 15,525,278
GOVERNMENT EQUITY
Adjustments: - - - (62) - -
Add/(Deduct):
Prior Period Errors - - - (62) - -

Add/(Deduct):
Ending Balance 2,245 2,245 115,725 119,990 - -
CONTRIBUTED CAPITAL
Add/(Deduct):
REVALUATION SURPLUS
Add/(Deduct):

Add/(Deduct):
the Year - - - - - -
Add/(Deduct):
707
(in thousand pesos)

2017 2016 2017 2016 2017 2016
(Restated)

Add/(Deduct):
SHARE CAPITAL
Add/(Deduct):
Ending Balance - - - - 10,850 10,850
SHARE PREMIUM
Add/(Deduct):

Add/(Deduct):
TREASURY SHARES

Total Equity 2,519 951 111,167 117,212 17,400,385 15,536,128
708
(in thousand pesos)
CFI
2017 2016
(Restated)
GOVERNMENT EQUITY 96,944 106,519
Adjustments: - -
Add/(Deduct):
Changes in Equity for the Year (9,575) (6,878)

Add/(Deduct):
Surplus/(Deficit) for the period (9,859) (6,777)
Dividends - -
Other Adjustments 284 (101)
GOVERNMENT EQUITY
Adjustments: - -
Add/(Deduct):

Add/(Deduct):
Government - -
Ending Balance - -
CONTRIBUTED CAPITAL
Beginning balance 1 1
Add/(Deduct):
Government - -
Ending Balance 1 1
REVALUATION SURPLUS
Adjustments: - -
Add/(Deduct):

Add/(Deduct):
the Year - -
Ending Balance - -
Adjustments: - -
Add/(Deduct):
709
(in thousand pesos)
CFI
2017 2016
(Restated)

Add/(Deduct):
Net Income/Loss for the Year - -
Dividends - -
Ending Balance - -
STOCKHOLDERS' EQUITY - -
SHARE CAPITAL
Add/(Deduct):
Ending Balance - -
SHARE PREMIUM
Add/(Deduct):
Ending Balance - -

Add/(Deduct):
Ending Balance - -
TREASURY SHARES
Ending Balance - -

Ending Balance - -
Total Equity 96,944 106,519
710
(in thousand pesos)
Total GBE FTI

2017 2016 2017 2016 2017 2016
Adjustments: - 1,154,921 - - - -
Add/(Deduct):
Prior Period Errors - 1,033,548 - - - -

Add/(Deduct):
Dividends (101,664) (52,002) - - - -
Other Adjustments 5,999,366 175,925 - - - -
Ending Balance 74,027,512 45,148,709 - - - -
GOVERNMENT EQUITY
Add/(Deduct):
Restated Balance 3,604,134 3,469,240 866,096 866,096 - -
Changes in Equity for the Year 1,399,069 134,894 1,416,368 - - -

Add/(Deduct):
Government 1,416,368 1,098 1,416,368 - - -
Ending Balance 5,003,202 3,604,134 2,282,464 866,096 - -
CONTRIBUTED CAPITAL
Ending Balance 8,458,434 8,458,434 3,380,269 3,380,269 - -
REVALUATION SURPLUS
Changes in Equity for the Year (511,843) (242) (511,843) - (511,843) -
Add/(Deduct):
Other Adjustments (511,843) (242) (511,843) - (511,843) -
Ending Balance 6,148,678 6,660,521 6,128,823 6,640,666 5,984,408 6,496,251
Beginning balance (802,808) (1,290,318) (802,808) (1,290,318) 127,487 40,740
Adjustments: - 120,497 - 120,497 - -
Add/(Deduct):
Changes in Accounting Policy - 438 - 438 - -
Restated Balance (802,808) (1,169,821) (802,808) (1,169,821) 127,487 40,740
Add/(Deduct):
Net Income/Loss for the Year 2,456,097 528,157 2,456,097 528,157 1,927,584 174,018
Dividends (1,196,168) (172,123) (1,196,168) (172,123) (963,792) (87,271)
Other Adjustments (266,424) 10,979 (266,424) 10,979 (262) -
Ending Balance 190,697 (802,808) 190,697 (802,808) 1,091,018 127,487
711
(in thousand pesos)
Total GBE FTI

2017 2016 2017 2016 2017 2016
STOCKHOLDERS' EQUITY 7,486,520 7,486,520 884,451 884,451 500,000 500,000
SHARE CAPITAL
Ending Balance 7,327,764 7,327,764 725,000 725,000 500,000 500,000
SHARE PREMIUM
Ending Balance 159,451 159,451 159,451 159,451 - -
TREASURY SHARES
Beginning balance (696) (696) - - - -
Ending Balance (696) (696) - - - -

OF INVESTMENTS
Beginning balance 17,456 - 17,456 - - -
Adjustments: - 11,010 - 11,010 - -
Add/(Deduct):

Add/(Deduct):
securities (18,993) 6,446 (18,993) 6,446 - -
Ending Balance (1,537) 17,456 (1,537) 17,456 - -
Total Equity 101,313,507 70,572,967 12,865,167 10,986,131 7,575,425 7,123,738
712
(in thousand pesos)
HSDC NRDC PMDC

2017 2016 2017 2016 2017 2016
GOVERNMENT EQUITY 1,970,125 1,970,125 159,190 159,190 - -
Add/(Deduct):

Add/(Deduct):
GOVERNMENT EQUITY
Add/(Deduct):

Add/(Deduct):
CONTRIBUTED CAPITAL
Ending Balance 1,970,125 1,970,125 159,190 159,190 - -
REVALUATION SURPLUS
Add/(Deduct):
Ending Balance - - - - 144,416 144,416
Beginning balance (1,408,985) (1,413,468) (21,836) (8,734) 25,926 43,579
Add/(Deduct):
Restated Balance (1,408,985) (1,413,468) (21,836) (8,734) 25,926 43,579
Changes in Equity for the Year 17,381 4,483 (24,965) (13,102) (24,370) (17,653)
Add/(Deduct):
Net Income/Loss for the Year 23,676 16,218 (34,393) (11,911) (8,084) 2,495
Dividends - (6,319) - - (1,247) (20,148)
Other Adjustments (6,295) (5,416) 9,428 (1,192) (15,038) -
Ending Balance (1,391,604) (1,408,985) (46,801) (21,836) 1,557 25,926
713
(in thousand pesos)
HSDC NRDC PMDC

2017 2016 2017 2016 2017 2016
SHARE CAPITAL
Ending Balance - - - - 125,000 125,000
SHARE PREMIUM
TREASURY SHARES

OF INVESTMENTS
Add/(Deduct):

Add/(Deduct):
Total Equity 578,521 561,140 112,388 137,353 270,972 295,342
714
(in thousand pesos)
PCIC PFDA PHILSUCOR

2017 2016 2017 2016 2017 2016
GOVERNMENT EQUITY 1,250,954 1,250,954 2,157,464 741,096 125,000 125,000
Add/(Deduct):

Add/(Deduct):
GOVERNMENT EQUITY
Beginning balance - - 741,096 741,096 125,000 125,000
Add/(Deduct):
Restated Balance - - 741,096 741,096 125,000 125,000

Add/(Deduct):
Government - - 1,416,368 - - -
Ending Balance - - 2,157,464 741,096 125,000 125,000
CONTRIBUTED CAPITAL
Ending Balance 1,250,954 1,250,954 - - - -
REVALUATION SURPLUS
Add/(Deduct):
Beginning balance 33,604 27,383 (672,787) (951,179) 1,113,782 971,361
Adjustments: - (16,337) - - - 136,835
Add/(Deduct):
Changes in Accounting Policy - - - - - 438
Restated Balance 33,604 11,046 (672,787) (951,179) 1,113,782 1,108,196
Changes in Equity for the Year 166,229 22,559 (116,123) 278,392 11,823 5,586
Add/(Deduct):
Dividends (170,769) (22,559) (60,360) (32,368) - (3,459)
Other Adjustments - - (241,512) 17,586 (12,744) -
Ending Balance 199,833 33,604 (788,910) (672,787) 1,125,605 1,113,782
715
(in thousand pesos)
PCIC PFDA PHILSUCOR

2017 2016 2017 2016 2017 2016
SHARE CAPITAL
Ending Balance 100,000 100,000 - - - -
SHARE PREMIUM
Ending Balance 159,451 159,451 - - - -
TREASURY SHARES

OF INVESTMENTS
Beginning balance - - - - 17,456 -
Adjustments: - - - - - 11,010
Add/(Deduct):
Changes in Equity for the Year - - - - (18,993) 6,446

Add/(Deduct):
securities - - - - (18,993) 6,446
Ending Balance - - - - (1,537) 17,456
Total Equity 1,710,239 1,544,010 1,368,554 68,309 1,249,068 1,256,239
716
(in thousand pesos)
Non-GBE NDA NFA

2017 2016 2017 2016 2017 2016
GOVERNMENT EQUITY 81,826,416 52,964,912 1,192,333 1,265,815 (146,769,790) (141,242,454)
Beginning balance 45,148,709 25,031,471 663,306 619,958 (146,242,454) (148,754,579)
Adjustments: - 1,154,921 - (781) - 3,554,958
Add/(Deduct):
Changes in Accounting Policy - (1,266) - (781) - -
Prior Period Errors - 1,033,548 - - - 3,432,319
Other Adjustments - 122,639 - - - 122,639
Restated Balance 45,148,709 26,186,392 663,306 619,177 (146,242,454) (145,199,620)
Changes in Equity for the Year 28,878,803 18,962,316 (54,600) 44,129 (5,527,336) (1,042,834)
Add/(Deduct):
Surplus/(Deficit) for the period 22,981,102 18,838,393 (25,633) 62,778 (4,646,406) (1,042,834)
Dividends (101,664) (52,002) - (16,620) - -
Other Adjustments 5,999,366 175,925 (28,967) (2,029) (880,930) -
Ending Balance 74,027,512 45,148,709 608,706 663,306 (151,769,791) (146,242,454)
GOVERNMENT EQUITY
Add/(Deduct):
Restated Balance 2,738,038 2,603,144 602,509 476,604 - -

Add/(Deduct):
Government - 1,098 - - - -
Other Adjustments (17,300) 133,796 (18,882) 125,905 - -
Ending Balance 2,720,738 2,738,038 583,626 602,509 - -
CONTRIBUTED CAPITAL
Ending Balance 5,078,165 5,078,165 - - 5,000,000 5,000,000
REVALUATION SURPLUS
Changes in Equity for the Year - (242) - - - -
Add/(Deduct):
Ending Balance 19,855 19,855 - - - -
Add/(Deduct):

Add/(Deduct):
717
(in thousand pesos)
Non-GBE NDA NFA

2017 2016 2017 2016 2017 2016
SHARE CAPITAL
Ending Balance 6,602,764 6,602,764 - - - -
SHARE PREMIUM
TREASURY SHARES
Beginning balance (696) (696) - - - -
Ending Balance (696) (696) - - - -

OF INVESTMENTS
Add/(Deduct):

Add/(Deduct):
Total Equity 88,448,340 59,586,836 1,192,333 1,265,815 (146,769,790) (141,242,454)
718
(in thousand pesos)
NIA NTA PCA

2017 2016 2017 2016 2017 2016
GOVERNMENT EQUITY 225,666,172 198,034,062 388,196 382,431 1,995,988 2,549,978
Beginning balance 198,034,062 177,886,748 (29,009) 102,364 1,367,587 3,566,477
Adjustments: - (736,175) - 6,380 - (1,692,340)
Add/(Deduct):
Changes in Accounting Policy - - - - - (485)
Prior Period Errors - (736,175) - 6,380 - (1,691,855)
Restated Balance 198,034,062 177,150,573 (29,009) 108,744 1,367,587 1,874,137
Changes in Equity for the Year 27,632,111 20,883,488 5,765 (137,753) (555,572) (506,550)
Add/(Deduct):
Surplus/(Deficit) for the period 27,529,479 20,883,488 (15,162) (137,734) (555,572) (506,550)
Other Adjustments 102,632 - 20,927 (19) - -
Ending Balance 225,666,172 198,034,062 (23,244) (29,009) 812,015 1,367,587
GOVERNMENT EQUITY
Beginning balance - - 411,440 411,440 1,182,391 1,174,501
Adjustments: - - - - - (1)
Add/(Deduct):
Prior Period Errors - - - - - (1)
Restated Balance - - 411,440 411,440 1,182,391 1,174,500
Changes in Equity for the Year - - - - 1,583 7,891

Add/(Deduct):
Other Adjustments - - - - 1,583 7,891
Ending Balance - - 411,440 411,440 1,183,973 1,182,391
CONTRIBUTED CAPITAL
REVALUATION SURPLUS
Changes in Equity for the Year - - - - - (242)
Add/(Deduct):
Other Adjustments - - - - - (242)
Ending Balance - - - - 19,855 19,855
Add/(Deduct):

Add/(Deduct):
719
(in thousand pesos)
NIA NTA PCA

2017 2016 2017 2016 2017 2016
SHARE CAPITAL
Ending Balance 5,559,192 5,559,192 - - - -
SHARE PREMIUM
TREASURY SHARES

OF INVESTMENTS
Add/(Deduct):

Add/(Deduct):
Total Equity 231,225,364 203,593,253 388,196 382,431 2,015,843 2,569,833
720
(in thousand pesos)

2017 2016 2017 2016 2017 2016
(Restated)
GOVERNMENT EQUITY 1,209,718 1,206,475 (4,224,247) (10,468,323) 2,368,047 1,236,929
Beginning balance 739,374 638,105 (10,546,488) (9,398,852) 1,162,332 371,250
Adjustments: - - - - - 22,879
Add/(Deduct):
Prior Period Errors - - - - - 22,879
Restated Balance 739,374 638,105 (10,546,488) (9,398,852) 1,162,332 394,129
Changes in Equity for the Year 3,243 101,269 6,244,076 (1,147,637) 1,131,117 768,203
Add/(Deduct):
Surplus/(Deficit) for the period 32,964 109,050 (571,349) (1,333,391) 1,232,781 803,585
Dividends - - - - (101,664) (35,382)
Other Adjustments (29,721) (7,781) 6,815,425 185,754 - -
Ending Balance 742,617 739,374 (4,302,412) (10,546,488) 2,293,449 1,162,332
GOVERNMENT EQUITY
Add/(Deduct):
Changes in Equity for the Year - - - - - 1,098

Add/(Deduct):
Government - - - - - 1,098
Ending Balance 467,101 467,101 - - 74,598 74,598
CONTRIBUTED CAPITAL
Ending Balance - - 78,165 78,165 - -
REVALUATION SURPLUS
Add/(Deduct):
Add/(Deduct):

Add/(Deduct):
721
(in thousand pesos)

2017 2016 2017 2016 2017 2016
(Restated)
SHARE CAPITAL
Ending Balance - - 1,043,572 1,043,572 - -
SHARE PREMIUM
TREASURY SHARES
Beginning balance - - (696) (696) - -
Ending Balance - - (696) (696) - -

OF INVESTMENTS
Add/(Deduct):

Add/(Deduct):
Total Equity 1,209,718 1,206,475 (3,181,370) (9,425,446) 2,368,047 1,236,929
722
(in thousand pesos)
Total GBE DFPC

2017 2016 2017 2016 2017 2016
GOVERNMENT EQUITY 32,697,236 30,283,759 86,260 85,845 22,622 22,622
Adjustments: - (585,977) - - - -
Add/(Deduct):
Changes in Equity for the Year 648,410 2,950,212 - - - -

Add/(Deduct):
Other Adjustments (1,089,232) 408,807 - - - -
Ending Balance 16,418,791 15,770,381 - - - -
GOVERNMENT EQUITY
Changes in Equity for the Year 312,305 38,937 416 - - -
Add/(Deduct):
Government - 4,776 - - - -
Other Adjustments 312,305 34,161 416 - - -
Ending Balance 14,640,107 14,327,802 86,260 85,845 22,622 22,622
CONTRIBUTED CAPITAL
Changes in Equity for the Year 1,452,762 - - - - -
Add/(Deduct):
Government 1,452,762 - - - - -
Ending Balance 1,638,338 185,576 - - - -
REVALUATION SURPLUS
Changes in Equity for the Year (226,740) - - - - -
Add/(Deduct):
Ending Balance 7,463,806 7,690,547 1,130,803 1,130,803 - -
Beginning balance 106,875,225 125,358,360 106,875,225 125,358,360 524,831 1,170,477
Adjustments: - (726,591) - (726,591) - (643,162)
Add/(Deduct):
Changes in Equity for the Year 1,567,440 (17,756,543) 1,567,440 (17,756,543) 68,652 (2,484)
Add/(Deduct):
Member's Contribution (89,858) (82,106) (89,858) (82,106) (89,858) (82,106)
Dividends (2,819,147) (1,401,314) (2,819,147) (1,401,314) - -
Other Adjustments (1,328,807) (24,156,878) (1,328,807) (24,156,878) (21,206) (56,758)
Ending Balance 108,442,666 106,875,225 108,442,666 106,875,225 593,483 524,831
SHARE CAPITAL
Ending Balance 409,431 409,431 409,431 409,431 - -
723
(in thousand pesos)
Total GBE DFPC

2017 2016 2017 2016 2017 2016

OF INVESTMENTS
Changes in Equity for the Year (35) 2,574 - - - -
Add/(Deduct):
securities (35) 2,574 - - - -
Ending Balance 9,206 9,240 - - - -
Total Equity 149,022,345 145,268,202 110,069,160 108,501,304 616,106 547,454
724
(in thousand pesos)
IBC 13 PAGCOR PCSO

2017 2016 2017 2016 2017 2016
GOVERNMENT EQUITY - - - - 421 5
Add/(Deduct):

Add/(Deduct):
GOVERNMENT EQUITY
Beginning balance - - - - 5 5
Changes in Equity for the Year - - - - 416 -
Add/(Deduct):
Other Adjustments - - - - 416 -
Ending Balance - - - - 421 5
CONTRIBUTED CAPITAL
Add/(Deduct):
REVALUATION SURPLUS
Add/(Deduct):
Ending Balance 422,186 422,186 - - 708,618 708,618
Beginning balance (1,556,585) (1,435,281) 13,402,335 10,155,930 2,917,332 1,727,406
Adjustments: - - - (83,429) - -
Add/(Deduct):
Restated Balance (1,556,585) (1,435,281) 13,402,335 10,072,501 2,917,332 1,727,406
Changes in Equity for the Year 23,371 (121,305) 2,353,104 3,329,834 3,570,578 1,189,926
Add/(Deduct):
Net Income/Loss for the Year (106,632) (106,997) 4,946,503 4,512,454 5,070,578 3,094,927
Dividends - - (2,593,399) (1,182,620) - -
Other Adjustments 130,003 (14,308) - - (1,500,000) (1,905,001)
Ending Balance (1,533,215) (1,556,585) 15,755,438 13,402,335 6,487,910 2,917,332
STOCKHOLDERS' EQUITY 500 500 71,431 71,431 - -
SHARE CAPITAL
Beginning balance 500 500 71,431 71,431 - -
Ending Balance 500 500 71,431 71,431 - -
725
(in thousand pesos)
IBC 13 PAGCOR PCSO

2017 2016 2017 2016 2017 2016

OF INVESTMENTS
Add/(Deduct):
Total Equity (1,110,529) (1,133,900) 15,826,869 13,473,765 7,196,949 3,625,955
726
(in thousand pesos)
PHIC PITC PPPI

2017 2016 2017 2016 2017 2016
(Restated)
Add/(Deduct):

Add/(Deduct):
GOVERNMENT EQUITY
Add/(Deduct):
CONTRIBUTED CAPITAL
Add/(Deduct):
REVALUATION SURPLUS
Add/(Deduct):
Beginning balance 90,683,027 113,115,586 (21,167) (97,339) (389,254) (350,314)
Add/(Deduct):
Restated Balance 90,683,027 113,115,586 (21,167) (97,339) (389,254) (350,314)
Changes in Equity for the Year (4,692,991) (22,432,559) 92,967 76,172 (35,838) (38,940)
Add/(Deduct):
Net Income/Loss for the Year (4,750,516) (251,531) 126,245 85,430 (35,838) (40,155)
Dividends - - (38,150) (8,259) - -
Other Adjustments 57,525 (22,181,028) 4,872 (1,000) - 1,216
Ending Balance 85,990,035 90,683,027 71,800 (21,167) (425,093) (389,254)
STOCKHOLDERS' EQUITY - - 300,000 300,000 37,500 37,500
SHARE CAPITAL
Ending Balance - - 300,000 300,000 37,500 37,500
727
(in thousand pesos)
PHIC PITC PPPI

2017 2016 2017 2016 2017 2016
(Restated)

OF INVESTMENTS
Add/(Deduct):
Total Equity 85,990,035 90,683,027 371,800 278,833 (387,593) (351,754)
728
(in thousand pesos)
PRA Non-GBE BSoP

2017 2016 2017 2016 2017 2016
(Restated)
GOVERNMENT EQUITY 63,217 63,217 32,610,976 30,197,914 305,408 277,651
Adjustments: - - - (585,977) - -
Add/(Deduct):
Changes in Accounting Policy - - - (1,297) - -
Changes in Equity for the Year - - 648,410 2,950,212 27,757 30,348

Add/(Deduct):
Surplus/(Deficit) for the period - - 1,737,642 2,541,405 63,552 32,619
Other Adjustments - - (1,089,232) 408,807 (35,795) (2,271)
Ending Balance - - 16,418,791 15,770,381 305,408 277,651
GOVERNMENT EQUITY
Changes in Equity for the Year - - 311,889 38,937 - -
Add/(Deduct):
Government - - - 4,776 - -
Other Adjustments - - 311,889 34,161 - -
Ending Balance 63,217 63,217 14,553,847 14,241,957 - -
CONTRIBUTED CAPITAL
Add/(Deduct):
Government - - 1,452,762 - - -
Ending Balance - - 1,638,338 185,576 - -
REVALUATION SURPLUS
Changes in Equity for the Year - - (226,740) - (226,740) -
Add/(Deduct):
Other Adjustments - - (226,740) - (226,740) -
Ending Balance - - 6,333,003 6,559,743 4,704,191 4,930,931
Add/(Deduct):

Add/(Deduct):
Net Income/Loss for the Year 375,197 453,248 - - - -
Dividends (187,598) (210,435) - - - -
Ending Balance 1,502,305 1,314,707 - - - -
STOCKHOLDERS' EQUITY - - - - - -
SHARE CAPITAL
729
(in thousand pesos)
PRA Non-GBE BSoP

2017 2016 2017 2016 2017 2016
(Restated)

OF INVESTMENTS
Changes in Equity for the Year - - (35) 2,574 (35) 2,574
Add/(Deduct):
securities - - (35) 2,574 (35) 2,574
Ending Balance - - 9,206 9,240 9,206 9,240
Total Equity 1,565,523 1,377,924 38,953,185 36,766,898 5,018,804 5,217,822
730
(in thousand pesos)
CCP CITEM DAP

2017 2016 2017 2016 2017 2016
GOVERNMENT EQUITY 2,347,098 1,710,971 471,970 439,687 424,089 354,445
Adjustments: - (336,024) - - - -
Add/(Deduct):
Restated Balance 143,070 (182,966) 393,411 408,825 145,047 71,962
Changes in Equity for the Year 636,127 326,036 32,282 (15,414) 69,644 73,085
Add/(Deduct):
Surplus/(Deficit) for the period 636,127 328,507 31,329 (21,438) 42,841 72,579
Other Adjustments - (2,471) 953 6,023 26,803 507
Ending Balance 779,197 143,070 425,693 393,411 214,691 145,047
GOVERNMENT EQUITY
Changes in Equity for the Year - 34,161 - - - -
Add/(Deduct):
Ending Balance 1,567,900 1,567,900 46,276 46,276 47,500 47,500
CONTRIBUTED CAPITAL
Add/(Deduct):
Ending Balance - - - - 161,898 161,898
REVALUATION SURPLUS
Add/(Deduct):
Add/(Deduct):

Add/(Deduct):
SHARE CAPITAL
731
(in thousand pesos)
CCP CITEM DAP

2017 2016 2017 2016 2017 2016

OF INVESTMENTS
Add/(Deduct):
Total Equity 2,347,098 1,710,971 471,970 439,687 424,089 354,445
732
(in thousand pesos)
LCP NKTI PCED

2017 2016 2017 2016 2017 2016
Add/(Deduct):
Changes in Equity for the Year 220,254 (33,992) 729,784 807,000 22,881 20,742
Add/(Deduct):
Surplus/(Deficit) for the period 185,388 (37,277) 527,584 400,755 25,330 20,742
Other Adjustments 34,867 3,285 202,200 406,245 (2,449) -
Ending Balance 4,552,490 4,332,235 5,564,958 4,835,174 159,184 136,304
GOVERNMENT EQUITY
Add/(Deduct):
Ending Balance - - - - 14,890 14,890
CONTRIBUTED CAPITAL
Add/(Deduct):
Ending Balance - - - - 23,678 23,678
REVALUATION SURPLUS
Add/(Deduct):
Add/(Deduct):

Add/(Deduct):
SHARE CAPITAL
733
(in thousand pesos)
LCP NKTI PCED

2017 2016 2017 2016 2017 2016

OF INVESTMENTS
Add/(Deduct):
Total Equity 4,552,490 4,332,235 5,564,958 4,835,174 197,752 174,872
734
(in thousand pesos)
PCMC PHC PIDS

2017 2016 2017 2016 2017 2016
(Restated)
Beginning balance 2,125,489 1,740,509 1,336,089 961,226 640,124 624,446
Adjustments: - 858 - - - 1,777
Add/(Deduct):
Changes in Accounting Policy - - - - - (1,297)
Prior Period Errors - 858 - - - 3,074
Restated Balance 2,125,489 1,741,367 1,336,089 961,226 640,124 626,223
Changes in Equity for the Year 33,057 384,122 135,940 374,863 (239,189) 13,901
Add/(Deduct):
Surplus/(Deficit) for the period 33,057 384,122 230,511 370,033 72,366 14,961
Other Adjustments - - (94,571) 4,829 (311,555) (1,060)
Ending Balance 2,158,546 2,125,489 1,472,028 1,336,089 400,935 640,124
GOVERNMENT EQUITY
Changes in Equity for the Year - - - - 311,889 -
Add/(Deduct):
Other Adjustments - - - - 311,889 -
Ending Balance - - 625,510 625,510 311,889 -
CONTRIBUTED CAPITAL
Add/(Deduct):
REVALUATION SURPLUS
Add/(Deduct):
Ending Balance - - 1,628,812 1,628,812 - -
Add/(Deduct):

Add/(Deduct):
SHARE CAPITAL
735
(in thousand pesos)
PCMC PHC PIDS

2017 2016 2017 2016 2017 2016
(Restated)

OF INVESTMENTS
Add/(Deduct):
Total Equity 2,158,546 2,125,489 3,726,351 3,590,411 712,824 640,124
736
(in thousand pesos)
PITAHC PTNI TPB

2017 2016 2017 2016 2017 2016
GOVERNMENT EQUITY 350,746 348,530 1,876,072 1,796,834 666,938 459,591
Beginning balance 265,641 263,719 347,074 (277,692) 209,591 288,189
Adjustments: - - - - - (252,588)
Add/(Deduct):
Prior Period Errors - - - - - (2,588)
Other Adjustments - - - - - (250,000)
Restated Balance 265,641 263,719 347,074 (277,692) 209,591 35,601
Changes in Equity for the Year 2,216 1,922 (1,373,524) 624,766 207,347 173,990
Add/(Deduct):
Surplus/(Deficit) for the period 2,216 1,922 (21,237) 642,480 (231,772) 173,990
Other Adjustments - - (1,352,287) (17,714) 439,118 -
Ending Balance 267,857 265,641 (1,026,451) 347,074 416,938 209,591
GOVERNMENT EQUITY
Changes in Equity for the Year - 4,776 - - - -
Add/(Deduct):
Government - 4,776 - - - -
Ending Balance 82,889 82,889 1,449,760 1,449,760 250,000 250,000
CONTRIBUTED CAPITAL
Add/(Deduct):
Government - - 1,452,762 - - -
Ending Balance - - 1,452,762 - - -
REVALUATION SURPLUS
Add/(Deduct):
Add/(Deduct):

Add/(Deduct):
SHARE CAPITAL
737
(in thousand pesos)
PITAHC PTNI TPB

2017 2016 2017 2016 2017 2016

OF INVESTMENTS
Add/(Deduct):
Total Equity 350,746 348,530 1,876,072 1,796,834 666,938 459,591
738
(in thousand pesos)
VFP
2017 2016
GOVERNMENT EQUITY 10,884,547 10,740,713
Adjustments: - -
Add/(Deduct):
Changes in Equity for the Year 143,834 168,843

Add/(Deduct):
Surplus/(Deficit) for the period 140,350 157,409
Other Adjustments 3,485 11,434
GOVERNMENT EQUITY
Add/(Deduct):
Government - -
Ending Balance 10,157,232 10,157,232
CONTRIBUTED CAPITAL
Add/(Deduct):
Government - -
Ending Balance - -
REVALUATION SURPLUS
Add/(Deduct):
Ending Balance - -
Adjustments: - -
Add/(Deduct):

Add/(Deduct):
Member's Contribution - -
Net Income/Loss for the Year - -
Dividends - -
Ending Balance - -
STOCKHOLDERS' EQUITY - -
SHARE CAPITAL
Ending Balance - -
739
(in thousand pesos)
VFP
2017 2016

OF INVESTMENTS
Add/(Deduct):
securities - -
Ending Balance - -
Total Equity 10,884,547 10,740,713
740
STATEMENT OF
CASH FLOWS
Statement of Cash Flows
(in thousand pesos)
BSP (includes PICCI

Total GBE
accounts)
2017 2016 2017 2016 2017 2016
Cash Inflows
Receipt of Assistance/Subsidy 47,574 93,268 - - - -
Collection of Receivables 218,798,319 210,184,172 218,798,319 210,184,172 - -
Receipt of Intra-Agency Fund Transfers 56,033 - 56,033 - - -
Trust Receipts 195,489 24,118 195,489 24,118 - -
Other Receipts 385,166,588 337,177,633 385,164,887 337,176,146 10,091,805 37,911,813
Adjustments 1,230,465 2,499,219 1,230,465 2,499,219 - -
Cash Outflows
Purchase of Inventories 39,225 41,754 39,225 41,754 - -
Grant of Cash Advances 146,720 122,721 146,720 122,721 - -
Prepayments 22,390 22,504 22,390 22,504 - -
Refund of Deposits 1,371,999 2,233,205 1,371,999 2,233,205 - -
and Mandatory Deductions 142,376 113,731 141,880 113,117 - -
Contribution 56,504 2,050 56,504 2,050 - -
Release of Inter-Agency Fund Transfers 121,379 - 350 - - -
Release of Intra-Agency Fund Transfers - 2,324 - 2,324 - -
Release of Loans (Financial Institutions) 234,655,607 226,111,499 234,655,607 226,111,499 - -
Other Disbursements 258,803,660 279,865,365 258,803,660 279,865,365 21,326,315 130,742,576
Adjustments 1,976 - 1,976 - - -
Net Cash Provided by/(Used in) Operating

Activities 172,123,735 79,982,132 172,265,402 79,928,218 (804,586) (96,306,330)
Cash Inflows
Proceeds from Sale/ Disposal of Investment
Property 584,528 549,248 584,528 549,248 - -
Plant and Equipment 165,362 90,349 165,362 90,349 - -
Sale of Investments 167,905,145 31,598,147 166,866,145 30,662,147 98,292 -
Receipt of Interest Earned 41,034 32,714 38,314 30,199 - -
Receipt of Cash Dividends 1,582,906 1,943,450 1,582,906 1,943,450 - -
Proceeds from Matured Investments/Redemption 99,704,449 80,969,780 99,700,860 80,925,611 - -
Collection of Long-Term Loans 11,679 6,169 11,679 6,169 - -
Total Cash Inflows 269,995,103 115,189,858 268,949,794 114,207,174 98,292 -
Adjustments (Please specify) 21,768,516 23,951,190 21,768,516 23,951,190 - -
Adjusted Cash Inflows 291,763,618 139,141,048 290,718,309 138,158,364 98,292 -
Cash Outflows
and Equipment 7,792,378 2,382,018 7,781,490 2,372,704 5,761,868 420,688
Purchase/Acquisition of Investments 423,213,332 321,805,158 422,164,031 320,826,863 886,863 833,063
Purchase of Intangible Assets 126,896 181,169 118,783 167,356 - -
Adjustments (Please specify) 5,000 5,959,890 5,000 5,959,890 - -
741
(in thousand pesos)
BSP (includes PICCI

Total GBE
accounts)
2017 2016 2017 2016 2017 2016
Net Cash Provided By/(Used In) Investing

Activities (139,508,905) (191,325,032) (139,485,913) (191,306,295) (6,550,439) (1,253,751)
Cash Inflows
Proceeds from Incurrence of Financial
Liabilities 907,298,865 954,409,108 907,298,865 954,409,108 907,298,865 946,012,512
Acceptances Payable 35 4,472 35 4,472 35 4,472
Proceeds from Domestic and Foreign Loans 148,796,350 167,330,926 148,796,350 167,330,926 - -
other Equity Securities 3,463,137 11,872,029 3,457,304 11,872,029 - -
Total Cash Inflows 1,059,558,388 1,133,616,535 1,059,552,555 1,133,616,535 907,298,900 946,016,983
Adjustments (Please specify) 56,425 3,753,090 - 3,748,890 - -
Adjusted Cash Inflows 1,059,614,813 1,137,369,625 1,059,552,555 1,137,365,425 907,298,900 946,016,983
Cash Outflows
Payment of Long-Term Liabilities 916,113,786 1,012,791,019 916,113,786 1,012,791,019 764,009,125 827,026,785
and Other Equity Securities - 5,650,000 - 5,650,000 - -
Payment of Cash Dividends/Share of NG
to GOCCs Income 11,965,275 11,392,059 11,965,275 11,392,059 1,842,496 -
Total Cash Outflows 928,079,061 1,029,833,078 928,079,061 1,029,833,078 765,851,621 827,026,785
Adjustments (Please specify) 6,093,565 - 6,093,565 - - -
Adjusted Cash Outflows 934,172,626 1,029,833,078 934,172,626 1,029,833,078 765,851,621 827,026,785
Net Cash Provided By/(Used In) Financing

Activities 125,442,187 107,536,547 125,379,929 107,532,347 141,447,279 118,990,199
INCREASE/(DECREASE) IN CASH AND CASH

EQUIVALENTS 158,057,017 (3,806,353) 158,159,419 (3,845,731) 134,092,254 21,430,117

CASH AND CASH EQUIVALENTS, DECEMBER 31 1,158,366,066 975,202,305 1,158,281,848 975,015,686 587,863,423 425,970,600
742
(in thousand pesos)
DBP AAIIBP DBPLC

2017 2016 2017 2016 2017 2016
(Restated)
Cash Inflows
Collection of Income/Revenue 20,430,374 18,737,356 31,178 28,737 183,562 159,699
Receipt of Assistance/Subsidy - - - - - -
Collection of Receivables 211,913,310 197,056,250 75,572 60,972 659,559 549,038
Receipt of Intra-Agency Fund Transfers - - - - - -
Trust Receipts - - 158,864 - 33,936 23,056
Other Receipts 168,803,298 96,939,730 518 333 - -
Total Cash Inflows 401,146,982 312,733,336 266,132 90,041 877,057 731,793
Adjustments - - - - - -
Adjusted Cash Inflows 401,146,982 312,733,336 266,132 90,041 877,057 731,793
Cash Outflows
Payment of Expenses 16,094,205 15,199,773 73,978 69,961 105,432 93,413
Purchase of Inventories - - 1,698 1,329 - -
Grant of Cash Advances - - 228 104 - -
Prepayments 224 - - - 12,065 14,653
Refund of Deposits - - - 97,668 - -
Payments of Accounts Payable - - - - - -
and Mandatory Deductions - - 14,491 14,626 1,522 1,887
Contribution - - - - - -
Release of Inter-Agency Fund Transfers - - - - - -
Release of Intra-Agency Fund Transfers - - - - - -
Release of Loans (Financial Institutions) 229,334,958 221,088,635 101,223 47,930 965,071 810,934
Other Disbursements 105,812,810 84,975,573 - - - -
Total Cash Outflows 351,242,197 321,263,981 191,618 231,617 1,084,091 920,886
Adjustments - - 1,976 - - -
Adjusted Cash Outflows 351,242,197 321,263,981 193,593 231,617 1,084,091 920,886

Activities 49,904,785 (8,530,645) 72,538 (141,576) (207,034) (189,093)
Cash Inflows
Property 125,284 460,627 - - - -
Plant and Equipment 143,402 88,791 - - 250 1,250
Sale of Investments 110,436,678 30,320,085 - - - -
Receipt of Interest Earned - - - - - -
Receipt of Cash Dividends - - - 963 - -
Proceeds from Matured Investments/Redemption 8,199,654 2,402,192 13,678 - - -
Collection of Long-Term Loans - - - - - -
Total Cash Inflows 118,905,018 33,271,695 13,678 963 250 1,250
Adjustments (Please specify) 21,768,394 23,950,425 - - - -
Adjusted Cash Inflows 140,673,412 57,222,120 13,678 963 250 1,250
Cash Outflows
Purchase/Construction of Investment Property 71,596 54,805 - - - -
and Equipment 577,038 783,034 474 1,532 715 1,701
Purchase/Acquisition of Investments 143,751,712 41,545,846 - 1,600 - -
Purchase of Intangible Assets 118,693 165,677 90 - - -
Total Cash Outflows 144,519,039 42,549,362 564 3,132 715 1,701
Adjustments (Please specify) - 5,959,890 - - - -
Adjusted Cash Outflows 144,519,039 48,509,252 564 3,132 715 1,701
743
(in thousand pesos)
DBP AAIIBP DBPLC

2017 2016 2017 2016 2017 2016
(Restated)

Activities (3,845,627) 8,712,868 13,114 (2,169) (465) (451)
Cash Inflows
Liabilities - - - - - -
Acceptances Payable - - - - - -
Proceeds from Domestic and Foreign Loans 142,496,156 165,019,706 - - 790,000 287,000
other Equity Securities - 5,000,000 - - - -
Total Cash Inflows 142,496,156 170,019,706 - - 790,000 287,000
Adjustments (Please specify) - 3,748,890 - - - -
Adjusted Cash Inflows 142,496,156 173,768,596 - - 790,000 287,000
Cash Outflows
Payment of Long-Term Liabilities 140,706,656 170,240,961 - - 576,628 93,897
and Other Equity Securities - 5,650,000 - - - -
to GOCCs Income 2,516,158 2,341,125 - - 8,646 6,713
Total Cash Outflows 143,222,814 178,232,086 - - 585,274 100,610
Adjustments (Please specify) 6,090,970 - - - - -
Adjusted Cash Outflows 149,313,784 178,232,086 - - 585,274 100,610

Activities (6,817,628) (4,463,490) - - 204,726 186,390

EQUIVALENTS 39,241,530 (4,281,267) 85,652 (143,746) (2,773) (3,155)

Cash Equivalents (2,120,064) 361,687 - - - -
CASH AND CASH EQUIVALENTS, JANUARY 1 136,910,861 140,830,441 416,672 560,418 28,880 32,035
CASH AND CASH EQUIVALENTS, DECEMBER 31 174,032,327 136,910,861 502,324 416,672 26,107 28,880
744
(in thousand pesos)
DBPMC DCI LBP

2017 2016 2017 2016 2017 2016
(Restated)
Cash Inflows
Collection of Income/Revenue 2 967 74 153 50,948,000 43,469,983
Collection of Receivables - - 161,291 199,303 - -
Trust Receipts - - - - - -
Other Receipts - - - - 203,204,216 200,507,650
Total Cash Inflows 2 967 161,365 199,456 254,152,216 243,977,633
Adjusted Cash Inflows 2 967 161,365 199,456 254,152,216 243,977,633
Cash Outflows
Payment of Expenses - - 116,498 169,028 33,265,802 31,469,713
Purchase of Inventories - - - - - -
Grant of Cash Advances - - - - - -
Refund of Deposits - - - - - -
Payments of Accounts Payable 2 6 34,316 13,883 - -
and Mandatory Deductions 234 904 - - - -
Release of Loans (Financial Institutions) - - - - - -
Other Disbursements - - 192 - 126,105,305 59,333,888
Total Cash Outflows 236 910 151,005 182,910 159,371,107 90,803,601
Adjusted Cash Outflows 236 910 151,005 182,910 159,371,107 90,803,601

Activities (234) 57 10,359 16,546 94,781,109 153,174,032
Cash Inflows
Property - - - - 459,244 88,621
Plant and Equipment - - - - - -
Sale of Investments - 6,037 - - 56,331,175 325,844
Receipt of Cash Dividends 300 304 - - 1,582,606 1,942,183
Proceeds from Matured Investments/Redemption - - - - - -
Total Cash Inflows 300 6,341 - - 58,373,024 2,356,649
Adjustments (Please specify) 117 748 - - - -
Adjusted Cash Inflows 417 7,089 - - 58,373,024 2,356,649
Cash Outflows
Purchase/Construction of Investment Property - - - - 63,321 83,041
and Equipment - - 669 3,396 1,377,635 1,083,684
Purchase/Acquisition of Investments 43,069 10,144 - - 165,195,779 173,825,400
Purchase of Intangible Assets - - - - - -
Total Cash Outflows 43,069 10,144 669 3,396 166,636,735 174,992,126
Adjustments (Please specify) 5,000 - - - - -
Adjusted Cash Outflows 48,069 10,144 669 3,396 166,636,735 174,992,126
745
(in thousand pesos)
DBPMC DCI LBP

2017 2016 2017 2016 2017 2016
(Restated)

Activities (47,652) (3,054) (669) (3,396) (108,263,711) (172,635,477)
Cash Inflows
Liabilities - - - - - 8,396,596
Proceeds from Domestic and Foreign Loans - - - - - -
other Equity Securities - - - - 3,457,304 6,852,029
Total Cash Inflows - - - - 3,457,304 15,248,625
Adjustments (Please specify) - - - - - -
Adjusted Cash Inflows - - - - 3,457,304 15,248,625
Cash Outflows
Payment of Long-Term Liabilities - - - - 5,424,874 10,500,000
and Other Equity Securities - - - - - -
to GOCCs Income - - 6,182 1,500 - 6,600,000
Total Cash Outflows - - 6,182 1,500 5,424,874 17,100,000
Adjustments (Please specify) - - 2,595 - - -
Adjusted Cash Outflows - - 8,776 1,500 5,424,874 17,100,000

Activities - - (8,776) (1,500) (1,967,570) (1,851,375)

EQUIVALENTS (47,886) (2,998) 914 11,649 (15,450,172) (21,312,820)

Cash Equivalents - - - - (574,047) 133,496
CASH AND CASH EQUIVALENTS, JANUARY 1 48,938 51,935 29,848 18,198 410,081,148 431,260,471
CASH AND CASH EQUIVALENTS, DECEMBER 31 1,052 48,938 30,762 29,848 394,056,929 410,081,148
746
(in thousand pesos)
LBRDC LIBI LLFC

2017 2016 2017 2016 2017 2016
Cash Inflows
Collection of Income/Revenue 226,111 222,294 305,790 262,100 326,360 355,888
Collection of Receivables 177,584 170,337 3,918 29,016 4,166,071 4,441,065
Trust Receipts 1,611 213 - - - -
Other Receipts 1,628 2,805 393,618 353,228 - -
Total Cash Inflows 406,934 395,650 703,326 644,344 4,492,432 4,796,953
Adjustments - - 1,230,465 2,499,219 - -
Adjusted Cash Inflows 406,934 395,650 1,933,791 3,143,562 4,492,432 4,796,953
Cash Outflows
Payment of Expenses 142,441 130,750 37,693 35,642 295,033 332,208
Purchase of Inventories 37,179 40,154 348 271 - -
Grant of Cash Advances 6,321 9,840 - - 4,110 4,767
Prepayments 2,731 525 7,369 6,859 - -
Refund of Deposits 1,326 132 - - 96,579 168,113
Payments of Accounts Payable 5,818 9,852 5,976 9,186 526 179
and Mandatory Deductions 72,944 66,457 720 580 51,903 28,601
Contribution - - 404 2,050 - -
Release of Inter-Agency Fund Transfers - - - - 350 -
Release of Loans (Financial Institutions) - - - - 4,254,354 4,164,000
Other Disbursements 93,656 83,734 1,819,274 2,876,279 - -
Total Cash Outflows 362,417 341,443 1,871,784 2,930,866 4,702,855 4,697,868
Adjusted Cash Outflows 362,417 341,443 1,871,784 2,930,866 4,702,855 4,697,868

Activities 44,517 54,207 62,007 212,696 (210,424) 99,085
Cash Inflows
Property - - - - - -
Plant and Equipment - - 4 59 21,486 249
Sale of Investments - - - - - -
Receipt of Cash Dividends - - - - - -
Proceeds from Matured Investments/Redemption 737,436 770,649 2,593,114 10,383,784 - -
Total Cash Inflows 741,721 773,684 2,627,146 10,411,006 21,486 249
Adjusted Cash Inflows 741,721 773,684 2,627,146 10,411,006 21,486 249
Cash Outflows
Purchase/Construction of Investment Property - - - - - -
and Equipment 3,129 4,014 2,823 6,480 6,609 95
Purchase/Acquisition of Investments 795,424 753,143 2,762,711 10,626,265 - -
Purchase of Intangible Assets - 1,679 - - - -
Total Cash Outflows 798,553 758,836 2,765,534 10,632,745 6,609 95
Adjusted Cash Outflows 798,553 758,836 2,765,534 10,632,745 6,609 95
747
(in thousand pesos)
LBRDC LIBI LLFC

2017 2016 2017 2016 2017 2016

Activities (56,832) 14,848 (138,388) (221,739) 14,877 154
Cash Inflows
Proceeds from Domestic and Foreign Loans - - - - 5,510,194 2,024,220
other Equity Securities - - - - 0 -
Cash Outflows
Payment of Long-Term Liabilities - - - - 5,266,466 2,043,425
and Other Equity Securities - - - - - 0
to GOCCs Income 30,498 29,436 37,759 41,408 48,752 80,500
Total Cash Outflows 30,498 29,436 37,759 41,408 5,315,218 2,123,925
Adjusted Cash Outflows 30,498 29,436 37,759 41,408 5,315,218 2,123,925

Activities (30,498) (29,436) (37,759) (41,408) 194,976 (99,705)

EQUIVALENTS (42,813) 39,619 (114,139) (50,450) (571) (466)

Cash Equivalents - - 159 288 - -
CASH AND CASH EQUIVALENTS, JANUARY 1 118,344 78,724 242,630 292,792 42,511 42,977
CASH AND CASH EQUIVALENTS, DECEMBER 31 75,531 118,344 128,649 242,630 41,940 42,511
748
(in thousand pesos)

2017 2016 2017 2016 2017 2016
Cash Inflows
Collection of Income/Revenue 341,504 279,393 300 10,061 31,130,016 28,127,241
Collection of Receivables - - 162,510 215,729 494,225 7,134,118
Trust Receipts - - 1,078 849 - -
Other Receipts 161 98 - 1,409 - -
Adjusted Cash Inflows 341,666 279,491 163,888 228,048 31,624,241 35,261,359
Cash Outflows
Payment of Expenses 17,565 9,611 160,350 216,051 1,602,967 1,502,907
Grant of Cash Advances - - - - 105,145 107,052
Refund of Deposits - - - - 1,274,094 1,967,292
Payments of Accounts Payable 280,255 258,295 - - 69,053 162,617
and Mandatory Deductions - - - - 67 63
Contribution - - - - 56,100 -
Other Disbursements 0 0 - - - -

Activities 43,844 11,584 3,538 11,997 28,516,815 31,521,428
Cash Inflows
Plant and Equipment 220 - - - - -
Proceeds from Matured Investments/Redemption - 16,729 - - 88,156,979 67,352,257
Total Cash Inflows 220 16,729 - - 88,156,979 67,352,257
Adjusted Cash Inflows 220 16,729 - - 88,156,979 67,352,257
Cash Outflows
and Equipment 3,090 573 3,899 9,127 19,339 18,672
Purchase/Acquisition of Investments - - - - 108,728,473 93,231,402
Total Cash Outflows 3,090 573 3,899 9,127 108,747,812 93,250,074
Adjusted Cash Outflows 3,090 573 3,899 9,127 108,747,812 93,250,074
749
(in thousand pesos)

2017 2016 2017 2016 2017 2016

Activities (2,870) 16,156 (3,899) (9,127) (20,590,833) (25,897,817)
Cash Inflows
other Equity Securities - - - - - -
Total Cash Inflows - - - - - -
Adjusted Cash Inflows - - - - - -
Cash Outflows
Payment of Long-Term Liabilities - - - - 90,036 2,885,951
to GOCCs Income 13,560 12,816 - - 7,461,225 2,278,561
Total Cash Outflows 13,560 12,816 - - 7,551,261 5,164,512
Adjusted Cash Outflows 13,560 12,816 - - 7,551,261 5,164,512

Activities (13,560) (12,816) - - (7,551,261) (5,164,512)

EQUIVALENTS 27,414 14,924 (361) 2,870 374,721 459,099

Cash Equivalents - - - - (103) (64)
CASH AND CASH EQUIVALENTS, DECEMBER 31 86,772 59,358 7,096 7,457 1,335,140 960,522
750
(in thousand pesos)

2017 2016 2017 2016 2017 2016
Cash Inflows
Receipt of Assistance/Subsidy - - 47,574 93,268 - -
Collection of Receivables 984,278 328,345 - - - -
Receipt of Intra-Agency Fund Transfers 56,033 - - - - -
Other Receipts 2,669,641 1,459,081 1,701 1,487 - -
Cash Outflows
Grant of Cash Advances 30,915 957 - - - -
Prepayments - 467 - - - -
Payments of Accounts Payable 136,771 180,689 - - - -
and Mandatory Deductions - - 496 615 496 615
Release of Inter-Agency Fund Transfers - - 121,029 - 121,029 -
Release of Intra-Agency Fund Transfers - 2,324 - - - -
Other Disbursements 3,646,107 1,853,315 - - - -
Total Cash Outflows 4,206,105 2,483,733 200,860 67,429 125,072 5,543
Adjusted Cash Outflows 4,206,105 2,483,733 200,860 67,429 125,072 5,543

Activities 48,166 (5,769) (141,668) 53,914 (123,918) (4,095)
Cash Inflows
Plant and Equipment - - - - - -
Sale of Investments - 10,181 1,039,000 936,000 1,039,000 936,000
Receipt of Interest Earned - - 2,721 2,515 1,799 1,597
Proceeds from Matured Investments/Redemption - - 3,588 44,169 441 -
Collection of Long-Term Loans 11,679 6,169 - - - -
Total Cash Inflows 11,679 16,350 1,045,309 982,684 1,041,240 937,597
Adjusted Cash Inflows 11,683 16,367 1,045,309 982,684 1,041,240 937,597
Cash Outflows
and Equipment 24,202 39,707 10,888 9,314 - -
Purchase/Acquisition of Investments - - 1,049,301 978,295 1,039,000 936,000
Purchase of Intangible Assets - - 8,113 13,813 - -
Total Cash Outflows 24,202 39,707 1,068,301 1,001,421 1,039,000 936,000
Adjusted Cash Outflows 24,202 39,707 1,068,301 1,001,421 1,039,000 936,000
751
(in thousand pesos)

2017 2016 2017 2016 2017 2016

Activities (12,519) (23,340) (22,992) (18,737) 2,240 1,597
Cash Inflows
other Equity Securities - 20,000 5,833 - - -
Total Cash Inflows - 20,000 5,833 - - -
Adjustments (Please specify) - - 56,425 4,200 56,425 4,200
Adjusted Cash Inflows - 20,000 62,258 4,200 56,425 4,200
Cash Outflows
Payment of Long-Term Liabilities 40,000 - - - - -
to GOCCs Income - - - - - -
Total Cash Outflows 40,000 - - - - -
Adjusted Cash Outflows 40,000 - - - - -

Activities (40,000) 20,000 62,258 4,200 56,425 4,200

EQUIVALENTS (4,352) (9,109) (102,402) 39,377 (65,253) 1,702

Cash Equivalents 230 (11) - - - -
752
(in thousand pesos)
CIC LCDFI
2017 2016 2017 2016
Cash Inflows
Collection of Income/Revenue 1,520 4,483 7,242 20,657
Receipt of Assistance/Subsidy 47,574 93,268 - -
Collection of Receivables - - - -
Receipt of Intra-Agency Fund Transfers - - - -
Trust Receipts - - - -
Other Receipts 126 319 1,575 1,169
Total Cash Inflows 49,220 98,070 8,817 21,825
Adjustments - - - -
Adjusted Cash Inflows 49,220 98,070 8,817 21,825
Cash Outflows
Payment of Expenses 48,791 41,150 26,997 20,736
Purchase of Inventories - - - -
Grant of Cash Advances - - - -
Prepayments - - - -
Refund of Deposits - - - -
Payments of Accounts Payable - - - -
and Mandatory Deductions - - - -
Contribution - - - -
Release of Inter-Agency Fund Transfers - - - -
Release of Intra-Agency Fund Transfers - - - -
Release of Loans (Financial Institutions) - - - -
Other Disbursements - - - -
Total Cash Outflows 48,791 41,150 26,997 20,736
Adjustments - - - -
Adjusted Cash Outflows 48,791 41,150 26,997 20,736

Activities 429 56,920 (18,179) 1,089
Cash Inflows
Property - - - -
Plant and Equipment - - - -
Sale of Investments - - - -
Receipt of Interest Earned 223 110 698 809
Receipt of Cash Dividends - - - -
Proceeds from Matured Investments/Redemption - - 3,147 44,169
Collection of Long-Term Loans - - - -
Total Cash Inflows 223 110 3,846 44,977
Adjustments (Please specify) - - - -
Adjusted Cash Inflows 223 110 3,846 44,977
Cash Outflows
Purchase/Construction of Investment Property - - - -
and Equipment 10,721 9,072 166 242
Purchase/Acquisition of Investments - - 10,301 42,295
Purchase of Intangible Assets 8,113 13,813 - -
753
(in thousand pesos)
CIC LCDFI
2017 2016 2017 2016

Activities (18,611) (22,774) (6,621) 2,440
Cash Inflows
Liabilities - - - -
Acceptances Payable - - - -
Proceeds from Domestic and Foreign Loans - - - -
other Equity Securities 5,833 - - -
Total Cash Inflows 5,833 - - -
Adjusted Cash Inflows 5,833 - - -
Cash Outflows
Payment of Long-Term Liabilities - - - -
and Other Equity Securities - - - -
to GOCCs Income - - - -
Total Cash Outflows - - - -
Adjusted Cash Outflows - - - -

Activities 5,833 - - -

EQUIVALENTS (12,348) 34,146 (24,801) 3,529

Cash Equivalents - - - -
CASH AND CASH EQUIVALENTS, JANUARY 1 64,789 30,643 31,106 27,576
CASH AND CASH EQUIVALENTS, DECEMBER 31 52,441 64,789 6,305 31,106
754
(in thousand pesos)
Total GBE AFPRSBS

2017 2016 2017 2016 2017 2016
Cash Inflows
Proceeds from Sale of Goods and Services 28,557 29,054 28,557 29,054 - -
Collection of Income/Revenue 320,858,363 296,225,797 320,620,171 295,938,724 648,590 583,372
Receipt of Assistance/Subsidy 21,244,199 12,400,464 1,686,920 360,360 - -
Collection of Receivables 61,498,004 57,594,310 51,214,283 47,240,425 60,331 2,275,782
Receipt of Inter-Agency Fund Transfers 2,347,167 3,120,995 2,347,167 3,120,995 - -
Receipt of Intra-Agency Fund Transfers 1,031 1,249 1,031 1,249 - -
Trust Receipts 1,016,744 642,968 1,016,554 642,832 - -
Other Receipts 2,923,312 1,943,483 2,898,015 1,936,920 59,459 -
Total Cash Inflows 409,917,377 371,958,321 379,812,697 349,270,560 768,379 2,859,154
Adjustments 51,693 167,490 51,693 167,490 - -
Adjusted Cash Inflows 409,969,070 372,125,811 379,864,390 349,438,051 768,379 2,859,154
Cash Outflows
Payment of Expenses 22,631,452 22,937,660 21,152,543 21,213,822 - -
Prepayments 14,362,025 15,357,756 122,227 136,956 - -
Refund of Deposits 18,040 368 18,040 368 - -
Payments of Accounts Payable 97,278,914 88,099,842 97,272,694 88,087,180 - -
and Mandatory Deductions 12,949,628 13,588,759 3,993,606 3,796,134 - -
Contribution 52,885 92,062 52,885 92,062 - -
Release of Inter-Agency Fund Transfers 18,260 19,622 18,260 19,622 - -
Release of Loans (Financial Institutions) 88,358,145 82,064,576 88,358,145 82,064,576 - -
Total Cash Outflows 417,229,121 362,343,566 392,085,480 334,523,496 455,459 422,587
Adjustments 275,290 298,122 275,290 298,122 238,579 244,823
Adjusted Cash Outflows 417,504,410 362,641,687 392,360,770 334,821,618 694,038 667,410

Activities (7,535,341) 9,484,124 (12,496,380) 14,616,433 74,341 2,191,744
Cash Inflows
Property 586,551 652,312 586,551 652,312 - -
Proceeds from Sale/Disposal of Property, Plant
and Equipment 2,409 6,337 2,409 6,337 - -
Sale of Investments 43,463,378 59,636,012 42,870,313 59,636,012 35,364 285,281
Receipt of Interest Earned 47,352,750 43,266,009 47,347,825 43,261,843 - -
Receipt of Cash Dividends 3,679,531 3,426,107 3,679,531 3,426,107 - -
Collection of Long-Term Loans 126,809,892 115,137,544 126,809,892 115,137,396 - -
Proceeds from Sale of Other Assets 859 - 859 - 859 -
Total Cash Inflows 427,610,061 472,629,540 427,012,070 472,625,225 36,223 285,281
Adjustments (Please specify) 3,026,996 7 3,026,996 7 - -
Adjusted Cash Inflows 430,637,057 472,629,547 430,039,066 472,625,232 36,223 285,281
Cash Outflows
and Equipment 899,773 1,730,409 842,659 1,670,667 209 464
Purchase/Acquisition of Investments 285,903,588 389,841,724 285,210,083 389,429,770 85,211 1,498,176
Grant of Loans 132,410,372 142,574,585 132,410,372 142,574,585 - -
Total Cash Outflows 419,269,436 534,285,395 418,518,816 533,813,699 85,421 1,498,640
755
(in thousand pesos)
Total GBE AFPRSBS

2017 2016 2017 2016 2017 2016
Adjustments (Please specify) 1,277,871 5,079,746 1,277,871 5,079,746 - 902

Adjusted Cash Outflows 420,547,307 539,365,141 419,796,688 538,893,445 85,421 1,499,542

Activities 10,089,750 (66,735,594) 10,242,378 (66,268,212) (49,198) (1,214,261)
Cash Inflows
Acceptances Payable - 435,290 - 435,290 - -
Proceeds from Domestic and Foreign Loans 972,183 1,010,869 972,183 1,010,869 - -
Equity/Contribution from National Government 36,107,447 37,248,539 36,107,447 37,248,539 80 419,231
other Equity Securities 12,750 11,246 12,750 11,246 - -
Total Cash Inflows 37,092,380 38,705,943 37,092,380 38,705,943 80 419,231
Adjusted Cash Inflows 37,092,380 38,705,943 37,092,380 38,705,943 80 419,231
Cash Outflows
Payment of Long-Term Liabilities 2,486,302 1,387,152 2,486,302 1,387,151 - -
Subordinated Debt/Payment of Acceptances
Payable 135,170 230,855 135,170 230,855 - -
Payment for Reacquisition of Capital Stock and
Other Equity Securities 10,563,353 11,987,998 10,563,353 11,987,998 404,478 763,265
Financial Charges 545,985 458,992 545,985 458,992 167,782 161,979
to GOCCs Income 530,524 518,551 366,854 350,228 - -

Activities 22,810,871 24,038,678 22,974,542 24,207,002 (572,179) (506,013)

EQUIVALENTS 25,365,280 (33,212,792) 20,720,540 (27,444,777) (547,036) 471,470
Effects of Exchange Rate Changes on Cash

and Cash Equivalents 51,068 21,520 51,068 21,520 - -
CASH AND CASH EQUIVALENTS, JANUARY 1 52,572,741 85,764,013 45,561,293 72,984,550 588,792 117,322
CASH AND CASH EQUIVALENTS, DECEMBER 31 77,989,089 52,572,741 66,332,902 45,561,293 41,756 588,792
756
(in thousand pesos)
SUMSI GSIS HDMF

2017 2016 2017 2016 2017 2016
Cash Inflows
Proceeds from Sale of Goods and Services 28,557 29,054 - - - -
Collection of Income/Revenue - - 107,232,876 96,741,046 33,503,034 30,776,008
Collection of Receivables 6,688 8,558 1,048,667 1,253,341 46,206,426 39,590,994
Receipt of Inter-Agency Fund Transfers - - 82,693 117,729 - -
Trust Receipts - - 492,942 148,269 - -
Other Receipts 306 70 52,129 38,011 2,559,916 1,656,168
Total Cash Inflows 35,551 37,682 108,909,307 98,298,396 82,269,377 72,023,171
Adjustments - - 50,435 33,676 - -
Cash Outflows
Payment of Expenses 19,328 19,826 3,122,544 3,468,198 7,064,171 7,138,154
Purchase of Inventories 835 993 74,458 73,704 227,201 214,876
Grant of Cash Advances 1,580 1,228 - - - -
Payments of Accounts Payable - - 97,272,694 88,087,180 - -
and Mandatory Deductions 3,860 3,600 2,327,065 2,404,819 1,491,706 1,247,952
Contribution - - 52,885 92,062 - -
Release of Loans (Financial Institutions) - - - - 86,069,251 80,302,510
Other Disbursements 231 244 1,218,880 615,051 5,614,602 1,721,625
Adjustments - - 33,676 52,956 - -

Activities 9,717 11,793 4,857,541 3,538,102 (18,197,553) (18,601,946)
Cash Inflows
Property - - 70,706 34,234 512,696 613,008
and Equipment - - - - 2,274 6,337
Sale of Investments 20,761 11,435 29,298,145 38,955,567 7,088,519 13,205,893
Receipt of Interest Earned - - 47,234,864 43,107,191 - -
Receipt of Cash Dividends - - 3,679,301 3,425,958 231 149
Proceeds from Matured Investments/Redemption - - 85,071,691 68,198,181 104,183,549 179,159,902
Collection of Long-Term Loans - - 126,809,892 115,137,396 - -
Proceeds from Sale of Other Assets - - - - - -
Cash Outflows
and Equipment 580 1,573 296,922 485,395 312,025 248,224
Purchase/Acquisition of Investments 24,164 17,499 154,977,887 176,556,801 113,462,665 199,455,148
Purchase of Intangible Assets - - - - 38,792 372
Grant of Loans - - 132,402,172 118,658,490 - -
757
(in thousand pesos)
SUMSI GSIS HDMF

2017 2016 2017 2016 2017 2016


Activities (3,983) (7,637) 4,487,618 (26,842,159) (2,026,213) (6,718,454)
Cash Inflows
Equity/Contribution from National Government - - - - 33,710,936 35,960,598
Cash Outflows
Payment of Long-Term Liabilities - - - - - -
Payable - - - - - -
Other Equity Securities - - - - 9,943,955 10,994,374
Financial Charges - - - - - -
to GOCCs Income 6,500 2,000 - - - -
Total Cash Outflows 6,500 2,000 - - 9,943,955 10,994,374
Adjusted Cash Outflows 6,500 2,000 - - 9,943,955 10,994,374

Activities (6,500) (2,000) - - 23,766,982 24,966,225

EQUIVALENTS (766) 2,155 9,345,159 (23,304,058) 3,543,216 (354,176)

and Cash Equivalents - - 38,784 9,175 12,276 12,138
CASH AND CASH EQUIVALENTS, JANUARY 1 6,335 4,180 15,678,183 38,973,066 4,666,192 5,008,230
CASH AND CASH EQUIVALENTS, DECEMBER 31 5,569 6,335 25,062,127 15,678,183 8,221,684 4,666,192
758
(in thousand pesos)
HGC NHMFC SHFC

2017 2016 2017 2016 2017 2016
Cash Inflows
Proceeds from Sale of Goods and Services - - - - - -
Receipt of Assistance/Subsidy - - - - - 360,360
Collection of Receivables 182,003 182,854 1,781,883 1,879,085 6,432 5,492
Receipt of Inter-Agency Fund Transfers - - - - 2,259,704 2,994,268
Receipt of Intra-Agency Fund Transfers - - 1,031 1,249 - -
Trust Receipts 81,346 76,740 286,693 284,700 155,294 131,886
Other Receipts 191,864 153,954 738 - 4,151 1,647
Adjustments 1,225 130,780 - - - -
Cash Outflows
Purchase of Inventories 9,888 11,429 3,086 2,294 3,380 4,211
Grant of Cash Advances - - 700 6,330 - -
Prepayments 48,458 19,318 - - 58,749 61,537
Refund of Deposits - - - - 16,190 222
and Mandatory Deductions 59,543 67,220 - - 108,564 67,951
Release of Inter-Agency Fund Transfers - - 299 261 17,961 19,091
Other Disbursements 36,484 44,111 567,594 903,149 2,152,517 2,029,165

Activities 1,503,769 1,350,946 995,891 823,945 707,691 1,884,281
Cash Inflows
Sale of Investments - - 5,400,071 6,422,986 - -
Receipt of Interest Earned 310 4,373 49,542 78,672 63,108 71,607
Proceeds from Matured Investments/Redemption - 491 - - 802,108 -
Total Cash Inflows 310 4,864 5,449,614 6,501,658 865,216 71,607
Adjustments (Please specify) - - - - 3,026,996 -
Adjusted Cash Inflows 310 4,864 5,449,614 6,501,658 3,892,212 71,607
Cash Outflows
and Equipment 8,561 3,094 31,835 69,854 22,645 591,790
Purchase/Acquisition of Investments 71,703 43,370 7,202,374 7,914,757 4,977,625 -
Purchase of Intangible Assets 1,197 - 268 - - -
Grant of Loans - - - - 8,200 5,340
Total Cash Outflows 81,461 46,464 7,234,477 7,984,611 5,008,470 597,130
759
(in thousand pesos)
HGC NHMFC SHFC

2017 2016 2017 2016 2017 2016
Adjustments (Please specify) 1,277,871 2,853,798 - - - 2,225,046


Activities (1,359,022) (2,895,398) (1,784,864) (1,482,952) (1,116,258) (2,750,569)
Cash Inflows
Acceptances Payable - - - 435,290 - -
Equity/Contribution from National Government - - 2,226,700 750,000 - -
Total Cash Inflows - - 2,226,700 1,185,290 - -
Adjusted Cash Inflows - - 2,226,700 1,185,290 - -
Cash Outflows
Payment of Long-Term Liabilities 1,100,000 - 351,360 466,584 9,873 9,828
Payable 135,170 230,855 - - - -
Other Equity Securities - - - - - -
to GOCCs Income 120,895 210,456 154,746 68,693 84,713 69,080
Total Cash Outflows 1,556,659 542,070 581,595 623,927 99,631 84,311
Adjustments (Please specify) - - - - 20,174 83,717
Adjusted Cash Outflows 1,556,659 542,070 581,595 623,927 119,806 168,029

Activities (1,556,659) (542,070) 1,645,105 561,362 (119,806) (168,029)

EQUIVALENTS (1,411,912) (2,086,523) 856,132 (97,645) (528,372) (1,034,317)

and Cash Equivalents 6 133 - - - -
CASH AND CASH EQUIVALENTS, JANUARY 1 2,430,722 4,517,112 954,807 1,052,452 2,669,565 3,703,881
CASH AND CASH EQUIVALENTS, DECEMBER 31 1,018,815 2,430,722 1,810,939 954,807 2,141,192 2,669,565
760
(in thousand pesos)
PDGCC SBGFC SSS

2017 2016 2017 2016 2017 2016
Cash Inflows
Collection of Income/Revenue 10,716 1,275 298,038 282,346 176,088,966 165,072,318
Receipt of Assistance/Subsidy - - 1,686,920 - - -
Collection of Receivables 54,646 62,660 1,809,266 1,819,519 - -
Receipt of Inter-Agency Fund Transfers - - - - - -
Trust Receipts 56 191 - - - -
Other Receipts 1,183 738 17,704 36,440 - -
Adjustments 32 3,035 - - - -
Cash Outflows
Payment of Expenses 49,626 54,366 232,418 196,729 9,161,586 8,968,782
Prepayments 293 14,011 11,490 35,867 - -
and Mandatory Deductions 2,869 4,593 - - - -
Release of Loans (Financial Institutions) - - 2,288,894 1,762,066 - -
Other Disbursements 1,231 1,159 - - 170,684,504 132,977,719
Adjustments 3,035 343 - - - -

Activities 9,580 (6,572) 1,279,126 143,642 (3,757,125) 23,125,817
Cash Inflows
Property - - 3,149 5,071 - -
Sale of Investments - - 1,027,452 754,849 - -
Proceeds from Matured Investments/Redemption - - - - 12,957,657 -
Total Cash Inflows - - 1,030,736 759,920 12,957,657 -
Adjustments (Please specify) - 7 - - - -
Adjusted Cash Inflows - 7 1,030,736 759,920 12,957,657 -
Cash Outflows
Purchase/Construction of Investment Property - - 1,062 2,501 - -
and Equipment 82 222 4,471 3,780 163,204 260,379
Purchase/Acquisition of Investments - - 1,484,521 891,927 - -
Purchase of Intangible Assets - - - - 14,382 135,727
Grant of Loans - - - - - 23,910,755
Total Cash Outflows 82 222 1,490,054 898,208 177,586 24,306,861
761
(in thousand pesos)
PDGCC SBGFC SSS

2017 2016 2017 2016 2017 2016

Adjusted Cash Outflows 82 222 1,490,054 898,208 177,586 24,306,861

Activities (82) (215) (459,318) (138,288) 12,780,071 (24,306,861)
Cash Inflows
Proceeds from Domestic and Foreign Loans - - 972,183 1,010,869 - -
Equity/Contribution from National Government - - - - 169,731 118,710
other Equity Securities - - - - 12,750 11,246
Total Cash Inflows - - 972,183 1,010,869 182,481 129,956
Adjusted Cash Inflows - - 972,183 1,010,869 182,481 129,956
Cash Outflows
Payment of Long-Term Liabilities - - 982,319 865,739 - -
Payable - - - - - -
Other Equity Securities - - - - 214,921 230,360
Financial Charges - - 52,778 54,455 - -
to GOCCs Income - - - - - -
Total Cash Outflows - - 1,035,097 920,194 214,921 230,360
Adjusted Cash Outflows - - 1,035,097 920,194 214,921 230,360

Activities - - (62,914) 90,674 (32,440) (100,404)

EQUIVALENTS 9,498 (6,787) 756,894 96,028 8,990,506 (1,281,448)

and Cash Equivalents - - 0 2 - -
CASH AND CASH EQUIVALENTS, JANUARY 1 20,543 27,331 251,939 155,909 17,830,920 19,112,368
CASH AND CASH EQUIVALENTS, DECEMBER 31 30,041 20,543 1,008,833 251,939 26,821,426 17,830,920
762
(in thousand pesos)
TIDCORP Non-GBE ECC

2017 2016 2017 2016 2017 2016
Cash Inflows
Receipt of Assistance/Subsidy - - 19,557,279 12,040,104 - -
Collection of Receivables 57,941 162,140 10,283,722 10,353,885 16,393 14,333
Receipt of Inter-Agency Fund Transfers 4,770 8,999 - - - -
Trust Receipts 221 1,046 190 136 - -
Other Receipts 10,564 49,892 25,298 6,563 2,295 1,745
Total Cash Inflows 214,813 387,559 30,104,680 22,687,760 120,982 142,468
Adjusted Cash Inflows 214,813 387,559 30,104,680 22,687,760 120,982 142,468
Cash Outflows
Payment of Expenses 144,633 143,335 1,478,909 1,723,838 139,263 99,839
Grant of Cash Advances 154 546 - - - -
Prepayments 3,237 6,224 14,239,798 15,220,800 - -
Refund of Deposits 1,850 146 - - - -
Payments of Accounts Payable - - 6,221 12,662 - -
and Mandatory Deductions - - 8,956,022 9,792,625 - -
Release of Inter-Agency Fund Transfers - 270 - - - -
Other Disbursements 44,297 82,356 462,691 1,070,145 - -
Total Cash Outflows 194,172 232,876 25,143,641 27,820,070 139,263 99,839
Adjusted Cash Outflows 194,172 232,876 25,143,641 27,820,070 139,263 99,839

Activities 20,641 154,683 4,961,039 (5,132,309) (18,281) 42,629
Cash Inflows
Sale of Investments - - 593,065 - 434,923 -
Proceeds from Matured Investments/Redemption 2,699,685 3,146,644 - - - -
Collection of Long-Term Loans - - - 148 - 148
Cash Outflows
and Equipment 2,123 5,893 57,114 59,742 6,481 1,068
Purchase/Acquisition of Investments 2,923,934 3,052,091 693,505 411,954 427,497 411,954
Purchase of Intangible Assets - 76 - - - -
Grant of Loans - - - - - -
763
(in thousand pesos)
TIDCORP Non-GBE ECC

2017 2016 2017 2016 2017 2016


Activities (226,372) 88,583 (152,629) (467,381) 4,213 (408,707)
Cash Inflows
Equity/Contribution from National Government - - - - - -
Cash Outflows
Payment of Long-Term Liabilities 42,750 45,000 - 1 - -
Payable - - - - - -
Financial Charges 44,298 47,743 - - - -
to GOCCs Income - - 163,670 168,323 - -
Total Cash Outflows 87,048 92,743 163,670 168,325 - -
Adjusted Cash Outflows 87,048 92,743 163,670 168,325 - -

Activities (87,048) (92,743) (163,670) (168,325) - -

EQUIVALENTS (292,779) 150,523 4,644,740 (5,768,015) (14,068) (366,078)

and Cash Equivalents 2 73 - - - -
CASH AND CASH EQUIVALENTS, JANUARY 1 463,295 312,700 7,011,448 12,779,463 25,950 392,028
CASH AND CASH EQUIVALENTS, DECEMBER 31 170,519 463,295 11,656,188 7,011,448 11,882 25,950
764
(in thousand pesos)
NHA OSHC
2017 2016 2017 2016
(Restated)
Cash Inflows
Proceeds from Sale of Goods and Services - - - -
Collection of Income/Revenue - - 135,897 160,682
Receipt of Assistance/Subsidy 19,557,279 12,040,104 - -
Collection of Receivables 10,261,630 10,333,050 5,699 6,502
Receipt of Inter-Agency Fund Transfers - - - -
Trust Receipts - - 190 136
Other Receipts 17,636 189 5,367 4,630
Total Cash Inflows 29,836,546 22,373,342 147,152 171,950
Adjustments - - - -
Adjusted Cash Inflows 29,836,546 22,373,342 147,152 171,950
Cash Outflows
Payment of Expenses 1,245,964 1,533,731 93,682 90,268
Purchase of Inventories - - - -
Grant of Cash Advances - - - -
Prepayments 14,239,368 15,220,164 429 636
Refund of Deposits - - - -
Payments of Accounts Payable - - 6,221 12,662
and Mandatory Deductions 8,937,574 9,771,446 18,449 21,179
Contribution - - - -
Release of Inter-Agency Fund Transfers - - - -
Other Disbursements 461,483 1,070,784 1,208 (638)
Total Cash Outflows 24,884,389 27,596,124 119,989 124,107
Adjustments - - - -
Adjusted Cash Outflows 24,884,389 27,596,124 119,989 124,107

Activities 4,952,157 (5,222,782) 27,163 47,844
Cash Inflows
Property - - - -
and Equipment - - - -
Sale of Investments 158,142 - - -
Receipt of Interest Earned - - 1,657 -
Proceeds from Matured Investments/Redemption - - - -
Proceeds from Sale of Other Assets - - - -
Total Cash Inflows 158,142 - 1,657 -
Adjusted Cash Inflows 158,142 - 1,657 -
Cash Outflows
and Equipment 20,077 41,045 30,556 17,629
Purchase/Acquisition of Investments - - 266,008 -
Purchase of Intangible Assets - - - -
Grant of Loans - - - -
765
(in thousand pesos)
NHA OSHC
2017 2016 2017 2016
(Restated)


Activities 138,066 (41,045) (294,907) (17,629)
Cash Inflows
Proceeds from Domestic and Foreign Loans - - - -
Equity/Contribution from National Government - - - -
other Equity Securities - - - -
Total Cash Inflows - - - -
Adjusted Cash Inflows - - - -
Cash Outflows
Payment of Long-Term Liabilities - 1 - -
Payable - - - -
Other Equity Securities - - - -
Financial Charges - - - -
to GOCCs Income 163,670 168,323 - -
Total Cash Outflows 163,670 168,325 - -
Adjusted Cash Outflows 163,670 168,325 - -

Activities (163,670) (168,325) - -

EQUIVALENTS 4,926,552 (5,432,151) (267,744) 30,214

and Cash Equivalents - - - -
CASH AND CASH EQUIVALENTS, JANUARY 1 6,684,228 12,116,379 301,271 271,056
CASH AND CASH EQUIVALENTS, DECEMBER 31 11,610,780 6,684,228 33,526 301,271
766
(in thousand pesos)
Total GBE APO

2017 2016 2017 2016 2017 2016
Cash Inflows
Proceeds from Sale of Goods and Services 10,655,880 7,461,607 9,554,282 7,229,598 3,533,045 1,559,814
Receipt of Assistance/Subsidy 4,941,681 7,097,937 18,044 10,573 - -
Collection of Receivables 71,249,871 69,410,078 6,538,985 6,157,801 36,998 26,956
Receipt of Inter-Agency Fund Transfers 128,401 1,977,806 54,370 55,047 - -
Trust Receipts 12,250,990 8,304,842 3,606,274 4,950,985 - -
Other Receipts 7,322,051 4,774,234 6,247,973 3,864,005 504,746 480,848
Adjustments 266,045 216,632 212,759 101,451 - -
Cash Outflows
Payment of Expenses 85,603,081 84,055,713 23,638,754 21,054,650 54,092 93,862
Purchase of Inventories 5,341,653 4,786,784 2,088,627 2,256,094 - -
Prepayments 3,912,046 2,410,459 3,911,002 2,409,479 - -
Refund of Deposits 84,689 89,765 41,852 36,626 - -
and Mandatory Deductions 5,846,706 6,829,193 3,612,174 3,309,478 85,431 152,464
Contribution 5,192,950 3,808,779 4 7,130 - -
Release of Inter-Agency Fund Transfers 2,532,269 2,864,463 130,425 97,409 - -
Release of Intra-Agency Fund Transfers 5,549,038 1,730,393 580,114 679,510 - -
Release of Loans (Financial Institutions) - 526 - 526 - -
Adjustments 226,481 726,776 260,722 80,428 235,865 -

Activities 83,292,814 84,482,964 19,413,861 19,611,968 (31,682) (56,640)
Cash Inflows
Property 2,591 18,047 2,591 18,047 - -
and Equipment 182,095 94,091 24,579 30,961 - -
Sale of Investments 238,744 1,196,785 238,744 1,196,785 - -
Receipt of Interest Earned 562,445 407,129 333,553 259,850 282 266
Receipt of Cash Dividends 139,468 434,041 139,468 434,041 99,638 29,406
Proceeds from Sale of Other Assets 8,391 19,876 7,800 18,814 - -
Cash Outflows
and Equipment 11,844,208 12,020,890 9,336,058 9,804,222 3,667 49,120
Purchase/Acquisition of Investments 20,556,410 3,342,658 8,446,568 2,559,640 - -
Grant of Loans 504,725 299,419 - 45 - -
767
(in thousand pesos)
Total GBE APO

2017 2016 2017 2016 2017 2016

Activities (16,896,456) (12,339,179) (16,204,246) (10,042,116) 96,253 (19,447)
Cash Inflows
Proceeds from Incurrence of Financial Liabilities 594 1,686 594 1,686 - -
Acceptances Payable 58 52 58 52 - -
Proceeds from Domestic and Foreign Loans 16,864,711 2,752,454 1,825,864 2,061,578 - 14,910
Equity/Contribution from National Government 4,058,458 14,176,570 23,397 17,746 - -
Total Cash Inflows 20,923,821 16,930,763 1,849,913 2,081,062 - 14,910
Adjusted Cash Inflows 21,010,528 16,989,680 1,936,563 2,139,980 - 14,910
Cash Outflows
Payment of Long-Term Liabilities 49,762,668 33,958,035 2,760,965 3,342,526 3,402 33,942
Payable 21,388,835 38,728,563 3,873 1 - -
and Other Equity Securities 38 367 38 367 - -
Financial Charges 18,948,240 21,091,504 497,061 565,569 283 1,147
Payment of Cash Dividends/Share of NG to
GOCCs Income 4,950,921 4,321,562 2,908,821 3,490,535 - -

Activities (74,065,217) (81,134,493) (4,259,177) (5,283,035) (3,685) (20,180)

EQUIVALENTS (7,668,859) (8,990,709) (1,049,562) 4,286,817 60,886 (96,267)

Cash Equivalents (2,957) 101,515 (2,275) 135,281 - -
768
(in thousand pesos)

2017 2016 2017 2016 2017 2016
Cash Inflows
Collection of Receivables 70 15 40,815 9,013 799 3,261
Trust Receipts 14,174 117,982 4,999 3,047 513 -
Other Receipts 2,336 2,755 46,905 63,784 5,716 7,997
Adjustments - - 135 - - -
Cash Outflows
Grant of Cash Advances 4,306 5,474 5,409 7,702 1,432 1,772
Prepayments - - 16,058 50,814 5 41
Refund of Deposits - - 4,373 329 242 -
Payments of Accounts Payable 101,154 90,298 1,440 4,971 - -
and Mandatory Deductions 404,013 377,501 18,705 21,045 22,703 12,887
Release of Inter-Agency Fund Transfers - - 24,478 23,626 - -
Other Disbursements (817) 6,704 - 385 - -
Total Cash Outflows 998,813 965,066 275,908 313,317 85,509 75,481
Adjustments (74,592) (8,389) 11,597 2,598 - 134
Adjusted Cash Outflows 924,221 956,677 287,505 315,915 85,509 75,615

Activities 861,293 1,010,854 141,499 66,798 41,333 39,253
Cash Inflows
Property - - 2,246 10,000 - -
Receipt of Cash Dividends - - 7,336 372,094 - -
Proceeds from Matured Investments/Redemption - - 839,338 488,050 - -
Collection of Long-Term Loans 106 3,444 - - - -
Proceeds from Sale of Other Assets - - 184 - - -
Total Cash Inflows 106 3,444 1,060,440 1,092,021 11,025 5,272
Adjustments (Please specify) - - 1,898 - - -
Adjusted Cash Inflows 106 3,444 1,062,338 1,092,021 11,025 5,272
Cash Outflows
Purchase/Construction of Investment Property - - 580 2,565 - -
and Equipment 507,208 388,639 7,200 8,772 433 3,155
Purchase/Acquisition of Investments - - 1,005,651 912,916 158,460 207,079
Total Cash Outflows 507,208 388,639 1,013,432 924,253 158,892 210,234
Adjustments (Please specify) - - - 213 - -
769
(in thousand pesos)

2017 2016 2017 2016 2017 2016
Adjusted Cash Outflows 507,208 388,639 1,013,432 924,466 158,892 210,234

Activities (507,102) (385,195) 48,906 167,555 (147,867) (204,963)
Cash Inflows
Proceeds from Incurrence of Financial Liabilities - - - - - -
Cash Outflows
Payable - - - - - -
GOCCs Income 294,690 335,551 137,181 271,799 - 4,000
Total Cash Outflows 294,690 335,551 137,181 271,799 - 4,000
Adjusted Cash Outflows 294,690 335,551 137,181 271,799 - 4,000

Activities (294,690) (335,551) (137,181) (271,799) - (4,000)

EQUIVALENTS 59,500 290,107 53,224 (37,446) (106,534) (169,710)

770
(in thousand pesos)

2017 2016 2017 2016 2017 2016
Cash Inflows
Proceeds from Sale of Goods and Services 1,548 1,378 4,189,825 3,906,198 13,681 515
Collection of Income/Revenue 14,441 15,051 2,761 882 11,413 17,593
Collection of Receivables 44,406 42,352 7,113 5,115 337 -
Trust Receipts - - 5,760 28,741 - -
Other Receipts - - - - 276 927
Adjustments - - - - 416 623
Cash Outflows
Grant of Cash Advances - - 2,515 281 - -
Prepayments - - 17,037 6,783 - -
Refund of Deposits - - - 123 - -
Payments of Accounts Payable 2,244 1,657 233,343 210,777 - -
Other Disbursements - - 801,440 588,743 - -

Activities 44,932 27,962 2,084,996 1,832,702 (32,483) (8,201)
Cash Inflows
and Equipment - 7,400 3,110 340 - -
Sale of Investments 230,972 1,184,021 - - - -
Proceeds from Matured Investments/Redemption - - 624 173,182 100,000 -
Total Cash Inflows 233,049 1,196,542 89,272 179,486 100,000 -
Adjusted Cash Inflows 233,049 1,196,542 89,272 179,486 100,000 -
Cash Outflows
and Equipment - - 79,810 67,751 39,152 51,313
Purchase/Acquisition of Investments 280,167 1,224,734 4,631,302 15,683 37,100 -
Total Cash Outflows 280,167 1,224,734 4,711,112 83,434 76,252 51,313
771
(in thousand pesos)

2017 2016 2017 2016 2017 2016
Adjusted Cash Outflows 280,167 1,224,734 4,711,112 83,434 76,252 51,313

Activities (47,119) (28,192) (4,621,840) 96,052 23,748 (51,313)
Cash Inflows
Cash Outflows
Payable - - - - - -
GOCCs Income - - 520,521 720,722 - -
Total Cash Outflows - - 520,521 720,722 - -
Adjusted Cash Outflows - - 520,521 720,722 - -

Activities - - (520,521) (720,722) - -

EQUIVALENTS (2,187) (230) (3,057,365) 1,208,032 (8,735) (59,514)

Cash Equivalents - - (2,299) 134,059 - -
772
(in thousand pesos)

2017 2016 2017 2016 2017 2016
Cash Inflows
Collection of Income/Revenue 150 1 15,182,310 13,870,451 3,273 3,821
Collection of Receivables 178 4 39,820 - - -
Trust Receipts - - 3,365,248 4,659,998 - -
Other Receipts - - 4,945,828 2,312,483 720 827
Total Cash Inflows 328 5 23,533,207 20,842,932 3,993 4,649
Adjustments - - - - - 5
Adjusted Cash Inflows 328 5 23,533,207 20,842,932 3,993 4,654
Cash Outflows
Payment of Expenses 1,137 904 8,551,449 6,566,567 3,877 4,201
Purchase of Inventories - - - 13,439 - -
Grant of Cash Advances - - 2,681 64,191 - 8
Prepayments - 1,065 3,795,988 2,290,380 - -
Refund of Deposits - 1,750 954 640 - -
Payments of Accounts Payable - - - - - 260
and Mandatory Deductions 43 46 424,846 376,830 179 228
Contribution - - - 7,130 - -
Release of Inter-Agency Fund Transfers - - 339 960 - -
Release of Intra-Agency Fund Transfers - - 477,177 540,531 - -
Other Disbursements - - 1,295,467 2,416,367 277 257

Activities (851) (3,759) 8,984,305 8,565,895 (340) (300)
Cash Inflows
and Equipment 196 - - - 15,798 -
Total Cash Inflows 196 - - - 15,798 -
Adjusted Cash Inflows 196 - - - 15,798 -
Cash Outflows
and Equipment - - 4,239,324 4,877,563 - -
Purchase/Acquisition of Investments - - 1,598,805 - - -
Total Cash Outflows - - 5,838,129 4,877,563 - -
773
(in thousand pesos)

2017 2016 2017 2016 2017 2016
Adjusted Cash Outflows - - 5,838,129 4,877,563 - -

Activities 196 - (5,838,129) (4,877,563) 15,798 -
Cash Inflows
Proceeds from Domestic and Foreign Loans 489 3,445 - - - -
Total Cash Inflows 489 3,445 - - - -
Adjusted Cash Inflows 489 3,445 - - - -
Cash Outflows
Payable - - - - - -
GOCCs Income - - 1,956,429 2,158,463 - -

Activities 489 3,445 (2,375,215) (2,544,641) - -

EQUIVALENTS (166) (314) 770,961 1,143,691 15,458 (300)

Cash Equivalents - - 24 1,279 - -
CASH AND CASH EQUIVALENTS, JANUARY 1 249 563 5,519,816 4,374,846 364 664
CASH AND CASH EQUIVALENTS, DECEMBER 31 82 249 6,290,801 5,519,816 15,822 364
774
(in thousand pesos)

2017 2016 2017 2016 2017 2016
Cash Inflows
Proceeds from Sale of Goods and Services 1,816,182 1,761,692 1,101,598 232,009 - -
Receipt of Assistance/Subsidy 18,044 10,573 4,923,637 7,087,364 819,389 1,864,711
Collection of Receivables 6,368,449 6,071,085 64,710,886 63,252,277 - -
Receipt of Inter-Agency Fund Transfers 54,370 55,047 74,031 1,922,759 - 976,879
Receipt of Intra-Agency Fund Transfers 92,304 142,653 696,313 771,311 696,313 771,311
Trust Receipts 215,581 141,217 8,644,716 3,353,857 21,509 1,944
Other Receipts 741,445 994,385 1,074,079 910,228 39 323
Adjustments 212,208 100,823 53,286 115,181 - -
Cash Outflows
Purchase of Inventories 1,212,737 1,336,867 3,253,026 2,530,691 126,142 69,801
Prepayments 81,914 60,396 1,044 980 - -
Refund of Deposits 36,283 33,783 42,837 53,140 - -
Payments of Accounts Payable 1,749,472 1,723,082 3,029,836 4,002,402 - -
and Mandatory Deductions 2,564,483 2,262,933 2,234,532 3,519,714 - -
Contribution 4 - 5,192,946 3,801,649 - -
Release of Inter-Agency Fund Transfers 63,954 66,603 2,401,844 2,767,054 - -
Release of Intra-Agency Fund Transfers 102,937 138,979 4,968,924 1,050,883 4,968,924 1,050,883
Release of Loans (Financial Institutions) - 526 - - - -
Other Disbursements 1,740,763 1,444,878 11,462,800 7,139,688 - -
Adjustments 87,853 86,085 (34,240) 646,348 - -

Activities 7,320,860 8,137,405 63,878,953 64,870,996 (3,257,918) 2,694,968
Cash Inflows
Property 345 8,047 - - - -
and Equipment 5,475 23,221 157,516 63,130 - -
Sale of Investments 7,772 12,764 - - - -
Receipt of Cash Dividends 32,495 32,541 - - - -
Proceeds from Matured Investments/Redemption 750,511 698,897 13,658,290 159,359 - -
Proceeds from Sale of Other Assets 7,616 18,814 591 1,062 - -
Total Cash Inflows 828,515 821,001 14,155,601 1,220,184 - -
Adjusted Cash Inflows 1,101,807 866,237 14,498,742 1,566,306 - -
Cash Outflows
and Equipment 4,459,264 4,357,908 2,508,150 2,216,669 478,631 252,586
Purchase/Acquisition of Investments 735,083 199,229 12,109,842 783,017 - -
Purchase of Intangible Assets 5,462 2,027 - - - -
Grant of Loans - 45 504,725 299,375 - -
Adjustments (Please specify) 1,114,157 1,032,061 75 - - -
775
(in thousand pesos)

2017 2016 2017 2016 2017 2016

Activities (5,227,090) (4,739,050) (692,210) (2,297,062) (478,631) (252,586)
Cash Inflows
Proceeds from Incurrence of Financial Liabilities 594 1,686 - - - -
Acceptances Payable 58 52 - - - -
Proceeds from Domestic and Foreign Loans 1,825,375 2,043,223 15,038,847 690,876 - -
Equity/Contribution from National Government 23,397 17,746 4,035,060 14,158,824 - -
Total Cash Inflows 1,849,424 2,062,707 19,073,908 14,849,700 - -
Adjustments (Please specify) 86,649 58,918 58 - - -
Adjusted Cash Inflows 1,936,074 2,121,625 19,073,965 14,849,700 - -
Cash Outflows
Payment of Long-Term Liabilities 2,338,777 2,922,405 47,001,703 30,615,510 667,530 1,134,722
Payable 3,873 1 21,384,962 38,728,562 - -
and Other Equity Securities 38 367 - - - -
Financial Charges 496,778 564,423 18,451,179 20,525,935 237,278 71,823
GOCCs Income - - 2,042,099 831,028 - -
Total Cash Outflows 2,839,466 3,487,195 88,879,943 90,701,034 904,807 1,206,545
Adjustments (Please specify) 24,981 24,017 62 125 - -
Adjusted Cash Outflows 2,864,447 3,511,213 88,880,005 90,701,159 904,807 1,206,545

Activities (928,373) (1,389,587) (69,806,040) (75,851,459) (904,807) (1,206,545)

EQUIVALENTS 1,165,397 2,008,768 (6,619,297) (13,277,525) (4,641,357) 1,235,837

Cash Equivalents - (57) (682) (33,766) - -
CASH AND CASH EQUIVALENTS, DECEMBER 31 11,616,303 10,450,906 50,689,343 57,309,322 397,336 5,038,693
776
(in thousand pesos)
LWUA MWSS NEA

2017 2016 2017 2016 2017 2016
(Restated)
Cash Inflows
Receipt of Assistance/Subsidy - - - - 1,850,736 3,146,186
Collection of Receivables 550,980 723,622 2,229,427 2,670,757 2,631,113 2,679,285
Trust Receipts - - - - 207,510 3,832
Other Receipts - - 111,746 147,269 37,396 899
Adjustments 3,193 (29,910) - - 27,662 140,764
Cash Outflows
Purchase of Inventories 9,294 5,576 - - 1,504 3,061
Prepayments 1,044 980 - - - -
Refund of Deposits - 10,930 - - - -
Payments of Accounts Payable - - - - 76,686 117,603
Contribution - - 194 - 2,064,755 2,067,412
Release of Inter-Agency Fund Transfers - 32,361 - - 742 1,102
Other Disbursements - 185,875 10,330 10,873 2,678,764 3,202,454
Adjustments 24 1 - - - 367,718

Activities 836,692 1,652,079 2,239,678 2,712,467 (351,473) (74,203)
Cash Inflows
and Equipment - 100 - - - -
Receipt of Interest Earned 11,296 14,460 - - - -
Proceeds from Matured Investments/Redemption - 159,359 - - - -
Total Cash Inflows 121,609 1,023,274 - - - -
Adjustments (Please specify) (15,387) (238) - - - -
Adjusted Cash Inflows 106,222 1,023,036 - - - -
Cash Outflows
Purchase/Construction of Investment Property - - 68,160 564,308 - -
and Equipment 5,380 3,033 24,940 504,610 5,358 8,433
Purchase/Acquisition of Investments - - 73,547 18,447 - -
Grant of Loans 504,725 299,375 - - - -
Total Cash Outflows 510,105 302,407 166,647 1,087,365 5,358 8,433
777
(in thousand pesos)
LWUA MWSS NEA

2017 2016 2017 2016 2017 2016
(Restated)
Adjusted Cash Outflows 510,105 302,407 166,647 1,087,365 5,358 8,433

Activities (403,883) 720,629 (166,647) (1,087,365) (5,358) (8,433)
Cash Inflows
Proceeds from Domestic and Foreign Loans - 185,875 38,847 505,002 - -
Total Cash Inflows - 185,875 38,847 505,002 - -
Adjusted Cash Inflows - 185,875 38,847 505,002 - -
Cash Outflows
Payment of Long-Term Liabilities 592,326 616,039 1,122,683 1,222,538 33,187 74,635
Payable - - - - - -
Financial Charges 121,750 138,971 310,796 406,670 - -
GOCCs Income 319,076 223,427 232,633 150,000 69,989 118,136
Total Cash Outflows 1,033,152 978,437 1,666,112 1,779,207 103,176 192,771
Adjusted Cash Outflows 1,033,152 978,437 1,666,112 1,779,207 103,176 192,771

Activities (1,033,152) (792,563) (1,627,264) (1,274,206) (103,176) (192,771)

EQUIVALENTS (600,343) 1,580,145 445,767 350,896 (460,006) (275,407)

778
(in thousand pesos)
NPC PNR PPC

2017 2016 2017 2016 2017 2016
Cash Inflows
Collection of Income/Revenue 14,224,961 13,637,148 257,369 290,329 3,712,745 3,788,989
Receipt of Assistance/Subsidy 1,191,680 980,822 525,295 794,645 536,537 301,000
Collection of Receivables 196,178 83,489 135,784 149,019 - -
Receipt of Inter-Agency Fund Transfers - - 3,887 34,913 - -
Trust Receipts 4,447 7,092 398 60 8,226,350 3,339,543
Other Receipts 899,562 745,619 5,734 6,110 - -
Total Cash Inflows 16,516,828 15,454,170 928,467 1,275,074 12,475,632 7,429,532
Adjustments - - 96 60 - -
Adjusted Cash Inflows 16,516,828 15,454,170 928,563 1,275,134 12,475,632 7,429,532
Cash Outflows
Payment of Expenses 1,972,391 2,721,561 891,753 1,091,439 3,538,491 3,935,660
Purchase of Inventories 3,113,451 2,448,293 - - - -
Grant of Cash Advances 40,582 53,961 2,585 - - -
Refund of Deposits 6,052 27,790 - - - -
and Mandatory Deductions 2,023,621 3,256,594 - - - -
Contribution 2,962,331 1,505,442 - - - -
Other Disbursements 24,554 46,587 - - 8,042,118 3,356,829
Total Cash Outflows 10,142,982 10,060,228 894,337 1,091,439 11,580,609 7,292,489
Adjustments - - 113 5,359 (50,513) 268,218
Adjusted Cash Outflows 10,142,982 10,060,228 894,451 1,096,798 11,530,096 7,560,707

Activities 6,373,846 5,393,943 34,112 178,336 945,536 (131,176)
Cash Inflows
and Equipment - - 16,386 11,995 - -
Proceeds from Matured Investments/Redemption 852,966 - - - - -
Proceeds from Sale of Other Assets 317 716 - - 275 346
Total Cash Inflows 1,070,878 133,535 16,386 11,995 275 346
Adjusted Cash Inflows 1,070,878 133,535 16,386 11,995 275 346
Cash Outflows
and Equipment 1,089,061 746,230 82,526 41,207 18,426 100,618
Purchase/Acquisition of Investments - - - - - -
779
(in thousand pesos)
NPC PNR PPC

2017 2016 2017 2016 2017 2016

Activities (18,184) (612,695) (66,140) (29,212) (18,151) (100,272)
Cash Inflows
Equity/Contribution from National Government - - - 202,072 - -
Total Cash Inflows - - - 202,072 - -
Adjustments (Please specify) 58 - - - - -
Adjusted Cash Inflows 58 - - 202,072 - -
Cash Outflows
Payment of Long-Term Liabilities 52,002 41,885 13,728 124,167 45,379 23,507
Payable - - - - - -
GOCCs Income 1,398,936 300,000 - - 21,466 39,465

Activities (1,458,002) (351,158) (15,242) 73,797 (87,026) (93,684)

EQUIVALENTS 4,897,660 4,430,090 (47,270) 222,920 840,359 (325,131)

Cash Equivalents 12,478 3,465 - - (479) 20,981
CASH AND CASH EQUIVALENTS, JANUARY 1 14,675,271 10,241,717 359,382 136,462 2,042,388 2,346,538
CASH AND CASH EQUIVALENTS, DECEMBER 31 19,585,410 14,675,271 312,112 359,382 2,882,267 2,042,388
780
(in thousand pesos)
PSALM TRANSCO
2017 2016 2017 2016
Cash Inflows
Proceeds from Sale of Goods and Services 1,101,598 232,009 - -
Collection of Income/Revenue 56,483,095 55,570,030 105,157 111,216
Receipt of Assistance/Subsidy - - - -
Collection of Receivables 58,965,020 56,942,875 2,383 3,230
Receipt of Inter-Agency Fund Transfers 40,989 - - -
Trust Receipts 184,369 1,020 133 367
Other Receipts 19,032 9,646 570 363
Total Cash Inflows 116,794,103 112,755,580 108,243 115,176
Adjustments - - 22,336 4,267
Adjusted Cash Inflows 116,794,103 112,755,580 130,579 119,443
Cash Outflows
Payment of Expenses 53,301,327 52,941,308 223,657 220,981
Purchase of Inventories 2,636 3,960 - -
Grant of Cash Advances 13,047 15,261 - -
Prepayments - - - -
Refund of Deposits 31,360 12,559 5,425 1,860
Payments of Accounts Payable 2,942,803 3,866,288 10,347 18,511
and Mandatory Deductions 45,330 44,740 334 462
Contribution 165,666 228,795 - -
Release of Inter-Agency Fund Transfers 2,401,102 2,733,591 - -
Release of Intra-Agency Fund Transfers - - - -
Other Disbursements 704,013 335,394 3,021 1,677
Total Cash Outflows 59,607,283 60,181,897 242,783 243,491
Adjustments - - 16,135 5,052
Adjusted Cash Outflows 59,607,283 60,181,897 258,918 248,543

Activities 57,186,819 52,573,683 (128,339) (129,100)
Cash Inflows
Property - - - -
and Equipment - - 141,130 51,035
Sale of Investments - - - -
Receipt of Interest Earned - - - -
Proceeds from Matured Investments/Redemption 12,805,324 - - -
Proceeds from Sale of Other Assets - - - -
Total Cash Inflows 12,805,324 - 141,130 51,035
Adjustments (Please specify) - - 358,527 346,360
Adjusted Cash Inflows 12,805,324 - 499,657 397,394
Cash Outflows
and Equipment 116,192 216,470 687,636 343,481
Purchase/Acquisition of Investments 12,036,295 764,570 - -
Purchase of Intangible Assets - - - -
Grant of Loans - - - -
Total Cash Outflows 12,152,487 981,040 687,636 343,481
Adjustments (Please specify) - - 75 -
781
(in thousand pesos)
PSALM TRANSCO
2017 2016 2017 2016
Adjusted Cash Outflows 12,152,487 981,040 687,711 343,481

Activities 652,837 (981,040) (188,054) 53,913
Cash Inflows
Proceeds from Incurrence of Financial Liabilities - - - -
Proceeds from Domestic and Foreign Loans 15,000,000 - - -
Equity/Contribution from National Government 4,035,060 13,956,752 - -
Total Cash Inflows 19,035,060 13,956,752 - -
Adjusted Cash Inflows 19,035,060 13,956,752 - -
Cash Outflows
Payment of Long-Term Liabilities 44,474,869 27,378,018 - -
Payable 21,384,962 38,728,562 - -
and Other Equity Securities - - - -
Financial Charges 17,752,600 19,864,503 - -
GOCCs Income - - - -
Total Cash Outflows 83,612,431 85,971,083 - -
Adjusted Cash Outflows 83,612,431 85,971,083 - -

Activities (64,577,371) (72,014,331) - -

EQUIVALENTS (6,737,714) (20,421,688) (316,393) (75,187)

Cash Equivalents (12,750) (61,463) 24 2,304
CASH AND CASH EQUIVALENTS, JANUARY 1 16,503,295 36,986,446 1,124,038 1,196,922
CASH AND CASH EQUIVALENTS, DECEMBER 31 9,752,831 16,503,295 807,669 1,124,038
782
(in thousand pesos)

2017 2016 2017 2016 2017 2016
Cash Inflows
Proceeds from Sale of Goods and Services 6,692,210 6,419,490 6,691,076 6,418,356 803,120 687,793
Receipt of Assistance/Subsidy 1,012,967 843,562 866,098 612,242 - -
Collection of Receivables 13,390,531 10,726,987 13,250,419 10,657,146 227,436 191,425
Receipt of Inter-Agency Fund Transfers 7,676,345 1,980,818 7,669,889 1,980,253 61,702 49,629
Trust Receipts 5,986,712 6,187,974 5,963,634 6,185,568 30,901 35,784
Other Receipts 273,019 1,253,675 261,066 1,230,676 8,344 126,302
Adjustments 63,731 83,588 23,596 34,699 - -
Cash Outflows
Purchase of Inventories 121,995 195,382 78,988 148,497 2,757 3,222
Grant of Cash Advances 1,693,037 2,046,833 1,642,517 2,012,071 3,372 2,629
Prepayments 113,990 58,162 71,637 51,483 5,334 4,302
Refund of Deposits 2,176,727 2,421,195 2,173,606 2,416,921 - 25
Payments of Accounts Payable 3,622,608 3,236,621 771,045 760,641 56,472 19,027
Contribution 852,042 518,201 849,028 518,201 - -
Release of Inter-Agency Fund Transfers 1,666,621 1,485,018 1,605,783 1,375,325 - -
Release of Intra-Agency Fund Transfers 307,689 449,930 113,411 253,560 - -
Total Cash Outflows 43,433,083 35,820,594 38,975,735 31,802,691 1,027,051 852,210
Adjustments 760,831 108,546 735,885 59,973 - -
Adjusted Cash Outflows 44,193,913 35,929,140 39,711,620 31,862,664 1,027,051 852,210

Activities 30,829,028 23,400,707 28,177,394 21,103,639 197,555 300,981
Cash Inflows
Property 1,790 1,318 1,790 718 - -
and Equipment 560,300 111,022 560,009 110,951 406 87
Sale of Investments 23,940,073 28,179,952 23,940,073 28,179,952 - -
Receipt of Cash Dividends 759,713 1,190,512 759,713 1,190,512 - -
Proceeds from Sale of Other Assets 4,721 187,687 4,721 187,687 - -
Adjustments (Please specify) 30,571 0 0 0 - -
Cash Outflows
Purchase/Construction of Investment Property 59,045 79,218 59,045 79,218 3,770 23,975
and Equipment 7,154,192 30,924,641 6,626,826 30,344,746 221,608 138,144
Purchase/Acquisition of Investments 54,310,604 30,682,841 45,767,788 21,103,284 - 15,206
Purchase of Intangible Assets 2,922 627 2,922 627 2,884 79
Grant of Loans 1,661 91,185 1,661 91,185 - -
783
(in thousand pesos)

2017 2016 2017 2016 2017 2016


Activities (24,063,155) (22,849,463) (24,783,487) (14,810,857) (225,083) (174,978)
Cash Inflows
Proceeds from Incurrence of Financial Liabilities 6,461 21,164 6,461 21,164 - -
Acceptances Payable 201,642 24,386 201,642 24,386 - -
Equity/Contribution from National Government 5,108,640 21,783,272 5,108,640 21,783,272 97,582 93,335
other Equity Securities 2 24,169 - 24,169 - -
Cash Outflows
Payment of Long-Term Liabilities 3,222,912 3,574,707 3,133,090 3,522,517 100,000 -
Other Equity Securities 612,332 269,210 612,332 269,210 - -
Financial Charges 262,609 269,372 262,609 269,372 - -
GOCCs Income 7,082,228 8,868,911 7,033,925 8,860,770 29,111 25,810

Activities (14,528,952) 931,464 (14,390,829) 991,795 (31,529) 67,525

CASH EQUIVALENTS (7,763,079) 1,482,707 (10,996,922) 7,284,577 (59,057) 193,528

Cash Equivalents (19,087) 760,486 (19,103) 760,444 (21) 957
784
(in thousand pesos)

2017 2016 2017 2016 2017 2016
Cash Inflows
Proceeds from Sale of Goods and Services 12,150 24,083 48 17,799 - -
Collection of Income/Revenue 1,803,571 1,627,716 - - 217,504 175,813
Receipt of Assistance/Subsidy - - - - 816,021 551,208
Collection of Receivables 3,541 8,722 10,212 9,667 1,817,298 1,480,995
Receipt of Inter-Agency Fund Transfers 7,516,710 1,762,434 - - 299 -
Receipt of Intra-Agency Fund Transfers - - 724 28,021 22,821 253,427
Trust Receipts 162,873 33,068 - - 202,966 531,063
Other Receipts 25,968 27,144 - - - 800,000
Total Cash Inflows 9,524,814 3,483,166 10,984 55,487 3,076,909 3,792,507
Adjustments - - - - - 22,455
Adjusted Cash Inflows 9,524,814 3,483,166 10,984 55,487 3,076,909 3,814,962
Cash Outflows
Payment of Expenses 1,351,162 871,121 1,051 105,028 355,325 335,772
Prepayments 63,173 36,057 - - - -
Refund of Deposits - - - - 2,878 94,486
Contribution - - - - 849,028 518,201
Release of Inter-Agency Fund Transfers 1,350,590 1,162,827 - - 44,678 45,076
Release of Intra-Agency Fund Transfers - - 9,758 4,107 - 150,605
Other Disbursements - - - - 1,620 778,238
Total Cash Outflows 3,082,778 2,315,147 12,713 120,263 1,709,047 2,413,343
Adjustments - - - - 725,040 -
Adjusted Cash Outflows 3,082,778 2,315,147 12,713 120,263 2,434,087 2,413,343

Activities 6,442,036 1,168,019 (1,729) (64,776) 642,821 1,401,619
Cash Inflows
and Equipment 531,051 71,677 - - - -
Sale of Investments 14,149,535 14,009,232 - 74,905 - -
Proceeds from Matured Investments/Redemption 135,000 315,000 - - 3,936 5,213
Cash Outflows
and Equipment 751,257 125,816 - - 538,935 200,560
Purchase/Acquisition of Investments 12,989,772 13,194,675 2,482 - 100,000 25,000
Grant of Loans - - - - - 56,000
Total Cash Outflows 13,741,029 13,320,491 2,482 - 638,935 281,560
785
(in thousand pesos)

2017 2016 2017 2016 2017 2016
Adjustments (Please specify) - - - - 8,256 516

Adjusted Cash Outflows 13,741,029 13,320,491 2,482 - 647,192 282,076

Activities 1,880,619 1,415,264 19 79,898 (643,256) (276,863)
Cash Inflows
Acceptances Payable 201,642 24,386 - - - -
Equity/Contribution from National Government 1,350,590 1,162,827 - - - -
Total Cash Inflows 1,552,232 1,187,213 - - - -
Adjustments (Please specify) - - - - 2,134 1,572
Adjusted Cash Inflows 1,552,232 1,187,213 - - 2,134 1,572
Cash Outflows
Payment of Long-Term Liabilities 860,352 842,148 - - 20,633 9,214
GOCCs Income 130,025 88,282 - 5,294 - -
Total Cash Outflows 1,195,614 1,138,563 - 5,294 20,633 9,214
Adjustments (Please specify) 5,091,232 3,911,718 - - 500,000 700,000
Adjusted Cash Outflows 6,286,846 5,050,281 - 5,294 520,633 709,214

Activities (4,734,614) (3,863,068) - (5,294) (518,499) (707,641)

CASH EQUIVALENTS 3,588,041 (1,279,786) (1,710) 9,828 (518,934) 417,114

Cash Equivalents (9) 363 - - - -
786
(in thousand pesos)

2017 2016 2017 2016 2017 2016
Cash Inflows
Collection of Income/Revenue 852,115 569,061 82,220 73,323 10 80
Collection of Receivables - - 281 2,301 5 56
Trust Receipts - - 100 469 - -
Other Receipts 66,236 25,929 1,652 1,089 202 96
Total Cash Inflows 994,529 750,990 187,272 187,452 217 232
Adjustments - - 15,215 11,471 - -
Adjusted Cash Inflows 994,529 750,990 202,487 198,922 217 232
Cash Outflows
Purchase of Inventories - - 1,969 953 227 -
Grant of Cash Advances - - 2,954 3,054 953 1,047
Prepayments - - 242 390 581 5,808
Refund of Deposits - - - 3 - -
Payments of Accounts Payable 270,767 208,380 - 4 - -
Release of Intra-Agency Fund Transfers - - 98,472 94,791 - -
Other Disbursements - - 18,756 473 - -
Adjustments - - 10,845 9,271 - -

Activities 466,888 297,790 5,728 21,945 (45,092) (47,046)
Cash Inflows
Sale of Investments - - - - 10,683 12,136
Receipt of Interest Earned - - - - 37,216 42,438
Proceeds from Matured Investments/Redemption 1,160,765 432,701 1,605 2,472 - 58,044
Total Cash Inflows 1,160,765 432,701 1,605 2,472 47,899 112,618
Adjusted Cash Inflows 1,160,765 432,701 1,605 2,472 47,899 112,618
Cash Outflows
and Equipment 380,523 359,105 1,213 882 211 7,855
Purchase/Acquisition of Investments 897,875 250,441 - - - -
Purchase of Intangible Assets - - 38 548 - -
Total Cash Outflows 1,278,398 609,547 1,251 1,429 211 7,855
787
(in thousand pesos)

2017 2016 2017 2016 2017 2016
Adjustments (Please specify) - 14,660 - - - -

Adjusted Cash Outflows 1,278,398 624,206 1,251 1,429 211 7,855

Activities (117,634) (191,505) 354 1,043 47,688 104,763
Cash Inflows
Cash Outflows
Payment of Long-Term Liabilities 156,606 122,854 - - - -
Financial Charges - - - - 380 380
GOCCs Income - - - - - -
Total Cash Outflows 156,606 122,854 - - 380 380
Adjusted Cash Outflows 156,606 122,854 - - 380 380

Activities (156,606) (122,854) - - (380) (380)

CASH EQUIVALENTS 192,648 (16,569) 6,082 22,988 2,216 57,337

Cash Equivalents - - (0) 0 995 5,491
788
(in thousand pesos)

2017 2016 2017 2016 2017 2016
(Restated)
Cash Inflows
Collection of Income/Revenue 66,651 64,343 13,402,373 7,659,484 219,749 930,846
Receipt of Assistance/Subsidy - - 77 - - -
Collection of Receivables 7,534 17,342 - - 44,105 541,934
Receipt of Intra-Agency Fund Transfers 62,790 60,695 - - - -
Trust Receipts - - 576 282 307 248
Other Receipts 918 583 4,306 1,810 717 13,036
Total Cash Inflows 137,893 142,964 13,407,333 7,661,576 264,878 1,486,064
Adjustments - - - - 132 773
Adjusted Cash Inflows 137,893 142,964 13,407,333 7,661,576 265,010 1,486,836
Cash Outflows
Prepayments - - 2,307 - - -
Refund of Deposits - - - - 1,131 -
and Mandatory Deductions 65,082 64,660 - - 41 5
Other Disbursements - - - - - 498
Adjustments - 50,702 - - - -

Activities (2,371) (39,926) 5,674,856 3,890,332 29,715 1,191,464
Cash Inflows
and Equipment - - - - 533 65
Receipt of Interest Earned 804 829 58,021 77,662 - -
Proceeds from Matured Investments/Redemption - - 351,760 - - -
Total Cash Inflows 804 829 409,781 77,662 533 65
Adjusted Cash Inflows 804 829 409,781 77,662 533 65
Cash Outflows
and Equipment 5,466 20,879 393,943 396,319 - -
Purchase/Acquisition of Investments - - 5,209,597 197,582 1,294 18,261
789
(in thousand pesos)

2017 2016 2017 2016 2017 2016
(Restated)


Activities (4,662) (20,050) (5,193,759) (516,239) (761) (18,196)
Cash Inflows
Proceeds from Incurrence of Financial Liabilities 5,263 20,919 - - - -
Total Cash Inflows 5,263 20,919 - - - -
Adjusted Cash Inflows 5,263 20,919 - - - -
Cash Outflows
GOCCs Income - - 2,080,156 - 240,592 187,181
Total Cash Outflows - - 2,080,156 - 240,592 187,181
Adjusted Cash Outflows - - 2,080,156 - 240,592 187,181

Activities 5,263 20,919 (2,080,156) - (240,592) (187,181)

CASH EQUIVALENTS (1,770) (39,057) (1,599,059) 3,374,094 (211,638) 986,087

Cash Equivalents - - 33,347 119,907 869 22,573
CASH AND CASH EQUIVALENTS, JANUARY 1 13,954 53,011 7,640,977 4,146,976 1,887,116 878,456
790
(in thousand pesos)

2017 2016 2017 2016 2017 2016
(Restated)
Cash Inflows
Collection of Income/Revenue - - 898,672 550,019 13,398,803 12,073,485
Collection of Receivables - - - - - -
Trust Receipts - - - - 3,174,908 2,988,467
Other Receipts - 69 - - 93,373 60,366
Total Cash Inflows - 69 898,672 550,019 16,667,084 15,122,318
Adjusted Cash Inflows - 69 898,672 550,019 16,667,084 15,122,318
Cash Outflows
Payment of Expenses 10 39 173,307 108,612 6,625,423 5,688,548
Grant of Cash Advances - 20 - - 2,673 9,278
Payments of Accounts Payable - 3,131 - - - -
and Mandatory Deductions - - - - - -
Release of Inter-Agency Fund Transfers - - - - 18,520 12,529
Other Disbursements - - - - 1,328,865 1,472,879
Total Cash Outflows 10 3,190 173,307 108,612 7,975,481 7,183,234
Adjusted Cash Outflows 10 3,190 173,307 108,612 7,975,481 7,183,234

Activities (10) (3,122) 725,365 441,407 8,691,603 7,939,084
Cash Inflows
Sale of Investments - - - - 9,779,855 11,670,025
Receipt of Interest Earned 407 409 - - 75,912 323,624
Proceeds from Matured Investments/Redemption - - - - - 4,927,365
Total Cash Inflows 407 409 - - 9,855,766 16,921,014
Adjusted Cash Inflows 407 409 - - 9,855,766 16,921,014
Cash Outflows
and Equipment - - 116,202 746,258 3,851,313 26,452,918
Purchase/Acquisition of Investments - - 1,617,088 400,000 20,693,645 3,575,496
Total Cash Outflows - - 1,733,290 1,146,258 24,544,958 30,028,415
791
(in thousand pesos)

2017 2016 2017 2016 2017 2016
(Restated)

Adjusted Cash Outflows - - 1,733,290 1,146,258 24,544,958 30,028,415

Activities 407 409 (1,733,290) (1,146,258) (14,689,192) (13,107,400)
Cash Inflows
Equity/Contribution from National Government - - - - 3,609,522 20,475,837
Cash Outflows
Payment of Long-Term Liabilities 88 - - - 1,091,082 1,141,304
Financial Charges 202 202 - - - -
GOCCs Income - - 170,404 5,062,131 2,226,520 1,578,995
Total Cash Outflows 290 202 170,404 5,062,131 3,317,602 2,720,299
Adjustments (Please specify) - - - - 3,075,499 3,197,933
Adjusted Cash Outflows 290 202 170,404 5,062,131 6,393,101 5,918,232

Activities (290) (202) (170,404) (5,062,131) (2,783,579) 14,557,605

CASH EQUIVALENTS 107 (2,915) (1,178,329) (5,766,983) (8,781,167) 9,389,289

Cash Equivalents - - - - (2,766) 412,552
792
(in thousand pesos)

2017 2016 2017 2016 2017 2016
Cash Inflows
Collection of Income/Revenue 315 - 170,971 182,034 17,967 18,243
Collection of Receivables 455 1,129 9,120 12,142 52 7
Other Receipts - - - - - -
Total Cash Inflows 8,418 18,348 180,091 194,176 18,019 18,250
Adjusted Cash Inflows 8,418 18,348 180,091 194,176 18,019 18,250
Cash Outflows
Grant of Cash Advances 20 20 216 511 - -
Payments of Accounts Payable 166 237 - - - -
and Mandatory Deductions - - - - 208 217
Release of Inter-Agency Fund Transfers 130 130 - - - -

Activities (193) 326 (188,360) (396,684) 8,431 (1,459)
Cash Inflows
Property - - 1,770 - - -
Receipt of Interest Earned - - 31,550 22,934 0 0
Receipt of Cash Dividends - - 217,837 1,104,603 - -
Proceeds from Matured Investments/Redemption - - 37,666 63,700 7 7
Collection of Long-Term Loans - - 18,781 344,752 - -
Proceeds from Sale of Other Assets - - 4,721 94,850 - -
Total Cash Inflows - - 312,325 1,630,839 7 7
Adjusted Cash Inflows - - 312,325 1,630,839 7 7
Cash Outflows
and Equipment - 238 - - - 20
Purchase/Acquisition of Investments - - 27,508 1,731,019 2,445 -
Total Cash Outflows - 238 27,508 1,731,019 2,445 20
793
(in thousand pesos)

2017 2016 2017 2016 2017 2016

Adjusted Cash Outflows - 238 27,508 1,731,019 2,445 20

Activities - (238) 284,817 (100,180) (2,438) (13)
Cash Inflows
Cash Outflows
GOCCs Income - - 102,521 41,684 8,723 37,983
Total Cash Outflows - - 102,521 41,684 8,723 37,983
Adjusted Cash Outflows - - 102,521 41,684 8,723 37,983

Activities - - (102,521) (41,684) (8,723) (37,983)

CASH EQUIVALENTS (193) 88 (6,064) (538,548) (2,730) (39,455)

Cash Equivalents - - 3,882 10,363 - -
CASH AND CASH EQUIVALENTS, JANUARY 1 913 824 4,126 532,311 26,670 66,125
CASH AND CASH EQUIVALENTS, DECEMBER 31 720 913 1,945 4,126 23,940 26,670
794
(in thousand pesos)
FCIEI GYREI IIGSI

2017 2016 2017 2016 2017 2016
Cash Inflows
Collection of Income/Revenue 3,945 6,844 40,519 40,891 - -
Collection of Receivables 55 67 - - - -
Other Receipts 33 - - - - -
Total Cash Inflows 4,032 6,911 40,519 40,891 - -
Adjusted Cash Inflows 4,032 6,911 40,519 40,891 - -
Cash Outflows
Payment of Expenses 4,040 7,469 12,614 12,044 - -
Payments of Accounts Payable 8 27 - - - -
Other Disbursements - - 10,349 15,238 - -

Activities (16) (584) 17,556 13,609 - -
Cash Inflows
Receipt of Interest Earned - - - - 0 0
Proceeds from Matured Investments/Redemption 14 18 - - - -
Total Cash Inflows 14 18 - - 0 0
Adjusted Cash Inflows 14 18 - - 0 0
Cash Outflows
Total Cash Outflows - - - - - -
795
(in thousand pesos)
FCIEI GYREI IIGSI

2017 2016 2017 2016 2017 2016

Adjusted Cash Outflows - - - - - -

Activities 14 18 - - 0 0
Cash Inflows
Cash Outflows
GOCCs Income - - 18,066 - - -
Total Cash Outflows - - 18,066 - - -
Adjusted Cash Outflows - - 18,066 - - -

Activities - - (18,066) - - -

CASH EQUIVALENTS (1) (566) (510) 13,609 0 0

CASH AND CASH EQUIVALENTS, JANUARY 1 1,834 2,400 52,808 39,199 114 114
CASH AND CASH EQUIVALENTS, DECEMBER 31 1,832 1,834 52,297 52,808 115 114
796
(in thousand pesos)
KRC MGC NPIC

2017 2016 2017 2016 2017 2016
Cash Inflows
Collection of Income/Revenue 13,643 10,763 - - 615 563
Collection of Receivables 59 - 30 35 231 235
Trust Receipts - 3,361 - - - -
Total Cash Inflows 13,702 14,124 30 35 846 798
Adjusted Cash Inflows 13,702 14,124 30 35 846 798
Cash Outflows
Payment of Expenses 1,683 1,764 - - 531 520
Payments of Accounts Payable - - 1,149 993 2 21
and Mandatory Deductions - - 202 2,939 - -
Other Disbursements 16,193 2,451 1,837 2,191 - -
Total Cash Outflows 17,876 4,215 3,188 6,124 533 540
Adjusted Cash Outflows 17,876 4,215 3,188 6,124 533 540

Activities (4,174) 9,909 (3,158) (6,089) 313 258
Cash Inflows
Property - - 20 - - -
and Equipment 26,400 - - - - -
Receipt of Interest Earned - - 921 964 - -
Total Cash Inflows 26,400 - 941 964 - -
Adjusted Cash Inflows 26,400 - 941 964 - -
Cash Outflows
Purchase/Acquisition of Investments 13,107 - - - - -
Total Cash Outflows 13,107 - - - - -
797
(in thousand pesos)
KRC MGC NPIC

2017 2016 2017 2016 2017 2016

Adjusted Cash Outflows 13,107 - - - - -

Activities 13,293 - 941 964 - -
Cash Inflows
Cash Outflows
GOCCs Income 3,959 12,004 39,997 - - -
Total Cash Outflows 3,959 12,004 39,997 - - -
Adjusted Cash Outflows 3,959 12,004 39,997 - - -

Activities (3,959) (12,004) (39,997) - - -

CASH EQUIVALENTS 5,160 (2,096) (42,214) (5,124) 313 258

798
(in thousand pesos)

2017 2016 2017 2016 2017 2016
Cash Inflows
Proceeds from Sale of Goods and Services - - 4,719,124 4,533,898 - -
Collection of Income/Revenue 2,117 2,018 - - 116,533 112,463
Collection of Receivables - - 6,049,748 5,676,748 773,267 591,679
Trust Receipts - - - - 810 13,430
Cash Outflows
Payment of Expenses 227 231 533,685 433,756 286,809 171,184
Purchase of Inventories - - - - 2,666 2,619
Grant of Cash Advances - - 1,249,038 1,692,081 3,971 4,651
and Mandatory Deductions - - 1,716,555 1,124,586 19,910 18,441
Release of Inter-Agency Fund Transfers - - 17,023 35,679 171,551 115,581
Other Disbursements 644 639 6,382,133 4,614,809 - -
Total Cash Outflows 871 870 9,898,433 7,900,912 484,907 312,475
Adjusted Cash Outflows 871 870 9,898,433 7,900,912 484,907 312,475

Activities 1,246 1,148 870,439 2,309,734 405,703 405,097
Cash Inflows
Total Cash Inflows - - 13,935 23,826 8,930 9,886
Adjusted Cash Inflows 0 0 13,935 23,826 8,930 9,886
Cash Outflows
and Equipment - - 256,770 1,790,763 31,290 23,387
Total Cash Outflows - - 256,770 1,790,763 31,290 23,387
799
(in thousand pesos)

2017 2016 2017 2016 2017 2016

Adjusted Cash Outflows - - 256,770 1,790,763 31,290 23,387

Activities 0 0 (242,834) (1,766,936) (22,359) (13,501)
Cash Inflows
Cash Outflows
Payment of Long-Term Liabilities - - 13,023 10,178 307,666 214,970
Financial Charges - - 149 2,751 56,641 57,905
GOCCs Income 1,147 1,128 635,143 521,777 97,029 60,384
Adjustments (Please specify) - - 1,019 1,247 - -

Activities (1,147) (1,128) (649,333) (535,952) (461,336) (333,260)

CASH EQUIVALENTS 99 20 (21,729) 6,846 (77,992) 58,336

Cash Equivalents - - 1,797 2,058 - -
CASH AND CASH EQUIVALENTS, JANUARY 1 1,617 1,597 349,850 340,946 1,000,002 941,666
CASH AND CASH EQUIVALENTS, DECEMBER 31 1,717 1,617 329,918 349,850 922,010 1,000,002
800
(in thousand pesos)
PNCC ASDI CDCP-FC

2017 2016 2017 2016 2017 2016
(Restated)
Cash Inflows
Collection of Income/Revenue 224,191 264,709 - - 13 55
Collection of Receivables - - 2 7 - -
Other Receipts 37,812 140,431 - - - -
Total Cash Inflows 262,002 405,140 2 7 13 55
Adjusted Cash Inflows 262,002 405,140 2 7 13 55
Cash Outflows
Purchase of Inventories - - 107 65 - -
Release of Inter-Agency Fund Transfers 3,292 3,502 - - - -
Other Disbursements - - - - - -

Activities 132,695 282,050 (1,227) (1,260) 13 55
Cash Inflows
and Equipment 1,194 23,283 - - - -
Receipt of Interest Earned 6,056 10,914 2,639 4,680 1 1
Proceeds from Sale of Other Assets - 92,671 - - - -
Total Cash Inflows 66,006 181,881 2,639 4,680 1 1
Adjusted Cash Inflows 66,006 181,881 2,639 4,680 1 1
Cash Outflows
and Equipment 719 326 - - - -
Total Cash Outflows 719 326 - - - -
801
(in thousand pesos)
PNCC ASDI CDCP-FC

2017 2016 2017 2016 2017 2016
(Restated)

Adjusted Cash Outflows 719 326 - - - -

Activities 65,287 181,555 2,639 4,680 1 1
Cash Inflows
Cash Outflows
Payment of Long-Term Liabilities - 566,300 - - - -
Other Equity Securities - - - - 13 55
GOCCs Income - - 3,172 1,480 - -
Total Cash Outflows - 566,300 3,172 1,480 13 55
Adjustments (Please specify) - - - 130,000 - -
Adjusted Cash Outflows - 566,300 3,172 131,480 13 55

Activities - (566,300) (3,172) (131,480) (13) (55)

CASH EQUIVALENTS 197,982 (102,695) (1,760) (128,061) 1 1

CASH AND CASH EQUIVALENTS, JANUARY 1 591,046 693,740 5,384 133,445 567 566
CASH AND CASH EQUIVALENTS, DECEMBER 31 789,028 591,046 3,624 5,384 567 567
802
(in thousand pesos)
DCBGSI PRecA PEATC

2017 2016 2017 2016 2017 2016
Cash Inflows
Collection of Receivables - - 2,830,238 857,510 - -
Receipt of Inter-Agency Fund Transfers - 190 - - 15,000 12,000
Trust Receipts - - 3 273 53,963 43,882
Other Receipts - - 1,720 2,699 1,394 -
Adjustments - - 8,249 - - -
Cash Outflows
Payment of Expenses - - 1,192,014 596,477 533 368
Grant of Cash Advances 444 2,148 - - 50,914 45,237
Prepayments - - - - - 4,926
Payments of Accounts Payable - - 30,085 59,646 - -
and Mandatory Deductions 3,456 822 173,518 96,084 - -
Release of Intra-Agency Fund Transfers - - - - 5,181 4,058
Other Disbursements 767 5,906 5,532 47,457 - -

Activities (2,939) 6,656 1,707,865 256,615 20,217 6,078
Cash Inflows
Property - 718 - - - -
and Equipment 424 15,839 - - - -
Sale of Investments - - - 2,410,268 - 3,385
Receipt of Interest Earned 18 152 118,226 81,761 2,135 3,332
Proceeds from Matured Investments/Redemption - - - - 2,183 64,595
Proceeds from Sale of Other Assets - - - 166 - -
Total Cash Inflows 442 16,708 118,226 2,492,194 4,318 71,312
Adjusted Cash Inflows 442 16,708 118,226 2,492,194 4,318 71,312
Cash Outflows
and Equipment - - 1,399 12,609 21,313 22,529
Purchase/Acquisition of Investments - - 2,658,663 - 76,934 -
Grant of Loans - - 1,661 35,185 - -
Total Cash Outflows - - 2,661,723 47,795 98,247 22,529
803
(in thousand pesos)
DCBGSI PRecA PEATC

2017 2016 2017 2016 2017 2016

Adjusted Cash Outflows - - 2,661,723 47,795 98,247 22,529

Activities 442 16,708 (2,543,497) 2,444,400 (93,929) 48,783
Cash Inflows
Proceeds from Incurrence of Financial Liabilities 444 - - - - -
Total Cash Inflows 444 - - - - -
Adjusted Cash Inflows 444 - - - - -
Cash Outflows
Other Equity Securities 424 42,928 - - - -
GOCCs Income - - 323,761 1,090,718 - -
Total Cash Outflows 424 42,928 323,761 1,090,718 - -
Adjusted Cash Outflows 424 42,928 323,761 1,090,718 - -

Activities 21 (42,928) (323,761) (1,090,718) - -

CASH EQUIVALENTS (2,477) (19,563) (1,159,393) 1,610,297 (73,712) 54,861

804
(in thousand pesos)

2017 2016 2017 2016 2017 2016
(Restated)
Cash Inflows
Proceeds from Sale of Goods and Services 1,148,986 1,137,563 - - 1,134 1,135
Collection of Income/Revenue 1,047,334 731,619 23,928 22,393 6,463,003 5,763,992
Receipt of Assistance/Subsidy - - 50,000 61,033 146,869 231,320
Collection of Receivables 1,476,748 1,265,146 - - 140,111 69,840
Receipt of Inter-Agency Fund Transfers - - - - 6,455 565
Receipt of Intra-Agency Fund Transfers - - - - 301,188 222,398
Trust Receipts 2,336,228 2,535,243 - - 23,078 2,405
Other Receipts 18,391 31,123 - - 11,953 22,999
Adjustments - - - - 40,135 48,890
Cash Outflows
Purchase of Inventories - - - - 43,007 46,885
Prepayments - - - - 42,353 6,679
Refund of Deposits 2,169,597 2,322,408 - - 3,121 4,273
Payments of Accounts Payable - - - - 2,851,563 2,475,981
Adjustments - - - - 24,945 48,573

Activities 2,395,443 1,714,266 (9,826) 6,142 2,651,634 2,297,068
Cash Inflows
Property - - - - - 600
Proceeds from Matured Investments/Redemption 20,000 20,000 - - 9,759,310 2,119,838
Total Cash Inflows 20,000 20,000 - - 9,759,943 2,120,845
Adjustments (Please specify) - - - - 30,571 -
Adjusted Cash Inflows 20,000 20,000 - - 9,790,514 2,120,845
Cash Outflows
Purchase/Construction of Investment Property 55,275 55,243 - - - -
and Equipment - - 54,663 46,139 527,366 579,896
Purchase/Acquisition of Investments 1,476,377 1,695,603 1,000 - 8,542,816 9,579,556
805
(in thousand pesos)

2017 2016 2017 2016 2017 2016
(Restated)


Activities (1,511,651) (1,730,846) (55,663) (46,139) 720,332 (8,038,606)
Cash Inflows
Proceeds from Incurrence of Financial Liabilities 753 245 - - - -
Equity/Contribution from National Government - - 50,947 51,272 - -
other Equity Securities - 24,169 - - 2 -
Total Cash Inflows 753 24,414 50,947 51,272 2 -
Adjusted Cash Inflows 753 24,414 50,947 51,272 2 -
Cash Outflows
Payment of Long-Term Liabilities 583,641 615,550 - - 89,822 52,190
Other Equity Securities 611,896 226,227 - - - -
GOCCs Income 923,600 145,918 - - 48,302 8,142
Total Cash Outflows 2,119,136 987,695 - - 138,125 60,331
Adjusted Cash Outflows 2,119,136 987,695 - - 138,125 60,331

Activities (2,118,383) (963,281) 50,947 51,272 (138,123) (60,331)

CASH EQUIVALENTS (1,234,591) (979,862) (14,543) 11,275 3,233,843 (5,801,870)

Cash Equivalents (57,197) 186,180 - - 16 42
CASH AND CASH EQUIVALENTS, DECEMBER 31 673,706 1,965,494 8,703 23,246 4,521,105 1,287,247
806
(in thousand pesos)

2017 2016 2017 2016 2017 2016
(Restated)
Cash Inflows
Receipt of Assistance/Subsidy 105,811 189,290 - - - -
Receipt of Inter-Agency Fund Transfers - - - - 6,000 -
Trust Receipts - - 16,829 - 107 653
Other Receipts 196 186 111 211 73 155
Adjustments 241 179 - - - -
Cash Outflows
Purchase of Inventories - - 2,963 - 6,090 4,447
Grant of Cash Advances 58 609 10,546 - - -
Prepayments - - - - 210 75
Payments of Accounts Payable - - 37,281 5,250 3,757 6,248
Release of Inter-Agency Fund Transfers - - - 20,016 500 700
Other Disbursements - - 323 - 2,468 17,036

Activities 38,480 139,499 97,177 152,030 45,802 25,198
Cash Inflows
and Equipment - - 249 48 - -
Proceeds from Matured Investments/Redemption - - - 24,185 - -
Total Cash Inflows - - 249 24,233 322 319
Adjusted Cash Inflows - - 249 24,233 322 319
Cash Outflows
and Equipment 61,059 77,610 2,123 9,590 7,660 6,452
807
(in thousand pesos)

2017 2016 2017 2016 2017 2016
(Restated)


Activities (61,059) (77,610) (1,874) 14,644 (7,337) (6,133)
Cash Inflows
other Equity Securities - - 2 - - -
Total Cash Inflows - - 2 - - -
Adjusted Cash Inflows - - 2 - - -
Cash Outflows
Payment of Long-Term Liabilities - - - - 57,090 16,800
GOCCs Income - - 48,302 8,142 - -
Total Cash Outflows - - 48,302 8,142 57,090 16,800
Adjusted Cash Outflows - - 48,302 8,142 57,090 16,800

Activities - - (48,300) (8,142) (57,090) (16,800)

CASH EQUIVALENTS (22,578) 61,889 47,003 158,532 (18,626) 2,266

808
(in thousand pesos)

2017 2016 2017 2016 2017 2016
Cash Inflows
Proceeds from Sale of Goods and Services - - 1,134 1,135 - -
Collection of Income/Revenue 7,349 4,234 1,817 2,053 6,018,194 5,305,547
Receipt of Assistance/Subsidy - - 41,058 42,030 - -
Collection of Receivables - - 1,019 765 136,657 63,552
Receipt of Inter-Agency Fund Transfers - - 450 250 5 315
Receipt of Intra-Agency Fund Transfers - - - - 301,188 222,398
Trust Receipts - - - - 6,141 1,752
Other Receipts - - 294 950 11,224 21,460
Adjustments - - 911 5,103 38,983 43,607
Cash Outflows
Purchase of Inventories 43 91 - - 33,911 42,346
Prepayments - - - - 42,142 6,604
Refund of Deposits - - - - 3,121 4,273
Payments of Accounts Payable 36 54 - - 2,810,489 2,464,428
and Mandatory Deductions 735 781 - - 244,522 214,433
Adjustments - - - - 24,915 48,382

Activities 1,789 (1,545) 1,112 540 2,467,169 1,975,643
Cash Inflows
Property - - - 600 - -
Receipt of Interest Earned - - 20 18 - -
Proceeds from Matured Investments/Redemption - - - - 9,759,310 2,095,652
Total Cash Inflows - - 20 618 9,759,310 2,095,652
Adjustments (Please specify) - - - - 30,571 -
Adjusted Cash Inflows - - 20 618 9,789,881 2,095,652
Cash Outflows
and Equipment 46 24 353 879 455,182 485,121
Total Cash Outflows 46 24 353 879 8,997,998 10,064,677
809
(in thousand pesos)

2017 2016 2017 2016 2017 2016

Adjusted Cash Outflows 46 24 353 879 8,997,998 10,064,677

Activities (46) (24) (334) (260) 791,883 (7,969,025)
Cash Inflows
Cash Outflows
Total Cash Outflows - - - - 32,732 35,390
Adjusted Cash Outflows - - - - 32,732 35,390

Activities - - - - (32,732) (35,390)

CASH EQUIVALENTS 1,743 (1,569) 779 280 3,226,319 (6,028,772)

Cash Equivalents - - - - 16 42
CASH AND CASH EQUIVALENTS, JANUARY 1 536 2,105 10,285 10,005 645,795 6,674,524
CASH AND CASH EQUIVALENTS, DECEMBER 31 2,279 536 11,063 10,285 3,872,130 645,795
810
(in thousand pesos)
CFI
2017 2016
Cash Inflows
Proceeds from Sale of Goods and Services - -
Collection of Income/Revenue 20,931 21,225
Receipt of Assistance/Subsidy - -
Collection of Receivables - -
Receipt of Inter-Agency Fund Transfers - -
Receipt of Intra-Agency Fund Transfers - -
Trust Receipts - -
Other Receipts 55 36
Adjustments - -
Cash Outflows
Payment of Expenses - -
Purchase of Inventories - -
Prepayments - -
Refund of Deposits - -
Payments of Accounts Payable - -
and Mandatory Deductions - -
Contribution - -
Release of Inter-Agency Fund Transfers - -
Release of Intra-Agency Fund Transfers - -
Other Disbursements - -
Total Cash Outflows 20,881 15,558
Adjustments - -
Adjusted Cash Outflows 20,881 15,558

Activities 105 5,703
Cash Inflows
Property - -
and Equipment 42 22
Sale of Investments - -
Receipt of Interest Earned - -
Receipt of Cash Dividends - -
Proceeds from Matured Investments/Redemption - -
Collection of Long-Term Loans - -
Proceeds from Sale of Other Assets - -
Total Cash Inflows 42 22
Adjusted Cash Inflows 42 22
Cash Outflows
Purchase/Construction of Investment Property - -
and Equipment 944 221
Purchase/Acquisition of Investments - -
Purchase of Intangible Assets - -
Grant of Loans - -
Total Cash Outflows 944 221
811
(in thousand pesos)
CFI
2017 2016

Adjusted Cash Outflows 944 221

Activities (902) (199)
Cash Inflows
Proceeds from Incurrence of Financial Liabilities - -
Equity/Contribution from National Government - -
other Equity Securities - -
Total Cash Inflows - -
Adjusted Cash Inflows - -
Cash Outflows
Payment of Long-Term Liabilities - -
Other Equity Securities - -
Financial Charges - -
GOCCs Income - -
Total Cash Outflows - -
Adjusted Cash Outflows - -

Activities - -

CASH EQUIVALENTS (797) 5,505

CASH AND CASH EQUIVALENTS, JANUARY 1 10,649 5,144
CASH AND CASH EQUIVALENTS, DECEMBER 31 9,852 10,649
812
(in thousand pesos)
Total GBE FTI
2017 2016 2017 2016 2017 2016

Cash Inflows
Receipt of Assistance/Subsidy 42,613,974 31,240,032 2,594,111 1,763,647 - -
Collection of Receivables 1,172,448 1,270,047 517,648 524,790 323,628 311,459
Receipt of Inter-Agency Fund Transfers 3,073,820 3,005,893 1,589,332 16,000 - -
Receipt of Intra-Agency Fund Transfers 26,407,699 39,113,108 - - - -
Trust Receipts 1,032,940 2,279,775 39,024 22,484 8,377 5,346
Other Receipts 976,193 1,231,819 14,851 7,048 333 490
Adjustments 44,663 68,296 - - - -
Cash Outflows
Purchase of Inventories 685,248 2,121,558 398 1,218 - -
Prepayments 2,770,362 1,160,230 1,635 1,088 - -
Refund of Deposits 106,665 105,346 1,389 2,771 404 2,771
Payments of Accounts Payable 1,845,520 3,179,999 1,813 676 - -
and Mandatory Deductions 3,027,889 2,372,742 25,335 25,614 - -
Contribution - 58,812 - - - -
Release of Inter-Agency Fund Transfers 1,419,254 3,846,437 2,548 23,434 - -
Release of Intra-Agency Fund Transfers 26,960,502 38,277,706 - - - -
Other Disbursements 491,142 608,082 232,679 176,801 18,067 21,094
Total Cash Outflows 49,811,189 63,319,456 4,157,214 3,163,672 1,004,765 185,022
Adjustments 24,158 22,704 - - - -
Adjusted Cash Outflows 49,835,347 63,342,160 4,157,214 3,163,672 1,004,765 185,022

Activities 45,717,815 47,785,521 1,839,268 346,218 (645,640) 171,111
Cash Inflows
Property - 97 - 10 - -
and Equipment 2,082,329 1,073,554 2,075,040 58 2,075,040 -
Sale of Investments 1,312,431 1,470,149 1,015,549 711,732 - -
Receipt of Cash Dividends 1,770 4,432 1,770 4,432 - -
Proceeds from Matured Investments/Redemption 1,000 - 1,000 - - -
Proceeds from Sale of Other Assets 125 36 - - - -
Total Cash Inflows 3,608,949 2,736,076 3,179,412 773,650 2,075,040 -
Adjusted Cash Inflows 3,608,949 2,736,076 3,179,412 773,650 2,075,040 -
Cash Outflows
and Equipment 22,579,058 20,514,742 394,226 543,982 280 513
Purchase/Acquisition of Investments 4,340,361 2,615,060 1,549,982 36,402 109,499 21,402
Purchase of Bearer/Consumable Biological
Assets 21,584 156,217 - - - -
Purchase of Intangible Assets 208 - 208 - - -
Grant of Loans 44,209 55,916 - - - -
Total Cash Outflows 26,985,419 23,341,935 1,944,416 580,384 109,779 21,915
Adjusted Cash Outflows 26,985,419 23,341,935 1,944,416 580,384 109,779 21,915
813
(in thousand pesos)
Total GBE FTI
2017 2016 2017 2016 2017 2016


Activities (23,376,470) (20,605,859) 1,234,997 193,266 1,965,261 (21,915)
Cash Inflows
Proceeds from Domestic and Foreign Loans 22,797,000 8,550,000 - - - -
Total Cash Inflows 22,797,000 8,550,000 - - - -
Adjusted Cash Inflows 22,797,000 8,550,000 - - - -
Cash Outflows
Payment of Long-Term Liabilities 34,943,797 27,905,095 18,792 9,419 - -
Financial Charges 5,184,577 6,116,762 8,041 8,964 - -
GOCCs Income 273,902 189,942 172,238 154,560 87,271 62,029

Activities (17,605,277) (25,661,799) (199,070) (172,943) (87,271) (62,029)

EQUIVALENTS 4,736,068 1,517,862 2,875,195 366,542 1,232,350 87,167

Cash Equivalents (871) 12,016 (258) 632 - -
CASH AND CASH EQUIVALENTS, DECEMBER 31 22,485,519 17,750,321 6,093,332 3,218,395 1,426,794 194,444
814
(in thousand pesos)
HSDC NRDC PMDC
2017 2016 2017 2016 2017 2016
Cash Inflows
Collection of Receivables 1,558 1,683 66 52 97 96
Trust Receipts - - 12,325 10,672 153 -
Other Receipts 5,794 1,530 700 390 541 363
Cash Outflows
Purchase of Inventories - - 168 41 21 -
Grant of Cash Advances 545 635 2,734 619 5,182 1,974
Prepayments - - 482 19 - -
Other Disbursements 4,197 6,155 - - 40 30

Activities 21,107 9,413 21,857 2,430 15,781 4,182
Cash Inflows
Property - - - - - 10
Receipt of Interest Earned 1,627 2,560 8 65 1,104 1,198
Receipt of Cash Dividends 1,770 - - 4,432 - -
Proceeds from Matured Investments/Redemption 1,000 - - - - -
Total Cash Inflows 4,397 2,560 8 4,498 1,104 1,208
Adjusted Cash Inflows 4,397 2,560 8 4,498 1,104 1,208
Cash Outflows
and Equipment 216 55 2,261 124 6,609 58
Assets - - - - - -
Purchase of Intangible Assets - - 208 - - -
Total Cash Outflows 216 55 2,469 124 6,609 58
Adjusted Cash Outflows 216 55 2,469 124 6,609 58
815
(in thousand pesos)
HSDC NRDC PMDC
2017 2016 2017 2016 2017 2016

Activities 4,181 2,505 (2,461) 4,374 (5,505) 1,150
Cash Inflows
Cash Outflows
Financial Charges - - - - 8,041 8,897
GOCCs Income - - - - 1,247 20,148

Activities - - - - (18,080) (36,980)

EQUIVALENTS 25,287 11,918 19,397 6,804 (7,804) (31,648)

Cash Equivalents - - - - (498) 8
816
(in thousand pesos)
PCIC PFDA PHILSUCOR
2017 2016 2017 2016 2017 2016

Cash Inflows
Receipt of Assistance/Subsidy 2,500,000 1,600,000 94,111 163,647 - -
Collection of Receivables - - 36,781 39,972 155,519 171,528
Receipt of Inter-Agency Fund Transfers 1,558,332 - 31,000 16,000 - -
Trust Receipts - - 18,169 6,467 - -
Other Receipts - - 7,483 4,274 - -
Cash Outflows
Purchase of Inventories - - 209 1,177 - -
Grant of Cash Advances - - 71 94 87 97
Prepayments - - 374 846 779 222
Refund of Deposits - - 985 - - -
Payments of Accounts Payable - - - - 1,813 676
and Mandatory Deductions - - 5,698 392 6,355 4,316
Other Disbursements - - 20 429 210,354 149,093

Activities 2,177,424 (199,450) 315,170 346,160 (66,431) 12,373
Cash Inflows
and Equipment - 58 - - - -
Sale of Investments - 650,211 - - 1,015,549 61,521
Total Cash Inflows 50,463 691,496 9,904 9,729 1,038,497 64,160
Adjusted Cash Inflows 50,463 691,496 9,904 9,729 1,038,497 64,160
Cash Outflows
and Equipment 51,948 21,917 332,419 519,281 492 2,033
Purchase/Acquisition of Investments 355,483 - - - 1,085,000 15,000
Assets - - - - - -
Total Cash Outflows 407,431 21,917 332,419 519,281 1,085,492 17,033
Adjusted Cash Outflows 407,431 21,917 332,419 519,281 1,085,492 17,033
817
(in thousand pesos)
PCIC PFDA PHILSUCOR
2017 2016 2017 2016 2017 2016


Activities (356,968) 669,579 (322,515) (509,553) (46,995) 47,127
Cash Inflows
Cash Outflows
Financial Charges - - - 67 - -
GOCCs Income 22,559 36,556 60,360 32,368 801 3,459
Total Cash Outflows 22,559 36,556 70,360 33,918 801 3,459
Adjusted Cash Outflows 22,559 36,556 70,360 33,918 801 3,459

Activities (22,559) (36,556) (70,360) (33,918) (801) (3,459)

EQUIVALENTS 1,797,898 433,572 (77,705) (197,311) (114,228) 56,040

CASH AND CASH EQUIVALENTS, JANUARY 1 1,175,625 742,053 1,257,129 1,453,816 121,178 65,138
818
(in thousand pesos)
Non-GBE NDA NFA
2017 2016 2017 2016 2017 2016

Cash Inflows
Collection of Income/Revenue 18,974,928 31,730,931 14,041 21,693 17,127,504 28,091,882
Receipt of Assistance/Subsidy 40,019,862 29,476,386 199,945 190,472 5,100,000 4,250,000
Collection of Receivables 654,800 745,256 49,878 65,588 229,237 263,951
Receipt of Inter-Agency Fund Transfers 1,484,488 2,989,893 2,552 12,950 461,575 1,735,586
Receipt of Intra-Agency Fund Transfers 26,407,699 39,113,108 1,007 3,038 25,498,877 38,277,125
Trust Receipts 993,915 2,257,291 831 34,597 397,120 860,398
Other Receipts 961,342 1,224,771 36 25 339,494 748,398
Adjustments 44,663 68,296 - - 10,766 29,989
Cash Outflows
Payment of Expenses 8,238,168 8,354,024 147,005 163,602 2,771,896 3,202,842
Purchase of Inventories 684,851 2,120,340 - - 582,659 2,024,662
Prepayments 2,768,727 1,159,142 - - 5,124 3,009
Refund of Deposits 105,277 102,574 - 40 101,542 61,115
Payments of Accounts Payable 1,843,707 3,179,323 33,367 35,419 645,209 1,898,459
and Mandatory Deductions 3,002,554 2,347,128 - - 1,190,545 1,041,143
Release of Inter-Agency Fund Transfers 1,416,706 3,823,003 - - 245,823 3,115,914
Release of Intra-Agency Fund Transfers 26,960,502 38,277,706 - - 25,527,506 36,620,142
Other Disbursements 258,463 431,281 396 12,877 139,141 277,686
Adjustments 24,158 22,704 - - 13,503 10,680

Activities 43,878,547 47,439,302 84,739 113,137 17,819,769 25,855,160
Cash Inflows
Property - 87 - - - -
and Equipment 7,289 1,073,495 117 49 611 1,068,564
Sale of Investments 296,882 758,417 - - - -
Collection of Long-Term Loans 110,589 124,060 - - - 28
Proceeds from Sale of Other Assets 125 36 - - 125 36
Total Cash Inflows 429,537 1,962,426 117 49 736 1,068,628
Adjusted Cash Inflows 429,537 1,962,426 117 49 736 1,068,628
Cash Outflows
and Equipment 22,184,833 19,970,760 26,195 13,063 227,383 122,682
Purchase/Acquisition of Investments 2,790,379 2,578,658 - - 2,500,000 2,300,000
Assets 21,584 156,217 8,318 73,626 - -
Grant of Loans 44,209 55,916 260 320 - -
819
(in thousand pesos)
Non-GBE NDA NFA
2017 2016 2017 2016 2017 2016


Activities (24,611,467) (20,799,125) (34,657) (86,961) (2,726,647) (1,354,054)
Cash Inflows
Proceeds from Domestic and Foreign Loans 22,797,000 8,550,000 - - 22,797,000 8,550,000
Total Cash Inflows 22,797,000 8,550,000 - - 22,797,000 8,550,000
Adjusted Cash Inflows 22,797,000 8,550,000 - - 22,797,000 8,550,000
Cash Outflows
Payment of Long-Term Liabilities 34,925,005 27,895,676 - - 33,950,005 26,920,676
Financial Charges 5,176,537 6,107,798 - - 4,652,667 5,583,928
GOCCs Income 101,664 35,382 - - - -
Total Cash Outflows 40,203,206 34,038,857 - - 38,602,672 32,504,604
Adjusted Cash Outflows 40,203,206 34,038,857 - - 38,602,672 32,504,604

Activities (17,406,206) (25,488,857) - - (15,805,672) (23,954,604)

EQUIVALENTS 1,860,874 1,151,320 50,082 26,177 (712,551) 546,502

Cash Equivalents (613) 11,384 - - (613) 6,739
820
(in thousand pesos)
NIA NTA PCA
2017 2016 2017 2016 2017 2016

Cash Inflows
Collection of Income/Revenue 727,114 2,308,149 109,188 139,670 309,273 337,362
Receipt of Assistance/Subsidy 31,698,045 22,665,935 - - 1,324,661 1,250,875
Receipt of Inter-Agency Fund Transfers 196,700 266,686 - - 524,154 563,342
Receipt of Intra-Agency Fund Transfers 2,448 - 590,030 423,341 - -
Trust Receipts 487,677 1,230,694 35,804 28,701 46,900 73,840
Other Receipts 395,156 212,948 4,816 3,824 37,344 34,914
Cash Outflows
Payment of Expenses 2,881,442 2,317,978 117,790 120,779 1,399,624 1,578,644
Purchase of Inventories - - 967 33,142 74,957 32,574
Prepayments 2,759,880 1,154,912 - - 176 1,221
Refund of Deposits - - - - 1,926 222
Payments of Accounts Payable 703,274 722,438 16,157 28,749 196,999 330,629
and Mandatory Deductions 1,405,184 892,648 58,104 56,130 180,139 154,089
Release of Inter-Agency Fund Transfers 427,890 391,656 - - 145,542 1,476
Release of Intra-Agency Fund Transfers - 130,924 553,716 504,237 547,942 598,675
Other Disbursements 18,738 89,894 - - 28,167 20,967

Activities 25,276,998 20,981,214 61,302 (69,547) (349,112) (406,196)
Cash Inflows
Property - - - - - 87
and Equipment 1,902 70 4,088 4,055 - -
Sale of Investments - - - - 275 -
Receipt of Interest Earned - - - - 3,158 1,783
Collection of Long-Term Loans - - 110,589 124,032 - -
Total Cash Inflows 1,902 70 114,677 128,087 3,433 1,870
Adjusted Cash Inflows 1,902 70 114,677 128,087 3,433 1,870
Cash Outflows
and Equipment 21,738,074 19,706,931 7,496 832 66,881 45,359
Assets - - 40 62 13,225 82,528
Grant of Loans - - 43,948 55,596 - -
821
(in thousand pesos)
NIA NTA PCA
2017 2016 2017 2016 2017 2016


Activities (21,736,172) (19,706,861) 63,194 71,597 (76,673) (126,017)
Cash Inflows
Cash Outflows
Payment of Long-Term Liabilities 975,000 975,000 - - - -
Total Cash Outflows 1,498,870 1,498,870 - - - -
Adjusted Cash Outflows 1,498,870 1,498,870 - - - -

Activities (1,498,870) (1,498,870) - - - -

EQUIVALENTS 2,041,956 (224,517) 124,496 2,050 (425,785) (532,213)

Cash Equivalents - 4,645 - - - -
CASH AND CASH EQUIVALENTS, DECEMBER 31 9,847,366 7,805,410 156,109 31,613 815,230 1,241,015
822
(in thousand pesos)
2017 2016 2017 2016 2017 2016
Cash Inflows
Receipt of Assistance/Subsidy 561,000 518,000 - - 1,136,211 601,104
Collection of Receivables 56,965 32,821 88,615 114,034 1,040 151
Receipt of Inter-Agency Fund Transfers 298,987 409,396 - - 519 1,933
Trust Receipts - - 24,556 28,884 1,027 178
Other Receipts 165,958 209,874 3,945 2,543 14,594 12,245
Adjustments 33,380 38,307 - - 518 -
Cash Outflows
Purchase of Inventories 23,842 29,603 508 359 1,917 -
Prepayments 2,830 - - - 717 -
Refund of Deposits 1,214 39,056 250 2,142 345 -
Payments of Accounts Payable 214,786 146,107 17 17,523 33,898 -
and Mandatory Deductions 83,100 82,537 1,671 - 83,810 120,581
Release of Inter-Agency Fund Transfers 248,760 300,361 - - 348,692 13,595
Release of Intra-Agency Fund Transfers 164,714 212,030 166,624 211,699 - -
Other Disbursements 40,637 1,792 25,278 28,005 6,107 60
Adjustments 10,647 12,008 - - - -

Activities 73,176 152,684 18,528 (550) 893,147 813,401
Cash Inflows
Sale of Investments - - 296,607 758,417 - -
Adjusted Cash Inflows - - 305,302 760,107 3,370 3,615
Cash Outflows
and Equipment 85,633 59,231 162 630 33,009 22,033
Purchase/Acquisition of Investments - - 290,379 278,658 - -
Assets - - - - - -
823
(in thousand pesos)
2017 2016 2017 2016 2017 2016

Activities (85,633) (59,231) 14,762 480,819 (29,639) (18,418)
Cash Inflows
Cash Outflows
GOCCs Income - - - - 101,664 35,382

Activities - - - - (101,664) (35,382)

EQUIVALENTS (12,457) 93,453 33,290 480,269 761,843 759,600

CASH AND CASH EQUIVALENTS, JANUARY 1 1,233,958 1,140,505 898,768 418,499 1,044,775 285,175
824
Cluster 6 - Social, Culutral, Trading, Promotional and Other Services
(in thousand pesos)
Total GBE DFPC

2017 2016 2017 2016 2017 2016
Cash Inflows
Proceeds from Sale of Goods and Services 7,536,449 7,934,514 7,286,687 7,652,667 7,122,618 7,100,274
Receipt of Assistance/Subsidy 52,800,037 54,514,489 49,329,582 50,149,305 - -
Receipt of Inter-Agency Fund Transfers 1,085,042 4,358,821 - 30,332 - -
Receipt of Intra-Agency Fund Transfers 192,465 155,200 13,615 - - -
Trust Receipts 12,253,773 8,200,011 11,441,828 7,483,770 1,065 15,976
Other Receipts 553,039 1,330,281 328,539 841,281 64,647 28,904
Adjustments 521,216 1,139,909 455,544 189,600 11,148 15,069
Cash Outflows
Purchase of Inventories 7,656,443 8,008,072 7,565,735 7,886,883 7,334,745 7,406,499
Prepayments 239,951 115,815 76,119 84,056 558 9,373
Refund of Deposits 22,851 33,329 20,477 32,292 5,543 30,069
Payments of Accounts Payable 12,419,427 13,170,314 7,154,914 7,002,630 1,140,850 865,007
Contribution 35,686,000 34,603,539 35,685,438 34,602,433 - -
Release of Inter-Agency Fund Transfers 444,747 802,927 173,186 14,158 - -
Release of Intra-Agency Fund Transfers 25,104 10 25,104 10 - -
Other Disbursements 16,962,566 17,359,731 16,276,445 16,920,272 - -
Adjustments 166,103 113,358 307,553 94,909 14,676 11,538

Activities 27,944,015 11,595,761 28,066,481 6,922,914 370,592 30,250
Cash Inflows
and Equipment 754 4 14 0 - -
Sale of Investments 1,051,652 200,708 1,051,652 200,126 1,020 126
Receipt of Cash Dividends 140 - 140 - 140 -
Proceeds from Sale of Other Assets 429 287 429 287 81 -
Adjustments (Please specify) 81,848 2,633 - - - -
Cash Outflows
Purchase/Construction of Investment Property 65,783 - 65,783 - - -
Purchase/Construction of Property, Plant and
Equipment 4,986,926 3,344,861 3,895,348 2,107,319 132,121 111,574
Purchase/Acquisition of Investments 10,975,401 3,784,838 8,583,753 2,248,983 - -
Purchase of Intangible Assets 47,107 15,380 47,107 15,380 3,792 100
Adjustments (Please specify) - 1,421,130 - 1,101,783 - -

Activities (5,228,104) 2,164,360 (3,638,075) 3,855,482 (127,149) (101,934)
825
(in thousand pesos)
Total GBE DFPC

2017 2016 2017 2016 2017 2016
Cash Inflows
Equity/Contribution from National Government 202,200 404,000 - - - -
Total Cash Inflows 202,200 404,000 - - - -
Adjusted Cash Inflows 202,200 404,000 - - - -
Cash Outflows
Payment of Long-Term Liabilities 884,335 1,329,967 879,876 1,325,906 - -
GOCCs Income 1,505,943 2,267,697 1,505,943 2,267,697 74,738 170,678

Activities (2,188,078) (3,193,665) (2,385,820) (3,593,603) (74,738) (170,678)

CASH EQUIVALENTS 20,527,833 10,566,457 22,042,586 7,184,793 168,705 (242,362)

Cash Equivalents (8,861) 32,572 (9,584) 27,269 (9,707) 27,269
826
(in thousand pesos)
IBC 13 PAGCOR PCSO

2017 2016 2017 2016 2017 2016
Cash Inflows
Collection of Income/Revenue - - 58,774,523 53,839,835 33,423,870 26,586,664
Collection of Receivables - - 229,381 132,610 234 4,918
Receipt of Inter-Agency Fund Transfers - - - - - 30,332
Receipt of Intra-Agency Fund Transfers - - - - 13,615 -
Trust Receipts - - - - 10,944 49,624
Other Receipts - - 260,404 809,522 128 -
Adjustments - - 431,619 174,531 - -
Cash Outflows
Payment of Expenses 69,689 94,616 5,100,759 7,529,966 2,021,979 1,944,128
Purchase of Inventories - - 39,032 47,973 184,205 422,577
Grant of Cash Advances - - 730 556 47,911 61,178
Prepayments - - 74,336 73,427 1,224 1,256
Refund of Deposits - - 14,933 1,623 - 600
Payments of Accounts Payable - - 925,797 1,193,167 3,495,487 3,579,940
and Mandatory Deductions 5,824 5,899 8,143,829 4,441,991 8,299,528 9,758,548
Contribution - - 35,685,438 34,602,433 - -
Release of Intra-Agency Fund Transfers - - - - 25,104 10
Other Disbursements - - 84,427 101,681 15,120,819 16,438,410
Adjustments - - 178,860 83,370 - -

Activities 3,823 5,290 9,275,249 6,867,003 4,252,534 (5,535,110)
Cash Inflows
Sale of Investments - - - - - 200,000
Receipt of Interest Earned - - 116,914 78,644 - -
Proceeds from Matured Investments/Redemption - - - - 548,933 1,934,657
Total Cash Inflows - - 116,914 78,644 548,948 2,134,658
Adjusted Cash Inflows - - 116,914 78,644 548,948 2,134,658
Cash Outflows
Purchase/Construction of Investment Property - - 65,783 - - -
Equipment 587 2,563 3,266,533 1,381,681 45,982 102,238
Purchase/Acquisition of Investments - - - - 100,000 1,194,638
Purchase of Intangible Assets - - 43,315 15,279 - -
Total Cash Outflows 587 2,563 3,375,631 1,396,961 145,982 1,296,876
Adjusted Cash Outflows 587 2,563 3,375,631 1,396,961 145,982 1,296,876

Activities (587) (2,563) (3,258,717) (1,318,317) 402,965 837,782
827
(in thousand pesos)
IBC 13 PAGCOR PCSO

2017 2016 2017 2016 2017 2016
Cash Inflows
Cash Outflows
Payment of Long-Term Liabilities - - 879,666 1,325,191 - -
GOCCs Income - - 1,182,620 1,898,319 - -

Activities - - (2,062,286) (3,223,510) - -

CASH EQUIVALENTS 3,236 2,727 3,954,246 2,325,176 4,655,499 (4,697,328)

828
(in thousand pesos)
PHIC PITC PPPI

2017 2016 2017 2016 2017 2016
(Restated)
Cash Inflows
Proceeds from Sale of Goods and Services - - 9,599 11,261 75,134 435,326
Collection of Income/Revenue 62,345,796 55,275,036 25,507 25,380 1,405 69
Receipt of Assistance/Subsidy 49,329,582 50,149,305 - - - -
Trust Receipts - 53,969 11,290,965 7,274,026 138,854 90,175
Other Receipts 3 60 935 638 1,141 764
Adjustments - - 12,777 - - -
Cash Outflows
Payments of Accounts Payable - - 1,441,862 955,267 150,918 409,248
Release of Inter-Agency Fund Transfers - - 650 851 - -
Other Disbursements - - 891,737 229,209 32 18,581
Adjustments - - 114,018 - - -

Activities 5,097,816 (838,350) 8,699,685 5,969,486 26,100 36,655
Cash Inflows
Sale of Investments 1,050,632 - - - - -
Proceeds from Matured Investments/Redemption 5,399,753 5,752,176 1,260,765 119,346 - -
Proceeds from Sale of Other Assets 348 287 - - - -
Total Cash Inflows 6,450,733 5,752,464 1,263,721 121,323 - -
Adjusted Cash Inflows 6,450,733 5,752,464 1,263,721 121,323 - -
Cash Outflows
Equipment 439,902 502,493 4,265 481 33 -
Purchase/Acquisition of Investments 7,490,786 - - - - -
Total Cash Outflows 7,930,688 502,493 4,265 481 33 -
Adjustments (Please specify) - - - 1,101,783 - -
Adjusted Cash Outflows 7,930,688 502,493 4,265 1,102,265 33 -

Activities (1,479,955) 5,249,971 1,259,456 (980,942) (33) -
829
(in thousand pesos)
PHIC PITC PPPI

2017 2016 2017 2016 2017 2016
(Restated)
Cash Inflows
Cash Outflows
Payment of Long-Term Liabilities - - - - 210 715
GOCCs Income - - 38,150 8,259 - -
Total Cash Outflows - - 38,150 8,259 210 715
Adjusted Cash Outflows - - 38,150 8,259 210 715

Activities - - (38,150) (8,259) (210) (715)

CASH EQUIVALENTS 3,617,862 4,411,621 9,920,991 4,980,285 25,857 35,940

Cash Equivalents - - 123 - - -
830
(in thousand pesos)
PRA Non-GBE BSoP

2017 2016 2017 2016 2017 2016
(Restated)
Cash Inflows
Proceeds from Sale of Goods and Services - - 249,762 281,846 132,789 158,163
Receipt of Assistance/Subsidy - - 3,470,455 4,365,184 - -
Collection of Receivables 5,261 3,632 1,211,453 2,029,372 - -
Receipt of Inter-Agency Fund Transfers - - 1,085,042 4,328,489 - -
Receipt of Intra-Agency Fund Transfers - - 178,850 155,200 134,797 80,533
Trust Receipts - - 811,945 716,241 2,717 378
Other Receipts 1,282 1,392 224,500 489,001 2,610 1,872
Adjustments - - 65,672 950,310 - -
Cash Outflows
Purchase of Inventories - - 90,708 121,189 81,947 100,755
Grant of Cash Advances 7,725 5,430 72,257 25,497 555 312
Prepayments - - 163,833 31,759 1,240 2,808
Refund of Deposits - - 2,374 1,037 - -
Payments of Accounts Payable - - 5,264,513 6,167,683 - -
Contribution - - 562 1,106 - -
Other Disbursements 179,429 132,391 686,121 439,459 7,892 7,408
Adjustments - - (141,450) 18,449 - -

Activities 340,682 387,690 (122,466) 4,672,847 112,447 104,930
Cash Inflows
Sale of Investments - - - 582 - -
Proceeds from Matured Investments/Redemption 564,836 1,232,120 1,792,470 1,387,790 - -
Total Cash Inflows 564,836 1,232,120 1,811,349 1,398,988 - -
Adjusted Cash Inflows 564,836 1,232,120 1,893,197 1,401,622 - -
Cash Outflows
Equipment 5,925 6,290 1,091,577 1,237,542 2,491 3,032
Purchase/Acquisition of Investments 992,966 1,054,345 2,391,648 1,535,855 - -
Total Cash Outflows 998,891 1,060,635 3,483,226 2,773,397 2,491 3,032
Adjustments (Please specify) - - - 319,346 - -
Adjusted Cash Outflows 998,891 1,060,635 3,483,226 3,092,743 2,491 3,032

Activities (434,056) 171,486 (1,590,028) (1,691,122) (2,491) (3,032)
831
(in thousand pesos)
PRA Non-GBE BSoP

2017 2016 2017 2016 2017 2016
(Restated)
Cash Inflows
Total Cash Inflows - - 202,200 404,000 - -
Adjusted Cash Inflows - - 202,200 404,000 - -
Cash Outflows
Payment of Long-Term Liabilities - - 4,458 4,061 4,458 4,061
GOCCs Income 210,435 190,441 - - - -

Activities (210,435) (190,441) 197,742 399,939 (4,458) (4,061)

CASH EQUIVALENTS (303,809) 368,735 (1,514,752) 3,381,664 105,498 97,837

Cash Equivalents - - 722 5,304 (25) 16
832
(in thousand pesos)
CCP CITEM DAP

2017 2016 2017 2016 2017 2016
Cash Inflows
Proceeds from Sale of Goods and Services - - 3,533 - - -
Collection of Income/Revenue 199,200 174,943 55,445 - 1,177,653 1,140,345
Receipt of Assistance/Subsidy 244,495 242,197 220,000 195,000 - -
Collection of Receivables 66,218 4,273 4,046 47,228 - -
Trust Receipts 30,576 6,603 822 - - -
Other Receipts 5,031 1,836 5,604 9,708 - -
Cash Outflows
Purchase of Inventories 1,641 3,322 19 - - -
Grant of Cash Advances - - 16,819 19 830 633
Prepayments 13,052 8,462 9,717 - - -
Refund of Deposits 600 - 945 - - -
Payments of Accounts Payable 53,407 53,240 33,214 - 945,698 1,018,657
and Mandatory Deductions - - 2,454 - - -
Contribution - - 58 - - -
Other Disbursements 79,718 26,919 19,211 - - -
Total Cash Outflows 467,572 376,204 277,824 277,211 946,528 1,019,290
Adjusted Cash Outflows 467,572 376,204 277,824 277,211 946,528 1,019,290

Activities 77,949 53,648 39,406 (1,931) 231,126 121,055
Cash Inflows
Sale of Investments - - - - - 582
Receipt of Interest Earned - - 639 701 6,717 4,080
Proceeds from Matured Investments/Redemption - - - - 1,246,542 1,205,315
Total Cash Inflows - - 681 701 1,253,259 1,209,977
Adjusted Cash Inflows - - 681 701 1,253,259 1,209,977
Cash Outflows
Equipment 49,000 28,966 3,508 1,471 25,551 34,603

Activities (49,000) (28,966) (2,828) (770) (258,100) (116,015)
833
(in thousand pesos)
CCP CITEM DAP

2017 2016 2017 2016 2017 2016
Cash Inflows
Cash Outflows

Activities - - - - - -

CASH EQUIVALENTS 28,949 24,682 36,578 (2,701) (26,974) 5,040

Cash Equivalents - - 514 1,642 (18) 466
834
(in thousand pesos)
LCP NKTI PCED

2017 2016 2017 2016 2017 2016
Cash Inflows
Proceeds from Sale of Goods and Services 123 230 - - - -
Receipt of Assistance/Subsidy 265,190 202,144 265,889 332,206 44,745 28,169
Collection of Receivables 409,253 425,221 - - 550 54
Receipt of Inter-Agency Fund Transfers 313,103 81,354 337,956 451,591 618 523
Trust Receipts - - 540,008 524,315 - -
Other Receipts 80,758 171,630 - - 36 -
Adjustments - - - - 456 -
Cash Outflows
Purchase of Inventories - - - - 805 675
Grant of Cash Advances - - - - 100 -
Prepayments - - - - - 203
and Mandatory Deductions - - - - 1,865 46
Release of Inter-Agency Fund Transfers - - 54,070 424,187 140 1,021
Other Disbursements 441,337 247,690 - - 19 -
Adjustments - - 252 - 57 -

Activities 51,907 32,582 340,029 358,446 29,934 24,433
Cash Inflows
Total Cash Inflows - - - - 11,772 59,165
Adjusted Cash Inflows - - - - 11,772 59,165
Cash Outflows
Equipment 50,666 50,123 123,416 47,959 20 14,790
Purchase/Acquisition of Investments - - - - 11,645 88,696

Activities (50,666) (50,123) (123,416) (47,959) 107 (44,321)
835
(in thousand pesos)
LCP NKTI PCED

2017 2016 2017 2016 2017 2016
Cash Inflows
Total Cash Inflows - - 202,200 404,000 - -
Adjusted Cash Inflows - - 202,200 404,000 - -
Cash Outflows

Activities - - 202,200 404,000 - -

CASH EQUIVALENTS 1,241 (17,541) 418,813 714,487 30,041 (19,888)

836
(in thousand pesos)
PCMC PHC PIDS

2017 2016 2017 2016 2017 2016
Cash Inflows
Receipt of Assistance/Subsidy 538,163 927,323 613,594 453,424 163,537 73,672
Receipt of Inter-Agency Fund Transfers 431,464 3,484,269 - - 1,400 28,676
Receipt of Intra-Agency Fund Transfers 16,254 47,995 - - - -
Trust Receipts 134,799 166,986 - - 15,317 13,158
Other Receipts 11,264 3,280 - - 12,824 21,564
Adjustments 35,573 933,610 220 - - -
Cash Outflows
Purchase of Inventories 447 570 - - 1,272 1,200
Grant of Cash Advances 684 350 - - 9,663 11,496
Prepayments 94,641 2,749 - - 8,253 6,149
Refund of Deposits - - - - 520 580
Payments of Accounts Payable 1,969,494 2,905,528 2,042,367 1,739,896 - 2,724
Other Disbursements 128,874 131,071 - - - -
Adjustments 2,000 5,736 - 228 2,427 12,484

Activities (1,534,622) 2,070,262 538,162 589,078 24,810 (28,046)
Cash Inflows
Adjusted Cash Inflows - - 10,363 4,372 62,945 57,863
Cash Outflows
Equipment 71,750 470,748 286,148 159,735 7,075 3,402
Purchase/Acquisition of Investments - - - - 79,939 90,323

Activities (71,750) (470,748) (275,785) (155,363) (24,069) (35,862)
837
(in thousand pesos)
PCMC PHC PIDS

2017 2016 2017 2016 2017 2016
Cash Inflows
Cash Outflows


CASH EQUIVALENTS (1,606,372) 1,599,515 262,377 433,716 741 (63,908)

Cash Equivalents - - 436 3,220 (185) (41)
CASH AND CASH EQUIVALENTS, JANUARY 1 1,863,463 263,948 960,469 523,533 282,171 346,120
CASH AND CASH EQUIVALENTS, DECEMBER 31 257,091 1,863,463 1,223,282 960,469 282,728 282,171
838
(in thousand pesos)
PITAHC PTNI TPB

2017 2016 2017 2016 2017 2016
Cash Inflows
Receipt of Assistance/Subsidy 109,539 30,035 317,273 829,002 688,030 1,052,013
Collection of Receivables 15,058 36,975 - - 34,528 793,000
Receipt of Inter-Agency Fund Transfers 500 - - - - 282,076
Receipt of Intra-Agency Fund Transfers 19 3,327 - - - -
Trust Receipts 641 1,235 71,429 1,257 - -
Other Receipts 3,797 1,298 8,595 1,831 91,845 274,581
Total Cash Inflows 142,092 93,347 568,093 986,975 868,659 2,434,751
Adjustments (471) 2,669 26,409 2,586 - 11
Adjusted Cash Inflows 141,621 96,016 594,502 989,561 868,659 2,434,761
Cash Outflows
Purchase of Inventories 4,500 14,667 78 - - -
Grant of Cash Advances 1,132 1,713 28,256 - 10,417 -
Prepayments 36,866 11,134 60 114 4 139
Refund of Deposits 310 456 - - - -
Payments of Accounts Payable 3,337 3,337 - - 214,297 439,852
Other Disbursements 518 864 - - - 450
Adjustments - - - - (146,187) -

Activities 9,347 (24,224) 259,012 683,949 (451,030) 553,046
Cash Inflows
Proceeds from Matured Investments/Redemption 414,256 65,447 - - 56,954 -
Total Cash Inflows 415,374 66,911 - - 56,954 -
Adjusted Cash Inflows 415,374 66,911 81,848 2,633 56,954 -
Cash Outflows
Equipment 6,988 3,136 462,698 416,752 1,008 2,193
Purchase/Acquisition of Investments 414,256 65,447 - - - -
Adjustments (Please specify) - - - - - 319,346

Activities (5,869) (1,672) (380,849) (414,119) 55,946 (321,539)
839
(in thousand pesos)
PITAHC PTNI TPB

2017 2016 2017 2016 2017 2016
Cash Inflows
Cash Outflows


CASH EQUIVALENTS 3,478 (25,897) (121,837) 269,831 (395,084) 231,507

840
(in thousand pesos)
VFP
2017 2016
Cash Inflows
Proceeds from Sale of Goods and Services - -
Collection of Income/Revenue 236,349 244,063
Receipt of Assistance/Subsidy - -
Collection of Receivables 537 -
Receipt of Inter-Agency Fund Transfers - -
Receipt of Intra-Agency Fund Transfers - -
Trust Receipts 15,635 2,309
Other Receipts 2,135 1,401
Adjustments 3,485 11,434
Cash Outflows
Payment of Expenses 93,939 77,342
Purchase of Inventories - -
Prepayments - -
Refund of Deposits - -
Payments of Accounts Payable 1,689 2,044
and Mandatory Deductions 596 7,064
Contribution 504 1,106
Release of Inter-Agency Fund Transfers - -
Release of Intra-Agency Fund Transfers - -
Other Disbursements 8,552 25,057
Total Cash Outflows 109,083 123,588
Adjustments - -
Adjusted Cash Outflows 109,083 123,588

Activities 149,058 135,619
Cash Inflows
and Equipment - -
Sale of Investments - -
Receipt of Interest Earned - -
Receipt of Cash Dividends - -
Proceeds from Matured Investments/Redemption - -
Proceeds from Sale of Other Assets - -
Cash Outflows
Purchase/Construction of Investment Property - -
Equipment 1,259 634
Purchase/Acquisition of Investments 400,000 -
Purchase of Intangible Assets - -
Total Cash Outflows 401,259 634
Adjusted Cash Outflows 401,259 634

Activities (401,259) (634)
841
(in thousand pesos)
VFP
2017 2016
Cash Inflows
Equity/Contribution from National Government - -
Cash Outflows
Payment of Long-Term Liabilities - -
GOCCs Income - -
Total Cash Outflows - -
Adjusted Cash Outflows - -

Activities - -

CASH EQUIVALENTS (252,201) 134,985

CASH AND CASH EQUIVALENTS, JANUARY 1 546,354 411,369
CASH AND CASH EQUIVALENTS, DECEMBER 31 294,153 546,354
842
STATEMENT OF
COMPARISON OF
BUDGET AND ACTUAL
AMOUNTS
Statement of Comparison of Budget and Actual Amounts
(in thousand pesos)
TOTAL

Difference
Amounts on
Final Budget
and Actual
Basis
RECEIPTS
Services and Business Income 2,737 2,737 2,721 16
Others - - 1,786 (1,786)
Total Receipts 149,282 147,282 59,183 88,099
PAYMENTS
Capital Outlay 55,421 55,421 18,834 36,587
Total Payments 214,299 207,766 97,058 110,708
CB-BOL

Difference
Amounts on
Final Budget
and Actual
Basis
RECEIPTS
Services and Business Income 1,137 1,137 1,799 (662)
Assistance and Subsidy - - - -
Others - - - -
Total Receipts 1,137 1,137 1,799 (662)
PAYMENTS
Personnel Services 1,948 1,948 1,400 548
Maintenance and Other Operating 7,645 7,645 2,148 5,497
Capital Outlay - - - -
Financial Expenses - - - -
Total Payments 9,593 9,593 3,548 6,046
843
(in thousand pesos)
CIC

Difference
Amounts on
Final Budget
and Actual
Basis
RECEIPTS
Services and Business Income - - 223 (223)
Others - - 1,646 (1,646)
Total Receipts 115,545 115,545 49,444 66,101
PAYMENTS
Capital Outlay 55,421 55,421 18,834 36,587
Total Payments 168,505 164,536 67,625 96,911
LCDFI

Difference
Amounts on
Final Budget
and Actual
Basis
RECEIPTS
Services and Business Income 1,600 1,600 698 902
Others - - 139 (139)
Total Receipts 32,600 30,600 7,940 22,660
PAYMENTS
Maintenance and Other Operating 24,773 23,599 18,191 5,409
Total Payments 36,200 33,636 25,885 7,751
NET RECEIPTS/PAYMENTS (3,600) (3,036) (17,945) 14,908
844
(in thousand pesos)
TOTAL

Difference
Amounts on
Final Budget
and Actual
Basis
RECEIPTS
Others - - 512,151 (512,151)
Total Receipts 93,653,137 93,707,710 21,858,852 71,848,858
PAYMENTS
Capital Outlay 90,997,786 90,997,786 14,757,966 76,239,820
Total Payments 93,589,225 93,035,746 16,457,515 76,578,231
ECC

Difference
Amounts on
Final Budget
and Actual
Basis
RECEIPTS
Services and Business Income 76,527 92,518 69,915 22,603
Others - - - -
Total Receipts 191,222 207,213 180,481 26,732
PAYMENTS
Capital Outlay 30,536 30,536 6,481 24,055
Total Payments 171,102 180,481 146,857 33,624
NET RECEIPTS/PAYMENTS 20,120 26,732 33,624 (6,892)
845
(in thousand pesos)
NHA

Difference
Amounts on
Final Budget
and Actual
Basis
RECEIPTS
Others - - 512,151 (512,151)
Total Receipts 93,130,973 93,130,973 21,382,694 71,748,279
PAYMENTS
Personnel Services 1,107,621 918,597 631,887 286,710
Capital Outlay 90,864,207 90,864,207 14,720,929 76,143,278
Total Payments 93,130,973 92,559,588 16,138,669 76,420,919
NET RECEIPTS/PAYMENTS - 571,385 5,244,025 (4,672,640)
OSHC

Difference
Amounts on
Final Budget
and Actual
Basis
RECEIPTS
Others - - - -
Total Receipts 330,942 369,524 295,677 73,847
PAYMENTS
Capital Outlay 103,043 103,043 30,556 72,487
Total Payments 287,150 295,677 171,989 123,688
846
(in thousand pesos)
TOTAL

Difference
Amounts on
Final Budget
and Actual
Basis
RECEIPTS
Gains - - 1,101,618 (1,101,618)
Others 6,019,276 - - -
Total Receipts 124,028,928 114,721,909 120,908,066 (6,186,156)
PAYMENTS
Capital Outlay 14,261,315 14,557,509 3,917,942 10,639,567
Others 7,940,288 7,792,615 4,696,913 3,095,702
Total Payments 218,728,835 220,149,445 157,971,566 62,177,879
LRTA

Difference
Amounts on
Final Budget
and Actual
Basis
RECEIPTS
Assistance and Subsidy 3,768,556 3,768,556 3,790,652 (22,096)
Gains - - 20 (20)
Others - - 22,962 (22,962)
Total Receipts 5,252,006 5,252,006 5,393,752 (141,746)
PAYMENTS
Capital Outlay 94,025 94,025 478,631 (384,606)
Financial Expenses 3,312,589 3,312,589 3,876,071 (563,482)
Others - - - -
Total Payments 5,252,006 5,225,036 5,762,499 (537,463)
NET RECEIPTS/PAYMENTS - 26,970 (368,746) 395,716
847
(in thousand pesos)
LWUA
Budgeted Amounts Actual Difference

Amounts on
Basis
RECEIPTS
Assistance and Subsidy 1,625,023 1,625,023 29,155 1,595,868
Gains - - - -
Others 1,877,602 1,877,602 136,482 1,741,120
Total Receipts 4,700,365 4,640,365 1,267,142 3,373,223
PAYMENTS
Capital Outlay 4,382,232 4,382,232 510,105 3,872,127
Others - - - -
Total Payments 5,951,972 5,860,762 1,867,462 3,993,300
NET RECEIPTS/PAYMENTS (1,251,607) (1,220,397) (600,320) (620,077)
MWSS

Difference
Amounts on
Final Budget
and Actual
Basis
RECEIPTS
Gains - - - -
Others 584,383 558,796 38,847 519,949
Total Receipts 3,031,038 3,005,451 2,512,030 493,421
PAYMENTS
Maintenance and Other Operating Expenses 2,183,735 1,930,012 1,745,728 184,284
Capital Outlay 504,968 504,968 68,160 436,808
Others - - - -
Total Payments 3,005,451 2,687,767 1,954,089 733,678
848
(in thousand pesos)
NEA

Difference
Amounts on
Final Budget
and Actual
Basis
RECEIPTS
Gains - - - -
Others 104,880 104,880 86,974 17,906
Total Receipts 688,693 688,693 708,078 (19,385)
PAYMENTS
Maintenance and Other Operating Expenses 209,964 209,964 300,603 (90,639)
Capital Outlay 25,463 25,463 4,403 21,060
Financial Expenses 366 366 67,714 (67,348)
Others - - - -
Total Payments 621,824 621,824 611,757 10,067
NPC

Difference
Amounts on
Final Budget
and Actual
Basis
RECEIPTS
Shares, Grants and Donations 12,725,854 9,960,988 10,804,581 (843,593)
Gains - - - -
Others 945,555 694,100 2,171,065 (1,476,965)
Total Receipts 19,534,112 16,259,848 17,587,706 (1,327,858)
PAYMENTS
Capital Outlay 4,788,081 4,723,443 1,089,061 3,634,382
Others 3,728,146 3,735,371 4,360,838 (625,467)
Total Payments 20,988,178 21,357,421 12,690,045 8,667,376
NET RECEIPTS/PAYMENTS (1,454,066) (5,097,573) 4,897,660 (9,995,234)
849
(in thousand pesos)
PNR

Difference
Amounts on
Final Budget
and Actual
Basis
RECEIPTS
Assistance and Subsidy 1,289,649 1,289,649 529,191 760,458
Gains - - - -
Others - - 24,354 (24,354)
Total Receipts 1,899,281 1,899,281 946,632 952,649
PAYMENTS
Capital Outlay 487,400 487,400 71,654 415,746
Financial Expenses 574,649 574,649 15,242 559,407
Others - - - -
Total Payments 1,896,095 1,891,021 927,459 963,562
PPC

Difference
Amounts on
Final Budget
and Actual
Basis
RECEIPTS
Gains - - - -
Others 599,797 536,537 57,978 478,559
Total Receipts 5,387,318 5,119,125 3,536,712 1,582,412
PAYMENTS
Financial Expenses 21,768 21,768 20,182 1,587
Others 660,160 505,262 336,075 169,187
Total Payments 5,222,656 4,900,295 3,458,398 1,441,897
850
(in thousand pesos)
PSALM

Difference
Amounts on
Final Budget
and Actual
Basis
RECEIPTS
Gains - - 1,101,598 (1,101,598)
Others - - 40,989 (40,989)
Total Receipts 78,042,070 78,042,070 91,431,130 (13,389,060)
PAYMENTS
Capital Outlay 2,430,198 2,791,029 1,180,212 1,610,817
Others - - - -
Total Payments 170,371,267 172,137,267 129,962,028 42,175,238
TRANSCO

Difference
Amounts on
Final Budget
and Actual
Basis
RECEIPTS
Services and Business Income 3,586,986 3,586,986 104,535 3,482,451
Gains - - - -
Others 1,907,059 1,881,067 523,266 1,357,801
Total Receipts 5,494,045 5,468,053 627,801 4,840,252
PAYMENTS
Capital Outlay 1,548,949 1,548,949 515,714 1,033,235
Financial Expenses 130 130 32 98
Others 3,551,982 3,551,982 - 3,551,982
Total Payments 5,419,386 5,468,053 737,830 4,730,223
NET RECEIPTS/PAYMENTS 74,659 - (110,029) 110,029
851
(in thousand pesos)
TOTAL

Difference
Amounts on
Final Budget
and Actual
Basis
RECEIPTS
Gains - - 360 (360)
Others 58,159 58,159 3,856 54,303
Total Receipts 839,999 804,415 560,016 244,399
PAYMENTS
Capital Outlay 426,997 394,735 135,871 258,864
Others - - 48,302 (48,302)
Total Payments 815,786 761,319 525,520 235,799
APECO

Difference
Amounts on
Final Budget
and Actual
Basis
RECEIPTS
Gains - - - -
Others - - - -
Total Receipts 396,822 361,238 117,200 244,038
PAYMENTS
Capital Outlay 346,055 313,793 112,222 201,571
Others - - - -
Total Payments 396,822 361,238 158,920 202,318
NET RECEIPTS/PAYMENTS - - (41,720) 41,720
852
(in thousand pesos)
CFI

Difference
Amounts on
Final Budget
and Actual
Basis
RECEIPTS
Gains - - - -
Others 700 700 1,064 (364)
Total Receipts 21,995 21,995 19,334 2,661
PAYMENTS
Capital Outlay 800 800 944 (144)
Others - - - -
Total Payments 20,928 20,928 19,076 1,852
NET RECEIPTS/PAYMENTS 1,068 1,068 258 810
LLDA

Difference
Amounts on
Final Budget
and Actual
Basis
RECEIPTS
Gains - - 360 (360)
Others 57,076 57,076 2,435 54,641
Total Receipts 312,297 312,297 318,098 (5,801)
PAYMENTS
Capital Outlay 60,203 60,203 2,123 58,080
Others - - 48,302 (48,302)
Total Payments 312,297 294,136 271,095 23,041
NET RECEIPTS/PAYMENTS - 18,161 47,003 (28,842)
853
(in thousand pesos)
PDA

Difference
Amounts on
Final Budget
and Actual
Basis
RECEIPTS
Gains - - - -
Others 383 383 357 26
Total Receipts 108,885 108,885 105,384 3,501
PAYMENTS
Capital Outlay 19,939 19,939 20,582 (643)
Others - - - -
Total Payments 85,740 85,017 76,429 8,588
SCAD

Difference
Amounts on
Final Budget
and Actual
Basis
RECEIPTS
Gains - - - -
Others - - - -
Total Receipts 9,578 9,578 7,349 2,229
PAYMENTS
Capital Outlay 114 114 46 68
Others 771 771 771 -
Total Payments 10,885 10,885 5,606 5,279
NET RECEIPTS/PAYMENTS (1,307) (1,307) 1,743 (3,050)
854
(in thousand pesos)
TOTAL

Difference
Amounts on
Final Budget
and Actual
Basis
RECEIPTS
Gains 326 676 3,828 (3,152)
Others 85,288,955 85,305,758 49,576,124 35,729,634
Total Receipts 153,391,946 153,405,239 94,752,626 58,652,614
PAYMENTS
Capital Outlay 47,520,225 47,698,691 22,053,304 25,645,387
Others 77,132,010 76,932,010 42,407,749 34,524,261
Total Payments 148,079,923 148,377,413 81,317,370 67,060,043
NDA

Difference
Amounts on
Final Budget
and Actual
Basis
RECEIPTS
Assistance and Subsidy 199,945 199,945 199,945 -
Gains - - - -
Others 5,400 5,400 4,833 567
Total Receipts 289,951 289,951 268,404 21,547
PAYMENTS
Capital Outlay 212,257 212,257 34,513 177,744
Others - - - -
Total Payments 495,599 472,847 201,087 271,760
855
(in thousand pesos)
NFA

Difference
Amounts on
Final Budget
and Actual
Basis
RECEIPTS
Services and Business Income -
Gains - - - -
Others 77,305,300 77,305,300 40,844,255 36,461,045
Total Receipts 91,280,220 91,280,220 45,944,255 45,335,965
PAYMENTS
Capital Outlay 2,546,046 2,546,046 232,602 2,313,444
Others 75,525,413 75,525,413 37,399,215 38,126,198
Total Payments 90,483,665 90,483,665 45,837,010 44,646,655
NIA

Difference
Amounts on
Final Budget
and Actual
Basis
RECEIPTS
Services and Business Income 855,954 855,954 1,109,702 (253,748)
Gains - - 104 (104)
Others 7,756,458 7,756,458 8,618,476 (862,018)
Total Receipts 54,156,362 54,156,362 41,417,681 12,738,681
PAYMENTS
Maintenance and Other Operating Expenses 1,576,746 1,576,746 2,666,254 (1,089,508)
Capital Outlay 43,869,904 43,869,904 21,750,186 22,119,718
Others 975,000 975,000 4,729,089 (3,754,089)
Total Payments 49,012,631 49,012,631 31,570,315 17,442,316
856
(in thousand pesos)
NTA

Difference
Amounts on
Final Budget
and Actual
Basis
RECEIPTS
Assistance and Subsidy - 34,027 - 34,027
Gains - - 3,127 (3,127)
Others 5,800 5,800 6,155 (355)
Total Receipts 122,800 156,827 156,638 189
PAYMENTS
Capital Outlay (405,248) (205,248) (202,317) (2,931)
Others 618,962 418,962 279,444 139,518
Total Payments 539,913 911,789 208,432 703,357
PCA

Difference
Amounts on
Final Budget
and Actual
Basis
RECEIPTS
Assistance and Subsidy 4,281,264 4,281,264 4,181,609 99,655
Gains - - 25 (25)
Others 168,500 168,500 56,386 112,114
Total Receipts 4,852,764 4,852,764 4,623,816 228,948
PAYMENTS
Capital Outlay 1,041,977 1,041,977 118,810 923,167
Others - - - -
Total Payments 4,497,370 4,497,370 2,282,850 2,214,520
857
(in thousand pesos)
PRRI (Region 3)

Difference
Amounts on
Final Budget
and Actual
Basis
RECEIPTS
Services and Business Income 50,000 29,266 29,266 -
Gains - - - -
Others - - - -
Total Receipts 659,228 638,494 638,494 -
PAYMENTS
Capital Outlay 101,841 101,841 91,359 10,481
Others - - - -
Total Payments 659,228 659,228 602,896 56,332
NET RECEIPTS/PAYMENTS - (20,734) 35,598 (56,332)
QUEDANCOR

Difference
Amounts on
Final Budget
and Actual
Basis
RECEIPTS
Services and Business Income - - - -
Gains - - - -
Others - - - -
Total Receipts - - - -
PAYMENTS
Capital Outlay 7,314 7,314 162 7,152
Others 12,635 12,635 - 12,635
Total Payments 360,896 360,896 129,993 230,903
858
(in thousand pesos)
SRA

Difference
Amounts on
Final Budget
and Actual
Basis
RECEIPTS
Assistance and Subsidy 1,400,621 1,400,621 1,136,211 264,410
Gains 326 676 572 104
Others 47,497 64,300 46,019 18,281
Total Receipts 2,030,621 2,030,621 1,703,337 327,284
PAYMENTS
Maintenance and Other Operating Expenses 1,627,371 1,600,569 287,679 1,312,891
Capital Outlay 146,135 124,600 27,987 96,612
Others - - - -
Total Payments 2,030,621 1,978,987 484,786 1,494,201
NET RECEIPTS/PAYMENTS - 51,634 1,218,551 (1,166,917)
859
Cluster 6 - Social, Cultural, Promotional, Trading and Other Services
(in thousand pesos)
TOTAL

Difference
Amounts on
Final Budget
and Actual
Basis
RECEIPTS
Gains - 523 2,414 (1,891)
Others 110,298 110,298 133,805 (23,508)
Total Receipts 15,167,346 14,350,703 11,746,042 2,604,661
PAYMENTS
Capital Outlay 3,241,328 3,241,028 1,613,614 1,627,414
Others 229,442 229,442 211,030 18,412
Total Payments 15,968,875 14,973,771 11,260,538 3,713,233
NET RECEIPTS/PAYMENTS (801,529) (623,068) 485,504 (1,108,572)
BSoP

Difference
Amounts on
Final Budget
and Actual
Basis
RECEIPTS
Gains - - - -
Others - - - -
Total Receipts 345,384 345,384 403,840 (58,456)
PAYMENTS
Capital Outlay 6,379 6,379 2,491 3,888
Others 75,220 75,220 142,392 (67,172)
Total Payments 345,384 368,484 325,557 42,927
NET RECEIPTS/PAYMENTS - (23,100) 78,283 (101,383)
860
(in thousand pesos)
CCP

Difference
Amounts on
Final Budget
and Actual
Basis
RECEIPTS
Gains - - - -
Others 3,500 3,500 13,296 (9,796)
Total Receipts 220,912 220,912 233,351 (12,439)
PAYMENTS
Capital Outlay 874,045 874,045 366,549 507,496
Others 22,011 22,011 21,836 175
Total Payments 1,373,071 1,374,147 782,111 592,037
NET RECEIPTS/PAYMENTS (1,152,159) (1,153,235) (548,760) (604,476)
CITEM

Difference
Amounts on
Final Budget
and Actual
Basis
RECEIPTS
Gains - 523 523 -
Others - - - -
Total Receipts 285,500 286,023 286,947 (924)
PAYMENTS
Capital Outlay 10,000 9,700 3,508 6,192
Others - - - -
Total Payments 294,965 289,794 259,095 30,699
861
(in thousand pesos)
DAP

Difference
Amounts on
Final Budget
and Actual
Basis
RECEIPTS
Gains - - - -
Others 5,098 5,098 6,502 (1,404)
Total Receipts 1,216,810 1,216,810 599,489 617,321
PAYMENTS
Capital Outlay 112,860 112,860 11,591 101,269
Others - - - -
Total Payments 1,188,965 1,188,965 542,809 646,156
LCP

Difference
Amounts on
Final Budget
and Actual
Basis
RECEIPTS
Gains - - - -
Others - - - -
Total Receipts 990,600 990,600 826,498 164,102
PAYMENTS
Capital Outlay 70,000 70,000 69,531 469
Financial Expenses 5,900 5,900 5,023 877
Others - - - -
Total Payments 990,600 862,281 828,321 33,960
NET RECEIPTS/PAYMENTS - 128,319 (1,823) 130,142
862
(in thousand pesos)
NKTI

Difference
Amounts on
Final Budget
and Actual
Basis
RECEIPTS
Gains - - - -
Others - - - -
Total Receipts 3,695,509 3,122,235 3,077,977 44,258
PAYMENTS
Capital Outlay 756,096 756,096 123,416 632,680
Others - - - -
Total Payments 3,360,817 2,844,885 2,034,810 810,075
NET RECEIPTS/PAYMENTS 334,692 277,350 1,043,167 (765,817)
PCED

Difference
Amounts on
Final Budget
and Actual
Basis
RECEIPTS
Gains - - - -
Others - - - -
Total Receipts 52,745 52,745 53,238 (493)
PAYMENTS
Capital Outlay 8,000 8,000 8,000
Others - - - -
Total Payments 52,745 52,563 27,908 24,655
NET RECEIPTS/PAYMENTS - 182 25,330 (25,148)
863
(in thousand pesos)
PCMC

Difference
Amounts on
Final Budget
and Actual
Basis
RECEIPTS
Gains - - - -
Others - - - -
Total Receipts 1,023,710 1,023,710 871,870 151,840
PAYMENTS
Capital Outlay 6,000 6,000 6,000
Others - - - -
Total Payments 1,023,710 988,842 838,813 150,029
NET RECEIPTS/PAYMENTS - 34,868 33,057 1,811
PHC

Difference
Amounts on
Final Budget
and Actual
Basis
RECEIPTS
Gains - - - -
Others 101,700 101,700 114,008 (12,308)
Total Receipts 3,834,580 3,590,688 3,366,150 224,538
PAYMENTS
Personnel Services 1,341,797 1,137,669 1,139,099 (1,430)
Capital Outlay 610,622 610,622 555,421 55,201
Others - - - -
Total Payments 3,834,580 3,590,688 3,511,610 79,078
NET RECEIPTS/PAYMENTS - - (145,459) 145,459
864
(in thousand pesos)
PIDS

Difference
Amounts on
Final Budget
and Actual
Basis
RECEIPTS
Assistance and Subsidy 163,537 163,537 201,211 (37,674)
Gains - - - -
Others - - - -
Total Receipts 177,616 177,616 229,951 (52,335)
PAYMENTS
Capital Outlay 8,498 8,498 7,370 1,128
Others - - - -
Total Payments 198,270 194,639 153,468 41,171
PITAHC

Difference
Amounts on
Final Budget
and Actual
Basis
RECEIPTS
Gains - - - -
Others - - - -
Total Receipts 141,135 141,135 139,853 1,282
PAYMENTS
Capital Outlay 17,490 17,490 8,772 8,718
Others - - - -
Total Payments 178,549 162,668 137,378 25,290
865
(in thousand pesos)
PTNI

Difference
Amounts on
Final Budget
and Actual
Basis
RECEIPTS
Gains - - - -
Others - - - -
Total Receipts 1,064,489 1,064,489 676,350 388,139
PAYMENTS
Capital Outlay 708,939 708,939 462,698 246,241
Others - - - -
Total Payments 1,036,950 965,546 741,043 224,503
NET RECEIPTS/PAYMENTS 27,539 98,943 (64,693) 163,636
TPB

Difference
Amounts on
Final Budget
and Actual
Basis
RECEIPTS
Gains - - 1,891 (1,891)
Others - - - -
Total Receipts 1,845,587 1,845,587 744,177 1,101,410
PAYMENTS
Capital Outlay 16,864 16,864 1,008 15,856
Others - - - -
Total Payments 1,817,500 1,817,500 972,404 845,096
NET RECEIPTS/PAYMENTS 28,087 28,087 (228,227) 256,314
866
(in thousand pesos)
VFP

Difference
Amounts on
Final Budget
and Actual
Basis
RECEIPTS
Gains - - - -
Others - - - -
Total Receipts 272,768 272,768 236,349 36,419
PAYMENTS
Capital Outlay 35,535 35,535 1,259 34,276
Others 132,210 132,210 46,802 85,409
Total Payments 272,768 272,768 105,210 167,558
NET RECEIPTS/PAYMENTS - - 131,139 (131,139)
867
COMMISSION ON AUDIT
KEY OFFICIALS
COMMISSION PROPER
Michael G. Aguinaldo
Chairperson
Jose A. Fabia
Commissioner I
Roland C. Pondoc
Commissioner II
Assistant Commissioners
Wilfredo A. Agito
Lourdes M. Castillo
Winnie Rose H. Encallado
Susan P. Garcia
Alexander B. Juliano
Rizalina Q. Mutia
Carmela S. Perez
Manolo C. Sy
Luz L. Tolentino
Elizabeth S. Zosa
CORPORATE GOVERNMENT SECTOR
Winnie Rose H. Encallado
Assistant Commissioner
Emma U. Escusa – Director III
Cluster 1 – Banking and Credit

Adela L. Dondonilla – Director IV
Agnes A. Marcelo – Director III
Cluster 2 – Social Security Services and Housing

Ma. Lisa P. Inguillo – Director III, Officer In-Charge Director IV
Ma. Lydia F. De Joya – Director III
Cluster 3 – Public Utilities

Leila S. Paras – Director IV
Julia E. Moreno – Director III
Cluster 4 – Industrial and Area Development

Elsielyn C. Masangkay – Director IV
Emma V. Moises – State Auditor V, Officer In-Charge Director III
Cluster 5 – Agricultural and Natural Resources

Mary S. Adelino – Director IV
Cora D. Marquez – Director III
Cluster 6 – Social, Cultural, Trading, Promotional

and Other Services
Cleotilde M. Tuazon – Director IV
Minerva T. Cabigting – Director III
LOCAL GOVERNMENT SECTOR
Rizalina Q. Mutia
Carmelita O. Antasuda – Director IV

Reynaldo G. Gamutan – Director III
Lucila M. Isidro – Director III
COA REGIONAL OFFICIALS
LUZON GROUP
COA National Capital Region COA Cordillera Administrative Region
Adelina Concepcion L. Ancajas – Director IV Joseph B. Anacay – Director IV
Omar S. Roque – Director III Mary D. Bacwaden – Director III
COA Regional Office No. I COA Regional Office No. II

Michael R. Bacani – Director IV Susan C. Ramirez – Director III, Officer In-Charge
Cecilia G. Ancheta – State Auditor V, Officer In-Charge Bismarck R. Turingan – State Auditor V, Officer In-Charge
COA Regional Office No. III COA Regional Office No. IV-A
Lynn SF. Sicangco – Director IV Mario G. Lipana – Director III, Officer In-Charge
Elenita DV. Lumongsod – Director III Maria Olivia V. Ortega – Director III
COA Regional Office No. IV-B COA Regional Office No. V

Ma. Corazon S. Gomez – Director IV Roland A. Rey – Director IV
Lynflor M. Adolfo – Director III Lydia S. Adoremos – Director III
VISAYAS GROUP
COA Regional Office No. VI COA Regional Office No. VII
Gileo S. Alojado – Attorney VI, Officer In-Charge Eden T. Rafanan – Director IV
Marilou M. Rizarri – Director III
COA Regional Office No. VIII COA Regional Office No. XVI
Lita E. Diez – Director IV Chona P. Labrague – Director IV
Felix M. Basallaje, Jr. – Director III
MINDANAO GROUP
COA Regional Office No. IX COA Regional Office No. X
Visitacion Q. Mendoza – Director IV Celso L. Vocal – Director IV
Daphne Grace P. Bellen – Director III Jerry K. Mero – Director III
COA Regional Office No. XI COA Regional Office NO. XII

Roy L. Ursal – Director IV Susan P. Donalvo – Director IV
Helen M. Cailing – Director III Virginia G. Datukon – Director III
COA Regional Office No. XIII COA Autonomous Region in Muslim Mindanao
Usmin P. Diamel – Director IV Bato S. Ali, Jr. - Director IV
Marisol D. Legaspi – Director III
GOVERNMENT ACCOUNTANCY SECTOR
Office of the Assistant Commissioner

Lourdes M. Castillo
Atty. Juanita C. Fuggan State Auditor IV, Officer In-Charge Chief of Staff
Luisa S. Nadonga Supervising Administrative Officer
Maricel S. Ampoc Administrative Officer II
Benjie D. Baturi Administrative Aide VI
Magdalena M. Gaviola Administrative Aide IV
Government Accountancy Office

Office of the Director
Villa DJ. Bernaldo
Director IV
Maria S. Sarmiento
Director III
Ma. Belen L. Estuaria Chief Administrative Officer
Mary Jane S. Liberato Administrative Officer II
Rufa L. Gunabe Administrative Aide V
Maria C. Lainez Administrative Aide V
Teddy N. Alejandro Administrative Aide IV
General Accounts Services - National I

Anicia H. Guillermo
State Auditor V
Lorelei L. Datu State Auditor IV
Susan C. Vega State Auditor III
Carol M. Orpia State Auditor II
Bryan B. Viloria State Auditor I
Jannette N. Caluya State Auditing Examiner II
General Accounts Services - National II

Thelma F. Panganiban
State Auditor V
Narcisa S. dela Rosa State Auditor III
Jane L. Maramag State Auditor III
Ma. Corazon D. Eguia State Auditor II
Rodel Joseph Y. Navarro State Auditor II
Earvin John R. Bote State Auditor I
Erwin C. Santos State Auditing Examiner II
Public Debt and Miscellaneous Accounts Services

Marilyn C. Bibat
State Auditor V
Elmer M. Grande State Auditor IV
Visitacion T. Corpuz State Auditor III
Jose Jayson L. Medel State Auditor II
Joseph Emmanuel I. Romero State Auditor I
Luthor Ace C. Villalva State Auditing Examiner II
Local Government Accounts Services
Avelina G. Marquez
State Auditor IV, Officer In-Charge Service Chief
Maribel G. Cablayan State Auditor III
Aida A. Donasco State Auditor III
Joven L. Recto State Auditor III
Elizabeth D. Ducay State Auditor II
Ana Liza G. Balares State Auditing Examiner II
Corporate Government Accounts Services

Editha M. Ramirez
State Auditor V
Ma. Lourdes D. Marayan State Auditor IV
Zenaida P Balmes State Auditor III
Elizabeth P. Quiban State Auditor II
Princess B. Somera State Auditor II
Zosimo C. Gamanos, Jr. State Auditor I
Accounting Systems Development and Other Services Office

Office of the Director
Luzvi Pangan Chatto
Director IV
Elena B. Monteza
Director III (Retired, August 18, 2018)
Annabelle A. Puserio
State Auditor V, Officer In-Charge Director III
Ana Marie D. Gellecanao Supervising Administrative Officer

Editha C. Ramirez Administrative Assistant VI
Lailah D. Chua Administrative Officer II
Marissa D. Labajan Administrative Aide IV
Accounting Systems Development and Other Services - National

Vanessa Donnabel F. Manito
State Auditor IV, Officer in-Charge Service Chief
Pretizel Ivy T. Arteche State Auditor II
Rossmon A. Doroja State Auditor I
Barby Ann G. Laceda State Auditing Examiner II
Berlin M. Quevedo Administrative Officer II
Dessaries T. Gow Administrative Aide VI
Accounting Systems Development and Other Services - Corporate

Annabella P. Gabiran
State Auditor V
Juanita C. Fuggan State Auditor IV (in concurrent capacity)
Mairyl Ann M. Tibulan State Auditor II
Arnel A. Manalastas State Auditor I
Ma. Yvonne J. Regala State Auditing Examiner II
Xezarajjah S. Villanueva State Auditing Examiner II
Accounting Systems Development and Other Services - Local
Carmen Z. Zafe
State Auditor V
Jorgen Z. Fulleros State Auditor IV (in concurrent capacity)
Cristina C. Gungon State Auditor III
Hannah Grace P. Valente State Auditor I
Mhay L. Ondoy Administrative Aide VI
Technical Assistance and Help Desk Services

Romeo C. Cruz
State Auditor V
Jorgen Z. Fulleros State Auditor IV
Michelle M. Gagarra Information Systems Analyst II
Ma. Karizza AA. Cabildo Administrative Officer II
Dianne Nicole G. Gabriel Administrative Officer II
Sarah Joy M. Lambino Administrative Officer II
Lev Justin E. Saclayan Administrative Officer II
Kayla Mae B. Servigon Administrative Officer II
Jenica V. Edoria State Auditing Examiner II
Gabriel B. Mercado Computer Maintenance Technologist I
Jeline G. Esase Computer Maintenance Technologist I
Lara Jane M. dela Torre Administrative Aide VI
Shekinah Roebec M. Osorio Administrative Aide VI
Christian L. Baturi Administrative Aide VI

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2017 AFR GCs Volume I PDF

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CY 2017

Legal Framework ......................................................................................................... v

Part I – Financial Highlights

Part II – Combined Financial Statements

 Combined Statement of Financial Position.......................................................... 13

Part III – Schedules and Annexes

Part IV – Summary of Audit Results

Summary of Audit Results ....................................................................................... 202

Part V – Financial Statements

Combined Financial Statements, by Cluster

Financial Statements by Government Corporations

Contents and Limitations

a. Statement of Financial Position;

The Statement of Comprehensive Income (SCI) is a combination of the SCIs submitted by

Chart I-1 Financial Position for CYs 2017 and 2016

4,000 3,273.30 2,971.47

Assets – P12.640 trillion

P 7.76 or 61.39 % Non-Current Assets

Current Assets – P7.756 trillion

Table I-1 Comparative Composition of Current Assets

Table I-2 Comparative Composition of Non-Current Assets

Liabilities – P9.367 trillion

Current Liabilities – P3.935 trillion

Table I-3 Comparative Composition of Current Liabilities

Table I-4 Comparative Composition of Non-Current Liabilities

Net Assets/Equity – P3.273 trillion

Government Equity 114.55

(1,000.00) - 1,000.00 2,000.00 3,000.00 4,000.00

Income – P1.141 trillion

Shares, Grants and

Tax Revenue, P2.85 or

Table I-5 Comparative Composition of Income

Chart I-6 Composition of Total Expenses for CY 2017

9.72% Personnel Services

Table I-6 Comparative Composition of Expenses

Non-Cash expenses consist of Depreciation of P30.20 billion, Amortization of P652.41

Changes in Net Assets/Equity – P3.273 trillion

Table I-7 Comparative Composition of Net Assets/Equity

Table I-8 Comparative Cash Flows, by Activity, CYs 2017and 2016

Comparison of Budget and Actual Amounts

With the adoption of Philippine Public Sector Accounting Standards (PPSAS) 24 on

Total Assets 12,640,035,288 12,021,846,454

Total Liabilities 9,366,732,464 9,050,373,792

Government Equity 137,131,586 114,548,754

Total Liabilities and Net Assets/Equity 12,640,035,288 12,021,846,454

The notes on pages 41 to 62 form part of these statements.

Difference between totals and sum of components is due to rounding off.

Tax Revenue 45 2,852,449 2,414,944

Total Income 1,140,597,517 1,096,194,549

Personnel Services 50 89,833,099 85,158,225

Total Expenses 924,091,394 955,399,733

Profit/(Loss) Before Tax 216,506,123 140,794,816

The notes on pages 62 to 69 form part of these statements.

Difference between totals and sum of components is due to rounding off.

ADJUSTMENTS: 3,870,107 (32,422) 3,288,592 20,000 - 21,190 (10,747,205) (3,579,737)

The notes on pages 61 to 62 form part of these statements.

Difference between totals and sum of components is due to rounding off.

CASH FLOWS FROM OPERATING ACTIVITIES

CASH FLOWS FROM INVESTING ACTIVITIES

CASH FLOWS FROM FINANCING ACTIVITIES

INCREASE/(DECREASE) IN CASH AND

Effects of Exchange Rate Changes on Cash and

CASH AND CASH EQUIVALENTS, JANUARY 1 1,236,945,299 1,108,971,378