the Blue Ocean

National Maritime Polytechnic
Tacloban City
Income statement
for the Year Ended December 31, 2011
Income
Subsidy Income from National Government
Receipt from Notice of Cash Allocation P 99,921,348.00
Tax Remittance Advice 4,492,133.04
Total P 104,413,481.04
Less: Reversion of Unsused NCA 939,081.73
Return of Excess from liquidation of cash advances 63,403.01
P 103,410,996.30
Seminar Fees 13,112,257.53
Income from Dormitory Operation 169,250.00
Miscellaneous Operating and Service Income 791,344.69
Other Services Income 6,900.00
Interest Income 639.18
Gain/Loss Accounts
Gain/Loss on Foreign Exchange (FOREX) (91,856.68)
TOTAL INCOME P 117,399,531.02
Less: Expenses
Salaries and Wages - Regular Pay 24,210,965.95
Personnel Economic Relief Allowance 2,483,790.11
Representation Allowance 200,000.00
Transportation Allowance 188,441.89
Clothing Allowance 420,000.00
Productivity Incentive Bonus 220,000.00
Honoraria 3,559,901.20
Longevity Pay 4,015.62
Overtime and Night Pay 75,697.72
Cash Gift 522,000.00
Year-End Bonus 2,086,816.15
Life and Retirement Insurance Contribution 2,877,780.87
Pag-ibig Contribution 123,228.28
Philhealth Contribution 280,125.00
ECC Contribution 122,670.13
Terminal Leave Benefits 806,894.77
Health Workers Benefits 110,132.39
Other Personnel Benefits 3,677,363.39
Travelling Expense - Local 2,157,409.88
Travelling Expense - Foreign 47,835.83
Training Expenses 1,772,889.35
Scholarship Expenses 6,000.00
2011 Annual Report
Office Supplies Expense 1,691,841.72
Accountable Forms Expense 130,250.00
Drugs and Medicine Expense 97,657.69
Medical and Dental Expense 31,013.16
Gasoline, Oil and Lubricants 1,361,293.26
Textbooks and Instructional Expense 552,206.83
Other Supplies Expense 737,728.34
Water Expense 259,273.27
Electricity Expense 3,327,562.39
Postage and Deliveries 126,171.70
Telephone Expense - Landline 308,923.68
Telephone Expense - Mobile 97,596.42
Internet Expense 698,418.00
Cable, Satellite, Telegraph and Radio Expenses 5,600.00
Membership Due and Contribution to Org. 23,250.00
Advertising Expense 81,804.00
Printing and Binding Expense 1,199,062.00
Rent Expense 1,016,965.59
Representation Expense 1,471,392.73
Trasportation and Delivery Expense 2,373.35
Subscription Expense 186,892.00
Legal Services 147,190.00
Auditing Services 8,139.50
General Services 1,304,919.96
Security Services 3,509,785.18
Other Professional Services 449,082.74
Repairs and Maintenance-Building 236,072.80
Repairs and Maintenance-Office Equipment 9,000.00
Repairs and Maintenance-IT Equipment & Software 3,000.00
Repairs and Maintenance - Motor Vehicle 15,753.90
Extraordinary Expenses 2,589.00
Miscellaneous Expenses 75,553.14
Taxes, Duties and Fees 23,854.36
Fidelity Bond Premium 214,842.73
Insurance Expense 846,768.55
Depreciation Expense-Land Improvements 183,262.64
Depreciation Expense-Electrical, Power & Energy 111,806.31
Depreciation Expense-Buildings 13,567,337.44
Depreciation Expense-Office Equipment 689,429.13
Depreciation Expense-Furnitures and Fixtures 211,058.00
Depreciation Expense-IT Equipment 836,745.17
Depreciation Expense-Library Books 212,629.67
Depreciation Expense-Machineries 249,220.97
Depreciation Expense-Communication Equipment 45,589.71
Depreciation Expense-Firefighting Equipment 1,565,819.97
Depreciation Expense-Medical, Dental & Lab. 8,768.54
Depreciation Expense-Tech. and Scien. Equipment 5,524,435.51
Depreciation Expense-Other Maintenance & Eqpt 313,874.07
Depreciation Expense-Motor Vehicles 124,905.00
Depreciation Expense-Watercraft 1,381,198.78
Depreciation Expense-Other PPE 167,497.52
Other Maintenance & Operating Expenses 5,357,486.47
Bank Charges 1,107.00
Total Expenses P 96,759,958.42
Net Subsidy Over Expense P 20,639,572.60
Statement of Cash Flows
Period Ended January 01, 2011 to December 31, 2011
Cash Flow from Operating Activities:
Cash Inflows:
Receipts of NCA from DBM
Regular P 99,921,348.00
Staled/Cancelled Checks 457,238.86
Receipts of refund of cash advance 34,858.36
Unclaimed checks 2011 6,867,942.23
Cash reciepts from interest income 693.18
Cash reciepts from seminar fees 13,112,257.53
Cash reciepts from other services income 6,900.00
Cash reciepts from dormitory operations 169,250.00
Cash reciepts from miscellaneous income 791,344.69
Total Cash Inflows P 121,361,778.85
Cash Outflows:
Reversing entry for CY 2010 unreleased checks
MDS 1,994,784.66
LCCA 416,773.07
Returned of unused NCA 939,081.73
Liquidation of cash advance 421,696.97
Gain/Loss on Foreign Exchange 91,856.68
Cash payment for operating expenses 97,770,643.53
Total Cash Outflows P 101,634,836.64
Cash Provided from Operating Activities P 19,726,942.21
Cash Flow from Investing Activities
Cash Inflows:
Staled/Cancelled Checks P 10,219.54
Total Cash Inflows 10,219.54
Cash Outflows:
Disbursement P 13,139,455.42
Total Cash Outflows 13,139,455.42
Cash Provided by Investing Activities
P(13,129,235.88)
Total Cash Provided by Operating and Investing
Activities
6,597,706.33
Add: Cash Balance. Beginning January 1, 2011 8,307,098.55
Cash Balance, Ending P 14,904,804.88
2011 Annual Report
NMP Annual Report 2011 26