budget performance 2011

ANNUAL STATE OF LOCAL GOVERNANCE REPORT 2011

BUDGET PERFORMANCE AND FINANCIAL STATEMENTS

The province maintained three funds namely: General, Special Education and Trust

Funds. There are eight provincial tax impositions authorized under Section 135-141 of RA

7160; which are: Real Property, Amusement, Franchise, Sand and Gravel Taxes, Annual Fix

Tax, Transfer tax on Real Property, Ownership Tax on Publishing and Printing and

Professional Taxes. Economic enterprises maintained are on the use of public buildings for

rent like the Ilocano Heroes Hall, Dap-ayan, Centennial Arena, Marcos Stadium Quarters,

Rizal Park, Malacañang of the North and Hotel and Convention Center.

The Province is also maintaining one (1) tertiary hospital which is Gov. Roque B.

Ablan, Sr. Memorial Hospital (GRBASMH) and district hospitals namely Bagui District

Hospital, Dingras District Hospital, Piddig District Hospital, Doña Josefa Edralin Marcos

District Hospital, Vintar District Hospital and Pagudpud Extension District Hospital.

The Provincial Government of Ilocos Norte continuously seeks to provide the basic

quality services needed by its constituents and to realize the Honorable Governor’s vision

“Pasingkedan ti kinatan-ok ti Ilokano” and missions which are a.) Rapid and Sustained

Growth b.) Enabling Environment c.) Inclusive Growth and d.) Uphold Ilocano Heritage and its

positive values, the following are being undertaken:

a) Province of Ilocos Norte is being developed as a Tourism Spot in the North:

The Provincial Government of Ilocos Norte has purchase one of the tourist spot at

Burgos called Capurpuraoan

Improvement of Commercial Arcade and Plaza, by constructing an Overseer Quarter

at the UNESCO Heritage Site and Tourist Destination.

Construction and improvement of Museo Ilocos Food Retail Annex and Tabacalera

and now developed as a Commercial Center.

Improvement of Paoay Lake National Park Nagbacalan Viewdeck which was also

acquired by the Province.

On-going construction of Badoc Gateway, which adds as Tourist attraction in the

locality.


Tan-ok ni Ilokano Festival of Festivals was undertaken at the Ferdinand E. Marcos

Stadium last November 12, 2011. Tan-ok ni Ilokano is a showcase of festival dances

from the 21 municipalities and 2 cities of Ilocos Norte. This is the biggest attempt yet

to raise the bar in cultural performance in the Province, boosting the Ilocano’s sense

of pride, unity and greatness.

b) Millennium Development Goals of the Provincial Government of Ilocos Norte:

The Provincial Government of Ilocos Norte expressed its eagerness to respond to the

MDG challenges by continuously initiating a change process that aims to develop the

provincial government capacity towards improving the delivery of basic service to its

constituents thru the distribution of medicines to subsidize the high cost of medicines, food

packages “Noche Buena” given to the family of the poorest of the poor, and providing

financial assistance for livelihood programs for Sari-sari store and Buy and Sell Fund.

Provision of fish nets, grill nets and beach seine and vegetable seeds were also distributed

for food sufficiency.

c) Education Program of the Provincial Government of Ilocos Norte:

Pursuant to its objectives, the Province continuously seeks to provide the best

services needed by its constituents, particularly in the field of education. The province

sponsored the following program, “INEC Bill Mo Sagot Ko” and payment of miscellaneous

fees of indigent students for High School and Elementary who were enrolled in various

Public Schools of Ilocos Norte. Likewise also with the intermediate level, qualified indigent

students enrolled in Mariano Marcos State University for the Iskolar ni Manang Imee”

Program with a total recipients of 105 scholars and the old program Ilocos Norte Provincial

Scholars with a total recipient of 43 qualified scholars.

School buildings are constructed and improved. School materials such as books,

tablet armchairs, blackboards, hand tools are being purchased and distributed to different

schools in the province.

d) Development of Hospitals of the Province of Ilocos Norte:

The Province is also a recipient of the European Commission Grant for the upgrading

of rural health units to BEMONC/CEMONC facilities. Renovation of PHO Technical building

and construction of placenta pits of various municipalities.


Medical tools and Equipments are purchased and the different facilities of the district

hospitals are improved and repaired to provide better health services.

The Province has undertaken construction for the improvement of hospitals such as

Gov. Roque B. Ablan Hospital, Bangui District Hospitals and Dingras District Hospitals under

the loan program of HSDP-ADB/MDFO (Health Sector Development Program –Asian

Development Bank/Municipal Development Fund Office), which 50% loan, 30% grant and

20% equity.

e) Other Programs of the Province of Ilocos Norte:

Public Infrastructures include improvement, rehabilitation and construction of

provincial roads, bridges, schools and the like, on the different municipalities of the

Province.

Sports Development Program of the province has purchased additional sports

equipments provided to students especially for the provincial athletes and provision of the

training programs of athletes for the IRAA competition.

BASIS OF FINANCIAL STATEMENTS PRESENTATION

The Financial Statements have been prepared in accordance with the Generally Accepted

Accounting Principles and Standards and the application of the New Government Accounting

System, Third Edition which was adopted beginning October 2003.

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

The agency uses accrual basis of accounting. All expenses are recognized when

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

The costs of ending inventory of office supplies and materials and other inventory

items are computed using the First in-First out Method (FIFO)

Property Plant and Equipment are carried at cost less accumulated depreciation.

The Straight Line Method of depreciation is used in depreciating the Property Plant

and Equipment with estimated useful lives from three to fifty years. A residual value,

computed at ten percent of the cost of asset is set and depreciation starts on the

following month after date of purchase.


Payable accounts are recognized and recorded in the books of accounts only upon

acceptance of the fixed assets, inventory and rendition of services to the agency.

Accounts were reclassified to conform with new Chart of Accounts prescribed under

the New Government Accounting System which was implemented effective October,

2003.

Transactions in foreign currencies are recorded in Philippine Peso based on the

Bangko Sentral ng Pilipinas’ (BSP) rate of exchange prevailing at the date of the

transactions.

CORRECTION OF FUNDAMENTAL ERRORS

Fundamental errors of prior years are corrected by using the Prior Years’

Adjustments account. Errors affecting current year’s operation are charged to the current

year’s accounts.

Cash and Other Cash Accounts P 613,973,237.73

This account is broken down as follows:

2011 2010

Cash in Vault P 6,613,419.24 P 5,793,154.13

General Fund 3,253,437.23 3,534,600.18

Special Education Fund 336,970.41 1,418,464.13

Trust Fund 3,023,022.60 840,089.82

Payroll Fund 242,325.93 480,406.11

General Fund 42,414.97 460,816.69

Special Education Fund 0.00 0.00

Trust Fund 199,910.96 19,589.42

Cash in Bank–Loc. Cur.–C/A 178,670,013.94 178,670,013.94

General Fund 298,534,712.64 136,619,989.04

Special Education Fund 4,555,185.57 1,009,579.23

Trust Fund 61,682,976.83 41,040,445.67

Cash in Bank–Loc. Cur.–S/A 9,500,000.00 9,500,000.00

General Fund 0.00 0.00


Trust Fund 9,500,000.00 9,500,000.00

Cash in Bank–Loc. Cur.–T/D 232,618,692.61 242,321,150.42

General Fund 232,618,692.61 242,321,150.42



Trust Fund 0.00 0.00

Cash in Bank-Foreign Cur.-S/A (US$5,090.13 @P46.20)

225,924.89 222,830.48

General Fund 225,924.89 222,830.48



Totals P613,973,237.73 P436,987,555.08

Cash in Vault represents coins, bills and cash in the possession of the Provincial

Treasury which are proceeds of income and other receipts on the last working day of the

calendar year of 2011 and which are eventually deposited in bank in the first working day of

the next calendar period, January, 2012.

Payroll Fund represents cash advances by cash disbursing officers officially

designated. These cash advances are for the Provincial Employees’ RATA, TEV and other

benefits due to officers and employees and also includes the ATM payroll thru DBP the

salaries and wages of all officers and employees of PGIN.

Cash in Bank includes deposits in banking units: current, savings and time deposits in

PVB, DBP and Land Bank. Interests earned are debited to their corresponding bank

accounts. Time deposits are usually pre-terminated when needed. Below shows the

composition of the Cash in Bank account (see separate schedule).

Under the Special Education fund, the Provincial Government is maintaining only one

current account with the Land Bank of the Philippines, Laoag Branch.

Interest income earned in the bank is debited to its corresponding account - LBP Account

Number 0262-00144-10.

Receivables P 263,545,246.57

The amount is broken down as follows:

2011 2010

Receivable Accounts P234,796,577.50 P274,918,809.05

General Fund 228,510,783.45 268,779,034.50


Trust Fund 6,285,794.05 6,139,774.55

Inter-Agency Receivables 7,062,339.62 2,425,967.28


General Fund 3,527,182.40 1,542,100.14

Special Education Fund 3,535,157.22 883,867.14


Intra-Agency Receivables 0.00 0.00

General Fund 0.00 0.00



Other Receivables 4,872,831.84 4,872,831.84

General Fund 21,663,977.04 3,094,077.33

Special Education Fund 0.00 1,755,000.00

Trust Fund 22,352.51 773,754.51

Totals P263,545,246.67 P46,365,664.70

Receivable accounts include:

Loans Receivable, others under the General Fund and Trust Fund are various loan

assistance extended by the Provincial Government to indigents, farmers and cooperatives

from the different municipalities of the province for livelihood projects, livestock and

agricultural purposes amounting to P34,349,834.83. This has the purpose of uplifting the

Province’s economy and improve the income of its constituents.

Notes Receivable, are loans granted by Land Bank of the Philippines for the

loan/monetization of RA7171 for the current year’s 2002-2009 amounting to

P200,405,920.00 payable in seven (7) equal annual installments.

Due from Officers and Employees amounting to P 40,822.67 are those under

remittance of various collecting officers of the PGIN which includes the un-liquidated

shortage of Mr. Hope Taruc amounting to P 31,181.00.

Inter-agency Receivables include the following:

2011 2010

Due from NGAs P 9,116.97 P 9,116.97

Due from GOCCs 112,884.55 186,188.93

Due from LGUs 6,940,338.10 2,230,661.38

Total P 7,062,339.62 P 2,425,967.28

Due from National Government Agencies accounts are over-remittances / payment

to various NGA’s since 1993.


Due from GOCCs account represent over-remittances of PGIN employees’

contributions made in previous years to GSIS. There is an over-remittance when full

contributions are made on time for each month regardless of the presence of unforeseen

contingencies like employees’ demise, resignation, termination of service, retirement and

the like occurring after the remittance made. Written communications have been frequently

sent to GSIS to collect the refund and GSIS promise to refund the amount.

Due from Local Government Units are assessed local taxes due from various

municipalities as of December, 2011. Remittance is expected to be collected in the

succeeding month, January, 2012.

Other Receivables of P 4,872,831.84 includes the following:

Disallowances/charges of P1,263,178.00 pertains to unsettled accounts of previous

years and current year 2011. Collections and settlements have been effected through

staggered salary deductions from benefits of concerned officers and employees.

Other Receivables of P 142,352.34 which represent Bangui and Pagudpud District

Hospitals transferred receivable accounts of P 143,693.34 during the devolution and

unrecorded under remittance amounting to a negative P1,341.00 of Bangui District Hospital.

INVENTORIES P 4,682,819.62

Only the General Fund has Inventory balances.

The costs of ending inventory of office supplies and materials and other inventory

items are computed using the First in First out Method (FIFO). Supplies purchased on an

earlier date are consumed first before subsequent ones.

This account is composed of the following:

GENERAL FUND : 2011 2010

Office Supplies Inventory P 4,334,472.62 P 4,189,169.62

Accountable Forms Inventory 255,031.50 10,850.00

Medical, Dental & Lab Supplies Inventory. 20,000.00 27,300.00

Agricultural Supplies Inventory 0.00 1,000.00

Textbooks & Instructional Matl. Inventory 47,936.00 42,865.00


Other Supplies Inventory 724,482.05 199,915.00

Total P 5,381,922.17 P 4,471,099.62

Office supplies are those supplies purchased for use at the Hotel and Convention

Center and supplies requested per office through purchase requests.

Accountable forms inventory are those forms purchased like official receipts and cash

tickets to be used at the Treasurer’s office.

Medical, Dental and Laboratory Supplies Inventory are those items for Provincial

Agriculture Office used.

Textbooks and Instructional Materials Inventory are those books purchased to be

used at the Provincial Library.

Other Supplies Inventory are those items purchased like kitchen utensils, grinding

machine and various items used by the utility workers.

PREPAYMENTS P 3,227,475.23

Prepayments are composed of the following:

2011 2010

Prepaid Insurance P 1,381,472.60 P 453,060.18

General Fund 1,381,472.60 453,060.18



Advances to Contractors 1,669,957.70 732,950.01

General Fund 603,500.97 717,317.11

Special Education Fund 0.00 15,632.90

Trust Fund 1,066,456.73 0.00

Other Prepaid Expenses 176,044.93 150,733.79

General Fund 176,044.93 150,733.79



Total P 3,227,475.23 P 1,336,743.98

Prepaid Insurance amounting P 1,381,472.60 are those unexpired portion of

Insurance Premiums for 2011.


Advances to Contractors of P 1,669,957.70 represents the 15% advance payment

made to AB Taylan Construction for the construction of Museo Ilocos food/retail annex Pjase

II and construction of Marcos Hall of Justice.

Other Prepaid Expenses of P 176,044.93 pertains to the unexpired portion of Fidelity

Bond Premiums.

OTHER CURRENT ASSETS P 100,000.00

Guaranty Deposits- deposit for gasoline container of Flying V installed at the

Motorpool in compliance with the terms and conditions.

PROPERTY, PLANT AND EQUIPMENT P 1,319,439,790.87

This account consists of:

Balance December 31, 2010

Net Addition/ (Reduction)

Balance December 31, 2011

Land P 121,629,279.26 P 4,034,556.00 P 125,663,835.26

Land Improvements 0.00 0.00 0.00

Buildings 619,977,906.53 125,994,817.07 745,972,723.60

Office Equipment, Furniture and Fixtures

107,147,978.57 23,315,957.21 130,463,935.78

Machineries and Equipment 263,947,516.75 4,873,359.43 268,820,876.18

Transportation Equipment 72,825,346.49 17,439,960.00 90,265,306.49

Other Property, Plant and Equipment

31,672,406.06 5,196,143.27 36,868,549.33

Construction in Progress 103,122,206.83 (40,050,306.09) 63,071,900.74

Total P1,320,322,640.49 P140,804,486.89 P1,461,127,127.38

Acc. Depreciation 105,915,849.24 35,771,487.27 141,687,336.51

Net Amount P1,214,406,791.25 P 105,032,999.62 P1,319,439,790.87

Fixed assets are valued at cost less depreciation.

Only assets acquired for the year 2002 to 2009 were subject to depreciation using

the straight-line method.


Constructions in Progress of P 63,071,900.74 are on-going projects which are

expected to be completed this year and for the succeeding years. The composition is as

follows:

CIP-Agency Assets P 34,905,055.40

CIP- Roads, Highways & Bridges 2,260,419.40

CIP- Other Public Infrastructures 25,906,425.94

Total P 63,071,900.74

Completed projects amounting to P 5,354,486.09 were closed to the Public

Infrastructures account which were duly recorded in the Registry of Public Infrastructures

then subsequently closed to the Government Equity account. The compositions are the

following:

Roads, Highways and Bridges P 2,352,840.49

Parks, Plazas and Monuments 1,965,295.24

Other Public Infrastructures 1,036,350.36

Total P 5,354,486.09

OTHER ASSETS P 5,829,376.08

Other Assets is broken down as follows:

2011 2010

GENERAL FUND :

Work/Other Animals P 964,000.00 P 964,000.00

Breeding Stocks 84,400.00 84,400.00

Other Assets 4,780,976.08 4,780,976.08

Total P 5,829,376.08 P 5,829,376.08

CURRENT LIABILITIES P 254,110,665.65

The total current liabilities are broken down as follows:

2011 2010

Payable Accounts P 93,095,739.04 P 32,339,150.15

General Fund 88,921,653.89 30,534,851.72


Special Education Fund 4,124,286.72 1,755,000.00

Trust Fund 49,798.43 49,298.43

Inter-Agency Payable 49,897,974.50 21,518,001.61

General Fund 10,137,366.01 9,666,537.66

Special Education Fund 8,964.85 2,213.19

Trust Fund 39,751,643.64 11,849,250.76

Intra-Agency Payable 1,104,625.11 112,488.68

General Fund 1,000,000.00 0.00


Trust Fund 104,625.11 112,488.68

Other Liability Account 110,012,327.00 100,096,630.83

General Fund 74,423,685.03 60,683,789.28


Trust Fund 35,588,641.97 39,412,841.55

Total P254,110,665.65 P154,066,271.27

Payable accounts include Accounts Payable which comprises 36% of the total current

liabilities. This includes obligated vouchers for official purchases and payments of personal

services, utilities and other expenditures covered by the current year’s budget to be paid in

2012.

Inter-Agency Payables under the General Fund and Trust Fund, are un-remitted

contributions withheld from Provincial employees’ salaries for income taxes due to BIR,

premiums and loans due to GSIS , Pag-ibig, and Philhealth contributions. Remittance is to be

made in the month of January, 2012. Over and under remittance of Cooperative loan, GSIS

Loans and Premiums, Pag-Ibig Loans and Premiums and Due to BIR shall be adjusted to

employees’ concerned and shall take effect on January to February, 2011. This also includes

the Creditable Income Tax (CIT) and Value Added Tax (VAT) withheld from various

creditors/suppliers for taxes due to BIR. These also includes the grants given by the National

Agencies for the Government which are intended for projects under Trust Fund account.

Intra-Agency Payables represents Due to Other Funds of which under General Fund

account amounting to P1,000,000.00 are the Priority Development Assistance Fund of Sen.

Loren Legarda which was deposited to General Fund account and be withdraw/transfer the

amount to Trust Fund account, and under Trust Fund account are those accumulated

interest earned from Trust Fund current account and awaiting the cash transfer to General

Fund account.


Other Liability Accounts totaling P 110,012,327.00. This amount pertains to subsidy

from other funds (Health Sector Development Program-Start up funds), Early Childhood Care

Development Program (ECCD) Local and National Counterpart, Provincial Project

Management Office (PPMO), Euro Support Grant and Department of Health counterpart and

Guaranty Deposit Payable which represent 10% retainer’s fee of contractors amounting

P4,467,342.11 and Performance/Bidders/Bail Bonds Payable in the amount of

P5,385,702.28, this is a liability arising from the receipt of cash bond to guarantee the

performance of a contract.

LONG- TERM LIABILITIES P 701,753,458.89

Long-Term Liability – Loans Payable, Domestic comprises the following:

2011 2010

Masaganang Ani Program Loan P 0.00 P 85,507.07

Development Bank of the Phil. - Hotel and Convention Center

440,813,524.70

440,813,524.70

MDFO Loan Tobacco Excise Tax (RA 7171)

54,248,220.64 200,405,920.00

44,020,622.70 240,487,104.00

Total P695,467,665.34 P725,406,758.47

The amount of P440,813,524.70 represents the loan from Development Bank of the

Philippines (DBP) for the Construction of Hotel and Convention Center and for the purchase

of furniture and fixtures and other facilities for said Hotel and Convention Center located at

Barangay Calayab, Laoag City.

Under MDFO Loans are loans granted by Asian Development Bank (ADB) amounting

P54,248,220.64 in favor of the Province for the construction/renovation of Governor Roque

Ablan Sr. Memorial Hospital, Bangui District Hospital and Dingras District Hospital. Another

loan from the Land Bank of the Philippines (LBP) amounting P200,405,920.00. This

represents the loan/monetization of RA 7171, the unreleased 15% excise tax covering the

period 2002 to 2009 from Virginia Tobacco Excise Tax but this covered by Notice of Payment

Schedule issued by Department of Budget and Management.

DEFERRED CREDITS P 6,285,793.55

This account is broken down as follows:

2011 2010

Deferred Real Tax Income P 0.00 P 154,187.58


Other Deferred Credits 6,285,793.55 14,304,408.65

Total P 6,285,793.55 P 14,458,596.23

Other deferred credits account under the Trust Fund amounting to

P6,285,793.55 represents Congressional Fund, Agricultural Fund from Department of

Agriculture, Cooperative Fund to be granted as loans to various farmer beneficiaries of the

Province and the Self Employment Assistance Program (SEAP) for capital assistance.

EQUITY P 1,255,632,924.21

The Government Equity Account amounting to P1,255,632,924.21 represents the

difference between the assets and liabilities of the Province.

Retained Operating Surplus under the General Fund is P85,243,464.48 and Special

Education Fund is P758,904.41 and available for appropriations for the following year.

There were public infrastructures transferred to the Registry of Public Infrastructures

during the year amounting to P5,354,486.09.

The Government Equity is itemized as follows:

2011 2010

Government Equity, Beg. P 1,051,629,268.21 P 794,096,116.07

Add/Deduct:

Retained Operating Surplus

Current Operations 190,519,530.90 215,826,885.96

Gain on sale of assets 1,555,481.00

Prior Year's Adjustments 11,146,571.44 48,604,770.62

Subsidy from DOH(MDFO) 6,136,558.75

Transfers to Registry (5,354,486.09) (6,898,504.44)

Government Equity, End P1,255,632,924.21 P1,051,629,268.21

INCOME ACCOUNTS P 989,505,211.00

The income accounts composed of:

2011 2010

Local Taxes P 46,295583.10 P 39,607,433.63

Permits and Licenses 3,954,599.55 3,089,368.40


Service Income 21,167,577.30 6,683,474.24

Business Income 26,821,721.55 20,862,150.81

Other Income Gain on Sale of Assets

7,957,137.16 1,555,481.00

3,535,839.24 118,400.00

Internal Revenue Allotment 665,294,854.00 615,333,076.00

Share from PAGCOR/PCSO 5,393,100.59 521,725.17

Share from Tobacco Excise Tax 204,928,598.00 322,737,494.00

Subsidy from DOH 6,136,558.75 8,262,131.42

Total P 989,505,211.00 P 1,020,751,092.91

The decrease in total income by P 31,245,881.91 was brought about by the decrease

in the rentals of properties, subsidies and share from tobacco excise tax received during the

year.

EXPENDITURE ACCOUNTS P 794,129,811.20

The Expenditure accounts consist of:

2011 2010

Personnel Services P 268,084,126.84 P 253,219,899.05

Maintenance and Other Operating Expenses 523,102,620.37 550,316,940.87

Financial Expenses ___106,893.14 ___1,387,367.03

Total P 791,293,640.35 P 804,924,206.95

The decrease in expenditures by P 13,630,566.60 was mainly attributed to the

decreased in other maintenance and operating expenses account 969 and electricity

expense (767) during the year.

The consolidated condensed post closing balance sheet of CY 2011 and the comparison to CY

2010 are shown as follows:

CONSOLIDATED DETAILED POST CLOSING BALANCE SHEET

As of year ended December 31, 2011

TOTAL GENERAL FUND SEF TRUST FUND

ASSETS

CURRENT ASSETS

Cash 613,973,237.73 534,675,182.34 4,892,155.98 74,405,899.41


Receivables 263,545,246.67 253,701,942.89 3,535,157.22 6,308,146.56

Inventories 5,126,890.67 5,126,890.67 - -

Prepayments 3,227,475.23 2,161,018.50 - 1,066,456.73

Other Current Assets 100,000.00 100,000.00 - -

Total Current Assets 885,972,850.30 795,765,034.40 8,427,313.20 81,780,502.70

INVESTMENTS & PROPERTY PLANT & EQUIPMENT

Land and Land Improvements 125,663,835.26 125,663,835.26 - -

Buildings 717,265,537.18 713,497,873.06 3,767,664.12 -

Office Equip’t., Furniture & Fixtures 101,060,658.16 97,969,875.66 3,090,782.50 -

Machineries and Equipment 196,931,702.33 196,396,102.16 535,600.17 -

Transportation Equipment 86,479,514.60 85,776,642.10 702,872.50 -

Other Property, Plant & Equipment 26,385,503.25 26,113,897.25 271,606.00 -

Construction in Progress 63,071,900.74 63,071,900.74 -

Total Property, Plant & Equipment 1,316,858,651.52 1,308,490,126.23 8,368,525.29 -

OTHER ASSETS

Other Assets 5,829,376.08 5,829,376.08 - -

Total Other Assets 5,829,376.08 5,829,376.08 - -

TOTAL ASSETS 2,208,660,877.90 2,110,084,536.71 16,795,838.49 81,780,502.70

LIABILITIES AND EQUITY

LIABILITIES

Current Liabilities

Payable Accounts 93,095,739.04 88,921,653.89 4,124,286.72 49,798.43

Inter-Agency Payable 49,897,974.50 10,137,366.01 8,964.85 19,751,643.64

Intra-Agency Payable 1,104,625.11 1,000,000.00 - 104,625.11

Other Liability Account 110,012,327.00 74,423,685.03 - 35,588,641.97

Long Term Liabilities 701,753,458.89 695,467,665.34 - 6,285,793.55

Total Liabilities 955,864,124.54 869,950,370.27 4,133,251.57 81,780,502.70

EQUITY

Government Equity 1,252,796,753.36 1,240,134,166.44 12,662,586.92 -

Total Equity 1,252,796,753.36 1,240,134,166.44 12,662,586.92 -

TOTAL LIABILITIES & EQUITY 2,208,660,877.90 2,110,084,536.71 16,795,838.49 81,780,502.70

BALANCE SHEET CY2011 vs. CY2010

2011 2010

Increase/(Decrease)

Amount %

CURRENT ASSETS

Cash 613,973,237.73 436,987,555.08 176,985,682.65 40.50%

Receivables 263,545,246.67 282,217,608.17 (18,672,361.50) 6.62%


Inventories 5,126,890.67 4,682,819.62 444,071.05 9.48%

Prepayments 3,227,475.23 1,336,743.98 1,890,731.25 141.44%

Other Current Assets 100,000.00 100,000.00 - -

Total Current Assets 885,972,850.30 725,324,726.85 160,648,123.45 22.15%

INVESTMENTS & PROPERTY PLANT & EQUIPMENT

Land and Land Improvements 125,663,835.26 121,629,279.26 4,034,556.00 3.32%

Buildings 717,265,537.18 606,631,380.56 110,634,156.62 18.24%

Office Equipment, Furniture & Fixtures 101,060,658.16 96,389,545.97 4,671,112.19 4.85%

Machineries and Equipment 196,931,702.33 193,743,974.70 3,187,727.63 1.65%

Transportation Equipment 86,479,514.60 69,915,945.58 16,563,569.02 23.69%

Other Property, Plant & Equipment 26,385,503.25 22,974,458.35 3,411,044.90 14.85%

Construction in Progress 63,071,900.74 103,122,206.83 (40,050,306.09) (38.84%)

Total Property, Plant & Equipment 1,316,858,651.52 1,214,406,791.25 102,451,860.27 8.44%

OTHER ASSETS

Other Assets 5,829,376.08 5,829,376.08 - -

Total Other Assets 5,829,376.08 5,829,376.08 - -

TOTAL ASSETS 2,208,660,877.90 1,945,560,894.18 263,099,983.72 13.52%

INCOME

The Provincial Government of Ilocos Norte’s revenues for CY2011 lies mostly on the

performance of the Office of the Provincial Treasurer as the main revenue collection arm of

the province. This is determined by the collection estimates as set in the Annual Budget and

by the target assigned by the Department of Finance, Bureau of Local Government Finance.

The collection target given by the DOF, BLGF includes that of the different municipalities of

the province and is broken down into four categories, namely: Real Property Tax, Tax on

Business, Fees and Charges (Non-Tax-Revenue) and Economic Enterprise. However, to

achieve the targets as set and given, administrative and operational goals have been set as

presented in the Work Plans and Programs and is categorically divided as Revenue

Generation and Resource Mobilization Program, Financial Accountability and Discipline, LGU

Capability Building, Internal Administration and Special Projects.

The following are the performance on the various provincial impositions under each

category, to wit:

PPAs CY 2011 CY 2010 % Increase/ (Decrease)

LGU REVENUE GENERATION & RESOURCE MOBILIZATION PROGRAM

Revenue Target Setting Allocated collection target to the different municipalities


Real Property Tax Business Tax Fees and Charges Economic Enterprise

102,350,000.00 61,700,000.00 52,000,000.00 62,100,000.00

81,500,000.00 48,600,000.00 47,900,000.00 70,100,000.00

20% 27% 9%

(13%)

Revenue Collection Monitored collection efficiency from: Real Property Tax Business Tax Non-Tax Revenues Economic Enterprise

102,619,592.45 64,465,178.16 83,308,738.72 68,347,787.88

92,265,312.17 57,687,920.47 52,321,898.80 59,721,700.31

13% 11% 59% 14%

Review of Municipal Tax Ordinances Assisted the Sangguniang Panlalawigan in the review and updating of tax ordinances

9 LGUs 9 LGUs

Formulated Collection Strategies Created and deployed collection teams within the province Monitored/analyzed and evaluated performance of local

impositions Maintained and updated data bank of delinquencies Followed up COA Annual Audit reports deficiencies/adverse

findings of municipal treasury offices and evaluate courses of action taken if sufficient

3 teams

4 reports/qtr.

1

100% of COA AAR

3 teams

4 reports/qtr.

1

100% of COA AAR

FINANCIAL ACCOUNTABILITY AND DISCIPLINE Revenue Audit

Conducted and submitted report on: Revenue Audit and Evaluation Created Revenue Audit & Evaluation Teams Monitored prompt remittances of national collections and other statutory obligations Prepared and/or submitted reports Quarterly RPTC Quarterly eSRE with Annexes Masterlist of Retired Businesses Ensured bonding of accountable officers & employees

5 2 teams

100% of

collections

2 8 1

100% bonded officers/empls.

5 2 teams

100% of

collections

2 8 1

100% bonded officers/empls.

LGU CAPABILITY BUILDING

Manpower Development Attended trainings/conferences sponsored by PHALTRA, BLGF

and other agencies Attended Inter-Agency Meetings

Local Finance Committee Bids and Awards Committee

100% of invitations

100% 100%

100% of invitations

100% 100%

INTERNAL ADMINISTRATION Prepared and submitted the following:

Unit Performance Evaluation Work Plans and Programs Updated Personal Data Sheet Latest Statement of Assets and Liabilities

Consolidated reports of LGUs on: Approved Unit Performance Evaluation

Conducted the following activities: Staff meeting Meeting with the Municipal Treasurers

2 1 1

All

All

6 regular 2 emergency

12 regular

2 1 1

All

All

6 regular 2 emergency

12 regular


Performance evaluation of PTO employees Inventory of office equipment

Reviewed and approved the following: UPEs of all municipalities

Indorsed requests for the issuance of designation and extension orders of recommended OICs/Cos/Acting and appointments

2 emergency 1 1

22

3 OIC MT

2 emergency 1 1

22

1 ICO MT

IMPLEMENTATION OF SPECIAL PROJECTS Maintain RPTA Records of LGUs that have undergone Tax Mapping Projects

100% of LGUs 100% of LGUs

The details of the provincial income as reflected in the consolidated post-closing

detailed statement of income for the period ended 31 December 2011 as provided by the

Provincial Accounting Office is shown below:

CONSOLIDATED DETAILED STATEMENT OF INCOME General Fund, Special Education Fund

For the period ended December 31, 2011

TOTAL GENERAL FUND SEF

INCOME:

National Taxes

Professional Tax 141,775.64 141,775.64

Total National Taxes 141,775.64 141,775.64

Local Taxes

Amusement Tax 1,774,945.40 1,579,695.90

Franchise Tax 1,077,945.40 1,077,945.40

Occupation Tax 29,078.60 29,078.60

Property Transfer Tax 580,160.60 580,160.60

Real Property Tax 15,229,081.14 15,229,081.14

Tax on Delivery Trucks and Vans 1,285,000.00 1,285,000.00

Tax on Sand, Gravel & Other Quarry Products

4,277,080.50 4,277,080.50

Fines and Penalties - Local Taxes 281,979.81 281,979.81

Special Education Tax 21,618,800.62 - 21,618,800.62

Total Local Taxes 46,153,807.46 24,535,006.84 21,618,800.62

Permits and Licenses

Permit Fees 3,747,429.44 3,747,429.44

Registration Fees 68,400.00 68,400.00

Other Permit and Licenses 49,982.01 49,982.01

Fines and Penalties - Permit & Licenses 88,788.10 88,788.10

Total Permits and Licenses 3,954,599.55 3,954,599.55

Service Income


Clearance/Certification Fees 859,350.50 859,350.50

Inspection Fees 1,452,833.73 1,452,833.73

Library Fees 9,394.00 9,394.00

Medical, Dental and Laboratory Fees 18,711,744.07 18,711,744.07

Processing Fees 131,175.00 131,175.00

Other Service income 3,080.00 3,080.00

Total Service Income 21,167,577.30 21,167,577.30

Business Income

Hospital Fees 19,151,914.40 19,151,914.40

Rent Income 2,532,254.35 2,532,254.35

Other Business Income 5,069,387.25 5,069,387.25

Fines and Penalties – Other Business income

68,165.55 68,165.55

Total Business Income 26,821,721.55 26,821,721.55

Subsidy Income

Other Income

Insurance Income - -

Interest Income 6,937,159.34 6,917,332.47 19,826.87

Internal Revenue Allotment 665,294,854.00 665,294,854.00

Share from National Wealth 45,334.00 45,334.00

Share from PAGCOR/PCSO 5,393,100.59 5,393,100.59

Share from Tobacco Excise Tax 204,928,598.00 204,928,598.00

Share from Tobacco Excise Tax – Monetized RA 7171

- -

Miscellaneous Income 973,643.82 973,643.82

Other Fines and Penalties 1,000.00 1,000.00

Total Other Income 883,573,689.75 883,553,862.88 19,826.87

TOTAL INCOME 981,813,171.25 960,174,543.76 21,638,627.49

COMPARATIVE STATEMENT OF INCOME CY 2011 AND CY2010

CY 2011 CY 2010

INCREASE / (DECREASE)

INCOME:

National Taxes

Professional Tax 141,775.64 - 141,775.64

Total National Taxes 141,775.64 - 141,775.64

Local Taxes

Amusement Tax 1,774,945.40 1,579,695.90 195,249.50

Franchise Tax 1,077,945.40 25,059.36 1,052,886.04

Occupation Tax 29,078.60 142,897.00 (113,818.40)

Property Transfer Tax 580,160.60 599,921.96 (19,761.36)


Real Property Tax 15,229,081.14 13,376,919.68 1,852,161.46

Tax on Delivery Trucks and Vans 1,285,000.00 1,273,900.00 11,100.00

Tax on Sand, Gravel & Other Quarry Products

4,277,080.50 4,468,882.30 (191,801.80)

Fines and Penalties - Local Taxes 281,979.81 324,190.29 (42,210.48)

Special Education Tax 21,618,800.62 17,815,967.14 3,802,833.48

Total Local Taxes 46,153,807.46 39,607,433.63 6,546,373.83

Permits and Licenses

Permit Fees 3,747,429.44 2,834,399.13 913,030.31

Registration Fees 68,400.00 120,150.00 (51,750.00)

Other Permit and Licenses 49,982.01 39,141.14 10,840.87

Fines and Penalties - Permit & Licenses 88,788.10 95,678.13 (6,890.03)

Total Permits and Licenses 3,954,599.55 3,089,368.40 865,231.15

Service Income

Clearance/Certification Fees 859,350.50 846,342.90 13,007.60

Inspection Fees 1,452,833.73 1,316,239.15 136,594.58

Library Fees 9,394.00 185.00 9,209.00

Medical, Dental and Laboratory Fees 18,711,744.07 4,402,262.19 14,309,481.88

Processing Fees 131,175.00 117,755.00 13,420.00

Other Service income 3,080.00 690.00 2,390.00

Total Service Income 21,167,577.30 6,683,474.24 14,484,103.06

Business Income

Hospital Fees 19,151,914.40 15,594,104.84 3,557,809.56

Rent Income 2,532,254.35 3,618,747.25 (1,086,492.90)

Other Business Income 5,069,387.25 1,568,034.86 3,501,352.39

Fines and Penalties – Other Business income

68,165.55 81,263.86 (13,098.31)

Total Business Income 26,821,721.55 20,862,150.81 5,959,570.74

Subsidy Income

Other Income

Insurance Income - 17,000.00 (17,000.00)

Interest Income 6,937,159.34 2,859,539.08 4,077,620.26

Internal Revenue Allotment 665,294,854.00 615,333,076.00 49,961,778.00

Share from National Wealth 45,334.00 - 45,334.00

Share from PAGCOR/PCSO 5,393,100.59 521,725.17 4,871,375.42

Share from Tobacco Excise Tax 204,928,598.00 82,250,390.00 122,678,208

Share from Tobacco Excise Tax – Monetized RA 7171

- 240,487,104.00 (240,487,104.00)

Miscellaneous Income 973,643.82 654,260.16 319,383.66

Other Fines and Penalties 1,000.00 5,040.00 (4,040.00)

Total Other Income 883,573,689.75 942,128,134.41 (58,554,444.66)

TOTAL INCOME 981,813,171.25 1,012,370,561.49 (30,557,390.24)


EXPENDITURES The PGIN expended a total of P794,129,811.20 for CY 2011, a slight decrease of

P10,794,395.75 as compared to the previous year’s expenditures of P804,924,206.95.

Maintenance and Other Operating Expenses accounted for the biggest slice of the

expenditures at 66.23% while 33.76% was spent for Personal Services and 0.01% on Financial

Expenses. It should be noted however that the MOOE for the year sustained a reasonable

decrease as that of last year (P24,925,270.60) mostly due to the sizeable decline in Subsidies

& Donations and Losses incurred.

The increase in Personal Services is attributed to the granting of second tranche of

the Salary Standardization Law III (SSL3) program wherein increase in salary among

government employees will be subdivided into four yearly tranches starting January 1, 2010.

This is however mitigated by the move of the Governor of streamlining the provincial

bureaucracy.

The detail of the provincial government’s spending for CY 2011 and the comparison

to expenditures for CY 2010 are shown in the following tables:

CONSOLIDATED DETAILED STATEMENT OF EXPENSES General Fund, Special Education Fund

For the period ended December 31, 2011


EXPENSES:

Personal Services

Salaries and Wages-Regular 150,492,483.98 150,492,483.98 -

Salaries and Wages-Casual 25,952,595.14 25,952,595.14 -

Personnel Economic Relief Allowance 17,873,516.19 17,873,516.19 -

Representation Allowance (RA) 2,519,100.00 2,519,100.00 -

Transportation Allowance (TA) 1,754,200.00 1,754,200.00 -

Clothing/Uniform Allowance 2,964,000.00 2,964,000.00 -

Productivity Incentive Benefits - - -

Cash Gift 3,697,500.00 3,697,500.00 -

Year End Bonus 12,451,502.50 12,451,502.50 -

Life and Retirement Insurance Contributions 17,879,770.73 17,879,770.73 -

PAG-IBIG Contributions 896,817.72 896,817.72 -

PHILHEALTH Contributions 1,717,787.50 1,717,787.50 -

ECC Contributions 864,350.67 864,350.67 -

Terminal Leave Benefits 5,507,257.57 5,507,257.57 -


Health Workers Benefits 3,721,085.44 3,721,085.44 -

Other Personnel Benefits 19,792,159.40 19,792,159.40 -

Total Personnel Services 268,084,126.84 268,084,126.84 -

Maintenance & Other Operating Expenses

Travelling Expense-Local 6,310,952.53 4,085,046.03 2,225,906.50

Travelling Expense-Foreign 681,622.60 681,622.60

Training Expense 943,510.00 703,910.00 239,600.00

Office Supplies Expense 29,635,612.94 27,145,676.44 2,489,936.50

Accountable Forms Expense 318,625.00 316,875.00 1,750.00

Animal/Zoological Supplies Expense - - -

Food Supplies Expense 7,242,699.35 7,242,699.35 -

Drugs & Medicines Expense 13,843,587.19 13,704,077.99 13,509.20

Medical, Dental & Laboratory Supplies Expense

11,640,095.82 11,340,095.82 300,000.00

Gasoline, Oil, Lubricants Expense 9,237,634.51 9,237,634.51 -

Textbooks & Instructional Materials Expense 4,699,817.00 - 4,699,817.00

Other Supplies Expense 1,457,373.05 477,808.05 979,565.00

Water Expense 1,833,987.65 1,833,987.65 -

Electricity Expense 21,384,957.53 17,755,306.67 3,629,650.86

Cooking Gas Expense 565,404.95 565,404.95 -

Postage and Deliveries 116,425.80 116,425.80 -

Telephone Expense-Landline 1,806,662.81 1,806,662.81 -

Telephone Expense-Mobile 1,587,786.59 1,587,786.59 -

Internet Expense 738,413.67 738,413.67 -

Cable, Satellite, Telegraph & Radio Equipment

600.00 600.00 -

Membership Dues & Contributions to Organizations

361,600.00 361,600.00 -

Advertising Expense 506,661.60 506,661.60 -

Printing and binding Expense 10,312.50 10,312.50

Subscriptions Expense 65,375.00 65,375.00 -

Consultancy Expense 402,500.00 402,500.00 -

Security Services 779,700.00 779,700.00 -

Repairs and Maintenance – Office Buildings 4,264,280.82 3,264,280.82 1,000,000.00

Repairs and Maintenance – School Buildings 4,723,600.91 - 4,723,600.91

Repairs and Maintenance – Hospitals & Health Centers

113,885.25 113,885.25 -

Repairs and Maintenance – Other Structures 17,904.00 17,904.00 -

Repairs and Maintenance – Office Equipment 697,925.28 697,925.28 -

Repairs and Maintenance – IT Equipment & Software

132,009.00 132,009.00 -

Repairs and Maintenance – Construction and Heavy Equipment

828,541.25 828,541.25 -


Repairs and Maintenance –Medical, Dental, Laboratory Equipment

308,000.00 308,000.00 -

Repairs and Maintenance – Technical and Scientific Equipment

- - -

Repairs and Maintenance – Other Machineries and Equipment

25,140.00 25,140.00 -

Repairs and Maintenance – Motor Vehicles 2,178,250.20 2,178,250.20 -

Repairs and Maintenance –Roads, Highways & Bridges

1,294,661.52 1,294,661.52

Repairs and Maintenance – Parks, Plazas, Monuments

- - -

Repairs and Maintenance – Other Public Infra - - -

Subsidy to National Government Agencies 2,531,354.68 2,531,354.68

Subsidy to LGU’s 1,518,000.00 1,518,000.00 -

Donations 3,120,950.00 3,120,950.00 -

Extraordinary Expense 269,472.63 269,472.63 -

Taxes, Duties and Licenses 455,644.31 455,644.31

Fidelity Bond Premiums 511,299.78 511,299.78 -

Insurance Expense 2,493,807.23 2,413,859.63 79,947.60

Depreciation – Office Buildings 144,361.83 144,361.83 -

Depreciation – Hospitals & Health Centers 270,620.96 270,620.96 -

Depreciation – Other Structures 12,635,159.27 12,635,159.27 -

Depreciation – Office Equipment 3,878,378.77 3,619,202.69 259,176.08

Depreciation – Furniture and Fixtures 4,506,401.50 4,506,401.50

Depreciation – IT Equipment and Software 1,268,802.84 1,240,764.24 28,038.60

Depreciation – Library 26,616.34 26,616.34 -

Depreciation – Machinery 395,565.61 395,565.61 -

Depreciation – Agricultural, Fishery, Forestry Equipment

117,353.41 -

Depreciation – Communication Equipment 227,987.29 -

Depreciation – Firefighting Equipment and Accessories

194,097.55 -

Depreciation – Hospital Equipment 5,713,658.27 -

Depreciation – Medical, Dental and Laboratory Equipment

2,094,043.93 -

Depreciation – Military and Police Equipment 32,752.20 -

Depreciation – Sports Equipment 238,078.09 -

Depreciation – Technical and Scientific Equipment

22,252.82 -

Depreciation – Other Machineries and Equipment

1,614,488.20 1,610,348.20 4,140.00

Depreciation – Motor Vehicles 875,892.98 800,472.98 75,420.00

Depreciation – Other Transportation Equipment

498.00 498.00 -


Depreciation – Other Property, Plant and Equipment

1,785,098.37 1,666,248.87 118,849.50

Loss of Assets 1,848,367.77 1,848,367.77

Other Maintenance & Operating Expenses 108,145,391.54 108,110,864.54 34,527.00

Other Maintenance & Operating Expenses – 20% Development Fund

76,100,523.65 76,100,523.65 -

Other Maintenance & Operating Expenses – Calamity Fund

33,505,617.04 33,505,617.04 -

Other Maintenance & Operating Expenses – RA 7171

102,017,019.77 102,017,019.77 -

Other Maintenance & Operating Expenses – Special Office

26,623,118.27 26,623,118.27 -

Other Maintenance & Operating Expenses – Special Consultancy Services

- - -

Total MOOE 525,938,791.22 501,788,406.47 24,150,384.75

Financial Expenses

Bank Charges 106,893.14 106,893.14 -

Total Financial Expenses 106,893.14 106,893.14 -

TOTAL EXPENSES 794,129,811.20 769,979,426.45 24,150,384.75

COMPARATIVE STATEMENT OF EXPENDITURES CY 2011 AND CY2010

EXPENSE ACCOUNT CY 2011 CY 2010 INCREASE / (DECREASE)

PERSONAL SERVICES

Salaries and Wages 176,445,079.12 162,097,339.40 14,347,739.72

Other Compensation 41,259,818.69 22,405,530.21 18,854,288.48

Personnel Benefits Contributions 21,358,726.62 50,654,129.38 (29,295,402.76)

Other Personnel Benefits 29,020,502.41 18,062,900.06 10,957,602.35

TOTAL PERSONAL SERVICES 268,084,126.84 253,219,899.05 14,864,227.79

MAINTENANCE AND OTHER OPERATING EXPENSES

Travelling Expenses 6,992,575.13 4,502,851.11 2,489,724.02

Training and Seminar Expenses 943,510.00 1,190,303.00 (246,793)

Supplies and Materials Expenses 78,075,444.86 79,005,162.38 (929,717.520

Utility Expenses 23,784,350.13 16,069,365.17 7,714,984.96

Communication Expenses 5,193,837.97 3,713,590.16 1,480,247.81

Professional Services 1,182,200.00 870,133.75 312,066.25

Repairs & Maintenance - Buildings 9,119,670.98 914,773.30 8,204,897.68

Repairs & Maintenance - Office Equipment & Fixtures

829,934.28 1,022,773.19 (192,838.91)


Repairs & Maintenance – Machineries & Equipment

1,161,681.25 1,939,100.11 (777,418.86)

Repairs & Maintenance – Transportation Equipment

2,178,250.20 6,320,217.29 (4,141,967.09)

Repairs & Maintenance – Other Public Infra 1,294,661.52 1,529,773.43 (235,111.91)

Subsidies and Donations 7,170,304.68 15,367,581.83 (8,197,277.15)

Extraordinary Expenses 269,472.63 243,863.06 25,609.57

Insurance Expenses 3,460,751.32 2,484253.09 976,498.23

Depreciation

Buildings 13,050,142.06 9,940,979.40 3,109,162.66

Office Equipment, Furniture & Fixtures 9,680,199.45 7,111,547.17 2,568,652.28

Machineries and Equipment 10,650,277.37 10,831,361.77 (181,084.40)

Transportation Equipment 876,390.98 608,705.48 267,685.50

Other Property, Plant and Equipment 1,785,098.37 1,891,376.39 (106,278.02)

Losses 1,848,367.77 29,522,584.60 (27,674,216.83)

Other Maintenance & Operating Expenses 346,391,670.27 355,236,645.19 (8,844,974.92)

TOTAL MOOE 525,391,670.27 550,316,940.87 (24,925,270.6 )

FINANCIAL EXPENSES

Bank Charges 106,893.14 1,387,367.03 (1,280,473.89)

TOTAL FINANCIAL EXPENSE 106,893.14 1,387,367.03 (1,280,473.89)

TOTAL EXPENSES 794,129,811.20 804,924,206.95 (10,794,395.75)


Total Income 971,813,171.25 960,174,543.76 21,638,627.49

Less: Total Expenses 794,129,811.20 769,979,426.45 24,150,384.75

Total Income 187,683,360.05 190,195,117.31 (2,511,757.26)

Add: Subsidies from DOH 6,136,558.75 6,136,558.75 -

Total 193,819,918.80 196,331,676.06 (2,511,757.26)

Add: Gain on Sale of Disposed Assets 1,555,481.00 1,555,481.00 -

NET INCOME, as of December 31, 2011 195,375,399.80 197,887,157.06 (2,511,757.26)

As shown in the Comparative Statements of Income and Expenses below, the

provincial government posted a decrease in income as compared to last year

(P30,557,390.24). It should be noted however that revenues from local sources increased

during the year (P27,997,054.42) and that the decrease in revenues is in most part due to

the monetization of RA7171 proceeds of last year.


0 100 200 300 400 500 600 700 800 900 1,000 1,100

20102011

Expenditures, 2010

Expenditures, 2011

Revenues, 2010

Revenues, 2011

MILLION

The provincial government also posted a decrease in overall spending to a total of

P10,912,795.75 from CY2010, over-all we still managed to generate a modest net income of

P195,375,399.80 for CY 2011.

Figure 1 shows a comparison of the revenues and expenditures for CY 2011 and 2010

P 1,020,632,692.91

P 805,042,606.95

P 794,129,811.20

P 989,505,211.00

Documents

budget performance 2011