BICOL UNIVERSITY

Consolidated Balance Sheet

As of December 31, 2013
(With Comparative Figures for CY 2012)

ASSETS 2013 2012

CURRENT ASSETS
Cash (Note 4) ₱ 316,545,808.46 ₱ 282,518,465.16
Receivables (Note 5) 64,922,032.97 106,801,826.44
Inventories (Note 6) 98,976,511.30 87,570,109.42
Prepayments (Note 7) 6,302,157.66 5,577,104.89
TOTAL CURRENT ASSETS ₱ 486,746,510.39 ₱ 482,467,505.91
INVESTMENTS (Note 8) 10,500,000.00 10,500,000.00
PROPERTY, PLANT AND EQUIPMENT, net (Note 9) 974,951,231.18 941,975,715.76
OTHER ASSETS 994,473.49 994,473.49
TOTAL ASSETS ₱ 1,473,192,215.06 ₱ 1,435,937,695.16

LIABILITIES
CURRENT LIABILITIES (Note 10)
Payable Accounts ₱ 157,129,837.18 ₱ 182,342,920.80
Deferred Credits 4,697,839.35 4,697,839.35
TOTAL LIABILITIES ₱ 161,827,676.53 ₱ 187,040,760.15
EQUITY 1,311,364,538.53 1,248,896,935.01
TOTAL LIABILITIES AND EQUITY ₱ 1,473,192,215.06 ₱ 1,435,937,695.16

(See accompanying Notes to Financial Statements)

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 BICOL UNIVERSITY
Consolidated Statement of Income and Expenses
For the Year Ended December 31, 2013
(With Comparative Figures for CY 2012)

2013 2012

INCOME (Note 11) ₱ 851,588,098.99 ₱ 756,040,441.70

EXPENSES
Personal Services ₱ 532,722,153.04 ₱ 517,100,368.29
Maintenance and Other Operating Expenses 251,617,725.69 201,615,656.84
TOTAL OPERATING EXPENSES (Note 12) ₱ 784,339,878.73 ₱ 718,716,025.13

NET INCOME ₱ 67,248,220.26 ₱ 37,324,416.57

(See accompanying Notes to Financial Statements)

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 BICOL UNIVERSITY
Statement of Government Equity
For the Year Ended December 31, 2013
(With Comparative Figures for CY 2012)

2013 2012

Beginning Balance ₱ 1,248,896,935.01 ₱ 1,222,912,676.34

Add (Deduct) -
Net Income or Loss ₱ 67,248,220.26 ₱ 37,324,416.57
Prior Year's Adjustment (4,780,616.74) (10,530,482.90)
Extraordinary Loss (809,675.00)

Ending Balance ₱ 1,311,364,538.53 ₱ 1,248,896,935.01

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 BICOL UNIVERSITY
Consolidated Detailed Statement of Cash Flows
December 31, 2013
(With Comparative Figures for CY 2012)

2013 2012
Cash Flows from Operating Activities:

Cash Inflows:
Adjustment of cash accounts ₱ 7,323,476.22 ₱ 3,433,741.03
Adjustment of income accounts 150.00 0.00
Adjustment of expense accounts 23,549.53 677,412.88
Adjustment of SL balances of asset/payable accounts 2,694,089.06 3,234,427.13
Cancellation of lost/stale checks issued during the year 0.00 4,240.00
Collection of audit disallowances 20,000.00 28,347.65
Collection of Business Income 189,608,095.18 168,051,379.51
Collection of Inter-Agency Receivables 315,000.00 13,500,000.00
Collection of Other Income 1,059,011.50 844,443.24
Collection of Other Receivables 63,055.00 190,478.13
Collection of Overpayment of Personal Services deducted -
unbilled 17,744.44 134,295.18
Collection of Overpayment of Personal Services - billed 0.00 3,229.35
Collection of Overpayment of Utility and Other Expenses -
unbilled 159,451.34 112,984.42
Collection of Overpayment of Utility and Other Expenses
for Prior years-unbilled 20,785.00 0.00
Collection of Permits and Licenses 57,000.00 104,100.00
Collection of Receivables 1,028,940.09 411,585.94
Collection of service income 76,797,968.08 71,811,852.14
Collections of Other Income and Receipts 42,849.50 635,000.00
Receipt for payment of lost properties when request for relief
was denied 0.00 1,014.93
Receipt of Funds as Trust Liabilities 114,126,010.79 198,888,459.15
Receipt of Funds for implementation of projects 4,426,755.00 6,518,245.98
Receipt of Notice of Cash Allocation (NCA) 661,450,969.00 515,998,323.00
Receipts of performance/bidder's bond 1,104,041.55 1,067,075.68
Refund of cash advance by officers and employees 1,751,120.89 1,809,135.06
Receipt of unclaimed salary from Disbursing Officer 768,067.30 0.00
Total Cash Inflow ₱ 1,062,858,129.47 ₱ 987,459,770.40
Cash Outflows:
Payment of First/Progress/Final Billing of contractor for
construction of Agency Assets ₱ 45,795,104.14 ₱ 13,794,785.29
Payment of Inter-Agency Payable 59,758,365.74 19,829,685.79

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 2013 2012
Adjustment of cash accounts ₱ 4,054,182.02 ₱ 11,391,782.87
Deposit of Collections of Other Income and Receipts 21,103,119.80 82,592,711.27
Payment for Repairs and Maintenance of Transportation Equipt. 537,501.93 421,656.81
Payment for Repairs and Maintenance of Machineries & Equipt. 25,541.97 0.00
Payment of Accounts Payable 13,760,703.21 11,490,913.97
Payment for Taxes, Premiums and Other Fees 3,260,905.42 3,350,652.78
Payment for Repairs and Maintenance of Land Improvements 0.00 180,401.23
Remittance of Mandatory Deductions-employer/employees' share 111,321,902.30 106,630,046.66
Payment for Repairs & Maintenance of Other Property & Equipt 131,535.90 18,388.40
Payment for procurement made to the Procurement Service 346,385.95 108,135.60
Grant of Cash Advance 82,511,075.03 11,502,131.79
Payment/Reimbursement or Travelling Expense 10,866,030.57 8,283,348.07
Purchase of Property, Plant and Equipment 4,935.63 63,090.01
Adjustment of income accounts 2,414,962.71 0.00
Adjustment of Expense accounts 40,138.00 12,650.52
Refund of performance bond to contractor 747,823.35 1,087,038.63
Payment of Prepayments 4,732.15 0.00
Payment for Fabrication, Construction and Development of PPE 419,808.19 0.00
Payment for Utility Expenses 18,758,398.11 22,074,588.50
Payment of mobilization fee to contractors 16,432,160.91 3,474,457.42
Payment for Purchase of Supplies & Materials Directly Issued
to End-User 22,689,921.42 25,057,276.49
Refund of Guaranty Deposit/Retention Fee 1,837,775.59 3,786,230.88
Payment for Training/scholarship expenses Expenses 8,311,100.63 12,180,057.56
Deposit of Collections from overpayment/refund of expenses 1,111,643.28 935,862.17
Replacement of lost/stale check for various expenses 0.00 4,240.00
Payment/Reimbursement for Miscellaneous.Extraordinary/
Confidential Expenses 132,611.75 182,416.18
Payment for Accounts Payable for Progress/Final Billing of
contractor 3,800.00 0.00
Replenishment of Expenses from Petty Cash Fund 1,937,635.62 1,941,507.68
Payment of salaries and wages thru banks 30,100,201.09 3,130,736.74
Payment for Repairs and Maintenance of Office Equipment
& Furniture & Fixtures 216,802.97 202,379.75
Adjustment of SL balances of asset/payable accounts 9,971,993.08 724,357.96
Remittance of authorized deductions withheld on employees
and/or creditors 72,943,048.12 68,519,205.56
Liquidation of cash advances by the disbursing officer 267,533,960.69 294,945,624.00
To close the unutilized NCA 51,033,469.21 38,959,622.14
Payment of allowances, bonuses and other compensation 18,661,286.62 19,704,261.31
Payment for Purchase of Inventories, Supplies and Materials
for stock 13,834,278.06 2,642,470.48
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 2013 2012
Payment for Repairs and Maintenance Buildings ₱ 4,895,669.56 ₱ 1,179,918.37
Other manual transactions 171,792.55 0.00
Payment/reimbursement of various expenses 36,019,252.79 40,392,665.88
Payment of Other Liabilities 29,219,037.38 75,671,074.25
Payment of Communication Expenses 3,754,369.76 3,470,819.33
Payment for Professional Services 22,454,495.57 33,502,960.38
Payment of Other MOOE 6,525,072.35 5,298,712.98
Total Cash Outflows ₱ 995,654,531.12 ₱ 928,738,865.70
Net Cash from Operating Activities ₱ 67,203,598.35 ₱ 58,720,904.70

Cash Flows Provided by (Used in) Investing Activities:

Cash Inflows:
Adjustment of SL balances of asset/payable accounts ₱ 0.00 ₱ 0.00
Cash Outflows:
Purchase of Property, Plant and Equipment ₱ 33,176,255.05 ₱ 25,680,087.36
Total Cash Outflows ₱ 33,176,255.05 ₱ 25,680,087.36
Net Cash Provided by (Used in) Investing Activities ₱ (33,176,255.05) ₱ (25,680,087.36)

Cash Flows Provided by (Used in) Financing Activities

Cash Inflows: 0.00 0.00
Cash Outflows: 0.00 0.00
Net Cash Provided by (Used in) Financing Activitiies ₱ 0.00 ₱ 0.00
Net Increase in Cash 34,027,343.30 33,040,817.34
Cash at Beginning of the Period 282,518,465.16 249,477,647.82
Cash at the End of the Period ₱ 316,545,808.46 ₱ 282,518,465.16