Department of Education

Cordillera Administrative Region

Schools Division of Benguet
PROVIDENT FUND
PRE - CLOSING TRIAL BALANCE
June 30, 2019

Account Title Account Code Debit Credit

Cash - Collecting Officer 1010101000 - -

Cash in Bank - Local Currency, Current Account 1010202000 108,694.14 -
Loans Receivable - Others 1030199000 28,352,939.81 -
Allowance for Impairment - Loans Receivable - Others 1030199100 - 272,006.60
Information and Communication Technology Equipment 1060503000 223,661.20 -
Accumulated Depreciation - Information and Communication Technology Equipment 1060503100 - 136,215.82
Accumulated Impairment Losses - Agricultural and Forestry Equipment 1060504200 - -
Due to BIR 2020101000 - 2,790.13
Interest Income 4020221000 - 748,498.76
Office Supplies Expenses 5020301000 6,000.00 -
Semi-Expendable Machinery and Equipment Expenses 5020321000 9,350.00 -
Semi-Expendable Furniture, Fixtures and Books Expenses 5020322000 9,800.00 -
Other Professional Services 5021199000 68,777.27 -
Depreciation - Machinery and Equipment 5050105000 19,099.74 -
Total 28,805,152.46 28,805,152.46

Certified Correct :

FLORINDA C. PAGOY
Accountant III
 Department of Education
Cordillera Administrative Region
Schools Division of Benguet

Provident Fund
STATEMENT OF FINANCIAL PERFORMANCE
June 30, 2019

REVENUE
Tax Revenue
Interest Income 748,498.76

Maintenance and Other Operating Expenses

Office Supplies Expenses 6,000.00
Semi-Expendable Machinery and Equipment Expenses 9,350.00
Semi-Expendable Furniture, Fixtures and Books Expenses 9,800.00
Other Professional Services 68,777.27
Total Maintenance and Other Operating Expenses 93,927.27
Non-Cash Expenses
Depreciation - Machinery and Equipment 19,099.74

Total Non-Cash Expenses 19,099.74

Total Current Operating Expenses 113,027.01

Surplus (Deficit) for the Period 635,471.75

Certified Correct :

FLORINDA C. PAGOY
Accountant III
 Department of Education
Cordillera Administrative Region
Schools Division of Benguet

Provident Fund
CONDENSED STATEMENT OF FINANCIAL PERFORMANCE
June 30, 2019

Revenue
Tax Revenue -
Service and Business Income 748,498.76
Total Revenue 748,498.76

Less Current Operating Expenses

Personal Services -
Maintenance and Other Operating Expenses 93,927.27
Financial Expenses -
Direct Costs -
Non-Cash Expenses 19,099.74
Total Current Operating Expenses 113,027.01

Surplus/(Deficit) from Current Operations

Net Financial Assistance/Subsidy -

Sale of Assets -
Gains -
Losses -

SURPLUS/(DEFICIT) FOR THE PERIOD 635,471.75

Certified Correct :

FLORINDA C. PAGOY
Accountant III
 Department of Education
Cordillera Administrative Region
Schools Division of Benguet

PROVIDENT FUND
STATEMENT OF FINANCIAL POSITION
June 30 ,2019

ASSETS
Current Assets
Cash and Cash Equivalents
Cash - Collecting Officer -
Cash in Bank - Local Currency, Current Account 108,694.14
Receivables
Loans Receivable - Others 28,352,939.81
Allowance for Impairment - Loans Receivable - Others (272,006.60)
Net Value - Loans Receivable - Others 28,080,933.21

Total Current Assets 28,189,627.35

Non - Current Assets

Property, Plant and Equipment

Information and Communication Technology Equipment 223,661.20

Accumulated Depreciation - Information and Communication Technology Equip (136,215.82)
Accumulated Impairment Losses - Information and Communication Technology -
Net Value 87,445.38
Other Non-Current Assets

Other Assets
Other Assets 6,830.30
Accumulated Impairment Losses - Other Assets -
Net Value 6,830.30

Total Non-Current Assets 94,275.68

TOTAL ASSETS 28,283,903.03

LIABILITIES AND NET ASSETS/EQUITY

LIABILITIES

Current Liabilities
Due to BIR 2,790.13

Total Current Liabilities 2,790.13

Non- Current Liabilities -

Total Non-Current Liabilities -

TOTAL LIABILITIES 2,790.13

TOTAL ASSETS LESS LIABILITIES 28,281,112.90

NET ASSETS/EQUITY

Net Asset/Equity 28,281,112.90

Net Asset/Equity
Accumulated Surplus/(Deficit) 28,281,112.90

TOTAL NET ASSETS/EQUITY 28,281,112.90

Certified Correct :

FLORINDA C. PAGOY
Accountant III
 DEPARTMENT OF EDUCATION
Cordillera Administrative Region
Schools Division of Benguet
Provident Fund
CONDENSED STATEMENT OF FINANCIAL POSITION
June 30, 2019

A S S E T S

Current Assets
Cash and Cash Equivalent 108,694.14
Receivables 28,080,933.21
Inventories 0.00
Investments 0.00
Other Current Assets 0.00
Total Current Assets 28,189,627.35

Non Current Assets

Property, Plant and Equipment 87,445.38
Biological Assets 0.00
Intangible Assets 0.00
Other Non-Current Assets 6,830.30
Total Non Current Assets 94,275.68

TOTAL ASSETS 28,283,903.03

LIABILITIES AND NET ASSETS/EQUITY

Liabilities

Current Liabilities
Inter Agency Payables 2,790.13
Intra Agency Payables 0.00
Trust Liabilities 0.00
Deferred Credits/Unearned Income 0.00
Provisions 0.00
Other Payables 0.00
Total Current Liabilities 2,790.13

Non-Current Liabilities
Financial Liabilities -
Trust Liabilities -
Deferred Credits/Unearned Income -
Provisions -
Other Payables -
Total Non-Current Liabilities -

Total Liabilities 2,790.13

 TOTAL ASSETS LESS LIABILITIES 28,281,112.90

Net Assets/Equity

Accumulated Surplus/(Deficit) 28,281,112.90

TOTAL NET ASSETS/EQUITY 28,281,112.90

28,281,112.90

Certified Correct :

FLORINDA C. PAGOY
Accountant III
 Department of Education
Cordillera Administrative Region
Schools Division of Benguet

PROVIDENT FUND
STATEMENT OF CHANGES IN NET ASSETS/EQUITY
June 30, 2019
#REF!

Beginning Balance 27,645,641.15

Changes in accounting policy -
Prior Period Adjustments/Unrecorded Income and Expenses -
Other Adjustments -
Restated Balance 27,645,641.15
Changes in net assets/equity for calendar year -
Adjustment of net revenue recognized directly in net assets/equity -
Surplus for the period 635,471.75
Total recognized revenue and expenses for the period 635,471.75
Others
Balance Ending Carried Forward 28,281,112.90

Certified Correct :

FLORINDA C. PAGOY
Accountant III
 Department of Education
Cordillera Administrative Region
Schools Division of Benguet

Provident Fund
DETAILED STATEMENT OF CASH FLOWS
June 30, 2019

Cash Flows From Operating Activities

Cash Inflows

Collection of Receivables
Collection of loans and receivables 9,947,297.95
Collection of interest income 748,498.76

Total Cash Inflows 10,695,796.71

Cash Outflows

Payment of Expenses
Payment of personnel services 68,777.27
Payment of office Supplies 6,000.00
Payment of Furniture, Fixtures and Books 9,800.00

Total Cash Outflows -

84,577.27
Net Cash Provided by (Used in) Operating Activities 10,611,219.44

Cash Flows from Investing Activities

Cash Inflows -

Total Cash Inflows -

Cash Outflows

Purchase/Construction of Property, Plant and Equipment

Purchase of machinery and equipment 48,558.00
48,558.00

Grant of Loans
Grant of loans 11,069,060.42
Refund of Overpayments 30,517.23
11,099,577.65

Total Cash Outflows 11,148,135.65

Net Cash Provided By (Used In) Investing Activities - 11,148,135.65

Cash Flows From Financing Activities

Cash Inflows -

Total Cash Inflows -

Cash Outflows

Total Cash Outflows -

Net Cash Provided By (Used In) Financing Activities -

Increase (Decrese) in Cash and Cash Equivalents - 536,916.21

Effects of Exchange Rate Changes on Cash and Cash Equivalents -

Cash and Cash Equivalents, Beginning 645,610.35

Cash and Cash Equivalents, End 108,694.14

Recapitulation:

Cash - Collecting Officer -

Petty Cash -
Cash in Bank - Local Currency, Bangko Sentral Ng Pilipinas -
Cash in Bank - Local Currency, Current Account 108,694.14
Cash in Bank - Local Currency, Savings Account -
Cash in Bank - Local Currency, Time Deposits -
Cash in Bank - Foreign Currency, Bangko Sentral Ng Pilipinas -
Cash in Bank - Foreign Currency, Current Account -
Cash in Bank - Foreign Currency, Savings Account -
Cash in Bank - Foreign Currency, Time Deposits -
Cash - Treasury/Agency Deposit, Regular -
Cash - Treasury/Agency Deposit, Special Account -
Cash - Treasury/Agency Deposit, Trust -
Cash - Modified Disbursement System (MDS), Regular -
Cash - Modified Disbursement System (MDS), Special Account -
Cash - Modified Disbursement System (MDS), Trust -
Cash - Tax Remittance Advice -
108,694.14

Certified Correct :

FLORINDA C. PAGOY
Accountant III
 Department of Education
Cordillera Administrative Region
SCHOOLS DIVISION OFFICE-BENGUET

PROVIDENT FUND
DELINQUENT LOANS
as of June 2019

BORROWER DATE OF LOAN PRINCIPAL INTEREST TOTAL OUTSTANDING REMARKS

BALANCE
ALCISA COCOY JUNE 2015 50,000.00 6,000.00 44,000.00 13,999.88 DECEASED
JULIE BISTOGUEY JUNE 2010 50,000.00 6,000.00 56,000.00 19,008.65 DECEASED
MARCH 2012 50,000.00 9,000.00 59,000.00 59,000.00
JUNE 2012 10,000.00 600.00 10,600.00 10,600.00
JULY 2014 50,000.00 9,000.00 59,000.00 59,000.00
JULY 2014 50,000.00 9,000.00 59,000.00 59,000.00
JULY 2014 50,000.00 9,000.00 59,000.00 59,000.00
MARUSIA CACAP MARCH 2014 50,000.00 3,000.00 53,000.00 57,383.33 DECEASED
OCTOBER 2014 50,000.00 3,000.00 53,000.00 6,361.39
JANUARY 2015 10,000.00 600.00 10,600.00 9,716.66

TOTAL 420,000.00 55,200.00 463,200.00 353,069.91

FLORINDA C. PAGOY
Accountant III
 Department of Education
Cordillera Administrative Region
Schools Division of Benguet

Provident Fund
AGING OF RECIEVABLES
June 30, 2019

TOTAL NO. OF SUMMARY (c) I. TOTAL CURRENT LOANS (d)

EMPLOYEES Total No. of
Total Loans
(Based on Filled Borrowers with Total No. of Loan No. of No. of Loan Amount of Loans
Operating Unit Receivables*
Plantilla Positions Outstanding Accounts* Borrowers Accounts Receivables
*
as of January 1) Loan Balances
(b) (c.1) (c.2) (c.3) (d.1) (d.2) (d.3)
E. SDP BENGUET 4,449 504 565 504 565 28,352,939.81
...
TOTAL 4,449 504 565 504 565 28,352,939.81

II. TOTAL PAST DUE LOANS (e)

One (1) Year to Three (3) Years to
Less than One (1) Year Ten (10) Years and Above Total Past Due
Less than Three (3) Years Less than Ten (10) Years
Operating Unit Amount of No. of Amount of No. of Amount of
No. of Loan Amount of Loans No. of No. of Loan Amount of Loans No. of Loan No. of Loan No. of Loan
No. of Borrowers No. of Borrowers Loans Borrowe Loans Borrowe Loans
Accounts Receivables Borrowers Accounts Receivables Accounts Accounts Accounts
Receivables rs Receivables rs Receivables
(a)
E. SDP BENGUET - - - - - - - - - - - - -
...
TOTAL 0 0 0 0 0 0 0 0 0 0 0 0 0 0 -

A. DECEASED (e-1)
One (1) Year to Three (3) Years to
Less than One (1) Year Ten (10) Years and Above Total Past Due - DECEASED
Less than Three (3) Years Less than Ten (10) Years

Amount of No. of Amount of No. of Amount of

Operating Unit No. of Loan Amount of Loans No. of No. of Loan Amount of Loans No. of Loan No. of Loan No. of Loan
No. of Borrowers No. of Borrowers Loans Borrowe Loans Borrowe Loans
Accounts Receivables Borrowers Accounts Receivables Accounts Accounts Accounts
Receivables rs Receivables rs Receivables

- - - - - - 3 10 353,069.91 - - - 3 10 353,069.91

- - - - - - 3 10 353,069.91 - - - 3 10 353,069.91

One (1) Year

Ten (10)
to B. RESIGNED
Three (e-2)
(3) Years to
Less than One Years
Less than Less than Ten (10) Total Past Due - RESIGNED
(1) Year and
Three (3) Years
Operating Unit Amount of Above
No. of Amount of No. of Amount of
No. of Loan Amount of Loans Years
No. of No. of Loan Amount of Loans No. of Loan No. of Loan No. of Loan
No. of Borrowers No. of Borrowers Loans Borrowe Loans Borrowe Loans
Accounts Receivables Borrowers Accounts Receivables Accounts Accounts Accounts
Receivables rs Receivables rs Receivables

(a)
E. SDP BENGUET - - - - - - - - - - - - - - -
... -
TOTAL - - - - - - - - - - - - - - -

Op
era
tin
C. RETIRED FROM SERVICE (e-3)
g One (1) Year to Three (3) Years to Total Past Due - RETIRED FROM
Less than One (1) Year Ten (10) Years and Above
Uni Less than Three (3) Years Less than Ten (10) Years SERVICE
t Amount of No. of Amount of No. of Amount of
No. of Loan Amount of Loans No. of No. of Loan Amount of Loans No. of Loan No. of Loan No. of Loan
No. of Borrowers No. of Borrowers Loans Borrowe Loans Borrowe Loans
Accounts Receivables Borrowers Accounts Receivables Accounts Accounts Accounts
Receivables rs Receivables rs Receivables
(a)
E. SDP BENGUET - - - - - - - - - - - - - - -
... -
TOTAL - - - - - - - - - - - - - - -

certified correct:
FLORINDA C. PAGOY
Accountant III
 D. ABSENCE WITHOUT LEAVE (AWOL) / LEAVE WITHOUT PAY (LWOP) (e-4)
One (1) Year to Three (3) Years to
Less than One (1) Year Ten (10) Years and Above Total Past Due - AWOL / LWOP
Less than Three (3) Years Less than Ten (10) Years

Operating Unit Amount of No. of Amount of No. of Amount of

No. of Loan Amount of Loans No. of No. of Loan Amount of Loans No. of Loan No. of Loan No. of Loan
No. of Borrowers No. of Borrowers Loans Borrowe Loans Borrowe Loans
Accounts Receivables Borrowers Accounts Receivables Accounts Accounts Accounts
Receivables rs Receivables rs Receivables

(a)
E. SDP BENGUET - - - - - - - - - - - - - - -
... -
TOTAL - - - - - - - - - - - - - - -

E. TRANSFERRED WITHIN THE DEPARTMENT (e-5)

One (1) Year to Three (3) Years to Total Past Due - TRANSFERRED
Less than One (1) Year Ten (10) Years and Above
Less than Three (3) Years Less than Ten (10) Years WITHIN THE DEPARTMENT
Operating Unit Amount of No. of Amount of No. of Amount of
No. of Loan Amount of Loans No. of No. of Loan Amount of Loans No. of Loan No. of Loan No. of Loan
No. of Borrowers No. of Borrowers Loans Borrowe Loans Borrowe Loans
Accounts Receivables Borrowers Accounts Receivables Accounts Accounts Accounts
Receivables rs Receivables rs Receivables

(a)
E. SDP BENGUET - - - - - - - - - - - - - - -
... -
TOTAL - - - - - - - - - - - - - - -

F. TRANSFERRED TO ANOTHER GOVERNMENT AGENCY (e-6)

One (1) Year to Three (3) Years to Total Past Due - TRANSFERRED TO
Less than One (1) Year Ten (10) Years and Above
Less than Three (3) Years Less than Ten (10) Years ANOTHER GOVERNMENT AGENCY
Operating Unit Amount of No. of Amount of No. of Amount of
No. of Loan Amount of Loans No. of No. of Loan Amount of Loans No. of Loan No. of Loan No. of Loan
No. of Borrowers No. of Borrowers Loans Borrowe Loans Borrowe Loans
Accounts Receivables Borrowers Accounts Receivables Accounts Accounts Accounts
Receivables rs Receivables rs Receivables
(a)
E. SDP BENGUET - - - - - - - - - - - - - - -
... -
TOTAL - - - - - - - - - - - - - - -

G. OTHERS (e-7)
One (1) Year to Three (3) Years to
Less than One (1) Year Ten (10) Years and Above Total Past Due - OTHERS
Less than Three (3) Years Less than Ten (10) Years
Operating Unit Amount of No. of Amount of No. of Amount of
No. of Loan Amount of Loans No. of No. of Loan Amount of Loans No. of Loan No. of Loan No. of Loan
No. of Borrowers No. of Borrowers Loans Borrowe Loans Borrowe Loans
Accounts Receivables Borrowers Accounts Receivables Accounts Accounts Accounts
Receivables rs Receivables rs Receivables

(a)
E. SDP BENGUET - - - - - - - - - - - - - - -
... -
TOTAL - - - - - - - - - - - - - - -

certified correct:

FLORINDA C. PAGOY
Accountant III