Financial Statements_as of December 31, 2010

8/2/2019 Financial Statements_as of December 31, 2010

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Post-Closing Trial Balance

General Fund

Account Title Account Code Debit Credit

As of December 31, 2010

PROVINCIAL GOVERNMENT OF LA UNION

Cash - Disbursing Officers 103 6,859,070.61Payroll Fund 106 775,631.16Cash in Bank - Local Currency , Current Account 111 87,235,857.53Cash in Bank - Local Currency, Time Deposits 113 298,050,003.41Loans Receivable - Others 126 27,855,564.70Due from NGAs 136 1,140,078.00Due from LGUs 138 724,832.80Due from NGOs/POs 139 501,760.00Due from Other Funds 144 27,053,741.64Other Receivables 149 1,986,623.45Merchandise Inventory 154 5,974,866.86Office Supplies Inventory 155 1,325,599.14Accountable Forms Inventory 156 508,035.10Drugs and Medicine Inventory 159 3,032,457.21

Medical, Dental and Laboratory Supplies Inventory 160 6,503,542.86Other Supplies Inventory 165 1,425,000.00Advances to Contractors 181 1,180,479.72Other Current Assets 189 10,589.99Land 201 59,826,297.50Land Improvements 202 10,414,704.05Office Buildings 211 83,292,963.27School Buildings 212 27,394,257.28Hospitals and Health Centers 213 24,212,918.71Other Structures 215 15,002,268.13Office Equipment 221 7,451,298.88Furniture and Fixtures 222 24,335,296.21T Equipment and Software 223 19,866,051.54

Machineries 226 1,851,049.74Agricultural, Fishery and Forestry Equipment 227 3,039,660.00Communication Equipment 229 3,504,035.50

Construction and Heavy Equipment 230 41,167,854.04Hospital Equipment 232 47,927,294.00Medical, Dental and Laboratory Equipment 233 8,001,079.50Military and Police Equipment 234 631,997.00Technical and Scientific Equipment 236 2,773,582.00Other Machineries and Equipment 240 11,133,902.27Motor Vehicles 241 48,625,308.68Other Transportation Equipment 248 17,782,006.44Other Property, Plant and Equipment 250 4,885,652.48Construction in Progress - Agency Assets 264 24,732,998.77Construction in Progress - Roads, Highways and Bridges 266 11,622,396.21Construction in Progress - Irrigation, Canals and Laterals 270 406,129.80Construction in Progress - Flood Controls 271 2,657,000.37Construction in Progress - Waterways, Aqueducts, Seawalls, River Walls andOthers

272 118,513.82

Contruction in Progress - Other Public Infrastructures 273 1,062,023.41Other Assets 290 3,056,546,884.40

Accumulated Depreciation - Land Improvements 302 4,461,334.Accumulated Depreciation - Office Buildings 311 16,273,284.Accumulated Depreciation - School Buildings 312 24,654,831.Accumulated Depreciation - Hospitals and Health Centers 313 9,934,043.Accumulated Depreciation - Other Structures 315 3,767,878.Accumulated Depreciation - Office Equipment 321 4,162,055.Accumulated Depreciation - Furniture and Fixtures 322 8,024,132.Accumulated Depreciation - IT Equipment 323 10,103,083.Accumulated Depreciation - Machineries 326 1,039,675.Accumulated Depreciation - Agricultural, Fishery and Forestry Equipment 327 1,890,693.Accumulated Depreciation - Communication Equipment 329 1,178,494.Accumulated Depreciation - Construction and Heavy Equipment 330 25,547,639.Accumulated Depreciation - Hospital Equipment 332 11,149,892.

Date/Time Printed : January 10, 2011 09:25:37 AM Page 1 of 2


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Pre-Closing Trial Balance

General Fund




Cash - Disbursing Officers 103 6,859,070.61Payroll Fund 106 775,631.16Cash in Bank - Local Currency , Current Account 111 87,235,857.53Cash in Bank - Local Currency, Time Deposits 113 298,050,003.41Loans Receivable - Others 126 27,855,564.70Due from NGAs 136 1,140,078.00Due from LGUs 138 724,832.80Due from NGOs/POs 139 501,760.00Due from Other Funds 144 27,053,741.64Other Receivables 149 1,986,623.45Merchandise Inventory 154 5,974,866.86Office Supplies Inventory 155 1,325,599.14Accountable Forms Inventory 156 508,035.10Drugs and Medicine Inventory 159 3,032,457.21

Medical, Dental and Laboratory Supplies Inventory 160 6,503,542.86Other Supplies Inventory 165 1,425,000.00Advances to Contractors 181 1,180,479.72Other Current Assets 189 10,589.99Land 201 59,826,297.50Land Improvements 202 10,414,704.05Office Buildings 211 83,292,963.27School Buildings 212 27,394,257.28Hospitals and Health Centers 213 24,212,918.71Other Structures 215 15,002,268.13Office Equipment 221 7,451,298.88Furniture and Fixtures 222 24,335,296.21T Equipment and Software 223 19,866,051.54

Machineries 226 1,851,049.74Agricultural, Fishery and Forestry Equipment 227 3,039,660.00Communication Equipment 229 3,504,035.50

Construction and Heavy Equipment 230 41,167,854.04Hospital Equipment 232 47,927,294.00Medical, Dental and Laboratory Equipment 233 8,001,079.50Military and Police Equipment 234 631,997.00Technical and Scientific Equipment 236 2,773,582.00Other Machineries and Equipment 240 11,133,902.27Motor Vehicles 241 48,625,308.68Other Transportation Equipment 248 17,782,006.44Other Property, Plant and Equipment 250 4,885,652.48Construction in Progress - Agency Assets 264 24,732,998.77Construction in Progress - Roads, Highways and Bridges 266 11,622,396.21Construction in Progress - Irrigation, Canals and Laterals 270 406,129.80Construction in Progress - Flood Controls 271 2,657,000.37Construction in Progress - Waterways, Aqueducts, Seawalls, River Walls andOthers

272 118,513.82

Contruction in Progress - Other Public Infrastructures 273 1,062,023.41Other Assets 290 3,056,546,884.40

Accumulated Depreciation - Land Improvements 302 4,461,334.Accumulated Depreciation - Office Buildings 311 16,273,284.Accumulated Depreciation - School Buildings 312 24,654,831.Accumulated Depreciation - Hospitals and Health Centers 313 9,934,043.Accumulated Depreciation - Other Structures 315 3,767,878.Accumulated Depreciation - Office Equipment 321 4,162,055.Accumulated Depreciation - Furniture and Fixtures 322 8,024,132.Accumulated Depreciation - IT Equipment 323 10,103,083.Accumulated Depreciation - Machineries 326 1,039,675.Accumulated Depreciation - Agricultural, Fishery and Forestry Equipment 327 1,890,693.Accumulated Depreciation - Communication Equipment 329 1,178,494.Accumulated Depreciation - Construction and Heavy Equipment 330 25,547,639.Accumulated Depreciation - Hospital Equipment 332 11,149,892.



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General Fund




Accumulated Depreciation - Medical, Dental and Laboratory Equipment 333 3,650,176.Accumulated Depreciation - Military and Police Equipment 334 281,624.Accumulated Depreciation - Technical and Scientific Equipment 336 1,424,321.Accumulated Depreciation - Other Machineries and Equipment 340 4,529,247.Accumulated Depreciation - Motor Vehicles 341 19,524,997.Accumulated Depreciation - Other Transportation Equipment 348 11,831,022.Accumulated Depreciation - Other Property, Plant and Equipment 350 2,324,371.Accounts Payable 401 30,773,136.Due to Officers and Employees 403 2,833,499.Due to BIR 412 2,718,337.Due to GSIS 413 3,967,095.Due to PAG-IBIG 414 706,545.Due to PHILHEALTH 415 262,537.Due to Other NGAs 416 532,521.

Due to LGUs 418 1,325,045,080.Due to Other Funds 424 601,781,798.Other Payables 439 790,994,749.Loans Payable - Domestic 444 4,384,263.Other Deferred Credits 455 2,491,890.Government Equity 501 653,952,298.Amusement Tax 581 252,296.Business Taxes 582 578,100.Franchise Tax 584 1,019,426.Occupation Tax 585 270,354.Printing and Publication Tax 586 12,294.Property Transfer Tax 587 3,630,602.Real Property Tax 588 28,718,939.Tax on Sand, Gravel and Other Quarry Products 593 2,325,448.Fines and Penalties - Local Taxes 599 424,291.Permit Fees 605 375,200.

Clearance and Certification Fees 613 985,513.Medical, Dental, and Laboratory Fees 619 15,134,123.Other Services Income 628 1,200,335.Hospital Fees 631 16,553,454.ncome from Dormitory Operations 635 22,850.

Rent Income 642 2,429,280.Subsidy from Other Funds 657 83,426,846.ncome from Grants and Donations 662 935,800.nterest Income 664 5,747,288.nternal Revenue Allotment 665 603,917,631.

Share from National Wealth 669 40,000.Share from PAGCOR/PCSO 670 286,874.Share from Tobacco Excise Tax 671 437,817,193.Miscellaneous Income 678 9,279,916.Gain/Loss on Sale of Disposed Assets 682 3,080.43Prior Years' Adjustments 684 100,506.Salaries and Wages - Regular 701 146,262,796.96

Salaries and Wages - Emergency 707 26,973,101.04Personnel Economic Relief Allowance (PERA) 711 27,590,841.95Representation Allowance (RA) 713 3,111,900.00Transportation Allowance (TA) 714 2,916,300.00Clothing/Uniform Allowance 715 4,688,000.00Subsistence, Laundry and Quarter Allowance 716 5,578,295.00Productivity Incentive Allowance 717 2,112,000.00Honoraria 720 1,000.00Hazard Pay 721 6,569,209.94Overtime and Night Pay 723 693,684.17Cash Gift 724 5,912,500.00Year End Bonus 725 14,707,058.02Life and Retirement Insurance Contributions 731 20,781,425.59



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General Fund




PAG-IBIG Contributions 732 1,400,619.30PHILHEALTH Contributions 733 2,042,767.50ECC Contributions 734 1,211,996.65Terminal Leave Benefits 742 6,772,752.21Other Personnel Benefits 749 15,388,526.71Travelling Expenses - Local 751 9,570,362.55Travelling Expenses - Foreign 752 574,150.00Training Expenses 753 1,661,360.00Office Supplies Expenses 755 10,613,571.89Accountable Forms Expenses 756 249,480.00Animal/Zoological Supplies Expenses 757 152,728.00Food Supplies Expenses 758 5,023,673.07Drugs and Medicines Expenses 759 11,031,186.87Medical, Dental and Laboratory Supplies Expenses 760 6,721,449.44

Gasoline, Oil and Lubricants Expenses 761 6,321,519.48Textbooks and Instructional Materials Expenses 763 20,400.00Other Supplies Expenses 765 4,512,764.25Water Expenses 766 597,872.63Electricity Expenses 767 11,149,689.56Postage and Deliveries 771 358,222.80Telephone Expenses - Landline 772 1,973,013.13Telephone Expenses - Mobile 773 1,129,715.82nternet Expenses 774 1,210,666.00

Membership Dues and Contributions to Organizations 778 340,950.00Advertising Expenses 780 527,867.10Printing and Binding Expenses 781 73,310.00Rent Expenses 782 8,960.00Representation Expenses 783 123,808.00Subscriptions Expenses 786 58,069.68Consultancy Services 793 2,660,000.00

Other Professional Services 799 6,537,000.00Repairs and Maintenance - Office Buildings 811 793,459.00Repairs and Maintenance - Hospital and Health Centers 813 213,300.00Repairs and Maintenance - Other Structures 815 286,224.00Repairs and Maintenance - Office Equipment 821 236,338.17Repairs and Maintenance - IT Equipment and Software 823 5,620.00Repairs and Maintenance - Machineries 826 12,000.00Repairs and Maintenance - Communication Equipment 829 500.00Repairs and Maintenance - Construction and Heavy Equipment 830 963,704.54Repairs and Maintenance - Hospital Equipment 832 94,000.00Repairs and Maintenance - Technical and Scientific Equipment 836 8,544.00Repairs and Maintenance - Other Machineries and Equipment 840 72,468.00Repairs and Maintenance - Motor Vehicles 841 2,603,665.67Repairs and Maintenance - Other Transportation Equipment 848 692,413.69Repairs and Maintenance - Other Property, Plant and Equipment 850 5,800.00Subsidy to Local Government Units 874 1,940,800.00Subsidy to Government Owned and Controlled Corporations 875 35,000,000.00

Subsidy to Other Funds 877 83,426,846.90Donations 878 83,300,422.30ntelligence Expenses 882 6,000,000.00

Extraordinary Expenses 883 70,960.00Fidelity Bond Premiums 892 4,500.00nsurance Expenses 893 1,856,137.73

Depreciation - Land Improvements 902 862,014.24Depreciation - Office Buildings 911 759,716.08Depreciation - Hospitals and Health Centers 913 572,329.37Depreciation - Other Structures 915 403,536.93Depreciation - Office Equipment 921 730,596.26Depreciation - Furniture and Fixtures 922 2,009,417.02Depreciation - IT Equipment 923 2,599,298.49



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Balance SheetAs of December 31, 2010

General Fund

Detailed


ASSETS

Current Assets

Cash

Cash on Hand

Cash - Disbursing Officers 6,859,070.61

Payroll Fund 775,631.16 7,634,701.77________________

Cash in Banks - Local Currency

Cash in Bank - Local Currency , CurrentAccount

87,235,857.53

Cash in Bank - Local Currency, TimeDeposits

298,050,003.41 385,285,860.94 392,920,562.71________________ ________________

Receivables

Receivable Accounts

Loans Receivable - Others 27,855,564.70

Inter - Agency Receivables

Due from NGAs 1,140,078.00

Due from LGUs 724,832.80

Due from NGOs/POs 501,760.00 2,366,670.80________________

Intra - Agency Receivables

Due from Other Funds 27,053,741.64

Other Receivables

Other Receivables 1,986,623.45 59,262,600.59________________

Inventories

Materials

Merchandise Inventory 5,974,866.86

Supplies

Office Supplies Inventory 1,325,599.14

Accountable Forms Inventory 508,035.10

Drugs and Medicine Inventory 3,032,457.21

Date/Time Printed : January 10, 2011 09:26:32 AM

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General Fund

Detailed


Medical, Dental and Laboratory Supplies

Inventory

6,503,542.86

Other Supplies Inventory 1,425,000.00 12,794,634.31 18,769,501.17________________ ________________

Prepayments

Advances to Contractors 1,180,479.72

Other Current Assets

Other Current Assets 10,589.99________________ 472,143,734.18

Property, Plant and Equipment

Land and Land Improvements

Land 59,826,297.50

Land Improvements 10,414,704.05

Less : Accumulated Depreciation - LandImprovements

4,461,334.66 5,953,369.39 65,779,666.89________________ ________________

Buildings

Office Buildings 83,292,963.27

Less : Accumulated Depreciation - OfficeBuildings

16,273,284.10 67,019,679.17________________

School Buildings27,394,257.28

Less : Accumulated Depreciation - SchoolBuildings

24, 654, 831.55 2, 739,425. 73________________

Hospitals and Health Centers 24,212,918.71

Less : Accumulated Depreciation - Hospitals andHealth Centers

9,934,043.43 14,278,875.28________________

Other Structures 15,002,268.13

Less : Accumulated Depreciation - OtherStructures

3,767,878.29 11,234,389.84 95,272,370.02________________ ________________

Office Equipment, Furniture and Fixtures

Office Equipment 7,451,298.88

Less : Accumulated Depreciation - OfficeEquipment

4,162, 055. 34 3, 289,243. 54________________

Furniture and Fixtures 24,335,296.21

Less : Accumulated Depreciation - Furniture andFixtures

8,024,132.93 16,311,163.28________________

IT Equipment and Software 19,866,051.54

Less : Accumulated Depreciation - IT Equipment 10,103,083.05 9,762,968.49 29,363,375.31________________ ________________


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General Fund

Detailed


Machineries and Equipment

Machineries 1,851,049.74

Less : Accumulated Depreciation - Machineries 1,039,675.73 811,374.01________________

Agricultural, Fishery and Forestry Equipment 3,039,660.00

Less : Accumulated Depreciation - Agricultural,Fishery and Forestry Equipment

1,890, 693.45 1, 148,966. 55________________

Communication Equipment 3,504,035.50

Less : Accumulated Depreciation -Communication Equipment

1,178, 494.5 1 2, 325,540. 99________________

Construction and Heavy Equipment 41,167,854.04

Less : Accumulated Depreciation - Constructionand Heavy Equipment

25,547,639.81 15,620,214.23________________

Hospital Equipment 47,927,294.00

Less : Accumulated Depreciation - HospitalEquipment

11,149,892.53 36,777,401.47________________

Medical, Dental and Laboratory Equipment 8,001,079.50

Less : Accumulated Depreciation - Medical, Dentaland Laboratory Equipment

3,650, 176. 96 4, 350,902. 54________________

Military and Police Equipment 631,997.00

Less : Accumulated Depreciation - Military andPolice Equipment

281,624.01 350,372.99________________

Technical and Scientific Equipment 2,773,582.00

Less : Accumulated Depreciation - Technical andScientific Equipment

1,424, 321. 88 1, 349,260. 12________________

Other Machineries and Equipment 11,133,902.27

Less : Accumulated Depreciation - OtherMachineries and Equipment

4,529,247.45 6,604,654.82 69,338,687.72________________ ________________

Transportation Equipment

Motor Vehicles 48,625,308.68

Less : Accumulated Depreciation - Motor Vehicles 19,524,997.56 29,100,311.12________________

Other Transportation Equipment 17,782,006.44

Less : Accumulated Depreciation - OtherTransportation Equipment

11,831,022.29 5,950,984.15 35,051,295.27________________ ________________

Other Property, Plant and Equipment

Other Property, Plant and Equipment 4,885,652.48


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General Fund

Detailed


Less : Accumulated Depreciation - Other Property,Plant and Equipment

2,324,371.37 2,561,281.11________________

Construction in Progress

Agency Assets

Construction in Progress - Agency Assets 24,732,998.77

Public Infrastructures / Reforestation Projects

Construction in Progress - Roads, Highwaysand Bridges

11,622,396.21

Construction in Progress - Irrigation,Canals and Laterals

406,129.80

Construction in Progress - Flood Controls 2,657,000.37

Construction in Progress - Waterways,Aqueducts, Seawalls, River Walls andOthers

118,513.82

Contruction in Progress - Other PublicInfrastructures

1,062,023.41 15,866,063.61 40,599,062.38________________ ________________ ________________ 337,965,738.70

Other Assets

Other Assets 3,056,546,884.40___________________

OTAL ASSETS 3,866,656,357.28________________________________

LIABILITIES

Current Liabilities

Payable Accounts

Accounts Payable 30,773,136.85

Due to Officers and Employees 2,833,499.80 33,606,636.65________________

Inter - Agency Payables

Due to BIR 2,718,337.60

Due to GSIS 3,967,095.36

Due to PAG-IBIG 706,545.54

Due to PHILHEALTH 262,537.70

Due to Other NGAs 532,521.13

Due to LGUs 1,325,045,080.33 1,333,232,117.66________________

Intra - Agency Payables

Due to Other Funds 601,781,798.04


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General Fund

Detailed


Other Liability Accounts

Other Payables 790,994,749.01________________ 2,759,615,301.36

Long Term Liabilities

Mortgage/Bonds/Loans Payable

Loans Payable - Domestic 4,384,263.42

Deferred Credits

Other Deferred Credits 2,491,890.00________________

OTAL LIABILITIES 2,766,491,454.78

EQUITY

Government Equity

Government Equity 1,100,164,902.50________________

OTAL EQUITY 1,100,164,902.50________________

OTAL LIABILITIES AND EQUITY 3,866,656,357.28________________________________


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Statement of Income and Ex ensesFor the period ending December 31, 2010

General Fund

Detailed


Income

General Income Accounts

Subsidy Income

Subsidy from Other Funds 83,426,846.90

Permits and Licenses

Permit Fees 375,200.00

Service Income

Clearance and Certification Fees 985,513.50

Medical, Dental, and Laboratory Fees 15,134,123.21

Other Services Income 1,200,335.50________________ 17,319,972.21

Business Income

Hospital Fees 16,553,454.40

Income from Dormitory Operations 22,850.00

Rent Income 2,429,280.23________________ 19,005,584.63

Other Income

Income from Grants and Donations 935,800.40

Interest Income 5,747,288.71

Internal Revenue Allotment 603,917,631.00

Share from National Wealth 40,000.00

Share from PAGCOR/PCSO 286,874.48

Share from Tobacco Excise Tax 437,817,193.90

Miscellaneous Income 9,279,916.06________________ ________________ 1,178,152,308.291,058,024,704.55

Tax Revenue

Local Taxes

Amusement Tax 252,296.00

Business Taxes 578,100.00

Franchise Tax 1,019,426.05



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General Fund

Detailed


Occupation Tax 270,354.00

Printing and Publication Tax 12,294.54

Property Transfer Tax 3,630,602.58

Real Property Tax 28,718,939.26

Tax on Sand, Gravel and Other Quarry Products 2,325,448.02

Fines and Penalties - Local Taxes 424,291.70________________ 37,231,752.15

Gain/Loss Accounts

Gain/Loss on Sale of Disposed Assets ________________)(3,080.43

ross Income ________________1,215,380,980.01

Less: Expenses

Personal Services

Salaries and Wages

Salaries and Wages - Regular 146,262,796.96

Salaries and Wages - Emergency 26,973,101.04________________ 173,235,898.00

Other Compensation

Personnel Economic Relief Allowance (PERA) 27,590,841.95

Representation Allowance (RA) 3,111,900.00

Transportation Allowance (TA) 2,916,300.00

Clothing/Uniform Allowance 4,688,000.00

Subsistence, Laundry and Quarter Allowance 5,578,295.00

Productivity Incentive Allowance 2,112,000.00

Honoraria 1,000.00

Hazard Pay 6,569,209.94

Overtime and Night Pay 693,684.17

Cash Gift 5,912,500.00

Year End Bonus 14,707,058.02________________ 73,880,789.08

Personnel Benefits Contributions



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General Fund

Detailed


Life and Retirement Insurance Contributions 20,781,425.59

PAG-IBIG Contributions 1,400,619.30

PHILHEALTH Contributions 2,042,767.50

ECC Contributions 1,211,996.65________________ 25,436,809.04

Other Personnel Benefits

Terminal Leave Benefits 6,772,752.21

Other Personnel Benefits 15,388,526.71________________ ________________ 294,714,775.0422,161,278.92

Maintenance and Other Operating Expenses

Travelling Expenses

Travelling Expenses - Local 9,570,362.55

Travelling Expenses - Foreign 574,150.00________________ 10,144,512.55

Training and Scholarship Expenses

Training Expenses 1,661,360.00

Supplies and Material Expenses

Office Supplies Expenses 10,613,571.89

Accountable Forms Expenses 249,480.00

Animal/Zoological Supplies Expenses 152,728.00

Food Supplies Expenses 5,023,673.07

Drugs and Medicines Expenses 11,031,186.87

Medical, Dental and Laboratory Supplies Expenses 6,721,449.44

Gasoline, Oil and Lubricants Expenses 6,321,519.48

Textbooks and Instructional Materials Expenses 20,400.00

Other Supplies Expenses 4,512,764.25________________ 44,646,773.00

Utility Expenses

Water Expenses 597,872.63

Electricity Expenses 11,149,689.56________________ 11,747,562.19

Communication Expenses



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General Fund

Detailed


Postage and Deliveries 358,222.80

Telephone Expenses - Landline 1,973,013.13

Telephone Expenses - Mobile 1,129,715.82

Internet Expenses 1,210,666.00________________ 4,671,617.75

Membership Dues and Contributions to Oranizations

Membership Dues and Contributions to Organizations 340,950.00

Advertising Expenses

Advertising Expenses 527,867.10

Printing and Binding Expenses

Printing and Binding Expenses 73,310.00

Rent Expenses

Rent Expenses 8,960.00

Representation Expenses

Representation Expenses 123,808.00

Subscriptions Expenses

Subscriptions Expenses 58,069.68

Professional Services

Consultancy Services 2,660,000.00

Other Professional Services 6,537,000.00________________ 9,197,000.00

Repair and Maintenance

Buildings

Repairs and Maintenance - Office Buildings 793,459.00

Repairs and Maintenance - Hospital and Health Centers 213,300.00

Repairs and Maintenance - Other Structures 286,224.00 1,292,983.00________________

Office Equipment, Furniture and Fixtures

Repairs and Maintenance - Office Equipment 236,338.17

Repairs and Maintenance - IT Equipment and Software 5,620.00 241,958.17________________



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General Fund

Detailed



Repairs and Maintenance - Machineries 12,000.00

Repairs and Maintenance - Communication Equipment 500.00

Repairs and Maintenance - Construction and Heavy Equipment 963,704.54

Repairs and Maintenance - Hospital Equipment 94,000.00

Repairs and Maintenance - Technical and Scientific Equipment 8,544.00

Repairs and Maintenance - Other Machineries and Equipment 72,468.00 1,151,216.54________________


Repairs and Maintenance - Motor Vehicles 2,603,665.67

Repairs and Maintenance - Other Transportation Equipment 692,413.69 3,296,079.36________________


Repairs and Maintenance - Other Property, Plant and Equipment 5,800.00________________ 5,988,037.07

Subsidies and Donations

Subsidy to Local Government Units 1,940,800.00

Subsidy to Government Owned and Controlled Corporations 35,000,000.00

Subsidy to Other Funds 83,426,846.90

Donations 83,300,422.30________________ 203,668,069.20

Confidential, Intelligence, Extraordinary and Misc Expenses

Intelligence Expenses 6,000,000.00

Extraordinary Expenses 70,960.00________________ 6,070,960.00

Taxes, Insurance Premiums and Other Fees

Fidelity Bond Premiums 4,500.00

Insurance Expenses 1,856,137.73________________ 1,860,637.73

Non-Cash Expenses

Depreciation

Land Improvements

Depreciation - Land Improvements 862,014.24



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General Fund

Detailed


Buildings

Depreciation - Office Buildings 759,716.08

Depreciat ion - Hospitals and Health Centers 572,329.37

Depreciation - Other Structures 403,536.93 1,735,582.38________________

Office Equipment - Furniture and Fixtures

Depreciation - Office Equipment 730,596.26

Depreciation - Furniture and Fixtures 2,009,417.02

Depreciation - IT Equipment 2,599,298.49 5,339,311.77________________


Depreciation - Machineries 71,914.50

Depreciaiton - Agricultural, Fishery andForestry Equipment

246,755.28

Depreciation - Communication Equipment 294,957.22

Depreciation - Construction and HeavyEquipment

1,674,570.48

Depreciation - Hospital Equipment 3,747,530.12

Depreciation - Medical, Dental andLaboratory Equipment

235,975.12

Depreciat ion - Mi li tary and Police Equipment 38,254.80

Depreciation - Technical and ScientificEquipment

178,266.87

Depreciation - Other Machineries andEquipment

848,324.34 7,336,548.73________________


Depreciation - Motor Vehicles 3,989,662.50

Depreciation - Other Transportation

Equipment

596,805.91 4,586,468.41________________


Depreciation - Other Property, Plant andEquipment

592,592.77________________ 20,452,518.30

Other Maintenance and Other Operating Expenses

Other Maintenance and Other Operating Expenses ________________ 474,286,693.25153,044,680.68

Financial Expenses



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General Fund

Detailed


Interest Expenses ________________267,414.43

otal Operating Expenses ________________769,268,882.72

et Income (Loss) ________________________________446,112,097.29



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Statement of Cash FlowsPeriod Ended January 01, 2010 To December 31, 2010

General Fund


Cash Flow from Operating Activities :

Cash Inflows :

Other Manual Transactions 190,236,554.76

Collection from Sale of Inventory Items 13,893,813.09

Collection of Business Income 19,005,584.63

Collection of Inter-Agency Receivables 1,017,465.99

Collection of Intra-Agency Receivables 24,068,622.51

Collection of Loan Receivables 2,150,085.30

Collection of Local Taxes 14,054,964.71

Collection of Other Income 181,540,939.44

Collection of Other Receivables 27,593,251.34

Collection of Overpayment of MOOE/Capital Outlay 74,351.72

Collection of Overpayment of Salaries, Wages, Benefits and Other Compensation 20,481.75

Collection of Permits and Licenses 375,200.00

Collection of Prior Years Income 7,446.24

Collection of Real Property Tax 27,994,931.46

Collection of Receivables - Special 6,072,482.85

Collection of Service Income 17,801,035.79

Other Adjustments 8,171,193.51

Proceeds from Sale of Property, Plant and Equipment 20,140,870.00

Receipt of Funds for Implementation of Projects 13,092,649.51

Receipt of Government Share for Terminal Leave Benefits/Monetization of Leave Credits ofDevolved LG

24,010,113.00

Receipt of Internal Revenue Allotment 603,917,631.00

Receipt of Refund of Cash Advance for Travel and Special Purpose 601,700.67

Receipt of Retention Fees from Contractors 10,000,000.00

Receipt of Share from Tobacco Excise Tax 270,011,091.84

Receipt of Subsidy from Other Fund 92,937,471.87________________

Total Cash Inflows : 1,568,789,932.9

Cash OutFlows :

Remittance of Withholding Taxes to BIR )(36,917,373.52

Remittance to PHILHEALTH for Mandatory and Authorized Deductions )(3,881,558.37



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General Fund


Payment for Other Maintenance and Other Operating Expenses )(149,071,774.95

Payment of Advances to Contractors )(1,308,714.86

Grant of Loan to Officials and Employees )(20,464,490.95

Remittance to Government Agencies and Private Entities for Authorized Deductions )(31,598,005.56

Adjustment of Income Accounts )(1,291,785.98

Remittance to GSIS for Mandatory and Authorized Deductions )(52,055,491.00

Purchase of Inventories, Supplies and Materials Directly Issued to End-User )(24,136,615.10

Payment for Taxes, Premiums and Other Fees )(1,742,342.51

Payment of Financial Expenses )(413,803.32

Payment of Intra-Agency Payable )(9,256,569.43

Purchase/Fabrication/Construction of Property, Plant and Equipment )(67,432.00

Payment of Miscellaneous Expenses )(2,000.00

Payment for Training and Scholarship Expenses )(1,772,447.75

Payment of Progress Billing of Contractors for Public Infrastructures )(121,136,733.57

Payment of Progress Billing of Contractor for Agency Assets )(14,454,374.19

Grant of Cash Advance for Travel and Special Purpose )(10,639,175.42

Payment for Utility Expenses )(9,903,987.37

Reimbursement of Traveling Expenses )(8,799,426.61

Grant of Subsidies and Donations )(212,714,231.49

Payment for Repairs and Maintenance of Property, Plant and Equipment )(4,143,352.46

Payment for Purchase of Inventories, Supplies and Materials for Stock )(23,439,111.56

Other Adjustments )(8,046,851.66

Payment of Accounts Payable for Construction in Progress and Purchase of PPE )(2,433,083.79

Transfer of Funds for Implementation of Project )(8,092,649.51

Remittance to PAG-IBIG for Mandatory and Authorized Deductions )(10,840,135.68

Payment of Accounts Payable for Personal Services, Supplies, Materials and Other MOOE )(24,863,007.84

Payment/Reimbursement of Confidential, Intelligence, Extraordinary and MiscellaneousExpenses

)(39,225.00

Payment of Salaries and Wages and Other Compensation )(207,816,202.45

Payment of Other Liability Accounts )(2,244,021.60

Payment of Inter-Agency Payable )(24,483,360.29

Grant of Loan to LGUs, NGOs/POs and Other Entities )(5,000,000.00

Other Manual Transactions )(190,081,149.76

Payment for Communication Expenses )(4,102,377.70



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General Fund


Payment for Professional Services )(8,933,000.00

Adjustment for Overstatement of Recorded Collections )(41,151.93________________

Total Cash Outflows : (1,236,227,015.1______________

Cash Provided by Operating Activities 332,562,917.8

Cash Flow from Investing Activities :

Cash Inflows :

Other Adjustments 31,737.60

Proceeds from Sale of Property, Plant and Equipment 237,000.00________________

Total Cash Inflows : 268,737.6

Cash OutFlows :

Purchase/Fabrication/Construction of Property, Plant and Equipment )(53,941,375.67________________

Total Cash Outflows : (53,941,375.6______________

Cash Provided by Investing Activities (53,672,638.0

Cash Flow from Financing Activities :

Cash OutFlows :

Payment of Bonds/Loans Payable and Other Long-Term Liabilities )(22,607,385.83________________

Total Cash Outflows : (22,607,385.8______________

Cash Provided by Financing Activities (22,607,385.8______________

Total Cash provided by Operating, Investing, Financing Activities 256,282,893.9

Add : Cash Balance Beginning Jan 1 2010 136,637,668.8______________

Cash Balance Ending Dec 31 2010 392,920,562.7____________________________



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Statement of Government EquityAs of December 31, 2010

General Fund


Government Equity, beginning balance 374,213,628.06

Add: Retained Operating Surplus

Current Operations 446,112,097.29

Adjustment of Prior Years 100,506.40 446,212,603.69________________ ________________

Public Infrastructure )(126,514,495.64

Total 693,911,736.11

Add/Deduct:

Other Adjustments 406,253,166.39________________

Government Equity, End 1,100,164,902.50________________________________



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NOTES TO FINANCIAL STATEMENTS

NOTE 1. GENERAL/AGENCY PROFILE

LA UNION PROVINCE is an offspring of the union adjoining land areas carved out from the ninetowns in Pangasinan, three of Ilocos Sur and villages of the Eastern Pais del Igorotes in the Cordilleras. It

was created by virtue of Superior Decreto issued on March 2, 1850 by Governor-General Antonio MariaBlanco. The establishment of La Union as a province was formally approved by the Real Orden of QueenIsabella II of Spain on April 18, 1854. The name La Union indicates the union of towns from differentprovinces. Since its creation in 1850, La Union is now designated as the center of government for itscontributory share in the economic, social, cultural, moral and political development not only in the regionbut nationwide as well. Today, La Union is classified as a first class, progressive, growth-oriented province.

The original twelve towns of the Province have grown to 19 municipalities and a city. Its capital, SanFernando City, is the seat of the regional government offices as well as the regions educational andcommercial center. In the late 1990s, the national leadership declared La Union as one of the archipelagos12 regional administrative centers. La Union has been a springboard to the vigorous East Asian economies.Its major industries/traditional products include softbrooms, baskets, hand-woven blankets (Inabel), pottery,rice wine (Tapuey), sugarcane wine (Basi), sugarcane vinegar, wood craft, bamboo craft, native rice cakes,

antique-finish furniture, dried fish, honey and mushroom. It is also proximal to the trading centers in Luzonsuch as Baguio, Laoag, Vigan, Dagupan and Urdaneta.

The Provincial Government of La Union (PGLU) journeys towards the attainment of its VISION of LA UNION: Haven of Peace, Unity and Prosperity for a Much Improved Quality of Life. The IMPROVEMENTof the QUALITY OF LIFE of every constituent in La Union continues to be its primordial vision. The presentadministration aggressively pursued the implementation of PEACE development agenda. PEACE standsfor Participatory Local Administration and Governance, Economic Development Program towards SustainedGrowth and Equity, Availability of Efficient Utilities and Infrastructure Support Program, ComprehensiveSocial Services Delivery and Environment and Natural Resources Program towards SustainableManagement and Utilization of Natural Resources.

The Provincial Government of La Union (PGLU) believes that peace, order and security are the mostessential factors in achieving the ultimate goal of development. The present administration has pledged toprovide and maintain security, stability, peace and order conducive to economic growth and communitydevelopment as its main thrust. PEACE aims to ensure that all families and sectors of La Union will berationally served; and emerged economically, socially and environmentally secure; and that La Unionscompetitive advantage be fortified. PEACE also serves as the key success areas from which theperformance of the entire provincial government is evaluated.

Headed by the courageous and assiduous Local Chief Executive, Honorable Manuel C. Ortega andastoundingly supported by the Legislative Body and Cabinet Executive Staffs (Department Heads, Chiefs ofHospitals and Consultants to Special Programs/Projects) made continuous notable achievements during theyear 2010, the major of which are Best Project Implementer, awarded by Regional Development Council(RDC) Region I; 2010 Presidential Citations for Best Practices (Nominee), by the Micro, Small and MediumEnterprise Development Committee (MSMEDC); Most Business-Friendly Local Government Unit (SpecialCitation) awarded by Philippine Chamber of Commerce and Industry (PCCI); Maintenance of National Honor

Award by the Regional Nutrition Committee; Regional Gawad Saka Award, CY 2010; Regional Gawad SakaAward-Rice Category. The following are the numerous awards previously garnered by the Province:

1) Most Business-Friendly Local Government Unit, Provincial Category, CY 20072) Certificate of Recognition as Local Government Unit with the Shortest Roll-Out Period and

Most Updated Financial Statements using the e-NGAS, CY 20073) GAWAD KALASAG (Kalamidad at Sakuna Labanan, Sariling Galing at Kaligtasan) 2007 as

the Best Provincial Disaster Coordinating Council National and Regional Levels4) Outstanding Performance Award in Population Management, 20075) Best NSM Province in Region I, CY 20076) First Runner-up, Best Coastal Resource Management/Local Government Unit Implementer

in Region I, CY 20077) Best Provincial Employment Services Office Performance Award in Region I, CY 2007


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8) Outstanding Local Government Unit/Agency Project Monitor/ Over-all LGU Championawarded by the RDC Region I

9) Best LGU Poverty Reduction Program Implementer-RDC Region I and Regional KALAHI orKapit-bisig Laban sa Kahirapan Convergence Group

10) Most Outstanding Coastal Management Resource Management (CRM) Implementer for CY2006 & 2007

11) Champion, 2007 Search for the Best LGU Province in Region I based on the LocalGovernment Performance Management System (LGPMS), RDC, Region I

12) 2nd

Runner-up, Search for the Cleanest, Greenest and Safest Province in Region I, RDCRegion I, CY 2008

13) Best Provincial Employment Service Office or PESO Performance Award, DOLE Region I,CY 2008

14) Best LGU Implementor of Renal Disease Control Program (REDCOP), DOH-REDCOP andNational Kidney Transplant Institute (NKTI), CY 2008

15) Star Plus Regional Productivity & Quality Performance Award, Regional ProductivityCommittee (RPC), RDC Region I, CY 2008

16) Most Business Friendly LGU Award, Provincial Category-Level I, awarded by the PhilippineChamber of Commerce and Industry and the German Technical Corporation, CY 2009

17) Best One-Town One-Product (OTOP) Implementer awarded by the Department of Tradeand Industry (DTI), CY 2009

18) Most Outstanding Monitor (Province) by the Regional Development Council (RDC, Region I,

CY 200919) Best Gender and Development (GAD) Responsive LGU Monitor, RDC Region I, CY 200920) Best LGU- Millennium Development Goals (MDG) Project Implementor, RDC Region I, CY

200921) Model Province Award in Region, by the Civil Service Commission (CSC) in recognition of

the Provinces campaign against red-tape and in compliance of R.A. 9485 otherwise knownas the Anti Red-Tape Act of 2007, CY 2009

22) Reproductive Health Grant Facility Award, CY 2009

On top of these marks of distinction for the Province, the projects/programs are more envisioned tomaintain and provide quality service in all aspects of local governance and public services delivery. To date,La Union is proud to have held its record as one of the healthiest, cleanest, greenest and most peacefulprovinces entire the country. It maintains among the lowest crime and malnutrition rates and carries out asound environment policy. Peace and order, and political and economic stability are among the proudtraditions and legacy of La Union.

The Consolidated Financial Statements of the General Fund include the accounts of the GeneralFund Proper, the Special Account - 20% Local Development Fund, the Special Accounts for the Five (5)District Hospitals namely Northern La Union Maternity and Childrens Hospital (NLUMCH), Bacnotan DistrictHospital (BDH), Naguilian District Hospital (NDH), Caba Medicare and Community Hospital (CMCH) andRosario District Hospital (RDH); the Five (5) Special Accounts for the 24-Hour Cash Basis Pharmacy beingmaintained by the said district hospitals and the recently separated accounts of R.A. 7171 (Tobacco ExciseTaxes Fund) and PGLU Livelihood/Salary Loan Assistance Fund.

The General Fund Proper constitute the accounts of the Offices of the Executive & Legislative, theStatutory/Mandatory Obligations and Non Offices that are fully supported by the Provincial Treasurerscollections of the real property taxes, business receipts, fees and share of the Province from the Internal

Revenue Allotment during the year. The expenditures in the General Fund Proper also includes payment ofIntelligence Fund under the Office of the Governor, payment of consultancy services, honoraria ofprosecutors, judges and COMELEC supervisors and officers, and subsidy to the La Union Medical Center,calamity-related expenses, financial assistance to Red Cross and to the Boy Scout of the Philippines andfinancial assistance to the different local government units.

The Special Account 20 % Local Development Fund is funded from the share of Internal RevenueAllotment actually collected during the year. It has fully maintained support mainly to the various priorityprograms/projects and other mandates under the PEACE agenda of the present administration. Noted areas follows: Implementation of the Integrated Taxation Management System (I-TAX) project; hospitalmedicines and equipment support; purchases of machineries and hospital equipment; financial assistancesto LGUs for the concreting of barangay roads, construction of barangay halls and day care centers, watersystem development, acquisition of agricultural equipment distributed to barangays; installation of street


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lights, and for sports development programs; Operation Rang-ay iti Barangay Program (ORB)- a communityoutreach program, Bringing-in All the Basic Services to the clustered barangays in the different municipalitiesof the Province; maintained support to the Special Scholarship Program for qualified students; financialassistance and Philhealth insurance to indigents; enhanced access to golden existence programs; Tourismpromotion; salaries & wages of 16 Day Care workers; Nutrition and Population programs; scholarshipprogram to qualified deserving students, environmental protection programs, calamity and relief operations.

The Special Accounts for the Five (5) District Hospitals of the Provincial Government were created in

May 2008 in preparation for the full implementation of the District Hospitals Economic Enterprise program.The accounts of the district hospitals were previously under the General Fund Proper since the devolution in1992. Said hospitals were transformed into economic enterprises by virtue of Sangguniang PanlalawiganResolution No. 038-2005, dated February 10, 2005, or the resolution approving the La Union IntegratedPublic Health and Hospital Service Development Plan for CY 2004-2008. This has facilitated the recording offinancial transactions as well as the monitoring of income and expenditures to ensure transparency and well-defined accountability in order to achieve a more efficient and timely delivery of health services to the public.

The Special Accounts for the 24-Hour Cash Basis Pharmacy, being maintained by the Five (5)district hospitals were also created last May 2008. The accounts of the said cash pharmacies werepreviously integrated under the General Fund Proper since November 2007. This has helped in themonitoring of income derived from the sale of drugs and medicines, medical, dental and laboratory supplies.

The Tobacco Excise Tax Fund (R.A. 7171) is funded by the share of the Province from the TobaccoExcise Taxes equivalent to 15 percent of the excise taxes on locally manufactured Virginia-type cigarettes.Republic Act No. 7171, entitled An Act to promote the development of the farmers in Virginia TobaccoProducing Provinces was enacted into law on January 9, 1992. The Provincial Government of La Union(PGLU) strictly adheres to Memorandum Circular No. 61-A and Memorandum Circular No. 41, both issuedby the Office of the President, Malacanang, dated November 28, 1993 and September 8, 1999, respectively.The R.A. 7171 Fund is treated as a Special Account under the General Fund. The projects implemented areduly approved by the Sangguniang Panlalawigan (SP) through an appropriation ordinance or resolution. Thefunds received this year were programmed under SP Resolution Nos. 070-2010,193-2010, and 275-2010 forthe following projects: (1) Skills Training/Cooperative Development/Livelihood Loan Assistance; (2) Flue-curing Assistance; (3) La Union Greening Program; (4) Agriculture Equipment Assistance; (5) Purchase ofHeavy Equipment; (6) Multi-Purpose Training Center; (7) La Union Apiculture Processing Center; (8)Rehabilitation of Agricultural Lands and clearing of barangay roads; (9) Construction of Drainage and FloodControl Systems; (10) Repairs of Irrigation Dams; (11) Construction of Farmers Multi-purpose Hall; (12)Construction of Water systems; and (13) Concrete Paving & improvement of Farm-to-Market Roads.

The PGLU Salary and Livelihood Assistance Program was implemented by virtue of SannguniangPanlalawigan Resolution No. 091-2010 dated April 15, 2010 and Sangguniang Panlalawigan Ordinance No.014-2010. It is an Economic Enterprise created to generate revenue for the province and to providefinancial assistance in the form of salary or livelihood loan to PGLU officials and employees at a low rate.This project is beneficial both to PGLU and its employees because it increases revenue to the province in theform of interest income, service income & miscellaneous income and for the employees, instead of availingloans from various lending institutions of high interests, they can obtain loan at minimal interest rate. TheLoan Assistance fund has an approved budget of Twenty Million Pesos (20,000,000.00) which is funded bythe General Fund but due to the growing number of borrowers availing the program, an additional FiveMillion Pesos (5,000,000.00) from R.A. 7171 was added to the fund pursuant to Sannguniang PanlalawiganResolution no. 275-2010 dated October 14, 2010. Monthly collection of loan amortizations also served as

revolving fund in order to accommodate all qualified loan applicants. It is treated as a special account underthe General Fund Books of PGLU and all transactions of the project are fully recorded & accounted. To date,there are 290 officials & employees who availed the loan program and the total gross loan granted is TwentyNine Million Six Hundred Thirty Eight Thousand Pesos (Php 29,638,000.00). On its first seven months ofimplementation, the Province generated a net income of One Million Four Hundred Sixty Four Thousand OneHundred Forty Five Pesos (Php1, 464,145.00).


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NOTE 2. BASIS OF FINANCIAL STATEMENTS PRESENTATION

The Financial Statements are prepared in accordance with the generally accepted state accountingprinciples and standards using the electronic New Government Accounting System (e-NGAS). The e-NGASis an accounting software developed by the Commission on Audit to ensure correctness, reliability,completeness and timeliness in recording government financial transactions and to generate financial reportsin accordance with the policies and procedures of the New Government Accounting System.

NOTE 3. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

The Agency utilized the accrual basis of accounting. All expenses are recognized when incurred andreported in the books of accounts in the period to which they relate. Income is also on accrual basis exceptfor transactions where accrual basis is impractical or when other methods are required by law.

Procurement of supplies/materials and equipment are done in accordance with the GovernmentProcurement Reform Act or R.A. 9184.

Cost of Inventories are based on perpetual inventory method and priced following the movingaverage method.

Petty Cash Fund (PCF) account is maintained under the Imprest System. All replenishments aredirectly charged to the expense account. The PCF is not used to purchase regular inventory items for stock.

Property, Plant and Equipment are carried at historical cost. Infrastructure projects underconstruction are valued following the construction period theory. The cost of public infrastructures such asroads, bridges, irrigations, canals and laterals and other infrastructures for general public use are not carriedin the books of the agency.

The straight line method is used in recording the depreciation of the Property, Plant and Equipmentas prescribed in the e-NGAS. Depreciation is computed on the month following the date of purchase. Nodepreciation is charged to completed public infrastructures and those under construction.

Real property taxes, business taxes, other fees and the Share from Internal Revenue Collections areaccounted using the accrual method of accounting.

Unserviceable Property, Plant and Equipment were properly reclassified as Other Assets.

Payable accounts are properly recognized and recorded in the books only upon acceptance of thegoods/other assets and rendition of the services to the agency.

Financial Expenses such as Bank Charges, Documentary Stamps Expense, and Interest Expensesare separately classified from Maintenance and Other Operating Expenses.

NOTE 4. CORRECTION OF FUNDAMENTAL ERRORS

Fundamental errors of prior years are corrected using the Prior Years Adjustments account. Errorsaffecting the current years operation are charged to the current years accounts.


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NOTE 5. CASH

This account consists of the following:

1. Cash on Hand

A. Cash Disbursing Officer

General Fund ProperRizalina V. Padan P 3,983,777.83

Romulo P. Guerrero 88,253.13 4,072,030.96P

20% LDF

Rizalina V. Padan 1,482,141.29

Romulo P. Guerrero 75,454.69 1,557,595.98

R. A. 7171

Rizalina V. Padan 1,215,765.95

Romulo P. Guerrero 13,677.72 1,229,443.67 6,859,070.61P

B. Payroll Fund

General Fund Proper

Rizalina V. Padan 775,631.16 7,634,701.77P

2. Cash in Bank-Local Currency

A. Cash in Bank - Local Currency, Current Accounts

Fund/Bank Account Number

General Fund Proper

LBP - La Union 0202-0010-41 26,551,113.64P

DBP - La Union 0570-004697-030 89,585.38 26,640,699.02P

Local Development Fund

LBP - La Union 0202-0226-50 3,144,880.45

R.A. 7171 Fund

LBP - La Union 0202-0143-99 1,211,795.12P

LBP - La Union 0202-0239-08 22,811,021.16 24,022,816.28

Loan Assistance Fund

LBP - La Union 0202-0238-27 1,536,403.46

Hospital Accounts

DBP - La Union (NLUMCH 0570-004691-030 4,367,235.60PDBP - La Union (NDH) 0570-004690-030 4,697,442.87

DBP - La Union (BDH) 0570-004688-030 6,026,114.68

DBP - La Union (RDH) 0570-004692-030 5,775,396.17

DBP - La Union (CMCH) 0570-004689-030 3,760,619.45 24,626,808.77

Cash Pharmacy

DBP - La Union (NLUMCH) 0570-004684-030 1,786,919.17P

DBP - La Union (NLUMCH) 0570-004684-080 1,137,743.01

DBP - La Union (NDH) 0570-004679-080 2,005,905.74


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DBP - La Union (BDH) 0570-004634-080 405,564.53

DBP - La Union (RDH) 0570-004702-080 724,106.17

DBP - La Union (CMCH) 0570-012731-080 1,204,010.93 7,264,249.55 87,235,857.53P

B. Cash in Bank - Local Currency, Time Deposits

Fund/Bank Account Number

General Fund Proper

Phil. Postal Savings - LU 0022-002948-142 2,139,341.53P

LBP - Agoo, La Union 1391-1252-24 1,724,899.15 3,864,240.68P

R.A. 7171 Fund

DBP - La Union 0570-07190-014 20,217,229.90P

DBP - La Union 0570-07190-016 30,386,222.10

LBP - La Union 0201-2189-85 5,175,216.02

LBP - Agoo, La Union 1391-1384-23 10,050,862.79

PNB - La Union 1547621406000066 15,396,756.39

PNB - La Union 1547621406000077 10,216,964.33

PNB - La Union 1547621406000088 50,554,033.63

PNB - La Union 1547621406000099 50,344,560.89

Phil. Veterans Bank -LU 03205-000236-7 50,409,876.53

Phil. Postal Savings - LU 0022-002948-151 50,397,745.07 293,149,467.65

Bacnotan District Hospital -Cash Pharmacy

DBP - La Union 0570-830030-608 1,036,295.08 298,050,003.41TOTAL 392,920,562.71P

NOTE 6. RECEIVABLES


1. Receivable Accounts

A. Loans Receivable - Others

General Fund Proper

La Union Vibrant Women, Incorporated, Aringay 50,000.00P

La Union Vibrant Women, Incorporated, Bagulin 47,500.00

La Union Vibrant Women, Incorporated, Bangar 50,000.00

La Union Vibrant Women, Incorporated, Luna 100,000.00

La Union Vibrant Women, Incorporated, San Juan 50,000.00

La Union Vibrant Women, Incorporated, Sudipen 28,150.00

La Union Vibrant Women, Incorporated, Tubao 42,000.00 367,650.00P


Salary Loan granted to various PGLU employees 27,487,914.70 27,855,564.70

2. Inter - Agency Receivables

A. Due from NGAs

General Fund - Proper

COMELEC, LA UNION 1,140,078.00P


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B. Due from LGUs

General Fund - Proper

Agoo 248,088.65P

Aringay 29,944.05

Balaoan 7,182.73

Bangar 5,043.33Bauang 203,542.51

Burgos 3,157.72

Caba 9,795.67

Luna 26,357.96

Naguilian 34,006.14

Pugo 20,786.26

Rosario 118,503.26

San Gabriel 4,596.53

Sudipen 6,102.54

Tubao 7,725.45 724,832.80

C. Due from NGOs/POs

R. A. 7171La Union Beekeepers Development Cooperative 498,760.00P

San Jose Multi-Purpose Cooperative 3,000.00 501,760.00 2,366,670.80P

3. Intra - Agency Receivables

This account pertains to the balance of the Due from Other Funds consisting of the following:

A. Due from Other Funds

General Fund Proper

Trust Fund 86,238.83P

Trust Fund -ILGHZ 874.47

20% Local Development Fund 292,252.81

Loan Assistance Fund 20,000,000.00

Northern La Union Maternity CH 460,659.23Caba Medicare Community Hospital 109,754.20

Bacnotan District Hospital 271,658.21

Naguilian District Hospital 201,178.77

Rosario District Hospital 233,333.35 21,655,949.87P

R. A. 7171

General Fund Proper 36.00

Loan Assistance Fund 5,000,000.00 5,000,036.00

20% Local Development Fund

General Fund Proper 32,127.40

NLUMCH (Cash Pharmacy)

Trust Fund PDAF 8,758.00

NLUMCHGeneral Fund Proper 4,205.00

Naguilian District Hospital


Caba Medicare Community Hospital


Rosario District Hospital


Naguilian District Hospital 61,517.87 85,887.87

Bacnotan District Hospital


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Bacnotan District Hospital (Cash Pharmacy)

Bacnotan District Hospital 217,237.50 27,053,741.64P

4. Other Receivables

General Fund Proper

Metro La Union Water District 1,000.00P

Suppliers and Contractors 62,322.00

Educational Loan Assistance to Employees 10,000.00Retired/Separated Employees 162,691.45 236,013.45


Educational Loan Assistance to Employees 70,000.00

R.A. 7171

Cooperative Bank of La Union 1,670,300.00


Cooperative Insurance System of the Philippines, Inc. 10,310.00 1,986,623.45TOTAL 59,262,600.59P

The Loans Receivable - Others pertains to the outstanding balances of the loan granted by the Provincial Gov't.

of La Union to the La Union Vibrant Women, Incorporated ( LUVWI ) for their livelihood projects.

The salary loan receivable is the outstanding loan balance of borrowers under the PGLU salary loan program.

The Due from NGAs pertains to receivables from COMELEC for the Agoo Special Election in 2001.

The Due from LGUs account represents the share of the PGLU from the RPT collections of various municipalities

of La Union.

The Due from NGOs/POs represents the loan assistance granted to the La Union Beekeepers Development Coop

erative for the Expansion of the La Union Apiculture Development Program of the Province. The Due from San Jose

Multi-Purpose Cooperative represents the balance of the loan extended for the Yellow Corn Subsidy Program fundedunder R.A. 7171 Fund.

The Other Receivable - Cooperative Insurance System of the Phils., Inc. is the commission of PGLU arised from th

loan insurance provided by CISP, Inc.

NOTE 7. INVENTORIES


1. Materials

A. Merchandise Inventory

1. Drugs and MedicinesNorthern La Union Maternity & Children's Hosp. 687,804.92P

Bacnotan District Hospital 2,049,816.70


Caba Medicare & Community Hospital 384,127.88

Rosario District Hospital 1,122,868.10 5,184,850.10P

2. Medical & Laboratory Supplies

Northern La Union Maternity & Children's Hosp. 126,154.26P



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Rosario District Hospital 112,216.09 790,016.76 5,974,866.86P

2. Supplies

General Fund Proper

A. Office Supplies Inventory

Office Supplies 620,778.37PIT Supplies 342,981.43

Electrical Supplies 3,708.96

Office Maintenance Supplies 38,619.73

Printed Forms 75,306.00

Janitorial Supplies 208,642.78

Semi-Expendables 35,561.87 1,325,599.14P

B. Accountable Forms Inventory

Receipts (AF Nos. 51, 52, 53, 54, 56, 57, 58) 186,469.54P

Community Tax Certificates (Individual and Corp.) 222,731.60

Cash Tickets 98,833.96 508,035.10

Hospitals

C. Drugs and Medicine Inventory

Northern La Union Maternity & Children's Hospital 585,928.47P




Rosario District Hospital 380,099.17 3,032,457.21

D. Medical, Dental and Laboratory Supplies Inventory

Northern La Union Maternity & Children's Hosp. 2,800,997.25P



Naguilian District Hospital 1,033,968.23Rosario District Hospital 1,114,668.01 6,503,542.86

R. A. 7171

E. Other Supplies Inventory 1,425,000.00 12,794,634.3118,769,501.17P

TOTAL

The Merchandise Inventory account represents the cost of drugs, medicines, medical and laboratory supplies for

sale in the 24-Hour Cash Pharmacy of the 5 district hospitals of the Provincial Government of La Union.

The Drugs and Medicines Inventory consists of the balances of the drugs and medicines for use in the operation

of the five district hospitals.

The Medical, Dental and Laboratory Supplies Inventory consists of the balances of the drugs and medicines for

use in the operation of the five district hospitals.

Other Supplies Inventory under the R. A. 7171 fund consists of 1,500 (250 ml ) bottles of wonderlube oil to be used

in the maintenance of the agency's heavy equipment and other motor vehicles.


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NOTE 8. PREPAYMENTS

R. A. 7171ARM Construction & Engineering 1,180,479.72P

the construction of Nagsabaran Bridge, San Juan, La Union.

NOTE 9. OTHER CURRENT ASSETS

The Other Current Assets pertains to the Back Pay Certificate of Indebtedness 10,589.99P

NOTE 10. PROPERTY, PLANT & EQUIPMENT


1. Land and Land Improvements

Land 59,826,297.50P

Land Improvements 10,414,704.05P

Less : Accumulated Depreciation 4,461,334.66 5,953,369.39 65,779,666.89P

2. Buildings

Office Buildings 83,292,963.27P

School Buildings 27,394,257.28

Hospitals and Health Centers 24,212,918.71

Other Structures 15,002,268.13

Total 149,902,407.39

Less : Accumulated Depreciation 54,630,037.37 95,272,370.02

3. Office Equipment, Furniture and Fixtures

Office Equipment 7,451,298.88P

Furniture and Fixtures 24,335,296.21

IT Equipment and Software 19,866,051.54Total 51,652,646.63


4. Machineries and Equipment

Machineries 1,851,049.74P

Agricultural, Fishery and Forestry Equipment 3,039,660.00

Communication Equipment 3,504,035.50

Construction and Heavy Equipment 41,167,854.04


Medical, Dental and Laboratory Equipment 8,001,079.50


Technical and Scientific Equipment 2,773,582.00

Other Machineries and Equipment 11,133,902.27Total 120,030,454.05


5. Transportation Equipment

Motor Vehicles 48,625,308.68P

Other Transportation Equipment 17,782,006.44

Total 66,407,315.12


6. Other Property, Plant and Equipment

Other Property, Plant and Equipment 4,885,652.48P

The Prepayment pertains to the 15% mobilization fee advanced by ARM-ASIA Construction and Engineering for


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7. Construction in Progress (CIP)

Agency Assets

Construction in Progress - Agency Assets 24,732,998.77P

Public Infrastructures/Reforestation ProjectsConstruction in Progress - Roads, Highways and Bridges 11,622,396.21P

Const. in Progress - Irrigation, Canals and Laterals 406,129.80

Construction in Progress - Flood Controls 2,657,000.37CIP-Waterways, Aqueducts, Seawalls, River Walls 118,513.82Construction in Progress - Other Public Infrastructures 1,062,023.41 15,866,063.61 40,599,062.38

TOTAL 337,965,738.70P

The Office Building Account consists of the following:

Provincial Capitol Building 3- Storey 26,376,562.34P

General Services Office Building (Property/NHA) 555,000.00

Antonino Hall(Old Library/LBP/POPDEV/Assessor) 1,694,146.79

Mabanag Justice Hall (COMELEC/PESO/Finance) 1,953,161.00

Farmers' Multi-Purpose Building (OPVet), Aguila Road 1,554,111.50

LPP Building 434,765.17

Legislative Building 9,873,558.92

Farmers' Multi Purpose Building (OPAG) 3,714,310.23

PGSO Building (DCC), Capitol 563,541.20

ORT Building 162,000.00

TLDC Building 27,000.00

Session Hall (Phase I & II) 9,839,998.37

Provincial Administrative and Commercial Building 25,231,107.75

Motorpool One-Storey Building 300,000.00

General Services Office (Admin Bldg & Bodega) 1,013,700.00Total 83,292,963.27P

The Hospital and Health Center Account consists of the following:

Northern La Union Maternity And Children's Hospital 5,510,168.18P

Bacnotan District Hospital-Main Building 4,433,662.49

Naguilian District Hospital 4,054,083.57

Caba Medicare & Community Hospital 3,541,989.09

Bacnotan District Hospital Building-Dietary 2,968,448.10

Construction of Administrative Building & Quarters 1,754,818.46

Rosario District Hospital (Main Building) 847,438.92

NLUMCH Doctors' Quarters 643,140.98

Rosario District Hospital (Medicare and Private Bldg) 91,310.37Naguilian District Hospital-Nurses' Quarter 73,095.97

Rosario District Hospital (Dietary Building) 72,146.47

Rosario District Hospital (Family Planning & Dental) 63,920.31

Rosario District Hospital (Laundry) 60,873.58

Naguilian District Hospital-Doctors' Quarter 45,509.94

Rosario District Hospital (Supply & Garage) 37,880.96

Rosario District Hospital (Water Tank/Shed/Electric Generator Bldg) 14,431.3224,212,918.71P

Additions to the Buildings account represents the improvement of the Provincial Population Office, Mabana

Hall Building and Provincial Administrative and Commercial Building.


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The Other Structures Account consists of the following:

Provincial Jail Complex 5,447,400.00P

Construction of Female Cell, Provincial Jail Complex 2,220,349.75Construction of Perimeter Fence of Provincial Motorpool 1,587,500.00

Provincial Canteen 753,937.57

Perimeter Fence of the Female Cell, Provincial Jail 708,299.99

Rehabilitation of Agoo Sta. Rita Fish Farm-1 689,600.00

Construction of Perimeter Fence of Naguilian District Hospital 644,000.01

Construction of Tilapia Fingerlings Production and Distribution Project at Balaoan 497,978.80

Sewer and Water Lines of CMCH 402,500.00

Water Supply System of NLUMCH 401,201.01

Construction of One Unit Goat Shed at the La Union Breeding Station, Agoo 334,465.00

Septic Tank, Naguilian District Hospital 311,500.00

PGLU-DPERF Swine Semen Processing and Artificial Insemination Center 236,200.00

Septic Tank, Provincial Jail 236,100.00

Water Supply System of BDH 234,200.00

Guarhouse at Provincial Motorpool 155,900.00

Shop Room/Store Room of the PEO-Maintenance and Construction Division 141,136.00Total 15,002,268.13P

Unserviceable/Obsolete/Condemned Property, Plant and Equipment were reclassified to Other Asset Account.

The Construction in Progress - Agency Assets pertains to the Construction of the Legislative Building, Provincial

Capitol, San Fernando City.

Increase in the balance of Hospitals and Health Centers account of CMCH pertains to the installation of new

electrical service in order to avoid electrical shortages and breakdowns. This amounted to P307,233.05. Also, a

emergency major repair of the ceiling of the hospital building due to termite infection was undertaken whic

amounted to P84,995.00. Both expenditures were considered capitalizable.

The increase in the balance of the IT Equipment & Software account pertains to the purchase of desktocomputers, laptops, printers and computer accessories for at the different offices of the Provincial Government.

The additions to the Communication Equipment account pertains to the purchase of 6 units of FM transceive

standing wave ratio meter, an amplifier with microphone and fax machines.

The purchase of digital camera and a wide zoom lens increased the balance of Technical and Scientific Equipment

account.

The additions to the Other Structures account pertains to the construction of septic tank at Provincial Jail Complex.

The increase in the balance of the Office Equipment account pertains to the purchase of copier machines, paper

shredder and projectors, cash register.

The purchase of office tables, chairs, whiteboard and cabinets increased the balance of the Furniture & Fixtures.

The Provincial Government bought 2 units motorcycle Toyota Hilux for use at the Provincial Agriculture an

Provincial Engineering Office. Bacnotan District Hospital received an ambulance costing P 950,000.00 from th

Philippine Charity Sweepstakes Office. The Province shouldered P 380,00.00 as its counterpart.


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NOTE 11. OTHER ASSETS


1. Other Assets

General Fund Proper

A. Unserviceable/Fully Depreciated/Obsolete/Condemned Assets

Office Supplies Inventory 470,894.45PAccountable Forms Inventory 90,411.00

Office Building 6,156.00

Office Equipment 510,851.55

Furniture and Fixtures 423,309.50

IT Equipment and Software 651,096.92

Library Books 1,764.52

Machineries 882.28

Agricultural Equipment 5,414.14

Communication Equipment 741,859.94

Construction and Heavy Equipment 312,650.00

Firefighting Accessories 288.48

Hospital Equipment 56,921.42

Medical, Dental and Laboratory Equipment 161,849.77


Technical & Scientific Equipment 4,917.46

Other Machineries and Equipment 627,689.09

Motor Vehicles 1,674,065.31

Other Property, Plant and Equipment 31,633.18 5,814,840.48

B. Forfeited Assets

Bauang Diesel Power Plant (BPPC Aquired Properties) 3,047,327,684.56

Total 3,053,142,525.04

The appraised cost of the Bauang Diesel Power Plant consists of the following:

Particulars PRF No. Amount

A. Buildings

Tower Guardhouse (3 Units) Elevated One (1) Storey Building 029-02028 183,750.00P

Guard House (2 Units) 029-02030 155,040.00

NAPOCOR/MIESCOR/BPPC Maintenance Office One Storey Building 029-02035 5,467,550.00

Electrical Building - One Storey 029-02018 18,000.00

Power Plant Building No. 1, Two (2) Level 029-02021 39,420,000.00



Administration Building, One Storey 029-02029 4,140,000.00

Parking Shed, One Storey 029-02031 260,400.00Firefighting Plant Building 029-02032 633,600.00

Guesthouse, One Storey Building with Eleven (11) Rooms and Eight (8) Toilets 029-02034 3,000,000.00

Heavy Fuel Oil Treatment House 029-02036 1,561,600.00

Total 133,679,940.00P

B. Machineries

Bucayab Pump and Guardhouse Machineries and Equipment 010-00556 9,053,209.39P

Switchyard Equipment 029-02019 159,716,627.62

Water Treatment Plant Machineries and Equipment 029-02020 4,593,497.00


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Power Plant Building No. 1 Machinery and Equipment 029-02024 886,513,685.63



Sludge Treatment Plant Machineries and Equipment 029-02027 18,246,231.84

Firefighting Plant Machineries and Equipment 029-02033 10,785,626.96

Heavy Fuel Oil Treatment House Machinery and Equipment 029-02037 5,948,771.48

Total 2,963,647,744.5PGrand Total 3,097,327,684.5P

The Province has received P 50 million from 1590 Energy Corporation, prospective buyer, as consideration

for the latter's exclusive right to purchase the said BPPC assets as per Interim Agreement, entered into between the

Province and the prospective buyer on July 23, 2010. The said amount forms part of the purchase price in the event

the sale is consummated. It was also stipulated that all payments made by the prospective buyer, as per Interim

Agreement, shall be forfeited in favor of the PGLU, hence, the said 50 million pesos was deducted from the

appraised cost.


Office Equipment 156,111.26P





Other Machineries and Equipment 158,472.10

Other Property, Plant and Equipment 1,845.00 642,382.36P

R.A. 7171

Agricultural Equipment 32,200.00





Hospital Equipment 315,523.39Medical, Dental and Laboratory Equipment 11,545.00

Other Machineries and Equipment 26,771.85 368,080.86





Machineries 5,880.00




Other Machineries and Equipment 33,820.39 261,461.81








Other Machineries and Equipment 44,350.00 1,671,939.27


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Medical, Dental and Laboratory Equipment 29,014.00Other Machineries and Equipment 44,685.10 192,102.51

NLUMCH







Other Machineries and Equipment 9,313.33 236,192.55TOTAL 3,056,546,884.40P

The Other Assets Account represents the balances of unserviceable, condemned property, plant and equipment

and obsolete inventories.

NOTE 12. CURRENT LIABILITIES


1. Payable Accounts

A. Accounts Payable

Suppliers/Contractors 29,962,339.29P

Other Creditors 810,797.56 30,773,136.85P

B. Due to Officers & Employees

Salaries and Wages 225,470.87P

Terminal Pay 1,685,221.06

Other Expenditures 922,807.87 2,833,499.80 33,606,636.65P

2. Inter - Agency Payables

A. Due to BIR 2,718,337.60P

B. Due to GSIS 3,967,095.36P

C. Due to PAG-IBIG 706,545.54P

D. The Due to PHILHEALTH 262,537.70P

E. Due to Other NGAs

Department of Budget and Management 21,521.13P

National Printing Office 511,000.00 532,521.13


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F. Due to LGUs

1. Share from Amusement Tax & Tax on Sand, Gravel & Quarry Products

Agoo 30,660.00P

Aringay 37,605.22

Bacnotan 750.00

Balaoan 8,400.00Bagulin 42.00

Bangar 262,450.50

Bauang 198,097.98

Burgos 26,306.00

San Fernando City 700.00

Luna 88,598.55

Naguilian 325,857.54

Pugo 113,570.48

Rosario 507,535.76

Sto.Tomas 550.00

Sudipen 357,118.86

Tubao 58,305.00 2,016,547.89P

2. BPPC Acquired Properties

Bauang 1,034,398,199.30P

Payocpoc Sur, Bauang 287,332,833.14 1,321,731,032.44

3. Financial Assistance/Provincial Aid

Agoo 4,000.00P

Aringay 9,000.00

Bacnotan 188,000.00

Balaoan 44,000.00

Bangar 172,000.00

Bauang 144,000.00Burgos 24,000.00

Caba 70,000.00

San Fernando City 34,500.00

Luna 83,000.00

Naguilian 50,000.00

Pugo 16,000.00

Rosario 132,000.00

San Gabriel 70,000.00

San Juan 174,000.00

Santol 25,000.00

Sto.Tomas 48,000.00

Tubao 10,000.00 1,297,500.00 1,325,045,080.33 1,333,232,117.66P

3. Intra - Agency Payables

This account consists of the balances of the Due to Other Funds Account.

General Fund - Properun mount

Special Education Fund 574,666,437.17P

Trust Fund 232,392.53


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20% Local Development Fund 32,127.40

Rosario District Hospital 24,370.00

Northern La Union Maternity Childrens' Hospital 4,205.00

Caba Medicare and Community Hospital 2,120.00


R.A. 7171 Fund 36.00 575,009,108.10P




General Fund Proper 20,000,000.00P

R.A. 7171 5,000,000.00 25,000,000.00

Northern La Union Maternity Hospital



BDH- Cash Pharmacy 142,335.50P

General Fund Proper 271,658.21 413,993.71


General Fund Proper 201,178.77P

Rosario District Hospital 61,517.87 262,696.64




General Fund Proper 233,333.35 601,781,798.04P

4. Other Liability Accounts

A. Other Payable Account

M.M. Lazaro And Associates 774,331,921.14P

Health Development Fund 11,020,853.74

Employee Bank/Cooperative Loans 2,231,703.85

Devolved Hospitals 1,593,263.40

Bauang Private Power Plant 1,089,576.30

Sagayad Resettlement Program 185,254.19

Financial Assistance For Typhoon Victims 150,000.00

Educational Loan Assistance 144,400.08

Thunderbird Pilipinas Hotels and Resorts 100,000.00

Rehabilitation/Reconstruction/Infrastructure Fund 65,859.04Local Water Utilities Administration-Lingap Fund 45,800.00

La Union Water District 10,000.00

Cooperative Insurance System of The Philippines 8,630.00

Municipal Disaster Fund for Trainers' Training 7,037.50

Department of Energy 5,147.44

Various 4,302.33

159Th La Union Foundation Anniversary-Executive Committee 1,000.00 790,994,749.01PTOTAL 2,759,615,301.36P


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The Accounts Payable-Suppliers/Contactors represents obligations for completed and on-going Public Infrastructure

and agency projects, purchases of equipment, motor vehicles, office supplies, gasoline, drugs and medicines, medical

and laboratory supplies, telephone expenses, utilities, repairs of motor vehicles and equipment, subscription expenses

furniture, medals, trophies, meals and purchases of sports equipment to be distributed to requesting barangays.

The Accounts Payable - Others represents financial assistances to LGUs, donations given to associations and othepeoples' organizations, financial assistance to scholars and medical assistances to indigents.

The Due to Officers and Employees - Others represents unclaimed traveling and training expenses, reimburseme

for gasoline and other utilities paid.

The Due to Other NGAs includes Countryside Development Funds (CDF) from Congressmen of the Province a

various Senators.

The Due to LGUs Account - Financial/Provincial Aid represents those unclaimed financial assistance of barangay

city and municipalities of La Union.

The Due to Other Funds - Special Education Fund pertains to the share of the PGLU from the value of the forfeited

Bauang Private Power Plant Corporation (BPPC) machineries and equipment. The said assets were appraised by the

Commission on Audit in the total amount of P3,097,327,685.00.

The Other Payable Account - M.M. Lazaro and Associates pertains to the professional fee (contingent fees) for the

retainership contract for professional legal services in representing the Provincial Government of La Union in the Civi

Case No. 58-BG which was filed before RTC Branch 33, Bauang, La Union. The said case pertains to the Tax

Assessment made by the Municipal Assessor of Bauang over the machineries and equipment of the Bauang Private

Power Plant Corporation (BPPC). The case reached the Supreme Court and the PGLU won as per decision in

G.R. No.171470, promulgated on January 30, 2009. The retainership contract was approved by the Office of the

Solicitor General and of the Commission on Audit. The total amount of professional fee of the lawyers as per SP

Resolution No. 366-2006, dated November 09, 2006 is 25% of the adjudicated amount. No acceptance fees were

collected by M.M. Lazaro and Associates.

The Other Payable - Devolved Hospitals consists of the balances of the affiliation fees, capitation fund and PHIC

Honoraria of the five district hospitals, broken down as follows:

Hospital Fund For MOOE (10%) 485,982.60P

PHIC Honorarium 381,540.00

Hospital Fund For Capital Outlay (10%) 296,360.93

Employees Share (75%) 229,900.50

General Fund (5%) 109,647.80

Hospital Fund For MOOE (90%) 42,467.32

PHIC Deposit 41,578.00

Employees Share (10%) 4,856.25GSIS Remuneration 930.00Total 1,593,263.40P

The Other Payable-Health Development Fund represents the accumulated earnings of the 24-Hour Cash Pharmacy

of the district hospitals, broken down as follows:

Northern La Union Maternity and Children's Hospital 3,086,426.04P

Naguilian District Hospital 2,688,527.94

Bacnotan District Hospital 2,467,763.86


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Rosario District Hospital 1,410,846.36

Caba Medicare And Community Hospital 1,367,289.54Total 11,020,853.74P

NOTE 13. LONG-TERM LIABILITIES

The Loans Payable-Domestic Account pertains to the following:

1. 10 Year Term - Loan with LBP for the construction of the 5-storey administrative and

commercial building released under PN Nos. 2001-3270, 2001-3318 and 2001-3413 on

August 20, 2001 November 22, 2001 and June 19, 2002 in the amounts of P5,000,000.00,

P 10,000,000.00 and P5,000,000.

Documents

Financial Statements_as of December 31, 2010