Republic of the Philippines

WEST VISAYAS STATE UNIVERSITY

La Paz, Iloilo City

STATEMENT OF FINANCIAL POSITION

ALL FUNDS
AS AT DECEMBER 31, 2021

Note 2021 2020

ASSETS
Current Assets
Cash and Cash Equivalents 6 1,331,262,653.35 1,328,603,119.94
Receivables 8 93,459,441.86 81,448,821.15
Inventories 9 52,255,659.17 59,980,570.82
Total Current Assets 1,476,977,754.38 1,470,032,511.91

Non-Current Assets
Investments 7 18,800.00 18,800.00
Property, Plant and Equipment 11 2,212,962,350.00 2,191,506,498.04
Biological Assets 12 911,747.50 812,877.50
Intangible Assets 13 15,864,493.31 14,997,504.81
Receivables 8 12,550,520.32 0.00
Other Assets 14 26,617,136.97 11,795,272.04
Total Non-Current Assets 2,268,925,048.10 2,219,130,952.39
TOTAL ASSETS 3,745,902,802.48 3,689,163,464.30

LIABILITIES
Current Liabilities
Financial Liabilities 15 140,122,708.33 251,772,265.81
Inter-Agency Payables 16 117,226,938.78 113,573,518.55
Intra-Agency Payables 37,192.00 161,920.00
Trust Liabilities 17 54,735,312.56 59,135,402.51
Other Payables 20 235,792,465.44 255,198,325.21
Total Current Liabilities 547,914,617.11 679,841,432.08
TOTAL LIABILITIES 547,914,617.11 679,841,432.08

Total Assets less Total Liabilities 3,197,988,185.37 3,009,322,032.22

NET ASSETS/EQUITY
Accumulated Surplus/(Deficit) 3,197,988,185.37 3,009,322,032.22
Total Net Assets/Equity 3,197,988,185.37 3,009,322,032.22

5
 DETAILED STATEMENT OF FINANCIAL POSITION
ALL FUNDS
AS AT DECEMBER 31, 2021

2021 2020
ASSETS
Current Assets

Cash and Cash Equivalents 1,331,262,653.35 1,328,603,119.94

Cash on Hand 26,266,207.23 15,358,130.51

Cash - Collecting Officer 26,236,207.23 15,357,187.51
Petty Cash 30,000.00 943.00

Cash in Bank - Local Currency 1,304,780,548.98 1,313,040,778.32

Cash in Bank - Local Currency, Current Account 1,241,178,087.27 1,249,438,675.71
Cash in Bank - Local Currency, Savings Account 2,218.31 1,859.21
Cash in Bank - Local Currency, Time Deposits 63,600,243.40 63,600,243.40

Cash in Bank - Foreign Currency 215,897.14 204,211.11

Cash in Bank - Foreign Currency, Savings Account 215,897.14 204,211.11

Receivables 93,459,441.86 81,448,821.15

Loans and Receivable Accounts 82,470,181.56 69,977,058.54

Accounts Receivable 82,491,644.44 102,885,729.82
Allowance for Impairment - Accounts Receivable -1,238,025.88 -34,236,739.28
Notes Receivable 0.00 0.00
Loans Receivable - Others 1,216,563.00 1,328,068.00

Inter-Agency Receivables 3,514,805.62 3,514,805.62

Due from National Government Agencies 3,470,212.60 3,470,212.60
Due from Local Government Units 44,593.02 44,593.02

Intra-Agency Receivables 0.00 161,920.00

Due from Other Funds 0.00 161,920.00
Others Receivables 7,474,454.68 7,795,036.99
Receivables - Disallowances/Charges 7,054,920.13 7,327,298.48
Due from Officers and Employees 8,879.56 8,068.00
Other Receivables 410,654.99 459,670.51
Inventories 52,255,659.17 59,980,570.82

Inventory Held for Consumption 51,497,759.17 59,597,064.82

Office Supplies Inventory 1,733,569.79 9,153,211.82
Accountable Forms, Plates and Stickers Inventory 769,084.60 2,994,064.60
Non-Accountable Forms Inventory 0.00 0.00
Animal/Zoological Supplies Inventory 2,098,828.50 1,315,130.00
Food Supplies Inventory 334,160.00 305,060.00
Drugs and Medicines Inventory 7,650,752.54 8,270,716.99
Medical, Dental and Laboratory Supplies Inventory 33,673,588.44 29,141,866.97
Fuel, Oil and Lubricants Inventory 66,216.89 22,532.99
Agricultural and Marine Supplies Inventory 76,635.00 12,280.00
Textbooks and Instructional Materials Inventory 879,335.00 561,710.00
Military, Police and Traffic Supplies Inventory 0.00 0.00
Construction Materials Inventory 83,283.00 0.00
Other Supplies and Materials Inventory 4,132,305.41 7,820,491.45

6
 2021 2020
Semi-Expendable Machinery and Equipment 0.00 50,856.00
Semi-Expendable Information and Communications Technology
Equipment 0.00 41,000.00
Semi-Expendable Medical Equipment 0.00 9,856.00

Semi-Expendable Furniture, Fixtures and Books 757,900.00 332,650.00

Semi-Expendable Furniture and Fixtures 757,900.00 332,650.00
Semi-Expendable Books 0.00 0.00
Total Current Assets 1,476,977,754.38 1,470,032,511.91

Non-Current Assets
Investments 18,800.00 18,800.00
Financial Assets-Others 18,800.00 18,800.00
Other Investments 18,800.00 18,800.00

Property, Plant and Equipment 2,212,962,350.00 2,191,506,498.04

Buildings and Other Stuctures 1,002,879,444.24 1,023,425,449.81

Buildings 85,246,344.25 82,897,214.86
Accumulated Depreciation - Buildings -4,494,778.14 -2,945,061.78
School Buildings 837,573,283.23 836,803,199.36
Accumulated Depreciation - School Buildings -159,348,281.05 -145,961,066.38
Hospitals and Health Centers 290,365,484.69 289,620,489.29
Accumulated Depreciation - Hospitals and Health Centers -82,729,828.74 -72,223,597.42
Hostels and Dormitories 14,331,733.24 14,331,733.24
Accumulated Depreciation - Hostels and Dormitories -7,458,382.97 -7,458,382.97
Other Structures 40,956,159.70 39,292,795.49
Accumulated Depreciation - Other Structures -11,562,289.97 -10,931,873.88

Construction in Progress 201,834,208.34 151,900,024.59

Construction in Progress - Infrastructure Assets 0.00 0.00
Construction in Progress-Buildings and Other Structures 201,834,208.34 151,900,024.59

Heritage Assets 140,450.00 120,450.00

Works of Arts and Archeological Specimens 140,450.00 120,450.00

Furniture, Fixtures and Books 34,491,611.64 38,793,741.03

Furniture and Fixtures 43,801,900.83 44,076,870.42
Accumulated Depreciation - Furniture and Fixtures -24,546,164.43 -23,293,452.69
Books 22,244,067.78 25,037,983.53
Accumulated Depreciation - Books -7,008,192.54 -7,027,660.23

Infrastructure Assets 32,324,270.82 27,629,019.33

Water Supply Systems 7,613,997.05 7,613,997.05
Accumulated Depreciation - Water Supply Systems -2,297,764.63 -1,381,490.84
Power Supply Systems 37,358,827.94 28,908,874.01
Accumulated Depreciation - Power Supply Systems -10,350,789.54 -7,512,360.89

Land 273,408,558.18 273,408,558.18

Land 273,408,558.18 273,408,558.18

Land Improvements 15,327,375.90 18,958,524.85

Other Land Improvements 29,086,322.82 26,324,965.70
Accumulated Depreciation - Other Land Improvements -13,758,946.92 -7,366,440.85

Machinery and Equipment 626,646,540.14 626,502,748.22

Machinery 5,386,919.85 5,434,204.85
Accumulated Depreciation - Machinery -5,212,892.57 -5,280,827.57
Office Equipment 62,326,751.47 65,933,768.63
Accumulated Depreciation - Office Equipment -34,942,452.47 -28,438,269.07
Information and Communication Technology Equipment 222,649,770.89 202,968,923.32
Accumulated Depreciation - Information and Communication
Technology Equipment -96,578,816.07 -78,336,323.60
Agricultural and Forestry Equipment 2,260,484.55 1,610,684.55

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 2021 2020
Accumulated Depreciation - Agricultural and Forestry -553,757.98 -453,242.67
Equipment
Communication Equipment 11,525,346.80 11,557,248.00
Accumulated Depreciation - Communication Equipment -7,068,097.45 -6,817,743.26
Construction and Heavy Equipment 316,950.00 435,950.00
Accumulated Depreciation - Construction and Heavy Equipment -290,652.50 -339,292.50
Disaster Response and Rescue Equipment 1,326,677.00 1,326,677.00
Accumulated Depreciation - Disaster Response and Rescue
Equipment -519,709.89 -712,481.19
Military, Police and Security Equipment 5,169,652.30 5,181,652.30
Accumulated Depreciation - Military, Police and Security
Equipment -1,437,988.81 -974,909.15
Medical Equipment 567,130,312.41 528,275,723.71
Accumulated Depreciation - Medical Equipment -168,762,690.83 -145,122,684.78
Printing Equipment 0.00 0.00
Accumulated Depreciation - Printing Equipment 0.00 0.00
Sports Equipment 893,447.00 893,447.00
Accumulated Depreciation - Sports Equipment -319,418.51 -213,295.02
Technical and Scientific Equipment 4,729,731.00 4,474,429.00
Accumulated Depreciation - Technical and Scientific Equipment -2,127,762.16 -1,542,180.49
Other Machinery and Equipment 111,822,391.19 104,141,792.62
Accumulated Depreciation - Other Machinery and Equipment -51,077,655.08 -37,500,503.46

Other Property, Plant, and Equipment 1,897,410.79 3,450,212.10

Work/Zoo Animals 157,100.00 157,100.00
Other Property, Plant and Equipment 6,473,530.60 10,550,248.67
Accumulated Depreciation - Other Property, Plant and
Equipment -4,733,219.81 -7,257,136.57

Transportation Equipment 24,012,479.95 27,317,769.93

Motor Vehicles 43,507,623.81 42,102,457.13
Accumulated Depreciation - Motor Vehicles -20,216,002.35 -15,505,545.69
Watercrafts 720,858.49 720,858.49
Other Transportation Equipment 0.00 0.00
Accumulated Depreciation - Other Transportation Equipment 0.00 0.00

Biological Assets 911,747.50 812,877.50

Bearer Biological Assets 911,747.50 812,877.50

Breeding Stocks 911,747.50 812,877.50
Accumulated Impairment Losses - Breeding Stocks 0.00 0.00

Intangible Assets 15,864,493.31 14,997,504.81

Construction in Progress 5,691,526.85 0.00

Computer Software 6,000,000.00 0.00
Accumulated Amortization - Computer Software -308,473.15 0.00

Intangible Assets 9,881,994.21 14,706,532.56

Computer Software 10,947,128.63 15,697,128.63
Accumulated Amortization - Computer Software -1,065,134.42 -990,596.07

Development in Progress 290,972.25 290,972.25

Development in Progress - Computer Software 290,972.25 290,972.25

Receivables
Loans and Receivable Accounts 12,550,520.32 0.00
Accounts Receivable 49,054,660.83 0.00
Allowance for Impairment - Accounts Receivable -36,504,140.51 0.00

Other Assets 26,617,136.97 11,795,272.04

Advances 4,885,686.93 269,716.80

Advances for Payroll 1,140,515.63 0.00
Advances to Special Disbursing Officer 3,745,171.30 269,716.80
Advances to Officers and Employees 0.00 0.00

8
 2021 2020

Deposits 1,918,198.00 1,854,388.00

Guaranty Deposits 1,918,198.00 1,854,388.00

Other Assets 835,325.74 1,179,582.70

Other Assets 835,325.74 1,219,306.00
Accumulated Impairment Losses - Other Assets 0.00 -39,723.30

Prepayments 18,977,926.30 8,491,584.54

Advances to Contractors 18,899,457.50 8,352,203.33
Prepaid Insurance 39,197.38 100,109.79
Other Prepayments 39,271.42 39,271.42
Total Non-Current Assets 2,268,925,048.10 2,219,130,952.39

TOTAL ASSETS 3,745,902,802.48 3,689,163,464.30

LIABILITIES

Current Liabilities

Financial Liabilities 140,122,708.33 251,772,265.81

Payables 140,122,708.33 251,772,265.81

Accounts Payable 139,090,273.78 250,927,295.58
Due to Officers and Employees 1,032,434.55 844,970.23

Inter-Agency Payables 117,226,938.78 113,573,518.55

Due to BIR 18,805,235.56 5,998,870.32
Due to GSIS 474,516.94 184,569.63
Due to Pag-IBIG 144,447.09 48,416.44
Due to PhilHealth 208,044.97 86,661.69
Due to NGAs 97,273,187.95 106,891,144.20
Due to GOCCs 64,239.69 106,589.69
Due to LGUs 257,266.58 257,266.58

Intra-Agency Payables 37,192.00 161,920.00

Due to Operating Units 37,192.00 0.00
Due to Other Funds 0.00 161,920.00

Trust Liabilities 54,735,312.56 59,135,402.51

Guaranty/Security Deposits Payable 54,735,312.56 59,135,402.51

Deferred Credits/Unearned Income 0.00 0.00

Other Deferred Credits 0.00 0.00

Other Payables 235,792,465.44 255,198,325.21

Other Payables 235,792,465.44 255,198,325.21
Other Payables 235,792,465.44 255,198,325.21
Total Current Liabilities 547,914,617.11 679,841,432.08

Total Liabilities 547,914,617.11 679,841,432.08

Total Assets less Total Liabilities 3,197,988,185.37 3,009,322,032.22

Net Assets/Equity
Government Equity
Accumulated Surplus/(Deficit) 3,197,988,185.37 3,009,322,032.22

Total Net Assets/Equity 3,197,988,185.37 3,009,322,032.22

9
 Republic of the Philippines
WEST VISAYAS STATE UNIVERSITY
La Paz, Iloilo City

STATEMENT OF FINANCIAL PERFORMANCE

ALL FUNDS
FOR THE YEAR ENDED DECEMBER 31, 2021

Note 2021 2020

Revenue
Service and Business Income 22 745,449,852.15 691,698,119.62
Shares, Grants and Donations 23 212,060.00 608,910.50
Gains 12 7,150.00 66,133.00

Total Revenue 745,669,062.15 692,373,163.12

Less: Current Operating Expenses

Personnel Services 24 1,368,271,014.20 1,184,443,775.84
Maintenance and Other Operating Expenses 25 575,924,798.41 615,699,162.28
Financial Expenses 26 18,137.71 28,824.48
Non-Cash Expenses 27 113,030,453.81 95,861,887.30

Total Current Operating Expenses 2,057,244,404.13 1,896,033,649.90

Surplus/(Deficit) from Current Operations -1,311,575,341.98 -1,203,660,486.78

Net Financial Assistance/Subsidy 28 1,512,254,395.51 1,329,521,624.19

Sale of Assets 29 624,745.00 200.00
Gains 29 2,511,482.54 3,259,674.02
Losses 29 -229,492.01 -231,538.09

Surplus/(Deficit) for the period 203,585,789.06 128,889,473.34

10
 Republic of the Philippines
WEST VISAYAS STATE UNIVERSITY
La Paz, Iloilo City

DETAILED STATEMENT OF FINANCIAL PERFORMANCE

ALL FUNDS
FOR THE YEAR ENDED DECEMBER 31, 2021

2021 2020
Revenue
Service and Business Income
Service Income
Other Service Income 1,167,168.86 0.00
Total Service Income 1,167,168.86 0.00

Business Income
School Fees 148,673,987.66 181,155,002.60
Affiliation Fees 368,250.00 246,500.00
Seminar/Training Fees 0.00 121,900.00
Rent/Lease Income 1,079,649.60 164,306.09
Communication Network Fees 0.00 0.00
Income from Hostels/Dormitories and Other Like Facilities 552,980.00 831,610.00
Income from Printing and Publication 14,114,380.63 38,000,342.56
Sales Revenue 176,115,994.67 164,514,126.82
Hospital Fees 213,626,836.50 163,765,891.75
Cost of Sales -145,287,018.52 -159,752,859.56
Interest Income 217,658.37 713,595.54
Fines and Penalties - Business Income 12,093.52 45,376.35
Other Business Income 334,807,870.86 301,892,327.47
Total Business Income 744,282,683.29 691,698,119.62

Shares, Grants and Donations

Grants and Donations
Income from Grants and Donations in Cash 0.00 0.00
Income from Grants and Donations in Kind 212,060.00 608,910.50
Total Shares, Grants and Donations 212,060.00 608,910.50

Gains
Gain on Initial Recognition of Biological Assets 6,750.00 3,000.00
Gain from Changes in Fair Value Less Cost to Sell of Biological
Assets Due to Physical Change 400.00 5,300.00
Gain from Changes in Fair Value Less Cost to Sell of Biological
Assets Due to Price Change 0.00 57,833.00
Total Gains 7,150.00 66,133.00

Total Revenue 745,669,062.15 692,373,163.12

Less: Current Operating Expenses

Personnel Services
Salaries and Wages
Salaries and Wages - Regular 762,327,734.00 745,643,597.87
Salaries and Wages - Casual/Contractual 26,350,162.53 20,277,894.02
Total Salaries and Wages 788,677,896.53 765,921,491.89

Other Compensation
Personal Economic Relief Allowance (PERA) 37,800,379.88 37,401,606.51
Representation Allowance (RA) 2,185,421.00 2,071,098.75
Transportation Allowance (TA) 2,043,625.00 1,898,750.00
Clothing/Uniform Allowance 9,531,000.00 9,454,200.00
Quarters Allowance 4,800.00 3,000.00

11
 2021 2020
Productivity Incentive Allowance 1,430,000.00 1,745,000.00
Honoraria 43,908,440.73 18,987,637.92
Hazard Pay 74,260,472.50 63,675,288.22
Longevity Pay 10,535,340.01 8,896,276.34
Overtime and Night Pay 7,139,615.09 7,081,586.56
Other Bonuses and Allowances 91,740,416.97 51,846,140.00
Subsistence Allowance 12,199,330.22 10,954,462.77
Laundry Allowance 1,364,630.04 1,225,187.46
Year End Bonus - Civilian 105,274,227.45 122,859,867.70
Cash Gift - Civilian 7,998,250.00 7,684,750.00
Mid-Year Bonus 17,151,587.00 0.00
Total Other Compensation 424,567,535.89 345,784,852.23

Personnel Benefit Contributions

Retirement and Life Insurance Premiums 92,549,005.19 26,240,071.83
Pag-IBIG Contributions 2,229,614.52 2,151,229.30
PhilHealth Contributions 9,973,306.37 9,211,065.68
Employees Compensation Insurance Premiums 1,898,333.86 1,905,216.19
Total Personnel Benefit Contributions 106,650,259.94 39,507,583.00

Other Personnel Benefits

Terminal Leave Benefits 20,103,287.40 19,919,351.96
Other Personnel Benefits 28,272,034.44 13,310,496.76
Total Other Personnel Benefits 48,375,321.84 33,229,848.72

Total Personnel Services 1,368,271,014.20 1,184,443,775.84

Maintenance and Other Operating Expenses

Traveling Expenses
Traveling Expenses - Local 840,069.22 3,664,694.84
Traveling Expenses - Foreign 23,190.00 0.00
Total Traveling Expenses 863,259.22 3,664,694.84

Training and Scholarship

Training Expenses 8,438,720.45 5,550,966.98
Scholarship Grants/Expenses 1,118,768.07 906,597.01
Total Training and Scholarship Expenses 9,557,488.52 6,457,563.99

Supplies and Materials Expenses

Office Supplies Expenses 17,939,714.82 23,808,450.93
Accountable Forms Expenses 2,456,448.60 2,158,622.40
Non-Accountable Forms Expenses 161,147.20 0.00
Animal/Zoological Supplies Expenses 1,867,847.00 1,195,032.50
Food Supplies Expenses 8,846,224.44 8,524,825.48
Welfare Goods Expenses 0.00 0.00
Drugs and Medicines Expenses 30,775,892.47 19,036,894.37
Medical, Dental and Laboratory Supplies Expenses 135,546,617.40 184,619,413.36
Fuel, Oil and Lubricants Expenses 2,641,502.06 2,299,098.70
Agricultural and Marine Supplies Expenses 362,088.00 418,635.00
Textbooks and Instructional Materials Expenses 1,750,936.00 3,120,010.34
Semi Expendable Books Expenses 0.00 433,800.00
Semi-Expendable Machinery and Equipment Expenses 362,125.00 28,789,082.00
Semi Expendable Office Equipment Expenses 0.00 0.00
Semi Expendable Information and Communications Technology
Equipment Expenses 208,150.00 356,967.00
Semi Expendable Communications Equipment Expenses 0.00 0.00
Semi Expendable Medical Equipment Expenses 0.00 600,026.25
Semi Expendable Other Machinery and Equipment Expenses 118,690.00 0.00
Semi-Expendable Furniture, Fixtures and Books Expenses 6,005,022.64 5,602,725.69
Semi Expendable Furniture and Fixture Expenses 57,760.00 0.00
Other Supplies and Materials Expenses 26,518,176.26 20,320,921.32
Total Supplies and Materials Expenses 235,618,341.89 301,284,505.34

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 2021 2020
Utility Expenses
Water Expenses 10,938,038.68 9,746,993.47
Electricity Expenses 38,956,541.63 46,941,531.25
Total Utility Expenses 49,894,580.31 56,688,524.72

Communication Expenses
Postage and Courier Services 5,519,124.38 5,284,660.85
Telephone Expenses 3,073,029.88 3,181,412.05
Internet Subscription Expenses 7,876,033.75 4,456,170.23
Cable, Satellite, Telegraph and Radio Expenses 89,878.65 96,623.00
Total Communication Expenses 16,558,066.66 13,018,866.13

Awards/Rewards and Prizes

Awards/Rewards Expenses 1,246,499.99 92,433.01
Prizes 0.00 0.00
Total Awards/Rewards and Prizes 1,246,499.99 92,433.01

Survey, Research, Exploration and Development Expenses

Survey Expenses 877,225.00 0.00
Total Survey, Research, Exploration and Development Expenses 877,225.00 0.00

Confidential,Intelligence and Extraordinary Expenses

Extraordinary and Miscellaneous Expenses 180,000.00 180,000.00
Total Confidential, Intelligence and Extraordinary Expenses 180,000.00 180,000.00

Professional Services
Legal Services 545,982.00 433,067.00
Auditing Services 50,179.17 76,467.23
Consultancy Services 4,287,964.00 1,213,500.00
Other Professional Services 75,910,853.07 55,932,848.41
Total Professional Services 80,794,978.24 57,655,882.64

General Services
Environment/Sanitary Services 3,904,968.02 198,273.30
Janitorial Services 10,095,902.87 11,689,958.37
Security Services 14,521,677.12 13,494,082.29
General Services 16,450.00 27,894.00
Other General Services 82,141,462.23 79,523,201.59
Total General Services 110,680,460.24 104,933,409.55

Repairs and Maintenance

Repairs and Maintenance - Infrastructure Assets 0.00 0.00
Repairs and Maintenance - Buildings and Other Structures 1,387,752.43 4,087,828.11
Repairs and Maintenance - Machinery and Equipment 14,618,300.64 5,435,952.21
Repairs and Maintenance - Transportation Equipment 968,717.86 934,444.46
Repairs and Maintenance - Furniture and Fixtures 249,550.00 6,000.00
Repairs and Maintenance - Other Property, Plant and Equipment 348,564.59 40,030.00
Total Repairs and Maintenance 17,572,885.52 10,504,254.78

Taxes, Insurance, Premiums and Other Fees

Taxes, Duties and Licenses 272,179.12 194,549.63
Fidelity Bond Premiums 812,687.25 606,627.00
Insurance Expenses 3,950,429.25 3,419,946.00
Total Taxes, Insurance Premiums and Other Fees 5,035,295.62 4,221,122.63

Other Maintenance and Operating Expenses

Advertising Expenses 723,520.00 118,564.00
Printing and Publication Expenses 5,912,681.84 32,441,763.53
Representation Expenses 2,712,938.65 2,377,390.52
Transportation and Delivery Expenses 30,574.00 34,817.00
Rent/Lease Expenses 3,789,810.00 1,213,531.00
Membership Dues and Contributions to Organizations 474,430.00 270,573.07
Subscription Expenses 12,135,163.22 2,376,899.41

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 2021 2020
Donations 0.00 0.00
Other Maintenance and Operating Expenses 21,266,599.49 18,164,366.12
Total Other Maintenance and Other Operating Expenses 47,045,717.20 56,997,904.65

Total Maintenance and Other Operating Expenses 575,924,798.41 615,699,162.28

Financial Expenses
Financial Expenses
Bank Charges 8,390.53 26,794.48
Bank Transaction Fee 9,747.18 2,030.00
Total Financial Expenses 18,137.71 28,824.48

Non-Cash Expenses
Depreciation
Depreciation - Land Improvements 968,307.75 960,837.90
Depreciation - Infrastructure Assets 2,649,316.24 1,883,980.77
Depreciation - Infrastructure Assets - Power Supply Systems 290,655.89 47,445.06
Depreciation - Buildings and Other Structures 32,529,200.54 23,002,983.52
Depreciation - Buildings and Other Structures - Buildings 163,368.15 55,136.59
Depreciation - Buildings and Other Structures- School Buildings 484,565.33 0.00
Depreciation - Buildings and Other Structures - Other Structures 276,484.03 0.00
Depreciation - Machinery and Equipment 34,160,697.71 57,566,120.80
Depreciation - Machinery and Equipment - Machinery 0.00 0.00
Depreciation - Machinery and Equipment -Office Equipment 690,290.88 50,086.80
Depreciation - Machinery and Equipment - ICT Equipment 1,587,552.91 83,320.60
Depreciation - Machinery and Equipment - Communication
Equipment 19,072.80 0.00
Depreciation - Machinery and Equipment - Construction and Heavy
Equipment 25,410.00 0.00
Depreciation - Machinery and Equipment - Medical Equipment 21,331,941.65 24,938.27
Depreciation - Machinery and Equipment - Other Machinery and
Equipment 5,449,613.79 20,189.44
Depreciation - Transportation Equipment 3,308,003.19 2,541,521.82
Depreciation - Transportation Equipment - Motor Vehicles 59,142.86 1,501,678.57
Depreciation - Furniture, Fixtures and Books 3,302,087.82 2,972,806.55

Depreciation - Furniture, Fixtures and Books - Furnitures and Fixtures 578,033.52 480,955.95
Depreciation - Other Property, Plant and Equipment 1,247,850.14 464,554.04
Total Depreciation 109,121,595.20 91,656,556.68

Amortization
Amortization - Intangible Assets 383,011.50 390,707.50

Impairment Loss
Impairment Loss - Loans and Receivables 3,505,427.11 2,400,156.48
Impairment Loss - Property, Plant and Equipment 0.00 81,247.84
Impairment Loss - Other Assets 0.00 1,333,218.80
Total Impairment Loss 3,505,427.11 3,814,623.12

Losses
Loss on Sale of Biological Assets 20,420.00 0.00
Total Losses 20,420.00 0.00

Total Non-Cash Expenses 113,030,453.81 95,861,887.30

Current Operating Expenses 2,057,244,404.13 1,896,033,649.90

Surplus (Deficit) from Current Operations -1,311,575,341.98 -1,203,660,486.78

Financial Assistance/Subsidy from NGAs, LGUs, GOCCs

Subsidy from National Government 1,512,254,395.51 1,329,521,624.19
Subsidy from other NGAs 1,025,168,369.00 852,602,855.00
Total Financial Assistance/Subsidy from NGAs, LGUs, GOCCs 2,537,422,764.51 2,182,124,479.19

14
 2021 2020

Less: Financial Assistance/Subsidy to NGAs, LGUs, GOCCs, NGOs/POs

Financial Assistance to NGAs 0.00 0.00
Assistance to Other National Government Agencies 1,025,168,369.00 852,602,855.00
Total Financial Assistance/Subsidy to NGAs, LGUs, GOCCs 1,025,168,369.00 852,602,855.00

Net Financial Assistance/Subsidy 1,512,254,395.51 1,329,521,624.19

Other Non-Operating Income

Sale of Assets
Sale of Unserviceable Property 624,745.00 200.00
Total Sale of Assets 624,745.00 200.00

Gains
Miscellaneous Income 2,511,482.54 3,259,674.02
Total Gains 2,511,482.54 3,259,674.02

Losses
Loss of Assets 0.00 12,219.09
Loss on Sale of Property, Plant and Equipment 54,612.01 0.00
Other Losses - Loss from Changes in Fair Value Less Costs to Sell of
Biological Assets Due to Physical Change 174,880.00 219,319.00
Total Losses 229,492.01 231,538.09

Surplus/(Deficit) for the period 203,585,789.06 128,889,473.34

15
 STATEMENT OF CHANGES IN NET ASSETS/EQUITY
ALL FUNDS
FOR THE YEAR ENDED DECEMBER 31, 2021

Accumulated
Surplus/ (Deficit)
2021 2020

Balance at January 1 3,009,322,032.22 2,891,290,849.45

Add/(Deduct):
Changes in Accounting Policy 0.00 0.00
Prior period errors -28,384,258.33 -8,540,552.57
Other Adjustments 14,102,334.25 62,100.00
Restated Balance 2,995,040,108.14 2,882,812,396.88

Add/(Deduct):
Changes in Net Assets/Equity for the Calendar Year
Adjustment of Net Revenue recognized directly in Net Assets/Equity -3,599,529.36 -2,558,958.00
Surplus/(Deficit) for the Period 203,585,789.06 128,889,473.34
Others 2,961,817.53 179,120.00

Balance at December 31, 2021 3,197,988,185.37 3,009,322,032.22

16
 West Visayas State University
(Formerly Iloilo Normal School)
Luna St., La Paz, Iloilo City 5000
Iloilo, Philippines
* Trunkline: (063) (033) 320-0870 to 78 * Telefax No.: (033) 320-0879
* Website: www.wvsu.edu.ph * Email Address: finance@wvsu.edu.ph

STATEMENT OF CASH FLOWS

ALL FUNDS
FOR THE YEAR ENDED DECEMBER 31, 2021

Note 2021 2020

Cash Flows From Operating Activities

Cash Inflows
Receipt of Notice of Cash Allocation 1,566,490,320.51 1,349,364,637.30
Collection of Income/Revenues 776,329,409.72 759,079,539.10
Receipt of Subsidy from Other NGAs, LGUs and GOCCs 12,500,000.00 15,000,000.00
Collection of Receivables 114,919,933.61 173,041,579.26
Receipt of Inter-Agency Fund Transfers 248,253,071.25 243,613,169.86
Receipt of Intra-Agency Fund Transfers 26,627,350.00 1,388,320.00
Receipt of Trust Liabilities 407,171,033.02 443,465,365.78
Other Receipts 1,151,965.49 3,879,085.48
Adjustments 71,427,451.63 11,152,426.84
Total Cash Inflows 3,224,870,535.23 2,999,984,123.62

Cash Outflows
Remittance to National Treasury 3,608,329.77 5,055,581.97
Payment of Operating Expenses 1,336,846,353.33 1,328,579,893.94
Purchase of Inventories 288,052,951.42 345,497,656.23
Purchase of Consumable Biological Assets 0.00 0.00
Grant of Cash Advances (Unliquidated During the Year) 11,355,100.23 7,392,617.22
Prepayments 92,380.86 214,425.39
Payment of Deposits 593,549.53 1,202,343.33
Payment of Prior Year's Accounts Payable 123,548,683.06 76,339,681.60
Remittance of Personnel Benefit Contributions and Mandatory Deductions 542,868,749.43 437,778,178.51
Grant of Financial Assistance/Subsidy 0.00 0.00
Release of Inter-Agency Fund Transfers 8,884,662.00 1,658,150.00
Release of intra-agency fund transfers 39,898,147.31 2,132.43
Payment from Trust Liabilities/Fund Transfers 689,319,205.98 450,893,661.60
Other Disbursements 856,283.45 65,455.00
Adjustments 71,790,239.81 37,113,446.69
Total Cash Outflows 3,117,714,636.18 2,691,793,223.91

Net Cash Provided by (Used in) Operating Activities 30 107,155,899.05 308,190,899.71

Cash Flows from Investing Activities

Cash Inflows
Proceeds from Sale of Investment Property 0.00 0.00
Proceeds from Sale/Disposal of Property, Plant and Equipment 0.00 0.00
Sale of Investments 0.00 0.00
Receipt of Cash Dividends 0.00 0.00
Proceeds from Matured/Return of Investments 0.00 0.00
Collection of Long-Term Loans 0.00 0.00
Total Cash Inflows 0.00 0.00

Cash Outflows
Purchase/Construction of Investment Property 0.00 0.00
Purchase/Construction of Property, Plant and Equipment 104,138,951.67 118,866,341.97
Investments 0.00 0.00
Purchase of Bearer Biological Assets 369,100.00 0.00
Purchase of Intangible Assets 0.00 0.00
Grant of loans 0.00 0.00
Total Cash Outflows 104,508,051.67 118,866,341.97

Net Cash Provided by (Used in) Investing Activities -104,508,051.67 -118,866,341.97

17
 Note 2021 2020
Cash Flows from Financing Activities
Cash Inflows
Proceeds fromissuance of bills and bonds 0.00 0.00
Proceeds from Domestic and Foreign Loans 0.00 0.00
Proceeds from Domestic and Foreign Loans 0.00 0.00
Proceeds from Domestic and Foreign Loans 0.00 0.00
Total Cash Inflows 0.00 0.00

Cash Outflows
Payment of Long-Term Liabilities 0.00 0.00
Redemption of Bills/Bonds Issued 0.00 0.00
Total Cash Outflows 0.00 0.00

Cash Provided by (Used in) Financing Activities 0.00 0.00

Increase(Decrease) in Cash and Cash Equivalents 2,647,847.38 189,324,557.74

Effects of Exchange Rate Changes on Cash and Cash Equivalents 11,686.03 -11,390.49

Cash and Cash Equivalents, January 1, 1,328,603,119.94 1,139,289,952.69

Cash and Cash Equivalents, December 31 1,331,262,653.35 1,328,603,119.94

18
 STATEMENT OF COMPARISON OF BUDGET AND ACTUAL AMOUNTS
ALL FUNDS
FOR THE YEAR ENDED DECEMBER 31, 2021

Budgeted Amount
Actual Amounts Difference Final
Particulars on Comparable Budget and
Original Final
Basis Actual

RECEIPTS Notes
Tax Revenue 3.13 & 3.15 0.00 0.00 0.00 0.00
Service and Business Income 3.14 & 3.15 668,863,699.00 668,863,699.00 427,860,308.78 241,003,390.22
Assistance and Subsidy 3.13 & 3.15 0.00 0.00 0.00 0.00
Shares, Grants and Donations 3.13 & 3.15 0.00 0.00 0.00 0.00
Gains 3.14 & 3.15 0.00 0.00 0.00 0.00
Others 3.15 0.00 0.00 0.00 0.00
Total Receipts 668,863,699.00 668,863,699.00 427,860,308.78 241,003,390.22

PAYMENTS
Personnel Services 3.15 1,294,287,656.00 1,387,987,916.00 1,329,193,543.06 58,794,372.94
Maintenance and Other Operating
Expenses 3.15 708,294,306.00 649,651,374.00 381,721,542.64 267,929,831.36
Capital Outlays 3.15 357,891,737.00 357,891,737.00 66,634,701.03 291,257,035.97
Financial Expenses 3.15 0.00 0.00 0.00 0.00
Others 3.15 0.00 0.00 0.00 0.00
Total Payments 2,360,473,699.00 2,395,531,027.00 1,777,549,786.73 617,981,240.27

NET RECEIPTS/PAYMENT -1,691,610,000.00 -1,726,667,328.00 -1,349,689,477.95 -376,977,850.05

19