Skip to main content
Basey Audit ReportsUnofficial presentation

Statement of financial position

Financial position 2023

Review the Municipality of Basey’s assets, liabilities, and net assets or equity at December 31, 2023. Figures include CY 2022 comparisons.

Total Assets (2023)
₱1,105,323,513.40
₱1,007,107,895.72 in 20229.8%
Total Liabilities (2023)
₱315,907,664.83
₱276,603,805.36 in 202214.2%
Net Assets / Equity (2023)
₱789,415,848.57
₱730,504,090.36 in 20228.1%
Current Assets
₱362,047,098.26
₱743,276,415.14 in non-current assets
Position at a glance
Total assets, total liabilities, and net assets/equity
CategoryCY 2023CY 2022
Total Assets₱1,105,323,513.40₱1,007,107,895.72
Total Liabilities₱315,907,664.83₱276,603,805.36
Net Assets/Equity₱789,415,848.57₱730,504,090.36
Asset composition (2023)
Total assets of ₱1.11B by major account group
CategoryValue
Property, Plant & Equipment₱739,859,351.64
Cash & Cash Equivalents₱222,979,149.84
Receivables₱117,914,374.66
Inventories₱11,742,442.39
Prepayments & Other Current Assets₱9,409,531.37
Biological Assets₱3,417,063.50
Liability composition (2023)
Total liabilities of ₱315.9M by account group
CategoryValue
Inter-Agency Payables₱205,133,797.11
Deferred Credits / Unearned Income₱56,602,851.01
Trust Liabilities₱25,031,263.81
Financial Liabilities₱24,578,924.77
Other Payables₱4,560,828.13

Statement of financial position

AccountCY 2023CY 2022
Cash and Cash Equivalents₱222,979,149.84₱325,210,046.48
Investments₱1,600.00₱1,600.00
Receivables₱117,914,374.66₱80,711,596.17
Inventories₱11,742,442.39₱11,546,442.39
Prepayments & Deferred Charges₱9,409,531.37₱6,182,685.63
Total Current Assets₱362,047,098.26₱423,652,370.67
Property, Plant and Equipment₱739,859,351.64₱580,038,461.55
Biological Assets₱3,417,063.50₱3,417,063.50
Total Non-Current Assets₱743,276,415.14₱583,455,525.05
Total Assets₱1,105,323,513.40₱1,007,107,895.72
Total Current Liabilities₱257,247,587.76₱240,613,070.83
Total Non-Current Liabilities₱58,660,077.07₱35,990,734.53
Total Liabilities₱315,907,664.83₱276,603,805.36
Net Assets / Equity₱789,415,848.57₱730,504,090.36

Property, plant and equipment

AccountCY 2023CY 2022
Land and Land Improvements₱21,272,997.87₱19,867,509.57
Infrastructure Assets₱351,282,249.42₱316,963,627.24
Buildings and Structures₱175,118,270.49₱147,319,932.07
Machinery and Equipment₱24,381,939.14₱20,552,851.73
Transportation Equipment₱34,538,608.26₱31,909,980.54
Furniture and Fixtures₱4,920,805.70₱4,836,914.92
Construction in Progress₱117,296,089.79₱27,496,859.11
Other PPE₱11,048,390.97₱11,090,786.37
Total PPE₱739,859,351.64₱580,038,461.55

PPE rose by 27.6%, driven mainly by construction in progress and infrastructure assets.

Changes in net assets/equity

ParticularsCY 2023CY 2022
Balance at January 1₱730,504,090.36₱643,909,472.29
Prior period errors₱142,770.43-₱14,127,315.03
Restated balance₱730,646,860.79₱629,782,157.26
Net revenue recognized directly in net assets/equity₱0.00₱0.00
Surplus (deficit) for the period₱58,768,987.78₱100,721,933.10
Balance at December 31₱789,415,848.57₱730,504,090.36