Commission on Audit · biennial audit report
Basey Water District: audit at a glance
Review the COA Biennial Audit Report for Basey Water District (BWD), a government-owned and controlled water utility. The report covers January 1, 2023 to December 31, 2024 and compares CY 2023 with CY 2024.
Key financial highlights
CY 2024 vs CY 2023
| Category | CY 2024 | CY 2023 |
|---|---|---|
| Total Assets | ₱26,322,831.48 | ₱25,696,720.34 |
| Total Liabilities | ₱2,783,786.22 | ₱4,206,535.29 |
| Equity | ₱23,539,045.26 | ₱21,490,185.05 |
Assets grew to ₱26,322,831.48 while liabilities declined to ₱2,783,786.22, lifting equity by 9.5%.
| Category | CY 2024 | CY 2023 |
|---|---|---|
| Income | ₱8,494,764.13 | ₱9,109,176.73 |
| Expenses | ₱7,843,921.87 | ₱8,699,159.00 |
| Net Income | ₱650,842.26 | ₱410,017.73 |
Income fell by -6.7% to ₱8,494,764.13, while expenses fell faster, so net income rose by 58.7% to ₱650,842.26.
| Category | Value |
|---|---|
| Water Sales | ₱7,879,460.28 |
| Other Business Income | ₱606,188.85 |
| Service Income | ₱9,115.00 |
The district at a glance
Name redacted. See the official COA report.
Name redacted. See the official COA report.
Basey Water District is a Government Business Enterprise (GBE) / Local Water District operating under Conditional Certificate of Conformance No. 215. See About the District for its history, Board of Directors, and mandate.
Explore the report
Related report
The Basey Water District is presented separately from the LGU audit report. Visit the Municipality of Basey COA Annual Audit Report presentation for the municipal government’s financial statements and findings.
Data and source notes
- Executive Summary Table 2 shows CY 2024 Liabilities of ₱2,892,360.26 and Equity of ₱23,430,471.22, which differ from the audited Statement of Financial Position (Liabilities ₱2,783,786.22; Equity ₱23,539,045.26). The audited SFP values are used, consistent with Assets (₱26,322,831.48) minus Liabilities (₱2,783,786.22) equal to Equity (₱23,539,045.26).
- The condensed Statement of Cash Flows prints CY 2024 net operating cash of ₱910,983.70 and a net cash increase of ₱673,593.35. Appendix C.1 reports ₱910,983.35 and ₱673,594.35; the latter net increase exactly reconciles beginning cash of ₱12,572,226.13 to ending cash of ₱13,245,820.48 and is used. Appendix C.1's collection row is itself short by ₱10,000; the main statement's ₱8,663,772.54 is used because it reconciles to the appendix total inflow.
- The Board of Directors listing for Marion Reposar shows a term of 'Jan. 1, 2021 - Dec. 31, 2026' in the audit report's Part I table, versus 'Aug. 1, 2024 - Dec. 31, 2026' in Executive Summary Table 1; the Executive Summary listing is used.
- Active service connections (2,342) and estimated population served (11,710) are reported only as of December 31, 2024; CY 2023 values are not disclosed and are stored as null.
- The LWUA-confirmed loan balance is disclosed only for CY 2024 (₱1,380,604.81 against books of ₱1,368,277.81, a ₱12,327.00 difference). Per-books and per-LWUA values are stored separately; the undisclosed CY 2023 confirmation is null.
- Of the outstanding Notice of Suspension balance of ₱767,269.65, ₱7,500.00 have no supporting documents due to the absence of turn-over reports; of the outstanding Notice of Disallowance balance of ₱637,470.26, ₱2,000.00 likewise have no supporting documents. None of the unsettled balances pertain to the present administration.
- The NS/ND narrative prints ending balances of ₱767,269.90 and ₱640,734.26, while the immediately following table and Executive Summary report ₱767,269.65 and ₱637,470.26. The table/Executive Summary values are used.
- The detailed income statements support Waterworks System Fees of ₱88,013.00 for CY 2024 and ₱82,588.50 for CY 2023; a Notes table reverses those year columns. The detailed-statement ordering is used.
- The detailed expense statements support personnel benefit contributions of ₱282,990.93 for CY 2024 and ₱245,222.21 for CY 2023; a Notes table has a reversed year header. The detailed-statement ordering is used.
- Budget utilization rates of 41.02% for CY 2024 and 44.12% for CY 2023 are derived as totalActual divided by totalBudget, rounded to two decimal places.
- The report finding describes a 5% GAD allocation using 'Corporate Operating Budget' while its quoted governing text refers to total agency budget appropriations under the annual GAA. The portal reproduces the finding and does not offer an independent legal interpretation.
- Finding amounts were removed as a generic field because the observations cite non-additive measures with different meanings, including account balances, adjustments, total asset populations, and unrealized revenue. Source amounts remain in each observation summary.
- COA Biennial Audit ReportBiennial Audit Report of the Basey Water District for CY 2023-2024 (7048 lines)
- Executive SummaryExecutive Summary of the CY 2023-2024 biennial audit
Independent Auditor’s Report dated March 14, 2025 (auditor name redacted; see the official COA report). The audit followed International Standards of Supreme Audit Institutions (ISSAIs). Financial statements are presented in accordance with Philippine Financial Reporting Standards (PFRS). The audit covers the biennium period January 1, 2023 to December 31, 2024.