Financial condition and results of operations
Financial condition
Review Basey Water District assets, liabilities, equity, income, and expenses for CY 2024 and CY 2023.
Total Assets (2024)
₱26,322,831.48
₱25,696,720.34 in 20232.4%
Total Liabilities (2024)
₱2,783,786.22
₱4,206,535.29 in 202333.8%
Equity (2024)
₱23,539,045.26
₱21,490,185.05 in 20239.5%
Net Income (2024)
₱650,842.26
₱410,017.73 in 202358.7%
Position at a glance
Total assets, total liabilities, and equity
| 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 |
Asset composition (2024)
Total assets of ₱26,322,831.48 by liquidity
Total Assets₱26,322,831.48
Liability composition (2024)
Total liabilities of ₱2,783,786.22 by term
Total Liabilities₱2,783,786.22
Revenue mix (2024)
Total income of ₱8,494,764.13 by source
| Category | Value |
|---|---|
| Water Sales | ₱7,879,460.28 |
| Other Business Income | ₱606,188.85 |
| Service Income | ₱9,115.00 |
Expenses by nature
Personal services, MOOE, non-cash, and financial expenses
| Category | CY 2024 | CY 2023 |
|---|---|---|
| Personal Services | ₱4,122,886.12 | ₱4,817,079.37 |
| MOOE | ₱3,195,511.81 | ₱2,958,183.43 |
| Non-Cash | ₱524,723.94 | ₱486,043.28 |
| Financial | ₱800.00 | ₱437,852.92 |
Condensed statement of financial position
| Account | CY 2024 | CY 2023 |
|---|---|---|
| Current Assets | ₱16,276,335.39 | ₱15,272,859.35 |
| Non-Current Assets | ₱10,046,496.09 | ₱10,423,860.99 |
| Total Assets | ₱26,322,831.48 | ₱25,696,720.34 |
| Current Liabilities | ₱1,637,394.41 | ₱2,826,418.48 |
| Non-Current Liabilities | ₱1,146,391.81 | ₱1,380,116.81 |
| Total Liabilities | ₱2,783,786.22 | ₱4,206,535.29 |
| Equity (Retained Earnings) | ₱23,539,045.26 | ₱21,490,185.05 |
Results of operations
| Particulars | CY 2024 | CY 2023 |
|---|---|---|
| Income | ₱8,494,764.13 | ₱9,109,176.73 |
| Expenses | ₱7,843,921.87 | ₱8,699,159.00 |
| Net Income Before Tax | ₱650,842.26 | ₱410,017.73 |
| Income Tax Expense | ₱0.00 | ₱0.00 |
| Net Income After Tax | ₱650,842.26 | ₱410,017.73 |
| Comprehensive Income | ₱650,842.26 | ₱410,017.73 |
Revenue breakdown (CY 2024)
| Particulars | Amount |
|---|---|
| Metered Water Sales | ₱7,907,481.00 |
| Sales Discounts | -₱28,020.72 |
| Water Sales (net) | ₱7,879,460.28 |
| Inspection Fee | ₱8,360.00 |
| Other Service Income | ₱755.00 |
| Service Income | ₱9,115.00 |
| Waterworks System Fees | ₱88,013.00 |
| Fines and Penalties | ₱422,661.95 |
| Sale of Unserviceable Property | ₱1,050.00 |
| Gains and Other Business Income | ₱94,463.90 |
| Other Business Income | ₱606,188.85 |
| Total Income | ₱8,494,764.13 |
Expense breakdown (CY 2024)
| Particulars | Amount |
|---|---|
| Salaries and Wages | ₱2,607,127.26 |
| Other Compensation | ₱1,232,767.93 |
| Personnel Benefit Contributions | ₱282,990.93 |
| Other Personnel Benefits / Terminal Leave | ₱0.00 |
| Personal Services | ₱4,122,886.12 |
| Maintenance and Operating Expenses | ₱3,195,511.81 |
| Financial Expenses | ₱800.00 |
| Non-Cash Expenses | ₱524,723.94 |
| Total Expenses | ₱7,843,921.87 |
Retained earnings
| Particulars | CY 2024 | CY 2023 |
|---|---|---|
| Beginning Balance | ₱21,490,185.05 | ₱23,198,936.24 |
| Prior Period Errors | ₱1,398,017.95 | -₱2,118,768.92 |
| Adjusted Balance | ₱22,888,203.00 | ₱21,080,167.32 |
| Net Income for the Year | ₱650,842.26 | ₱410,017.73 |
| Ending Balance | ₱23,539,045.26 | ₱21,490,185.05 |
Loans payable to LWUA
| Particulars | CY 2024 | CY 2023 |
|---|---|---|
| Current portion per books | ₱221,886.00 | ₱221,886.00 |
| Non-current portion per books | ₱1,146,391.81 | ₱1,380,116.81 |
| Total per books | ₱1,368,277.81 | ₱1,602,002.81 |
| Current portion per LWUA confirmation | ₱234,213.00 | Not disclosed |
| Non-current portion per LWUA confirmation | ₱1,146,391.81 | Not disclosed |
| Total per LWUA confirmation | ₱1,380,604.81 | Not disclosed |
The loan with the Local Water Utilities Administration (LWUA) is non-interest bearing. As of December 31, 2024, the District’s records showed ₱1,368,277.81 versus the LWUA-confirmed balance of ₱1,380,604.81, an unreconciled difference of ₱12,327.00 discussed in the audit findings. The account number is omitted under the portal’s redaction policy.