MEMORANDUM

TO
SUBJECT
DATE
Republic of the Philippines
COMMISSION ON AUDIT
Commonwealth Avenue, Quezon City, Philippines
CORPORATE GOVERNMENT SECTOR
Cluster 4 - Industrial and Area Development
ALL SUPERVISING AUDITORS / AUDIT TEAM LEADERS
Audit observations of the Bureau of the Treasury (BTr) Audit Team
affecting some GOCCs
September 15,2014
Attached are documents related to the above-captioned subject. Please pursue/follow up the
issues raised by the Auditor of the Bureau of Treasury as it pertains to your respective auditess.
LE~S
Director IV
LSP /medp/bdb
Re#vc 336-010-09152014
Commission on Audit
Commonwealth Ave., Quezon City
ACTION REFERRAL SLIP
OFFICJ ::: eoCGS OAC 1
09.12.14
OUT;:r:-:-: :
RI=FNO.:
(NGS -2) OAC-CG& 2014-09-12-0169
DATE RECEIVI=D; IN:
St::NDt::R;
Director Adelina Concepcion 1-. Ancajas
Auctit Observations of the Bureau of the Treasury (BTr) Audit Team affecting some
GOCCs
FOR:
o
0
o
Comments/Recommendation DSee me
lZIotners
oAppropriate Action
oReview/evaluation
oCompliance
lnforrnation
File
RI=MARKS:
.
Action
Officer
Date Ref~rredl
Date Received COMMENTS/ACTION MADE
MEMORANDUM
FOR
THRU
Assistant Commissioner WINNIE ROSE H. ENCALLADO
Head, Corporate Government Sector
Assistant CO~"issioneB~
Head, This Sector
SUBJECT Audit observations of the Bureau of the Treasury (BTr) Audit Team
affecting some GOCCs
DATE September 8, 2014
===============================================================
Attached is the matrix of issues and concerns and the corresponding resolutions
discussed during the meeting on August 15, 2014 with some CGS Cluster Directors,
Supervising Auditors, Audit Team Leaders relative to the audit observations noted by
the BTr Audit Team which are also the concern of some government-owned and/or
controlled corporations (GOCCs).
For information and appropriate action.
~.
ADELINA CONCEPCI~ ANCAJAS
Directo~~ ,
NGS/Cluster 2
ACLAlYNUIlGC
CGS-Resolution on BTR issues
Matrix of Issues and Concerns
Bureau of theTreasury-National Government
CY 2013
Agency BTr Audit Team ObservationslRecommendations Comments of CGS
.
NGS Rejoinder Resolution Agreed upon During
Concerned Directors/SAs/ ATLs the Meeting
CCP 1. Subsidies of three GOCCs for P20,190,426.00 intended for 1. Once the Subsidy to GOCCs are 1. According to SA 1. The concerned Auditors of
CIC MOOE were spent for PS received, the fund forms part of Myrna Monzon, the CGS should issue an audit
CITC CCP - 15,255,000 the Corporate Operating Budget COB should contain query onthese issues.
crc - 898,876 (COB), thus, theAuditor is information onthe
CITC - 4,035,550 unable to keep track if the Subsidy andthe Likewise, they should see to it
release was utilized as MOOE. intended purpose for that the Subsidies were utilized
which it was released. inaccordance with the
proposed project reflected in
the SARO.
LWUA 2. Subsidies ofP5,641,089.35 released to two GOCCs remained 2. Director J oseph Anacay 2. The Auditor of the LWUA
SSS unutilized as at year-end. observed that the status was as should look into the unutilized
of November 30,2013 which as balance of the Subsidy
Amount of
Amount of
of date, the amount could have
Name of Subsidy as of
Unutilized
been utilized.
GOCC November 30,
Subsidy
2013 The unexpended balance of the
1 LWUA F 10,700,000.00 P4,059,684.00 SSS had been utilized as of J uly
I
31,2014.
2 SSS 759,572,145.00 1,581,405.35
d
- - -
Total P-770,272,145.00 F5,641,089.35
.
Recommendation:
Management release funds only to GOCCs when needed to
forestall increase in unutilized subsidies and to require GOCCs
to submit reports on their utilization of subsidies received.
"
1
Agency
Concerned
Resolution Agreed upon During
the Meeting
BTr Audit Team ObservationslRecommendations
3. The subsidies given to the different GOCCs exceeded the
programmed budgetary support by M8,363,233,339.00
contrary to Chapter 35of Republic Act 10352. (Schedule 1)
Recommendation:
The Treasurer of thePhilippines request the DBM Secretary
for the legal b sis for therelease of SAROslNCAs totalling
P48,363,233,339.00 to GOCCs which exceeded their
programmed appropriations by F33,622,960,968.00
(excluding PDAF ofF57,590,000.00) and those without
programmed appropriations per GAA ofF14,740,272,371.00
(excluding PDAF ofF 58,222,265.00).
Comments of CGS
Directors/SAs/ ATLs
3. These releases may pertain to
Disbursement Acceleration
Program (DAP).
The CGS Auditors said that our
concern should only cover those
releases made after the DAP
was declared unconstitutional
since the implementing agencies
are only recipients of the fund.
Also, every Auditor should look
into the utilization of the
releases made prior to the
declaration, whether in
accordance to the projects stated
in the SAROs.
NGS Rejoinder
3. The CGS Auditors should
issuean Audit Observation
Memorandum and require that
unobligated balances should
no longer be utilized and the
corresponding balance ofNCA
bereturned to theNational
Treasury.
---. ~ ~~ _L _L ~L_ ~
DAP, DBP,
LCP, NDA,
Philhealth
4. Five GOCCs who were given budgetary support forCY 2012
were included in the thirty-one (31) GOCCs ordered to
refund to the government all bonuses, allowances and other
financial rewards given to officials and employees that were
considered by COA as unauthorized expenditure. (Schedule
2)
Recommendation:
Management coordinate with the Corporate Affairs Group
(CAG) of the DOF, in charge of the GOCCs to raise the
above cited issue in order that subsidies be given to GOCCs
who are financially unable and have really scarce/limited
resources in carrying out present Programs/Projects.
2
4. The GOCC Auditors shall look
into this issue.
Agency
Concerned
Resolution Agreed upon During
the Meeting
PAGCOR
BTr Audit Team ObservationslRecommendations
Unremitted PAGCOR share - PI8,047,297,434.29
Comments of CGS
Directors/SAs/ ATLs
NGS Rejoinder
5. NG share from PAGCOR revenues were not adjusted as at
year-end of CYs 2011-2013 resulting to under remittance of
P5,533,009,508.55 for 2011, P6,367,139,999.40 for 2012 and
P6,147,147,926.34 for 2013 or atotal ofP18,047,297,434.29
contrary to Section 12ofPD 1869
Section 12 of PD No. 1869 dated J uly 11, 1983 otherwise
known as the Charter of PAGCOR, as amended by PD 1993,
provides that after deducting five per cent (5%) from annual
gross earnings, as franchise tax, the NG shall have ashare of
fifty per cent (50%) of the gross earnings, or 60% if the
aggregate gross earnings less than ]2150,000,000.00.
Recommendation:
Require PAGCOR to remit P18,047,297,434.29, representing
unremitted share for CYs 2011-2013 and compute and
collect also the dividends due and demandable for CY 2010
andprior years since the creation of PAGCOR.
5.The computation ofNG's share
inthe earnings ofPAGCOR had
been elevated to the Supreme
Court (SC).
5. ThePAGCOR Auditor to
monitor status of thecase
elevated to the SC
PAGCOR 6. The duly certified statement disclosing gross earnings and
franchise tax payable as prescribed under par. 3.3 of the DOF
Circular 2-98 dated August 12, 1998 was not yet submitted
despite previous audit recommendation to do so.
Section 3.4 of the DOF Circular No. 2-98 dated August 12,
1998 setting the guidelines on the implementation of the
abovecited provision provides that "Adjustments in the
amount paid by PAGCOR to the National Treasury under
this Section shall be made at the end of each year based on
their audited financial statements which shall be submitted to
the BTr on or before 30 April of the fo llowing year".
3
6. The Supervising Auditor,
PAGCOR should require the
corporation to submit duly
certified statement disclosing
gross earnings and franchise
tax payable.
Agency BTr Audit Team ObservationslRecommendations Comments of CGS NGS Rejoinder Resolution Agreed upon During
Concerned Directors/SAs/ ATLs the Meeting
PAGCOR Unremitted PAGCOR share - P18,047,297,434.29
5. NG share from PAGCOR revenues were not adjusted as at 5.The computation ofNG's share 5. The PAGCOR Auditor to
year-end of CYs 2011-2013 resulting to under remittance of inthe earnings ofPAGCOR had monitor status of the case
,
P5;533,009;508.55 for 2011, P6,367,139,999.40 for 2012 and been elevated to the Supreme elevated to the SC
P6,147,147~926.34 for 2013 or atotal ofP18,047,297,434.29 Court (sq.
contrary to Section 12 of PD 1869
Section 12 of PD No. 1869 dated J uly 11, 1983 otherwise
known as the Charter of PAGCOR, as amended by PD 1993,
provides that after deducting five per cent (5%) from annual
gross earnings, as franchise tax, the NG shall have ashare of
fifty per cent (50%) of the gross earnings, or 60% if the
aggregate gross earnings less than-F150,000,000.00.
Recommendation:
Require PAGCOR to remitP18,047,297,434.29, representing
unremitted share for CYs 2011-2013 and compute and
collect also the dividends due and demandable for CY 2010
andprior years sincethe creation ofPAGCOR.
PAGCOR 6. The duly certified statement disclosing gross earnings and 6. The Supervising Auditor,
franchise tax payable as prescribed under par. 3.3 of the DOF PAGCOR should require the
Circular 2-98 dajed August 12, 1998 was not yet submitted
- -
corporation to submit duly
despite previous audit recommendation to do so. certified statement disclosing
gross earnings and franchise
Section 3.4 of the DOF Circular No. 2-98 dated August 12, tax payable.
1998 setting the guidelines on the implementation of the
abovecited provision provides that "Adjustments in the
amount paid by PAGCOR to the National Treasury under
this Section shall be made at the end of each year based on
their audited financial statements which shall be submitted to
the BTr on or before 30 April of thefollowing year".
3
Agency
Concerned
Resolution Agreed upon During
the Meeting
BTr Audit Team ObservationslRecommendations
Recommendations:
y' Require PAGCOR to adjust the 50% share of NG not later
than April 30 of each year andremit the same to theBTr.
y' Require PAGCOR to submit duly certified statement
disclosing gross earrnngs and franchise tax payable as
prescribed under par. 3.3 ofDOF Circular 2-98 since 1987.
7. Unremitted GOCCs dividend - P123,181,140,877.33
The GOCCs' dividends due and demandable of
P75,366,710,713.76 under RA 7656 for CY 2012 and 201"1
and prior years amounting to P47,814,430,163.57 or a total
of P123,181,140,877.33 had not been remitted in full, thus,
depriving the NG of additional resources to fund its
programs andprojects. (Schedule 3)
Recommendation
BTr-MAAD, in coordination with the DOF-CAG, ensure the
following:
y' Pursue aggressively the monitoring of GOCCs~compliance
to RA 7656 and enforce faithfully the penalty as provided
therefore aspart of the NG's efforts to generate theneeded
funds for the implementation of various programs and
projects; and
y' Prepare the necessary data on dividends due from the
GOCCs for CY s2012 and prior years based onnet earnings
as shown ontheir audited FSs and issue collection letters to
GOCCs on the dividends of P123,181,140,877.33 still due
the NG.
7. In2012, ameeting was 7. The GOCC Auditors shall look
attended by SA into this issue.
Monzon and Ms. Nory
J ozes-tc cliscusstk \
(
~endment toRA 7656
ontheexclusion of the
subsidies received by I )
theGOCCs fromthe V
~ ~
Comments of CGS
Directors/SAs/ ATLs
~ NGS Rejoinder
Inquiry fromDOF-
CAG onthe status
revealed that the
amendment was not yet
approved. Thus, the
audit group computed
the50% dividends due
toNG based on the net
income of the GOCCs.
This is in accordance
with Section 2 (d) and
Section 3of RA 7656
(copy of RA 7656
attached)
8. Unremitted dividends earned from NG's equity
contribution to GOCCs amounting to P3,780,907,534.02
4
8. The Auditors ofDBP, LWUA
and PADC shall look into this
Agency
Concerned
Resolution Agreed upon During
the Meeting
BTr Audit Team ObservationslRecommendations
Section 55 (4), Chapter 1, Title II, PD 1445provides that
"the auditor shall obtain through confirmation, among
others, sufficient evidential matter to afford himself a
reasonable basis for his opinions, judgments,
conclusions, and recommendations. "
Article 5 of Ownership and Operations Manual for the
GOCC Sector provides that "The State, as the Owner
representing the sovereign people, constitutes the
controlling interest in, or is the majority stockholder of
Gaees and Subsidiaries, and thereby exercises all the
prerogatives of ownership in every Gaee, including, but
not limited to the:
(a) right to register its equity holdings in the books of
the Gaee for all its equity investments therein,
together with the right to be issued certificates of stock
representing its investment in the Gaee;" State's Role
and Relationship with Gaees;
(b) right to dividends, when declared, pertaining to its
equity holdings in the Goee. ...
(g) right to receive a proportional share in the net
assets of the Gace upon its dissolution."
3,780,907~:;34.02
DBP P2,947,087,534.02 The unremitted dividend pertains
to 2013.
LWUA
8~() Q'l{\ {\{\{\ no Dividends for CYs2010 2013
PADC ~OOO,OOO.OO Y
Total
Recommendation
BTr pursue the collection of the unremitted dividends earned
from the concerned GOCCs and verify the financial status of
those GOCCs with no dividends.
Comments of CGS
Directors/SAs/ ATLs
5
NGS Rejoinder
issue.
"
REPUBLICACT NO. 7656 -
AN ACT REQUIRING GOVERNMENT-OWNED OR CONTPoLLED CORPORATiONs TO DECLARE
DiViDENDS UNDER CERTAIN CONDITIONS TO THE NATIONAL GOV~RNMENT, AND FOR OTHEIt
PURPOSES
SECTION 1. Declaration of Policy. - It is hereby declared the policy of the State that in order for
the National Government to realize additional revenues, government-owned or -controlled
corporations, without impairing their viability and the purposes for which they have been
established, shall share a substantial amount of their net earnings to the National Government.
SECTION 2. Definition of Terms. - As used in this Act, the term:
(a) "National Government" refers to the entire machinery of the central government, as
distinguished from the different forms of local governrnents.
(b) "Government-owned or controlled corporations" refers to corporations organized as a stock or
non-stock corporation vested with functions relating to public needs, whether governmental or
proprietary in nature, and owned by the Government directly or through its instrumentalitles elther
wholly or, where applicable as in the case of stock corporations, to the extent of at least fifty one
percent (51%) of ils capital stock. This term shall also include financial lnstttutlons, owned or
controlled by the National Government, but shall exclude acquired asset corporations, as defined ih
the next paragraphs, state Universities, and colleges.
(c) ."Acquired asset corporation" refers to a corporation: (1) which is under private ownership, the
voting or outstanding shares of which were: (i) conveyed to the Government or to a government
agency, instrumentality or corporation in satisfaction of debts whether by foreclosure of otherwise,
or (i1) duly acquired by the Government through final judgment in a sequestration proceeding; or (2)
which is a SUbsidiary of a government corporation organized exclusively to own and manage, or
lease, or operate specific physical assets acquired by a government financial institution In
satisfaction of debts incurred therewith, and which in anv case by law or by enunciated policy is
required to be disposed of to private ownership within a specified period of time.
(d) "Net earnlngs" shall-mean income derived from whatever source, whether exempt Or subject to
tax, het of deductions allowed Under Sectlon1.9 of the Natlonal lnternal Revenue Code, as amended,
and income tax and other taxes paid there~but in no case shall any reserve for whatever purpose
be allowed as a deduction from net earnings. ~<;,u. ?tI {7ul<A- t< J (Ile)
SECTION 3. Dividends. - All government-owned or -controlled corporations shall declare and
remit at least fifty percent (50%) of their annual net earnings as cash, stock or property dividends to
the National Government. This section shall also apply to those government-owned or -controlled
corporations whose profit distribution is provided by their respective charters or by special law, but
shall exclude those enumerated in Section 4 hereof: provided, that such dividends accruing to the
National Government shall be received by the National Treasury and recorded as income of the
General Fund.
SECTION 4. Exemptions. - The provisions of the preceding section notwithstanding, government-
owned or -controlled corporations created ( r organized 'by law to administer real or personal
properties or funds held in trust for the use and the benefit of its members, shall not be covered by
this Act such as, but not limited to: the Government Service Insurance System, the Home
Development Mutual Fund, the Employees Compensation Commission, the Overseas Workers
Welfare Administration, and the Philippine Medical Care Commission.
SECTION 5. Flexible Clause. - In the interest of national economy and general welfare, the
percentage of annual net earnings that shall be declared by a government-owned or -controlled
corporation may be adjusted by the President of the Philippines upon recommendation by the
Secretary of Finance.
SECTioN 6. Penalty. - Any member of the governing board, the chief executive officer and the
chief financial officer of a government-owned or -controlled corporation who violates any provision
of this Act or any of the implementing rules and regulations promulgated thereunder, in addition to
other sanctions provided by law, upon conviction thereof, shall suffer the penalty of a fine not less
than Ten thousand pesos (PiO,ooo.oO) but not more than Fifty thousand pesos (PsO,OOO.OO) or
imprisonment of not less than one (1) year but not more than three (3) years, or both, at the
discretion of the court.
SECTION 7. Implementing Rules and Regulations, - The Department of Finance shall formulate
and issue the necessary rules and regulations within sixty (60) days from the effectivity of this Act
and shall exercise primary jurisdiction in its implementation.
SECTION 8. Separability Clause. - If for any reason or reasons any part of the provision of this Act
shall be deemed to be unconstitutional or Invalid, the other parts or provisions hereof which are not
affected thereby shall continue to be in force and effect.
SECTION 9. Repealing Clause. - Executive Order No. 399, dated April 29, 1990, and other laws,
decrees, executive orders, letters of instruction, rules and regUlations, and portions thereof
inconsistent with the provisions of this Act are hereby repealed or modified accordingly.
SECTiON 10. Effectivity Clause. - This Act shall take effect fifteen (15) days after its publication in
the Official Gazette or in at least two (2) national newspapers of general circulation, whichever
comes earlier.
Approved: November 9, 1993
f'k< 2& ~ t?b ~ a ,f&uJ-Lr7'
p
- ...pJ is
~J g~ a-Iir~~ 7f ffA 7rf-l?-,
dde;e ~ VI' i'1'1%" t2.L ~o ~9 :!a
N~- 1) ;J If!.. (!/ -
Schedule 1- List of GOCCs that received subsidy not inaccordance with the GAA
Name of GO CC PerGAA SUbsidy Released
Under (Over)
Releases
A. GOCCs given subsidy beyond the GAA
1.
Credit Information Corporation 28,410,000.00 44,725,000.00 ( 16,315,000.00)
2. Center for International 'I rade
96,810,000.00 188,118,000.00 (91,308,000.00)
Expositions &Missions
3. Development Academy of the
129,300,000.00 135,330,920.00 (6,030,920.00)
Philippines
4. Lung Center of the Philippines 173,400,000.00 180,450,000.00 (7,050,000.00)
5. National Dairy Authority 261,744,000.00 761,744,000.00 (500,000,000.00)
6. National Electrification Administration 5,405.029,000.00 14,027 ,810,337.00 (8,622,781,337.00)
7. National Irrigation Administration 1,72_ '08,(lOO.00 3,024,241,784.00 (1,302,033,784.00)
8. National Kidney Transplant Institute 202,865,000.00 1,283,546,000.00 (1,080,681,000.00)
9. Philippine Coconut Authority 1,738,750,000.00 5,107,440,000.00 (3,368,690,000.00)
10. Philippine Center of Economic
14,500,000.00 72,835,000.00 (58,335,000.00)
Development
11.
Philippine Children Medical Center 345,000,000.00 349,330,000.00 (4,330,000.00)
12. Philippine Deposit Insurance
1,884,164,000.00 6,998,717,0001.00 (5,114,553,001.00)
Corporation
13. Philippine Heart Center 187,000,000.00 210,875,000.00 (23,875,000.00)
14. Philippine Institute for Development
33,000,000.00 37,000,000.00 (4,000,000.00)
Studies
15. Philippine Postal Corporation 301,000,000.00 1,173,548,026.00 (872,548,026.00)
16. Others 13,606,000.00 12,621,625,900.00 (J 2,608,0 19,900.00)
Sub-total l!i2,536,786,000.00 J ! 46,217,336,968.00 F(33,680,550,968.00)
B.
GOCCs not Included in the GAA as recipients of Subsidies
(/)1
17. Bangko Sentral ng Pilipinas 0.00 :317,000,000.00 (317,000,000.00)
18~Civil Aviation Authority of the Phi.i. 0.00 1,000,000,000.00 (1,000,000,000.00)
--r.Development Bank of the Philippines 0.00 420,746,708.00 (420,746,708.00)
20. Light Rail Transit Authorily 0.00 1,314,000,000.00 (1,314,000,000.00)
21. Local Water Utilities Administration 0.00 587,710,000.00 (587,710,000.00)
22. National Transmission Corporation 0.00 1,500,000,000.00 (1,500,000,000.00)
23. Philippine Health Insurance
0.00 95,047,365.00 (95,047,365.00)
Corporation (from DOH)
24. Power Sector Assets &Liabilities
0.00 8,134,690,381.00 (8,134,690,381.00)
Management Corporation
,
25. Social Housing Finance Corporation 0.00 19,728,037.00 (19,728,037.00)
~
..J~ Social Security System 0.00 759,572,145.00 (759,572,145.00)
J Tour!Sln Infrastructure and Enterprise
0.00 650,000,000.00 650,000,000.00
Zone Authority
Sub-total r 0.00 14,798,494,636.00 J !(14,798,494,636.00)
Grand Total 1'-12,536,786,000.00 I'- 61,015,831,604.00 1'-(48,479,045,604.00)
LessPDAF 115,812,265.00 (115,812,265.00)
Net l!12,536,786,OOO.OO J ! 60,900,019,339.00 J !(48,363,233,339.00)
Schedule 2 - GOCCs Who were givetl budgetary support for CY 2012 ordered to refund
Programmed Amount of Bonuses,
budgetary Actual releases in Allowances and Other
support per CY 2012 Ilnauclal rewards ordered
GAA fot refund
Development Academy of the Philippines F45,000,000.00
I! 48,195,900.00
I! 23,838,000.00
Development Bank of the Philippines 0.00 117,870,772.00 216,801,000.00
Lung Center of the Philippines 257,560,000.00 277,915,000.00 Not indicated
National Dairy Authoritv
170,472,000.00
.
170,472,000.00 Not indicated
Philltealth
1 0.00 14,068,084,040.00 1,651,084,000.00
1
Schedule 3- Schedule of GOCCs with Unrernltted Dividends
1
.
2012 Net Income 50% Dividends Dividends paid in
Due &
Name otCorporation subjectto tu DUeunder itA CY 2013 rot 2012
Demandable
\
7656 7656 Income
A. GOCCs consldered parent corporations
-_.. -_.-.-
Bases Conversion
! fr
17 Development 5,157,550,100.00 2,578,775,050.00 679,012,168.00 1,899,762,882.00
Authority
v-----.
l1til Aviation
.
~~
32 uthority of the 1,925,707,420.00 962,853,710.00 0.00 961,853,710.00
< ~
Philippines
v 61
Laguna Lake
Development 3,062,535.00 1,531,267.50 0.00 1,531,267.50
Authority
(
/73
Manila International
2,640,559,099.00 1,320,279,549.50 1,008,034,244.89
Airport Authority
312,245,304.61
~3
National
)
Development 330,549,630.00 165,274,815.00 114,627,351.92 50,647,463.08
Company
V
94
National
Electrification 340,577,922.00 170,288,961.00 136,548,873.55 33,740,087.45
Administration
:'1
)14
Philippine
0
Aerospace
6,482,088.00 3,241,044.00 2,000,000.00 1,241,044.00
Development
Corporation o_ ____
..--
(\
V .
Philippine
4 Red arnati ort 2,163,463,965.00 1,081
1
731,982.50 0.00 1,081,731
1
982.50
Authority
..
(;
Tourism
1 5
Infrastructure and
1,236,181,257.00 618,090,628.50 0.00 618,090,628.50
Enterprise Zone
Authority
I
Tottil 1l!165
1
3:H;294,695.231'(!82;666,647,347.62 7,29~,936,633.86 75;366j710,713.16 I

;1
" ;
Dividends Due (CY 1012 AAR) and Remittances in CY 2013
Due and Demandable as GOCC
Particulars of December j 1, 2012 Remittances ill Due and Demandable
(pet 2012 AAA) 2013
2011
P-
8,242,668,532.32
P-
92,846,066.95
P-
8,149,822,465.37
2010 and orior years 39,814,607,698.20 150,000,000.00 39,664,607,698.20
Total l! 4S,057j276j230.52 l! 242,846,066.95
-P-
47,814,430,163.57
CY
2012
20li &PYs
Tota1
Amount
P 75,366,710,713.76
47,814.430,163.57
I1 12:t181.140,877.33
. "
. f .