1(Tti by the BIR) — _ :ator Number (DLN):

Republikipinas i

Kagawa ng Fil aran ng Panan An nual Income Tax Return BIR Form No. alapi nnuancome ax eurn

•,.., Kawanihan ng Rentas Internas For Corporation, Partnership and Other Non-Individual Taxpayer 1702 At information must be written in CAPITAL LETTERS. November 2011 (ENCS) Fill in all blank spaces. Shade all applicable circles. TO BE FILED IN THREE (3) COPIES: (1) BIR FILE COPY (2) BIR ENCODING COPY (3) TAXPAYER FILE COPY 1 For the

2 • Year Ended 0 Calendar 0 FisCal 3 Amended Return?

0YeS • No

4 Short Period Return?

0 Yes • No

5 Alphanumeric Tax Code (ATC) ,

IC 011 EXEMPT CORPORATION ON EXEMPT ACTIVITY 4 1 2 I 2 0 1 2 iMM/YYYYZ

Part 1 Background Information

6 , Taxpayer Identification 0

v 5 4 i• 0 0 3 : : i- i . i Number (TIN) 0 0

7 RDO Code 8 Date of Incorporation (MM/DD/YYY)9

9 Taxpayer's Name

- 10 Registered Address

P A C , Unit/Room Number/Floor)

(Building Name)

..

E N U Lot Number Block Number Phase Number Building Number) treet Name)

. , Barangay)

(SubdNisionAlikage)

i (MunicipaNy/City) (Province) (Zip Code) 11 Contact Number

4 1 8 2 12 E-mail Address

I n o 0a ansa ea ne . t ................. 13 Line of Business

F N .

14 Method of Deduction eternized Deduction Optional Standard Deduction (OSD)

15 Are you availing of Tax Relief under Special or International Tax Treaty? ryes If yes, fill out spaces below: Oyes

Special Rate Regular/Normal Rate (Special Tax Relief) 15A/B Investment Promotion Agency (IPA) 15A N A 15C/DIE Legal Basis 15C N A 15F/G/H Registered Activity/Program (Registration Number) 15F N A 1 151 %

I

i

15B N A

150 N A

15G N A

T

15H 15E N A

N A 5I/J Special Tax Rate

Effectivity Date of Tax Relief 15K/UM From (MM/DD/YYYY) 15K N Al 1 5N/O/P To (MM/DD/YYYY) 15N N Al

15L N Al 150 N A 1

1

15 ' N A' ' 1

15P; N A 1

Part II Computation of Tax PTV SpeciabRate

16 Sales/Revenues/Receipts/Fees (from Item 80J/K/L)* 161i I . I 8 1 4 4 8 1 5 8 3 • 0 0 160 N I A 4 I I I • 60

4. 4 4. 4 .

17 Less: Cost of Sales/Services (from Item 81J/K/L)* 17A I 7 1 6 3 6 1 8 5 3 • 0 0 170 N I A 70 18 Gross Income from Operation (Item 16 less Item 17) (from Item 82J/K/L)* 18A 1 1 18 1 117 3 0 • 0 0 180 N r A 1 1 r • 180 19 Add: Other Taxable Income not Subjected to Final Tax (from Item 83.1/K/L)* 19P 1 1 1 3 4 1 5 8 3 • 0 0 19I N 1 A • ?19G 20 Total Gross Income (Sum of Item 18 & 19)(from Item 84J/ K/L)* 201! i i 8 4 6 1 3 1 3 • 0 0 20qL /

i i 1

, ...... i N A L . I

t • Ind

Less: Allowable Deductions '

N I A

N 1 A

N1 A

N 1 A

I . W A .1

N i A i ..

N A

N A 1

NI A

Reqular/Normal Rate

I I I • . I I I •

• t

1 1 1 • I L

21 Optional Standard Deduction (40% of Item 20)(from Item 85J/K/L)* 21/4 Lr. . 1 r T 21Q N i L I • ri . A OR ..

T 1 r 1 , L • MO

T 1 1

..... .

•

r i r , L . •

22 Regular Allowable Itemized Deductions (from Item 86J/K/L)* 22A: t r r 1Ji. 1. 0 8 1 1 3 4 2•0 0

23 Special Allowable Itemized Deductions (specify) (from Item 87J/K/L/V/W/X)

:..

r Incentive Legal Basis

23A/B/C

23D/E/F : - E .

23.

23A r 1- r 1 238 N A • : Q

ri F 1 F 1

- 1 1... 1 1 .,. , 23E N 1 A a, 1

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L 24 Allowance for NOLCO (from Item 57) 24A I I . 240N I A I I . 24Q 25 Total Itemized Deductions (Sum of Items 22, 23 & 24)(from lie 89J/K/L)* 254 r — 1 1 r 0 8' 1 1 3'4 2 : 0' 0 250 A 1 1 1 * 4 4 ;

N 25C N I A

N 1 A N i

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use Supplemental Form

3 5 , 0 i . .101 0)

• 271

N

t I

26A ir 1

28I% I

260 NIA

80 NN I A

30 NA

N.r A

N 1 A

NIA

N IA

N A

I

I t

1280 N I A

36A

368

36C

36D

37

1 31

32

NIA

NIA

N IA NIA

NTA

N i A

No NIA

NI A

A

33p

33U

330

33t

I

•

•

I I

I 1

35 N ° L

I.

4 4

0 4

ecial Rate Regular/ r .

:26C N i A 1 BIR Form No 1702 - a e 2 =la

I.

I

I I

•

L I I I

N A

NIA

NIA It

N:A

NIA

N:A

NIA

i380

• • I

I I

I I

NIA N IA I— N I A *

I I

NIA

NIA

NTA 1 1

I I

I I •

I I

War. orm

090 I I I I

I I 1. * 1.*

38Ef

N I A NIA NI A

N 1 A

NIA N1A

1

N A

N1A NIA

38P

391

acoi

41A

42A

43A

ef dxab a (icome (Item 20 less Item 21 OR Item 25) (from Item 90J/K/L)* 27 Applicable Income Tax Rate (i.e., special rate or regular/normal rate)

28 Income Tax Due other than MCIT (Item 26 x Item 27)

29 Less: Share of Other Agencies

30 Net Income Tax Due to National Government (Item 288 less Item 29) 31 MCIT (2% of Gross Income in Item 20C) 32 Income Tax Due (MCIT in Item 31 or Normal Income Tax in Item 28C, whichever is higher) 33 Less: Tax Credits/Payments (attach proof)

33A Prior Year's Excess Credits Other Than MCIT

33B Income Tax Payment under MCIT from Previous Quarter's

33C Income Tax Payment under Regular/Normal Rate from Previous Quarter's

33D Excess MCIT Applied this Current Taxable Year

33E/F Creditable Tax Withheld from Previous Quarter's

33G/H Creditable Tax Withheld per BIR Form No. 2307 for the Fourth Quarter

331/J Foreign Tax Credits, if applicable

33K/L Tax Paid in Return Previously Filed, if this is an Amended Return

33M Income Tax Payment under Special Rate from Previous Quarter/s

33N Special Tax Credits (from Item 44) (from Item 103J/K/L)*

34 Net Tax Payable/(Overpayment) (Item 30 less Item 33Q/ Item 32 less Item 33R)

35 Aggregate Tax Payable/(Overpayment) (Sum of Item 34A & 34B) 36 Add: Penalties

36A Surcharge

36B Interest

36C Compromise

36D Total Penalties (Sum of Items 36A, 368 & 36C)

37 Total Amount Payable/(Overpayment) (Sum of Item 35 & 360) If overpayment, shade one circle only (once the choice is made, the same is irrevocable):

To be refunded OTo be issued a Tax Credit Certificate (TCC) Part III

33E

33G

331

33K

33M

33N

NIA

NIA

NIA

NIA

N A

L NiA

NIA

NIA NIA

(")To be carried over as tax credit for next year/quarter

330/P Other Credits/Payments, specify 330

330/R Total Tax Credits/Payments (Sum of Items 33E, G, I, K, M, N & 0/ 33A, B, C, D, F, H, J, L & P) 33Q

34A

Tax Relief Availment

38 Regular Income Tax Otherwise Due (30% of the Total of Item 23 & 26) (from Item 97J/K/L)* 39 Less: Income Tax Due (from Item 28) (from Item 98J/K/L)* 40 Tax Relief Availment before Special Tax Credit (Item 38 less Item 39) (from Item 99J/K/L)

Breakdown of Item 40 41 Tax Relief Availment on Gross/Net Income (Item 26 x 30% less Item 28) (from Item 100J/K/L) 42 Tax Relief on Special Allowable Itemized Deductions (Item 23 x 30%) (from Item 101J/K/L) 43 Sub Total of Item 41 & 42 which is equal to Item 40 (from Item 102J/K/L)

• ..... • •

NE A 45 Total Tax Relief Availment (Sum of Item 43 & 44) (from Item 104J/K/L) 45A N A I • i45Ef N A

.... . ....

I

I .......... .... • .....

Part IV Details of Payment Particulars I Drawee Bank/Agency

MA

Number

I. 4

Date I

I

(MM/DD/YYYY I

I t I 1

t I I I

46 Cash/Bank Debit Memo

47 Check

48 Tax Debit Memo

49 Others

46A 47A

:46a , 417f/

49A 4913

NOTE: Read Guidelines and Instructions on Page 4. *If with multiple activities per tax regime. use Supplemental Form (Schedule 4)

- THIS FORM IS NOT FOR SALE -

Stamp of Receiving Office/AAB and Date of Receipt (RO's Signature/Bank Teller's Initial)

62B 62A N I A N I A

68A

69A

70A

71A

63A

64A

65A

66A

67A

N I A

N 1 A

Ni A I 1

BIR Form No. 1702 - page 3

Schedule 1 Computation of Net Operating Loss Carry Over (NOLCO)

50 N ! A

N 1 A

50 Gross Income

51 Less: Total Deductions exclusive of NOLCO & Deductions under Special Laws

52 Net Operating Loss Carry Over (to Schedule 1A)

Schedule 1A Net Operating Lo

Year Incurred

53 N A 53A

54 N A 54A

55 55A 1 N A 56 56A I N A 57 Total (Sum of Items 53C, 54C, 55C 8 56

Schedule 2

51

52 N I A

Computation of Available Net Operating Loss Carry Over (NOLCO) (attach additional sheet's, it necessary) Net Operating Loss Carry Over (NOLCO)

1

rrent Year

t 1• 1.

"Computation of Excess Minimum Corporate Income Tax (MCIT) of Previous Year "°

Schedule 3

58

59

60

61

N

N

N

N

Year

A

1

Normal Income Tax as adjusted

L F

1 I

'Reconciliation of Net Income Per Books Against Taxable Income (attach additional sheet's, if necessary)

Excess MC1T over Normal Income Tax as adjusted

I I I 1 I 1 i 1 I t I I I

Balance MCIT Still Allowable as Tax Credit

Special Rate

Expired/Used Portion of Excess M k ExcessNMN:r hep_clthis Current Taxable Year

I I I I I I .I

I T I 1 I 1 .: t • I : v i 1 . 1 . 4

i

I I- I I I I 1 l 1 E ...........A .:

Regular/Normal Rate

62 Net Income/(Loss) per books

Add: Non-deductible Expenses/Taxable Other Income

63

64

65 Total (Sum of Items 62, 63 & 64)

Less: Non-taxable Income and Income Subjected to Final Tax

66

67 1 V 1 V 9 V 1 A V

.-7-711101101 . . . : ..... ..... 68

•

69

70 Total (Sum of Items 66, 67 68 8 69) '

71 Net Taxable Income/(Loss) (Item 65 less Item 70)

We declare under the penalties of perjury, that this annual return has been ma

Executive Director

210-417-515 Title/Position of Signatory

TIN of Signatory

Deductions

73

Treasurer/Assistant Treasurer (Signature over Printed Name)

Title/Position of Signatory

od faith, verfied by us, and to the best of our knowledge and belief, is true and correct, pursuant to the provisions of the National Internal Revenue Code, as amended, and the regulations issued under authority thereof.

72 PARAFINA PresidentNice P ident/Prihr pal Officer/Accredited Tax Agent

(Signature over Printed Name)

Tax Agent Accreditation No./Ally's Roll No. (if applicable) Date of Issuance Date of Expiry TIN of Signatory

77 Amount

2 74 Community Tax Certificate Number 75 Place of Issue - ..... 76 Date of Issue (MM/UD/YYYY)

.. 11 —I

ATC DOMESTIC CORPORATION DESCRIPTION

TAX RATE TAX BASE ATC -DOMESTIC CORPORATION

DESCRIPTION TAX RATE

TAX BASE

IC 010 30% IC 055 2% IC 011 0%

IC 030 10% IC 010 30%

IC 021 exempt

30%

IC 055 2%

IC 031 10% IC 070 30%

IC 055 2%

30% IC 080 2.5%

IC 055 2% IC 101 10%

IC 040 30%

IC 055 2% IC 190 IC 041 30% 10%

IC 055 2% 30%

IC 020 30% IC 191

IC 055 2% 10% 30%

1. a. In General b. Minimum Corporate Income Tax

2. Proprietary Educational Institutions a Proprietary Educational Institution whose gross income from unrelated trade, business

or other activity exceeds fifty percent (50%) of the total gross income from all sources. b. Minimum Corporate Income Tax

3. Non-Stock, Non-Profit Hospitals a Non-Stock, Non-Profit Hospirals whose gross income from unrelated trade, business

or other activity exceeds fifty percent (50%) of the total gross income from all sources. b. Minimum Corporate Income Tax

4. a Government Owned and Controlled Corporations(GOCC), Agencies & Instrumentalities b. Minimum Corporate Income Tax

5. a National Government and Local Government Units (LGU) b. Minimum Corporate Income Tax

6. a. Taxable Partnership b. Minimum Corporate Income Tax

Taxable Income from All Sources Gross Income Taxable Income from All Sources

Taxable Income from All Sources Gross Income Taxable Income from All Sources

Taxable Income from All Sources Gross Income Taxable Income from All Sources Gross Income Taxable Income from Proprietary Activities Gross Income Taxable Income from All Sources Gross Income

7. Exempt Corporation a On Exempt Activities b. On Taxable Activities

8. General Professional Partnership 9. Corporation covered b Special Law* RESIDENT FOREIGN CORPORATION 1. a. In General

b. Minimum Corporate Income Tax 2. International Carriers 3. Regional Operating Headquarters* 4. Corporation covered by Special Law* 5. Offshore Banking Units (OBUs)

a Foreign Currency Transaction not subjected to Final Tax b. Other than Foreign Currency Transaction

6. Foreign Currency Deposit Units (FCDU) a. Foreign Currency Transaction not subjected to Final Tax b. Other than Foreign Currency Transaction

Taxable Income from All Sources

Taxable Income from Within the Philippines Gross Income Gross Philippine Billing Taxable Income

•

Gross Taxable Income on Foreigli Currency Transactions not subjected to Final Tax Taxable Income Other Than Foreign Currency Transaction

Gross Taxable Income on Foreign Currency Transactions not subjected to Final Tax Taxable Income Other Than Foreign Currency Transaction

AFFILIATED NETWORK FOR SOCIAL

ACCOUNTABILITY IN EAST ASIA AND THE PACIFIC CONNECTING CITIZENS TO IMPROVE GOVERNANCE

STATEMENT OF MANAGEMENT'S RESPONSIBILITY FOR ANNUAL INCOME TAX RETURN

April 15, 2013

The Management of Affiliated Network for Social Accountability-EAP Foundation, Inc., a Non- stock, Non-profit Corporation, is responsible for all information and representations contained in the Annual Income Tax Return for the year ended December 31, 2012. Management is likewise responsible for all information and representations contained in the financial statements accompanying the (Annual Income Tax Return or Annual Information Return) covering the same reporting period. Furthermore, the Management is responsible for all information and representations contained in all the other tax returns filed for the reporting period, including, but not limited, to the value added tax and/or percentage tax returns, withholding tax returns, documentary stamp returns, and any and all other tax returns.

In this regard, the Management affirms that the attached audited financial statements for the year ended December 31, 2012 and the accompanying Annual Income Tax Return are in accordance with the books and records of Affiliated Network for Social Accountability-EAP Foundation, Inc., a Non-stock, Non-profit corporation, complete and correct in all material respects. Management likewise affirms that:

(a) the Annual Income Tax Return has been prepared in accordance with the provisions of the National Internal Revenue Code, as amended, and pertinent tax regulations and other issuances of the Department of Finance and the Bureau of Internal Revenue;

(b) any disparity of the figures in the submitted reports arising from the preparation of the financial statements pursuant to financial accounting standards and the preparation of the income tax return pursuant to tax accounting rules has been reported as reconciling items and maintained in the company's books and records in accordance with the requirements of Revenue Regulations No.8-2007 and other relevant issuances;

(c) the Affiliated Network for Social Accountability-EAP Foundation, Inc. , a Non-stock, Non-profit Corporation, has filed all the applicable tax returns, reports and statements required to be filed under Philippine tax laws for the reporting period, and all taxes and the other impositions shown thereon to be due and payable have been paid for the reporting period, except tho c ntested in good faith.

481 GLADIY HONEY F. SELOSA

nce Officer R DEM PARAFINA

Executive Director

ACKNOWLEDGEMENT

SUBSCRIBED AND SWORN to before me this affiant exhibiting to me their Community Tax Certificate

No. 3 53111 qo

No.

issued on at kril 3 ,.1013

issued on at

Doc. No.

Page No.

Book No.

• Series of 2013 4\

A CI?

ANSA-EAP

OPERATIONS

SS)

yid '

ATENEO SCHOOL OF GOVERNMENT

Pacifico Ortiz Hall, Ateneo de Manila

University, Loyola Heights, Quezon City, the

Email: info©ansa-eap.net

Telefax: +632 4266062

LORNA MEDINA-DAVID Certified Public Accountant

189 Adama St. Margelo Subd., Bayan Luma, Imus, Cavite Tel.(046)4715090, Celphone (0918)9238698

E-mail lornamdavid@yahoo.com

REPORT OF INDEPENDENT CERTIFIED PUBLIC ACCOUNTANT TO ACCOMPANY INCOME TAX RETURN

The Board of Trustees Affiliated Network for Social Accountability-EAP Foundation, Inc. (A Nonstock, Nonprofit Corporation) AdMU, Loyola Hts., Quezon City

I have audited the financial statements of Affiliated Network for Social Accountability-EAP Foundation, Inc., A Non-stock, Non-profit Corporation, for the years ended December 31, 2012 and 2011, on which I rendered the attached report dated April 12, 2013.

In compliance with Revenue Regulation V-20, I am stating the following:

• That taxes paid or accrued by the above Foundation for the year ended December 31, 2012 are shown in Note 19 to the Financial Statements;

• That I am not related by consanguinity or affinity to the officers, board of trustees or principal members of the Foundation.

LORNA MEDI A-DAVID CPA Certificate No. 41409 Tax Identification No. 136-722-871 BIR A.N. 09-003230-1-2012 BOA/PRC Registration No. 2459 PTR No. 3244934, January 29, 2013

April 12, 2013

Affiliated Network for Social Accountability-EAP Foundation, Inc. (A non-stock, non-profit Corporation)

Financial Statements As of and for the years ended December 31, 2012 and 2011

And

Report of Independent Auditor

(in Philippine Peso)

•- ,..\'\OA,

Opinion

I believe that the audit evidence I have obtained is sufficient and appropriate to provide a basis for my audit opinion.

LORNA MEDINA-bAVID Certified Public Accountant

189 Adama St. Margelo Subd., Bayan Luma, !mils, Cavite Tel.(046)4715090; Celphone (0918)9238698

E-mail lornamdavidgyahool.com

INDEPENDENT AUDITOR'S REPORT

The Board of Directors ANSA-EAP Foundation, Inc. (A non-stock, non-profit Corporation) AdMU, Loyola Hts., Quezon City

Report on the Financial Statements

I have audited the accompanying financial statements of the Affiliated Network for Social Accountability-EAP Foundation Inc., which comprise the statements of financial position as of December 31, 2012 and 2011 and the statements of income, statement of changes in fund balances and statement of cash flows for the years then ended, and notes, comprising a summary of significant accounting policies and other explanatory information.

Management's Responsibility for the Financial Statements

Management is responsible for the preparation and fair presentation of these financial statements in accordance with Philippine Financial Reporting Standards for Small and Medium-sized entities (IFRS for SMEs) and for such internal control as management determines is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

Auditors' Responsibility

My responsibility is to express an opinion on these financial statements based on my audits. I conducted our audit in accordance with Philippine Standards on Auditing. Those standards require that I comply with ethical requirements and plan and perform the audit to obtain reasonable assurance about whether the financial statements are free from material misstatement.

An audit involves performing procedures to obtain audit evidence about the amounts and disclosures in the financial statements. The procedures selected depend on the auditor's judgment, including the assessment of the risks of material misstatements of the financial statements, whether due to fraud or error. In making those risk assessments, the auditor considers internal control relevant to the entity's preparation and fair presentation of the financial statements in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the entity's internal control. An audit also includes evaluating appropriateness of accounting policies used and the reasonableness of accounting estimates made by management, as well as evaluating the overall presentation of the financial statements.

In my opinion, the financial statements present fairly, in all material respects, the financial position of the Affiliated Network for Social Accountability-EAP Foundation Inc., as of December 31, 2012 and 2011, and the results of its financial performance and its cash flows for the years then ended in accordance with Philippines Financial Reporting Standards for Small and Medium- sized entities.

Report on the Supplementary Information Required Under Revenue Regulations 15-2010 and 19-2011

My audit was conducted for the purpose of forming an opinion on the basic financial statements taken as a whole. The supplementary information required under Revenue Regulations 15-2010 and 19-2011 in Note 19 to the financial statements is presented for purposes of filing with the Bureau of Internal Revenue and is not a required part of the basic financial statements. Such information is the responsibility of management. The information has been subjected to the auditing procedures applied in my audit of the basic financial statements. In my opinion, the information is fairly stated in all material respects in relation to the basic financial statements taken as whole.

LORNA ME INA-DAVID CPA Certificate No. 41409 Tax Identification No. 136-722-871 BIR A.N. 09-003230-1-2012 BOA/PRC Registration No. 2459 PTR No. 3244934, January 29, 2013

April 12, 2013

See Notes to Financial Statements

,

Affiliated Network for Social Accountability-EAP Foundation, Inc. (A non-stock, non-profit Corporation) Statements of Financial Position December 31, 2012 and 2011

Notes 31-Dec

2012 2011

ASSETS

Current Assets

Cash

Receivables

Other Assets

5

6

7

9,830,517

1,136,770

99,718

4,993,364

798,275

Total Current Assets 11,067,005 5,791,639

Noncurrent Assets

Furniture, Fixtures Et Equipment, net 8 282,845 Total Noncurrent Assets 282,845

Total Assets 11,349,850 5,791,639

LIABILITIES AND FUND BALANCE

Current Liabilities

Deferred Grants

Accrued Expense Payables

Other Current Liabilities

9

10

11

10,615,619

80,863

72,019

4,742,336

212,655

20,269 Total Current Liabilities 10,768,500 4,975,260

Total Liabilities 10,768,500 4,975,260

Fund Balance 12 581,350 816,379 Total Fund Balance 581,350 816,379

Total Liabilities and Fund Balance 11,349,850 5,791,639

Affiliated Network for Social Accountability-EAP Foundation, Inc. (A non-stock, non-profit Corporation) Statements of Income For the years ending December 31, 2012 and 2011

Notes 31-Dec 2012 2011

INCOME Grants 13 7,6 36,853 5,815,4 57 Other Receipts 811,730 Donation - Membership Fund 14 1,005,000 Interest Income 34,583 12,340

Total Receipts 8,483,166 6,832,797

EXPENSES

Program Expenses 15 7,6 36,853 5,765,812 Administrative Expenses 16 1,0 81,342 250,606

Total Expenses 8,718,195 6,016,418

EXCESS OF INCOME OVER EXPENSES (235,029) 816,379

See Notes to Financial Statements

Affiliated Network for Social Accountability - EAP Foundation, Inc. (A non-stock, non-profit Corporation) Statement of Changes in Fund Balance For the Years Ended December 31, 2012 and 2011

Unrestricted Restricted

Note

General Fund

Project Fund Total

Fund Balance as of January 1, 2012

Excess (Deficiency) of Income over Expenses

754,394

(235,029)

61,985 816,379

(235,029)

Balance as of December 31, 2012 2 519,365 61,985 581,350

Fund Balance as of January 1, 2011

Excess (Deficiency) of Income over Expenses 754,394 61,985 816,379

Balance as of December 31, 2011 2 754,394 61,985 816,379

See Notes to Financial Statements

Affiliated Network for Social Accountability-EAP Foundation, Inc. ( A non-stock, non-profit Corporation ) Statements of Cash Flows For the years ended December 31, 2012 and 2011

Notes

31-Dec

2012 2011

Cash Flows from Operating Activities

Excess ( Deficiency) of Income over Expenses for the year

Adjustments for : (235,029) 816,379

Depreciation 38,534

Excess ( Deficiency) of Income over Expenses (196,495) 816,379 Before Working Capital Changes

Changes in Assets & Liabilities ( Increase) Decrease (Increase)Decrease in Receivables 6 (338,495) (798,275) (Increase)Decrease in Other Assets 7 (99,718) Increase (Decrease) in Deferred Grants 9 5,8 73,283 4,7 42,336 Increase (Decrease) in Accrued Expense Payables 10 (1 31,792) 212,655 Increase (Decrease) in Other Non-Current Liability

Net Cash 11 51,750 20,269

provided by operating activities 5,1 58,533 4,9 93,364

Cash Flows from Investing Activities

Addition /Acquisition of Property & Equipment Net

8 (321,379) Cash Used in Investing activities (321,379)

Net Increase/Decrease in Cash 4,8 37,154 4,9 93,364

Cash

Beginning of Year 4,9 93,364

End of year 5 9,830,517 4,993,364

See Notes to Financial Statements

Affiliated Network for Social Accountability-EAP Foundation, Inc. (A non-stock, non-profit Corporation) Notes to Financial Statements As of and for the year ended December 31, 2012 and 2011

1. Organization

The Affiliated Network for Social Accountability-EAP Foundation, Inc. is a non-stock, non profit corporation registered with the Securities and Exchange Commission (SEC) on March 8, 2-11 per SEC registration # CN201104082 with the primary purpose of promoting the monitoring by citizens of government performance and the protection of the rights and welfare of communities by:

Promoting programs that monitor the quality of public service delivery and transparency of government transactions;

• Promoting the mainstreaming of the social accountability (Sac) approach among partners in the East Asia-Pacific region providing funding and other resource support;

• Providing networking, capacity building and knowledge generation services to partners and other institutions;

The Foundation's income, no part of which inures to the benefit of any individual, is exempt from income tax as set forth in Section 30(E) of the Tax Reform Act of 1997 (RA-8424). However, all income of whatever kind or character which the Foundation may derive from any of its properties, real or personal, or from any activity conducted for profit, regardless of the disposition made of such income, shall be subjected to income tax.

Being a newly incorporated Foundation, the registration with BIR was subsequently made on April 20, 2011 and regular operations commenced immediately thereafter.

The registered office address of the Foundation is ASOG, AdMU, Loyola Hts., Quezon City. In May 2012. the office has moved to 3 rd Fir Mansi Bldg, 337 Katipunan, Loyola Hts., Quezon City.

The financial statements have been approved for issuance by the Board of Trustees on March 25, 2013. The Board of Trustees is empowered to make revisions even after the date of issue.

2. Significant Accounting Policies

2.1_Basis of Preparation

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented, unless otherwise stated.

Statement of Compliance

The accompanying financial statements of the Foundation have been prepared in accordance with the Philippine Financial Reporting Standards for Small and Medium-sized entities (PFRS for SMEs).

Basis of Measurement

The financial statements of the Foundation have been prepared on a historical cost convention.

Functional and Presentation currency The financial statements of the Foundation are presented in Philippine Peso (P) which is also the functional currency. All amounts are rounded to the nearest Philippine Peso unit unless other indicated.

Use of Judgements and Estimates The preparation of the Foundation's financial statements in conformity with PFRS for SMEs requires the use of certain critical accounting estimates. It also requires management to exercise its judgment in the process of applying the Foundation's accounting policies. The areas involving a higher degree of judgment or complexity, or areas where assumptions and estimates are significant to the financial statements are disclosed in Note 3.

2.2 Financial Instruments Date of Recognition Financial assets and financial liabilities are recognized in the statement of assets, liabilities and fund balances when it becomes a party to the contractual provisions of the instrument.

Initial Recognition Measurement Financial instruments are recognized initially at transaction price, including transactions costs, except in the initial measurement of financial assets and financial liabilities that are measured at fair value through profit and loss, unless the arrangement constitutes , in effect a financing transaction. If the arrangement constitutes a financial transaction, The Foundation measures the financial assets or financial liability at the present value of the future payments at a market rate of interest for a similar debt instrument.

Classification of Financial Instruments The Foundation classifies its financial assets and financial liabilities as basic financial instruments. Management determine the classification of its financial assets and liabilities at initial recognition and, where allowed and appropriate, re-evaluates such designation at every reporting dates.

Subsequent Measurement The Foundation measures the financial assets and financial liabilities at amortized cost less impairment.

Determination of Amortized Cost The amortized cost of financial asset and financial liability at each reporting date is the net of the amount at which the financial assets or financial liability is measured at initial recognition minus any repayments of the principal, plus or minus the cumulative amortization using the effective interest rate (EIR) method of any difference between the amount at initial recognition and maturity amount, minus, in the case of financial assets, any reduction for impairment or collectability.

Financial assets and financial liabilities that have no stated interest rate and are classified as current assets or current liabilities are initially measured at an undiscounted amount.

Impairment of Financial Instruments Measured at Cost less Amortized Cost At the end of each reporting period, The Foundation assess whether there is objective evidence of impairment of any financial assets that are measured at cost or amortized cost. If there is objective evidence for impairment, the Foundation recognizes an impairment loss in the statement of income immediately.

If, in a subsequent period, the amount of impairment loss decreases and the decrease can be related objectively to an event occurring after the impairment was recognized, the Foundation reverses the previously recognized impairment loss either directly or adjusting the allowance account. The reversal which shall not result in a carrying amount of the financial asset ( net of allowance account) that exceeds what he carrying amount would have been had the impairment not previously recognized. The foundation recognizes the amount of reversal in the statement of income immediately.

Derecognition of Financial Instruments The Foundation shall derecognize financial assets only when the contractual rights of the cash flow from the financial asset expire or settled. Or the Foundation transfers to another party substantially all of the risks and rewards of ownership of the financial assets, or the Association, despite having retained some significant risks and rewards of ownership, has transferred control of the assets to another party and the other party has the practical ability to sell the asset in the entirety to an unrelated third party and is able to exercise that ability unilaterally and without needing to impose additional restriction on the transfer.

The Foundation shall derecognize a financial liability only when it is extinguished, cancelled, or expired.

Basic Financial Instruments

t=1 Cash (73 Cash includes cash on hand and in bank.

Debt Instrument

The Foundation's receivables, other assets, deferred grants, accrued expenses and other liabilities are included in this category.

Cash Cash includes cash in bank and cash on hand. Cash in banks are deposits held at call with banks. The Foundation reconciles the books and bank balances regularly as part of its cash monitoring and internal control measures. Cash on hand are working funds used for small payments not covered by checks.

Receivables Receivables are measured at transaction cost. These include advances to officers and employees.

Other Current Assets Other current assets include prepayments such as rental deposit on the property leased that are initially recorded at transaction cost and subsequently measured at cost less impairment loss, if any.

Deferred Grants Deferred grants include support from donor received and applicable in succeeding years based in the memorandum agreement signed between the Foundation and the donor.

Accrued Expense Payables Other payables represent accrued project expenses and are measured at transaction cost.

Other Current liabilities Other current liabilities include statutory obligations and withholding taxes as of the end of the period.

2.3 Furniture, Fixtures and Equipment Furniture, fixtures and equipment are carried at cost less accumulated depreciation and any impairment in value.

The initial cost of property and equipment comprises its purchase price, taxes and any directly attributable costs of bringing the assets to its working condition and location for its intended use. Expenditures incurred after the asset has been put to operations, such as repairs and maintenance costs, are normally charged to operations in the period the costs are incurred. In situations where it can be clearly demonstrated that the expenditure has resulted in an increase in future economic benefits expected to be obtained from the use of an item beyond its originally assessed standard of performance, the expenditure are capitalized as an additional cost of property and equipment.

Property and equipment includes furniture, fixtures and equipment that are being depreciated over its useful lives from 3 to 5 years using the straight-line method of depreciation.

Depreciation is charged so as to write-off the cost of assets, over the estimated useful lives. When assets are retired or otherwise disposed of, both the cost and the related accumulated depreciation are removed from the accounts and any resulting gain or loss is credited or charged to current operations.

The useful lives and depreciation method are reviewed periodically to ensure that the period and method of depreciation are consistent with the expected pattern of economic benefits from items of property and equipment. Yearly inventory count of furniture and fixtures are conducted. Items are retired and deleted from the list once identified as either broken, not working and/or not economically repairable.

2.4 Impairment of Non-financial Assets

The carrying amounts of the Foundation's non-financial assets such as furniture, fixtures and equipment and other current assets are re viewed at the end of each reporting period to determine whether there is any indication of impairment. If any of such indication exists, the Foundation makes a formal estimate of the asset's recoverable amount.

The recoverable amount is the higher of an assets or its generating unit's fair market value less costs to sell and its value in•use. The fair value less costs to sell is the amount obtainable from

the sale of the asset in an arm's length transaction. In assessing value in use, the estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects the current market assessments of the time value of money and the risk specific to the asset. For an asset that does not generate cash flows independent of those from other assets, the recoverable amount is determined for the cash generating unit to which the asset belongs.

Whenever the carrying amount of an asset or its cash generating unit exceeds it recoverable amount, the asset is considered impaired and is written down to tis recoverable amount and an impairment loss is recognized in the statement of comprehensive income.

An impairment loss is reversed if there has been a change in the estimates used to determine the recoverable amount. An impairment loss is reversed only to the extent that the asset's carrying amount does not exceed the carrying amount that would have been determined, net of depreciation or amortization, if no impairment loss has been recognized. Reversals of impairment are re cognized in the statements of income

2.5 Leases Leases in which substantially all risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments, including prepayments, made under operating leases (net of any incentives received from the lessor) are charged to profit and toss on a straight-line basis over the period of the lease.

Refundable deposits are refundable at the end of the lease term. Rental deposits are recognized as other current assets.

2.6 Income and Expense Recognition Income is recognized to the extent that it is probable that the economic benefits will flow to the Foundation and the income can be reliably measured.

The Foundation made the following specific recognition criteria before income is recognized:

1. Income from restricted support including government grants is recognized upon fulfillment of the donor-imposed conditions attached to the support and/or to the extent the expenses are incurred.

Restricted support for which restrictions and conditions have not yet been met are classified as deferred grant. At project completion date, any excess funds in the deferred grant are returned to the donors unless otherwise agreed by both parities that the excess shall be retained by the Foundation and therefore credited to unrestricted support.

2. Income from unrestricted support is recognized upon receipt of the support and expenses are reported when incurred.

3. Interests on Bank deposits - income is recognized as the interest accrues, taking into account the effective yield of the asset.

Program expenses and other expenses are recognized in the statement of income at date they are incurred.

2.7 Foreign Exchange Transaction All foreign currency denominated assets is translated at the bank exchange rate at balance sheet date. Exchange gains or losses from the translation at end of the year are charged to operations.

2.8 Provisions Provisions are recognized when (a) the Foundation has a present obligation (legal or constructive) as a result of past event, (b) it is probable that an outflow of resources embodying economic benefits will be required to settle the obligation and (c) a reliable estimate can be made of the amount of the obligation. If the effect of the time value of money is material, provisions are determined by discounting the expected future cash flows at a pre-tax rate that reflects the current market assessments of the time value of money and, where appropriate, the risks specific to the liability. Where discounting is used, the increase in the provision due to the passage of time is recognized as interest expense.

2.9 Contingencies Contingent liabilities are not recognized in the financial statements. These are disclosed unless the possibility of an outflow of resources embodying economic benefits is remote. Contingent

assets are not recognized in the financial statements but disclosed when an inflow of economic benefits is probable.

2.10 Subsequent Events

Post year-end events that provide additional information about the Foundation's position at the statement of assets, liabilities and fund balances date (adjusting events) are reflected in the financial statements. Post year-end events that are not adjusting events are disclosed in the notes to financial statements when material.

3. MANAGEMENT'S SIGNIFICANT ACCOUNTING JUDGMENTS AND ESTIMATES

The preparation of the Foundation's financial statements in conformity with Financial Reporting Framework (in reference to the Philippine Financial Reporting Standards) requires management to make estimates and assumptions that affect the amounts reported in the Foundation's financial statements and accompanying notes. The estimates and assumptions used in the Foundation's financial statements are based upon management's evaluation of relevant facts and circumstances as of the date of the Foundation's financial statements. Actual results could differ from such estimates.

Judgments

In the process of applying the Foundation's accounting policies, management has made the following judgment, apart from those involving estimation, which have the most significant effect on the amounts recognized in the financial statements.

Determining Functional Currency

The Foundation has determined that its functional currency is the Philippine peso which is the currency of the primary environment in which the Foundation operates.

Estimates

The estimates and assumptions used in the financial statements are based upon management's evaluation of relevant facts and circumstances of the Foundation's financial statements. Actual results could differ from those estimates.

The following represents a summary of the significant estimates and judgments and related impact and associated risks in the Foundation's financial statements.

Impairment of receivables

The Foundation reviews its receivables portfolio to assess impairment. In determining whether an impairment loss should be recorded in the statement of income the Foundation makes judgments as to whether there is an observable data indicating that there is a measurable decrease in the estimated future cash flows from a portfolio of loans and receivables before the decrease can be identified with an individual receivable in that portfolio.

Useful lives of furniture, fixtures and equipment Furniture, fixtures Et equipment are depreciated over their useful lives. Useful lives are based on the management's estimates of the period that the assets will generate revenue, which are periodically reviewed for continued appropriateness; Changes to estimates can result in significant variations in the carrying value and amounts charged to the statement of income in specific periods.

As of December 31, 2012 and 2011, the carrying value of furniture, fixtures if equipment amounts to P282,845 and Zero in 2011, respectively (Note 8)

5. Cash

This account comprise of cash on hand and cash deposits in banks.

6. Receivables

This account consists mainly of advances to employees for program related requirements.

No provision for doubtful account has been provided since after a study of the estimated collectability of the receivable balances and evaluation of such factors as aging of the accounts and collection experience, the existing accounts are considered current and / or active accounts.

7. Other Current Assets

This account consists of one (1) month advance rental and two (2) months rental guarantee deposit which shall be held by the lessor to answer for any lessee's obligation.

8. Property and Equipment

This account consists of major building improvement on the property being used as welt as furniture It fixtures purchased during the year.

Breakdown follows:

Furniture Et

Fixtures Equipment 2012 2011 Cost

Balance, January 1

Additions 59,991 261,388 321,379 Disposals during the year

Balance, December 31 59,991 261,388 321,379 Accumulated Depreciation

Balance, January 1

Depreciation 7,603 30,931 38,534 Balance, December 31 7,603 30,931 38,534

Net Book Value at December 3 52,388 230,457 282,845

Depreciation and amortization during the year amounted to P 38,534 in 2012 and Zero in 2011 as shown as part of expenses in the Statement of Income.

9. Deferred Grants

Deferred grants represent funds unspent for the period and are applicable to succeeding periods and are recorded as income upon liquidation of the project expenses. The funds are to be used only for specific projects and should be in compliance with the terms and conditions of the grant. Unused funds at the end of the project are returned unless otherwise agreed to be retained by the Organization. Certain funds and reflows, therefore, of completed projects may be transferred to the general fund and other contributions upon approval of the BOT.

Deferred grants amounted to P 10,615,619 in 2012 and P 4,742,336 in 2011.

The breakdown is the following:

2012 2011 Receipts Expenses Balance Balance

Global Partnership Fund 4,367,940 1,077,892 3,290,048 4,367,940 The World Bank 374,396 374,396 374,396 Partnership Transparency Fund 1,814,820 108,438 1,706,382 Foundation Open Society Inc 1,962,498 1,962,498 Coffey International Development Pty Ltd. 9,732,818 4,113,628 5,619,190

18,252,472 7,636,853 10,615,619 4,742,336

c.,

Cyr

10. Accrued Expense Payables

0

This account consists of project expenses incurred which amounts to P 80,863 in 2012 and P212,655 in 2011.

11. Other Current Liabilities

This account consist of mandatory contributions and withholding taxes amounting to P 72,019 and P20,269 in 2012 and 2011 respectively.

12. Fund Balance

Fund Balance as at December 31, 2012 and 2011 consist of restricted and unrestricted funds as follows:

Restricted fund includes operating fund grants received from certain funding agencies, which can on be used for specific projects upon approval by the grantor.

Unrestricted fund includes membership fund received from members, which can be used for the regular operations of the Foundation..

13. Grants

This account consists of grants received from several funding agencies to carry out specific programs based on budget submitted and approved.

All related expenses pertaining to such programs have been classified under the Project expenses account in the statements of income.

Grants realized during the year as follows: 2012 2011

Donor

Global Partnership Fund

Global Partnership Fund

The World Bank

USAID-LINC -EG

Partnership Transparency Fund. Inc.

Foundation for Open Society Institute

Coffey International Development Pty Ltd

Project

Strategic Planning workshop

Training on Social Accountability

Budget Transparency Forum

CSO Workshop on Nat'l Budget

Enhancing Transparency Initiatives

Check My School

Citizen Participatory Audit Prog

1,077,892

374,396

108,438

1,962,498

4,113,628

2,386,539

1,927,474

1,327,844

173,600

7,636,853 5,815,457

In 2012 the following are the grants generated:

Coffey International Development Pty Ltd, the service provider of the Philippine Australia Public Financial Management Program (PFMP) on behalf of the Australian Agency for International Development (AusAID) granted ANSA-EAP Foundation, Inc. the funds to undertake the project on enhancing transparency, accountability and citizen participation in the public audit process. The project start date is March 26, 2012 and completion date is March 25, 2014.

The Partnership for Transparency Fund, Inc. (PTF) in partnership with the Makati Business Club (MBC) engaged the ANSA - EAP Foundation, Inc. for the grant management an knowledge sharing components of the project of PTF with the Australian Agency for International Development (AusAID) on Enhancing the Impact of Citizen-Led Transparency Initiative for Good governance Project. The project period is 24 months commencing on September 1, 2012 and ending on August 31, 2013.

The Foundation for Open Society Institute (FOSI) awarded the ANSA-EAP Foundation, Inc. 9 grant to establish an innovative partnership model for open government through Checkmyschool.org (CMS) 2.0, a platform for online mapping and community monitoring of public education services in the Philippines. The project period is for April 2012 to March 31, 2013.

The following are the 2011 project grants:

The Global Partnership Fund (GFP), housed at the Institute of Governance Studies provided ANSA-EAP Foundation, Inc. the following:

• a grant towards hosting the strategic planning workshop for the Global Partnership Panel and to develop the Global ANSA website. The contract is from May 12, 2011 to November 30, 2011 but has been extended up to December 31, 2012.

• a grant towards hosting training on Social Accountability Tools for its partner organizations from August 3-7, 2011 in Bangkok, Thailand.

The International Bank for Rural Reconstruction and Development (The World Bank) made available to ANSA-EAP Foundation, Inc. the following:

• a grant to support the " Second Round of the Budget Transparency Forum." The term of the contract is from May 12, 2011 to November 30, 2011 but has been extended up to May 31, 2012.

The USAID thru LINC-EG provided funds to conduct of Civil Service Organization (CSO) Workshop/ FGD and the Forum bringing the 6 pilot agencies and the CSO's participating in the implementation of National Budget Memorandum (NBM) and other counterparts from October 24 to November 11, to 2011.

The funds received from the above donation and grants were used for purposes, objectives and activities as described in the respective grant agreements.

14/ Donation-Membership Fund

This account represents contribution from members received in 2011 as follows:

Name Amount

Ateneo de Manila University 1,000,000

Juna Miguel M. Luz 1,000

TeTen Masduki 1,000

Angelita Gregorio-Medel 1,000

Theary Seng 1,000

Antonio G. M. La Vina 1,000

Total 1,005,000

15. Program Expenses

This account consists of expenses directly related to the different programs incurred as follows:

•

Cs?

2012 2011

Sub-Grant 807,100 1,090,000

Professional Fee 3,498,019 985,703

Travel 869,277 2,775,846

Printing & Supplies 517,459 218,375

Postage Telephone & Telegraph 86,914 25,824

Rental 36,402 -

Photographic & Audio Visual 355,815 237,200

Transportation 341,137 80,416

Representation 595,754 237,866

Utilities 489,365 27,328

Forex Loss 34,693 84,157

Bank Charges 4,918 3,097

Total 7,636,853 5,765,812

The total program expenses represents 88 % in 2012 and 96 % in 2011 of the expenses incurred.

16. Administrative Expenses

This account consists of overhead expenses incurred in coordinating all activities, programs, and services including the administrative, finance & personnel expenses of the corporation.

2012 2011

Salaries & Other Benefit

SSS, PHIC, HDMF Contribution

437,267

24,830

Professional Fees 97,974 72,222

Taxes, Licenses & fees 10,182 4,287

Transportation 97,178 4,984

Software 43,969

Representation 14,392 9,098

Insurance (Health Card) 9,562 81,890

Printing & Supplies 32,809 8,128

Rental 294,992

Forex Loss 20,146 24,869

Bank Charges 3,376 350

Depreciation 38,534

Miscellaneous 100 810

Total 1,081,343 250,607

Administrative expenses incurred represent 12% in 2012 and 4% in 2011 of the expenses incurred.

A substantial number of volunteers who have made significant contributions of their time to support and participate in the program implementation of the Foundation as well as the in kind contributions of partner organizations. The value of this contributed time is not reflected in the financial statements since it is not susceptible to objective measurement or valuation and no monetary consideration is involved in this arrangement.

17. Related Party Disclosures

The Foundation's related party transactions arise from non-interest bearing advances of the staff amounting P 1,136,770.

a

rs

r '

18. Commitment and Contingencies

Lease Commitments

The Foundation entered into a lease agreement under operating lease with MANSI Realty, Inc. for the lease of the unit space, where the office of the Foundation is situated. The term of the lease is for a period of two (2) years commencing May 1, 2012 and ending on April 30, 2014 and to be renewed subject to mutually agreement by both parties.

The rent shall be increased by 10% per annum computed on the basis of the preceding year's monthly rental. The agreement provides that rental shall be paid not later than the 5 th day of each and every month. The total monthly expense charged to program amount to P 36,402 and admin amount to P294,992 or a total of P331,394 for the year ended December 31, 2012.

19. Supplementary Information Under Revenue Regulations

A. Revenue Regulation (RR) No. 15-2010

On November 25, 2010, the BIR issued RR No. 15-2010 which prescribes the additional procedural and/ or documentary requirements in connection with the preparation and submission of financial statements accompanying the tax return. Under the said RR, companies are required to disclose, in addition to the disclosure mandated under PFRS and such other standards and/ or conventions that may heretofore be adopted, in the Notes to the Financial Statements, information on taxes, duties and fees paid or accrued during the taxable year. In compliance with the requirements set forth by RR No. 15-2010, hereunder are the information on taxes, duties and license fees paid or accrued during the taxable year.

This account consists of the following:

a) The Foundation is a non-taxable entity and it does not involve on any sale of services or goods, thus, taxes related to VAT disclosures is not required.

b) Taxes and Licenses for 2012 and 2011

Taxes and licenses, local and national include the following: 2012 2011

Date Paid OR # Amount

BIR Annual Registration Fee 13-Jan-12 201300000909 500.00 500

Barangay Clearance 2,000.00

SEC Registration 1,020

SEC Membership Book 75

Community Tax Certificate 19-Jan-12 196263 500.00 500

Mayor's Permit 31-Jan-12 A6C0R1509102-6 7,182 2,192

10,182 4,287

Withholding Taxes 2012 2011

Withholding Tax on Compensation 22,500

Expanded Withholding Taxes 383,032 184,534

) Tax assessment and cases The Foundation has no deficiency tax assessments, whether protested or not. The Foundation has not been involved in any tax cases under preliminary investigation, litigation and/or prosecution in courts or bodies outside the BIR.

B. Revenue Regulation (RR) 19-2011

RR No. 19-2011 was issued on December 9, 2011 to prescribe the new BIR forms that will be used for Income tax filing covering and starting with calendar year 2011, and to modify Revenue Memorandum Circular No. 57-2011.

Pursuant to Section 244 in relation to Section 6(H) of the National Internal Revenue Code of 1997 (Tax Code), as amended, these regulation are prescribed to revise BIR Forms Nos. 1700, 1701 and 1702 to reflect the changes in information requested from said BIR Forms and to enable the said forms to be read by optical character reader. Under guidelines and instruction of BIR form No. 1702, page 4, the following schedules are prescribed under existing revenue issuances which must from part of the Notes to the Audited Financial Statements.

1/ Receipts

2/ Cost of Services

3/ Non Operating and Taxable Other Income

Exempt Special Regular 8,448,583

7,636,853

4/ Itemized Deductions

Salaries & Other Benefits 437,267

SSS, PHIC, HDMF Contribution 24,830

Professional Fees 97,974

Taxes, Licenses & fees 10,182

Transportation 97,178

Representation 14,392

Printing & Supplies 32,809

Rental 294,992

Depreciation 38,534

Insurance (Health Card) 9,562

Forex Loss 20,146

Bank Charges 3,376

Miscellaneous 100

1,081,342

5/ Taxes, Licenses & Fees

BIR Annual Registration Fee 500

Community Tax Certificate 500

Barangay Clearance 2,000

Mayor's Permit 7,182

4