Note 25 – Financial Expenses
2024 2023
Interest Expense ₱ 513,544.68 ₱ 608,383.07
Bank Charges 12,350.00 42,130.00
Total Financial Expenses ₱ 525,894.68 ₱ 650,513.07
Financial Expenses include interest expenses represent interests paid on loan availed
from Land Bank of the Philippines-Dumaguete for the purchase of three heavy equipment
last CY 2019 and the construction of 2-storey public market (wet section) availed for CY
2023. It also includes bank charges representing checkbooks acquired.
Note 26 – Non-Cash Expenses
This consists of the following:
Depreciation and Amortization
Depreciation – Infrastructure Assets ₱ 1,758,711.46 ₱ 1,722,254.47
Depreciation – Buildings and Other
Structure 1,917,720.22 1,237,261.06
Depreciation – Machinery and Equipment 5,261,159.53 5,223,218.94
Depreciation – Transportation Equipment 892,390.19 1,008,715.17
Depreciation –Furniture, Fixtures and Book 105,425.59 141,838.09
Depreciation – Other Property, Plant and
Equipment 5,686.20 5,686.20
Total Non-Cash Expenses ₱ 9,941,093.19 ₱ 9,338,973.93
Note 27 – Reconciliation of Net Cash Flows from Operating Activities to
Surplus/(Deficit)
Surplus/(Deficit) ₱ 71,732,218.51 ₱ 69,043,362.80
Non-cash transactions
Depreciation 9,941,093.19 9,338,973.93
Gain from sale of disposal of Property,
Plant and Equipment (506,650.00) 0.00
Increase (Decrease) in payables 1,370,257,376.43 24,577,374.19
(Increase) Decrease in other current assets (3,250,759.88) 11,366,305.71
(Increase) Decrease in receivables (21,048,103.00) (1,723,244.98)
Prior Year’s Adjustments 387,725.19 1,132,552.87
Net Cash from Operating Activities ₱ 1,427,512,900.44 113,735,324.52
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