Republic of the Philippines
Province of Negros Oriental
Municipality of Manjuyod
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
December 31, 2024
1. Profile
The Municipality of Manjuyod is one of the northern towns of Negros Oriental. It was
created by virtue of Executive Order No. 37 dated May 13, 1908. It is located 58.3
kilometers north of Dumaguete City, the capital city of the province. It is bounded in the
south by the City of Bais, north by the Municipality of Bindoy, west by the Municipality
of Mabinay, and in the east by the Tañon Strait. Specifically, it lies within the polar
geographic coordinates between 9035’ and 9045’ north latitude and between 122000’ and
123 10’ east longitude.
Manjuyod is a 2nd class municipality and has a total land area of 264.60 square
kilometers. It is composed of 27 barangays.
2. Financial Statement Presentation
The consolidated financial statements of the LGU have been prepared in accordance with
and comply with the Philippine Public Sector Accounting Standards (PPSAS). The
consolidated financial statements are presented in pesos, which is the functional and
reporting currency of the LGU and all values are rounded to nearest thousand (P000).
The accounting policies have been applied starting the year 2015.
3. Summary of Significant Accounting Policies
3.1 Basis of accounting
The consolidated financial statements are prepared on an accrual basis in
accordance with the Philippine Public Sector Accounting Standards (PPSAS).
3.2 Consolidation
The controlled entities (funds) are all those over which the controlling entity
has the power to govern the financial and operating policies. Inter-group
transaction, balances and unrealized gains and losses on transactions between
entities and funds are eliminated in full. The LGU maintains special accounts
under the General Fund for the following economic enterprises it operates:
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