Note 8 – Biological Assets
2024 2023
Breeding Stocks ₱ 12,701,420.00 ₱ 6,627,820.00
Plants and Trees 7,512,200.95 6,520,971.05
Total ₱ 20,213,620.95 ₱ 13,148,791.05
Note 9 – Liabilities - Financial Liabilities
Financial Liabilities
Accounts Payables ₱141,031,284.69 ₱114,651,898.86
Due to Officers and Employees 9,544,071.52 9,625,876.68
Loans Payable - Domestic 415,137,992.71 219,382,335.03
Total ₱565,713,348.92 ₱343,660,110.57
The account is further broken down into current and non-current liabilities, as follows:
2024 2023
Current Non-Current Current Non-Current
Accounts Payable 141,031,284.69 114,651,898.86
Due to Officers and 9,544,071.52 9,625,876.68
Employees
Loans Payable – 415,137,992.71 16,391,198.53 202,991,136.50
Domestic
Total ₱150,575,356.21 ₱415,137,992.71 ₱140,668,974.07 ₱202,991,136.50
Total Financial
₱565,713,348.92 ₱343,660,110.57
Liabilities
Loans Payable - Domestic represents loans with the Land Bank of the Philippines
(Dumaguete City Branch) in the amount of ₱415,137,992.71. This amount was used to
finance the following:
a. Construction of Tanjay City Government Center ₱ 346,421,253.50
b. Purchase of Lot (New Motor pool Site) 23,720,020.00
c. Construction of Drainage System 44,996,719.21
TOTAL – Loans Payable- Domestic ₱ 415,137,992.71
For the Construction of Tanjay City Government Center, the Loan Terms are as
follows, per Notice of Loan Approval, dated March 22, 2023:
₱600.00 million or contract price whichever is lower but not to exceed the
Amount
Net Borrowing Capacity (NBC) of the LGU
To finance the construction of the Tanjay City Government Center under
Purpose
design and build scheme
Landbank’s prevailing rate at the time of availment, subject to quarterly
Interest Rate
re-pricing
One (1) year from date of loan signing. If no availment is made within one
Availability
(1) year, the Bank has the option to terminate the loan.
24
