Note 9. Financial Liabilities
Current Financial Liabilities
2024 2023
Financial Liabilities
Payables
Accounts Payable ₱ 11,106,050.89 ₱ 13,030,523.04
Due to Officers and Employees 793,662.53 643,476.61
Total Payables 11,899,713.42 13,673,999.65
Bills/Bonds/Loans Payable
Loans Payable - Domestic 12,182,894.64 9,197,309.06
Total Bills/Bonds/Loans Payable
Total Financial Liabilities ₱ 24,082,608.06 ₱ 22,871,308.71
Non-Current Financial Liabilities
Financial Liabilities
Bills/Bonds/Loans Payable
Loans Payable - Domestic ₱ 61,735,873.79 ₱ 64,594,754.04
Other Payables 4,186,940.96 5,407,967.15
Total Bills/Bonds/Loans Payable
Total Financial Liabilities ₱ 65,918,048.67 ₱ 70,002,721.19
Trade payables are non-interest bearing and are normally settled on 60-days terms. Other payables
are also non-interest bearing without a fixed term.
Loan Payable-Domestic compost of loans for the Construction of Tayasan Public Market,
Acquisition of Various Brand-New Heavy Equipment and Construction of Multi-Purpose Hall, all
at Land Bank of the Philippines. Domestic loan is payable in 32, 26, and 48 quarterly
amortization/payment respectively with interest rate subject to repricing. Current portion of Loan
Payable- Domestic of P12,182,894.64 is included in the current portion of financial liabilities total.
Note 10. Inter – Agency Payables
Due to BIR ₱ 3,098,835.75 ₱3,651,164.15
Due to GSIS 2,646,068.89 2,114,516.74
Due to PAG-IBIG 649,932.63 224,844.36
Due to PHILHEALTH 4,083,455.60 1,764,983.71
Due to NGAs 79,312,051.34 91,003,266.68
Due to GOCCs 153,742.73 91,998.93
Due to LGUs 15,691,217.38 13,957,548.60
Total Inter-Agency Payables ₱ 105,635,304.32 ₱112,808,323.17
The first four accounts represent the amount deducted from the salaries and wages of officers and
employees and also include the employer’s share; such amounts were remitted to the respective
government agencies immediately in the succeeding month after deductions. The remaining
accounts represent balances of funds received by the LGU for specific purposes.
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