Financial Highlights
The financial condition and results of operation of the Municipal Government of Tayasan as
of December 31, 2024, with comparative figures for CY 2023, are summarized as follows:
2024 2023 Increase
Accounts
(in ₱) (in ₱) (Decrease)
Statement of Financial Position
Assets 713,819,363.93 711,472,978.63 2,346,385.30
Liabilities 224,762,495.38 234,329,818.29 (9,567,322.91)
Government Equity 489,056,868.55 477,143,160.34 11,913,708.21
On the other hand, the Statement of Financial Performance reflects increases in revenue,
expenses, and surplus, as shown below:
Results of Operations
Revenue 244,131,425.99 189,534,255.59 54,597,170.40
Personnel Services 71,836,918.61 67,764,647.12 4,072,271.49
Maintenance and Other 137,317,664.05 79,220,798.40 58,096,865.65
Operating Expenses
Financial Expenses 5,631,917.09 3,092,767.75 2,539,149.34
Non-cash Expenses 13,851,460.18 9,353,485.16 4,497,975.02
Net Financial Assistance/ (3,644,084.85) (8,283,843.55) (995,352.01)
Subsidy
Non-operating Income 73,330.00 1,068,682.01 234,593.04
Net Surplus (Deficit) 11,922,711.21 22,887,395.62 5,876,522.45
Independent Auditor’s Report on The Financial Statements
The Auditor rendered a qualified opinion on the fairness of the presentation of the financial
statements for the year ended, due to the effects of the following exceptions, as discussed in
Part II of this Report:
1. The Municipality of Jimalalud did not conduct the physical count of Property, Plant, and
Equipment (PPE) as provided under the guidelines and procedures on the one-time
cleansing of PPE, thus affecting the fairness of presentation of the PPE accounts amounting
to ₱571,023,437.67 in the financial statements (FS) at year-end.
ii
