Capital management
The primary objective of managing the LGU’s capital is to ensure that
there is sufficient cash available to support the LGU’s funding
requirements, including capital expenditure, to ensure that the LGU
remains financially sound.
Note 4 – Cash and Cash Equivalents
Cash and Cash Equivalents amounting to ₱35,172,328.44 and ₱53,455,071.72 in
CYs 2024 and 2023 represent 55.79% and 73.65%, respectively, of the total current
assets. These consist of the following:
2024 2023
Cash on Hand
Cash – Local Treasury ₱ 0.00 ₱ 109,074.45
Cash in Bank – Local Currency
DBP – Checking Account #0-01443-
740-0 (GF) 824,602.27 5,233,344.43
LBP – Current Account # 0292-1058-
86 (GF) 319,845.51 12,006,006.84
PVB – Current Account # 470000224
(GF) 756,358.15 0.00
LBP – Current Account # 0292-1050-
10 (TF) 12,580,548.82 8,344,225.33
LBP – Current Account # 0292-1085-
75 (TF-KC NCDDP AF) 216,254.89 20,206.35
LBP – Current Account # 0292-1088-
69 (TF-BuB) 186,320.51 186,320.51
LBP – Current Account # 0292-1097-
68 (TF-PF) 141,700.00 141,700.00
LBP – Current Account # 0292-1096-
60 (LDRRM) 2,505,225.94 9,425,127.92
DBP – Current Account # 0740-0126-
36031 (SEF) 1,017,643.94 1,490,323.60
Cash in Bank – Local Currency, Time
Deposits (GF):
DBP – Special Savings Account # 5-
000008-03-9 16,623,828.41 16,498,742.29
Total Cash and Cash Equivalents ₱ 35,172,328.44 ₱ 53,455,071.72
Cash in bank earns interest based on the prevailing bank deposit rates. Short-term
deposits are made for varying periods, depending on the immediate cash requirements of
the LGU, and earn interest at the respective short-term deposit rates.
19
