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MEMORANDUM
TO
SUBJECT
DATE
Republic of the Philippines
COMMISSION ON UDIT
Commonwealth venue Quezon City Phil ippines
ORPOR TE GOVERNMENT SE TOR
Cluster 4 - Industrial and Area Development
ALL SUPERVISING AUDITORS / AUDIT TEAM LEADERS
Audit observations of the Bureau of the Treasury (BTr) Audit Team
affecting some GOCCs
September 15,2014
Attached are documents related to the above-captioned subject. Please pursue/follow up the
issues raised by the Auditor of the Bureau of Treasury as it pertains to your respective auditess.
LE~S
Director IV
LSP /medp/bdb
Re vc 336-010-09152014
8/10/2019 Memo to All SAs & ATLs on the Audit Observations o
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Commission on Audit
Commonwealth Ave., Quezon City
CTION REFERR L SLIP
OFFICJ::: eo CGS OAC
1
09.12.14
OUT; :r: -:-:
RI=FNO.:
(NGS -2) OAC-CG& 2014-09-12-0169
DATE RECEIVI=D; IN:
St::NDt::R;
Director Adelina Concepcion 1 - . Ancajas
Auctit Observations of the Bureau of the Treasury (BTr) Audit Team affecting some
GOCCs
FOR:
o
0
o
Comments/Recommendation
DSee me
lZIotners
o Appropriate Action
o Review/evaluation
o
Compliance
lnforrnation
File
RI=MARKS:
.
Action
Officer
Date Ref~rredl
Date Received
COMMENTS/ACTION MADE
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MEMORANDUM
FOR
THRU
Assistant Commissioner WINNIE ROSE H. ENCALLADO
Head, Corporate Government Sector
Assistant CO~ issioneB~
Head, This Sector
SUBJECT
Audit observations of the Bureau of the Treasury (BTr) Audit Team
affecting some GOCCs
DATE
September 8, 2014
Attached is the matrix of issues and concerns and the corresponding resolutions
discussed during the meeting on August 15, 2014 with some CGS Cluster Directors,
Supervising Auditors, Audit Team Leaders relative to the audit observations noted by
the BTr Audit Team which are also the concern of some government-owned and/or
controlled corporations (GOCCs).
For information and appropriate action.
~.
ADELINA
CONCEPCI~
ANCAJAS
Directo~~ ,
NGS/Cluster 2
ACLAlYNUIlGC
CGS-Resolution on BTR issues
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x of Issues and Concerns
u of the Treasury-National Government
13
BTr Audit Team ObservationslRecommendations
Comments of CGS
.
NGS Rejoinder
Resolution Agreed upon During
Directors/SAs/ ATLs
the Meeting
P
1. Subsidies of three GOCCs for P20,190,426.00 intended for
1. Once the Subsidy to GOCCs are 1.According to SA
1. The concerned Auditors of
MOOE were spent for PS received, the fund forms part of
Myrna Monzon, the CGS should issue an audit
C CCP - 15,255,000 the Corporate Operating Budget COB should contain query on these issues.
crc
898,876
(COB), thus, the Auditor is
information on the
CITC - 4,035,550
unable to keep track if the Subsidy and the Likewise, they should see to it
release was utilized as MOOE.
intended purpose for
that the Subsidies were utilized
which it was released.
in accordance with the
proposed project reflected in
the SARO.
2. Subsidies ofP5,641,089.35 released to two GOCCs remained
2. Director Joseph Anacay
2. The Auditor of the LWUA
unutilized as at year-end.
observed that the status was as
should look into the unutilized
of November 30,2013 which as
balance of the Subsidy
Amount of
Amount of
of date, the amount could have
Name of Subsidy as of
Unutilized
been utilized.
GOCC
November 30,
Subsidy
2013
The unexpended balance of the
1 LWUA F 10,700,000.00 P4,059,684.00
SSS had been uti lized as of July
31,2014.
2 SSS 759,572,145.00 1,581,405.35
d
-
Total
P-770,272,145.00 F5,641,089.35
.
Recommendation:
Management release funds only to GOCCs when needed to
forestall increase in unutilized subsidies and to require GOCCs
to submit reports on their utilization of subsidies received.
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Resolution Agreed upon During
the Meeting
BTr Audit Team ObservationslRecommendations
3. The subsidies given to the different GOCCs exceeded the
programmed budgetary support by M8,363,233,339.00
contrary to Chapter 35 of Republic Act 10352. (Schedule 1)
Recommendation:
The Treasurer of the Philippines request the DBM Secretary
for the legal b sis for the release of SAROslNCAs totalling
P48,363,233,339.00 to GOCCs which exceeded their
programmed appropriations by F33,622,960,968.00
(excluding PDAF ofF57,590,000.00) and those without
programmed appropriations per GAA ofF14,740,272,371.00
(excluding PDAF ofF 58,222,265.00).
Comments of CGS
Directors/SAs/ ATLs
3. These releases may pertain to
Disbursement Acceleration
Program (DAP).
The CGS Auditors said that our
concern should only cover those
releases made after the DAP
was declared unconstitutional
since the implementing agencies
are only recipients of the fund.
Also, every Auditor should look
into the utilization of the
releases made prior to the
declaration, whether in
accordance to the projects stated
in the SAROs.
NGS Rejoinder
3. The CGS Auditors should
issue an Audit Observation
Memorandum and require that
unobligated balances should
no longer be utilized and the
corresponding balance ofNCA
be returned to the National
Treasury.
~ ~~ _L _L ~L_ ~
, DBP,
P, NDA,
4. Five GOCCs who were given budgetary support forCY 2012
were included in the thirty-one (31) GOCCs ordered to
refund to the government all bonuses, allowances and other
financial rewards given to officials and employees that were
considered by COA as unauthorized expenditure. (Schedule
2)
Recommendation:
Management coordinate with the Corporate Affairs Group
(CAG) of the DOF, in charge of the GOCCs to raise the
above cited issue in order that subsidies be given to GOCCs
who are financially unable and have really scarce/limited
resources in carrying out present Programs/Projects.
2
4. The GOCC Auditors shall look
into this issue.
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gency Resolution Agreed upon During
the Meeting
GCOR
BTr Audit Team ObservationslRecommendations
Unremitted PAGCOR share - PI8,047,297,434.29
Comments of CGS
Directors/SAs/ ATLs
NGS Rejoinder
5. NG share from PAGCOR revenues were not adjusted as at
year-end of CYs 2011-2013 resulting to under remittance of
P5,533,009,508.55 for 2011, P6,367,139,999.40 for 2012 and
P6,147,147,926.34 for 2013 or a total ofP18,047,297,434.29
contrary to Section 12ofPD 1869
Section 12 of PD No. 1869 dated July 11, 1983 otherwise
known as the Charter of PAGCOR, as amended by PD 1993,
provides that after deducting five per cent (5%) from annual
gross earnings, as franchise tax, the NG shall have a share of
fifty per cent (50%) of the gross earnings, or 60% if the
aggregate gross earnings less than ]2150,000,000.00.
Recommendation:
Require PAGCOR to remit P18,047,297,434.29, representing
unremitted share for CYs 2011-2013 and compute and
collect also the dividends due and demandable for CY 2010
and prior years since the creation of PAGCOR.
5.The computation ofNG's share
in the earnings ofPAGCOR had
been elevated to the Supreme
Court (SC).
5. The PAGCOR Auditor to
monitor status of the case
elevated to the SC
GCOR 6. The duly cert if ied statement disclosing gross earnings and
franchise tax payable as prescribed under par. 3.3 of the DOF
Circular 2-98 dated August 12, 1998 was not yet submitted
despite previous audit recommendation to do so.
Section 3.4 of the DOF Circular No. 2-98 dated August 12,
1998 sett ing the guidelines on the implementation of the
abovecited provision provides that
A djustments in the
amount paid by PAGCOR to the National Treasury under
this Section shall be made at the end of each year based on
their audited financial statements which shall be submitted to
the BTr on or before 30 April of the fo llowing year.
3
6. The Supervising Auditor,
PAGCOR should require the
corporation to submit duly
certified statement disclosing
gross earnings and franchise
tax payable.
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Agency
BTr Audit Team ObservationslRecommendations
Comments of CGS
NGS Rejoinder
Resolution Agreed upon During
oncerned Directors/SAs/ ATLs
the Meeting
AGCOR
Unremitted PAGCOR share - P18,047,297,434.29
5. NG share from PAGCOR revenues were not adjusted as at
5.The computation ofNG's share
5. The PAGCOR Auditor to
year-end of CYs 2011-2013 resulting to under remittance of
inthe earnings ofPAGCOR had
monitor status of the case
,
P5;533,009;508.55 for 2011, P6,367,139,999.40 for 2012 and
been elevated to the Supreme
elevated to the SC
P6,147,147~926.34 for 2013 or a total ofP18,047,297,434.29 Court (sq.
contrary to Section 12 of PD 1869
Section 12 of PD No. 1869 dated July 11, 1983 otherwise
known as the Charter of PAGCOR, as amended by PD 1993,
provides that after deducting five per cent (5%) from annual
gross earnings, as franchise tax, the NG shall have a share of
fifty per cent (50%) of the gross earnings, or 60% if the
aggregate gross earnings less than-F150,000,000.00.
Recommendation:
Require PAGCOR to remitP18,047,297,434.29, representing
unremitted share for CYs 2011-2013 and compute and
collect also the dividends due and demandable for CY 2010
and prior years since the creation ofPAGCOR.
GCOR 6. The duly certified statement disclosing gross earnings and
6. The Supervising Auditor,
franchise tax payable as prescribed under par. 3.3 of the DOF
PAGCOR should require the
Circular 2-98 dajed August 12, 1998 was not yet submitted
-
-
corporation to submit duly
despite previous audit recommendation to do so.
certified statement disclosing
gross earnings and franchise
Section 3.4 of the DOF Circular No. 2-98 dated August 12, tax payable.
1998 setting the guidelines on the implementation of the
abovecited provision provides that A djustments in the
amount paid by PAGCOR to the National Treasury under
this Section shall be made at the end of each year based on
their audited financial statements which shall be submitted to
the BTr on or before 30 April of thefollowing year .
3
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Agency
oncerned
Resolution Agreed upon During
the Meeting
BTr Audit Team ObservationslRecommendations
Recommendations:
y
Require PAGCOR to adjust the 50% share of NG not later
than April 30 of each year and remit the same to the BTr.
y
Require PAGCOR to submit duly certified statement
disclosing gross earrnngs and franchise tax payable as
prescribed under par. 3.3 ofDOF Circular 2-98 since 1987.
7. Unremitted GOCCs dividend - P123,181,140,877.33
The GOCCs' dividends due and demandable of
P75,366,710,713.76 under RA 7656 for CY 2012 and 2011
and prior years amounting to P47,814,430,163.57 or a total
of P123,181,140,877.33 had not been remitted in full, thus,
depriving the NG of additional resources to fund its
programs and projects. (Schedule 3)
Recommendation
BTr-MAAD, in coordination with the DOF-CAG, ensure the
following:
y
Pursue aggressively the monitoring of GOCCs~ compliance
to RA 7656 and enforce faithfully the penalty as provided
therefore as part of the NG's efforts to generate the needed
funds for the implementation of various programs and
projects; and
y
Prepare the necessary data on dividends due from the
GOCCs for CYs 2012 and prior years based on net earnings
as shown on their audited FSs and issue collection letters to
GOCCs on the dividends of P123,181,140,877.33 still due
the NG.
7. In2012, a meeting was 7. The GOCC Auditors shall look
attended by SA into this issue.
Monzon and Ms. Nory
Jozes-tc cliscusstk \
(
~endment to RA 7656
on the exclusion of the
subsidies received by I )
the GOCCs from the
~ ~
Comments of CGS
Directors/SAs/ ATLs
~ NGSRejoinder
Inquiry from DOF-
CAG on the status
revealed that the
amendment was not yet
approved. Thus, the
audit group computed
the 50% dividends due
to NG based on the net
income of the GOCCs.
This is in accordance
with Section 2 (d) and
Section 3 of RA 7656
(copy of RA 7656
attached)
8.
Un remitted
dividends earned from NGs equity
contribution to GOCCs amounting to P3780 907534.02
4
8. The Auditors ofDBP, LWUA
and PADC shall look into this
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Agency
rned
Resolution Agreed upon During
the Meeting
BTr Audit Team ObservationslRecommendations
Section 55 (4), Chapter 1, Title II, PD 1445 provides that
the auditor shall obtain through confirmation, among
others, sufficient evidential matter to afford himself a
reasonable basis for his opinions, judgments,
conclusions, and recommendations.
Article 5 of Ownership and Operations Manual for the
GOCC Sector provides that T he State, as the Owner
representing the sovereign people, constitutes the
controlling interest in, or is the majority stockholder of
Gaees and Subsidiaries, and thereby exercises all the
prerogatives of ownership in every Gaee, including, but
not l imited tothe:
(a) right to register its equity holdings in the books of
the Gaee for all its equity investments therein,
together with the right to be issued certificates of stock
representing its investment in the Gaee; State s Role
and Relationship with Gaees;
(b) right to dividends, when declared, pertaining to its
equity holdings inthe Goee. ...
(g) right to receive a proportional share in the net
assets of the Gace upon its dissolution.
3,780,907~:;34.02
DBP
P2,947,087,534.02 The unremitted dividend pertains
to 2013.
LWUA
8~()
Ql{\ {\{\{\n o
Dividends for CYs2010 2013
PADC
~ O O O O O O .O O
Total
Recommendation
BTr pursue the collection of the unremitted dividends earned
from the concerned GOCCs and verify the financial status of
those GOCCs with no dividends.
Comments of CGS
Directors/SAs/ ATLs
5
NGS Rejoinder
issue.
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R EP UB L IC A C T N O 765 6
A N A CT R EQ UIR IN G G OV ER NM EN T O WN ED O R C ON TP oL LE D C OR PO RA TiO Ns T O D EC LA RE
D iV iD EN DS U ND ER C ER TA IN C ON DIT IO NS T O T HE N A TIO NA L G O V ~ R N M E N T A ND F OR O TH EIt
PURP S S
SECTION 1. Declaration of Policy. - It is hereby declared the policy of the State that in order for
the National Government to realize additional revenues, government-owned or -controlled
corporations, without impairing their viability and the purposes for which they have been
established, shall share a substantial amount of their net earnings to the National Government.
SECTION 2. Definition of Terms. - As used in this Act, the term:
(a) National Government refers to the entire machinery of the central government, as
distinguished from the different fo rms of local governrnents.
(b) Government-owned or controlled corporations refers to corporations organized as a stock or
non-stock corporation vested with functions relating to public needs, whether governmental or
proprietary in nature, and owned by the Government directly or through its instrumentalitles elther
wholly or, where applicable as in the case of stock corporations, to the extent of at least fifty one
percent (51%) of ils capital stock. This term shall also include financial lnstttutlons, owned or
controlled by the National Government, but shall exclude acquired asset corporat ions, as defined ih
the next paragraphs, state Universities, and colleges.
(c) .Acquired asset corporation refers to a corporation: (1) which is under private ownership, the
voting or outstanding shares of which were: (i) conveyed to the Government or to a government
agency, instrumentality or corporation in satisfaction of debts whether by foreclosure of otherwise,
or (i1)duly acquired by the Government through final judgment in a sequestration proceeding; or (2)
which is a SUbsidiary of a government corporation organized exclusively to own and manage, or
lease, or operate specific physical assets acquired by a government financial institution In
satisfaction of debts incurred therewith, and which in anv case by law or by enunciated policy is
required to be disposed of to private ownership within a specified period of time.
(d) Net earnlngs shal lmean income derived from whatever source, whether exempt Or subject to
tax, het of deductions allowed Under Sectlon1.9 of the Natlonal lnternal Revenue Code, as amended,
and income tax and other taxes paid there~but in no case shall any reserve for whatever purpose
be allowed as a deduction from net earnings. ~
8/10/2019 Memo to All SAs & ATLs on the Audit Observations o
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properties or funds held in trust for the use and the benefit of its members, shall not be covered by
this Act such as, but not limited to: the Government Service Insurance System, the Home
Development Mutual Fund, the Employees Compensation Commission, the Overseas Workers
Welfare Administration, and the Phil ippine Medical Care Commission.
SECTION 5. Flexible Clause. - In the interest of national economy and general welfare, the
percentage of annual net earnings that shall be declared by a government-owned or
-contro l led
corporation may be adjusted by the President of the Philippines upon recommendation by the
Secretary of Finance.
SECTioN 6. Penalty. - Any member of the governing board, the chief executive officer and the
chief financial officer of a government-owned or -controlled corporation who violates any provision
of this Act or any of the implementing rules and regulations promulgated thereunder, in addition to
other sanctions provided by law, upon conviction thereof, shall suffer the penalty of a fine not less
than Ten thousand pesos
P iO ,o oo .o O
but not more than Fifty thousand pesos
PsO ,O O O .O O
or
imprisonment of not less than one (1) year but not more than three (3) years, or both, at the
discretion of the court.
SECTION 7. Implementing Rules and Regulations, - The Department of Finance shall formulate
and issue the necessary rules and regulations within sixty (60) days from the effectivity of this Act
and shall exercise primary jurisdiction in its implementation.
SECTION 8. Separability Clause. - If for any reason or reasons any part of the provision of this Act
shall be deemed to be unconstitutional or Invalid, the other parts or provisions hereof which are not
affected thereby shall continue to be in force and effect.
SECTION 9. Repealing Clause. - Executive Order No. 399, dated April 29, 1990, and other laws,
decrees, executive orders, letters of instruction, rules and regUlations, and portions thereof
inconsistent with the provisions of this Act are hereby repealed or modified accordingly.
SECTiON 10. Effectivity Clause. - This Act shall take effect fifteen (15) days after its publication in
the Official Gazette or in at least two (2) national newspapers of general circulation, whichever
comes earlier.
Approved: November 9, 1993
f'k
8/10/2019 Memo to All SAs & ATLs on the Audit Observations o
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Schedule 1- List of GOCCs that received subsidy not in accordance with the GAA
Name of GO CC PerGAA
SUbsidy Released
Under (Over)
Releases
A.
GOCCs given subsidy beyond the GAA
1.
Credit Information Corporation 28,410,000.00 44,725,000.00
( 16,315,000.00)
2. Center for International 'I rade
96,810,000.00 188,118,000.00
(91,308,000.00)
Expositions Missions
3. Development Academy of the
129,300,000.00
135,330,920.00
(6,030,920.00)
Philippines
4.
Lung Center of the Philippines
173,400,000.00
180,450,000.00
(7,050,000.00)
5.
National Dairy Authority
261,744,000.00
761,744,000.00
(500,000,000.00)
6.
National Electrification Administration
5,405.029,000.00
14,027 ,810,337.00
(8,622,781,337.00)
7.
National Irrigation Administration
1,72_ '08,(lOO.00
3,024,241,784.00
(1,302,033,784.00)
8.
National Kidney Transplant Institute 202,865,000.00
1,283,546,000.00
(1,080,681,000.00)
9.
Philippine Coconut Authority
1,738,750,000.00
5,107,440,000.00
(3,368,690,000.00)
10. Philippine Center of Economic
14,500,000.00
72,835,000.00
(58,335,000.00)
Development
11.
Philippine Children Medical Center
345,000,000.00
349,330,000.00
(4,330,000.00)
12. Philippine Deposit Insurance
1,884,164,000.00
6,998,717,0001.00
(5,114,553,001.00)
Corporation
13. Philippine Heart Center
187,000,000.00
210,875,000.00
(23,875,000.00)
14. Phil ippine Institute for Development
33,000,000.00
37,000,000.00
(4,000,000.00)
Studies
15. Philippine Postal Corporation
301,000,000.00
1,173,548,026.00
(872,548,026.00)
16. Others
13,606,000.00
12,621,625,900.00
J 2,608,0 19,900.00)
Sub-total li2,536,786,000.00
J 46,217,336,968.00 F(33,680,550,968.00)
B .
GOCCs not Included in the GAA as recipients of Subsidies
/ 1
17. Bangko Sentral ng Pilipinas
0.00
:317,000,000.00 (317,000,000.00)
18~Civil Aviation Authority of the Phi.i.
0.00 1,000,000,000.00
(1,000,000,000.00)
--r.Development Bank of the Philippines
0.00
420,746,708.00 (420,746,708.00)
20. Light Rail Transit Authorily
0.00
1,314,000,000.00 (1,314,000,000.00)
21. Local Water Utilities Administration 0.00 587,710,000.00
(587,710,000.00)
22. National Transmission Corporation
0.00 1,500,000,000.00
(1,500,000,000.00)
23. Philippine Health Insurance
0.00
95,047,365.00
(95,047,365.00)
Corporation (from DOH)
24. Power Sector Assets Liabilities
0.00
8,134,690,381.00 (8,134,690,381.00)
Management Corporation
,
25. Social Housing Finance Corporation
0.00 19,728,037.00
(19,728,037.00)
~
..J~ Social Security System 0.00 759,572,145.00
(759,572,145.00)
JTour Sln Infrastructure and Enterprise
0.00 650,000,000.00
650,000,000.00
Zone Authority
Sub-total
r
0.00 14,798,494,636.00
J(14,798,494,636.00)
Grand Total 1'-12,536,786,000.00
I'- 61,015,831,604.00 1'-(48,479,045,604.00)
LessPDAF
115,812,265.00
(115,812,265.00)
Net
l12,536,786,OOO.OO J 60,900,019,339.00
J (48,363,233,339.00)
Schedule 2 - GOCCs Who were givetl b u d ge ta ry suppo rt fo r CY 2012 ordered to refund
P ro gra m m e d
A m o u n t
of
B o n u s e s,
budgetary Actual releases in Allowances and
Other
support per
CY 2012
Ilnauclal rewards ordered
G A A
fot refund
Development Academy of the Philippines
F45,000,000.00
I
48,195,900.00
I
23,838,000.00
Development Bank of the Philippines
0.00
117,870,772.00
216,801,000.00
Lung Center of the Philippines
257,560,000.00
277,915,000.00
Not indicated
National Dairy Authoritv
170,472,000.00
170,472,000.00
Not indicated
Philltealth
1
0.00
14,068,084,040.00
1,651,084,000.00
1
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Sched u le 3 - Sched u le o f GOCCs w ith U nre rn ltte d D iv id en ds
1
.
2012 Net Income 50% Dividends
Dividends paid in
Due &Name
o t
Corporation subjectto
tu
DUe under
itA
CY 2013
rot
2012
Demandable
\
7656 7656 Income
A .
GOCCs consldered parent corporations
_
._
Bases Conversion
f r
17
Development
5,157,550,100.00
2,578,775,050.00
679,012,168.00
1,899,762,882.00
Authority
v .
l 1 t i l
Aviation
.
~~
32
uthority of the
1,925,707,420.00
962,853,710.00
0.00 961,853,710.00
Philippines
v 61
Laguna Lake
Development
3,062,535.00
1,531,267.50 0.00
1,531,267.50
Authority
(
/73
Manila International
2,640,559,099.00
1,320,279,549.50
1,008,034,244.89
Airport Authority
312,245,304.61
~3
National
Development
330,549,630.00
165,274,815.00
114,627,351.92
50,647,463.08
Company
V
94
National
Electrification
340,577,922.00
170,288,961.00 136,548,873.55
33,740,087.45
Administration
:1
1 4
Philippine
0
Aerospace
6,482,088.00
3,241,044.00
2,000,000.00
1,241,044.00
Development
C orpora tio n
o _
..--
\
Philippine
4 Red arnatiort 2,163,463,965.00 1,081
1
731,982.50 0.00 1,081,731
1
982.50
Authority
..
;
Tourism
1 5
Infrastructure and
1,236,181,257.00
618,090,628.50 0.00 618,090,628.50
Enterprise Zone
Authority
I
Tott i l
1l 165
1
3:H;294,695.231'( 82;666,647,347.62 7 ,29~,936,633.86
75;366j710,713.16 I
8/10/2019 Memo to All SAs & ATLs on the Audit Observations o
14/14
Dividends Due (CY 1012 AAR) and Remittances in CY 2013
Due and Demandable as
O
Particulars
of December
j
1, 2012
Remittances
ill
Due and Demandable
(pet 2012 AAA)
2013
2011
P -
8,242,668,532.32
P -
92,846,066.95
P
8,149,822,465.37
2010 and orior years
39,814,607,698.20
150,000,000.00
39,664,607,698.20
Total
l 4S,057
j
276
j
230.52
l
242,846,066.95
P
47,814,430,163.57
2012
20li PYs
Tota1
A m ou n t
P 75,366,710,713.76
47,814.430,163.57
I 1 12:t181.140,877.33