4~~ - social housing finance corporation audited financial statement13.pdf · 2,218,355.10...

SOCIAL HOUSING FINANCE CORORATIONAwholly-owned subsidiary of National Home Mortgage Finance Corporation

CASH FLOW STATEMENTAs of March 2013

Cash Flows from Operating ActivitiesCash Inflows:

Amortization CollectionsService Fee IncomeMisc. IncomeInsurance PrepaymentsReceipts of interests from depositsReceipts of interest receivable-invesbnentsOther Receipts

Total Cash InflowsCash OuUlows:

MCR-Take -ooeSet-up and Payment of MCR ( final 50% )Payment of Personal ServicesPayment of Maintenance & Operating ExpensesPayment of Origination FeeRemittance of MRI premiums (Enrollment &Renewal)Refund of Excess PaymentsReceivables from GOCCs/OthersTaxes, Premiums & RnesRemittance of SSS/Pag-ibigJPhilhealthInterest portion of amortization paymentsCollection Servicing FeePurchase of Office SuppliesPrepayments

Total Cash 0uUI0wsTotal Cash Provided (Used) byOperating ActivitiesCash Flows from Investing Activities

Cash Inflows:Total Cash InflowsCash 0uUI0ws:

Payment of Long Term Liabilities (Amort. Of office building)Purchase of Office ,IT,Communication EquipmentPurchase/Construction of Buildings/Fumitures & futures

Total Cash OutflowsTotal Cash Provided (Used) by Investing ActivitiesCash Provided by Operating and Investing ActivitiesAdd: Cash ItCash Equivalents - BeginningCash ItCash Equivalents - Ending

Approved by:

4~~Recommending Approval:

ERNESTO~TlENZA JR.VP-MSG,H~,FCD

146,743,356.351,751,375.60487,155.92891,742.28

15,078,682.282,096,790.73

208,214,171.32378,729,941.14

314,581,796.31(114,585,556.67)36,927,698.6223,270,951.153,469,773.899,135,116.66

71,023.674,580,554.977,898,394.561,527,955.692,746,643.76742,563.16716,00LlO133,201.65

365,391,046.5213,338,894.62

2,510,938.481,072,562.96389,203.50

3,972,704.94(3,972,704.94)9,366,189.68

2,136,275,531.172,145,641,720.85

Noted by:=~

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2,218,355.10

SOCIAL HOUSING FINANCE CORPORATION(A whoIIy--owned subsidiary of NationalHome Mortgage Finance Corporation)

BALANCE SHEETMarch 31, 2013

ASSETSCURRENTASSETS

cashOn HandCash Collecting Officerspetty Cash Fund

cash in BankCash in Bank - Current AccountCash in Bank - Time Deposit

ReceivablesDue from Officers and EmployeesAdvances to Officers and EmployeesDue from GOCCsAccount Receivable - Others

InventoriesOffice Supplies InventoryAccountable Forms InventoryOther Supplies Inventory

PrepaymentsPrepaid InsurancePrepaid SubscriptionPrepaid Income TaxPrepaid Rent

other Current AssetsGuaranty Deposits

TOTAL CURRENTASSETS

ASSETSHELD IN TRUSTNHMFC

Loan Installment Receiva~urrentLoan Installment Receivable-Past DueItems in LitigationTotal ReceivableLess: Loan Loss ReserveInterest ReceivablesInsurance ReceivablesUnamortized Mortgage Origination Cost

AKPF

1,544,288.62674,066.48

53,547,540.692,089,875,825.06

120,749.88374,370.18

62,453,471.36101,484.16

2,421,881.15760,691.0038,585.90

827,727.2448,100.0052,721.61112,000.00

5,480,153,303.903,371,051,300.37

50,925,357.348,902,129,961.61

56,892,834.00 8,845,237,127.61433,094.94

213,901,172.8534,169,845.09

TOTAL ASSETSHELD IN TRUST

NON - CURRENTASSETSLONG-TERM LOANSRECEIVABLES

Loans ReceivablePROPERTYand EQUIPMENT

BuildingOffice Buildings

Accumulated DepreciationOther Structures

Accumulated DepreciationLeasehold Improvements

Leasehold Improvements-BuildingAccumulated Depreciation

Office Equipment. Fumiture & FixturesOffice Equipment

Accumulated DepreciationFurniture & Rxtures

Accumulated DepreciationIT Equipment & Software

Accumulated DepreciationCommunication Equipment

Accumulated DepreciationUbrary Books

Accumulated Depreciationother Equipment

Transportation EquipmentAccumulated Depreciation

Other Equipment-OthersAccumulated Depreciation

184,770,000.0037,940,025.5816,560,000.003,087,317.88

14,453,519.016,074,856.38

3,338,744.611,916,417.108,162,194.623,026,014.02

21,983,940.8913,032,178.303,588,704.153,195,944.75105,618.4029,389.17

16,715,917.907,053,550.29183,805.00136,034.60

TOTAL NON-CURRENTASSETS

TOTAL ASSETS

2,143,423,365.75

63,050,075.58

3,221,158.05

1,040,548.85

670,361.15

2,213,623,864.48

9,093,741,240.49548,312,177.43

9,642,053,417.92

29,481,188.79

146,829,974.42

13,472,682.12

8,378,662.63

1,422,327.51

5,136,180.60

8,951,762.59

392,759.40

76,229.23

9,662,367.61

47,770.40 I',223,851,905.30

12,079,529,187.70

Page 1 012

796,649,736.46

LIABILITIES AND EQUITY

CURRENT L1ABIUTIES

Payable AccountsAccounts Payable - MCR/SupplierDue to Officers & EmployeesPerformance Warranty PayablePerformance/Bidders Bonds Payable

Inter-Agency AccountsDue to BIRDuetoSSSDue to Pag-ibigDue to PhilhealthDue to HUDCCDue to Other GOCCs

Other Uability AccountsAccrued Expenses PayableOther Payables

Undistributed CollectionsAdvances from BorrowersGuaranty Deposits PayableInsurance PayableDeferred CreditsOrigination Fee PayableTax Refund PayableOther Payables-OthersDividends Payable

Other Liabilities

TOTALCURRENT L1ABIUTIES

LONGTERM L1ABIUTIES

Loans PayableOther Long-Term Liabilities

TOTAL LONG-TERM LIABIUTIES

TRUST LIABIUTIESTL- NHMFCTL- AKPF

TOTALTRUST LIABlLmES

TOTAL LlABIUTlES

STOCKHOLDERS EQUITY

Authorized capital Stock=P=100,OOO,OOO.00divided into 100,000 sharesof Common Stock @ =P=1,OOOpar value/shareSubscribed capital StockLess Subscription Receivable

Paid in capitalDonated capitalRetained Earnings, Beg.Add/Deduct Prior Period AdjustmentsTotalAdd/Deduct Income (Loss) for the periodRetained Earnings, Ending

TOTAL LlABIUTlES &. EQUITY

Recommending Approval:

ERNESTO 1T1ENZA.lR.Vice Pr~~, HRlAD, FCD

Apprqved by:

795,612,765.8237,425.76

657,830.28341,714.60

14,658,978.59169,530.36150,038.2883,812.50

2,SOO,OOO.0020,052,977.86

5,986,485.58

325,262,531.3758,090,568.3077,287,235.0814,025,428.4417,409,158.9615,293,699.25

407,277.33178,458.40

325,066.42

25,000,000.0015,000,000.00

230,313,015.37(50,942,239.03)179,370,776.3417,709,133.24

37,615,337.59

514,265,909.13

1,348,530,983.18

132,537,003.80

132,537,003.80

9,843,069,113.71548,312,177.43

10,391,381,291.14

11,8n,449,278.12

10,000,000.00

197,079,909.58

12,079[529[187.70

Noted by:

MA.f.&tI:srPresident

SOCIAL HOUSING FINANCE CORPORATION(A wholly-owned subsidiary of National Home Mortgage Rnance Corporation)

STATEMENT OF INCOME AND EXPENSESFor the period ending March 31, 2013

Income: Feltruary This Month Year to DateOther Business Income

Service Fee Income 877,499.78 873,875.82 1,751,375.60Other General Income

Interest Income 36,342,770.80 16,553,542.43 52,896,313.23Miscellaneous Income-Penalty 13,425,528.98 5,343,373.02 18,768,902.00Interest on Notes 3,000,000.00 466,666.66 3,466,666.66Interest on Savings 10,432,793.04 4,645,889.22 15,078,682.26Miscellaneous Income-Others 387,708.85 128,982.43 516,691.28

Gross Income 64,466,301.45 28,012,329.58 92,478,631.03

Less: ExpensesPersonal Services

Salaries &Wages 12,652,863.48 6,601,407.68 19,254,271.16Other Compensation 12,337,178.60 2,319,325.91 14,656,504.51Personnel Benefit Contribution 1,164,933.25 1,183,786.90 2,348,720.15Other Personnel Benefits 115,018.72 113,957.51 228,976.23

Total Personal Services 26,269,994.05 10,218,478.00 36,488,472.05Maintenance ItOther Operating Expenses

Travelling Expenses 184,263.52 137,087.88 321,351.40Training Expenses 197,930.85 141,290.88 339,221.73Supplies & Materials Expenses 864,849.85 419,116.42 1,283,966.27Communication Expenses 274,082.76 269,022.88 543,105.64UtilityExpenses 759,393.34 560,213.06 1,319,606.40Contribution toOrganization 524,816.50 260,433.25 785,249.75Advertising Expenses 75,630.00 104,938.00 180,568.00Printing & Binding Expenses 69,569.50 67,284.50 136,854.00Rent Expenses 928,777.29 275,077.43 1,203,854.72Representation Expenses 1,655,839.14 381,502.77 2,037,341.91Transportation & Delivery Exp. 14,782.89 14,782.89Subscription Expenses 10,480.00 8,918.00 19,398.00Professional Services 501,328.12 2,380,906.36 2,882,234.48Repairs & Maintenance 75,720.12 303,843.96 379,564.08Subsidies and Donations 13,000.00 13,000.00Discretionary, Extraordinary & Misc.Expenses 105,828.05 71,164.11 176,992.16Taxes, Insurance premiums and Other Fees 5,506,350.66 1,652,530.35 7,158,881.01Other Expenses 521,873.32 225,463.21 747,336.53Loan Loss 643,812.00 344,654.00 988,466.00Non - Cash Expenses 2,650,251.73 1,322,702.46 3,972,954.19

TotalMOOE 15,578,579.64 8,926,149.52 24,504,729.16Financial Expenses

Interest Expenses 2,022,869.41 665,443.16 2,688,312.57Origination & Appraisal Cost 5,825,795.89 1,961,325.91 7,787,121.80Bank Charges 4,919.50 2,775.00 7,694.50Other Rnancial Charges 298,938.19 150,613.75 449,551.94

Total Financial Expenses 8,152,522.99 2,780,157.82 10,932,680.81Total Expenses 50,001,096.68 21,924,785.34 71,925,882.02Net Income/(Loss) before Income Tax 14,465,204.77 6,087,544.24 20,552,749.01Less Provision for Income Tax 4,092,005.90 {1,248,390.13) 2,843,615.77Net Income/(Loss) after Income Tax 10,373,198.87 7,335,934.37 17,709,133.24

Recom~ Approval:

ERNESTO • ATIENZA, JR..VICePresi -MSG,HR/AD,Fco

SOCIAL HOUSING FINANCE CORPORATION(A wholly-owned subsidiary of National Home Mortgage Finance Corporation)

TRIAL BALANCEMarch 31, 2013

ACCOUNTDESCRIPTION Balance., Beginning March, Transactions Balances, Ending MarchDebit Credit Debit Credit Debit Credit

Cash CollectingOfficers - Tellers - 229,902,992.96 229,902,992.96 -Cash CollectingOfficers - ST 7,071,838.18 241,942,288.57 247,469,838.13 1,544,288.62RevolvingFund 674,066.48 148,062.64 148,062.64 674,066.48Cash InBank - General Fund 18,286,152.89 352,781,767.22 340,637,653.37 30,430,266.74Cash InBank - General Fund II 6,242,738.41 18,596,250.94 19,867,276.83 4,971,712.52Cash In Bank - Take Out Fund 59,173,087.78 139,129,127.88 180,182,499.62 18,119,716.04Cash In Bank - e-Tax Fund 25,810.71 4,647,773.23 4,647,738.55 25,845.39Cash In Bank - Time Deposit 1,971,713,437.21 313,926,557.29 195,764,169.44 2,089,875,825.06Due from Officers & Employees 227,846.24 281,294.84 388,391.20 120,749.88Advances to Officers and Employees 242,153.21 181,385.38 49,168.41 374,370.18Due from NHMFC 59,297,962.64 - - 59,297,962.64Due from HUDCC . 1,400,229.72 772,107.24 511,002.14 1,661,334.82Due from AKPF 1,432,077.92 356,104.95 533,818.31 1,254,364.56Due from SSS 250,609.34 34,500.00 45,300.00 239,809.34Accounts Receivable-others 95,817.88 12,768.28 7,102.00 101,484.16Office Supplies Inventory 2,158,429.25 505,925.10 242,473.20 2,421,881.15Accountable Forms Inventory 760,691.00 . · 760,691.00Other Supplies Inventory 38,585.90 - · 38,585.90Prepaid Insurance 883,441.39 - 55,714.15 827,727.24Prepaid Subscription 48,750.00 - 650.00 48,100.00Prepaid Income Tax 52,721.61 - · 52,721.61Prepaid Rent . 112,000.00 - · 112,000.00Guaranty Deposits 670,361.15 - · 670,361.15Notes Receivables 200,000,000.00 - 200,000,000.00 .UR 5,402,279,142.40 95,404,105.85 17,529,944.35 5,480,153,303.90PDUR 3,371,051,300.37 - - 3,371,051,300.37Items In litigation 50,925,357.34 . - 50,925,357.34Loan Loss Reserve - 56,548,180.00 - 344,654.00 56,892,834.00Interest Receivables 433,094.94 - . · 433,094.94Insurance Receivables 211,504,131.48 4,055,297.89 1,658,256.52 213,901,172.85Unamortized Mortgage Origination Cost 34,311,421.88 - 141,576.79 34,169,845.09Assets Held in Trust - AKPF 548,096,054.39 761,497.85 545,374.81 548,312,177.43Loans Receivable 25,144,522.53 - 230,450.07 24,914,072.46Loans Receivable-Calamity Loan 4,610,837.15 9,537.64 53,258.46 4,567,116.33Office Buildings 184,770,000.00 - · 184,770,000.00

Accumulated DepreCiation 37,422,473.25 - 517,552.33 37,940,025.58other Structures 16,560,000.00 - · 16,560,000.00

Accumulated Depreciation 3,039,714.56 - 47,603.32 3,087,317.88Leasehold Improvements 14,453,519.01 - - 14,453,519.01

Accumulated Depreciation 5,967,054.99 - 107,801.39 6,074,856.38Office Equipment 3,160,227.81 178,516.80 - 3,338,744.61

Accumulated Depreciation 1,887,008.24 - 29,408.86 1,916,417.10Furniture & Fixtures 8,151,541.62 10,653.00 - 8,162,194.62

ACCOUNT DESCRIPTION Balances, Beginning March, Transactions Balances, Ending March

Debit Credit Debit Credit Debit CreditAccumulated Depreciation 2,959,936.92 · 66,077.10 3,026,014.02

IT Equipment & Software 21,971,353.39 12,587.50 - 21,983,940.89Accumulated Depreciation 12,807,835.99 · 224,342.31 13,032,178.30

Communication Equipment 3,588,704.15 - - 3,588,704.15Accumulated Depreciation 3,190,951.87 · 4,992.88 3,195,944.75

Library Books 99,418.40 6,200.00 - 105,618.40Accumulated Depreciation 27,897.89 · 1,491.28 29,389.17

Transportation Equipment 16,715,917.90 - - 16,715,917.90Accumulated Depreciation 6,874,451.17 - 179,099.12 7,053,550.29

Other Assets (Others) 183,805.00 - - 183,805.00Accumulated Depreciation 133,277.52 - 2,757.08 136,034.60

Accounts Payable - MCR 763,693,361.07 20,694,949.70 48,202,052.91 791,200,464.28Accounts Payable - Supplier 4,253,620.24 184,993.00 343,674.30 4,412,301.54Due to Officers & Employees 37,425.76 · - 37,425.76Performance Warranty Payable 657,830.28 · - 657,830.28Performance/Bidders Bond Payable 341,714.60 · - 341,714.60Due to BIR 18,231,309.27 5,272,184.61 1,699,853.93 14,658,978.59Due to sss 159,251.41 147,818.96 158,097.91 169,530.36Due to Pag-iblg 142,414.03 98,505.03 106,129.28 150,038.28Due to Phllhealth 82,012.50 72,250.00 74,050.00 83,812.50Due to NHMFC 18,869,606.78 · - 18,869,606.78Due to Provident Fund 1,139,398.33 1,142,222.62 1,186,195.37 1,183,371.08Accrued Expenses Payable 6,382,461.70 921,915.89 - 5,460,545.81Gross Receipt Tax Payable 632,854.07 632,854.07 525,939.77 525,939.77UndlstributedC6Hectlons 317,642,961.36 37,493,573.26 45,113,142.27 325,262,531.37Advances from Borrowers 61,543,707.07 194,861,770.49 191,408,631.72 58,090,568.30Advances from HUDCC 2,500,000.00 · - 2,500,000.00Guaranty Deposits Payable 76,378,837.60 110,315.88 1,018,713.36 77,287,235.08Insurance Payable 14,022,280.44 336,233.20 339,381.20 14,025,428.44Deferred Credits 17,200,747.11 - ~8,411.85 17,409,158.96Origination Fee Payable 14,599,957.62 260,636.42 4,378.05 15,293,699.25Tax Refund Payable 407,277.33 - - 407,277.33Other Payables 302,788.40 145,726.68 21,396.68 178,458.40Dividends Payable 74,174,928.00 74,174,928.00 - -Other Liabilities 325,066.42 - - 325,066.42Other Long Term liabilities 133,379,420.57 842,416.77 - 132,537,003.80Trust Liabilities - NHMFC 9,843,069,113.71 · - 9,843,069,113.71Trust Liabilities - AKPF 548,096,054.39 545,374.81 761,497.85 548,312,177.43Subscribed Capital Stock 25,000,000.00 - - 25,000,000.00Subscription Receivable 15,000,000.00 - - 15,000,000.00Retained Earnings 230,313,015.37 - - 230,313,015.37Prior Year's Adjustment 50,942,239.03 - - 50,942,239.03Service Fee Income 877,499.78 - 873,875.82 1,751,375.60Interest Income 36,342,770.80 - 16,553,542.43 52,896,313.23Miscellaneous Income-Penalty 13,425,528.98 - 5,343,373.02 18,768,902.00Interest Income on Notes 3,000,000.00 - 466,666.66 3,466,666.66Interest on Savings 10,432,793.04 - 4,645,889.22 15,078,682.26Miscellaneous Income-Others 387,708.85 - 128,982.43 516,691.28Salaries and Wages - Regular 12,652,863.48 6,601,407.68 - 19,254,271.16


Debit Credit Debit Credit Debit CreditPERA 742,275.88 386,275.86 - 1,128,551.74Representation Allowance 662,000.00 657,000.00 - 1,319,000.00Transportation Allowance 595,428.48 591,907.39 - 1,187,335.87Clothing/Uniform Allowance 840,000.00 - - 840,000.00Economic Subsidy 7,283,846.00 - - 7,283,846.00Children's Allowance 6,090.00 6,150.00 - 12,240.00Meal Allowance 94,450.00 89,150.00 - 183,600.00Rice Subsidy 673,200.00 343,800.00 - 1,017,000.00Hospital and Medical Benefits 1,185,715.66 - - 1,185,715.66Overtime Pay 254,172.58 245,042.66 - 499,215.24SSSContributions 199,951.30 201,788.60 - 401,739.90Pag-ibig Contributions 18,900.00 19,100.00 - 38,000.00Philhealth Contributions 62,837.50 70,500.00 - 133,337.50ECContributions 5,630.00 5,670.00 - 11,300.00Provident Fund Contributions 877,614.45 886,728.30 - 1,764,342.75Sick/Vacation Leave Benefit 49,018.72 59,957.51 - 108,976.23Birthday Gift Benefit 66,000.00 54,000.00 - 120,000.00Traveling Expenses 184,263.52 137,087.88 - 321,351.40Training and Seminar Expenses - 16,200.00 - 16,200.00Capacity Building 197,930.85 125,090.88 - 323,021.73OffIce Supplies Expenses 401,446.48 112,837.40 - 514,283.88Gasoline, 011and Lubricants 133,173.19 152,394.37 - 285,567.56IT Supplies & Materials 270,858.01 116,936.39 - 387,794.40Drugs and Medicine Expenses 16,819.00 - - 16,819.00UtftetSupptfesEXpenses 42,553.17 36,948.26 - 79,501.43Postage and Deliveries 19,974.80 43,025.00 - 62,999.80Telephone Expenses-Landline 141,268.34 140,066.06 - 281,334.40Telephone Expenses-Mobile 44,170.46 46,490.82 - 90,661.28Internet Expenses 68,669.16 39,441.00 - 108,110.16Water Expenses 56,089.81 51,081.59 - 107,171.40Electricity Expenses 703,303.53 509,131.47 - 1,212,435.00Association Dues 520,866.50 260,433.25 - 781,299.75Membership Dues & Contribution to Organizations 3,950.00 - - 3,950.00Advertising Expenses 75,630.00 104,938.00 - 180,568.00Printing and Binding Expenses 69,569.50 67,284.50 - 136,854.00Rent Expenses 928,777.29 275,077.43 - 1,203,854.72Business Development Expense 1,655,839.14 434,002.77 52,500.00 2,037,341.91Transportation and Delivery 14,782.89 - - 14,782.89Subscription Expenses 10,480.00 8,918.00 - 19,398.00Council/Board Member's Allowance 186,343.44 76,876.00 - 263,219.44Special Counsel Allowance 4,750.00 - - 4,750.00General Services - 249,089.30 - 249,089.30Clerical Services - 1,216,857.13 - 1,216,857.13Janitorial Services (2,738.34) 52,579.22 1,369.17 48,471.71Security Expenses 134,301.52 462,563.99 8,002.17 588,863.34Other Professional Expenses 178,671.50 341,222.06 8,910.00 510,983.56Repairs and Maintenance 75,720.12 303,843.96 - 379,564.08Donations 13,000.00 - - 13,000.00Discretionary Expenses 79,849.17 38,595.74 - 118,444.91


Debit Credit Debit Credit Debit CreditMiscellaneous Expenses 25,978.88 32,568.37 - 58,547.25Taxes, Duties & Licenses 919,195.59 2,229.06 - 921,424.65Percentage Tax 1,097,803.98 525,939.77 - 1,623,743.75Final Tax paid on Income 2,086,558.60 929,ln.87 - 3,015,736.47Real Estate Tax 1,235,041.47 - - 1,235,041.47Fidelity Bond Premiums 83,750.00 32,500.00 - 116,250.00Insurance Expenses 84,001.02 162,683.65 - 246,684.67Collection Servicing Fee 517,099.95 225,463.21 - 742,563.16CNA Incentive 4,n3.37 . - 4,773.37Depreciation - Office Building 1,035,104.66 517,552.33 - 1,552,656.99Depreciation - Other Structures 95,206.64 47,603.32 - 142,809.96Depreciation - Office Equipment 59,989.97 29,408.86 - 89,398.83DepreCiation - Furniture & Fixtures 132,154.20 66,On.l0 - 198,231.30DepreCiation - IT Equipment & Software 452,182.25 224,342.31 - 676,524.56DepreCiation - Transportation Equipment 358,198.24 179,099.12 - 537,297.36DepreCiation - Communication Equipment 10,216.69 4,992.88 - 15,209.57DepreCiation - Leasehold Improvements 215,602.78 107,801.39 - 323,404.17DepreCiation - Library Books 2,928.56 1,491.28 - 4,419.84DepreCiation - Other Assets (Others) 5,514.16 2,757.08 - 8,271.24Loan Loss 643,812.00 344,654.00 - 988,466.00Amortization-Origination and Appraisal Cost 283,153.58 141,576.79 - 424,730.37Other Financial Charges 298,938.19 150,613.75 - 449,551.94Bank Charges 4,919.50 2,775.00 - 7,694.50Interest Expenses 2,022,869.41 684,886.89 19,443.73 2,688,312.57Origination and Appraisal Cost 5,825,795.89 1,961,325.91 - 7,787,121.80Income Tax 4092005.90 - 1248 390.13 2843615.77TOTAL 12 368 904 500.28 12368904500.28 1763610982.85 1 763610982.85 12 352 625 486.59 12 352 625 486.59

age 0

SOCIAL HOUSING FINANCE CORORATIONA wholly-owned subsidiary of National Home Mortgage Finance Corporation

CASH FLOW STATEMENTAs of lune 2013


Amortization Collections 299,111,836.51Service Fee Income 3,704,400.07Misc. Income 763,229.29Insurance Prepayments 2,069,942.34Receipts of interests from deposits 26,307,444.57Receipts of interest receivable-investments 2,096,790.73Receipts of interest on Notes 3,466,666.66Receipt of CMPFund transferred from NHMFC 250,000,000.00Other Receipts 218,651,372.61

Total Cash Inflows 806,171,682.78Cash Outflows:

MCR-Take -out 458,540,059.07Set-up and Payment of MCR ( final 50% ) (133,850,232.29)Payment of Personal Services 73,350,201.00Payment of Maintenance &. Operating Expenses 50,758,169.88Payment of Origination Fee 6,263,409.61Remittance of MRI premiums (Enrollment &. Renewal) 19,739,783.44Refund of Excess Payments 131,070.35Receivables from GOCCs/Others 8,080,532.70Taxes, Premiums &. Fines 25,122,658.89Remittance of SSS/Pag-ibig/Philhealth 3,474,540.47Payment of Premium on Fidelity Bond 11,875.00Interest portion of amortization payments 4,757,846.34Collection Servicing Fee 1,543,881.34Purchase of Office Supplies 1,805,250.83Payment of Dividends 74,174,928.00Prepayments 140,351.65

Total Cash Outflows 594,044,326.28Total Cash Provided (Used) by Operating Activities 212,127,356.50Cash Flows from Investing Activities

Cash Inflows: 0.00Total Cash Inflows u.uuCash Outflows:

Payment of Long Term Uabilities (Amort. Of office building) 4,438,426.33Purchase of Office ,IT,Communication Equipment 1,483,197.26Purchase/Construction of Buildings/Fumitures &. Fixtures 591,615.80

Total Cash Outflows 6,513,239.39Total Cash Provided (Used) by Investing Activities (6,513,239.39)Cash Provided by Operating and Investing Activities 205,614,117.11Add: Cash&' Cash Equivalents - Beginning 2,136,275,531.17Cash&' Cash Equivalents - Ending 2,341,889,648.28

0.00

~fiedbY: Recommending Approval: Approved by: Noted by:

~.~........D~F·ANABE E.NESTO ~""J" ~~"IC[O M R. OLIVEROSMan r, FCD VP-MSG,HR/ ,FCD Exec 'v. Vi e President P

6,527,981.80674,066."18

SOCIAL HOUSING ~ CORPORATION(AwhoIy-owned subsidiary cINational MortgageFinance Corporation)

BALANCE SHEETJune 30, 2013

ASSETSCURRENT ASSETS

cashOn HandCash Collecting Officerspetty Cash Fund

cashin BankCash in Bank - Current AccountCash in Bank - Time Deposit


InventoriesOffice Supplies InventoryAccountable Forms InventoryOther Supplies Inventory

Prepayments

Prepaid InsurancePrepaid SubscriptionPrepaid Income TaxPrepaid Rent

other CUrrentAssetsGuaranty Deposits

TOTALCURRENT ASSETS

ASSETS HELD IN TRUSTNHMFC

Loan Installment Receivable-CurrentLoan Installment Receivable-Past DueItems in UtigationTotal ReceivableLess: Loan LossReserveInterest ReceivablesInsurance ReceivablesUnamortized Mortgage Origination Cost

AKPF

5,578,040,869.403,371,051,300.37

50,925,357.349,000,017,527.11

57,7"18,439.03

7,202,0"18.28

TOTALASSETS HELD IN TRUST

NON - CURRENT ASSETSLONG-TERM LOANS RECEIVABLES

Loans ReceivablePROPERTY and EQUIPMENT

BuildingOffice Buildings




OfficeEquipment.,.Furniture. F"1XbIresOffice Equipment

Accumulated DepreciationFurniture & Fixtures






Other Equipment-OthersAccumulated Depreciation

TOTALNON-CURRENT ASSETS

TOTALASSETSI

111,547,785.102,223,139,814.90

1,094,288.53338,167.69

61,147,005.14112,102.28

2,334,687,600.00

62,691,563.64

1,891,041.891,081,011.00

38,585.90 3,010,638.79

1,079,826.3853,300.0052,721.61112,000.00 1,297,847.99

670,361.15

2,409,560,059.85

8,942,269,088.08433,094.94

217,868,886.0033,745,114.72 9,194,316,183.74

5"18,270,954.04

9,742,587,137.78

28,514,124.29 /

184,770,000.00139,492,682.57 145,277,317.43

13,329,872.1616,560,000.00 "73,230,127.84

/14,453,519.016,398,260.55 8,055,25&.46

3,342,694.61/2,004,718.23 1,337,976.38

5,137,711.25

8,532,939.28

379,816.10

71,476.39

8,364,606.92/'3,226,895.67 /

22,2"18,510.8913,715,571.61/3,588,704.153,208,888.05 /105,618.4034,142.01

16,715,917.90 /7,590,847.65 9,125,070.25

39,499.16183,805.00 .;'144,305.84

219,801,061.15

12,371,948,258.78

Page 1ci2

LIABILITIES A'ND EQUITY

CURRENT LIABILITIES

Payable AccountsAccounts Payable - MCR/SupplierDue to Officers & EmployeesPerfonnance Warranty PayablePerfonnance/Bidders Bonds Payable

Inter-Agency AccountsDue to BIRDue to SSSDue to Pag-ibigDue to PhilhealthDue to HUDCCDue to Other GOCCs

other Uability AccountsAccrued Expenses PayableOther Payables

Undistributed CollectionsAdvances from BoITOWel"SGuaranty Deposits PayableInsurance PayableDeferred CreditsOrigination Fee PayableTax Refund PayableOther Payables-Others

Other Uabilities

TOTAL CURRENT LIABILITIES

LONG TERM LIABILITIES

Loans PayableOther Long-Term Uabilities

TOTAL LONG-TERM LIABILITIES

TRUST LIABILITIESTL- NHMFCTL- AKPF

TOTAL TRUST LIABILITIES

TOTAL LIABILITIES

STOCKHOLDERS EQUITY

Authorized Capital Stock=P= 100,000,000.00 divided into 100,000 sharesof Common Stock @ =P= 1,000 par value/shareSubscribed Capital StockLess Subscription Receivable

Paid in CapitalRetained Earnings, Beg.AddjDeduct Prior Period AdjustmentsTotalAddjDeduct Income (Loss) for the periodRetained Earnings, Ending

TOTAL LIABILITIES It EQUITY

by: Recommending Approval:

ERNEST~ N. ATIENZA. JR.VICe ~-MSG, HR/AO, FCD

.ANABEManag , Rnance &Controllership Department

Page2 of2

812,656,897.1437,425.76

597,830.28341,714.60

3,935,047.66 "161,555.16 ::-1<19,525.7182,787.50 /

2,500,000.00 -".20,124,162.04 -,'

5,884,544.62 ,/

3<I9,447,n8.0462,833,338.2981,119,303.0513,987,557.8018,042,768.1015,990,739.03

407,277.33290,155.31323,555.25

25,000,000.0015,000,000.00

230,313,015.37(50,970,374.92)179,342,640.4522,375,731.10

813,633,867.78

26,953,078.07

548,326,966.82

1,388,913,912.67

129,975,906.81

129,975,906.81

10,093,069,113.71548,270,954.04

10,641,340,067.75

12,160,229,887.23

10,000,000.00

201,718,371.55

12,371,948,258.78

Noted by:

~~~President

SOCIAL HOUSING FINANCE CORPORATION(Awholly-owned subsidiary aNational Home Mortgage Rnance Corporation)

STATEMENT OF INCQME AND EXPENSESFor the period ending June 30, 2013

Income:other Business Income

Service Fee IncomeOther General Income

Interest IncomeMiscellaneous Income-PenaltyInterest on NotesInterest on SavingsMiscellaneous Income-Others

Gross Income

Less: ExpensesPenonal Services

Salaries &WagesOther CompensationPersonnel Benefit ContributionOther Personnel Benefits

Total Penonal SeMc:esMaintenance .. other Operating Expenses

Travelling ExpensesTraining ExpensesSupplies & Materials ExpensesCommunication ExpensesUtility ExpensesContribution to OrganizationAdvertising ExpensesPrinting & Binding ExpensesRent ExpensesRepresentation ExpensesTransportation & Delivery Exp.Subscription ExpensesProfessional ServicesRepairs &MaintenanceSubsidies and DonationsDiscretionary, Extraordinary & Misc. ExpensesTaxes, Insurance premiums and Other FeesOther ExpensesLoan LossNon - Cash Expenses

TotalMOOEFinancial Expenses

Interest ExpensesOrigination &Appraisal CostBank ChargesOther Rnancial Charges

Total Financial ExpensesTotal ExpensesLess Provision for Income TaxNet Income/(Loss) after Income Tax

January to May 11Iis Month Year toDate

2,904,066.99 800,333.08

88,933,521.0131,83S,407.373,'166,666.66

22,188,597.20733,383.12

17,238,000.376,248,595.07

4,118,847.3591444.23

28,497,220.10150,061,642.35

32,563,642.8721,329,178.374,798,2<46.151,262,003.<46

6,534,945.076,362,141.501,257,871.502,202,510.4716,357,<468.5459,953,070.85

692,415.591,129,390.832,322,993.43999,921.88

2,523,261.681,306,116.25317,806.40291,000.00

1,754,009.583,612,411.58

14,782.8937,898.00

7,312,163.03680,<463.2413,000.00

553,706.639,90$,891.288,~,863.801,38$,336.116,630,093.03

263,466.91(783,313.54)853,425.43222,630.11679,780.90260,433.25

360.0067,024.50236,235.83353,540.50

3,100.0010,681.00

3,072,678.9917,500.00

906,842.701,479,999.08233,560.34458,734.92

1,322,303.4849,968,525.23 9,658,984.40

640,688.342,804,176.63

2,025.00200,983.31

13,22f 493.38 3,647,873.2829,664,326.22123,148,089.<46

3,370,715.67(1,167,106.12)23,542,837.22

Recommending Approval:

ERNEST~N)--NZA. JR.VICe ~~ HR/AD, F<D

3,704,400.07 /

106,171,521.38' .38,084,002.44 ~.3,466,666.66 /

26,307,444.55824,827.35

178,558,862.45

39,098,587.9427,691,319.876,056,117.653,464,513.93

76,310,539.39

955,882.503<46,077.29

3,176,418.861,222,551.993,203,042.581,566,549.50318,166.40358,024.50

1,990,245.413,965,952.08

17,882.8948,579.00

10,384,842.02697,963.2413,000.00

1,460,549.3311,388,890.368,716,424.141,844,071.037,952,396.51

59,627,509.63

4,635,188.9611,272,442.30

29,019.50937,715.90

16,874,366.66152,812,415.683,370,715.67

22,375,731.10

SOCIAL HOUSING FINANCE CORPORATION(A wholly-owned subsidIary of NatIonal Home Mortgage FInance Corporation)

TRIAL BALANCEJune 30, 2013

ACCOUNTDESCRIPTION Balancel, Beginning June, TrenHctlonl Balances, Ending JuneDebit Credit Debit Credit Debit Credit

Cash CollectingOfficers - Tellers - 31,772,631.68 31,772,631.68 -Cash CollectingOfficers - ST 2,699,636.33 44,530,238.76 40,701,893.29 6,527,981.80RevolvingFund 674,066.48 104,148.75 104,148.75 674,066.48Cash in Bank - General Fund 32,272,841.71 35,505,920.67 41,175,620.77 26,603,141.61Cash in Bank - General Fund II 5,414,586.94 23,310,191.61 17,460,565.03 11,264,213.52Cash in Bank - Take Out Fund 75,193,541.26 81,474,851.53 83,014,028.67 73,654,364.12Cash in Bank - e-Tax Fund 25,845.39 2,384,955.63 2,384,735.17 26,065.85Cash InBank - Time Deposit 2,283,336,197.92 23,014,097.71 83,210,480.73 2,223,139,814.90Due from Officers& Employees 1,288,118.32 397,523.00 591,352.79 1,094,288.53Advances to Officersand Employees 186,312.69 205,505.00 53,650.00 338,167.69Due from NHMFC 59,297,962.64 62,798.95 - 59,360,761.59Due from HUDCC 591,886.10 663,496.41 1,344,244.33 (88,861.82)Due from AKPF 1,240,060.14 521,385.89 - 1,761,446.03Due from sss 239,809.34 1,800.00 127,950.00 113,659.34Accounts Receivable-Others 105,562.17 10,839.00 4,298.89 112,102.28OfficeSupplies Inventory 2,284,302.15 275,036.32 668,296.58 1,891,041.89Accountable Forms Inventory 1,081,011.00 - - 1,081,011.00~ SuppUalnventory .38,585.90 - - 38,58!!.9OPrepaid Insurance 1,080,088.88 130,625.00 130,887.50 1,079,826.38Prepaid Subscription 46,800.00 7,150.00 650.00 53,300.00Prepaid Income Tax 52,721.61 · . 52,721.61Prepaid Rent 112,000.00 · - 112,000.00Guaranty Deposits 670,361.15 · . 670,361.15LlR 5,478,793,760.81 111,823,954.95 12,576,846.36 5,578,040,869.40PDLlR 3,371,051,300.37 · - 3,371,051,300.37Items InLitigation 50,925,357.34 · - 50,925,357.34LoanLossReserve 57,289,704.11 · 458,734.92 57,748,439.03Interest Receivables 433,094.94 · - 433,094.94Insurance Receivables 215,967,091.03 3,616,725.52 1,714,930.55 217,868,886.00UnamortizedMortgage OriginationCost 33,886,691.51 · 141,576.79 33,745,114.72Assets Held InTrust - AKPF 548,374,628.38 534,003.30 637,677.64 548,270,954.04Loans Receivable 24,340,286.21 · 256,726.44 24,083,559.77Loans Receivable-CalamityLoan 4,476,195.55 9,558.64 55,189.67 4,430,564.52OfficeBuildings 184,770,000.00 - - 184,770,000.00

Accumulated Depreciation 38,975,130.24 - 517,552.33 39,492,682.57Other Structures 16,560,000.00 - - 16,560,000.00


Accumulated Depreciation 6,290,459.16 - 107,801.39 6,398,260.55OfficeEquipment 3,342,694.61 - - 3,342,694.61

Accumulated Depreciation 1,979,870.62 - 24,847.61 2,004,718.23Furniture& Rxtures 8,344,624.62 19,982.30 - 8,364,606.92

AccumulatedDepreciation 3,159,336.47 - 67,559.20 3,226,895.67

ACCOUNT DESCRIPTION Balances, Beginning June, Transactions Balances, Ending June

Debit Credit Debit Credit Debit CreditIT Equipment & Software 22,196,070.89 52,440.00 - 22,248,510.89

Accumulated Depreciation 13,486,606.79 - 228,964.82 13,715,571.61CommunicationEquipment 3,588,704.15 - - 3,588,704.15

Accumulated Depreciation 3,205,930.51 - 2,957.54 3,208,888.05LibraryBooks 105,618.40 - - 105,618.40

Accumulated Depreciation 32,557.73 - 1,584.28 34,142.01Transportation Equipment 16,715,917.90 - - 16,715,917.90

Accumulated Depreciation 7,411,748.53 - 179,099.12 7,590,847.65Other Assets (Others) 183,805.00 - - 183,805.00

Accumulated Depreciation 141,548.76 - 2,757.08 144,305.84Accounts Payable - MCR 779,789,349.03 35,580,567.99 66,256,358.86 810,465,139.90Accounts Payable - Supplier 3,396,777.24 1,519,185.00 314,165.00 2,191,757.24Due to OffIcers& Employees 37,425.76 - - 37,425.76Performance Warranty Payable 657,830.28 60,000.00 - 597,830.28Performance/Bidders BondPayable 341,714.60 - - 341,714.60Due to BIR 2,444,469.31 1,706,145.51 3,196,723.86 3,935,047.66Due to SSS 183,374.47 171,075.32 149,256.01 161,555.16Due to Pag-Iblg 160,144.36 116,035.36 105,416.71 149,525.71Due to Phllhealth 84,512.50 74,500.00 72,775.00 82,787.50Due to NHMFC 18,871,235.58 - - 18,871,235.58Due to Provident Fund 1,231,494.50 1,219,002.02 1,240,433.98 1,252,926.46Accrued Expenses Payable 5,408,078.42 - - 5,408,078.42Gross Receipt Tax Payable 682,804.66 682,804.66 476,466.20 476,466.20Undistributed Collections 342,157,997.96 38,918,806.97 46,208,537.05 349,447,728.04

- Mvances from Borrowers 61,e98,~.5O 193;949,446.24 195,083,915.03 62,833,338.29Advances from HUDCC 2,500,000.00 - - 2,500,000.00Guaranty Deposits Payable 78,607,499.16 - 2,511,803.89 81,119,303.05Insurance Payable 13,892,240.22 384,828.00 480,145.58 13,987,557.80Deferred Credits 17,830,160.16 - 212,607.94 18,042,768.10OriginationFee Payable 15,132,221.55 474,579.87 1,333,097.35 15,990,739.03Tax Refund Payable 407,277.33 - - 407,277.33Other Payables 282,705.31 11,189.08 18,639.08 290,155.31Other Liabilities 323,555.25 - - 323,555.25Other LongTerm Liabilities 130,835,284.49 859,377.68 - 129,975,906.81Trust Liabilities- NHMFC 10,093,069,113.71 - - 10,093,069,113.71Trust Liabilities- AKPF 548,374,628.38 637,677.64 534,003.30 548,270,954.04Subscribed capital Stock 25,000,000.00 - - 25,000,000.00SubsCriptionReceivable 15,000,000.00 - - 15,000,000.00Retained Earnings 230,313,015.37 - - 230,313,015.37PriorYear'sAdjustment 50,970,374.92 - - 50,970,374.92Service Fee Income 2,904,066.99 - 800,333.08 3,704,400.07Interest Income 88,933,521.01 - 17,238,000.37 106,171,521.38MiscellaneousIncome-Penalty 31,835,407.37 - 6,248,595.07 38,084,002.44Interest Income on Notes 3,466,666.66 - - 3,466,666.66Interest on Savings 22,188,597.20 - 4,118,847.35 26,307,444.55MiscellaneousIncome-Others 733,383.12 - 91,444.23 824,827.35Salaries and Wages - Regular 32,563,642.87 6,534,945.07 - 39,098,587.94cash Gift 940,000.00 - 472,500.00 467,500.0013th MonthPay 26,409.38 4,554,307.17 - 4,580,716.55

ACCOUNT DESCRIPTIONBalances, Beginning June, Transactions Balances, Ending June

Debit Credit Debit Credit Debit CreditYear-end Bonus 2,777,764.63 472,500.00 - 3,250,264.63PERA 1,903,793.11 380,793.12 - 2,284,586.23Representation Allowance 1,680,000.00 337,500.00 - 2,017,500.00Transportation Allowance 1,576,802.25 325,152.32 - 1,901,954.57Clothing/Uniform Allowance 840,000.00 - - 840,000.00Economic Subsidy 7,284,325.00 - - 7,284,325.00Children's Allowance 24,420.00 6,300.00 - 3O,nO.00Meal Allowance 363,250.00 88,875.00 - 452,125.00Rice Subsidy 1,713,600.00 345,600.00 - 2,059,200.00Hospital and Medical Benefits 1,185,715.66 66,392.61 - 1,252,108.27Overtime Pay 1,013,098.34 257,221.28 - 1,270,319.62SSSContributions 813,161.20 207,618.70 - 1,020,779.90Pag-Iblg Contributions 76,900.00 19,800.00 - 96,700.00Phllheelth Contributions 277,600.00 72,600.00 - 350,200.00ECContributions 22,910.00 5,870.00 - 28,780.00Provident Fund Contributions 3,607,674.95 951,982.80 - 4,559,657.75Sick/Vacation Leave Benefit 735,722.88 2,139,510.47 - 2,875,233.35Birthday Gift Benefit 234,000.00 63,000.00 - 297,000.00Retirement Benefits 292,280.58 - - 292,280.58Traveling Expenses 692,415.59 263,466.91 - 955,882.50Training and Seminar Expenses 78,920.00 3,000.00 - 81,920.00Capacity Building 1,050,470.83 90,050.00 876,363.54 264,157.29OffIce Supplies Expenses 831,057.02 243,860.98 - 1,074,918.00~oul'ltable Forms_Expenses - 320,320.00 - 320,320.00Gasoline, 011and Lubricants 586,753.6S 154,836.05 - 741,589.70IT Supplies & Materials 618,733.37 101,123.64 9,861.32 709,995.69Drugs and Medicine Expenses 16,819.00 8,352.25 - 25,171.25Other Supplies Expenses 269,630.39 34,793.83 - 304,424.22Postage and Deliveries 166,091.48 n,99O.52 - 239,082.00Telephone Expenses-Landllne 516,443.00 41,265.10 - 557,708.10Telephone expenses-Mobile 130,787.24 63,743.49 - 194,530.73Internet Expenses 186,600.16 44,631.00 - 231,231.16Water Expenses 220,110.02 50,979.43 - 271,089.45Electricity Expenses 2,303,151.66 628,801.47 - 2,931,953.13Association Dues 1,302,166.25 260,433.25 - 1,562,599.50Membership Dues & Contribution to Organizations 3,950.00 - - 3,950.00Advertising Expenses 317,806.40 360.00 - 318,166.40Printing and Binding Expenses 291,000.00 67,024.50 - 358,024.50Rent Expenses 1,754,009.58 236,235.83 - 1,990,245.41Business Development Expense 3,612,411.58 353,540.50 - 3,965,952.08Transportation and Delivery 14,782.89 3,100.00 - 17,882.89Subscription Expenses 37,898.00 10,681.00 - 48,579.00Legal Services - 56,000.00 - 56,000.00 ~Council/Board Member's Allowance 456,204.02 31,360.61 - 487,564.63 VSpecial Counsel Allowance 8,500.00 1,250.00 - 9,750.00General Services 731,212.47 458,188.47 - 1,189,400.94

~Clerical Services 3,381,567.34 1,753,588.61 - 5,135,155.95Janitorial Services 179,268.21 149,879.23 1,369.17 327,778.27 VSecurity Expenses 1,397,073.43 209,183.91 8,002.17 1,598,255.17

T

ACCOUNTDESCRIPTION Balances, Beginning June, Transactions Balances, Ending June

Debit Credit Debit Credit Debit CreditOther Professional Expenses 1,158,337.56 422,599.50 - 1,580,937.06 ./Repairs and Maintenance 680,463.24 17,500.00 - 697,963.24Donations 13,000.00 - - 13,000.00Discretionary Expenses 417,949.06 898,687.31 - 1,316,636.37Extraordinary Expenses 25,780.00 - - 25,780.00Miscellaneous Expenses 109,9n.57 8,155.39 - 118,132.96Taxes, Duties & Licenses 930,700.89 37,000.90 - 967,701.79 f..-Percentage Tax 2,730,294.93 476,466.20 - 3,206,761.13 VFinal Tax paid on Income 4,437,719.47 823,769.48 - 5,261,488.95 kReal Estate Tax 1,235,041.47 - - 1,235,041.47 VFidelity Bond Premiums 200,000.00 138,750.00 - 338,750.00 ~.

Insurance Expenses 375,134.52 4,012.50 - 379,147.02 f..-Collection Servicing Fee 1,310,321.00 233,560.34 - 1,543,881.34Team Building 622,769.43 - - 622,769.43Gift Check (Grocery Subsidy) 6,545,000.00 - - 6,545,000.00CNA Incentive 4,n3.37 - - 4,773.37Depreciation - Office Building 2,587,761.65 517,552.33 - 3,105,313.98

~.Depreciation - Other Structures 238,016.60 47,603.32 - 285,619.92Depreciation - Office Equipment 152,852.35 24,847.61 - 177,699.96Depreciation - Furniture & FIxtures 331,553.75 67,559.20 - 399,112.95 VDepreciation - IT Equipment & Software 1,130,953.05 228,964.82 - 1,359,917.87 ~-Depreciation - Transportation Equipment 895,495.60 179,099.12 - 1,074,594.72

~Depreciation - Communication Equipment 25,195.33 2,957.54 - 28,152.87Depreciation - Leasehold Improvements 539,006.95 107,801.39 - 646,808.34 ~.

Depreciation - Library Books 7,588.40 1,584;i8 - 9,172.68~Depreciation - Other Assets (Others) 13,785.40 2,757.08 - 16,542.48

Loan Loss 1,385,336.11 458,734.92 - 1,844,071.03Amortization-Origination and Appraisal Cost 707,883.95 141,576.79 - 849,460.74 ~Other Financial Charges 736,732.59 200,983.31 - 937,715.90Bank Charges 26,994.50 2,025.00 - 29,019.50Interest Expenses 3,994,500.62 666,127.07 25,438.73 4,635,188.96 '"Origination and Appraisal Cost 8,468,265.67 2,804,176.63 - 11,272,442.30Income Tax 3 370 715.67 - - 3 370 715.67TOTAL 12 658 930 838.89 12 658 930 838.89 667852943.11 667852943.11 12730 896 644.10 12730 896 644.10

Ma gerFinance &Controllership Department

SOCIAL HOUSING FINANCE CORORATION

A wholly-owned subsidiary of National Home Mortgage Finance Corporation

CASH FLOW STATEMENTAs of September 2013


Amortization CollectionsBusiness & Service Income:Subsidy From National GovernmentOther Income & Receipts:

Total Cash InftowsCash Outflows:

MCR-Take -OutSet-up and Payment of MCR( final 50% )Payment of Personal ServicesPayment of Maintenance & Operating ExpensesPayment of Origination FeeRemittance of MRI premiums (Enrollment & Renewal)Refund of ExcessPaymentsReceivables from GOCCs/OthersTaxes, Premiums & FinesRemittance of SSS/Pag-ibig/PhilhealthPayment of Premium on Fidelity BondInterest portion of amortization paymentsCollection Servicing FeePurchase of Office SuppliesPayment of DividendsPrepayments

Total Cash OutflowsTotal Cash Provided (Used) by Operating ActivitiesCash Flows from Investing Activities

Cash Inftows:Total Cash InftowsCashOutflows:

Payment of long Tenn liabilities (Amort. Of office building)Purchase of Office ,IT,Communication EquipmentPurchase/Construction of Buildings/Furnitures & Fixtures

Total Cash OutflowsTotal Cash Provided (Used) by Investing ActivitiesCash Provided by Operating and Investing ActivitiesAdd: Cash .. Cash Equivalents - BeginningCash .. Cash Equivalents - Ending

by: Recommending Approval: Approved by:

454,668,594.6448,628,100.0311,300,710.00

734,374,939.881,248,972,344.55

673,023,299.64(193,006,143.97)101,712,665.3070,243,749.599,845,002.91

32,386,724.66158,879.69

10,575,733.8528,660,971.685,341,356.09

16,875.006,077,136.332,329,241.762,280,796.08

74,174,928.00140,351.65

823,961,568.26425,010,776.29

5,744,929.961,572,268.76693,197.55

8,010,396.27(8,010,396.27)

417,000,380.022,136,275,531.172,553,275,911.19

Noted by:

M~~~OS~:;t

0.00

0.00

SOCIAL HOUSING FINANCE CORPORATION(A whoIIy-owned subsidiary of National Home MoItgage RnanceCorporation)

BALANCE S~EETSeptember 30, !2013

ASSETSCURRENT ASSETS

Ca.hOn HandCash Collecting Officerspetty Cash Fund

Cash in BlInkCash in Bank - Current AccountCash in Bank - Time Deposit


InventoriesOffice Supplies InventoryAccountable Fonns InventoryOther Supplies Inventory

PrepaymentsPrepaid InsurancePrepaid SubscriptionPrepaid Income TaxPrepaid RentPrepaid IT L.icense

other CUrrent AssetsGuaranty Deposits

TOTAL CURRENT ASSETS

ASSETS HELD IN TRUSTNHMFC

Loan Installment ReceivablEM:urrentLoan Installment Receivable-Past DueItems in UtigationTotal ReceivableLess: Loan Loss ReserveInterest ReceivablesInsurance ReceivablesUnamortized Mortgage Origination Cost

AKPF

TOTAL ASSETS HELD IN TRUST

NON - CURRENT ASSETSLONG-TERM LOANS RECEIVABLES

Loans ReceivablePROPERTY and EQUIPMENT

BuildinaOffice Buildings




0tIice Equipment. Furniture. f"uduresOffice Equipment

Accumulated DepreciationFurniture & Rxtures






Other Equipment-OthersAccumulated DeprecIation

4,816,972.84674,066.48 5,491,039.32

124,969,502.842,422,815,369.03

762,900.401,329,842.06

60,436,112.93132,230.08

2,547,784,871.87

62,661,085.47

1,545,980.481,081,011.00

38,585.90 2,665,577.38

1,042,940.6251,350.0052,721.61112,000.00281,066.66 1,540,078.89

670,361.15

2,620,813,014.08

5,744,613,614.933,371,051,300.37

50,925,357.349,166,590,272.64

59,118,699.63 9,107,471,573.01433,094.94

222,186,323.2133,320,384.35 9,363,411,375.51

547,300,873.31

9,910,712,248.82

27,459,749.94

184,770,000.0041,045,339.56 143,724,660.44

13,187,062.2016,560,000.003,372,937.80

14,453,519.016,721,664.72 7,731,854.29

3,425,730.112,085,120.77 1,340,609.34

5,034,181.51

7,774,936.15

371,508.26

66,839.89

8,466,188.673,432,007.16

22,150,846.8914,375,910.743,588,704.153,217,195.89105,618.4038,778.51

16,715,917.908,128,145.01 8,587,m.89

32,558.80183,805.00151,246.20

215,311,733.71TOTAL NON-CURRENT ASSETS

TOTAL ASSETS 12,746,836,996.61

Page 1 of2

872,917,916.74

:

LIABILITIES AiND EQUITY

CURRENT LIABIlITIES

Payable AccountsAccounts Payable - MCR/SupplierDue to Officers & EmployeesPerformance Warranty PayablePerfonnance/Bidders Bonds Payable

Inter-Agency AccountsOueto BIRDuetoSSSDue to Pag-ibigDue to PhilhealthDue to HUDCCDue to Other GOCCs

otJIer Uability AccountsAccrued Expenses PayableOther Payables

Undistributed CollectionsAdvances from BorrowersGuaranty Deposits PayableInsurance PayableDeferred CreditsOrigination Fee PayableTax Refund PayableOther Payables-others

Other Uabilities

TOTALCURRENT LIABIlITIES

LONGTERM LIABIlITIES

Loans PayableOther long-Term Uabilities

TOTAL LONG-TERM LIABIlITIES

TRUST UABIlITIESTL- NHMFCTL- AKPF

TOTALTRUST LIABIlITIES

TOTALLIABIlITIES

STOCKHOLDERS EQUITY

Authorized Capital Stock=P=I00,OOO,OOO.OOdivided into 100,000 sharesof Common Stock @ =P=I,OOOpar value/shareSubscribed Capital StockLess Subscription Receivable

Paid in CapitalRetained Earnings, Beg.Add/Deduct Prior Period AdjusbnentsTotalAddjDeduct Income (Loss) for the periodRetained Earnings, Ending

TOTALUABIlITIES " EQUITY

~

. Approval. Approved by:

ERNESTO ATIE~ JR. E~ T. MANICIO_.... MSG. HR/AD. F<D/' -""~. _ .........

_ ~,~",._o;;MaI:IiIg~r, Finance &Controllership Department

871,863,219.7837,425.76

818,211.60199,059.60

5,491,261.46180,058.70157,501.6183,975.00

2,500,000.0020,156,343.21

5,850,864.32

355,998,380.2670,260,435.4782,349,405.7813,281,141.9418,472,245.5817,396,674.42

407,277.33366,138.86323,555.25

25,000,000.0015,000,000.00

230,313,015.37(30,003,406.45)200,309,608.9251,724,299.04

28,569,139.98

564,706,119.21

1,466,193,175.93

128,239,925.70

128,239,925.70

10,343,069,113.71547,300,873.31

I10,890,369,987.02 I

12,484,803,088.65 I

10,000,000.00

252,033,907.96

12,746,836,996.61

Noted by:

~~OUVE;OS

Page2 6t2

(/

I

SOCIAL HOUSING ~ CORPORATION(A whoIly-owned subsidiary d National Horne Mortgage Finance Corporation)

STATEMENT OF INCOME AND EXPENSESFor the period ending September 30, 2013

Income:Business and Service Income

Interest IncomeOther Business and Service Income

Subsidy IncomeSubsidy from National Government

other IncomeOther Income

Gross Income

Less: ExpensesPeno_1Services

Salaries &.WagesOther CompensationPersonnel Benefit ConbibutionOther Personnel Benefits

Total Personal ServicesMaintenance" otherOpendina Expenses

Travelling ExpensesTraining ExpensesSupplies &. Materials ExpensesCommunication ExpensesUtility ExpensesContribution to OrganizationAdvertising ExpensesPrinting &. Binding ExpensesRent ExpensesRepresentation ExpensesTransportation &.Delivery Exp.Subscription ExpensesProfessional ServicesGeneral ServicesRepairs &.MaintenanceSubsidies and DonationsDiscretionary, Extraordinary &.Misc. ExpensesTaxes, Insurance premiums and Other FeesOther ExpensesLoan LossNon - cash Expenses

TotalMOOEFinancial Expenses

Interest ExpensesOrigination &.Appraisal CostBank ChargesOther Financial Olarges

Total FinancialExpensesTotal ExpensesNet Income/(Loss) before Income TaxLess Provision for Income TaxNet Income/(loss) after Income Tax

229,964,597.255,497,249.01

11,300,710.00

1'869,000.03247, ,556.29

52,157,212.7331,1:38,218.038,5~7,39O.153,566,226.11

95,459,047.02

1,969,434.561,417,917.144,296,073.621,8141,691.914,415,802.672,087,416.00627,464.80-497,581.45

2,581,094.075,~3,678.82

17,882.8967,740.00

9,2:98,888.924,332,605.241,004,349.61

13,000.00~7,409.49

13,874,355.739,390,783.353,:a14,331.6310,620,976.5977,440,478.19

5,915,591.4914,197,568.17

43,126.001,~7,154.94

22, 23,440.60194,922,966.1152 !186.59O.185 ~.670.10

47,545,920.08

RecomJi Approval:

ERNEST~ ATIENZA. JR. :VICe -MSG,HR/AD,FCOI

This Month

26,523,739.22878,411.62

144,332.7627,546,483.60

6,627,107.841,795,651.581,263,938.35

63,000.009749 697.77

362,924.48140,750.00525,082.91269,102.63581,181.95260,433.25150,982.4029,698.25

224,179.20590,253.60

9,764.002,565,212.491,350,n3.06

53,794.82826,507.4259,352.82

1,061,499.99564,384.40

1,353,379.9710,979,207.64

(19,443.73)1,412,312.07

3,925.00136,963.41

1,533,756.7522,262,662.165,283,821.44905,442.48

4,378,378.96

Approved by:

Year toDate

256,488,336.476,375,660.63

11,300,710.00

1,191,332.79275,356,039.89

58,784,320.5732,933,869.619,861,328.503,629,226.11

105,208,744.79

2,332,359.041,558,667.144,821,156.532,110,794.544,996,984.622,347,849.25778,447.20527,279.70

2,805,273.275,593,932.42

17,882.8977,504.00

11,864,101.415,683,328.301,058,144.43839,507.42926,762.31

14,935,855.n9,955,167.753,214,331.6311,974,356.5688,419,686.13

5,896,147.7616,209,880.24

47,051.001,404,118.35

23,557,197.35217,185,628.2758,170,411.626,446,112.5851,724,299.04

Noted by:

~~osPresident

SOCIAL HOUSING FINANCE CORPORATION(A wholly-owned subsidiary of National Home Mortgage Anance Corporation)

TRIAL BALANCESeptember30, 2013

ACCOUNTDESCRIPTION Balane .. , Beoinnlng September, Tran .. ctionl Balances, Ending September

Debit Credit Debit Credit Debit CreditCash Collecting OffIcers - TeUers - 285,031,220.43 285,031,220.43 -Cash Collecting OffIcers - ST 4,562,610.52 299,074,900.19 298,820,537.87 4,816,972.84Revolving Fund 665,246.73 231,037.17 222,217.42 674,066.48Cash In Bank - General Fund 73,695,565.44 40,633,811.06 65,871,102.02 48,458,274.48Cash in Bank - General Fund II 8,313,672.77 25,125,370.82 16,460,060.65 16,978,982.94Cash In Bank - High Density Housing Program 11,300,360.00 4,017.92 - 11,304,377.92Cash in Bank - Take Out Fund 32,796,664.29 300,650,213.22 285,245,099.22 48,201,778.29Cash in Bank - e-Tax Fund 26,065.55 2,006,455.61 2,006,431.95 26,089.21Cash in Bank - Time Deposit 2,172,469,442.62 252,053,815.75 1,707,889.34 2,422,815,369.03Due from OffIcers & Employees 688,821.92 178,332.00 104,253.52 762,900.40Advances to OffIcers and Employees 1,856,875.35 852,194.00 1,379,227.29 1,329,842.06Due from NHMFC 59,309,760.82 2,442.84 14,241.02 59,297,962.64Due from HUDCC 19,608.86 245,618.20 684,378.83 (419,151.77)Due from AKPF 1,078,029.03 323,613.69 - 1,401,642.72Due from SSS 155,659.34 - - 155,659.34Accounts Receivable-others 124,183.95 11,121.45 3,075.32 132,230.08OffIce Supplies Inventory 1,749,564.19 122,950.50 326,534.21 1,545,980.48IACcounraole t'Orms Inventory ~~-~ 1,081,~ --.- --_.. - l,Q8l,011.ClOother Supplies Inventory 38,585.90 - - 38,585.90Prepaid Insurance 1,036,176.38 49,651.74 42,887.50 1,042,940.62Prepaid Subscription 52,000.00 - 650.00 51,350.00Prepaid Income Tax 52,721.61 - - 52,721.61Prepaid Rent 112,000.00 - - 112,000.00Prepaid IT License 316,577.50 - 35,510.84 281,066.66Guaranty Deposits 670,361.15 - - 670,361.15UR 5,698,722,239.76 61,830,001.25 15,938,626.08 5,744,613,614.93PDUR 3,371,051,300.37 - - 3,371,051,300.37Items in Utigation 50,925,357.34 - - 50,925,357.34Loan Loss Reserve 59,118,699.63 - - 59,118,699.63Interest Receivables 433,094.94 - - 433,094.94Insurance Receivables 220,238,m.68 4,079,530.98 2,131,985.45 222,186,323.21Unamortized Mortgage Origination Cost 33,461,961.14 - 141,576.79 33,320,384.35Assets Held in Trust - AKPF 547,051,744.57 640,425.83 391,297.09 547,300,873.31Loans Receivable 23,462,773.56 - 296,336.14 23,166,437.42Loans Receivable-Calamity Loan 4,338,959.96 .. 9,542.23 55,189.67 4,293,312.52OffIce Buildings 184,770,000.00 - - 184,770,000.00

Accumulated Depreciation 40,527,787.23 - 517,552.33 41,045,339.56other Structures 16,560,000.00 - - 16,560,000.00


Accumulated Depreciation 6,613,863.33 - 107,801.39 6,721,664.72OffIce Equipment 3,425,730.11 - - 3,425,730.11

Accumulated Depreciation 2,058,454.24 - 26,666.53 2,085,120.77

Page 1 of 4

ACCOUNTDESCRIPTION Balances, Beginning Septembe~Transaddonl Balances, Ending SeptemberDebit Credit Debit Credit Debit Credit

Furniture & Fixtures 8,466,188.67 - - 8,466,188.67Accumulated Depreciation 3,363,525.16 - 68,482.00 3,432,007.16

IT Equipment & Software 22,110,346.89 40,500.00 - 22,150,846.89Accumulated Depreciation 14,152,040.67 - 223,870.07 14,375,910.74

Communication Equipment 3,588,704.15 - - 3,588,704.15Accumulated Depreciation 3,214,930.62 - 2,265.27 3,217,195.89

Library Books 105,618.40 - - 105,618.40Accumulated Depreciation 37,252.40 - 1,526.11 38,778.51

Transportation Equipment 16,715,917.90 - - 16,715,917.90Accumulated Depreciation 7,949,045.89 - 179,099.12 8,128,145.01

Other Assets (Others) 183,805.00 - - 183,805.00Accumulated Depreciation 149,820.00 - 1,426.20 151,246.20

Accounts Payable - MCR 842,497,174.66 10,225,990.39 37,303,268.07 869,574,452.34Accounts Payable - Supplier 2,186,153.74 26,788.50 129,402.20 2,288,767.44Due to OffIcers & Employees 37,425.76 - - 37,425.76Performance Warranty Payable 657,830.28 - 160,381.32 818,211.60Performance/Bidders Bond Payable 172,059.60 - 27,000.00 199,059.60Due to BIR 4,434,785.45 1,551,506.73 2,607,982.74 5,491,261.46DuetoSSS 172,798.35 160,199.20 167,459.55 180,058.70Due to Pag-Iblg 138,834.23 94,625.23 113,292.61 157,501.61Due to Phllheaith 82,225.00 72,012.50 73,762.50 83,975.00Due to NHMFC 18,867,977.98 - - 18,867,977.98Due toAKPF 200.00 - - 200.00Due to Provld~nt Fullcl 1,258,025.64 1,245,533.16 1,275,672.75 1,288,165.23Accrued Expenses Payable 5,408,078.42

~~- ~~. --

5,'108;078.42- -Gross Receipt Tax Payable 454,925.22 454,925.22 442,785.90 442,785.90Undistributed Collections 353,205,191.83 48,534,587.45 51,327,775.88 355,998,380.26Advances from Borrowers 68,225,318.24 182,839,607.56 184,874,724.79 70,260,435.47Advances from HUDeC 2,500,000.00 - - 2,500,000.00Guaranty Deposits Payable 82,642,914.53 789,243.09 495,734.34 82,349,405.78Insurance Payable 13,483,419.82 346,436.00 144,158.12 13,281,141.94Deferred Credits 18,472,245.58 - - 18,472,245.58Origination Fee Payable 16,887,343.68 129,043.11 638,373.85 17,396,674.42Tax Refund Payable 407,277.33 - - 407,277.33Other Payables 358,988.86 15,232.03 22,382.03 366,138.86Other liabilities 323,555.25 - - 323,555.25Other Long Term liabilities 128,239,925.70 - - 128,239,925.70Trust liabilities - NHMFC 10,093,069,113.71 - 250,000,000.00 10,343,069,113.71Trust liabilities - AKPF 547,051,744.57 391,297.09 640,425.83 547,300,873.31Subscribed Capital Stock 25,000,000.00 - - 25,000,000.00Subscription Receivable 15,000,000.00 - - 15,000,000.00Retained Earnings 230,313,015.37 - - 230,313,015.37Prior Year's Adjustment 37,167,618.16 11,200.00 7,175,411.71 30,003,406.45Interest Income-Loans 142,127,271.26 - 17,539,192.27 159,666,463.53Interest Income-Penalty-Loans 51,456,519.96 - 6,152,447.15 57,608,967.11Interest Income-Notes 3,466,666.66 - - 3,466,666.66Interest Income-Bank Deposits 32,914,139.37 - 2,832,099.80 35,746,239.17Other Business and Service Income 5,497,249.01 - 878,411.62 6,375,660.63Other Income 1,047,000.03 - 144,332.76 1,191,332.79

ACCOUNTDESCRIPTION Balances, Beginning Septembe~Transactions Balances, Ending September

Debit Credit Debit Credit Debit CreditSubsidy from NationalGovernment 11,300,710.00 - - 11,300,710.00Salaries and Wages - Regular 52,157,212.73 6,627,107.84 - 58,784,320.57Cash Gift 467,500.00 - - 467,500.0013th MonthPay 4,584,183.97 - - 4,584,183.97Year-end Bonus 3,254,264.63 - - 3,254,264.63PERA 3,047,505.79 388,459.79 - 3,435,965.58Representation Allowance 2,654,500.00 346,500.00 - 3,001,000.00Transportation Allowance 2,514,714.25 334,514.24 - 2,849,228.49ClothlngJUniformAllowance 840,000.00 - - 840,000.00EconomicSubsidy 7,284,325.00 - - 7,284,325.00Children'sAllowance 42,795.00 6,240.00 - 49,035.00MealAllowance 626,225.43 98,775.00 - 725,000.43RIceSUbsidy 2,746,800.00 343,800.00 - 3,090,600.00Hospitaland MedicalBenefits 1,261,706.40 - - 1,261,706.40Honoraria 15,000.00 20,613.34 - 35,613.34Overtime Pay 1,798,697.56 256,749.21 - 2,055,446.77SSS Contributions 1,424,675.30 202,248.00 - 1,626,923.30Pag-IblgContributions 134,900.00 19,100.00 - 154,000.00PhllhealthContributions 491,550.00 70,112.50 - 561,662.50ECContributions 40,160.00 5,710.00 - 45,870.00Provident Fund Contributions 6,506,104.85 966,767.85 - 7,472,872.70Sick/VacatlonLeave Benefit 2,892,945.53 - - 2,892,945.53BirthdayGiftBenefit 381,000.00 63,000.00 - 444,000.00

BMi!!I'Its ~92,280.~ - - 292,280.58-- -

Traveling Expenses 1,969,434.56 362,924.48 - ~,332,359:04Training and Seminar Expenses 99,420.00 140,750.00 - 240,170.00Capacity Building 1,318,497.14 - - 1,318,497.14OfficeSupplies Expenses 1,401,622.25 206,966.05 37,918.18 1,570,670.12Accountable Forms Expenses 320,320.00 - - 320,320.00Gasoline, Oiland Lubricants 1,085,676.74 151,682.35 - 1,237,359.09IT Supplies &Materials 1,058,622.41 191,543.52 - 1,250,165.93Drugs and MedicineExpenses 30,065.50 - - 30,065.50Other Supplies Expenses 399,766.72 25,721.65 12,912.48 412,575.89Postage and Deliveries 389,858.52 46,867.48 - 436,726.00Telephone Expenses-Landllne 756,844.47 134,054.91 - 890,899.38Telephone Expenses-Mobile 385,201.76 47,602.93 - 432,804.69Internet Expenses 309,787.16 40,577.31 - 350,364.47Water Expenses 381,745.15 36,854.53 - 418,599.68ElectricityExpenses 4,034,057.52 544,327.42 - 4,578,384.94AssociationDues 2,083,466.00 260,433.25 - 2,343,899.25Membership Dues & Contributionto Organizations 3,950.00 - - 3,950.00AdvertisingExpenses 627,464.80 150,982.40 - 778,447.20Printing and BindingExpenses 497,581.45 29,698.25 - 527,279.70Rent Expenses 2,581,094.07 224,179.20 - 2,805,273.27Business Development Expense 5,003,678.82 590,253.60 - 5,593,932.42Transportation and Delivery 17,882.89 - - 17,882.89Subscription Expenses 67,740.00 9,764.00 - 77,504.00Legal Services 98,000.00 - - 98,000.00Council/BoardMember's Allowance 699,122.21 358,641.00 - 1,057,763.21

ACCOUNTDESCRIPTION Balances, Beginning September, Transactions Balances, Ending September

Debit Credit Debit Credit Debit CreditSpecial Counsel Allowance 14,750.00 6,250.00 - 21,000.00Clerical Services 6,315,735.15 1,906,065.15 - 8,221,800.30Other Professional Expenses 2,171,281.56 294,256.34 - 2,465,537.90Janitorial Services 487,615.42 186,163.08 1,369.17 672,409.33Security Expenses 2,368,537.81 781,300.28 8,002.17 3,141,835.92Other General Services 1,476,452.01 392,631.04 - 1,869,083.05Repairs and Maintenance 1,004,349.61 53,794.82 - 1,058,144.43Donations 13,000.00 826,507.42 - 839,507.42Discretionary Expenses 608,909.92 73,701.85 33,000.00 649,611.77extraordinary Expenses 25,780.00 - - 25,780.00Miscellaneous Expenses 232,719.57 18,650.97 - 251,370.54Taxes, Duties 80. Licenses 984,964.91 8,065.30 - 993,030.21Percentage Tax 4,153,130.74 442,785.90 - 4,595,916.64Rnal Tax paid on Income 6,582,827.90 566,419.96 - 7,149,247.86Real Estate Tax 1,235,041.47 · - 1,235,041.47Fidelity Bond Premiums 434,375.00 40,625.00 - 475,000.00Insurance Expenses 484,015.71 3,603.83 - 487,619.54Collection Servicing Fee 2,139,061.55 238,518.55 - 2,377,580.10Team Building 622,769.43 · - 622,769.43Cultural and Athletic Activities 36,045.00 360,865.85 - 396,910.85Gift Check (Grocery Subsidy) 6,545,000.00 · 35,000.00 6,510,000.00CNA Incentive 47,907.37 · - 47,907.37Depreciation - OffIce Building 4,140,418.64 517,552.33 - 4,657,970.97Depreciation -.Other Stru~res 380,826.56 47,603.32 - 428,429.88Depreciation - OffIce Equipment 231,435.97 26,666.53 . 258,10230Depreciation - Fumiture 80. Rxture5 535,742.44 68,482.00 - 604,224.44DepreCiation - IT Equipment 80. Software 1,796,386.93 223,870.07 . 2,020,257.00DepreCiation - Transportation Equipment 1,432,792.96 179,099.12 - 1,611,892.08Depreciation - Communication Equipment 34,195.44 2,265.27 - 36,460.71Depreciation - Leasehold Improvements 862,411.12 107,801.39 - 970,212.51DepreCiation - Library Books 12,283.07 1,526.11 - 13,809.18Depreciation - Other Assets (Others) 22,056.64 1,426.20 - 23,482.84Loan Loss 3,214,331.63 · - 3,214,331.63Amortization-Origination and Appraisal Cost 1,132,614.32 141,576.79 - 1,274,191.11Amortization-IT Licenses 39,812.50 35,510.84 - 75,323.34Other Rnancial Charges 1,267,154.94 136,963.41 - 1,404,118.35Bank Charges 43,126.00 3,925.00 - 47,051.00Interest Expenses 5,915,591.49 - 19,443.73 5,896,147.76Origination and Appraisal Cost 14,797,568.17 1,412,312.07 - 16,209,880.24Income Tax 5540 670.10 905442.48 - 6446112.58TOTAL 12844868 858.74 12 844 868 858.74 1 543.400.744.51 1543400744.51 13 157 159 189.90 13 157 159 189.90

erFinance 80. Controllership Department

age

IIIIIIIIIIIII

•••It

••

SOCIAL HOUSING FINANCE CORORATIONCASH FLOW STATEMENT

December 31, 2013(with comparative figures for CY2012)

2012(Restated)

CASH FLOWS FROM OPERATING ACTIVmESAmortization Collections from BorrowersSubsidy Income

SubSidyFrom National GovernmentReceipt of CMPFund transferred from NHMFC

Other IncomeReceipts of interests from depositsReceipts of interest on NotesService Fee IncomeMisc. IncomeInsurance Prepayments

Other ReceiptsOther ReceiptsReceipts of interest receivable-investments

Cash paid for loan take-outs, employees and suppliersNet cash Provided by Operating Activities

CASH FLOWS FROM INVESTING ACTIVmESLeasehold/Office ImprovementsPurchase/Construction of Buildings/Fumitures & FixturesPurchaseof Office ,IT,Communication EquipmentPurchaseof Transportation EquipmentPayment of Long Term Liabilities (Amort. Of office building)

Net CashUsed In Investing ActivitiesNet Increase in CashCashat Beginning of YearCASH AT END OF YEAR

2013

622,727,824

11,300,710750,000,000

45,961,9703,466,6679,224,4481,387,0343,966,453

236,484,7162,096,791

(1,080,825,133)605,791,479

o(823,594)

(1,623,449)

°(8,410,605)

582,967,64

°1,250,000,000

(703,54(451,63.

(5,667,89(6,921,45(7,144,53

(10,857,648) (20,889,06594,933,831

2,136,275,5311,086,453,751,049,821,78

2,731,209,362 2,136,275 53

RecommendingApproval:

ERNEST~ ATIENZA JR.VP-M~D,FCD

Approved by:

~~President

IIII

IIIII

IIIIIIII

•IIII

•

SOCIAL HOUSING FINANCE CORPORATIONBALANCE SHEET

December 31, 2013(with comparative figures for CY2012)

2012(Restated)

ASSETS

984,842,868 683,778,92125,687,785 34,826,10<

603,491,069 474,434,761,614,021 722 1,193039,79(

124,697,982 135,873,34'

10,593,069,114 9,843,069,11'545,629,144 547,761,31

11,138,698,258 10,390,830,42'12,877,417,961 11,719,743,56(

217,600,129 245,517,46E13,095,018,090 11,965,261,02E

2013

CURRENT ASSETSCashon hand and in banksReceivablesOther current assets

2,731,209,362 2,136,275,5364,987,345 64,531,725,396,042 5,392,91

2,801,592,748 2,206,200,16

9,533,082,744 8,983,144,76545,629,144 547,761,31

10,078,711,888 9,530,906,07

26,991,094 30,468,40185,979,955 197,686,381,742,404 -

214,713,454 228,154,7813,095,018,090 11,965,261,02l

ASSETS HELD IN TRUSTNHMFCAbot-Kaya PabahayFund

NON-CURRENT ASSETSLong-tenn receivablesProperty and equipment-netIntangible Assests

TOTAL ASSETS

LIABILITIES AND STOCKHOLDER'S EQUITYCURRENT LIABILITIESPayablesInter-agency PayablesOther Liabilities

LONG-TERM LIABILITIESOther Long-tenn Liabilitites

TRUST LIABILITIESNHMFCAbot-Kaya PabahayFund

TOTAL LIABILITIESSTOCKHOLDER'S EQUITYTOTAL LIABILITIES &. STOCKHOLDER'S EQUITY

~bYRecommendingApproval:

M~/",~ERNESTO N. A ENZA, JR. EOlJtlQIVl T. MANICIO

Approved by:

/.~ r:MA"ANA R:orwlROSPresident

111=

SOCIAL HOUSING FINANCE CORPORATIONSTATEMENT OF INCOME AND EXPENSESfo ...the yea ...ended Decembe ...31, 2013(with comparative figures for CY2012)

2013 2012Income(Restated)Interest Income on Loans 214,363,648 238,212,490Interest On SavingsDeposits 49,415,879 67,972,682Interest Income On Notes 3,466,667 12,000,000Service Fees 9,382,933 8,948,943MiscellaneousIncome 90,950,709 92758,346Gross Income 367,579,835 419,892,461

Less: ExpensesPersonal Services

Salaries and Wages 79,223,427 68,397,063Other Personnel Benefits 6,072,971 43,194,087Other Compensation 53,740,644 35,342,573Personnel Benefit Contribution 14,979,879 2,883J59Total Personal Services 154,016,921 149,817,482Maintenance 8r. Other Operating ExpensesLoan Loss 4,385,180 55,904,368Professional Services 34,627,657 40,351,819Taxes, Insurance premiums and Other Fees 19,618,271 25,051,646Depreciation!Amortization 13,927,743 13,934,177Origination & Appraisal Cost 22,139,485 11,203,273Supplies and Materials 6,502,785 7,358,151Utility 7,538,594 7,183,197Representation 9,860,833 5,993,464Travelling 4,245,546 4,062,998Training and Seminar 2,015,038 3,437,604Rent 3,473,750 3,319,861Confidential, Extraordinary and Miscellaneous 2,872,016 3,321,889Communication 3,117,479 3,092,172Building Assoc. Contribution to Organization 3,129,149 3,126,599Repairs and Maintenance 1,478,476 904,453Advertising 1,094,425 730,862Printing and Binding 862,406 803,310Subsidiesand Donations 2,262,655 365,144Subscription 117,056 133,170Transportation and Delivery 17,883 44,453Miscellaneous 18,370,216 1,826,931Total MOOE 161,656,641 192,149,542

Financial ExpensesInterest Expenses 8,423,728· 8,376,900Bank Charges 81,751 77,526Other Financial Charges 2,158,792 1,716644Total Financial Expenses 10,664,271 10,171,070Total Expenses 326,337834 352,138,094

Net Income/(Loss) before Income Tax 41,242,001 67,754,367Less Provision for Income Tax 6,446,113 19222,842Net Income/(Loss) after Income Tax 34,795,889 48,531,525Add: Subsidy from National Government 11,300710 -Net Income/(Loss) and Subsidies 46,096,599 48,531,525

RecommendIngApproval:

ERNESTO~. ATIENZA, lR. E:UUl'U(A!;1UVICe~-MSG, HR/AO, FCD

Approved by" •

/.~MAl"ANA R. OUVEROSPl:esideut:

SOCIAL HOUSING FINANCE CORPORATION(A wholly-owned subsidiary of National HomeMortgage FinanceCorporation)

STATEMENT OF CHANGES IN EQUITYFor the year ended December31,2013

(In Philippine Peso)

RetainedPaid In Capital Earnings Total Equity

Balancesat December31,2012 10,000,000.00 312,071,709.00 322,071,709.00DividendsPaid (74,174,928.00) (74,174,928.00)PriorPeriodAdjustment (50,910,841.00) (50,910,841.00)Net Income, as restated 48,531,526.00 48,531,526.00Isaiances, oecernoer .si.2012, as restated 10,000,000.00 235,517466.00 245,517,466.00

~-

Balances, December31, 2012, as restated 10,000,000.00 235,517,466.00 245,517,466.00DividendsPaid (49,615,722.00) (49,615,722.00)Net Income 46,096,599.00 46,096,599.00PriorPeriodAdjustment (24,398,214.00) (24,398,214.00)[satances,December si,2013, as restated 10,000,000.00 207,600,129.00 217,600,129.00

..........~.~I Finance&lership Department

ERNESTO~TIENZA, JR.Vicepresi~tMSG, HR/AD,FeD

Approved by:

MA~~President

RecommendingApproval:


TRIAL BALANCEDecember 31, 2013

ACCOUNTDESCRIPTION Balances, Beginning December, Transactions Balances, Ending DecemberDebit Credit Debit Credit Debit CreditCash CollectingOfficers - Tellers - 282,894,572.98 282,894,572.98 -Cash CollectingOfficers - ST 5,196,978.34 308,479,230.53 303,035,894.81 11,640,314.15Revolving Fund 674,056.48 149,409.96 149,409.96 674,066.48Cash in Bank - General Fund 18,851,099.13 38,401,438.87 27,381,614.30 29,870,923.70Cash in Bank - General Fund II 3,426,080.83 41,502,533.44 26,552,138.03 18,376,476.24

Cash in Bank - High Density Housing Program 5,654,022.92 4,710.50 - 5,658,733.42Cash in Bank - Take Out Fund 131,983,751.17 428,379,325.33 463,369,635.17 96,993,441.33Cash In Bank - e-Tax Fund 26,089.51 2,787,274.21 2,787,208.25 26,155.47Cash In Bank - Time Deposit 2,292,430,237.27 416,024,042.90 140,485,028.97 2,567,969,251.20Due from Officers & Employees 630,135.18 741,937.76 1,280,065.84 92,007.10Advances to Officers and Employees 1,412,307.15 720,471.80 2,107,014.84 25,764.11Due from NHMFC 59,320,657.65 3,442.84 30,665.01 59,293,435.48Due from HUDCC 184,151.84 749,431.10 · 933,582.94Due from AKPF 1,621,539.59 566,259.19 323,857.88 1,863,940.90Due from SSS 128,809.34 69,000.00 40,800.00 157,009.34Accounts Receivable-others 136,295.19 18,777.81 58,770.75 96,302.25Accrued Interest Receivable - 2,525,302.78 · 2,525,302.78Office Supplies Inventory 1,738,680.68 358,803.70 123,798.31 1,973,686.07Accountable Forms Inventory 1,081,011.00 · · 1,081,011.00other Supplies Inventory 38,585.90 · · 38,585.90Prepaid Insurance 1,065,498.96 · 52,333.33 1,013,165.63Prepaid Subscription 79,300.00 · 650.00 78,650.00Prepaid Income Tax 52,721.61 · · 52,721.61Prepaid Rent 112,000.00 272,003.53 112,000.00 272,003.53Prepaid IT Ucense 237,593.32 - 21,736.67 215,856.65Guaranty Deposits 670,361.15 - · 670,361.15UR 5,869,474,723.73 51,704,134.84 13,387,660.25 5,907,791,198.32PDUR 3,371,051,300.37 · · 3,371,051,300.37Items In Utigation 50,925,357.34 - · 50,925,357.34Loan Loss Reserve 60,193,645.85 · 95,902.28 60,289,548.13Interest Receivables 433,094.94 - · 433,094.94Insurance Receivables 224,175,654.73 8,196,670.45 2,096,092.49 230,276,232.69Unamortized Mortgage Origination Cost 33,037,230.77 - 142,122.16 32,895,108.61Assets Held InTrust - AKPF 547,013,203.68 594,798.32 1,978,857.92 545,629,144.08Loans Receivable 23,097,927.58 - 267,226.44 22,830,701.14Loans Receivable-Calamity Loan 4,202,602.32 10,267.47 52,476.47 4,160,393.32Office Buildings 184,770,000.00 - - 184,770,000.00

Accumulated Depreciation 42,080,444.22 - 517,552.33 42,597,996.55Other Structures 15,560,000.00 - - 16,560,000.00Accumulated Depreciation 3,468,144.44 - 47,603.32 3,515,747.76Leasehold Improvements 14,453,519.01 - - 14,453,519.01Accumulated Depreciation 6,937,267.50 - 115,001.39 7,052,268.89Office Equipment 3,425,730.11 43,680.00 500,000.00 2,969,410.11

Page 1 of5



ACCOUNTDESCRIPTIONBalances, Beginning December, Transactions Balances, Ending December

Debit Credit Debit Credit Debit Credit

Accumulated Depreciation 2,138,453.83 90,000.00 26,423.83 2,074,877.66

Fumiture & Fixtures 8,565,438.42 529,630.00 125,249.75 8,969,818.67

Accumulated Depreciation 3,569,013.02 8,910.00 61,832.37 3,621,935.39

IT Equipment 22,150,846.89 3,247,953.00 4,449,434.65 20,949,365.24

Accumulated Depreciation 14,752,419.48 2,486,133.75 166,955.43 12,433,241.16

Communication Equipment 3,588,704.15 - - 3,588,704.15

Accumulated Depreciation 3,220,552.05 - 1,090.89 3,221,642.94

Library Books 105,618.40 - - 105,618.40

Accumulated Depreciation 41,800.73 · 1,511.11 43,311.84

Transportation Equipment 16,715,917.90 3,600,000.00 3,600,000.00 16,715,917.90

Accumulated Depreciation 8,438,450.39 · 131,206.26 8,569,656.65

Other Assets (Others) 183,805.00 · · 183,805.00

Accumulated Depreciation 154,098.60 · 1,426.20 155,524.80

Computer Software1,742,404.25 · 1,742,404.25

Accounts Payable· MeR 930,234,417.56 20,654,035.18 25,932,174.54 935,512,556.92

Accounts Payable-Others - · 42,064,654.96 42,064,654.96

Accounts Payable' Supplier 2,620,227.24 4,534,020.00 7,674,906.15 5,761,113.39

Due to OffIcers& Employees 37,425.76 · · 37,425.76

Performance Warranty Payable 1,335,057.24 · · 1,335,057.24

Performance/Bidders Bond Payable 199,059.60 67,000.00 · 132,059.60

Due to BIR 2,469,199.26 3,380,657.53 3,570,426.31 2,658,968.04

Due to SSS 192,211.40 188,547.70 183,142.92 186,806.62

Due to Pag-Iblg 163,515.02 143,885.02 136,439.19 156,069.19

Due to Phllhealth 87,475.00 77,175.00 75,162.50 85,462.50

Due to NHMFC 18,867,977.98 · · 18,867,977.98

Due to AKPF 200.00 · · 200.00

Due to Provident Fund 1,354,030.23 1,341,537.75 1,219,808.06 1,232,300.54

Accrued Expenses Payable 203,627.86 5,204,450.56 11,451,607.90 6,450,785.20

Gross Receipt Tax Payable 491,621.87 491,621.87 584,671.91 584,671.91

Undistributed Collections 375,752,616.68 55,730,035.86 64,113,425.82 384,136,006.64

Advances from Borrowers 72,380,946.38 184,199,636.39 188,092,643.28 76,273,953.27

Advances from HUDCC 2,500,000.00 · · 2,500,000.00

Guaranty Deposits Payable 83,777,276.50 2,322,546.70 1,327,309.00 82,782,038.80

Insurance Payable 13,005,675.69 481,149.26 259,883.80 12,784,410.23

Deferred Credits 19,127,258.51 - 221,255.26 19,348,513.77

Origination Fee Payable 18,037,538.65 303,201.28 1,013,022.86 18,747,360.23

Tax Refund Payable 407,277.33 - 1,117,284.18 1,524,561.51

Other Payables 409,947.55 15,232.03 130,496.48 525,212.00

Dividends Payable 49,615,721.78 - 49,615,721.78 .Other Liabilities 333,555.25 - - 333,555.25

Other LongTerm Liabilities 125,592,312.92 894,330.82 - 124,697,982.10

Trust Liabilities- NHMFC 10,343,069,113.71 - 250,000,000.00 10,593,069,113.71

Trust Liabilities- AKPF 547,013,203.68 1,978,857.92 594,798.32 545,629,144.08

Page 2 015

SOCIAL HOUSING FINANCE CORPORATION(A wholly-ownedsubsidiaryof NationalHomeMortgageAnanceCorporation)


ACCOUNTDESCRIPTION Balances, Beginning December, Transactions Balances, Ending DecemberDebit Credit Debit Credit Debit Credit

Subscribed Capital Stock 25,000,000.00 - - 25,000,000.00Subscription Receivable 15,000,000.00 - - 15,000,000.00Retained Earnings 235,780,623.82 49,878,879.67 - 185,901,744.15Prior Year's Adjustment 30,003,876.95 332,896.65 5,938,559.43 24,398,214.17Interest Income-Loans 194,335,950.12 - 20,027,697.91 214,363,648.03Interest Income-Penalty-Loans 73,490,437.50 - 15,954,531.69 89,444,969.19Interest Income-Notes 3,466,666.66 - - 3,466,666.66Interest Income-Bank Deposits 45,090,860.02 - 4,325,018.57 49,415,878.59other Business and Service Income 7,651,329.22 - 1,731,603.56 9,382,932.78other Income 1,397,923.03 795.78 108,612.54 1,505,739.79Subsidy from National Government 11,300,710.00 - - 11,300,710.00Salaries and Wages - Regular 72,286,329.17 6,937,097.n - 79,223,426.94Cash Gift 970,125.00 - - 970,125.0013th Month Pay 4,584,183.97 4,652,430.78 - 9,236,614.75Year-end Bonus 6,620,800.41 - - 6,620,800.41PERA 4,232,264.46 397,643.67 - 4,629,908.13Representation Allowance 4,015,500.00 - - 4,015,500.00Transportation Allowance 3,791,333.01 166,873.95 - 3,958,206.96Clothing/UniformAllowance 840,000.00 135,000.00 - 975,000.00Productivity Incentive Bonus 220,000.00 967,000.00 - 1,187,000.00Economic Subsidy 7,284,325.00 926,312.00 - 8,210,637.00Children's Allowance 61,635.00 19,170.00 60.00 80,745.00MealAllowance 916,775.43 273,550.00 25.00 1,190,300.43Rice Subsidy 3,819,600.00 361,800.00 - 4,181,400.00Hospital and MedicalBenefits 5,419,876.29 - - 5,419,876.29Honoraria 39,113.34 - - 39,113.34Overtime Pay 2,614,091.31 411,325.78 - 3m5,417.09SSS Contributions 2,039,122.00 431,667.30 - 2,470,789.30Pag-iblg Contributions 193,200.00 41,000.00 - 234,200.00Philhealth Contributions 704,875.00 148,537.50 - 853,412.50ECContributions 57,450.00 12,100.00 - 69,550.00Provident Fund Contributions 9,401,716.90 1,950,209.80 - 11,351,926.70Sick/Vacatlon Leave Benefit 2,998,305.99 2,230,384.72 - 5,228,690.71Birthday Gift Benefit 525,000.00 27,000.00 - 552,000.00Retirement Benefits 292,280.58 - - 292,280.58Traveling Expenses 3,724,839.18 529,006.58 8,300.00 4,245,545.76Training and Seminar Expenses 536,670.00 45,100.00 - 581,770.00Capacity Building 1,318,497.14 114,771.30 - 1,433,268.44Office Supplies Expenses 1,958,547.46 172,325.29 - 2,130,872.75Accountable Forms Expenses 320,320.00 - - 320,320.00Gasoline, all and Lubricants 1,568,423.45 328,759.43 - 1,897,182.88IT Supplies &Materials 1,478,263.17 49,310.92 - 1,527,574.09Drugs and Medicine Expenses 40,675.50 - - 40,675.50

Page3015



ACCOUNTDESCRIPTION Balances, Beginning December, Transactions Balances, Ending December

Debit Credit Debit Credit Debit CreditOther Supplies Expenses 512,496.39 73,663.10 - 586,159.49Postage and Deliveries 520,347.04 130,962.00 - i51,309.04Telephone Expenses-Landline 1,095,447.60 221,007.74 - 1,316,455.34Telephone Expenses-Mobile 523,322.64 138,203.15 - 661,525.79Internet Expenses 433,459.58 54,729.00 - 488,188.58Water Expenses 518,901.28 95,229.16 - 614,130.44ElectriCity Expenses 5,613,568.71 1,317,377.73 6,483.25 6,924,463.19Association Dues 2,864,765.75 260,433.25 - 3,125,199.00Membership Dues & Contribution to Organizations 3,950.00 . - 3,950.00Advertising Expenses 1,065,439.20 28,986.00 - 1,094,425.20Printing and Binding Expenses 726,271.20 136,134.50 . 862,405.70Rent Expenses 3,423,464.66 50,285.00 - 3,473,749.66BusinessDevelopment Expense 7,828,096.00 2,032,736.74 - 9,860,832.74Transportation and Delivery 17,882.89 . . 17,882.89Subscription Expenses 98,875.00 18,181.00 - 117,056.00Legal Services 98,000.00 84,000.00 - 182,000.00CouncD/Board Member's Allowance 1,197,237.58 158,000.00 - 1,355,237.58Special Counsel Allowance 29,750.00 2,500.00 - 32,250.00Clerical Services 10,812,873.89 8,297,917.33 - 19,110,791.22OtIher Professional Expenses 2,984,222.40 683,547.71 670.00 3,667,100.11Janitorial Services 834,815.67 519,102.27 1,369.17 1,352,548.77Security Expenses 3,961,664.36 1,234,736.74 8,002.17 5,188,398.93Other General Services 2,386,571.35 1,352,759.51 - 3,739,330.86Repairs and Maintenance 1,280,991.26 197,484.58 - 1,478,475.84Donations 2,262,654.97 - - 2,262,654.97Discretionary Expenses 796,337.54 1,638,174.31 - 2,434,511.85extraordinary Expenses 25,780.00 - - 25,780.00Miscellaneous Expenses 306,957.90 104,765.91 - 411,723.81Taxes, Duties & Licenses 1,026,349.49 1,950.00 - 1,028,299.49Percentage Tax 5,658,238.09 584,671.91 - 6,242,910.00Final Tax paid on Income 9,018,172.03 865,003.70 - 9,883,175.73Real Estate Tax 1,235,041.47 - - 1,235,041.47Fideilty Bond Premiums 583,750.00 50,000.00 - 633,750.00Insurance Expenses 592,760.66 2,333.33 - 595,093.99Collection Servicing Fee 2,897,177.65 259,205.95 - 3,156,383.60Team Building 622,769.43 - - 622,769.43Cultural and Athletic Activities 482,910.85 173,107.94 - 656,018.79Christmas Celebration Expenses - 235,007.31 - 235,007.31Gift Check (Grocery Subsidy) 13,327,750.00 - - 13,327,750.00CNAIncentive 47,907.37 53,845.98 - 101,753.35Calamity Assistance (Contingent Fund) - 130,000.00 - 130,000.00Depreciation - Office Building 5,693,075.63 517,552.33 - 6,210,627.96Depreciation - Other Structures 523,636.52 47,603.32 - 571,239.84

Page 4 cl5



ACCOUNTDESCRIPTIONBalances, Beginning December, Transactions Balances, Ending December

Debit Credit Debit Credit Debit Credit

Depreciation - OfficeEquipment 311,435.56 26,423.83 - 337,859.39

Depreciation - Furniture & Rxtures 741,230.30 61,832.37 - 803,062.67

Depreciation - IT Equipment & Software 2,396,765.74 166,955.43 - 2,563,721.17

Depreciation - Transportation Equipment 1,922,197.46 131,206.26 - 2,053,403.72

DepreCiation - Communication Equipment 39,816.87 1,090.89 - 40,907.76

Depreciation - Leasehold Improvements 1,185,815.29 115,001.39 - 1,300,816.68

Depreciation - Ubrary Books 16,831.40 1,511.11 - 18,342.51

Depreciation - Other Assets (Others) 26,335.24 1,426.20 - 27,761.44

Loan Loss 4,289,277.85 95,902.28 - 4,385,180.13

Amortization-Origination and Appraisal Cost 1,557,344.69 141,576.79 - 1,698,921.48

Amortization-IT Ucenses 118,796.68 21,736.67 - 140,533.35

Other Rnancial Charges 1,859,498.05 299,293.72 - 2,158,791.77

Bank Charges 53,926.00 27,825.00 - 81,751.00

Interest Expenses 7,803,350.88 639,821.25 19,443.73 8,423,728.40

Origination and Appraisal Cost 18,292,753.67 2,147,810.02 - 20,440,563.69

Income Tax 6446112.58 - - 6446112.58

TOTAL 13 302 171 559.35 13 302 171 559.35 1 976 082 032.88 1 976 082 032.88 13 610 776002.40 13610776002.40

Finance & Controllership Department

Page 5 of 5

4~~ - social housing finance corporation audited financial statement13.pdf · 2,218,355.10...

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