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MMSU FACULTY ASSOCIATION, INC. Income Statement For the Year Ended, December 31, 2008

MMSU FACULTY ASSOCIATION, INC. Income Statement For the Year Ended, December 31, 2008. Gross Income Interest Income-Loans P 29,750.00 Service fee – loans 3,050.00 Interest Income-Savings 1,846.34 Agency fee 10,657.50

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MMSU FACULTY ASSOCIATION, INC. Income Statement For the Year Ended, December 31, 2008

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  1. MMSU FACULTY ASSOCIATION, INC. Income Statement For the Year Ended, December 31, 2008 Gross Income Interest Income-Loans P 29,750.00 Service fee – loans 3,050.00 Interest Income-Savings 1,846.34 Agency fee 10,657.50 Membership fees 1,200.00 Sinking fund 2,400.00 Annual dues 22,420.00 Monthly dues 76,820.00 P 148,143.84

  2. MMSU FACULTY ASSOCIATION, INC. Income Statement For the Year Ended, December 31, 2008 Less: Expenses Telephone/Communication expenses 7,863.09 Office supplies 19,933.50 Representation expenses 16,766.60 Transportation 1,651.00 Depreciation expense 9,146.00 Miscellaneous 12,980.00 Total Operating expenses 68,340.19 Net Income P 79,118.85

  3. MMSU FACULTY ASSOCIATION, INC. Supporting on Interest Income Loans 2 0 0 8 Interest Service fee 58 availed of P10, 000.00 loan 29,000 2,900 3 availed of P5000.00 loan 750 150 29,750 3,050 2007 Interest Service fee 30 availed of P10, 000.00 loan 15,000 1,500 2 availed of P5000.00 loan 500 100 15,500 1,600 Net Increase 14,250 1,450 91% 91%

  4. MMSU FACULTY ASSOCIATION, INC. Schedule of Loan Releases From January to December 31, 2008 Amount Interest Income Service fee 1. Estrella Albano 10,000 500 50 2. Suerte Dy 10,000 500 50 3 . Tessie Flojo 10,000 500 50 4. Nelia Sarian 10,000 500 50 5 . Rosalinda Anayasan 10,000 500 50 6 . Marlene Cabagan 10,000 500 50 7. Jaime Salazar 10,000 500 50 8. Mergelina Salazar 10,000 500 50 9. Marilou Lucas 10,000 500 50 10. Leah Ballesteros 10,000 500 50 11 . Angelina A. Tagay 10,000 500 50 12. Dianne Nolasco 10,000 500 50 13. Facundo, Asia 10,000 500 50 14. Eduardo, Bocoboc 10,000 500 50 15. Nona Adaza 10,000 500 50

  5. MMSU FACULTY ASSOCIATION, INC. Schedule of Loan Releases From January to December 31, 2008 Amount Interest Income Service fee 16. Robert Martin 10,000 500 50 17. Orlino Mandac 10,000 500 50 18. Genevieve Magano 10,000 500 50 19. Ruby Celia Cagaoan 10,000 500 50 20. Conchita Locsin 10,000 500 50 21. Tita Pablo 10,000 500 50 22. Sosima Demandante 10,000 500 50 23. Gracia Urmeneta 10,000 500 50 24. Robert Barangan 10,000 500 50 25. Ignacio, Macugay 10,000 500 50 26. Reylito Gonzales 10,000 500 50 27. Dionisio Pondoc 10,000 500 50 28. Ninfa de Guzman 10,000 500 50 29. Rizal Javier 10,000 500 50 30. Ma Victoria Domingo 10,000 500 50

  6. MMSU FACULTY ASSOCIATION, INC. Schedule of Loan Releases From January to December 31, 2008 Amount Interest Income Service fee 31. Myrna Antonio 10,000 500 50 32. Lei Vicsia Domingoc 10,000 500 50 33. Lailani Galutira 10,000 500 50 34. Gayfelyn Labayan 10,000 500 50 35. Teresita Ann Tinio 10,000 500 50 36. Marcial Gabriel 5,000 250 50 37. Myrna Sacro 5,000 250 50 38. Salustiano Morales 10,000 500 50 39. Rigor Gabur 10,000 500 50 40. Romelyn Alboladora 10,000 500 50 41. Basilio Jesus Ranchez 10,000 500 50 42. Vicente Trinidad 10,000 500 50 43. Jan Dexter Pugrad 10,000 500 50 44. Denzdy Santos 10,000 500 50 45. Romeo Abucay 10,000 500 50

  7. MMSU FACULTY ASSOCIATION, INC. Schedule of Loan Releases From January to December 31, 2008 Amount Interest Income Service fee 46. Bengie Antonio 10,000 500 50 47. Analyn Manglal-lan 10,000 500 50 48. Luzviminda Mendiola 10,000 500 50 49. Efren Felipe 10,000 500 50 50. Minerva Pajas 10,000 500 50 51. Hanelli Magbual 10,000 250 50 52. Angelita Agulay 10,000 250 50 53. Leonila Albano 10,000 500 50 54. Amancia Vallente 10,000 500 50 55. Marvin Lutrania 10,000 500 50 56. Arlene Rualizo 5,000 200 50 57. Antonietta Taclan 10,000 500 50 58. Elvina Santos 10,000 500 50 59. Sharon Palomares 10,000 500 50 60. Joy Rosario Rosette Carino 10,000 500 50 61. Calaro Diego 10,000 500 50 __________ ______ _____ 595,000 29,750 3,050 ========= ====== =====

  8. MMSU FACULTY ASSOCIATION, INC.Sinking Fund and Membership Fee Membership Fee (24 x P50.00) P1,200.00 Sinking Fund (24 x 100.00) 2,400.00 • Roselle Mamuad 13. Jayferson Panillo • Edwin Galutira 14. Alona Siera • Elimodes Castro 15. Cherry Joy Discaya • Philistia Bagayas 16. Richard Agbayani • Julius Pumaras 17. Christine Alcoy • Eroll Valdez 18. Jefrey De Vera • Rosalie Bacister 19. Mediah Perle Layaoen • Lee Zhemyr Calasag 20. Andrew Dono • Gabriel Galdores 21. Odette Alegato • Ariston Lorenzo 22. Cliffton Reboroso • Richard Lee Martin 23. Mae Ann Batuyong • Clarence Ordonia 24. Ma. Danica Ines

  9. MMSU FACULTY ASSOCIATION, INC.Depreciation Expense Depreciation Expense (Laptop) Cost P45,730 Less: Acc. Depreciation 2007 9,146 2008 9,146 18,292 Net Book Value P27,438 =======

  10. MMSU FACULTY ASSOCIATION, INC.Schedule of Miscellaneous Expense Plaques P8,400.00 Wreath 2,950.00 Bank charge 1,000.00 Checkbooklet 330.00 Cups & Trays (for the office) 300.00 Total P12,680.00

  11. MMSU FACULTY ASSOCIATION, INC. Statement of Bank Reconciliation December 31, 2008 Cash in Bank, balance, December 31, 2008 P 50,473.19 Add: Deposit in Transit Collection from MMSU –December 135, 533.70 Undeposited collections 1,360.00136,893.70 Total 187,366.89 Less: Outstanding checks # 74746 (Retirement pay) 5,183.14 # 74776 (Separation pay) 857.21 # 74778 (Separation pay) 4,102.5050,142.85 Cash balance, December, 31, 2008 P137,224.04

  12. MMSU FACULTY ASSOCIAITON, INC. List of Assets December 31, 2008 Cash In Bank and on Hand 137,224.04 Petty Cash Fund 4,719.20 Loans Receivables 350,790.95 Receivables – T-shirt 14,080.00 Insurance Premiums (2007) 5,565.00 Agency fee 10,657.50 Fixed Assets Laptop 45,730.00 Less: Acc. Depreciation 18,292.00 27,438.00 Total Assets P 550,474.69

  13. MMSU FACULTY ASSOCIAITON, INC. List of Payables December 31, 2008 Payable to Members (Over collection of Loan Amortization 12,591.00 Payable to Retiree (Catherine Abadilla) 49,802.50 Total Liabilities 62,393.50

  14. MMSU FACULTY ASSOCIATION, INC. Statement of CashflowsFor the Year Ended, December 31, 2008 Cash Receipts Retirement benefit P 902,674.00 Separation benefit 80,456.71 GSIS Insurance Premiums 90,375.50 Loan Amortization 533,875.53 Membership fee 1,200.00 Sinking fund 2,400.00 T-shirt 54,400.00 Annual dues 22,420.00 Monthly dues 76,820.00 Interest Income, savings 1,846.34 Death aid 200.00 Unidentified (overcollection) 5,619.50 Total P1,772,287.58

  15. MMSU FACULTY ASSOCIATION, INC. Statement of Cash Receipts and Disbursements For the Year Ended, December 31, 2007 Less: Disbursements Retirement pay P1,058,351.67 Separation pay 44,279.11 T shirts 65,250.00 Soft loans 541,029.30 GSIS Insurance Premiums 93,114.00 Telephone/Communications 10,457.28 Supplies 16,933.50 Transportation 1,651.00 Representation 16,766.60 Miscellaneous 13,334.80 1,861,167.26 Net Cash Receipts (Disbursement) (90,726.02) Add: Add: Cash Balance, beginning 227,950.06 Cash Balance, ending P137,224.04

  16. MMSU FACULTY ASSOCIATION, INC. GSIS Premiums Collectible from Members As of December 31, 2008 1. Aguda, Rosella P 210.00 2. Aguilar, Filamer 210.00 3. Andres, Johny Ericta 525.00 4. Calaro, Diego 525.00 5. Domingo, Mee Jay 210.00 6. Gabriel Marcial 210.00 7. Huenda, Ferdinand 210.00 8. Labayan, Gayfelyn 210.00 9. Mauricio, Robert 525.00 10. Miguel, Ericson 787.50 11. Pacis, Cesario 787.50 12. Pedro, Ma. Lourdes 210.00 13. Salvador, Melba 525.00 14. Santiago, Elvina 210.00 15. Yumul, Sachi 210.00 Total P 5,565.00

  17. MMSU FACULTY ASSOCIATION, INC. Loan Borrower’s Ledger(Sample Only) Name of Borrower Manglal-lan, Analyn College CBEA_____________ Date of Loan October 6, 2008___ Amount of Loan Php. 10, 000__________ Amortization Applicable Month Amount MonthAmount Balance 1. Nov. ‘08 833.00 Nov. ’08 833.00 9,167 2. Dec. ’08833.00 Dec. ’08 833.00 8,334 3. _833.00 Jan. ’09 833.00 4. _______ 833.00 ________ ________ 5. _______ 833.00 ________ 6. _______ 833.00 ________ 7._______ 833.00 ________ 8. _______ 833.00 ________ 9. _______ 833.00 ________ 10. _______ 833.00 ________ 11._______ 833.00 ________ 12. _______ 837.00 ________ TOTAL 10,000.00__

  18. MMSU FACULTY ASIOCIATION, INC. List of Deductions for Retirement and Separation Benefits For the Year Ended, December 31, 2008 February Retirement Separation 1. Juliet Abalos P110.00 1. Larry Vea 10.00 April 2. Fe Leila E. Guerrero 110.00 3. Jean Galat 110.00 4. Rosario Reotita 110.00 June 5. Estrella Albano 110.00 6. Jesusa Javier 110.00 7. Marilou Aurelio 110.00 2. Ben Ezra Apollo 16.00 July 8. Rodrigo Domingo 110.00 9. Teresita F. Marcos 110.00 10.Nenita P. Juan 110.00 11. Emilia Racela 110.00 3. Erwin Sibucao 16.00

  19. MMSU FACULTY ASSOCIATION, INC. List of Deductions for Retirement and Separation Benefits For the Year Ended, December 31, 2008 August Retirement Separation 12. Carmenchita Coloma P110.00 13. Pacifico Ancheta 110.00 14. Perla Ulit 110.00 4. Cheville Guinto 5.00 Sept 15. Cristeta Pedro 110.00 16. Ligaya Diculen 110.00 5. Carl Julius Ungson 6.50 Oct 6. R. Madariaga 9.00 7. Edward Pinpin 6.00 Nov. 17. Feliza Quilala 110.00 18. Generosa Aspili 110.00 19. Maxima Ines 110.00

  20. MMSU FACULTY ASIOCIATION, INC. List of Deductions for Retirement and Separation Benefits For the Year Ended, December 31, 2008 November Retirement Separation 8. Marilou Patricio P 9.00 9. Merafe Biralde 18.00 10. Maricris de Leon 7.00 11. Tajonera 7.00 12. Anabelle Piedad 18.00 December 20. Catherine Abadilla 110.00 ------------- ------------ Total 2,200 127.50 ======= ========

  21. MMSU FACULTY ASSOCIATION, INC. Schedule of Fees (Sample) For Year , 2008 Name: ASIA, NINFA S. Date of Membership: 2001 College: CBEA AMOUNT COLLECTIBLE Total Ret Sep GSIS Annual Monthly Tshirt Dues Dues Jan 120 120 Feb 910 110 10.00 630 160 Mar - Apr 330 330 May - Jun 346 330 16.00 Jul 456 440 16.00 Aug 335 330 5.00 Sept 226.5 220 6.50 Oct 15 15.00 Nov 389 330 59.00 Dec 110 110 50 50 120 160 2,200 127.50 630 50 120 160 ======= ========

  22. MMSU FACULTY ASSOCIATION, INC. Schedule of Fees (Sample) For Year , 2008 AMOUNT COLLECTED Total Ret Sep GSIS Annual Monthly Tshirt Dues Dues Jan 120 120 Feb 910 110 10.00 630 160 160 Mar - Apr 330 330 May - Jun 346 330 16.00 Jul - Aug 791 440 16.00 330 5.00 Sept 226.5 220 6.50 Oct 15 15.00 Nov 389 330 59.00 50 50 Dec 110 110 2,200 127.50 630 50 120 160 Bal. - - - - - -

  23. THANK YOU

  24. MMSU FACULTY ASSOCIATION, INC.Treasurer’s ReportCalendar Year 2008

  25. Prepared by:ANGELINA A. TAGAY, Ph.D., CPA TreasurerReviewed by: ENGR. ROGELIO U. BINALA AuditorCertified correct:PROF. ANDRES Y. TUNGPALANPresident

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