Republic of the Philippines

COMMISSION ON AUDIT
Commonwealth Avenue, Quezon City

REPORT ON FINANCIAL PERFORMANCE

GOVERNMENT- OWNED AND/OR CONTROLLED CORPORATIONS (GOCCs)
FISCAL YEAR 2006
(in thousand pesos)

BALANCE SHEET 1
Total Total Deferred 2 Total Total Total Deferred Total
GOCCs GOCCs
Assets Liabilities Credits Equity Assets Liabilities Credits Equity

Financial A 2,186,293,895.95 2,250,645,389.12 5,174,603.67 (69,526,096.84) Financial B 1,162,997,938.93 239,564,953.79 16,157,914.45 907,275,070.68
Al-Amanah Islamic Investment Bank of the Philippines 181,378.95 682,961.00 8,555.67 (510,137.72) Employees' Compensation Commission 197,556.46 9,146.39 - 188,410.07
Bangko Sentral ng Pilipinas 1,571,362,973.00 1,304,600,645.00 266,762,328.00 Government Service Insurance System 409,673,496.34 11,755,681.09 1,530,025.11 396,387,790.14
Central Bank - Board of Liquidators 4,231,126.00 416,126,224.00 (411,895,098.00)3 GSIS Family Bank 13,057,978.09 12,362,484.99 41,555.04 653,938.06
Development Bank of the Philippines 235,308,335.00 202,970,214.00 1,747,437.00 30,590,684.00 GSIS Mutual Fund, Inc. 1,922,760.35 39,621.10 - 1,883,139.25
Industrial Guarantee Loan Fund 6,278,042.01 1,112,355.61 5,165,686.39 Meat Packing Corp. of the Philippines 836,355.39 63,182.51 - 773,172.88
Land Bank of the Philippines 365,372,563.00 323,009,408.00 3,418,611.00 38,944,544.00 Home Development Mutual Fund 191,548,601.91 22,970,062.81 12,406,138.86 156,172,400.24
Land Bank Countryside Development Foundation, Inc. 81,971.13 348.44 81,622.69 Home Guaranty Corporation 36,157,952.81 26,610,073.93 1,205,354.57 8,342,524.30
People's Credit Finance Corporation 3,477,506.87 2,143,233.07 1,334,273.79 National Development Company 9,708,383.02 7,748,824.97 - 1,959,558.04
Alabang - Sto Tomas Development, Inc. 26,161.60 687.21 - 25,474.38
Industrial and Area Development Batangas Land Company, Inc. 49,125.63 4,627.97 1,019.09 43,478.57
and Regulatory 321,093,191.32 80,914,740.56 8,278,931.05 231,899,519.71 First Cavite Industrial Estate, Inc. 11,181.46 1,816.88 - 9,364.58
Bases Conversion Development Authority 84,125,792.76 10,709,817.80 3,628,177.01 69,787,797.95 GY Real Estate, Inc. 9,445.22 31.48 - 9,413.74
Bataan Technology Park, Inc. 325,554.01 392,380.31 1,707.10 (68,533.39) Kamayan Realty Corporation 7,238.64 1,974.18 - 5,264.46
BCDA Management Holdings, Inc. 430,671.49 107,986.22 14,186.53 308,498.75 Luzon Integrated Services Inc. 4,881.97 14,120.14 - (9,238.18)
Clark Development Corporation 4,557,638.92 1,562,846.78 13,005.26 2,981,786.88 Manila Gas Corporation 578,568.72 2,904.87 - 575,663.85
John Hay Management Corporation 134,247.38 38,416.43 8,146.09 87,684.86 National Precision Cutting Tools, Inc. 24,397.72 121,408.70 - (97,010.97)
North Luzon Railway Corporation 8,742,054.86 8,913,080.13 4,626.45 (175,651.72) National Slipways Corporation 2,813.56 2,410.35 - 403.21
Philippine Centennial Expo '98 Corporation 289,058.90 32,320.20 256,738.70 National Stevedoring and Lighterage Corporation 12,371.86 25,128.90 - (12,757.04)
Poro Point Management Corporation 147,729.91 103,154.90 44,575.01 National Trucking and Forwarding Corporation 2,583.55 37,228.01 - (34,644.47)
Cagayan Economic Zone Authority 652,340.80 28,027.96 624,312.84 NDC Maritime Equity Corporation 530,669.75 361,898.11 100,905.83 67,865.81
Cebu Ports Authority 4,926,035.09 354,955.66 4,571,079.43 NDC Public Infrastructure Corporation 67,805.74 837.72 - 66,968.03
Garments and Textiles Export Board 6,395.66 481.63 5,914.04 Pinagkaisa Realty Corporation 2,745.49 45.03 - 2,700.46
Laguna Lake Development Authority 333,411.13 90,636.18 242,774.95 Tacoma Bay Shipping Company, Inc. 8,072.26 105.00 - 7,967.26
Mactan Cebu International Airport Authority 2,736,300.21 224,181.08 27,824.64 2,484,294.49 National Home Mortgage Finance Corporation 44,904,311.43 47,762,164.81 321,686.04 (3,179,539.42)
Manila International Airport Authority 23,081,539.24 8,977,096.53 96,403.20 14,008,039.50 Social Housing Finance Corporation 6,842,339.61 6,781,668.14 - 60,671.47
Marawi Resort Hotel, Incorporated 27,782.30 3,248.11 24,534.19 Philippine Crop Insurance Corporation 1,546,989.42 458,816.16 22,393.69 1,065,779.58
National Housing Authority 25,888,910.23 5,593,842.16 2,380,157.47 17,914,910.61 Philippine Deposit Insurance Corporation 137,887,504.42 88,458,145.11 124,571.06 49,304,788.25
Partido Development Administration 678,564.47 1,014,028.90 (335,464.43) Philippine Health Insurance Corporation 68,903,002.77 4,524,880.25 6,754.90 64,371,367.62
 Total Total Deferred Total Total Total Deferred Total
GOCCs GOCCs
Assets Liabilities Credits Equity Assets Liabilities Credits Equity

Philippine Aerospace Development Corporation 194,443.56 64,603.52 129,840.04 PHIVIDEC Industrial Authority 4,893,249.48 4,340,588.23 368,613.17 184,048.09
Philippine Economic Zone Authority 5,061,806.72 2,352,088.40 30,054.49 2,679,663.83 Small Business Guarantee and Finance Corporation 3,763,994.39 1,608,584.96 - 2,155,409.43
Philippine Ports Authority 81,121,590.71 9,231,713.74 71,889,876.97 Social Security System 228,444,457.19 3,428,978.62 19,611.84 224,995,866.73
Philippine National Construction Corporation 7,499,746.00 7,063,462.00 436,284.00 Trade and Investment Devt. Corporation 1,370,942.69 66,825.17 9,285.26 1,294,832.26
PNCC Traffic Control Products Corporation 26,000.10 50,380.46 (24,380.35)
PNCC Skyway Corporation 619,328.10 545,673.17 73,654.93 Public Utilities Cluster 1,449,654,810.91 1,260,374,592.70 14,558,932.46 174,721,285.74
Philippine Reclamation Authority 34,278,667.99 10,128,512.29 693,942.55 23,456,213.15 Local Water Utilities Administration 16,983,499.93 12,335,896.52 232,051.12 4,415,552.29
PEA Tollway Corporation 140,048.61 137,410.32 2,638.29 Metropolitan Waterworks & Sewerage System 65,010,933.79 24,416,393.96 2,343,432.46 38,251,107.36
Subic Bay Metropolitan Authority 29,107,058.19 8,148,734.18 1,379,490.97 19,578,833.04 National Electrification Administration 18,824,426.27 18,857,987.23 116,310.66 (149,871.63)
Freeport Services Corporation 157,638.36 83,771.16 199.49 73,667.71 National Power Corporation 1,117,552,065.65 1,056,550,923.87 5,353,419.38 55,647,722.39
Sugar Regulatory Administration 691,467.65 176,257.26 970.31 514,240.08 Philippine National Oil Company 46,069,977.34 16,072,886.94 2,375,095.49 27,621,994.91
Philippine Sugar Corporation 4,596,592.35 4,777,779.16 (181,186.81) PNOC Alternative Fuels Corporation 3,338,458.77 18,100.89 532,868.02 2,787,489.86
Zamboanga City Special Economic Zone Authority 514,775.64 7,853.96 39.49 506,882.19 PNOC Coal Corporation 337,149.59 260,169.65 76,979.94
PNOC Devt. & Management Corporation 775,115.76 8,802.45 189,082.80 577,230.51
Agricultural, Trading and PNOC Energy Devt. Corporation 75,140,580.15 47,287,955.06 6,846.94 27,845,778.15
Promotional 111,414,096.15 111,225,450.31 12,154,332.05 (11,965,686.21) PNOC Exploration Corporation 13,204,920.78 4,708,602.98 3,216,730.42 5,279,587.38
Center for International Trade Expositions and Missions 510,485.82 54,188.20 7,788.42 448,509.20 PNOC Malampaya Production Corporation 646.42 1,509.63 (863.20)
Cottage Industry Technology Center 71,313.90 12,491.27 58,822.62 PNOC Shipping & Transport Corporation 732,846.09 370,688.11 6,198.97 355,959.01
Food Terminal, Inc. 4,032,114.03 1,616,207.94 113,646.23 2,302,259.85 Philippine Postal Corporation 7,101,582.67 4,881,078.49 56,843.24 2,163,660.94
Human Settlements Development Corporation 957,368.87 156,834.53 2,094.11 798,440.23 Philippine Postal Savings Bank, Inc. 3,964,625.48 3,517,226.58 34,761.40 412,637.50
National Agri-Business Corporation 222,058.11 1,589,641.98 (1,367,583.87) Power Sector Assets and Liabilities Management Corporation 60,738,868.70 60,652,465.67 86,403.04
Philippine Agricultural Development and Commercial Corporation 21,095.97 16,436.97 20.36 4,638.63 Water Districts 19,879,113.52 10,433,904.69 95,291.55 9,349,917.28
Philippine Genetics, Inc. 154,526.73 1,052,199.32 (897,672.59)
ZNAC Rubber Estate Corporation 12,623.97 9,347.37 3,276.59 Social, Cutural and Scientific Cluster 43,054,883.28 11,794,497.74 234,286.82 31,026,098.72
Livelihood Corporation 558,314.25 420,062.40 138,251.85 Cultural Center of the Philippines 1,436,792.55 115,006.23 3,844.11 1,317,942.22
Northern Foods Corporation 196,116.90 865,162.73 (669,045.83) Development Academy of the Philippines 448,634.01 268,800.01 35,307.05 144,526.95
National Dairy Authority 649,689.60 470,639.02 106,715.86 72,334.73 Lung Center of the Philippines 4,422,356.21 134,284.51 54.02 4,288,017.69
National Food Authority 27,943,976.24 70,638,813.08 (42,694,836.85) National Kidney and Transplant Institute 1,541,039.61 414,976.18 1,284.77 1,124,778.66
National Irrigation Administration 46,626,630.23 14,977,257.74 11,522,362.25 20,127,010.24 Nayong Pilipino Foundation, Inc. 7,675,138.01 40,498.77 30.34 7,634,608.91
NIA Consult, Inc. 30,747.21 10,877.83 3,833.70 16,035.68 Occupational Safety and Health Center 188,004.57 12,410.74 30.80 175,563.03
National Tobacco Administration 681,897.07 284,880.40 826.94 396,189.73 Overseas Workers Welfare Administration 9,945,124.20 155,926.34 4,283.25 9,784,914.61
Natural Resources Development Corporation 437,151.15 248,685.33 28,220.79 160,245.02 People's Television Network, Inc. 1,214,855.35 444,420.70 48,362.98 722,071.67
Bukidnon Forests, Inc. 234,439.66 5,268.99 229,170.67 Philippine Amusement and Gaming Corporation 7,474,968.46 4,225,081.00 8,906.61 3,240,980.85
Philippine Coconut Authority 1,720,542.70 263,453.66 54,999.50 1,402,089.54 Philippine Center for Economic Development 94,485.03 130.50 - 94,354.53
Philippine Commission on the Promotion and Development of Philippine Charity Sweepstakes Office 3,934,471.71 3,256,344.58 88,548.25 589,578.88
Sports SCUBA Diving 1,019.34 84.28 935.06 Philippine Children's Medical Center 586,648.29 146,827.01 6,125.68 433,695.60
Philippine Convention and Visitors Corporation 67,108.36 39,369.18 34.00 27,705.18 Philippine Heart Center 1,100,003.02 542,044.04 741.92 557,217.06
Philippine Fisheries Development Authority 718,481.59 689,961.38 10,260.89 18,259.32 Phillipine Institute for Development Studies 386,130.86 8,578.62 13.86 377,538.38
Philippine International Trading Corporation 371,004.06 151,380.64 219,623.42 Philippine Institute of Traditional and Alternative Health Care 194,907.52 2,442.49 55.29 192,409.74
PITC-Pharma, Incorporated 314,026.34 290,464.70 23,561.64 Philippine Retirement Authority 468,589.15 38,403.24 19,357.16 410,828.76
Philippine Rice Research Institute 1,137,717.73 431,356.17 706,361.55 Technology and Livelihood Resource Center 1,942,734.72 1,988,322.79 17,340.74 (62,928.81)
Philippine Tourism Authority 9,936,438.84 4,733,402.58 215,460.08 4,987,576.18
Quedan & Rural Credit Guarantee Corporation 13,807,207.50 12,196,982.61 88,068.91 1,522,155.98
GRAND TOTAL 5,274,508,816.54 3,954,519,624.22 56,559,000.51 1,263,430,191.81
 Republic of the Philippines
COMMISSION ON AUDIT
Commonwealth Avenue, Quezon City

REPORT ON FINANCIAL PERFORMANCE

GOVERNMENT- OWNED AND/OR CONTROLLED CORPORATIONS (GOCCs)
FISCAL YEAR 2006
(in thousand pesos)

STATEMENT OF INCOME AND EXPENSES 4

Provision for
INCOME EXPENSES
Subsidy 5 (Benefit from) NET
from Income Tax/ INCOME
GOCCs
Total Permits Service Business Other Gain/ Total Financial NG/GOCCs/ Final (LOSS)
Income and Income Income Income Premiums Expenses PS MOOE Expenses Affiliates Creditable AFTER
Licenses (Share of NG) W/holding Tax TAX

Financial A 99,608,633.23 - 369,490.47 88,678,563.37 6,461,060.97 4,099,518.42 103,666,709.86 13,543,639.43 71,765,766.91 18,357,303.52 2,500.00 420,536.60 (4,476,113.24)
Al-Amanah Islamic Investment -
Bank of the Philippines 9,513.86 - 4,714.30 3,243.59 1,555.96 62,681.81 22,736.93 39,940.26 4.63 - - (53,167.95)
Bangko Sentral ng Pilipinas 55,791,832.00 - 52,410,337.00 3,381,495.00 - 52,007,244.00 5,310,786.00 37,144,740.00 9,551,718.00 - - 3,784,588.00
6
Central Bank - Board of Liquidators 2,425.00 - 2,425.00 - 15,920,905.00 1,267.00 14,475,493.00 1,444,145.00 2,500.00 G - (15,915,980.00)
Development Bank of the Philippines 18,322,912.00 369,005.00 14,633,637.00 1,225,277.00 2,094,993.00 14,445,724.00 2,977,263.00 5,571,577.00 5,896,884.00 - 139,276.00 3,737,912.00
Industrial Guarantee Loan Fund 322,253.11 485.47 310,844.05 10,861.14 62.45 66,939.34 - 37,159.48 29,779.86 - 72,194.49 183,119.27
Land Bank of the Philippines 24,762,706.00 - 20,940,834.00 1,818,965.00 2,002,907.00 20,907,501.00 5,186,824.00 14,383,593.00 1,337,084.00 - 162,091.00 3,693,114.00
Land Bank Countryside Development - - - - - - - - - - - -
Foundation Inc. 17,013.69 - - 17,013.69 - 11,344.37 1,431.11 9,913.26 - - - 5,669.32
People's Credit Finance Corporation 379,977.57 - 378,197.02 1,780.55 - 244,370.34 43,331.39 103,350.92 97,688.03 - 46,975.11 88,632.12

Financial B 215,069,643.23 445.48 658,587.33 175,115,730.64 29,215,992.57 10,078,887.20 148,293,003.52 10,676,567.93 130,474,039.80 7,142,395.79 1,000,000.00 1,363,398.95 66,413,240.76
Employees' Compensation Commission 44,193.04 36,881.38 2,861.29 4,450.37 45,683.97 20,622.24 25,061.74 (1,490.93)
Government Service Insurance System 86,609,484.13 - 364,499.40 61,240,073.90 7 16,263,646.21 8,741,264.62 45,668,150.73 3,639,574.18 42,028,576.56 - - - 40,941,333.40
GSIS Family Bank 642,210.30 497,429.71 144,766.31 14.28 574,034.93 59,693.61 78,360.67 435,980.66 68,175.37
GSIS Mutual Fund, Inc. 604,799.24 70,097.38 534,701.87 36,002.95 36,002.95 6,488.05 562,308.24
Meat Packing Corp. of the Philippines 603.84 603.84 7,780.17 6,888.73 891.44 (7,176.33)
Home Development Mutual Fund 16,710,158.13 12,223,448.78 4,450,615.11 36,094.24 7,705,099.89 1,474,745.41 4,433,662.25 1,796,692.22 1,274,681.06 7,730,377.19
Home Guaranty Corporation 461,585.56 11,899.84 434,139.16 2,459.08 13,087.49 1,232,240.95 69,526.26 223,108.96 939,605.72 2,820.08 (773,475.47)
National Development Company 939,831.58 113,886.36 742,663.91 83,281.31 589,031.89 7,108.26 219,895.70 362,027.93 20,712.82 330,086.88
Alabang - Sto Tomas Development, Inc. 188.92 188.92 3,633.27 1,460.47 2,172.80 37.78 (3,482.14)
Batangas Land Company, Inc. 25,780.39 25,469.78 310.61 23,975.62 381.66 23,593.27 0.69 495.11 1,309.67
First Cavite Industrial Estate, Inc. 1,090.11 1,090.11 1,069.64 304.37 764.07 1.19 20.47
GY Real Estate, Inc. 347.24 340.74 6.50 244.49 19.31 225.13 0.06 33.69 69.06
Kamayan Realty Corporation 846.39 846.05 0.35 1,934.99 19.31 1,915.68 (1,088.59)
Luzon Integrated Services Inc. 92.12 92.12 211.90 211.68 0.22 (119.78)
Manila Gas Corporation 597,391.68 24,141.79 573,249.89 68,952.52 538.75 67,390.19 1,023.58 6,101.20 522,337.95
Nat'l. Precision Cutting Tools, Inc. 709.67 709.67 785.68 784.24 1.44 (76.00)
Nat'l. Slipways Corporation 108.66 108.66 36.31 21.00 15.00 0.31 72.35
Nat'l. Stevedoring and Lighterage Corporation 719.77 719.77 1,007.23 946.55 58.69 1.99 (287.46)
Nat'l Trucking and Forwarding Corporation 187.40 187.40 553.07 553.07 (365.68)
 Provision for
INCOME EXPENSES
Subsidy 5 (Benefit from) NET
from Income Tax/ INCOME
GOCCs
Total Permits Service Business Other Gain/ Total Financial NG/GOCCs/ Final (LOSS)
Income and Income Income Income Premiums Expenses PS MOOE Expenses Affiliates Creditable AFTER
Licenses (Share of NG) W/holding Tax TAX
NDC Maritime Equity Corporation 18,819.31 1,121.79 1,069.21 16,628.32 44,081.56 9,789.15 5,237.47 29,054.94 (25,262.25)
NDC Public Infrastructure Corporation 4,563.52 1,800.00 2,763.52 12,131.63 9,577.45 2,554.17 (7,568.11)
Pinagkaisa Realty Corporation 707.58 695.52 12.06 576.98 19.31 557.60 0.07 39.42 91.19
Tacoma Bay Shipping Company, Inc. 347.46 347.46 15.43 15.00 0.43 332.02
Nat'l. Home Mortgage Finance Corporation 1,609,580.85 40,293.90 1,558,920.65 10,366.30 1,161,068.85 216,805.61 227,737.03 716,526.21 1,000,000.00 N 1,448,512.00
Social Housing Finance Corporation 136,939.85 84,669.89 31,640.58 20,629.37 74,729.06 38,339.91 35,562.08 827.07 16,460.16 45,750.62
Philippine Crop Insurance Corporation 157,510.73 108,112.61 49,398.12 282,111.56 75,866.09 201,602.42 4,643.05 (124,600.83)
Philippine Deposit Insurance Corporation 12,846,019.15 1,379.69 12,772,582.49 21,584.68 50,472.29 12,371,183.85 9,660,390.39 2,710,793.46 29,618.65 445,216.65
Philippine Health Insurance Corporation 28,223,339.86 22,598,596.45 5,624,304.13 439.28 19,117,004.99 694,506.02 18,421,615.58 883.39 9,106,334.87
PHIVIDEC Industrial Authority 206,288.39 445.48 117,841.43 70,960.48 17,041.00 298,777.88 44,387.45 183,383.93 71,006.50 (92,489.49)
Small Business Guarantee and
Finance Corporation 310,565.46 148,717.06 130,272.85 31,575.55 240,505.12 50,286.54 120,880.93 69,337.66 5,910.94 64,149.40
Social Security System 64,651,499.64 64,651,499.64 8 58,501,879.32 4,152,772.02 54,346,011.75 3,095.55 6,149,620.32
Trade and Investment Devt. Corporation 263,133.28 191,560.84 67,232.34 4,340.10 228,507.09 109,257.00 119,250.08 34,626.19

Public Utilities 296,287,946.92 989.66 4,536,451.45 194,039,548.66 12,992,946.97 84,718,010.17 189,882,130.63 9,710,530.53 153,265,395.06 26,906,205.04 2,950,160.98 1,191,269.52 108,164,707.75
Local Water Utilities Administration 1,950,930.32 149,416.76 1,773,826.97 27,686.59 1,269,166.52 447,390.08 370,537.80 451,238.64 232,526.86 449,236.94
Metropolitan Waterworks & Sewerage System 5,490,527.04 3,240,469.33 182,257.26 2,067,800.45 2,874,418.30 174,975.96 1,910,490.43 788,951.91 2,616,108.74
National Electrification Administration 558,134.70 29,139.96 521,467.03 7,527.72 1,766,233.86 110,860.28 870,820.48 784,553.10 1,585,259.76 N 377,160.60
National Power Corporation 256,907,368.20 175,128,409.57 6,669,582.17 75,109,376.46 166,908,800.07 3,486,272.15 140,845,999.55 22,576,528.37 89,998,568.13
Philippine National Oil Company 9,425,751.25 140,105.29 3,149,611.90 6,136,034.06 385,214.59 51,035.88 291,697.31 42,481.40 (5,321.52) 9,045,858.18
PNOC Alternative Fuels Corporation 120,819.83 42,533.15 78,286.67 117,980.97 22,119.51 95,846.66 14.81 85,844.17 (83,005.31)
PNOC Coal Corporation 24.44 24.44 1,428.47 1,428.47 (1,404.04)
PNOC Devt. & Management Corporation 69,198.79 52,124.00 17,074.78 49,484.12 27,079.90 22,404.22 5,348.83 14,365.84
PNOC Exploration Corporation 6,601,671.68 13,039.13 6,248,050.68 82,798.01 257,783.86 3,159,000.70 31,358.88 2,401,592.35 726,049.47 839,363.32 2,603,307.66
PNOC Malampaya Production Corporation 5.22 5.22 6.28 6.28 (1.06)
PNOC Shipping & Transport Corporation 394,213.73 386,866.67 6,986.44 360.63 329,726.34 76,325.86 218,833.98 34,566.50 64,487.40
Philppine National Railways
Philippine Postal Corporation 3,720,036.49 551.75 3,502,156.29 211,955.00 5,217.71 155.75 3,684,414.58 2,553,067.91 1,092,690.87 38,655.81 1,364,701.22 N/G 1,400,323.13
Philippine Postal Savings Bank, Inc. 407,935.35 374,269.60 30,054.31 3,611.44 364,349.08 101,508.58 139,749.87 123,090.64 18,419.62 25,166.65
Power Sector Assets and Liabilities
Management Corporation 2,208,082.90 760,680.05 342,201.49 1,105,201.35 1,522,669.40 113,908.72 907,295.62 501,465.07 685,413.50
Water Districts 8,433,246.99 437.91 82,019.27 8,214,765.37 133,552.58 2,471.86 7,449,237.36 2,514,626.84 4,096,001.18 838,609.34 200.00 G 15,088.25 969,121.38

Industrial and Area Development and

Regulatory 30,104,482.41 373,923.01 12,615,406.26 14,406,316.77 1,391,609.97 1,317,226.40 24,165,837.33 4,550,596.93 17,741,552.70 1,873,687.70 1,821,485.21 1,280,665.18 6,479,465.11
Bases Conversion Development Authority 1,970,824.51 - - 863,816.00 348,273.74 758,734.78 1,185,141.15 104,948.74 844,857.86 235,334.55 - 17,391.57 768,291.79
Bataan Technology Park, Inc. 1,204.07 18.48 - 1,151.12 34.46 - 66,759.16 7,759.41 58,980.04 19.72 1,742.21 G - (63,812.89)
BCDA Management Holdings, Inc. 64,930.07 - 39,645.31 204.23 21,529.72 3,550.81 58,954.98 50,077.66 8,877.33 - - 222.36 5,752.72
Clark Development Corporation 778,329.26 12,513.84 18,639.42 710,473.72 35,933.80 768.48 614,868.54 312,510.92 301,261.35 1,096.27 - 15,618.81 147,841.91
John Hay Management Corporation 45,735.77 - 41,744.21 2,422.75 1,244.59 324.22 43,655.22 15,787.22 27,868.00 - - 369.01 1,711.53
Philippine Centennial Expo '98 Corporation 47.36 - - - 47.36 - 444.46 432.00 12.46 - - - (397.10)
Poro Point Management Corporation 38,932.16 - - - 38,932.16 - 38,173.78 16,432.68 21,741.10 - - 753.99 4.39
Cagayan Economic Zone Authority 93,092.32 79,042.86 3,595.38 4,162.37 6,291.71 - 61,981.54 13,276.81 48,451.67 253.07 40,000.00 N 9,955.45 61,155.33
Cebu Ports Authority 522,562.44 - - 508,247.84 7,743.84 6,570.76 277,936.40 68,056.36 206,844.78 3,035.27 - 107,524.56 137,101.47
Garments and Textiles Export Board 7,045.61 - - - 7,045.61 - 12,776.13 - 12,774.66 1.47 - - (5,730.52)
Laguna Lake Development Authority 141,543.41 81,166.46 51,659.85 280.95 8,436.15 - 136,984.50 57,894.53 78,997.69 92.29 - - 4,558.91
 Provision for
INCOME EXPENSES
Subsidy 5 (Benefit from) NET
from Income Tax/ INCOME
GOCCs
Total Permits Service Business Other Gain/ Total Financial NG/GOCCs/ Final (LOSS)
Income and Income Income Income Premiums Expenses PS MOOE Expenses Affiliates Creditable AFTER
Licenses (Share of NG) W/holding Tax TAX
Mactan Cebu International Airport Authority 836,253.22 - 575,837.55 244,364.80 15,797.64 253.24 526,175.22 170,434.61 330,374.22 25,366.39 - 99,224.96 210,853.04
Manila International Airport Authority 5,530,727.00 - 2,196,178.00 3,106,039.00 226,663.00 1,847.00 3,982,538.00 718,334.00 2,909,675.00 354,529.00 (623,257.00) S 288,449.00 636,483.00
Marawi Resort Hotel, Incorporated 12,068.59 - - 11,856.41 212.19 - 11,662.84 4,985.56 6,677.28 - - - 405.75
National Housing Authority 934,367.22 195.61 267,118.06 626,134.40 40,919.15 - 1,398,732.13 554,497.58 835,234.97 8,999.57 2,333,000.00 N - 1,868,635.10
Partido Development Administration 44,894.33 - 111.35 32,350.15 60.62 12,372.21 129,007.32 9,311.44 83,617.71 36,078.17 10,000.00 N - (74,112.99)
Philippine Aerospace Dev't. Corporation 29,618.33 - - 29,351.90 266.44 - 36,060.56 18,707.33 17,337.58 15.65 - - (6,442.22)
Philippine Economic Zone Authority 7,721,479.68 78,113.01 6,735,567.78 773,162.95 41,443.50 93,192.44 6,483,231.96 276,609.08 6,135,475.82 71,147.06 - 425,620.30 812,627.42
Philippine Ports Authority 6,211,973.00 - - 6,018,215.51 - 193,757.49 3,241,056.69 955,286.39 2,183,135.70 102,634.60 - 302,676.47 2,668,239.83
Philippine National Construction Corporation 943,442.00 - 938,803.00 - 4,639.00 - 1,908,493.00 - 1,345,691.00 562,802.00 - - (965,051.00)
PNCC Traffic Control Products Corporation 54,499.17 - - 54,487.31 11.86 - 55,418.07 7,693.02 47,382.24 342.82 - - (918.90)
PNCC Skyway Corporation 406,515.09 - 381,147.01 793.00 24,575.08 - 378,584.10 223,811.99 149,714.09 5,058.02 - 3,826.54 24,104.44
Philippine Reclamation Authority 203,030.05 - 37,447.37 158,136.20 7,255.21 191.27 274,557.02 55,620.12 116,532.51 102,404.39 - 3,930.90 (75,457.87)
PEA Tollway Corporation 479,490.03 - 473,628.47 - 5,861.56 - 87,530.27 41,655.03 45,864.14 11.10 - - 391,959.77
Subic Bay Metropolitan Authority 1,926,652.56 - 571,419.67 992,619.44 116,949.73 245,663.72 2,159,688.56 372,611.12 1,528,200.26 258,877.18 - - (233,036.00)
Freeport Services Corporation 527,250.08 - 251,111.54 258,003.81 18,134.72 - 515,845.05 284,338.33 231,506.72 - - 5,101.25 6,303.78
Sugar Regulatory Administration 215,049.44 122,214.24 31,752.29 8,370.65 52,712.26 - 294,007.28 181,823.06 112,139.86 44.36 30,000.00 N - (48,957.84)
Philippine Sugar Corporation 352,870.88 - - - 352,870.88 - 120,290.86 2,034.68 12,711.44 105,544.74 - - 232,580.02
Zamboanga City Special Economic
Zone Authority 10,054.79 658.50 - 1,672.28 7,724.00 - 65,282.55 25,667.30 39,615.26 - 30,000.00 N - (25,227.77)

Agricultural, Trading and Promotional 43,485,090.42 341,033.68 2,627,931.62 36,691,254.98 2,892,166.98 932,703.16 60,305,956.08 4,725,971.63 49,788,755.10 5,791,229.35 6,008,257.61 21,741.67 (10,834,349.72)
Center for International Trade
Expositions and Missions 118,956.10 97,262.80 21,693.30 180,037.23 27,357.42 152,605.30 74.50 93,000.00 N 31,918.87
Cottage Industry Technology Center 7,919.72 5,506.63 209.14 2,203.95 20,000.77 11,334.66 8,666.12 13,000.00 N 918.95
Food Terminal, Inc. 387,660.34 2,518.45 39,933.60 303,400.18 31,336.05 10,472.05 317,019.62 167,777.65 129,989.04 19,252.93 21,318.58 49,322.14
Human Settlements Dev't. Corporation 42,883.50 2,407.86 19,129.19 21,346.46 27,775.97 5,903.18 21,872.51 0.28 15,107.53
National Agri-Business Corporation 86,647.41 7,014.50 79,632.91 83,066.50 5,011.72 4,216.13 73,838.65 3,580.91
Philippine Agricultural Dev't and
Commercial Corporation 183.54 131.96 51.58 229.97 20.00 209.97 (46.43)
Philippine Genetics, Inc. 235.67 235.67 1,806.98 90.00 1,716.98 (1,571.31)
ZNAC Rubber Estate Corporation 18,362.58 18,143.08 205.49 14.00 18,183.22 4,575.04 13,505.13 103.06 136.46 42.89
Livelihood Corporation 20,171.13 2,014.60 16,689.35 1,467.19 116,337.02 9,994.32 106,316.73 25.98 (96,165.89)
Northern Foods Corporation 112,883.86 113,097.51 (213.65) 182,073.79 11,255.13 104,045.37 66,773.29 (69,189.93)
National Dairy Authority 14,617.36 343.78 144.89 14,128.69 81,348.15 43,207.49 36,108.76 2,031.90 87,200.00 N 20,469.20
National Food Authority 28,721,667.43 98,291.72 49,997.94 26,613,652.54 1,145,525.27 814,199.95 44,509,349.72 1,467,946.10 38,352,596.54 4,688,807.07 4,811,011.25 N (10,976,671.04)9
National Irrigation Administration 1,631,498.73 1,066,910.62 239,837.31 324,327.40 423.40 2,426,675.70 1,229,854.68 1,184,031.29 12,789.73 14,115.07 N (781,061.90)
NIA Consult, Inc. 19,561.42 19,140.67 386.29 34.47 18,742.47 4,596.98 14,145.49 286.64 532.32
National Tobacco Administration 34,432.94 28,448.77 1,790.90 1,090.08 3,103.20 209,734.47 157,448.44 52,251.99 34.04 241,555.00 N 66,253.48
Natural Resources Dev't. Corporation 26,794.05 7,572.87 19,221.18 105,314.48 12,984.87 89,276.43 3,053.18 77,886.29 N (634.14)
Bukidnon Forests, Inc. 14,806.90 14,650.16 156.74 24,228.15 5,813.98 18,414.17 (9,421.25)
Philippine Coconut Authority 236,855.08 157,030.52 12,434.71 16,042.14 51,058.19 289.53 451,901.19 283,095.45 166,790.28 2,015.47 226,330.00 N 11,283.89
Philippine Commission on the Promotion and
Dev't. of Sports SCUBA Diving 481.65 467.91 13.74 608.87 25.00 583.64 0.24 (127.22)
Philippine Convention & Visitors Corporation 6,032.46 1,401.61 411.00 360.00 3,859.85 67,361.47 35,811.32 31,384.60 165.54 64,800.00 N 3,470.99
Philippine Fisheries Development Authority 466,137.22 53,342.60 75,163.46 313,407.49 7,219.51 17,004.17 433,524.17 188,683.20 243,697.49 1,143.48 38,860.00 N 71,473.05
Philippine International Trading Corporation 338,730.83 44,918.17 285,150.50 8,662.16 383,402.72 44,506.23 338,423.36 473.13 100,000.00 G 55,328.11
 Provision for
INCOME EXPENSES
Subsidy 5 (Benefit from) NET
from Income Tax/ INCOME
GOCCs
Total Permits Service Business Other Gain/ Total Financial NG/GOCCs/ Final (LOSS)
Income and Income Income Income Premiums Expenses PS MOOE Expenses Affiliates Creditable AFTER
Licenses (Share of NG) W/holding Tax TAX
PITC-Pharma, Incorporated 32,318.28 29,812.94 2,505.33 46,597.63 5,782.42 31,531.12 9,284.09 (14,279.35)
Philippine Rice Research Institute 54,859.52 39,178.15 15,648.34 33.03 289,668.69 92,872.67 196,510.65 285.37 240,000.00 N 5,190.82
Philippine Tourism Authority 9,577,781.07 90,508.60 8,659,687.45 738,959.25 88,625.76 8,775,104.70 620,591.78 8,121,872.87 32,640.05 500.00 N 803,176.36
Quedan & Rural Credit Guarantee Corporation 1,512,611.63 1,111,571.91 399,432.92 1,606.81 1,535,862.42 289,431.90 367,993.14 878,437.38 (23,250.79)

Social, Cultural and Scientific 34,178,028.02 9,926.62 282,093.08 28,356,059.09 5,527,907.40 2,041.84 20,420,044.06 8,093,277.29 12,195,370.08 131,396.69 (10,865,226.36) 64,667.63 2,828,089.97
Cultural Center of the Philippines 110,876.44 - 4,261.24 101,976.83 3,108.82 1,529.56 282,906.73 87,718.10 195,173.64 14.99 144,486.37 N - (27,543.92)
Development Academy of the Philippines 159,439.65 - 82,981.01 63,012.20 13,446.44 - 181,478.18 61,372.63 120,105.55 - 23,069.00 N - 1,030.47
Lung Center of the Philippines 309,182.98 - 1,686.90 303,869.60 3,626.49 - 450,563.55 137,339.92 313,223.63 - 207,560.00 N - 66,179.43
National Kidney and Transplant Institute 1,229,903.89 - 3,355.87 1,210,115.14 16,432.89 - 1,345,765.48 257,294.72 1,088,470.77 - 185,065.80 N - 69,204.21
Nayong Pilipino Foundation, Inc. 38,254.07 - - 24,084.68 14,169.39 - 31,535.81 1,922.64 29,613.18 - - - 6,718.26
Occupational Safety and Health Center 10,323.46 - 3,767.12 2,001.36 4,554.98 - 70,584.59 35,346.07 35,232.43 6.09 33,756.22 G - (26,504.91)
Overseas Workers Welfare Administration 2,062,606.74 - - - 2,062,606.74 - 910,715.29 332,903.16 547,090.61 30,721.52 - - 1,151,891.45
People's Television Network, Inc. 184,423.13 - - 181,671.45 2,751.68 - 305,500.01 167,784.43 136,924.84 790.75 75,204.65 N - (45,872.23)
Philippine Amusement and Gaming Corporation 25,399,500.86 - - 22,491,312.89 2,908,187.97 - 11,774,059.25 5,556,923.19 6,183,395.91 33,740.15 (11,976,519.72) S - 1,648,921.89
Philippine Center for Economic Development 8,463.24 - - 1,737.06 6,726.17 - 7,559.45 1,146.79 6,412.66 - - - 903.79
Philippine Charity Sweepstakes Office 2,379,583.40 6,008.82 7,515.51 2,015,470.95 350,588.12 - 2,312,204.15 701,457.22 1,594,254.17 16,492.76 - - 67,379.25
Philippine Children's Medical Center 254,372.01 - - 229,991.12 24,380.89 - 439,804.12 238,434.92 201,369.20 - 226,000.00 N - 40,567.89
Philippine Heart Center 1,587,825.53 - - 1,581,451.42 5,861.84 512.28 1,716,691.26 406,814.19 1,306,716.76 3,160.31 161,151.32 N - 32,285.59
Phillipine Institute for Development Studies 33,928.02 - - 120.28 33,807.74 - 45,482.89 27,969.04 17,512.72 1.13 15,000.00 N - 3,445.13
Philippine Institute of Traditional and
Alternative Health Care 35,871.98 - - 30,243.67 5,628.31 - 62,857.75 27,411.22 35,435.81 10.73 40,000.00 N - 13,014.23
Philippine Retirement Authority 283,570.70 3,917.80 148,595.50 119,000.46 12,056.95 - 99,610.55 13,873.78 85,731.01 5.76 - 64,667.63 119,292.52
Technology and Livelihood Resource Center 89,901.92 - 29,929.94 - 59,971.98 - 382,724.99 37,565.28 298,707.19 46,452.51 - - (292,823.07)

GRAND TOTAL 718,733,824.24 726,318.44 21,089,960.22 537,287,473.52 58,481,684.87 101,148,387.19 546,733,681.48 51,300,583.74 435,230,879.64 60,202,218.09 917,177.43 4,342,279.56 168,575,040.62

Difference between totals and sum of components is due to rounding off.

Notes:
1. The financial information presented in this report were generated from financial statements of 408 out of 601 GOCCs. Of the 408 GOCCs, 5. Total subsidy from NG (N) - P 13.35 billion
274 were water districts. Total subsidy from GOCCs (G) - 0.17 billion
Share of NG (12.60 billion)
The Consolidated Balance Sheet showed total assets of P 5,274.51 billion, total liabilities of P3,954.52 billion, total deferred credits Net Amount 0.92 billion
of P56.56 billion and total equity of P1,263.43 billion. Compared with FY 2005 restated figures, Assets, Liabilities and Equity
registered growth of P556.20 billion or 11.79 percent, P331.89 billion or 9.16 percent and P228.26 billion or 22.05 percent, 6. Net Loss of CB-BOL in FY 2006 was primarily due to loss on foregn exchange fluctuations of P14.47 billion and interest expense on foreign
respectively, while deferred credits posted a decrease of P3.95 billion or 6.54 percent. borrowings of P1.44 billion.

2. Deferred Credits pertain to collections for income not yet earned, services not yet rendered and goods not yet delivered. HDMF accounted
for 21.93 percent or P12.41 billion of the total while NIA accounted for 20.41 percent or P11.52 billion of the total.
3. The Central Bank - Board of Liquidator's (CB-BOL) is the juridical entity mandated to retain and administer, dispose of and liquidate the
assets and liabilities of the then Central Bank of the Philippines not transferred to or assumed by the Bangko Sentral ng Pilipinas.
7. Business Income of GSIS consists of GSIS-SIF income from members contribution - P38.59 billion, interest on premium arrearages - P0.48 billion
and interest on loans - P15.28 billion that totalled P54.36 billion and GSIS-AF business income from insurance premium - P6.70 billion and interest
on premium arreages and revenue from loans - P0.18 billion which totalled P6.88 billion.
8. SSS Business Income includes members contribution of P52.54 billion and other business income of P12.11 billion.

CB-BOL deficits of P411.89 billion consist of suspense assets written-off in FY 2003 amounting to P320.79 billion and P91.10 9. Significant amount of net loss of NFA was due to higher procurement price of rice, sugar and cereals over its selling price which is
billion accumulated losses from operations and foreign exchange fluctuations. mandated by law.

4. The overall operations of GOCCs generated net income of P168.58 billion in FY 2006, an increase of P2.98 billion or 1.80 percent Legend:
from P165.59 billion in FY 2005. Gross Income of P718.73 billion showed an increase of P38.59 billion or 5.67 percent. Business income N - Subsidy from National Government
was the major source of income with P537.29 billion representing 74.76 percent of the total. The balance of 25.24 percent G - Subsidy from GOCCs/Affiliates
comprises of Gain/Premiums - P101.15 billion or 14.07 percent, Other Income - P58.48 billion or 8.14 percent, Service Income - S - Share of National Government
P21.09 billion or 2.93 percent and Permits and Licenses - P0.73 billion or 0.10 percent.