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ATENEO DE MANILA MULTI-PURPOSE COOPERATIVE Ateneo De Manila University, Katipunan Avenue, Loyola Heights, Quezon CitySTATEMENT OF MANAGEMENT’S RESPONSIBILITY FOR FINANCIAL STATEMENTSThe management of ATENEO DE MANILA MULTI-PURPOSE COOPERATIVE is responsible for all information and representations co...

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ATENEO DE MANILA MULTI-PURPOSE COOPERATIVE Ateneo De Manila University, Katipunan Avenue, Loyola Heights, Quezon City

STATEMENT OF MANAGEMENT’S RESPONSIBILITY FOR FINANCIAL STATEMENTS

The management of ATENEO DE MANILA MULTI-PURPOSE COOPERATIVE is responsible for all information and representations contained in the financial statements for the years ended December 31, 2014 and 2013. The financial statements have been prepared in conformity with Financial Reporting Standards applicable to Cooperatives in the Philippines and reflect amounts that are based on the best estimates and informed judgment of management with an appropriate consideration to materiality. In this regard, management maintains a system of accounting and reporting which provides for the necessary internal controls to ensure that transactions are properly authorized and recorded, assets are safeguarded against unauthorized use or disposition and liabilities are recognized. The Board of Directors reviews the financial statements before such statements are approved and submitted to the members of the Cooperative. FERNANDO O. VIESCA, JR., the independent auditor and appointed by the Board of Directors, has examined the financial statements of the Cooperative in accordance with the Philippine Standards on Auditing and the Standard Audit System for Cooperatives and has expressed his opinion on the fairness of presentation upon completion of such examination, in his report to members of the Cooperative.

TIMOTHY G. GABUNA Board Chairman

CHRISTINA R. BARZABAL General Manager

REGINALDO M. MARCELO Treasurer

FERNANDO O. VIESCA, JR.

CERTIFIED PUBLIC ACCOUNTANT Member: Philippine Institute of Certified Public Accountants (PICPA) CDA Accredited Cooperative Auditor INDEPENDENT AUDITOR’S REPORT

TO THE BOARD OF DIRECTORS Ateneo De Manila Multi-Purpose Cooperative Ateneo De Manila University, Katipunan Avenue, Loyola Heights, Quezon City I have audited the accompanying financial statements of ATENEO DE MANILA MULTI-PURPOSE COOPERATIVE, which comprise the statements of financial condition as at December 31, 2014 and 2013, and the statements of operation, statements of changes in equity and statements of cash flows for the years then ended, and a summary of significant accounting policies and other explanatory notes. Management’s Responsibility for the Financial Statements Management is responsible for the preparation and fair presentation of these financial statements in accordance with Financial Reporting Standards applicable to Cooperatives in the Philippines, taking into consideration Cooperative laws, rules, regulations and principles. This responsibility includes designing, implementing and maintaining internal control relevant to the preparation and fair presentation of financial statements that are free from material misstatements, whether due to fraud or error; selecting and applying appropriate accounting policies; and making accounting estimates that are reasonable in the circumstances. Auditor’s Responsibility My responsibility is to express an opinion on these financial statements based on my audit. I conducted my audit in accordance with Philippine Standards on Auditing. Those standards require that I comply with ethical requirements and plan and perform the audit to obtain reasonable assurance whether the financial statements are free from material misstatements. An audit involves performing procedures to obtain audit evidence about the amounts and disclosures in the financial statements. The procedures selected depend on the auditor’s judgment, including the assessment of the risks of material misstatement of the financial statements, whether due to fraud or error. In making those risk assessments, the auditor considers internal control relevant to the entity’s preparation and fair presentation of the financial statements in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the entity’s internal control. An audit also includes evaluating the appropriateness of accounting policies used and the reasonableness of accounting estimates made by management, as well as evaluating the overall presentation of the financial statements. I believe that the audit evidence I have obtained is sufficient and appropriate to provide a basis for my audit opinion. Opinion In my opinion, the financial statements present fairly, in all material respects, the financial position of ATENEO DE MANILA MULTI-PURPOSE COOPERATIVE, as of December 31, 2014 and 2013, and of its financial performance, changes in equity, and its cash flows for the years then ended in accordance with Financial Reporting Standards applicable to Cooperatives in the Philippines, taking into consideration Cooperative laws, rules, regulations and principles.

FERNANDO O. VIESCA, JR. CPA No. 43051 TIN No. 137-764-917 PTR No. 9238648 Dated January 20, 2015, Quezon City PRC–BOA Registration No. 0864 CDA CEA No. 886 BIR Accreditation No. 05-004375-1-2012 March 06, 2015 Caloocan City

Block 3, Lot 1, Coopville, Bagumbong Dulo, Caloocan City Cell No. 0906-4647749, Email add: [email protected]

FERNANDO O. VIESCA, JR.

CERTIFIED PUBLIC ACCOUNTANT

Member: Phil. Institute of Certified Public Accountants (PICPA) CDA Accredited Cooperative Auditor STATEMENT OF REPRESENTATION

TO THE COOPERATIVE DEVELOPMENT AUTHORITY: In connection with my examination of the financial statements of the ATENEO DE MANILA MULTIPURPOSE COOPERATIVE covering the period ended December 31, 2014 that are herewith submitted to the Cooperative Development Authority, I hereby represent the following: 1. That said financial statements herewith attached are prepared and presented in conformity with the financial reporting standards applicable to cooperatives in the Philippines; 2. That in the conduct of my audit, I adhered to the Philippine Standards on Auditing and the Standard Audit System for Cooperatives (SASC) as required by the Cooperative Development Authority; 3. That I am qualified as provided for in Section 8 of the Code of Professional Ethics for Certified Public Accountants and Article 81 of R.A. No. 9520 (Cooperative Code of the Philippines); 4. That I am fully aware of my responsibility as an independent auditor for the audit report issued and attached to the financial statements and the sanctions to be bestowed on me for my misrepresentations that I may have willingly or unwillingly committed. 5. That I nor any member of my immediate family do not have any direct or indirect financial interest with the cooperative; 6. That I am not an employee nor an officer of a secondary cooperative or tertiary cooperative of which this cooperative is a member; 7. That I am not an employee of the Cooperative Development Authority nor have I engaged an employee of the CDA in the course of audit; 8. That I make this representation in my individual capacity; 9. That I am a member of the North Caloocan Chapter of the PICPA. It is however, understood that my accountability is based on matter within the normal coverage of an audit conducted in accordance with Philippine Standards on Auditing and the Standard Audit Systems for Cooperatives.

FERNANDO O. VIESCA, JR. CPA No. 43051 TIN No. 137-764-917 PTR No. 9238648 Dated January 20, 2015, Quezon City PRC–BOA Registration No. 0864 CDA CEA No. 886 BIR Accreditation No. 05-004375-1-2012

March 06, 2015 Caloocan City

ATENEO DE MANILA MULTI-PURPOSE COOPERATIVE Ateneo de Manila University, Katipunan Avenue, Loyola Heights, Quezon City CDA Registration No. 9520-16012560 STATEMENTS OF FINANCIAL CONDITION AS OF DECEMBER 31, 2014 and 2013 (Amounts in Philippine Pesos)

A S S E T S CURRENT ASSETS: Cash and Cash Equivalents Loans and Receivables, Net Inventories Other Current Assets Total Current Assets NON-CURRENT ASSETS: Property, Plant and Equipment, Net Other Non-Current Assets Total Non-Current Assets TOTAL ASSETS LIABILITIES AND EQUITY LIABILITIES CURRENT LIABILITIES: Deposit Liabilities Trade, Non-Trade and Other Payables Interest on Share Capital Payable Patronage Refunds Payable Other Current Liabilities Total Current Liabilities NON-CURRENT LIABILITIES: Retirement Fund Payable Members' Benefit and Other Funds Payable Total Non-Current Liabilities TOTAL LIABILITIES EQUITY Paid-Up Share Capital Donations and Grants Statutory Funds Total Equity TOTAL LIABILITIES AND EQUITY

NOTES

2014

2013

2.3, 3 2.5, 2.6, 4 2.7

7,243,703.14 35,316,142.61 997,246.18 301,502.71 43,858,594.64

1,181,219.34 37,475,300.26 871,696.25 468,402.73 39,996,618.58

2.8, 5 6

838,693.13 3,636,416.93 4,475,110.06 48,333,704.70

578,069.93 3,636,416.93 4,214,486.86 44,211,105.44

22,805,314.41 2,049,908.07 2,532,331.88 425,171.66 690,351.12 28,503,077.14

18,270,400.03 2,726,373.18 2,397,956.18 328,110.65 649,423.82 24,372,263.86

2.10

1,607,022.63 1,020,257.29 2,627,279.92 31,130,357.06

1,576,966.34 1,020,257.29 2,597,223.63 26,969,487.49

2.11

12,138,760.82 (63,246.36) 5,127,833.18 17,203,347.64 48,333,704.70

12,220,953.65 18,479.64 5,002,184.66 17,241,617.95 44,211,105.44

7 2.13 2.13 8

2.13, 9

See Accompanying Notes to Financial Statements

ATENEO DE MANILA MULTI-PURPOSE COOPERATIVE Ateneo de Manila University, Katipunan Avenue, Loyola Heights, Quezon City CDA Registration No. 9520-16012560 STATEMENTS OF OPERATIONS FOR THE YEARS ENDED DECEMBER 31, 2014 and 2013 (Amounts in Philippine Pesos)

NOTES REVENUES: Gross Income on Sales Interest Income from Loans Service Fees Fines, Penalties, Surcharges Membership Fees Concession Income Rental Income Income/Interest from Investments/Deposits Miscellaneous Income Total Revenues LESS: EXPENSES: Financing Costs Selling Costs Administrative Costs Total Expenses NET SURPLUS FOR THE YEAR (FOR ALLOCATION) Reserve Fund Education and Training Fund (Local) Optional Fund Community Development & Social Fund Interest on Capital & Patronage Refunds NET SURPLUS (AS ALLOCATED)

2.12 10 2.12.1 2.12.2 2.12.2 2.12.3 2.12.3 2.12.3 2.12.4 2.12.5

2014

2013

11,799,572.49 5,512,423.61 1,369,372.11 22,404.56 5,600.00 3,699,350.66 240,261.10 14,618.38 760,664.79 23,424,267.70

12,514,184.23 5,340,935.49 1,916,091.44 6,815.98 7,100.00 4,248,249.02 291,881.15 5,293.33 721,882.04 25,052,432.68

636,852.69 16,001,918.88 4,760,869.21 21,399,640.78 2,024,626.92 202,462.69 202,462.69 141,723.88 60,738.81 1,417,238.85 2,024,626.92

521,116.50 17,292,405.94 5,676,478.59 23,490,001.03 1,562,431.65 156,243.17 156,243.17 109,370.22 46,872.95 1,093,702.14 1,562,431.65

11

2.13

See Accompanying Notes to Financial Statements

ATENEO DE MANILA MULTI-PURPOSE COOPERATIVE Ateneo de Manila University, Katipunan Avenue, Loyola Heights, Quezon City CDA Registration No. 9520-16012560 STATEMENTS OF CASH FLOWS FOR THE YEARS ENDED DECEMBER 31, 2014 and 2013 (Amounts in Philippine Pesos)

NOTES CASH FLOWS FROM OPERATING ACTIVITIES: Net Surplus for the Year Adjustments to Reconcile Net Surplus to Net Cash Provided by Operating Activities: Depreciation Retirement Benefit Expense Change in Assets and Liabilities: Decrease (Increase) in: Short-Term Investments Loans and Receivables Inventories Other Current Assets Increase (Decrease) in: Deposit Liabilities Trade, Non-Trade and Other Payables Other Current Liabilities Net Cash Provided by Operating Activities CASH FLOWS FROM INVESTING ACTIVITIES: Acquisition of Property, Plant and Equipment Net Cash Used in Investing Activities CASH FLOWS FROM FINANCING ACTIVITIES: Withdrawal/Addition of Share Capital (Decrease)in Donations and Grants Payment of Interest on Share Capital & Patronage Refunds Payables (Decrease) in Retirement Fund Payable (Decrease) in Members' Benefit & Other Funds Payable Change in Statutory Funds Net Cash Used in Financing Activities NET INCREASE (DECREASE) IN CASH CASH AND CASH EQUIVALENTS, JANUARY 01 CASH AND CASH EQUIVALENTS, DECEMBER 31

2014

2013

2.12

2,024,626.92

1,562,431.66

2.8 2.10

140,865.80 495,147.67

214,733.24 568,929.91

2,159,157.65 (125,549.93) 166,900.02

2,607,089.88 (2,046,525.58) 92,417.89 (233,462.41)

4,534,914.38 (676,465.11) 40,927.30 8,760,524.70

621,905.23 1,988,332.60 58,207.06 5,434,059.48

2.8, 5

(401,489.00) (401,489.00)

(111,274.50) (111,274.50)

2.11

(82,192.83) (81,726.00)

115,863.48 (1,100.00)

2.13 2.10

(1,185,802.14) (465,091.38) (481,739.55) (2,296,551.90) 6,062,483.80 1,181,219.34 7,243,703.14

(1,800,229.21) (565,792.51) (32,271.27) (3,581,106.08) (5,864,635.59) (541,850.61) 1,723,069.95 1,181,219.34

2.4 2.5, 2.6, 4 2.7

7 8

2.13, 9

2.3, 3

See Accompanying Notes to Financial Statements

ATENEO DE MANILA MULTI-PURPOSE COOPERATIVE Ateneo de Manila University, Katipunan Avenue, Loyola Heights, Quezon City CDA Registration No. 9520-16012560 STATEMENTS OF CHANGES IN EQUITY FOR THE YEARS ENDED DECEMBER 31, 2014 and 2013 (Amounts in Philippine Pesos)

SHARE CAPITAL Beginning Balance Add: Additional Capital Build-Up Less: Withdrawals in Capital Ending Balance DONATIONS AND GRANTS Beginning Balance Add: Additional/Credits Less: Charges Ending Balance STATUTORY FUNDS: RESERVE FUND: Beginning Balance Add: Allocation: 10% net surplus from Operations Less: Charges Ending Balance EDUCATION AND TRAINING FUND Beginning Balance Add: Allocation: 10% net surplus from Operations Less: Charges Ending Balance OPTIONAL FUND Beginning Balance Add: Allocation: 7% net surplus from Operations Less: Charges Ending Balance COMMUNITY DEVELOPMENT AND SOCIAL FUND Beginning Balance Add: Allocation Credits Less: Charges Ending Balance TOTAL STATUTORY FUNDS TOTAL EQUITY

NOTES 2.11

2014

2013

12,220,953.65 692,307.70 (774,500.53) 12,138,760.82

12,105,090.17 115,863.48 12,220,953.65

18,479.64 (81,726.00) (63,246.36)

19,579.64 (1,100.00) 18,479.64

2,163,147.00 202,462.69 (0.02) 2,365,609.67

3,208,199.21 156,243.17 (1,201,295.38) 2,163,147.00

1,397,237.62 202,462.69 (262,903.24) 1,336,797.07

2,529,887.66 156,243.17 (1,288,893.21) 1,397,237.62

1,437,628.11 141,723.88 1,579,351.99

2,020,814.06 109,370.22 (692,556.17) 1,437,628.11

4,171.93 60,738.81 (218,836.29) (153,925.55) 5,127,833.18 17,203,347.64

355,660.30 46,872.95 (398,361.32) 4,171.93 5,002,184.66 17,241,617.95

2.13 9

9

9

9

See Accompanying Notes to Financial Statements

ATENEO DE MANILA MULTI-PURPOSE COOPERATIVE Ateneo de Manila University, Katipunan Avenue, Loyola Heights, Quezon City CDA Registration No. 9520-16012560 AUDIT ADJUSTMENTS AS OF DECEMBER 31, 2014 AJE NO. PARTICULARS 1 Retail Sales Canteen Wares Deposit Income To correct erroneous recording of O.R. No. 129898 dated 10/15/14. 2

3

4

5

6

7

Loans Receivable Time Deposits (MIF) Paid-Up Share Capital To correct erroneous recording of O.R. No. 131053, 131078 dated 12/05/14 received from Chardarello Policarpio, Jebriel Puno, respectively.

CREDIT 62.00

62.00

5,000.00 4,450.00 550.00

Sub-Concession Income Petty Cash Loans Receivable To correct erroneous recording of O.R. No. 131171 dated 12/12/14 received from Larry Palaming.

1,300.00

Accounts Receivable - Sub-concessionaires Fines, Penalties & Surcharges To correct erroneous recording of O.R. No. 131183 dated 12/12/14 received from Julieto Amora.

26.95

Accounts Payable - Suppliers Purchases - Canteen Canteen Supplies To correct erroneous recording of CV. Nos. 1200002145, 1200002151 dated 11/03/14, 11/05/14 paid to LCP General Merchandise.

DEBIT

1,300.00

26.95

6,879.40 75.00 6,804.40

Canteen Supplies Purchases - Canteen To correct erroneous recording of CV Nos. 1200002176, 1200002203, 1200002205, 1200002232 dated 11/05/14, 11/20/14, 11/28/14.

22,875.00

Purchases - Canteen Accounts Payable - Suppliers To record unrecorded purchases as per CV No. 1200002232 dated 11/28/14 paid to LCP General Merchandise and to reverse adjustments made as per CV Nos. 1201018,1201592 ,1201594, 1201601, 1201975 dated 02/18/14, 05/06/14, 05/08/14, 09/05/14 paid to Joenne Enterprises, Dimax Dist. Enterprises, MEC Foxt Express, Suncoast Brands International and Contrade Integrated, respectively.

72,161.15

22,875.00

72,161.15

PARTICULARS AJE NO. 8 Catering Sales Retail Sales Service Fees - Canteen Puchases - Canteen To correct erroneous recording of SI. Nos. 75385, 75388, 75390, 75455, 75462, 75505, 75506, 75524,75526, 75539 dated 10/08/14, 10/11/14, 10/14/14, 10/15/14, 10/17/14, 10/18/14. 9

10

11

12

13

14

CREDIT 2,377.50 74.00

1,814.50 637.00

Service Fees - Canteen Purchases Canteen To correct erroneous recording of SI No. 75453 dated 10/11/2014.

187.50

Retail Sales Counter Sales To correct erroneous recording of SI No. 75492 dated 10/14/14.

250.00

Counter Sales Service Fees - Canteen Accounts Receivable - Canteen To adjust the overstatement of SI No. 75832 dated 11/07/14 sold to ADMU/HRMO.

190.00 28.50

187.50

250.00

218.50

Employee Charge Sales - Counter Sales Employee Charge Sales - Retail Sales To correct erroneous recording of SI No. 76117 dated 11/22/14.

9.00

Equipment Rental Income Accounts Receivable - Canteen To correct erroneous recording of SI No. 76431 dated 12/17/14 sold to ADMU/History

50.00

Accounts Receivable - Canteen Service Fees - Canteen To adjust the understatement of SI No. 76521 dated 12/20/14 sold to ADMU/SOM.

CREDIT OPERATION 15 Other Interest Income Interest Income from Loans To correct erroneous recording of CV Nos. 120000486, 120000488 dated 12/13/14.

DEBIT

9.00

50.00

0.90 0.90

1,760.00 1,760.00

ATENEO DE MANILA MULTI-PURPOSE COOPERATIVE Ateneo de Manila University, Katipunan Avenue, Loyola Heights, Quezon City CDA Registration No. 9520-16012560

NOTES TO FINANCIAL STATEMENTS AS OF DECEMBER 31, 2014 NOTE 1 – ORGANIZATION AND TAX EXEMPTIONS The ATENEO DE MANILA MULTI-PURPOSE COOPERATIVE formerly known as Ateneo Consumers Cooperative, Inc. was incorporated and registered with the defunct Bureau of Agricultural Cooperatives Development (BACOD) as full-fledged Consumers Cooperative under the repealed Presidential Decree No. 175 and Letter of Implementation No. 23. It was confirmed as a full-fledged Multi-Purpose Cooperative with the Cooperative Development Authority (CDA) under repealed Republic Act No. 6938 known as Cooperative Code of the Philippines. The Cooperative was registered with the Cooperative Development Authority under Republic Act No.9520 with Registration No.9520-16012560 dated April 28, 2010. The Cooperative was exempt from income and sales taxes for five (5) years from the date of registration as provided in Section 5 of the repealed Presidential Decree No. 175. It was also exempt from the payment of income and sales taxes for a period ...