Wednesday, February 06, 2013

Entrepreneurial Farmer

Ambrosio R. Villorente

Cuachon Stops Physician’s 
Private Practice


Effective February 16, 2013, private practices of physicians employed at Dr. Rafael S. Tumbokon Memorial Hospital (DRSTMH) is stopped. This is announced by Dr. Cornelio V. Cuachon, Jr. of the DRSTMH during the 23rd regular weekly meeting of the Rotary Club of Kalibo held on Tuesday, February 5.

According to Cuachon, the private practice of government physicians of DRSTMH has adversely affected the services in the said hospital. “The private practice has delayed medical services that could have been given to patients, but delayed because the concerned physicians were out on private practice”. 

Cuachon specifically mentioned the delay in surgery for 5 to 6 days”.

Beginning Feb 16, all physicians are directed to observe Civil Service law and rules especially the compliance to office hours. They will be on eight hours duty in the hospital.

But the physicians can engage in private practice outside of office hours, Cuachon admitted. 

“Those who will apply to engage in private practice will be granted permission subject to certain conditions”, said Cuachon. “Maybe they will be allowed provided private practice is done after office hours”, Cuachon added.

2013 Sto. Niño 
Ati-atihan Festival Loses Money

The Kalibo Sto. Niño Ati-atihan Foundation, Inc. (KASAFI) in its Statement of Income and Expenses as of Jan. 29, 2013 reported a total Net Income of P4,745,414.28. This report is as follows: 

Balance as of January 31, 2012- Php1,330,413.15
Add: Total Cash Receipts - 3,607,277.38
(per OR # 533 to 718) SUBTOTAL - Php 4,937,690.53
Add: Interest on Deposit - 21,521.86
TOTAL - Php 4,959,212.39
Less: Expenses - Php 3,930,903.11
(refer to attached breakdown)
INCOME - Php1,028,309.28
Add: Accounts Receivables - 3,717,105.00
(per attached breakdown)
TOTAL NET INCOME - Php 4,745,414.28

This report cited was signed by the responsible officers of KASAFI who are Mr. Rufino C. Leyson – Treasurer; Ms. Milla R. Balleza – Secretary; Mr. Edison M. Lao and Mr. Augusto C. Tolentino – Auditors, and Mr. Albert A. Meñez – chairman.

Going over the Statement of Income and Expenses, the Net Income appears big – P4,745,414.28, but it is not.

This is not the total income gained in the 2013 Kalibo Sto. Niño Festival celebration. Take note that the report states: “Balance as of Jan. 31, 2012 – P1,330,413.15”, this is not earned in the 2013 but earned the previous celebration.

Moreover, the interest on Deposit is P21,521.86 which is certainly earned by the money of the previous year’s income.

In addition to the previous balance and interest earned on deposit, there is the P3,641,105 donations made by business firms and public officials. 

Adding these three items, it total to P4,993,041.68. 

However, in my analysis, the P1,330,413.15 is the KASAFI money as of Jan. 31, 2012, and the interest on deposit of 21,521.86 are already available before the 2013 celebration. It must be excluded in the computation of net income for 2013 Ati-atihan.

Using the total income of P4,959,212.39 presented in the report is misleading because those two items are already available even before the 2013 Sto. Niño Festival. 

The 2013 Kalibo Ati-atihan festival only grossed P3,667,277.38 as the Statement of Income and Expenses show. After subtracting the total expenses of P3,930,903.11, the net gain is negative P323,625.72. KASAFI lost.

The amount of P3,641,105.00 are still receivables. This represents the amounts pledged by political leaders and business firms.

Another P76,000 earned in the Souvenir Program is also collectible. /MP

1 comment:

Anonymous said...

Congratulations to KASAFI. It would be great to make the financial report in balance sheet, income statement and cashflow formats following Generally Accepted Accounting Principles (GAAP) and signed by a CPA. Furthermore it should include years 2011, 2012 and 2013. Hala Bira!