KAMAHARI AGRI-BASED MULTI-PURPOSE COOPERATIVE STATEMENT OF FINANCIAL CONDITION DECEMBER,2010

ASSETS

Current Assets Cash on Hand and in Banks (Note 3) Accounts Receivable Loans Receivable (Note 4) Other Receivable (Note 5) Other Current Assets (Note 6) Total Current Assets 257,051.17 1,107,044.64 12,261,624.19 1,014,598.39 3,123,530.76 17,763,849.15

Investments (Note 7)

382,741.33

Property and Equipmwnts - Net (Note 8) TOTAL ASSETS

2,477,361.44 20,623,951.92

LIABILITIES , RESERVES AND MEMBERS' EQUITY

Current Liabilities Savings Deposits (Note 9) Loans Payable (Note 10) Loans Payable Other Liabilities (Note 11) Total Current Liabilities CMGF Payable Total Liabilities 846,607.73 4,325,662.01 4,625,662.01 507,731.73 10,305,663.48 1,111,204.45 11,416,867.93

Members' Equity Paid-up Share Capital Donated Capital Grants Reserves Income (loss ) Total Members' Equity 4,555,585.43 435,570.00 5,165,559.04 5,608,473.79 796,180.37 16,561,368.63

Total Liabitlites and Members' Equity

27,978,236.56

KAMAHARI AGRI-BASED MULTI-PURPOSE COOPERATIVE NOTES TO FINANCIAL STATEMENTS DECEMBER,2010

1.

Cooperative Profile The Kamahari Agri-Based Multi-purpose Cooperative , Inc. ( KAMAHARI ABMPC ) was organized in August 18, 1994 and later registered with the Cooperative Development Authority ( CDA ) on February 2, 1995.

However, the cooperative have been established with the several units such as the local government units, Land Bank of the Philippines, Department of Agrarian Reform, Department of Agriculture, Batangas Sugar Central, Inc., Central Azucarera Don Pedro, and SOLCENTAF.

2.

Summary of Significant Accounting Principles Basis of Financial Statements KAMAHARI prepares its financial statements on a modified cash basis, which includes provisions for depreciation on property and equipment, and accrual of expenses.

Cash on Hand and in Banks Cash on Hand and in Banks are currencies or cash items on hand ( such as cash items , cash deposits and cash working funds) as well as peso deposit in banks, which are unrestricted and immediately available for use in the current operations.

Property and Equipment Property and Equipment are carried at cost less accumulated depreciation. Depreciation is computed using straight-line method over the estimated useful lives of the properties. The cost of maintenance and repairs are charged to income as incurred; significant renewals and improvements are capitalized. When assets are retired or otherwise disposed of, the cost and related accumulated depreciation are removed from the accounts and any resulting gain or loss is reflected in the year income.

Investments Investment are carried at cost.

3.

Cash on Hand and in Banks This account consists of:

Cash on Hand Cash in Banks Total

19,000.00 238,051.17 257,051.17

KAMAHARI AGRI-BASED MULTI-PURPOSE COOPERATIVE NOTES TO FINANCIAL STATEMENTS DECEMBER,2010

4.

Loans Receivable This account consists of: Regular Loan Receivable Production Loan Receivable Emergency Loan Receivable MSO Micro Finance Loan Receivable Solcentaf Loan Receivable Loan Receivable MFG Leasehold Contract Loan Receivable Loan Receivables Salary High Value Crops Loan Receivables HOG Fattening loan Recievables Loan Receivable Fertilizer Loan Receivable Pension Total Loans Receivable Less: Allowance for Doubtful Accounts Net Total 1,305,288.02 5,848,618.01 848,910.80 1,263,921.19 113,460.70 908,734.07 1,594,850.08 54,250.00 14,171.00 201,000.00 15,895.00 152,500.00 12,321,598.87 59,974.68 12,261,624.19

5.

Other Receivables This account consists of: Cash Advance-Regular Cash Advance-Cutting Cash Advance-hauling Cash Advance-Quedan Cash Advance-Fuel & Lubricant Cash Advance- owner Cash Advance- tractor Cssh Advance tuck Cash Advance- vegetable Debit Balance of Inter-Coop/Funding Advances Other Receivables Total 394,536.73 22,435.90 14,435.90 27,062.92 30,554.43 895.00 1,700.00 12,100.00 3,774.00 611,386.31 8,605.09 1,014,598.39

6.

Other Current Assets This account consists of: Materials and Supplies Deposits on Returnable Container Pre-Operating Expenses Total 537,087.30 6,066.00 2,580,377.46 3,123,530.76

7.

Investments This account consists of: Hold Out Deposits-LBP KMHRI-Sugargane SIDC Contract Grower Grape Seed Investment Batangas coopbank Savings coop bank Goat raising Total 206,100.51 144,185.72 5,050.00 19,605.10 2,800.00 7,500.00 5,000.00 19,597.00 409,838.33

KAMAHARI AGRI-BASED MULTI-PURPOSE COOPERATIVE NOTES TO FINANCIAL STATEMENTS DECEMBER,2010

8.

Property and Equipment This account consists of: Office Equipment Furniture and Fixtures Transport Equipment Canteen Equipment Farm Equipment Farm Tractor Garage Land Building ELF B2B Equipment Total Less: Accumulated Depreciation Net Total 864,788.72 83,874.50 942,790.10 98,760.67 3,642,908.63 312,333.74 628,883.01 599,690.04 68,209.00 263,289.40 7,505,527.81 5,028,166.37 2,477,361.44

9.

Savings Deposits (MSO) This account consists of: Savings Account Teen Savers Young Depositors Total 602,000.00 22,000.00 222,607.73 846,607.73

10.

Loans Payable This account consists of: Department of Agriculture Land Bank Of The Philippines COOP BANK Total 0.00 4,325,662.01 300,000.00 4,325,662.01

11.

Other Liabilities This account consists of: Creditt Balance of Inter-Coop/Funding Advances Philheath Premium Payable Withhbolding Tax Payable Value Added Tax Total 480,429.02 27,302.71 0.00 0.00 507,731.73

KAMAHARI AGRI-BASED MULTI-PURPOSE COOPERATIVE NOTES TO FINANCIAL STATEMENTS DECEMBER,2011

1.

Cooperative Profile The Kamahari Agri-Based Multi-purpose Cooperative , Inc. ( KAMAHARI ABMPC ) was organized in August 18, 1994 and later registered with the Cooperative Development Authority ( CDA ) on February 2, 1995.

However, the cooperative have been established with the several units such as the local government units, Land Bank of the Philippines, Department of Agrarian Reform, Department of Agriculture, Batangas Sugar Central, Inc., Central Azucarera Don Pedro, and SOLCENTAF.

2.

Summary of Significant Accounting Principles Basis of Financial Statements KAMAHARI prepares its financial statements on a modified cash basis, which includes provisions for depreciation on property and equipment, and accrual of expenses.

Cash on Hand and in Banks Cash on Hand and in Banks are currencies or cash items on hand ( such as cash items , cash deposits and cash working funds) as well as peso deposit in banks, which are unrestricted and immediately available for use in the current operations.

Property and Equipment Property and Equipment are carried at cost less accumulated depreciation. Depreciation is computed using straight-line method over the estimated useful lives of the properties. The cost of maintenance and repairs are charged to income as incurred; significant renewals and improvements are capitalized. When assets are retired or otherwise disposed of, the cost and related accumulated depreciation are removed from the accounts and any resulting gain or loss is reflected in the year income.

Investments

Investment are carried at cost.

3.

Cash on Hand and in Banks This account consists of:

Cash on Hand Cash in Banks Total

19,000.00 1,593,602.17 1,612,602.17

KAMAHARI AGRI-BASED MULTI-PURPOSE COOPERATIVE NOTES TO FINANCIAL STATEMENTS DECEMBER,2011

4.

Loans Receivable This account consists of: Regular Loan Receivable Production Loan Receivable Emergency Loan Receivable Solcentaf Loan Receivable Loan Receivable MFG Leasehold Contract Loan Receivable Livestock Loan Receivable High Value Crops Loan Receivables Loan Receivable Fertilizer Loan Receivable Pension Total Loans Receivable Less: Allowance for Doubtful Accounts Net Total 2,234,106.66 6,332,611.02 871,720.06 113,460.70 1,135,769.07 1,589,550.08 835,392.07 103,203.06 15,895.00 72,000.00 13,303,707.72 59,974.68 13,243,733.04

5.

Other Receivables

This account consists of: Cash Advance-Regular Cash Advance-Cutting Cash Advance-hauling Cash Advance-Quedan Cash Advance-Fuel & Lubricant Cash Advance- owner Cash Advance- tractor Cash Advance- vegetable Debit Balance of Inter-Coop/Funding Advances Other Receivables Total 291,092.02 37,125.14 22,435.90 148,162.17 28,434.42 895.00 1,700.00 3,774.00 556,386.31 6,205.09 539,823.69

6.

Other Current Assets This account consists of: Materials and Supplies Deposits on Returnable Container Fertilizer dolomite Pre-Operating Expenses Goat Raising Total 787,850.33 6,066.00 284,440.00 3,546,140.00 19,597.00 4,644,093.33

7.

Investments This account consists of: Hold Out Deposits-LBP KMHRI-Sugargane SIDC Contract Grower Grape Seed Investment Batangas coopbank Total 206,100.51 401,146.59 5,050.00 19,605.10 2,800.00 20,000.00 654,702.20

KAMAHARI AGRI-BASED MULTI-PURPOSE COOPERATIVE NOTES TO FINANCIAL STATEMENTS DECEMBER,2011

8.

Property and Equipment This account consists of: Office Equipment Furniture and Fixtures Transport Equipment Canteen Equipment Farm Equipment Farm Tractor Garage Land Building ELF B2B Equipment Total Less: Accumulated Depreciation Net Total 847,989.72 83,874.50 754,180.98 98,760.67 3,680,908.63 312,333.74 628,883.01 599,690.04 68,209.00 263,289.40 7,338,119.69 5,146,329.42 2,191,790.27

9.

Savings Deposits (MSO) This account consists of: Savings Account Teen Savers Young Depositors Total 597,799.39 26,920.60 243,223.39 867,943.38

10.

Loans Payable This account consists of: Department of Agriculture Land Bank Of The Philippines COOPBANK Total 0.00 5,772,064.50 1,500,000.00 7,272,064.50

11.

Other Liabilities This account consists of: Creditt Balance of Inter-Coop/Funding Advances Philheath Premium Payable Withhbolding Tax Payable Value Added Tax Total 316,429.02 30,388.01 0.00 0.00 346,817.03

KAMAHARI AGRI BASED MULTI PURPOSE COOPERATIVE SUMMARY OF INCOME AND EXPENSES DECEMBER,2011 COOP INCOME Interest income on Loans Other Sources of Income Service Fee Membership Fee Space Rental Fee Other Income from Investment Income from Tractor Income from Xerox Income from Penalty Income from Elf Hauling Fee TOTAL GROSS INCOME COOP OPERATING EXPENSES Meals and Transportation Expenses Interest Expenses Insurance, Bonds, and Legal Expenses Salaries & Wages Honorarium Office Supplies Commission Expenses Depreciation Expenses Miscellaneous Expenses Commission expenses - Collector Electricity and Water Outside Service Contract Fuel and Lubricants General Assembly Expenses Xerox Expenses Repair and maintenance Bank Charges Emloyer Share Christmas Gift Expenses Postage, Telephone and Telegraph Trainings/ Seminar Expense Catering Services Expenses 13th Month Pay Officers, Committees and Employees Benefits TOTAL COOP EXPENSES NET OPERATING INCOME ( LOSS) 62,277.40 482,704.65 69,567.80 675,222.53 190,728.33 47,638.75 214,685.13 337,897.42 201,439.22 45,021.87 62,287.23 192,325.01 396,580.51 44,249.10 18,848.00 231,993.48 (820.00) 87,782.90 7,966.00 28,067.85 1,859.00 (5,000.00) 52,987.82 99,830.00 3,546,140.00 529,767.02 1,420,306.06 398,283.43 3,100.00 2,000.00 351,836.23 583,496.50 910,734.80 10,445.00 353,226.97 40,156.00 2,322.03 4,075,907.02

Prepared by: PAMELA B. HERMOSO Bookkeeper/ Finance Officer

Certified by: JUANCHO R. MANINGAT Manager

Noted by: ROLANDO V. CRUZADA Chairman

KAMAHARI AGRI-BASED MULTI-PURPOSE COOPERATIVE STATEMENT OF FINANCIAL CONDITION DECEMBER,2011

ASSETS

Current Assets Cash on Hand and in Banks (Note 3) Loans Receivable (Note 4) Other Receivable (Note 5) Other Current Assets (Note 6) Total Current Assets 1,612,602.17 13,243,733.04 539,823.69 4,644,093.33 20,040,252.23

Investments (Note 7)

654,702.20

Property and Equipmwnts - Net (Note 8) TOTAL ASSETS

2,191,790.27 20,694,954.43

LIABILITIES , RESERVES AND MEMBERS' EQUITY

Current Liabilities Savings Deposits (Note 9) Other Payable Loans Payable (Note 10) Other Liabilities (Note 11) Total Current Liabilities 867,943.38 974,722.02 7,272,064.50 346,817.03 10,047,155.98

CMGF Payable Total Liabilities Members' Equity Paid-up Share Capital Donated Capital Grants Reserves Income (loss ) Total Members' Equity Total Liabitlites and Members' Equity

1,157,806.91 11,204,962.89

4,555,087.09 435,570.00 5,165,559.04 -38,184.70 529,767.02 10,647,798.45

20,694,954.43