Table  1.1.c
NATIONAL ELECTRIFICATION ADMINISTRATION
COMPARATIVE PROFIT AND LOSS STATEMENT, FY 2001-2003
(In Thousand Pesos)
					2001		2002		2003
			PARTICULARS		CERTIFIED/
					UNAUDITED		ESTIMATE		PROPOSED
I.	REVENUES
		Operating Revenue			650,030		881,508		959,949
		Other Revenues			50,384		18,000		56,555
			TOTAL REVENUES		700,414		899,508		1,016,504
II.	OPERATING EXPENSES
		Personal Services			245,512		221,914		468,745
		Maintenance and Other Operating Expenses			101,480		115,940		924,090
		Interest Expense			407,799		319,068		229,654
		Non-Cash Expenses
			Depreciation/Amortization		14,051		12,716		19,897
			TOTAL OPERATING EXPENSES		768,842		669,638		1,642,386
III.	NET PROFIT (LOSS) BEFORE FOREX DIFFERENTIAL				(68,428)		229,870		(625,882)
IV.	FOREX DIFFERENTIAL ON NEW LOANS				(673,935)		(1,054,010)		-
V.	NET PROFIT (LOSS) BEFORE INCOME TAX				(742,363)		(824,140)		(625,882)
VI.	PROVISION FOR INCOME TAX				-		-		-
VII.	NET PROFIT (LOSS) AFTER INCOME TAX				(742,363)		(824,140)		(625,882)
VIII.	OTHER INCOME
		Subsidies from NG
			Regular		284,585		880,220	a/	500,000
		Rest of Subsidies
			Conversion of interest on NG advances		-				500,000
	TOTAL OTHER INCOME				284,585		880,220		1,000,000
IX.	OTHER EXPENSES
		Subsidies from NG
			Regular		279,002		891,740		400,000
		Rest of Subsidies
			Proceeds of Grants/Loans for
			Institutional Strengthening		16,091
			Conversion of Interest on NG Advances		-				500,000
			TOTAL OTHER EXPENSES		295,093		891,740		900,000
X.	NET PROFIT (LOSS) FOR THE PERIOD				(752,871)		(835,660)		(525,882)
a/  Includes prior years subsidy of P260.220
Table 1.1.i
NATIONAL ELECTRIFICATION ADMINISTRATION
SOURCES AND USES OF FUNDS  By Expense Class, FY 2001
(In Thousand Pesos)
					NATIONAL GOVT.
					SUPPORT	CORPORATE BORROWINGS			CORPORATE FUNDS				GRAND TOTAL
PROGRAM/ACTIVITY/PROJECT					MOOE	MOOE	CO	TOTAL	PS	MOOE	CO	TOTAL	PS	MOOE		CO	TOTAL
1.	General Administration and Support								36,827	19,437		56,264	36,827	19,437			56,264
2.	Support to Operations								73,654	38,871		112,525	73,654	38,871			112,525
3.	Operations								135,031	71,273	11,932	218,236	135,031	71,273		11,932	218,236
4.	Locally Funded Projects				696,445		1,050,970	1,050,970					-	696,445		1,050,970	1,747,415
	4.1	Rural Electrification	Rural Electrification		327,925		1,050,970	1,050,970						327,925		1,050,970	1,378,895
	4.2		NPC-DOE Projects		368,520									368,520			368,520
5.	Debt Servicing				470,000					962,581		962,581		1,432,581			1,432,581
	6.1	4.1	Loan Repayment		470,000					962,581		962,581		1,432,581			1,432,581
6.	Others									93,791		93,791		93,791			93,791
				TOTAL	1,166,445	-	1,050,970	1,050,970	245,512	1,185,953	11,932	1,443,397	245,512	2,352,398	a/	1,062,902	3,660,812
a/	MOOE, net of allowance for depreciation of P14.051 million
Table 1.1.j
NATIONAL ELECTRIFICATION ADMINISTRATION
SOURCES AND USES OF FUNDS  By Expense Class, FY 2002
(In Thousand Pesos)
					NATIONAL GOVERNMENT SUPPORT			CORPORATE FUNDS				GRAND TOTAL
PROGRAM/ACTIVITY/PROJECT
					MOOE	CO	TOTAL	PS	MOOE	CO	TOTAL	PS	MOOE		CO	TOTAL
1.	General Administration and Support							33,287	17,391		50,678	33,287	17,391			50,678
2.	Support to Operations							66,574	34,782		101,356	66,574	34,782			101,356
3.	Operations							122,053	63,767		185,820	122,053	63,767			185,820
4.	Locally Funded Projects				596,480	125,000	721,480		516,740		516,740	-	1,113,220		125,000	1,238,220
	4.1	Rural Electrification	Rural Electrification		495,000	125,000	620,000		516,740		516,740		1,011,740		125,000	1,136,740
	4.2		NPC-DOE Projects		101,480		101,480						101,480			101,480
5.	Debt Servicing				1,752,897	-	1,752,897		40,442		40,442		1,793,339			1,793,339
	6.1	4.1	Loan Repayment		1,752,897		1,752,897		40,442		40,442		1,793,339			1,793,339
6.	Others								12,000		12,000		12,000			12,000
				TOTAL	2,349,377	125,000	2,474,377	221,914	685,122	-	907,036	221,914	3,034,499	a/	125,000	3,381,413
a/	MOOE, net of allowance for depreciation of P12.716 million
Table 1.1.k
NATIONAL ELECTRIFICATION ADMINISTRATION
SOURCES AND USES OF FUNDS  By Expense Class, FY 2003
(In Thousand Pesos)
					NATIONAL GOVERNMENT SUPPORT			CORPORATE BORROWINGS			CORPORATE FUNDS				GRAND TOTAL
PROGRAM/ACTIVITY/PROJECT
					MOOE	CO	TOTAL	MOOE	CO	TOTAL	PS	MOOE	CO	TOTAL	PS	MOOE		CO	TOTAL
1.	General Administration and Support										112,621	24,238	2,797	139,656	112,621	24,238		2,797	139,656
2.	Support to Operations										167,710	36,356	4,196	208,262	167,710	36,356		4,196	208,262
3.	Operations										188,414	40,396	4,662	233,472	188,414	40,396		4,662	233,472
4.	Locally Funded Projects				400,000	100,000	500,000									400,000		100,000	500,000
	4.1	Rural Electrification	Rural Electrification		400,000	100,000	500,000									400,000		100,000	500,000
5.	Debt Servicing							229,654	-	229,654		526,373		526,373		756,027			756,027
	6.1	4.1	Loan Repayment					229,654		229,654		526,373		526,373		756,027			756,027
6.	Conversion of Interest on NG Advances				500,000		500,000									500,000			500,000
7.	Social Security Benefits											823,100		823,100		823,100			823,100
8.	Others												9,225	9,225				9,225	9,225
				TOTAL	900,000	100,000	1,000,000	229,654	-	229,654	468,745	1,450,463	20,880	1,940,088	468,745	2,580,117	a/	120,880	3,169,742
a/	MOOE, net of allowance for depreciation of P19.897 million
Table  1.1.b
NATIONAL ELECTRIFICATION ADMINISTRATION
COMPARATIVE BALANCE SHEET,  FY 2001-2003
( In Thousand Pesos)
				2001		2002		2003
		PARTICULARS		CERTIFIED/
				UNAUDITED		ESTIMATE		PROPOSED
			ASSETS
Current Assets:
	Cash			525,943		657,647		372,934
	Cash-Trust Funds			10,586		10,586		10,586
	Interest Receivables			116,267		545,155		436,124
	Inventories			1,910,302		1,710,302		1,510,302
	Other Receivables			497,834		496,834		471,944
		Total Current Assets		3,060,932		3,420,524		2,801,890
Long-term Loans Receivables from ECs				16,012,732		16,048,352		15,738,172
Fixed Assets				578,770		566,054		563,722
Other Assets				1,546,867		1,341,496		1,135,586
	TOTAL ASSETS			21,199,301		21,376,426		20,239,370
			LIABILITIES
Current Liabilities:
	Due to National Government
		Bureau of the Treasury		8,018,679		9,771,576		9,541,922
	Due to Government-Owned and/or
		Controlled  Corporations		7,000		7,000		7,000
	Domestic Creditors			720,132		715,740		712,140
	Other Current Liabilities			4,127		3,567		2,742
		Total Current Liabilities		8,749,938		10,497,883		10,263,804
Trust Liabilities				293,948	209,418	185,420		180,620
Domestic Borrowings
Long-term Liabilities
	To Domestic Creditors			5,098,965		4,926,342		4,630,159
	To Foreign Creditors			2,392,656		2,145,018		1,914,828
	TOTAL LIABILITIES			16,535,507		17,754,663		16,989,411
Table  I.1.b      (Continuation)
NATIONAL ELECTRIFICATION ADMINISTRATION
COMPARATIVE BALANCE SHEET,  FY 2001-2003
( In Thousand Pesos)
				2001		2002		2003
			PARTICULARS	CERTIFIED/
				UNAUDITED		ESTIMATE		PROPOSED
			STOCKHOLDERS'  EQUITY
Capital Stock				4,970,461		4,970,461		4,970,461
Donated Capital				176,792		176,792		176,792
Retained Earnings				(517,939)		(1,559,970)		(1,931,774)
Contingent Surplus				34,480		34,480		34,480
	TOTAL STOCKHOLDERS' EQUITY			4,663,794		3,621,763		3,249,959
	TOTAL LIABILITIES AND STOCKHOLDERS'
	EQUITY			21,199,301		21,376,426		20,239,370
Table  1.1.d
NATIONAL ELECTRIFICATION ADMINISTRATION
STAFFING SUMMARY OF PERMANENT POSITIONS, FY 2001-2003
(In Thousand Pesos, Except No. of Positions)
		2001				2002				2003 **
		CERTIFIED/				ESTIMATE				PROPOSED
	POSITION	UNAUDITED
		Number		Amount		Number		Amount		Number		Amount
Top Two Corporate Positions
	Administrator	1		330		1		330		1		355
	Deputy Administrator	4		1,292		4		1,292		4		1,292
Management/Executive Group		27		7,720		27		7,720		27		7,918
Supervisory Group		143		33,100		143		33,100		145		37,741
Professional /Technical Group
(High Level)		70		15,540		70		15,540		85		19,912
Professional/Technical
(Entry Level)		113		22,855		113		22,855		125		26,639
Technical Support		86		14,448		86		14,448		133		25,374
Administrative/Others		424		38,160		424		48,497		210		30,419
	TOTAL	868	*	133,445		868		143,782		730		149,650
*    includes unfilled positions
**  positions subject to NEA restructuring
Table  1.1.f
NATIONAL ELECTRIFICATION ADMINISTRATION
DETAILS OF MAINTENANCE AND OTHER OPERATING EXPENSES, FY 2001-2003
(In Thousand Pesos)
			2001		2002		2003
			CERTIFIED/		ESTIMATE		PROPOSED
	PARTICULARS		UNAUDITED
02	Travelling Expenses		14,968		16,158		18,180
03	Communication Expenses		5,080		4,800		5,910
05	Repair and Maintenance of Government Vehicles		1,219		1,006		1,110
06	Transportation Services		20
07	Supplies and Materials		6,030		6,910		7,500
08	Rents		3,508		3,000		3,000
09	Interests		407,799		319,068		229,654
10	Grants, Subsidies and Contributions		696,445		1,113,220		900,000
11	Awards and Indemnities
12	Loan Repayments and Sinking
	Fund Contribution	a/	1,024,782		1,474,271		526,373
13	Losses/Depreciation/Depletion	b/	14,051		12,716		19,897
14	Water, Illumination and Power Service		10,192		10,310		11,150
15	Social Security Benefits		2,278		15,548		823,100
16	Auditing Services		5,595		7,390		6,290
17	Training and Seminar Expenses		1,370		2,013		7,770
18	Extraordinary & Miscellaneous Expenses		2,421		1,863		2,638
21	Taxes, Duties and Fees		2,098		1,684		1,000
23	Gasoline, Oil and Lubricants		1,688		1,773		2,210
24	Fidelity Bonds and Insurance Premium		522		3,000		3,000
25	Loss on Foreign Exchange
26	Commitment Fees and Other Charges		14,814		10,000		-
29	Other Services		151,569		42,485		31,232
	Total   M O O E		2,366,449		3,047,215		2,600,014
a/	These accounts are not considered as expense items in the Profit and Loss Statement
b/	These are non-cash expense accounts, therefore not included in the Statement of Sources
	and Uses of Funds, By Expense Class
	Table  1.1.h
	NATIONAL ELECTRIFICATION ADMINISTRATION
	COMPARATIVE CASH FLOW STATEMENT, FY 2001-2003
	(In Thousand Pesos)
							2001		2002		2003
				PARTICULARS			CERTIFIED/
							UNAUDITED		ESTIMATE		PROPOSED
		CASH BALANCE BEGINNING					395,307		525,943		657,647
		CASH INFLOWS					3,791,448		3,393,117		2,885,029
		1.	Operating Receipts
			a.	Collection on loan amortization-ECs/PSALM
				Principal			400,964		289,380		610,180
				Interest			588,345		452,620		959,949
		2.	Rest of Receipts
			a.	National Government Subsidy
					Prior Year				260,220
					Current		284,585		620,000		500,000
				Conversion of Interest on NG Advances							500,000
			b.	NPC-DOE Projects			470,000
			c.	Advances from the Bu. of the Treasury			869,000		1,752,897
			d.	Domestic Borrowings BTr							229,654
			e.  Guarantee fee	Foreign Loan Availments/Other Sources			1,096,956	1,096,956
			f.	Sale of NEA's Non-Performing Assets							28,691
			g.	Other Receipts			81,598		18,000		56,555
		TOTAL CASH AVAILABLE					4,186,755		3,919,060		3,542,676
		CASH OUTFLOWS					3,660,812		3,261,413		3,169,742
		1.	Operating Expenditures				346,992		337,854		569,735
			a.	Salaries and Wages			245,512		221,914		468,745
			b.	Other Operating Expenditures			101,480		115,940		100,990
		2.	Other Current Expenditures				2,250,918		2,798,559		2,479,127
			a.	Interest Payments
				a.1.  Interest payments of nat'l gov't			399,000		636,145		229,654
			b.	Subsidy - Rural Electrification			327,925		891,740		400,000
			c.	Conversion of Interest on NG Advances							500,000
			d.	NPC-DOE Projects			368,520		101,480
			e.	Loan Repayments			959,000		1,157,194		526,373
			f.	Payment of  BTr  Advances			40,581
			g.	Payment of CMEC Loan			34,000
			h.	Separation Pay							823,100
			I.	Other Expenditures			121,892		12,000
		3.	Capital Outlays				1,062,902		125,000		120,880
			a.	Capital Investment			1,050,970		125,000		109,225
			b.	Lot and Building			1,668
			c.	Office Furnitures & Equipment			10,264				11,655
		CASH BALANCE, END					525,943		657,647		372,934
Table  1.1.e
NATIONAL ELECTRIFICATION ADMINISTRATION
OTHER COMPENSATION, FY 2001-2003
(In Thousand Pesos)
			2001		2002		2003
	PARTICULARS		CERTIFIED/
			AUDITED		ESTIMATE		PROPOSED
Mandatories			33,972		45,425		287,749
	Personnel Economic Relief Allowance		4,311		5,208		4,380
	Additional Compensation Allowance		4,311		5,208		4,380
	Representation and Transportation Allowance		9,422		10,982		16,346
	Year-end Bonus and Cash Gift		14,947		16,321		16,121
	Subsistence  Allowance				25		25
	Merit and Longevity Pay				1,438		1,497
	Loyalty Incentive		177
	Terminal Leave		804		6,243		245,000
Fixed Expenditures			17,834		19,259		19,645
	Employees Compensation
	Insurance Premium		236		312		263
	PAG-I.B.I.G. Contributions		787		1,042		876
	Medicare Contributions		803		651		548
	GSIS Life & Retirement Insurance Premium		16,008		17,254		17,958
Other Authorized Allowances			60,261		13,448		11,701
	Rice Allowance		10,315		6,201		5,301
	Children's Allowance		251		258		251
	Meal Subsidy		403		415		403
	Productivity Incentive Bonus				1,736		1,460
	Medical/Dental/Optical Allowance		1,803		1,330		1,330
	Per Diems of Members of
	Governing Boards		16		36		36
	Anniversary Bonus		2,514
	Clothing/Uniform Allowance		2,930		3,472		2,920
	Overtime Pay		1,316
	Other Benefits		40,713
	Grand Total		112,067		78,132		319,095
Table  1.1.g
NATIONAL ELECTRIFICATION ADMINISTRATION
DETAILS OF CAPITAL OUTLAYS, FY 2001-2003
(In Thousand Pesos)
		2001		2002		2003
	PARTICULARS	CERTIFIED/
		UNAUDITED		ESTIMATE		PROPOSED
31	Investments Outlay	1,050,970		125,000		109,225
32	Loans Outlay
34	Land and Land Improvements Outlay
35	Building and Structures Outlay	1,668
36	Furniture, Fixtures, Equipment and
	Books Outlay	10,264				11,655
	Grand Total	1,062,902		125,000		120,880