San Esteban, Ilocos Sur -- Newsbits

Province of Ilocos Sur MUNICIPALITY OF SAN ESTEBAN OFFICE OF THE MAYOR
MUNICIPAL SCHOLARS FINANCIAL STATEMENT
As of January 31, 2005

In the spirit of transparency we are pleased to present to you the attached photocopy of the financial statement of the Municipal Scholarship Fund Program as of January 31, 2005.

At present, we are proud to say that the original batch of scholars will graduate next year namely; Sheryll Elyado, (Ansad) BS Nursing, Michelle Mariano (Apatot), BS Elementary Education and Marvin Ebojo (Poblacion), BS Education. While the other two scholars namely; Rodel G. Elaydo (Cappa-cappa), a 2nd year Geodetic Engineering student and Resty G. Guzman (San Nicolas), a 3rd year Civil Engineering student.

In behalf of the Municipal Scholars, may I again take this opportunity to extend my deepest appreciation for maintaining your contributing to the continuing success on this noble undertaking.

Thank you and more blessings!

Very Truly Yours, Armando V. Abad Municipal Mayor

OFFICE OF THE TREASURER
FINANCIAL STATEMENT
SAN ESTEBAN MUNICIPAL SCHOLARS
As of January 31, 2005

Balance per last Report – July 5, 2004                                              P182,739.25
Plus:
1. Donation from the Family of the Late Tom Guinto,
     November 18, 2004= $100.00                                                  P5,590.00

2. Municipal Counterpart CY, December 2, 2004                                  P50.000.00

3. Interest Earned on Savings Deposit 2nd Quarter 2004                      P253.29

4. Interest Earned on Savings Deposit 3rd Quarter 2004                      P212.14

5. Interest Earned on Savings Deposit 4th Quarter 2004                      P166.10
_______________________________________________________________________

               TOTAL P238,960.78

LESS ESPENSES;
1. Withholding Tax (interest 2nd Quarter 2004)                             P50.65

2. Withholding Tax (interest 3rd Quarter 2004)                             P42.42

3. Withholding Tax (interest 4th Quarter 2004)                              P33.22

4. Withdrawal of monthly tripend for 5 scholars

     @ P11,250.00 (June 2004 to January 2005)                              P90,000.00
______________________________________________________________________

                TOTAL EXPENSES P90,126.29

                    CASH BALANCE P148,834.49

CERITFIED CORRECT: ANGELITA H. ARCE MUNICIPAL TREASURER

/:susan (S.A.E.)