REPORT OF INDEPENDENT AUDITOR ‘THE BOARD OF TRUSTEES Village East Executive Homes ‘VILLAGE EAST HOMEOWNERS ASSOCIATION, INC. F. P Folix Avenue A Nor-stock, Non-profit, Cainta, Rizal Membership Association | have audited the accompanying financial stalecnents of Village East Homeormers Association, Inc ‘which comprise the Statements of Financial Postion as of dune 90, 2010 and 2009 and the related Statements of Activites, Statements of Changes in Net Assets and Statements of Gash Flows for the fiscal years then ended, and a summary of significant accounting polices and ather explanatory information. Management's Responsibility for the Financial Statements ‘The Menagement 's responsible forthe: preparation and fair presentation of these financial statements in ‘scoordance with applicable Philippine financial reporting Iramework a set forth in the Phifppine Financial Reporting Standards for Small Medium-Sized Eniibes (PFRS for SMEs} and for such inlemal control as the Management determines as necessery to enable the preperation of financial statements tha are free from mmalerial misstatement, whather due to fraud or ertor Auditor's Responsibility My responsibilty isto express an opinion on these financial statements based on my aur. | conducted my audit in accordance with Philippine Standards on Auditing. Those standards require that | comply with ethical requirements and plan and perform the aud to obtain reasonable assurance whether the financial statements ae free from material misstatement. ‘An audi involves performing procedures to citain audit evidence about the amounts and disclosures inthe financial statements. The procedures selecled depend on the auditors judgment, including the assessment ‘of the risks of materia misstatement of the fiancial etstoments, whether due to fraud or emor. In making thosa risk assessments, the auditor considers intemal control relevant to the enfty's preparation and far presentation of the financial statements in order to design audit procaduras that ate apprograte in the ‘srcumstances, but not forthe purpose of expressing an opinion on the effectiveness ofthe entity's intemal control. An audit also inckides eveliling the apprapdateness of accountng palicies used and the reagonablenees of accounting estimates made by menagement, as wel as evaluating the averall prasantaton ofthe fancial stalements, | beliave thet the eudit evidence | have obtained is sufficient and appropriate to provide a basis for my ‘susit opinion,Report of Indapendent Auditor Page? ‘Opinion In my opinion, the financial statements present fairly, in all material respects, the financial position of Village East Homeowners Association, inc. as of June 90, 2010 and 2009 and of its financial performance and its cash flows for the fiscal years then ended in accantance with applicable Philippine financial reporting framework as set forth in the Philippine Financial Repovting Standards for Small ‘Medium-Sized Entlies (PFRS for SMEs} /\ Aue ERNESTO V. GORDOVEZ CPA Wo. 37120, TIN 1; PTR No. 4808377, January 6, 2011, Quezon City BOA Accreditation No. 3246 unti December 31, 2012 ‘Actuation No, 07-000102--2010 unt September, 2013 ‘Quezon Cily MM Philippines October 15, 2011 Member: Pilippiice Institute of Certified Pubic Accowmtants Audet: 28 Metapa Stet, gy. Pimpin, Quezon City Metres Telephone No 6324365041 Email haneualye yahoo.comVILLAGE EAST HOMEOWNERS ASSOCIATION, INC. Association) {A Private, Domestic, Non-stock and Non-profit, ‘STATEMENTS OF ACTIVITIES FOR THE FISCAL YEAR ENDED JUNE 30, 2010 AND 2009 [in Philippine Pesos) ‘ates YEAR 2010 YEAR 2008 Revenues 46 Revenues from operations: 16 6822040 13,380,180 Other revenues 15 S43.317 223,238 Total revenues 17,405,966 13,612,385) 4.5.15 Tight and water 3466083 5,357,159 Repairs and maintenance 3,250,427 1,646,583 Salaries, wages and benefits 5.16 zesom = -2592,687 Secunily and cleanliness 2463500 2,354,225 Depreciation and smartization 5.8 2,050,532 1,502,658 ‘Ouiside services 1,181,916 396,862 Supplies and materiats 459,701 SAT Ba ‘Gasoline and ail 222638 196,42 Representation 4 entertainment 215,874 43,038 Taxes and licenses 1314 AT ‘Telecommunications 80,009 74500 Advertisements and promations 4arTT 60,057 ‘Transportation and travel 18496 19,858 Insurance Bas 6.236 Githers 10 804,878 224,945 Total operating expenses 17,076,837 13,570,431 ‘Not profit for the year 399,829 241,954 See Notes fo financial statements ft