Executive Summary
EXECUTIVE SUMMARY A. Introduction The Optical Media Board (OMB), under the direct supervision of the Office of the President, was created pursuant to Republic Act (R.A.) No. 9239, the Optical Media Act of 2003 which was approved on February 10, 2004. The Board is composed of five regular and four ex-officio members. The agency is mandated to regulate the mastering, manufacture, replication, importation and exportation of optical media in all forms. Coverage of authority is the entire territory of the Republic of the Philippines including the economic zones as defined both under R.A. Nos. 9239 and 7916. It is headed by a Chairperson who is also the Chief Executive Officer (CEO). It has a Secretariat headed by an Executive Director who assists the Chairperson/CEO in the day-to-day operations. OMB has complement of 60 plantilla personnel and four contractual. It operates under four divisions and two units namely: Administrative and Finance Division, Legal Division, Registration and Licensing Division, Enforcement and Investigation Division, Public Information and Communication Unit and the Planning Unit. B. Financial Highlights The comparative financial condition, results of operations and sources and utilization of funds of the OMB are as follows: Increase Particulars 2013 2012 (Decrease) Financial Conditions Assets 74,361,951.95 76,278,103.34 (1,916,15139) Liabilities 1,097,581.09 6,191,949.24 (5,094,368.15) Equity 73,264,370.86 70,086,154.10 3,178,216.76 Results of Operations Income 46,441,966.23 45,830,237.90 611,728.33 Expenses 41,428,424.87
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