Negative Balance in Due to GSIS Payable
Department of Public Works and Highways · 2023
Severity: ModerateRecommendation: Unknown
This summary was generated automatically from the source document and may contain errors. It is not an official interpretation and should not be relied upon as legal guidance. Review the original excerpt and source document to verify before citing or acting on it.
What Happened?
Category: Financial ManagementIssue: Accounting ErrorThe amount the agency owes to the GSIS shows a negative number for old balances, which is odd and likely means the agency overpaid or did not record it correctly.
Why It Matters
Recommended Actions
No recommendations are available for this finding yet.
Original Audit Finding Excerpt
"Due to GSIS 36,188,676.98 0.00 29,422,499.61 1,632,249.15 6,296,236.61 1,032,672.36 (2,194,980.75)"