Petty Cash Fund and cash advance transactions lacked supporting documents
Department of Public Works and Highways · 2023
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What Happened?
Category: Financial ManagementIssue: Non-complianceSome petty cash and cash advance expenses didn't have the necessary receipts and reports to prove the money was spent correctly, and in one office those documents are now gone forever.
Why It Matters
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Original Audit Finding Excerpt
"Page 98 of 508 AGENCY ACTION PLAN AND STATUS OF IMPLEMENTATION Ref. Audit Observation Audit Recommendation Agency Action Plan Status of Implementation Reason for Partial/ Delayed/ Non- Implementation, if applicable Action Taken/ Action to be Taken Action Plan Person/Dept. Responsible Target Implementation Date From To Government Agencies and Department of Budget and Management Circular Letter No. 2018-14; b) direct the Accountable Officers of Albay 1st DEO and Albay 2nd DEO in Region V and Cagayan De Oro City 1st DEO in Region X to request for adjustments/reduction on the amount of fidelity bonds corresponding to his/her actual maximum cash accountability to prevent incurrence of payments of additional premiums; c) direct the Accountable Officers of RO No. IX to initiate the disposal or destruction of unused and obsolete accountable forms to preclude unnecessary and/or misuse of the same; d) direct the Accountable Officers of RO"