Dormant Due from Central Office balance in Camiguin DEO
Department of Public Works and Highways · 2024
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: Dormant AccountAn account created in 2009 has been inactive for over ten years, the central office says it does not owe the amount, and the agency is asking permission to write it off.
Why It Matters
Recommended Actions
No recommendations are available for this finding yet.
Original Audit Finding Excerpt
"Balance under Fund Cluster 03 consists of balances from Region X account balance which is still subject to reconciliation and verification by the Central Office since it was established upon set-up of beginning balances in eNGAS 2009 which remained dormant as at date. This account has already been dormant for more than 10 years in the books of Camiguin DEO. But the Central Office has responded negatively in the confirmation of such account in their records. Thus, a request for write-off for such account has been forwarded to the COA, awaiting further instructions regarding the matter."