Dormant Inventory Balances Not Validated or Written Off
Department of Public Works and Highways · 2024
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What Happened?
Category: Financial ManagementIssue: Non-complianceAbout 29.3 million pesos of old inventory items have stayed on DPWH's books for roughly ten years without any movement. DPWH lacks some of the paperwork needed to prove whether these items still exist or were already used.
Why It Matters
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Original Audit Finding Excerpt
"It was noted that various supplies in CO totaling P439,399.98 and construction materials in Negros Oriental 1st DEO aggregating P28,829,917.45 remained dormant and recorded as part of the inventory accounts since CY 2015 as these are balances forwarded from CY 2013 during the implementation of the new e-NGAS."