Fuel Variance Between RPCI and Stock Cards
Department of Public Works and Highways · 2024
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What Happened?
Category: Inventory ManagementIssue: Inaccurate ReportingThe regional office's fuel records did not match the physical count by more than 227,000 liters, and the books showed about P41.7 million in fuel without reliable supporting documents, meaning the reported fuel inventory may be inaccurate.
Why It Matters
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Original Audit Finding Excerpt
"Variance of 227,790.61 liters of fuel between the RPCI and SC, and unreliable balance recorded in the books amounting P41,739,308.78 as at year-end due to: (i) delays in the submission of fuel liquidation reports and supporting documents; (ii) receipt/issuance documents destroyed by typhoon/flooding; (iii) improper monitoring of fuel purchases/issuances stored in the depot of the supplier; and (iv) lack of reconciliation process between the Accounting, Supply and Supplier."