The municipality withheld money from employee salaries for GSIS, but the amounts sent to GSIS sometimes did not match what was withheld. The final balance did not match the next month's remittance, and the accuracy of the account could not be confirmed.

Why It Matters

Recommended Actions

• Instruct the MA and the HRMO Officer (a) to put in extra effort to immediately trace the source of discrepancies in their records and reconcile them with the GSIS to effect necessary adjustments in the books, if any
• And (b) in coordination with the MT to strictly comply with the withholding and timely remittance of monthly contributions and loan payments to GSIS.

Original Audit Finding Excerpt

"over and under-remittances to GSIS of premiums and loan amortizations were still observed during the year contrary to the pertinent provisions of RA No. 8291. Furthermore, the balance of the Due to GSIS account as of December 31, 2023, amounting to ₱1,837.337.93 did not match the remittance in the following month of ₱1,802,644.01, thus, the accuracy of the year-end balance was not established."

Source Document