The municipality cannot verify its reported property and equipment balance of about ₱419 million because it did not conduct timely physical counts, update property ledgers, or register vehicles, and it improperly capitalized some low-value items. Many required fixes have not been done.

Why It Matters

Recommended Actions

• Require the Inventory Committee to (i) conduct an annual physical inventory of PPE and submit the RPCPPE to the AT not later than January 31 of each year
• And

Original Audit Finding Excerpt

"91 PART III - STATUS OF IMPLEMENTATION OF PRIOR YEAR’S AUDIT RECOMMENDATIONS There were 13 observations contained in the CY 20 22 Annual Audit Report for which 43 recommendations were offered. As of report date, 31 recommendations were implemented and 12 were not implemented as detailed below: Audit Observation/ Recommendation Ref. Management Action/s Status of Implementation/ Reasons for Non- Implementation 1. The Cash in Local Treasury (CLT) account reported balance of ₱ 17,262,316.40 was understated by ₱24,627.98 compared to the validated balance per cashbook of the MT, owing to non -recording in the books of returned cash advance by an accountable officer (AO) as at year-end. We recommended and the Local Chief Executive (LCE) agreed to require the MT and MA to (a) regularly reconcile their respective records for the early detection and correction of errors; and (b) based on the verified OR reflecting the corre ct amount of the refund,"

Source Document