The city's property records do not match what was physically counted, and some properties that should have been written off or located were still on the books, making the reported value of property, plant, and equipment unreliable.

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Original Audit Finding Excerpt

"i EXECUTIVE SUMMARY A. Introduction We conducted an audit on the City Government of Baliwag, a first -class component city located at the northern part of the province of Bulacan. Republic Act (R.A.) No. 11929 lapsed into law on July 22, 2022. Th is contained the conversion of the Municipality into a component city and standardized its name to the “City of Baliwag”. A plebiscite was held on December 17, 2022 in which 17,814 residents voted in favor of conversion to a component city, while only 5,702 dissented. Our audit was made in accordance with International Standards of Supreme Audit Institutions (ISSAIs) and we believe that they provided a reasonable basis for the audit results. The audit covered the financial transactions and operations of the City for the calendar year (CY) 2023. The objectives of the audit were: (a) to ascertain the level of assurance that may be placed on management’s assertions on the financial statements; (b) recommend agency"

Source Document