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SiPAT

Unrecorded Parcels of Land

Baliwag City · 2023

Severity: HighRecommendation: Unknown

What Happened?

Category: Financial ManagementIssue: Non-compliance

The city owns land that is not recorded in its financial statements, so the reported value of its property is understated.

Why It Matters

Recommended Actions

No recommendations are available for this finding yet.

Original Audit Finding Excerpt

"The City has 32 parcels of land which remained not recorded in the books as of December 31, 2023 with total market value of ₱142.7 million and total assessed value of ₱25.8 million owing to insufficient bases of recognition."

Source Document

09-Baliwag2023_Part1-Notes_to_FS.pdf

Baliwag City · 2023 AAR · 13 files