The City kept old, unusable vehicles and equipment on its books instead of writing them off and selling or disposing of them. This made the City's reported assets look higher than they really were, and the financial statements did not tell readers that these items were no longer usable.

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Original Audit Finding Excerpt

"34 PART II – AUDIT OBSERV ATIONS AND RECOMMENDATIONS Favorable observation on exemplary performance in local governance The City Government of Baliwag received numerous awards and distinctions for its exemplary performance in improving local governance and service delivery with the end view of building and maintaining safe, resilient, and sustainable communities. Moreover, the City has made several partnerships and agreement s with different levels of government to implement various programs, projects, and ac tivities (PPAs), and deliver services to its constituents. Under the dynamic leadership of the City Mayor, the Local Chief Executive (LCE), the City successfully executed numerous programs and initiatives. These programs span from fostering economic growt h to promoting social cohesion, resulting in the successful provision of vital services to the community. This achievement was made possible through collaborative partnerships with different levels of govern"

Source Document