The City has old assets that are fully written off, but it does not have the detailed records showing their original cost and when they were bought.

Why It Matters

Recommended Actions

No recommendations are available for this finding yet.

Original Audit Finding Excerpt

"16 PPE account Carrying Amount January 1, 2024 Additions Total Adjustments Acquisitions Machinery and Equipment 144,235,451.17 5,140,568.40 46,202,212.50 195,578,232.07 Transportation Equipment 82,667,916.20 3,298,000.00 9,961,464.12 95,927,380.32 Furniture and Fixtures 5,546,742.66 77,000.00 164,800.00 5,788,542.66 Construction-in-Progress 5,045,139.53 17,990,509.85 260,298,036.03 283,333,685.41 Other PPE 7,717.50 0.00 0.00 7,717.50 Total ₱678,506,402.64 ₱73,282,317.78 ₱414,685,658.94 ₱1,166,474,379.36 PPE account (cont.) Deductions Carrying Amount Dec. 31, 2024 Adjustments Depreciation Land ₱778,325.70 ₱0.00 ₱259,655,112.33 Land Improvements 0.00 379,392.00 3,127,835.80 Infrastructure Assets 0.00 18,163,607.09 135,187,560.26 Building and Other Structures 0.00 5,975,073.59 162,571,914.63 Machinery and Equipment 4,271,758.00 23,863,490.61 167,442,983.46 Transportation Equipment 0.00 15,222,60"

Source Document