Annex A
Status of Implementation/
Ref. Observation Recommendation
Results of Validation
12. Submit an explanation of why the Unimplemented
observation has remained unacted for
the past five years.
The balance in the Loans Payable-Domestic The Municipal Accountant to:
2023 AAR
AO No. 6, account of ₱11,589,807.42 did not reconcile 13. Analyze the Loans Payable-Domestic Unimplemented
Page 39 with the loan balance per confirmation account and coordinate with DBP and
letters from the lending institutions, LBP to reconcile and update records
resulting in a discrepancy of ₱2,543,940.18, maintained by both parties.
making the year-end balance of the account Discrepancies noted should be
unreliable. Moreover, disclosure in the FS is reconciled, and the necessary
incomplete, a departure from the fair adjustments be effected to ensure a fair
presentation requirement under the IPSAS presentation of the account in the FS;
thus, affecting the usefulness of the financial and
information on loans to its users. 14. Revise the notes to FS to include the Unimplemented
principal amount, interest rate, maturity
date, purpose of the loan, and interest None submitted as of date.
expense for the LoansPayable -
Domestic account.
The Municipal Accountant was unable to 15. The Municipal Accountant to: Unimplemented
2023 AAR
AO No. 7, submit the year-end FS of the Municipality a) Reconcile the balance of the Cash
Page 41 for CY 2023 within the prescribed period and Cash Equivalents in the This is reiterated in paragraph
due to delayed submission of the Report of Statement of Financial Position and no. 7 of this report.
Disbursements from the Municipal Statement of Cash Flows and
Treasurer’s Office, contrary to Section conduct regular cross-checking and
41(2) of Presidential Decree (PD) No. 1445, reconciliation of these two
