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                                                                                                                         Annex A


                                                                                                     Status of Implementation/
Ref.                  Observation                                 Recommendation
                                                                                                       Results of Validation
       violation of Section 72 of the New                 Appraisal Committee to immediately act Management had not submitted
       Government Accounting System (NGAS)                in the determination of the value of the proof of compliance with this
       Manual for LGUs, Volume II, thus,                  unrecorded lots. Also direct them to recommendation.
       understating the assets of the Municipality.       process the titling of the lots owned by
       Moreover, there were lots owned by the             the Municipality and for the Municipal
       local government unit with no certificates of      Budget Officer to allocate funds for the
       title which contravenes Section 148 of COA         titling thereof.
       Circular No. 92-386.                            103. Likewise, instruct the Municipal              Unimplemented
                                                          Accountant to review the land account
                                                          and record only in the books of accounts
                                                          those lots that are owned by the
                                                          municipality. Moreover, the value of the
                                                          lots which will be determined by the
                                                          Provincial Appraisal Committee shall
                                                          also be recorded in the books of
                                                          accounts to avoid understatement of
                                                          assets.