Management Status of
Ref. Observation Recommendations
Comments/Actions Implementation
returned to their respective can return the same to
source agencies, contrary to their respective source
COA Circular No. 94-013 agencies in accordance
dated December 13, 1994 and with COA Circular Nos.
COA Circular No. 2016-005 94-013 and COA Circular
dated December 19, 2016, No. 2016-005 so that
thereby preventing the source these funds can be used
agencies from utilizing the for other priority
funds for other priority programs/projects.
projects and from closing
their receivable accounts. 16. We further recommended Separate subsidiary records Unimplemented
that the Municipal still had not been maintained.
Accountant maintain
separate subsidiary
records for every fund
transferred to the
Municipality in
accordance with Section
6.3 of COA Circular No.
94-013.
2021 AAR, The accuracy and reliability 17. We recommended and the All PPE accounts under the Unimplemented
AO No. 1, of the reported depreciable Municipal Accountant Special Education Fund
page 28 Property, Plant and agreed to adjust the (SEF) had already been
Equipment (PPE) accounts balances related to the adjusted. However, the
with total carrying value of PPE account as a change Municipal Accountant still
₱268,402,327.30 could not be in accounting policy and, had not finished adjusting the
ascertained as depreciation subsequently, record depreciation of all accounts
charges were computed based depreciation based on a under the General Fund (GF)
on a 10% residual value 5% residual value in as required due to time
instead of 5% as required compliance with PAG 6
52
