that “xxx The balance per stock card/property cards should always reconcile with
the ledger cards of the accounting unit. xxx” Under this Section, the Accountant is
mandated to maintain the ledger cards while the CGSO is to maintain the stock cards
for inventories.
3.3. We favorably noted that the CGSO submitted the RPCI as of December 31, 2024.
We compared the inventory balances therein against those recorded in the books and
noted that there was a material unreconciled balance in the inventory accounts
totaling ₱56,550,299.47. Presented below is the comparison of book balances with
the physical count of inventories by fund and in consolidation.
Books Physical Count
Account Title Variance
(Accounting) (GSO)
GF
Food Supplies for Distribution ₱1,730,593.00 ₱824,343.00 ₱906,250.00
Drugs and Medicines for Distribution 12,645,156.79 12,645,156.79 0.00
Agricultural and Marine Supplies for
1,094,650.00 1,094,650.00 0.00
Distribution
Other Supplies and Materials for Distribution 5,284,633.30 231,858.00 5,052,775.30
Office Supplies Inventory 52,088,868.90 51,579,571.73 509,297.17
Accountable Forms, Plates and Stickers 1,171,323.60 178,904.51 992,419.09
Animal/Zoological Supplies Inventory 1,982,723.10 1,787,739.60 194,983.50
Food Supplies Inventory 2,038,081.09 2,038,081.40 (0.31)
Drugs and Medicines Inventory 14,647,054.61 9,514,166.81 5,132,887.80
Medical, Dental and Laboratory Supplies
11,956,773.46 11,681,450.67 275,322.79
Inventory
Fuel, Oil and Lubricants Inventory 19,875,544.07 2,843,384.04 17,032,160.03
Agricultural and Marine Supplies Inventory 7,824,388.81 5,826,785.77 1,997,603.04
Military, Police and Traffic Supplies Inventory 658,114.00 658,114.00 0.00
Construction Materials Inventory 72,984,177.37 73,693,102.52 (708,925.15)
Other Supplies and Materials Inventory 65,748,535.87 55,281,161.87 10,467,374.00
Sub-total - GF 271,730,617.97 229,878,470.71 41,852,147.26
SEF
Food Supplies for Distribution 1,037,863.00 860,430.00 177,433.00
Other Supplies and Materials for Distribution 2,944,564.44 2,888,564.44 56,000.00
Office Supplies Inventory 4,754,295.30 3,880,304.30 873,991.00
Food Supplies Inventory 2,105,535.08 2,105,535.08 0.00
Drugs and Medicines Inventory 118,835.00 74,250.00 44,585.00
Medical, Dental and Laboratory Supplies
4,000.00 4,000.00 0.00
Inventory
Textbooks and Instructional Materials Inventory 5,545,166.21 1,035,166.21 4,510,000.00
Construction Materials Inventory 5,242,384.00 5,242,281.25 102.75
Other Supplies and Materials Inventory 10,239,334.50 6,374,592.50 3,864,742.00
Sub-total - SEF 31,991,977.53 22,465,123.78 9,526,853.75
TF
Welfare Good for Distribution 9,515,982.00 9,515,982.00 0.00
Agricultural Produce for Distribution 29,660.00 29,660.00 0.00
Office Supplies Inventory 1,659,564.88 1,529,606.88 129,958.00
Food Supplies Inventory 729,810.13 656,205.13 73,605.00
Drugs and Medicines Inventory 4,769,005.75 921,622.20 3,847,383.55
Medical, Dental and Laboratory Supplies
2,582,154.27 1,939,110.27 643,044.00
Inventory
Fuel, Oil and Lubricants Inventory 2,121,188.00 2,121,188.00 0.00
Agricultural and Marine Supplies Inventory 166,452.00 166,452.00 0.00
Construction Materials Inventory 9,664,112.55 9,761,564.68 (97,452.13)
Other Supplies and Materials Inventory 3,100,651.99 2,525,891.95 574,760.04
39
