4.6 Thus, we requested the Certified List of Real Property Tax Delinquencies as of
December 31, 2024, from the Office of the Municipal Treasurer, and found that the
total RPT and SET receivables amounted to ₱54,931,515.89, as detailed on the
next page:
Name of Barangay RPT/SET Receivable
1 Actin ₱ 1,433,286.86
2 Bal-os 2,100,575.61
3 Bongalonan 9,421,595.26
4 Cabalayongan 4,706,472.24
5 Cabatuanan 4,439,415.20
6 Linantayan 6,412,643.11
7 Maglinao 17,479,016.06
8 Nagbo-alao 1,558,629.33
9 Olandao 3,652,503.31
10 Poblacion 3,727,378.91
Total ₱ 54,931,515.89
4.7 The Municipal Accountant, however, assured that collection related to the RPT and
SET were recorded directly as income for the calendar year. In fact, this was also
done the previous year. He also mentioned that his office is willing to make the
necessary adjustments to accurately reflect the receivables pertaining to RPT and
SET.
4.8 As a result of the foregoing, the RPT/SET Receivables are understated by
₱54,931,515.89 as of December 31, 2024.
4.9 We recommended and the Municipal Accountant agreed to make the
necessary adjusting entries to accurately reflect the correct amounts of RPT
and SET receivables.
4.10 We further recommended that, henceforth, at the beginning of the year, the
Municipal Treasurer agreed to ensure timely submission of the Certified List
of Taxpayers, with corresponding amounts due and collectible for the period,
so the Municipal Accountant can prepare the Journal Entry Voucher to
record the debit to RPT Receivable/SET Receivable and credit the
corresponding Deferred RPT Income/SET Income, which would be adjusted
during the year, upon collection from taxpayers.
30
