Scope of Audit
An audit was conducted on the accounts and operations of the City Government of
Bayawan for 2024. The audit consisted of verification, reconciliation, confirmation,
inspection, and analysis of accounts reported in the financial statements, review of
operating procedures, evaluation of the LGU’s programs and projects, interviews with
concerned government officials and employees, and other procedures deemed necessary.
Financial Highlights
The financial condition and results of operation of the City Government of Bayawan as of
December 31, 2024, with comparative figures for 2023, are summarized as follows:
Statement of Financial Position
2024 2023 Increase/(Decrease)
Assets ₱6,579,887,715.12 ₱6,204,937,817.09 ₱374,949,898.03
Liabilities 1,888,445,447.76 1,849,258,849.48 39,186,598.28
Equity 4,691,442,267.36 4,355,678,967.61 335,763,299.75
Results of Operations
2024 2023 Increase/(Decrease)
Revenues ₱1,624,961,897.10 ₱1,530,588,446.97 ₱94,373,450.13
Personnel Services 490,486,255.67 469,896,918.91 20,589,336.76
MOOE 779,501,215.72 609,371,896.26 170,129,319.46
Non-cash Expenses 273,365,018.88 235,222,210.69 38,142,808.19
Financial Expenses 37,545,403.24 22,870,094.93 14,675,308.31
Transfers, Assistance and (63,356,443.98) (45,856,928.78) (17,499,515.20)
Subsidy from/(to)
Net Surplus/(Deficit) (19,292,440.39) 147,370,397.40 (166,662,837.79)
In 2023, Bayawan City had savings of ₱118,694,862.14, an excess of its actual income over
its actual expenditures. There were expenditures in the current year that were funded by
savings, thereby contributing to the deficit, in addition to the significant increase in
maintenance and other operating expenses.
Independent Auditor’s Report on the Financial Statements
We rendered a qualified opinion on the fairness of the presentation of the Financial
Statements for the year then ended, taking exception to the effects of the following:
The incorrect treatment in the reclassification of semi-expendable properties led to an
overstatement of the Other Supplies and Materials Inventory, Other Supplies Inventory, and
Other Property Equipment amounting to ₱25,654,129.33, ₱20,014,411.95, and
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