was only ₱95,375,079.83. Hence, there is a substantial discrepancy of
₱149,539,738.49, computed as follows:
Cash in Bank - LCCA 20% DF (per FS), Dec. 31, 2024 ₱ 95,375,079.83
Reported in SAAOB, Dec. 31, 2024
20 per cent DF
Current 92,855,209.85
Continuing 152,059,608.47
Total balance of DF per SAAOB, Dec. 31, 2024 244,914,818.32
Discrepancy (149,539,738.49)
6.11 Because of the substantial discrepancy, the accuracy of the actual cash available
for the unimplemented developmental projects cannot be verified. Considering that
there is no separate bank account for the 20 percent DF, the cash requirements of
the aforementioned appropriated projects could not be completely ascertained,
knowing that the General Fund bank account also includes other funds with
chargeable claims.
6.12 In order to properly manage and monitor on a timely basis the status of utilization
of the 20 percent DF, and ensure actual cash backup of its current and continuing
projects, programs, and activities (PPAs), it is advantageous to maintain a separate
bank account. Thus, this can also ensure that none of the funds under the General
Fund Proper are used for PPAs under the 20 percent DF.
6.13 We recommended that the City Accountant and the City Budget Officer
reconcile their reports and determine the actual funds available for ongoing
and/or unimplemented projects under the 20 percent DF.
6.14 We further recommended that Management, upon the authorization of the
Sanggunian, open a separate bank account in the General Fund for the 20
percent DF, to which the City Accountant and City Treasurer transfer the
determined or reconciled balance of the said account.
6.15 The City Treasurer commented that once the final amount of actual funds available
for on-going and/or unimplemented projects is determined by the City Accountant
and City Budget Officer, based on their reconciliation, her office, through the City
Mayor, shall request authorization from the Sanggunian to open a separate bank
account in the General Fund for the 20 percent Development Fund.
Inadequate disclosure for Road Networks – ₱2,021,608,101.86
55
