6. Inventories
This account is composed of the following:
Inventory Held for Distribution 2024 2023
Food Supplies for Distribution ₱ 1,045,315.00 ₱ 425,215.00
Welfare Goods for Distribution 3,805,500.00 3,805,500.00
Drugs and Medicines for Distribution 245,963.00 245,963.00
Agricultural and Marine Supplies for
Distribution 706,985.00 632,000.00
Agricultural Produce for Distribution 1,506,675.00 264,994.00
Inventory Held for Consumption
Office Supplies Inventory 479,980.70 479,980.70
Accountable Forms, Plates, and
144,864.50 144,864.50
Stickers
Medical, Dental, and Laboratory
173,105.00 173,105.00
Supplies Inventory
Inventory Held for Consumption 2024 2023
Textbooks and Instructional Materials
₱ 588,261.75 ₱ 588,261.75
Inventory
Other Supplies and Materials
920,975.00 851,613.00
Inventory
Total Inventories ₱ 9,617,624.95 ₱ 7,611,496.95
a. One-Time Cleansing of account balances
Several inventory items are non-moving for more than 5 years. There are ongoing
efforts to reconcile the physical count vis-à-vis the accounting records. For the
ensuing year, the Accounting Unit will take up the necessary accounting entries to
write-off/drop from the books of accounts the unreconciled inventory items pursuant
to COA Circular No. 2020-006.
There were no Summaries of Supplies and Materials Issued (SSMI) prepared to serve
as bases in reducing these accounts by the amounts utilized or consumed.
No inventory items were pledged as security during the current or prior financial year.
7. Property, Plant and Equipment, Net
Property, plant, and equipment amounted to ₱449,640,288.56 and ₱395,682,466.67 for
CY 2024 and CY 2023, respectively. See pages 48 to 49 for details.
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